**CUMBRIAN RAILWAYS ASSOCIATION** **APPROVED FINANCIAL STATEMENTS 30 September 2022** **Charity Number 1025436** ## **CUMBRIAN RAILWAYS ASSOCIATION** ## **FINANCIAL STATEMENTS** ## **YEAR ENDED 30 SEPTEMBER 2022** |**CONTENTS**|**PAGES**| |---|---| |Members of the board and professional advisers|**1**| |Trustees annual report|**2 to 5**| |Independent Examiner’s report|**6**| |Statement of financial activities (including Income and|| |Expenditure account)|**7**| |Balance sheet|**8**| |Notes to the financial statements|**9 to 10**| ## **CUMBRIAN RAILWAYS ASSOCIATION** ## **MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS** ## **YEAR ENDED 30 SEPTEMBER 2022** **The board of trustees** Mr. P. Tuer (Chairman) Mr. M. Warhurst (Secretary) Mr. P. Waldron (Treasurer) Mr. A. Crawford Mr. K. Harper Mr. D. Hunter Mr. M. Peascod Mr B. Stephenson **Correspondence address** Mr. M. Warhurst 44 Moor Road Orrell Wigan WN5 8SA **Independent Examiner** Mr. C. Shambrook **Bankers** Barclays Bank plc Business Centre – Kendal PO Box 6539 Leicester LE87 2BB **- 1 -** ## **CUMBRIAN RAILWAYS ASSOCIATION** ## **TRUSTEES ANNUAL REPORT** ## **YEAR ENDED 30 SEPTEMBER 2022** The Trustees present their report and the financial statements of the charity for the year ended 30 September 2022. ## **CONSTITUTION** The Cumbrian Railways Association is an independent registered charity. The Association was formed in 1976 and achieved charitable status in 1993. It is now governed by its Constitution, the latest version of which was accepted by a majority vote of members at the AGM held on 13 November 2021. These financial statements are presented under the terms of the November 2021 Constitution. ## **OBJECTS OF THE CHARITY** The objects of the Charity are as follows:- - To encourage interest in and research into the railway history of Cumbria and adjacent areas; - To collect and preserve information and materials for the advancement of public education; - To provide facilities for the exchange of information about railways of the area, to arrange availability for reference of material by establishing a public archive, and to encourage publication for the education of members and the public; - To record the changing railway scene in the area with special attention to the relics remaining from the past; - To arrange meetings, visits, lectures, exhibitions, and similar activities for the furtherance of these aims; - To obtain, collect and receive money and funds by way of contributions, donations, subscriptions, legacies, grants, and any other lawful method and to accept and receive gifts of property of any descriptions, whether subject to any special trust or not, provided that the Association shall not undertake any permanent trading activities in raising funds for its charitable objects. ## **ORGANISATION, MANAGEMENT and GOVERNANCE** The Cumbrian Railways Association is managed by a Management Committee of Trustees, elected annually at the Annual General Meeting. Additional Officers are appointed and make up the full Management Team, although these Officers have no voting rights in Committee. New Trustees are appointed on the basis of having appropriate experience and skills and are formally advised by existing Trustees on their responsibilities. The Trustees assess the key risks to the Association, the main one of which is the practical issue of being able to preserve current collections and future ones it might acquire in the long term. Documents and other original material are largely stored at, and are accessible at, the Cumbria Archive in Kendal. Copies are made available for frequent use by (for example) researchers and model makers. **- 2 -** ## **CUMBRIAN RAILWAYS ASSOCIATION** ## **TRUSTEES ANNUAL REPORT** ## **YEAR ENDED 30 SEPTEMBER 2022** ## **CHAIRMAN’S REVIEW OF DEVELOPMENTS, ACTIVITIES AND ACHIEVEMENTS** ## _**Cumbrian Railways Association Committee Report 2022**_ The Cumbrian Railways Association continues to fulfil its charitable commitments and meet its main object to focus on the advancement of the education of the public concerning the railway history of Cumbria. In the past year this has continued to be achieved through various means: via its journal, online and face to face meetings, attendance at model railway exhibitions, the internet, and its Archive at the Cumbria County Record Office at Kendal. The last year has seen Covid 19 regulations eased fully, and some sort of normality return for events and meetings. We have started to hold ‘hybrid’ committee meetings, using a venue that has good internet access, as well as allowing those that want to travel to meet up in person. When they work, they are very good in allowing more members to attend, as they do not need to travel long distances to attend. There is also a saving to the Association with reduced travel expenses for attendees. The planned Special General Meeting was held in November 2021 and those attending approved the proposed changes to the Constitution. This puts us on a sound footing for holding meetings using electronic means if necessary. The AGM was face to face, the first for a couple of years, being held in March along with the Members’ Meeting. The Trustees up for re-election were duly returned in office for a further term. The current number of Trustees is felt to be satisfactory for the on-going management of the Association, but we do keep our eyes and ears open for new members to invite to join our team. Financially the Association can report another good year again, with a continued rise in membership. The website continues to be the major source of new members. We published yet another new book and it has already covered its initial printing costs with a further one at the print-ready stage at our year end. The website continues to expand with the online shop continuing to prove its worth in the time and effort put in by our webmaster. Other areas of the site have also been expanded and or refreshed. As a result, we have continued to see a marked increase in the number of visitors. The latest publication ‘Lancaster’s Line to the Sea – the LNWR’s Glasson Dock Branch’ by Dave Richardson is another one that he has authored for us. It has again covered an area in more depth than ever before, unearthing lots of new information about the line and the area through which it ran. He has already started research for his next book! Sales of other books and items have also been very strong, which has helped our finances. The quarterly Cumbrian Railways Journal continues to run with its extra pages, due to an influx of material and is expected to remain this size for the foreseeable future. A volunteer to work with the current editor is actively being sought as part of our succession planning. The postings on our Chat group, asking members to identify images, which had previously been reduced from daily to weekly, continue to provide lots of postings and information coming forwards from those who are members. One member has also volunteered to work on a specific collection, and he has used the site to ask for help in clarifying the description of images. Our records have been improved as a result. The planned Field Trip did not occur this year, but it is hoped to hold it in the next. **- 3 -** ## **CUMBRIAN RAILWAYS ASSOCIATION** ## **TRUSTEES ANNUAL REPORT** ## **YEAR ENDED 30 SEPTEMBER 2022** The Association continues its objectives of collecting and preserving information, materials, and photographs, for use by current and future historians and researchers. With the influx of donations, as a result of people having had time to sort things out during the various lockdowns, it means that we are snowed under, but our volunteers have stepped up to the mark and continue to make good progress is their chosen fields. Our Photo Archivist, having found his way around our collections, is starting to make his presence felt with meetings for members to attend and volunteers coming forward to help him. Filemaker, although a large financial investment for the association, continues to show its worth. The scanner, which was purchased some time ago, is doing sterling service in the capable hands of a dedicated volunteer. The Publicity sub-committee continues to beaver away making its presence felt. The complete sell out of the Kendal Tommy book has shown how effective the group has been in getting information out to others further afield and the wider world. Sales of our latest book are very strong as well. Preparations have been made ready for the next publication, which is imminent. A revised Membership application form has been prepared and printed ready for distribution in the New Year when our annual subscription rate increases for the first time in 12 years! New and improved methods of working, a change of printers for the Journal, making a big saving, ensuring we get the best price for publishing our books and other actions, have seen us exhaust all of the present avenues to make savings and hold the rate. Big increases in postage, printing and travel costs have however caught up with us. It is hoped the new rate can be held for several years. Zoom is still being used by the Publications sub-committee members to its benefit. The timetable, that they introduced, continues to guide their workload. With another book ready for printing the workload has not let up for our volunteers. More are in the pipeline so there will be no rest. Strict control of our print runs means that our storage requirement has not increased, helping us to save money. Overall, a very good year for the Association. Mr. P. T. Tuer. Chairman **- 4 -** ## **CUMBRIAN RAILWAYS ASSOCIATION** **TRUSTEES ANNUAL REPORT** ## **YEAR ENDED 30 SEPTEMBER 2022** ## **RESULTS FOR THE YEAR AND RESERVES** The Management Committee Trustees are satisfied with the overall financial position of the charity. They consider that sufficient reserves are held to meet the charity’s objects and aims at the present time. ## **THE TRUSTEES** The Trustees who served the charity during the period were as follows: Mr. P. Tuer (Chairman) Mr. M. Warhurst (Secretary) Mr. P. Waldron (Treasurer) Mr. A. Crawford Mr. D. Hunter Mr. K. Harper Mr. M. Peascod Mr. B. Stephenson ## **TRUSTEES' RESPONSIBILITIES** Charity law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity at the end of the year and of the incoming and outgoing resources for the year then ended. In preparing those financial statements, the Trustees are required to - select suitable accounting policies and then apply them consistently; - make judgements and estimates that are reasonable and prudent; - state whether the applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements; - prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operational existence. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Acts. The Trustees 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. Correspondence address: Signed by order of the Trustees: 44 Moor Road Orrell Wigan Mike Warhurst WN5 8SA Approved by the Trustees on: 13th March 2023 **- 5 -** ## **CUMBRIAN RAILWAYS ASSOCIATION** ## **INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS OF CUMBRIAN RAILWAYS ASSOCIATION** ## **YEAR ENDED 30 SEPTEMBER 2022** I report on the unaudited accounts of the organisation for the year ended 30 September 2022 set out on pages 7 to 10. ## **RESPECTIVE RESPONSIBILITIES OF THE MANAGEMENT COMMITTEE AND THE INDEPENDENT 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 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. 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 Commission (under section 145(5)(b) of the Charities Act, and - to state whether particular matters have come to my attention. ## **BASIS OF INDEPENDENT EXAMINER'S REPORT** My examination was conducted in accordance with general Directions given by the Charity Commission. 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 consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view, and the report is limited to those matters set out in the statement below. ## **INDEPENDENT EXAMINER'S STATEMENT** In connection with my examination, no matter has come to my attention 1. which gives me reasonable cause to believe that in, any material respect, the requirements: - to keep accounting records in accordance with section 130 of the Charities - Act; and - to prepare accounts which accord with the accounting records and comply - with the accounting requirements of the Charities Act have not been met; or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. > Signed: _C Shambrook_ Name of Examiner: Relevant Professional Qualification: > Date: 21/03/2023 Christopher Shambrook Bank Manager (Retired) **- 6 -** ## **CUMBRIAN RAILWAYS ASSOCIATION** ## **STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)** ## **YEAR ENDED 30 SEPTEMBER 2022** ||**Total Funds**||**Total Funds**| |---|---|---|---| ||**2021/2022**||**2020/2021**| ||**£**|**Notes**|**£**| |**INCOMING RESOURCES**|||| |Subscriptions|10776||10404| |Donations|620||656| |Gift Aid|1824||2083| |Interest|208||353| |Meeting Receipts|2304||0| |Publications & Map Sales|11785||10963| |Other Sales – Photos, Models, Surplus Archive|||| |Material|844||219| ||**28361**||**24678**| |**EXPENDITURE**|||| |Journal Printing, Packing & Post|11651||11732| |Trustees & Officers Expenses (including AGM|||| |costs etc)|872|**2**|928| |Insurance|459||450| |Website Costs|230||340| |Secure Storage Costs|1103||1103| |Membership Fees|75||75| |Bank Charges/PayPal/Card Reader Charges|127||143| |Collections, Archives & Photographic|||| |conservation costs|128||535| |Model Railway Exhibitions/Shows etc|1722||95| |Meeting Expenses (including Speakers'|||| |expenses)|2635||0| |Publications Production & Printing|5833||5896| |Decrease (increase) in Publication Stocks|-1168|**4**|315| |Publications Write-downs|0|**4**|| ||**23667**||**21612**| |**Surplus (Deficit) - Total**|**4694**||**3066**| |**Balances brought forward**|**44539**||**41473**| |**Balances carried forward**|**49233**||**44539**| **The notes on pages 9 to 10 form part of these financial statements.** **- 7 -** ## **CUMBRIAN RAILWAYS ASSOCIATION** ## **BALANCE SHEET** ## **30 SEPTEMBER 2022** ||**2022**||**2021**| |---|---|---|---| ||**£**|**Notes**|**£**| |FIXED ASSETS|0||0| |CURRENT ASSETS|||| |Cash at bank/PayPal|43637||39713| |Stock of publications/models|5379|**3**|4211| |Debtors & Prepayments|954|**5**|1027| ||49970||44951| ||**49970**||**44951**| |CURRENT LIABILITIES|||| |Sundry Creditors & Accruals|737|**6**|412| |NET CURRENT ASSETS|**49233**||**44539**| |TOTAL FUNDS|**49233**||**44539**| These financial statements were approved by the Trustees on the 13th March 2023 and are signed on their behalf by: Mike Warhurst **The notes on pages 9 to 10 form part of these financial statements.** **- 8 -** ## **CUMBRIAN RAILWAYS ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 30 SEPTEMBER 2022** ## **1. ACCOUNTING POLICIES** ## **Basis of accounting** The financial statements have been prepared in accordance with the guidance issued by the Charity Commission (CC) for Charities with charitable income of between £25000 and £250000 per annum. Therefore, whilst they follow as far as possible the Statement of Recommended Practice "Accounting and Reporting by Charities" (SORP 2005), the Trustees ensure that the accounts remain both clear and concise for members through the use of natural categories for income and expenditure. The Charity has no recognised gains or losses other than the results for the year as set out above. All activities of the Charity are classed as continuing. All funds held by the Charity are unrestricted as to their use. ## **Donations, legacies and similar income** These are included in the Statement of Financial Activities (SOFA) when - The charity becomes entitled to the donation, legacy or similar income and when any conditions for receipt are met; - The Trustees are reasonably certain that they will receive it - The Trustees are reasonably certain that the value can be reliably measured, ## **Investment income** Incoming resources from investments are included when receivable. ## **Depreciation/Fixed Assets** Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset (usually on a straight-line basis over four years, or sooner if write-off remaining is less than £200). Fixed assets are capitalised only at costs of over £1000. The charity currently has no assets which are deemed to be fixed. ## **Stocks** Current stocks of books, excluding those written-down, are valued at cost. ## **VAT** VAT payable is included as an expense only to the extent that it is not recoverable from HMRC. VAT receivable is excluded from income. **- 9 -** ## **CUMBRIAN RAILWAYS ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 30 SEPTEMBER 2022** ## **2. TRUSTEES,OFFICERS & SPEAKERS EXPENSES** Trustees & Officers are not remunerated. Their expenses cover the basic costs of three full Committee meetings (travel and room costs), plus sub-committee meetings covering Publications, Collections and Publicity, and any other expenses associated with the running of the Charity (AGM etc). ## **3. STOCK OF PUBLICATIONS** ||**Balance**|**Balance**| |---|---|---| ||**Sheet Value**|**Sheet Value**| ||**30/09/2022**|**30/09/2021**| ||**£**|**£**| |Intro. to Cumbrian Railways (2017)|1670|1921| |The Pilling Pig (2019)|1013|1204| |Maps (2019/2022)|203|161| |Bigrigg (2020)|343|407| |Kendal Tommy (2021)|0|518| |Glasson (2022)|2150|0| |**Total Publication Stocks**|**5379**|**4211**| ## **4. PUBLICATIONS** The stock of publications has been valued at year end on the basis of the lower of cost and realisable value. Provisions are made for publications where further value may be difficult to realise. This is done on the basis of publication date - over 6 years for general books (category 1), or over 12 months for event-specific publications (category 2). There were no items that qualified for any provision to be made in 2021-22. ## **5. DEBTORS & PREPAYMENTS** **30/09/2022 30/09/2021 £ £** Trade Debtors 273 664 HMRC VAT 281 213 Carus Green & Shap Wells 400 150 **Totals 954 1027** ## **6. SUNDRY CREDITORS & ACCRUALS** **30/09/2022 30/09/2021 £ £** 2023 Subscriptions paid prior to year-end 325 300 Nov. 2022 Meeting Fees paid in advance 110 104 VAT owed to HMRC 7 8 Provision for new Display Boards 295 0 **Totals 737 412** **- 10 -**