WORTH VALLEY rmt WOAntYALWWWAY THE FRIENDS OF KEIGHLEY AND WORTH VALLEY RAILWAY UNAUDITED FINANCIAL STATEMENTS 5 APRIL 2024 Charity Reglstration Number: 1032933 STREETS SPENSER WILSON CHAKTERED ACCOUNTANTS
THE FRIENDS of4 THE KEIGHLEY AND WORTH VALLEY RAtLWAY FINANCIAL STATEMENTS YEI AR Kf4DED S APRIL 2024 PAGE TTUStees' 2nJJual report Indcpendent examinees port to the trustees Stateinent of financial activities Statement of fin8ncAal position Notes to the filncEal statements
THE FRIENDS OF THE KEIGHLEI Y AND WORTH VALLEY RAILWAY TRUSTEES, ANNUAL REPORT YEAR EI NDED 5 APRTL 2024 Tlie ti'ust¢cs present thelr report and the unaudited financial stateinents of tl]e cl)arity for the y¢ai' ended 5 April 2024. Chaii's i'epoi"t This is my second report as Chairm8JJ. and I would like to tha))k all the Trnstee5 for all their hard woi'k. I would especially like to tliank David Pctyt who has stood down as Ti'easurer of tlie Charity in the yeai, We al'e gratcthl diat David renlai1 a Trustee, retaininE bis experience and H'isdom in the oi'ganisation, His role as Ti'easui'ei. is taken by John Hinchcliffe wlio fts also active in ilie running of tlie K¢iglil¢y and Worth Valley RaÉlway Pirservation Society and brings awealtli of business experience into tl)is Cliaiity. Additionally) I would like to express my tljanks to Bob Walkei, who senied as a Trustee witli distinctio befoi'e his "E'etiienienl" in June. We are grateful foi bis substantial contribulion over vay many yei's. The Tiijst has continued to support a number ofprojects on behalf of the Railway. Specifically, we liave been able to provide financial suppoi't for tlie overnll of War Depai'tment Locomotive 90733, Ilie 50 ton st¢am crane aiid towards tlie planning costs of the rebuildiiig of Bridge 27 at Haworth. The TIst,$ relationship with the Keighley and Worth Valley Railway Preservatioii Society Ltd lias continued to develop. Tn the previous year the Keigbley and Ivortli Valley Railway Trnst was itforined into what is now known as Tlie Friends of tlie l<ekghley and Worth Valley Railway. I am pleased that Dew Trustees hdve joined the Charity bringing new e'gY to the team and Stro[l)ening 21igninent with t]ie Keighley aJ]d Worth Valley Railway Preservation Society Ltd. The Friends are llow actively lookiiig into different ways foi. fund Taising with Dew approaches expectcd to b¢ introduced ii) tlie next year. Tlie report sl)ows tiiat our funds grew in the year based on Continued donations fi.om our supporta's, and additionally investment.(rains. The Iraves us well placed io provide fth. ongoing suppoi't for the Keighley and Woith Valley Railway in the years ahea(L
THE FRIENDS OF THE KEIGHLEY AND WORTH V2lLLEY RAILWAY TRUSTEES, ANNUAL REPORT ItilO11n¢dj YE*AR NDED 5 APRIL 2024 REFERENCE AND ADMENISTRATIVE DETAIts Registered ch'Ity ll#e Chai'lty reglstration numbei. Principal offIce The Friends of the Keigbl¢y and Worth Valley Railway 1032933 Hawoitli Station Hawoi'lli Keighley BD22 8NJ The trustees Mr S Bray- Chair Dr K A Cai'lton - Secretary Mr C H Clough Mr T England Mr D Hanson Mr J Hinchcliffe Mrs I M Jones Mr K Joiies Mr D Petyt Mr I Purkis ' P Seton Mr B SlaÉer Dr M J Stroh A TTall Mi. R Walker Mr N Ward Mi. G Way E A Sliort FCA Equltablc House 55 Pcllon IAne Halifax HXI 5SP (Appointed 19 Noveinbei" 2023) (Appointed 19 November 2023) (Appointed 19 Noveinber 2023) (Resigned 25 Julie 2023) Independent exan)iner Banks CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Mallin ME19 4JQ Vgi Money 46 Market Place Dewsbuiy WF13 IDN Shawbi'ook Bank Liinited Wai'ley Hill Business Pwk Gi"eat Wai"ley Brenhvood CM13 3BE
THE FRIENDS OF TH KEIGHLEI Y AND WORTH VALLEY RAILWAY TRUSTEES, ANNUAL REPORT (t&iW•i,. YEAR ENDED 5 APRIL 2024 STRucfu]iE, GOVERNANCE ATrID MANAGEMENT The Tst deed provides for no less than five and no more than diirty Trustees to be appointed, with tlie Trnstees being appointed by the DirecloiE of the Keighley and Woith Valley Railway Pi'eseivalioii SoGiety Ltd ivho endeavollr to ¢nsure that at least one Tiuste¢ irpreseiits each of tlie Societys sub- committees. In addition. Directors can appoint at least two independent Trustees who l)ave no repiesentatioiial fullction. During the year eiidillg 5 ApLiI 2024, there were between thirteen wid sixteen Ti'ustees witti three iiew Tiustees appointed. Wlii15t all tILe Ituslees are memb of tlie Keighley and Wort]i Valley Railway, ten of the Tivstees do not repi'e5ent any particular departtnenL Howevei, during the year the Keighley & Worth Valley Railway Preservatxon Society Ltd aiid The Iceighley & Woith Valley Railway Tt came to an agreeinent oil how tlie Tt sliould be refornied to better as&ist the Society wttl) fund rdising. Tn areMellt with the Charity Comfflission. tlie Iceigliley & Worth Valley Railway Trust has been i"enained The Friends of tlie KeigI]ley & Woi'th Valle31 Railway with no Enoi'e tban twenty Tte¢s. up to ten independei)t Trnstees. appointed by th¢inselves and up to ten Trustees appointed by the Keighley & Woith Valley Railway Preseivation Society. The Fiiends of the Iceighley & Woi'th Valley Railway is forn]ed gs follows:_ Independent Trust¢es DI" KA CaLlton Mr C H Clough Mr T Etigland Mr D HO[l M&"s l M Jones Mr K Jones Mi. D Petyt Mi" R Walker (resigned 25 June 2023) Mi"N Ward MrGWay Society iioknillated Trustees MrSDBray Mi. J Hinchcliffe Mi. I Purkis Mr P Seton Mi. B Slater Di M J Stroll Mrs A TTan In tlie y¢ar the trustees met five umes. New Tiustees are given an extract of tIie Cliarity Commission's Guidance CC3, updated 3 My 2018, The Essential Tru5tce" the guidance is edited to iEmovc material not itlevant to tli¢ TrusL Because Trustees We oiiginally appoiiited by the directors of the Keighley and Worth Valley Railway Pi.esetiOn Society Ltd, they 'e always Andividuals who have, or bave had, active involvemeiit witli Ilie Keigljley and Worlli Valley Railway so no fijrther induction to the Railway is Thecessaly. Tlie CliairniaT], Secretaiy and Ti'easurer do. however, provide any specific infoiination oi- advice a iiew Ti'u&tee Inay i-equije. The TiSteeS have examined the operational and business risks faced by the Ch&ity and confinn that tliey liavc esiablislied systems to mitigate significant risks.
THE FRIENDS OF THE KEIGHLEY AND WORTH VALLEY RAILWAY TRUSTEES, ANDTUAL REPORT (coMl#ied) YEAR EN'DED 5 APRIL 2024 OBJECTIVES AM) ACtIVlTIES Tl)e Trust wgs establislied 011 19 January 1994 as amended by deed dated 11 Janwdry 2015 with Llie objective of supporting the pi'eservatioffj Inaintenance and protection of ti)ose shCtu1.es, buildtiigs, planL loCo0t]Ves. i-olling stock and equipment of the lceigliley and Wortli Valley Railway whicl) al-e of histoiÈcal, ciiltural, architectural. constDJctional oi. scientific interest or which exhibit craftsmansliip woitliy of preSVation. The Fi'iends of Keighley & WortIi Valley Railway was fonned out of the original Tiwt by a Supplcment Trust dced daied 6 Novenibei. 2022, but with tlie sa]ne objectives. The Chaiity co-operates with the Keigliley and Worth Valley Light Railway Lld and the Keighley and Worth Valley Railway PreseNation Society Ltd iii order to acliieve its objectives. ACHIEVEMENTS AND PERf,ORMANCE Paymettts were made to the Keighley and Woith Valley Light Railway Ltd forwork on War Department locomotive No 90733. planni£ig tlie tebuilding of Bridge 27 and the 50 ton sten crane RSIOO5. PUBLIC BEI NE4 f4lT Tlie TKustees confirin tliat they havc paid due regaid to tlie Cliarity Conmnission's guidance on public benefit and considei. their atiiivities to be in compliance therewith. The Fi'iends of Iceighley & Worth Valley Railway i"eviewed its compliance with GDPR. PROCEDURES AND POIJCY MAKING GIL4NTS Tlie Friends of the Keighley & Worth Valley Railway Taises funds froin doiiations, beqLie51s, lo1$ and grants froni individuals )d bodies supportive of the charities aims wid disbuLses the funds in suppoi"t of pi'oje¢ts supported by tlie Dii"ectors of Keighley & Worth Valley Railway PreseTvation Society Ltd. The Trustees ineet oil a i'egular i)asis to consider wltst grltS tliey will make and to monitoi" tlie use of grants which have been inade.
THE FRIEI NDS OF THE KEIGHLLI Y AND WORTH VALLEI Y RAILWAY TRUSTLI ESI ANNUAL REPORT (c&iillohtAJ YEAR E¢ f4DLD 5 APRIL 2024 FINANCIAL REtVIEW Tlie opcratiiig suiyliTS foj. die year was £89,986 {2023 deficit - £64,191). Inade up of a SULpEus OJJ unrestricted fuLids of£58,511 (2023 defioit- £15,822) and a SULplus oll rests-icted fvnds Df £31.475 (2023 deficit- £48,369), wliich has beeii deducted froin iEseives. Uill'estrÈcled I'eserves at the eiid of tlie yeai. wei'e £190,874 (2023 - £132,363) and restrieled £245,547 (sui'plus- £214,072) whicli are used to finance additioiThl projects, activitle5 in tl)e ensuiiig yeai ]d as backup resee. Investsnent policy Tlie Tiu8tDeed autliorises tlie Trustto inake and bold iiwesttnents using the gen?1 fvnds of tlie ajarity. Tlie Trustees, policy is to invest in low-risk, iithiyst-bearing account& Rislc manageJ]ient The Trustees actively review the majoi. rislcs ai'eas that tlje Cbaiity faces on a regular basis and believe Il)at maintaining i'eserves al tlie cuiYenL levels, combined with an annual review olthe controls over tl)e key fjnajicial systems, will provide sufficient I'esouires in the even¢ of adveLse conditions, Re5eivu policy The Tnjst holds i'eselwes to support specific pi'ojects on The Keigbley & Woith Valley Railway and Ibese fithds are Ieleased upoii a specific request being received. As a itsult, the lid5 air Ileld by the Charity until the i'equesl has been i'eceived and aed by Éhe TTUStees to be funded, Until sucli tiine. funds arc lield ii) Icsei've by the Cliarity- PLAI4IS FOR FUTURE4 PERIODS Trust iiicorne remains sie&dy with regular standÉng orda. donations to the G>ierdl Fiind and specified rests'icted funds. The tsust¢es' annual r¢poi't was appiDved on 17 January 2025 and signed on belialf of tlic boai'd of triislees by: MR S BRAY Chair MR J HINCHCLIFfiE Tte¢
THE FIUENDS OF THE ]IGHL[l Y AND WORTH VALLEY RAILWAY INDEPEINDENT EXAMJNER'S REI PORT TO THE TRUSTEES OF THE FRIEThs OF THE I<EIGHLEY AND WORTH VALLEY RAILWAY YEAR ENDED 5 APRIL 2024 I report to the trLlStees on niy examination of ilie financial statements of Tlie Fj'iends of tlie Iceigliley and Wortli Valley R?ilway ('tlie charity,) foi the yeai ended 5 Apiil 2024. RESPONSIBILITIFS AND BASIS OF REI PORT As the ttustees of the charity you ai"e responsible for the preparation of the financiaI statements in accordauce with tl)e requiirfflents of the ch"lti Act 2011 ('Ihe Act,). I repoit ili iespect of iny examination of tlie charitls financial statements carried out under section 145 of the 2011 Act and in canyins out my examination I Ive followed all the applicable Dii'eclÉoLlS given by tbe ajarity Commission under section 145(5)(b) of the ACL INDEI PENDENT EXAMINER'S STATEMENT I Iiave coinpleted iny examinatioii. l eonfirm tlydt no matei'ial inalters have coine to my attention Én connection R?ith the ekamillation giviiig me cause to believe that in any mateiial Jespect: accounung i'ecords were not kept in respect of the cliarity as required by section 130 of the the finantial statements do not accord with those itcords: or the financial statements do not comply with the applicable requirenients concerning tlie foiin and content of accounls set out in the Charities (Accourtts and Reports) Regulations 2008 other than any requirement diat t]ie accounts give a 'trne 2nd fairf view whi¢h is J]ot a rnatlei. considered as pait of an independent examÉnation. I have no collcerns and have cojne acros5 no othei- matters in comiection witli t]ie exami1110Th to wbicb attelition should be th.awn in this repoj't in order to enable a proper understanding of the accounts to be reached. E A Shoi't FCA liidependent Examiner Equitable House 55 Pellon Lane H&lifax West Yod(5hire HXI 5SP
THE FRIENDS ofi THE KKIGHLEY AND WORTH VALLEY RAtLWAY STATEMENT OF FINANCIAL ACTIVITIES I AR ENDED 5 IlPRIL 2024 2024 R¢stiActed funds Total funds Total funds 2023 Unitstsicted nds Note Ineome and endoivments Donations and legaci¢s Otlier tradiJ]g activities Investment income 66,688 349 3.761 38,818 105,506 349 10,098 115,953 30,222 6.337 1281 Total income 70,798 45.155 32.503 Expendltllre Expcnditui-e on cliaritablc activities Total expenditure 12,287 20,735 33,022 33,022 92,732 92.732 12,287 20,735 Net gainsl(losses) on investjjients li 7,055 7,055 3.962 Net incoinel(expendlture) and net movement In funds 58,511 31,475 89,986 (64,191) Reconc1112tlon of fullds Total funds br'ought fotyiard Total fllnds cari'ied foyivard 132,363 190.874 214.072 346,435 436,421 410,626 245,547 346,435 Tlie statement of financial activities inL.ludes all gains and losses recognised in the yeai.. All income and expenditure derive from ¢ontinuing activities. Tlie iiotos on pages 9 to 16 form part of these fjiiancial statenients.
THE FRIE4 NDS OF THE I<EI IGHLEI Y AND WORTH VALLLI Y RAILWAY STATEMENT OF FINANCIAL POSITION 5 APRIL 2024 2024 2023 Note FIXED ASSETS liivesknneLIts 15 205.203 194,038 CUIiRENT ASSEI TS Debt013 Cash at bonk aiid in Iiwid 16 8,0011 225,218 233218 3,112 151,085 154,197 CREDITORS. ajntjunts falling due Iviuiiu oiie year 17 2.000 1.800 NET CURRENT ASSETS 231.218 152,397 TOTAL Assrfs LESS CURRENT LIABILITtL8 436,421 436,421 346,435 346,435 NET ASSEI TS FUNDS OF CHARITY Restricted funds Unrestticled fuiids 245,547 190,874 436,421 21.4,072 132J63 346,435 Total chai'ity funds 18 These fiL)ancial statetn¢nts were approved by tli¢ boai"d of ttustees and auth'iSed for issueon 17 Januai'y 2025, and are SiEned on behalf of tiie board by. MR S BRAY aiair J HINCHCLIFF Tntstee Tlie iiotes 012 pllges 9 to 16 foi'm pait Dr tliese financiRI statemeiits,
THE FRIEt NDS OF THE KEIGHLEY AND WORTH VALLEY RAILWAY NOTES TO THE FINANCIAL STATEMENTS YE4 AR ENDED S APRIL 2024 GENERAL INFORMATION The chai'lty is a pubtic benefit entity and a registered chaTlty in England and Wales and Is iinincoÈporated. The address of thc piincipal offic¢ is Hawoith Station, Hawoitii, Keigliley, BD22 8NJ. STATETrIENT OF COMPLIANCE These financial stateinents bave been prepared in coinpliance with FRS 102, 'The Financial Reporting Standard applicable in tlie UK and tlie Republic of li'eland,, the StateÉnent of Recomniended Practice 2ppIic2ble to cliai'ities ep.Ing theii accounts in accordance witli the Financial Reporting Standard applicable in tlie UK and Republic of li'eland (FRS 102) (Charities SORP (FRS 102)) and tlie Cliarities Act 2011. ACCOUNTING POLICIEI S Basis of preparation The fin(Incial statements have be£n piEpaitd on tlie histori1 cost basis, as modified by tlie revaluation of ceitain financial assets and liabilities and investment properttes measwEd at fair value tllrough Kncome or expenditure. Thc financial slateinents are prepaied in slerling. which is the futsetsonal Currency of the entity. Going concern Thei'e are no material uncertainties about the ch]S abili(y to continue. udgements and key sources of estimation ullcertainty Tlie pi'eparation of the ftnancial statements requtrcs management to inake judgements, estimates atid assumptions that affect the amounts reported. These estiinat&s and judgejnents al'e continiially Ltviewed aiid aLe based on experiejice and oilier facto, ineliiding expectations of futui'e events diat are b¢li¢v¢d to be rtrdsoi7able undffl the circuinstances. Thei'e aL'e not considei-ed to be any judgements or accountiiig estiniates or assumptions that liave a Significant impact on th¢ fumncial sÉatanents. Fund accounting UmEStricted funds are ayailable foruse at the discretion of the trustees to furtlier any of the cknity's puiposes. Designated ndS unreslricted fiu]ds earniarked by the tn]stees for particular future pmject or commitsnent. Resti'icted lldS are siibjected to restrictions on dieir expendithre declared by the donor oi. tlu'ough the temis of an appeal.
THE FRIENDS OF THE KEIGHLEY AND WORTH VALLEY RAILWAY NOTES TO THE FINANCIAL STATEMENTS Icowiiuii¢dJ YEAR ENDED 5 APRIL 2024 ACCOUNTING POLICIES (eonlifviiedj lllcomiiig resources All income is included in the stateinent of financial activities wlien entitlement has passed to tlie Charity, it is probable that tlie ecoiiomic bcnefits associated with the transaction will flow to tlie charity and Ilie aniount can be r¢liably inea5ured. The following specific policies ale applied to partiCul- categojies of income: Income from doi)ations or grants is recogni5ed when there is evidence of entitleinent to tlie gift, receipt is pi'obable and its amount can be measured reliably. Legacy income is recognised wlien receipt is piDbable and entitlement is established. Incoine from donated goods is ineasui.ed at the fail value of the goods u])less thÉs is iinpractical to measure reliably, iii whicli case the value is derived fi'om d)e cost to the donoi. or tlie estitnated i'esale value. Doiiated facilities and services are recognised in the accounts wl)eii J'eceiired if the valiie can be i"ekiably measw'ed. No amounts are included for tlie contribution of general voluiiteeis. Investtneni income As accounted foi. in tlie period in whicli the Chnrity ts entitled to i'eceipL Gift Aid ieclaiinablc on donations to the tharily is included wlien the Ceipt is probable and its ainount can be measured reliably. Resoui'tes eypended Expendittu'e is reeognised on an accrnals basis a5 a liability is incurred. Expenditure includes any VAT iyhich cannot be fully r¢coveiE(L avd is classified under heading5 of the statement of financial activities Èo which it ielates". Expenditui'¢ on raising funds includes the costs of ail fijndraising actiiiities, events, non-chai'Ltable trading activities, tlie sale of donated goods. Expenditui'e on charitable activities includes all costs incunrd by 2 charity ID undertaking activities that further its chaiitable aims for tlie bellefit of ils benefLciai'ies. includiiig tbose suppoi't costs and costs relating to the governance of the chaiity apportioned to chaiitablc activkties. Expenditu]e on grants is recorded ollce the Trust lias madean unconditional commitmcnt to pay tlie gi'ant and tliis is coniniimicated to the beneficiary or tlie grant lias been pai wliiclievei- is the eai'liei". The Ttwst has not Inade aiiy nt COLnmittnents of more Ilian one ycar. Other expellditure includes all expendtture that is neither itlated to raising funds for the chaiity nor part of ils expenditure on charitable activities. All costs are allocaled to expendittire categories reflecting die use of the resouire. Diitct cosss attribulablc to a single activity are allocated directly to tliat activity. Sliared LA)sts al'e appurtioned between tlie activities they contiibute lo a reasonable, justifkable and coiisistent b&8iS. io
THE FRIENDS OF THE KEIGHLEY AND WORTH VALLEY RAILWAY NOTES TO THE FINANCIAL STATEMENTS l¢vwilvttedJ YEI AR ENDED 5 APRIL 2024 Firka)Iclal Instruiments The cojnpany only ba5 financial assets and fEnancial liabilities of a kiiid that qualify as basic financial instrnments. Bosic financial instruinents are initially recognised at tL7nsactÉon valiie and subsequently measured at their settlement iralue witl) the exception of baiik loans which are subsequently measui'ed at amortised coslusing th¢ effective interest inetliod. DONATIONS AND LEt GACIES Unrestricted Fiinds Rests'icted Total Funds Funds 2024 DONATIOF4S Donations 2.228 38,818 41,046 LEGACIES Bequesl 56.433 GIFTS Gift Aid Receivable 8.027 8,027 IOS,506 66,688 38,818 urul¢ted Fiinds Rcstiicted Tot&1 Fuods Funds 2023 DONATIONS Donations 2.026 14,403 16,430 LEGACIES Bequest 10.746 10,746 GIFfS Gift Aid Receivable 10 3,037 17,440 3,046 30.222 12,782 OTHER TRADING ACTIVITIES Um'estricted Total Funds UnLrstticted Total Funds Funds 2024 Funds 2023 Fundraising events 349 349 li
THE FRIENDS OF THE KEIGHLEY AND WORTH VALLEY RAILWAY NOTEI S TO THE FINANCIAL STATtI MLI NTS (rvi,,,,,. YEAR ENDED 5 APRIL 2024 INVEI STTrI IEI NT INCOME Ulesl¢tcd Restricted Total Funds Funds Funds 2024 Income from listed investh)eiits Baiik intelest 6,337 6,337 3,761 3.761 3,761 6,337 10,098 Unrestricted RttiCted Total Funds Fun(Is Funds 2023 Income from listed investrnents Bank inteirst 152 2,129 2,129 2.281 152 2.281 EXPLYDJTURE ON CHARITABLE ACTIVITIES BY FUND TYPE Urlltstricted Fullds Restricted Total Funds Funds 2024 Grants paid Support costg 8,125 4,162 20,735 28,860 4,162 12,287 20.735 33.022 UnSicted Restt1Cted Totsl FuTids Fuiids 2023 G17nts paid Suppoit costs 20,913 3,881 24,794 67.938 88,851 3.881 67.938 92,732 EXPETrIDITURE ON CHARITABLF. ACTIVTTIES BY ACTIVITY TYPE funding of activities Suppoit costs Total funds 2024 Total tund 2023 Gri]nls paid Govemance costs 28.860 28,860 4,162 33.022 88,851 3.881 4,162 28,860 4,l62 92,732 12
THE FRIENDS OF THE KE4 IGHLEY AND WORTH VALLEY RAILWAY NOTES TO THE FINANCIAL STATEMENTS I YEAR NDED 5 APRIL 2024 SUPPORT COSTS Support costs Total 2024 Total 2023 GeneTal office Fin2nce costs Investment management fees Independejit exami]tion 25 72 2,000 1.784 55 2,227 1,880 5S 2,227 1,880 4,162 4,162 10. ANALYSTS OF GRAINTS 2024 2023 GRthTS TO INSTITUTIONS Keighley and Wortli Vallcy Light Railivay Ltd Total gllts 28,860 28,860 88,851 88,851 11. NET GAINSI(LOSSL8) ON INVKSTIVIENTS Uniestticled Funds Restricted Total Funds Fl(L 2024 Gain(LoSses) on listed investLnents 7,055 7,055 Uniestt"icted Funds Restricted Total Funds Funds 2023 Gainsl(loss&s) on listed investments {3,962) (3,962) 12. INDEPENDENT EXAMINATION FEES 2024 2023 Fees payable to the independertt examiner for. Independent exainination of the financial statements 1,880 1.784 13. STAFf£ COSTS The average head count of anployees during the year was Nil (2023: Nil). No cmployee received employee benefits of n)OiE than £60.000 duriiig the year (2023: Nil). 13
THE FRIEI NDS OF THE KEIGHLEY AND WORTH VALLEY RAILWAY NOTES TO FINANCIAL STATEMENTS (ethif. YCAR E4 NDED S APRIL 2024 14. TRUSTEE RElktUNERATION AND EXPENSES No remuneration or otha benefits from cmploymcnt witli die ch&ity oi a related entity were Irceived by the trustees 15. INVESTMELNTS Cash or cash Othei equivalents tllv¢stments Total Cost or valuation At 6 April 2023 Additions Disposals Fair valu¢ moveinents OtheL rnovements 42,716 151,322 95,833 (56,982) 7,506 194,038 95,833 (56,982) 7,506 (35,192) 205,203 (35,192) 7,524 At S Api'i12024 Impairment At 6 Api'il 2023 and 5 April 2024 Carryiiig amount At 5 April 2024 At 5 April 2023 197,679 7.524 197,679 205,203 194,038 42,716 J51,322 All investhlents shown above are held at lialition. 16. DEBTORS 2024 2023 Trade d¢btOLS Othcr debtors 75 3.037 8,000 8,000 3,112 17. CRE, DITORS: amoullts falllng due wltliin one year 2024 2023 Accwals and defeed income 2,000 1,800 14
THE FRIENDS OF THE KEIGHLEY AND WORTH VALLEY RAILWAY NOTES TO THE FIIYANCIAL STATEMENTS IcoiiiiNNedJ YEAR ENDED 5 APRIL 2024 18. ANALYSIS OF CHAR]TABLEr FUNDS Unr&strlcted funds Gains and losses 5 Api'il 2024 6 April 2023 Incoine Expeiiditui'e General funds Wakr Tower 117,363 15,000 70,798 (12,287) 175,874 15,000 132,363 70,798 {12,287) 190,874 Gains and losses 5 April 2023 6 April 2022 Incoiiie Expendittire General funds Water Tower 133,185 15,000 148,J85 12,934 (24,794) (3,962) 117,363 15,000 12,934 (24.794) (3,962) 132,363 Restricted funds Gains and losses 5 April 2024 6 April 2023 Incoine Expendithre 957 Overliaul W D Ovei'haul Black Five Fund 75078 Fund 4F Fund Diesel DMUIDR Stcam Crane Fund Bridge Appeal Cai'riag¢s and wagons 15,393 35,669 86.099 19.271 4.205 721 48.962 3,752 5.459 1.308 3.371 7,159 364 21 1.450 1.023 25,000 508 1,175 2,837 635 139 24 1.613 124 21,360 29,124 92,307 27,065 4,708 766 45,318 (ioi) 25,000 245,547 (9,028) (6,707) (5.000) 214.072 45,155 (20,735) 7,055 Gains and losses 5 April 2023 6 April 2022 Income Expenditure 957 Overhaul W D Overliaul Black Five Fund 75078 Fund 4F Fund Diesel DMUIDRB Steam Crane Fund Bridge Appeal Carriag¢s and wagons 11,061 59,202 84.210 49,390 3,842 714 51,579 2.443 4.332 1.267 1.889 9,881 363 15,393 35.669 86,099 19.271 4,205 721 48.962 3,752 {24,800) (40,000) 521 1.309 (3,138) 262,441 19,569 (67.938) 2E4,072 15
THE FRIENDS OF THE KEIGItLEY AND WORTH VALLEI Y RAILWAY NOTES TO THE FINANCIAL STATEMENTS (to1 YEAR EIYDED 5 APRIL 2024 Pui'poses of Restiicted Income Funds The fimds represent donations and lax credits, less expendithit to date for Ilie refurbislllnent of the specified it8. 19. ANALYSIS OF TriET ASSETS BETWEEN FUNDS Unrestsicted Funds Restricted Total Ilunds Funds 2024 Investsnents Current assets Creditors less than l year Net assets 205,203 40,344 205,203 233,218 (2,000) 416,421 192,874 (2,000) 190.874 245,547 Unrestsicted Fund5 Restricted Total Funds Fun(Ls 2023 Investments Cunent assets c1edito less tliati l yeai. Net r48sets 194,038 20,034 194.038 154,197 (1,800) 346,435 134.163 (1,800) 132,363 214,072 20. RELATED PARTIES Tlie trustees of Iceigliley and Worth Valley Railway Twst aic appointed by the dii'e¢toi% of The Keigliley and Worlli Valley Railway Preservation Soclety Limited. Th¢ Ti'ust paid 2ftts to Keighley and Worth Valley Light Railivay Liniited of £28,860 (2023: £88,851. io