## **5305 LOCOMOTIVE ASSOCIATION**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
**Charity number: 1190609**
## **5305 LOCOMOTIVE ASSOCIATION**
|**CONTENTS**|||
|---|---|---|
||**Page**||
|**Reference and administrative details of the organisation, its Trustees and advisers**||**1**|
|**Trustees' report**||**2**|
|**Independent examiner's report**||**3**|
|**Statement of financial activities**||**4**|
|**Balance sheet**||**5**|
|**Notes to the financial statements**||**6**|
## **5305 LOCOMOTIVE ASSOCIATION**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE ORGANISATION, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2022**
## **Trustees**
A Berck-May M Wigley J Street P L Hackney
Chair Appointed 27 April 2019 Treasurer Appointed 05 December 2020 Appointed 27 April 2019 Appointed 13 November 2016
## **Charity registered number**
1190609
## **Charity office**
65 Wappenham Road Helmdon Brackley NN13 5QA
## **Independent Examiner**
Mrs J Crompton JC Bookkeeping & Accounts 64 Redearth Road Darwen Lancashire BB3 2AF
## **Bankers**
Virgin Money 46 Coney Street York Y01 9NQ
## **5305 LOCOMOTIVE ASSOCIATION**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2022**
The trustees have pleasure in presenting their report together with the financial statements of the charity for the year ended 31 March 2022.
## **CONSTITUTION AND OBJECTIVES**
The charitable trust is constituted by the trust deed dated in 1994.
The Society’s principal activity continues to be that of renovating and running steam locomotives.
## **REVIEW OF DEVELOPMENTS, ACTIVITIES AND ACHIEVEMENTS**
The trustees have issued a separate, detailed report of the development, activities and achievements of the charity.
## **RESULTS**
The results for the year and the charity’s financial position at the end of the year are shown in the attached financial statements.
## **RISK REVIEW**
The trustees have conducted a review of the major risks to which the charity is exposed and the systems which have been established to mitigate those risks. These procedures are periodically reviewed to ensure that they still meet the needs of the charity.
## **TRUSTEES**
Appointment of trustees is governed by the Trust Deed of the Charity and the Board of Trustees is authorised to appoint new trustees to fill vacancies arising through resignation or death of an existing trustee.
## **RESPONSIBILITIES OF THE TRUSTEES**
The charity's trustees are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales 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 and of the incoming resources and application of resources of the charity for that period. In preparing these 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 judgements and estimates that are reasonable and prudent;
State whether applicable accounting standards 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 operation.
The trustees are responsible for keeping proper accounting records that 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 Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008. 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.
## **INDEPENDENT EXAMINER**
Mrs J Crompton has been appointed as independent examiner for the ensuing year.
Signed by order of the trustees
M Wigley (Treasurer) - Date: 31/01/2023
## **5305 LOCOMOTIVE ASSOCIATION**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2022**
## **INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF 5305 LOCOMOTIVE ASSOCIATION**
I report on the accounts of the charity for the year ended 31 March 2022 which are set out on pages 4 to 5.
## **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 (the 2011 Act) and that an independent examination is required.
It is my responsibility to:
examine the accounts under section 145 of the 2011 Act;
to follow the procedures laid down in the general directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
to state whether particular matters have come to my attention.
## **BASIS OF INDEPENDENT EXAMINER'S REPORT**
My examination was carried out in accordance with the 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 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 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 2011 Act; and
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 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.
Mrs J Crompton BSc (Hons) MICB PM.DIP Independent examiner 64 Redearth Road Darwen Lancashire BB3 2AF
Date: 31/01/2023
## **5305 LOCOMOTIVE ASSOCIATION**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2022**
||**Note**|**Unrestricted**|**Restricted**|**Total**|_Total_|
|---|---|---|---|---|---|
|||**funds**|**funds**|**funds**|_funds_|
|||**2022**|**2022**|**2022**|_2021_|
|||**£**|**£**|**£**|_£_|
|**_INCOME FROM:_**||||||
|Donations and legacies|3|**8,221**|**5,989**|**14,209**|_16,911_|
|Other trading activity|4|**24,753**|**-**|**24,753**|_15,671_|
|Investments|5|**-**|**-**|**-**|_-_|
|**_TOTAL INCOME_**||**32,974**|**5,989**|**38,963**|_32,582_|
|**_EXPENDITURE ON:_**||||||
|Raising funds|6|**671**|**-**|**671**|_614_|
|Charitable activities|7|**25,890**|**599**|**26,489**|_16,247_|
|**_TOTAL EXPENDITURE_**||**26,560**|**599**|**27,159**|_16,861_|
|**_NET (EXPENDITURE)/INCOME_**||**6,414**|**5,390**|**11,803**|_15,721_|
|Transfers betweend funds|13|**-**|**-**|**-**|_-_|
|**_NET MOVEMENT IN FUNDS_**||**6,414**|**5,390**|**11,803**|_15,721_|
|**_RECONCILIATION OF FUNDS:_**||||||
|Total funds brought forward as previously|stated|**68,681**|**14,704**|**83,385**|_67,664_|
|Net movement in funds||**6,414**|**5,390**|**11,803**|_15,721_|
|**_TOTAL FUNDS CARRIED FORWARD_**||**75,094**|**20,094**|**95,188**|_83,385_|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 6 to 13 form part of these financial statements
## **5305 LOCOMOTIVE ASSOCIATION**
## **BALANCE SHEET**
## **FOR THE YEAR ENDED 31 MARCH 2022**
|**ASSETS EMPLOYED:**
**Notes**
**_FIXED ASSETS_**
Tangible Fixed Assets
9
**_CURRENT ASSETS_**
Stocks
Debtors: amounts falling due within one year
10
Cash at bank and in hand
**_CREDITORS: Amounts falling due within one year_**
11
Trade Creditors
**_NET CURRENT ASSETS_**
**_TOTAL ASSETS LESS CURRENT LIABILITIES_**
**_CREDITORS: Amounts falling due after_**
**_more than one year_**
12
**_NET ASSETS_**
**_CHARITY FUNDS_**
**_RESERVES_**
Restricted funds
13
Unrestricted funds
13|**2022**
**£**
**3,379**
**3,379**
**500**
**2,565**
**91,432**
**94,497**
**(2,688)**
**(2,688)**
**91,809**
**95,188**
**-**
**95,188**
**20,094**
**75,094**
**95,188**|**2021**
_£_
_3,975_|
|---|---|---|
|||_3,975_
_500_
_12,165_
_69,965_|
|||_82,630_
_(3,220)_
_(3,220)_|
|||_79,410_|
|||_83,385_
_-_|
|||_83,385_|
|||_14,704_
_68,681_
|
|||_83,385_|
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
M Wigley (Treasurer)
Date: 31/01/2023
**5305 LOCOMOTIVE ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## _**1 GENERAL INFORMATION**_
The organisation is a Charitiable Trust. The members of the organisation are the Trustees named on page 1.
The registered address is:
65 Wappenham Road Helmdon Brackley NN13 5QA
## _**2**_ **ACCOUNTING POLICIES**
## _**2.1**_ **Basis of preparation of financial statements**
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice 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.
The 5305 Locomotive Association meets the definition of a public benefit entity under FR 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## _**2.2**_ **Going concern**
The Trustees assess whether the use of going concern is appropriate, i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Trust to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the organisation has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the organisations ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
## _**2.3**_ **Income**
All income is recognised once the organisation has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Gifts donated for resale are included as income when they are sold. The Trustees acknowledge that they are assets of the organisation as soon as received but the minimal value of these assets makes it uneconomic to value them prior to sale. No amounts are included in the financial statements for services donated by volunteers.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
## **5305 LOCOMOTIVE ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## _**2**_ **ACCOUNTING POLICIES (continued)**
## _**2.4**_ **Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.
Charitable activities are costs incurred on the organisations charitable operations, including support costs and costs relating to the governance of the organisation's apportioned to charitable activities.
## _**2.5**_
## **Tangible fixed assets and depreciation**
All assets costing more than £300 are capitalised.
Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Equipment 15% Reducing balance
## _**2.6**_ **Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the organisation; this is normally upon notification of the interest paid or payable by the Bank.
## _**2.7**_ **Stocks**
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsleete and slow moving stocks.
## _**2.8**_ **Debtors**
Trade and other debtors are recognised at the settlement amount.
Where the effect of the time value of money is material the asset is based on the present value of those amounts, discounted at the pre tax discount rate the reflects the risks specific to the asset. The unwinding of the discount is recognised within interest receivable.
## **5305 LOCOMOTIVE ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## _**2**_ **ACCOUNTING POLICIES (continued)**
## _**2.9**_ **Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## _**2.10**_ **Liabilities and provisions**
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.
## _**2.11**_ **Financial instruments**
The organisation only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## _**2.12**_ **Fund Accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the organsiation and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by theorganisation for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
**5305 LOCOMOTIVE ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## _**3**_ **INCOME FROM DONATIONS AND GRANTS**
||**Unrestricted**|**Restricted**|**Total**|_Total_|
|---|---|---|---|---|
||**funds**|**funds**|**funds**|_funds_|
||**2022**|**2022**|**2022**|_2021_|
||**£**|**£**|**£**|_£_|
|Donations|**8,221**|**5,989**|**14,209**|_16,911_|
|Legacies|**-**|**-**|**-**|_-_|
|Tax recoverable on gift aid on donations & subscriptions|**-**|**-**|**-**|_-_|
|Grants|**-**|**-**|**-**|_-_|
||**8,221**|**5,989**|**14,209**|_16,911_|
||||||
|_Total 2021_|_2,207_|_14,704_|_16,911_||
## _**4 FUNDRAISING INCOME**_
|Operations
Fund Raising at Events
_Total 2021_
**_5_**
**_INVESTMENT INCOME_**
Bank interest
_Total 2021_|**Unrestricted**
**Total**
_Total_
**funds**
**funds**
_funds_
**2022**
**2022**
_2021_
**£**
**£**
_£_
**22,896**
**22,896**
_15,671_
**1,857**
**1,857**
_-_|
|---|---|
||**24,753**
**24,753**
_15,671_|
||_15,671_
_15,671_
**Unrestricted**
**Total**
_Total_
**funds**
**funds**
_funds_
**2022**
**2022**
_2021_
**£**
**£**
_£_
**-**
**-**
_-_|
||**-**
**-**
_-_|
||_-_
_-_|
## **5305 LOCOMOTIVE ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 MARCH 2022**
## _**6 RAISING FUNDS**_
|Fund raising expenditure
_Total 2021_|**Unrestricted**
**Total**
_Total_
**funds**
**funds**
_funds_
**2022**
**2022**
_2021_
**£**
**£**
_£_
**671**
**671**
_614_
**-**
**-**
_-_|
|---|---|
||**671**
**671**
_614_|
||_614_
_614_|
## _**7**_
|**_CHARITABLE ACTIVITIES_**
Locomotive Maintenance
Transport
Depreciation
Accountancy
Insurance
Sundry|**Unrestricted**
**Restricted**
**Total**
_Total_
**funds**
**funds**
**funds**
_funds_
**2022**
**2022**
**2022**
_2021_
**£**
**£**
**£**
_£_
**15,428**
**599**
**16,027**
_124_
**-**
**-**
**-**
_4,700_
**596**
**-**
**596**
_702_
**710**
**-**
**710**
_550_
**9,152**
**-**
**9,152**
_9,545_
**3**
**-**
**3**
_626_|
|---|---|
||**25,889**
**599**
**26,489**
_16,247_|
||_16,247_
_-_
_16,247_|
## _**8**_ **TRUSTEES' REMUNERATION AND EXPENSES**
During the year, no Trustees received any remuneration or other benefits.
## **5305 LOCOMOTIVE ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 MARCH 2022**
## _**9 TANGIBLE FIXED ASSETS**_
|**COST**
At 01 April 2021
Additions
At 31 March 2022
**DEPRECIATION**
At 01 April 2021
Charge for the year
At 31 March 2022
**Net book value**
At 31 March 2022
_At 31 March 2021_
**_10_**
**_DEBTORS_**
**Due after more than one year**
Other debtors
**Due within one year**
Other debtors
Tax recoverable|**Total**
**£**
**£**
5,060
**5,060**
**-**
**-**
**Plant &**
**Equipment**|
|---|---|
||**5,060**
**5,060**|
||**1,085**
**1,085**
**596**
**596**|
||**1,681**
**1,681**|
||**3,379**
**3,379**|
||_3,975_
_3,975_|
||**2022**
_2021_
**£**
_£_
-
_-_|
||**2022**
_2021_
**£**
_£_
**2,565**
_12,165_
**-**
_-_|
||**2,565**
_12,165_|
## **5305 LOCOMOTIVE ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 MARCH 2022**
## _**11 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**_
|Trade Creditors
Other taxation and social security
Accruals and deferred income|**2022**
_2021_
**£**
_£_
-
_0_
**2,088**
_2,670_
**600**
_550_|
|---|---|
||**2,688**
_3,220_|
## _**12 CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**_
|Other loans|**2022**
_2021_
**£**
_£_
**-**
_-_|
|---|---|
||**-**
_-_|
## _**13 STATEMENT OF FUNDS**_
**Statement of funds - current year**
|**Unrestricted funds**
Capital Fund
General Fund
Designated Fund
**Restricted funds**
Knights of the Round Table Appeal
**Total of funds**
**Statement of funds - prior year**
**Unrestricted funds**
Capital Fund
General Fund
Designated Fund
**Restricted funds**
Knights of the Round Table Appeal
**Total of funds**
**Unrestricted Funds**|**Balance at 31**
**Balance at 31**
**March**
**Transfers**
**March**
**2021**
**Income**
**Expenditure**
**In/Out**
**2022**
**£**
**£**
**£**
**£**
**£**
**3,875**
**-**
**(596)**
**-**
**3,279**
**64,806**
**32,974**
**(25,964)**
**-**
**71,816**
**-**
**-**
**-**
**-**
**-**|
|---|---|
||**68,681**
**32,974**
**(26,560)**
**-**
**75,094**|
||**14,704**
**5,989**
**(599)**
**-**
**20,094**|
||**14,704**
**5,989**
**599**
**-**
**-**
**20,094**|
||**83,385**
**38,963**
**(27,159)**
**-**
**95,188**|
||**Balance at 31**
**Balance at 31**
**March**
**Transfers**
**March**
**2020**
**Income**
**Expenditure**
**In/Out**
**2021**
**£**
**£**
**£**
**£**
**£**
_997_
_3,680_
_(702)_
_-_
_3,975_
_99,472_
_27,780_
_(78,267)_
_-_
_48,985_
_-_
_-_
_-_
_-_
_-_|
||_100,469_
_31,460_
_(78,969)_
_-_
_52,960_|
||_-_
_14,704_
_-_
_-_
_14,704_|
||_-_
_14,704_
_-_
_-_
_14,704_|
||_100,469_
_46,164_
_(78,969)_
_-_
_67,664_|
|||
The Capital Fund represent funds held as fixed assets.
The General Fund is the surplus accruing from membership income, fund raising , donations and Gift Aid whch can be used as Trustees see fit. The designated fund represents funds which have been set aside by trustees for essential spend such as operating costs.
## **Restricted funds**
Provision is made in the funds for donations recieved for the Knights of the Round table Appeal
## **5305 LOCOMOTIVE ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 MARCH 2022**
## _**14 ANALYSIS OF NET ASSETS BETWEEN FUNDS**_
## _**Analysis of net assets between funds - current period**_
|Tangible Fixed Assets
Current assets
Creditors due within one year
Creditors due in more than one year
**Total**|**Unrestricted**
**Restricted**
**Total**
**funds**
**funds**
**funds**
**2022**
**2022**
**2022**
**£**
**£**
**£**
**3,379**
**-**
**3,379**
**94,497**
**-**
**94,497**
**(2,688)**
**-**
**(2,688)**
**-**
**-**
**-**|
|---|---|
||**95,188**
**-**
**95,188**|
## _**Analysis of net assets between funds - prior period**_
|Tangible Fixed Assets
Debtors due after more than one year
Current assets
Creditors due within one year
Creditors due in more than one year
**Total**|_Unrestricted_
_Restricted_
_Total_
_funds_
_funds_
_funds_
_2021_
_2021_
_2021_
_£_
_£_
_£_
_3,975_
_-_
_3,975_
_12,165_
_-_
_12,165_
_70,465_
_-_
_70,465_
_(3,220)_
_-_
_(3,220)_
_-_
_-_
_-_|
|---|---|
||_83,385_
_-_
_83,385_|
Signed By
## matthew wigley
Date Signed 2023-02-01 18:59:27 Email matthew.wigley9@gmail.com Printed Name matthew wigley IP Address 92.18.163.159 Browser User Agent Mozilla/5.0 (Windows NT 10.0; Win64; x64) AppleWebKit/537.36 (KHTML, like Gecko) Chrome/109.0.0.0 Safari/537.36 Name of signatory Matthew Wigley