2020-12-31-accounts - Llangollen Railway Trust Limited

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

					Page
Report ofthe Trustees				I	to	5
Independent Examiner's		Report
Statement ofFinancial		Activities
Balance Sheet				8	to	9
Notes to the Financial	Statements			I0	to	19
Detailed Statement of	Financial		Activities	20	to	21

FINANCIAL REVIEW	FINANCIAL REVIEW
Restricted	funds
Total Restricted funds		1,841,750
I ess:
Restricted	Tangible assets	(1,641,262)
Restricted	Investment	(61,024)
Restricted	funds held for future
periods (Bank):		139,464
Unrestricted	funds:	345,477

			STATEMENT OF FINANCIAL ACTIVITIES	STATEMENT OF FINANCIAL ACTIVITIES	STATEMENT OF FINANCIAL ACTIVITIES	STATEMENT OF FINANCIAL ACTIVITIES
		INCORPORATING		AN INCOME	AND EXPENDITURE ACCOUNT
			FOR THE	YEAR ENDED 31STDECEMBER 2020
							31.12.20	31.12.19
					Unrestricted	Restricted	Total	Total
					fund	fund	funds	funds
				Notes
INCOME AND ENDOWMENTS			FROM
Donations and legacies				2	324,659	10,904	335,563	122,100
Other trading activities					46,863	86,514	133,377	50,419
Investment income					25		25	257
Total					371,547	97,418	468,965	172,776
EXPENDITURE	ON
Raising funds				5	119,081		119,081	20,625
Charitable activities
General costs					56,230	1,838	58,068	110,420
Property costs					33,505	45,003	78,508	50,399
Total					208,816	46,841	255,657	181,444
Net gains/(losses)	on investments				(175,560)	(45,000)	(220,560)
NET INCOME/(EXPENDITURE)					(12,829)	5,577	(7,252)	(8,668)
Transfers between funds				15	(18,588)	18,588
Net movement in	funds				(31,417)	24,165	(7,252)	(8,668)
RECONCILIATION		OF FUNDS
Total funds brought		forward			376,894	1,817,585	2,194,479	2,203,147
TOTAL FUNDS	CARRIED FORWARD				345,477	1,841,750	2,187,227	2,194,479

				31.12.20	31.12.19
		Unrestricted	Restricted	Total	Total
		fund	fund	funds	funds
	Notes
FIXEDASSETS
Tangible assets Investments	10 Il	338,611 I	1,641,262 61,024	1,979,873 61,025	2,007,631 281,585
		338,612	1,702,286	2,040,898	2,289,216
CURRENT ASSETS
Debtors	12	23,525		23,525	20,986
Cash at bank and in hand		13,103	139,464	152,567	64,349
		36,628	139,464	176,092	85,335
CREDITORS
Amounts falling due within one year	13	(29,763)		(29,763)	(180,072)
NET CURRENT ASSETS		6,865	139,464	146,329	(94,737)
TOTAL ASSETSLESS CURRENT
LIABILITIES		345,477	1,841,750	2,187,227	2,194,479
NET ASSETS		345,477	1,841,750	2,187,227	2,194,479
FUNDS	15
Unrestricted funds				345,477	376,894
Restricted funds:
Restricted				1,841,750	1,817,585
TOTAL FUNDS				2,187,227	2,194,479

2.	DONATIO	NS	AND LE	GACIES
								31.12.20	31.12.19
						Unrestricted	Restricted	Total	Total
						funds	funds	funds	funds
	Donations					208,006	5,027	213,033	41,461
	Gifl aid					47,724		47,724	6,051
	Legacies					21,274		21,274	38,205
	Grant income					47,655	5,877	53,532	36,383
						324,659	10,904	335,563	122,100
	Grants received, included			in the above, are as follows:
								31.12.20	31.12.19
	Welsh Assembly							5,877	33,642
	Cadwyn Clwyd							7,655	2,741
	Denbighshire		CC Covid-19					40,000
								53,532	36,383
3.	OTHER TRADING ACTIVITIES
								31.12.20	31.12.19
						Unrestricted	Restricted	Total	Total
						funds	funds	funds	funds
									8
	Fundrai sing	events					86,514	86,514
	Subscriptions					32,119		32,119	27,262
	Magazines,	raffles and locomotive			hire	3,018		3,018	1,800
	Holiday letting		income			8,351		8,351	21,202
	Other sales					3,375		3,375	155
						46,863	86,514	133,377	50,419
4.	INVESTMENT INCOME
								31.12.20	31.12.19
						Unrestricted	Restricted	Total	Total
						funds	funds	funds	funds
							8	g
	Bank interest					25		25	56
	Interest received on gifl aid payments								201
						25		25	257

						31.12.20	31.12.19
				Unrestricted	Restricted	Total	Total
				funds	funds	funds	funds
							8
	Hire ofplant	and machinery		1,745		1,745
	Bad debts			103,748		103,748
	Steaming expenses			3,675		3,675	9,150
	Holiday letting expenses			9,913		9,913	11,475
				119,081		119,081	20,625
6.	CHARITABLE ACTIVITIES COSTS
							Support
							costs
	General costs						58,068
	Property costs						78,508
							136,576
7.	NET INCOME/(EXPENDITURE)
	Net income/(expenditure)		is stated atter charging/(crediting):
						31.12.20	31.12.19
	Depreciation	- owned assets				78,508	47,867
	Hire ofplant	and machinery				1,745
	Independent	examiner fees				2,500	2,150

COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
		Unrestricted	Restricted	Total
		fund	fund	funds
INCOME AND ENDOWMENTS	FROM
Donations and legacies		82,048	40,052	122,100
Other trading activities		50,393	26	50,419
Investment income		257		257
Total		132,698	40,078	172,776
EXPENDITURE ON
Raising funds		20,625		20,625
Charitable activities
General costs		100,844	9,576	110,420
Property costs		6,553	43,846	50,399
Total		128,022	53,422	181,444
NET INCOME/(EXPENDITURE)		4,676	(13,344)	(8,668)
Transfers between funds		(5,322)	5,322
Net movement in funds		(646)	(8,022)	(8,668)
RECONCILIATION OF FUNDS
Total funds brought forward		377,540	1,825,607	2,203,147
TOTAL FUNDS CARRIED FORWARD		376,894	1,817,585	2,194,479

10.	TANGIBLE FIXEDASSETS
		Land,
		Buildings
		an(l	Plant and
		Improvements	machinery	Totals
	COST
	At 1st January 2020	2,346,012	304,281	2,650?93
	Additions	44,211	6,539	50,750
	At 31st December 2020	2,390,223	310,820	2,701,043
	DEPRECIATION
	At lstJanuary 2020	521,270	121,392	642,662
	Charge for year	49,719	28,789	78,508
	At 31st December 2020	570,989	150,181	721,170
	NET BOOK VALUE
	At 31st December 2020	1,819,234	160,639	1,979,873
	At 31st December 2019	1,824,742	182,889	2,007,631
11.	FIXEDASSETINVESTMENTS
		Shares in
		group	Unlisted
		undertakings	investments	Totals
		8	8
	MARKET VALUE
	At 1st January 2020		281,584	281,585
	Impairments		(220,560)	(220,560)
	At 31st December 2020		61,024	61,025
	NET BOOK VALUE
	At 31stDecember 2020	I	61,024	61,025
	At 31stDecember 2019	I	281,584	281,585

Llangollen dt Corwen Railway (Trading) Limited	Llangollen dt Corwen Railway (Trading) Limited
Registered office:	The Station, Abbey Road, Llangollen,	Denbighshire,	LL20 BSN
Nature ofbusiness:	Hire oflocomotives
Class ofshare:	holding
Ordinary		100
				31.12.20	31.12.19
Aggregate capital	and reserves			(3 136)	(2,961)
Loss for the year				(175)

					31.12.20	31.12.19
Trade debtors					2,095	18
Amounts owed by group undertakings					2,812	2,519
Due from Llangollen	Railway			pic		5,040
VAT					1,719	5,888
Prepayments and accrued		income			530	1,470
Gift aid					16,369	6,051
					23,525	20,986
CREDITORS: AMOUNTS			FALLING DUE WITHIN ONE YEAR
					31.12.20	31.12.19
Bank loans and overdratls		(see		note 14)		48,322
Trade creditors					11,975	14,484
Directors loans 2019					10,000	14,000
VAT						3
Other creditors					700	247
Due to Llangollen Railway		pic				92,827
Accruals and deferred	income				7,088	10,189
					29,763	180,072

	An analysis o	ft	he maturity	of	loa	ns is given below	:
									31.12.20	31.12.19
	Amounts falling		due within	one year on demand:
	Bank overdraits									48,322
15.	MOVEMENT		IN FUNDS
								Net	Transfers
								movement	between	At
							At 1.1.20	in funds	funds	31.12.20
							g
	Unrestricted	funds
	General fund						376,894	(12,829)	(18,588)	345,477
	Restricted funds
	Restricted						1,817,585	5,577	18,588	1,841,750
	TOTAL FUNDS						2,194,479	(7,252)		2,187,227
	Net movement	in funds, included				in the above are	as follows:
							Incoming	Resources	Gains and	Movement
							resources	expended	losses	in funds
	Unrestricted	funds
	General fund						371,547	(208,816)	(175,560)	(12,829)
	Restricted funds
	Restricted						97,4]8	(46,841)	(45,000)	5,577
	TOTAL FUNDS						468,965	(255,657)	(220,560)	(7,252)
	Comparatives	for movement			in	funds
								Net	Transfers
								movement	between	At
							At 1.1.19	in funds	funds	31.12.19
	Unrestricted	funds
	General fund						377,540	4,676	(5,322 )	376,894
	Restricted funds
	Restricted						1,825,607	(13,344)	5,322	1,817,585
	TOTAL FUNDS						2,203,147	(8,668)		2,194,479

						Incoming	Resources	Movement
						resources	expended	in funds
Unrestricted		funds
General	fund					132,698	(128,022)	4,676
Restricted funds
Restricted						40,078	(53,422)	(13,344)
TOTAL	FUNDS					172,776	(181,444)	(8,668)
A current	year	12 months	and prior year 12months	combined	position	is as follows:
						Net	Transfers
						movement	between	At
				At 1.1.19		in funds	funds	31.12.20
								8
Unrestricted		funds
General	fund			377,540		(8,153)	(23,910)	345,477
Restricted funds
Restricted				1,825,607		(7,767)	23,910	1,841,750
TOTAL	FUNDS			2,203,147		(15,920)		2,187,227

				Incoming	Resources		Gains and	Movement
				resources	expended		losses	in funds
								f
Unrestricted	funds
General fund				504,245	(336,838)		(175,560)	(8,153)
Restricted funds
Restricted				137,496	(100,263)		(45,000 )	(7,767)
TOTAL FUNDS				641,741	(437,101)		(220,560)	(15,920)
Restricted Funds:			Balance b/fwd	Income	Transfers	Expenditure		Balance c/fwd
Pannier Fund	7754		18,523	5,026			(1,838)	21,711
Engine Shed			25,000					25,000
Wagon Fund			770				(110)	660
Corwen Extension			1,530,033		552		(41,355)	1,489,230
Flail Appeal			6,239					6,239
investment			106,024				(45,000)	61,024
CCRD				86,514				86,514
Grant - platform		project	130996	5 877	18036		33538)	151372
			I 817585	97418	18588		{91841)	I 841 750

	2020	2019
Sales	2,419	1,800
Purchases	(14,176)	(65,720)

					Debtors	Debtors	Creditors	Creditors
					2020	2019	2020	2019
						6
I langollen	Railway	pic				5,040		92,827
Llangollen	and Corwen		Railway	(Trading)
Limited					2,813	2,794

			FOR THE YEAR ENDED 3 IS	TDECEMBER 2020
				31.12.20	31.12.19
INCOME AND	ENDOWMENTS
Donations and	legacies
Donations				213,033	41,461
Giff aid				47,724	6,051
Legacies				21,274	38,205
Grant income				53,532	36,383
				335,563	122,100
Other trading activities
Fundraising events				86,514
Subscriptions				32,119	27,262
Magazines, raffles and locomotive			hire	3,018	1,800
Holiday letting income				8,351	21,202
Other sales				3,375	155
				133,377	50,419
Investment income
Bank interest				25	56
Interest received	on	gift aid payments			201
				25	257
Total incoming	resources			468,965	172,776
EXPENDITURE
Other trading activities
Hire ofplant and	machinery			1,745
Bad debts				103,748
Steaming expenses				3,675	9,150
Holiday letting expenses				9,913	11,475
				119,081	20,625
Support costs
Management
Printing, stationery		and advertising		7,295	8,285
Legal and professional				13,153	3,955
Sundries				4,533	12,136
Accountancy				2,623	2,168
Bookkeeping				1,200	1,200
Travel and motor expenses				144	1,307
Training and recruitment				690	1,178
				29,638	30,229
Finance
Bank charges				901	678
Carried forward				901	678

			DETAILED STATEMENT OF FINANCIAL	DETAILED STATEMENT OF FINANCIAL
				FOR THE YEAR ENDED 3 1STDECEMBER 2020
					31.12.20	31.12.19
Finance
Brought forward					901	678
Credit card charges						45
					901	723
Other
Rent and rates					4,932	13,195
Light and heat						2,532
Repairs and maintenance					22,597	66,273
Land, building	and	improvement		depreciation	78,508	47,867
					106,037	129,867
Total resources	expended				255,657	181,444
Net income/(expenditure)			before gains and
losses					213,308	(8,668)
Realised recognised		gains	and losses
Realised gains/losses		on unlisted		investments	(220,560)
Net expenditure					(7,252)	(8,668)