2022-12-31-accounts - Llangollen Railway Trust Limited

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			Page
Report ofthe Trustees		I	to	6
Statement ofTrustees'	Responsibilities
Report ofthe Independent Auditors		g	to	11
Statement ofFinancial	Activities		12
Balance Sheet			13
Cash Flow Statement			14
Notes to the Cash Flow Statement			15
Notes to the Financial	Statements	16	to	25

Total Restricted funds	Total Restricted funds	Total Restricted funds		1,881,421
Less:
Restricted Rcstrictcd Restricted	Tangible Intangible debtor	assets assets		(1,707,133) (21,458) ~72 tk 31
Restricted	funds held		for future
periods (Bank):				80777
Unrestricted	funds.			652,652
Designated	funds:			330,000

		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 2022
						31.12.22	31.12.21
				Unrestricted	Restricted	Total	Total
				fund~	fund	funds	funds
			Notes		f.
INCOME AND ENDOWMENTS		FROM
Donations and legacies			2	196,936	109,212	306,148	688,001
Other trading activities				919,928		919,928	427,888
Investment income				553		553	26
Total				6117417	109212	1226629	1115915
EXPENDITURE	ON
Raising funds			5	436,814	199,138	635,952	107,813
Charitable activities
General costs				459,110	6,385	465,495	285,423
Property costs						7	7*
Total				936376	265 818	I 2111 994	483 512
Net gains on investments				19808		19808
NET INCOME/(EXPENDITURE) Transfers between funds			19	201 049 7278	(156,606) ~57278	44,443	632,403
Net movement in	funds			258,327	(213,884)	44,443	632,403
RFCONCII, IATION OF FI11SDS
Total funds brought	forward			724,325	2,095,305	2,819,630	2,187,227
TOTAL FUNDS CARRIED FORWARD				982 652	I 811 421	2864073	2 819630

	31STDE	CEMBER 2022
				31.12.22	31.12.21
		Unrestricted	Restricted	Total	Total
		funds	fund	funds	funds
	Notes		8
FIXEDASSETS
Intangible assets	12	7,200	21,458	28,658	23,958
Tangible assets	13	417,636	1,707,133	2,124,769	2,083,574
Investments	14	I			61 025
		424,837	1,728,591	2,153,428	2,168,557
CURRENT ASSETS
Stocks	15	37,055		37,055	36,125
Debtors	16	141,769	72,053	213,822	53,646
Cash at bank and in hand		556 019	10.777	636 796	628 384
		734.843	152,830	887,673	718,155
CREDITORS
Amounts falling due within one year	17	(177,028)		II77,028)	(67,082)
NET CURRENT ASSETS		557,815	132,830	7ltl 645	t5ltl73
TOTAL ASSETSLESSCURRENT
LIABILITIES		982,652	1,881,421	2,864,073	2,819,630
NET ASSETS		982652	1881421	2864073	2 819630
FUNDS	19
Itnrestricted funds				982,652	724,325
Restricted funds:
Restricted				1 881 421	2 095 05
TOTAL FUNDS				2 864 tl73	2 819630

						CASH FLOW STATEMENT
					FOR	THE YEAR ENDED 31STDECEMBER 2022
							31.12.22	31.12.21
						Notes	f.
Cash flows from operating			activities
Cash generated from	operations						77 320	669 794
Net cash provided by	operating			activities			77 320	669 794
Cash flows from investing			activities
Purchase ofintangible	tixed		assets				(8,000)	(25,000)
Purchase oftangible	fixed	assets					( 141,742)	(193,977)
Sale oftangible fixed	assets							25,000
Sale offixed asset investments							61,024
Sale ofmvestment property							19808
Net cash used in investing		activities					68910	193977
Change in cash and	cash	equivalents			in the
reporting period							8,410	475,817
Cash and cash equivalents			at the beginning			of
the reporting period							~628 384	~152567
Cash and cash equivalents			at the end		ofthe
reporting period							~636794	~628 384

RECONCILIATIO	N OF NE	T INCOME TO N	ET CASH FLOW FRO	M OPERATIN	G ACTIVITIES
					31.12.22	31.12.21
Nct income for thc	reporting	period (as pcr thc	Statement ofFinancial
Activities)					44,443	632,403
Adjustments for:
Depreciation charges					103,847	91,318
Losses on invcstmcnts					(19,808)
Profit on disposal offixed assets						(25,000)
Increase in stocks					(930)	(36,125)
Increase in debtors					(160,176)	(30,121)
Increase in creditors					1179944	37,319
Net cash provided	by operations				773211	669794
ANALYSIS OF CASH AND		CASH EQUIVALENTS
					31.12.22	31.12.21
Cash in hand Notice deposits (less than 3 months) Overdrafts included in bank loans and overdrafts Total cash and cash equivalents			falling due within one year		2,322 634,474 ~2) 636794	1,52 I 626,863 628 384
ANALVSIS OF CHANGES		IN NET FUNDS
				At I 1.22	Cash tlow	At 31.12.22
Net cash
Cash at bank and in Bank overdraII	hand			628,384 ~628 384	8,412 ~2) ~8410	636,796 ~2) ~636 794
Total				628 384	8410	636794

							31.12.22	31.12.21
					Unrestricted	Restricted	Total	Total
					funds	funds	funds	funds
					f	f	f.	I
Donations					6,747	52,634	59,381	214,902
Gift aid					29,841		29,841	45,981
Legacies Grant income					160,348	~56578	160,348 ~56 578	74,225 ~352 893
					196936	109.212	306 148	688 001
Grants received,			included	in the above, are as follows:
							31.12.22	31.12.21
Denbighshire		CC Covid-19						40,000
WCRF Phase		2						137,583
Corwen platform			grant				1,386	22,950
WCRF Phase		I						147,860
Gcorgc Cadbury			Fund					4,500
Corwen canopy							55 192
							56578	352 893
OTHER TRADING ACTIVITIES
							31.1222	31.12.21
					Unrestncted	Restricted	Total	Total
					funds	funds	funds	funds
						f	f
Cafe income					68,477		68,477
Ticket sales					748,650		748,650	373,673
Subsciiptions					32,674		32,674	32,578
Magazines,	raffles and locomotive hire				29,630		29,630	10,711
Holiday letting income					22,040		22,040	2,441
Other sales					18457		18,457	8 485
					~919928		919928	~427 888

						31.12.22	31.12.21
				Unrestncted	Restricted	Total	Total
				funds	fu~ds	funds	funds
					f.
Bank mterest				553		553	26
RAISING FUNDS
Other trading		activities
						31.12.22	31.12.21
				Unrestricted	Restricted	Total	Total
				fundsf	funds	funds	funds
Purchases				140,722	153,490	294,212	26,842
Statf costs				251,579	45,648	297,227	42,665
Hire of	plant and machinery			22,296		22,296	25,532
Steaming expenses Holiday letting cxpcnscs				15,379 ~6838		15,379 ~6838	10,710 ~2064
				436 814	199138	635 952	107813
CHARITABLE ACTIVITIES COSTS
						Support
					Direct	costs (see
					Costs	note 7)	Totals
						f,
General	costs				1,359	464,136	465,495
Property	costs				~1359	100547 ~564 683	100547 ~566 042
SUPPORT COSTS
				Management f	Fuiance f	Other	Totals
General	costs			293,024	3,888	167,224	464,136
Property	costs					100,547	100547
				~293 024		267 771	~564 683
NET INCOME/(EXPENDITURE)
Net income/(expenditure)			is stated after chargmg/(crediting):
						31.12.22	31.12.21
Depreciation —owned assets						100,547	90,276
Hue of	plant and machinery					22,296	25,532
Surplus	on disposal oftlxed assets						(25,000)
Goodwill amorusation						3,300	1,042
Auditors	rcmuncration					6300	6 000

STAFF COSTS
					31.12.22	31.12.21
Wages and salaries					275,403	41,779
Social secunty costs Other pension costs					17,885 ~3939 ~297 "27	128 758 ~42 665
Key management wages and salaries		in the year amount to f.128,074.
The average monthly	number ofemployees		during	the year was as follov:s:
					31.1222	31.12.21
Adnnnistration					18	5
No employees received emoluments		in excess off60,000.
COMPARATIVES	FOR THE STATEMENT OF FINANCIAL ACTIVITIES
				Unrestricted	Restricted	Total
				funds	fund	funds
				f.		g
INCOME AND ENDOWMENTS		FROM
Donations and legacies				205,296	482,705	688,001
Other trading activities				427,888		427,888
Investment mcome				26		26
Total				633210	46 7115	1115915
EXPENDITURE ON
Raising funds				51,698	56,115	107,813
Charitable activities
General costs				164,723	120,700	285,423
Property costs				.5 644	54 632	9t1276
Total				065	3 7	63 5
NET INCOME Transfers between	funds			381,145 ~12297	251,258 '297	632,403
Net movement in funds				378,848	253,555	632,403

				Unrestricted	Unrestricted	Restricted	Total
				funds		fund	funds
RECONCILIATION	OF FUNDS
Total t'unds brought forward				345,477		1,841,760	2,187,227
'I'OTAL I'U~DSI'ARRIED FORWARD				7	35	535	*3
INTANGIBLE FIXED ASSETS
							Goodwill
COST
At lstJanuary 2022 Additions							26,000 ~8000
At 31st December 2022							33,000
AMORTISATION
At IstJanuary 2022							1,042
Charge for year							3 300
At 31stDecember 2022							4342
NET BOOK VALUE
At 316tDecember 2022							28 658
At 31st December 2021							23 968
TANGIBLE FIXED	ASSETS
		Land,
		Buildings
		and		Plant	and	Motor
		Improvcmcnts		machinery		vchiclcs	Totals
COST
At 1stJanuary 2022		2,442,	183	460,837		2,000	2,896,020
Additions				139,942		1800	141742
At 31st December 2022		244	IN3	590779		3 800	30 6762
DEPRECIATION
At 1stJanuary 2022		622,964		188,492			811,446
Charge for year		51.965		48217		365	100547
At 31st December 2022		674919		236,709		'165	911993
NET BOOK VALUE
At 31st December 2022		17*	264	354070		. 4. 5	21247 9
At 31st December 2021		I 879	229	262	345	2000	2 083 574

FIXEDASSETINVESTMENTS
	Shares in
	group	Unbated
	undertakings	invcstmcnts	Total
MARKET VALUE
At 1stJanuary 2022		61,024	61,025
Dtsposals		~61024)	~61 024)
At 31stDcccmbcr 2022
NET BOOK VALUE
At 31stDecember 2022
At 31stDecember 2021		61 024	61 025

Nature ofb	usmess: Hire oflocomotives
		U/
Class ofshare:		hot	dmg
Ordinary			100
				31.12.22	31.12.21
Aggrcgatc capital and rcscrvcs Loss for the year				(3,820) ~325	(3,495) ~359
STOCKS
				31.12.22	31.12.21
Stocks				~37055	~36 125
DEBTORS:AMOUNTS FALLING DUE WITHIN ONE			YEAR
				31.12.22	31.12.21
Trade debtors				9,474	14,864
Amounts owed by group undertakings				3,182	3,110
VAT				7,639	9,707
Prepayments	and accrued tncome			187,864	17,857
GIBaid				5 663	8 108
				213822

CREDITORS:	AMOUNTS FA	LLING DUE WIT	HIN O	NE YEAR
						31.12.22	31.12.21
Bank loans and	ovcrdrafts (sccnote 18)					2
Trade creditors						124,587	49,812
Social security	and other taxes					16,597
Other creditors							100
Accruals and deferred mcome						~35842	17,170
						177U28	67.U82
LOANS
An analysis ofthe maturity ofloans is given below:
						31.12.22	31.12.21
Amounts falling	due ivithin one	year on demand:
Bank overdraAs
MOVEMENT	IN FUNDS
					Nct	Transfers
					movement	between	At
			At 1.1.22		in funds	funds	31.12.22
					f.
Unrestricted funds
General fund				694,325	201,049	(242,722)	652,652
Designated fund				30 tltltl		3tlotltltl	33tl00tl
				724,325	201,049	57,278	982,652
Restricted funds
Restncted			2,095,305		(156,606)	(57,278)	1,881,421
TOTAL FUNDS			2	819630	44443		2 864073
Net movement	in funds, mcluded	in the above are as	follows:
			Incoming		Resources	Gains and	Movement
			resources		expended	losses	in funds
Unrestricted funds
General fund			1,11'1,417		(936,176)	19,808	201,049
Restricted funds
Restricted				109,212	(265,818)		(156,606)
TOTAL FUNDS			1226 629		~3203 994	19 8tl8	44,443

											Net	Transfers
											movement	between	At
							At		1.1.21		in funds	funds	31.12.21
											f
Unrestricted		funds
General fund								345,477			381,145	(32,297)	694,325
Designated		fund										30,tl00	3000tl
								345,477			381,145	(2,297)	724,325
Restricted	funds
Rcstrictcd						1,841,750					251,258	2,297	2,095,305
TOTAL FUNDS						2		1N	227		632 403		2 N19 630
Comparative		nct movcmcnt		in funds, included	in thc above		arc		as follows:
											incoming	Resources	Movement
											resources	expended	in funds
Unrestricted		funds
General fund											633,210	(252,065)	381,145
Restricted	funds
Restncted											482,705	(231,447)	251,258
TOTAL FUNDS											1 116913	~483 \123	632013
A current year 12 months			and poor year 12 months			combmed		position		is as	follows:
											Net	Transfers
											movement	between	At
							At		1.1.21		in funds	funds	31.12.22
Unrestricted		funds
General fund								345,477			582,194	(275,019)	652,652
Designated		fund										330tltl0	33000tl
								345,477			582.194	54,981	982,652
Restricted	funds
Restricted						1,841,750					94,652	(54,981)	1,881,421
TOTAL FUNDS						218			227		676846		2 814tl73

			Incoming	Resources	Gams and	Movement
			resources	expended	losses	in funds
Unrestricted funds
Gcncial fund			1,750,627	(1,188,241)	19,808	582,194
Restricted funds
Restricted			591,917	(497,265)		94.652
TOTAL FUNDS			2 34 544	~36655tl6	19 4tl4	676,846
Restricted Funds:		Balance b/fwd	Income	Transfers	Expenditure	Balance c/fwd
Pannier Fund 7754		7,957			(7,957)
Engine Shed		25,000				25,000
Wagon Fund		550			(110)	440
Corwen Extension		1,447,865			(41,370)	1,406,495
Flail Appeal		6,239			(624)	5,615
Investment ('t.'RD —revenue		61,024 61,602	52,634	(61,024	(57,459)	56,777
CCRD —capital		32,061			(940)	31,121
Full steam ahead	fund	143,388			(154196)	128,192
WCRF Phase 2		137,583			(137,583)
Corwen canopy DCC			55,192	9,209		64,401
Grant —platform	project	172,037	1,386	(5,463	(4,580)	163,380
		2,095,305	109,212	57,278	~2654794)	1,881,421
CAPITAL COMMITMENTS
					31.12.22	31.12.21
Contracted but not provided		for in the financial statements			96601