REGISTERED COMPANY NUMBER.. 03105760 {England and Wal•s) REGISTERED CHARITY NUMBER= 1049895 South Yorkshire Tran5 ort IAuseurn Ltd Finan 31 t)ecember 2021 'AB662DVD' 141W2022 COMPANIES HOUSE 1272
South Yorkshire Trans rt Museum Ltd Contents of the Financial Statements For The Year Ended 31 December 2021 Page R•port ofth• TNst••s 1 to 2 Independent Examinerfs Report ststemgnt of Finwci•l ActitieS 8alan¢• Sh••t Not•s to th• Financial Statements 6 to 12
South Yorkshire Trans ort Museum Lld istered number. 03105760 Re ort of the Trustees For The Year Ended 31 December 2021 The lrnstees who are a0 directors of the charity lor the PWFxJses of ihe Cc#npanies Act ZIX16, wosent their r&ky)rt with the financial stalemenls of the chanly ft)r the year eThJed 31 December 2021. The Imsteès have adopted the provisi$ of Accountin9 and Reporting by Chaflties". Statement of RecommeThded Praclice applicable lo charits'es preparing their accounts in accordance with the Financial Rep(yting Slandar(l applicable in the UK and Republic of Ireland IFRS 1021 leNeclNe 1 janu 20191. OBJECTIVES AND ACTNITIES Objectives and aims The charitable objectives per Ihe governing drurnents are to advance Publ edUCatK by establishing a perrnanenl ¢Jisplay of historic commercial and public carriage vehKles at a museum in Soulh Yorkshire and lor like purpose lo promote a permanent preservatKJn of all histonc crynmercial and pvbltc carriage vehdes. The museum also aims to exhibit any such vehicles a1 rtems, as al0s?l. lo the pu1¢. The trustee5 have ref8ued lo the guidance in Ihe Charity commission general guidance on public benefrt wh8n reviewing aims aThJ objectives and in planning future acti¥es. Publ1¢ b•n•frt The aclivities undertaken kn ihe public benefit include the permanent display ol historic vehicles and general items of tr8nspryt interest The museum is open to all members ol the public. S1$ visrts are 8rr8nged to show the pvpils the historic commefcial and public carriage ¥ehleS anrj ¥isrts by care in the cwmunity anisatIonS are a¢tiv¢ly encouraged. ACHIEVEMENT AND PERFORMANCE Charitable actlVblie5 Unlortunalely. there was an inlerrupts.on to normal activths in thè spnng of 2020 due to Covid 19 and the Museum remained closwj lo the wts1 until Seplember 2021_ FINANCIAL REVIEW Financial position During the year, the museum had an increase in lunds of £186 {2020. decrease of £20,139) due to receiwng £5.1)00 for switching banks and receiviry a COVKJ $tart grant of £18.IYX) from RMBC. R•$ervg$ policy The South Yorkshire Transport Museum reser¥es FK)Iicy is to ensu that the bank balance does fall below the amount roquired to ¢omply wrth the tem)s ol tyjr PSV operators License. This being £25,800. At Ihe year end the Museum held unrestricled fuTrJs and lotal reserves of £299,97912020.. t299.7931. Its free reserves were £253,12812020.. £252.9881. Reserves are signfficantty hwjher than Ihe reserve5 target due to larye *acie5 in recent years. Going eoneèm In the opinK)n of the Trusiees Ihere are no issues regardirvj g(yrwJ concem fof Ihe medium temi. STRUCTURE. GOVERNANCE AND MANAGEMENT Goveming document The company is wistered as a crynpany limite(I by guarantee. wilhout 8 share caprtal. Its govemiry instrufflent Is its meXandUrn and ArtleS ofAs$0ciatn. Recruitment and appointm•nt of n•w trust•è$ Trustees are appointed fcK a perKxl of 2 years. Member5 of the tharity are aske(1 for )minat)nS kn InJstees who are standing down or sl11j for re-electK)n. Membets can submit a postsi voi¢ or atteThJ the AGM lo vole for those standing. Or9anisational structure There are currently 6 elected trustees who take S)nSibl1 kn the day to day ¢)pefation ofthe Charity. REFERENCE AND AOMINISTRATIVE DETAILS Regi$t•f•d Company number 03105760 IEn9land and Wales) Regi5lered Charity nurnb•r 1049895 Page 1
South Yorkshire Trans rt Museum Ltd istered mber- 03105760 Re ort of the T *ees For The Year Ended 31 December 2021 Regi$ter•d offietr Unil 9 Waddington Way Rolherham S65 3SH Tru$tees I P Saijnders TaSUr D J Oe8n Ghair CPthton D C Tummon (appointed 20.2.20211 (resigned 1.6.2021) K K Birkett (resigned 6.7.20211 D J Casey D Jordan IresvJned 17.3.20221 M Benson (appointed 26.7.20211 P M Smith lappointed 26.7.20211 Company Secretary IA Benson Independ•nt Examin•r Kingswood Allotts Limited Chartered Accotsntants The Old Grammar Schc¥ 13 Moorgate IRoad Rotherham South Yorkshirè S602EN This report has been pare¢Y in acccffdance wth the speoal FVOViSNXts of Part 15 of the Companies Act 2006 relatg to srnall companies. Apwovesj by order of the board of trustees on .......................... .....2? 2>and sKJned on its behalf by.. M Benw - Tfustee Page 2
Inde endent Examinerfs Re South Yorkshire Trans ort to the Truste ort Museum Ltd Ind•pendent examinerfs report to the trustees of South Yorkshir• Tran$port Museum Ltd Ilhe Company) report to the charity tru51ees on my examination ol the accounts ol the Company for the year ended 31 De¢ernber 2021. Ro$pon$ibiliti•$ and basis ol report As the charity's trustees of Ihe Company la1 also rfs direclcws for ihe purrN)ses of company Saw) you are responsible for the preparation of the aUnts in acc(Ydance ilh the requirements of the Companies Act 21Y)6 llhe 2CQ6 Act'l. Having salisfied mysew that Ihe acc(nts ol thè Company are rtlt rèquired to be audited under Part 16 of the 28 Act and are eli9ible for indepetwjent examinatn. l p(¥1 in respect of my examinatN)n of yLwr charitys accA)unts as carried out under section 145 of the Charit5 Act 2011 I'the 2011 Artl. In carrwng out my exafflinatk I have followed the Direcl¥)ns given by the Charity Commissw urKler seciw 145(5} (bl of the 2011 Act. Independent examinèrfs Statèment I have completed my exam¢natK)n. l tsjnkn thal matters have ¢)Th lo my attention in cffinection Wbth the examinabon giwng me cause to bel¥e: accounting records kepi in respect of the Company as QuIred by secIn 386 of the 2006 Acl.. or Ihe accounts do not accord wrth te fecorfs." or Ihe accounls do nol compty with the accountir4J requireffents ol section 396 of the 2006 Acl other than any requirement that the acctsjnts gwe a true fair vtew which 1$ Th)t o matter consKlered 8$ part of an independent examinatKJn". Ihe acGoun15 have [1 been wepar8(l in acccKdance Tth the melhods and principles ol the Stsiement of Recommended Prathce accounting and reporting by ctharities (applicable to charities preparing their accounts in accordance the Financial Repyting StaThJard awicable in the UK and Republic of IrelarM1 IFRS 10211. I have no concerns and have come across no other matters in connectson with the examination to which attentKJn shoul¢J be drawn in thi$ report In order to enable a proper understrThJing of Ihe aw)unts io be reached. Mark Garrison Bcom FCA OChA Kingswood Aiioits Limiled Chartered Accountants The Okl Grarnrnar School 13 Moorgale Road Rotherham Soulh Yorkshire S60 2EN Date". Page 3
South Yorkshlre Trans rt Museum Ltd Statem nt of Financial Adivities oratin an Income and Ex endItU Account For The Year Ended 31 December 2021 Inco 2021 Total funds 2020 Total funds Unrestricted Reslricled fund funds INCOME AND ENDOWMENTS FROM Donations and legacies 7.193 7.193 Charitable activities Museurn of transport 83.239 1.420 84,659 64,571 Investment income 228 Total J.480 1.420 91,9 65,645 EXPENDITURE ON Charitable adiwities Museum of transport 1.420 91.714 85.784 NET INCOMEIIEXPENtMTUREI 120,1391 RECONCILIATION OF FUNDS Totsl funds brought lornard 299.793 299,793 319,932 TOTAL FUNDS CARRIED FORWARD 299.979 299.979 299,793 The notes form part of these financial statements Page 4
South Yorkshire Trans ort Museurn Ltd Re istered number: 03105760 Balance Sheet 31 Decernber 2021 2021 2020 FIXED ASSETS Tangible a55ets Heritage assets 13 14 4.996 41.855 4,950 41.855 46,851 46,805 CURRENT ASSETS SIIKks Oebtors Cash at bank aThJ in harK1 15 16 100 18,967 235,877 100 9,330 248,274 254,944 257,704 CREDITORS ANK)unts fallir¥J due within one year 17 11,8161 14,7161 NET CURRENT ASSETS 253.128 252,988 TOTAL ASSETS LESS CURRENT LIABILITIES 299.979 299,793 NET ASSETS 299,979 299.793 FUNDS Unrestricted funds.. General furKI 299.979 299,793 TOTAL FUNDS 299.979 299,793 The Charitab company is entitled to exemplion aud 11Th1pJ SFdCt•Jn 477 of thc Companies AL'I 2006 for ihe year iid¥J 31 Dècèmber 2U21. The rnembers have not quired the company to oblain an atyyit of its financial statements for the year ended 31 December 2021 in accordance vrith Section 476 ofihe Conyanies Act 2CQ6. The trustees 8thnowledge thr res[*slImI1tS for la) ensurirKJ that Ime chanlable company keeF6 accounting rec$ that compty wth Sections 386 and 387 of the Companies Act 20C&S and preparing Iinancial statements which give a true and fair View of the state of affair5 of the chantable company as at the end of each finanoal year an¢J of its surplus or t1efictt lor each finanual year in accordance wth the requirements of sectn$ 394 and 395 an(1 whh othemse corn vAth the requirements of the Companies Act 2006 relaiiThJ to linanual statements, so far as applble to the tharitabk company. Ib} These financi81 slatements have been prepare(l in acc¢ydance the kxo¥tsKJn5 applicable lo charitable coffrf)anies subject to the small companies r8gime. The financial 5falements tAere approved by the Bowd of Trustees and aulhori5ed for issue A....•.....V.•1.%.. and re sne on its beha by: M Benson - Truslee The notes form part of Ihese financial stslements Page S
South Yorkshlre Trans rt Museum Ltd Notes to the Financial Staternents For The Year Ended 31 December 2021 STATUTORY INFORMATION South Yorkshire TransF¢Jrt IAu5¢um Ltd is a prNal? ¢haritsble company. limited by guarantee. registered in England and Wales. The companls registered number and registered office address can be found in the Rep)rt of the Trustees. The charty 15 a public b8nefrt enlty. ACCOUNTING POLICIES Basis of prèparing th• finan¢ral stattmtnts The finanoal statements of the charitable company, vlhich is a wb¢ benefit enlrty uThJer FRS 102. have been prepared in accordance wth the Charities SORP IFRS 1021 'A¢o)unting and Reporting by Charities.. Siatemenl of Recommended Practice applicable io tharities w8paring Iheir acc(yJnis in accorilance wilh the Financial Reporting Standard applicable in the UK and Republic ol Iielarvj IFRS 1021 {effective 1 January 20191,, Financial Reportin9 Standar(1 102 The Financial ReportiThJ Stsndard applvble in the UK and Republic or Ireland. and the Companies Act 2C¢6. The finala1 staiernerts have been wepared under the histCal cost convention. Income All income is re¢>)gnised in Ihe Staternent of Financial ActNities once the charity has entitlement to the funds. it 15 probable that the income will be rec¢i¥¢d arJ the arr1 bg meared reliabty. Gr8nts are recA)gnised using the perfmance model. Receipt ol a acy is recognised when ew¢Jence of entement has been establishe¢J and it is probable that it will be re¢eNed Receipt is rrnalty probable when the has been a granl ol probate. The executors have esiablished Ihat there afe sufficieni assets in ihe estate, after settling any liabilities io pay the legacy, and any condth'ons attathe(l io the legacy are either 1h1n the ¢cnlrol ol the charity ol have been met. Income is not C03D1sed for volunteer b"me. However ihe museum has staff so is lotally dependent on the services of ¥olunieets ts all fvrthins. Expenditur• Liabilities are reco9nise(J as eXperlture as soon a5 there a le981 or constructive oblallOn (x)rnmittin9 Ihe chority lo that expeThJitufe. il is probable that a transfer of economic benefits wll be qUired in settlement and the amount of the OblatIon can be measured reliably. Expenditure is aciounled for on an accruals basis and has been classified under headings that aggregatè all cos( related to category. Where costs cannot be di¢1 atlributed to particuLar headings they have been albcated to aciivitses on a basis consistent with the use of resoLtrces. Tan9iblo fix•d as$•ts DeprecialL)n is provKJed al Ihe ILlk)w"ng anThJal rale5 in ord8r lo ¥rrite off each a558t over ils 85timat8d useful Plant and machinery Cornputer equipment 10% on re¢Jucing balance 33% on re(luong balance Heritage ass¢ls The heritage assets held by the charilable company a classic ¥ehe$ used fof privaie hire and as a tourist attrathon in a musèum. The charitable company acqui$ heritage assets based on rean1 subjects or theme. penods ol time an(J geographic areas whKh a deced by the board. For eXafftrp. the board's expressed policy since 2007 has been to trease the of rKm-bu5 vehides. Thè ¢harilable company does nol own any heritage assets which a Th)t appropriate Thp asset be disw&et1 of should rt become in3prKormale. Th first drK)SaI Op1)n lo be consmlered wDuld be to offer it to another museum. If this cwr5e is t1 successful. sale or wvate gift wxmjld be considered. Destruction of the asset would be considered the final opt[C. Heritage assets are managed and weserved in ac¢tyd¥nce Writh Ihe thantsble companls Colloctions Carq and Lonservation Plan. The charitable amnpaS Cdlections Development Pdicy detsils the number and type of Class vehicle hekl. Page 6 continued...
SoLrth Yorkshire Trans ort Museum Ltd Notes to the Financial Statemonts - continued For The Year Ended 310ecember 2021 ACCOUNTING POLICIES- Continued Heritage asset5 Heritage assets are held al Cost and are regUlY mataine(l. so are ¢x)nshJered to have iThJ¢finit¢ us¢ful lives nd are thelOre not deweciated. Stock Slocks are valued at the of ct aThJ nel realisable value. after makirvJ due alky•rnn¢e for obsolete arxl $low moving items. Taxatron The charity exernpl fr<Nn ctypor8tion tax on ils charitat)le activibe5 Fund ac¢ount1119 Unrestricted lunds can be use(1 in accordance th ts charilable ot4'eclives at the discTrlKJn of Ihe trustees. Restricted ftsThJs can only be used for particulaf 1rted purposes within Ihe objects ol the charity. Restriclions afise when specified by the dorny or when funds are raised for partirAJlar reslricted purposes. Further explanation of the natuie aThJ purF4)se of each furM1 is in the notes lo the financial stalements. Financial instruments Debtors and credilors a C(W3n1$Wj at the anKwJnt be received w pawj. exclvding any future intergst DONATIONS AND LEGACIES 2021 2020 Donations 7.193 846 INVESTMENT INCOME 2021 2020 Deposit acwunt interest 40 228 IMCOME FROM CHARITABLE ACTIVITIES 2021 2020 Actmty Museum of Iranswxl Museum ol transF¥Yt Museum of IransFKI Museum ol Iranspxl Mvseum ol transFKx1 Museum ol transr Museum of transFQrt useum of transwrt Rent received Membefship lottery Other Grants Subscripti$ School visrts Reiail E¥hibit sponsorship 22,174 2,126 28.265 18,000 298 72 4,749 8.975 28,205 1,757 14,567 3,482 1,695 363 3,304 11,198 84,659 64,571 Grants r1Ved. induded in the atw. are as lolkyws: 2021 2U20 Association of Independent Museums Rotherham Meiropolilan Borough Counc 3,482 18,C4JO 18.000 3,482 Page 7 conlinued...
South Yorkshire Trans ort Museum Ltd Notes to the Financial Statements - continued For The Year Ended 31 December 2021 CHARITABLE ACTIVITIES COSTS Direct Costs (see nole 7) Support costs (see note 8) Total$ Museum of Iranspxwt 90.139 1.575 91,714 .OIRECT COSTS OF CHARITABLE ACTMTIES 2021 2020 Property Exhibition costs Prinl and postage Sundry expenses Heritage buses Bank charges DeweaalK)n 60.329 8,063 572 10.110 9,479 631 955 52,445 5,623 449 6.554 16,812 859 757 90,139 83.499 SUPPORT COSTS Governance costs Museum of transport 1,575 Support costs. included in the above. are as folowo.. 2021 Museum of transport 2020 Total aclivilies Independont e¥amin0n lees 1,575 2,28S NET INCOMEIIEXPENDITURE) Net in¢omellexpenditure) is state(l after chargirrfJllCredngl'. 2021 2020 Depreci8tKJn - owned assets Rent 954 757 47,250 Renl expense in 2020 was £47.250 after a lemForary rent redudion of£6.750. 10. TRUSTEES. REMUNERATION AND BENEFITS The were r#) trustees. refflurwat other benefits the year eThYed 31 December 2021 nor for the year ended 31 December 2020. Page 8 continued...
South Yorkshire Trans ort Museum Ltd Notes to the Financial Ststement5 - continued For The Year Ended 31 December 2021 10. TRUSTEES. REMUNERATION AND BENEFITS- continu Truslees. expens•s No trusiees We feimbursed f(* travel and suStenCe in ihe year cff the prevws year. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES unreStrted fund Restricted funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 846 Charitable activiti•s Mvseum of transFMxi 57,343 7,228 64.571 Investment income 228 228 Total 58.417 7.228 65.645 EXPENDITURE ON Charitable acti¥ities Museum of transFvL 75,705 10,079 85.784 NET INCOMEIIEXPENDITUREI 117.2881 12.8511 120.1391 RECONCILIATION OF FUNDS Total funds brought fonvard 317.081 2,851 319,932 TOTAL FUNDS CARRIED FORWARD. 299.79J 299,793 12. STAFF COSTS The chanty has rKJ empkjyees. 13. TANGIBLE FIXED ASSETS Plant and machinery Compulef equipment Totals COST At 1 January 2021 Additions 15.039 4,418 1.(0 19,457 At 31 Decernber 2021 15.039 5.418 20,457 DEPRECIATION At 1 January 2021 Charge for year 10.632 440 3.875 514 14.507 954 At 31 Decernber 2021 11.072 4.389 15,461 NET BOOK VALUE At 31 December 2021 3.967 1.029 Al 31 Decernber 2020 4.407 543 4,950 Page 9 onlinued...
South Yorkshlre Trans ort Museum Ltd Notes to the Financial Statements - Gontinued For The Year Ended 31 O•cember 2021 14. HERITAGE ASSETS Tot81 COST At 1 January 2020 and 31 December 2020 41.855 NET BOOK VALUE At 31 Oecember 2020 41.855 At 31 Decernber 2019 41,855 Heritage assets include classic buses arvd other dassic vehicles held for prNale hire and as a tourist atlraction a museum. Further informatM is detailed in the obJectNes and activsts.es paragraph of the report of the trustees. There have been r addiiM)ns. disposals. donatiorts or impairrnents of hlage assets during the 10$15 yeats. 15. STOCKS 2021 2020 Stocks 1CM) 100 16. DEBTORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 2020 Othef debtors VAT Prepaymerts and accrued income 1,176 4,031 4,123 9,997 8.970 18,967 9.330 17. CREDITORS: AMOUNTS FALLING OUE IMTHtN ONE YEAR 2021 2020 Accruals and d8ferr8d income 1.816 4.716 Accrua15 arxl eftred income indudes defeffed wKome in respect of income received for events takin9 place in the folhNing year. 18. LEASING AGREEME14TS Minimum lease payments und8r th)rKancéllabbe operalirvj leases fall due as follovts." 2021 2020 Within one year Between one aThJ five yea 4.500 54.000 4.500 4,$00 58,500 Page 10 continued...
South Yorkshlre Trans ort Museum Ltd Notes to the Financial Staternents - continued For The Year Ended 31 December 2021 19. ANALYSIS OF NET ASSETS 8ETWEEN FUNDS 2021 Total funds 2020 Total funds Unrestricted Restn"cted fund funds Fixed assets Current assets Current liabilit$ 46.851 254.944 11,8161 46.851 254.944 11.816} 46.805 257.704 14.716} 299.979 299.979 299.793 20. MOVEMENT IP4 FUNDS Nel movement in funds At1.1.21 31.12.21 Unrestricted funds General fund 2Y9,793 299,979 TOTAL FUNDS 299.793 299,979 Net movement in funds, induded in the above are as follo*s". Incoming resour¢e5 Resources expended Movement In funds Unrestricted funds General fvnd 90.480 {90.2941 Re$tri¢ted fvnds Restoration pfoiects 1.420 11.4201 TOTAL FUNDS 91,900 191.7141 Comparatives for rno¥ement in lunds Net movement in funds Al 31.12.20 At1.1.20 unrestrict funds General fund 317,081 117.288) 299.793 Restricted funds Restoraiion wojects 2.851 12,8511 TOTAL FUNDS 319.932 120.1391 299.793 Page11 continued...
South Yorkshirn Trans rt Museum Ltd Notes to the Financial Statements - contlnugd For The Year Ended 31 December 2021 20. MOVEMENT IN FUNDS - eonl•nu•d ComparatNe net movement in luN1s. induded in the at¥)ve are a5 folk)*s". Incoming Resources resources expended Movement in funds Unrestri¢led funds Genefal fund 58.417 17S,7051 117.2881 Restricted funds RestOratn projects Association of ind8petht mwums want 3,746 3.482 {6.5971 {3.4821 12,8511 7.228 110.0791 12,8511 TOTAL FUNDS 65.645 185.7841 120.1391 21. RELATED PARTY DISCLOSURES There were no relat8d party transactions for the year ended 31 December 2021. Page12