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 Acti￿tieS 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 a￿0 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 dr￿urnents 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 a￿1 rtems, as al0￿s?￿l. lo the pu￿1¢. 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. S￿￿1$ visrts are 8rr8nged to show the pvpils the historic commefcial and public carriage ¥eh￿leS 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 me￿￿XandUrn and Art￿leS ofAs$0ciat￿n. Recruitment and appointm•nt of n•w trust•è$ 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 s￿l￿11￿j 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$tees I P Saijnders T￿aSU￿r D J Oe8n Ghair CPthton D C Tummon (appointed 20.2.20211 (resigned 1.6.2021) K K Birkett (resigned 6.7.20211 D J Casey D Jordan IresvJned 17.3.20221 M Benson (appointed 26.7.20211 P M Smith lappointed 26.7.20211 Company Secretary IA Benson Independ•nt Examin•r Kingswood Allotts Limited Chartered Accotsntants The Old Grammar Schc¥ 13 Moorgate IRoad Rotherham South Yorkshirè S602EN This report has been ￿pare¢Y in acccffdance wth the speoal FVOViSNXts of Part 15 of the Companies Act 2006 relat￿g to srnall companies. Apwovesj by order of the board of trustees on .......................... .....2? 2>and sKJned on its behalf by.. M Benw - Tfustee Page 2 Inde endent Examinerfs Re South Yorkshire Trans ort to the Truste ort Museum Ltd Ind•pendent examinerfs report to the trustees of South Yorkshir• Tran$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 la￿1 also rfs direclcws for ihe purrN)ses of company Saw) you are responsible for the preparation of the a￿Unts 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 2￿8 Act and are eli9ible for indepetwjent examinat￿n. l ￿p(¥1 in respect of my examinatN)n of yLwr charitys accA)unts as carried out under section 145 of the Charit￿5 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 secI￿n 386 of the 2006 Acl.. or Ihe accounts do not accord wrth t￿￿e 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 T￿th 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 th￿r res[*￿slImI1t￿S 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 sect￿n$ 394 and 395 an(1 wh￿h othemse corn vAth the requirements of the Companies Act 2006 relaiiThJ to linanual statements, so far as appl￿ble 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 s￿ne￿ 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 fina￿la1 staiernerts have been wepared under the hist￿Cal 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 ar*J the arr￿￿￿1 bg mea￿red reliabty. Gr8nts are recA)gnised using the perfmance model. Receipt ol a *acy is recognised when ew¢Jence of ent￿ement has been establishe¢J and it is probable that it will be re¢eNed Receipt is r￿rnalty 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 eXper￿lture as soon a5 there a le981 or constructive obl￿allOn (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 Obl￿atIon 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$•ts DeprecialL)n is provKJed al Ihe ILlk)w"ng anThJal rale5 in ord8r lo ¥rrite off each a558t over ils 85timat8d useful Plant and machinery Cornputer equipment 10% on re¢Jucing balance 33% on re(luong balance Heritage ass¢ls The heritage assets held by the charilable company a￿ classic ¥eh￿e$ used fof privaie hire and as a tourist attrathon in a musèum. The charitable company acqui￿$ heritage assets based on re￿an1 subjects or theme. penods ol time an(J geographic areas whKh a￿ dec￿ed by the board. For eXafftrp￿. the board's expressed policy since 2007 has been to tr￿ease 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 d￿rK)SaI Op1￿)n lo be consmlered wDuld be to offer it to another museum. If this cwr5e is t￿1 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 amnpa￿S 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 regUl￿Y ma￿taine(l. so are ¢x)nshJered to have iThJ¢finit¢ us¢ful lives nd are the￿lOre not deweciated. Stock Slocks are valued at the of c￿t aThJ nel realisable value. after makirvJ due alky•rnn¢e for obsolete arxl $low moving items. Taxatron The charity ￿ exernpl fr