SITTINGBOURNE AND KEMSLEY
LIGHT RAILWAY LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2020
Regislered Company No: 01036616
Registered Clwity No: 1057079

SITTINGBOURNE AND KEMSLEY LIGHT RAILWAY LIMITED
FIINAINCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
INDEX
Report of the Tn￿tte5 1 Director5
Independent Examiner's Report ￿ the Tn￿tee5
Sthtemeni of Financial Activities
Balance Sheet
7- 12
Notrs to the FIna￿ClaI Statements

s1￿[NGBOURNE AND KEMSLEY LIGHT II41LWAY LIMITED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2020
Page
The TrusteelDirert¢)TS submit their report together with the ￿t￿LdIted financial ststements for th¢ y¢ar ¢nd¢d 31° DeCe￿ber 2020
Ob ectives and Activities
The ChaTity is pritnarily engaged in the advancement of the edu¢ati(yn of the public by the estsblithment and preservation of a workillg
najyow-gauge heritage rdilway.
Achievements alld PerformaDce
In October 2019 we had successfully celebrdted our 50 Anniversary of the handing over ceremony for the Light Railway by Bowaters
United Kin¥dotn Paper Company which crea￿1 the Sittingtrf)urne and Kemsley Light Railway. Sadly, our celebrntions of the 50
anniversary Lif our firsi passenger trains in the Spring of 1970 had to be cancelled in 2020 but we hope to mark the occasion as soon as
pra¢tical tn the future.
The CoronaviTU5 pandernic resulted in us beillg ullable to start our plantted services at Easter 2020 and we were required to close the
railway completely from March until Jtjne 2020 resulting in tDezllber5 beillg UDable lo complete the 2019120 winter prowamme of
maintenance and repairs. After a loi of backgrimrnd WO￿ a safe working environment was estsblished and working volunteers were
able io return to the railway in June 2020. Wilh funher work we were able to commence a reduce4J passenger service with appropriate
distallcI￿g and extrd hygiene and cleaning arrangements from the tr￿glE￿ing of Augus12020.
The safe operation of passenger trnins Continu￿ until 1° Nov¢mkr 2020 and g¢nerat￿ ii¢k¢t r¢venues of £8,000 which was about
25010 of a nomial full year. With the c105ure of our souvenir shop and a redueed menu in our F￿tPlate Café those only managed to
deliver about 170/0 of our expected incorne. Unfortunately. we were not perniittedto open forourpopular Christmas trnins in Deeember
2020 which left us with a %ignificant revenue gap at the eDd of the year.
Up to the end of2020 we received grdnts forsupportofsmall businesses from thegovernmeni (administered by Swale Borough Council)
totalling £11,334 which, combined with current cxpenditure reductions whilst the county was locked down, has provided support to
partially cover the shortfall in revenues frorn nottna] activÈties. Tolal appeal donations have delivered about £31.000 io fund ongoing
work on the railway and we are extremely grate￿1 to our Enember5 and oth¢rs for th¢ir support during these difficult times.
In October 2020 we were awarded a signifiGqnt govtrnm¢nt Department for Digital. Culture. Media & Spon (DCMS) Recovery Fund
for Heritage Grnnt of £26,500 which, coupled with many hours of volunreer lime over the winier. enabled us to delkver long awaited
enhancements to provide toilet and staff facilitÈe¥ step-frtt acc£s4 improved securÉty and Morage facilities at Sillingbourne Viaduct.
By the end of December 2020 our specialist contractOTS had been able to alTTt05t complete the 5chedulLxI maintenance prngramme on
Milton Regis viaduct with additional restoration work on the two Prenlls Quay Bridges although weather conditions required sorne
finishsng work5 in early 2021. With f]nancial 511PPOrt frorn our mernbers and some SUPEM)rt from our contrdctor. Messrs SÈrdCS Ltd.. we
were able to invest £JO.800 {£24.800 in tkcember 2020 and £6,000 in June 2021) and can now stan raistng funds for the nexi siage or
maintenan¢e which we plan forthe winter of 2022r2023.
At the end of 2020, after ov¢r a year oldelays by the Land Registy, a 25 yur lease between DS Smith plc and SKLR Limited (th¢
Charitvl for Kemsley Down Terniinal site starting in 2019 was fina]ly regis￿led. In June 2020 an agreetnent for the use of the rest of
the railway land was signed beiween SKLR Heritage {the freeholder) and SKLR Limited (the Charity) for a peri￿1 of 999 years.
During these very difficult titnes the volunteers of the railway have continued to contribute Considerable titne and effort towards
maintainints and developing the rdilway for the benefit and education of the public. Considerable'behind the scenes" wotk continues
to tske place tl) esrablish a secure future for the rdilway as a key part of the regeneraÈion of SittinglxTrwne and Milton Regis. The future
of the railway requsres ongoing and active support from our members and any who hav¢ noi actively panicipated before are strono¥ly
invit¢d io ¢ontsci Officers li51ed in "The New Bogie- to support the Charity and ￿ share the enjoynent.
GLN)d relations continue with Swale Borough Coun¢il and the finther development of Mihon Creek County Park is progressing very
slowly. The upgrading of Milton Regis (Asda) Station will take place in the medium term following a clarifitation of further
developrnent of the Country PaTk. The deVelOp￿ent of a Skate Park and Barge Museutn at Sittingbourne on the Wharf Site was
¢ompleted by the end of 2020.
Post Balance Sheet Events
Iletween January and Mid_A￿l 2n21 fiirther gtbvernrnent supryrt for small businesses were reeeiv¢d totallins £17,716. All
additional grant of £J.400 from Kent County Coullcil for stordge coupltd with much volun￿er effort spurred the completion of the
Sirtingboume Viaduct works in time to resto￿ a reduced train s¢rYice for pre-booked passengers with appropriate distancing and extra
hygiene and cleaning aTrangernents from the beginning of May 2021. With the fuTther easing of restrictions in mid-july 2021 the
Trustee Directors will increase the trdiD Service for the summer school holidays and we hope to firtish th¢ of th¢ ￿aSOn inrluding
our Christmas trains.
The Trustees are confident that we will continue to be able to deliver a safe and w)pular pr(Mluct to enhance our support for the aiTns
and objectives of the Charity.

sI￿INGBouRNE AND KEMSLEY LIGHT RAILWAY LIMITED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2020
Page 2
Finaneial Review
The railway has adequat¢ r¢s¢rvcs to continue as a going t￿cern until the end of the 2021 operdling season and the Trustee Directorg
are actively eKplorrng additional funding sources to help to deliverplanned developrnents intended to improve ourvisitors, experiences.
Income for th¢ year was £76,783, a decr¢&s¢ from £100.248 in 2019. EX￿ndItUre for th¢ year w&5 £78.307, a d¢cr¢&s¢ from £88.880
in 2019. Overall, the Charity tnade a loss of £1.524 ￿a]n$t a surplus of £1 1.)68 in 2019.
The net asset position of the charity has reduced from £51,198 to £49.674. See note on the Reserves policy below.
Reserves Polic
The Charity relies upon CLrnt ttading income forthe fijlfilmentof its objectives. Certain historic reserves are identified in the fll)ancial
ststem¢nts. There are no restrictions upon the use of funds in fi￿ern¢e of the Charity's aims.
Unresthcted funds at the year-end amounted to £6.652 {2019- £24.796).
Desi￿ated fimds at the year-end amounted to £45.￿22 {2019- £26.402) as sel out in noie 9.
Total funds as at 31 December 2020 were £49.674 (2019- £51.198).
Goin
Con£erD
Despit¢ probl¢tn5 f4us¢d by the ¢oroDaviru$ pand¢tnic 5inre the y¢Jr¢nd th¢ Ttustees have rjow ¢oThplet¢d a 25-Ye￿ lease at peppercoTn
rent to secure the fvwre of the K¢msley Down Ttrn]inai as well ￿ securing the futllre of the rernainder of the line from Sittingboume
Viadu¢i T¢rminal. The railway re-opened thToughout in May 2012 and has operated annually sin¢e. Train services after the initial
Coronavirus lockdown reswned in May 2020 through to the end of October but we were unabl¢ to op¢n for th¢ popular Chrisimas
period. The actions that the Trustees have tsken to respond to the reduced revenues Èn 2020 and to prOt￿t the Charity as a going
con¢em are described in the Post BalarÉce Sheet Events atM)ve. The Tn￿leeS are satisfied that these accounts axe correctly prepared on
a going con¢em basis.
Plans for Future Periods
The TTUStee5 and the Charity are coullnitted to the contiDuing preservatioD and pre5entatioD to the public of th¢ forni¢r Bowat¢r'5
natrow-gauue industrial railway. From reference to the scctioD "Goillg Concetn- above it will be undeT5tood the Trn5tees are
developing l(Trng terni plans at this time.
Structure GoverDance Mana
Constitution
The Company was registered as a Charity on 25th July 1996. The Ct￿lty is a CoMp￿Y Limited by Guarantee and is register¢d by its
Memorandllm and Articles of Association.
emtnt
Trustee Direetors and their ap￿lintment
The Charity is li￿lted by guarantee and no Share Capitsl. Each TrUS￿e is liable to c(mtribute a surn not exceeding £1 in the event
of the Chartty being wound up while they are members, or within one year of ces￿L0n of being a member.
It is rnallaged by a Board of Trustee Directors. Two are appoinied by viThe of their office (Finance Manager and Managing Director)
and tht remaindtt are elected In rotation in arcordance with the Charity's Articles of A$￿)ciatIon. There are no employees" the Charity
being operat¢d ¢ntirely by volunteers.
At the Annual General Meeting lo be held on Saturday 14 Augum 2021. Mrs EM Fuller will KC5ign in accordance with Clauses 30 and
3 1 of the Charity's ArtÈcles of ASSO¢ialion and, beinu eligible, will offer herself for re-election.
Trnstee Ènduetion attd trailltug
Most T￿st¢eS have already becn farniliar with the Charity throu￿ haying served YoluDteer5 or 5ervic£ in the local community. New
Trustee5 are briefed on their legal obligations under Charity and company law. the coDteDt of the Memorandum and Articles of
Association, the Board and decision making processe& recent fmancial perfomiance alld future plalls.
Trustee Directors and their i￿terests
No coniract exisis wilh a Cornpany in whiclj a Tru5t¢e DiECCtor or their immdiate family has an interesL
Risk management
The current and anticipated risks to the Ctwsty are revkewed by Tn￿ at their Tegular mtttings. The Charity is subject to especial
risk5 due to the nature of its railway operatioDs alld coll5ideRtioD of these risks is aided by active In¢Mb￿ip of th¢ Heritage Railway
Association and r¢gulatory b(xii¢s.

SITTINGBOURNE AND KKMSLEY LIGHT RAILWAY LIMrrED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2020
Page 3
Reference aDd AdmÉnistrative Detsils
Com
re
istered number
01036616
Re
istered chari
number
1057079
Re
istered office
51 Russell Drive
Whitstable
Kent
CT5 2RG
Inde
ndeni Examiner
P. Haining Esq., Fcffj Kings Mill Praciice
Bankers
Natwest plc
Sittingl)ourne
Kent
MEIO 4EQ
Trustee Directors Secreta
The Trustee Diteciors of ihe Charity during the period and thereafter are as follows..
Elected Tnwees
Paul Vincent Besl
Daniel James Pile
Ernesi Edwin Alb¢rt Tomb￿ReSIgned l (ktober 2020)
Elizabeth Margaret Fuller
David John Prii¢hard
Paul Andrew Williams (Appoint¢d 6 June 2020)
Trustees by virtue of Office
Finance Manager
John Reginald Fuller
Vacancy
The Company Secretay of the Chariry during the period and thereafter is Nicholas Guy Widdows.
Trustees, Res
nsibilities in Relation to the Finaneial Ststements
The Trustees {who are also directors of Stttingboume and Kemsley Light Railw2y Limited for the purpose of cornpany law) are
responsible for preparing the Trn￿lee$. report and the financial ststememts in accordaice with applicabl¢ law and United Kingdom
A¢counring Slandards (United Kingdom Generally Accepied Accounting Prnctice).
Company law requires thc Trustee DiTec¢oT5 to PTepare financTal starernents for each financial yvdr. Under company law the
Trnsteemirectors must not approve the financial sratements Unless they are satisfied thev gave a true and fair view of the state of
affaits of tht chatitable co￿PanY aDd of the illcoming re50urce5 and application of r¢sources, including the income and expenditLre, of
the chariiable ¢ompany for that period. In preparing these finallcial statements, th¢ Trustees are required io:
5¢1¢¢t suitable arcounling policies and then apply them consis*nily'
observe the methods and principles of the Charitie5 SORP 2015;
make judgements and accounting esLimates that are reasonable and prudenL
prepare the financial statements Oll a going conrxm b&5is unl￿5 it is inappropriate to presume that the charity will continu¢ in
operation.
The Twstees are responsible for keeptng adequ*e accounting record5 that are suificient io thow and explain the charitable company's
transactions and disclose with reasonable ac£uracy at a¢iy lime the finallcial position of the charitable company and enable them to
ensure that the fukancÈal statetTtents complv with the Companies Aci 2006. They ate alw responsible for safeguording the assets of the
charitable Company and hence for tsking r&wnable steps for the preveniion and de￿(lon of fraud and other irregularities.
In preparing this rewrL the Trustees have taken adv8nthge of the small ¢ompalli¢5 ex¢mptions provided by section 415A of the
Companies Act 2006.
Thig report was approved by the Trustees oll 29 July 2021 and sigDed OD their behalf by:
N G Widdows
Company Secretary

REPORT OF THE INDEPENDENT EXAMIIYER TO THE TRUSTEES OF
SITTINGBOURNE AND KEMSLEY LIGHT RAILWAY LIMITED
FOR THE YEAR ENDED 31st DECEMBER 2020
Page 4
I report on the financial statements of th¢ ¢haritable company forthe year ended 31st Dx¢Tnber 2020.
This report is made solely to the charity's I￿St￿S. as a body, in aCCorda￿te wÉth section 145 of th¢ Charities Act 2011 and regulations
ade under section 154 of that Act. My WO￿ h&% been undertaken so that I might state to the chatity's trnstees those matters l a
required to stat¢ to them in this report and for no oth¢r purpose. To the fullest exieni pennitted by law. I do not accept OT assume
responsibilily to anyone otherthan the charity and the charity's tyustees as a b(Kly, formy worK forthis report or forthe opinions I have
fornied.
RESPECTtVE RESPONSIBILITIES OF TRUSTEES AND EXAMtNER
The charity'% trustees (who are also the directors of the company for the purposes of company lawl. sre responsible f(Trr the prepardtion
of financial statements. The tru%tees consider thai an audit is Dot Tequired for this year under 5e£tion 144 (2) of tbe Charities Act 2011
{Ihe'201 l Act.) and that an independent exami[￿110ll is needed.
Having satisfied fftyself that the charity is not subject to audit under comp&ny law and is eligible for independent examination, it is my
responsibility..
to examine the financial stalelnents under section 145 of the 201 l ACL
to follow the procedures laid down in the G¢n¢rnE DirectiOD5 given by the Charity Commission under section 145 (5) (b) of the
2011 Act; and
to state where particular matters have come to my attentiOII.
BASIS OF INDEPENDENT EXAMINER'S REPORT
My examination was carr2ed out in accordance with the General Directions given the Chartry Cornmission. An exarnination includes
a review of the accounting records kepi by the charity and a comparison of the financial statements presented with those records. It also
includes considerdtion of any UTtusual items or disclosures in the fjnancial statem¢nts and seeking explanations from you as trustees
¢onceming any such matters. The procedure5 undertaken do not provide all the evidence that would be required in an audiL and
onsequently no opinion is given as to whether the fuwicial 5tateTnents prcscnt a Itue and fail view ar]d thr report 15 limited to those
matteT5 Set out in the ststement below.
INDEPENDENT EXAMINER'S STATEMENT
In ¢onne¢tion with my examination, no matter has ¢ome to my attention:
(a) which gives me reasonable cws¢ to beli¢ve that in any material respect the requirements .
- to keep accountin8 records in ac£ordance with section 386 of the Companies Act 2006: and
- to prepar¢ finan¢ial statements which accord with the ac¢ounting records and to ¢omply with the accounting requirements of
section 396 of the Companies Act 2006 and wtth ffleth(Mls and principles of the Statement of Recommended Practice .
Accounting and Reporting by Chariti¢s hav¢ not been meL or
Ib) to which, in Tny opinion. attention shollld be dr&wn in order w enable a pmper undetstsllding of the financial statements to be
reached.
PETER HAINING
P¢ter Haining FCA
The Kings Mill Practice. Chartered Accountants
Homs Lodge
Meres LaD¢
Cross- in-Hand
Heathfield
Easi %ussex TN21 OTY
Date .
i ts ￿ August 2021

SITTtNCBOURNE AIW KEMSLEY LIGHT RAILWAY LIMITED
STATEMFNT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2020
Page 5
Designated
Unrestricted
2020
2019
Note
INCOME FROM:
Charitable activities
MeTnb¢r5' Subs¢riptions
General donations
Designated Fund Incorne=
Locomotive R¢s￿ratIOn
Coath 204 R¢stordtion
Sittingbourne Securiry
SOS Appeal donations linc. Viaduct)
l¥oject Sittingbourne
Ticket&, Special Trdins
Publitaiions and Souvenir5
Refreshmenis
s￿aM and Beer Events
Christmas Opening
Inwestments
Bank interest received
Other
Sundry
Total
3.891
175
3J91
17S
3,374
I,)05
5098
5,898
1.000
838
29.405
23,8SO
7.977
1,078
2,67
19.149
1.000
6.207
11.569
838
29,40S
23JS0
7.977
1,078
2,67(1
30,366
4,895
2,102
6,290
60.991
IS792
76.783
100,248
EXPENDITURE ON:
Chariiable activities
Cost ot Sales
Operaiing Costs (Comm. + Eng.)
SOS Appeal Expenditllre(inc Viaduct)
Sittin¥bouTne Security
Projeci Sittingbourne
Support Costs
Independent examiDers fee
2J58
15565
2J58
22,142
24.980
5.160
7.654
J4J18
995
17,399
36,656
17,480
265
6577
24,980
5.160
7ffj54
14518
995
14.755
2,325
Totsl
44J71
33.936
78J117
88.880
Net Movement in FuDds
16ffi20
(1&144)
(1.524)
11.368
Transfers
RECONCILtATION OF FUNDS:
Total fund5 brought forward
4112
24,796
51,198
Total funds carried forward
43.022
6,652
49.674
51.198
All transaction5 are deTived from conttnuing activities.
All recO￿lsed gains and losses are included in the statement offinancial acrivities.

SITTINGBOURNE AND KEMSLEY LIGHT RAILWAY LIMITED
Page 6
Oiegistered Number 01036616)
BALANCE SHEET AS AT 31 DECEMBER 2020
Note
2020
2019
FIXED ASSETS
Tangible As5¢ts
14
17
CURREKf ASSETS
Stocks
Debtors
3,908
6,992
4,270
2.842
Loan to SKLR Herilage
{Repayable in more thaTr l year)
Cash in hand and in ballk
3926
51.16
45_569
5i.681
CREDITORS (amounts due within one year)
NET CURRENT ASSETS
49.660
TOTAL ASSETS less CUIiRENT
LIABILITIES
49,674
51.198
UNRESTRICTED CHARITY FUNDS
Designated Funds
General Funds
43,022
6,652
26,402
24.796
TOTAL FUNDS
49.674
51.198
The company's fmancial statements have been prep￿ in accordance with the spwial provisions applicable to companies subject to
the small companies regime of the Companies Act 2006.
Th¢ Trustees consider that the coropany is entitled w exemption froln thc requircm¢nt to have an audit under the provisions of section
477 of the Companies Aet 2006 I￿¢ Act-) and members haye not required the company to obtain an audit for the year in question in
a¢cordance with se¢rion 476 of the ACL
The Ttvsiees acknowledge their responsibilty for complying with the requirements of the Compatties Act 2006 with respect to
accouniing records and the preparaiion of the financid statements.
The financial statements were appToved and authorised for issue by the Tnsttts on 14 August 2021 and signed on their behalf, by:
DJ Pile
PA Williams
Trustee Director
The accompanying notes forrn a￿ integrdl part of these fmancial ststements.

SITTINGBOURNE AND KEMSLEY LIGHT RAILWAY LI￿[TED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
Page 7
Accountin2 Policies
1.1 Basis of Accounting
Sittingbourne and Kemsley Light Railway Limited is a eornpany limited by guardntee in the United KingdoTn. In the event
of the charity being wound up, the liability in respect of the guardntee is limited to £1 per member of the charity. The
address of the r¢gistered office is given in the charity information on page 3 of these financial staternents. The nattjre of
the chariry's operations and principal activities are Set out on page l.
The charty ￿nstituteS a public benefit e￿titV as defffled by FRS 102. The fin3ncial 5tateTnents have been prepared i
accordance wÈih Accounting and Reporttng by Chattties". s￿eEDe￿I of Rttommended Ptactice applicable to charities
preparing their accounts in accordaDce with the Financial Rew)rting StsDdard applicable in the UK (FRS 102). the
Financial Reporting Stsnthrd applicable in the United Kingdom (FRS 102). the Charities A￿ 2011. UK Generally
Aecepted Practice as it applie5 from l Janw 2015 and the Charity SORP (FRS102) arnended for Update Bulluin l.
The fmancial sNements are prepared oll a going concan b&8is under the historical cost COT]Vth]tioll. ￿odIficd to include
cenain items at fair value. The financial ststements are prepared in sterling which is the fimctional currtncy of the charity.
The significant a¢cow)ting WFli¢ies applied in the prepaY*ion ofthese financial ststements are set out below. These
policies hav¢ been consistently applied to all years ptesenied unless otherwise statoj.
The presentation and functiona] currency are in British £ and have been rounded to the nearest £.
1.2 Fund #ecoutsting
General funds are unrestricted ￿ndS which are available for use at the discretion of the Tn￿teeS in furtherdnce of the
general objectiv&% of the company and which have not been designatrd for other putpose5.
D¢signated funds comprise unreslricted fimds that have been Sel aside the Trustees for particular pu4)oses. The aim and
u% of ¢a¢h d¢sign*¢d fund 15 Set out in no￿ to the fllwtcial swements.
IJ Tangible fixed assets and depreeiatio
Tangible fixed assets are stat¢d at cost less depreciation. Depreci&ion is provided at rates Calculat￿ to write off the cost of
fixed assets, less their estimat¢d residual value. over their expected useful Iivc5 on the following bases..
Buildings
Rolling Siock
Sundry Plant and Equipment
Electronic Equiptnent
201/b￿ on written down value
20/￿ 011 Cost
7.5°h on cost
2￿/0 On Cost
1.4 Incothe
All incorne included in the Ststement of Financial Activities when the company is legally eniitled to the incorn¢ w]d th¢
atllount call be quantified with rrasonable accLW.
1.5 Expenditure
All expenditure i5 accounted for on an a¢¢n￿lS basis and h&8 been included under expense categories.
Support cosrs are those cO￿S incurred direeily supFth of expenditi]re on the objects of the charity. Governance costs are
those incurred with adminiswion of the charity and compliance with consiimti¢)nal a￿￿ statutory requirements.
Costs of raising funds are costs in¢uTred ill attracting voluntary tnwn¢ and those incurred in tr￿ling activities that raise
fund5.
Charitable activities and GoVern￿Ce costs are cosrs incurrfyj on the company's operations including support costs and
costs relating to the governance of the company apportioned to charitsble activitie&
1.6 Stocks
Stocks are Yatued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving
stocks.

srrTINGBOURNE AND KEMSLEY LIGHT RAILWAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
Page 8
1.7 Debtors
Trade and other debtors are measured ai transaction price less any Émpainnent unless the arrangement constitutes a
financing transaction in which case the transaction is measured at the present value of the future receipts discounted at the
prevailing market rate of interest . Loans are initiallv measured at fair value and are subsequently measured at amortised
Cost using the effecÈive Inte￿St methiml any impairmenL
1.8 Creditors
Trade and other creditors are measured * their tmsaction price unless the arrangement constitutes a fmancing transaction
in which case the trdnsaclion is measured ￿ pte5ent value of fubjre payments discounted at prevailing market rate of
interest. Other f￿ancial liabilities are iniiially ￿easUred at fair value net of their transaction costs. They aTr subsequently
measured ￿ amortised cost USiDg the etTe¢(ive interest method.
1.9 Judgements and key sourees of eSti￿ation ullcertainty
Ac¢ounting esttmates and judgements are ¢ontinualli' evaluated and are based on historical experience and other factors.
including expectatioll5 of ￿tUre events that are believed to be reasojjable under the circumstances.
The following judgements (apart from those involving esiimates) have been made in the proce￿ of 4)plying the aiKTrve
accounting policies that have had the most signifjcant effect on arnounts recognised in the fmancial statements..
Useful economic lives of tantsible
The annual depreciation charge for tangible assets 15 Sensitive to Cl￿nge5 in the estimated use￿1 economic lives and
residual value5 of the assets. The useful economic lives and residual v￿￿eS are re-assessed annually. They are amended
when necessary to reflect current estitnates, based on technological advancernen¢ fu￿re investments. economic utili5ation
and the physical condition of the assets. See noie 5 for the carrying amouni of the propery plant and equipmeni and note
1.3 for the useful economic lives for each class of &￿ts.
There are no key as5umption5 concerning the fvtur¢ and other key sources of estimation unce￿]nty at the reporttng date
that have a significant risk of causing a material adjustEDellt to the catryillg amounts of assets and liabiliti¢s within th¢ next
financi￿ year.
1.10 Golng concern
The financial Sta￿ments have been prepared a going concern basis as the trusttts believe that material uncenainties
exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months
from authorising these financial statements. The budgeted income and expendits￿e is sufficient with the level of reserves
for the charity to be able kn conliT]ue as a going concern.
C05t of5ale5
21120
2019
Publications and Souvenirs
Refreshments
Steam and Beer
Christmas Opening
449
2,409
2,511
6.918
3.829
4.141
17.i99

SI￿INGBouRNE AND KEMSLEY LIGHT RAILWAY LIMtTED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
Page 9
Operating costs
20211
2019
CoDirnercial Departn)ent costs
Retail- Catering Equipment
R¢tail - Staff Cat¢ring
Retail - Sundry
Operating- Opetating Manager
Operating- Motive Power
Operating- Stations / Landscaping
Marketing- Leaflets, Posiers dc
Marketing- Advertlsing
Marketing- PR and Sundries
382
274
324
.9S7
27S
544
620
1,237
1,056
2,699
1.359
455
1,133
195
7J33
8,024
EDgiMeeriDg Department Costs
Locomotive Engineer
Locomotive Restordtion Fun¢ls
Carriage and Wagon Engineer
Coach 204 Restoration Fund
Permanent Way Enginter
Buildings Engineer
Electritral Engineer
2,069
6J77
1.815
9.649
7.428
1.304
697
6,013
3.056
485
2,032
1,4119
907
14109
28,632
TOTAL
22,142
36.656
Support costs
202fl
2019
Security {inc. Defibrillator Fwid Raising)
Editor
Managing Director/Company Secretary tkpartments
Insurance
Depreciation
Bank ChaTges
Curator
Edu¢atiOII
Sundries
2510
3119
2.482
7,015
2,624
1,347
566
8.093
1,074
(29)
962
14518
14,755

SITTINGBOURNE AND KEMSLEY LIGHT RAILWAY LIMITED
NOTES TO THE FINANCIAL STATEMEIYTS
FOR THE YEAR ENDED 31 DECEMBER 2020
Page 10
Tangible Fixed A$s¢ts
B￿lIding$
Rolling
Stock
Electronic
Equipment
Plant
Equipment
Totsl
COST
At l January 2020
6.454
DEPRECIATION
At l January 2020
Charge for the year
6,435
14,000
6,453
9,796
36.684
Ai 31 December 2020
6.438
14.0(X)
6.453
9,796
36,687
NET BOOK VALUE
At 31 DECEMBER 2020
li
14
At 31 DECEMBER 2019
14
Stoeks
2020
2019
Publications and Souvenirs
Refreshmenis
Chrlstmas Presents
3,636
3,704
294
272
272
3.908
4.270
Debtors
2020
2019
Value Added Tax
2,842
6,992
2,842
Creditors (amounts falliDg due within One year)
2020
2019
Independeni examiner's fee
1500
2,500
150

SITTINGBOURNE AND KEMSLEY LIGHT RAILWAY LIMITED
NOTES TO THE FINANCIAL STATEMENrs
FOR THE YEAR FNDFD 31 DECEMBER 2020
Pag¢ll
Stattment of funds- curreDt year
Balanty
Balanee gt
31.Dec.20
lJ*n.20
Income
Expenditure
Transfers
Unrestricted fund
General fund
24,796
15,792
Designated funds
SOS Appeal Donation5 illc
VÈadu¢¢ Repairs
1,406
29,405
(24,9801
5,83 1
Locomotive + Coach
Restoration
Project Sittingbourne
{DCMS Grant)
SlttingboL￿ne Sexurtty Fence
19,054
6.898
(6.5m
19,375
23,850
838
(7,654)
15.160)
16,196
1.620
5,942
26,402
60,991
(44,371)
43.022
TOTAL FUNDS
51.198
7&783
(78J07)
49.074
StaterneRt offuThds- prior year
Babnce
Balance at
31.Deo19
lJall.19
Income
Expenditure
Tr*tssftrs
unrestrict￿ fund
General fvnd
48
6i,010
42.603
DesignAted funds
Appcal Fund Donations for=
Viaduci Rcpair5
2.639
(17,300)
14.661
Locomotiv¢ 4 Coach
Restot7tion
7.030
(8,125)
20.149
19,054
Sittingboume Security Fence
(265)
(180)
6207
5,942
1,406
SOS Appeal
1.586
9.069
(25.870)
42.603
26,402
TOTAL FUNDS
J9J31
IIKb248
(88.880)
51.198
Designated funds
eal fund for viaduct aDd ma
orre
Ars
It is considered prndent to make provision primarily formaintenance of Milton Regis Viaductwhich is under the oV￿31ght of a qualified
Consulting Structurdl Engineer. An ongoing maintenance programme lor this IO0+ year old sthEcture requires investment of
approximately £20.000 every two year5 and allocataon of fimds requires more than one f￿anCIal periiKi. Funds ean also be used for
othcr major repairs a5 con3ide1¢4J appiopii￿c by the Trusiees. lil iliis yeat funds httve b￿￿ replace securiiy fencing ai
Sittingknume Viaduct Tern)inal.
Locomotiv¢ and Coach Restoration
Major overhaul of the Railway's operdtional steam locomoiives is generally required every ￿ll yeas and it is therefore n¢c¢s5ary lo
raise funds atjd to make provi51011 toi this work over a long periryl. Passenger C¢)aches also need pertodic major overhaul.
Unrestrieted
eneral fvlld
This fund represent5 the charity's available assets to spend on charithble activities after aIlowing for a suitable level of reserves.

STTTINGBOURNE AND KEMSLEY LIGHT RAILWAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
Page 12
10. Staff costs #Dd trustee remulltrntio
During theperh￿] no Trustees received any Temuneration, benefits in kind. norhad any expenses reimbursed (to 31112r2019- £nil).
All stsff are volunteer5 and therefore staff are Nil both for 2020 and 2019.
11. Company Limited by G￿￿ra￿trt
The Charity is limited by guarantee and accordin&tsly h&$ no share capital.
The liabiliry guaranteed by exh ￿￿tee is £1. Ai i l DeceTnber2020 there were 6 trustees.
12. Covid-19
During the period and subsequent to the peri(Ml governments in Europ< Chini the UK 8nd elsewhere have taken
llnpreCeden￿d measures to suppress the spread ofcovid-19. The Trustees have assessed the ope￿10nal alld financial irnpact on
the Charity in th¢ Trustees. Annual Report ots page l and ill tbe gotng concern statemeni at no* 1.10.