SITTINGBOURNE AND KEMSLEY LIGHT RAILWAY LTD FLNANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Registered Company No: 01036616 Registered Charity No: 1057079
SITTINGBOURNE AND KEMSLEY LIGITT RAILWAY LIf*UTED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 INDEX Repon of the Tntstres l Directo Independent Examiner's Report to the Trustees Swemeni of Financial Activities Balance Sheet 7-12 Note5 to the Financial Statements
SITTINGBOURNE AND KEMSLEY LIGirr RAILWAY LIMITED REPORT OF THE TRUSTEES FOR THF. YEAR ENDED 31 DECEMBER 2021 Page I The Trnsteemiiectors submit their report together with the unaudited fiftan¢ra] 5taternents foT the year ended 31° D¢¢ember 2021 Ob'ectives and Aetivities The Charity is primarily engaged in thc advancement of the education of the public by the establishment and PreserV10n of a working narrow-gauge heiit4tTe railway. Achievements and Performance Having not been peTmitt¢d to open for our rwular Christmas trains tn December 2020 we started 2021 with a significant revenue shonlall. In October 2020 we were awarded a sigllificant goveTnmeDt Depathent for Dtgitai, Culture, M¢dia & Sport (DCMS) Retovery Fund for Heritag¢ Cjranr of £26,500 which. coupled with many hours of volunteer tirne over ihe winter. enabled us to deliver long awaited enhancements to provide toilet and staff facilitie& sfree access. improved security and stordge facilities Siningbourne Viadllct. An addiiional Grant of £3,400 from Keni County Council iogether with Support fimdlng and business re-start grants from Swaic Borough Council ttstalliRg around £18,500 received between January and April 2021 enabled this project and other Works to be ¢ompleted SucsSfUllY enabling us lo rewn on IA May 2021 with the new facilitie The lack of trains ai Christmas 2020 ldt that ourspeciaii5t contrauot5 were able 10 colnplete the scheduled maintenancc programme on Milton Regis viaduct early in the New Year with additional restordtion on the two Prentis Qllay Bridges. With f]nancial support from our tnembers and some sup]x)rt from our contractor, me SirdC5 Ltd.. we were able to Èllvest £30,800. Further maintenance works are scheduled for the winterof 20221202? alld itwill bc Decessary to pui aside funds from the 2022 s¢ason forthese. It was possible to re5Èor¢ a reduced train service for pre4K)oked pas5eDgers with appropriate distsncing and extrd hygiene and cleaning arrangemenis from the beginning of May 2021. With the fvnher easing of restricti0ll5 in mid-July 2021 the Trustee Dtrectors were able to increas¢ th¢ train service for th¢ suner school holidays and w¢ completed the Tnain season as well as our Christmas trdiDS. By the end of the yvdr our operatin(k revenues had recovered to about 70/ of the pte-pandemic levels In June 2021 an agreern¢nt forthe use of the rnilway land betwf£n Sittinsbourne Vtaduct and the boundary of the leased land Kemsley Down was signed beet SKLR Hertrage (the freeholder) and SKLR Limiied (the Charity) for a peri(Kl of 999 year5. During these very difficult times the volullte¢rs of the railway have ¢ortlinued to conthThute considerable time and effort towards Matilaining and developing the rdilway for the benefit and education of the publtc. Considerable'behind the s¢enes- work continues to take place to establish a secure future for the railway &$ a key parr of the regenerdtion of Sittingbourne and Milton Regis. The furure of the railway requires ongoing aTrd active support from our membeT5 and any who have not actively participated before are strollgly inviied to contact Officers listed ill 'The New Bogie" to support the Ch8rÉty and to share the enjoymenL Good relations ¢oniiAue with Swale Borough Council and the fuTtherdevelopment of Milton Creek County Park is progressing slowly. Thc upgrading of Milton Regis (Asdal sl0n will tske place in the MlUM ietm following a clartficati(Trn of fvrther development of the Country Park. The developTnent of a Skaie Park and Baroe Museum at Sittingbourne on the Wharf Site was eompleted by the end of 2021 and the arrival of the Thames Barge-Raybell- has enhanced the attr8Ction of this ar Post Balance Sheet Events In Febnjary 2022 a rth¢r governmeni support grani for small busin¢&ses was received totslling £2,667. An additional grdni of £8,170 was received frorn Swale Borough Council in March 2022 for the purch of steel boiler plate for the constnjction of new inner fjreboxes for'"Superb" and also for"Triumph" to pro$$ their scheduled major ovethauls. A significant event in May 2022 was ihe r¢Nm to service of our oldesi lts¢omotive "Premierf- after a lenuthy overhaul and restoration as near as practical to -'a9 delivered" ondition. The eveni was saddened by the withdrawal of ptemi¢r's slightly younuei sister -Ikader" at the end of her operating certificate. However, our locomotive fleet was incre&sed by one as 0e[ship of "Leadrf was handed over to the Charity by the consortium of members who had owned her since 1969. This will enable the Clwity to rais¢ funds for her eventual overhaul. A fully funded 5ucce5sful visit bY"preIer to our ¢olleagues at the We]shp[ and Llanfair Light Railway for their Gala in Sepiernb¢r 2022 has enabled u5 to undetTrke hei ttl8-in and tesiing in a challenging envtronmeDt at no cost to the SKLR. This included the successfi&l teshng of her prototype new v&uum brnke equipment trdffic which could not at preseni be done on our railway. The Trustees are confident that we will Continue to be able to deliver a safe athd wular prodlld to enhance our support foT the aims and objectives of the Charity.
SITTINGBOURNE AND KEMSLEY LIGHT RAILWAY LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021 Page 2 Finaneial Review The railway has adequat¢ T¢serves to continue as a going ¢(¥ncern until the end of the 2023 opeming season and the Trustee Dircctors are actively exploring additional fimding sources lo help to deliverplaTed developments intended to itnprove ourvigitot5' experiences. Income for the year was £90.505. att increase from £76,783 in 2020. Exditit for the year was £90,902 8n inaSe frorn £78,307 in 2020. Overall, the chartty made a loss of £397 against a loss of £1524 in 2020. The net asset Position of the ch8riry has reduced frorn £49,674 to £49277. See n(Ae on the Reserves policy below Reserves Poli¢ The Chariry relies upon current trading income forthe fulfilment of its objectives. Certain hi#oric reserves are identified In the financial statements. There are no restrictions upon the use of fimds in furtherance of the Clwity's aims. Unrestrict¢d funds at the year-end amounted to £25,118 (2020- £6.652). Desi8nat¢d funds at the year<nd aounted to £24,159 {2020- £43.022) set out in note 9. Total fidS as at 31 December 2021 were £49277 {2020- £49.674). oin Concer The actions that the Trustees t(M)k to respondto the redu¢¢d revenues in 2020 d¢liv¢red a return to about of pre-pandemic Tevenues by the end of 2021 and sleps to protect the Charity as a going concern are describeAI in the P05t Batance Sheet Events above. The Trustees are satisfied that these accouDlS are cottectly pr¢par¢d on a going conc¢tn basis. Plans for Future Periods The Trnsiees and the Charity are committed to the continuing preseTvation and presenlOn to the public of the forn)er Bowater's narrow-gauge industrial railway. From reference io the section -Going Concern- above ti will be UTJdeTStood that the Trustees are dev¢loping long term plans at this lime. Stru¢tvre Governanee and Mana Cunstilution The Company was regimered as a Charity on 25th July 1996. The Charity 15 a Company Limited by Guaralltre and is registered by its Memorandum and Articles of ASS(latiOn. ement Trustee Directors and their appointment Thc Charity is limited by gUarane and has no Share Capital. Each Tee is liable to contribute a sutn not exceeding £1 in the event of the Chariiy being wound up while Èhey are members, or within one ytrar of Cessation of being a member. It is Tanag by a Board of Trustee Directors. Two *e aPPOTllted by virtue of their office {Finan¢e Manager and Managtng Director) and the reEnainder are elected in rotation in accordance with the Charity's Articles of Asso¢iation. There are no emPloys. the Charity being operated entirely by volunteer5. At the Annual General Meeting io be held on Saturday 8 (ktober 2022, Mr DJ Pritrhard will resign in aecordanee with Clalls¢s 30 and 31 of the Charity"'s Articles of AsSlatIon an¢ being ¢ligiblc, will offer herself for re<lection. Trustee induction and training Most Trustees have already been familiar with the Chartty thrgh having Served as volunteers or seryice in the l(Kal comlnunity. New Trnstees are briefed on thetr legal obligatlODS Utder charitv and company law. the content of the Memordndum and Articles of Associatio the Board and decision-making pro¢¢sse4 recent fInaClaI pfOrniace and future plans. Trustee Directors and their interests No contrdci exists with a Company in whiclj a Tn¢¢ Dir¢rlor or their immediate f&nily h&8 an interest. Risk management The turrent and anticipated risks to the CharÉty ate reviewed by TnWtts at their regular meetings. The Chariiy is subjeci io espetial risk% due to the nature of its rnilway operdiions and consideration of these risk5 15 aided by active membershhp of the Heritage Railway Association and regulOry b(wJies.
sIINGBouRNE AND KEMSLEY LIGirr RAILWAY LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021 Page 3 Reference Admillistrative Detsils Com r¢ istered n 010)6616 istered Chari JTrumber 1057079 istered office 51 RutIl Drive Whitstable Kent cr5 2RG Ind end¢nt Examiner P. Haining Esq., FCA. Kings Mill Practice kers Natwest plc Sittingbourne Keni ME104EQ rstee Direetors #lld Secret8rv The Trustee Directors of the Charity durillg th¢ period and thereafter as follows: Elected Tn]stees Paul Vineent Best Doniel James Pile Paul Andrew Willlains EIizAbeth MaTgaret Fuller David John Pritchard Trnstees by virtue of oifice Finanr¢ Manager John Reginald Fuller Managing Directi Vacancy Th¢ Company Se¢Tetary of the Charity during the petiod and thereafter is Nichol&s Guy Widdows. Trustees, Res nsibilities in Relation to the FinTh¢ial Ststemellts The TtU5tees (who are also directors of Sittingbourne and Kemslej. Light Rhilwa), Limited for the pUr)se of company law) are responsible lor preparing lh¢ TtU5tee5' repon and the fan(la1 swements accordance with applicable law and United Ktngdom A¢¢ountit]g Standards {Uniied KingdoEn Generally Accepted Accounting Practi¢e). Company law requires the Tnwee Directors to prepare fillaDcial s¢atetnents for each fmancial vear. Under company law the Trnste¢/Director5 musi not approve the financial statrtnents ualess thry are 5ati5fte41 thai they giv¢ a true and fair vi¢w of the srate of affairs of the chariiable company and of the inromino resouTCCS and application of resources, including the income and ¢xp¢nditure. of the charitable ¢ompany for that peri(Kl. In prtparing these fll)ancTal 5tstements, the TtU5tees are required to.. select suitable accounting polieie5 and then apply them consistsntly- observe the methods alld principles of the Charities SOIiP 2015- make judgements and accounting estimate5 th are reasonable and prndent. prepare the fman¢ial statcD]cnts on a going concern basis unle55 il is inappropriate to presume that the charity will contit]ue in operation. The Trustees are responsiblc for keeping adequ*e accounting tecords that are sufficient to show and explain the Charitable company's trnnsactiot25 and disclos¢ with reasonable accuracy at any iirne the financial P051EiOn of the charitable company and enable them to ensure ihat the fll)ancial st2tements ¢omply with the Companies Act 2006. They a 50 responslble for safeguardin(k the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and othet iFregularities. In preparing this repor( the Tn]Mees have taken advantage of the small compani¢s exemptions provided by section 415A of the Companies Act 2006. Thi5 report was approved by the Trustees ¢)n 25 September2022 and signed on their half by: N G Widdows Company Secretary
REPORT OF THE INDEPENDENT EXAMINER TO THE TRUSTEES OF SITTINGBOURNE AND KEMSLEY LIGHT RAILWAY LIMITED FOR THE YEAR ENDED 31st DEcEIBER 2021 Page 4 I report on the financial Se[ents of the charitable company forthe yedr ended 31st December 2021. This report is m&de solely to the chariry's trustees. as a body, in acrdanCe with s¢rtion 145 of the Chariiies Act 2011 and r¢gulations made under section 154 of that Act. My work has been undertakcn 50 that I might 5t*e to the chartty's trusttts those tnatters l am required to State to them in this report and for no other purpose. To the fullest extent pernjitted by law, I do llol accept or a5surne responsibility to anyone otherthan the charity and the charitys trustees &% a b(Kiy, for Illy WOTk, for this report orforthe opinions I have fonned. RESPECFIVE RESPONSIBtLITIES OF TRUSTEES APID EXAMINER The charity's tTU5t¢¢s {who are a150 the directors of the compaDy for the purposes of company law), are re5pon511>le for the prepaTation of fanCIal statements_ The twstees ¢ot)sider thai an audTt is not required for this year under section 144121 of the Charities Act 2011 (the ?01 l Aci.) and that an indepet]deT]t examination 15 ned. Having satisfied Tnyself that the charity is not subject D) audit under eomp8ny law and is eligible for independent examination, it is my responsibility= to examine the financial statements under section 145 of the 2011 Act- to follow the procedures laid down in the General Dtrecuons given by the Charity Commis5ioll under section 145 (5) (b) of the 201 l A¢t= and to state where particular matters have com¢ to my aueniKm. BASIS OF INDEPEJYDENT EXAMINER'S REPORT My examination was carried out in accordance with the Gener&] Directions given bythe Charity CommissioD. An exalnination it]clude5 a review of the accouniing records kepi by the ¢hariry and acompari50ll ofthc fina]cial 5ts1ements preseni¢d with those records. It also includes consideration of any unusual items or disclosures in the fmancia] statements and seeking eXplanlonS from you as trLLStees concerning any such matteT5. The proceduTeS undertaken do not provide all the evidence that would be required in an audit. and COT15equently no opinion i5 given a5 to whether the r]n3llciai statements present a Irue and fairf view and the rew)n is limited to those matters set out in the statclnctrt b¢low. INDEPENDENT EXAMINER'S STATEMENT In connection with my exalntnation, no matter h&5 COtAe to my attention: (a) which gives rne re4sonthl¢ cau5¢ to believe in ony material respect the requirements: - to keep accounting records in OrdanCe with section 386 olthe Companies Aci 2006. and - prepare fancial stsiements which accord with the accounting records and io comply with the accounting requirements of section 396 of the Companies Aci 2(106 and with methtyts and principles of the State¥n¢nt of Recornmended Practicc Accounting and Reporting by ChlÉ]eS have Dot be£ll met: or (b) to which, tn my Opinio attention should be drawn in order to ¢thable a proper UndeandIng of the fiDdu¢ial statements to be reached. PETER HAINtNG P¢t¢r Haining FCA The Kings M&ll Practice. Cbartered Accountants Horns Lodge Meres Lane Cross- in-Hand I leathfield East Sussex TN21 OTY Date . 2b4 September 2022
s11GBOURNE AND KEMSLEY LIGHT RAILWAY LIMITED STATEMENT OF FINANCIAL ACTlVtTIES FOR THE YEAR ENDED 31 DECEMBER 2021 Page 5 Desigthattyl UDrestrieted 2021 2020 Note INCOME FROM- Charitable activities Members, Subscriptions General donations {inc. Covid Grants) Designaied Fund Incom¢.' Locomotive Restoration Coach 204 Restoratio Sittingbourne Secllrity SOS Appeal donations (inc. Viaduci) Project Sittingboume Ticket special Trains Publications and Souvenirs Refreshments Steam and Beer Events Christma5 Opening Investments Bank interest received Other Sundry Total 3,520 28829 3,S20 2&829 3.891 175 7,122 7,122 5,898 1,000 8i8 29.405 2i,850 7.977 1,078 2.670 5.625 2,6511 2,650 22J60 4.175 IOJ36 22.860 4.175 IOJ36 5,1154 5,054 334 75,1118 334 90005 A5J97 76,783 EXPENDITURE ON: Cost of Sales Operating Costs (Comm. + Eng.) SOS Appeal Expenditure (inc vlad1) Sittingboume Security Project Siihngbourne Suppon costs Independent examiners fee 10,166 10.166 32,746 6J06 2,858 22,142 24.980 5,160 7,654 14,518 995 9,108 OJ06 27J82 27J82 13.027 1275 13,027 1275 Total 90 78,307 Net Movement In FuDds (27J99) 27.1102 (39D (1.5241 Transfers 8536 (8536) RECONCILIATION OF FUNDS: Total fi]nds brought fonvard 49 6.652 74 51,198 Total funds carried forward 24.159 25,118 49377 49,674 All trallsaction5 are derived from continuing activities. All recognised gains and losses ate included in the stateTnent of financial activitie&
sIINGBouRNE AND KEMSLEY LICWT RAILWAY LIMITED (R¢gistered Number 01036616) BALANCE SHEET AS AT 31 DECEMBER 2021 Page 6 21121 2020 FtXED ASSETS Tangibl¢ Assets 12 14 CURRENf ASSETS Stocks Debtor5 3J98 2,479 3,908 6.992 Loaft to SKLR Heritage (Repayable in more than l year) Cash in hand and in bank 43J88 50.765 39,260 51,160 CREDITORS (amounts due wtthin one year) 8 1.500 NET CURRENT ASSETS 49265 49.660 TOTAL ASSETS less CURRENr LIABILITIES 49277 49.674 UNRESTRICTED CHARITY FUNDS Designated Fund5 Generdl Funds 24.159 25.118 43,022 6,652 TOTAL FUNDS 49277 49.674 The company's financial statetnents have been prepared tn accordance wtth the Special pmvision5 applicable to compallies SbJec1 io the small companies regime of the Companies Act 2006. Th¢ Trnstees consideT that the company is entiiled io exemption from the reqUent to have an audit wider the provisions of section 477 of the Companie5 Ad 2(6 ('he ACV,) and membeTS have not required the company to obtsin an audit for the year in question in accordance with sectioll 476 of the Act. The Trustees acknowledge their responsil)ilitv for complying with the requirernents of the Companies Act 2006 with respect to accounting reconis and the prepardtton of the fancial $thMents. The financial sratements were approved and auth0ri5ed for i&sue by the TnJses on 25 September 2022 and signal on their behalf. by.. DJ Pile PA WÈlliam$ Trustee Dirthr Trustee Director The acCompy1g notes fonn an integral part of th¢ financial strternents.
SITTINGBOURNE AND KEMSLEY LIGHT RAILWAY LIMITED IYOTES TO THE FINANCIAL STATEMEiYrs FOR THE YEAR ENDED 31 DECEMBER 2021 Page 7 AeeollntiDg Policies 1.1 Basis of AccouDting Sittingbourne and K¢msley Light Railway LTmtted is a company limited by guarantee in the United KingdoTn. In the event of the ChilY being wound up. the liabiliry in respect olthe guarantee is limited io £1 per member of the charity. The address ot'the registered office Is given tn the charity illforniwion ort page 3 of these fjnancial statements. The natur¢ of th¢ ¢harity's operdtions and principal aciiviiies are set out on page l. The charity ¢onstitutes a public benefit entity L8 defined by FRS 102_ The financial statements have been prepared a¢¢ordance with Accounting and Reporting by Charities= Ststemcnt of Recomrnendcd Praaice applicable to charities preparing their accounts in acc4)rdance with the Financial Reporting Standard applicable it] the UK (FRS 102), the Financial ReponiDg Standard applicable the United Kingdom (FRS 1021, the Charities Act 2011. UK Generally A¢ttpied Practice it applies from l January 2015 and the Charity SORP IFRS102} amended for Update Bulletin l. The financial Se[nents are Prepared a going Concern basis under the historical cosi convention. Tn(Kiified to include certain items at fair value. The financial ststements are prepared in sterling whidt is the functional currency of the charity. The significant accouniÈng policies applied in the prepBrnii)n of these fitwicial swements are set out below. These policies have been consisiently applied to all years presented unless otherwise stated. The presentstion and fundional currency are in Briiish £ and have beeD Unded to the nearest £. 1.2 Fund aetOUDtiDg General funds are unrestrlcd funds which are available for use the discretion of the Trustees in funhetance of the general objectives of the COEnpany and which have not been desigllated for other purpose5. Designated ndS cornprise unrestricted funds that have been get aside by the Trustees for particular purposes. The aim and use of each designaied fimd 15 set out in noie5 to the financial statements. 1.3 Tangible fixed assets and depreciation Tangible fixed assets are stated at cost less depr¢ciatioD. Deprttiation is provided at rates calculated to write off the cosi of fed assets, It their estimaied residual value, ovtr their expected use1 lives on the following bases: Buildlls Rolling s[k Sundry Plant and Equipment Ele¢tronÈc Equipment 2/fj on wrilten down value on cost 7.5Vo Oll Cost 200kn on cost 1.4 Income All inCOTne included in the Statement of Financial Activities wh•] the company is legally entitled to the incorne and the amount can be quantlfied with re&sonable accts¥a¢y. 1.5 Expenditure All expenditure Is accounted for OD an accruals basis and has becn iDcludeAI under expense c*egories. Support costs are those costs incurwl directly in sllprt of expendiDJre on the objects of the charity. Governance costs are those in¢urred WEth adTninistrati¢)n of the clwity and compliallce with con5ti1Utiollal and statutory requirements. Costs of rnising fund5 are costs incwred in atttacting Yolunw incom¢. alld those incurred in trading activities that rniye fvnds. Charitable activitits and Governance costs are costs incurred on the cornparty's operattotJ4 including support costs and costs relating to the governanc¢ of the company apportioned to clwitsble activities. 1.6 Stocks Stocks are valued at the lower of cost alld net realisablc value after making due allowance for obsolete and slow-0ving stocks.
SITTINGBOURNE AND KKMSLEY LIGHT RAILWAY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Page 8 1.7 Debtors Trade and other debtors m¢asured at transaction price legs aV iTnpairnieni unless the arngernent consttiutes a rinancing transaction in which clse thc Iransacrion is measured & thc present value of the fuwre receipts discounted at the prevailing market rate of interest . Loans are initially Tnea5ur¢d at fair value and atr subsequently measured ai amortised cost Using the effective int¢r¢st meth1 less any iwpairnienL 1.8 Creditors Trade and other creditors are measured at their tra[¢0 wice Lude&s the arrdngemeni constituie5 a financing trdnsaction in which the transaction is measured at present value of rUne payments digeounted at prevailing market rate of inlerest. Other finaTr¢ial liabilities are Initially measured at fair va]ue net of their transa¢iion costs. They are subsequently easllred at amonised cosi using the effective interest rneth. 1.9 Judgements and key sources of estimat uneertxinty Accounting e5timate5 and judgements are continually evalUad and ate based historical experience and other factors, including expeetstions of firture events th* are believed to be reasowtable ullder the Cir¢W$t¢c5. The followin> judgements (apart from those involving esiimates) have been made in the pr(Kess of applying the above accounting policies that have had the most significani effeci on amounts r¢cogThised in the financial statements.. Useful eronomic lives of taneible ass¢ts The annual depreciation charge for tangible assets is sensitive to Changes in the estimated useful economic lives and residual values of the as5tts. The useful economic lives and residual valu¢s are re-assessed annually. They amended when necessary to reflect current e5titnate¥ b&sed on iechnological advancemen¢ future investments, e¢onomi¢ utilisation and the physical condilioTt of th¢ assets. See noie S for th¢ carying amouni of the property plant and quiptnent and note E.3 for the useful e¢onoTnif liw¢s for each cl&8s of assc There are no key assurnptions con¢erning the future and other key sources of estimation uncertainty at the reporting date that have a signifi¢ant risk of cau5in8 a rnaterial adjustsn¢nt the canying amounts of assets and liabilitie5 within the next rinaTscial year. 1.10 Going concern The financial sthtements hay£ been pr¢pared on a going conrcrn basis as the trustees believ¢ that no material uncertainties exist. The trustees have considered the level of fvnds held and the expected level of income and expenditure for 12 months from authorisints these financial sthtements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to ¢ontinue as a going concern. Cost of sales 2021 2020 Publications and Souvenirs Refreshtn¢nts Stealn and Beer Christmas Opening 2,050 4,721 449 2,409 3J95 10.166
SITTINGBOURNE AND KEMSLEY LIGHT RAILWAY LIMITED NOTES TO THE FtNANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Page 9 Operating eosts 21121 2020 Commercial Department costs Retatl - Catering EqUipent Retail - Staff Catering Retsil - Sundry Operating- Operdting Manage Operating- Motive Power Operating- Stations l Landscaping Marketing- Leaflefs, P05teT5 etc Marketing-Advertlsing Markrting- PR and Sut]dries 13 405 145 lJ63 4.618 1.438 173 382 308 1,957 275 544 2,539 1,133 195 8.155 Engineering Departmellt Costs Locomotive Engineer Locomotive Re51ordiion Fund5 Carriage and Wagon Engineer Coach 204 R¢storation Fund Pennanent Way Engineer BuildinJo Engineer Utilitie5 Engine¢r 4202 8a88 ,093 720 7J56 1,121 1,711 2,069 6,577 1,815 2,032 1,409 907 24,591 14,809 TOTAL 32,746 22,142 Support costs 2021 2020 Security (inc. Defibrillator Fund Raising) Editor Managing Director/CoEnpany Secretary tkpartments Insurdnce Depreciatiort Bank Charges Curator Educat0 Sundries 1.962 967 389 7,464 2,510 309 2,482 7,015 1,074 {29} 50 13.027 14.518
SITTINGBOURNE AND KEMSLEY LIGHT RAILWAY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Page 10 Tangible Fixed Assets Buildings Rolling Stoek El¢¢trol£ Equipment Plant and EquipmeDt Total COST At l January 2021 DEPRECJATION At l January 2021 Charge for th¢ y¢ar 6,438 14.000 6,453 9.796 36,687 At 31 December 2021 6.440 14,000 6.453 9,796 36,689 NET BOOK VALUE At31 DECEMBER 2021 J2 At 31 DECEMBER 2020 14 Stocks 2021 2020 Publications and Souvenirs Refreshments Christmas Presents 2893 365 140 3.636 272 3J98 3,908 Debtors 2021 2020 Vatue Added T& 6,992 2.479 6,992 Creditors (amounts fliing dlle withits ojke yer) 21121 2020 Independent examiner's fee 1500 1,500 iJoo 1,500
sIINGBouRNE AND KEMSLEY LIGHT RAILWAY LIMITED NOTES TO THE FINANCiAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Pagell StatemeTht of funds- tllrrent year Balance Balance at 31.Dee.21 lJall.21 IDcome Expenditure Transfe Unrestricted fuThd Gen¢ral fulld 75.108 48.106 8536 25.118 Designattd funds SOS Appeal Donations tnc Viaduct Rep8lT5 5.831 5.625 {6J06) 5.150 Locomotive + Coach Restoration Project Sittingl)ourne (DCMS Grant) Sittingboume Security Fence 19,375 7,122 (9.108) 17,389 16,196 2.050 (27.i82) (o) 8.536 1.620 1,620 43.022 15097 (42,796) 8J36 24,159 TOTAL FUNDS 49,674 9005 (91b.9112) 49277 Stuternent of funds- prior year B¥laDce at lJan.20 Balance at 31.DeL20 IDcome Expenditure TraSfer5 Unrestricted fund Genernl fund 24.796 15.792 33.936 6.652 Desi%Rated funds SOS Appeal Donations Knc Viaduct Repaars 1,406 29.405 (24,980) 5,831 Locomotive + Coach Restordtion Project Sittingbourne IDCMS Grallt) Sittingbourne Security Fence 19,504 6,898 (6,577) 19,375 23,850 838 (7,654) {5.160) 16,196 1.620 5.942 26.402 60.991 (44.371) 43.022 TOTAL FUNDS 51.198 76,783 (78J07) 49,674 Designated funds eal fund for viaduct and ma or Te li is Considered PTudent to make provigion primarily formainknance of Milton Regi5 Viaduct which is underthe oversightofa qualified Consulting stCra] Engineer. An ongoing tnaintenan¢c programme for this 10(FF year old strllctyre requires investment of approximately £20,000 everv Iwo years and allocwion of funds requires tnore than one fU1claI period. Fullds can also be used for other major repairs as ton5idered appropriate by the Trustees. LoeotNotive and Coaeh ResiorntitiD Major overhaul of the Railway"s operational eaT locomoll¥es is genernlly requir[ every teD yeaT5 and it is therefore necessary to raise fimds and to mak¢ provision for this work oveT a long peri. P&ss¢Dger C(thche5 also n¢ei1 PeriJ[c major ov¢rbaul. Unrtstrict tDtral fund rhis fund represents the charity's available assets to spettd rharitable activtiies after allowing for a suitable level of reserves.
SITTINGBOURNE AND KEMSLEY LIGHT RAILWAY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Page 12 10. Staff costs and trustee reJDuueration Dllring the petiod no Trustee5received any remuneratioll. benefNs in kin nor had any exlS¢S relbu¢d (to 31112Q021- £nil). All stsff aTe volunteers and therefore staff costs are Nil both for 2021 alld 2020. 11. Company Limited by Guaran¢ee The Charity is limited by guarantee and accordingly has no share capitsl. The liability guaranteed by each trnstee 15 £1. At 31 De¢ember 2021 there were 6 tees. 12. Covid-19 During ihe peritKI and subsequent to the peri(d governments Ewop4 Chin4 the UK and elsewhere have taken unprecedenied measures to suppress the spread of Covid-19. The TTUStees have a$5¢ssed the op¢rational and fioanGial impact on the Charit) in the Trusttts, Annual Rep(Trrt on pLoe l and in the going coneem staternent at note 1.10.