SITTINGBOURNE AND KEMSLEY LIGKf RAILWAY LTD FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Registered Company No: 01036616 Registered Charity No: 1057079
SITTINGBOURNE AND KEMSLEY LIGHT RAILWAY LtMITED FINANCIAL STATEMENTS FOR THE YEAR EI¥DED 31 DECEMBER 2023 IriDEX Pa Report of the Trustees l Dbectors tndependent Examiner's Report to the T¢S Statement of Financial Acuvities Balance Sheet 7-12 Notes to the Financial Statements
SITTINGBOURNE AND KEMSLEY LIG RAILWAY LINtrrED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER2023 Page I Th¢ Ttec/DirectOrS sub]nit their report together with the unauditrd financial statcnwits for th¢ year ¢nded 31s1 December 2023 Ob'ectivts and Activities The Charity is PrIarity engag¢d in the advancement of the edtLcatiOD ofthe public by the establisbment and preserv.alion of a wotking narrow-gaoge heritage railway. Achievements and Performance Early in the year an unexpected triumph for our ¢Dgine¢ring team was winning the national HeriTage Railway Association Coiley Award for Steam Locomotive Enginring in recognition of the higb standard of the overlHul and restorauon of Premier to traffic. Winning against stiff competition from larger Tai]ways across the UK was a tribute to our volunteers. Premier returnedto traffic in May 2022. Donations aDd ants were achievedto support the ongoing woJ* oll Project Sitttngbourne aDd to enhance our macbille shop equipment so that we can utthrtake mor¢ work in-house to spetd up our overhauls. A complete renewal of the safety wires along the whole length of the Viaduct was undert8ken well as Ph&8e I l of the Viaduct Conservatton Progran]me. Ib order to catch up with this programme following Covid d¢fen31s the Board were recommended to fijud bringTng forward Phas¢ 12 to be ondertaken J1 aftct the yc&r end and thi5 w&$ ac¢eptrf requirEng a review of our cash flow the year. Leader w&9 with(trawn at the explly of her certificate but heT owneTthip was banded over to the Charity so that we could in due CO[Se undenake her overhaul. Sbordy after the end of the year she w&s re-located under cover in a new mus¢nm at Margate alongside the standard gauge Pioneer It. The fllBt stsge of redevelopmenr of Sittingboume Viaduct new platfomi w&8 cujnpleted in time for trie Christinas Train service aud further work will tske plac6 in Autumn 2024. Post Balance Sheet Events The volunteers of the railway hav¢ continued to contrbL uts considerable time and ¢JTort towards maintaining and developitigthe ratlway for the ben¢fit and education of the public. Considerable "b¢hind the scenes" work continues to tak¢ place to ests1blish & secure fuwr¢ for the railway as a key part of the regeneration of Sittiugbourn¢ and Milton Regis. The future of the railway r¢quires ongoing and active support from our members and any who have not a&Tvely participatsd before are strongly invtted to contact Offi¢¢rs listed in "The New Bogie" to support the Charity and to share the enjoyment. Good relations continue with Swale Borough Council thOugh the furtller development of MiltUD Creek County Parf( is progresslng very slowly. The upgrading of Mtltt)n Regis (Asd&) Station wiIl be reviewed in tbe fitture followillg a clarifitiOn of further development of the County Paik. Refurbishment of Sitiingbourne Booking Office was completed before Easter 2024, together wilh significant rnajor rnaintenance to tbe F(y)tplatt Café and Souvenir Shop at Kebtsley Dowrn. The Dew Museum was open¢d after ¢ODversion from Santa's Grotto. The extra'catcb up" Pbase 12 of the viaduct wnsmration was carried out b¢fore we opened at Easter 2024. The Board has received corthation that the next ph&8e ¢au be sChedlll for th¢ winter of 202516 in order thatwe caD plan accordingty. ear" left us for Quainton Road Museum in the Spring as a preliminary to aIlow the start of reorganisation of Kemsley Dowrt and 'UDiqu¢" then joined Nol for a new display. W¢ w¢re happy to join DS Smith plc in cel¢brating the Centenary of Kemsley Paper Mill ia July. Melior played an active part in the celebrations as. tOther with Unique. she shared her Centenary with the Mill. The Trustees are confident that we will wntinue to be able to deliver a safe and popular prothIot to enhance our support for the abn8 and objectives of th¢ Charity.
SITTINGBOURNE AIYD KEMSLEY LIGHT RAILWAY LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DEcEIBER 2023 Page 2 Financial Revie The railway has adequate r¢serves to continue as a going concern uttti] the end of tbe 2024 operating se&qon and the TnLStee Directors are activety ¢Kploring additional fimding sources to help to deliver plaDned developments intended to improv¢ ourvisitors. experiences. Ill¢0¢ for the y¢aT w&s £107,074, a S]lficant incr¢as¢ from £88.759 in 2022. Exp¢nditiwe for the year was £116,065 an increase from £7S,893 in 2022 &q a reSt of extra maintenance works being undertaken to catth up with conservation of Mihon Regis Viaduct following deferral as a result of Covid together with Prnject Siitingbourne wokn. Overall. the tharity made a Ioss of £8.991 against a profit of £9,866 in 20?2. The net asset position of th¢ charity has decreased from £59,143 to £50,152. Ste note OD the Reserves policy below. Reserves Polic The Clw relies upon awrent trading income forth¢ fulfilment of its objedives. Certain historic teservesgre identified in the financial statemertts. There aTe no restrictiorts llpon thc use of fill)ds tn fitrtherdncc of the Charity's aims. Unrestricted fid5 81 the Y-end arnoullted to £26.544 (2022 - £32,172) Designated funds at the year-end amouiited to £23.608 (2022 - £26.971) as set out in note 9. Total fimds as at 31 December 2D23 were £50,152 (2022- £59.143). Goifj Concern The return to pre-pande]nic revenues by the end 4)f 2022 enabled extra Investment in key projects during 2023 and whilst the result 1.8 recorded in these accoTJnts for 2023. the Trustees are Confident that the investtnent will protect the Charity as a going concern as described in the Post Balance Sheet Èvents above. The Trustees are satisfied that these accounts are WTrectly prepared on a going Concern basis. Plans for Future Periods The TTusiees and the Charity are conunitted to the continutng preservation and PTesentation to the publT¢ of the fornw Bowater's narrow-gauge industrial railway. From Teference to the sethion "Going Concern" aiM)ve it will be und¢rstood that tbe TnJste¢s are developing long tenn plans at this time and a pres¢ntation will be given at the end of this meill¥. Structure GovernaDce and Mana Constitution The Company was registered as a Charity on 25tb July 1996. The Charity is a Company Limited by Guaraitr and is Tegistered ty its Memorandum and Articles of Asso¢iation. ement T.rustee Directors aDd their appointment The Charity is limited by gantce alld h&8 no Share CapitaL Each Tnee is liable to conlnbute a sum not exceeding £1 lli th¢ event of the Charity betng WODnd up while they are members, or withiu QDe year of ¢essation of b¢ing a member. It 15 D]aDaged by a Board of Tnee Direoors. Two are appointed by virtur of their oftice (Finance Manager and Managing Director) and the reD]ainder are elected iJJ rotation in accordance with the Charity's Articles of Associatio There are llo employees; the Charity being oper*ed entirely by volunleers. At the Annua] General Meeting to be beld on Sattwday 17115 August 2024, Mr David John Prfitchard wiu resigtt in accordance with Clauses 30 and 31 of th¢ Charity's knides of Associatiojk and will not offer himself fur re-eJ¢ction. Mr Daniel Shaw w&8 C(FOPtcd to Lbe Board of Directors in June 2024 and will offer himself for election at the AGM. Trustee induction gnd trainlDg Most Trusttes have already beou familiar with the cTity througb having served as volunteers or s¢rvic¢ in the local community. N¢w Trustees are briefed on thetr legal obligations under charity and company law, the contenl of the Memorandum and Articles of Association. the Board and decisio-Making processes. rectt financial perfomiance and fLllure plans. Trustse Directors and their inter£sts No contract ¢xiSts with a Company in which a Trostee I)irector or their immedratè fatllity has all int¢r¢sL Risk management Thc current and anticipated Thsks to the Charity are reviewed by Trustees at their tegular theetings. The Charity 1$ subject to t5pla1 risks (kne to the nature of its railw&y operations and consi¢JeratioD of th¢s¢ risks 15 aided by active membership of the Heritage Railway Association and reguJatory bodi.
SITTINGBOURNE AND KEMSLEY LIGHT RAILWAY LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 Page 3 Referen¢e and Administrative Detsil$ ' tered number 01036616 number 1057079 stered office 51 Russell Drtv¢ Whitstabl¢ Kent CT5 2RG Iod cndent Examtner P. Haining E89., FCA. Kings Mill PractAce Bankers Natwest pl Sittingboume Kent ME104EQ Trustee Directors and Seereta The Tnte¢ Director5 of the Charity dwing the periDd and thereafter aT¢ as follows: EI¢cted Trustees Paul Vincent Best Paul ADdrcw Willtams Daniel lames Ptle (retired 19 August 2023) E]izabeth mar.trat Fuller L)aFid Jobn Ptitchard TTUStees by virtue of Office Finance Manager olm Reginald Fu11er Managing Directot Vacancy The Company Secretary of the Charity dwing the period and thereafter is Nicholas Guy Widdows. Trusttes, Res onsibllities in Relation to the Financial Statejnents The Trustees (who are also directors of Sillingboorne al Kemsley Light Railway Limited for the pUrSe of company law) are responsil)Je for preparing tbe Trustees, report and the anCIal statements in cOrdance with 4)plicable law and United Kingdom AG¢0untitr Siandards (United Kingdom Generauy Accepted Accounting Practice). Company law requires the Tnjstee Directors to prepare finan¢iaJ statements for each finan¢ial year. Under company law the Trllstee/Directors must not approve the finanoial srdtemettts unless they are satisfied that they glve a true and fair view of the state of affairs of the chartiable company and of the ttkcoming resources and application of res0CeS, inclllding the in¢otne and w)Endithre, of the charitabl¢ company for that p¢rio(L In preparlng these financial statements, the Trustees are required to: selert suitable accounting poliries and thej) apply them consistent]y' observe the methods and pyinciples of te Charities SORP 2015. make judgements and accounting estrmates that are re&sonable and pThdont' prepare the financial statements on a going CODcern basis llDless it is inappropriate to presume that the charity win cotitinue iti operation. The Thtee$ are responsible for keeping adequate accountxng records that are sufficlent to show and explalD the clwitsble company°s traDsa¢tions and disclose Witb reasonable accuracy at any time the financial position of the charitable company and enable them to ensurc that th¢ financial stalements roJnply with the Compani¢s Act 2006. They are also responsible lor safeguarding the &8sets of the charitable company and hellce for taking reasonable st¢ps for the prevention and detection of fraud and otheT )egUlarItieS. In preparing tbis r¢porL the Trustees have taken advantage of the small collws exemptiims provided by s¢ction 415A of the Compani¢s Act 2006. This report w&R approved by the Trnxtees i)n 17 Aogust 2024 and signed on thcir behalf by.. Fl C Widdows C(nnpany Secretary
FOR THE YWIENDED 31st DECEMBKR 2023 IxepotlKm thefthkncl WIioy6 of th¢%hè61gbJo th¢ yeay ¢u4ted 31Jt D 11ti8 isJRd¢wloly L¥i a ¢hatiWS a&.a body, kb 8¢ofion,l¥ of the. ChArttiN Art2DII aD&re4nht ade urth ctIo 1:54 of that I¢L My wOts.h48 undertth SD ts I migbt stat6 to tht tknityl thuse. i aj ryutred to.stats. to th¢DJ in this rep 8lld for AD otbet purpos& tiiF qtrnt permitted_ ty law, I do llot a¢cept or assutrtt JFspoNsibllity 10 a)ry.oJwotii¢rtluitho thuty and thcclwiy's tr4stE¢.s ¥alKY, WQJK forthisftoortorforthopibw Ihave ¢hatify% trutst¢£s (who are 8]xo the dire¢toTh ofts Gompany fy thp. pwos of.company I., are rRsoonslbl¢ fosth¢p•" to fp.llow thc proxdur¢s laid dm tb¢ Gtllffjl DireFfjgfy8 gygu by th¢. Ohity comroi und¢raeolion 145 (5J,(b) 2UII AGE . oits in the s¢teiTient belaw. . .olth¢ QompanlqsA¢t2fjQ¢.8lld Qll. vf tlv COmEWlliS Att Y006 Oad hlothods., and pxkn¢ip]es Df the Ststenthnt pf K¢cDJllthOud¢d tTrocli¢y ', H0rn3. LodsA Cro. ID.FtaDd
SITTtNGBOURNE AND KEMSLEY LIGHT RAILWAY LIMrfED STATEIVIENT OF FINANCIAL ACTIvrrtES FOR THE, YEAR ENDED 31 DEcmBER 2023 Page 5 Designated UDrestrlcted 2023 2022 Note ]F4COME FROM: Charitable activities Members, SubscriptiODS General donations (inc. Covid Grattts) Desiwted Fund Income: Locomotive Restoration Engineerin. Ewipment Museum Fund SOS Appeal donatkons (inc. Viaduct) l)roject Sittingbourne (Phase J) Tlrketsl Special Trains Publications Ld SouveDtr$ Refreshments Steam and Beer Events Christmas Opening Investments Ballk interest received Other Sundry Totsl 4,879 3.530 4,879 3.530 6.436 9.812 3,782 1,874 4034 160 9,812 J782 1,874 4,834 0,160 35,678 5,919 J6,031 7,426 7,139 8,500 20 1.750 3.949 32,780 6.589 35,678 5,919 16.03J 7,426 7,139 3,107 6,330 io io 490 88,759 26A62 80,612 107,074 EXPENDITURE ON: acti Cost of Sales Operating Costs (Comm. + Fng.) SOS App¢al Expenditure Cmc Viaduct) Sittingbourne Surity Project Sittingbotuno Support costs tndependent eL4miners fee Steam & Beer Event 15,805 38285 15,805 48JY7 17,535 15,0fv1 42,924 2,130 1,620 10,112 17.535 12,647 12,647 15,IlJ 1,430 S,140 15,111 1,430 5,140 l3,068 1,350 2,737 Totsl 771 116,065 Net Movement in Funds (13,832) 4,841 (91} 9.866 Transfer,8 10,469 (10.469) RECONCILtATIO]W4 OF FUNDS: TotaL fiaS brought forsyard 26971 59,143 Tota] funds carried forward 23,61)8 26.544 50,142 59,143 All ttansactions are derived from Continuing activities. All recognised gains artd losses are included in th¢ statement of fmancia] activitiw.
SITTINGBOURNE AND KEMSLEY LIGHT RAILWAY LIivirrED (Registered Number 01036616) BALANCE SHEET AS AT 31 DECEMBER 2023 Page 6 Nots 2023 2022 FtXED ASSETS Tangible Assets CtIRRENT ASSETS Stocks Debtors 4,039 729 4,017 1,806 Loan to SKLR Heritage (Repayable ID moTe than l yeaT) Casb in ltstkd atid iti ballk 1,000 1,000 45.975 51,743 53.910 60,733 CREDrroRS (amounts du¢ within one year) 1,600 1,600 NET CURJiENT ASSETS 50,143 TOTAL AssEfs less CURRENT LMBLIThES 50,152 59.143 UNRESTIUCTED CHARITY FUNDS Designated Fund8 GeDeral Funds 23,608 26.544 26,971 TOTAL FUNDS 50,152 59.143 The company's fmallcial statements have been prepared in accordance with the speGiaI provisions appIi¢able to ¢on]panies subject to the small compantes regin]e of the Companies Act 2006. The Trustees consider that the cotnpaDy is entitled to exemption from the requireme]It to have an audit wider the provisions of section 477 of the Companics Act ?006 ('*h¢ Act,) and njembers have llot re<uited the Company to obtaiti an audit for the year in question in accordance with section 476 of the Act. The Trustees acknowledge their responsibility for complying with the requirements of the Compani¢s A¢t 2006 with respecl to awounting records and the preparation of the fmancial statements. The financia] statements were 4)woved and aud)orised for issut by the TrnSe$ OD 17 August 2024 and signed on their behalf by: PV Best PA Williams Trustee Director Tr[ Direclor The accompanying notes forni an intcgrdl part of these financial statetnents.
srrTINGBOURNE AND KEMSLEY LIGHT RAILWAY IIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YKAR EI¥DED 31 DECEMBER 2023 Page 7 Aeeountlng Policies 1.1 Basis of Accounting Sittingboume and Kellley Light Railway Limited is a company limited by guarantee in the United Kingdom. In the event of the charTty being wound up, the liability in respect of the guarnitee is limited to £1 per member ofthe charity. The address of the registered offjce is given in the charity infornMtion on page l of these financial statements. Tbe nature of the charity's operations prinripal activities are set out on pagt l. Thc charity constitutes a public benefit entity as d¢fined by FRS 102. The fmancial stat¢rnents have been prepared in accordance with Accountino and ReportiDg by Chariti¢s: Statetnent of Recommended Practice applicable to ¢harities preparing their accounts in accordance with the Financial Reporting Standard applicable in th¢ UK (FRS 102), the Financial Reporting Standard applicable in the United Kingdom (FRS 102), the Charities Act 201 I, UK Generally AcGepted PraGtice as it applies from l Jattuary 2015 and the Charity SORP (FRSI 02) am¢nded for Update Bulletin l. Th¢ Faljc]aI statements are prepared on a going concern basis under the historical cost Gontretttion, modified to in¢lude ¢¢rtain itsn]s at fair value. The frn¢ial statements are prepdred in st¢rlillg which is the functional ¢llencY of the chan'ty. The SifiCaTlt accounting policies applied in the pryaration of these financial StateD are set out below. These policies have been ¢onsiStentLy applied to all years presented unless othenvise stated. The pr¢5elltation and fijnctiollal GuencY are iti British £ and have been rowmled to the nearest £. 1.2 Fund accoulltiDg General fimds are unr¢stricted flaS which are avatlable for use at the discretion of the Trustees in furtherdnce of the general obje¢tiv&8 of the company and which have not been d¢signated for other pury)oses. Desigllated funds ¢ompri.8e urCted fEittds that have be¢n set aside by the TnteeS for particular purposes. The aim and use of each designated fund is set out in notes to the fman¢ia] stateEneDts. IJ Tallglble fixed assets and depreciatlon Tangibl¢ fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fix¢d assets, less their estimated residual value, over their expect¢d ustful tives on the following b&ses.' BuildiDgs Rolling StDGk Sundry Plant and Equipthettt Electronic Equipment 200/0 on written down vue 20 /0 on cost 7.50/0 on cost 200/0 on cost 1.4 All inoorne included in the Ststtm¢nt of Finall¢ial Activities when the wmpany is legally entitled to the income and the mount can be quantified with reasonable accLW. 1.5 Exp¢udlture AU expenditur¢ is account¢d for on an accrnals b&sis and has been iticluded under expen&e categories. Support costs are tbose costs inCuff dtrectfy in support of exp¢ndittwe OD th¢ objeGts of th¢ charity. Governance tosts are those iticund with administration of the ¢tiarity and compliance with constitudottsl and statutory requients. Costs of raising thnds are costs in¢urrcd in attracting voluntary income, and tbose Incued in trading activities that rnlse fimds. Charitable activities and Governance costs are ¢osts incurred on the companjrfs opemions, including swjport costs and osts relating to the governance of the ¢ornpany apportioned to chitable a1VitieS. 1.6 Stocks Stocks are valued at the lower of cost and nctrealisabl¢ value after niaking due allowance for obsolete and slow-moving s¢oGks.
SITTINGBOURNE AND KEMSLEY LIGHT RAtLWAY LMTED NOTES TO THE FINANCIAL STATEME1s FOR THE YKAR ENDED 31 DECEMBER 2023 Pag¢ 8 1.7 Debtors Trade and other debtors are me8sured at transaction pri less any iDJpairment un]ess the arrangemeni constitutes a finallGing transaction in wbiGh ¢ase the ttansact&on 18 measured at the present vatue of the fiLtur¢ Teceipts discounted at the prevailing market rate of interest . Loalls are iDitially measured at fair value and are sUbsu1]Y measured at amortised cost usitig the effective interesl method less any impairmenL 1.8 Creditors Trdde ana other" creditors are meaSUTed at their transaction price unless the affangem¢nt constitutes a financing transaction ill svhich cas¢ th¢ trsactiOn is measured at present value of tre payments discounttd at pr¢vai]ing market rate of terest. Other fmaacial liabilities are initially measured at fatr value net of their transadion costs. They pre subseLTuently rneasuted at ainortised c05t using the effective inter¢sl methl I S Jtsdgements 2nd key 80urce8 of estiln8tion uncertginty Accounting estimatts andiudgements are continually evaluated and are b&8ed on historical experience and other factors, Including exp¢Gtations of futwe events that are believ¢d to b¢ re&8onable nnder the circumstances. The following judgements (apart from those involving estilltes) have been made in the process of applying the above accouniing policies that have had the most sIficallt effect on amounts recognised in the fllmncial statements". Useful economic lives of tan1)le asseTS The annual depr¢ciatlOD charge for igible assets is sensitive io changes in the estimated usefill economic lives and residual Yalues of the assets. Th¢ usethl economic lives and residual values are re-assessed annually. They are amended when n¢c¢ss8ry to reflect current ¢stimatss, based on technol0Cal adv8ncemenL future iDV¢Stments, economic uiilisation and the physical condition of the ass¢ts. S¢¢ Dote 5 for the carrying atnount of the property pIant ond equipment and Dote 1,3 for the useful economtc lives for each class of a&%ets. There are DO key a55umptions concerninu tbe thture and other key sources of estimation uft¢¢rtainty the reporting datc that have a sigDificaDt risk of causing a material adjustment to th¢ carrying amounts of aSts alld liabilities withiu the next fmancial year. 1.10 Going concern The finkllcial stateEftents have b.een prepared OD a going concern b&¥is &8 th.e trustees believe that no ryLat¢rial tJnc6rtainties exist. The trusÈ¢es have considered the level of funds hejd and the dxpected level of income and expenditure for 12 month5 from authorising tbese financia] statsments. The budgeted income and expenditure is sufficient with the level ofreserves for the charity to be able to continue as a going concern. Cost of sales 2023 2022 Publications and Souvenkrs R¢fr¢sbwents 162 7021 2,752 8.126 christm Opelling 3,822 J5,805 4.186
SITTINGBOURNE AND KKMSLEY LIGHT RAILWAY LIMITED NOTES TO THE FINANCIAL STATEMENrs FOR THE YEAR ENDED 31 DECEIVIBER 2023 Page 9 OperatlDg costs 2023 2022 c.ommercial Department costs Rctail- Catering EqUipnDl Retail - Staff Catering Retail . Sllndty Operdting- Operating Manager Operdting - Motive Power Op¢rating- Stations / Landscaplng Marketing- L¢afiets, Postor8 CtG Marketing- Advertising Marketing- Pll and Sundries 948 495 915 1200 10,116 1,548 5205 590 410 584 1,613 6.014 2,064 2.301 230 20,427 13,806 EnginverAng Department costs Locomotive Engineer Locomotiv¢ Restoration Funds (Allocated Funds) Carriage and. WagoD Engineer Engineering Equipmetst (Allocat¢d Funds) Coach 204 Regtoration Fund (now closed) Pern18nent Way Engineer Buildings Engineer Utiliiies Engineer SigDals Bngineer 1.890 9,147 2,996 965 2.818 7,637 1140 546 9,118 5,461 1384 14 1,686 2J87 36 27970 29,118 TOTAL 48J97 42,4 Support costs 2023 2022 Security (inc. FirelPPEll4t Aid) Editor Managing Dire¢tor/Conip&ny Secretary Departnwits Insurance Dq)re¢iarioA Bank Charges CuTator Education FIOPS Software Licence Sundries 1,841 2.152 655 2,532 80 6,637 1,186 103 1,136 207 765 I64 1,699 15,111 13,068
SITTINGBOURNE AND kTMSLEY LIGHT RAILWAY LIMITED NOTES TO THE FINANCIAL STATElENTs FOR THE YEAR ENDED 31 DEcEIBER 2023 Page IO Tanglble Fixed Assets Buildings Rolling Eleetronie EquipmeDt Plant and Equipment Total COST At l January 2Q23 6.454 DEPRECIATTOIY At l January 2023 Charge for the year At 31 December 2022 6,442 l4,000 6.453 9,796 36,691 6,443 14,000 6.453 9.796 36.692 NET BOOK VALUE At 31 DECEMBER 2023 At 31 DECEMBER 2022 io Stock8 2023 2022 Publicalions and Souvenirs Refreslll]Jents Chrisknas Presents 1657 639 743 3,310 267 440 4.017 Debtors 2023 2022 Value Added Tax 729 1,806 729 1,806 Credltors (WJlDunts fallffing due wlthfin one year) 2023 2022 Independent examiner's fe¢ 1.600 1,600 1,600
srrTINGBOURNE AND KEMSLEY LIGHT RAILWAY LIMITED NOTES TO THE FINANCIAL STATEMEwrs FOR THE YEAR ENDED 31 DECEMBER 2023 Page 11 Statement of funds- ellrrent year Balance Bajanee at 31.Dec23 l.Jan.23 tnCODJe Expenditure Transfers Unrestricted fund Genera] lld 32,172 75,771 10.469 Designated funds SOS Appeal Donations inc Viaduct Repairs 4,770 4.814 (17,535) 7.931 Locomotive Restoration 18,252 3.949 9,8 l2 6.160 3,782 1,874 (9,147) (12,647) (965) (o) 18,917 Project SittiJigbourne(Phase 2) Engineering Equipment Museum Fund 2.538 2,817 1.874 26,971 26.462 {40,294) 10.469 23.608 TOTAL FUNDS $9,143 107,074 (116,065) 50,152 Balance at l.Jall22 ststement of fllDd$- prior year Balance at 31.Dec.22 llloome Eend[thre Transfers Unrestricted fund Oelleral fimd 25.118 74,540 66,960 52 32,172 DesfftgDated fulld$ SOS Appea] Donations inc Viaduct Repa5 5,150 1,750 (2,130) 4,770 LocoJDotive + Coac Restoration Project Sittingbourne(Phase2) (DCMS Grant closed) sittingbol Secwity Fence 8,520 (8.183) 18,252 3.949 (o) (l.620) 3,949 1,620 24,159 14,219 (11,933) 526 26,971 TOTAL FUNDS 49,277 88,759 174893) 59J43 Designated tsnds eal fiind for viaduct and ma orre airs It is considered prndent to nke provision primatily for mailltenance of MiltollR¢gis Viaduct which is under the ovcrsight of a qualified Consultirs(s Structural ErnetT. AD ongoitig maintenance programme for tbis IO0+ year old strllctLe rewircs iDvesmient of approximately £20.000 every two years aud allocatioj) of fimds requires more than on¢ fmancial perio& Funds Gan also be used for other major repairs as considered appropriate by the Trustees. Locomotive and Coach RestOTation Major overhaul of th¢ Railway's operational steam locomotives is generally rewired every ten years and it is therefore necessary to raiRe fimdÈ and to m9Jce Provis f4trthis work ovy # lon8 poiod. Pa06ellgor cOh0O aloo pfjrigdio major OYGrliauJ. Unrestricted eDeTal fund This f(md represents the ch&ity's available assets to spend on charitable activities after allowing for a suitable level of reserves.
SITTINGBOURNE AND KEMSLEY LIGHT RAILWAY LIMITED NOTKS TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2023 Page 12 10. Staff costs and trustee remuneration Duritig the p¢riod no Trustees receiv¢d any r¢mLtneration, b¢fits in kind. nor Iwlany expenses reimbursed (to 3 IJ1212023- £lli]). All stsff are volunteers and therefore staff costs are Nil both for 2023 and 2022. I l. Company Limited by Guaranteè The Charity is limited by guarnitee and accordingly has no share cgpital. The liability guaranteed by each truste2 is £1. At 31 Deceftnber 2023 there were 5 trusfres.