SITTINGBOURNE AND KEMSLEY LIGHT RAILWAY LTD FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Registered Company No.. 01036616 Registered Charity No: 1057079
STrrINGBOURNE AND KEMSLEY LIGHT RAILWAY LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 INDEX Report of the Trustees / Directors Independent Examiner's Report to the TThteeS Statement of Financial A¢tivities Balance Sheet 7-12 Notss to the Financial Statements
SITTINGBOURNE AND KEMSLEY LIGfff RAILWAY L]MITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 Page I The Thistee/Directors submit their report togelher with the unaudited financi81 statements for the year ended 31st DecemLw 2024 ectIV and Aetlvlties The Charity is primarily engag¢d in the advan¢ement of the education of the public by th¢ establishment and preservation of a working narrow-gauge heritsg¢ railway. Aehievements and rformance Donations and grnnts were achieved to supportthe on80ing work on Project SitttD8bourne and to enhance our machine shop equipmmt so that we caD undertake more WOTk in-house to speed up our ovethau]s. A major legacy w&s r¢¢eived during Febrnary and Octob4Y 2024 from the estate of a supporter and totalled £84,203. This was an opportun¢ time as it coincided with the need to conmiission a new boiler for the ovethaul of Melior. This is Dearing COD]pletion An August 2025 and should rekn to KerneY Down shortly for her ongoing overhaul alongside Superb. A$ planned, Phase 12 of tbe Vladuct Conservation PtDgramme funded ond canied out in early 2024. Phase 13 is currently b¢ing defmed and is planned to be Undertaken in early 2026. Leader is prominently located in the entrance hall of the I:1 museum collection in the fornier Hornby works at Margate. She is safely stored alongside her sister, the standard gauge P ¢lass"Pione¢r li", as she safely waits her tiirn for overhaul. The con5tNctlon of Sittingbourne Viadu¢t new platforn and the tidying up of the ststion area and the Booking Office was complel¢d in time for the start of th¢ 2024 Season. 05t Bal ce Sheet Events The volunteers of the railway have ¢onttnued to contribute considerable time andeffort toward5 maintaining ond developing the railway for the benefit and education of the public. Considerable'behind the scenes" work continues to take place to estsblish a Secure future for the raTlway as a key part of the regencration of Sittingbourne and Milton Regis. The future of th¢ railway requires ongoing and active support from our members and any who have not actively participated before are Strongly invited to contsct Officers listed in "The New Bogie" to support the Cbarity and to share ihe enjoyment. Production of"The New Bogie" relies upon members and othcrs to supply materials including articles, photographs and inforn)ation to the Editor. Good relations continue with Swale Borough Council although the further development of Milton Creek County Park is pro8ressin8 very slowly. The upgrading of Milton R¢8is (Asda) Station will be revlewed in the future followin8 a clarifi¢ation of fijrther development of the Country Park. Refurbishmont of Sittingbourne Booking Office was completed b¢fore Easter 2024, together with signific8nt major maintsnance to the Footplate Café and Souvenir Shop at Kernsley Down. The new Museum was opencd after conversion from Santa'g Grotto but there is still work to be done to complete a historic and infornjative display for our visltors and members. The extra catch up Phose 12 of the via¢Jiict CfJnJRervtlon b•for W• op•rted JXM•z•r 2044. Tn• k>oord has rw¢lvNI ¢oJktlrniatlon thai th¢ nexr Pb&se ¢an be scheduled for the wintsr of 202516 in order that we Can plan accordingly. "Beaf, left us for Quainton Road Musetun in the Spring as a prelimltiary to allow the start of reorganisation of Kemsley Down and "Unique" then joined Nol for a new display of Bowatsr fweless locomotives. We were happy to join DS Smith pl¢ in celebrating the Centenary of Kemsley Paper Mill in July 2024. Melior played an active part in the Celebrations &$, together with Unique. she shared her Centenary with the Mill. Premier operated 'The Bogie" for DS Smith plc guests and retired stsff in conjunction with ¢enttnary guided tours of Kemsley Paper Mill. The Trnstees are confident that we will contiuue to be able to deliver a safe &Trd popular product to enhance our support for the aims and objectives of the Charity. Inancial Revlew The railway has adequate reserves to continue as a going concern until the end of the 2025 operating season and the TTUStee DirectOTS are actively ¢xploriD8 additional fundiug sources to help to deliverplanned developments intendedto smprove our visitors. experiences. Tncome for the year was £187,789, an increase from £101,934 in 2023. Expenditure for the year was £126.676 an in¢rease from £110,925 in 2023 as a result of extra mailltenance works being undertaken to catch up with conservation of Milton Regis Viadtsct tollowing deferral due to Covid together with Project Sittingbourne works. Overall, the charity made a profit of £61.113 against a loss of £8,991 in 202). The net asset position of the cbarity has incre&8cd from £50.143 to £1 11265. See note OJJ the Rwerves poJi¢y below.
SITTINGBOURNE AND KEMSLEY LIG[ RAILWAY LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 Page 2 Resenres Poli¢ The Charity relie5 upon CUettradlng iucome forthe fvlfilmentofits objk*ive& Certain historic reserves are identified in the financial 5tatemellts. There are no restsirtiolls upon the use of fid$ in furth¢rance of the CbarAty'S aims. Unrestricted fidS at the ye8r-end amounted to £19.333 {2023 - £26.544) Designated funds at th¢ year-end amounted to £91.932 (2023 - £23.608) as set (t in note 9. Total ndS as at 31 December 2023 were £111265 (2023- £50,152). oi The investment in key proje during 2023 and i)ll into 2024 has given the TNstees ¢onfidence that the investment will protect the Charity as a going concern as described itt th¢ Post Balance Sheet Events above. The Trustee$ ar¢ satisfied that these accounts are Correctly prepared on a golag Concern basis. Future P ri The Trustees and the Charity are committed to the ¢ontinuin8 preservation and presentation to the public of the fonner Bowater's narrow-gauge industrial railway. Frnm reference to the section "Going Concem" above it will be understood that the Trustees are developing long tenn plans at thi8 time and a presentstion will be given at the end of this Mecting. Str ctu Constitutlon Th¢ Company was registered as a Charity on 25th July 1996. The Charity is a Company Limited by Guarnntee and is re8lSter¢d by its Memorandurn and Articles of Association. en Trust¢e DAr¢ctors and theAr appofntment The Charity is limited by guarantee and has no Share C2Pital. Each Tru8tee 1$ liable to contribute a suin not exceeding £1 in the event of the Charity being wound up while they are members, or within one year of Cessation of being a member. It is managed by a Bokrd of Trustee Director& Two are appointed by virtue of their office (Finance Manager and Managing DiTeclor) and the remainder are elected in rotation in accordance with the Charity's Articles of Association. There no employees. the CbarAty being operated entirely by volunteers. At the Annual Genernl Meeting held on Saturday 16th August 2025. Paul Vincent Best reSi¢d in accordance with Clauses 30 and 31 of the Charity's Articles of Association and was re-elected. Triistee indijetion and trglnln8 Most Trustees have already been familiar with thè Charity throu8h hdvia6 avry volunte¢rs or servlce In tha local conununity. New TnteeS are briefed on tbew legal obligations urAder charity and company law, the content of the Memor4ndurn and Articles of Association, the Board and decision-making processe5. recent financial p¢rfomiance eud futurn plans. Trustee DlrectorB and thelr Interests No contrart exists with a Company in which a Trustee Director or their immediats family b&8 an interest. Rtsk management The current and anticipated risks to the Charity are reviewed by Trustecs at their regujar meetiDg5. The Charity is subject to especial risks due to the nat of its railway operations aod Consideratioll ofth¢se risks is aided by active Djembership of the Heritage Railway AssocÉation and regulatory bodies.
SITTINGBOURNE AND KEMSLEY LIGHT RAILWAY LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEKBER 2024 Page 3 Referenee and Admlnl$ Com istered number tsi 01036616 istered cherk J057079 tered o 51 Russell Drive Whitstable Kent CT5 2RG ent Examine P. Haining E4.. FCA, KSDg8 Mill Practice Natwest pl¢ Sittitigbourne Kent MEIO 4EQ tee The Trustee Directors of the Charity during the period and thereafter are as follows.. Elerted Trustees Paul vInnt Best Paul Andrew Williams Elizabeth Margaret Full¢r Daniel Colin Mor¢y Shaw Truste¢s by virtue of Office Finance Manager John Reginald Full¢r M8naging Dtrector VawACy The eomwy S¢cretary of the Charity during the period and thereafter is Nicholas Guy Widdows. T stees, R Iltl 5 Relatlon to the Financi tatemen The Trustees (who are also directors of Sittingbourne and K¢msley Light Railway Limited for the purpose of company law) are Tesponsible for preparing the Truste¢s' report and the financial stat¢ments In accordance with applicable law and United Kingdom , Accounting Standards (United Kingdom Generalty A¢cepted Ac¢ountiDg PTaclice). Company law requires th¢ Trustee Directors to prepare financial statements for each fmancial year. Under company law the TrustcelDirectors must not approve the fll)ancial $tat¢ments Unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resouwes and appltcation of resources, including the income and expenditure, ot the ¢haritable company for that period. In preparin8 these financial ststements, the TNstees are required to: •èl¢¢t ouiiublo a¢¢ounlins poliri¢J wid apply Ujriii wn3lswiitly> observe the methods and principles of the Charlties SORP 2015. make judg¢m¢nts and COUntIng estimates that are reasonable and prudent prepar¢ the financial statements on a going ¢on¢ern basis unless it is inappropriats to pre8UEne that the charity will Continue in operation. The Trustees are responsible for keeping ad4uate atcounting records that are sufficientto show and explain the charitsble company's transactions and disclose with re&sonabl¢ accuracy at any time the fjnaDcial position of the cheritable company and enable them to ensure that the fmancial ststements comply with the Companies Act 2006. They are also SpOnsible for safeguarding the assets of the charitable co]np8ny and hence for taking reasonable Steps for the prevention and det¢ction of fraud and other ikTegularitie lil preparing this reporL the Tntstees have tak¢n advantage of the small companies exemptions Provided by se¢tion 415A of the Companies Act 2006. This report was approved by the TTree3 on 13 Septsmber 2025 and signed on their behalf by: N C Widdows Company Secretary
. REPORT OF THE IIYDEPEIYDENT EXATrtINER TO THE TRUSTEES OF 11 SITTINGBOURNE AND KEMSLEY LIGHT RAILWAY LTrIITED FOR THE YEAR ENDED 31st DECEMBER 2024 Page 4 I report on the financial statements ofthe charitable con)pany for the year ended 3 1st December 2024. This report is made solely to the charity's trustees, &8 a body, in accordanc¢ with section 145 of the ChaTities Act 2011 and regulations made under section 154 of that A¢L My work has been undertaken so that I migbt stste to the charity's trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent perniitted by law. I do not accept or assume responsibility to anyone otherthan the charity and the charity's trnstc¢s as a body. for my work. for this report or for the opinions I have forn]¢ RESPECTIVE RESPONSIBILTTIES OF TRUSTEES AND EXAMtNER The charity's tnistees (who are also the directors of the ¢ompany for the purposes of comp8ny law). are responsible for the preparation of fmancial statements. The tntee$ consider that an audit is not required for this year under section 144 (2) of the Charities Act 2011 (the ?01 l AcV} and that an independent examination is needed. Having satisfied myself that the charity is not subject to audit Under company law and is eligible for independent examination. it is my responsibility: to examine the flljancial statements under section 145 of the 2011 Act. to follow the procedures laid down ID the General Directions given by the Charity Commission under section 145 (5) (b) of the 2011 Act. and to state where particular matters have come to my attention. BASIS OF INDEPENDENT EXAMINER'S REPORT My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination in¢ludes a review of the accounting records kept by the charity and a comparisoll of the financial statements presented with those records. It a150 includes consideration of any unusual items or disclosures In the financial statements and seeking explanations from you as trustees con¢erning any such matters. The procedures undertaken do not provide all th¢ evidence that would be required in an audit, and consequently no opinion is given as to whether the financial statements present a True and fairf view and the report is limited to those matters set out in the statement below. INDEPENDENT EXAMINER'S STATEMENT tn connection with my examination, no matter has come to my attention: (a) which gives me reasonable cause to believe that in any material r¢spect the requirements . - to keep accounting records in ac¢ordan¢e with section 386 of the Companies Act 2006: and - to prepare fmancial statements whi¢h accord with the accounting records and to compIy with the accounting requirements of section 396 of the Companie5 Act 2006 and with methods and principles of the Statement of Recommended Practic¢ Accounting and Reporting by Charities have not been met, or (b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of th¢ fllwicial ststements to be reached. PETER HAING Pet¢r Haining FCA The Kings Mill Practice. Chartered Accountants Horns Lodge Meres Lane Cross- in-Hand Heathfield East Sussex TN21 OTY Date . Ib September 2025
SITTINGBOURNE AND KEMSLEY LIGHT RAILWAY L]MITED STATEMEiYf OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER2024 Page 5 Designated Unrestrkted 2023 Note INCOME FROM: aritsble activities Members, Subscriptions General donations (inc. Covid Grdnts) Designated Fund WJ)come: Legacy 2024 IA¥comotlve Restoration ETJgineering Equipztk¢llt Museum Fund SOS Appeal donations (inc. Viaduct) Project Sittingbourne (Phase 3) 4417 &498 4A17 8,498 4,879 3.530 84203 3,328 3,575 2,062 2,000 18,712 1085 9,812 3,782 1,874 4,834 6,160 2,062 2,000 1&712 Ti¢ketsl Special Trnins Publications and Souvenirs Refreshments Steam and Beer Events (Net) Christmas Op¢nKng en Bank interest received 33,176 6,742 14399 331 5a95 33,176 6,742 14J99 331 SJ95 35.678 5,919 16,031 2,286 7.139 582 582 10 Sundry Total 369 75,294 369 187,789 112.495 101.934 EXPENDITURE ON: Cost of Sales Operating Costs (Comm. + Eng.) SOS Appeal Expenditure (inc Viaduct) Sittingbourne Security Project Sittingbourne Suppon costs Independent examiner5 fee 14,046 29,336 14,046 56,139 21J15 15,805 48,397 17,535 26.803 21 J15 15J68 15a68 17,808 2,000 12,647 15.111 1,430 17W8 2,00(1 Total 126 676 110925 Net Movem¢nt In Fuods 49,009 12,104 61,113 (8,991) Transfers 19JlS (19J15) RECONCILIATION OF FUNDS: Total fifftd5 brought forward Totsl funds farrled fonvard 91.932 19J33 111,265 50,152 All transactions are derived from ¢ontinuing activitie& All recognised gains and108s¢s included in the stot¢tnent of financial a¢tiviti¢s.
SIThINGBOURNE AND KEMSLEY LIGHT RAILWAY LJMITED (Registered Number 01036616) BALANCE SHEET AS AT 31 DECEMBER 2024 Page 6 Nots 2024 2023 FIKED ASSETS Tangible Assets CURRENT ASSETS Stocks Debtors S004 1ffj91 4,039 729 Loan to SKLR Heritage (RepayabEe iu more than l year) Cash in hand and in bank 1,000 105,562 113357 51,743 CREDITORS (amounts due within one year) 8 NET CURREwf ASSETS Iii 57 50,143 TOTAL ASSETS less CURRENT LIABILITIES iii UNREsTcTED CHARITY fuNDS Designat¢d Futtds General Funds 91.932 19 23,608 TOTAL FUNDS JlJ.265 The company's fmaneial statements have been prepared in accordance with the special prnvisions applicable to companies subject to the Small companies regime of the Companies Act 2006. The Trustees consider that the ¢ompany is entitled to exemption from the requirement to have en audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not requir the company to obtain an audit for the yw in question in accordance with section 476 of the Act. The Trn5tees acknowledge their responsJl)ility for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of the fman¢Aal statements. The fman¢ial statements were approved and authOriS for issue by the Trustees on 13 September 2025 and signed on their behalf by., ¢v.QL PA Wllllams Thistee Director Trustee Director The accompanying notes forni an integral part ofthese financial statements.
SITTINGBOURNE AND KEMSLEY LIGHT RAILWAY LIMITED NOTES TO THE FINANCIAL STATEMENrs FOR TItE YEAR KNDED 31 DECEMBER 2024 Page 7 A¢counthig Polleks 1.1 BASIS of AccountlDg Sittingbourne and Kemslry Light Railway Limited is a company limited by guaTantee in the United Kingdom. In the event of the cbarity being wound up, the liability in respert of the guarantee is limited to £1 per member of the charity. The address of the registered officc is given in the charity inforn)ation on page 3 of tbese finartc1 5tatsments. The natlre of the charity's operations and principal activihes are set out on page l. The chartty constitutes a public ben¢fit entity as defined by FRS 102. The fmancial statements bav¢ been prepared in accordance with Accounting 2nd Reporting by Charlties: Ststement of Recornmended Practice applicable to charities preporing their accounts in accordance with the Financia] Reporting Standard applicable in the UK (FRS 102), the Finallcial Reporting Standard applicable in the United Kingdom (FRS 1021 th¢ Charities Act 2011, UK GeneTally A¢cepted Pradice as it applies from l January 2015 and the Charity SORP (FRS102) am¢nded for Update Bulletin l. Tho financial statements are pr¢pared on a going concern basis under the hfistorical cost convention, modified to include certain items ai fair value. The financial ststements ar¢ prepared in sterlin8 which is the fimctional oU¢ll¢Y of the ¢barity. The significant accounting policies applied in the preparation of these financial statements are set out below. Th¢se policies have been consistently applied to all years presented unl¢$s otherwis¢ sta* Th¢ presentation and functional CLureDCy are in British £ and have been rounded to the nearest £. 1.2 Fund 8¢eountlng General funds ar¢ unrestricted funds which are avallable for use at the discretion of the Thstees in furtherance of the general objectives of the company and which bave not been designated for other purpose& Designated funds comprise unrestricted funds that have Iwi 3et aside by the Tstee5 for particular purposes. The aim and use of each designated fimd is set out in note5 to the financial statements. IJ Tanglble fixed 2$5¢ts and depreelatlon Tangible ed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the ¢ost of fjxed assets, less their estimated residual valu4 over their ¢xpe¢tsd useful lives on the followtng bases: Buildings 20% on written down value Rolling Stock 20% on cost Sundry Plant and Equipment 7.5Vo on Cost 20% on ¢oot F.l•ctronic Equipment 1.4 1neom¢ All income included in the Statement of Financial Activities when the company is legally entitled to the iDcome and the amount can be quantified with reasonable accuracy. 1.5 Expenditure All expenditure is accounted for on an accruals bgsis and has been included under expense categories. Support costs are those costs incuryed directty in support of expenditure on th¢ objects of the charity. Governaoce cogts are thos¢ incutted wilh admillistratioll of the charity and mplianCe with constitutional aDd ststutory requirements. Costs of rnising funds are costs incurred in attracting volulltary incom4 and those incutt¢d in trading activitles that Taise nds. Charitable activities and Governance costs are costs inCued on the cornpanys operation4 includiTrg support ¢05ts and costs relating to the governance of the Company apportioned to charitable activities. 1.6 StoclL4 Stocks are valued Jt the lower of cost and nel realisabl¢ value after making du¢ allowaDce for obsolete and slow-moving stocks.
srrTINGBOURNE AND KEMSLEY LIGET RAILWAY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Page 8 1.7 Debtors Trad¢ and other debtors ar¢ measur¢d at transaction price less any impainneot unkss the arrangement co]tstitutes t fmancing transaction in whtth case the transaction is rneasud at the present value of the future rxeipts discounted at the prevailing market rate of iuterest . Loans are initially measured at fair value and are subsequently measured at amortised cost using the effective interest method less any impairment. 13 Creditors Trade and other creditors measured at th¢ir traItiOn pri¢¢ Unless the arrangement constitutes a financing transaction in which ¢ase the transartion is measured at present va]ue of future payrnents di5¢0unted at prevailiDg market rnte of interest. Other financial Itabilities are initially measured at fair valu¢ net of their transa¢tion costs. They are subsequcntly measured at amortised cost Using the effe&iv¢ intere method. 1.9 Judgements and key sources of thlmatlon uncertalnty Accounting estimates and judgements are ¢ontinually evaluated and are based on bistorical experien¢e and oth¢r factors, including expectations of future ¢v¢llts that ar¢ believed to be r¢asonable under th¢ ¢ir¢umstance5. The following judgements (apart from those involving estimat¢s) have been made in the pro¢ess of applying thè above &c¢ounting policies that have had the most significant effect on amounts recogDised in the financial statements: Useful economic lives of tangible assets The annual depreciation charge for langible assets is sensitive to changes in the ¢stimated usefiil ewT]omi¢ lives and residual values of the assets. The useful economic lives and residual value5 are re-assessed annually. They are amended when necessary to reflect current estimates. based on technological advancement, futtEre investment4 economic utilisation and the physical condition of the a55ets. See n0 5 for the ¢arryin8 amount of the propety plant V4nd equipment #nd note 13 for the use1 ewnomic lives for each cl&8s of assets. rhere arc no key assumptions conceming the future and other key sources of estimation unoertainty at the reporting date that have a significant risk of Causing a material adjustment to the Carrying amounts of assets and liabilities within the next financial year. 1.10 Golng coDeerD The fmancial stsfrments have been prepared on a going concern basis as the trustees believe that no mat¢rial unc¢rtainiies exist. The trustees have considered the lev¢1 of fimds held and the cxp¢cted level of income and expenditure for 12 months from authorising these flllallcial stst¢ments. The budgeted income and expenditure is sufficient with the level oFreserves for the charity to be able to ¢ontinue as a going concern. Cost of sales 2024 2023 TrknblitiOlls and Souveni Rofreshments 1733 &178 4.162 7.821 Christmas Opening
SITTINGBOURNE AND KEMSLEY LIGwf RAILWAY LtN(rrED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAREM)ED 31 DECEMBER2024 Page 9 3. Operatlng costs 2024 2023 Commereial Department costs Retail - Catering Equipment Retail- Staff Catsring Retail . Sundry Operating - Operating Manager Operating- Motive Power Operating- Stetions / Londs¢Aping Marketing- Leaflets, Posters ¢t¢ Marketing- Advertising Marketing- PR and Sundries 237 572 948 495 915 1.200 10.116 1,548 5205 2,138 2,077 1,649 405 250 7J28 20,427 Englneerlng Department Costs Locomotive Engineer Locomotive Restoration Funds (Allocated Funds) Carriage and Wagon ED8iDeer Engineering Equipment (Allocated Funt15) Legacy 2024 (Allocated Funds) Permonent Way Engineer Buildings Engineer Utilities Engincer Signals Engineer 2,889 4,793 3,298 4,064 18,000 13,375 772 1,600 20 1,890 9,147 2.996 965 ,663 1,686 2,587 36 48,811 27.970 TOTAL 56,139 48,397 Support Costs 2024 2023 ScGurity (Tnc. Fir¢PE/1- Aid) Editor Managing Directcflcompany se D¢p8rtments Insurance Depyeciation Bank Clwges Curator Education HOPS softw Ltcence Sundries 1*8¥ 2,152 655 6,844 1,270 9.074 1392 809 498 765 1,186 103 765 17,808 15,111
SITTINGBOURNE AND KEMSLEY LIGHT IL41LWAY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Page 10 T¥Dgible Flxed Assets Bulldings Rolllng Stoek Eleetronk Equlpment Plant and EqulpmeDt Totsl cosr At l ]Uary 2024 DEPRECIATION At l Janiiary 2024 Charge for the year At 31 December 2024 6.443 14,000 6,453 9,796 36,692 6,444 14,000 6,453 9,796 36,693 NET BOOK VALUE At 31 DECEMBER 2024 At 31 DECEMBER 2023 Stock8 2024 2023 Publications and Souvellirs Refroshments Christmas Presents 4,060 391 553 2,657 639 743 Debtors 2024 2023 Value Added TLY 1.691 729 Ih91 729 Creditors (amounts falllng due witbln one year) 2024 2023 Indq)endent examiner'5 fee
SITTINGBOURNE AND KEMSLEY LIGFrr RAILWAY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECKMBER2024 Pagell Statement of fuDds- current year BAlanee at IJ&D24 Balanee at 31J)eG24 Income Expenditure Transfers Ullrestricted fund General fund 75 D¢slgnatsd funds SOS Appeal Donations inc Viaduct Repairs Legacy 2024 Locomotive Restoration 2,000 84203 1.943 18.712 3.575 2,062 (21,315) (18,000) (4.739) (15.368) (4.064) (o) 19J15 66,203 16,121 3,344 2,328 3,936 18.917 Project Sitttngbourne(Pha8¢ 3) Engineering Equipment Museum Fund 2.817 1,874 23.608 l12.495 (63.486) l9,315 91,932 TOTAL FUNDS SO,152 187,789 (126ffj76) 111,265 Balan¢e
t
lJan.23 Statement of fuDd$- prior year Bglonce At 3j.D23 Income ExpeDdlture Traosferl Unrestrl¢ted fund Gencral fund Deslgn8ted fund5 SOS Appeal Donations inc Viaduct Repairs 4.770 4.834 (17,535) 7.931 Locomotive Restoration 18,252 9,812 (9,147) 18,917 Project Sittingbourne(Paase2) Engineerh)g Equipmellt 3.949 6,160 (12.647) 2,538 3.782 (965) 2,817 Museum Fund 1,874 (o) 1.874 26,971 26.462 (40294) 10.469 23.608 TOTAL FUNDS 59,143 107,074 (116.065) 50,152 Desigllated funds Ifundf rvi duct and rre Itis consideredPdelltt0 make provision primarAly for matD*nance of Milton Regis Viaduct which is underthe oversight of a qualified Consulting Structural Engineer. An oDgoillg matnt¢nance programme for this IO0+ year old structure r¢quires investment of approximately £20.000 every two years and allocation of funds reqUIS more than one financial period. Funds can also be used for other major Tepairs as considered appmpriate by the Trustees. otlve and estoratlon Major overhaul of the Railway's operational steam lo¢omotives is generally r¢quired every ten yG4rs and it ts therefor¢ necessary to raise funds and to make Provision forthis work over a long period. Passenger Coaches also need paiodic major overhaul. etttral fund Thi8 fund Tepresents thc Chlty's availabl¢ assets to spend on charithle activities after allowing for a suitable level of reserves.
SITTINGBOURNE AND KEMSLEY LIGHT RAILWAY LIMTTED NOTES TO THE FINANCIAL STATEMEiYrs FOR THE YEAR ENDED 31 DECEMBER 2024 Page 12 10. Staff eosts trustee remunerntlon During the period no Trus*esreceived any remuneration.'bén¢ftts in kin(I norhad any expensesreimbursed (to 31112r2023- £nil). All slaff are volunteers and therefore staff costs are Nil both for 2024 and 2023. 11. Company Llmited by Cuarantse The Charity is limited by guarnntee and accordingly has no share capitsl. The liability guaranteed by each trustee is £1. At 31 December 2024 there were 4 trustees.