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2025-09-30-accounts

Mid Suffolk Light Railway Company Charitable company limited by guarantee.

Annual Report & Financial Statements Year Ended 30[th] September 2025

Registered Charity No 1063635 Registered Company No 3244631

Brockford Station, Wetheringsett, Stowmarket, IP14 5PW

Mid Suffolk Light Railway Company Annual Report to 30 September 2025

Trustees’ Report and Financial Statements

Contents

Page
Trustees and Administration Information 2
Report from the Chair 3
Trustees’ Annual Report 5
Review of Activities 6
Statement of Public Benefit 10
Review of the Transactions and Financial Position of the Charity 11
Independent Examiner’s Report 12
Statement of Financial Activities 13
Balance Sheet 14
Accounting Policies and Notes to the Accounts
 15

1

Mid Suffolk Light Railway Company Annual Report to 30 September 2025

Mid Suffolk Light Railway Company

Registered Charity No 1063635

Trustees

Ian Meigh Chair David Clayton Secretary Peter Dodd CTA Hon. Treasurer James Debenham Chris Baddeley (Retired 31 May 2025) John Holmes Wayne Wicks Peter Connor Paul Gedney (Appointed 11 October 2025 )

Registered Office Address

Brockford Station, Wetheringsett, Stowmarket, IP14 5PW

Bankers

CAF Bank Limited 25 Kings Hill Avenue Kings Hill, West Malling, Kent ME19 4JQ TSB Bank plc 7 Market Pl, Stowmarket IP14 1DY

Independent Examiner

Rachel Marsh FMAAT AATQB Marsh Accountancy 67 Gardeners Road Debenham Suffolk IP14 6RX

2

Mid Suffolk Light Railway Company Annual Report to 30 September 2025

Report from the Chair

The year 2024/2025 has been a year of consolidating and strengthening the operations of the Mid-Suffolk Light Railway Museum.

The application under the Transport and Works Act 1992 for the proposed Mid-Suffolk Light Railway Order was successful. The Secretary of State granted the Order on 12th March 2025 and it came into force on 02nd April 2025.

The line extension could now be prepared for use and the plans for building the platform started.

An application for a grant of approximately £9,600 from the Mid-Suffolk District Council under the Rural Culture and Creativity Scheme from the U.K. Government was successful. This allowed the purchase of materials to start the construction of the platform, to be called Aspall Halt, at the end of the line extension.

The P.W. Team have been working hard to mix great quantities of concrete for the foundations on the rather inaccessible site. Training for 3 volunteers to drive telehandler forklifts was successful and allowed the easy handling of heavy concrete beams delivered by rail to the site.

The museum display and archive team have put together new and interesting displays in museum buildings and around the site to bring the greater appreciation and understanding of the “Middy” (the local nickname for the Mid-Suffolk Light Railway when it was operating) and its communities that it served.

An application for the re-Accreditation of the Museum has been prepared and applied for from the Arts Council of England. The Award would greatly enhance the work of the Railway and promote the educational side of our mission to our visitors with regard to the history of Suffolk, and the history of Mid-Suffolk Light Railway in particular.

The hosting of the Mendlesham Airfield Association on the museum site has been a successful addition to the history of the railway during the time of the friendly invasion of the Eighth Army Airforce from the U.S.A. in World War 2. The displays and interpretations of the history and impact on the local communities has been enhanced by the enthusiasm of the volunteers manning the displays to talk to the public about this side of history.

Volunteering at the “Middy” has continued to attract people from various backgrounds and with different skill sets. The Middy has been most fortunate to have the expertise of both the younger generation and the retired to keep the railway running. Volunteers are our greatest asset. The car park on a Wednesday is full to capacity with excellent work carried out by individuals and teams all over the site. A volunteers’ day was held to encourage ideas to be put forward to help plan for the future of the railway. It is planned to hold these days at least annually.

3

Mid Suffolk Light Railway Company Annual Report to 30 September 2025

The work of the MTC and the trading by the Middy Bar, shop, model railway sales and cafe continued to help fund the Museum. The Outreach Team continues to visit Model Railway Exhibitions and has made great contributions both financially and through advertising for the Museum.

The Middy has benefitted enormously by having interesting and iconic steam locomotives visit the Middy. John Durrant has been most successful in arranging such visits, including the 135 year old Manning Wardle ‘Sir Berkley’ (built 1891) coming for a steam Gala at Easter.

Training is a fundamental part of the management of the railway. It is an essential provision for volunteers that they have access to good training. It provides additional skill sets for those wanting to take part in running the railway and it enhances health and safety for all those on site. The enjoyment of volunteering is supported by the development of competences by training. This is fully endorsed by the Board of Trustees of the Mid-Suffolk Light Railway Company.

Ian Meigh Chairman

4

Mid Suffolk Light Railway Company Annual Report to 30 September 2025

Trustees’ Annual Report

The Trustees, submit their annual report and the independently examined financial statements for the year ended 30 September 2025.

Structure, Governance and Management.

Governing instrument

The Charity is governed as a Company Limited by Guarantee. The constitution was agreed and registered with the Charity Commission on 29 July 1997. The Charity is governed by its Board of Trustees.

Trustees and Operational Structure

The Trustees of the Charity during the year were as shown on page 2. The Trustees are responsible for the strategic direction, governance and policies of the CIO. The day to day operation of the Charity is delegated to the Management Team.

Governance and Internal Control

Company and Charity law require the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that period. In preparing those financial statements, the Trustees have:

The Trustees have overall responsibility for ensuring that the charity has an appropriate system of controls, financial and otherwise. They are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities and to provide reasonable assurance that:

The systems of internal control are designed to provide reasonable, but not absolute, assurance against material misstatement or loss. They include:

The Trustees are pleased to report that the charity’s internal financial controls, in particular, conform with guidelines issued by the Charity Commission.

5

Mid Suffolk Light Railway Company Annual Report to 30 September 2025

Review of Activities 2024/25

Introduction

The Mid-Suffolk Light Railway Company is a company limited by guarantee managed by a board of trustees elected by its members. Membership is open to all on payment of an annual subscription or as a life member. The company is also a registered educational charity.

The principal objects of the company are defined in its memorandum of association which states:

The company is established to advance the education of the public with regard to a history of Suffolk, and the Mid-Suffolk Light Railway in particular, by collecting, preserving, interpreting and documenting material evidence and associated information by the maintenance of a museum for items of historic railway interest, and by the restoration, maintenance and operation of a demonstration railway and the display and demonstration of railway equipment, operations and engineering crafts and in the furtherance of the foregoing objective the company will be vested with the powers of operation of the Mid-Suffolk Light Railway.

To fulfil these aims the company administers the Mid-Suffolk Light Railway Museum at Brockford Station, Wetheringsett, Stowmarket, Suffolk. The museum site together with just over nine hundred metres of former railway route is currently held on a thirty-year lease signed on the 1[st] November 2012.

The company is a member of the Heritage Railway Association, the Association of Independent Museums, the Association of Suffolk Museums and Community Action Suffolk

Personnel and management

The Board of Trustees met six times during the above period.

At the 31[st] May 2025 Annual General Meeting the following were re-elected, Mr Ian Meigh and Mr David Clayton. Mr Peter Dodd and Mr James Debenham were formally elected having previously been co-opted as members of the board. Mr Christopher Baddeley and Mr John Holmes did not stand for re-election to the board of Trustees.

Following the meeting the Board consisted of 6 trustees.

There was a single resignation from the Board during the reporting period Mr David Bates.

Following the Annual General Meeting the Trustees were: Mr I. Meigh Chairman Mr. D. Clayton Company Secretary Mr Peter Dodd Treasurer. Mr Peter Connor Vice-Chair Mr. J. Debenham Mr W.Wicks

The board continues to complete its short-, medium-, and long-term plans to advance the company objectives. Railway track construction and maintenance, locomotive and rolling stock restoration and maintenance, and the maintenance of the railway buildings continue to be led by project leaders operating to a budget and reporting to the board on a regular basis.

6

Mid Suffolk Light Railway Company Annual Report to 30 September 2025

Membership

Following a review of Membership details numbers had declined to 485. However many members who do renew their membership, often including generous donations with their subscriptions.

The scheme providing local residents, on application, special tickets giving free entry to the museum, except for special events has been restored and will continue to be offered in future now that normal operation can be restored.

Achievements

Due to an administrative anomaly the ‘Middy’ was unable to operate during November and early December 2024. This meant that we had to delay the start of our Santa Specials, however we were still able to put on six days in 2024, the 7[h] , 13[th] , 14[th] , 20[th] , 21st & 22nd of December. Our visiting engine, Swordfish, was able to start its stay with a series of successful Santa Specials and total visitor numbers were maintained. The format was considered an improvement and would be replicated for 2025. Unfortunately, the 1[st] of January Heritage Light festival had to be cancelled when storm force winds were forecast.

The single biggest achievement was the granting of Transport and Works act 1992 order in February 2025 that permitted the ‘Middy’ to operate along the full length of our recently extended track. The newly extended track saw a number of steam locomotives running, ‘Sir Berekeley’ 0-6-0 saddle, for Easter and the official extension opening 1[st] August. As well as Andrew Barclay 0-6-0ST Swordfish which stayed with us for Easter. A second Andrew Barclay 2315 Lady Ingrid (renamed Patrick David) also joined us, with the owner wishing to keep the engine here long term. The boiler overhaul for Y7 985 has been completed and is back onsite awaiting fitting. The diesel locomotives have proved invaluable for shunting and works trains, with the Ruston 165 and Fowler being available.

Members continue to donate towards the cost of renting the industrial unit at Brockford where it provides essential workshop and storage space, enabling restoration work to be carried out under cover. Restoration of the Dray wagon and wheels was completed, and new gradient markers for the extension were completed. The team in the workshop also carried out essential work for other departments, often at short notice. Tools and equipment continue to be acquired, some by donation, to assist with the restoration work.

Carriage & Wagon team fitted a new roof to coach 12 as leaks had developed. Scaffolding was installed around the coach to provide a safe working platform and the old roof material removed and new one laid, all to a tight schedule as it was needed for the Santa specials. Additional maintenance was carried out of all vehicles during the year in accordance with MSLR procedures. Vehicles 12 & 13 were used throughout the year on passenger services, carriage 140 was completely reupholstered following the discovery of mould and was used throughout the Summer season.

The underframe of the Y7 locomotive and our own 1604 have remained inside of the Restoration shed. The boiler has been test fitted to 1604 and the pipe work for Y7 has started to be installed. The Tram 2525 locomotive had reached the end of its 10-year boiler ticket and has been returned to its owner.

A lot of prior planning and preparation was carried out by our PW team, and vice-chair Pete Connor to begin the building of a new platform at Aspall Halt, the new end of the line. Ground-work was completed and concrete beams and blockwork have been put in place. Completion of the new platform has been set for Easter 2026.

7

Mid Suffolk Light Railway Company Annual Report to 30 September 2025

The site at Dovebrook remains a much safer environment with everything in its place and a place for everything. Preliminary planning and preparations have started with a view to having a second siding at Dovebrook and a carriage shed to cover both sidings, which is much needed to protect our Victorian coaches.

The Museum re-accreditation by the Arts Council has started and good progress is being made by our Chairman Mr Ian Meigh and the archive team manager Mr N Bennett. The archivists are continuing to manage the Museum’s collection in conformance with the SPECTRUM standards and have been able to work on improving documentation and procedures, as well as answering numerous queries from researchers. We have set aside space, the old ticket office, for a visiting collection from the Mendlesham Airfield Association 34[th] Bomb Group and they have created an added display attraction for our visitors.

The management structure, with six management committees reporting to the Board, involves more of the volunteers in the operation and scheduled Trustee meetings have occurred on alternate months throughout this reporting period.

The refreshment room, bar and shop were open during the 2024-5 season and are an essential part of our site facilities bring in much needed funds and as important good will from our visitors.

The running of the 100 Plus Club has been taken over by Mr R. Boardman and continues to be supported by the members and has been raising funds for many years.

The 2024-5 maintenance programme has continued including the ever-present battle against the invasion of brambles and weeds, trees, shrubs and bushes that insist on growing on and across the track. We also had to deal with a very large tree branch which came down across the track and a few trees that were deemed unstable had to be removed by contractors

2024-25 saw a continued increase in activity from our outside events team who attended numerous shows in and around Suffolk. Unfortunately, Mr Andrew Seth, a leading member of the team, became unwell and was forced to pull back from his involvement which necessitated a change in how the team operated. They have adjusted very well and have remained an invaluable means of promoting our museum, where we are and what we do. They are also a great source of much needed income and have continued their contribution throughout this period.

‘Middy’ Trading Company

The Middy Trading Company is an incorporated company and maintains its own accounts which MSLR do not receive. However, as its purpose is to raise funds by various means including commercial activities to provide funding support for the Mid-Suffolk Light Railway the Board of Trustees thank them for their continued support and donations. The Santa Specials are formally run by the MTC under licence from the MSLR.

During the reporting period the Middy Trading Company continued to transfer funds to the MidSuffolk Light Railway Company. The Board of Trustees values greatly the vital contribution that the Middy Trading Company makes to the success of the Mid-Suffolk Light Railway Company.

Conclusion

The years 2024/2025 have seen the company expand its operation and move from a museum with a demonstration line to a Railway with a museum and the Board wish to express their gratitude to all of

8

Mid Suffolk Light Railway Company Annual Report to 30 September 2025

our volunteers who worked so hard to make this expansion happen and for their continued efforts in ensure that our visitors have had a great experience whilst with us.

The Santa Specials in December 2024 helped bring in additional sources of income and proved that our volunteers are adaptable and can work collectively to overcome setbacks. It is also clear that the generous donations, membership subscriptions and individual project appeals, have provided essential funding for work on the line extension and enhancement of the Museum. Visitor numbers are improving year on year and with prudent financial management and support from our membership the railway remains financially secure.

The rental of an industrial unit continues to facilitate restoration and storage of artefacts and is a facility that can be expanded upon. The restoration of our steam locomotive, 1604 continues in the Restoration Shed and is progressing well.

Relationship with the local communities remains good and the scheme to provide local residents with free entry have been re-instated, with Friday night bars a great community asset.

The continued progress of the museum is dependent on the support of the members and especially on the active volunteers and the Board again wish to record their thanks. It is also vital for our future development that we attract new members and that more choose to become active volunteers. The planned projects and expansion of events impose a heavy load on the existing volunteers and unless more can be found, particularly those willing to take on the responsible management roles, future expansion of the railway will be difficult. Currently there are around one hundred active volunteers, but more are needed and would be very welcome.

9

Mid Suffolk Light Railway Company Annual Report to 30 September 2025

Reserves Policy

At their meeting on 12[th] April 2025, the Trustees reviewed the charity’s needs for reserves in line with the guidance issued by the Charity Commission and resolved that:

a) That a General Reserve should be established and built up to a level which would finance a reasonable period in which to run down the organisation’s operations in the event of a major loss of funding.

b) That the level of General Reserve should be reviewed in line with this policy on an annual basis.

c) That the Capital Reserve should be maintained to reflect the value of Fixed Assets and reviewed on a regular basis

Approved by the Board of Trustees

Supporting Statement

At their meeting on 12[th] April 2025 the Trustees agreed that a target figure of £20,000 based on a six month winding-down period should be set and maintained.

Statement of Public Benefit

The objectives, and review of achievements and performance sections of this report clearly set out the activities which the Charity undertakes for the public benefit.

The Trustees confirm that they have complied with the duty in section 4 of the Charities Act 2006 to have due regard to the public benefit guidance published by the Commission in determining the activities undertaken by the Charity.

10

Mid Suffolk Light Railway Company Annual Report to 30 September 2025

Review of the transactions and financial position of the charity

The format of the financial statements and accounts is in accordance with the recommendations of the Statement of Recommended Practice for Charity Accounts. Income and expenditure is analysed between restricted and non-restricted funds in the Statement of Financial Activities on page 13 and the balance sheet is included on page 14.

Results for the period

The Income and Expenditure Account shows net deficit on unrestricted funds for the year ended 30 September 2025 of (£14,186) (2023/24 deficit (£32,062) . There is a surplus on all unrestricted funds of £83,971 (2023/24 – £204,269) at 30 September 2025

The restricted funds have also been closely monitored. At the end of the period, the funds are showing a financial deficit due to the fact that expenditure on the underlying activities will be capitalised by increasing Fixed Assets and Capital Reserves when the projects are completed.

.

Financial position at balance sheet date

The Board considers that the charity’s financial position at the balance sheet date is satisfactory.

Degree of financial dependency

As mentioned above, the charity is dependent on the voluntary efforts of its members and volunteers. However, there is no significant degree of dependence on any single member or small group of members in respect of voluntary effort or financial contributions.

Political contributions

The charity made no political contributions during the year.

Independent Examiner

In accordance with the Charities Act 2011, the financial statements have been independently examined by Rachel Marsh FMAAT AATQB .

By Order of the Board

Signed

Date 11th April 2025

Peter Dodd CTA

Hon. Treasurer

11

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Mid Suffolk Light Railway Company Year ended 30th September 2025

Statement of Financial Activities Income and Expenditure Account

Note
Unrestricted
Restricted
Total
2023/24
£
£
£
£
INCOMING RESOURCES
Grant income
12
200
9,622
9,822
-
Charitable activity income
12
42,895
-
42,895
40,817
Donations and legacies
12
57,217
13,154
70,371
64,507
Trading income
13
14,226
-
14,226
3,719
Interest
303
-
303
146
TOTAL INCOMING RESOURCES
114,841
22,776
137,617
109,188
RESOURCES EXPENDED
Expenditure
Fundraising Costs
6,901
-
6,901
6,411
Charitable Activities
12
66,846
40,652
107,498
69,212
Operational costs
12
55,280
-
55,280
65,793
TOTAL RESOURCES EXPENDED
129,027
40,652
169,679
141,417
SURPLUS /(DEFICIT)
(14,186)
(17,876)
(32,062)
(32,228)
Reserves B/F
204,269
(124,086)
80,183
112,412
Transfer to General Reserve
(20,000)
-
(20,000)
Transfer to Capital Reserve
(106,112)
119,869
13,757
-
Balance carried forward
63,971
(22,093)
41,878
80,184		 Note
Unrestricted
Restricted
Total
2023/24
£
£
£
£
INCOMING RESOURCES
Grant income
12
200
9,622
9,822
-
Charitable activity income
12
42,895
-
42,895
40,817
Donations and legacies
12
57,217
13,154
70,371
64,507
Trading income
13
14,226
-
14,226
3,719
Interest
303
-
303
146
TOTAL INCOMING RESOURCES
114,841
22,776
137,617
109,188
RESOURCES EXPENDED
Expenditure
Fundraising Costs
6,901
-
6,901
6,411
Charitable Activities
12
66,846
40,652
107,498
69,212
Operational costs
12
55,280
-
55,280
65,793
TOTAL RESOURCES EXPENDED
129,027
40,652
169,679
141,417
SURPLUS /(DEFICIT)
(14,186)
(17,876)
(32,062)
(32,228)
Reserves B/F
204,269
(124,086)
80,183
112,412
Transfer to General Reserve
(20,000)
-
(20,000)
Transfer to Capital Reserve
(106,112)
119,869
13,757
-
Balance carried forward
63,971
(22,093)
41,878
80,184		 Note
Unrestricted
Restricted
Total
2023/24
£
£
£
£
INCOMING RESOURCES
Grant income
12
200
9,622
9,822
-
Charitable activity income
12
42,895
-
42,895
40,817
Donations and legacies
12
57,217
13,154
70,371
64,507
Trading income
13
14,226
-
14,226
3,719
Interest
303
-
303
146
TOTAL INCOMING RESOURCES
114,841
22,776
137,617
109,188
RESOURCES EXPENDED
Expenditure
Fundraising Costs
6,901
-
6,901
6,411
Charitable Activities
12
66,846
40,652
107,498
69,212
Operational costs
12
55,280
-
55,280
65,793
TOTAL RESOURCES EXPENDED
129,027
40,652
169,679
141,417
SURPLUS /(DEFICIT)
(14,186)
(17,876)
(32,062)
(32,228)
Reserves B/F
204,269
(124,086)
80,183
112,412
Transfer to General Reserve
(20,000)
-
(20,000)
Transfer to Capital Reserve
(106,112)
119,869
13,757
-
Balance carried forward
63,971
(22,093)
41,878
80,184
129,027
40,652
169,679
141,417
(14,186)
(17,876)
(32,062)
(32,228)
204,269
(124,086)
80,183
112,412
(20,000)
-
(20,000)
(106,112)
119,869
13,757
-
63,971
(22,093)
41,878		 80,184

13

Mid Suffolk Light Railway Company Balance Sheet as at 30th September 2025

Note
FIXED ASSETS
Buildings
4
Track and rolling stock
4
Tools and equipment
4
Heritage assets
4
Tangible Fixed Assets
Current Assets
Bank and Cash
CAF current account
CAF dpeosit account
TSB current account
Float
Cash at bank and in hand
Debtors
Debtors
5
Current Assets
Current Liabilities
Creditors
6
Current liabilities
Net Current Assets
FUNDS
Capital Reserve
General Reserve
Unrestricted Funds
Restricted Funds		 30 September 2025
126,615
111,436
1,336
89
239,476
22,681
30,184
208
79
53,152
17,880
17,880
71,032
9,154
9,154
61,878
301,354
239,476
20,000
63,971
(22,094)
301,353		 30 September 2024
129,834
3,350
1,782
105
135,071
79,415
5,772
56
85,242
3,918
3,918
89,160
11,283
11,283
77,877
212,948
132,765
204,269
(124,086)
212,948

At the end of the period, restricted funds which show a surplus balance are due to the fact that income has been received in advance of expenditure on the projects' activities which will be made in future periods. Where a restricted fund shows a deficit, the deficit will be capitalised on completion of the project in accordance with note 1(d)

These financial statements were approved by the Board of Trustees at the Board meeting on 11th April 2026

Signed:-

14

Mid Suffolk Light Railway Company Year ended 30th September 2025

Notes to the Financial Statements Year ended 30th September 2025

Note 1 Basis of Accounting

The financial statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014

a) V Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Volunteer time is not included in the financial statements

b) G Grants are recognised in full in the statement of financial activities in the year in which they are receivable. Resources expended are recognised in the period in which they are incurred.

The depreciation rates in use are as follows:

Buildings 2% straight line on cost Track and rolling stock 10% on reducing balance Tools and equipment 25% on reducing balance Heritage Assets 15% on reducing balance

Assets with a purchase price of less than £100 are written off in the year of purchase

d) Restricted funds are to be used for specific purposes as laid down by the donor.

Grants and donations received in respect of capital expenditure are allocated against that capital cost. Grants in respect of revenue are shown as income in the Income and Expenditure account. When the projects are completed the costs are capitalised by increasing Fixed Assets and Capital Reserves

e) Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the Trust

.

.
Note 2 2025 2024
Surplus £ £
The surplus is stated after charging: 16,063 2,595
Depreciation - owned Assets
Note 3

Taxation

There is no liabilty to UK corporation tax on ordinary activities due to the charitable status of the company

Note 4

Fixed Assets
COST
At 30 September 2024
Additions
Disposals
At 30 September 2025
DEPRECIATION
At 30 September 2024
Charge for year
Written back on disposals
At 30 September 2025
NET BOOK VALUES
At 30 September 2025
At 30 September 2024		 Buildings
Track and
rolling stock
Tools and
Equipment
Heritage
Assets
Total
£
£
£
£
£
160,973
28,912
13,878
3,097
206,860
-
120,468
-
-
120,468
-
-
-
-
-
160973
149380
13878
3097
327328
31,139
25,562
12,096
2,992
71,789
3,219
12,382
446
16
16,063
34,358
37,944
12,542
3,008
87,852
126,615
111,436
1,336
89
239,476
129,834
3,350
1,782
105
135,071

15

Mid Suffolk Light Railway Company Year ended 30th September 2025

Note 5

Debtors: amounts falling due within one year
Value Added Tax
Accounnts receivable
Debtors and prepayments
Note 6
Creditors: amounts falling due within one year
Trade Creditors
100 Club
Accruals
Income in advance
Digger Fund
Total creditors
Note 7
Capital Reserve
At 30 September 2024
Movement in year
At 30 September 2025		 2025
£
190
3,010
14,680		 2024
£
2,494
1,424
-
17,880 3,918
2025
£
3,214
1,642
98
4,200
-		 2024
£
9,476
767
-
-
1,040
9,154 11,283
2025
£
132,765
106,711
239,476		 2024
£
132,765
-
132,765

Note 8

Liability of Members

The company is a company limited by guarantee. At the date of these accounts there are 485 member (2024 - 504) whose liability is limited to £1 each.

Note 9

Restricted Funds

At 30 September 2024
Grants
Donations
Expenditure
Transfer to Fixed Assets on completion
At 30 September 2025		 Restoration
Shed
1604 - Alston
Line Extension
Aspall Halt
Dovebrook
Carriage
Shed
Total
£
£
£
£
£
968
(16,816)
(108,238)
(124,086)
9,622
9,622
-
1,330.00
600
7,730
3,494
13,154
(968)
(1,315)
(21,853)
(16,517)
(40,653)
-
119,869
119,869
-
0
(16,801)
(0)
(8,787)
3,494
(22,094)

Funds for building the restoration shed with assistance from donations and grants. Funds for the restoration of Engine 1604 - Alston Funds for the reinstating of permanent way

Note 10

Related Party Transactions

During the year the Company received donations of £44,270 (2024- £46,808) from the Middy Trading Company Limited which trades alongside this Company and whose objects are to support this Company. The

Mid-Suffolk Light Railway Company is reliant upon these donations to continue as a going concern.

Note 11

General Information

Mid-Suffolk Light Railway Company is a private company limited by guarantee of £1 per member and is incorporated in England. Its registered office is Brockford Station, Wetheringsett, Stowmarket,

The financial statements are presented in Sterling (GBP) which is the functional currency of the Company.

16

Mid Suffolk Light Railway Company Year ended 30th September 2025

Note 12

Income and Expenditure - Unrestricted

Note 13

INCOME
Subscriptions
Ticket Sales
Donations - MTC
- Outside events
- Others
Gift aid tax recoveries
Legacies
Grants and awards
Recycling credits
Driver experience
Outside events sales
Other sales and hiring
Interest
Total Income
LESS: CHARITABLE ACTIVITIES
Newsletter costs
Membership (postage etc)
Locomotive
Carriage and Wagon
Permanent way
Buildings and operations
Non - loco event costs
Outside events costs
Archive
Display
Health and safety
GROSS SURPLUS for the year
LESS: OPERATIONAL COSTS
Works rent
Cleaning
Utilities
Advertising and public relations
Office
Insurances
Legal and professional fees
General expenses
Bank charges
Unrecovered VAT
Depreciation
Total operative costs
NET SURPLUS / (DEFICIT) for the year
Trading Income
Outside events
Outside events expenses		 2025
£
5,651
5,457
-
35,474
32,794
-
44,270
46,808
-
660
5,384
8,846
-
4,125
2,463
-
2,777
-
200
-
353
542
2,306
-
14,226
259
-
876
146
-
303
114,841
99,079
-
2,058
-
1,575
-
22,484
-
9,173
-
4,233
-
15,789
-
4,477
-
4,339
198
-
224
-
2,296
-		 2024
£
5,457
-
32,794
-
46,808
-
-
8,846
-
2,463
-
-
-
-
-
259
-
2,306
-
18,155
17,896
2,306
2,160
146
-
117,234
18,155
2,071
1,703
27,997
7,267
2,893
12,171
6,880
14,436
406
97
1,489
77,411
36,400
6,504
1,559
9,296
4,332
2,079
8,714
34,541
2,053
236
-
2,595
71,909
(32,086)
18,155
(14,436)
3,719
66,846
47,995
99,079
-
6,504
1,993
8,552
6,901
2,199
10,545
2,154
1,931
1,326
4,013
16,063
62,181
(14,186)
14,226
18,155
-
(4,339)
-
9,888

17