##
##
||||Reference and Adtninistratlve|Details|Details|Details|||
|---|---|---|---|---|---|---|---|---|
||||Compo ay Information||||||
||||Beard efTrustees (Directors)||||||
||||N Shnrpe (Chairmnni||||||
||||K R Ashl'ord||||||
||||D JBagard||||||
||||MR Blee||||||
||||AEDevcy||||||
||||DC Greeno||||||
||||S D Rubens||||||
||||N A Scsrleu||||||
||||G Wigglcsworth||||||
||||Co su puny
Secretary||||||
||||A E Dewey||||||
||||Registered Oifke||||||
||||Sheringham
Station||||||
||||Sheringham||||||
||||Norfolk, NR26 8RA||||||
||||Registered
Ctnn
puny Number||||||
||||D33554I I||||||
||||Registered Charity
Number||||||
||||1063676||||||
||||Working
Names||||||
||||MIIGN Soriety||||||
||||MJIGN Joint Raihvny
Society||||||
||||MRGNJRS||||||
||||Itnlependeut
EsamhreriAnditer||||||
||||Mr M Hcvvcu FCA DChA||||||
||||Peters, EIwonhy Jt Moore||||||
||||Salisbury
House||||||
||||Statism Road||||||
||||Cetnbridge. CBI 2LA||||||
||||Lloyds Bank pk
I West Street, Cromer
Barcinys Bank pic
P0Box I,Banbury||||||
||||Norlulk, NR27 %HZ
Oxon.|OX||I68PS|||
||Peypal||Suml 'p Payments
Limited
CCLA Investment||||Management|Limited|
|Bsllycoolin|industrial|Esmte|32-34 Great Marlborough
Street|||One Angel Lane|||
|Dublin l5, Ireland|||London, WIF 7JB||London.||EC4R 3AB||
||||I ave sna cut Managers||||||
||||Cazcnovc Capital
Insight Financial||Advisors||||
||||I London Wall Place
7a Alkmaar||Way||||
||||London, EC2V 5AU
Notwich
Intornationa)|||Business Park|||
||||laorwich. Norfolk.|||NR6 6BF|||
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|ot charity
law,|who served during|dm yea|r to 31 January 2023|were:||
|---|---|---|---|---|---|
|N Sharpe|Chairman|||DCGreeno||
|K R Ashford||||P W Mayne(died09|June2022)|
|A M Barrs|Vice Chairman|(resigned 02 April 2023)||S D Roberts||
|DJBollard||||N A Scarlett||
|MR Blee|Assistant Treasmer|||R I-I Spickcr (resigned|09April 2023)|
|A EDewey|Treasurer k.Company||Sec unary|G Wigglcsworth||
##
##
##
||||Note|Unrestricted|Restricted|Endow|meat|2023|2022|
|---|---|---|---|---|---|---|---|---|---|
|||||firnds|fuada||fund|Totalf|Total|
|Income and endowmenrs||front i||||||||
|Donations
and legacies||||28,663|49,144|||77,807|114,718|
|Other trading activi ties|||||7,971|||7,971|7,986|
|investments
Jt interest|receivable|||6,716|23,106|||29,822|23350|
|Charitable
acdvi ties;||||||||||
|Conservation
activities|||7|97,935|2,000|||99,935|89396|
|Education activities|||8|2,108||||2,108|521|
|Membership
subscri pti|ons||9|56,476||||56,476|54,425|
|Primary
pulpOSC trading|||10|14,172|26,223|||40,395|31,065|
|Total income||||||||314514|~321
1|
|Expenditure
oui||||||||||
|Raising funds||||2362|8,544|||10,906|8,588|
|Charitable
arxiviYies:||||||||||
|Conservation
act iv it i es|||7|112,487|13,031|||125,518|99,405|
|Education activities|||8|5,255|1,301|||6,556|4,962|
|Membership|||9|54,257||||54,257|41,924|
|Primary
purpose trading|||10|7,697|2,089|||9,786|14,696|
|Total expenditure||||~)82|~4||||169575|
|iNet income before investment||||24,012|83,479|||107,491|151,786|
|gains
Net (losses) gains on iavestmeats|||15||~31 996|||~1|~44|
|Net income before transfers|||12|24,012|51,483|||75,495|172,260|
|Transfers between
funds|||22|23,873|(37,873)||14,000|||
|Net Movement
in Funds||||47,885|13,610||14,000|75,495|172,260|
|Total Funds brought|forward|||839,631|1,672,923|590,880||3,103434|2,931,174|
|Total Funds carried forward|||19|887,516|1,686,533|604,880||3,178,929|3,103,434|
##
##
|Fixed Assets||||||
|---|---|---|---|---|---|
|Heritage assets|||14|508,727|525,455|
|Tangible assets|||14|372,390|385,179|
|Investments|||15|1,208,876|1,244,746|
|Total fixed assets||||2,089,993|2,155,380|
|Curreat Assets||||||
|Stocks||||95,953|69,353|
|Debtors|||17|33,588|97,395|
|Cash at bank and in|hand|||973,274|795,281|
|Total current assets||||1,102,815|962,029|
|Liabilities||||||
|Creditors: Amounts|falling due within|one year|18|13,879|13,975|
|Net current assets||||1,088,936|948,054|
|Total assets less current liabtlitiesiaet||assets||3,178,929|3,103,434|
|Feeds ofthe charity||||||
|Endowment
fund|||22|604,880|590,880|
|Re suicted
income funds|||21|1,686,533|1,672,923|
|Unrestricted
funds|||19|887,516|839,631|
|Totalrharity
funds||||3,178,929|3,103,434|
##
##
||||||||2023||2022||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||Total||Total||
|||||||||f.|||
|Cash Aaws from||operatiag||nctivisies|||||||
|Net cash|geneteted|by operating
activities||||24||160,216||173,474|
|Casll Doers from||Investing||activities|||||||
|Dividends, intemt||and rent||from investments||24|29,822||23,350||
|Purchase|ofpropety,
plant|||and equipment||14|(15,919)||(24,083)||
|Proceeds|from the|disposal||ot listed investments||15|1 lg, i55||58,796||
|G itiofunlisted
investments||||||15|||(250)||
|Pwchase|ol' listed|investments||||15|(113,828)||(65,097)||
|Net cash|frota I(used) in||investing
activities|||||18,230||(7,284)|
|Change|in cash and cash||equivalents||in the||||||
|reporting|period|||||||178,446||166,190|
|Cash and|cash equivalents||at the beginning ofthe|||25|||||
|reporting|period|||||||||633,692|
|Catdt and cash equivalents||||at the ead|ofthe|25|||||
|t'sporting|pe&xi|||||||978,328||799,882|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|,
Income from|donations
aud kgacies||||||
|---|---|---|---|---|---|---|
||||2023|||2022|
||Unrestricted|Restricted|Total|Unrestrkted|Restrkted|Total|
||fundsf|funds|funds|funds|fonds|funds|
|Donations|6, 172|45,898|52,070|3,999|27,814|31,813|
|Legacies|~2|3 246
49944|25 737
~7|~779
81 904|32 814|114718|
##
||||||2023|||2022|
|---|---|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|Unrestrkted|Restrkted|Total|
||||funds|funds|funds|funds|fonda|furuh|
|||||||8|||
|Locomotive|support||||||||
|clubs||||~7|7971||~79||
|.
Investments||k interest receivable|||||||
||||||2023|||2022|
||||Unrestrkted|Restricted|Total|Unrestricted|Restricted|Total|
||||firnds|hnds|lbuds
8|funds|funds
8|hndsf|
|UK quoted|investmenls|||13,472|13,472||13,690|13,690|
|UK unquoted investments
Bank interest|||1,575
5 141|7,947
~17|9,522
29822|1,549
~I|7,992
~3
~7|9,541
119|
|.
Expenditure||on raising funds|||||||
||||||2023|||2022|
||||Unrestrkted|Restricted|Total|Unrestricted|Restricted|Total|
||||funds|hnds|funds|funds|ha dc
f,|fundsf|
|Expenditure|||||||||
|Locomotive|support clubs|||2,874|2,874||2,742|2,742|
|Marketing|tk fun|drai sing|2,089|523|2,612||431|431|
|investment|management||||||||
|charges
Suppon costs (note 11)|||~2|5,147
~44|5,147
~27
JjL995|-|5,415
8 588|5,415
~5|
##
##
##
##
|||||||2023|||2022|
|---|---|---|---|---|---|---|---|---|---|
|||||Unrestricted|Rest ric red|Total|Unrestricted|Restricted|Total|
|||||funds|funds|funds|funds|funds|feeds|
|Income||||||||||
|Locomotive|k.rolling|||||||||
|stork him fees||||96,935||98,935|82,675|5,621|88,296|
|Premises
licence fee||||1 000||1 000|I 000||~t|
||||||||||JERKS|
|Expenditure||||||||||
|Maintenance|Roperation||||2,166|56,970|22348|2,100|24.448|
|Restoration|costs||||2,997|2,997||6,364|6,364|
|Grant paid|||||||3,168||3,168|
|Insurance||||10,079||10,079|13~9||13,239|
|Equipment|4t|storage||1,100||1,100|1,100||1,100|
|Deprmiation||||33410|7,868|41378|32,068|7,868|39,936|
|Support costs||(note 11)||~12
1 47|~tf|122(
1||~I2|99405|
|Net income/(expmtdi|||ture)|||||~71|~tt
9|
|. Education||acdvitics||||||||
|||||||2023|||2022|
|||||Ua restricted||Total
Unrestricted||Restricted|Total|
|||||funds||funds|fiends|fitads|funds|
|lnccnne||||||||||
|Museum
entry||fees||||||||
|||||2 108||2 108|521||521|
|Expenditure||||||||||
|Equipment|R|storage||2,030|207|2437|500|272|772|
|Subscriptions||tk donations|||213|213||208|208|
|Depreciation
Support costs||(note 11)||2,618
~7|881|3,499
~67|2,618
483|881|3,499
483|
||||||||||4994|
|Net expenditum||||~47|~|~44|QJ}gj|~t|~4441|
##
##
##
##
|||||||2023|||2022|
|---|---|---|---|---|---|---|---|---|---|
||||Unrestrkted|Restricted||Total|Unrestrkted|Restrkted|Total|
||||funds|funds||lands|fuads|funds|funds|
||||||8|8||8||
|Income
Membership|fees||~47
~76|||56476|~44
54425||~44
54425|
|Expenditure||||||||||
|Joint
I ine publishing|||22,176|||22,176|20,491||20,491|
|Adminisuati|on||25,813|||25,813|15,806||15,806|
|Suppott costs (note||I I)|~42 7|||~7|~44|||
|Net income|||2 219|||~219|12211|||
|0, Prhnary|purpose tradiag|||||||||
|||||||2023|||2e22|
||||Uarestric ted|Restrkted||Total|Unrestricted|Restricted|Total|
||||funds|funds||funds|*nds|*nds|funds|
|||||||8||f.||
|Income
Shop Jt publishing||sales|14 172|~222||4~||||
|||||||~4||||
|Expenditure||||||||||
|Cost ofgoods sold
Equipment 4storage|||6,527|2,089||8,616|11,422|1,179|12,601|
|Deprmiation|||281|||281|281||281|
|Support costs (note||11)|889
~797|||889
~7|I 814
JidJ2||I 814|
|Net income|||647|~241|4|||$4477||
##
##
##
|1,Support costs|||
|---|---|---|
||2023|2022|
||Total expenditure|Total expenditure|
|Expenditure|||
|OAice rent Jb charges
Bank k cmdit card charges|9,128
1,744|9,322
1,169|
|Subscriptions
Jt donations|813|867|
|OAice equipment
depreciation|278|470|
|Governance
Mismttsneovs
expenditure|7,247
~tt|6,809
~4|
||2L9tL|~l074|
|Allocated to|||
|Expenditure
on raising
funds (note 6)|273||
|Conservation
activities
(note 7)|12,994|11,150|
|Education activities (note 8)|607|483|
|Membership
(note 9)
primary
purpose uading (note 10)|6,268
889
~2I
1|5,627
~114
~7|
##
|||2023|2022|
|---|---|---|---|
|Deprecation||45,436|44,183|
|independent
Examiner's|remuneration|2.950|2,825|
|Expenses reimbursed
to|Bcurd Members|1,934|t506|
|Opera(ing
lease rentals||9,100|9,100|
##
##
##
|14 Taagible Fixed Assets||||||||
|---|---|---|---|---|---|---|---|
|||V|||||Total|
|||IJ||||u gl||
|||||g||||
|Cost at start ol'year
Additions
in year|627,117
~14|367,452
~9|994,569|520,403|4$,582|568,985|1,563,554|
|Cost st end of'year|641,117|369371|1,010,488|520,403|48382|568,985|1,579,473|
|Depreciation
at start ofyear
Charge for year|300,000|169,114
~4|469,114|146,325|37,4$1|183,806|652,920
45436|
|Depreciation
at end ofyear|300,000|201,761|501,761|157,248|39,347|196,595|698,356|
|Nct book valve at end ol'year|341,117|167,6111|508,727|363,155|9~5|372,390|881,117|
|Net book valve at start ofyear|327,117|198,338|525,455|374,078|11,101|385,179|910,634|
##
||2023|2022||2020|2019|
|---|---|---|---|---|---|
|Purchases Jt capitalisution:||||||
|Locomotives|||60,0011||35,000|
|Diesel multiple
unit|||100,000|||
|Carriages
and wagons|14,000||||35,000|
|Other collection items|||250|1,674|1,417|
|Locomotive Boilers|1,919|24,083|5,766|47332||
|Charge for deprecituion;||||||
|Locomotive
boilers|32,647|31,078|52,544|52,543|43,757|
|Disposals carrying
amounts:||||||
|Locomotive boilers||||||
|Carriages and wagons|||||10|
|Proceeds from disposals:||||||
|Locomodve boilers||||||
|Carriages
und wagons|||||1,000|
##
##
##
|5.Iuwstmeats||||||
|---|---|---|---|---|---|
||||2023||2022|
|Shares in North Norfolk|Railway PLC||263 763|||
|Total Shares in Associate||at cost||25tZQ||
|North Norfolk Railway PLC Bond Issue 4|||30,000||30,000|
|Midland
tk Great Northern||Heritage Limited|1,000||1,000|
|Zen zic Loan Note|||J99d!K||~100|
|Total Unquoted
Investmems
at cost||||~tt|~t|
|Cazenove Charity NURS
Prudential
Assurance
and||Fund
LGT Vestin Fund|304.070
~043||316,855
533 128|
|Total quoted
investments||at fair value||||
|Total invesnnents
srcost||or fair value|||~74|
|Movement
in quoted fixed asset invcsunents:||||2023|2022|
|||||8||
|Fair value at beginning ofthe year||||845,382|818,607|
|Addi tions at cost||||113,828|65,097|
|Disposal proceeds||||(118,155)|(58,796)|
|Realised gains||||3,073|2,691|
|Disposals at opening fair||value||(115,082)|(56,105)|
|Net unrealised
invesunent||gains f(losses)||35069|177|
|Fair value at end ofthe year||||809,059|845,382|
|Cash held by investment|managers
for re-investment|||5,054|4,601|
|Total quoted investments||at fair value||814 113|849983|
|he Sociery's appmximately
30.7v/o (2022|30.8'/v) proportions ofth|e share capi|tal and profits oft|he NNR|
|---|---|---|---|---|
||2023||2022||
||8||||
|Share Capital|263,763|30.7|263,763|30.8|
|Prollt and loss account|(94,989)|30.7|(12,930)|30.8|
|Net (loss) / profit for the year|(82,103)|3G.7|60,079|30,8|
##
##
##
##
##
##
##
##
||||||||2023|2022|
|---|---|---|---|---|---|---|---|---|
|P repay|ments and accrual||||income||18,580|18,991|
|Gther|debtors||||||15,008|78,404|
|||||||||97395|
|lg. Creditors;|||Amounts||faHiag due within oae year||||
||||||||2023|2022|
|||||||||g|
|Trade|Creditors||||||5,351|4,165|
|Amounts||owed|to group||and associated|undertakings|802|802|
|Accruals||and deferred||income|||3,255|4,853|
|Taxation||and social security|||||4,471|4,155|
|||||||||13975|
##
|Sta tame at ofFunds—|Sta tame at ofFunds—|Balance at||||||Balance|
|---|---|---|---|---|---|---|---|---|
|Current year||beginning||||Investrnent||at end of|
|||ofyear|Income||Kspenditure|Losses|Transfers|year'|
|||||||f.||8|
|General
Fund
Transfers re: prior
Adjusted
opening|years
balance|280,815
tttti
380815||||||280,815
tttti
~t|
|Transactions
in year||380815|86644||105 123|||~27 17|
|Designated
Funds|||||||||
|Note 20||558,816||||||55&,816|
|Transfers re: prior|years|~IGG 000||||||~I|
|Adjusted
opening|balaace||||||||
|Transactions
in year||458 816|119426||769||991991||
|Total Unrestricted|Funds|839,631|206,070||(182,058)||23,873|887,516|
|Total Restricted Funds|||||||||
|Note 21||1,672,923|10&,444||(24,965)|(31,996)|(37,873)|1,686,533|
|Total Endowment|Funds||||||||
|Note 22||590,880|||||14,000|604,880|
|||3 103434|314514||~207023|~31||17 92|
|Statement ofFunds-||Balance at||||||Balance|
|Prior year||beginaing of||||Investment||at end of|
|||year|Income||Expenditure|Gains
8|Transfers|year|
|General Fund||291,051|154,894||(95,750)||(69,380)|280,815|
|Desigmued
Funds—|||||||||
|Note 20||516,711|82,675||(46,365)||5,795|558,816|
|Total Unrestricted||807,762|237,569||(142,115)||(63485)|839,631|
|Fends|||||||||
|Total Restricted Funds|||||||||
|Note 21 —As Restated||1,532,782|83,792||(27,460)|20,474|63,335|1,672,923|
|Total Endowment|Funds||||||||
|Note 22||590,630|||||250|590,880|
|||~29
I 174|~21|I|~|~44|||
##
##
##
##
##
|Current year||Balance at|||||||
|---|---|---|---|---|---|---|---|---|
|||beginaiag|||Investment|||Balance at|
|||ofyear|Income|Expenditure|Losses||Transfers|ead ofyearf|
|Loco Club (ag|looos)|78,954|13,274|(121)|||(24,516)|67,591|
|JI5||8,089|7,892|(I,325)|||(2,500)|12,156|
|B12||7,749|3,872|(1,428)|||(&75)|4,618|
|BI2 Overhaul|Appeal|49,968|7,966|(406)|||651|58,179|
|WD||4,965|1,370||||(4,660)|1,675|
|Wissington||3384|510|||||3,894|
|Ring Haw||375|135|||||510|
|Steam Looo Legacy||1,107,388|23,102|(5,147)|(31,996)|||1,093,347|
|31 Fund (Class|31)|1,246|||||(780)|910|
|Diesel Club||5,692|1,515|(117)||||7,090|
|Heritage Coach Fund||52,001|29,112|(5,774)||||75,339|
|Quad Art Set||2,592||||||2,592|
|Museum||39248|5,756|(1,674)||||43,330|
|Museum
Improvements||20,030||(880)||||19,150|
|Holt Development||4,964|330|||||5,294|
|Carriage 8hedr,||283,210||(7,868)||||275,342|
|Railway Cottage|||2,392|(225)||||2,167|
|PEG Fund|||10,774|||||10,774|
|Sociery Grants||||||||2 575|
|||923|108444||||~37873|~16865|
|Prior year||Balance|||||||
|||at|||||||
|||beginning|||Invesmt|eat||Balance at|
|||ofyear|Incotne
g.|Expenditure
8|Gains||Transfers
f,|ead ofyearf|
|Loco Club (all|looos)|70,244|14,615|(110)|||(5,795)|78,954|
|J15||5,258|4,239|(1,408)||||8,089|
|Bt2
Bi2 Overhaul|Appeal|5,182|3,791
6,269|(I224)
(431)|||44,130|7,749
49,968|
|WD||3,170|1,795|||||4,965|
|Wissington||2,874|510|||||3,384|
|Ring Haw||125|250|||||375|
|Steam Looo Legacy||1,070,622|2t,708|(5,416)|20,474|||1,107,388|
|31 Fund (Class|31)|802|444|||||1,246|
|Diesel Club||4,202|1,490|||||5,692|
|Heritage Coach Fund||10,480|26,121|(9,600)|||25.000|52,001|
|Quad Art Set||2,467|125|||||2,592|
|Museum||37,791|1,980|(523)||||39,248|
|Museum
Improvements||20,910||(880)||||20,030|
|Holt Development||4,509|455|||||4,964|
|Carriage Sheds
Society Grants||291,078
~06||(7,868)
~27460|~2474|||283,210
306$ ~7|
##
##
##
##
##
##
||||Desigaated|General|stricted|Endowment|Total|
|---|---|---|---|---|---|---|---|
||||Funds|Fund|Funds|Fund|Funds|
||||||||8|
|Tangible||fixed assets|234,610|10,899|294,491|341,117|881,117|
|lnvestmcnts||||31,000|914,113|263,763|1,208,876|
|Net Current Assets|||365,728|245,279|477,929||1,088,936|
|||||||||178929|
|prior|year||Designated|Geaeral|Restricted|Eudmv meat|Total|
||||Funds|Fund|Funds|Fund|Funds|
||||8|8||||
|Tangible||fixed asses|219,255|61,022|303,240|327,117|910,634|
|Inveenn|en|ts||31,000|949,983|263,763|1,244,746|
|Net Current Assets|||339,561|188.793|419,700||948,054|
||||5
81|280815|I 672923|590880||
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|||2022|
|---|---|---|
|Net income for the year (asper the statement of|||
|financial activities)|75,495|172,260|
|Depreciation
charges|45,436|44,183|
|Losses / (Gains) on investments|31,996|(20,474)|
|Dividends,
interest and rent from investments|(29,822)|(23350)|
|(Increase) / dectoase in stocks|(26,600)|1,040|
|Decrmse
/ (Incrmse) in debtors|63,807|(4,491)|
|(Decrease) / increase in creditors|(96)|4,306|
||Ittt2166|1734|
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|||||2023|2022|
|---|---|---|---|---|---|
|Cash|at bank and in hand|||973,274|795,281|
|Cash|held by investmem|managers|for re-investment|5,054|4,601|
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||||2023|2022|
|---|---|---|---|---|
||||g||
|Not tater|than|I year|9,100|9,I00|
|Later than|I year and noi liner than 5years||8,450|17,550|
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