Swindon & Cricklade Railway (A company limited by Guarantee)
Trustees Report For the Year Ended 31 January 2021
Charity Number 1067447 Company Number 3479479
and
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2021
REGISTERED NUMBER 03479479
DERRICK NEWMAN LIMITED ACCOUNTANTS
Rebuilding Yesterday’s Railway For Tomorrow’s Children
Swindon & Cricklade Railway Report of the Trustees for 2020 - 2021
Structure
The Charity (Registered Number 1067447) is a Company Limited by Guarantee (Registered in England, Number 3479479)
Registered Office, Blunsdon Station, Tadpole Lane, Blunsdon, Swindon SN25 2DA
Principal Place of Business: Blunsdon Station, Tadpole Lane, Blunsdon, Swindon SN25 2DA
Management
The Charity is governed by its Memorandum and Articles of Association incorporated on 11 December 1997 as amended by special resolution dated 5 June 2015. In the event of the Company being wound up each member is required to contribute an amount not exceeding £10. There are currently 634 members eligible to vote at general meetings.
Aims and Objectives
The Charity’s object is to preserve for the public benefit steam and other railway locomotives and rolling stock, machinery and equipment of educational and historic interest.
Appointment of Trustees
The Directors of the Company are called Trustee and for the purpose of Charity Law fulfil that role. Under the requirements of the Memorandum and Articles of Association, the Trustees are elected to serve for a period of up to three years, after which they must be reelected at the next Annual General Meeting.
The Trustees who served during the financial year are listed in the financial statement section of this report.
During the period covered by this report, the Chairman of the Board of Trustees was M Lay until 4 September 2020, and subsequently D Nash. The other officers of the charity, who were not Trustees, were: Acting Treasurer R Wear, Company Secretary R Barber.
The Trustees retiring by rotation are W Daly (co-opted 12 September 2020), D Nash and J Simpson.
Achievements and Performance during the year
The charity as part of its object to restore locomotives and rolling stock continues to develop the railway as a means by which they may be displayed and operated. This enables the public to see and experience the vehicles as operated in their heyday. Our third station at Taw Valley Halt has greatly improved access for visitors from Swindon making use of public transport. Our focus has now shifted to extending northwards.
The Covid-19 pandemic meant that we were only able to run 6 scheduled services in early 2020 before we were compelled to shut down. During this period we set up a basic online ticket sales system on our website. When lockdown eased, after suitable staff refresher training and the establishment of the necessary COVID protocols and precautions, we were able to run limited socially-distanced services using compartment stock in October, until forced to close again in early November. In mid-December we managed to run 4 days of substitute Festive Trains with pre-booked sweet bags for the children, before we were closed down again on Boxing Day.
The income raised by these services helped to pay our fixed expenses, as they were well supported by our local visitors. Total ticket sales were a small fraction of those during a
SWINDON & CRICKLADE RAILWAY
COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2021
| TRUSTEES |
M Denton |
|---|---|
| D Nash | |
| J Simpson | |
| A Webb | |
| W Poling | |
| A Bott | |
| P Martin | |
| A Tomes | |
| W Daly | |
| SECRETARY |
R Barber |
| COMPANY NUMBER |
03479479 |
| REGISTERED CHARITY NUMBER |
1067447 |
| REGISTERED OFFICE |
Blunsdon Station |
| Tadpole Lane | |
| Blunsdon | |
| Swindon | |
| Wiltshire | |
| SN25 2DA | |
| ACCOUNTANTS |
Derrick Newman Limited |
| Chartered Accountants | |
| 29 Bath Road | |
| Swindon | |
| Wiltshire | |
| SN1 4AS |
SWINDON & CRICKLADE RAILWAY
FINANCIAL STATEMENTS FOR THE YEAR ENDE 31 JANUARY 2021
CONTENTS
| Page | |
|---|---|
| Trustees report | 1 |
| Independent Examiners report | 2 |
| Statement of financial activities | 3 |
| Balance sheet | 4 |
| Notes to the financial statements | 5-7 |
The following pages do not form part of the statutory accounts
Schedules to the statement of financial activities Appendices 1-2
| P Tomes | - Resigned 4 September 2020 |
|---|---|
| D Grigsby | - Resigned 4 September 2020 |
| M Lay | - Resigned4September 2020 |
| MDenton | |
| G Barrett | - Resigned9May2020 |
| DNash | |
| J Simpson | |
| A Webb | |
| WPoling | |
| ABott | - Appointed 4 September 2020 |
| PMartin | - Appointed 4 September 2020 |
| A Tomes | - Appointed 4 September 2020 |
| WDaly | - Appointed12September 2020 |
3
SWINDON & CRICKLADE RAILWAY
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2021
| Unrestricted Funds Note £ INCOMING RESOURCES Incoming resources from donors 50,381 Other voluntary incoming resources 8,204 Income from charitable & ancillary trading 21,269 Income from investments - TOTAL INCOMING RESOURCES 79,854 RESOURCES USED Activities directly relating to the work of the charity 74,251 Charity management and administration 7,132 TOTAL RESOURCES USED 81,383 RETAINED NET INCOMING RESOURCES FOR THE YEAR (1,529) RETAINED RESOURCES BROUGHT FORWARD 554,617 RETAINED RESOURCES CARRIED FORWARD 553,088 |
Unrestricted Funds Note £ INCOMING RESOURCES Incoming resources from donors 50,381 Other voluntary incoming resources 8,204 Income from charitable & ancillary trading 21,269 Income from investments - TOTAL INCOMING RESOURCES 79,854 RESOURCES USED Activities directly relating to the work of the charity 74,251 Charity management and administration 7,132 TOTAL RESOURCES USED 81,383 RETAINED NET INCOMING RESOURCES FOR THE YEAR (1,529) RETAINED RESOURCES BROUGHT FORWARD 554,617 RETAINED RESOURCES CARRIED FORWARD 553,088 |
Restricted Funds £ 32,074 - - 363 |
TOTAL FUNDS 2021 2020 £ £ 82,455 103,211 8,204 7,020 21,269 98,141 363 550 112,291 208,922 74,251 176,494 7,132 14,301 81,383 190,795 30,908 18,127 1,154,436 1,136,309 1,185,344 1,154,436 |
TOTAL FUNDS 2021 2020 £ £ 82,455 103,211 8,204 7,020 21,269 98,141 363 550 112,291 208,922 74,251 176,494 7,132 14,301 81,383 190,795 30,908 18,127 1,154,436 1,136,309 1,185,344 1,154,436 |
|---|---|---|---|---|
| 79,854 | 32,437 | 112,291 | 208,922 | |
| 74,251 7,132 |
- - |
74,251 7,132 |
176,494 14,301 |
|
| 81,383 | - | 81,383 | 190,795 | |
| (1,529) 554,617 |
32,437 599,819 |
30,908 1,154,436 |
18,127 1,136,309 |
|
| 553,088 | 632,256 | 1,185,344 | 1,154,436 |
4
SWINDON & CRICKLADE RAILWAY
BALANCE SHEET AT 31 JANUARY 2021
| Note FIXED ASSETS Tangible fixed assets 6 CURRENT ASSETS Stock Debtors 7 Cash at bank and in hand CREDITORS: amounts falling due within one year 8 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS: amounts falling due after more than one year 9 NET ASSETS FUNDS 10 Unrestricted Restricted |
£ 700 5,859 192,970 |
2021 £ 986,147 199,197 |
£ 1,600 8,495 177,942 |
2020 £ 977,846 176,590 |
|---|---|---|---|---|
| 199,529 332 |
188,037 11,447 |
|||
| ( | ||||
| 1,185,344 - |
1,154,436 - |
|||
| 1,185,344 | 1,154,436 | |||
| 553,088 632,256 |
554,617 599,819 |
|||
| 1,185,344 | 1,154,436 | |||
| continued ) |
5
SWINDON & CRICKLADE RAILWAY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021
1 STATUTORY INFORMATION
Swindon & Cricklade Railway is a private company, limited by guarantee, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2 ACCOUNTING POLICIES
Basis of Preparing the Financial Statements
These financial statements have been prepared in accordance with the provisions of Section 1A ''Small Entities'' of Financial Reporting Standard 102
''The Financial Reporting Standard applicable in the UK and Republic of Ireland'', the Companies Act 2006 and the Statement of Recommended Practice "Accounting by Charities". The financial statements have been prepared under the historical cost convention.
Tangible Fixed Assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Buildings and equipment - nil Plant - 15% reducing balance basis
Inalienable and Historic Assets
In view of the fact that :
i) most of the locomotives and carriages in the Trust's collection are unique;
ii) most of them were purchased some years ago;
iii) the Trust's Disposal Policy has a strong presumption against disposal of items in its formal collection; and
iv) accurate values are difficult to obtain,
the Trustees do not feel it is appropriate to attribute a capital value to the locomotives and carriages in its formal collection.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
3 STAFF COSTS
There are no staff costs.
4 NET INCOMING RESOURCES
Net incoming resources are stated after charging :
| Depreciation - owned assets Trustees emoluments and other benefits etc. |
2021 £ 20,454 |
2020 £ 23,743 |
|---|---|---|
| - | - |
No corporation tax charge arises as the company is exempt due to its charitable status.
5 TAXATION
6
SWINDON & CRICKLADE RAILWAY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021
| 6 TANGIBLE FIXED ASSETS Buildings & Plant Equipment COST £ £ 1 February 2020 843,308 206,430 Additions 26,938 1,817 31 January 2021 870,246 208,247 DEPRECIATION 1 February 2020 - 71,892 Charge for the year - 20,454 31 January 2021 - 92,346 NET BOOK AMOUNT 31 January 2021 870,246 115,901 1 February 2020 843,308 134,538 7 DEBTORS : AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 £ Debtors 2,276 Prepayments 3,583 5,859 8 CREDITORS : AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 £ Trade creditors 332 9 CREDITORS : AMOUNTS FALLING DUE AFTER ONE YEAR 2021 £ Nil |
6 TANGIBLE FIXED ASSETS Buildings & Plant Equipment COST £ £ 1 February 2020 843,308 206,430 Additions 26,938 1,817 31 January 2021 870,246 208,247 DEPRECIATION 1 February 2020 - 71,892 Charge for the year - 20,454 31 January 2021 - 92,346 NET BOOK AMOUNT 31 January 2021 870,246 115,901 1 February 2020 843,308 134,538 7 DEBTORS : AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 £ Debtors 2,276 Prepayments 3,583 5,859 8 CREDITORS : AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 £ Trade creditors 332 9 CREDITORS : AMOUNTS FALLING DUE AFTER ONE YEAR 2021 £ Nil |
Plant £ 206,430 1,817 |
Total £ 1,049,738 28,755 |
|---|---|---|---|
| 870,246 | 208,247 | 1,078,493 | |
| - - |
71,892 20,454 |
71,892 20,454 |
|
| - | 92,346 | 92,346 | |
| 870,246 | 115,901 | 986,147 | |
| 843,308 | 134,538 | 977,846 | |
| 2020 £ 7,293 1,202 |
|||
| 5,859 | 8,495 | ||
| 2020 £ 11,447 |
|||
| 2020 £ Nil |
7
SWINDON & CRICKLADE RAILWAY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021
10 ANALYSIS OF NET ASSETS BY FUND
| ANALYSIS OF NET ASSETS BY FUND | ANALYSIS OF NET ASSETS BY FUND | |||
|---|---|---|---|---|
| Unrestricted Funds £ Fixed assets 471,886 Current assets 81,534 Current liabilities (332) Long term liabilities - 553,088 |
Restricted Funds £ 514,261 117,995 - - |
Total 2021 £ 986,147 199,529 (332) - |
Funds 2020 £ 977,846 188,037 (11,447) - |
|
| 553,088 | 632,256 | 1,185,344 | 1,154,436 |
Restricted Fund balances at 31 January 2021 comprise
| Building Works Barn Going North Spartan Paint Shop Visiting Loco PW Tool S & T Southern Extension Thumper Transport and Works Order Vintage Train Cinema Coach Designated Fund balances at 31 January 2021 comprise Machine Usage Spartan Moonraker |
£ 2,800 1,293 19,555 7,630 2,230 3,602 4,400 12,026 4,882 5,420 26,459 23,587 4,111 117,995 £ 6,348 17,512 1,980 |
|---|---|
| 25,840 |
11 COMPANY STATUS
The company being Limited by Guarantee, does not have a Share Capital. In the event of the company being wound-up, each member undertakes to contribute an amount not exceeding £10.
Appendix 1
SWINDON & CRICKLADE RAILWAY
SCHEDULE TO THE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2021
| INCOMING RESOURCES Unrestricted Funds £ Incoming resources from donors Donations 30,411 Pandemic Grants 17,802 Income tax recovered 2,168 Profit shedding deed - S&CR Limited - 50,381 Other voluntary incoming resources Membership subscriptions 8,204 Income from charitable & ancillary trading Ticket sales & events 20,137 Driver experience - Sale of scrap 1,132 Sundry income - Insurance claim - 21,269 Income from investments Interest received - TOTAL INCOMING RESOURCES 79,854 |
INCOMING RESOURCES Unrestricted Funds £ Incoming resources from donors Donations 30,411 Pandemic Grants 17,802 Income tax recovered 2,168 Profit shedding deed - S&CR Limited - 50,381 Other voluntary incoming resources Membership subscriptions 8,204 Income from charitable & ancillary trading Ticket sales & events 20,137 Driver experience - Sale of scrap 1,132 Sundry income - Insurance claim - 21,269 Income from investments Interest received - TOTAL INCOMING RESOURCES 79,854 |
Restricted Funds £ 27,560 - 4,514 - |
TOTAL FUNDS 2021 2020 £ £ 57,971 63,332 17,802 - 6,682 3,408 - 36,471 82,455 103,211 8,204 7,020 20,137 95,718 - 1,688 1,132 735 - - - - 21,269 98,141 363 550 112,291 208,922 |
TOTAL FUNDS 2021 2020 £ £ 57,971 63,332 17,802 - 6,682 3,408 - 36,471 82,455 103,211 8,204 7,020 20,137 95,718 - 1,688 1,132 735 - - - - 21,269 98,141 363 550 112,291 208,922 |
|---|---|---|---|---|
| 50,381 | 32,074 | 82,455 | 103,211 | |
| 8,204 | - | 8,204 | 7,020 | |
| 20,137 - 1,132 - - |
- - - - - |
20,137 - 1,132 - - |
95,718 1,688 735 - - |
|
| 21,269 | - | 21,269 | 98,141 | |
| - | 363 | 363 | 550 | |
| 79,854 | 32,437 | 112,291 | 208,922 |
This page does not form part of the statutory financial statements
Appendix 2
SWINDON & CRICKLADE RAILWAY
SCHEDULE TO THE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2021
RESOURCES USED
| Unrestricted Funds £ Activities directly relating to the work of the charity Insurance 14,287 Locomotive shed running costs 525 Locomotive & rolling stock maintenance 5,042 Locomotive fuel & hire 6,403 Plant & vehicle maintenance running costs 5,703 Site expenses 6,954 Events 3,535 Utilities 5,443 Magazines 2,400 Sundry expenses 3,505 Depreciation 20,454 74,251 Charity management and administration Postage, stationery & publicity 7,132 TOTAL RESOURCES USED 81,383 |
Unrestricted Funds £ Activities directly relating to the work of the charity Insurance 14,287 Locomotive shed running costs 525 Locomotive & rolling stock maintenance 5,042 Locomotive fuel & hire 6,403 Plant & vehicle maintenance running costs 5,703 Site expenses 6,954 Events 3,535 Utilities 5,443 Magazines 2,400 Sundry expenses 3,505 Depreciation 20,454 74,251 Charity management and administration Postage, stationery & publicity 7,132 TOTAL RESOURCES USED 81,383 |
Restricted Funds £ - - - - - - - - - - - |
TOTAL FUNDS 2021 2020 £ £ 14,287 13,228 525 806 5,042 46,837 6,403 49,948 5,703 6,526 6,954 10,602 3,535 12,882 5,443 6,049 2,400 2,075 3,505 3,798 20,454 23,743 74,251 176,494 7,132 14,301 81,383 190,795 |
TOTAL FUNDS 2021 2020 £ £ 14,287 13,228 525 806 5,042 46,837 6,403 49,948 5,703 6,526 6,954 10,602 3,535 12,882 5,443 6,049 2,400 2,075 3,505 3,798 20,454 23,743 74,251 176,494 7,132 14,301 81,383 190,795 |
|---|---|---|---|---|
| 74,251 | - | 74,251 | 176,494 | |
| 7,132 | - | 7,132 | 14,301 | |
| 81,383 | - | 81,383 | 190,795 |
This page does not form part of the statutory financial statements