## **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