TANFIELD RAILWAY TRusf LIM￿ED ACCOUNTS YEAR ENDED 31 JULY 2022 •ACIQW3SV" 1￿0412023 C(XAPANIES HOUSE A15 265 Charity Nnmber . 1072449 Company Number . 03232794 Ta￿r￿la Railway Trnst Limited Ae¢ounts Year eThd￿l 31 July 2022 CoDt¢nts ge Legal and administrative inforn)ation Report of the tNstee5 Report of the independent examiner Statement of financial activities Balance Sheet Ststement of C&sh Flows Notes forming part of the financial statements Tanfjeld Raihvay Trust Limited Accounts Year ended 31 Juty 2022 Legal and administrative information Charity number 1072449 Truste08 T M Hartley I Cowan D Smith - Chairnian P Wcighthwi R G Charlton D Allinson - resigned 17 July 2022 C S Walker- resigned l Dec 2021 L Griffiihs- appointed I Sep 2022 Secretsry A M Pickcring Principal address Tanfield Railway Marley Hill Sunniside Newustle up)n Tync NE16 SET Independent examiner R Davison BA ACA TC Group 12 Bessemer Court Hown5gill Park Knitsley IAnc Consett County Durharn DH8 7BL Tanfield Roilway Trust Limited Accounts Year ended 31 Jllty 2022 Report of the Trustees The trustees present their repK)rt together the a￿Unts of the charity for the year ended 31 July 2022. The accounts have been prepared in accordance wlth the accounting policies set out on page 8 and wmply with applicable law. Constitution and objects The organisation is a charitable company limiied by guaranfre. incorporated on l August 1996 and registered as a charity on 13 November 1998. The company was established under Memorandum of Association which established the objects and powers of the charitable company. The overriding objects of the charity are to advance education by acquiring housing, exhibiting, conservin& restoring and ryiring objects and colleclions of an educational nature. The charity looks to establish. acquire and maintain museurns. galleries. libraries and other places where su¢h purposes may be achieved and where education, educational research, enquiry and thc exchange and dissemination of relevant views and inforniation may happen. Name change The charity was renamed Tanfield Railway Trust on 4 August 2019. Trustees The members of the knard who served during thc year were as follows J Cowan D Smith C S Walker D Allinson T M Hartley P Wei8htman R G Charlion L Griffiths Organisation The charity is administered by a b)ard of trustees. Applications are sought annually. Policies Healih and safety issues are covered by a rigorous policy. Tanfleld Railway Trust Limited Year ended 31 Juty 2022 Report of the Trnstees- continued Public Benefit The trustees arc satisfjed that in accordance with the Charities Commission guidelines they meet the public benefit rwuirem¢nts. Review of the activities arbd achievements The trust continu¢s io work and develop with Tanfield Railway Company. Acces5 and our full range of aciivities has restsrted following the covid pandemic. to the enjoyment of the publi¢. Work has recommenced on our 1854 engine shed. the oldegt in the world still in use. The tasks include full roof replacement to best conserve the shed and Te*nable full. free public access. Planning continues for improvements to the Marley Hill site, including environrnental management. W¢ ar¢ getting ready for the world's first tercentenary celebrations in 2025 of the opening of a railway. The Trust has received several grants to help with improvements and preparation for these celebrations of our 1725 section of the Tanfield route. Our loco No 2 built for Keighley Gasworks by Hawthorn Leslie in 1911 is undergoing its l O year boller examination by the Tanfield Railway Company in order to be in full use tn 2025. Financial review Incoming funds amounted to £47,586 (2021 £58.291) of this £12.000 was rent from Tanfield Railway Company Limited. Other donations and gift aid were £1 0,394. Grants to mitigate the effects of Covid wer¢ £5.109 and £20.082 for car parK signage, Causey Arch wagonway and scaffold lower. Approved b e trustees and signed on their behalf by D Smith Yw 31 July 21ll2 Jufy 2022 Tkni(a ￿ *t out On 9. Charthei A¢t 2011(the Clwitits A&*) &>t8 n(rt 4Jpty. It 18 my re¥￿]￿ to C4mission (uod# Bec*(m 145(5) (b) of th¢ Clwilifa A¢t) and Iwv¢ not kn m¢t'or RDavison BA ACA & We4r NEI i OJQ Tanfield Railway Trnst Limitol Year ended 31 Juty 1022 ststement of fiThaneial activities Total 2022 Total 2021 INCOMING RESOURCES Donations and Gift aid Rates Relief Grant Grdnts - GMBC Grants- Community Foundation Rent Sales and Recharges 8,456 11,809 25,192 40,422 12,IKIO 1938 0,000 Tolal itttome 58.291 RESOURCES EXPENDED Grants to Tanfield Railway Company Rates Equipment Materials Waste Depreciation A￿ountancY Sundry 51.000 1.923 49.000 3,607 2,583 27,079 1,872 7045 673 1.248 7,845 876 31 Total expenses 91.040 65,190 DefieRt for the year (43,454) (6.899) Funds at l August 2021 255.886 262. 785 Fujjds at 31 Juty 2022 212,432 255,886 Tanfield Raihvay Trnst Limited Balance Sheet a$ at 31 Juty 2022 Iyoles 2022 2021 Fixed Asset$ Tangible fixed assets Museum equipment 72.183 80, 028 J,810 73.993 8J,838 Current 2wts Stock Other debtors Bank account 1,000 6.000 168,502 6.OIN) 132.112 139,112 175,502 Creditors: Amounts due in one year - Accrugls Net turrent assets 673 1,454 138 439 174.048 Net assets 212 432 255,886 Represenied by Funds 212,432 255.886 The charitable wmpany is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2022. The trustees have not required the charitable company io obtain an audii of its financial statements for the year ended 31 July 2022 in ac¢ordan¢e with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and (b) .preparing financial statements which give a true and fair view of the slate of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordanc¢ with the requi￿rnents of Section 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. The financial statements have been prepared in accordance with Accounting and Rep)rting by Charities: Statement of Recomrnended Prdctice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2015)- (Charities SORP (FRS 1023), the Financial Reporting Standard appIl￿b]e in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The financial staternents were approved by the Board of Trustees on and were signed on its behalf by D Smith Tanfield Railway Trust Limited Year ended 31 Juty 2022 Ststement of Cash Flows 2022 2021 Cash used in operations Net movement in funds (43,454) (6,899) Increase in debtors (6000) {Decrease) in a¢¢n￿lS Depreciation (781) 494 7,845 Net cash absorbed from operations 36 Change in eAsh in the year (36J90) (4,560) Cash brought forward 168J02 173,062 Cash carried forward 132 112 168.502 Tanfield Raihvay Trust Limited Year ended 31 Juty 2022 Notog lo the accounts Accounting policies Basis of preparation The financial statemenis have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts tn accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2015) - (Charities SORP (FRS 1023), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Incoming resourtes Grants and donations arc only includa in the SOFA when thc charity has unconditional entitlement to the resources. Resource5 eypended Costs are recognised as and when there becomes a legal or constructive obligation committing the charity to pay out the ￿soUrces. Unrestri¢ted fuDd5 Funds described as restricted funding are available for any expenditure the trustees consider appropriate to the meet the charity's objects. Dep￿1￿tiOn Depreciation is provided at the following annual rntes in ordcr to write off cach asset over its estimated useful life Buildings 5Yo on Cost Tanfield Raihvay Trust Limited Year ellded 31 Juty 2022 Note$ to the a¢eounts Tangible fixed assets Building Cost As at l August 2021 Additions 155,657 As at 31 July 2022 155,657 Depreciation As at l August 2021 Charge for year 75,629 7,845 As at 31 July 2022 83,474 Net book value At 31 Juty 2022 72.183 Nei book value at 31 July 2021 80,028 R¢l#ted parties In order io present some of its airns. The Trnst supports the Tanfield Railway Company in operdting the Tanfield Railway.