Draft Financial Statements at 03 May 2023 at 12:10:40
Charity registration number 1077725
Company registration number 3837779 (England and Wales)
LNER (GC) HERITAGE TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023
Draft Financial Statements at 03 May 2023 at 12:10:40 LNER (GC) HERITAGE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Arthur Barber Martin Roe Andrew Fillingham (Appointed 25 June 2022) Karen Sharpe (Appointed 25 June 2022) Lloyd Varley Charity number 1077725
Company number 3837779
Independent examiner Melvin Bailey FCCA, DChA Rogers Spencer Newstead House Pelham Road Nottingham NG5 1AP Bankers Charities Aid Foundation Bank 25 Kings Hill Avenue Kings Hill West Malling KENT ME19 4JQ Account number: 00010221 Sort code: 40-52-40
Draft Financial Statements at 03 May 2023 at 12:10:40 LNER (GC) HERITAGE TRUST
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 5 |
| Independent examiner's report | 6 |
| Statement of financial activities | 7 - 8 |
| Balance sheet | 9 |
| Notes to the accounts | 10 - 17 |
Draft Financial Statements at 03 May 2023 at 12:10:40 LNER (GC) HERITAGE TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 JANUARY 2023
The trustees present their annual report and financial statements for the year ended 31 January 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the trust's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".
Objectives and activities
The trust's primary objective is to promote the interest and awareness of the public in relation to industrial heritage and all kinds of transportation. To this end, the trust seeks to raise funds in support of worthy projects and there has been no change in this policy during the year.
Achievements and performance
Membership
Membership had continued to fall and remains at less than 400 members. Whilst we understand that the lack of any services being run by GCRN is a major contribution to this decline this situation needs to be addressed with some urgency.
On a more positive note, we would like to thank our remaining members, not only for their continued support, but also for the additional donations that many add to their subscriptions. As a result of this income from membership for the year was £5,397 falling from £6,182 the previous year.
However, income from BACS for the year was an impressive £1,476, which added to the membership income equates to £6,873 which will be allocated to general funding.
It is worth noting that where BACS is used, the current trustees cannot correctly attribute funds correctly unless specifically told who is the contributor and where the funds should be allocated. So, if using BACS please remember to add your name and/or membership number so that we may correctly allocate funds.
The cost of producing our Magazine ‘Driving Wheels’ has continued to rise and was £4,850 for the year: This is clearly an issue that needs to be addressed.
Hotchley Hill Signal Box.
Total donations for the year were £1,160. We would, in particular, like to thank a single donor for their continued support of this valuable project. A further £2,000 was donated by the East Midlands Railway Trust (EMRT) towards the project.
Grants for the year amounted to £2,046 of which £1200 was towards fabrication. A further £800 was granted to match the funds donated by EMRT.
At year end approximately £3,200 remained in the restoration fund. As no additional donations have been made this year to either the Rushcliffe Halt or Rushcliffe Halt footbridge funds, it is proposed to merge them towards the general improvement of Rushcliffe Halt Station. This will add a further £510 to the overall fund.
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Draft Financial Statements at 03 May 2023 at 12:10:40 LNER (GC) HERITAGE TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023
Achievements and performance (continued)
Platform Appeal Fund.
Donations of £270 have been received over the year; with particular thanks to our regular contributors. At year end, approximately £4,000 remains in the fund.
Mainline Appeal Fund.
Donations of £945 have been received over the year; with particular thanks to several donors who continue to submit monthly payments towards this appeal. At year end, approximately £17,500 remains in the fund.
Leyland Bus PD1 Fund.
Work continues on the Trust owned ex Leicester City Transport Bus DJF 349 undertaken primarily by volunteers of the Nottingham Area Bus Society (NABS). This year approximately £180 was contributed by the Trust towards vehicle running costs (MOT & insurance). No donations were received.
Other Income.
Overall Donations for the year were £5,710 of which approximately 50% (£2,525) was allocated to the designated funds outlined above. The remainder will be earmarked for general funding. Once again, we would like to thank those members who added donations to their membership payments.
We also received two legacies during the year amounting to over £25,300. We extend both our sincere condolences and grateful thanks to the families.
£642 was received by the Trust from Rental of the agricultural land near Bradmore. Approximately £180 dividend from HSBC Shares held by the Trust. Both were kindly donated by the Estate of John Wilson.
£823 was received in income from our savings account.
A further £164 was received from Easy Fundraising and Amazon Smile. This is a very welcome contribution to the Trust. If you shop online, please consider registering via https://www.easyfundraising.org.uk/causes/ greatcentralrailwaynottingham/.
GCRN.
£2.349 was granted to provide new fire extinguishers for Ruddington Fields.
A60 Bridge Appeal.
The Trust’s main grant of 2022 was £10,000 contribution to the restoration of the failed A60 rail bridge. The £10,000 was provided as a match funding and thus managed to generate £20,000 towards this step towards reunification.
Other Key Expenditure.
£1470 on the Independent Examiners fee and £92 0n bank charges.
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Draft Financial Statements at 03 May 2023 at 12:10:40 LNER (GC) HERITAGE TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023
Achievements and performance (continued)
Looking Forward.
Overall Aim.
The Trusts primary objective remains to promote interest and awareness of the public in relation to industrial heritage and all kinds of transportation. The Trustees believe that this is best achieved by working with the EMRT, GCRN, NABS and other stakeholders of the Nottingham Transport Heritage Centre to create a sustainable future for the promotion of Heritage Transportation.
To achieve this, we need to address the decline in our membership, provide better focus on the projects we undertake and greater transparency in our activities.
Changes to the Trust.
As you will probably be aware, significant changes to the Trust Executive have been made towards the end of 2022. Lloyd Varley has stepped back after many years of significant contributions towards the running of the Trust, for which we owe our thanks.
The new Executive Committee consists of: Andy Fillingham (Chair), Karen Sharpe (Secretary and Membership Secretary), Martin Roe (treasurer). Arthur Barber and Lloyd Varley remain as Trustees.
The Trust hopes to collaborate more fully with other key organisations at the Nottingham Transport Heritage Centre; in particular the East Midlands Railway Trust (EMRT), the Nottingham Area Bus Society (NABS) and the Great Central Railway Nottingham (GCRN). We hope that Andy’s presence on both the GCRN board and the Trust executive committee will better enable us to align our aims.
It is also intended to re-issue the constitution of the Trust to reflect the above changes and ensure that we are fully aligned with Charity Commission guidelines. Hopefully this will be in place shortly.
Membership.
The Trustees are unsurprisingly concerned about the falling number of members and, in particular, the relatively few younger members joining the Trust. Somehow, we need to re-invigorate the spirit of the original team who saw the vision of establishing both GCRN and Nottingham Transport Heritage Centre as feasible despite the challenges.
To better accommodate a more modern approach to membership, the Trust has re-introduced its website (lenergctrust.org). Membership can be applied for online or by mail. We also wish to restructure membership fees with a more streamlined approach largely consisting of individual, family, and 5-year membership and a similar structure for senior members. We also expect to introduce an under 25’s and working volunteers’ membership at a reduced price. Life membership will be by request only and priced in line with the age of the requestor.
Both Gift Aid and Direct Debit options will be available via the website and enable us to gather contact information
more accurately about our members.
To better focus our small team, it is intended to remove the standing order option and, where possible, replace this with Direct Debit.
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Draft Financial Statements at 03 May 2023 at 12:10:40 LNER (GC) HERITAGE TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023
Achievements and performance
(continued)
Existing members will not be affected by any changes but, if possible, The Trustees would appreciate Direct Debit payments to replace standing orders as they are easier for us to manage.
Mainline Appeal Fund.
The Mainline Appeal Fund has always been at the heart of reunification; in making GCRN an equal partner to our colleagues to the South. With this in mind, we intend to use the Mainline Appeal fund as our primary vehicle for supporting GCRN as it moves Southwards towards Rushcliffe Halt. Through closer links between EMRT and GCRN we intend to support projects that will enable this to happen more quickly.
The Mainline Appeal Fund will be directed at successive steps in this process, projects will be supported until they are complete. Then the next project will receive support and so forth.
The Mainline Appeal Fund will be our primary on-line campaign; single and regular donations will both be accepted; Gift Aid will be an option on all donations.
All donors will be notified as soon as one project is complete and another put forward.
Rushcliffe Halt Projects.
As previously mentioned, designated funds for Rushcliffe Halt have been merged into a single pot. Hopefully this will enable GCRN, or its appointed representatives, to proceed along similar lines to that propose for the mainline appeal; i.e. having sufficient funds to complete a project prior to adopting the next in line.
PD1& Bus Fund.
The Trust has been given the option of adopting more buses for long term preservation. Whilst this is eminently desirable from a heritage viewpoint, we need to decide whether this is a long-term option.
It is therefore proposed that a designated fund is established to cover the costs involved; currently approximately £200 per annum. A designated fund will be established on the website and will contain both Direct Debit and Gift Aid options.
Sadly, there is insufficient scope provided by the online campaigns manager to accept donations. Nonetheless, downloadable forms will be available on the website to contribute to the fund. These will contain both Direct Debit and Gift Aid options.
Platform Fund.
It is hoped that this the work on Platform 2 at Ruddington Fields will finally commence during 2023.
Cinema Coach Fund.
To be decided by consultation with the principal donors.
Carriage Restoration Fund.
Recently Introduced as a long-term aim to get our small fleet of Vacuum Braked carriages up to the safety and quality standards required by a commercially run Heritage Railway. As with the PD1 & Bus Appeal Fund, a designated fund will be established on the website and will contain both Direct Debit and Gift Aid options.
Financial review
There was a surplus of income over expenditure in the year of £12,661. Cash balances were comparable to those at the end of the previous year and amounted to £199,027. Net assets stood at £295,618, with £186,834 being in unrestricted funds.
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Draft Financial Statements at 03 May 2023 at 12:10:40 LNER (GC) HERITAGE TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023
Policy on reserves
It is the policy of the trust that unrestricted funds which have not been designated for a specific use should be maintained at a level the trustees consider adequate to allow for future funding requirements. For, example, future third party grants are usually contingent on matched funding for a successful outcome.
The trustess target (1) generating sufficient funds from subscriptions and unrestricted donations to cover approximately £6,000 of recurring costs, comprising the production and distribution of 'Driving Wheels' and the annual accountancy fees; and (2) maintaining a minimum of £20,000 within general unrestricted funds as a buffer against unforeseen events. Membership fees and unrestricted donations for the year amounted to £33,364 and general unrestricted funds stood at £147,500 at the end of the financial year, so both objectives were achieved.
Policy on investments
The trustees' policy on investment is a cautious one, with all investments held in cash apart from an inherited shareholding in HSBC plc, which had a quoted value of £6,499 at the balance sheet date.
Risk assessment
The trustees have assessed the major risks to which the trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
The trust is controlled by its governing document, a memorandum and articles of association and is a private company, incorporated in England and Wales, limited by guarantee, as defined by the Companies Act 2006.
The trustees, who are also the directors for the purpose of company law, and who served during the year were:
Lloyd Varley Arthur Barber Martin Roe Andrew Fillingham (Appointed 25 June 2022) Karen Sharpe (Appointed 25 June 2022)
Trustees are recruited and appointed from the current paid up membership, subject to ratification at the General Meeting.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The trustees' report was approved by the Board of Trustees.
.............................. Andrew Fillingham
Trustee
Date: .............................................
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Draft Financial Statements at 03 May 2023 at 12:10:40 LNER (GC) HERITAGE TRUST
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LNER (GC) HERITAGE TRUST
I report to the trustees on my examination of the financial statements of LNER (GC) Heritage Trust (the trust) for the year ended 31 January 2023.
Responsibilities and basis of report
As the trustees of the trust (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the trust are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the trust’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
1 accounting records were not kept in respect of the trust as required by section 386 of the 2006 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Melvin Bailey FCCA DChA Rogers Spencer Chartered Accountants Newstead House Pelham Road Nottingham NG5 1AP
Dated: .........................
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Draft Financial Statements at 03 May 2023 at 12:10:40 LNER (GC) HERITAGE TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JANUARY 2023
Current financial year
| Unrestricted Restricted funds funds 2023 2023 Notes £ £ Income from: Donations and legacies 2 31,123 1,215 Charitable activities 3 5,397 - Investments 4 1,464 - Total income 37,984 1,215 Expenditure on: Expenditure on charitable activities 5 24,847 2,254 Net gains/(losses) on investments 10 563 - Net movement in funds 13,700 (1,039) Fund balances at 1 February 2022 173,134 109,823 Fund balances at 31 January 2023 186,834 108,784 |
Total 2023 £ 32,338 5,397 1,464 39,199 27,101 563 12,661 282,957 295,618 |
Total 2022 £ 3,219 6,182 838 |
|---|---|---|
| 10,239 | ||
| 10,697 | ||
| 1,787 | ||
| 1,329 281,628 |
||
| 282,957 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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Draft Financial Statements at 03 May 2023 at 12:10:40 LNER (GC) HERITAGE TRUST
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JANUARY 2023
Prior financial year
| Unrestricted Restricted funds funds 2022 2022 Notes £ £ Income from: Donations and legacies 2 1,678 1,541 Charitable activities 3 6,182 - Investments 4 838 - Total income 8,698 1,541 Expenditure on: Expenditure on charitable activities 5 6,992 3,705 Net gains/(losses) on investments 10 1,787 - Net movement in funds 3,493 (2,164) Fund balances at 1 February 2021 169,641 111,987 Fund balances at 31 January 2022 173,134 109,823 |
Total 2022 £ 3,219 6,182 838 |
|---|---|
| 10,239 | |
| 10,697 | |
| 1,787 | |
| 1,329 281,628 |
|
| 282,957 |
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Draft Financial Statements at 03 May 2023 at 12:10:40 LNER (GC) HERITAGE TRUST
BALANCE SHEET
AS AT 31 JANUARY 2023
| Notes Fixed assets Tangible assets 11 Current assets Investments 12 Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current assets Total assets less current liabilities Income funds Restricted funds 14 Unrestricted funds Designated funds 15 General unrestricted funds |
2023 £ 6,499 199,027 205,526 (1,428) 39,334 147,500 |
£ 91,520 204,098 295,618 108,784 186,834 295,618 |
2022 £ 5,936 184,675 190,611 (1,428) 103,997 69,137 |
£ 93,774 189,183 |
|---|---|---|---|---|
| 282,957 | ||||
| 109,823 173,134 |
||||
| 282,957 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 January 2023.
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on .........................
..............................
Martin Roe
Trustee
Company Registration No. 3837779
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Draft Financial Statements at 03 May 2023 at 12:10:40 LNER (GC) HERITAGE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023
1 Accounting policies
Charity information
LNER (GC) Heritage Trust is a private company limited by guarantee incorporated in England and Wales. Its registered office is at 4 Grange Avenue, Ruddington, Nottingham, NG11 6BD.
1.1 Accounting convention
The accounts have been prepared in accordance with the trust's governing document, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The trust is a Public Benefit Entity as defined by FRS 102.
The trust has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The accounts are prepared in sterling, which is the functional currency of the trust. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Designated funds comprise otherwise unrestricted funds which have been set aside, at the discretion of the trustees, for specific purposes. The purposes and uses of the designated funds are set out in the notes to the accounts.
Restricted funds are subject to specific conditions as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
1.4 Income
Income is recognised when the trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the trust has been notified of the donation, unless performance conditions require deferral of the amount.
Legacies are recognised on receipt or otherwise if the trust has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
1.5 Expenditure
Liabilities are recognised at the point at which payment becomes unconditional.
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Draft Financial Statements at 03 May 2023 at 12:10:40 LNER (GC) HERITAGE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023
1 Accounting policies
(Continued)
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Agricultural land Not depreciated PD1 Leyland bus 20% on written-down value Fixtures and fittings 25% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Impairment of fixed assets
At each reporting end date, the trust reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Other financial assets
Investments in publicly listed UK companies are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in net income/(expenditure).
1.8 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the trust is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2 Donations and legacies
| Unrestricted | Restricted | Total | Total | |
|---|---|---|---|---|
| funds | funds | 2023 | 2022 | |
| £ | £ | £ | £ | |
| Donations | 6,123 | 1,215 | 7,338 | 3,219 |
| Other | 25,000 | - | 25,000 | - |
The split between unrestricted and restricted donations for the year ended 31 January 2022 was £1,678 and £1,541 respectively.
The £25,000 shown above was a bequest from the estate of the late S J Beelby.
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Draft Financial Statements at 03 May 2023 at 12:10:40 LNER (GC) HERITAGE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023
3 Charitable activities
| Subscriptions (unrestricted) 4 Investments Rental from agricultural lease Dividend received - HSBC Interest receivable Investment income was unrestricted in both years. 5 Expenditure on charitable activities PD1 bus (restricted funds) Printing - "Driving wheels" "Driving wheels" postage Membership postage Stationery - membership Bank charges Fees, subscriptions and sundries Grant funding of activities (see note 6) Share of governance costs (see note 7) |
|
|---|---|
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Draft Financial Statements at 03 May 2023 at 12:10:40 LNER (GC) HERITAGE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023
6 Grants to GCRN
| A60 bridge restoration Hotchley Hill Box Lamp hut Fire extinguishers Security door |
2023 £ 10,000 2,471 2,800 2,349 814 18,434 |
2022 £ - 1,251 - - - |
|---|---|---|
| 1,251 |
All of the grants payable were in support of infrastructure projects being undertaken by Great Central Railway Nottingham Ltd.
7 Governance costs
| Independent examiner's fee | 2023 £ 1,470 1,470 |
2022 £ 1,448 |
|---|---|---|
| 1,448 |
8 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the trust during the year.
9 Employees
The average monthly number of employees during the year was:
| 2023 | 2022 | |
|---|---|---|
| Number | Number | |
| Total | - | - |
There were no employees whose annual remuneration was more than £60,000.
10 Net gains/(losses) on investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2023 | 2022 | |
| £ | £ | |
| Revaluation of investments | 563 | 1,787 |
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Draft Financial Statements at 03 May 2023 at 12:10:40 LNER (GC) HERITAGE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023
| 11 Tangible fixed assets Agricultural land PD1 Leyland bus Fixtures and fittings £ £ £ Cost At 1 February 2022 82,500 34,406 146 At 31 January 2023 82,500 34,406 146 Depreciation and impairment At 1 February 2022 - 23,135 143 Depreciation charged in the year - 2,254 - At 31 January 2023 - 25,389 143 Carrying amount At 31 January 2023 82,500 9,017 3 At 31 January 2022 82,500 11,271 3 12 Current asset investments 2023 £ Investments - ordinary shares in HSBC plc at market value 6,499 13 Creditors: amounts falling due within one year 2023 £ Accrued expenses - independent examiner's fee 1,428 |
Total £ 117,052 |
|---|---|
| 117,052 | |
| 23,278 2,254 |
|
| 25,532 | |
| 91,520 | |
| 93,774 | |
| 2022 £ 5,936 |
|
| 2022 £ 1,428 |
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Draft Financial Statements at 03 May 2023 at 12:10:40 LNER (GC) HERITAGE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023
14 Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
| Movement in funds | Movement in funds | Movement in funds | Movement in funds | ||||
|---|---|---|---|---|---|---|---|
| Balance at | Incoming | Resources | Balance at | Incoming | Resources | Balance at | |
| 1 February | resources | expended | 1 February | resources | expended | 31 January | |
| 2021 | 2022 | 2023 | |||||
| £ | £ | £ | £ | £ | £ | £ | |
| Platform | |||||||
| appeal | 3,306 | 431 | - | 3,737 | 270 | - | 4,007 |
| Mainline | |||||||
| appeal | 15,602 | 1,010 | - | 16,612 | 945 | - | 17,557 |
| PD1 bus | 17,901 | 100 | (3,705) | 14,296 | - | (2,254) | 12,042 |
| John A | |||||||
| Wilson - | |||||||
| Refreshment | |||||||
| Tea Room | 75,178 | - | - | 75,178 | - | - | 75,178 |
| 111,987 | 1,541 | (3,705) | 109,823 | 1,215 | (2,254) | 108,784 |
The Platform Appeal Fund was reserved for the restoration of Platform 2 at Ruddington Fields.
The Mainline Appeal Fund is reserved for infrastructure (not maintenance) projects on the mainline.
The PD1 Bus Fund comprises capitalized expenditure (less depreciation) of £9,017 and cash of £3,024.
The John A Wilson - Refreshment Tea Room Fund is reserved for building a tearoom and conveniences at Ruddington Fields.
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Draft Financial Statements at 03 May 2023 at 12:10:40 LNER (GC) HERITAGE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023
15 Designated funds
| Designated funds | |||
|---|---|---|---|
| Movement in funds Balance at 1 February 2021 Incoming resources Resources expended Balance at 1 February 2022 r £ £ £ £ Geoff Baker estate 15,754 - - 15,754 Hotchley Hill Signal Box 5,557 560 (1,251) 4,866 Rushcliffe Halt Footbridge - - - 400 Agricultural land 82,500 - - 82,500 Cine Coach 110 120 - 230 Rushcliffe Halt - 247 - 247 104,321 927 (1,251) 103,997 |
Movement in funds Incoming esources Resources expended £ £ - - 26,160 (8,433) - - - - 110 - - - 26,270 (8,433) |
Transfers Balance at 31 January 2023 £ £ - 15,754 - 22,593 (400) - (82,500) - - 340 400 647 (82,500) 39,334 |
|
| 39,334 |
Designated funds are otherwise unrestricted funds set aside from the general fund at the discretion of the trustees.
The agricultural land is a bequest made several years ago which currently brings in an annual rental of £642 and is not, as such, designated for a specific purpose. Accordingly, the trustees have decided to move this asset to the general unrestricted fund.
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Draft Financial Statements at 03 May 2023 at 12:10:40 LNER (GC) HERITAGE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023
| 16 Analysis of net assets between funds Unrestricted funds Restricted funds 2023 2023 £ £ Fund balances at 31 January 2023 are represented by: Tangible assets 82,503 9,017 Current assets/(liabilities) 104,331 99,767 186,834 108,784 |
Total Unrestricted funds Restricted funds 2023 2022 2022 £ £ £ 91,520 82,503 11,271 204,098 90,631 98,552 295,618 173,134 109,823 |
Total 2022 £ 93,774 189,183 |
|---|---|---|
| 282,957 |
17 Related party transactions
There were no disclosable related party transactions during the year (2022 - none).
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