2021-01-31-accounts

Contents			Page
Charity Information
Chairman's Report			4-6
Directors' Report			7-12
Independent Auditors'	Report		13-16
Consolidated Statement	of Financial Activities		17
Consolidated Balance Sheet			18
Charity Balance Sheet			19
Consolidated Cashf low	Statement	and Notes	20-21
Notes to the Financial Statements			22-37

Total consolidated funds at 31January 2021	Total consolidated funds at 31January 2021	6,006,335
Less:—
Tangible Fixed assets		5,429,883
Fixed asset	investments	3,540
Restricted	funds held in bank balances	277,413
Designated	funds	380,149
		(84,650)

			Unrestricted	Restricted
			funds	funds	Total	Total
		Notes	2021	2021	2021	2020
Incoming Resources
Voluntary Income:
Appeals, donations, legacies and covenants			660,444	86,839	747,283	287,834
Grant income				5,400	5,400
Activities for generating	funds:
Membership subscriptions			38,414		38,414	39,945
Fund raising and other income			24,297		24,297	36,828
Trading income			996,060		996,060	3,450,735
Investment income			984	59	1,043	3,281
Government grants			295,668		295,668
Total Incoming Resources		2	2,015,867	92,298	2,108,165	3,818,623
Resources Expended
Cost ofgenerating funds
Trading expenses			3,091,890		3,091,890	3,264,741
Fundraising costs			24,116		24,116	9,403
Charitable activities			124,007	73,376	197,383	254,279
Total Resources Expended		5	3,240,013	73,376	3,313,389	3,528,423
Net Incoming Resources			(1,224,146)	18,922	(1,205,224)	290,200
Revaluation adjustment			(2,879)		(2,879)
Transfers between funds
Net movement in funds			(1,227,025)	18,922	(1,208,103)	290,200
Funds at 1February 2020			6,659,836	554,602	7,214,438	6,924,238
Funds at 31January 2021		14,15	5,432,811	573,524	6,006,335	7,214,438

				2021	2020
				E	E
Fixed Assets			Notes
Tangible Fixed Assets			7	5,429,883	6,412,517
Fixed asset investments		- listed	9	3,540	6,419
Totalfixed assets				5,433,423	6,418,936
Current Assets
Stocks			10	91,304	84,910
Debtors and prepayments			11	245,907	130,626
Cash at bank and in hand				975,673	1,025,125
				1,312,884	1,240,661
Creditors: Amounts	falling
due within one year
Creditors and accruals			12	(441,048)	(383,769)
Net Current Assets				871,836	856,892
Total assets less current		liabilities		6 305 259	7,275 828
Creditors: Amounts	falling due after more than one year		12	(298,924)	(61,390)
Net Assets
Unrestricted Funds;
General funds				4,681,461	6,059,419
Designated funds				380,149	406,021
Revaluation funds				371,202	371,202
			14	5,432,811	6,836,642
Restricted funds			14	573,524	377,796
Total funds			15	6,006335	7 214438

				2021	2020
			Notes	f	6
Fixed Assets
Tangible Fixed Assets				982,190	954,520
Fixed asset investments		- listed		3,540	6,419
investment in subsidiaries				470,605	470,605
Total fixed assets				1,456,335	1,431,544
Current Assets
Stocks			10
Debtors and prepayments			11	799,881	155,224
Cash at bank and in hand				690,001	973,600
				1,489,882	1,128,824
Creditors: Amounts	falling
due within one year
Creditors and accruals			12	(179039)	(54251)
Net Current Assets				1,360,843	1,074,573
Total assets less current		llablgtles		2,817,178	2,506,117
Creditors: Amounts	faging due after more than one year		12	(63,124)	(61,390)
Net Assets				2,754,054	2,444,727
Unrestricted Funds;
General funds				1,800,382	1,660,911
Designated funds				380,149	406,021
Revaluation funds
			14	2,180,531	2,066,932
Restricted funds			14	573,524	377,795
Total funds			15	2,754,055	2,444,727

				Note	2021	2020
					6	6
Net cash flows from operating		activities			200,232	314,346
Cash flows from investing	activities
Purchase ofequipment					(209,323)	(622,182)
Interest received					1,043	3,281
Proceeds from sale offixed assets						59,091
(Gains)/Losses on revaluation		of investments			2,879
Net cash flows from investing		activities			(205,401)	(559,810)
Cash flows from financing	activities
Capital repayment of Hire	Purchase leases				(14,415)	(14,804)
New loans in the year					150,000	40,000
Interest paid					(1,800)	(1,962)
Loans repaid
Net cash flows from financing		activities			133,785	23,234
Net increase/(decrease)	in cash and cash equivalents				128,617	222,230)
Cash and cash equivalents	at the beginning		ofthe year		1,025,125	1,247,355
Cash and cash equivalents	at	the end ofthe year			1,153,742	1,025,125
Reconciliation to cash at	bank and in hand:
Cash at bank and in hand					975,673	1,025,125
Bank ove rd rafts
Cash and cash equivalents					975,673	1,025 125

1Cash flows from op	erating a	ctivities
				2021	2020
				f	f
Net Surplus/(Deficit)				(1,205,224)	290,200
Adjustment for;
Depreciation charges				363,282	211,279
(Gains)/Losses on revaluation		of investments		(2,879)
Investment income				(1,043)	(3,281)
Interest paid				1,800	1,962
Impairment losses				1,006,496
(Gain)/loss on disposal offixed assets				250	(12,311)
Cash flows before movement		in working	capital	162,682	487,849
(Increase) / Decrease	in stock			(6,394)	8,471
(Increase) /Decrease	in debtors			(115,281)	18,478
Increase / (Decrease)	in creditors			159,226	(200,452)
Cash generated by operations				200,232	314346

2.Incoming resources	2.Incoming resources				Unrestricted	Restricted	Tota I	Total
					Funds	Funds	2021	2020
					2021	2021
						E
Voluntary income	(Trust)
Appeals, donations,	legacies and covenants				660,444	86,839	747,283	287,834
Grant income						5,400	5,400
Membership subscriptions					38,414		38,414	39,945
Fundraising and other income					24,297		24,297	36,828
Investment income					984	59	1,043	3,281
Total voluntary income		from	Trust		724,139	92,298	816,437	367,888
Activities for generating		funds (Subsidiary		Company)
Heritage passenger	fare income				732,096		732,096	2,718,382
Wareham fare income
Shop income					57,128		57,128	181,798
Catering income					17,578		17,578	294,275
Driver experience	days				4,524		4,524	23,680
Other income					122,853		122,853	149,792
Insurance claims
Revenue grants					61,881		61,881	82,808
Government grants					295,668		295,668
Total income from	activities		in subsidiary	company	1,291,728		1,291,728	3,450,735
Total consolidated	incoming		resources		2 015867	92 298	2 108 165	3818623

				2021	2020
				E	E
Turnover				1216060	3,437,352
Cost ofsales				(466,657)	(1,253,782)
Gross profit				749,403	2p183,570
Administrative	expenses			(1,537,457)	(1,966,769)
Operating profit				(788,054)	216,801
Government	grants			295,668
Interest payable				(9,931)	(1,962)
Interest receivable				4,526	12,745
Loss on sale	offixed	asset			12,311
Less: Profit on ordinary			activities	(497,791)	239,895
Retained profit/(loss)		for the year		497791	239,895
Net assets				1,132,326	1630,117

			Unrestricted	Restricted
			Funds	Funds	Total
		Notes	2020	2020	2020	2019
			f	E	f	E
Incoming Resources
Voluntary Income:
Appeals, donations, legacies and covenants			243,693	44,141	287,834	473,740
Grant income			(954)	954
Activities for generating	funds:
Membership subscriptions			39,945		39,945	40,791
Fund raising and other income			36,828		36,828	23,791
Trading income			3,450,735		3,450,735	2,884,582
Investment income			3,121	160	3,281	2,467
Total Incoming Resources			3,773,368	45,255	3,818,623	3,425,371
Resources Expended
Cost ofgenerating funds
Trading expenses			3,264,741		3,264,741	3,227,083
Fundraising costs			9,403		9,403	5,194
Charitable activities			221,122	33,157	254,279	241,007
Total Resources Expended			3,495,266	33,157	3,528,423	3,473,284
Net Incoming Resources			278,102	12,098	290,200	(47,913)
Revaluation adjustment
Transfers between funds			18,375	(18,375)
Net movement in funds			296,477	(6,277)	290,200	(47,913)
Funds at 1January 2019			6,540,165	384,073	6,924,238	6,972,151
Funds at 31January 2020		14,15	6836642	377796	7 214438	6,924 238

5.Total Resources Expe	nded
		Premises &		Admin,
		railway	running	salaries and
			costs	other	Dep'n	Total 2021	Total 2020
					f	f	f
Charitable Activities:
Rent			65,764			65,764	128,347
Rates & utilities			10,587			10,587	19,181
Printing &.stationery				33,844		33,844	31,443
Repairs &other			6,181	60,652	7,141	73,974	56,570
Auditors remuneration	(audit)			3,760		3,760	3,760
Auditors remuneration	(non audit)			5,594		5,594	4,529
Other legal and professional				3,860		3,860	10,449
Total charitable activities			82,532	107,710	7,141	197,383	254,279
Costs ofgenerating funds:
Fundraising costs				24,116		24,116	9,403
Trading costs (subsidiary	only)		804,645	2,109,174	178,071	3,091,890	3,264,741
Total cost ofgenerating	funds		804,645	2,133,290	178,071	3,116,006	3,274,144
Total resources expended			887177	2 241000	185212	3313389	3528,423

6.Staff costs
	Trust and	Subsidiary
	2021		2020
	f		E
Staff costs
Wages and salaries Social security costs	901,122 68,208	1,043,328 80,001
Pension costs	15,502		16,976
	984832	1	140305

								ta I0t-	W	Cl	m m CAo Al	0 U1 AI	D ID Clo	D ID Clo				Cl	Cl	AI CQ m ID tfl			mI CD CY	mI CD CY		tfl CD At		ID CO
								I- Ol 0		o Cl	0	o IA AJ	m 0 O I CA				Cl C3										0 Ar ifl rll	CYI CO IO0 Gl
							Ql'000	0 0	w																			+ QJ I CD
					0		DA 0	00 LI 0	W										I	I								00 Gl
					ta CL	0	ra	Ql ED.											CY Ctl CJ									QJ3
																												Ql
								OC																				Ql
																												+
							Clba ta 0				o	0 IA At		tYI 0 O C/I			Cl Alm CO									ct C/I CQ		I 10 IU E QJ
																												Gl
							'00 '0c	A 00											O 1 m	IA ID ID				0 C30 tfl			Ifl At Al	bQ ta to Vt CD		c0 Yo CO
																														LI
								Cl																				IJ		tU
0 0 th IJ '0 ra cl + '0 0-'0 Ifl0 CO 0 IO GJ 3 J= LA +0		AQ 03 L 0 Gl 0 UJ I CO QJ					'0 0 IU IU IL ta 0I- c N L	'0 0 CL E PJ 0o 't/ U	W	Clct Cl Cfl m o	CQ Ul Al tfl 010 ID						Cl Cl C3 Cl m AJ Cl ID OI		ID ID CD CY/I	O I0 IXI				od		Cl C3ocl m Cl ID CA	Cl Cl C3 m m C3 Al	0. Ql Gl '13 'l3 IU Vt Gl ta 0 tJ		CL Ql 'l3'0 Ql + CO E tJ ta 40 IO I/I QJ Gl Gl +
		IU
	Ih QJ 0Z	+ L0			c Cl0 ta E	0 »5g 3				o									CO Al	Ar ID m				cl Cl Cl C3 'cr				IID CD		't3 Gt 0 Ql
					Gl
				ta0 Ih	CL	o	'0 c Ia lh E ba 0. 0 0' UJ			CD m m									I/I CQo m								CJ Cl ffl	IJJ0 AJ C3		c0 +ta ta QJ Ql
				IA	0 D.	Cl 0 /E 0 ra	'0	Cl E 0		Cfl mm ID	CY AJ						CO CI		ul II1	d 0				C3 CO I/I C3 ID		Al Cl Cl m		ta +ta		+ +Yl0 LI CO
								CT																						Ll
																												CO		0
							L5 ra AD			m					o00		0 tYI											0		Vl
							3.			CO CQ							m Cl									tfl m CI		E DO0		ca0 CU'0
			IU				ba tU0 00 0			CQ m CA							CO cl CJ		0 tYI	Vm				m I31 Ol ra m				COIJ Gl 0		IJ0 CO Gl
			N'0																									CO		ta
			Gl ICtc IU bQ0 ta							Cl C3 Ct Z	c0 Cl		ta 0 Q- 0	5c E to o. E	0	Ql ta'0 tU Ql Cl. E0IJ ca m		c o ta Ql QL 0	0 o Cl U m YC	c Qt Ql DD c IJ	3	0 Ql ra c E IU	Dl 13	At CI Alc Dl tfl	Ql Ia JC00 CQ + QlZ	Al Cl Al ta tfl	Cl C3 m	QJ Ql '13 Ll	AI C3	Gl bO CO + Cl

Heritage	Assets	2021 E	2020 f		2019 E	2018 f	2016 f
Additions	- Funded	245,000	212,067		201,508	200,222	99,801
Additions	— Donated						30,000
Disposals	(net book value)	(250)	(32,500)	—	181,533
Proceeds	from disposals				34,000
Impairment to Heritage assets		(37,003)

An extract from the Bal	ance She	et ofthe Swanage Railway Company Li	mited at 31January 2021 is as f	ollows:—
			2021	2020
			E	E
Fixed assets			4,447,694	5,457,998
Current assets			416,785	206,836
Current liabilities			(1,029,718)	(564,351)
Total assets less current	liabilities		3,834,761	5,100,483
Creditors due in more than one		year	(2,702,435)	(3,470,366)
			1132326	1630117
Called up share capital Called up share capital Revaluation reserve	-owned —owned	by trust see page 18 by members	470,605 16,358 371,202	470,605 16,358 371,202
I'rofit and loss account			274,161	771,952
			1132326	1630 117

9.INVESTMENTS IN LISTED ENTITIES
	f
Market value at 1February 2020	6,419
Additions
Disposals
Net investment (losses)/gains	(2,879)
Market value at 31January 2021	3,540

10.STOCKS
					Trust and Subsidiary		Trust
					2021	2020	2021	2020
					f	f	f	f
Shop stocks	for resale				34,423	27,916
Catering stock					3,673	7,359
Consumable	stocks				47,134	43,711
Special events		stock			5,984	5,893
Driver experience					90	31
					91,304	84910
11. DEBTORS AND PREPAYMENTS
					Trust and Subsidiary		Trust
					2021	2020	2021	2020
					f	f	f	f
Trade debtors					17,890	13,964	22	1,551
Loan to the	Swanage		Railway Company	Limited			593,788	95,000
Other debtors					206,927	65,088	189,702	27,035
Prepayments		and accrued income			21,090 245,907	51,574 130626	16,369 799,881	31,638 155224

								Trust and Subsidiary	Trust and Subsidiary	Trust and Subsidiary	Trust
Due within one year								2021 f		2020 f	2021 f	2020 f
Trade creditors								129,387		177,562	77,185	31,673
Taxation and social security								16,176		21,774
Life membership equalisation			account					9,966		9,870	9,966	9,870
Hire purchase creditors										14,415
Other creditors, accruais, deferred				income				285,519		160,148	41,888	12,708
								441048		383769	129039	54,251
Deferred income relates to		ticket sales in				advance	for events	taking place after the year end.
								Trust and Subsidiary			Trust
Due more than one year								2021 f		2020 f	2021 f	2020 f
Members Loans								8,000		8,000	8,000	8,000
Hire purchase creditors	(1-3years)
Bankloans								150,000
Life membership equalisation			account					51,892		50,158	51,892	50,158
Other creditors and accruals								89,032		3,232	3,232	3,232
								298924		61390	63 124	61390
Hire purchase creditors	in the		prior	year were in			respect oftwo hire purchase			contracts	for motor vehicles, both
expiring in three years	and	repayable			in monthly		installments.	The creditor	is	measured	at the present value of
future lease payments.
13.LIFE MEMBERSHIP
LifeTime membership	subscriptions				are credited		to the accounts and released			over ten	years.
The movements during	the	year were:—
											2021	2020
											f	f
Ordinary Life, Lifetime	Travel		and Premier			Life					60,028	41,898
Memberships brought	forward
New memberships in the year											13,000	28,000
Premier life memberships		released			over 10years						(3,540)	(3,540)
Life member subscriptions		released			over	10years					(7,630)	(6,330)
Balance of life memberships		at close ofyear									61,858	60,028
Shown in;—
Creditors under 1year											9,966	9,870
Creditors over 1year											51,892	50,158
											61858	60 028

14. FUNDS
The balance ofthe unrestricted	fund may be	reconciled	as	follows:—
Opening balance at 1February 2020		Incoming Resources		Expenditure	Transfers	Gains/ (losses) on revaluation	Closing balance at 31January 2021
	6	6		6	6	f	6
General funds - Charity	1,543,986	776,191		(446,865)	(70,051)	(2,879)	1,800,382
Designated funds for;
Restoration	43,871	21,300		(4,029)	6,264		67,406
Other capital expenditure	32,052	2,500		(600)	55,600		89,552
Education	52,559			(13,442)			39,117
Other projects 4TC designated	32,032 9,323			(999)	(813) 9,000		30,220 18,323
T3 Restoration	23,052						23,052
Carriage shed	153,250			(40,772)			112,478
Total designated	346,139	23,800		(59,841)	70,051		380,149
Resricted funds;
Mining Museum Group	172,225	8,830		(49,363)			131,692
Swanage 4TC Group	205,571	16,738		(32)			222,277
T3 Restoration	174,338	45,491		(274)			219,555
Carriage shed	2,468	21,239		(23,707)
Total restricted	554,602	92,298		(73,376)			573,524
Total Charity Funds	2 444 727	892,289		580,082		2 879	2 754,055
General funds - Company	4,398,506	1,215,876		(2,733,307)			2,881,075
Revaluation reserve	371,202						371,202
Total - Consolidated	7,214435	2,108 165		3313389		2,879	6 006 332

The balance ofth	e unrestric	ted fund may b	e reconciled as	follows:—
		Opening				Gains/	Closing
		balance at 1February 2019	Incoming Resources	Expenditure	Transfers	(losses) on revaluation	balance at 31January 2020
		E	E	E	E	f	E
General funds - Charity		1,673,619	278,552	(290,877)	(117,308)		1,543,986
Designated funds for;
Restoration		149,842	8,530	(14,501)	(100,000)		43,871
Other capital expenditure		16,807	15,245				32,052
Education		21,500		(28,941)	60,000		52,559
Other projects		56,532		(24,500)			32,032
4TC designated					9,323		9,323
T3 Restoration		3,350			19,702		23,052
Carriage shed		137,398			15,852		153,250
Total designated		385,429	23,775	(67,942)	4,877		346,139
Resricted funds;
Project Wareham	Appeal		4,516	(4,516)
Mining Museum	Group	169,084	30,474	(27,333)			172,225
Swanage 4TC Group		84,183	10,265	(1,308)	112,431		205,571
T3 Restoration		47,406	130,314	(3,382)			174,338
Carriage shed			3,168	(700)			2,468
Total restricted		300,673	178,737	(37,239)	112,431		554,602
Total Charity Funds		2 359 721	481064	396058			2 444 727
General funds -	Company	4,193,315	3,337,562	(3,132,368)			4,398,509
Revaluation reserve		371,202					371,202
Total- Consolidated		6924 238	3,818,626	3,528 426			7214438

		Fixed Assets	Bank	Current Assets	Creditors &1year	Creditors &1year	Total
		f	f	f	f	f	f
General funds		4,789,253	318,111	308,903	(440,883)	(293,924)	4,681,460
Designated	funds		380,149				380,149
Restricted	funds	272,968	277,413	28,308	(165)	(5,000)	573,524
Revaluation		371,202					371,202
		5 433423	975,673	337211	441048	(298,924)	6006,335
15. RECONCILIATION		OF TOTAL FUNDS	TO NET ASSETS	-comparative
			Fixed Assets	Bank	Assets	Liabilities	Total
			f	f	f	f	f
General funds			5,774,766	537,419	187,228	(439,994)	6,059,419
Designated	funds			406,021			406,021
Restricted	funds		272,968	81,685	28,308	(5,165)	377,796
Revaluation			371,202				371,202
			6418936	1025 125	215 536	445 159	7 214,438

		Trust and	Subsidiary	Trust
		2021	2020	2021	2020
		f	f	f	f
Lease expiring
-in under 1year		420,953	420,953	117,392	117,392
-after 1year but within	5 years	1,270,642	1,270,642	98,638	98,638
-after 5 years		6,122,089	6,122,089
		7 813684	7813684	216,030	216030