2022-01-31-accounts - The Swanage Railway Trust

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Contents				Page
Charity Information
Chairman's Report				4-7
Directors' Report				8-13
Independent Auditors'	Report			14-17
Consolidated Statement	of Financial		Activities	18
Consolidated Balance Sheet				19
Charity Balance Sheet				20
Consolidated Cashf low	Statement	and Notes		21-22
Notes to the Financial Statements				23-38

Total consolidated funds at 31January 2022	Total consolidated funds at 31January 2022	Total consolidated funds at 31January 2022	6,513,748
Less;—
Tangible Fixed assets			5,437,437
Fixed asset	investments		4,586
Restricted	funds held	in bank balances	310,632
Designated	funds		596,742
			164,351

			Unrestricted	Restricted
			funds	funds	Total	Total
		Notes	2022	2022	2022	2021
Incoming Resources
Voluntary Income:
Appeals, donations, legacies and covenants			214,156	197,461	411,617	747,283
Grant income			469,962	23,505	493,467	5,400
Activities for generating	funds:
Membership subscriptions			39,263		39,263	38,414
Fund raising and other income			24,501		24,501	24,297
Trading income			2,350,587		2,350,587	996,060
Investment income			69		75	1,043
Government grants			58,252		58,252	295,668
Total Incoming Resources		2	3,156,790	220,972	3,377,762	2,108,165
Resources Expended
Cost ofgenerating funds
Trading expenses			2,543,271		2,543,271	3,091,890
Fundra ising costs			8,952		8,952	24,116
Charitable activities			155,731	21,038	176,769	197,383
Total Resources Expended		5	2,707,954	21,038	2,728,992	3,313,389
Net Incoming Resources			448,836	199,934	648,770	(1,205,224
Provision for deferred taxation			(142,403)		(142,403)
Revaluation adjustment			1,046		1,046	(2,879)
Transfers between funds
Net movement in funds			307,479	199,934	507,413	(1,208,103)
Funds at 1February 2021			5,432,811	573,524	6,006,335	7,214,438
Funds at 31January 2022		14,15	5,740,290	773,458	6,513,748	6,006,335

						2022	2021
						E	E
Fixed Assets					Notes
Tangible Fixed Assets					7	5,437,437	5,429,883
Fixed asset investments		- listed			9	4,586	3,540
Totalflxed assets						5,442,023	5,433,423
Current Assets
Stocks					10	73,237	91,304
Debtors and prepayments					11	102,783	245,907
Cash at bank and In	hand					1,902,491	975,673
						2,078,511	1,312,884
Creditors: Amounts	falling
due within one year
Creditors and accruals					12	529,674)	(441,048)
Net Current Assets						1,548,837	871,836
Total assets less current		liabilities				6990860	6 305259
Creditors: Amounts	falling		due after more	than one year	12	(334,709)	(298,924)
PROVISIONS FOR LIABILITIES						(142,403)
Net Assets						6513748	6 006 335
Unrestricted Funds;
General funds						4,772,346	4,681,461
Designated funds						596,742	380,149
Revaluation funds						371,202	371,202
					14	5,740,290	5,432,811
Restricted funds					14	773,458	573,524
Totalfunds					15	6513748	6006 335
REGISTERED CONIPANY		NUMBER: 04115126(England and Wales)
REGISTERED CHARITY NUMBER: 1087318
These financial statements			were approved	by the directors and authorised	for Issue on '	2.)	2022, and

		As at 31January 202	2
				2022	2021
			Notes	E	E
Fixed Assets
Tangible Fixed Assets				1,132,853	982,190
Fixed asset investments		-listed		4,586	3,540
Investment In subsidiaries				470,605	470,605
Total fixed assets				1,608,044	1,456,335
Current Assets
Stocks			10
Debtors and prepayments			11	172,622	799,881
Cash at bank and In hand				1,385,602	690,001
				1,558,224	1,489,882
Creditors: Amounts	faglng
due within one year
Creditors and accruals			12	(214,113)	(129,039)
Net Current Assets				1,344,111	1,360,843
Total assets less current		liabilities		2,952,155	2,817,178
Creditors: Amounts	falling due after more than one year		12	(53,076)	(63,124)
Net Assets				2p899p079	2p754p054
Unrestricted Funds;
Generalfunds				1,528,879	1,800,382
Designated funds				596,742	380,149
Revaluation funds
			14	2,125,621	2,180,531
Restricted funds			14	773,458	573,524
Total funds			14	2,899,079	2754055

					The Swanage	The Swanage
				Consolidated		Cashf low Statement
				For	the Year Ended 31January 2022
							Note	2022	2021
								E	f
Net cash flows	from operating		activities				1	1,055,428	22,163
Cash flows from investing		activities
Purchase of equipment								(225,474)	(209,323)
Interest received								75	1,043
Proceeds from	sale offixed assets							3,835
(Gains)/Losses	on revaluation		of investments					(1,046)	2,879
Net cash flows	from investing		activities					(222,610)	(205,401)
Cash flows from financing		activities
Capital repayment of Hire Purchase leases									(14,415)
New loans in the year								100,000	150,000
Interest paid								(6,000)	(1,800)
Loans repaid
Net cash flows	from financing		activities					94,000	133,785
Net increase/(decrease)		in cash and		cash	equivalents			926818	49,453
Cash and cash	equivalents	at the beginning			ofthe year			975,673	1,025,125
Cash and cash	equivalents	at	the end ofthe year					1,902,491	975,673
Reconciliation	to cash at	bank	and in hand:
Cash at bank and in hand								1,902,491	975,673
Bank overdrafts
Cash and cash	equivalents							1,902,491	975 673

1Cash flows from ope	rating	activities
			2022	2021
			E	E
Net Surplus/(Deficit)			648,770	(1,205,224)
Adjustment for;
Depreciation charges			167,916	185,212
Reclassification oftangible fixed assets			45,997
Gains/(Losses) on revaluation		of investments	1,046	(2,879)
Investment income			(75)	(1,043)
Interest paid			6,000	1,800
Impairment losses				1,006,496
(Gain)/loss on disposal	offixed assets		172	250
Cash flows before movement		in working capital	869,826	(15,388)
(Increase) / Decrease	in stock		18,067	(6,394)
(Increase) / Decrease	in debtors		143,124	(115,281)
Increase / (Decrease)	in creditors		24,411	159,227
Cash generated by operations			1,055,428	22,163

		At 1Feb		At 31Jan
		2021	Cash flows	2022
		E		E
Cash and cash equivalents
Cash at bank and	in hand	975,673	926,818	1,902,491
Debt
Falling due within	one year		(59,167)	(59,167)
Falling due after	one year	(158,000)	(40,833)	(198,833)
		817,673	826,818	1,644,491

2.Incoming resources	2.Incoming resources				Unrestricted	Restricted	Total	Total
					Funds	Funds	2022	2021
					2022	2022
					E	E
Voluntary income	(Trust)
Donations, legacies	and covenants				43,949	192,552	236,501	441,237
Gift aid					32,741	4,909	37,650	57,567
Legacies					137,066		137,066	248,479
Grant income						23,505	23,505	5,400
Membership subscriptions					39,263		39,263	38,414
Fundraising and other income					24,501		24,501	24,297
Investment income					69		75	1,043
Total voluntary income		from	Trust		277,589	220,972	498,561	816,437
Activities for generating		funds (Subsidiary		Company)
Heritage passenger	fare income				1,991,913		1,991,913	732,096
Wareham fare income
Shop income					115,647		115,647	57,128
Catering income					51,810		51,810	17,578
Driver experience	days							4,524
Other income					191,217		191,217	122,853
Insurance claims
Revenue grants					470,362		470,362	61,881
Government grants					58,252		58,252	295,668
Total income from	activities		in subsidiary	company	2,879,201		2,879,201	1,291,728
Total consolidated	incoming		resources		3 156790	220 972	3377762	2 108165

			2022	2021
			f	E
Turnover			3,032,881	1,216,060
Cost of sales			(789,069)	(466,657)
Gross profit			2,243,812	749,403
Administrative expenses			(1,689,843)	(1,537,457)
Operating profit			553,969	(788,054)
Government grants			58,252	295,668
Interest payable			(12,534)	(9,931)
Interest receivable			23	4
Otherincome				4,522
Net profit/ (loss) on	ordinary	activities	599,710	(497,791)
Less: Deferred taxation			(142,403)
Retained profit/(loss)	for the	year	457 307	497791
Net assets			1,589,633	1132326

			Unrestricted	Restricted
			Funds	Funds	Total
		Notes	2020	2020	2020	2019
			E	E	E	f
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	6836 642	377796	7 214438	6 924 238

5.Total	Resources Expe	nded
			Premises &		Admin,
			railway	running	salaries and
				costs	other	Dep'n	Total 2022	Tota I2021
						E	E	E
Charitable Activities:
Rent				77,951			77,951	128,347
Rates &	utilities			12,079			12,079	19,181
Printing	&stationery				33,878		33,878	31,443
Repairs	&other			12,521	24,361	7,685	44,567	56,570
Auditors	remuneration	(audit)			3,948		3,948	3,760
Auditors	remuneration	(non audit)			4,206		4,206	4,529
Other legal and professional					140		140	10,449
Total charitable activities				102,551	66,533	7,685	176,769	254,279
Costs of	generating funds:
Fundra ising costs					8,952		8,952	9,403
Trading	costs (subsidiary	only)		1,270,685	1,112,353	160,233	2,543,271	3,264,741
Total cost ofgenerating		funds	1,270,685		1,121,305	160,233	2,552,223	3,274,144
Total resources expended			1373236		1187838	167918	2 728992	3 528423

6.Staff costs
	Trust and Subsidiary
	2022	2021
	E	E
Staff costs
Wages and salaries	799,454	901,122
Social security costs	64,520	68,208
Pension costs	14,497	15,502
	878471	984832

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Heritage Assets	Heritage Assets	2022	2021	2020	2019	2018
		E	E	f	E	E
Additions	- Funded	154,696.00	245,000	212,067	201,508	200,222
Additions-	Donated
Disposals	(net book value)	(1,500)	(250)	(32,500)	(181,533)
Proceeds	from disposals				34,000
Impairment to Heritage assets		350	37003

An extract from the Bal	ance Sh	eet ofthe Swanage Railway Company Lim	ited at 31January 2022 is as foll	ows:—
			2022	2021
			f	E
Fixed assets			4,304,585	4,447,694
Current assets			656,003	416,785
Current liabilities			(603,854)	(1,029,718)
Total assets less current	liabilities		4,356,734	3,834,761
Creditors due in more than one		year	(2,624,698)	(2,702,435)
Provisions for liabilities			(142,403)
			1589633	1132326
Called up share capital	—owned	by trust see page 18	470,605	470,605
Called up share capital	—owned	by members	16,358	16,358
Revaluation reserve			371,202	371,202
Profit and loss account			731,468	274,161
			1589633	1132326

9. INVESTMENT	S IN LISTED ENTITIES
		f
Market value at 1February 2021		3,540
Additions
Disposals
Net investment	(losses)/gains	1,046
Market value at 31January 2022		4 686

10.STOCKS
					Trust and Subsidiary		Trust
					2022	2021	2022	2021
					f	f	f	f
Shop stocks	for resale				21,314	34,423
Catering stock					3,763	3,673
Consumable	stocks				44,582	47,134
Special events		stock			3,488	5,984
Driver experience					90	90
					73 237	91304
11.DEBTORS		AND PREPAYMENTS
					Trust and Subsidiary		Trust
					2022	2021	2022	2021
					f	f	f	f
Trade debtors					18,405	17,890	26	22
Loan to the	Swanage		Railway Company	Limited			135,719	593,788
Other debtors					69,435	206,927	34,000	189,702
Prepayments		and accrued income			14,943	21,090	2,877	16,369
					102783	245 907	172622	799881

			For the Year	Ended 31January 2022
12. CREDITORS	AND ACCRUALS
				Trust and Subsidiary		Trust
Due within one	year			2022	2021		2022	2021
				f	E		E	E
Trade creditors				191,663	129,387		149,856	77,185
Taxation and social security				19,996	16,176
Bankloans				54,167
Members loans				5,000			5,000
Life membership	equalisation	account		10,000	9,966		10,000	9,966
Other creditors,	accruals, deferred		income	248,848	285,519		49,257	41,888
				529 674	441048		214113	129039

				Trust and Subsidiary	Trust and Subsidiary
Due more	than	one year		2022	2021	2022	2021
				E	E	E	E
Members	Loans			3,000	8,000	3,000	8,000
Bankloans				195,833	150,000
Life membership		equalisation	account	47,858	51,892	47,858	51,892
Other creditors		and accruals		88,018	89,032	2,218	3,232
				334709	298924	53076	63 124

The mov	ements during the	year were:-
				2022	2021
				E	E
Ordinary	Life, Lifetime Travel and Premier		Life	61,858	60,028
Memberships brought forward
New memberships in the year				6,000	13,000
Premier	life memberships	released over 10years			(3,540)
Life member subscriptions		released over	10years	(10,000)	(7,630)
Balance	of life memberships	at close ofyear		57,858	61,858
Shown in:-
Creditors	under 1year			10,000	9,966
Creditors	over 1year			47,858	51,892
				57 858	61858

14. FUNDS
The balance ofthe unrestricted	fund may	be reconciled as	follows:—
	Opening	Incoming	Expenditure	Transfers	Gains/	Closing
balance at		Resources			(losses) on	balance at
1February					revaluation	31January
	2021					2022
	E	E	E	E	E	E
General funds - Charity	1,800,383	327,518	(383,088)	(216,980)	1,046	1,528,879
Designated funds for;
Restoration	67,406	12,195	(9,951)			69,650
Other capital expenditure	89,552		(2,098)	(23,147)		64,307
Other projects	69,337		(532)			68,805
4TC designated	18,323					18,323
T3 Restoration	23,052			95,000		118,052
Carriage shed	112,478			95,127		207,605
Strategic reserves				50,000		50,000
Total designated	380,148	12,195	(12,581)	216,980		596,742
Resricted funds;
Museum Group	131,692	37,962	(17,427)			152,227
Swanage 4TC Group	222,277	18,435	(1,575)			239,137
T3 Restoration	219,555	87,468	(1,447)			305,576
Carriage shed		77,107	(589)			76,518
Total restricted	573,524	220,972	(21,038)			773,458
Total Charity Funds	2 754 055	560 685	416707		1046	2899079
General funds - Company	2,881,078	2,817,077	(2,454,689)			3,243,467
Revaluation reserve	371,202					371,202
Total - Consolidated	6006 335	3377762	2 871396		1046	6513748

15. RECON	CILIATION	OF TOTAL	FUNDS	TO NET ASSETS
			Fixed	Bank	Current Assets	Creditors	Creditors	Total
			Assets			&1year	&1year
			E	E	E	E	E	E
General funds		4,410,532		1,004,954	175,888	(485,196)	(334,709)	4,771,469
Designated	funds		9,837	586,905				596,742
Restricted	funds	650,452		310,632	132	(186,881)		773,458
Revaluation		371,202						371,202
		5 442 023		1902491	176020	672 077	334709	6513748
15. RECONCILIATION		OF TOTAL	FUNDS	TO NET ASSETS -	comparative
				Fixed Assets	Bank	Assets	Liabilities	Total
				f	E	E	E	E
General funds				4,789,253	318,111	308,903	(734,807)	4,681,460
Designated	funds				380,149			380,149
Restricted	funds			272,968	277,413	28,308	(5,165)	573,524
Revaluation				371,202				371,202
				5 433 423	975 673	337211	739972	6 006 335

	Trust and Subsidiary	Trust and Subsidiary	Trust
	2022	2021	2022	2021
	f	f	E	E
Lease expiring
-in under 1year	296,501	420,953		22,757
-after 1year but within 5 years	1,482,505	1,270,642
-after 5years	5,375,087	6,122,089
	7 154093	7813684		22 757