2023-01-31-accounts

Reference and Administrative Details
Trustees' Report	2 to9
Independent Auditors' Report	loto 13
Consolidated Statement ofFinancial Activities	14
Consolidated Balance Sheet
Balance Sheet	16
Consolidated Statement ofCash Flows	17
Notes to the Financial Statements	18to 34

Chairman		D GVestry
Trustees		KFMHayes
		RG WJones
		EJMann
		DH W Poulson
		CKTheobald
		D G Ventry
Secretary		AJSimner
Registered Office		Wharf Station
		Tywyn
		Gwynedd
		LL369EY
Company Registration	Number	00511996
Charity Registration	Number	1089053
Auditor		McBrides Accountants	LLP
		Nexus House
		Cray Road
		Sidcup
		Kent
		DA14 5DA

				Unrestricted	Restricted	Total	Total
			Note	funds f	funds	2023 f	2022 f
Income and Endowments		from:
Donations, subscriptions		and
legacies				618,657	261,800	880,457	506,898
Charitable activities				721,779		721,779	640,077
Other trading activities				617,888		617,888	503,514
Investment income				963		963	11
Other income				12,799		12,799	99,525
Total income				1,972,086	261,800	2,233,886	1,750,025
Expenditure on:
Raising funds				(536,357)		(536,357)	(408,848)
Charitable activities				(846,549)	(339,756)	(1,186,305)	(971,822)
Total expenditure				(1,382,906)	~339,736)	~((,722,662	[1,380,670)
Net income/(expenditure)				589,180	(77,956)	511,224	369,355
Transfers between	funds			(24,965)	24,965
Net movement in funds				564,215	(52,991)	511,224	369,355
Reconciliation offunds
Total funds brought	forward			2,140,157	1,123,272	3,263,429	2,894,074
Total funds carried	forward		20	2,704,372	1,070,281	3,774,653	3,263,429

		(Registration numb Consolidated Balance Sheet	er: 00511996) as at31January	2023
				2023	2022
			Note
Fixed assets
Tangible assets			14	1,591,578	1,586,690
Heritage assets			15	363,463	379,953
				1,955,041	1,966,643
Current assets
Stocks			17	470,453	141,083
Debtors			18	178,598	77,994
Cash at bank	and in hand			1,357,515	1,178,323
				2,006,566	1,397,400
Creditors: Amounts		falling due within one year	19	(186,954)	(100,614)
Net current	assets			1,819,612	1,296,786
Net assets				3,774,653	3,263,429
Funds ofthe	group:
Restricted funds				1,070,281	1,123,272
Unrestricted	iacome	funds
Unrestricted	funds			2,704,372	2,140,157
Total funds			20	3,774,653	3,263,429

		Balance Sheet as at3	1January 2023
				2023	2022
			Note	8
Fixed assets
Tangible assets			14	472,189	480,432
Current assets
Debtors			18	35,916	38,135
Cash at boule	and in hand			1,044, 167	796,490
				1,080,083	834,625
Creditors: Amounts		falling due within one year	19	13,750)	(14,186)
Net current	assets			1,066,333	820,439
Net assets				1,538,522	1,300,871
Funds ofthe	charity:
Restricted funds				38,174	38,174
Unrestricted	income	funds
Unrestricted	funds			1,500,348	1,262,697
Total funds			20	1,538,522	1,300,871

Consolidated S	t	atement of	Cash Flows f	or the Year Ende	d 31January	2023
					2023	2022
				Note		f.
Cash flows from operating	activities
Net movement in funds					511,224	369,355
Adjustments to cash ilows from non-cash Depreciation Investment income			items		89,555 (963)	81,026 ~lli
					599,816	450,370
Working capital adjustments
Increase in stocks				17	(329,370)	(13,971)
Increase in debtors Increase/(decrease) in creditors				18 19	(100,604) 86,340	(55,113) ~24,064
Net cash flows from operating		activities			256,182	357,222
Cash flows from investing activities
Interest receivable snd similar		income		6	963	11
Purchase oftangible fixed assets				14	(77,953)	(69,034)
Net cash flows fiom investing		activities			(76,990)	(69,023)
Net increase in cash and cash	equivalents				179,192	288,199
Cash and cash equivalents at	1	February			1,178,323	890,124
Cash and cash equivalents at	31January				1,357515	1,178,323

Income from do	nations	and legacies
			Unrestricted
			funds
				Restricted	Total	Total
			General	funds	2023 8	2022f
General donations	and legacies		424,925	14,592	439,517	315,452
Tax recoverable			18,732		18,732	41,234
Grants				247,208	247,208	150,212
			443,657	261,800	705,457	506,898
Income from charitable		activities
			Unrestricted
			funds
				Restricted	Total	Total
			General	funds	2023	2022f
Railway operations			721,779		721,779	640,077

7 Ot	her income
		Unrestricted
		funds
			Restricted	Total	Total
		General	funds	2023	2022
				8
Other	income	12,799		12,799	99,527
		12,799		12,799	99,527

8 Expe	nditure o	n charit	able activities
					Charitable	Total	Total
			Raising funds	Governance	activities	2023	2022
			8		g
Staff costs			237,798		593,157	830,955	643,400
Support	costs		22,044		362,787	384,831	375,479
Costofgoods sold			276,515			276,515	205,503
Railway	operating	costs			216,445	216,445	143,704
Auditors'	remuneration
for all services				13,916		13,916	12,584
			536,357	13,916	1,172,389	1,722,662	1,380,670

	Unrestricted
	funds
		Restricted	Total	Total
	General	funds	2023	2022
Rent, rates and insurance	27,803		27,803	28,953
Electricity, water and gas	52,397		52,397	51,636
Printing and stationery	7,810		7,810	4,768
Advertising and publicity	33,917		33,917	45,409
Postage and telephone	8,618		8,618	21,727
Bank and credit card charges	20,922		20,922	18,807
Cleaning and first aid	16,448		16,448	10,915
Accountancy so&ware and systems	22,300		22,300	21,100
Legal fees	6,313		6,313	16,321
HR consultancy	660		660	2,358
HRA subscription and meeting expenses	2,570		2,570	1,971
Grants payable	2,250		2,250	10,174
Messroom supplies and &ee
staff/volunteer drinks	4,804		4,804	2,676
Refuse collection and disposal	10,429		10,429	7,453
Premises licenses	250		250	250
Security and alarm	4,900		4,900	4,671
Consumables and disposables	13,735		13,735	9,775
Computer running expenses	22,588		22,588	22,859
Miscellaneous	33,803		33,803	12,630
Repairs and renewals	2,759		2,759
Depreciation	89,555		89,555	81,026
	384,831		384,831	375,479

11Staffcosts
The aggregate payroll costs were as follows:
	2023	2022
Staff costs during the year were:
Wages and salaries	716,519	570,651
Social security costs	48,743	33,173
Pension costs	32,334	28,892
Other stafi costs	33,359	10,684
	830,955	643,400

year expressed as f	ull time equivalents was as follows:
		2023		2022
		No		No
Catering			20		18
Engineering			10		9
Shop			I		2
Railway operations	and administration		11		8
Museum			2		2
			44		39

Group
		Plant,
		machinery,		Commercial
	Land and	fixtures dr	Motor	operations,
	buildings	fittings	vehicles	office and IT	Total
		8
Cost
At 1February2022	2,024,507	138,157	24445	56492	2,243,201
Additions		50,364		27,589	77,953
At 31January 2023	2,024,507	188,521	24,245	83,$81	2,321,154
Depreciation
At 1 February 2022	572,996	56,236	5,412	21,867	656,511
Charge for the year	38,588	15,354	4,849	14,274	73,065
At 31January 2023	611,584	71,590	10,261	36,141	729,576
Net book value
At 31January 2023	1,412,923	116,931	13,984	47,740	1,591,578
At 31January 2022	1,451,511	81,921	18,833	34,425	1,586,690
Charity
				Land and
				buildings	Total
Cost
At 1February 2022				507,196	507,196
At 31January 2023				507,196	507,196
Depreciation
At 1February 2022				26,764	26,764
Charge for the year				8,243	8,243
At 31January 2023				35,007	35,007
Net book value
At 31January 2023				472,189	472,189
At 31January 2022				4$0,432	480,432

Group
			Permanent	Locomotives
			vvay and	and	rolling
			infrastructure f,	stockf		Total
Cost
At 1February 2022			181,641		262,194	443,835
At 31January 2023			181,641		262,194	443,835
Depreciation
At 1February 2022			22,055		41,827	63,882
Charge for the year			4,539		11,951	16,490
At 31January 2023			26,594		53,778	80,372
Net book value
At 31January 2023			155,047		208,416	363,463
Summary oftransactions
	2023f	2022	2021	2020f		2019
Additions
Assets purchased-
development			38,042	7,798		87,883
Total additions			38,042	7,798		87,883
Depreciation
Assets purchased-
development	16,490	15,856	15,540	15,094		11,771
Total depreciation	16,490	15,856	15,540	15,094		11,771

A summary of	the	tradin	g	results is shown bel	ow:
						2023	2022
Turnover						1,428,774	1,543,945
Cost ofsales						(1,322,009)	(992,574)
Gross profit						106,765	551,371
Administrative	expenses					(337,667)	(335,435)
Donation &om	Talyllyn		Railway Preservation		Society	175,000	50,000
Net profit/Goes)						(55,902)	265,936
Retained earnings		brought		forward		736,753	470,817
Net profit/fioss)	for the		year			(55,902)	265,936
Retained earnings		carried		forward		680,851	736,753

17 Stock
	Group			Charity
	2023 8	2022f	2023f		2022f
Fuel St consumables	2,544	4,356
Maintenance	55,581	26,210
Work in progress - Assets under
construction	365,098	64,913
Goods for resale	47,230	45,604
	470,453	141,083

			Group		Charity
			2023	2022	2023	2022
Trade debtors			146	240
Prepayments		and other debtors	106,336	53,998	55	7,700
Taxation	and	social security	29,235	5,860
Due 1'rom	group undertakings				35,861	30,435
Amounts	due	from related parties	42,881	17,896
			178,598	77,994	35,916	38,135

19 Credit	ors: amounts falling due within o	ne year
		Group		Charity
		2023	2022	2023	2022f
Trade creditors		115,470	51,501
Other creditors		21,732	1,386		1,186
Accruals @deferred income		49,752	47,727	13,750	13,000
		186,954	100,614	13,750	14,186
Deferred	income
					2023
Deferred	income at 1February 2022				(19,479)
Resources	deferred in the period				(6,959)
Amounts	released t'rom previous periods				9,579
Deferred	income at31January 2023				(16,859)

Group
			Balance atI				Balance at
			February	Incoming	Resources		31January
			2022	resources	expended	Transfers	2023
				8			8
Unrestricted funds
General
General funds			2,086,153	1,972,086	(1,382,906)	(24,965)	2,650,368
Designated funds			54,004				54,004
			2.140.157	1.972.086	(1.382.906)	~(24965	2,704,372
Restricted funds
Wha)f building			971,080		(30,346)		940,734
Loco.No.3 0Sir Haydn"			76,293		(7,976)		68,317
Corris Coach			37,725		(951)		36,774
Tracksiders Fund			628		(628)
Open Carriages Appeal				60	(3,23 1)	3,171
Ty Der Appeal			4,579	2,414	(6,993)
2018AGM Strimmers		Etc.Appeal	319		(319)
2019AGM Carnage		Heating
Appeal			2,585				2,585
2020AGM Loco Injectors Appeal			5,713		(7,000)	1,287
2021AGM Corrie	Vsn Appeal		586	1,533	(10,325)	8,206
Carbon Offset Donations			1,271	415			1,686
Graham Guildford	Fund		21,653	782	(2,250)		20,185
Virtual Visit Appeal			438			(438)
Tamping Machine	Appeal		402		(402)
Defibrillators				2,325	(3,307)	982
Robel Rail Movers				1,900	(8,586)	6,686
Carriage Door Locks				5.163	~(30,234	5,071
Total restricted funds			1,123,272	14,592	(92,548)	24,965	1,070,281
Restricted grants
Welsh Government	Coastal
Communities Fund				247.208	~[247,208
Total restricted grants				247,208	(247,208)
Total funds			3,263,429	2,233,886	~),722,662)		3,774,653

		Balance atI				Balance at
		February	Incoming	Resources		31January
		2021	resources f	expended 8	Transfers	2022 8
Unrestricted funds
General		(1,653,344)	(1,575,361)	1,086,084	2,464	(2,140,157)
Restricted funds		(1,240,730)	(174,664)	294,586	(2,464)	(1,123,272)
Total funds
		Balance atI				Balance at
		February	Incoming	Resources		31January
		2021	resources	expended	Transfers	2022
Unrestricted funds
General
General funds		1,599,340	1,575,361	(1,086,084)	(2,464)	2,086,153
Designated funds		54,004				54,004
		1,653,344	1,575,361	(1,086,0843	~(2,464	2,140,157
Restricted funds
Wharf building		1,001,426		(30,346)		971,080
Loco.No.3 0Sir Haydn"		84,270		(7,977)		76,293
Corris Coach		38,042		(317)		37,725
Tracksiders Fund		628				628
Open Carriages Appeal			35	(2,499)	2,464
Ty D(err Appeal		1,497	6,082	(3,000)		4,579
2018AGM Strimmers Etc.Appeal		319				319
2019AGM Carriage Heating
Appeal		2,585				2,585
2020 AGM Loco	Injectors Appeal	5,713				5,713
2021AGM Corris	Van Appeal		3,836	(3,250)		586
Carbon Offset Donations			1,271			1,271
Graham Guildford	Fund	16,597	5,230	(174)		21,653
Virtual Visit Appeal		438				438
Tamping Machine	Appeal	35	7,998	(7,631)		402
Total restricted funds		1,151,550	24,452	(55,194)	2,464	1,123,272

Notes to the	Financia	l Statements	for the Yea	r Ended 31Ja	nuary 202	3
		Balance atI				Balance at
		February	Incoming	Resources		31January
		2021f	resources	expended f	Transfers	2022f
Restricted graats
Culture Recovery Fund - Round I		89,180		(89,180)
Gwynedd Council Covid Grant			14,000	(14,000)
Coronavirus Job Retention	Scheme		36,212	(36,212)
Culture Recovery Fund - Round 2			100,000	(100,000)
Total restricted grants		89,180	150,212	(239,392)
Total funds		2,894,074	1,750,1125	~5,580,670		3,263,429

Group
	Unrestricted
	funds
		Restricted
	General	funds	Total funds
	K
Tangible fixed assets	855,215	1,099,826	1,955,041
Curtent assets	1,849,157	(29,545)	1,819,612
Total net assets	2,704,372	1,070,281	3,774,653