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##
|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||
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|||||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|
##
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|||(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|
##
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|||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|
##
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|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|
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|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|
##
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|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|
##
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||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|
##
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##
|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|
##
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|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|
##
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##
|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|
##
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##