## **THE MELTON CONSTABLE TRUST** ## **Report of the Directors** The directors present their report and the unaudited financial statements for the year ended 31 August 2021. ## **Directors** The following directors have held office during the period covered by this report: Trevor James Bailey David Christopher Bill MBE Derek Leslie Haynes John Sparks Hull ## **Principal activity and review of operations** The principal activity of the trust is to advance the education of the public in the historical, architectural and constructional heritage in and around the railway works and village of Melton Constable in particular but not exclusively by making available for public reference and by the publication of information concerning the history, equipment and operation of the former Midland & Great Northern Joint Railway and by the preservation of buildings or equipment of particular beauty or historic, architectural or constructional interest. Activity during the year has been restricted by the Covid pandemic. It has, however, been possible to carry out survey and planning work in respect of a future extension of the Trust’s property alongside the Holt by pass and to continue raising funding towards the final purchase of a further section of former railway at High Kelling. Work has also been undertaken towards satisfying the requirements of Norfolk County Council and the Office of Rail and Road in respect of the proposed extension of the Trust’s property and activities. A successful application was made to the National Lottery Heritage Fund for emergency funding to assist with overcoming the problems of the Covid period. This enabled consultancy to be commissioned in order to plan future fund raising, supporter recruitment and PR/publicity. It also provided manpower to keep the Trust’s sites at High Kelling and Fakenham under surveillance in order to restrict vandalism, monitor public safety and to continue to engage the community and visitors. ## **Statement of Directors’ Responsibilities** Company law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing those financial statements, the directors are required to: - Select suitable accounting policies and then apply them consistently; - Make judgements and estimates that are reasonable and prudent; and - Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the board on 28th February 2022 and signed on its behalf by ......................................... Adrian Loynes Secretary. Report & Financial Statements For the year ended 31 August 2021 **THE MELTON CONSTABLE TRUST** Company No. 4062673 Registered Charity No. 1090847 ## **THE MELTON CONSTABLE TRUST** ## **Company information** |**Directors**|Trevor James Bailey| |---|---| ||David Christopher Bill MBE| ||Derek Leslie Haynes| ||John Sparks Hull| |**Secretary**|Adrian Neil Loynes| |**Registered office**|The Railway Institute| ||6 Briston Road| ||Melton Constable| ||Norfolk NR24 2DA| |**CONTENTS**|| |Report of the directors|2| |Balance Sheet|3| |Profit and Loss Account|4| |Notes to the financial statements|5| 1. ## **THE MELTON CONSTABLE TRUST** ## **Report of the Directors** The directors present their report and the unaudited financial statements for the year ended 31 August 2021. ## **Directors** The following directors have held office during the period covered by this report: Trevor James Bailey David Christopher Bill MBE Derek Leslie Haynes John Sparks Hull ## **Principal activity and review of operations** The principal activity of the trust is to advance the education of the public in the historical, architectural and constructional heritage in and around the railway works and village of Melton Constable in particular but not exclusively by making available for public reference and by the publication of information concerning the history, equipment and operation of the former Midland & Great Northern Joint Railway and by the preservation of buildings or equipment of particular beauty or historic, architectural or constructional interest. Activity during the year has been restricted by the Covid pandemic. It has, however, been possible to carry out survey and planning work in respect of a future extension of the Trust’s property alongside the Holt by pass and to continue raising funding towards the final purchase of a further section of former railway at High Kelling. Work has also been undertaken towards satisfying the requirements of Norfolk County Council and the Office of Rail and Road in respect of the proposed extension of the Trust’s property and activities. A successful application was made to the National Lottery Heritage Fund for emergency funding to assist with overcoming the problems of the Covid period. This enabled consultancy to be commissioned in order to plan future fund raising, supporter recruitment and PR/publicity. It also provided manpower to keep the Trust’s sites at High Kelling and Fakenham under surveillance in order to restrict vandalism, monitor public safety and to continue to engage the community and visitors. ## **Statement of Directors’ Responsibilities** Company law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing those financial statements, the directors are required to: - Select suitable accounting policies and then apply them consistently; - Make judgements and estimates that are reasonable and prudent; and - Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the board on 29th February 2021 and signed on its behalf by ......................................... Adrian Loynes Secretary. ## **THE MELTON CONSTABLE TRUST** **Balance sheet at 31 August 2021** ||Notes|2021|2020| |---|---|---|---| |||£|£| |**Tangible Fixed Assets**|||| |Land & bridges||24,996|24,996| |**Intangible Fixed Assets**|||| |Land|4
|78,672|77,672| |**Current Assets**|||| |Bank Account||69,548|30,510| |Accrued income||2,869|-| |**Current Liabilities**|||| |Other loans|5|7,500|9,050| |Directors Loan Account|9|12,881|8,881| |||——–|——| |||20,381|17,931| |**Net Assets**||155,704|115,247| |||=====|====| |**Capital and Reserves**|||| |Profit and loss account|2
|155,704|115,247| |||=====|====| For the year ending 31 August 2021 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the Company to obtain an audit in accordance with Section 476 of the Companies Act 2006. The Directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of the financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to small companies’ regime. Approved by the board on 29th February 2022 and signed on its behalf by ................................. Trevor Bailey Director 3. ## **THE MELTON CONSTABLE TRUST** **INCOME AND EXPENDITURE ACCOUNT For the year ended 31 August 2021** ||**Notes**|**2021**|**2020**| |---|---|---|---| |||**£**|**£**| |INCOME|||| |Donations and grants|6|63,248|18,792| |EXPENDITURE|||| |Fundraising and oversight of land|8|(20,631)|(1.233)| |Administrative expenses|7|(2,160)
|(12,934)| |||———|———| |||(22,791)
|(14,167)| |||———|———| |SURPLUS / (DEFICIT) FOR THE FINANCIAL YEAR||40,457|4,625| |||=====|=====| The notes on page 5 form part of the financial statements 4. ## **THE MELTON CONSTABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021** ## **1. ACCOUNTING POLICIES** The financial statements have been prepared under the historical cost convention . **2. CAPITAL** The Melton Constable Trust is limited by guarantee and has no share capital. The company is registered in England with no restriction on the number of members. The liability of members is limited to £10.00 each in the event of a winding up. **3. REMUNERATION** No emoluments were paid to the directors for the year ended 31 August 2021. **4. INTANGIBLE FIXED ASSETS** These are in respect of the payments made under an option agreement which (subject to paying the purchase price) gives the Trust the legal right to acquire land needed to reinstate part of the railway. **5. OTHER LOANS** The loans are interest free and repayment terms have been agreed. **6. DONATIONS AND GRANTS** During the financial year £43,248 of donations were received by the Trust along with grants of £20,000 from the National Lottery Heritage Fund. **7. ADMINISTRATIVE EXPENSES** - £2,160 was expended on general office, travel, consultancy and insurance costs. **8. FUNDRAISING AND OVERSIGHT OF LAND** Fund-raising plan and implementation, new volunteer recruitment, and promotion, security and public safety of the Trust’s two sites. ## **9. DIRECTORS LOANS** |Directors loans|outstanding at 31 August 2021 were as follows:| |---|---| |David Bill|£7,876| |Trevor Bailey|£2,505| |Derek Haynes|£2,500| 5. The Melton Constable Trust Balan￿ Sheet 0151 September 2020- 31st August 2021 Total Income 62.859.64 24933.35 GItAvJ s.￿5 16 HLFGra 459).LKI I4￿. VATI¥th 31.13 Total Expenditure 23,821.60 L￿Ld ￿gall￿aS 1.COI 1•J 1124 W) Icofe 35. T(A81 Loar*r- 2m1.tX> 7.8T&O) 4.(th(X) Trqv(f IX6.W I￿). Bank Balance at 1st septeM￿r 2020 Bank Balan￿ at 31st August 2021 Excess of income over expendtture for this period 30,510.00 69,548.04 39.038.04 Signed= David Bill Director I have examined the receipt and payment accounts and the statements of assets and liabilities of the Melton Constable Trust. The closing balance from the bank statements have been wrongly manually copied to Ihe accounting spreadsheet on one occasion (Closing bank balance at 0510812021 should read £69.313.52 and not £59.079.13). The overall balance sheet summary including Totsl Income, Total Expenditure and Total Loans is aligned to the presented documents for the account audit. I can confimi that the statements and the accounts as presented above are in accordance with the aceounting records of the trusL Signed.. ROW H￿rmer Account Auditor