THE BRISTOL SOCIETY OF MODEL AND EXPERIMENTAL ENGINEERS FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] OCTOBER 2023
THE BRISTOL SOCIETY OF MODEL AND EXPERIMENTAL ENGINEERS
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] OCTOBER 2023
COMPANY REGISTERED NUMBER 02893778 REGISTERED CHARITY NUMBER 1094274
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THE BRISTOL SOCIETY OF MODEL AND EXPERIMENTAL ENGINEERS FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] OCTOBER 2023
DIRECTORS
Mr S P Birch Mr N D Rogers Mr L A Sadler
COMPANY SECRETARY
Mr D Todman
REGISTERED OFFICE AND PRINCIPAL OFFICE OF THE CHARITY
33 Bibury Avenue, Stoke Lodge, Bristol BS34 6DF
CHARITIES NUMBER
1094274
COMPANY NUMBER
02893778
BANKERS
Unity Trust Bank plc 9 Brindley Place Birmingham B1 2HB
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THE BRISTOL SOCIETY OF MODEL AND EXPERIMENTAL ENGINEERS STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31[ST] OCTOBER 2023
The directors present their report and the Financial Statements for the year ended 31[st] October 2023.
PRINCIPAL ACTIVITY
The principal activity of the company is the construction and operation of models for educational purposes. The company is a company limited by guarantee, constituted under its memorandum and articles of association, which contain full details of the principal objects for which it is established. The company is also a Registered Charity.
ORGANISATIONAL STRUCTURE
The company is governed by its board of Directors, all of whom are trustees of the charity. This board is assisted by a general committee, which meets regularly to review the operations and needs of the company and charity. Wherever appropriate, separate committees are established to organise specific events, and the members of those committees are not necessarily also members of either the board or general committee and have delegated authority.
Appointments to the board and general committee are made by the membership in General meeting.
The board reviews and assesses the major risks to which the company and charity is exposed, and wherever possible seeks to mitigate those risks, either by changes in operational procedures or by taking out appropriate insurance policies. Internal controls are in place, which are designed to safeguard the society’s funds and other assets.
REVIEW OF ACTIVITIES
With threats and restrictions of the Covid pandemic now in the past the Society was able to carry out its normal range of activities during 2023.
This year we celebrated 50 years at our Ashton Court Miniature Railway site and was marked by hosting the annual prestigious IMLEC Competition which attracted entrants from all over the UK. The Society also celebrated the event by holding a special Club Day to mark the event.
The railway open in March and was opened for 21 running days giving 23,795 passenger rides. Four or five days were affected by poor weather, 2 of those days were severely curtailed. Visits to the railway by a number of children's organisations took place, including disabled and autistic groups, where they could experience aspects of steam, electric and diesel locomotives, as well as enjoying free rides. We have continued to provide free tickets to disabled people, both adults and children. Work has continued during much of the year at the Ashton Court site to ensure that it is maintained in a safe and manageable condition. The workshop, established a few years ago now contains an arrangement of machinery and tooling.
The Society organises a regular programme of talks at the Begbrook Community Centre and also held a small number of additional “Zoom” meetings. The topics included member’s work in progress, and discussion topics presented by members as well as presentations by external speakers.
On a number of non-public running days at the Ashton Court Railway, the family of members have been encouraged to sample "hands on" experience behind various locomotives, including the chance of driving and maintaining them in a full railway setting.
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THE BRISTOL SOCIETY OF MODEL AND EXPERIMENTAL ENGINEERS STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31[ST] OCTOBER 2023
DIRECTORS
The directors who served during the year were as follows:
Mr S P Birch Mr N D Rogers Mr L A Sadler
Note: The above Directors are also trustees of the charity
The company is limited by guarantee, and does not have a Share Capital. Accordingly, no director held any interest in the share capital of the company during the year.
SMALL COMPANY EXEMPTIONS
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime
FINANCIAL RESERVE
The Society continues to hold funds for the purpose of purchasing a site for the railway to improve upon its facilities as a Charity Organisation.
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;
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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.
ON BEHALF OF THE BOARD
D Todman Secretary
Date 6[th] December 2023
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THE BRISTOL SOCIETY OF MODEL AND EXPERIMENTAL ENGINEERS STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31[ST] OCTOBER 2023
The company made no recognised gains or losses other than those reported in the Statement of Financial Activities.
| INCOMING RESOURCES Activities in furtherance of the charity's objectives: Subscriptions Club General Income Railway Income Investment income: Gains on disposal of fixed assets Other Incoming resources: Interest Received TOTAL INCOMING RESOURCES RESOURCES EXPENDED the charity's objectives: Society operational costs Exhibition & Event costs Workshop costs Costs of activities in furtherance of |
Note 2 4 |
2023 2022 £ £ 8,726 8,888 1,205 1,951 38,666 37,860 - - 1,565 196 50,162 48,896 6,179 7,102 - - 294 215 |
2022 |
|---|---|---|---|
| Railway operating expenditure | 32,807 24,361 |
||
| Depreciation TOTAL RESOURCES EXPENDED NET INCOMING RESOURCES NET MOVEMENT OF FUNDS Total funds brought forward Total funds carried forward |
3 10,11 |
4,244 4,954 43,524 36,631 6,638 12,265 6,638 12,265 123,607 111,343 130,245 123,607 |
The notes on pages 7 to 9 form part of these financial statements
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THE BRISTOL SOCIETY OF MODEL AND EXPERIMENTAL ENGINEERS ABBREVIATED BALANCE SHEET
FOR THE YEAR ENDED 31[ST] OCTOBER 2023
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Note 2023 2022
£ £
FIXED ASSETS
Tangible assets 5 6,529 9,890
Investments - -
6,529 9,890
CURRENT ASSETS
Stocks 493 493
Debtors 7
Investments - -
Cash at bank and in hand 130,055 119,321
130,548 119,814
- -
Prepayments and Accrued income
Creditors: amounts falling due within one year 8 6,832 6,097
Net current assets (liabilities) 123,716 113,718
Total Assets less current liabilities 130,245 123,607
Creditors: amounts falling
due after more than one
year - -
Provision for liabilities - -
Accruals and deferred
income - -
Total net assets (liabilities) 130,245 123,607
Reserves
Income and expenditure account 130,245 123,607
Members' funds 130,245 123,607
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In approving these financial statements as directors of the company, we confirm that:
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors’ responsibilities:
-
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476,
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts, and also the requirements of SORP 2000 relating to the preparation of accounts for Charities.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
These accounts were approved by the Board of Directors on 6[th] November 2023
Signed
Chairman – 6[th] December 2023
The notes on pages 7 to 9 form part of these financial statements
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THE BRISTOL SOCIETY OF MODEL AND EXPERIMENTAL ENGINEERS NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31[ST] OCTOBER 2023
1. ACCOUNTING POLICIES
Basis of accounting
The accounts have been prepared under the historic cost convention on a going concern basis.
Tangible fixed assets
Fixed assets are shown at historic cost, less accumulated depreciation.
Depreciation is provided, after taking account of grants receivable on a straight line basis.
The rate of depreciation is 20%.
Stocks
Stocks are stated at the lower of cost and net realisable value.
Taxation
Corporation Tax is not provided, on the basis that the company, as a registered charity, is exempt.
Turnover
Turnover comprises subscription income from members together with the associated gift aid tax credit.
Cash flow statement
The company has taken advantage of the exemption within Financial Reporting Statement No.1 from producing a cash flow statement on the basis that it is a small company.
Recognition of liabilities
Liabilities are recognised as soon as a contractual obligation has been entered into. No grants are distributed by the charity.
Material Incoming Resources
Material incoming resources are recognised on a receivable basis.
2. TURNOVER
Turnover and the Net Incoming resources are attributable to subscriptions from members together with the associated gift aid tax credit. The Net Incoming Resources is shown after crediting other income from the operation of educational activities.
3. NET INCOMING RESOURCES
The Net Incoming Resources is stated after charging/(crediting):
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2023 2022
£ £
Depreciation - Owned Assets 4,244 4,954
- -
Profit on Disposal of Fixed Assets
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THE BRISTOL SOCIETY OF MODEL AND EXPERIMENTAL ENGINEERS NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31[ST] OCTOBER 2023
4. INTEREST RECEIVABLE AND SIMILAR INCOME
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Bank Interest receivable | 1,565 | 196 |
5. TANGIBLE FIXED ASSETS
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Plant, Machinery
& Buildings Fixtures & Equipment Total
£ £ £
COST
As at 31 October 2022 223,066 5,273 228,339
Additions during the year 884 0 884
At 31 October 2023 223,950 5,273 229,223
DEPRECIATION
As at 31 October 2022 213,686 4,764 218,450
Additions during the year 4,117 127 4,244
At 31 October 2023 217,803 4,891 222,694
NET BOOK VALUES
At 30 October 2022 9,380 510 9,890
At 31 October 2023 6,147 382 6,529
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6. STAFF, DIRECTORS AND TRUSTEES REMUNERATION AND EXPENSES
No staff are employed, consequently there are no staff remuneration costs.
No Director or Trustee, nor any party connected with them received any remuneration or expenses during the year
7. DEBTORS
| 2023 | 2022 |
|---|---|
| £ | £ |
| - | - |
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Ashton Court Rent | 6,103 | 6,097 |
| St John Ambulance | 729 | - |
9. CALLED UP SHARE CAPITAL
The company is limited by guarantee and does not have a share capital.
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THE BRISTOL SOCIETY OF MODEL AND EXPERIMENTAL ENGINEERS NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31[ST] OCTOBER 2023
10. RESERVES
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£
At 1st November 2022 123,607
Net Incoming Resources 6,638
At 31 [st] October 2023 130,245
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11. FUNDS
The funds represent the net assets of the company at the time it became a charity, together with the Net Incoming Resources generated since that date. This fund is available for expenditure in pursuance of the charity’s objectives.
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INDEPENDENT EMfvIINERS REPORT I report on the accounts of the charity for the year ended 31" (ktob¢r 2023, which are set out on pages Respective responsibilities of trustees and exAminer The charity's trustecs are responsible for the prepardiion of the accounts in accordance with the Charities Act 2011 {'the Act.). The charity's tTUStces consider that an audit is not required for this year under section 144 of the Act and that an independent examinalion is ne¢d¢d. It is my responsibility to.. examine Ihe accounts under se10n 145 of the Charities Aci. to follow the applicable Directions given by the Charity Coinmission (under section 145(5}(bl of the Act, and to State whether particular matter5 have come to my attention. BA515 of Independent examlner's statement My examination was ¢arried out in a¢cordan¢¢ with the Generdl Dire£tions given by the Charity Commission. An examination includes a r¢vi¢w of lh¢ a¢¢ounting records kep( by the charity and a comparison of the accounts presented with those re¢ords. ll also includes considerntion of any unusual items or disclosures in th¢ a¢¢ounts. and seeking explanaiions from the trustees concerniiig any such matters. The procedures undertaken do not provide all the evidence thai would be required in an audit, and consequently no opinion is giv¢n as to wh¢th¢r the a¢¢ounts present a 'trne aftd fair, view and the report is limited to those matt¢rs set oul in the slalemenl below. Independent ex4miner's statement In connection with my examinalion, material maltcrs have com¢ to my all¢ntion which gives me cause to believe Ihal in, any material respect.. the ac¢oLmting rOrdS were nol kept in accordance with lion 130 of the Charities Act.. or the accounts did not accord wilh the accouniing records. or the accounts did not comply with the appIlble rquiremenls conceming the fom] and conlcnt of the accounts sel out in the Charities (Accounts and Reports) Regulalions 2008 other than any rcquircmcnt that the accounts give a 'lrue and fair. view which is not a matter considered as part of an independent examination. I have no conccrns and havc comc across no othcr matter5 in conncclion with the examination to which attention should be drawn in this rewyrt in order to enable a proper understanding of the accounts to be reached. Adam Kelly FCCA Date: 15 January 2024