THE BRISTOL SOCIETY OF MODEL AND EXPERIMENTAL ENGINEERS FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] OCTOBER 2024
THE BRISTOL SOCIETY OF MODEL AND EXPERIMENTAL ENGINEERS
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] OCTOBER 2024
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 2024
DIRECTORS
Mr S P Birch Mr N D Rogers (Retired 7[th] February 2024) Mr D Wainwright (Elected 7[th] February 2024) 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 2024
The directors present their report and the Financial Statements for the year ended 31[st] October 2024.
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
The railway open in March and was opened for 21 running days giving 31,139 passenger rides. Four or five days were affected by poor weather. 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.
In July The Society celebrated 40 years of the opening of the ground level track. The Society also held the annual BRIMLEC competition testing the driver’s ability to drive efficiently and although he didn’t win, one of our junior members put in a very credible performance on his first attempt
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.
The Society has now initiated a Workshop Program whereby members, particularly those under 18 and/or those with very little workshop experience to construct a 16mm locomotive ( Ellie ) under the tuition of the Society’s more experienced members.
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THE BRISTOL SOCIETY OF MODEL AND EXPERIMENTAL ENGINEERS STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31[ST] OCTOBER 2024
DIRECTORS
The directors who served during the year were as follows:
Mr S P Birch Mr N D Rogers (Retired 7[th] February 2024) Mr D Wainwright (Elected 7[th] February 2024) 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 new club hut and the maintenance of its locomotives some of which will require a significant overhaul through the winter months. A small reserve is kept to cover the railway expenditure during the winter months before income is received from our public running days
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:
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Select suitable accounting policies and then apply them consistently;
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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 21[st] November 2024
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THE BRISTOL SOCIETY OF MODEL AND EXPERIMENTAL ENGINEERS STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31[ST] OCTOBER 2024
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 |
2024 2023 £ £ 8,319 8,726 3,497 1,205 50,979 38,666 - - 2,642 1,565 65,436 50,162 7,558 6,179 - - 1,696 294 30,323 32,807 |
2023 |
|---|---|---|---|
| Railway operating expenditure | |||
| Depreciation TOTAL RESOURCES EXPENDED NET INCOMING RESOURCES NET MOVEMENT OF FUNDS Total funds brought forward Total funds carried forward |
3 10,11 |
4,016 4,244 43,593 43,524 21,843 6,638 21,843 6,638 130,245 123,607 152,088 130,245 |
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 2024
| Note | 2024 | 2023 |
|---|---|---|
| FIXED ASSETS Tangible assets 5 Investments |
£ 2,512 - |
£ 6,529 - |
| 2,512 | 6,529 | |
| CURRENT ASSETS Stocks Debtors 7 Investments Cash at bank and in hand |
493 - 158,652 159,145 ~~—————_—.~~ |
493 - 130,055 130,548 |
| Prepayments and Accrued income Creditors: amounts falling due within one year 8 |
- 9,569 |
- 6,832 |
| Net current assets (liabilities) | 149,576 | 123,716 |
| Total Assets less current liabilities | 152,088 | 130,245 |
| Creditors: amounts falling due after more than one year Provision for liabilities Accruals and deferred income |
- - - |
- - - |
| Total net assets (liabilities) | 152,088 | 130,245 |
| Reserves Income and expenditure account |
152,088 | 130,245 |
| Members' funds | 152,088 | 130,245 |
In approving these financial statements as directors of the company, we confirm that:
For the year ending 31 October 2024, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors’ responsibilities:
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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 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 4th November 2024
Signed Chairman – S Birch
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 2024
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):
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Depreciation - Owned Assets | 4,016 | 4,244 |
| 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 2024
4. INTEREST RECEIVABLE AND SIMILAR INCOME
2024 2023 £ £ Bank Interest receivable 2,642 1,565
5. TANGIBLE FIXED ASSETS
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Plant, Machinery
& Buildings Fixtures & Equipment Total
£ £ £
COST
As at 1 November 2023 223,950 5,273 229,223
Additions during the year 0 0 0
At 31 October 2024 223,950 5,273 229,223
DEPRECIATION
As at 1 November 2023 217,803 4,891 222,694
Additions during the year 3,889 127 4,016
At 31 October 2024 221,692 5,018 226,710
NET BOOK VALUES
At 31 October 2023 6,147 382 6,529
At 31 October 2024 2,258 255 2,512
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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
2024 2023 £ £
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Ashton Court Rent | 9,569 | 6,103 |
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THE BRISTOL SOCIETY OF MODEL AND EXPERIMENTAL ENGINEERS NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31[ST] OCTOBER 2024
9. CALLED UP SHARE CAPITAL
The company is limited by guarantee and does not have a share capital.
10. RESERVES
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2024 2023
£ £
Opening Member’s Funds 130,245 123,607
Net Incoming Resources for the Financial Year 21,843 6,638
Closing member’s funds 152,088 130,245
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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 EXAMINERS REPORT report on the accounts of the charity for the year ended 31. October 2024, which are set out on pages 5t09. Respective responsibilities of trustees and examiner The charity's trustees are responsible for the preparation of the accounts in accordance with the Charities Act 2011 ("the Act"). The charity's trustees consider ihat an audit is not required for this year under section 144 of the Act and that an independent examination is needed. It is my responsibility to: examine the accounts under section 145 of the Charities Act, to t"ollow the applicable Directions given by the Charity Commission (under section 145(5)(b) of the Act, and to state whether particular matters have come to my attention. Basis of independent examiner's statement My examination was Caled out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration ot'any unusual items or disclosures in the accounts, and seekingy explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair, view and the report is limited to those matters set out in the statement below. Independent examiner's statement In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect: the accounting records were not kept in accordance with section 130 of the Charities Act: or the accounls did not accord with the accounting records,. or the accounts did not comply with the applicable requirements concerning the forn] and content of the accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attentioii should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Adam Kelly FCCA Date.. 27 January 2025