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|||Page||
|---|---|---|---|
|Report o f the Trustees||||
||1|to|10|
|A−of−the Independent−A−uditors|11|to|14|
|Statement o f Financial Activities||15||
|Balance Sheet||||
||16|to|17|
|Notes to the Financial Statements|18|to|29|





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||**2022**|2021|
|---|---|---|
|Adults|**880**|920|
|Families|**806**|849|
|Juniors|**3**|3|
|Young−persons|**7**|**4**|
|Life members|**418**|418|
|Associate Life<br>members|**34**|34|
|Total|**2,148**|2,228|





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|||**2022**||2021|
|---|---|---|---|---|
|NG15 project|**£**|**2,061**|**£**|8,742|
|K1 project|**£ **|**33,318**|**£**|32,737|
|Designated funds|||||
|||**2022**||2024|
|−Historical railway assets fund|**£**|**700−−£**||**7.00**|
|**Station**View property fund|**£230,000**||£230,000||
|Station View maintenance<br>−fund|**£44,578**||**£**|11,4.10|
|NG15 project contingency fund||−|£|22,256|
|Smaller project allocation fund;|£|**25,236**|**£**|29,746|
|NG15 appeal|£|**86**|**£**|11,310|
|Third class saloon appeal fund|**£150,025**||**£150,000**||
|Dinas facilities contingency fund|£|**11,652**|**£**|11,652|
|Coronavirus appeal fund|£|**355**|**£**|117|
|Uncommitted funds|||||
|||**2022**||2021|
|Uncommitted funds (free reserve)|£|**10,598**|**£**|44,752|





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|**Elwyn Jones**|**Elwyn Jones**|
|---|---|
|−The Snowdon Ranger advertising||
|−Rail Ale Festival committee chair||
|−Press & local community relations||
|−Volunteer accommodation co−ordinator||
|**Neil McMaster**||
|−Area & Special Interest Groups:|liaison with groups' chairs|
|−Platform benches||
|−Asset co−ordinator||
|−Risk Management Policy||
|**David Firth**|**−**resigned 17 September 2022|
|−Fvents coordinator||
|**Mark Gardner**||
|−Social media & web query allocations||
|−Website administrators David Tidy & Laurence Armstrong||
|−Vision Group chair||
|−Joint data protection obligations||
|**Steven Harris**||
|−Membership: membership committee chairman, Membership Secretary Richard Watson||
|−The Snowdon Ranger: Proof−reader||
|−Joint data protection obligations||
|Megan **Smith**|−resigned 31 July 2022|
|−Volunteers||
|**Adrian Strachan**||
|−NG15 project||
|**Joanna Charles**|**−**appointed 17 September 2022|
|−Assistant Company Secretary||





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## 

||**Registered office**|
|---|---|
||Station View|
||Dinas|
||Caernarfon|
||Gwynedd|
||LL54 SUB|
||**Auditors**|
||Dunn & Ellis Cyf|
||Statutory Auditors|
||St David's Building|
||Lombard Street|
||Porthmadog|
||Gwynedd|
||LL49 9AP|
||**Bankers**|
||Barclays Bank plc|
||Leicester|
||LE87 2BB|
||CAF Bank Limited|
||25 Kings Hill Avenue|
||Kings Hill|
||West Mailing|
||Kent|
||ME19 4JQ|
|−|Metro−Bank−Plc|
||One Southampton Row|
||London|
||WC1B 5HA|



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## 



## 

||||||**31.12.22**|31.12.21|
|---|---|---|---|---|---|---|
||||Unrestricted||||
|||Unrestricted|designated|Restricted|**Total**|Total|
|||fund|funds|funds|**funds**|funds|
||Notes|£|£|£|£|£|
|**lNCOIVIE AND**|||||||
|**ENDOWMENTS FROM**|||||||
|Donations, legacies & gift aid||**78,885**|**1,274**|**6,972**|**87,131**|31,422|
|**Charitable activities**|||||||
|Subscriptions & diamond appeal||**73,590**|||**73,590**|79−T24−7|
|Accommodation income|||**2,989**||**2,989**|2,366|
|Coronavirus appeal|||**235**||**235**|1,856|
|General appeals||−|**20,335**|**25,980**|**46,315**|28,753|
|Other trading activities|3|**1,352**|||**1,352**|**240**|
|Investment income|4|**259**|||**259**|13|
|**Total**||**154,086**|**24,833**|**32,952**|**211,871**|143,907|
|**EXPENDITURE ON**|||||||
|Raising funds||**171**||**35**|**206**|**707**|
|**Charitable activities**|||||||
|Donations to the Festiniog|||||||
|Railway Company|||**4,829**|**247,579**|**252,408**|239,146|
|Printing, stationary, postage etc.||**21,963**|−||**21,963**|18,371|
|Accommodation costs|||**5,937**|_<br>**−**|**5,937**|4,865|
|Governance and support||**5,987**|**3**||**5,990**|4,398|
|**Total**||**28,121**|**10,769**|**247,614**|**286,504**|267,487|
|**NET**|||||||
|**INCOME/(EXPENDITURE)**||**125,965**|**14,064**|**(214,662)**|**(74,633)**|(123,580)|
|**Transfers between funds**|**13**|**(159,939)**|**(48,623)**|**208,562**|||
|**Other recognised** gains/(losses)|||||||
|Gains on revaluation o f fixed|||||||
|assets||||||4,626|
|**Net movement in funds**||**(33,974)**|**(34,559)**|**(6,100)**|**(74,633)**|(118,954)|
|**RECONCILIATION OF**|||||||
|**FUNDS**|||||||
|Total funds brought forward||**44,572**|**467,191**|**41,479**|**553,242**|672,196|
|**TOTAL FUNDS CARRIED**|||||||
|**FORWARD**||**10,598**|**432,632**|**35,379**|**478,609**|553,242|





## 

||||||**31.12.22**|31.12.21|
|---|---|---|---|---|---|---|
||||Unrestricted||||
|||Unrestricted|designated|Restricted|**Total**|Total|
|||fund|funds|funds|**funds**|funds|
||Notes|£|£|£|£|£|
|**FIXED ASSETS**|||||||
|Tangible assets|8||**230,700**||**230,700**|230,700|
|Investments|9|1|||1|1|
|||**1**|**230,700**||**230,701**|230,701|
|**CURRENT ASSETS**|||||||
|Debtors|10|**18,336**|**121,851**|**2,081**|**142,268**|133,513|
|Cash at bank||**71,430**|**80,081**|**33,320**|**184,831**|319,331|
|||**89,766**|**201,932**|**35,401**|**327,099**|452,844|
|**CREDITORS**|||||||
|Amounts falling due within one|||||||
|year|11|**(44,770)**||**(22)**|**(44,792)**|(93,505)|
|**NET CURRENT ASSETS**||**44,996**|**201,932**|**35,379**|**282,307**|359,339|
|**TOTAL ASSETS LESS**|||||||
|**CURRENT LIABILITIES**||**44,997**|**432,632**|**35,379**|**513,008**|590,040|
|**CREDITORS**|||||||
|Amounts falling due after more|||||||
|than one year|12|**(34,399)**|||**(34,399)**|(36,798)|
|**NET ASSETS**||**10,598**|**432,632**|**35,379**|**478,609**|553,242|





## 

|||**31.12.22**|31.12.21|
|---|---|---|---|
|||**Total**|Total|
|||funds|funds|
||Notes|£|£|
|**FUNDS**|13|||
|Unrestricted funds:||||
|Uncommitted fund<br>Historical railway assets fund<br>**LthorrVrew−propertrfimd**<br>Station View maintenance fund<br>NG15 contingency fund<br>Small project allocations fund<br>NG15 Appeal<br>Third class saloon fund<br>Dinas facilities contingency fund<br>Coronavirus appeal fund||**10,598**<br>**700**<br>**230,000**<br>**14,578**<br>**25,236**<br>**86**<br>**150,025**<br>**11,652**<br>**355**|44,572<br>mo<br>230,000<br>11,410<br>22,256<br>29,746<br>11,310<br>150,000<br>11,652<br>117|
|||,||
|||**443,230**|511,763|
|Restricted funds:||||
|NG15 project fund<br>K1 project fund||**2,061**<br>**33,318**|8,742<br>32,737|
|||**35,379**|41,479|
|**TOTAL FUNDS**||**478,609**|553,242|



## 



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## 

## 

## 

## 

|**01−HER−TRADING−ACTIVITIES**|||||
|---|---|---|---|---|
||||**31.12.22**|31.12.21|
||Unrestricted_Restricted||**Total**|Total|
||funds|funds|**funds**|funds|
||£|£|£|£|
|Sales|379||379|240|
|Advertising revenue|973||973||
||**1,352**||**1,352**|240|





## 

## 

||||||**31.12.22**|31.12.21|
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|**Total**|Total|
||||funds|funds|**funds**|funds|
||||**£**|**£**|**£**|**£**|
||Deposit account interest||259|−|259|13|
|**5.**|**AUDITORS' REMUNERATION**||||||
||||||**31.12.22**|31.12.21|
||Fees|a able to the chari|'s auditors_for_the_sudit_nf_the_charivs|financial|||
||statements||||2,775|2,552|
||Fees|payable to the charity's auditors for other services:|||||
||Preparation o f accounts||||**1,330**|**1,210**|



## 

## 

## 

|||Unrestricted||||
|---|---|---|---|---|---|
||Unrestricted|designated|Restricted|Total||
||fund|funds|funds|funds||
|**INCOME AND ENDOWMENTS FROM**||||||
|D_onations,_legacies,&—giftraid|4,987|4;−758|1;677|3−1,422||
||||||_|
|**Charitable activities**||||||
|Subscriptions & diamond_appeal|79,25|||/925||
|Accommodation income||2,366||2,366||
|Coronavirus appeal||1,856||1,856||
|General appeals||19,189|9,564|28,753||
|Other trading activities|240|||240||
|Investment income|13|||13||
|Total|104,497|28,169|11,241|143,907||
|EXPENDITURE ON||||||
|Raising funds|171||536|707||
|**Charitable activities**||||||
|Donations to the Festiniog Railway Company|117,405|30,284|91,457|239,146||
|Printing, stationary, postage etc.|18,371|||18,371||
|Accommodation costs||4,865||4,865||
|Governance and support|4,382|16||4,398||





## 

||||||Unrestricted|||
|---|---|---|---|---|---|---|---|
|||||Unrestricted|designated|Restricted|Total|
|||||fund|funds|funds|funds|
||**Total**|||140,329|35,165|91,993|267,487|
||**NET INCOME/(EXPENDITURE)**|||(35,832)|(6,996)|(80,752)|(123,580)|
||**Transfers between funds**|||(65,729)|(2,0−1−5)|67,744||
||**Olher recognised gains/(losses)**|||||||
||Gains on revaluation o f fixed assets||||4,626||4,626|
||**Net movement in funds**|||(101,561)|(4,385)|(13,008)|(118,954)|
||**RECONCILIATION OF FUNDS**|||||||
||Total funds brought forward|||146,133|471,576|54,487|672,196|
||**TOTAL FUNDS CARRIED FORWARD**|||44,572|467,191|41,479|553,242|
|**8.**|**TANGIBLE FIXED ASSETS**|||||||
|||||Dinas||||
|||Freehold||signal|Model|Nantlle||
|||property||box sign|Locomotive|map|Totals|
||||£|£|£|£|£|
||**COST OR VALUATION**|||||||
||At 1 January 2022 and|||||||
||31 December 2022|**230,000**||**375**|**100**|**225**|**230,700**|
||**NET BOOK VALUE**|||||||
||At 31 December 2022|**230,000**||**375**|**100**|**225**|**230 700**|
||At 3Thecember2021|230,000||375|1−00|225|230,700|



|||||**Dinas**|**Dinas**||||
|---|---|---|---|---|---|---|---|---|
||||**Freehold**|**signal**||**Model**|**Nantlle**||
||||**property**|**box **|**sign**|**Locomotive**|**map**|**Totals**|
||||**£**|**£**||**£**|**£**|**£**|
|Valuation|in|2021|**4,626**|||||**4,626**|
|Cost|||**225,374**||**375**|**100**|**225**|**226,074**|
||||**230,000**||**375**|**100**|**225**|**230,700**|





## 

||**31.12.22**|31.12.21|
|---|---|---|
|Cost|**225,374**|225,374|



## 

|**FIXED ASSET INVESTMENTS**||
|---|---|
||Unlisted|
||investments|
|**MARKET VALUE**||
|At 1 January 2022 and 31 December 2022|**1**|
|**NET BOOK VALUE**||
|At 31 December 2022|**1**|
|At 31 December 2021|1|



## 

|**DEBTORS**|||
|---|---|---|
||**31.12.22**|31.12.21|
|Amounts falling due within one year:|||
|Other debtors|**3,130**|5,024|
|Annual gift aid claims|**8,286**|6,636|
|Bequests|**9,001**|2|
||**20,417**|11,662|





|**Notes **|**to the Financial Statements −continued**|||||||
|---|---|---|---|---|---|---|---|
|**for the Year Ended 31 December 2022**||||||||
|**10.**|**DEBTORS −continued**|||||||
|||||||**31.12.22**|31.12.21|
||Amounts falling due after more than one year:|||||||
||Company loans|||||**121,851**|121 851|
||Aggregate amounts|||||**142,268**|133,513|
|**11.**|**CREDITORS: AMOUNTS FALLING DUE **|**WITHIN O d**|**YEAR**|||||
|||||||**31.12.22**|31.12.21|
||Accrued Festiniog Railway Company donations|||||**800**|56,857|
||Other creditors|||||**4,412**|4,379|
||Deferred income|||||**39,580**|32,269|
|||||||**44,792**|93,505|
|**12.**|**CREDITORS: AMOUNTS FALLING DUE **|**AFTER MORE **|**THAN **||**ONE **|**YEAR**||
|||||||**31.12.22**|31.12.21|
||Accruals and deferred income|||||**34,399**|36,798|
|**13.**|**MOVEMENT IN FUNDS**|||||||
|||||Net||Transfers||
||||movement|||between|At|
|||At 1.1.22||in funds||funds|31.12.22|
|||**£**||**£**||**£**|**£**|
||**Unrestricted funds**|||||||
||Uncommitted fund|**44,572**||**125,965**||**(159,939)**|**10,598**|
||Historical railway assets fund|**700**||||||
||Station View property fund|**30,00**|||||**230;000**|
||Station View maintenancamd|**11,410**|**_**|**(2;9−48)**||**6,116**|**14,578**|
||NG−1−−5=−Corfa ingency−fund|**22,256**|||**−**|**(22,2**|**−**|
||**Small−projecrallocations** fund|**29,746−(4829)**||||**319**|**25,236**|
||**NG15 Appeal**|**11,310**||**21,5'78**||**(32,802)**|**86**|
||**• d−class−Oloon fund**|**150,000**|||**25**||**150,025**|
||**Dinas facilities contingency fund**|**11,652**|||**−**||**11,652**|
||**Coronavirus appeal fund**|**117**|||**238**||**355**|
|||**511,763**||**140,029**||**(208,562)**|**443,230**|
||**Restricted funds**|||||||
||**NG15** project fund|**8,742**|**(215,243)**|||**208,562**|**2,061**|
||K l project fund|**32,737**|||**581**||**33,318**|
|||**41,479**|**(214,662)**|||**208,562**|**35,379**|
||**TOTAL FUNDS**|**553,242**||**(74,633)**|||**478,609**|





## 

|||||Incoming|Resources|Movement||
|---|---|---|---|---|---|---|---|
|||||resources|expended|in funds||
|||||£|£|£||
|||**Unrestricted funds**||||||
|||Uncommitted fund||**154,086**|**(28,121)**|**125,965**||
|||Station View maintenance fund||**2,989**|**(5,9342,−948)−−**||**−−**|
|||Small project allocations fund||||**(4,829)**||
|||**NG15 Appeal**||**21,578**|**−**|**21,578**||
|**_ _ _ _ _ _ _ _ " c ,**|**1**|**1 o l t i r c f c _ l a s s**<br>**s**<br>**on−fun**||**25**|**−**|**25**||
|**−**||**.**<br>**oronavirus appeal fund**||**241**|**(3)**|**238**||
|||||**178,919**|**(38,890)**|**140,029**||
|||**Restricted funds**||||||
|||**NG15 project fund**||**32,371**|**(247,614)**|**(215,243)**||
|||**K1** project fund||**581**||**581**||
|||||**32,952**|**(247,614)**|**(214,662)**||
|||**TOTAL FUNDS**||**211,871**|**(286,504)**|**(74,633)**||
|||**Comparatives for movement in funds**||||||
|||||Net|Transfers|||
|||||movement|between|At||
||||At 1.1.21|in funds|funds|31.12.21||
||||£|£|£|£||
|||**Unrestricted funds**||||||
|||Uncommitted fund|146,133|(35,832)|(65,729)|4t−57:2||
|||Historical railway assets fund|700||−|700||
|||Station View property fund|25,−3774|4,626|−|230,000||
|||Station_View,maintenance−fund<br>−NG15−Contingency−fund|;9To<br>90,000|(2,500)|6,000<br>(67,744)|22,256||
|||Small project allocations fund|41;779|(16,176)|4,143|29,746||
|||NG15 Appeal|−|11,310||11,310||
|||GG16 boiler appeal fund|8,710|(8,710)|−|||
|||Third class saloon fund|88,619|12,223|49,158|150,000||
|||Dinas facilities contingency fund|5,225|(1)|6,428|11,652||
|||Coronavirus appeal fund|3,259|(3,142)|−|117||
||||617,709|(38,202)|(67,744)|511,763||
|||**Restricted funds**||||||
|||NG15 project fund|22,496|(81,498)|67,744|8,742||
|||K1 project fund|31,991|746||32,737||
||||54,487|(80,752)|67,744|41,479||
|||**TOTAL FUNDS**|672,196|(118,954)||553,242||





## 

||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|
||resources|expended|losses|in funds|
||£|£|£|£|
|**Unrestricted funds**|||||
|Uncommitted fund|104,496|(140,329)||(35,833)|
|Station View property fund|−||4,626|,62−−<br>−6−−−−−−−−−−−|
|Station View maintenance fund|2,365|(4,865−||(2,500)|
|Small project allocations fund|9|(16,195)||(16,176)|
|NG15 A<br>e|11,310|−|−|11,310|
|G16 boiler appeal fund||(8,710)|−|(8,710)|
|Third class saloon fund|12,223|−||12,223|
|Dinas facilities contingency fund|||||
|Coronavirus appeal fund|2,253|(5,395)||(3,142)|
||132,666|(175,494)|4,626|(38,202)|
|**Restricted funds**|||||
|NG15 project fund|10,495|(91,993)||(81,498)|
|K1 project fund|746|||746|
||11,241|(91,993)||(80,752)|
|**TOTAL FUNDS**|143,907|(267,487)|4,626|(118,954)|



||||**Net**|Transfers|||
|---|---|---|---|---|---|---|
||||movement|between||At|
|||At 1.1.21|in funds|funds||31.12.22|
|||£|£|£|'||
|**Unrestricted funds**|||||||
|Uncommitted fund|||9.0,133|(223,668)||10,598|
|−−−−−−−−−−−−<br>Historicakrailwa _a.ssets,fiind−−−<br>−||700|−|||70|
|StaticifiView_property−furd||225,374|,626|−||230,000|
|Station View maintenance fwad||7:910|(5,448)|12,116||14,578|
|NG15 c _ntingeney−fun−||90,000|−|(90,000)||−|
|Small project allocations fund||41,779|(21,005)|4,462||25,236|
|NG15 Appeal||−|32,888|(32,802)||86|
|NGG16 boiler appeal fund||8,710|(8,710)|||−|
|Third class saloon fund||88,619|12,248|49,158||150,025|
|Dinas facilities contingency fund||5,225|(1)|6,428||11,652|
|Coronavirus appeal fund||3,259|(2,904)|−||355|
|||617,709|101,827|(276,306)||443,230|
|**Restricted funds**|||||||
|NG15 project fund||22,496|(296,741)|276,306||2,061|
|K1 project fund||31,991|1,327|−||33,318|
|||54,487|(295,414)|276,306||35,379|
|**TOTAL FUNDS**||672,196|(193,587)|||478,609|





## 

||||uns, includ|ed in the above|
|---|---|---|---|---|
||Incoming|Resources|||
|**Unrestricted funds**<br>Uncommitted fund<br>Station View property fund<br>Station View maintenance fund<br>Small pro'ect a • cations−ft−In<br>Appeal<br>NGG16 boiler appeal fund<br>Third class saloon fund<br>Dinas facilities contingency fund<br>_C o r o n a s_ appeal fund|resources<br>**£**<br>258,582<br>_<br>,3.)4<br>/ 9<br>32,888<br>−<br>12,248|expended<br>**£**<br>(168,450)<br>(10,802)<br>(21,024)<br>(8,710)|Gains and<br>losses<br>£<br>4;62<br>−6|Movement<br>in_funds_<br>**£**<br>90,−112<br>4,626<br>(5,448)<br>32,888<br>(21,005)<br>(8,710)|
||2,494||−|12,248|
|**Restricted** _funds_<br>NGI5 project fund<br>K I project fund|311,585<br>42,866<br>1 327|(214,384)<br>(339,607)|−<br>4,626|101,827<br>(296,741)|
|**TOTAL FUNDS**|_44,193_|_022.617)_||1 327|
|||||_2_21LID−_|
||_355,778_|_.(1.51.92)_|||
||||_4,626_|.(1932_5132)|





## 

|**Unrestricted Funds**||
|---|---|
||See the Reserves Policy for full details −maintained at a higher level this year to|
||allow greater flexibility for the trustees to respond to the challenges posed by|
||Covid−19.|
|**Designated Funds**||
||Designated Funds generally are funds which have been a l l o c a t e d t e e s −−−−−−−−−−−−−<br>—|
||for particular purposes within thels2Re_stfithe_chafiteble−olije—c−fives, but which|
||can, i fap ro_date−be−reallocatedatthe trustees' discretion.|
|onView Capital Fund|This represents the historical acquisition cost o f Station View and its capital|
||value is subject to periodical revaluations.|
|Historical Railway Assets|The historical valuation o f a small collection o f railway heritage items donated|
||orpurchased by the Charity overthe years.|
|NG15 appeal|This being the 2021 annual appeal, held**to**support the restoration o f NG15|
||locomotive number 134.|
|NGG16 boiler|The residue o f the proceeds o f the 2018 annual appeal together with funds|
||additionally allocated to this project by the trustees, the money will be paid over|
||to the FRCo as and when work on 143's boiler is completed, and the cost|
||claimed by the FRCo.|
|Third class saloon|Proceeds o f the 2019 and 2020 annual appeal together with funds additionally|
||allocated to this project by the Trustees. Funds continue to accumulate during|
||2022. The money will be paid over to the FRCo as and when work on the|
||carriage, provisionally numbered 2050, commences and the cost claimed by the|
||FRCo.|
|Smaller Projects|Allocated by the trustees to provide for small scale projects and purchases NV|
|Allocation|the scope of the charitable objectives.|
|Station View Property|Netfincomeranliture−relatin:g−to use o f Station View as volunteer|
|Fun—d|accomm−odalion.|
|NG15 Project|unds−allocated by the trustees to support restoration o f NG15 locomotive|
|Contingency|number 134. This fund is separate from the NG15 Restricted Fund but has the|
||same purpose.|
|Dinas Facilities|Funds allocated by the trustees to support provision o f workshop space at Dinas|
|Contingency|for the use o f volunteers. This fund was accumulated from legacies left to the|
||Society.|
|Coronavirus Appeal|Society worked with the railways' two other supporting charities, the Ffestiniog|
||& Welsh Highland Railways Trust and the Ffestiniog Railway Society, to|
||manage an emergency appeal on to supportthe railways through the Covid−19|
||pandemic. Funds were donated through each o f the three charities.|





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