REGISTERED COMPANY NUMBER: 03157171 {England and Wales) REGISTERED CHARLTY NUMBER: 1094938 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 FOR CYMDEITHAS RHEILFFORDD ERYRI ALSO KNOWN AS WELSH HIGHLAND RAILWAY SOCIETY Williams Denton Cyf Chartered Certified Accountsnts Glaslyn Ffordd y Parc Parc Menai Bangor Gwyn¢dd LL57 4FE
CYMDEITHAS RHEILFFORDD ERYIU ALSO KNOWN AS WELSH HIGHLAND RAILWAY SOCIETY CONTENTS OF THE FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Page Report of the Trustees Independent Examkner's Report Statement of Finvdncial Activities Balance Sheet 9 to 10 Notes to the Financial Stalements 11 to 18 Detailed Statement of FiDaD¢ial Activities 19 to 20
CYMDEITHAS RHEILFFORDD ERYRI ALSO KNOWN AS WELSH HIGHLAND RAILWAY SOCIETY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees who are also directors of the charity for the PUTposes of the Companies Act 2006, present their report with the financial statements of the chaTity for the year ertded 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Chatities: Statement of Recommended Practice applicable to ChltIeS preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of treland (FRS 102) (efferliv¢ l January 2019). OBJECTIVES AND ACTIVITIES Objectives and aims The charitable company is ¢slablished for the advancem¢nt of the education of the public by ¢n¢owaging and promoting public interest in the Caernoll to Porthnmdog Railway including the fornier Welsh Highland Railway (the IVHR) which closed in tbe 1930s. This includes its history. restoration. operation, railway locomotives and rolling stock, machin¢ry and equipment of historical and general interest. The WHR is owned and operated by the Festiniog Railway Company (the Company). The Society's members play a leading part in the maintenance. development and operation of the WHR. The most significant proportion of the Society's work involves sponsoring and funding projects around the rnilway. Tbese range from the more obvious things such as the restoration of locomotives such as NG15 No134 Kalahari, together with the maintenance and improvement of the tracl through to less glamorous tasks such as the constDJction of station Si&S and other furniture. Page I
CYMDEITHAS RHEILFFORDD ERYRI ALSO KNOWN AS WELSH HIGHLAND IL41LWAY SOCIETY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 ACHIEVEMENT AIND PERFORMANCE Charitable activities 2024 Saw the Society CQDtinue to pursue its Chitable objectives. In conjunction with the Festiniog Railway Company the Society hosted a successful AGM weekend in September 2024 with NG15 No134 KalabaTi on display in steam alld available for foottilate rides and a special train for members and guests hauled by the first Garratt locomotive Kl. The AGM saw the retirement of two long SeIng Directors. Dafydd Thomas and Elwyn Jones, both joined the Board as long ago 2000 with Dafydd being Chaiman for 14 years. Tbeir commitment and experience will be much missed and th¢ Board thanks them on behalf of the Society and the railway generally. RogeT Bentley and Caleb iA)v¢grove werc w¢lcomed to the Board. both are exp¢ri¢nced foolplat¢ volunt¢¢rs and Rog¢r is also a Dir¢cior of the Ff¢stiniog Railway Society. These changes mean that seven of the Dine directors have been elected in the last four years. We hav¢ lost experience but gained fresh perspectives. Also during tILe year our Honorary Archivist, Gareth Haulfryn Williams, infornied us he wanted to retire from office. The Society's Board thanks him for many years, hard work on our behalf. We were very fortunate that a volunteer quicldy offered to fill the vacancy and Dave Russell, who many of our members will already know from his work as a platforni host and Boston Lodge guide, was appointed. We very much look forward to working with Dave. Towards the close of the 2024 season, Society Directors again joined colleagues from the Ffestiniog Railway Society to support the Company's Bygones Weekend. Recognising the common aim of supporting the ongoing maintenance, development and running of the Welsh Highland and the Ffestiniog Railways, Directors fronl both Societies now share examples of good practice and innovation. The Society was again pleased to work alongside the Company staff in the planning and ning of Santa trains. After many years of successful operation we are now frequelltly welcoming the children of parents who themselves were passengers when they were children. In addition to the recrnitment of volunteeT elves, who collectively contributed many hours of volunteer time. teams of other volunteers were on hand to prepare and pack gifts, to welcome and entertain children and families and to clean the trains in preparation for afternoon trips. For many local families, trips on our bilingual Welsh and English language Santa trains are now an umnissable part of their Christmas, and, for the Society, an ideal OPPOTtunity to promote local interest in the Railway, its history and locomolives. Unfortunately the first weekend of 2024's Santa trains was affected by Storni Darragh resulting in the cancellation of the Saturday trains. A herculean effort by the railway's staff and volunteers allowed the Sunday to proceed as platjned. Thes¢ aclivitics ar¢ only possibl¢ b¢caus¢ of OUT volunteers and a vital aspect of the Society's puryose is to support and encourage volunteering. In addition to the many members who have support¢d th¢ Company t]Ough individual volunteering as locomotive crew and Guards. in Pernnent Way and customer service Tole5 (such hosts and stewards in stations and on trains), Tegular working parties have been co-ordinated. Groups such a5 the Black Hand Gang, Tuesday Gang and the Tuesday Engineering Gang provided vital input throughout the year into nwintenance on and around the track and at Dinas works and locomotive shed. Often all too unsung are the volunteers who perforni the Society's administration. the membersbip secretaries. the treasurer and editor. Their valuable WOTk allows the Society to deliver its objectives without incuring significant expense. Excluding the Cost of printing and CiTculating The Snowdon Ranger the Society's expenses amount just over 20/0 of our voluntary income. A significant focus of volunteer activity for many years has been the ongoing restoration of NG15 No134 Kalahari. Significant volunteer hours were put in between January and December 2024. The skill base of the volunteer group continued to expand through a mix of training and on-the-job experience. As well as the volunteers, work was carried out by locally cmploycd Festiniog Railway Company staff. This work was funded by the Soci¢ty which bas now spent ovcr £747,000 on th¢ PTOj¢Ct. Members, guests and visitors were able to see thc locomotive in steam in September, and enjoy footplat¢ rid¢s, and a s¢ries of test trains were worked along the Welsh Highland Railway. It is anticipated that the locon]otive will enter service in 2025. Page 2
CYMDEITHAS RHEILFFORDD ERYRI ALSO KNOWN AS WELSH HIGHLAND RAILWAY SOCIETY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 The Society Board was delighted to see work on the long awaited third class carriage. 2050, begin. This project, estimaled to Cost something approaching £2(10,000, is fijlly funded by donations to the Society and should enter service in 2026. This will be the fourth new carriage paid for by the Society over a decade and a half at a total cost of over £650.000. The appeal for improved facilities for the Welsh Highland locomotive based at Boston Lodge went very well and we were able to allocate over £41,000 to this project. However the building adjacent to Road 8 has been found to be in better condition than expected and this results in a radical redesign of the proposed facilities. The money given for this project is ring fenced and will only be used for WHR loco facilities at Boston Lodge &8 originally intended. The Society has been able to provide continuing support to volunteers who travel from a distance through its "Station View" accommodation at Dinas, which in¢oTporates single or twin rooms, a llY fitted kitchen and comfortable sitting room. Space is also provided for caravans or motorhom¢s with electrical hook-up points and water taps. Rates have been nmintained at existing levels to ensure affordability for all. Four issues of the Society's journal, The Snowdon Rang¢r, were published during the y¢ar, continuing the aim of keeping members up to date with what is happening on and around the Railway. Occasional articles on the history of the Railway and other associaled topics have also been included. Throughout 2024 work continued to re4lesign and update tbe Society's communications. Regular posting of news and stories on social media has seen a significant increase in interest. and our vibrant Thew website was laLm¢hed during 2024. Our thanks go to Society Directors Ben McCorn)ick and Mark Garthier for tbeir many hours work designing and Constructing the new website. Thanks also go to our retiring w¢bmast¢rs Dave Tidy and Laurence Armstrong for their many years looking after our old website. Fundrafising activitieg 2024 saw the continued appeal to raise funds for the restoration of NG15 No134 Kalahari realise a filrther £27,222. This figure includes cash donations received through the highly successful on train envelopes and the leftover cuttency initiative as well as Gift Aid. The appeal to raise fimds for improved locomotive servicing facilities at Boston Lodge raised £31.175 including Gift Aid. FINANCIAL REVIEW FinAn¢lal position The main sources of funds since the Societys inception have been subscriptions. donations and bequests received from its members and other supporters. During 2024 the Society donated £105,380 to th¢ Company (2023.. £116,566) as part of its objective to promote and support the WHIL The donations during 2024 r¢latsd mostly to the NGI 5 refvrbishment. During the year to December 2020 the Society made short tern], interest free loans totalling £400.000 to the Company. These were to assist it with the then usual need for cash in the winter months and also to assist it in dealing with the exceptional cash flow issues resulting from the coronavirus restrictions put in place by the Welsh Goven]ment. In 2024 the Society converted the remaining loan balance of £17,434 into donalions to the Company. Reserves policy The Societys policy is to maintain an adequate ieserve so as to enable Èt to discharge its charitable obj¢ctives, meet its ongoing day to day reqUIrenntS, and maintain gen¢ral thnds to meet its obligations for committed WHR projects. The Soci¢tys Chatr, Finance Director and Treasurer conduct regular reviews of cuffent cash balances and projected cash flow for the forthcoming three years and report accordingly to th¢ Board. Page 3
CYMDEITHAS RHEILFFORDD ERYRI ALSO KNOWN AS WELSH HIGHLAND IL41LWAY SOCIETY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 FUTURE PLANS The Society will continue its work supporting the development of the Welsh Highland Railway and b¢ a sponsor for a variety of new projects and continuing to support long iem) aims and projects. In particular in 2025 the Society hopes to complete the project to restore NG15 No134 Kalahari. proceed wxth construction of carriage 2050 and will be supporting the projects to provide improved servicing facilities for Welsh Highland locomotives operating out of Boston Lodge and improved facilities and equipment for infrastructure staff and volunteers. STRUCTURE, GOVERNANCE AND MANAGEMENr Governln£ document The Society is controlled by its governing document, the Memorandum & Articles of Association, and consti1¢$ a limii¢d company> limited by guarantee, as defined by the Companies Act 2006 and is a registered charity as d¢fin¢d by th¢ Charities Act 2011. Board meetings, recruitment and appolntn)ent The Society trustees held regular meetings during the year which were attended by Society directors & officers. and on occasion, representatives of the Company and trnstees of The Ffestiniog and Welsh Highland Railways Tn]st (The Trust). All trustees are elected lor a period of 3 years and may offer themselves for re-election every three years. Wider network No one person or body related to the Society (by this we refer to the Company. the Trust and associated companies) has the entitlement to appoint any of the Charity's trustees. The Society's trustees are only appointed by th¢ members of the Society. The Society's relationships with its related parties do not directly impact the operating policies adopted by it as no related paty can impose a policy decision or change upon it. The Society's role is to support the WHR and it does this mainly by contributing financially to duly considered requests for funds from related parties in the furtherance of those activities and objectives. Related pariles, Remuneration and Expenses Policy The trustees consider the Society's key management team to comprise of the board of trustees and the senior officers as they are tasked with directing and controlling the operations of the Society on a day404lay basis. There were no directors, remuneration, expenses or related paty transactions in the year, and this confimiation is also disclosed by way of a slatutory nole in th¢ accounls. Risk management The trustees have a duty to identify and review the risks to which the Society is exposed and to ensure appropriate controls are in place to pmvide reasonable &8SUTance against fraud and error. REFERENCE AIW ADMINIST114TIVE DETAILS Reglstered Company number 03157171 (England and Wales) Registered Charity number 1094938 R¢glster¢d office ststion View Dinas Caenwfon LL54 SUB Page 4
CYMDEITHAS RHEILFFORDD ERYRI ALSO IUIOWN AS WELSH HIGHLAND RAILWAY SOCIETY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees D H Thomas (resigned 14.9.24) IRKing E Jones (resigned 14.9.24} M W Garthier A M Strachan B E Mccorniick J M Charles S Gregory D N Jones R D Bentley (appointed 14.9.24) C M Lovegrove (appointsd 14.9.24) Company Secretary A Yale Independent Examiner Williams Denton Cyf Chartered Certified Accountants Glaslyn Ffordd y PaTC Parc Menai Bangor Gwynedd LL57 4FE Bankers Barclays Bank plc Leicester LE87 2BB Metro Bank One Souihampton Row London WCIB SHA Officers Richard Watson- Membership Secretary. Bob Zeepvat - Editor of The Snowdon Rangel. Dave Russell - Ar¢bivist. Stephen Cheeseman- Treasurer Dave Kent - President. Cedric Lodge - Vice President. Stuart McNair- Vice President EVENTS SINCE THE END OF THE YEAR Inforn)ation relating to events since the end of the yeaT is given in the notes to the financial statements. STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees (who ar¢ also the directors of Cymdeithas Rheilffordd Eryri for the pury)oses of ¢ompany law) are responsible for pr¢paring the Report of the Twstees and the financial stat¢ments in accordance wilh applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Page 5
CYMDErrHAS RHEILFFORDD ERYRI ALSO KNOWN AS WELSH HIGHLAND RAILWAY SOCIETY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 STATEMENT OF TRUSTEES, RESPONSIBILITIES - continued Company law requires the trustees to prepare financial statements for each fmancial year which giv¢ a true and fair view of the slate of affairs of the charitable company and of the incoming resources and application of resources. including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trnstees are required to scl¢ct suitabl¢ accounting policies and then apply them consistenily. observe the methods and principles in the Charity SORP; make judgements and estimates that are reasonable and prudent; prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charitable company will continu¢ in busin¢ss. The trust¢¢s ar¢ r¢sponsibl¢ for k¢¢ping prop¢T accounting T¢cords which disclos¢ with reOnable accuracy at any time the financial position of the charitable 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. This report has been prepared in accordance with the Speci provisions of Part 15 of the Companies Act 2006 relating to Sn11 companies. Approved by order of the board of trustees on............... . and signed on its behalf by: l R King - Trustee Page 6
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CYMDEITHAS RHEILFFORDD ERYIU Independent examiner'$ report to the trustees of Cymdeitha$ RheillTordd Eryn {'tbe Company,) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2024. Responsibilitie5 and basis of report As the charity's trustees of the Cotnpany (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in acwrdance with the reqUirennts of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are ¢ligible for independent examination, I rq)ort in respect of my examination of yout charity's accounts as carried out under Section 145 of the Charities Act 2011 ('tbe 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Conjmission uThdeT Section 145(5) (b) of the 201 l Act. Independent eiaminer's statement .1 have completed my examination. I confTh that no matters have come to my attention in connection with the eAan)ination giving me cause to believe: accounting records were not kept in Tespeth of the Company as requir by Section 386 of the 2006 Act. or the accounts do not a¢¢ord with those records. or the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any r¢quirement thai the accounts give a tnje and fair view which is not a matter considered as part of an independent examination. or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recomn]ended Practice for accounting and reporting by charities (applicable to chaTities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). I have no concerns and have come across no other matters in connection with the ¢xamination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Mr Martin Barrett FCCK CTA, MAAT Williams Denton Cyf Chartered Certified Accountants Glaslyn Ffordd y Parc Parc Menai Bangor Gwynedd LL57 4FE Page 7
CYMDEITHAS RHEILFFORDD ERYIU ALSO KNOWN AS WELSH HIGHLAND 1141LWAY SOCIETY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 Total funds 2023 Total fi]nds Unrestricted nds Restricted fimds Notes INCOME FROM Donations and legacies 28,845 5,163 34,1)08 28,189 Charitable activities A¢¢on)modation Subscriptions and App¢als 5,242 104,036 5,242 126,215 3.336 102.819 22,179 Other trading activities Investment income 740 11,282 740 11,282 1,075 4,001 Totydl 150,145 27 J42 177,487 139,420 EXPENDrruRE ON Charitable activitie$ Donations to the Festiniog Railway Company Accommodation Printing, stationery, postage etc Governance and support 18,109 4,674 26,885 3,772 87,271 105,380 4,674 26,885 3,772 116.566 3,781 25,545 9,617 Total 53,440 87271 140,711 155,509 NET INCOMEI(EXPENDITURE) Transfers between funds 96,705 (60,673) (59,929} 60,673 36,776 (16,089) 13 Net movement in funds 36,032 744 36,776 {16,089) RECONCILIATION OF FUNDS Total funds brought forward 429,009 33,511 462,520 478,609 TOTAL FUNDS CARIUED FORWARD 465,041 34,255 499,296 462,520 The notes forn) part of these fllmncial statements Page 8
CYMDEITHAS RHEILFFORDD ERYRI ALSO KNOWN AS WELSH HIGHLAND RAILWAY SOCIETY BALANCE SHEET 31 DECEMBER 2024 2024 Total funds 2023 Total nds Unrestricted funds Restricted fijnds Notes FIXED ASSETS Tangible assets Investments 230,700 230,700 230,700 230,701 230,701 230,701 CURRENT ASSETS Debtors Cash at bank 12,844 298,275 2,030 38,602 14074 336,877 31,766 295,821 311,119 40,632 351,751 327,587 CREDITORS ATnounts falling due within one year io (50,501) (6,377) {56J78) (40,162) NET CURRENT ASSETS 260,618 34255 294,873 287,425 TOTAL ASSETS LESS CURRENT LIABILITIES 491J19 34,255 525,574 518,126 CREDJTORS Amounts falling due after more than one year (26,278) (26,278) (55,606) IYET ASSETS 465,041 34255 499,296 462,520 FUNDS Unrestricted fimds Restricted funds 13 465,041 34,255 429,009 33,511 TOTAL FUNDS 499,296 462,520 The ¢haritsble company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 Dec¢mber 2024. The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006. The trustees knOwledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the stste of affairs of th¢ charitable company as at the end of each financial y¢ar and of its surplus or deficit for each financial year in accordance with the requircments of Sections 394 and 395 and which otheiSe comply with the requir¢mcnts of the Companies Act 2006 relating to fllmncial statements, so far as applicable to thc charitable company. (b) The notes forn] part of these financial stafrments Page 9 ontinued...
CYMDEITHAS RHEILFFORDD ERYRI ALSO KNOWN AS WELSH HICHLAND RAILWAY SOCIETY BALANCE SHEET- ¢ontinued 31 DECEMBER 2024 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. ial statements were appmved by the Board of Trustees and auth()ris¢d for issue . and were signed on its behalf by: on R D Bentley - Trustee l R King- Trustee The notes forni part of thes¢ financial statements Page 10
CYMDEITHAS RHEILFFORDD ERYRI ALSO KNOWN AS WELSH HIGHLAND IL41LWAY SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTII¥G POLICIES Basis of preparing the financial statements The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORTr (FRS 102) 'Accounting and Reporttng by Charities: Statement of Rec0MnTrded Practi¢¢ applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The fmancial statements have been prepared under th¢ historical cost convention, with the exception of investments which are included at market value. Income All income is recognised in the Statement of Financtal Activities once the charity has entitlement to the fimds, "it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount ofthe obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be direcdy attributed to particular headings they have been allocated to activities on a b&sis consistenl with the use of resources. Tangible fixed assets Fixed assets are capitalised if they cost more than £1,000 and are deemed to have a useful life of more than five years. Once capitalised, qualifying assets are disclosed in line with the following policies, which the trustees have deemed appropriate in order for the financial statements to reflect a 'lTue and fair view,. Freehold ro Station View, was acquired in 2017 for the purpose of providing low cost accommodation to railway volunteers, with this being one of the Society's primary objeclives. The requirements are that a tangible fixed asset, less its residual value, must be depreciated on a sYStentic basis over its useful econon)ic life, however the tNstees arc of the view that the property has a high residual value, which will remove the need for depreciation to be charged. tnstead. an annual impairment review will be undertaken and a full revaluation will be carried out on a rolling 5 year basis, with the next revaluation being due to be reported in the 31 December 2026 f181 statements. The annual impairnient review, coupled with a rolling 5 year revaluation policy is deemed to be sufficienl to ensure that the departure from the Charities SORP (FRS 102), FRS 102 (effective l January 2019) and Companies Act 2006 requirements are not material in nature. The historical railwav assels Those recognised at a cost are comprised of a signal box sign, a model locomotive and the Nantlle map. Although th¢se n)ight be considered as historically important to the railway, they are not CUkTently Considered to be heritage assets. No depreciation is provided with regards these assets, as its affect upon the fillancial statements is again deenrd to be immaterial. These departures from accounting standards, believed by the tSteeS to k necessary for a'true and fair view to be reported, are not deemed to be material with regard their affect upon the fInancial statements. Taxation The charity is exempt from COTporation tax on its charitable activities. Pagell continued..
CYTrIDEIThAS RHEILFFORDD ERYIU ALSO KNOWN AS WELSH HIGHLAND IL41LWAY SOCIETY NOTES TO THE FINANCIAL STATEMENTS - eontinued FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES - continued Fund accounting Unrestricted funds Can be used in accordance with the charitable objectives at the discretion of the tsvstees. Restricted fimds can only be used for particular restricted purposes within the objects of th¢ charity. Restrictions aTise when specified by the donor OT when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fimd is included in ihe notes to the financial stalements. OTHER TRADING ACTIvrriES 2024 2023 Sales Advertising r¢v¢nu¢ 192 548 112 963 740 1,075 INVESTMENT INCOME 2024 2023 Interest 11,282 4,001 NET INCOMEI(EXPENDITURE) Net incomel(expenditure) is stated after chargIn(Crediting). 2024 2023 Auditors, remuneration Other non-audit services 2,936 1,260 2,435 TRUSTEESI REMUNERATION AND BENEFITS There were no trnstees, remuneration or other benefits for the year ended 31 Decetnber 2024 nor for the year ended 3 l December 2023. Trnstees, expenses There were no trustees, expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023. Page 12 continued...
CYMDEITHAS RHEILFFORDD ERYRI ALSO KNOWN AS WELSH HIGHLAND RAILWAY SOCIETY NOTES TO THE FINANCIAL STATEMEIYIS - contlDued FOR THE YEAR ENDED 31 DECEMBER 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds Restricted fimds Total funds INCOME FROM Donations and legacies 24,794 3,395 28,189 Charltable aetivities Accommodation Subscriptions and Appeals 3,336 86,858 3,336 102,819 15,961 Other trading activities Investment income 1.075 4,001 1,075 4,001 Total 120,064 19,356 139,420 EXPENDITURE ON Charitable activities Donations to the Festiniog Railway Company Accommodation Printing, stationery, postage etc Governance and support 7,185 3,781 25,545 8,130 109,381 116,566 3,781 25,545 9,617 1,487 Total 44,641 110,868 155,509 NET INCOMEIffjXPENDITURE) Transfers between funds 75,423 (89,644) (91,512) 89,644 (16,089) Net movement in funds (14,221) (1,868) (16,089) RECONCILIATION OF FUNDS Total funds brought forward 443,230 35,379 478,609 TOTAL FUNDS CARRIED FORWARD 429,009 33,511 462,520 TANGIBLE FIXED ASSETS Dinas signal box sign Freehold propety Model Locomotive Nantlle Totals COST At l January 2024 alld 31 December 2024 230,000 375 loo 225 230,700 NET BOOK VALUE At 31 De¢¢mber 2024 230,000 375 loo 225 230,700 At 31 Decen]ber 2023 230,000 375 loo 225 230,700 Pag¢ 13 continued...
CYMDEITHAS RHEILFFORDD ERYRI ALSO KNOWN AS WELSH HIGHLAND RAILWAY SOCIETY NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 FIXED ASSET INVESTMENTS Unlisted investments MARKET VALUE At l January 2024 and 31 December 2024 NET BOOK VALUE At 31 December 2024 At 31 December 2023 There were no investment assets outside thc UL DEB TORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debtors Gift aid claims Bequests Company Loans 8,352 6,521 8.489 5,842 17,434 14,874 31,766 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Bank loans and overdrafts (see nots 12) Trade creditors ACCn and defeed income 19.612 9.622 10,928 25.224 31,654 56,878 40,162 Page 14 continued...
CYMDErrHAS RHEILFFORDD ERYRI AISO KNOWN AS WELSH HIGHLAND RAILWAY SOCIETY IYOTES TO THE FINANCIAL STATEMENfs - continued FOR THE YEAR ENDED 31 DECEMBER 2024 11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2024 2023 Accnwls and deferred income 26,278 55,606 12. LOANS An analysis of the maturity of loans is given below.. 2024 2023 Amounts falling due within one year on denwnd: Bank oveTdrafts 19,612 13. MOVEMENT IN FUNDS Net tnovement in funds Transfers between funds At 31.12.24 At 1.1.24 Unrestricted funds General fimd Historical railway assets fi]nd Station View propety fund Smaller project allocation fimd Third class saloon appeal fund Dinas facllities contingency fimd Boston Lodge Road 8 appeal fund 6,902 700 246,910 13,820 150,025 652 10,000 83,070 (84,281) 5,691 700 247,479 12,593 157,403 569 (8,512) (9,597) 7,285 16,975 (652) 31,175 41,175 429,01)9 96,705 (60,673) 465,041 Restricted funds NG15 project Kl project (60,049) 120 60,673 624 33,631 33,511 33,511 (59.929) 60,673 34,255 TOTAL FUNDS 462,520 36,776 499,296 Page 15 continued...
CYMDEITHAS RHEILFFORDD ERYRI ALSO KNOWN AS WELSH HIGHLAND RAILWAY SOCIETY NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 13. MOVEMENT IN FUNDS - eontfinued Net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds G¢n¢ral fund Station View propety fund Smaller project allocation fimd Third class saloon appeal fund Boston Lodge Road 8 appeal fund 113,727 5,243 (30,657) (4,674) (8,512) (9,597) 83,070 569 (8,512) (9,597) 31.175 31,175 150,145 (53,440) 96.705 Restri¢t¢d funds NGI 5 project Kl project 27,222 120 (87,271) (60,049) 120 27J42 (87,271) (59,929) TOTAL FUNDS 177,487 (140,711) 36,776 ConJparative5 for movement in funds Net movement in funds Transfers between funds At 31.12.23 At 1.1.23 Unrestricted funds General fund Historical railway assets fund Station View property fulld Snvaller project allocation fund NG15 appeal Third class saloon appeal fimd Dinas facilities contingency fimd Coronavirus appeal fund Boston Lodge Road 8 appeal fund 10,598 700 244,578 25,236 86 150.025 11,652 355 68.790 (72,486) 6,902 700 246,910 13,820 (444) (6.831) 14,263 2,776 (4,585) (14,349) 150,025 652 (I 1,000) (355) 10,000 i 0,000 443.230 75.423 (89,644) 429,009 Restricted funds NGI 5 project Kl project 2,061 33,318 (91,705) 193 89,644 33,511 35,379 (91,512} 89,644 33,511 TOTAL FUNDS 478,609 (16,089) 462,520 Page 16 Continued...
CYMDErrHAS RHEILFFORDD ERYRI ALSO KNOWN AS WELSH HIGHLAND RAILWAY SOCIETY NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 13. MOVEMENT IN FUNDS - colllinued Con]parative net movement in funds. included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund Station View property fimd Smaller PToject allocation fund NG15 appeal Coronavirus appeal fifftd 102.465 3,336 (33,675) (3.780) (6,831) 68,790 (444) (6,831) 14,263 (355) 14.263 (355) 120,064 (44.641) 75,423 Restricted funds NG15 project Kl project 19.163 193 (110,868) (91,705) 193 19.356 (110,868) (91,512) TOTAL FUM)S 139,420 (155,509) {16,089) A current year 12 months and prior year 12 montbs combined position is as lollows.. Net movement in funds Transfers between fimds Ai 31.12.24 At 1.1.23 Unrestricted funds General fund Historical railway assets fund Ststion View propety fund Smaller project allocation fund NGI 5 appeal Tbird class saloon appeal fia Dinas facilities contÈngency fund Coronavirus appeal fund Boston LA)dge Road 8 appeal fund 10,598 700 244,578 25,236 86 150,025 11,652 355 151.860 (156,767) 5,691 700 247.479 12,593 125 (15,343) 14.263 (9,597) 2,776 2,700 (14,349) 16,975 (11,652) 157,403 (355) 31.175 10.000 41.175 443,230 172,128 (150,317) 465,041 Restricted funds NG15 project Kl project 2,061 33,318 (151,754) 313 150,317 624 33,631 35,379 {l51,441) 150,317 34,255 TOTAL FUNDS 478,609 20,687 499.296 Page 17 continu¢d...
CYMDEITHAS RHEILFFORDD ERYRI ALSO KNOMqN AS WELSH HIGHLAND RAILWAY SOCIETY OTES TO THE FINANCIAL STATEMENTS - eonlinued FOR THE YEAR ENDED 31 DECEMBER 2024 13. MOVEMENT IN FUNDS - continued A current year 12 montbs and prior year 12 months combined net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in fijnds Unrestricted fund5 General fund Station View propety fund Smaller project allocation fund NG15 appeal Third class saloon appeal nd Coronavirus appeal fund Boston Lodge Road 8 appeal fi]nd 216,192 8,579 (64,332) (8,454) (15,343) 151,860 125 (15,343) 14,263 (9,597) (355) 31.175 14,263 (9,597) (355) 31,175 270,209 (98,081) 172.128 Restricted fund5 NG15 project Kl project 46.385 313 (198,139) (151,754) 313 46,698 (198,139) (151,441) TOTAL FUNDS 316,907 (296,220) 20,687 14. RELATED PARTY DISCLOSURES There were no related paty transactions for the year ended 31 December 2024. 15. EVENTS SINCE THE EIYD OF THE YEAR tnforntstion relating to any events since the end of th¢ year is given in the notes to the financial statements. Page 18
CYMDEITHAS RHEILFFORDD ERYIU ALSO KNOWN AS WELSH HIGHLAND RAILWAY SOCIETY DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 INCOME Donations and legacies Donalions and legacies Gift aid 9,140 24,868 7,338 20,851 34,1)08 28,189 Other trading activities Sales Advertising VenUe 192 548 112 963 740 1,075 Investment income Interest 11,282 4,001 Charitable activities Annual subscriptions Life membership Diamond appeal Ststion view income NGI 5 income Kl income NG15 appeal Boston Lodge Road 8 appeal 69,580 6,990 2,150 5,242 22,083 96 65.506 7,460 2,236 3.336 15,807 154 11,656 25016 131,457 106,155 Total in¢omlllg resouree$ 177,487 139,420 EXPENDITURE Charitable activities Postage and stationery Sundries 26.885 426 87271 9597 8,512 455 978 269 1,654 1,148 137,195 25.545 3,474 109,380 NG15 Third class saloon Other projects Insurance Heat & light Rates & water Cleaning & clearance Repairs & renewals Carried fonvard 7,186 477 912 293 1.462 478 149.207 This pag¢ does not forn] part of the statutory financial statements Page 19
CYMDEITHAS RHEILFFORDD ERYIU ALSO KNOWN AS WELSH HIGHLAND RLwAy SOCIETY DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Charitable activities Brought forward Licences 137,195 170 149,207 159 137J65 149,366 Support costs Management AGM expenses 475 1,520 Finance Bank charges Discounts 436 427 436 427 Governanee eosts Auditors, remuneration Auditors, remuneration for non audit work 2,936 1,260 2,435 2,435 4,196 Total resources expended 140,711 155,509 Net in¢omel(expenditure) 36,776 (16,089) This pag¢ does not fojrn part of the statutory financial statements Page 20