Company registration number: 04294363 Charity registration number: 1095790
East Kent Railway Trust (A company limited by guarantee)
Report and Accounts
31 January 2021
Company registration number: 04294363 Charity registration number: 1095790
East Kent Railway Trust
(A company limited by guarantee)
Trustees' Report
The trustees, who are also the directors East Kent Railway Trust for the purpose of company law, present the annual report together with the financial statements of the charitable company for the period ended 31 January 2021.
The year ending 31st January 2021 was affected badly by the Covid-19 pandemic and the resulting ‘lockdown’. Fixed costs such as Insurance, Professional Charges, Utilities, Infrastructure and Rolling Stock maintenance and repairs were all covered. A small amount of low-cost development was able to take place, using volunteer labour. A number of Government grants were received which have allowed us to proceed into 2021.
Trustee Directors
The trustee directors shown below held office during the whole of the period to 31st January 2020
Mr D Harris Mr A C Coe Mr A Hodges Mr A Fox Mr K Caley Mr C Keverne Mr D Macey Mr J Bowman
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the trustees of the charity on 30th September 2021 and signed on its behalf.
Mr D Harris Chairman and Trustee
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East Kent Railway Trust
Independent Examiner's Report to the trustees of East Kent Railway Trust
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the period ended 31 January 2021
Responsibilities and basis of report
As the charity’s trustees of the Company (who are also the directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”)
Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination, I have followed the directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act.
I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that:
• accounting records were not kept in accordance with section 386 of the Companies Act 2006;or
• the accounts do not accord with such records; or
• the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 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; or
•the accounts have not been prepared in accordance with the Charities SORP (FRS102).
Red Business Solutions Limited Accountants
35 Coxhill Gardens River Dover Kent CT17 0PX
30th September 2021
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East Kent Railway Trust Profit and Loss Account for the year ended 31 January 2021
| Turnover Cost of sales Gross profit Administrative expenses Operating profit/(loss) Profit/(loss) before taxation Tax on profit/(loss) Profit/(loss) for the financial year |
2021 £ 64,921 (10,762) 54,159 (51,632) 2,527 2,527 - 2,527 |
2020 £ 55,264 (11,568) 43,696 (47,152) (3,456) (3,456) - (3,456) |
|---|---|---|
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East Kent Railway Trust Statement of Changes in Equity for the year ended 31 January 2021
| At 31 January 2019 Loss for the period At 31 January 2020 At 1 February 2020 Profit for the financial year At 31 January 2021 |
Other Reserves £ 54,101 54,101 54,101 54,101 |
Profit and loss account £ 141,508 (3,456) 138,052 138,052 2,527 140,579 |
Total £ 195,609 (3,456) 192,153 192,153 2,527 194,680 |
|---|---|---|---|
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Company registration number: 04294363 Charity registration number: 1095790
East Kent Railway Trust
(A company limited by guarantee)
Balance Sheet as at 31 January 2021
| Notes Fixed assets Tangible assets 3 Current assets Debtors 4 Cash at bank and in hand Creditors: amounts falling due within one year 5 Net current assets Net assets Capital and reserves Other Reserves Profit and loss account |
2021 £ 171,238 13,840 41,009 54,849 (31,407) 23,442 194,680 54,101 140,579 194,680 |
2020 £ 164,383 24,649 31,334 55,983 (28,213) 27,770 192,153 54,101 138,052 192,153 |
|---|---|---|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an 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 Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr D Harris Chairman and Trustee Approved by the board on 30th September 2021
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East Kent Railway Trust Notes to the Accounts for the year ended 31 January 2021
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land and buildings In accordance with the property Plant and machinery 25% / 20% / 10% on reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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East Kent Railway Trust Notes to the Accounts for the year ended 31 January 2021
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
| 2 Employees Average number of persons employed by the company |
2021 Number 0 |
2020 Number 0 |
|---|---|---|
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East Kent Railway Trust Notes to the Accounts for the year ended 31 January 2021
3 Tangible fixed assets
| Land and buildings Plant and machinery etc £ £ Cost At 1 February 2020 196,109 69,220 Additions - 15,517 At 31 January 2021 196,109 84,737 Depreciation At 1 February 2020 56,892 44,990 Charge for the year 3,049 5,481 At 31 January 2021 59,941 50,471 Net book value At 31 January 2021 136,168 34,266 At 31 January 2020 139,217 24,230 4 Debtors Trade debtors Other debtors 5 Creditors: amounts falling due within one year Trade creditors Other creditors Amounts owed by group undertakings and undertakings in which the company has a participating interest Amounts owed to group undertakings and undertakings in which the company has a participating interest |
Motor vehicles £ 1,295 - 1,295 359 132 491 804 936 2021 £ 1,821 6,900 5,119 13,840 2021 £ 5,049 25,500 858 31,407 |
Total £ 266,624 15,517 282,141 102,241 8,662 110,903 171,238 164,383 2020 £ 16,931 6,900 818 24,649 2020 £ 1,555 25,500 1,158 28,213 |
|---|---|---|
6 Other information
East Kent Railway Trust is a private company limited by guarantee and incorporated in England. Its registered office is: Station Road Shepherdswell Dover Kent CT15 7PD
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East Kent Railway Trust Detailed profit and loss account for the year ended 31 January 2021
This schedule does not form part of the statutory accounts
| Turnover Cost of sales Gross profit Administrative expenses Operating profit/(loss) Profit/(loss) before tax |
2021 £ 64,921 (10,762) 54,159 (51,632) 2,527 2,527 |
2020 £ 55,264 (11,568) 43,696 (47,152) (3,456) (3,456) |
|---|---|---|
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East Kent Railway Trust Detailed profit and loss account for the year ended 31 January 2021
This schedule does not form part of the statutory accounts
| Sales Donations Membership Insurance and rent recovered Other income Cost of sales Cost of sales Fuel Other direct costs Administrative expenses Premises costs: Rates and water Light and heat General administrative expenses: Telephone and internet Postage and stationery Advertising Insurance Licences and subscriptions Repairs and maintenance Waste Depreciation Sundry expenses Legal and professional costs: Accountancy fees Bookkeeping Abbey Tax |
2021 £ 35,817 3,620 15,484 10,000 64,921 5,146 2,970 2,646 10,762 246 13,268 13,514 1,242 1,661 500 8,845 130 13,847 1,571 8,662 - 36,458 500 1,160 - 1,660 51,632 |
2020 £ 30,976 2,866 13,650 7,772 55,264 4,461 2,022 5,085 11,568 147 12,735 12,882 1,158 1,684 250 7,258 1,115 9,731 1,704 9,708 759 33,367 813 - 90 903 47,152 |
|---|---|---|
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