2022-09-30-accounts

Registered number: 02587015 Charity number: 1098733

THE DELTIC PRESERVATION SOCIETY LIMITED (A company limited by guarantee) UNAUDITED TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

THE DELTIC PRESERVATION SOCIETY LIMITED

(A company limited by guarantee)

CONTENTS

	Page
Reference and administrative details ofthe company, itsTrustees and advisers	1
Trustees’ report	2-5
Independent examiner's report	6
Statement of financial activities	7
Balance sheet	8-9
Notestothefinancialstatements	10-23

THE DELTIC PRESERVATION SOCIETY LIMITED

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 2022

Trustees	R M Brown
	P Gildersleve (resigned 1 March 2022)
	D Greenwood
	M J Hallam-Rudd
	D Marsh
	F Naiper-Page (previously SA Page)
	MD Palfreyman
	P Stojanovic
	R NE Walsh
Company registered
number	02587015
Charity registered number	1098733
Registered office	Barrow Hill Railway Centre
	Campbell Drive, Staveley
	Chesterfield
	S43 2PR
Independent examiner	Philip Allsop FCA
	BHP LLP
	2 Rutland Park
	Sheffield
	$102PD

Page 1

THE DELTIC PRESERVATION SOCIETY LIMITED

(A company limited by guarantee)

SS

TRUSTEES' REPORT

FOR THE YEAR ENDED 30 SEPTEMBER 2022

The Trustees present their annual report together with the financial statements of the The Deltic Preservation Society Limited for the year ended 30 September 2022. The Annual report serves the purposes of both a trustees’ report and a directors' report under company law. The Trustees confirm that the trustees’ report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013 has been omitted.

Objectives and activities

a. Public benefit that is provided by the charity

The Board of Trustees have complied with the duty of Section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission.

b. The contribution of volunteers

The Trustees wish to record their gratitude for the work done by volunteers, without which the trust would not exist. There are no paid staff employed by the trust. We are always looking for new volunteers, with relevant skills, to work at Barrow Hill on Wednesdays, Saturdays, and Sundays. The board is actively looking to encourage diversity and has approached various organisations for advice.

Achievements and performance

a. Main achievements and performance

The Board of Trustees are satisfied with the performance of the charity during the year and the position at 30 September 2022 and consider that the charity is in a satisfactory position to continue its activities during the coming year, and that the charity's assets are adequate to fulfil its obligations.

Page 2

THE DELTIC PRESERVATION SOCIETY LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022

Achievements and performance (continued)

b. Review of activities

With Covid 19 restrictions lifted during the year ended 30 September, the Society's activities have return towards “normal”. Our volunteers have resumed work in the Depot which has also been open to the public on selected weekends.

Indeed, 2022 was a year to be celebrated for the Society. It got off to a cracking start when the Great Central Railway management kindly allowed 55019, Royal Highland Fusilier to make three return trips on 2nd January 2022 to mark the 40th anniversary of the last Deltic charter to operate under BR ownership. Over 700 people bought tickets — a staggering number bearing in mind it was the middle of winter and the middle of a pandemic. No less than 525 passengers were carried on the last of the three trains — what an eye opener.

This was followed up by a tumultuous day on the Gloucestershire Warwickshire Railway where 55009 and 55019 had the run of the line with nothing else operating. Just under £40K was taken in fares, let alone income from shops and catering. It was a superb day to mark 40 years of ownership of these two Deltics.

The long saga of returning 55009 to working order moved forward — it was started up in June 2022 but with the to be expected teething matters to sort. All credit is due to Graham Clarke and his team for their work on the long road back from the unfortunate accident in 2019. Various circumstances later saw Graham step back from his role and the board would like to acknowledge the tremendous efforts and dedication that Graham had made. Despite Graham’s departure, our engineering volunteers continued with the task of completing its renovation and securing certification for main line action. We are expecting to see Alycidon resuming mainline rail tour duties during 2023.

Meanwhile, huge strides were made with the objective of returning 55015, Tulyar to working order. Pete Stojanovic and his willing helpers had, by the year end, a pair of completed repaired bogies to be rolled under it, notwithstanding two power units ready to be lifted in.

If 2022 was a year of non-stop progress, then 2023 should see all three DPS Deltics in running order.

Page 3

THE DELTIC PRESERVATION SOCIETY LIMITED

(A company limited by guarantee)

ee TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

With the continued support of our members the Trustees do not currently foresee any financial difficulties but have reserved £40,000 of our cash balances to cover any unforeseen issues.

The DPS Friends scheme launched in 2021, whereby members could support the charity with regular donations, has grown and is nowa significant source of income for the Society.

b. Financial review

The financial statements are set out on pages 7 to 23. As stated in the introduction to this report, the trustees consider the financial performance by the charity during the year to have been satisfactory.

The Statement of Financial Activities shows net income for the year of a revenue nature of £12,831 (2021: £18,543). Total income for the year was £137,074 (2021: £86,960) and total expenditure was £124,243 (2021: £68,417). There is a revaluation gain of £nil (2021: £835,855). Income received included legacies of £10,000 (2021: fnil).

The total reserves at the year end stand at £1,675,796 (2021: £1,662,965).

Free unrestricted liquid reserves amounted to £316,062 (2021: £306,835).

c. Financial Performance of the charity's subsidiary undertakings

The charity has a wholly owned subsidiary DPS Commercial Services Limited, a company registered in England and Wales, whose principal activity is raising funds through commercial operations in support of its parent company.

d. Reserves policy

The objectives of the Trust require that, unless specified by the donor, all funds are applied as soon as possible to maintain assets in the care of the Trust. Therefore, beyond maintaining sufficient funds for ongoing running costs for at least a year ahead (which is around £110,000 on average per year), the Trustees have no requirement to build up further reserves, unless a particular project is to be funded. Free reserves at 30 September 2022 totalled £315,062 (2021: £306,835).

The Trust is currently holding restricted funds, for the development of a Deltic Museum and the remainder of the D9009 insurance fund.

Page 4

THE DELTIC PRESERVATION SOCIETY LIMITED

(A company limited by guarantee)

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022

Structure, governance and management

a. Constitution

The company/charity is governed by the Memorandum and Articles of Association of the Companies Act 2006 and the Charities Act 2011. It is incorporated as a charitable company limited by guarantee. Each member's liability is £1. The trust is run by a Board of 8 members who are appointed, as unpaid volunteers, according to their qualifications or experience in relevent fields of engineering, finance etc. Details of their competencies are shown in the official magazine, "Deltic Deadline". One third of the Trustees resign at the AGM and are subject to re-election by the members, plus any Trustee appointed during the year.

The object of the company continues to be the promotion and encouragement of restoration, preservation, maintenance and operation of English Deltic and other diesel locomotives.

b. Methods of appointment or election of Trustees

Any person can apply to becomea Trustee, subject to a satisfactory assessment of their competencies by appropriate Trustees. Vacancies are also advertised in "Deltic Deadline", the official magazine of the Trust.

Statement of Trustees’ responsibilities

The Trustees (who are also the directors of the company for the purposes of company law) are responsible for preparing the Trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

• e select suitable accounting policies and then apply them consistently;

• ° observe the methods and principles of the Charities SORP 2019 (FRS 102);

• ° make judgments and accounting estimates that are reasonable and prudent;

• ° state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;

• ° prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and 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.

Approved by order of the members of the board of Trustees and signed on their behalf by:

R M Brown

Date: June ) q 2023

;

Page 5

THE DELTIC PRESERVATION SOCIETY LIMITED

(A company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT

FOR THE YEAR ENDED 30 SEPTEMBER 2022

Independent Examiner's Report to the Trustees of The Deltic Preservation Society Limited (‘the company’)

| report to the charity Trustees on my examination of the accounts of the company for the year ended 30 September 2022.

Responsibilities and Basis of Report

As the Trustees of the company (and its directors 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 under Part 16 of the 2006 Act and are eligible for independent examination, | report in respect of my examination of the company's accounts carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination | have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent Examiner's Statement

| have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or

2. 3; the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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

3. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Signed: PAs

Philip Allsop FCA

Dated: 25 Sune. 2aLs

BHP LLP

Chartered Accountants

2 Rutland Park Sheffield

$10 2PD

Page 6

THE DELTIC PRESERVATION SOCIETY LIMITED

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 SEPTEMBER 2022

		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
		2022	2022	2022	2021
	Note	£	£	£	£
Income from:
Donations and legacies	2	90,563	-	90,563	82,966
Investments	3	61	-	61	29
Other income	4	11,245	-	11,245	3,965
Total income		101,869	-	101,869	86,960
Expenditure on:
Raising funds	5	3,212	-	3,212	4,660
Charitable activities		57,660	61,702	119,362	63,757
Total expenditure		60,872	61,702	122,574	68,417
Net income /Net movement in funds
before other recognised gains		40,997	(61,702)	(20,705)	18,543
Other recognised gains:
Gains on revaluation of fixed assets		-	-	-	835,855
Netmovement in funds		40,997	(61,702)	(20,705)	854,398
Reconciliation of funds:
Total funds brought forward		1,545,349	117,616	1,662,965	808,567
Net movement in funds		40,997	(61,702)	(20,705)	854,398
Totalfundscarriedforward		1,586,346	55,914	1,642,260	1,662,965

The Statement of Financial Activities complies with the requirements for an income and expenditure account under the Companies Act 2006 includes all gains and losses recognised in the year.

All income and expenditure derives from continuing activities.

Page 7

THE DELTIC PRESERVATION SOCIETY LIMITED

(A company limited by guarantee) REGISTERED NUMBER: 02587015

<_<SSS

BALANCE SHEET

AS AT 30 SEPTEMBER 2022

			2022		2021
	Note		£		£
Fixed assets
Tangible assets	10		1,279,128		1,274,524
Investments	11		17,000		17,000
			1,296,128		1,291,524
Current assets
Stocks	12	18,320		18,320
Debtors	13	40,687		39,591
Cash at bank and in hand		288,960		317,557
		347,967		375,468
Creditors: amounts falling due within one year	14	(1,835)		(4,027)
Net current assets			346,132		371,441
Total assets less current liabilities			1,642,260		1,662,965
Total net assets			1,642,260		1,662,965
Charityfunds
Restricted funds	15		55,914		117,616
Unrestricted funds
Designated funds	15	40,000		40,000
General funds	15	1,546,346		1,505,349
Total unrestricted funds	15		1,586,346		1,545,349
Totalfunds			1,642,260		1,662,965

Page 8

eeee

THE DELTIC PRESERVATION SOCIETY LIMITED

(A company limited by guarantee) REGISTERED NUMBER: 02587015

----- Start of picture text -----
ST
----- End of picture text -----

BALANCE SHEET (CONTINUED)

AS AT 30 SEPTEMBER 2022

See

The company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

R M Brown Date: June 19 2023

The notes on pages 10 to 23 form part of these financial statements.

eee

Page 9

THE DELTIC PRESERVATION SOCIETY LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

1. Accounting policies

1.1 Basis of preparation offinancial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of lreland (FRS 102) and the Companies Act 2006.

The Deltic Preservation Society Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

1.2 Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

Work has continued on 55009, funded largely by money received from the insurance claim.

With the continued support of our members the Trustees do not currently foresee any financial difficulties but have reserved £40,000 of our cash balances to cover any unforeseen issues. The Trustees have continued to pursue a number of fund raising initiatives and diversified our online sales outlets. The Trustees have confidence that the action being taken will sustain the business in the foreseeable future.

• 1.3. Income

All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants are included in the statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Insurance claims are recognised as income when virtually certain.

Page 10

THE DELTIC PRESERVATION SOCIETY LIMITED

(A company limited by guarantee)

eee

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

1. Accounting policies (continued)

1.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

Expenditure on raising funds includes all expenditure incurred by the company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the company's objectives, as well as any associated support costs.

1.5 Tangible fixed assets and depreciation

Tangible fixed assets are initially recognised at cost.

Included in fixed assets there are three locomotives, which are deemed to be heritage assets. As the assets are used in the operations of the charity, they are accounted for as tangible fixed assets. Heritage assets are recognised on the balance sheet and initially measured at cost when purchased or if donated, their valuation. Assets are subsequently stated at valuation and accumulated impairment losses. Fair values for donated assets are estimated by reference to market prices.

No depreciation is provided on fixed assets as the directors consider the current value of the property and locomotives to be in excess of original costs.

1.6 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the statement of financial activities.

Investments in subsidiaries are valued at cost less provision for impairment.

1.7 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

1.8 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

Page 11

THE DELTIC PRESERVATION SOCIETY LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

¥. Accounting policies (continued)

1.9 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.10 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.11 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

1.12 Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.13 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Page 12

THE DELTIC PRESERVATION SOCIETY LIMITED

(A company limited by guarantee)

eee

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

2. Income from donations and legacies

	Unrestricted	Total	Total
	funds	funds	funds
	2022	2022	2021
	£	£	£
Donations from subsidiary company	21,246	21,246	29,428
Other donations	43,257	43,257	37,083
Legacies	10,000	10,000	-
Membership subscriptions	16,060	16,060	16,455
	90,563	90,563	82,966
Total 2021	82,966	82,966
Investment income
	Unrestricted	Total	Total
	funds	funds	funds
	2022	2022	2021
	£	£	£
Bank interest receivable	61	61	29
Total2021	29	29

3s Investment income

Page 13

THE DELTIC PRESERVATION SOCIETY LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

4. Other income

	Unrestricted	Total	Total
	funds	funds	funds
	2022	2022	2021
	£	£	ir
Raffles etc	3,890	3,890	3,965
Sundry income	7358	7,355	-
	11,245	11,245	3,965
Total2021	3,965	3,965

5. Expenditure on raising funds

		Unrestricted	Total	Total
		funds	funds	funds
		2022	2022	2021
		£	£	£
Cost	ofgoods sold	3,212	3,212	4,660
Total	2021	4,660	4,660

----- Start of picture text -----
|
----- End of picture text -----

Page 14

THE DELTIC PRESERVATION SOCIETY LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

6. Analysis of expenditure by activities

		Activities
		undertaken		Total	Total
		directly	Support costs	funds	funds
		2022	2022	2022	2021
		£	£	£	£
	Charitable expenditure	109,048	10,314	119,362	63,757
	Total 2021	54,363	9,394	63,757
	Analysis ofsupport costs
				Total	Total
			Activities	funds	funds
			2022	2022	2021
			£	£	£
	Governance costs (note 7)		10,314	10,314	9,394
	Total 2021		9,394	9,394
7.	Governance costs
				2022	2021
				£	£
	Independent examiner's fee			1,835	1,669
	Insurance			7,927	7,710
	Management ofthe charity			552	15
				10,314	9,394

8. Independent examiner's remuneration

The independent examiners remuneration amounts to £1,835 (2021: £1,669).

Page 15

THE DELTIC PRESERVATION SOCIETY LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

9. Staff costs

The company has no employees other than Trustees, who did not receive any remuneration (2021: fnil).

No employee received remuneration amounting to more than £60,000 in either year.

10. ‘Tangible fixed assets

	Long-term	Heritage assets/
	leasehold	plantand	Fixtures and
	property	machinery	fittings	Total
	£	£	£	£
Cost or valuation
At 1 October 2021	226,824	1,043,663	4,037	1,274,524
Additions	-	2,503	2,101	4,604
At 30September2022	226,824	1,046,166	6,138	1,279,128
Net book value
At 30September 2022	226,824	1,046,166	6,138	1,279,128
At30September2021	226,824	1,043,663	4,037	1,274,524

Included in fixed assets there are three locomotives, which are deemed to be heritage assets. As the assets are used in the operations of the charity, they are accounted for as tangible fixed assets.

The trustees revalued the assets within plant and machinery. In 2021 the three locomotives and the eleven engines, previously held at their cost, have been revalued based on the trustees' experience of a reasonable market selling price.

The carrying amount under the cost model of the assets which have been revalued would have been £210,311 (2021 - £207,808).

Page 16

THE DELTIC PRESERVATION SOCIETY LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

11. ‘Fixed asset investments

			Investments	in
			subsidiary		Unlisted
			companies		investments	Total
				£	£	£
	Costor valuation
	At 1 October 2021		1,000		16,000	17,000
	At 30September 2022		1,000		16,000	17,000
	Netbook value
	At 30 September 2022		1,000		16,000	17,000
	At 30 September 2021		1,000		16,000	17,000
	Principal subsidiaries
	The following was a subsidiary undertaking	ofthe company:
	Name				Company	Holding
					number
	DPS Commercial Services Limited				04611162	100%
	The financial results ofthe subsidiary for the year were:
	Name	Income	Expenditure		Share capital	Profit
		£	£		and reserves	£
					£
	DPS Commercial Services Limited	152,328	(102,705)		50,758	49,623
12.	Stocks
					2022	2021
					£	£
	Stocks				18,320	18,320

Page 17

THE DELTIC PRESERVATION SOCIETY LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

13. Debtors

		2022	2021
		£	£
	Trade debtors	864	-
	Amounts owed bygroup undertakings	17,429	29,511
	Other debtors	14,467	1,850
	Prepayments and accrued income	7,927	8,230
		40,687	39,591
14.	Creditors: Amounts falling due within one year
		2022	2021
		£	ve
	Accruals	1,835	4,027

Page 18

THE DELTIC PRESERVATION SOCIETY LIMITED

(A company limited by guarantee)

eee!

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

15. Statement of funds

Statement of funds - current year

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |Balance|at|30| |Balance|at|1|Transfers|Gains/|September| |October 2021|Income|Expenditure|in/out|(Losses)|2022| |£|£|£|£|£|£| |Unrestricted| |funds| |Designatedfunds| |Income|shortfall| |contingency|40,000|-|-|-|-|40,000| |General|funds| |General|Funds|669,494|101,869|(60,872)|-|-|710,491| |Revaluation| |reserve|835,855|-|-|-|-|835,855| |Revaluation| |reserve|-|-|-|-|-|-| |1,505,349|101,869|(60,872)|-|-|1,546,346| |Total|Unrestricted| |runes|1,545,349|101,869|(60,872)|.|5|1,586,346| |Restricted|funds| |Insurance|claim|77,616|-|(61,702)|-|-|15,914| |Museum|legacy|40,000|-|-|:|-|-|40,000| |117,616|-|(61,702)|-|-|55,914| |Total offunds|1,662,965|101,869|(122,574)|-|-|1,642,260|

----- End of picture text -----

Page 19

THE DELTIC PRESERVATION SOCIETY LIMITED

(A company limited by guarantee)

eee

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

15. Statement of funds (continued)

Statement of funds - prior year

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |Balance|at|Balance|at| |1|October|Transfers|Gains/|30 September| |2020|Income|Expenditure|in/out|(Losses)|2021| |£|£|£|£|£|£| |Unrestricted| |funds| |Designated funds| |Income|shortfall| |contingency|40,000|-|*|-|-|40,000| |General|funds| |General|Funds|570,151|86,960|(17,617)|30,000|-|669,494| |Revaluation| |reserve|-|-|-|-|-|-| |Revaluation| |reserve|-|-|-|-|835,855|835,855| |570,151|86,960|(17,617)|30,000|835,855|1,505,349| |Total|Unrestricted| |funds|610,151|86,960|(17,617)|30,000|835,855|1,545,349| |Restricted|funds| |Insurance|claim|148,416|-|(40,800)|(30,000)|-|77,616| |Museum|legacy|50,000|-|(10,000)|-|-|40,000| |198,416|-|(50,800)|(30,000)|-|117,616| |Total of funds|808,567|86,960|(68,417)|-|835,855|1,662,965|

----- End of picture text -----

Page 20

THE DELTIC PRESERVATION SOCIETY LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

15. Statement of funds (continued)

Restricted funds:

Insurance claim - monies received for the repairs to the D9009 Alycidon following mechanical faults.

Museum legacy - funds received for the development of a museum.

Designated funds:

Income Shortfall Contingency - funds designated by the Trustees to cover any unforeseen issues during the next 24 months.

Transfers:

A transfer was made from restricted funds to general funds in 2022 for the updated assessment of remaining repairs work funded by the insurance claim.

16. Summary of funds

Summary of funds - current year

							Balance at 30
				Balance at 1			September
				October2021	Income	Expenditure	2022
				£	£	£	£
Designated funds				40,000	-	-	40,000
General funds				1,505,349	101,869	(60,872)	1,546,346
Restricted funds				117,616	-	(61,702)	55,914
				1,662,965	101,869	(122,574)	1,642,260
Summary offunds - prioryear
	Balance	at					Balance at
	1 October				Transfers	Gains/	30September
	2020		Income	Expenditure	in/out	(Losses)	2021
		£	£	£	£	£	£
Designated funds	40,000		-	-	-	-	40,000
General funds	570,151		86,960	(17,617)	30,000	835,855	1,505,349
Restricted funds	198,416		-	(50,800)	(30,000)	-	117,616
	808,567		86,960	(68,417)	-	835,855	1,662,965

Page 21

THE DELTIC PRESERVATION SOCIETY LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

17. Analysis of net assets between funds

Analysis of net assets between funds - current year

	Unrestricted	Restricted	Total
	funds	funds	funds
	2022	2022	2022
	£	£	£
Tangible fixed assets	1,243,118	36,010	1,279,128
Fixed asset investments	17,000	-	17,000
Current assets	328,063	19,904	347,967
Creditors due within one year	(1,835)	-	(1,835)
Total	1,586,346	55,914	1,642,260

Analysis of net assets between funds- prior year

	Unrestricted	Restricted	Total
	funds	funds	funds
	2021	2021	2021
	£	E	£
Tangible fixed assets	1,238,514	36,010	1,274,524
Fixed asset investments	17,000	-	17,000
Current assets	293,862	81,606	375,468
Creditors due within oneyear	(4,027)	-	(4,027)
Total	1,545,349	117,616	1,662,965

18. | Members' liability

Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £1 for the debts and liabilities contracted before he/she ceases to be a member.

19. Transactions with Trustees

No expenses were paid to Trustees or persons connected with them.

Page 22

THE DELTIC PRESERVATION SOCIETY LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

20. Related party transactions

DPS Commercial Services Limited is a wholly owned subsidiary of The Deltic Preservation Society.

At the year end, a balance of £17,429 (2021: £29,511) remains owed to the charity from DPS Commercial Services Limited and is included within debtors.

A gift aid donation of £21,246 (2021: £29,428) was received in the year from DPS Commercial Services Limited.

Page 23