REGISTERED COMPANY NUMBER: 04785581 (England and Wales) REGISTERED CHARITY NUMBER: 1100537 6880 BEThON GRANGE (SOCIETY) LIMITED UNAUDITED FINANCIAL sfATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
6880 BETTON GRANGE (SOCIETY) UMITED CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Page Report of the Trustees I to 3 Xndependent Examlner's Report statement of Financial Activltles Statement of Flnancial Posltlon 6 to 7 Notes to the Financial Statements 8 to 16
6880 BErroN GRANGE (SOCIETY) UMITED (REGISTERED NUMBER: 04785581) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024 The trustees who are also directors of the charlty for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practlce applicable to charities preparing their accounts in accordance with the Flnancial Reporting Standard applicable In the UK and Republlc of Ireland {FRS 102) (effective l January 20191. OBJECTIVES AND ACTIVITIES Objectives and aims To construct, operate and exhibit for public benefit and educational and Instructional purposes locomotives of historic or scientific importance. While many of the other Great Western classes survived into preservation, from a Class of 80 locomotives no 'Granges' survived the cutters torch. The 6880 Society was formed wlth the sole intention of recreating a Great Western 'Grange' class locomotive, which now completed becomes the 81st 'Grange' Significant activities On the 27th of April Betton Grange pulled carriages for the very first tlme. On board were some of the 120 members and guests who attended the official launch of 6880 Betton Grange at the Tyseley locomotive works on a wet and gloomy Saturday in Birmingham. That had followed an eartier test steaming witnessed by a handful of society directors and working members as our chalrman Quentln McGuinness proudly opened the regulator for the very first time on Thursday the I Ith of April. ACHIEVEMENT AND PERFORMANCE Charitable artlvltles Entry into revenue earning trafffic started at the Gloucestershire Warwickshire Steam Railway and took place in time for their Cotswold Festival of Steam Gala, and it was a proud moment for the directors and those members present to see 6880 pull its first revenue earning traln out of Toddington on Friday the 25th of May. Following the spell in the Cotswolds, Betton Grange moved onto the West Somerset Railway for a month in the 5umrner followed by an extended stay at the North Norfolk Railway. Fundraising a¢tlvlties There are many ways we try to raise funds apart from mernbership fees that are paid on a monthly basis by a number of people. Betton Grange have a sales stand that sells various branded goods, this stand goes to a number of events throughout the year. We also sell items via our webslte. Another way of raising funds is via our eBay page where we sell items that have been donated to us. Easy Fundraising is another way that we raise funds along with having a TETh Donate appeal on an ad hoc basis. A number of new fund raising Inbtiatives are now being launched to help with much needed cash reserves to enable the work to start on the building of a new tender suitable to operate long term with Betton Grange. FINANCIAL REVIEW Financial posltlon We are sure that all rnembers and supporters are delighted by the news that Betton Is at last in steam but there is still some way to go, as to get ehe locomotive complete has taken us significantly over budget and interest free loans had to be secured to see the work "over the Ilne" With the boiler ticket already running from last year, we had no choice other than to complete the work, as to put everything on holij whllst further funds were raised could have set us back at least a year or more. The locomotive will now start earning steaming fees as it goes out on hire to various railways this year, but this alone will not be enough to repay the loans and pay for ongoing maintenance, 50 we need to contlnue our fundraising efforts to maximise our income over the coming years. Page I
6880 BErroN GRANGE (SOCIETY) LIMITED (REGISTERED NUMBER: 04785581) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024 FINANCIAL REVIEW Principal funding sources The principal fund raising sources are,. Membership fees Donations Sales events Locomotive hire Reserves policy The trustees have no formal reserves policy but aim to maintain sufficient funds that allow a certain amount of financial security, but also to take advantage of opportunities to acquire spares and parts as they becorne available. FUTURE PLANS Attention will now turn to the building of our own tender for the locomotive. The Foxcote Manor Society have kindly allowed us to hire their tender whilst their locomotive is undergoing a full comprehensive 10 year overall. We have to raise the money to complete our own Collett 3,500 gallon tender as soon as possible and with a new tank required and the chassis to be built up from old components, which will need complete refurbishrnent, this is likely to cost us as much as £200,000. Construction will continue at Tyseley locomotlve Works which remains our engineering base, we have many of the parts needed but inevitably a number of new parts will be required, as well as parts that need professional input for restoration. We are pleased to be able to tell you that 6880 will travel from Norfolk to the Battlefield line in Leicestershire to provlde steam power for Christmas, but beyond that, dlscussion5 are still taking place with a number of railways for locomotive hire in 2025. Contracts have been exchanged following a recent meeting between the Gloucestershire Warwickshire Steam Railway (GWSR) and the 6880 Betton Grange Society, for the newly-built Great Western Railway-designed 'Grange' class 4-6-0 to be based on the Cotswold railway, for the foreseeable future. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The 6880 Betton Grange (Society) Limited is a charity established and governed by Memorandum and Articles of Association dated 3rd June 2003 Recruitment and appointrnent of new trustees The appointment of new trustees are in accordance wlth the provislons held withln the Company Memorandum and Articles of Association. Related parties 5199 PROJECT.. Mernbers of thls associated locomotive project formed the nucleus of the team that created The Betton Grange Society. There is a shared use of eqtjipment owned by both Projects and some mutually acceptable swopping of certain components for practical reasons. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 04785581 (England and Wales) Registered Charlty number 1100537 Registered office 43 45 Devizes Road Swindon Wiltshire SNI 48G Page 2
6880 BEThON GRANGE (SOCIETY) LIMITED (REGISTERED NUMBER: 04785581) REPORT OF THE TRUSTEES FOR THE YEAR ENDeD 30 JUNE 2024 Trustees Mr Q D McGuinness (resigned 28.7.24) Mr D E Huntbatch Mr P A Appleton Mr R J Cadge Mrs E McGuSnness (resigned 28.7.24) Mrc J Moore Mrs L M Moore Company Secretary Mr I Sumbler FCCA Independent Examiner Mr S Nuttall FCA McGills Chartered Accountants Oakley House Tetbury Road Cirencester Gloucestershire GL7 IUS STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustees (who are also the directors of 6880 Betton Grange (Society) Limited for the purposes of company law) are responsible for preparlng the Report of the Trustees and the finanaal statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 'The Fbnancial Reporting Standard applicable in the UK and Republlc of Ireland. Company law requires the trustees to prepare financial statements for each flnancial year which give a true and fair view of the state 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 trustees are required to select suitsble accounting policies and then apply them conslstentlyi observe the methods and principles in the Charity SORP; make Judgements and estlmates that are reasonable and prudent; prepare the financial statements on the going concern basis unless it is inappropriate to pSurne that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records which dlsclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Cornpanies 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 frauit and other irregularitie5. This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by order of the board of trustees on 6 January 2025 and signed on its behalf by: Mr R J Cadge - Trustee Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF 6880 8EThON GRANGE (SOCIETY) LIMITED Independent examiner's report to the trustees of 6880 Betton Grange (Society) Limited ('the Company,) I report to the charity trustees on my exaii)iiiation of the accounts of the Company for the year ended 30 June 2024. Responsibilities and basis of report As the charity's trustees of the Company land also its direttors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 I'the 2006 Act'}. Having sat15fied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Att and are ellgible for independent examination, I report in respect Df my examination of your charlty's accounts as carried out under Section 145 of the Charltles Att 2011 {'the 2011 Act'l. In carrying out my examination I have followed the Direcdon5 given by the Charity Commission under Sectlon 14515) Ib) of the 2011 Act. Independent examlner's statement I have completed my examination. I confirm that no matters have come to my attention in connection wlth the examination giving me cause to believe.. accounting records were not kept in respect of the Cornpany as required by Sectlon 386 of the 2006 Act; or the accounts do not accord with those records,. or the accounts do not comply with the accounting requirements of Sectlon 396 of the 2006 Act other than any requirement that the accounts give a true and fair view whlch is not a matter considered as part of an independent examlnation. or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Prartice for accounting and reporting by charltles (applicable to charities preparing their accounts in accordance with the Financial Reportlng Standard applicable In the UK and Republic of Ireland (FRS 1021). I have no concerns and have come across no other matters in connection with the examlnation to which attention should be drawn in this report In order to enable a proper understandlng of the accounts to be reached. Mr S Nuttall FCA McGills Chartered Accountants Oakley House Tetbury Road Cirencester Gloucestershire GL7 IUS Date: /4.2.£J Page 4
6880 BE0 GRANGE (SOCIETY) LIMITED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 JUNE 2024 2024 Unrestricted funds 2023 Total funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 60,753 63,676 Charitable artivities Tender appeal Locomotive fees 14,465 5,100 3,310 Other trading activities 2,516 1,755 Total 82,834 68,741 EXPENDITURE ON Raising funds 2,262 850 Charitable activities Administrative costs Locomotive operating costs 3,402 35,712 5,720 7,033 Total 41,376 13,603 NET INCOME 41,458 55,138 RECONCILIATION OF FUNDS Total funds brought forward 1,139,365 1,084,227 TOTAL FUNDS CARRIED FORWARD 1,180,823 1,139,365 The notes form part of these financial ststements Page 5
6880 BErroN GRANGE (SOCIETY) LIMITED (REGISTERED NUMBER: 04785581) STATEMENT OF FINANCIAL P0SION 30 JUNE 2024 2024 Unrestricted funds 2023 Total funds Notes FIXED ASSETS Intangible assets Tangible assets Heritage assets 340 807 1,363.296 340 1,077 1,125,864 12 13 1,364,443 1.127,281 CURRENT ASSETS stocks Debtors Cash at bank and in hand 14 15 2,000 13,620 4,620 850 17,640 51,564 20,240 70,054 CREDITORS Arnounts falling due within one year 16 (183,860) {57,970) NET CURRENT ASSETS (163,620) 12,084 TOTAL ASSETS LESS CURRENT LIABILITIES 1,200,823 1, 139,365 CREDITORS Amounts falling due after MO than one year 17 (20,000) NET ASSETS 1,180,823 1, 139,365 FUNDS Unrestricted funds 19 1,180,823 1,139,365 TOTAL FUNDS 1,180,823 1,139,365 The charitable company Is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024. The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Art 2006. The trustees acknowledge their responslbillties for (al ensuring that the charitable company keeps accountlng records that comply with Sections 386 and 387 of the Companies Att 2006 and preparing financial statements which give a true and faTr view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sectlons 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 lating to flnancial statements, so Far as applicable to the charitable company. (bl The notes fonm part of these financial staternents Page 6 continued...
6880 BETTON GRANGE (SOCIETY) LIMITED (REGISTERED NUMBER: 04785581) STATEMENT OF FINANCIAL POSThION - continued 30 JUNE 2024 These financial statements have been prepad in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 6 January 2025 and were signed on Its behalf by: Mr R J Cadge - Trustee The notes form part of these flnanclal statements Page 7
6880 BrON GRANGE (SOCIETY) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 CHARITY INFORMATION The company is a company limited by guarantee and incorporated in England and Wale5, and a registered charity with the Charity Commission in England and Wales, The registered Offi address is 43 -45 Devizes Road, Swindon, wiltshire SNI 4BG These financial statements are presenteé in British Pounds (GBP), whlch is the charity's functional and presentational currency. ACCOUNTING POLICIES Basis of proparlng the financial statements The financial statement5 of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities.. Ststernent of Fiecommended Prartice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective l January 20151,, FInancal Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. Financial reportlng standard 102- reduced disclosure exemptions The charity has taken exemption from preparing a cash flow statement under the charities SORP {FRS 102} Update Bulletin l issued on 2 February 2016, as the charity constitutes a small charity. Incorne All income Is recognised in the Statement of Financial Activities once the charity has entidernent to the fund5, It Is probable that the income will be recelved and the amount can be rneasud 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 beneflts will be required in settlement and the arnount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classlfied under headings that aggregate all cost lated to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activlties on a basis consistent with the use of resources. Intangible asset During 2018 the Charity created a 6880 trademark to help protect the brand image in use and in 2021 a second trademark was registered to further strengthen the brand irnage. In view of the relatively small costs involved, and longevity of the trademarks, no amortisation Is being applied on the basis it would be immaterial to the accounts as a whole. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estlmated useful life. Marquee & Container Equipment 250/0 on reduclng balance 25Wo on reduclng balance Herltsge assets The Heritage assets are ststed at historlcal cost, together with the accumulated costs of storation to working order as incurred. Due to the 5peclal nature of the assets, it is considered impractical to adopt a policy of revaluation. The trustees consider the assets each year in temis of impaimient. Should any impairment arise this will be charged to the statement of financial activities in the year in which it occurs. Generally the trustees believe that assets appreciate In value and therefore no policy of depreciation 15 applied in order to show a true and fair view. Page 8 continued...
6880 BEoN GRANGE (SOCIETY) LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024 ACCOUNTING POLICIES- continued Heritage assets The boiler is being treated as a component asset within the overall constructlon of the locomotive and is subject to depreciation at IOLTrh straight line, starting at the point the 10 year boiler certSfScate was Issued in April 2023. stocks Stock5 are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Taxation The charity Is exempt from corporation tax on Its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted PLFrposes. Further explanation of the nature and purpose of each ftjnd Is included in the notes to the financial statements. DONATIONS AND LEGACIES 2024 2023 Donations Gift aid Members subscriptions 21,482 25,128 14,143 33,539 16,333 13,804 60,753 63,676 OTHER TRADING ACTIVITIES 2024 2023 Sales Other income 2,516 1,682 73 2,516 1,755 Page 9 continued...
6880 BErroN GRANGE (SOCIETY) LIMITED NOTES TO THE FXNANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024 INCOME FROM CHARITABLE ACTIVITIES 2024 2023 Activity Tender appeal Locomotive fees Tender appeal Locomotive fees 14,465 5,100 3,310 19,565 3,310 CHARITABLE ACTIVITIES COSTS Direct Costs {see note 71 Support costs Tota15 Administrative costs Locomotive operating costs 3,402 3,402 35,712 35,712 35,712 3,402 39,114 DIRECT cosrs OF CHARITABLE ArnVITIES 2024 2023 Hire of tender Repairs and renewals Event and membership costs Depreciation 6,450 1,130 807 293 7,033 28,132 35.712 8,133 NET INCOME/(EXPENDITURE) Net incomellexpenditure) is stated after charglng/{crediting)'. 2024 2023 Depreciation owned assets Depreciation - Betton Grange boiler 270 28,132 360 7,033 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 30 June 2024 nor for the year ended 30 June 2023. Trustees, expenses There were no trustees, expenses paid for the year ended 30 June 2024 nor for the year ended 30 June 2023. Page 10 continued...
6880 BEThON GRANGE (SOCIETY) LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcfIvITIES Unrestricted funds INCOME AND ENDOWMENTS FROM Donations and legacies 63,676 Charitable actlvities Tender appeal 3,310 Other trading activities 1,755 Total 68,741 EXPENDITURE ON Raising funds 850 Charitable activities Administrative costs Locornotive operating costs 5,720 7,033 Total 13,603 NET INCOME 55.138 RECONCILIATION OF FUNDS Total funds brought forward 1,084,227 TOTAL FUNDS CARRIED FORWARD 1,139,365 11. INTANGIBLE FIXED ASSErs Trademark COST At l July 2023 and 30 June 2024 340 BOOK VALUE At 30 June 2024 340 At 30 June 2023 340 Page 11 continued...
6880 8EThON GFiANGE (SOCIETY) LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024 12. TANGIBLE FIXED ASSErs Marquee & Container Equipment Totals cosr At l July 2023 and 30 June 2024 8,722 14,666 23,388 DEPRECIATION At l July 2023 Charge for year 8,150 143 14,161 127 22,311 270 At 30 June 2024 8,293 14,288 22.581 NET BOOK VALUE At 30 June 2024 429 378 807 At 30 June 2023 572 505 1,077 13. HERITAGE ASSETS Total MARKET VALUE At l July 2023 Addition5 1,132,897 265,564 At 30 June 2024 1,398,461 PROVISIONS At l July 2023 Charge for year 7,033 28,132 At 30 June 2024 35,165 NET BOOK VALUE At 30 June 2024 1,363,296 At 30 June 2023 1,125,864 Heritage assets comprise Betton Grange (now operationall, plus £40,000 the society paid in February 2010 for the unrestored locomotlve 5952 Cogan Hall. The front bogie of Cogan Hall h35 been removed to assist in the construction of 6880 Betton Grange. The 6880 Society have promised that Cogan Hall will be restored in her own right and their long-term aim is to have both 6880 and 5952 working together The boiler was klndly donated to 6880 by the Vale of Glamorgan Council from their unrestored locomotive 7927 Willington Hall. 6880 carried the Barry Shedplate code 88C as a cOgnItion of this valuable donation when unveiled to the members in Aprll. Page 12 continued...
6880 BEThON GRANGE (SOCIETY) LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNe 2024 14. STOCKS 2024 2023 Stocks 2,000 850 15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debtors Other debtors VAT 6,120 7,500 12,500 5,140 13,620 17,640 16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other loans {see note 181 Trade creditors VAT Accrued expenses 140,000 43,578 57 225 20,000 37,745 225 183,860 57,970 17. CREDITORS: AMOVNTS FALLING DUE AFTER MORE THAN ONE YEAR 2024 2023 Other loans {see note 18) 20,000 18. LOANS An analysls of the maturity of loans is given below.. 2024 2023 Amounts falling due within one year on demand.. Other loans Trustee loans Relate¢J party loan 40,000 70,000 30,000 20,000 140,000 20,000 Amounts falllng between one and two years.. Related party loan 20,000 A rnember of the Society kindly provided a number of years ago an interest free loan of £20,000 to help with the funding of the Boiler refurbishment. Further funds have been sought this year to help with the completion of the locomotive. The trustees felt this was an important step to take as the boiler certificate was "ticking" and any more time lost completing the build would be detrimental to the project as a whole. member kindly provided £20,000 to be used for this, the trustees provided £70,000 of their own monies to help. a formal loan was drawn up between the Society and 5199 Project whlch has repayment tems over 20 months starting in August 2024. Page 13 continued...
6880 BErroN GRANGE (SOCIEfY) LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024 19. MOVEMENT IN FUNDS Net movement in funds Transfers between funds At 30.6.24 At 1.7.23 Unrestricted funds General fund Boller appeal Tender appeal 860,128 254,287 24,950 55,125 (28,132) 14,465 35,604 950,857 226,155 3,811 (35,604) 1,139,365 41,458 1,180,823 TOTAL FLINDS 1,139,365 41,458 1,180,823 Net movement in funds, Included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund Boiler appeal Tender appeal 68,369 (13,244) (28,132} 55,125 (28,132) 14,465 14,465 82,834 (41,376) 41,458 TOTAL FUNDS 82,834 (41,376) 41,458 Comparatives for movement in funds Net movement in funds At 30.6.23 At 1.7.22 Unrestricted funds Genernl fund Boiler appeal Tender appeal 801,267 261,320 21,640 58,861 17,033) 3,310 860,128 254,287 24,950 1,084,227 55,138 1,139,365 TOTAL FUNDS 1,084,227 55,138 1, 139,365 Comparative net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund Boiler appeal Tender appeal 65,431 {6,570) {7,033) 58,861 {7,033) 3,310 3,310 68,741 (13,6031 55,138 TOTAL FUNDS 68,741 113,603) 55,138 Page 14 contlnued...
6880 BETTON GRANGE (50CIETY) LIMITED NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 30 JUNE 2024 19. MOVEMENT IN FUNDS- contlnued A current year 12 months and prior year 12 months combined position Ss as follows: Net movement in funds Transfers between funds At 30.6.24 At 1.7.22 Unrestricted funds General fund Boiler appeal Tender appeal 801,267 261,320 21,640 113,986 {35,165) 17,775 35,604 950,857 226,155 3,811 {35,604) 1,084,227 96,596 1,180,823 TOTAL FUNDS 1,084,227 96,596 1, 180,823 A current year 12 rnonths and prior year 12 months comblned net movement in funds, included in the above are as follows: Incoming resources Resources expended Movernent in funds Unrestrlcted funds General fund Boiler appeal Tender appeal 133,800 119,8141 {35,1651 113,986 135,165) 17,775 17,775 151,575 (54,979) 96,596 TOTAL FUNDS 151,575 154,979) 96,596 Transfers between fund$ The trustees chose to utllise funds that had been collected with the purpose of supporting the Tender appeal, to help with the financing tsf the locomotive cornpletion. This equated to an amount 'borrowed" from this fund of £35,604 and is shown above. 20. RELATED PARTY DISCLOSURES 5199 PROJECT.. Members of this associated locomotive project formed the nucleus of the team that created The Betton Grange Society. There Is a shared use of equipment owned by both Projects and some mutually a¢ptable swopping of certain components for practical reasons. A loan from the 5199 Projett was glven to the Society to help support the completion costs of the engine bulld. Formal documentatlon was drawn up and the loan will be repaid over the course of the next 20 months as disclosed in note 18 to these accounts. Page 15 continued...
6880 BETfoN GRANGE ISOCIEfY) LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024 21. ULTIMATE CONTROLLING PARTY There is no one ultlmate controlling party. Control of the charitable company lies with the trustees. 22. MEMBERS GUARANTEE The company is limited by the guarantee of the mernbers. The liability of the members is limited to £10 on the winding up of the company. Page 16