REGISTERED COMPANY NUMBER: 05257082 {England and Wales) REGISTERED CHARITY NUMBER: 1106810 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR ECCLESBOURNE VALLEY RAILWAY ASSOCIATION Johnson Tidsall Limited Chartered Accountants 818urton Road Derby Derbyshire DE11TJ ECCLESBOURNE VALLEY RAILWAY ASSOCIATION CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Page Rèport of Ihe Tru8tse8 Ind•pend8nt Examlnef'8 Rèport 8tat•m•nt of Flnanclal A¢llvltl•8 Balance She•t 9 10 10 Note8 to the Flnanclal Statements 11 to 21 ECCLESBOURNE VALLEY RAILWAY ASSOCIATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The trustees who are also directors of th8 charity for the purposes of the Companles Act 2006, present their report with lh8 financial statements of Ihe charity for the year ended 31 March 2024. The truste8s havé adopted the provisions of Accounting and Reportlng by Charlties" Stalement of Recommended Practice applicable lo charities preparing their accounts in accordance with Ihe Flnanc•g1 Reporting Standard appllcable In the UK and Republlc of Ireland {FRS 102) (effe¢live 1 January 2019). OBJECTIVES AND ACTIVITIES Obi•ctive8 and alm8 The purp058 of th8 Eccl6sbourne Valley Railway Association 18 to be a PTofe8sional charitable organisatlors. adding historical value lo the krK)wledge of the general public about the Ecclesbourne Valley Railway and the h8ritage of the railway in general. in a manner which is bolh educalion81 and fun foT the members of the Assoclation and lh8 general public. The main objectives of Ihe Association are to restore, renovate. preseNe and maintaln artefacts and olher herilage features connected wilh the Erxle8bourne Valley Railway and to restore. ienovate, preserve, maintain and operate the railway belween Duffield and Ravenstof Stations. as a working heritage iailway. for the enjoyment of Ihe general public, pioviding both educalional and entertainmenl activilles in a profes81￿al manner and safe environmenl. The Association conlinues to support specific proJ8ds undertaken ty VfyvernRail plc (WR), which in the Trustees. opinion are in line with the Association's chanlable aclivits'8S. The Association is a charitable membership organisat￿n formed as a company limited by guaranlee and is governed by its Memorandum and Articles ol As$o¢ialion. Each principal member of the Associalion 1$, therefore, a member of tha Company and has a nght to attend and vote at the company general meetings. Members support the Association by volunteerin9 their services free, by paying an annual subscription and by making donations. Thi8 year has been one where the A880ciatson has been very aclive and during which relationship with WR has been re-inmgorated, with regular iolnt meetings befvieen the Iwo Boards. An agreed PTO1￿1 Ilsl now provides Ihe backdrop to future deCiS￿nS and funding. Publlc ben•flt The charity has referred to the guidance contained in the Charity Commission's general guidance on public benefit vth8n reviewing its aims and obleclive8 and In plannlng Its futu￿ acllvlts'es. In parttular, the Iw8tee8 always consider how planned activitle8 will contribute to its aims and objectives. ACHIEveMeNT AND PERFORMAMCE Overvlew The Assoclatlon has supported the rallway In varlous ways, some of vthich are delalled balow, but also including a new container for the Vegetation Cleafance Team, new tyres for the MH5 for the P-way team, gas cages lo meet new regulations and the new training room, adding up in lolal lo a sum of around £1 $7K. Plu8 upgrading the Minlalure and narrow-gauge railways for visitor8, inlerpretalion signs and more. Page 1 ECCLESBOURNE VALLEY RAILWAY ASSOCIATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 ACHIEVEMENT AND PERFORMANCE Charltsblo actlvlt108 A8h Plt: The existing ash pit was inadequate for the size and number of sleam engines being used (￿ the EVR. EVRA agreed to build a new larger pit adjacent lo th8 incline, which would tak8 Iwo steam 8ngine8 al once, back-tovback. The design is based on a BR deslgn supplled by WR. In order to fa¢ilitale this project and the ultlmate new steam facility. EVRA relo¢atsd Ihe fuel bund, wh'ch would have been compromised. Wlrk$worth Statlon Bulldlng and new steam shed.. Structural drawings were profe$sionally produced for these. No further work was possible on eithei of the fyyo project8 in the year. EVRA Shop and Museum: The total gross sales were £38.386 {shop. e-Bay, outside shows etc). but without a Bric a Brac sale and by nol attending shows wilh a stall this was down £1348 on 2022-2023.Based on the prevlous year, Ihe Iwo shows and the Bric a Brac would hava raised £2,500, $0 the overall trend is still upward. Again, donated goods formed around 50% of the taking8 and are pure profil. Donatbons of books and all the other ilems remained high and there was oflen a backlog to be dealt with. The Trustees are grateful to all the volunteers, who volunteer regularly lo man Ihe till, bul also are key to the numerous othor tasks involved in raising thi$ critical income. These efforts reap Ihe reward of cuslomers, compliments about Ihe shop and the way Ihe stock is organised. Rallway coaches: Wa continue lo focus our efft>rts on the 3 servicaable coaches & our long tern rebuild of Tourist Second Open <4882). CK 15849 (A) The CK spent 88veral months out of seniice during the latter half of 2023 receivlng a long overdue bogie ovethaul & Wheel reprofiling. This entailed a full strip down of the bogies, brake rigging rebushing, Cleaning and inspection of componenls & wheel tlats have been tumed out. SK 24918 (B) The SK conlinues to be used 1st or 2nd rake when capacity Is requlrefl, no malor defecls have arlsen since Our lasl annual review. However, when the TSO 4682 is complete, this coach will reGeive some attentlon a$ It 18 81artlng to Iwk lired. 8SK 35006 (D) The BSK Is curr8nlly the de81gnated brake vehicle in the second rake, seeing s8r¥ice ai gala V￿akendS and 40-train iunning days throughout Ihe year. The coach is currently nol steam heat fitted whl¢h reduces Its use through the winter month$. howev6r we do have m051 of the componen15 in stock. Volunteer18vels unfortunately mean we can only wo on one project al a time. TSO 4682 Sleady progres8 ¢onllnue8 on Ihe coach wllh most of the efforts Ihis annual year focused on the north half of the coach. doors overhauled last year have been fitted, bulkheads and partlllon8 have been refurbished, Celli￿S repaired. painted & general rebuilding of the interior paneling Updales on the progress of the TSO are regulaity posted t>n Ihe Frlend8 of Ecclesbourno Valley Rabtway Facebook group. Steam Dopt.. After last yearfs Xmas dinner. al whlch we guested our recently retiied CME 8ob Gibbens and his good lady wife Maeve, a new regime has moved into plac8. Simon Scott, as everyone knows, has moved up io bg the Railway's General Manager, whlch mean8 that John Cook is now the Chief Mechanical Engineer, wlth Dave Wlliams Continuing as Running Foreman for the sleam Depl. The recently fomied Steam Commlttee has inilialed a proper regime lor the progression of steam members from new recruits bec¢)mlng cleaners Ihrough to firemen then diivers. Or as one of our members put il 'cSimbing the slairway to heaven,. Overall, it seems to be wothln9 well Over Ihe year the steam dept h88 gr￿￿U011Y been moving from our old position on the Museum siding wlth Its wholty in8dequate small shed and shallow ￿1. to the larger maintenance shed which wiers the W81er Crane Rd. The Plt Rd and Taylo¢s Rd a$ shown on tha yard diagram. At present we are uslng the much bigger pil on the aptly named Pit Rd which more suits our needs considering the much larger engines that have graced our rails over the last year. However, the railway has just finished building an even larger pit on Ihe Waler Crane Rd which will becom8 the dedi￿ted pil for the steam locos, with the line from there Into Ihe Maintenance shed being used in future lo house the steam loco fleet and any vlsiling locomotives. To Ihis end have acquired Lee Sharp's container adj8cent to our new position and Bob Gibben8'8 conlainer next to the Pit Rd which will become the new workshops for the steam team. On the locomotive front Standard 4 Tank 80080 was the main steam englne in use befv4een Wirksworth and Duffield until the start of 2024, when Duke was finally rolled out. The leam has manned a high number of services and evening events and both EVRA and WR are graleful lo Ihose trained for roles on the steam engines on our mainline and to those in training for dedication in keeping Ihe ￿￿eduled seryices wnning. Page 2 ECCLESBOURNE VALLEY RAILWAY ASSOCIATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 ACHIEVEMENT AND PERFORMANCE Hudsw811 Clarke 0-64) Cathryn With the loss of Bob Gibbons, we were pleased to receive an approach from Peak Rail, offering to compkie the restoration and a lease was agreed. Not long afteThvards Calhryn was wothing at Matlock during th8 latter part of 2023, which m8ant thal all three locos for vthid) EVRA is responsible had finally been restor8d. although Henry Ellison ha8 reached the end of its 10 year licket in the year under review. Barclay (k4-0 No 2217 Brian Harrison Suffer￿ a collapse of Its main steam pipe during the year and has been dismantled to faulitate repair of the ￿pe, Std 4 2-64 No 80080 had to be withdrawn early into the season to have its motion dismenlled and sent to Wesl Shed at Butterty in order to have now bushes installed. The loco has recentty been reassembled bul awaits a boiler inspection before it can be reused. Stepplng into the breach has been Tim Oaks. 0-6-0 Hunslett Auslerity 'The Duke. which, since ils return to traffK after its rebuild. has performed admirably on nearty all our steam 8eNices thi8 year. Vl•ltor Attractl¢)n8 at the rallway provlded by EVRA: Mlnlaturn Rallway: Following a p8riod of heavier than usual rain. the MlnIatu￿ Railway track bed recelved con8iderable attention with ballasl and rails being ￿placed wher8 necessary. EVRA purchased Ihe rail and sleepors which also included laying an extended Ilne into the work shed. The two new man-riders were obiained and were repainted into company ¢olours and have perforned regularfy through the year Travel by donallon has been maintained duAng the perlod of expanslon and development, with an increase of 80% in passengers carried. The slorage area has been improved and extended with security irnproved A small increase in the volunteer base has been achieved. Working together with other miniature raI￿aYS partlcularly the High L88 M.R. near Knulsford has benefited from exchange of ideas and increa6ed knowledge by our own Staff. A locomotive rebuild is plannéd to occur during the next reporting period. Mod•l Railway.. The n)odel of Idridgehay has received a care and attention package and is plannad to be part of a future modified exhibit of the "Railways of Derby8hire". Exlemal arKJ Inlernal repalrs to Ihe Exhlblllon Coach have been compleled. Both N and Q gauge exhibits have been prepaied and introduced. Supporting Ihemes and models have also been di8played to support the Mainline activilies with temporary models on display. The modelllng staff have 8160 provlded a small N gauge exhibit Portraying the Railway and Industry of Wirk$worth which is on di$play in Wirksworth Library and has proved popular wlth lo¢al children and visitors. A small increase in volunteers has enabled the exhibit to be open on additional days compared with previous years. EVRA is most grateful lo all those who have donated lo this project and lo those who have worked to produce the exhlblts on dlsplay. Narrow Gaugo Rallway: EVRA has funded a ma￿r reStora￿on project with a nwl Waterfall platfomi, replacement of sleepers and ballast. safety fencing etc with help from voluntears from the P-way team among others. New voltsnteers have como foThvard 8$ driver8 and guards and it h88 run over several weekend days during Bank Holidays, Galas etc. Oth•r mattern Al the end of the year membership stood at 785, 51 less Ihan at the previous year end. Sadly 8 members have died during thls period. We remain grateful to those members who renew upon receipi of Iheir renewal reminders and to those who add a donalion. Flnally, thanks to our small team of dedicated volunteers who come In during Ihe week In all v&?Ihers In order to malntain and prepare the locos for the paying public to enjoy at the weekends. Speclal thank8 go to the followlng: Carol Andr8w$ for taking on the role of minule secretary (now a cfropte8). Joo CaNer for h18 role as mlnute secretary, up until his resignation in June 2023. Nathan Cooke for his work as Membership Secrelary and Websile Manager and for distrlbuting the Express wilh Ihe help of June and Barry Cooke. June Cooke for her role as Glft Aid Cowordinator. Th8 team for another suGce55ful yeaf in the shop. Tony Gough for mastemiinding collecting boxes and recording Gift Aid on all donated goods sold in the shop. David Mellor at Johnson Tidsall for his help with Ihe preparation of the Financial Statements and their work as Independent Examiners. Annemarie Moran at AM Accounts for her work maintaining the day-to-day accounls arKI fIna￿la1 guidance. Thanks go to ALL our volunteers for their conllnulng support in all sorts of ways. Page 3 ECCLESBOURNE VALLEY RAILWAY ASSOCIATION REPORT OF THE TRUSTEES FOR TrIE YEAR ENDED 31 MARCH 2024 FINANCIAL REVIEW Flnancial position The charity had nel expenditure of £27,210. for Ihe year ending 31 March 2024 (2023: nel expenditure £33.584) of which £26.516 (2023.. 33.628) relates to unfestricted funds and net expendlture of £69412023:£44) relates t¢ reslrtcted funds. There was a balance on total funds of £1.119,753 as at 31 Mafch 2024 {2023.. £1,146,963) of which £1,IK)1.570 (2023.. £1,028,088 relates to unrestricted funds and £118.183 (2023.. £118,877) relates to restricted lund8 Prlnclpal fundlng 80urce8 The pnncipal funding sources of thè Association, in relation to regular income, are from donatlons, steaming fees and shop and bar sales. Re8erve8 poIIcy The trustees have r8Vi8wed the unreslricled funds not committed or inv85ted in tangible fixed assets (the fr60 raseprfes) held by the Associalion which equates to £368,(b6 in general funds. This is calculated as total general funds per the balance she8t of £1.001.570. less the unrèstricted balances on tangible fixed assets of £436,256 and heritage fixed assets of £197,248. Fié8 reseNes represent the ￿OrkIng capital, of the charity available to support short and medlum lenyb objectives and to Safeguard again8t unexpected decre88es in incoma, Tha free resepies total of £388,086 includes significant legacy Income received in previous years. The trustees anlicipate thal thls will be utillsed In the short and medlum lerm on projects to develop the buildings and 81ructure8 of the Ecclesboum8 Valley RaiN¥ay which have been put on hold due to the Cov1￿19 pand8mic arKI the issue of obtalnlng a leasing a9reement with Wy¥8m R811 PLC In relallon to Wllrksworth Station buildlng.. Most of the charity's costs are direct with an eslimate 01 £20.000 to be put aside each year for admini8tratK•n and support costs. The tiustees consider that tha chaity's reserves are adequate lo rneel Ihese future levels Ot expenditure. To explaln or two Items from the A¢¢ounts: Donatlon8 and Gift Ald.. we were fortunate to receive two $ub81anllal bequests this year, we are very grateful to Bob Dixon and Dèrek Granlham and their familie$ for the gift$ in Ihair wills of £13.426 and £20.000 respectively. Our condolences go to them and the famllles ol the other members whom we have lost this year. £18,741 Is ￿n￿uded in Ihe donations fvjure. Ihls refers lo the many GoFundMe don8tion$ lo ltr￿ Duffield Landslip Appeal. There will be more of this in Ihe 2024125 accounts. as the appeal continued after the year-end. Most of the expendllure will fall In the next Set of accoun18. Malntonance: A blg increase on layl year. mostly down to an Inltlal contribution to the Duff￿ld land8llp worf( (£22,500 for 'L8go bricks), £12,5￿ for sleepers and £8,000 for ballast and £3,880 for work on the car park at Wirksworth. Glft Ald increased from £3,876 to £7,885 Ihls year. This is a significant contrlbulion to EVRA'S funds and shows the importance of ticking the Gfft Aid box on any donalim. Thanks to June Cooke lor looklng after the administration of this important area. New Tralnlng Room: We received grant funding towards Ihe new Training Room at IAfjrksworth, however, this straddled the year-end. hence large figures in both debtors and creditors on tho balance sheet. The new room is now fully funclional, and we ar8 gr8t8ful to Dèrbyshlre Environmental Trust and the Tarma¢ Landfill Fund for their grant funding. The full statutory accounts, approved by the Trustees on 15th October 2024, are available on requesl as hard copy or via e-mall and will be available at the AGM. Ecclesboume Valley Railway A8s0¢ialion, Wirksworth Statlon, Coldwell Street. Derby8 DE4 4FB Website: ￿.e-v-r-a.coM Reg Charity rK. 1106810 Cornpany limited by guarantee no. 5257082 STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The charity is controlled by its governing d￿ument, a deed ol trusl. and conslitutes a limited company, limited by guarantee. as defined by th8 Companies Act 2006. Page 4 ECCLESBOURNE VALLEY RAILWAY ASSOCIATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Recrultmènt and appolntment of new trusteos Truslees are recruited from persons with the Interest and perceived ability to assisl with Ihe management of Article 36 of the Articles of Associalion which provides that. at every Annual General Meeting. one third of the elected memb8rs of the Board shall relire from office. For the same length of time, the Members to rellfe shall b8 selected by agreement, and In the absence of agreement, by lot. Related partie8 Con8tituènt Part8 of th• Eccl•8bourn• Vall•y Rallway Wyvem Rail PIC and th8 Eccl&$bourne Valley Railway Association {EVRA) work logelher but remain independent or9anisations. The Iwo organisation5 share Ihe common purpose of restoring and operating the Ecclesboume Vallèy Railway, but have specific roles. The Company: WyvernRall plc Wyvem Rall plc is a publlc limited company whose principal object is lo carry on the management and operation of the Railway in a commèrcial manner. Th1$ allows the Company to iai5e money by ihe Issue of shares and take responsibllty for the regulatory and legal s￿0 of the Railway and it8 physical ownership. Tho Eeclesbourne Valley Rallway Atysoclallon. IEVRA) The E¢¢lesbourne Valley Rai￿aY Association is a supporterfs group whlch was Set up a couple of year8 after tha company was formed. whose objec118 for the publ￿ benefit and to advance educalion,. to re8tor8. renovate. preser¥e and maintain artefacts (Includlng rolling slock, buildings and engin88ring equipment) and othor heritage features connected with the Eccl8sbourne valley raifvéay. EVRA members fom the volunteer group and provide charitable support and fundlng for proje￿1. REFERENCE AND ADMINISTRATIVE OETAILS Roglstorod Company numb•r 05257082 (England and Wales) Reg18t•r•d Ch•rlty numb•r 1106810 R•g18tered offlce Wirksworth Station Coldwell Street Wirksworth MATLOCK DE4 4F8 Tru8to98 B l Bowley Mrs L P Craft M Craft A Denham 8 C Fleld J L Hallam E R Hills D Imlliams S P Or¢hard {co-oplee) C Andrews (co-optee) Resigned 05106123 Independènt Examlnor Johnson Tidsall Limited Chartered Accountants 818urton R¢)ad Derby Derbyshire DE11TJ Pag8 5 ECCLESBOURNE VALLEY RAILWAY ASSOCIATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH2024 This report ha5 t*en wepared in accordance with the special provisions of Part 15 of the Companies Act 2008 relabng lo Small companies. Approvèd by order of the board of trustee8 on ./f.cc¥. oseC..3£>.2 ￿nd signed on its behalf by: LFty.-Yl P Craft - Trustee Page 6 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ECCLESBOURNE VALLEY RAILWAY ASSOCIATION Independent examlnerf8 report to the tru8teo8 of Ecclesbourn8 Vallèy Rallway A880¢iatlon Iyhe Company'l I r8POrt to the charity trustees on my examinalion of the accounts of the Company for the year ended 31 March 2024. Responslbilities and basis of report As the charity's trustees of the Company (and also its directors for th8 purposes of company law) you are responsib￿ for the pr8paralion of the accounts In accordance with the requirements of the Companies Act 2rx16 (Ihe 2006 Act,). Having satisfied mys8lf that the accounts of the Company are not required to b8 audited under Part 16 of the 20(X Acl and ar8 ellgible for independènt examinalion. I report in respect of my examinalion of your Charity's accounts as carried out under Section 145 of the Charities Act 2011 {'Ihe 2011 Act). In Carrying out my examination I have followed the Direclions given by the Charity Commission under Sectson 14515) {b) of the 2011 Act. Independent examlnorf8 Stalom•nt I have completed my examination. l Confimi that no matters have come to my attentlon in connection with the examination glving me caus8 to believe.. accounting records were not kept in respect of the Company a$ required by Section 386 of the 20IX Acl: or the accounts do not a¢¢ord wllh those records,. or the accounts do not comply wilh the aC￿untIng requirements of Section 396 of the 20Q￿ Act other than any requlrement thal the a¢¢ounls give a true and fair view which is not a matter ¢C￿51dered as part of an independent examination., or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charitses {applicable to charities preparlng thelr account$ in accordance with the Financial Reporting Standard applicable in the UK and Rewblic of Ireland {FRS 102)). I have no concems and have come across no other matters Sn conneclion wilh the examination to which artenlion should be drawn in this report in order to enable a proper understanding of the accounls lo be r8ached. D8Vi lor FCA Johnson Tidsall Llmited Chartered Accountants 81 Burton Road Derby Derbyshire DE1 1TJ Dale.. Pag8 7 ECCLESBOURNE VALLEY RAILWAY ASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 2024 Total funds 2023 Total funds Unrestricted fund Reslricted funds Noles INCOME AND ENDOWMENTS FROM Donalion8 and legacles 86,713 318 87,031 26.129 Other trading activities Investment income 58,756 58,756 72,647 697 Totsl 151471 318 151,789 EXPENDITURE ON Raising funds 123,261 835 124,096 100.474 Other 177 32,583 Total 177987 178 999 133 057 NET INCOMEI(EXPENDITURe) (26,5161 (694) (27,210 {33.584) RECONCILIATION OF FUNDS Tolal funds brought forward 1,028,086 118,877 1.146,983 1,180,547 TOTAL FUNDS CARRIED FORWARD 1001670 118 183 1119 753 1146 963 The noles form part of these fil￿nCIal stslements Page 8 ECCLESBOURNE VALLEY RAILWAY ASSOCIATION BALANCE SHEET 31 MARCH 2024 2024 Total fund¥ 2023 Total fund8 Unfestricted fund Restricted funds Not8s FIXED ASSETS Tangible assets Heritage assets Investments 468.820 197,248 468,620 197,248 2,100 348,230 194,326 2.100 12 13 667,988 667,968 542,656 CURRENT ASSETS Slo¢k$ Debtors Cash at bank and in hand 14 15 7,576 280,848 7.576 280,848 8.003 222,712 378,704 118183 378,081 118,183 496.264 609.419 CREDITORS Amounts falling due within one ye8r 16 144,479) {44,479) (5.112) NET CURRENT ASSETS 333 602 451785 TOTAL ASSETS LESS CURRENT LIABILITIES 1,001,570 118,183 1,119,753 1.146,963 NET ASSETS 1001570 118183 1119.753 1,146983 FUNDS Unre8tricted funds Restricted funds 17 1,001.870 118183 1.028,086 118877 TOTAL FUNDS 1119753 1 146.963 The charitable cornpany Is entiued lo exemptlon from audit under Section 477 of tho Companies Act 2006 for the year ended 31 March 2024. The members have nol required the company lo obtain an audit of its financial statements fof Ihe y8ar ended 31 March 2024 in accordance with secti¢￿ 476 of the Companies Act 20(￿. The trustees acknowledge Ihelr responsibilities for (a) ensuring that Ihe charitable company keeps accounllng records that comply with Sections 388 and 387 of the Companies Acl 2006 and preparing financial statements which give a true and fair vi8w of the slate of affairs of Ihe charitable company as at the end of each financial year and of its surplus or defKit for each financlal year in accordance with Ihe requirements of Sections 394 and 395 and which otheTriise compty with Ihe requirements of Ihe Companies Act 2006 relating to financial stalements, so far as appllcable to the charitable company. {b) The note5 fonn part of these financial statements Page 9 ECCLESBOURNE VALLEY RAILWAY ASSOCIATION BALANCE SHEET- contlnued 31 MARCH 2024 These ffinancial Statements have been prepared in accordance with Ihe provisions applicable to charitable companies subject to the small companies regirne_ The financial statements were approved by the Board of Trustees and aulhon3ed for issue on and were signed on its behalf by.. A'oenharn - Trustee Craft - Trustee The notes form part of these financial statements Pagè 10 ECCLESBOURNE VALLEY RAILWAY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 STATUTORY INFORMATION Eccl8sboume Vall8y Railwty Asso¢iatlon 1$ a ¢harilable ¢cMnpany, registered in England and Wales. The charilable ¢ompaWs registered company number. register8d charity number and registered offKe address can be found in Ihe reference and adminislrati¥e details of the Report of the Trustees. ACCOUNTING POUCIES Bas18 of preparing the flnanelal statement8 The financial statements ol the charitable company. which is a public benefil entity under FRS 102, have been prepafed in accordance with the Charities SORP {FRS 102) 'Accounting and Reporting by Charities.. Stalement of Recommended Practice applicabl6 to charities preparing their accounts in accordanc8 with the Financial Reporting Standard applicable In the UK and Republic of Ireland (FRS 102) (effective 1 January 2019),. Financial Reporting Standard 102 'The Flnan¢i81 Reporting Standard applicable in the UK and Republic of Ireland, and Ihe Companies Act 2006. The financial stalements have been prepared under Ihe historical cost convention, with the exceplton of Investments which are included at market value. The presentation currency of the financlal statements is the Pound Sterling {£). Slgnlflcant ludgemènts and ¢8llmat•• The estlmates and underlying assumptions are reviewed on an ongolng basis. Revisions to accounting esllmates are recognised in the period in which the e81imale is revised if revision only affect8 Ihal period, or in th8 period of Ihe revlslon and lulure periods rf the revi3ion affects both current and fvture perlods. The following judgemenls and estlmates have been made in thè proc8s8 of applying Ihe charity's accounting policies thal hav8 had the rnc￿t S￿nifIcan1 effect on amounts rècognised in the finan¢lal stalemenls: Depreciation - the u8eful Ilfe of fixed as￿18 is based on recognised accounllng F)olicies. Estirnates are calculated on historic experience and currant expeclalions of useful life. Income and dobtor8 In¢om• All income Is recognlsed in the Statement of Financial Acllvllles once Iha charity has entitlement lo the ILSnds. it is probable that the Income will be received and the amount can be measureil reliably. Donated seNl¢es and goods are recognised as income when the charity has control over them, the economic benefit is probable and Can be measured reliably. In accordance wilh the Charities SORP (FRS102). volunteer time is nol recognised. For donations to be recognised the charity will have been notlfied ol Ihe amounts and the 8elllemenl (late. If there are condlllons attached to the donation and thls requires a level of performance before entittem6nt can be obtalned, then income Is deferred unlil those conditions are fulty met or the fvlfilment of those condilions is within the control of the charity and it is probable that th8y wlll be fulfilled. For legacies, entillement is the earller of Ihe charity being notified of an Impending distribution or the legacy being received. Al Ihi$ poinl incorne is recognised. Income from tradlng a￿1vIlle8 includes incorne earned from fundraising 8V8nts and trading activilies to ralse funds for the tharity. Income is received in exchange for supplying goods and services in order to raise furKls and is recognised when enlitlemenl has occurred. Local govemmenl grant8 were received in the year In respect of COVID - 19 support an conlribulion8 towards a playing field. Income from government and other grants afe recogni58d at fair value when the charity has enlillement after any perf0m￿nCe condilions have been met, it is probable that the income will be received and the amount Can be measured reliably. If enlillemenl is not met then these amounts are deferred. Investment I￿ome is earned through holding assets for investment purposes such as shares and bank deposit accounts. It includes dividends and interest. It is includ8d when the amount can be measured reliabty. Page 11 ECCLESBOURNE VALLEY RAILWAY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES . ¢ontlnuod Incom• and d•btorn D•btors Trade debtors and other deblors are re￿gnIsed al the settlemenl amount due. Expendlture Li8bililies are recognised as expènditure 85 soon as therè is a legal or constructive oblyation comrnittirMJ lh8 charity to that expendilufe. it is probable thal a transfer of economic benefits will be required in settlem&nl and the amount of the obllgation can be measured reliabty. Expenditure Is accounted for on an a¢¢ruals basis and has been classified under headings Ihal agg￿gate all cost related lo Ihe category. Where costs cannot be direclly attributed to particular h￿dingS they have been allocated lo activilies on a basis consistent with the use ol resources. Govomance c08t8 Govemance costs are those incurred in relation to the administration of the Associ8tlon. Tanglble flxod a88ets Depredalkon ts prOV￿ed al th8 following annual rates In order to wrlte off each a$$o1 ovar ils estimated useful lrfe. lrnprovem6nts to property - at rates of and 40h on c05t. Plant and rna¢hinery - at rate5 of 12.50kn and 2511h on cost. Computer equlpment- at a rate of 33.3% on ¢081 Tangible fixed assets are stated at cost or deemed coslg l•s$ accumulated depreciation. Cost indudes cos18 dlrectly attributable to maklng the asset capable of operating 88 intended. Ronovalion work to the slalion buikling at V¥lrksworth is classed a fixed asset. Herltage asset8 Heritage assets represenl rolllng stock and a narrow gauge Ilne. They are slated at original cost plus refurbishmant Costs less deprecialion to dale Depreciation has not been provided on these as8ets for 8ever81 years as they are considered to be appracialing a$sel$. Inv￿lMent6 Investments are valued at cosl which is deemed to be falr value. Movements In market value are reflected In the $tatement of financlal a¢llvrtle8 as a nei gainl(los$). stoek$ Stocks are valued at the lower of co$l and net realisable value. after maklng due allowan¢e for obsolete and slow moving items. Stock8 of donated Ilems a￿ recognisad as Mvenue when the items are aclually sold. Taxatlon The charity 18 exempt from corporalion tax on ils charitable acti¥ltle$. Fund accountlng Unrestricted funds Can be used in accordance wilh the charitable obJ8ctiV8s at the discrelion of Iha trustees. Restricted funds c8n only be used lor parficular reslrict8d purposes wlthin Ihe objects of the Charlty. Reslrictions arlse when 8pecified by th8 donor or when funds a￿ raised for particular restrlcted Purposes. Further explanation ofthe nature and purpose of each furnj is included in the notes lo Ihe financial statements. Flnanclal Instruments Flnancial instrumenls are classified and accounled for, accordin9 to lh8 subslance of Ihe conlractual arrangemenl, as eilher financial assels, financial liaknlilies or equty instruments. An equity instrumenl is any contract that evidences re5￿Ual interest in the assels of the company after deducting all of its liabilities, Page 12 ECCLESBOURNE VALLEY RAILWAY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2024 DONATIONS AND LEGACIES 2024 2023 Donalions Gift aid Legacies Grants Subscriptions 37,526 7,885 33,426 628 12,684 3,876 743 Grants ￿ceIved. induded in the above, are as follow$'. 2024 2023 Olher granls 628 OTHER TRADING ACTIVITIES 2024 2023 Fundralsing events Shop income Coach rnnnlng and 8teamlng fees Income from driver 8xperience Miseallaneou$ income 9,302 38,386 11.058 8.624 39.608 17.712 3,980 10 72.647 The charity ￿neffits Irom the in¥olvemenl of volunteer8 end tru8tees, delails of which are given in our annual report. In accordance with FRS102 and the Charilies SORP '. 2024 2023 Depreciation - owned assels Deficlt on disposal of fixed asselj Independent examlnallon 24,048 410 19,616 1,415 10. TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefit$ for the year ended 31 March 2024 nor for tho yoar ended 31 March 2023. Tru•t0•8' •xpon8•8 There wem no Irustees, expen8e8 pald ts Ihe year ended 31 March 2024 nor for Ihe year ended 31 March 2023, Page 15 ECCLESBOURNE VALLEY RAILWAY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 11. TANGIBLE FIXED ASSETS Improvements to prop8ty Plant and machlnery Computer equlpment Totals COST At 1 April 2023 Additions Disposals 347,810 134,934 134,289 11,329 482 250 482.581 146,513 At 31 March 2024 732 DEPRECIATION At 1 Apnl 2023 Charge for year Eliminaled on disposal 28,376 10,063 107,679 13,783 296 200 136.351 24.048 At 31 March 2024 120452 496 169 387 NET BOOK VALUE At 31 March 2024 236 At 31 March 2023 26,610 346 230 Property as8ets are shown a8 Impr¢)vements to propety as Ihe charity does not hold the Ireehold title. Thi8 is held by Wrfveln Rail plc and ielates to the 31alion bullding at Wrksworlh. 12. HERITAGE ASSETS Total MARKET VALUE Al 1 April 2023 Additions Disposals 206,960 3,720 At 31 March 2024 209 980 PROVISIONS At 1 April 2023 Charge for year Eliminated on disposal 12,634 At 31 Mar¢h 2024 12.732 NET 800K VALUE At 31 March 2024 197 248 At 31 March 2023 Page 16 ECCLESBOURNE VALLEY RAILWAY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 13. FIXED ASSET INVESTMENTS Unlisted investments MARKET VALUE At 1 April 2023 and 31 March 2024 100 NET BOOK VALUE Al 31 March 2024 Al 31 Mar¢h 2023 There were no inveslmenl assels oul8lde Ihe UK. 14. STOCKS 2024 2023 Stocks 15. DeBTOR8 2024 2023 Amounts falllng due withln on8 year: Trade deblors Deferred expendilure Other debtors VAT Prepayments and accrued incorn• 6,243 8.148 34.815 16,167 5.038 8,145 2.842 5,790 191 22,0(X3 Amounts falling due aftèr mort than one yèar: Deferred expendrture 200 708 Aggregate amounts 222 712 Deferred expendilure ￿lateS lo costs incurred ￿ Ihe renovalion of Ihree locomotsve englnes leased to the Association by an Indlvldual. The lemis of the lease are for a period of 20 years comm8ncino when the engines have been restored. Th8 debtor represenls the costs to date to renovatè th8 locomotlve$ to full working order for use on the Ecclesboume Valley line less annual writè offs on a slraighl line ba$i8 lo axpenditure over the period of the lea8es. Page 17 ECCLESBOURNE VALLEY RAILWAY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2024 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditors Other creditors ACM￿15 and deferred income 9,215 2,547 2.836 44.479 17. MOVEMENT IN FUNDS Net movemenl in fund8 At 3113r24 At 114r23 Unmtrlcled lund• General fund 1,028,086 (26,516) 1,001,570 RMtrl¢t•d fund• Heritage Lottery Fund Capital Granl Other Booking Hall appeal Mlnlatuie Railway 31,281 12,157 73,930 1509 ￿586 (108) 31,173 12,157 73,930 923 118877 118183 TOTAL FUNDS 1146 963 27 210) 1 119753 Net movemenl in funds, included in above are as follows: Incoming resources Resources expended Movement in funds Unmtrl¢t•d fund• General fund 151,471 {177,987> (26,5161 Restrlcted funds Heritage Lottery Fund Capital Giant Miniature Railway {108) (108) 318 318 TOTAL FUNDS 151789 178 999) 27 210) Page 18 ECCLESBOURNE VALLEY RAILWAY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2024 17. MOVEMENT IN FUNDS - continued Comparatlves for movem•nt In funds Nel movemenl in funds At 31r3r23 At 114122 Unr•8trl¢ted fund• General fund 1,061.714 (33.628) 1.028,08e R•8trfctsd fund8 Hewilage Lottery Fund Capital Grant Defbyshire Aggiegales Levy Grant Scheme Other Booking Hall appeal Miniature Railway 35,750 1,976 9.879 70,028 1.200 14,489) (1,976) 2,278 3,902 309 31.281 12.157 73.930 1.509 118833 118877 TOTAL FUNDS 1 180 S47 1 148 963 Comparative net movemenl In fund8, included in the above afe 88 lollows,. Incoming resources Resources expended Movement in funds Unr•8tr1ct•d fund• Gen•ral fund 92,984 (126,6121 (33,628) RHtrICt￿ funds Heritage Lottery Fund Capilal Grant Derbyshire Aggregates Levy Grant Scheme other Booking Hall appeal Mlnialure Railway {4.469) (1.976) (4,469) (1,976) 2,278 3,902 309 2,278 3,902 309 8.445 TOTAL FUNDS 133 057) Page 19 ECCLESBOURNE VALLEY RAILWAY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 17. MOVEMENT IN FUNDS - contlnued A current year 12 months and prior year 12 months combined position is as follows.. Net movement in funds At 3113124 At 114122 Unro8trlcted fund$ General fund 1.061,714 (60.144) 1.(MJ1,570 Re8trlctod fund8 Herltage Lottery Fund Capital Grant D8rbyshife Aggregates Levy Grant Scheme Other Booklng Hall appeal Miniature Railway 35,750 1,976 9,879 70,028 1,200 {4,5771 (1.9761 2,278 3,902 277) 31,173 12,157 73,930 923 118833 650 118,183 TOTAL FUNDS 1180 547 1 119,753 A current year 12 months and prior y&ar 12 months combined net movement In funds, Ineluded In the above arn as foll0v￿.. Incomlng resources Resources expended Movement In fund6 Unrestrlctsd fund• General fvnd 244,455 (304,599) (80,1441 R08tr1cled funds Heritage Lottery Fund Capital Grant Derbyshlre Aggregates Levy Granl Scheme Other Booking Hall appeal Minialure Railway {4,57n <1,976) (4.577) (1.976) 2,278 3,g)2 2.278 3,902 627 650 TOTAL FUNDS 312.056) 60.794) Re8trlct•d fund• These comprise." Hèrftsga Lott•ry Fund Capltal Grnnt Received to restore Iccomotive engine Ferrybridge No3 'Wee Yorkie. to lull working order. Derby8hlre Aggregates Levy Grant S¢hem• Relates to grants for Ihe resloration and development of Wirksworth statlon, Relales to steam income and expendilure and refiects the movèment on the Steam bank account. Booklng Hall Appeal Spacffic appeal to the general public lo assist with th8 restoration and development of W1￿$v￿rth slalion. Page 20 ECCLESBOURNE VALLEY RAILWAY ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2024 17. MOVEMENT IN FUNDS- contlnued D•rby8hlre Dale8 CC - playlng fields grant Grant received for the restoration of the children's play area. HRA pa88 money Relales to monies collected and paid over to third parties. Mlnlature Rallway Specific donation to a￿1$1 with Ihe fundlng and maintenance of Ihe miniatur8 railvmy. 18. RELATED PARTY DISCLOSURES There were no related paty transactions for Ihe year ended 31 March 2024. Page 21