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2022-12-31-accounts

The Foxfield Light Railway Society Ltd.

Annual Report and Accounts For the year ending 31[st] December 2022.

Registered Charity, number ; 1127378
Company Number ; 01034972
Registered office ; The Foxfield Light Railway Society Ltd.
Caverswall Road Station,
Blythe Bridge,
Stoke on Trent,
ST11 9GB

Page 1 of 19

Notice of the 52[nd ]

Annual General Meeting of the Foxfield Light Railway Society Ltd.

Meeting to take place at Caverswall Road at 19.30 hrs on Friday 17 November 2023

Agenda for the Annual General Meeting.

There are five candidates and five seats, so a ballot is not required.

Dated 15 October 2023, by Order of the Directors and Trustees

Notes

Full Members can return Postal/electronic Votes should they not be able to attend the AGM.

An electronic voting slip will be attached with the electronic version of the Annual Accounts AGM items 2, 3, & 4. This should be returned to bill.sellwood@foxfieldrailway.co.uk no later than Tuesday 16[th] November 2023.

Full Members without electronic contact will be sent a letter. an Annual Report and voting slip can be collected prior to the start of the Annual General Meeting on 17[th] November 2023.

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Confirmation of the minutes of the Fifty First Annual General Meeting held Friday 9[th] December 2022 Via Zoom Online Platform at 19.30.

2.1 Present.

The Meeting was opened by Mr D M Scragg at 19.48. 13 Members were present – A full list of attendees is available upon request.

2.2 Apologies.

Apologies were received from, Mr D Westerman Mrs L Westerman, Mr C Beardmore, Mr M Healey, Mr R Garside, Mr D Lohrenz.

2.3 Minutes of 50[th ] AGM Meeting.

The Chair sought a proposer to the minutes of the 50[th] AGM Meeting Proposed by Mr T Barnett and seconded by Mr R H Whalley. Agreed by all present.

2.4 Annual reports and Accounts.

The Annual reports and Accounts had been shared to all Full Members, Mr M Bloor proposed the accounts and seconded by Mr J Adshead. Agreed by all present.

2.5 Appointment of Auditors.

Mrs J Bate Proposed appointment of Hunter Jones Associates as external, independent examiners for a second year. Mr T Brammer Seconded. Agreed by all present.

2.6 Appointment of Directors

The constitution states Three Directors are expected to retire on a rotational basis. Mr D M Scragg, Mr T Barnett and Mr D Allen retired and confirmed their intention to stand for re-election.

Dr R A Warren and Mr J Adshead had resigned during the year creating two vacancies. Mr G Riley and Mr T Brammer had been co-opted onto the board. Nominations had been received, accepted, and appointed as Directors.

A Nomination had been received from Mr D Lock and this was accepted, and he was appointed as Director.

All six vacancies were filled.

2.7 Call for EGM

An EGM meeting for a members meeting was arranged to be held at 1pm on Sunday 22 January 2023 in the Buffet at Caverswall Road to discuss amendments to the types of membership.

Page 3 of 19

3.0 Annual Report of the Directors, for the year ending December 31[st] , 2022.

The Directors, who are also Trustees, are pleased to present their annual report together with the financial statements of the Company for the year ending 31[st] December 2022. These are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Trust’s Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities.

3.1 Chairmans’ Report for the year ending December 31[st] , 2022. Mr D M Scragg

As memories of the Covid 19 epidemic begin to fade its perhaps timely to remind ourselves that its impact was very much with still with us in 2022.

An ambitious but necessary programme of track maintenance began in January with a core team of members drawn from all areas of the railway. The team worked throughout the winter but as Easter approached it was clear that the work would not be completed in time for the traditional bank holiday opening. At any given time around six members from a core of ten worked tirelessly, most not the youngest of souls and clearly a situation that was of some concern.

The railway was successfully opening in May, and whilst devoid of several events had a good season from that point onwards. In the background many tasks advised by ORR were addressed including resurfacing of the Carriage and Wagon platform, competency issues and housekeeping. The foundations for the new Spencer shed were laid and the steel work was complete and ready for delivery at the end of the year.

The Santa Specials in the guise of the North Pole Express were, as ever, the Jewel in the crown of the railway’s operation for the season. Organisation and planning are of course a huge and that the railway is reliant upon this revenue stream, particularly so as the use of contactors on the P Way was under active consideration.

With Wimblebury on hire for the main season MTE No 3 and KS 4388 handled the service trains. Off-site the major rebuild of Hawarden’s boiler was completed and the boiler was returned to the frames in December.

By the end of the year, it was clear that the railway and its membership would face several challenges in 2023, there was a strong optimism that it would do so with finances in a good position.

Mr David M Scragg, Chairman Foxfield Light Railway Society Limited

3.2 Operations & Permanent Way Report

An inspection of the track over the winter indicated that there were areas which needed attention both to gauge and twist. Each weekend saw teams of 4 ~ 8 persons (average age 60) working on various parts of the line starting with “Gas Works” curve. As the weeks went on it became clear the work defined as “necessary and urgent” would not be completed by Easter, so the start of the operating season had to be delayed by a few weeks until we were satisfied that the line was fit for traffic all be it with a “5” over the level crossing.

A further few weeks of work after the season but before the North Pole Expresses improved a little more of the track, but importantly allowed us to have a better record of the overall condition of the

Page 4 of 19

asset. It was clear that this work would have to continue in earnest over the next year (2023) and probably beyond as there are still short stretches of line which have never been re-sleepered.

It was brought home when I realised that we were replacing concrete sleepers which some of the team were putting in some 40 years ago and which, at the time, we felt would outlast us.

Our work has been greatly aided by the use of a track recording trolley, something which we will need to use on a regular basis to ensure that our slim resources are used to the best advantage.

On the purely operational front, the railway performed satisfactorily with no incidents of note and the only signalling failure was a lamp holder and transformer in the only “standard” ex BR signal head. Our own novel system continues to operate to specification.

Ron H Whalley Operations and Permanent Way Manager and President

3.3 Infrastructure

During 2022 request were sent out several times asking the membership for assistance with running the department. This assistance is based more towards carrying out the annual inspections, risk assessments and day to day upkeep of records along with the planning of the annual work bank and fault rectification.

Throughout year no responses for assistance were received and the workload continued to mount up along with other commitments. Anyone who is interested would be given full training and assistance in all aspects of the department in order to gain the knowledge to manage and take forward the department.

Following on from the ORR visit the department was tasked with improving many aspects of the infrastructure and safety related items, much work had been carried out with trespass guards being installed, upgrades to fencing, improved sighting at level crossings and temporary measures being implemented at several level crossings. A big thank you to those volunteers who have supported and led these works.

At the end of the 2022 year there was some major works on the top straight to improve the stability of the embankment over one of the ditches/drains, this work totalling seven days and several thousand pounds has ensured the stability of the embankment for many years to come after replacing the life expired wooded retaining wall.

Looking ahead to 2023 the department will be pushing to improve several poor drainage sites after falling behind with the work plan while assisting the permanent way relays during the spring and summer of 2022. Work will include many more trespass guard installations, fencing and the general vegetation management.

All offer of help will be greatly received and no matter what your skill set.

3.4 Plant & Equipment

During the 2022 year the plant based at the railway was again invaluable in the assistance of track relays, ballasting, draining, material transport and lifting operations within the locomotive department. Unfortunately, reliability often was an issue with some breakdowns that could have been avoidable if better care in maintenance had taken place. This demonstrates that more time is needed for the upkeep of plant and equipment in order to provide its use for future years and assistance in removing the manual labour of many aspects of maintaining the infrastructure.

The plant has demonstrated how much manual labour can be removed from many tasks undertaken around permanent way and infrastructure. A flail was overhauled to work with the RRV digger to

Page 5 of 19

assist in removal of lineside vegetation, in addition to assistance of the RRV to load/unload sleepers and lifting of rails at a fraction of the time compared to traditional methods speeded up relay times and again reducing the manual labour required.

Several days’ work took place using the mini digger to clear out all our line side ditches and drains in order to assist with drainage, a job that has traditionally just relied on drain rods and shovel so again the use of plant has taken away much manual labour and allowed better use of volunteer availability and mechanised work is definitely the way forward.

Plant & Equipment does not relate to large plant, it also includes many smaller items like woodchippers, compressors, strimmer, disc saws and other petrol-powered items along with lifting equipment and access equipment like ladders and scaffold towers. In 2023 a full asset list will be available, plus a maintenance and inspection plan will be implemented alongside training for working at heights and safe use of the equipment. This was one of the areas that ORR focused on during their inspection and so progression will increase in implementing these requirements.

3.5 Competence & Training including HOPS.

The training and competence improved during 2022 whereby the FLRS board agreed to implement an electronic competence system known as HOPS, this system was originally intended to store competence of volunteers along with evidence to cover all operational roles. This has grown and been implemented well within the operations and locomotive departments. Following on from the ORR inspection it was highlighted that several areas need to be improved with regards to competence, record keeping, and material used to create and assess competence, these issues have been actioned with internal and external assistance and will be ongoing into the 2023 season.

There was an increase in the requirement to complete competence papers or assessments in order to comply with ORR and the basics of running a safe railway.

Upon compilation of this report around 90% of all operational volunteers have created their HOPS accounts and around 80% of all volunteers are entered on HOPS. This is a massive leap forward as it now allows better communication between all parties and better access to information as it is produced. There will still be communication as required through notices and emails to include everyone, but we urge anyone not signed up to HOPS to consider doing so.

The HOPS system was also set up for rostering within locomotive and operations departments.’ This has also proved successful and again a good way of communicating and giving access to information on rostered turns and the yearly diary. looking towards the 2023 season the Buffet, shop, bar and other station roles will be included in the rostering so please keep an eye out for the updates.

One of the biggest shortfalls had been the implementation of the Safety Management System (SMS) briefings requiring all safety critical staff complete. Two sessions were run in 2022 with more planned to run in 2023. This briefing is a requirement for ALL safety critical staff in addition to the medical questionnaire and full medicals as required for roles. These competencies and PTS must be kept up to date failure to keep these up to date will result in the restriction of operational roles.

Please ensure you keep an eye on your own competencies, Head of Departments will be monitoring in addition.

I am grateful to the Heads of Departments, those that have and continue to assist with competence and training and to all the volunteers for their assistance, without this help we wouldn’t be in such an improved position.

Jon Adshead

Head of Department for Infrastructure, Plant and Equipment and Competence and Training

Page 6 of 19

3.6 Museum Report

Progress on the Museum during 2022 has seen the installation of a third display case as a new “Temporary Exhibition” display to house a changing series of displays using some of the more unusual objects in the collection. This year it focused on Railway Food & Drink; Railway Safety; Loco Building around Stoke.

The Museum has also been re-wired and new lighting installed. An interactive display for the Cab of Moss Bay has been commissioned from a supplier in Nottingham for installation in 2023. Other interactives including a handling collection are also in the process of being developed.

The Museum has continued to accept donations, including a large collection of material relating to Shelton Iron & Steel, as well as a small collection of narrow-gauge and NSR related items (signal box chair; signal bell code diagram).

The Museum Store has begun to be relocated from the former Strong Room upstairs into the former Main Office. New shelving, acid free foam and paper have been purchased. A process of re-labelling and creating a location matrix has also been started. This work will continue in 2023 but additional storage space (dry, warm) is essential.

Existing catalogues on hand-written record cards have been written up (where possible due to handwriting) in electronic format and the catalogue is complete in electronic format for the existing FLRS collection and the Shugborough Collection. There is an outstanding backlog of cataloguing orphaned objects (those with no label or paperwork) in the collection. Cataloguing is being completed to SPECTRUM 5.0 standard – the national museum standard. The Museum collection consists of 205 objects on the main catalogue accessioned to SPECTRUM Standard; 153 in the ‘old’ catalogue and 226 on loan from Shugborough; and an unknown number of orphaned objects.

Storage space is now at a premium and further space required for the best storage of the collection. SPECTRUM specific procedures and policies have been created and they have been sent out for peer review by the West Midlands Museum Development Agency. Dialogue between Foxfield and Staffordshire Museums regarding the former “Shugborough Collection” is ongoing. These policies are to Accreditation Standard and should be approved in 2023 following the review process. This puts us well on the way toward Accreditation.

The Museum has been registered with the Association of Independent Museums, which means it is now a registered (but not accredited) Museum, part of a national network of small independent museums and which has opened up substantial training, and funding, opportunities. The Museum has been awarded £300 in training grants from the Association of Independent Museums to send the Museum Manager (Anthony) on two training courses. It has also been awarded funding from the Museums Association for Anthony to attend training courses throughout the year including the annual four-day Conference where he represented Foxfield at a National event in Edinburgh. Anthony has also completed the Museum Association accredited course “Museums Essentials”. Grant funding has been sought from AIM for development of new displays at the Colliery, status pending. The Museum was not successful in a bid for conservation funding due to the physical condition of the museum building.

Pests have remained a problem, both avian and rodent. Damp and humidity is also a serious problem – not helped by numerous holes in the roof - with existing means to maintain a stable atmosphere in the display cases having not been successful. Organic (paper, wood) and some metal (ferrous) objects have been removed from display due to being damaged by damp.

. It is hoped to be able to start the Accreditation Process in 2023. The Railway will then have three years in which to complete this.

Anthony Dawson, Museum Manager and Director

Page 7 of 19

3.6 Financial review for year ended 31[st] December 2022

The income and expenditure figures are presented in the next sections.

2022 saw integration completed onto the online financial platform Xero. Development was ongoing throughout the year and more tweaks were expected in 2023. Epos systems continued to be used effectively. Financial reporting was still in progress however reports were being provided most board meeting and being improved based on Director’s requirements.

Paper filing had virtually disappeared with the system on 365 being embedded well.

There was a change in Bookkeeper services in 2022 due to the original bookkeeping service not being as effective and efficient as originally expected. No other departmental reports were received.

I am very pleased to report that at Profit was made without the aid of any grant funding or any legacies being received in 2022 season. Let’s hope this can continue for 2023.

Jane Bate Financial Director

Page 8 of 19

For the purposes of the Charity Commission, our Charitable details are:

Charity number ; 1127378 Company Number ; 01034972 Registered office ; The Foxfield Light Railway Society Ltd. Caverswall Road Station, Blythe Bridge, Stoke on Trent, ST11 9BQ Our Independent Examiners are Hunter Jones Alton. Chartered Accountants, 36, Bridge Street, Belper, Derbyshire, DE56 1AX Our bankers are: National Westminster Bank. Longton.

Rs

Jane Bate MCIPS

Financial Director, FLRS Ltd.

3.5 Directors, Trustees, and related parties

The directors of the charitable company (the charity) are its trustees for the purpose of charity law.

The Trustees, Directors and Officers serving at the start of 2022 were:

----- Start of picture text -----
|||| |---|---|---| |Chairman, Workshop Lead|;|Mr D M Scragg| |Vice Chairman, Marketing|;|Dr R A Warren| |Infrastructure|;|Mr J Adshead| |IT advisor|;|Dr D R Allen| |Permanent Way|;|Mr T Barnett| |Traction & Rollingstock|;|Mr M Healey| |Buildings|;|Mr J Tweedy| |Museum Manager|;|Mr A Dawson| |Assorted|;|Mr T Brammer| |CCTV|;|Mr G Riley| |Minutes Secretary|;|Mr S Turner| |Finance and Admin|;|Mrs J Bate|

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

The Trustees, Directors and Officers serving at the end of 2022 were as above less Mr J Adshead and Dr R Warren who resigned from the Board during the 2022 season. In addition, co-opted members consisted of Mr G Riley and Mr T Brammer, plus Mr D Lock who was nominated at the AGM.

None of the Trustees receive remuneration or other benefit from their work with the charity. Any connection between a trustee or staff member of the charity with a supplier to the charity must be

Page 9 of 19

disclosed to the full board of Trustees. Details of Trustees’ expenses and related party transactions are disclosed in Note 14 to the accounts.

3.6 Risk Management

The Trust maintains a continual overview of the potential risks that could affect the charity in future years. The trustees are satisfied that sufficient provision is in place to mitigate these risks and that the reserve funds are necessary and prudent in the circumstances.

3.7 Trustees’ Responsibilities in Relation to the Financial Statements

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

Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the situation of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing the financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement as to disclosure to our Independent Examiner

Independent Examiners

A resolution proposing Hunter Jones Alton be appointed as independent examiners of the charity will be put to the Members at the Annual General Meeting.

Approval

This report has been approved by the Board of Directors and Trustees and is signed on its behalf by:

J Bate

Financial Director Dated: 12[th] November 2023

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3.8 Report of the Independent Examiners to the Members of Foxfield Light Railway Society Limited

We report on the financial statements for the year ended 31 December 2022 on pages six to thirteen which have been prepared under the historical cost convention and the accounting policies.

3.9 Respective responsibilities of trustees and examiners

As described, the charity’s trustees who are also the directors of the Foxfield Light Railway Society Limited for the purposes of company law, are responsible for the preparation of financial statements in accordance with applicable law and United Kingdom Accounting Standards. The charity’s trustees consider the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.

Our responsibility is to:

3.10 Basis of independent examiners’ report

Our examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records.

It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, we do not express an audit opinion on the view given by the accounts.

3.11 Independent examiners’ statement

In connection with our examination, no matter has come to our attention which gives us reasonable cause to believe that, in any material respect, the requirements: to keep accounting records in accordance with S41 of the 1993 Act; and to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 1993 Act have not been met; or to which, in our opinion, attention should be drawn to enable a proper understanding of the accounts to be reached

Hunter Jones Alton Chartered Accountants 36 Bridge Street Belper Derbyshire DE56 1AX

Page 11 of 19

Foxfield Light Railway Society Limited (Limited by Guarantee) Statement of Financial Activities for the Year Ended 31 December 2022

Income
Donations and legacies
Charitable trading
activities
Other income
Total incoming
resources
Expenditure
Charitable activities
Other expenditure
Total expenditure
Net income / (loss) for
the year
Net movement in
funds
Reconciliation of
funds
Total Funds brought
forward
Movement in funds
Total funds carried
forward		 Notes
2
3
4
5
6		 Restricted
funds 2022
£
0.00
0.00
0.00		 Unrestricted
funds 2022
£
4,799
216,530
8,903
230,232
105,107
96,407
201,514
28,718
-
493,619
28,718
522,337		 All
unrestricted,
restricted and
endowed funds
2022 £
4,799
216,530
8,903
230,232
105,107
96,407
201,514
28,718
493,619
28,718
522,337		 All
unrestricted,
restricted and
endowed
funds 2021 £
98,746
148,470
8,621
255,837
112,568
137,428
249,996
5,841
-
487,778
5,841
493,619		 All
unrestricted,
restricted and
endowed
funds 2021 £
98,746
148,470
8,621
255,837
112,568
137,428
249,996
5,841
-
487,778
5,841
493,619

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages thirteen to nineteen form part of these financial statements.

Page 12 of 19

Foxfield Light Railway Society Limited (Limited by Guarantee)

Balance Sheet as at 31 December 2022

Notes 2022 2021
£ £ £ £
Fixed Assets
Tangible Assets 7 332,810 286,280
Current Assets
Debtors 8 29,197 19,373
Stocks 2,000 125
Cash at bank & in hand 297,850 311,189
329,047 330,687
Creditors:Amounts falling due
within one year 9 33,591 24,046
Net Current Assets
295,456 306,641
Total Assets Less Current 628,266 592,921
Liabilities
Creditors: Amounts falling
due after one year
Locomotive repair fund 10 (105,929) (99,302)
Net Assets 11 522,337 493,619
The funds of the charity:
Unrestricted income funds
552,337 493,619

The financial statements on pages eleven to nineteen were approved by the Trustees on and were signed on its behalf by:

Director

Dated: 12[th] November 2023

The notes on pages thirteen to nineteen form part of these financial statements

Page 13 of 19

Foxfield Light Railway Society Limited (Limited by Guarantee)

Notes to the Financial Statements for the Year Ended 31 December 2022

1 ACCOUNTING POLICIES

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Basis of preparation

The financial statements have been prepared on a going concern basis in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and with the Charities Act 2011.

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

Preparation of the accounts on a going concern basis

The Trustees have at the time of approving the financial statements a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the financial statements.

Income recognition policies

Items of income are recognised and included in the accounts when all of the following criteria are met:

Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity, this is normally upon notification of interest receivable per the bank / building society.

Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Restricted funds are unrestricted funds of the charity which the Trustees have decided at their discretion to set aside to use for a specific purpose.

Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings: Costs of raising funds comprise the costs of commercial trading, mainly the shop in the Visitor Centre.

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Foxfield Light Railway Society Limited (Limited by Guarantee)

Notes to the Financial Statements for the Year Ended 31 December 2021 (continued)

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings - 5% on reducing balance. Plant and equipment etc - 10% on reducing balance.

Stocks

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

Debtors

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

Cash at bank and in hand

Cash at bank and cash in hand includes cash, current account, and deposit accounts / fixed term accounts with a maturity of twelve months or less from the date of opening.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Taxation

The company is exempt from corporation tax on its charitable activities.

Pensions

The company makes payments to a defined contribution pension scheme on behalf of certain staff. Contributions are charged to the Statement of Financial Activities as they fall due.

Legal status of the Trust

The Trust is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per Member of the charity.

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Foxfield Light Railway Society Limited (Limited by Guarantee)

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

2

Income from donations
Donations received
Legacies received		 2022
£
2021
£
4,799
27,195
-
71,551
4,799
98,746

The Trust is grateful for several small donations received throughout the year. The donation box in reception continues to be successful.

The Trust benefits greatly from the involvement and enthusiastic support of its many volunteers, details of which are given in our annual report. In accordance with accounting standards, the economic contribution of general volunteers is not measured in the accounts.

3

4

Income from charitable activities
Fares
Cream Teas
Driver & footplate experience
Santa specials
Other
Member subscriptions
Shop
Income from other trading activities
Rental income
Sale of scrap
Other income
Government grant		 2022
£
2021
£
25,851
22,112
7,006
3,214
-
-
135,771
99,017
33,800
14,723
4,069
3,114
10,033
6,290
216,530
148,470
2022
£
2021
£
6,957
6,985
1,549
1,938
397
(302)
-
-
8,903
8,621

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Foxfield Light Railway Society Limited (Limited by Guarantee)

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

5 Expenditure on charitable activities

5
Expenditure on charitable activities
Fares
Cream teas
Locomotives
Santa specials
Rolling stock
Events
Other
Fuel
Marketing
Shop purchases
6
Other expenditure incurred
Heat & light
Land & buildings
Admin wages & NIC
Bank charges
Profit/loss on sale of assets
Depreciation
Other admin costs
Bad debt write off
Audit & accountancy fee
Legal fees		 2022
£
2021
£
-
-
-
425
26,553
54,174
38,778
30,639
-
-
23,622
10,246
-
34
9,301
-
6,042
13,417
811
3,633
105,107
112,568
2022
£
2021
£
4,102
4,828
9,720
57,589
-
16,759
4,086
3,747
-
-
27,025
25,752
43,212
25,975
1,072
-
3,360
2,458
3,830
320
96,407
137,428

Page 17 of 19

Foxfield Light Railway Society Limited (Limited by Guarantee)

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

7 FIXED ASSETS

Freehold land
& buildings
£
Cost
As at 1 January 2022
456,889
Disposals
-
Additions
70,350
As at 31 December
2022
527,239
Depreciation
As at 1 January 2022
301,431
Charge for the year
11,290
As at 31 December
2022
312,721
Net Book Value
As at 31 December
2022
214,518
As at 31 December
2021
155,458		 Plant & Fixtures & Rolling
Equipment Fittings stock
Total
£
£
£
£
183,692
45,104
30,545
716,230
-
-
-
-
1,564
1,641
-
73,555
185,256
46,745
30,545
789,785
70,247
34,663
23,609
429,950
12,444
2,598
693
27,025
82,691
37,261
24,302
456,975
102,565
9,484
6,243
332,810
113,445
10,441
6,936
286,280

8 DEBTORS

Trade Debtor
VAT
Locomotive repair fund
Gift aid
Other debtors
9
CREDITORS: Amounts falling due within one year.
Accruals
Trade Creditors
Taxation and social security
Locomotive repair fund
Other creditors		 2022
£
4,190
10,080
14,927
-
-
29,197
2022
£
1,545
18,971
-
13,000
75
33,591		 2021
£
960
3,955
14,228
-
230
19,373
2021
£
1,470
9,501
-
13,000
75
24,046

Page 18 of 19

10 Creditors: Amounts falling due after one year.

Locomotive repair fund
Loans from members & directors
11
Analysis of net assets between unrestricted funds
Fixed Assets Current
Current
Assets
Liabilities
Unrestricted
Funds
332,810
329,047
(33,591)
__
_
___		 2022
£
105,929
-
105,929
Liabilities
Due After
One Year
(105,929)
__		 2021
£
99,302
-
99,302

Total



552,337

______

There is a surplus on unrestricted funds of £522,337 (2021 - £493,619) at the year end. Unrestricted funds comprise the funds which the Trustees are free to use in accordance with charitable objects.

12 Related party transactions

There have been no related party transactions in the year to 31 December 2022 (2021 – None).

Page 19 of 19