DocuSign Envelope ID: 82782E63-B1BD-452F-BB6F-14A3BA5B7085
COMPANY REGISTRATION NUMBER: 06519565 CHARITY REGISTRATION NUMBER: 1128024 & SCO45897
The Railway Mission Company Limited by Guarantee
Financial Statements
31 March 2022
Wyatt & Co
Chartered Accountants 125 Main Street Garforth Leeds LS25 1AF
DocuSign Envelope ID: 82782E63-B1BD-452F-BB6F-14A3BA5B7085
The Railway Mission
Company Limited by Guarantee
Financial Statements
Year Ended 31 March 2022
| Page | |
|---|---|
| Trustees' Annual Report (Incorporating the Director's Report) | 1 |
| Independent Auditor's Report to the Members | 8 |
| Statement of Financial Activities (Including Income and Expenditure | |
| Account) | 11 |
| Statement of Financial Position | 12 |
| Statement of Cash Flows | 13 |
| Notes to the Financial Statements | 14 |
| The Following Pages Do Not Form Part of the Financial Statements | |
| Detailed Statement of Financial Activities | 27 |
DocuSign Envelope ID: 82782E63-B1BD-452F-BB6F-14A3BA5B7085
The Railway Mission
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year Ended 31 March 2022
The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 March 2022.
Reference and Administrative Details
Registered charity name The Railway Mission Charity registration number 1128024 & SCO45897 Company registration number 06519565 Registered Office 125 Main Street Garforth Leeds LS25 1AF Principal Office Rugby Station Station Approach Rugby CV21 3LA Executive Director Rev. L. Johnston The Trustees B S P Brown K Rose (Retired 29 June 2021) J M Jaegar A J Newman (Retired 19 October 2021) Rev. R J Porter S J Hailes C J J Smith R M Westcott (Retired 28 June 2022) T J Hanham I S Ferguson A Volossevich (Chairman) (Appointed 29 June 2021) Company Secretary C J J Smith Auditor Alison Whalley Naylor Wintersgill Chartered Accountants & statutory auditor Carlton House Grammar School Street Bradford BD1 4NS Bankers Virgin Money 370 Harrogate Road Leeds LS17 6QA
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DocuSign Envelope ID: 82782E63-B1BD-452F-BB6F-14A3BA5B7085
The Railway Mission
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year Ended 31 March 2022
Barclays Leicester LE87 2BB Co-operative Bank 1 Balloon Street Manchester M60 4EP Solicitors Ellis-Fermor and Negus 2 Devonshire Avenue Beeston Nottinghamshire NG9 1BS
Structure, Governance and Management
Governing Document
The organisation is an incorporated charity which was registered as a company (No 06519565) on 29th February 2008 and as an incorporated charity (No. 1128024) on 12 February 2009. The charity was originally set up in 1881. It is operated under the terms of Memorandum and Articles of Association dated February 2008, last update accepted by Companies House and by the Charity Commission in June 2021. Railway Mission is registered as a cross-border charity in Scotland, registered number SC045897.
Recruitment and Appointment of Trustees
The Memorandum and Articles of Association (Articles 25 and 29) requires not less than 3 Trustees and requires one-third of Trustees to retire from office at each AGM, where they may seek re-appointment. In line with the NCVO code a nine-year cap on the term is now being introduced progressively.
The Trustee Handbook gives a clear job description and competence matrix for the role of trustee.
3 Trustees: Steve Hailes, Rachel Westcott and Tom Hanham are due to retire by rotation. All are eligible for re-election. At the June 2022 AGM it is intended that Steve Hailes be re-appointed under article 36 for 1 year until the June 2023 AGM, as at that point he reaches 9 years' service. After 5 years' service Rachel Westcott intends to retire at the June 2022 AGM.
1 Trustee: Barry Brown, who reached 9 years service in June 2019, will be approved to continue for another year until the June 2023 AGM via article 36. This was agreed at the Board in March 2022 and ratified at this AGM.
Currently, there are 9 Trustees, including the chairman. The board will be reviewing the size, structure and skillsets of the Board in line with its new Strategy, item 3.1.
Governance and Risk Management
Railway Mission has a Governance Policy and a management system in place. It has four Board committees that are delegated to review risks and policies within their area. Changes are then brought to the Board for approval, the Board retaining final responsibility for risk. The Board regularly monitors indicators of change to these risks.
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DocuSign Envelope ID: 82782E63-B1BD-452F-BB6F-14A3BA5B7085
The Railway Mission
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year Ended 31 March 2022
The Board has approved new and updated policies and procedures covering a wide range of personnel, data and other issues. In the last year, the Board has devised and approved a refreshed organisational Strategy and the Executive Director, with help from various Trustees, has revised the Business Plan in the light of the new Strategy.
Organisational Structure
The Trustees of Railway Mission meet at least 5 times a year and are responsible for the strategic direction and policy of the charity. The Executive Director also attends the Trustees Board but does not have any voting rights.
The Board has four committees that are delegated to act within a written scope, and make proposals to the Board, thus providing more time for the Board to focus on strategic issues. Currently, these are: Finance, Governance & Legal, Marketing & Fundraising, Personnel Pastoral & Training.
The chaplains' work is overseen by Railway Mission's Executive Director Rev. L Johnston, based at the Rugby office, who is overseen in this role by the Chair. A scheme of delegation is in place, and day-today responsibility for the provision of the Chaplaincy services rests with the Executive Director. The Remuneration of the Executive Director is set by the Trustees, and reviewed annually along with all employees.
The Executive Structure reporting to the Board is shown below:
Both the Administrator post and the Fundraising post are part time roles.
Related Parties
There are no related parties
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DocuSign Envelope ID: 82782E63-B1BD-452F-BB6F-14A3BA5B7085
The Railway Mission
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year Ended 31 March 2022
Objectives and Activities
The charitable objective of Railway Mission is "to propagate the Christian Gospel and preserve and protect mental and physical health primarily amongst railway and transport staff and also members of the public affected by railway operations, by all appropriate means".
The charity is Christian but serves people of all faiths and none.
Its objectives are met primarily through the provision of Railway Chaplains who work around England, Scotland and Wales, based in strategic locations on the railway system. This is supplemented by the provision of publications and other support services and by working with other organisations in the railway industry across Great Britain.
The Trustees have given due consideration to the Charity Commission's published guidance on the Public Benefit requirement under the Charities Act 2011. The main activities of the Charity are undertaken to further the Charity's purposes for the public benefit.
Achievements and Performance
At the end of March 2022 Railway Mission employed ten full-time, eight part-time chaplains and one volunteer chaplain. Our chaplains have an extensive schedule of visits, including stations, offices, control centres, signal boxes, and depots. The past year has seen our chaplains involved in personal support to both serving and retired railway staff and their families through bereavements, illness, redundancies, and a host of other issues including spiritual concerns. They also conduct various highprofile public events such as Remembrance services. Much of the ministry of the chaplains is at the invitation of rail managers; thus, demonstrating the continued appreciation of the industry for the pastoral support and care provided by the Chaplains. The significant level of suicides on the rail network is an area where the chaplains provide much support, something which is increasingly recognised and valued officially within the industry.
A system of "intervention" reporting by chaplains has allowed the collection of anonymised information to be presented to rail companies, demonstrating our involvement and support to their staff. This is key to maintaining and increasing their support for our work. Chaplaincy Support to the Railway Industry for January to December 2021, saw 8,727 people supported on a total of 10,778 occasions. This is a significant increase over the previous year when COVID restrictions had a negative impact on the amount of support that could be offered.
Network Groups which provide both support to Christians in the workplace and provide a prayer base for the local chaplain exist at a few locations, such as the large Network Rail offices at Milton Keynes and at Reading.
The COVID-19 pandemic has remained a significant challenge to our operations. Railway Mission has worked within the government and industry and guidelines. The Mission has continued to maximise the use of technology to enhance the reach of the chaplaincy service and the support offered.
Financial Review
The Trustees consider that the attached financial statements are satisfactory. The satisfactory financial position of the charity is in large measure due to the continued support of Network Rail and the Train Operating Companies for which we are very grateful.
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The Railway Mission
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year Ended 31 March 2022
Principal Funding Sources
The highest proportion of Railway Mission's income is received by way of direct donation from the Railway Operating Companies. Twenty two different companies have provided total donations of £407,760 (2020/21 £372,629). Support from individuals and related Gift Aid continue to provide significant funds, with around £49,402 (2020/21 £54,497) being received in this way.
In 2021/22 the Government's Coronavirus Job Retention Scheme provided an extra source of grants into the Railway Mission. By the year end, grants totalling £34,566 (2020/21 £168,202) had been received. Combined with the revaluation of the Nailsea property, and increase in investments, the budgeted deficit became a surplus for the year.
Notwithstanding this, our budget projections for future years show deficit budgets funded by our reserves. Assuming income growth targets that the Board believe achievable (noting that the Fundraising post is only temporarily filled), the aim is for a balanced budget by 2025/26, but the approved budget for 2022/23 has a deficit of £120,000.
Currently we have a substantial cash and property reserve, in excess of our reserves policy, and this allows us to live with these deficits in the short-term. If income increases in line with targets set (and with no increases in our operating costs), our cash reserve will decrease but it may not be necessary to sell the property (which would represent our operating and redundancy reserve). However, if we do not achieve any increases in income, the projection shows that it would be necessary to sell the property at Nailsea to convert its value into cash by April 2024.
The total reserves at the end of the financial year were £794,542 (2021 £715,186). Of which there were restricted funds of £1,164. (2021 £Nil). There are two designated funds, one for a maximum potential redundancy, should the charity have to close, which was £147,939 (2021 £133,682), which in the view of the trustees is unlikely to crystallise in the foreseeable future, and the other for the Chaplains Conference and training, which was £6,501 (2021 £6,501), which is likely to be utilised in the next 2 years. The free reserves after the restricted and designated funds including property are £638,938 (2021 £575,003). At the year end, the charity is meeting its reserves policy.
Investment Policy
Railway Mission invests capital not needed for monthly operations in various investment accounts, seeking a reasonable rate of return but with low risk. During this year these have included M&G Charifund and Virgin Money. The only property owned by Railway Mission (the house in Nailsea) is currently rented out. The trustees continue this in the short term as the rental income exceeds any interest obtainable on the value of the house. The review date for selling this property is currently during 2023.
Reserves Policy
The reserves policy is as follows: . .
Cash sufficient to meet day to day needs Available within 6 months - maximum of 50% of capital related assets Available within 12 months - maximum of 50% of capital related assets
The Board have ring-fenced £147,939 (2020,21 £133,682) from the reserves to cover redundancy payment liability in the event of closure. The Board is currently reviewing the Reserves policy.
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DocuSign Envelope ID: 82782E63-B1BD-452F-BB6F-14A3BA5B7085
The Railway Mission
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year Ended 31 March 2022
Donated goods and services
During the year, the charity received the use of an office at Rugby Station. This is not material to the accounts. The charity also receives free rail passes for all chaplains and trustees when travelling on Railway Mission business. It is not possible to quantify the value of the rail passes utilised during the year.
Plans for Future Periods
Achievement of sustainable finances is the key focus for the Board, and there will be a continued focus on raising the profile and support for Railway Mission both within and outside the industry. The creation, approval and implementation of a fundraising strategy is key to this in the coming year.
No major changes to chaplain numbers are currently planned. There are vacancies within the chaplaincy posts but there are ongoing plans to fill these.
With the easing of COVID restrictions chaplaincy has returned to face-to-face work, but the experience of having to use digital communications during the past two years will have a lasting effect on our ministry as we learn to use a better mix of the physical and the virtual.
The Williams-Shapps report proposes many changes to the rail industry model with the creation of Great British Railways, but it is too early to comment on any effect on funding and the longer-term shape of our work.
Trustees' Responsibilities Statement
The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period.
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the applicable Charities SORP;
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make judgments and accounting estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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The Railway Mission
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year Ended 31 March 2022
Auditor
In accordance with the company’s articles, a resolution proposing that Naylor Wintersgill Limited be re-appointed as auditor of the company will be put at a General Meeting.
Disclosure of information to auditor
Each of the Trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken all appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.
Small Company Provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 15 November 2022 and signed on behalf of the board of trustees by:
C J J Smith Charity Secretary
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The Railway Mission
Company Limited by Guarantee
Independent Auditor's Report to the Members of The Railway Mission (Continued)
Year Ended 31 March 2022
Opinion
We have audited the financial statements of The Railway Mission (the ‘Charity’) for the year ended 31 March 2022 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
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give a true and fair view of the state of the charitable company's affairs as at 31 March 2022 and of its incoming resources and application of resources, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended).
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
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DocuSign Envelope ID: 82782E63-B1BD-452F-BB6F-14A3BA5B7085
The Railway Mission
Company Limited by Guarantee
Independent Auditor's Report to the Members of The Railway Mission (Continued)
Year Ended 31 March 2022
Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 and the Charities Accounts (Scotland) Regulations 2006 (as amended) require us to report to you if, in our opinion:
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the information given in the financial statements is inconsistent in any material respect with the Trustees' report; or
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sufficient and proper accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of Trustees
As explained more fully in the statement of Trustees' responsibilities, the Trustees, who are also the directors of the Charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and report in accordance with the Acts and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
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DocuSign Envelope ID: 82782E63-B1BD-452F-BB6F-14A3BA5B7085
The Railway Mission
Company Limited by Guarantee
Independent Auditor's Report to the Members of The Railway Mission (continued)
Year Ended 31 March 2022
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:
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·Discussions with directors including consideration of known or suspected instances of non-compliance with laws and regulation and fraud;
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Reviewing relevant meeting minutes;
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Reviewing of correspondence in so far as they related to non-compliance with laws and regulations and fraud;
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Procedures relating to the recognition of income;
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Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations, posted on unusual days, posted by infrequent users, posted by senior management or posted with descriptions indicating a higher level of risk;
There are inherent limitations in the audit procedures described above and the further removed non-·compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Other matters
The financial statements of the Charity for the year ended 31 March 2020 were not audited.
Use of our report
This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008 and regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Alison Whalley (Senior Statutory Auditor) for and on behalf of Naylor Wintersgill Limited 15 November 2022 Chartered Accountants Statutory Auditor Carlton House Grammar School Street Bradford BD1 4NS
Naylor Wintersgill Limited is eligible for appointment as auditor of the Charity by virtue of its eligibility for appointment as auditor of a company under of section 1212 of the Companies Act 2006.
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DocuSign Envelope ID: 82782E63-B1BD-452F-BB6F-14A3BA5B7085
The Railway Mission
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year Ended 31 March 2022
| Year Ended 31 March 2022 | |||||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| Unrestricted | Restricted | Unrestricted | |||
| funds | funds | Total funds | funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | 510,235 | 2,500 | 512,735 | 624,454 |
| Investment income | 6 | 15,068 | – | 15,068 | 14,595 |
| ------------------------------------- | -------------------------- | ------------------------------------- | ------------------------------------- | ||
| Total income | 525,303 | 2,500 | 527,803 | 639,049 | |
| ===================================== | ========================== | ===================================== | ===================================== | ||
| Expenditure | |||||
| Expenditure on raising funds: | |||||
| Costs of raising donations and | |||||
| legacies | 7 | 23,803 | 1,336 | 25,139 | 4,222 |
| Expenditure on charitable activities | 8,9 |
499,627 | – | 499,627 | 490,325 |
| Other expenditure | 11 | 2,162 | – | 2,162 | 2,675 |
| ------------------------------------- | -------------------------- | ------------------------------------- | ------------------------------------- | ||
| Total expenditure | 525,592 | 1,336 | 526,928 | 497,222 | |
| ===================================== | ========================== | ===================================== | ===================================== | ||
| Net gains on investments | 12 | 78,481 | – | 78,481 | 8,984 |
| ------------------------------------- | -------------------------- | ------------------------------------- | ------------------------------------- | ||
| Net income and net movement in | funds | 78,192 | 1,164 | 79,356 | 150,811 |
| ===================================== | ========================== | ===================================== | ===================================== | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 715,186 | – | 715,186 | 564,375 | |
| ------------------------------------- | -------------------------- | ------------------------------------- | ------------------------------------- | ||
| Total funds carried forward | 793,378 | 1,164 | 794,542 | 715,186 | |
| ===================================== | ========================== | ===================================== | ===================================== |
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 14 to 25 form part of these financial statements.
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DocuSign Envelope ID: 82782E63-B1BD-452F-BB6F-14A3BA5B7085
The Railway Mission
Company Limited by Guarantee
Statement of Financial Position
31 March 2022
| 31 March 2022 | ||||
|---|---|---|---|---|
| 2022 | 2021 | |||
| Note | £ | £ | £ | |
| Fixed Assets | ||||
| Tangible fixed assets | 17 | 7,678 | 10,238 | |
| Investments | 18 | 451,246 | 372,765 | |
| ------------------------------------- | ------------------------------------- | |||
| 458,924 | 383,003 | |||
| Current Assets | ||||
| Debtors | 19 | – | 14,879 | |
| Cash at bank and in hand | 363,254 | 346,185 | ||
| ------------------------------------- | ------------------------------------- | |||
| 363,254 | 361,064 | |||
| Creditors: amounts falling due within one year | 20 | 27,636 | 28,881 | |
| ------------------------------------- | ------------------------------------- | |||
| Net Current Assets | 335,618 | 332,183 | ||
| ------------------------------------- | ------------------------------------- | |||
| Total Assets Less Current Liabilities | 794,542 | 715,186 | ||
| ------------------------------------- | ------------------------------------- | |||
| Net Assets | 794,542 | 715,186 | ||
| ===================================== | ===================================== | |||
| Funds of the Charity | ||||
| Restricted funds | 1,164 | – | ||
| Designated funds | 154,440 | 140,183 | ||
| Unrestricted funds | 638,938 | 575,003 | ||
| ------------------------------------- | ------------------------------------- | |||
| Total charity funds | 23 | 794,542 | 715,186 | |
| ===================================== | ===================================== |
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 15 November 2022, and are signed on behalf of the board by:
A Volossevich Trustee and Chairman
The notes on pages 14 to 25 form part of these financial statements.
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DocuSign Envelope ID: 82782E63-B1BD-452F-BB6F-14A3BA5B7085
The Railway Mission
Company Limited by Guarantee
Statement of Cash Flows
Year Ended 31 March 2022
| Year Ended 31 March 2022 | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Cash Flows from Operating Activities | ||
| Net income | 79,356 | 150,811 |
| Adjustments for: | ||
| Depreciation of tangible fixed assets | 2,560 | 1,806 |
| Government grant income | (34,566) | (168,202) |
| Net gains on investments | (78,481) | (8,984) |
| Dividends, interest and rents from investments | (14,733) | (13,992) |
| Other interest receivable and similar income | (335) | (603) |
| Interest payable and similar charges | 739 | 728 |
| Accrued expenses | 510 | 4,645 |
| Changes in: | ||
| Trade and other debtors | 14,879 | (14,879) |
| Trade and other creditors | (1,755) | 2,053 |
| ------------------------------- | ------------------------------------- | |
| Cash generated from operations | (31,826) | (46,617) |
| Interest paid | (739) | (728) |
| Interest received | 335 | 603 |
| ------------------------------- | ------------------------------- | |
| Net cash used in operating activities | (32,230) | (46,742) |
| =============================== | =============================== | |
| Cash Flows from Investing Activities | ||
| Dividends, interest and rents from investments | 14,733 | 13,992 |
| Purchase of tangible assets | – | (9,382) |
| ------------------------------- | ------------------------------- | |
| Net cash from investing activities | 14,733 | 4,610 |
| =============================== | =============================== | |
| Cash Flows from Financing Activities | ||
| Government grant income | 34,566 | 168,202 |
| ------------------------------- | ------------------------------------- | |
| Net cash from financing activities | 17,069 | 126,070 |
| =============================== | ===================================== | |
| Net Increase in Cash and Cash Equivalents | 17,069 | 126,070 |
| Cash and Cash Equivalents at Beginning of Year | 346,185 | 220,115 |
| ------------------------------------- | ------------------------------------- | |
| Cash and Cash Equivalents at End of Year | 363,254 | 346,185 |
| ===================================== | ===================================== |
The notes on pages 14 to 25 form part of these financial statements.
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DocuSign Envelope ID: 82782E63-B1BD-452F-BB6F-14A3BA5B7085
The Railway Mission
Company Limited by Guarantee
Notes to the Financial Statements
Year Ended 31 March 2022
1. General Information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England, Wales and Scotland. The address of the registered office is 125 Main Street, Garforth, Leeds, LS25 1AF.
2. Statement of Compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011, Charities and Trustee Investment (Scotland) Act 2005 and the Charity Accounts (Scotland) Regulations 2006 (as amended).
3. Accounting Policies
Redundancy and Termination Payments
Where redundancies take place during an accounting period, the cost of the redundancy and payment in lieu of notice are accounted for when the payments are processed through the payroll, and the employment ceases.
Basis of Preparation
a. Incoming Resources
All incoming resources are included in the Statement of Financial Activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income.
Voluntary income is received by way of donations and gifts and is included within the Statement of Financial Activities when received. Legacies are included within the Statement of Financial Activities when received. Investment income is included when received.
b. Resources Expended
Resources expended are recognised in the period in which they are incurred and include attributable VAT which cannot be recovered. Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be recovered, and is shown as part of the expenditure to which it relates.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes those costs that can be directly attributed to such activities as well as those costs of an indirect nature necessary to support them. Governance costs include those costs associated with the meeting of constitutional and statutory requirements of the charity, and include the audit fees.
- 14 -
DocuSign Envelope ID: 82782E63-B1BD-452F-BB6F-14A3BA5B7085
The Railway Mission
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year Ended 31 March 2022
3. Accounting Policies (continued)
Going Concern
There are no material uncertainties about the charity's ability to continue.
Fund Accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming Resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
- 15 -
DocuSign Envelope ID: 82782E63-B1BD-452F-BB6F-14A3BA5B7085
The Railway Mission
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year Ended 31 March 2022
3. Accounting Policies (continued)
Resources Expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible Assets
Tangible assets in excess of £2,000 are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Office equipment
- 15% to 25% Reducing balance
Investments
Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.
- 16 -
DocuSign Envelope ID: 82782E63-B1BD-452F-BB6F-14A3BA5B7085
The Railway Mission
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year Ended 31 March 2022
Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.
Impairment of Fixed Assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Government Grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received.
Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Defined Contribution Plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. Limited by Guarantee
The company is limited by guarantee and not having a share capital. It is also a registered charity.
- 17 -
DocuSign Envelope ID: 82782E63-B1BD-452F-BB6F-14A3BA5B7085
The Railway Mission
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year Ended 31 March 2022
5. Donations and Legacies
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Donations | |||
| Supporter and church donations | 45,127 | – | 45,127 |
| Railway company donations | 407,760 | – | 407,760 |
| Trust companies | 9,098 | 2,500 | 11,598 |
| Income tax refunds | 4,275 | – | 4,275 |
| Donations for calendars | 2,599 | – | 2,599 |
| Donations for Christmas cards | 610 | – | 610 |
| Grants | |||
| Government grant income (Covid grants) | 34,566 | – | 34,566 |
| Sponsorship | |||
| Sponsorship and fund raising events | 5,326 | – | 5,326 |
| Other Donations and Legacies | |||
| Legacies and memorials | 874 | – | 874 |
| ------------------------------------- | -------------------------- | ------------------------------------- | |
| 510,235 | 2,500 | 512,735 | |
| ===================================== | ========================== | ===================================== | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Donations | |||
| Supporter and church donations | 48,510 | – | 48,510 |
| Railway company donations | 372,629 | – | 372,629 |
| Trust companies | 6,971 | – | 6,971 |
| Income tax refunds | 5,988 | – | 5,988 |
| Donations for calendars | 2,304 | – | 2,304 |
| Donations for Christmas cards | 311 | – | 311 |
| Grants | |||
| Government grant income (Covid grants) | 168,202 | – | 168,202 |
| Sponsorship | |||
| Sponsorship and fund raising events | 5,061 | – | 5,061 |
| Other Donations and Legacies | |||
| Legacies and memorials | 14,478 | – | 14,478 |
| ------------------------------------- | ---------------- | ------------------------------------- | |
| 624,454 | – | 624,454 | |
| ===================================== | ================ | ===================================== |
- 18 -
DocuSign Envelope ID: 82782E63-B1BD-452F-BB6F-14A3BA5B7085
The Railway Mission
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year Ended 31 March 2022
6. Investment Income
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 | ||
| £ | £ | £ | £ | ||
| Rent | 12,300 | 12,300 | 11,900 | 11,900 | |
| Charifund investment income | 2,433 | 2,433 | 2,092 | 2,092 | |
| Bank interest receivable | 335 | 335 | 603 | 603 | |
| ------------------------------- | ------------------------------- | ------------------------------- | ------------------------------- | ||
| 15,068 | 15,068 | 14,595 | 14,595 | ||
| =============================== | =============================== | =============================== | =============================== | ||
| 7. | Costs of Raising Donations and | Legacies |
| Unrestricted | Restricted | Total Funds | |||
|---|---|---|---|---|---|
| Funds | Funds | 2022 | |||
| £ | £ | £ | |||
| Costs of raising donations and legacies | |||||
| -Calendars, newsletters, fundraisers and Will Writing | 23,803 | 1,336 | 25,139 | ||
| =============================== | ========================== | =============================== | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2021 | |||
| £ | £ | £ | |||
| Costs of raising donations and legacies | |||||
| – Calendars and Newsletters | 4,222 | – | 4,222 | ||
| ========================== | ================ | ========================== | |||
| 8. | Expenditure on Charitable Activities by Fund Type | ||||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2022 | |||
| £ | £ | £ | |||
| Provision of Chaplains Services | 469,862 | – | 469,862 | ||
| Support costs | 29,765 | – | 29,765 | ||
| ------------------------------------- | ---------------- | ------------------------------------- | |||
| 499,627 | – | 499,627 | |||
| ===================================== | ================ | ===================================== | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2021 | |||
| £ | £ | £ | |||
| Provision of Chaplains Services | 458,955 | – | 458,955 | ||
| Support costs | 31,370 | – | 31,370 | ||
| ------------------------------------- | ------------------------------------- | ------------------------------------- | |||
| 490,325 | – | 490,325 | |||
| ===================================== | ===================================== | ===================================== | |||
| 9. | Expenditure on Charitable Activities by Activity Type | ||||
| Activities | |||||
| undertaken | Total funds | Total fund | |||
| directly Support costs | 2022 | 2021 | |||
| £ | £ | £ | £ | ||
| Provision of Chaplains Services | 469,862 | – | 469,862 | 458,955 | |
| Support Costs | – | 29,765 | 29,765 | 31,370 | |
| ------------------------------------- | ------------------------------- | ------------------------------------- | ------------------------------------- | ||
| 469,862 | 29,765 | 499,627 | 490,325 | ||
| ===================================== | =============================== | ===================================== | ===================================== |
- 19 -
DocuSign Envelope ID: 82782E63-B1BD-452F-BB6F-14A3BA5B7085
The Railway Mission
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year Ended 31 March 2022
10. Analysis of Support Costs
| Analysis of | |||||
|---|---|---|---|---|---|
| support costs | Total 2022 | Total 2021 | |||
| £ | £ | £ | |||
| Staff costs | 12,565 | 12,565 | 14,287 | ||
| Depreciation | 2,560 | 2,560 | 1,809 | ||
| Audit and accountancy | 10,742 | 10,742 | 7,057 | ||
| Governance costs | 234 | 234 | 234 | ||
| Support costs: Governance | 85 | 85 | 4,399 | ||
| Office costs | 2,877 | 2,877 | 3,524 | ||
| Trustees training | 90 | 90 | 60 | ||
| Reimbursement of Trustees expenses | 612 | 612 | – | ||
| ------------------------------- | ------------------------------- | ------------------------------- | |||
| 29,765 | 29,765 | 31,370 | |||
| =============================== | =============================== | =============================== | |||
| 11. | Other Expenditure | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2022 | Funds | 2021 | ||
| £ | £ | £ | £ | ||
| Property costs | 2,162 | 2,162 | 2,675 | 2,675 | |
| ========================== | ========================== | ========================== | ========================== | ||
| 12. | Net Gains on Investments | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2022 | Funds | 2021 | ||
| £ | £ | £ | £ | ||
| Gains on investment property | 75,000 | 75,000 | – | – | |
| Gains on listed investments | 3,481 | 3,481 | 8,984 | 8,984 | |
| ------------------------------- | ------------------------------- | -------------------------- | -------------------------- | ||
| 78,481 | 78,481 | 8,984 | 8,984 | ||
| =============================== | =============================== | ========================== | ========================== | ||
| 13. | Net Income | ||||
| Net income is stated after charging/(crediting): | |||||
| 2022 | 2021 | ||||
| £ | £ | ||||
| Depreciation of tangible fixed assets | 2,560 | 1,806 | |||
| ========================== | ========================== | ||||
| 14. | Auditors Remuneration | ||||
| 2022 | 2021 | ||||
| £ | £ | ||||
| Fees payable for the audit of the financial statements | 3,450 | 3,540 | |||
| ========================== | ========================== |
- 20 -
DocuSign Envelope ID: 82782E63-B1BD-452F-BB6F-14A3BA5B7085
The Railway Mission
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year Ended 31 March 2022
15. Staff Costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 406,834 | 406,041 |
| Social security costs | 29,322 | 28,199 |
| Employer contributions to pension plans | 8,474 | 8,283 |
| Recruitment costs | 2,740 | 320 |
| ------------------------------------- | ------------------------------------- | |
| 447,370 | 442,843 | |
| ===================================== | ===================================== |
During the 2020 year, three members of staff were made redundant. The total amount paid in redundancy and payment in lieu of notice was £34,750
The average head count of employees during the year was 20 (2021: 20). The average number of full-time equivalent employees during the year is analysed as follows:
| 2022 | 2021 | |
|---|---|---|
| No. | No. | |
| Number of Chaplaincy Service staff | 19 | 18 |
| Number of management and administration | 1 | 2 |
| ---------------- | ---------------- | |
| 20 | 20 | |
| ================ | ================ |
No employee received employee benefits of more than £60,000 during the year (2021: Nil).
Key Management Personnel
The total employee benefits of the key management personnel was £51,076. (2021 £50,600)
16. Trustee Remuneration, Expenses and Related Parties
No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the year (2021 - £Nil)
No members of the Trustee group received remuneration during the year. Out of pocket postage, telephone and travel / accommodation expenses were reimbursed to 1 (2021: none) trustees to the value of £612 (2021 £Nil)
In aggregate, Trustees made donations to the charity of £950 (2021 £1,850)
- 21 -
DocuSign Envelope ID: 82782E63-B1BD-452F-BB6F-14A3BA5B7085
The Railway Mission
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year Ended 31 March 2022
17. Tangible Fixed Assets
| Tangible Fixed Assets | |
|---|---|
| Fixtures and | |
| fittings | |
| £ | |
| Cost | |
| At 1 April 2021 and 31 March 2022 | 23,680 |
| =============================== | |
| Depreciation | |
| At 1 April 2021 | 13,442 |
| Charge for the year | 2,560 |
| ------------------------------- | |
| At 31 March 2022 | 16,002 |
| =============================== | |
| Carrying amount | |
| At 31 March 2022 | 7,678 |
| =============================== | |
| At 31 March 2021 | 10,238 |
| =============================== |
18. Investments
| Listed | Investment | ||
|---|---|---|---|
| investments | properties | Total | |
| £ | £ | £ | |
| Cost or valuation | |||
| At 1 April 2021 | 47,765 | 325,000 | 372,765 |
| Additions | – | – | – |
| Fair value movements | – | 75,000 | 75,000 |
| Other movements | 3,481 | – | 3,481 |
| ------------------------------- | ------------------------------------- | ------------------------------------- | |
| At 31 March 2022 | 51,246 | 400,000 | 451,246 |
| =============================== | ===================================== | ===================================== | |
| Impairment | |||
| At 1 April 2021 and 31 March 2022 | – | ||
| ===================================== | |||
| Carrying amount | |||
| At 31 March 2022 | 51,246 | 400,000 | 451,246 |
| =============================== | ===================================== | ===================================== | |
| At 31 March 2021 | 47,765 | 325,000 | 372,765 |
| =============================== | ===================================== | ===================================== |
All investments shown above are held at valuation.
Investment properties
The fair value of the investment property has been arrived at on the basis of a valuation carried out on 7th June 2022 by Westcoast Properties, who are not connected with the Charity. The valuation was made on an open market value basis. The Trustees do not consider the value of the property have changed since this date.
Financial assets held at fair value
The listed investments are shown at open market value at the year end.
- 22 -
DocuSign Envelope ID: 82782E63-B1BD-452F-BB6F-14A3BA5B7085
The Railway Mission
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year Ended 31 March 2022
19. Debtors
| 19. | Debtors | ||
|---|---|---|---|
| 2022 | 2021 | ||
| £ | £ | ||
| Other debtors | – | 14,879 | |
| ================ | =============================== | ||
| 20. | Creditors: amounts falling due within one year | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Accruals and deferred income | 17,970 | 17,460 | |
| Social security and other taxes | 7,947 | 9,524 | |
| Other creditors | 1,719 | 1,897 | |
| ------------------------------- | ------------------------------- | ||
| 27,636 | 28,881 | ||
| =============================== | =============================== |
21. Pensions and Other Post Retirement Benefits
Defined contribution plans
The Charity operates a defined contribution pension scheme for the benefit of its employees. At 31[st] March 2022 £1,719 (2021 £1,897) was included in other creditors in respect of the scheme. The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £8,574 (2021: £8,283).
22. Government Grants
The amounts recognised in the financial statements for government grants are as follows:
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Recognised in income from donations and legacies: | ||
| Government grants income | 34,566 | 168,202 |
| =============================== | ===================================== |
The Charity was in receipt of Government grants of £34,566 (2021 £168,202). These were received as part of the Government's Covid-19 financial support, in the form of the Job Retention Scheme.
23. Analysis of Charitable Funds
Unrestricted funds
| At | Gains and | At |
||||
|---|---|---|---|---|---|---|
| 1 Apr 2021 | Income | Expenditure | Transfers | losses | 31 Mar 2022 |
|
| £ | £ | £ | £ | £ | £ | |
| General funds | 575,003 | 525,303 | (525,592) |
(14,257) | 78,481 | 638,938 |
| Designated funds | ||||||
| Redundancy fund | 133,682 | – | – |
14,257 | – | 147,939 |
| Chaplains | ||||||
| Conferences fund | 6,501 | – | – |
– | – | 6,501 |
| ------------------------------------- | ------------------------------------- | ------------------------------------- | ------------------------------- | ------------------------------- | ------------------------------------- | |
| 140,183 | – | – |
14,257 | – | 154,440 |
|
| ______ | ______ | ______ |
______ | ______ | ______ |
|
| 715,186 | 525,303 | (525,592) |
– | 78,481 | 793,378 |
|
| ===================================== | ===================================== | ===================================== | =============================== | =============================== | ===================================== |
- 23 -
DocuSign Envelope ID: 82782E63-B1BD-452F-BB6F-14A3BA5B7085
The Railway Mission
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year Ended 31 March 2022
Analysis of Charitable Funds continued
| At | Gains and | At |
||||
|---|---|---|---|---|---|---|
| 1 Apr 2020 | Income | Expenditure | Transfers | losses | 31 Mar 2021 |
|
| £ | £ | £ | £ | £ | £ | |
| General funds | 446,909 | 639,049 | (497,222) |
(22,717) | 8,984 | 575,003 |
| Designated funds | ||||||
| Redundancy fund | 115,000 | – | – |
18,682 | – | 133,682 |
| Chaplains | ||||||
| Conferences fund | 2,466 | – | – |
4,035 | – | 6,501 |
| ------------------------------------- | ------------------------------------- | ------------------------------------- | ------------------------------- | -------------------------- | ------------------------------------- | |
| 117,466 | 22,717 | 140,183 | ||||
| ______ | ______ | ______ |
______ | ______ | ______ |
|
| 564,375 | 639,049 | (497,222) |
– | 8,984 | 715,186 |
|
| ===================================== | ===================================== | ===================================== | =============================== | ========================== | ===================================== | |
| Restricted funds | ||||||
| At | Gains and | At |
||||
| 1 Apr 2021 | Income | Expenditure | Transfers | losses | 31 Mar 2022 |
|
| £ | £ | £ | £ | £ | £ | |
| RROS – will | ||||||
| writing | – | 2,500 | (1,336) |
– | – | 1,164 |
| ================ | ========================== | ========================== | ================ | ================ | ========================== |
Restricted funds
The donation from the Retired Railway Officers Society (RROS) for the writing of wills to encourage donations by way of legacies, is expected to be spent within 12 to 24 months.
| At | Gains and | At | |||||
|---|---|---|---|---|---|---|---|
| 1 | Apr | 2020 | Income | Expenditure | Transfers | losses | 31 Mar 2021 |
| £ | £ | £ | £ | £ | £ | ||
| – | – | – |
– | – | – | ||
| ================ | ================ | ===================================== | ================ | ================ | ===================================== |
24. Analysis of Net Assets Between Funds
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Tangible fixed assets | 7,678 | – | 7,678 |
| Investment property | 400,000 | – | 400,000 |
| Investments | 51,246 | – | 51,246 |
| Current assets | 362,090 | 1,164 | 363,254 |
| Creditors less than 1 year | (27,636) | – | (27,636) |
| ------------------------------------- | -------------------------- | ------------------------------------- | |
| Net assets | 793,378 | 1,164 | 794,542 |
| ===================================== | ========================== | ===================================== |
- 24 -
DocuSign Envelope ID: 82782E63-B1BD-452F-BB6F-14A3BA5B7085
The Railway Mission
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year Ended 31 March 2022
Analysis of Net Assets Between Funds continued
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Tangible fixed assets | 10,238 | – | 10,238 |
| Investment property | 325,000 | – | 325,000 |
| Investments | 47,765 | – | 47,765 |
| Current assets | 361,064 | – | 361,064 |
| Creditors less than 1 year | (28,881) | – | (28,881) |
| ------------------------------------- | ---------------- | ------------------------------------- | |
| Net assets | 715,186 | – | 715,186 |
| ===================================== | ================ | ===================================== |
25. Analysis of Changes in Net Debt
| Analysis of Changes in Net Debt | ||||
|---|---|---|---|---|
| At | At | |||
| 1 | Apr 2021 | Cash flows | 31 Mar 2022 | |
| £ | £ | £ | ||
| Cash at bank and in hand | 346,185 | 17,069 | 363,254 | |
| ===================================== | =============================== | ===================================== |
- 25 -
DocuSign Envelope ID: 82782E63-B1BD-452F-BB6F-14A3BA5B7085
The Railway Mission
Company Limited by Guarantee
Management Information
Year Ended 31 March 2022
The Following Pages Do Not Form Part of the Financial Statements.
- 26 -
DocuSign Envelope ID: 82782E63-B1BD-452F-BB6F-14A3BA5B7085
The Railway Mission
Company Limited by Guarantee
Notes to the Detailed Statement of Financial Activities (continued)
Year Ended 31 March 2022
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Supporter and church donations | 45,127 | 48,510 |
| Railway company donations | 407,760 | 372,629 |
| Trust companies | 11,598 | 6,971 |
| Income tax refunds | 4,275 | 5,988 |
| Donations for calendars | 2,599 | 2,304 |
| Donations for Christmas cards | 610 | 311 |
| Government grant income (Covid grants) | 34,566 | 168,202 |
| Sponsorship and fund raising events | 5,326 | 5,061 |
| Legacies and memorials | 874 | 14,478 |
| ------------------------------------- | ------------------------------------- | |
| 512,735 | 624,454 | |
| ------------------------------------- | ------------------------------------- | |
| Investment income | ||
| Rent | 12,300 | 11,900 |
| Charifund investment income | 2,433 | 2,092 |
| Bank interest receivable | 335 | 603 |
| ------------------------------- | ------------------------------- | |
| 15,068 | 14,595 | |
| ------------------------------- | ------------------------------- | |
| ------------------------------------- | ------------------------------------- | |
| Total income | 527,803 | 639,049 |
| ===================================== | ===================================== | |
| Expenditure | ||
| Costs of raising donations and legacies - Donations | ||
| Calendars | 3,432 | 1,731 |
| Newsletters | 4,377 | 2,491 |
| Fundraising events | 1,798 | – |
| Fundraiser salary and agency cover | 15,532 | – |
| ------------------------------- | -------------------------- | |
| 25,139 | 4,222 | |
| ------------------------------- | -------------------------- | |
| ------------------------------- | -------------------------- | |
| Costs of raising donations and legacies | 25,139 | 4,222 |
| =============================== | ========================== | |
| Expenditure on charitable activities | ||
| Provision of Chaplains Services | ||
| Activities undertaken directly | ||
| Staff salaries | 402,049 | 392,505 |
| Employers National Insurance | 29,186 | 27,667 |
| Pension costs | 8,501 | 8,064 |
| Recruitment costs | 2,740 | 320 |
| Insurance | 8,989 | 8,989 |
| Staff travel and expenses | 814 | 2,435 |
| Telephone | 11,347 | 11,576 |
| Conferences seminars and training | 500 | 110 |
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DocuSign Envelope ID: 82782E63-B1BD-452F-BB6F-14A3BA5B7085
The Railway Mission
Company Limited by Guarantee
Notes to the Detailed Statement of Financial Activities (continued)
Year Ended 31 March 2022
| Year Ended 31 March 2022 | ||
|---|---|---|
| Subscriptions | 975 | 470 |
| Sundry expenses | 956 | 419 |
| Publicity and advertising | 3,805 | 6,400 |
| ------------------------------------- | ------------------------------------- | |
| 469,862 | 458,955 | |
| ------------------------------------- | ------------------------------------- | |
| Support Costs | ||
| Salaries and wages | 4,785 | 13,536 |
| Employer's NIC | 136 | 532 |
| Pension costs | 73 | 219 |
| Administrator - agency cover | 7,571 | – |
| Accountancy fees | 7,202 | 7,057 |
| Audit fees | 3,540 | – |
| Legal and professional fees | 234 | 234 |
| Reimbursement of trustees expenses | 612 | – |
| Depreciation | 2,560 | 1,809 |
| Bank charges | 739 | 728 |
| Staff expenses | 371 | – |
| Administration and office costs | 1,767 | 2,796 |
| Governance costs | 85 | 4,399 |
| Trustees training | 90 | 60 |
| ------------------------------- | ------------------------------- | |
| 29,765 | 31,370 | |
| ------------------------------- | ------------------------------- | |
| ------------------------------------- | ------------------------------------- | |
| Expenditure on charitable activities | 499,627 | 490,325 |
| ===================================== | ===================================== | |
| Other expenditure | ||
| Property costs | 2,162 | 2,675 |
| -------------------------- | -------------------------- | |
| ------------------------------------- | ------------------------------------- | |
| Total expenditure | 526,928 | 497,222 |
| ===================================== | ===================================== | |
| Net gains on investments | ||
| Gains/(losses) on investment property | 75,000 | – |
| Gains/(losses) on listed investments | 3,481 | 8,984 |
| ------------------------------------- | ------------------------------------- | |
| 78,481 | 8,984 | |
| ------------------------------------- | ------------------------------------- | |
| ------------------------------- | ------------------------------------- | |
| Net income | 79,356 | 150,811 |
| =============================== | ===================================== |
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