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2021-12-31-accounts

PAGE
Trustees'
annual
report (incorporating		 the director's report)
Independent auditor's
report to the		 members 10
Consolidated Statement offinancial activities (including income and
expenditure account) 15
Consolidated Statement offinancial position 16
Charitable
Company
Statement offinancial		 position 17
Statement ofcash flows 18
Notes to the consolidated financial statements 19

2021 2020
Unrcstricted Restricted
funds funds Total funds Total funds
Note
Income and endowments
Donations
and legacies		 5 802,881 802,881 791,62l
Charitable
activities		 6 96(,074 961,074 521,785
Other trading activities 7 468,861 468,861 178,549
investment
inconie		 8 4„630 4,630 65,704
Total income 2,237,446 2,237,446 1,557,659
Expenditure
Expenditure
on raising funds:
Costs ofother trading activities 9 263,506 263,506 264,495
Expenditure
on charitable		 activities 10,11 l,623,798 1,623,798 1,113,930
Taxation 13 (19,873) (19,873) 229,377
Total expenditure 1,867,43 I 1,867,431 1,607,802
Net income/(expenditure) and net
niovement
in funds		 370,015 370,015 (50,143)
Reconciliation
offunds
Total funds brought fonvard 4,627,454 5,692 4,633,146 4,683,289
Total funds carried forward 4,997,469 5,692 5,003,161 4,633,146

2021 2020
Note
FIXEDASSETS
Intangible
assets		 19 36,667
Tangible fixed assets 20 4,201,838 4,348,243
4,201,838 4,384,910
CURRENT ASSETS
Stocks 22 48,123 73,735
Debtors 23 73,465 123,631
Cash at bank and in hand 1,264,198 654,281
1,385,786 851,647
CREDITORS: amounts falling due
within
one year		 24 193,249 206,384
NET CURRENT ASSETS 1,192,537 645,263
TOTAL ASSETS LESS CURRENT
LIABILITIES 5,394,375 5,030,173
CREDITORS: amounts falling due
after more than one year 25 181,710 169,675
PROVISIONS 209,504 227,352
NET ASSETS 5,003,161 4,633,146
FUNDS OFTHE CHARITY
Restricted
funds		 5,692 5,692
Unrestricted
funds		 4,997,469 4,627,454
Total charity funds 30 5,003,161 4,633,146

2021 2020
Note
FIXEDASSETS
Tangible fixed assets 20 2,189,290 2,254,086
Investments 21 1,857,183 1,857,183
4,064,473 4, ]11,269
CURRENT ASSETS
Debtors 23 700,242 286,520
Cash at bank and in hand 780,773 496,469
1,481,015 783,019
CREDITORS: amounts falling due
within
one year		 24 41,629 29,605
NET CURRENT ASSETS 1,493,386 752,414
TOTAL ASSETSLESS CURRENT
LIABILITIES 5,485,859 4,864,683
NET ASSETS 5,485,859 4,864,683
FUNDS OFTHE CHARITY
Restricted funds 5,692 5,692
Unrestricted
iimds		 5,480,167 4,858,831
Total charity funds 30 5,485,859 4,864,683

2021 2020
8
CASH FLOWS FROM OPERATING ACTIVITIES
Net income j(expenditure) 370,015 (50, 143'1
Adj»stme»ts for:
Depreciation oftangible fixed assets 215,060 191,497
Impairment
oftangible
fixed assets		 121,462
Amortisation
ofintangible
assets		 3,333
Impairment
ofintangible		 assets 36,667
Other interest receivable and similar income (4,630) (6,374)
Taxation (19,873) 229,377
Accrued expenses 6,267 138,816
Chn»ges iit:
Stocks 25,612 24,322
Trade and other debtors 50,166 149,402
Trade and other creditors 44,658 (176,764)
Cash generated
from operations		 845,404 503,466
Interest received 4,630 6,374
Net cash fiom operating activities 850,034 509,840
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase oftangible
assets		 (190,117) (334,962)
Purchase ofintangible
assets		 (4o,ooo)
Net cash used in investing activities (190,117) (374,962)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from borrowings (50,000) 50,000
Net cash (used in)/from
financing		 activities (50,000) 50,000
NET INCREASE IN CASH AND CASH EQUIVALENTS 609,917 184,878
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 654,281 469,403
CASH AND CASH EQUIVALENTS AT END OF YEAR 1,264,198 654,281

5. DONATIONS AND LEGACIES
Unrestricted Restricted Total Funds
Funds Funds 2021
DONATIONS
Bequests and donations 190,603 190,603
GIFTS
Membership subscripttons 54,335 54,335
GRANTS
Grants receivable 557,943 557,943
802,881 802,881
Unrestricted Restricted Total Funds
Funds Funds 2020
f
DONATIONS
Bequests and donations 330,849 148 330,997
GIFTS
Membership subscriptions 57,875 57,875
GRANTS
Grants receivable 402,749 402,749
791,473 148 791,621
6. CIIARITABLE ACTIVITIES
CIIARITABLE ACTIVITIES
Unrestricted Total Funds Unrestricted Total Funds
Funds 2021 Funds 2020
g
Fares 498,278 498,278 131,917 131,917
Loco Hire 27,648 27,648
Special events income 462,796 462,796 362,220 362,220
961,074 961,074 521,785 521,785

Umestricted Total Funds Unrestncted Total Funds
Funds 2021 Ftlllrls 2020
Catering income 166,602 166,602 82„938 82,938
Shop income 121,129 121,129 71,499 71,499
Parking 3,360 3,360
Filming fees 151,408 151,408 833 833
Adverts 213 213
Sundries 7, 163 7,163 280 280
Photo permits 3,755 3,755
Apprentice scheme 2,090 2,090
Scrap 22,559 22,559 13,581 13,581
468,861 468,861 178,549 178,549

NVE STMENT INCOME
Unrestricted Total Funds Unrestricted Total Funds
Funds 202] Funds 2020
Bank interest receivable 2,297 2,297 3 008 3 008
Rent receivable 2,333 2 333 62,696 62,696
4,630 4,630 65,704 65,704

Unrestricted Total Funds Unrestricted Total Funds
Funds 2021 Funds 2020
g 6
Shop 77,601 77,601 55,190 55,190
Catering 185,905 185,905 209,305 209,305
263,506 263,506 264,495 264,495

EXPENDITURE ON CH ARITABLE ACTIVITIE S BYFUND T YPE
Unrestricted Total Funds Unrestricted Total Funds
Funds 2021 Funds 2020
g
Trahr services 694,873 694,873 402,568 402,568
Support costs 928,925 928,925 711,362 711,362
1,623,798 1,623,798 1,113,930 1,113,930

EXPENDIT URE ON CHARI TABLE ACTIVITIE S BYACTIVI TY TYPE
Activities
undertalren Total funds Total fund
directly Support costs 2021
g		 2020
f
Train services 694,873 610,203 1,305,076 798,413
Shop 22,520 22,520 21,713
Catering 31,529 31,529 21,713
Fundraising activities 135,963 135,963 176,096
Other activities 114,571 114,571 84,835
Governance costs 14,139 14,139 11,160
694,873 928,925 1,623,798 1,113,930
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Major comp onents
of		 ta x (income)/expense
2021 2020
f
Current tax:
UK current tax (income)/expense (2,025) 2,025
Deferred tax:
Origination and reversal oftiniing differences (17,848) 227,352
Taxation (19,873) 229,377
14. NKT INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
2021 2020
Amortisation ofintangible assets 3,333
Depreciation oftangible fixed assets 215,060 191,497
impairment oftangible assets 121,462
Impairment ofintangible assets 36,667
15. AUDITORS REMUNERATION
2021 2020
Fees payable for the audit ofthc consolidated financial statements 4,350 4,000
Fees payable to the charity's
auditor and its associates for other services;
Audit ofthe financial
statement ofthe subsidiary		 5,448 5,550
16. STAFF COSTS
STAFF COSTS
The total staff costs and employee benefits for the reporting period are analysed
as		 follows:
2021 2020
Wages and salaries 360,479 394,815
Social secunty costs 26,529 27,722
Employer contributions to pension plans 7,278 9,203
394,286 431,740

Unrestricted Restricted Total Funds
funds funds 2021
Donations and grants received 670,281 670,281
Membership and other income 5,779 5,779
676,060 676,060
Costs ofgenerating
voluntary		 inconte 23,347 23,347
Governance costs 4,350 4,350
Support costs 27,027 27,027
54,724 54,724
Net movement
in funds		 621,336 621,336
Total funds Brought forward 4,858,831 5,692 4,864,523
Total funds carried forward 5,480,167 5,692 5,485,859

18. FINANCIAL PERFOR(MANCE OF THE FINANCIAL PERFOR(MANCE OF THE FINANCIAL PERFOR(MANCE OF THE CHARITY (cvrrciuucri)
Unc estricted Restricted Total Funds
funds funds 2020
Donations
and grants received		 604,468 148 604,616
Membership
and other income		 4,327 4,327
608,795 148 608,943
Costs ofgenerating voluntary income 15,2I l 15,211
Governance
costs		 4,048 4,048
Support costs 41,674 41,674
60,933 60,933
Net movement
in funds		 547,862 148 548,010
Total funds Brought forward 4,311,129 5,544 4,316,673
Total funds carried forward 4,858,991 5,692 4,864,683
19. INTANGIBLE ASSETS
Goodwill
g
Cost
At I January
2021		 and 31December 2021 40,000
Amortisation
At I lanuary
2021		 3.333
Charge for the year
Impairment
losses		 36,667
At 31December 2021 40,000
Carrying
amount
At 31December 2021
At 31 December 2020 36,667

TANGIBLE FIXEDASSET S
Long Locomotives
Freehold leasehold Fixtures & rolling
property property gr fittings stock Total
g
Cost
At I January 2021 1,878,413 76,317 580,291 2,903,515 5,438,536
Additions 93,249 49,944 46,924 190,117
At 31December 2021 1,971,662 76,317 630,235 2,950,439 5,628,653
Depreciation
At I Januaiy 2021 44,111 26,529 416,830 602,823 1,090,293
Charge for the year 53,373 852 27,074 133,761 215,060
Impairment
losses		 16,795 30,991 73,676 — 121,462
At 31 December 2021 114,279 58,372 517,580 736,584 1,426,815
Carrying
amount
At 31December 2021 1,857,383 17,945 I 1.2,655 2,213,855 4,201,838
At 31 December 2020 1,834,302 49,788 163,461 2,300,692 4,348,243
2021 2020
Leasehold
land and buildings		 comprise of
Keightey Station —cost 40,809 40,809
Cafe Choux Choux —cost 33,808
Iron gates cost 1,700 1,700
Amotsisation
to date		 (24,564) (26,529)
17,945 49,788

Long Locomotives
Freehold leasehold Fixtures &rolling
property properly &fittings stock Total
f.
Cost At 1 January 2020 1,025,117 74,617 476,173 1,221,593 21797,500
Additions 93,249 49,994 46,674 189,867
Disposals
1,118,366 74,617 526,167 1,268,267 2,987,367
Depreciation At 1
January 2020 14,225 26,207 389,292 517,731 947,455
Charge for the year 14,352 36 4,741 7,724 26,853
Itnpainuent losses 13,794 30,991 38,484 83,269
42,371 57,234 432,517 525,455 1,057,577
At 31 December 2021 1,051,326 16,603 76,008 624,497 1,768,434
At 31December 2020 1,010,892 48,410 86,881 703,862 1,850,045

21. INVESTME NT ENTlTIES (coiuiiiiieil)
2021 2020
Summary
oftrading results
Turnover 1,424,678 696,064
Total expenditure (1,794,490) (1,317,497)
Other operating income 116,489 269,756
Other income 2,400 3,008
Taxation 19,873 (229,377)
Loss for thc year (231,050) (578,046)
Assets 2,373,213 2,207,286
Liabilities (1,381,741) (984,764'1
Summary
ofassets and liabilities		 991,472 1,222,522
22. STOCKS
2021 2020
g
Retail shop stock 48,123 73,735
23. DEBTORS
2021 2020
6
Trade debtors 3i377 39,853
Prepayments and accrued income 42,218 49,145
Corporation tax repayable 2,025
Other debtors 25,845 34,633
73,465 123,631
Charitable company
2021 2020
Trade debtors 10 32,497
Amounts
owed by subsidiary		 undertaking 700,008 251,784
VAT 224 2,239
700,242 286,520

CREDlTORS: amounts falling due within
one year
2021 2020
Bank loans and overdrafts 5,833
Trade creditors 71,641 74,587
Accruals and deferred income 87,580 61,834
Coq&oration tax 2,025
Social security and other taxes 7,271 10,602
Sundry creditors 26,757 51,503
193,249 206,384
Charitable
company
2021 2020
Trade creditors 4,607 4,8(i4
Accrtial and deferred income 37,022 24,741
41,629 29,605
CREDITORS: amounts falling due after more than one year
2021 2020
Bank loans and overdrafts 44,167
Accruals and deferred uicome 181,710 125,508
181,710 169,675

202] 2020
At I January 2021 161,150 172,291
Amount
released		 to income (161,150) (172,291)
Amount
defen'ed		 in year 236,831 161,150
At 31December 2021 236,831 161,150
unds received
ollows:		 in advance
which
all relate to monies		 in advance for the 2022 finan cial
year as
202] 2020
Subscriptions paid in advance 22 772 20,741
Grant inconie received in advance 214,059 140,409
236,831 161,150

The defen'ed tax includ ed
in the statement offinmicial position is as fol		 lows:
2021 2020
Included
in		 provisions (note 28) 209,504 227,352
The deferred tax account consists ofthe tax effect oftiming differences in respect of:
2021 2020
Accelerated capital alloivances 209,504 227,352
28. PROVISIONS
Deferred tax
(note 27)
At 1 January 2021 223,012
Charge against provision (13,508)
At 31December 2021 209,504

Unrestr icted funds
At At
I Jan 2021
f		 Income
f.		 Expenditure 31Dec 2021
General funds 4,627,454 2,237,446 (1,867,431) 4,997,469
At At
I Jan 2020 Income Expenditure 31 Dcc 2020
General funds 4,677,745 1,557,511 (1,607,802) 4,627,454
Restricted funds
At At
I Jmi 2021 Income Expenditure 31Dec 2021
g
41241 Ivatt 5,253 5,253
Engine 43924 439 439
5,692 5,692
At At
I Jan 2020 Income Expenditure 31Dec 2020
41241 Ivatt 5,105 148 5,253
Engine 43924 439 439
5,544 148 5,692

ANALYS IS OF N ET ASSETS BETWE EN FUNDS
Unrestricted Restricted Total Funds
Funds Funds 2021
f. 8
Intangible assets
Tangible fixed assets 4,201,838 4,201,838
Current
assets		 1,380,094 5,692 1,385,786
Creditors less than I year (193,249) (193,249)
Creditors greater than I year (181,710) (181,710)
Provisions (209,504) (209,504)
Net assets 4,997,469 5,692 5,003,161
Unrestricted Restricted Total Funds
Funds Funds 2020
f.
Intangible assets 36,667 36,667
Tangible fixed assets 4,348,243 4,348,243
Current assets 845,955 5,692 851,647
Creditors less than I year (206,384) (206,384)
Creditors grcatcr than I year (169,675) (169,675)
Provisions (227,352) (227,352)
Net assets 4,627,454 5,692 4,633,146

ANA LYSIS OF CHANGES IN NKT D EBT
At At
I Jan 2021 Cash flows 31Dec 2021
Cash at bank and in hand 654,281 609,917 1,264,198
Debt due within one year (5,833) 5,833
Debt due after one year (44,167) 44,167
604,281 659,917 1,264,198

The total future The total future minimum lease payments under non-cancellable operating leases are as follows: leases are as follows:
2021 2020
5
Not later than 1 year 19,045 24,762
Later than 1 year and not later than 5 years 69,853 92,723
Later than 5 years 80,625 96,750
169,523 214,235