Charity Registration No. 1139786
Company Registration No. 06999964 (England and Wales)
CAMBRIAN HERITAGE RAILWAYS LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
CAMBRIAN HERITAGE RAILWAYS LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Mrs J M Owen | |
|---|---|---|
| Mr R Date | ||
| Mr R Williams | ||
| Mr R M O Jones | ||
| Mr M Davidson | ||
| Mr G Evans | ||
| Mr P Bradley | ||
| Mr J Oliver | ||
| Mr D L Jones | ||
| Mr A Rudd | ||
| Mr T Sanderson | ||
| Mr P J McCracken | (Appointed 4 June 2020) | |
| Mr A C Green | (Appointed 9 February | |
| 2021) | ||
| Charity number | 1139786 | |
| Company number | 06999964 | |
| Registered office | Suite 1 Old Station Building | |
| Oswald Road | ||
| Oswestry | ||
| Shropshire | ||
| United Kingdom | ||
| SY11 1RE | ||
| Independent examiner | Azets Audit Services | |
| 5 - 7 Beatrice Street | ||
| Oswestry | ||
| Shropshire | ||
| United Kingdom | ||
| SY11 1QE |
CAMBRIAN HERITAGE RAILWAYS LIMITED
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 14 |
CAMBRIAN HERITAGE RAILWAYS LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2021
The Trustees present their report and financial statements for the year ended 31 March 2021.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's memorandum of association , the Companies Act 2006 and “Accounting and Reporting by Charities: 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)” (as amended for accounting periods commencing from 1 January 2016)
Objectives and activities
The charity's objectives are :
- The preservation, operation, restoration, maintenance and protection of such of the structures, buildings, plant, locomotives, rollingstock, railway track and equipment on or adjacent to or connected with the railway lines between Gobowen and Llanymynech and beyond, and Llynclys Junction and Llanddu and beyond, as are of historic, cultural, architectural, constructional or scientific interest.
-The advancement of the education of the public in the history and heritage of the railway by such means as the trustees may determine.
-
The provision of transport facilities in Oswestry and its hinterland for people who have special need of such facilities because they are elderly, poor or disabled, people with young children or those living in isolated areas where there are no adequate public transport facilities.
-
The relief of unemployment for the benefit of the public in such ways as may be thought fit including assistance to find employment.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
During the year the charity has continued to run trains in line with its objectives.
Work has continued on extending the line from Oswestry to Weston.
Financial review
It is the trustees' policy to secure funds prior to making any financial commitments. The current level of reserves is in line with the requirements of the charity in light of the additional works being undertaken.
The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Structure, governance and management
The charity is a company limited by guarantee .
The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Mrs J M Owen
Mr R Date Mr R Williams Mr R M O Jones Mr M Davidson Mr G Evans Mr P Bradley Mr J Oliver Mr D L Jones
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CAMBRIAN HERITAGE RAILWAYS LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
Mr A Rudd Mr T Sanderson Mr P J McCracken (Appointed 4 June 2020) Mr A C Green (Appointed 9 February 2021)
None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The Trustees' r eport was approved by the Board of Trustees.
.............................. Mr R Date Trustee Dated: .........................
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CAMBRIAN HERITAGE RAILWAYS LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF CAMBRIAN HERITAGE RAILWAYS LIMITED
I report to the Trustees on my examination of the financial statements of Cambrian Heritage Railways Limited (the charity) for the year ended 31 March 2021.
Responsibilities and basis of report
As the Trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act) . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Azets Audit Services
5 - 7 Beatrice Street Oswestry Shropshire SY11 1QE United Kingdom
Dated: .........................
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CAMBRIAN HERITAGE RAILWAYS LIMITED
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021
| Unrestricted Restricted funds funds 2021 2021 Notes £ £ Income from: Donations and legacies 3 60,770 66,740 Charitable activities 4 22,408 - Investments 5 1 - Total income 83,179 66,740 Expenditure on: Raising funds 6 1,814 - Charitable activities 7 35,727 24,404 Total resources expended 37,541 24,404 Net income for the year/ Net movement in funds 45,638 42,336 Fund balances at 1 April 2020 21,255 151,064 Fund balances at 31 March 2021 66,893 193,400 |
TotalUnrestricted Restricted funds funds 2021 2020 2020 £ £ £ 127,510 25,698 140,280 22,408 35,130 - 1 33 - 149,919 60,861 140,280 1,814 3,614 - 60,131 54,107 12,513 61,945 57,721 12,513 87,974 3,140 127,767 172,319 18,115 23,297 260,293 21,255 151,064 |
Total 2020 £ 165,978 35,130 33 201,141 3,614 66,620 70,234 130,907 41,412 172,319 |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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CAMBRIAN HERITAGE RAILWAYS LIMITED
BALANCE SHEET
AS AT 31 MARCH 2021
| Notes Fixed assets Tangible assets 11 Current assets Stocks 12 Debtors 13 Cash at bank and in hand Creditors: amounts falling due within one year 15 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 16 Net assets Income funds Restricted funds 17 Unrestricted funds |
2021 £ 2,514 9,657 102,978 115,149 (52,337) |
£ 232,718 62,812 295,530 (35,237) 260,293 193,400 66,893 260,293 |
2020 £ 2,514 9,177 68,270 79,961 (47,397) |
£ 145,155 32,564 177,719 (5,400) 172,319 151,064 21,255 172,319 |
|---|---|---|---|---|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2021.
The directors acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on .........................
..............................
Mr R Date Trustee
Company Registration No. 06999964
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CAMBRIAN HERITAGE RAILWAYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
1 Accounting policies
Charity information
Cambrian Heritage Railways Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Suite 1 Old Station Building, Oswald Road, Oswestry, Shropshire, SY11 1RE, United Kingdom.
1.1 Accounting convention
The accounts have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006 and “Accounting and Reporting by Charities: 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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
1.5 Expenditure
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CAMBRIAN HERITAGE RAILWAYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
1 Accounting policies
(Continued)
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings None Plant and machinery 15% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .
1.8 Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell . Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
1.9 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.10 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity 's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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CAMBRIAN HERITAGE RAILWAYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
1 Accounting policies
(Continued)
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity ’s contractual obligations expire or are discharged or cancelled.
1.11 Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
1.12 Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
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CAMBRIAN HERITAGE RAILWAYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
3 Donations and legacies
| Unrestricted Restricted funds funds 2021 2021 £ £ Donations and gifts 40,770 5,340 Grants 20,000 61,400 60,770 66,740 |
TotalUnrestricted Restricted funds funds 2021 2020 2020 £ £ £ 46,110 25,698 7,627 81,400 - 132,653 127,510 25,698 140,280 |
Total 2020 £ 33,325 132,653 165,978 |
|---|---|---|
Donated goods and services
Included within donations is £5,000 representing an estimate of the value attached to donated assets from the National Railway Museum. The value has been arrived at by reference to similar assets being sold on the open market.
4 Charitable activities
| Activities | Activities for | |
|---|---|---|
| for | generating funds | |
| generating | ||
| funds | ||
| 2021 | 2020 | |
| £ | £ | |
| Fundraising | 4,405 | 2,371 |
| Membership fees | 4,968 | 4,711 |
| Ancillary trading income | - | 7,688 |
| Charitable rental income | 13,035 | 20,360 |
| 22,408 | 35,130 |
5 Investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2021 | 2020 | |
| £ | £ | |
| Interest receivable | 1 | 33 |
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CAMBRIAN HERITAGE RAILWAYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
6 Raising funds
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2021 | 2020 | |
| £ | £ | |
| Trading costs | ||
| Other trading activities | 1,814 | 3,614 |
| 1,814 | 3,614 |
7 Charitable activities
| Restoration | Restoration | |
|---|---|---|
| 2021 | 2020 |
|
| £ | £ |
|
| Depreciation and impairment | 7,886 | 2,068 |
| Rent | 16,901 | 16,898 |
| Operational costs | 12,361 | 16,413 |
| Insurance | 9,604 | 8,577 |
| Light and heat | 1,983 | 2,428 |
| Rates | 210 | 385 |
| Postage and stationery | 1,317 | 1,407 |
| Advertising | - | 984 |
| Repairs and renewals | 3,321 | 13,057 |
| Accountancy | 2,022 | 1,868 |
| Sundries | 3,864 | 785 |
| Professional fees | 100 | 1,095 |
| Other charitable expenditure | 562 | 655 |
| 60,131 | 66,620 |
|
| 60,131 | 66,620 |
|
| Analysis by fund | ||
| Unrestricted funds | 35,727 | 54,107 |
| Restricted funds | 24,404 | 12,513 |
| 60,131 | 66,620 |
|
| For the year ended 31 March 2020 | ||
| Unrestricted funds | 54,107 | |
| Restricted funds | 12,513 | |
| 66,620 |
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CAMBRIAN HERITAGE RAILWAYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
8 Trustees
None of the Trustees (or any persons connected with them) received any remuneration during the year , nor for the year ended 31 March 2020.
No trustees were reimbursed travelling expenses during the year, nor for the year ended 31 March 2020.
9 Employees
The average monthly number of employees during the year was:
Total 10 Taxation The charity is exempt from corporation tax on its charitable activities. 11 Tangible fixed assets Land and buildings £ Cost At 1 April 2020 109,046 Additions 38,916 At 31 March 2021 147,962 Depreciation and impairment At 1 April 2020 - Depreciation charged in the year - At 31 March 2021 - Carrying amount At 31 March 2021 147,962 At 31 March 2020 109,046 Included in cost or valuation of tangible fixed assets is freehold land of £4,108. 12 Stocks Finished goods and goods for resale |
2021 Number - Plant and machinery £ 41,549 56,532 98,081 5,440 7,885 13,325 84,756 36,109 2021 £ 2,514 |
2020 Number - Total £ 150,595 95,448 246,043 5,440 7,885 13,325 232,718 145,155 2020 £ 2,514 |
|---|---|---|
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CAMBRIAN HERITAGE RAILWAYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
| 13 Debtors Amounts falling due within one year: Other debtors 14 Loans and overdrafts Bank loans Loans from related parties Payable within one year Payable after one year |
2021 £ 9,657 2021 £ 20,000 45,000 65,000 48,163 16,837 |
2020 £ 9,177 2020 £ - 45,000 45,000 45,000 - |
|---|---|---|
No security has been offered for the borrowings.
The loan from related parties relates to a loan received from Cambrian Railways Trust, a charity that has Trustees in common with Cambrian Heritage Railway. The loan is repayable upon demand and carries no interest charge.
15 Creditors: amounts falling due within one year
| Notes Bank loans 14 Other borrowings Trade creditors Accruals and deferred income |
2021 £ 3,163 45,000 824 3,350 52,337 |
2020 £ - 45,000 847 1,550 47,397 |
|---|---|---|
16 Creditors: amounts falling due after more than one year
| Notes Bank loans 14 Other creditors |
2021 £ 16,837 18,400 35,237 |
2020 £ - 5,400 5,400 |
|---|---|---|
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CAMBRIAN HERITAGE RAILWAYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
17 Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
| Movement in funds | Movement in funds | Movement in funds | Movement in funds | ||||
|---|---|---|---|---|---|---|---|
| Balance at | Incoming | Resources | Balance at | Incoming | Resources | Balance at | |
| 1 April 2019 | resources | expended | 1 April 2020 | resources | expended 31 |
March 2021 | |
| £ | £ | £ | £ | £ | £ | £ | |
| Community | |||||||
| Orchard | 8,030 | 438 | (510) | 7,958 | 115 | (696) | 7,377 |
| Weston Line | 15,267 | 132,653 | (11,543) | 136,377 | 41,425 | (2,745) | 175,057 |
| 08 Fund | - | 6,994 | (460) | 6,534 | 225 | (238) | 6,521 |
| Norma | - | 195 | - | 195 | - | - | 195 |
| Lottery | - | - | - | - | 19,975 | (19,975) | - |
| NRM Coach | - | - | - | - | 5,000 | (750) | 4,250 |
| 23,297 | 140,280 | (12,513) | 151,064 | 66,740 | (24,404) | 193,400 |
Community Orchard fund
The incoming resources in this fund are to be used to create, plant and maintain an orchard within the grounds maintained by Cambrian Heritage Railways.
Weston Line
The incoming resources in this fund are to be used extending the line through Gas Works Bridge to Weston Wharf.
08 Fund
The resources in this fund are used to purchase, bring into use and maintain the 08 Loco.
Norma
The resources in this fund are restricted for use on the Norma engine.
Lottery
This funding was to support the charity during the Covid restrictions.
NRM Coach
This fund represents the donation of a coach from the National Railway Museum.
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CAMBRIAN HERITAGE RAILWAYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
| 18 Analysis of net assets between funds Unrestricted Restricted 2021 2021 £ £ Fund balances at 31 March 2021 are represented by: Tangible assets 48,178 184,540 Current assets/ (liabilities) 53,952 8,860 Long term liabilities (35,237) - 66,893 193,400 |
TotalUnrestricted Restricted 2021 2020 2020 £ £ £ 232,718 14,757 130,398 62,812 12,093 20,471 (35,237) (5,400) - 260,293 21,450 150,869 |
Total 2020 £ 145,155 32,564 (5,400) 172,319 |
|---|---|---|
19 Related party transactions
During the prior year a loan of £45,000 was received from Cambrian Railways Trust, a charity that has Trustees in common with Cambrian Heritage Railways.
The building at Weston Wharf is being built on land owned by Cambrian Railway Society, a charity that has Trustees in common with Cambrian Heritage Railways. There is a memorandum of understanding in place between the charities that they will work towards common goals. As such, Cambrian Heritage Railways uses the land with no rent being chargeable.
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