**Charity registration number 1139786**
**Company registration number 06999964 (England and Wales)**
## **CAMBRIAN HERITAGE RAILWAYS LIMITED**
# **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **CAMBRIAN HERITAGE RAILWAYS LIMITED**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|Mrs J M Owen|
|---|---|
||Mr R Williams|
||Mr R M O Jones|
||Mr M Davidson|
||Mr P Bradley|
||Mr D L Jones|
||Mr A Rudd|
||Mr T Sanderson|
||Mr P J McCracken|
||Mr A C Green|
|**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 - 15|
## **CAMBRIAN HERITAGE RAILWAYS LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
The Trustees present their annual report and financial statements for the year ended 31 March 2022.
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.
- 1 -
## **CAMBRIAN HERITAGE RAILWAYS LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
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 (Resigned 13 November 2021) Mr R Williams Mr R M O Jones Mr M Davidson Mr G Evans (Resigned 13 November 2021) Mr P Bradley Mr D L Jones Mr A Rudd Mr T Sanderson Mr P J McCracken Mr A C Green
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.
## **Supplier payment policy**
The company's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU).
The company's current policy concerning the payment of trade creditors is to:
- settle the terms of payment with suppliers when agreeing the terms of each transaction;
- ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts; and
- pay in accordance with the company's contractual and other legal obligations.
Trade creditors of the company at the year end were equivalent to XX day's purchases, based on the average daily amount invoiced by suppliers during the year.
The Trustees' report was approved by the Board of Trustees.
.............................. Mr T Sanderson **Trustee**
Date: .............................................
- 2 -
## **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 2022.
## **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
- 2 the financial statements do not accord with those records; or
- 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
- 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: .........................
- 3 -
## **CAMBRIAN HERITAGE RAILWAYS LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**3**
77,662
22,850
Charitable activities
**4**
29,959
-
Investments
**5**
1
-
**Total income**
107,622
22,850
**Expenditure on:**
Raising funds
**6**
3,466
-
Charitable activities
**7**
95,956
16,897
**Total expenditure**
99,422
16,897
**Net income for the year/**
**Net movement in funds**
8,200
5,953
Fund balances at 1 April 2021
66,893
193,400
**Fund balances at 31 March**
**2022**
75,093
199,353|**Total Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2021**
**2021**
**£**
**£**
**£**
100,512
60,770
66,740
29,959
22,408
-
1
1
-
130,472
83,179
66,740
3,466
1,814
-
112,853
35,727
24,404
116,319
37,541
24,404
14,153
45,638
42,336
260,293
21,255
151,064
274,446
66,893
193,400|**Total**
**2021**
**£**
127,510
22,408
1|
|---|---|---|
|||149,919|
|||1,814|
|||60,131|
|||61,945|
|||87,974
172,319|
|||260,293|
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.
- 4 -
## **CAMBRIAN HERITAGE RAILWAYS LIMITED**
## **BALANCE SHEET**
## _**AS AT 31 MARCH 2022**_
|**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|**2022**
**£**
7,850
9,243
106,983
124,076
(66,033)|**£**
264,479
58,043
322,522
(48,076)
274,446
199,353
75,093
274,446|**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|
|---|---|---|---|---|
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 2022.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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 T Sanderson **Trustee**
## **Company Registration No. 06999964**
- 5 -
## **CAMBRIAN HERITAGE RAILWAYS LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **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 amounts 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.
- 6 -
## **CAMBRIAN HERITAGE RAILWAYS LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **1 Accounting policies**
**(Continued)**
## **1.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
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 Computers 33% 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 the statement of financial activities.
## **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.
- 7 -
## **CAMBRIAN HERITAGE RAILWAYS LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **1 Accounting policies**
## **(Continued)**
## **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.
## _**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 payments 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 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **1.12 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.
## **1.13 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.
- 8 -
## **CAMBRIAN HERITAGE RAILWAYS LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **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.
## **3 Donations and legacies**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**£**
**£**
Donations and gifts
77,662
22,850
Grants
-
-
77,662
22,850|**Total**
Unrestricted
Restricted
funds
funds
**2022**
2021
2021
**£**
£
£
100,512
40,770
5,340
-
20,000
61,400
100,512
60,770
66,740|Total
2021
£
46,110
81,400|
|---|---|---|
|||127,510|
## **Donated goods and services**
Included within the prior year donations figure 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 for**|
Activities for generating|
|---|---|---|
||**generating**|
funds|
||**funds**||
||**2022**|2021|
||**£**|£|
|Fundraising|4,170|4,405|
|Membership fees|3,965|4,968|
|Charitable rental income|20,790|13,035|
|Other income|1,034|-|
||29,959|22,408|
- 9 -
## **CAMBRIAN HERITAGE RAILWAYS LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **5 Investments**
||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**2022**|2021|
||**£**|£|
|Interest receivable|1|1|
|**Raising funds**|||
||**Unrestricted**|Unrestricted|
||**funds**|funds|
||**2022**|2021|
||**£**|£|
|Trading costs|||
|Other trading activities|3,466|1,814|
||3,466|1,814|
## **6 Raising funds**
- 10 -
## **CAMBRIAN HERITAGE RAILWAYS LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **7 Charitable activities**
||**Restoration **|**Restoration**|
|---|---|---|
||**2022**|**2021**|
||**£**|**£**|
|Depreciation and impairment|9,536|7,886|
|Rent|16,900|16,901|
|Operational costs|29,417|12,361|
|Insurance|8,102|9,604|
|Light and heat|1,255|1,983|
|Rates|-|210|
|Postage and stationery|922|1,317|
|Advertising|811|-|
|Repairs and renewals|41,716|3,321|
|Accountancy|1,778|2,022|
|Sundries|1,453|3,864|
|Professional fees|82|100|
|Other charitable expenditure|881|562|
||112,853|60,131|
||112,853|60,131|
|**Analysis by fund**|||
|Unrestricted funds|95,956|35,727|
|Restricted funds|16,897|24,404|
||112,853|60,131|
|**For the year ended 31 March 2021**|||
|Unrestricted funds|35,727||
|Restricted funds|24,404||
||60,131||
## **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 2021.
No trustees were reimbursed travelling expenses during the year, nor for the year ended 31 March 2021.
- 11 -
## **CAMBRIAN HERITAGE RAILWAYS LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **9 Employees**
The average monthly number of employees during the year was:
|Total
There were no employees whose annual remuneration was more than £60,000.|**2022**
**Number**
-|**2021**
**Number**
-|
|---|---|---|
||||
## **10 Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **11 Tangible fixed assets**
|**Cost**
At 1 April 2021
Additions
At 31 March 2022
**Depreciation and impairment**
At 1 April 2021
Depreciation charged in the year
At 31 March 2022
**Carrying amount**
At 31 March 2022
At 31 March 2021|**Land and**
**buildings**
**Plant and**
**machinery**
**Computers**
**£**
**£**
**£**
147,962
98,081
-
4,375
36,263
658
152,337
134,344
658
-
13,325
-
-
9,318
217
-
22,643
217
152,337
111,701
441
147,962
84,756
-|**Total**
**£**
246,043
41,296|
|---|---|---|
|||287,339|
|||13,325
9,535|
|||22,860|
|||264,479|
|||232,718|
Included in cost or valuation of tangible fixed assets is freehold land of £4,108.
## **12 Stocks**
|**Stocks**|||
|---|---|---|
||**2022**|**2021**|
||**£**|**£**|
|Finished goods and goods for resale|7,850|2,514|
- 12 -
## **CAMBRIAN HERITAGE RAILWAYS LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **13 Debtors**
|**Amounts falling due within one year:**
Other debtors
Prepayments and accrued income|**2022**
**£**
5,928
3,315
9,243|**2021**
**£**
9,657
-|
|---|---|---|
|||9,657|
## **14 Loans and overdrafts**
|Bank loans
Loans from related parties
Payable within one year
Payable after one year|**2022**
**£**
16,838
45,000
61,838
48,162
13,676|**2021**
**£**
20,000
45,000|
|---|---|---|
|||65,000|
|||48,163
16,837|
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|**2022**
**£**
3,162
45,000
15,971
1,900
66,033|**2021**
**£**
3,163
45,000
824
3,350|
|---|---|---|
|||52,337|
## **16 Creditors: amounts falling due after more than one year**
|**Notes**
Bank loans
**14**
Other creditors|**2022**
**£**
13,676
34,400
48,076|**2021**
**£**
16,837
18,400|
|---|---|---|
|||35,237|
- 13 -
## **CAMBRIAN HERITAGE RAILWAYS LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **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 2020**|**resources**|**expended**
**1 April 2021**||**resources**|**expended**|**31 March**|
||**£**|**£**|**£**|**£**|**£**|**£**|**2022**
**£**|
|Community||||||||
|Orchard|7,958|115|(696)|7,376|850|(2,886)|5,340|
|Weston Line|136,377|41,425|(2,745)|175,057|-|(1,148)|173,909|
|08 Fund|6,534|225|(238)|6,521|-|(226)|6,295|
|Norma|195|-|-|195|-|-|195|
|Lottery|-|19,975|(19,975)|-|12,000|(12,000)|-|
|NRM Coach|-|5,000|(750)|4,250|-|(637)|3,613|
|Pre-Metro|-|-|-|-|10,000|-|10,000|
|**_DIFFERENC_**||||||||
|**_E TO_**||||||||
|**_ANALYSE_**|-|||1|||1|
||151,064|66,740|(24,404)|193,400|22,850|(16,897)|199,353|
## **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.
## **Pre-Metro**
This fund forms part of the community rail project.
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## **CAMBRIAN HERITAGE RAILWAYS LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
|**18**
**Analysis of net assets between funds**
**Unrestricted**
**Restricted**
**2022**
**2022**
**£**
**£**
Fund balances at 31
March 2022 are
represented by:
Tangible assets
82,056
182,423
Current assets/(liabilities)
41,114
16,929
Long term liabilities
(48,076)
-
75,094
199,352|**Total**
Unrestricted
Restricted
**2022**
2021
2021
**£**
£
£
264,479
48,178
184,540
58,043
53,952
8,860
(48,076)
(35,237)
-
274,446
66,893
193,400|Total
2021
£
232,718
62,812
(35,237)
260,293|
|---|---|---|
## **19 Related party transactions**
Included within creditors due within one year is 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.
During the year an Engine was purchased at open market value for £30,000. One of the owners of the Engine was a trustee of the Charity whilst negotiations to purchase the Engine were underway, the Trustee did not seek re-election at the AGM and is no longer a trustee of the Charity.
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