2024-03-31-accounts - Llanelli Railway Goods Shed Trust

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REGISTERED COMPANY NUMBER: 07583629 (England and Wales) REGISTERED CHARITY NUMBER: 1141801

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

LLANELLI RAILWAY GOODS SHED TRUST

Bevan Buckland LLP Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA79LA

LLANELLI RAILWAY GOODS SHED TRUST

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

		Page
Repor of the Trustees	1	to2
Independent Examiner's Repor		3
Statement of Financial Activities		4
Balance Sheet		5
Cash Flow Statement		6
Notes to the Cash Flow Statement		7
Notes to the Financial Statements	8	to16
Detailed Statement of Financial Activities		17

LLANELLI RAILWAY GOODS SHED TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of 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) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Significant activities and future plans

The Trust undertook further repairs and restoration of the main Shed including the completion of the remainder of the re-roofing of the north elevation and refurbishment of the windows.

Improvements to the interior of the Shed were also made notably the construction of two meeting Pods which are available for hiring.

The Trust was also successful in obtaining a grant from the Landfill Tax scheme for landscaping works which commenced in December. A further grant from the Great Western Railway enabled the Trust to construct a section of track inside the Shed and bring a two car" Pacer " train into the Shed. One carriage is now used as cafe seating area, whilst the other will be converted into a "Caabn Eco" offering eco friendly products for sale to the local community.

The Trust has hosted many community events at the Shed and provides facilities for community groups to meet on a regular basis.

Feasibility studies for the next phase of the project were undertaken with a target for completion of this phase in 25/26

FINANCIAL REVIEW

Financial Position

During the financial year the charity reported a surplus of £103,715 (2023 £94,726). This was as a result of receiving capital grants towards the refurbishment.

The unrestricted reserves at 31 March 2024 were £983,985 (2023 £863,838), these also include designated capital assets. The restricted reserves at 31 March were £54,269 (2023 £70,701), the movement of this balance is the transfer of restricted funds moved to the designated asset fund £124,341 and other restitched funds have been spent on expenses in the profit and loss.

Trustees restrict renovation activity to the level of grants received. There are three factors which will impact the future financial position of the trust. In July 2023 a 5 year lease for office accommodation starting from September 2022 was signed with Cannarthenshire CC. In September 2023 we opened a community cafe at the Goods shed which allows us to increase our ability to generate our own income. The trust had a loan of £34,000 with Cannarthenshire CC which is included in the creditor balance at 31 March 2024 £23,000. In August 2022 trustees signed an agreement to borrow £34,000 from WCVA over 10 years at 5% fixed interest rate. An amount of £23,000 was drawn down in July 2023 and the remaining £11,000 has been drawn down at September 2024.

Reserves policy

The board has examined the charity's requirements for reserves in respect of the main risks to the organisation. Reserves will be held as required to manage operational costs but the key aim of the charity is to renovate the goods shed building so reserves will be utilised as required to meet this objective.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

The directors of the company are also charity trustees for the purposes of charity law. and in the organisation's Memorandum and Articles are known as the Board.

Elections for the Board take place at the Annual General Meeting.

Members are elected to serve for a period of three years, after which tenn they are eligible to seek re-election. We aim to ensure that our Board is both representative of the people and communities with whom we work, and has the necessary combined skills and experience to effectively govern the organisation.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

07583629 (England and Wales)

Page 1

LLANELLI RAILWAY GOODS SHED TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

Registered Charity number 1141801

Registered office 24 Harries Avenue Llanelli SA15 3LF Carmarthenshire

Trustees AM Doe G G Parker N R Griffith (resigned 18.10.24) Y Rodgers RW Roper C F Watson J Garcia (appointed 21.4.23) (resigned 15.11.24)

Independent Examiner

Alison Vickers Bevan Buckland LLP Castle Court Ground Floor Cardigan House Swansea Enterprise Park Swansea S�9� Approved by order of the board of trustees on .............. .zk[.{.] .3 .[j] ?.� .... and signed on its behalf by:

Page 2

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LLANELLI RAILWAY GOODS SHED TRUST

Independent examiner's report to the trustees of Llanelli Railway Goods Shed Trust ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company 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 your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the 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:

accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
the accounts 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
the accounts 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 accounts to be reached.

Alison Vickers

Bevan Buckland LLP Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA79LA

Date: 26th March 2025

Page 3

LLANELLI RAILWAY GOODS SHED TRUST

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024

FOR	THEYEAR E	NDED 31 MARC	H 2024
				2024	2023
		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
	Notes	£	£	£	£
INCOME AND ENDOWMENTS FROM
Donations and legacies	3	2,767		2,767	1,900
Charitable activities
Charitable		4,349	140,515	144,864	145,992
Other trading activities	4	2,744		2,744	1,073
Investment income	5	49,137		49,137	11,463
Total		58,997	140,515	199,512	160.428
EXPENDITURE ON
Charitable activities	7
Charitable		63,079	32,606	95,685	65,702
Other		112		112
Total		63,191	32,606	95,797	65,702
NET INCOME/(EXPENDITURE) Transfers between funds	21	(4,194) 124,341	107,909 (124,341)	103,715	94,726
Net movement In funds		120,147	(16,432)	103,715	94,726
RECONCILIATION OF FUNDS
Total funds brought forward		863,838	70,701	934,539	839,813
TOTAL FUNDS CARRIED FORWARD		983,985	54,269	1,038,254	934,539

The notes form part of these financial statements

Page4

LLANELLI RAILWAY GOODS SHED TRUST

BALANCE SHEET 31 MARCH 2024

	31 M	ARCH 2024
				2024	2023
		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
	Notes	£	£	£
FIXED ASSETS
Tangible assets	13	13,152		13,152	15,179
Heritage assets	14	809,868	37,000	846,868	703,608
Investment property	15	213,968		213,968	191,704
		1,036,988	37,000	1,073,988	910,491
CURRENT ASSETS
Debtors	16	13,685		13,685	9,548
Cash at bank		46,507	17,269	63,776	86,441
		60,192	17,269	77,461	95,989
CREDITORS
Amounts falling due within one year	17	(94,593)		(94,593)	(71,941)
NET CURRENT ASSETS		(34,401)	17,269	(17,132)	24,048
TOTAL ASSETS LESS CURRENT LIABILITIES		1,002,587	54,269	1,056,856	934,539
CREDITORS
Amounts falling due after more than one year	18	(18,602)		(18,602)
NET ASSETS		983,985	54,269	1,038,254	934,539
FUNDS	21
Unrestricted funds				983,985	863,838
Restricted funds				54,269	70,701
TOTAL FUNDS				1,038,254	934,539

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 4 76 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each 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 charitable company.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The fi�af'�7I statements were approved by the Board of Trustees and authorised for issue on ....... -:U:_f--J/2.5, ............... and were signed on its behalf by:

R W Roper - Trustee

The notes form part of these financial statements

Page 5

LLANELLI RAILWAY GOODS SHED TRUST

LLANELLIRAILWAYGOODS SHED	TRUST
CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024
	2024	2023
Notes	£	£
Cash flows from operating activities
Cash generated from operations	121,811	120,215
Interest paid	(112)
Net cash provided by operating activities	121,699	120,215
Cash flows from investing activities
Purchase of tangible fixed assets		(15,179)
Purchase of heritage assets	(143,260)	(48,161)
Purchase of investment property	(22,264)
Net cash used in investing activities	(165,524)	(63,340)
Cash flows from financing activities
New loans in year	23,000
Loan repayments in year	(1,840)
Net cash provided by financing activities	21,160
Change in cash and cash equivalents in the reporting period	(22,665)	56,875
Cash and cash equivalents at the beginning of the reporting period	86,441	29,566
Cash and cash equivalents at the end of the reporting period	63,776	86,441

The notes form part of these financial statements

Page6

LLANELLI RAILWAY GOODS SHED TRUST

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024

1.

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024
RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING	ACTIVITIES
	2024	2023
	£	£
Net income for the reporting period (as per the Statement of Financial
Activities)	103,715	94,726
Adjustments for:
Depreciation charges	2,027
Interest paid	112
(lncrease)/decrease in debtors	(4,137)	23,952
Increase in creditors	20,094	1,537
Net cash provided by operations	121,811	120,215

2. ANALYSIS OF CHANGES IN NET FUNDS

ANALYSIS OF CHANGES IN NET FUNDS
	Al 1.4.23	Cash flow	Al 31.3.24
	£	£	£
Net cash
Cash at bank	86,441	(22,665)	63,776
	86,441	(22,665)	63,776
Debt
Debts falling due within 1 year		(2,558)	(2,558)
Debts falling due after 1 year		(18,602)	(18,602)
		(21,160)	(21,160)
Total	86,441	(43,825)	42,616
	--	--	--

The notes form part of these financial statements

Page 7

LLANELLI RAILWAY GOODS SHED TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Llanelli Railway Goods Shed Trust is a charitable company, limited by guarantee, registered in England and Wales. The charity's registered number and registered office address can be found on the Reference and Administrative Details page.

The presentation currency of the financial statements is the Pound Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

All income generated from the cafe operations shall be recognized as revenue when the sale is made, and the goods or services are delivered to the customer.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 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.

Tangible fixed assets

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

Improvements to property Straight line over 10 - 50 years - Fixtures and fittings Over 5 years

A de minimus level of £500 was set with only those assets costing above £500 capitalised. Assets below £500 will be written off to revenue in the year of acquisition. Depreciation shall be charged on a straight line basis over 5 years for equipment assets and 10 years for exhibit assets assuming no residual value for all of these assets. No depreciation has been charged in the year of acquisition.

Heritage assets

Heritage assets are initially recognised at cost.

Investment property

The office accommodation component of the goods shed has been moved from heritage asset to an investment property as since September 2022 these offices have been leased for income generation purposes.

The trustees feel it is appropriate to value the investment assets on the basis of 10 years of the income they generate.

Taxation

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

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.

Page 8

continued ...

LLANELLI RAILWAY GOODS SHED TRUST

NOTES TO THE FINANCIAL STATEMENTS· continued FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES • continued

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

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

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.

Employee Benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

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 company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3.

4.

5. DONATIONS AND LEGACIES

DONATIONS AND LEGACIES
	2024	2023
	£	£
Donations	2,707	1,835
Members subscriptions	60	65
	2,767	1,900
	--	--
OTHER TRADING ACTIVITIES
	2024	2023
	£	£
Fundraising events		863
_Cate_income	2,056
Room Hire	688	210
	2,744	1,073
	--	--
INVESTMENT INCOME
	2024	2023
	£	£
Rents received	49,137	11,463
	---	---

INVESTMENT INCOME

continued ...

Page 9

LLANELLI RAILWAY GOODS SHED TRUST

NOTES TO THE FINANCIAL STATEMENTS· continued FOR THE YEAR ENDED 31 MARCH 2024

6. INCOME FROM CHARITABLE ACTIVITIES

7. 8. Activity Grants Charitable Other income Charitable Grants received, included in the above, are as follows: Carmarthenshire County Council Capital Works Great Wester Rail Grant Welsh Goverment CADW Asda Moondance National Lottery Heritage Fund -Places for nature WCVA Landfill Disposals Tax Communities grant Neighbourly - Gallagher Community Fund Awards for all Catalyst Cymru Community Tracks to Nature CHARITABLE ACTIVITIES COSTS Direct Costs £ Charitable 90,551 --- SUPPORT COSTS Chartable	2024 £ 143,386 1,478 144,864 2024 £ 3,371 40,000 27,000 24,269 1,000 7,876 670 39,200 143,386 Support costs (see note 8) £ 5,134 ---	2023 £ 145,992
		145,992 2023 £ 25,552 50,000 600 20,840 49,000
		145,992
		Totals £ 95,685 --- Support costs £ 5,134 --

9. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

	2024	2023
	£	£
Depreciation - owned assets	2,027
	--	--

10. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.

continued ...

Page 10

LLANELLI RAILWAY GOODS SHED TRUST

NOTES TO THE FINANCIAL STATEMENTS· continued FOR THE YEAR ENDED 31 MARCH 2024

11. STAFF COSTS

11.	STAFF COSTS
			2024	2023
			£	£
	Wages and salaries		38,200	23,174
			38,200	23,174
	The average monthly number of employees during the year was as follows:
			2024	2023
	Administration		2	2
	No employees received emoluments in excess of £60,000.
12.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
		Unrestricted	Restricted	Total
		funds	funds	funds
		£	£	£
	INCOME AND ENDOWMENTS FROM
	Donations and legacies	1,900		1,900
	Charitable activities
	Charitable	6,548	139,444	145,992
	Other trading activities	1,073		1,073
	Investment income	2,305	9,158	11,463
	Total	11,826	148,602	160,428
	EXPENDITURE ON
	Charitable activities
	Charitable	(1,367)	67,069	65,702
	NET INCOME	13,193	81,533	94,726
	Transfers between funds	842,484	(842,484)
	Net movement in funds	855,677	(760,951)	94,726
	RECONCILIATION OF FUNDS
	Total funds brought forward	8,161	831,652	839,813
	TOTAL FUNDS CARRIED FORWARD	863,838	70,701	934,539
13.	TANGIBLE FIXED ASSETS
		Improvements	Fixtures
		to	and
		property	fittings	Totals
			£	£
	COST
	At 1 April 2023 and 31 March 2024	10,087	5,092	15,179
	DEPRECIATION
	Charge for year	1,009	1,018	2,027
	NET BOOK VALUE
	At 31 March 2024	9,078	4,074	13,152
	At 31 March 2023	10.087	5,092	15,179

Page 11

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LLANELLI RAILWAY GOODS SHED TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

14. HERITAGE ASSETS

HERITAGE ASSETS
	Total
	£
MARKET VALUE
At 1 April 2023	703,608
Additions	143,260
At 31 March 2024	846,868
NET BOOK VALUE
At 31 March 2024	846,868
At 31 March 2023	703,608

The charity purchased the land and property at former Goods Shed from Network Rail in 2021 for £1. Expenditure incurred in its restoration has been capitalised since its purchase.

15. INVESTMENT PROPERTY

INVESTMENT PROPERTY
	£
FAIR VALUE
At 1 April 2023	191,704
Additions	22,264
At 31 March 2024	213,968
NET BOOK VALUE
At 31 March 2024	213,968
At 31 March 2023	191,704

The trustees feel it is appropriate to value the investment assets on the basis of 10 years of the income they generate.

16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

		2024	2023
		£	£
	VAT	13,685	358
	Prepayments and accrued income		9,190
		13,685	9,548
		--	--
17.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2024	2023
		£	£
	Other loans (see note 19) Trade creditors	2,558 29,435
	Other creditors	53,579	67,175
	Accrued expenses	9,021	4,766
		94,593	71,941
		---	---

In August 2022 trustees signed an agreement to borrow £34,000 from WCVA over 10 years at 5% fixed interest rate. An amount of £23,000 has been drawn down in July 2023 and the remaining £11,000 has been drawn down in September 2024

continued ...

Page 12

LLANELLI RAILWAY GOODS SHED TRUST

NOTES TO THE FINANCIAL STATEMENTS. continued FOR THE YEAR ENDED 31 MARCH 2024

18. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE	YEAR
	2024	2023
	£	£
other loans (see note 19)	18,602
LOANS
An analysis of the maturity of loans is given below:
	2024	2023
	£	£
Amounts falling due within one year on demand:
Other loans	2,558
Amounts falling between one and two years:
Other loans - 1-2 years	3,119
Amounts falling due between two and five years:
Other loans - 2-5 years	7,837
Amounts falling due in more than five years:
Repayable otherwise than by instalments:
Other loans more Syrs non-inst	7,646

19. LOANS

20. SECURED DEBTS

Carmarthenshire County Council holds a legal charge over the freehold property comprising the former Railway Goods Shed and adjoining land as security for the payment and discharge of the Secured Obligations for a period ending ten years after the date of the final payment of funding.

21. MOVEMENT IN FUNDS

MOVEMENT IN FUNDS
		Net	Transfers
		movement	between	At
	At 1.4.23	in funds	funds	31.3.24
	£	£	£	£
Unrestricted funds
General fund	20,347	(4,194)		16,153
Designated Asset Fund Capital	843,491		124,341	967,832
	863,838	(4,194)	124,341	983,985
Restricted funds
Postcode Community Trust	1,720	(1,720)
Moondance	20,840	(20,840)
National Lottery Heritage Fund- Capital	48,141	39,200	(87,341)
Architectural Heritage Fund		40,000		40,000
Landfill Grant- Capital		24,269	(10,000)	14,269
Customer Community Grant Fund- Capital		27,000	(27,000)
	70,701	107,909	(124,341)	54,269
TOTAL FUNDS	934,539	103,715		1,038,254

continued ...

Page 13

LLANELLI RAILWAY GOODS SHED TRUST

NOTES TO THE FINANCIAL STATEMENTS· continued FOR THE YEAR ENDED 31 MARCH 2024

21. MOVEMENT IN FUNDS • continued

Net movement in funds, included in the above are as follows:

	Incoming	Resources	Movement
	resources	expended	in funds
	£	£	£
Unrestricted funds
General fund	58,997	(63,191)	(4,194)
Restricted funds
Postcode Community Trust		(1,720)	(1,720)
Moondance		(20,840)	(20,840)
National Lottery Heritage Fund- Capital	39,870	(670)	39,200
Architectural Heritage Fund	40,000		40,000
Gallagher Community Fund 2023	1,000	(1,000)
Landfill Grant- Capital	24,269		24,269
National Lottery Community Fund	7,876	(7,876)
Community Fund	500	(500)
Customer Community Grant Fund- Capital	27,000		27,000
	140,515	(32,606)	107,909
TOTAL FUNDS	199,512	(95,797)	103,715

Comparatives for movement in funds

Comparatives for movement in funds
		Net	Transfers
		movement	between	At
	At 1.4.22	in funds	funds	31.3.23
	£	£	£	£
Unrestricted funds
General fund	8,161	13,193	(1,007)	20,347
Designated Asset Fund Capital			843,491	843,491
	8,161	13,193	842,484	863,838
Restricted funds
Llanelli Town Council - Remembrance Day
Events	399	(399)
Railway Heritage Trust Grant	390,000	(7,813)	(382,187)
Garfield Weston Foundation	70,992		(70,992)
Carmarthenshire County Council
Targeted Regeneration Investment
programme	298,369		(298,369)
Welsh Water Rain Community Fund	1,000	(1,000)
Postcode Community Trust	9,956	(8,236)		1,720
Pilgrim Trust Grant Great Western Limited Welsh Government CADW	20,000 15,936 25,000	(20,000) 50,000	(15,936) (75,000)
Moondance		20,840		20,840
National Lottery Heritage Fund- Capital		48,141		48,141
	831,652	81,533	(842,484)	70,701
TOTAL FUNDS	839,813	94,726		934,539

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LLANELLI RAILWAY GOODS SHED TRUST

NOTES TO THE FINANCIAL STATEMENTS" continued FOR THE YEAR ENDED 31 MARCH 2024

21. MOVEMENT IN FUNDS • continued

Comparative net movement in funds, included in the above are as follows:

Comparative net movement in funds, included in the abo	ve are as follows:
	Incoming	Resources	Movement
	resources	expended	in funds
	£	£	£
Unrestricted funds
General fund	11,826	1,367	13,193
Restricted funds
Llanelli Town Council - Remembrance Day
Events		(399)	(399)
Carmartheshire County Council	28,162	(28,162)
Railway Heritage Trust Grant		(7,813)	(7,813)
Welsh Water Rain Community Fund		(1,000)	(1,000)
Postcode Community Trust		(8,236)	(8,236)
Pilgrim Trust Grant		(20,000)	(20,000)
Welsh Government CADW	50,000		50,000
Asda	600	(600)
Moondance National Lottery Heritage Fund- Capital	20,840 49,000	(859)	20,840 48,141
	148,602	(67,069)	81,533
TOTAL FUNDS	160,428	(65,702)	94,726

A current year 12 months and prior year 12 months combined position is as follows:

A current year 12 months and prior year 12 mon	ths combined pos	ition is as follows:
		Net	Transfers
		movement	between	At
	At 1.4.22	in funds	funds	31.3.24
	£	£	£
Unrestricted funds
General fund	8,161	8,999	(1,007)	16,153
Designated Asset Fund Capital			967,832	967,832
	8,161	8,999	966,825	983,985
Restricted funds
Llanelli Town Council - Remembrance Day
Events	399	(399)
Railway Heritage Trust Grant Garfield Weston Foundation	390,000 70,992	(7,813)	(382,187) (70,992)
Carmarthenshire County Council
Targeted Regeneration Investment
programme	298,369		(298,369)
Welsh Water Rain Community Fund	1,000	(1,000)
Postcode Community Trust	9,956	(9,956)
Pilgrim Trust Grant Great Western Limited Welsh Government CADW	20,000 15,936 25,000	(20,000) 50,000	(15,936) (75,000)
National Lottery Heritage Fund- Capital		87,341	(87,341)
Architectural Heritage Fund		40,000		40,000
Landfill Grant- Capital		24,269	(10,000)	14,269
Customer Community Grant Fund- Capital		27,000	(27,000)
	831,652	189,442	(966,825)	54,269
TOTAL FUNDS	839,813	198,441		1,038,254

continued ...

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LLANELLI RAILWAY GOODS SHED TRUST

NOTES TO THE FINANCIAL STATEMENTS· continued FOR THE YEAR ENDED 31 MARCH 2024

21. MOVEMENT IN FUNDS • continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

as follows:
	Incoming	Resources	Movement
	resources	expended	in funds
	£	£	£
Unrestricted funds
General fund	70,823	(61,824)	8,999
Restricted funds
Llanelli Town Council• Remembrance Day
Events		(399)	(399)
Carmartheshire County Council	28,162	(28,162)
Railway Heritage Trust Grant		(7,813)	(7,813)
Welsh Water Rain Community Fund		(1,000)	(1,000)
Postcode Community Trust		(9,956)	(9,956)
Pilgrim Trust Grant Welsh Government CADW	50,000	(20,000)	(20,000) 50,000
Asda	600	(600)
Moondance National Lottery Heritage Fund- Capital	20,840 88,870	(20,840) (1,529)	87,341
Architectural Heritage Fund	40,000		40,000
Gallagher Community Fund 2023	1,000	(1,000)
Landfill Grant- Capital	24,269		24,269
National Lottery Community Fund	7,876	(7,876)
Community Fund	500	(500)
Customer Community Grant Fund- Capital	27,000		27,000
	289,117	(99,675)	189,442
TOTAL FUNDS	359,940	(161,499)	198,441

All restricted funds received which are capital, once spent have been transferred to a designated capital reserve.

Designated capital funds car[r] ied forward represent monies received towards capital expenditure.

These include funding from the following over the last 2 years

Railway Heritage Trust Comprehensive County Council Garfield Weston Foundation Postcode Community Trust Pilgrim Trust Grant Great Western Limited Welsh Government Customer Community Grant Landfill grant National Lottery Heritage Fund

22. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2024.

Page 16

LLANELLI RAILWAY GOODS SHED TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

	2024	2023
	£	£
INCOME AND ENDOWMENTS
Donations and legacies
Donations	2.707	1,835
Members subscriptions	60	65
	2,767	1,900
Other trading activities
Fundraising events		863
Cafe income	2,056
Room Hire	688	210
	2,744	1,073
Investment income
Rents received	49,137	11,463
Charitable activities
Grants	143,386	145,992
Other income	1,478
	144,864	145,992
Total incoming resources	199,512	160,428
EXPENDITURE
Charitable activities
Wages	38,200	23,174
Insurance	12,060	16,325
Cleaning	3,402	1,743
Office Running Costs	12,462	6,718
Legal and professional fees	4,334
Vat recovered	(4,409)	(1,820}
Food	2,000	592
Phase 1 Revenue costs	18,221	14,500
Capital spend below £500	2,254	2,204
Improvements to property Depn of fixtures and fittings	1,009 1,018
	90,551	63,436
Other
Bank loan interest	112
Support costs
Support costs Accountancy and legal fees	5,134	2,266
Total resources expended	95,797	65,702
Net income	103,715	94,726

This page does not form part of the statutory financial statements

Page 17