REGISTERED COMPANY NUMBER: 07281796 (England and Wales) REGISTERED CHARITY NUMBER: 1146990
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
FOR
MALTON DODGER LIMITED
Jackson Robson Licence Limited 33-35 Exchange Street Driffield East Yorkshire YO25 6LL
MALTON DODGER LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | to | 6 |
| Notes to the Financial Statements | 7 | to | 12 |
| Detailed Statement of Financial Activities | 13 | to | 14 |
MALTON DODGER LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020
Malton Dodger Ltd was formed to take over the activities of the 'Yorkshire Wolds Railway Restoration Project' and this took place on 1st January 2011. All funds held by the original group were transferred on that date.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The company has constructed a Visitor Centre and small operational heritage railway for the benefit of the public on part of the trackbed of the former Malton & Driffield Junction Railway. Planning permission has been granted for the visitor centre and 0.9 mile of trackwork towards Wetwang. Over the next 3 - 5 years it is anticipated that the railway will be gradually extended.
The objectives are to establish a popular tourist attraction in the East Riding of Yorkshire, including educational and training facilities.
ACHIEVEMENT AND PERFORMANCE
Developments
The successful bid for a significant grant from 'LEADER' enabled major development works to be completed in the year to extend the demonstration line in a southerly direction.
Despite the challenges of 'Covid-19' & work ceasing through lockdowns, the part grant-funded developments were completed in the year, thanks to great efforts by many volunteers both on & off site. A significant section of the platform at 'Fimber Halt' was built & the 'siding' was laid. This has markedly increased the visitor offer available once social restrictions are lifted.
Donations towards the Brake Van & Switch funds allowed further work to proceed with our enthusiastic & skilled volunteer members.
FINANCIAL REVIEW
Fundraising activities
The company's fund-raising activities were severely curtailed in the year due to the national 'Covid-19' restrictions.
The final tranche of the 'LEADER' grant was recieved in the year after the associated site works had been completed.
A 'small business' grant from the East Riding of Yorkshire Council was applied for & gratefully received. Together with reduced site expenditure, this allowed the company to keep close to its financial projections despite the effects of the global pandemic, meaning that the 2021 season could start when restrictions were lifted.
Reserves policy
The company's reserves have increased again during the year. Some reserves are restricted & are represented by specific assets owned by the company.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a company limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
07281796 (England and Wales)
Registered Charity number
1146990
Page 1
MALTON DODGER LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020
Registered office Fimber Halt Beverley Road Fimber Driffield East Yorkshire YO25 3HG
Trustees
J Lidster Retired I Merino Technician P M Robson Chartered Accountant M Brown Salesman Ms C Bowser Director M Jones Director K J Wood Site services operative (resigned 31.12.2020)
Company Secretary
I Merino
Independent Examiner
Geoff Mountain Jackson Robson Licence Limited 33-35 Exchange Street Driffield East Yorkshire YO25 6LL
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ I Merino - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MALTON DODGER LIMITED
Independent examiner's report to the trustees of Malton Dodger Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2020.
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.
Geoff Mountain Jackson Robson Licence Limited 33-35 Exchange Street Driffield East Yorkshire YO25 6LL
Date: .............................................
Page 3
MALTON DODGER LIMITED
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020
| Unrestricted Restricted fund fund Notes £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 19,867 2,601 Charitable activities LEADER - - General 19,640 - Other trading activities 2 2,943 - Investment income 3 - - Total 42,450 2,601 EXPENDITURE ON Raising funds 28,286 2,291 Charitable activities General 540 - Total 28,826 2,291 NET INCOME 13,624 310 RECONCILIATION OF FUNDS Total funds brought forward 58,785 19,809 TOTAL FUNDS CARRIED FORWARD 72,409 20,119 |
2020 Total funds £ 22,468 - 19,640 2,943 - 45,051 30,577 540 31,117 13,934 78,594 92,528 |
2019 Total funds £ 14,435 8,093 - 10,885 5 |
|---|---|---|
| 33,418 26,865 - |
||
| 26,865 | ||
| 6,553 72,041 |
||
| 78,594 |
The notes form part of these financial statements
Page 4
MALTON DODGER LIMITED
BALANCE SHEET 31 DECEMBER 2020
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 7 123,343 Investments 8 1 123,344 CURRENT ASSETS Stocks 9 1,000 Debtors 10 2,343 Cash at bank and in hand 7,027 10,370 CREDITORS Amounts falling due within one year 11 (1) NET CURRENT ASSETS 10,369 TOTAL ASSETS LESS CURRENT LIABILITIES 133,713 ACCRUALS AND DEFERRED INCOME 13 (61,304) NET ASSETS 72,409 FUNDS 14 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted fund £ 20,614 - 20,614 - - 2,463 2,463 - 2,463 23,077 (2,958) 20,119 |
2020 Total funds £ 143,957 1 143,958 1,000 2,343 9,490 12,833 (1) 12,832 156,790 (64,262) 92,528 72,409 20,119 92,528 |
2019 Total funds £ 133,808 1 133,809 1,218 1,630 8,375 11,223 (8,002) 3,221 137,030 (58,436) 78,594 58,785 19,809 78,594 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 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.
The notes form part of these financial statements
Page 5
continued...
MALTON DODGER LIMITED
BALANCE SHEET - continued 31 DECEMBER 2020
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. I Merino - Trustee
The notes form part of these financial statements
Page 6
MALTON DODGER LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
1. 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, with the exception of investments which are included at market value.
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.
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.
Equipment - 10% on reducing balance
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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.
2. OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| Fundraising (net of costs) Sales Sponsorship |
2020 £ 511 1,432 1,000 2,943 |
2019 £ 3,885 5,910 1,090 |
| 10,885 |
continued...
Page 7
MALTON DODGER LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020
3. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 2020 | 2019 | |
| £ | £ | |
| Interest received | - | 5 |
| NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | ||
| 2020 | 2019 | |
| £ | £ | |
| Depreciation - owned assets | 18,259 | 16,509 |
4. NET INCOME/(EXPENDITURE)
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted Restricted fund fund £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 13,211 1,224 Charitable activities LEADER 8,093 - Other trading activities 10,885 - Investment income 5 - Total 32,194 1,224 EXPENDITURE ON Raising funds 25,079 1,786 NET INCOME/(EXPENDITURE) 7,115 (562) RECONCILIATION OF FUNDS Total funds brought forward 51,670 20,371 TOTAL FUNDS CARRIED FORWARD 58,785 19,809 |
Total funds £ 14,435 8,093 10,885 5 |
|---|---|
| 33,418 26,865 |
|
| 6,553 72,041 |
|
| 78,594 |
continued...
Page 8
MALTON DODGER LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020
7. TANGIBLE FIXED ASSETS
| COST At 1 January 2020 Additions Disposals At 31 December 2020 DEPRECIATION At 1 January 2020 Charge for year At 31 December 2020 NET BOOK VALUE At 31 December 2020 At 31 December 2019 8. FIXED ASSET INVESTMENTS MARKET VALUE At 1 January 2020 and 31 December 2020 NET BOOK VALUE At 31 December 2020 At 31 December 2019 There were no investment assets outside the UK. 9. STOCKS Stock of regalia 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayments |
Equipment £ 177,747 45,524 (17,116) 206,155 43,939 18,259 62,198 143,957 133,808 Unlisted investments £ 1 1 1 2020 2019 £ £ 1,000 1,218 2020 2019 £ £ 2,343 1,630 |
|---|---|
continued...
Page 9
MALTON DODGER LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020
| 11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE | YEAR | |||
|---|---|---|---|---|---|
| 2020 | 2019 | ||||
| £ | £ | ||||
| Other loans (see note 12) | - | 8,000 | |||
| Trade creditors | 1 | 2 | |||
| 1 | 8,002 | ||||
| 12. | LOANS | ||||
| An analysis of the maturity of loans is given below: | |||||
| 2020 | 2019 | ||||
| £ | £ | ||||
| Amounts falling due within one year on demand: | |||||
| Loans | - | 8,000 | |||
| 13. | ACCRUALS AND DEFERRED INCOME | ||||
| 2020 | 2019 | ||||
| £ | £ | ||||
| LEADER accrued income | 64,262 | 58,436 | |||
| 14. | MOVEMENT IN FUNDS | ||||
| Net | |||||
| movement | At | ||||
| At 1.1.20 | in funds | 31.12.20 | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 58,785 | 13,624 | 72,409 | ||
| Restricted funds | |||||
| Treble the track | 19,809 | 310 | 20,119 | ||
| TOTAL FUNDS | 78,594 | 13,934 | 92,528 | ||
| Net movement in funds, included in the above are as follows: | |||||
| Incoming | Resources | Movement | |||
| resources | expended | in funds | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 42,450 | (28,826) | 13,624 | ||
| Restricted funds | |||||
| Treble the track | 2,601 | (2,291) | 310 | ||
| TOTAL FUNDS | 45,051 | (31,117) | 13,934 |
continued...
Page 10
MALTON DODGER LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020
14. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.1.19 | in funds | 31.12.19 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 51,670 | 7,115 | 58,785 |
| Restricted funds | |||
| Treble the track | 20,371 | (562) | 19,809 |
| TOTAL FUNDS | 72,041 | 6,553 | 78,594 |
| Comparative net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 32,194 | (25,079) | 7,115 |
| Restricted funds | |||
| Treble the track | 1,224 | (1,786) | (562) |
| TOTAL FUNDS | 33,418 | (26,865) | 6,553 |
| A current year 12 months and prior year 12 months combined position is as follows: |
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.1.19 | in funds | 31.12.20 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 51,670 | 20,739 | 72,409 |
| Restricted funds | |||
| Treble the track | 20,371 | (252) | 20,119 |
| TOTAL FUNDS | 72,041 | 20,487 | 92,528 |
continued...
Page 11
MALTON DODGER LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020
14. 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:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 74,644 | (53,905) | 20,739 |
| Restricted funds | |||
| Treble the track | 3,825 | (4,077) | (252) |
| TOTAL FUNDS | 78,469 | (57,982) | 20,487 |
15. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2020.
Page 12
MALTON DODGER LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 15,766 | 9,152 |
| Members subscriptions | 6,702 | 5,283 |
| 22,468 | 14,435 | |
| Other trading activities | ||
| Fundraising (net of costs) | 511 | 3,885 |
| Sales | 1,432 | 5,910 |
| Sponsorship | 1,000 | 1,090 |
| 2,943 | 10,885 | |
| Investment income | ||
| Interest received | - | 5 |
| Charitable activities | ||
| ERYC SB grant | 10,000 | - |
| LEADER funding | 9,640 | 8,093 |
| 19,640 | 8,093 | |
| Total incoming resources | 45,051 | 33,418 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Insurance | 2,442 | 1,926 |
| Finance costs | 232 | 280 |
| Postage & stationery | 2,691 | 2,559 |
| Subscription | 96 | 66 |
| Equipment hire | 954 | - |
| Repairs and consumables | 5,378 | 2,829 |
| Water rates | 72 | 58 |
| Training | 18 | - |
| Sundries | 31 | 628 |
| Rent | 257 | 318 |
| Telephone | 90 | - |
| 12,261 | 8,664 | |
| Other trading activities | ||
| Purchases (adjusted for stock) | 928 | 1,692 |
| Depreciation of equipment | 17,388 | 16,509 |
| 18,316 | 18,201 | |
| Charitable activities | ||
| Legal fees | 540 | - |
This page does not form part of the statutory financial statements
Page 13
MALTON DODGER LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Total resources expended | 31,117 | 26,865 |
| Net income | 13,934 | 6,553 |
This page does not form part of the statutory financial statements
Page 14