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 2024
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 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | to | 7 |
| Notes to the Financial Statements | 8 | to | 13 |
| Detailed Statement of Financial Activities | 14 | to | 15 |
MALTON DODGER LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
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. "Yorkshire Wolds Railway" (YWR) is now the operating name of Malton Dodger Ltd
OBJECTIVES AND ACTIVITIES
Objectives and aims
The company has constructed a Visitor Centre and is developing an operational heritage railway on part of the trackbed of the former Malton & Driffield Junction Railway.
The objectives are to establish and develop a popular heritage attraction in the East Riding of Yorkshire, promoting education and training.
The charity trustees have complied with the duty in section 4 of the 2011 Act to have due regard to guidance on public benefit published by the Commission.
Public benefit
Being a heritage railway, there is an advancement of culture & heritage together with a public educational benefit.
There is a small museum at Fimber Halt detailing the story of the railway & many unique artefacts have been collected for the public to see. There is specifically a volunteer on hand to inform visitors.
Many presentations about the region's local history & the progress of the railway's restoration are given to local groups. Dedicated running sessions are also provided for interested parties. A record number of regional shows were attended during the year, educating the public about local history and the progress of the YWR.
During 2024, the joint venture with the Hull & Barnsley Railway (HBR) Stock Fund to install and restore an ex-HBR signal box saw the building gain some mechanical equipment from a defunct local railway structure.
The volunteer working teams again continue to increase in size & regularity. They provide skills training & a mutual interest for many participators from the local community. All volunteers are welcome, subject to certain safety & minimum age requirements.
Reports of the railway's progress are regularly made through the quarterly "Malton Dodger" newsletter, together with the railway's website & discussion forum, as well as other social media outlets and newspapers. The YWR also featured in a television programme, bringing welcome national publicity.
The charity trustees have complied with their duty to have due regard to the guidance on public benefit published by the Commission in exercising their powers or duties.
Volunteers
The Yorkshire Wolds Railway is staffed entirely by volunteers, both on & off site. There are no paid workers.
The directors wish to thank all those members & other supporters who have contributed to the railway's success to date.
Page 1
MALTON DODGER LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
ACHIEVEMENT AND PERFORMANCE
Charitable activities
2024 saw visitor numbers increase again together with many 'Driver Experiences' being given. More presentations were delivered to local groups both on and off site.
The shop was relocated for the 2025 season into the vacant coach, further improving accessibility and the visitor experience.
Training for operational volunteers was progressed again. Such training is evidenced as part of the volunteers' competence management system.
The YWR entered into an agreement with the Farwath Area Rolling Stock Team to bring several items of rolling stock to the railway, together with many experienced volunteers. This arrangement has proved very beneficial to both partes and the visiting public.
Displays from local archeology & photographic groups contributed to the increasing 'heritage hub' status to enable the public to visit various offerings within one site, improving sustainability.
Operating income and donations towards the infrastructure and rolling stock funds allowed further restoration work to continue.
During the year, planning permission was granted for a new "Visitor Centre & Working Facility" which was partly built before the year end. This structure is part-funded by the "UK Shared Prosperity Fund" following a successful application at the start of the year.
The building will provide covered space for public displays as well as the ability to view and learn about ongoing projects. In 2025 the YWR will have secure covered accommodation for the first time in its history.
Developments
Operating income & donations towards the Infrastructure & Rolling Stock funds allowed further restoration work to continue.
FINANCIAL REVIEW
Financial position
The company is in a sound financial position with net assets increasing again in the year.
Additionally, many of the assets are stated at depreciated cost (including refurbishments) & generally these values are substantially lower than their market value.
Fundraising activities
The company raised funds during the year to achieve its objectives including increased operational income & special events such as the annual Model Railway show.
Donations were welcomed again during 2024 enabling the railway to improve its visitor experience. The level of donations increased over the 2023 level mainly due to the supporting of specific purchases.
Reserves policy
Some of the reserves are restricted funds which have formerly been treated in the financial statements as Endowment Funds. However, the actual nature of these funds is that of Revenue Funds and accordingly the treatment has been adjusted in these financial statements and the previous year's results have been restated.
The effect of the revised policy is for the restricted funds to be recognised as the balances of monies remaining in associated bank accounts rather than treating the relevant acquired assets as restricted assets.
Such assets previously treated as restricted assets have now been recognised as general assets via a disposal & acquisition adjustment. The net effect is shown as "Transfers between funds" (page 5 and notes 1 & 13).
Page 2
MALTON DODGER LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
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
Registered office
Fimber Halt Beverley Road Fimber Driffield East Yorkshire YO25 3HG
Trustees
J Lidster Retired (resigned 1.7.2024) I Merino Infrastructure Director P M Robson Finance Director M Brown Media & Membership Director Ms C Bowser Business Development Director M Jones Operations Director J.R. Lane Health and Safety Director G Bailey Diesel traction director (resigned 1.7.2024) S Barraclough Rolling Stock Director (appointed 1.7.2024)
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:
........................................................................
M Brown - Trustee
Page 3
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 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.
Geoff Mountain The Institute of Chartered Accountants in England and Wales
Jackson Robson Licence Limited 33-35 Exchange Street Driffield East Yorkshire YO25 6LL Date: .............................................
Page 4
MALTON DODGER LIMITED
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 37,442 Charitable activities General 9,889 Other trading activities 2 43,715 Investment income 3 364 Total 91,410 EXPENDITURE ON Raising funds 20,140 Charitable activities General 38,711 Total 58,851 NET INCOME 32,559 Transfers between funds 12 1,475 Net movement in funds 34,034 RECONCILIATION OF FUNDS Total funds brought forward 133,459 TOTAL FUNDS CARRIED FORWARD 167,493 |
Restricted funds £ - - - - - - - - - (1,475) (1,475) 12,126 10,651 |
2024 Total funds £ 37,442 9,889 43,715 364 91,410 20,140 38,711 58,851 32,559 - 32,559 145,585 178,144 |
2023 Total funds £ 15,311 7,240 24,201 257 |
|---|---|---|---|
| 47,009 | |||
| 16,101 29,098 |
|||
| 45,199 | |||
| 1,810 - |
|||
| 1,810 143,775 |
|||
| 145,585 |
The notes form part of these financial statements
Page 5
MALTON DODGER LIMITED
BALANCE SHEET 31 DECEMBER 2024
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 7 181,247 CURRENT ASSETS Stocks 8 50 Debtors 9 4,459 Cash at bank and in hand 37,445 41,954 CREDITORS Amounts falling due within one year 10 (1,358) NET CURRENT ASSETS 40,596 TOTAL ASSETS LESS CURRENT LIABILITIES 221,843 ACCRUALS AND DEFERRED INCOME 11 (54,350) NET ASSETS 167,493 FUNDS 12 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ - - - 10,650 10,650 1 10,651 10,651 - 10,651 |
2024 Total funds £ 181,247 50 4,459 48,095 52,604 (1,357) 51,247 232,494 (54,350) 178,144 167,493 10,651 178,144 |
2023 Total funds £ 144,922 300 4,197 33,908 38,405 1 38,406 183,328 (37,743) 145,585 133,459 12,126 145,585 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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 6
continued...
MALTON DODGER LIMITED
BALANCE SHEET - continued 31 DECEMBER 2024
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 7
MALTON DODGER LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
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 Sales Sponsorship Scrap sales |
2024 £ 5,600 32,791 278 5,046 43,715 |
2023 £ 3,621 20,347 233 - |
| 24,201 |
continued...
Page 8
MALTON DODGER LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
3. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Interest received | 364 | 257 |
| NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | ||
| 2024 | 2023 | |
| £ | £ | |
| Depreciation - owned assets | 20,140 | 96,607 |
4. NET INCOME/(EXPENDITURE)
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 14,223 Charitable activities General 7,240 Other trading activities 24,202 Investment income 135 Total 45,800 EXPENDITURE ON Raising funds 16,102 Charitable activities General 29,098 Total 45,200 NET INCOME 600 Transfers between funds 40,527 Net movement in funds 41,127 RECONCILIATION OF FUNDS Total funds brought forward 92,332 |
Restricted funds £ 1,088 - (1) 122 1,209 (1) - (1) 1,210 (40,527) (39,317) 51,443 |
Total funds £ 15,311 7,240 24,201 257 |
|---|---|---|
| 47,009 | ||
| 16,101 29,098 |
||
| 45,199 | ||
| 1,810 - |
||
| 1,810 143,775 |
continued...
Page 9
MALTON DODGER LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
| 6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted fund funds £ £ TOTAL FUNDS CARRIED FORWARD 133,459 12,126 7. TANGIBLE FIXED ASSETS Rolling Buildings stock Equipment Infrastructure £ £ £ £ COST At 1 January 2024 28,237 37,395 46,985 143,768 Additions 44,982 7,763 - 3,720 At 31 December 2024 73,219 45,158 46,985 147,488 DEPRECIATION At 1 January 2024 8,843 13,729 18,067 70,824 Charge for year 6,437 3,144 2,892 7,667 At 31 December 2024 15,280 16,873 20,959 78,491 NET BOOK VALUE At 31 December 2024 57,939 28,285 26,026 68,997 At 31 December 2023 19,394 23,666 28,918 72,944 |
Total funds £ 145,585 Totals £ 256,385 56,465 312,850 111,463 20,140 131,603 181,247 144,922 |
Total funds £ |
|---|---|---|
| 145,585 |
Comparative figures for depreciation include 'depreciation on disposals', reflecting the change in accounting policy for reserves & the consequent 'disposals' & 'acquisitions' of assets under revised funds.
8. STOCKS
| Stock of regalia 9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayments |
2024 £ 50 2024 £ 4,459 |
2023 £ 300 |
|---|---|---|
| 2023 £ 4,197 |
continued...
Page 10
MALTON DODGER LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors Other creditors 11. ACCRUALS AND DEFERRED INCOME Grant accrued income 12. MOVEMENT IN FUNDS Unrestricted funds General fund Restricted funds Infrastructure Rolling stock TOTAL FUNDS Net movement in funds, included in the above are as Unrestricted funds General fund TOTAL FUNDS |
At 1.1.24 £ 133,459 1,012 11,114 12,126 145,585 follows: |
Net movement in funds £ 32,559 - - - 32,559 Incoming resources £ 91,410 91,410 |
2024 2023 £ £ - (1) 1,357 - 1,357 (1) 2024 2023 £ £ 54,350 37,743 Transfers between At funds 31.12.24 £ £ 1,475 167,493 180 1,192 (1,655) 9,459 (1,475) 10,651 - 178,144 Resources Movement expended in funds £ £ (58,851) 32,559 (58,851) 32,559 |
|---|---|---|---|
continued...
Page 11
MALTON DODGER LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
12. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund Restricted funds Infrastructure Rolling stock TOTAL FUNDS |
At 1.1.23 £ 92,332 45,195 6,248 51,443 143,775 |
Net movement in funds £ 600 11 1,199 1,210 1,810 |
Transfers between funds £ 40,527 (44,194) 3,667 (40,527) - |
At 31.12.23 £ 133,459 1,012 11,114 |
|---|---|---|---|---|
| 12,126 | ||||
| 145,585 |
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 45,800 | (45,200) | 600 |
| Restricted funds | |||
| Infrastructure | 10 | 1 | 11 |
| Rolling stock | 1,199 | - | 1,199 |
| 1,209 | 1 | 1,210 | |
| TOTAL FUNDS | 47,009 | (45,199) | 1,810 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Infrastructure Rolling stock TOTAL FUNDS |
At 1.1.23 £ 92,332 45,195 6,248 51,443 143,775 |
Net movement in funds £ 33,159 11 1,199 1,210 34,369 |
Transfers between funds £ 42,002 (44,014) 2,012 (42,002) - |
At 31.12.24 £ 167,493 1,192 9,459 |
|---|---|---|---|---|
| 10,651 | ||||
| 178,144 |
continued...
Page 12
MALTON DODGER LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
12. 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 | 137,210 | (104,051) | 33,159 |
| Restricted funds | |||
| Infrastructure | 10 | 1 | 11 |
| Rolling stock | 1,199 | - | 1,199 |
| 1,209 | 1 | 1,210 | |
| TOTAL FUNDS | 138,419 | (104,050) | 34,369 |
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2024.
Page 13
MALTON DODGER LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 28,052 | 6,296 |
| Members subscriptions | 9,390 | 9,015 |
| 37,442 | 15,311 | |
| Other trading activities | ||
| Fundraising | 5,600 | 3,621 |
| Sales | 32,791 | 20,347 |
| Sponsorship | 278 | 233 |
| Scrap sales | 5,046 | - |
| 43,715 | 24,201 | |
| Investment income | ||
| Interest received | 364 | 257 |
| Charitable activities | ||
| Grant amortisation | 9,889 | 7,240 |
| Total incoming resources | 91,410 | 47,009 |
| EXPENDITURE | ||
| Other trading activities | ||
| Depreciation of buildings | 6,437 | 2,156 |
| Depreciation of rolling stock | 3,144 | 2,728 |
| Depreciation of equipment | 2,892 | 3,210 |
| Depreciation of infrastructure | 7,667 | 8,007 |
| 20,140 | 16,101 | |
| Charitable activities | ||
| Water rates | 297 | 70 |
| Insurance | 4,872 | 4,458 |
| Telephone | - | 50 |
| Postage and stationery | 3,402 | 3,056 |
| Advertising & promotion | 2,030 | 564 |
| Sundries | - | 480 |
| Purchases (adjusted for stock) | 5,467 | 4,062 |
| Repairs and consumables | 7,916 | 11,446 |
| Traction & rolling stock costs | 6,985 | - |
| Model rail show costs | 2,143 | - |
| Show costs | 698 | - |
| Rent | 240 | 1,525 |
| Subscriptions | 325 | 312 |
| Waste disposal | 473 | 1,381 |
| Carried forward | 34,848 | 27,404 |
This page does not form part of the statutory financial statements
Page 14
MALTON DODGER LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Charitable activities | ||
| Brought forward | 34,848 | 27,404 |
| Training | 34 | 350 |
| Prises paid | 367 | - |
| Secretarial services | 653 | 630 |
| Professional fees | 1,059 | 300 |
| Finance costs | 533 | 414 |
| Accountancy fees | 1,217 | - |
| 38,711 | 29,098 | |
| Total resources expended | 58,851 | 45,199 |
| Net income | 32,559 | 1,810 |
This page does not form part of the statutory financial statements
Page 15