||||Page| |---|---|---|---| |Legal and administrative|information||| |Trustees' report|||2 - 13| |Auditor's
report to the|trustees||14 - 17| |Consolidated
statement|offinancial|activities|18| |Consolidated
balance sheet|||| |Charity balance sheet|||20| |Consolidated
statement|ofcash flows||21-22| |Notes to the financial
statements|||23 - 39| ## ## |Charity Number|Charity Number||1164157|| |---|---|---|---|---| |Company|Registration|Number|00519844|| |Business Address|||Riverside Depot|| ||||Harbour Road|| ||||Seaton|| ||||Devon|| ||||EX122NQ|| ||||www. tram.co.uk|| ||||infotram.
co.uk|| |Registered|Office||Riverside Depot|| ||||Harbour Road|| ||||Seaton|| ||||Devon|| ||||EX122NQ|| |Trustees|||Nicola EStone|| ||||Mark A Horner|| ||||David W Keay|| ||||Bruce C Warnes|| |Chief Executive Officer|||Jennifer M Nunn|| |Auditors|||Westcotts (SW)LLP|| ||||Timberly|| ||||South Street|| ||||Axminster|| ||||Devon|| ||||EXI35AD|| |Bankers|||Lloyds Bank|| ||||The Square|| ||||Seaton|| ||||Devon|| ||||EX122QH|| |Solicitors|||Dunn and Baker|| ||||21-22 Southernhay|East| ||||Exeter|| ||||Devon|| ||||Exl 1QQ|| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||||Year ended|Year ended|Year ended|Year ended| |---|---|---|---|---|---|---|---|---| ||||||31/12/2022|31/12/2022|31/12/2022|31/12/2021| ||||||Unrestricted|Restricted|Total|Total| ||||||funds|funds|funds|funds| |||||Notes||||| |Income and endowments|||from|||||| |Donations|and|legacies|||62,232|42,000|104,232|702,357| |Charitable|activities||||1,083,272||1,083,272|1,032,076| |Other trading||activities|||424,334||424,334|382,954| |Investments|||||275||275|54| |Other|||||9,585||9,585|50,477| |Total|||||1,579,698|42,000|1,621,698|2,167,918| |Expenditure|on|||||||| |Raising funds||||7|371,690||371,690|306,936| |Charitable|activities|||8|1,392,540|97,724|1,490,264|1,372,796| |Total|||||1,764,230|97,724|1,861,954|1,679,732| |Net movement|in funds||||(184,532)|(55,724)|(240,256)|488,186| |Total funds brought forward|||||6,022,370|341,255|6,363,625|5,875,439| |Total funds carried forward|||||5,837,838|285,531|6,]23,369|6,363,625| ## ## |||||31/12/2022||31/12/2021| |---|---|---|---|---|---|---| |||Notes|||g|| |Fixed assets||||||| |Tangible assets||15||3,947,272||4,011,080| |Heritage assets||16||2,000,000||2,000,000| |Investments||||||| |||||5,947,272||6,011,080| |Current
assets||||||| |Stock||18|83,315||83,706|| |Debtors||19|82,402||39,449|| |Cash at bank and in hand|||434,211||716,431|| ||||599,928||839,586|| |Creditors: amounts|falling|||||| |due within one year||20|(215,323)||(210,683)|| |Net current asset||||384,605||628,903| |Total assets less current liabilities||||6,331,877||6,639,983| |Creditors: amounts|falling|21||||| |due after one year||||(208,508)||(276,358)| |Net assets||||6,123,369||6,363,625| |Restricted funds||26||285,531||341,255| |Unrestricted
funds:||27||||| |Designated
funds||||||| |Unrestricted
funds||||3,734,853||3,919,385| |Called up share capital||||23,781||23,781| |Revaluation
reserve||||2,079,204||2,079,204| |Total funds||||6,123,369||6,363,625| ## ## |||||31/12/2022||31/12/2021| |---|---|---|---|---|---|---| |||Notes|g|||| |Fixed assets||||||| |Tangible assets||15||3,947,272||4,011,080| |Heritage assets||16||2,000,000||2,000,000| |Investments||||50,000||50,000| |||||5,997,272||6,061,080| |Current assets||||||| |Stock||18||||| |Debtors||19|249,545||179,879|| |Cash at bank and in hand|||260,319||562,416|| ||||509,864||742,295|| |Creditors: amounts|falling|||||| |due within
one year||20|(210,698)||(198,832)|| |Net current asset||||299,166||543,463| |Total assets less current liabilities||||6,296,438||6,604,543| |Creditors: amounts|falling|21||||| |due after one year||||(208,508)||(276,358)| |Net assets||||6,087,930||6,328,185| |Restricted funds||26||285,531||341,255| |Unrestricted
funds:||27||||| |Designated
funds||||||| |Unrestricted
funds||||3,699,414||3,883,945| |Called up share capital||||23,781||23,781| |Revaluation
reserve||||2,079,204||2,079,204| |Total funds||||6,087,930||6,328,185| ## ## |||Year ended|Year ended|Year ended|Year ended| |---|---|---|---|---|---| |||31/12/2022|31/12/2022|31/12/2022|31/12/2021| |||Unrestricted|Restricted|Total|Total| |||funds|funds|funds|funds| |Cash flows from operating
activities:|||||| |Net income for the reporting
period|||||| |(as per the Statement
ofFinancial Activities)||(184,535)|(55,724)|(240,259)|488,186| |Adjustments
for:|||||| |Depreciation
oftangible fixed assets||161,312|22,369|183,681|164,582| |(Protit)/loss
on disposal oftangible F.A.|||||(934)| |Other interest receivable||(275)||(275)|(54)| |Income from investment
properties||(9,087)||(9,087)|(7,920)| |Revaluation
ofheritage assets|||||| |Revaluation
ofinvestment
prop.|||||| |Changes
in:|||||| |(Increase)/decrease
in stock||391||391|2,989| |(Increase)/decrease
in debtors||(42,953)||(42,953)|18,844| |Increase/(decrease)
in creditors||4,640||4,640|(35,622)| |Cash generated
from operations||(70,507)|(33,355)|(103,862)|630,031| |Interest received||275||275|54| |Net cash provided
by operating|activities|(70,232)|(33,355)|(103,587)|630,085| |Cash flows from investing
activities:|||||| |Purchase oftangible
assets||(119,870)||(119,870)|(50,348)| |Proceeds from sale oftangible F.A.|||||934| |Rents from investments||9,087||9,087|7,920| |Net cash provided
by investing|activities|(110,783)||(110,783)|(41,494)| |Cash flows from flnancing activities:|||||| |Repayment
ofborrowings||(67,850)||(67,850)|(555,640)| |Cash inflow from boirowings|||||| |Net cash provided
by financing|activities|(67,850)||(67,850)|(555,640)| |Total net cash movements||(248,865)|(33,355)|(282,220)|32,951| |Cash and cash equivalents
at start ofyear||683,076|33,355|716,431|683,480| |Cash and cash equivalents
at year end||434,211||434,211|716,431| ## ## ||||Year ended|Year ended|Year ended|Year ended| |---|---|---|---|---|---|---| ||||31/12/2022|31/12/2022|31/12/2022|31/12/2021| ||||Unrestricted|Restricted|Total|Total| ||||funds|funds|funds|funds| ||||||g|| |Cash in hand|||434,211||434,211|716,431| |Overdraft|facilities repayable|on demand||||| ||||434,211||434,211|716,431| |Analysis|ofchanges in net debt|||||| ||||As at||Other|As at| ||||01/01/2022|Cash flow|changes|31/12/2022| ||||g|||| |Cash|||716,431|(282,220)||434,211| |Overdraft|repayable
on demand|||||| |Loans falling due within one||year|(40,000)|(14,212)||(54,212)| |Loans due|after more than one year||(276,358)|67,850||(208,508)| |Hire purchase —less than one year||||||| |Hire purchase —more than one year||||||| ||||400,073|(228,582)||171,491| ## ## ## ## ## ## ## ## ## ## ## |Freehold land|No depreciation|charge| |---|---|---| |Assets under construction|No depreciation|charge| |Short leasehold
property|Straight line over the lease term|| |Freehold property|2% straight line|| |Buildings|2% straight line|| |Plant and machinery|10%and 20% straight line|| ## ## ## ## ## ## ## ## ## ## ## ## ## ## |onations
an|d legacies||||| |---|---|---|---|---|---| |||Year ended|Year ended|Year ended|Year ended| |||3V12/2022|31/12/2022|31/12/2022|31/12/2021| |||Unrestricted|Restricted|Total|Total| |||funds|funds|funds|funds| |Donations||540||540|1,164| |Gift aid||52,692||52,692|62,473| |Government|grants|5,000||5,000|]20,14I| |Grants||4,000|42,000|46,000|5]8,579| |||62,232|42,000|104,232|702,357| ## ||||Year ended|Year ended|Year ended|Year ended| |---|---|---|---|---|---|---| ||||31/12/2022|31/12/2022|31/12/2022|31/12/2021| ||||Unrestricted|Restricted|Total|Total| ||||funds|funds|funds|funds| ||||||t|| |Admission|- tram|fares|843,063||843,063|838,376| |Admission|- themed tram fares||225,291||225,291|188,862| |Tours, experience||days and other|14,918||14,918|4,838| ||||1,083,272||1,083,272|1,032,076| |Other trading
activities||||| |---|---|---|---|---| ||Year ended|Year ended|Year ended|Year ended| ||31/12/2022|31/12/2022|31/12/2022|31/12/2021| ||Unrestricted|Restricted|Total|Total| ||funds|funds|funds|funds| ||||K|| |Gift shop and cafe (incl, subsidiary)|409,913||409,913|349,135| |Advertising|5,334||5,334|(384)| |Rent and service charges|9,087||9,087|7,920| |Other||||26,283| ||424,334||424,334|382,954| ## ||||Year ended|Year ended|Year ended|Year ended| |---|---|---|---|---|---|---| ||||31/12/2022|31/12/2022|31/12/2022|31/12/2021| ||||Unrestricted|Restricted|Total|Total| ||||funds|funds|funds|funds| ||Bank|interest|275||275|54| ||||275||275|54| |6.|Other|||||| |Other|||||| |---|---|---|---|---|---| |||Year ended|Year ended|Year ended|Year ended| |||31/12/2022|31/12/2022|31/12/2022|31/12/2021| |||Unrestricted|Restricted|Total|Total| |||funds|funds|funds|funds| |Wayleave||8||8|8| |Insurance|claims|9,577||9,577|46,326| |Other goods and services|||||| |Tax relief|||||4,i43| |||9,585||9,585|50,477| |Raising f|unds||||||||| |---|---|---|---|---|---|---|---|---|---| |||||||Year ended|Year ended|Year ended|Year ended| |||||||31/12/2022|31/12/2022|31/12/2022|31/12/2021| |||||||Unrestricted|Restricted|Total|Total| |||||||funds|funds|funds|funds| |Purchases|and|direct|costs|||147,129||i47,129|115,587| |Direct staff costs||||||167,810||167,810|155,117| |Rates and|waste disposal|||||2,854||2,854|3,983| |Light and|heat|||||34,325||34325|12,182| |Maintenance,||repairs|and uniforms|||5,445||5,445|8,097| |Bank charges||and merchant||fees||6,208||6,208|5,034| |Other support||and governance|||costs|7,919||7,919|6,939| |||||||37i,690||371,690|306,939| ## ## ## |.
Charitable
activities||||| |---|---|---|---|---| ||Year ended|Year ended|Year ended|Year ended| ||31/12/2022|31/12/2022|31/I2/2022|31/12/2021| ||Unrestricted|Restricted|Total|Total| ||funds|funds|funds|funds| |Direct staff costs (incl. training)|482,658|20,676|503,334|436,149| |Contract labour costs|7,784||7,784|10,778| |Thcmcd fare costs|109,368||109,368|71,932| |Fleet, track and overhead repairs|91,485|36,728|128,213|188,696| |Engineering
and equipment
costs|22,968||22,968|33,606| |Property
maintenance
and repairs|34,758||34,758|32,435| |Uniforms
and protective clothing|5,452||5,452|3,833| |Consumablcs
and sundries|17,605||17,605|11,487| |Olfice equipment
(incl. equip, hire)|2,293||2,293|3,149| |Power, light and heat|36,018||36,018|21,126| |Rent, rates, cleaning
and waste disposal|27,346||27,346|22,965| |Insurance|35,966||35,966|35,151| |Advertising,
promotion
and website|43,971||43,971|34,012| |Communicauon
and IT|17,613||17,613|17,939| |Printing
postage and stationery|8,598||8,598|8,488| |Legal fees|18,293||18,293|1,273| |Professional
fees and subscriptions|12,090||12,090|6,365| |Audit and accountancy
fccs|12,116||12,116|11,632| |Bank charges and merchant
lees|10,912||10,912|12,513| |Interest ctsarges (incl. hire purchase)|11,016||11,016|10,432| |Other support and governance
costs|205,597||205,597|183,870| |IqLHF activities and related expenses|17,321|]7,952|35,273|51,317| |Dcprcciation|161,312|22,368|183,680|164,582| |Depreciation
eliminated
on disposal||||| |Gains on disposal offixed assets||||(934)| ||1,392,540|97,724|1,490,264|1,372,796| ## ## |alysis of|supp|ort
c|osts|||||| |---|---|---|---|---|---|---|---|---| ||||||||Year ended|Year ended| ||||||Raising|Charitable|31/12/2022|31/12/2021| ||||||funds|activities|Total|Total| |||||||g||| |Governance||||||||| |Directors'|and|officers* insurance||||943|943|882| |Directors'|meetings,||travel and subsistence|||1,803|1,803|1,551| |Humau
Resources||||||||| |Administrative||and|management|staff|7,919|202,851|210,770|188,376| ||||||7,919|205,597|213,516|190,809| ## ## |et incomi|ng|resources|for the|year|||| |---|---|---|---|---|---|---|---| |||||||Year ended|Year ended| |||||||31/12/2022|31/12/2021| |Net incoming||resources|are stated after charging:||||| |Depreciation||and other|amounts|written offtangible fixed assets||183,680|164,582| |Auditor's|remuneration||and other accountancy||services|12,116|11,632| |Gains on|disposals oftangible|||fixed assets|||(934)| |||||||195,796|175,280| ## ## ## |mployment
costs||||| |---|---|---|---|---| ||||Year ended|Year ended| ||||31/12/2022|31/12/2021| ||||g|| |Wages and salaries|||808,902|721,438| |Social security costs|||54,812|44,256| |Pension costs (contributions||and scheme fees)|13,677|9,511| |Staff recruitment,|training|and welfare costs|4,523|4,029| ||||881,914|779,234| ## ||Year ended|Year ended| |---|---|---| ||3V12/2022|31/12/2021| ||Number|Number| |Parent|37|37| |Subsidiary|14|13| |Total employees|51|50| ## ## |||||||% ofequity| |---|---|---|---|---|---|---| |||||||share capital| |Name ofsubsidiary||||Country|ofincorporation|held| |Seaton Tramway
(Enterprises)||Limited||England|and Wales|100| |Seaton Tramway|(Enterprises)||Limited|(company number 09712545)||| |Summary oftrading results|||Year ended|Year ended| |---|---|---|---|---| ||||31/12/2022|31/12/2021| |||||g| |Turnover|||410,005|375,427| |Total expenditure|||(379,034)|(308,020)| |Net profit for the year|||30,971|67,407| |Amount
gift-aided to the charity|||(30,971)|(56,153)| |Retained profit||||11,254| |The assets and liabilities ofSeaton Tramway||(Enterprises)|Limited were:|| |Fixed assets||||| |Current assets|||257,208|237,768| |Liabilities falling due within|1 year||(171,768)|(152,328)| |Funds|||85,440|85,440| ## ## |15.|Tangible fixed assets|Freehold|Short leasehold|Plant,||| |---|---|---|---|---|---|---| ||ofthe group|land and|land and|equipment|Assets under|| |||buildings|buildings|and fixtures|construction|Total| ||||||K|| ||Cost|||||| ||At 1 January 2022|1,103,232|2,749,249|1,086,592|392,237|5,331,310| ||Additions|||119,870||119,870| ||Transfer|392,237|||(392,237)|| ||At 31 December 2022|1,495,469|2,749,249|1,206,462||5,451,180| ||Depreciation|||||| ||At I January 2022|347,795|190,666|781,769||1,320,230| ||Charge for the year|17,186|54,985|111,507||183,678| ||At 31 December 2022|364,981|245,65]|893,276||],503,908| ||Net book values|||||| ||At 31 December 2022|1,130,488|2,503,598|313,186||3,947,272| ||At 31 December 2021|755,437|2,558,583|304,823|392,237|4,011,080| ## |Heritage assets -heritage trams|Heritage|Total| |---|---|---| ||Trams|31/12/2022| |At
1 January 2022|2,000,000|2,000,000| |Revaluation||| |At 31December 2022|2,000,000|2,000,000| ## |ixed asset|investments||||| |---|---|---|---|---|---| |||Group|Group|Charity|Charity| |||31/12/2022|31/12/2021|31/12/2022|31/12/2021| |||g||g|| |Historical|costs|||50,000|50,000| ## |18.|Stock|||||||||| |---|---|---|---|---|---|---|---|---|---|---| ||||||||Group|Group|Charity|Charity| ||||||||31/12/2022|31/12/2021|31/12/2022|31/12/2021| ||||||||g||g|| ||Closing|stock|||||83,315|83,706||| ||||||||83,315|83,706||| |19.|Debtors|||||||||| ||||||||Group|Group|Charity|Charity| ||||||||31/12/2022|31/12/2021|31/12/2022|31/12/2021| ||All amounts||fall due in less than|||I year|g|||g| ||Trade debtors||||||6,199|4,884|6, 199|4,884| ||Other debtors||||||3,175|4,680|11,430|10,371| ||Prepayments|||and accrued income|||73,028|29,885|73,028|29,885| ||Amounts|due||from subsidiary|undertakings||||158,888|134,739| ||||||||82,402|39,449|249,545|179,879| ## ## |for|the year ended 31Decemb|er 2022||||| |---|---|---|---|---|---|---| |20.|Creditors|||||| ||||Group|Group|Charity|Charity| ||||31/12/2022|31/12/2021|31/12/2022|31/12/2021| ||All amounts
fall due in less than|I year||||| ||Trade creditors||53,414|95,223|49,556|86,473| ||Other creditors|||5,000||5,000| ||Accruals and deferred income||97,405|60,846|93,956|58,173| ||Social security
and other taxes||10,292|9,614|12,974|9,186| ||Short term loans and overdrafts||54,212|40,000|54,212|40,000| ||Hire purchase|||||| ||Amounts
due to subsidiary
undertakings|||||| ||||215,323|2]0,683|210,698|198,832| |21.|Creditors|||||| ||||Group|Group|Charity|Charity| ||||31/12/2022|31/12/2021|31/12/2022|31/12/2021| ||All amounts
fall due after I year|||K||| ||Bank loans||208,508|276,358|208,508|276,358| ||Hire purchase|||||| ||||208,508|276,358|208,508|276,358| ## ## ||||Group|Group|Charity|Charity| |---|---|---|---|---|---|---| ||||31/12/2022|31/12/2021|31/12/2022|3V12/2021| |Audit|||3,895|3,623|3,895|3,623| |Other|accountancy|services|8,221|8,009|4,830|5,565| ||||12,116|]1,632|8,725|9,188| ## ## ## |||||Unrestricted|Restricted|Total| |---|---|---|---|---|---|---| |||||31/12/2022|3I/12/2022|31/12/2022| |Fund balances||as represented|by:|||| |Tangible|fixed|assets||3,661,741|285,531|3,947,272| |Heritage|assets|||2,000,000||2,000,000| |Investments||||||| |Current|assets|||599,928||599,928| |Current|liabilities|||(215,323)||(215,323)| |Long term liabilities||||(208,508)||(208,508)| |||||5,837,838|285,531|6,123,369| |Comparative||year||||| |||||Unrestricted|Restricted|Total| |||||31/12/2021|31/12/2021|31/12/2021| |Fund balances||as represented|by:|||| |Tangible|fixed|assets||3,703,180|307,900|4,011,080| |Heritage|assets|||2,000,000||2,000,000| |Investments||||||| |Current|assets|||806,231|33,355|839,586| |Current|liabilities|||(210,683)||(210,683)| |Long term liabilities||||(276,358)||(276,358)| |||||6,022,370|341,255|6,363,625| ||||Unrestricted|Restricted|Total| |---|---|---|---|---|---| ||||31/12/2022|31/12/2022|31/12/2022| |Fund balances as represented||by.|||| |Tangible|fixed assets||3,661,741|285,531|3,947,272| |Heritage|assets||2,000,000||2,000,000| |Investments|||50,000||50,000| |Current|assets||509,864||509,864| |Current|liabilities||(210,698)||(210,698)| |Long term liabilities|||(208,508)||(208,508)| ||||5,802,399|285,531|6,087,930| ## ## ## |||||Unrestricted|Restricted|Total| |---|---|---|---|---|---|---| |||||31/12/2021|31/12/2021|31/12/2021| |Fund balances
as represented||by:|||I|| |Tangible fixed assets||||3,703,180|307,900|4,011,080| |Heritage assets||||2,000,000||2,000,000| |Investments||||50,000||50,000| |Cunent assets||||708,940|33,355|742,295| |Current liabilities||||(198,832)||(198,832)| |Long term liabilities||||(276,358)||(276,358)| |||||5,986,930|341,255|6,328,185| |Group restricted funds|-|2022||||| |||||At IJan|Incoming|Outgoing
At 31Dec| |||||2022|resources|resources
2022| |Culture Recovery Fund||||18,000||(2,000)
16,000| |Travels through
Heritage|and the||Axe Valley|199,824|42,000|(71,208)
170,616| |Wetland
Halt Project||||100,143||(4,148)
95,995| |Seaton Tram Station||||20,003||(20,003)| |EDDC AONB Grant||||3,285||(365)
2,920| |||||341,255|42,000|(97,724)
285,531| ## ## ## |Group restricted
funds|- 2021||||| |---|---|---|---|---|---| |||At IJan|Incoming|Outgoing|At 31Dec| |||2021|resources|resources|2021| |Culture Recovery Fund||209,750|435,050|(626,800)|18,000| |Travels through
Heritage|and the Axe Valley|199,825|79,879|(79,880)|199,824| |Wetland Halt Project||100,499||(356)|100,143| |Seaton Tram Station||40,005||(20,002)|20,003| |EDDC AONB Grant|||3,650|(365)|3,285| |||550,079|518,579|(727,403)|341,255| ## ## ## ## |Group unrestricted|Group unrestricted|funds - 2022|At|||||At| |---|---|---|---|---|---|---|---|---| ||||IJanuary|Incoming|Outgoing|||31December| ||||2022|resources|resources|Revaluations||2022| |Unrestricted|funds ofthe group||6,022,370|1,579,698|(1,764,230)|||5,837,838| |Charity unrestricted||funds - 2022|At|||||At| ||||1January|Incoming|Outgoing|||31December| ||||2022|resources|resources|Revaluations||2022| |||||g||||| |Unrestricted|funds ofthe charity||5,986,930|1,175,717|(1,360,248)|||5,802,399| |Group unrestricted||funds - 2021|At|||||At| ||||IJanuary|Incoming|Outgoing|||31December| ||||2021|resources|resources|Revaluations||2021| ||||||||g|| |Unrestricted|funds ofthe group||5,325,360|1,649,339|(952,329)|||6,022,370| |Charity unrestricted||funds - 2021|At|||||At| ||||IJanuary|Incoming|Outgoing|||31December| ||||2021|resources|resources|Revaluations||2021| ||||g|||||| |Unrestricted|funds ofthe charity||5,301,175|1,277,836|(592,081)|||5,986,930| ## ## ## ## ## ##