2020-12-31-accounts

Charity Registration Number: 1166144

Historical Model Railway Society

Accounts

For the Year Ending 31 December 2020

JANE ASCROFT ACCOUNTANCY LIMITED

Chartered Accountants Enterprise House Harmire Enterprise Park Barnard Castle County Durham DL12 8XP

Historical Model Railway Society

Accounts

Year Ended 31 December 2020

	Page
Trustees' Annual Report	1
Independent Examiner's Report to the Trustees	4
Statement of Financial Activities	5
Statement of Financial Position	6
Notes to the Accounts	7
The Following Pages Do Not Form Part of the Accounts
Detailed Statement of Financial Activities	17

Historical Model Railway Society

Trustees' Annual Report

Year Ended 31 December 2020

The trustees present their report and the unaudited accounts of the charity for the year ended 31 December 2020.

Objectives and Activities

HMRS is an active Society and Educational Charity with worldwide membership. Its objectives are to provide support to those interested in historically accurate railway modelling and through its publications, library, archives, drawings, photography collections and company stewards to provide information and answer questions from modeller's and railway historians alike. HMRS is often a first point of call for historical railway research. The Society publishes historical railway books and produces transfers for those modelling in 4mm and 7mm scales which form the main element of its trading activities.

Achievements and Performance

During 2020, despite the pandemic, the Society worked to its Management Budget in providing services to Members, preserved railways, the public and a number of business organisations as best they could. The Society has continued to publish Journals and 6 Newsletters per year for members and other interested parties.

During the year "Southern Style - The Southern Railway" was published and sales have been steady. There have not been any Model Railway Exhibitions that we attended as a Society this year, however sales of transfers, books & photographs have continued to be good via the website and dealing with more traders for books direct has shown positive results.

The Society has a permanent Museum and Study Centre at Swanwick Junction, Derbyshire. It has a collection of over 300,000 engineering drawings and over 200,000 photographs. Work has continued through the year with these growing collections to catalogue and make them accessible through the internet or by direct access. The photographs are now being scanned and identified then filed in acid free boxes to preserve them. We have continued to receive new collections for the library, photograph collection, archive and drawing archive.

The Society continues to operate Area Groups some of which meet regularly now via Zoom and are open to the public. Unfortunately the opportunity to sponsor students has been curtailed this year due to the pandemic.

We are indebted as ever to the increasing number of volunteers who help run and support the Society. Over 2020 most of our volunteers have been working from home continuing to catalogue our growing collections. Due to the Midland Railway-Butterley having had to close since March 2020 we have not been able to receive visitors at the M & SC but by spacing out our volunteers over 3 days we have continued to attend when permitted to do so by the Government.

Public Benefit

Our main activities and who we help are described elsewhere in this report. All our charitable activities are undertaken to further our charitable purposes for the public benefit. The Trustees have had regard to the Charity Commission's guidance on public benefit throughout the year when deciding on the activities of the charity. We strive to make our catalogued material available on line wherever possible.

- 1 -

Historical Model Railway Society

Trustees' Annual Report (continued)

Year Ended 31 December 2020

Financial Review

The Society has two main income sources, membership subscriptions and trading activities principally through the sale of books and transfers. The objective of the Society is to provide and develop its services to Members and the public. A rolling 3 years Management Budget is in place with the aim of achieving a minimum of a small operating surplus each year. This is reviewed by the Executive Committee at each meeting and the 3-year programme reviewed annually.

We are actively looking at an extension to the existing premises which are full to bursting and are in discussions with the Midland Railway Trust about this. This has been on hold until we are able to meet again.

We continue to publish books and although we have one in the pipeline we are open to suggestions from possible authors for new publications.

The Society has not increased subscriptions for 5 years, but due to the increased cost of printing and postage, will increase from 2021. The website is continuing to attract more interest in the work and services of the Society along with use of the advertising.

HMRS is a CIO (charity number 1166144) registered with the Charity Commission on 21st March 2016.

Structure, Governance and Management

Up to 13 Trustees are elected annually at the Annual General Meeting which will be held in September this year. It is proposed to do this by Zoom again this time following the success of the 2020 meeting but if possible this may be both Zoom and attendance depending on the situation come September. Each year one fifth of the Trustees retire but if they so wish they can be nominated again. Nominations to be a Trustee is confirmed by 2 members within a set timescale ahead of the AGM. Should there be more than one nomination for a position a ballot will be held which includes postal voting. The rules of the Society make provision for the timescales and process to achieve this. In practice the newsletter of the Society updates Members of the EC position and timescales for nominations.

- 2 -

Historical Model Railway Society

Trustees' Annual Report (continued)

Year Ended 31 December 2020

Reference and Administrative Details

Registered charity name Historical Model Railway Society Charity registration number 1166144 Principal office C/o Butterley Station Ripley Derbyshire DE5 3QZ

The Trustees

Mrs M Garratt (Treasurer) Mr A McGill (Secretary) Mr I J Lewis Mr J Hancock Mr P Godfrey Mr P Godfrey Mr A Straw Mr S Leleux Mr A Jacques Mr I McCormack Mr I Davie

Company Secretary

Mr J Hancock

Independent Examiner Jane Ascroft FCA MA (Cantab) Enterprise House Harmire Enterprise Park Barnard Castle County Durham DL12 8XP

The trustees' annual report was approved on .............................. and signed on behalf of the board of trustees by:

Mr A McGill Charity Secretary

- 3 -

Historical Model Railway Society

Independent Examiner's Report to the Trustees of Historical Model Railway Society

Year Ended 31 December 2020

I report to the trustees on my examination of the accounts of Historical Model Railway Society ('the charity') for the year ended 31 December 2020.

Responsibilities and Basis of Report

As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent Examiner's Statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

Jane Ascroft FCA MA (Cantab) Independent Examiner

Enterprise House Harmire Enterprise Park Barnard Castle County Durham DL12 8XP

- 4 -

Historical Model Railway Society

Statement of Financial Activities

Year Ended 31 December 2020

			2020		2019
		Unrestricted	Restricted
		funds	funds	Total funds	Total funds
	Note	£	£	£	£
Income and endowments
Donations and legacies	4	82,719	–	82,719	52,246
Other trading activities	5	39,912	–	39,912	51,547
Investment income	6	366	89	455	695
		─────────	────	─────────	─────────
Total income		122,997	89	123,086	104,488
		═════════	════	═════════	═════════
Expenditure
Expenditure on raising funds:
Costs of other trading activities	7	14,547	–	14,547	24,594
Expenditure on charitable activities	8,9	53,862	–	53,862	61,511
		─────────	────	─────────	─────────
Total expenditure		68,409	–	68,409	86,105
		═════════	════	═════════	═════════
		─────────	────	─────────	─────────
Net income		54,588	89	54,677	18,383
		═════════	════	═════════	═════════
Transfers between funds		(1,014)	1,014	–	–
		─────────	───────	─────────	─────────
Net movement in funds		53,574	1,103	54,677	18,383
Reconciliation of funds
Total funds brought forward		593,727	6,279	600,006	581,623
		─────────	───────	─────────	─────────
Total funds carried forward		647,301	7,382	654,683	600,006
		═════════	═══════	═════════	═════════

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 7 to 15 form part of these accounts.

- 5 -

Historical Model Railway Society

Statement of Financial Position

31 December 2020

		2020		2019
	Note	£	£	£
Fixed Assets
Tangible fixed assets	15		235,491	224,475
Current Assets
Stocks	16	104,978		80,889
Debtors	17	2,067		3,148
Cash at bank and in hand		314,043		293,073
		─────────		─────────
		421,088		377,110
Creditors: amounts falling due within one year	18	1,896		1,579
		─────────		─────────
Net Current Assets			419,192	375,531
			─────────	─────────
Total Assets Less Current Liabilities			654,683	600,006
			─────────	─────────
Net Assets			654,683	600,006
			═════════	═════════
Funds of the Charity
Restricted funds			7,382	6,279
Unrestricted funds			647,301	593,727
			─────────	─────────
Total charity funds	19		654,683	600,006
			═════════	═════════

These accounts were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by:

Mrs M Garratt (Treasurer) Trustee

The notes on pages 7 to 15 form part of these accounts.

- 6 -

Historical Model Railway Society

Notes to the Accounts

Year Ended 31 December 2020

1. General Information

The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is C/o Butterley Station, Ripley, Derbyshire, DE5 3QZ.

2. Statement of Compliance

These accounts have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.

3. Accounting Policies

Basis of Preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investments measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

The entity is a Public Benefit Entity.

Going Concern

There are no material uncertainties about the charity’s ability to continue.

Judgements and Key Sources of Estimation Uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The trustees consider that there are no significant estimates or judgements affecting these financial statements.

Fund Accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the purposes of the charity.

Designated funds are unrestricted funds earmarked by the trustees for specific purposes.

Restricted funds are subjected to restrictions on their expenditure imposed by the donor.

- 7 -

Historical Model Railway Society

Notes to the Accounts (continued)

Year Ended 31 December 2020

3. Accounting Policies (continued)

Income

All income is included in the statement of financial activities when the charity is entitled to the income, any performance related conditions attached have been met or are fully within the control of the charity, the income is considered probable and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

Donations and legacy income is received by way of donations, legacies, grants and gifts and is included in full in the Statement of Financial Activities when receivable. Where legacies have been notified to the charity but the criteria for income recognition have not been met, the legacy is treated as a contingent asset and disclosed if material. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.

Donated services and facilities are included at the value to the charity, being the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market.

Investment income is included when receivable.

Income from charitable trading activity is accounted for when earned.

Income from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.

Expenditure

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates:

Costs of raising funds comprise the costs associated with attracting donations, grants and legacies and the costs of trading for fundraising purposes.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis, as set out in the notes to the accounts.

Tangible Assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

- 8 -

Historical Model Railway Society

Notes to the Accounts (continued)

Year Ended 31 December 2020

3. Accounting Policies (continued)

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold Premises & Fittings - 5% reducing balance Library & Exhibition Bookcases - 3% reducing balance & Equipment Office, Computer Equipment & - 10%/25% reducing balance per annum Website Photographic Negatives & - 2% reducing balance Collection Library Books & Archive - 10% reducing balance Models, Layouts & Nameplates - 5% reducing balance

Impairment of Fixed Assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial Instruments

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Accrued income and tax recoverable is included at the best estimate of the amounts receivable at the balance sheet date.

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.

- 9 -

Historical Model Railway Society

Notes to the Accounts (continued)

Year Ended 31 December 2020

3. Accounting Policies (continued)

Creditors

Creditors 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 are normally recognised at their settlement amount after allowing for any trade discounts due.

Taxation

The company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

4. Donations and Legacies

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2020
	£	£	£
Donations
Donations and royalties	32,663	–	32,663
Subscriptions	28,545	–	28,545
Gift aid	8,411	–	8,411
Library and photographic donations	13,100	–	13,100
	────────	────	────────
	82,719	–	82,719
	════════	════	════════
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2019
	£	£	£
Donations
Donations and royalties	14,872	80	14,952
Subscriptions	28,851	–	28,851
Gift aid	8,443	–	8,443
Library and photographic donations	–	–	–
	────────	────	────────
	52,166	80	52,246
	════════	════	════════

- 10 -

Historical Model Railway Society

Notes to the Accounts (continued)

Year Ended 31 December 2020

5. Other Trading Activities

		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2020	Funds	2019
		£	£	£	£
	Sales of publications	10,953	10,953	19,211	19,211
	Sales of transfers	23,911	23,911	25,025	25,025
	Sales of photographic materials	1,910	1,910	1,808	1,808
	Sales of drawings	3,005	3,005	5,073	5,073
	Sales of wagons	33	33	23	23
	Other sales	100	100	407	407
		────────	────────	────────	────────
		39,912	39,912	51,547	51,547
		════════	════════	════════	════════
6.	Investment Income
			Unrestricted	Restricted	Total Funds
			Funds	Funds	2020
			£	£	£
	Bank interest receivable		366	89	455
			════	════	════
			Unrestricted	Restricted	Total Funds
			Funds	Funds	2019
			£	£	£
	Bank interest receivable		685	10	695
			════	════	════
7.	Costs of Other Trading Activities
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2020	Funds	2019
		£	£	£	£
	Costs of other trading activities (see
	page 18)	14,547	14,547	24,594	24,594
		════════	════════	════════	════════
8.	Expenditure on Charitable Activities	by Fund Type
			Unrestricted	Restricted	Total Funds
			Funds	Funds	2020
			£	£	£
	Costs of charitable activities (see page	18)	53,862	–	53,862
			════════	════	════════
			Unrestricted	Restricted	Total Funds
			Funds	Funds	2019
			£	£	£
	Costs of charitable activities (see page	18)	60,811	700	61,511
			════════	════	════════

- 11 -

Historical Model Railway Society

Notes to the Accounts (continued)

Year Ended 31 December 2020

9. Expenditure on Charitable Activities by Activity Type

		Activities
		undertaken	Total funds	Total fund
		directly	2020	2019
		£	£	£
	Costs of charitable activities (see page 18)	53,862	53,862	61,511
		════════	════════	════════
10.	Net Income
	Net income is stated after charging/(crediting):
			2020	2019
			£	£
	Depreciation of tangible fixed assets		11,784	12,254
			════════	════════
11.	Independent Examination Fees
			2020	2019
			£	£
	Fees payable to the independent examiner for:
	Independent examination of the accounts		400 ════	400 ════

12. Staff Costs and Emoluments

The charity does not have any employees and has no plans to have any employees in the foreseeable future.

The average head count of employees during the year was Nil (2019: Nil).

No employee received employee benefits of more than £60,000 during the year (2019: Nil).

13. Trustee Remuneration and Expenses

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.

During the year 4 trustees were reimbursed for travel expenses and payments incurred on behalf of the charity. These payments totalled £2,356 (2019 - 5 trustees were reimbursed £3,767).

14. Transfers Between Funds

During the year £1,014 was transferred from unrestricted funds to restricted funds. This represented the contributions from membership subscriptions to the Educational Award Fund.

- 12 -

Historical Model Railway Society

Notes to the Accounts (continued)

Year Ended 31 December 2020

15. Tangible Fixed Assets

				At
		At 1 January		31 December
		2020	Additions	2020
		£	£	£
	Cost
	Leasehold Premises & Fittings	392,957	–	392,957
	Library & Exhibition Bookcases & Equipment	8,449	–	8,449
	Office, Computer Equipment & Website	37,572	–	37,572
	Photographic Negatives & Collection	69,182	16,300	85,482
	Library Books & Archives	50,000	6,500	56,500
	Models, Layouts & Nameplates	34,081	–	34,081
		─────────	────────	─────────
		592,241	22,800	615,041
		═════════	════════	═════════
				At
		At 1 January	Charge for	31 December
		2020	the year	2020
		£	£	£
	Depreciation
	Leasehold Premises & Fittings	250,299	7,133	257,432
	Library & Exhibition Bookcases & Equipment	7,564	89	7,653
	Office, Computer Equipment & Website	28,996	1,981	30,977
	Photographic Negatives & Collection	25,399	1,502	26,901
	Library Books & Archives	22,784	1,011	23,795
	Models, Layouts & Nameplates	32,724	68	32,792
		─────────	────────	─────────
		367,766	11,784	379,550
		═════════	════════	═════════
			At	At
			31 December	31 December
			2020	2019
			£	£
	Carrying amount
	Leasehold Premises & Fittings		135,525	142,658
	Library & Exhibition Bookcases & Equipment		796	885
	Office, Computer Equipment & Website		6,595	8,576
	Photographic Negatives & Collection		58,581	43,783
	Library Books & Archives		32,705	27,216
	Models, Layouts & Nameplates		1,289	1,357
			─────────	─────────
			235,491	224,475
			═════════	═════════
16.	Stocks
			2020	2019
			£	£
	Publications stock		20,189	14,466
	Transfer stock		84,789	66,423
			─────────	────────
			104,978	80,889
			═════════	════════

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Historical Model Railway Society

Notes to the Accounts (continued)

Year Ended 31 December 2020

17. Debtors

	2020	2019
	£	£
Prepayments and accrued income	1,515	1,574
Other debtors	552	1,574
	───────	───────
	2,067	3,148
	═══════	═══════

18. Creditors: amounts falling due within one year

	2020	2019
	£	£
Accruals and deferred income	400	400
Royalties	1,496	1,179
	───────	───────
	1,896	1,579
	═══════	═══════

19. Analysis of Charitable Funds

Unrestricted funds

Unrestricted funds
					At
	At 1 January			31	December
	2020	Income	Expenditure	Transfers	2020
	£	£	£	£	£
General funds	593,727	122,997	(68,409)	(1,014)	647,301
	═════════	═════════	════════	═══════	═════════
					At
	At 1 January			31	December
	2019	Income	Expenditure	Transfers	2019
	£	£	£	£	£
General funds	575,769	104,398	(85,405)	(1,035)	593,727
	═════════	═════════	════════	═══════	═════════
Restricted funds
					At
	At 1 January			31	December
	2020	Income	Expenditure	Transfers	2020
	£	£	£	£	£
Butterley PHQ	1,430	85	–	–	1,515
Education Award Fund	4,849	4	–	1,014	5,867
	───────	────	────	───────	───────
	6,279	89	–	1,014	7,382
	═══════	════	════	═══════	═══════
					At
	At 1 January			31	December
	2019	Income	Expenditure	Transfers	2019
	£	£	£	£	£
Butterley PHQ	1,347	83	–	–	1,430
Education Award Fund	4,507	7	(700)	1,035	4,849
	───────	────	────	───────	───────
	5,854	90	(700)	1,035	6,279
	═══════	════	════	═══════	═══════

- 14 -

Historical Model Railway Society

Notes to the Accounts (continued)

Year Ended 31 December 2020

19. Analysis of Charitable Funds (continued)

There are two restricted funds:

Museum and Study Centre (M & SC)

This fund was created to build the Museum and Study Centre and is the residual amount from the completion of the building. It is funded by member donations. It has been retained recognising that future expenditure especially of a capital nature will be required on the building. Furthermore the Society was involved in an unsuccessful Lottery Bid with the Midland Railway Trust in 2015 to develop Museum facilities at the Swanwick Junction site. This would have involved expanding the HMRS building for its archive, storage and public access requirements.

The M & SC is part of the Midland Railway Trust's large site at Swanwick Junction. The building is attached to a MRT building and holds a long lease. Further work is required to both buildings to achieve each parties aims and alternative sources of funding are currently being considered.

Educational Award Fund

This separate fund is provided as part of the Society's Educational Charity objectives to provide financial support to individuals or groups looking in to the History of Britain's Railway Heritage. Typically the grants are made to individuals, schools or colleges.

The EAF is funded by an annual levy of HMRS Members.

20. Analysis of Net Assets Between Funds

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2020
	£	£	£
Tangible fixed assets	235,491	–	235,491
Current Assets	413,706	7,382	421,088
Creditors less than 1 year	(1,896)	–	(1,896)
	─────────	───────	─────────
Net assets	647,301	7,382	654,683
	═════════	═══════	═════════
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2019
	£	£	£
Tangible fixed assets	224,475	–	224,475
Current Assets	370,831	6,279	377,110
Creditors less than 1 year	(1,579)	–	(1,579)
	─────────	───────	─────────
Net assets	593,727	6,279	600,006
	═════════	═══════	═════════

21. Other Financial Commitments

The centre at Butterley has been on constructed on land owned by Derbyshire County Council and leased to Midland Railway Trust Limited who have granted a sub-lease to the Society for a term of 79 years from 1 November 2000 to 31 December 2079.

22. Contingencies

The Society has a continuing commitment to comply with the terms of the Underlease between the Society and Midland Railway Trust Limited in regard to the maintenance of the building known as Butterley Museum and Study Centre.

- 15 -

Historical Model Railway Society

Management Information

Year Ended 31 December 2020

The Following Pages Do Not Form Part of the Accounts.

- 16 -

Historical Model Railway Society

Detailed Statement of Financial Activities

Year Ended 31 December 2020

	2020	2019
	£	£
Income and endowments
Donations and legacies
Donations and royalties	32,663	14,952
Subscriptions	28,545	28,851
Gift aid	8,411	8,443
Library and photographic donations	13,100	–
	────────	────────
	82,719	52,246
	────────	────────
Other trading activities
Sales of publications	10,953	19,211
Sales of transfers	23,911	25,025
Sales of photographic materials	1,910	1,808
Sales of drawings	3,005	5,073
Sales of wagons	33	23
Other sales	100	407
	────────	────────
	39,912	51,547
	────────	────────
Investment income
Bank interest receivable	455	695
	────	────
	─────────	─────────
Total income	123,086	104,488
	═════════	═════════

- 17 -

Historical Model Railway Society

Detailed Statement of Financial Activities (continued)

Year Ended 31 December 2020

	2020	2019
	£	£
Costs of other trading activities
Publications	7,678	17,676
Transfers	3,773	3,773
Photographic	1,295	1,310
Drawings	672	1,018
Others	1,129	817
	────────	────────
	14,547	24,594
	────────	────────
Expenditure on charitable activities
Butterley M & SC expenses	5,522	5,007
Library & exhibition expenses	793	2,152
Donations	1,000	–
Insurance	3,089	3,050
Educational Award Fund grants payable	–	700
Area groups	867	2,091
Overall travel costs	605	3,337
Professional fees	953	1,241
Office costs	1,830	1,615
Depreciation	11,784	12,254
Journal	7,208	6,462
Newsletter	8,449	11,788
Website design	6,763	8,980
Membership Administration	4,999	2,834
	────────	────────
	53,862	61,511
	────────	────────
	────────	────────
Total expenditure	68,409	86,105
	════════	════════
	────────	────────
Net income	54,677	18,383
	════════	════════

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