Charity Registration No.. 1176818 Lancaster and Morecambe Model Engineering Society (2018) Accounts Financial Year Ended 31 December 2024 Page 1 LANCASTER AND MORECAMBE MODEL ENGINEERING SIXIETY120181 CONTENTS Charity Detsils Trustee's Report Finanaal Review Receip15 and Payments Account Stslement ofAssets and Liabilities Tangible Fixed Assets and LiabilrtY&5 Dèclaration Annex 1 Reserve Policy 10 Page 2 LANCASTER AND MORECAMBE MODEL ENGINEERING SOCIETY120181 CHARITY DETAILS Trustees Mr G M Brown (Chaimanl MrA Dixon MrA Dunn Mr P Livesl8y Mr G McQuire Mr B Mulholland Mr K Pearso Mrs S Pearson Mr R Pengelly Mr D Wilson Charity Names Lancaster and Morecambe m￿e1 Engineering Society120181 Lant2ster and Morecambe Model Engineènng Society Working name Charity registration number 1176818 Reglstered office 22 Naworth Drive CA3 ODD Scrutine8r5 MrAnthony Msrshall Ms Marga￿t G￿Y Page 3 LANCASTER AND MORECAMBE MODEL ENGINEERING SOCIETY120181 TRUSTEES REPORT FOR THE YEAR ENDED 31 December 2024 The trustees p￿sent their report and a¢¢ounts for the year ended 31 De¢ember 2024. which have been prepared on a receipts and payments basis. The financial statemen18 have been prepared In accordance with th8 charity's constitution and appli¢2ble law. Structure, govemance and management The charity is a Charitable Incorpordled Organisation ICIOI govemed by its constitub'on da18d 7 October 2018. The charity wa8 registered Dn 24 January 2018. The Trustees who have held office during the year are shown on page 3. Objectivos and activities The tharity 15 a model engineering so￿ety based at Cinderbatrow Picnic Site at Yealand Redrnayne. Carnforth, Lancashi￿. The ¢harily OPErates a Miniatu￿ raI￿aY that is open to the publi¢ for [￿e5 on Sundays and Bank Holidays from spring lo autumn and throughout the year on other sp&cified d2ys. The charity also holds events to develop Intere8t in engineering projects. The object of the charily is the advancetnent of public education in engineering through the construction and pertlion of models of engineering. the provision of talks. publi¢ exhibitions. demonstrations and by providing facilities for construction. development and running engineering models. In estsblishing th8 objects and activities of th8 chsrity the Trustees have hsd due regard lo the Charity Commission guidance on public benefi't. Appointments of trustees The tharity is required lo have at lea51 three I￿steeS. Trustees are appointed by the metnbers at the annual general meeting or at any lime as reouityd. New trustees are prowded witt) a Copy of the ¢onslilulion and a Copy of the latest trustees. annual report and statement of a¢¢ounts. A¢hlevemÈnts and ￿￿orMance A full programm8 of passenger train op8rations was held during the 8ummer until the end of October 2024. In addition to the usual Sunday and Bank Holiday operations, the Society also ran trains on Thursdays during summer school hOl￿aYS and this was very well supported by the public. The Society held a programme of evening meetings of general and educational engineering interest which were well SUPPOrted by mernbers. Monthly tnembers running evenings were held from April to the end of the year which were well supported by members of other local Clubs. The Society ran a number of events providing additional benefits to the cotnmunity. an event wa5 held for the chi￿￿en from Camforth County Primary S¢hool and two events for Loyne Spe¢ial S¢hool in Lan¢aster. The Society also took part in an amateur radio event- Railways on the Air. a international event, al which Morecambe Bay Amateur Radio Society provided and 0￿rated 8 radio station. Member8 of the public wer& able to com& and see an amateur radio station in operation and find out more about this fascinating hobby. Work continued on replacernent of points on the main track. Considerable further invesltnent was made in this project with the purchasè of another load of rail which was suffi¢ienl to Complete the whole of the inner track ané should be enough lo Complete two thirds of the outer track. The track improvements will ￿sU11 in a safer and MO￿ Comfortable ride for passenger8. The Society has continued to attract new members, including a signifi'cant number of junior members. indicating our 5ucce5s in inspiring the younger generation with an interest in models and engineering more generally. Many of our new metnbers were allracted by our Gauge 1 Ira¢k. detnonstrating the value of this faulity. Our tnewbership in¢reased lo trver 150. The So¢iety began a project lo set up a Garden Rail layout ad13￿nI lo our Gauge 1 tock. 11 is intended lo extend thls signrficanlly over toming years. It has b&&n a particular attraction for young children. Page 4 Flnanclal revlew The Society's R&s8rwes Policy is shown atAnnex 1. At the end of 2024 the Society's reserve was above tsrgel, but in view of the capitsl projects that the Society plans lo continue in 2025. this surplus is considered reasonable. The main capital projects envi53ged for 2025 and beyond are . Continued replac*ment of main track Upgrade and repla¢emenl of signalling system for main tffj¢k Conslru¢lion of Garden Gauge Ira¢k ConsI￿ctIon of raised Irath for 5" and 3'A" gauge trains which involves rnoving the pU￿1C foolpath in orderto prtsV￿e Spa￿ alongside the existing outer tra Free reserves a8 al 31 December 2024 were £21.203 Income for the year was £19,770 and expenditure wss £20,077. In view of the level of incotne the charity has prepared these accounts on the receipts and payments basis, 5ummarising all money received or paid by the charity during the year. A statement giving details of the assets and liabilities al the end of the year is provided on p￿e 8. Tru$tee$ Statement The Trustees are responsible for the preparation of the accounts In accordance with the requirements of the Charities Act 2011 1.the Act'l. Th? accounts have be8n scrutinised by m8mber8 of the Soc￿ty. as permilled within the Society's rules and as agreed by the Trustees. To the best of their knowledge. the Trustees confirm that.. accounting record8 were kept in r88P8Ct of the charity 88 required by section 130 of th8 Act., and the accounts accord with Ih08e record8.' and the a¢¢ounts comply with the applicable requirements conoming the form and CA)nlènt of accounts 8el out In the Chari11è8 (Accounts and Reportsl R￿UlatIonS 2008. Page 5 LANCASTER AND MORECAMBE MODEL ENGINÉERING SOCIEfY120181 TRUSTEES REPORT FOR THE YEAR ENDED 31 December 2024 This rwrtW8s approved by the Tw$tees on .......... . and $1gned on their behalf. GMBrow Chairman Page 6 Receipts & Pa￿nts Account for the Financial Year Ended 31 Dec 24 Note Financial Year, Jan'24-Dec'24 l Gener81 Design3ted Re$lrided Funds Funds Funds 2023 Total Total ECEIPTS Voluntary Income Track Donation5 Other donations Grants Gift Aid Income Generation Group Booking Incorn& Members. Subs¢npbon$ 3 Sale Of Misc. 118ms Investment Income Charitable Income Mi8cellaneous Sale Of Donated Iterns Asset Sales 9,229 2,248 9.229 2,246 10.172 564 841 4,497 2,192 4.497 2,1g2 2.585 1,065 540 19,770 1.W5 540 19,770 6,825 132 21,152 TOTAL RECEIPTS AYMENTS Cost Of Generating Income Opèrating The Rai￿laY Speaal Events Other 586 310 656 1,551 310 656 1.551 578 578 Sub-total Capltsl Expend￿￿ Main Track Small Track Projec18 Raised Tra Carriage Shed Workshop Equipment 4 Workshop Construction New Rolling Stock Equipment Sub-total 401 75 1,013 401 75 1.013 9,794 228 456 3,500 3.500 4.fj41 280 419 15,823 254 5,242 254 5,242 Re¢urring Costs Rent & Rates Servi￿$ 800 7,362 8,162 7.362 8,162 5.136 5,136 Sub-total Administrdtion Ceneral Administration 5 Other Administrative Sub.toial 827 827 36 1.004 362 1,366 863 Maintaining Fixed Assets 4.258 4,258 1,971 TOTAL PAYMENTS 20.077 20,077 24.874 NET RECEIPTS-PAYMENTS -307 -307 -3,722 Notss 1 Accounting policies These accounts have been prepared on the receipts and payrnents basis. Expendilure 15 indu5ive of VAT. 2 Includes generous donations lotslling £1600 from 3R Foundation for signage and publicty. 3 Membership subscriptions indudes a proportion of subscriptions from both 2024 and 2025. 4 Expenditu￿ for 2024 indudes £3500 for pur¢hase of a deceased memberfs workshop. Sale of surplus equipment will take place In 2025. 5 No rernuneration or other benefits were paid lo the charity's trustees or people connected with them. 6 General administration is expense5 internal to the Sooely. Other adrninistration is expenses incurred with extemal organisalions, in¢luding legal Costs. Page 7 statement of Assets & Liabilities at 31-Dec-24 ash Assets BVFwd at Receipts Payments Trdnsfers 01 Jan 24 In Porfod In Porlod It) Porlod Cd'Fwd at31- D8¢-24 ash at Bank & in Hand Petty ca$h Cash Bank, Current Account 22 40 21,440 21,502 -80 55 -5.409 s.￿4 5,385 14,386 19,782 -15 -19.985 -20.080 21,195 21,203 utstsnding Trdn5actions Rgcèlpts Paym•nts IUnwBs8nts& Chequssj Net TAnsfers Cd'F nvestment Accounts Bank. Deposit A¢¢ount Total Cash As Bt'Fwd Intsrest 21.502 21,203 Notes 1 Pelly cash Pety consists of funds he￿ in the safe at the Cinderbarrow site for the purpose of small purchases of consumables. Cash consists of donatsd funds held by Trustees prior to paying into the bank or transferring to Petty cssh. 2 Cash Tangible Fixed Assets & Liabilities Expenditure incurred on tangible fixed assets in excess of £100, except planning and legal costs. is capitalised. values below that are written off as expenditure in the yearthey are incurred. Depreciation is calculated lo write off the cost of tsngible fixed assets over their estimated useful lives lo the Society. Asset dasses where the value is reduced to under £100 will be removed as insignificant. The depreciation rates and Tnethods are a5 follow5". Equipment- 10% of current value Tock and Fencing- 10% of cur￿nt value Rolling stock- 10% of current value Club House Buildings- straight line basis from 1st January 2000 10 318t D8e8mber 2029 Canopy- 10¥0 of current value Gauge 1 track- 10% of current value The Society has a potential liability, e51itNated at £7000, for cle8rance of the site at the end of the lease or should the Souety be wouné up. This is shown itlow as a charge against total assets. Page B ## Annex 1 Reserves Policy The Society aims to maintain a positive balance of available assets to cover future planned expendrture and unplanned expenses. In developing a Reserves Policy. the Society has considered separate categories of unavoidable recurrent expenditup and discretionary ¢apital expenditure. Considèring fitst thè non-discrètionary expenditu￿, Ih&re ar& considerable rècurring èxpènses which are incurred by the Society In the mainlen8nee of the 811&. 8Uth as rent. elèctricity. buildings maintenance. site maintenance. Th&8& C0818 must all be covered even if th? Society do&s not have any income. Therefore Il is nece888ry to maintain a level of reserve funds to cover any evenlualily where the souety is unable lo generate any income. The Society considers rt prudent lo keep al least one yearfs running costs in hand to cover such cases. The site al Cind&rbarrow is le88ed from L8ncashire County Council, and although we h8v& a long lease, and are hoping to n8gotiate an 8xl&nsion, there is 8hvays the possibility that the lease may be termin8ted at some time in th future. 11 is also possible that the Souety Tnighl be dissofved at sorne lime in the future, for example if there are insufficient mernbers to contsnue. In this event, there is a potential cost which WOU￿ be incurred for 511e clearance i a¢¢ordan¢e with the ￿8$e. Considering that the Society now has Considerable Investment in physical assets. whi¢h could be disposed of to realise significant value. the Society believes that site dearance Costs could be covered by 8uch d18posal. The operation of the [al￿aY and maintenance of the srte requires a considerable quantity of Valuab￿ equiprnenl whi¢h must be both maintained and ￿p1a¢¢d from lime to time The Society must also maintsin a signrfi¢anl reserve of funds available lo cover eX￿pIlon8l &x￿nSeS which inevitably arise from time to limè. such as the replacement of major item8 of equipment. R￿ardIng di$¢￿tIOnary expendrture, in a change from p￿￿0￿$ annual reports. the funds reouired for planned Capital projects are no longer included In the reserve policy. bul are listed In the Financial Revièw on page 5. Calculation of a reasonable reserve target for 2024 Ongoing expendrture if no income Unplanned capital expenditure £7,000 £3,000 Total £10,000 P8ge10