MARKET DEEPING MODEL RAILWAY CLUB CIO Charity registration number 1187779 Trustees’ report and financial statements for the year ended 31 May 2021 ## **Contents** |Legal and administrative information||2| |---|---|---| |Trustees’ report|3|| |Reporting Examiner’s report|7|| |Statement of fnancial activities||8| |Notes to the fnancial statements||8| MARKET DEEPING MODEL RAILWAY CLUB CIO Charity registration number 1187779 Trustees’ report and financial statements for the year ended 31 May 2021 Name of Charity Market Deeping Model Railway Club CIO Charity Registration No. 1187779 Governing Instrument Constitution Constitution Charitable Incorporated Organisation Charity objects The main objects of the charity as defined by the Constitution are:To advance public education and foster an understanding of the skills, heritage and development of model railways and to develop a high standard of modelling by members of the club Charity Trustees P Davies Chairman A Hancock Secretary B Driscoll Treasurer D Ashwood B Norris S Rouse (Appointed in place of deceased trustee, R Fitzpatrick) President Colin S. Brown Honorary Vice Presidents None Principal address of the charity 47 Deeping St James Road Northborough, Peterborough. PE6 9BT Bankers Barclays Bank 1 Church St, Peterborough. PE1 1XE Solicitors Buckles Solicitors LLP Grant House 101 Bourges Boulevard Peterborough. PE1 1NG Independent Examiner To be appointed at AGM 2 MARKET DEEPING MODEL RAILWAY CLUB CIO Charity registration number 1187779 Trustees’ report and financial statements for the year ended 31 May 2021 ## **Trustees** Suitable personnel are identified by the existing trustees on the basis of their skills and knowledge and invited to become trustees. Newly appointed trustees are provided with copies of the charity’s Constitution, policies and accounts prior to appointment. Guidance on the charity’s ethos and activities is provided by the Chairman and members’ committee. The following trustees retire by rotation at the next annual general meeting and offer themselves for re-election:- P Davies, A Hancock, B Driscoll, D Ashwood, B Norris, S Rouse. (At this, the first AGM of the charity, all trustees must resign but are eligible for re-election. In subsequent AGMs, one third of the trustees will retire in rotation. ## **Organisation structure** The Trustees are responsible for all financial and Constitutional matters. The trustees are an integral part of the club committee structure. The Club Committee, governed by an agreed management document takes day to day club management decisions within the Charity Commission approved Constitution. Officers of the committee include the chairman, secretary and treasurer of the charity (who are all trustees), exhibition manager, social media manager and club membership representatives. As a result of the Covid-19 pandemic, face to face meetings have had to be suspended. All communication and club meetings have been conducted virtually and by video conferencing. ## **Trustees’ Report for the year ended 31 May 2021** Legal and administrative information set out on pages 1 and 2 forms part of this report. The trustees have adopted the provisions of the Charities (SORP FRS102) ‘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 (FRS102). ## **Objects and principal activity of the charity** The Trustees have complied with the duty in Section 17 (5) of the Charities Act 2011 and have had due regard to public benefit guidance published by the Charity Commission in setting the activities required to meet its objects. The charity’s objects are to advance public education and foster an understanding of the skills, heritage and development of model railways and to develop a high standard of modelling by members of the club. The principal activity of the charity during the year was to maintain a level of activity commensurate with the restrictions set out by government due to the Covid-19 pandemic, 3 MARKET DEEPING MODEL RAILWAY CLUB CIO Charity registration number 1187779 Trustees’ report and financial statements for the year ended 31 May 2021 while also negotiating for new premises, accepting and cataloguing a wide range of (continuing) public donations and ensuring the security and useability of those donations. ## **Chairman’s Report 2020** The year has seen the club physically largely in furlough. With meetings unable to take place as a result of pandemic restrictions, everything related to the charity’s objects had to be transferred to the virtual world as far as such things were possible. Sadly, our Youth Projects Coordinator (and a trustee), Rod Fitzpatrick died unexpectedly. With the pandemic’s restrictions, all youth projects went into hibernation, but Rod’s passing made future development in this area harder because of his considerable expertise and experience working with young people. He is sadly missed. Club meetings have continued on Zoom for those able to use the platform with email, post and telephone being the other methods of communication to keep contact with members. Zoom enabled skill exchanges and technique development. Membership has increased slightly during the year. As it became possible, club members provided support and advice to newcomers across the community wishing to develop their skills. The age range of those seeking support ranged widely from teenage to senior citizens. Negotiations for new premises have taken both considerable time and research. The charity is enormously grateful to both its current and prospective new landlords for their patience, fortitude, incredible generosity and support. It is hoped that all negotiations and a move of premises will be complete by the (calendar) year end. Club resources have been monitored carefully with the many donations received being stored securely (and at some cost to the charity). Some work has been possible developing one donated model in particular. The model (of Euston Station as originally constructed) will be a central feature of the club’s annual exhibition in 2022. However, the development of the model from that originally donated has required many hours of research to ensure historical accuracy, the development of new modelling techniques and much patience in construction. Work began to catalogue the club’s extensive library, added to by several superb donations. It is intended that this will become a community resource once the work is finished. Regular articles have been written for the local Press and modelling magazines, encouraging newcomers to start the hobby and describing some of the considerations necessary when wanting to build a model railway. The impact of the 2019 disaster still reverberates. Donations are still being generously offered and received. Four volumes on railway modelling are under production for a publisher. A play, being written by a highly acclaimed playwright, is under development. Members of the club, along with a club layout are involved in the production of a film “short”. The club website is being redeveloped on a new platform and the club’s social media presence is being reevaluated. The club is indebted to its main 2019 sponsors for their continued support. 4 MARKET DEEPING MODEL RAILWAY CLUB CIO Charity registration number 1187779 Trustees’ report and financial statements for the year ended 31 May 2021 As the year has progressed and Covid restrictions have been lifted, it has been possible to work on club layouts (in members’ own garages) and plan for visits, taking layouts in support of other charities’ work. Consideration to resuming some form of “normal” meetings along with outreach development has also become possible. Peter Davies 5 MARKET DEEPING MODEL RAILWAY CLUB CIO Charity registration number 1187779 Trustees’ report and financial statements for the year ended 31 May 2021 ## **Review of Financial Controls** Because of poor service and a lack of on line facilities. The trustees decided to change the charity’s bankers. The new Bankers (Barclays) have provided far improved security, online payment options and a personal support service during the changeover. So poor was the experience with the previous bank that the charity benefitted from a compensation payment of £500 from them. ## **Investment policy** The charity’s investment powers are set out in its Constitution. The Trustees consider the day to day cash flow requirements of the charity are such that surplus funds need to be held on a short, rather than a long term basis. Cash funds are monitored on a regular basis and where possible are invested on short term deposit. ## **Reserves Policy** The Trustees aim is to create sufficient reserves to ensure the charity’s long term viability and in particular to support the development of future projects and exhibitions. Based on budgets of income and expenses, the trustees are satisfied that, despite finances committed to new premises, the Club will be financially viable and that an adequate level of reserves can be retained at 31 May 2022 to allow the Charity to continue to meet its objects. ## **Risk Management** The Trustees have assessed the major risks which they have identified and to which the charity is exposed and are satisfied that systems are in place to mitigate the charity’s exposure. The major risks relate to:- financial viability which the trustees have adopted a reserves policy to address and event risk for which insurance cover is held A detailed risk assessment will be undertaken in advance of both a move to new premises and the Club’s annual exhibition in May 2022 with particular reference to any implications of the Covid-19 pandemic that may apply at that time. ## **Tax Status** The CIO being a registered charity is exempt from corporation tax on its investments and other non-trading income. 6 MARKET DEEPING MODEL RAILWAY CLUB CIO Charity registration number 1187779 Trustees’ report and financial statements for the year ended 31 May 2021 ## **Future Plans** Once in new premises, the priorities will be: the establishment of a new test track; the promotion and development of youth projects; the establishment of displays for the many donations received; workshops to further enhance the skills of club members and those new to the hobby; open events to enable new entrants to the hobby to see what is possible and to start learning the techniques to achieve excellent results; outreach and exhibition events both to attract members of the public to the hobby and to increase awareness and skill levels necessary. ## **Statement of Trustee Responsibilities** The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the CIO and of the incoming resources and application of resources, including the income and expenditure of the CIO for that period. In preparing those financial statements, the trustees are required to select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charity SORP; make judgements and estimates that are reasonable and prudent; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the CIO will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the CIO and to enable them to ensure that the financial statements comply with all relevant legislation. They are also responsible for safeguarding the assets of the CIO and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the trustees on 25 July 2021 and signed on its behalf by: Alan Hancock Secretary 7 MARKET DEEPING MODEL RAILWAY CLUB CIO Charity registration number 1187779 Trustees’ report and financial statements for the year ended 31 May 2021 ## **Independent Examiner's report to the trustees of Market Deeping Model Railway Club CIO** I report to the charity trustees on my examination of its accounts for the year ended 31 May 2021. ## **Responsibilities and basis of report** As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of all relevant legislation. I report in respect of my examination of the Trust’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 matters have come to my attention in connection with the examination giving me cause to believe that, in any material respect: accounting records were not kept in respect of the Charity as required by section 130 of the Charities Act; or the accounts did not accord with the accounting records; or the accounts did 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. Signed Steve Swift Date 29 November 2021 ACCA 130 Apollo Avenue, Stanground. Peterborough. PE2 8GB 8 MARKET DEEPING MODEL RAILWAY CLUB CIO Charity registration number 1187779 Trustees’ report and financial statements for the year ended 31 May 2021 **Statement of financial activities (including income and expenditure account) For the year ended 31 May 2021** **As provided by the Treasurer and as an addendum to this report.** **Notes** (forming part of the financial statement) ## **1. Constitution** The CIO was registered in England under the Charities Act 2011 as a Charitable Incorporated Organisation. ## **2. Accounting policies** ## **Basis of preparing the financial statements** The financial statements of the CIO were prepared on a receipts and payments basis as allowed in the Charities Act 2011, since gross income was less than £250000. ## **Financial reporting standard 102 – reduced disclosure exemptions** The CIO has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’: ## **Donations** Income from donations is credited to the statement of financial activities when it is receivable. ## **Grants** Grant income is recognised when the charity is entitled to the income and receipt has happened. ## **Resources expended** Resources expended are included in the statement of financial activities when it is expended. ## **Unrestricted funds** These are monies received by the charity which can be used by the trustees without restriction to meet the charity’s objects. ## **Restricted funds** These are monies received by the charity for a specific purpose imposed by the donor ## **Deferred income** 9 MARKET DEEPING MODEL RAILWAY CLUB CIO Charity registration number 1187779 Trustees’ report and financial statements for the year ended 31 May 2021 Deferred income is income received during the year which is carried forward as it relates to following years ## **Going Concern** There are no material uncertainties about the charity’s ability to continue. 10