Hayling Light Railway Ltd (A Company limited by Guarantee) Trustees Report and Financial Statements for the year ending 30 June 2024 Company number: 13452960 Charity number: 1197020 Hayling 151and Light Rallway Ltd 30 June 2024 Contents Page Legal and Administrative Information Trustees, Report Independent Examinerfs Report Statement of Financial Activity Balance Sheet Notes to the Financial Statements 7-11 Hayling 151and Light Railway Ltd 30 June 2024 Company Infomiation Charity Number.. 1197020 Company Registration number.. 13452960 Registered Office= The Old Surgery 19 Mengham Lane Hayling Island Hampshire P011 9JT Trustees.. C Robinson P Barker C Martin M Harris Secretary.. Accountants.. Bankers.. Nthest Hayling Island Light Railway Ltd 30 June 2024 Report of the trustees Statement of trustees. responslbllltles The trustees (who are also directors of Hayling Light Railway Ltd for the purpose of company law) are responsible for preparing the Trustees, Annual Report and the financial statemenls in accordance with applicable law and United Kingdom Generally Accepted Accounting Practi￿. Company 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charits'es SORP., make judgements and estimates that are reasonable and prudent; state whether applicable UK Accounting Standards have been followed, subject lo any material departures disclosed and explained in the financial statements., and prepare the financial statements on the going concern basis unless rt is inappropriate to presume that the charitable company will continue in operation. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial posilion of the charitable company and which enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detedion of fraud and other irregularities. Small company provisions This report has been prepared in accordance with the special provisions for small companies under Part 15 ofth8 Companies Act 2006. On behalf of the board C Martin Director Hayling Island Light Railway Ltd 30 June 2024 Independent examiner's report to the trustees on the unaudited financial statements of Hayling Light Railway Ltd I report on the accounts of Hayling Light Railway Ltd for the year ended 30 June 2024 set out on pages 5 to 12. Respective Responslbllltles of trustees and Independent exarnlner The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The charity's trustees consider that an audrt is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibilty to". examine the accounts under section 145 of the Charities Act, to follow the procedures laid down in the general Directions given by the Charity Commission {und8r section 145{5)Ib) of the Charities Act, and to state whether particular matters have come to my attention. Basis of Independent examinevs statement My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. 11 also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees con¢eming any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fairf view and the report is limited to those matters set OLrt in the statement below. Independent examlner's statement In connection with my examination, no matter has come to my attention to indicate that.. accounting records have not been kept in accordan￿ with section 386 of the Companies Act 2006,. the accounls do not accord with such ￿COrds.. where accounts are prepared on an accruals basis, whether they fail to comply with relevant accounting requirements under section 396 of the Companies Act 2006, or are nol consistent with the Charities SORP IFRS102) any matter which the examiner believes should be drawn to the attention of the r8ader to gain a proper understanding of the accounts R Weekes Independent Examlner Hayling Island Light Railway Ltd 30 June 2024 statement of Financial Activity {including summary income and expenditure account) For the yoar onded 30 June 2024 Un¥o8ttlctsd R•tstricted Fund8 Fund8 2024 Totsl8 2023 Totals In¢om¢ (Note 31 Donations and legacies Charitable activities Other trading ath'vity Investmènt in¢ome Total Income 79,211 136.305 79.211 136.305 84,21 S 127.650 388 215.904 388 264 212 129 Expenditure (Not8 61 Raising lunds Charitable 8Ctiviti8s other Totsl Exp•ndTrture 158.717 7.570 166 287 158,717 7.570 166 287 146,574 7,978 154,552 Net Incomall•x￿ndItur8l bofora tax Taxab'on 49.617 49,617 57.577 Nat Incom•ll•xponditurg1 aftor tax before investmènt gainslllossesl Net gainslllossesl on investments 49,617 49,617 57,577 Net Incamellexpenditurg) 49,617 49,617 57,577 Transfèrs betwaon funds Nèt Movement In fund$ Reconciliation of funds: Total funds brought Forward Total funds carrlgd fonvard 99.522 149 139 99.522 149 139 41,945 99,522 Hayling Island Light Railway Ltd 30 June 2024 Balance Sh¢et As at 30 Juno 2024 Unre5tr1ctsd Restrfetod Funds Fund8 2024 2023 Tolals Totals Fixgd A?$ets Tangible ass8t$ Total flxad assets 87.539 87.539 87,383 Current Assets Debtors 12,309 12,309 3,325 Cash at bank and in hand Total currènt assèts 79,091 91.400 56.614 59,939 91.400 Creditors amount falling du• within one year 800 800 800 Net Current Assots 90,600 90.600 59,139 Total as8ets less currsnt 178,139 178,139 146,522 Credttors amounts falllng due after morè than one year 129.0001 129.0001 147,0001 Totsl net assets or liabilitl•s 149 139 149.139 Fund$- Restricted income funds Unrestricted funds Total funds 149,139 149 139 149 139 149 139 99,522 The company wa$ enliued to exemption from audit under S477 of the Companies Act 2006 relating to small companies. The mèmbers have not required the company to obtain an audit in accordance with seeti¢n 476 of the Companies Act 2006. The directors acknowledge their responsibility for complying wrth the requirements of the Comp8nies Act wth respect lo accounting records and the preparation of accounts. Th8s8 accounts have been prepared in accordance with the provision$ applicable to small companies subject lo the small companies regime and in accordan¢e with FRS102 SORP. Paul Barker Oirector 20 September 2024 Hayling Island Light Railway Ltd 30 lune 2024 Notes to the Accounts Basis of Preparation Basis of Accounting These accounts have been prepared under the histori¢al cost convention with terms recognised at Cost or transaction value unles5 otherwise stated in the relevant notelsl to these a￿aUntS. The acwunts have been prepared in accordance wrf(h.' the Statement of Reeommended Practice.. Accounting and Reporting by Charities preparing their acxounts in accordance with the FinanrAal Reporty'ng Stsndard applicable in the UK and Republic of Ireland IFRS1021 issued tsn 16 July 2014. the Chari(i$$ Act 2011. Golng Con¢¢rn These accounts ar8 préparod on a going ¢oncem basis. Change of Aecounting Policy The accounts present a true and fair view and changes have been made in the accounting policies adopted in these notes. Change¥ to Accounting Estimates No changes to accounting è$tim8le$ have occurred in the reporting period. Material Prlor Year Errors No material prior year errors have been identified in the reporting period. Accounting Policies Income These are included in the Statement of Financial Actwity ISOFAI when.. the ¢harty becomes entitled to the resDurces', l is more likely than not that the trustees will receive the resourc8s'. the monetary value can be measured with sufficient reliabilty. Thère has been no offsetting of assets and liabilities. or income and èxpenses, unless required or pemiitt&d by FRS 102 SORP or FRS 102. Grants and donations are onty included in the SOFA when they have mel thè income ￿cognitIOn criteria abovo. In the case of performance related grants, income is only rec4Jgnised lo the exlenl that the charity has provided the goods or services that meet the ¢ondits"on of the grant. Donated goods ar¢ rocognised at a fair value and are recognised in one of the following ways.. if used by charity. the goods are reeognised in the SOFA as incoming resources and held as 8 fixed asset in the accounts if sold by the Charty, the goods ara recognised in the SOFA as income from other trading a¢twities and held in stock in the accounts. If distributed to beneficiaries, the goods are recognised on r￿elP1, held in stock and recognised as an expènse al ils carying amount al the point of distribution. Hayllng Island Light Railway Ltd 30 lune 2024 Notes to the Accounts (continued) Donated serv￿e$ and facilities are recognized in the SOFA when received al the value of the gift, provided il is quantffiable, and recognised as an eypense when consumed under the appropriate heading. The value of any volunteer help is not included in the accounts but is disclosed in the trustees, annual rewrt. Income from investrnents is included when receipts is probable and the amount can be measured reliably. Expenditure and Liabilitles Liabil(iies a￿ ￿cOgnised when il is more likely than not that there is a legal or construcb've obligation committtng the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty. A liability is measuied on ￿e0gnItiOn at its hi$lorical cost and then subsequently measured at the bgst estimate of the amount requir¢d to gettler the obligation at the reporting date. The charity has creditors which are measured at settlement amounts less any trade discounts. Support costs have been allocated befv￿en govemance costs and other support Msts. Gov8rllance w51s comprise all costs involving public accountability of the charity and il's compliance with regulation and good practice. Support costs include central functions and hava b￿n allocated to activity ￿81 categories on a basi8 eonsi8lent wfih the use of resources. A¥¥ets Tangible fixed a￿1$ a￿ capitalised if they can be used for morè than one year and are valued al cost. Depreciation is provided at rates calculated to wrrte off the cost less residual value of each assèt over ils expected useful life as follows.. Plant & Machinèry Furniture & Fixings 250A reducing balance 259A reducing balance Debtors (including trade debtors) are measured on ini(181 recognition at setuement amount after any trade discounts or amount advanced by the charity. Subsequently they are measured at thè cash or other considerabon expected lo be r•¢eived, Hayling Island Light Railway Ltd 30 June 2024 Notes to the Accounts {continued) Inwmlng Funds Unrtstrktsd R￿cted Funds 2024 2023 Fund8 Totsil Totsl8 Incoming funds: Donations and Legacies Private Donations 79,211 79,211 79,211 79,211 84,215 84,215 Charitable A¢liviti8$ General Sales Santa Special Fundraising SeoJndments Wtsrkshops, conferences, seminars 106,452 29,853 106.452 29,853 107,849 19.801 136.305 136,305 127,650 Oth&r Trading Activity Miscellaneous Income Investment In￿me Interest Re￿iVed Total Incoming Resources 388 388 215904 264 212 129 In¢ome Analysis 2024 2023 In kind Donations linduded in Prwale donation$l Book-keeping & Accountin9 Driver￿l¢ke1 OfficerlEngineers 1,800 1,600 73,600 75.200 82,400 84,000 Totsl Hayling Island Light Railway Ltd 30 June 2024 Notes to the Accounts (continued) Expenditure Unr•6trlctod Fund¥ R88lrfctad 2024 Totsib 2023 TotaLg Fund8 Expèndituro Charitable activities Rent Staff Costs Staff training Consumables Running Costs Rèpairs and Maintenance Staff Welfarg Advertising Travelling $xpense8 Car & Van Hire Premises expense5 Insurance Printing 5,488 82,702 5,488 82,702 5,324 91,755 254 6,913 8,653 157 45.111 2.211 204 2.997 295 2,302 5.366 3,231 158.717 8,653 157 45,111 2.211 204 2,997 295 2,302 5,366 3,231 158,717 26,541 2,378 2,276 1.642 2.000 3.897 2,590 1,004 146.574 Olhgr Audit and Accounlat)¢y Fees Legal Fees & Professonal Bank Charges Sundry Expenses Depreciation Donations 2,000 927 1.883 437 2,263 60 7.570 2,000 927 1.883 437 2,263 60 7.570 2.000 2,476 1.165 126 2,211 7.978 Total Expèndituro 166,287 166 287 Expenditure Details 2024 2023 Independent ¢xaminers fees Assurance services other than independent examination Tax Advisory Fees Other Fees 400 400 io Hayling Island knght Railway Ltd 30 lune 2024 Notes to the Accounts {conlinued) Staff Costs No employees received employee benefits {excluding employer pension costs) of more than £60,000 for the period. The averag6 monthly numbers of staff (including the Iwsteesl during the year was as follows: Area in which they work Charitable activities Charrtable aclivtties Charitable activities Governance 2024 2023 Train operating staff Engineering Staff Duty Manager Advisors Tanglble Fixed Assets Plant, machinery & Vehicles Land & Buildings FIMture & Flttings Total Cost or Valuatlon at the beginning of the year Additions At the end of the year 80,750 8,200 880 9,080 644 1.539 2,183 89,594 2,419 92,013 80,750 Depreciation and impalrments at the beginning of the year Depreciation At the end of the year 2,050 1,758 3,808 161 505 666 2,211 2,263 4,474 Net Book Value At the end of the year 80,750 5.273 1.516 87,539 li Hayling Island Light Rallway Ltd 30 June 2024 Notes to the Accounts Iconlinuedl Creditors Amounts falling due within l year 2024 2023 Amounts falling due after more than l year 2024 2023 Trade ￿editorS Accruals and defe￿ed income 800 800 Loans 29.000 47,000 Total 800 800 Funds Analysis as at 30 June 2024 Balance brought lotward Balance carrièd fonvard Gains and losses Income ExpendltuTr Transfers Fund Name Type General unres 99,522 215.904 1166,2871 149,139 Total Funds as per Balance Sheet 99,522 215.904 1166,2871 149.139 12