Hayling Light Railway Ltd (A Company limited by Guarantee) Trustees Report and Financial Statements for the year ending 30 June 2025 Company number: 13452960 Charity number.. 1197020 Hayling Island Light Railway Ltd 30 June 2025 Contents Page Legal and Administrative Inforynation Trustees, Report Independent Examinerfs Report Statement of Financial Activity Balan￿ Sheet Notes to the Financial Statements 7-11 Hayling Island Light Railway Ltd 30 June 2025 Company Infomiation Charty Number.. 1197020 Company Registralion number.. 13452960 Registered Office.. Eastoke Corner depot Sea Front Hayling Island Hampshire P0119HL Truslees.. C Robinson P Barker C Martin M Harris N Read Secretary.. Accountants.. Bankers: Natwest Haylin8 Island Light Railway Ltd 30 June 2025 Report of the trustses ststement of trustees, rèsponsibilities The trustees (who afe also directors of Hayling Light Railway Ltd for the purpose of company lawl are responsible for preparing the Trustees, Annual Report and Ihe financial statements in accordan￿ with applicable law and United Kingdom Generally Accepted Accounting Practice. Company law requires the trustees to prepare financial statements for each financial year which give a Irue 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 Ihe Charities SORP., make judgements and estimates that are reasonabl8 and prudent, state whether applicable UK Accounting Standards have been follow8d, subject to any material departures disclosed and 8xplained in the financial statements.. and prepare the financial statements on the going conc8m basis unless il is inappropriate to presume that the charitabl8 company will continue in operation. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and which enable them to ensure that the financial statements comply with the Companies Act 2006. They a￿ also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and delection 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 of the Companies Act 2006. On behalf oflhe board C Robinson Director Hayling Island Light Railway Ltd 30 June 2025 Independent examinerfs report to the trustees on the unaudited financlal statements of Hayling Light Railway Ltd I report on the accounts of Hayling Light Railway Ltd for the year ended 30 June 2025 s8t out on pages 5 to 12. Respectlvo R8sponslbllltlos of tru8te08 and independent examiner The trustees (who are also the directors of the company for the purposes of company law) are responsibl8 for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 {the Charrties Act) and that an independent examination is needed. It is my responsibility to.. examine the accounts under section 145 of the Charities Ad. to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145{5)Ibl of the Charities Act, and to state whether particular matters hav8 come to my attention. Basls of Independent examlner's statement My examination was carned out in accordance with general Directions given by the Charity Commission. An examination includes a review of Ihe accounting records kept by the charity and a comparison of the aceounls presented with Ihose records. 11 also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidenGe that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair, view and the report is limited to thos8 matters set out in the statement below. Indepondent examlner'8 8tatement In connection with my examination, no matter has come to my attention to indicate that.. accounting records have not been kept in accordance with section 386 of the Companies Act 2006; the accounts do not accord with such records.. 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 not consistent with the Charities SORP {FRS102} any malter which the examiner believes should be drawn to the attention of the reader to gain proper understanding of the accounts R Weekes Independent Examlner Hayling Island Light Railway Ltd 30 June 2025 Statement of Financial Activity {including summary income and expenditure account} For the year ended 30 June 2025 UArutrlct•d R88trlctod Fund* Fund¥ 2026 Tol•l• 2024 Tot•l• Incomo (Note 31 Donations and lega¢igS Charitable activities Other trading activity Investment income Total In¢om• 93.230 151,594 93,230 151,594 79,211 136,305 577 246 401 577 245 401 388 Exp•ndlturè (Notè 81 Raising funds Ch8rit8ble actlvlli08 Other Total Expondltur• 235,944 9231 235,944 9.231 245 175 158,717 7,570 166 287 Net Incomellexp•ndlturnl b•for• tax Taxation 226 226 49,617 N•t Incomelloxpendlturol after tax bfrforg Investment galn8111088e¥l Nel gainslllossesl on investments 228 228 49,617 N•t Incomèllèxpendltur•l 226 226 49,617 Transfern betwo•n fund• N•t Mov•ment In funds 226 226 49,817 Reconclliatlon of fundts.. Total funds brought Forward Total funds carrled forward 149,139 149 366 149.139 149 365 99,522 149 139 Hayling Island Light Railway Ltd 30 June 2025 Balance Sheet As at 30 June 2025 Unro•trlct•d Ré&trl¢t¢d Fynd• Funds 2025 Tot•ls 2024 Flx•d A8Bet• Tangible assets Total fixad a880ts 87,539 87,539 86,700 86,700 Currgnt A$••t8 Debtors 4,447 4,447 12,309 Cash al bank and in hand Total currènt 4$sets 70,018 74,465 79,091 91,400 74.465 Cr•dltor8 amount falllng du• withln one year 800 800 800 Ngt Curront A•8•t8 73,665 73.665 90,600 Total a888to l•s8 current Ilabllltl•s 180,385 160.366 178,139 Cr8dltor8 amounts falllng duo aft•r more than one yg•r 111,0001 111.0001 129.0001 Totsl n•t a8•Ot8 or Il•bllltl•• 149 365 149 365 149 139 Funds: Ra8lri¢ted income funds Unrestricted funds Total fundi 149 361 149 385 149 139 149 139 149365 The company wa8 entitled lo exemption from audit under S477 of the Companies Act 2006 relating lo small companies. The members have not required th¢ company lo obtain an audit in accordance with section 476 of tha Companie8 Act 2006. The directors acknowledge their responsibility for complying with the requirements of the Companies Act with respect lo accounting records and the preparation of accounts. These aecounls have been prepared in accordance with the provisions appli¢able lo small Companies subjgct lo the small companies regime and in accordance with FRS102 SORP. Paul Bark•r Director 25 September 2025 Hayling Island Light Railway Ltd 30 June 2025 Notes to the Accounts Basis of Preparation Basls of Accounting These accounts have been prepared under the historical cost convention with terms recognis@d at cost or transaction value unless otherwise stated in the relevant nolelsl lo these accounts. The accounts have been prepared in accordan¢e with.. the Statement of Recommended Practice". Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republ￿ of Ireland IFRS1021 issued on 16 July 2014. the CharilEs Act 2011. Golng Concern These a￿o￿ntS are prepared on a going concern basis. Chango of Accounting Pollcy The accounts present a true and fair view and no changes have been made in the accounting policies adopted in these notes. Changes to A¢¢ounting Estimat•8 No changes to accounting estimates have occurred in the reporting period. Materlal Prior Year Error8 No material prior year errors have been idenlifigd in the repoty'ng period. Accounting Poll¢les Income These are included in the Ststemenl of Financial Activity ISOFAI when.. the charity becomes enlilled to the resources.. il is MO￿ likely than not that the trLJslees will receive the resources.. the monetsry value can be measured with sufficient reliability. There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by FRS 102 SORP or FRS 102. Grants and donations are only included in the SOFA when they have met the income recognition criteria above. In the case of performance related grants. income is only recognised to the extent that the charity has provided the goods or services that meet the condition of the grant. Donated goods are recognised al a fair value and are recognised in one of the following ways.. if used by charty, the goods are recognised in the SOFA as incoming resources and held as a fixed asset in the accounts rf sold by the charty, the go¢yls are recognised in the SOFA as income from other trading aelivilies and held in stock in the accounts. If distributed to béneficiaries, the goods are recognis8d on receipt. held in stock and re¢ognised as an expens& 81 its carrying amount at the point of dislribulion. Haylinglsland Light Railway Ltd 30 June 2025 Notes to the Accounts (continued) Donated services and facilities are recognlled in the SOFA when received at the value of the gft. provided it 18 quantifiable, and recognised as an expense when consumed under the appropriate heading. The value of any volunteer help is not included in the accounts bul 18 disclosed in the trustees, annual report. Income from inv¢slmenls is included when receipts is probable and the amount can be measured reliably. Expondlturn and Ll4bilitl88 Liabilities are recognised when il 18 more likely than rsot that there is 8 legal or conslruclive obligation committing the charity lo pay out resources and the amount of the obligation can be measurod with reasonable certainty. A liability is measured on recognition al its hi8toric81 Cost and then subsequèntly measured al the best 881imale of Ihe amount required lo $ettlor the obligation at the reporting dale. The charity has creditors whi¢h are measufed al settlem&nt amounls1888 any trade discounts. Support costs have been allocated b¢￿e0n governance costs and other 8UPPOrt co$ls. Governance costs ¢omprise all c08ts involving public account8bility of the charity and il'8 complian¢e with regulation and good practice. Support Costs include central functions and have been 8llocaled lo activity co$1 ¢olegorie8 on a ba818 eon$i$lont with the use of resourca8. As8Ot8 Tangible fix¢d assgls are capitali8ed rf they can be used for more than one year and are valued 81 cost. Depreciation is provided at rates calculated lo write off the cost less residual valuè of each asset over it8 expected useful lile as follows.. Plant & Machinery Furniture & Fixings 25% reducing balance 250A rgducing b8lan¢6 Debtors lineluding trade debtor51 are measured on initial recognition al gettlèmgnl amount after any trade discounts or amount advanced by the charity. Subsequently they are measured al the cash or other consideration expected lo be r•ceived. H3yling Island Light Railway Ltd 30 June 2025 Notes to the Accounts (continued) Incomlng Funds UnM•trl¢t¢d R•¥trlct•d Fund• FundB 2025 T4X• 2025 Totsls Incomlng fund*: Donations and Loga¢ies Private Donations 93 230 93,230 93,230 93,230 79,211 79,211 Chantabl8 Aclivili8S General Sales Specials Fundraising Secondments Workshops, conference8, seminars 134,360 17,234 T34,￿0 17,234 106.452 29,853 1 $1,594 151,594 136,305 Oth8r Trading Activity Miscellaneous Income Inveslmenl Incom8 Interest Received Tot¥1 Incomlng Re8our¢g• 577 577 388 216 904 Incomé Analysls 202S 2024 In klnd Donatlon• lincluded in Private donalionsl Book-keeping & Accounting DrIver￿1cket OfficerlEngineers 1,600 1.600 79,200 73,600 Total Hayling Island Light Railway Ltd 30 June 2025 Notes to the Accounts {continu8dl Expenditure Unrostrlctgd Funds R¢$tri¢tod Fund• 202S Tot•l• 2024 Tolal• Expondlturo Charitable 8cts.vi1￿S Rent Staff Costs Staff training Consumables Running Costs Repairs and Maintenance Train works Track Woiks Staff Welfaro Advortising Travellin9 expènses Car & Van Hire Premise8 expen$$$ Insuranc& Printing 4,464 88,986 4,464 88,986 5.488 82,702 7.9S2 1.690 17.330 88,594 3,839 3,982 1,243 2,514 728 3,760 5,098 5.764 235,944 7,952 1.690 17,330 88,594 3.839 3,982 1,243 2,514 728 3,760 5,098 5.764 236,944 8,6S3 157 45,111 2,211 204 2,997 295 2,302 5,366 168.717 Other Audit and Accountancy Fees Legal Fees & Professional Bank Charges Sundry Expenses Depreciation Donations 2,000 927 1.883 437 2,263 60 7,570 3,886 1,810 3,886 1,810 1,984 1,984 1,551 9,231 9,231 Total Exp•ndltur• 245 175 166,287 Expenditure Details 2025 2024 Independent examinèrs fee8 Assurance sérvices other than independ8nt examination Tax Advisory Fees Other Fee3 400 400 io Haylinglsland Light Railway Ltd 30 June 2025 Notes to the Accounts Icontinuedl Staff Costs No employees received employee benefits (excluding employer pension costs) of more than £60,000 for the peri¢)d. The average monthly numbers of staff (including the trustees) during the year was as follows.. Area in which they work Charitable activities Charitable activities Charitable activilies Governance 2025 2024 Train operating staff Engineering Staff Duty Manager Advisors Tangible Fixed Assets Plant, machinery & Vehlcles Land & Bulldings Fixture & Fittings ToLIl Cost or Valuation at the beginning of the year Additions 80,750 9,080 1,145 10,225 2,183 92,013 1,145 93,158 At the end of the year 80,750 2,183 Depreciation and Impairments at the beginning of the year Depreciation At the end of the year 3,808 1,604 5,412 666 4,474 1,984 6,458 379 1,045 Net Book Value At the end of the year 80,750 4.813 1.138 86.701 li Haylinglsland Light Railway Ltd 30 June 2025 Notes to the Accounts (conlinued) Credltors Amounts falling due within l year 2025 Amounts falling due after more than l year 2025 2024 2024 Trade creditors Accruals and deferred income Loons 800 800 11,000 29,000 Totsl 800 800 11000 29000 Fund8 Analysls as at 30 June 2025 B•lance brou8ht forward Balance carrled foThvard Galns •nd losses Incom• Expendlture Transfers Fund Name Type General unres 149,139 245,401 1245,1751 149,365 Total Fund5 a5 per Balance Sheet 99,522 245,401 1245,175 149,365 12