2021-01-31-accounts - Nene Valley Railway

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Patron ofNene Valley Railway	Patron ofNene Valley Railway	Patron ofNene Valley Railway	HRH The Duke ofGloucester	HRH The Duke ofGloucester
Honorary	President		Lord BS Mawhinney	Kt. (deceased)
Honorary	Vice President		Cllr CSwift O.B.E
Trustees	- Elected		KJ Parkinson
			P Marshall
			SJ Bell
			M A Kerfoot (Chair)
			S L Derry
			TJJennings
Trustees	- Appointed		A LDates	(resigned 10December 2020)
			P Corrigan	(resigned 18October 2020)
			SA Costello
			RJ Dixon	(appointed 5 November 2020)
			E A Walters	(appointed 6May 2021)
Key management		personnel	SPiggott
			KShaw
Secretary			N McGregor
Charity number			263617
Company	number		1038056
Museum	number		1636
Principal	address		Wansford Station
			Old North Road
			Stibbington
			Peterborough
			PEB6LR
Registered office			Wansford Station
			Old North Road
			Stibbington
			Peterborough
			PEB 6LR

			Page
Chairman's	report
Trustees' report			2-7
Statement oftrustees'		responsibilities
Independent	auditor's	report	9-12
Consolidated	statement	offinancial activities	13
Consolidated	balance sheet		14-15
Charity balance sheet			16-17
Consolidated	statement	ofcash flows	18
Notes to the	financial statements		19-39

				Unrestricted	Designated		Restricted	Endowment	Endowment	Total	Total
				funds	funds		funds		funds
				2021	2021		2021		2021	2021	2020
			E Notes			f		f	f	f	f
Income from:
Donations and	other
fund raising income			4	69,029	37,782		67,660			174,471	164,645
Incoming resources
from charitable
activities			5	247,897						247,897	1,200,286
Commercial trading
operations and
investment in trading
subsidiary			3	51,154						51,154	286,055
Investments			6	187			8,808			8,995	11,902
Other income			7	251,600						251,600
Total income and
endowments				619,867	37,782		76,468			734,117	1,662,888
Expenditure on:
~dpi d d
Commercial trading
operations and
investment in trading
subsidiary			8	42,124						42,124	216,310
Charitable activities			10	740,344	43,506		50,060			833,910	1,506,215
Total resources	expended			782,468	43,506		50,060			876,034	1,722,525
Net gains/(losses)		on
investments			14				(23,049)			(23,049)	27,938
Net incoming/
(outgoing) resources
before transfers				(162,601)	(5,724)		3,359			(164,966)	(31,699)
Gross transfers
between funds				171,868	(92,853)		(79,015)
Net movement	in	funds		9,267	(98,577)		(75,656)			(164,966)	(31,699)
Fund balances at		1
February 2020				1,725,661	221,418		521,803		579	2,469,461	2,501,160
Fund balances	at	31
January 2021				1,734,928	122,841		446,147		579	2,304,495	2,469,461
The statement	of	financial	activities includes		all gains and	losses recognised			in the year.

			2021		2020
		Notes	E	E	6	6
Fixed assets
Tangible assets		15	1,967,816		1,946,512
Investments		17		285,084		373,679
			2,252,900		2,320,191
Current assets
Stocks		19	54,379		49,020
Debtors		20	16,481		81,290
Cash at bank and in	hand		278,476		307,078
			349,336		437,388
Creditors: amounts	falling due within	21	(175,308)		(178,920)
one year
Net current assets				174,028		258,468
Total assets less current liabilities			2,426,928		2,578,659
Creditors: amounts	falling due after	22	(122,433)		(109,198)
more than one year
Net assets			2,304,495		2,469,461
Capital funds
Endowment funds		26		579		579
income funds
Restricted funds		28	446,147			521,803
Unrestricted funds:
Designated funds		27		122,841		221,418
General unrestricted	funds		1,734,928		1,725,661
			2,304,495		2,469,461

			2021		2020
		Notes	f	f	f
Fixed assets
Tangible assets		15	1,967,816		1,946,512
Investments		17		285,184	373,779
			2,253,000		2,320,291
Current assets
Stocks		19	36,183		18,838
Debtors		20	69,728		96,268
Cash at bank and in	hand		273,877		298,616
			379,788		413,722
Creditors: amounts	falling due within	21	(167,774)		(155,354)
one year
Net current assets				212,014	258,368
Total assets less current liabilities			2,465,014		2,578,659
Creditors: amounts	falling due after	22	(122,433)		(109,198)
more than one year
Net assets			2,342,581		2,469,461
Capital funds
Endowment funds		26		579	579
Income funds
Restricted funds		28		446,147	521,803
Unrestricted funds:
Designated funds		27		122,841	221,418
General unrestricted	funds		1,773,014		1,725,661
			2,342,581		2,469,461

				2021	2021	2020	2020
			Notes	6	6	6	6
Cash flow from operating	activities		34		(54,500)		(3,035)
Cash flow from investing	activities
Purchase oftangible fixed	assets			(56,582)		(56,805)
Purchase of investments				(92,992)		(87,841)
Proceeds on disposal of investments				158,538		86,845
Interest received				8,995		11,902
Net cash flow from investing activities					17,959		(45,899)
Cash flow from financing	activities
Interest paid				(30,211)		(31,642)
New borrowings				50,000		112,000
Repayment ofborrowings				(11,813)		(43,061)
Net cash flow from financing activities					7,976		37,297
Net decrease in cash and	cash equivalents				(28,565)		(11,637)
Cash and cash equivalents	at beginning	ofthe year			307,041		318,678
Cash and cash equivalents	at end ofthe year				278,476		307,041
Relating to:
Bank balances and short term deposits					278,476		307,078
Bank overdrafts							(37)
					278,476		307,041

3	Commercial trading operations and	investment in	trading subsid	iary
					2021	2020
	Non-charitable trading activities				51,154	286,055
4	Donations and other fund raising income
		Unrestricted	Designated	Restricted	Total	Total
		funds	funds	funds	2021	2020
		f	g	6	6	6
	Donations and gifts	50,382	37,782	67,660	155,824	103,175
	Legacies receivable					18,221
	Grants receivable					25,747
	Membership fees	18,647			18,647	17,502
		69,029	37,782	67,660	174,471	164,645
	Forthe year ended	58,910		105,735		164,645
	31January 2020
5	Incoming resources from charitable	activities
					2021	2020
					g	6
	Traffic and admission charges				128,203	680,022
	Driving course income				4,737	38,677
	Santa specials				97,971	458,620
	Charitable rental income				13,534	12,051
	Photo course and trade stands				122	963
	Other income				3,330	9,953
					247,897	1,200,286

6	Investments
		Unrestricted				Designated		Restricted		Endowment	Total	Total
				funds		funds		funds		funds	2021	2020
					f		E		E	E	f	f
	Income from listed
	investments							8,808			8,808	11,105
	Interest receivable			187							187	797
				187				8,808			8,995	11,902
	Forthe year ended			794			1	11,105				11,902
	31January 2020
7	Other income
											2021	2020
											E
	Net gain on disposal oftangible			fixed assets							21,000
	Coronavirus job retention		scheme grant								136,886
	Other coronavirus	related	income								93,714
											251,600
8	Raising funds
											2021	2020
											E	E
	Commercial trading operations			and	investment		in trading subsidiary
	Operating trading company		undertaking			non-charitable		trading	activity		42,124	216,310
											42,124	216,310

Charitable activities
		2021	2020
		6	6
Maintenance staff including	Nl and pension	188,589	174,300
Depreciation and impairment		34,279	38,280
Fuel and lubricants		23,801	76,892
insurance		63,843	65,174
Hire and transport of rolling	stock	38,066	155,844
Maintenance		92,390	147,446
Santa special purchases		32,343	79,256
Stamp purchases for resale		778	6,456
Refuse and cleaning		19,709	27,090
Repairs and renewals			625
Subscriptions		1,814	3,604
Online booking system		7,893	9,771
Publicity and printing costs		7,743	51,676
Special event expenses		9,138	201,930
Bank, interest and credit charges		30,211	31,642
Bad debt provision			(1,808)
Expenditure from restricted	funds	45,542	125,924
		596,139	1,194,102
Support costs (see note 11)		218,304	291,375
Governance costs (see note	11)	19,467	20,738
		833,910	1,506,215
Analysis by fund
Unrestricted funds		740,344	1,345,948
Designated funds		43,506	29,032
Restricted funds		50,060	131,235
		833,910	1,506,215

Support		osts
			Support	Governance	2021	2020
			costs	costs
			6	6
Administration and cleaning wages			195,458		195,458	252,223
Premises		costs	14,581		14,581	19,625
Promotion		costs	8,265		8,265	19,527
Auditors	remuneration:
-for audit services				4,500	4,500	5,370
-for non		audit services		5,301	5,301	3,497
Legal and		professional		9,666	9,666	11,871
			218,304	19,467	237,771	312,113
Analysed		between:
Charitable		activities	218,304	19,467	237,771	312,113

The average	monthly number of employees during the year was:
		2021	2020
		Number	Number
Administration,	shop, catering and cleaning	11	15
Mechanical		6	6
		17	21
Employment	costs	2021	2020
			f.
Wages and salaries		346,032	384,961
Social security	costs	26,684	31,919
Other pension	costs	11,331	9,643
		384,047	426,523

			2021	2020
			f	f
Revaluation	of	investments	(12,528)	14,060
(Loss)/Gain	on	sale ofinvestments	(10,521)	13,878
			(23,049)	27,938

						Rolling
		Freehold land	Property	Plant and	Track and	stock and	Total
		and buildings	improvements	machinery	ballast	locomotives
			6	6
Cost
At 1February	2020	1,104,728	206,046	195,961	252,903	1,134,797	2,894,435
Additions				9,631		46,951	56,582
Disposals						(1,000)	(1,000)
At 31January	2021	1,104,728	206,046	205,592	252,903	1,180,748	2,950,017
Depreciation	and
impairment
At 1February	2020		42,719	157,153	19,481	728,570	947,923
Depreciation	charged	m
the year			5,709	12,373	2,334	13,862	34,278
At 31January	2021		48,428	169,526	21,815	742,432	982,201
Carrying amount
At 31January	2021	1,104,728	157,618	36,066	231,088	438,316	1,967,816
At 31January	2020	1,104,728	163,327	38,808	233,422	406,227	1,946,512

16	Financial instruments	Financial instruments				2021	2020
						6	f
	Carrying amount	ofgnancial		assets
	Debt instruments	measured		at amortised	cost	294,957	388,368
	Equity instruments	measured		at cost less	impairment	285,084	373,679
	Carrying amount	offinancial		liabilities
	Measured at amortised		cost			284,941	251,012
17	Fixed asset investments
	Group					2021	2020
						E
	Listed investments					285,084	373,679
	Charity					2021	2020
						E	E
	Investments in subsidiaries					100	100
	Listed investments					285,084	373,679
						285,184	373,779

Fixed asset investments (Continued)	Fixed asset investments (Continued)
Movements in fixed asset investments Group and Charity		Sharesf
Cost or valuation
At 31January 2020		373,679
Valuation changes		(23,049)
Investment management	fees	(2,794)
Dividends received		8,808
Withdrawals		(71,560)
At 31January 2021		285,084
Carrying amount
At 31January 2021		285,084
At 31January 2020		373,679

The sub January	sidiary's results as extracted 2021are outlined below:	from the statutory financial st	atements for the year	ended 31
			2021	2020
			6	f
Turnover			53,489	378,850
Expenditure			(91,575)	(331,182)
Net profit			(38,086)	47,668
The aggregate ofthe assets, liabilities		and reserves were:
			2021	2020
			6
Current	Assets		24,431	57,670
Current	liabilities		(62,417)	(57,570)
Total reserves			(37,986)	100

19	Stocks
	Group						2021	2020
							E	E
	Raw materials		and consumables				54,379	49,020
	Charity						2021	2019
							E	E
	Raw materials		and consumables				36,183	18,838
20	Debtors
	Group						2021	2020
	Amounts	falling due within			one year:		E	E
	Trade debtors							5,615
	Other debtors						16,481	75,675
							16,481	81,290
	Charity						2021	2020
	Amounts	falling due within			one year:		E	E
	Trade debtors							5,615
	Amounts	due from subsidiary			undertakings		54,883	26,222
	Other debtors						14,845	64,431
							69,728	96,268
21	Creditors:	amounts		falling due within one year
	Group						2021	2020
						Notes	E	E
	Loans and	overdrafts				24	27,753
	Other taxation		and social security				1,489
	Deferred	income				23	63,853	31,831
	Trade creditors						54,561	84,783
	Other creditors						14,852	15,754
	Accruals						12,800	37,106
							175,308	178,920

21	Creditors: amounts	Creditors: amounts	falling	falling	due within one year (continued)	due within one year (continued)
	Charity							2021	2020
							Notes	6	6
	Loans and overdrafts						24	27,753	9,446
	Other taxation and social security							1,489	7,782
	Deferred income						23	63,853	31,831
	Trade creditors							52,727	57,884
	Other creditors							9,152	15,754
	Accruals							12,800	32,657
								167,774	155,354
22	Creditors: amounts		falling		due after more than one year
	Group and Charity							2021	2020
							Notes	6	E
	Loans and overdrafts						24	72,433	102,590
	Other borrowings							50,000
	Other creditors								6,608
								122,433	109,198
23	Deferred income
	Group and Charity							2021	2020
									6
	Arising from wayleave			income				3,675	3,675
	income received	in advance						60,178	28,156
								63,853	31,831
	Deferred income	is included			in the financial statements	as follows:
								2021	2020
								g	f
	Current liabilities							63,853	31,831
								63,853	31,831

Loans and overdrafts
Group and charity	2021	2020
	6	6
Bank overdrafts		37
Bankloans	100,186	111,999
Other borrowings	50,000
	150,186	112,036
Payable within one year	27,753	9,446
Payable after one year	122,433	102,590

Endowment	funds
		Balance at	Balance at
		1February	31January
		2020	2021
		6	E
Expendable	endowments
Movements	in the year	579	579
		579	579

	Balance at	Incoming	Resources	Transfers	Balance at
	1February	resources	expended		31January
	2020				2021
	E	E	E	E	E
Friends ofthe Nene Valley Railway	5,035			(2,525)	2,510
Thomas fund	41,568			(41,568)
Legacy fund	44,220				44,220
Track appeal	2331	1,500	(2,023)	(1,808)
Loco656	43,748	29,242		(46,952)	26,038
Wagon Group	1,000				1,000
Carriage and Wagon	32,547	7,040	(8,545)		31,042
Restaurant car	50,969		(32,938)		18,031
	221,418	37,782	(43,506)	(92,853)	122,841

			Balance at	Incoming	Resources	Transfers	Investments	Balance at
			1February	resources	expended		gains/	31January
			2020				losses	2021
								E
TPO Fund -	Cash		32,359	768	(3,933)			29,194
TPO Fund -	Assets		2,462		(1,724)			738
Thomas			3,274	4,189		(7,463)
Small Engine Fund			1,932	361	(317)			1,976
Wansford Old		Station	62,611	431	(505)			62,537
Nene Corridor		(Yarwell)	4,431					4,431
Museum Fund			4,360	14	(622)	(1,235)		2,517
Loco73050			5,957	146	(8,670)	10,000		7,433
Loco73050	- investment		373,679	8,808	(2,794)	(71,560)	(23,049)	285,084
Wagon Group			3,810		(2,493)			1,317
Signal box			15,276	49				15,325
N McGregor's		rolling
stock			925		(228)			697
Education Fund			1,778	120		(1,235)		663
Loco crew			733		(574)			159
Pit fund			495					495
Barnwell Building				1,472	(2,656)	1,184
Yarwell			927	2,000				2,927
Yarwell 6rantscape			650	11,296	(11,296)			650
HLF			3,032	20,000	(6,518)	(2,402)		14,112
Operations	Department		1,584		(794)			790
LNER				5,340	(4,459)	(881)
D Crouch			1,528	1,360	(1,991)			897
Pacer Appeal				8,822				8,822
Toilet Block	Appeal			6,145		(6,145)
Other small	funds			5,147	(486)	722		5,383
			521,803	76,468	(50,060)	(79,015)	(23,049)	446,147

2021	2020
6	6
44,794	38,330

	2021	2020
	6	6
Within one year	7,446	7,446
Between two and five years	6,519	13,039
	13,965	20,485

Cash flow from operating activities	Cash flow from operating activities	Cash flow from operating activities	2021	2020
			6	6
(Deficit)/Surplus for	the year		(164,966)	(31,699)
Adjustments for:
Interest and dividend	income		(8,995)	(11,902)
Interest paid			30,211	31,642
Loss/(Gain) on disposal of investments			10,521	(13,878)
Fair value gains and	losses on investments		12,528	(14,060)
Depreciation and loss on disposal		oftangible fixed assets	35,278	38,280
Movements in working capital:
Decrease/(increase)	in stocks		(5,359)	(7,683)
Decrease/(increase)	in debtors		64,809	(55,302)
(Decrease)/increase	in creditors		(28,527)	61,567
Net cash outflow from operating		activities	(54,500)	(3,035)

Analysis ofchanges in net debt
	As at 1		Other non-cash	As at 31
	February 2020	Cash flows	movements	January 2021
	6	6	6	6
Cash	307,078	(28,602)		278,476
Overdraft	(37)	37
Loans due within one year	(9,446)	(18,307)		(27,753)
Loans due after one year	(102,590)	(19,843)		(122,433)
	195,005	(66,715)		128,290