2021-02-28-accounts - Bressingham Steam Preservation Company Limited

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REFERENCE AND ADMINISTRATIVE	REFERENCE AND ADMINISTRATIVE	REFERENCE AND ADMINISTRATIVE	REFERENCE AND ADMINISTRATIVE		DETAILS OF THE COMPANY, ITSTRUSTEES AND ADVISERS
		FOR	THE		YEAR ENDED 28 FEBRUARY 2021
Trustees		C R Leah,	Chairman
		C Bustard
		R Ellis
		A Gardner-Collis
		P A Meade
		J Phillips
		JFWilson
Company	registered
number		01130628
Charity registered
number		266374
Registered	office	Bressingham		Steam Museum
		Low Road
		Diss
		Norfolk
		IP22 2AA
Company	secretary	J FWilson
Chief executive officer		A Baker
Accountants		Peters Elworthy			8Moore
		Chartered	Accountants
		Salisbury House
		Station Road
		Cambridge
		CB1 2LA
Bankers		Lloyds Bank Pic
		3Market Hill
		Diss
		Norfolk
		IP22 4JZ
Solicitors		Gudgeons	Prentice
		Buttermarket
		Stowmarket
		Suffolk
		IP14 1ED
Insurers		Insurance	Risk		Solutions
		Dettingden	House
		Dettingden	Way
		Bury St. Edmunds
		Suffolk
		IP33 3TU

			Restricted	Unrestricted	Total	Total
			funds	funds	funds	funds
		Note	2021 6	2021 f	2021	2020 5
INCOME FROM:
Donations			156,936	82,616	239„552	81,697
Charitable activities				302,740	302,?40	605,444
Other trading activities - commercial
trading				43,823	43,823	90,782
Investments				16	16	28
Other income			193,409	95,0T1	288,480
TOTAL INCOME			350,345	524,266	874,611	777,951
EXPENDITURE ON:
Raising funds				38,218	38,218	64,656
Charitable activities			219,532	337,126	556,658	703,058
TOTAL EXPENDITURE			219,532	375,344	594,876	767,714
NET INCOME			130,813	148,922	279,735	10,237
Transfers between	funds	20	(12,028)	12,028
NET MOVEMENT	IN FUNDS		118,785	160,950	2T9,735	10,237
RECONCILIATION	OF FUNDS:
Total funds brought	forward		22,522	2,514,873	2,53T,395	2,527,158
Net movement in funds			118,785	160,950	279,735	10,237
TOTAL FUNDS CARRIED FORWARD			141,307	2,675,823	2,817,130	2,537,395

				28 February		29 February
				2021		2020
		Note		6		6
FIXEDASSETS
Tangible assets		12		419,955		443,453
Heritage assets		13		2,061,220		2,061,220
Investments		15		100		100
				2,481,275		2,504,773
CURRENT ASSETS
Stocks		16	42,246		41,791
Debtors		17	66,406		38,327
Cash at bank and	in hand		363,455		58,162
			472,107		138,280
Creditors: amounts	falling due within one
year		18	(96,149)		(105,106)
NET CURRENT ASSETS				375,958		33,174
TOTAL ASSETS LESSCURRENT
LIABILITIES				2,857,233		2,537,947
Creditors: amounts	falling due after more
than one year		19		(50,246)		(22,791)
TOTAL NET ASSETS				2,806,987		2,515,156
CHARITY FUNDS
Restricted funds		20		136,127		22,522
Unrestricted funds		20		2,670,860		2,492,634
TOTAL FUNDS				2,806,987		2,515,156

			2021	2020
		Note	5	6
CASH FLOWS FROM OPERATING ACTIVITIES
Net cash provided by operating activities		22	323,808	52,700
CASH FLOWS FROM INVESTING ACTIVITIES
Dividends, interests and rents from investments			16	28
Purchase oftangible fixed assets			(2?,103)	(63,728)
NET CASH USED IN INVESTING ACTIVITIES			(27,087}	(63,700)
CASH FLOWS FROM FINANCING ACTIVIT1ES
Cash inflows from new borrowing			50,000	23,361
Repayments of borrowing			(37,835)	(13,910)
Interest paid			(3,593)	(2,991)
NET CASH PROVIDED BYFINANCING ACTIVITIES			8,572	6,460
CHANGE IN CASH AND CASH EQUIVALENTS	IN THE YEAR		305,293	(4,540)
Cash and cash equivalents at the beginning ofthe year			58,813	63,353
CASH AND CASH EQUIVALENTS AT THE END	OF THE YEAR	23	364,106	58,813

		Restricted	Unrestricted	Total	Total
		funds	funds	funds	funds
		2021	2021	2021	2020
			8	6	6
Donations	and gifts	1,936	34,124	36,060	21,713
Donations	under Gift Aid		48,492	48,492	59,984
Grants		155,000		155,000
		156,936	82,616	239,552	81,697
TOTAL 2020		14,885	66,812	81,697

		Restricted	Unrestricted	Total	Total
		funds	funds	funds	funds
		2021 F	2021	2021f	2020 5
Government	grants		95,071	95,071
Arts Council	England	193,409		193,409
		193,409	95,071	288,480

		Unrestricted	Total	Total
		funds	funds	funds
		2021f	2021 F	2020 5
Sundry	income	4,326	4,326	2,469
TOTAL	2020	2,469	2,469

	Unrestricted	Total	Total
	funds	funds	funds
	2021	2021	2020
	6	6
Gift shop and cafe income	39,497	39,497	88,313
TOTAL 2020	88,313	88,313

		Unrestricted	Total	Total
		funds	funds	funds
		2021	2021	2020
		6
Admissions		302,740	302,740	596,077
Hire ofengines	and steam courses			9,367
		302,740	302,740	605,444
TOTAL 2020		605,444	605,444

	Unrestricted	Total	Total
	funds	funds	funds
	2021 8	2021f	2020
Gift shop and cafe expenses	24,295	24,295	49,818
Giff shop and cafe staff costs	13,923	13,923	14,838
	38,218	38,218	64,656
TOTAL 2020	64,656	64,656

		Activities	Support &
		undertaken	governance	Total	Total
		directly	costs	funds	funds
		2021	2021	2021	2020
		8	8	6
Preservation	ofsteam engines	442,591	114,067	556,658	703,058
TOTAL 2020		527,567	175,491	703,058

		Preservat
		-ion of
		steam	Total	Total
		engines	funds	funds
		2021 5	2021 6	2020f
Staff costs		208,321	208,321	245,684
Garden costs	8 consumables	112,857	112,857	112,856
Maintenance	8 plant leasing	32,694	32,694	56,957
Fuel		9,107	9,107	16,349
Depreciation		50,372	50,3?2	44,402
Other running	costs	29,240	29,240	51,319
		442,591	442,591	527,567
TOTAL 2020		527,567	527,567

					Preservat-
					ion ofsteam	Total	Total
					engines	funds	funds
					2021f	2021 6	2020
Office rent	&	receivables			1,126	1,126	2,401
Heat & light					28,393	28,393	39,809
Insurances					29,698	29,698	30,601
Telephone,	radio and stationery				17,109	17,109	21,971
Travel					595	595	9,262
Bank charges					7,523	7,523	11,185
Bank interest					3,819	3,819	3,110
Advertising					15,118	15,118	47,540
Independent		Examiner's	renumeration	(governance)	10,686	10,686	9,612
					114,067	114,067	175,491
TOTAL 2020					175,491	175,491

	Group	Group	Group	Company	Company
	2021		2020	2021	2020
		F	6	6	6
Wages and salaries	203,294		238,295	189,371	223,457
Social security costs	9,856		12,505	9,856	12,505
Other pension costs	9,094		9,722	9,094	9,722
	222,244		260,522	208,321	245,684
The average number of persons employed	by the company	during	the year was as follows:
				Group	Group
				2021	2020
				No.	No.
Engineering
Office
General maintenance
Seasonal
Souvenirs
				17	15

	Long-term
	leasehold	Plant and	Other fixed
	property	machinery	assets	Total
	F	6		F
COST OR VALUATION
At 1 March 2020	768,320	306,817	180,419	1,255,556
Additions	15,081	12,022		2T,103
At 28 February 2021	783,401	318,839	180,419	1,282,659
DEPRECIATION
At 1 March 2020	341,9T6	283,765	180,419	806,160
Charge for the year	43,663	9,643		53,306
At 28 February 2021	385,639	293,408	180,419	859,466
NET BOOK VALUE
At 28 February 2021	397,762	25,431		423,193
At 29 February 2020	426,344	23,052		449,396

	Long-term
	leasehold	Plant and	Other fixed
	property F	machineryf	assets	Total 8
COST OR VALUATION
At 1 March 2020	768,320	253,099	180,419	1,201,838
Additions	15,081	11,793		26,874
At 26 February 2021	783,401	264,892	180,419	1,228,712
DEPRECIATION
At 1 March 2020	341,976	235,990	180,419	?58,385
Charge for the year	43,663	6,709		50,372
At 28 February 2021	385,639	242,699	180,419	808,757
NET BOOK VALUE
At 28 February 2021	397,762	22,193		419,955
At 29 February 2020	426,344	17,109		443,453

	28 February	28 February	28 February	28 February	28 February
	2021 6	2020 f	2019 6	2018	2017 F
ADDITIONS
Purchases			145		13,487
Donations				9,850
TOTAL ADDITIONS				9,850	13,487
DISPOSALS
Carrying value				1,750
Sale proceeds				1,458
TOTAL DISPOSALS
				3,208

							Group		Group		Company	Company
						28	February	29	February	28	February	29 February
							2021f		2020f		2021f	2020f
Raw	matedals	and	goods	for	resale		61„813		64,433		42,246	41,791

		Group	Group	Company	Company
		28 February	29 February	28 February	29 February
		2021 f	2020 F	2021	2020 F
DUE WITHIN	ONE YEAR
Trade debtors		54,669	42,663	4,762	925
Amounts owed by group undertakings				39,353	27,899
Other debtors		421	2,075	393	1,199
Prepayments	and accrued income	21,741	2,502	21,741	2,502
Tax recoverable		157	5,802	157	5,802
		76,988	53,042	66,406	38,327

					Group			Group		Company		Company
				28 February		29	February		28	February	29 February
					2021		2020			2021 6		2020 f
Bank overdrafts							23,361					23,361
Bank loans					22,545			14,474		22,545		14,474
Otherloans					10,000			10,000		10,000		10,000
Trade creditors					59,021			53,343		37„851		34,281
Other taxation and	social security				3,?05			3,850		3,?05		3,850
Other creditors					7,096			7,184		4,471		4,634
Accruals and deferred income					17,577			14,506		17,577		14,506
					119,944		126,718			96,149		105,106
Bank loans due within one year comprise:
- borrowings of 615,045 (2020 -		F14,474) which			are secured	over the commercial leasehold						property
known as the I and	at Bressingham,		Diss, Suffolk		and an unlimited			debenture		incorporating	a	fixed and
floating charge. Interest is payable		at	3.9%per annum.
-a Coronavirus Bounce Back Loan ofF7,500				which was drawn		down		in May	2020. There is		no	interest or
fees payable in the first 12 months.			After this 12 month period,				interest		will	be charged	at	2.5% per
annum.
					Group			Group		Company		Company
				28 February		29	February		28 February		29 February
					2021		2020			2021		2020
					6			6		6		F
DEFERRED INCOME
Deferred income at 1 March 2020					5,115			9,944		5,115		9,944
Resources deferred	during the year				4,384			84,419				84,419
Amounts released	from previous	periods			(957)		(89,248)					(89,248)
Deferred income at 28 February		2021			8,542			5,115		5,115		5,115

		Group	Group	Company	Company
	28 February		29 February	28 February	29 February
		2021 f	2020 F	2021 E	2020 f
Bank loans		50,246	22,791	50,246	22,791
Included within the above are amounts	falling due	as follows:
		Group	Group	Company	Company
	28 February		29 February	28 February	29 February
		2021 f	2020 f	2021 f	2020 F
BETWEEN ONE AND TWO YEARS
Bank loans		17,746	15,045	17,746	15,045
BETWEEN TWO AND FIVE YEARS
Bank loans		30,000	7,746	30,000	7,746
OVER FIVEYEARS
Bank loans		2,500		2,500

STAT'EMENT OF FUNDS	- CU	RRENT YEAR
						Balance at
		Balance at 1			Transfers	28 February
		March 2020	Income	Expenditure	in/out	2021
		6		6	6
UNRESTRICTED FUNDS
DESIGNATED FUNDS
Designated funds		724,670				724,670
GENERAL FUNDS
General funds		1,767,967	484,769	(323,754)	12,028	1,941,010
Subsidiary		22,236	39,497	(51,590)		10,143
		1,790,203	524,266	(375,344)	12,028	1,951,153
TOTAL UNRESTRICTED
FUNDS		2,514,873	524,266	(375,344)	12,028	2,675,823
RESTRICTED FUNDS
Restoration projects		22,522	1,936	(4,724)		19,734
Western Culture Fund			100,000		(1,602)	98,398
Culture Recovery Fund			193,409	(159,808)	(10,426)	23,175
National Lottery Heritage	Fund		55,000	(55,000)
		22,522	350,345	(219,532)	(12,028)	141,307
TOTAL OF FUNDS		2,537,395	874,611	(594,8?6)		2,817,130

STATEMEN	T OF FUNDS - PR	IOR YEAR
		Balance at				Balance at
		1 March			Transfers	29 February
		2019 F	Income	Expenditure	in/out 6	2020 f
UNRESTRICTED FUNDS
DESIGNATED FUNDS
Designated	funds	724,670				724,670
GENERAL	FUNDS
General funds		1,763,545	674,754	(679,558)	9,226	1,767,967
Subsidiary		21,108	88,313	(77,959)	(9,226)	22,236
		1,784,653	763,067	(757,517)		1,790,203
TOTAL UNRESTRICTED
FUNDS		2,509,323	763,067	(757,517)		2,514,873
RESTRICTED FUNDS
Restoration	projects	17,835	14,885	(10,198)		22,522
TOTAL OF	FUNDS	2,527,158	777,952	(767,715)		2,537,395

ANALYS	IS OF NET ASSETS BETWEEN FUNDS	- CURRENT YEAR
		Restricted	Unrestricted	Total
		funds	funds	funds
		28 February	28 February	28 February
		2021	2021f	2021 6
Tangible	fixed assets		423,193	423,193
Heritage	assets		2,061,220	2,061,220
Current	assets	144,628	358,279	502,907
Creditors	due within one year	(3,321)	(116,623)	(119,944)
Creditors	due in more than one year		(50,246)	(50,246)
TOTAL		141,307	2,675,823	2,817,130

		Restricted	Unrestricted	Total
		funds	funds	funds
		29 February	29 February	29 February
		2020	2020 6	2020f
Tangible	fixed assets		449,396	449,396
Heritage	assets		2,061,220	2,061,220
Current	assets	22,522	153,766	176,288
Creditors	due within one year		(126,718)	(126,718)
Creditors	due in more than one year		(22,791)	(22,791)
		22,522	2,514,873	2,537,395

		Group	Group
		28 February	29 February
		2021	2020
		6	E
Net income for the year (as per Statement ofFinancial Activities)		279,735	10,237
ADJUSTMENTS FOR:
Depreciation charges		53,306	47,970
Interest paid		3,532	3,102
Dividends, interests	and rents from investments	(16)	(28)
Decrease in stocks		2,620	208
Decrease/(increase)	in debtors	(4,605)	(13,471)
Increase/(decrease)	in creditors	8,577	4,682
NET CASH PROVIDED BYOPERATING ACTIVITIES		343,149	52,700
ANALYSIS OF CASH AND CASH EQUIVALENTS
		Group	Group
		28 February	29 February
		2021	2020
		6	E
Cash in hand		364,106	58,813
TOTAL CASH AND	CASH EQUIVALENTS	364,106	58,813

						At 28
				At 1 March		February
				2020	Cash flows	2021
				6	6
Cash	at bank and in hand			58,813	305,293	364,106
Bank	overdrafts	repayable	on demand	(23,361)	23,361
Debt	due within	1 year		(24,474)	(8,071)	(32,545)
Debt	due after 1 year			(22,791)	(27,455)	(50,246)
				(11,813)	293,128	281,315

payments	under non-cancellable operating leases as follows:
		Group	Group
		28 February	29 February
		2021	2020
		6	F
Not later than 1 year		7,917	7,917
Later than	1 year and not later than 5years	21,784	23,751
Later than	5years		5,950
		29,701	37,618