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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||||
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||||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|
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|||||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|
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||||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|
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|||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||
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|||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||
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|||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||
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||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||
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|||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||
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||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||
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|||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||
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||||||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||
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||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|
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||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|
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||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|
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||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||
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||||||||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|
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||||||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|
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|||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||
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|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|
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|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|
##
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|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|
##
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|||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|
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