| Trustees | C R Leah, | Chairman | Chairman | Chairman | |
|---|---|---|---|---|---|
| C Bustard | |||||
| R Ellis | |||||
| A Gardner-Collie | |||||
| P A Meade | |||||
| J Phillips | |||||
| J F Wilson | |||||
| Company | registered | ||||
| number | 01130628 | ||||
| Charity registered | |||||
| number | 266374 | ||||
| Registered | office | Bressingham | Steam Museum | ||
| Low Road | |||||
| Diss | |||||
| Norfolk | |||||
| IP22 2AA | |||||
| Company | secretary | J F Wilson | |||
| Accountants | Peters Elworthy | & Moore | |||
| Chartered | Accountants | ||||
| Salisbury | House | ||||
| Station Road | |||||
| Cambridge | |||||
| CB1 2LA | |||||
| Bankers | I loyds 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. Edmonds | |||||
| Suffolk | |||||
| IP33 3TU |
| Unrestricted | Restricted | Total | Total | |||
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| 2022 | 2022 | 2022 | 2021 | |||
| Note | 5 | 5 | E | |||
| INCOME FROM: | ||||||
| Donations | 88,078 | 8,599 | 96,677 | 239,552 | ||
| Charitable activities |
683,784 | 683,784 | 302,740 | |||
| Other trading activities - commercial |
||||||
| trading | 80,324 | 80,324 | 43,823 | |||
| Investments | 12 | 12 | 16 | |||
| Other income | 28,702 | 42,139 | 70,841 | 288,480 | ||
| TOTAL INCOME | 880,900 | 50,738 | 931,638 | 874,611 | ||
| EXPENDITURE ON: | ||||||
| Raising funds | 106,193 | 106,193 | 38,218 | |||
| Charitable activities |
658,562 | 81,146 | 739,708 | 556,658 | ||
| TOTAL EXPENDITURE | 764,755 | 81,146 | 845,901 | 594,876 | ||
| NET INCOME/(EXPENDITURE) | 116,145 | (30,408) | 85,737 | 279,735 | ||
| Transfers between | funds | 20 | 90,684 | (90,684) | ||
| NET MOVEMENT | IN FUNDS | 206,829 | (121,092) | 85,737 | 279,735 | |
| RECONCILIATION | OF FUNDS: | |||||
| Total funds brought | forward | 2,675,823 | 141,307 | 2,817,130 | 2,537,395 | |
| Net movement in funds |
206,829 | (121,092) | 85,737 | 279,735 | ||
| TOTAL FUNDS CARRIED FORWARD | 2,882,652 | 20,215 | 2,902,867 | 2,817,130 |
| CONSOLIDATED | BALANCE SHEET | ||||
|---|---|---|---|---|---|
| AS AT 28 FEBRUARY 2022 | |||||
| 2022 | 2021 | ||||
| Note | 6 | 6 | |||
| FIXEDASSETS | |||||
| Tangible assets | 12 | 463,474 | 423,193 | ||
| Heritage assets | 13 | 2,067,170 | 2,061,220 | ||
| 2,530,644 | 2,484,413 | ||||
| CURRENT ASSETS | |||||
| Stocks | 16 | 60,012 | 61,813 | ||
| Debtors | 17 | 25,288 | 76,988 | ||
| Cash at bank and | in hand | 449,239 | 364,106 | ||
| 534,539 | 502,907 | ||||
| Creditors: amounts | falling due within | one | |||
| year | 18 | (129,816) | (119,944) | ||
| NET CURRENT ASSETS | 404,723 | 382,963 | |||
| TOTAL ASSETS LESSCURRENT | |||||
| LIABILITIES | 2,935,367 | 2,867,376 | |||
| Creditors: amounts | falling due after | more | |||
| than one year | 19 | (32,500) | (50,246) | ||
| TOTAL NET ASSETS | 2,902,867 | 2,817,130 | |||
| CHARITY FUNDS | |||||
| Restricted funds | 20 | 20,215 | 141,307 | ||
| Unrestricted funds |
20 | 2,882,652 | 2,675,823 | ||
| TOTAL FUNDS | 2,902,867 | 2,817,130 |
| COMPANY | BALANCE SHEET | |||||
|---|---|---|---|---|---|---|
| AS AT 28 | FEBRUARY 2022 | |||||
| 2022 | 2021 | |||||
| Note | E | |||||
| FIXEDASSETS | ||||||
| Tangible assets | 12 | 454,576 | 419,955 | |||
| Heritage assets | 13 | 2,067,170 | 2,061,220 | |||
| Investments | 15 | 100 | 100 | |||
| 2,521,846 | 2,481,275 | |||||
| CURRENT ASSETS | ||||||
| Stocks | 16 | 37,297 | 42,246 | |||
| Debtors | 17 | 65,475 | 66,406 | |||
| Cash at bank and | in hand | 448,589 | 363,455 | |||
| 551,361 | 472,107 | |||||
| Creditors: amounts | falling due within | one | ||||
| year | 18 | (105,894) | (96,149) | |||
| NET CURRENT ASSETS | 445,467 | 375,958 | ||||
| TOTAL ASSETSLESSCURRENT | ||||||
| LIABILITIES | 2,967,313 | 2,857,233 | ||||
| Creditors: amounts | falling due after | more | ||||
| than one year | 19 | (32,500) | (50,246) | |||
| TOTAL NET ASSETS | 2,934,813 | 2,806,987 | ||||
| CHARITY FUNDS | ||||||
| Restricted funds | 20 | 20,215 | 141,307 | |||
| Unrestricted funds |
20 | 2,914,598 | 2,665,680 | |||
| TOTAL FUNDS | 2,934,813 | 2,806,987 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Note | 5 | |||||
| CASH FLOWS FROM OPERATING ACTIVITIES | ||||||
| Net cash provided by operating activities |
22 | 227,241 | 323,808 | |||
| CASH FLOWS FROM INVESTING | ACTIVITIES | |||||
| Dividends, interests and rents from |
investments | 12 | 16 | |||
| Purchase oftangible fixed assets |
(115,976) | (27,103) | ||||
| NET CASH USED IN INVESTING ACTIVITIES | (115,964) | (27,087) | ||||
| CASH FLOWS FROM FINANCING | ACTIVITIES | |||||
| Cash inflowe from new borrowing | 50,000 | |||||
| Repayments of borrowing |
(22,545) | (37,835) | ||||
| Interest paid | (3,599) | (3,593) | ||||
| NET CASH (USED IN)/PROVIDED | BYFINANCING | ACTIVITIES | (26,144) | 8,572 | ||
| CHANGE IN CASH AND CASH EQUIVALENTS |
IN | THE YEAR | 85,133 | 305,293 | ||
| Cash and cash equivalents at the beginning ofthe year |
364,106 | 58,813 | ||||
| CASH AND CASH EQUIVALENTS | AT THE END | OF THE YEAR | 23 | 449,239 | 384,106 |
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| funds | funds | funds | funds | ||
| 2022 F |
2022 6 |
2022 6 |
2021f | ||
| Donations | and gifts | 8.886 | 8,599 | 17,485 | 36,060 |
| Donations | under Gift Aid | 79,192 | 79,192 | 48,492 | |
| Grants | 155,000 | ||||
| 88,078 | 8,599 | 96,677 | 239,552 | ||
| TOTAL 2021 | 82,616 | 156,936 | 239,552 |
| Unrestricted | Total | Total | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | |||||||||
| 2022 | 2022 | 2021 | |||||||||
| 6 | 6 | ||||||||||
| Sundry | income | 2,646 | 2,646 | 4,326 | |||||||
| TOTAL | 2021 | 4,326 | 4,326 | ||||||||
| Sundry | income | includes | the | sale | ofgu(de | books | to | visitors. |
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2022 | 2022 | 2021 | |
| 6 | 6 | 6 | |
| Gift shop and cafS income | 77,678 | 77,678 | 39,497 |
| TOTAL 2021 | 39,497 | 39,497 |
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2022 | 2022 | 2021 | |
| F | E | 5 | |
| Gift shop and cafe expenses | 92,530 | 92,630 | 24,295 |
| Gift shop and cafe staff costs | 13,563 | 13,563 | 13,923 |
| 106,193 | 106,193 | 38,218 | |
| TOTAL 2021 | 38,218 | 38,218 |
| Activities | Support & | ||||
|---|---|---|---|---|---|
| undertaken | governance | Total | Total | ||
| directly | costs | funds | funds | ||
| 2022 6 |
2022 6 |
2022f | 2021f | ||
| Preservation | of steam engines | 597,512 | 142,196 | 739,708 | 556,658 |
| TOTAL 2021 | 442,591 | 114,067 | 556,658 |
| Preservat | ||||
|---|---|---|---|---|
| -ion of | ||||
| steam | Total | Total | ||
| engines | funds | funds | ||
| 2022 | 2022 | 2021 | ||
| 6 | 6 | 6 | ||
| Staff costs | 224,699 | 224,699 | 208,321 | |
| Garden costs | &consumables | 112,857 | 112,857 | 112,857 |
| Maintenance | &plant leasing | 120,853 | 120,853 | 32,694 |
| Fuel | 24,078 | 24,078 | 9,107 | |
| Depreciation | 66,165 | 66,165 | 50,372 | |
| Other running | costs | 48,860 | 48,860 | 29,240 |
| 597,512 | 597,512 | 442,591 | ||
| TOTAL 2021 | 442,591 | 442,591 |
| Preservat- | ||||||
|---|---|---|---|---|---|---|
| ion ofsteam | Total | Total | ||||
| engines | funds | funds | ||||
| 2022 | 2022 | 2021 | ||||
| 6 | 6 | 5 | ||||
| Office rent | &receivables | 1223 | 1 223 | 1,126 | ||
| Heat & light | 44,296 | 44,296 | 28,393 | |||
| Insurances | 33,266 | 33,266 | 29,698 | |||
| Telephone, | radio and stationery | 23,255 | 23,255 | 17,109 | ||
| Travel | 1,903 | 1,903 | 595 | |||
| Bank charges | 6,200 | 6,200 | 7,523 | |||
| Bank interest | 3,538 | 3,538 | 3,819 | |||
| Advertising | 15,399 | 15,399 | 15,118 | |||
| Independent | Examiner's | renumeration | (governance) | 13,116 | 13,116 | 10,686 |
| 142,196 | 142,198 | 114,067 | ||||
| TOTAL 2021 | 114,067 | 114,067 |
| Group | Group | Group | Company | Company | |||
|---|---|---|---|---|---|---|---|
| 2022 | 2021 | 2022 | 2021 | ||||
| 5 | 5 | 6 | 5 | ||||
| Wages and salaries | 217,743 | 203,294 | 204,180 | 189,371 | |||
| Social security costs | 11,496 | 9,855 | 11,496 | 9,856 | |||
| Other pension costs | 9,023 | 9,094 | 9,023 | 9,094 | |||
| 238,262 | 222,244 | 224,699 | 208,321 | ||||
| The average number |
ofpersons | employed | by the company | during | the year was as follows: | ||
| Group | Group | ||||||
| 2022 | 2021 | ||||||
| No. | No. | ||||||
| Engineering | |||||||
| Office | |||||||
| General maintenance | |||||||
| Seasonal | |||||||
| Souvenirs | |||||||
| 15 | 17 |
| Long-term | ||||||
|---|---|---|---|---|---|---|
| leasehold | Plant and | Otherfixed | ||||
| property | machinery | Event assets | assets | Total | ||
| 6 | E | E | F | 6 | ||
| COST OR VALUATION | ||||||
| At 1 March 2021 | 783,401 | 318,839 | 180,419 | 1,282,659 | ||
| Additions | 41,609 | 22,543 | 45,874 | 110,026 | ||
| At 28 February 2022 | 825,010 | 341,382 | 45,874 | 180,419 | 1,392,685 | |
| DEPRECIATION | ||||||
| At 1 March 2021 | 385,639 | 293,408 | 180,419 | 859,466 | ||
| Charge for the year | 46,031 | 14,022 | 9,692 | 69,745 | ||
| At 28 February 2022 | 431,670 | 307,430 | 9,692 | 180,419 | 929,211 | |
| NET BOOK VALUE | ||||||
| At 28 February 2022 | 393,340 | 33,952 | 36,182 | 463,474 | ||
| At 28 February 2021 | 397,762 | 25,431 | 423,193 |
| Long-term | |||||
|---|---|---|---|---|---|
| leasehold | Plant and | Fixtures and | Other fixed | ||
| property F. |
machinery 5 |
fittings 5 |
assets f |
Total E |
|
| COST OR VALUATION | |||||
| At 1 March 2021 | 783,401 | 264,892 | 180,419 | 1,228,712 | |
| Additions | 41,609 | 13,303 | 45,874 | 100,786 | |
| At 28 February 2022 | 825,010 | 278,195 | 45,874 | 180,419 | 1,329,498 |
| DEPRECIATION | |||||
| At 1 March 2021 | 385,639 | 242,699 | 180,419 | 808,757 | |
| Charge for the year | 46,031 | 10,442 | 9,692 | 66,165 | |
| At 28 February 2022 | 431,670 | 253,141 | 9,692 | 180,419 | 874,922 |
| NET BOOK VALUE | |||||
| At 28 February 2022 | 393,340 | 25,054 | 36,182 | 454,576 | |
| At 28 February 2021 | 397,762 | 22,193 | 419,955 |
| Heritage | |||||||
|---|---|---|---|---|---|---|---|
| assets | Total | ||||||
| 2022 | 2022 | ||||||
| Carrying | value | at | 1 | March | 2021 | 2,061,220 | 2,061,220 |
| Additions | 5,950 | 5,950 | |||||
| 2,067,170 | 2,067,170 |
| 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|
| E | F | 6 | |||
| ADDITIONS | |||||
| Purchases | 5,950 | 145 | |||
| Donations | 9,850 | ||||
| TOTAL ADDITIONS | 5,950 | 145 | 9,850 | ||
| DISPOSALS | |||||
| Carrying value |
1,750 | ||||
| Sale proceeds | 1,458 | ||||
| TOTAL DISPOSALS | 3,208 |
| Group | Group | Company | Company | ||
|---|---|---|---|---|---|
| 2022 | 2021 | 2022 | 2021 | ||
| 6 | E | 5 | 5 | ||
| Raw materials | and goods for resale | 60,012 | 61,813 | 37,297 | 42,246 |
| DEBTORS | |||||
| Group | Group | Company | Company | ||
| 2022 | 2021 | 2022 | 2021 | ||
| 6 | 6 | 5 | |||
| DUE WITHIN | ONE YEAR | ||||
| Trade debtors | 21,769 | 54,669 | 2,287 | 4.762 | |
| Amounts owed by group undertakings |
59,669 | 39,353 | |||
| Other debtors | 1,623 | 421 | 1,623 | 393 | |
| Prepayments | and accrued income | 1,126 | 21,741 | 1,126 | 21,741 |
| Tax recoverable | 770 | 157 | 770 | 157 | |
| 25,288 | 76,988 | 65,475 | 66,406 |
| Group | Group | Company | Company | ||
|---|---|---|---|---|---|
| 2022 5 |
2021 5 |
2022f | 2021 5 |
||
| Bank loans | 17,746 | 22,545 | 17,746 | 22,545 | |
| Other loans | 10,000 | 10,000 | 10,000 | 10,000 | |
| Trade creditors | 70,692 | 59,021 | 50,988 | 37,851 | |
| Other taxation and social security | 6,555 | 3,705 | 5,137 | 3,705 | |
| Other creditors | 4,686 | 4,471 | 4,686 | 4,471 | |
| Accruals and deferred |
income | 20,137 | 20,202 | 17,337 | 17,577 |
| 129,816 | 119,944 | 105,894 | 96,149 |
| Group | Group | Company | Company | |||
|---|---|---|---|---|---|---|
| 2022 5 |
2021 5 |
2022 | 2021f | |||
| DEFERRED INCOME | ||||||
| Deferred | income at 1 March 2021 | 8,542 | 5,115 | 5,115 | 5,115 | |
| Resources deferred during the year |
1,297 | 4,384 | 1,297 | |||
| Amounts | released from previous | periods | (1,428) | (957) | 1,999 | |
| Deferred | income at 28 February | 2022 | 8,411 | 8,542 | 8,411 | 5,115 |
| Group | Group | Company | Company | |
|---|---|---|---|---|
| 2022 5 |
2021 6 |
2022 E |
2021 f |
|
| Bank loans | 32,500 | 50,246 | 32,500 | 50,246 |
| Included within the above are amounts |
falling due as follows: | |||
| Group | Group | Company | Company | |
| 2022 | 2021 | 2022 | 2021 | |
| 5 | 6 | E | 5 | |
| BETWEEN ONE AND TWO YEARS | ||||
| Bank loans | 10,000 | 17,746 | 10,000 | 17,746 |
| BETWEEN TWO AND FIVEYEARS | ||||
| Bank loans | 22,500 | 30,000 | 22,500 | 30,000 |
| OVER FIVEYEARS | ||||
| Bank loans | 2,500 | 2,500 |
| STATEMENT OF | FUNDS ~C |
URRENT YEAR | ||||
|---|---|---|---|---|---|---|
| Balance at | ||||||
| Balance at 1 | Transfers | 28 February | ||||
| March 2021 5 |
Income F |
Expenditure f |
in/out 5 |
2022 6 |
||
| UNRESTRICTED | FUNDS | |||||
| DESIGNATED FUNDS | ||||||
| Designated funds |
724,670 | 724,670 | ||||
| GENERAL FUNDS | ||||||
| General funds | 1,941,010 | 803,222 | (644,989) | 90,684 | 2,189,927 | |
| Subsidiary | 10,143 | 77,678 | (119,766) | (31,945) | ||
| 1,951,153 | 880,900 | (764,755) | 90,684 | 2,157,982 | ||
| TOTAL UNRESTRICTED | ||||||
| FUNDS | 2,675,823 | 880,900 | (764,755) | 90,684 | 2,882,652 | |
| RESTRICTED FUNDS | ||||||
| Restoration projects |
19,734 | 8,599 | (8,118) | 20,215 | ||
| Western Culture |
Fund | 98,398 | (6,778) | (91,620) | ||
| Culture Recovery | Fund | 23,175 | 42,139 | (66,250) | 936 | |
| 141,307 | 50,738 | (81,146) | (90,684) | 20,215 | ||
| TOTAL OF FUNDS | 2,817,130 | 931,638 | (845,901) | 2,902,867 |
| STATEMENT OF | FUNDS - P | RIOR YEAR | ||||
|---|---|---|---|---|---|---|
| Balance at | ||||||
| Balance at | Transfers | 28 February | ||||
| 1 March 2020 | Income | Expenditure | in/out | 2021 | ||
| 6 | F | 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 | |
| South Norfolk Grant | 55,000 | (55,000) | ||||
| 22,522 | 350,345 | (219,532) | (12,028) | 141,307 | ||
| TOTAL OF FUNDS | 2,537,395 | 874,611 | (594,876) | 2,817,130 |
| ANALYS | IS O | F NET ASSETS BETWEEN FUND | S - CURRENT YEAR | ||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | |||
| funds | funds | funds | |||
| 2022 | 2022 | 2022 | |||
| E | 6 | ||||
| Tangible | fixed | assets | 463,474 | 463,474 | |
| Heritage | assets | 2,067,170 | 2,067,170 | ||
| Current | assets | 514,324 | 20,215 | 534,539 | |
| Creditors | due | within one year | (129,816) | (129,816) | |
| Creditors | due | in more than one year | (32,500) | (32,500) | |
| TOTAL | 2,882,652 | 20,215 | 2,902,867 |
| ANALYS | IS OF NET ASSETS BETWEEN FUNDS | - PRIOR YEAR | ||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||
| funds | funds | funds | ||
| 2021f | 2021 6 |
2021 | ||
| Tangible | fixed assets | 423,193 | 423,193 | |
| Heritage | assets | 2,061,220 | 2,061,220 | |
| Current | assets | 358,279 | 144,628 | 502,907 |
| Creditors | due within one year | (116,623) | (3,321) | (119,944) |
| Creditors | due in more than one year | (50,246) | (50,246) | |
| 2,675,823 | 141,307 | 2,817,130 |
| Group | Group | |||||||
|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||||
| 5 | 5 | |||||||
| Net income for the | year (as | per Statement | of Financial Activities) | 85,737 | 279,735 | |||
| ADJUSTMENTS FOR: | ||||||||
| Depreciation charges |
69,745 | 53,306 | ||||||
| Interest paid | 3,538 | 3,532 | ||||||
| Dividends, interests |
and rents from investments | (12) | (16) | |||||
| Decrease in stocks |
1,801 | 2,620 | ||||||
| Decrease/(increase) | in debtors | 51,700 | (4,605) | |||||
| Increase/(decrease) | in creditors | 14,732 | 6,577 | |||||
| NET CASH PROVIDED BYOPERATING | ACTIVITIES | 227,241 | 343,149 | |||||
| 23. | ANALYSIS OF CASH AND | CASH EQUIVALENTS | ||||||
| Group | Group | |||||||
| 2022 | 2021 | |||||||
| 5 | E | |||||||
| Cash in hand | 449,239 | 364,106 | ||||||
| TOTAL CASH AND | CASH | EQUIVALENTS | 449,239 | 364,106 | ||||
| 24. | ANALYSIS OF CHANGES | IN NET DEBT | ||||||
| At 28 | ||||||||
| At 1 March | February | |||||||
| 2021 5 |
Cash flows 6 |
2022f | ||||||
| Cash at bank and | in | hand | 364,106 | 85,133 | 449,239 | |||
| Debt due within 1 year |
(32,545) | 4,799 | (27,746) | |||||
| Debt due after 1 year | (50,246) | 17,746 | (32,500) | |||||
| 281,315 | 107,678 | 388,993 |
| payments | und | er non-cancellable operating lease |
s as follows: | |||
|---|---|---|---|---|---|---|
| Group | Group | Company | Company | |||
| 2022 | 2021 | 2022 | 2021 | |||
| E | F | E | F | |||
| Not later than | 1 year | 7,917 | 7,917 | 7,917 | 7,917 | |
| Later than | 1 year and not later than 5 years | 13,867 | 21,784 | 13,867 | 21,784 | |
| 21,784 | 29,701 | 21,784 | 29,701 |