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