5. CHAIRMANS REPORT ON BEHALF OF THE TRUSTEES April 16[th] 2025
In many ways this report is somewhat similar to last years and some things have not moved as fast as expected. I am also still here as chairman which I had hoped to be able to hand over this year! However, I will always be pleased to work with and assist new incumbents, before old age fully takes over.
The society, and that means primarily you our members, with key support from our staff, have been able to organize a really amazing range of events during the year in order to raise funds and keep the society going. Many thanks to all involved. I would also like to thank also the trustees, staff, regular site volunteers and other members co opted to help at trustee meetings for their support during the year.
We have sadly lost some good generally older members during the year and also some time served members are suffering from health problems and our thanks are due to them particularly. Although we are a society, we are actually a business which needs to make a profit. However, in the last few years the overheads have increased by more than 50% and this means it is much more difficult to make a reasonable profit. The costs of insurance, wages and fuel have risen dramatically, but we must have these in order to operate. Sadly a peddling harder situation in order to stand still! Fund raising is the key to developing the society.
A positive point is that we have now completed the final payments for the goods shed and it is now fully owned by the society.
For the coming year we once again have a large calendar of events plus additional events for hiring the goods shed. The range of events we offer is a strength of the society but also a weakness insofar as we then need a lot of different volunteers to run them.
The classic car show was run successfully by the society this year with in excess of 100 helpers and is now the largest single fund raiser of the year. Volunteer names for this year are now being taken!
We had hoped that the AGM would be moving back to December, but the final setting of the finances has taken longer than expected. Since most of the work is done by a small number of volunteers and the original computer systems needed updating, then necessarily delays have occurred. New computer software and hardware are planned to be installed by the time of this AGM
It is probable that when the CIO is up and running then the AGM will be moved to around this time of year and thus can be held in the warmer weather.
A major disappointment occurred during the year when we successfully applied for a Government Levelling Up Grant of £605k for some major enhancements of the railway. Unfortunately, when the new government came in, none of these Levelling Up grants were honoured. At least we have a plan for future railway developments if we can find another source of funds!
The CIO has been briefly mentioned, and following the taking of some legal advice as agreed in the last AGM, the changes necessary were confirmed as essentially across the patch and starting with new bank accounts.
Due to the volunteer effort to progress the CIO being very limited, this work is now only slowly progressing and there will be a progressive running down of the existing society as the CIO is similarly built up. The legal advisors and accountants are in agreement with this arrangement. Regarding the Goods Shed, the requirement for a heating system was raised previously and an HLF grant application was subsequently made. Unfortunately this was not successful and we are looking at how this can be achieved by other funding methods during the summer this year. The shed floor condition was also mentioned last year and similarly a grant application was
proposed. Although actually after the period of this report, a Mick George grant application was successful and a new floor has been installed.
The shed indoor toilets are very near to completion with the materials supplied by a local house building company and all of our own volunteer labour. They will be in operation early in the forthcoming season.
The society has created in Rushden a significant community asset which is accessible from a large area, and we have very good support from the local councils. In order to continue to grow then we need volunteers from our membership. The membership is around 500 and is fairly constant so we do have a good pool to draw on but we need to be more active in welcoming and contacting members since there are lots of things to enjoy by getting involved! As last year, please accept the lack of individual thanks, so my thanks again to both staff and members who have contributed in any way during the last year.
Richard Lewis Chairman
CHARITY REGISTRATION NUMBER: 285535
Rushden Historical Transport Society Unaudited Financial Statements 30 September 2024
REID & CO CORPORATE SERVICES LIMITED
Chartered accountants Artemis House 4a Bramley Road Mount Farm Milton Keynes MK1 1PT
Rushden Historical Transport Society
Financial Statements
Year ended 30 September 2024
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 3 |
| Statement of financial activities | 4 |
| Statement of financial position | 5 |
| Notes to the financial statements | 6 |
| The following pages do not form part of the financial statements | |
| Detailed statement of financial activities | 17 |
| Notes to the detailed statement of financial activities | 19 |
Rushden Historical Transport Society
Trustees' Annual Report
Year ended 30 September 2024
The trustees present their report and the unaudited financial statements of the charity for the year ended 30 September 2024.
Reference and administrative details
Registered charity name Rushden Historical Transport Society Charity registration number 285535
Principal office
The trustees
Mr R Lewis Mr M Lawman Mr R Smith Mr D Chambers Mr D Floyd Mr J E Sugars Mr C R Robinson Independent examiner Reid & Co Corporate Services Limited Artemis House 4a Bramley Road Mount Farm Milton Keynes MK1 1PT
Structure, governance and management
The Charity is an unincorporated association governed by a constitution. Eligibility for the membership of the charity, and membership of the board of trustees is governed by the constitution. There are no restrictions in the governing document on the operation of the charity or on its investment powers, other than those imposed by general charity law.
The Charity has no responsibility for, nor is it answerable to, any other organisation.
The Charity is open to the usual financial risks of any organisation, and the Charity has introduced controls to minimise these risks. In addition, the accounts are regularly explained to members of the Charity and are open for member's inspection at any time.
Objectives and activities
To advance the education of the public in the history of transport and to provide a museum for the public exhibition of vehicles and other artifacts of relevant historical interest.
1
Rushden Historical Transport Society
Trustees' Annual Report (continued)
Year ended 30 September 2024
Achievements and performance
The trustees have resolved to establish reserves to provide for future activities, and to provide funding for any unexpected losses in the future.
The policy on reserves is that the existing assets are retained to produce income which is wholly utilised to support existing activities. there is no intention in the long term to either increase or decrease the capital significantly. This policy is justified in that it is necessary to preserve income at the present levels in order to maintain the activities of the Charity.
Financial review
The financial statements are set out on pages 4 to 13. The trustees consider the financial performance of the Charity during the year too have been satisfactory.
The statement of Financial Activities show net incoming resources for the year of a revenue nature of £1,343 (2023: outgoing £5,380)
The total reserves at the year end stand at £732,786 (2023: £731,443).
The trustees' annual report was approved on 9 April 2025 and signed on behalf of the board of trustees by:
Mr R Lewis Trustee
2
Rushden Historical Transport Society
Independent Examiner's Report to the Trustees of Rushden Historical Transport Society
Year ended 30 September 2024
I report to the trustees on my examination of the financial statements of Rushden Historical Transport Society ('the charity') for the year ended 30 September 2024.
Responsibilities and basis of report
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Reid & Co Corporate Services Limited Independent Examiner
Artemis House 4a Bramley Road Mount Farm Milton Keynes MK1 1PT
9 April 2025
3
Rushden Historical Transport Society
Statement of Financial Activities
Year ended 30 September 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 4 | 18,189 | – | 18,189 | 19,572 |
| Other trading activities | 5 | 308,969 | – | 308,969 | 290,582 |
| Investment income | 6 | 581 | – | 581 | 535 |
|
|
|
|
||
| Total income | 327,739 | – | 327,739 | 310,689 | |
|
|
|
|
||
| Expenditure | |||||
| Expenditure on raising funds: | |||||
| Costs of other trading activities | 7 | 209,267 | – | 209,267 | 208,627 |
| Expenditure on charitable activities | 8,9 | 103,077 | 4,084 | 107,161 | 98,787 |
| Other expenditure | 10 | 8,802 | 1,056 | 9,858 | 8,655 |
| Taxation | 11 | 110 | – | 110 | – |
|
|
|
|
||
| Total expenditure | 321,256 | 5,140 | 326,396 | 316,069 | |
|
|
|
|
||
|
|
|
|
||
| Net income/(expenditure) and net | |||||
| movement in funds | 6,483 | (5,140) | 1,343 | (5,380) | |
|
|
|
|
||
| Reconciliation of funds | |||||
| Total funds brought forward | 715,932 | 15,511 | 731,443 | 736,823 | |
|
|
|
|
||
| Total funds carried forward | 722,415 | 10,371 | 732,786 | 731,443 | |
|
|
|
|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 6 to 15 form part of these financial statements.
4
Rushden Historical Transport Society
Statement of Financial Position
30 September 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 16 | 760,501 | 752,401 |
| Investments | 17 | 2 | 2 |
|
|
||
| 760,503 | 752,403 | ||
| Current assets | |||
| Stocks | 18 | 12,655 | 12,655 |
| Debtors | 19 | – | 545 |
| Cash at bank and in hand | 65,272 | 111,797 | |
|
|
||
| 77,927 | 124,997 | ||
| Creditors: amounts falling due within one year | 20 | 33,644 | 28,957 |
|
|
||
| Net current assets | 44,283 | 96,040 | |
|
|
||
| Total assets less current liabilities | 804,786 | 848,443 | |
| Creditors: amounts falling due after more than one year | 21 | 72,000 | 117,000 |
|
|
||
| Net assets | 732,786 | 731,443 | |
|
|
||
| Funds of the charity | |||
| Restricted funds | 10,371 | 15,511 | |
| Unrestricted funds | 722,415 | 715,932 | |
|
|
||
| Total charity funds | 23 | 732,786 | 731,443 |
|
|
These financial statements were approved by the board of trustees and authorised for issue on 9 April 2025, and are signed on behalf of the board by:
Mr R Lewis Trustee
The notes on pages 6 to 15 form part of these financial statements.
5
Rushden Historical Transport Society
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is The Station, Station Approach, Rushden, Northants, NN10 0AW, England.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires trustees to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period.
Current tax is recognised on taxable income or expenditure for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
6
Rushden Historical Transport Society
Notes to the Financial Statements (continued)
Year ended 30 September 2024
3. Accounting policies (continued)
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
7
Rushden Historical Transport Society
Notes to the Financial Statements (continued)
Year ended 30 September 2024
3. Accounting policies (continued)
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
All assets are stated at cost price.
No depreciation is provided on fixed assets, as it is considered by the committee that their current value exceeds the book value in the accounts.
Investments
Unlisted equity investments are initially recorded at cost less impairment.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
8
Rushden Historical Transport Society
Notes to the Financial Statements (continued)
Year ended 30 September 2024
3. Accounting policies (continued)
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
9
Notes to the Financial Statements (continued)
Rushden Historical Transport Society
Year ended 30 September 2024
3. Accounting policies (continued)
Defined contribution plans (continued)
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Donations | |||||
| Donations | 18,189 | 18,189 | 19,572 | 19,572 | |
|
|
|
|
||
| 5. | Other trading activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Subscriptions | 9,090 | 9,090 | 8,970 | 8,970 | |
| Bar income | 235,101 | 235,101 | 216,588 | 216,588 | |
| Catering income | 4,734 | 4,734 | 13,407 | 13,407 | |
| Transport income | 58,179 | 58,179 | 48,592 | 48,592 | |
| Retail income | 1,865 | 1,865 | 3,025 | 3,025 | |
|
|
|
|
||
| 308,969 | 308,969 | 290,582 | 290,582 | ||
|
|
|
|
||
| 6. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Bank interest receivable | 581 | 581 | 535 | 535 | |
|
|
|
|
||
| 7. | Costs of other trading activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Costs of other trading activities | 209,267 |
209,267 |
208,627 |
208,627 |
10
Notes to the Financial Statements (continued)
Rushden Historical Transport Society
Year ended 30 September 2024
8. Expenditure on charitable activities by fund type
| Unrestricted | Restricted | Total Funds | ||
|---|---|---|---|---|
| Funds | Funds | 2024 | ||
| £ | £ | £ | ||
| Support costs | 103,077 | 4,084 | 107,161 | |
|
|
|
||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2023 | ||
| £ | £ | £ | ||
| Support costs | 35,808 | 62,979 | 98,787 | |
|
|
|
||
| 9. | Expenditure on charitable activities by activity | type | ||
| Total funds | Total fund | |||
| Support costs | 2024 | 2023 | ||
| £ | £ | £ | ||
| Governance costs | 107,161 | 107,161 | 98,787 | |
|
|
|
||
| 10. | Other expenditure | |||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2024 | ||
| £ | £ | £ | ||
| Other expenditure - Bank and credit card charges | 7,660 | – | 7,660 | |
| Other expenditure - Sundry expenses | 1,142 | 1,056 | 2,198 | |
|
|
|
||
| 8,802 | 1,056 | 9,858 | ||
|
|
|
||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2023 | ||
| £ | £ | £ | ||
| Other expenditure - Bank and credit card charges | 7,872 | – | 7,872 | |
| Other expenditure - Sundry expenses | 783 | – | 783 | |
|
|
|
||
| 8,655 | – | 8,655 | ||
|
|
|
||
| 11. | Taxation | |||
| Major components of tax expense | ||||
| 2024 | 2023 | |||
| £ | £ | |||
| Current tax: | ||||
| UK current tax expense | 110 | – | ||
|
|
|||
| Taxation | 110 | – | ||
|
|
11
Rushden Historical Transport Society
Notes to the Financial Statements (continued)
Year ended 30 September 2024
12. Net income/(expenditure)
Net income/(expenditure) is stated after charging/(crediting):
| Net income/(expenditure) is stated after charging/(crediting): | |||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Operating lease rentals | 8,859 | 11,566 | |
|
|
||
| 13. | Independent examination fees | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Fees payable to the independent examiner for: | |||
| Independent examination of the financial statements | 1,500 | 1,500 | |
|
|
14. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 85,654 | 75,573 |
| Social security costs | 90 | 2,869 |
| Employer contributions to pension plans | 1,087 | 884 |
| Other employee benefits | 1,987 | 4,558 |
|
|
|
| 88,818 | 83,884 | |
|
|
The average head count of employees during the year was 10 (2023: 11). The average number of full-time equivalent employees during the year is analysed as follows:
| 2024 | 2023 | |
|---|---|---|
| No. | No. | |
| Number of staff engaged on charitable activities | 10 | 11 |
|
|
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
15. Trustee remuneration and expenses
There were no fees or other remuneration paid to the trustees.
12
Notes to the Financial Statements (continued)
Rushden Historical Transport Society
Year ended 30 September 2024
16. Tangible fixed assets
| Freehold | Plant and | |||
|---|---|---|---|---|
| property | machinery | Total | ||
| £ | £ | £ | ||
| Cost | ||||
| At 1 October 2023 | 552,467 | 199,934 | 752,401 | |
| Additions | – | 8,100 | 8,100 | |
|
|
|
||
| At 30 September 2024 | 552,467 | 208,034 | 760,501 | |
|
|
|
||
| Depreciation | ||||
| At 1 October 2023 and 30 September 2024 | – | – | – | |
|
|
|
||
| Carrying amount | ||||
| At 30 September 2024 | 552,467 | 208,034 | 760,501 | |
|
|
|
||
| At 30 September 2023 | 552,467 | 199,934 | 752,401 | |
|
|
|
||
| 17. | Investments | |||
| Other | ||||
| investments | ||||
| £ | ||||
| Cost or valuation | ||||
| At 1 October 2023 | 2 | |||
| Additions | – | |||
|
||||
| At 30 September 2024 | 2 | |||
|
||||
| Impairment | ||||
| At 1 October 2023 and 30 September 2024 | – | |||
|
||||
| Carrying amount | ||||
| At 30 September 2024 | 2 | |||
|
||||
| At 30 September 2023 | 2 | |||
|
||||
| All investments shown above are held at valuation. | ||||
| 18. | Stocks | |||
| 2024 | 2023 | |||
| £ | £ | |||
| Raw materials and consumables | 12,655 | 12,655 | ||
|
|
|||
| 19. | Debtors | |||
| 2024 | 2023 | |||
| £ | £ | |||
| Trade debtors | – | 545 | ||
|
|
13
Notes to the Financial Statements (continued)
Rushden Historical Transport Society
Year ended 30 September 2024
20. Creditors: amounts falling due within one year
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors | 17,435 | 14,973 | |
| Accruals and deferred income | 4,300 | 6,550 | |
| Corporation tax | 110 | 72 | |
| Social security and other taxes | 11,799 | 7,362 | |
|
|
||
| 33,644 | 28,957 | ||
|
|
||
| 21. | Creditors: amounts falling due after more than one year | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Bank loans and overdrafts | 72,000 | 117,000 | |
|
|
22. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £1,087 (2023: £884).
23. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | At | ||||
| 1 | October 202 | 30 | Septembe | ||
| 3 | Income | Expenditure | r 2024 | ||
| £ | £ | £ | £ | ||
| General funds | 715,932 | 327,739 | (321,256) | 722,415 | |
|
|
|
|
||
| At | At | ||||
| 1 | October 202 | 30 | September | ||
| 2 | Income | Expenditure | 2023 | ||
| £ | £ | £ | £ | ||
| General funds | 658,333 |
310,689 |
(253,090) |
715,932 |
14
Notes to the Financial Statements (continued)
Rushden Historical Transport Society
Year ended 30 September 2024
23. Analysis of charitable funds (continued)
Restricted funds
| Restricted funds | |||||
|---|---|---|---|---|---|
| At | At | ||||
| 1 | October 202 | 30 | Septembe | ||
| 3 | Income | Expenditure | r 2024 | ||
| £ | £ | £ | £ | ||
| Restricted Fund | 15,511 | – | (5,140) | 10,371 | |
|
|
|
|
||
| At | At | ||||
| 1 | October 202 | 30 | September | ||
| 2 | Income | Expenditure | 2023 | ||
| £ | £ | £ | £ | ||
| Restricted Fund | 78,490 | – | (62,979) | 15,511 | |
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15
Rushden Historical Transport Society
Management Information
Year ended 30 September 2024
The following pages do not form part of the financial statements.
16
Rushden Historical Transport Society
Detailed Statement of Financial Activities
Year ended 30 September 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Donations | 18,189 | 19,572 |
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|
|
| Other trading activities | ||
| Subscriptions | 9,090 | 8,970 |
| Bar income | 235,101 | 216,588 |
| Catering income | 4,734 | 13,407 |
| Transport income | 58,179 | 48,592 |
| Retail income | 1,865 | 3,025 |
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|
| 308,969 | 290,582 | |
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|
| Investment income | ||
| Bank interest receivable | 581 | 535 |
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|
|
|
|
| Total income | 327,739 | 310,689 |
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17
Rushden Historical Transport Society
Detailed Statement of Financial Activities (continued)
Year ended 30 September 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Expenditure | ||
| Costs of other trading activities | ||
| Purchases | 111,590 | 112,977 |
| Wages and salaries | 85,654 | 75,573 |
| Employer's NIC | 90 | 2,869 |
| Pension costs | 1,087 | 884 |
| Other post-retirement benefits | 1,987 | 4,558 |
| Operating leases | 8,859 | 11,566 |
| Rent | – | 200 |
|
|
|
| 209,267 | 208,627 | |
|
|
|
| Expenditure on charitable activities | ||
| Rent | 1,950 | 1,502 |
| Rates and water | 6,919 | (2,885) |
| Light and heat | 16,808 | 10,887 |
| Repairs and maintenance | 15,691 | 4,774 |
| Insurance | 15,760 | 14,335 |
| Other establishment | 15,203 | 42,560 |
| Other motor/travel costs | 611 | 852 |
| Legal and professional fees | 7,584 | 11,600 |
| Telephone | 968 | 1,364 |
| Other office costs | 11,278 | 1,945 |
| laundry and cleaning | 10,729 | 7,856 |
| hire of equipment | 1,870 | 1,604 |
| advertising | 1,790 | 2,393 |
|
|
|
| 107,161 | 98,787 | |
|
|
|
| Other expenditure | ||
| Other expenditure - Bank and credit card charges | 7,660 | 7,872 |
| Other expenditure - Sundry expenses | 2,198 | 783 |
|
|
|
| 9,858 | 8,655 | |
|
|
|
| Taxation | ||
| Current taxation charge/credit | 110 | – |
|
|
|
|
|
|
| Total expenditure | 326,396 | 316,069 |
|
|
|
|
|
|
| Net income/(expenditure) | 1,343 | (5,380) |
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18
Rushden Historical Transport Society
Notes to the Detailed Statement of Financial Activities
Year ended 30 September 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Costs of other trading activities | ||
| Costs of other trading activities | ||
| Bar costs | 111,590 | 112,977 |
| Wages | 85,654 | 75,573 |
| employer's NIC | 90 | 2,869 |
| pension costs | 1,087 | 884 |
| Catering costs | 1,987 | 4,558 |
| Transport costs | 8,859 | 11,566 |
| Retail costs | – | 200 |
|
|
|
| 209,267 | 208,627 | |
|
|
|
|
|
|
| Costs of other trading activities | 209,267 | 208,627 |
|
|
|
| Expenditure on charitable activities | ||
| Governance costs | ||
| Governance costs - rent | 1,950 | 1,502 |
| Governance costs - rates & water | 6,919 | (2,885) |
| Governance costs - light & heat | 16,808 | 10,887 |
| Governance costs - repairs & maintenance | 15,691 | 4,774 |
| Governance costs - insurance | 15,760 | 14,335 |
| Governance costs - other establishment | 15,203 | 42,560 |
| Governance costs - other motor/travel costs | 611 | 852 |
| Governance costs - accountancy fees | 7,062 | 8,270 |
| Governance costs - legal and other professional fees | 522 | 3,330 |
| Governance costs - telephone | 968 | 1,364 |
| Governance costs - other office costs | 11,278 | 1,945 |
| Governance costs - laundry and cleaning | 10,729 | 7,856 |
| Governance costs - hire of equipment | 1,870 | 1,604 |
| Governance costs - advertising | 1,790 | 2,393 |
|
|
|
| 107,161 | 98,787 | |
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|
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|
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| Expenditure on charitable activities | 107,161 | 98,787 |
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19
Rushden Historical Transport Society Independent Examlner's Report to the Trustees of Rushden Hlstorical Transport Society Year ended 30 September 2024 I report to the trustees on my examination ol the financial statements of Rushden Hislorlcal Tr8n5POrt So¢iely I'lhe charily'l lor th8 year tsndtrd 30 September 2024. Responslbllltles and ba$ls of rgport Having satisfied myself Ihal th6 accounts ol Ihg ¢ompany are not roqulred lo be audited under Part 16 ol the 2006 Act and are eligible lor independenl examination, I report in respect ol my examination of your charity's a¢¢ounls as ¢arried out under section 145 01 the Charities Act 2011 1.the 2011 Act'l. In carrying out my examinatSon I have lollowed the Directions glven by the Charliy Commission under secilon 145151 Ibl ol the 2011 Act. Indapend8nt examlnorfs statemanl Since the charity's gross income exceeded £250.000 your examiner musl be a member ol a body listed in sèction 145 01 thè 2(111 Ael. I confirm Ihat l am qualified to undertake the examination because l am a member ol the Institute ol Chartered Accountants in England and Wales IIGAEWI. whlch Is one ol the lisled bodles. I have completed rny examinallon. I conlirffl that no material matters have come lo my allontion in connèclson wllh the examination giving m& cause lo believe th81 in any material respect.. accounting records were not kept in respect ol the charity as requirttd by sÈ¢lion 130 01 the Act., or the financial staternents do not accord with thos& records., or the financial statements do not comply with thts applicable requiiements concerning the form and Conlenl ol accounts sel out in the Charities (Accounts and Reports) Regulalions 2008 other than any requirement that the accotynls give a 'lriJe and lair, view which is not a matter considered as part ol an independent examination. I havo no concerns and hav& com& across no other matters in connecliDn with the examSnallon lo which attention shoukj be drawn in this report in order lo enable a proper undersianding ol the accounts lo be rèachèd. Reid & Co Corporate Services Litnited Independent Examiner Artemis House 4a Bramley Road Mount Farin Milton K&ynes MK1 #PT 14 April 2025