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|Reference and Administrative|Reference and Administrative|Details|||
|---|---|---|---|---|
|Trustees' Report||||2 to 3|
|Independent
Auditors'|Report|||4to6|
|Consolidated
Statement|ofFinancial||Activities|7 to 8|
|Consolidated
Balance|Sheet||||
|Balance Sheet||||10|
|Notes to the Financial|Statements|||11 to 32|
##
||||Reference and Administrative|Reference and Administrative|Reference and Administrative|Details|
|---|---|---|---|---|---|---|
|Trustees|||N Acomb||||
||||A Archer||||
||||C S Langer||||
|Principal|Office||Markwick|Farm|||
||||Loxh ill||||
||||Godalming||||
||||Surrey||||
||||GU8 4BE||||
|Charity|Registration|Number|292240||||
|Bankers|||HSBC Pic||||
||||110High Street||||
||||Godalming||||
||||Surrey||||
||||GU7 1DP||||
|Auditor|||MMO Chartered||Accountants||
||||Wellesley|House|||
||||204 London Road||||
||||Waterlooville||||
||||Hampshire||||
||||PO7 7AN||||
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|||||Unrestricted|Restricted|Endowment|Total|
|---|---|---|---|---|---|---|---|
|||||funds|funds|funds|2020|
||||Note||8|||
|Income and Endowments||from:||||||
|Donations
and legacies||||296,505|||296,505|
|Charitable
activities||||11,931|||11,931|
|Other tiuding activities||||37,046|||37,046|
|Investment
income||||83,525|||83,525|
|Total income||||429,007|||429,007|
|Expenditure
on:||||||||
|Raising funds
Charitable
activities|||5|(77,623)
~4409,955|||(77,623)
~409,955)|
|Total expenditure||||(487,578)|||(487,578)|
|Gains/losses
on investment||assets||13,255|||13,255|
|Net expenditure||||(45,316|||45,316)|
|Net movement
in funds||||(45,316)|||(45,316)|
|Reconciliation
offunds||||||||
|Total funds brought|fonvard|||9,428, 193|651,551|633,650|10,713,394|
|Total funds carried|foiward||18|9,382,877|651,551|633,650|10,668,078|
##
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|||||Unrestricted|Restricted|Endowment|Total|
|---|---|---|---|---|---|---|---|
||||Note|funds|funds
f|funds
f|2019
f|
|Income and Endowments||from:||||||
|Donations
and legacies||||838,826|||838,826|
|Charitable
activities||||555,651|||555,651|
|Other trading
activities||||241,235|||241,235|
|Investment
income||||402,469|||402,469|
|Total income||||2,038,181|||2,038,181|
|Expenditure
on:||||||||
|Raising funds||||(339,677)|||(339,677)|
|Charitable
activities|||5|(1,098,337)|||(1,098,337)|
|Total expenditure||||(1,438,014)|||(1,438,014)|
|Gains/losses
on investment||assets||(98,339)|||(98,339)|
|Net income||||501,828|||501,828|
|Net movement
in funds||||501,828|||501,828|
|Reconciliation
offunds||||||||
|Total funds brought|forward|||8,926,365|651,551|633,650|10,211,566|
|Total funds carried|forward||18|9,428,193|651,551|633,650|10,713,394|
##
##
|||||||2020|2019|
|---|---|---|---|---|---|---|---|
||||||Note|||
|Fired assets||||||||
|Tangible
assets|||||11|3,501,037|3,275,602|
|Heritage
assets|||||12|3,303,362|3,303,362|
|Inveshnents||||||3,295,294|3,370,215|
|||||||10,099,693|9,949, 179|
|Current
assets||||||||
|Stocks|||||14|83,883|46,710|
|Debtors|||||15|56,089|130,838|
|Cash at bank|and in hand||||16|935,514|741,137|
|||||||1,075,486|918,685|
|Creditors:
Amounts||falling due within||one year|17|(483,602)|(130,971)|
|Net current|assets|||||591,884|787,714|
|Total assets|less current||liabilities|||10,691,577|10,736,893|
|Creditors: Amounts||falling due after||more than one year||(23,499)|(23,499)|
|Net assets||||||10,668,078|10,713,394|
|Funds ofthe|group:|||||||
|Endowment|funds|||||633,650|633,650|
|Restricted
income funds||||||||
|Restricted
funds||||||651,551|651,551|
|Unrestricted|income|funds||||||
|Unrestricted|funds|||||9,382,877|9,428, 193|
|Total funds||||||10,668,078|10,713,394|
##
##
||||Balan|ce Sheet as at 3|1December 2020|||
|---|---|---|---|---|---|---|---|
|||||||2020|2019|
||||||Note|K||
|Fixed assets||||||||
|Heritage
assets|||||12|10,100|10,100|
|InvestmeITts||||||3,233,277|3,310,842|
|||||||3,243,377|3,320,942|
|Current
assets||||||||
|Debtors|||||15|4,271,372|4,137,867|
|Cash at bank||and in hand|||16|544,546|506,351|
|||||||4,815,918|4,644,218|
|Creditors:|Amounts||falling due ivithin|one year|17|(6,282)|(6,280)|
|Net current||assets||||4,809,636|4,637,938|
|Net assets||||||8,053,013|7,958,880|
|Funds ofthe||charity:||||||
|Unrestricted||incoiue|funds|||||
|Unrestricted||funds||||8,053,013|7,958,880|
|Total funds|||||18|8,053,013|7,958,880|
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|2|Income from|donations
and|legacies|||
|---|---|---|---|---|---|
|||||Unrestricted||
|||||fuads|Total|
|||||General|fundsf|
|Donations
and legacies;||||||
||Donations
from|individuals||13,826|13,826|
||Legacies|||149,431|149,431|
|Grants, including||capital grants;||||
||Government
grants|||133,248|133,248|
|Total for 2020||||296,505|296,505|
|Total for 2019||||838,826|838,826|
|3|Income from|other trading|activities|||
|3
Income from|other trading
activities|||
|---|---|---|---|
|||Unrestricted||
|||funds|Total|
|||General|fundsf|
|Trading income;||||
|Other trading|income|16,094|16,094|
|Other income from other trading activities||20,952|20,952|
|Total for 2020||37,046|37,046|
|Total for 2019||241,235|241,235|
##
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##
||||||||Unrestricted||
|---|---|---|---|---|---|---|---|---|
||||||||funds|Total|
||||||||General|funds|
||||||||f||
|Income from|dividends;||||||||
|Dividends|receivable|||fiom other listed investments|||71,846|71,846|
|Other income|from||fixed asset||investmenis||11,679|11,679|
|Total for 2020|||||||83,525|83,525|
|Total for 2019|||||||402,469|402,469|
|5
Expenditure||on charitable|||activities||||
||||||||Unrestricted||
||||||||funds|Total|
||||||||General|funds|
|||||||Note|||
|Train fares|||||||76,453|76,453|
|Staff costs|||||||15,599|15,599|
|Allocated
support|||costs||||150,901|150,901|
|Governance|costs||||||167,002|167,002|
|Total for 2020|||||||409,955|409,955|
|Total for 2019|||||||1,098,337|1,098,337|
##
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##
##
||||||Unrestricted||
|---|---|---|---|---|---|---|
||||||funds|Total|
||||||General|funds|
||||||f||
|Staff costs|||||||
|Wages and salaries|||||71,058|71,058|
|Audit fees|||||||
|Audit ofthe financial|||statements||4,443|4,443|
|Legal fees|||||3,050|3,050|
|Marketing|and publicity||||13,504|13,504|
|Depreciation,
amortisation||||and other similar costs|64,747|64,747|
|Other governance||costs|||10,200|10,200|
|Total for|2020||||167,002|167,002|
|Total for|2019||||292,593|292,593|
##
##
##
|The aggregate
payroll costs were as follows:|||
|---|---|---|
||2020|2019|
||f.||
|Staff costs during the year were:|||
|Wages and salaries|89,350|324,431|
|Other staff costs|10|5,251|
||89,360|329,682|
|year expressed|as full time equivalents
was as follows:|||||
|---|---|---|---|---|---|
|||2020||2019||
|||No||No||
|Operation of|the railway||34||35|
|Administration|and support||5||6|
||||39||41|
##
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##
|||Land and|Furniture
and||
|---|---|---|---|---|
|||buildings|equipmcnt|Total|
|||8|||
|Cost|||||
|At|1 January 2020|2,822,988|1,245,409|4,068,397|
|Additions|||290,182|290,182|
|At|31December 2020|2,822,988|1,535,591|4,358,579|
|Depreciation|||||
|At|1 January 2020|186,820|605,975|792,795|
|Charge for the year||34,012|30,735|64,747|
|At|31Decentber 2020|220,832|636710|857 542|
|Net book value|||||
|At|31December 2020|2,602,156|898,881|3,501,037|
|At|31 December 2019|2,636,168|639,434|3,275,602|
##
##
|12 Heritage assets||||
|---|---|---|---|
|Group||||
||Other heritage|||
||asset class|I|Total|
||f|||
|Cost||||
|At I Januaty 2020|3,303,362||3,303,362|
|At 31December 2020|3,303,362||3,303,362|
|Depreciation||||
|At 31December 2020||||
|Nct bookvalue||||
|At 31December 2020|3,303,362||3,303,362|
|Charity||||
||Other heritage|||
||asset class|1|Total|
||f|||
|Cost||||
|At 1 Januaty 2020|3,303,362||3,303,362|
|At 31 December 2020|3,303,362||3,303,362|
|Depreciation||||
|At 31December 2020||||
|Net book value||||
|At 31December 2020|3,303,362||3,303,362|
##
##
##
|Group||||||
|---|---|---|---|---|---|
|||||2020f|2019|
|Shares|in group undertakings|and participating|interests|506,756|506,756|
|Other|investments|||2,788,538|2,863,459|
|||||3,295,294|3,370,215|
##
|Shares in group undertakings
and participating
int|erests||
|---|---|---|
||Subsidiary||
||undertakings|Totalf|
|Cost|||
|At
1 January 2020|506,756|506,756|
|At 31December 2020|506,756|506,756|
|Net bookvalue|||
|At 31 December 2020|506,756|506,756|
|At 31December 2019|506,756|506,756|
##
##
|Other investntents|||
|---|---|---|
||Listed||
||investments|Total|
|||f|
|Cost or Valuation|||
|At 1 January 2020|2 863459|2 863459|
|Revaluation|295,561|295,561|
|Additions
Disposals|5,666
~13,511)|5,666
~(13.5ll|
|At 31December 2020|3,151,175|3,151,175|
|Provision for impairruent|||
|Elhninated
on disposal|362,637|362,637|
|At 31 December 2020|362,637|362,637|
|Net book value|||
|At 31December 2020|,788.538|2788538|
|At 31 December 2019|2,863,459|2,863,459|
##
##
##
|Charity|||||
|---|---|---|---|---|
||||2020f|2019|
|Shares in group undertakings|and participating|interests|506,756|506,756|
|Other investments|||2,788,538|2,863,459|
||||3,295,294|3,370,215|
##
|Shares in group undertakings
and participating
inter|ests|||
|---|---|---|---|
||Subsidiary|||
||undertakings|Totalf||
|Cost||||
|At 1 January 2020|506,756|506,756||
|At 31December 2020|506,756|506,756||
|Net book value||||
|At 31December 2020|506,756|506,756||
|At 31 December 2019|506,756|506.756||
|Other investments||||
||Listed|||
||investments|Totalf||
|Cost or Valuation||||
|At 1 January 2020|2,804,086|2,804,086||
|Revaluation|285,072|285,072||
|At 31 December 2020|3,089,158|3,089,158||
|Provision
for impairrucnt||||
|Eliminated
on disposal|362,637|362,637||
|At 31December 2020|362,637|362,637||
|Nct book value||||
|At 31 December 2020|2,72 6,527|2,72 6,5|7|
|At 31December 2019|2,80,086|2,804,086||
##
##
##
|are as follow|s:||||||||
|---|---|---|---|---|---|---|---|---|
|||Country of||Proportion|ofvoting|rights|Principal||
|Undertaking||incorporation|Holding|and shares|held||activity||
|||||2020|2019||||
|Subsidiary|undertakings||||||||
||||||||Operation|of|
|Vale ofRheidol Railway
Limited||England &Wales|Ordinary|99'/o|99'/o||heritage
railway||
|14 Stock|||||||||
|||||Group|||Charity||
|||||2020|2019||2020||
||||||f||||
|Stocks||||83,883|46,710||||
|15 Debtors|||||||||
||||Group|||Charity|||
||||2020
f.|2019|2020||2019
f||
|Tmde debtors|||32,315|31,698|||||
|Due from group undertakings|||||4,271,372||4,137,867||
|Prepayments|||450|450|||||
|VAT recoverable|||13,591|66,413|||||
|Other debtors|||9,733|32,277|||||
||||56,089|130,838|4,271,372||4,137,867||
|16 Cash and cash equivalents|||||||||
||||Group|||Charity|||
||||2020|2019|2020||2019||
|||||f|||||
|Cash on hand|||3,555|4,859|||||
|Cash at bank|||931,959|736,278|544,546||506,351||
||||935,514|741,137|544,546||506,351||
##
##
##
|17 Creditors:|aruounts
falling due with|in
one year|||||
|---|---|---|---|---|---|---|
|||Croup|||Charity||
|||2020f|2019|2020
f||2019|
|Trade creditors||13,234|26,318||||
|Hire purchase|and finance leases|3,574|7,989||||
|Other taxation|and social security|54,376|64,994||||
|VAT grant repayable||2,734|13,651||||
|Other creditors||386,372|||||
|Accmals||22,062|16,769|6,282||6/80|
|Deferred income||1,250|1,250||||
|||483,602|130,971|6,282||6,280|
|Group||||||||
|---|---|---|---|---|---|---|---|
||||||||Balance at|
||||Balance at I|||Other|31|
||||January|Incoming|Resources|recognised|December|
||||2020
f|resources|expended|gains/(losses)
f|2020f|
|Unrestricted||funds||||||
|General||||||||
|Unrestricted||funds|9,428, 193|429,007|(487,578)|13,255|9,382,877|
|Restricted|funds|||||||
|Restricted||funds|651,551||||651,551|
|Evperrdable||||||||
|Endowment||funds|633,650||||633,650|
||||633,650||||633,650|
|Total funds|||0713394|4 9007|~487878|13277|10668078|
##
||||||||Balance at|
|---|---|---|---|---|---|---|---|
||||Balance at I|||Other|31|
||||January|Incoming|Resources|recognised|December|
||||2019|resources
f|expended
f|gAins/(losses)|2019
f|
|Unrestricted||fuads||||||
|Genernl||||||||
|Unrestricted||funds|8,926,364|2,038,181|(1,438,014)|(98,338)|9,428, 193|
|Restricted|funds|||||||
|Restricted||funds|651,551||||651,551|
|Expends/)fe||||||||
|Endowment||funds|633,650||||633,650|
||||633,650||||633,650|
|Total funds|||10211363|2038181|)14380 4)|~98338|10713394|
##
##
|Charity|||||||||
|---|---|---|---|---|---|---|---|---|
||||||||Other|Balance at 31|
|||Balance at I||Inconiing|||recognised|Deceiaber|
|||January 2020||resources
f||gains/(losses)||2020|
|Unrestricted|funds||||||||
|General|||||||||
|Unrestricted|funds||7,958,880||80,881||13,252|8,053,013|
|||||||||Balance at|
|||Balance at I|||||Other|31|
|||January|Incoming||Rmources||recognised|December|
|||2019|resources
f||expended||gains/(losses)
f|2019f|
|Unrestricted|funds||||||||
|General|||||||||
|Unrestricted|funds|7672973||402469|~38224||~98338|7938880|