2022-12-31-accounts - Phyllis Rampton Narrow Gauge Railway Trust

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Reference and Administrative	Reference and Administrative
Trustees' Report			2 to 3
Independent Auditors'	Repots		4 to 7
Consolidated Statement	ofFmancial	Activities	tt to 9
Consolidated Balance	Sheet		10
Balance Sheet
Statement ofCash Flows			l2
Notes to the Financial	Statements		l3 to 34

		Phyllis Rampton	Phyllis Rampton	Narrow	Narrow	Narrow	Gauge	Railway Trust
			Reference and Administrative					Details
Charity	Registration	istumber	292240
			The charity		is incorporated		in Wales.
Auditor			MMO Chartered			Accountants
			Wellesley	Ilouse
			204 London		Road
			Waterlooville
			Hampshire
			P07 7AII
Bankers			IISBC Pic
			I IO Iligh Street
			Godalming
			Suney
			GU7 H7P

				Unrestricted	Restricted	Endowment	Total
			Note	funds	fundsf	fundsf	2022f
Income and Endolvmcnts		from:
Donations and legacies				10,287,247			10,287,247
Charitable activities				751,682			751,682
Other trading activltles				279,593			279,593
hlvcstnlcut lflconlc				96,866			96,866
Other income				28,369			28,369
Total income				11,443,757			11,443,757
Expenditure on:
Raismg funds				(187,522)			(187,522)
Charitable activities				(1,309,471)			(1,309,471)
Total expenditure				(1,496,993)			(1,496,993)
Net income				9,946,764			9,946,764
Ttansfers betlveen	funds			651,551	(651,551)
Net movement in funds				10,598,315	(651,551)		9,946,764
Reconciliation offunds
Total I'unde brouglu	I'orward			9,995,391	651,551	633,650	11,280,592
Total funds carried	forward		19	20,593,706		633,650	21,227,356

				Vnrestricted	Restricted	Emlownient	Total
				funds	funds	funds	2021
			iVote	g
Income and Endowments		from:
Donations and legacies				1,078,213			1,078,213
Charitable activities				533,778			533,778
Other trading activities				19,189			19,189
Illvestlllellt lllcolile				101,185			101,185
Other income				1,259			1,259
Total income				1,733,624			1,733,624
Expenditure on:
Raising funds Charitable activities				184,594 ~83t r I I)			184,594 (830,411)
Total expenditure				(645,817)			(645,817)
Net income				1,087,807			1,087,807
Net movement in I'unde				1,087,807			1,087,807
Reconciliation offunds
Total funds brought	forward			8,907,584	651,551	633,650	10,192,785
Total funds earned	fonvard		19	9,995,391	651,551	633,650	11,280,592

						2022	2021
					Note	K
Fixed assets
Tangible assets					ll	12,784,620	3,975,538
Heritage assets					12	4,511,991	3,308,168
Investments						2,673,657	2,949,931
						19,970,268	10,233,637
Current assets
Stocks					14	5,660	4,426
Debtors					15	5,590,717	418,862
Cash at bank	and in hand				16	847,887	759,261
						6,444,264	1,182,549
Creditors: Amounts			falling due ivithin one year		17	(134,378)	(135,693)
iNet current	assets					6,309,886	1,046,856
Total assets	less current			liabilities		26,280,154	11,280,493
Creditors: Amounts			falling due after more than one year		18	(5,052,899)
Net assets						21,227,255	11,280,493
Funds ofthe	group:
Endowment	funds					633,650	633,650
Restricted income		funds
Restricted funds					19		651,551
Unrestricted	income		funds
Called up share capital						(100)	(100)
Unrestricted	funds					20,593,705	9,995,392
Total unrestricted		funds				20,593,605	9,995,292
Total funds					19	21,227,255	11,280,493

		Balan	ce Sheet as at 3	1December 2022
					2022	2021
				Note
Fixed assets
I.leritage assets				12	10,100	10,100
Investments					2,602,759	2,893,037
					2,612,859	2,903,137
Current assets
Debtors				15	5,059,948	4,800,682
Cash at bank	and in hand			16	302,451	154,271
					5,362,399	4,954,953
Creditors: Amounts		falling due ivithin	one year	17	(2,100)	(2,100)
Net current	assets				5,360,299	4,952,853
Net assets					7,973,158	7,855,990
Funds ofthe	charity:
Unrestricted	inconie	funds
Unrestricted	funds				7,973,158	7,855,990
Total funds				19	7,973,158	7,855,990

Statemen	t	ofCash F	lows for the Y	ear Ended 31De	cember 2022
					2022	2021
				iVotc	f.
Cash flows from opm sting	activities
Net cash income					117,169	278,270
Adjustments to cash flows	from non-cash		items
l1lvestlilelit lllcoilie					(80,340)	(98,010)
1(evaluation ofinvestments					166,620	(104,027)
					203,449	76,233
Working capital adjustments
Increase in debtors				15	(259,266)	(529,310)
Decrease in creditors				17		(4, 181)
Net cash flows from operating		activities			(55,817)	(457,258)
Cash flows from investing	activities
Purchase oftangible fixed assets					(23,795)
Sale oftangible lixed assets					23,795
Purchase ofinvestments					(137,931)	(495,210)
Sale ol'investments					261,588	464,183
income iiom dividends					80,340	98,010
Net cash llows from mvesting		activities			203,997	66,983
Net increase/(decrease) m cash and cash equivalents					148,180	(390,275)
Cash and cash equivalents at		1 January			154,271	544,546
Cash and cash equivalents at		31 December			302,451	154,271

Asset	class		Depreciation method and rate
			Buildings that are under considerable
Land	and buildings		maintenance are not depreciated, others are at rates I'tom 7 to 50 years straight line
			basis
Plant	and machinery		10%or 20% or 25% straight lute basis
Motor	vehicles		20% straight line basis
Civil	engineenng	and track	2% straight line basis on track only

		Unrestrictetl
		funds	Total
		General	funds
		f	K
Donations and legacies;
Doliatiolls	fi'onl individuals	847,397	847,397
Legacies		166,000	166,000
Gifts in kind		9,273,850	9,273,850
Total for 2022		10,287,247	10,287,247
Total for 2021		1,078,213	1,078,213

				Utiresti'ictctt
				funds	Total
				General	funds
				t
Trading	mcome,
Shop	mcome	from snle ofdonated	goods and services	12,341	12,341
Other	trading	income		267,252	267,252
Total for 2022				279,593	279,593
Total for 2021				19,189	19,189

								Unrestricted
								funds	Total
								General	funds
								f	f.
Income from		dividends;
Dividends		receivable			from other listed investments			80,340	80,340
Other income		from		lixed asset		investments		16,52')	16,526
Total for 2022								96,866	96,866
Total for 2021								101,185	101,185
5 Expenditure			on charitable			activities
								Unrestricted
								funds	Total
								General	funds
							Note
Train fares								556,851	556,851
Stat'f costs								202,357	202,357
Allocated	support			costs				314,808	314,808
Governance		costs						235,455	235,455
Total for	2022							1,309,471	1,309,471
Total for	2021							830,411	830,411

				Unrestricted
				funds	Total
				General	funds
					f.
Staff costs
Wages and salaries				132,035	132,035
Audit fees
Audit ofthe	financial	statements		9,443	9,443
Legal fees				3,760	3,760
Marketing and publicity				I7,794	l7,794
Depreciation,	mnortisation		and other similar costs	72,423	72,423
Total for 2022				235,455	235,455
Total for 202	I			240,723	240,723

		2022	2021
		K	K
Staff costs during	the year ivcrc:
Wages and salaries		325,520	212,099
Other staff costs		8,872		7
		334,392	212,	106

dunng ihe ye	ar expressed as full time equivalents was as	t'olloivs:
		2022		2021
		iVo		iVo
Operation of	the railway		35		34
Adniinistration	and support		5		5
			40		39

The	number	ofemplo	yees ivhose emoluments fell within th	e lollowmg bands was:
				2022	2021
				iVo	iVo
f60,001 - 870,000					2
9	Auditors'	remuneration
				2022	2021
Audit ofthe		financial	statements	9,443	16,308
10	Taxation

Group
	Land and	Furniture and		Other tangible
	buildings f	equipment f	Motor vehicles f	fixed asset	Totalf
Cost
At I January 2022	3,660,469	1,282,377			4,942,846
Additions Disposals	8,821,640	36,447 3)	141,250 ~33),4 0)	23,795 (23,795)	9,023,132 (158,0783
At 31 December 2022	12,482,109	1,315,991	9,800		13,807,900
Depreciation
At I Janumy 2022	263,326	703,982			967,308
Charge tor ihe year		55,972			55,972
At 31 December 2022	263,326	759,954			1,023,280
)Nct book value
At 31 December 2022	12,218,783	556,037	9,800		12,784,620
At 31 December 2021	3,397,143	578,395			3,975,538

Group
		Other heritage
		asset class I	Total
		f	f
Cost
At I January	2022	3,308,168	3,308,168
Additions		1,210,872	1,210,872
Dtsposals		(7,049)	(7,049)
At 31 December 2022		4,511,991	4,511,991
Depreciation
At 31 December 2022
Net book value
At 31 December 2022		4,511,991	4,511,991
Charity
		Other heritage
		asset class I	Total
		f	f
Cost
At I January	2022	3,308,168	3,308,168
Additions		1,210,872	1,210,872
Dtsposals		(7,049)	(7,049)
At 31 December 2022		4,511,991	4,511,991
Depreciation
At 31 December 2022
iVet book value
At 31 December 2022		4,511,991	4,511,991

Group
					2022	2021
					f	f.
Shares	in group undertakings	and participating	interests		506,756	506,756
Other investments					2,166,901	2,443,175
					2,673,657	2,949,931
Shares	in group undertakings	and participating		interests

Shares in group undertakings and participating int	erests
	Subsidiary
	undertakings f	Totalf
Cost
At I January 2022	506,756	506,756
At 31 December 2022	506,756	506,75G
iNet book value
At 31 December 2022	506,756	506,75G
At 31 December 2021	506,756	506,756

Other investments
	Listed
	investments	Total
Cost or Valuation
At I Jmtuary 2022	2,443,175	2,443,175
Revaluation	(170,313)	(170,313)
Additions	157,709	157,709
Dtsposals	(2,082)	(2,082)
At 31 December 2022	2,428,489	2,428,489
Provision for impairment
Elimmated on disposal	261,588	261,588
At 31 December 2022	261,588	2Cil,588
iVct book value
At 31 December 2022	2,166,901	2,166,901
At 31 December 2021	2,443,175	2,443,175

Charity
				2022	2021
Shares in group undertakings	and participating	interests		506,756	50G,756
Other investments				2,166,901	2,443,175
				2,673,657	2,949,931
Shares in group undertakings	and participating		interests
				Subsidlaty
				undertakings	Totalf
Cost
At I January 2022				506,756	506,756
At 31 December 2022				506,756	506,756
iVet book value
At 31 December 2022				506,756	50G,756
At 31 December 2021				506,75G	506,756
Other investments
				Listed
				invcstmcnts	Total
				g
Cost or Valuation
At I Januaty 2022				2,386,281	2,386,281
Revaluation				(166,621)	(IG6,621)
Additions				137,931	137,931
At 31 December 2022				2,357,591	2,357,591
Provision for impairment
Eliminated on disposal				261,588	261,588
At 31 December 2022				261,588	261,588
iVet book value
At 31 December 2022				2,096,003	2,096,003
At 31 December 2021				2,386,281	2,386,281

			Count» of		Proportion ofvoting	Proportion ofvoting	rights	Principal
Undm taking			I lie0I'p0 I'ation	Holdlllg	aml shares held			activity
					2022	2021
Subsidiary	uadcrtakings
Vale ofRheidol Limited		Raibvay	England &Wales	Ordmaiy	0	99%		Operation heritage	of
								railway
14 Stock
					Group			Charity
					2022	2021		2022
Stocks					5,660	4,426
15 Debtors
				Group			CIlilfIty
				2022	2021	2022		2021
				f				f.
Trade debtois				160,064	41,474
Due liom group		undertakings		5,387,948	257,936	5,059,948		4,800,682
Prepayments				450	450
VAT recoverable				42,255	119,001
Other &lebtors					I
				5,590,717	418,862	5,059,948		4,800,682
16 Cash and cAsh equivalents
				Group			Charity
				2022 f.	2021	2022f		2021 f
Cash on hmid				6,333	4,474
Casl) at baiik				841,554	754,787	302,451		154,271
				847,887	759,261	302,451		154,271

17 Credito	rs:	amounts	falling due	ivitbin one ye	ar
					Group			Charity
				2022f		2021	2022 f		2021f
Trade creditors					44,724	57,742
Hire purchase		and finance leases			(298)	677
Other iaxation		mid social	security		78,369	65,688
Accnials					11,583	11,586	2,100		2,100
					134,378	135,693	2,	100	2,100
18 Creditors:		amounts	falling due	after one year
							Group		Charity
							2022 f.		2022f
Other loans							5,052,899
19 Funds
Group
									Balance at
				Balance at I					31
				January	Incoming	Resources			December
				2022	resources f	expcndcd	Transfers f		2022
Unrestricted		funds
General
Unrestricted		funds		9,995,392	11,443,757	(1,496,995)	651,551		20,593,705
Restricted	funds
Restricted	funds			651,551			(651,551)
Expemlable
Endosvnlent		I'unds		633,650					633,650
				633,650					633,650
Total funds				11,280,593	11,443,757	(1,496,995)			21,227,355

						Balance at 31
			Balance at I	Incoming	Resources	December
			JanuatT 2021	resent'ccs	expended	2021
				f.	f
Unrestricted		funds
General
Unrestncted		funds	8,907,585	1,973,115	(885,308)	9,995,392
Restricted	funds
Restricted		I'unde	651,551			651,551
Expendable
Endowment		funcls	633,Ci50			633,650
			633,650			633,650
Total funds			10,192,786	1,973,115	(885,308)	11,280,593

Charity
						Balance at 31
		Balance	at I	incoming	Resources	Deccntber
		January	2022	resources	cspended	2022
						f.
Unrestricted	funds
General
Unrestricted	funds	7,855,990		307,478	(190,3IO)	7,973,158
						Balance at 31
		Balance	at I	Incoming	Resources	Decmnber
		January	2021	lesoul'ccs	expended	2021
		K			f.
Unrestricted	funds
General
Unrestricted	funds	7,577,7 18		99,269	179,003	7,855,990