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##
|Reference
and Administrative|Reference
and Administrative|Details|||
|---|---|---|---|---|
|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|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|||||||
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|||||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|
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|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||
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|||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|