Darlington Railway Preservation Society
Accounts for the year to 31 December 2021
Trustees’ annual report
Charity Number: 512842
Principal address:
Old S&D Goods Shed Darlington Railway Museum Station Road DARLINGTON County Durham DL3 6ST
Trustees:
Brian Kelsely Malcom Simpson John Barrie Lamb Paul Bailey
Independent Examiner:
P G Pearson Taxation Advisory Services 15 Victoria Road Darlington DL1 5SF
Darlington Railway Preservation Society Trustees’ annual report (continued)
Structure, Governance and Management
The Society is a registered charity established as per the declaration of trust 27[th] April 1982 Management of the trusts work is carried out by the societies committee, elected at the AGM each year, as per the society’s constitution. Overseen by the Trustees.
Objects & activities of the charity
TO PRESERVE FOR THE PUBLIC BENEFIT OF STEAM AND OTHER RAILWAY LOCOMOTIVES AND ROLLING STOCK MACHINERY AND EQUIPMENT FOR EDUCATIONAL AND HISTORICAL INTEREST.
To acquire, purchase, restore, and preserve artifacts of Darlington’s Famous railway heritage, for the benefit of future generations.
The society has restored seven locomotives that were built or operated in Darlington and other railway artifacts which are on public display in the societies building.
The society has regular public open days when visitors can view the collection,
On open days the society operate and give rides on their narrow-gauge railway, a miniature railway and a Wickham trolly.
Evening visits are arranged by request, popular with local scout groups.
The societies members range from teenage to retired.
In 2021 the normal activities to the society were heavily disrupted at the start of the year due to COVID however the members worked hard to manage and recover throughout the year. This meant we experienced fewer visitors and public engagements than we normally would.
The society committee has focused much effort into recovery and planning for establishing the DRPS as key component of preserving Darlington’s Historic Railway heritage into the future. Restoration work is carried out on site by members.
As always, the society recognises the importance of its members who are all volunteers and is hugely grateful to their contribution.
One major achievement has been the restoration from nearly scrap condition to full running order of steam engine built in Darlington during 1953, named Borough of Darlington. This engine is now hired to other heritage railways across the country, demonstrating Darlington’s famous engine building skills.
Financial review
Engines require a full overhaul every ten years; for which reserves are required for when this work is needed.
We have established funds for both 78018 BR Standard 2MT & Northern Gas Board No.1 Peckett locomotives to ensure funds will be available for their future preservation. During the year the charity received income of £31,782.98 and made payments of £10,196.68. There was therefore an excess of receipts over payments for the year of £21,586.30 When added to funds brought forward of £55,013.88 gives total funds of £76,600.18,
Declarations
Signed on behalf of the trustees
………………………………….
John Barrie Lamb
Chair 11/4/22
| Charity No 512842 Period start date 01/01/2021 To Period end date 31/12/2021 Darlington Railway Preservation Society Annual accounts for the period |
Charity No 512842 Period start date 01/01/2021 To Period end date 31/12/2021 Darlington Railway Preservation Society Annual accounts for the period |
|
|---|---|---|
| Section A | Statement of financial activities | |
| Recommended categories by activity Incoming resources (Note 3) Income and endowments from: Donations and legacies Charitable activities Other trading activities Investments Separate material item of income Other Resources expended (Note 5) Expenditure on: Raising funds Charitable activities Separate material item of expense Other Net gains/(losses) on investments Extraordinary items Other gains/(losses) Reconciliation of funds: Total Net movement in funds Total funds brought forward Total funds carried forward Total Net income/(expenditure) before investment gains/(losses) Net income/(expenditure) Transfers between funds Other recognised gains/(losses): Gains and losses on revaluation of fixed assets for the charity’s own use |
Unrestricted funds Restricted income funds Endowment funds Total funds Prior year funds £ £ £ £ £ F01 F02 F03 F04 F05 18,323.81 - - 18,323.81 1,740.44 104.17 - - 104.17 95.83 80.00 - - 80.00 - - - - - 133.42 13,275.00 - - 13,275.00 3,150.00 - - - - - |
|
| 31,782.98 - - 31,782.98 5,119.69 |
||
| - - - - 40.00 5,451.55 - - 5,451.55 4,461.76 4,600.00 - - 4,600.00 - 145.13 - - 145.13 389.99 |
||
| 10,196.68 - - 10,196.68 4,891.75 |
||
| 21,586.30 - - 21,586.30 227.94 |
||
| - - - - - |
||
| 21,586.30 - - 21,586.30 227.94 |
||
| - - - - - - - - - - - - - - - - - - - - |
||
| 21,586.30 - - 21,586.30 227.94 |
||
| 55,013.88 - - 55,013.88 54,785.94 |
||
| 76,600.18 - - 76,600.18 55,013.88 |
DRPS Accounts 2021
Page 1
Section B Balance sheet
| Fixed assets Intangible assets Tangible assets (Note 7) Heritage assets (Note 8) Investments Total fixed assets Current assets Debtors (Note 10) Investments Cash at bank and in hand (Note 12) Stock (note 9) Total current assets Creditors: amounts falling due within one year (Note 11) Net current assets/(liabilities) Total assets less current liabilities Creditors: amounts falling due after one year (Note 11) Provisions for liabilities Total net assets or liabilities Funds of the Charity Endowment funds (Note 15) Restricted income funds (Note 15) Unrestricted funds Revaluation reserve Total funds Signed by one or two trustees on behalf of all the trustees |
Unrestricted funds £ F01 - 268.87 11,215.00 - |
Restricted income funds £ F02 - - - - |
Endowment funds Total this year £ £ F03 F04 - - - 268.87 - 11,215.00 - - |
Total last year £ F05 |
|---|---|---|---|---|
| - 298.75 11,215.00 - |
||||
| 11,483.87 | - | - 11,483.87 |
11,513.75 | |
| - - 66,797.47 - |
- - - - |
- - - - - 66,797.47 - - |
||
| - - 43,702.91 - |
||||
| 66,797.47 | - | - 66,797.47 |
43,702.91 | |
| 202.78 | ||||
1,681.16 |
- | - 1,681.16 | ||
| 65,116.31 | - | - 65,116.31 |
43,500.13 | |
| 76,600.18 | - | - 76,600.18 |
55,013.88 | |
| - - |
||||
| - - |
- - |
- - - - |
||
| 76,600.18 | - | - 76,600.18 |
55,013.88 | |
| 76,600.18 | - | - - - 76,600.18 - |
||
| - - 55,013.88 |
||||
| 76,600.18 | - | - 76,600.18 |
55,013.88 | |
Signature |
Print Name | Date of approval dd/mm/yyyy |
DRPS Accounts 2021
Page 2
Section 8 Balance sheet UThr••lrl¢ Ineom• Endowm•rt T*1 th1• Titsl l••t fund8 fund8 fvnd• y•w Flxed assets tsnglbl• T•nglbl• •s••ts F01 F02 F03 F04 FOS (Not• 7) (Not• 8) 268.87 11,215.00 268.87 11,215.00 298.75 11,215.(KJ Curr•nt assets 11513.75 (Not• 10) Cmh at bank and In hand (Nots 12) (not• 9) Total cun•nt au•ts 66,797.47 66,797.47 43,702.91 43,702.91 Cr•dttors: amounts falllng du• wlthln (Nckn 11) 1.681.16 1.681.16 202.78 P4•¢ cunwt as$•{111tkn•j S.13 Total assets kns cirnt IlablllU•s 55,013.88 Cr•dltOrn: w1nts falllng du• aft•r (Not• 11) Provl•lon• for Habllltl Toeal n•t assets or M•bllld•s Funds of the Charlty EndOTr fund• (Not• 15) R••trlthd Incom• fvnd• (Nots 15) 76,600.18 76fity118 013.88 76,600.18 76.6fy).18 $5.013.88 Total fvnd8 Sn•O Pthl Nam• Ja~5 14 11 +/21 P•9• 2
Section C Notes to the accounts
Note 1 Basis of preparation
1.1 Basis of accounting
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The accounts have been prepared in accordance with:
• The Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014
-
and with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102)
-
and with the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
1.2 Going concern
There are no material uncertainties about the charity's ability to continue.
1.3 Accounting policy
The accounts present a true and fair view and the accounting policies adopted are those outlined in note 2 .
1.4 Changes to accounting estimates
No changes to accounting estimates have occurred in the reporting period (3.46 FRS 102 SORP).
1.5 Material prior year errors
No material prior year error have been identified in the reporting period (3.47 FRS 102 SORP).
DRPS Accounts 2021
Page 3
Section C Notes to the accounts (cont)
Note 2 Accounting policies
2.1 INCOME
| 2.1 INCOME Note 2 Accounting |
policies |
|---|---|
| Recognition of income | These are included in the Statement of Financial Activities (SoFA) when: |
| • the charity becomes entitled to the resources; | |
| • it is more likely than not that the trustees will receive the resources; and | |
| • the monetary value can be measured with sufficient reliability. | |
| Offsetting | There has been no offsetting of assets and liabilities, or income and expenses, unless |
| required or permitted by the FRS 102 SORP or FRS 102. | |
| Grants and donations | Grants and donations are only included in the SoFA when the general income recognition |
| criteria are met (5.10 to 5.12 FRS102 SORP). | |
| Tax reclaims on | Gift Aid receivable is included in income when there is a valid declaration from the donor. Any |
| donations and gifts | Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as |
| an addition to the same fund as the initial donation unless the donor or the terms of the | |
| appeal have specified otherwise. | |
| Contractual income and | This is only included in the SoFA once the charity has provided the related goods or services |
| performance related | or met the performance related conditions. |
| grants | |
| Donated goods | Donated goods are measured at fair value (the amount for which the asset could be |
| exchanged) unless impractical to do so. | |
| The cost of any stock of goods donated for distribution to beneficiaries is deemed to be the | |
| fair value of those gifts at the time of their receipt and they are recognised on receipt. In the | |
| reporting period in which the stocks are distributed, they are recognised as an expense at the | |
| carrying amount of the stocks at distribution. | |
| Donated goods for resale are measured at fair value on initial recognition, which is the | |
| expected proceeds from sale less the expected costs of sale, and recognised in 'Income from | |
| other trading activities' with the corresponding stock recognised in the balance sheet. On its | |
| sale the value of stock is charged against 'Income from other trading activities' and the | |
| proceeds from sale are also recognised as 'Income from other trading activities'. | |
| Goods donated for on-going use by the charity are recognised as tangible fixed assets and | |
| included in the SoFA as incoming resources when receivable. | |
| Gifts in kind for use by the charity are included in the SoFA as income from donations when | |
| receivable. | |
| Donated goods, services | The value of donated goods, services and facilities are not included in income or expenditure. |
| and facilities | Such items are currently incidental to the operation of the Trust and the Trustees do not |
| believe that the work needed to record them will be justified by the benefit provided to a user | |
| of the accounts. | |
| Support costs | The charity has incurred expenditure on support costs. |
| Volunteer help | The value of any voluntary help received is not included in the accounts but is described in |
| the trustees’ annual report. | |
| Income from interest, | This is included in the accounts when receipt is probable and the amount receivable can be |
| royalties and dividends | measured reliably. |
| Income from membership | Membership subscriptions which gives a member the right to buy services or other benefits |
| subscriptions | are recognised as income earned from the provision of goods and services as income from |
| charitable activities. | |
| Settlement of insurance | Insurance claims are only included in the SoFA when the general income recognition criteria |
| claims | are met (5.10 to 5.12 FRS102 SORP) and are included as an item of other income in the |
| SoFA. |
DRPS Accounts 2021
Page 4
Section C Notes to the accounts (cont)
Note 2 Accounting policies (cont)
2.2 EXPENDITURE AND LIABILITIES
| 2.2 EXPENDITURE Note 2 Accounting |
AND LIABILITIES policies (cont) |
|---|---|
| Liability recognition | Liabilities are recognised where it is more likely than not that there is a legal or constructive |
| obligation committing the charity to pay out resources and the amount of the obligation can be | |
| measured with reasonable certainty. | |
| Governance and support | Support costs have been allocated between governance costs and other support. |
| costs | Governance costs comprise all costs involving public accountability of the charity and its |
| compliance with regulation and good practice. | |
| Redundancy cost | The charity made no redundancy payments during the reporting period. |
| Deferred income | No material item of deferred income has been included in the accounts. |
| Creditors | The charity has creditors which are measured at settlement amounts less any trade discounts |
| Provisions for liabilities | A liability is measured on recognition at its historical cost and then subsequently measured at |
| the best estimate of the amount required to settle the obligation at the reporting date | |
| Basic financial | The charity accounts for basic financial instruments on initial recognition as per paragraph |
| instruments | 11.7 FRS102 SORP. Subsequent measurement is as per paragraphs 11.17 to 11.19, |
| FRS102 SORP. | |
| 2.3 ASSETS | |
| Tangible fixed assets for | These are capitalised if they can be used for more than one year, and cost at least £100 |
| use by charity | They are valued at cost. |
| The depreciation rates and methods used are disclosed later in the notes. | |
| Heritage assets | The charity has heritage assets, that is, non-monetary assets with historic, artistic, scientific, |
| technological, geophysical or environmental qualities that are held and maintained principally | |
| for their contribution to knowledge and culture. | |
| The Trust's collection of locomotives, carriages, railway artefacts and archive material has not | |
| been capitalized on the balance sheet. Donations to it are not valued and where material is | |
| purchased, it is written off in the year of purchase. The collection has been put together over | |
| many years and is considered to be irreplaceable and inalienable. The cost of obtaining a | |
| valuation, the reliability of which would be questionable, is likely to be out of proportion to the | |
| benefit provided to a user of the accounts. | |
| Stocks and work in | Goods or services provided as part of a charitable activity are measured at net realisable |
| progress | value based on the service potential provided by items of stock. |
| Debtors | Debtors (including trade debtors and loans receivable) are measured on initial recognition at |
| settlement amount after any trade discounts or amount advanced by the charity. | |
| Subsequently, they are measured at the cash or other consideration expected to be received. |
DRPS Accounts 2021
Page 5
Section C Notes to the accounts (cont)
Note 3 Analysis of income
----- Start of picture text -----
Restricted
Unrestricted income Endowment
funds funds funds Total funds Prior year
Analysis £ £
Donations Donations and gifts 654.60 - - 654.60 406.44
and legacies: Gift Aid - - - - -
Legacies - - - - -
General grants provided by government/other
charities 17,669.21 - - 17,669.21 1,334.00
Membership subscriptions and sponsorships
which are in substance donations
- - - -
Donated goods, facilities and services - - - - -
Other - - - -
Total 18,323.81 - - 18,323.81 1,740.44
Charitable Membership subscriptions 104.17 - - 104.17 95.83
activities: - - - - -
- - - - -
Other - - - - -
Total 104.17 - - 104.17 95.83
Other trading Fundraising Income - - - - -
activities: Sales 80.00 - - 80.00 -
- - - - -
Other - - - - -
Total 80.00 - - 80.00 -
Income from Interest income - - - 133.42
investments: Dividend income - - - - -
Rental and leasing income - - - - -
Other - - - - -
Total - - - - 133.42
Separate 78018 Locomotive Hire 13,275.00 - - 13,275.00 3,150.00
material item - - - - -
of income: - - - - -
- - - - -
Total 13,275.00 - - 13,275.00 3,150.00
Other: Conversion of endowment funds into income
- - - - -
Gain on disposal of a tangible fixed asset held
for charity's own use - - - - -
Gain on disposal of a programme related
investment - - - - -
Royalties from the exploitation of intellectual
property rights - - - - -
Other - - - - -
Total - - - - -
TOTAL INCOME 31,782.98 - - 31,782.98 5,119.69
----- End of picture text -----
DRPS Accounts 2021
Page 6
Section C Notes to the accounts (cont)
Note 4 Donated goods, facilities and services
Seconded staff Use of property Other
----- Start of picture text -----
This year Last year
£ £
- -
- -
- -
- -
----- End of picture text -----
Details of the accounting policy for the recognition and valuation of donated goods, facilities and services.
The value of donated goods, services and facilities are not included in income or expenditure. Such items are currently incidental to the operation of the Trust and the Trustees do not believe that the work needed to record them will be justified by the benefit provided to a user of the accounts.
Details of other forms of other donated goods and services not recognised in the accounts, eg contribution of unpaid volunteers.
The DRPS is hugely gratefully to the valuable contribution of its Members and Volunteers. The value of such is difficult to estimate. It is recognused that many of our members put in substantial hours on and off site.
DRPS Accounts 2021
Page 7
Section C Notes to the accounts (cont)
Note 5 Analysis of expenditure
----- Start of picture text -----
Restricted
Unrestricted income Endowment
funds funds funds Total funds Prior year
Analysis £ £
Expenditure on Incurred seeking donations - - - - 40.00
raising funds: Incurred seeking legacies - - - - -
Incurred seeking grants - - - - -
Operating membership schemes and
social lotteries - - - - -
Staging fundraising events - - - - -
Fudraising agents - - - - -
Operating charity shops - - - - -
Operating a trading company
undertaking non-charitable trading
activity - - - - -
Advertising, marketing, direct mail and
publicity - - - - -
Start up costs incurred in generating
new source of future income - - - - -
Database development costs - - - - -
Other trading activities -
Investment management costs: - - - -
Portfolio management costs - - - - -
Cost of obtaining investment advice - - - - -
Investment administration costs - - - - -
Intellectual property licencing costs - - - - -
Rent collection, property repairs and
maintenance charges - - - - -
- - - - -
Total expenditure on raising funds - - - - 40.00
Expenditure on Rates & Other Tax 1,047.32 - - 1,047.32 951.32
charitable Rent 330.00 - - 330.00 330.00
activities Subscriptions 190.00 - - 190.00 121.00
Locomotive Restoration 1,128.77 - - 1,128.77 2,574.47
Scammell & other Restoration 700.00 - - 700.00 -
Maintenance & Repairs 69.89 - - 69.89 -
Water & Electricity 594.14 - - 594.14 484.97
Insurance 1,391.43 - - 1,391.43 -
Total expenditure on charitable
activities 5,451.55 - - 5,451.55 4,461.76
Separate material Transport & Haulage 4,600.00 - - 4,600.00 -
item of expense - - - - -
- - - - -
- - - - -
Total 4,600.00 - - 4,600.00 -
Other Post & Stationery 9.02 - - 9.02 108.42
Sundries 46.69 - - 46.69 248.38
Health & Safty inc. PPE 59.54 - - 59.54 -
Residual VAT - - - -
Depreciation 29.88 - - 29.88 33.19
Total other expenditure 145.13 - - 145.13 389.99
TOTAL EXPENDITURE 10,196.68 - - 10,196.68 4,891.75
----- End of picture text -----
DRPS Accounts 2021
Page 8
Section C Notes to the accounts (cont)
Note 6 Details of certain items of expenditure
Fees for examination of the accounts
Details of the amount paid for any statutory external scrutiny of accounts and other services provided by your independent examiner. If nothing was paid please enter '0' in the appropriate box(es).
| Other fees (for example: financial advice, consultancy, accountancy services) paid to the independent examiner Independent examiner’s fees Assurance services other than audit or independent examination Tax advisory fees |
This year Last year £ £ 0 200 0 0 0 0 0 0 |
|---|---|
DRPS Accounts 2021
Page 9
Section C Notes to the accounts (cont)
Note 7 Tangible fixed assets
7.1 Cost or valuation
| At the beginning of the year Additions Revaluations Disposals Transfers At end of the year Basis Straight Line or Reducing Balance Rate At beginning of the year Disposals Depreciation Impairment Transfers At end of the year Net book value at the beginning of the year Net book value at the end of the year 7.3 Net book value 7.2 Depreciation and |
Freehold land & buildings Other land & Buildings Plant, machinery and motor vehicles Track/Rail Total £ £ £ £ £ - - 5,030.03 4,469.48 9,499.51 - - - - - - - - - - - - - - - - - - - - |
|---|---|
| - - 5,030.03 4,469.48 9,499.51 | |
Reducing Balance Fully Depreciated pre 2009 10% - - - 4,731.28 4,469.48 9,200.76 - - - - - - - 29.88 - 29.88 - - - - - - - - - - impairments |
|
| - - 4,761.16 4,469.48 9,230.64 | |
| - - 298.75 - 298.75 - - 268.87 - 268.87 |
- The "transfers" row is for movements between fixed asset categories.
DRPS Accounts 2021
Page 10
Section C Notes to the accounts (cont)
Note 8 Heritage assets
8.1 General disclosures for all charities holding heritage assets
(i) Explanation of the nature and scale of heritage assets held.
(ii) Explanation of the policy for the acquisition, preservation, management and disposal of heritage assets.
The DRPS owns a substantial collection of heritage railway artifacts relating to the Local Darlington area, north eastern region and general historic railway significance. The collection includes industrial and unique items. The collection has been built and added to through donations and limited purchases of significance since 1981.
The DRPS considers the significance and cultural value of preserving items before committing to any acquisition. Items in the collection are to be preserved for the community with restoration prioritised to those artifacts where it benefits the goals of the society the most. Any disposal is made with great consideration to the significance of the item and the suitability of the purchaser.
8.2 Cost or valuation
| At beginning of the year Additions Disposals Revaluations Transfers * At end of the year |
Locos, rolling stock Heritage asset 2 Heritage asset 3 Heritage asset 4 Total £ £ £ £ £ 11,215.00 - - - 11,215.00 - - - - - - - - - - - - - - - - - - - - |
|---|---|
| 11,215.00 - - - 11,215.00 |
8.3 Depreciation and impairments
| Basis Straight Line or Reducing Balance Rate At beginning of the year Disposals Depreciation Impairment Transfers* At end of year |
None - - - - - - - - - - - - - - - - - - - - - - - - - - |
|---|---|
| - - - - - |
DRPS Accounts 2021
Page 11
Section C Notes to the accounts (cont)
| Note 8 Heritage assets (cont) | Note 8 Heritage assets (cont) |
|---|---|
| Locos, rolling stock Heritage asset 2 Heritage asset 3 Heritage asset 4 Total £ £ £ £ £ |
|
| 8.4 Net book value | |
| Nat book value at the beginning of the | 11,215.00 - - - 11,215.00 |
| year | |
| Net book value at the end of the year | 11,215.00 - - - 11,215.00 |
| 8.5 Analysis of heritage assets by class or group distinguishing those at cost and those at valuation | |
| At valuation At cost Group Total |
|
| Group A B |
|
| £ £ £ |
|
| Carrying amount at the beginning of the | - 11,215 11,215 |
| period | |
| Additions | - - - |
| Disposals | - - - |
| Depreciation/impairment | - - - |
| Revaluation | - - - |
| Carrying amount at the end of period | - 11,215 11,215 |
| 8.6 Heritage assets (where heritage assets are not recognised on the balance sheet) | |
| (i) Explain the reason why heritage assets have not been recognised on the balance sheet. |
The heratige assets owned by the DRPS have been collected over many years, many by donation, where the societys resources cound not justify the expence of valuation of donations at that time. |
| (ii) Describe the significance and nature of heritage assets. |
The DRPS owns a substantial collection of heritage railway artifacts relating to the Local Darlington area, north eastern region and general historic railway significance. The collection includes industrial and unique items. |
| (iii) Explain the reason why it is not practicable to obtain a valuation of heritage assets. |
The society does not currently have the man power or resources to catalogue and revalue the large collection whilst continuing with the society's objectives. Concideration will be made to catalogue and recorde future acquisitions however. |
DRPS Accounts 2021
Page 12
Section C Notes to the accounts (cont)
Note 9 Stocks
9.1 Carrying amount of stock and work in progress analysed between activities.
| For distribution For resale For distribution For resale £ £ £ £ £ Charitable activities: Opening - - - - - Added in period - - - - - Expensed in period - - - - - Impaired - - - - - Closing - - - - - Other trading activities: Opening - - - - - Added in period - - - - - Expensed in period - - - - - Impaired - - - - - Closing - - - - - Other: Opening - - - - - Added in period - - - - - Expensed in period - - - - - Impaired - - - - - Closing - - - - - Total this year - - - - - Total previous year - - - - - 9.2 Carrying amount of any stocks pledged as security for liabilities - Stock Donated goods Work in progress |
For distribution For resale For distribution For resale £ £ £ £ £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Stock Donated goods Work in progress |
For distribution For resale For distribution For resale £ £ £ £ £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Stock Donated goods Work in progress |
|---|---|---|
| - | - - - - | |
| - - - - - |
DRPS Accounts 2021
Page 13
Section C Notes to the accounts (cont)
Note 10 Debtors and prepayments
| Note 10 Debtors and prepayments | |
|---|---|
| 10.1 Analysis of debtors Trade debtors Payments in Advance Other debtors VAT Debtor Total |
This year Last year £ £ - - - - - - - - |
| - - |
10.2 Analysis of debtors recoverable in more than 1 year (included in debtors above)
| Prepayments and accrued income Other debtors Total Trade debtors |
This year Last year £ £ - - - - - - |
|---|---|
| - - |
Note 11 Creditors and accruals
| Analysis of creditors Accruals for grants payable Bank loans and overdrafts Trade creditors Payments received on account for contracts or performance-related grants Accruals and deferred income VAT Creditor Other creditors Total |
This year Last year This year Last year £ £ £ £ - - - - - - - - 95.00 - - - - - - - - - - - 1,586.16 202.78 - - - - - - Amounts falling due within one year Amounts falling due after more than one year |
|---|---|
| 1,681.16 202.78 - - |
DRPS Accounts 2021
Page 14
Section C Notes to the accounts (cont)
Note 12 Cash at bank and in hand
Cash in Hand Till Bank Deposit Account Bank Current account Bank Premium Account PayPal Account Total
| This year | Last year | |
|---|---|---|
| £ | £ | |
| 112.47 | 72.47 | |
| 4.30 | - | |
| 12,660.46 | 12,660.46 | |
| 53,228.93 | 30,756.86 | |
| 3.13 | 3.13 | |
| 788.18 | 209.99 | |
| 66,797.47 | 43,702.91 |
Note 13 Fair value of assets and liabilities
Details of the charity's exposure to credit risk (the risk of incurring a loss due to a debtor not paying what is owed) , liquidity risk (the risk of not being able to meet short term financial demands) and market risk (the risk that the value of an investment will fall due to changes in the market) arising from financial instruments to which the charity is exposed at the end of the reporting period and explain how the charity manages those risks.
The DRPS has suitable funds to sustain normal day to day activity in the short term however these funds do not cover costs associated with upcoming overhaul of locomotive 78018. If the required funds are not found by the time locomotive 78018 is due its overhaul the DRPS risks loosing a significant portion of its income and may rely on funds needed for the overhaul to pay basic running costs. To 21/12/2021 the society has managed to reserve £55,349.11 for locomotive 78018 witch depending on estimates at the time of the future overhaul may be 25%-50% of the funds required. The society must raise a minimum of 50% in order to negotiate a deal similar to that under which locomotive 78018 was previously completed and operates currently. The DRPS has no risky investments and has minimal credit risk.
Note 14 Events after the end of the reporting period
This note details events (not requiring adjustment to the accounts) have occurred after the end of the reporting period but before the accounts are authorised which relate to conditions that arose after the end of the reporting period.
Details of the nature of the event
- National recovery from COVID19 Pandemic & national lockdown halting or significantly restricting activity. 2. Upcoming relocation of the DRPS and involvement with Stockton Railway Heritage Quarter
Estimate of the financial effect of the event or a statement that such an estimate cannot be made.
- The DRPS is seeing some recovery as heritage railways and the leisure industry recover and 78018 is in steam. Open Days and fundraising has yet to fully resume however most activities have. The society's reliance on grants in lieu of usual income to cover everyday costs may continue in short term. 2. The relocation of the DRPS is unavoidable and the society may have to consider its position carefully with regard to future direction, what assets can be housed and if any may need to be let go as well as the activities and goals the DRPS can undertake. The full financial burden of the move cannot yet be fully assessed, however the society is determined to achieve a positive sustainable future within Stockton Railway Heritage Quarter alongside its partners.
DRPS Accounts 2021
Page 15
Section C Notes to the accounts (cont)
Note 15 Charity funds
15.1 Details of material funds held and movements during the CURRENT reporting period
* Key: PE - permanent endowment funds; EE - expendible endowment funds; R - restricted income funds, including special trusts, of the charity; and U - unrestricted funds
| 78018 BR Standard 2MT Locomotive (78018) Fund U For the restoration, preservation and maintanance of B.R. Standard 2-6-0 class 2MT locomotive 78018 Northern Gas Board No.1 (NGB1) Peckett Locomotive Fund U For the restoration, preservation and maintanance of Peckett locomotive Northern Gas Board No.1 Other funds N/a N/a Total Funds Fund names Type PE, EE R or U Purpose and Restrictions* |
Fund balances brought forward Income Expenditure Transfers Gains and losses Fund balances carried forward £ £ £ £ £ £ - - - 55,349.11 - 55,349.11 - - - - - - - - - - - - - - - - - - 55,013.88 31,782.98 - 10,196.68 - 55,349.11 - 21,251.07 |
|---|---|
| 55,013.88 31,782.98 - 10,196.68 - - 76,600.18 |
15.2 Details of material funds held and movements during the PREVIOUS reporting period
* Key: PE - permanent endowment funds; EE - expendible endowment funds; R - restricted income funds, including special trusts, of the charity; and U - unrestricted funds
----- Start of picture text -----
Fund Fund
balances balances
Type PE, EE
Purpose and Restrictions brought Gains and carried
R or U
forward Income Expenditure Transfers losses forward
Fund names £ £ £ £ £ £
Loans reserve U Historical no longer needed 7,410.00 - - - 7,410.00 - -
- - - - - -
- - - - - -
- - - - - -
Other funds N/a N/a 47,375.94 5,119.69 - 4,891.75 7,410.00 - 55,013.88
Total Funds 54,785.94 5,119.69 - 4,891.75 - - 55,013.88
----- End of picture text -----*
DRPS Accounts 2021
Page 16
CHARITY COMMISSION FOR ENGLAND ANO WALES Independent examlnerfs report on the accounts Section A Independent Examiner's Report R•port to th• trust•••l m•mb•T• of Darflngton Raihvay Pre8ervationSoclety On accounts for th• y••r •nd•d 31st December 2021 Charlty no (If •ny) 512842 S•t out on pag•* 1to16 I report to the trustees on my examination of the accounts ol the above charty (Ihe Trust.) for the year erKled R•sponslbllltlu and b•818 of rnport As the charitys trustees. you are responsible for the preparation of the accounts in accordance with the requirements of the Charrtie8 Act 2011 (Ihe Acr). I report in resped of my examination of the Trust's accounts carried out under section 145 ofthe 2011 Act and in carying OLrt my examination, I have foll0vd all the applicable Directions given by the Charity Commission under section 145151(b) of the Act. Independent I have compleled my examination. l Gonfim that no matertal mattets have 0xamin•$ Statomont come to my attention in connedion the examination vthich gives me cause to believe that in. any material respect.. I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in this report in r to enable a r understanding of the accounts to be reached. Slgn•d: D•ts: 1811012022 N•me: P G Pearson Taxation Advisory Servlces Addr•M: 15 Victoria Road Darlington DL15SF IER Oct 2018