CHARITY REPORT FOR THE RED ROSE STEAM SOCIETY - 2020 2021
CHARITY REPORT - RED ROSE STEAM SOCIETY 2020-2021
We present the report for our financial year ended 30th June 2021.
This last has seen many challenges and there are clearly more to come with the outbreak of Covid. Our main focus has to be about the refurbishment of the headgear because that and the winding engine are our number one responsibility with them both being on the ‘at risk’ register. Having the last remaining headgear in a coalfield that once boasted 500 of them becomes a serious responsibility. The Headgear has been subject of a condition survey by one set of consultants and is now subject to a further in-depth report to discover if the headgear can be saved and at what cost. The considered view is that it can; but it will cost circa £800,000 to do so. Obviously, this will have to be the subject of a bid to Heritage Lottery and a separate sub-committee has been set up to achieve that objective.
One off the large capital grant dictates that there has to be a plan in place to raise the funds for ongoing revenue expenses and we have to put on a series of events that attract various parts of the population. This social impact will be assessed to see If the various genres of people will be likely to purchase lottery tickets on a regular basis so we have to put together a program of events that will regularly attract the various sections of the general public. We have been waiting to produce the events program which has been proved difficult whist negotiating a 25-year extension to our lease which is running out. Things are looking very positive but the effects of Covid are difficult to assess and we are thinking of innovative events such as a drive through carol service, a promenade play in a heritage setting. We have a very loyal membership who keep up their subscriptions as well as some very welcome donations. We hope that we will be included the rate relief driven compensation schemes from the Government.
Having been prudent with our money, we are able to take advantage of the market now and again almost as a cash purchaser and this was illustrated when we purchased a 500KVA generator to better drive our 3300 HP winding engine via the three compressors. The compressors have originated from various plants but to get the winding engine moving, it needs a great deal of compressed air and therefore a great deal of power to get it going. The 500 KVA generator has a very large diesel driven engine in it and it may cost £20 per hour in diesel alone to keep it moving. Our current generator is now very unreliable and we are spending more and more money in first aid type repairs. We have approached GMCVO for a blended loan of £25,000 - that is a fee free grant of £5k and a loan of £20k at a very low interest rate repayable over 10 year, there protecting our reserves. Our winding engine volunteers are very heavily involved in the project and it is proving a real challenge but the hope of having the engine working on demand is a very appealing idea.
At the same time that this major project is taking place, the railway squad are deeply committed to the completion of the track and the building of two platforms. The dream has been extant for 25 years so to see the railway actually in operation is a lip-smacking hope. The diesel engines, Newton and Sandy have been refurbished at a joint cost of approximately £35,000 and other volunteers are refurbishing the man riders for use by the general public. Our hope is that the public will visit and revisit and, in any case, stay longer when they do visit.
When parts of the Colliery are closed to us it does allow to luxury to think about the layout of the site when it fully reopens. We are still able to complete outside repair and we anticipate having a successful plant sale.
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Red Rose Steam Society Limited Registered Company No. 1682997 Registered Charity No. 51351 1 Financial Statements - Year Ended 30 June 2021
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Profit & Loss Account 30Jun - 2021 30Jun - 2020
Income
Donations and legacies £24,037.43 £19,492.51
Subscriptions £1 ,965.00 £1 ,825.00
Trading activities £22,714.54 £10,641.13
Railway Income £2,551.46 £0.00
Events held £30,767.15 £1 2,709.58
Site Visits & Rental £340.00 £2,113.50
Grants £37,025.25 £25,547.39
Scrap Sales £2,214,32 £30.65
Miscellaneous £1 ,460.65 £1 ,261.46
Total £1 23,075.80 £73,621.22
Expenditure
Events £1 9,449.42 £4,239,78
Winding Engine Costs £5,733.26 £7,905.45
Headgear Costs £0.00 £0.00
Railway £4,395_06 £37,784.16
Site Utilities £4,680.47 £4,325.97
Site Costs/Refurbishment £1 9,986.35 £3,341 .39
Insurance £2,041 .82 £3, 108.73
Office Equipment £1 ,726,96 £2,686.79
Administration costs £5,224,01 £3,349.84
Other trading activities £6,782,27 £3,965.80
Total £70,019.62 £70,707.91
Operating Surplus £53,056. 18 £2,913.31
Loan charges / Bank Interest £1 ,779,19 -£1 1 .45
Depreciation £4,210.00 £0.00
Surplus before Taxation £47,066.99 £2,901.86
Taxation £0.00 £0.00
Surplus after Taxation £47 , 066 . 99 £2 , 901 . 86
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Registered Company No. 1682997 Registered Charity No. 513511 Financial Statements - Year Ended 30 June 2021
| Registered Company No. 1682997 RegisteredCharity No. 513511 Financial Statements - YearEnded30 June2021 |
Registered Company No. 1682997 RegisteredCharity No. 513511 Financial Statements - YearEnded30 June2021 |
Registered Company No. 1682997 RegisteredCharity No. 513511 Financial Statements - YearEnded30 June2021 |
|---|---|---|
| BalanceSheet 30-Jun-2021 |
30-Jun-2020 | |
| Fixedassets | ||
| Tangibleassets £21,050,00 |
£4,259.00 | |
| Depreciation -£4,210.00 |
£0.00 | |
| Investments | ||
| Totalfixedassets £16,840.00 |
£4,259.00 | |
| Currentassets | ||
| Stocks £3,223.50 |
£3,990.50 | |
| NatWesk £71,431.91 |
£45,131.61 | |
| Reservefunds £20,295.84 |
£20,045.89 | |
| Paypal £1,399.88 |
£1,803.48 | |
| Vouchers £0.00 |
£150.00 | |
| Cash £7,757.26 |
£1,460.92 | |
| Total currentassets £104,108,39 |
£72,582.40 | |
| LoanGMCVQ £17,040.00 |
£20,000.00 | |
| LoanSE £1O,000.00 |
£1O,000.00 | |
| Totalcurrentliabilities £27,040.00 |
£30,000.00 | |
| Total assets lesscurrent liabilities £93,908.39 |
£46,841.40 | |
| Funds of theCharity | ||
| Restricted incomefunds | ||
| Unrestrictedfunds £46,841.40 |
£43,939,54 | |
| Current YearSurplusFunds £47,066.99 |
£2,901.86 | |
| Totalfunds £93,908.39 |
£46,841.40 | |