Coinpany registration number= l )97407 Charity registration number: 514172 North Staffordshire Railway Company (1978) Limited (A company limited by Annual Report and Financial Statements property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage. IrrecoTrerable VAT Irrecoverable VAT is charged against the category of resources expended for which it was incurred. Fixed assets Individual fixed assets costing £0 or Inore are initially recorded at cost. Page 8 North Staffordshire Railway Company (1978) Limited Notes to the Financial Statements foi" the Year Ended 31 December 2024 contlF?ued Depreeiation Depreciation is provided on tanfjible fixed assets so as to write off Ihe cost or valuation, less any estimated residual value, over th.eir expected useful economic lile as follows: Land and Loco Shed 2 % Straight line basis Building Restoration 2 % straight line basis Rolling Stock 50/0 reducing balance basis Track Work 5 % straight line basis Equipment I 00/0 reducing balance Investments Fixed asset investments are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credÉted to the statement of the financial activities in the period of disposal. Unrealised gains and losses represent the movement in market vaIues durino the year and are credited or chartied to the statement of financial activities based on the market value at the year end. Stock Stock is valued at the lower of cost and net realisable value: after due I'eoard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selltng costs. Items donated for resale or distribution are not included in the fmancial statements until t.hey are sold or distributed. Voluntary income Unrestricted Total Funds Total Funds Funds 2024 2023 Donations and legaeies Legacies General don.ations Gift Aid tax reclaimed Grants - other agencies Subscriptions Other donations Jnterest received 248 54,011 3,401 330,803 6,606 30,000 8,770 2,494 41 378,714 3)0,803 6,606 30,000 8,770 2,494 41 i78,714 8.845 1,613 68,120 Page 9 North Staffordshire Railivay Company (1978) Limited Notes to the FinanLial Statements for the Year Ended 31 December 2024 contii?ued Grants receivable Unrestricted Total Funds Funds 2024 Total Funds 2023 Grants - other agencies 30,000 JO,000 Total resources expended Donations and legacies Total Direct eosts Fundraising costs Other fundraising costs Depreciation of tangible fixed assets Office expenses Subscriptions aiid donations J4,117 31,384 7,783 1,226 7,046 81,556 34,117 3l,384 7,783 1,226 7,046 81,556 Support costs Sundni and other costs 5,007 5,007 86,563 86,56) Net income Net income is stated after chargin