THE KtDDERMINSTER RAILWAY MUSEUM TRUST LIMITED A COMPANY LIMITED BY GUARANTEE REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2023 REGISTERED CHARITY IYUMBER- 518479 COMPANY NUMBER - 2033064 EIYGLAND & WALES Silver & Co Accountants Taxation & Bu5ine5s Adviso
THE KIDDERmISTER RAILWAY MUSEUM TRLTST LIMITED A COMPANY LIMITED BY GL'AIL4NTEE CONTENTS Pa Legal & administrative infornydtion Trnstees, Annual Report Independent Examiners Report Consolidated statsment of financial activities Consolidated and charity balance sheets Notes forniing part of the financial statements 10-17 For the information of the Directors and Trustees only: Detsiled trading and profit and loss accounts 18- 19
THE KIDDERMINSTER RAILWAY MUSEUM TRUST LIMITED A COMPANY LINUTED BY GUAIL4NfEE LEGAL AND ADMINISTRATIVE INFORMATION DJRECTORS & TRUSTEES S.A. Tull A.J. Lambert S. Willian]s (Chairman) P. Redfern D. Grainger D. Evans R Saull M. E. J. Yarker CHtEF EXECUTIVE li S. Williams (Chairn]ao) SECRETARY I Baxter REGISTERED OFFICE Station Approach., Comberton Hill, Kidderminster. Worcestershire. DYIO IQX INDEPENDENT EXAMINERS Silver & Co.. The Hollies, 16, St. Johns Stre¢L Bridgnorth. Shropshire. WV15 6AG. BANKERS BalayS Bank Plc.. Leicester. LE87 2BB Lloyds TSB Bank Plc., Vicar St, Kiddernjinster. w0¢StershIre.
THE KIDDERMISTER RAtLWAY MUSEUM TRUST LIMITED A COMPANY LTED BY GUARthTEE TRUSTEES, APIYUAL REPORT FOR THE YEAR ENDED 31st DECEMBER 2023 The trustees, who are also Directors of the charity for the purposes of the Companies Act. submit their amiual report and the unaudited financial statements for the Year Ended 3 1st December 2023. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" issued in 2005 in preparing the annual report and financial statements of the harity. Directors and Trustees The Directors and Trnstees who served during ihe year were as follows: S.A. Thll A.J. Lambert S. Williams (Chairn]an) P. Redfern D. Grainger D. Evans R Saull M. J. E, Yarker Structure Governance and Management Th¢ Cornpany is governed by its Articles of Association and is controlled by the Directors. Statement of Dlrectors, and Trustees, Responsibilities TILe trustees (who are also directors of Kidderminster Railway Museum Trust Ltd for the purposes of company law) are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Stsndards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs for the charitable company and of the in¢omiDg resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements. tbe trustees are required to". select suitsble accounting policies and then apply them consistently; - observe the methods and PTinciples in the ChitIeS SORP 2015 (FRSSE). - make judgements and ¢stinte8 that are reasonable and prudcnt. - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the fmancial statements- - prepare the financial statements on a going concern basis unless it is inappropriate to preSUn that the charitable company will continue in operation.
THE KIDDERMI.NSTER RAILWAY MUSEUM TRUST LIMETED A COMPANY LLTrtrrED BY GUARANTEE TRUSTEES, AINNLAL REPORT FOR IIIE YLIR EED 31st DECEMBER 2023 The trustees are responsible for keeping adequate accoullting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the fllW]cial statements comply with the Companies Act 21K)6. They arc also responsible for Safeguding the assets of the clwitsble company and hence for tsking reasonable steps foT the prevention and detection of fraud and othcr irregularities. In so far as the trustees are aware: - there is no relevant InforntiOn of which the charitable company's examiner is unaware. and - the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant infonnation and to establish that the examiner is aWe of tbat inforn)ation. - The trustees are not in consultatiOJL8 with the independent examiners to provide fillther )nforntiOn to meet th¢ requiiements of FRS 102 Slatezncnt of Recommended Practice. Internal Control and Risk Management The Directors r¢vi¢w the effectiveness of all rnaterial internal controls, including operational, fjnancial and compliance controls and risk management systents. The internal control syst¢rns are designed to meet the CompanVs particular needs and the risks to which it is expose to mat]age those risks and to provide reasonable assurance against n]isstatement or loss. Objectives and Activities Th¢ objectives and activities of th¢ charity continued to be that of an independent Museum established for the collection of relics and documents depicting the rdilways of the British Isles. unteers The charity is 8rnteI for the unstinting efforts of its volunteers who are involved in service provision. It is estimated that over 8,800 volunt¢¢r hours were provided during this year. If this is conservatively valued at £1 0.42 an bour the volunteer effort amounts to £92,000. Chairman's Annual General Meetln Re To all Staff: ort Strate ort Whilst visitor numbers to the Mus¢um had still not Teachedpre-pandernic leve]s, due. in some degree, to the SVR servi¢¢ reduction and the iesultsnt loss of passenger traffic. our own ellts have been well-supporte(L One can only hope that the trend will continuc upwaTds. We do, howevcr. have to be aware that cultural changcs have taken place in the last frw years and we have to be able to adapt to those changes to ensure sustainability of the museuEn. Room hirings had not quit¢ returned to pre-pandemic levels, but were encowaging.
THE KIDDERNIKNSTER RAILWAY MUSEUM TRLTST LIMITED A COMPANY LIMITED BY GUARANTEE TRUSTEES, ANNUAL REPORT cor4TINLED FOR THE YEAR EYDED 31st DECEMBER 2023 Major events dwing this period were the Guild of R2ihYay Artists exhibition wbich proved very successful in tern of paintings SO1 whtcb gave a sigDificant fillip to KRM fijnds. Also, the Signalling Weeken(Ls continu¢ to be popular, as do our Photogrdphic Fairs. Cafe sales continue to provide a njOr source of income and this h&s been greatly enhanced by the adoption of a card-reader. Lik18¢, our book sales have benefitted from this adoption. were a stcady str¢am of new publication5, DJOStly notably from Lightwood Press, plus we continued to T¢c¢ive several large donations of good quality se¢oDd-hand publications which not only enhanced our library oElcGtion, but also mad¢ a significant contribution to our incoll. Energy usage continued to be a major expenditure and all reasollable attempts to economise where Practicable were undertaken. Disagreements with Eon continue! We have also been in negotiations with the rating authoriries over our business rates liability, and these discussions are also ongoing. Much work was undertaken to make the fornier Nursery suitable for the museum's needs. both in tern of it being an asset that can be hired and also for the usage of ow volunteers. This is now a comfortable and valuable iesourcc, Other external work wa3 carried out on both rolling stock and signalling equipment. This has been facilitated througb an increase in our external volunteers. Throughout this period attempL8 were made to balance our staffing requirements in accordance with both our footfall and costs. The increase in the Living Wage and tbe rapid incre&ge in costs of food and building materials have bad an in)pact on the operdtions of the mweum which we have had to address. Work, as ever, continued with processing our ever-growing photographic collection with tbe numb¢rs arcbived being approx 250,000 black & white images, togcther with 50,000 colour imagcs, Wc continue to Tec¢ivc signifi¢aTht additions to this archive. Income from th¢ sal¢ of photogrdphic images continued to be good during this period and shows no likelihood of decreasing. As remarked upon in the previous repo¢ the Musewn not yet back to pre-pandemic levels with regard to income and footfall. However, we continue to be moving in the right direction. It just remains for me, on behalf of all Ttees, to thank all those who contribute to the Museum's success, in whatever way. Your efforts are truly appreciate(L S A Wllllams126th July 2024)
THE KIDDERMINSTER RAILWAY MUSEUM TRUST LIMITED A cOmPNy LIMITED BY GUARLwfEE TRUSTEES, AN[AL REPORT CONTINUED FOR THE YEAR ENDED 31st DECEMBER 2023 Statement of Disclosure of Inforniation to Independent Eiaminers We, the Directors of the cotnpany who held office at the date of approval of Ihese Financial Statements, as set out above. eacb confirni so far as we are aware. that: - there is no relevant infornution of which the company's independent exan]iners are unaware: and - we have taken all the steps that we ought to have taken as directors in order to make Ourselves aware of any relewdnt infonnation and to establish ihat the CoMpanS independent examiners are aware of that infOrntiOn. Independent Examiners A resolution proposing that Silver & Co. be re-appointed as independent examineTS of the cbarity will be put to the ADnual General Meeting. This Teport was approved by the Board on ...........
INDEPENDENT EXAMINERS, REPORT TO THE TRLTSTEES OF li THE iaDDERMINSTER RALWAY MUSEUM TRUST LIMITED We report on the accounts of the Company for the year ended 3 1st December 2023 which are set out on pages 8 to 17. Respective responsibilities of Trustees and Independent Examiners The trustees (who are also th¢ dÉTectors of the company for the purposes of company law) are Tesponsible for the preparation of the accounts. The trustees consider that an audit is not rcquircd for this year under section 144 (2) of the Charities Act 2011 (the 2011 Act) and that an illdependent examinatloll is ne¢ded. Having satisfied myself that the Charity is not subject to audit under company law and is eligible for independent examination, it is our Tcsponsibility to: - exarnine the accounts under S¢¢tion 145 of the 2011 Act. - follow the procedures laid down in the g¢ll¢ral diiections given by the Charity Commission under section 145(5)(b) of the 2011 Act; and state whether particular matters have come to my attention. Basls of Independent EIaminer's report Our examination was carried out in accordance with the general directions given by the Charity Con]n]ission. An examination includes a review of the accounting records kept by the charity and comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosuT¢ in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in and audit and consequently no Opinion is given as to whether the accounts prescnt a "true and fair view" and the report is linuted to those tuatters set out in the statement below. Independent exmainer's statement In connection with ow exaznination, no matter has come to our attention: l) which gives us reasonable cause to believe thaL in any material respect, the requirements: - to keep accounting rordS in accordance with section 386 of the Companies Act 2006. and - to prepare accounts which accord with the accounting Tecords. comply with th¢ accounting requirements of section 396 of the Companies Act 2006, and are in accordance with the methods and principles of the chaTity commission CC17a annual acccounts report. have not becn mct. or
INDEPENDENT EXLMINERS, REPORT TO THE MEMBERS OF THE KIDDERMINSTER RAILWAY MUSEUM TRUST LIMrrED CONTINUED 2) to which in our Opinio attention should be (bawn in order to enable a proper understanding of the accounts to be reached. The Hollies, 16, St. Johns StreeL Bridgnorth. Shrop5hiTC. WV15 6AG Silver & Co., Independent Examiners. &p4ekn
THE KIDDERMINSTER RAILWAY MUSEUM TRUST LIMITED li A COMPANY LIMITED BY GUARANTEE CONSOLIDATED STATEMENT OF FINLNCIAL ACTTVITIES CLUDThC SUMMARY INCOME AND EXPEIYDffL'RE ACCOUN FOR THE YEAR ENDED 315t DECEMBER 2023 Unrestricted Restricted Funds Funds 2023 2022 Notss Incoming Resources Donations and Legacies Rent Received Café Income Hir¢ of PreTnises Grants and Other Incom¢ Arts Council grant Transition Book Commission tncome Bank Interest Received Signalling Weekend Fees Bequests Photos 2&3 7.226 7,226 14,331 2,578 59,733 8,881 2,834 5.707 56,505 5,517 100 56,505 5.517 100 5,493 623 778 1,916 2,656 5,493 623 778 1,916 2,656 63 2&3 Total Incorning R¢sources 80,813 80,813 94,127 Resources Expended Direct Charitable Expenditure: Exhibition Costs and Loss on Sales Property Improvements Museum Overh¢ad5 29.671 29,671 52,290 29,671 29,671 52,290 Other Expenditure Manag¢ment & Administration 30,499 30,499 40,933 Total Resources Expended 60,171 60,171 93,223 Net Incoming Resources Fund Balances Brought Forward I st January 2023 Fund Balances caled Forward 31 st Dcccmber 2(J23 20,642 20,642 904 275,795 212,555 488,350 487,446 296,437 212,555 508,992 488,350 Alt of the above results a derived from continuing activities. All gains and losses recognised in the year are included above.
THE KtDDERMINSTER RAILWAY MUSEUM TRLST LIMITED A CO.TrIPANY LIMITED BY GUARANTEE BALANCE SHEET AS AT 31st DECEMBER 2023 2023 2022 Note FIXED ASSETS: Tangible assets Intangible assets 10 11 255,070 256,989 255.070 256,989 CURRENT ASSETS: Stocks Debtors du¢ witbin one year Short tern) deposits C&8b at Bank & in Hand 3,887 6,188 5,253 9,821 12 258,422 268,497 226,200 241.274 CREDITORS: amounts falling due within one year 13 (14,576) (9,913) NET CURRENT ASSETSI(LIABILITIES) 253,921 231,361 TOTAL ASSETS LESS CURRENT LIABILITIES 508,992 488,350 CREDITORS: amounts falling due after more than one year 14 NET ASSETSI(LIABILITIES) 508,992 488,350 FUNDS: Unrestrlcted Funds General Funds Designated Funds 296,437 275,795 296,437 275,795 Restricted Funds 212,555 212,555 TOTAL FUNDS 17 508,992 488,350 These accounts have been prepared in accordance with tbe provisions applicable to companies subject to the small cou]panies' regime and in accordancewith the Financial Reporting Standard for Smaller Entities (effcctivc April 2008). The fllmncial staterncnts on pages 8 to 9 were appTov¢d and authorised for issue by th¢ trustees on ?kcsfj _) i?r signed on their behalf by: Dir¢¢tor
THE KIDDERMLYSTER RAILWAY MUSEUM TRUST LIMrrED A COMPANY LINllTED BY GUARANTEE OTES FORMI.NG PART OF THE FINLYCIAL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2023 Accounting Policies (g) Basis of preparydtion The fujancial statements have been prepared under the historical cost conventio with the exception of investments which ar¢ included at market value. The financial statements have been prq)ared in accordance with the Ststernent of RecoTnmended Practice (SORP), Accounting and Reporting by Clwities" published in 2005 atul the Financial Reporting Standard for Smaller Entities (effective April 2008). The charity has availed itself of Paragraph 4(1 } of Schcdule l of the Small Companies and Groups (Accounts and Directors, Report) Regulations 2008 and adapted the Companies Act fornydts lo reflect the special nature of the charity's activities. No separate SOFA h&8 been presented for the charity alone as pern]itted by Section 408 if the Cotnpanies Act 2006 and paraph 397 of the SORP. (b) CompAny Status The charity is a company limited by 8uardntee. The members of the company are the trustees named on page l. tn the event of the charity being wound up. tbe liability rcspect of thc guaranlee is limited to £1 per Djember of the charity. (c) Fund Aeeountlng General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the chaTity and which have nol been designated for other pury)oses. '4* Designated funds Comprise unrestricted funds that have been sct aside by thc tntstees for particular purposes. The airn and use of each designated fimd is set out in the notes to the .41 financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular pUose8. The cost of raising and administering such funds are cbarged against the Bpecific fimd. The aim and use of ea¢h restricted fund is set out in the notes to the fuLqncial statements. Endosvment fimds represent those assets which must ne held pern]anently by the charity, principally investments. Income atising on th¢ endowtnent funds call be used ID accordance with the objects of the charity and is included as unr¢stricted income. Any capital gains or losses arising on the investments fomi part of the fimd. Invcstm¢nt management charges and legal advice relating to the fund are charged against the fund. Jllvestment income and gains are allocatd to thc appropriate fun(L 10
THE KIDDERMI]YSTER RAILWAY MUSEUM TRUST LIMITED A comP¥y LIMITED BY GUARAIYTEE NOTES FORMING PART OF THE FINLNCIAL STATEMENTS FOR THE YEAR ENDED 31st DECETrIBER 2023 (d) Incoming Resources All incoming resources ate included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. For legacies, entitlement is tbe earlier of the charity being notified of an impending distribution or tbe legacy being received. Gifts in kind donated for distribution are included at vahtioll and recognised as income when they are distributed ti) the projects. Gifts donated for resale are included as income when they are sold. Donated facilities are included at the value to the charity where this &qn be quantified and a third party is bearing the cost. No amounts are included in the financial statements for servAces donated by volunteers. (e) Resources Expended All expenditure is accounted for on an accruals basis and has been clasified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of tbe resources. Premises overheads bave been allocated on a floor area basis and oth¢r ov¢rheads bave been allocated on the basis of the head count. Fund-raising costs are those incurred in seeking voluntary contributions and do not include costs of disseminating infOrntIOn in support of the charitable activities. Support costs are those incurred directly in support of expenditure on the objects of the charity aDd include project management carricd out at Headquarters. Management and administration costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory rUlTernents. (fj Tangible Fixed Assets and Depreclation Tangible fixed assets costing more than £1,000 are capitalised and included at cost including any incidential expenses of a¢quisition. Depreciation is provided on all tsngible fixed assets at rates calculated to Vlte off the cost on a straight line basis over their expected useful lives as follows: Plant and Equlpnnt Fixtures and Fittings Office Equipment 250/0 per annum reducing balance. l O % pcr annum reducing balance. 25 % per annum reducing balance. (g) Investments Investments are stated at market value at the balance sheet date. The SOFA includes the net gains and losses arising on revaluations and disposals througbout the year.
THE KIDDERlINsTER RAILWAY IWUSEUM TRUST LIMITED li A COMPANY LIMrrED BY GUARANTEE NOTES FORMING PART OF THE FIN'C[AL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2023 CONTINUED (h) Stock Stock consists of purchased goods for resale. Stocks are valued at tbe lower of cost and net realisable value. Items donated for resale or distribution are not included in the financial statements until they are sold or distributed. (i) Pension Costs The charity do¢$ not yet operate a contribution scheme for it's employees. (i) Finance and Operating Leases Rentals applicable to operating leases are charged to the SOFA over the period in which th¢ Cost is incurred. Assets purchased under fll)aDce lease are capitalised as fixed assets. Obligations under such agreements are included in Creditors. The difference between the capitalised cost and the total obligation under the lease represents the fllkance charges. Finance charges are written off to the SOFA over the period of the lease so &8 to produce a constant periodic rate of charge. (k) Forelgn Currencies Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and Iiabilities are retranslated at the rate of exchange nlling at the balance sheet date. All differences are taken to the SOFA. 12
THE KIDDERIWIISTER RAILWAY MUSEUM TRUST LIMITED A COMPANY LLMITED BY GUAII4NTEE NOTES FORMKNG PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2023 CONTINUED I)onations and Gifts 2023 2022 Individua]s Charitable FouDdations Bequest Donations reccived (non-restricted) Corporate Donors Gifts in 'nd 7,226 14,331 1.916 9.142 14,331 Legacies The charity received during the year a bequest of £ J 9 16 4 Mer¢bandi8ing Income and Costs 2023 2022 Merchandiging Income 81,359 85,801 Cost of Sales Administrative Expenses 24,854 30,499 26,068 40,933 Merchandising Expenses 55,354 67,001 Surplus 26,006 18,800 Investment Income 2023 2022 Interest Receivable Dividends R¢ceivabl¢ from Equity Sbares Dividends Receivable from Investments and Unit Tn]sts 623 63 623 63 13
THE KtDDERMINSTER RAILWAY MUSElJTrl TRUST LIMITED A COMPANY LIMITED BY GUARLNTEE NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2023 CONTINUED 6 Total Resourees Expended OTHER OTFtER STAFF DIRECT ALLOCATED TOTAL COST COSTS COSTS 2023 TOTAL 2022 Fund-raising Costs Merchandising Costs Inforn]ation and Education Support Costs Management and AdMintratiOn 17.502 12,169 29,671 52.290 30,499 30.499 40,933 Total Resources Expended 17,502 42,669 60,171 93,223 Other direct costs include: 2023 2022 Examiners Remunerdtion (including expeL8es and benefits in kind): Independent Examiners Fe¢ Aecountancy, Taxation and Other Seryices Operating Lease Rentals Depreciation - on Owned Assels Depreciation - on assets held on finance leases and hire purchase Contracts Finance Lease Interest 4,083 9,263 2,445 2,786 6.528 12,049 Trustees, Remuneration The trustees neither received nor waivered any emoluments during the year {2022 £Nil). They also did not receive any out of pocket expenses. Staff Costs 2023 2022 Wages and Salaries Social Security Costs Pension Costs 17,502 16,337 17,502 16,337 There were no employees ¢arning more than £60,000, and no stsff received any emoluments that need to be defined for taxation puTpos¢s. There were no full-time staff members during the year. The staff work on a part-time ad hoc b&8iS. 14
li THE KtDDERMtNSTER RAILWAY MUSEUM TRUST LIllTED A cOmP¥Y LIMITED BY GuARTE NOTES FORMtNG PART OF THE FINAI¥CIAL STATEMEYfS li FOR THE YEAR ENDED 31st DECEMBER 2023 CONTINUED Pension Costs There was no Pension Scheme operated by or on behalf of the charity during thc year. 10 Tangible Fixed Assets Plant & Office Fixtures & s Relics Land Total Cost as at 1st January 2023 Additions Cost as at 31 sl December 2023 31,238 525 31,763 51,729 85.133 155,705 323,805 51,729 85,133 155,705 323,805 Depreciation as at 1st January 2023 Charge for Year Depreciation as at 31 st December 2023 27.364 1,099 28.463 38,282 1,345 39,627 1,170 66,816 2,444 69,260 1,170 Net Book Value at 31 st December 2023 3.300 12,102 85,133 154,535 255,070 Net Book Value at 3 1st Dernber 2022 3,874 13,447 85,133 l54,535 256,988 I l Fixed Asset Investments The Charity had no fed asset investments during the year. 12 Debtors 2023 2022 Trade Debtors Legacies Other Debtors Amount owed by Subsidiary Undertaking Prepayments and Other Accrued Income 6,188 9,821 6,188 9,821 15
THE KIDDE[NSTER RAILWAY MUSEUM TRLST LKMrrED A COMPIINY LIMfrED BY GUARANTEE NOTES FORMING PART OF TItE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2023 13 Creditors . Amounts Falling Due Within One Year 2023 2022 Trade Creditors Transition Book Taxation and Social Security Costs OtheT Creditors Obligations under Finance Leases Accruals and Det'etred Incom¢ 5,088 3,294 5,887 2,124 3,600 14,575 4,495 9,913 14 Creditors . Amounts Fallfing Due After More Than One Year The Charity had no Creditor amounts outstsnding due after more tban one year. 15 Obligations Under Finance Leases The Charity had no Obligations under finance le&8es during the year. 16 Financi21 Commitment$ The Charity had no Financial cornmitments during the year. 17 Statement of Funds Investment Gains A5at enditure ITransfers 3111212023 Asat 0110112023 Income Ex Unrestricted Funds 275.795 80,813 {60,171) 296.437 Total Unrestricted Funds 275,795 80,813 (60,171} 296,437 Investment Cains Asat enditure rfransfers 3111212023 Asat 0110112023 Income Ex Restricted Funds 212,555 212.555 Total Restricted Funds 212,555 212,555 Total Funds 488,350 80,813 60,171 508,992 The Restricted Funds r¢present the estimated market value of exhibits over and above cost to the company, as well as a bequest Teceived. 16
THE KIDDERMINSTER RAILWAY MUSEUM TRLTST LIMITED A COMPANY LIMITED BY GUARANTEE NOTES FORMING PART OF THE FINANCLIL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2023 CONTINUED 18 Analysi$ of Group Net Assets Between Funds The Charity is not part of a Group and there fore has no group net assets. 19 Subsidiary Company The Charity does not have any Subsidiary income. expenditure or funds. 20 C85b Flow Information for the Group As the Charity is not part of a Group a Group Cash Flow is not required. 17