REGISTERED COJllP.41NY N'bThrfBER: 02060988 (England and Wdles) REGISTERED CHARtTI' yiflfBER: 518)16 RECEIVED O I AUG 2025 rt of the Trust Unaudited Financia] Statements for th Year Ended ?8 Febru ?025 CHASEWATER LIGHT RAILWAY & MUSEUM Charity Commission 0 7 AUG 2025 Received CHEADLES Chanered Accountants Telrgraph House )9 Woli'erhaTnpton Road Siafford Stafford5hire ST17 4AIV
CHASEWATER LI Frr RAtLWAY & MU COMPAN Contents of ihe Financial Ststements for the Year Ended 28 Febru ?0? j Page Report of the Trustee5 Indcpetsdent E%aminers Report Statement of Financial AclivitlCS Ba1ce Sh¢el Cash Flow Siatemeni Notes lo the Cash Flow Stat¢meni Notes to the Financial Siaternents 9 to 17 Detailed Statement of Financial ActlVllie5 18 to 19
CHASEWATER LIGHT RAILWAY & MUSEUM COMPANY orl of the Trustees he Year nde 28 Feb for Thc trustces iyho are 50 dircctor5 of ihE charir). for the purposc5 of th¢ Comrdni¢5 A¢t 2006, psent tjicir rcporr i¥'itli t11r financial slaiements of the charity for the year ended ?8 Febrnary. 202). The trusrces have adopted thc provision5 of Accountiog and Reporting by Charities.. Statement of R¢commended Practice applicable lo charities prewing theTr accounts iti accordancc with the Financial Reporttng Stendard applicable in the UK and Republic of Ireland IFRS 102) (effectii'.c l January 2019). OBJECTIVES AND ACTIVITIES Objectives and aims The objectives of Cha5ewater Light Rkiliyay & Museum Company iyritten in 1986 are as folloivs: To promote and to rther the educa(ion of the public in the hsstory of the railw and general tran5POrt heritage of tlie United Kingdom. with spe¢ial r¢fereoce 10 industrial and light rdtliva)% and to the West Midlan(Ls b) thc creation and operation of museums of all tvpes and, in rtheranCe of thcse objects bul noi otheni'ise. by the creation and operation of rai11I7yS. tt'amivays OF other forms of transport. Significant activities The activities of Cha5eivater Lighi Ratlivay & Musewn Company are to nm lieritagc industrtal steam and diesel passengej. services Ihroughoul the year in ac¢ordance ivith the objeciives illlen in 1986, and to proi'ide a museum containing artcfacts from the local i'ailii'ays other asso¢iaied trdnsport systems io educate the public. The company also acquires nui, ttQ]ibits from the local arca and holds regular special events ii,here various aspects of the "colliery linc" arc shown. The ¢ompany hold numerous events durin2 the year on top of the standard ruruTring servicrs which include the loca] comrnunity ar]d other charitable associaiions. Public bLnefJt All trustees are proN'ided iyith ihe guidan¢c issued bs. the ChaTity Commi55ion on public benefit. It is felt that ive confirn) io the current gLiid8nce. this is coniioually under revieiv to ensure compliance. Page I
CHASEWATER LIGTrfF RAILWAY & MUSEUM Re orl of thc Trustees for the Y ar Ended 28 Febru 2) STRA TEGIC REPORT Financial positlon For the year ended ?8th Feb ?): being esseniTallJ the 20?4 Se&son, overa]l financial rfornJancc on the prei'ious vear has improved. and li is hoped a trend of Continuing improvemeni itrill be cstablished: eart?T indications from the 202) season being Posltive. A significant effort by the director5 in identifying and managin? costs and seeking io obiain better Nalu¢ has been Coupl an increasing revenue stream .]th turnover rising above £500k for ihc time. Whilst ihis mFlesione is a great achievcmeni in itselt. it 15 a testament to the hard ii'ork of all our i'olunteers and SEaff. Overall net surplus has risen from £60k 10 £72K-. a good result in itself, hoiv¢ver li should be nOd that this is after 811011ing for a ye. Ivhen iyc had beell abl¢ to make modtst progress iiith invesiing in improvlng our infr&%tructure and rcstoring our hisioric v¢hicl£s. Post year end li'e have Started on 5i8nificant projects that have been on hold for some time. illcludsng repla¢ement of tlie steam shed floor and u full refurbishment of th¢ building othenITr5e: and arc iitll inio projcct planning for remediaiioii i¥'orks to our operational coaches. Work to better catcgorise expenditure h&s made significant progress during the year ond this has enabled better infomialion to be provided for members in Ihe derailed expenditure section of this report. Better allc*¢atiou of c05t elements to M.gInal train operating Costs. and apportionment Speci event and non-evcnt davs h&$ impacted margin5 in these ar. but thi5 iepiesents bellcr a¢couniing rather than significantly rising underlying costs. Whilst margins have increased for tlie Tea Room. they have fallen for Shop Sale5 durtng the reporting period: clearing old stock contributing lo iiith underls'ing costs remaining steady but rcceipts falling. The r'ampIng ofour retail offering continucs and ive cxpe¢t (he sitsiation io change i¥ith initial improi'em¢nts being seen post }'ear end. Income from Memberships, Donations, and our Bric-Brac team have 91] increased. The reryestablishmenl and developmcnt of partnerships Ivith organi5atlOlJ5 using our infrastrncture for training. testing, Olrerhaul and storage of rolling stock- has leveraged increed revenue from our a55et basc ivhick helps 10 fi]nd our chariiable activitie5 running our heritage railii'ay and museum. Thi5 hus seeii Other Trading Activiti¢5 income rise signtfTcantly. iiithout a correspondino increasc in the relevani cost base. Overall incojne increased by 170A on the Previous year. ii'ith overa]I cxpenditure incrc&sittg by 150A compared to the PlEViOUS year. noting the comments above on infrastru¢ttire improvcments. ll.Trilsi income is eipected to coniinue lo groiv in the 2)126 year, elpendilurc is expected to increase, but drivcn by the undertakinE of projects rdther than Significant rises in thc routiiie cost base or fundraising activities costs. We do not attempt to assign our entirc oi'erhead cost base to our trdding and investment income activitie5. As a 'railivay society, running a ii'orking museum, t.or the publi¢ ben¢fit: Ivc maintatn our stations, tra¢L Siores and museunL and conserve our rolling stock and museum collection as a primary purpos& Incom¢ generdting actiiyties support this purpose. Heritagc &ssets ivere M'alued amd ihere Ire some modest acquisitions and disposals: i¥rytli a sinall net increase of 2tt/0 in heritage rolliEJg stock value. Th¢ museLim colleciion: iTrhich &n¢ludes some rolling s(ocLcontinues to be h¢ld at a zero va]ue in accordance vith museum sector best practice. Reserves polie). We curr¢ntl)' have restricted ndS {ring fenced monie5) of £30.100 for the IA)comoiive Asbe5to& £8,690 ftir the cosi of building neiv C&Tiage shed, £9J4 for ihc cosi of Heritage CenÉTe roof repairs and £2.200 for Natroii. Gauge Railivay. We have a Designated Reserve of £IO.000 for Financial Emcrgencies. There are no other forn]ally defined rescrves but all funds are applied lo the rnainlenance, Tesloration and devclopmcnt of the rdilwa), and museum. STRIICTIIRE, COVERh'ANCE NIANAGENIEI Goveyning document The charityr 15 controlled by its governing document, a Memordndum and Articles of Association which constitute it as a eompany limitcd b5, guarantee and iiithout 5harc capital, as defined bv the Companies Act ?006. Rcerllitment and appointment of trusttts Trustces are appointed in accordance with the articlcs of 0cIatiOn. Trnstee recrnitment during the period of this report iv&8 undertakcn Bnd one new trustee appointed by the boariL to be pui fo the memtrrship at tl)e next AGM. Most trustees have management roles as director5 of the compon}, in addition to their general responsibilities as charity trustees and to ivhich they are appointed by th¢ iard ii'kthin an overall stTueture agreed and published by chc board. Trusiee5 ar¢ sought b), the board to meet necds. although members and others are ivelcome lo approach the board io offcr their services. REFERENCE .41} ADNItN'ISTRATIVE DETAIiS Reuistered Company number 02060988 (England and Ivales) Page ?
CHASETh.'ATER LJGiif RAILWAY SEUM ort of the Tn]stees for the Year Ended 28 Feb Registered Charity number 518516 Re%i5tered offit¢ Brownhills Ivesi Siation Chaseivater Country Pai'k Pool Lane, Broiiithills Walsall WS8 7NL Trustees M Fellow5 (resigned 12.7.24) L Tuckcr R Thompson (resigned 12.7.94) J Coivan J Vernon (resigned 12.7.?4) S Westley D Williams A Mould (appointed i. 11.24) Companv Secretary A Hall Independent Eyaminer CHEADLES Cliartei'ed Accountants Telegraph House 59 Wolverhampton Road Stsfford Staffordshire ST174AW Report of the IrusteE& incoTporating a strarcgic reporL approved by order of the board of tru5te¢s: as the compan}, directors, on l O June 2025 and Signed on the boards belialf by: S We5tle),_ TTUStee
Inde endent Examinerfs Re ort lo the Trust Chaseivaier Liohi Rai[-a & Mus¢um om esof Independent examiner's report to tbe trustees of chaseter Light Railwa) & NIu5eum Company ('the Company,) I report to the charity trustees on my ¢xamination of the accounts of the Company for the ycar ended 28 February 202). R¢5ponsibllitie$ and basi5 ofreporl As the charity s tnistee5 of the Compan!, (and also its dir¢¢tors for the purrM)ses of cornpany laiv) vou are resportsible for the preparation of the accounts in accordan£c ivith the tequiremcnts of the Companies Act 2006 {'the 2006 Acl,). Having satisfied mvsclf that the a¢counls of the Company a noi rcqllired ts) be aud2ted under Part 16 of thc 2006 Act artd are cligible for independent examinaiTon, I repon in respect of m). examination of )'our charlS accounts as wried out under Section 145 of th¢ Charitics Act 2011 I'the 2011 Aa,). In cani'ing out my amInation I have folloii'¢d th¢ Direction5 given by the Charity Commission under S¢ction 145{5) (b) of the 2011 Aci. rndependent examiner'5 Statement Since your charity's '0s5 income eyceeded £2iO,000 your e%aminer must bc a member of a listed body. I can confimi that l am qualified to undertaL"e rhc eyamination because l am a mernber of ihe Instituie of Chartcred Accountants ii? England and Wales, ithich is one of the listed bodies. I have completed my examination. I confimi that no matters have come to nTh' attention in conne¢tion with the exan]ination giving me Cause to believe- accounting rccords ivere not kept in rcspect of the Con1plY as required by Section 386 of th¢ 2006 Aet" or the aceounis do not accord ivith thosc records. or the accolints do not ¢ompl)' wilh ihe accounting requirements of Se¢tion 396 of the 2006 Act other than an), r¢quii'emenl that the accounts give a true and fair vieii. Ivhich is noi a matter nsIdered a5 part of an independeni examillaiion- or the accounts have not been prepared in accordance with the method5 and principles of th¢ Stèlement of Recommended Prdciice for accounling and Teporting b). Charities lapplicable to charities preparing iheir accounts in accordance ii'ith tlie Financia] Reporting Standard applicable in the UK Republic of Ireland (FRS 102)). I have no concerns arftd have come across no other matters in connection lIh the examination lo i%,hich artention Should be dtawn in this report in ordcr to enable a proper understanding of the accounts lo reachcd. Cheadles Accountants Thc Institute ofcharter¢d Accountants in England and Wales CHEADLES Chartered Accountants releEraph Housc 59 Wolverhampton Road StsffDrd Staffordsliire ST17 4AW 1&gLthE £)l5 Page 4
CHASEIIYATER LIGHT RAtL WAY & MUSEUM Statement ot Financial Activities for thc Year Ended 28 Febr Unrestricted fund Restricted fiJnd5 29.2.24 Total funds Total ds INCOME AND E)0}I'1EN'Ts FROTrI Donalions and legaci¢s N0*5 14.606 99 14,765 9,567 Charitoble activitie5 Charitable activities 449.849 449,849 402,080 Other trading athii'ities tnvesttnent Kncome 22,014 iO,962 2,708 29.960 30.962 Total 517.491 99 517,590 EENDJT[FRE ON. Charitable aetivitits Charitable activities 443.467 44i,467 J84.128 Otli¢r ?41 241 Total 44i.708 44i.708 384.128 NET INCOME Other recoEni5ed gain5111095es) Gainsl(losses) on reValu10n of fixed &ssets 71,882 60,187 10,500 10,500 (44.340) Net movement in funds 82,283 99 82,382 15,847 RECONCILIA TION OF FifNDS Total funds brought fonvdrd 125i.733 41.82) 2.?95,558 2.279,711 TOTAL Fu1)s CARiUED FORWARD .Ji6.016 41.924 2.377,940 7 29 j.558 The nofrs form pary ofthese tinancial Siatements Page 5
CHASEWATER LIGFFf RAILWAY & SEUM Balance Sliect 28 Febi 25 Unrestrict¢d nd 28.2.2) Total Restricied fitnd5 29.2.24 Tolal FIXED ASSETS Tangible as5eis Heritage Sets Notes 12 1,7iO.786 400.400 1.750,786 400.400 1.752.008 391.400 2.151,186 1151,186 2:14i,408 CURRENT ASSETS Stocks Debtors Cash ai bank and in hand 14 24.417 24.417 8.390 229.642 27.995 187.718 41.924 136.049 220,52) 41.924 262,449 179,i77 CREDtTORS Amountb failing due ivithin one year 16 (ii:69i) (3i.695) (27.427) ET CURRENT ASSETS 184,830 41.924 226,754 152,150 TOTAL ASSETS LESS CURREWt L TABILITIES 2.3J6.016 41,924 2,377.940 9,295.558 NET ASSETS JJ6,016 41,924 2,377,940 2,295,558 FLINDS Unresiricted funds Restricted tunds 17 2.336.016 41,924 2.253.733 41,825 TOTAL FTrS 2,377,940 2,295.3i8 The charitable Company is entitled lo exemption from audii und¢r Seclion 477 of the CompaleS Act 2006 for Ilie year elided 28 Februarv ?02). The members have noi required the ¢ompany to obfain an audit of its financi81 Stalennts for the vear ended 28 February 20?) in accord8nce ivith Seciion 476 of the Companies Act 2006. The Irustees acknoivledge their responsibilities lor (a) ensuring ihat the cliarilable compaT]y k¢eps accounting records that complywith Sections 386 and 387 of the Companies Act 2006 and preparing financial statements ivhich give a true and fair vieiv of thc sialc of affairs of the charitable eompar])' as at the end of each financiat year and of its Surp1 or deficit for each financial Ye in accordance ii'ith the requiremcnts of Sections 394 and J9) and ivhich othenvise comply ivith ihe requiremcnts of the Cornpanies Aci 2006 rclaÉing io fiiiancial Statements, so far as applicable to the charitabl¢ company. (b) The financial statements Ire approved by the Board of Trnstees and authorised for issue on 10 June 202) and iierc signed oli its belidf bv.. S Wesil¢y- Triistee The notes torni part of these financial SE&ements Page 6
ASEWATER LIGHf RAtLWA Y & MUSEUM Cash Floiv Statement for the Ycar Ended 28 Fe ?8.2.25 29.2.?4 Cash flDWS from operating activities Ca511 generated Irom 0rationS 99.373 23.402 Net ¢as1I provÉded by op¢rating activilies 99.373 Cash floivs from investing actiiities Pllr¢he of iangiblc fLied assct5 Sale of lieriiage assets Interesi rec¢ived (9.070) (1,230) 1,981 920 Net cash used in investing activities (i.780) (310) Change in eash and c&5h equivalents in the reporting peyiod Cash and cash cquivalents at the beginning of the reportTrng period 93,593 23,092 li6.049 112,9)7 Cash and cash equivalcnts at the cnd of rhe reporting period 229.642 136.049 The notes forni part of these financiat sefflents Page 7
CHASEWATER LIGFrr RAfLWAY & hWSEUM Notes 10 thc Cash Flo1 Statement for the Year Ende 28 Febru RECONCILIATtOiY OF NET Th'COIIIE TO CASH FLOIV FRO[ OPERAM'G ACTINTTIES 28.2.2) 29.2.24 Iyet income for the reporting period (a5 per the Statement of Finaneial Actii'ities) Adjustment5 for: Deprcciation charges Loss on disposal ot-fixed assets Interest received Rounding Decreasellincrease) in Stocks D¥crease/iincrea5e) in d¢btors Incteaselldecrease) in creditors 71,882 60.187 10,240 241 11,981) 9.462 ?02 (920) 3.)78 7,143 8.268 (393) (14.754) (JO.381) Net cash provided by operations AP*'ALYSIS OF CHANGES IN FUNDS Ai l.J.24 Cash floii, At28.2.25 Net cash Cash at bank and in hand 136.049 93,593 2?9,642 93.)93 ??9,642 Total lJ6,049 229.642 The notes fomi part of these financiat statements Page 8
HASEW'ATER LIGFtr RAtLWAY & MUSE Notes lo the Financial Siatements for the Y¢ar Ended 28 Fe ?0?5 ACCOUNTING POLJCIES Basi5 of preparing the financial statements The financial Slatements of ihe ¢ltariiable companv. iTrhich is a public benefii enlit)T under FRS 102, liave been preped in accordance with tlie Charities SORP IFRS 102) Accounting and Reporttng b!, Charili¢s.- Statemciit of Recommended Practice appli¢able to ¢haritie5 preparing their accounts in accordance ivith the Financial Rewtrrting Standa]'d applicable in the UK and Republic of Irel(wd IFRS 102) {effective l Januar¥, ?019)', Flnancial Reporting Sialldard 102 'The Financial ReFOrting Standard applicable in the UK and Republic of Ireland, at]d the Companies Aci 2006. The fJnan¢ial slalcmentS have been prepared Lmder the historical cost convention. as modified b}, the revaluation of ¢crtain assets. Income All income 15 recognised in the Siatemcni of Financial Activities once ihe charity has enlitlemcni 10 ihc filnds, it is probabl¢ that the income H'ill be received and the atnount cats be measured reliably. Eypenditure Liabilities are recognised as expenditure as soon as there is a legal or constntiVC obligation committing the charity to that expcnditure. it is probable ihat a Iransfer of ¢conornic benefits ivrll IK required in scttlenient aiid the amount of the obligation can be measured reli8bl)'. Expenditure is accounted for on an accruals basis and l)as been Classifi under headings thai aggregate all cost related to the category. Wher costs cannot be directly attributed to Particular h¢adings they liave been afiocated to activities on a basis consiSt i%ith the use of resources. Tangible fixed asset5 Depreciation is provided ai the follo1ing annual rnes in order to WTits off each asset over its esiiTnat¢d uscful life. Jmprovements to property Plant and machinery Fiitures and fittings Compuier equtpment 20 /0 on cost and l OYD on cost ?jV/o on COSL IOY4 on cost and noi provided 2 ji/lD Oti cost 2jQ/o on reducing balan Stocks Stock5 valucd ur the I0r of co* and nct rcaii5ablE valuc. aftcr making due a110ii7ncc for obsolete and slow moving item5. The Trn5tees revieii. stock held at the bdance sheet date to ensure thac only those 8)[l$ deemcd fil for future use or sale are included. Taxation The charity is exempt from corpordtion tax on its charitable a¢iivities. Fund accovnting Unrestricted funds can b¢ used in accordance with the charitablc objeclivcs at ihe discretion of the tnte¢s. Restricted tiinds can only be used for particular r¢5tri¢ted purposes iirythin the objects of the charit).. Restrictions arise ivhe specified by the donor or ivhen funds are raised for particular restricted putposes. Further eXplation ol'the uature and purpose of each fund is included in the notes to thc financiai 5taternents. DOYA TIONS A'D LEGACIES 28.2.25 29.2.24 Donations Grants 14.76) 9,05 517 14.765 9,567 Grants receive& included in the abov& are as folloiy5: 29.2.24 Museum Grant fi]nd 517 Page 9 continued...
CHASEWATER LIGHT RAILWAY & ltrfUSEUM Notes to Ilie Fin4Cial Statements - continued for the Year Ended 28 Feb OTHER TRADtNG.4CTtIlTIES 28.2.25 29.2.24 Subscriptions from MeTnber5 Provision of facilities Rolling siock storage Infrastructure ac¢css 3,794 5.07) 1.840 2,708 22,014 2.708 INVESTIMEfyT INCOME 28.2.25 29.2.24 Propety related receipts Deposit account intercst 28.981 1,981 29,040 9?0 30.962 tNCOME FROM CHARITABLE ACTIVITIES 28.2.25 Charitable ac(ivilies 29.2.24 Total activitieb Train Operating Income Shop Income Special Events Income Tea TOOtr] Sales Bri¢ a Brac 40,001 ?2,204 117,602 264,814 5.228 32,142 91.078 4.622 449,849 402.080 Grants rcceived: included in the above. are as follows." 28.2.23 CHARIT.4BLE AcfiviTIES COSTS Support costs (see note 7) Direct Costs Totals Charitable activities 399.988 45.479 445.467 Pagc 10 coniinued...
CHASETh.'ATER LIGFrr RAtLWAY COhlPANY SE Notes to tlie Financial Staiernents - con(intsed f rtheye ed 28 Febru 2) StIPPORT COSTS Management costs Tolats Charitablc acliviiies 10.?40 35,239 42,479 T INCOTrI IEIIEXPEN'DITURE) Net incom¢l{eipenditurel is staled after chargingl(crediting)-. 28.7.25 29.2.?4 Depreciation - oivned assets Deficit on disposal of fJx¢d assets Aecountants f¢es Payroll & book keeping fec5 10,242 241 5,120 4.019 9,461 202 4,400 TRIISTEES, REIIIUNERATION.4P4D BENEFITS There iyere no irustees, remuneration or other benefits for the year ended 28 February 20?5 nor for the year ejpded 29 F¢brL18n, ?024. Trustees, expenses The follomryng expenses were reimbursed to trtislees during the year: £218 {2024.. £Nil)- Advcrt15ing & Marketing £46 {2024.. £Nil)- General Expcnses £26612024.. £1.709)- Loco Mainl¢nan¢e £Nil {2024.. £Nil)- Track & Siation Repairs £5612024.. £Nil) - Office Equipment £498 (20?4.. £254)- P05tag< fiEight & Courier £303 {2024.. £8561- Repairs £Nil {2024- £?:422) - Speciat Events eypenditurc £Nil (2024.. £6i)- Tea Room Purcliases £9i120?4: £Nil)- Shop Purchases £J4 (?024= £1181)- Subscriptions £Nil (2024= £1)) - Professional fees £278 (2024.. £Nil)- Workshop Consurnables i Trugiees12024.. 91 IveTe reitnbursed during the year. STAFF COSTS io. Sarles and Wages - £126.390 12024= £109.506) The average monthly number of employces during the year as follo1. Tea room Shop Admin & Facilities 28.2.?5 15 29.2.24 io 19 13 No employees received cmoluments in exce&s of £60,000. Pagcll continued...
CHASEWAIER LIGHT RAILWAY & MUSEUM Notes 10 the Financial Statements- continued foi. the Year Ended 28 Fcbr ?0?5 ij. coNtPAIL4TIVES FOR THE STATEMEN'T OF FIN'ANCIAL ACTivfTtES tinre51ricied nd Rr5Iricd funds Total funds TN'COME.4ND ENDOIMNIEfTS FROM Donaiions atjd legacies 7.367 9.)67 Charitable activities Charitable activities 402,080 402,080 Other trading activities Investm¢nt income 2.708 29,960 2.7()8 29.960 Total 442.115 2.200 444,31 i EXPEYDITURE O,N c.haritable 3£tivities Charitable activities 384.128 J84.128 IIT LNCO.ME Other recognlsed gainsl{105ses) Gainslllosscs) ou revaluation of fixed &%sets i7.987 60.187 (44.340) (44:J40) Net movement in funds 13,647 ?,200 li.847 RECOh'CILJA TIOY OF EUNDS Total ndS broughi fonvard 2,240.086 39,625 1279.711 TOTAL FuNs CARIUED FORWARD ? 253.733 41.825 2,29i.i58 Figures stated &re for the year cnding 28 Febnw)p ?024. TANGIBLE FLXED.4SSETS 12. Improi'ernertls Short le&sehold Plant and achinery prop¢ty COST At l March 20?4 Addihons l.J70.000 46.313 427,838 9,020 Ai 28 Fcbruary 202) l.J70.000 436.858 DEPRECIA TIOIY At l MaJch ?0?4 Charge lor year 28,286 4,022 6),339 3.849 At 28 February 2025 3?.308 71,188 T BOOK ITALUE At 28 February ?025 lu70,000 14.005 365,670 At 29 February 2024 l.i70.000 18.027 362,499 Page l? ¢ontinued...
HASEW ATER LIGFrr RAILWAY & MU COMPAN Notes to the FinanciAI Statements- continued for ihe Year Ende 28 Febru ?025 12. TknNGIBLE FLiED ASSETS- continued FixtuS and fitting5 Cornpuler equipment Tota15 COST At l Mar¢h ?024 Addiiions 20,043 4,679 1.868.873 9,020 Ai 28 February ?02) 20.043 4.679 1,877.893 DEPRECI.4TION At l March 2024 Charge for ye8r 20,043 3,197 116.865 10,242 At 28 February ?025 20.043 3,568 127,107 IYET BOO1% I'ALUE At 28 FebTuary 202) 1,7iO,786 At 29 FebnJ8ry 2024 1.482 1.752,008 Plant and Machinery includes track and signalling &5 siEThficant ii¢ms bi, value. HERIT.4GE ASSETS 13. Total IWIARKET VALISE At l March 2024 Disp05a15 Revaluarions i91.400 (1,500) 10,500 At 28 Fcbnjary 202) 400.400 NET BOOK VALbE' At 28 February ?02) 400.400 At 29 February ?024 391.400 Tlie l)eritage a5S¢ts locomotive, Carriages and Wagons havc becn revalued b), the trustees at 29th February ?025 at realisable market 'alUe. There is an estsblished mark-ei in these heritage assets and i'alualions are based on this rnark"et. Due lo the rare nature of these assets il ii'ould be misleading io value them on a hi5torica] co& basi5. The Locomotiv¢, Carriages and Wagons not part of the Mu5eutn Collection, had an original vaIualion of £46.38) on 3111211987 folloi¥ing donation by Chaseivat¢r Light Railii-ay Socier), in 1986. The}, have 5ubsequencly beeii rei'aiued on a nLunber ot'occasions: and Ih¢r¢ have becn significani additions and disrrf)5als. The heritage assets 'Museum Collection, had an ortgina] valuation of £20:000 on Jl/l J? 1987 following donation b). Ch&s¢ii'ater Light Ratlii'ay Society in 1986.There ills one addilion of £3.000 and they had a value of £23.000 011 281021?02). They hatre been revalued by the trusiees at 29th February, 20?) at £0 in accordance with the revised capiiatisation policy adopted in respect of thesc &sscts. Page 13 continued...
CHASEWA TER LfGEif RAILWAY SEUM Noies to thc Financial Statements- continued for the Year Ende 28 Febr 13. HERIT.4GE ASSETS- continued Cost or valuation at 28 Februarv 202) is r¢prescnted by: Locomotives, Carriage5 Wagons not part of the Museum ollcaion Museum Collection TotA15 Valtsation in 2012 VduaiioTr in 20?3 Valuation in )024 Valiiaiion in ?025 90,000 289.2tH) 12,?00 9,000 20,000 3,000 (23,000) 110,000 292.?00 (10,800) 9.000 400,400 400,400 Folloiving the re-naming and recla55ifIcation of the heritsge asseis in 2024 the above figutEs iYer¢ changed from prior year5 to accurately refleffl the neil- classification. Valuation in 2012 15 at 291021201? Valuation in 2023 is nel change in value up to 2810J7 2023. Valuation in ?024 is Increase/{Decrease) valu¢ in ycar end 291021?0?4. Valuation in 2025 15 IncreaselO)¢creascl in i'mlue in year end 291021202). STOCKS 14. 28.2.2) 29.2.24 Stocks 24,417 ?7,995 15. DEBTORS: A.Niouwrs FALLt¥G DUE II'ITHIN YE.4R 28.2.2) 29.2.24 Trade debtors VAT Prepayments 8,065 3.792 11,416 325 Page 14 continued...
CHASEJAIATER LIGHT RATLWAY & MUSEUM COIMPAN Noies to the Financial Statements- continued for the Year Ended 28 Feb ?02 16. CREDITORS: .4[O[lNTs FALLIliG DLTE WITHLV E4R 28.2.2) 29.2.?4 Trade Creditors Social security and other taxes Pcnsions payable VAT Othcr creditors ACced expenses 4,313 1,408 309 5.996 8,994 14.67) i,44) i59 ?49 8,448 12.726 35,69) 27.427 17. MO1ME1Yr IN FI1%s Net movement in tiin(ts At At 1.3.24 tinre5tricted funds Genera] fund 2.253.733 2.336.016 Re5tritted fund5 A5besios CarriaEe Shed Rool. repair Narroiv Gauge Railway 30,001 8.690 934 2,200 99 30,100 8.690 934 2.200 41.825 99 41,924 TOTAL FIWDS 2.295,5i8 82.382 2.J77,940 N¢t movcment in fynds, included in the aboi'e are as folloivs= Incoffiing resourccs Resources c¥pended Gains and losses Movement in funds Ilnrt5tricted funds Gcneral fund 517,491 (445,708) 10,iOO Rutrieled funds Ask5tos 99 99 TOTAL FUNDS i17.i90 1445,708) 10.500 Page li continucd...
CHASEWATER LT Nolcs to the Financial Statements - continucd f r thc Year Ended 28 Fcb 20? 17. 01MElYT IN FLFNDS - contÈnued Comparatii'es for movement in fund5 Nel moi'emerjt in funds At 29.2.24 At 1.3.2J 1snre5tricted funds General fund 2.240,086 13,647 2,2iJ.733 Restricted fund5 Asbestos Carr&agc Shed Roof repair Narn)ii, Gauge Railwa). 8.690 934 30,001 8.690 934 2.200 39,62) 2200 41.82) TOT.4L Fus 2279,711 15,847 2,?9 j.558 Compw'ativc nel Tnovement in tijnds, included in the above are as follffiv5: Incoming resources Resoure¢s e.Ipended Gains and losses Movemcnt in fvnds Unrestricted funds General thnd 442.115 {i84.128) 144,340) li.647 Restricted fund5 Narroiv Gauge Rallivay 2.200 2,200 TOTAL FIJNDS 444,315 (i84,1 ?8) {44,340) l i,847 A current year 12 months and prior year 12 monihs combincd position is as folloiis: Net Jnov¢ment in funds At 28.2.25 At 1.3.2) Unrestritted funds General fvnd 2.240,086 95,930 2.336,016 Re5trictcd funds AsbE5tos Carriage Shed Roof'repair Narroiv Gauge Railiydy 30.001 8.690 934 99 30.100 8.690 934 2.200 2.200 2,299 41.924 TOTAL FuNs 2.279.711 98.229 2.377.940 Page 16 continued...
CHASE,ATER LIGTrrr RAtLWAY Notes lo tlie Financial Statements- continued for the Year Ende 28 Febi'u 17. MOVEIMEJYt IN FLINDS- continued A curr¢nt )'ear 12 months prior vear 12 Jnonths combined net movefftent in lld5, included in thc above are as folloivs- Tncoming resour¢c5 Resources expcnded Gaiiis aiid losses Movcment in tunds Unrestrif ted fund5 General fund 9)9,606 (829.8J6) 133.840) 95,930 Restricted funds Asbestos Narroiy Gauge Railivay 2.200 99 2.200 2,299 2.299 TOTAL FUNDS 961,905 (829.836) 133,8401 98,229 18. RLLA TED PARTI, DISCLOSLtRES There ivere no related paty transactions for the year ended 28 February 202?. RESTRtCTED FUNDS 19. The following reslricied funds are in place during the NEar: Funds raised for the enginc Asbestos. This money ts to used on the upkeep of this engine only. £)O:100 of this fimd is still in place at the year end. At the year cnd the amount is held in the savings accounL Donaiions I'eceiip cd for the cost of building a aV carriage shed. £8.690 of this fimd 15 Still in place at thc vear entl At the year end the amount is held in thc sai'ings account. Donaiions receii'ed for the cost of roof repatr. £934 of this fvnd is still in place at the year end. At the vear end the anlount is held in the savinDs account. Donations rec¢ived for the narroiv gauge rdilivay. £2,?00 of this fund is Still in placc at ihc year end. Ai the year end the arnount is held in the savings account. DETAILED STA TEMENf OF Fth'AtNCL4L AcfivtiTs 20. A detailed statement of incom¢ and expcnditure ts prepared and made available lo members on folloiiqng pag¢s. Hoiyever. not being part of slatlltory financial staternen they arc not included in public filings as a matter of Company rX)ll wid commercial confidentiatiti,. Noies to expenditure for vear end 28 Februar). ?0? j: Locomotive maintenance includes £22,237 for fvel {coal and diesel).. Rcpairs £16:966 and transportstioij of loconioliiies £2,790 which togeihei. with Stock- moi'ement (fuel) of (£7il) and hire of lo¢omotiTres £4,692 are used to repr¢5ent margina Trdin iunning cost at £45:792 for yle 2812Q025. Repails and General maint¢nancc include Track & Station repairs £193, Workshop consumable5 £11,0 li: Cleaning £i,615, Repairs & Maintenance £72.661, Securitir costs £IO:)?4. General eypenses (pesi control. first aid & minor items) £9.826. Aspect £2,920 le55 the disposal of unrequiled building m&eria15 (£1:708) for y/e 281212025. Page 17
CHASEW'ATER LIGFrr RAILWAY & MUSEUM Detailed Statement of FinatTrcial Aciivities or he Year Ettded 28 February ?0? j 28.2.2) 29.2.24 INCOIME AIND E)0vMENTs Donations and legacies Donation5 Grants 14,765 9.050 i17 14,765 9.567 Other trading activities Subscriptions from Membe Provision of fa¢ilities Rolling stock" storage Infrastruciure access 3.794 i,075 1.840 11,305 2,708 22,014 2,708 Investment ineome Property related r¢ceip Deposit account interest ?8.981 1,981 29.(MO 920 30,962 29,960 Charitable activitie5 Train Operatino Income Shop Income Special Events Income Tea room sales Bric a Brdc 40,001 22,204 117.602 ?64,814 i.228 43.776 91.078 2JO.462 4.622 449,849 402,080 Tot41 inctsmiJTrg resources i17,590 EENDIT1FRK Charitable 4ctivitie5 Rates and ii'ater Insurance Electricity Repair5 & General maintenance SubscrEptions Telephone Sundries Shop Eypenditure Special Ev¢nts E¥penditur¢ Tca Room Expendiwre Stock movem¢nt- Fuel Loco Maintenance Publicity advertising PlanÉ hire Tea room ivages Pension Carried fonward 3,921 14.459 15,327 32,784 00.748 4.488 5.276 1.336 12,690 26.080 78,041 (7il) 41.993 3,708 9)6 12.442 18.934 74.852 (2.8041 120 2.8iO 4.692 96,799 1,725 384.755 1.279 This page docs not fomi part of the staluiot). financial Siatements Page 18
CHASEW ATER LIGHT RAILWAY & MUSEUM Detailed Statement of Fillaneial Activilics foi. th Year En d 28 Febru 28.2.2) 29.2.24 Charitable actii-it1¢5 Brought foni'ard Shop ivages Stock movement - Shop Stock movement - Tea room Train VA T adjusimcnt 384,755 10.904 4.157 172 JJ8,696 10.488 3,081 (670) (14.769) 399.988 336.826 Other L05s on sale of h¢ritag¢ 241 Support costs Ianagement ImproveEnents to pmpety Plant and machinery Computcr equipment Loss on sale of tartgible fixed assets 4.021 5.849 370 4.021 4.947 494 202 10.?40 9,664 Govcrnanct costs Accountancy f¢cs Administrative expenses Bank charges Admin & Fftciliiie5 w'aEes 9.139 3.746 3.225 19,629 4,400 6.818 16,lOtI 37,638 Total rc50urc¢s expcnded 44i.708 J84,128 Net incom¢ 71,882 60.187 This pt]gc does not forni part of the statutory financial sthteinents PaEC 19