2023-12-31-accounts

519531 Period start date 01/01/2023 To Period end date 31/12/2023 Welsh RailwayTrust Annual accounts for theperiod i~~—_——————— ~~ FOR ENGLAND AND WALES	519531 Period start date 01/01/2023 To Period end date 31/12/2023 Welsh RailwayTrust Annual accounts for theperiod i~~—_——————— ~~ FOR ENGLAND AND WALES	519531 Period start date 01/01/2023 To Period end date 31/12/2023 Welsh RailwayTrust Annual accounts for theperiod i~~—_——————— ~~ FOR ENGLAND AND WALES	519531 Period start date 01/01/2023 To Period end date 31/12/2023 Welsh RailwayTrust Annual accounts for theperiod i~~—_——————— ~~ FOR ENGLAND AND WALES	519531 Period start date 01/01/2023 To Period end date 31/12/2023 Welsh RailwayTrust Annual accounts for theperiod i~~—_——————— ~~ FOR ENGLAND AND WALES	519531 Period start date 01/01/2023 To Period end date 31/12/2023 Welsh RailwayTrust Annual accounts for theperiod i~~—_——————— ~~ FOR ENGLAND AND WALES	519531 Period start date 01/01/2023 To Period end date 31/12/2023 Welsh RailwayTrust Annual accounts for theperiod i~~—_——————— ~~ FOR ENGLAND AND WALES	519531 Period start date 01/01/2023 To Period end date 31/12/2023 Welsh RailwayTrust Annual accounts for theperiod i~~—_——————— ~~ FOR ENGLAND AND WALES	~~ae~~
Section A Statement of financial activities	Section A Statement of financial activities
Recommended categories by activity		Guidance Notes	Unrestricted funds		Restricted income funds	Endowment funds	Total funds	Prior year funds
				£	£	£	£	£
Incoming resources (Note 3)				F01	F02	F03	F04	F05
Income and endowments from:
Donations and legacies		S01		35,148	600,080	-	635,228	237,642
Charitable activities		S02		619	-	-	619	-
Other trading activities		S03		-	-	-	-	-
Investments		S04		676	-	-	676	-
Separate material item of income		S05			-	-	-	-
Other		S06		-	-	-	-	-
Total		S07		36,443	600,080	-	636,523	237,642
Resources expended (Note 6)
Expenditure on:
Raising funds		S08		-	-	-	-	-
Charitable activities		S09		37,772	371,554	-	409,326	144,717
Separate material item of expense		S10		-	-	-	-	-
Other		S11		-	-	-	-	-
Total		S12		37,772	371,554	-	409,326	144,717
Net income/(expenditure) before investment
gains/(losses)		S13	-	1,329 -	228,526	-	227,197	92,925
Net gains/(losses) on investments		S14		-	-	-	-	-
Net income/(expenditure)		S15	-	1,329 -	228,526	-	227,197	92,925
Extraordinary items		S16		-	-	-	-	-
Transfers between funds		S17		-	-	-	-	-
Other recognised gains/(losses):
Gains and losses on revaluation of fixed assets for the charity’s own use	Gains and losses on revaluation of fixed assets for the charity’s own use	S18		-	-	-	-	-
Other gains/(losses)		S19		-	-	-	-	-
Net movement in funds		S20	-	1,329 -	228,526	-	227,197	92,925
Reconciliation of funds:
Total funds brought forward		S21		267,532	8,282	-	275,814	182,889
Total funds carried forward		S22		266,203	236,808	-	503,011	275,814
1

Section B Balance sheet

Fixed assets Intangible assets (Note 15) Tangible assets (Note 14) Heritage assets (Note 16) Investments (Note 17) Total fixed assets Current assets Stocks (Note 18) Debtors (Note 19) Investments (Note 17.4) Cash at bank and in hand (Note 24) Total current assets Creditors: amounts falling due within one year (Note 20) Net current assets/(liabilities) Total assets less current liabilities Creditors: amounts falling due after one year (Note 20) Provisions for liabilities Total net assets or liabilities Funds of the Charity Endowment funds (Note 27) Restricted income funds (Note 27) Unrestricted funds Revaluation reserve Total funds Signed by one or two trustees on behalf of all the trustees	Guidance Notes B01 B02 B03 B04 B05 B06 B07 B08 B09 B10 B11 B12 B13 B14 B15 B16 B17 B18 B19 B20 B21	Unrestricted funds £ F01	Restricted income funds £ F02	Endowment funds Total this year £ £ F03 F04	Endowment funds Total this year £ £ F03 F04	Total last year £ F05
		-	-	-	-	-
		255,610	-	-	255,610	250,610
		-	-	-	-	-
		-	-	-	-	-
		255,610	-	-	255,610	250,610
		-	-	-	-	-
		11,925	-	-	11,925	15,225
		-	-	-	-	-
		13,487	230,194	-	243,681	21,454
		25,412	230,194	-	255,606	36,679
		4,080	-	-	4,080	4,050
		21,332	230,194	-	251,526	32,629
		276,942	230,194	-	507,136	283,239
		4,125	-	-	4,125	7,425
		-	-	-	-	-
		272,817	230,194	-	503,011	275,814
				-	-	-
			230,194		230,194	8,282
		242,719			242,719	237,434
		30,098			30,098	30,098
		272,817	230,194	-	503,011	275,814
		Signature		Print Name		Date of approval dd/mm/yyyy
	R Phillips			R Phillips		23/09/2023

CC17a (Excel)

30/10/2024

2

Section C Notes to the accounts

Note 1 Basis of preparation

This section should be completed by all charities .

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

• • and with* 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.*

• -Tick as appropriate

1.2 Going concern

If there are material uncertainties related to events or conditions that cast significant doubt on the charity's ability to continue as a going concern, please provide the following details or state "Not applicable", if appropriate:

Where accounts are not prepared on a going concern basis, please disclose this fact together with the basis on which the trustees prepared the accounts and the reason why the charity is not regarded as a going concern. Disclosure of any uncertainties that make the going concern assumption doubtful; An explanation as to those factors that support the conclusion that the charity is a going concern;	Not applicable
	Not applicable
	Not applicable

1.3 Change of accounting policy

The accounts present a true and fair view and the accounting policies adopted are those outlined in note { }.

Yes No	✓	* -Tick as appropriate	* -Tick as appropriate
Please disclose	:
(i) the nature of	the chan	ge in accounting policy;	Not applicable
(ii) the reasons provides more r and	why appl eliable an	ying the new accounting policy d more relevant information;	Not applicable
(iii) the amount in the current p the aggregate a periods before t	of the adj eriod, eac mount of hose pre	ustment for each line affected h prior period presented and the adjustment relating to sented, 3.44 FRS 102 SORP.	Not applicable

No changes to a 1.4 Changes t	ccounting estimates have occurred in the reporting period (3.46 FRS 102 SORP). o accounting estimates	ccounting estimates have occurred in the reporting period (3.46 FRS 102 SORP). o accounting estimates	ccounting estimates have occurred in the reporting period (3.46 FRS 102 SORP). o accounting estimates
Yes No	✓	* -Tick as appropriate
Please disclose	:
(i) the nature of	any chan	ges;
(ii) the effect of assets and liabi	the chan lities for t	ge on income and expense or he current period; and
(iii) where pract more future per	icable, th iods.	e effect of the change in one or

1.5 Material prior year errors

No material prior year error have been identified in the reporting period (3.47 FRS 102 SORP).

Yes ✓ * -Tick as appropriate No Please disclose: (i) the nature of the prior period error; (ii) for each prior period presented in the accounts, the amount of the correction for each account line item affected; and

(iii) the amount of the correction at the beginning of the earliest prior period presented in the accounts.

CC17a (Excel)

30/10/2024

3

Section C Notes to the accounts

Note 2 Accounting policies

Please complete this note when first reporting under FRS2102. Section 35 of FRS102, requires 3 reconciliations to be presented, if all are applicable.

2.1 RECONCILIATION WITH PREVIOUS GENERALLY ACCEPTED ACCOUNTING PRACTICE

----- Start of picture text -----
Please provide a description
of the nature of each change
in accounting policy
Reconcilation of funds per previous GAAP to funds determined under FRS 102
Start of End of
period period
£ £
Fund balances as previously
stated
Adjustments:
Fund balance as restated
Reconcilation of net income/(net expenditure) per previous GAAP to net income/(net expenditure) under FRS 102
End of
£
Net income/(expenditure) as previously
stated
Adjustments:
Previous period net income/(expenditure) as
restated
----- End of picture text -----

CC17a (Excel)

30/10/2024

4

Section C Notes to the accounts (cont)

Note 2 Accounting policies

2.2 INCOME

This standard list of accounting policies has been applied by the charity except for those ticked "No" or "N/a". Where a different or additional policy has been adopted then this is detailed in the box below.

Recognition of income Donated services and facilities that are consumed immediately are recognised as income with an equivalent amount recognised as an expense under the appropriate heading in the SOFA. 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 services and facilities Donated services and facilities are included in the SOFA when received at the value of the gift to the charity provided the value of the gift can be measured reliably. Income from interest, royalties and dividends This is included in the accounts when receipt is probable and the amount receivable can be measured reliably. Income from membership subscriptions Membership subscriptions received in the nature of a gift are recognised in Donations and Legacies. Membership subscriptions which gives a member the right to buy services or other benefits are recognised as income earned from the provision of goods and services as income from charitable activities. 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. Donated goods Contractual income and performance related grants 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). This is only included in the SoFA once the charity has provided the related goods or services or met the performance related conditions. Donated goods are measured at fair value (the amount for which the asset could be exchanged) unless impractical to do so. In the case of performance related grants, income must only be recognised to the extent that the charity has provided the specified goods or services as entitlement to the grant only occurs when the performance related conditions are met (5.16 FRS 102 SORP). Legacies Legacies are included in the SOFA when receipt is probable, that is, when there has been grant of probate, the executors have established that there are sufficient assets in the estate and any conditions attached to the legacy are either within the control of the charity or have been met. Government grants The charity has received government grants in the reporting period Tax reclaims on donations and gifts Gift Aid receivable is included in income when there is a valid declaration from the donor. Any 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. Gifts in kind for use by the charity are included in the SoFA as income from donations when receivable. Support costs The charity has incurred expenditure on support costs. Volunteer help 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. The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.	Yes No N/a	Yes No N/a	Yes No N/a
	✓
	Yes No N/a
		✓
	Yes No N/a
	✓
	Yes No N/a
			✓
	Yes No N/a
			✓
	Yes No N/a
		✓
	Yes No N/a
			✓
	Yes No N/a
			✓
	Yes No N/a
			✓
	Yes No N/a
			✓
	Yes No N/a
			✓
	Yes No N/a
			✓
	Yes No N/a
			✓
	Yes No N/a
			✓
	Yes No N/a
			✓
	Yes No N/a
	✓
	Yes No N/a
	✓
	Yes No N/a
	✓
	Yes No N/a
			✓
	Yes No N/a
			✓

2.4 ASSETS Intangible fixed assets Heritage assets 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. Stocks and work in progress Stocks held for sale as part of non-charitable trade are measured at the lower or cost or net realisable value. Goods or services provided as part of a charitable activity are measured at net realisable value based on the service potential provided by items of stock. Work in progress is valued at cost less any foreseeable loss that is likely to occur on the contract. Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, eg allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage. They are valued at cost. Investments Fixed asset investments in quoted shares, traded bonds and similar investments are valued at initially at cost and subsequently at fair value (their market value) at the year end. The same treatment is applied to unlisted investments unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investments held for resale or pending their sale and cash and cash equivalents with a maturity date of less than 1 year are treated as current asset investments Grants with performance conditions Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SoFA once the recipient of the grant has provided the specified service or output. Grants payable without performance conditions Where there are no conditions attaching to the grant that enables the donor charity to realistically avoid the commitment, a liability for the full funding obligation must be recognised. The charity has intangible fixed assets, that is, non-monetary assets that do not have physical substance but are identifiable and are controlled by the charity through custody or legal rights. The amortisation rates and methods used are disclosed in note 9.5 They are valued at cost. 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 depreciation rates and methods used as disclosed in note 9.6.1.4. This includes any realised or unrealised gains or losses on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year. 2.3 EXPENDITURE AND LIABILITIES 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. Investment gains and losses The charity accounts for basic financial instruments on initial recognition as per paragraph 10.7 FRS102 SORP. Subsequent measurement is as per paragraphs 11.17 to 11.19, FRS102 SORP. Tangible fixed assets for use by charity The depreciation rates and methods used are disclosed in note 9.2. Governance and support costs Support costs have been allocated between governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice. Settlement of insurance claims Insurance claims are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS102 SORP) and are included as an item of other income in the SoFA. They are valued at cost. These are capitalised if they can be used for more than one year, and cost at least 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 instruments		Yes No N/a	Yes No N/a	Yes No N/a
				✓
		Yes No N/a
				✓
		Yes No N/a
		✓
		Yes No N/a
		✓
		Yes No N/a
		✓
		Yes No N/a
				✓
		Yes No N/a
				✓
		Yes No N/a
		✓
		Yes No N/a
		✓
		Yes No N/a
		✓
		Yes No N/a
		✓
		Yes No N/a
		✓
		Yes No N/a
		✓
		Yes No N/a
				✓
		Yes No N/a
				✓
		Yes No N/a
			✓
		Yes No N/a
				✓
		Yes No N/a
				✓
		Yes No N/a
				✓
		Yes No N/a
		✓
		Yes No N/a
		✓
		Yes No N/a
		✓
		Yes No N/a
		✓

POLICIES ADOPTED ADDITIONAL TO OR DIFFERENT FROM THOSE ABOVE Current asset investments The charity has has investments which it holds for resale or pending their sale and cash and cash equivalents with a maturity date less than one year. These include cash on deposit and cash equivalents with a maturity date of less than one year held for investment purposes rather than to meet short term cash commitments as they fall due. They are valued at fair value except where they qualify as basic financial instruments.	POLICIES ADOPTED ADDITIONAL TO OR DIFFERENT FROM THOSE ABOVE Current asset investments The charity has has investments which it holds for resale or pending their sale and cash and cash equivalents with a maturity date less than one year. These include cash on deposit and cash equivalents with a maturity date of less than one year held for investment purposes rather than to meet short term cash commitments as they fall due. They are valued at fair value except where they qualify as basic financial instruments.	Yes No N/a	Yes No N/a	Yes No N/a
			✓
		Yes No N/a
				✓

Section C Notes to the accounts (cont)

Note 3 Analysis of income

Other informati TOTAL INCO Other: Other trading activities: Income from investments: Separate material item of income: Donations and legacies: Charitable activities:	Analysis	Unrestricted funds Restricted income funds Endowment funds Total funds Prior year £ £	Unrestricted funds Restricted income funds Endowment funds Total funds Prior year £ £	Unrestricted funds Restricted income funds Endowment funds Total funds Prior year £ £	Unrestricted funds Restricted income funds Endowment funds Total funds Prior year £ £	Unrestricted funds Restricted income funds Endowment funds Total funds Prior year £ £
	Donations andgifts	34,972	137,892	-	172,864	121,907
	Gift Aid	176	-	-	176	6,735
	Legacies	-	462,188	-	462,188	-
	General grants provided by government/other charities	-	-	-	-	-
	Membership subscriptions and sponsorships which are in substance donations	-	-	-	-
	Donatedgoods,facilities and services	-	-	-	-	109,000
	Other	-	-	-	-
	Total	35,148	600,080	-	635,228	237,642
	Shop sales	619	-	-	619	-
		-	-	-	-	-
		-	-	-	-	-
	Other	-	-	-	-	-
	Total	619	-	-	619	-
		-	-	-	-	-
		-	-	-	-	-
		-	-	-	-	-
	Other	-	-	-	-	-
	Total	-	-	-	-	-
	Interest income	676	-	-	676	-
	Dividend income	-	-	-	-	-
	Rental and leasingincome	-	-	-	-	-
	Other		-	-	-	-
	Total	676	-	-	676	-
	Transfer from Celia Kirby	-	-	-	-	-
		-	-	-	-	-
		-	-	-	-	-
		-	-	-	-	-
	Total	-	-	-	-	-
	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 propertyrights	-	-	-	-	-
	Other	-	-	-	-	-
	Total	-	-	-	-	-
	on: ME
		36,443	600,080	-	636,523	237,642
All income in the prior year was unrestricted except for: (please provide description and amounts)
Where any endowment fund is converted into income in the reporting period, please give the reason for the conversion.
Within the income items above the following items are material: (please disclose the nature, amount and any prior year amounts)

CC17a (Excel)

30/10/2024

8

Section C Notes to the accounts (cont)

Note 4 Analysis of receipts of government grants

Government grant 1 Government grant 2 Government grant 3 Other Please provide details of any unfulfilled conditions and other contingencies attaching to grants that have been recognised in income. Please give details of other forms of government assistance from which the charity has directly benefited.	Description	This year Last year £ £	This year Last year £ £
		-	-
		-	-
		-	-
		-	-
	Total	-	-

CC17a (Excel)

30/10/2024

9

Section C Notes to the accounts (cont)

Note 5 Donated goods, facilities and services

Use of property Other Seconded staff		This year Last year £ £	This year Last year £ £
		-	-
		-	-
		-	109,000
		-	109,000
Please provide details of the accounting policy for the recognition and valuation of donated goods, facilities and services.
Please provide details of any unfulfilled conditions and other contingencies attaching to resources from donated goods and services not recognised in income. Please give details of other forms of other donated goods and services not recognised in the accounts, eg contribution of unpaid volunteers.

CC17a (Excel)

30/10/2024

10

Section C Notes to the accounts (cont)

Note 6 Analysis of expenditure

Fudraising agents Operating charity shops TOTAL EXPENDITURE Total other expenditure Incurred seeking grants Grants Investment management costs: Incurred seeking donations Expenditure on charitable activities Repairs Operating a trading company undertaking non-charitable trading activity Investment administration costs Total expenditure on charitable activities Other Other Total expenditure on raising funds Total Sundries BankCharges Separate material item of expense Accountancy fees Advertising, marketing, direct mail and publicity Start up costs incurred in generating new source of future income Rent collection, property repairs and maintenance charges Operating membership schemes and social lotteries Staging fundraising events Database development costs Other trading activities Analysis Portfolio management costs Intellectual property licencing costs Cost of obtaining investment advice Expenditure on raising funds: Incurred seeking legacies	Analysis	Unrestricted funds Restricted income funds Endowment funds Total funds Prior year £ £	Unrestricted funds Restricted income funds Endowment funds Total funds Prior year £ £	Unrestricted funds Restricted income funds Endowment funds Total funds Prior year £ £	Unrestricted funds Restricted income funds Endowment funds Total funds Prior year £ £	Unrestricted funds Restricted income funds Endowment funds Total funds Prior year £ £
	Incurred seeking donations	-	-	-	-	-
	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	-	-	-	-	-
	Other	-	-	-	-	-
	Total expenditure on raising funds	-	-	-	-	-
	Repairs	769	-	-	769	225
	Sundries	1,099	-	-	1,099	370
	Grants	35,000	371,554	-	406,554	143,308
		-	-	-	-	-
	Total expenditure on charitable activities	36,868	371,554	-	408,422	143,903
	Accountancy fees	780	-	-	780	750
		-	-	-	-	-
		-	-	-	-	-
		-	-	-	-	-
	Total	780	-	-	780	750
	BankCharges	124	-	-	124	64
		-	-	-	-	-
		-	-	-	-	-
		-	-	-	-	-
		-	-	-	-	-
	Total other expenditure	124	-	-	124	64
		37,772	371,554	-	409,326	144,717

CC17a (Excel)

30/10/2024

11

Other information:

Analysis of expenditure on charitable activities

Activity or programme	Activities undertaken directly	Grant funding of activities	Support Costs	Total this year	Total prior year
	£	£	£	£	£
Activity1	Haulwen	0	0	0	6000
Activity2	Gwili Railway	100000	0	100000	9438
Activity3	GR Co	265284	0	265284	1000
Activity4	GR Co RU Coach & Dan Do	1219.55	0	1219.55	8580
Activity5	GR Co RU Dan Doproject	0	0	0	110000
Activity6	Dan Do Project	0	0	0	562
Activity7	Gwili Railway	0	0	0	3728
Activity8	HST Transport	0	127.78	127.78	4000
Activity9	Loco Fund	0.55	0	0.55	4000
Activity10	TVR28/Welsh Train	50	50	100
Activity11	Celia Kirby	5000	0	5000
Activity13	RRV Trailerpurchase & Fittings	35000	0	35000
Activity14	LegacyPrinting postage 7 Stationary	0	668.37	668.37
Activity15	Welsh Heritage Rail Service(Window Seals)	0	328.45	328.45
Activity16	Gardiner Invoice Repairs	0	170.42	170.42
Activity17	D Murray (Repairs)	0	92.14	92.14
Activity18	Website Costs	0	89.85	89.85
Activity19	Entertaining/Gifts	0	244	244
Activity20	Subscriptions	0	97	97
Activity21
Total		406554.1	1868.01	408422.11	147308

Prior year expenditure on charitable activities can be analysed as follows:

Within the expenditure items above the following items are material: (please disclose the nature, amount and any prior year amounts)

CC17a (Excel)

30/10/2024

12

Section C Notes to the accounts (cont)

Note 7 Extraordinary items

Please explain the nature of each extraordinary item occurring in the period.

Description	This year Last year £ £	This year Last year £ £
	-	-
	-	-
	-	-
	-	-
	-	-
s	-	-

Extraordinary item 1 Extraordinary item 2 Extraordinary item 3 Extraordinary item 4 Total extrordinary items

CC17a (Excel)

30/10/2024

13

Section C Notes to the accounts

Note 8 Funds received as agent

8.1 Please complete this note if the charity has agreed to administer the funds of another entity as its agent. Note: If a charity is acting as an agent, it should not recognise the income in the Statement of Financial Activities or the Balance Sheet.

		Amount received	Amount received	Amountpaid out	Amountpaid out	Balance held atperiod end	Balance held atperiod end
Description/name of party	Related party (Yes or No)	Thisyear	Lastyear	Thisyear	Lastyear	Thisyear	Lastyear
		£	£	£	£	£	£
		-	-	-	-	-	-
		-	-	-	-	-	-
		-	-	-	-	-	-
		-	-	-	-	-	-
		-	-	-	-	-	-
Total		-	-	-	-	-	-

8.2 Where a consortia or similar arrangement exists whereby 2 or more charities co-operate to achieve economies in the purchase of goods or services, please discose details of any balances outstanding between any participating members.

Description/name of party	Balance held atperiod end	Balance held atperiod end
	Thisyear	Lastyear
	£	£
	-	-
	-	-
	-	-
	-	-
	-	-
Total	-	-

CC17a (Excel)

30/10/2024

14

Section C Notes to the accounts

Note 9 Support Costs

Please complete this note if the charity has analysed its expenses using activity categories and has support costs.

Support cost (examples)	Raising funds £	Activity 1 £	Activity 2 £	Activity 3 £	Grand total £	Basis of allocation
						(Describe method)
Governance	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
Other	-	-	-	-	-
Total	-	-	-	-	-

Please provide details of the accounting policy adopted for the apportionment of costs between activities and any estimation techniques used to calculate their apportionment.

CC17a (Excel)

30/10/2024

15

Section C Notes to the accounts

Note 10 Details of certain items of expenditure

10.1 Fees for examination of the accounts

Please provide 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 £
	120	120
	660	630

CC17a (Excel)

30/10/2024

16

Section C Notes to the accounts (cont)

Note 11 Paid employees

Please complete this note if the charity has any employees.

11.1 Staff Costs

Salaries and wages Social security costs Other employee benefits Total staff costs Pension costs (defined contribution scheme)	This year £	Last year £
	-	-
	-	-
	-	-
	-	-
	-	-

Please provide details of expenditure on staff working for the charity whose contracts are with and are paid by a related party

Please give details of the number of employees whose total employee benefits (excluding employer pension costs) fell within each band of £10,000 from £60,000 upwards. If there are no such transactions, please enter 'true' in the box provided.

No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000

0

Band	Number of employees
£60,000 to £69,999
£70,000 to £79,999
£80,000 to £89,999
£90,000 to £99,999
£100,000 to £109,999

Please provide the total amount paid to

11.2 Average head count in the year

The parts of the charity in which the employees work

	This year Number	Last year Number
Fundraising	-	-
Charitable Activities	-	-
Governance	-	-
Other	-	-
Total	-	-

11.3 Ex-gratia payments to employees and others (excluding trustees) Please complete if an ex-gratia payment is made.

CC17a (Excel)

30/10/2024

17

Please explain the nature of the payment

Please state the legal authority or reason for making the payment

Please state the amount of the payment (or value of any waiver of a right to an asset)

11.4 Redundancy payments

Please complete if any redundancy or termination payment is made in the period.

Total amount of payment

The nature of the payment (cash, asset etc.)

The extent of redundancy funding at the balance sheet date

Please state the accounting policy for any redundancy or termination payments

CC17a (Excel)

30/10/2024

18

Section C Notes to the accounts (cont)

Note 12 Defined contribution pension scheme or defined benefit scheme accounted for as a defined contribution scheme.

12.1 Please complete this note if a defined contribution pension scheme is operated.

Amount of contributions recognised in the SOFA as an expense Please explain the basis for allocating the liability and expense of defined contribution pension scheme between activities and between restricted and unrestricted funds.

12.2 Please complete this section where the charity participates in a defined benefit pension plan but is unable to ascertain its share of the underlying assets and liabilities.

Please confirm that altough the scheme is accounted for as a defined contribution plan, it is a defined benefit plan. Please provide such information as is available about the plan's surplus or deficit and the implications, if any, for the reporting charity

12.3 Please complete this section where the charity participates in a multi-employer defined benefit pension plan that is accounted for as a defined contribution plan.

Describe the extent to which the charity can be liable to the plan for other entities' obligations under the terms and conditions of the multi-employer plan

CC17a (Excel)

30/10/2024

19

Section C Notes to the accounts (cont)

Note 13 Grantmaking

Please complete this note if the charity made any grants or donations which in aggregate form a material part of the charitable activities undertaken.

13.1 Analysis of grants paid (included in cost of charitable activities)

Analysis	Grants to institutions	Grants to individuals	Support costs	Total
			£	£
Haulwen	100000			100,000
Gwili Railway	265284			265,284
GR Co	1219.55			1,220
GR Co RU Coach & Dan Do	0			-
GR Co RU Dan Doproject	0			-
Dan Do Project	0			-
Gwili Railway	0			-
HST Transport	0.55			1
Loco Fund	50			50
TVR28/Welsh Train	5000			5,000
Celia Kirby	35000			35,000
Total	406,554	-	-	406,554

Please enter “Nil” if the charity does not identify and/or allocate support costs.

13.2 Grants made to institutions

13.2 Grants made to institutions	13.2 Grants made to institutions
My charity has made grants to particular institutions that are material in the context of its grantmaking. Details of the institution supported, purpose of the grant and total paid to each institution is available on the charity's web site.		NO	Please provide details of charity's URL.
		No	Provide details below
Names of institution	Purpose		Total amount of grantspaid £
			-
			-
			-
			-
			-
			-
			-
			-
			-
			-
TOTAL GRANTS PAID Other unanalysed grants Total grants to institutions in reporting period			-
			-
			-

CC17a (Excel)

30/10/2024

20

Section C Notes to the accounts (cont)

Note 14 Tangible fixed assets Please complete this note if the charity has any tangible fixed assets

Freehold land & buildings Other land & buildings £ £ At the beginning of the year - - Additions - - Revaluations - - Disposals - - Transfers - - At end of the year - - Basis* SL or RB SL or RB 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 - - 14.4 Impairment Please provide a description of the events and circumstances that led to the recognition or reversal of an impairment loss. 14.3 Net book value 14.2 Depreciation and impairments 14.1 Cost or valuation*	n	n	Plant, machinery and motor vehicles Fixtures, fittings and equipment Total £ £ £ 250,610 - 250,610 5,000 - 5,000 - - - - - - - - - 255,610 - 255,610	Plant, machinery and motor vehicles Fixtures, fittings and equipment Total £ £ £ 250,610 - 250,610 5,000 - 5,000 - - - - - - - - - 255,610 - 255,610	Plant, machinery and motor vehicles Fixtures, fittings and equipment Total £ £ £ 250,610 - 250,610 5,000 - 5,000 - - - - - - - - - 255,610 - 255,610	Plant, machinery and motor vehicles Fixtures, fittings and equipment Total £ £ £ 250,610 - 250,610 5,000 - 5,000 - - - - - - - - - 255,610 - 255,610
	Freehold land & buildings £	Other land & buildings £	Plant, machinery and motor vehicles £	Fixtures, fittings and equipment £	Total £
	-	-	250,610	-	250,610
	-	-	5,000	-	5,000
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	255,610	-	255,610
	d impairments
	SL or RB	SL or RB	RB	RB		Straight Line ("SL") or Reducing Balance ("RB")
			0.0%
			- - - - - - - - - - - - - - - - - - 250,610 - 250,610 255,610 - 255,610
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	250,610	-	250,610
	-	-	255,610	-	255,610

14.5 Revaluation If an accounting policy of revaluation is adopted, please provide: the effective date of the revaluation the name of independent valuer, if applicable the methods applied and significant assumptions the carrying amount that would have been recognised had the assets been carried under the cost model.

14.6 Other disclosures (i) Please state the amount of borrowing costs, if any, capitalised in the construction of tangible fixed assets and the capitalisation rate used. (ii) Please provide the amount of contractual commitments for the acquisition of tangible fixed assets. (iii) Details of the existence and carrying amounts of property, plant and equipment to which the charity has restricted title or that are pledged as security for liabilities.

• The "transfers" row is for movements between fixed asset categories.

• ** Please indicate the method of depreciation by deleting the method not applicable (SL = straight

CC17a (Excel)

30/10/2024

21

Section C Notes to the accounts

Note 15 Intangible assets

Please complete this note if the charity has any intangible assets 15.1 Cost or valuation

Research & development Patents and trademarks Other Total £ £ £ £ At beginning of the year - - - - Additions - - - - Disposals - - - - Revaluations - - - - Transfers - - - - At end of the year - - - - Basis* SL or RB SL or RB SL or RB SL or RB Straight Line ("SL") or Reducing Balance ("RB") Rate At beginning of the year - - - - Disposals - - - - Amortisation - - - - Impairment - - - - Transfers - - - - At end of year - - - - Nat book value at the beginning of the year - - - - Net book value at the end of the year - - - - 15.2 Amortisation and impairments 15.3 Net book value*	Research & development Patents and trademarks Other Total £ £ £ £ At beginning of the year - - - - Additions - - - - Disposals - - - - Revaluations - - - - Transfers - - - - At end of the year - - - - Basis* SL or RB SL or RB SL or RB SL or RB Straight Line ("SL") or Reducing Balance ("RB") Rate At beginning of the year - - - - Disposals - - - - Amortisation - - - - Impairment - - - - Transfers - - - - At end of year - - - - Nat book value at the beginning of the year - - - - Net book value at the end of the year - - - - 15.2 Amortisation and impairments 15.3 Net book value*	Research & development Patents and trademarks Other Total £ £ £ £ At beginning of the year - - - - Additions - - - - Disposals - - - - Revaluations - - - - Transfers - - - - At end of the year - - - - Basis* SL or RB SL or RB SL or RB SL or RB Straight Line ("SL") or Reducing Balance ("RB") Rate At beginning of the year - - - - Disposals - - - - Amortisation - - - - Impairment - - - - Transfers - - - - At end of year - - - - Nat book value at the beginning of the year - - - - Net book value at the end of the year - - - - 15.2 Amortisation and impairments 15.3 Net book value*	Research & development Patents and trademarks Other Total £ £ £ £ At beginning of the year - - - - Additions - - - - Disposals - - - - Revaluations - - - - Transfers - - - - At end of the year - - - - Basis* SL or RB SL or RB SL or RB SL or RB Straight Line ("SL") or Reducing Balance ("RB") Rate At beginning of the year - - - - Disposals - - - - Amortisation - - - - Impairment - - - - Transfers - - - - At end of year - - - - Nat book value at the beginning of the year - - - - Net book value at the end of the year - - - - 15.2 Amortisation and impairments 15.3 Net book value*	Research & development Patents and trademarks Other Total £ £ £ £ At beginning of the year - - - - Additions - - - - Disposals - - - - Revaluations - - - - Transfers - - - - At end of the year - - - - Basis* SL or RB SL or RB SL or RB SL or RB Straight Line ("SL") or Reducing Balance ("RB") Rate At beginning of the year - - - - Disposals - - - - Amortisation - - - - Impairment - - - - Transfers - - - - At end of year - - - - Nat book value at the beginning of the year - - - - Net book value at the end of the year - - - - 15.2 Amortisation and impairments 15.3 Net book value*	Research & development Patents and trademarks Other Total £ £ £ £ At beginning of the year - - - - Additions - - - - Disposals - - - - Revaluations - - - - Transfers - - - - At end of the year - - - - Basis* SL or RB SL or RB SL or RB SL or RB Straight Line ("SL") or Reducing Balance ("RB") Rate At beginning of the year - - - - Disposals - - - - Amortisation - - - - Impairment - - - - Transfers - - - - At end of year - - - - Nat book value at the beginning of the year - - - - Net book value at the end of the year - - - - 15.2 Amortisation and impairments 15.3 Net book value*
	SL or RB	SL or RB	SL or RB	SL or RB	Straight Line ("SL") or Reducing Balance ("RB")
	- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
	-	-	-	-
	-	-	-	-

15.4 Accounting policy Please disclose the accounting policy for intangible fixed assets including:

CC17a (Excel)

30/10/2024

22

Reasons for choosing amortisation rates Policies for the recognition of any capital development

15.5 Impairment

Please provide a description of the events and circumstances that led to the recognition or reversal of an impairment loss.

15.6 Revaluation

If an accounting policy of revaluation is adopted, please provide:

the effective date of the revaluation

the name of independent valuer, if applicable

the methods applied

the carrying amount that would have been recognised had the assets been carried under the cost model.

15.7 Other disclosures

(i) If your intangible asset was acquired by way of grant, provide value on initial recognition and carrying amount of the asset.

(ii) Details of the carrying amounts of any intangible assets to which the charity has restricted title or that are pledged as security for liabilities.

(iii) Please provide the amount of contractual commitments for the acquisition of intangible assets.

(iv) State the amount of research and development expenditure recognised as expenditure in the year.

(vi) Please detail the headings in the SOFA in which a charge for amortisation of intangible assets is included.

(vii) For any material intangible assets, please provide a description, its carrying amount and any remaining amortisation period.

* The "transfers" row is for movements between fixed asset categories.

CC17a (Excel)

30/10/2024

23

** Please indicate the method of depreciation by deleting the method not applicable (SL = straight line; RB = reducing balance). Also please indicate the rate of depreciation: for straight line, what is the anticipated life of the asset (in years); for reducing balance, what is the percentage annual

CC17a (Excel)

30/10/2024

24

Section C Notes to the accounts (cont)

Note 16 Heritage assets

Please complete this note if the charity has heritage assets

16.1 General disclosures for all charities holding heritage assets

(i) Explain the nature and scale of heritage assets held. (ii) Explain the policy for the acquisition, preservation, management and disposal of heritage assets.

16.2 Cost or valuation

At beginning of the year Additions Disposals Revaluations Transfers At end of the year Basis* Rate At beginning of the year Disposals Depreciation Impairment Transfers At end of year Nat book value at the beginning of the year Net book value at the end of the year 16.3 Depreciation and impairments 16.4 Net book value*	Heritage asset 1 £	Heritage asset 2 £	Heritage asset 3 £	Heritage asset 4 £	Total £	Total £
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
						Straight Line ("SL") or Reducing Balance
	- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
	-	-	-	-	-
	-	-	-	-	-

16.5 Impairment

Please provide a description of the events and circumstances that led to the recognition or reversal of an impairment loss.

16.6 Revaluation

If an accounting policy of revaluation is adopted, please provide:

the effective date of the revaluation

the name of independent valuer, if applicable qualifications of independent valuer the methods applied and significant assumptions

any significant limitations on the valuation

CC17a (Excel)

30/10/2024

25

16.7 Analysis of heritage assets by class or group distinguishing those at cost and those at valuation

Carrying amount at the beginning of the period Additions Disposals Depreciation/impairment Revaluation Carrying amount at the end of period	At valuation Group A £	At cost Group B £	Total £
	-	-	-
	-	-	-
	-	-	-
	-	-	-
	-	-	-
	-	-	-

16.8 Heritage assets (where heritage assets are not recoignised on the balance sheet)

(i) Explain the reason why heritage assets have not been recognised on the balance sheet. (ii) Describe the significance and nature of heritage assets. (iii) Disclose information that is helpful in assessing the value of heritage assets. (iv) Explain the reason why it is not practicable to obtain a valuation of heritage assets.

16.9 Five year summary of heritage assets transactions

	2015	2014	2013	2012	2011
	£	£	£	£	£
Purchases Group A Group B Group C Other Donations Group A Group B Group C Other Total additions Charge for impairment Group A Group B Group C Other Total charge for impairment Disposals Group A - carrying amount Group B - carrying amount Group C Other Total disposals
	-	-	-	-	-
	-	-	-	-	-
	-
	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-

CC17a (Excel)

30/10/2024

26

Section C Notes to the accounts (cont)

Note 17 Investment assets

Please complete this note if the charity has any investment assets.

17.1 Fixed assets investments (please provide for each class of investment)

Carrying (fair) value at beginning of period Add:additions to investments during period Less:disposals at carrying value Less: impairments Add: Reversal of impairments Add/(deduct):transfer in/(out) in the period Add/(deduct):*net gain/(loss) on revaluation Carrying (fair) value at end of year	Cash & cash equivalents	Listed investments	Investment properties	Social investments	Other	Total
	-	-	-	-	-	-
	-	-	-	-	-	-
	-	-	-	-	-	-
	-	-	-	-	-	-
	-	-	-	-	-	-
	-	-	-	-	-	-
	-	-	-	-	-	-
	-	-	-	-	-	-

*Please specify additions resulting from acquisitions through business combinations, if any.

Please note that Fair Value in this context is the amount for which an asset could be exchanged between knowlegable and willing parties in an arm's length transaction. For traded securities, the fair value is the value of the security quoted on the London Stock Exchange Daily Official List or equivalent. For other assets where there is no market price on a traded market, it is the trustees' or valuers' best estimate of fair value.

17.2 Please provide a breakdown of investments shown above agreeing with the balance sheet row B04 differentiating between those held at fair value and those held at cost less impairment.

Analysis of investments Cash or cash equivalents Investment properties Listed investments Social investments Grand total (Fair value at year end+Cost less impairment) Other investments Total
	Fair value at year end	Cost less impairment
	£	£
	-	-
	-	-
	-	-
	-	-
	-	-
	-	-

17.3 If your charity holds investment properties, please complete the following note:

(i) Explain the methods and significant assumptions in determining the fair value of investment property held by the charity (ii) Name or independent valuer, if applicable, and relevant qualifications

(iii) Provide details of any restrictions on the ability to realise investment property or on the remittance of income or disposal proceeds (iv) Explain any contractual obligations for the purchase, construction or development of investment property or for repairs, maintenance or enhancements

CC17a (Excel)

30/10/2024

27

17.4 Please provide a breakdown of current asset investments, if applicable, agreeing with the balance sheet.

Analysis of current asset investments Cash or cash equivalents Investment properties Social investments 17.5 Guarantees Listed investments Please provide details and amount of any guarantee made to or on behalf of a third party Name of the entity or entities benefitting from those guarantees Please explain how the guarantee furthers the charity's aims 17.6 Concessionary loans Amount of concessionary loans made (Multiple loans made may be disclosed in aggregate provided that such aggregation does not obsure significant information ). Other investments Total Terms and conditions eg interest rate, security provided Value of any concessionary loans which have been committed but not taken up at the reporting date Amounts payable within 1 year Amount of concessionary loans received (Multiple loans received may be disclosed in aggregate provided that such aggregation does not obsure significant information). For all investments measured at fair value, the basis for determining the value, including any assumptions applied when using a valuation technique. 17.7 Additional information Please provide information about the significance of investments to the charity's financial position or performance eg. terms and conditions of loans or the use of hedging to manage financial risk. Amounts receivable after more than 1 year Amounts payable after more than 1 year Amounts receivable within 1 year Where a charity has provided financial assets as a form of security, the carrying amount of the financial asset pledged as security and the terms and conditions relating to its pledge.		This year	Las	t year	t year
		£		£
		-		-
		-		-
		-		-
		-		-
		-		-
		-		-
		Description		This year £	Last year £
	Total
		Description		This year £	Last year £
	Total

CC17a (Excel)

30/10/2024

28

Section C Notes to the accounts (cont)

Note 18 Stocks

Please complete this note if the charity holds any stock items

18.1 Please state the carrying amount of stock and work in progress analysed between activities.

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	Stock	Stock	Donated goods	Donated goods	Work in progress
	For distribution	For resale	For distribution	For resale
	£	£	£	£	£
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-

18.2 Please specify the carrying amount of any stocks pledged as security for liabilities

CC17a (Excel)

30/10/2024

29

Section C Notes to the accounts (cont)

Note 19 Debtors and prepayments

Please complete this note if the charity has any debtors or prepayments.

Please complete this note if the charity has any debtors or prepayments. Note 19 Debtors and prepayments
19.1 Analysis of debtors Trade debtors Prepayments and accrued income Other debtors	This year £	Last year £
	-	-
	11,925.0	15,255.0
	-	-
	11,925.0	15,255.0

Total

Please complete 19.2 where a material debtor is recoverable more than a year after the reporting date.

19.2 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 £
	-	-
	-	-
	-	-
	-	-
	-	-

CC17a (Excel)

30/10/2024

30

Section C Notes to the accounts (cont)

Note 20 Creditors and accruals

Please complete this note if the charity has any creditors or accruals.

20.1 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 Taxation and social security Other creditors Total	Amounts falling due within oneyear	Amounts falling due within oneyear	Amounts falling due after more than oneyear	Amounts falling due after more than oneyear
	This year £	Last year £	This year £	Last year £
	-	-	-	-
	3,300	3,300	4,125	7,425
	780	750	-	-
	-	-	-	-
	-	-	-	-
	-	-	-	-
	-	-	-	-
	4,080	4,050	4,125	7,425

20.2 Deferred income

Please complete this note if the charity has deferred income.

Please explain the reasons why income is deferred.

Movement in deferred income account Balance at the start of the reporting period Amounts added in current period Amounts released to income from previous periods Balance at the end of the reporting period	This year £	Last year £
	-	-
	-	-
	-	-
	-	-

CC17a (Excel)

30/10/2024

31

Section C Notes to the accounts (cont)

Note 21 Provisions for liabilities and charges

Please complete this note if you have included in charity expenditure any provisions. A provision is made when the charity has a liability of uncertain timing or amount.

21.1 Please provide:

- a brief description of any obligations on the balance sheet and the expected amount and timing of resulting payments; - an indication of the uncertainties about the amount or timing of those outflows; and - the amount of any expected reimbursement, stating the amount of any asset that has been recognised for that expected reimbursement.

21.2 Movements in recognised provisions and funding commitment during the period

Balance at the start of the reporting period Amounts added in current period Amounts charged against the provision in the current period Unused amounts reversed during the period Balance at the end of the reporting period	This year £	Last year £
	-	-
	-	-
	-	-
	-	-
	-	-

21.3 For any funding commitment that is not recognised as a liability or provision, provide details of commitment made, the time frame of that commitment, any performance-related conditions and details of how the commitment will be funded (with contracts for capital expenditure separately identified). 21.4 Where unrestricted funds have been designated to a fund commitment, please disclose the nature of any amounts designated and the likely timing of that expenditure.

CC17a (Excel)

30/10/2024

32

Section C Notes to the accounts (cont)

Note 22 Other disclosures for debtors, creditors and other basic financial instruments

22.1 Please provide information about the significance of financial instruments (eg. debtors, creditors, investments etc) to the charity's financial position or performance, for example, the terms and conditions of loans or the use of hedging to manage financial risk. 22.2 If the charity has provided financial assets as a form of security, the carrying amount of the financial assets pledged as security and the terms and conitions related to its pledge should be given here.

CC17a (Excel)

30/10/2024

33

Section C Notes to the accounts (cont)

Note 23 Contingent liabilities and contingent assets

23.1 Contingent liabilities

Where the charity has contingent liabililities, please complete the following section unless the possibility of their existence is remote.

Description of item including its legal nature. Please describe any security provided in connection to the liability.	Estimate of financial effect

23.2 Contingent assets

Where the charity has contingent assets, please complete the following section when their existence is probable

Description of item Estimate of financial effect

23.4 Other disclosures for contingent assets and/or liabilities Please provide the following information where practicable:

Explain any uncertainties relating to the amount or timing of settlement; and the possibilty of any reimbursement

Where it is not practical to make one or more of these disclosures, please state this fact

CC17a (Excel)

30/10/2024

34

Section C Notes to the accounts (cont)

Note 24 Cash at bank and in hand

Note 24 Cash at bank and in hand
Other Cash at bank and on hand Total Short term cash investments (less than 3 months maturity date) Short term deposits	This year £	Last year £
	-	-
	-	-
	243,681	21,454
	-	-
	243,681	21,454

CC17a (Excel)

30/10/2024

35

Section C Notes to the accounts (cont)

Note 25 Fair value of assets and liabilities

25.1 Please provide 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.

25.2 Please give details of the amount of change in the fair value of basic financial instruments (debtors, creditors, investments (see section 11, FRS 102 SORP)) measured at fair value through the SoFA that is attributable to changes in credit risk.

CC17a (Excel)

30/10/2024

36

Section C Notes to the accounts (cont)

Note 26 Events after the end of the reporting period Please complete this note 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.

Please provide details of the nature of the event

Provide an estimate of the financial effect of the event or a statement that such an estimate cannot be made

CC17a (Excel)

30/10/2024

37

Section C Notes to the accounts (cont) Note 27 Charity funds

27.1 Details of material funds held and movements during the CURRENT reporting period

Please give details of the movements of material individual funds in the reporting period together with a balancing figure for 'Other funds'. The 'Total funds' figure below should reconcile to 'Total funds' in the blanace sheet.

* Key: PE - permanent endowment funds; EE - expendible endowment funds; R - restricted income funds, including special trusts, of the charity; and U - unrestricted funds

Fund names	Type PE, EE **R or UR ***	Purpose and Restrictions	Fund balances brought forward	Income	Expenditure	Transfers	Gains and losses	Fund balances carried forward
Unrestricted funds	U		£ 2,752.89	48,347.63 £	37,614.67 -£	- £	-	13,486
Loco Fund	R		£ 0.55	- £	0.55 -£	- £	-	-
Haulwen	R	Repair of locomotive Haulwen		- £	- £	- £	-	-
Phoenix	R		£ 10,300.00	1,000.00 £	- £	- £	-	11,300
Toad	R	Repair of GWR van	£ 200.00	- £	- £	- £	-	200
TVR28/Welsh Train	R	Restoration of steam locomotive TVR28	£ 5,813.59	1,367.50 £	50.00 -£	- £	-	7,131
HST	R			1,000.00 £	127.78 -£	- £	-	872
DMU	R			- £	- £	- £	-	-
Dan Do	R	Restoration of SVR Austeritylocomotive		105,000.00 £	- £	- £	-	105,000
Shed Extension	R		£ -	- £	- £	- £	-	-
Vintage Carriages	R	Restoration of carriages	£ 886.94	719.08 £	- £	- £	-	1,606
Crane	R			- £	- £	- £	-	-
Celia KirbyFund	R			462,188.30 £	370,284.00 -£	11,904.30 -£	-	80,000
RU Coach	R	Purchase and repair of coach	£ 1,500.00	1,250.00 £	1,219.55 -£	- £	-	1,530
RRV Trailer	R			5,005.00 £	5,000.00 -£	- £	-	5
BA Shed	R	Construction of shed		12,500.00 £	- £	- £	-	12,500
Milk Tanker Restoration	R		£ -	50.00 £	- £	- £	-	50
Abergwili Junction Platform	R		£ -	10,000.00 £	- £	- £	-	10,000
			-				-	-
Other funds	N/a	N/a	-	-	-	-	-	-
Total Funds			21,454	648,428	- 414,297	- 11,904	-	243,681

CC17a (Excel)

30/10/2024

38

Section C Notes to the accounts (cont)

Note 27 Charity funds (cont)

27.2 Details of material funds held and movements during the PREVIOUS reporting period

Please give details of the movements of material individual funds in the reporting period together with a balancing figure for 'Other funds'. The 'Total funds' figure below should reconcile to 'Total funds' in the blanace sheet.

* Key: PE - permanent endowment funds; EE - expendible endowment funds; R - restricted income funds, including special trusts, of the charity; and U - unrestricted funds

funds
Fund names	Type PE, EE **R or UR ***	Purpose and Restrictions	Fund balances brought forward £	Income £	Expenditure £	Transfers £	Gains and losses £	Fund balances carried forward £
Unrestricted funds	U		£17,484.12	1,096.89 £	5,408.74 -£	- £	-	13,172
Loco Fund	R		£ 6,000.00	150.00 £	6,000.00 -£	- £	- £	150
SVR Austerity	R		- £	10,300.00 £	9,437.50 -£	- £	- £	863
Toad	R	Repair of GWR van	200.00 £	- £	- £	- £	- £	200
TVR28/Welsh Train	R	Restoration of steam locomotive TVR28	31.25 £	- £	- £	31.25 -£	- £	-
Welsh Train Project	R		4,598.59 £	1,152.50 £		31.25 £		5,782
Dan Do	R	Restoration of SVR Austeritylocomotive	150.00 £	412.50 £	562.50 -£	- £	- £	-
Shed Extension	R		- £	- £	- £	- £	- £	-
Vintage Carriages	R	Restoration of carriages	4,364.36 £	150.00 £	3,727.50 -£	- £	- £	787
RU Coach	R	Purchase and repair of coach	4,700.00 £	5,380.00 £	9,580.00 -£	- £	- £	500
Other funds	N/a	N/a	-	-	-	-	-	-
Total Funds			37,528	18,642	- 34,716	-	-	21,454

CC17a (Excel)

30/10/2024

39

Section C Notes to the accounts (cont)

Note 27 Charity funds (cont)

27.3 Transfers between funds

	Reason for transfer and where endowment is converted to income, legalpower for its conversion	Amount
Between unrestricted and restricted funds
Between endowment and restricted funds
Between endowment and unrestricted funds

27.4 Designated funds

Planned use Purpose of the designation Amount

CC17a (Excel)

30/10/2024

40

Section C Notes to the accounts (cont)

Note 28 Transactions with trustees and related parties

If the charity has any transactions with related parties (other than the trustee expenses explained in guidance notes) details of such transactions should be provided in this note. If there are no transactions to report, please enter “True” in the box or "False" if there are transactions to report.

28.1 Trustee remuneration and benefits

None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity (True or False)

TRUE

In the period the charity has paid trustees remuneration and benefits. Please give the amount of, and legal authority for, any remuneration or other benefits paid to a trustee by the charity or any institution or company connected with it.

Name of trustee	Legal authority (eg order, governing document)	Amounts paid or benefit value	Amounts paid or benefit value	Amounts paid or benefit value	Amounts paid or benefit value	Amounts paid or benefit value
		This year				Last year
		Remuneration	Pension contribution	Redundancy (including loss of office)/ex gratia	Other	TOTAL
		£	£		£	£

Please give details of why remuneration or other employment benefits were paid.

Where an ex gratia payment has been made to a trustee, provide an explanation of the nature of the payment.

28.2 Trustees' expenses

If the charity has paid trustees expenses for fulfilling their duties, details of such transactions should be provided in this note. If there are no transactions to report, please enter “True” in the box below. If there are transactions to report, please enter "False".

No trustee expenses have been incurred (True or False)		TRUE
Type of expenses reimbursed	This year	Last year
	£	£
Travel
Subsistence
Accommodation
Other (please specify):
TOTAL

Please provide the number of trustees reimbursed for expenses or who had expenses paid by the charity

28.3 Transaction(s) with related parties

Please give details of any transaction undertaken by (or on behalf of) the charity in which a related party has a material interest, including where funds have been held as agent for related parties. If there are no such transactions, please enter 'true' in the box provided.

There have been no related party transactions in the reporting period (True or False)	There have been no related party transactions in the reporting period (True or False)	There have been no related party transactions in the reporting period (True or False)	There have been no related party transactions in the reporting period (True or False)	There have been no related party transactions in the reporting period (True or False)	There have been no related party transactions in the reporting period (True or False)	TRUE	TRUE
Name of the trustee or related party	Relationship to charity	Description of the transaction(s)	Amount	Balance at period end	Provision for bad debts at period end		Amounts written off during reporting period
			£	£	£		£

CC17a (Excel)

30/10/2024

41

In relation to the transactions above, please provide the terms and conditions, including any security and the nature of any payment (consideration) to be provided in settlement. For any related party, please provide details of any guarantees given or received.

CC17a (Excel)

30/10/2024

42

Section C Notes to the accounts (cont)

Note 29 Additional Disclosures

The following are significant matters which are not covered in other notes and need to be included to provide a proper understanding of the accounts. If there is insufficient room here, please add a separate sheet.

CC17a (Excel)

30/10/2024

43

4

ay Independent examiner's report on the a accounts

Section A Independent Examiner’s Report

----- Start of picture text -----
Report to the trustees/ | ©o7"'y Neve
members of | Welsh Railway Trust
On accounts for the year | 31/12/2023
ended
----- End of picture text -----

----- Start of picture text -----
Charity no | 519531
(if any)
----- End of picture text -----

• Respective The charity's trustees are responsible for the preparation of the accounts.

• responsibilities of The charity’s trustees consider that an audit is not required for this year

• trustees and examiner under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility to: e examine the accounts under section 145 of the Charities Act, e to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and

• e to state whether particular matters have come to my attention.

• Basis of independent My examination was carried out in accordance with general Directions given examiner’s statement by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

• Independent !n connection with my examination, no matter has come to my attention

• examiner's statement (other than that disclosed below *) 1. which gives me reasonable cause to believe that in, any material respect, the requirements: e to keep accounting records in accordance with section 130 of the Charities Act: and

• e to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act

• have not been met; or

• 1. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
• • Please delete the words in the brackets if they do not apply.

----- Start of picture text -----
=
Relevant professional |FCCA/CTA
qualification(s) or body
(if any):
----- End of picture text -----

IER

1

March 2012

Address: | 12 STATION TERRACE

LLANYBYDDER

CARMARTHENSHIRE SA40 9XX

Section B

Disclosure

Only complete if the examiner needs to highlight material problems.

Give here brief details of any items that the examiner wishes to disclose.

IER

2

March 2012

WELSH RAILWAY TRUST YMDDIRIEDOLAETH RHEILFFYRDD CYMRU

TRUSTEES ANNUAL REPORT 2023

This report was agreed by the Board of Trustees at their meeting on 23 September 2023.

1. OBJECTIVES AND ACTIVITIES

The charitable objects as set out in the charity’s governing document are:

To advance the education of the public in the history and development of railway locomotion by the preservation and maintenance in working order of historic railway equipment.

The main activities undertaken by the charity during the reporting period were:

• Ongoing restoration of historic steam locomotive Haulwen,

• Acquisition of 2 Road Rail Vehicle (RRV) trailers,

• Raising funds for the restoration of Taff Vale Railway locomotive 28 and continuing restoration work,

• Raising funds for the purchase and repair of a British Railway Restaurant Coach,

• The restoration of 2 Victorian railway carriages,

• Distribution of grants for various projects, Raising funds for other development work at Abergwili Junction station.

• Raising funds for and starting construction of a storage shed and display facility for the Welsh Railway Trust’s collection of historic rolling stock, and

• Development of an investment policy.

The restoration of the two Victorian carriages will give the public the opportunity to experience genuine Victorian railway travel in south west Wales and provide an invaluable educational resource for schools.

The development of the storage and display facility (Dan Do Project) in conjunction with the Gwili Railway Company Ltd will provide undercover storage for some of the Welsh Railway Trust’s historic rolling stock which is currently stored in less than ideal conditions outdoors. This will be a major step in conserving these items for the long-term helping to safeguard the items in the care of the Welsh Railway Trust. The facility will also allow for visitors to view the historic rolling stock and for it to be properly interpreted for educational purposes.

Following receipt of a substantial legacy, the WRT was able to fund a number of projects within its charitable aims and developed a policy for investments.

The Trustees are mindful of their responsibilities under charity law and grants are made only:

• a) In respect of repair, maintenance, restoration or good stewardship of items in the care of the Welsh Railway Trust;

• b) For facilities, items and projects which further the aims of the Welsh Railway Trust. This may include expenditure on items not in the care of the Welsh Railway Trust where a clear benefit to the Trust or furtherance of its objectives can be shown.

• c) The Trustees may impose conditions on the award of a grant to ensure that the benefits conferred are in line with the charitable objects.

The role of volunteers is central to the work of the Welsh Railway Trust. All trustees and officers carry out their duties in a voluntary capacity, and Welsh Railway Trust projects are volunteer led. The aim of the Welsh Railway Trust is to support volunteers in furthering the Welsh Railway Trust’s objectives, provide support, training, facilities, equipment and motivation to enable volunteers to fully participate in the Welsh Railway Trust’s work.

The trustees have had regard to the Charity Commission’s guidance on public benefit during their deliberations.

2. ACHIEVEMENTS AND PERFORMANCE

The Welsh Railway Trust was successful in raising over £500,000 in support of the various projects outlined in Section 1. This has enabled substantial progress to be made on a number of projects including;

• The restoration of steam locomotive Haulwen

• The restoration of 2 Victorian carriages

• The restoration of 2 historic British Railway Restaurant coaches

• The repair of the Ford diesel locomotive

• The purchase of a Road Railer vehicle and trailers

• Construction of the storage and display facility at Abergwili Junction (Dan Do Project), provision of services to Abergwili Junction and a new platform to improve accessibility

Progress was made in fundraising and preparation for the restoration of steam locomotive Taff Vale Railway No 28 including dismantling the locomotive, fundraising and publicity for the project. The stripping down of the locomotive prior to restoration has now begun.

The new storage shed at Abergwili Junction was substantially completed during the year and requires only finishing and tracks laid so that it can be used to securely store and display historic rolling stock.

3. FINANCIAL REVIEW

The year was financial successfully with a number of regular small donations, a number of significant donations via the Charities Aid Foundation and a substantial legacy. The full financial statements are attached.

4. PLANS FOR FUTURE PERIODS

The Welsh Railway Trust will continue with a number of projects including the restoration of the locomotives Haulwen, 28 and the Ford locomotive, vintage carriages 216 and 220, raising funds for the repair of a British Railway Restaurant Coach, a British Railways corridor coach, raising funds for and construction of a storage shed and display facility for the Welsh Railway Trust’s collection of historic rolling stock, further developments at Abergwili Junction and a number of smaller projects in the next year.

In the longer term the Welsh Railway Trust intends to embark on a number of projects for which fundraising has already begun including the restoration of the HST power car and the British Railways Diesel Railcar as well as additional storage and display facilities at Abergwili Junction.

The Welsh railway Trust will also continue to work to acquire other locomotives, rolling stock and other items which further the aims and objectives of the charity.

5. STRUCTURE, GOVERNANCE AND MANAGEMENT

The Welsh Railway Trust is a charitable company, registered both as a Charity (Number 519531) and Company Limited by Guarantee (Number 01204259) and is governed by a Memorandum and Articles of Association incorporated 19[th] March 1975 amended by special resolution 5 November 1987 as amended on 31 March 2021.

The Welsh Railway Trust was formerly known as the Caerphilly Railway Society Ltd. In 2021 the Gwili Vintage Carriage Group, another charity with similar objectives transferred its assets to and merged with the Welsh Railway Trust. The trustees of the Gwili Vintage Carriage Group were co-opted to the board of trustees of the Welsh Railway Trust.

While the Welsh Railway Trust is a standalone organisation, it works in close co-operation with the Gwili Railway Preservation Society and Gwili Railway Company Ltd (a not-for dividend company) to promote the Welsh Railway Trust’s objectives, specifically on the Gwili Railway.

The Welsh Railway Trust is not a membership organsation and trustees are appointed either;

• By invitation by the exiting trustees (having regard for representation from supporters and volunteers of the former Caerphilly Railway Society, Gwili Vintage Carriage Group, Brynteg Railway Group, Swansea Vale Railway Society and specialist knowledge, skills or expertise which could assist the Welsh Railway Trust in pursuit of its objectives), or

• 1 member may be nominated by the committee of the Gwili Railway Preservation Society and 1 by the board of the Gwili Railway Company Ltd in accordance with the Memorandum of Understanding signed between the Welsh Railway Trust, Gwili Railway Preservation Society and the Gwili Railway Company Ltd on 6 August 2022)

6. REFERENCE AND ADMINISTRATIVE DETAILS

The registered name of the charity is the Welsh Railway Trust Ltd. The charity is also known by its Welsh equivalent Ymddiriedolaeth Rheilffyrdd Cymru

The charity is registered in England and Wales (Charity number 519531 and Company number 01204259) and is recognised by HMRC for Gift Aid purposes.

The principal and registered office of the Welsh Railway Trust is:

Gwili Railway Co Bronwydd Arms Railway Station, Bronwydd Arms, CARMARTHEN, SA33 6HT

The trustees at 31 December 2023 were:

• Revd Dr Ian David Morris

• Anthony Smith

• Dewi Thomas Jones

• David Crudge

• Mathew Issac Bowen

• Robert Phillips

• James William Kemmis Buckley

There are no corporate trustees.

No trustee for the charity held title to any property belonging to the charity on the date that the report as approved or at any time during the reporting period.

7. EXEMPTIONS FROM DISCLOSURE

There are no exemptions from disclosure.

8. FUNDS HELD AS CUSTODIAN TRUSTEE ON BEHALF OF OTHERS

Neither the charity or any of its trustees are acting as custodian trustees.