**REGISTERED COMPANY NUMBER: 02351482 (England and Wales) REGISTERED CHARITY NUMBER: 702573**
## **Report of the Trustees and**
**Unaudited Financial Statements for the Year Ended 31 March 2022**
## **for**
## **NORTHERN VIADUCT TRUST LIMITED**
John Andrew Chartered Accountants 17-19 Market Street KIRKBY STEPHEN Cumbria CA17 4QS
**NORTHERN VIADUCT TRUST LIMITED**
## **Contents of the Financial Statements for the Year Ended 31 March 2022**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|4|
|**Independent Examiner's Report**||5||
|**Statement of Financial Activities**||6||
|**Balance Sheet**|7|to|8|
|**Notes to the Financial Statements**|9|to|15|
**NORTHERN VIADUCT TRUST LIMITED (REGISTERED NUMBER: 02351482)**
## **Report of the Trustees for the Year Ended 31 March 2022**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and activities**
The principal objective of the charity is to restore and preserve for the public benefit the fine disused railway viaducts at Smardale Gill, Podgill and Merrygill near Kirkby Stephen, Cumbria and other disused listed viaducts and structures of particular beauty or interest.
We aim to preserve and protect the Victorian viaducts of Cumbria's Upper Eden Valley, in so doing promote a wider understanding of the value and benefits of the area's built and cultural heritage and landscape locally and nationally.
## **ACHIEVEMENT AND PERFORMANCE TRUST PRIORITIES**
## **Professionalism & Working Relationships**
The Northern Viaduct Trust has a team of very experienced trustees with a wide variety of skills. The Trust has established, through the hard work of the trustees, its business partners and others with which it has worked, a deserved reputation in delivering successful projects. We have excellent relationships with numerous organisations both national and local (eg Railway Heritage Trust, Yorkshire Dales National Park, Cumbria Wildlife Trust, Westmorland Dales Landscape Partnership, Walkers are Welcome and Encounter Eden) and operate a policy of prudent and sound financial management.
We continue to seek to widen the expertise available to us by identifying new trustees, by seeking professional guidance where appropriate and by partnering with specialist organisations in specific circumstances. We have developed a close and productive working relationship with Encounter Eden, a social enterprise established in early 2017 to bring new life to the economy of south east Cumbria.
## **Diversity & Engagement/Innovation & Heritage**
It is integral to our partnering with Encounter Eden that we make our viaducts more than a historic structure and that they become a means to better identify and explain the heritage of the Trust's assets and to provide an understanding of their role in the broader heritage of the local environment. Our aim is to make our viaducts and permissive footpaths a model of accessibility and inclusion by engaging and working with local communities and wider audience. This will enable us to make a positive contribution to the economic and social life of the local community.
Through the use of high quality, targeted and effective marketing we will be able to offer an improved visitor experience and with outreach to selected urban and disadvantaged catchment areas we will target increased diversity and inclusion. Our partnership with Encounter Eden is focused on the development of open and accessible digital resources to achieve these aims.
## **Environment**
We are committed to sustainable policies and practices with environmental concerns being essential to our decision making. We will ensure that all work carried out by us and on our behalf minimises the impact on the environment
## **Fundraising**
Our successful focus in recent years on generating sufficient income annually to cover our operating costs, through targeted publicity and an improved social media profile, has been complemented by the award of grants for capital works. This has resulted in a higher profile with a wider range of grant funders and we continue to actively develop these relationships.
Page 1
**NORTHERN VIADUCT TRUST LIMITED (REGISTERED NUMBER: 02351482)**
## **Report of the Trustees for the Year Ended 31 March 2022**
## **Plans for the Future**
It is quite clear from the above priorities and from the Atkins Inspection Report, mentioned below, that our objectives can only be achieved over a period of 3-5 years. We are targeting for 2023 completion of the initial renovation work on Smardale Gill Viaduct. Subsequent years will see our focus on the initial establishment and significant expansion of our digital resources, outreach to and involvement of selected urban and disadvantaged catchment areas and the less urgent renovation work to Smardale Gill Viaduct, a woodland management plan and footpath improvements for our Stenkrith - Hartley Trail, which includes Podgill and Merrygill Viaducts.
## **FINANCIAL REVIEW**
## **Financial position**
The results for the year and financial position of the company are as shown in the annexed financial statements.
## **Activities and Performance**
With some relaxation in COVID related restrictions, the trustees were able to meet more often in person during the year to 31 March 2022 and also maintained frequent and regular contact throughout the year via telephone, email and online meetings.
The primary focus of the trustees during the year was the full Inspection Report on Smardale Gill Viaduct by Atkins, a global design, engineering and project-management consultancy: following discussion of the preliminary findings, this Report was signed off by both parties in November 2021. The Report identified a requirement for significant works over the coming years, primarily resurfacing and waterproofing of the deck, remedial works to a number of piers and removal of vegetation. As early indications during the inspection had been that significant remedial work would be required, it was also necessary to appoint a second firm of consulting engineers Ramboll to assist us with analysis of the findings, to act as CMD Adviser/Principal Designer and to undertake with us the tendering process/appointment and oversight of contractors. Both Atkins and Ramboll were appointed after a rigorous competitive tendering process.
As a result of the significant costs associated with this vital work, it was necessary to liquidate some of our investments but this was alleviated by a grant during the 2021-22 year from Pilgrim Trust, to whom we are extremely grateful.
After careful consideration of the findings of the Atkins Report and our funding options and in the light of estimated costs of the various works required, we concluded that the immediate priority is the resurfacing/waterproofing of the viaduct deck. At the time of writing and as a result of our active and continuing funding campaign, we have approval for grants totalling £130,000 and have received donations approaching £40,000 both direct and through our JustGiving campaign.
The trustees continue to work closely with the Cumbria Wildlife Trust and Yorkshire Dales National Park in all areas of common interest.
The trustees are grateful to the local community, visitors to the area and all our supporters for the tremendous support by way of positive feedback and donations.
## **Investment policy and performance**
The Trust operates within the Memorandum and Articles of Association and regularly reviews its investment policy.
## **Reserves policy**
The Trust has a duty to ensure that there are adequate reserves for the maintenance and minor repairs of the structures under its control. The trustees have a programme of frequent monitoring inspections together with a detailed inspection carried out by an independent engineer once every five years. This enables the trustees to ascertain the likelihood of a significant expense in the future. The reserves policy takes these matters into account.
## **Going concern**
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.
Page 2
**NORTHERN VIADUCT TRUST LIMITED (REGISTERED NUMBER: 02351482)**
## **Report of the Trustees for the Year Ended 31 March 2022**
## **FINANCIAL REVIEW Risk management**
The trustees have examined the major strategic business and operational risks which the charity faces and confirm that systems are in place to enable regular reports, in particular reports relating to the structures, to be produced so that the necessary steps can be taken to reduce these risks.
The trustees are conscious of the need to balance carefully the risk/reward ratio of the Trust's investments and regular reviews are undertaken to ensure the suitability of that ratio.
## **FUTURE PLANS**
No formal plans have been drawn up for the acquisition of any further viaducts. The Trust's immediate aim is to maintain and improve its current estate and continue to develop regular and reliable income streams.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
## **Charity constitution**
The charity is constituted under a Memorandum of Association dated 23 February 1989 and is a registered charity, number 702573.
## **Recruitment and appointment of new trustees**
The management of the charity is the responsibility of the trustees who are elected and co-opted under the terms of the Articles of Association.
## **Organisational structure and decision making**
The Northern Viaduct Trust is an independent charity. The trustees hold regular meetings and receive reports regarding for example, current maintenance, finance and investment reviews etc.
## **Induction and training of new trustees**
The charity, through the current trustees, has adequate expertise and resource to enable it to function effectively. However, apart from the situation where a trustee does not stand for re-election or resigns, the trustees are always alert to the possibility of inviting individuals who will bring other skills and experience onto the board of trustees. New trustees are given advice as to their role and and all trustees maintain their skills and knowledge through a variety of informal means.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
02351482 (England and Wales)
## **Registered Charity number**
702573
## **Registered office**
Intake Mallerstang Kirkby Stephen Cumbria CA17 4JX
Page 3
**NORTHERN VIADUCT TRUST LIMITED (REGISTERED NUMBER: 02351482)**
## **Report of the Trustees for the Year Ended 31 March 2022**
## **Trustees**
N J Cleeveley H R Eadon P M Thompson Ms G N Rigg F J Setters
**Company Secretary** H R Eadon
## **Independent Examiner**
John Andrew FCA John Andrew Chartered Accountants 17-19 Market Street KIRKBY STEPHEN Cumbria CA17 4QS
Approved by order of the board of trustees on 22 December 2022 and signed on its behalf by:
H R Eadon - Trustee
Page 4
**Independent Examiner's Report to the Trustees of Northern Viaduct Trust Limited**
## **Independent examiner's report to the trustees of Northern Viaduct Trust Limited ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
John Andrew FCA John Andrew Chartered Accountants 17-19 Market Street KIRKBY STEPHEN Cumbria CA17 4QS
22 December 2022
Page 5
## **NORTHERN VIADUCT TRUST LIMITED**
## **Statement of Financial Activities for the Year Ended 31 March 2022**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**Charitable activities**
Restoration and Preservation
Investment income
2
**Total**
**EXPENDITURE ON**
**Charitable activities**
Restoration and Preservation
Net gains on investments
**NET INCOME**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
£
1,670
-
1
1,671
1,557
-
114
14,651
14,765|Restricted
funds
£
38,661
-
1,793
40,454
20,718
7,870
27,606
977,045
1,004,651|31/3/22
Total
funds
£
40,331
-
1,794
42,125
22,275
7,870
27,720
991,696
1,019,416|31/3/21
Total
funds
£
27,877
14,000
3,450|
|---|---|---|---|---|
|||||45,327|
|||||23,639
34,403|
|||||56,091
935,605|
|||||991,696|
The notes form part of these financial statements
Page 6
**NORTHERN VIADUCT TRUST LIMITED (REGISTERED NUMBER: 02351482)**
## **Balance Sheet 31 March 2022**
|Notes
**FIXED ASSETS**
Tangible assets
7
Investments
8
**CURRENT ASSETS**
Debtors
9
Cash at bank
10
**CREDITORS**
Amounts falling due within one year
11
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
13
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|31/3/22
£
845,949
115,972
961,921
1,693
62,079
63,772
(6,277)
57,495
1,019,416
1,019,416
14,765
1,004,651
1,019,416|31/3/21
£
829,238
139,421
968,659
-
23,537
23,537
(500)
23,037
991,696
991,696
14,651
977,045
991,696|
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 7
**NORTHERN VIADUCT TRUST LIMITED (REGISTERED NUMBER: 02351482)**
## **Balance Sheet - continued 31 March 2022**
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 22 December 2022 and were signed on its behalf by:
H R Eadon - Trustee
N J Cleeveley - Trustee
The notes form part of these financial statements
Page 8
**NORTHERN VIADUCT TRUST LIMITED**
## **Notes to the Financial Statements for the Year Ended 31 March 2022**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
The three historic viaducts and ancillary property are stated at their cost of acquisition of the freeholds, £2 in total plus the cost of initial restoration and of subsequent improvements. No provision is made for depreciation on the grounds that the properties comprise freehold land and structures which are subject to a policy and practice of regular maintenance and repair. They will therefore be kept to the previously assessed (restored) standard. Annual impairment reviews are carried out and a detailed structural survey undertaken every five years by a qualified engineer.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Fixed asset investments**
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless fair value cannot be measured reliabily in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading 'Net gains/(losses) on investments" in the Statement of financial activities incorporating income and expenditure account.
continued...
Page 9
**NORTHERN VIADUCT TRUST LIMITED**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2022**
## **2. INVESTMENT INCOME**
|**INVESTMENT INCOME**||||||
|---|---|---|---|---|---|
||||31/3/22||31/3/21|
||||£||£|
|Other fixed asset invest - FII|||1,793||3,450|
|Deposit account interest||||1|-|
||||1,794||3,450|
|**SUPPORT COSTS**||||||
||||Governance|||
||Management|Finance|costs||Totals|
||£|£|£||£|
|Restoration and Preservation|97|277|1,183||1,557|
|Activity|Basis of allocation|||||
|Management|100% allocated to Restoration|and Preservation||||
|Finance|100% allocated to Restoration|and Preservation||||
|Governance costs|100% allocated to Restoration|and Preservation||||
## **3. SUPPORT COSTS**
Support costs, included in the above, are as follows:
## **Management**
|**Management**|||
|---|---|---|
||31/3/22|31/3/21|
||Restoration||
||and|Total|
||Preservation|activities|
||£|£|
|Telephone|25|-|
|Computer running cost|72|1,499|
||97|1,499|
|**Finance**|||
||31/3/22|31/3/21|
||Restoration||
||and|Total|
||Preservation|activities|
||£|£|
|Bank charges|277|69|
continued...
Page 10
**NORTHERN VIADUCT TRUST LIMITED**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2022**
## **3. SUPPORT COSTS - continued Governance costs**
||31/3/22|31/3/21|
|---|---|---|
||Restoration||
||and|Total|
||Preservation|activities|
||£|£|
|Trustees' expenses|-|36|
|Accountancy and legal fees|1,183|617|
||1,183|653|
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.
## **Trustees' expenses**
||31/3/22||31/3/21|
|---|---|---|---|
||£||£|
|Trustees' expenses||-|36|
## **5. AVERAGE NUMBER OF EMPLOYEES**
The average number of employees during the year was 0 (2021 - 0).
## **6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
7,876
**Charitable activities**
Restoration and Preservation
-
Investment income
-
**Total**
7,876
**EXPENDITURE ON**
**Charitable activities**
Restoration and Preservation
2,221
Net gains on investments
-
**NET INCOME**
5,655
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
8,996|Restricted
funds
£
20,001
14,000
3,450
37,451
21,418
34,403
50,436
926,609|Total
funds
£
27,877
14,000
3,450|
|---|---|---|
|||45,327|
|||23,639
34,403|
|||56,091
935,605|
continued...
Page 11
**NORTHERN VIADUCT TRUST LIMITED**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2022**
## **6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
|**TOTAL FUNDS CARRIED FORWARD**
**7.**
**TANGIBLE FIXED ASSETS**
**COST**
At 1 April 2021
Additions
At 31 March 2022
**NET BOOK VALUE**
At 31 March 2022
At 31 March 2021
**8.**
**FIXED ASSET INVESTMENTS**
**MARKET VALUE**
At 1 April 2021
Disposals
Revaluations
At 31 March 2022
**NET BOOK VALUE**
At 31 March 2022
At 31 March 2021
There were no investment assets outside the UK.
Cost or valuation at 31 March 2022 is represented by:
Valuation in 2021
Valuation in 2022
Cost|Unrestricted
Restricted
Total
fund
funds
funds
£
£
£
14,651
977,045
991,696
Improvements
Freehold
to
property
property
Totals
£
£
£
792,345
36,893
829,238
-
16,711
16,711
792,345
53,604
845,949
792,345
53,604
845,949
792,345
36,893
829,238
Listed
investments
£
139,421
(30,396)
6,947
115,972
115,972
139,421
Listed
investments
£
26,627
6,947
82,398
115,972|Total
funds
£|
|---|---|---|
|||991,696|
continued...
Page 12
**NORTHERN VIADUCT TRUST LIMITED**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2022**
## **9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|VAT
**10.**
**CASH AT BANK**
Current Bank Account
Bank deposit account
Total|General
fund
£
14,952
-
14,952|Restricted
Fund
£
22,830
24,297
47,127|31/3/22
£
1,693
31/3/22
Total
funds
£
37,782
24,297
62,079|31/3/21
£
-
31/3/21
Total
funds
£
23,419
118|
|---|---|---|---|---|
|||||23,537|
## **11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Trade creditors
Accrued expenses
**12.**
**ANALYSIS OF NET ASSETS BETWEEN FUNDS**
Unrestricted
fund
£
Fixed assets
-
Investments
-
Current assets
15,765
Current liabilities
(1,000)
14,765
**13.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**Restricted funds**
Restricted Fund
Smardale Project
**TOTAL FUNDS**|Restricted
funds
£
845,949
115,972
48,007
(5,277)
1,004,651
At 1/4/21
£
14,651
947,045
30,000
977,045
991,696|31/3/22
£
5,277
1,000
6,277
31/3/22
Total
funds
£
845,949
115,972
63,772
(6,277)
1,019,416
Net
movement
in funds
£
114
27,606
-
27,606
27,720||31/3/21
£
-
500
500
31/3/21
Total
funds
£
829,238
139,421
23,537
(500)|
|---|---|---|---|---|
|||||991,696|
||||At
31/3/22
£
14,765
974,651
30,000
1,004,651
1,019,416|At
31/3/22
£
14,765
974,651
30,000|
continued...
Page 13
## **NORTHERN VIADUCT TRUST LIMITED**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2022**
## **13. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|Incoming
resources
£
**Unrestricted funds**
General fund
1,671
**Restricted funds**
Restricted Fund
40,454
**TOTAL FUNDS**
42,125
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**Restricted funds**
Restricted Fund
Smardale Project
**TOTAL FUNDS**|Resources
expended
£
(1,557)
(20,718)
(22,275)
At 1/4/20
£
8,996
926,609
-
926,609
935,605|Gains and
Movement
losses
in funds
£
£
-
114
7,870
27,606
7,870
27,720
Net
movement
At
in funds
31/3/21
£
£
5,655
14,651
20,436
947,045
30,000
30,000
50,436
977,045
56,091
991,696|
|---|---|---|
Comparative net movement in funds, included in the above are as follows:
||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|
||resources|expended|losses|in funds|
||£|£|£|£|
|**Unrestricted funds**|||||
|General fund|7,876|(2,221)|-|5,655|
|**Restricted funds**|||||
|Restricted Fund|7,451|(21,418)|34,403|20,436|
|Smardale Project|30,000|-|-|30,000|
||37,451|(21,418)|34,403|50,436|
|**TOTAL FUNDS**|45,327|(23,639)|34,403|56,091|
continued...
Page 14
**NORTHERN VIADUCT TRUST LIMITED**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2022**
## **13. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Restricted Fund
Smardale Project
**TOTAL FUNDS**|At 1/4/20
£
8,996
926,609
-
926,609
935,605|Net
movement
At
in funds
31/3/22
£
£
5,769
14,765
48,042
974,651
30,000
30,000
78,042
1,004,651
83,811
1,019,416|At
31/3/22
£
14,765
974,651
30,000|
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|
||resources|expended|losses|in funds|
||£|£|£|£|
|**Unrestricted funds**|||||
|General fund|9,547|(3,778)|-|5,769|
|**Restricted funds**|||||
|Restricted Fund|47,905|(42,136)|42,273|48,042|
|Smardale Project|30,000|-|-|30,000|
||77,905|(42,136)|42,273|78,042|
|**TOTAL FUNDS**|87,452|(45,914)|42,273|83,811|
## **14. RELATED PARTY DISCLOSURES**
## **Blencathra Productions Limited**
A company majority owned by Ms Gillian Nanette Rigg, who is a trustee of the charity.
The charity paid for website services. The total amount paid by the charity to Blencathra Productions Limited during the year was £613.44 excluding VAT.
No amounts were owing by or to the charity at the year end in respect of these services.
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