Charity registration number NIC100683 (Northem Ireland) Company registration number N1025802 BELFAST AND COUNTY DOWN MINIATURE RAILWAY SOCIETY LTD ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
BELFAST AND COUNTY DOWN MINIATURE RAILWAY SOCIETY LTD LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr D Heattey Mr B Jorkes Mr J Thompson Mr K Vemon MrA Kempston Mr J Mathews Mr C McDonald Mr K Wc¥Jd Mr G Fleming (Appointed 17 March 2024) Secretary Mr D Healley Charity number (Northem Ireland) NIC10Cfj83 Company number N1025802 Principal address 60 Upper Gransha Road Donaghadee BT21 OLZ Registered office Century House 40 crent Business Park Lisbum BT28 2GN Independent examiner GMCG LISBURN Century House 40 Crescent Business Pa 5bum BT28 2GN 8anker5 Danske Bank 77 Main Street Bangor Co. D¢)wn BT20 SAP
BELFAST AND COUNTY DOWN MINIATURE RAILWAY SOCIETY LTD CONTENTS Page Trustees, report Independent examin*s report ststement of ffinancial activities Statement of finanaal posrtion Notes to the finanoal statements 7-13
BELFAST AND COUNTY DOWN MINIATURE RAILWAY SOCIETY LTD TRUSTEES, REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024 The trustees present their annual report and financial statements for the year ended 30 September 2024. The financial statements have been prepared tn aCrdance wtth the acrnunting polic4es set out in note 1 to the financaal statements and comply with the COMpanS Memorandum and A¥tide5 of Associ*ion, the Companies Act 2006 and 'Accourning and Reporting by Charitres: Statement of Recommended Practi applicable to charities preparing their accounts in accordance with the Financaal Reporting Standard appIlble in the UK and Republic of Ireland (FRS 102) (effedive 1 January 2019)". Objectives and activities The societys objeclives are to advan the educat.on of the public in the history and development of railway locomotives and railway vehicles by providing. constructing and operating a seven and a quarter inch gauge passenger carying miniature raiaY with ancillary buildings. The trustees have paid due ward to guidan issued by the Charity Commission in deading what a¢Xivities the company should undertake. Achievements and perfomiance The ra1Y operated during the running season and was very busy on nw)st running days. providing an enjoyable leaming experien for visf(ors and members. rk with the landlord regarding a new lease has been delayed while the Estste of the late Mr John Francis gces through probate. The critical mass of workers active on the stte is relatrvely )nStsnt but there are barety enough actNe members to laCe the amount of work to be done. The raised track for three and a half and fve inth locomotives is marginalty longer than the original track brought from Cultra. It needs regular Maintenan to keep tt in good operab.ng order. The ground level tradt is continuing to undergo a programme of sleeper replacement which will tske a few years to complete. The charity continued to prowde a minialure railway with steam. diesel and elecaric locomotives. ra1Y vehides, an infrastrudure replicating the raiaY environment of a bygone era and preserved our industrial heiitage by maintaining traditional engineering skills and passing these on to a new generation. Families and members experienced tOther things from the past. leaming locomots.ves work, are maintained and built as well as the irnp0rtan of the ralways in the expartsion of the induslrial revolution and our industrial heritage. A wntinuing programme of in-house maintenance and improvement of the running stoth has been undertaken and training provided to members interested in this projecL Parents. children, grandparents, grandchildren and other famity and sooal groups have interacted together and with our'experts. as they discussed the past and the changes seen over the generations. Our members demonstrated how things wor1( and how things a done. These interactions helped build famli y bonds and ¢reate lifelong memories as well as teaching the engineering and Saen of the raihyays and engineering in Northem IreIand. 2024 saw mud) work achieved at Drumavthey by a dedi(xted team of members. Those attendin9 less regukrly see big thanges at eath visit Following an accident on site on the 1 December 2024 the Tntstees are reviewing and updaling the health and safety proc£dures in place. The charrty is also in the process of instslling a new signalling system. There is currently an ongoing daim following this acudent and the tharit$ insurers are handling this on behalf of the d)arity.
BELFAST AND COUNTY DOWN MINIATURE RAILWAY SOCIETY LTD TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Financial review The results for the year are set out in detail on pages PageStsrt.5 to LastNotePage. The company retumed net incoming resources for the year of £1,142 12023 - £5.778 net outgoing resour5), leaving unrestricted fvnds of £107.524 (2023- £1Q5,272) and restri(Xed fvnds of £15.360 {2023- £16.470). unstrIded fvnds are needed: a) to provide fijnds which can be designated to projerts to enable these projects to be undertaken at short noti". and. b) to cover administralion, fvnd-raising and support costs without whith the charity could not function. The dirertots consider rt prudent that unrestricaed reserves should be sufficient to ensure that, in the event of a significant drop in funding, they wll be able to continue the chartvs c3jent activiti.es while consideratton is given to ways in which additional lund$ may be raised. The trustees have assessed the major risks to which the company is exposed and are satisfied that systems are in Pla to mitigate exposure to the major risks. Structure. governance and management The company is governed ty r($ Memorandum and Artides ofAsso¢Iati. The company is not-lor-profit and is limited by guarantee. the liabilty of its members being limtted to £1. The trustees, who are also the directors for the purp)se of company law. and who served during the year were.. Mr D Heatley Mr B Jones Mr J Thompson Mr K Vemon Mr A Kempston Mr H Hamilton Mr J Mathews Mr C McDonald Mr K Wood Mr G Fleming (Resigned 16 Marth 2024) (Appointed 17 Mardj 2024) One third of the Directors must retire at eath AGM. those longest in office retiring first and the choice betsveen any of equal service being made by drwng lots. This report has been prepared in a¢xordance wth the pr¢Jvision apIcable to companies entitted to the small companies exemption. The trustees. report Was approved by the Board of Trustees. Mr B Jones Trustee
BELFAST AND COUNTY DOWN MINIATURE RAILWAY SOCIETY LTD INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BELFAST AND COUNTY DOWN MINIATURE RAILWAY SOCIETY LTD We report on the financial ststements of the C1panY for the year ended 30 September 2024, whith are set out on pages 5 to 13. Respective responsibilities of trustees and examiner As the charity directors you are responsible for the preparation of the accounts in accordan with the requirements of the Companies Act 2c. Having satisfied ourse]ves that the charity is not subject to atwjrt under MpanY law. and is eligible for independent examination. r( is our responsibilty to: examirE the accounts under section 65 ofthe Charibes Act (Northem Ireland) 2W8" follow the prOdureS laid down in the general Diredions given by the Charity Commission for Northem Ireland under sedion 65(9)(bl of the Charrties ACL and state whether particular matters have o)me to our attenlion. Basis of independent examine3 report We have examined your tharity accounts as required under secth)n 65 of the Chafriies Ad and our examination was carried out in accordance with the general Directions given by the Charsty Commission for Northern Ireland under section 65(9llb) of the Charities ACL The examination induded a review of the accounting records kept by the charity and a comparison of the accounts preSentj with those records. It atso includes consideration of any unusual r(ems or disdosures in the amnts, and seeking explanatFons from you as ¢harity trustees nCernIng any suth matters. Our role is to state whether any material matters have come to our attention gNing us use to believe: That accounb.ng records were not kept in accordan wtth seclion 386 of the Companies Act 20t That the accounts do not accord with those accounling records That the aOUnts do not comply with the accounting requirements of section 396 of the Companies Act 20C6 and with the methots and prirriples of the Charibes Ststement of Recommended Practi applicable to tharibes preparing their accounts in aC0)rdan with the Financial Rewting Standard applicable in the UK and Republic of Ireland That there is fvrther infrrnation needed for a proFer understsrffling of the acuntS to be reached.
BELFAST AND COUNTY DOWN MINIATURE RAILWAY SOCIETY LTD INDEPENDENT EXAMINER'S REPORT (CONTINUED) TO THE TRUSTEES OF BELFAST AND COUNTY DOWN MINIATURE RAILWAY SOCIETY LTD Independent examinefs statement We have completed our examination and have no thncems in respect of the matters (1> to {4) listed above and. in connection with following the Directions of the Charity Commission for Northem Ireland. we have found no matters that require drawing to your attention. GMCG LISBURN Century House 40 cresnI Business Park Lisbum BT28 2GN Dated..
BELFAST AND COUNTY DOWN MINIATURE RAILWAY SOCIETY LTD STATEMENT OF FINANCIALACTMTIES INCLUDING INCOME AND EXPENDITUREACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2024 Unrestricted Restricted funds funds 2024 2024 Totsl Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 InGorne from: Donations and legacies Investments 24.809 14 24.809 14 21,282 10 21.282 10 Total income 24,823 24,823 21.292 21,292 Expenditure on: Charitable aCtive$ 22.571 1.110 23,681 25.0 1.110 27,070 Totsl expenditure 22,571 1.110 23,681 25.960 1,110 27,070 Net incomel(expenditure) and movement in funds 2.252 {1.110) 1.142 (4.668} (1,110) (5,778) Reconcilialion of funds: Fund balan8 at 1 Oraober 2023 105.272 16,470 121.742 109.940 17,580 127.520 Fund balances at 30 September 2024 107,524 15.360 122.884 105.272 16.470 121,742 The statement of finan(ial acttvities indudes all gwns and losses recogni%ed in the year. 1 in1Me and expenditure derive from continuing activiti'es. The ststement of financial activrties also comprS with the requirements for an in¢ome and expenditure account under the Companies A¢X 2¢)J6.
BELFAST AND COUNTY DOWN MINIATURE RAILWAY SOCIETY LTD STATEMENT OF FINANCIAL POSITION AS AT 30 SEPTEMBER 2024 2024 2023 Fixed assets Property, plant and equipmenl 100.797 107.670 Current assets Trade and other receivables Cash at bank and in hand 10 3,569 11,583 19.789 Current liabilities 23.197 (1.110) 15.152 (1,080) 11 Net cUrnt assets 22.087 14.072 Total assets less current liabilities 122,884 121,742 Income funds Restrirted funds Unrestricte funds Designated fvnds General unrestricted funds 12 15.360 16,470 13 4.320 103,204 105.272 107.524 105,272 122,884 121,742 The company is entttied to the exemption from the audtt requirement Ints1ned in section 477 of the Companies Acl 2CQ6, for the year ended 30 September 2024. The directors ad(nowledge their resF)onsibilrf(ies for complytng with the requirements of the Companies Ai# 2C(6 with respect to accounting records and the preparation of finarrial ststements. The members have not required the company to obtsin an audit of its finanaal ststements for the year in question in accordance with section 476. These financial statements have been prepared in accordan with the provisions applicable to MpanieS subje to the small companies regime. The financaal statements were approved by the Trustees on . and signed on their Lhaff by. Mr D Heatley Trustee Mr B Jones Compary gistration number N1025802
BELFAST AND COUNTY DOWN MINIATURE RAILWAY SOCIETY LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Accounting policles Charity inforn)ation Belfast and County Down Miniature RaiaY Society Ltd is 8 private MpanY limited by guarantee ineorporated in Northern Ireland. The registered Offi is Century House. 40 CreSnt Business ParK Lisbum, BT28 2GN. The business address is 60 Upper Gransha Road. Donaghadee, BT21 OL 1.1 Accountlng convention The finanoal ststements have been prepared in acojrdano wtth the Companys Memorandum and Athdes of Association, the Companies Act 2006 and "A(xounb"ng and Reporting by Charities.. Statement of Recommended PraCat appltcable to charities pParing their accounts in accordan with the Financial Reporttng Stsndard aprAicable in the UK and Republic of Ireland {FRS 102) (effecive 1 January 2019)" The company is a Public Benefft Entity as defined by FRS 102. The rnpanY has taken advantage of the promgons in the SORP for tharrbes apptying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flthvs. The financial statements are prepared in sterling, whith is the funrtional currency of the company. Monetary amounts in these finanual statements are rounded to the nearest £. The finanaal statements have ten prepared under the historical cost convention. The principal accounting poli¢ies adopted are set out belo4V. 1.2 Going ¢oncern At the time of approving the financial stalements, the trustees have a reasonable expectation that the company has adequate SOurceS to o)ntinue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concem basis ol ae¢ounting in pparIng the financ4al statements. 1.3 Charitsble funds Unrestricted ftjnds are available for use at the disuetion of the trustees in fvrtheran of their tharitable objectives. Restricted fijnds are subject to specific condttions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the finanaal statements. 1A Incoming resources Income is recognised when the o)mpany is legalty entiued to tt after any Performan conditions have been mec the amounts can be measured lÈabty. and it is probable that income wll be receTved. Cash donations are reccgnised on reCpt. Other donatrons are cogniSed once the company has been nobfied of the donation, unless perforynance condrtions require deferral of the amount. Income tsx recoverable in relation to donations received under Gfft or deeds of o)venant is regnised at the time of the donation. 1.5 Resources expended l expendttufe is accounted for on an a¢xruals basis and has been dasstfied under headings that aggregate all costs related to the category. Expendtture is reco9ntsed where there is a legal or constructive obligation to make payments to third parties. rt is probable that the settlement will be required and the amount of the obligation can be measured rdiably. Irrecoverable VAT is tharged as an expense aganst the a¢Xivty for which expenditure arose.
BELFAST AND COUNTY DOWN MINIATURE RAILWAY SOCIETY LTD NOTES TO THE FINANCIAL STATEmErs (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Accounting policies (Continued) 1.6 Property. plant and equipment Property. plant and equipment are initially measured at cost and subsequently measured at cost or valuation. net of depreciats.on and any impaimient losses. Depreciation is CCnised so as to write off the cost or fdluation of assets less their residual values over their useful lives on the followng bases: Freehold land and buildings Plant and equipment 4% straight line 4Qh straight line The gain or ioss arisin9 on the disposal of an asset is detemiined as the differen belween the sale proed$ and Ihe carrying value of the asseL and ts rec))gnised in the stment of finanoal aclivtties. 1.7 Cash and cash equivalents Cash and cash equivalents indude cash in hand. deposrts held at tsll wtth banks, other short-temi tiquid investments with original rnaturitses of three months or less, and bank overdrafts. Bank overdrafts are sh¢Jwn within borrowings in t)Jrrent liabilities. 1.8 Financial instruments The company has elected to apply the provisions of Section 11 'Basic Finanual Instruments. and Section 12 'Other Financial Instnjments Issues, of FRS 102 to all of ts finanryal instruments. Finantial instruments are re(x)gnised in the companys balan sheet when the Company be¢omes paty to the contractual provisims of the instrument. Finanaai assels and Irabilities are offsec with the nel amounts presented in the financial statements, when there is a legally enforceable right to set off ihe recognised amounts and there 1$ an intention to setue on a net basis or to realise the asset and settle the lÈabilty simultaneously. Basic financial assets Basic finanual assets. whith indude trade and other receivables and cash and bank baLOnS. are initially measured at transaction price induding transa¢lion costs and are subsequenty carrted at amortised cost using the effective interest method unless the arrangement constrtutes a finanang transaction, where the transaction is measured at the present value of the fvrture receipts discounted at a market rate of interest. Financial 8S5ets classtfied as rNable within one year are not amortised. Basie financial liabilities Basic finanaal liabilrties, indLKling trade and other payables and bank loans are initially recognised at transadion pri unless the arrangement constiiutes a finanang transaction. where the debt instrument is measured at the present value of the fijture payments disc£unted at a mthet rate of interest. Finana liabilities classified as F49yable within one year are not amortised. Debt instruments are sUbseqUenY carried at amortised o)st. using the effective interest rate method. Trade payables are obligations to pay for g¢)ods or swices that have teen acquired in the ordinary ¢Xsurse of operations from suppliers. Amounts payable are dassrfied as oJrrent liabilities rf payment is due within one year or less. If not. they are presented as nOnrrent liabiltbes. Trade payables are recognised initialty at transathon pri and subs4uenUy SUd at amortised cost using the effective interest method. Derecognition of finan.81 liabilities Financial liabilities are derecognised when the companvs contradual obligations expire or are discharged or cancelled.
BELFAST AND COUNTY DOWN MINIATURE RAILWAY SOCIETY LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Donations and legacies 2024 2023 Donations and gifts 24.809 21,282 Donations and gifts Donations and gifts Member subscriptlons 21,376 3,433 18,305 2,977 24.809 21.282 Income from investrnents Unrestricted Unrestricted lunds funds 2024 2023 Intsrest receivable 14 10
BELFAST AND COUNTY DOWN MINIATURE RAILWAY SOCIETY LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Charitable activities Miniature raiiway 2024 Miniature railway 2023 Depreciation and Impalmnt Rent Insurance Light and heat Postage and stationery Loco parts I fuel Site and building expenses Gardenin9 and site maintenance Advertising Sundry expenses Bank charges and interest Accountancy Shop expenses 6.873 1,750 4,060 1,257 417 1.$49 4,267 7,358 1,749 4,054 1,488 553 7.170 642 470 197 1.2IXI 654 615 640 199 1,110 586 23.681 27,070 23.681 27,070 Analysis by fund Unrestrtcted funds Restricted funds 22,571 1,110 25,960 1,110 23.681 27.070 Description of charitable a¢ttvities The charitys only chantable activty is to advan the educats.on of the putAic in the history and development of raiWy locomotion and railway vehides by providing, construtxing and operating a seven and a quarter inch guage passenger carrying miniature raiay. along with raised track for three and a hatf and five inch locomotives with analiary buildings. None of the trustses (or any persons connected with them) received any remuneration or benefits from the company during the year. Employees There were no employees during the period. Taxation The tharity is exempt from corporation tsx on ivs djaritable activiti'es. 10-
BELFAST AND COUNTY DOWN MINIATURE RAILWAY SOCIETY LTD NOTES TO THE FINANCIAL STATEmErs (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Property> plant and equipment Freehold land and buildings Plant and tquipment Totsi At 1 October 2023 108,283 98,421 2C6.704 At 30 September 2024 108.283 98,421 2[,704 Depreciation and impaiment A11 October 2023 Depreaation charged in the year 53,656 3,554 45,378 3,319 99,034 6.873 At 30 September 2024 57.210 48.697 105.907 Carrying amount At 30 Septemkr 2024 51,073 49.724 100,797 At 30 September 2023 54,627 53,Cfy43 107.670 10 Tde and other receivables Amounts falling due within one year. 2024 2023 prepaentS and ac¢yued income 3.569 11 Current liabilities 2024 2023 Acuuals and defwred income 1.110 1.080 12 Restricted funds The restricted funds of the tharity cJ)mpiise the unexpended balanS of donations and grants held on trust subject to spectfic conditsons by dorS as lo how they may be used. At 1 O¢tober 2023 Resources At30 expended September 2024 DRAP- Nl Rural Development Programme 16,470 11.110) 15.360 11
BELFAST AND COUNTY DOWN MINIATURE RAILWAY SOCIETY LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 12 Restricted funds (Conttnued) Previous year: At 1 October Resources At30 2022 expended September 2023 DRAP- Nl Rur Development Programme 17,580 (1.110) 16,470 DRAP - Nl Rural Development Programme - To provide financial support for the improvement of the stion building and for the proMOn of a toilet blcck on the premises. 13 Unrestricted funds The unTrstricted funds ofthe charity comprise the unexpended balances of donati¢)ns and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These indude designated funds wCh have been set aside out of unrestricted furjds by the trustees for specific purposes. At 1 October Incoming 2023 resources Resources expended Transfers At30 September 2024 Soliiitor costs General fvnds 4.320 (4,320) 105.272 4.320 103,204 24.823 (22,571) 105.272 24,823 (22.571) 107,524 Previous year. At 1 October Incoming Resour¢es 2022 resources expended Transfers At30 September 2023 General funds 109.940 21.292 (25.960) 105,272 The Board agreed to designate £4,320 in the year towards solicitor costs that may be assoriated wtth the ongoing legal daim regarding the accident on site on 1 Dernber 2024. 14 Analysis of net assets betEen funds Unrestricted Restricted funds funds 2024 2024 Total 2024 At 30 September 2024- Propety, plant and equipment Cufrent assetsl{liabiIesj 85.437 22,087 15,360 100.797 22,087 107.524 15.360 122,884 12
BELFAST AND COUNTY DOWN MINIATURE RAILWAY SOCIETY LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 14 Anatysis of net assets betwn funds (Continued) Unrestri¢ted Restricted funds fvnds 2023 2023 Total 2023 At 30 September 2023: Propety, plant and equipment Current assetsl{liabilities) 91.2C(I 14,072 16.470 107.670 14,072 105.272 16.470 121,742 15 Related party transactions There were no disclosable tated party transactions during the year (2023 - none). 13-