Company registration number NIQ25802 Imorthern Ireland) Charlty registration number NIC100883 (Northem IrÈlandl BELFAST AND COUNTY DOWN MINIATURE RAILWAY SOCIETY LTD ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
BELFAST AND COUNTY DOWN MINIATURE RAILWAY SOCIETY LTD LEGAL AND ADMINISTRATIVE INFORMATION TfLSslees Mr D Heatley Mi B Jones Mr C McDonald Mr K Wood Mr G Fleming S8crètary Mr D Heat1ey Country of incorporation United Kingdom (Northern Ireland) N1025802 Charity Tegistratlon Northèrn Ireland NIC100683 Prlnclpal adtlre$8 4 Steeple Green Antrim Co Antirm BT41 1 BP RegiSted office Century House 40 Crescent Business Park L15burn BT28 2GN Independent examiner GMCG LISBURN Century House 40 Crescent Business Park Lisburn BT28 2GN Bankers Danske Bank 77 Main Street Bangor Co. Down BT20 SAP
BELFAST AND COUNTY DOWN MINIATURE RAILWAY SOCIETY LTD CONTENTS Page Trustees, report Independent examineffs report Stalement of finanoal activities Statement of financial position Notes to the financial statements 7-13
BELFAST AND COUNTY DOWN MINIATURE RAILWAY SOCIETY LTD TRUSTEES. REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025 The trustee5 present their annual report and financial siatem8nts for the year ended 30 September 2025. The financial statements hav8 been prepared in a¢(x>idan¢e with the accounting polve5 set out In note 1 lo the finantial statements and comply with the company's Memorandum and Articles of Associalion, the Companies Act 2006, FRS 102 "The Financial Reporting Slandaid applicable in the UK ancl Republic ol Ire12nd" and the Chaiities SORP 'Accounting and Reporting by Charilies". Statement of Recommended Practice applicable to charities preparing their a¢count5 in accordance with the Financial Reporting Standard apICable in the UK and R¢public Df Ireland IFRS 1021" Objectives and aGtlvitl85 The society's objectives ar8 to advance the education ol the public in the history and development of raiaY locomotives and railway vehicles by providing, constructing 8Nd operating a seven and a quarter inch gauge passenger carrying miniature railway with 8n¢illary buildings. The truste85 have paid due regard to guidance issued by the Charrty Cornmission in deciding what activities the rA)mpany Should undertake. A¢hievements and performan¢e Due to the repercussions of 8n inciclenl on the 1st Deb8r 2024 public running at the railway only operated in a vèry reslrided way while Tnajor changes were undertaken lo the way publ[¢ trains operate. A.new operating system has been designed and implemented including 8 new autotnalic signal systern. A rang8 of new documents were produced and a new training programme put in place. Oefects in rail over river bridge wer8 dlscover8d during 8 schedule inspection and the bridge has been replaced with a culvert. Work with the landlord iegarding a new lease has been continued to be d81ayed while the Estate of the late Mr John Franci8 goe5 through land registry. The critical mass of workers active on th8 site is declining and there are b8rely enough active members to tackle the amount of work to be done The number of volunteers lèould on any given running day has increased in line wth the new H&S Policy. We have also lost a number of members who have passed away over the last year. The charity continues to provide a miniature raiaY with Steam, diesel and electric locornotives, railway vehicles, an infraslruclure repli¢alin9 the railway environment of a bygone era and preseryed our industrial heritage by iinlaining traditional engineering skills and passing these on to 8 new generation. This 15 becoming more and mole important as older members cease to be active. Some of our Trustees have Stepp down recently with the complicated regist18tion requirements with Companies House and we look forward to decting new members at ourAGM. Paients. children, grandp8rent$. grandchildren and other family and social groups have inteiacled together and witb our"8xperts" as they discussed the past and the ¢hange5 seen over the g8neiations. Our members demonstrated how things work and how things are don6. These interactions helped build family bonds and create lifelong fnemorie8 as well as teaching the engineering and s¢ience of the railway5 and engin8ering in Northern Ireland. 2024125 has b&en a very busy year for the raiaY in terrn5 of infrastiucture and planning. Vve hope the following year will bring bad( a mu¢h more interactive season with the general publi¢ as we welcorne them back on sil& on p More regular basis.
BELFAST AND COUNTY DOWN MINIATURE RAILWAY SOCIETY LTD TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Financial review The results for the ye2r are set out In detail on pages 5 to 13. The company returned nel outgoing resources for the year of £4,864 12024 . £1.142 net incorning resources). leaving unrestricted funds of £103.770 12024 £107,524) and restricted funds of £14,250 {2024- £15,360). Unrestricted funds are needed.. 81 to provide funds which can be designated to specific projects to enable these projects to be undertaken at short notice,. and, bl to cover administr81ion. fund-raising and support $ts Wf£hout which the charity could not function. ThÈ directors consider it prudent th8t unrestricted reserves should be SLrfficient lo 8nsure that, in the event of a significant drop in funding. they wll be able to continue the oharity's current activities while consideration is given to ways in which 8dditional funds rnay be raised. The trustees have £8ses5ed the major risks to which the company is exposed and a satisfied that systems are in place lo mitigate exposure to the major risks. Stru¢ture¥ governance and management The company is governed by its Memorandurn and Articjes of Association. The company is not-for-profrt and is lirnited by guarantee, the liability of its rnembers being limited to £1. The trustees, who are also the d1CtOrS for the purpose of company law, and who served during the year were.. Mr D Heatley Mr B Jones Mr'J Thompson r K Vernon MrA Kempston kfjr J Mathews Mr C M¢Don8ld Mr K Wood Mr G Fl8rning (Resigned 30 September 2025) (Resigned 23 November 20251 (Resigned 7 November20251 (Resigned 22 November 20251 One third of the Directors must retire at eaeh AGM, those longest in office retiring first and tt)e choice between any ol equal Servi bèing made by drawing lots. Mr JIM Thompson re&gned from the Board on 30 September 2025 due to ill heahh and subsequentty passed away 19 October 2025. He will be fondly remembered. T.hi5 report has been prepared in accordance wth the provision applicable to companie5 entitled to the small èompanies exemption. The trustees, repo approved by the Board of Trustees. Mr B Jones Trustee Dated..
BELFAST AND COUNTY DOWN MINIATURE RAILWAY SOCIEfY LTD INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BELFAST AND COUNTY DOWN MINIATURE RAILWAY SOCIETY LTD We report on the financlal 8tatements ol the comp8ny for the year ended 30 September 2028. which are set out on pages 5 10 13. Respective rpsponslbllities of trustèes and examiner As the ¢h8rrty directors you are responsible for the preparalion of the accounts in accordanc8 With the requiremenls of the Companies Act 2006. Having satisfied ourselves that th8 charity 15 not subject to audit under cornpany law, and is eligible for independent examination. it is our responsibility to-. examin8 the accounts under section 65 of the Ch81ilies Act INorihern Ireland) 2008., follow the procedures laid down in the general Diredions given by the Ch8rity Commission lor Northem Ireland under Section 6519llbl ol the ChariliesAct, and state whether particular mallers have come lo our attention. Basls of Indèpgnd8nt examiner's report Vwe have examined your charity accounts as required under seclion 65 of the Charities Act and our exarninatr.on was carried out in accordance with the general DIoI10n$ given by the Charity Commission for Northern Ireland under sedion 6519llbl of the Charities Act. The examination included a review of the aOUnting records kept by the charity and 8 comparison of the account5 presented with those records. It also includes consideration of any unusual items or disclosures in the 8ccount$. and seeking explanations from you a5 Charity tru51ees concerning any such matters. Our iole is lo state whether any material matters have come to our attention giving u5 cause to bdieve.. Thal accounting records were not kept in accordance with Section 386 of the Companies Act 20( That the accounts do not accord with those accounting records That the accounts do not comply with the accovnling requirements ol section 396 of the Companies Act 28 and with the methods and principles of the Charities Statement of Recommended Practice applicable to ch8rities preparing their accounts in accordance with the Financial Reporting Standard applicable in th8 UK and Republic of Iland That thore is further infoitnalion needed for a proper undersiandlng of the accounts lo be reached.
BELFAST AND COUNTY DOWN MINIATURE RAILWAY SOCIETY LTD INDEPENDENT EXAMINER'S REPORT ICONTINUEDI TO THE TRUSTEES OF BELFAST AND COUNTY DOWN MINIATURE 1141LWAY SOCIETY LTD Independent examiner's ststement We have completed our èxamination and have no ConMS In spect of the matters (11 to141 listed above and. in connection with following the Directions of the Charity Commission for Northem Ireland, we have found no matters that require drawing to your attention. GfdcG LISBURN Century House 40 Crescent Busines$ Pkrk Lisbum BT28 2GN
BELFAST AND COUNTY DOWN MINIATURE RAILWAY SOCIETY LTD STATEMENT OF FINANCIALACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Unrestricted Restrlcted fund8 funds 2025 2025 Totsl Unrestricted Restricted funds lunds 2024 2024 Total 202S 2024 Note$ Income and endowments from.. Donations and legacies Investments Other income 20.318 17 540 20,318 17 540 24,809 14 24,809 14 Total Income 20,875 20,875 24.823 24,823 Expendilure on: Charitable actNrties 23.681 24.629 1.110 25.739 22.571 1,110 22,571 1,110 23,681 Total expendlture 24.629 25.739 Net incomellexpenditurel and movement in funds 1,142 3,7541 14,8641 2.252 Reconclllation of funds.. Fund balanS 8t 1 October 2024 107,524 15.360 122,884 105.272 16,470 121,742 Fund balances at 30 September 202S 103,770 14.250 118,020 107,524 15,380 122,884 The Staternent ol financial aclNitie5 include5 all gains and 105ses recognised in the year. All incorne and expendiluie derive from continuing activilies. T,Iie Statement ol financial activities a150 cornplies with the rèquirements for an income and expendliure 8ccounl under the Companies Act 2006.
BELFAST AND COUNTY DOWN MINIATURE RAILWAY SOCIETY LTD STATEMENT OF FINANCIAL POSITION ASAT 30 SEPTEMBER 2025 2025 Notes 2024 Fixed assets Property. plant and equipment 10 101,286 100,797 Current assets Trade and othar receivables Cash al bank and in hand 11 2,034 17,039 3,408 19,789 Current liabiliti8S 19,073 (2,3391 12 23,197 Net current a8sets 16.734 22,087 Total assets les$ current Itabilities 118,020 122.884 Income funds Restricted funds nrestriet fun Designated funds General unresiricted funds 13 14,250 15.360 14 4,320 99.450 4.320 103,204 103.770 107,524 118.020 122,884 The company is entitléd to the exemption from the audit reqU1ment contained in section 477 of thè Companies Act 2006. for the year ended 30 September 2025. The director8 acknowledge their responsibilities for complying with the requirèments of the Companies Act 2(K)6 with SpeCt to accounting record8 and the preparation of financial statements. The members have not required the company to obtain an audit of its financial statèments for the year in question in accordan with section 476. These finanoai Statements have been prepared in aco)rclance with the provisions applicable to rx)mpanies subje to the 8mall wmpanies girne. The finanoal statements were approved by thè Trustees on . and signed on their behalf by.. Mr D Heatley TriJ$tee Mr B Jones TNstee Company giStratIon numbèr N1025802
BELFAST AND COUNTY DOWN MINIATURE RAILWAY SOCIETY LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 A¢countlng policies Charlty Information Belfast and County Down Miniatur& Railway Society Ltd 15 a Pfivate company lirnrted by gLJaranlee incorporated In Northern Ireland. The registered office Is Century House, 40 Cfyscenl Business Park. Lisbum, BT28 2GN. The business address is 60 Upper Gransha Road, Dona9hadee. BT21 OLZ. 1.1 Accounting convention The financial statements have been prepared in accordance with the cornpany's Memorandum and Articles of Association the Companies Act 2006 and "Accounting and Reporting by Charilies.. Statement of Recornmended Practice applicable to charities prep8ring their accounts in accordanTr wrth the Financial Reporting Standard 8pplicable in the UK and Republic of Ireland IFRS 1021 leffe¢tive 1 January 20191" The company is a Public Benefit Entity as defined by FRS 102. The ¢otnpany has taken advantage of the provision5 in the SORP for charit18S applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The finanrial statements are prepared in sterling, which 16 the functional currency of the Company. metary amounts in these finan84 stst8ments are rounded lo the nearest £. The financial statements have been pr8pared under the historical cost convention. The principal accounting policies adopted are set out below. 1.7 Going ¢onc8rn At the tiffle of approving the fin8ncral 8tatements, the trustees have 8 reasonable exwctalion that the company has adequate resour$ lo continue in operational 8XlStenc8 for the I0seeable future. Thus the trustees continue to adopt the 90ing concern basis ol accounting in pieparing the financial statements. 1.3 Charitable funds Unrestricted fund8 are available for use at the dis¢r8tion of the trusteès in furtherance ol e1r charitable objectives. Re5tiicted funds are subject to specific conditions by donors or grantors 85 to how they rn8y be us8d. The puipose8 8nd use8 01 the restricted funds are set out in the notes to the financial statements. 1.4 Incoming sOUrGe$ Income is re¢ognised when the company is legally entitled to it 8fter any performance condillons have be8n met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. other donations are recognised once the company has b8eH notified of th8 donation, unless performance wnditions require deferral of the amount. Income tax recoverable In relation lo donations received under Gift Aid or deeds of covenant is re¢ognised at Ihe time of the donation. l.S Rèsources expended All expenditure 1$ accounted for on an accruals basis and has been classified under headings that aggregate all cost5 related to the category. Expenditure is re¢ogni5ed where there is a legal or constructive obligation lo make payments to third parties. it 15 probable that the settlernent will be required and the amourit of the obligation can be measured reliably. Iiiecoverable VAT is charged as an expense against the activity for which expenditure arose.
BELFAST AND COUNTY OOWN MINIATURE RAILWAY SOCIETY LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Accounting policiès (Continued) 1.6 Property. plant and equipmènt Propety, plant and equipment are initially rneasured at cost and subsequently [neasUd al cost or valuation, net of deprècEation and any impairrnenl losses. Depreciation is recognised $0 as to write off the cost or valuation of assets less their residual values over thetr useful liv83 on the following bases.. FF8ehtsld land and buildings Plant and equipment 4Vo straight line 4Yo Straight line The 9ain or loss arising on the disposal of an asset is determined 3$ the diffetsnce belween the sale proceeds and tIEe carying value of the asset, and is recognised in the statement of financial aetivithes. 1.7 Cash and cash equivalonts Cash and cash equivalents include eash in hand, deposit5 held at (xll with banks, other short-term liquid Investments wtth original maturitios Of three months or less. and bank overdrafts. Bank overdrafts 8re Shown within borrowing$ in current liabilities. 1.8 Financial instruments The company has elected to apply the provisions of Section 11 '8asic Finanaal Instruments, and Sectioa 12 'Olher Financial Instruments Issues, of FRS 102 10 sll of its financral instruments. Financ1 instruments arfy recognised in the companls balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities ar8 offset. wlh the net amounts presented in the finanaal statements, when there is 8 legally enftsr¢eable right to set off the recognised arnounts and there is an int8nlion to 8etUe on net ba51$ or lo realise the 8sset and settle the liability simultaneously. Basti¢ financial assets Basic financial a$sets. whieh indude trade and other receivables and cash and bank balances, are initially measured at transaction price including trans8dion costs and are subsequently carried at amortised Go8t U8ing the effective interest method unless the arran9emenl constitute5 a financing transaction, where the transactlon is measured 3t the present value of the future receipts discounted at a market rate of interest. Fin8ncial assets classified as reeeivable within one year are not amortised. Basic linaneial liabilltl¢s Basic finanal liabilities, including trade and other pay8ble$ and bank Joans are initially recognised at transaction price unless the arongement constitutes a financing trans8ction, where the debt instrument IS mEasuTrd al the present value of the future paymen15 discounted at a market rate of intÈrest. Financial liabilities dassified as payable within one year are not amortised. Debt instruments a subsequently c8rried at amorti8ed ¢x)st, using the effe(*ive interest rate method. Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of oper8tions froffl suppliers. Amounts payable aré classified as current liabilities if payrnent is due within one year or less. If not. they are presented as non-¢urrent liabilities. Trade payable8 are recognised initially at transaction price and subseouently measured al amortised cost using the Effective interest method. Dere¢ogni¢ion olfin?ncial liabllities Financial li8bilities arts dere¢ognised when the company's contractual obligations expl or are dis¢h8rged ¢x Canlled.
BELFAST AND COUNTY DOWN MINIATURE RAILWAY SOCIETY LTD NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2025 Donatlons and legacie$ 2025 2024 20,318 24.809 Oonations 8nd gifts Oonations #nd gifts Donations and gifts Member subscriptions 15,995 4,323 21.376 3,433 20,318 24.809 Income from investment$ Unrestricted Unre¥tri¢tsd funds funds 2025 2024 17 14 Interest re1vable other Income Unrestricted Unrestricted funds fund5 2025 2024 540 Other income
BELFAST AND COUNTY DOWN MINIATURE RAILWAY SOCIETY LTD NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2025 Charitablè activiti Mlniature railway 2025 Mlt)iature railway 2024 Depreciation and impairment Rent Insurance Light and heat Postage and station6ry Locts parts I fuel Site and building expenses Gardening and $ite maintenance Advertising Sundry expenses Bank ch8rge8 and inter¢st Aecount8ncy Shop expenses 7.011 1,457 4,096 1,516 6.874 1.750 4,D60 1,256 417 1,549 4,267 345 1,859 5.884 108 698 1.200 245 1,230 429 470 197 1.200 654 25,739 23.681 25,739 23.681 Analysis by fund Unreslricled funds Restricted funds 24,829 22,571 1.110 25.739 23,881 Description of charltable aetivlties Thè charty's only charitable activity Is to advance the education of the public in the history and developrnent of railway locomotion and railw8y vehides by providing, constructing and operating a seven and a quarter inch guage passenger carrying rniniature raivaY, along with raised track for three and a half and five inch locomotives with anallary buildings. Trustees Non@ of the trustees lor any persons conneded with them) ceIVed any remuneration or benefits frorn the company during the year. Employees There We no employees during the periorl. Taxation The charity is exempt from corporation lax on ivs charitable activ.e8. 10
BELFAST AND COUNTY DOWN MINIATURE RAILWAY SOCIETY LTD NOTES TO THE FINANCIAL STATEMENTS ICONTINUED} FOR THE YEAR ENDED 30 SEPTEMBER 2025 10 Property, plant and equipment Freehold land and bulldlrys Plant and equlpment Total Cost At l October 2024 Additions 108,283 3,900 98,421 3.600 206,704 7,500 At 30 September 2025 112,183 102.021 214,204 Depreciation and impairment At 1 October 2024 Depreciation charged in the year 57,210 3.672 48,697 3,339 105.907 7,011 At 30 September 2025 60,882 52.036 112.918 Carrying amount At 30 September 2025 51,301 49.985 101,286 At 30 September 2024 51.073 49,724 100,797 11 Trade and other recelvabl85 2025 2024 Amounts falling due within one year: Prepayments and accrued incorne 2,034 3,408 12 Current liabillties 2025 2024 Acuuals 8lld deferred income 2,339 1,110 13 Restricted funtls The restricted funds of the charity comprise the unexperided balanTrs of donatioris and grants held on trust subject to speafic conditions by donors as to how they may be used. At 1 October 2024 R8$ources expended At30 SeptsmbeT 2025 ORAP - Nl Rural Development Prograrnme 15.360 14.250
BELFAST AND COUNTY DOWN MINIATURE RAILWAY SOCIETY LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 13 Restricted funds Icontinuedl Previous year-. At 1 October 2023 Re$ource$ expended At30 September 2024 DRAP- Nl Rural Development Programm6 16,470 11,110) 15.360 DRAP - Nl Rural Development Programme - To provide finanoal 5UPPOrt for the irrprovement of the station building and forthe provision of a toilet block on the premises. 14 Unrestrlcted funds The unreslrioèd funds of the charhy comprise the unexpended balances of donations and grants which are not subject Its specific conditions by donors and gr8ntors as to how they may be used. These indude designated fund8 which have been set aside out of untsstricted funds by the Iruslees for specific purposes. At 1 October 2024 Incomin9 resources Resourcès expended Transfers At30 September 2025 Solicitor costs General funds 4,320 103,204 20,875 (24,6291 4,320 99,450 107,524 20,875 (24.629) 103,770 Pr&vlous year. At 1 October 2023 Incoming Rèsources rès¢)urce$ gxpended Transfers At30 September 2024 Soli£?tor Costs General funds 105.272 24,823 4,320 14.320) 122,S711 4.320 103.204 105,272 24.823 122.5711 107,524 The Board agreed to ctesignate £4,320 in the year towards solicitor costs that may be associated with thè ongoing legal daim reg8rding the accident on SAle on 1 Dernber2O24. 12-
BELFAST AND COUNTY DOWN MINIATURE RAILWAY SOCIETY LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 15 Analysls of net aSS8ts beeen fund5 Unrestricted fund8 2025 Restrlcted funds 2025 Total 2025 At 30 Septernber 2025: Property, plant 8nd equipment Current asselsllliabilitiesl 87.036 16,734 14.250 101.286 16.734 103.770 14.250 118,020 Unrestrict8d fund5 2024 Restricled funds 2024 Total 2024 At 30 September 2024: Property, plant and equipment Current assetsllliabilitiesl 85,437 22,087 15,380 100.797 22,087 107,524 15,360 122,884 16 R8lat8d paty transa¢tion8 There were no disclosable related party transacbons during the year12024- none). 13