IRIS Accounts Production v23.3.0.418 Other Company accounts True false Pounds 1.2.22 31.1.23 31.1.23 FY FRS 102 Independent examiner Large and medium-sized companies regime for accounts Full Charities SORP true true true false true true true false true false false 0 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure021290192022-01-31021290192023-01-31021290192022-02-012023-01-31021290192021-01-31021290192021-02-012022-01-31021290192022-01-3102129019ns22:CharitableCompanyLimitedByGuarantee2022-02-012023-01-3102129019ns15:PoundSterling2022-02-012023-01-3102129019ns11:FRS1022022-02-012023-01-3102129019ns11:IndependentExaminationCharity2022-02-012023-01-3102129019ns11:LargeMedium-sizedCompaniesRegimeForAccounts2022-02-012023-01-3102129019ns11:FullAccounts2022-02-012023-01-3102129019ns11:CharitiesSORP2022-02-012023-01-310212901922022-02-012023-01-3102129019ns16:EnglandWales2022-02-012023-01-3102129019ns11:RegisteredOffice2022-02-012023-01-3102129019ns22:Trustee12022-02-012023-01-3102129019ns22:Trustee22022-02-012023-01-3102129019ns22:Trustee32022-02-012023-01-3102129019ns22:Trustee42022-02-012023-01-3102129019ns22:Trustee52022-02-012023-01-3102129019ns22:Trustee62022-02-012023-01-3102129019ns22:Trustee72022-02-012023-01-3102129019ns22:Trustee82022-02-012023-01-3102129019ns22:Trustee92022-02-012023-01-3102129019ns22:TotalUnrestrictedFunds2022-02-012023-01-3102129019ns22:TotalRestrictedIncomeFunds2022-02-012023-01-3102129019ns22:Activity82022-02-012023-01-3102129019ns22:TotalUnrestrictedFundsns22:Activity82022-02-012023-01-3102129019ns22:Activity8ns22:TotalRestrictedIncomeFunds2022-02-012023-01-3102129019ns22:Activity82021-02-012022-01-3102129019ns22:TotalUnrestrictedFunds2022-01-3102129019ns22:TotalRestrictedIncomeFunds2022-01-3102129019ns22:TotalUnrestrictedFunds2023-01-3102129019ns22:TotalRestrictedIncomeFunds2023-01-3102129019ns22:TotalUnrestrictedFundsns6:WithinOneYear2023-01-3102129019ns22:TotalRestrictedIncomeFundsns6:WithinOneYear2023-01-3102129019ns6:WithinOneYear2023-01-3102129019ns6:WithinOneYear2022-01-3102129019ns6:AfterOneYearns22:TotalUnrestrictedFunds2023-01-3102129019ns6:AfterOneYearns22:TotalRestrictedIncomeFunds2023-01-3102129019ns6:AfterOneYear2023-01-3102129019ns6:AfterOneYear2022-01-310212901922022-02-012023-01-310212901932022-02-012023-01-3102129019ns6:OwnedAssets2022-02-012023-01-3102129019ns6:OwnedAssets2021-02-012022-01-3102129019ns22:TotalUnrestrictedFunds2021-02-012022-01-3102129019ns22:TotalRestrictedIncomeFunds2021-02-012022-01-3102129019ns22:TotalUnrestrictedFundsns22:Activity82021-02-012022-01-3102129019ns22:Activity8ns22:TotalRestrictedIncomeFunds2021-02-012022-01-3102129019ns6:PlantMachinery2022-01-3102129019ns6:ComputerEquipment2022-01-3102129019ns6:PlantMachinery2022-02-012023-01-3102129019ns6:ComputerEquipment2022-02-012023-01-3102129019ns6:PlantMachinery2023-01-3102129019ns6:ComputerEquipment2023-01-3102129019ns6:PlantMachinery2022-01-3102129019ns6:ComputerEquipment2022-01-3102129019ns6:CostValuation2022-01-3102129019ns6:Subsidiary12022-02-012023-01-31021290191ns6:Subsidiary12022-02-012023-01-3102129019ns6:Subsidiary12023-01-3102129019ns6:Subsidiary12022-01-3102129019ns6:Subsidiary12021-02-012022-01-3102129019ns6:WithinOneYear2021-01-3102129019ns6:BetweenOneTwoYears2023-01-3102129019ns6:BetweenOneTwoYears2022-01-3102129019ns6:BetweenTwoFiveYears2023-01-3102129019ns6:BetweenTwoFiveYears2022-01-3102129019ns6:BetweenOneFiveYears2023-01-3102129019ns6:BetweenOneFiveYears2022-01-3102129019ns6:AllPeriods2023-01-3102129019ns6:AllPeriods2022-01-31
REGISTERED COMPANY NUMBER: 02129019 (England and Wales)
REGISTERED CHARITY NUMBER: 1039493














Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 January 2023

for

The Tunbridge Wells & Eridge Railway
Preservation Society Limited

The Tunbridge Wells & Eridge Railway
Preservation Society Limited






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Report of the Trustees 1 to 3

Independent Examiner's Report 4 to 5

Statement of Financial Activities 6

Balance Sheet 7 to 8

Notes to the Financial Statements 9 to 24

The Tunbridge Wells & Eridge Railway
Preservation Society Limited (Registered number: 02129019)

Report of the Trustees
for the Year Ended 31 January 2023


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 January 2023. 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 aims
The principal objective of the company is to advance the education and preserve for the public good, the railway line between Tunbridge Wells and Eridge, its rolling stock, buildings and ancillary artefacts of historical interest.

ACHIEVEMENT AND PERFORMANCE
The Society's biggest asset is its approximate 85% share investment in the operating company, a position it was able to maintain and strengthen during 2022. This investment is key to fulfilling the principal objective of the society to preserve the railway line between Tunbridge Wells and Eridge, its rolling stock, building and artefacts of historic interest. The volunteers of the society provide the majority of the workforce of the operating company from the leadership team to the entire operations and commercial teams, and the training and support of these volunteers is another key objective of the society

The 2022 season saw a return of a number of events and activities following the Covid-19 pandemic. Our team of volunteers and the management teams of the Society and Operating Company continued to steer both the society and railway through the challenges, and to ensure the railway was in the best position to offer an enjoyable and educational day out for our visitors. In the background, teams have continued with virtual meetings which have proved to be productive and value volunteers time more than face to face meetings.

The society supported the operating company in the operation of its second season of Polar Express services which carried in excess of 30,000 visitors during November and December. All parts of the railway really pulled together to recover from severe weather elated issues reducing the loss of services to a couple of days. This event is not only a great commercial success, but also provides seasonal employment and development opportunities, particularly to younger members of the railway and the local community.

FINANCIAL REVIEW
Reserves policy
The members have established a policy whereby the reserves of the charity are maintained to enable the society to continue to meet its objectives now and in the future.

The total incoming resources of the charity during the year amounted to £98,245 (2022: £422,178). This decrease was due to decreased legacies received this year. The net surplus for the year amounted to £16,844 (2022: £276,249). The major source of funding remains donations and legacies. The trustees acknowledge the continuing support given by volunteer labour, without which the railway would not be able to operate.


The Tunbridge Wells & Eridge Railway
Preservation Society Limited (Registered number: 02129019)

Report of the Trustees
for the Year Ended 31 January 2023

FUTURE PLANS
The Society and the Operating company are further considering options for the future development and improvement of the Tunbridge Wells West station site, and are also making plans to refurbish or replace several strategic trackside assets. The Groombridge Old Station sub lease was renewed in October 2023 for a further 4 remaining years by the Society.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Tunbridge Wells & Eridge Railway Preservation Society is a company limited by guarantee, governed by its memorandum and articles of association as adopted on incorporation on 7 May 1987.

Recruitment and appointment of new trustees
The Board of Trustees may at any time appoint any member of the Society as a member of the Board. The Board of Trustees shall be comprised of not less than four members up to a maximum of sixteen members.

Organisational structure
This was changed in 2020, and there are now separate meetings for Trustees and the Leadership Team of the railway, with a joint Trustee Leadership meeting quarterly. There is also a joint Finance sub-committee, to advise and make recommendations on financial strategy to both companies. In addition, the Trustees and Leadership team have nominated observers at each other's meeting.

MEMBERSHIP
This has remained stable. Post January 2023, the Trustees have commenced evaluating replacement of the membership system.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
02129019 (England and Wales)

Registered Charity number
1039493

Registered office
West Station
Nevill Terrace
Tunbridge Wells
Kent
TN2 5QY

Trustees
Mr J S Nye London Underground manager
Mr C R S MacRae Transport professional (resigned 5/3/2022)
Mr M L Dives Project manager
Mr C Bower Internal auditor (resigned 15/6/2023)
Mr D C Cross Accountant
Mr B L Halford Retired railwayman (resigned 4/3/2023)
Mr S R Owens Apprentice (resigned 9/8/2022)
Mr M J Dodd IT professional
Mr M A Patrick Electronic engineer (resigned 4/3/2023)

The Tunbridge Wells & Eridge Railway
Preservation Society Limited (Registered number: 02129019)

Report of the Trustees
for the Year Ended 31 January 2023


REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner
Swindells LLP
Chartered Accountants
Wilson House
48 Brooklyn Road
Seaford
East Sussex
BN25 2DX

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 24 October 2023 and signed on its behalf by:





Mr J S Nye - Trustee

Independent Examiner's Report to the Trustees of
The Tunbridge Wells & Eridge Railway
Preservation Society Limited

Independent examiner's report to the trustees of The Tunbridge Wells & Eridge Railway Preservation Society Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 January 2023.

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 Report to the Trustees of
The Tunbridge Wells & Eridge Railway
Preservation Society Limited


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.








Ian Jenkins

Swindells LLP
Chartered Accountants
Wilson House
48 Brooklyn Road
Seaford
East Sussex
BN25 2DX

27 October 2023

The Tunbridge Wells & Eridge Railway
Preservation Society Limited

Statement of Financial Activities
(Incorporating an Income and Expenditure Account)
for the Year Ended 31 January 2023

2023 2022
Unrestricted Restricted Total Total
funds funds funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 29,505 49,143 78,648 405,629

Charitable activities
Restoration of rolling stock and improvement of facilities
16,318

-

16,318

16,451

Investment income 3 1,916 - 1,916 92
Other income 1,363 - 1,363 6
Total 49,102 49,143 98,245 422,178

EXPENDITURE ON
Raising funds 4 570 - 570 -

Charitable activities 5
Restoration of rolling stock and improvement of facilities
52,842

27,989

80,831

145,929
Total 53,412 27,989 81,401 145,929

NET INCOME/(EXPENDITURE) (4,310 ) 21,154 16,844 276,249


RECONCILIATION OF FUNDS
Total funds brought forward 659,709 518,066 1,177,775 901,526

TOTAL FUNDS CARRIED FORWARD 655,399 539,220 1,194,619 1,177,775

The Tunbridge Wells & Eridge Railway
Preservation Society Limited (Registered number: 02129019)

Balance Sheet
31 January 2023

2023 2022
Unrestricted Restricted Total Total
funds funds funds funds
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 10 54,975 130,000 184,975 181,955
Investments 11 399,489 - 399,489 399,489
454,464 130,000 584,464 581,444

CURRENT ASSETS
Debtors 12 2,570 25,482 28,052 43,266
Cash at bank and in hand 222,020 414,071 636,091 626,793
224,590 439,553 664,143 670,059

CREDITORS
Amounts falling due within one year 13 (23,655 ) (26,000 ) (49,655 ) (43,395 )

NET CURRENT ASSETS 200,935 413,553 614,488 626,664

TOTAL ASSETS LESS CURRENT LIABILITIES 655,399 543,553 1,198,952 1,208,108

CREDITORS
Amounts falling due after more than one
year

14

-

(4,333

)

(4,333

)

(30,333

)

NET ASSETS 655,399 539,220 1,194,619 1,177,775
FUNDS 17
Unrestricted funds 655,399 659,709
Restricted funds 539,220 518,066
TOTAL FUNDS 1,194,619 1,177,775

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.



The Tunbridge Wells & Eridge Railway
Preservation Society Limited (Registered number: 02129019)

Balance Sheet - continued
31 January 2023

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.

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 24 October 2023 and were signed on its behalf by:





Mr J S Nye - Trustee

The Tunbridge Wells & Eridge Railway
Preservation Society Limited

Notes to the Financial Statements
for the Year Ended 31 January 2023

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.

The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

the requirements of Section 7 Statement of Cash Flows.

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.

Life membership is recognised in the year received and is not deferred. Annual subscriptions are recognised in the period in which they relate to with prepaid subscriptions being recognised as deferred income.

Voluntary income (including donations and legacies) is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.

Income derived from charitable activities is recognised as earned (that is, as the related goods or services are provided). Income received in advance of events is recognised as deferred income until the event takes place.

Investment income is recognised on a receivable basis.

Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

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.

Costs of generating funds are the costs associated with attracting voluntary income.


The Tunbridge Wells & Eridge Railway
Preservation Society Limited

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

1. ACCOUNTING POLICIES - continued

Expenditure
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor area, or per capita, staff costs by the time spent and other costs by their usage.

Irrecoverable VAT is charged against the category of resources expended for which it was incurred.

Tangible fixed assets
Individual fixed assets costing £100 or more are initially recorded at cost.

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Plant and machinery3 years straight line and 15% reducing balance
Rolling stock15 years straight line once restoration work is completed

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.

Investments
Investments in subsidiaries are valued at cost less provision for impairment.


The Tunbridge Wells & Eridge Railway
Preservation Society Limited

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

2. DONATIONS AND LEGACIES
2023 2022
£    £   
Appeals and donations 43,730 54,273
Legacies 918 302,016
Grants 34,000 49,340
78,648 405,629

Grants received, included in the above, are as follows:

2023 2022
£    £   
Heritage Lottery Fund 10,000 -
Tunbridge Borough Council 4,000 16,573
Wealden District Council - 31,143
Railway Heritage Trust - 1,624
Govia Thameslink Railway 20,000 -
34,000 49,340

3. INVESTMENT INCOME
2023 2022
£    £   
Interest on cash deposits 1,916 92

4. RAISING FUNDS

Raising donations and legacies
2023 2022
£    £   
Fundraising costs 570 -


The Tunbridge Wells & Eridge Railway
Preservation Society Limited

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

5. CHARITABLE ACTIVITIES COSTS
Support
Direct costs (see
Costs note 6) Totals
£    £    £   
Restoration of rolling stock and
improvement of facilities

45,478

35,353

80,831

6. SUPPORT COSTS
Management Finance Other Totals
£    £    £    £   
Restoration of rolling stock and
improvement of facilities

17,981

529

16,843

35,353


Included in support costs are fees payable to the independent examiner for the examination of the accounts amounting to £5,600 (2022: £5,345).

Support costs, included in the above, are as follows:
2023 2022
Restoration
of
rolling
stock and
improvement
of Total
facilities activities
£    £   
Postage and stationery 5,514 4,129
Advertising 2,241 1,868
Sundries 179 13
Computer costs 1,163 379
Accountancy 5,600 5,345
Bookkeeping 3,284 2,765
Bank charges 529 140
Establishment costs 10,657 9,735
Depreciation of tangible fixed assets 6,186 5,197
35,353 29,571


The Tunbridge Wells & Eridge Railway
Preservation Society Limited

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

7. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2023 2022
£    £   
Depreciation - owned assets 6,186 5,196

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 January 2023 nor for the year ended 31 January 2022.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 January 2023 nor for the year ended 31 January 2022.


9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
funds funds funds
£    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 106,629 299,000 405,629

Charitable activities
Restoration of rolling stock and improvement of facilities
16,451

-

16,451

Investment income 92 - 92
Other income 6 - 6
Total 123,178 299,000 422,178

EXPENDITURE ON
Charitable activities
Restoration of rolling stock and improvement of facilities
91,017

54,912

145,929

NET INCOME 32,161 244,088 276,249
Transfers between funds (32,000 ) 32,000 -
Net movement in funds 161 276,088 276,249

The Tunbridge Wells & Eridge Railway
Preservation Society Limited

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted Restricted Total
funds funds funds
£    £    £   

RECONCILIATION OF FUNDS
Total funds brought forward 659,547 241,979 901,526

TOTAL FUNDS CARRIED FORWARD 659,708 518,067 1,177,775

10. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 February 2022 207,936 - 207,936
Additions 7,158 2,048 9,206
At 31 January 2023 215,094 2,048 217,142
DEPRECIATION
At 1 February 2022 25,981 - 25,981
Charge for year 5,674 512 6,186
At 31 January 2023 31,655 512 32,167
NET BOOK VALUE
At 31 January 2023 183,439 1,536 184,975
At 31 January 2022 181,955 - 181,955


The Tunbridge Wells & Eridge Railway
Preservation Society Limited

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

11. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
MARKET VALUE
At 1 February 2022 and
31 January 2023

439,489

PROVISIONS
At 1 February 2022 and
31 January 2023

40,000

NET BOOK VALUE
At 31 January 2023 399,489
At 31 January 2022 399,489

There were no investment assets outside the UK.

The company's investments at the balance sheet date in the share capital of companies include the following:

Wealden Railway Company Limited
Registered office: West Station, Nevill Terrace, Tunbridge Wells, Kent, TN2 5QY
Nature of business: Operation of train service and restoration
%
Class of share: holding
Ordinary 85
31/1/23 31/1/22
£    £   
Aggregate capital and reserves 582,889 619,206
(Loss)/profit for the year (36,317 ) 74,799


The Tunbridge Wells & Eridge Railway
Preservation Society Limited

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 11,621 37,435
Other debtors 5,743 3,642
VAT 936 1,487
Prepayments and accrued income 9,752 702
28,052 43,266

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans (see note 15) 26,000 26,000
Trade creditors 21 5,790
Amounts owed to group undertakings 12,036 -
Accruals and deferred income 11,598 11,605
49,655 43,395

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other loans (see note 15) 4,333 30,333

15. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year on demand:
Other loans 26,000 26,000
Amounts falling between one and two years:
Other loans - 1-2 years 4,333 26,000
Amounts falling due between two and five years:
Other loans - 2-5 years - 4,333


The Tunbridge Wells & Eridge Railway
Preservation Society Limited

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

16. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2023 2022
£    £   
Within one year 6,039 5,890
Between one and five years 2,307 7,974
8,346 13,864

17. MOVEMENT IN FUNDS
Net
movement At
At 1.2.22 in funds 31.1.23
£    £    £   
Unrestricted funds
General fund-charity 638,585 (2,577 ) 636,008
Crisis fund 21,124 (1,733 ) 19,391
659,709 (4,310 ) 655,399
Restricted funds
Eridge Fund 31,528 18,534 50,062
Sutton Fund 140,491 1,017 141,508
1317 Fund 20,322 746 21,068
North Downs Fund / Jinty 197,336 (1,861 ) 195,475
J94 Fund 3,011 - 3,011
Carriage & Wagon Maintenance Fund 45,858 (3,349 ) 42,509
Class 12 Fund 1,763 - 1,763
Class 10 Fund 42,835 4,699 47,534
Topham Fund 16,092 150 16,242
Groombridge Signalling Fund 10,238 998 11,236
Landslip Appeal Fund 3,166 220 3,386
Class 09 Fund 5,231 - 5,231
Dining Train 195 - 195
518,066 21,154 539,220
TOTAL FUNDS 1,177,775 16,844 1,194,619

The Tunbridge Wells & Eridge Railway
Preservation Society Limited

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

17. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund-charity 48,170 (50,747 ) (2,577 )
Crisis fund 932 (2,665 ) (1,733 )
49,102 (53,412 ) (4,310 )
Restricted funds
Eridge Fund 20,900 (2,366 ) 18,534
Sutton Fund 1,017 - 1,017
1317 Fund 782 (36 ) 746
North Downs Fund / Jinty 20,306 (22,167 ) (1,861 )
Carriage & Wagon Maintenance Fund 71 (3,420 ) (3,349 )
Class 10 Fund 4,699 - 4,699
Topham Fund 150 - 150
Groombridge Signalling Fund 998 - 998
Landslip Appeal Fund 220 - 220
49,143 (27,989 ) 21,154
TOTAL FUNDS 98,245 (81,401 ) 16,844


The Tunbridge Wells & Eridge Railway
Preservation Society Limited

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

17. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net Transfers
movement between At
At 1.2.21 in funds funds 31.1.22
£    £    £    £   
Unrestricted funds
General fund-charity 639,676 30,909 (32,000 ) 638,585
Crisis fund 19,871 1,253 - 21,124
659,547 32,162 (32,000 ) 659,709
Restricted funds
Eridge Fund 31,326 202 - 31,528
Sutton Fund 15,171 125,320 - 140,491
1317 Fund 23,131 (2,809 ) - 20,322
North Downs Fund / Jinty 55,039 116,297 26,000 197,336
J94 Fund 3,011 - - 3,011
Carriage & Wagon Maintenance Fund 45,858 - - 45,858
Class 12 Fund 1,763 - - 1,763
Class 10 Fund 36,518 6,317 - 42,835
Topham Fund 15,845 247 - 16,092
Groombridge Signalling Fund 11,037 (799 ) - 10,238
Landslip Appeal Fund 2,855 311 - 3,166
Class 09 Fund 275 (1,044 ) 6,000 5,231
Dining Train 150 45 - 195
241,979 244,087 32,000 518,066
TOTAL FUNDS 901,526 276,249 - 1,177,775

The Tunbridge Wells & Eridge Railway
Preservation Society Limited

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

17. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund-charity 120,134 (89,225 ) 30,909
Crisis fund 3,044 (1,791 ) 1,253
123,178 (91,016 ) 32,162
Restricted funds
Eridge Fund 202 - 202
Sutton Fund 160,870 (35,550 ) 125,320
1317 Fund 2,101 (4,910 ) (2,809 )
North Downs Fund / Jinty 127,724 (11,427 ) 116,297
Class 10 Fund 6,421 (104 ) 6,317
Topham Fund 247 - 247
Groombridge Signalling Fund 1,079 (1,878 ) (799 )
Landslip Appeal Fund 311 - 311
Class 09 Fund - (1,044 ) (1,044 )
Dining Train 45 - 45
299,000 (54,913 ) 244,087
TOTAL FUNDS 422,178 (145,929 ) 276,249

General Funds
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.

Crisis Fund
An appeal was made for financial support to help with the impact of the Covid-19 pandemic, and the funds received by this appeal have been designated from general funds for this purpose. The funds have been extremely valuable in ensuring we could get through months of not operating due to the pandemic. We have been extremely fortunate as our supporters have given generously, and without these funds we may not have got through so well.

Eridge Extension Fund
Following the re-opening through to Eridge in 2011, the purpose of this fund has been amended to raise money for the costs involved in re-instating run-round facilities at Eridge station together with the creation of disabled access on to the platform and the provision of a dedicated catering outlet on the platform.




The Tunbridge Wells & Eridge Railway
Preservation Society Limited

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

17. MOVEMENT IN FUNDS - continued

Sutton Fund
The purpose of this fund is to raise money for the restoration of A1A Terrier Class 0-6T locomotive "Sutton" number 32650 which was brought to the Spa Valley Railway during 2004 by its owners, the London Borough of Sutton, for determination of work necessary for its restoration. If the locomotive is repaired by the Railway it will have a 10 year operating agreement with the Council. The restoration work has progressed slowly in recent years but is expected to be completed in the next few years subject to the availability of volunteer manpower.

1317 Fund
The purpose of this fund is to raise money for the restoration of Oxted DEMU unit number 1317 centre coach. Unit 1317 was sold to the charity at a notional cost of £100 + VAT by its previous owners Porterbrook Leasing Company Limited. Unit 1317 was one of the two units which ran on the last day of service on the line - 6 July 1985. The centre coach of this unit has subsequently been donated to the charity by its previous owners, The Hampshire and Sussex Preservation Society. This coach was restored externally away from the railway and returned to the Spa Valley Railway in 2008. Internal restoration has now commenced with the hope that it will be returned to service as a complete 3-car unit.

J94 Fund
J94 Class locomotive number 68077 was previously owned by the Keighley & Worth Valley Railway but has now been purchased by a group of society members. It is undergoing restoration by the society back to full working order. The project is ongoing and likely to take several years to complete.

Carriage & Wagon Maintenance Fund (formerly Kate Appeal Fund)
Following the conclusion of all work on the bar car Kate, the fund has reverted back to the Carriage & Wagon Maintenance Fund with the balance to be used to renovate a Kitchen Car for dining trains.

Class 12 Fund
The Bulleid Class 12 0-6-0 diesel shunter has effectively been withdrawn from service following the August 2013 Diesel Gala as it is awaiting a major overhaul.

Class 10 Fund
Following its return to service in 2014, this fund remains to cover future maintenance costs involved in operating the locomotive.

Topham Fund
'Topham' is a W G Bagnall 0-6-0 industrial steam locomotive that was previously owned by the North Downs Steam Railway and is now a society asset. It is awaiting a major overhaul and funds are being sought to enable the restoration of this unique locomotive to commence.








The Tunbridge Wells & Eridge Railway
Preservation Society Limited

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

17. MOVEMENT IN FUNDS - continued

Groombridge Signalling Fund
This fund was created to raise money towards the installation of signalling at Groombridge to facilitate two-train operation. This continues to aid the benefit of the Operations Department for the enhancement of operational flexibility and capacity of the railway to run more trains and particularly driver experience courses on operating days thus continuing the increase in train operation revenue. The work has already delivered two train passing and third train shuttle recessing capability that has generated additional revenue as above but requires further work for finalisation of the programme.

Landslip Appeal Fund
During the heavy rainfall in November 2012, the railway suffered a major landslip on the embankment on the High Rocks side of the A26 bridge. This has resulted in the running line being slewed across to the second track of the double-track formation. In addition the embankment requires piling and supporting with ongoing work expected over the next 12 months. Initial estimates of the direct costs involved amount to £25,000 with upwards of £100,000 of indirect costs including use of equipment and sales of scrap materials foregone as a result of being used in the support work. This work had reached a hiatus with the departure at the end of 2015 of the Civils Manager. The Railway's successor Consultant Civil Engineer delivered a report on the continuation of the existing remediation works and the method of delivery in-house with volunteer labour. We have appointed a (volunteer) Project Manager who along with our Consultant Civil Engineer and his report on possible ways forward have interviewed three contractors for Ground Investigation works as Phase 1 and remediation works as Phase 2. Once selected, funding for Phase 1 and partially of Phase 2 can come from legacy funding left to the Railway; the balance will have to be fund raised.

Class 09 Fund
During 2016 year Govia Thameslink Railway donated its Class 09 shunter 09026 to the Spa Valley Railway. It was serviceable for a short period during 2016 before being withdrawn for a major reconstruction and overhaul. The costs involved in getting the locomotive to the railway and its ongoing reconstruction and overhaul are being capitalised with the routine maintenance costs incurred during its short period in service being charged to this fund. These costs will be covered by income from a running agreement with the Wealden Railway Company Limited once the overhaul is completed and the locomotive is back in service.

Dining Train Fund
Our joint ambition with Wealden Railway Company Limited is for a dedicated dining train, rather than using seats on our regular service trains. This vision is slowly coming into focus with the arrival of Mark I coach number 3131 from an external overhaul, and now awaiting its turn in the Carriage and Wagon workshops. Further funds are needed for conversion of a coach into a kitchen coach, and possibly the acquisition of another coach.










The Tunbridge Wells & Eridge Railway
Preservation Society Limited

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

17. MOVEMENT IN FUNDS - continued

Jinty Fund
In April 2019 the society purchased Jinty steam locomotive 47493 which has been based on the line for a significant time. The society's trading subsidiary also acquired a maintenance fund to be used towards the overhaul in order to obtain a ten year ticket for the locomotive to operate. Following the sale of the "North Downs" locomotive, the trustees of the North Downs fund agreed that the balance of the fund be put towards the new Jinty Fund.

The Jinty Fund balance currently shows the funds raised less fund raising expenses incurred. It does not show the £99,667 loan repayments which have been paid out of the unrestricted general fund to date. The purpose of the Jinty Fund is to raise £130,000 for the capital cost and additional funds to cover cost of this fund raising. Any funds raised in excess of this will be used to create a future maintenance fund. At this stage in the life of the fund and for simplicity, the Trustees have opted not to transfer these repayments until the full £130,000 is raised. The Society is responsible for meeting the monthly repayments, and the Jinty Fund will reimburse the general fund for these payments at a date to be determined by the Trustees.

18. RELATED PARTY DISCLOSURES

During the year, donations amounting to £3,146 (2022: £3,183) were received from trustees.

Wealden Railway Company Limited
Subsidiary

20232022
££
Amount due (to)/from related party at the balance sheet date(415)37,435

No interest is charged on loans between group companies.

During the year, grants were paid to Wealden Railway Company Limited amounting to £8,311.

19. ULTIMATE CONTROLLING PARTY

The company is controlled equally by the Trustees.


The Tunbridge Wells & Eridge Railway
Preservation Society Limited

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

20. MEMBERS' LIABILITY

The charity is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.