REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 December 2023 |
for |
The Stephenson Locomotive Society |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 December 2023 |
for |
The Stephenson Locomotive Society |
The Stephenson Locomotive Society (Registered number: 10471004) |
Contents of the Financial Statements |
for the Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Abridged Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
The Stephenson Locomotive Society |
Company Information |
for the Year Ended 31 December 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
23 Woodland Road |
Darlington |
Co. Durham |
DL3 7BJ |
The Stephenson Locomotive Society (Registered number: 10471004) |
Abridged Statement of Financial Position |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Stocks |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
RESERVES |
Income and expenditure account | 6 |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which 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 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 company. |
The Stephenson Locomotive Society (Registered number: 10471004) |
Abridged Statement of Financial Position - continued |
31 December 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
The Stephenson Locomotive Society (Registered number: 10471004) |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
The Stephenson Locomotive Society is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Income |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
During the year the company received monies from members to fund expenditure, this does not constitute turnover. |
Tangible fixed assets |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
It is considered that the company operates as a mutual concern and that corporation tax liability arises only on the investment income received. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 January 2023 |
and 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
The Stephenson Locomotive Society (Registered number: 10471004) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
5. | FIXED ASSET INVESTMENTS |
Fixed asset investments are valued at cost. The government stock at cost: |
£34,398 2% Treasury Gilt 2025 £28,000.00 |
£36,420 5% Treasury stock 2025 £31,416.22 |
£101,000 4 1/4% Treasury Gilt 2027 £90,463.53 |
6. | RESERVES |
Income |
and |
expenditure |
account |
£ |
At 1 January 2023 |
Surplus for the year |
Transfer (to)/ from members |
funds | (19,236 | ) |
At 31 December 2023 |
During the year the members transferred a contribution of £19,236 (2022: £30,756) from the reserves. |
7. | HERITAGE ASSETS |
Heritage assets includes, a library, relics and the steam engine 'Orion'. A notional value of £1 has been applied to the said assets. |