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REGISTERED NUMBER: 10471004 (England and Wales)















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: B H Dotson
R Bemand
K R Greenwood
J R New
D B Lewis
E Buckley
J E Rattray
K R E O Hulme





SECRETARY: G A Nichols





REGISTERED OFFICE: 23 Woodland Road
Darlington
Co. Durham
DL3 7BJ





REGISTERED NUMBER: 10471004 (England and Wales)





ACCOUNTANTS: Chrichard & Co
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 4 245 366
Investments 5 171,818 192,420
172,063 192,786

CURRENT ASSETS
Stocks 3,000 8,446
Cash at bank 19,842 11,119
22,842 19,565
CREDITORS
Amounts falling due within one year 1,858 3,840
NET CURRENT ASSETS 20,984 15,725
TOTAL ASSETS LESS CURRENT
LIABILITIES

193,047

208,511

RESERVES
Income and expenditure account 6 193,047 208,511
193,047 208,511

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

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

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


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 2 February 2024 and were signed on its behalf by:




J E Rattray - Director



E Buckley - Director


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 private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on reducing balance

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 3,664
DEPRECIATION
At 1 January 2023 3,298
Charge for year 121
At 31 December 2023 3,419
NET BOOK VALUE
At 31 December 2023 245
At 31 December 2022 366

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 208,511
Surplus for the year 3,772
Transfer (to)/ from members
funds (19,236 )
At 31 December 2023 193,047

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.