SOUTHERN ELECTRIC TRACTION GROUP C.I.C.

Company Registration Number:
11651251 (England and Wales)

Unaudited statutory accounts for the year ended 31 October 2023

Period of accounts

Start date: 1 November 2022

End date: 31 October 2023

SOUTHERN ELECTRIC TRACTION GROUP C.I.C.

Contents of the Financial Statements

for the Period Ended 31 October 2023

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

SOUTHERN ELECTRIC TRACTION GROUP C.I.C.

Balance sheet

As at 31 October 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 2,014 0
Total fixed assets: 2,014 0
Current assets
Debtors: 4 96 96
Cash at bank and in hand: 7,584 10,711
Total current assets: 7,680 10,807
Net current assets (liabilities): 7,680 10,807
Total assets less current liabilities: 9,694 10,807
Creditors: amounts falling due after more than one year: 5 ( 10,024 ) ( 10,804 )
Total net assets (liabilities): (330) 3
Capital and reserves
Called up share capital: 3 3
Profit and loss account: (333 )
Total Shareholders' funds: ( 330 ) 3

The notes form part of these financial statements

SOUTHERN ELECTRIC TRACTION GROUP C.I.C.

Balance sheet statements

For the year ending 31 October 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 27 July 2024
and signed on behalf of the board by:

Name: Christopher Buckland
Status: Director

The notes form part of these financial statements

SOUTHERN ELECTRIC TRACTION GROUP C.I.C.

Notes to the Financial Statements

for the Period Ended 31 October 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

    Other accounting policies

    A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.Provisions ie liabilities of uncertain timing or amount are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

SOUTHERN ELECTRIC TRACTION GROUP C.I.C.

Notes to the Financial Statements

for the Period Ended 31 October 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 0 0

SOUTHERN ELECTRIC TRACTION GROUP C.I.C.

Notes to the Financial Statements

for the Period Ended 31 October 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 November 2022 0 0
Additions 2,197 2,197
Disposals
Revaluations
Transfers
At 31 October 2023 2,197 2,197
Depreciation
At 1 November 2022 0 0
Charge for year 183 183
On disposals
Other adjustments
At 31 October 2023 183 183
Net book value
At 31 October 2023 2,014 2,014
At 31 October 2022 0 0

SOUTHERN ELECTRIC TRACTION GROUP C.I.C.

Notes to the Financial Statements

for the Period Ended 31 October 2023

4. Debtors

2023 2022
£ £
Prepayments and accrued income 96 96
Total 96 96

SOUTHERN ELECTRIC TRACTION GROUP C.I.C.

Notes to the Financial Statements

for the Period Ended 31 October 2023

5. Creditors: amounts falling due after more than one year note

2023 2022
£ £
Other creditors 10,024 10,804
Total 10,024 10,804

COMMUNITY INTEREST ANNUAL REPORT

SOUTHERN ELECTRIC TRACTION GROUP C.I.C.

Company Number: 11651251 (England and Wales)

Year Ending: 31 October 2023

Company activities and impact

The company has continued it’s work restoring 4VEP EMU No.3417. During this period we have successfully returned the unit to mainline condition, allowing it to once again be moved on the national rail network. We are the first group in the UK to achieve this goal, and achieved national recognition in press and social media in so doing. Additionally we have:Expanded our press and social media presenceUpdated our stores and document control with the intention of pursuing ISO 9001 accreditation.Expanded our volunteer base to include more qualified railway and former railway employees.Completed and passed a comprehensive audit process lead by the Bluebell Railway, the owners of 3417.Engaged with industry partners such as Network Rail, GBRf, South Western Railways Ltd and Locomotive Services Limited to allow movement of the unit, evolving a framework through which future activities can be planned and executed.Liaised with outside bodies such as The Community Brain trust to propose activities related to 2025’s ‘Rail 200’ celebrations.

Consultation with stakeholders

The stakeholders this year have expanded beyond just the Bluebell Railway and its membership to include industry partners such as Network Rail, SWR, GBRf, Locomotive Services Limited and others. They are regularly consulted individually on aspects of our growing operation, and kept informed both via email for specific subjects and generally via our social media platforms to maintain a high level of awareness of the group’s activities and developments.

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
28 July 2024

And signed on behalf of the board by:
Name: Stephen Upton
Status: Director