REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
MALTON DODGER LIMITED |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
MALTON DODGER LIMITED |
MALTON DODGER LIMITED |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
Report of the Trustees | 1 | to | 3 |
Independent Examiner's Report | 4 |
Statement of Financial Activities | 5 |
Balance Sheet | 6 | to | 7 |
Notes to the Financial Statements | 8 | to | 13 |
MALTON DODGER LIMITED (REGISTERED NUMBER: 07281796) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Malton Dodger Ltd was formed to take over the activities of the 'Yorkshire Wolds Railway Restoration Project' and this took place on 1st January 2011. All funds held by the original group were transferred on that date. "Yorkshire Wolds Railway" (YWR) is now the operating name of Malton Dodger Ltd |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The company has constructed a Visitor Centre and is developing an operational heritage railway on part of the trackbed of the former Malton & Driffield Junction Railway. |
The objectives are to establish and develop a popular heritage attraction in the East Riding of Yorkshire, promoting education and training. |
Public benefit |
Being a heritage railway, there is a public educational benefit whilst the railway is operating as well as during all other events & tasks undertaken by the YWR. |
There is a small museum at Fimber Halt detailing the story of the railway & many unique artefacts have been collected for the public to see. There is specifically a volunteer on hand to inform visitors. |
Many presentations about the region's local history & the progress of the restoration are given to local groups. Dedicated running sessions are also provided for interested parties. |
During 2023, the joint venture with the Hull & Barnsley Railway (HBR) Stock Fund to install and restore an ex-HBR signal box saw the building almost completed. |
The volunteer working teams continue to increase in size & regularity. They provide skills training & a mutual interest for many participators from the local community. All volunteers are welcome, subject to certain safety requirements. |
Reports of the railway's progress are regularly made through the quarterly "Malton Dodger" newsletter/magazine, together with the railway's website & discussion forum, as well as other social media outlets. |
Volunteers |
The Yorkshire Wolds Railway is staffed entirely by volunteers, both on & off site. There are no paid workers. |
The directors wish to thank all those members & other supporters who have contributed to the railway's success to date. |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
2023 saw visitor numbers increase markedly together with another record number of 'Driver' experiences being given. Another record number of presentations were delivered to local groups both on and off site. |
Additional work was carried out in the shop and on the platform to improve the visitor experience. |
Training for operational volunteers was progressed again. Such training is evidenced as part of the volunteers' competence management system. |
Developments |
Operating income & donations towards the Infrastructure & Rolling Stock funds allowed further restoration work to continue. |
FINANCIAL REVIEW |
Financial position |
The company is in a sound financial position with net assets exceeding £140,000. |
Additionally, many of the assets are stated at depreciated cost (including refurbishment) & generally these values are substantially lower than their market value. |
MALTON DODGER LIMITED (REGISTERED NUMBER: 07281796) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FINANCIAL REVIEW |
Fundraising activities |
The company raised funds during the year to achieve its objectives including increased operational income & special events such as the annual Model Railway show. |
Donations were welcomed again during 2023 enabling the railway to improve its visitor experience. The level of donations was lower than in some previous years, although this has improved up to this report date. |
Reserves policy |
The company's reserves have increased again during the year. Some reserves are restricted & are represented by specific assets owned by the company. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a deed of trust, and constitutes a company limited by guarantee, as defined by the Companies Act 2006. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Company Secretary |
Independent Examiner |
Geoff Mountain |
Jackson Robson Licence Limited |
33-35 Exchange Street |
Driffield |
East Yorkshire |
YO25 6LL |
Approved by order of the board of trustees on |
MALTON DODGER LIMITED (REGISTERED NUMBER: 07281796) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
MALTON DODGER LIMITED |
Independent examiner's report to the trustees of Malton Dodger Limited ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 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 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. |
Geoff Mountain |
Jackson Robson Licence Limited |
33-35 Exchange Street |
Driffield |
East Yorkshire |
YO25 6LL |
25 March 2024 |
MALTON DODGER LIMITED |
STATEMENT OF FINANCIAL ACTIVITIES |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Other trading activities | 2 |
Investment income | 3 |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 143,775 |
MALTON DODGER LIMITED (REGISTERED NUMBER: 07281796) |
BALANCE SHEET |
31 DECEMBER 2023 |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 7 |
Investments | 8 |
CURRENT ASSETS |
Stocks | 9 |
Debtors | 10 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 11 | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
ACCRUALS AND DEFERRED INCOME | 12 | ( |
) | ( |
) | ( |
) | ( |
) |
NET ASSETS |
FUNDS | 13 |
Unrestricted funds | 92,332 |
Restricted funds | 51,443 |
TOTAL FUNDS | 143,775 |
The charitable 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 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. |
MALTON DODGER LIMITED (REGISTERED NUMBER: 07281796) |
BALANCE SHEET - continued |
31 DECEMBER 2023 |
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 |
MALTON DODGER LIMITED |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 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. |
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. |
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. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
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 |
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. |
MALTON DODGER LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2. | OTHER TRADING ACTIVITIES |
2023 | 2022 |
£ | £ |
Fundraising (net of costs) |
Sales |
Sponsorship | 233 | 1,152 |
3. | INVESTMENT INCOME |
2023 | 2022 |
£ | £ |
Interest received |
4. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2023 | 2022 |
£ | £ |
Depreciation - owned assets |
5. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022. |
6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Other trading activities |
Investment income |
Total |
EXPENDITURE ON |
Raising funds |
NET INCOME |
MALTON DODGER LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
RECONCILIATION OF FUNDS |
Total funds brought forward | 75,597 | 39,633 |
TOTAL FUNDS CARRIED FORWARD | 92,332 | 51,443 | 143,775 |
7. | TANGIBLE FIXED ASSETS |
Equipment |
£ |
COST |
At 1 January 2023 |
Additions |
At 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 |
8. | FIXED ASSET INVESTMENTS |
Unlisted |
investments |
£ |
MARKET VALUE |
At 1 January 2023 and 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 | 1 |
At 31 December 2022 | 1 |
There were no investment assets outside the UK. |
MALTON DODGER LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
9. | STOCKS |
2023 | 2022 |
£ | £ |
Stock of regalia |
10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Prepayments |
11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors | ( |
) |
12. | ACCRUALS AND DEFERRED INCOME |
2023 | 2022 |
£ | £ |
LEADER accrued income | 37,742 | 44,982 |
Revenue Reserves | 1 | 1 |
13. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.1.23 | in funds | 31.12.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 92,332 | 5,471 | 97,803 |
Restricted funds |
Infrastructure | 45,195 | (2,847 | ) | 42,348 |
Rolling stock | 6,248 | (815 | ) | 5,433 |
(3,662 | ) |
TOTAL FUNDS | 1,809 | 145,584 |
MALTON DODGER LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
13. | 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 | 45,802 | (40,331 | ) | 5,471 |
Restricted funds |
Infrastructure | 11 | (2,858 | ) | (2,847 | ) |
Rolling stock | 1,200 | (2,015 | ) | (815 | ) |
( |
) | (3,662 | ) |
TOTAL FUNDS | ( |
) | 1,809 |
Comparatives for movement in funds |
Net |
movement | At |
At 1.1.22 | in funds | 31.12.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 75,597 | 16,735 | 92,332 |
Restricted funds |
Infrastructure | 34,056 | 11,139 | 45,195 |
Rolling stock | 5,577 | 671 | 6,248 |
39,633 | 11,810 | 51,443 |
TOTAL FUNDS | 115,230 | 28,545 | 143,775 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 52,660 | (35,925 | ) | 16,735 |
Restricted funds |
Infrastructure | 14,314 | (3,175 | ) | 11,139 |
Rolling stock | 2,509 | (1,838 | ) | 671 |
16,823 | (5,013 | ) | 11,810 |
TOTAL FUNDS | 69,483 | (40,938 | ) | 28,545 |
MALTON DODGER LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
13. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.1.22 | in funds | 31.12.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 75,597 | 22,206 | 97,803 |
Restricted funds |
Infrastructure | 34,056 | 8,292 | 42,348 |
Rolling stock | 5,577 | (144 | ) | 5,433 |
39,633 | 8,148 | 47,781 |
TOTAL FUNDS | 115,230 | 30,354 | 145,584 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 98,462 | (76,256 | ) | 22,206 |
Restricted funds |
Infrastructure | 14,325 | (6,033 | ) | 8,292 |
Rolling stock | 3,709 | (3,853 | ) | (144 | ) |
18,034 | (9,886 | ) | 8,148 |
TOTAL FUNDS | 116,496 | (86,142 | ) | 30,354 |
14. | RELATED PARTY DISCLOSURES |