The Giant's Causeway and Bushmills Railway NI030901 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is the operation of a scenic heritage railway Digita Accounts Production Advanced 6.30.9574.0 true true NI030901 2023-01-01 2023-12-31 NI030901 2023-12-31 NI030901 core:CurrentFinancialInstruments 2023-12-31 NI030901 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 NI030901 core:Non-currentFinancialInstruments 2023-12-31 NI030901 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 NI030901 core:LandBuildings 2023-12-31 NI030901 core:OtherPropertyPlantEquipment 2023-12-31 NI030901 bus:SmallEntities 2023-01-01 2023-12-31 NI030901 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 NI030901 bus:FilletedAccounts 2023-01-01 2023-12-31 NI030901 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 NI030901 bus:RegisteredOffice 2023-01-01 2023-12-31 NI030901 bus:Director2 2023-01-01 2023-12-31 NI030901 bus:CompanyLimitedByGuarantee 2023-01-01 2023-12-31 NI030901 core:Buildings 2023-01-01 2023-12-31 NI030901 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 NI030901 core:LandBuildings 2023-01-01 2023-12-31 NI030901 core:MotorVehicles 2023-01-01 2023-12-31 NI030901 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 NI030901 core:PlantMachinery 2023-01-01 2023-12-31 NI030901 core:VehiclesPlantMachinery 2023-01-01 2023-12-31 NI030901 countries:NorthernIreland 2023-01-01 2023-12-31 NI030901 2022-12-31 NI030901 core:LandBuildings 2022-12-31 NI030901 core:OtherPropertyPlantEquipment 2022-12-31 NI030901 2022-01-01 2022-12-31 NI030901 2022-12-31 NI030901 core:CurrentFinancialInstruments 2022-12-31 NI030901 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 NI030901 core:Non-currentFinancialInstruments 2022-12-31 NI030901 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 NI030901 core:LandBuildings 2022-12-31 NI030901 core:OtherPropertyPlantEquipment 2022-12-31 iso4217:GBP xbrli:pure

Registration number: NI030901

The Giant's Causeway and Bushmills Railway

(A company limited by guarantee)

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

The Giant's Causeway and Bushmills Railway

(Registration number: NI030901)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

263,156

274,852

Current assets

 

Stocks

400

400

Debtors

5

942

266

Cash at bank and in hand

 

141,941

121,928

 

143,283

122,594

Creditors: Amounts falling due within one year

6

(15,463)

(21,128)

Net current assets

 

127,820

101,466

Net assets

 

390,976

376,318

Other long term creditors

 

362,563

362,563

Funds of the charity

 

Unrestricted funds

28,413

13,755

Total funds

 

390,976

376,318

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

The Giant's Causeway and Bushmills Railway

(Registration number: NI030901)
Balance Sheet as at 31 December 2023

Approved and authorised by the Board on 4 June 2024 and signed on its behalf by:
 

.........................................
Mr Seymour Sweeney
Director

 

The Giant's Causeway and Bushmills Railway

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a company limited by guarantee, incorporated in Northern Ireland, and consequently does not have share capital. The company is a registered charity (reference XR20821) and a public benefit entity which works to advance the education of the public in terms of the history and backgroud to the World's first Hydro electric Tramway.

The address of its registered office is: The Old Barn, 6 Seaport Avenue, Portballintrae, Co Antrim, BT57 8SB.

These financial statements were authorised for issue by the Board on 4 June 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime). They also comply with the 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 (Charities SORP (FRS 102)) and Charities Act 2008.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

 

The Giant's Causeway and Bushmills Railway

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Income recognition

Incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. Incoming resources include income from sales of service.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to that donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

Income from government grants are recognised at fair value when the charity has entitlement after performance conditions are met, and it is probably that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.

Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

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 life as follows:

Asset class

Depreciation method and rate

Freehold land and buildings

2% straight line basis

Plant and equipment

25% straight line basis

Motor vehicles

25% reducing balance basis

Rolling stock

5% straight line basis

Rolling stock held for investment

Nil

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

 

The Giant's Causeway and Bushmills Railway

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Stocks

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO) method.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2022 - 10).

4

Tangible assets

Land and buildings
£

Plant and equipment
£

Total
£

Cost or valuation

At 1 January 2023

328,680

320,370

649,050

At 31 December 2023

328,680

320,370

649,050

Depreciation

At 1 January 2023

243,131

131,067

374,198

Charge/(credit) for the year

6,574

5,122

11,696

At 31 December 2023

249,705

136,189

385,894

Carrying amount

At 31 December 2023

78,975

184,181

263,156

At 31 December 2022

85,549

189,303

274,852

 

The Giant's Causeway and Bushmills Railway

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Debtors

2023
£

2022
£

Other debtors

942

266

942

266

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

8,378

14,425

Other creditors

7,085

6,703

15,463

21,128

7

Other long term creditors

2023
£

2022
£

Other loans

362,563

362,563