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REGISTERED NUMBER: 15091499 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

23 AUGUST 2023 TO 31 MARCH 2024

FOR

STANIER MOGUL FUND LIMITED

STANIER MOGUL FUND LIMITED (REGISTERED NUMBER: 15091499)






CONTENTS OF THE FINANCIAL STATEMENTS
for the period 23 August 2023 to 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


STANIER MOGUL FUND LIMITED

COMPANY INFORMATION
for the period 23 August 2023 to 31 March 2024







DIRECTORS: J Ashton
H A Bowling
J A J Cooper
R Greaves
P J Holder
J Norman
O J Speke
J K Tidmarsh





REGISTERED OFFICE: 37 Severnside Mill
Bewdley
Worcestershire
DY12 1AY





REGISTERED NUMBER: 15091499 (England and Wales)





ACCOUNTANTS: LDP Luckmans
1110 Elliott Court
Coventry Business Park
Herald Avenue
Coventry
West Midlands
CV5 6UB

STANIER MOGUL FUND LIMITED (REGISTERED NUMBER: 15091499)

BALANCE SHEET
31 March 2024

Notes £    £   
FIXED ASSETS
Investments 4 46,786

CURRENT ASSETS
Cash at bank 5 784,251

CREDITORS
Amounts falling due within one year 6 6,777
NET CURRENT ASSETS 777,474
TOTAL ASSETS LESS CURRENT
LIABILITIES

824,260

RESERVES
Other reserves 825,837
Income and expenditure account (1,577 )
824,260

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2024 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 7 August 2024 and were signed on its behalf by:





J A J Cooper - Director


STANIER MOGUL FUND LIMITED (REGISTERED NUMBER: 15091499)

NOTES TO THE FINANCIAL STATEMENTS
for the period 23 August 2023 to 31 March 2024

1. STATUTORY INFORMATION

Stanier Mogul Fund Limited 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

H M Revenue & Customs have previously confirmed to the Association that a member orgnaisation it is exempt from taxation on its preservation activities. Txation therefore arises on Bank Interest received and 50% of the net profit made on sales (stand/postal) during the period. This has previously been agreed with H Revenue & Customs.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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.

Heritage assets
The company owns the ex LMS and British Railways Stanier Mogul locomotive 13268 (2968, 42968). The 1934 locomotive is the only surviving working example of the class of locomotives built at Crewe Works in 1934 to the design of Sir William Stanier.

Due to the unique nature of the locomotive, and how it was originally acquired by The Stanier Mogul Fund before the transfer to this company, the company has not recognised a cost or valuation for the asset in the financial statements. It was acquired from scrap for preservation in 1973 and originally returned to operational use in 1991 following restoration.

The locomotive has returned to steam on 22nd June 2024 following a major overhaul at Bridgnorth works and is resident at the Severn Valley Railway.

STANIER MOGUL FUND LIMITED (REGISTERED NUMBER: 15091499)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 23 August 2023 to 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 23 August 2023
and 31 March 2024 46,786
NET BOOK VALUE
At 31 March 2024 46,786
At 22 August 2023 46,786

The fund holds 4,286 shares in the Severn Valley Railway (Holdings) Plc at a cost of £1 per share.

At 31st March 2024, the Insurance Bonds are shown in the statement at their cost price of £42,500.

5. CASH AT BANK

The bank balance is made up of the following balances:-


2024
£

Barclays Current 108,418
Barclays Deposit 24,946
Sum Up Current 41,543
Buckinghamshire Building Society 74,319
Stafford Railway Building Society 91,018
Furness Building Society 90,254
Cambridge Building Society 74,567
Chorley Building Society 64,933
Progressive Building Society 76,315
Skipton Building Society 65,316
West Bromwich Building Society 72,622
Total 784,251

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Tax 6,777

STANIER MOGUL FUND LIMITED (REGISTERED NUMBER: 15091499)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 23 August 2023 to 31 March 2024

7. OTHER FINANCIAL COMMITMENTS

When reading the statement the following provisions for future expenditure made by the Management Committee should be taken into consideration:-

2024
£

2030 Overhaul300,000
2045 Overhaul435,000
General Fund - running costs20,000
Spirit of 2040 Benefits40,000
Cosmetic Restoral35,000

830,000