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REGISTERED NUMBER: 01654318 (England and Wales)

















Financial Statements

for the Year Ended 30 September 2024

for

The County of Salop Steam Engine Society
Limited

The County of Salop Steam Engine Society
Limited (Registered number: 01654318)






Contents of the Financial Statements
for the year ended 30 September 2024




Page

Company Information 1

Balance Sheet 3

Notes to the Financial Statements 4


The County of Salop Steam Engine Society
Limited

Company Information
for the year ended 30 September 2024







DIRECTORS: E W Goddard
D Metcalfe
S Whitefoot
P J Davies
A E Leeding
M J Llewellyn
K Milns
M Salt
D Whitefoot
P A Williams
A N Wild
N C Onions
M W Lane
L J Bell
T R H Sanders
B Kay
L Davies
A J Williams
I Davies
S J Llewellyn
S J Wharton
M Wesley
C P Ford
R P Ball
A Stephenson





REGISTERED OFFICE: Caerwyn Jones Chartered Accountants
Emstrey House
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG





REGISTERED NUMBER: 01654318 (England and Wales)



The County of Salop Steam Engine Society
Limited

Company Information
for the year ended 30 September 2024










AUDITORS: WR Partners
Chartered Accountants and Statutory Auditor
Belmont House
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG

The County of Salop Steam Engine Society
Limited (Registered number: 01654318)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 109,712 114,101
Investments 5 294,250 278,964
403,962 393,065

CURRENT ASSETS
Stocks 27,255 5,872
Debtors 6 4,175 4,446
Cash at bank and in hand 281,368 293,935
312,798 304,253
CREDITORS
Amounts falling due within one year 7 25,491 110,639
NET CURRENT ASSETS 287,307 193,614
TOTAL ASSETS LESS CURRENT
LIABILITIES

691,269

586,679

RESERVES
Income and expenditure account 691,269 586,679
691,269 586,679

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 15 November 2024 and were signed on its behalf by:





E W Goddard - Director


The County of Salop Steam Engine Society
Limited (Registered number: 01654318)

Notes to the Financial Statements
for the year ended 30 September 2024

1. STATUTORY INFORMATION

The County of Salop Steam Engine Society 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 as modified by the revaluation of certain assets.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% on reducing balance, 4% on cost and not provided
Plant and machinery etc - 10% 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
Taxation for the year 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.


The County of Salop Steam Engine Society
Limited (Registered number: 01654318)

Notes to the Financial Statements - continued
for the year ended 30 September 2024

2. ACCOUNTING POLICIES - continued
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 year 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2023 138,794 46,512 185,306
Additions - 1,067 1,067
At 30 September 2024 138,794 47,579 186,373
DEPRECIATION
At 1 October 2023 43,493 27,712 71,205
Charge for year 3,228 2,228 5,456
At 30 September 2024 46,721 29,940 76,661
NET BOOK VALUE
At 30 September 2024 92,073 17,639 109,712
At 30 September 2023 95,301 18,800 114,101

The County of Salop Steam Engine Society
Limited (Registered number: 01654318)

Notes to the Financial Statements - continued
for the year ended 30 September 2024

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 October 2023 278,964
Additions 5,646
Revaluations 10,441
Reclassification/transfer (801 )
At 30 September 2024 294,250
NET BOOK VALUE
At 30 September 2024 294,250
At 30 September 2023 278,964

Cost or valuation at 30 September 2024 is represented by:

Other
investments
£   
Valuation in 2024 294,250

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 74
Other debtors 4,175 4,372
4,175 4,446

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 64 89,142
Taxation and social security 17,710 12,181
Other creditors 7,717 9,316
25,491 110,639

The County of Salop Steam Engine Society
Limited (Registered number: 01654318)

Notes to the Financial Statements - continued
for the year ended 30 September 2024

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 10,800 10,800
Between one and five years 38,300 47,300
In more than five years - 2,200
49,100 60,300

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

H Pierce FCA (Senior Statutory Auditor)
for and on behalf of WR Partners

10. RELATED PARTY DISCLOSURES

During the year the company paid the directors £5,877 (2023 : £4,107) in expenses, these consist of:

P Davies £1,287 (2023 : £1,373) for PR services
S Whitefoot £885 (2023 : £885) for graphic design services
S Whitefoot £Nil (2023 : £29) for general expenses
M Llewellyn £1,069 (2023 : £468) for general expenses
S Llewellyn £776 (2023 : £745) for general expenses
D Whitefoot £842 (2023 : £316) for general expenses
K Milns £18 (2023 : £291) for general expenses
B Kay £1,000 (2023 : £Nil) for sponsorship