IRIS Accounts Production v24.3.0.553 Other Company accounts True false Pounds 1.3.23 29.2.24 29.2.24 FY FRS 102 Independent examiner Small companies regime for accounts Full Charities SORP true true true true false true false false 0 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh019705702023-02-28019705702024-02-29019705702023-03-012024-02-29019705702022-02-28019705702022-03-012023-02-28019705702023-02-2801970570ns0:CharitableCompanyLimitedByGuarantee2023-03-012024-02-2901970570ns15:PoundSterling2023-03-012024-02-2901970570ns11:FRS1022023-03-012024-02-2901970570ns11:IndependentExaminationCharity2023-03-012024-02-2901970570ns11:SmallCompaniesRegimeForAccounts2023-03-012024-02-2901970570ns11:FullAccounts2023-03-012024-02-2901970570ns11:CharitiesSORP2023-03-012024-02-2901970570ns16:EnglandWales2023-03-012024-02-2901970570ns11:RegisteredOffice2023-03-012024-02-2901970570ns0:Trustee12023-03-012024-02-2901970570ns0:Trustee22023-03-012024-02-2901970570ns0:Trustee32023-03-012024-02-2901970570ns0:Trustee42023-03-012024-02-2901970570ns0:Trustee52023-03-012024-02-2901970570ns0:Trustee62023-03-012024-02-2901970570ns0:Trustee72023-03-012024-02-2901970570ns0:Trustee82023-03-012024-02-2901970570ns0:TotalUnrestrictedFunds2023-03-012024-02-2901970570ns0:TotalRestrictedIncomeFunds2023-03-012024-02-2901970570ns0:Activity82023-03-012024-02-2901970570ns0:Activity8ns0:TotalUnrestrictedFunds2023-03-012024-02-2901970570ns0:Activity8ns0:TotalRestrictedIncomeFunds2023-03-012024-02-2901970570ns0:Activity82022-03-012023-02-2801970570ns0:TotalUnrestrictedFunds2023-02-2801970570ns0:TotalRestrictedIncomeFunds2023-02-2801970570ns0:TotalUnrestrictedFunds2024-02-2901970570ns0:TotalRestrictedIncomeFunds2024-02-2901970570ns0:TotalUnrestrictedFundsns10:WithinOneYear2024-02-2901970570ns0:TotalRestrictedIncomeFundsns10:WithinOneYear2024-02-2901970570ns10:WithinOneYear2024-02-2901970570ns10:WithinOneYear2023-02-2801970570ns10:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-03-012024-02-2901970570ns10:PlantMachinery2023-03-012024-02-2901970570ns10:FurnitureFittingsToolsEquipment2023-03-012024-02-2901970570ns10:MotorVehicles2023-03-012024-02-2901970570ns10:ComputerEquipment2023-03-012024-02-290197057022023-03-012024-02-2901970570ns10:OwnedAssets2023-03-012024-02-2901970570ns10:OwnedAssets2022-03-012023-02-2801970570ns0:TotalUnrestrictedFunds2022-03-012023-02-2801970570ns0:TotalRestrictedIncomeFunds2022-03-012023-02-2801970570ns0:Activity8ns0:TotalUnrestrictedFunds2022-03-012023-02-2801970570ns0:Activity8ns0:TotalRestrictedIncomeFunds2022-03-012023-02-2801970570ns10:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-02-2801970570ns10:PlantMachinery2023-02-2801970570ns10:FurnitureFittings2023-02-2801970570ns10:FurnitureFittings2023-03-012024-02-2901970570ns10:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2024-02-2901970570ns10:PlantMachinery2024-02-2901970570ns10:FurnitureFittings2024-02-2901970570ns10:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-02-2801970570ns10:PlantMachinery2023-02-2801970570ns10:FurnitureFittings2023-02-2801970570ns10:MotorVehicles2023-02-2801970570ns10:ComputerEquipment2023-02-2801970570ns10:MotorVehicles2024-02-2901970570ns10:ComputerEquipment2024-02-2901970570ns10:MotorVehicles2023-02-2801970570ns10:ComputerEquipment2023-02-28
REGISTERED COMPANY NUMBER: 01970570 (England and Wales)
REGISTERED CHARITY NUMBER: 1003150














REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29TH FEBRUARY 2024

FOR

TELFORD HORSEHAY STEAM TRUST COMPANY
LIMITED

TELFORD HORSEHAY STEAM TRUST COMPANY
LIMITED






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 29th February 2024




Page

Report of the Trustees 1 to 2

Independent Examiner's Report 3

Statement of Financial Activities 4

Balance Sheet 5 to 6

Notes to the Financial Statements 7 to 12

TELFORD HORSEHAY STEAM TRUST COMPANY
LIMITED (REGISTERED NUMBER: 01970570)

REPORT OF THE TRUSTEES
for the Year Ended 29th February 2024


The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 29th February 2024. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES
Objectives and aims
The principal activity of the company in the year under review was that of raising funds to promote the interest in steam trains in the locality.

The charity continues towards its objective to advance the education of the public in the presentation of steam and other railway locomotives, rolling stock, machinery and equipment of educational and historic interest.

Public benefit
The main activity is undertaken to further our charitable objective for the public benefit.

ACHIEVEMENT AND PERFORMANCE
Fundraising activities
The charity has continued to benefit from the income from TSRE21 Ltd though the income has been lower than previous years.

There has been continued investment in the infrastructure and assets of the railway.

The Trustees have continued to closely reviewed and managed the finances.

FINANCIAL REVIEW
Reserves policy
The general fund is maximised so as to provide funds to meet expenditure towards achieving the charity's objectives.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
01970570 (England and Wales)

Registered Charity number
1003150

Registered office
The Old Locomotive Shed
Bridge Road
Horsehay
Telford
Shropshire
TF4 2NF


TELFORD HORSEHAY STEAM TRUST COMPANY
LIMITED (REGISTERED NUMBER: 01970570)

REPORT OF THE TRUSTEES
for the Year Ended 29th February 2024

Trustees
C D Whitehead Builder
M Paynter Aircraft engineer
A S Oliver Director (resigned 16.3.23)
S P Owen Director
D V J Stoddart Retired (appointed 31.3.23)
R A Owen Land Registrar (appointed 31.3.23)
A R Hook Engineer (appointed 31.3.23)
A P Green Retired (appointed 31.3.23)

Independent Examiner
D E Ball & Co Limited
Chartered Accountants
15 Bridge Road
Wellington
Telford
Shropshire
TF1 1EB

Approved by order of the board of trustees on 29th November 2024 and signed on its behalf by:





C D Whitehead - Trustee

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
TELFORD HORSEHAY STEAM TRUST COMPANY
LIMITED

Independent examiner's report to the trustees of Telford Horsehay Steam Trust Company Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 29th February 2024.

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.








Russell Ball

D E Ball & Co Limited
Chartered Accountants
15 Bridge Road
Wellington
Telford
Shropshire
TF1 1EB

29th November 2024

TELFORD HORSEHAY STEAM TRUST COMPANY
LIMITED

STATEMENT OF FINANCIAL ACTIVITIES
for the Year Ended 29th February 2024

29.2.24 28.2.23
Unrestricted Restricted Total Total
fund funds funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 134,331 - 134,331 88,319

Charitable activities
Operating the trains and track 83,205 - 83,205 53,465

Investment income 2 4,736 - 4,736 1,479
Other income 19,871 - 19,871 3,375
Total 242,143 - 242,143 146,638

EXPENDITURE ON
Charitable activities
Operating the trains and track 181,893 - 181,893 137,733

NET INCOME 60,250 - 60,250 8,905


RECONCILIATION OF FUNDS
Total funds brought forward 584,157 50 584,207 575,302

TOTAL FUNDS CARRIED FORWARD 644,407 50 644,457 584,207

TELFORD HORSEHAY STEAM TRUST COMPANY
LIMITED (REGISTERED NUMBER: 01970570)

BALANCE SHEET
29th February 2024

29.2.24 28.2.23
Unrestricted Restricted Total Total
fund funds funds funds
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 6 291,216 - 291,216 301,508

CURRENT ASSETS
Stocks 7 7,125 - 7,125 7,125
Debtors 8 271,626 - 271,626 196,364
Cash at bank and in hand 84,973 50 85,023 90,679
363,724 50 363,774 294,168

CREDITORS
Amounts falling due within one year 9 (10,533 ) - (10,533 ) (11,469 )

NET CURRENT ASSETS 353,191 50 353,241 282,699

TOTAL ASSETS LESS CURRENT LIABILITIES 644,407 50 644,457 584,207

NET ASSETS 644,407 50 644,457 584,207
FUNDS 10
Unrestricted funds 644,407 584,157
Restricted funds 50 50
TOTAL FUNDS 644,457 584,207

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 2024 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.


TELFORD HORSEHAY STEAM TRUST COMPANY
LIMITED (REGISTERED NUMBER: 01970570)

BALANCE SHEET - continued
29th February 2024

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 29th November 2024 and were signed on its behalf by:





C D Whitehead - Trustee





M Paynter - Trustee





A S Oliver - Trustee





S P Owen - Trustee

TELFORD HORSEHAY STEAM TRUST COMPANY
LIMITED

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 29th February 2024

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.

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.


Building improvements - 10% on cost
Tools and Equipment - 25% on reducing balance
Railtrack - 4% on reducing balance
Extension expenditure - 5% on cost
Train & coach costs - 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
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.


TELFORD HORSEHAY STEAM TRUST COMPANY
LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29th February 2024

2. INVESTMENT INCOME
29.2.24 28.2.23
£    £   
Interest received 4,736 1,479

3. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

29.2.24 28.2.23
£    £   
Depreciation - owned assets 41,483 42,378
Surplus on disposal of fixed assets (3,721 ) -

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 29th February 2024 nor for the year ended 28th February 2023.


Trustees' expenses

There were no trustees' expenses paid for the year ended 29th February 2024 nor for the year ended 28th February 2023.


5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund funds funds
£    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 88,319 - 88,319

Charitable activities
Operating the trains and track 53,465 - 53,465

Investment income 1,479 - 1,479
Other income 3,375 - 3,375
Total 146,638 - 146,638

EXPENDITURE ON
Charitable activities
Operating the trains and track 137,733 - 137,733

NET INCOME 8,905 - 8,905


RECONCILIATION OF FUNDS
Total funds brought forward 575,252 50 575,302


TELFORD HORSEHAY STEAM TRUST COMPANY
LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29th February 2024

5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted Restricted Total
fund funds funds
£    £    £   
TOTAL FUNDS CARRIED FORWARD 584,157 50 584,207

6. TANGIBLE FIXED ASSETS
Building Tools and
improvements Equipment Railtrack
£    £    £   
COST
At 1st March 2023 32,671 95,773 71,633
Additions 2,950 1,467 -
Disposals - - -
At 29th February 2024 35,621 97,240 71,633
DEPRECIATION
At 1st March 2023 23,141 42,441 43,737
Charge for year 2,223 13,464 6,990
Eliminated on disposal - - -
At 29th February 2024 25,364 55,905 50,727
NET BOOK VALUE
At 29th February 2024 10,257 41,335 20,906
At 28th February 2023 9,530 53,332 27,896
Train &
Extension coach
expenditure costs Totals
£    £    £   
COST
At 1st March 2023 108,266 221,075 529,418
Additions 18,725 8,495 31,637
Disposals - (4,000 ) (4,000 )
At 29th February 2024 126,991 225,570 557,055
DEPRECIATION
At 1st March 2023 26,789 91,802 227,910
Charge for year 5,826 12,980 41,483
Eliminated on disposal - (3,554 ) (3,554 )
At 29th February 2024 32,615 101,228 265,839
NET BOOK VALUE
At 29th February 2024 94,376 124,342 291,216
At 28th February 2023 81,477 129,273 301,508

TELFORD HORSEHAY STEAM TRUST COMPANY
LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29th February 2024

7. STOCKS
29.2.24 28.2.23
£    £   
Stocks 7,125 7,125

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors - 9,240
Loan - THST 5619 Ltd 7,295 7,295
Loan - TSRE21 Ltd 264,163 179,829
VAT 168 -
271,626 196,364

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade creditors 8,933 9,337
Social security and other taxes - 164
Accrued expenses 1,600 1,968
10,533 11,469

10. MOVEMENT IN FUNDS
Net
movement At
At 1.3.23 in funds 29.2.24
£    £    £   
Unrestricted funds
General fund 584,157 60,250 644,407

Restricted funds
National lottery funding for engine
refurbishment

50

-

50

TOTAL FUNDS 584,207 60,250 644,457

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 242,143 (181,893 ) 60,250

TOTAL FUNDS 242,143 (181,893 ) 60,250

TELFORD HORSEHAY STEAM TRUST COMPANY
LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29th February 2024

10. MOVEMENT IN FUNDS - continued


Comparatives for movement in funds

Net
movement At
At 1.3.22 in funds 28.2.23
£    £    £   
Unrestricted funds
General fund 575,252 8,905 584,157

Restricted funds
National lottery funding for engine
refurbishment

50

-

50

TOTAL FUNDS 575,302 8,905 584,207

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 146,638 (137,733 ) 8,905

TOTAL FUNDS 146,638 (137,733 ) 8,905

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1.3.22 in funds 29.2.24
£    £    £   
Unrestricted funds
General fund 575,252 69,155 644,407

Restricted funds
National lottery funding for engine
refurbishment

50

-

50

TOTAL FUNDS 575,302 69,155 644,457

TELFORD HORSEHAY STEAM TRUST COMPANY
LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29th February 2024

10. MOVEMENT IN FUNDS - continued

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 388,781 (319,626 ) 69,155

TOTAL FUNDS 388,781 (319,626 ) 69,155

11. RELATED PARTY DISCLOSURES

TSRE21 Limited is set up to run steam related events with all profits being donated to Telford Horsehay Steam Trust Co. Ltd.