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REGISTERED COMPANY NUMBER: 04785581 (England and Wales)

REGISTERED CHARITY NUMBER: 1100537















6880 BETTON GRANGE (SOCIETY) LIMITED


UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2024



6880 BETTON GRANGE (SOCIETY) LIMITED



CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024












Page




Report of the Trustees  

1


to


3



Independent Examiner's Report  

4




Statement of Financial Activities  

5




Statement of Financial Position  

6


to


7



Notes to the Financial Statements  

8


to


16


6880 BETTON GRANGE (SOCIETY) LIMITED (REGISTERED NUMBER: 04785581)



REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 30 JUNE 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 30 June 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

To construct, operate and exhibit for public benefit and educational and instructional purposes locomotives of historic or scientific importance.

While many of the other Great Western classes survived into preservation, from a Class of 80 locomotives no 'Granges' survived the cutters torch. The 6880 Society was formed with the sole intention of recreating a Great Western 'Grange' class locomotive, which now completed becomes the 81st 'Grange'

Significant activities

On the 27th of April Betton Grange pulled carriages for the very first time. On board were some of the 120 members and guests who attended the official launch of 6880 Betton Grange at the Tyseley locomotive works on a wet and gloomy Saturday in Birmingham. That had followed an earlier test steaming witnessed by a handful of society directors and working members as our chairman Quentin McGuinness proudly opened the regulator for the very first time on Thursday the 11th of April.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

Entry into revenue earning traffic started at the Gloucestershire Warwickshire Steam Railway and took place in time for their Cotswold Festival of Steam Gala, and it was a proud moment for the directors and those members present to see 6880 pull its first revenue earning train out of Toddington on Friday the 25th of May.

Following the spell in the Cotswolds, Betton Grange moved onto the West Somerset Railway for a month in the summer followed by an extended stay at the North Norfolk Railway.

Fundraising activities

There are many ways we try to raise funds apart from membership fees that are paid on a monthly basis by a number of people.

Betton Grange have a sales stand that sells various branded goods, this stand goes to a number of events throughout the year. We also sell items via our website. Another way of raising funds is via our eBay page where we sell items that have been donated to us.

Easy Fundraising is another way that we raise funds along with having a TEXT Donate appeal on an ad hoc basis.

A number of new fund raising initiatives are now being launched to help with much needed cash reserves to enable the work to start on the building of a new tender suitable to operate long term with Betton Grange.

FINANCIAL REVIEW

Financial position

We are sure that all members and supporters are delighted by the news that Betton is at last in steam but there is still some way to go, as to get the locomotive complete has taken us significantly over budget and interest free loans had to be secured to see the work "over the line". With the boiler ticket already running  from last year, we had no choice other than to complete the work, as to put everything on hold whilst further funds were raised could have set us back at least a year or more.


The locomotive will now start earning steaming fees as it goes out on hire to various railways this year, but this alone will not be enough to repay the loans and pay for ongoing maintenance, so we need to continue our fundraising efforts to maximise our income over the coming years.



6880 BETTON GRANGE (SOCIETY) LIMITED (REGISTERED NUMBER: 04785581)



REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 30 JUNE 2024



FINANCIAL REVIEW

Principal funding sources

The principal fund raising sources are;

Membership fees
Donations
Sales events
Locomotive hire

Reserves policy

The trustees have no formal reserves policy but aim to maintain sufficient funds that allow a certain amount of financial security, but also to take advantage of opportunities to acquire spares and parts as they become available.

FUTURE PLANS

Attention will now turn to the building of our own tender for the locomotive. The Foxcote Manor Society have kindly allowed us to hire their tender whilst their locomotive is undergoing a full comprehensive 10 year overall. We have to raise the money to complete our own Collett 3,500 gallon tender as soon as possible and with a new tank required and the chassis to be built up from old components, which will need complete refurbishment, this is likely to cost us as much as £200,000. Construction will continue at Tyseley locomotive Works which remains our engineering base, we have many of the parts needed but inevitably a number of new parts will be required, as well as parts that need professional input for restoration.


We are pleased to be able to tell you that 6880 will travel from Norfolk to the Battlefield line in Leicestershire to provide steam power for Christmas, but beyond that, discussions are still taking place with a number of railways for locomotive hire in 2025.


Contracts have been exchanged following a recent meeting between the Gloucestershire Warwickshire Steam Railway (GWSR) and the 6880 Betton Grange Society, for the newly-built Great Western Railway-designed ‘Grange’ class 4-6-0 to be based on the Cotswold railway, for the foreseeable future.


STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The 6880 Betton Grange (Society) Limited is a charity established and governed by Memorandum and Articles of Association dated 3rd June 2003


Recruitment and appointment of new trustees

The appointment of new trustees are in accordance with the provisions held within the Company Memorandum and Articles of Association.

Related parties

5199 PROJECT: Members of this associated locomotive project formed the nucleus of the team that created The Betton Grange Society. There is a shared use of equipment owned by both Projects and some mutually acceptable swopping of certain components for practical reasons.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

04785581 (England and Wales)


Registered Charity number

1100537


Registered office

43 - 45 Devizes Road

Swindon

Wiltshire

SN1 4BG



6880 BETTON GRANGE (SOCIETY) LIMITED (REGISTERED NUMBER: 04785581)



REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 30 JUNE 2024



Trustees

Mr Q D McGuinness (resigned 28.7.24)

Mr D E Huntbatch

Mr P A Appleton

Mr R J Cadge

Mrs E McGuinness (resigned 28.7.24)

Mr C J Moore

Mrs L M Moore


Company Secretary

Mr I Sumbler FCCA


Independent Examiner

Mr S Nuttall FCA

McGills

Chartered Accountants

Oakley House

Tetbury Road

Cirencester

Gloucestershire

GL7 1US


STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of 6880 Betton Grange (Society) Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

-select suitable accounting policies and then apply them consistently;
-observe the methods and principles in the Charity SORP;
-make judgements and estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


Approved by order of the board of trustees on 6 January 2025 and signed on its behalf by:






Mr R J Cadge - Trustee


INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF

6880 BETTON GRANGE (SOCIETY) LIMITED



Independent examiner's report to the trustees of 6880 Betton Grange (Society) Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 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.









Mr S Nuttall FCA


McGills

Chartered Accountants

Oakley House

Tetbury Road

Cirencester

Gloucestershire

GL7 1US


14 February 2025



6880 BETTON GRANGE (SOCIETY) LIMITED



STATEMENT OF FINANCIAL ACTIVITIES

(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 30 JUNE 2024



2024


2023


Unrestricted


Total


funds


funds


Notes

£   

£   


INCOME AND ENDOWMENTS FROM

Donations and legacies

3

60,753


63,676



Charitable activities

5

Tender appeal

14,465


3,310


Locomotive fees

5,100


-



Other trading activities

4

2,516


1,755


Total

82,834


68,741



EXPENDITURE ON

Raising funds

2,262


850



Charitable activities

6

Administrative costs

3,402


5,720


Locomotive operating costs

35,712


7,033


Total

41,376


13,603



NET INCOME

41,458


55,138




RECONCILIATION OF FUNDS

Total funds brought forward

1,139,365


1,084,227



TOTAL FUNDS CARRIED FORWARD

1,180,823


1,139,365



6880 BETTON GRANGE (SOCIETY) LIMITED (REGISTERED NUMBER: 04785581)



STATEMENT OF FINANCIAL POSITION

30 JUNE 2024



2024


2023


Unrestricted


Total


funds


funds


Notes

£   

£   


FIXED ASSETS


Intangible assets

11

340


340


Tangible assets

12

807


1,077


Heritage assets

13

1,363,296


1,125,864


1,364,443


1,127,281



CURRENT ASSETS


Stocks

14

2,000


850


Debtors

15

13,620


17,640


Cash at bank and in hand

4,620


51,564


20,240


70,054



CREDITORS


Amounts falling due within one year

16

(183,860

)

(57,970

)


NET CURRENT ASSETS

(163,620

)

12,084



TOTAL ASSETS LESS CURRENT

LIABILITIES

1,200,823


1,139,365



CREDITORS


Amounts falling due after more than one

year


17

(20,000

)

-



NET ASSETS

1,180,823


1,139,365


FUNDS

19

Unrestricted funds

1,180,823


1,139,365


TOTAL FUNDS

1,180,823


1,139,365



The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.


6880 BETTON GRANGE (SOCIETY) LIMITED (REGISTERED NUMBER: 04785581)



STATEMENT OF FINANCIAL POSITION - continued

30 JUNE 2024




These financial statements have been prepared in accordance with and delivered in accordance with the special provisions applicable to small charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 6 January 2025 and were signed on its behalf by:






Mr R J Cadge - Trustee



6880 BETTON GRANGE (SOCIETY) LIMITED



NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024



1.

CHARITY INFORMATION



The company is a company limited by guarantee and incorporated in England and Wales, and a registered charity with the Charity Commission in England and Wales.



The registered office address is 43 -45 Devizes Road, Swindon, wiltshire SN1 4BG



These financial statements are presented in British Pounds (GBP), which is the charity's functional and presentational currency.


2.

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 2015)', 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.



Financial reporting standard 102 - reduced disclosure exemptions


The charity has taken exemption from preparing a cash flow statement under the charities SORP (FRS 102) Update Bulletin 1 issued on 2 February 2016, as the charity constitutes a small charity.



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.



Intangible asset


During 2018 the Charity created a 6880 trademark to help protect the brand image in use and in 2021 a second trademark was registered to further strengthen the brand image. In view of the relatively small costs involved, and longevity of the trademarks, no amortisation is being applied on the basis it would be immaterial to the accounts as a whole.



Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.



Marquee & Container

-

25% on reducing balance


Equipment

-

25% on reducing balance



Heritage assets

The Heritage assets are stated at historical cost, together with the accumulated costs of restoration to working order as incurred. Due to the special nature of the assets, it is considered impractical to adopt a policy of revaluation.

The trustees consider the assets each year in terms of impairment. Should any impairment arise this will be charged to the statement of financial activities in the year in which it occurs. Generally the trustees believe that assets appreciate in value and therefore no policy of depreciation is applied in order to show a true and fair view.




6880 BETTON GRANGE (SOCIETY) LIMITED



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2024



2.

ACCOUNTING POLICIES - continued



Heritage assets

The boiler is being treated as a component asset within the overall construction of the locomotive and is subject to depreciation at 10% straight line, starting at the point the 10 year boiler certificate was issued in April 2023.


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.

3.

DONATIONS AND LEGACIES


2024


2023

£   

£   



Donations

21,482


33,539




Gift aid

25,128


16,333




Members subscriptions

14,143


13,804



60,753


63,676




4.

OTHER TRADING ACTIVITIES


2024


2023

£   

£   



Sales

2,516


1,682




Other income

-


73



2,516


1,755






6880 BETTON GRANGE (SOCIETY) LIMITED



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2024



5.

INCOME FROM CHARITABLE ACTIVITIES


2024


2023


Activity

£   

£   



Tender appeal

Tender appeal

14,465


3,310




Locomotive fees

Locomotive fees

5,100


-



19,565


3,310




6.

CHARITABLE ACTIVITIES COSTS


Direct



Costs (see

Support



note 7)

costs

Totals

£   

£   

£   



Administrative costs

-


3,402


3,402




Locomotive operating costs

35,712


-


35,712



35,712


3,402


39,114




7.

DIRECT COSTS OF CHARITABLE ACTIVITIES


2024


2023

£   

£   



Hire of tender

6,450


-




Repairs and renewals

1,130


807




Event and membership costs

-


293




Depreciation

28,132


7,033



35,712


8,133




8.

NET INCOME/(EXPENDITURE)



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




2024


2023

£   

£   



Depreciation - owned assets

270


360




Depreciation - Betton Grange boiler

28,132


7,033




9.

TRUSTEES' REMUNERATION AND BENEFITS


There were no trustees' remuneration or other benefits for the year ended 30 June 2024 nor for the year ended 30 June 2023.



Trustees' expenses


There were no trustees' expenses paid for the year ended 30 June 2024 nor for the year ended 30 June 2023.




6880 BETTON GRANGE (SOCIETY) LIMITED



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2024



10.

COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES


Unrestricted


funds

£   



INCOME AND ENDOWMENTS FROM


Donations and legacies

63,676




Charitable activities


Tender appeal

3,310




Other trading activities

1,755



Total

68,741




EXPENDITURE ON


Raising funds

850




Charitable activities


Administrative costs

5,720



Locomotive operating costs

7,033



Total

13,603




NET INCOME

55,138





RECONCILIATION OF FUNDS


Total funds brought forward

1,084,227




TOTAL FUNDS CARRIED FORWARD

1,139,365



11.

INTANGIBLE FIXED ASSETS


Trademark

£   



COST


At 1 July 2023 and 30 June 2024

340




NET BOOK VALUE


At 30 June 2024

340




At 30 June 2023

340






6880 BETTON GRANGE (SOCIETY) LIMITED



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2024



12.

TANGIBLE FIXED ASSETS


Marquee &



Container


Equipment


Totals

£   

£   

£   



COST


At 1 July 2023 and 30 June 2024

8,722


14,666


23,388




DEPRECIATION


At 1 July 2023

8,150


14,161


22,311




Charge for year

143


127


270




At 30 June 2024

8,293


14,288


22,581




NET BOOK VALUE


At 30 June 2024

429


378


807




At 30 June 2023

572


505


1,077




13.

HERITAGE ASSETS


Total

£   



MARKET VALUE


At 1 July 2023

1,132,897




Additions

265,564




At 30 June 2024

1,398,461




PROVISIONS


At 1 July 2023

7,033




Charge for year

28,132




At 30 June 2024

35,165




NET BOOK VALUE


At 30 June 2024

1,363,296




At 30 June 2023

1,125,864




Heritage assets comprise Betton Grange (now operational), plus £40,000 the society paid in February 2010 for the unrestored locomotive 5952 Cogan Hall.

The front bogie of Cogan Hall has been removed to assist in the construction of 6880 Betton Grange. The 6880 Society have promised that Cogan Hall will be restored in her own right and their long-term aim is to have both 6880 and 5952 working together

The boiler was kindly donated to 6880 by the Vale of Glamorgan Council from their unrestored locomotive 7927 Willington Hall. 6880 carried the Barry Shedplate code 88C as a recognition of this valuable donation when unveiled to the members in April.



6880 BETTON GRANGE (SOCIETY) LIMITED



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2024



14.

STOCKS

2024

2023


£   

£   



Stocks

2,000


850




15.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023


£   

£   



Trade debtors

6,120


-




Other debtors

7,500


12,500




VAT

-


5,140



13,620


17,640




16.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023


£   

£   



Other loans (see note 18)

140,000


20,000




Trade creditors

43,578


37,745




VAT

57


-




Accrued expenses

225


225



183,860


57,970




17.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023


£   

£   



Other loans (see note 18)

20,000


-




18.

LOANS



An analysis of the maturity of loans is given below:


2024

2023


£   

£   



Amounts falling due within one year on demand:


Other loans

40,000


20,000




Trustee loans

70,000


-




Related party loan

30,000


-



140,000


20,000




Amounts falling between one and two years:


Related party loan

20,000


-





A member of the Society kindly provided a number of years ago an interest free loan of £20,000 to help with the funding of the Boiler refurbishment.



Further funds have been sought this year to help with the completion of the locomotive. The trustees felt this was an important step to take as the boiler certificate was "ticking" and any more time lost completing the build would be detrimental to the project as a whole.


- a member kindly provided  £20,000 to be used for this,


- the trustees provided £70,000 of their own monies to help.


- a formal loan was drawn up between the Society and 5199 Project which has repayment terms over  20 months starting in August 2024.



6880 BETTON GRANGE (SOCIETY) LIMITED



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2024



19.

MOVEMENT IN FUNDS


Net


Transfers




movement


between


At



At 1.7.23


in funds


funds


30.6.24


£   

£   

£   

£   



Unrestricted funds


General fund

860,128


55,125


35,604


950,857




Boiler appeal

254,287


(28,132

)

-


226,155




Tender appeal

24,950


14,465


(35,604

)

3,811



1,139,365


41,458


-


1,180,823




TOTAL FUNDS

1,139,365


41,458


-


1,180,823





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



Incoming


Resources


Movement



resources


expended


in funds


£   

£   

£   



Unrestricted funds


General fund

68,369


(13,244

)

55,125




Boiler appeal

-


(28,132

)

(28,132

)



Tender appeal

14,465


-


14,465



82,834


(41,376

)

41,458




TOTAL FUNDS

82,834


(41,376

)

41,458






Comparatives for movement in funds



Net




movement


At



At 1.7.22


in funds


30.6.23


£   

£   

£   



Unrestricted funds


General fund

801,267


58,861


860,128




Boiler appeal

261,320


(7,033

)

254,287




Tender appeal

21,640


3,310


24,950



1,084,227


55,138


1,139,365




TOTAL FUNDS

1,084,227


55,138


1,139,365





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



Incoming


Resources


Movement



resources


expended


in funds


£   

£   

£   



Unrestricted funds


General fund

65,431


(6,570

)

58,861




Boiler appeal

-


(7,033

)

(7,033

)



Tender appeal

3,310


-


3,310



68,741


(13,603

)

55,138




TOTAL FUNDS

68,741


(13,603

)

55,138





6880 BETTON GRANGE (SOCIETY) LIMITED



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2024



19.

MOVEMENT IN FUNDS - continued



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



Net


Transfers




movement


between


At



At 1.7.22


in funds


funds


30.6.24


£   

£   

£   

£   



Unrestricted funds


General fund

801,267


113,986


35,604


950,857




Boiler appeal

261,320


(35,165

)

-


226,155




Tender appeal

21,640


17,775


(35,604

)

3,811



1,084,227


96,596


-


1,180,823




TOTAL FUNDS

1,084,227


96,596


-


1,180,823





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

133,800


(19,814

)

113,986




Boiler appeal

-


(35,165

)

(35,165

)



Tender appeal

17,775


-


17,775



151,575


(54,979

)

96,596




TOTAL FUNDS

151,575


(54,979

)

96,596





Transfers between funds



The trustees chose to utilise funds that had been collected with the purpose of supporting the Tender appeal, to help with the financing of the locomotive completion. This equated to an amount "borrowed" from this fund of £35,604 and is shown above.


20.

RELATED PARTY DISCLOSURES


5199 PROJECT: Members of this associated locomotive project formed the nucleus of the team that created The Betton Grange Society. There is a shared use of equipment owned by both Projects and some mutually acceptable swopping of certain components for practical reasons.

A loan from the 5199 Project was given to the Society to help support the completion costs of the engine build. Formal documentation was drawn up and the loan will be repaid over the course of the next 20 months as disclosed in note 18 to these accounts.



6880 BETTON GRANGE (SOCIETY) LIMITED



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2024



21.

ULTIMATE CONTROLLING PARTY


There is no one ultimate controlling party. Control of the charitable company lies with the trustees.

22.

MEMBERS GUARANTEE



The company is limited by the guarantee of the members. The liability of the members is limited to £10 on the winding up of the company.