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Registered number: 01184883









COLNE VALLEY RAILWAY COMPANY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
COLNE VALLEY RAILWAY COMPANY LIMITED
REGISTERED NUMBER: 01184883

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Investment property
 4 
200,000
250,000

CURRENT ASSETS
  

Debtors
 5 
123,288
245,655

Current asset investments
 6 
600
600

Cash at bank and in hand
  
951,150
772,009

  
1,075,038
1,018,264

Creditors: amounts falling due within one year
 7 
(166,021)
(168,253)

NET CURRENT ASSETS
  
 
 
909,017
 
 
850,011

PROVISIONS FOR LIABILITIES
  

Deferred tax
 8 
(10,932)
(13,340)

NET ASSETS
  
1,098,085
1,086,671


CAPITAL AND RESERVES
  

Called up share capital 
 9 
10,000
10,000

Profit and loss account
  
1,088,085
1,076,671

  
1,098,085
1,086,671


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Page 1

 
COLNE VALLEY RAILWAY COMPANY LIMITED
REGISTERED NUMBER: 01184883
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




C Young
Director

Date: 23 March 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
COLNE VALLEY RAILWAY COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


GENERAL INFORMATION

Colne Valley Railway Company Limited is a private company limited by shares and incorporated in England and Wales.  Its registered office address is Salisbury House, Station Road, Cambridge, CB1 2LA.  Its principal place of business is Colne Valley Railway, Castle Hedingham, Halstead, CO9 3DZ.
The Company's functional and presentational currency is GBP.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
2.3

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Page 3

 
COLNE VALLEY RAILWAY COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

INVESTMENT PROPERTY

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.5

VALUATION OF INVESTMENTS

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and Loss Account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.6

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


EMPLOYEES

The Company has no employees other than the director, who did not receive any remuneration (2023 - Nil).


Page 4

 
COLNE VALLEY RAILWAY COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


INVESTMENT PROPERTY


Freehold investment property

£



VALUATION


At 1 July 2023
250,000


Disposals
(50,000)



AT 30 JUNE 2024
200,000

The 2024 valuations were made by the director, on an open market value for existing use basis.







5.


DEBTORS

2024
2023
£
£



Other debtors
123,288
202,757

Tax recoverable
-
42,898

123,288
245,655


Other debtors is comprised of a related company loan on which interest is charged at commercial rates.


6.


CURRENT ASSET INVESTMENTS

2024
2023
£
£

Unlisted investments
600
600


Page 5

 
COLNE VALLEY RAILWAY COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Corporation tax
388
-

Other creditors
162,333
165,253

Accruals and deferred income
3,300
3,000

166,021
168,253



8.


DEFERRED TAXATION




2024


£






At beginning of year
13,340


Charged to profit or loss
(2,408)



AT END OF YEAR
10,932

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Tax on unrealised revaluation gains
10,932
13,340


9.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



10,000 (2023 - 10,000) Ordinary shares of £1 each
10,000
10,000


 
Page 6

 
COLNE VALLEY RAILWAY COMPANY LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF COLNE VALLEY RAILWAY COMPANY LIMITED
FOR THE YEAR ENDED 30 JUNE 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Colne Valley Railway Company Limited for the year ended 30 June 2024 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of Colne Valley Railway Company Limited in accordance with the terms of our engagement letter dated 28 February 2023Our work has been undertaken solely to prepare for your approval the financial statements of Colne Valley Railway Company Limited and state those matters that we have agreed to state to the director of Colne Valley Railway Company Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Colne Valley Railway Company Limited and its director for our work or for this report. 

It is your duty to ensure that Colne Valley Railway Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Colne Valley Railway Company Limited. You consider that Colne Valley Railway Company Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Colne Valley Railway Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Peters Elworthy & Moore
 
Chartered Accountants
  
Cambridge
 
Date: 
24 March 2025
 Page 7