IRIS Accounts Production v25.1.3.33 02555576 Board of Directors 1.1.24 31.12.24 31.12.24 9.5.25 false true false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh025555762023-12-31025555762024-12-31025555762024-01-012024-12-31025555762022-12-31025555762023-01-012023-12-31025555762023-12-3102555576ns15:EnglandWales2024-01-012024-12-3102555576ns14:PoundSterling2024-01-012024-12-3102555576ns10:Director12024-01-012024-12-3102555576ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3102555576ns10:SmallEntities2024-01-012024-12-3102555576ns10:Audited2024-01-012024-12-3102555576ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-12-3102555576ns10:SmallCompaniesRegimeForAccounts2024-01-012024-12-3102555576ns10:AbridgedAccounts2024-01-012024-12-3102555576ns10:Director22024-01-012024-12-3102555576ns10:Director32024-01-012024-12-3102555576ns10:Director42024-01-012024-12-3102555576ns10:Director62024-01-012024-12-3102555576ns10:CompanySecretary12024-01-012024-12-3102555576ns10:RegisteredOffice2024-01-012024-12-3102555576ns5:CurrentFinancialInstruments2024-12-3102555576ns5:CurrentFinancialInstruments2023-12-3102555576ns5:ShareCapital2024-12-3102555576ns5:ShareCapital2023-12-3102555576ns5:RetainedEarningsAccumulatedLosses2024-12-3102555576ns5:RetainedEarningsAccumulatedLosses2023-12-3102555576ns5:PlantMachinery2024-01-012024-12-3102555576ns5:RetainedEarningsAccumulatedLosses2023-12-3102555576ns5:RetainedEarningsAccumulatedLosses2024-01-012024-12-31
REGISTERED NUMBER: 02555576 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

FFESTINIOG RAILWAY HOLDINGS LIMITED

FFESTINIOG RAILWAY HOLDINGS LIMITED (REGISTERED NUMBER: 02555576)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


FFESTINIOG RAILWAY HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: Mr N F Burbidge
Mr A Heywood
Mr D Jones
Mr W J Oates
Mrs M Cook





SECRETARY: Mr D Jones





REGISTERED OFFICE: Former St Mary's Church
Church Street
Tremadog
Porthmadog
LL49 9RA





REGISTERED NUMBER: 02555576 (England and Wales)





AUDITORS: Williams Denton Cyf
Chartered Certified Accountants
Statutory Auditors
Glaslyn
Ffordd y Parc
Parc Menai
Bangor
Gwynedd
LL57 4FE

FFESTINIOG RAILWAY HOLDINGS LIMITED (REGISTERED NUMBER: 02555576)

ABRIDGED BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 253,157 301,991
Cash at bank and in hand 1,123,481 1,073,276
1,376,638 1,375,267
CREDITORS
Amounts falling due within one year 777,015 818,306
NET CURRENT ASSETS 599,623 556,961
TOTAL ASSETS LESS CURRENT
LIABILITIES

599,623

556,961

CAPITAL AND RESERVES
Called up share capital 30,000 30,000
Retained earnings 5 569,623 526,961
SHAREHOLDERS' FUNDS 599,623 556,961

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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 9 May 2025 and were signed on its behalf by:





Mrs M Cook - Director


FFESTINIOG RAILWAY HOLDINGS LIMITED (REGISTERED NUMBER: 02555576)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

Ffestiniog Railway Holdings Limited is a private company, limited by shares , 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
The company's revenue is measured as the aggregate amount of gross revenue receivable from inclusive tours, airline travel services, hotel services, travel agency commission and other travel services supplied to customers in the ordinary course of business. The company records revenue on a net basis after deducting trade discounts and value added tax.

Revenue relating to travel services including travel agency commission and other services, are taken to the income statement on the date of holiday and flight departure. Revenue relating to other services provided by the company is taken to the income statement as earned. Revenue from the sale of goods is recognised when all the significant risks and rewards of ownership is transferred to the customer, usually on delivery of the goods. Monies received by the balance sheet date relating to holidays commencing and flights departing after the period end are included within current liabilities as revenue received in advance.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

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.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

FFESTINIOG RAILWAY HOLDINGS LIMITED (REGISTERED NUMBER: 02555576)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2024
and 31 December 2024 41,620
DEPRECIATION
At 1 January 2024
and 31 December 2024 41,620
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

5. RESERVES
Retained
earnings
£   

At 1 January 2024 526,961
Profit for the year 352,662
Gift aid payment to parent (310,000 )
At 31 December 2024 569,623

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

The Report of the Auditors was unqualified.

Martin Steven Barrett (Senior Statutory Auditor)
for and on behalf of Williams Denton Cyf

FFESTINIOG RAILWAY HOLDINGS LIMITED (REGISTERED NUMBER: 02555576)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


7. RELATED PARTY DISCLOSURES

The following transactions took place during the year with related parties:

The Festiniog Railway Company, a fellow subsidiary, provides staff and office services for the company under a management agreement. During the year £283,055 (2023: £242,783) was payable under this agreement.

The Festiniog Railway Company also sold travel tickets to the company amounting to £17,510 (2023: £9,201)

Payments of £21,000 (2023: £21,525) were made in the year to an entity for the co-ordination and supply of marketing services to the company. This entity is run by the wife of a Director of the company (NF Burbidge).