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Registration number: NI030901

The Giant's Causeway and Bushmills Railway
(A company limited by guarantee)
Unaudited Filleted Financial Statements
for the Year Ended 31 December 2024

The Giant's Causeway and Bushmills Railway

(Registration number: NI030901)
Balance Sheet as at 31 December 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Tangible assets | 4 | 251,460 | 263,156
Current assets |  |  |
Stocks |  | 400 | 400
Debtors | 5 | 1,035 | 942
Cash at bank and in hand |  | 184,894 | 141,941
|  | 186,329 | 143,283
Creditors: Amounts falling due within one year | 6 | (22,977) | (15,463)
Net current assets |  | 163,352 | 127,820
Net assets |  | 414,812 | 390,976
Other long term creditors |  | 362,563 | 362,563
Funds of the charity |  |  |
Unrestricted funds |  | 52,249 | 28,413
Total funds |  | 414,812 | 390,976

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

The Giant's Causeway and Bushmills Railway

(Registration number: NI030901)
Balance Sheet as at 31 December 2024

Approved and authorised by the Board on 14 August 2025 and signed on its behalf by:

......................................... Mr Seymour Sweeney Director

The Giant's Causeway and Bushmills Railway

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1 | General information

The Company is a Company limited by guarantee, incorporated in Northern Ireland, and consequently does not have share capital. The Company is a registered Charity (reference XR20821) and a public benefit entity which works to advance the education of the public in terms of the history and backgroud to the World's first Hydro electric Tramway.

The address of its registered office is: The Old Barn, 6 Seaport Avenue, Portballintrae, Bushmills Co Antrim, Co Antrim, BT57 8SB.

These financial statements were authorised for issue by the Board on 14 August 2025.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime). They also comply with the 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 (Charities SORP (FRS 102)) and Charities Act 2008.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

The Giant's Causeway and Bushmills Railway

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Income recognition

Incoming resources are included in the Statement of Financial Activities when the Charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. Incoming resources include income from sales of service.
For donations to be recognised the Charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to that donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the Charity and it is probable that they will be fulfilled.
Income from government grants are recognised at fair value when the Charity has entitlement after performance conditions are met, and it is probably that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.

Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful life as follows:

Asset class | Depreciation method and rate
Freehold land and buildings | 2% straight line basis
Plant and equipment | 25% straight line basis
Motor vehicles | 25% reducing balance basis
Rolling stock | 5% straight line basis
Rolling stock held for investment | Nil

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

The Giant's Causeway and Bushmills Railway

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Stocks

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO) method.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2023 - 8).

4 | Tangible assets

| Land and buildings £ | Plant and equipment £ | Total £
Cost or valuation
At 1 January 2024 | 328,680 | 320,370 | 649,050
At 31 December 2024 | 328,680 | 320,370 | 649,050
Depreciation
At 1 January 2024 | 249,705 | 136,189 | 385,894
Charge/(credit) for the year | 6,574 | 5,122 | 11,696
At 31 December 2024 | 256,279 | 141,311 | 397,590
Carrying amount
At 31 December 2024 | 72,401 | 179,059 | 251,460
At 31 December 2023 | 78,975 | 184,181 | 263,156

The Giant's Causeway and Bushmills Railway

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5 | Debtors

| 2024 £ | 2023 £
Other debtors | 1,035 | 942
| 1,035 | 942

6 | Creditors

Creditors: amounts falling due within one year

| 2024 £ | 2023 £
Due within one year |  |
Trade creditors | 3,246 | 8,378
Other creditors | 19,731 | 7,085
| 22,977 | 15,463

7 | Other long term creditors

| 2024 £ | 2023 £
Other loans | 362,563 | 362,563