Company Registration No. 01438691 (England and Wales)
THE ASSOCIATION OF MODEL RAILWAY CLUBS WALES AND WEST OF ENGLAND LIMITED
(A COMPANY LIMITED BY GUARANTEE)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
THE ASSOCIATION OF MODEL RAILWAY CLUBS WALES AND WEST OF ENGLAND LIMITED
(A COMPANY LIMITED BY GUARANTEE)
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
3 - 5
THE ASSOCIATION OF MODEL RAILWAY CLUBS WALES AND WEST OF ENGLAND LIMITED
(A COMPANY LIMITED BY GUARANTEE)
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
4
7,507
84
Cash at bank and in hand
8,257
12,185
15,764
12,269
Creditors: amounts falling due within one year
5
(2,095)
(1,485)
Net current assets
13,669
10,784
Reserves
Loans from registered clubs
6
8,880
9,430
Income and expenditure account
4,789
1,354
Association funds
13,669
10,784

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 12 September 2025 and are signed on its behalf by:
Mr. M.C. Tucker
Director
Company Registration No. 01438691
THE ASSOCIATION OF MODEL RAILWAY CLUBS WALES AND WEST OF ENGLAND LIMITED
(A COMPANY LIMITED BY GUARANTEE)
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
Income and expenditure
Total
£
£
£
Balance at 1 January 2023
9,430
(1,941)
7,489
Year ended 31 December 2023:
Surplus and total comprehensive income
-
3,295
3,295
Balance at 31 December 2023
9,430
1,354
10,784
Year ended 31 December 2024:
Surplus and total comprehensive income
-
3,435
3,435
Other movements
(550)
-
(550)
Balance at 31 December 2024
8,880
4,789
13,669
THE ASSOCIATION OF MODEL RAILWAY CLUBS WALES AND WEST OF ENGLAND LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

The Association Of Model Railway Clubs Wales And West of England Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Granta Lodge, 71 Graham Road, Malvern, Worcestershire, WR14 2JS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The Board of Directors sought to generate external sources of funding whilst constantly reviewing the financial position and were successful in acquiring support from a third party for staged events. This together with the continued support of the registered clubs not requiring repayment of their loans, has enabled the deficit position on reserves to be eradicated and the going concern position of the Association to be preserved.

1.3
Income and expenditure

Income and expenses are included in the financial statements as they become receivable or due.

Expenses include VAT where applicable as the company cannot reclaim it.

1.4
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities are classified according to the substance of the contractual arrangements entered into.

THE ASSOCIATION OF MODEL RAILWAY CLUBS WALES AND WEST OF ENGLAND LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons employed by the company during the year was:

2024
2023
Number
Number
Total
0
0
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
7,467
-
0
Prepayments and accrued income
40
84
7,507
84
5
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
550
-
Accruals and deferred income
1,545
1,485
2,095
1,485
6
Loans from registered clubs
THE ASSOCIATION OF MODEL RAILWAY CLUBS WALES AND WEST OF ENGLAND LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
6
Loans from registered clubs
(Continued)
- 5 -

Loans have been received from member clubs to support the activities of the company. The loans are unsecured and interest free. As already noted, the clubs concerned have advised that they will not demand repayment such the the going concern position of the company is jeopardised.

£550 is repayable in the year ending 31 December 2025, therefore has been recognised within creditors: amounts falling due within one year.

7
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

Attention was drawn to note 1.2 where the circumstances were outlined that enabled the directors to presume that the Association is a going concern.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its surplus for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Mark Ashworth BA FCA
Statutory Auditor:
Kendall Wadley LLP
Date of audit report:
12 September 2025
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