REGISTERED COMPANY NUMBER: 07281796 (England and Wales)

REGISTERED CHARITY NUMBER: 1146990

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

MALTON DODGER LIMITED

Page

Report of the Trustees

1

to

3

Independent Examiner's Report

4

Statement of Financial Activities

5

Balance Sheet

6

to

7

Notes to the Financial Statements

8

to

13

Malton Dodger Ltd was formed to take over the activities of the 'Yorkshire Wolds Railway Restoration Project' and this took place on 1st January 2011. All funds held by the original group were transferred on that date. "Yorkshire Wolds Railway" (YWR) is now the operating name of Malton Dodger Ltd

OBJECTIVES AND ACTIVITIES

Objectives and aims

The company has constructed a Visitor Centre and is developing an operational heritage railway on part of the trackbed of the former Malton & Driffield Junction Railway.

The objectives are to establish and develop a popular heritage attraction in the East Riding of Yorkshire, promoting education and training.

The charity trustees have complied with the duty in section 4 of the 2011 Act to have due regard to guidance on public benefit published by the Commission.

Public benefit

Being a heritage railway, there is an advancement of culture & heritage together with a public educational benefit.

There is a small museum at Fimber Halt detailing the story of the railway & many unique artefacts have been collected for the public to see. There is specifically a volunteer on hand to inform visitors.

Many presentations about the region's local history & the progress of the railway's restoration are given to local groups. Dedicated running sessions are also provided for interested parties. A record number of regional shows were attended during the year, educating the public about local history and the progress of the YWR.

During 2024, the joint venture with the Hull & Barnsley Railway (HBR) Stock Fund to install and restore an ex-HBR signal box saw the building gain some mechanical equipment from a defunct local railway structure.

The volunteer working teams again continue to increase in size & regularity. They provide skills training & a mutual interest for many participators from the local community. All volunteers are welcome, subject to certain safety & minimum age requirements.

Reports of the railway's progress are regularly made through the quarterly "Malton Dodger" newsletter, together with the railway's website & discussion forum, as well as other social media outlets and newspapers. The YWR also featured in a television programme, bringing welcome national publicity.

The charity trustees have complied with their duty to have due regard to the guidance on public benefit published by the Commission in exercising their powers or duties.

Volunteers

The Yorkshire Wolds Railway is staffed entirely by volunteers, both on & off site. There are no paid workers.

The directors wish to thank all those members & other supporters who have contributed to the railway's success to date.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

2024 saw visitor numbers increase again together with many 'Driver Experiences' being given. More presentations were delivered to local groups both on and off site.

The shop was relocated for the 2025 season into the vacant coach, further improving accessibility and the visitor experience.

Training for operational volunteers was progressed again. Such training is evidenced as part of the volunteers' competence management system.

The YWR entered into an agreement with the Farwath Area Rolling Stock Team to bring several items of rolling stock to the railway, together with many experienced volunteers. This arrangement has proved very beneficial to both partes and the visiting public.

Displays from local archeology & photographic groups contributed to the increasing 'heritage hub' status to enable the public to visit various offerings within one site, improving sustainability.

Operating income and donations towards the infrastructure and rolling stock funds allowed further restoration work to continue.

During the year, planning permission was granted for a new "Visitor Centre & Working Facility" which was partly built before the year end. This structure is part-funded by the "UK Shared Prosperity Fund" following a successful application at the start of the year.

The building will provide covered space for public displays as well as the ability to view and learn about ongoing projects. In 2025 the YWR will have secure covered accommodation for the first time in its history.

Developments

Operating income & donations towards the Infrastructure & Rolling Stock funds allowed further restoration work to continue.

FINANCIAL REVIEW

Financial position

The company is in a sound financial position with net assets increasing again in the year.

Additionally, many of the assets are stated at depreciated cost (including refurbishments) & generally these values are substantially lower than their market value.

Fundraising activities

The company raised funds during the year to achieve its objectives including increased operational income & special events such as the annual Model Railway show.

Donations were welcomed again during 2024 enabling the railway to improve its visitor experience. The level of donations increased over the 2023 level mainly due to the supporting of specific purchases.

Reserves policy

Some of the reserves are restricted funds which have formerly been treated in the financial statements as Endowment Funds. However, the actual nature of these funds is that of Revenue Funds and accordingly the treatment has been adjusted in these financial statements and the previous year's results have been restated.

The effect of the revised policy is for the restricted funds to be recognised as the balances of monies remaining in associated bank accounts rather than treating the relevant acquired assets as restricted assets.

Such assets previously treated as restricted assets have now been recognised as general assets via a disposal & acquisition adjustment. The net effect is shown as "Transfers between funds" (page 5 and notes 1 & 13).

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a company limited by guarantee, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

07281796 (England and Wales)

Registered Charity number

1146990

Registered office

Fimber Halt

Beverley Road

Fimber

Driffield

East Yorkshire

YO25 3HG

Trustees

J Lidster Retired (resigned 1.7.2024)

I Merino Infrastructure Director

P M Robson Finance Director

M Brown Media & Membership Director

Ms C Bowser Business Development Director

M Jones Operations Director

J.R. Lane Health and Safety Director

G Bailey Diesel traction director (resigned 1.7.2024)

S Barraclough Rolling Stock Director (appointed 1.7.2024)

Company Secretary

I Merino

Independent Examiner

Geoff Mountain

Jackson Robson Licence Limited

33-35 Exchange Street

Driffield

East Yorkshire

YO25 6LL

Approved by order of the board of trustees on 19 June 2025 and signed on its behalf by:

M Brown - Trustee

Independent examiner's report to the trustees of Malton Dodger Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 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.

Geoff Mountain

The Institute of Chartered Accountants in England and Wales

Jackson Robson Licence Limited

33-35 Exchange Street

Driffield

East Yorkshire

YO25 6LL

23 June 2025

2024

2023

Unrestricted

Restricted

Total

Total

fund

funds

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

37,442

-

37,442

15,311

Charitable activities

General

9,889

-

9,889

7,240

Other trading activities

2

43,715

-

43,715

24,201

Investment income

3

364

-

364

257

Total

91,410

-

91,410

47,009

EXPENDITURE ON

Raising funds

20,140

-

20,140

16,101

Charitable activities

General

38,711

-

38,711

29,098

Total

58,851

-

58,851

45,199

NET INCOME

32,559

-

32,559

1,810

Transfers between funds

12

1,475

(1,475

)

-

-

Net movement in funds

34,034

(1,475

)

32,559

1,810

RECONCILIATION OF FUNDS

Total funds brought forward

133,459

12,126

145,585

143,775

TOTAL FUNDS CARRIED FORWARD

167,493

10,651

178,144

145,585

2024

2023

Unrestricted

Restricted

Total

Total

fund

funds

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

7

181,247

-

181,247

144,922

CURRENT ASSETS

Stocks

8

50

-

50

300

Debtors

9

4,459

-

4,459

4,197

Cash at bank and in hand

37,445

10,650

48,095

33,908

41,954

10,650

52,604

38,405

CREDITORS

Amounts falling due within one year

10

(1,358

)

1

(1,357

)

1

NET CURRENT ASSETS

40,596

10,651

51,247

38,406

TOTAL ASSETS LESS CURRENT LIABILITIES

221,843

10,651

232,494

183,328

ACCRUALS AND DEFERRED INCOME

11

(54,350

)

-

(54,350

)

(37,743

)

NET ASSETS

167,493

10,651

178,144

145,585

FUNDS

12

Unrestricted funds

167,493

133,459

Restricted funds

10,651

12,126

TOTAL FUNDS

178,144

145,585

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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

The financial statements were approved by the Board of Trustees and authorised for issue on 21 June 2025 and were signed on its behalf by:

I Merino - Trustee

1.	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 2019)', 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, with the exception of investments which are included at market value.

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.

Tangible fixed assets

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

Equipment

-

10% on reducing balance

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.

2.	OTHER TRADING ACTIVITIES

2024

2023

£

£

Fundraising

5,600

3,621

Sales

32,791

20,347

Sponsorship

278

233

Scrap sales

5,046

-

43,715

24,201

3.	INVESTMENT INCOME

2024

2023

£

£

Interest received

364

257

4.	NET INCOME/(EXPENDITURE)

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

2024

2023

£

£

Depreciation - owned assets

20,140

96,607

5.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.

6.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

fund

funds

funds

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

14,223

1,088

15,311

Charitable activities

General

7,240

-

7,240

Other trading activities

24,202

(1

)

24,201

Investment income

135

122

257

Total

45,800

1,209

47,009

EXPENDITURE ON

Raising funds

16,102

(1

)

16,101

Charitable activities

General

29,098

-

29,098

Total

45,200

(1

)

45,199

NET INCOME

600

1,210

1,810

Transfers between funds

40,527

(40,527

)

-

Net movement in funds

41,127

(39,317

)

1,810

RECONCILIATION OF FUNDS

Total funds brought forward

92,332

51,443

143,775

TOTAL FUNDS CARRIED FORWARD

133,459

12,126

145,585

7.	TANGIBLE FIXED ASSETS

Rolling

Buildings

stock

Equipment

Infrastructure

Totals

£

£

£

£

£

COST

At 1 January 2024

28,237

37,395

46,985

143,768

256,385

Additions

44,982

7,763

-

3,720

56,465

At 31 December 2024

73,219

45,158

46,985

147,488

312,850

DEPRECIATION

At 1 January 2024

8,843

13,729

18,067

70,824

111,463

Charge for year

6,437

3,144

2,892

7,667

20,140

At 31 December 2024

15,280

16,873

20,959

78,491

131,603

NET BOOK VALUE

At 31 December 2024

57,939

28,285

26,026

68,997

181,247

At 31 December 2023

19,394

23,666

28,918

72,944

144,922

Comparative figures for depreciation include 'depreciation on disposals', reflecting the change in accounting policy for reserves & the consequent 'disposals' & 'acquisitions' of assets under revised funds.

8.

STOCKS

2024

2023

£

£

Stock of regalia

50

300

9.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Prepayments

4,459

4,197

10.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

-

(1

)

Other creditors

1,357

-

1,357

(1

)

11.	ACCRUALS AND DEFERRED INCOME

2024

2023

£

£

Grant accrued income

54,350

37,743

12.	MOVEMENT IN FUNDS

Net

Transfers

movement

between

At

At 1.1.24

in funds

funds

31.12.24

£

£

£

£

Unrestricted funds

General fund

133,459

32,559

1,475

167,493

Restricted funds

Infrastructure

1,012

-

180

1,192

Rolling stock

11,114

-

(1,655

)

9,459

12,126

-

(1,475

)

10,651

TOTAL FUNDS

145,585

32,559

-

178,144

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

91,410

(58,851

)

32,559

TOTAL FUNDS

91,410

(58,851

)

32,559

Comparatives for movement in funds

Net

Transfers

movement

between

At

At 1.1.23

in funds

funds

31.12.23

£

£

£

£

Unrestricted funds

General fund

92,332

600

40,527

133,459

Restricted funds

Infrastructure

45,195

11

(44,194

)

1,012

Rolling stock

6,248

1,199

3,667

11,114

51,443

1,210

(40,527

)

12,126

TOTAL FUNDS

143,775

1,810

-

145,585

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

45,800

(45,200

)

600

Restricted funds

Infrastructure

10

1

11

Rolling stock

1,199

-

1,199

1,209

1

1,210

TOTAL FUNDS

47,009

(45,199

)

1,810

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

Net

Transfers

movement

between

At

At 1.1.23

in funds

funds

31.12.24

£

£

£

£

Unrestricted funds

General fund

92,332

33,159

42,002

167,493

Restricted funds

Infrastructure

45,195

11

(44,014

)

1,192

Rolling stock

6,248

1,199

2,012

9,459

51,443

1,210

(42,002

)

10,651

TOTAL FUNDS

143,775

34,369

-

178,144

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

137,210

(104,051

)

33,159

Restricted funds

Infrastructure

10

1

11

Rolling stock

1,199

-

1,199

1,209

1

1,210

TOTAL FUNDS

138,419

(104,050

)

34,369

13.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2024.