Brecon Mountain Railway Company Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01409791 (England and Wales)

BRECON MOUNTAIN RAILWAY COMPANY

LIMITED(THE)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

M C Hills

REGISTERED OFFICE:

Pant Station

Pontsticill

Merthyr Tydfil

Mid Glamorgan

CF48 2UP

REGISTERED NUMBER:

01409791 (England and Wales)

ACCOUNTANTS:

MHA (trading name of MHA Advisory Ltd)

Elfed House

Oak Tree Court

Cardiff Gate Business Park

CARDIFF

County of Cardiff

CF23 8RS

FIXED ASSETS

Tangible assets

4

332,458

381,842

CURRENT ASSETS

Stocks

44,927

9,562

Debtors

5

53,092

7,079

Cash at bank and in hand

1,075,878

874,381

1,173,897

891,022

CREDITORS

Amounts falling due within one year

6

(392,100

)

(271,947

)

NET CURRENT ASSETS

781,797

619,075

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,114,255

1,000,917

PROVISIONS FOR LIABILITIES

(25,056

)

(27,016

)

NET ASSETS

1,089,199

973,901

CAPITAL AND RESERVES

Called up share capital

7

100

Retained earnings

1,089,099

973,801

SHAREHOLDERS' FUNDS

1,089,199

973,901

The 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 director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which 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 company as at the end of each financial year and of its profit or loss 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 company.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 October 2025 and were signed by:

M C Hills - Director

1.	STATUTORY INFORMATION

Brecon Mountain Railway Company Limited(The) 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.

The company's functional and presentation currency in the financial statements is the Sterling (£), rounded to the nearest pound.

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

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.

There have been no material departures from Financial Reporting Standard 102 1A.

Turnover

Turnover represents amounts billed and billable in respect of train fare sales and café sales during the year, excluding value added tax.

Tangible fixed assets

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

Property

2% on cost

Locomotives and rolling stock

4% on cost and 2% on cost

Plant & machinery

10% on cost

Fixtures & fittings

20% on cost

Motor vehicles

25% on reducing balance

Land is not depreciated.

Stocks

Stocks are valued at the lower of cost and estimated selling price less cost to sell, after making due allowance for obsolete and slow moving items.

Current tax

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantively enacted at 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.

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 31 (2023 - 29 ) .

4.	TANGIBLE FIXED ASSETS

Locomotives

Land and

& Rolling

Plant and

Property

Stock

machinery

£

COST

At 1 January 2024

331,884

278,869

204,374

Additions

-

2,838

At 31 December 2024

331,884

278,869

207,212

DEPRECIATION

At 1 January 2024

219,519

133,174

121,791

Charge for year

6,296

5,917

16,414

At 31 December 2024

225,815

139,091

138,205

NET BOOK VALUE

At 31 December 2024

106,069

139,778

69,007

At 31 December 2023

112,365

145,695

82,583

Fixtures

and

Motor

Fittings

vehicles

Totals

£

COST

At 1 January 2024

238,701

16,000

1,069,828

Additions

-

2,838

At 31 December 2024

238,701

16,000

1,072,666

DEPRECIATION

At 1 January 2024

205,002

8,500

687,986

Charge for year

21,720

1,875

52,222

At 31 December 2024

226,722

10,375

740,208

NET BOOK VALUE

At 31 December 2024

11,979

5,625

332,458

At 31 December 2023

33,699

7,500

381,842

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

28,015

4,184

VAT

25,077

-

Prepayments and accrued income

-

2,895

53,092

7,079

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade creditors

58,355

18,352

Amounts owed to group undertakings

147,931

Corporation tax

140,718

52,540

Social security and other taxes

9,462

13,270

VAT

-

14,152

Other creditors

13,478

15,833

Accruals and deferred income

22,156

9,869

392,100

271,947

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

100

Ordinary

£1

100