Wealden Railway Company Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01936470 (England and Wales)

Wealden Railway Company Limited

Unaudited Financial Statements for the Year Ended 31 January 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J S Nye

Mr J Pay

Mr S Pay

Mr S R Owens

Mr C J Hobden

REGISTERED OFFICE:

West Station

Nevill Terrace

Tunbridge Wells

Kent

TN2 5QY

REGISTERED NUMBER:

01936470 (England and Wales)

ACCOUNTANTS:

Swindells LLP

Chartered Accountants

Wilson House

48 Brooklyn Road

Seaford

East Sussex

BN25 2DX

FIXED ASSETS

Tangible assets

4

428,765

443,557

CURRENT ASSETS

Stocks

53,789

35,839

Debtors

5

103,186

206,673

Cash at bank and in hand

453,528

245,551

610,503

488,063

CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

6

288,226

288,060

NET CURRENT ASSETS

322,277

200,003

TOTAL ASSETS LESS CURRENT
LIABILITIES

751,042

643,560

CREDITORS: AMOUNTS FALLING DUE
AFTER MORE THAN ONE YEAR

7

74,285

75,373

NET ASSETS

676,757

568,187

CAPITAL AND RESERVES

Called up share capital

8

518,610

Other reserves

9

36,166

Fair value reserve

9

112,086

Retained earnings

9

9,895

(98,675

)

SHAREHOLDERS' FUNDS

676,757

568,187

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 29 October 2025 and were signed on its behalf by:

Mr J S Nye - Director

1.	STATUTORY INFORMATION

Wealden Railway Company 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

Turnover

Turnover represents revenue, net of VAT, from commercial transactions under which the company supplies customers the goods and services that it is in business to provide and it is recognised when it obtains, through performance under contract, the right to consideration for those goods and services.

Tangible fixed assets

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

Freehold property

-

not provided

Short leasehold

-

over the term of the lease

Improvements to property

-

4% on cost

Plant and machinery

-

15% on reducing balance

Computer equipment

-

20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Provisions

Provisions are made when an obligation exists for a future liability in respect of a past event and where the amount of obligation can be reliably estimated. Provisions are made for costs relating to the maintenance and overhaul of locomotives, diesel units and carriages used by the railway and are calculated based on an average cost per operating day. Provisions are stated at the present value of the amount expected to be required to settle the obligation.

Going concern

The directors have also assessed whether the going concern basis of preparation continues to be appropriate, based on whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern.

At the time of approving the financial statements the directors believe that all appropriate measures have been or will be taken to ensure that the company will be able to continue its operations for at least the next 12 months. The company's parent company has also indicated its willingness to continue to support the company for the foreseeable future and the directors thus conclude that the going concern basis remains appropriate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

Short

to

property

leasehold

property

£

COST OR VALUATION

At 1 February 2024

200,000

202,902

23,033

Additions

-

Disposals

-

At 31 January 2025

200,000

202,902

23,033

DEPRECIATION

At 1 February 2024

-

181,866

1,844

Charge for year

-

13,993

922

Eliminated on disposal

-

At 31 January 2025

-

195,859

2,766

NET BOOK VALUE

At 31 January 2025

200,000

7,043

20,267

At 31 January 2024

200,000

21,036

21,189

Plant and

Computer

machinery

equipment

Totals

£

COST OR VALUATION

At 1 February 2024

459,170

33,147

918,252

Additions

21,259

5,066

26,325

Disposals

-

(3,034

)

(3,034

)

At 31 January 2025

480,429

35,179

941,543

DEPRECIATION

At 1 February 2024

271,987

18,998

474,695

Charge for year

17,951

7,645

40,511

Eliminated on disposal

-

(2,428

)

(2,428

)

At 31 January 2025

289,938

24,215

512,778

NET BOOK VALUE

At 31 January 2025

190,491

10,964

428,765

At 31 January 2024

187,183

14,149

443,557

Cost or valuation at 31 January 2025 is represented by:

Improvements

Freehold

Short

to

property

leasehold

property

£

Valuation in 2021

112,086

-

Cost

87,914

202,902

23,033

200,000

202,902

23,033

Plant and

Computer

machinery

equipment

Totals

£

Valuation in 2021

-

112,086

Cost

480,429

35,179

829,457

480,429

35,179

941,543

Freehold land was valued on an open market basis on 31 January 2021 by Watsons Estates. The directors do not consider there to have been a significant change in this valuation.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

21,936

151,475

Amounts owed by group undertakings

11,713

7,092

Other debtors

69,537

48,106

103,186

206,673

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade creditors

92,661

76,181

Taxation and social security

23,825

21,432

Other creditors

171,740

190,447

288,226

288,060

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

Other creditors

74,285

75,373

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

518,610

Ordinary

£1

518,610

9.

RESERVES

Fair

Retained

Other

value

earnings

reserves

reserve

Totals

£

At 1 February 2024

(98,675

)

36,166

112,086

49,577

Profit for the year

108,570

At 31 January 2025

9,895

36,166

112,086

158,147

Other reserves comprises the Resilient Reserve Heritage Fund.

10.	RELATED PARTY DISCLOSURES

The Tunbridge Wells & Eridge Railway Preservation Society Limited (TW&ERPS) owned 85% of the company's ordinary share capital at the balance sheet date. The company received grants from TW&ERPS amounting to £nil during the year (2024 - £500).

The company was owed £11,713 from TW&ERPS (2024 - £7,092) at the balance sheet date. The loan is interest free, unsecured and repayable on demand.