REGISTERED NUMBER: 02555576 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

FFESTINIOG RAILWAY HOLDINGS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr N F Burbidge

Mr A Heywood

Mr D Jones

Mr W J Oates

Mrs M Cook

SECRETARY:

Mr D Jones

REGISTERED OFFICE:

Former St Mary's Church

Church Street

Tremadog

Porthmadog

LL49 9RA

REGISTERED NUMBER:

02555576 (England and Wales)

AUDITORS:

Williams Denton Cyf

Chartered Certified Accountants

Statutory Auditors

Glaslyn

Ffordd y Parc

Parc Menai

Bangor

Gwynedd

LL57 4FE

CURRENT ASSETS

Debtors

5

262,226

253,157

Cash at bank and in hand

1,056,526

1,123,481

1,318,752

1,376,638

CREDITORS

Amounts falling due within one year

6

695,224

777,015

NET CURRENT ASSETS

623,528

599,623

TOTAL ASSETS LESS CURRENT LIABILITIES

623,528

599,623

CAPITAL AND RESERVES

Called up share capital

30,000

30,000

Retained earnings

7

593,528

569,623

SHAREHOLDERS' FUNDS

623,528

599,623

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 May 2026 and were signed on its behalf by:

Mrs M Cook - Director

1.	STATUTORY INFORMATION

Ffestiniog Railway Holdings 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.

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.

Turnover

The company's revenue is measured as the aggregate amount of gross revenue receivable from inclusive tours, airline travel services, hotel services, travel agency commission and other travel services supplied to customers in the ordinary course of business. The company records revenue on a net basis after deducting trade discounts and value added tax.

Revenue relating to travel services including travel agency commission and other services, are taken to the income statement on the date of holiday and flight departure. Revenue relating to other services provided by the company is taken to the income statement as earned. Revenue from the sale of goods is recognised when all the significant risks and rewards of ownership is transferred to the customer, usually on delivery of the goods. Monies received by the balance sheet date relating to holidays commencing and flights departing after the period end are included within current liabilities as revenue received in advance.

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 7 (2024 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2025

and 31 December 2025

41,620

DEPRECIATION

At 1 January 2025

and 31 December 2025

41,620

NET BOOK VALUE

At 31 December 2025

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

262,226

253,157

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

38,268

80,196

Taxation and social security

5,937

12,670

Other creditors

651,019

684,149

695,224

777,015

7.

RESERVES

Retained

earnings

£

At 1 January 2025

569,623

Profit for the year

298,905

Gift aid payment to parent

(275,000

)

At 31 December 2025

593,528

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Martin Steven Barrett (Senior Statutory Auditor)

for and on behalf of Williams Denton Cyf

9.	RELATED PARTY DISCLOSURES

The following transactions took place during the year with related parties:

The Festiniog Railway Company, a fellow subsidiary, provides staff and office services for the company under a management agreement. During the year £362,508 (2024: £283,055) was payable under this agreement.

The Festiniog Railway Company also sold travel tickets to the company amounting to £10,238 (2024: £17,510)

Payments of £24,600 (2024: £21,000) were made in the year to an entity for the co-ordination and supply of marketing services to the company. This entity is run by the wife of a Director of the company (NF Burbidge).