REGISTERED NUMBER: 09022032 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2026

for

Cleethorpes Light Railway Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr P M Bryant

Mr J M Kerr

REGISTERED OFFICE:

Lakeside Station

Kings Road

Cleethorpes

Lincolnshire

DN35 0AG

REGISTERED NUMBER:

09022032 (England and Wales)

ACCOUNTANTS:

SMH Haywood & Co Limited

24-26 Mansfield Road

Rotherham

South Yorkshire

S60 2DT

FIXED ASSETS

Intangible assets

4

211,519

243,247

Tangible assets

5

312,077

235,341

Investments

6

6,000

6,000

529,596

484,588

CURRENT ASSETS

Stocks

13,106

5,808

Debtors

7

169,105

211,448

Cash at bank

124,038

51,195

306,249

268,451

CREDITORS

Amounts falling due within one year

8

470,607

412,661

NET CURRENT LIABILITIES

(164,358

)

(144,210

)

TOTAL ASSETS LESS CURRENT LIABILITIES

365,238

340,378

CREDITORS

Amounts falling due after more than one year

9

(51,040

)

(68,274

)

PROVISIONS FOR LIABILITIES

10

(61,212

)

(51,104

)

NET ASSETS

252,986

221,000

CAPITAL AND RESERVES

Called up share capital

20

20

Revaluation reserve

20,000

20,000

Retained earnings

232,966

200,980

SHAREHOLDERS' FUNDS

252,986

221,000

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2026 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2026 and were signed on its behalf by:

Mr P M Bryant - Director

Mr J M Kerr - Director

1.	STATUTORY INFORMATION

Cleethorpes Light Railway 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

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Short leasehold

-

Straight line over the remaining period

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

20% 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

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.

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 12 (2025 - 11 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2025

and 31 January 2026

317,279

AMORTISATION

At 1 February 2025

74,032

Charge for year

31,728

At 31 January 2026

105,760

NET BOOK VALUE

At 31 January 2026

211,519

At 31 January 2025

243,247

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 February 2025

77,126

327,572

404,698

Additions

-

106,500

106,500

At 31 January 2026

77,126

434,072

511,198

DEPRECIATION

At 1 February 2025

7,856

161,501

169,357

Charge for year

2,041

27,723

29,764

At 31 January 2026

9,897

189,224

199,121

NET BOOK VALUE

At 31 January 2026

67,229

244,848

312,077

At 31 January 2025

69,270

166,071

235,341

Included in plant and machinery is a locomotive bequeathed to the company in June 2021 at nil cost, which is stated at the directors’ valuation of £20,000. If plant and machinery were stated on a historical cost basis, the cost would be £414,072 (2025: £307,572).

6.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

2026

2025

£

£

Mighty Atom Shares

6,000

6,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

10,880

17,102

Amounts owed by group undertakings

155,000

-

Other debtors

3,225

194,346

169,105

211,448

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Bank loans and overdrafts

15,172

14,019

Hire purchase contracts

-

530

Trade creditors

6,027

7,295

Amounts owed to group undertakings

252,247

-

Taxation and social security

12,714

33,371

Other creditors

184,447

357,446

470,607

412,661

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Bank loans

51,040

68,274

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

4,111

10.	PROVISIONS FOR LIABILITIES

2026

2025

£

£

Deferred tax

61,212

51,104

Deferred tax

£

Balance at 1 February 2025

51,104

Charge to Income Statement during year

10,108

Balance at 31 January 2026

61,212

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption in FRS 102 Section 33.1A from disclosing transactions with other wholly owned members of the group headed by Seaside Railway Group Ltd.

Until 30 January 2026, when the company became a wholly owned subsidiary of Seaside Railway Group Ltd, the company was under the common control of its directors, together with Lakeside Station Limited, North Bay Railway Company Limited and other companies now in the group. Interest-free funding was provided between these companies during the year. The balances are included within amounts owed by and to group undertakings.

At the year end the company owed its directors £176,224 (2025: £175,224), included within other creditors. The balances are unsecured, interest-free and repayable on demand.

12.	ULTIMATE CONTROLLING PARTY

The company’s immediate and ultimate parent undertaking, from 30 January 2026, is Seaside Railway Group Ltd, a company registered in England and Wales, whose registered office is Lakeside Station, Kings Road, Cleethorpes, Lincolnshire, DN35 0AG. The parent is not required to prepare consolidated financial statements. Seaside Railway Group Ltd is controlled jointly by Mr P M Bryant and Mr J M Kerr.