Heritage Railway Association Filleted accounts for Companies House (small and micro)

HERITAGE RAILWAY ASSOCIATION - Company Information

3 false false false false false false false false false true false false false false false false No description of principal activity 2022-01-01 Sage Accounts Production Advanced 2021 - FRS102_2021 4,000 3,815 7,815 991 991 6,824 4,000 6,559 6,094 233 6,327 232 465 xbrli:pure xbrli:shares iso4217:GBP 02226245 2022-01-01 2022-12-31 02226245 2022-12-31 02226245 2021-12-31 02226245 2021-01-01 2021-12-31 02226245 2021-12-31 02226245 bus:Director1 2022-01-01 2022-12-31 02226245 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 02226245 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-01-01 2022-12-31 02226245 core:WithinOneYear 2022-12-31 02226245 core:WithinOneYear 2021-12-31 02226245 core:OtherReservesSubtotal 2022-12-31 02226245 core:OtherReservesSubtotal 2021-12-31 02226245 core:RetainedEarningsAccumulatedLosses 2022-12-31 02226245 core:RetainedEarningsAccumulatedLosses 2021-12-31 02226245 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2021-12-31 02226245 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2021-12-31 02226245 bus:SmallEntities 2022-01-01 2022-12-31 02226245 bus:AuditExemptWithAccountantsReport 2022-01-01 2022-12-31 02226245 bus:FullAccounts 2022-01-01 2022-12-31 02226245 bus:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 02226245 bus:CompanyLimitedByGuarantee 2022-01-01 2022-12-31 02226245 core:OfficeEquipment 2022-12-31 02226245 core:OfficeEquipment 2021-12-31 02226245 core:OfficeEquipment 2022-01-01 2022-12-31

COMPANY REGISTRATION NUMBER: 02226245

Heritage Railway Association

Company Limited by Guarantee

Filleted Unaudited Financial Statements

31 December 2022

Heritage Railway Association

Company Limited by Guarantee

Financial Statements

Year ended 31 December 2022

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Heritage Railway Association

Company Limited by Guarantee

Statement of Financial Position

31 December 2022

	2022		2021
Note	£	£	£

Fixed assets

Intangible assets	6	6,824	4,000
Tangible assets	7	232	465
		-------	-------
		7,056	4,465

Current assets

Debtors	8	135,304	15,466
Cash at bank and in hand		265,518	180,169
		---------	---------
		400,822	195,635

Creditors: amounts falling due within one year	9	206,970		4,167
		---------		---------
Net current assets			193,852	191,468
			---------	---------
Total assets less current liabilities			200,908	195,933
			---------	---------
Net assets			200,908	195,933
			---------	---------

Capital and reserves

Other reserves	81,427	81,427
Profit and loss account	119,481	114,506
	---------	---------
Members funds	200,908	195,933
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Heritage Railway Association

Company Limited by Guarantee

Statement of Financial Position (continued)

31 December 2022

These financial statements were approved by the board of directors and authorised for issue on 9 February 2023 , and are signed on behalf of the board by:

Mr B Simpson (Chairman)

Director

Company registration number: 02226245

Heritage Railway Association

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 December 2022

1. General information

The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is The Railway Station, Station Road, Havenstreet, Ryde, England, PO33 4DS.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover represents monies receivable for memberships, subscriptions, events and donations during the period, exclusive of Value Added Tax. No adjustment is made for deferred income.

Income tax

The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Website	-	5 year straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	3 year straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Company limited by guarantee

The company is limited by guarantee and does not have a share capital. Each member guarantees to pay during his membership and within one year after he ceases to be a member, in the event of a winding up order, a sum not exceeding one pound for payment of debts and liabilities contracted by the Association before he ceases to be a member.

5. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2021: 2 ).

6. Intangible assets

	Website
	£
Cost
At 1 January 2022	4,000
Additions	3,815
	-------
At 31 December 2022	7,815
	-------
Amortisation
Charge for the year	991
	-------
At 31 December 2022	991
	-------
Carrying amount
At 31 December 2022	6,824
	-------
At 31 December 2021	4,000
	-------

7. Tangible assets

	Equipment	Total
	£	£
Cost
At 1 January 2022 and 31 December 2022	6,559	6,559
	-------	-------
Depreciation
At 1 January 2022	6,094	6,094
Charge for the year	233	233
	-------	-------
At 31 December 2022	6,327	6,327
	-------	-------
Carrying amount
At 31 December 2022	232	232
	-------	-------
At 31 December 2021	465	465
	-------	-------

8. Debtors

	2022	2021
	£	£
Trade debtors	132,364	6,667
Other debtors	2,940	8,799
	---------	--------
	135,304	15,466
	---------	--------

9. Creditors: amounts falling due within one year

	2022	2021
	£	£
Trade creditors	7,694	758
Corporation tax	19	2
Social security and other taxes	27,536	–
Other creditors	171,721	3,407
	---------	-------
	206,970	4,167
	---------	-------