Ffestiniog And Welsh Highland Railways H - Accounts to registrar (filleted)

REGISTERED NUMBER: 02231595 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

FFESTINIOG AND WELSH HIGHLAND RAILWAYS

HERITAGE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Dr D R Gwyn

P A Lewin

S G Miller

I S Wilkinson

N G Booker

R J Zeepvat

P J Stow

E C Ford

REGISTERED OFFICE:

Harbour Station

Porthmadog

Gwynedd

LL49 9NF

REGISTERED NUMBER:

02231595 (England and Wales)

AUDITORS:

Williams Denton Cyf

Chartered Certified Accountants

Statutory Auditors

Glaslyn

Ffordd y Parc

Parc Menai

Bangor

Gwynedd

LL57 4FE

FIXED ASSETS

Tangible assets

4

406,798

TOTAL ASSETS LESS CURRENT
LIABILITIES

406,798

CREDITORS

Amounts falling due after more than one
year

5

328,449

NET ASSETS

78,349

CAPITAL AND RESERVES

Called up share capital

78,349

SHAREHOLDERS' FUNDS

78,349

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 29 March 2023 and were signed on its behalf by:

P A Lewin - Director

1.	STATUTORY INFORMATION

Ffestiniog And Welsh Highland Railways Heritage 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.

Tangible fixed assets

Depreciation is not charged on fixtures, fittings and equipment. In accordance with FRS 15 an impairment review under FRS 11 is performed on these assets which are assets owned by the company and consist of historical items of rolling stock. There is a user agreement with The Festiniog Railway Company whereby that company agrees to maintain the coaches to full museum standard at its own cost. The results of this review showed that the recoverable amount is in excess of the carrying amount supporting the policy.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2022

and 31 December 2022

406,798

NET BOOK VALUE

At 31 December 2022

406,798

At 31 December 2021

406,798

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2022

2021

£

Other creditors

328,449

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

The Report of the Auditors was unqualified.

Martin Barrett (Senior Statutory Auditor)

for and on behalf of Williams Denton Cyf

7.	RELATED PARTY DISCLOSURES

The company's assets are secured by way of a debenture being a fixed and floating charge in favour of The Ffestiniog and Welsh Highland Railways Trust as one of the conditions for that body providing funding for the restoration of the assets held by the company. The legal agreement between the company and The Ffestiniog and Welsh Highland Railways Trust gives the Trust the power to take over the assets of the company in the event the company fails to ensure that the assets are properly maintained and secured.

8.	ULTIMATE CONTROLLING PARTY

The controlling party is The Ffestiniog and Welsh Highland Railways Trust.

Ffestiniog And Welsh Highland Railways H - Accounts to registrar (filleted) - small 22.3

Ffestiniog And Welsh Highland Railways H - Accounts to registrar (filleted) - small 22.3