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Unaudited Financial Statements |
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for the Year Ended 31 December 2016 |
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for |
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The 44422 Locomotive Company Limited |
(company limited by guarantee) |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 December 2016 |
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for |
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The 44422 Locomotive Company Limited |
(company limited by guarantee) |
The 44422 Locomotive Company Limited |
(company limited by guarantee) (Registered number: 06772194) |
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Contents of the Financial Statements |
for the year ended 31 December 2016 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 |
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The 44422 Locomotive Company Limited |
(company limited by guarantee) |
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Company Information |
for the year ended 31 December 2016 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Datum House |
Electra Way |
Crewe |
Cheshire |
CW1 6ZF |
The 44422 Locomotive Company Limited |
(company limited by guarantee) (Registered number: 06772194) |
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Statement of Financial Position |
31 December 2016 |
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2016 | 2015 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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RESERVES |
Unrealised gain |
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Income and expenditure account |
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The directors acknowledge their responsibilities for: |
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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 surplus or deficit 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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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The 44422 Locomotive Company Limited |
(company limited by guarantee) (Registered number: 06772194) |
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Notes to the Financial Statements |
for the year ended 31 December 2016 |
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1. | STATUTORY INFORMATION |
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The 44422 Locomotive Company Limited ('The Company') is primarily engaged in the provision of educational |
services in respect of the steam locomotive industry. |
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The company is a private company limited by guarantee and is incorporated in England and Wales. The address |
of the principle place of business and registered office is First Floor, 7 Pillory Street, Nantwich, Cheshire, CW5 |
5BZ. The registered number can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Summary of significant accounting policies |
The principle accounting policies applied in the preparation of these financial statements are set out below. |
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These policies have been consistently applied to all years presented, unless otherwise stated. |
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Basis of preparation |
The financial statements are prepared on the going concern basis under the historical cost convention and comply |
with the United Kingdom Accounting Standards and Companies Act 2006. |
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Turnover |
Turnover represents net invoiced sales of services, excluding value added tax. |
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Tangible fixed assets |
The company has a practice of regular maintenance and repair of the steam locomotive and any depreciation |
charge of the locomotive would be immaterial. The regular costs of restoration, repair and maintenance of the |
locomotive are charged to the profit and loss account in the year in which they are incurred. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of comprehensive |
income, except to the extent that it relates to items recognised in other comprehensive income or directly in |
equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 statement of financial position date. |
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The 44422 Locomotive Company Limited |
(company limited by guarantee) (Registered number: 06772194) |
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Notes to the Financial Statements - continued |
for the year ended 31 December 2016 |
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3. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position date. |
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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. |
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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. |
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4. | TANGIBLE FIXED ASSETS |
Steam |
engine |
£ |
COST |
At 1 January 2016 |
and 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
VAT |
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Prepayments |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Other creditors |
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Accrued expenses |
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7. | LIABILITY OF MEMBERS |
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The 44422 Locomotive Company is a non-profit making company limited by guarantee. |
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Each corporate member of the company undertakes to contribute such amounts as may be required not exceeding |
£1 to the assets of the company if it should be wound up while he or she is a member, or within one year after he |
or she ceases to be a member, for payments of debts and liabilities of the company contracted before he or she |
ceases to be a member. |
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8. | TRANSITION TO FRS 102 (SECTION 1A) |
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The company has adopted FRS 102 (Section 1A) for the year ended 31 December 2016. No restatement of the |
comparative prior year amounts has been required. |