## **3. TRUSTEES ANNUAL REPORT FOR THE YEAR ENDING 2021**
The Trustees, who are also Directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2021. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).
## **REFERENCE AND ADMINISTRATIVE DETAILS**
|Registered name of Charity|North Eastern Locomotive Preservation Group|
|---|---|
|Other name of Charity|NELPG|
|Charity Registration number|1002017|
|Company Registration number|02570979|
|Principal Office and Registered Office|67 The Mount, York, YO24 1AX|
|VAT Registration number|602 1185 91|
|Bankers|Barclays Bank, 3 Northumberland Square,|
||North Shields, NE30 1QX|
||Co-operative Bank, 29 High Street, Durham, DH1 3PL|
|Independent Examiner|David Holloway FCA DChA|
|of Accounts|Ribchesters, Chartered Accountants,|
||Finchale House, Belmont Business Park, Durham, DH1 1TW|
## **Trustees**
|Name|Office (if any)|Dates (if not whole year)||
|---|---|---|---|
|||From|To|
|C.J. Lawson|Chairman||7thJune 2021|
||Secretary to the Trustees|24thAugust 2021||
|C.J. Foxton|Chairman|7thJune 2021||
|R. Marshall|Secretary to the Trustees||8thJune 2021|
|(co-opted)||9thDecember 2021||
|N. Bill|||9thDecember 2021|
|R Bingham (co-opted)||9thDecember 2021||
|W. Dobson|||8thNovember 2021|
|N.F. Hall|||24thMay2021|
|P.G. Hutchinson||||
|P Mason (co-opted)||9thDecember 2021||
|R.A. Pearson||||
|D Pennock (co-opted)||9thDecember 2021||
|R. Wheeler|Treasurer*|||
*The Treasurer is not currently a Trustee.
Approved by order of the board of Trustees on 25[th] March 2022 and signed on its behalf by:
CJ Foxton – Trustee
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
The Charity is governed by a Memorandum of Association and Articles of Association both of which are dated 2[nd] January 1991.
The Charity is a Charitable Company Limited by Guarantee.
## **Trustee Selection Methods**
Directors, who are also Charity Trustees, are elected for 3 years by Members at the Annual General Meeting.
Any potential new Trustee must be recommended by the Committee, or, if not, notice of not less than 42 days nor more than 72 days must be given to the Company of the intention to propose a person for appointment. Not less than 14 nor more than 35 clear days before the date appointed for holding a General Meeting, notice must be given to Members of those whose approval for appointment as Trustees will be sought at that meeting. If the vacancy resulting from a Trustee retiring by rotation is not filled, then the retiring Trustee will, if willing, be deemed to have been re-appointed. If there are more nominations than there are vacancies, an election is held. Trustees are also directors for the purposes of company law.
There is an agreed procedure for the appointment of Trustees/Directors on the Charity’s website, which potential nominees are required to follow. All Trustees should participate in the on-line NCVO training programme for Trustees, as part of the formal training and induction programme.
## **Organisation**
The Trustees manage the business of the Charity: there must be no fewer than 6 Trustees and not more than 9. At the end of 2021 there were 8 Trustees. The quorum is 5.
Some Trustees are allocated responsibility for a particular part of the Charity’s activities. As well as the specifically elected roles, responsibilities of Trustees include Health and Safety and Publicity.
**Corporate Trustees: -** There are no Corporate Trustees.
**Custodian Trustees: -** There are no Custodian Trustees.
**Trustees holding title to property belonging to the Charity:** - There are no Trustees who hold the title of property belonging to the Charity.
**People with Significant Control:** - The Company knows or has reasonable cause to believe, that there is no registerable person or registerable relevant legal entity in relation to the Company.
## **OBJECTIVES AND ACTIVITIES**
## **Summary of the Purposes of the Charity:**
The Company was established for the restoration and preservation of steam locomotives and other railwayrelated material with links to the North East of England.
## **The Charitable Objectives are:**
“Promoting and encouraging the restoration and preservation of railway locomotives, carriages, wagons and other artefacts of historical interest and buildings, connected therewith in particular, but without prejudice to the generality of the foregoing, those connected with the North East of England, and the preservation of books, drawings, records, documents, sound and visual recordings, cinematograph films and photographs relating to such artefacts and vehicles, their history and their development.”
## **Activities**
The Company achieves these objects, primarily, through the ownership, maintenance, operation and display of four steam locomotives (Class K1 62005, Q6 63395, J27 65894 and J72 69023) which, prior to withdrawal, were operated by British Railways and had worked in the North East of England.
## **The Main, Relevant Activities of the Charity are as follows:**
- i. Maintaining and overhauling the four locomotives to the relevant statutory standards in locations where, whenever possible, members of the public can observe what is going on and talk to those carrying out the work. This work requires the provision of materials, tools and equipment.
- ii. Arranging, whenever possible, for the locomotives to operate either on Heritage Railways, or the national network.
- iii. Carrying out as much repair, maintenance and overhaul work on the locomotives as possible by volunteers who are members of the Charity. Some specialist work is outsourced.
- iv. Fundraising through the activities of the Board’s Financial Strategy Committee, which also manages its Patron membership scheme.
- v. Using a building (Deviation Shed), which is open to the public to view, situated at Grosmont on the North Yorkshire Moors Railway (NYMR), for the major overhaul, maintenance and storage of locomotives.
- vi. Using a building, leased from Darlington Borough Council, which is open to the public on the third Saturday of every month, located at Hopetown, Darlington, for the overhaul and maintenance of locomotives.
- vii. Continuing to create and maintain an important Archive which is developed through frequent appeals to the Group’s membership for additional material. The Archive is stored at the National Railway Museum at York, and at the NYMR archive at Pickering. It is currently being catalogued. In due course the archived material will be made available to members of the public.
- viii. Having an open membership so that everyone can apply for membership.
- ix. Having a website, much of which is accessible by the public.
- x. Providing training to those members who wish to help with the maintenance and overhaul of locomotives. A number of members are sponsored for Personal Track Safety (PTS) certification to support running our locomotives on the national network.
- xi. Holding a series of Social Meetings during the Winter with speakers on railway topics. These meetings are open to the public.
## **ACHIEVEMENTS AND PERFORMANCE**
## **Summary of the Main Achievements of the Charity in 2021: Another Unusual Year**
The year 2021 saw the continued impact of the Covid-19 pandemic. Working parties continued under the control measures previously devised for activities at Carnforth, Deviation Shed, Hopetown Works, Fort William Depot, on Jacobite Operations and use of the Company van. Working parties remained limited in size and volunteers were asked to stay away, unless specifically rostered.
The Board continued to meet using Skype video conferencing software. No Social meetings were held. Deviation Shed (except for the donation box) and Hopetown were closed to the public. The AGM, and two (combined) SGM motions, were conducted by postal ballot, in the interest of good governance.
## **Maintenance and Overhaul**
Winter maintenance was carried out on the J27 in Deviation Shed at Grosmont, whilst the Q6 boiler work was progressed and a number of other maintenance tasks were undertaken. Winter maintenance and repairs on the K1 and support coach took place at West Coast Railway Company’s base at Carnforth and at Grosmont. The J72’s 10-year overhaul at Hopetown Works continued. The boiler was gradually dismantled and revealed more significant work was needed in the firebox area, leading to a revised estimate of costs (including material cost increases) and a ballot of members, to approve additional funds, was held at the end of the year. The pattern making for the new cylinder block was completed.
## **Operation**
After completing some crew training/competency work on the NYMR, the K1 worked the Jacobite between Fort William and Mallaig from late April to mid-June. However, tyre flange wear reduced the thickness to the minimum and the locomotive returned to Carnforth, in preparation for overhaul. A ballot of members approved the estimated expenditure for the overhaul. The K1 logged 3436 miles in the year.
The J27 re-entered traffic at the NYMR in June and was also used at the North Tyneside Railway’s gala in July. The total mileage run by the locomotive was 2933.
The Q6 re-entered traffic at the NYMR in October. The total mileage run by the locomotive was 495.
## **Volunteer Input**
The hours worked by volunteers during 2021 were equivalent to the hours which would have been worked by 6 full time persons (volunteer input was reduced because of Covid-19 measures).
Our volunteer efforts normally include Junior Volunteers (under 16s). The JVs have been unable to attend working parties this year, because of the retirement of the JV Coordinator for health reasons.
## **Building Maintenance**
At Grosmont, Deviation Shed saw continued maintenance of the fabric of the building, roller shutter door maintenance, and regular equipment checks (including the defibrillator and PAT testing of electrical equipment). Tests of lifting gear, ladders and fixed wiring were carried out by the NYMR.
A number of non-North Eastern Locomotive Preservation Group (NELPG) locomotives have been stored in Deviation Shed at various times during the year.
A health and safety review at Hopetown has produced a list of actions requiring attention and the Board is considering how best to take these actions forward.
A total of £410.00 has been donated to the Charity through the Grosmont collection box by members of the public.
## **Membership**
Membership of the Group at the end of 2021 stood at 690 (including joint members).
## **Social Meetings**
No meetings were held because of Covid-19.
## **Communications**
Regular reports on the progress of locomotive maintenance and overhaul are published on the Charity website and in its bi-monthly members magazine, supplemented by emails to working volunteers.
The Charity published and distributed 6 issues of NELPG News, the members magazine, which remains the journal of record.
No members’ Open Meeting has been possible this year.
## **Reporting**
The have been no matters to report to the Charity Commission in 2021.
## **Archive**
We continue to add material to our archive.
## **FINANCIAL REVIEW**
## **Year-End Financial Position:**
At the end of the period under review, the Charity had total funds of £795,631 (2020 = £740,757), an increase of £54,874. Full details will be found in the Accounts.
## **Statement Regarding Policy for Holding Reserves:**
The reserves policy is to provide for unforeseen expenditure, which can sometimes arise when key components of the locomotives require renewal earlier than expected. The policy is to maintain a reserve of £100,000. The Trustees have designated funds to a total value of £460,339 as a "Locomotive Maintenance Fund" to cover the on-going operation and maintenance of our locomotives, and a further £266,483 to a "Locomotive Overhaul Fund" designed to accumulate funds to support major overhauls of our locomotives.
## **Investment Policy:**
The investment policy aims to obtain the best available rate of return on a range of accounts with banks and building societies, each investment being at the maximum covered by the Financial Services Compensation Scheme and over a fixed term of the order of 12 months. Some funds are held in two accounts which allow withdrawal in 1 day and 90 days respectively. A more significant sum is invested in the COIF Charities Global Equity Income Fund for a better rate of return.
## **Details of Funds Materially in Deficit**
No funds are materially in deficit.
## **Uncertainties about the Charity Continuing as a Going Concern**
At this point in time there are no doubts about the Charity continuing as a going concern.
## **Principal Sources of Fundraising**
During 2021 the Charity’s Principal Sources of Fundraising were as follows
i Fees paid by those hiring locomotives;
ii Donations and grants, particularly in favour of the J72 Appeal;
iii Subscriptions, including the Patron Membership Scheme;
iv Legacy giving;
v Sales.
## **Risk Management**
The Trustees have identified a number of risks. The major risks to which the Charity is exposed and the systems and procedures to mitigate and respond to these risks are:
- i Safe maintenance, overhaul and operation of the locomotives. The Charity has in place a Risk Assessment and a procedure for its review, amendment and approval. In addition, an Operating Manual is in place for operations at Fort William, supported by appropriate reporting lines and structure, to ensure it is applied in day-to-day operation. There are preventive maintenance procedures and all new volunteers are briefed on safety. To further protect the Charitable Company, it has appropriate insurance.
- ii Difficult economic conditions. The Charity has in place financial procedures to identify at an early stage the onset of potential problems and to develop plans to respond appropriately.
- iii The continuing impact of the Covid-19 pandemic on our activities and income. Government guidelines and our own control measures will be kept under review.
- iv Loss of volunteer resources, including sufficient Trustees, and the effect of changes in their age profile and physical ability. The Charity actively manages the wide base of volunteer skills and is developing a strategy for ensuring sufficient volunteer resources for the longer term, contracting work out where necessary, but Trustee numbers remain a concern.
- v High costs associated with maintaining and operating steam locomotives, and increasing costs because of the increasing age of our volunteers resulting in more work having to be carried out on a paid contract basis. A strategy is being developed to ensure that resources are in place as and when they are needed, including the establishment of a reserve fund.
- vi Difficulty in sourcing affordable coal fuel. The Group is engaged with other heritage stakeholders through the Heritage Railway Association.
## **FUNDS HELD AS CUSTODIAN TRUSTEE ON BEHALF OF OTHERS**
No funds are held as custodian trustee on behalf of others.
## **PUBLIC BENEFIT STATEMENT**
## **There are Two Elements to Public Benefit**
- i The “Public” element – which requires that the purpose of a charity must benefit the public in general or a sufficient section of the public and must not give rise to more than incidental personal development.
- ii The “Benefit” element – which requires that the purpose of a charity must be beneficial in a way that can be identified and is capable of being proved by evidence where necessary and not based on an individual’s personal views.
The Trustees of NELPG take the view that the preservation and operation of steam locomotives helps, considerably, to develop interest in and understanding of the history and development of railways, a mode of transport that arguably had its roots in the North East of England and which played such an important part in the development of the modern world. This is considered “beneficial” even though it is difficult to quantify or measure.
## **Awareness of Public Benefit Guidance**
The Trustees confirm their compliance with their duty to have due regard to the Charity Commission’s Public Benefit Guidance when exercising any powers or duties to which the guidance relates.
## **PLANS FOR FUTURE PERIODS**
Our plans will depend on the ongoing virus situation. The Trustees continue to monitor the situation carefully, taking account of Government advice and input from a number of bodies, including the Charity Commission, to minimise the impact on our objectives.
We hope that the Q6 and J27 will see some service on the NYMR early in 2022. There have been some expressions of interest from other heritage railways in hiring the J27. The K1 has commenced a major overhaul, which we hope will see significant progress in 2022, towards completion in early 2023. The J72 overhaul will continue in 2022, with the boiler repair progressed and the production of the new cylinder block.
Plans to vacate our workshop at Hopetown will be progressed and we hope to identify an alternative site in Darlington or on Teesside.
As a result of our concentration on navigating our way through the virus situation, the Trustees have been unable to progress significantly a number of strategic issues which require more focus during 2022. This work includes:
- i Establishment of a Locomotive Sub Committee.
- ii Delivery of a long-term strategy for the overhaul, maintenance and operation of our locomotives.
- iii Delivery of a long-term financial plan to support the strategy for the overhaul, maintenance and operation of our locomotives.
- iv Revision of the Group’s governance documents, including a review of safety and the Locomotive Maintenance Policy.
- v Review of the way in which the organisation is managed, with a view to the Trustees spending less time on day-to-day matters and more on strategic issues.
- vi Development of a long-term strategy aimed at ensuring that successors are available when key persons leave their posts.
- vii Continued development of IT related systems.
- viii Continued efforts to improve communications within the Board, within the Group and between the Group and like-minded organisations.
## **INFORMATION ON FUNDRAISING PRACTICES**
Although the Charity is not auditable under the guidance issued by the Charity Commission, we are aware of the Fundraising Regulator and we continue to consider the implications for our operations.
## **Small Company Provisions:**
This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.
Signed, on behalf of the Company’s Directors / Charity’s Trustees:
Date: 25[th] March 2022
Colin John Foxton (Chairman of the Board of Trustees)
Date: 25[th] March 2022
Christopher John Lawson (Company Secretary and Secretary to the Board of Trustees)
**REGISTERED COMPANY NUMBER: 02570979 (England and Wales) REGISTERED CHARITY NUMBER: 1002017**
## **REPORT OF THE TRUSTEES AND**
## **FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2021**
## **FOR**
## **NORTH EASTERN LOCOMOTIVE PRESERVATION GROUP**
Ribchesters Chartered Accountants Finchale House Belmont Business Park Durham DH1 1TW
**NORTH EASTERN LOCOMOTIVE PRESERVATION GROUP**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021**
||**Page**|
|---|---|
|**Report of the Trustees**|1|
|**Independent Examiner's Report**|2|
|**Statement of Financial Activities**|3|
|**Balance Sheet**|4 to 5|
|**Notes to the Financial Statements**|6 to 13|
|**Detailed Statement of Financial Activities**|14 to 15|
**NORTH EASTERN LOCOMOTIVE PRESERVATION GROUP**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Company number**
02570979 (England and Wales)
**Registered Charity number** 1002017
## **Registered office**
67 The Mount York Yorkshire YO24 1AX
## **Trustees**
C J Lawson N F Hall (resigned 24/5/2021) P G Hutchinson R A Pearson R Marshall W Dobson (resigned 8/11/2021) C Foxton N Bill (resigned 9/12/2021) R D Bingham (appointed 9/12/2021) P Mason (appointed 9/12/2021) D A Pennock (appointed 9/12/2021)
## **Company Secretary**
C J Lawson
## **Independent Examiner**
David Holloway FCA DChA Ribchesters Chartered Accountants Finchale House Belmont Business Park Durham DH1 1TW
Approved by order of the board of trustees on 10 March 2022 and signed on its behalf by:
C Foxton - Trustee
Page 1
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NORTH EASTERN LOCOMOTIVE PRESERVATION GROUP**
## **Independent examiner's report to the trustees of North Eastern Locomotive Preservation Group ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2021.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
David Holloway FCA DChA Ribchesters Chartered Accountants Finchale House Belmont Business Park Durham DH1 1TW
10 March 2022
Page 2
## **NORTH EASTERN LOCOMOTIVE PRESERVATION GROUP**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021**
|Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
40,729
Other trading activities
3
80,551
Investment income
4
4,416
**Total**
125,696
**EXPENDITURE ON**
Raising funds
5
8,302
**Charitable activities**
Promotion, restoration and preservation
102,523
**Total**
110,825
Net gains on investments
29,588
**NET INCOME**
44,459
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
729,016
**TOTAL FUNDS CARRIED FORWARD**
773,475|Restricted
funds
£
43,695
-
-
43,695
-
33,280
33,280
-
10,415
11,741
22,156|2021
Total
funds
£
84,424
80,551
4,416
169,391
8,302
135,803
144,105
29,588
54,874
740,757
795,631|2020
Total
funds
£
67,482
81,248
6,302|
|---|---|---|---|
||||155,032
11,489
119,761|
||||131,250
24,442|
||||48,224
692,533|
||||740,757|
The notes form part of these financial statements
Page 3
## **NORTH EASTERN LOCOMOTIVE PRESERVATION GROUP**
## **BALANCE SHEET 31 DECEMBER 2021**
|Unrestricted
funds
Notes
£
**FIXED ASSETS**
Tangible assets
9
20,186
**CURRENT ASSETS**
Debtors
10
16,116
Investments
11
185,937
Cash at bank
553,339
755,392
**CREDITORS**
Amounts falling due within one year
12
(2,103)
**NET CURRENT ASSETS**
753,289
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
773,475
**NET ASSETS**
773,475
**FUNDS**
13
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
funds
£
-
-
-
22,156
22,156
-
22,156
22,156
22,156|2021
Total
funds
£
20,186
16,116
185,937
575,495
777,548
(2,103)
775,445
795,631
795,631
773,475
22,156
795,631|2020
Total
funds
£
27,765
14,754
141,349
568,742
724,845
(11,853)
712,992
740,757
740,757
729,016
11,741
740,757|
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that 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 charitable 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 charitable company.
The notes form part of these financial statements
continued...
Page 4
## **NORTH EASTERN LOCOMOTIVE PRESERVATION GROUP**
## **BALANCE SHEET - continued 31 DECEMBER 2021**
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 10 March 2022 and were signed on its behalf by:
C Foxton - Trustee
C J Lawson - Trustee
The notes form part of these financial statements
Page 5
**NORTH EASTERN LOCOMOTIVE PRESERVATION GROUP**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold property - straight line over 10 years Improvements to property - straight line over 10 years Plant & equipment - straight line over 10 years Heritage assets - not provided Vehicles - straight line over 3 years
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Page 6
continued...
## **NORTH EASTERN LOCOMOTIVE PRESERVATION GROUP**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021**
## **2. DONATIONS AND LEGACIES**
|Grants
Royalties
Legacy fund
Patron donations
Sundry donations
**3.**
**OTHER TRADING ACTIVITIES**
Locomotive hire fees
Sales
**4.**
**INVESTMENT INCOME**
Bank interest receivable
**5.**
**RAISING FUNDS**
**Raising donations and legacies**
Stock for resale
Support costs
**6.**
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets|2021
£
-
-
100
29,000
55,324
84,424|2020
£
11,000
-
250
28,345
27,887
67,482
2021
£
79,600
951
80,551
2021
£
4,416
2021
£
427
7,875
8,302
2021
£
7,579|2020
£
76,496
4,752
81,248
2020
£
6,302
2020
£
3,146
8,343
11,489
2020
£
7,875|
|---|---|---|---|
continued...
Page 7
**NORTH EASTERN LOCOMOTIVE PRESERVATION GROUP**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021**
## **7. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.
The charity made allowances totalling £1,470 during the year for expenses claimed by the trustees whilst doing volunteer work for the specific charitable areas (2020:£875).
|**8.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
51,500
Other trading activities
80,093
Investment income
6,302
**Total**
137,895
**EXPENDITURE ON**
Raising funds
11,489
**Charitable activities**
Promotion, restoration and preservation
112,865
**Total**
124,354
Net gains on investments
24,442
**NET INCOME**
37,983
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
691,033
**TOTAL FUNDS CARRIED FORWARD**
729,016|Restricted
funds
£
15,982
1,155
-
17,137
-
6,896
6,896
-
10,241
1,500
11,741|Total
funds
£
67,482
81,248
6,302|
|---|---|---|
|||155,032
11,489
119,761|
|||131,250
24,442|
|||48,224
692,533|
|||740,757|
continued...
Page 8
## **NORTH EASTERN LOCOMOTIVE PRESERVATION GROUP**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021**
## **9. TANGIBLE FIXED ASSETS**
|**9.**|**TANGIBLE FIXED ASSETS**||||
|---|---|---|---|---|
||||Improvements||
|||Leasehold|
to|Plant &|
|||property|
property|equipment|
|||£|£|£|
||**COST**||||
||At 1 January 2021 and 31 December 2021|33,963|28,986|21,468|
||**DEPRECIATION**||||
||At 1 January 2021|27,168|28,986|18,872|
||Charge for year|3,396|-|1,851|
||At 31 December 2021|30,564|28,986|20,723|
||**NET BOOK VALUE**||||
||At 31 December 2021|3,399|-|745|
||At 31 December 2020|6,795|-|2,596|
|||Heritage|||
|||assets|Vehicles|Totals|
|||£|£|£|
||**COST**||||
||At 1 January 2021 and 31 December 2021|14,100|6,995|105,512|
||**DEPRECIATION**||||
||At 1 January 2021|-|2,721|77,747|
||Charge for year|-|2,332|7,579|
||At 31 December 2021|-|5,053|85,326|
||**NET BOOK VALUE**||||
||At 31 December 2021|14,100|1,942|20,186|
||At 31 December 2020|14,100|4,274|27,765|
|**10.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||||
||||2021|2020|
||||£|£|
||Gift aid debtor||10,477|8,184|
||Accrued income||5,639|6,570|
||||16,116|14,754|
continued...
Page 9
## **NORTH EASTERN LOCOMOTIVE PRESERVATION GROUP**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021**
## **11. CURRENT ASSET INVESTMENTS**
|Investment management fund
**12.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
VAT
Accrued expenses||2021
£
185,937
2021
£
903
1,200
2,103||2020
£
141,349|
|---|---|---|---|---|
|||||2020
£
4,508
7,345|
|||||11,853|
## **13. MOVEMENT IN FUNDS**
|**Unrestricted funds**
General fund
Locomotive Overhaul Fund
Locomotive Maintenance Fund
**Restricted funds**
J27 & Q6 Safety Valve Fund
J72 Restoration Fund
**TOTAL FUNDS**
Net movement in funds, included in the above are
**Unrestricted funds**
General fund
Locomotive Overhaul Fund
Locomotive Maintenance Fund
**Restricted funds**
J27 & Q6 Safety Valve Fund
J72 Restoration Fund
**TOTAL FUNDS**|At 1.1.21
£
54,119
444,381
230,516
729,016
1,135
10,606
11,741
740,757
as follows:
Incoming
resources
£
14,328
29,100
82,268
125,696
-
43,695
43,695
169,391|Net
movement
in funds
£
8,534
29,100
6,825
44,459
(1,135)
11,550
10,415
54,874
Resources
expended
£
(35,382)
-
(75,443)
(110,825)
(1,135)
(32,145)
(33,280)
(144,105)|Transfers
between
At
funds
31.12.21
£
£
(16,000)
46,653
(206,998)
266,483
222,998
460,339
-
773,475
-
-
-
22,156
-
22,156
-
795,631
Gains and
Movement
losses
in funds
£
£
29,588
8,534
-
29,100
-
6,825
29,588
44,459
-
(1,135)
-
11,550
-
10,415
29,588
54,874|
|---|---|---|---|
continued...
Page 10
**NORTH EASTERN LOCOMOTIVE PRESERVATION GROUP**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021**
## **13. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|Net
movement
At 1.1.20
in funds
£
£
**Unrestricted funds**
General fund
58,790
(9,195)
Locomotive Overhaul Fund
389,565
59,340
Locomotive Maintenance Fund
242,678
(12,162)
691,033
37,983
**Restricted funds**
J27 & Q6 Safety Valve Fund
1,500
(365)
J72 Restoration Fund
-
10,606
1,500
10,241
**TOTAL FUNDS**
692,533
48,224
Comparative net movement in funds, included in the above are as follows:|Transfers
between
funds
£
4,524
(4,524)
-
-
-
-
-
-|At
31.12.20
£
54,119
444,381
230,516|
|---|---|---|
|||729,016
1,135
10,606|
|||11,741|
|||740,757|
||||
|**Unrestricted funds**
General fund
Locomotive Overhaul Fund
Locomotive Maintenance Fund
**Restricted funds**
J27 & Q6 Safety Valve Fund
J72 Restoration Fund
**TOTAL FUNDS**|Incoming
resources
£
11,369
34,898
91,628
137,895
-
17,137
17,137
155,032|Resources
expended
£
(20,564)
-
(103,790)
(124,354)
(365)
(6,531)
(6,896)
(131,250)|Gains and
Movement
losses
in funds
£
£
-
(9,195)
24,442
59,340
-
(12,162)
24,442
37,983
-
(365)
-
10,606
-
10,241
24,442
48,224|
|---|---|---|---|
continued...
Page 11
**NORTH EASTERN LOCOMOTIVE PRESERVATION GROUP**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021**
## **13. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
Locomotive Overhaul Fund
Locomotive Maintenance Fund
**Restricted funds**
J27 & Q6 Safety Valve Fund
J72 Restoration Fund
**TOTAL FUNDS**|At 1.1.20
£
58,790
389,565
242,678
691,033
1,500
-
1,500
692,533|Net
movement
in funds
£
(661)
88,440
(5,337)
82,442
(1,500)
22,156
20,656
103,098|Transfers
between
funds
£
(11,476)
(211,522)
222,998
-
-
-
-
-|At
31.12.21
£
46,653
266,483
460,339|
|---|---|---|---|---|
|||||773,475
-
22,156|
|||||22,156|
|||||795,631|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Locomotive Overhaul Fund
Locomotive Maintenance Fund
**Restricted funds**
J27 & Q6 Safety Valve Fund
J72 Restoration Fund
**TOTAL FUNDS**|Incoming
resources
£
25,697
63,998
173,896
263,591
-
60,832
60,832
324,423|Resources
expended
£
(55,946)
-
(179,233)
(235,179)
(1,500)
(38,676)
(40,176)
(275,355)|Gains and
Movement
losses
in funds
£
£
29,588
(661)
24,442
88,440
-
(5,337)
54,030
82,442
-
(1,500)
-
22,156
-
20,656
54,030
103,098|
|---|---|---|---|
The trustees have designated funds for the purpose of financing cyclical overhauls of the locomotives which the charity own. These costs will be substantial and the trustees therefore feel it prudent to ring fence reserves to enable those assets to be protected for future generations to enjoy
continued...
Page 12
**NORTH EASTERN LOCOMOTIVE PRESERVATION GROUP**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021**
## **14. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 December 2021.
## **15. ULTIMATE CONTROLLING PARTY**
The charitable company is controlled by it's trustees.
Page 13
**NORTH EASTERN LOCOMOTIVE PRESERVATION GROUP**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Subscriptions and donations
Grants
Legacies
**Other trading activities**
Locomotive hire fees
Sales
**Investment income**
Bank interest receivable
**Total incoming resources**
**EXPENDITURE**
**Raising donations and legacies**
Stock for resale
**Charitable activities**
Insurance
Locomotive restoration costs
Workshop consumables
Travel & subsistence
Mainline costs
Workshop maintenance
Subscriptions and donations
Health and safety equipment
Training and medicals
Depreciation of leasehold property
Depreciation of plant and equipment
Depreciation of Vehicles
**Support costs**
**Management**
Administration costs
**Governance costs**
Accountancy and legal fees
Total resources expended
**Net income before gains and losses**|2021
£
84,324
-
100
84,424
79,600
951
80,551
4,416
169,391
427
17,200
82,313
-
5,890
11,967
4,795
593
-
3,758
3,396
1,851
2,332
134,095
8,383
1,200
144,105
25,286|2020
£
56,232
11,000
250|
|---|---|---|
|||67,482
76,496
4,752|
|||81,248
6,302|
|||155,032
3,146
16,274
42,256
2,695
6,025
37,540
4,397
-
264
1,235
3,396
2,147
2,332|
|||118,561
8,343
1,200|
|||131,250|
|||23,782|
This page does not form part of the statutory financial statements
Page 14
**NORTH EASTERN LOCOMOTIVE PRESERVATION GROUP**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021**
|**DETAILED STATEMENT OF FINANCIAL ACTIVITIES**
**FOR THE YEAR ENDED 31 DECEMBER 2021**|||
|---|---|---|
|**Realised recognised gains and losses**
Gains on current asset investments
**Net income**|2021
£
29,588
54,874|2020
£
24,442|
|||48,224|
This page does not form part of the statutory financial statements
Page 15
**REGISTERED COMPANY NUMBER: 02570979 (England and Wales) REGISTERED CHARITY NUMBER: 1002017**
## **REPORT OF THE TRUSTEES AND**
## **FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2021**
## **FOR**
## **NORTH EASTERN LOCOMOTIVE PRESERVATION GROUP**
Ribchesters Chartered Accountants Finchale House Belmont Business Park Durham DH1 1TW
**NORTH EASTERN LOCOMOTIVE PRESERVATION GROUP**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021**
||**Page**|
|---|---|
|**Report of the Trustees**|1|
|**Independent Examiner's Report**|2|
|**Statement of Financial Activities**|3|
|**Balance Sheet**|4 to 5|
|**Notes to the Financial Statements**|6 to 13|
|**Detailed Statement of Financial Activities**|14 to 15|
**NORTH EASTERN LOCOMOTIVE PRESERVATION GROUP**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Company number**
02570979 (England and Wales)
**Registered Charity number** 1002017
## **Registered office**
67 The Mount York Yorkshire YO24 1AX
## **Trustees**
C J Lawson N F Hall (resigned 24/5/2021) P G Hutchinson R A Pearson R Marshall W Dobson (resigned 8/11/2021) C Foxton N Bill (resigned 9/12/2021) R D Bingham (appointed 9/12/2021) P Mason (appointed 9/12/2021) D A Pennock (appointed 9/12/2021)
## **Company Secretary**
C J Lawson
## **Independent Examiner**
David Holloway FCA DChA Ribchesters Chartered Accountants Finchale House Belmont Business Park Durham DH1 1TW
Approved by order of the board of trustees on 10 March 2022 and signed on its behalf by:
C Foxton - Trustee
Page 1
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NORTH EASTERN LOCOMOTIVE PRESERVATION GROUP**
## **Independent examiner's report to the trustees of North Eastern Locomotive Preservation Group ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2021.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
David Holloway FCA DChA Ribchesters Chartered Accountants Finchale House Belmont Business Park Durham DH1 1TW
10 March 2022
Page 2
## **NORTH EASTERN LOCOMOTIVE PRESERVATION GROUP**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021**
|Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
40,729
Other trading activities
3
80,551
Investment income
4
4,416
**Total**
125,696
**EXPENDITURE ON**
Raising funds
5
8,302
**Charitable activities**
Promotion, restoration and preservation
102,523
**Total**
110,825
Net gains on investments
29,588
**NET INCOME**
44,459
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
729,016
**TOTAL FUNDS CARRIED FORWARD**
773,475|Restricted
funds
£
43,695
-
-
43,695
-
33,280
33,280
-
10,415
11,741
22,156|2021
Total
funds
£
84,424
80,551
4,416
169,391
8,302
135,803
144,105
29,588
54,874
740,757
795,631|2020
Total
funds
£
67,482
81,248
6,302|
|---|---|---|---|
||||155,032
11,489
119,761|
||||131,250
24,442|
||||48,224
692,533|
||||740,757|
The notes form part of these financial statements
Page 3
## **NORTH EASTERN LOCOMOTIVE PRESERVATION GROUP**
## **BALANCE SHEET 31 DECEMBER 2021**
|Unrestricted
funds
Notes
£
**FIXED ASSETS**
Tangible assets
9
20,186
**CURRENT ASSETS**
Debtors
10
16,116
Investments
11
185,937
Cash at bank
553,339
755,392
**CREDITORS**
Amounts falling due within one year
12
(2,103)
**NET CURRENT ASSETS**
753,289
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
773,475
**NET ASSETS**
773,475
**FUNDS**
13
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
funds
£
-
-
-
22,156
22,156
-
22,156
22,156
22,156|2021
Total
funds
£
20,186
16,116
185,937
575,495
777,548
(2,103)
775,445
795,631
795,631
773,475
22,156
795,631|2020
Total
funds
£
27,765
14,754
141,349
568,742
724,845
(11,853)
712,992
740,757
740,757
729,016
11,741
740,757|
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that 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 charitable 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 charitable company.
The notes form part of these financial statements
continued...
Page 4
## **NORTH EASTERN LOCOMOTIVE PRESERVATION GROUP**
## **BALANCE SHEET - continued 31 DECEMBER 2021**
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 10 March 2022 and were signed on its behalf by:
C Foxton - Trustee
C J Lawson - Trustee
The notes form part of these financial statements
Page 5
**NORTH EASTERN LOCOMOTIVE PRESERVATION GROUP**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold property - straight line over 10 years Improvements to property - straight line over 10 years Plant & equipment - straight line over 10 years Heritage assets - not provided Vehicles - straight line over 3 years
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Page 6
continued...
## **NORTH EASTERN LOCOMOTIVE PRESERVATION GROUP**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021**
## **2. DONATIONS AND LEGACIES**
|Grants
Royalties
Legacy fund
Patron donations
Sundry donations
**3.**
**OTHER TRADING ACTIVITIES**
Locomotive hire fees
Sales
**4.**
**INVESTMENT INCOME**
Bank interest receivable
**5.**
**RAISING FUNDS**
**Raising donations and legacies**
Stock for resale
Support costs
**6.**
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets|2021
£
-
-
100
29,000
55,324
84,424|2020
£
11,000
-
250
28,345
27,887
67,482
2021
£
79,600
951
80,551
2021
£
4,416
2021
£
427
7,875
8,302
2021
£
7,579|2020
£
76,496
4,752
81,248
2020
£
6,302
2020
£
3,146
8,343
11,489
2020
£
7,875|
|---|---|---|---|
continued...
Page 7
**NORTH EASTERN LOCOMOTIVE PRESERVATION GROUP**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021**
## **7. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.
The charity made allowances totalling £1,470 during the year for expenses claimed by the trustees whilst doing volunteer work for the specific charitable areas (2020:£875).
|**8.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
51,500
Other trading activities
80,093
Investment income
6,302
**Total**
137,895
**EXPENDITURE ON**
Raising funds
11,489
**Charitable activities**
Promotion, restoration and preservation
112,865
**Total**
124,354
Net gains on investments
24,442
**NET INCOME**
37,983
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
691,033
**TOTAL FUNDS CARRIED FORWARD**
729,016|Restricted
funds
£
15,982
1,155
-
17,137
-
6,896
6,896
-
10,241
1,500
11,741|Total
funds
£
67,482
81,248
6,302|
|---|---|---|
|||155,032
11,489
119,761|
|||131,250
24,442|
|||48,224
692,533|
|||740,757|
continued...
Page 8
## **NORTH EASTERN LOCOMOTIVE PRESERVATION GROUP**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021**
## **9. TANGIBLE FIXED ASSETS**
|**9.**|**TANGIBLE FIXED ASSETS**||||
|---|---|---|---|---|
||||Improvements||
|||Leasehold|
to|Plant &|
|||property|
property|equipment|
|||£|£|£|
||**COST**||||
||At 1 January 2021 and 31 December 2021|33,963|28,986|21,468|
||**DEPRECIATION**||||
||At 1 January 2021|27,168|28,986|18,872|
||Charge for year|3,396|-|1,851|
||At 31 December 2021|30,564|28,986|20,723|
||**NET BOOK VALUE**||||
||At 31 December 2021|3,399|-|745|
||At 31 December 2020|6,795|-|2,596|
|||Heritage|||
|||assets|Vehicles|Totals|
|||£|£|£|
||**COST**||||
||At 1 January 2021 and 31 December 2021|14,100|6,995|105,512|
||**DEPRECIATION**||||
||At 1 January 2021|-|2,721|77,747|
||Charge for year|-|2,332|7,579|
||At 31 December 2021|-|5,053|85,326|
||**NET BOOK VALUE**||||
||At 31 December 2021|14,100|1,942|20,186|
||At 31 December 2020|14,100|4,274|27,765|
|**10.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||||
||||2021|2020|
||||£|£|
||Gift aid debtor||10,477|8,184|
||Accrued income||5,639|6,570|
||||16,116|14,754|
continued...
Page 9
## **NORTH EASTERN LOCOMOTIVE PRESERVATION GROUP**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021**
## **11. CURRENT ASSET INVESTMENTS**
|Investment management fund
**12.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
VAT
Accrued expenses||2021
£
185,937
2021
£
903
1,200
2,103||2020
£
141,349|
|---|---|---|---|---|
|||||2020
£
4,508
7,345|
|||||11,853|
## **13. MOVEMENT IN FUNDS**
|**Unrestricted funds**
General fund
Locomotive Overhaul Fund
Locomotive Maintenance Fund
**Restricted funds**
J27 & Q6 Safety Valve Fund
J72 Restoration Fund
**TOTAL FUNDS**
Net movement in funds, included in the above are
**Unrestricted funds**
General fund
Locomotive Overhaul Fund
Locomotive Maintenance Fund
**Restricted funds**
J27 & Q6 Safety Valve Fund
J72 Restoration Fund
**TOTAL FUNDS**|At 1.1.21
£
54,119
444,381
230,516
729,016
1,135
10,606
11,741
740,757
as follows:
Incoming
resources
£
14,328
29,100
82,268
125,696
-
43,695
43,695
169,391|Net
movement
in funds
£
8,534
29,100
6,825
44,459
(1,135)
11,550
10,415
54,874
Resources
expended
£
(35,382)
-
(75,443)
(110,825)
(1,135)
(32,145)
(33,280)
(144,105)|Transfers
between
At
funds
31.12.21
£
£
(16,000)
46,653
(206,998)
266,483
222,998
460,339
-
773,475
-
-
-
22,156
-
22,156
-
795,631
Gains and
Movement
losses
in funds
£
£
29,588
8,534
-
29,100
-
6,825
29,588
44,459
-
(1,135)
-
11,550
-
10,415
29,588
54,874|
|---|---|---|---|
continued...
Page 10
**NORTH EASTERN LOCOMOTIVE PRESERVATION GROUP**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021**
## **13. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|Net
movement
At 1.1.20
in funds
£
£
**Unrestricted funds**
General fund
58,790
(9,195)
Locomotive Overhaul Fund
389,565
59,340
Locomotive Maintenance Fund
242,678
(12,162)
691,033
37,983
**Restricted funds**
J27 & Q6 Safety Valve Fund
1,500
(365)
J72 Restoration Fund
-
10,606
1,500
10,241
**TOTAL FUNDS**
692,533
48,224
Comparative net movement in funds, included in the above are as follows:|Transfers
between
funds
£
4,524
(4,524)
-
-
-
-
-
-|At
31.12.20
£
54,119
444,381
230,516|
|---|---|---|
|||729,016
1,135
10,606|
|||11,741|
|||740,757|
||||
|**Unrestricted funds**
General fund
Locomotive Overhaul Fund
Locomotive Maintenance Fund
**Restricted funds**
J27 & Q6 Safety Valve Fund
J72 Restoration Fund
**TOTAL FUNDS**|Incoming
resources
£
11,369
34,898
91,628
137,895
-
17,137
17,137
155,032|Resources
expended
£
(20,564)
-
(103,790)
(124,354)
(365)
(6,531)
(6,896)
(131,250)|Gains and
Movement
losses
in funds
£
£
-
(9,195)
24,442
59,340
-
(12,162)
24,442
37,983
-
(365)
-
10,606
-
10,241
24,442
48,224|
|---|---|---|---|
continued...
Page 11
**NORTH EASTERN LOCOMOTIVE PRESERVATION GROUP**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021**
## **13. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
Locomotive Overhaul Fund
Locomotive Maintenance Fund
**Restricted funds**
J27 & Q6 Safety Valve Fund
J72 Restoration Fund
**TOTAL FUNDS**|At 1.1.20
£
58,790
389,565
242,678
691,033
1,500
-
1,500
692,533|Net
movement
in funds
£
(661)
88,440
(5,337)
82,442
(1,500)
22,156
20,656
103,098|Transfers
between
funds
£
(11,476)
(211,522)
222,998
-
-
-
-
-|At
31.12.21
£
46,653
266,483
460,339|
|---|---|---|---|---|
|||||773,475
-
22,156|
|||||22,156|
|||||795,631|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Locomotive Overhaul Fund
Locomotive Maintenance Fund
**Restricted funds**
J27 & Q6 Safety Valve Fund
J72 Restoration Fund
**TOTAL FUNDS**|Incoming
resources
£
25,697
63,998
173,896
263,591
-
60,832
60,832
324,423|Resources
expended
£
(55,946)
-
(179,233)
(235,179)
(1,500)
(38,676)
(40,176)
(275,355)|Gains and
Movement
losses
in funds
£
£
29,588
(661)
24,442
88,440
-
(5,337)
54,030
82,442
-
(1,500)
-
22,156
-
20,656
54,030
103,098|
|---|---|---|---|
The trustees have designated funds for the purpose of financing cyclical overhauls of the locomotives which the charity own. These costs will be substantial and the trustees therefore feel it prudent to ring fence reserves to enable those assets to be protected for future generations to enjoy
continued...
Page 12
**NORTH EASTERN LOCOMOTIVE PRESERVATION GROUP**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021**
## **14. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 December 2021.
## **15. ULTIMATE CONTROLLING PARTY**
The charitable company is controlled by it's trustees.
Page 13
**NORTH EASTERN LOCOMOTIVE PRESERVATION GROUP**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Subscriptions and donations
Grants
Legacies
**Other trading activities**
Locomotive hire fees
Sales
**Investment income**
Bank interest receivable
**Total incoming resources**
**EXPENDITURE**
**Raising donations and legacies**
Stock for resale
**Charitable activities**
Insurance
Locomotive restoration costs
Workshop consumables
Travel & subsistence
Mainline costs
Workshop maintenance
Subscriptions and donations
Health and safety equipment
Training and medicals
Depreciation of leasehold property
Depreciation of plant and equipment
Depreciation of Vehicles
**Support costs**
**Management**
Administration costs
**Governance costs**
Accountancy and legal fees
Total resources expended
**Net income before gains and losses**|2021
£
84,324
-
100
84,424
79,600
951
80,551
4,416
169,391
427
17,200
82,313
-
5,890
11,967
4,795
593
-
3,758
3,396
1,851
2,332
134,095
8,383
1,200
144,105
25,286|2020
£
56,232
11,000
250|
|---|---|---|
|||67,482
76,496
4,752|
|||81,248
6,302|
|||155,032
3,146
16,274
42,256
2,695
6,025
37,540
4,397
-
264
1,235
3,396
2,147
2,332|
|||118,561
8,343
1,200|
|||131,250|
|||23,782|
This page does not form part of the statutory financial statements
Page 14
**NORTH EASTERN LOCOMOTIVE PRESERVATION GROUP**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021**
|**DETAILED STATEMENT OF FINANCIAL ACTIVITIES**
**FOR THE YEAR ENDED 31 DECEMBER 2021**|||
|---|---|---|
|**Realised recognised gains and losses**
Gains on current asset investments
**Net income**|2021
£
29,588
54,874|2020
£
24,442|
|||48,224|
This page does not form part of the statutory financial statements
Page 15