REGISTERED COMPANY NUMBER: 02848449 (England Wales) REGISTERED CHAIUTY NUMBER: 1040904 REPORT OF THE TRUSTEES AND CONSOLMATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR VINfAGE TRAINS CHAIUTABLE TRUST Mark J Rees LLP. Stattltorv Auditor Chartered Accountants Granville Hall Granville Road Leices LEI 7RU VINTAGE TIL41NS CHARITABLE TRUST CONTENTS OF THE FINANCIAL STATEMEIYTS FOR THE YEAR ENDED 31 MARCH 2024 Page Report ot the Trustees I to5 Report of thc Indep¢ndent Auditors 6t08 Consolidated Stdtcment of Financial Activities Consolidated Balance Sheet Company Balance Sheet 2to 11 Coiisolidatcd Casli Flow Stateiiieiit 14 Noles to tlie Consolidalcd Casl) Flow Siafriiieiit 15 Notes lo IhL FindnLidl S￿l¢m¢.ntS 161034 VINTAGE TRAINS CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The Trustees who are also directors of the ¢haritv for the purposes of the Companies Act 2006, present their report with the financial statements of the charity foT the period ended 31 March 2024. The Tn]stees 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 l January 2019). The Trustees have referred to the guidance contained in the Charity Commission's general guidance on public ben¢fit when revxewing the charitable company's aims and objectives and in planning future actkvities. In particular, the Directors have considered how pla[￿ed activities will contribute to the aims and objectives set. OBJECTIVES AND ACTIVITIES The principal activity and objectives of the charitable company are to encourage and promote public interest in the preservation of steam and other railway locomotives and rolling stock. machinery and equipment of historical interest, and in railways, locomotives, rolling stock, and railway machinery and equipment generally. In the furtherdnee of tbis objective, we have continued with the restoration of our collection of locomotives and mlling stock. We are one of the most highly respected providers of specialist beritage engineering services in the United Kingdom and consequently we are able to attract significant extemal engineering work which is undertaken by our wholly owned subsidiary, Tyseley Locomotive Works Limited. whose custoiners include not only the heritage railway sector. but also modern railway operators. In the course of its activities, Tyseley Locomotive Works Limited propagates the use of engIneerll￿ skills and techniques otherwise at risk of extinction. Our employees, apprentices and volunteers learn ncw skilIs. providing them with unique knowledge available in very other environments. and this is a sound basis for their future careers. The Vislon - PYNTAGE TRAINS.. EXPRESS STEAM TRAIIVS ENGIIVEEIUIVGA FUTURE FOR EYER YONE Our Mission To share the romance and excitement of express steam trains with the world. We will do this by: Developing a main line heritage railway Company open to everyone BringÈng ¢xpr¢ss steam trains into regular public service for the benefit of everyone Developing the skills and capacities of new generations in heritage railway engineering Operating our collection to the highest standards (this includes Tyseley depot and the locomotives and carriages) Creating new experiences b&sed upon an apprexiation of the past Sharing the fas¢inating stories of Birmingham's industrial railway beritsge with the world In order to- Inspire the public to travel by express steam trains Our Values Engineering excellence in all that we do Showcasing our heritage for present and ￿tUre generations Open to everyone Build partnerships and work collaboratively Rooted within ihe community Local. national and global imDOrtance Lone tenn s￿staInabl￿n age I VINTAGE TRAINS CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Our Brand - Vintage Trains has a strong and recognised brand which is made up of several elements.. A vision A inission purpose Value5 A consistent house stvle and tone of voiee.. Logo Uniform approved font Consistent messages from all staff and volllnteers Followingy the Covid_19 pandemic, duringy which lime our train opeiations. carried out by Vintagie Trains Limited. were suspended, we rccominenced opcrdlions from August 2021 and a full train progrdmme iecommenccd in 2022. i o enable our Vision and Mission to be achieved. we work closely with Vintage Trains Community Bcncfit Society ICBS). This was fonned under the Co-operative and Community Benefit SoLteties Act with Financial Conduct Authority (rcgistration number 7668). We are the Pdrcnt of this Lumpany and are enlitlcd to appoint the tnajority of its board of directors and. in the majority of circumstances, have niember control. The CBS opened a ComTnunity Share Offer on I Deceinber 2017, approved by the Finaiicial Coiiduct Authority, and this clo.sed on 30 April 2019, havtng raised some £1. I million in share capital. The purpose of the offeT was to encourage community involvernent in railways. from a base at our Tvselev depot. including the estsblishment of a COTnpany lo operale express steam traiiis on the nationdl railway network. ACHIEVEMENT AND PERFORMANCE We Lolltinue lo havc custodial stewardship ol'the 7029 Clun Casile Limited colleotion of luLomotives and rullingy slock. The Direcloits closely inonilor thL perlormallLc of its Irading subsidiary, TysLlcy Locoinolivc Work5 Liiniled in accordance with tried ¢U]d iested financial Tnethodology and business reporting. It has adopled the same practice with VintagFe Trains Community BcnLfil Society and its subsidiaiy Vinlagc Trains Limited. Tyscley LoLomotivL Works continued to pi-ovidc sptscialist enginccringy iind resloralion scrvices to thL hcTitagc railwdy industry diid also on our own collection of loconiotiveb and rollingi stock. It hds also m