**REGISTERED COMPANY NUMBER: 02970246 (England and Wales) REGISTERED CHARITY NUMBER: 1042090**
**Report of the Trustees and**
**Unaudited Financial Statements for the Year Ended 31 December 2021**
**for**
**The Princess Royal Class Locomotive Trust**
**The Princess Royal Class Locomotive Trust**
**Contents of the Financial Statements for the Year Ended 31 December 2021**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|4|
|**Independent Examiner's Report**||5||
|**Statement of Financial Activities**||6||
|**Statement of Financial Position**|7|to|8|
|**Notes to the Financial Statements**|9|to|16|
|**Detailed Statement of Financial Activities**||17||
**The Princess Royal Class Locomotive Trust**
**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).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The objectives of the trust are:-
The restoration, preservation, operation and display of its steam locomotives;
The restoration, preservation, display and where appropriate, the operation of its rolling stock;
The operation of the 'West Shed Experience' Museum, which aims to exhibit the full history of the trust's LMS Pacific Class, British Railway's 2-6-4T and narrow gauge locomotives and its exceptional collection of historic rolling stock and artefacts.
## **Public benefit**
By working towards the objectives above and carrying out the charitable activities below the charity is providing the public with the benefit of having access to historic locomotives and the history surrounding them.
Page 1
**The Princess Royal Class Locomotive Trust**
## **Report of the Trustees for the Year Ended 31 December 2021**
## **ACHIEVEMENT AND PERFORMANCE Charitable activities**
## **Locomotives**
Duchess of Sutherland locomotive was unable to be hired out until 30 October 2021 due to the Covid 19 restrictions. It was the hired on 10 occasions in the year.
BR 4MT Standard tank locomotive 80098 remained a static exhibit in the West Shed Experience Museum.
BR 4MT Standard tank locomotive 80080 was unable to be hired out until May 2021 because of the Covid 19 restrictions.
## **Rolling Stock**
Special Saloon 45000
Restoration work by volunteers continued throughout the year on the interior of the saloon.
## L M S No 1 Dynamometer Car 45050
This vehicle is now on permanent static display in the museum with various forms of supporting interpretation and is used during guided tours and school visits.
## Inspection Saloon 6320
On loan to Vintage Trains for their use from October 2021 together with their hire of the Duchess of Sutherland.
## Support Coach 99040
Resumed duties with Duchess of Sutherland in the mainline on October 2021.
## Support Coach 99041
On static exhibition at West Shed.
## **Museum & Education**
COVID-19 forced us to remain closed until July 2021.
However, work at the museum has continued behind the scenes. During 2021 we continued to participate in the 'Digital Heritage Lab' - a free programme for small to medium heritage organisations seeking to develop their digital capabilities and capacity, funded through The National Lottery Heritage Fund as part of the Digital Skill for Heritage initiative. During the programme, our Museum Curator and several volunteers attended numerous online training events on topics including fundraising, marketing, website accessibility, using social media and putting museum collections online.
Other online training and networking events attended by the Curator and volunteers during 2021 included the conference of the Association of Independent Museums, meetings of the Derbyshire Museums & Heritage Forum, and the Museum Development East Midlands 'Engaging with Schools' network.
## **FINANCIAL REVIEW**
## **Investment policy and objectives**
The company has no direct investments, other than cash at bank. Interest is earned on surplus cash balances.
Page 2
**The Princess Royal Class Locomotive Trust**
## **Report of the Trustees for the Year Ended 31 December 2021**
## **FINANCIAL REVIEW**
## **Reserves policy**
It is the policy of the charity to maintain unrestricted funds, which are free reserves of the charity of the charity, at a level which provides sufficient funds to cover management, administration and support costs; and to respond to emergency applications for grants, which arise from time to time.
Unrestricted free reserves at the end of 2021 were £190,207 (2020: £30,736) disclosing an increase in the year. The Trustees are confident that this reserve together with the concentrated fundraising during 2021 continuing into 2022 will enable the Trust to continue its progress in restoring and maintaining its stock of locomotives and coaches.
## **Going concern**
On 11 March 2020, the World Health Organisation officially declared COVID-19 as a pandemic.
The accounts have been prepared on a going concern basis as although there are indicators of financial impact in relation to COVID-19 the trustees have taken what are considered all necessary measures to protect the charity from this to limit any adverse impact.
The trustees anticipate the charity continuing to operate for the foreseeable future and are monitoring the situation.
## **Review of the Financial Year**
Total unrestricted incoming resources for the Trust reached £365,429 (2020: £164,488) this included a trading donation from PRCLT Company of £230,900 (2020: £70,894). Yet again highlighting the importance the Trust's profit making activates which the subsidiary carries out. The Trust continues to rely heavily upon the support and generosity of its Patrons and other donors who during the year contributed £130,843 (2020: £49,723).
The Trust's general expenses continue to be closely monitored to ensure that sufficient funds will be available for general revenue expenses.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, the memorandum and articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
## **Recruitment and appointment of new trustees**
The existing board of trustees undertakes the selection, recruitment and appointment of new trustees
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
02970246 (England and Wales)
## **Registered Charity number**
1042090
## **Registered office**
The West Shed Midland Railway Centre Swanwick Junction Ripley Derbyshire DE5 4AD
Page 3
**The Princess Royal Class Locomotive Trust**
## **Report of the Trustees for the Year Ended 31 December 2021**
## **Trustees**
G Oulsnam J B Radford (resigned 30/4/2021) P S Wood C R Longmate L Truswell M Hollingworth G Henshall D Tilling C Powell
## **Company Secretary**
G Oulsnam
## **Independent Examiner**
K R Carey BA FCA ICAEW McDade Roberts Accountants Limited Chartered Accountants 316 Blackpool Road Fulwood Preston Lancashire PR2 3AE
## **SHARE CAPITAL**
The company is limited by guarantee and does not have a share capital.
Approved by order of the board of trustees on 4 October 2022 and signed on its behalf by:
C R Longmate - Trustee
Page 4
**Independent Examiner's Report to the Trustees of The Princess Royal Class Locomotive Trust**
## **Independent examiner's report to the trustees of The Princess Royal Class Locomotive Trust ('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**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of ICAEW which is one of the listed bodies.
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.
K R Carey BA FCA ICAEW McDade Roberts Accountants Limited Chartered Accountants 316 Blackpool Road Fulwood Preston Lancashire PR2 3AE
4 October 2022
Page 5
**The Princess Royal Class Locomotive Trust**
## **Statement of Financial Activities for the Year Ended 31 December 2021**
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
130,844
**Charitable activities**
Expenditure
-
Other trading activities
2
230,900
Investment income
3
10
Other income
3,686
**Total**
365,440
**EXPENDITURE ON**
Raising funds
4
4,170
**Charitable activities**
5
Expenditure
201,799
**Total**
205,969
**NET INCOME/(EXPENDITURE)**
159,471
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
30,736
**TOTAL FUNDS CARRIED FORWARD**
190,207|Restricted
funds
£
-
-
-
-
-
-
-
29,618
29,618
(29,618)
190,855
161,237|31.12.21
Total
funds
£
130,844
-
230,900
10
3,686
365,440
4,170
231,417
235,587
129,853
221,591
351,444|31.12.20
Total
funds
£
49,723
11,650
70,894
24
34,247
166,538
8,175
203,156
211,331
(44,793)
266,384
221,591|
|---|---|---|---|
The notes form part of these financial statements
Page 6
**The Princess Royal Class Locomotive Trust**
## **Statement of Financial Position 31 December 2021**
|Unrestricted
fund
Notes
£
**FIXED ASSETS**
Tangible assets
10
(3,752)
Heritage assets
11
6,600
2,848
**CURRENT ASSETS**
Debtors
13
78,817
Cash at bank
195,374
274,191
**CREDITORS**
Amounts falling due within one year
14
(86,832)
**NET CURRENT ASSETS**
187,359
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
190,207
**NET ASSETS**
190,207
**FUNDS**
16
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
funds
£
169,932
-
169,932
-
-
-
(8,695)
(8,695)
161,237
161,237|31.12.21
Total
funds
£
166,180
6,600
172,780
78,817
195,374
274,191
(95,527)
178,664
351,444
351,444
190,207
161,237
351,444|31.12.20
Total
funds
£
200,973
6,600
207,573
20,728
128,683
149,411
(135,393)
14,018
221,591
221,591
30,736
190,855
221,591|
|---|---|---|---|
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
Page 7
**The Princess Royal Class Locomotive Trust**
## **Statement of Financial Position - 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 4 October 2022 and were signed on its behalf by:
C R Longmate - Trustee
The notes form part of these financial statements
Page 8
**The Princess Royal Class Locomotive Trust**
**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, with the exception of investments which are included at market value.
## **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.
During the year the company was in receipt of relief in respect of the Coronavirus Job Retention Scheme. The income is recorded based on the claim periods made relating the financial year.
## **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.
Buildings - 5% on cost Plant and machinery - 25% on cost Computer equipment - 33% on cost
## **Heritage assets**
There is no depreciation charge on heritage assets because it has been estimated that the assets have a useful life of such length that any depreciation charge would be negligible and can be ignored on the basis of materiality.
This is contrary to Generally Accepted Accounting principles.
## **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 note 16.
Page 9
**The Princess Royal Class Locomotive Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2021**
|**2.**
**OTHER TRADING ACTIVITIES**
Donated Profits from PRCLT Ltd
**3.**
**INVESTMENT INCOME**
Bank Interest Received
**4.**
**RAISING FUNDS**
**Raising donations and legacies**
Telephone
Publications
Sundries
**5.**
**CHARITABLE ACTIVITIES COSTS**
Expenditure
**6.**
**DIRECT COSTS OF CHARITABLE ACTIVITIES**
Staff costs
Locomotive Expenses
Insurance
Light and heat
Examination Fees
Repairs & renewals
Bank Charges
Depreciation|Direct
Costs (see
note 6)
£
228,817|31.12.21
£
230,900
31.12.21
£
10
31.12.21
£
1,275
55
2,840
4,170
Support
costs
£
2,600
31.12.21
£
118,703
29,288
24,244
1,575
4,322
15,122
770
34,793
228,817|31.12.20
£
70,894|
|---|---|---|---|
||||31.12.20
£
24
31.12.20
£
1,680
535
5,960
8,175
Totals
£
231,417|
||||31.12.20
£
121,566
20,948
15,335
4,898
770
2,105
1,041
34,793|
||||201,456|
Page 10
**The Princess Royal Class Locomotive Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2021**
## **7. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
||31.12.21|31.12.20|
|---|---|---|
||£|£|
|Depreciation - owned assets|34,793|34,794|
## **8. 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.
## **9. STAFF COSTS**
The average monthly number of employees during the year was as follows:
||31.12.21|31.12.20|
|---|---|---|
|Administrative|5|5|
No employees received emoluments in excess of £60,000.
## **10. TANGIBLE FIXED ASSETS**
|**COST**
At 1 January 2021 and
31 December 2021
**DEPRECIATION**
At 1 January 2021
Charge for year
At 31 December 2021
**NET BOOK VALUE**
At 31 December 2021
At 31 December 2020|Freehold
property
£
2,500
-
-
-
2,500
2,500|Buildings
£
813,572
619,814
33,678
653,492
160,080
193,758|Plant and
machinery
£
80,112
75,774
930
76,704
3,408
4,338|Computer
equipment
£
9,297
8,920
185
9,105
192
377|Totals
£
905,481|
|---|---|---|---|---|---|
||||||704,508
34,793|
||||||739,301|
||||||166,180|
||||||200,973|
Included in cost or valuation of land and buildings is freehold land of £2,500 (2020 - £2,500) which is not depreciated.
Page 11
**The Princess Royal Class Locomotive Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2021**
## **11. HERITAGE ASSETS**
|**MARKET VALUE**
At 1 January 2021 and
31 December 2021
**NET BOOK VALUE**
At 31 December 2021
At 31 December 2020|Total
£
6,600|
|---|---|
||6,600|
||6,600|
In accordance with Statement of Recommended Practice on Accounting for Charities the company's historic assets have not been capitalised unless purchased since 1st January 2008. Details of the company's historic assets which have not been capitalised due to their acquisition prior to this date are as follows:
- 1) Locomotive 46233 "Duchess of Sutherland" currently being used by the Trust's subsidiary to generate income.
- 2) Locomotive 80098 on static display.
- 3) Locomotive 80080 currently on contract hire to a heritage railway.
- 4) Locomotive 46203 currently on static display and awaiting restoration.
5) 21 " gauge locomotive 6203 and one coach on display.
- 6) 21" locomotive 6201 and two coaches on display.
7) LMS General Manager's saloon 6320 in full working order and on hire to a Heritage railway and customers.
- 8) Royal Special Saloon 45000 on static display after restoration was completed.
- 9) Dynamometer Car No.1 fully restored and on static display.
The Trustees are of the opinion that the total value of these historic assets is £4,325,000.
The other railway vehicles not listed as Museum items have an estimated value of £210,000.
The charity also owns other historical artefacts and a museum collection with an estimated value of £202,000.
The charity also owns several smaller items of railway equipment with a going concern value given by the trustees of approximately £82,000. This has been given to the trust to be repaired or renovated as necessary.
## **12. FIXED ASSET INVESTMENTS**
There were no investment assets outside the UK.
The company's investments at the balance sheet date in the share capital of companies include the following:
|**PRCLT Company Ltd**||
|---|---|
|Registered office:||
|Nature of business: Locomotive operation||
||%|
|Class of share:|holding|
|Ordinary|100|
Page 12
**The Princess Royal Class Locomotive Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2021**
## **12. FIXED ASSET INVESTMENTS - continued**
The shares in the company were gifted to the company on incorporation and consequently have no cost in the company's accounts.
## **13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Other debtors
Prepayments
**14.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Bank loans and overdrafts (see note 15)
Trade creditors
Social security and other taxes
VAT
Other creditors
Accrued expenses
**15.**
**LOANS**
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank overdrafts
**16.**
**MOVEMENT IN FUNDS**
At 1.1.21
£
**Unrestricted funds**
General fund
30,736
**Restricted funds**
West Shed Extension
190,855
**TOTAL FUNDS**
221,591|31.12.21
£
78,621
196
78,817
31.12.21
£
8,695
23,229
2,133
14,389
40,505
6,576
95,527
31.12.21
£
8,695
Net
movement
in funds
£
159,471
(29,618)
129,853|31.12.20
£
14,314
6,414
20,728
31.12.20
£
59,236
25,194
2,676
2,976
40,488
4,823|
|---|---|---|
|||135,393|
|||31.12.20
£
59,236
At
31.12.21
£
190,207
161,237|
|||351,444|
Page 13
**The Princess Royal Class Locomotive Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2021**
## **16. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
West Shed Extension
**TOTAL FUNDS**|Incoming
resources
£
365,440
-
365,440|Resources
Movement
expended
in funds
£
£
(205,969)
159,471
(29,618)
(29,618)
(235,587)
129,853|
|---|---|---|
## **Comparatives for movement in funds**
|At 1.1.20
£
**Unrestricted funds**
General fund
45,911
**Restricted funds**
West Shed Extension
140,314
George Locomotive Restoration
52,359
Diesel Shunter
26,500
Museum Grant
1,300
220,473
**TOTAL FUNDS**
266,384
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
164,488
**Restricted funds**
West Shed Extension
-
Museum Grant
2,050
2,050
**TOTAL FUNDS**
166,538|Net
movement
At
in funds
31.12.20
£
£
(15,175)
30,736
(29,618)
110,696
-
52,359
-
26,500
-
1,300
(29,618)
190,855
(44,793)
221,591
Resources
Movement
expended
in funds
£
£
(179,663)
(15,175)
(29,618)
(29,618)
(2,050)
-
(31,668)
(29,618)
(211,331)
(44,793)|
|---|---|
Page 14
**The Princess Royal Class Locomotive Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2021**
## **16. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
West Shed Extension
George Locomotive Restoration
Diesel Shunter
Museum Grant
**TOTAL FUNDS**|At 1.1.20
£
45,911
140,314
52,359
26,500
1,300
220,473
266,384|Net
movement
in funds
£
144,296
(59,236)
-
-
-
(59,236)
85,060|At
31.12.21
£
190,207
81,078
52,359
26,500
1,300|
|---|---|---|---|
||||161,237|
||||351,444|
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
**Restricted funds**
West Shed Extension
Museum Grant
**TOTAL FUNDS**|Incoming
resources
£
529,928
-
2,050
2,050
531,978|Resources
Movemen
expended
in funds
£
£
(385,632)
144,296
(59,236)
(59,236)
(2,050)
-
(61,286)
(59,236)
(446,918)
85,060|Resources
Movemen
expended
in funds
£
£
(385,632)
144,296
(59,236)
(59,236)
(2,050)
-
(61,286)
(59,236)
(446,918)
85,060|
|---|---|---|---|
||||(59,236)|
||||85,060|
## **West Shed Extension**
This fund relates to the building of the charity's museum. This was funded mainly from a grant received from the Heritage Lottery Fund and the company's own general fund. This project has been completed. Any further costs relate to depreciation charges.
## **George Locomotive Restoration and Diesel Shunter Funds**
These two funds relate to two locomotives acquired by the charity with a view to restoring them to full working order and to be displayed in the charity's museum. It is anticipated that there is sufficient funds available to complete this work. Any shortfall will be met out from further appeals or from the general fund, if so required.
Page 15
**The Princess Royal Class Locomotive Trust**
**Notes to the Financial Statements - continued for the Year Ended 31 December 2021**
## **17. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 December 2021.
Page 16
**The Princess Royal Class Locomotive Trust**
## **Detailed Statement of Financial Activities for the Year Ended 31 December 2021**
||31.12.21|31.12.20|
|---|---|---|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Gifts & Donations|130,844|49,723|
|**Other trading activities**|||
|Donated Profits from PRCLT Ltd|230,900|70,894|
|**Investment income**|||
|Bank Interest Received|10|24|
|**Charitable activities**|||
|Grants|-|11,650|
|**Other income**|||
|Government grants|3,686|34,247|
|**Total incoming resources**|365,440|166,538|
|**EXPENDITURE**|||
|**Raising donations and legacies**|||
|Telephone|1,275|1,680|
|Publications|55|535|
|Sundries|2,840|5,960|
||4,170|8,175|
|**Charitable activities**|||
|Wages|118,703|121,566|
|Locomotive Expenses|29,288|20,948|
|Insurance|24,244|15,335|
|Light and heat|1,575|4,898|
|Examination Fees|4,322|770|
|Repairs & renewals|15,122|2,105|
|Bank Charges|770|1,041|
|Buildings|33,678|33,678|
|Plant and machinery|930|930|
|Computer equipment|185|185|
||228,817|201,456|
|**Support costs**|||
|**Governance costs**|||
|Accountancy|2,600|1,700|
|Total resources expended|235,587|211,331|
|**Net income/(expenditure)**|129,853|(44,793)|
This page does not form part of the statutory financial statements
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