**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 2023**
**for**
**The Princess Royal Class Locomotive Trust**
**The Princess Royal Class Locomotive Trust**
**Contents of the Financial Statements for the Year Ended 31 December 2023**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|4|
|**Independent Examiner's Report**|5|to|6|
|**Statement of Financial Activities**||7||
|**Statement of Financial Position**|8|to|9|
|**Notes to the Financial Statements**|10|to|17|
|**Detailed Statement of Financial Activities**||18||
**The Princess Royal Class Locomotive Trust**
**Report of the Trustees for the Year Ended 31 December 2023**
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 2023. 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).
## **Opening Comments**
2023 has been a year with recovery still being made from the Pandemic. Changes have taken place at Director level and this has enabled a change of emphasis to various elements of the Trust's activities.
The Directors intend the Trust to remain financially stable and without recourse to any financial borrowing during the coming year as work proceeds on the restoration of DUCHESS OF SUTHERLAND and 80098 to running condition.
## **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 2023**
## **ACHIEVEMENT AND PERFORMANCE Charitable activities Locomotives**
6233 DUCHESS OF SUTHERLAND locomotive succumbed to a number of mechanical problems and unfortunately did not run further tours in 2023.
BR 4MT Standard tank locomotive 80098 the stripping down of the locomotive continues in preparation of a complete overhaul.
BR 4MT Standard tank locomotive 80080 continues to be hired out to the Ecclesbourne Valley Railway on a long term basis and provides a useful income.
## **Rolling Stock**
Special Saloon 45000
Restoration work by volunteers is by and large complete there are some small items that need attention..
## 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 during the year.
Support Coach 35476 was 99041
Support Coach 21232 was 99040 On static display at West Shed.
## **Museum & Education**
Following Covid the Museum has reopened with a small income being from sales.
During the year we lost our curator and some volunteers due to the effects of Covid. This has slowed progress on museum related matters.
## **FINANCIAL REVIEW**
## **Investment policy and objectives**
The company has no direct investments, other than cash at bank. Interest is earned on surplus cash balances.
## **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 2023 were £387,383 (2022: £76,915) disclosing an increase in the year. The Trustees are confident that this reserve together with the concentrated fundraising during 2023 continuing into 2024 will enable the Trust to continue its progress in restoring and maintaining its stock of locomotives and coaches.
Page 2
**The Princess Royal Class Locomotive Trust**
**Report of the Trustees for the Year Ended 31 December 2023**
## **FINANCIAL REVIEW**
## **Review of the Financial Year**
Total unrestricted incoming resources for the Trust reached £551,897 (2022: £264,965) this included a trading donation from PRCLT Company of £215,787 (2022: £231,831). 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 £268,110 (2022: £23,975).
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
## **Trustees**
G Oulsnam (resigned 25/7/2023) P S Wood (resigned 25/8/2023) L Truswell (resigned 25/7/2023) M Hollingworth G Henshall D Tilling (resigned 25/7/2023) C Powell
## **Company Secretary**
G Oulsnam
Page 3
## **The Princess Royal Class Locomotive Trust**
## **Report of the Trustees for the Year Ended 31 December 2023**
## **REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner**
K R Carey BA FCA 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 ............................................. and signed on its behalf by:
.................................................................... C Powell - 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 2023.
## **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.
Page 5
**Independent Examiner's Report to the Trustees of The Princess Royal Class Locomotive Trust**
## **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 member of the Institute of Chartered Accountants in England and Wales, 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
McDade Roberts Accountants Limited Chartered Accountants 316 Blackpool Road Fulwood Preston Lancashire PR2 3AE
Date: .............................................
Page 6
**The Princess Royal Class Locomotive Trust**
## **Statement of Financial Activities for the Year Ended 31 December 2023**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Other trading activities
2
Investment income
3
**Total**
**EXPENDITURE ON**
Raising funds
4
**Charitable activities**
5
Expenditure
**Total**
**NET INCOME/(EXPENDITURE)**
**Transfers between funds**
16
**Net movement in funds**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
£
263,761
215,787
1,157
480,705
2,964
158,405
161,369
319,336
(8,871)
310,465
76,915
387,380|Restricted
funds
£
72,351
-
-
72,351
-
171,869
171,869
(99,518)
8,871
(90,647)
131,619
40,972|31.12.23
31.12.22
Total
Total
funds
funds
£
£
336,112
33,134
215,787
231,831
1,157
275
553,056
265,240
2,964
4,336
330,274
403,814
333,238
408,150
219,818
(142,910)
-
-
219,818
(142,910)
208,534
351,444
428,352
208,534|
|---|---|---|---|
The notes form part of these financial statements
Page 7
**The Princess Royal Class Locomotive Trust**
## **Statement of Financial Position 31 December 2023**
|Notes
**FIXED ASSETS**
Tangible assets
10
Heritage assets
11
**CURRENT ASSETS**
Debtors
13
Cash at bank
**CREDITORS**
Amounts falling due within one year
14
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
16
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Unrestricted
fund
£
26,912
6,600
33,512
335,880
41,747
377,627
(23,759)
353,868
387,380
387,380|Restricted
funds
£
40,971
-
40,971
-
-
-
1
1
40,972
40,972|31.12.23
Total
funds
£
67,883
6,600
74,483
335,880
41,747
377,627
(23,758)
353,869
428,352
428,352
387,380
40,972
428,352|31.12.22
Total
funds
£
131,387
6,600
137,987
67,489
91,276
158,765
(88,218)
70,547
208,534
208,534
76,915
131,619
208,534|
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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 8
**The Princess Royal Class Locomotive Trust**
**Statement of Financial Position - continued 31 December 2023**
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 ............................................. and were signed on its behalf by:
............................................. C Powell - Trustee
The notes form part of these financial statements
Page 9
**The Princess Royal Class Locomotive Trust**
**Notes to the Financial Statements for the Year Ended 31 December 2023**
## **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 10
**The Princess Royal Class Locomotive Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2023**
|**2.**
**OTHER TRADING ACTIVITIES**
Donated Profits from PRCLT Ltd
**3.**
**INVESTMENT INCOME**
Bank Interest Received
**4.**
**RAISING FUNDS**
**Raising donations and legacies**
Telephone
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)
£
327,132|31.12.23
£
215,787
31.12.23
£
1,157
31.12.23
£
1,596
1,368
2,964
Support
costs
£
3,142
31.12.23
£
81,105
9,373
21,085
34,256
4,192
25,969
668
150,484
327,132|31.12.22
£
231,831|
|---|---|---|---|
||||31.12.22
£
275
31.12.22
£
1,303
3,033
4,336
Totals
£
330,274|
||||31.12.22
£
127,363
191,976
20,207
3,050
-
23,213
1,000
34,793|
||||401,602|
Page 11
**The Princess Royal Class Locomotive Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2023**
## **7. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
||31.12.23|31.12.22|
|---|---|---|
||£|£|
|Depreciation - owned assets|150,484|34,793|
## **8. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.
## **9. STAFF COSTS**
The average monthly number of employees during the year was as follows:
||31.12.23|31.12.22|
|---|---|---|
|Administrative|4|5|
No employees received emoluments in excess of £60,000.
## **10. TANGIBLE FIXED ASSETS**
|**COST**
At 1 January 2023
Additions
At 31 December 2023
**DEPRECIATION**
At 1 January 2023
Charge for year
At 31 December 2023
**NET BOOK VALUE**
At 31 December 2023
At 31 December 2022|Freehold
property
£
2,500
-
2,500
-
-
-
2,500
2,500|Buildings
£
813,572
-
813,572
687,170
126,253
813,423
149
126,402|Plant and
machinery
£
80,112
86,980
167,092
77,634
24,224
101,858
65,234
2,478|Computer
equipment
£
9,297
-
9,297
9,290
7
9,297
-
7|Totals
£
905,481
86,980|
|---|---|---|---|---|---|
||||||992,461|
||||||774,094
150,484|
||||||924,578|
||||||67,883|
||||||131,387|
Page 12
**The Princess Royal Class Locomotive Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2023**
## **10. TANGIBLE FIXED ASSETS - continued**
Included in cost or valuation of land and buildings is freehold land of £2,500 (2022 - £2,500) which is not depreciated.
## **11. HERITAGE ASSETS**
|**HERITAGE ASSETS**||
|---|---|
|**MARKET VALUE**
At 1 January 2023 and 31 December 2023
**NET BOOK VALUE**
At 31 December 2023
At 31 December 2022|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.
Page 13
**The Princess Royal Class Locomotive Trust**
**Notes to the Financial Statements - continued for the Year Ended 31 December 2023**
## **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
|**PRCLT Company Ltd**
Registered office:
Nature of business: Locomotive|operation|
|---|---|
||%|
|Class of share:|holding|
|Ordinary|100|
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
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Bank loans and overdrafts (see note 15)
Trade creditors
Social security and other taxes
Other creditors
Accrued expenses|31.12.23
£
335,880
-
335,880
31.12.23
£
-
-
(10,008)
30,266
3,500
23,758|31.12.22
£
63,861
3,628|31.12.22
£
63,861
3,628|
|---|---|---|---|
|||67,489||
|||31.12.22
£
8,695
40,153
2,325
30,469
6,576
88,218||
||||88,218|
## **14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Page 14
**The Princess Royal Class Locomotive Trust**
**Notes to the Financial Statements - continued for the Year Ended 31 December 2023**
## **15. LOANS**
An analysis of the maturity of loans is given below:
||||||31.12.23|31.12.22|
|---|---|---|---|---|---|---|
||||||£|£|
||Amounts falling due within one year on demand:||||||
||Bank overdrafts||||-|8,695|
|**16.**|**MOVEMENT IN FUNDS**||||||
|||||Net|Transfers||
|||||movement|between|At|
|||At 1.1.23||in funds|funds|31.12.23|
|||£||£|£|£|
||**Unrestricted funds**||||||
||General fund|76,915||319,336|(8,871)|387,380|
||**Restricted funds**||||||
||West Shed Extension|131,619||(140,165)|8,695|149|
||MEND 22 Project||-|40,647|176|40,823|
|||131,619||(99,518)|8,871|40,972|
||**TOTAL FUNDS**|208,534||219,818|-|428,352|
||Net movement in funds, included in the above are as follows:||||||
|||||Incoming|Resources|Movement|
|||||resources|expended|in funds|
|||||£|£|£|
||**Unrestricted funds**||||||
||General fund|||480,705|(161,369)|319,336|
||**Restricted funds**||||||
||West Shed Extension|||-|(140,165)|(140,165)|
||MEND 22 Project|||72,351|(31,704)|40,647|
|||||72,351|(171,869)|(99,518)|
||**TOTAL FUNDS**|||553,056|(333,238)|219,818|
Page 15
**The Princess Royal Class Locomotive Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2023**
## **16. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|Net
movement
At 1.1.22
in funds
£
£
**Unrestricted funds**
General fund
190,207
(113,292)
**Restricted funds**
West Shed Extension
161,237
(29,618)
**TOTAL FUNDS**
351,444
(142,910)
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
265,240
(378,532)
**Restricted funds**
West Shed Extension
-
(29,618)
**TOTAL FUNDS**
265,240
(408,150)
A current year 12 months and prior year 12 months combined position is as follows:|At
31.12.22
£
76,915
131,619|
|---|---|
||208,534|
||Movement
in funds
£
(113,292)
(29,618)|
||(142,910)|
|||
|**Unrestricted funds**
General fund
**Restricted funds**
West Shed Extension
MEND 22 Project
**TOTAL FUNDS**|At 1.1.22
£
190,207
161,237
-
161,237
351,444|Net
movement
in funds
£
206,044
(169,783)
40,647
(129,136)
76,908|Transfers
between
funds
£
(8,871)
8,695
176
8,871
-|At
31.12.23
£
387,380
149
40,823|
|---|---|---|---|---|
|||||40,972|
|||||428,352|
Page 16
**The Princess Royal Class Locomotive Trust**
**Notes to the Financial Statements - continued for the Year Ended 31 December 2023**
## **16. MOVEMENT IN FUNDS - continued**
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
MEND 22 Project
**TOTAL FUNDS**|Incoming
resources
£
745,945
-
72,351
72,351
818,296|Resources
expended
£
(539,901)
(169,783)
(31,704)
(201,487)
(741,388)|Movement
in funds
£
206,044
(169,783)
40,647
(129,136)
76,908|
|---|---|---|---|
## **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.
## **MEND 22 Project**
This fund relates to the grants received for installation of Solar Panels, all of which has been expensed and the project completed. Any further costs relate to depreciation charges.
## **17. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 December 2023.
Page 17
**The Princess Royal Class Locomotive Trust**
## **Detailed Statement of Financial Activities for the Year Ended 31 December 2023**
||31.12.23|31.12.22|
|---|---|---|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Gifts & Donations|336,112|33,134|
|**Other trading activities**|||
|Donated Profits from PRCLT Ltd|215,787|231,831|
|**Investment income**|||
|Bank Interest Received|1,157|275|
|**Total incoming resources**|553,056|265,240|
|**EXPENDITURE**|||
|**Raising donations and legacies**|||
|Telephone|1,596|1,303|
|Sundries|1,368|3,033|
||2,964|4,336|
|**Charitable activities**|||
|Wages|81,105|127,363|
|Locomotive Expenses|9,373|191,976|
|Insurance|21,085|20,207|
|Light and heat|34,256|3,050|
|Examination Fees|4,192|-|
|Repairs & renewals|25,969|23,213|
|Bank Charges|668|1,000|
|Buildings|126,253|33,678|
|Plant and machinery|24,224|930|
|Computer equipment|7|185|
||327,132|401,602|
|**Support costs**|||
|**Management**|||
|Postage and stationery|-|1,012|
|**Governance costs**|||
|Accountancy|3,142|1,200|
|Total resources expended|333,238|408,150|
|**Net income/(expenditure)**|219,818|(142,910)|
This page does not form part of the statutory financial statements
Page 18