REGISTERED COMPANY NUMBER: 03099322 (England and Wales)
REGISTERED CHARITY NUMBER: 1061693
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
FOR
HOLLYCOMBE WORKING STEAM MUSEUM
TravASS & Co Ltd
Chartered Certified ArKountants
Newtown House
38 Newtown Road
Liphook
Hampshire
GU30 7DX

HOLLYCOMBE WORKING STEAM MUSEUM
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 February 2024
Page
Report of the Trustees
Independent Examiller's Report
io
Statement of Finaneial Activities
Balance Sheet
12 to 13
Note$ to the Financial Statements
14 to 22

HOLLYCOMBE WORKING STEAM MUSEUM {REGISTERED NUMBER: 03099322)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 29 Februy4ry 2024
The Énlstees who are also directors of the charity for th¢ pU￿OSeS of the Companies Act 2006, present their report with
th¢ financial statements of the charity for the year ended 29 Febn￿ry 2024. Th¢ trustees have adopted the provisions of
Accounting and Reporting by Charities: Statement of Reconunended Practi¢¢ appli¢able to charlties preparing th¢ir
accounts in accordance with the Financial Reportiiig Standard applicable in the UK and Republic of Ir¢land (FRS 102)
(effective l January 2019).
OBJECTIVES AND ACTIVITIES
Objectlves and alms
The main objectives of the Hollycombe Working Steam Museum, as s¢t out in their governing document and
memorandiim of association are to preserve a collection of steam driven engines aiid associated equipment, relating to
life in rural areas in particular, and to provide education and enjoyment to visitors of the museum and to the volunteers
and others who play an ongoing part in the life of the collection.
The motto of the Museum is "It is our hope that enjoyment of past engineering triumphs will inspire in a new generation
the will to excel again."
Page I

HOLLYCOMBE WORKING STEAM MUSEUM (REGISTERED NUMBER: 03099322)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 29 February 2024
OBJECTIVES AND ACTfvITIES
Slgnlfi¢ant Actlvltles
Hollycombe is a working st¢am museum run mainly by volunt¢¢rs. Th¢r¢ is a ycar-round programtne of nmintenance
and restoration of items in th¢ collection, which is open to visitors in th¢ summ¢r s¢ason, usually continuing into mid
O¢tob¢r.
The collection is op¢n primarily at weekends and during the school holidays with a progran)me of early evening
openings on Saturdays in the closing weeks of the season.
Traditionally, school visits have been arranged from time to time during the week as well.
All the operations of the Museun were affected severely by the covid epidemic, especially in the initial period. This
resulted in only limited access to the sit¢ for volunteers, rediiced restoration work and initially complete closure
followed by a much more limited progryanune of opening to the public. Significant alterations to our facilities wer¢
required as w¢ll.
The impact of covid was still f¢lt in the 2023 season but it was possible to hav¢ a longer period of public opening than in
th¢ previous year, beginning to approach the Thorn￿1 practice pre pandemic and to increase site access for volunteers and
conlraclors so that work on the museum collection and site could be taken forward more readily. A considerable
programme of work to improve the infrastructure of the site to align with new requirements took place during the y¢ar.
This included investment in visitor facilities, el￿trICity and water infrastructur¢, th¢ cornmissioning of additional
lavatories, the improvement of some buildings and upgrades to paths and the entran¢¢ to th¢ site. The improvements to
the visitor ¢¢ntre and refurbish¢d café, now decorat¢d with striking fairground art, wcre ￿llY utilised during th¢ y¢ar and
appreciat¢d by visitors.
The number of restored working fairground rides in operation increased compared to the previous year and work
continued on some of the larger rides requiring restoration, including the Big Wheel and the RazzLe-Dazzle. Extensive
restoration work on the gallopers continued and painstaking repair and restoration of the old signal box from Liphook
neared completion. Th¢ quarry railway and much improved miniatur¢ railway were also in operation throughout the
year as was the bioscope. with visitors appreciating the n¢w building.
As in the previous year, we w¢r¢ able to take th¢ opportunity to invest mor¢ than usually possible in neccssary
conservation and maintenance work, made easier by the slightly shorter opening season and lack of public access to the
collection for a longer period than usual. We were also able to complete the upgrade of several elements of critical
infrastructur¢, including the main power supply into the site, which had insufficient capacity to meet our growing needs.
W¢ undertook a revi¢w of electricity and other energy consumption on the site. This led to an extensive programme of
action to conserve ¢n¢rgy wherever possible. Ine￿I¢lent b¢aters were replaced, hours of h¢ating in building5 kept to th¢
minimum period required, low level heating operated in th¢ paint shop, which is heavily used, older bulbs replaced with
LEDS wherever practical and cost-effective, and various improvements mad¢ in the kitchen. This led to a significant
reduction in electricity consumption and costs, also ¢ontribiiting significantly to the longer-term resilience and viability
of th¢ museum. We continued to impl¢ment a programme of measures to improve storage conditions for equipment in
th¢ museum, including increased ¢ov¢r and bringing n]or¢ of the collection inside or under more robust temporary cover
during the wint¢r. With relativ¢ly few contemporary storage buildings on th¢ site this remains one of our longstanding
challenges.
Trustees met regularly and planned the programme for the year and the next steps in maintaining the collection,
strengthening our resilience and adapting to rapidly changing circumstances. We aim to continue to incr¢as¢ the
longer-t¢rni strength of the Collection and the cbarity that is responsible for it and respond to the ever evolving needs and
interests of visitors.
Page 2

HOLLYCOMBE WORKING STEAM MUSEUM (REGISTERED NUMBER: 03099322)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 29 February 2024
OBJECTIVES AND ACTIVITIES
Public benefit
Th¢ Trust¢¢s of Hollycomb¢ Working St¢am Museum review the aims, objectives and activities of the charity every
year. The revicw proc¢ss looks at what has been achievcd and th¢ outcomes of their work over thc previous 12 months.
The review considers the success of our key activities and the benefits thcy have brought to people which the Ch￿lty was
fonncd to help. Thc r¢vi¢w also helps the Trustees to ensure that th¢ aims, objectives and activities of the charity r¢main
focused on the stated purposes. The Trustees bave referred to guidance contained in thc Charity Commission's general
guidance on public benefit when reviewing the aims and objectives, and in planning futuro activitics. In particular, the
Trustees have considered how planned activities will contribute to the ain￿ and objectives they have set.
Page 3

HOLLYCOMBE WORKING STEAM MUSEUM (REGISTERED NUMBER: 03099322)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 29 February 2024
OBJECTIVES AND ACTIVITIES
Volunteers
Manag¢m¢nt of th¢ coll¢ction is overseen by the museum manager with tremendous support from the voluntc¢rs as well
as Trusl¢¢s. W¢ are lucky to have a wealth of skilled voluntecrs who provide support with the maint¢nance and
opcration of th¢ ¢oll¢ction and undertake nwiy projects entirely thcTh¢lv¢s without the need to bring in ¢xternal
professionals. In addition to the satisfaction that this brings volunt¢ers it has allowed us to colltinu¢ to keep stsffing costs
to a n]inIM￿ which has been ¢ss¢ntial giv¢n limitations on our income.
Voluntccrs provid¢ n¢arly all thc staffing ¢fforts r¢quir¢d to open the collection and rlm cxhibits as a working stea
mus¢um. They also are the backbone of many restoration and maintenance projects and w¢ have been able to improve
our workshop facilities and equipment to increase our capacity to utilise the many skills that they bring. They also
contributed significantly to infrastructure projects over the year, including for examplc the renovated and improved
engine shed on the quany railway. We continued to tackle a larger proportion of skilled catpcntry work with volunteers
rather than contractors as prime movers. In-house carpentry has become a volunteer focus.
Volunteers also play a major role in managing the grounds, sta￿l￿g the entrance gate, managing th¢ car park and v¢hicl¢
movements and many oth¢r tasks ccnlral to running a working museum on a rural sitc. The Health and Safcty of all
voluntecrs is a rn2jor concern and appropriate training and supervision are central to our good record in this area. We
conllnue to invest in new equipment and to look for ways to improv¢ PTo¢¢dures and to address any activities of
potentially more hazardous nature, for example the erection and dismantlement of fairground rides
Community outreach effoits have seen volunteering ¢ncompas8 Duke of Edinburgh students undertaking Bronze and
Silver level awards with gr¢at success. Local colleges and universities have used the site for specialis¢d student training
both boosting our winter incom¢ and supporting our educational aims.
ir corps of regular volunteers now numbers about 60 and our goal continues to be to increase the number and diversity
of volunteers and to find n¢w ways of developing and passing on key skills and invaluable knowl¢dg¢ in all areas of
activity from engineering work to decorative sign writing alld the very specialist restoration and car¢ of mechanical
fairground organs.
Health and safety
Safety conlinu¢s to be a primary concern and procedures are in place to avert accidents aiid to respoiid to them shoiild
they occur. Management of the site and the collection and the movement of visitors through the different buildings was
changed significantly with th¢ special covid regime introduced during lockdown. This has yi¢ld¢d long¢r t¢nD b¢nefits
in tern)s of health and safety, including an ¢nhan¢¢d awar¢n¢ss of kcy issues and improved facilities. Some elements of
the regime at the h¢ight of covid havc bcen replaced now that Tnore nornial conditions havc r¢ttlln¢d and government
guidanc¢ changed. Our own practices have evolved as well. However, many lessons have been learned and practices
r¢tain¢d. Limitations on numbers of volunteers on site and in particular indoors in buildings for example have been
maintained. along with monitoring of staff and volunteer health and welfare. The new hand washing and lavatory
facilitics continuc to bo invaluable for visitors and staff.
Training of volulltocrs in safety procedures receives particular attention both in conservation and morc routinc
maintenance activities. which may involv¢ th¢ usc of heavy machin¢ry. It is key to operational roles. especially on the
fairground 2nd the Tailways. We are progressively adapting our working methods and upgrading equipment to improve
safety, particularly on the fairground where large rides need to be assembled and taken down every season and some
working from heights is unavoidable. Th¢ r¢lativ¢ly n¢w t¢l¢handler, purchased with the help of grant aid, is particularly
valuable in this respect.
Health and safety continued
Page 4

HOLLYCOMBE WORKING STEAM MUSEUM (RECISTERED NUMBER: 03099322)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 29 February 2024
OBJECTIVES AND ACTIVITIES
Following a review of potential health and safety issues for volunteers and contractors working at the museum the issue
of lon¢ working was id¢ntifi¢d as a pot¢ntial saf¢ty conc¢rn. In r¢sponse a Lone Working Policy was d¢v¢lop¢d, tabled
at a Trustees meeting and subsequently signed off.
The safety of visitors is a very high priority and a programme of improvem¢nts includes both physical barriers and other
installations, such as the doors on th¢ quarry railway coaches and also the use of safety conscious procedures, such as
the ways that visitors are guided in moiinting and dismounting from fairground rides. Attending rapidly to any mishaps is
essential aiid volunteers are given guidance and training over the steps that they will need to take if this occurs.
Pag¢ 5

HOLLYCOMBE WORKING STEAM MUSEUM (REGISTERED NUMBER: 03099322)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 29 February 2024
ACHIEVEMENT AND PERFORMANCE
Charltable activltles
Welcoming visitors
We were able to open to the public for a longer season than in 2022, after a slightly later start and attracted around
15,000 visitors. moving closer to th¢ niimbcrs in the years prior to covid. Th¢rc was a programme of special events,
including the steam rally in June and the Fairground wcckcnd in early September. We ran a programme of evening
openings in the last few weeks of the season. "Fairground at night". which was very well attended.
The new entrance system and pay-booths allowcd us to improve the system of welcoming visitors at the entrance and to
operate a system of pr¢-booking in advance which was utilised by a large segment of our visitors. Facilities for visitors
clscwhere on the slte were improved, including acccss paths and signage. The programme of work on the cafe and main
visitor building was ¢omplctcd.
The community of new and rcgular visitors continued to provid¢ us with g¢ncrally good feedback and understanding of
thc constraints that we woi-k undor. There continues to be raiher morc opportunity than usual to see restoration proj¢¢ts
in progr¢ss and this creatsd ¢onsid¢rable interest and lots of qu¢stions.
Cons¢rvation and maintenanc¢ work
Several long-temi restoration proj¢cts were taken fonvard as w¢ll as more immediate Maintenance and day to day
improvement of the fairground and railway equipm¢nt in most regular use by the public. These wer¢ accompanied by the
continuing infrastructure improvement programme, including extensive re-wiring of th¢ sit¢. Notable projects included..
-significant repairs to our venerable ghost house, the "haunted ¢ottage" built by Orton and Spooner in 1915. w]Jich had
repairs to its vibrating floor as wcll as extensive paintwork.
-a compreliensive Testoration project transforming our very attractive Gavioli barrel organ undertaken by a dedi¢at¢d
volunt¢¢r offsite in his own workshop.
-some of the final stages of our long-tenn project to restore the 98 key Mar¢nghi organ to its fornier glory.
ontinued rcstoration work on the Big Wheel, including both mechanical parts and the wooden passenger cars which are
being thoroughly overhauled and partially rebuilt in some cases.
-further r¢pair, restoration and extensive new paintwork benefitting other fairground rides, including the steps of the
gallop¢rs.
-near finalisation of restoration of the ex-Liphook signal box, including a set of new period entrance steps.
-continued restoration of oui. two-foot gaiig¢ Barclay locomotive. "Caledonia completing boiler work on sitc and
extensive work on the motioii aiid parts of the frame. Thc aim is to return her to service in 2025.
-further improvetnents to the popular miniature railway, including the engine shcd and ancillary buildings. There was
ongoing manag¢mcnt of lineside tre¢s and replanting of shrubs and trees.
-thc ongoing restoration of Leiston Town" with fiuther work on the boiler. ¢ylind¢r block and other parts. Compl¢ting
the restoration, including the paintinE phase, will require additional fvnds.
-painting and restoring several of the piec¢s of antiqu¢ and mostly shaft driven agricultural machinery on display at our
r¢vamped "steam fam] and improvemcnt of ancillary displays in adjacent parts of the main building.
-completion of th¢ construction of a permanent ioof adjacent to the beam ¢ngin¢ to cover the waterwheel a5 well and
protect it from the ¢lem¢nts.
Page 6

HOLLYCOMBE WORKING STEAM MUSEUM (REGISTERED NUMBER: 03099322)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 29 February 2024
-extensive work on the quarry railway track, re-laying sections of lin¢* greatly improving th¢ ballast on key sections of
the route, improving associated drainage, replacing older and damaged sleepers and also trimming back trees along the
track where this was required.
W¢ were able to augment the collection with a 1912 Marshall self-feeding Threshing Box in exc¢llent condition. This
was one of the key items of agricul￿ra1 machin¢ry driven by steam prior to the introduction of the combine harvester. It
was donated to the museum by the Hampshire Culture Twst to which we are grateful.
Fundraising aetivities and Grants recelved
In¢om¢ from visitors was the largest source of f￿dS during the year and is on a pathway to recovery to earlier levels
post ¢ovid. With more visitors over a longer season this reached £220,997, n¢arly double the total in 202J2023 which
amounted to around £143,000. This was supplemented by income and work in kind from other sources, including the
occasional use of the site and facilities by special groups and companies providin8 training.
The volunteer fL￿draIsing team led by Rob Gambrill coiitinued to b¢ active and we were grateful to r¢c¢ive donations of
£23,180 during the year, including contributions from Certain Trustees towards the cost of acquiring some original
wooden caiwings which had be¢n part of our set of gallopers in an earlicr pcriod, A number of potential grant
possibilities werc explored but ther¢ was no new income in this category during the y¢ar. We benefited from a
government relief scheme for Museum electricity costs.
During the open season the charity raised £ 41,818 in gift aid, a significant advance on the pr¢vious year when it was
£16,268), the increase being accounted for by the longer p¢riod of opening and increased visitor numbers.
FINANCIAL REVIEW
Principal funding sources
Generally, the charity needs to raise sufficient funds from admission to the public, through the gate, associated gift aid,
school visits and other events to meet most of the costs of operating and maintaining th¢ collection. However, it is also
ess¢nlial to rais¢ furth¢r funds for laTgcr r¢storation and improvement projects, better buildings and infrastructure and
occasional acquisitions.
During the pandemic years when visitors were present in small numbers or absent entirely, their contribution to the
museum's ￿ndS shrank dramatically and we became very dep¢nd¢nt on grant aid for survival. Support from the HLF was
particularly critical in allowing us to adapt the site for new conditions as well as to m¢¢t ongoing costs during a period of
intense financial pressure. In 2023124, the days we could open and the number of visitors increased substantially and
revenue from this source was the prime fonn of income once again, with valuable additional donations but an end to the
series of grants asso¢iat¢d with support during the pandemic. Special events in the summ¢r and authmn to supplement
daily opening increased income from visitors.
We were gratethl to have a number of donations, including valued small sums from supporteTS.
We were also grateful for generous support from Octavius, a company which undcrtook work at th¢ museum site without
charge over a large part of the year as parl of its charitable Contribution. Amongst other things staff of the company
planned and built a compact, good quality children's playground next to the café which was comrnissioned in the 2024
season
For all of these contributions T￿SteeS express their thanks.
Reserves pollcy
Th¢ Trust¢¢s hav¢ consid¢red the charity's r¢quirem¢nts for reserves in light of the main risks to th¢ organisation.
The charity has established a policy whereby the unrestricted ￿ndS not conllnitted or invested in tangible fixed assets
held by the charity should be at around £75,000. This will cover minimum fixed overheads for a six month period
including payroll, rent, utility and insurances.
Page 7

HOLLYCOMBE WORKING STEAM MUSEUM OiEGISTERED NUMBER: 03099322)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 29 February 2024
PLANS FOR FUTURE PERIODS
The charity plans to continu¢ the activities outlined above in th¢ forthcoming years subj¢ct lo continuing ￿ndIng
atrangements and the continucd support of volunteers.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governlng document
Th¢ charity is controlled by its governing do¢umenL a de¢d of tn￿t, and constitut¢s a limited company* limited by
8uarant¢e, as defined by the Companies Act 2006.
The organisation is a charitable company limited by guarantee, incorporated on 7 September 1995 and registered as a
charity on 7 April 1997. The company was established und¢r a Memorandum of Association which established the
objects and powers of the charitable company and is governed under its Articles of Association. In the event of the
company being wound up members are required to contribute an amount not exceeding £1 O.
Recruitment and appolntment of new trustees
The existing tn￿teeS are actively considering ih¢ r¢¢ruitm¢nt of new trnstees who have exp¢ri¢n¢e in the operation of
other charitable organisations or museums and businesses r¢lat¢d to our engineering heritage and the application of
steam or who have specific skills in other relevant areas. Initial Contacts with potentially interested and qualified
Candidates have been made.
Organisational structure
The charity is organised so that the trustees meet regularly to manage its affairs, A management conJnittee meets
between trustees, meetings to address operatiottal issues.
Induction and tralnlng of new trustees
New t￿SteeS are provided with inforn]ation on the charity covering the governing document and explanations of the
charitable objectives.
REFERENCE AND ADMINISTRATIVE DETAILS
RegRStered Company number
03099322 (England and Wales)
Registered Charity number
1061693
Registered office
Newtown House
38 Newtown Road
Liphook
Hampshire
GU30 7DX
Trustee$
P W Corb¢tt Solicitor
Sir Jatnes Scott Farmer
D M Baldock Environmental manag¢r
J D Le1￿-pe￿bertOll Estate nlanager
B M Gooding Editor
R J S Gambrill Tn￿t manager
A P R Howes (appoillted 22.4.24)
Page 8

HOLLYCOMBE WORIaNG STEAM MUSEIFM
IiEPORT OF THETRUSTEF
FOR THE YEAR ENDED 19 Febnwy 2024
Thi$tee8
P W Cotbgtt Sollcltor
Sirl￿t8 S¢ott F&Ymtr
D M Baldock EThvlroum¢ntsl moooger
J D Lei8h-P¢mberton F4tst¢ nwaBer
B M Goodin8 Editor
R J S G8mbrill TTh4t raattsg¢r
A P RHowes (appoltstod 22,4.24)
Independent Exanthier
N Robert8 FCCA
TraviK & Ce Ltd
Charte￿d Certified Ac¢ountants
NeM¢owfj Hou5
38 N¢wtowll Rèad
HampshiTO
GU30 7DX
?_a,, I JL(.
Approved by order orth# board of on..,..............,.......,................... Jlld si8u¢d ouits b¢]J￿£ by:
. Tru6t¢e

tNDEPENDENT EXAL￿ER's REPORT TO THE TRUSTEES OF
HOLLYCOMBE WOIIKING STEAM MUSEUM
llldependent examlner's report to the truste￿ of Hollyeombe Working Stsam Museum ('the Company,)
I report to the Charity tn]St￿ on my vLgmin&tion of the accounts of the Company foT the year ended 29 February 2024.
Re8ponslbllllles and basis of report
As the ¢Eutriiy's trustees of the Company (and also its director& for the pury>oses of Company law) you are responsible for the
preparation of the accounts in ac¢oTdance with the requtrements of the Companies Act 2006 Cthe 2006 Act,).
Ilavin8 satisfied myself t]￿ the accounls ol the Company aTe t￿t required to be audited under Part 16 of the 2006 Act and
aro elig￿1¢ for independent examination, I report iti respect of my examination of your tharitys accounts as caTTied out
undLY.8ection 145 of the Chariti&8 Act 20 I I Cthe 2011 Act). In out my &xamination I have follO￿d th¢ Dire#ious
given by the Charity Commission under SBCtion 145(5) (b) of the 2011 ACL
Indepcnd¢nt examEner's statement
Since your chRritys Eross income exceeded £250.000 your ex￿iner must be a member of a listed body. I can confinn that I
attl qualified to undert8ke the examination becawe l am a member of th¢ A8soGiation of Chartered Certifi¢d Aocoulllants,
which is one of the listed bodies.
I have completed rny examtnation. I confirm that no matters have come to my attention in wnll¢rtion WAth the exan]It￿￿Oll
giving me Cause to beli¢v¢:
accounting records were not kept in respect of the Con4)any ag r&wired by Section 386 of th¢ 2006 Act. or
the a¢¢ount8 do not ac¢ord with those records; or
the accounts do not comply with th¢ accounting requirements of Section 396 of th¢ 2006 Act other than any
requirement that the accounts give a true and fair view which is not a llMtt¢r Considered as part of an independent
exaD)illation; or
th¢ accounts have not been p￿pared in a￿ordaThce with the methods and principles of the Statsment of
R¢wn)mended Pra¢ti¢e for accountmg and reporting by charities (applicable to charities preparing their accounts in
a¢coTdancc Mth the Fi[W￿la1 Reporting StaDdard applicable in the UK and Republic of tr¢land {FRS 102)).
I have llo Concerns and have wme across no other rnatte￿ in cornection with the examination to which attention should be
drawn in this report in order to enable a proper ullderstanding of the accounts to be reache
N Roberts FCCA
The Association of Charteted Certified Acco)mtants
Travi&8 & Co Ltd
Chartered Qrtified Accountants
Newtown Jlouse
38 Newtown Road
Liphook
HampshiIe
(rU30 7DX
20 November 2024
Page 10

HOLLYCOMBE WORKING STEAM MUSEUM
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 29 February 2024
2024
Total
funds
2023
Total
funds
Unrestricted
fi￿d
Restricted
funds
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
285,994
285,995
336.925
Charitable aetivities
Maintenance of collection
27,066
27,066
27,183
Other trading activities
lllvestment income
Other income
3,240
iio
38,621
244
244
Total
313,304
313.305
406,079
EXPEIYDrruRE ON
Charitable activities
Maintenance of collection
272,559
435
272,994
400,360
Other
2,471
42,008
44,479
45,431
Total
275,030
42,443
317,473
445,791
NET INCOMEI(EXPENDITURE)
Transfers behveen funds
38,274
(12,101)
(42,442)
12,101
(4,168)
(39,712)
13
Net movement An funds
26,173
(30,341)
(4,168)
(39,712)
RECONCILIATION OF FUNDS
Total fi￿dS brought fonvard
199,199
2,688,568
2,887,767
2,927,479
TOTAL FUNDS CAIIRIED FORWARD
225J72
2,658,227
2,883,599
2.887,767
The notes forni part of these financial statements
Pag¢ll

HOLLYCOMBE WORKING STEAM MUSEUM {REGISTERED NUMBER: 03099322)
BALANCE SHEET
29 February 2024
2024
Total
funds
2023
Total
nds
Unrestricted
fund
Restricted
nds
Notes
FIXED ASSETS
Tangible assets
Inveslmcnts
227,462
2,523.600
2,751,062
2,857.717
227,463
2523.600
2.751,063
2,857,718
CURRENf ASSETS
Debtors
Cash at bank and in hand
10
78,161
3,518
16,453
141,924
94.614
145,442
60,467
115.036
81,679
158,377
240,056
175,503
CREDITORS
AnLounÉs falling duc within one year
li
(83,770)
(11,250)
{95,020)
(121,704)
NET CURRENT ASSETS
(2,091)
147,127
145,036
53,799
TOTAL ASSETS LESS CURRENT
LIABILITIES
225,372
2,670,727
2,896,099
2,911,517
CREDITORS
Amounts falling due after more than one year
12
(12,500)
(12,500)
(23,750)
NET ASSETS
225,372
2,658,227
2,883599
2,887,767
FUNDS
Unrestricted funds
Restricted fimds
13
225,372
2,658,227
199,199
2,688,568
TOTAL FUNDS
2,883,599
2,887,767
The charitabl¢ company is entitled to ex¢mption from audit under Section 477 of th¢ Companics Act 2006 for the year
ended 29 February 2024.
Th¢ members have not requir¢d tho. company to obtain an audit of its financial statcments for the year ended
29 February 2024 in accordance with Section 476 of the Companies Act 2006.
The trnstecs acknowledge their responsibiliti¢s for
{a)
ensuring that the charitsblc company keeps accounting r¢cords that comply with Sections 386 and 387 of th¢
Companics Act 2006 and
preparing financial statcm¢nts which give a true and fair view of the statc of affairs of the charitable company as
at the end of each financial year and of its surplus or deficit for each financial y¢ar in accordance with the
requirements of Sections 394 and 395 and which otherwise comply with th¢ requir¢m¢nts of the Companies Act
2006 ￿lating to financial statements, so far as applicabl¢ to th¢ charitabE¢ company.
(b)
The notes forni part of these financial statements
Page 12
continued...

HOLLYCOMBE WORKING STEAM MUSEiIM
BALANCE SHEFT..•eOII
29 Febru￿2024
Tbe tsuste¢s ackaowl¢dÈ¢tb¢irrespoDslbilitl¢s for
(o)
¢nsurin8 that tbe Gknitoble ¢omp8ny keeps ttcrDutttin8 r¢¢oxds th81 ¢omply with Se¢tlons 386 8nd 387 of th¢
Companies A¢t2fKIfj ¥And
(b) pyeparillg fiDanclal' st8t¢nwnls whi¢h give a alld fatr vlew of the 8tste of Affairs 0£ the eharitsbl¢ •y 4$ at
tho ettd of ¢a¢k yeat and of its SUEplus or dcfieit for ¢a¢h finan¢i&l y¢Arlo ae¢ord8nce the req￿1r￿Me#ts
ofse¢tiotyy 394 395 ￿d.WhIch othetwts¢ k*mply with thtr xequlr0n￿ts of the CothpJni¢8 Act 2006 r¢latti)g to
rEowioI ststalleuts, strf•ras•ppli¢able.to.tho ch3ritsble compajy.
These f￿811¢101 statements have ￿ell prepared in a¢cotdatt¢e with tho P¥DViSiQDS appli¢rybl¢ to ¢h4rit8bl¢ ¢ompani¢s subJ¢ct
th&sDwII ¢ompani¢$ rv8imo.
The fiD3naial statements were yved.by the Board 0fTNSt￿ w)"d authoris¢d for issu¢ on ....,....
and wexg St￿¢d onlts bebalf by.
sie¢
Th6 notes fornipjrtof fjxats¢lal 6f¥t¢mvnts

HOLLYCOMBE WORKING STEAM MUSEUM
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 February 2024
ACCOUNTING POLICIES
Basis of preparing the fillancial statements
The financial statements of the charitable company, which is a public benefit ¢ntlty under FRS 102, have been
prepared in accordance with the Charities SORTr (FRS 102) 'Accounting and Reporting by Charities: Stat¢m¢nt
of Recommended Practice applicable to charities pr¢paring their accounts in a¢cordance with the Financial
Reporting Standard applicabl¢ in lh¢ UK and Republic of Ireland (FRS 102) (effectiv¢ l January 2019),,
Financial Reporting Standard 102 The Financial R¢porting Standard applicable in the UK and Republi¢ of
Ireland, and th¢ 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.
Preparation of consolidated finAncial statements
The financial statements contain inforniation about Hollycombe Working Steam Museum as an individual
company and do not contain consolidated financial information as the parent of a group. The Charity is exempt
under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial
slatem¢nts.
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 arnount can be tneasured reliably.
Any receiv¢d in the year that r¢lat¢ to a period aft¢r th¢ y¢ar ¢nd ar¢ treated as defetted income at the year
end.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation ¢on)mitting the
charity to that Cxpenditure, it is probable that a transfer of economic bcnefits will be r¢quir¢d in s¢ttlement and
th¢ amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has
b¢¢n classified under headings that aggregat¢ 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 tlie use of
resources.
Depreciation
Depreciation is provided at the following annual rat¢s in order to write off ¢ach asset over its estimated useful
lif¢.
Buildings & improv¢ments
Plant and equipment
Steam collection
Fixtures & Fittings
IOO/D on Cosl, 50/0 on cost and not provided
IOO/D on cost
not provided
150/0 on reducing balance
No provision for depreciation has been mad¢ in r¢gards to th¢ steam collection or the buildings as in the trustees
opinion th¢ value has not depreciated in the period from acquisition. The value of the collection will be reviewed
in each accounting period but th¢ cost of repairs and maint¢nan¢¢ to b¢ ¢harg¢d against income is expected to
cov¢r any r¢duction in value.
Taxation
No provision for taxation has been made as the coinpany is a registered charity and is therefore exempt from
taxation,
Fund accounting
Unrestricted ￿llds can be iised 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 chaTity. Restrictions
aris¢ wh¢n sp¢cified by the donor or when ￿llds are raised for particular r¢strict¢d purpos¢s.
Page 14
continued...

HOLLYCOMBE WORKING STEAM MUSEUM
NOTES TO THE FINANCIAL STATEMENTS - Continued
FOR THE YEAR ENDED 29 February 2024
ACCOUNTING POLICIES - continued
Fund accounting
Further explanation of the nature and purpose of each fund is included in the notes to the financial ststements.
Hire purchase and leasing commitments
Rentals paid under op¢rating leases are charged to thc Statement of Financihl Activities on a straight line basis
over the period of the lease.
Going concern
The Trustees assess whethcr the use of going concern is appropriate, i.e. whether there are any material
uncertainties related to events or conditions that may cast signiflcant doubt on tlie ability of the company to
continuc as a going concem. The Trustees make this assessment in respect of a period of at least one year from
the date of authorisation for i8sue of the financial statements and have concluded that The Hollycombe Working
Steam Museum has adequate resourc¢s to continue in operational ¢xistence for the foTesccable future and there
ar¢ no material uncertainties about the Charity's ability to continue as a going concern. thus they continue to
adopt the going concern basi5 of accounting in preparing the financial stat¢in¢llts.
OTHER TRADING ACTIVITIES
2024
2023
Covenanted proflts fronL trading subsidiary
3,240
INVESTMENT INCOME
2024
2023
Deposit account interest
244
iio
NET LYCOMEI{EXPENDITURE)
Net income/{expenditur¢) is stated after chargingl(crediting).'
2024
2023
Depreciation - owned assets
Rent of land
44,480
22,414
45,168
20,621
TRUSTEES, REMUNERATION AND BENEFITS
There were no trnstees, remuneration or other benefits for the year ended 29 F¢bruary 2024 nor for the year
cnded 28 February 2023.
Trustees, expenses
There w¢r¢ no trustees, expenses paid for the year ¢nded 29 February 2024 nor for the year ended
28 Febnwy 2023.
Page 15
continued...

HOLLYCOMBE WORKING STEAM MUSEUM
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 February 2024
STAFF COSTS
The average monthly number of employees during the year was as follows:
2024
2023
Museum staff
No employees received emoluments ID excess of £60,000.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestrictod
fund
Restricted
filljds
Total
nds
INCOME AND ENDOMqIIENTS FROM
Donations and legacies
228,297
108,628
336,925
Charltable activities
Maintenance of collection
27,183
27,183
Other trdding activities
Inv¢stm¢nt income
Other income
3,240
iio
38,621
3,240
iio
38,621
Total
297.451
108,628
406,079
EXPEIIDITURE ON
Chgritable activities
Maintenance of collection
297,341
103.019
400.360
Other
2,004
43,427
45,431
Total
299,345
146.446
445.791
NET INCOMEI(EXPENDITURE)
Transfers between funds
(1,894)
(15.203)
(37,818)
15,203
(39,712)
Net movement in funds
(17,097)
(22,615)
(39,712)
RECONCILIATION OF FUNDS
Total funds biought forward
216,295
2,711,184
2,927,479
TOTAL FUNDS CARRIED FORWARD
199,198
2,688,569
2,887.767
Page 16
continued...

HOLLYCOMBE WORKING STEAM MUSEUM
NOTES TO THE FINANCIAL STATEMEiYfs - Continued
FOR THE YEAR ENDED 29 February 2024
TANGIBLE FIXED ASSETS
Buildings
Planl and
& improvements equipment
Steam
collection
COST
At l March 2023
Additions
Disposals
1,720,577
65,098
4,825
1,148,185
3,000
(70,000)
At 29 F¢bruary 2024
1,720,577
69,923
1,081,185
DEPRECIATION
At l March 2023
Charge for year
74,754
35,746
14,167
6,993
27988
252
At 29 FebrLWy 2024
110,500
21,160
28,240
NET BOOK VALUE
At 29 February 2024
1,610,077
48,763
1,052,945
At 28 FebrLWy 2023
1,645,823
50,931
1,120,197
Fixttw¢s
& Fittings
Motor
vehicles
Historical
attractions
Totals
COST
At l March 2023
Additions
Disposals
59,571
4,050
31,250
3,028,731
7,825
(70,000)
At 29 F¢bruary 2024
59,571
4,050
31,250
2,966,556
DEPRECIATION
At l March 2023
Charge for year
48,280
1,489
4,050
1,775
171,014
44,480
At 29 February 2024
49,769
4,050
1,775
215,494
NET BOOK VALUE
At 29 February 2024
9,802
29,475
2,751,062
At 28 February 2023
11,291
29.475
2,857,717
Page 17
continued...

HOLLYCOMBE WORKING STEAM MUSEUM
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 February 2024
FIXED ASSET INVESTMENTS
Shar¢s in
group
undertakings
MARKET VALUE
At l March 2023 and 29 February 2024
NET BOOK VALUE
At 29 Februaiy 2024
At 28 February 2023
There were no inv¢stm¢nt assets oulsid¢ th¢ UK.
The ¢ompanYs inv¢stm¢nts at th¢ balance sheet date in the sharc capital of companies include th¢ following..
Hollyeombe Retailing Ltd
Registered office:
Nature of business: Sale of museum merchandise and café
Class of share..
Ordinary
holding
loo
29.2.24
28.2.23
Aggregate capital and reserves
Loss for the year
(22,274)
(22,677)
403
io.
DEBTORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR
2024
2023
Amounts owed by group undertakings
Other debtors
VAT
Prepayments
50,711
26,970
18,898
25.283
764
15,522
16,933
94,614
60,467
Page 18
continued...

HOLLYCOMBE WORKING STEAM MUSEUM
NOTES TO THE FINANCIAL STATEMENTS - contlnued
FOR THE YEAR ENDED 29 February 2024
ii.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Trade creditors
Social s¢curity and other taxes
VAT
Other credÈtors
Accrued expenses
36,840
788
5,599
49,219
2,574
66,276
725
49.870
4,833
95,020
121,704
12.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024
2023
Other cr¢ditors
12,500
23,750
13.
MOVEMENT IN FUNDS
Net
movernent
in fijnds
Transfers
betw¢¢n
funds
At
29.2,24
At 1,3,23
Unrestricted funds
General fund
199,199
38,274
{12,101)
225,372
Restrlcted funds
Restricted
Sawmill projwt
Emperor project
DCMS Grant
New bioscope building
2,081,681
50,289
17,702
525,960
12,936
2,081,681
50,289
17,702
486,497
22,058
(39,463)
(2,979)
12,101
2,688,568
(42,442)
12,101
2,658,227
TOTAL FUNDS
2,887,767
(4,168)
2,883,599
Net mov¢ment in funds, included in the above ate as follows..
Incoming
rcsources
Resources
¢xpcnd¢d
Movement
in funds
Unrestricted fund5
G¢neral fund
313,304
(275,030)
38,274
Restricted fund5
DCMS Grant
New bioscope building
(39,463)
(2,980)
(39,463)
(2,979)
(42,443)
(42,442)
TOTAL FUNDS
313,305
(317,473)
(4,168)
Page 19
continued..-

HOLLYCOMBE WORKING STEAM MUSEUM
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 February 2024
13.
MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
Net
movement
in funds
Transfers
b¢tween
fi￿dS
At
28.2.23
At 1.3.22
Unrestricted funds
G¢n¢ral fund
216,295
(1,893)
(15,203)
199,199
Restrieted funds
Restricted
Sawmill project
Emperor project
HLF Resilience
Mann Tractor Fund
DCMS Grant
Coutts Grant
New bioscope building
Culture R¢cov¢ry Fund for Heritage..
Em¢rgen¢y Resource Support
2,083,213
55,642
34,607
7,906
1,100
565,048
3,315
898
(1,532)
(5,353)
(16,905)
(7,906)
(I,ioo}
(39.088)
(3,315)
(3.143)
2,081,681
50.289
17,702
525,960
15,181
12,936
(40,545)
40,523
22
2,711,184
(37,819)
15,203
2,688,568
TOTAL FUNDS
2,927,479
(39,712)
2,887,767
Comparative net movement in ￿nds, included in the above are as follows,.
Incoming
resources
Resources
expended
Movement
in fimds
Unrestrictsd funds
General ￿nd
297,451
(299,344)
(1,893)
Restricted funds
Restricted
Sawmill project
Emp¢ror project
HLF Resilience
Mann Tractor Fund
DCMS Grant
Coutts Grant
New bioscope building
Cultur¢ Recovery Fund for Heritage:
Emergency Resource Support
(1,532)
(5,353)
(16,906)
(16.033)
(I,ioo)
(39,088)
(3,315)
(3,143)
(1,532)
(5,353)
{16,905)
(7,906)
(I,ioo)
(39,088)
(3,315)
(3,143)
8,127
100,500
(59,977)
40,523
108.628
(146,447)
(37,819)
TOTAL FUNDS
406,079
{445,791)
(39,712)
Page 20
continued...

HOLLYCOMBE WORKING STEAM MUSEUM
NOTES TO THE FINANCIAL STATEMENTS - contlnued
FOR THE YEAR ENDED 29 February 2024
13.
MOVEMENT IN FUNDS - eontlnued
A curr¢nt year 12 months and prior year 12 months combined position is as follows..
Net
movement
in funds
Transfers
bettv¢en
funds
At
29.2.24
At 1.3.22
Unrestricted funds
General fund
216.295
36.381
(27,304)
225.372
Restricted fund5
Restricted
Sawmill project
Emperor project
HLF R¢silience
Mann Tra¢tor Fund
DCMS Grant
Coutts Grant
New bioscope building
Culture Recovery Fund for H¢ritag¢.'
Emergency Resource Support
2,083,213
55,642
34.607
7,906
I,ioo
565.048
3,315
898
(1,532)
(5,353)
(16,905)
(7,906)
(I,ioo)
(78,551)
(3,315)
(6,122)
2,081,681
50289
17,702
486,497
27,282
22,058
(40,545)
40,523
22
2.711,184
(80,261}
27,304
2,658.227
TOTAL FUNDS
2.927,479
(43,880)
2,883.599
A current year 12 months and prior year 12 months combined net movement in fimds, included in the above are
as follows..
Incoming
resources
Resourc¢s
expended
Movem¢nt
in ￿llds
Unrestrieted funds
G¢n¢ral ￿lld
610.755
(574,374)
36,381
Restricted funds
Rcstrictcd
Sawmill project
Emperor project
HLF Resilience
Mann Tractor Fund
DCMS Grant
Coutts Grant
New bioscope building
Culture Recovery Fund for Heritagc..
Emergency Rcsourcc Support
(1,532)
{5,353)
(16,906)
(16,033)
(I,ioo)
(78,551)
(3.315)
(6.123)
(1,532)
(5,353)
(16.905)
(7,906)
(I,ioo)
(78,551)
(3,315)
(6,122)
8.127
100.500
(59,977)
40.523
108,629
(188,890)
(80.2611
TOTAL FUNDS
719,384
{763,264)
(43,880)
Page 21
ontinued...

HOLLYCOMBE WORKING STEAM MUSEUM
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 February 2024
13.
MOVEMENT IN FUNDS - continued
Restricted funds - nature and purpose of the funds as shown above fin the movements:
Restricted Funds
The restricted fi￿d5 represent the buildings and steam collcction all held at the Museum
Sawmill Project
The fimds were received to financ¢ the costs of an ongoing project to recreate a working First World Wat
sawmill using the muscum's Robcy semi portable steam en&Fine and associated macbincs.
Emperor Project
The ￿ndS are held for the repair and restoration of the Emperor engine
HLF Resilience
Funds are received from th¢ Heritage tA)ttery Fund to contribute towards the employment of two full time
employees. The final tranche of £8.126 was received in the year.
DCMS Grant
Grant received from the Departinent for Digital, Culture, Media and Sport to help ￿nd the recovery of the
museum post COVID and to help the museum contlnue An its ongoing efforts to fulfill their charitable objectives.
Coutts Grant
A grant was r¢¢eived from Coutts to ￿nd Ihe completion of the Dutch Bam r¢novations which was vital in
helpiiig us keep volunteers and staff working safely togetlier.
NHMF Lottery Grant
Nattonal Heritage Memorial Flind (generally known as HLF) ￿aTht received to meet unavoidable costs of
heritsge sites that were unable to open.
Culture Recovery Fund For Heritage: Emergency Support
A grant of £100,500 was awarded in two tranches in April and July 2022 based on an application made in
January 2022. £40,545 of the covered expendittwe was incutred prior to 28 February 2022 and the remaining
£59,455 was incurred iti March 2022.
14. RELATED PARTY DISCLOSURES
D M Baldock r¢¢¢ivcd part of the total r¢nt as joint landlord in the y¢ar of £22,414 (2023 £20,620). Th¢
woodland garden is jointly owned by Mr Baldock and his brother to which visitors hav¢ acccss at no cost to tbe
harity.
Page 22