2024-04-30-accounts - Railway Vehicle Preservations Limited

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RAILWAY VEHICLE PRESERVATIONS LTD

Minutes of the Members Meeting held on the 7th December 2024 at the Wheatsheaf Inn, Thurcaston, Leicestershire.

Members present: A.Fillingham (Chair). K. Allen (Secretary). P.Harrison (Director). M.Lang (Director). G.Maslin (Director), T.Thompson, A.Bennett, R.Finnimore, A.Storey, R.Bulmer, D.Pearce, J.Toplis, A.Shopland and R.Drew.

The Chairman welcomed members to this year’s meeting at 12.00 hours.

Apologies received: J.Pearce, A.Wood, R.Tinsley, M.Robinson, D.Eldridge, D.Petterson, L.Field, B.Attwell, E.Lord, D.Thomas, B.Hall and N.Smith.

The meeting unanimously approved the circulated minutes of the last general meeting held on 9[th] December 2023.

The circulated draft accounts were described by the Chairman and copies were provided to the members. The accounts were unanimously accepted by the members.

There were no notified motions to consider.

The Chairman invited comment and questions from the floor. Matters discussed included:

Alan Voase is no longer a director and trustee
TPOs – 2 coaches underway and another to be started in 2025
Generator now in use at Swithland shed
TTO progress – teak panels now being fitted
Major work needed on the TPO ground net equipment at Quorn
Hoping to operate the TPO on the GCR in Autumn 2025
Buffet car – being worked so that it can return to service in 2025
Swithland container and storage options
RVP container at Rothley being in poor condition
Very successful 2024 raffle

The meeting closed at 1.30pm and lunch was then enjoyed by all. The session closed at 3.15pm.

REGISTERED COIIP.4%1' N L'IIBER: 01408829 IEn£l*nd ¥Jnd M xlts) REGISTERED CHARITI NL'IIBER: 1095123 Report of the trustees and Unaudited Financial Statements for the Year Ended 30th April 2024 for Railway Vehicle Presen'8tions Limited

Railwa), Vehicle Pre5ervylions Limiled Contents of the Financial .Sti)tement5 for the Year Ended Joth April 2024 Page ReFK)rt of the Trustees 1103 Statement of Financial Activities Balance Sheet 5t06 Notes lo the Financial Stalemenls 7t0 10 Independent Examination

Railway Vehicle Preservations Limited Report of the Trustees for the Year Ended Joth April 2024 The trustees who arl a150 directors of the charity for Ihc purpo4L.% i)l- th¢ C(ImpdniLs ALI 21111(), prcsent their report iyiih the financial %taiements of ihe chdriiy lor the yL"ar endLd 311th April 21124. '1'hL' tru%loLS have adop¢ed the provisions of Accouniing and Reporling bj, (."hariiics.' Siatcmeni ()l- IleLommLndLd I r<tILl £ippli¢ablc to chariiies preparing their accounts in accordance with the l--inancial Rcporting Standard appli¢ablL in ihi IJK and Republic of Ireland (FRS 1021 lel'lectii'c l January 20151. OWECTIVES AND ACTIVITIES Objectives #nd aims The charity is constituted &s a company limilcd b}, guic rant¢c wilh share capital and is therelorc governed by its memorandum and articlcs of assc)Liatii)n. 'I"his rLquir¢b that the incomc and property of thc compan J shall be solel). restricted toii'ards (he promolion ()I' its nhjLCts. -I"hL charitj's objL"Lt and its principal activity in the year under revieii, continues to bc ihat ol- Ihe restui'alion, main(enan¢c and operation of ils )11Cc110n of vehicles of historic interest. Public benefit The charitN S Irust¢e5 have had regard to the charit ComTlli5sion's guidance on public benefit and they consid¢r thai ihe charity's main activiiies are undertaken for the public ben¢fi¢. ACHIEVEMEYT APYD PERFORMANCE Developmen( Activitie$ 4nd Achievements Useful progress i¥as made during the ) ear 1th progress being tnadc on thc ongoing rcstoration of the Coach 23981 and l-PO Tcnder ¥11438. The oK'erhaul i)I'thc Beavertail No 1719 w'as concluded and thc c(Trach h&8 re-cntered revcnuc-eaming scrvice at Strathspcy Railwa>'. The final fitting out of the s.]th1and Shcd has been finished with both storage roads fully extended to the back of the Shcd and the floor p#rtidlly concreted. Beal'ertail Coach 1729 remains in safe and secur¢ storage. There are currenily no plans for the vchiclt uniil a suitable alternaiibe location can be 5CLurcd lor it. The financial strength of the company remains sound and w¢ look forward to incrcdsing our overdll prow.

RMllThMy V¢lilelL' I'ri'L'rviill(11)li l.Imlled Reporl of tlic. TrustL¢'s for Ihc Ycur Tr.n(IL.d 301h April 2024 IN'.-INCIAL REI'IEW Financial position During the i'¢ar. net Oulgoing re50ufLL% l)n unreslriclcd fiinds allcT transfers am()unled to £9.21212U23 OU(going.' £24.620) and nei ()Ulgoing rcsource% on rcs(rictLd lunds Hmounlcd ti) £15,44312023 outgoing.. £1.7311. The balance on unre8lricted re%¢ri'cs ai ihi }'Cill'.enJ amounicd ii) £129.99112023.. £139,203). The balance on restricled rcscTh'es at the i'ear-¢nd amc)uniL¢J li) 113.711 {2023.. £29,154). Resen'es poliei I"he trustCCS' PK)lic! on re8m'cs is (hat th¢5¢ shall so lar as practic1} b¢ held in interest bearing deFX)Slt accounts. The compan! has no endo%¥ment lunds. The compdny's prdLtiLe 15 lo estimate the amount required for a major pr()jc¢i and ihen raise an appcal for this aTnount. In othcT cases. inLI)mc dctcrmines hat projeetS the company ndcnakes. the direciots d¢l¢rmining whethcr the company can undertakc a particular project in the light of its firtancial wsilion. Fund5 in deficit Thcre were no fvnds in defici¢ at the year-end. FUTIIRE PLANS There are no ignifIAn1 fuiure dcv¢lopmenis exeept a5 mentioned aVe. There hai'e I) no events affecting aciii'ities sinc¢ the lear end. STRIICTLIRE. GOVERNANCE AND MANAGEMENT Go¥eming docL2menl Thc charity. is controlled b). its governing documeni. its Mcmorandum and Articles ol-Association. and con5lltutes a limiied compan)., limit¢d by guarantee. as delin¢d by the Compani¢s Aci 21K)6. OrgJDlStioDl structure The cornpany has no oflice apart from its registered uifiL¢,' its actii'iiies are principall J cled on at Rothl Ststion. Leicest¢rshirc. Th¢r¢ ha5 been no signilicani Lhange in lh¢ companl's aci1¥ itl. and ihe Llir¢ciors d(} noi anticipa any change. Th¢r¢ hav¢ bccn no financiall> signiliLanl ¢N'¢nls Since the end ol thc finanLia] N"ear. Relted parties l-here is no relationship with anj. relaied part) ()r ()ther charily exLept far lh¢ iompan> som¢iimes r¢CeleS granis, nornially for specific projeL'ls, from oiher bodies: the granis rel'eived during th¢ Near are sci oui below. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 01408829 (England and Il'alLsI RegSytered Cbarlty number 1095123 R¢glJter¢d offiee ShLaves Upper Cornsland Br¢nlw(J(Jd l..Jy¢x CM1441111 Trui¢e¢i MLan G E Maslin P Harrison A Voage A P Fillingham Chairnidn

Railwa). Vehiclt Pr¢5¢Th'ations Limited Report of the Trustees for the Y¢#r Ended 30th April 2024 Compny Secret$r)' D C Peiierson REFEREPCE AND ADlINISTILlTIN'E DETAII Bankers CAF Bank Limited 25 Kings Hill Avcnue Kings Hill Wesi Malling Kent ME19 4JQ National Wc5ttnin5ter Bank PIC 250 BiShOgaie l.ondon EC2NI 4AA This reFKin has been preparcd in accordance with thc special provisions of Part 15 of the Companies Ad 2(K)6 relating 10 Small Companies. Approved by order of ihe FK)ard of tnjstecs on 2024 and signcd on its behalf by-. A P Fillingham- Trnstec

Railway Vehicle PrL's¢rvxlioiis Limiled .(iiiil('.mt'nl of li iiiiinliiil ALtiviliLS (Incorpoi'iitiiig iin I iicoiiie Aii(I r.xpLn(lilvrc' Account) foi. the Year Fiiiled 30tlI April 2024 30.4.24 I'ot91 runds Unro5tricled ruiids 31J.4.23 'ri)tal fundi Restricted funds Note INCOME AND ENDOWMENTS FROM txinations and legacies Other trading actii'ities Investments income Sundry income Total 8.248 19,902 677 00 30,127 8.248 19.902 677 00 30,127 7,592 4,482 546 12,620 F.XI)ENDII-IIRE ()NI Chatitgble activities Re8loraiion Other Total 31,0.$4 15,443 46,497 34.347 971 NET INCOMEIEXPENSES (9.212) (15,443) (24,6551 {26J51) Trdnsfer bee¢n funds NET MOVEME,YT IN FUNDS (9212) {15.4431 (24.6551 {26J511 RECONCILIA TION OF FUNDS Toial funds brought foThi'ard CONTINUING OPERATIONS All income and expenditure has arisen from conlinuitig a¢liviti¢s. The noie5 fonn pari of these Ilnanclal stal¢n)¢nls

ei Raih"•i" I'ehicle Presen"xtions Limiied Ba12Dce Sbe¢l for tbe Year EDded 30th .4pril 2024 30.4.24 Totxl fllnd$ 30.4.23 Total funds Lnr¢stricied funds Restricted fund5 Note FIXED ASSETS "l (gible ÉtSSCt5 90J61 90361 .507 CLRRENT ASSETS 13,924 1.713 13,924 .713 14.133 5.652 Debtors Cash at bank 41.215 18,432 84.011 CREDITORS Amounis fdlling due 14'ithin one }'ear ET CbRRENT ASSETS io 485 TOTAL ASSETS LESS cuRRET LIABILITES 14 13 711 ?02 ET ASSETS 143 702 168 357 FUNDS UnrLsiricted fuftds R¢slriLied lunds TOTAL FUliDS 129,991 139.203 168 i51 The no*S fom port of th¢se llnoncial slAlf4nLnls

R*ilwa!' Vehicle Presern'alions Limited Conlinued... Balance She¢l- continued ror the Year Ended 30ih April 2024 The charitsble ¢ompan)' is eniiiled io excmplion from audit under Section 477 of the Companies Act 2006 for the l'ear ended 30th April 2024. The members hai'e not required the charitable compan!. to obiain an audit ofils financial statcmen15 for the year ended 30th April 2024 in accordance ii'iih Sec¢ion 476 (if ihe Compani¢s Aci 2006. The trustees acknoii'ledge their re5p)nsibilitie5 lor la} ensuring ihai thc charilable company keeps accouniing reeords thai compl). with Scctions 386 and 387 of th¢ Compani¢s ALt 20(kn and (bl preparin8 flnancial statemenls which gil'e a truc and fair i"icM' of Ihe slat¢ of affairs of th¢ charitable compan%. a5 at ihc end ol- each linanLial lear and ol. 115 surplus or d¢fitit for each fjnancial )'ear in accordance i%'iih the requircm¢nLs of Sec(ion5 394 395 attd i%'hich Otherlse complv with ihe r¢quirements of the Companies Act 2006 relating finan¢ial ststements. so far as applicahle to the charitsble Li)mF4n). Thcse financial ststements hai'c b¢en prcpared in accordanoe with th¢ ScIal provisions of Part 15 of th¢ Companios Aa 2006 rclating 10 small eharitsble eompanies. The finan¢ial statements M'cre approi'ed bN the Board of Trustees on 2024 and 'tre signed on its by: A P Fillingham - Chairnan P Harrison - Trust¢¢ The not¢s forni w of th¢s¢ Ilnanclal SleMen1

Railway Vehicle Preservations Limited Note5 to the FinanciAI Statements for the Year Enilc(l Jlliii April 21124 ACCOUNTING POLICIF.S Ba515 of preparing ihc fin4nril slatein¢nts The lindnLial SlutLments ol. IhL ehurilablL Lcimpan>'. ,hiLl) is u public bL'nLli¢ L'ntily undLr l.R% I1)2. have bcen pr¢pared in accordance i¥iih thL Chai'ilie% SORI, IrRS 1021 ILll¢Llive l January 211151 and ¢hc Compunies Aci 2006. The finan¢ial stalements have been prepared under thc hislorical cosl convention which h&8 been mixlifi for ihe revaluation ol- cenain as%c(s. The prescntation cUencY in ihc Iinancilll statcmcn15 IS the Pound Sterling 1£). Income All income is reL£)gni%cd in the 8talemen¢ (if Financial Activities once the charity has Cntitlement to the funds. Lt is probable ihat the incoi)ie i111 be rcceiked und thc amount can be measured reliabl J. Expenditure Liabilities are rec()gnised as expcndilure soon as Ihere is a legal or construclive obli8a(ion committing Ihe eharitN 10 thai L.IpendilurL. it 1.% pirobable thal a transfL'r uf eLDnomic benefJt8 will be required in sculement and the amount ol. Ihe obligation can be medsurcd reliably. Expenditure is accounted for on art accruals basis and has bccn cldts.%ilicd under hcadings ihai dg8regat¢ all cost rclatcd to the caiegory. W'here Costs cannot be directl). atrribuied io paniLular hcadings they hav¢ b¢¢n allocat io aciiviiies on a basis consisient '1[h ihc use ol. r¢sources. Tangible fixed assets Depreciation is pr()I'ided at th¢ following annual raS in order to TIl¢ off each asset over iLS ¢Stim&ed usefijl life.. Calage Sh Plani and machinery Rolling stock and museum n() longer depreLiatcd as alue in excess of FxM)k value l OQ/o on 'rillen i'alue not provided- included at direcrS. valuation Stoeks Sts)cks ar¢ valucd at the lower of cosl and net realisable value. after tnaking due allowance for ob501ete and slow moving items. Txatio The charity is excrnpt from corporation ¢&x ()n it5 charitable aitii'ities. Fund •ccounting unrestr1cd fund5 are those which Can be used in a¢¢()rdance wilh lh¢ Lhariidbl¢ objL*tiies ai the dis¥reiion of the (rusl¢cs. They inLlude lunds sp¢¢ifiLally designaied lur the Iuiur¢ repair and of rolling sCk. Restricted lunds are Ih()se which Lan i)nlv bc used lor particular resiriiied purws¢s i%'ithin the objecis ot" the chariiy. Restrictions arise when specili¢d by the donor L)r i%.hcn lunds are r&is¢d lor pICUlar resifiiied purFK)ses. Further explanation of the nature and purpose ol. each fvnd is includ¢d in ihe noies io th¢ lin1 statements.

RuilH'th)' Vehicle I,res¢ri'É1on Liniiled Notes to the Finttniial Stalemtnls for the Year Ended 30th April 2024 OTHER TK4DING AcT1.1T1Es JO.4.234 30.4.23 Salc of materials Raffles Flire income 1,107 6,120 255 4.227 INVESTMENT INCOlE 30.4.24 30.4.23 Inlercst reccived NET INCOME/EXPENSES Net incomel¢xpens¢s is stated after charging.. 30.4.24 30.423 Depre£iation - OTred assets TRUSTEES, REMUNERATION AND BENEFITS There wcre no tn]stccs remun¢ration or other benefiis for the year ended 31hh April 2024 nor for the yedr ended 3(hh April 2023. Trnstees. txpeD5es The charity paid no expcn5es to its trusiees during the year12023.. £87}. Tru$t¢e$' donations Donations were received from trustees during the year amounting to £32512023.. Ihr¢e trustees.. £4801. INVESTMENTS The company owns 4.480 ordinary shares 01. 25p ea¢h in (ircat C¢nlral Railiiay Plc. The dir¢clors LC)nsider that these have no market value and, therefor¢. this invesimeni has b¢en wriltcn down to Enil.