Company Number 3549477
Moseley Railway Trust
(Cornpany Limited by Guarantee)
Registered Clwity No. 1100827
Trustees, Report and Financial Statement&
31 December 2024
Contents
Page
Ileport of the Trustees
Independent Examiner's Report
Profit and Loss Account
Balance Sheet
Statement of Financial ActivitÉes
Detailed Income and Expenditure Account
15

Moseley Railway Trust
Report of the Trustees
The trustees, who are also directors of the charity for the purposes of the Companies Act 2006,
pr¢￿Tht th¢ir report with the financial staicmcnts of the charity for th¢ Gnd¢d
31 st December 2024. The trustees have adopted the provisions of AcLounting and Reporting
by Charities: Statement of Recommended Practice applicable to charities preparing thcir
accounts in accordance with the Financial Reporting Standard applicable in ihe UK and
R¢public of Ir¢lalld (FRS 102) (effective l January 2015).
Structure, Governance and Management
The Company is governed by a Memorandum and Articles of Association. and is a company
limited by guarantee. Its Directorsnrustees are appointed or proposed by existing directors,
then confirnjed by election at the next Annual General Meeting for aE.mi of three years. They
retire in rotation.
The Trustees who held office during the year and at th¢ date of signing this report were as
rollows...,
Adam Forgham Ferrington
Richard David Grey (Deputy Chainnan)
Simon Robert Lomax (Joint Chainnan)
Philip Charles Robinson (Resi￿]ed 23rd March 2024)
John Arthur SelN*yn Rowlands (Joint Chairman)
Michael David Salt
Jonathan Paul Sharnian (Appointed 23rd March 2024)
The trustees have given guarantees on the saEne basis as all other members of the company.
Th¢ trustees have no other fLnancial interest in the company.
The company is a member of the Heritage Railway Association, and as a railway-related
organisation it places great emphasis on safety. All its trustee5 are signatories to its Safety
Management System. Moseley Railway Tr￿st works closely with the Apedale Heritage Centre
(Registered Charity No 1072104) to dcvclop the Apedale site and the County Park within
which they are both located. To this end a jointly owned cOMp￿]y, Bugswortli Navigation
Ltd., was set up to acquire land to be leased to the two charities. There is also consultation and
collaboration with Staffordshire County Council regarding the Apedale Counlry Park.
The company has a wholty owned subsidiary company, Apedale Valley Light Railway Ltd.
This company carries on commercial activities such as special cvents and sales of souvenirs
and donates its profits to its parent. Its figur¢5 are consolftdated within these accounts.

Moseley Railway Trust
Report of the Trustees (continued)
After safety, the trustees consider the main risks currently to be availability of funding for
oApital projects, and logs of co-op¢ration by L(yral Authoriii¢s in granting leases f.or railway
construction. In respect of tiie fornier new projects are assessed for eligibility for grant
funding.. and work does not commence until a funding source has been secured. In many cases
this require5 the membeiship to make good any shortfall of external funding. As regards the
Local Authorities, goodwill exists, but it is necessary to be patient and not carry out work nor
risk costs where there is a perceived risk that the administrative or legal processes cannot be
ompleted.
Principal activities
'rhe principal activity of the company is education of the public tlirough the maintaining and
running of a narrow-gauge rnilway (the Apedale Valley Light Railwq) and museum, on land
at Apedale in North Staffordshire. The cornpany is Registered ChaTity No 1100827. Tt holds a
large ¢oll¢ction of industrial narrow-gaug¢ locomoliv¢s, rolling sto¢k and oth¢r items.
Members of the Trust also give tall(s, publish books, and assist other railways in order to
publi¢is¢ Moseley Railway Trust and further its objectives.
During 2024 significant progress was made on thc Miiseum Building project. Thcrc is now a
cl¢ar rout¢ to completion of the proje¢( with further slgnificant progress expected during 2025.
During the year two locomotives were purchased - O&K .5662 and WOTO - at a cost of £180k.
These purchases were fimd¢d by a combination of donations by trust members and non-
members,
During 2020, the Trust came to a revised agreement with Apedale Heritage Centre over the
ternis of the lease of the station building. The trustees are confident that the extremely
protracted completion of this leage transaction will be completed during 2025.
Operationally, passenger numbers in 2024 were at similar levels to those achieved in 2023.
Passenger trains were run at weekends for the full season from April to Ociober 2024, plus at
Halloween and a full programme of Santa Trains was run on four da}TS prior to Christmas 20?4.
The Income and Expenditure Account surplus for 2024 of £1 1.2k compares to a surplus of
£13.5k in 2023. with 2024 being impacted by higher legal expenses in relation to the AHC
staiion lease. Once adjustment has been made for this particular item. 2024's operational
results were similar to those achieved in 2023.
The coinpany s financial policy is for its Income and Expenditure Account, under nonnal
circumstances, to at least bleak even. This relie5 on fund raising from its membership and from
cxternal funding bodics to supplernent sales of publications, ticket sales for train rides and
open days, and recharging storage costs to member.8 whose locomotives are lioused by

Moseley Railway Trust
Report of the Trustees (continuèd)
the company. Surplus funds are directed into development of the site and railway. As described
prcviously. the rate of Progress of these developments is managed to match the fUL￿ce
available. From time to time, particular artcfacts become available, and the Trust may raise or
designate funds to acquire th¢s¢ if they comply with its Collection Policy. All monies received
for specific pury)oses are credited to scparate accounts until exp¢nd¢d.
The Trust continued to be active during the year in providing its locomotives and rolling stock
to other railways for their galas and other events, thus allowing the Trust, s assets to be enjoyed
by as wide an audience as possible.
This report has been prepared in accordance with the special provisions of Part 15 of the
Companies Act 2006 relating to small companies. In order to comply.with SORP: Accounting
and Reporting by Charities, a Statement of Financial Activ ities has afr30 been included at page
8. A reconciliation of diis ststeinent to the Profit and Loss Account is shown at pa8e l O.
By order of the Board
M Roberts
Secretary
Registered Office:
I l Ashwood Road,
Disley,
Stockpor(
Cheshire,
SK12 2EL

INDF,PF,NDF.NT F.XAMINER'S REPORT TO THE TRUSTEES ()F
MOSELEY RAILWAY TRIIST
LIMITF.I) BY C.UARANTEE
I r¥p()rt iln the a¢Lounts t(TrT the >'e¢lT ¢T)ded 31 DLccmbcr 2024 sel out on paoes SIK to fifteen.
Respective responsibilities of trustees and examiner
The charitN s trustees (who are also the directors tor the purp()se& of company law) are responsible for the preparation of
the aLLLFunts. The ch(Irily's tru51ees ciTrnsideT th(It dn audil 1% nol reqLiired for tl)is y'ear {under Section 144(2) of the
Charities Act ?0 I l (the 201 l Act)) and tliat an independeni examinati()n 1% rcqtiired.
Hdvin&y gdlistied my'self that the L,harity 15 nL)t subjeLt lo audit under coinpany law aiid is eligiible for independent
examination, it is my responsibility t()..
exwnin¢ the accounts under Section 145 of the 201 I ALt
to tollow the procedures laid doMM iii the General Directions gTiven b J. Ihe Charity Commission (under Section
14.5(S)(b) ot"th¢ 201 l Act). wid
to state wheth¢r particular ￿￿tterS have come to my. attentii)n.
Basis of the independent examiner's report
M> ¢Xdmination w&s ca￿1¢d out in accoi-dance with the GinL'fdl DirL'clion9 giveii by rl)¢ Charitv Cummission. An
examiiiation include.s a review nf the a¢caunting records kept by rhL' Lhurily and a comparisoii of the accounts presented
with those records. It also iJ)cludes Lonsideralion of anJ' wiusual iteIns or disclosures in the accounts. and seekin
explanations from Jou as Iruslees concerning any such maltcrs. The procedures undertaken do not provide all Ihe
Ther Ihc accounis present a
evidence Iliat would be required in an audit, and consequenil J. no opinion is given as lo ￿'het
'true and fair vie￿. atid ille report is liiniled to those ii)atters set out in tlle statenients beluw.
Indepei)dent examiner's statemci)t
In coiinection with Iny e*amiiiatlOll, 110 tter lias come to iiiy atteiition..
wliich gives Ine reasonable cause to believe that, in any material respect. the requiremenlb
to keep accounting rccords in accordance with Section 3 86 ai)d 387 ot the Companies Act 2006; and
to prepare accounls H,hich acLord with the accounliiig records, coiiiply ￿ ith the aL'counting requiretnents
of 5eclion 394 an¢J 395 of Ihc Companius ALI 2006 and with the methods and principles of the
Accounti1)8 and Reporling by Charilies
Siclteinenl of Recoiiiimeiided Practice appliLable lo charities
prepariiis, tlieir accounts in accnrdance with the Financial Reporting £tdndard applicable iii the UK and
RLpuhlic ot Irelaiid (FRS 102) (eftective l Jil]iuar)' 2015)
have not beeii iiiet: or
(2)
to which, in iny opinion, atleniion should be drawn in order to eiiable a proper understanding of the accounts
to be reaclied.
Darren Clark Cooper BA {Iloiis), F.C,A., C.T.A.
A Allei) & Soli Liimited
45 IlniDn Road
NL'M, Mills
Hfrgh Pcak
SK?? 3EL
1.3 February 202.$

Moseley Railway Trust
Profit and Loss Account
For the year ended 31 December 2024
C7roup
2024
Group Company Company
2023
2024
2023
Turnover
87,205
84 136 79,793
75,214
Expenses
76,044
70,625
68,632
61,703
Profit on Ordinary Activities before
Taxation
11.16l
13,511
11,161
13.511
Taxation
Profit after Tax transferred to Reserves
11.161
13.511
11,161
13,511
Profit is stst¢d after charging:
Group
2024
Group Company Company
2023
2024
2023
Ind¢p¢nd¢nt Accountant's I'ee
Depieciation
Bank and PayPal charg¢s
715
17,731
1,256
688
575
18,992 17,731
1,716
84
550
18,992
201

Moseley Railway Trust
Balance Sheet
at 31 December 2024
Note
Group
2024
Group
2023
Company Company
2024
2023
Fixed Assets
769.902
553,105
769,902
553,105
Investments
13.350
13.500
14J50
14,500
Currenl A&gets
Stocks
Debtors
Cash at bank and in hand
7.682
15,422
992
102,096
10,752
15,022
4,266
19.207
7,043
18,557
120,494
100,948
119,219
Creditors: amounts falling due within
one year
Net Current Assets
496
72,723
49.733
73.723
48,733
Long Term Liabilitie8
Net A9￿ts
Deferred Capilal Grnnts
Restricted Funds
Income and Expenditure Account
Revaluation Account
Members, Funds
552,878
2.400
200,227
367,847
5,935
189,066
552.878
2,400
200,227
367,847
5,935
189,066
10
For the year ended 31 December 2024 the company was entitled to exemption under Section 477(2) of the
Companies Act 2(K)6.
The members have not required the company to obtsin an audil in accordance with Section 476 of the
Companies Act 2006.
The directors acknowledge their responstbility for..
i. ensuring the company keeps accounting records whi¢h comply with Section 386 and 387 of the Companies
Act 2006 and:
li. preparing ac￿Unts which give a true and fair view of the stste of affairs of the wmpany &8 at the end of the
financial year. and of its profit or loss for the financial year. in arcordance with the requirements of section 394
and 395 and which otherwise comply with the rryuirements of the Companies Ad 2006 r¢lating to arwunts so
far as is applicable to the company.
The accounts have been prepared in accordance with the special provisions in Part 15 of th¢ Companies Act
2006 relatin8 to small companies.
These finanrial slat¢ED¢nts W¢T¢ aptffoved by the board of dirwtors on I" February 2025 and were signed on its
behalf by:
S R Lomax
Director
A F Ferrington
Treasurer
The notes on pages 8 to 14 fonn part of the Financial Statements.

Moseley Railway Trust
Statement of Financial Activities
For theyear ended 31 December 2024
Note
Unrestricted Restricted
Funds
Funds
Total
INCOMING RESOURCES
Membership Subscriptions
Donations and Gift Aid in Cash
Retail Sales Contribution
Storage recharged to MernbeTS
Train Fare Income
Other Income
3,422
16,532
5,110
5,507
32,590
1,988
3,422
211,368
5.110
5,507
31,878
2,700
194,836
Total Incoming Resources
65,149
194,836
259,985
RESOURCES EXPENt)FD
Direct Charitable Expenditure
Management and Administration
of th¢ Charity
3,774
52,987
14,34l
14.341
Total Resources Expended
63,554
3,774
67.128
Net Resources Expended
1,595
191,062
192,657
Members, Funds brought forward
629,583
5,935
635,518
Transf¢rs relating to Capital Expenditure
194,597
(194,597)
Memben, Funds carried forward
825,775
2,400 828,175

Moseley Railway Trust
Iyotes to the Statement of Financial Activities
l. Retail Sales Contribution
Sales
Less Cost of Sales
10,673
5,563
5,110
2. Direct Charitable Expenditure
Insurnnc¢
Rent and Electricity
Equipment and Property Maint¢nanc¢
Fuel
Maintenance Reserve
Transport
Depreciation
3,201
7,961
15,208
5.406
2,680
800
17.731
52,987
3. Management and Administration of the Charity
Membership Adrninistration
Marketing and Publicity
Accountant's Fee
Legal and Professional
Telcphone
Heritage Railway Association Membership
Bank and PayPal Cliarges
Adrninistration and M iscellaneou8
2.253
4,678
715
3,707
269
153
1,256
1.310
14,341
4. Reconciliation to Profit and Loss Account
Net Incoming Resources as above
Add: Det¢rred Capital Grants r¢l¢&sed
Restricted Funds utilised
Deduct.. Donations to Restricted Funds
Capital Grants
192,657
9,566
3,774
(239}
(194,597)
Profit on Ordinary Activitles before Taxation
11,161

Moseley Railway Trust
Notes to the Accounts
rformingpart ofihefinancial stalements)
Accountin% Policies .
The following accounting policies have been applied consistently in dealing with items
which are considered rn41teridl in relation to the oornpany's f￿anCIal statements.
Basis of Preparation
The financlal statemcnts 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 Rq)orting by Charities: Statement of Recommended Practice
applicable to charities preparing their accounts in accordance with the Financial
R¢porting Standard applic6ible in the UK and Republic of Ireland (FRS 102) (effective
l January 2015),, Financial Reporting Standard 102 'The Financial Reporting Standard
applicable in the UK and Republic of Irelalld, EFA, the and the Companies Aci 2006.
In preparing the financial statements it has been assumed that the company will
conlinue lo trade. The validity ofthis staternent is dependent on the continlied sUPPOrt
ol. its members, who have indicated that they will continue to support the company.
Turnover
Turnover represents the amounts derived from the provision of goods and services to
ustomers. and of unrestricted donations received, during the year.
Incoming Resources
All uicoming resources ar¢ in¢lud¢d in the Statement of Financial Activities when the
charAty is entitled to the income and the amount can be quantified with reasonable
accuracy.
Resources Expended
Expenditure is accounted for on an accruals basis and has been classified und¢r
headings that aggregate all costs relating to that category. Where costs cannot be
directly attributed tD particular headings, they have been allocated to activities on a
basis consistent with the use of resources.
Depreciation
No depreciation is currentty charged on fixed assets which are either museum artet'acts
or other railway equipment whose value is being maintained by their restoralion and
storage. All other plant and equipment is written off over periods of four to twenty
years, which represenÉ its estimated economic life.
Grants and Dollations
Separate individual Restricted Funds are created for grants and donations specified by
their fLmders for the purchase of fixed assets. Monies are held here until they are
expended. They are then transferred to Deferred Capital Grants and released to the
Income and Expenditure Account over the life of the related assets.
10

Moseley Railway Trust
Notes (contTnued)
Remuneration of Directors
No director received any ¢molurnents.
Fixed Assets - Group and Company
Leasehold
Land
Buildings
Exhibit8
Exbibits
Plant and Owned by on Loan
Equipment Company kn Companv
TTrtal
TAngible Assets
COST
AÈ start of y¢ar
Additions
Disposals
368,560
50,886
141,510 290.066 2.810 802,946
3.867 179,775
234,528
At end of y¢aT
14
-469 841
2 810. 1037 4.7.4
DEPRECIATION
At start of year
Charge for year
Elllninated on disposals
146,90?
11,647
97,139
6,084
5,800
249,841
17,731
At end of year
Net book value 2023
221,658
44,371 284,266
2.810
553,105
Net book value 2024
260,897
42,154 464,041
2,810
769,902
Investments
Group
2024
Group
2023
Company Company
2024
2023
Shares in Joint Venture Company
(Bugsworth Navigation Ltd)
Loan to Bugsworth Navigation Ltd
Shares in Subsidiary Company
10.000
3,350
10.000
3,500
i 0.000
3.350
i 0,000
3,500
13,350
13,500
14,350
14,500

Moseley Railway Trust
Notes (continued)
Investment5 (Continued)
Bugsworth Navigation Ltd.
Nature of business: leasing of land and buildings
Class of sharcs:
Ordinary shares of £250 each
Holding
Aggregate Capital and Reserves
Profitl(Loss) for the financÉal year
20,006
20,002
(4)
Apedale Valley Light Railway Ltd.
Nature of business: Railway events and sales
Class of shares:
OrdAiiary.skares of £1 each
Holding
100.00 /0
Aggregale capital and reserves
ProfitJ(Loss) for the f￿anCIal year
1,000
1,000
Debtors
Group Group Company Company
2024
2023
2024
2023
Amounts due from Third Parties
Amounl due trom Subsidiary Company
Prepaid Expenses
9,576 11,356
9.576
3,785
11,324
3,567
15 422 15 022
19
Creditors: amounts falling due within one year
Cvroup Cproup Company Company
2024
2023
2024
2023
Creditors and Accruals
Incom¢ rec¢iv¢d in advance
45,816 42,535
45,668
42.260
52,363 46,771
46,496
12

Moseley Railway Trust
Notes (contintded)
Long term liabilities- Group and Company
2024
2023
Loans from Members r¢payabl¢ between l and 2 years
Loans from Members repayable between 2 and 5 years
Liability in respect of Loaned Fixed Assets
2,000
2,000
The loans are unsecured.
The liability to Lenders of Fixed Assets will crystallise only. if the owners recall the
items concerned.
Deferred Capital Grants- Group and Company
2024
2023
At start of year
Received from Funders
Tr￿]Sferred from Rcstricted Funds
Released to Profit and Loss Account
367,847
374,890
194,597
3,428
(9,566) (10,471)
At end of year
552.878
367,847
Restricted Funds - Group and Company
Hudswell
Clarke
Hayfield
Coach
Iohp
Ruston
Total
At start of year
4,035
465
1,435
5,935
Donations received
during the year
239
239
UtiliS￿ during the year (3,774)
(3,774)
At end of year
13

Moseley Railway Trust
Notes (continued)
10.
Profit and Loss Accfjunt - Group and Company
2024
2023
At start of year
Profit for year
Transfer from Revaluation Account
189 066 175,105
11.161
13.511
450
At end of y¢ar
?QO.227 189,066
I l. Revalugtion Account - Group and Company
2024
2023
At start of year
Fixed Assets Dondkd during the year
Fixed Assets Disposcd of during the year
Released to Profit and IJOSS Account
72,670 73,120
(450)
At end of year
72 67Q
12. Capital Commitments - Group and Company
2024
2023
Authorised and contracted
Authoriscd, not contractcd
8,300
1,500
8,300
1,500
14

Moseley Railway Trust
Detailed Income and Expenditure Account
For the year ended 31 December 2024
Group
2024
Cwroup
2023
Income
l>hop Sales
Storagc Charg¢s to M¢mb¢rs
l)un&lionb from Nl#mb(ws
Othcr Donations
(lift Aid Refunds
Annual Subscriptions
Santa Train Receipts
Party Vi5iis
Train Fares
NGRS Rent IleLeivublc
D¢ferr¢d Capital Grants Released
10,673
5,507
11,947
6.650
3,083
11,010
1,767
I I
3,422
15,285
712
24,508
1,000
9,566
3,384
18,771
266
21,295
1,000
10,471
Total Income
87,205
84,136
xpendlture
Cost of Shop Sales
Insurance
Ilcnt and EILctriiity
l.oco, Stock and Plant & Pernianent Way Maintenance
FLscI
Tran8POrt
MaintenanrK R¢s¢rve
%pcLi&l Evcnt CL)St¥
Santh Train Costs
Membership Administration .
l.egal an.d Professi.onal fees
m￿k￿ting land Publi¥ity
Administration and Miscellaneous
Bank and PayPal Charge.%
Dep￿lIation of Buildings and Equipment
5,272
3,228
6,782
10.028
4,268
2,1?5
2,625
2.050
4,674
1.976
688
4.515
1,686
.716
18,992
3,201
7,961
11,433
5,406
800
2,680
3.538
3,390
2,253
4.678
1,732
1,256
17,731
Total Expenditure
76,1144
70,625
Surplus for year transferred to Reserves
11,161
13,511
15