NORTH EAST BUS PRESERVATION TRusf LIMrrED REPORT ANO FINANCIAL sfATeMENTS YEAR ENDED 31 DECEMBEA 2024 COMPANY REGisfRATION NO. 04961248 CHARrrY NUMBER 1103051
NORTH EAST WS PRESERVATION TA UMThJ FINANCIAL ¥fATEMEKrs YEAR ENDED 315r DECEMBER 2024 Contents Pa9e Reference and Plrninistrative Informal Trustee5 Anwal Report I¢fident Examiners Report StatemeTht of nancIal Affalrs Notes fornilng Part of the fina1 slatnts 8-12
NORTH BUS PRESERVAn(w Trusr UMrrED REFERENCE ANO ADMIN15fRATIVE JNFORMATI(hY YEAR ENDED 315r DECEMBER 2024 The Trustees prnt thr repNt ar1 finaKial ststunerts for year eThJed 31st tkcember 2024. CONSfrrunoN North East Bus Preservation Tn& is a compary limited ty guarantre aThl a regL4ered thaiity. DIREcfoRS 4P4D TRUSfEes The Trustees of rhe thariraNe company {the dntyl are rt5 Trnstees for the purk¥J5e ol tharity low and throu9lTrJA thi4 re collectively referred to a5 the Trustees. CHARITY NAME North Eax Bus Preservatpjn Trust Umthl COMPANY NUMBER 49612q8 CHAIUTY NUMBER 1103051 REGisfERED OFFICE 122 Re9ertt Farm Roat1 Newcastle Uwn Tyne NE3 3HE BOARD OF TRuEEs Philip Ltyie Ian derSOn (resigned 29th May 20251 David GaMbS IrcsvJncd 29th May 20251 Richard Slater {reygned 29th Moy 2025) Peter Ellh)tt Ires4ned 29th May 20251 Oavid Warrcn {rgned Lgth Marth 20Z51 Peter Mitchell Tor Hiw {ns(gned 25th AprA Z0241 Andrew Dokn (resigned 25th Awil 2024} Caroline EIIK)tt Ire5igred 25th April 2024) Robert Kell llesigned 25th April 20241 Andrew TWedd {apwintsJ 29th May 20251 Alex Spiller lawointed 29th May 2025) Simon Cowley lappointeo 29th May 2025) The fogknwing Tru5tee5 vre also tir&tots oftts thmparty Philip Log lan Mde¥son Iresigrd 29th May 20251 Peter Elliotr {re%9ned 29th May 20251 .TVOr Hu)es (resigned 25th April 20241 Andrew Llan Ire&gnod 25th 20241 Trjrew TWedd lappointe(5 29th May 2025) Peier Mitchell (appointed 29th May 2025) Alcx Spillcr laprxThnted 29th May 20251 "rnon Cowky {appointed 29th May 20251 ACCOU14TANTS Wethaters 34 FrcdcrKk Street SundertanLS SRI ILP BANKERS Uoyds TSB txjrham
NORTH EAST BUS PRESERVATION TRUSf UMrrED TRUSTEES REPORT YEAR ENDED 31ST DECEMBER 2024 The Trustees a pleased to prnt their report together with the financial 5tstements of the charity for the year ended 31st December 2024. Objects of the charity The objects of the charity are set out in the rnemorandum and articles of assoaation. Organi5ation and background The charity is administered by its board of Trustees.in accordance with the Arts"cles of A<sociation. For the year to 3151 Dmber 2024. the board was comprised of the Trustees listed at page 2. The Trustees meet monthly on the the second Tuesday of every month. and members attend in(b)r winter meetings or outdoor summer trips on the fourth Tuesday of every month. The society was formed in 1980 to encourage the preservation and dtsplay of public transport vehides from the North East of England with charitsble status being gained in 21)03. Running Aims We intend to continue with our prograrnme of Heritage and Museum work and will also continue to attend and 5UPPOrt a number of cultural events. In the past these have inclu(led Heritage Open Days, Local Historical Societies, Charities and Local Community Fairs. We ind to expand on this over the coming yea. Premi5e5 Aims We maintain the sum of £50.000 in a designated fvnd to assist in the acquisition of a premises to enable US to store, maintain and display our vehicles in one building should a suitable property become available. Achievements In Year The year ended 31st December 2024 saw North East Bus Preservation Trust continue to provide the servi5 and carry out the activities for which it is was formed and in accordance with its charitsble objects. We continued to perform maintenance and restoration work on our fleet of tSe$ in order to safeguard and preseive this part of our regions heritage. On a number of occasions we also took the opportunitiy to showcase our work to the wider public. Highlights included our rallies at the metrontre and at SeaLrn. In addition we held several depot open days during the year and these were well attended and seemed to be thoroughly enjoyed by attend. In common with a lot of non profit organisations, generating 5uffficient financial resources to carry out our charitsble objects is increasingly difficult and we are in(iebted and extremety gratdul to everytody who donated their time and money to North East Bu5 Preservation Trust during the year. The disposal of several vehicles during the year ended 31st December 2024 helped to stsbilise our finances but we cannot rely on this as a recurring source of income. On a posits.ve note our incre65ingly strong relationship with Beamish Museum shown a lot of promise and the Trusttts remain optimistic about the Trust's future prospects. Future Developments There are a number of vehicles that are being repainted and mechanically improved and the team who undertake this work will continue in their endeavours. In addition we will continue to foster close links with organisations similar to our own and to assist and Sha technKal and other knowledge with these organisation5.
NORTH EAsf BUS PRESERVATION TRlI UMrrED TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2024 Trustees Responsibilities Company law requires the Trustees to prepare finanaal statements that give a true and fair view of the stste of affairs of the charity at the end of the financial year and of its surplus or deficit for that period. In preparin9 those accounts, the trustees are required to: select suitsble accounting wlicies and apply them consistently- * observe the methods and principks in the Charities SORP (FRS 102).. make judgements and estimates that are reasonable and prudent: prepare the accounts on the goirrfJ concem bags unless it is inappropriate to presume that the company will continue in business. The Trustees are responsible for keeping proFer accounting records which disclose with reasonable accuracy at any time the financial pjsition of the company and to enable them to ensu that the accounts comply with the Companies Act 2006. They a also restx)nsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detecb.on of fraud and other irregularii*s. rder of Board 2025 A Twedd Chairmantrrustee
NORTH EAsf BUS PRESERVATION TRUST UMtrED INDEPENDENT EXAMINER'S REPORT YEAR ENDED 31sr DECEMBER 2024 We #t on the at¢ounts of the NORTh EAST BUS PRESERVATtON TRUST UMITED for year ended 31st Decemter 2024. which are set outon pages 6 10 12. These KcouNS pokwred in a(rtsrdan with Reportirq stthId apF4icab)e in the UK and Republe of Ireland {FRS 1021, under ihe histo cost conventxin the Kcountiry polw set ¢yJt on pa9es 8 arn19. REspecTThE RESPONSIBILrriES OF DIREcfops AND UAMINERS As the chariW5 Trus$ yoii reswrt9bk the Weparatb ol the accounts y¢Ju cDns#Jer that the affit requir¢ment of seCtn 144{21 of tharities Att 20LI {the 2011 Act) does N)t appty. Ir is our rewn5it¥lty to slate. on the ba5t5 of specffiLMI in the General Directyon 9Nen by the thanty ComnwssJn ur¥Jer sen 145{5)b of 2011 A¢ parbojbr matters have (#ne to our attention. BASIS OF INDEPENOENT EXAMINER'5 REPORT Our etsminatitin was carried in accord3C v4Qh the Gerra1 rect giwen the Clh3rity Commissiorrs. An examination inchjdes rew¢w of the accounting recc¢ds kept thanty ar a cornpariy)n of the acu)unts presented Yiith tth)se record5. 11 a0 includes cOnderation of any unusval iterns or dtsdrs aTh1 seekn"n9 explan00r fmm you a5 trust&s Concerni such rnatters. Tr protedures undertaken do Th)t provide all the evider that woubj be raJw&l th an audr( arxl ¢or6eqLntty we do rntexwess opnion on the vw given by the acc<MJnr Independent examlner's statement In connection our e1arnina no maver has to our tex.. 11 Whith gwes us reanatIe Cae to believe that in any material te5feCt the rujuirernents - to keep accouThbng records in KcordwKe se(ttr 130 of tr* 2011 Acr: arn1 . to prepa Kcounts whKh accord with ts accountiThJ rccords and io comF4y vrith cOUnti RyulTrnts of 2011 Att havc not been meL' 21 To whKh. in our opin attent) bE in (wdÉY fo enab a proper of xcounts to WEsfwATEPS 15th September 2025
NORTH FA¥f BUS PRESERVATIthN TRLSY UMtTeD A7EMENT OF FINAIKIAL AcrrvrrJES IIIKLUDING IhfoME ANO EXPENDrruREI Yw eNDED 315r [moi1024 TOTAL FUND5 2023 UNREStRIcfED DESIGNATED REStRICt8) TOTAL FUNDS RJNDS RJIIS FUNDS 2024 Plotes INCOMING RERcEs Incoming re50urce5 frtyn geraLI twxts . Voluntary irw))e . AlvIbeS for genuat¥wJ . Investment Incor4 Incoming r¢sources from chaitab Kly*thS Profit on frAed assets 82¥J 7ZO 82SYJ 720 29214 720 200 9064 446 18656 62(KJ 18656 102rJJ TOTA( INCOMING REScEs 37866 396q4 RE9)UR5 EXPENLED Costs of generntM¥J . Costs of generati 1th113ry cffje . FUndraIry tr&Jiry'.co& of sokl co 1271 1271 k782 Chèrrtablè acbvrtEs Governance costs 31446 1566 547 31993 1566 25824 1482 34283 547 54630 29086 NET INCOMINGIQUTGOlI ExCEs BEFORE TRANSFERS 417 3453 3036 10556 UNRWSED IWE5fmEP GAINI{LOSSI MOVEMENT IN fUNOS 417 53 3030 10556 TPANSFER BETvEN FUNDS 121KIO TOT FUNDS FC&WARD 58337 28085 136122 125866 roYAL fUNOS (XRRtED FORWARIJ 69920 139458 136422
NORTH PJJS PRESERVATION TRU UMrrED BALANCE SHEEr YEAR ENDED 31 OECEMBEA 2024 2024 2023 r4o¢es Fixed Assets Tangible Assets Investments 88375 97175 88375 97175 Cuffent Assets Cash èt bank and In har1 tkbto 46769 $850 41097 T¢tsl CurrentAs$ets 5Z6J9 41097 Current Li•bilities creditc5..Amnts falling due wthin one ye 1536 A850 1850 Net Current Assets 51083 39l47 Net A55ets 139458 136422 Fun¢$ of the Charity Rcstrirted hjnds Deggnated fu$ Unresttcred fuTrJs 12 12 12 19538 50000 69920 2B085 500tsJ 58337 Total Charfty Funds 1394SB 136422 These attounts have tttn prepared in aCcOrdar yth the special Prtiwsions relabng to 9nal cfynpans thIn Part 15 of Companles Act 2006 and in accordance with the Accounbw and ReKK)rt¥YJ ty Chariiies.. gatemenr of Recommendgj PractiTr applicab to Cha¥e$ prepa¥¥vJ r accounts in wth the Fwkil A1¥j kn¢Ja applicab in Il UK Rewbbc of IFRS 1021. For the finartial year a)ded 31st D&emr 2024, the coww wa5 entiued to exemptwM frtyD under sttbon 477 Compan5 ALt 2006,. and Th) ncTriice has been depOted under Sect)n 476. dirttttys kledge tt"r respor1"11f1es for cOMp.1¥j with the requirements of the Companies 2fy)6 respett accountiNJ records the preparatpjn of COUnts. 17,KK ose accounts were approved by the toard ............ ... .. ......... . 2025. rRusfEEIDIREcfoR
NORTh W WS PRESEAVATIThY TRusf LIMttED NOTESTO THE AccoUr5 YEAR ENDED 31sr DECEMBER 2024 l. Ac¢ountlng Poll¢i¢s The n0paI accwntiry are summarEed bekTh¥. The pthe5 ha ien Consisknfty throtyjhrt ts year. (a} Basls ot Actounll ThE financh?I siatenerts ha%e en prepa der hstorical cost Ccffj¥Eni in accordantr IJ financwl Rewtin9 Stard appbcable in the UK and RepubJK of IrelaNI {FRS 1021. the charit Acr 2011, Compan5 Art 21th and UK Generamy Accepted Accounting pral. (b) Fynd ArUnting - Unre5trKted funLts are for use at the distretK of the tnjslees fitherce of gereral (kniecbve5 of the charity. (c) IncorniThJ Resources All incoming resour5 are iluded in siatfftAt of firki131 adwirs when the (harity is io the Kome and the amount can te q)ntified wth reasonat4e accurncy. The foIkfv specrfK O"e$ are apFIl io pwtvJkr catewries of irKome: . Voluntary irthme 15 rttdved by way of 5ubxrirrtJis. donatytiAS and 9ilts arn16 in fvll in the SMemt of F(nandal when reNab. (d) Ilesources Expended ExFenditure is recL¥Jn¢sed an acuuats bass as a bilIty is imKrcl. E¥Fth1ure ideS any VAT whth canTrJt be fvI recovued and is rewrted as part of the e¥penditure io wlh it rekites: . Costs ofgenerab.ng fund5 Cornpr the costs a5Ciated attrKbrwJ income. - Charitable expendire comprise5 costs incurred by the tharity in delNerare of it5 othIlE5 61 5eNcÉs for itheficièries. It includes b)th costs that can be alkKated directy to acbvibes and th)se costs of an ind*rect nabjre necessary to yJprort them. . Governantr costs iude costs ass(K corLsbttJbfyi& aryl reqUIrts ofthe chanty irKWe the aud4t fees and costs linked to the strategic mèrogement of the chanty. - An costs are alkxated the expenditure categone5 ofttk &JFA on a bay5 desig ro rel Ihe w of the resource. Co relatin9 to a particukr activity a albcaraj directy. others affj appth.ortd on an aroate l)asis i.e. Iljor area5. pv caFits or esb"mared usage as set out in Note 4.
NORTH EAST BUS PRESERVATION TRU5f UM )TES TO THE AccouNrs YEAR ENDEO 31ST DECEMBER 2024 (e) fixed Assets Tangib fNed assets and depreciation tpreiiarty) is kmided ar the fouowing arrnal raLts •) b) Wri off eath assetovw d5 e5tTh useful lrfe.. Rorcd Vehklcs Plant ènd Mathinery 141L 15% No 15 applied to the Restored vets th ID an Ie35e in value ofter rewxalK 2. IneomSThg Resource5 Irorn Genernted P5 von IKC 1024 2023 Grants receNed na)(5 & Gwt Ad 8110 19728 1376 29214 1629 8290 1629 8290 vits fiv 9enerab.ng fvnds 2024 T<>tal 2023 Total to str*age no 720 720 720 720 J. In•9 Re50ur¢es Irom Charitable Acti¥ibes 2024 Total 1023 Total PAty Jncrffj & outings i¥thirNes 9356 931KS 9356 9300 18656 18656 90S4
NORTH eus pRvATIoN TRU UMrrEO io NOTES TO ThE ACCOUNTS YEAR ENDED 315r DECEMBER 2024 Stora costs 2140 2140 1213 27903 58 1950 1428 138 3051 1071 224S4 1213 Bus expenses 27903 711 319 1404 Ralty ExperL 19X+ 1428 138 Anrwal RLJrr6 1271 31993 5. 14et InoJmin9 Resources for the Yr This ts gated after thargirg:_ 2024 2023 Deweootion 1428 14(Wl 6. Tnbstee RemuneTrtion & Relèotd P•rty Tr•nsèrtions No oftr Mlm• Commiitee recevled any IneVa1 tkniNJ the y ed 31st Decemtw 2024. [ring tt year ended 31# Ccember 2024 three tJwtees lein5¢d a c£¥d lotal d É844 for Trust eXrSe$ paid pnalty I£L.994 in 20231. No Trustee other person related iv thaTY ¥ve5t5 cortrKtor traclM entered irtc chwity year {20Z3-NILI. 7. TaxatS0 As a the North &ist &Js Preservation Tnjst Ltd 15 exempt from tax gall falling sertlw 505 of the Taxes Art 1988 or $256 of the Taxation ol Owryeabk Gan5 lct 1992 10 ty art appld to Ifs thar*abÈ obptts. r40 lax dw9es have aen in the Charity.
NORTH EAsf Bus PRESERVATION TR UMrrED li NOTES TO THE ACCOU5 YEAR EPIDED 31ST OECEMeER 2024 8.Tangible Fixed Assets Vehlcles T¢knl orva At 1st January 2024 AddiDDns RevaatiOnS 97175 97175 Disp)5aLs At 31st [ember 2024 88375 88375 reoatioTh At Istjanuary 2024 Charge for Year At 31st rnIr 2024 At 31st Dernr 2024 88375 88375 At 31st Dttemter 2023 97175 97175 No assets have teen hekl duriry the year to 31st December 2024 wder a fmarKe kne agrttn*nL 9. Creditors: Amounts Falling Due within One Year 2024 2023 Arnovnt5 falling due within ore year-. Accruals Expenses payabk to R Kell 1536 1482 1536 1850
NOATH BUS PRESERVATIC4 TrIM LIMrtEO 12 NOTES TO ThE ACCOU14TS YEAR ENDED 31ST DECEMBER 2024 10. Desi9nated Funds Bahn¢e 31st Oec Isi Ja 2024 Incomi Out90i•w Tran5fer5 2024 Pmpty Fund DcsigTrated Fund at 31st t£errt 2023 S0(M)O 50000 11. Anèlysis of Net Assets Between Funds General Fwnds Funts Funds Total Fund5 Tarwjible Fixed Awls Fixed Asset Investmtyits Current Assets 68837 883 2619 -1536 52619 Current Lwtxfiies -1536 Net A55ets at 315t Dernber 2023 69920 50000 19538 139458 12. Movement irt Funds At 31 Dec Incornin4 Out90ing Resources Transfers At 31 DEC 1024 Restricted Fund5 28085 -547 -12CI 19538 Toial Restricted Fd$ 25 -547 -12(MJO 19538 Desi9n•ted Funds Total [ted Funds 50rxio Unrestricted Fund5 58337 .34283 I2(0 69920 Total UnrestrKted Funds 58337 33866 -34283 121X)O 69920 13. Restrirted Funds At 31 Dec IDcomin9 Outyoing 2023 Reswwces Resources Tvansfas At310e 1024 Purchase of Bu5 HKL826 Purchase of Bus PHN699 Restoration of Bus ABR433 Restoration & rna1ntenae of rthr bL -12000 2075 18010 2075 -s47 17463 Totsl Re5trthd FuTrJs -547 -120(X] 19538
NORTH EAsf BUS PRESERVAnlYI TRLW UMrrED APPENDIX I. INCOME AND E%PENDrruRE Accoumr YEAR ENDED 31sr DEMBER 2024 NORTH FAsf 8US PRESEAVAnlY4 TRUSf UMrtED 2024 2023 INCOME AND EXPE14DrruRE IOM1Th9 resources ContribubDn5 to Storage M¢mktshlp feos tX>nations 720 1629 3374 72Q 1376 14Y2 8110 8364 4727 200 Grants reNed Rasty IrKome GiftA 6365 3287 IftvesDnent income Attendore incentwes Miscellaneous iulA9 OUngS Profit on Sa of red assets 930D 2991 10200 700 446 Toral IoMing Resources 3?866 3958S Rcsources Ewded Rent Storage c05ES Newsletter Bus expenses Ralty expen5e5 Administration costs 5000 2140 1213 3051 1071 17454 319 22903 1950 711 78 1272 nual ReturThs Accountancy 138 1428 34830 28956 Net Movement in Funds 3036 10629
NORTH W BUS PRESERVATION TRUS[ UMtrED APPENDIX 2. INCOME ANO EXPENDrruRE ACCOlT YEAR ENDEO 315r DECEMBER 2024 NORTHERN OMN18VS TrUST 2024 2023 INCOME AND EXPENDrruAE IOnng reurCeS oonab.ons & Gift Ahl 59 59 Totsl Incornin9 Resources Re50urce5 Expended Bus eypen5es AdministratKJn exrEn5e5 132 132 Net Movement in Funds -73