2025-12-31-accounts - North East Bus Preservation Trust Limited

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NORTH EAST BUS PRESERVATION TRUST LIMITED

REPORT AND FINANCIAL STATEMENTS

YEAR ENDED 31ST DECEMBER 2025

COMPANY REGISTRATION NO. 04961248

CHARITY NUMBER 1103051

NORTH EAST BUS PRESERVATION TRUST LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31ST DECEMBER 2025


Reference and Administrative Information		2
Trustees Annual Report	3	- 4
Independent Examiners Report		5
Statement of Financial Affairs		6
Balance Sheet		7
Notes forming part of the financial statements	8 -	12

NORTH EAST BUS PRESERVATION TRUST LIMITED

REFERENCE AND ADMINISTRATIVE INFORMATION

YEAR ENDED 31ST DECEMBER 2025

The Trustees present their report and financial statements for the year ended 31st December 2025.

CONSTITUTION

North East Bus Preservation Trust is a company limited by guarantee and a registered charity.

DIRECTORS AND TRUSTEES

The Trustees of the charitable company (the charity) are its Trustees for the purpose of charity law and throughout this report are collectively referred to as the Trustees.

CHARITY NAME

North East Bus Preservation Trust Limited

COMPANY NUMBER

4961248

CHARITY NUMBER

1103051

REGISTERED OFFICE

122 Regent Farm Road Newcastle Upon Tyne NE3 3HE

BOARD OF TRUSTEES

Philip Logie Peter Mitchell Andrew Tweddle (appointed 29th May 2025) Alex Spiller (appointed 29th May 2025) Simon Cowley (appointed 7th May 2025) Ian Alderson (resigned 29th May 2025) David Gambles (resigned 29th May 2025) Richard Slater (resigned 29th May 2025) Peter Elliott (resigned 29th May 2025) David Warren (resigned 19th March 2025)

The following Trustees were also Directors of the company Philip Logie Andrew Tweddle (appointed 29th May 2025) Peter Mitchell (appointed 29th May 2025) Alex Spiller (appointed 29th May 2025) Simon Cowley (appointed 29th May 2025) Ian Alderson (resigned 29th May 2025) Peter Elliott (resigned 29th May 2025)

ACCOUNTANTS

Westwaters 34 Frederick Street Sunderland SR1 1LP

BANKERS

Lloyds Durham

NORTH EAST BUS PRESERVATION TRUST LIMITED

TRUSTEES REPORT

YEAR ENDED 31ST DECEMBER 2025

The Trustees are pleased to present their report together with the financial statements of the charity for the year ended 31st December 2025.

Objects of the charity

The objects of the charity are set out in the memorandum and articles of association.

Organisation and background

The charity is administered by its board of Trustees in accordance with the Articles of Association. For the year to 31st December 2025, the board was comprised of the Trustees listed at page 2.

The Trustees meet monthly on the the second Thursday of every month, and outings are arranged for members to attend.

The society was formed in 1980 to encourage the preservation and display of public transport vehicles from the North East of England with charitable status being gained in 2003.

Running Aims

We intend to continue with our programme of Heritage and Museum work and will also continue to attend and support a number of cultural events. In the past these have included Heritage Open Days, Local Historical Societies, Charities and Local Community Fairs. We intend to expand on this over the coming years.

Achievements In Year

The year ended 31st December 2025 proved to be very busy and productive.

Our charitable objectives include both the restoration of vehicles of historical significance and enabling the general public to experience the transport of yesteryear.

In furtherance of these objectives during the year ended 31st December 2025 we continued to to perform maintenance and restoration work on our fleet of buses.

The interactions with the general public included highly successful rallies at the Metrocentre and Seaburn. Other highlighs included having one of our buses on display in Sunderland City Centre as part of the commemoration of the 80th anniversary of VE Day and our participation in the Gan Canny Gala at Tanfield Railway.

Our relationship with Beamish Museum continued to bear fruit during the year ended 31st December 2025. Having our buses on loan at Beamish served the dual purpose of raising funds for our organisation and introduced our buses to a lot of people who might otherwise not get to experience them.

As with a lot of organisations in the not for profit sector generating suffficient financial resources to carry out our charitable objects can be difficult and we are indebted and extremely grateful to everybody who donated their time and money to North East Bus Preservation Trust during the year.

Whilst the wider financial macro climate for organisations such as ours remains difficult, actions taken by the Trustees such as the sale of certain vehicles and the cultivation of our relationship with Beamish Museum has served to strengthen the organisations financial position at the end of 2025 and going forward into 2026.

Future Developments

We will continue to maintain and restore our fleet of buses and to display these to wider public when the opportunity to do so arises. We will also continue to foster close links with organisations similar to our own and to assist and share technical and other knowledge with said organisations.

We have a busy schedule of events arranged for 2026 and look forward to these and to continuing to fulfill our charitable objectives.

NORTH EAST BUS PRESERVATION TRUST LIMITED

TRUSTEES REPORT

YEAR ENDED 31ST DECEMBER 2025

Trustees Responsibilities

Company law requires the Trustees to prepare financial statements that give a true and fair view of the state of affairs of the charity at the end of the financial year and of its surplus or deficit for that period. In preparing those accounts, the trustees are required to:

select suitable accounting policies and apply them consistently:
observe the methods and principles in the Charities SORP (FRS 102):
make judgements and estimates that are reasonable and prudent:
prepare the accounts on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

By order of the Board

11th June 2026

…………………………………………..

A Tweddle Chairman/Trustee

NORTH EAST BUS PRESERVATION TRUST LIMITED

INDEPENDENT EXAMINER'S REPORT

YEAR ENDED 31ST DECEMBER 2025

We report on the accounts of the NORTH EAST BUS PRESERVATION TRUST LIMITED for the year ended 31st December 2025, which are set out on pages 6 to 12. These accounts have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), under the historical cost convention and the accounting policies set out on pages 8 and 9.

RESPECTIVE RESPONSIBILITIES OF DIRECTORS AND EXAMINERS

As the charity's Trustees you are responsible for the preparation of the accounts; you consider that the audit requirement of section 144(2) of Charities Act 2011 (the 2011 Act) does not apply. It is our responsibility to state, on the basis of procedures specified in the General Direction given by the Charity Commission under section 145(5)b of the 2011 Act, whether any particular matters have come to our attention.

BASIS OF INDEPENDENT EXAMINER'S REPORT

Our examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures and seeking explantions from you as trustees concerning such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently we do not express an audit opinion on the view given by the accounts.

Independent examiner's statement

In connection with our examination, no matter has come to our attention:

1) Which gives us reasonable cause to believe that in any material respect the requirements
to keep accounting records in accordance with section 130 of the 2011 Act; and
to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met;
2) To which, in our opinion, attention should be drawn in order to enable a proper understanding of accounts to be reached.

…………………………………………………………..

WESTWATERS

6th May 2026

NORTH EAST BUS PRESERVATION TRUST LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE)

YEAR ENDED 31ST DECEMBER 2025

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TOTAL
UNRESTRICTED DESIGNATED RESTRICTED TOTAL FUNDS
Notes FUNDS FUNDS FUNDS FUNDS 2025 2024
£ £ £ £ £
INCOMING RESOURCES
Incoming resources from generated funds 2
- Voluntary income 6657 0 0 6657 8290
- Activities for generating funds 960 0 0 960 720
- Investment Income 0 0 0 0 0
Incoming resources from charitable activities 3 29567 0 0 29567 18656
Profit on sale of fixed assets 3412 0 0 3412 10200
TOTAL INCOMING RESOURCES 40596 0 0 40596 37866
RESOURCES EXPENDED 4
Costs of generating funds
- Costs of generating voluntary income 1258 0 0 1258 1271
- Fundraising trading:cost of goods sold and other costs 0 0 0 0 0
- Investment management costs 0 0 0 0 0
Charitable activities 22976 0 2580 25556 31993
Governance costs 1620 0 0 1620 1566
TOTAL RESOURCES EXPENDED 25854 0 2580 28434 34830
NET INCOMING/OUTGOING RESOURCES 14742 0 -2580 12162 3036
BEFORE TRANSFERS
UNREALISED INVESTMENT GAIN/(LOSS) 0 0 0 0 0
NET MOVEMENT IN FUNDS 14742 0 -2580 12162 3036
TRANSFER BETWEEN FUNDS 50000 -50000 0
TOTAL FUNDS BROUGHT FORWARD 69920 50000 19538 139458 136422
TOTAL FUNDS CARRIED FORWARD 134662 0 16958 151620 139458
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NORTH EAST BUS PRESERVATION TRUST LIMITED

BALANCE SHEET

YEAR ENDED 31ST DECEMBER 2025

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2025 2024
Notes
Fixed Assets
Tangible Assets 8 87787 88375
87787 88375
Current Assets
Cash at bank and in hand 58903 46769
Debtors 6550 5850
Total Current Assets 65453 52619
Current Liabilities
Creditors:Amounts falling due within one year 9 1620 1536
1620 1536
Net Current Assets 63833 51083
Net Assets 151620 139458
Funds of the Charity
Restricted funds 12 16958 19538
Designated funds 12 0 50000
Unrestricted funds 12 134662 69920
Total Charity Funds 151620 139458
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These accounts have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

For the financial year ended 31st December 2025, the company was entitled to exemption from audit under section 477 Companies Act 2006; and no notice has been deposited under section 476. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These accounts were approved by the board on 11th June 2026.

…………………………………………………… A TWEDDLE TRUSTEE/DIRECTOR

NORTH EAST BUS PRESERVATION TRUST LIMITED

NOTES TO THE ACCOUNTS

YEAR ENDED 31ST DECEMBER 2025

1. Accounting Policies

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year.

(a) Basis of Accounting

The financial statements have been prepared under the historical cost convention in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.

(b) Fund Accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor.

(c) Incoming Resources

All incoming resources are included in statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

Voluntary income is received by way of subscriptions, donations and gifts and is included in full in the Statement of Financial Activities when receivable.

(d) Resources Expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates:

Costs of generating funds comprise the costs associated with attracting voluntary income.
Charitable expenditure comprises those costs incurred by the charity in the deliverance of its activiites and services for it's beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity.
All costs are allocated between the expenditure categories of the SoFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis i.e. floor areas, per capita or estimated usage as set out in Note 4.

NORTH EAST BUS PRESERVATION TRUST LIMITED

NOTES TO THE ACCOUNTS

YEAR ENDED 31ST DECEMBER 2025

(e) Fixed Assets

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Restored Vehicles NIL Plant and Machinery 15%

No depreciation is applied to the Restored Vehicles due to an increase in value after restoration.

2. Incoming Resources from Generated Funds

Voluntary Income Unrestricted Grants received 2000 Donations & Gift Aid 3026 Membership Fees 1631 6657 Activities for generating funds Unrestricted Contributions to storage 960 960 3. Incoming Resources from Charitable Activities Unrestricted Rally inc, outings & misc 10271 Attendance incentives 19296 29567	Restricted 0 0 0 0 Restricted 0 0 Restricted 0 0 0	2025 2000 3026 1631 6657 2025 Total 960 960 2025 Total 10271 19296 29567	2024 0 6661 1629 8290 2024 Total 720 720 2024 Total 9356 9300 18656

NORTH EAST BUS PRESERVATION TRUST LIMITED

NOTES TO THE ACCOUNTS

YEAR ENDED 31ST DECEMBER 2025

4. Resources Expended

Storage costs Newsletter Bus expenses Administration expenses Rally Expenses Accountants Fee Annual Returns	Basis of Allocation Activities for generating Funds Chatitable Activities Governance 2025 Total 3392 3392 1168 1168 20293 20293 90 90 1871 1871 1512 1512 108 108 1258 25556 1620 28434	2024 2140 1213 27903 58 1950 1428 138 34830

5. Net Incoming Resources for the Year

This is stated after charging;-

This is stated after charging;-
	2025	2024
Depreciation	0	0
Accountants Fee	1512	1428

6. Trustee Remuneration & Related Party Transactions

No members of the M/ment Committee received any remuneration during the year ended 31st December 2025.

During the year ended 31st December 2025 trustees were reimbursed a total of £195 for Trust expenses paid personally (£844 in 2024).

No Trustee or other person related to the charity had any personal interests in any contract or transaction entered into by the charity during the year (2024-NIL).

7. Taxation

As a charity, the North East Bus Preservation Trust Ltd is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to it's charitable objects. No tax charges have arisen in the Charity.

NORTH EAST BUS PRESERVATION TRUST LIMITED

NOTES TO THE ACCOUNTS

YEAR ENDED 31ST DECEMBER 2025

8.Tangible Fixed Assets

Cost or Valuation At 1st January 2025 Additions Revaluations Disposals At 31st December 2025 Depreciation At 1st January 2025 Charge for Year Dispoals At 31st December 2025 Net Book Values At 31st December 2025 At 31st December 2024	Motor Vehicles 88375 0 0 -588 87787 0 0 0 0 87787 88375	Total 88375 0 0 -588 87787 0 0 0 0 87787 88375

No assets have been held during the year to 31st December 2025 under a finance lease agreement.

9. Creditors: Amounts Falling Due within One Year

Amounts falling due within one year: Accruals	2025 1620 1620	2024 1536 1536

NORTH EAST BUS PRESERVATION TRUST LIMITED

NOTES TO THE ACCOUNTS

YEAR ENDED 31ST DECEMBER 2025

10. Designated Funds

Property Fund
Designated Fund at 31st December 2025
11. Analysis of Net Assets Between Funds
Tangible Fixed Assets
Fixed Asset Investments
Current Assets
Current Liabilities
Net Assets at 31st December 2025
12. Movement in Funds
Restricted Funds
Total Restricted Funds
Designated Funds
Total Designated Funds
Unrestricted Funds
Total Unrestricted Funds
13. Restricted Funds
Purchase of Bus PHN699
Restoration of Bus ABR433
Restoration & maintenance of other specified buses
Total Restricted Funds

Balance
Balance
1st Jan
Movement in Resources
31st Dec
2025
Incoming
Outgoing
Transfers
2025
50000
0
0
-50000
0
50000
0
0
-50000
0
General
Funds
Designated
Funds
Restricted
Funds
Total Funds
70829
0
16958
87787
0
0
0
0
65453
0
0
65453
-1620
0
0
-1620
134662
0
16958
151620
At 31 Dec
2024
Incoming
Resources
Outgoing
Resources
Transfers
At 31 Dec
2025
19538
0
-2580
0
16958
19538
0
-2580
0
16958
50000
0
0
-50000
0
50000
0
0
-50000
0
69920
40596
-25854
50000
134662
69920
40596
-25854
50000
134662
At 31 Dec
2024
Incoming
Resources
Outgoing
Resources
Transfers
At 31 Dec
2025
2075
0
-2075
0
0
17463
0
-505
0
16958
0
0
0
0
0
19538
0
-2580
0
16958

NORTH EAST BUS PRESERVATION TRUST LIMITED

APPENDIX

INCOME AND EXPENDITURE ACCOUNT

YEAR ENDED 31ST DECEMBER 2025

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NORTH EAST BUS PRESERVATION TRUST LIMITED
2025 2024
£ £
INCOME AND EXPENDITURE
Incoming resources
Contributions to storage 960 720
Membership fees 1631 1629
Donations 3026 3374
Grants received 2000 0
Rally Income 8320 6365
Gift Aid 0 3287
Attendance incentives 19296 9300
Miscellaneous including outings 1951 2991
Profit on sale of fixed assets 3412 10200
Total Incoming Resources 40596 37866
Resources Expended
Rent 5000 5000
Storage costs 3392 2140
Newsletter 1168 1213
Bus expenses 15293 22903
Rally expenses 1871 1950
Administration costs 90 58
Annual Returns 108 138
Accountancy 1512 1428
28434 34830
Net Movement in Funds 12162 3036
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