Chftrlty registion numbr 1116068 Compony ryl$tratlon number 03873466 IEngland and W¥l•sl THE WESTERN LOCOMOTIVE ASSOCIATION LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023
THE WESTERN LOCOMOTIVE ASSOCIATION LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustees R Smllh D Shelm8rdin& I Clayton P Flnch M Targett S8crntary I Cloylon Charlty number 1115058 Comp•ny number 0387346 Princlpal addrnss Severn VaNey Railway Bndgnorth Shropshira 16 5DT R•gl8t•Yed offlce 5 Prospècj Plac iltennium Way Prfde Pa Oethy OE24 8HG Independentoxamln6r Ashgates Corporate Seice5 Limited 5 Prospe¢i Place Mllènnium Way Pride Park Derby DE24 BHG
THE WESTERN LOCOMOTIVE ASSOCIATION LIMITED CONTENTS Trustees. rewKt Independènt examiners report Stalamonl L)f fin8ncial aclMlSe$ Balance sheet Notes lo the fin8ncial slalemenls 7-14
THE WESTERN LOCOMOTIVE ASSOCIATION LIMITED TRUSTEES, REPORT IINCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2023 Th¢ Iw8lees pre58nl Ihdr annual report and flnan¢lal slalemenl8 lor the year ended 30 Seplember 2023. The financial slalements hBve been prepared In acctsrdan(È wllh Ihe attounling pol$ sel oul in the note to Ihe financial stal8menls and compty wlh the tharily's goveming document. the Companies Aci 20 and 'Accounting and Rew)rting by Charities.. Slatemenl ol Recommended Pr8Cti¢• appllcable to charItS prepailng Iheir acLounls in accordance wrth the Fin8rval Reportlftg Standard appli¢•ble in the UK 8nd Republic Of Ire IFRS 1021. (effectlvè 1 January 2019}- Obloctlves and acVvSUe8 The charilrfs obhclfves gre the preservalion, maint6nanc8 and operation of 118 (now three) locomotwès, D1013 Wèstern R8nger. D1048 Weslern Lady And 01C62 Western Courlar and. so lar as reasonabty Pfaclical In a condition aulhenlbc lo th[ operalOn by British Rail. The Assodalbon was honourèd lo be gified locomoti D1048 stèrn L8dy on Septembèr 2023 and allhwgh coMete. the IoLxmolive will recelve a full o$sessment to detemiine how be81 lo preserve the lo(Jynotive for luiuiè yaars. The Charity's woth focusBgS on the preseivBtion, mainienan¢e and operdlKJn of Cbss 52 Dlesel Hydraull¢ locomtsllves to promotts lh& education of the history of such I0MOtive$ tts Ihè puNic. The Iruslees confirm Ihal Ihtsy have compl wlth the requirernenls of Secllon 17 01 the Charitles Ad 2011 lo have dl regard lo the publlc benefit guidance published by th8 Charity Commission for England and Wales. The tru51e85 have ld due r8gèrd lo gu6dAn¢% issued by Ihe Charity Comrnls8bn In deciding what atIeS the charity should undertakè. A¢hl•v8ments attd p•rforni•nc• During 2023, The Western Lo(J)ftTh)liv8 Associal)n Ltd IAl manayed lo achTreve another record yeai in tem)s ol Income. $IlIng in reojrd lund balances al £348k. This was wainly H¢hed Ihrough u)ntinuing wlth a high level of Income in all areas VerIng donat4ons, sales and opèrab'ng ineome. whKh in lolal, were up by over È22k or 37.6%. Expenditure h8s beèn (arefulty managed. resulllng In an increase in funds ollusl over £50k. Ouring 2023. the AWa8 Proud 10 eèbbrate D1062'8 6(W Birthday on 6th M8y and the locomotive wènl on 10 cover all ils operatlng days lor Ihe Season, with 100°k avail8bihty. Whh 01048 bng gifted lo Ihe Association, 311 Ih locomotives part1pated tho Sevem V8116y RaIlwaS hKJh profil& Aulumn Dlesel Bash. wilh bolh D10fj3 and D1048 on dlspLay and following 11 ext8mal repaints. A5 A nSequenCe of mLth puUiclty durfng Ihe year, the A's mtsmbership incrèased by over 30% 10 m8mbers. Thè WLA was ablè lo maintain Its Caon neutral 8l¥tu$ ond now h85 ovèr 300 trees p18nled since 2021. supporling the Trees for Llfe's Foresl Revitali5allon Pioiecl, localed in the Hlghlands ol Scolland. Durtng the yèar, Board continued lo work in conjunthon with the Mgnagemenl Commillee, hokfing four Board moetlngs and Ihree Management Commiliee 81ing$. Th8 WLA is graleful lo th& ¢onllnueii valuabk support from Ils Memb8rBhlp, Woiklng and Commlllea M8mter$. Flnanelal rovlew The lolal incx>ming restsui¢es for the year were £81k - È22k more thon 2022. M&inlenancè and overhaul spend inrxeased Ihls year ID £15k Lmpored lo the 2022 amount of £13k. Ca8h resèrves remain substantial at £154k 88 al 30 September 2023. is Ihe poltcy of th& ¢harlty lo hdd finandal re6eN8S ol al least £10,000 8t all limes. As al 30 September 2023 the charSty held ffee rèserves of £279.030 plus a fair valu8 ieswve of £43,041. The tru$lee$ have assessed th8 major risks to whith th8 thaiity is exFosed, and afo sallsfied th81 system8 are In place lo miiyate exposur8 lo the major risks.
THE WESTERN LOCOMOTIVE ASSOCIATION LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEAIBER 2023 Structure. gov•rnance and man#g•mèrt N•turg of governing documont The charity 1$ o company limiled by gugranteè, In¢orpctr818d on g Novefflber 1999 and registered as 8 ¢harily on 4 July 2. Thè company was established under a MemorarFdum ol AssocialKJn which estsbll$hl Ihe objects 8n<J powers of the charitab company and Is govwned by Ils Art{¢ ofAssocialloft. The trustees, who are also the diroctors lor the purpose of company law. and who seNéd during th6 yaai and up lo lh8 dale ol sign4re of the fin8rKi81 sl3l•m•nts wefè: R Smiih D Shèlmeidine I Clayton P Flnch D Payne IA Tai9elt (Resigned S November 20221 Recrultmtnt and 8ppolnlment oltru8teès Tho Directors ol the ¢ompany are also 1wsleos for the purposes of charfly13w and under Ihè compan18 artS are known as Members ol the Council. The governing board eonsisls ol a Board of Truslees who are 8pOn¢ al Ihe Annual Gènwal Meèllng and retire by rolalion every three years. R8lldng members are eligibl8 for re-election. The Iruslges, report Was approvèd by the Boatd of Tru5te8s. R Smilh Trnstoè P Finch Trustse 03.01,iou
THE WESTERN LOCOMOTIVE ASSOCIATION LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE WESTERN LOCOMOTPIE ASSOCIATION LIMITED I reporl the Imstées on my examinalion of the financ1 $lal¢menls of The SleM Loe4)molN8 Assodalbon Limitod Ilhe ch8rilyl lor the year ended 30 Septembèr 2023. Respon81bllltlo8 and basis of rnport As the Irusieos of thè tharily land also ils dliectofs lor the PUTposes of company law) you are re6ponsible for Ihe preparall¢)n ol the finanaal slalemenls in occordancé wllh the rÈ4uirern8nls ol the CompEnies Act 2 Ilhe 20C6 Act). Havlng Satisfied myself Ihal the flnancial slalèmenls of U)È charlly arè nol ffjquired lo be audlled under Part 16 of the Ad and are digible lor Indèpendent examinalK)n, I report in respect ol my oxamination of the chaiSty'8 flnan¢Lql slalemenls carried out under sectbn 145 01 U)e Chaiilies Act 2011 (thè 2011 Act). In Cafrying out my ex8min*r'on I have lolk)wed all th8 app1kab Directions glv6n by Ihe Charity &%nml8$lon under secti 14515)Ibl of Ihe 2011 ACL Indèp8ndont examinèrf8 statsment I have CoMe1ed my ex8minalon. l eonfim) Ihat no matters have come lo my all4nllon in COrCtiOn Ihe examlnalion giving me cause lo believe that in ony melerial respect." accounting records wèrè not kept in respect of Ihe chanly as requlred by secbon 386 of the 24 Acl,. or the llnanci81 stslements do not aeLord wilh ihos8 roeords., or the linanclal statements do not comFdy wblh the BeUntIng ¥equiffjments of section 396 of the 2CQ6 Act other than any requirement that the 8¢counts give a true and tsir wew whid) is not a m8ller considèred as part ol an independent examination", or the flnaftcial stalemenls have not been preparèd In aecordanc8 Wth thè methods and prlnclples ol the St8lemenl of Recommèrbd@d Practkè for 8ccounting and reporting by chanlies oWicabk lo charS1ies prèparing their accounts In accordar with tho Flnanci81 Rewrting Slandard gpplicab In thè UK and Republic of Ireland IFRS 1021. I have no concems and h8ve come 8cross no other mallers in connecllon with the examlnalion ID whh atlention should be drawn In this rep)rt In ord8r lo enablè a proper und8r818nding of the finantyal slalemenls lo be reath8d. Gavln Robert Booth Ashoat•s Corporate Serylces Llmlt 5 Prospect Pla¢9 Millennium WBY Pride Park Dèrby DE24 8HG 03.Qb. lou
THE WESTERN LOCOMOTIVE ASSOCIATION LIMITED STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2023 Unrestrfcted Restrlcted fund fundg 2023 2023 Totsl Unrèstrictèd R•strlcted lurtds fund¥ 2022 2022 Tot•1 2023 2022 Not•s Inc Donalions and legacles Charitae 8CtNities Olher Ir8ding activities Investments 32,787 8,830 23.016 68 32.787 24,845 23.018 68 17,231 16,528 21,619 17,231 19,7 21,619 16.015 3.268 Total incomè 64.701 16,015 80.716 55.378 3,268 Ex umo Raising fund$ 12,210 12,210 10.785 10,785 chari18e acti118$ 18,175 18,175 16.233 16.233 Olhèr 126 126 150 150 Totsl èxp&ndlture 30.511 30,511 27.168 27.1G8 Not Income for the yirl Net movèm•nt In lunds 34.164) 16.015 50.205 28.210 3,268 31,478 Fund balanc8È al 1 Odober 2022 287,681 10,021 297.2 2S9.671 6,7S3 286.424 Fund balancè$ at 30 SptèmbeY 2023 322,071 26,036 348,107 287.881 10.021 297.902 Thè sktemtnl of finan(aal adNities Indud&s 811 o8ins and lossès recognlsed in thè year. All Income and eXFnditur& deriv8 from conllnylng actimlies. The slalem8nl of fin8n¢id adThIeS also comrAiÈs wth thts roquirements for an inttme #nd expendtture aLY4Jvnl under ihtt Compantes A¢1 20Cfj.
THE WESTERN LOCOMOTIVE ASSOCIATION LIMITED BALANCE SHEET AS A T 30 SEPTEIWBER 2023 2023 2022 Notsg Flxèd ossets TBnoiNe aB$èts H•dtage 8ssets Investments 13 14 7.020 65.OOCt 11,OOD 3,199 11,(KK) 83.020 79,199 cur¥ a¥8•ts Stocks Dèbtors Cash al bank in hand 16 17 .149 17,452 153,776 85,762 18,17 117.220 267.377 221.049 CTrdltors: amounls f8lllng due wlthln one year 18 12.2901 12.3461 Nel cUrn1 assets 26S,087 218,703 Total a5sets1os• current Ilubililtg1 348.107 297,2 Incomè funds Restricted funds GeneTrl unrestrlcted fun(Is Falr value reserve 20 26,036 10,021 279.030 43,041 244,840 43,041 322,Q71 287.881 348.107 297,Y)2
THE WESTERN LOCOMOTIVE ASSOCIATION LIMITED BALANCE SHEET (CONTINUED) AS Af 30 SEPTEIWBER 2023 Thè CAimpaDy 18 enlilled lo the exemplon from the audrt requlremenl (x)nlalned in Sodion 477 of tho Companies Act 20. for the yeaT &nded 30 September 2023. The dIOrS ackntrwledgo their respy)nsibllitlos for tM[AyIng wlh the requir8m&nls of Ihe Companies Acf 20Ce th speCt lo accounting records and the yeparation of fln8n¢lBI stalemenls. The members have not reqUId the company to obtaSn an audit ol its financial stslements lor the year Sn quesiion in accordance wrth sedon 476. Thesè finandal st8temenls have been prepared In accx)rdance with the provisw)ns applic*ble to companS 6tsbl8d lo IhÉ small cornpants regime. D3 Ok lot The financlal $18temen16 Were approved by Ihe TrLFsle68 On ... R Smith Tru8ts6 P Find) Company gIstratIon numb•r 03873466
THE WESTERN LOCOMOTIVE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 A¢¢ounllng poll¢le$ Charity Intonnauon The charity is a prlvale company limlled by guarantee, Incorporatèd in England and Wales. and consequenlly does nol have sharè capital. Each of the trustees is liable lo contribute an #Trunt nol exceeding £1 towards Ihe assets of the charily in Ihe event of liquidalbon. Wèstèm Lrtomollvo AssocABtion Ltd is a prlvale compawry limited by guarantee incorF4)Tal8d In England and W8Fes. The iegi5tered olfictr 1$ S ProsFecl Pla. MIlnIum Way, Pride Park, D6rtJy, DE24 8HG. 1.1 Accountlng convention The financAal Btatemonls have been prepared in accordance with Ihfr charitys goveming document, thè Compan1&$ Act 2c. FRS 102 'The Fiiiancial Reporfing Sland8rd applicablè In the UK and Republlc ol Ireland. l FRS 102.1 and thè Charitles SORP "Accounting and Reporfing by Ch3rllTres-. Slalemenl of Recommended Praclice a1¢able lo ch8ri1ie5 prèpadng Iheii actounls in accorda wlh the Financlal Reporting Stand8rd applk#ble in tho UK and Republic ol IreLgnd (FRS 1021" leflective 1 January 20191, The charrty has taken adntage of the provtslons In the SORP for tharlties not to ppare a Slalement of Cash Flows. The financial slalemenls arè prepaied In slernng, whkh is the functional rIencY of the charity. Monetary *nK)unts in Ih85è ffnancid stalèmenls Are rounded lo the neare61 £. The nanCIal stalemènls have prepafèd under the hisiorical cost convention. The principal a¢unI1nu AideÈ adopted 8re sot wt below. 12 Going concom Al Ihe me ol approwng the financiql statemènts. the Iruslees have a reasonab expectation that Ihg ¢h¥flty has adequaiè resources lo continue In operAlional existencè for the foreseeable future. Thus Ihe trustèès continue to adopt the golng nM basis of accounllTrJ in preparing th& flnancial Stslements. 1.3 ChArftsbltr fund¥ Unr&slrlcled fundg are availèble for use at the discrellon of the Iruslees in fvrtherance Of Ihelr d)arllabl8 objectives. Restrled funds arè sublerA lo Spedfic eonditions by or8 a$ lo how they may u$8d. The purposes and uses of the fftstrl¢t&d funds are sel out In the notes lo Ihe finaniial slal8menls. Endowment funds are subJ'•ct to 8wific conditions by donors th81 the capilal musl be m8intsined by th8 charity. 1.4 Incomfr Incom6 Is r8cognised when Ihe tharity Is legally entit1 lo rt after any pgrforrnance condrfions havè been meL th6 amounts can be measured reliably. and rt Is probable Ihal incojne 11 b8 recÈlvèd. DOna"Onl are re¢ognised when the charity has been notsfi&d in wrillng of bolh the amount and selllement date. In the event Ihal a donation is sUbe¢t lo condilitsns IhÉt rèquire a levèl of portormance by the char tefore Ihe charity i& entiued to the funds, the income Is Llelerred and not recognisèd un1 eilher those conditions are fully mel. or the luifilmenl of those condilions is wholty within the cthitrol ol thè chariiy and it Is Probab Ihal Ihese ¢1110n$ 11 b8 fulfilled irh the r6portSng perlod.
THE WESTERN LOCOMOTIVE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 Accounting pollcles IContinu•d) Leg8ry gift5 are recognisèd on a case by case ba$ls following Ihe granl of probate when Ihe adminlsbytorl exècutor for the estaiè has communile in writing both tho amount and selllement dale. In Ihe event Ih Ihe gill is in the form of 8rTr a5sel other than cash or a financial a5sel liaded on a re¢ognised slo¢k 8xch3ng8, tecognltlon 1$ sLIeCt to Ihe value of the gift being reliab measu[ab wlth a deuree of reasonable accAJracy nd Ihe titte lo the asset hwng b&en tr8nslerr8d to the chariiy. 1.6 Expèndlthrn Expendiluie 18 r8cognisÈd once Ihere Is a legal or constructive oblalOn lo transfer economic benofil lo B third party. il is probable that a transfer of economlc btrnoflts will bè required Sn Settlement, anil the amount of the obligalion can be measured relbably. Expenditure is classnled by 8Ctivify. The $18 of each Acbvity are made up ol th• total of dired cosls and shafed costs. indudSng support cosls invofved in undertaking each acljvily. Dlrect costs attribulable to a singl8 aellvlly are allocated directty lo that aclivity. Shared o)sts which conlfibute to more than one a¢tNiIy and 5UPPOrt ¢o$ls which are not 8llributable lo B single aclivily ale appoTtioned tween th058 acllwlSeg on a basis nsislent wlh the use of resources. Central staff costs ar& alkt81ed on the basss of time spent, and deprec5ab.on charges alloc81ed on Ihè ptsrtk)n of Ihe assèl'$ use. 1.6 Tanglble fixod a8$elB Tangib Iixéd assets art irtitially measured at COBI and subsequently meaSUd al cost or Valuat)n. n81 of depraciation and any impairment b)sses. DÈpr8clalh)n is rA)gnISed so as lo wrlle oll the cost or valu8lion of assèts le6$ their skIu81 values over Ihèlr useful Inies on ihe lolbwing bas¢$.' Fixluras and filtings 10% Tèdudng b8nCe 1.7 Horltsge assets The locomotives aTe consldered lo be hèritage asselB by the Iruslees. An Impairment re•W is conducted each year. Shouhj any impaimi¢nls or movement In Impairment arise from Ihis review. Ihls will be charge(I lo Ihe s181emenl of financlal a¢livilies for Ihe period In whlch il otturs. The Truslees consider the a8sels lo appreaale in walue and therefore that Ihis ac(¥)unling rdicy resvllg in Ihe Financial Stèlements gmng them true and falr vbèw. All tools. components ond equipment are wrfllen off 8t th8 Ilme of purthas8. 1.8 Flxed osset Inv•8tments Fixed asstrl Investments arn Inilolly measurtsd 81 transaCtn price exduding trans8Cti tosls. and are subsequenlty mea8ur¢d at fair value 81 each repoTlin9 dale. Changes In lair value aro recognised in nel incomel{expenditurel lor Ihg year. Transacuon costs are expènsed as incurred. 1.9 ImpAlmient of fSx•d assets Ai each reporling end dale, the charity revlews the (¥rrying omounts ol Ils t¥ngible ass&i8 lo determine whether there is any indication that those assets havè suffered an Impairment k)ss. 11 any such indicatn e51. the recoverab amount ol the as8¢1 is estimated In order lo deleimlne the extent of Ihe Impairment lo8s lrf8ny). 1.10 sto¢k$ Stock% corllwlses of eNJineerlng components, fund ralsing merehandlse for re-sale and locomotive mode[8. Slo¢ks are ved al the l¢)wer of c051 or nel reBlisable v8luÈ.
THE WESTERN LOCOMOTIVE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 Accountlny policies (Continuodl 1.11 Flnancl81 instmmenls The charity has elected lo aprAy Ihe provlsbons of Seclion 11 'BaS Financial Instruments, and Secon 12 'Olher Financlal Inslrumenls Issues, ol FRS 102 to all of its fin8ncial InslTumenls. FlnBncial in$trumenl$ 8r8 recognised in the charilV8 balance sheet when thè ch8rRy becomes party lo th& contractual provisiong trf tho in8lrumenl. Finanal awts and Ilabfjlilies are offset, wdh Ihe nel amounts presentod In the financial si#l8menls, when there is a legally enfoiceable Dght 10 Sel oft the recognised amounts and there is an intention to selllg on 8 nel basls or to realise Ihg asset atKI selue thè li8bllily s1rnultanvouy. Basic fln•n¢lal a55ets Basic financial a8sels. which Include debtors and cash and bank baLqnces, ale inilialty measured al tr8nsaGtion prlce Sncludlng transec1)n costs and are subsequenlty ¢8rried al amorbsed cost using th8 effeclnie Interest method uftless the 8rrangemenl conslilutès 9 financing Iransaclton, whets tho transaction Is measured at the Psent value ol the future receipls discounltsd al a market rale of Interest. Finanaal 8ssels dA8sifle(l a$ receae within on8 year are not amorti8ed. 8Jslc Ilnanelal Ilabllllles Ba financiol liabilities, Indudbng creditors and bank loans Iniliglly TerJ)gnissd al trans8ckn.on w4ce unlèss Ihe airangèmenl constitutes a fi'nanclng transaction. vA)ere the debl Instrument is measured at the present value of the future p3ymenls discounletl al a markèt rale of iniwost Financlal liabllilies classified as pay8L4è wilhln one year are not amorbsed. Debt instruments 9re subsequenlty carrled Al amortkwd cosL using the tffecli¥R interest r81e melhtyj. Trade creditors are obla81?S Iv pay for gl$ or senrfces that have b•#n ae4uired in tho ordinary course of operations Irorll supJrers. Arth)unts payabl8 are eJaslIe as current lia1[8 if payment is due wSlhin on year or léss. If not. 11)ey are presonled as norpcurTenl liabilities. Trade creditors are rewnlsed initially al Iransaction ptice and subsequently measuréd al amorbsed co$1 u$lng the efleclN& Inlerest method. D•r•eognlllon off financl•l Ilbllllles Flnanclal liables are derecognised when the charlty's conlrèclual obligalions expirè or ar& dis¢h81ged or cancelled. 1.12 Toxatlon The chariiy is CnAdOr6d lo pass Ihts lesl8 sel out in Paragraph I schedule 6 01 the Finance Act 2010 8nd therefore it meels the delinlllon of a eh8rilable eompkny for UK corporation tax purposes. Accordingfy, Ihe (*arlly is rK)tènb"a11y exempt from laxailon In lespect ol income or capital gains rétèbjed wSlhin categories covered by Ch8Ptef 3 Part 11 of Ihe CorpK>r3lh)n Tax Acl 2010 or Sèction 256 01 the Taxation of Chargeable Gain$Act 1992, to the extehl thal suth Sncome or gains ar6 applied exclus5vely to charitable purF<sses. Crltl¢•l accounting o¥tlm•tes and Judgèmènts Herétage agsets Tha knomolives aré r6vlewed on an 3nnual basis foi falr value Impsiirnent based on their @xpacled r8811sabie value and esllmales of the future ec¢n¢)mic beneflls allribulable to Ih8m. Managemenl make $Lh estsmalion$ 18king into account IheSr knowledg& of Ihè ¥ssels.
THE WESTERN LOCOMOTIVE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 Don8tlon8 Ind lègacl•$ Unrnstrl¢tsd Unre¥lrfcied tund8 fund8 2023 2022 Strategic donallons and appts$ fvlembètshlp lees General donallon$ Other 10,391 6.545 1S,133 718 1,N2 6,$31 32,787 17.231 Charltsble a¢tlvltlo8 2023 2022 Sales wlthin chgritable aclnrities SVR ¢Jriver erf8nce days 22,945 16,59S 3,200 24,845 19,796 Analysls by lund Unresliicled funds Restricted funds 16,528 3,268 24.845 19.7 Other tr4dlng #ctfvltle8 Unrestricted Unrestricted lund$ fund$ 2023 2022 Mèrchandtse sal8S Raffle ie¢eSpts 17.391 5,625 16.113 5.506 Other trading o¢ti¥ilie5 23,016 21,619 10-
THE WESTERN LOCOMOTIVE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 Investmfrnts Unrestrlcled fund8 Total Unyestrlcted fundi Total 2023 2023 2022 2022 Interest recewable Raislng fund8 Unrestrictod UnYg8trfet fund¥ fund8 2023 2022 ndraisin and Staging lundraSsing èvenl$ 12,210 10,785 12,210 10.785 Char5tsbl& •¢llvlties 2023 2022 Locomolwe expendllure rèstoration and m8lntenance May#zin8 website Other expenses Tools and equipment Carbon offseiting 10,085 2.508 7,134 S.301 181 1,357 14,723 13,906 Share of governarbce rosts Is8e nolÈ Q) 3.452 2,327 18.175 16.233
THE WESTERN LOCOMOTIVE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 Support ¢cts Support Govemanc• costs ¢o$tJ 2023 2022 Dèpreckqlton 780 3% Independenl Examlnèls remurwation Legal and profe956tsnsl Olher resourt*6 expénded 1,898 466 308 1.898 466 308 1.343 628 3,4S2 3.452 2.327 Anatysed bèfvrttn Charflabk actiwlies 3,452 3.452 2.327 10 Trustees None of Ihe trusltres lor any persons ¢onneded wlh Ih8ml T6fved any remunèration or benefrts from Ihe dwrkty dlsrfng the year. 11 Employeè$ The averagè monlhly r)umber ol empbyees during thè year was.. 2023 Number 2022 Numbèr Total 12 Tax•tlon The charfly Is èxèmpt from lax income and gains falling within séction 505 01 the Taxes Act 1988 or sèebon 252 of the laxalK>n of chargeab G8ln$ Ad 1992 to tha axlenl Ihal Ihèse are applb&d lo ils charitable objec18. 12-
THE WESTERN LOCOMOTIVE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 13 Thnglble fix•d a88tts FIKtur08 •nd fittlngs Cost Al 1 October 2022 Addition8 3.807 4,599 At 30 Seplember 2023 B,4 Oepreclation #nd Impèlrment At 1 Oclobpr 2022 Depreciation charged In Ihe year 780 At 30 Seplember 2023 1.386 Carrylng amount AI 30 September 2023 7.020 AI 30 September 2022 3.199 14 Herltage as8et8 At fj October 2022 and •t 30 Septembor 2023 65,000 The fair values ol th& u)mpanYg Locomotives were rèvalued In 2004 by #n Independent valuer, and have Bubsequently been assessed annualty by tho Trustees. Had this dass ol assèt bettn measured on a hislorK81 cost b8s1$. their (¥frylng amount woukl havè bèttn £21,95912022- £21.9591. 15 Flxed asset investmnts UnllBt•d InYestm•nts Cost or valuatlon Al 1 October 2022 & 30 Sept8mb&r 2023 11.L Carrylng omount AI 30 Sepiember2023 11,CQO AI 30 Seplember 2022 11,000 13-
THE WESTERN LOCOMOTIVE ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 16 Stocks 2023 2022 Slocks 96,149 85,762 17 Debtors 2023 2022 Amounts talling du• thIn one year: othèr deblors 17,452 18,C67 18 Crèdltots: amounts lalllng due wlthln onè year 2023 2022 Trade rxeditors AC(alS and deferred income S9S 1.695 1,0 1,250 2.290 19 Reremont b•nellt 5chem98 The chaiity operates a defined conlrlbulion penslon scheme for ail qual$ng amoYees. The assets of the 8cheme a held $8paTalety from thos& of Iha ¢haity in an independ¢nlty administereii fund. 20 R¢¥trlct•d funds The Incom& funds ol the thadly in¢lude restiiGtsd fundg comprlsing thè following unexpendod balances ol don8lK)ns and grants held on Irusl lor spé¢Sfl¢ POSe5.. Movement In funds Incomlng rnsaurcg81 OctobBi 2022 Movttment In funds Incorniny Yagourc•¥ 30 SePtbar 2023 l Octob6r 2021 01013 bogie overhaul 8.753 3,268 10.021 16,015 26.036 21 RèlAtsd party trans8etlor There were no dlsGfos8L4e related party trbns8cbons durlng the year {2022- nonè). 14-