Chftrlty regis￿tion numb*r 1116068
Compony r*yl$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 Se￿ice5 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 charIt￿S 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￿[ operal￿On by British Rail. The Assodalbon was honourèd lo be gified locomoti￿ D1048
stèrn L8dy on Septembèr 2023 and allhwgh coM￿ete. the IoLxmolive will recelve a full o$sessment to
detemiine how be81 lo preserve the lo(Jynotive for luiuiè yaars.
The Charity's woth focusBgS on the preseivBtion, mainienan¢e and operdlKJn of Cbss 52 Dlesel Hydraull¢
locomtsllves to promotts lh& education of the history of such I0￿MOtive$ 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 a￿￿tIeS the
charity should undertakè.
A¢hl•v8ments attd p•rforni•nc•
During 2023, The Western Lo(J)ftTh)liv8 Associal￿)n Ltd I￿Al manayed lo achTreve another record yeai in tem)s ol
Income. ￿$￿IlIng in reojrd lund balances al £348k. This was wainly H¢h￿ed Ihrough u)ntinuing wlth a high level of
Income in all areas ￿VerIng donat4ons, sales and opèrab'ng ineome. whKh in lolal, were up by over È22k or 37.6%.
Expenditure h8s beèn (arefulty managed. resulllng In an increase in funds ollusl over £50k.
Ouring 2023. the ￿AWa8 Proud 10 eèbbrate D1062'8 6(W Birthday on 6th M8y and the locomotive wènl on 10 cover
all ils operatlng days lor Ihe Season, with 100°k avail8bihty. Whh 01048 b￿ng gifted lo Ihe Association, 311 Ih
locomotives part￿1pated tho Sevem V8116y RaIlwa￿S hKJh profil& Aulumn Dlesel Bash. wilh bolh D10fj3 and
D1048 on dlspLay and following ￿11 ext8mal repaints. A5 A ￿nSequenCe of mLth puUiclty durfng Ihe year, the
A's mtsmbership incrèased by over 30% 10 m8mbers.
Thè WLA was ablè lo maintain Its Ca￿on neutral 8l¥tu$ 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 L*mpored 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$h￿l 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 sign4￿re 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 art￿￿S 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 financ￿1 $lal¢menls of The ￿SleM Loe4)molN8 Assodalbon
Limitod Ilhe ch8rilyl lor the year ended 30 Septembèr 2023.
Respon81bllltlo8 and basis of rnport
As the Irusieos of thè tharily land also ils dliectofs lor the PUTposes of company law) you are re6ponsible for Ihe
preparall¢)n ol the finanaal slalemenls in occordancé wllh the rÈ4uirern8nls ol the CompEnies Act 2￿ Ilhe 20C6
Act).
Havlng Satisfied myself Ihal the flnancial slalèmenls of U)È charlly arè nol ffjquired lo be audlled under Part 16 of
the Ad and are digible lor Indèpendent examinalK)n, I report in respect ol my oxamination of the chaiSty'8
flnan¢Lql slalemenls carried out under sectbn 145 01 U)e Chaiilies Act 2011 (thè 2011 Act). In Cafrying out my
ex8min*r'on I have lolk)wed all th8 app1kab￿ Directions glv6n by Ihe Charity &%nml8$lon under secti￿ 14515)Ibl
of Ihe 2011 ACL
Indèp8ndont examinèrf8 statsment
I have CoM￿e1ed my ex8minalon. l eonfim) Ihat no matters have come lo my all4nllon in CO￿r￿CtiOn 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 Be￿UntIng ¥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 wh￿h 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
Charita￿e 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
chari18￿e acti￿118$
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 y*irl
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
S*ptèmbeY 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 eXF*nditur& deriv8 from conllnylng actimlies.
The slalem8nl of fin8n¢id adThI￿eS also comrAiÈs wth thts roquirements for an intt*me #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
18,1￿7
117.220
267.377
221.049
CTrdltors: amounls f8lllng due wlthln
one year
18
12.2901
12.3461
Nel cUr￿n1 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 dI￿￿OrS ackntrwledgo their respy)nsibllitlos for t￿M[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 reqUI￿d 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 compan￿S 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 #Tr￿unt 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￿. MIl￿￿nIum 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 a￿￿1¢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 ad￿ntage of the provtslons In the SORP for tharlties not to p￿pare 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 ￿n￿M 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.
Restr￿led funds arè sublerA lo Spedfic eonditions by ￿￿or8 a$ lo how they may ￿ u$8d. The purposes and
uses of the fftstrl¢t&d funds are sel out In the notes lo Ihe finaniial slal8menls.
Endowment funds are subJ'•ct to 8wific conditions by donors th81 the capilal musl be m8intsined by th8
charity.
1.4 Incomfr
Incom6 Is r8cognised when Ihe tharity Is legally entit￿1 lo rt after any pgrforrnance condrfions havè been meL
th6 amounts can be measured reliably. and rt Is probable Ihal incojne ￿11 b8 recÈlvèd.
DOna￿"Onl are re¢ognised when the charity has been notsfi&d in wrillng of bolh the amount and selllement
date. In the event Ihal a donation is sUb￿e¢t lo condilitsns IhÉt rèquire a levèl of portormance by the char
tefore Ihe charity i& entiued to the funds, the income Is Llelerred and not recognisèd un￿1 eilher those
conditions are fully mel. or the luifilmenl of those condilions is wholty within the cthitrol ol thè chariiy and it Is
Probab￿ Ihal Ihese ¢￿￿1110n$ ￿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$ls following Ihe granl of probate when Ihe adminlsbytorl
exècutor for the estaiè has communi￿le￿ in writing both tho amount and selllement dale. In Ihe event Ih
Ihe gill is in the form of 8rTr a5sel other than cash or a financial a5sel liaded on a re¢ognised slo¢k 8xch3ng8,
tecognltlon 1$ sLI￿eCt 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 obl￿al￿On 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$elB
Tangib￿ Iixéd assets art irtitially measured at COBI and subsequently meaSU￿d al cost or Valuat￿)n. n81 of
depraciation and any impairment b)sses.
DÈpr8clalh)n is r￿A)gnISed so as lo wrlle oll the cost or valu8lion of assèts le6$ their ￿skIu81 values over Ihèlr
useful Inies on ihe lolbwing bas¢$.'
Fixluras and filtings
10% Tèdudng b8￿nCe
1.7 Horltsge assets
The locomotives aTe consldered lo be hèritage asselB by the Iruslees. An Impairment re￿•W is conducted
each year. Shouhj any impaimi¢nls or movement In Impairment arise from Ihis review. Ihls will be charge(I lo
Ihe s181emenl of financlal a¢livilies for Ihe period In whlch il otturs. The Truslees consider the a8sels lo
appreaale in walue and therefore that Ihis ac(¥)unling rdicy resvllg in Ihe Financial Stèlements gmng them
true and falr vbèw. All tools. components ond equipment are wrfllen off 8t th8 Ilme of purthas8.
1.8 Flxed osset Inv•8tments
Fixed asstrl Investments arn Inilolly measurtsd 81 transaCt￿n price exduding trans8Cti￿ tosls. and are
subsequenlty mea8ur¢d at fair value 81 each repoTlin9 dale. Changes In lair value aro recognised in nel
incomel{expenditurel lor Ihg year. Transacuon costs are expènsed as incurred.
1.9 ImpAlmient of fSx•d assets
Ai each reporling end dale, the charity revlews the (¥rrying omounts ol Ils t¥ngible ass&i8 lo determine
whether there is any indication that those assets havè suffered an Impairment k)ss. 11 any such indicat￿n
e￿51￿. the recoverab￿ amount ol the as8¢1 is estimated In order lo deleimlne the extent of Ihe Impairment
lo8s lrf8ny).
1.10 sto¢k$
Stock% corllwlses of eNJineerlng components, fund ralsing merehandlse for re-sale and locomotive mode[8.
Slo¢ks are v￿￿ed 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 Sec*on 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.
Finan￿al 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 s1rnultanvou￿y.
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 P￿sent value ol the future receipls discounltsd al a market rale of Interest. Finanaal 8ssels
dA8sifle(l a$ rece￿a￿e 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 obl￿a81￿?￿S Iv pay for gl￿￿$ or senrfces that have b•#n ae4uired in tho ordinary course of
operations Irorll supJrers. Arth)unts payabl8 are eJas￿lIe￿ as current lia￿1[￿￿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 Il*bllllles
Flnanclal liab￿￿les are derecognised when the charlty's conlrèclual obligalions expirè or ar& dis¢h81ged or
cancelled.
1.12 Toxatlon
The chariiy is C￿n￿AdOr6d 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 $L￿h estsmalion$
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,$31
32,787
17.231
Charltsble a¢tlvltlo8
2023
2022
Sales wlthin chgritable aclnrities
SVR ¢Jriver e￿rf8nce days
22,945
16,59S
3,200
24,845
19,796
Analysls by lund
Unresliicled funds
Restricted funds
16,528
3,268
24.845
19.7
Other tr4dlng #ctfvltle8
Unrestricted Unrestricted
lund$
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 ¢c￿ts
Support Govemanc•
costs
¢o$tJ
2023
2022
Dèpreckqlton
780
3%
Independenl Examlnèls remurwation
Legal and profe956tsnsl
Olher resourt*6 expénded
1,898
466
308
1.898
466
308
1.343
628
3,4S2
3.452
2.327
Anatysed bèfvrttn
Charflabk actiwlies
3,452
3.452
2.327
10 Trustees
None of Ihe trusltres lor any persons ¢onneded wlh Ih8ml T6￿fved any remunèration or benefrts from Ihe
dwrkty dlsrfng the year.
11 Employeè$
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 Re￿remont b•nellt 5chem98
The chaiity operates a defined conlrlbulion penslon scheme for ail qual￿$ng am￿oYees. 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¢ P￿￿OSe5..
Movement
In funds
Incomlng
rnsaurcg81 OctobBi 2022
Movttment
In funds
Incorniny
Yagourc•¥ 30 SePt￿bar
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-