Charity registration number 1115058
Company regSslratlon numljer 03873466 (England and Wale51
THE WESTERN LOCOMOTIVE ASSOCIATION LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

THE WESTERN LOCOMOTIVE ASSOCIATION LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trusto0s
R StNilh
D Shelrnerdine
I Clayton
M Targett
Sg¢rgtary
I Clayton
Charity number
1115058
Company numb8r
03873466
Prln¢lpal addro$$
S8v8rn Valléy Railway
Bridgnorth
Shropshire
WV16 SDT
Rogl$lgrgd oHI¢g
5 Prospect Place
Mill&nniurn Way
Pridè Park
Derby
DE24 8HG
Ind9￿nd#￿t •xamln•r
Asbgales CorpDrale Services Litnile¢
5 Prospect Place
Millenniurn Way
Prlda Park
Darby
DE24 8HG

THE WESTERN LOCOMOTIVE ASSOCIATION LIMITED
CONTENTS
Page
Trustees. Ipport
Ind8p8ndent exatnlner's report
Stslemenl of financial activlties
Balance sheet
Noles lo the flnan¢lal 81al8m8nl8
7-15

THE WESTERN LOCOMOTIVE ASSOCIATION LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 30 SEPTEAIBER 2024
Th8 Irust88s pr8sent Ih8ir annual report and financial statements lor Iha y8ar end8d 30 September 2024.
The fin8nei81 ststemeni$ have been prepared in 8c¢ord8n¢e with the 8¢¢0unb"ng poli¢ies set out In the note to Ihe fin8n¢lal
slatetnenls and cotnply wilh the charity's governing document. the Cornpanies Acl 2006 and 'Accounb"ng and Reportsng by
Charilies. Slatetnent of Recomfflended Practi￿ applicable to chaiitie5 preparing their accounts in accordance ￿th th&
Financial Reporting Standard applicable the UK and R8public ol Ireland IFRS 1021" leff8cllve 1 January 20191.
Objectives and activitie
The charlly'$ oble¢tiVgs are th8 proservallon of Ils horltag8, Cla88 52 Dle881 Hydraullc locomollves D1013 We$l¢rn Ranger,
D1048 Weslem Lady and D1062 Iveslern Courier on the Severn Valley Railwoy. whilst rnaintaining 01013 and D1062 to al
least the standard achieved by the fomier British Railways, Weslem Region a￿1 fit lor rnain line running, dead in tow.. In
additlon to thg Char￿Y'S rgsorvallon work, th¢ Charlly promol$s Ihfr 9du¢allon of the hlslory of such locomotives lo tho publ1¢.
The Charity's work fo¢ussès on the preservation, maintenancè and op8ralion of Class 52 Dièsel Hydrauli¢ locomotives lo
promote Ihe educafr'on of the history ol such locomotives to the public.
Th8 trustees conflrm th91 they hav8 complled wlth the requSrem8nts ol Sectlon l T ol the Chamlles Aci 2011 to have due
regard to the public benefit guidance published by the Charity Commission for England and Wales.
The trustees have paid due regard to guidan￿ issued by the Charity Cornmisson in deoiding what activities the charity
should undertake.
Achievement5 and perforrnance
During 2024, The W&818rn Lo¢omoliv8 A8SOCi81ion Ltd {WLAI managed 10 8¢hi&ve anolh&r record year in ltsrms of incom8,
resulting in record fund balances at £822,255. This was mainly achieved through continuing wilh a high level of income In all
areos covenng donations, soles and operotr'ng incomp, vihich in total, were up by over £6.6k or plu$ 6.6Ih. Whilst expenditure
has begn carefully managed, gxpendilure incrgasgd lo allow lor the purchasg of $pg¢ially manulaclurgd parts lor D1013'5
bogie overhaul. As a result, nel income was down by 11.1 % al £39.1 k.
During 2024, the WLA was proud 10 celebrate ils 50th anniversary #l Swindon's STEAM museum. with soffle 120 members
present. The WLA conbnues to be run by the Board and Management Committee and during tre year, a new p05ilion of
Fundral$lng Off1¢9r was crgaled ond 1111gd, whlch wos sub$9quonlly endors¢d at th9 AGM. D1062 opgratgd Ihroughoul Ihg
year with a 98¥0 availability record, whilst D1013 was finally lifted lor the first lirne in 50 ye3rs, lo allow the bogie overhaul lo
proceed. Sorne initial preservation work was undertaken on D1048, which rnainly focussed on the electrical systems to make
sure that the I¢Kornollve was safe Io LJSe, when conne¢led lo a shore supply. Followlng much publlclly durSng the year, Ihg
WLA'S tnembership Inu8ased by a further 30Yo lo over 540 mernbe"s.
The WLA was able lo rnainl8in ils carbon ngulr81 slalus 8nd now has over 400 Ileas pl8nlod since 2021, suppOr￿n9 the Tre88
for Life's For851 Revital'sation Propcl, located in the Highlands of Scotland.
During thg year. Ihe Board ¢onlinugd to work in conjunction with the Man8gemgnl Commill99, holding 1hrg8 Board maelings
and Ihree Mar)agem8nl Comtniltee meetings.
The WLA is grateful lo tho conlinugd valuable support from ils Membtsrship, Working and Cornmill89 Membars.
Flnanclal revlew
Tho total incoming rèsourc8s for thè yaar ￿r0 £87k- £6k mora than 2023. M8intènanee and ov8rh8uI spand increasèd thi$
year lo £23k cotnpared to the 2023 amount of £10k. Cash reserves remain substantial at £166k as al 30 Sept8rnb8r 2024.
It is the poli¢y of the ch8rity to hold fin8ncial reservès of ai16asl £10,000 al all lime8. As al 30 Septèmber 2024 the charity
held free reserves of £304,827 pl￿% a lair value reserve of £478,041.

THE WESTERN LOCOMOTIVE ASSOCIATION LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEAIBER 2024
Th8 Irust88s have assessed th8 rnaior risks to which the charily is 8xposed, arKI ar8 5atis118d that Sy5lems are in plac8 to
rnitig8te exposure to Ihe major risks.
Slrucluro, gov¢manu and managgm9nt
Natur• of govemlng document
The charity Is a company limited by guarantee, incorporated on 9 November 1999 and registered as a charity on 4 July 2006.
The company was &sl8blishgd under a Memorandum of Association which oslablished the objects 8ncl powors of Ihg
charitable company and is gov8med by its Articles of Association.
The trusletss, who are also the directors lor the purpose of company law, and who served during the ye8r and up to thè dale
of signature of th& financial $talernenl$ were..
R Smith
D Shelmerdine
I Clayton
P Finch
l Targett
Recruitment and appoirttmènt of tru8te•*
The Directors ol Ihe cornpany are also trustees for the purposes of charity law and under Ihe cornpany's articles are known a5
Members ol the Council. The governing board wnsisis ol o Board of Truslpes who ore appoinlod al tt)¢ Annuol Genero1
Meeting and r?tire by rotation every Ihree yg£r5, Reliring mgmbers are gligible lor rg-elgclion.
The Iru8lees' report w88 approved by Ihe Board ol Trustee5.
R Smith
Trustee
P Finch
Tru8t••
1 April 2025

THE WESTERN LOCOMOTIVE ASSOCIATION LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE WESTERN LOCOMOTIVE ASSOCIATION LIMITED
I report lo the tru5tee5 on rny 8xaminalion of lh8 financial stalem8nt5 01 Th8 W8Stem LocotnotlV8 As50ciats'on Liffliled Ith8
charity) for the year ended 30 September 2024.
Ro$pon$lbllltl&$ and b¥sl$ of roport
As Ihe trustoes ol tho charity land also its directors for the purposes of company lawl you aro responsibla for the pr8paration
ol the financial statements in accordanc8 with the r8quirom8nt5 01 the Companies Act 2006 Ilhe 2006 Act).
Having satisfied myselllhal Ihe financial slalemenls of the charily a￿ not required Ir> be 8udiled undèr Part 16 rf the 2006
Ad and are eligible lor independent exarninalion, I report in respect of my examination of the charity's linanoal statements
carried out under section 145 01 Charities Act 2011 Ilhe 2011 A¢tl. In carrying out my examination I have followed all the
applicabl& 01r￿￿.￿n$ gDi¢n by Ihg Charity Commission undor Sec￿0n 1451511bl of Ihg 2011 Act.
Ind•p•nd•nt •xamln•r's stat•m•nt
I have completed my 8xarnlnalion. I conllrm that no rnallgrs have corn8 lo my atlentlon In conn8cllon wllh th8 8xamlnallon
giving me cause lo beliave that In any material r8SP8cI'.
accounting records were not kept in respect ol the charity as required by section 386 01 the 2006 Act; or
the financial statements do not ac¢ord with those records., or
the fir)anclal stal8ments do not comply with thè acixjuntlng r8qulr8ments of section 396 of th8 2006 Act othèr than any
requirernenl that the aceounts give 8 true and lair wew which is not a mailer considered as part 013n independent
examination., or
the financial stalernent5 have nol been prepared in accordance with the methods and principle5 01 Ihe Stalernent of
Recommende¢ Practlce for a¢￿VntIng and reportln9 by charSbes appllcable 10 ¢harllSes preparlng Ihelr a¢¢ounls
¥¢wrdance wilh the Fin¥n¢ial Rgportino Standard applicable In Ihg UK and Rgpubli¢ ol Ireland IFRS 1021.
I have no concerns and have come across no other matters in conneC￿.0n wilh the examination lo which attention Should be
drawn in thi$ report in ord¢r to gneb19 a propor understanding of thg financial slalgments to bo rga¢hod.
Gavln Robert Booth
AJhgate# Corporate S•rvlc•s Llmlt•d
5 Prospacl Pla¢
Nlilleniiium Way
Pride Park
Derby
DE24 8HG
Daitsd,. l April 2025

THE WESTERN LOCOMOTIVE ASSOCIATION LIMITED
STATEMENT OF FINANCIAL ACTtVlTIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Unrestricted
fur)d5
2Q24
Re5trictsd
funds
2024
Totsl Unrestricted
fuiit15
Restricted
furids
2023
Total
2024
2023
2023
Income from:
Donalions and lega¢ioS
Charilab18 ￿lIVI￿&S
Other trading activ￿.eS
Investrnents
29,491
10,885
31,139
2,184
29,491
24,236
31,139
2,184
32,767
8,830
23,016
68
32.787
24.845
23,016
68
13,351
16,015
Total Incomè
73,699
13,351
87.OSD
64.701
16,015
80.716
•ndltur• on:
Raising funds
11,386
11,386
12,210
12,210
Charilablg ￿tIV￿.8S
36,402
36.402
18,175
18.175
Other
114
114
126
126
Total expendlture
47,902
47,902
30,511
30,511
N•t Incomlng r•sourc•8
25,797
13,351
39,148
34,190
16,015
50.205
Othèr r•eognls•d galn8 and 1088•8
Revaluats'on ol tangibl8
fixed assèts
435,000
435,OOD
Net movempnl In fund¥
460,797
13,351
474,148
34,190
16,015
50.205
Fund balances al 1 Oclober 2023
322,071
26,036
348,107
287,881
10,021
297,W2
Fund balances at 30 September
2024
782,868
39,387
822.255
322.071
26,036
348,107
The slalÈmenl of finanei81 aetivlti81 includes all 98lns and losses reeognised In thè year.
All income and expenditure derive from conb'nuing activilies.
The staternenl of financial activities also complies wilh the requiremenls for an income and expenditure account under the
Companlès Act 2006.

THE WESTERN LOCOMOTIVE ASSOCIATION LIMITED
BALANCE SHEET
AS A T 30 SEPTEMBER 2024
2024
2023
Notes
Flx•d ass•ls
Tangible assets
Heritage assets
Investrnenls
13
14
15
9.113
500,000
11,000
7.020
65,(KKI
11,Q)O
520.113
83,020
Curr•nt a$$•ts
Stocks
Debtors
Cash ai bank and in hand
16
17
132.545
22,159
165,608
96,149
17.452
153,776
320,312
267.377
Crndllor8: amounts falllng du• wlthln on•
y•or
118,1701
12,2901
Net current assets
302,142
265.tX87
Total assets less current liabilitieB
822,255
348.107
In¢omg funds
R8strf¢ted fund$
General unrestri¢ted funds
Fair value ros8Ne
20
39,387
26,036
304,827
478,041
279,030
43.041
782,868
322,071
822,255
348.107

THE WESTERN LOCOMOTIVE ASSOCIATION LIMITED
BALANCE SHEET {CONTINUED)
AS A T 30 SEPTEMBER 2024
Th8 cornpany is en(￿ed to the 8Xetnption frorn lh8 audit requiretn8nt contain8d in section 477 01 the Companies Act 2006, lor
the year ended 30 September 2024.
The tlira¢tors acknowl￿jge their re$ponsibil1ti88 lor complying with th& requir&tnents of the Companies Act 2006 with respect
to accounting records and the preparation of linanaal statements.
Tha membèrs hava not r8quir8d thè cornpany to obtaln an audit of its flnanclal slat8mènts for tha yoar in quostlon Sn
accordanc8 wilh s&clion 476.
These financial stalernenls have LEen prepared in a¢cOrdan￿ with the provisittn$ appli¢able ID companies subject lo tho
small eornpaniès r8gim&.
Thè Ilnancial slatemènts werè approved by the Trustèès on 1 April 2025
R Smith
Tru$tg9
P Finch
Tru$tso
Company règl8tratl¢n numbèr 03873466

THE WESTERN LOCOMOTIVE ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEAIBER 2024
Ac¢ountSng pollcle8
Ch8rity infowmation
Th8 charity is a priva1@ company Ilmit8d by guarant88, Incorporat•d in England and Wales, and cons&quently do8s not
have share capi131. Each of Ihe tru51èès Is liabl8 to conlrfbutè an arnount not 8XC88dlng £1 towards Ihe a558ts ol the
charity in the event of liquidab"on.
Wf*ql8rn Lor.nm(Jtivp A8w.iatinn Ltd 18 a priva1& e.nmpany limitad by lncarpnra1￿cl In England and WAlf*s_
The registered owice is 5 Prospecl Place, Millennium Way, Pride Park, Derby, DE24 8HG,
1.1 Accountlng conventlon
The financi81 slaiements ha'ie been prepa￿d in 8ccord8n¢e with Ihe th8ri1y's governing do¢umenl, the Companies A¢1
2006. FRS 102 "The Financial Reporting Siandare applicable in the UK and Republie ol Ireland" I'FRS 102.1 and the
Charities SORP 'Accounting and Rep(xling by Charities.. Slatemenl of Recommended Practice applicable lo charities
proparlng Ihelr accounts in 8c¢ordan¢8 with the Finandal Reportlng Stsndar(l applicable In Ihg UK and Republlc of
Ireland IFRS 102118ffectiv8 1 January 20191.
Th& ¢h8rlly has taken advantage of tho provlslons In the SORP for ¢harllles not lo prepare a Slalemenl of Ca8h Flow8.
Th8 financial slalements ar6 prepared in s16rfing, which is the functional currency ol the charity. Monetary amounts in
Ihès$ ffinancial slatements we rounded to the nearesl £.
Thftr Ilnanrial slal*monls hav8 pr*parf*d undf*r lh8 hi$lnrfral cnst c.nn￿n14￿n. Th• princ.Ir>al ar.rnunllng pnllcl8*
adopl?d are set out below,
1.2 Golng conc•m
Al the tirn8 of approving the finan¢i81 slalttmènls, thè trusl86s have 8 re8s0nabl8 8xptsctallon that the chailty h88
adequate resources lo continue in operational existence lor the foreseeable future. Thus the Irusl8es conbnue to adopt
thè goin9 concern basis of 8ccounting in preparing the financkql stalemenls.
1.3 Chorllobl& fund$
Unreslriclèd funds ar8 avallabl8 for use at tha dlscrètlon of thè trusl88s In furth8ranc8 of thelr tharltable obl8ctlv&s.
Restricted lund8 are subject to specrfic conditions by donors as to how they rnay be used. The purposes and uses ol
Ihe reslrioled fU￿S are sel out in the notes to the financial statements.
Endoivmènt funds are subl*ct to sp#cllic condltions by donors that th8 rapltal must b• malntaln#d by th& charfly.
1.4 Incorne
Incorne is recognised when th8 charity is legally entitled lo it after any performance conditions have been m81, the
amounts can bo measured reliably, and il is probable that income will bo receivod.
Donations are recognised then the charity has been notified in wriling ol both the wnount and seltlemenl date. In the
event tral a donation is subject lo conditions that require a level ol performance by rhe charity before the ¢harily is
enliued lo Ihe funds. the income is deferred and not recognised until eilh&r those c￿￿1110￿8 are lully rnel, or Ihe
fullilment ol those conditions is wholly within the control ol the charity and il is prob3ble that these condilicns will be
lullllled In the reportlng pedod.

THE WESTERN LOCOMOTIVE ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEAIBER 2024
A¢¢ounting policies
Icontinutdl
Lego¢y grfts are ￿CogniSed orn 8 ¢88e by case b8$is follov4ing the gr8nt of probate when the 8dmini$tr8ttsrle%eeutor for
the estate has comtnunicaled In writing both the atnount and seltlemenl dale. In the event that the gift Is In the fom ol
an asset olher tIHn rash or a financial asset traded on a reciyJnised stock exchange, recognition is 5ubjeet to the valua
ol the gift belng relSably rneasurable wllh a d8gre8 01 reasonable accuracy &nd the 11118 to the asset havSng been
transfsrred lo the charity.
1.S Expondliur•
Expondllure is r&ognlsgd once there Is a legal or¢onslructlve obllgadon lo Ir8n$l6r gconomlc ben8111 lo a thlrd paty,11
is probable that a transfer ol economic benefi'ts will be required in 8etU8ment, and the arnount of th8 obligation can b8
measured reliably.
Expenditure Is classili8d by 8clivity. The costs of eath aclivrty are rnade up of the total of direct costs and shared cosls.
inc4uding suppot1 costs involved in underlaking each aclivity. Direct costs attributable to a single activity are allocated
diredy lo that activity, Shaiad Costs which ¢onlribule lo more than one 8¢tivily ancl support ¢0$18 which 818 nol
attributable to a single aclivily are appartioned between those acts'vities on a basis cx)nsisl8nt with tho use ol resources.
Central staff c051$ are allocated on the basi5 of time spent, and depreciation charges are allocated on the portion ol the
assel's usb.
1.6 Tanglblg nxod a580ts
Tangible fixed aosets are initially m8asured al cost and subsequenly measured al cost or valuatlon, n8t ol depreciation
and any impairment losses.
Depr6cialion is r&cognised yo as lo writo off tha ¢08t or valuation of a8$81s18ss Ihgir residual values ovar ih8ir useful
lives on the following base5'.
Fixlur8s and fittings
10 /0 reducing balanc8
1.7 Horltsgo 0$$•ts
The lowtnolives are considered lo bg herrtage assets by the tru51e95. An Imp8irmenl review is GonduGled e8Gh year.
Should any imp3rrnen15 or movement in impairment arise trorn this review, thi5 will be charged to the 51alernenl ol
financial activities lor th• p8riod in which il occurs. Th8 Trusleos considar th8 ass8ts lo appr8cial8 in valué and
th•refor# that this accoiinting poliw r•$Lill$ In th# Financlal SlJl8m•nls glvlng th8m a true and lair vlaw All tools,
components and equipment are written oll al the time ol purchase.
1.8 Flxed assot Inveslment5
Fixed as58t investments are initially measured at transaction price excluding transaction costs, and are subsequently
measured al lair value at e￿h reportin9 dale. Changes in lair value are recognised in net incomellexpenditur21 lor the
year. Transaction cost$ arè expénsttd as ineurrèd.
1.9 Impalrmgnt of flxod assots
Al each reptsrting end dale, the charity reviews the carrying amounts of its langible assels lo determine whether there
18 any indication Ihal those assets h8ve suffered an irnpairmenl loss. 11 any such indication exists. tre recoverable
amounl ol the asset is estimaled in order lo delemiine the extent of the impairment loss lif anyi.
1.10 St¢¢k$
Slocks cornprise5 of engineering cornponents, fund raising merchandise for re-sale and locomotive models. Stocks are
V¥lued at the I0￿￿r of cost or net reaiisable value.

THE WESTERN LOCOMOTIVE ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEAIBER 2024
A¢¢ounting policies
Icontinutdl
1.11 Finaneithl in8trumentJ
The charity has elecled to Bpply the provisions of Section 11 'Basic Financial Instruments, and Section 12'01her
Financial Instrurn8nts Issues. of FRS 102 to all of its linan¢ial inslrumenls.
Financial instruments are ￿cOgnised in the charit> s balance Sheet when the charit￿. becomes party to the contractual
provisions of thg instrumgnt
Financial ossets and liabilities a￿ offset, with tho nel omounts presented in the financial stalemenls, when there is a
legally 8nforc8ab18 right to $81 off the iecognisgd arnounls and Ihgrg 1$ an int9nlion lo sell18 on a nel basis or lo r8ali$g
the asset and seiiie the liablity sirnultaneously,
8aslc flnan¢lal assets
Basic fi'nancial assets, whieh include debtors and cash and bank balanees. are initi£lly messured al transaction prie8
indiiding transaction costs and are subsequently carried at amortised cost using th& effective interest method unless
Ihe arrangemenl constitutes a financing transadion, where the Iransaclion is measured 8t the present value of the
future receipts discounted 81 a rn8rkel rate of inl8r&sl. Financk818ssels classrfied as ie¢eivablè wthin on8 y9ar ale not
amortlsed.
8aslc nnan¢lal Il&blllrl&s
Basic financial liabilitias. including cr8ditors and bank loans ai• initially racognisad al transaction prica unlass th8
a￿ange[nent constitut85 a financing transaction, ￿here th8 debl instrumenl is measured at the pres8nt value ol the
future paymgnt5 di5countgd it a m¥rk8t rot? of interest. Financi81 liabiliti9$ ¢lassified 85 pgyable within ong ygor ¥r9 ng1
amortisod.
Debt instrumen15 are subsequently carried al arnortised cost, using the effective interest rale method.
Trade crèdltorg are obllgatlons to pay for goods or sèNices that hav8 bè8n acqtjired In the ordlnary coursè ol
operations from suppliers. Amounts payable are cLassilied as current liabilities il payment is due wrthin one year or less.
If not, they are presented as non-currenl liabilitl8s. Trade cr8dilors ar8 r8cognlsed inllially al tran8a¢iion price and
sub4eqiJgntly rneasijrpd at amortispd wst using ltrie effective interest rnelhod.
D•r•coqnlllon of flnanclal Ilabllltl•s
Finan¢lo1 Ilobililics are derc¢agnised when the ehtrity's eontrodual obligations expirc or ore diseharged or eaneelled.
1.12 Taxatlon
The charity is considered to pass the tests sel uut in Paragraph 1 schedule 6 01 the Financts Ad 2010 and Iherelor811
mèot6 tha d$finition of a ¢harilgbl¢ cornpany for UK eorporatlon tax purposos A¢¢ordingly, thè chority 16 potontiolly
ex8mpt from taxation in r8sp8ct of incomo or capltal gains racelvtrd wlthin cat8gorios covared by Chaptor J Part 11 of
Ihe Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Attt 1992, to thè •xl•nt ihat such
Incorno or 98ins 8re applied exclusivel). lo charitablo purp05e5.
Crltlcal a¢¢oundng g$tlmatg$ and ludggmgnts
H&rit8ge assets
Thè locomollves aré rtrvlewed On an annual basls for fair valu8 irnpalmenl based on Ihtrir expeetèd realisable value
and e5timat8s ol the future econornic benefits allributable to trem. Managernenl make such estimations taking into
account their knowledge of Ihe assets.

THE WESTERN LOCOMOTIVE ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEAIBER 2024
DonatSon3 and le9acles
Unrestricted Unr•9trictèd
funds
lunds
2024
2023
Straiegic donaiions and app6a18
Membership fees
General donations
Oth&r
10.391
6,545
15.133
718
10,355
19,136
29,491
32,78T
Charltsblo act1￿11•8
2024
2023
Sales wrthin chaiilab16 a¢livilie$
SVR driv8r experiencè days
21,836
2,400
22.945
24,236
24.845
Analysis by fund
Unreslri¢led fund8
Restricted funds
10,885
13,351
8,830
16.015
24,236
24.845
Othew treding Activities
Unroslrlcled Unrèstrlct&d
funds
lundg
2024
2023
Merehandise sale8
Raflle receipts
28,648
2,491
17,391
5,625
Other trading 8cbvities
31,139
23,016
10-

THE WESTERN LOCOMOTIVE ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEAIBER 2024
Investments
Vnrèstricted
funds
Total Unr•9trictèd
lunds
2024
2024
2023
Intere81 re¢elvabl8
2,184
2,184
68
Ralslng funds
Unr•8trlcl•d Unr•#trlct•d
funds
lund8
2024
2023
Fundrf*isin
and ublicit
Slaglng fundra15hg even15
11,386
12,210
11,386
12.210
Charbtable actlvltSeB
2024
2023
Lo¢omotlvè expenditure restoration and m8intenance
Magazine and websile
Other 8xpenses
Tools and 8quipment
Carbon offs8ltinq
22,739
4,605
1,825
2,137
304
10.(A5
2,S)8
469
1,357
31,610
14,723
Share of governance cosls Is8e note 91
4,792
3,452
36,402
18.17S
11

THE WESTERN LOCOMOTIVE ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEAIBER 2024
Support costs
Support CO8t& Governance
coot5
2024
2023
Depreciation
1,012
1,012
780
Indgpbndent Examin&rf6 remuneralion
Legal and professional
Other resources expended
1.408
1,839
533
1,408
1,839
533
1.898
466
308
4.792
4,792
3,452
Analysèd b8tw88n
Charitable activities
4.792
4,792
3.452
10 Trust?ei
None ol Ihe trustees lor any p8rsons connecled with Iheml received any remun8ration or benefit8 frorn the charity
during the year.
11
Employ••s
Th8 av8rag• monthly number ol employ885 during tho year wa$..
2024
Number
2023
Number
Total
12 Taxation
The charity is exempt from lax on income and gains falling within Section 505 of Ihe Taxes Act 1988 or section 252 01
the laxotion ol Chargeable Gains A¢t 1992 to the extent th¥t thes¢ are appliod lo its ¢harilable objects.
12-

THE WESTERN LOCOMOTIVE ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEAIBER 2024
13 Tanglble flxed assets
Flxtures and ffttlngs
Cost
At 1 October 2023
Additions
8.40fj
3,105
At 30 September 2024
Dopr•¢latlon and Impalrmènt
At 1 Oclober 2023
Dopre¢ialion ¢harged in the ￿ar
1,386
1.012
AI 30 S8plemb•r 2024
2,398
Carrying amount
AI 30 Seplombei 2024
9.113
At 30 September 2023
7.020
14 Herltage a¥¥ets
Al 1 October 2023
RevalLJalon
fj5.COO
435,(N)O
At 30 S•pt•mb•r 2024
500.QK)O
The lair valuès ol th# company's Locomolv8s last r8valu#d by an Ind•p8nd*nl valu8r In 2004. Durln J thls yaar.
following the complete Overhaul of the Locornotives that have been carried out since their acquisition, the valuations
hav8 been subsequ8ntly b88n ass8ssed by lh8 Trustees. Th8 Irusl88s have arrivèd at a valuation figure of £500.000
but this ha5 nol been verified by any independenl third parties. Had thi5 rJa5s ol asset béen rnèasur*d on 8 historical
cost basis, Iheir carying amount would have been £21,95912023- £21,959).
13-

THE WESTERN LOCOMOTIVE ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEAIBER 2024
15 Flxed asset Investm8n¢$
Unlisted
Inv•$lm•nts
Co$t Qr valuatlon
At 1 October 2023 & 30 September 2024
11,tx)o
Carrylng amount
At 30 September 2024
11,L
At 30 September 2023
11,(KJO
16 Stocks
2024
2023
Stocks
132.545
96,149
17 D•btors
2024
2023
Amounts falllng du• wlthln ong y•ar'.
Other debtors
22,159
17.452
18 Cr•dltors.' amounts falllng du• wlthln onè y•ar
2024
2023
Trade creditors
Accruals and def8rréd incorne
16.675
1,495
595
1,695
18.170
2.290
19 Relirement ben•fit s¢herne8
Th8 charfly opgrales 8 conlrfbullon penslon 8¢heme for 811 ouallfylng employees. Th9 a889ts of Ih? scheme 8r8
held 8eparately Irotn those ol the charity In an Ind8pendenlly adrninistered lund.
14-

THE WESTERN LOCOMOTIVE ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEAIBER 2024
20
R•strlcted funds
The income funds of the charity include restricted funds comprising the following uneXpend￿ bolance¥ of dgnotion
and grants held on Iiust for sp8Ctfie purposes.,
Movèment in
funds
Movemtrnt in
funds
Ineomlrbo
r&8OUfCO8 1 Octob•r 2023
Inctsmln
r•Sour￿8 30 S8pt•mb8r
2024
10(t¢b6r 2022
D1013 bogig overhaul
D1048 prèsèrvaknon
10,021
16,015
26,036
8,351
5,000
34.387
s,(K>o
10,021
16,015
26,036
13,351
39,387
21
R•latsd party tr•nsactlon$
Thère w•r• no dk4clos8blè ralatecl party Iransacll¢ns durlng th8 y8ar12023- non81.
15-

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