## **Trustees Report 2024** 

The year has been characterised by continuing rising costs as the whole country experienced increases across the board in the cost of living. Early in the year the museum decided that a reduction in people’s disposable income was anticipated and thus gave continuing weight to providing value for money in considering admission prices for the year. Because of the general economic situation and uncertainty over the outcome of the expected general election it was resolved to maintain the admission prices at 2022 levels but also make a slight increase in the cost of food available at the museum’s volunteer run café. 

To summarise the financial results our overall income was down slightly, which seems to have been a trend on many similar organisations. In simple terms the number of visitors was slightly down but café takings were up and again the café made a significant profit, which contributed to the overall income. In spite of there being slightly less visitors in total it seems likely that people spent more time (and money) in the café, which would account for the café being very busy on most operating days. The café profit was also helped by generous donations of various types of homemade cakes, which also proved very popular. 

The driver for a fiver days proved very successful again this year as did the quarry operating days although the lack of steam traction in the second half of the season almost certainly had an effect on visitor numbers. 

On the administration front the museum one Trustee has departed for pastures new and another has stood down for health reasons. The search for additional replacement Trustees will be an objective for next year. The museum was able to take advantage of a Museums Development Midlands initiative which saw the museum site inspected by a professional security advisor. The security measures the museum has in place received favourable comment  and his further recommendations will be considered in due course. 



To mark the 50[th] anniversary of the 13 mile walk of a giant quarry excavator from Rutland to Corby the museum put on a themed exhibition which lasted all year and which was favourably received resulting in a number of related donations from museum visitors. 

During 2024 the museum was able to deliver 19 railway operating days plus a short poignant remembrance event which marked the actual 80[th] anniversary of the sinking of two Japanese “Hell Ships” with consequent loss of life of allied prisoners of war locked in the ships holds. 

During the year the museum was able to host two private visits by vintage vehicle groups and the museum continues to allow its lands to be used for the training of military working dogs without charge. 

Monetary donations received at the museum in 2024 have increased  significantly in comparison to the previous year. In summary 2024 was the good year and it has allowed the museum to maintain its expenditure on exhibit repairs and conservation . Most of our income now has comes via electronic payment methods. 

Whilst we have experienced significant growth in sales in the café this year research evidence suggest that our café prices remain the cheapest going so probably there is still some limited room for some modest increases next year if required although admission prices are again to stay at the 2022 level for the forthcoming year reflecting the overall economic climate. 

The decision to only open on non-operating Sundays in August seems well justified. The results from the viewing only open days on advertised Tuesdays and Thursdays were a little patchy but the café has generally performed well on Thursdays 

Steady progress continued with the conservation of two museum owned diesel locomotives and a box van intended for museum use has been completed. Work has also progressed on an infrastructure project to provide undercover accommodation for mobile plant. 



Work is ongoing with refurbishment of a small wooden building to be used as a display location for equipment and artefacts associated with the operation of a wagon weighbridge on the quarry railway. It is now hoped to complete this project in 2025 when it will be opened to museum visitors. 

The museum continues its regular and essential work on grounds maintenance for the benefit of the museum’s volunteer members and museum visitors.  The museum relies on its volunteer workforce and a number of new volunteers have joined during the year. 

RbR 2024 




Registered Number: 05409096
England and Wales
RUTLAND RAILWAY MUSEUM
Report of the Directors and Unaudited Financial Statements
Period of accounts
stsrt date: 01 April 2023
End date: 31 March 2024

RUTLAND RAILWAY MUSEUM
Contents Page
For the year ended 31 March 2024
Company information
Directors, report
Accountants, report
Income statement
Statement of financial position
Notes to the financial statements
Detailed Income Statement
12
2of13

RUTLAND RAILWAY MUSEUM
Company Information
For the year ended 31 March 2024
Directors
Mr David Mervyn Atkinson
Mrs Anne Bickers
Mr Thomas Selby
Ms Clova Townhill
Mr Clive Wood
Registered Number
05409096
Registered Office
4 MAIN STREET
STANFORD ON SOAR LOUGHBOROUGH
LE12 SPY
Trading Address
Cottesmore Iron Ore Mines Sidings
Ashwell Road
Cottesmore, Oakham
Rutland
LE15 7BX
Accountants
White Knight Accountancy Limited
6, Crown Passage
Uppingham
Rutland
LE15 9NB
Secretary
Ms Sophie Ann Bruton
3of13

RUTLAND RAILWAY MUSEUM
Directors, Report
For the year ended 31 March 2024
Director's report and financial statements
The directors present hislherltheir annual report and the financial statements for the year ended 31
March 2024.
Directors
The directors who served the company throughout the year were as follows:
Mr David Mervyn Atkinson
Mrs Anne Bickers (from 1610312024)
Mr Thomas Selby (from 1610312024)
Ms Clova Townhill
Mr Clive Wood
Mr Bryan Francis Dodd
Ms Heather Owen (from 0110412023 to 1610312024)
This report was approved by the board and signed on its behalf by:
Mr David Mervyn Atkinson
Director
Date approved: 02 December 2024
4of13

RUTLAND RAILWAY MUSEUM
Accountants, Report
For the year ended 31 March 2024
Accountant's report
You consider that the company is exempt from an audit for the year ended 31 March 2024 . You
have acknowledged, on the balan￿ sheet, your responsibilities for complying with the requirements
of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These responsibilities include preparing accounts that give a true and fair view of the state of affairs
of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and
Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of
Changes in Equity and the related notes from the accounting records of the company and on the
basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequentty we do not express any
opinion on these accounts.
l+Vhite Knight Accountancy Limited
31 March 2024
V*Jhite Knight Accountancy Limited
6, Crown Passage
Uppingham
Rutland
LE15 9NB
02 December 2024
5of13

RUTLAND RAILWAY MUSEUM
Income Statement
For the year ended 31 March 2024
Notes
2024
2023
Turnover
45,758
(26,234)
19,524
(22,961)
26,926
Cost of sales
(21,089)
5,837
(22,347)
604
Gross profit
Administrative expenses
Other operating income
Operating loss
Other interest re￿1vable and similar income
(3,437)
17
(15,906)
20
Profitl(Loss) on ordinary activities before taxation
Tax on profit on ordinary activities
Profitl(Loss) for the financial year
(3,420)
{15.886)
(3.420)
(15.886)
6of13

RUTLAND RAILWAY MUSEUM
Statement of Financial Position
As at 31 March 2024
Notes
2024
2023
Fixed assets
Tangible fixed assets
192,602
194,641
192,602
194,641
Current assets
Debtors
1,605
2,837
1,395
14,660
Cash at bank and in hand
4,442
(12,218)
(7,776)
16,055
(22,450)
(6,395)
Creditors: amount falling due within one year
Net current assets
Totsl assets less current liabllities
184,826
184,826
188,246
188,246
Net assets
Capital and reserves
Profit and loss account
184,826
188,246
188.246
Members. funds
184,826
For the year ended 31 March 2024 the company was entitled to exemption from audit under section
477 of the Companies Act 2006 relating to small companies.
Directors, responsibilities:
1. The members have not required the company to obtain an audit of its accounts for the year in
question in accordance with section 476.
2. 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 financial statements have been prepared in accordance with the provisions applicable to
companies subjed to the small companies regime.
7of13

RUTLAND RAILWAY MUSEUM
Statement of Financial Position
As at 31 March 2024
The financial statements were approved by the board of directors on 02 December 2024 and were
signed on its behalf by:
Mr David Mervyn Atkinson
Director
8of13

RUTLAND RAILWAY MUSEUM
Notes to the Financial Statements
For the year ended 31 March 2024
General Infonnation
RUTLAND RAILWAY MUSEUM is a private company, limited by guarantee, registered in England
and Wales, registration number 05409096, registration address 4 MAIN STREET, STANFORD ON
SOAR LOUGHBOROUGH, LE12 SPY. The trading address ofthe company is Cottesmore Iron Ore
Mines Sidings, Ashwell Road, Cottesmore, Oakham, Rutland, LE15 7BX.
The presentation currency is £ sterling.
1. Accounting policies
Significant accounting policies
ststement of compliance
These financial statements have been prepared in Complian￿ with FRS 102 - The Financial
Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been p￿pared under the historical cost convention as modified
by the revaluation of land and buildings and certain financial instruments measured at fair value
in accordan￿ with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the
company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of
Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation
and any provision for impainnent. Depreciation is provided at rates calculated to write off the
cost or valuation of fixed assets, less their estimated residual value, over their expected useful
lives on the following basis:
Plant and Machinery
25 % Straight Line
2. Other operating income
2024
2023
Arts Council & other grant funding
604
604
9of13

RUTLAND RAILWAY MUSEUM
Notes to the Financial Statements
For the year ended 31 March 2024
3. Operating profiV(loss)
2024
2023
The operating loss is stated after charging:
Depreciation of tangible fixed assets
3,087
2,997
4. Other interest receivable and similar income
2024
2023
Bank interest received
17
17
20
20
5. Tangible fixed assets
Cost or valuation
Land and
Buildings
Plant and
Cornputer
Machinery Equipment
Total
At 01 April 2023
Additions
186.454
13,080
1,048
5,000
204,534
1,048
Disposals
At 31 March 2024
Depreciation
At 01 April 2023
Charge for year
On disposals
At 31 March 2024
Net book values
186,464
14,128
5,000
205,582
9,893
3,087
9,893
3,087
12,980
12,980
Closing balance as at 31 March 2024
Opening balance as at 01 April 2023
186,454
186,454
1,148
3.187
5,000
5,000
192,602
194,641
10of13

RUTLAND RAILWAY MUSEUM
Notes to the Financial Statements
For the year ended 31 March 2024
6. Debtors: amounts falling due wlthin one year
2024
2023
Trade Debtors
1,605
1.605
1,395
1,395
7. Creditors: amount falling due wlthin one year
2024
2023
Trade Creditors
Accruals
Other Creditors
6,372
1,316
4,530
12,218
15,615
1,315
5,520
22,450
8. Profit and loss account
2024
Balance at 01 April 2023
Loss for the year
Balance at 31 March 2024
188,246
(3.420)
184,826
9. Company Limited by Guarantee
The company is limited by guarantee and therefore has no shares.
11 of13

RUTLAND RAILWAY MUSEUM
Detailed Income Statement
For the year ended 31 March 2024
2024
2023
Turnover
Rolling stock & engineering sales
Donations, Grft Aid & memberships
Private owner agreementslspecial events
Entrance fees, shop & café receipts
820
21,554
1,570
22,634
45,758
5,376
1,675
19,055
26,926
Cost of sales
Spares, servicing & engineering costs
Coal, oil & diesel
Café purchases
16,296
7,306
2,632
11,515
7,991
1,583
(26,234)
19.524
(21,089)
5,837
Gross profit
Administratlve expenses
Accountancy Fees
Legal and Professional Fees (Allowable)
Light, Heat & Power
Grounds & premises repairs & maintenance
Bank Charges
Merchant bank Charges
Depreciation Charge. Plant & Machinery
Advertising
General Insurance
Printing, postage & stationery
Telephone
Health & safety training
Sundew Project expenses
1,303
13
1,302
13
3,243
1,356
112
1,506
167
560
532
2,997
5,966
6,102
66
3,087
4,496
8,046
142
536
536
816
67
(22,961)
{22,347)
Other operating income
Arts Council & other grant funding
604
604
Operating loss
Other Interest recelvable and similar
income
Bank interest re￿iVed
(3,437)
(15,906)
17
20
12of13

RUTLAND RAILWAY MUSEUM
Detailed Income Statement
For the year ended 31 March 2024
17
20
ProfiU(Loss) on ordinary activlties before
taxation
ProfiU(Loss) for the financial year
(3,420)
(1 5,886)
(3,420)
(15,886)
13of13

Registered Number: 05409096
England and Wales
RUTLAND RAILWAY MUSEUM
Report of the Directors and Unaudited Financial Statements
Period of accounts
stsrt date: 01 April 2023
End date: 31 March 2024

RUTLAND RAILWAY MUSEUM
Contents Page
For the year ended 31 March 2024
Company information
Directors, report
Accountants, report
Income statement
Statement of financial position
Notes to the financial statements
Detailed Income Statement
12
2of13

RUTLAND RAILWAY MUSEUM
Company Information
For the year ended 31 March 2024
Directors
Mr David Mervyn Atkinson
Mrs Anne Bickers
Mr Thomas Selby
Ms Clova Townhill
Mr Clive Wood
Registered Number
05409096
Registered Office
4 MAIN STREET
STANFORD ON SOAR LOUGHBOROUGH
LE12 SPY
Trading Address
Cottesmore Iron Ore Mines Sidings
Ashwell Road
Cottesmore, Oakham
Rutland
LE15 7BX
Accountants
White Knight Accountancy Limited
6, Crown Passage
Uppingham
Rutland
LE15 9NB
Secretary
Ms Sophie Ann Bruton
3of13

RUTLAND RAILWAY MUSEUM
Directors, Report
For the year ended 31 March 2024
Director's report and financial statements
The directors present hislherltheir annual report and the financial statements for the year ended 31
March 2024.
Directors
The directors who served the company throughout the year were as follows:
Mr David Mervyn Atkinson
Mrs Anne Bickers (from 1610312024)
Mr Thomas Selby (from 1610312024)
Ms Clova Townhill
Mr Clive Wood
Mr Bryan Francis Dodd
Ms Heather Owen (from 0110412023 to 1610312024)
This report was approved by the board and signed on its behalf by:
Mr David Mervyn Atkinson
Director
Date approved: 02 December 2024
4of13

RUTLAND RAILWAY MUSEUM
Accountants, Report
For the year ended 31 March 2024
Accountant's report
You consider that the company is exempt from an audit for the year ended 31 March 2024 . You
have acknowledged, on the balan￿ sheet, your responsibilities for complying with the requirements
of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These responsibilities include preparing accounts that give a true and fair view of the state of affairs
of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and
Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of
Changes in Equity and the related notes from the accounting records of the company and on the
basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequentty we do not express any
opinion on these accounts.
l+Vhite Knight Accountancy Limited
31 March 2024
V*Jhite Knight Accountancy Limited
6, Crown Passage
Uppingham
Rutland
LE15 9NB
02 December 2024
5of13

RUTLAND RAILWAY MUSEUM
Income Statement
For the year ended 31 March 2024
Notes
2024
2023
Turnover
45,758
(26,234)
19,524
(22,961)
26,926
Cost of sales
(21,089)
5,837
(22,347)
604
Gross profit
Administrative expenses
Other operating income
Operating loss
Other interest re￿1vable and similar income
(3,437)
17
(15,906)
20
Profitl(Loss) on ordinary activities before taxation
Tax on profit on ordinary activities
Profitl(Loss) for the financial year
(3,420)
{15.886)
(3.420)
(15.886)
6of13

RUTLAND RAILWAY MUSEUM
Statement of Financial Position
As at 31 March 2024
Notes
2024
2023
Fixed assets
Tangible fixed assets
192,602
194,641
192,602
194,641
Current assets
Debtors
1,605
2,837
1,395
14,660
Cash at bank and in hand
4,442
(12,218)
(7,776)
16,055
(22,450)
(6,395)
Creditors: amount falling due within one year
Net current assets
Totsl assets less current liabllities
184,826
184,826
188,246
188,246
Net assets
Capital and reserves
Profit and loss account
184,826
188,246
188.246
Members. funds
184,826
For the year ended 31 March 2024 the company was entitled to exemption from audit under section
477 of the Companies Act 2006 relating to small companies.
Directors, responsibilities:
1. The members have not required the company to obtain an audit of its accounts for the year in
question in accordance with section 476.
2. 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 financial statements have been prepared in accordance with the provisions applicable to
companies subjed to the small companies regime.
7of13

RUTLAND RAILWAY MUSEUM
Statement of Financial Position
As at 31 March 2024
The financial statements were approved by the board of directors on 02 December 2024 and were
signed on its behalf by:
Mr David Mervyn Atkinson
Director
8of13

RUTLAND RAILWAY MUSEUM
Notes to the Financial Statements
For the year ended 31 March 2024
General Infonnation
RUTLAND RAILWAY MUSEUM is a private company, limited by guarantee, registered in England
and Wales, registration number 05409096, registration address 4 MAIN STREET, STANFORD ON
SOAR LOUGHBOROUGH, LE12 SPY. The trading address ofthe company is Cottesmore Iron Ore
Mines Sidings, Ashwell Road, Cottesmore, Oakham, Rutland, LE15 7BX.
The presentation currency is £ sterling.
1. Accounting policies
Significant accounting policies
ststement of compliance
These financial statements have been prepared in Complian￿ with FRS 102 - The Financial
Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been p￿pared under the historical cost convention as modified
by the revaluation of land and buildings and certain financial instruments measured at fair value
in accordan￿ with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the
company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of
Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation
and any provision for impainnent. Depreciation is provided at rates calculated to write off the
cost or valuation of fixed assets, less their estimated residual value, over their expected useful
lives on the following basis:
Plant and Machinery
25 % Straight Line
2. Other operating income
2024
2023
Arts Council & other grant funding
604
604
9of13

RUTLAND RAILWAY MUSEUM
Notes to the Financial Statements
For the year ended 31 March 2024
3. Operating profiV(loss)
2024
2023
The operating loss is stated after charging:
Depreciation of tangible fixed assets
3,087
2,997
4. Other interest receivable and similar income
2024
2023
Bank interest received
17
17
20
20
5. Tangible fixed assets
Cost or valuation
Land and
Buildings
Plant and
Cornputer
Machinery Equipment
Total
At 01 April 2023
Additions
186.454
13,080
1,048
5,000
204,534
1,048
Disposals
At 31 March 2024
Depreciation
At 01 April 2023
Charge for year
On disposals
At 31 March 2024
Net book values
186,464
14,128
5,000
205,582
9,893
3,087
9,893
3,087
12,980
12,980
Closing balance as at 31 March 2024
Opening balance as at 01 April 2023
186,454
186,454
1,148
3.187
5,000
5,000
192,602
194,641
10of13

RUTLAND RAILWAY MUSEUM
Notes to the Financial Statements
For the year ended 31 March 2024
6. Debtors: amounts falling due wlthin one year
2024
2023
Trade Debtors
1,605
1.605
1,395
1,395
7. Creditors: amount falling due wlthin one year
2024
2023
Trade Creditors
Accruals
Other Creditors
6,372
1,316
4,530
12,218
15,615
1,315
5,520
22,450
8. Profit and loss account
2024
Balance at 01 April 2023
Loss for the year
Balance at 31 March 2024
188,246
(3.420)
184,826
9. Company Limited by Guarantee
The company is limited by guarantee and therefore has no shares.
11 of13

RUTLAND RAILWAY MUSEUM
Detailed Income Statement
For the year ended 31 March 2024
2024
2023
Turnover
Rolling stock & engineering sales
Donations, Grft Aid & memberships
Private owner agreementslspecial events
Entrance fees, shop & café receipts
820
21,554
1,570
22,634
45,758
5,376
1,675
19,055
26,926
Cost of sales
Spares, servicing & engineering costs
Coal, oil & diesel
Café purchases
16,296
7,306
2,632
11,515
7,991
1,583
(26,234)
19.524
(21,089)
5,837
Gross profit
Administratlve expenses
Accountancy Fees
Legal and Professional Fees (Allowable)
Light, Heat & Power
Grounds & premises repairs & maintenance
Bank Charges
Merchant bank Charges
Depreciation Charge. Plant & Machinery
Advertising
General Insurance
Printing, postage & stationery
Telephone
Health & safety training
Sundew Project expenses
1,303
13
1,302
13
3,243
1,356
112
1,506
167
560
532
2,997
5,966
6,102
66
3,087
4,496
8,046
142
536
536
816
67
(22,961)
{22,347)
Other operating income
Arts Council & other grant funding
604
604
Operating loss
Other Interest recelvable and similar
income
Bank interest re￿iVed
(3,437)
(15,906)
17
20
12of13

RUTLAND RAILWAY MUSEUM
Detailed Income Statement
For the year ended 31 March 2024
17
20
ProfiU(Loss) on ordinary activlties before
taxation
ProfiU(Loss) for the financial year
(3,420)
(1 5,886)
(3,420)
(15,886)
13of13