WEST LANCASHIRE UGHT RAILWAYTRU8T
ANNUAL REPORT AND UNAUDITED FINANCIAL 8TATeMENTS
FOR THE YEAR ENDED 31 DECEMBER 2D23
Comp8ny Reg18tration No. 05866375 (England 8nd Wa1881
Charlly reg151i&llon number 112114g IEngland and Wal6sl

WEST LANCASHIRE LIGHT RAILWAY TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Tru8t••#
MrA Frodsham
Mr D R G88ring
MrAL Jones
Mr K Nlcolls
Mr P W Smllh
Ir M T Spall
Mr G 8 Cl8rttson
rSLMooro
MrDBPratt
Mr R G P Mar61on
(Appolnted 14 M8rch 20231
Se¢￿tary
Mi C Brown
Charlty numbèr
1121149
Company numbor
05866375
Reglgtor6d offlcè
8e¢onsall Stallon
Stallon Road
H85keth Bank
Preston
L8ncashlra
PR4 6SP
Ind•p•nd•nt •xamln8T
Champion TLL Llmited
7-9 Stallon Road
Hesketh Ban
Pi&6lon
L8nca5hlre
PR4 6SN

WEST LANCASHIRE LIGHT RAILWAY TRUST
CONTENTS
Page
TNstees' report
Indop8ndenl examlnefs report
Statement of fln8n¢lal 8cllvlll•8
Balance she8l
Notas to th8 flnandal 8tat8m8nts
10-20

WEST LANCASHIRE LIGHT RAILWAY TRUST
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2023
Th9 tru$tO8s prèsant thelr annual report and fin8ndg1 stotem•ntg for thè yaar eThJed 31 December 2023.
Th8 fin8nei81 $18tgments have been pr9pared in aceoTdance wllh the accounllng pollcles set oul In note 1 to tha
fiffTr8ncial slatemenls and comply wllh lh8 ch8rity8 governing document, the Companles Act 2006 and 'Accounting
nd R8POrtlng by Charllles.. Statement of Rewrnm8nd8d Praellcè applleable to charllles Preparing Iheir accoun¢8 In
8ccordance wlth thè Flnan¢lal Reportlng Sl8nd8rd oppllcable In tho UK and Republlc of Ireland IFRS
1021. {effecUv8 1 January 20191.
Obloctlv88 ond actlvltlo8
The obje¢llve8 of Ihg ch8rfty em as foSlows'.-
The pAnclpal object of th8 company conllnu8s io b8 io 8dvance th8 education ol lh6 publlc by acqulsltlon.
restorallon, preservallon. tsxhlblllon and op8rallon ol n8Trow g8ugè r¥I￿AY locomollves, rollSng stock. equlpmenl
and artefacts, docum8nts And rneords. Ajso, Indudlng the operallon of a d8mtsnstrallon rel￿1&Y, for the purpose of
demoThslrallng such it8m8.
To ensure Ihe8e objedlv8s ar8 mèt. the dlrectors lay down poll¢igs lo bg c8rfèd out by offlcers And volunle8r8.
Publlc benefft
Tha trn$t8es hev8 pald due regard to guld&nc• Issued by the Charlty Cornmi&8ion in declding wh*t Acllvllles the
th&rity should undertake.

WEST LANCASHIRE LIGHT RAILWAY TRUST
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Achlev?mgnt$ ond p#rfomianc•
Slgnllcanl acllvllles and achlgvgmenls 8g8lnstobJ6ctlv8$
2023 was yg18nother suceesslul year for the West L8nca$hlr8 Ll9ht R811way Trust. We operated on 78 days durfng
Ihg year. mainly Sundays and Bank Holldays, wllh som8 Saturdays and midwe8k runnlng. All oporated by our Trusl
volunteers.
Our Trustees Continued lo hold bl.monthly meellngs In 2023 to provide dlreclion and strategy lo meal our charflable
oblecllves. Two m8lor projocls havo taken slgnlficanl Tw8te8 Ilme In 2023. 1. Ch8ng8S to th$ rallways artl¢1•6- 10
ensure Ihey arg b88t practicè and up lo date. 2. Oesl9n and pl8nnlng for a muS1ipurp09e buSldlng to provlde a new
heated 8P8ce lor u88 a8 8 new lèaroom, educatlon room. Iralnlng room and m8eting room. Our revlsed &tS018s afe
expectgd to be 8pprov8d by the mèmbershlp al a spedal m9etlng in $8Ptember 2024. The mulll-purposo bulldlng
ha8 been a dlfflcijll prolecl. wlth unexpecled p18nnlng 188ues delaylng plannlng approval. W& afe hopgful that
plannlng wlll be 8ppYoved In Septèmber 2024.
Our Tr&a8urei. Mr. K4.J. Smlth, fesluned os a Trustee on Ihe 1st of January. 2023, but r8malns ourfrèasurar whlle
we look to appolnt 8 n8w company treasurer. The Trustees wlsh to recgTd th8lr thanks to Martyn for hls dedlcallon
and Ilme as a Tru8t88. UtLd8r our exlsllng artlcles, Mr RICha￿ Marslon was ￿-Opted a5 a now Tm61eo, belng
rallff8d by the member8 81 Ihg ¢ompany AGM In September 2023. Richard brin95 IT. busln•ss aThl local aulhoTIty
axporlence to the board.
The rallway operated Buwss￿1ty In 2023, wlth passenger nvmbeTS and Income Sllghtly up on 2022. Comlng after
the post-pandeml¢ bounce. th18 is very plèaslng. Our event d8ys arg 8Iw8y5 V8ry popular throughout Ihe year,
especlally wlth famllles. Our 2023 Chllslmas Sanla Speclals, operated ovgrfiv9 days and wère once agaln fully sold
out by Nov8mb8r. The89 evenls 8nd galb days reoulre a 61gnifl¢8nl numbgr of volunl8èrs to opèrate lh6 days
suceesslu11y. Th8 Twslee8 Wl8h to thank our dedlcated and wonderful vdunteers for all thelr hard Kvrk. We wouldn'l
be Iho successful op8ralion w8 are wilhout tham.
Our Rollway operated salely In 2023 wllh no slgnlflcanl Incldents recorded. Safety Is p8r8mount to what wts do.
Safety refresher Iralnlng days w8r8 h81d In 2023. wllh frxcellent a118ndance frorn our $8f8ty-crilical vol￿nIe&r$. Two
of our Trustees attended 8n Office of R8118nd Road semlnar In Glasgow on Ihg n8w RM3 h6ritkgè guId￿Ce. Our
1o&room volunteers wnllnued to maintain their Food Hyglonè qualiflcaUon8 and n9w volunle8r8 W8ro trainéd and
addad to the tearoom roster.
Tha rallway conllnue8 to welcome new voluntoers, wlth a number of new regular8 becomlng 9ro4t 8s8èts to our
Trust vla Ihe Thursday worklng p8rt185. Many of our rècfulls are recenuy rellred. arrlvlng wllh great skllls and
8XP8rienc&. Younger new members ar8 a180 b81ng welcomèd, but It Is a concem that volunieering for young people
1$ not A$ popularas In Ihe past. Th1318 8omelhlng wa mustwork on to Improve If we are lo survlve In Ihg futu¥*.
Our Trust slrtves to b8 an Important part of our vlllagè communlty. We were dglighted to bg aW8rd￿ Best Kept
Cornmunity Space In Ihe Hesketh Bank 2023. R8cogllilion of tho hard woth our gard8ning volunt88rs contiRu8 to
A populAr communlty scheme w8 operat818 our school's progrAmme. In 2023, w8 OP8rat8d on 8lx d8y5 for P￿mIry
school educallonal vlslts, where the chlldren 198m about tha hlstory of rallways, how 8 rallway op8r8t88. and how
we restore And malnlaln our h1storlc ￿lI9¢110n of narrow-gaugè rallway equlpmenl. No charg85 8re m8d8 for th8S6
vl8its. W6 aro very giaieful to the Co-op CommuThity Fulld for Iholr support with thls programm8 of school vislts. Wa
orè hopeful thal scheme8 such 88 Ihis will lead to more young people con8ld8rfng 8 fu¢ure In englneerfng or
voiunteerlng.

WEST LANCASHIRE LIGHT RAILWAY TRUST
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORTI ICONTINUED)
FOR THE YEAR ENDED 310ECEMBER 2023
For mosl of 2023, we op8rat8d wllh one steam locomotlve. lrfsh Mall, owned by tha Wè8t L8neashlre Looomotlv8
Trust and malnlalngd by our railwAy volknnleers. Ideally, we would Ilke to OP8rate with iwo englnes durlng the
season. Unfortunately, due to delays lollowlng the pandemlc, resloratlon8 to olh9r 8ngille5 In our fleet locomotlves
w8ro delayed. We werfj very gTatelul lo our filends at the Moseley R81Sway Trusl for the loan dudng part of the
summer ol Ashanti Hud8w811 CIBrke 0-6-0 durfn9 August. Ashan￿ worked 8￿p￿rblY al our rallway, and we look
fO￿ard io Its r8¢urn. Thanks to 8 consldorable amount of work, our workshop team war6 abla to tlnlsh the delayed
tèn•yeaT ovorhaul of Mont8lb8n In th8Autumn of 2023, belng a welcome retum of Ih15 8ng1Tr8 to setvlca.
Work also contlnued wlth Ihg r8buildlng ol Sybll, Includlng the 8team iesllng of a n9w bo118r. substanllally bulll Irom
now by our workshop team. A significant achltsvoment. Hop8S to compl8te Ihi8 r88toration by tha and cl 2023,
unlortunatety, dld not happen dug lo fin81 bollar eertlftcallon delay6, palntlng and commlBslonlng. Happlly. thls wa8
811 resolved In sprlng 2024.
Work on our Access for All, naw c8nl&gè also eonllnued, wlth Intemal fjttlng out. Nèw Intemal Ilghts and audlble
equlpmenl have been fitted. Br8klng lor thè carrtage was also completed. deslgngd and Installed In.house. Work
now moves on to naw doors. with comp18Uon expected of thls prolecl In 2024.
Th8 trust producod a new 48-pag8 guidebook and hlstory ol the rallway In 2023. Th858 guld8books aye sold In OUT
shop and prov8 lo bo popular. We aim tg rgvise thèsa publlcallons every 213 years. Two edilion8 of our membershlp
Short Axle m8g&zlne8 were produced. logelh8r wllh elght edlllon8 01 our very popular onllne W&sl Loncs Nows
n8wsl8ttgr.
A 4-wheal8d ex. Penrhyn slate w8gon. donated by the lal6 Derek Pfeece. w88 fully r88torgd In 2023 by th8 Sybll
t¥8m. Thè wagon wlll demon8lfal8 8 typl¢81 Norlh Wales narrow gauge mainllne 818te wagon.
The railway Was dellghted to recelve a don8llon Irom Sefton Coundl and Rigby Bullding CoDtr8Ctors. Soulhport, of
16 lengths o1351b rall from Soulhport PleT. Th8 rallway has a long asSocIa￿On wilh surplus rallway equlpment 1￿M
Soulhport Pler.
Our Chalr wa¥ d811ghlad to oceept an Inyltallon from Rl Hon StuartAndrews MP, Padl8rngntsry Under S8crètory 01
state. ts) a r8cèpllon at No. 10 Downlng Stre9t In May 2023 In recognluon ol Local Ch8rily Champlon* Our Chalr
was ac(x>mpaThlad by our local MP, Kath8rfne F181ch8r.
Th8 Tru81885 of the West Lancashlr8 Ll9hl R8ilw8y Twst will conllnu8 to develop and traln It8 volunteers, provldlng
worthwhll8 volunt•or opportunllles. We wlll continu• to Improve, as fundlng allows, our 18¢11i1185 *)r both our
rnemb9r8 8nd v1811ors. ensurlng we malnlaln our P¢Ydlllon as a quallty herflag8 and edu¢aUon81 atlr8cllon In Wasl
Lan¢a8hlr8.
Flmttnclal rovlow
The Dlreclors hav8 8$t8bllshed a poll¢y whereby th9 unr8slrict•d lunds not commllled or Inves18d In L8nglblè fixed
assets Ilhg fre8 r8S8rv&sl hèld by thg Charity 8hould bè approxlmately twelve months expenditure. Ba58d on
pr8vIou8 8ver8g8 &XP8ndllure levels, Ihls target would b8 approxlmately £40,000 Ibefore varfabl8 fvndr818lng and
event costs and on8-off èxpensgsl. Aftei allowlng for funds whlch represent non Ilquld asset8 lrnonle5 Alrèady
spenl on FlxadA588tsl and thlrd party repalrs, Ihe 8clual ftjndglgvel Is £50,772.
Result8 for thè yOAr
The Dlrectors reported en operaUTrg 8uipIu8 durtng Iho yoar. The rallway hopes to contlnu8 to acaJmulbt& a surplus
In 8n effort lo provldè a buffer agalnst uncert8ln gry)nomlc pressures and to allow the devglopmenl of Ihe slte and
ongolng 8clivitles tts be lunded.
Th8 dlr8Ctors remaln confldent of Ihg Compan￿8 ablllty to lulfll Ils obl8cllv89 In Ihg long8T tsmi and the rallway
intends IncreRslng Its gala events and 98ner81 fflarketlng to absorb Ihls In¢rga8ed ¢08t.
stru¢tur•, govemanc• and manogamont
The charity 1$ eontrolled by Il's govemlng docvm8nt. a de6d of trusl and conslilul98 a Ilmlted ¢x)mpany. Ilmltgd by
guaranlg8. kg dafinad by tha Compan¥8A¢l 2006.

WEST LANCASHIRE LIGHT RAILWAY TRUST
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) ICONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Th8 trugt888. who are klso the dlreelors for the purpose ol Company law. 8nd who 8erv8d durfng thèygor and up to
Ihe dale of 8ign81ure of Ihe financlal statements were:
MrA Frodsham
Mr D R G88rfng
MrA L Jones
Mr K Nlcolls
Mr M J Smllh
Mr P W Smith
Mr M T Spall
Mr G B Clarkson
Mf S L Moore
MrD8Pratt
r R G P Marslon
(Reslgned l January 2023}
IAppolnied 14 M8r¢h 20231
R8cwllment8nd 8ppolntmontollm8t8es
In accordanco wlth the Memorandurn 8nd Arllc185 ofA8$oelallon thè Board of Tw6te8s may appolnl new tru¥t888 10
fill a vacancy or as an addlllonal IN8le9 provld8d that Ihb number of trustees does not then exceed thg Thumb9T
agfood wilhSn IheAriScl88
The trLF$teog' 10
was approved by Ihe Board ofTru$teg¥.
Tspa
Tru$lg9

WEST LANCASHIRE LIGHT RAILWAYTRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF WEST LANCASHIRE LIGHT RAILWAY TRUST
l report lo Ihe trust885 on my èxamlnatlon ol th8 Ilnandal 8t8temènts ol Wast Lan¢ashlre Llght Ralway Tru8t Ilhe
charltyl for Ihe year ended 31 Decembor 2023.
Re•pon$lbllltl?s and ba818 ot r•port
As the trustees of Ihe charity18nd also Ils dlraetors for the purpose8 of company lawl you aro respon5ibl8 for the
preparatlon ol the flnancial 8lalem8nts in accordance wllh the requlrernents tsf thè Companles Act 20(b Ith8 2006
Aell.
H&vlng Sa￿s￿8d my89lf Ih8t th8 tlnancial slatements ol the ¢h8rity orè not raqulred to be aud11￿ under P8rt 16 or
the 2006 Acl and are eli9ible for Indapèndent examlnatlon. I r8POrt in iespect of my examlnallon of Ihe ¢harlly'$
financlal statements c8rr18d out under secllon 145 01 the Ch8rlll88 Act 2011 Ilhè 2011 Acll. In carrylng out my
èxamlnatlon I have follDw8d 811 th• appllcabla Dlrectlons gSven by the Ch8rfty Commlsslon under sectlon 1461Sllbl
of the 2011 Acl.
Independent examlnerf8 8tatem•nt
I have completed my examinalion. I confirm that no mattors havo coma lo my attenllon In connectlon wSth th9
8x8rninallon giving m6 cause to beli8V8 that In 8ny materfal respe¢l'.
accounlln9 recoids were not kept Sn r8specl of the th8rity as requlred by secllon 386 of the 2006A¢l'. or
Ihe flnanclal statements do not accord wllh those records., or
Ihe fln8nd818lalemeHt8 do nol comply wllh th8 Bccounting requlrements of sectlon 396 01 thè 2006 ￿1 othef
than any r8quirem8nt that the accounts gfve 8 tIU8 And lalr vlew whlch Is nol 8 matter con11d8￿d as part ol an
Independent 8xamlnatlon', or
th8 fin8nclal slatements h8v8 not b86n prtspared In accordan￿ wlh lh¥ methods and prlnclple8 of th8
st8tement of Recommended Pr8Ctlc6 for accounllng and reportlng by charllles appllcable lo ¢h8ritle$
pr8P8rfng th&lf accounts In accordanc& wllh the Flnand81 Reportlng Standard appllcable In the UK aFxI
R8pvbllc of Ireland IFRS 102).
I hava no concerns and hav8 com8 acioss no olher matiers in conn8clion with the examlnalon ¢0 whlch 8ttention
should ba drawn In thls report In Ordgr to anabl6 a proper understandlng of th6 fin&ncl&l statements lo be re8¢hed.
Cham
lon TLL Llmltod
P Buck FCA, DChA
7-9 station Road
Heskelh B8nk
Preston
Lancashlre
PR4 6SN
Dated..

WEST LANCASHIRE LIGHT RAILWAY TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
Curr•nt Iln8nclal yoar
Unrostrlcted Unr8strl￿0d
fundo
fund$
g•noral deslgnated
fund8
2023
Re8trlctDd
funds
Totsl
Total
2023
2023
2023
2022
Not98
Incomè and endowmgnts from:
Don8lions and 18g8cIos
Charltable acllvltles
oth8r Incom8
25.734
79.160
24.900
8,OS8
33.792
79.160
24,900
37.061
71.756
Toial Income
129.794
8,058
137.852
108.817
Exp8ndltur¥ on:
Charllable acWv1119
B1,932
2.971
84,903
95.571
Total expondltUTe
81.932
2,971
84.903
95.571
Net Incom$
47.862
5,087
52,949
13,246
Transtsrs baiween lunds
{37.946)
37.946
Net movement In fund8
9.916
37,948
5,087
52.949
13.246
Reconclllatlon of fund8:
Fund balanc98 at 1 January 2023
40,856
173.437
108,843
323,136
309.890
Fund balan￿5 at 31 D•¢omh•r
2023
50,772
211.383
113,930
376.085
323.136
Tha statèment of finan¢i818clivillas Indudes 011 galns and loss98 recogn18ed In Ihè yaar. All Income and expendlture
da￿ve from contlnulng aclivi1185.

WEST LANCASHIRE LIGHT RAILWAY TRUST
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
Prlor flnancl81 y08r
Unrestrlctad
funds
2022
Rg¥trfct•d
funds
2022
Total
2022
Note$
Income and endowmontB from..
Donallons and legacles
Ch8rilebl8 8¢1ivllle8
34,477
71.756
2,584
37.0fj1
71,756
Total Incom•
106,233
2,584
108,817
Expendlture on:
Charltable act5￿tIeS
94.734
837
95,571
Total expendl¢ur•
94,734
837
95,571
Not Income and mov¢ment In fund8
11.499
1.747
13,246
R•¢on¢lllollon of funds:
Funil balanc06 at 1 January 2022
202.794
107.096
309,890
Fund balanc•8 at 31 Decembgr 2022
214.293
108.843
323.136

WEST LANCASHIRE LIGHT RAILWAY TRUST
BALANCE SHEET
AS AT 31 DECEMBER 2023
2023
2022
Notsg
Flxod &88•ts
Tanglblg a388t8
Haritaga assats
11
12
367.928
17,735
381,378
17.735
365,e61
379.113
Curronl os•gtJ
sto¢k6
Dgblor8
Cash al bank and In hand
13
14
8,841
797
03,394
8.392
429
46.37B
72,832
55.199
Credltors.. amounts falllng duo wlthln
one year
{33.8081
133,3761
curr•nt a88•t8
39,024
21.823
Totsl ais•t# l•s¥ curr•nt Ilabllllle
424,885
4CK).936
Cr•dStors- amounts falllng du? aftor
rnore than ono yèar
17
{48,6001
177.8001
Nèt a88èts •xcludlng pen8lon11oblllty
376.085
323.136
376.085
323.136
The fund• of thg ¢harlty
R8Strictèd ineomo fvnds
Unreslrlcled fund6- general
Unr•slrfclad funds- d8slgnated lunds
113,930
50.772
211,383
108,843
40,856
173,437
19
376.085
323,136
The cotnp8ny Is 6nllUod to the exemptlon from the audit r*qU1￿Ment contalned In sectlon 477 of lh8 Compan188Acl
2006. forth8 year onded 31 December 2023.
Th8 dlrèctots acknowJ8dge theST respon81bllilles for complylng ￿th the Tequlrernenl$ ol the Cornparth A¢1 2006
th respecl to ac¢ounllng records and lh8 preparallon ol ffnanclal $lalement6.
The members have not requlred the company to obtAln an audll ol It8 fjnan¢lel 8talgm8nls for the year In quastEon In
accordance wllh Sectlon 476.
These financlal 8lalernenl$ hgv8 bagn prepared In a¢coTdancg with th8 provislons appllcabla lo companles sublecl
to the small companlgs reglmg.

WEST LANCASHIRE LIGHT RAILWAY TRUST
BALANCE SHEET {CONTINUED)
AS AT 31 DECEMBER 2023
Tha flnanelal stote
ts were approved by Ihg trus1995 on ...... ..
Mr M T Spall
Tru•t¢a
Company r8glstrallon number 05866375 IEThgland and Wal85}

WEST LANCASHIRE LIGHT RAILWAY TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accountlny poll¢l?
Charlty Inform8llon
W88t Lanckghlre Llghl RaI￿aY Twst 18 a prfv8te comp8ny IlmSted by guarantee Incorporated In England ond
WB105. Th& reglstered office Is Becon8all Statton. Slatlon Road, H98kgth Bank, Pr8Jton. L8nca5hlr8. PR4
GSP.
1.1 Aecountlng conv¢nllon
The finan¢lal statèmonts havè been prepared In ac¢o￿anc8 wlth thè charflV6 Igovemlng documentl. the
Companle8 Act 2006. FRS 102 "Yhg Flnanclal Reporllng Standard appllcablo In thg UK and Republ1¢ of
Ireland. I'FRS 102"18nd the Charllles SORP 'Accounting and Reportlng by Charflles.. Slatemenl of
Recomm8nd8d Pr8cllce appllcable lo ¢h8rlllg8 prepadng th¢lr accounts (Tr accordance wlth lh8 Fln8nclal
Reporting Si8ndard 8ppllcablo In lh8 UK and Republlc of Ireland IFRS 1021" (effective 1 January 20191. Tha
charltyls a Pubylc Benefft Entlty as deffned by FRS 102.
The charfty has tsken advantage ol the PT￿810￿¥ In tho SORP lor Charl￿e8 not to prepare a Siatwn8nt of
Cash Flows.
The flnanclal $1818ments are prèpared In Sterflng, whlch is thtr luncllonal CU￿ncY ol Ihe chartty. Monètary
amounts In Ih888 financial statoments are Tovnded lo thè n68rest £.
Thg fin8n¢181 slalemenls have been prepared undér the hlstorlcal cost conventlon. The pr4nd￿l aceountlng
pdlcl88 8dopt8d ar6 set oul below.
1.2 Golng concer
At tho tlme of approvlng Ihe financlal $talemen¢s. the tru8t88s h8VO 8 rehsonable expectation thal the charity
has adequate resources lo conllnug In op8ratlonal existenc8 for the lor6se6able fulure. Thus the tr￿te&S
contlnue to adopt th8 golng concern basss of ac¢ounUng In pr8parfng ihe financlal statements.
1.3 Charltabl• fund8
Unr08trfcted fund8 ar• avallabl8 for u8e at thg dlseratlon ol tho truste08 In futheTan¢8 of Ihelr ¢haTltabl6
oblecllves.
Rèstrlcted lunds ar8 8ubl8Ct to speclfic condlllons by donor8 or gr8lltor8 as to how Ihey may b8 used. The
purposes and uses of lh8 rastrlcted funds are s81 out In the note8 to lh8 fin&nclal statements.
Endowment lund$ are sublecl to SP8dflc condltlons by donors that the ¢8p5t81 must be malntalned by the
charfly.
1A Incom8
Income Is rewnlsed whon tha charlty Is legally entllled lo It 8fter eny parformance Condl￿On$ hav8 been rn8t.
th8 amounts can be me8sur8d reliably. and It Is probable that In￿rn￿ wlll b8 r8c•lved.
Cash don8llons ara recognlsed on r8C81Pt. Other donatkJns are recognlsed onc8 th8 tha￿ty has been nollfled
of the donBtlon. unless performance condltlons requlre deferr81 of Ihe amount. Income tax recoverable In
rglation to donatlons recelv8d und8T GIftAld or deeds ol cov8nanl 1$ recognl58d at Ihè tlme of the donallon.
Leg8c18s ar8 recognlse¢Y on fecelpl or olherwt58 11 the charlty hos been notlfl8d ol gn Imp8ndlng ¢Jislrlbullon,
the 8mounl Is known, and rgcelpl 18 8XP8Cted. If the amount Is not known. th8 legaGy Is treated as a
cOn￿ng8￿t 985et.
10-

WEST LANCASHIRE LIGHT RAILWAY TRUST
NOTES TO THE FINANCIAL STATEMENTS ICONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Accountlng pollcl•o
{Contlnuedl
1.5 Expgndlture
Expendllure Is recogn16ed once there Is 8 18g81 or constructiv& obllgaUon lo tran￿er economlc beneflt to a
thlrd party. It 1$ Probable thal a transfer ol economlc b8nefits will b8 requ1￿d In sètUarn•nt. Bnd Iha amount ol
tha obllgallon can be measured rellably.
Expondlturo 16 da$slfled by a¢tlvSty. Thg Costs of each activity are made up of tho ltstal of dlml cos18 and
shared costs, Includlng 6UPPOrt ¢0818 Involved Sn und8rt8king 8Ach Activity. Diract costs attribulaLIg to a slnglo
8Ctlvily 8re allocated dlreclly to Ihal actlvlty. Shar8d costs whlch eontributè to morè than ona acllvlty and
support costs whlch are not atlrlbutablg 10 8 8ing18 8clivity 8re Bpportion8d beiwaen Ihose acllvll￿s on a basls
c4)nsistent wlth the use of resources. Central 8t8ff cost5 are allocated on the basis of Ilm6 spent, and
depre¢l8llon eharges are allocated on lh8 Portlon ol th8 &588t'S Use.
1.6 Tjnglble fixed aBS0t8
Tanglble flxed assets are initially rnea8vred at cost and subs•quenlty measured at cost or valuallon, net ol
depreclallon and any Impalimenl Ios898.
D8preclation is re¢ognis8d so as lo wrtl8 ¢)ff Ihe cost or valuallon of a8881s1885 Ih8lr r851du81 v&Jues over th6lr
U88ful IIv88 Dn tho followSng bases:
Freehold land ar￿ bulldlng$
Plant and equlpment
5% reduelng balance
The galn or loss &riglng on the dL8posal ol an asset18 detemilned a8 the diff8f8nce b81w8gn Iho sala pr￿eedS
and tho carying value of thè asset, and Is recognlsed Sn Ihe statement of financlal aelivlll•s.
1.7 Impalrment of flx?d a$$gts
M each r8POrtlng ènd date, Ihe charlty revlews the c8rrylng 8mounis of Its langlblè assets lo delemiln8
wheth8r thorè is any Indlcatlon Ihal those a$sel$ have 8uff8r8d an Impalmient loss. 11 any sueh Indthtlon
exlsts. the r8c¢)verebl8 amount of the asset 18 estim8led In order lo dotamlna tha extent ol ihe Impalmienl
1085 lif any).
1.8 Stocks
stocks are staled al Ihe lower of cost and estimated $6lllng prfce less costs lo complete and sell. Cost
comprfses dlrecl materlals and. wh9re 8pplicabl8, dlr8Ct labour costs and those overheads that have been
Incurred In brlnglng Ihe stocks to Ihgir present 10¢8tion and condSllon. Ilems held for dlstrlbution at no or
notnlllol conslderatlon are measured the lower of replacem8nt cost and eost.
Net r881188b18 valu8 IS tho astlmated selllng prfcg le68 all e8Um8t8d co8ts of complallon and costs to bo
Incurred in morkellng. selllng and dlslflbutton.
1.9 Cash and eash equl¥alen18
Cash and cash 8quiv8lenis Indud6 ￿$h In hand, deposlls held al c811 with b8nk8. olh•r short-t8mi Ilquld
Inv88tm8nts wilh OTiginal malurflles ol throa monlh6 or le8s, and bank ov8rflr8fts. Bank ov8rdrafts aro shown
wllhln borTowing8 Sn curiont Ilabllllles.
Boslc Ilnanclal as$•ts
8aslc flnanclal 8888ts. whlch Indud6 debtors and cash and bank bal8ncg8. are Inltlally mèhsured at
Irans8¢llon pr1¢8 Indudlng transactlon eosls and Are subsequenlly carfed at arnort188d cost L+Slng tha 8ff8cIIvo
Interesl method unl855 the arrangement constllules a flnancln9 tr8n88¢1ion. wh8Te th8 Ir8ns8Ction Is
m8asured al Ihg pre58nt value ol lh8 lulure r8celpts dlscounl8d at a m8Tket rat8 of Intarsst. Flnanelal 8s88ts
classlfied as rec9iV8ble wlhln one year are not amortlsed.
11

WEST LANCASHIRE LIGHT RAILWAY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
A¢coun¢ln9 ptsllcl•s
{Contlnued)
Basle Ilnanclal Ilabllltles
Basic finan¢ial118blli1188. ineludlng credllors and bank108n$ are Inltl8lly recognised 8t Iransaclion prico unless
Ihe arTang8menl conslilut85 & flftanclng transacllon, whgr& th8 debt inslrurn8nl 18 m8&sur8d at tha prasont
value ol the lulur8 payrn8nis dlscounted at a market fate ol Interest. Flnanclal IlabllSlles c188slfi8d B5 payablo
thln one y8ar are not amortls8d.
Debt In81rum9nts 8rè 8vb8•quonlly carrled al amortlsed cost. uslng lh8 9ffecliv8 inter88t rBtè mathod.
Trade ¢Tedliors aro obllgalions to pay for goods or seryl¢es Ihal h8V8 been 8cqulr8d in th8 ordSnary course 01
operallons from suppligts. Amounts payable are classlfied as current Ilabllitlgs if p8ym8nt Is due wSthln one
year or less. If not. th8y are presented as non-current 118bllllles. Tr8de cr8dSloTS 8re recognlsed Inltlally at
Ifansaclion prtce and sub88qU8ntly maasu¥6d at amortlsed cost U8lng thg eff8¢1iva inter8$t mathod.
Dere¢oqnltlon of Ilnanclalllabllltlos
FinanclAI IlabllSlles are derecognlsed when tha Cha￿ty$ Contraciual obllgatlon8 explre or arg ¢JI￿har￿8d or
C8ncellod.
12-

1111-
li li

WEST LANCASHIRE LIGHT RAILWAY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2023
Rollway and Edueatlon
2023
2022
Sale
Subscrfptlons
75,940
3.220
69,107
2.649
79.160
71.756
Other Incom•
Unr•8trl¢ted Unr••lrlcled
fvnds
funds
2023
2022
Nat galn on dlsposal of tanglblg fixèd 8ss6ts
24,900
14-

WEST LANCASHIRE LIGHT RAILWAY TRUST
NOTES TO THE FINANCIAL STATEMENTS ICONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Exptndltur• on ¢harfl¥blo OCtlvlllo$
Rallway and Rallway and
oducotlon
gducatlon
2023
2022
Dlrect costs
Dgpre¢lallon and Impalmi•nt
Rent and rates
Insuran¢8
Llght and heat
Te19phon8
Postage and slallonery
Adv8r1151ng
S￿nd￿96
Materi81 purchasas on¢J sundrfes
Transport
Répalrs 8Rd $6ryiclftg
Fundraislng and evgnl ¢o¥t¥
Lqgal 8nd profèsslonal fees
Interest on108n8
2,197
500
7,783
2,565
826
2,128
2.680
5,774
6.611
6,830
14.082
25,619
2,254
2.577
6,033
7,128
1.176
1,164
2.286
7.806
4.771
3,855
7,654
37.871
4,120
4.500
4,500
82,096
93.195
Shar• of $upport and gov•mane• ¢08ts18eo noto 81
Govemanc
2,808
2.376
84,903
95.571
Analy818 by fund
VnF851riet8d fund9- ganernl
Reslrlcted funds
81.932
2.971
94,734
837
84.903
95.571
Support costs
support Governan¢•
costs
o$t•
2023
2022
Aceountenoy fees
2.80B
2,808
2.376
2,80B
2.808
2.376
Analy88d be￿een
Chhrilable activlllos
2,808
2,808
2,376
16-

WEST LANCASHIRE LIGHT RAILWAY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
N•t movèmènt In lund8
2023
2022
The n8t movement In funds Is staled after chaTglnollcredlllng)'.
Fee5 payable for Ihe Independent examination of th8 charitrfs flnanelal
slèlatn8nt5
Depredalion of own8d tangib18 fix￿ 8ss61s
Pfofit on d19posal ol tanglbl8 ffixed assels
2,808
2,197
124.9001
2,376
2,254
Tru$lg9
None of thB trustees lor any persons ¢onn8Cted wllh Ih8m) reeelved ony femunerallon or benefits from the
chBrity during tho yèar.
Employ005
2023
Number
2022
Numb•r
Total
Them wera no employees whD88 annu81 rernungratlon was more than £60,000.
R•mungratlon of k•y managemont P8rsonn•l
The r8mun9r8tlon of kay m&nagem8nt personnel wa8 a8 follow3.'
10 T￿allon
Th8 chartty Is èxampt from taxallon on Its acllvitlgs b8causa 8116ts Income Is applled forch8rf18blg purpo¥es.
16-

WEST LANCASHIRE LIGHT RAILWAY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
11 Tonglblg fixèd #810ts
Frfyfyhold18nd
and bulldlng
Plollt8nd
*4ulpm91
Tot•1
Cost
At 1 January 2023
Addlllons
318.557
7.628
71.708
1,119
390.265
8.745
At 31 Deeomber 2023
328.183
72.827
399.010
0gpre¢latlon ond ITnpalrmgnt
Al l January 2023
Dapreclallon charged In lh8 year
28,887
2.197
28,887
2.197
Al 31 Decemb&r 2023
31.084
31.084
Carrylng amount
At 31 D8C8rnb8r 2023
326.183
41,743
367.926
At 31 Daeembar 2022
318,557
42.821
361.378
12 H•rllag9 4¥¥et•
At 1 January 2023 and at 31 December 2023
17.735
13 Stocks
2023
2022
Raw materi819 and con6umable6
8.641
8.392
14 D¢btor•
2023
2022
Amount• falllng du• wlthln ono year:
Trade debtors
Other d¥btOTS
766
31
429
797
429
t7-

WEST LANCASHIRE LIGHT RAILWAY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
15 LoAni and ov6rdrèft8
2023
2022
Bank108ns
79,600
108.800
P8yab18 ￿thIn on8 y8aT
Payable after one year
31,¢YJO
48,600
31,000
77.800
16 Cr•dltor8: amount8 falllng du• wllhln ong y¥4r
2023
2022
Nolg8
Bank loan8
Accru815 and deferred Income
15
31.000
2.808
31,000
2,376
33.808
33.376
17 Crodltor8: 4mounl8 falllng dug after more than orto y•ar
2023
2022
Nol99
B8nk108ng
15
48,600
77.800
18 R•8lrt￿•d funds
The r981rfct8d lund8 of the charlty comprlse tho unexpended balanceB of donattons and gran18 held on INst
8ubleclto Sp￿1r1C ￿ndItiO118 by donors as to how thay may be used.
At 1 January
2023
In¢omlng Re$our¢es
r•8ource$
expended
At31
Decembgr
2023
Restricted fund
108,843
8,058
12,971}
113,930
Pr•vlou• y•ar.'
At 1 January
2022
Incomlng
f•8ourc•8
R•sourco8
•xpènd0d
At31
0o¢embor
2022
107,096
2,584
18371
108,843
18-

WEST LANCASHIRE LIGHT RAILWAY TRUST
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
19 Unro•tflet•d lundi- dtslgnatsd lund8
Thasa 8rè unrestrtcied funds whlch are materfal to the cha￿ty$ acllvitles.
At 1 January
2023
Tfan#f•rs
At31
Docember
2023
D88lgn8tsd
173,437
37,946
211.383
20 Unrestrlcted fund$
The unre8tri¢18d fvnds of th8 eharfty comprlse the unexpended balances of donalions and grants whlch aTe
not suble¢t lo spedfic condition5 by donors hnd grAnlors as to how Ihey may be used. The88 Indude
deslgnated lunds whlch hav9 b88n $8t 891do out of unrostrlcted lunds by the trustees foT 8peclfi¢ purposes.
At 1 January
2023
Incomlng Re8ource8
r•8OUK•S
gxpgnd•d
Trangfvr•
A131
Decembor
2023
General funds
40.856
129.794
{81,932
137,9461
50.772
Pr•vlouB y•ar.'
At l January
2022
In¢omlng
rgsource•
R88ourc8$
expended
Tran8f•r•
At31
2022
Doslgnated- Ilxed agse18
Gener81 fund8
136.191
66,603
37.246
137,2461
173,437
40.858
106,233
194,734)
202,794
106,233
194,734)
214,293
Tho restd¢ted fund relates to the b818nc8 of 8 donallon r6ceived for tho "Al Acoèss Coach proled. of £2.590
Cfrop Grant £5,391 HLF Grant of £2,162. Choatal 01£2,536, Loco steam 01 £3,600 and CIN of £775 tol8lllng
£17.057.
There are fvrther restrleled funrf8 of £96.876 rolallng to Ihè assels purchased for Ihe dgvelopmenl ol Ihe 81te..
The fixed assets de8lgn8ted fvnd 01 £211.383 represents the nel book value ol Ihg flxed assets, other than
omounls shown wlthln ieslfjcled fundy for fixed &ss8ls, slnce these amounts do not represent Ilquld
resources.
19.

WEST LANCASHIRE LIGHT RAILWAY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
21 Analy810 of not 0$¥gt# b¢tWggn fund$
Unreotrl¢ted Unrestrlttèd
lund8
fund8
general d•8lgnatsd
funds
2023
R•itrl¢ttd
fund$
Tot•1
2023
2023
2023
At 31 0gG•rnbor 2023:
Tanglble assets
Heritag8 a58ets
Current assetsllllabilllie81
Long term Ilabllftleg
191.450
17.735
2,198
176,476
367,926
17.735
39.024
{48,600)
50.772
113,9461
148.6001
50.772
211.383
113.930
376,085
Unr•8trlct8d Unf•#trlctèd
fund8
fund$
o•n•ral do8lgnatod
lund8
2022
R•8trlet•d
fund¥
Total
2022
2022
2022
At 31 Dacember 2022:
Tfjnglble assels
H8rhtage 885els
Curient assetsllllablllll981
Lon9 tami118blli11•g
155,702
17.735
40,856
205,876
381.378
17.735
21,823
177.8001
119,0331
177.8001
214.293
108,843
323,138
22 R•lated party tran8acllon8
There were no dSsdosabl& Te1818d party tfan5actlon$ durlng the yè&r12022- none}.
-20-