BuildAn8 tor the tuture
by learning from the past
Leicester Transport Heritage Trust Limited
Company Limited by Guarantee
Report and Accounts
31 De￿mber 2024
Charity number 1124024
Cornpany number 06406326

Leicester Transport Heritage Trust Limited
(a company limited by guarantee)
Report and accounts for the year ended 31 December 2024
Contsnts
Page
Legal and administralive inforn￿tiOn
Tru8tee8' annual report
2to8
Independent examiners report
gto10
Statement of financlal actlvltles
11
Balance sheet
12
Notss to the accounts
13to18

Leicester Transport Heritage Trust Limited
(a company limited by guarantee)
Legal and adminlstrative information
Charity number
1124024
Company number
064Q￿326 (England and Wales)
Governing instrument
The Memorandum and Articles of Association
Company secretary
C D Jinks
TrusteeslDirectors
R J Womian- Chairman
M W Greenwood
C D Jinks
A P Newland
A G Tucker
T P Follows
R H Bruce
Registered office
8 Ingrams Way
Wigston
Leicestershire
LE18 3TU
Independent examiner
J A Bailey FFA FIPA F￿A
Bailey & Grifftths Limited
offi￿ 17 The Atkins Building
Lower Bond Street
Hinckley
Leicestershire
LE10 1QU
Bankers
Natwest Bank plc.
1 Granby Street
Leicester
LE19GT

Leicester Transport Herftage Trust Limited
la Company limited by Guarantee)
Report of the Trustees for the year ended 31 December 2024
The Trustees who are also the directors of the charity for the purposes of the Companies Act 2006, present
their report with the financial statements of the charity for the year ended 31 December 2024. The trustees
have adopted the provisions of Accounting and Reporting by the Charities: Statement of Recommended
Practice applicable to chartties preparing their accounts in accordance with the Financial Reporting
Standards applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).
Introduction
The directors (also the trustees. for the purpose of charity law) who serrfed during the year were:_
Richard Woman {Chaimian and Restorations Director)
Chris Jinks (Director and Secretary)
Peter Newland (Finance Director)
Mike Greenwood (Director of Archives and Research)
Andrew Tucker (Sales Director)
Trevor Follows (Director)
Richard Bruce (Events Director)
Nigel E99leton continued as President.
Under the requirements of the Memorandum & Articles of Association, the Honorary Secretary and Honorary
Treasurer have to retire in alternate years, each holding office for a two year term. At the AGM held in June
it was the Honorary Treasurer (Peter Newland) who was required to retire. In addition, two of the ordinary
directors are required to retire each year and at the AGM it was Richard Womian and Trevor Follows who
retired. H¢)wever, all three of the aforementioned persons were duly re-elected.
Public Benefrt
Our Pu
oses and Ob"ectives
The purposes of the charty are:
1. To advance public education by establishing and mainlaining for the benefft of the nation
permanent display of historic commercial and public carriage vehicles at a Museum in
Leicestershire and for the like purpose to promote a permanenl preservation of all historic
commercial and public carriage vehicles and equipment, and items of general transport interest
of actual or potential historic or saentific importants and educative value; and
2. To exhibit to the public any such vehicles, equipment and items as aforesaid by means of temporary
or permanent exhibttions and to demnstrate and assist in demonstrating to the public the working and
operatDn of any such vehicles, equipment and related items by means of static or mobile displays
and by carrying the public on such vehicles or otherwise.
Our vision of estsblishing a pennanent museum remains a key objective. During the year the Trust
undertook further minor remedial work and assessment on the Stoneygate Tram Depot and the building was
once again opened to the public (as described later in this report). The trustees therefore believe that, under
the circumstances, our charitable purposes and objectives continue to be successfully met.
The trustees have had regard to the guidance provKled by the Charty Commission on public benefit
reporting.

Achievements and Perfonnance
Herita
e Bus Ral
and Railcar Weekend
uorn & Woodhouse Station
This year's event (with a suitable new title) took place for the first time over both the Saturday and Sunday in
the middle of May when on the Saturday 2,747 passenger trips were recorded (another new record)
which 180 were children
whilst on the Sunday 1,118 were carried (including 112 children) on five different
routes. There were over 50 buses in attendance whilst 53 volunteers helped out on the Saturday and 33 on
the Sunday, boosted by excellent and varied catering facilities. Due to its success a similar weekend event
has already been planned for May 2025.
Workin
Relationshi
with the Great Central Railw
The Trust was able to provide volunteer assistance during eight further days of GCR organised events.
100th Anniversa
of Munici
al Buses in Leicester
This event had been in the planning stages as far back as October 2023. Although three of the directors
attended iwo highly promising meetings with officials of Leicester City Football Club wrth a view to holding a
large event at the King Power Stadium during the summer. we leamed from the club as late as March that
the Football Association had scuppered the arrangement by wanting to stage an event there themselves on
the date planned.
We therefore sought the help of the Cty Mayor and through the wonderful assistance of several members of
the council we were able to stage a Magnrfl￿nt event on Saturday 27 July based both in the grounds of the
very photogenic De Monttort Hall and part of the adjacent Victoria Park wrth 34 free return bus trips made
over the day by as many as 11 different vintage ex-Leicester City Transport buses on a 10 minute frequency
to Stoneygate Tram Depot and back and a further four trips to St. Philip's Church (the location of the very
first outer terminus in 1924).
A total of 1,360 passengers were carried during the day of which 203 were children. Assistance was
provided by 33 Trust volunteers, many of whom were needed to cater for the 800 visrtors at the tram depot.
13 buses gathered at the end of the day for a final informal procession to the tram depot and back. A special
brochure was produced and all but two of the 250 copies printed were sold on the day l The Trust is most
grateful to all the volunteers and private owners of all the buses which took part on this memorable occasion.
Staff at De Montfort Hall. who really bought into the event and who also assisted greatly on the day,
complimented the Trust on the organisation of the event and would be keen to hold a similar event at some
stage in the future. Also, Leicester City Football Club's historian
having seen some of the Trust's archive
material
is now keen to include in a future match day programme a feature on °Football Specials.
operated by Leicester Cty Transport and others. so there were very many positives to come out of all the
interactions.
Local Communrties
A talk was given by a Director to the Leicester & Rutland Famity History Society in May, a bus was taken to
the Western Park Play Scheme in August and a sales stand was provided for the Family History Golden
Jubilee Fair in October.
Website and Media Ex
osure
We continued to receive many enquiries and feedback through our website and were pleased to report thal
there were 4,658 visitors to the websrte. Trust's Facebook page had increased to 5,900 followers around the
end of the year and there were 554 followers of the Trust's °X° (fornierly Twrtter) account.
"Dennis.n.friends' Initiative
Following the success of the first books aimed at children, work started on a third book in the series
concerning the 'Confiden¢e' Routemaster bus in the Trust's associated collection with a 'busonality' called
°Ken.' The "Dennis & Friends. following had risen to 448.

Stoneygate Tram Depot
The Trust continues to lease the building on a peppercom rent basis with an option to purchase the freehold
title from Leicester Cty Council for a nominal sum when the Trust feels that rt is appropriate to do so.
Nevertheless, the council's Estate & Buikling Services department are very much aware that the building
appears on two of the council's local heritage lists and have Continued to negotiate with their own contractors
to provide the Trust with the necessary assistance to ensure that the exterior of the building is not allowed to
deteriorate, with particular attention to the roof slates, guttering and repointing of walls.
During the year, the Trust spent funds on providing pull handles to the panels which had previously been
installed across the entrance to the undercroft. The fire extinguishers were updated in April.
Besides the aforementioned 100th anniversary event. the doors of the tram depot were once again opened to
the public during the year when there were opportunities to sell many donated models and second-hand
books as well offering some interesting new displays. However, the first event was a private one involving a
visit by the Bristol Area Transport Group in April when a party of 25 enjoyed a day of different transport
related historical locations in Leicestershire.
Next came the Clarendon Park Festival in June when 148 adults and 46 chiklren came through the door and
vintage buses provided free rides back and forth to Victoria Park which were used by 469 adults and 102
children.
August saw the annual Oadby Motorfest when 208 adults and 75 children came through the door. There
were 706 adult passengers and 304 children conveyed free of charge on two Trust vehicles and one guest
vehicle backwards and forwards to Oadby in what proved to be a very busy day.
The final public event of the yearwas the Heritage Open Day in September when 143 adults and 30 children
came through the door with similar numbers using hvo altemative free circular rides around the area. Over
the year as a whole, over 1,500 people visited the tram depot.
Vehicle Collection
At the end of the year. the Trusys vehicle collection remained at sixteen, of which fourteen were buses.
It was pleasing to see several of the Trust's vehicles Carrying passengers at many events, notsbly
TBC 50X, FJF 193, ARY 225K. UFP 233S, and PHA 505G although much time was expended by volunteers
in ensuring that these vehicle5 remained roadworthy.
It was also pleasing to note restoration priyJress on the folkMing vehicles owned by the Trust :_
GRY 60D: A 1966 Park Royal bodied eX-LeI￿ster Cty Transport Leyland PD3 saw further work done by
volunleers. Once work was Completed at the front end by the summer. much progress was noted in work on
the rear wheelarch areas.
OJF 191: A huge amount of progress was made during the year on this professional restoration incurring
almost £12,000 in expenditure between Juty and December alone. thus depleting the bus's allocated fund for
the first time, resulting in around half of the aforementioned expendtture needing to be covered out of the
General Account. Consequently, an appeal to Trust members was included wilh the Winter edition of the
'Wheels' journal which was despatched in the middle of December. It was expected that further funds from
an expected (but unconfirmed) legacy would also be utilised in the restoration during 2025. The details and
payment of this legacy were delayed due to the liquidation (in September 20231 of Sterling Trust Corporation
Limited, the company acting in the administration of an ex-Trust memberfs estate. In the circumstances,
work on the bus was suspended from November O￿ardS in the hope that a resumption could be made
during the first half of 2025.
PBC 113G.' A Park Royal bodied Leyland Atlantean had been waiting many years in the restoration queue,
but work finalty began during the summer to assess the condition of the bus and some progress was made
due in particular to the enthusrasm shown by a fairly new member.

As well as minor restoration work to other vehicles. maintenance and repairs to the running fleet were carried
out during the year. Vehicles were rotated between the storage centres during the year to frt it with the
timetsbling for proposed future restoration and maintenance work.
Other Rallies and Events
Vehicles owned by the Trust or its members appeared at many events during the year including
Wellingborough Bus Ralty (April)
People, Places & Events, Snibston Colliery Park (April)
Delaine Bus Museum Heritage Running Day, Bourne (April)
Nottingham Area Bus Society Running Day. Ruddington (July)
Market Bosworth Station Transport Gala (August)
Bus Fest. Sywell Aerodrome (September)
Northampton Transport Heritage, Daventry (September)
Rugby Heritage Open Day (September)
Autumn Running Day & Midland Red 120, Wythall (October)
Archive and Archive Storage Areas
Items added to the collection during the year included
Bus Registration plates and front panels
Photographic Collection from 1976-1983
'Brush° wooden panel (believed to be) from a Leicester tram
Scissors with an inscription to commemorate the opening of the new omnibus garage in 1934
Trophies and Plaques
The most vulnerable and important archive items continued to be kept in storage in the cty centre location
(rental charge £2,000 per annum) whilst many other items were stored (free of charge) inside a large tent at
the tram depot in archive specffied storage boxes.
Vehicle Storage Centres
By the end of the year, the Trust's vehicles were all stored in LeI￿stershire across four srtes (not including
the long tem professional restoration in Stafft)rdshire). The rental payment for the storage of the vehicle
(and archive) collections continues to be the Trust's greatest financial burden. Accordingly, the acquisition of
a freehold site, where the whole or part of the collection can be housed and displayed to the public continues
to be a top priorty for the Trust and possible opportunrties are continualty being assessed.
Throughout most of the year, Trust volunteers continued to spend their Saturdays (and some midweek days)
at one or more of the current vehicle storage centres, either undertaking restoration work or carrying out
essential maintenance work. Their assistance- sometimes in freezing conditions
was once again greatly
appreciated.
War Memorfal
The War Memorial, commemorating Leicester Tramways and Electricity Depathent workers who gave their
lives in the two World Wars, continues to reside in the halfvNay of the deconsecrated chancel at the rear of
All Saints Church, Highcross Street, Leicesterwhere it is cared for by members of the Leicester City, County
& Rutland At Risk War Memorials Project pending ts full restoration. The society hopes that it will be able to
move its whole collection to an improved site in 2025.
Members
We were pleased to be able to recruit 14 new members whiGh took the total by the year end to 230 a￿hOUgh
there were around 35 members who had not yet renewed by that time. The monthly social meetings at
Braunstone Civic Centre continued throughout the year whilst monlhty 'Zoom' meetings were also held from
January to May and from October to December (when there were fewer events being organised, allowing
time for such meetings). The popular high qualty quarterty joumal for members ('V¥heels') was once again
produced in March, June, September and December by editor, Stuart Render.

It is, however, sad to report that during the year we were advised ofthe deaths of members Paul Gray and
Margaret Kent-Francis.
Organisations of which the Trust is a Member
The Trust remained a paid-up member of the following organisations :_
Association of Independent Museums (AIM)
Dennis Bus Owners, Association
Ford Sidevalve Owners. Club
Leicestershire & Rutland Herttage Forum (LRHF)
Museum Development Midlands (MDM)
National Association of Road Transport Museums (NARTM)
National Transport Trust (fonnerty the Transport Trust)
Stoneygate Conservation Area Society (SCAS).
The Trust is also represented on the Land Transport Archive Network (LTAN) which utilises the 'Zoom'
virtual meeting piafform. LTAN is part of The National Archives. The Trust also works closety with
The Bus ArchNe.
Business and Community Relationships
The TrLrst continued to work with major local bus operator First Leicester and the Great Central Rai￿VaY.
Meetings were also held with Snibston Colliery Park and North West Leicestershire District Council with a
view marking the 1 Ooth anniversary of MKlland Red in Coalville by staging a suitable event at Snibston in
September 2025. The Trust was also represented at meetings of the Leicester Cty Council's Heritage
Partnership chaired by the City Mayor.
Local firm, Aspects Engineering Limited, continued to sponsor a workshop space at our main vehicle storage
centre.
Financial Review
The trustees consider the financial result for the period y￿S satisfactory as a result of continued careful
management of expenditure during the year. Membership fees and donations remained our main source of
steady income, with some of the latter being in respect of specrfic projects which are shown within restricted
income funds in the accounts. The remainder were of a more general nature and most were available for
Gift Aid. Happily, sales income also flowed in from the many events held throughout the year.
Out of pocket expenses incurred by directors and members were once again reimbursed by the Trust on
production of the relevant receipts. Some of these amounts were donated back (along with all amounts in
connection with mileage claims).
The opportunty to transact business by card was appreciated more and more by the public, particularly at
our events and it was considered likety that a furthef card machine would be purchased in time for the events
commencing in Spring 2025.
Paypal payments continued to be accepted with the balance being transferred to the currenl account at Ihe
end of each month. We did, however, encounter a problem with Paypal payments in September when
during one weekend it appeared that 18 out of around 350 people had apparently been successful in paying
for some of the Trust's sales items which appeared on the website. However, these transactions were very
quickly found to be fraudulent and all was rectified by Paypal during October when the relevant customers
were refunded.
On 1 February the sum of £50,000 was transferred to a new 95 days, noti￿ Liquidity Management Account
with Natwest earning interest initially at the rate of 4.250h per annum (reducing slightly over the yearl, the
interest of which up to the end of December {£1.826.42) went a long way in paying for one bus's annual rent
at the main vehicle storage centre. However, 95 days, notice was given to the bank on 1 October to transfer
back to the Current Account the sum of £20,000 in the expectation that we would need to utilise some of
these funds in the New Year, not only wtth regard to OJF 191's restoration, but also to draw on more of the
John Page legacy from 2023 to maintain the running fleet.

To complete the banking picture, the Virgin Money account which was by then earning a poor rate of interest
was closed in February.
The Trust's cashflow position was also affected from October to DvEmber as a result of the Trust's
generous￿ agreeing with the private vehicle owners at the main vehicle storage srte that instead of having to
pay six months, rent to the Trust in advance, they would onty be required to pay for three months in advance.
The upshot of the new arrangement is that the Trust's intemal accounting procedures will be greatly
simplified.
No endowment funds are currently held by the Trust. An overall deficii of £10,501 arose (after end of year
provisions) after spending £23,597 on specific projects.
Transfers from the General Fund were made during December to ensure that none of the specific funds
were in deficit at the year end and it is anticipated that this practice will continue for the foreseeable future.
Total restricted funds for specffic projects at the end of the year were £110,795 leaving £29,362 in
unrestricted funds, but prudence in the use of funds remains important.
There have been no signfficant events which have affected the financial results during the year. The
principal risk faced by the charty would be the loss of storage accommodation for its vehicles and archive
items, and the trustees are fully aware of the need to manage this risk and remain vKJilant in seeking a
long-term storage solution.
Structure, Governance and Management
Trustees, Responsibilities, Management and Oryanlsation
Leicester Transport Herrtage Trust Limited is a company limrted by guarantee governed by rts Memorandum
of Association dated 29 September 2007 and its Articles of Association dated 27 May 2017. It is registered
as a charity with the Charty Commission. Anyone over the age of 18 can become a member of the
Company, each of whom agrees to contribute £1 in the event of the charrty being wound up.
The trustees are responsible for the management of the charity and for preparing a trustees, annual report
and financial statements in accordance wrth appluble law and United Kingdom Accounting Standards. The
trustees held seven face-to-face Board Meetings during 2024 and exercise prudent financial management at
all times with updated figures being circulated behveen the directors on a monthly basis by Finance Officer,
Vivienne Foltows.
The Trust's Annual General Meeting was once again held in person on 8 June 2024 with a total of 32 in
attendance. Those present moved a motion to authorise Bailey & Grifftths to carry out the Independent
Examiner's Report in respect of the Annual Report and Financial Ststements for the year ending
31 December 2024.
In order to compty wrf(h Charty Commission requirements the Trust has written policies in place on
Risk Management, Investment, Safeguarding Vulnerable Persons l Beneficiaries, Conflicts of Interest,
Volunteer Management, Code of Conduct, Equal Opportunities, Dats Protection, Driver Responsibility,
Complaints Handling, Recrurtment of Trustees. Health and Safety and the Acquisition and Disposal of
Vehicles, Tyres, Archive items, Social Media, Environmental and Volunteer Working during COVID-19
Restrictions, Collections, Drivers. A new policy being created is one for General Safeguarding.
Risk Assessments are carried out for events which the Trustees arrange and when considered necessary for
outreach activities. Additional insurance cover is taken out when required. Action continues to be taken to
ensure that the TNst complies with the General Data ProtectK)n Regulation (GDPR) which came into force
on 25 May 2018.
Trustees, Induction and Training
All new trustees I company directors are introduced to their new ro￿ and given copies of the
Trust Deed l Memorandum & Articles of Association and guide to the policies and procedures
adopted by the charty. Publications from the Charty Commission are also provided including the
guidance on chartties and public benefrt, thus ensuring that new trustees are aware of the scope of

their responsibilities under the Charities Act. The process adopted by the Charty is that the new
trustees work with the existing trustees assisting on particular activrties and projects run by the
charity. Once the new trustees have gained enough experience. they are given the task of leading a
particular activity or project and, accordingly, of reporting progress at the trustees, regular meetings.
Reserves Policy
The trustees are responsible for setting a Reserves Policy which takes into account the administrative
overheads of the charity. Sufficient reserves are held to ensure that future calls upon the charity can be met
and also as noted under Risk Management. At December 2024 the charty held total unrestricted funds of
£29,362 and restricted funds of £110,795. The restrded funds include £78,956 in respect of the valuation of
the vehicle collection.
Future Plans
The financial statements show that the Trust has continued to progress satisfactorily during the year and we
expect that to Continue during 2025, although reserves are likely to reduce again with the continuing
professional restoration of the 1956 Leyland Tiger Cub single4eck bus and the repairs and restoration work
needed to several of the buses.
With work on the Tram Depot being taken forward as soon as possible, these remain challenging but exciting
times and the trustees expect to demonstrate further our charitable objectNes during 2025.
Risk Management
The trustees have identrfied the princtpal risk to the charity is a lack of guaranteed funding support, which
could result in inability to continue to meet its objectives.
To mitigate this risk, the Trustees plan to build over a time a minimum reserve equal to one year's
operational expenditure. Careful annual budgeting. tight controls on expendtture and effective fundraising
from ¢ommer¢ial and individuals, sponsors and Charitable Trust are important factors in achieving this goal,
and have been pursued vigorousty in the period under review.
The Board has currently drawn up a wrrtten risks register. with a note of planned mrtigations for each
identified risk. This will be discussed, updated and agreed each year.
Small Company Provisions
This report has been prepared in accordance with the Special Provisions for Small Companies under Part 15
of the Companies Act 2006.
The trustees, report was approved by the board on 29th March 2025 and signed on its behaw by
Richard Worman
Chairman
Leicester Transport Heritage Trust Limited

Leicester Trangport H•rttage Trust Lirnlt•d
la compony limlted by guar•nteel
Report of the Independent Examin•r to the TrUIt•￿ of tho charltsble company on tl* occounts for th• end•d 31
D8cemb¢r 2024
I report to the Trustees on my exarnination of the financiol staternents of the charitsbk company on pages 1110 18 for the year
ended 31 Decernber 2024 vthich have been prepared in xcordance ￿1th the chanb.es Act 2011 Ilhe Act) and %Mth the Finanual
Reporting Standard 102, leffectsve 1st January 20161 as modified by FRS 102 SORP Istaternent of Recommended Practi￿ for
Accounting and Reporting by Charities) 2015, las amended by Bulletin ISSU￿ In October 2018 and applrable to all 8ccountiryJ
peri¢yY$ beginning on or after 1st January 20191. (The SORPI. published ty the Charrty Commission in England & Wale5 ICCEW) .
and under the historical ¢y)st convenlion 8TrJ th8 accountirvj pJlK*S set wt on page 1>14.
Respective r•sponsibilitiès of the Truste•s and the Independont ExaminBr and basis of report
As the charitable company's Trustees, a￿ 81s0 fv Directors of the Cornp8ny lor ￿ purpjw of Cornpany law. you are
responsible for the preparation of the financial statements in ac£ordance with the Companies Act 2006, the Charities Act 201 l and
all other applicable law and ￿1th United lfjngdom Generaty Accepted Aco)unting Ptxtsce, appltsble to smaller entities. and fo
being satisfied that the financial statements gwe a true and fair v￿w.
The Trustees considerthat the audit requirement of SeciKJn 144111 of the Ch8ritEs Act 2011 (the Actl doès not apply. and that there
13 no requirement in the rnernor&ndum and artdes of the charrty for the conducting of an audrt. and that the accounts do not require
an audit In 8ccordance wth Part 18 of the Companies Acl 20C6 and that no rnember or members have requested an audit pursuanl
to Section 476 olthe Companies Act 2006. As a consequenrA. the Trustees have *cted that the finan￿al statements be subjeet to
independent exarninatb)n.
Having satisfied myself that the financial statements are rY>t requireil to be aLKlrt•J uThJer any legal provison, or othemse. 8nd a
eligible for independent examination. it is rny responsib￿lty to-.-
al examine the finanaal Statements of the chanty under Section 145 ofthB Act..
bl follow the applicable wctedure$ in the Directions gNen by the Charity Comrnission undef section 14515llbl of the Act.
Basis of Inde￿ndent Exami￿￿$ Slaternent and scope of TAI)rk undertaken
I report in respect of rny examination of the tharivs finanri81 statements Car￿ out under s145 ofthe Act. In carrying oul my
examination. I have fOll￿d all the applKable Direction5 given by the Charty ComMiss￿n under section 14515llbl of the Act setting
out the duties of an independent exarniner in ¢elatil￿ to the conductiryJ of an independenl examination. An independent examination
includes a ￿vieW of the ac£ounting recA)rds kept by th8 tharitsble company and of the ac£ounting systems em ￿0Yed by the
Charitab￿ company and a comparison of Ihe financial statements presented knith those r￿r￿s. It abo indudes con51deration of any
unusual items or disdosu￿s in the financial statements. and seeking exrdanations from you, as Truste85, concerning such matters.
The purpose of the examin&tK)n is to estsblish as far as p0s￿ble that ih8r8 have been no breaches of charity ￿l$lation and thaL on
a test basis of evidence re￿Vant to the amounts and disdosures m&Ye. Ihe finar￿181 staternents cornpty the SORP.
The procedures undertaken do not provide all Ihe evidence that ￿Uld be required in an atyjit. and infom)ation supplied by the
Trustees in the course of the exarninatk)n subj8¢ted to audit tests or er￿UlneS and does cover all the matters that an
audrtor I￿)Uld consKler in amving at an opinion. The ￿ann1ThJ and cond￿1 of an audrt goes beyond the limited assurance that an
independent examination can provide.
Consequently, I do not express an a￿￿1t opinitin on Ihe vwwgNen by the ffinancial ststements, and in parficuLqr. l express no opinion
as to thether the fiThan￿81 statements giv& a true fair of Ihe affairs of the chanty. a￿1 my rerort is limrted to the matters Bet
out in the $tsternent belcw.
I planned and perfomied my &y2minat￿￿n so as to satsfy rnysell that the obi￿t￿e5 ofthe irknJepeTrJent examinat￿ are achieved
and before finalising the report l obtained V*Titten assuraThx frcffi the Trust￿ of gjl mate141 matters.
Independent Examine￿? Ststernert Report and Opin5on
Attention 13 dr8vm to the accounting tdicy statirrfJ that. no￿￿thS￿￿￿1ng the eXpl￿1t requirement in the exlant statutory ￿gulabO￿$,
the Charities (Account5 and Reports) Regufations 2008, to Prepa￿ the financial statements in acujrdance wlh the SORP 2005, in
view of the fact that the SORP 2005 has been wlhjraw). in order b accord *ith cur￿n1 best practice, the Trustees have
detem)Inecl to prepare the financol ststements in accordance ¥￿th th8 FRS 102 SORP Islatement of RecDmmended Practice for
Accounting and Reportiry by Charrtie51 2015. 185 arnended by Ihe Bulatin ssued in October 2018 and applub18 to all accounti
periods b89inning on or after 1st January 20191,1Th8 SORPI. . l o)ncw wth this appn)ath. and any ￿le￿nceS in my report to the
regulats'ons should te read subject to this commenL
Subject lo thg lirnilattons upjn th8 8CQPg of my Kirk as detaled above, I have completeLI my ey•mln8b￿.' and can confirn th8t'.-
The accounts of this charitab￿ company are Thjt requ¥e*J to b8 audrted under Part 16 of the COMpank￿ Act 2￿6..

This is a report in reSp￿t of an exarnination ￿rned out under 145 of the Ad and in a¢cordance wth DI￿10Th5 given by the Charty
Commission under SeCt￿n 14515llbl of the Act which moy ￿ applicab￿",
and that no rn3terial matters have come to my attontion in connoctKm *ilh the exarninat￿ giving m& c•uso to telwe thal in any
rnaterial re5P8Ct".-
1. accounbng records were not k•pt in res￿￿ ofthe dhprty as requir•J by secb.on 386 ofthe Compani8$ Act 20LK and Section 130
of The Charities Act 2011",
2. the financi81 staternents do not accyyd *iih fv)se rpcovds", or
3. the financial statements do not comply ¥￿th the 8pplic4ble wuirements concemir¥J the lorni and content of ac£ountS Set out in
$8Ction 396 of the Comp8ni8s Act 20C6 other than any rwul￿Ment th91 the accounts give a IruE and fairf view, thich is not a rnatter
considered as part of an independent exarninatK)n'.
4. have not been prepared in accordance %Mth the methods and prinupbs set out in the FRS 102 SORP Iststernent of
RecA)mmended Praclirn for AccountiThJ and Reporling by Char￿e$l 2015. las 8rnended ty Ihe Bumebn issued in October 2018 and
applicable to all accounting perh?ds beginning on or after 1st January 20191. (The SORPI.
I have no conc•ms and have come across no other matter¥ in o]nneCti￿ *ith the eXaMw￿l￿5n k) attentKJn should be dr￿ in
thi5 report in order to enable a proper understsnding ofth8 finan¢yal *atements to be ￿￿￿d.
J A Bailey FFA FIPA FFTA
Bailey & Griffiths Limited
Office 17 The Atkins 8uslding
Lower Bond Street
Hinckley
Leicestershi
LE10 1QU
29 March 2025
10

Leicester Transport Heritsge Trust Limited
(a company limlted by guarantee)
Statement of Flnancial Activities lincluding the Income and Expenditure Account
for the year ended 31 December 2024. as required by the Companies Act 2006)
Unrestricted
Restricted
Funds
Fund5
2024
2024
Note
Total Funds
2024
Total Funds
2023
Income and Endowments from:
Donations and legacies
Charitable activities:
Activities for generating funds
22,747
11,003
33,750
46,465
38,449
3,109
41,558
34,908
Investment income
2,078
2,078
589
Totsl income
63.274
14.112
77,386
81,962
Expenditure on:
Raising funds
8,738
8,738
10,460
Charitsble activities
34,3
44,753
79,149
67,939
Totsl expenditure
43.134
44,753
87.887
78,399
Net incomelexpenditure
for the year
12
20,140
-30,641
-10,501
3,563
Transfers between funds
-21.770
21.770
Net movement in funds
-1,630
-8,871
-10,501
3,563
Reconciliation of funds:.
Total funds brought forNard
30,992
119,666
150,658
147,095
Total funds carrled foNard
29,362
110.795
140,157
150,658
All activities derive from continuing operations.
The notes form an integral part of these accounts.

Leicester Transport Heritage Trust Limited
la company limited by guarantee)
Balance Sheet as at 31 December 2024
Unrestricted
funds
Restricted
funds
Notes
2024
2023
Fixed assets
Tangible assets
78,956
78,956
78,956
Current assets
Debtors
Cash at bank and in hand
2,431
33,342
35,773
2,431
65,277
67,708
2,588
81,094
83,682
31.935
31,935
10
Credltors.. amounts falling due
within one year
-6,411
,507
-11,980
Net current assets
29.362
31,839
61,201
71,702
Total assets less current
liabilitles
29,362
110,795
140,157
150,658
The total net assets of the charty
29,362
110.795
140,157
150,658
Charity funds
Unrestricted funds
Restricted funds
29.362
29,362
110,795
30,992
119,666
110,795
Total funds
29.362
110,795
140,157
150,658
The directors are satisfied that the company is entitled to exemption from the requirement to obtain
an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtsin an audit in accordance with section 476 of
the Act.
The directors acknowledge their responsibilrties for complw'ng wth the requirements of the
Companies Act 2006 with respect to x¢ounting records and the preparation of accounts.
The charty is subject to Independent Examination under charty legislation, and the report of the
Independent Examiner is on pages 9-10.
The financial statements have been prepared in accordance with the provisions in Part 15 of the
Companies Act 2006. applicable to companies subject to the small companies regime.
R J Worman
Chairman
29 March 2025
12

Leicester Transport Heritage Trust Limited
(a company Ilmited by guarantee)
Notes to the Accounts for the year ended 31 December 2024
1 Accounting policies
Basis of preparation and accountlng convention
The financial statements of the charitable company. which is a publ￿ benefit entty
under FRS 102, have been prepared in accordance with the Charities SORP {FRS 102)
'Accounting and Reporting by Charities: Statement of Recommended Practi
applicable to charities preparing their accounts in accordance wth the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS
102) (effective 1 January 2015)'.The Financial Reporting Standard 102 The Financials
Reporting Standard applicable in the UK and Republic of Ireland and the Companies
Act 2006. The financial statements have been prepafed under the historical cost
convention.
Financial reporting 102 - reduced disclosure exemptions
The charity has taken advantsge of the following disck)sure exemption in preparing
these financial statements, as pennitted by FRS 102 The Financral Reporting Standard
applicable in the UK and Republic of Ireland:
- the requirement of Section 7 Statement of Cash Flows
Income recognition
All incoming resources are recognised in the Statement of Financial Activities once the
charity has entitlement to the funds, it is probable that the income will be received and
the amount can be measured reliably.
Voluntary income is received by way of donations and gifts and is included in full in the
Statement of Financial Activities when receivable. The value of services provided by
volunteers has not been included.
No amount included in the financial statements for volunteer time in line with the SORP
(FRS 102). Further detsils are grrfen in the Trustees Annual Report .
Fixed assets gifts in kind are recognised when recewable and are included at fair value.
They are not deferred over the lrfe of the asset.
For legacies, entitlement is the earfier of the charty being nottfied of an impending
distribution or the legacy being received. At this point income is recognised. On occasion
legacies will be notified to the charty however it is not possible to measure the amount
expected to be distributed. On these ¢x¢asions, the legacy is treated as a contingent
asset and disclosed.
The charity receives govemment grants in respect of repair of the buses. Income from
government grant and other grants are recognised at fair values when the charty has
entitlement. The grant is recognised when it is probable that the income will be received
and the amounl can be measured relBbty.
Expenditure recognition
Liabilities are recognised as expenditure as soon a8 there is a legal or constructive
obligation committing the charty to that expendrture, it is probable that a transfer of
economic benefits will be required in settlement and the amount of the oblvJation can be
measured reliably. Expenditure is accounted for on an accruals basis and has been
classified under headings that aggregate all cost related to the category. Where costs
cannot be directly attributed to particular headings they have been albcated to acttvities
on a basis consistent with the use of resources.
13

Leicester Transport Heritage Trust Limited
(a company limited by guarnntee)
Notss to the Accounts for the year ended 31 December 2024
Accountin
olicies - cont'd
Tangible Fixed Assets and Depreciation
Tangible fixed assets are capitalised and included at cost or valuation together with
any incidental expenses of acquisition. No depreciation is provided on motor vehicles,
as in the opinion of the TrUSt￿S there is no permanent diminution in value of these
assets as a resuft of extensive maintenance and restoratKin of the vehicles owned by
the Trust.
Depreciation is provided on other r￿ed assets at rates calculated to write off the cost
less residual value of each asset over its expected useful lrfe, as follows:
Fixtures and r￿IngS
25% on cost
Taxation
The charity is exempt from corporation tax on ts charitable actNtties.
Debtors and creditors receivablelpayable wlthin one year
Debtors and creditors are stated at transaction price.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and cash on deposit.
Funds acGounting
Restricted funds are funds that can onty be used for particular restricted purpose
within the objects of the charty. Restrictions arise when specrfied by donor or when
funds are raised for a particular restrided purpose.
Unrestricted funds are incoming resources receivable for expenditure on the
general objectives of the charty. Transfers behveen funds are made where
necessary.
Designated funds comprise unrestricted funds that have been set aside by the
trustees for particular purposes. The aim and use of each designated fund is set out
in the notes to the financial statements.
Further explanation of the nature and purpose of each fund is included in the notes
to the financial statements.
Leases
Rentals payable and receivable under operating leases are charged to the SOFA on a
straight line basis over the perDd of the lease.
Going concern
The financial statements have been prepared on a going concern basis as trustees
believe that no material uncertainties exist.
14

Leicestsr Transport Heritage Twst Llmltsd
(a company lirnitsd by guarnntso)
Notes to the Accounts for the yoar ended 31 December 2024
Unrestrlcted R8strictsd
Funds
Funds
2 Donatlons and l•gacies
Total
2024
Unrnstrictsd Restricted
Funds
Funds
Totsl
2023
Donations and legacies
Grants, awards and sponsorship
Grft Aid
12,021
4,445
6.281
11,003
23,024
4,445
6,281
11,607
6,755
5,533
18,420
4,150
30,027
10,905
5,533
22.747
11.003
33.750
23.895
22,570
46,465
3 Charitable activltieg
Unrestricted Restrictgd
Funds
Fund8
Totsl
2024
Unrestricted Restricted
Funds
Funds
Total
2023
Activities for generating funds
Membership subscriptions
Rent
Entrance fees
Sales
Members lottery
7.440
20,400
2,043
8,566
7.440
20.400
2.043
8,566
3,109
5,672
15.120
4.532
6.757
5,672
15,120
4,232
6.757
3,127
3.109
3,127
38.449
3,109
41.558
32,081
3,127
34,908
4 Investment income
Unrestricted Restricted
Fund8
Funds
Totsl
2024
Unrestricted Restricted
Funds
Funds
Totsl
2023
Interest receivable
2,078
2,078
589
589
S Raising funds
Unrestrictod Re8trictsd
Funds
Funds
Total
2024
Unre8tricted Restricted
Funds
Funds
Totsl
2023
Mileage expenses
Publications
Advertising, subs & donations
Goods PLtrchased for resale
Bank chargeslPaypal
3.571
2.676
998
1,416
3,571
2,676
998
1,416
3,728
3,147
1.654
1.848
83
3,728
3,147
1,654
1,848
83
8.738
8,738
10,460
10,460
6 Charitable activitie8
Unrestricted Restricted
Funds
Funds
Totsl
2024
Unrestiicted Restrf¢tsd
Funds
Funds
Total
2023
Activities for generating funds
Rent
Fuel
ReslorationlmateriaLs
Road Lix
Insurance
Breakdown insurance & MOT
Towinglrecovery
Members meeting costs
Archive items
Utilities- electrierty
Members lottery prizes
Website
Support costs
Stationery, postsge & consumables
Sundries
Independent exarniners fees
Protessional fees
24,C60
1.093
2,682
17,160
41,220
1.093
18,296
18,739
1.599
15,720
34,459
1,599
15,132
15,614
14,568
1,398
1,475
1,264
2,873
1,264
1,440
1,605
1.280
3,045
1,280
1,676
1,676
7,983
391
645
13
1.498
1,498
6,934
393
765
13
7,983
391
645
6.934
393
765
13
13
1,311
659
1,380
124
221
1.532
659
1.380
124
1,106
309
1.380
13
13
1.119
309
1,380
13
34,396
44.753
79.149
26.661
41,278
67,939
15

Leicester Transport Heritage Trust Limited
(a company limited by guarantse)
Notes to the Accounts for the year ended 31 December 2024
7 Fixed assets
At cost or
Accurnulated 2024
valuation Additions Disposals depreciation
Total
2023
Total
Motor vehlcles
Leyland Titan PD2 FJF 193
Leyland Tiger Cub OJF 191
Ford Van PRY 808
Leyland Titan PD3 264 ERY
BMMO D9 6314 HA
Leyland Tilan PD3 GRY 60D
Leyland Atlanlean PBC 113G
BMMO S22 PHA 505G
Metro Scania ARY 225K
Melropolitan UFP 175S
Dennis Dominator UFP 233S
Leyland Leopard BAH 809X
Dennis Dominator TBC 50X
Leyland Olympian A502 EJF
Scania L113 CRL S350 MFP
Kirby & Wesl Milk Float WRY 342
Fixtures & f￿ingS
20.Crf))
1.539
1.9Crf)
10,0fy)
20,000
1,539
1.9￿3
10.000
1,000
3.000
517
10,000
5,000
2.OlXI
s,￿0
6,000
5,500
2.000
5,000
5¢XI
20,000
1,539
1.9(J)
10.000
1,000
3,000
517
10,000
5,000
2.00)
5.000
6.000
5,500
2,000
5,000
500
517
10.1
2.000
145
145
79,101
145
78.956
78,9
The market value of the motor vehides have not changed since last year and therefore no adjustments
were required to be made in these accounts accordingty.
Debtors
Unrestrfcted Restrlcted
Funds
Funds
Total
2024
Total
2023
Trade debtors
Grants re￿1vable
Prepayments
Tax refund receNable
251
220
76
1,884
251
220
76
1,884
236
21XJ
73
2,079
2,431
2,431
2,588
9 Creditors: amounts falling due within one year
Unrestrlcted Restricted
Funds
Funds
Total
2024
Total
2023
Trade creditors
Membership subscriptions received in advance
Rent received in advan
Independent examiners fee
A￿rual$
Professional fees
Sponsorship in advan
Electricty- tram shed
251
4,780
251
4,780
237
4,518
3.840
1.380
1,380
70
70
70
1,900
35
26
6.411
6.507
11,980
16

LeiGester Transport Heritage Trust Limited
(a company limited by guarantee)
Notes to the Accounts for the year ended 31 December 2024
Unrestricted Restrlcted
Funds
Funds
10 Funds of the Charity - Allocation summary
Total
2024
Totsl
2022
General account
Rent account
Archive
Tram Depot
Legacy
FJF 193
OJF 191
PRY 808
264 ERY
6314 HA
GRY 60D
PBC 113G
PHA 505G
ARY 225K
UFP 175S
UFP 233S
BAH 809X
TBC 50X
A502 EJF
S350 MFP
35.773
35,773
39,027
3,840
1,065
1,907
8.588
1,208
5,400
663
1.133
3,186
2,213
1,140
1,249
2,312
1.791
2,144
1,636
2,131
2,142
907
1,087
1,062
6,372
763
1,008
663
1.974
3,206
2,086
1,052
2,048
1,993
1,088
1,925
731
2,021
2,092
764
1,087
1,062
6,372
763
1.008
663
1,974
3,206
2,086
1,052
2,048
1,993
1,088
1,925
731
2,021
2,092
764
35,773
31,935
67,708
83,682
The above balances split as follow5:
Unrestricted Restricted
Funds
Funds
Total
2024
Total
2023
Debtors
Cash at bank
2,431
33,342
2,431
65,277
2,588
81,094
31,935
35,773
31,935
67,708
83,682
11 Movement in funds
Transfer
Asat
movement between
0110112024 in funds
funds
Asat
3111212024
Unrestricted funds
General fund
30,992
20,140
-21,770
29,362
Restricted fund
Restricted funds
119,666
-30.641
21,770
110,795
150,658
-10,501
140,157
17

Leicester Transport Heritage Trust Limited
(a company Ilmited by guarantee)
Notes to the Accounts for the year ended 31 December 2024
12 Net movement in funds. included In the above are as follows:
Incoming Resources Movement
resources expended
in funds
Un￿strICted funds
General fund
63,274
43,134
20,140
Restricted funds
Restricted funds
14,112
44,753
-30,641
77,386
-87.887
-10,501
Restricted funds
The restricted funds are made up of tangible assets as in note 7 of £78,956 less a creditor
of £96 in note 9 plus funds balance in note 10 of £31,935.
Transfers made between the unrestricted and restricted funds during the year was £21,770
to cover the overspend in the restricted funds.
13 Stock
Stock of publications and goods for resale are prudently wrttten off vthen purchased. the
value of stock at cost at 31 December 2024 and 31 December 2023 was not material.
14 Trustees, remuneration
None of the trustees received any remuneration during the year (2023 - £nil).
15 Trustees and members expenses
Mileage expenses of £2,331 were paid to 2 trustees and £1.240 to 4 members (2023 - £2,641
paid to 4 trustees and £1,087 to 2 members) - these were donated back to the trust.
16 Related party dlsclosures
There were no related party transactions for the year ended 31 December 2024.
17 Amounts payable to Independent examiner
The amount paid to the independent examiner was £1,380 (2023 - £1,380).
18 Company limited by guarantee
The company is limited by guarantee arKI therefore does not have any share capital.
19 Other financial commitments
The Gompany has annual rental commitments of £2.000 on a rolling basis.
18