by leArrLing ti'oiii tlie pdsl Leicester Transport Heritage Trust Limited Company Limited by Guarantee Report and Accounts 31 December 2025 Charity number 1124024 Company number 06406326 Lelc¢st?r Tr#nsport Herltago Trust Limited la company Ilmlled by guarantee) Report and accounts for th• yèar •ndéd 31 D8c8mb•r 2025 Content8 Pag• Logal and administrativg inforniation Trustses. annual raport 2to8 Independont •xamlners report 9tolO Slat•m•ftt of financlal a¢tiviti•s Balanc• 5h88t 12 Notes to the account5 13to18 L6le•st•r Tran3POrt Heritage Trust Llmltad 18 company Ilmlted by guarantee Legal and admlnistrative Inforrnatlon Charlty numbèr 1124024 Company number 06406326 IEngland and Wales) Gov•rnlng Instrument The Memor8nduM 8nd Articl&s of Associalion Company s•crntary C O Jlnks TrusteeslDlrectors N Eggleton - Chairman M W Greenwood C D Jinks A P Newland A G Tud<&r T P Folk)ws R H 8nJc8 Reglstered offSc• 8 Ingrams Way Wigslon Leicestershire LE18 3TU Indapend•nt èxam5nar J A Bailey FFA FIPA FFTA Bailey & Griffith5 Limited offi￿ 17 The Alkins Building Lowar Bond Slrael Hinckley Leicestershir8 LE10 1QU Bankèrs Natwfjst Bank plc. 1 Granby Street Loicgstgr LE19GT L8lcest•r Transport Horitag• Trust Llmlt•d {a Company limit•d by Guarant••l Rgport of th• Trugtggs for thg ygar •nd•d 31 D•cgmbar 2025 The Trustees who are also the directors of the charity for the purposes of the Companies Act 2006, present their report with tha linancial statements of the ch8rlty lor the year gnded 31 Docgmber 2025. The trustees have adopted the provisions of Accounting and Reporting by the Charities.. Slalemenl ol Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland IFRS 1021 lelfective 1 January 20151. Introdu¢tlon The directors (also the trustees, for the purpose of charity lawl who sèrved during the year were:. Richard Worman (Chairman and R98to¥ations Oiroctor) Chris Jinks IDireclor and Secretary) Peter Newland (Finance Difeclorl Mike Greonwood (Director of Archives atKI R8s88rchl Andrew Tucker (Sales Dir8Ctorl Trevor Follows (Director) - Restorations DIr￿tOr from 28 May. Richard Brucg (Events Directorl Nigel Eggleton (new Ch8irm8nl - from 28 May. until Slepping down on 28 May. After 18 years ol servic¢ lo the Trust, Richard Worman decided to slep down as Chairman and Director and was glven a new tille of Chief Engineer to enablè him lo ¢oncentrale on vehicle restoration and tHainlenance work. Under the requirements of the Mernorandum & Artides of Ass0¢181ion, the Honorary Secretary and Honorary Treasurar havg lo relira in allernale years, each holdi￿ offlce foi a year term. Al the AGM held in JLJne it was the Honorary Secretary (Chri5 Jinks) who was required lo retire. In addition, o of the ordinary direciors are required lo retire each year and al the AGM il was Mike Greenwood and Richard Bruce who retired. We were delighted Ihal Nigel Eggleton agreed lo become our new Chairman and Director bul under th6 lerrns of his appointment tte was also required lo retire al the AGM. However, all four of the aforementioned persons were duly re-elected. Richard Woman was also presented with a gift in recognilion of his service lo Iha Trust as a Board membèr. Publlc B•n•flt ses ves The purKX)ses of the charity are.. 1. To advanc8 publlc eduraiion ty esiabllshirKJ and malnlalnbng for the benefit of the nation a permanent display of historic commercial and public carriage vehides at 8 Museum in Leicestershire and for the like purpose to promote a permanent preservation of all hBtori¢ commor¢i81 and publr Carriage vehicles and equipment. and items of general transport int8r&sl of actual or potential histori¢ or Scientif￿ importance and educative value- and 2. To exhibil lo the public any such v8hlcles, equipmènl and items as aforesaid by mgans of temporary or permanent exhibiliuns and lo demonstrate 8nd assist in dernonstraling lo the public the working and operation ol any such vehic18s. equipment and related item5 by mean5 of static or mobtle displays and by carrying the pubtic on suth vehidès or olherwise. Our vision ol esiablishing a permanent museum ramains a key objective. During the year the Trust undertook further minor rernèdial work and assossmenl on the Stoneygate Tram Depot and the building wes oncè 8gain opened lo the public las d8scribe¢J laier in this reportl. Th8 Irustees therefore beliève that, under the circumstances, our charitable purposes and objectives continue to be successfully met. The tr*Jst8ès have had ragard lo the guid8n¢e provided by the Charity Commission on public benefit rgporNng. Achl•v•mènts and P•rfomian Annual Bus & Rail S ectacular Quorn & Woodhouse Slalion This year's event took place for the second lime over both the Saturday and Sunday in the middle of May when on the Saturday 2,554 adijll passgnger trips plus 270 children were recorded whilsl on the Sunday 1.877 adults were carried plus 336 children on five different routes. There were over 50 buses in attendance whilst 45 volunteers helped out, boosted GCR volunteers. Addftlonal attracllons wgre held for children on the Sunday wh1ch boc)sled the attendance. Due lo ils suc¢8ss a similar weekend event h8s already been planned for May 2026. In advance of the event, a training day was held in March following which certifi¢ale$ were issued lo those taking part. Workin Relationshi with the G￿81 Centro Ra Thg Trust was able lo provide volunteer assi8lan¢g during 12 further days of GCR Ofganised events. Midland Red's Coalville Gara 1001h Anniversa To mark this o¢c8$ion, an gvant Was 8rrang8d in September al thè Snibslon Colliery sil8 whan 23 busgs were crammed into the site for what was a very $uc¢as$lul day. Thre& buses on three main routes carried a totsl of 1,109 adults plus 226 childr9n. Th& 8vent received much acclaim afterwards, eclipsed by the Trust and its CO-Drganisers b&ing praised in the House of Commons by North West Leicostèrshire M.P. Amanda Ha¢k duflng the regul8r Thursday weekly Business questions lo the Leader of ihe Housg. In December, a further more k)w-key 8v8nt was held again al Snibston, primarily for thè launch of Mo books by sep8rale 8ulhors on the history of Coa￿418 Garage. Local Communities A ialk was given in J8nu8ry by a Director to the Rotary Club of Oadby at th8 Glen Gorse Golf Club when another director was also in attendan¢e. In February, Ihr88 director5 were aboard bus PHA 505G lo help wilh a BBC Radio Leicester breakfast time mobile outside broadcast lasting four hours lo pres8nt"Make a Difference Awards. to the general public. In March, Iwo directors attended a Heritage Event at the Percy Gee Building, University of Leicester. In November, three directors a8818t&d one of our mernbers who put on a private loc818rtofacls exhlbition ai the Belmont Holel, Leicester. In Do¢gmber, two dir8ctors and a further Trusl m9mbgr attgnded the Bfaunstone History F81r. Ex We continuad lo recaive many anquirias and feedback through our website an(1 were pleased to report that there were 3,964 visitors lo thè website. The Trust's Facebook page had increased to 6,300 followgrs and there worts 550 follow8rs of the Trust's"X' {fom8rly Twill&rl account. 'Dennis.n.friends' Initiative Two more story books were produced duiing ihe year entitled 'Tony & Ken's Big Adventure ° and 'Alex's Bus & Train Spectacular" along wtth a $gp8r8le activity book. stoneygate Trarn Depot When the Trust first cccupied the tram d8pot in 2013 under the l8rrns of a "peppBrcorn" renl Leas8 Iro Leicester City Council I'LCC l il was always the intention Ihal one day the Trust woul(5 acquire the freehold title. Alongside the various Leases down the years, Option Agreements were put in place to enable the Trust to acquire the depot for a norninal £1 consideration as agreed by the City Mayor back in 2013. Since 2021 tho Trust has spent signili(*nt sums on the building in repairs and improvements and so the ire¢tors decided in June that the acquisition of the freehold lille should now go ah8ad. A fnegling was held with the City Mayor in July when it was agreed Ihal the Trust could indeed piJr¢ha8e the b*Jilding for £1 subject lo the completion of certain paparwork. Over many wèèk$ a very detailgd Business Case Form w88 completed and in September (following respons8s lo furthèr fninor qu&slions rais8dl wa w&rg advis8d that LCC werè happy for Ihg Iransmclion lo pro¢e8d. Howev8r, in order to protèct th& inler8sls of both the Trust and LCC, il is necessary for certain resthctlvg coven8nts lo bo incorporated into the Land Registry Transfer document. Work on these clauses b8gan Lluring the last month5 of the year when it was hoped that matters would be concluded during the first half of 2026. In the meantime, some work was Carried out during the Spring months lo refix some slipped glass roof light panels whilst later in the year work was undertaken lo fix a downpipe blockage. Tuming to events held at the depot, we opened the dotsts for the first time on Easter Sunday with a free bus tour when 140 adults and 19 Children were carria¢J using two heriiage buses. The next event look place in June in conjunction with the cla￿ndOn Park Summer Festival wh8n IoLtr buses were on duty carrying 875 adults and 233 children. A further Open Day in July saw 149 adults and 47 chiklren carried whilst the Ozdby Motorfest in August saw the Trust link up once again with the vintage vehicle attractions in the centre ol Oadby. Threè buses were on duly (including a guest from Northamplonl whan 710 aduks and 359 children were carrigd. Finally, on a iny Saplèmber Hèritage Open Day. 125 adults and 34 children were carried using two buses. Apart from the final gvgnt (which is always advertised as free adrnissionl the Trust took some usefLJI entrance feo income for the constsntly Ghanging exhibitions. Income was incrtsastsd from sales of models following the doalh of member Dale Tringham. Vohl¢l• Coll•ction By the end of the year, the Trust'$ vehicle collection had been increased lo 17. of which 15 were buses. DBC 190C -. 1965 East Lancashire bodied ex-Leicester Cil Trans ort front entr n¢e AEC Renown. We were delighted in March to be offered the chance lo acquire this bus which is fully roadworthy and some ol Ihg storage costs have been covered by generous don8llons from Trust members. GRY 60D." 1966 Park Ro al bodied ex-Le1￿sIer Cil Trans rtLe land PD3A11 Much resloralion progress was made by Iwo volunlaars (in parti¢ul8rl during the year, especi811y with regard to the wheelarch8S. JF 191.. 1956 m8nn odied Le land Ti er Cub PSUC111 11 is disappoinling lo record that very little progress wa5 Made during th8 ye8T on the professional rgsloraiion ol this bus following the enforced suspension tsf the work In late 2024, the restorer instead choosing lo concanlrata his afforts on another bus in his custody. Nevertheless. som8 expenditure was made on saat covering and materials backgd by a grant from NARTM. PBC 113G.. 1969 Park Ro al bodied Le land Atlantean PDR1A11 Considerable Work has bèen Garried out by one voluntaer Sn respect of pan&lling and work to the cab area and thg Trust is grateful lo him for donations he has made towards the cost of the work carried out. As well as rninor restoration work to other vehidgs, mueh work in the form of rnaint8nanc8 and repairs lo the running fleet were carried out during the year. Notable work included the many hours spent on rectifying a fuel siarvallon problem on FJF 193 an(J a refurbished compressor on UFP 233S. Parts purchasèd lo alleviate the problems were purchased using some of Ihe"John Page. fleet maintenance legacy fund. Vehicles were rotated beiwèèn the slorage centres during th8 year to fit it with the timetsbling for proposed future resloralian and maintenance work. Indeed, during November, BAH 809X was transferred from ouldoors al Gaddesby lo indoors al D8sford Ilaking the plèce ol a private owner vehicle which had beon sold) lo reassess th8 work require(J going forward. Other Ralli•$ #nd Events Vohid8s owned by the Trusl or its members appea￿(1 at many evenis cluring the year including Vvellingborough Bus Rally IAprill Delaine Bus Museum Heritage Running Day, Bourne (Aprill Rugby Heritage Open Day (Septemborl Statbus, Starfold Barn Iseptemberl DawsbLJry Bus MusaLJm Autumn Running Day (Novomber) Archlvo and Ar¢hlv• Storag• Ar#a8 Items added to the cdlection wère vast durlng the y¢ar, tho most notable being -" Inscribgd palr ol scissors used for the 1934 official opening of the °new' Abbey Park Road bus garage. Ultimale Ticket Machines with shoulder cash bags. Collectlon of Mater￿81 from N.&S. Coaches. 1961 LCT Destination 81ind. 1925 framed PTiiII of Mi¢Jland Red's short-lived depot in Welford Road. The most vulnerablE and importanl arGhive items continued to be kept in slorage in Ihe city centre location I￿nI81 charge £2,000 per annuml whilst many olher items were stored (free of charge) inside 8 18rge lent al the tram depot in archive specifi&d storage boxes. Vehicle Storage C•ntrè* By the end of the year, the Trusl's vèhicles were all stored in Leicestershire across four silgs Inol including the long term professional restoration in Stsffordshirel. The rental payment for the storage of the vehicle land archivg) collections continues to ba tha Trust's grgaltsst financial burd8n. Accordingly, th• acquisition of a Ireehold site, where the whole or part of the collection can be housed and displayed to the public continuès to bg a lop priority for the Trust and possible opportunities are continually being assessed. Throughout most of th8 yèar, Trust volunteers continued to spend their Saturdays18nd some midweek d8ysl at one or more of the current vehicle storage cenlres, either undèrtaking restoration work or Carrying out essential maintenance work. Their assistance- sometimes in freezing conditions appreciated. was once again greatly War Mgmorlal The War Memorial, cofflmemorating Leioesler Tramways and Electricity Department worker5 who gave their livès in the two World Wars, continues lo rfrside in the hallway ol the de¢onsecr8ted chancel at the rear of All Saints Church, Hi9hcross Street. Leicester where it 15 cared lor by members gf the Leicester City. CoLJnty & Rulland Al Risk War Memorials Projgct pending its full resloralion. The society hopes that il will be able to move ils whole cDlle¢tion to an improved site in 2026 which is, incidentally, faitly close to the Irarn depot. M•mb•rs We were plèased to be able to recruit 13 new members which took the total by the year end lo 229 although there ware around 30 mernbers who had not yel renewed by that lime. Th6 monthly social meeting5 al Biaunstonè Civic C8nlrg conts'nued throughout the year whilst monthly 'Zoom' meetings were also held from January to May and from October to Dec8mbgr Iwhen therè were fewer events being organisod, allowing time for such meetings). Th& popular high quality quarterly journal lor mamber51"VVheèls'l was once agaln produced In March, June, Septembor and December by editor, Stuart Render. It is, how&ver, sad lo report that during the year we were advised of the deaths of members Dale Tiingham anL4 Alan Breward. Organisations of which tho Trust Is a Momb•r The Trust remained a paid-up member of th8 following organisation8 :. Association of Independent Museums IAIMI British Newspaper Archive Dennis Bus Owner5. Association Ford Sidevalve Owners. Club Leicestershire & Rutland Heritage Forum ILRHFI Museum 08velopmént Midlands IMDMI National Association of Road Transport Museums INARTMI National Transport Trust Iformarly tha Transport TNstl Stonèygale Conservation Ar88 Sociely ISCASI. Th& Trust is also reprèsènted on the Land Transport Archive Nètwork ILTANI which ulili$88 the 'Zoom' virtual meeting plafform. LTAN is part of The Nation81 Archives. Thg Trusl also works cJDsèly with Tho Bus Archive. Buslnoss and Communlty Rolatlon$hlp$ The Trust continued lo work with major local bus operator Flrst Lelcesler and the Great Central Railway. Meetlngs were also hfjld with Snibslon CcAliery Park and North West Lei¢eslershlre Dlslrfcl Coun¢ll in connection with the Snibston events. 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 lo sponsor a workshop space al our main vehide storage cenlre. Financial Review Th8 trust8es consider the financial result for the period was sa115faclory as a resutt of continued c8r8ful management of expendilure during the year. Membership le&5 and donations remained our main source ol Steady income, with somg of the18tter being in respgct of specific projec15 which are shown within restricted income funds in the accounts. The rernainder were ol a more general nature and most were available for Gift ￿d. Happily, sales incomFJ also flowed in from the Many events held throughout the year. Out of pockel expensès incurred by (Sireclors and members were once again r&imbursgd by the Trust on roduclion of the relevant rec9ipts. Some of these amounts were donal•d back lalong wilh all amounts in connection with mileag& claims). The opportunity to transact business by e8rd was appre¢ialed more and more by thè public, particularly al our events and a further card machine was purchased during the year. Paypal paym@nts continued to be accepted lor onlintr sales w((h thè balanc8 being transferred to the ¢urrenl account al Ihe end of each month. The closure ol Natwest's Oadby branch in Septgmber necessitated a swllch lo paying in aither at the main branch at Granby Street or the branch at East Park Road. Happily the latter branch has three cashier positions ¥nd seems to cope well with Ih? level of customers visiting al any one lime. The balan￿S of the Gurrenl, Reserve and 95 Days No11￿ Accounts continued to be fflonilored carefully. making sure that wè are 8ble lo meet th8 large quarlerly vehicle renlal payments and any signif1¢8nl bills incurred with the professional restoration of OJF 191. No endowment funds are currently held by the Trust. An overall surplus of £18.064 arose lafter &nd of year provisionsl aftar spending £11,568 on specific projgGts. Transfars from th8 General Fund were mad& during Dec8mber lo ensure that none of the sp8cifjc funds were in daficil at thè year end and it 18 anticipated that this practice w￿1 ¢onlinue for the foreseeable fulurg. Totsl restricted funds for specifi¢ projects at tha ènd of Ihg year werg £129,525 leaving £28,696 in unrestrictèd funds, but prudenco in the us& ol funds remains important. There hava been no significant events which have affo¢ted the financial results during the year. The principal risk faced by ihe charity would bè the loss of storage accommodatlon for ils vehiclès and archive Items. and the Iruslees arè lully aware of the need lo manage this risk and remain vigiiant in seeking a long-lerm storage solution. Structure, Govornance and Man89•ment Tru8t#8¥' R•sponsibilitigs, Managgm•nt and Organi3ation Leicosler Transport Heritage Trust Limite(J is a company limited by guaranlae govemed by ils Memorandum ol Association dated 29 September 2007 and its Articles of Association ¢Jated 27 May 2017. It is register¢d as a charity wilh th8 Charity Commission. Anyone over Ihe age of 18 can become a member of the Company, each of whorn agreès to contribute £1 in the event ol the ¢harity belng wound up. Thè trustees aré responsible for the management of the charity and lor preparing a trustees. annual ¥èport and financial statements in accordanGe with applicable law and United Kingdom Accounting Standards. Tha tru$lo&s h&ld gight lacg-10-face Board Meetings during 2025 and exèrcise prLJdenl financial management al all times with updalttd figurgs being circulated betwèen the dirtrctors on a monthly basis by Finance Officer, Vivienn6 Follows. The Trust's Annual General Meeting was hald on 14 June with a total of 33 in attendance. Those present moved a molion lo authorise Bailey & Griffilhs to carry out the Indeptrndenl Examiner's Report in respect of the Annual Report and Financial Statements for the year endlng 31 December 2025. In order lo comply wllh Charity Commlsslon requirements Ihe Trust has wrfllen pollcies in place on Risk Management, Investment, Safeguarding Vulnerable Persons l Beneficiaries, Conflicts of Interest, Volunleèr Management, Code of Conduct, Equal Opportunities, Data Protection, Driver Responsibility, Complaints Handling, Recrtjilmenl of Trustees, Health and Safely and the Acquisition and Disposal of Vehicles. Tyres, Archive items. Social Media, Environmental and Volunteer Working during COVID-19 Reslriclions, Collections, Orivers. All policies are due lo review during 2026 when consider8lion for further poIIcigs will also be given. Risk Assgssments are carried out for events which the Trustees arrange and when considered n8cèssary for outreach aclivilies. Additional insurance cover ts t8ken out when required. Action continues lo be taken lo ensure that the Trust cornplies with the Gener81 Data Prolection Regulation IGDPRI which came into force on 25 May 2018. Trusl••$' Indu¢tlon and Tralnlng All new trustees I wmpany dire¢lors are inlro(Juced to their new role and glven coples of the Trust Deed l Memorandum & Articles of Association and guide to th8 polici&s and proceduras adopted by the charity. Publications frorn the Charity Commission are also provided including the guidance on charities and public bèngfit, thus ensuring that new trustees ar8 awarg of Ihg scope ol their responsibilities under the Charities Act. The process adopted by the Charity is that the n& trustees work with the existing Irustees assisting on parti¢ular activities and projects run by Ihg charity. Once the new trustees have gainèd enough experiencè, thèy are given the task of leading a particular actwity or proje¢l and. accordingly, ol reporting progress at the trustees, regular meetings. Rgs•N•s Pollcy The trusteas are responsible for setling 8 Reserves Policy which takes into account the administrative overheads of the charity. SufFicient reserves are held to ensure that future calls upan the charity can be mol and also as noted under Risk Management. Al December 2025 the charity held lotal unreslricled funds of £28,696 and restricted funds of £129,525. The restricted funds include £87,956 in respect of the valuation of the vehicl8 coll8clion. Futur? Plans The financial staloFnents show Ihat the Trusl has continued lo progress satisfactorily during Ihe year and we èxptscl that to continue during 2026, although reservès ar8 lik8ly lo reduce again with the continuing professional restoration of OJF 1918nd the repairs and restoration work needed to soveral of the bu8es. Conversely. we are still expe¢ling a logacy in excess of £10,000 which will help lo offset th& position. With further work on thè Tram D8POt lo be lakgn forward as soon as possibl&, these remain ¢hallanging bLrt exciting limes and the trustee5 expect to demonstrate further our charitable obleclives durin9 2026. Rlsk Managemont Th9 trustees have idantified the principal risk lo the charily is 8 lack of guaranteed funding SUPPDrt, which could result in inability to continue to meet its objectives. To mitigate this risk, the Truslees plan to build over a lima a minimum reserve equal to one year's operational expenditure. Careful annual budgeting, tight controls on 8xpendiluie and effective fLJndiaising from commercial and individuals, sponsors and Gharilable Trust are importanl laclors in achievin9 this goal. and have been pursu8d vigorously in the period under revi@w. The 8oard has currently drawn up a written risks register, with a note of plannèd mitigations for each idènfy'flad risk. This will be discussed, updated and agrèèd each year. Small Company Provl$ion$ This report has been prepared In accordance with the Special Pro¥lsions for Small Compani8s under Part 15 ol the Companles Act 2006. The Trustees. repK)rt was approved by the board on nd slgnèd on its behaw by Nigel Chairman Leicester Tran5POrt Heritage Trust Limited Lolc••t•rTran8ptsrt H8vlta9• Tntst Llmltsd la E•mp•ny Ilmltod by guarant•el R•￿rt ol th• Ind•pend•nl Examl#•rt• th• Trust••s ol th• ¢h4111abh ¢¢mp•ny on ih• •¢¢tyJnts forth• y•af 4nd•d 31 D•c•rnber 2025 I report 10 Ihe Tiv$iee$ on my examination ol the financial ¥i*ements ol Ihe chBrilable ¢ompany￿ pa9e¥ 11 10 18 for the year endott 31 De¢efflb&r 2025 which have been prepared in acrord6ncÈ %￿lh the Chaiities Arl 2011 Ilhe knll and Ihe Finalltyal Raporbng Slanoard 102.191f8ctlvp 1s1 January 20161 as Tnodified by FRS 102 SORP Isialemenl of Recommended Prsclice foi AC￿n￿n9 and Roporting Dy Chalniesl 2015. las amended by thp Bulletin Issued in Ociober ?Ot8 and applicabLg 10 al accountiNJ pgdods bBgiDDing on orafter 151 Jwnu8ry 2D191. ITh• SORPI. pub115hed by Ihe Charity Commission in En9latbd & Wal95 ICCEWI. ￿￿9rItt9 hislorwl ¢061 tonvanlknn and Iho sccounliD9 poliriBs 591 tyjl on pAg8 1&14. Rvsp•¢tJv• r•$wn•lblllUu d th* Tru4tw and the Indopendgnt EMimln•r •nd lh• b&•l¥ rflh• r*port A8 chartiarie comp8n￿O Tw$ige$. vkno are 3150 the Dirocttyts ol Company forihg piJfp0889 of Q￿p￿TrY Idw, you are re¥ponsiile for the prepar8litn ol Ihe finan¢i$l $18temen15 in 8ccordAnce ¥￿th the Compani¢8 Ad 2006, tho Ch•ntses Act 2011 8nd all Other4p￿￿abk law4nd wilh Uni19d Kinydtym G8norally Accwted Accounbng Praclire, applicablg 10 smaller eniili¥$. and for belry y0￿¥fi￿j 1fv81 the fn8ndo1 ¥tstem8nt8 giVO 8 true 8nd f81rvl8W. The Trustee5 consider Ihal the audil requirernent of Section 14411101 Charilif¥ 2011 Ilh9 Artl d¢*$ 8pply. and Ihal Iher8 is no rewiremgnt In Ihe m?morandum arbde5 of the charty forlh9 ￿duCting of an audit. and that tho 8¢¢ount$ do not reguire an audii In accordance vAlh Part 16 Df th& Compani&s Act 2￿6 and that no membèr or mèmber5 have requgst8d audiipursuanl ID secti￿ 476 ol th8 CLvnPOn￿s Acl 2006. ￿ a consequence, the Tiuslees have elected that Ihe financwl 8laiemeTrl¥ bo $ubjeGI to indtpehdoni wA8min•iiLY. Having sBt15fied myself that the finBnclal slaiement8 a￿ nol requlred 10 be 8uthled undeT any oroth6rA488. and are e1￿ible lor Ind&p8ndeni examingbon. it Is my re5pon¥ibility lo-.- al exarnine thg finoncial Biatgménts of thè chadty und6r S*Glion 145 of the Act". bl foll¢r* thg oopl4¢8￿e y(Kedures in the Directions oiven by the Charily CDmmissw ￿￿4$r 141SXbl ol the AGI. Basls ol Independent Examln¢V$ St•temfjnt and scopF of work urjdertakon I report in re5pecl vf my exam￿alK)n ol Iho ¢h¥ritWF financial slaigfflerts carrfèd oui undw $145 of the Acl. In carrylng out my examin*ion. I have folkn*ed all Ihe Dity¢iion5 giv￿ by Ihe cnarity Commi$$ioA ufider 5eclion',4515llbl of ltye Act setbng Oul Ihd duli85 ol an jndep&néenl 8xaminÈr in r4ation loine Co￿uc1￿n9 ol an Indèp8nd9nlgxamin£lion. An indépènd8nt fjxgminaiion Includes è reviuwol the a¢counling reeords kept by the charitsblè crjmpany and ol the accouniing sy8ltm$ employed by the charflable c¢mp8ny and a companson ol i*e f4nancial statements pre8EntBd 4Mth thoEo ￿cords. It Also Inclvdg5 Cons￿eratIon of $ny UW8ual Items or discbsurè5 in the Iinafioal slai&m8nls. and sp8king explanauons Irtsm yo￿. a5 Trustges. eoncofning 3uch tnali8￿. Thè puwo$e ol the exanNnaiion18 lo eslab115h as fai as pos$lbl& thai Ihgie have besn no br03ch95 01 chartty l$gi$1811on aNJ that. on è teyi ba*$ ol ey￿enCe ra￿vAnt 10 the a￿oUn15 and ¢isdosur* m¥de, th& flnanclal sia18m&nis compty th8 SORP. Thè prttédur95 undertaken do nat providg dl thè 4vld8n¢9 thal w)uld be requlrdd In 8n a￿11. and Inform8tion 5uppleO by TnJJl&&s in Ihtr cwr88 of the examin81￿￿ ￿ not Subjacttru 10 a￿011 legg5 or enquifi6$ 8nd do88 not ¢Ovtrr ltte mailers that an avdlior Would eonsidgr In arrivSrs ai •Th olnion. Th• rAannin9 and conduclol an Budit[oe8 bgyrAid the b'mi￿ assurance that an in¢ependgTh1 eXamIn&t￿Tr ran provklè. ¢Dnsequenlly. I do nol gxwes5 8n audll ¢P￿40n Dn Ih•vièw givèn bylhg f￿and81 $1816Ynents. and In particular, l expr955 no opinion as to %th8lh9r tho fingnclal $iaiemontS glvè a ￿nd IBirvièwof Ihg ?ffairs Df thè Charity, and my réport 1$ limrtod lo th• maitgrs 501 out in Slalemeni below. I planned perfoTmed my exalThnal￿ $0 8$ ￿ ¥ats8fy myseff that the obigcuves of the Independent ex4M¥1ath￿ ar• achlèvgd and beforè f￿￿1181[￿ the rèpDrt l Obtain￿ 8¥sUra￿ trom Tru$ig95 of all mBterf4 matters. Independeni Examlner'5 Siatoment. Report and Oplnlon AtleDIioq IS orawn ￿ the accournliYQ pollcy staling thai, fiomrylhsianding Ihfy expllcit req￿reM￿nI In thè 9xlani 6lalulory r￿Ul*ll0Th$. the Charities IAc¢outsts ond Rew$l Regulabons 2[￿. lo prepare the financial slalemen15 in at¢¢rdaFKe hllh th& SORP 2005. in view ol the fact that the SORP 20￿ has been wlhdrw, in oidor io accDrd wlh current b851 pracbce. the Trus￿95 hawe £19rtnined lo proparg the financill ¥t3lotnen15 In *¢rgrdanc8 wlh the FRS 102 SORP Islattrmonl DI ReCom￿en￿o￿ Pr¥cli¢e lor Accounling and R8P¢rting ty Chathiesl 2D15, la5 amended ty Ihe BulletSn ISSueJ In October 2D18 applicable to all accouniing pÈritsds b8grnnln9 on or8fi9r 151 January 20191. (The SORPI. I wn¢ur wlh ￿1$ 2W*i￿Ch. and any rèlarÈnces in My roport 10 Ihe regulaiions shryJlO b? lead SUbiKI to this commonl. Subject 10 Ihg Iifflilalion5 upon s¢opF Df rnyv￿rk as d81al￿d above. I have completed my e¥aminètion and can confirm Ih¥t- The aCC￿nIS of lttis Charitab￿ company not wuiled to b@ audilgd und•r P*rt 16 of the Companio5 Acl 2008.. Th1$ 1$ 8 *port ID respo￿ of an examinalh)n camed out under 145 of th￿ Act and In accorttafiCe￿th txrectlons gfven tylhe eharfly Commlssitsn undèr Sèttiion 1451SMbl ol the Act *hich rnay bp 8pDlic&ble. and th* no rnatgrial fflatte￿ have come io my8tT8niion In c￿neCtI￿ wth the fjx8mln8t￿n giviw mtr causè 10 thai In any rna￿￿31 respect... 1. accounlifig records ￿re nDt k¢pi in respo¢t of the ¢h•fjly as r¢4uirsd by S8¢kn 366 ￿ th8 CIKDp8nie¥ AGI 2006 Se¢iion 130 of The CharilieB Aci 2011., 2. the finan￿al slalem&nls noi 8c(Jyd v￿l￿ thosè r8¢ord8, or 3. th& finan￿al slalemgnls do noi complyw1￿ Ihfj Sp￿1¢0b￿ wuiromonis ¢on¢orniry the form ano conlenl of accounts ¥91 oul In s￿110￿ 396 of t￿.6 Compan￿$ Att 2006 otherlh8n ?ay reguirem8nl Ihatthe 8CCOUnts gIVe 8 and foiff VW. not a mtytter considered 8$ Part ol an inoepefidenl examinatson.. 4. have not b$8n prtrp8r8d I￿ accordance ¥%ilh Lhe meihrxts Ar￿ pr￿e1rAe9 sel Dul in ihe FRS 102 SORP Isiai8mBDI of 51ewnmend*o Pra¢ti¢e lorAcGouniing and Reporting by Ch8filiesl 2015.18$ gmgnded by Ihe Bu1￿11￿ 15sued In OclobeT 2016 ano ¥pplkaW8 lo &ll ¥Gcwnling peTir￿S beglnniny on or aftèr 1s1 J¥nuary 20191. (The SORPI. I havè nD concems and hav$ ¢om• across no othgrrnatters In connection wlh th* examlnAllon 10 4thl¢h Jttonlion Should bo draw) ill Iri8 report in orderlo enaoie 8 prowr understandiw of Ihe finonckil 514lemenis lo ba reached. J A Bailey FFA FIPA FFTA aal￿ & Gdffilhs LlrnllBd otfice 17 The Atkin5 8uildino Low8rBDnd siro01 L$l￿19rShiro LE10 1 10 Lèlcéstgr Transport Horltage Tru$t Llmltgd la company Ilmlt•d by guarantee) statement of Flnanclal A¢tlvltles Ilncluding the Income and Expendlture A¢¢ount for the year ended 31 D•e8mb•r 2025, •$ requir•d by the Compani•s Aet 20061 Unrestricted Funds 2025 Restrict Funds 2025 Note Tol81 Funds 20 T t IFunds 2Q24 Incom• and Endowments from.. Donatio)ns and legacies Charltablé actlvltl8$-. Aclivltles for generatlng funds 39,224 10,795 50,019 33,750 42.341 3,070 45,411 41,558 Inv6slm&nl incomg 1,340 1,340 2,078 Total Income 82,905 13,865 96,770 77,38 Expendlturo on.. Raising funds 8.924 8.924 8.738 Charitable activities 35.947 33,835 69,782 79.149 Total expgndilure 44,871 33,835 78,706 87,887 Net incomelexpenditure for the year 12 38.034 -19,970 18.064 -10.501 Transfars betW6èn funds -38,71)0 38.700 Not movemont In funds -666 18,730 18.064 -10.501 Reconclllatlon of funds... Total funds brought foNard 29,362 110,795 140,157 150.658 Total lunds carrl•d forward 28.696 129,525 158,221 140,157 All activities dgrNe from continuing opeiations. The notes fom) an integral part of these accounts. L•l¢•$tOf Transport Hèrltag• Trust Limit•d (a Company Ilmltèd by guarante•l Balance Sh&&t as at 3106comb¢r 2025 Unrestric funds Restricted funds oles Flxed assèts Tangible ass8ts 87.956 87,956 78,956 Current assgts Debtots Cash al bank and in hand 2,603 34,353 36,956 2,603 76,039 78,642 2,431 65,277 67,708 41,686 41,686 10 Cr•dltor$.' amounts falling due within on& year -8,260 -117 ,377 -6,507 Net Current as88ts 28,696 41,569 70,265 61.201 Total as$ets le8s current 28,696 129,525 1 $8,221 140,157 Th• total ngt assètts of the charlty 28,696 129,525 158,221 140,157 Charity fund$ Unrestricted funds Restricted funds 28,696 28,696 129,525 29,362 110,795 129,525 Totsi fund$ 28.696 129,525 158,221 140,157 The directors are satisfied that thè company is entitled to èxemption from the ¥equir8menl to obtsin an audit under sèction 477 of the Compan188 Act 2008. Thè membars have not requir8d the company lo obtain 8n audit in accord8nce with $e¢lion 476 of the Act. The directors acknowledge their responsibilities for complying wlh the requirements of the CoFnpanig$ Act 2006 with respect lo a¢counling rewrds and tho preparation of accounts. Th8 charity is subject to Independgnl Examination under charity l@9isl8tion, and the raporl of the Independent Examiner is on pages ￿10. The financi31 slalemenls hèv& been prepared in accordance wlth the provisions in Part 15 of the Companies Act 2006. applicable lo companies subj8CI lo the small companies r￿lm￿. NEg Chal leton an 12 L•lcester Transport H•rftag• Trust Llmltod la company Ilmlted by guarantee) Notes to the Accounts for the ￿Or ended 31 December 2025 l Accounting policies Basis of preparatlon and accountlng convention The financial statements of the charitable company, which is 8 public benefit entity under FRS 102. have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Slalemenl ol Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applic8ble in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20151',The Financlal Reporting Standard 102 The Financials Reporting Standard applicable in the UK and Republic of Ireland and the Companiès Act 2006. The linancSal statements hava béen prèparèd undèr the hlstorl¢al ctssl convention. Flnanclal r8portlng 102 - r•du¢od disclosure èxemptions The charity has taken advantage of the following disclosure exemption in preparing these flnanclal slalem&nls, as perniitted by FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland.. - the requirement of Sedon 7 Statement of Cash Fh)ws Incomg rgeognilion All incoming ￿SOurCeS are recognised in the Statement of Financial Activit￿5 once the charity has entitlem8nl lo the funds, it is probable Ihat the income wi￿1 be rè¢eived an¢J the amount ean be measured reliably. Voluntary income 18 received by way of donations and gifts and is included in full in the Sialement ol Financial Aclivities when receivable. The value of services provided by volunteers has not been includgd. No amount included in the financi81 statements fDr volunteer lime in line with the SORP IFRS 1021. Furthèr detai15 are 9iven in the Trustees Annual Report . Fixed assets gifts in kind are recognised whgn receivable and are included at fair value. Thoy are not deferrad over Ihe life of th8 asset. For legacies, entillemenl is tho earfier of the ¢harity being notified of an impending distribution OT the legacy being received. Al this point income is recognised. On occasion legacies will be notified lo the charity however it is nol possible lo measure the amount expected lo be distributed. On thèse occasions, the legacy is treated as a conlingenl asset and disclosed. Tho charity receives government grants in raspgct of repair of thts bu$9s. Income from government grant and other grants are recognisèd al fair valuès when the charity has enliilement. The grant is recognised when it is probable that the ineorne will be received and the amount can be measured reliably. Expendlture reCOgn￿lOn Liabilities are recognised as expendituré as soon as thére is a legal or constructive obli9ation committing the charity to that 8XP8nditurg, it is probabl¢ that a transf$r of economic benefits will be iequir8d in selllemenl and the amount ol the obligation can b measured reliably. Expenditure is accounted lor on an accruals basis and has been classified under headings ihal aggregate all cost related to the Category. Where cosis cannot be dire¢tty attributad to particulai he8dings they have been alk)cat8d to activrtigs on a basls consistent with the use of resourc8S. Lelcestar Transport H&rltsg¥ Trust Llmh•d la company Ilmlted by guarantee) Notes to the Accounts for the y¢ar ¢ndgd 31 December 2025 Accountin licies- conv Tanglble Flxed Assèts and D•pr•elatlon Tangible flxed 8syels are capitalised and included al Cost or valuation together with any incidental &xponse5 of acquisition. 140 depraciation is provided on motor v&hicles. as in the opinion of the Trusteas there is no permanent diminution in valu8 of those assets as a resull of exlenslve maintenance and resloratlon of the vehicles owned by the Trust. Depr8ciation is provided on olhef fixed assets al rates calculalad to write off the cost less resldual value of each assot ovor ils expgcled useful lif&, as follow5.. Fixtures and fittings 25.kn on cost Taxation The charity is exempl from corporation t8x on ils charitable acliviJes. Debtors and credltors recelvablelpayable wlthln ong yoar Oebtors and crellitors are stated at transaction price. Cash and cash èquivalents Cash and cash equiv8lent5 comprise cash on hand and cash on deposit. Fund¥ accounting Restrlcted funds are funds that can only be used for partlcular reslrlcted purpose within the objects ol the eharily. Restrtcllons arise when spe¢Tfied by donor or when funds are raised lor a particular re51ricled purpose. Unrsstrirtgd funds are incoming resovrces recaivable for expenditure on the general obje¢liv8s ol the charity. Transfers b8lw8en funds are m806 where necessary. Dasignaled funds comprise Un￿StriCted funds that havè been set aside by the Iruslees for particular purpose4S. The aim and use of each ¢Jesignated fund is sel out in lh8 notes lo the financial statement$. Further explanation of the n81ure and purpose of each fund is included in the notes to the financial statements. Lease$ Rentals payable and receivable under operating leases are charged tts the SOFA on a str8ight line basis over thg period of the lease. Going cone•rn The financial slalemenls have been prepared on a going Concern basis as the Iruslees believtr that no material L*ncertainties exist. 14 L¢l¢•stsr Transport H•rltago Trust Llmlted la company Ilmltod by guarantee) Nots$ ¢0 th¢ A¢¢tsunts for th8 year ended 310ecember 2025 2 Donations and lega¢ies Unre8trict8d R88trict8d Funds Funds Total 2025 Unw$tri¢ted R•$trl¢tod Funds Fund5 Totsi 2014 Oonatk)ns and legacie5 Gran15. awards and sponsorship Gifl Aid 22,836 8.630 7,758 8,795 2.000 31,831 10.830 7.758 12,021 4,445 6.281 11,003 22,024 4.445 8,287 39,224 10,795 SD.019 22,747 11,003 33.750 3 Charhble a¢tlvlllo• Unre8trlcted Rostrlcled Fund$ Fund5 Totsl 2025 Unr88trtct8d Restricted Funds Fun4$ Total 2024 Adlvltl•$ Ir•r gènaratlng fund Mernbership 5ub5criplions Rent &nlran¢o feos Sale5 Members lollary 7.210 21.360 3.765 10.006 7,210 21,380 3,765 10,006 3.070 7.440 20,400 2,043 8.566 7,440 20,400 2,043 8,5e6 3.108 3,070 3.109 42,341 3,070 45,411 38.449 3,109 41,558 4 Invetstment Income Unre81rl¢ted Re¥trlcted Funds Fund8 Totsl 2025 Unre5trlcied Restrl¢t¥d Fund8 Fund¥ Tot81 2024 Interest receivable 1.340 1.340 2,078 2,078 S Raising funds Unrestri¢tgd Restrictgd Funds Fundts Total 2025 Unrestricted R¢8trldod Funds Funds Totsl 2024 Mi188gp expens85 Publications Advertising. $ubs & donations Good8 purchasèd for rosale Bank ¢hargeslPaypal 3,253 2,517 1,466 1,545 143 3.253 2.517 1.468 1,545 143 3,571 2.876 998 1,416 77 3,571 2,676 998 1,416 77 8,924 8,924 8,738 8.738 6 Charhablo a¢tlvltlès Unre$irfet•d R9str1￿Od Fund Fund8 Total 2025 Unrostrlct¢d Rsstrfct•d Fund$ Funds Total 2024 A¢tivitles for g•neratln9 funds R8nl Fu81 Resloralionlmalerials Road Insurance Breakdown insurance & MOT Towinglr&covery Members megling cosi$ Archiva ilems Ulrfrties- &le¢tricity Kl8mbers lollèry priz08 Website Support C06ts Slaiionery. posiaoe & consumables Sundries Ind8Pond8nl 8xaminers f888 Professional f88$ 25,440 1.414 1,844 18,810 44,250 1,414 13.320 24.060 1,093 2.682 17.160 41,220 1.093 18.296 11,476 15.614 1.508 1,848 292 3,356 292 1,398 1,475 1.264 2.873 1,264 1,503 1,503 405 1.676 1,676 7,983 391 405 7,983 391 645 70S 705 13 1.977 697 1.380 299 2.276 697 1,380 1,311 65 1,380 124 221 1,532 659 1,380 124 35,947 33,835 69,782 34.396 44.753 79,149 Lélc•st8r Tran8POrt Hèrl¢age Trust Llmltod la company Ilmlted by guarant•g1 Not88 to thè ￿COUntI for th¢ yoar ended 31 De¢ember 202S 7 Flxod as8Ots At ¢081 or Accumulated valuation Additions Di¥po$418 dèpreciatlon 202S Total 2024 Total Motor v•hiel88 L8yland Titan PD2 FJF 193 LeOand Tig8r Cub OJF 191 For¢ Van PRY 808 Le￿a￿d Tit8n PD3 264 ERY BMMO D9 8314 HA AEC Renown DBC 190C Le￿and Titan PD3 GRY 60D LeOand Atlantean PBC 113G 8MMO S22 PHA 505G Metro Scanla ARY 225K Metropolitan UFP 175S Dennis Dominsior UFP 233S Leyland Leopard 8AH 809X Donnis Dontinator TBC 50X Leyland Olympian A502 EJF Scania L113 CRL S350 MFP Kirby & Wast Milk Float WRY 342 Fixlures & fit11￿$ 20,000 1,539 1.900 10,000 1,000 20.000 1.539 1,900 10.000 1.OlYJ 9,OLX) 3.0(M) 517 10.000 5,000 2,000 5,(N)O 6.CM)O 5,500 2.000 5,000 500 20.000 1,539 1,900 10,000 1.000 9,000 3,000 517 10,000 5.000 2,000 s,000 6.000 5,500 2,000 5.000 500 145 3,000 517 10,000 5,000 2.000 S,OOD 6,000 5,500 2,000 5.000 500 145 79,101 9,LK)O 145 87.956 78,956 The market value of the motor vehlcles have not changed $4nce18St year armj therefore no adjustments were required to be made In these accounls accordingly. AEC Renown OBC 190C was purchased during Ihe year lor £9,000, this amouni 1$ considered a lair valuation as at the year end. e Debtors Unrostriet•d Ra8triet*d Funds Funds Total 2025 Total 2024 Trada d9btors Grants receivable Prepayments Tax refund rgcelvab 333 333 251 220 76 1,884 79 2,191 79 2.191 2.603 2,603 2,431 9 Credltors: amounts falllng due wlthin on? year unrestricted R•strlcled Funds Fund5 Total 2025 Total 2024 Trade cr8dilors Membership subscriptions rèceived in a the Accounts for tha y•ar endod 310•eèmb•r 2025 10 Funds of tho Charlty. Allocatlon summary Unrestrlcted Restrlcted Funds Funds Total 2025 Total 2024 General accounl Rent account Archive Tram Depot Legacy FJF 193 OJF 191 PRY 808 264 ERY 6314 HA DBC 190C GRY 60D P3C 113G PHA 505G ARY 225K UFP 175S UFP 233S BAH 809X TBC 50X A502 EJF S350 MFP 35.956 1,000 35,956 1.000 2.001 2.300 4.337 2.016 5,869 663 1.989 3,137 1,991 2,005 1.042 2,407 1,988 1.078 2.020 2,018 2.027 2,003 795 35.773 2,001 2,300 4.337 2,016 5,869 663 1,989 3.137 1.991 2,005 1,042 2,407 1,988 1,078 2,020 2,018 2,027 2.003 795 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 36,956 41,686 78,642 67.708 The abov• b8lances spltt as follows: Unrestrlcted Rèstrlcted Funds Funds Total 2025 Total 2024 Debtors Cash al bank 2,603 34,353 2.603 76,039 2,431 65,277 41,686 36,956 41,686 78,642 67,708 11 Movement in funds N•t Transf•r Asat m0￿m¢nt betwe•n 0110112025 In fvnds fund$ Asal 3111212025 Unrè$tri¢ted funds General fund 29,362 38,034 -38,700 28,696 R8Stri¢ted fund Restricted funds 110.795 -19,970 38,700 129.525 140,157 18.064 158,221 17 Lgl¢•st•r Tvansport H•ritage Trust Llmltod {• ¢omp•ny Ilmlted by guarantee) Ntst￿ to the Ac¢tsunts for the year ended 310ec?mber 2025 12 Net movement in funds, included in the above are as follows: Incoming R•sDurc•s Movom•nt re$ource$ •xpènded In funds Unrestricted funds General fund 82,905 44.871 38,034 R85tricled fundB R8stri¢led funds 13,865 -33,835 -19,970 96,770 -78,706 18,064 R•strlctgd funds The restrscted funds are made up of tangible assets as in note 7 of £87,956 less o creditor of £117 in note 9 plus funds balance in note 10 of £41,686. Transfers made bèwn the unrestricted and restricted funds during the year was £38,700 lo cover the overspèno in the reslricled funds. 13 stock Stock of publications and goods for rosa19 ar9 prudently written off when purchased, the value ol stock al cost at 31 December 2025 and 31 December 2024 was noi material. 14 Tru$tees' remungration None of the truste85 received any remuneratlon during the year12024- £nill. 15 Trustvs and members expen$oS Mileage expenses of £1,510 were paid to 3 trustees and £1,743 lo 5 members12024- £2.331 paid lo 2 trustees and £1,240 10 4 membersl- these were donal@d back lo the tru81. 18 Relèted party dls¢108ures Th9re were no related paty Iransa¢ts'ons for the year ended 31 Oec8mber 2025. 17 Amounts payablg to Independent •xaminer The amount paid to the independ¢nt examiner was £1,38012024 - £1,380). 18 Company Ilmlt•d by guarantoe The company is limited by guarantee and therefore does not have any sharè capital. 19 Other ftnancial ¢omrnitmgnl8 The company has annual rentsl commltments of £2,000 on a rdllng basls. 18