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2022-02-28-accounts

Company Registration Number: 05035702 Registered Charity Number: 1125980

THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee and not having a share capital)

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS UNAUDITED

FOR THE YEAR ENDED 28 FEBRUARY 2022

THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

COMPANY INFORMATION – TRUSTEES, DIRECTORS and PROFESSIONAL ADVISORS Year ended 28 February 2022

Directors / Trustees Dr C J Billington Dr H M Bolt P M Delaney (appointed 23 January 2022) G G Green D T Sheppard P Snowden (appointed 23 January 2022) M J Williams Company Secretary Dr H M Bolt Company Number 05035702 Charity Number 1125980 Principal/ Registered Ledger Farm Office Forest Green Road, Fifield Maidenhead SL6 2NR Bankers: Lloyds Bank plc Lloyds Commercial National Clubs & Charities Centre PO Box 1000 BX1 1LT Insurance Brokers: TH March Insurance Brokers (Museum and event insurance) Hare Park House Yelverton PL20 7LS Tollgate Private Clients (Vehicle insurance) Tollgate House 96 Market Place Romford RM1 3ER Independent Examiner: T W Bennett CALIBF 16 Manor Close Bradford Abbas Sherborne Dorset DT9 6RN

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THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

TRUSTEES’ ANNUAL REPORT

Year ended 28 February 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT

The trustees are pleased to present their annual directors’ report together with the financial statements of the Trust for the year ending 28 February 2022 which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Report Standard applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2015.

Company Number 05035702 Charity Number 1125980

Status

The Thames Valley & Great Western Omnibus Trust is a company limited by guarantee, having no share capital and registered in England & Wales on 5 February 2004. Each of the members is liable to contribute an amount not exceeding £10 towards the assets of the company in the event of liquidation. It is a registered charity. The charity was incorporated on 22 September 2008 and is bound by its Memorandum and Articles of Association. In their letter of 8 December 2009, HM Revenue & Customs accepted The Thames Valley & Great Western Omnibus Trust as a charity for tax purposes under reference XT21974 from 30 August 2008.

In accordance with the Articles of Association, the first Trustees & Directors were those persons notified to Companies House as the first directors of the Charity. All three Directors were willing to continue beyond the first Annual General Meeting. A fourth Director joined the Board on 13 February 2013 and a fifth on 21 March 2019. As subscribers to the memorandum, both also became members. Two of the first Trustees & Directors remain in post. The third’s appointment was terminated as required by the Articles of Association and he ceased being a member, Trustee or Director on 27 June 2020.

The existing Directors can appoint a person who is willing to act to be a Director either to fill a vacancy or as an additional Director. One new Trustee & Director was appointed on 4 December 2020 with two further appointments on 23 January 2022 within the current reporting year. At the end of the period, the Trust therefore had seven Trustees & Directors, two of whom are first subscribers and two others are also members. With the increasing scale of charitable activity, the Board intends to appoint additional Trustees & Directors as suitable persons are identified.

Principal Activity

The company was dormant until December 2009 but has been active since, working in furtherance of its objects.

Charity’s Aims and Objectives

The principal object of The Thames Valley & Great Western Omnibus Trust (TV&GWOT/the Trust) is:

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THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

In furtherance of this object the Trust powers include:

REVIEW OF THE YEAR & PUBLIC BENEFIT REPORT

At the start of the year the Trust owned the following vehicles :

At the start of the year the Trust had on long-term loan from Trust Chairman, Dr Colin Billington, eleven significant historic vehicles relevant to the Thames Valley and Great Western region. The standard terms of loan agreements mean the owner remains responsible for funding storage, insurance, restoration and general operational costs. The loan vehicles comprise:

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THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

There were no additions or removals from the collection during the period. The loan term of four vehicles was extended for a further 10 years to November 2031 as noted above. All four vehicles are under active restoration as part of the Trust’s restoration activity with the different facets on display to visitors.

As a collection, the vehicles span the Trust’s region of operation and a 57-year period of manufacture from 1912 to 1979. As a result, they also represent a range of technologies giving an invaluable basis for heritage skills retention and training during their restoration and operation. During the year volunteer opportunities for restoration involved vehicles from the 1920s through to 1960s (VW203, RU8805, FTA634, JUO992, LTA748, BOD25C). In addition to public access to the workshops as work progresses, the acquisition of restored and operational vehicles by the Trust (DBL154, NDP38R, MO9324 and FMO938), the completion of restoration of vehicles on long term loan (YF714, MOD973, EDV555D) and the availability of operational vehicles also on long term loan (OTA290G, FDV790V) has enabled the Trust to develop an intensive programme of appearances at its own and others’ public historic road transport events when conditions allow across the region.

Other support underpinning the Trust’s activities includes the Trust Chairman’s commitment to make the museum facility (archive, gallery and display area) at his West Country home available to the Trust free of charge to host Trust events and displays. Similarly, facilities at his base in the Thames Valley, including siting of the former Thames Valley Traction Co.’s Maidenhead waiting room and ticket office and the use of former offices for archive storage and research, are available without cost for volunteer activity and to host public visits when circumstances allow.

The ongoing impact of the COVID pandemic was such that at the start of the year (1 March 2021) the country still faced restrictions in the form of a ‘road map’ which charted the nature (indoor / outdoor), scale, and associated precautions (masks / sanitisation) for gatherings with progressive relaxations through to mid-summer 2021 subject to an ongoing decline in infections.

It is important that these circumstances are recalled as the restrictions and uncertainty pervaded planning for all aspects of Trust activity in the year, whether working groups in the vehicle workshops or archives, Trustee and Supporter meetings/gatherings and the public participation events across the country which in normal times attract thousands of people and are a primary source of Trust income. The impacts of COVID affecting people’s confidence to go out and participate in group activities through 2021 and 2022 also need to be recognised.

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THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

Having had to cancel important centenary celebrations in 2020-21, the Trust had approached the 2021 calendar year with optimism, planning a sequence of public events to its former timetable, celebrating centenary+1 anniversaries where appropriate. However, road map limits affecting the size of gatherings and conditions in enclosed spaces disrupted these plans. As in 2020-21, success cannot therefore be measured meaningfully using traditional metrics such as passenger numbers, volume of programme sales etc but instead the Trust has maintained a constructive presence focussed on what can be done.

Engagement of Trust Supporters as volunteers in archive and vehicle restoration and maintenance working groups was gradually restarted as permitted by the Government’s COVID road-map having been stopped for several months in 2020-21. By the end of 2021, three-weekly and monthly archive days were in full flow in Berkshire and Devon respectively, and twice weekly vehicle working groups with multiple work fronts in Berkshire. Vehicle restoration in Devon has necessarily been ad hoc to fit with volunteers’ shift work patterns.

Trustees continued to ‘meet’ remotely or with a hybrid remote/in-person mix. The availability of on-line Zoom or MS Teams systems offers useful flexibility for geographically dispersed officers. As permitted by the Charity Commission in October 2021 the Trust’s Annual General Meeting was held in hybrid form.

The Trust’s archive and small object collection is held at its bases in Berkshire and in Devon, with volunteer teams at both locations who meet on a regular basis to identify, sort and catalogue material donated to the Trust in order to make it accessible for public study. Following the restrictions necessary due to the pandemic, which meant that the teams could not meet ‘in person’ for several months, the Devon team have met monthly, whilst that in Berkshire have done so every three weeks, and in addition, some work has taken place off-site in between times, to, for example, make use of specialist skills to scan photographic slides. For the Berkshire team, this has amounted to about 1360 volunteer hours in the year under review and in Devon a further 232 volunteer hours have been devoted to this activity.

During the period, a number of large collections have been donated to the Trust, some from former industry employees or enthusiasts who have bequeathed material to the Trust. Whilst a large proportion of these are photographs, there is a wide range of material, both in terms of time period (from the 19[th] century to the 21[st] ), geographical area, or category – not just ‘paper-based’, but artefacts relating to the operation of public road transport. Arrangements were developed through the period to transfer any duplicate items to the other of the Trust’s sites, to facilitate research there, but also for security.

A major project was initiated to digitise 8mm cine film taken by the late Mike Stephens from the 1960s onwards and donated to the Trust. Specialist skills were engaged to clean, retime and recolour films to create archive quality and viewing copies for posterity so the risks of running fragile film through rare obsolete equipment are avoided. Work commence on material where annotations clearly show an association with the Trust’s main areas of focus as this will be a particular draw for future audiences.

The resources in the Trust archive are also available to researchers. In the reporting year this was principally from Trust Supporters and has resulted in articles not only in the Trust’s own publications, but also in those available to the wider public. The archive teams at both locations include people with a range of specialist knowledge, which not only facilitates the indexing of material, but also enables the Trust to answer enquiries received from those not able to visit the archive in person.

The configuration of laptops procured in 2021 as the pandemic hit, has progressed with ten full Microsoft suite licenses obtained by the Trust with zero charge following approval on the

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THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

corporation’s not-for-profit scheme. The accompanying cloud-based storage will provide the basis for shared access to resources with centralised secure storage of Trust files and archive and other data over which access can be enabled and controlled.

Right at the end of the period (18 February 2022) Storm Eunice brought a tree down on overhead power cables attached to the wall of the Trust’s Berkshire Archive office ripping the end wall from the building. No persons were in the vicinity and all archive material was safe in the back store but the archive room was out of use for the remainder of the reporting year and into 2022-23 while the landlord’s insurers reinstated the structure and made safe the incoming services. The former Maidenhead waiting room and ticket office also on the site, provided an alternative venue for archive work to continue minimising the interruption.

The Trust’s annual programme of events is central to its delivery of public benefit giving people the opportunity to experience bygone travel, learn more about the heritage vehicles and the social history they represent. As pandemic restrictions eased, the Trust responded with a programme of events that could proceed in some form, even if the format had to be modified to limit close contacts.

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THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

motivator. Special risk assessments and COVID-specific measures for passengers were introduced and scheduling avoided narrow routes congested with stay-cationers and also ensured frequent departures minimised crowds in the bus station hub. 34 vehicles ran in service giving 3835 well-spaced passenger journeys with 100 accompanying dog journeys. At the request of Tally Ho Coaches, the running day was combined with a launch of their new integrated Transport service (funded by Devon County Council and Great Western Railway) connecting Salcombe to Totnes via Kingsbridge by bus with the national rail network. Anthony Mangnall MP and mayors from Salcombe and Kingsbridge plus company officials and invited guests, visited the Trust’s museum for the launch before travelling in the oldest participating vehicle driven by Trust Chairman Colin Billington so their arrival at the bus station signalled the start of the Running Day.

The Kingsbridge event also marked SU60+1 with eight SUs, almost matching Kingsbridge’s maximum allocation, parking between services at the former Western National depot and participating in an SU cavalcade around the town as a grand finale to the day. The accompanying souvenir programme included specially produced articles on West County SUs (by Trustee David Sheppard) and on the history of Totnes-Kingsbridge-Salcombe bus services (by Trustee Colin Billington and Supporter Bryan Gibson) putting the activities of the day in heritage context.

In addition to Trust events, participation in third party activities resumed, particularly enabling ideas to be shared to benefit Trust events.

In previous years event success was measured in terms of (a) passenger journeys for members of the public carried on vintage bus services by Trust vehicles or on vehicles attending Trust events (24,758 in 2019-20), (b) the number of (vehicle) days Trust and Trustees’ vehicles participating in TV&GWOT events were on the road on public display (262 vehicle days in 2019-20), and (c) the associated mileage covered (19,692 miles in 2019-20). Such metrics remain meaningless in 202122 conditions for comparison with pre-pandemic years. However, vehicles were out on the road and seen by the public in the reporting year with passengers starting to be carried towards the year end. These metrics will therefore be revisited in future years.

Other measures in 2019-20 were the sale of over 1,700 programmes (at £4-6) at Penzance, Didcot, Tavistock and Kingsbridge events containing articles of historic interest and some 250 sales (£12.95) of the TV&GWOT book written for the Reading Motorbus centenary event. Similarly advertising opportunities in event programmes drew revenue from the major transport companies and a range of local businesses in 2019-20. Losing this with the absence of public events in the early part of the reporting year again impacted the Trust’s 2021-22 income albeit to a lesser extent than in 2020-21. A further knock-on effect without events was the loss of a catalyst for local and regional press and broadcasters to engage, as they normally would, publicising the charitable activities. The indirect benefits, encouraging greater public interest and involvement in the Trust more generally, were also lost. There were signs of recovery with the success of the COVID-safe Kingsbridge event in September 2021 so these metrics will be revisited in future years.

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THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

Vehicle Restoration work continued through the reporting year, accelerating when volunteer working groups were able to re-commence as pandemic restrictions eased. In Berkshire some 747 Supporter hours were recorded contributing to restoration efforts with a further 160 hours expended in Devon. Vehicle-specific activities included:

Ahead of the Kingsbridge event in September, all participating vehicles were required to have MoTs or roadworthiness inspections (as appropriate to their age / taxation class). This applied equally to Trust loan vehicles and Trustee-owned vehicles made available for the event. Commercial inspection services and those of suitably qualified Supporters were deployed with defects and any resulting rectification required being recorded. Necessary remediation was carried out before

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THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

vehicles were used on passenger service. This was a major task after such a period of inactivity to ensure events could be held safely.

A significant contribution to the trust’s public profile, comes from the hard work of Supporters who volunteer time in the run up to events and excursions to clean and polish vehicles inside and out, and assist with vehicle maintenance checks, lubrication, fuelling etc.

Delivery was also taken of sets of destination blinds made to Trust specification by Tearne’s, a long-standing original maker of linen blinds whose business closed in 2021. Trustees Colin Billington and David Sheppard spent considerable time ensuring the design and layout were historically accurate and covered destinations frequented in Trust Running Days. Deploying these around participating vehicles will add to the authenticity of Trust running days, and particularly in the scenes captured by photographers.

Generous funding of the Trust by Supporters continued in the reporting year, particularly through annual renewal donations which contribute to the Trust’s standing and overhead costs. Additional costs of producing an additional newsletter, Service-19, were also covered by donations.

The original appeal to purchase and undertake the bodywork restoration of 556 was fully subscribed within a few weeks in the course of the 2020-21 reporting year and work proceeded as described above. Although showcasing the newly painted bus for the TVTCo+1 centenary was within reach, plans were thwarted by the Government’s delay to the COVID road-map which meant public gatherings exceeding 30 people were still banned on the intended event date. The disappointment was turned to an opportunity to include refurbishment of the interior in the project before the next occasion for its public unveiling. A new “ 556 – The Final Push ” appeal was therefore launched in August 2021 with a leaflet illustrating the quality of the bodywork restoration and seeking funds for seat frames of the correct design to be modified for the narrow 556 configuration, and for timber seat bases to be manufactured and upholstered with moquette to the original specification. Early responses enabled work to commence and, with the donation of the required moquette, a successful outcome was anticipated.

The Trust has also pursued grants and was awarded £400 by the Royal Borough of Windsor & Maidenhead from its voluntary organisations funding scheme to raise awareness within the local communities of the significance of Maidenhead to the origins of the TVTCo. a century (+1 year) ago and to the links to sustainable public transport today with the ‘Thames Valley’ name resurrected for services in the Maidenhead, Windsor and surrounding areas.

Further grant funding opportunities were pursued by the Trust to open new income streams but without success in the reporting year but these efforts have continued with more success in 202223 (see below). The Trust registered with Amazon Smile and began receiving spin-off charitable donations. It further set up a contactless payment device to remove reliance on cash at events and this brought significant revenue that otherwise would have been lost if reliance remained on just cash transactions.

Support from the major transport companies returned in the form of advertising in the Kingsbridge event programme in September 2021. Support from Tally Ho Coaches, Go South West (Plymouth Citybus) and Stagecoach was augmented by Great Western Railway in relation to the integrated transport initiatives. Other local advertisers have also returned encouraging the Trust to include this pre-pandemic funding model for events in future years

Despite the pandemic disruption, the Trust continued to be well resourced financially benefitting from its prudent reserves policy. The Trustees have been able to limit the Trust’s expenditure in anticipation of unpredictable and limited opportunities to generate income while also diversifying its

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THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

funding sources as described above. The landlord of vehicle storage facilities also gave a rebate in light of COVID challenges facing the Trust.

The Trust Supporters Group was established in 2015, for anyone interested in the work of the Trust and wishing to provide financial and/or volunteer support. During the 2021-22 year the number of Supporters rose substantially from 238 at the start to 263 at the year end despite the absence of public events which normally present recruiting opportunities. This strong position reflects an almost complete renewal by existing Supporters in May 2021 and a steady influx of new Supporters throughout the year.

During the period, the Trust produced four editions of its quarterly Supporters' magazine, To and fro' . The magazine comprises a mix of Trust news, reports on activities and original, high quality articles on historical topics within the Trust's scope. The latter are produced by Supporters, some of them regular correspondents, who are able to make full use of the Trust's collections and their own material to research and illustrate the topics. The result is a high quality publication which inspires and furthers interest in our core topics, exploits and showcases the Trust's collections and has a lasting and cumulative value to Supporters.

With the organisation of the Trust’s archives ever improving, a growing number of To and fro’ authors draw directly on them for research and illustration purposes. This has not only enriched the scope and depth of articles within the period, but has also enhanced the magazine’s role as a means of public access to our collections.

The enforced interruption in Trust events during the pandemic, then limited participation as activities resumed, continued to give editorial challenges during the period. Fortunately increased input from Supporters on historical matters has compensated for the lack of event reports and the increased average length of To and fro’ delivered in 2020-21 has continued (at around 44 pages) with a ‘bumper edition’ running to 52 pages in the Summer of 2021. Through the reporting year the content, contributing to the public education in the history of the Thames Valley & Great Western and successor companies, was as follows:

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THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

complement the piece, the original services that took Royal Blue, with other operators, beyond its traditional boundaries in north Kent, Essex and East Anglia were described. The role of Thames Valley promoting and serving the 1951 Festival of Britain event 70 years on was illustrated and a remarkable tale of a much travelled Thames Valley Bellgraphic bus ticket secreted in a preserved vehicle for over 70 years was told. North Devon as witnessed in the 1960s was presented, then reminiscences of day trips from Plymouth into Cornwall in June 1971 by ‘Travel Anywhere Bus Ticket’ were recalled. History created at the turn of 1982/3 as WNOC made its final journey in Weymouth was captured. Readers were challenged to identify vehicles by their interiors in a pictorial quiz.

The content throughout is original and provides an important historical record from authors’ research. Together the magazines issued in the current reporting year contained 32 original and exclusive features (2020-21: 40), of which 22 were historical articles (2020-21: 23). They featured and interpreted 278 images (2020-21: 246), of which 200 (2020-21: 186) were historic and/or from the Trust's archives.

Back numbers of To and fro’ are normally sold at modest cost on the Trust’s sales stand at events but the ‘Shop’ facility on the Trust’s website proved so popular during the year that some editions are now out of print. Sales not only generate useful revenue but also encourage wider engagement with the Trust and extend the access to material in Trust archives.

Charitable accounts have been established on eBay, Paypal and Square to diversify the routes for the Trust to secure payments with minimal charges as the providers offer favourable terms to notfor-profits / charities.

When the pandemic hit (in 2020-21), the Trust recognised communication with Supporters was a priority as they provide the foundation for the Trust’s future. In addition to the flagship magazine To and fro’ , an informal Newsletter ( Service-19 ) was produced to keep Supporters in touch while normal opportunities to meet and advance Trust interests were on hold. Running to as many as 24-pages, articles, comments and curios from Supporters’ were compiled in conversational style to elicit feedback and interaction between Supporters. It was extremely popular and successful so in the current reporting year (2021-22) 9[th] and 10[th] editions were circulated by email (or in hard copy for those without internet) in March and May of 2021 with a final (11[th] ) edition rounding off the initiative at the turn of the calendar year by way of festive treat.

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THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

Service-19 served a valuable purpose in the barren days of the pandemic but with the resumption of in-person events attracting swathes of the wider public as 2021 progressed, it was recognised that without significant additional resource the Newsletter with its limited circulation was not sustainable nor did the same need persist. The letters section in To and fro’ will however be expanded to accommodate more dialogue between Supporters and, beyond the year end, consideration has been given to a novel online forum to give a contemporary and sustainable twist to facilitate the interaction.

TV&GWOT Chairman, Colin Billington, is also Deputy Chairman of the National Association of Road Transport Museums (NARTM). He also performs two specific functions for NARTM in a voluntary capacity – (1) the development of strategy for and management of NARTM’s lobbying of regulatory bodies and responses to relevant public consultations, and (2) responsibility for NARTM guidance to its members on the provision of free bus services in furtherance of the charitable aims of NARTM’s members. Activity in the 2021-22 year included addressing concerns about the use of ageing tyres on heritage vehicles and the introduction of tyre safety management procedures.

Within the period NARTM received a significant, seven-figure, legacy and TV&GWOT Chairman in his NARTM capacity was heavily involved dealing with legal and investment aspects as well as strategy for future expenditure to benefit the road transport museum movement. A principal aspect has been in relation to skills development and the potential for an apprenticeship scheme. This work has involved extensive liaison with other heritage / transport bodies and networking which has significant benefits to TV&GWOT alongside the NARTM objectives.

Heritage sector links have been maintained, for example with the Archives and Records Association , which have produced a variety of webinars and online training courses which Trustees have participated in to advance skills and knowledge required for the Trust. Government funded initiatives such as Heritage Digital and Learning Through Data have provided specific guidance through webinars and online workshops related to an online presence which Trustees have participated in and now subscribe to newsletter style policy updates. The Trust has continued to be involved with the Land Transport Archive Network , coordinated by The National Archives as an informal network for archivists, curators, custodians and researchers, interested in the care and use of archives relating to any aspect of any form of land transport: including vehicles, operators, personnel, passengers, manufacturers, freight and infrastructure. TV&GWOT Trustee Helen Bolt is progressing the LTAN survey activity in the passenger road transport sector into the scope of archive holdings.

The website is vital for the Trust to maintain ‘virtual’ contact with the public (providing up to date reference material about the Trust’s objectives and constitution, activities and events, the collection and opportunities to get involved as a Supporter as well as access to educational materials through the online shop facility) and is complemented by the Facebook page (providing real time updates on Trust activities).

The Trust’s social media continued to play a significant role in achieving public benefit throughout the period, particularly during ongoing challenges resulting from the pandemic. Social Media gave an outstanding opportunity to enhance the Trust’s visibility, promote interest in its work and collections and to increase both its virtual and real world supporter base, particularly when inperson participation was limited.

The Trust’s Facebook page is its primary social media presence. Its overall success may be measured by an aggregate number of ‘followers’ (encompassing all who subscribe to updates), though individual posts may travel way beyond that audience to achieve a higher ‘reach’ (the

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THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

number of users who encounter the post) and ‘engagement’ (the number who react in some way). Highlights from the 2021-22 year include:

By all measures the page saw further significant growth throughout the period and remains the market leader in both the Thames Valley and West Country areas, among those for comparable groups and charitable Trusts, by a significant margin.

Since the end of the period, the Trust’s Facebook following has grown to 2,570 (+14% year on year). Many more users receive the Trust's content virally as a result of both organic and strategic sharing of our posts resulting in the levels of reach and engagement recorded above.

In common with most comparable organisations, the Trust’s virtual following far exceeds the number actually subscribing as Supporters. During the period, several initiatives were launched (and are ongoing) to translate virtual interest into volunteering and financial support, including the use of ‘teaser’ content to promote opportunities to help or spend. However, the Trust recognises that a major appeal for many social media users is the ability to engage free-of-charge and without commitment, and therefore material growth in this area is not unlimited. The Trust is therefore content to continue serving this sizeable audience primarily as a means of attracting the public to attend events, as well as enhancing access to our collections thereby delivering public benefit.

The Trust acknowledges the skills and creativity of social media lead, Trustee David Sheppard, and the technical help of the webmaster, Supporter Gerry Tormey, which underpins the Trust’s success in engaging the public in the online arena. These communication routes are maintaining and increasing awareness of the Trust and helping engage new Supporters from far afield.

Where opportunities to network with other organisations, whether by making presentations or hosting visits, were eliminated by the pandemic in 2020-21, such activity resumed in the current reporting year. Group visits, which normally form part of their annual programmes, were slower to resume given the lead time for them to be organised but are once again features of the Trust’s outreach activity beyond the year end. Activities within the period included:

18 September 2021 - At the request of Tally Ho Coaches, the Trust’s Kingsbridge running day was combined with a launch of their new Integrated Transport Service (funded by Devon County Council and Great Western Railway) connecting Salcombe to Totnes via Kingsbridge by bus with the trains to and from the Capital. Anthony Mangnall MP and mayors from Salcombe and Kingsbridge plus GWR and Tally Ho company officials and invited guests, visited the Trust’s Devon museum for the launch.

30 September 2021 - Trustee David Sheppard gave an informal tour of the Trust’s South Devon base to long serving Stagecoach East Midlands employees Richard and Lynn Hill. Lynn works as PA to the company Directors and Richard has latterly served as a Driving Instructor after a

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THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

successful career as a Driver. Richard is also a keen preservationist having taken a lead role in preserving the company’s 1961 Bristol SC4LK bus, and was keen to visit the Trust’s base to further his knowledge and understanding of the type’s successor, the Bristol SU.

Stagecoach Long Service Awards - Trustee David Sheppard compèred a series of events attended by staff, industry figures and opinion formers for different regions through the year, on each occasion including an overview of the Trust’s work.

9 October 2021 – Stagecoach East in Cambridge - c.400 staff,

30 October 2021- Stagecoach East Midlands, Lincoln – c.500 staff and delivered alongside the company’s heritage vehicle a 1961 former Lincolnshire Road Car Bristol SC4LK

19 February 2022 – Stagecoach North East, Newcastle – c. 600 staff.

22 October 2021 - Trustee David Sheppard gave an informal tour of the Trust’s South Devon base to BBC Home Affairs Correspondent Ben Woolvin and his party of ten. Ben and his family are regular attendees at the Trust’s Kingsbridge Vintage Bus Running Day and have been keen to encourage a growing interest in buses among the children.

14 December 2021 – Trustee Colin Billington gave a talk to the Great Western Society ’s Bristol Branch on Great Western Road Motors. The talk drew extensively on records from the Trust archives and covered the GWR Guy bus (Fleet No. 1268) on long-term loan to the Trust.

The pandemic restrictions meant that the volunteer effort in relation to archive and vehicle working groups and preparing for and running public events was necessarily suspended in 2020-21. While Trustees, the webmaster and some members of the Berkshire archive team were active from home the activity fell significantly short of the 17,300 volunteer hours recorded for 246 individuals in 201920. The road map in place at the start of the reporting year (March 2021) provided the basis for activities to resume, albeit with precautions, and the Trust was fortunate that Supporters returned eager to get back involved. This voluntary effort is the backbone of the Trust’s ability to deliver public benefit and preserve the collections for posterity. Aggregate figures for the current reporting year 2021-22 show 205 individuals helped with Trust activities, contributing 10,500 volunteer hours , with 120 of these volunteers (2019-20; 210) involved in crewing the 77 different vehicles (2019-20: 121) which attended TV&GWOT events.

The Supporters’ group is a primary source of volunteers, providing a focus for like-minded individuals to identify with the Trust objectives and have the satisfaction of contributing to a shared endeavour while bringing educational benefit and enjoyment to the wider public. Of the 264 people registered as Supporters at the year end, a significant proportion have been actively engaged in working groups, participating around events, contributing as advisors or research correspondents and helping fund projects. Trustees wish to thank Supporters and other volunteers for their continuing input and help in ensuring the success and future sustainability of the Trust.

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THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

ACTIVITY & PUBLIC BENEFIT IN 2022, BEYOND THE 2021-22 REPORTING YEAR END

With the pandemic restrictions on movement and gatherings receding and the confidence of individuals to mix and organisations to plan activities returning, the Trust approached the 2022-23 year with optimism. Trustees recognised the importance of re-engaging Supporters to enthuse them and to enlist their energy to undertake the many tasks that keep the organisation running and able to educate the public in the history of Thames Valley, Great Western and successor companies.

To this end Supporters were invited to a series of Supporter Open Days at the Trust’s Devon and Berkshire premises on 5 March and 26 & 27 March respectively. Some 108 Supporters participated over the three days and were brought up to date with archive, vehicle, administration and event activities and opportunities for involvement as they were taken on tours around the premises. The days included lunch and the chance for Supporters to catch up with one another as well as a trip out on Trust vehicles over Gara Bridge in Devon and through Windsor and the Great Park in Berkshire. There was the opportunity to review the archive cine film recently digitised from Mike Stephens’s collection. Each day concluded with a group discussion where Supporters were able to contribute ideas and suggestions as to how the Trust can expand and strengthen its work.

The Supporters’ Group has continued to flourish with 28 new Supporters coming on board in the seven months beyond the year end. This is a significant inflow with many joining at events and/or seeking access to Trust publications like To and fro’ (including back numbers). Three further editions of the Supporters’ magazine To and fro’ have been produced containing a further 18 original and exclusive features, of which 13 were historical articles. They featured and interpreted 205 images, of which 142 were historic and/or from the Trust's archives.

Engagement of Trust Supporters as volunteers in vehicle restoration and maintenance working groups is flourishing, with an expanded cohort and twice-weekly sessions in Berkshire. Archive activity in Berkshire was set back at the start of the 2022-23 year because of the repairs to the archive office necessitated by damage in storm Eunice on 18 February. By mid-summer the archive team was back to three-weekly sessions with additional work being done by Supporters in their own homes and complemented by a monthly gathering of the archive working group in Devon.

The Trust’s archive and small object collection has continued to receive significant donations as collectors and people who formerly worked in the industry are increasingly recognising the Trust as a dependable custodian of materials related to the Thames Valley and Great Western/National Omnibus & Transport companies and successors. The resources available in the Trust archive are also being made available to researchers and the use and availability of materials further encourages donors. To this end the Trust’s registration on The National Archives ARCHON database (Code 3565) is an important step in raising its profile and accessibility. The archive teams at both locations include people with a range of specialist knowledge, which not only facilitates the indexing of material, but also to answer enquiries received from those not able to visit the archive in person. In previous periods enquiries have mainly come from Trust Supporters and have resulted in articles not only in the Trust’s own publications, but also in those available to the wider public. Beyond the year end external enquiries have also come through for example from a researcher interested in a specific collection he knows to be held in the Trust’s Berkshire archive and in Devon from a Councillor interested in drawings and photographs of Kingsbridge Bus Station from which to develop a historical display of the quayside site from the 1930s to the present day.

A key element of accessibility is the recording and cataloguing of the collection in a manner that is consistent across the Trust locations and in line with Sector standards for accreditation. Policy and procedure development and systems to utilise secure, centralised digital storage from Trust-owned laptops has progressed further and remains a priority in the 2022-23 period. In addition Trustees have attended National Archives’ seminars on the use of their Manage Your Collections facility in Discovery as a readily accessible starting point for third party online access.

Page 16

THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

A spin-off of improved archive practices is the ability to identify duplicate materials. In the first instance duplicate items are relocated to the other of the Trust’s sites, to facilitate research there and give back-up security. Beyond that copies surplus to requirements can, subject to the donor’s explicit permission, be offered for sale to raise funds towards the purchase of archival quality storage and preservation materials. The necessary systems to process this have developed beyond the 2021-22 year end with archive revenue being generated in this way on sales stands in the summer of 2022.

A full programme of events has taken place for the summer season beyond the year end. There have been some challenges due to competing events (not just within the transport heritage sector) as many individuals and organisations have tried to reinstate plans thwarted for two years by the pandemic. The significant increase in fuel prices combined with the rising cost of living have been a matter of concern, but the Trust has been encouraged by the enthusiasm and generosity of owners to bring their vehicles considerable distances at their own expense to participate in events and similarly for enthusiasts and the wider public to come along.

In addition to its normal vintage bus running day events , the Trust took on a major programme of activities with Victoria Coach Station to mark its 90[th] anniversary. An official event to mark the anniversary, a running day, a static display and the production of a book to chart the history to date have placed significant additional demand on Trustees but have raised the Trust’s profile with new audiences. With new publications and surplus material from the archive supplementing the Trust’s sales stock, opportunities have been taken to attend third party events with a sales stand, widening awareness of the Trust in other regions.

The chronology of Trust events and events attended by the Trust since the start of the 202223 year until October is as follows:

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THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

Page 18

THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

Beginnings . Eight Supporters travelled to the event from TV&GWOT’s base but many tens more were at the event and congregated at the Trust’s sales stand, which provided an important local opportunity for keeping in touch as well as recruiting new Supporters and distributing educational material.

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THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

Metrics to measure success in pre-pandemic years can be re-examined in 2022-3. In terms of: (a) passenger journeys for members of the public carried on vintage bus services by Trust vehicles or on vehicles attending Trust events – 16,927 to date in 2022-23 compares with 24,758 in 201920; (b) for the number of (vehicle) days Trust and Trustees’ vehicles participating in TV&GWOT events were on the road on public display - 236 vehicle days to date in 2022-23 compares with 262 in 2019-20; and (c) the associated mileage covered – 18,285 miles to date in 2022-23 compares

Page 20

THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

with 19,692 miles in 2019-20. The differing nature and number of events in the two periods accounts for the differences.

Other measures include the sale of some 1,150 programmes (at £4-6) at Penzance, Didcot, and Kingsbridge events containing articles of historic interest compared with over 1,700 in 2019-20 (when there was an additional Tavistock event) and some 325 sales (£15) of the TV&GWOT VCS90 book so far , where 250 copies (£12.95) of TV&GWOT’s Reading Motorbus centenary book were sold in 2019-20. Sales of the latter are ongoing including 17 beyond the 2021-22 year end indicating this should be a continuing revenue stream.

While measures are not at the levels seen pre-pandemic this reflects a degree of caution on the Trustees part, in the extent of print runs and the level of event promotion to ensure arrangements remained manageable and COVID safe. The Trustees are confident that the 2022-23 performance to date is a sound basis for future growth and evidences the resurgence in public interest in TV&GWOT activity post-pandemic.

Opportunities to engage a wider network of individuals and organisations have multiplied beyond the year end and, despite the workload, the Trustees have responded recognising the importance of the raised profile and financial income to the Trust that such activities bring. In the 2022-23 year to date activities have included:

2 April 2022 – Use of Reading Transport VR No. 38 owned by the Trust to transport members of the British Trolleybus Society on a tour of former trolleybus routes in Reading organised by BTS member and Trust Supporter, Dave Hall - 38 BTS members took part.

9 April 2022 – Trustee David Sheppard was the guest speaker at the South Devon Railway Association annual dinner , held at Birdie’s Kitchen in Buckfastleigh. He addressed around fifty members of the Association, including the daughter of the late Reverend W. Awdry, creator of The Railway Series, speaking about the forthcoming 150[th] anniversary of the opening of the Buckfastleigh, Totnes and South Devon Railway. He gave a lively account of his own 30+ years in preservation and outlined the work of the Trust, particularly its connections with the Great Western Railway and South Devon.

Stagecoach Long Service Awards - Trustee David Sheppard compèred a series of events attended by staff, industry figures and opinion formers for different regions through the year, on each occasion including an overview of the Trust’s work.

29 April 2022 – Stagecoach Yorkshire in Sheffield - c.400 staff,

14 May 2022 – Stagecoach North East in Newcastle – c. 500 staff.

18 June 2022 – Stagecoach North East in Newcastle – c. 500 staff.

26 May 2022 – Trustee Helen Bolt participated in the Francis Clark annual seminar for charities covering latest Charity Commission developments including legal matters, prevention of cybercrime and fraud, and updates on accounting and VAT specific to the sector. The availability of professional advisors and other charities large and small for networking makes this a valuable forum to ensure the Trust’s public benefit is delivered in a compliant manner.

5 June 2022 – Trustee David Sheppard drew the raffle for Exmouth Museum at the culmination of the town’s celebrations for the Queen’s Platinum Jubilee. He spoke about the importance of making history accessible and relevant in the future and gave an outline of the Trust’s approach in this regard.

11 June 2022 – Use of newly restored Thames Valley L No. 556 to transport principal donors and special guests to Alexander Devine Children’s Hospice in Maidenhead from remote parking for their 15[th] anniversary ‘thank you’ event. Some 90 passengers were carried on return trips through the day.

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THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

6 July 2022 - Trustee David Sheppard gave an informal tour of the Trust’s South Devon base to retiring Showbus organiser, Martin Isles, and former BBC Spotlight Editor , Ed Goodridge, both enthusiastic followers of the Trust’s work and keen to find out more about the collections.

16 July 2022 - 24 people from the Kingston Historical Society visited the Trust’s Devon base for a talk about local transport history and the activities of the Trust, a tour of the archive and workshops and a trip on Trust Chairman’s Bristol SUS (Western National No. 600) through the Avon Valley area of outstanding natural beauty.

22 July 2022 – the Trust’s Devon facilities provided the base for 25 town criers from the UK and overseas to travel to Plymouth for an international competition in the City Hall. Trust Chairman, Colin Billington, used his Western National Bristol L No. 1218 to transport the town criers and consorts in their finery.

23 July 2022 – the Trust hosted the Provincial History Research Group of the Omnibus Society at its Berkshire base for their AGM. Trustee Peter Delaney gave a talk about the Trust’s archive collection in the former Maidenhead ticket office now owned by the Trust and re-erected on its Berkshire site showing interesting artefacts held in the collection. The digitisation of the late Mike Stephens cine films by the Trust was of considerable interest as they feature OS Tours, some 50+ years ago - an online presentation to regional groups and potential funding of further work resulted.

24 July 2022 – Trustee David Sheppard performed the official opening of Paignton Festival on behalf of the BBC and Torbay Old Wheels Club . On display were his and his father’s 1962 Bristol SUL4A coaches, former Western National Nos. 420 and 425 (270/5 KTA). They had been brought together to mark the 60[th] anniversary of their delivery that month, as explained in David’s opening speech and the event programme.

7 October 2022 – some 20 members of the National Transport Trust visited TV&GWOT in Berkshire for a talk on the collection to see the workshops and take a tour of Windsor in Bristol LS Royal Blue No. 1286 (on long-term loan to the Trust). The tour ended with TV&GWOT neighbour, David Buck, who gave rides on his full scale railway steam engines over track in his grounds.

12 October 2022 – the Berkshire group of the Vintage Motor Cycle Club came by their own stylish mode of heritage transport to visit the Trust for a talk, tour of the facilities and trip around Windsor in Bristol LS Royal Blue No. 1286 (on long-term loan to the Trust). 18 BVMCC members took part in the event suggested by Trust Supporter Victor Youel.

18 October 2022 – a group of TV&GWOT Supporters worked with Trust Chairman Colin Billington to assist the Great Western Society repatriate a former GWR fire tender from the Science Museum at Wroughton to Didcot. Extensive planning in the months before, detailed risk assessments and provision of road transport meant the Trust was able to help the organisations achieve their heritage objectives.

25 October 2022 – the Chartered Institute of Logistics & Transport (Central Southern Region), through Trust Supporter and CILT Board member Richard Mallett, invited TV&GWOT to be represented at their regular meeting as a basis for exploring how the Trust might provide interest to members and how members might use professional skills to help support the Trust. Trust Chairman, Colin Billington attended, networking with CILT members and learning from the evening with Mark Hopwood, CBE, Managing Director of GWR.

In the months beyond the 2021-22 period end vehicle restoration work has continued:

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THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

carburetor defect. Packing of selector springs in the gearbox stabilised issues with reverse gear. Fan belt adjustments and work on spark plugs improved running / reducing mis-firing. Work to improve seat fixing and floor covering/mouldings was undertaken. A larger steering wheel, as probably fitted original was sourced and installed to improve driver control.

Ahead of the Trust events and other outings through 2022, all participating vehicles were required to have MoTs or roadworthiness inspections (as appropriate to their age / taxation class). This applied equally to Trust loan vehicles and Trustee-owned vehicles made available for use. Commercial inspection services and those of suitably qualified Supporters, particularly Trustee Graham Green, were deployed with defects and any resulting rectification required being recorded.

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THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

Necessary remediation was carried out before vehicles were used on passenger service. This is a major task, particularly so since some vehicles were seeing first use since COVID restrictions had limited their use.

Former Exeter Corporation Transport Massey-bodied Guy Arab IV double deck No. 74 (974AFJ) was donated to the Trust in July 2022, with a quantity of spares by Trust Supporters. Sponsorship for ongoing care of the vehicle was secured and initial inspection showed the vehicle to be in good mechanical order although some bodywork repairs / improvements are required for it to be used to carry passengers at public events in 2023-24. The bus was new in July 1960 passing to Devon General as No. 275 in April 1970 and on to Western National in January 1971.

In his role as Deputy Chairman of the National Association of Road Transport Museums (NARTM), Trust Chairman Colin Billington has continued involvement in the work investigating skills development and the potential for an apprenticeship scheme in light of the seven-figure legacy vested in NARTM. This work has significant relevance to TV&GWOT alongside the NARTM objectives. Beyond the 2021-22 year end, detailed discussions have proceed with the Heritage Skills Academy towards establishing an apprenticeship scheme appropriate to buses and coaches and other large commercial vehicles in collaboration with the London Bus Museum (Brooklands) and London Transport Museum (Covent Garden and Acton)..

Generous funding of the Trust by its increasing number of Supporters has continued beyond the 2021-22 year end, particularly through annual renewal donations in June/July 2022 which contribute to the Trust’s standing and overhead costs.

The original appeal to purchase and undertake the bodywork restoration of 556 and contributions to the “ 556 – The Final Push ” appeal were generally made as lump sums or monthly instalments. Those monthly contributions have been completing their term beyond the 2021-22 year end but it is gratifying that some contributors have opted to continue their regular donations. Others are enquiring about future opportunities to provide project support and, to this end, preparatory work has begun as described above to plan the restoration of 1953 Southern National Bristol KSW6B No. 1852 (LTA995) which was purchased from Haynes Motor Museum in 2017. Now the Trust has a strong track-record in successful vehicle restorations and project execution, the aim is to augment Supporter donations with matching grant funding and work to scope the requirements and identify funding sources has commenced in earnest beyond the 2021-22 year end.

The revival of support from the major transport companies in the reporting year 2021-22 has been a significant contributor to the Trust’s programme of events enabling public benefit to be prioritised. Further work to develop messaging that is effective in associating the pleasures of a vintage bus day out with the economic and environmental benefits of increased bus usage in daily life is underway. In turn it is hoped this will ensure relationships with the transport companies can flourish. The advertising from other local businesses around events is also valuable and new ideas are being explored to match products and services to event audiences thereby encouraging increased advertising revenue.

Other opportunities for grant funding are also being identified and pursued. A presentation of the archive cine-films digitised in the 2021-22 reporting year to a visiting group has led to the promise of a donation of £2,500 from the Omnibus Society from a related legacy to help fund the digitisation, preservation and public access to other films in the collection.

Despite the pandemic disruption, the Trust has recovered well and continues to be well resourced financially underpinned by its prudent reserves policy. The Trustees were able to limit the Trust’s expenditure through the pandemic period in anticipation of unpredictable and limited opportunities to generate income while also diversifying its funding sources as described above. As a result, although growth was set back, the Trust did not suffer financial harm from the pandemic constraints.

Page 24

THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

The return to a full programme of activity beyond the 2021-22 year end has been measured with new ventures such as books and sale of surplus materials pursued to ensure a broader range of income streams involving a wider range of donors / purchasers. This approach will continue through the remainder of 2022-23

RISKS

The Trustees of The Thames Valley & Great Western Omnibus Trust are fully aware of and implement policies to address any risks as appropriate. The risk management strategy comprises:

This work has ensured that financial sustainability in the short (1-3 years) and medium (3-5 years) term is assured because of the reserves held, the funding terms of loan agreements, and securing of commercial advertising associated with key events which all serve to protect the Trust from financial risk.

With the return of inflation beyond the 2021-22 year end, Trustees have explored different investment instruments other than high street banks to limit the risk of reserves being devalued by interest rates significantly below inflation. The approach is cautious balancing the need for capital protection under the Financial Services scheme and access to funds to spend on the Trust’s charitable work, with good rates of return on term investments. Advice from specialist financial advisers has been obtained as this is not an area of Trustee expertise.

Non-financial risks related to health and safety are under constant review with additional consideration of Covid-safe measures. For workshop activity competence is assessed and work supervised as appropriate and expenditure is made where necessary to ensure that equipment is maintained to the required standards. Public educational events such as running days follow best practice guidelines such as that issued by the National Association of Road Transport Museums. It is also recognised that safe and professional conduct of such events is critical to managing reputational risk and measures are therefore addressed in earnest.

The principal risk identified by the Trustees for ensuring the level of activity is sustainable remains the potential for Trustees becoming over-burdened. Spreading the workload more widely was helping to ensure the burden on Trustees was manageable, enabling them to fulfil their strategic as well as day to day roles. However, restrictions in the pandemic did put additional burden back on Trustees who were equipped to maintain the Trust’s profile and core functions from home office environments. The Supporters group was established expressly to provide a pool of volunteers willing to help in a variety of ways. There had been considerable success with help at events with regular working groups established at both South Devon and Thames Valley bases to work on archives and on vehicles but this was halted in the pandemic period. Now that restrictions have been lifted, the regular vehicle restoration and maintenance working parties and archive working groups have been re-established and additional Supporters have become involved. However, the railway and other public sector strikes have also had a significant impact and have restricted attendance and required re-scheduling of several of the Trust major public events. Team Leaders are increasingly taking responsibility for organising the Trust’s work in specific areas which is a deliberate policy to manage risks and over-dependence on individual Trustees. This is intended as a stage in identifying potential additional Trustees and will again be prioritised in line with the strategic plan.

The widespread impact of the Covid-19 pandemic was not previously foreseen and risks had been linked to individual events or activities. The reserves policy and Trustee actions, together, have protected the Trust against these perceived risks and are now embedded in the Trustees’ approach

Page 25

THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

to managing all aspects of Trust activities and resources. The consideration of risks has therefore been continued beyond the 2021-22 year end to address more fundamental risks to the style of Trust activity, sources of heritage funding and the availability of volunteers, particularly bringing younger people on board.

PUBLIC BENEFIT

The Charities Act 2006 introduced the requirements for charities to demonstrate they provided public benefit. In shaping our objectives for the year and planning our activities, the trustees have recognised this and considered the Charity Commission’s guidance on public benefit, including the guidance ‘Public benefit: running a charity (PB2)’. Emphasis has been placed on access and affordability for a variety of audiences as demonstrated in this report. We have sought wide involvement from all within the community and have used social media with considerable success while also providing material accessible to those without internet access.

The Trustees have reviewed the objects, goals, services and objectives of the Trust in this light and can confirm that The Thames Valley & Great Western Omnibus Trust serves the public benefit. Details of the Trust’s charitable activities are provided in the Review of the Year above. The approach has had to be modified in the period in light of the Covid-19 pandemic but the Trustees remain confident that the novel and alternative approaches have delivered significant public benefit to the extent that is reasonable and practicable in the circumstances and can confirm this remains the Trust’s priority. Renewed activity as restrictions lifted has confirmed the public appetite to learn about and experience this aspect of our passenger road transport heritage and the Trust has demonstrated its ability to meet and stimulate the demand.

Trustees & Directors

The Trustees who are also Directors who served during the period were:

Dr C J Billington Dr H M Bolt P M Delaney (appointed 23 January 2022) G G Green D T Sheppard P Snowden (appointed 23 January 2022) M J Williams

POLICIES

Pay policy for senior staff

The Directors/Trustees comprise the key management personnel of the Trust in charge of directing and controlling, running and operating the Trust on a day to day basis. All Directors give of their time freely and no Director received remuneration in the year in respect of their responsibilities as Directors & Trustees. Details of Directors’ expenses and related party transactions are disclosed in Notes 9 and 10 to the accounts.

The Trust has no employees. Work carried out by volunteers and Supporters is done so without charge.

Investment policy

The Trustees have adopted a cautious policy on investment and available funds (restricted and unrestricted) have been held in an interest-bearing account with our bank, Lloyds Bank plc. In order to maximise the return whilst maintaining free cash liquidity, a sweep operated on a daily basis between the current and deposit accounts leaving a nominal current account balance at the end of each day. This facility was removed by Lloyds for all account holders in 2021 and transfers are now managed by the Trust’s Treasurer. Due to wider economic circumstances deposit rates have been depressed but that same uncertainty undermines confidence in other financial instruments so other alternatives had not been pursued. The investment policy and security of

Page 26

THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST (A Company Limited by Guarantee) reserves remains under review and a proportion ol the reserves were placed on money markets via Lloyds Bank to secure a beller rate of interest in May 2018. The action was accompanied by renewed assurance from Lloyds on the security of the capilal sums. Beyond the 2021-22 year end inllalion rates from inlernalional and domestic causes, have not been matched in the interest rates of relurn offered by the high streel banks and, in consultation with professional financial advisers, Ihe Trustees have pursued alternative platforms providing access to beller interest bearing accounts which sti15 offer the security and flexibility requir8d lor th8 Trust reserves. Reserve5 policy and going concern The cumulative current reserve funds at the end ol the 2021-22 period are £195,023 (2021.. £186,198) in the Reslricled Funds and £87,973 {2021.' £72,754) Unrestricted FLJnds. The Trusl's policy had been to hold unrestricted reserves to a level.. lal sufficient to cover risks outside Ihe Trust's control1g.g. inclement W8alherl associated with the major events carried out by the Trust within the year., Ibl lo provide lor the developmenl and 8xpansion ol the Trust's educational and training activities- and Icl lo build up reserves lo provide malch funding as required by grant making bodies lor futuro projects. Previous vehicle acqLJiSitions le.g. Southern National 8ristol KSW 18521 and lulure potential underline the need for significant reserves to be held to address Icl in particular. The Trustees had therefore considered that the appropriale level of reserves should be al least £40,000 when major projects are in the olling. The piudence ol this policy has been confirmed wilh the Covid-19 pandemic when restrictions on activity from March 2020 meant that all the Trust's public events and gatherings Ithe principal mechanism for delivering public benefit and raising lundsl for the 2020-21 financial year had lo be cancelled and were only slowly restarted in 2021- 22. The reserve funds mean the Trust is able to cover ils standing support costs and develop new ways to engage the public and generate fresh revenue streams whilsl also progressing the Trust's obj8cts with advance funding held in restricted funds lor this purpose. In view ol the ongoing uncertainly about COVID and Ihe potential for its resurgence andlor the emergence of other similar pandemics, as well as Ihe impact on Ihe economy and uncertainty over luluie charitable giving and leisure practices for the general public, the Trustees now consider reserves ol at least £55,000 should be maintained and built on where possible for the foreseeable future. The policy will continue lo bo reviowed annually wilh a view lo reducing Ihe reserve leval once the picture is more certain. Five of the seven resliicled funds have zero or positive balances at the year end with formal commitments from benelaclors lo provide financial support sufficient lo cover all outgoings on resloralion projects and associated educaliona118venl activity. RF6 which ring-fences funding for Soulhern Nalional No. 1852 has a small negative cash balance but has a notional fixed asset value of £1,000 Irellecting ils purchase price). RF7, relating lo Thames Valley No. 556, has a negative cash balance bul again this is less than its Iconservalivel capital valuation based on purchase price 1£5,0001 and funding pledges to cover th8 resloralion costs beyond the year end, more than offset the shortfall. In the cases of RF4 IReading VR No. 381 and RF5 (Thames Valley No. 1521 shortfalls In direct funding to the resliicled funds have been offs8t by modest conlribulions from general unrestricted funds. The policy on expendilure is not to commil to any ilem ol expenditure unless income is guaranteed or can be covered by exisling ieserves taking due account of risks and uncertainlies involved. The Trustees have reviewed the circumstances ol the Thames Valley & Great Western Omnibus Trust and consider that adequate resources continue to be available to fund the aclivilies of the Trust fo¥ the foreseeable future. The Truslees are ol the firrn view that the Trust is a going concern. This report was approved by the board on 13 November 2022 and signed on its behall. Dr C J Bllllngton Director Page 27

THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST (A Company Limited by Guarantee) Slatement of Truslees, Responsibilities in relation to the linancial stalements The Trust Trustees (who are also directors of The Thames Valley and Great Western Omnibus Company lor Ihe puYpos8s ol company lawl are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and UK Accounting Standards (United Kingdom Generally Accepted Aceounling Praclicel. Company law requires th8 Trust Trustees to pr8pare financial statem8nls for each financial year which give a Irue and lair view of the slate of affairs ol the charitable company and ol th8 incoming resources and application ol resources, including the income and expenditure, of the Trust for that period. In preparing those financial statements. the trustees are required to.. select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charities SORP- make judgements and estimates that are reasonable and prudent., stale whether applicable UK accounting standards have been followed, subject lo any material departures disclosed and explained in the financial statements- and prepare the financial statements on the going concern basis unless il is inappropriate to presum8 that the Trust will continue ils operations. The Trustees are responsible lor keeping proper accounting records which disclose with reasonable accuracy al any lime the financial position ol the Trust and lo enable them lo ensure that th8 financial slalemgnts comply with the Companies Act 2006. They are also responsible lor safeguarding the assets of the Trust and hence for taking r8asonabl8 Steps lor the prevenlion arKI deteclion of fraud or other irregularities. The Truslees are responsible for the maintenance and integrity of the COTporale and financial information included on the chafilabl8 company's websitg. Legislation in the United Kingdom governing the preparation and dissemination ol financial slalemenls may differ from legislation in other jurisdictions. Statement as to dlsclosure In so far as the Trustees are aware at the time of approving our Trusl88s' annual report.. There is no relevant information, being information needed by the Independent Examiner in conneclion with preparing Ihe report of which the Independent Examiner is unaware, and The Trustees, having made enquiries of fellow directors, have each taker¢ all steps that helshe is obliged lo lake as a director in order lo make themselves aware of any information relevant to the independent examination and lo establish ihal the independent examiner is aware of that information. Preparation of the Financial Statements This report has be8n prepared in accordance with SORP IFRS 1021 lellective 1 January 20151 and the special provisions of Part 15 of th8 Companies Act 2006 relating to small companies. By Order of the Board Bllllngton TrusteelDirector 13 November 2022 Page 28

25 October 2022

THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (Incorporating Income and Expenditure Account) Year ended 28 February 2022

Restricted Un- Total Total
Funds restricted Funds Funds
Funds
2022 2022 2022 2021
£ £ £ £
Income:
Donations & legaciesNote 3 82788 16348 99136 88625
Income from investmentsNote 4
-Bank interest received 0 69 69 254
Income from charitable activities:Note 5
-Sponsorship of education/events 0 1970 1970 0
-Income from education/events 0 3875 3875 822
Income from other trading activities 0 0 0 0
Other income
-Gift AidNote 6 5445 3005 8450 8617
Total Income 88233 25267 113500 98318
Expenditure on:
Cost of raising funds 0 0 0 0
Expenditure on charitable activitiesNote7 80720 9457 90177 79743
Other expenditure 0 0 0 0
Total Expenditure 80720 9457 90177 79743
Net income/(expenditure) 7513 15810 23323 18575
Transfers between funds 1313 (1313) 0 0
Other recognised gains /(losses)
Gains/(losses) on reconciliation of fixed 0 0 0 0
assets
Net movement in funds 8825 14497 23323 18575
Reconciliation of funds
Total funds brought forward 271175 104921 376096 357520
(at 28 February 2021)
Total funds carried forward
(28 February 2022)		 280000 119418 399418 376096

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

Page 30

THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST IA Company Limited by Guarantee) BALANCE SHEET As at 28 February 2022 2022 2027 Flxed assels Tangible assets Note 11 116422 177144 Current assets Stock Deblors Note 14 Cash al Bank and in hand 5052 289479 294531 2145 277024 279169 Liabilitles Creditors falling due within one year Notts 15 Net current assels {11533) 282998 (20216) 258953 Total assets less current liabilllles 399420 376096 The net funds of ihe Tiust: Nol85 17 & 18 Restricted current Reslrieted - fixed Unrestricted current Unreslrict8d fixed 195023 84977 87973 31445 399418 186198 84977 72754 32167 376096 For the financial year in question Ihe company was entitled lo exemption under Section 477 of the Companies Act 2006 relating lo small companies. In preparing these financial stalemenls.. no members have required the company to obtain an audit ol its accounts lor the year in question in accordance with section 476 Companies Act 2006, and the directors acknowledge their responsibility for complying wilh Ihe requirements ol the Act with respect lo accounting records and the preparation of accounts. The accounts have been prepared for reporting in accordance with the micro-enlily provisions and delivered in accordance with the provisions applicable lo companigs subject lo the small companies rogime These financial statements were approved and slgned on the company's behalf. Dr Colln J Bllllngton TrusleelDir8Ctor Pago 31

THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

STATEMENT OF CASH FLOWS
For year ending 28 February 2022
Cash used in operating activitiesNote 19
Cash flows from investing activities
Interest income (bank)
Purchase of tangible fixed assets
Cash provided by (used in) investing activities
Cash used in financing activities
(Decrease) in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Total cash and cash equivalents at the end of the
year		 2022
£
12386
69
0
69
0
12455
277024		 2021
£
31998
254
(7890)
(7635)
0
24363
252661
£ 289479 £ 277024

Page 32

THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

The notes below form part of these financial statements.

NOTES TO THE FINANCIAL STATEMENTS For the period ended 28 February 2022

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

1. Accounting Policies

Page 33

THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

The current threshold for recognising donated goods is £500 for a small object Collection item and £1000 for a large object Collection item (vehicle).

Given their long term value the depreciation rate is 0% for Collection assets. However, where external factors might be considered to impose a step change in valuation (e.g. impact of the pandemic or Government policy affecting the desirability of Collection assets), a re-valuation is carried out. Computer and machinery/equipment assets are added at cost (cost of purchase or cost to refurbish to safe working order in the case of second hand equipment) and depreciated over their estimated useful economic life on a straight line basis as follows:

Asset category Annual rate Computer equipment 25% Machinery/equipment 20%

2. Legal Status of the Trust

The Trust is a company limited by guarantee and does not have share capital. In the event of the Trust being wound up, the liability in respect of the guarantee is limited to £10 per member of the Trust (where members are those Directors/Trustees who are subscribers to the memorandum and articles of association of the company/charity).

3. Donations and legacies

The income from donations includes £16348 to unrestricted funds (2021: £10974) and £82788 (2021: £77651) to restricted funds. Of the restricted fund donations:

Page 34

THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

Trustees’ donations contributed £976 (2021: £248) to the aforementioned unrestricted funds total. Where they have been entitled to and received travel and subsistence expenses in relation to the governance of the Trust (trustee meetings or educational events for public benefit), the Trustees have previously elected to make a donation of similar value to the Trust and the Trust has claimed Gift Aid on these donations. The absence of in-person meetings (and reliance on on-line communications) and cancellation of events due to the pandemic have reduced this significantly in the current year. The amounts donated to unrestricted funds by each Trustee in the period (before Gift Aid was added) were as follows, relating principally to Supporter donations:

orter donations:
Dr C J Billington
Dr H M Bolt
P M Delaney
G G Green
D T Sheppard
P Snowden
MJ Williams		 £
403
402
26
80
0
30
35
976

Annual donations from the growing number of registered Supporters received in the period have been apportioned between financial years (the Supporters’ year runs June to May) and contribute £9184 (2021: £7872) to the unrestricted funds in the period with a further £2453 (2020-21: £2088) carried forward to 2022-23. Supporters have been particularly generous with donations in the year recognising the reduction in income to be generated with curtailed public event under pandemic restrictions.

Other ad hoc donations to unrestricted funds in the year total £7164 (2021: £2854) net of £151.54 electronic payment charges. The figure includes a £400 grant from the Royal Borough of Windsor & Maidenhead for educational activities linked to the Thames Valley Traction Co Centenary (+) celebrations.

The Trust benefits greatly from the involvement and enthusiastic support of its many volunteers and registered Supporters, details of which are given in our annual report. In accordance with FRS102 and the Charities SORP (FRS 102), the economic contribution of general volunteer effort is not recognised in the accounts.

Page 35

THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

4. Investment income

The Trust’s investment income of £69 (2021: £254) arises from money held in an instant access interest bearing deposit account and a longer term deposit account set up in May 2018 to improve the level of investment return. The return is down on the previous year due to low bank base rates.

5. Income from charitable activities

The income from charitable activities to the unrestricted funds is £5845 (2021: £822). The increment is a direct result of being able to restart public events as the pandemic constraints were eased. Events through the spring and summer were necessarily without passengers but a vintage bus running day with Covid precautions in September 2021 demonstrated the public enthusiasm and willingness to contribute financially to events as restrictions further ease.

6. Gift Aid

Gift Aid is claimed on donations from tax payers where appropriate. Gift Aid receipts are accounted for in the financial year the donations are received. Gift Aid contributions for the period total £8450 (2021: £8617), with £5445 added to restricted funds (2021: £6660) where taxpayer donations have been made in relation to a specific restricted fund appeal, and £3005 to unrestricted funds (2021: £1957).

7. Charitable Activities

Expenditure on charitable activities was £90177 (2021: £79743) of which £9457 was from unrestricted (2021: £6881) and £80720 from restricted funds (2021: £72862). Where restoration aspects of restricted fund activity had been able to continue largely unaffected despite pandemic constraints the proportionally large increase in expenditure from unrestricted funds reflects the resumption of events, first as a spectacle and later with the opportunity for

The table shows the cost of the main charitable activities and the sources of income (restricted or unrestricted funds) to finance these activities. The figures include governance and support costs as defined and apportioned in Note 8 below.

Restoration/preservation
projects (tangible assets and
loan collection)
Education / event activity		 Restricted
Funds 2022
£
64559
16161
80720		 Unrestricted
Funds 2022
£
0
9457
9457		 Total Funds
2022
£

64559
25618
90177		 Total Funds
2021
£
72862
6881
79743

8. Analysis of governance and support costs

The Trust identifies the costs of its support functions. It then identifies those of these costs which relate to the governance function (which by law or good governance practice are necessary irrespective of the level of charitable activities carried out). The governance and remaining support costs are apportioned between the key charitable activities undertaken in the year, accounting for commitments within vehicle loan agreements to cover certain base costs from restricted funds. General governance and support costs to be covered by unrestricted funds of £5720 (2021: £5393) are apportioned in full to the principal charitable activity of education and events. Support costs covered by restricted funds of £6618 (2021: £4958) under the loan agreements are allocated to the charitable activity associated with restoration and preservation.

Page 36

THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

Governance costs
Accountancy
Travel & subsistence for
trustee & business meetings
Insurance (liability)
Professional fees
Co Hse filing fee / charges
Subscriptions (NARTM)
Total Governance:
Other support costs
Website
Supporter admin costs
Insurance (event vehicles)
Bad debt
Rent & rates
Depreciation
Computer running costs
Maintenance
Archive supplies
Workshop supplies
Sundry expenses
Total Other support:*		 Restricted
Funds 2022
£
0
0
0
0
0
0
0
0
0
804
0
3395
0
0
0
1267
1153
0
6619
6619		 Unrestricted
Funds 2022
£
0
0
1532
0
13
25
1570
86
3101
0
0
0
722
0
0
0
0
241
4150
5720		 Total Funds
2022
£

0
0
1532
0
13
25
1570
86
3101
804
0
3395
722
0
0
1268
1153
241
10769
12339		 Total Funds
2021
£
0
0
1202
1932
13
0
3147
100
2270
773
0
2600
812
0
424
-
-
225
7204
10351

9. Trustees’ Expenses

No salary or remuneration is paid or payable directly or indirectly out of the funds of the Trust to any trustee or to any person known to be connected with any of them for the administration of the Trust. Costs paid by Trustees on behalf of the Trust (which does not have a credit card) totalling £5644 (2021: £8229) were reimbursed at cost as follows:

Of these, costs of £589 (2021: £347) were covered by unrestricted funds (companies house filing fee, website fees, stationery and postage), £1111 (2021: £1231) were event ( Service-19 ) costs covered by event/sponsorship and Supporter donation income to unrestricted funds; £288 (2021: £216) were costs covered by Supporter donations; £603 (2021: £43) were event/education costs covered by 80% donations and associated Gift Aid; and £2782 (2021: £6598) of restoration costs and event/education costs associated with loan vehicles were covered by prior donations held in restricted funds. Travel & subsistence costs and event costs incurred by Trustees in support of the charitable activities £271 (2021: £0) were reimbursed at cost and matched by equivalent Trustee donations to the general unrestricted funds of the

Page 37

THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

Trust. Trustee donations to unrestricted funds in the year totalled £976 (2021: £248) (see Note 3) to which £244 Gift Aid was added (2021: £62) in year.

10. Related party transactions

Out of pocket expenses paid to Trustees and donations from Trustees to the restricted and unrestricted funds of the Trust are covered in Notes 9 and 3.

Related party transactions have provided the Trust with cost-effective, convenient and expert services to further its charitable objectives as set out below. The arrangements are scrutinised and subject to approval by independent Trustees each year and the decisions are formally documented. In all cases it was deemed the quality of services could not have been achieved on more favourable terms on the open market. For the purposes of transparency details of the transactions are provided below.

Donation income from profits of Helacol Limited of which Drs Billington and Bolt are the owners and directors is set out in Note 3. Much of the charity’s restoration and public access is at properties owned by Drs Billington and Bolt. No charge is made for the facilities or the time involved. The archive office at Fifield is subject to a formal lease with peppercorn rent. A number of Trust vehicles either owned or on loan are housed in buildings owned by Helacol Limited. The space would otherwise be let commercially to private owners of vehicles at £28 per week (2020: £28), the commercial rent having increased to £29 from 1 January 2022. As such space is in demand, Helacol Ltd must charge for the use of the space/loss of other income but without the directors deriving undue personal benefit. The Trustees have therefore agreed that a favourable rent of £20/week (2020: £20) is charged for storing vehicles owned by, or on loan from unrelated parties to, the Trust with a commensurate increase to £21 from 1 January 2022. During the pandemic the Helacol Ltd landlords offered a reduced rent in light of the Trust’s limited ability to raise funds and further did not charge for the space reserved for 556 when it was away for restoration. The storage costs incurred and sources of Trust income to cover the expenditure in the current year are as follows:

Vehicle
Date storage
commenced
Thames Valley Bristol K
type 446 – Trust owned
19 Oct 2014
Reading VR 38 – Trust
owned from January
2017
1 Jan 2017
Thames Valley Tilling-
Stevens 152 – loan
vehicle until Trust
owned from May 2017
8 Mar 2015
Thames Valley Bristol
LL 556 – loan vehicle
17 July 2015
Thames Valley Bristol
LL 556 – Trust owned
from July 2020
1 July 2020
Total		 2022
£
2021
£
Funding
1049
1040
Restricted fund RF3
962
607
Restricted fund RF4 from 1 Mar 2019
supplemented by unrestricted fund and
income from related educational events
962
607
Restricted fund RF5 supplemented by
unrestricted fund and income from
related educational events
n/a
347
Unrestricted fund – income from related
educational events
422
0
Restricted fund RF7 to be supplemented
by unrestricted fund and income from
related educational events post
restoration
3395
2601

High quality reprographic, finishing and binding machines owned by Helacol Services Limited (a consultancy company of which Drs Billington and Bolt are owners and directors) have been

Page 38

THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

used on site by the Trust to produce Service-19 Newsletters, fundraising leaflets and Supporter correspondence for those without email as well as posters and information packs for crews participating in public events. No charge is made for their time and copies are charged at cost. These services provide flexibility for multiple variants of documents which would be impractical with an external printer particularly during lockdown where Service-19 could be produced even when commercial facilities were closed. In line with HMRC rules, production of publicity material is charged without VAT but general printing is charged with VAT. Total charges of £533 (2021: 303) gross relate to two editions of Service-19 a ‘ final push ’ appeal leaflet for LL556, annual Supporter renewal correspondence and packs for the Royal Blue Run (June 2021) and Kingsbridge events (September 2021).

The specialist mechanical engineering services of Graham Green Commercial Vehicle Engineers have been used by the Trust since inception. He has unrivalled expertise in the design and operation of the early vehicles in the Trust’s care and is able to work at the Trust’s facilities when required without the overhead and transportation issues associated with reliance on other fixed premises. As a respected preservationist and historian he is a Trustee, as of March 2019, but it is essential for the ongoing care of the Trust’s Collection that his services remain available. Trustees scrutinised alternatives but deemed it was in the Trust’s interest to continue the work already underway on Trust vehicles and furthermore no other similar expertise, or commercial terms from third parties could be identified. In the year £7609 was paid to Graham Green Commercial Vehicle Engineers for work on three Trust owned/loan vehicles (2021: £9872) ranging from minor repairs to engine rebuilds and restoration projects as follows:

ows:
Thames Valley Bristol LL 556
Thames Valley Tilling-Stevens 152
Western National FLF 2065
National Omnibus & Transport Co. 2407
Royal Blue LS 1286
Royal Blue Reliance 3615
Source
RF7
RF5
RF1
RF1
RF1
RF1		 £
597
538
417
5004
422
631
7609

In the cases of RF5 and RF7 relating to Trust owned vehicles, a 10% discount was applied by Graham Green in comparison with his standard commercial rates.

11.
Tangible fixed assets
Cost
At 28 February 2021
Additions
At 28 February 2022
Depreciation
At 28 February 2021
Charge for the year
At 28 February 2022
Net book value
At 28 February 2021
At 28 February 2022		 Machinery/
equipment
(Note 12)
£
10456
0
10456
8288
722
9010
2168
1445		 Collection
(Note 13)
£
114977
0
114977
0
0
0
114977
114977		 Total
£
125433
0
125433
8288
722
9010
117145
116422

Page 39

THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

12. Machinery & Equipment fixed assets

Just prior to lockdown in early March 2020, the Trust committed to the purchase of four laptops to deploy between archive groups in Devon and Berkshire with the associated development of an Office 365 cloud-based environment which has been licensed without charge under Microsoft’s not for profit grant scheme. The capital value and in-year depreciation (at 25% per annum) are recognised.

13. Collection fixed assets

Collection fixed assets at the start of the year consisted of a 1946 Thames Valley double deck bus acquired following a public appeal for funding and a group of First World War vintage chassis, body frames and parts for restoration of three vehicles. Small collection items include a hand built model, original Great Western Road Motors brass cap badges and tickets. All items are now on secure display for visitors to the collection. They were purchased using funding from an expendable endowment.

The Trust also owns Southern National Bristol KSW (LTA995) No. 1852, Thames Valley Bristol LL (FMO938) No. 556, Reading VR (NDP38R) No. 38 and the Thames Valley Tilling-Stevens (MO9324) No 152. The valuations have been set at the purchase prices of £1,000 and £5,000 and insurance values of £10,000 and £20,000 respectively in accordance with Policy 1(j) in the notes to these accounts. Restricted funds have been established (RF6, RF7, RF4 and RF5) with associated appeals to secure income towards their ongoing upkeep and preservation.

14. Debtors

Donations committed prior to, but received after, the
year end (general fund)
Donations committed prior to, but received after, the
year end (restricted fund)
Gift Aid eligible but received after the year end (general
fund)
Gift Aid eligible but received after the year end
(restricted fund)
Sponsorship committed prior to, but received after, the
year end (general fund)
reditors: amounts falling due within one year
Creditors (restricted fund)
Creditors (general fund)Note 16
Accruals		 2022
£
854
0
696
3502
0
5052
2022
£
5695
5838
11533		 2021
£
0
0
172
1973
0
2145
2021
£
15885
4331
20216

15. Creditors: amounts falling due within one year

16. Deferred income

Deferred income comprises advance donations from the growing number of registered Supporters where the activity year and associated costs runs from June to May. Income has been deferred and is shown within creditors on a prorata basis (£2453 2021-22 creditor (202021 £2088)) leaving £9184 income in 2021-22 (2020-21: £7872).

Page 40

THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

17. Analysis of charitable fund balances

Fixed assets
Current assets
Current liabilities		 Restricted
Funds 2022
£
84977
200718
(5695)
280000		 Unrestricted
Funds 2022
£
31445
93811
(5838)
119418		 Total Funds
2022
£

116422
294529
(11533)
399418		 Total Funds
2021
£
117144
279168
(20216)
376096

18. Analysis of charitable fund movements

Analysis of movements in unrestricted funds – current and previous year. All unrestricted funds are free reserves within the general fund, there being no designated funds.

Opening Income Expenditure Transfers Funds at
Unrestricted funds balance £ £ £ year end
– General fund £ £
28 February 2021-28 February
2022		 104921 25267 9458 -1313 119418
28 February 2020-28 February
2021		 101191 14007 7016 -3397 104921

Analysis of movements in restricted funds

Restricted fund
RF1 – Donor Dr C J
Billington (West Country
vehicles and Trust
Collection)
RF3 – Thames Valley Bristol
K Type 446
RF4 – Reading Transport
VR 38 #
RF5 - Thames Valley
Tilling-Stevens 152 #
RF6 – Southern National K
type 1852
RF7 – Thames Valley Bristol
LL 556
Total		 Opening
balance
£
28 Feb 2021
Income
£
Expenditure
£
Transfers
£
Funds at
year end
£
28 Feb 2022
234793
53105
42866
0
245031
33016
375
1336
0
32055
0
750
1125
375
0
0
1050
1988
938
0
302
0
57
0
245
3066
32953
33348
0
2670
271175
88233
80720
1313
280000

Page 41

THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

Analysis of movements in restricted funds - previous year

Restricted fund
RF1 – Donor Dr C J
Billington (West Country
vehicles and Trust
Collection)
RF 2 – Donor R D Rampton
(Thames Valley vehicles)
RF3 – Thames Valley Bristol
K Type 446
RF4 – Reading Transport
VR 38 #
RF5 - Thames Valley
Tilling-Stevens 152 #
RF6 – Southern National K
type 1852
RF7 – Thames Valley Bristol
LL 556
Total		 Opening
balance
£
29 Feb 2020
Income
£
Expenditure
£
Transfers
£
Funds at
year end
£
28 Feb 2021
216958
50000
32165
0
234793
5502
0
1932
-3570
0
33168
375
1419
892
33016
(2908)
700
717
2925
0
2003
2775
7035
2257
0
357
0
55
0
302
1250
30461
29538
893
3066
256329
84311
60882
3397
271175

Name of restricted fund Description, nature and purposes of the fund

RF1 – Donor Dr C J Billington (West Country vehicles and Trust Collection)

RF 2

To fund long term access to West Country vehicles from Dr Billington’s collection to further the Trust’s education and preservation objectives and to secure for the Trust’s collection significant heritage objects relevant to the history of bus and coach operations in the Thames Valley and Great Western corridor.

Fund closed

RF3 – Thames Valley Bristol K Type 446

RF4 – Reading Transport VR 38

Established in September 2014 to fund the purchase, maintenance and public access to this iconic Thames Valley vehicle in furtherance of the Trust’s charitable objectives.

38 was donated to the Trust in excellent condition in November 2016 and the fund was established in 2017-18 to contribute to the ongoing maintenance, storage and running costs so the condition is preserved and to ensure 38 can play a full part in public events in the area.

A transfer from unrestricted funds was made to cover expenditure to date not directly covered by donations to the restricted fund.

Page 42

THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

Name of restricted fund Description, nature and purposes of the fund

RF5 – Thames Valley 152 was donated to the Trust in April 2017. The fund was Tilling-Stevens 152 established to enable essential repairs to the gearbox and upgrading of the electrical system to enable safe operation of the vehicle for public education and enjoyment. # A transfer from unrestricted funds was made to cover expenditure not directly covered by donations to the restricted fund.

RF6 – Southern National The fund was established following a successful bid in October Bristol KSW 1852 2017 to acquire 1852 upon disposal by the Haynes Motor Museum, firstly to secure the vehicle and then to establish a restoration project with a significant educational / skills transfer element to redress the damage caused by years of external storage.

RF7 – Thames Valley The fund was set up to hold monies to purchase and restore 556 Bristol LL 556 once an agreement had been reached with the previous owner for the Trust to acquire the vehicle which had previously been on loan. A successful appeal to fund the purchase of the vehicle and its restoration to show condition for the Thames Valley Traction Co. Centenary celebrations was launched in July 2020 enabling the acquisition and progress of a major restoration. A ‘Final Push’ appeal was launched in August 2021 to expand the scope to include the interior restoration building on the initial success.

19. Reconciliation of net movement in funds to net cash flow from operating activities

Net movement in funds
Add back depreciation charge
Deduct interest income shown in investing activities
Decrease (increase) in stock
Decrease (increase) in debtors
Increase (decrease) in creditors
Net cash used in operating activities		 2022
£
2021
£
23323
18576
722
812
(69)
(254)
0
0
(2907)
(767)
(8683)
13631
£ 12386
£ 31998

20. Corporation Taxation

The Trust is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

Page 43