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2023-02-28-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 2023

THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

COMPANY INFORMATION – TRUSTEES, DIRECTORS and PROFESSIONAL ADVISORS Year ended 28 February 2023

Directors / Trustees Dr C J Billington Dr H M Bolt P M Delaney G G Green D T Sheppard P Snowden 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 Flagstone Group Limited (investment platform) Clareville House 26-27 Oxendon Street London SW1Y 4EL 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 2023

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 2023 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. 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.

The Trust’s Articles of Association were formally modified on 13 and 23 November 2022 and approved by Companies House and the Charity Commission. The first changes permit virtual and hybrid meeting formats, if required, and the second provide for proxy representation and voting at meetings.

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 :

An additional vehicle was donated to the Trust on 13 June 2022 by a Trust Supporter. It was accepted on the basis that all its restoration, maintenance and storage costs will be covered under a formal agreement with a benefactor who came forward to sponsor the acquisition.

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)

An additional vehicle was put on loan by the Trust Chairman in October 2022:

The majority of the loan collection vehicles are under active restoration enabling the range of skills involved at various stages to be demonstrated to visitors. Two of these are projects being led by volunteer working groups. Four are on the road and have been used to give passenger rides at a variety of public events and been on display throughout the year.

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 the 1960s (VW203, RU8805, FTA634, JUO992, LTA748, BOD25C, 519BTA). 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 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

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THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

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.

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 34 new Supporters coming on board through the 2022-23 year. This is a significant inflow with many joining at events and/or seeking access to Trust publications like To and fro’ (including back numbers).

Engagement of Trust Supporters as volunteers in vehicle restoration and maintenance working groups is growing, with an expanded cohort and twice-weekly sessions in Berkshire. Similarly the archive working groups are making significant progress.

The archive and small object collections of the Trust are held at locations in Devon and Berkshire, with any duplicate items held at both sites for security and ease of access for researchers. The work to identify, sort and catalogue additions to the archives is undertaken by volunteer teams of supporters. Archive activity in Berkshire was set back at the start of the 2022-23 year because of structural repairs to the archive office (necessitated by damage in storm Eunice on 18 February) precluded on-site work until mid-Summer.

In the year under review, six people took part in the work in Devon, which has met monthly, a total of 273 volunteer hours, whilst in Berkshire there are 10 in the team, who have met three-weekly, a total of 608 hours on site. Not all of the team are able to attend on every occasion, so some volunteers also undertake work off site, amounting to some 900 additional volunteer hours in the year concerned. The supporter teams cover a range of expertise (including a professional librarian) and specialist knowledge which is used to help in the detailed work.

Further donations have been received by the Trust at both locations, whilst work also continues to catalogue some of the larger collections received during the pandemic period. These include photographs, documents (including those that were public issue and those used internally by the originating companies), manufacturer’s service manuals, various journals, newsletters and periodicals, etc), books and artefacts.

The archive collection is also becoming more widely known, and researchers are encouraged to make use of the collections by means of a personal visit or, for those for whom that is not practical, by means of questions to the relevant team. The resources available are also frequently used to assist in preparing the Trust’s publications.

The Trust’s registration on The National Archives ARCHON database (Code 3565) is an important step in raising its profile and accessibility. 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.

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THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

External enquiries have come through for example from a researcher interested in a specific collection he knew 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. Four graphic panels were designed by TV&GWOT giving historical detail and were installed on the bus shelter in January 2023 attracting positive local and national transport industry press coverage.

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 has progressed further and remains a priority in the 2023-24 period.

If the Trust receives material that is surplus to requirements - either because it already holds copies at both sites, or because the items fall outside the Trust’s remit – with the donor’s agreement they can be offered for sale to raise funds towards the purchase of archival quality storage and preservation materials, or where appropriate, other archive items. The team in Devon has a particular expertise in cataloguing, listing and preparing for sale surplus donated models, and during the period under review these raised £947 from sales at the events in Penzance, Didcot. Taunton, Kingsbridge, Victoria Coach Station and Showbus described below.

A full programme of events took place through the 2022 summer season. There were some challenges due to competing events (not just within the transport heritage sector) as many individuals and organisations 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 day events giving public rides , 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 through the year is as follows:

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THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

over 100 and more years as depicted in postcards since the turn of the 19[th] century. It also provided an account of the CBPS restoration of a Bedford YRQ to represent the local Grenville Motors fleet and included an original Modern Cornish Bus Driver’s Song by Gray Lightfoot, an amusing take on Gilbert & Sullivan’s Pirates of Penzance. Bus, rail and other local businesses supported the event with advertising providing encouragement for the renewed viability of these activities. TV&GWOT Trustees and Supporters took eight vehicles from the Trust’s Devon base. Trust Supporters took advantage of the holiday weekend to join TV&GWOT and CBPS on a tour of the West Cornwall peninsula on the former Service 300 route.

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THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

Historic Docks for a mid-day break and the run concluded on Sunday at Fawley Hill near Henley-on-Thames, home to the steam railway and memorabilia accumulated for posterity by the late Sir William McAlpine, courtesy of Lady Judy and the Fawley Hill Railway Society. Many photographers captured the vintage coaching scene along the way, sharing images online via social media amplifying the public engagement.

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THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

over by the military for essential wartime purposes. Remarkably the event proceeded despite the obstacle of a rail strike facing visitors who normally arrive via Warminster station. TV&GWOT was consulted as part of the organisers’ efforts to secure long-distance coach feeder services instead, although not having an Operator’s license meant the Trust could not participate in a commercial service. The Trust was however invited to take Royal Blue LS No. 1286 across the Plain to Imber, a first for a preserved coach, carrying Trust Supporters. This was a fascinating excursion and gave the opportunity for the Trust to have a sales stand while also benefitting from a generous charitable donation from the organisers from this one-off format for the event.

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THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

a sales stand for the indoor market area. The dual focus was to keep the Trust’s profile in the eye of those with allied bus and coach interests while also promoting the VCS90 book

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 in 2022-23 compares with 24,758 in 2019-20; (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 in 2022-23 compares with 262 in 2019-20; and (c) the associated mileage covered – 18,285 miles in 2022-23 compares with 19,731 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 342 sales (£15) of the TV&GWOT VCS90 book, where 250 copies of TV&GWOT’s Reading Motorbus centenary book (£12.95) were sold in 2019-20. Sales of the latter are ongoing including 19 in the 2022-23 year indicating a continuing modest ongoing revenue stream from Trust publications.

While measures through 2022-23 were 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. By the year end, however, the Trustees were confident that the 2022-23 performance gave a sound basis for future growth and evidenced the resurgence in public interest in TV&GWOT activity post-pandemic.

Vehicle restoration work continued throughout the 2022-23 year as described below:

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THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

Ahead of the Trust events and other outings through 2022 and 2023, 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. Necessary remediation was carried out before vehicles were used on passenger service. This was a major task, particularly so since some vehicles were seeing first use since COVID restrictions had limited their use.

Despite the pandemic disruption, the Trust recovered well and continued to be well resourced financially underpinned by its prudent reserves policy through the 2022-23 year. 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 a result, although growth was set back, the Trust did not suffer financial harm from the pandemic constraints. The return to a full programme of activity in 2022-23 as described in this report introduced new ventures such as books and sale of surplus materials being pursued to ensure a broader range of income streams involving a wider range of donors / purchasers.

Generous funding of the Trust by its increasing number of Supporters continued, particularly with 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 completed their term in 2022-23 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 began to plan the

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THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

restoration of 1953 Southern National Bristol KSW6B No. 1852 (LTA995) which the Trust 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 commenced with a view to a appeal and other funding applications in 2024.

The continuation of the revival of support from the major transport companies in the reporting year 2022-23 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 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.

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 2022-23 year the number of Supporters rose substantially from 263 at the start to 293 at the year end. This strong position reflects an almost complete renewal by existing Supporters in May 2022 and a significant 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 which are produced by Supporters, some of them regular correspondents. 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 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. The skills and dedication of Trustee David Sheppard as Editor and Supporter Luke Farley leading design and production are acknowledged with gratitude.

The total published To and fro’ content for the period comprised 172 pages, 23 original articles (2021-22: 32) and 338 images (2021-22: 278). In summary the content covered:

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THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

respectively, show West Country vehicles in Penzance for Easter, Thames Valley on the London to Brighton run in May, and a unique view from behind the wheel of the Trust’s Royal Blue LS on the Royal Blue run in June. Supporter Richard Delahoy recalls new lives for three of Plymouth City Transport’s unloved Leyland Nationals across the country in Essex in the early 1970s. The second part of Trustee Peter Delaney’s articles ‘Expressing it on a poster’ follows designs through to the 1970s linking coach travel and design fashions. On the vehicle side, ‘Norths star’ rebuilds the history and fortunes of a former Western National Bristol SU espied in a scrap yard. Paul Lacey closes with a Stranger in the (Thames Valley) camp, the first of a series on interloping vehicles, this one from Brighton, Hove & District

Back numbers of To and fro’ are sold at modest cost and as ‘taster bundles’ on the Trust’s sales stand at events as well as online via the ‘Shop’ facility on the Trust’s website with some editions now being 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.

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. Detailed discussions proceeded 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). In addition, discussions were held with S & B Automotive Academy regarding heavy vehicle mechanical and electrical engineering apprenticeships.

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THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

Heritage sector links have been maintained, for example with the Heritage Alliance, South West Museum Development, Digital Heritage, Charity Digital etc where training and information about resources and funding are provided through Newsletters and online courses.

The Trust continues to strive to achieve best practices in governance and operations and, to this end, applied in November 2022 to the Heritage Compass business support programme funded by the National Lottery Heritage Fund (NLHF) and the Department for Digital, Culture, Media and Sport (DCMS). The overall programme aim is “to create a better connected, informed and resilient heritage landscape across England”. Skills in business planning, audience development, leadership and change management are delivered via a range of training, mentoring and peer learning. The Trust’s application was successful and Trustees Helen Bolt and David Sheppard were inspired by parallel sessions at the opening Symposium in Coventry on 26 January 2023. With participation fully funded, online access for all Trustees, a grant for audio-visual equipment, and access to experienced professionals from across the heritage, cultural and associated business sectors, this offers a very important opportunity for the Trust to expand its horizons and build resilience over the year ahead. The target outcomes selected in the Trust’s application were: • A developed / re-invigorated audience development plan;

Broadening the Trust’s advisory network and grant opportunities further, the Trust joined the Association of Independent Museums at the end of January 2023. AiM exists to represent, connect and strengthen the UK’s independent museums, galleries and heritage organisations.

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 completed a survey determining archive coverage over of 93 NARTM member websites as part of the LTAN survey activity in the passenger road transport sector. Coverage was extended to design and commercial aspects, educational programmes, social media, affiliation/accreditation etc with the findings presented to TV&GWOT Trustees to help guide best practice.

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). Shortly before the year end, the Trust registered with GoogleAnalytics4 to provide website monitoring data. The baseline will be established through 2023-4.

The Trust’s social media continued to play a significant role in its public-facing communication throughout the period, connecting both with our existing audience base and new audiences who are discovering, consuming and benefitting from our work through socials.

During the period, the Trust’s Facebook page was its primary social media presence. Statistical analysis of content and page performance within the period are prevented by new ‘Meta’ measuring tools, which measure only short-term (90 day max) periods, but by all measures – ‘followers’, ‘reach’ and ‘engagement’ – the page saw further significant growth throughout the period. It remained the market leader in both the Thames Valley and West Country area among those for comparable groups and charitable Trusts by a significant margin.

Significant work on expanding the Trust’s social media offering towards the end of the period, and subsequently, has dramatically increased our reach further still. In January 2023 the Trust launched a private Facebook group for its Supporters. Designed as a forum for sharing collection material as well as operational information, its purpose was to harness enthusiasm, goodwill and activity generated by the Trust’s emergency pandemic-era newsletter Service-19, in a self-sustaining way.

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THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

The title ‘Service 23’ was chosen. It has been warmly received by Supporters, many of whom have embraced Facebook (and IT in general) for the first time in order to take part in the discussions. Since the end of the period, the private page has attracted 122 members, approximately a third of the Supporters group. It will be noted that age profile and other demographics are such that many Supporters are not willing users of digital technology and are unlikely to join. However, the needs of analogue Supporters continued to be met handsomely by the Trust’s flagship magazine, To and fro’ , only available in print, which features regular round-ups of the highlights from the digital discussions.

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.

Opportunities to engage a wider network of individuals and organisations continued to develop throughout 2022-23 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. The chronology of activities covered:

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 cyber-crime 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 Bristol LL6B 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.

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.

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THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

16 July 2022 - 24 people from the Kingston Historical Society visited the Trust’s Devon base for a talk by the Trust Chairman, Colin Billington, 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 and at the recently opened Box Plymouth and South & West Devon Archive. Trust Chairman, Colin Billington, used his Western National Bristol L No. 1218 to transport the town criers and consorts in their finery to and from Plymouth and between venues.

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 passenger shelter now owned by the Trust and reerected 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.

23 September 2022 – Trustee David Sheppard drove a party of GWR Exeter depot managers, their partners and families on their (now) annual vintage bus outing. Around 50 participants enjoyed a free tour of the Exe estuary between Exeter and Exmouth, pausing for refreshments along the way. Given the late-autumn sunshine, open-top traction was provided FOC by Daniel Shears in the form of ex Riverlink Bristol VR “Molly” (WTU 467W).

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 Swindon Works 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.

29 October 2022 – Trustee David Sheppard provided a live commentary for the annual Twyford & District Round Table firework display, one of the largest and best attended in the Thames Valley. His pre-display commentary promoted the Trust's local work and events and was heard

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THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

by around 5,000 visitors. Inspiration for potential future recruitment was drawn from the Round Table volunteers.

6/7 November 2022 – Trustee David Sheppard marked the 60[th] anniversary month of his preserved former West Yorkshire Bristol SUL4A, SMA 5 (811 BWR), by taking it on a trip to the city of its construction. Among the locations visited were the site of the former Bristol Commercial Vehicles Bath Road factory in Brislington and the nearby Chatsworth Road assembly works where SMA 5 was photographed in front of the remaining buildings.

11 November 2022 - Trustee David Sheppard compèred the Stagecoach South West Long Service Awards at Sandy Park Stadium in Exeter, attended by c.500 staff, industry figures and opinion formers. His presentation included an overview of the Trust's work with particular emphasis on the links between the modern day Stagecoach operation and the historical Devon General, Western National and GWR operations.

8 December 2022 – Trustee David Sheppard played a/the starring role at the Colleton School ’s Christmas Fayre, held at his former primary school in Twyford. When out of role, the opportunity was taken to connect with parents and families who well remembered his bus interest and were delighted to hear about the ongoing work of the Trust in the Thames Valley.

12 December 2022 – Trustee David Sheppard resumed his annual role as host of the Thurlestone Christmas Carol Concert in South Devon, including the now famous switching on of the Christmas light in the telephone box. The event was attended by c.100 local people who were informed of the Trust’s activities in Devon.

15 January 2023 – Trustee David Sheppard hosted an informal visit to the Trust’s Devon base for 9-year old transport enthusiast Alfie and his mother, Bryony. Ahead of the site tour, a trip on Service 164 Rail Link between Totnes and Salcombe gave a contemporary context for the historic buses that would be viewed.

20 January 2023 – Trustee David Sheppard visited the home of accomplished bus modeller Nigel Roberts to view his collection and to advise on several new West Country models currently in development, including a Series 2 Bristol SUL coach. Mr Roberts generously exchanged one of his beautifully made Series 1 SUL models for an unbuilt kit, and this has subsequently featured in photographs used by the Trust for publicity of its Kingsbridge Vintage Bus Day.

25 January 2023 – an online presentation was made to the Omnibus Society South Wales & West Branch by Trustee Helen Bolt, based on cine film recorded by the late Mike Stephens during an OS tour in 1973, now in the TV&GWOT archive and recently digitised. The presentation combined extracts from the itinerary with memories interjected by those who recalled detail of the trip and the bus operations observed.

29 January 2023 – Trustee David Sheppard hosted a quiz for the Riley Motor Club at the Padbrook Park Hotel in Cullompton, Devon, where he also displayed his newly restored Austin J40 pedal car. Around 150 attendees enjoyed an after-dinner speech on heritage buses, including promotion of the Trust’s work, followed by a lively music quiz.

In 2022-23, post-pandemic, the Trust was fortunate that many volunteers returned to resume roles in vehicle and archive working parties and in helping to plan and stage public events. 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 2022-23 show 219 individuals helped with Trust activities (205 in 2021-22), contributing 13,000 volunteer hours (2021-22: 10,500) with 148 of these (2021-22; 120) involved in crewing the 91 different vehicles (2021-22: 77) which attended TV&GWOT events. Pre-pandemic comparisons for 2019-20 are 17,300 volunteer hours recorded for 246 individuals but the numbers are affected considerably by the nature of public events undertaken.

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THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

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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 293 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.

ACTIVITY & PUBLIC BENEFIT IN 2023, BEYOND THE 2022-23 REPORTING YEAR END

The strong focus on Trust resilience and sustainability has continued into the 2023-24 reporting year with Trustees David Sheppard and Helen Bolt maximising the opportunities presented by the Heritage Compass programme by participating in full day courses on:

These were complemented by sessions with the Trust’s ‘Critical Friend’ under the programme, Cath Hume CEO of the Arts Marketing Association, and ‘Mentor’, Mel Larsen a marketing consultant and business coach.

In related work, Trustees ran a number of sessions to develop a fresh 5-year strategy for the Trust to inform business planning in 2023-24 for future years. Whilst work in progress at the time of this report, the Trust Vision has been re-articulated to be:

To preserve and treasure our Thames Valley & Great Western bus heritage, connecting people, places and the past,

bringing joy and understanding of where we have been and where we are going today.

Five strategic goals have also been developed for the Trust to:

In October 2023 the Trust also applied for Strategy Support under an extension to the Heritage Compass programme, specifically to guide the audience development plan. This application was again successful and the Trust has gone on to benefit from additional training and expert input to its specific plans, all fully funded by the NLHF / DCMS.

This has been an exciting and stimulating experience with the Trust and Trustees benefitting not just from the direct teaching but from the associated opportunities to network with other heritage and cultural educational charities in different regions, operating at different scales. From early in the programme fresh ideas have been applied to the Trust’s public engagement with considerable success, for example with a broader appeal in social media posts through the summer of 2023 and focused interaction with families at events like Fawley Hill in August 2023, with Trustees actively learning more about visitor interests.

Developing from Heritage Compass contacts, in March 2023 the Trust applied to the AiM Arts Scholars Brighter Day Grant Scheme (Supported by the Arts Scholars Charitable Trust) and

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THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

were awarded £1,650 for a project ‘Art & Design on the Buses’ to develop an online exhibition of the poster artwork produced to advertise bus and coach services over the decades. This brings with it further training, software and consultancy advice to enhance the Trust’s digital design capability.

As part of building Trust capabilities, an application was made to the eBay Charity Connect programme which provides training, on-to-one help, and free provision of a shop, discounts and other facilities for 12 months. This has an equivalent monetary value of several hundred pounds and provides a new platform for the Trust to promote events and educational publications as well as fund raising.

The Supporters’ Group has continued to thrive into the 2023-24 year. Twelve new Supporters had joined beyond the 2022-23 year end at the time of writing. The extent of renewals in June, although over 90%, was not quite as high as in previous years with a number of people citing the cost of living being the dominant factor in them cutting back. A facility to remain on the mailing list was offered and has been taken up by most ensuring a degree of access is maintained. Sadly a number of Supporters have died since the year end. In particular Michael Plunkett who had rescued and restored Thames Valley Tilling-Stevens No. 152 and passed ownership to the Trust in 2017, died in September. His contribution to the Thames Valley heritage will long be remembered. Three further editions of the Supporters’ magazine To and fro’ with a fourth in preparation for issue before the 2023 calendar year end.

Engagement of Trust Supporters as volunteers in vehicle restoration and maintenance working groups continues with twice-weekly sessions in Berkshire and sessions to suit working patterns in Devon.

Archive activity in Berkshire continues with a three-weekly cycle on site and monthly working groups in Devon.

Cataloguing the collection is a principal task for the working groups ensuring the collection is defined and readily accessible. The work applies to donated and accessioned material with surplus donated models again being offered for sale at events. This has generated some £2570 income in the first eight months of the 2023-4 year, contributing to Trust funds for expenditure to improve the archive resources and standards for collection care.

A full programme of events was planned for the summer season beyond the 2022-23 year end. Not everything went to plan due to circumstances beyond the Trust’s control but there were, nevertheless, considerable successes and new opportunities for the public to engage with our rich transport heritage.

The chronology of Trust events and events attended by the Trust since the start of the 202324 year (1 March 2023) until October has been as follows:

The Members’ Spring Meeting consisted of a weekend of activities arranged by the TV&GWOT Chairman, including a NARTM Board meeting held in the TV&GWOT archive work room in Berkshire on 3 March, the Members’ Meeting held at the London Transport Museum’s Acton Depot on 4 March, which included a tour of the collections located within the Depot as well as the meeting itself. There was also a visit to Victoria Coach Station on

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THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

5 March for a “behind the scenes” tour during which the full process from arrival and passenger/luggage unloading, fuelling, running repairs and preparation for the next journey including re-provisioning, lay-over, entry to departure terminal, passenger and luggage loading and departure was followed. The tour included the control room where arrivals and departures are planned and overseen by a large array of CCTV cameras watching all parts of the coach station and surrounding streets. A mass departure of up to 40 coaches occurs every 30 minutes on the hour and half-hour. This NARTM tour was the last event in 12 months’ of celebration of the 90[th] Anniversary of the Grand Opening of VCS on 10 March 1932.

TV&GWOT provided all transport to and from these venues and to hotels and restaurants for delegates over the weekend using Royal Blue Bristol LL No. 1250 and Bristol LS6G No. 1286. A total of 122 passenger journeys was recorded during the weekend.

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THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

passenger journeys based on our 2019 and 2022 Didcot event figures and also the greater advertising and other advanced publicity which had been planned.

A souvenir booklet was produced rapidly using previously researched photographs from the Bus Archive. Extensively illustrated, it charted some 75 years of history from the origins of South Midland in 1921, through the development of Oxford-London express services over the decades and the changing vehicle types covering the route. It highlighted the significance of the prototype Bristol RELH / ECW coach (521ABL) which joined the fleet in May 1963. The story was continued through to the late 1990s into Oxford Tube and Thames Transit eras. The publication was popular on the day and has continued to sell well at events and on-line.

One of the Trust’s Facebook posts with an amusing image combining human, animal and vehicle interest reached an audience of 160,000. A compilation video post-event was viewed by an incredible 17k people. Capitalising on this success online and translating it to further engagement with the Trust is a priority.

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THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

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Chairman’s venerable Royal Blue Bristol LL No. 1250. 30 donors to the Hospice’s funds were transported from the parking area on a nearby office park to the Hospice and back.

Production of the souvenir programme was supported by a wider number of local businesses than in previous years, demonstrating the significance of the event for the community. The content included a feature on Tally Ho Coaches 100 years since its founder first began transporting passengers. 60 years since the Brent-Kingsbridge branch line closed was marked with a short history of the service and the event included trips on the parallel rail-replacement route. The main article gave further illustrations and a detailed narrative describing the history of Kingsbridge Bus Station, complementing the now permanent display panels in the bus shelters.

The John Hobbs Memorial run to Dartmouth on 17[th] September included a visit to the Britannia Royal Naval College for a heritage tour and museum visit enjoyed by 30 Supporters who had volunteered at the event the previous day.

At the start of November 2023 our major events for the year have taken place. Metrics for the 202324 year to date are as follows: (a) passenger journeys for members of the public carried on vintage bus services by Trust vehicles or on vehicles attending Trust events – 13,577 (2022-23 16,927);

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THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

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(b) for the number of (vehicle) days Trust and Trustees’ vehicles participating in TV&GWOT events were on the road on public display - 205 vehicle days in 2023-24 compares with 236 in 2022-23; and (c) the associated mileage covered – 17,725 miles in 2023-24 compares with 18,285 miles in 2022-23. As recorded above, two events (Didcot and Kingsbridge) were affected by adverse external factors beyond our control. Without these two factors we are confident that overall passenger numbers and other metrics would have been back at pre-pandemic levels. With the addition of two additional Trustees in 2022 we plan to further develop our events programme for 2024 to significantly expand our public benefit activities.

Opportunities to engage a wider network of individuals and organisations have proliferated beyond the year end and Trustees have responded recognising the importance of the raised profile and potential financial income to the Trust that such activities bring. In the 2023-24 year to date activities have included:

21 April 2023 – Trust Chairman Colin Billington made an online/Zoom presentation to 25 Members of the Aldershot & District Bus Interest Group . This covered:

19 May 2023 – Trustee David Sheppard hosted the Yorkshire Star awards in Sheffield attended by c.500 bus industry professionals and opinion formers. His presentation at the Mercure St Paul Hotel included an overview of the Trust's work.

20 May 2023 - Trustee David Sheppard hosted the Stagecoach East Midlands long service awards, attended by c.500 staff and opinion formers. His presentation at the Lincolnshire Showground included an overview of the Trust's work.

8 June 2023 – Trustee Helen Bolt attended the Francis Clark annual Legal and Accounting Charity Support seminar in Buckfastleigh taking advantage of expert advice opportunities to validate TV&GWOT’s approach to accounting software, independent examination, investment of reserves, VAT registration etc while also benefiting from networking with other charity finance and governance teams.

10 June 2023 – Trustee David Sheppard joined Supporter Luke Farley in a trip to Winkleigh Airfield Car Show with his former Western National Mercedes 811 Minibus No. 357 (L357 VCV), where the Trust’s activity was promoted. Meal break relief was provided on the site shuttle bus, operated using a former Southern Vectis Bristol VR.

24 June 2023 - Trustee David Sheppard compèred the Stagecoach North East Long Service Awards in Newcastle, attended by c.500 staff, industry figures and opinion formers. His presentation at the Hilton in Gateshead included an overview of the Trust's work.

17 July 2023 - Trust Chairman Colin Billington made an online/Zoom presentation to 27 Members of the Chartered Institute of Logistics and Transport (CILT). This covered: • The Thames Valley & Great Western Omnibus Trust - custodians of GWR Guy FBB No. 1268, the only preserved GWR Road Motor

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THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

The talk prompted lively discussion amongst the industry professionals on current public transport policy. A write-up has been included in the CILT magazine.

2 September 2023 – Trustee David Sheppard compèred the Stagecoach East Celebrations in Cambridge, attended by c.200 staff, industry figures and opinion formers. His presentation at The Belfry included an overview of the Trust's work.

10 September 2023 – Trustees Colin Billington and Helen Bolt attended the Devon General Remembered event in Newton Abbot to meet volunteers and distribute advertising leaflets to promote the TV&GWOT Kingsbridge Bus Day the following weekend.

15 September 2023 – Trustee David Sheppard compèred the Stagecoach London Awards at the London Transport Museum in Covent Garden, attended by c.500 staff, industry figures and opinion formers.

7 October 2023 - Trustee David Sheppard compèred the Stagecoach South Awards in Portsmouth, working with former First Western National Managing Director Marc Reddy, now in his new post as MD of the UK’s Bus Operator of the Year, Stagecoach South.

14 October 2023 – An online/Zoom presentation to the Friends of King Alfred Buses by Trust Chairman Colin Billington covering:

28 October 2023 – Trust Chairman and National Association of Road Transport Museum (NARTM) Deputy Chairman, Colin Billington attended the Association’s AGM at Kirkby which was hosted by a group with a focus on predominantly modern vehicles giving important insight to the commitment of younger enthusiasts. Important topics included the availability of insurance for heritage vehicles.

In the months beyond the 2022-23 period end vehicle restoration work has continued:

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THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

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Ahead of Trust events and other outings, all participating vehicles are required to have MoTs or documented roadworthiness inspections (as appropriate to their age / taxation class). This applied equally to Trust loan vehicles and Trustee-owned vehicles made available for use as well as third party owned vehicles. Commercial inspection services and those of suitably qualified Supporters, particularly Trustee Graham Green, were deployed with defects and any resulting rectification required being recorded. Necessary remediation was carried out before vehicles were used in passenger service.

The former Thames Valley Waiting Room and Passenger Shelter was treated to a complete exterior repaint to retain its smart appearance as a meeting room for group visits to the Trust’s Berkshire site while also ensuring the timber structure and cladding are fully weather protected.

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THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

The Trust’s online activity has had increasing focus beyond the 2022-23 year end. Google Analytics data has confirming the vital role the website plays in the run up to events in terms of publicity, advance programme sales, providing event details. Ensuring clear and succinct web communication is the focus for the 2024 events programme.

The Trust’s social media activity has also continued to develop beyond the reporting period. The Trust’s Facebook following has grown to 2,898 (+12% year on year), though engagement has grown significantly following the implementation of a ‘family focus’ in posts reflecting insight from our Heritage Compass training. As noted above, Royal Blue Run coverage resulted in the Trust’s most-viewed social media post of all-time, depicting Trustee Mel Williams holding a Cornish pasty in front of a coach with a seagull on its roof, which reached more than 76k users and received almost 1500 reactions. The themes of local identity, characters and comedy were identified as key. The increased audience stayed to view content across the weekend, and videos of the coaches were watched more than 17k times.

Trust launched its Twitter (now X) presence as a tool for business (and particularly archive) networking and also to communicate information. This was launched ahead of our 2023 Royal Blue Run and offered operational updates throughout (such as route diversions and timing guidance) which complemented our more creative offerings on Facebook. A modest following of 78 has been achieved, but the use of X is likely to accelerate as the Trust implements its new audience plans in 2024. Individual Trustees have also been making more extensive use of LinkedIn for Trust networking purposes.

It will be noted that, 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 sizable audience primarily as a means of enhancing access to our collections and therefore public benefit.

RISKS

The Trustees of The Thames Valley & Great Western Omnibus Trust are fully aware of and implement policies to address any/all 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 growing inflation and rising interest rates in the 2022-23 year, Trustees 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 Authority 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. At the end of the

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THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

period, the Trust/Trustees went through a due diligence process to move reserves to Flagstone Group, a cash deposit platform providing seamless access to a large number of banks/products with competitive interest rate returns. The Trust’s investment policy ensures there is no exposure to equity risks or poorly rated banks, while significantly reducing the risk of reserves being eroded by poor returns.

Non-financial risks related to health and safety are under constant review. 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 such as those offering free passenger rides follow best practice guidelines such as those issued by the National Association of Road Transport Museums. It is recognised that safe and professional conduct of such events is also critical to managing reputational risk and measures are therefore addressed in earnest. Although the Trust does not expressly deal with children or vulnerable adults directly, safeguarding is addressed as a priority with focus increasing as the scope and audience for Trust educational activities are broadened.

The principal risk identified by the Trustees for ensuring the level of activity for public benefit is sustainable remains the potential for some Trustees to become over-burdened. Spreading the workload more widely is a continuing priority and more achievable with the expansion of the Board to seven Trustees at the end of the previous reporting year (2021-22). Recruiting additional Trustees to bring specific skill sets and oversee initiatives related to their expertise remains a priority. The Supporters group was established expressly to provide a pool of volunteers willing to help in a variety of ways. There has been considerable success with help at events and with regular working groups established at both Devon and Berkshire bases to work on archives and on vehicles. Team Leaders are being identified to take responsibility for organising the Trust’s work in specific areas which is a deliberate policy to manage risks and over-dependence on individual Trustees. Direct approaches to Supporters to help in specific (administrative) areas are also being made to broaden the available expertise and remove the risks of dependence on individuals. Allied to this are measures to expand and diversify the Supporter base, particularly identifying where younger people feel they have a role, in order to ensure the extent and vigour of Trust activity is sustainable.

The Covid pandemic, war in Ukraine (particularly affecting fuel prices), increasing restrictions on diesel vehicles for environmental reasons, cuts to culture funding, the cost of living crisis, and digital developments (e.g. cyber security and artificial intelligence) are all examples of unforeseen threats and impacts which together represent external risks for the Trust’s future operations. While their emergence cannot be controlled measures to protect the Trust and mitigate the consequences can, and the Trust’s new Strategy developing at and beyond the 2022-23 year end includes a goal to be proactive in understanding risks, influencing debate, and anticipating controls.

Most risks whether directly or indirectly have a financial consequence. It is therefore essential that the reserves policy provides adequate cover. The policy, together with Trustee actions, protect the Trust and the level of necessary reserves has been set accordingly. The complement to this is to ensure Trust income can be maintained and an explicit priority in the strategy emerging at the 202223 year end is to extend and diversify the Trust’s fund-raising and income generation activities.

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THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

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: the public benefit requirement (PB1)’, ‘Public benefit: running a charity (PB2)’ and in preparing this report ‘Public benefit: reporting (PB3)’. Due consideration has been given to both ‘benefit’ and ‘public’ aspects.

The Trust provides diverse opportunities in-person, at home and online for a wide range of people to benefit from the educational insights to the Thames Valley & Great Western road transport heritage that underpins so much of passenger transport today. Through our risk management controls, potential harm (e.g. to persons or the environment) is minimised such that the benefits clearly outweigh any potential for resulting detriment.

There are no restrictions on who can benefit from the Trust’s activities and the different formats through which educational insights and experiences are offered ensure widespread public access. The Trust’s activities do not give rise to personal benefit to any party, including to Trustees none of whom receive remuneration in that capacity. Where services are provided by related parties as permitted by the Trust’s governing documents, independent Trustee decision making is transparent, regularly reviewed in the Trust’s interests, and fully reported in notes to the statutory accounts.

The Trustees have reviewed the objects, goals, services and objectives of the Trust in this light and can confirm that, as set out in this report, The Thames Valley & Great Western Omnibus Trust continues to deliver public benefit in compliance with Charity Commission guidance.

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 G G Green D T Sheppard P Snowden M J Williams

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THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

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 and 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 without charge.

Investment policy

The Trustees have adopted a cautious policy on investment, and available funds (restricted and unrestricted) have historically been held in an interest-bearing account with Lloyds Bank plc. The investment policy and security of reserves is under regular review by Trustees and a proportion of the reserves were placed on a 30-day money market deposit via Lloyds Bank to secure a better rate of interest in May 2018. Alongside this an automatic sweep between instant access current and deposit accounts maintained free cash liquidity for the remaining funds while maximising deposit interest. The sweep facility was removed by Lloyds for all account holders in 2021. Due to wider economic circumstances in that period deposit rates were depressed but that same uncertainty undermined confidence in other financial instruments, so alternatives were not pursued.

Into the 2022-23 reporting year, inflation driven by international and domestic factors, has not been matched in the interest rates of return offered by the high street banks and, in consultation with professional financial advisers, the Trustees have pursued alternative platforms providing access to better interest-bearing accounts which still offer the security and flexibility required for the Trust reserves. Funds adopted on the Flagstone Group Ltd platform are restricted to those offering FSCS protection and no account has more than the guaranteed £85,000 amount invested. The distribution across instant access, notice and fixed term accounts reflects the pattern of expenditure in previous years, coupled with risks no greater than judged by Fitch A or BBB credit ratings.

Reserves policy and going concern

The cumulative current reserve funds at the end of the 2022-23 period are £192,283 (2021-22: £195,023) in the Restricted Funds and £106,906 (2021-22: £87,973) Unrestricted Funds. The Trust’s policy had been to hold unrestricted reserves to a level: (a) sufficient to cover risks outside the Trust’s control (e.g. inclement weather) associated with the major events carried out by the Trust within the year; (b) to provide for the development and expansion of the Trust’s educational and training activities; (c) to build up reserves to provide match funding as required by grant making bodies for future projects; and (d) sufficient to cover standing Trust costs (insurance) including for Trust-owned vehicles (e.g. storage, routine maintenance) if benefactor funding ceased. Previous vehicle acquisitions (e.g. Southern National Bristol KSW 1852) and future potential underline the need for significant reserves to be held to address (c) in particular. The Trustees had therefore considered that the appropriate level of reserves should be at least £50,000 when major projects are in the offing particularly in view of high levels of current inflation. The prudence of this policy has been confirmed with the Covid pandemic when restrictions on activity from March 2020 meant that all the Trust’s public events and gatherings (the principal mechanism for delivering public benefit and raising funds) for the 2020-21 financial year had to be cancelled and were only slowly restarted in 2021-22 finally recovering through 2022-23. The reserve funds mean the Trust is able to cover its standing support costs and develop new ways to engage the public and generate fresh revenue streams whilst also progressing the Trust’s objects with advance funding held in restricted funds for this purpose.

In view of the ongoing uncertainty about Covid and the potential emergence of other similar pandemics, as well as the impact on the economy and uncertainty over future charitable giving and leisure practices for the general public with the cost of living crisis, plus inflation impacting future costs, the Trustees now consider reserves of at least £80,000 should be maintained and built on

Page 30

THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST IA Company Limited by Guarantee} where possible for the foreseeable future. The policy will continue to be reviewed annually with a view to reducing the reserve level once funding risks reduce and reserves are committed to projects with public benefit. Five of Ihe seven restricted funds have zero or positive balan￿S at the year end. In the case of RF1.0 for work on loan vehicles, the positive balance is supported by formal commitments from benefactors to provide financial support sufficient to cover all oulgoings on restoration projects and associated educalionallevent acts'vity. The purpose for RF2 has expired and the fund closed with zero balance. Funds RF3 to RF7 relate to Trusl-owned vehicles. The policy is to secure donations to fund the ongoing care and maintenance of these important vehicles but where Ihere is a shortfall beyond the asset value for this to be funded by a transfer from general unrestricted funds. RF3 ring-fen￿$ funding for Thames Valley No. 446. The fvnd has a posltive balance bul reserves were depleted in the 2022-23 year to fund essential structural repairs to make it safe for Continued use for public benefit. Remaining reseNes and anticipated income will nol cover Ihe full standing costs for the coming year and a contribution from general unreslri¢ted funds will be required. In the cases of RF4 (Reading VR No. 38}, RF5 (Thames Valley No. 1521 and RF7 (Thames Valley No. 5561 shortfalls in direct funding lo the reslricled funds have been offset in 2022-23 by such contributions from general unrestricted funds. RF6 (Southern National No. 1852} has a small negative cash balance bul has a nolional fixed asset value of £1,000 (reflecting ils purchase pri¢e). RF7, relating to Thames Valley No. 556, has a negative cash balance but again equivalent to its IconseNalive) capital valuation based on purchase price (£5,000} and funding pledges to cover the restoration costs beyond the year end, more than offset the shorttall. These fund movemenls are refle¢ted in the out-turn figures slated al the start of this section. The policy on expenditure is not to commit lo any item of expenditure unless income is guaranteed or can be covered by existing reserves taking due account of risks and uncertainties involved. The Trustees have reviewed the circumstances of the Thames Valley & Great Western Omnibus Trust and consider that adequate resources continue to be available lo fund the activities of the Trust for the foreseeable future. The Trustees are of the firm view thal the Trust is a going concern. This report was approved by the board on 25 NovembeT 2023 and signed on its behalf. Dr C J Billington Director Page 31

THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST {A Company Limited by Guarantee) Statement of Trustees, Responsibilities in relation to the financial statements The Trust Trustees (who are also direclors of The Thames Valley and Great Western Omnibus Trust company for the purposes of company law) are responsible for preparing Ihe Trustees, Report and the financial statements in accordance with applicable law and UK Accounting Standards {United Kingdom Generally Accepted A¢¢ounling Practice). Company law requires the Trust Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming reSoUr￿S and application of resources, including the income and expendilure, of the Trust for that period. In preparing those financial statements, the truslees are required lo.. 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., state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial slatemenls., and prepare the financial slatements on the going concern basis unless it is inappropriate to presume that the Trust will continue its operations. The Trustees are responsible for keeping proper accounting records which disclose Wlth reasonable accuracy at any time the financial position of the Trust and to enable them lo ensure that the financial slatemenls ¢omply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable sleps for the pFevention and detection of fraud or other irregLJlarities. The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on Ihe charitable Company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation In other jurisdictions. Statement as to disclosure In so far as the Trustees are aware al Ihe time of approving our Truslees, annual report.. There is no relevant information, being information needed by the Independent Examiner in connection with preparing the report of which the Independent Examiner is unaware, and The Trustees, having made enquiries of fellow directors. have each taken all steps that helshe is obliged lo lake as a director in order to make themselves aware of any information relevant to the independent examination and to establish that the independent examiner is aware of that information. Preparatlon of the Financial Statements This report has been prepared in accordance with SORP (FRS 1021 (effective 1 January 2015) and the special provisions of Part 15 of Ihe Companies Act 2006 relating to small companies. By Order of the B rd lin J Billi ton rector 25 November 2023 Page 32

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 2023

Income:
Donations & legaciesNote 3
Income from investmentsNote 4
-Bank interest received
Income from charitable activities:Note 5
-Sponsorship of education/events
-Income from education/events
Income from other trading activities
Other income
-Gift AidNote 6
Total Income
Expenditure on:
Cost of raising funds
Expenditure on charitable activitiesNote7
Other expenditure
Total Expenditure
Net income/(expenditure)
Transfers between funds
Other recognised gains /(losses)
Gains/(losses) on reconciliation of fixed
assets
Net movement in funds
Reconciliation of funds
Total funds brought forward
(at 28 February 2022)
Total funds carried forward
(28 February 2023)		 Restricted
Funds
2023
£
65720
0
0
0
0
1215
66935
0
75381
0
75381
(8446)
5706
0
(2741)
280000
277260		 Un-
restricted
Funds
2023
£
20018
1375
4170
17269
0
3920
46751
0
21586
0
21586
25165
(5706)
0
19460
119418
138878		 Total
Funds
2023
£
85738
1375
4170
17269
0
5135
113686
0
96967
0
96967
16719
0
0
16719
399418
416138		 Total
Funds
2022
£
99136
69
1970
3875
0
8450
113500
0
90177
0
90177
23323
0
0
23323
376096
399418

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

All income and expenditure derive from continuing activities.

Page 34

THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST IA Company Limited by Guarantee) BALANCE SHEET As at 28 February 2023 2023 2022 Flxed assets Tangible assets Nole11 116949 116422 Current assets Stock Debtors Noto 14 Cash at Bank and in hand 2708 316513 319220 5052 289479 294531 Liabilities Creditors falling due within one year Net current assets Note15 120031) 299190 (11533) 282998 Total assets less current liabilities 416139 399420 The net funds of the Trust: Notes 17 & 18 Reslricled - current Reslricled - fixed Unrestricted - current Unrestricted - fixed 192283 84977 106906 31972 416138 195023 84977 87973 31445 399418 For Ihe financial year in question the company was entitled to exemption under Section 477 of the Companies Act 2006 relating lo small companies. In preparing these financial slatements.. no members have required the company to obtain an audit ol its ac¢ounls for the year in question in accordance with section 476 Companies Act 2006, and the directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. The accounts have been prepared for reporting in accordance with the micro-entily provisions and delivered in accordance with the provisions applicable to companies subjectto the small companies regime These financial slalements were approved and signed on the company's behalf. Dr Colln J Billington TrusteelDirector Page 35

THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

STATEMENT OF CASH FLOWS For year ending 28 February 2023

TATEMENT OF CASH FLOWS
or year ending 28 February 2023
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		 2023
£
27221
1375
(1562)
(187)
0
27034
289479		 2022
£
12386
69
0
69
0
12455
277024
£ 316513 £ 289479

Page 36

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 2023

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 37

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:


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 £20018 to unrestricted funds (2022: £16348) and £65720 (2022: £82788) to restricted funds. Of the restricted fund donations:

Page 38

THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

Trustees’ donations contributed £2235 (2022: £976) 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 amounts donated to unrestricted funds by each Trustee in the period (before Gift Aid was added) were as follows (2021-22: £976):

by each Trustee
:		 in the per
Dr C J Billington
Dr H M Bolt
P M Delaney
G G Green
D T Sheppard
P Snowden
MJ Williams		 £
1005
1118
26
30
0
30
26
2235

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 £9977 (2022: £9184) to the unrestricted funds in the period with a further £2548 (2021-22: £2453) carried forward to 2022-23.

Other ad hoc donations to unrestricted funds in the year total £10041 (2021-22: £7164) net of £261 electronic payment charges (2021-2022: £152).

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.

4. Investment income

The Trust’s investment income of £1375 (2022: £69) arises in part from money held in an instant access interest bearing deposit account and a longer term deposit account set up in May 2018 directly with Lloyds Bank plc to improve the level of investment return but through 2022-23 returns failed to keep up with increasing interest rates. The Trust therefore applied in late 2022 to the Flagstone Group Ltd which enables agile investment with FSCS protected banks for

Page 39

THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

instant access, notice and fixed term products offering significantly higher interest rate returns. The Trust’s application for a charity account with Flagstone was approved in early 2023. The Lloyds deposit account was closed on 3 January 2023 and £250,000 was transferred to the Flagstone platform and continues to generate significantly better net returns than offered by high street banks..

5. Income from charitable activities

The income from charitable activities to the unrestricted funds is £21439 (2021-22: £5845). The increment is a direct result of being able to run a full programmes of public events postpandemic in particular the 90[th] anniversary events at VCS for which a commemorative book was published by the Trust generating £5502 income and the Kingsbridge vintage bus day which brought in £6138.

6. Gift Aid

Gift Aid is claimed on donations from tax payers where appropriate. Gift Aid receipts are accounted for in the financial year to which the donations relate. Gift Aid contributions for the period total £5135 (2021-22: £8450), with £1215 added to restricted funds (2021-22: £5445) where taxpayer donations have been made in relation to a specific restricted fund activity or appeal, and £3920 to unrestricted funds (2021-22: £3005).

7. Charitable Activities

Expenditure on charitable activities was £96967 (2021-22: £90177) of which £21586 was from unrestricted (2021-22: £9457) and £75381 from restricted funds (2021-22: £80720). The changes reflect the return to a full programme of public events in 2022-23 and an intensive restoration project on Trust-owned Thames Valley bus No. 556 in 2021-22.

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 2023
£
70894
4487
75381		 Unrestricted
Funds 2023
£
0
21586
21586		 Total Funds
2023
£

70894
26073
96967		 Total Funds
2022
£
64559
25618
90177

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 £8721 (2021-22: £5720) are apportioned in full to the principal charitable activity of education and events. Support costs covered by restricted funds of £6217 (2021-22: £6618) under the loan agreements are allocated to the charitable activity associated with restoration and preservation.

Page 40

THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

Governance costs
Accountancy
Bank charges
Travel & subsistence for
trustee & business meetings
Insurance (liability)
Professional fees
Co Hse filing fee / charges
Subscriptions (NARTM/AiM)
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 (inc p&p)
Total Other support:*		 Restricted
Funds 2023
£
0
0
0
0
0
0
0
0
0
0
924
0
4368
0
0
0
0
925
0
6217
6217		 Unrestricted
Funds 2023
£
0
507
247
1731
0
13
80
2578
115
3489
0
0
0
1035
0
405
0
0
1099
6143
8721		 Total Funds
2023
£

0
507
247
1731

0
13
80
2578
115
3489
924
0
4368
1035
0
405
0
925
1099
12360
14938		 Total Funds
2022
£
0
0
0
153
0
13
25
1570
86
3101
804
0
3395
722
0
0
1268
1153
241
10769
12339

Notes:

* Bank charges include a one-off Flagstone set-up fee for Trustee due diligence. The full cost has been taken in the set up year 2022-23.

** The lower rent and rates in 2021-22 are because the landlord applied a rent reduction in view of the pandemic limiting the Trust’s income generating activities – see also Note 10.

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 £13119 (2021-22: £5644) were reimbursed at cost.

Of these, costs of £1656 (2021-22: £589) were covered by unrestricted funds (companies house filing fee, website fees, stationery and postage), £1618 (2021-22: £1111) were event costs covered by specific Supporter donation income to unrestricted funds; £353 (2021-22: £288) were costs covered by Supporter donations (software licenses for event publications);

Page 41

THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

£1992 (2021-22: £603) were event/education costs covered by 80% donations and associated Gift Aid; and £7136 (2021-22: £2782) 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 £364 (2021-22: £271) were reimbursed at cost and matched by equivalent Trustee donations to the general unrestricted funds of the Trust. Trustee donations to unrestricted funds in the year totalled £2235 (2021-22: £976) (see Note 3) to which £559 Gift Aid was added (2021-22: £244) 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 £29 per week from 1 January 2022 (previously in 2021-2022: £28). 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 £21/week (2021-22: £20) is charged for storing vehicles owned by, or on loan from unrelated parties to, the Trust. During the pandemic the Helacol Ltd landlords levied 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 – Trust owned
from July 2020
1 July 2020
Total		 2023
£
2022
£
Funding
1092
1049
Restricted fund RF3
1092
962
Restricted fund RF4 from 1 Mar 2019
supplemented by unrestricted fund and
income from related educational events
1092
962
Restricted fund RF5 supplemented by
unrestricted fund and income from
related educational events
1092
422
Restricted fund RF7 to be supplemented
by unrestricted fund and income from
related educational events post
restoration
4368
3395

Page 42

THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

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 used on site by the Trust to produce 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. In line with HMRC rules, production of publicity material is charged without VAT but general printing is charged with VAT. Total charges of £237 (2021-22: £533) relate to annual Supporter renewal correspondence, crew packs and publicity posters for public events (Didcot, Royal Blue Run, Thames Valley 100 and Kingsbridge).

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 £4336 was paid to Graham Green Commercial Vehicle Engineers for work on Trust owned/loan vehicles (2021-22: £7609) ranging from minor repairs, and roadworthiness inspections to engine rebuilds and restoration projects as follows:


e rebuilds and restoration projects as follows:
Western National FS 1967
National Omnibus & Transport Co. 2407
Royal Blue OB 1409
Royal Blue Reliance 3615
Multi vehicle supplies
Thames Valley Bristol K 446
Thames Valley Tilling-Stevens 152
Thames Valley Bristol LL 556
Source***
RF1
RF1
RF1
RF1
RF1
RF3
RF5
RF7		 £
2243
365
35
217
44
265
863
304
4336

*** In the cases of RF3, 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

Tangible fixed assets
Cost
At 28 February 2022
Additions
At 28 February 2023
Depreciation
At 28 February 2022
Charge for the year
At 28 February 2023
Net book value
At 28 February 2022
At 28 February 2023		 Machinery/
equipment
(Note 12)
£
10456
1562
12018
9010
723
10045
1445
1973		 Collection
(Note 13)
£
114977
0
114977
0
0
0
114977
114977		 Total
£
125433
1562
126995
9010
723
10045
116422
116950

Page 43

THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

12. Machinery & Equipment fixed assets

A battery pack was purchased for Trust as vital use on vehicles (on site and at events) to supplement personally-owned equipment borrowed frequently by the Trust. Depreciation at 25% is applied recognising time limited battery recharge life

13. Collection fixed assets

Collection fixed assets (large objects – vehicles) 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. The collection also includes Southern National Bristol KSW (LTA995) No. 1852, Thames Valley Bristol LL (FMO938) No. 556, Reading VR (NDP38R) No. 38, Thames Valley Tilling-Stevens (MO9324) No 152 and Royal Blue Bristol (LTA893) No. 1264. Exeter Corporation (Western National) Guy Arab (974AFJ) No. 274 was acquired during the 2022-23 year. 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 valuations have been set at the purchase prices or insurance values in the case of donation items in accordance with Policy 1(j) in the notes to these accounts. Restricted funds have been established to ring-fence donations to specific collection items and to clarify related expenditure on their restoration and ongoing upkeep and preservation. During the period Exeter Guy (974AFJ) Western National No. 274 was offered to the Trust by a Supporter. The donation was accepted on the basis that a benefactor undertook to cover the required restoration and future overhead and running costs (covered under RF1.0).

14. Debtors

ebtors
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)
Public event income committed prior to, but received
after, the year end (general fund)		 2023
£
1489
0
427
50
742
2708		 2022
£
854
0
696
3502
0
5052

15. Creditors: amounts falling due within one year

Creditors (restricted fund)
Creditors (general fund)Note 16
Accruals		 2023
£
13579
6452
20031		 2022
£
5695
5838
11533

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

Page 44

THE THAMES VALLEY AND GREAT WESTERN OMNIBUS TRUST

(A Company Limited by Guarantee)

been deferred and is shown within creditors on a prorata basis (£2548 2022-23 creditor (202122: £2453)) leaving £9977 income in 2022-23 (2021-22: £9154).

17. Analysis of charitable fund balances

Fixed assets
Current assets
Current liabilities		 Restricted
Funds 2023
£
84977
205863
(13579)
277261		 Unrestricted
Funds 2023
£
31972
113357
(6452)
138877		 Total Funds
2023
£

116949
319220
(20031)
416138		 Total Funds
2022
£
116422
294529
(11533)
399418

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 2022-28 February
2023		 119418 46751 21586 -5706 138877
28 February 2020-21 February
2022		 104921 25267 9458 -1313 119418

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 2022
Income
£
Expenditure
£
Transfers
£
#
Funds at
year end
£
28 Feb 2023
245031
55450
49212
0
251269
32055
375
6913
0
25517
0
932
1391
459
0
0
769
4460
3691
0
245
287
57
0
475
2670
9122
13348
1556
0
280000
66935
75381
5706
277260

Page 45

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)
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

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.

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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 Tilling-Stevens 152

152 was donated to the Trust in April 2017. The fund was 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. 556 joined the operational fleet in 2022 incurring event / running and maintenance costs.

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

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		 2023
£
2022
£
16719
23323
1035
722
(1375)
(69)
0
0
2344
(2907)
8498
(8683)
£ 27221
£ 12386

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.

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