Charlty Registratlon No. 1134602 Company Reglstratlon No. 03322838 (England and Wales) BARROW TRANSPORT MUSEUM TRUST LIMITED TRUSTEES, REPORT AND UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024
BARROW TRANSPORT MUSEUM TRUST LIMITED LEGALAND ADMINISTRATIVE INFORMATION Trustees Mr S P Killip Mr P Craig Mr J Hambler Ms S Morrall Secretary Mr S P Killip Charlty number 1134602 Company number 03322838 Reglstered offlce 66 Holker Street Barrow-in-Fumess LA14 5RW Ind8pend8nt examlner Melville & Co Unit 17-18, Trinity Enterprise Centre Fumess Business Park Ironworks Road Barrow-in-Fumess LA14 2PN
BARROW TRANSPORT MUSEUM TRUST LIMITED CONTENTS Page Trustees. report Independent examiners, report Statement of financial activlties Balance sheet Notes to the accounts
BARROW TRANSPORT MUSEUM TRUST LIMITED TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their report and accounts for the year ended 31 Mah 2024. The accounts have been prepared in accordance wth the accounting policies set out in note 1 to ttE accounts and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and the Statement of Recommended PractlC8. "Accounting and Reporting by Charities" issued in March 2005. Structure. governanc8 and management The charity is a company limited by guarantee, not having share capital and is govemed by a Memorandum and Articles of Association dated 24 February 1997. It's company registered number is 03322838. On 2 March 2010 the company became a registered charity with a Charity number 1134602. The trustees, who are also the directors for the purpose of company law, and who served during the year were: Mr D Caton (Resigned 11 December 2023) Mr S P Killip Mr P Craig Mr J Hambler Ms S Morrall The Board consists of people with considerable Interest and experience in the area of transport history. who are able to draw on thelr past experience in appropriate fields. None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up. The Board of Trustees (directors) is the responsible body of the organisation and meets regularfy throughout the year deciding on strategies and exercising management and strategic oversight of the charity. There are no related parties of the charity. The trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. Objectlves and actlvltles The charity's objects are to educate the public by establishing wthin the Barrow, Fumess and Cartmel areas ot Cumbria one or more operational or static museums of transport history and archaeology covering all aspects of road transport. In planning and carrying out the charity's activities the Board are always aware that such activities must be for the public benefit. As such the Board confimi that they have had due regard to the Charity Commission's published guidance on the 'public benefit, motive. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. The activities of the company, as in previous years, continue during the period 2023124 to be Conrned with the preservation, restoration and use of historic public service vehicles, with the eventual aim of establishing a pemianent museum illustrating the history of public transport within the Morecambe Bay area as a whole, and Barrow in Furness in particular. The company continues to rent a warehouse on the Sowerby Woods Industrial Estate at the premises of H Wicks (Lindal) Ltd, which is large enough to house all of the collection and spares under one roof. The company continues to have a good working relationship with Mr David Wicks.
BARROW TRANSPORT MUSEUM TRUST LIMITED TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 A¢hlevem8nts and perfonnanco Working groups at our garage continue and a core group of members meet on a regular basis to work on the vehicles. Several vehicles have received attention this year, some have had routine maintenance and others are long term projects. The group ran trips to events throughout the North West and further afield, some being regular events but there were one or two new events which were well attended. The main vehicles used this year were the Volvo B10, PD2 169 and Mercedes Mini-bus. We were Involved with the organization of the Barrow Transport Festival where we provided vehicles for trips and also static display. This event, as on previous occasions, was a big success and we hope to use our contacts amongst other bus groups and owners to build on this in future years. We also ran the trips for the tall ships festival and the park and ride for the RNLI Lifeboat Gala. Unfortunately, several of our vehicles have suffered from mechanlcal issues thls year, which has left us with a limited pool of vehicles to take out to events. The Leyland PD2 169 has developed an engine water leak which has limited its use to very local events whilst a replacement engine is sought. The restoration of the Seadog continues with replacement engine being rebuilt and the upstairs seats are due to be reupholstered soon. Parts are being sourced for the Leyland Tiger and hopefully it will be able to return to the road soon as it proves to be a comfortable and relatively speedy vehicle for the longer trips. The Group would like to acknowledge the support given by Andy Camp from North Western Motor servIs whose mechanical and technical expertise has continued to help the group thls year. The Barrow Transport Museum Trust Ltd continues to run a fund raising scheme based around the bonus ball number drawn every Saturday in the National lottery. Flfty nine numbers are allocated, each one costing £2, raising a possible £118 per week, the winning member receives £50 and the remaining £68 goes to Trust funds. Initially 53 of the 59 numbers were taken, hopefully all the remaining numbers will soon be allocat1. This scheme has remained popular and a steady income for the group. As in previous years, the trust continues to work closely with local operator Stagecoach, Cumbria Classic Coaches, k(r Coaches and other preservation groups including the Workington Transport Heritage Trust, Ribble Vehicle Preservation Trust, Merseyside Transport Trust and the North West Vehicle Restoration Trust. The company looks fonNards to continuing its links with organizations and individuals within the communty in support of its objectives. The Committee would like to thank all those who help the Barrow Transport Museum Trust in whatever capacity. Flnanclal revlew The results for the year are summarised in the Statement of Financial Activities (income and expenditure account)- Incoming resources decreased by £7,196 (120/0) to £54,176. Expenditure totalled £50,213, a decrease of £7,728 (130/0). This lead to an increase in the fund balance of £3,963 to £22,909. It is the policy of the charity that unrestricted funds which have not been designated for a specrfic use should be maintained at a level equivalent to between three and six month's expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. On behalf of the board of trustees Mr Hambler tee Dated: ..i.é..ii -14
BARROW TRANSPORT MUSEUM TRUST LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BARROW TRANSPORT MUSEUM TRUST LIMITED I report on the accounts of the charity for the year ended 31 March 2024, whlch are set out on pages 4 to 8. Respectlve responslbllltlès of trustees and examlner The trustees, who are also the directors of Barrow Transport Museum Trust Limited for the purposes of company law. are responsible for the preparation of the accounts. The trustees consider that an audit Is not required for this year under section 144(2) of the Charities Act 2011, the 2011 Act, and that an independent examination is needed. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent 8xamination, it is my responsibility to: (i) examine the accounts under section 145 of the 2011 Act., (li) to follow the procedures laid down in the g8neral Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act., and (iii) to state whether particular matters have come to my attention. Basls of Independent examlnerfs report My examination was carried out in accordance with the general Directions given by the Charty Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeknng explanations from you as INstees conceming any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view, and the report is limited to those matters set out in tre ststement below. Independent examlner's statement (a) which gives me reasonable cause to believe that in any material respect the requirements: (i) to keep accounting records in accordance with section 386 of the Companies Act 2006., and (li) to prepare accounts which accord with the accounting records, comply with the accounting requirements of 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities; (b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. S Oram Melvllle & Co Chartered Certified Accountant Unit 17-18, Trinity Enterprise Centre Fumess Business Park Ironworks Road Barrow-in-Fumess LA14 2PN Dated.. 1.6. 11- l.y.......
BARROW TRANSPORT MUSEUM TRUST LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Donations and gifts Incoming resources from charitable activities 54,176 60,082 1.290 Total Incomlng resources 64,176 61,372 Charltable actlvlties Purchases Lottery prizes 199 2,700 139 2,600 Total charltable expendlture 2,899 2,739 Govemance and administrative costs 47,314 55,202 Total resources expended 60,213 57,941 Net Income for the yearl Net movement In funds 3,963 3,431 Fund balances at 1 April 2023 18.946 15,515 Fund balances at 31 March 2024 22.909 18.946 The statement of financial actiVFties also complies with the requirements for an income and expenditure account under the Companles Act 2006.
BARROW TRANSPORT MUSEUM TRUST LIMITED BALANCE SHEET ASAT31 MARCH 2024 2024 2023 Notes Flxed assets Tangible assets 7,712 8,749 Current assets Stocks Debtors Cash at bank and in hand 126 16.635 7,864 325 15,201 4,157 Credltors: amounts falllng due wlthln one year 24,626 19,683 (9.428) (9,486) Net current assets 15,197 10,197 Total assets less current Ilabllltles 22,909 18,946 Income funds Unrestricted funds 22,909 18,946 22,909 18,946 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2008, for the year ended 31 March 2024. No member of the company has deposited a nots'ts. pursuant to section 476, requiring an audit of these accounts. The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 of the Act and for preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwlse comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company. These accounts have been prepared in accordance with the special provisions relating to small companies within Part 15 ofthe CompaniesAct 2006. The accounts were approved by the Board on .....l.6.1 i . L Hambler tee Ms S Morrall Trustee Company Registratlon No. 03322838
BARROW TRANSPORT MUSEUM TRUST LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcies 1.1 Basis of preparation The accounts have been prepared under the historical cost convention. The accounts have been prepared in accordance with applicable accounting standards, the Statement of Recommended Practice, "Accounting and Reporting by Charities" issued in March 2005 and the Companies Act 2006. 1.2 Incoming resources Donations, legacies and other foms of voluntary income are recognised as incoming resources when receivable, except insofar as they are incapable of financial measurement. 1.3 Tangible flxed assets and depreciation Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calcdated to write off the cost less estimated residual value of each asset over its expected useful life, as follows: Plant and machinery Motor vehicles 25 % reducing balance not depreciated, see below The motor vehicles represent heritage assets. The trustees believe there are still stated at fair value. 1.4 Stock Stock is valued at the lower of Cost and net realisable value. Donations and gifts 2024 2023 GiftAid Tax Rebate GiftAid Subscriptions Gift Aid Donations GiftAid Donations with Subscription Subscriptions Donations Lottery Bonus Ball income Sales, incl. raffles Recharge 572 Group Recharge 104 Group Recharge No. 9 Group Recharge 931 Group Meal contributions Contributions to storage Contributions to insurance 7,788 620 30,773 470 240 3,498 5,635 3,685 287 63 394 287 436 7,281 620 34.607 814 190 3.359 6,169 4,284 236 118 425 631 1,100 248 Donations and gifts 54,176 60,082
BARROW TRANSPORT MUSEUM TRUST LIMITED NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Incomlng resources from charltable activltles Total 2024 Total 2023 Local Discretionary Covid Grant 1,290 Total resources expended Total 2024 Total 2023 Charltable actlvltles Purchases Lottery prizes 199 2,700 139 2,600 2,899 2,739 Governance and admlnlstratlve costs Insurance Repairs and maintenance Vehicle storage Motor expenses Coach hire, trips and events Printing, postage and stationery Recharges 572 group Recharges 104 group Recharges No. 9 group Depreciation Accountancy 2,729 13,848 12,000 12,991 1,397 433 287 63 394 1,037 1.848 3,292 23,300 13,290 10,515 738 150 236 118 425 1,385 1,753 47,027 55,202 50,213 57,941 Govemance costs includes payments of £924 (2023: £877) for the Independent Examination. Trustees None of the trustees (or any persons connected with them) r8ceived any remuneration during the yew, but four of them were reimbursed a total of £5,691 travelllng expenses {2023'. four were reimbursed £8,065). Employees There were no employees during the year.
BARROW TRANSPORT MUSEUM TRUST LIMITED NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Tangible fixed assets Plant and machlnery Motor vehlcles Total Cost At 1 Aprll 2023 and at 31 March 2024 12,200 4,601 16,801 Depreclatlon At 1 April 2023 Charge for the year 8,052 1,037 8.052 1,037 At 31 March 2024 9,089 9,089 Net book value At 31 March 2024 3,111 4,601 7.712 At 31 March 2023 4,148 4,601 8,749 The motor vehicles represent heritage assets.. Ex-Barrow Corporation 1950 Leyland PD213 No 147 Ex-Barrow Corporation 1950 Leyland PD213 No 124 Tow Wagon Ex-Barrow Corporation 1980 Leyland National No 23 99.5 Ex-Barrow Corporation Bus Leyland Tiger Caribbean 1985 - Archive records EX-BBT 1988 Talbot Minlbus No 100 E571 MAC 499 3,600 500 4,601 Debtors 2024 2023 Other debtors 16,635 15,201 Credltors: amounts falllng due wlthln one year 2024 2023 Other creditors 9,428 9,486