**URIE LOCOMOTIVE SOCIETY LIMITED (REGISTERED NUMBER: 04703357)** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022** The trustees who are also directors of the charity for the purposes of the Companies Act 2006, namely D Barfield and B Stratton, present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2022). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The objectives of the charity are to preserve, operate and exhibit for the public benefit for educational and instructional purposes, locomotives of historic or scientific importance designed by Robert Urie of the London and South Western Railway (LSWR). The locomotives owned by the charity are Urie S15 number 499, which entered service with the LSWR on 1 May 1920, and 506 which entered service on 23 October 1920. Further, the charity owns a number of items of rolling stock which will be used to recreate a freight train typical of the type hauled by its locomotives. The trustees have referred to the guidance in the Charity Commission's general guidance on public benefit when reviewing their aims and objectives and in planning future activities. In particular, the trustees regularly consider how planned activities will contribute to the aims and objectives that have been set. ## **Volunteers** The charity is reliant on volunteer labour for the work carried out on the restoration of the frames and tender of 499, fund raising, staffing of its sales stand, steam galas and other events, preparation and production of Stovepipe, website production and maintenance and full financial function. Its engineering team are working with MHR paid staff in the Ropley boiler shop on the overhaul of the boiler for 499. It is estimated that during the reporting period over 4,000 volunteer hours were provided during the year; a volunteer effort valued at over £120,000. ## **COVID-19** The success of the Government’s vaccination programme created an environment where no lockdowns were necessary or introduced during the period under review, thus allowing the engineering team to work on the restoration of 499 for the full year. Although it was theoretically possible to return to a physical AGM in 2021, the Trustees decided to continue with the postal voting system implemented in 2020, to great success. We did hold an open day during the summer as it was felt safe to do so in the open air, also we felt a duty of care towards the mental health and wellbeing of our members. ## **ACHIEVEMENT AND PERFORMANCE** ## **Charitable activities** The trustees can report that during the year ended 31 March 2022 the work on the frames of 499 continued but with the significant level of work already done, the engineering team were able to bring another part of the project into play. The tender frames, currently in two halves, were moved to site during the latter part of 2021. After a thorough inspection of the platework a plan for the restoration was formulated and the team are working through replacement of wasted sections of plate before eventually welding the two parts back together. Work on boiler 799 during the report period included fettling new firebox half sides removing the crown bars and burning off the crown stay nuts. Locomotive 506 required a new set of superheater elements which, due to manufacturing lead time, reduced the number of running days and therefore hire fees. The full cost of the new elements, however, was met by Mid Hants Railway Limited in accordance with the running agreement. ## **FINANCIAL REVIEW** ## **Financial performance** The results for the year and the charity's financial position at the end of the financial year are shown in the attached financial statements. Income from all normal sources showed a decrease over the previous year from £48,592 to £44,573. After all operating costs the charity activities yielded a surplus of £33,442 (2021: £36,940) which is added to accumulated reserves. The number of members of the society stood at 349 at the time of the AGM in November 2021. Page 2 **URIE LOCOMOTIVE SOCIETY LIMITED (REGISTERED NUMBER: 04703357)** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022** ## **Reserves policy** The charity will aim to keep general reserves at a level which will support its objectives for the next 2 to 3 years. Whilst this target holds true at 31 March 2022, expenditure on locomotive 499 is increasing significantly as the engineering team move into the next phase of its restoration with the manufacture of large components of the motion, the completion of the boiler overhaul, and a new tender tank all being needed ready for a planned return to steam in the next few years. Income from the running of 506 by MHR has been used to build a supply of spare parts and consumables, to build a reserve in case of a need for unexpected repairs to 506, and to fund work by MHR staff working on the overhaul of the boiler for 499. The trustees have previously stated their aim of raising the charity's profile and increase fundraising activities; this must continue to achieve the charity's goals. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is a charity limited by guarantee and was incorporated on 19 March 2003 and registered as a charity on 7 February 2012. The governing document of the charity is the memorandum and articles of association incorporated on 19 March 2003 and amended by special resolution on 23 January 2012. ## **Organisational structure** The trustees and directors form the management board, who meet regularly throughout the year. ## **Induction and training of new trustees** Advice for trustees published by the charity commission is given to new trustees and new guidance is notified and made available at board meetings. Board members have free access to all activities to ensure that they can be fully aware of the activities and methods of the charity. Page 2 **URIE LOCOMOTIVE SOCIETY LIMITED (REGISTERED NUMBER: 04703357)** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022** ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 04703357 (England and Wales) **Registered Charity number** 1145787 **Registered office** Tylston Cottage Tunbridge Lane Liphook Hampshire GU30 7QA **Trustees** D Barfield Director, Trustee, Company Secretary M Pedley Director B Stratton Director, Trustee R Burt (resigned 8 January 2022) - J Fry Trustee S Gault Trustee N Marshall Trustee F Rogers Trustee R Urie Trustee **Independent Examiner** Alan Williams (FCA) Hopper Williams & Bell Limited Chartered Accountants Highland House Mayflower Close Chandler's Ford Eastleigh Hampshire SO53 4AR Approved by order of the board of trustees on ............................................. and signed on its behalf by: .................................................................... D Barfield - Trustee Page 3 ITRIE LOCOMOTIIT SOCIETh" LIAItTED ST.4TEIIENt OF ￿1.4NcL4L.4c]T￿TIIEs FOR THE IT.4R ￿7)ED JI JL4RCH ?0?? •0•9 Totsl funds 2021 LWCOJIE.4ND ENDOMJIENTS FROM D(matsoD$ and kgac 33,908 .56? 48524 11 11 Total 33,708 44.573 48,592 Cknitable af tiiities Cbantabk activities NET LYCOJ 11,131 ?9,077 11,131 33,44? 11.652 36.940 RECONCILL4TIOW OF FLryDS Total hnds brought fonTard 167,718 341J73 304,433 TOT.4L FUYDS C.4RRIED FORII".4RD 374,815 341373 Page 5 IryIIE LOCO&IOThT SOCIETh" LIhltTED (REGISTERED NUMBER: 047033*7) B.4LIWCE SHEET 31 hL4RCH ?0?• ?0•? Total 2021 FLITD.4SSETS Tangble assets 188,4?0 18&4•0 157.9fAI CITRRENf.4SSETS Stocks 8,110 I,0•• 94,4•• &iio I,0•• 179.44• 8.110 2.786 173.402 C•sh at b•nk 103&54 18L£74 184298 CBEDtTORS (?,179) (?J79) (885) NET c￿U￿r.￿sSETs IOlJ74 186J9S 183.413 TOT.4L.4SSETS LESS CIryUIENT LL4BItIrIES •89,795 374JlS 341J73 NET ASSETS •89,794 374015 341373 DS 10 989,795 267.718 73,655 Restncted fuDds TOT.4L Fif¥DS 374,815 341.373 en&d 31 March 2022. The D￿[$ haiE not requued the CQD]pally to obtsin an auth"t of its staiathellts for the yeat ellded 31 Match 2022 ill accordance Sectsoll 476 of the Compan￿s Act 2(K16. (a) ers￿￿ that the cbantsble company keeps accrtng recozds that compty vrAth Secbons 386 and 387 of the Con¥anies Act ?C(J6 aJMI (b) prepanug finaucjal ststeukeDts whjch a ttue alld fau ￿eW of stste of affaus of the clwitsble cou as at & eDd of each financ￿1 yeaT ald of ts Mphts or deficit for each year ￿ accordance the TeqUw￿ts of Sects0￿ 394 •nd 395 a￿1 whKh Othern￿ COU￿lY with the [eqUWe￿ of & Compam Act 2￿6 relabng to statem￿ty so fat as appI￿able to the clwrtable compw. were Sig￿ on its E*balf by. Page 6 URIE LOCOMOTIIT SOCIETI. LIMtrED (REGISTERED NITMBER: 04703347) B.4L.IYCE SHEET- conlinued 31 hL4RCH •0?? B Stratton- Trustee Page 7 ITRIE LOCOhIOTIIT SOCIETh" LINttTED DEf.41LED ST.￿TE￿IE￿￿ OF FD.IYCL4L.4CIIITIIES FOR THE II.4R E￿I}ED 31 JL4RCH •0?? 2022 2021 INC0j￿ .4ND ENDOMIIENTS Donations and legacies 21.668 2.760 24,096 Subscr￿￿ons Hwe fees for IocDmotiN ?0090 44,56? 48,524 Ini"estment intome Interest ou cath de￿ 11 Total incoming resollT¢es .57J 48.592 LI?EI￿[rURE Cknitabk actiiities 896 3917 849 4,471 2,150 3,482 and pronwtsoDS Dewttiatt'on of ILKomots'ves a￿1 eq 3,483 10.631 10.952 Support Costs GoFernance costs 400 11,131 11.652 Net intorne 33,449 36.940 Page 15 T)EPEJTENT REPORT TO THE TRI STEES OF I"RIE LOCO)IOTII"E SOCIETY LLlllTED Independent eiaminer's report to the trustees of l rie Locomotii-e Socieh- Limited ('tbe Compan!",) I report to the chanty trusttts on exami￿0￿ of the accounts of the compa￿ the yeat eaded 31 March 2022. Responsibilities and basis of report As the cjwity's trustees of the Compally (2nd also its directors for the pwposes of company law) you are responsible for the pTep3ratioD of the accounts in accordance with the requirements of the CompaDies Act 2006 (Ihe 21X)6 Arf). H3￿ing satisfied myself that the accounts of the Conwany ate not required to be audited undet Part 16 of the 2006 Act and are ehgible for mdepetht eLimI￿￿o0 I report in respect of my eLimI￿￿On of your chan.tys accounts as led out Ulld￿ sectson 145 of the Chanties Act 2011 (the 2011 ACV). In C￿Ing (xts my exaMU￿On I have followed the Directions gNen by the Ch• COM￿s1on under sectM)n 145(5) (b) of the 2011 Act. Independent eiamiDei"'s statement I have completed my eL￿ri￿￿On. I confinn that oo mattu5 have coll￿ to my altentson in connection the eLiMI￿tiOll gil￿g me cause to Etlrnre" accounling fecords were not kept in fespect of the compa￿ as requred by section 386 of the 2006 Act: or the accounts do not accord with those records" or the accounts (lo not compty the accounting tequitrnts of section 396 of the 2006 Act othet than any reqwement that the accounts gNe a and falr Niew wknch is not a matter considued as part of an accounts ha￿e not been prepared in accordance with the n￿thOdS 2nd pnnc4)les of the Ststement of Recommended Practsce for accountsng and rq)ortiDg by chan'tses (3pphcable to C￿￿ttle5 preparing their accounts in accotdance with the Finaacd Remng Standatd aw)hcable in the UK and Repubhc of Iteland (FRS 102)). I hai'e no concerns and have come across no other mattets in connedion with the examI￿on to which attention should be &awn in [q￿ in otdu to enable a pT(yet undet5tandJng of the 3ccounts to be reached. A"hVillian: l Noi. 4. :022 0*11 OMT) Alan W￿l1MS (FCA) Hopw Wdlwlls & Bell L]mited Chaneted Accountants ghland House Mayfiower Close Chandl&s F￿d E3Stleigh Hampslllte S053 4AR 0411112022