## **Trustees' Annual Report for the period**
Period start date Period end date 01 01 2020 31 12 2020 **To**
**From**
## Section A Reference and administration details
BR CLASS 8 STEAM LOCOMOTIVE TRUST
**Charity name Other names charity is known by Registered charity number (if any)** 1154700
**Charity's principal address** Aurora House, Deltic Avenue
Rooksley Milton Keynes **Postcode** MK13 8LW
## **Names of the charity trustees who manage the charity**
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Name of person (or body)
Dates acted if not for whole
Trustee name Office (if any) entitled to appoint
year
trustee (if any)
Mr Philip Secretary
1
Sanderson
2 Mr Trevor Tuckley Chairman
Mr Steven Treasurer
3
Wakeland
4 Mr David Oliver
5
6
7
8
9
10
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## **Names of the trustees for the charity, if any, (for example, any custodian trustees)**
**Name Dates acted if not for whole year**
## **Names and addresses of advisers (Optional information)**
**Type of adviser Name Address**
**Name of chief executive or names of senior staff members (Optional information)**
March **2012**
**TAR**
1
**Section B Structure, governance and management**
## **Description of the charity’s trusts**
Type of governing document
- (eg. trust deed, constitution)
> [Constitution ]
How the charity is constituted
- (eg. trust, association, company)
> [Foundation ]
Trustee selection methods
- (eg. appointed by, elected by)
> [Appointed by the other trustees ]
## **Additional governance issues (Optional information)**
You **may choose** to include additional information, where relevant, about:
- policies and procedures adopted for the induction and training of trustees;
- the charity’s organisational structure and any wider network with which the charity works;
The trustees have delegated day-to-day management to a Management Committee, which meets monthly. The members of the committee have responsibilities aligned to their role titles, as follows:
Chairman – Trevor Tuckley Secretary – Philip Sanderson
Senior Principal, Engineering Liaison – Philip Sanderson Senior Principal, Finance & General Admin. – Steven Wakeland Engineering Principal – Dave Oliver Social Media Principal – Eric Bond Projects Principal – Andrew Bailey Support Crew Principal – James Scott
- relationship with any related parties;
- trustees’ consideration of major risks and the system and procedures to manage them.
March **2012**
**TAR**
2
## **Section C Objectives and activities**
|**Summary of the objects of the**
**charity set out in its**
**governing document**
**Summary of the main**
**activities undertaken for the**
**public benefit in relation to**
**these objects (include within**
**this section the statutory**
**declaration that trustees have**
**had regard to the guidance**
**issued by the Charity**
**Commission on public**
**benefit)**|To advance public education and particularly scientific learning and skills
development by the acquisition, restoration, preservation, exhibition and
operation of such British Railways steam locomotives, rolling stock,
equipment and artefacts, relics, documents and records of historic and
scientific interest as the trustees may from time to time decide.|
|---|---|
||To fulfil its objectives, the Trust seeks to maintain and operate the
locomotive (71000 Duke of Gloucester) in a manner that emulates as
closely as possible the environment of its original working life, while
taking into account the demands and opportunities presented by
operation in the 21st century. This requires an ongoing programme of
maintenance, development and periodic overhaul of the locomotive and
its support coach to ensure that they continue to meet the latest main line
standards, plus the operation of both main line and preserved line trains.
The overhaul of the locomotive has continued through 2020, although
this was disrupted over several months as a result of the Coronavirus
pandemic. More recently the overhaul of the loco has resumed, and the
Trust hopes to complete this late in 2021.
Although the activities of the Trust have been curtailed by the pandemic,
fundraising from member and other donations has been resilient.
To provide a public window on our activities, the Trust maintains an
active website to demonstrate the advances made on the loco.
Information is also regularly made available to interested members of the
public through magazines and periodicals, specifically targeting heritage
railways. Like most organisations, our face-to-face contact with the
public has been severely limited in 2020 as a result of the Coronavirus
pandemic.
The trustees have had regard to the Charity Commission guidance on
public benefit.|
## **Additional details of objectives and activities (Optional information)**
Throughout 2020 the overhaul of the locomotive (71000 Duke of You **may choose** to include Gloucester) progressed in accordance with the objectives and further statements, where educational activities of the trust. Most of the work is undertaken by the relevant, about: professional engineers of Tyseley Locomotive Works, although the Trust policy on grantmaking; has two Working Parties per month when associate members work on the loco. As stated in the summary above, work on the loco has been policy programme related disrupted by the pandemic, but nevertheless good progress has been investment; made.
- contribution made by volunteers.
March **2012**
**TAR**
3
## Section D Achievements and performance
The work of the trust has continued despite the challenges of the **Summary of the main** pandemic during the year. The Management Committee met monthly **achievements of the charity** (via video conferencing from March onwards) and regular **during the year** communications were maintained with all associate members (either electronically or by post). The finances of the trust continued to operate on a sound basis through previously established bank accounts (an operating account and a membership account), plus Stripe and PayPal accounts for on-line payments. During the year, the number of associate members supporting the trust increased from 394 to 400. To better communicate with associate members during the first pandemic lockdown, weekly updates were sent via email from March through to August 2020. These were well received and appreciated by members. Sadly, there were no opportunities to attend public events in 2020, due to various pandemic restrictions, however as stated elsewhere, interested members of the public have been kept informed via articles in relevant magazines, the Trust’s website and social media platforms.
|**Section E Financial review**|**Section E Financial review**|
|---|---|
|**Brief statement of the**
**charity’s policy on reserves**
**Details of any funds materially**
**in deficit**
**Further financial review details**
You**may choose**to include
additional information, where
relevant about:
the charity’s principal
sources of funds (including
any fundraising);
how expenditure has
supported the key objectives
of the charity;
investment policy and
objectives including any
ethical investment policy
adopted.||
||During the year the trust maintained a tight control over its cashflow and
projected expenditure especially on the overhaul of the locomotive. The
Trust spent £127,232 on the locomotive, but also maintained a healthy
cash balance through the year, with a balance of £173,240 on 31
December.
The trust will continue to maintain limited reserves to ensure that it can
fund any emergency or short-term expenses. The size of such reserves
will be reviewed from time to time and will be commensurate with the
risks that the trust is proactively managing.|
||The trust has no funds in deficit.|
||**(Optional information)**|
||The trust’s primary continuing source of income is associate membership
donations (primarily by monthly payment). In 2020 the Trust’s income
from associate members and members of the public was £110,642. The
Trust also undertakes limited sales of merchandise; during the period of
this report those sales totalled £3,019, which represented just over 2.5%
of its income.
The bulk of expenditure in 2020 was on the locomotive overhaul and
insurance, which comprised 94.8% of expenditure.
The Trustees are acutely aware of the financial risks and review the cash
flow at least monthly.|
March **2012**
**TAR**
4
**Section F Other optional information**
In January 2018 action was taken to extend the Trust’s lease of the locomotive from 50 to 100 years. The Trust will now be the custodian of the locomotive until 3rd December 2117.
## **Section G Declaration**
**The trustees declare that they have approved the trustees’ report above.**
**Signed on behalf of the charity’s trustees**
**Signature(s) Full name(s)** Steven Sidney Wakeland **Position (eg Secretary, Chair, etc)**[Treasurer ] **Date** 14 April 2021
March **2012**
**TAR**
5
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BR Class 8 Steam Locomotive Trust 1154700
Receipts and payments accounts CC16a
For the period 01/01/2020 31/12/2020
To
from
**----- End of picture text -----**
**----- Start of picture text -----**
Section A Receipts and payments
Unrestricted Restricted Endowment
Total funds Last year
funds funds funds
to the nearest £ to the nearest £ to the nearest £ to the nearest £ to the nearest £
A1 Receipts
Membership donations 105,016 - - 105,016 79,456
Donations 5,627 - - 5,627 70,791
Legacies 3,850 - - 3,850 -
Sale of merchandise 3,019 - - 3,019 4,588
Miscellaneous income 244 - - 244 197
- - - - -
- - - - -
- - - - -
Sub total (Gross income for 117,756 - - 117,756 155,032
AR)
A2 Asset and investment sales,
(see table).
Loans received - - - - -
Decrease in shop inventory 90 - - 90 -
Decrease in VAT debtor - - -
Sub total [ 90 ] - - 90 -
Total receipts 117,846 - - 117,846 155,032
A3 Payments
Membership cards 58 - - 58 445
Locomotive overhaul and insurance 127,232 - - 127,232 165,590
Purchases of merchandise 672 - - 672 1,769
Promotions, printing and software 4,503 - - 4,503 10,889
Memberships and affiliations 35 - - 35 12
Finance charges 548 - - 548 430
Professional fees 1,150 - - 1,150 1,650
Miscellaneous expenses - - - - 550
- - - - -
Sub total 134,198 - - 134,198 181,335
A4 Asset and investment
purchases, (see table)
- - - -
Increase in VAT debtor 4,665 - - 4,665 1,920
Increase in shop inventory - - 1,416
Sub total 4,665 - - 4,665 3,336
Total payments 138,863 - - 138,863 184,671
Net of receipts/(payments) - 21,017 - - - 21,017 - 29,639
A5 Transfers between funds - - - - -
A6 Cash funds last year end 194,360 - - 194,360 223,999
Cash funds this year end 173,343 - - 173,343 194,360
**----- End of picture text -----**
## **Section B Statement of assets and liabilities at the end of the period**
|**Categories**
**B1 Cash funds**|**Details**
Cash at bank|**Unrestricted**
**funds**
**to nearest £**
**173,343**
**-**
**-**|**Restricted**
**funds**
**to nearest £**
**-**
**-**
**-**|**Endowment**
**funds**
**to nearest £**
**-**
**-**
**-**|
|---|---|---|---|---|
CCXX R1 accounts (SS)
14/04/2021
1
|Signed by one or two trustees on
behalf of all the trustees
**B2 Other monetary assets**
**B3 Investment assets**
**B4 Assets retained for the**
**charity’s own use**
**B5 Liabilities**|**Details**
**Details**
**_Total cash funds_**
(agree balances with receipts and payments
account(s))
Shop inventory
VAT debtor
**Details**
**Details**
Interest free loans
Railway locomotive 71000 "Duke of
Gloucester" - heritage asset
MKII BR Coach - heritage asset
Signature|**173,343**
**-**
OK
OK
**Unrestricted**
**funds**
**Restricted**
**funds**
**to nearest £**
**to nearest £**
**2,797**
**-**
**6,670**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**Fund to which**
**asset belongs**
**Cost (optional)**
**-**
**-**
**-**
**-**
**-**
**Fund to which**
**asset belongs**
**Cost (optional)**
Unrestricted
**-**
Unrestricted
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**Fund to which**
**liability relates**
**Amount due**
**(optional)**
Unrestricted
**20,000**
**-**
**-**
**-**
**-**
Print Name
STEVEN S WAKELAND|**-**
OK|
|---|---|---|---|
||||**Endowment**
**funds**
**to nearest £**
**-**
**-**
**-**
**-**
**-**
**-**
**Current value**
**(optional)**
**-**
**-**
**-**
**-**
**-**
**Current value**
**(optional)**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**When due**
**(optional)**
Date of
approval
04/04/2021|
CCXX R2 accounts (SS)
14/04/2021
2
##
##
|Section A
l|ndependent Examiner's Report|||
|---|---|---|---|
|Reportto the trustees/
membersof|BRClassBSteam LocomotiveTrust|||
|Onaccounts for the year|31December2O2O|Charity no|1154700|
|ended||(ifany)||
|Setout onpages|1-2|||
##