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2021-12-31-accounts

Trustees' Annual Report for the period

Period start date Period end date 01 01 2021 31 12 2021 From To

Section A Reference and administration details

Charity name Other names charity is known by Registered charity number (if any) 1154700 Charity's principal address Aurora House, Deltic Avenue

BR CLASS 8 STEAM LOCOMOTIVE TRUST

Rooksley Milton Keynes Postcode MK13 8LW

Names of the charity trustees who manage the charity

1
2
3
4
5
6
7
8
9
10		 Trustee name Office (if any) Dates acted if not for whole
year		 Name of person (or body)
entitled to appoint
trustee (ifany)
Mr Philip
Sanderson		 Secretary
Mr Trevor Tuckley Chairman
Mr Steven
Wakeland		 Treasurer
Mr David Oliver

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)

TAR

March 2012

1

Section B Structure, governance and management

Description of the charity’s trusts

Type of governing document

[Constitution ]

How the charity is constituted

[Foundation ]

Trustee selection methods

[Appointed by the other trustees ]

Additional governance issues (Optional information)

You may choose to include additional information, where relevant, about:

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

Projects Principal – Andrew Bailey Finance Manger – Christine Marlow

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March 2012

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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.
In order to fulfil its objectives, the Trust seeks to maintain and operate
71000 Duke of Gloucester in a manner that emulates as closely as
possible the environment of its original working life, whilst taking into
account the demands and opportunities presented by operation in the
21st century. This requires an ongoing programme of periodic overhauls,
development and maintenance of the locomotive and its support coach to
ensure that they continue to meet the latest main line operating
standards. The operation of the locomotive hauling trains on both the
main line and heritage lines is fundamental to meeting the objectives so
that it can be experienced by the widest possible audience. An encounter
with No.71000 has the potential to ignite a lifelong interest in engineering,
technology, and transport and the potential to foster interest in these
subjects among young people.
The overhaul of the locomotive has continued through 2021, although
there was some continuing disruption due to the Coronavirus pandemic.
More recently the overhaul of the loco has again resumed, and the Trust
hopes to complete this late in 2022.
Although the activities of the Trust have been curtailed by the pandemic,
fundraising from members 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 2021 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)

You may choose to include further statements, where relevant, about:

Throughout 2021 the overhaul of the locomotive (71000 Duke of Gloucester) progressed in accordance with the objectives and educational activities of the trust. Most of the work is undertaken by the professional engineers of Tyseley Locomotive Works, although the Trust 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 disrupted by the pandemic, but nevertheless good progress has been made.

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March 2012

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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 Trustees and Management Committee achievements of the charity met monthly (via video conferencing) and regular communications were during the year 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 400 to 441. Our regular communications with associate members continued through the year, with high readership and complementary feedback from members.

Sadly, there were no opportunities to attend public events in 2021, 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
Youmay chooseto 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 £102,236 on the locomotive, but also maintained a healthy
cash balance through the year, with a balance of £175,779 on
31 December 2021.
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 2021 the Trust’s income
from associate members and members of the public was £126,416. The
Trust also undertakes limited sales of merchandise; during the period of
this report those sales totalled £2,206, which represented just under
1.5% of its income.
The bulk of expenditure in 2021 was on the locomotive overhaul and
insurance, which comprised 69.0% of expenditure.
The Trustees are acutely aware of the financial risks and review the cash
flow at least monthly.

TAR

March 2012

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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 27 August 2022

TAR

March 2012

5

BR Class 8 Steam Locomotive Trust 1154700 Receipts and payments accounts CC16a For the period 01/01/2021 31/12/2021 To from

Section A Receipts and payments

A1 Receipts Unrestricted
funds
to the nearest £
121,254
5,162
-
2,206
339
17,917
-
-
146,878
-
47
1,255		 Unrestricted
funds
to the nearest £
121,254
5,162
-
2,206
339
17,917
-
-
146,878
-
47
1,255		 Restricted
funds
to the nearest £
-
-
-
-
-
-
-
-
-
-
-
-		 Restricted
funds
to the nearest £
-
-
-
-
-
-
-
-
-
-
-
-		 Endowment
funds
to the nearest £
-
-
-
-
-
-
-
-
-
-
-
-		 Endowment
funds
to the nearest £
-
-
-
-
-
-
-
-
-
-
-
-		 Total funds
to the nearest £
121,254
5,162
-
2,206
339
17,917
-
-		 Total funds
to the nearest £
121,254
5,162
-
2,206
339
17,917
-
-		 Last year
to the nearest £
MembershipDonations 121,254 121,254 105,016
Donations 5,162 5,162 5,627
Legacies - - 3,850
Sale of Merchandise 2,206 2,206 3,019
Miscellaneous Income 339 339 244
Sale of Assets 17,917 17,917 -
- - -
- - -
Sub total(Gross income for
AR)		 146,878 146,878 117,756
-
47
1,255
1,302
A2 Asset and investment sales,
(see table).
Loans Received - - - -
Decrease in ShopInventory 47 - - 47 90
Decrease in VAT Debtor 1,255 - - 1,255 -
Sub total 1,302 - - 1,302 90
Total receipts
A3 Payments
148,180 - - 148,180 117,846
117
102,236
1,117
7,670
263
593
2,765
983
30,000		 -
-
-
-
-
-
-
-
-		 -
-
-
-
-
-
-
-
-		 117
102,236
1,117
7,670
263
593
2,765
983
30,000
145,744
-
-

MembershipCards		 117 - - 117 58
Locomotive Overhaul & Insurance 102,236 - - 102,236 127,232
Purchase of Merchandise 1,117 - - 1,117 672
Promotions, Printing& Software 7,670 - - 7,670 4,503
Membership& Affiliations 263 - - 263 35
Finance Charges 593 - - 593 548
Professional Fees 2,765 - - 2,765 1,150
Miscellaneous Expenses 983 - - 983 -
Purchase of BR Mk1 Support Coach 30,000 - - 30,000 -
**Sub total ** 145,744 - - 145,744 134,198
-
-
-
145,744		 -
-
-
-		 -
-
-
-
A4 Asset and investment
purchases, (see table)

Increase in VAT Debtor		 - - 4,665
Increase in ShopInventory - -
**Sub total ** - - 4,665
Total payments
Net of receipts/(payments)
A5 Transfers between funds
A6 Cash funds last year end
Cash funds this year end
145,744 138,863
2,436
2,436 - - 2,436 - 21,017
-

-

- - -
173,343 - - 173,343 194,360
175,779 - - 175,779 173,343

CCXX R1 accounts (SS)

26/08/2022

1

Section B Statement of assets and liabilities at the end of the period Section B Statement of assets and liabilities at the end of the period Section B Statement of assets and liabilities at the end of the period Section B Statement of assets and liabilities at the end of the period Section B Statement of assets and liabilities at the end of the period
Categories
Signed by one or two trustees on
behalf of all the trustees
B1 Cash funds
B2 Other monetary assets
B4 Assets retained for the
charity’s own use
B5 Liabilities
B3 Investment assets		 Signature
Interest Free Loans
Details
Details
Railway Locomotive 71000 "Duke of
Gloucester" - Leasehold
BR Mk1 BFK Support Coach No W17105
Cash at Bank
Details
Details
Total cash funds
(agree balances with receipts and payments
account(s))
Shop Inventory
VAT Debtor
Details		 Unrestricted
funds
to nearest £
175,779
-
-		 Endowment
funds
to nearest £
175,779 - -
- - -
- - -
175,779 - -
OK OK
Endowment
funds
to nearest £
-
-
-
-
-
-
Current value
(optional)
-
-
-
-
-
Current value
(optional)
-
-
-
-
-
-
-
-
-
When due
(optional)
Date of
approval
Steven S Wakeland 27 August 2022

CCXX R2 accounts (SS)

26/08/2022

2

CHARITY (OMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trusteesl members of BR Class 8 Steam Locomotive Trust On accounts for the year ended 31 December 2021 Charity no lif any) 1154700 Set out on pages Form CC16a- Pages 1 & 2 I report to the Iruslees on my examination of the accounts of the above charity { the Trust") for the year ended 31 December 2021. Responsibilities and basis of report As the charity's Iruslees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 I'the Acl"}. I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission und6r séction 145151{bl of the Act. Independent I have completed my examination. I confirm that no material mallers have examiner's statement come lo my allenlion in connection with the examination which gives me cause lo believe that in, any material respect.. the accounting records were not kept in accordance with section 130 of the Charities Act., or the accounts did not ac¢ord with the accounting records., or the accounts did not comply with the applicable requirements concerning the form and conlenl of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the aGcounls give a 'lrue and fair, view which is not a matter considered as pari of an independent examination. I have no concerns and have come across no other mallers in connection with the examination to which allenlion should be drawn in this report in order lo enable a proper understanding of the acGounls lo be reached. Signed: Date: 19 AL4GusT Zozz Name: Melanie Allday Relevant professional qualificationlsl or body {if any): MAAT Address: 2 Bridge Farm Offices, Harberton, Tolnes. TQ9 7PP IER Oct 2018

Section B Disclosure Only complete if Ihe examiner needs lo highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners). Glve here brlef details of any items that the exarniner wlshes to dls¢lose. IER Oct 2018