## **Trustees’ Annual Report for the period** ## **From 1 January 2022 To 31 December 2022** ## **Charity name: BR Class 8 Steam Locomotive Trust** ## **Charity registration number: 1154700** ## **Objectives and Activities** ||SORP reference|| |---|---|---| |Summary of the purposes of
the charity as set out in its
governing document|Para 1.17|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.| |Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or
services identified in the
accounts.|Para 1.17 and
1.19|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 considering 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 2022, with earlier disruptions now
behind us the Trust hopes to complete this in
2023. Full activities of the Trust have resumed
following the pandemic. Fundraising has
plateaued because of increases in the cost of
living, but the Trust continues to have a healthy
balance sheet.
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. Face-to-face| |||contact with members and the public has also
resumed after the pandemic.| |---|---|---| |Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit|Para 1.18|The trustees have had regard to the Charity
Commission guidance on public benefit. The
trustees regularly review any new advice and
guidance from the Charity Commission.| **Additional information (optional)** You may choose to include further statements where relevant about: ||SORP reference|| |---|---|---| |Policy on grant making|Para 1.38|| |Policy on social investment
including program related
investment|Para 1.38|| |Contribution made by
volunteers|Para 1.38|Throughout 2022 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 week when
associate members work on the loco. The work
of our volunteers has contributed a significant
amount to the overhaul of the loco.| |Other||| ## **Achievements and Performance** ||SORP reference|| |---|---|---| |Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.|Para 1.20|The work of the trust has continued throughout
the year. The Trustees and Management
Committee met monthly (via video
conferencing). Regular communications were
maintained with all associate members (either
electronically or by post) and all members were
invited to face-to-face events at Tyseley held on
3 April and 19 November.
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 decreased
slightly from 441 to 439.
Regular communications with associate
members continued through the year, with high
readership and complementary feedback from
members.| Members of the public have been informed of the Trust’s work via articles in relevant magazines, the Trust’s website, and social media platforms. During the early part of 2022, Trevor Tuckley as Chairman of the Trust, instigated a programme of succession planning. This was done to ensure a seamless change in the needs of the Trust as it moves from being primary concerned with completing the overhaul to one of managing the hire out of the Duke. Steve Wakeland assumed the role of Managing Trustee to develop a management structure suitable for handling these changing needs. Trevor Tuckley continues as Chairman of the Trust which ensures the required continuity during this period of change leading up to the Duke’s return to mainline running. ## **Additional information (optional)** You may choose to include further statements where relevant about: |Achievements against
objectives set|Para 1.41|Despite all the issues that the Trust has
encountered, progress against the charity’s
core objectives remains strong. When the
locomotive returns to service later in 2023 this
will give a major boost to the Trust’s
achievements.| |---|---|---| |Performance of fundraising
activities against objectives
set|Para 1.41|Due to the diversity and enthusiasm of the
Trust’s associate members, the Trust has good
risk mitigation against potential downturns in
funding. Despite recent ‘cost of living’ issues,
the core income of the Trust has remained
steady.| |Investment performance
against objectives|Para 1.41|| |Other||| ## **Financial Review** |**Financial Review**||| |---|---|---| |Review of the charity’s
financial position at the end
of the period|Para 1.21|The trust’s primary continuing source of income
is associate membership donations (primarily
by monthly payment). In 2022 the Trust’s
income from associate members and members
of the public was £112,210. The Trust received
income from a legacy of £13,711. The Trust
also undertakes limited sales of merchandise;
during the period of this report those sales
totalled £2,482, which represented just over
1.9% of its income.
The bulk of expenditure in 2022 was on the
locomotive overhaul and insurance, which
comprised 93% of expenditure.
The Trustees are acutely aware of the financial
risks and review the cash flow at least monthly.| |Statement explaining the
policy for holding reserves
stating why they are held|Para 1.22|The Trust maintains strict control of finances
regularly reviewing budgets and spending over
the course of the next year and beyond. The
figures are incorporated into a cashflow
statement that is reviewed daily. The balances
held, together with projected income are
sufficient to fulfil the objectives of the Trust.| |Amount of reserves held|Para 1.22|Bank balances held at the end of 2022 totalled
£135,918.| |Reasons for holding zero
reserves|Para 1.22|| |Details of fund materially in
deficit|Para 1.24|| |Explanation of any
uncertainties about the
charity continuing as a going
concern|Para 1.23|The Trust maintains a details Risk Register and
regularly reviews and manages the risks faced.| |**Additional information (optional)**
You may choose to include further statements|**Additional information (optional)**
You may choose to include further statements|where relevant about:| |---|---|---| |The charity’s principal
sources of funds (including
any fundraising)|Para 1.47|As stated above, the Trust’s principal source of
income is donations from associate members.| |Investment policy and
objectives including any
social investment policy
adopted|Para 1.46|| |A description of the principal
risks facing the charity|Para 1.46|| |Other||| ## **Structure, Governance and Management** |Description of charity’s
trusts:||| |---|---|---| |Type of governing document
(trust deed, royal charter)|Para 1.25|Constitution| |How is the charity
constituted?
(e.g unincorporated
association, CIO)|Para 1.25|Foundation| |Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees|Para 1.25|Appointed by the other trustees.| ## **Additional information (optional)** You may choose to include further statements where relevant about: |||| |---|---|---| |Policies and procedures
adopted for the induction
and training of trustees|Para 1.51|| |The charity’s organisational
structure and any wider
network with which the
charity works|Para 1.51|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 – Steve Wakeland
Secretary – Philip Sanderson
Senior Principal, Engineering Liaison – Philip
Sanderson
Engineering Principal – Dave Oliver
Projects Principal – Andrew Bailey| |Relationship with any
related parties|Para 1.51|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. The
Trust recognises ultimate ownership of the loco
is with 71000 Locomotive Ltd, which is
acknowledged in insurance documentation.| |Other||| ## **Reference and Administrative details** |Charity name|BR Class 8 Steam Locomotive Trust| |---|---| |Other name the charity uses|| |Registered charity number|1154700| |Charity’s principal address|Aurora House
Deltic Avenue
Rooksley
Milton Keynes
MK13 8LW| ||| ## **Names of the charity trustees who manage the charity** |1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20|**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|||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| ## – Corporate trustees names of the directors at the date the report was approved **Director name** Name of trustees holding title to property belonging to the charity **Trustee name Dates acted if not for whole year** ## **Funds held as custodian trustees on behalf of others** Description of the assets The Trust has no funds held as custodian trustees on held in this capacity behalf of others. Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe custody and segregation of such assets from the charity’s own assets ## **Additional information (optional)** ## **Names and addresses of advisers (Optional information)** |**Type of**|**Name**|**Address**| |---|---|---| |**adviser**||| **Name of chief executive or names of senior staff members (Optional information)** ## **Exemptions from disclosure** Reason for non-disclosure of key personnel details **None** ## **Other optional information** ## **Declarations** **The trustees declare that they have approved the trustees’ report above.** **Signed on behalf of the charity’s trustees** |**Signature(s)**
**Full name(s)**
**Position (eg Secretary,**
**Chair, etc)**
**Date**||| |---|---|---| ||Steven Sidney Wakeland|| ||
Treasurer and Managing Trustees|| ||4 February 2023|| ||4 February 2023|| **BR Class 8 Steam Locomotive Trust 1154700 Receipts and payments accounts For the period** 01/01/2022 31/12/2022 **To from** ## **CC16a** ## **Section A Receipts and payments** |**A1 Receipts**|**Unrestricted**
**funds**
**to the nearest £**
**107,999**
**3,946**
**13,711**
**2,553**
**230**
**-**
**-**
**-**
**128,439**
**18**
**5,272**
**- 20,000**|**Unrestricted**
**funds**
**to the nearest £**
**107,999**
**3,946**
**13,711**
**2,553**
**230**
**-**
**-**
**-**
**128,439**
**18**
**5,272**
**- 20,000**|**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 £**
**107,999**
**3,946**
**13,711**
**2,553**
**230**
**-**
**-**
**-**|**Total funds**
**to the nearest £**
**107,999**
**3,946**
**13,711**
**2,553**
**230**
**-**
**-**
**-**|**Last year**
**to the nearest £**| |---|---|---|---|---|---|---|---|---|---| |MembershipDonations|**107,999**||||||**107,999**||**121,254**| |Donations|**3,946**||||||**3,946**||**5,162**| |Legacies|**13,711**||||||**13,711**||**-**| |Sale of Merchandise|**2,553**||||||**2,553**||**2,206**| |Miscellaneous Income|**230**||||||**230**||**339**| |Sale of Assets|**-**||||||**-**||**17,917**| ||**-**||||||**-**||**-**| ||**-**||||||**-**||**-**| |**_Sub total_**_(Gross income for_
_AR)_|**128,439**||||||**128,439**||**146,878**| ||||||||**18**
**5,272**
**- 20,000**
**- 14,710**||| |**A2 Asset and investment sales,**
**(see table).**|||||||||| |Decrease in ShopInventory|**18**||**-**||**-**||**18**||**47**| |Decrease in VAT Debtor|**5,272**||**-**||**-**||**5,272**||**1,255**| |Repayment of Loan|**- 20,000**||**-**||**-**||**- 20,000**||| |**_Sub total_**|**- 14,710**||**-**||**-**||**- 14,710**||**1,302**| |**_Total receipts_**
**A3 Payments**|**113,729**
**83**
**143,821**
**933**
**5,683**
**212**
**726**
**2,100**
**-**
**-**||**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**||**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**||||| ||||||||**113,729**||**148,180**| ||||||||**83**
**143,821**
**933**
**5,683**
**212**
**726**
**2,100**
**-**
**-**
**153,558**
**-**
**-**
**-**
**153,558**
**- 39,829**||| |
MembershipCards|**83**||**-**||**-**||**83**||**117**| |Locomotive Overhaul & Insurance|**143,821**||**-**||**-**||**143,821**||**102,236**| |Purchase of Merchandise|**933**||**-**||**-**||**933**||**1,117**| |Promotions, Printing& Software|**5,683**||**-**||**-**||**5,683**||**7,670**| |Membership& Affiliations|**212**||**-**||**-**||**212**||**263**| |Finance Charges|**726**||**-**||**-**||**726**||**593**| |Professional Fees|**2,100**||**-**||**-**||**2,100**||**2,765**| |Miscellaneous Expenses|**-**||**-**||**-**||**-**||**983**| |Purchase of BR Mk1 Support Coach|**-**||**-**||**-**||**-**||**30,000**| |**_Sub total_ **|**153,558**||**-**||**-**||**153,558**||**145,744**| ||**-**
**-**||**-**
**-**||**-**
**-**||||| |**A4 Asset and investment**
**purchases, (see table)**|||||||||| ||**-**||**-**||**-**||**-**||| ||**-**||**-**||**-**||**-**||| |**_Sub total_ **|**-**||**-**||**-**||**-**||**-**| |**_Total payments_**
**_Net of receipts/(payments)_**
**A5 Transfers between funds**
**A6 Cash funds last year end**
**_Cash funds this year end_**|||||||||| ||**153,558**||**-**||**-**||**153,558**||**145,744**| ||**- 39,829**
**-**
**175,779**
**135,950**||**-**
**-**
**-**
**-**||**-**
**-**
**-**
**-**||||| ||**- 39,829**||**-**||**-**||**- 39,829**||**2,436**| ||**-**||**-**||**-**||**-**||**-**| ||**175,779**||**-**||**-**||**175,779**||**173,343**| ||**135,950**||**-**||**-**||**135,950**||**175,779**| CCXX R1 accounts (SS) 20/09/2023 1 ## **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
**Details**
**Details**
Railway Locomotive 71000 "Duke of
Gloucester" - Leasehold
BR Mk1 BFK Support Coach No W17105
Cash at Bank & in Hand
**Details**
**Details**
**_Total cash funds_**
(agree balances with receipts and payments
account(s))
Shop Inventory
VAT Debtor
**Details**|**Unrestricted**
**funds**
**to nearest £**
**135,950**
**-**
**-**|**Unrestricted**
**funds**
**to nearest £**
**135,950**
**-**
**-**|**Unrestricted**
**funds**
**to nearest £**
**135,950**
**-**
**-**| |---|---|---|---|---| |||**135,950**||**-**| |||**-**||**-**| |||**-**||**-**| |||**135,950**||**-**| |||OK||| |||Steven S Wakeland||| |||||| CCXX R2 accounts (SS) 20/09/2023 2 CHARITY COMMISSION FOR ENGIAND AND WALES Independent examiner's report on the accounts Section A Independent EXamine￿S Report Report to the trustees BR Class 8 Steam Locomotive Trust On accounts for the year ended 31 December 2022 Charity no lif any) 1154700 Set out on pages Fom) CC16a- PèJ85 1 & 2 (Temember 10 I￿Ude the page numbers ol addiiional she*s I report to the Iruslees on my examination of the a¢￿UnIS of the above charity 1.the Trust") for the year ended 31 December 2022. Responslbllltles and basis of report As the charity's trustees, you are responsible for the preparation of the accounts in aG¢Ordan￿ with the requirements of the Charities Act 2011 l-the Act.). 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 Direclions given by the Charity Commisgon under seclion 14515}Ibl of the Acl. Independent examiner's statement I have cornpleled my examination. I confirm that no material mattets have come lo my attention in connecliors with the examination which gives me cause lo believe Ihal in. any malerial respect: the accounting records were nol kepl in accordance with section 130 of the Charities Act. or the accounts did not accord with the accounting records., or the accounts did not comply wilh the applicable requirements conceming the fomi and conlenl of accounts sel out in the Charities {Accounls and ReFN)rtsl Regulations 2008 other than any requirement that the accounts give a 'lrue and fair, view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination lo wh￿h attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed: Date: 2210912023 Narne: Melanie Allday Relevant professional qualificationls) or body A550ciation of Accounting Technicians IER Oct 2018 (If any): Address: 2 Bridge Fami Offices, Hart)erton. Totnes, Devon. TQ9 7PP Section B Oisclosure Onty cOMp￿te rf the examner needs lo h￿hlIght materrdl matter5 of concern (see CC32. Independent examination of charity accounts.. directions and guidance for examlners). Glve h•r• brfef detall• of any Items that the oxamln•r wl•h•• to dlsclo80. IER Oct 2018