## **Trustees’ Annual Report for the period** ## **From 1 January 2023 To 31 December 2023** ## **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 2023, with considerable progress
made. The Trust hoped to complete this by the
end of the year, and although this was not
possible, the loco was in light steam for the
Trust’s members to see on 3 December 2023.
Fundraising was similar to the previous year
and the Trust has sufficient reserves and
forecast income to be able to complete the
locomotive’s overhaul.
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
increased through attendance at several
heritage railway events throughout the year.| |---|---|---| |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 2023 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
17/18 June and 3 December.
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
439 to 459, reverting to our upward trajectory
following the pandemic and ensuing economic
shocks.
Regular communications with associate
members continued through the year, with high| readership and complimentary 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 later part of 2023, the trustees began the process of considering operators with whom we could work in 2024 when the loco becomes operational. We have multiple offers and will select the one that provides the best benefit for the Trust and members of the public in respect of longer-term finances and visibility of the locomotive. ## **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 in 2024 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, and membership has increased as
reported above.| |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 2023 the Trust’s
income from associate members and members
of the public was £112,446. The Trust also
undertakes limited sales of merchandise; during
the period of this report those sales totalled
£7,277, which represented just under 6.1% of
its income.
The bulk of expenditure in 2023 was on the
locomotive overhaul and insurance, which
comprised 88.2% 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|We hold reserves as our budgeting and reviews
tell us there will be periods when expenditure
exceeds our income, and we hold a reserve to
cover these periods. 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 2023 totalled
£104,978.| |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 detailed 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
Commercial Principal – 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|||| ||Mr Andrew Bailey||12 April 2023|| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| ## – 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 held in this capacity The Trust has no funds held as custodian trustees on 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 (e.g.**
**Secretary, Chair,**
**etc)**
**Date**||| |---|---|---| ||Steven Sidney Wakeland|| ||Treasurer and Managing Trustees|| ||24 September 2024|| ||24 September 2024|| ||**BR Class 8 Steam Locomotive Trust**|**BR Class 8 Steam Locomotive Trust**|**BR Class 8 Steam Locomotive Trust**|**BR Class 8 Steam Locomotive Trust**|**BR Class 8 Steam Locomotive Trust**|**1154700**|**1154700**|**1154700**|**CC16a**| |---|---|---|---|---|---|---|---|---|---| ||**For the period**
**from**||**01/01/2023**||**To**||**31/12/2023**||| ||||||||||| |**Section A Receipts and payments**|||||||||| |**A1 Receipts**|**Unrestricted**
**funds**
**to the nearest £**
**108,595**
**3,851**
**-**
**7,277**
**152**
**-**
**-**
**-**||**Restricted**
**funds**
**to the nearest £**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**||**Endowment**
**funds**
**to the nearest £**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**||**Total funds**
**to the nearest £**
**108,595**
**3,851**
**-**
**7,277**
**152**
**-**
**-**
**-**
**119,875**
**18**
**- 2,965**
**-**||**Last year**
**to the nearest £**| |MembershipDonations|**108,595**||**-**||**-**||**108,595**||**107,999**| |Donations|**3,851**||**-**||**-**||**3,851**||**3,946**| |Legacies|**-**||**-**||**-**||**-**||**13,711**| |Sale of Merchandise|**7,277**||**-**||**-**||**7,277**||**2,553**| |Miscellaneous Income|**152**||**-**||**-**||**152**||**230**| |Sale of Assets|**-**||**-**||**-**||**-**||**-**| ||**-**||**-**||**-**||**-**||**-**| ||**-**||**-**||**-**||**-**||**-**| |**_Sub total_**_(Gross income for_
_AR)_|**119,875**||**-**||**-**||**119,875**||**128,439**| ||**18**
**- 2,965**
**-**
**- 2,947**
**116,928**
**55**
**130,518**
**3,125**
**9,254**
**275**
**971**
**3,100**
**602**
**-**
**-**
**-**
**-**
**147,900**
**-**
**-**||**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**||**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**||||| |**A2 Asset and investment sales,**
**(see table).**|||||||||| |Decrease in ShopInventory|**18**||||||**18**||**18**| |Decrease in VAT Debtor|**- 2,965**||||||**- 2,965**||**5,272**| |Repayment of Loan|**-**||||||**-**||**- 20,000**| |**_Sub total_**|**- 2,947**||||||**- 2,947**||**- 14,710**| |**_Total receipts_**
**A3 Payments**|||||||||| ||||||||**116,928**||**113,729**| ||||||||**55**
**130,518**
**3,125**
**9,254**
**275**
**971**
**3,100**
**602**
**-**
**-**
**-**
**-**||| |MembershipCards|**55**||||||**55**||**83**| |Locomotive Overhaul & Insurance|**130,518**||||||**130,518**||**143,821**| |Purchase of Merchandise|**3,125**||||||**3,125**||**933**| |Promotions, Printing& Software|**9,254**||||||**9,254**||**5,683**| |Membership& Affiliations|**275**||||||**275**||**212**| |Finance Charges|**971**||||||**971**||**726**| |Professional Fees|**3,100**||||||**3,100**||**2,100**| |Miscellaneous Expenses|**602**||||||**602**||| |Purchase of BR Mk1 Support Coach|**-**||||||**-**||**-**| ||**-**||||||**-**||**-**| ||**-**||||||**-**||**-**| ||**-**||||||**-**||**-**| |**_Sub total_ **|**147,900**||||||**147,900**||**153,558**| ||||||||**-**
**-**
**-**
**147,900**
**- 30,972**||| |**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_**|||||||||| ||**147,900**||**-**||**-**||**147,900**||**153,558**| ||||||||||| ||**- 30,972**||**-**||**-**||**- 30,972**||**- 39,829**| ||**-**|

|**-**|

|**-**||**-**||**-**| ||**135,950**||**-**||**-**||**135,950**||**175,779**| ||**104,978**||**-**||**-**||**104,978**||**135,950**| CCXX R1 accounts (SS) 24/09/2024 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**
**B5 Liabilities**
**B3 Investment assets**
**B2 Other monetary assets**
**B4 Assets retained for the**
**charity’s own use**
**B1 Cash funds**|**Details**
**Details**
**_Total cash funds_**
(agree balances with receipts and payments
account(s))
Cash at Bank & in Hand
**Details**
**Details**
Railway Locomotive 71000 "Duke of
Gloucester" - Leasehold
BR Mk1 BFK Support Coach No W17105
**Details**|**Unrestricted**
**funds**
**to nearest £**
**104,978**
**-**
**-**||**Restricted**
**funds**
**to nearest £**
**-**
**-**
**-**
**-**
OK
**Restricted**
**funds**
**to nearest £**
**-**
**-**
**-**
**-**
**-**
**-**
**Cost (optional)**
**-**
**-**
**-**
**-**
**-**
**Cost (optional)**
**-**
**30,000**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**Amount due**
**(optional)**
**-**
**-**
**-**
**-**
**-**|**Endowment**
**funds**
**to nearest £**| |||**104,978**||**-**|**-**| |||**-**||**-**|**-**| |||**-**||**-**|**-**| |||**104,978**||**-**|**-**| |||OK|||OK| |||**Unrestricted**
**funds**
**to nearest £**
**-**
**-**
**-**
**-**
**-**
**-**
**Fund to which**
**asset belongs**
**Fund to which**
**asset belongs**
Unrestricted
Unrestricted
**Fund to which**
**liability relates**|||**Endowment**
**funds**
**to nearest £**| ||||||**-**| ||||||**-**| ||||||**-**| ||||||**-**| ||||||**-**| ||||||**-**| ||||||**Current value**
**(optional)**| ||||||**-**| ||||||**-**| ||||||**-**| ||||||**-**| ||||||**-**| ||||||**Current value**
**(optional)**| ||||||**-**| ||||||**-**| ||||||**-**| ||||||**-**| ||||||**-**| ||||||**-**| ||||||**-**| ||||||**-**| ||||||**-**| ||||||**When due**
**(optional)**| |||||**-**|| |||||**-**|| |||||**-**|| |||||**-**|| |||||**-**|| Signed by one or two trustees on behalf of all the trustees ## Signature Print Name Steven S Wakeland Date of approval 24/09/2024 CCXX R2 accounts (SS) 24/09/2024 2 CHARITY COMMISSION FOR ENGLAND AND WALES Independent examlner's report on the accounts Section A Independent Examiner's Report Report to the trusteesl members of 8R Ckss e steam Loccffith•Tntst On accounts for the year ended Charity no (if any) 31 December 2023 1154700 Set out on pages Fonn CC168- Pages 1 & 2 Iremember lo Include ihe page numbers of addWon81 sh8etsl I report to the trustees on my examlnatlon of the accounts of the above charlty (Ihe Trust.) for the year ended 31 December 2023. Responsibllltles and As the charity trustees of the Trust. you are responsible for the preparatlon basis of report of the accounts in accordance with the requirements of the Charlties Act 2011 {°the Acr). 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 8xamlnation. I have followed the appllcable Dlrectlons glven by the Charity Commission under seclion 145{5)(b) of the Act. I have cKJmpleted my examination. I confimi that no materfal matters hav8 come to my attention (other than that dls¢los8d b81ow') in ￿nnectIon with the examination which glves m8 cause to believe that In. any material respecL' accountlng records were not kept in accordance wlth sectlon 130 of the Act or the accounts do not accord with the accounting records Independent •xamln•rfs statement I have no concems and have come across no other matt8rs in connection with the examination to which attention should be drawn in order to enable a proper understandlng of the accounts to be reached. ' Please delete the words in th8 lJrack8ts rfthey do not apty. Slgnod: Date: Namo: Melanie Allday Relevant professional quallflcatlon(8) or body (rfany): Association of Accounting Techni(ians Address: 2 Bridge Fami Offices Harberton Totnes. Devon. TQ9 7PP IER October 2018 Section B Disclosure Only complete rf the examiner needs to highlight matters of concem (see CC32, Independent eK3mination of charity acetyjn￿ directions and guldance for examiners). Glvo hero brlof detslls of any items that tho examiner wishes to disclose. IER October 2018