INGROW
WEST
Ii•i
a￿£&￿UR1
KEIGHLEY
ICILEI C.I.JUICTI D N
VINTAGE CARRIAGES
TRUST
UNAUDITED FINANCIAL STATEMENTS
31 MARCH 2024
Charity Registration Number: 1156931
STtIEETS
SPENSER WILSON
CHARTERED ACCOVNTANTS

VINTAGE CARRIAGES TRUST
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
PAGE
Trnstees, annual report
Independent examiner's report to the Tn￿teeS
Statethent of financial activitics
Statcmcnt of fllmncial position
Notes to tlie financial statements
io
Tlie folloiving pages do not forni part of the financial statements
Detailed st2tem¢nt of finaucial activities
21
Not¢s to tlie detaiEcd statement of financial activities
22

VINTAGE CARRIAGES TRUST
TRUSTEES, ANNUAL REPORT
YEAR ENDED 31 MARCH 2024
The Trustees present tlieir report and the unau(h'ted fillancial statetnents of the charity for tl)e year ended
31 Marcli 2024.
REFERENCE AND AD,MtNISTRATtVE DETAILS
Registered charity name
Vintage Catrtages Trust
Charity regtstration number
1156931
Principal o￿lCe
The Railway Station
Haworth
Keighley
West Yorkshire
BD22 8NJ
England
The Trustees
T R Enuland
D NT Carr
S A Seabro()k
l B Smith
R L Sprot
CGSmyth
S Astley
P E Bowker
R J Taggart
D J Cross
A S Haley
D Cullingivorth
K A CarIton
P Yewdall
(Resigned I l November 2023)
(Resigned I l November 2023)
(Appointed I l November 2023)
(Appointed I l Noveniber 2023)
Baiiker
CAF Bank
25 Kings l-till Avenue
kings Hill
West Malling
Kent MEI 9 4JQ
Independent Examiner
Mrs E A ShortFCA
EquAtable House
55 Pellon Lane
Halifax
HXI 5SP

VINTAGE CARRLIGES TRUST
TRUSTIES, ANNUAL REPORT (
coijiinued)
YEAR ENDED 31 MARCH 2024
,STRUCTURE, GOVERNAI¥CE AND MANAGEMENT
Governing document
Vintage CatTiages TR￿st is a Charitable Encoryorated Organisation (CIO), registered cliarity No.
1156931 and is govenied by its constitution.
Governancc aud management
Jlie overalL IEsponsibiLity for Vintage Carriages Trust rests with the Trustees of the charity.
Recruitment and appointment of Truste
Tnistees are elected by inembership at the Annual Meeting and are recruited to address the specÈfic
needs of tbe organisation.
Trustee Induction xnd Training
Induction of Trustees is largely t1￿Ollgh infonnal discussion with iiew recruits. Trnstees are supplied
with an agreed policy defining the Trustees, roles and responsibilities togethei. with a copy of ihe
collstitutkon.
Risk Managenient
The Trustees have assessed the major risks to which die clwity is exposed. Whcre appmpriate, systeLtIs
and procediires Iiave beffli established to mitigate the risks tbe charity Faces, and additional policies are
being pul in place wliei'e required.
Internal risks ￿'e minitnised by the irnplemcntation of procedures for authorisation of all transactions
and projeLts.
Proccdur&8 are in place to ensure compliance with health and safety of niembers and volunteers and
visitors.
OBJECTIVES AND ACTIVITIES
To educate the public through the establisbment of a railway n]useum and to acquire and prcserve
railway cariiages, railway locomotives and otlier itenis of rolling stock and associated equipment.
Restore and maintain such items, house tliem and put then] on display, loan or hire them so tbat they
may be used if practicable, and make suitable arrangements for tlieir colltiiiued preservation as fai. as
possible. To sponsor the publication of books, articles etc, containing information about these items and
rolling stock and railways generajly, and otherwise to promote interest in these subjects.

VINTAGE CARRIAGES TRUST
TRUSTEES. ANNUAL REPORT f
YEAR KNDED 31 MARCH 2024
ACHIEVEMI ENTS AND PERFORMANCE
General
The period iipon whicli we arc reporting has. in some respects, m2rked a return to relative certainty, iii
that the piiblic have been able visit The knage Works oll aiiy day of the week, and we have been abEe
to offer our usual range of retail items. Il'e haiie rem&uied able to ofter members the apportE￿ity to
attend both Chainnan's Day and the Annual Gene121 ￿leeting at a inoi"e spacious and comfoitable venue.
We have however, exercised due diligence in Iiiiancial mattei"s, seeking competitive quotes wheie
expeiiditure was necessary. alld saving considerdbly in dealing with anew insuraiice broker. experienced
lli the needs of Museums. We havc constantly soiigbL through Jonathan Yewdall, grant funding Lo
support 0￿. enterprises, eventually securing a grant froin Museums Development North (MDN) foi.
display interpietation boards. To gene17te income, we aJo eed a modest increase in adniission prices with
oui" partners at Bahamas Locomotive Society (BLS)" aiid w¢ agreed a payment in i'espect of Day Rover
'licket admissions with Keighley & Wortb Valley Railway (KWVR) niore in keepintr with tlie numbers
of visitors we are admirtiLiO to the MuscunL
The fiD&ncial bonus for the ye&. tbougb was the visit of "Flying Scotsman," wlios¢ positioning outside
our prejntses, led to an influx of visitors.
With regard to persollt]el, we welcomed Sheila S￿brook back at thc start of the financial year aftei. a
period of ill heaIth. but we, unfortunately. did Dot bave die benefit of tlie experience and guidance of
cl￿18 Smyth, who suffered one health set back after another. The Trustees decided to award Cliris a
Vice Presidency as a inark of our gratitud¢ for his long service to the T￿￿(.
At the AGM in November. Bob GW￿e, our recenlly appointed Accreditation Mentor, after a thought-
provoking address to ibe meeting, resign¢d to take up a new post at Llangollern The previous month,
Riith Wilson resigned from hcr part-time post as MuseuTll Retail Assistant. but we have continued to
welcome her as a volunteer in th¢ sl)op. An ap￿intMent for her replace]nent was inade to cojiimence
Work ill April 2024, Jolm Astley being selectd. We sliould also note the resignation of Paula Bowkei"
froni the role of Treasurer and acknowledge the professional expertise that she brought to the Tiustee
body.
Possibly the most significant and tangible progress made througliout the yeai", has been completion of
Pbase l of our Museum refurbishment, to budget alld on time. Artefaets have been carefully selected
for display witliin discrete Éhemes. and interpretation panels have been designed (with signifjcant iiiput
froni Paul Holi'oyd) following the professional advice fi"oJTr MDN.
Interpretation panels have been redesigned for the cenlral walkway. and tlianks to the generosity of the
National Science and Media Museum in BradforiL (and the sweated labour of our teaill ol volunleei"s)
wc acquired a set of display cabinets, far younger, and in much better condition than those that had
served us so well previously. As each new cabinet was brought into service, it has acquired relevant
artefacts, with ijit¢rpr¢tation in keeping with the adopted house style. The project was progressed, with
Nvork foi- Phase 2, in January 2024, with further gr<ltit fi]nding support, so the entllt shop side ol.the
Museiim has now been re-clad. Trial displays and interpretation were progressed, and the public were
consulted, so that their feedback would inform ￿tUre work.

VINTAGE CARRIAGES TRUST
TRUSTEESI ANI¥UAL REPOR'ff
¢onlin4ed)
YEAR ENDE.D 31 MARCH 2024
Beyond th2s essfflitial developTnent of our facilities are the re-modelling of toilet facilities, to
accomn]odate the ever iiicreasijig nuinbers of coacli 2nd educational parties, and a Lnorc modei'n Mess
Room to provTde ttse essential brew" tIMt generntes workshop endcavour.
Other iinprovements we have made, whEch may not b¢ immediatcly apparent to tbe casual visitor,
iiiclude..
an inspection of electrical circuits (leading to replacements to meet all safety requiremcnts)
new Sens0￿ fitted in the Mess Room and Engineering Store
new fire doors
new exteiioi" signage
new brackets and flaps for the central walkRvy
inspection of workshop lifting equiptnent
On the Health & Safety Fron( Chris Smith reAiewed his workiug at Iicight qualification. and we are
gratethl to Richard Jones foi. updating our Workshop and Museum Risk Assessments.
Restoration
As was reported in our previous Annual Report, restoration work bas been confined to just two carriages,
Midland 358 and the Cliatham. Two factors have decided this course of action, the first being a limited
iiumber of workshop volunteers. Secondly and significantly, in a timc of financial unccrtainly, when a
degree of protection against fuknre events has to bc taken, the Tn￿teeS have made the decision that no
flllther nem, project should be undertaken in our workshop. The Trustees have made the conscious
decision to redevelop our Museum displayi and to modernise the lilte￿retation of our artefacts to make
tliem relevant Èo the wider range of the public, for whom we now cater. Howevei., Midland 358 did
becotne inore recognisabl¢ with the return of the wheelsets, and their subsequent replacement beneath
the caiiiage body.
With regard to our locomotives, 'Sir Berkeley., a long established favourite at the Middleton Railway,
where it is well cared for by Steve Roberts and his team, neatly bookends tliis ieport. In Apiil, 2023, we
noted tlie com&)letion of the locomotive's overliaul, and its return to niiilling. prior to a fonnal laimch in
June. and in Marcty 2024,"Sir Berkeley" IK)oked as a guest engine at Be￿Ills￿.
Our other viable locomotive, on loan with the Foxfield Railway, "Bellerophon,, lliadc sonic progi.ess
towards tlic repair of its venerable firebox. The Tnistees ll￿de clear to our partner oiganisation tliat there
is finite funding available for this project.
As Cver, we try to be a valued partner OiEanÉsation. and we loaned some Mid1￿]d Railway door handles
to Fioxfield, to enable the manufacture of replicas for one of iheii. projects.
Operations
Our Carriages have continued to be enjoyed by passengers on KWVR, on Vintage Tizins and special
events. Metropolitan Third 465 saw use durtng the Vintage Trains progLamme' whilst agreement with
tlie Embsay and Bolton Abbey Railway was reacbed, to extend Bulleid S1469's period of loan, and it
has provided conifortabl¢ dining and special events accommodation as required.

VINTAGE CARRIAGES TRUST
I'RUSTEES, ANNUAL REPORT I
YEAR ENDED 31 MARCH 2024
FINANCIAL REVIEW
Transactions and Financial Position
The operating surplus for the year was £77,529 (2023 - £38,852) to carry forward to the following year.
The Ti'ustees are very grateful for the gencrous bequests received during tl)e yeaT.
Reserves at the end of the year were £673,136 (2023 - £595,608) including restricted funds of £22,503
(2023 - £19,883), which will be used to fund ￿tL}re activities. Work is still ongoing in bring tlie museu
back up to standard following the long period of Glosure brouglit about by the pandemic.
Reserves policy
Thc Trustees have exan]ined the charity's requirements for reserves in light of the main risk8 to the
organisatlOD and liave estabJisl)ed a policy whereby die unrestricted fvnds not committed or illvested iii
tangible fixed assets lield by the charity should be in the region of 6 months of expenditure, Tn view of,
cuttent econoniic difticulties, which amounts to approximately £70,000. Unrestricted funds are
£650,633 including ￿Xed assets of £443.386. Therefore, the present leTrel of frcc Tcservcs availabIe to
tlic charity is £207,267. During the year thc Charity has invested £52.008 in f￿lI]er refuibishment of
Museuni to further enhance the C.harity's woi"k to the con)niunity.
The charity h&8 impaid volullteers to help run its various activities.
The Tiustees WILL be investing surplus r&8erves in projects that aim to increase the ch￿]ty'S service to
the commwiity.
Principal funding sources
Tlie principal gources of income were: Donations and legacies 540/0 (2023: 42 /), income from visitors
admissions and coach and locomotive hir¢ I l % (2023.. 18 /)" and sales of books, magdzines and relics
and contract woik 33 % (2023= 390/). Investment income 20/0 (2023 - J Q/D
PLANS VOR VUTURE PKRIODS
As ]]as been indicated aboi'e: the Trustees have made the commitEnent to develop our Museutn display.
in the belief that tliis will make our collection rclevant to a wideL- audience, and will contribute to our
tute fmancial security. We note that we have progressed the Forward Plarj 2024-29, and that the
process of updatillg our policies, in readin¢ss for our next Museum
Reaccieditation. is ongoing. Thanks again to Richaid Jones for creating a new and consistent house
style to present each of ourpolicies. In additioll. a good start has been made on modeniising the website,
to encourage access by tbe non-enthusiast browser. Wc concluded last yeavs reporL witli Ibe expression
of hope tliat we rniglit mak¢ progress in our bid to ensure tlie sustainability of our organisation. We
believe that we have acliieved this, at least in parL by judicious recruittnent. In addition, the OtTicers
havc met several times to consider the roles that they currently undertake, and which aTe their key
functions. This should serv¢ to ÈofoiTn decisions to enable contilluity of progress and the sustainability
of our oiEanisation. We hope you agJEe that his very busy peiiod lias genuinely been one of ienewal.

VINTAGE CARRIAGES TRUST
TRUSTEES, ANNUAL RFPORTc¢
YLAR ENDTr.D31 MARCH 2024
The Trustees, annual report was approved on ......... ........
Trustees by:
..21N and signed on behalf of the board of
T R England
Trustee
R L Sprot
Trustee

VINTAGE CARRIAGES TRUST
INDEPENDENI. EXAllItNER'S REPORT TO THE TRUSTEES ofi VINTA.GE
CARRIAGES TRUST
YEAR Eh'DED 31 MARCH 2024
I report to the Trustees on my e￿MInatIon of the financial ststements of Vintage CaiTiages Trust {'tli¢
charity,) for the year ended 31 Mairh 2024.
RESPONSIBILITJES AND BASIS OF REPORT
As the Trustees of the charity you are responsible for the preparation of the financfial statements in
accordanc¢ with the requirements of the Charities Act 2011 ('tlie Act,).
I report in respect of my exan]ination of the charity's financial statements canied oiit under section 145
of the 2011 Act and in canying out my examination I have followed all the applicable Directions given
by the Charity Commission under sectioll 145(5)(b) of th¢ ACL
tNDEPENDENT EXAMtNER'S STATEMEtS'T
I have completed my examination. I confLrnI that no material ll￿tters have come to my atteiition in
connection with the examitlation giving me cause to beliel'e that in any malei.ial EEspeit:
accounting records were not kept in respect of the charity as Ltquired by section 130 of Ibe
tlie financial statements do not accord with those records" or
tlie financial statenients do not comply with the applicable requirements Collcerning tbe form
and content of accounts set out in tlie Charities (Accounts and Reports) Regulations 2008
otlier than any requirement that th¢ accoiints give a 'ttiJe and fate View which is llot a matter
considered &% p￿t of an independent exatttinatiorL
I bave no concerns and Iiave come acro&s no other Tnatter5 in connection with the cxamination to which
attention should b¢ drawn in this report in order to enable a proper understanding of tbe accounts to be
Teached.
MRS E A SHORT FCA
Independent Examiner
Equitable House
55 Pellon IAne
Halifax
HXI 5SP

VINTAGE CARRIAGES TRUST
STAT.EMF.N"r OF FINANCIAL ACTIVtTtES
YEAR EhU)ED 31 MARCH 2024
2024
Restticted
fiuKls Total fund5 Total funds
Unrestricted
fi￿d5
Note
Income and endoivmcnts
Donations and legacies
Cliaritable activities
Other trading activities
Investment income
114,624
23,603
72,551
3,702
2,150
116,774
23,603
72,551
4,172
69,434
30,476
64,722
1,650
166,282
470
Total income
214,480
2,620
217,100
Expenditure
Expenditure on raising fullds:
Costs of otlier li-ading activities
Expenditure on charitable aclivities
I'otal expenditure
33,725
105,847
33,725
105,847
.31,268
96,162
139,572
139,572
127,430
Net iiicome and net movemellt in funds
74,908
2,620
77,528
38,852
Reconciliation of funds
Total funds brougbt forward
Total fuiids earried forwai"d
575,976
l9,633
595,609
556,756
650,884
22.253
673,137
595,609
Tlie stateiYLent of fu]ancial activities includ&s all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The notes on pages 10 to 19 form part of these fInancial statements.

VINTAGE CARRIAGES TRUST
s'rA'I'LMTr;N"I' OF FINANCIAL POSITION
31 MARCH 2024
2024
2023
Note
FIXED ASSETS
Tangible fixed assets
15
443,386
401,717
CURRENT ASSETS
Stocks
Debtors
Cash at bank and in hand
16
17
2,714
6,039
225,710
2,781
22.685
173.427
234,463
198,893
CREDITORS: amounts falling due
within one year
NET CURRENT ASSLI'S
18
4,712
5.001
229,751
193,892
TOTAL ASSETS LESS CURREINT
LIABIL,ITIF.S
673,137
595,609
NET ASSETS
673,137
595,609
FUNDS OF THF. CHARITY
Restricted funds
Unrestricted funds
22,253
650,884
19,633
575,976
Total charity funds
20
673,137
595,609
These fina
cial statements were approved by the board of Trustees and authorised for issue on
ts- and are signed on behalf of the board by:
P4.J
T RF.ryGLAND
TTUStee
R L SPROT
Trustce
The notes on pages 10 to 19 form part of these financial statements.

VllYTAGE CARWAGES TRUST
NOTF.s 'ro THE FINANCIAL s"fATEMEYTS
YEAR EIYDED 31 MARCH 2024
GENERAL INFORMATION
Thc charity is a public bcnefit entity and a registered charity in England and Wales and is
unincoryorated. The address of the principal oifice is Vintage ca￿la(seS Trust, The Railway
Station, Hawortb, Keighley, Wesl Yorkshi￿, BD22 8NJ.
STATEMENT OF COMPLIANCE
These financial statements have been prepared COTnpliance with FRS 102, ￿'he Financia
Reporting Standard applTrcable ID tlie UK and the Republic of treland,, the Statement of
Recommended Practice applicable to cbarities prepai'ing tbeir accoullts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS I02) {Charities
SORP (FRS 102)) and the Charities Act 2011.
AcCOuNT￿G POLTCIES
Basis of preparation
The flnancial statements havc becn prepared oil the historical cosl basis as illodified by tlie
revaluation of certain financial assets and liabilities.
The financial statements are prq)ared in sterling. whicb is the functional currency of tlie eiitity.
Going concern
There are no material uncertainfies about the charity's ability to continue.
Judgetnents and key sources of estAmation uncertainty
The preparation of the financial statements requires managcinent to make judgen]ents, estimates
at]d assumptions that affect the amounts reported. These estimates and judgcmcnts aj'e continually
Tevicwed and are based on experience and otlier factors, including expectations of tutuTe events
that are believed to be reasonabIe under the circun)stances.
Thci'e arc not considered to be any judgements or accounting estitnates or assumptiolls that have a
gi￿lifiCallt llnpact on the f￿￿ncIal statements
Fund aecounting
Unrestticted funds are available for use at the discretion of the I'rustees in furtherancc of the
general objecttves of the Lharity.
io

VINTAGE CARRIAGES TRUST
OTES TO THE FINANCIAL STATEIWENTS {
¢oiiiiuiied)
YEAR ENDID 31 MARCH 2024
ACCOUNTINC POLICIES (coJiiiiiuÉd)
Incoming resources
All income is includcd in thc statcment of f￿ancIal activities when entitlement has passed to the
charity, it is probabRe that tlie economic benefits Issociated viith the ts2usaction wÉll flow to Ihe
cbarity and tlie aEnount can be reliably measured. The following specific policies ar¢ applicd to
particular categories of incon]e:
incoin¥ frotn donatiolls or grants is rccognised when there is evidence of eDtitle]nent to the gift,
receipt is probable and its amouiit can be measured reliably.
income from gOvern￿ent grants is ￿COgnised whai there is reasonable assw?nce that the tn￿t
will comply with the conditions attaching to them and the grants will be received. Grants,
receivable relating to Covid-19 are recognised immediately as income ill the Statement of
Financial Activities. Where applied for and reccived these grants include payments unda. the
Coi"onavirus Job Retention Scheme, CJRS, (￿rIoUgh paytnents) and Small Business Support
Grants.
legacy income is recognised when receipt is probable and entitleinent is esiablishcd.
incotne from doiiated uoods is measured at the fair value of the goods unless this is inipraclical
to measure reliably. in which case tlie value is dciived from the cost to the dollor or the estiEnated
resale vallle. Donated facilities and Servic￿ ar¢ r¢cognised in the accowits when received if the
value can bc reliably mcasured. No amounts are included for the contribution of genet21
volUnte￿s.
income from contracts for the supply of services is recognised with tbe delivery of the cotttracted
service. This is classified as unrcstricled funds unless tli¢re is a contractual requireineiit foi" it to
be spent on a particular purpose and returned if unspent, in which case it may be regarded as
restricted.
Life membership receipts
Subscriptiojis received are credited lo income in full in the year ot"receipt.
Resources expended
Expenditure is recognised on an accruals basis as a liabllity is incurred. Expenditure includes any
VAT wbich caT]notbe fully recovered. and is classified under headings of the stateFnent of financtal
activities to whicb it relates-
li

VINTAGE CARRIAGES TRUST
NOTLS TO THE FINIINCIAL STATEMENTS leonli114ed)
YEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIES (tolllinued)
Resources expended (copjriiiutdj
expenditui'e on raising funds includes the costs. of all fundraising activities, events, non-
charitable trading activities, and the sale of donat¢d goods.
expenditurc on charitsbIe act1viti￿ includes all costs incurred by a cliarity in undertaking
activities that furtlier its cliaritable aims for the benefit of its benefieiaries, including those
support costs and costs relating to the governance of the charity apportioned to charitable
activitics.
other expenditUiE includes all expenditure that is neither related to raisiug funds foi. the chaTity
nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categoi.ies reflecting the use of the resource. Direct costs
attributable to a single activity are allocated dtrcctly to that activity. Shared costs are appojtioned
between the activities they contribute to on a reasonable, justifiable alld consistent basis.
Coach & locomotive repair & restoration work
All costs of Testoration are written off against revenue when paTd Oll the basis that the resto￿tion
Ivork is repailing thc dcleiioration ill the vellicles. It must be ackllowledged tliat there is an elemetrt
of itnprovement to vehicles through this woA(. but no attempt has been made to quantify such
improvemenls after the veliicl&s have initially reached working condltions.
Tangible assets
Tangible assets are initiauy rccorded at cosL and subsequently stated at cost less any accumulated
depreciation and itnpaiiTnent losses.
Depreciltion
Depreciation is calculated so to write off the cost or valuation of all asset, less its residual valuc,
over th¢ useful ccoiiomic life of that asset as follows:
Property
Equipment
20/ts Straiglit line
15 % reducing balance
No depreciation is provided on the Icases aiid iolliug stock as the T￿￿teeS consider that the cutTent
market value of these assets will be in excess of cost.
The charity aims to maintains its carriages and other rolling sto¢k items in full working order, and
all routine maintenance cosL8 are char(red to the Statelnent of Financial Activities wlien incurred.
Carriages and othei Tolling stock items are therefore considered to have indetern]inate lives and
tbe Trustees do not coiisider it appropriate to charge depreciation.
12

VINTAGE CARRIAGES TRUST
L¥OTES TO THE FINANCIAL STATEME[￿s (
YFAR ENDED 31 MARCH 2024
3.ACCOUNTtr%G POLICIES (coMi1K￿¢&)
Stocks
Stocks which cornprise books, tnagazincs and r¢lics, ai"e ineasured at the lower of cost and net
realÈsable vaEue.
'Financial instrulnents
Tlie chaiity only lias finaiicial assets and financial liabilities of a kind that quality as b￿lC financial
instiumeiits. Basic financial instrumenls are initially recognised at tra]Isaction value and
subsequently measured at their settlement value M'ith the exception of bal￿ loans which are
subsequclltly measured at arnortised cost using the effective illterest metliod.
Defined contrAbutioll pl2lls
Contributions to defined contribution plans are recognised as an expen￿ iii the pcriod in which the
related service is piovided. Prepaid contributions are recognised as an asset to the extent thai the
prepayment will lead to a reduction in future payments or a cash refund.
DONATIONS AND LEI GACIES
Unrestricted
Funds
Restricted Total f4unds
Fuiids
2024
Donations
Gift aid tax rcclaimed on donations
Legacies
Membership subscriptions
Adveitising income
17,425
4,298
88,892
3,869
140
2,150
4,298
88,892
3,869
140
114,624
2,150
116,774
Unrestiicted
Funds
Reshicted Total Funds
Funds
2023
Donations
Gift aid tsx reclaimed on donations
Legacies
Membership siibscriptions
Adveitising income
1,387
4,094
39,737
4,478
217
19,521
20,908
4,094
39,737
4,478
217
49,913
19,521
69,434
13

VINTAGE CARRIAGES TRUST
NOTES TO THE FINANCIAL s'fATETrIENTS Icoiiliiiiied)
YEAR ENDED 31 IIIARCH 2024
CHARITABLE ACTIVITIES
Unrestricted Total Funds Urn'estiicted Tota] Funds
Funds
2Q24
Funds
2023
Visitor admissions
KWVR "Day Rover admissions
C02ch and locomotive hire
Other incomc
988
17.061
3,400
2,154
988
17,061
3,400
2,154
762
16,903
10,730
2,081
762
16,903
10,730
2,081
30,476
23,603
23,603
30,476
OTHER TRADING ACTIVITILS
Unrestricted Total Funds Unrestricted Totsl Funds
2024
F￿]dS
2023
Sale of books. maga7.ines, relÉcs, ete
72,551
72.551
64,722
64,722
INVESTMINT ]NCOME
Unrestricted
Funds
Restricted Total lknt nds
Funds
2024
Bank interest receivable
470
4,172
UDrcstricted Rcstricted Total Funds
Funds
Funds
2023
Bank interest receivable
1.539
111
1,650
COSTS OF OTHER TII4DING ACtJVlTIES
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Fwids
2023
Cost of generating tiinds
33,725
33,725
31,268
31,268
14

VINTAGE CARIUAGES TRUST
NOTES TO THE FINANCIAL STATE]WENTS ICOKI
iWUEdJ
YEAR ENDED 31 MARCH 2024
EXPENDITURE ON CHARITABL￿ ACTIVITIES BY AcfIviTY TYPE
Activities
undertaken
dÉrectly Support costs
Total funds
2024
Total fulld
2023
Collection, care and interpretation
Governance costs
34,566
68,670
2.611
103,236
2,611
90,794
5,368
34,566
71,281
105,847
96,162
10. ANALYSIS OF SUPPORT COSTS
Total 2024 Total 2023
Premises
General office
Tiisurance
Coinputei- costs and copier hire
Stationery, printing and postage
Membership fees
Other expenditure
Teleplione
Ncwslettei-
Accountancy
Bank dnd credit card charges
Lcoal and professional
38,488
10,339
9,872
2,022
2,717
491
2,003
992
1,746
1,125
1,486
30,958
5,072
7,537
2,007
3,901
980
1,157
854
1.430
910
1,532
2,926
71,281
59,264
I I. NET IINCOIVI
Net income is stated after charging/(ciediting).'
2024
2023
Depreciation of tangible fixed assets
10,339
15

VINTAGE CARRIAGES TRUST
NOTES TO THE FINANCIAL STATEMENI'S c
comiiiii*d)
YrAR ENDED 31 MARCH 2024
12. INDEPENDENT EXAMINATION FEES
2024
Fees payable to the independent exaininer for:
llldependellt examination of the I-ll￿nCial statements
1,125
910
13. STAFF COSTS
The total staff costs and employe¢ benefits for the reporting period are analysed as follows:
2024
2023
Wage,q and %alaries
Einployer contributions to pension plans
47,728
965
45,653
859
48,693
46,512
Tlie avcrdge head count of employees during the year was 2 (2023: 2). Tlie averdge number of full-
time equivalent employees durittg the year is analysed follows:
2024
2023
Number of staff
No employee received employee benefits of nu)re than £60,000 durtng the year (2023: Nil),
14. TRUSTEE REMUNERATION AND EXPENSES
No remuneration or other benefits froTn employment with the charity or a related entity weiE
received by the Tn￿tees.
Money has been rellnbursed to two Truste￿ in relation to expeDs¢s incurred durkng the year ended
31 March 2024 of £522 {2023 - Nil).
16

VINfAGE CARRIAGES TRUST
NOTES TO THE FINANCIAL STATEMENTS CcoiiliNutdJ
YEAR ENDED 31 MARCH 2024
IS. TANGIBLE FIXED ASSETS
LA)ng
leasehold
property Equipment
Freehold
pmperty
Total
Cost
At l April 2023
Additions
437,669
59,008
717
524,407
52,008
At 31 Mareh 2024
489,677
717
86,021
576,415
Depreciation
AL l April 2023
Cbarge for the yeaT
At 31 March 2024
44,915
9,101
54,016
77,775
1,238
122,690
IOJ39
133,029
79,013
Carrying amount
At 31 March 2024
435,661
717
7,008
443,386
At 31 mai.ch 2023
392,754
717
8.246
401,717
16. STOCKS
2024
2023
Raw materials and consuniables
2,714
2,781
17. DEBTORS
2024
2023
Pi'cpaytnenL8 and accrued illcome
Other debtors
1,148
4,891
1,696
20,989
6,039
22,685
18. CREDITORS: amounts falling due within one year
2024
2023
Accruals and deferred income
Social security attd other taxes
Other ci'editOTS
3,147
415
1,150
4,712
3,497
354
1,150
5,001
17

VINTAGE CARRIAGES TRUST
NOTES J'O THL FINANCIAL STATF.MENTS c
YEAR ENDED 31 MARCH 2024
19. PENSIONS AND OTHER POST RETIREMENT BENEFITS
Defined contril)ution plans
The ￿￿ount rccognised in income or expenditure as an expense in relation to der￿ed contribution
plans was £965 (2023: £859).
20. ANALYSIS OF CHARITABLE FUIYDS
Unrestricted funds
l April 2023
Income Expenditure 31 Mar 2024
General funds
575.976
214,480
(139,572)
650,884
l April 2022
Income Expenditur¢ 31 Mar 2023
General fiinds
556.756
146,650
{127:430)
575,976
Restricted funds
l April 2023
Income EXpendIt￿e 31 Mai. 2024
Bellerophon fiLnd
Midland fi]nd
19,383
250
2,620
22,003
250
19,633
2,620
22,253
l April 2022
h)come Expenditure 31 Mar 2023
BelleToplion fund
Midland fillid
19,383
250
19,383
250
19.633
19,633
Restricted funds relate to donation specifically given toward the restoration of the carriages.
18

VINTAGE CARRIAGES TRUST
OTES TO ITtE FINANCIAL STA'fEMENTS I
YEAR FNDED 31 MARCH 2024
21. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestsicted
Funds
Restricted Total Funds
Funds
2024
Tangible ftxed assets
CiiLTent assets
Creditors less tlian l year
Net assets
443,386
212,210
(4,712)
650,884
443,386
234,463
(4,712)
673,137
22,253
22,253
Unrests'icted
Funds
Restricted Total Funds
Funds
2023
Tangible f￿ed assets
Cunent ass¢ts
Creditor8 less than l year
Net assets
401.717
179,259
(5,001)
575,975
401,717
198,892
(5,001)
595,608
19.633
19,633
22. CUAII4NTEES AND OTHER FINANCIAL COMMITMENTS
The Trustees confinn, in accordance with tIie Charitabl¢ Incorporated Organisation (General
Regulation 2012), tllat at the year end the CIO did not hav¢ any outstaiiding guaiantees to third
partics nor any debts secured on the assets of the CIO.
19

VINTAGE4 CARRIAGES TRUST
MANAGEMFNT INFORMATJON
YEAR ENDED 31 MARCH 2024
The foUowinL Pa￿e5 do not form part of the finallcial statements.
20

VINTAGE CARRIAGES TRUST
DE'fAtLED STATEMENT OF FINANCIAL ACTTVITIES
YEtlR ENDED 31 MARCH 2024
2024
2023
Income and endowments
Donations
Gifl aid tax reclaimed on donations
Legacies
Membership subscriptions
Adi'ertising income
19,575
4,298
88,892
3,869
140
20,908
4,094
4,478
217
116,774
69,434
C112rit2ble activities
Visitoi- admissions
KWVR "Day Rover" admissions
Coach and loc0￿0t1ve hire
Otliei- income
988
17,061
3,400
2,154
762
16,903
10,730
2,081
23,603
30,476
Other trading activities
Sale of books, magazines. relics. etc
72,551
Investment inconje
Bank interest receivable
4,172
1,650
Total income
217,100
166,282
21

VINTAGE CARRIAGES TRUST
NO'fES TO THL DETAILED sTA"fEMK￿,T OF FINANCT AL ACTTVITILS I
YEAR ENDED 31 MARCH 2024
2024
2023
Expenditure
Costs of other trading activities
Purchase of goods & tickets foi. resale
Wages and salaries
Pension costs
Volunteers, reiinbursed ¢xpenses
Advertising and publicity
8,921
22.148
385
1,192
I,Q79
7,559
22,153
341
736
33,725
31,268
Expenditure on charitable activities
Workshop wages
Workshop pension costs
Carriage repairs
Workshop costs in relation to CalTAage repairs
25,580
580
6,371
2,035
34,566
23,500
518
II,2LI
2,310
37,539
Support Costs
Rates and water
Light and heat
secui.ity system and repairs
Insurance
Membership fees
Telephone
Stationery, piinting and postage
Depreciation
Computer and copier hire
Newsletter and Railstory leafiets
Other expenditure
587
17,445
20,457
9,872
491
992
2,717
10,339
2,022
1,746
2,002
1,089
17,356
12,513
7,538
338
854
3,953
2,007
I,430
1,105
68,670
53,255
Governance costs
Governance costs - accountancy fces
Governance costs - legal and other professioiial fees
Bank and credit cai'd charges
1,125
910
1,486
I,532
2,611
5,368
Expenth'thre on charitable activities
139,572
96,162
Net income
77,528
38,852
22