,1000 VINTAGE CARRIAGES TRUST UNAUDITED FINANCIAL STATEMENTS 31 MARCH 2025 Charity Registration Number: 1156931 Streets.
VINTAGE CARRIAGES TRUST FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 PAGE Trustees, annual report ITJdependent examiner's report to the Trustees Statement of financial activities Statement of fmancial position Notes to the financial statements
VINTAGE CARRIAGES TRUST TRUSTKESI ANNUAL REPORT YEARENDED 31 MARCH 2025 The Trustees present their report and the unaudited financia] stateTnents of tlie charity for theyear ended 31 March 2025. REFERENCE AM) ADMINISTRATIVE DETAILS Registered charity name Vintage Carriages TrSt Charity registration number 1156931 Principal office The Railway Station Haworth Keighley West Yorkshire BD22 8NJ England The Trustees D Cullingworth T R England DNCarr S A Seabrook l B S1th R L Sprot S Astley R J Taggart D J Cross A S Haley K A Carlton P Yewdall R Wilson (P&ssed away 30 October 2024) (Appointed 9 Novembet 2024) Banker CAF Bank 25 Kings Hill Avenue Kings Hill West Malling Kent MEI 9 4JQ IDdependeDt examiller Mrs E A Short FCA Equitable House 55 Pellon tAne Halif&x HXI 5SP
VINTAGE CARRIAGES TRUST TRUSTEES, ANNUAL REPORT (conliwMe41 AR ENDEI) 31 MARCH 2025 STRUCTURE, GOVERIYAJ¥CE AND MANAGEMENT Governin[ document Vintage Carriages Trust is a Charitable Incorporated onIsatiOn (CIO), registered charity No. 1156931 and is governed by its constitution. Governance and m8nagemellt The overall Tesponsibility for Vintage CrIageS Trust rests with the Trustees of the charity. RecruitmeDt and appointment of Trustees Trustees are elected by membership at the Annual Meeting and are recnJited to address a specific needs of the organisation. Trustee Induetion and Training Induction of Trustees ss latgely through infonnal di5CUSSiOD Wlth new recruits. Trustees are supplied with an agreed policy defining the Tustees, roles and responsibilities together with a copy of the constitution. Risk MaDagemellt The Trustees have assessed the major risks to which the charity is exposed. Where appropriate, system5 and procedures have been established to mitigate the risks the charity faces and additional policies are being put in place where require Internal risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures are kn place to ensure compliance with health and safety of members and volunteers and visitors. OWECTIVES AIqD ACTIvfTIES To educate the public through the establishment of a railway museum and to acquire and preserve railway carriages, railway locomotives and other items of rolling stock and associated equipment. Restore and maintain svch items, house them and put them on display, loan or hire them so that they may be used if practicable, and make suitable arrangements for their continued preservation as far as P055ible. To sponsor the publication of books, articles etc. containing infonnation abolrt these items and rolling stock and railways gencrdlly. and otherwise to promole interest in these subjects.
VINTAGE CARRIAGES TRUST TRUSTEES, ANNUAL REPORT( coMiMutdJ YEAR ENDED 31 MARCH 2025 ACHIEVEMENTS AND PERFORlItANCE General The Annual General Meeting on 9th November 2024 saw the election of Debbie Cross as chairman, taking th¢ reins as the fIfth cliairman in tlie nearly sixty-year history of VCT. Witli Debbie's immediate predecessor, Trevor England, seTh'ing for thity years. Trustees eommend his work in supportiiig Vcrs developnient over the decades. Dave Carr also stood down frorn the secretaws role after eigliteen years, handing over the baton to Kad]arin¢ Carlton. Thank you to both Trevor and Dave for their years of sterling service and continued 5UPPOrt. Immediately after the AGM, t>ave Carr, Sheila Seabrook and Ruth Wilson were co-opted to the Board of Trusfres for one year at the subsequent Trustees, meeting. In ternis of personnel, after three years with VCT, Richard Jones left Ingrow to start a new role as Operations Manager atthe Llangollen Railway. In addition to his front-of-house role, Richard undertook 'behind-the-scenes' duties, such as writing policy docuTDents and risk assessments. We have welcomed Chris Hale}, to join John Astley, looking after the shop and museum. VCT Trustees are saddened to report the deaths ofTrustee Sarah A5tley. fornier employee Keith Pitts and founding member and fornier chainnan, Tony Cox. Their contributions to VCT were invaluable and they will be deeply missed. In a challenging economic enviroment. financial matters continue to be of concern, with competitive quotations sought for insurance renewals and from suppliers. A small team continue to seek grant funding from appropriate sources and income is generated from shop sales, especTally confectionery, rnilwayana and model railway sales. VCT'S partnership with the Bahamas Locomotive Society (BLS) and the Keighley and Worth Valley Railway (KWVR) remains key to ticket and Rail Story income. We received just over 14,000 visilors during the year, down from the highs of the previous year where the numbers were boosted by a one off by the visit of 'Flying Scotsman, positioned just outside the Museum. However, the good news is that our visitor numbers are back to the same levets we enjoyed before the Covid pandemic. Museum The most visible prOg5S made this year has been the continuing museum refurbishment. The entire 'shop' side of the museum was refurbished on time and on budget by late 2024. Anecdotally, visitors are spending more titne looking at the displays and interpretation panels. January l February 2025 saw the recladding of three bays on the 'rail' side of the museum and the viewing area above the workshop. The museum t]oor was atso repainted and visitors have commented on the fresher, brighter appearance of the museum. Trustees wish to thank aIl those who have contributed to the redisplay work. The collections team have also been busy identifying objects for conservation work. After many years in storage, 'The Waverley, carriage board w&5 cleaned and cOnsered at Graham Key's studio and is now on display in the niuseum. VCT was also successful in securing a grant from The Pilgrim Trust for the stabilisation. cleaning and conservation of The Bradshaw Map. whiclL whilst on display, was difficult to see due to yellowing varnish and mould. This is being treated at Artworks Conservation and will be back on display alongside the Scarborough timetable Scroll.
VINTAGE CARRIAGES TRUST TRUSTEES, ANNUAL REPORT YEAR EfsDED 31 MARCH 2025 The team have also taken deliverv of environmental monitoring equipment which will help support preventive conservation and demonstrate compliance with professional standards or grant requirements. Behind the scenes, work continues in preparation for Museums Accreditation. On 7th February 2025, Museums Development North visited Ingrow for an Organisationa] Health Check covering governance, financial plannin& audiences and collections care. The Trustees are pleased to report that Vintage iages TrSt wa8 given a p)sitive result in all categories. Coaches SR Chalham 3554 w&8 completed in late 2024 and took part in the KWVR gaIa in October along with Metropolitan 509. The KWVR also used 509, 3554 and kfetropolitan 465 during the March gala weekend. Work continues on Midland 358 which is progressing well thanks to Chris Smith, Bulleid S1469 is used at Embsay on occasional services under the care of Rob Shaw and Aaron Marsden. comotiv Sir Berkeley took part in the Heriiage Railway association (HRA) 'Whistle Up, event on New Year's Day, marking the beginning of the Rail 200 celebration5. Under the SUryiS1orj of Steve Roberts and his team, Sir Berkeley has been working at the Middleton Railway and May travel to other heritage lines in future months. Bellerophon continues to undergo boiler work at the Foxfield Railway and Lord Mayor remains a popular visitor attraction in the museum. These ongoing endeavours refleCtt Trustees, ambition to honour the legacy of those who have shaped VCT'S history? while embracing new opportunities to inspire and educate future generations about the unique heritage embodied Én its rolltng stock. FINALYCIAL REVIEW Transaction5 and Financial Position The operating sulUS for the year was £1,503 (2024- £77.529) to carry fonvard to the following year. The Trustees are very grateful for the generous bequests received during the year and extend their gratitude to the families. Res¢rves at the end of the year were £674,639 (2024 - £673,136} including restricted funds of £22,829 (2024- £22,253). which will be used to fund future activities. Work is still ongoing in bring the museum back up to standard following the long IriOd of closure brought about by the pandemic. ReservL8 poIi¢y The Directors have examined the charity's requirements for reserves in light of the main risks to the organisation and have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charlty should be in the region of 6 months of expenditure. in view of current economic difficulties, which amoLfftts to approxtmately £69,000. Unrestricted funds are £651,810 including fixed assets of £460,637. Therefo, the present level of free reserves available to the charity is £191,173. During the year the Ch8Tity has invested £25,991 in further refurbishment of atnellities to further enhanc¢ the chIty'S w(Yk to the community.. The charity has unpaid volunteets to help run its various activities. The Trustees will be investing surp1% reserves in projects that aim to increase the charity's service to tbe community.
vIwrAGE CARRIAGES TRUST TRUSTEES, ANNUAL REPORT (<onilnut41 YEAR 31 MARCH 2025 Prlnclpal fllndtng sources The principal Soufces ofillcome were: DonatioDS and legacies 41 % (2024 -54Yo), income from visitors admissions and coach and locomotive hire Ilyo (20?J _ I IO/)" and sales of books, MazIneS alldrelics ard contsa¢t work44ts/0 (2024 - 33°A), Ve81cllt income 40/0 (2024- 2Yo). PLANS FORFUTURE PERIODS As has been mdÈcatrd' above, tbe TteeS have rnade the conllnibneryt to dsvelop owmuseum display, in the b¢li¢f that this ivill make our ctsllection fflevallt to a wider audieDC2. and will coiitribute to our filture financlal security. We note that we have progr¢5sed the Forward Plan 2024-29. and tbat the process of updating our policics. irL readiness for our next DAuseum Re-accreditatIo is ongoing. Thallks agaio to Ric]]ard Jones for creating a new and coDsi8t¢nthDuse 8ty16 to present eaGh of ourpojicies. In additioo, *:goDd start has been mad¢ on rnod¢rni5ing the website, to encourng6 access by the llon- enthusiastbrowsBr. We concluded13St yeaes reporL with the cxpression of Ip¢ tbat we misbt Tnake wogtess ill our bid to sllre the sllstaitiabiiity of our Organisation. We Ee]ieve that we h&ve Achieved this, at least ill pllrt, by judicions reoustmenL In additio the Offlcers have met severdl limes to consider the rol&s that they currently undertake, and which are their key fiCtionS. This.should serve to iDfotm decisions to ¢nable contittuity of progress and the sustainability of our organisation. We bope you agree that this verybusy period has Une{Y beenone of tsnewaL The Tru5te&s' aunual report Was 2pproYed on .. ..... .. Tntee$ by: d signed on bebalf of tELe board of T RENGLATrID TNstee EL4J- RL SPROT Tntee
VINTAGE CARRIAGES TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF VINTAGE CARRIAGES TRUST YEAR ENDED 31 MARCH 2025 I report to the Trustees on my examination of the financial statements of Vintsge Carriages Trust cihe chai'ity,) for the year ended 31 March 2025. RESPONSIBILITIES lD BASIS OF REPORT As the Trustees of the chlty you are responsible for the preparation of the financial statements in accordance with the requirements of the Cftwities Act 2011 ('the Act')- I report in respect olrny examination ofthe charity's financial statements carried out under section 145 of the 2011 Act and in carrying out tny examination I have followed all the applicable Directions given by the Charity Commission under section 145(5Xb) of the Act. INDEPENDENT EXALItINER'S STATEMENT I have completed my ekimination. I confirni that no material matters have come to my attention in connection with the exatnination giving me cause to believe that in any material respect: accounting records were not kept in respect of the charity as required by section 130 of the the financial statements do not accord with those records: or the financial statements do not comply with tbe applicable requirements ¢onc¢rning the forni and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a'true and fairf view which 15 not a matter considered &s part of an independent examinalio I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Mrs E A Short FCA Independent EKqminer Equitable House 55 Pellon Lane HaEifax HXI 5SP
VINTAGE CIUUUAGES TRUST STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2025 2025 Unrestricted Restricted funds funts Total funds Total funds 2024 Note Income and endowmeDts Donalions and legacie5 Charitable activities Other trading activities Investment InMe 57,650 15,031 61,538 4,560 57,650 15,031 61,538 5,087 116.775 23,603 72,551 4,172 526 Total ineon)e 138.779 526 139,306 217,101 Expenditure Expenditure on raising fi]nds: Costs of other trading activilies Expenditure on charitable activities TotaI expenditure 35,691 102.111 35,692 102,111 137,803 33,725 105.847 137.802 139,572 Net income 977 526 1,503 77,529 Transfers between funds (50) 50 Net movement An funds 927 576 1,503 77,529 Reconciliation of funds Total funds brought forward Total funds carried forward 650.883 22,253 673,136 674,639 595,608 65l,810 22,829 673.136 The statement of financial activities includes alt gains and Rosses reCOlsed in the year. All income and expenditure derive from continuing activities. The notes on pages 9 to 18 form part of these financial statements.
VINTAGE CARRIAGES TRUST STATEMENT OF.FINANCIAL POSTrIoN 31 NL fARCH 2025. 2025 2024 Note IXET) ASSETS Taogible fixed assets Is 460.637 443,386 Stocks Debtors Casb aibank 2nd inhand 16 17 1852 9.022 208,625 2,714 6.039 225,709 234,462 220,499 CREDrfoRS" amDullt&falllng due Ivithin one year NET CURRENf ASSETS 18 6,497 4,712 214,002 229,750 TOTAL ASSETS LESS CURR LIABILITIES NET ASSETS 674,639 674.639 673,136 673,136 FUNDS OF TBX CK4RrtY R£stucted funds UDrestricCed funds 22,829 651.810 674,639 650,883 673.136 Total ch2rity funds 20 . financial 5taternents we. approved by the board of. T[St alld autlrISed Eor issue on .. and 3r¢ $i2d oll behalf of the boardby: T RENGLAND Tntee RLSP TTUStee OT The notes on pages 9 to 18 form p.art of these financial 5ta¢ements.
VINTAGE CARRIAGES TRUST NOTES TO THE FINANCKAL STATElktENTS YEAR ENDED 31 MARCH 2025 GENEIL4L INFORMATION The charity is a public benefit entity and a registered charity in England and Wales and is incorporated as a CTO. The address of the principal otrice is Vintage Carriage5 Trust, The Railway Station, Haworth, Kcighley. West Yorkshire, BD22 8NJ. STATEMENT OF COMPLIANCE These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statemeiit of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011. ACCOuNTG POLICIES Basis of preparation The fanCIal statements hav¢ becn prepared on the historical cost basis as modified by the revaluation of certain financial assets and liabilities. The financial statements are prepared in sterlin& which is the functiona] currency ofthe entity. GoiDg concern Thcre are no rtterIal uncertainties about the charity's ability to continue. Judgements and key sources ofestimation uncertainty The preparation of the fmancial statements qUireS management to make judgements, estimates and a&sumptions that atrect the amounts reported. These estimates and judgements are continually reviewed and are b&%ed on e.¥perience and other factors, including expectations of future events that are believed to be reasonable under the circurnstances. There are not cotLSidered to be any judgements or accounting estimates or assumptions that have a significant impact on the financRal 51atements Fllnd aecounting Unrestrtcted funds are available for use at the discretion of tbe Truslees in furtherance of the general objectives of the charity.
VINTAGE CARRIAGES TRUST NOTES TO THE FINANCIAL STATEMENTS(e JiliNMed) YEAR ENDED 31 MIIRCH 2025 ACCOUNTING POLICIES Incoming rOUrCeS All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic nefits &ssociaÉed with the traactIOn will flow to the charity and the amount can be reliably mred. The following specific policies are applied to particular categories of incoffie-. income from donations or grants is recogDised ivhen there is evidence of entitlement to the gift, receipt is probable and its amount can be Mred reliably. income from government grants is reeognised when there is reLsonable assurance that the trust will comply with the conditions attaching to them and the grants Nvill be received. legacy income is reColised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical lo measure reliably, in ivhich case the valu¢ is derived from the costto the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts ate included for Éhe contribution of general volunteers. income from contracts forthe supply of services is recognised withthe delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unsFnt, Én which c&se it may be regarded as restricted. Life membership receipts Subscriptions received are credited to income In full in the year of receipL Resourees expended Expenditure is recOlSed on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered. and is cla&sified under headings of the statement of financial activities to which it relates.. 10-
VINTAGE CARRIAGES TRUST NOTES TO THE FINALNCIAL STATEMEIYTS IconllnNedJ YEIIR KNDED 31 MARCH 2025 ACCOUNTING POLICIES (coi#inMeJJ Resaurces expended (eonliftri¢d) • expenditure on raising funds includes the costs of all fundraising activities, evenls, non- charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that furthcr its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising fun<ls for the charity nor part of its expenditure on Chitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs aTe apportioned between the activities they contribute to on a reasonable, justifiable and COTLSiStent basis. Coaeh & locomotive repair & restoration work All costs of restoration are written off against revenue when paid on the basi5 that the Testoration work is repairingthe deterioration inthe vebicles. It must be acknowledged that there is an element of improveEnent to vehicles through this work, but no attempi ha5 been made to quantify such improvements after the vehicles have initially Teached working conditions. Tangible assets Tangible &ssets are initially recorded at cosL and subsequently stated at cost less any accumulated depreciation and impairment losses. Depreciation Depreciation is calculated so as to write offthe cost or valuation of an &sseL less its residual value. over the useful economic life of that asset as follows: Property Equipment 15Yo reducing balance No depreciation is provided on the leases and rolling stock as the Trustees consider that the current market value of these assets will be in excess of cost. The charity aims to maintains its carriages and other rolling stock items in full working order, and all routine maintenance costs are charged to the Statement of Financial Activities when incued. Carriages and other rolling stock items are therefore considered to have indeteminate Rives and the Trustees do not consider it appropriate to charge depreciation. li
VINTAGE CARRIAGES TRUST IYOTES TO THE FINANCIAL STATEMENTS (contiNi) YEAR ENDED 31 IWICH 2025 ACCOUNTIP4G POLICIES (conlJnuedJ Stoeks Stocks whicl) comprise books, magazines aixi relics, a measured at the lower of cost and net realisable value. Financial instruments The charity only h&$ financial assets and financial liabilities of a kind that qualify as basic financial instn)ments, Basic financial instruments are initially recognised at transaction value and subsequently roeasured at their settlement value with the exception of bank loans which are 511bsequently measured at aortiSed cost using the effective interest method. Defined contribution plan5 Contributions to defined contribution plans are recognised as an expense in the period in wliich the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment wtll lead to a reduction in future payfflents OT a cash refund. DONATIONS AND LEGACIES Unrestricted Funds Restritted Total Funds Funds 2025 DONATIONS Donations Gift aid tax reclaimed on donations 17,021 3.848 17,021 3,848 LEGACIES Legacies 12,777 12.777 GRANTS Grants receivable 21,500 21,500 SUBSCRIPTIONS Membership subscriptions 2,361 2J61 OTHER DONATIONS AND LEGACIES Advertising income 143 143 57.650 57,650 12
VINTAGE CARRIAGES TRUST NOTES TO THE FINANCIAL STATEMENTS ( YEAR ENDED 31 MARCH 2025 DONATIONS AND LEGACIES (coniin4¢19 Unrestricted Funds Restricted Total Funds Funds 2024 DONATIONS Donations Gift aid tax reclaimed on donation5 17,425 4298 2,150 19,576 4,298 LEGACIES Legacies 88,892 88.892 GRANTS Grants receivable SUBSCRIYfioNS MembeJship subscriplions 3,869 3.869 OTHER DONATIONS AND LEGACIES Advertising income 140 140 114,624 2,150 116,775 CHARITABLE ACTIVTfIES U[eStrIcted Total Funds Unrestricted Totsl Funds Funds 2025 Funds 2024 Visitor admissions KWVR "Day Rover" admissions Coach and locomotive hire Other income 1,924 3,310 9,400 397 1.924 3JlO 9,400 397 988 17,061 3,400 2,154 988 17,061 3,400 2,154 15,031 15,031 23,603 23,603 OTHER TRADING AcfIviTIES Unrestricted Total Fund8 Unrestricted Total Funds Fun(Ls 2025 Funds 2024 Sale of books, magazines, relics, etc 61,538 61,538 72,551 72,551 INVESTMENT INCOME Unrestricted Funds Restricted Total Funds Funds 2025 Bank interest receivable 4,560 526 5,087 13
VINTAGE CARRIACES TRUST NOTES TO THE FINANCIAL STATEMEKfs ( YEAR ENDED 31 MARCII 2025 INVESTMENT INCOME fconlirtue Unrestricted Funds Restricted Total Funds Funds 2024 Bank interest receivable 3,702 470 4,172 COSTS OF OTHER TRADING ACTIvrrIES Unrestricted Total Fun(is Unrestricted Total Flind5 Funds 2025 Funds 2024 Cost of generdting funds 35.691 35,691 33,725 33,725 EXPENDITURE ON CRABLE ACTIVITIES BY ACTIvrrY TYPE Activities undertaken directly Support costs Total funds 2025 Total fund 2024 Collection, care and interpretation Governance costs 37,444 59,816 4,851 97,260 4,851 I03,236 2,611 37,444 64,667 102,111 105,847 10. ANALYSIS OF SUPPORT COSTS Total 2025 Total 2024 Premises Depreclation Insurance Computer costs and copier hire Stationery, printing and Stage Membership fees Other expenditure Telephone Newsletter Accountancy Bank and credit card charges Legal and professionaj 26J69 11,051 5.724 1.575 6,942 694 5J66 lJ41 754 1,940 1,851 1,060 38,488 10,339 9,872 2,022 2,717 491 2,002 992 1,746 1,125 1,486 64,667 71,280 14-
viwrAGE CARRIAGES TRUST NOTES TO THE FINANCIAL STATEMENTS(conlillHed) YEAR ENDED 31 MARCH 2025 11. 1¥4ET INCOTr Net income is stated after charginyJ(crediting): 2025 2()24 Depreriation of tangible fixed assets 11,051 10,339 12. INDEPENDENT EXAMINATION FEES 2025 2024 Fees payable to the independent examiner for: Independent examination of the financial statements 1,940 1.560 13. STAFF COSTS The total Staff costs and etnployee benefits for the reporting period are analysed as follows.. 2025 2024 Wages and salaries Employer contributions to pension plans 53,634 1,098 47.728 965 54,732 48,693 The average head count of employees during the year was 2 (2024: 2). The averdge number of full- time equivalent employees during the y&2r is analysed as follows: 2025 No. 2024 No. Number of staff No employee received employee benefits of more than £60,000 during the year (2024: Nil). 14. TRUSTEE REMUNERATION AIYD EXPENSES No remuneration or other benefits from employment with the charity or a related entity weie received by the Trustees. Money has been reimbursed to two Trustees in relation to expenses Incued during the year ended 31 March 2025 of £622 (2024 - £787). 15
VINTAGE CARRIAGES TRUST NOTES TO THE FINANCIAL STATEMENfs (477nrf•¥ed) YEAR ENDED 31 MARCH 2025 15. TANGIBLE FIXED ASSETS Long leasehold property Equipment Freehold property Total Cost At l April 2024 Additio]JS 489.677 25,991 717 86,021 2,311 576.415 28J02 At 31 Marcb 2025 515.668 717 88,332 604,717 Depreciation At l April 2024 Charge for the year At 31 March 2025 54,016 9.792 79,013 1,259 133.029 11,051 63,808 80,272 144,080 Carrying amount At 31 March 2025 451,860 717 8,060 460,637 At i l Marcli 2024 435,661 717 7,008 443,386 16. STOCKS 2025 2024 Raw materials and corLsumables 2,852 2,714 17. DEBTORS 2025 2024 Prepayments and accrued income Other debtors 4,194 4,828 J,148 4,891 9,022 6,039 18. CREDrroRS: amounty falling due Ivithin one year 2025 2024 Accruals and deferred income Social security and other t&xe5 Other creditors 5.114 186 1,197 3,147 415 1,150 6,497 4,712 16
VINTAGE CARRIAGES TRUST NOTES TO THE FINIINCIAL STATEMENTS (rnntinuedj YEAR E[ED 31 MARCH 2025 19. PENSIONS AIqD OTHER POST RETIREIVIENT BEIYEFrrs Defined Contribution plan5 The amount recognised in income or expenditure as an expense in relation to defined contribution plans W&5 £1,098 (2024: £965). 20. ANALYSIS OF CHARfiABLE FUNDS Unrestricted funds At l Apl 2024 At Transfers 31 Mar 2025 Income Expenditure General funds 650,883 138,779 (137,802) (50) 651,810 At l ApK 2023 At Transfers 31 Mar 2024 Income Expenditure General funds 575.975 214.480 (139.572) 650.883 Restricted funds At l Apl 2024 At Transfers 31 Mar 2025 Income Expenditure Bellerophon fund Midland fund 22,003 250 526 50 22,579 250 22,253 526 50 22,829 At l Apl 2023 At Transfe 31 Mar 2024 Income Expenditure Bellerophon fund Midland fund 19.383 250 2,620 22,003 250 19,633 2,620 22.253 RestrÉcted funds relate to donation specifically given toward the restoration of the carriages. 17
VINTAGE CARIUAGES TRUST NOTES TO THE DETAILED STATEMENT OF FINANCIAL ACTIVITIES ( vlin4erf) YEAR ENDED 31 MARCH 2025 21. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Funds Restricted Total Funds Funds 2025 Tangible fixed assets Current assets CreditOTS less than l year Net assets 460,637 197,670 (6,497) 651,810 460,637 220,499 (6,497) 674.639 22,829 22,829 Unrestricted Funds Restricted Total Fund5 Funds 2024 Tangible fixed assets Current assets Creditors less than l year Net assets 443.386 212,?09 (4,7l2) 650.883 443,386 234,462 (4,712) 673,136 22.253 22,253 22. GUARANTEES AND OTHER FllYANCIAL coMTmENTs The Trnstees confirni, in accordance with the Charilable Incorporated Organisation (G¢neral Regulation 2012). that at the year end the CIO did not have any outstanding guarantees to third parties nor any d¢bts secured on the assets of the CIO. 18