FURNESS RAILWAY TRUST
Regstered Charlty No. 1163OT3
2024
Trustees, Annual Report and Accounts

FURNESS RAILWAY TRUST
(Registered Clwity No. 1163OT3)
AddTe&8 for correspondence:
Meadowside,
105, Station Road.
Cark-in-cartmel.
Grange-over-sands,
Cumbria
I￿17Ny
Annual Report of the Trustees for 2024
i. Governance and Admirikntion
The business of the Furness Railway a Charitable Incorporated
Organisatioll (CIO), is Managed by Ththes in accordance with a CO￿￿titution
approved by the Charity Commission. The Chairnian is responsible for
coordinating the day to day management of the affairs of the Trust. One third
of the Trustees retire at each Annual General Meeting. in accordance with the
constitution. A briefing d￿Ument is given to new Trustees, ithich outlines the
history of the Trust and its eurrent obligations. The document also details the
reS￿n8]b]I1ti￿ of Trustees as defined by the Charity Commission.
The Trustees meet on a numlxr of (wsions throughout the year in order to
manage the Trust's affairs and to agree requirnl courses of action.
The accounts (financial statemenLs) have been prepared in accordance with
the Statement of Recommended Practiee: Accounting and RetKJrting by
Charities preparing their accounts in accordanLE with thc Financial Reporting
Standard applicable in the UK and Republic of Financial Reporting Standard
102, effective from ist.January 2019, and with the Charities Act 2011.
The Trust's banker is The Co-operative Bank, PO Box 250, Southway,
Skelmersdale WN8 6T￿. Savin&s accounts are is also held with the Furne&8
Building kniety, Emlyn Hughes House, Abbey Road, Barrow-in-Furness,
tAI4 5PQ, and the Nationwide Building Society, Kings Park Road. Moulton
Park, Northompton, NN3 6NW. The Trust is regi&tered to Tecclve Glft Ald.
The Trust's Independent Examiner ig J. Priestley Ac￿ CG￿ 24
Scarlx)rough Road, SL Annes, Lytham SL Annes, Iancashire 3ES
2. Trustees and ConAmittee Members
The following were the appointed Trustees of the Furness Railway Trust
durAng 2024:
P. Balshaw
Brewer
J. Dixon
J.M. Kay
Middleton
S. Middleton
T.D. Owen (Chairnlan)
AM. RLgg
N.IL Smith luntil 0411.24)
P. van ZEller
Page l of 4

The alx)ve (exc]uding Mr. Smith) were re8PK)Dsible for preparing and
approving this reporL
3. Objeetives and Artivities
Asummary of the Object and Powers of the Furn￿ Railway Trust is attached
as Appendix A at the end of this rewrt.
The principal aetivities of the Furness Railway Trust (FRT) during 2024 were
the acquisition, restoration and operation of historie items of rolling stock.
The Trustees worked to address the long terni objective of the establishment
of a rdilway museum, with appropriate facilities for the display. storage and
restoration of railway rolling St(￿ and a$S(￿lated equipmenL
In shaping the Trust's objectives, the Trnstees gave due consideration to the
Charity Commission's guidance on public benefit with the object of advancing
edueation througb iLq worK ly)th in the short and longer term. The Trustees
also took into aecount the need to maximise public accessibility to its assets,
some of which are unique and of maior histori￿ imp)rtanee, including
affordability wherever po&8ible.
4. Achievements and Performanee
The Furne&s Railway Trust on(* again made an impact in new are&s of the
country with the succes￿1 visits of Furness Rai]way locomotive No. 20
(Britain's oldest working standard gauge locomotive) to the West Somerset
Railway, to commemorate the 150th anniversary of the opening of the Watchet
to Minehead Rallway, and to the Fast tancashire Railway for its Autumn
Steam Gala. Both events received very positive press wverage and cnabled
this unique locomotive to be seen in action by new audiences. The locomotive
was also in action durin8 the year at its home base. the Ribble Steam Railway
at Preston. The Thist'8 other operntional locomotive, Hunslet'Austerity' 0-6-
OST locomotive. Cumbria. continued to be on hire to the Embsay & Bolton
Abbey Steam Railway where it steamed on 71 (￿S10￿S during 2024.
The main project for the Trust's working members was the continuing
overhaul at Preston of Great Wo8tern Railway 0-6-2T locomotive No. 5643.
The cleaned and painted cha&sis has now been lowered back onto its
wheelsets and the pn)cess of re￿emblY will Commen￿ in 2025 once
specialist contractors have fitted new cylinder linets. The locomotive's f￿eboX
is re￿Iving around 550 new stays with much of this substantial work being
undertaken by volunteers with specialist assistance.
Following a prof￿1onal examination of the boiler of Pcckett 0-4-oST
Caliban, the Th￿eS agre￿ to let a (x)ntract to the West Somerset Railway
for the fitting of a new inner firelx)x. The work will also include undertaking
the necessary work to complete a satisfactory hydraulic test before it returns
to Preston for fitting to the locomotive's frames. The manufarture of a new
water tank has akn commi&sioned IiThlly.
These two projects have once again highlighted the need for the volunteer
workforce to be grown and efforts are Eting made to publicise the work of the
Trust and its volunteering opportunities through I<￿21 and specialist
media as well as through contact with a I(￿ educational establishment,
The restoration of Great Western liailmpy 4-6-0 'HaIl' dass locomotiveNo.
4979 Wootton Hall has continued, albeit slowly given the work talung place
on 5643 and Caiiban. Pipework to the new brake valve bas been installed and
most of the welding on the tender water tank has been completed.
The Great F&8tern Rallway royal sal￿￿ built in 1898 for Princess Alexandra,
which was previously overhauled by Trust members, has proved to be popular
when operated at the Ribble Steam Railway and now brings in a small
Page2of 4

income, as the Trust's other operational o)aeh, the restored secood cl&&$
North London Railway Trusys (xmch which is on hire to the Beamish
The restoration of former Furne&s Railway locomotive No. 25 of 1865 has
again been put on hold whilst r￿ur￿ are collunitted to the other projects
aknve.
The Trustees. annuaj Risks and Vulnerabilities Review continues to identify
the need to attract more volunteers and the T￿￿ will endeavour to grow
the TnL*t's workforce.
All activities ofthe Furn￿8 Railway Th]st are undertaken by volunteers.
There are no paid staff employed by the Trust.
5. Financial Position
Total income, at £69,753, represents a 27% increase on that for 2023,
(£54.901) benefitting from a generous legacy of £10,000 from fonner
Treasurer DaNryd Rimmer and iuereased rolling st￿k hire. iA)comotive hirc is
eX￿tea to decline in 2025 with the temporary withdrawal from service of
locomotive c￿Mbria which is due to commell￿ a ten year boiler overhaul at
the end of July.
Ineome from Other Trading ALtivities almost doubled as a result of increased
opportunities to promote Furne&s RailwayNo. 20 during its visits to other
heritage railways during 2024.
Expenditure on Charitable Activities rose by over 20% in 2024 reflecting
incrcased expenditure on locomotive restordtion and maintenance. The high
level of expenditure in th&se categories is planned to continue during 2025 as
work continues to return 5643, which is 100 years old in October, to
operational condition whilst also funding major repairs to Caliban.
Net eurrent assets rose slightly during the year from £249,195 to £262,994
which puts the TnLSt in a good tx)sition to be able to fund the ongoing repair
of locomotive 5643 as well as other projects.
The hire of Furnoss Railway locomotive No. 20 to other railways during 2024
was the cause of travelling expenses of £818 being incurred, all of whith was
Gift Aided back to the Trust.
6. Reserves Poliey
The Trustees belleve that the Furn￿ Rallway Tr￿t'S current finances
continue to be satisfactory. The￿ is an ongoing need to njaintain an
appropriate level of reserves to provide for future overhauL4 of the Trust's
operational locomotives and coaches. Fundraising will continue primarily for
this purp)se and also to fund the longer tern] restoration projects.
The FRT continues to Ee heavily reliant upon its volunteer Workfor￿ to operate and
to progress projects. Once again. the Truste￿ wish to thank all members and
followers of the FRT for their wntinued suptKJrt 2nd generosity during 2024.
The Thistses declare that they have approved the Th￿te£s, ReFK)rt above.
M,LQ
Tim Owen
Chalrman
th March 2025
Mike Rigg
12th March 2025
Page 3 of 4

Appendlx A
The object of the CIO is to establish a rallway museum for the benefit of the public
alld the CIO has power to do an)thillg to further its objecL in particular, the FK)wer
to".
(a) acquire and preserve railway Icoomotives, railway carriages and other lten￿ of
rolling stock and a&S￿lated equipmenL
(b) restore and maintain such items, hO￿e theni and put them on display. loan or
hire them so that they may be used, if prdeticable, and make suitable
arrangements for their ￿ntIllued p￿SerVatiOn as far as is p)ssible.
(e) swnsor the publication of IKX)k8. artieles etc. containing inforn)ation about
these items and rolling stock and railways generally, and otherwise to
promote interest in these subjects.
(dl Pr(ure eontnl)utions to the Cto by persx)nal or written appeals, public
meetings or otherwise.
(e) employ and remunerate such staff as are netessary for Carrying out the work
of the CIO.
(e) buy, take on lease or in exchange, hire or otherwise acquire any property and
to maintain and equip it for use.
Ig) sell, lease or otherwise dispose of all or any part of the propety belonging to
the CIO.
(h) borrow money and to charge the whole or any part of its property as security
for the repayment of the money borrowed.
Page4of 4

FURNESS RAILWAY TRUST
Registered Charity No. 1163073
Accounts for the 12 Months Ended 31st December 2024
Statement of Financial Activities
2024
2023
Unrestrlctod Unregtrict•d
Fund8
Funds
Notes
INCOMING RESOURCES
3 Incom• and Endowments from:
4 Donalv)n8lLega¢ie8 and Tax Re¢ov•rnble
5 Charitable Activities
6 Other Trading Activities
7 Invo8lments
Other
Totsl Incomln9 RMource•
17,081
45,026
2,287
5.359
11,902
37,438
1.160
4,401
54.901
L088 RESOURCES EXPENDED
8 Exp•ndfturn on:
9 Raislng Funds
IQ Charil8ble Ath'wties
11 Gtsvemance
Totsl R￿Our¢•0 Exp•nd•d
454
60,061
393
318
49,466
369
50,153
N•t In¢¢m•llExp•ndlturo1
8,845
Tr8n8fer8 Bgtsve•n funds
N•t Movgm•nt In Fund•
4,748
R•conelllotlon of Fur*d•
Totsl Fund¥ 8rought FoN4nl
530.866
526,118
Total Fund• C•rrl•d Forvrnrd
0,866
Page 1

FURNESS RAILWAY TRUST
Registernd Chwity No. 1163073
Note$
Balance Sheet as at 31st December 2024
2024
2023
Unre8trict•d Unwtri¢t
Fund8
FundB
Flxed A￿•ts.
13 Tangible Assets
14 Heritsge Assets
Total Flxed A880ts
173,626
106,296
279 922
178,C66
106,296
284.362
Current Assets:
15 Sltxk
16 Debtors
Cash at Bank
Cash in Hand
Total Current A••ot•
11,448
11,011
16,707
8,610
235,833
234,461
60
60
264 IM8 254 142
17 Crodltorn: amounts due wthin one yr.
Not Current A880ts1{LiabllltiH)
2,054
261,994
4,947
249,195
Tot•1 ￿8•ts Curr•nt Llabllttlo8
fA1,918
533,557
17 Crndftorn: amounts due after one yr.
12,2051
12,6911
Total Not A•8•ts
639,711
530 866
Fund8 ofth• Charlty:
Total Funds Brought Forward
Add Net Incoming ReSoUr￿S
Total Fund• *• at 31.12.2024
530,866
8,845
526,118
4,748
539711
530 866
TIM Owen
Chaimian
12th March 2025
Mich•el Rigg
Socrntary
12th 2025
Page 2

FURNESS RAILWAY TRUST
Rezistered Charity No. 1163073
Notes to the Accounts -12 Months Ended 31st December 2023
Bas18 of Accountlng
The a¢c￿jnts are for the nineth fvll yw of opwation of the Chalita￿a Irb))￿)r8l$O Orgaftisalion
Fumess ftai￿y Trust 1163073 whth toc* over thè a86ets and opwations ofthe uninrL*rptsr8ted
Fumess Railway Trust Registered Charty 1005211 from the 1st De¢ember 2015.
The accounts have been prepared in ac￿)rdanCe 7•thh Ihe Statèment of Recommend611 Practice..
Accountln9 and Reporting by Charrties préparin9 their acwjnts in accordance wrth the Finanual
Reporting Standard applicabk in the UK and R8public of Ireland (FRS1021 effective from
1st January 2019, Finano81 Rekwrting st￿dard 102. 8nd the chaiiti.es Act 2011.
The accounis been propared on the baws that the unino)rporated and CIO charil*s have
merged. As defjned In the Statorn8nt ol Recommendad Pra¢li¢e.
Theso arKounls havo been prepared und•r the hIst￿lcOl cost cOn￿ntIon v*rth items racogni84d al
C05t or Irana¢tion value un￿S olheNri89 Stated in the relevant notesls} 10 th8ge acc>)unt8.
The Fumes6 Raihyay Trust eon8titLrt•$ a public t￿ffit entsty a8 dellned by FRS 102
Theso a?￿￿nIS h8v• been prepar•d on fv basis Ihat Ihe Fumess Rai￿•Y Tnffjl is a golng conc8m
8fter18klng into account lh• ¢￿rr9ftt and anb"c¥pa¢•d th18 of aaivrty,
Not¢ I
Note 2
Accountlng Polky
Incom•
Intsjming R980ur¢•8. in¢luding gronts. arn 8cGount8d tr on a {￿e1¥abl¢ basis.
Th¥ value ofdonaled good818 recognlsed onty on 8018 ofthe practirAl￿*S of m•asurfn9
the valu& of such good8.
Good$ donated for tsngolng use by the chaity ar• reco9nised as tangible a88et$ induded In t
Statement of Financial Actlvities a8 incoming resources when r￿1Vab￿.
The value of any voluntary help rtc•ived 1$ not indLwJ8d Sn the aco)unts but is described In tha
TN8t808' Annual Report.
Expendlture
Resources Expen(J8d are ¥¢counted fof on an 8cuuals bA#iY¢ and indtsd• rnco9nibvn ol Il•bilille
arising from18gal or Constwthe obligation whKh c¥)rnmhs the org8nlsab.on to axpendituro.
Certain support costs Ilnsurance and Printing, Statthiery. Postagè) are apportioned betweèn
based, Whe￿ po$8ibl8, ￿ known c08t drivers.
Govem8nce Costs are shtrwn separalety for the purF*)s¢ of darity and, f))nlrary to SORP,
not spread across adivilies b8¢ause they are dfffirajh to allocate a￿1 awe not materfal in svze.
Page 3

Tanglble and fixed assgts for by thfr charlty
A long tem Shed lease. purchased in 2019. 18 being dètxerAated on a Stra￿h1 line basis over ￿ years.
A portable building and fixed safety gear are b￿"Thg depreoated on a straight line basis over 15 years.
Plant and Equipment assets purchased can be for more than year are capitalised
and deprerAated on a straght line ba￿$ at a rate of 25% per annum.
Assets purthased after 1$1 Decemtjer 2015 are onty ¢aWta￿'S￿j rfthey cost £2fyJ ￿ mora.
Herltago AB8ets
Heritage Awts arts sh¢y•m on th• balance sheel at cost ty. in the ¢a8e of donatad items,
a realistic value èstimat￿ at the time of (*)nalion. An exception has been made for
Fumess RaI￿vaY No. 20. buitt 1863. This historic lownotNè is unw4ue, d￿fi￿lIt to value and is not
indudeo,. there ha$ been apprtiximatdy £148.rKo spent on it. Thè Trusi's colle¢l￿n and Disposal
Pollw 8tstes that there'should be a prèsumption agalr￿t disposal." Grant$ r￿e1ve￿ of £111,(
wwld potenbally be repaYa￿e rf thls rtem was sdd.
Stock•
Stocks are valu¥d at the l•sw of cosl or recoverab￿ value.
Dgbtor8
Debtors (Induding trad8 debtOT8 and loans receNablel measured on in￿"3￿ recognrtion al
settlemant amount after any tra(1& discounts. Subsequently they are m&asure4J at th•
ca8h or other Con81derat￿ expecled lo be receNed.
Cr•dltorn
Credrtor8 are M￿ured at transact￿ prke.
f4ote 3
Anaty818 of Ineom•
2024
2023
Unmtrfct•d Unre•trbct•d
Fund•
Fund•
Note 4
Oon•tIo￿ and L•gacle•
Donati'ons and Gifts
Legades
Glft Aid
M&mber8hlp sub8cr1pu￿1
Totsl
10.C
2.213
1,353
11,902
1,332
17,081
Nott S
Ch*rltabl• Actlvltl••
Rolling Stock Hire
Bcx)k Sales
Other Incnme
Totsl
42.528
37.438
45,026
Note 6
Othor Trndlng A¢￿vIlle*
Fundr8ising S8le5
371
21x1
236
353
1.160
293
Donated Gcrtjds
Wothwear
593
2.287
Total
Nots7
Inveskn•nt Incom•
BBnk Interest ReceNed
Total
4.401
4.401
5.359
othgr In¢ome
Total
Page 4

Note 8 Analy8ls of Expenditurn
2024
2023
Unrestricted Unrestrleted
Funds
Fund8
Note 9
Exp•nditur• ¢n Ral$ing Fund•
Sales Goods
Insurance
Sundries
313
260
97
Totsl
318
Not• 10 Expendituro on Ch4rltabl• Actlvltl••
Locomoti￿ Restoration
Locomotive RepairNa"ntenanc
Coach R¢8toration
Building Maintenan
Transp￿r?neage Costs
Magazine PublI￿tiOn
Insurance
17.977
22,871
555
158
10,529
18,196
4,669
532
750
1.010
4,278
1,050
5.049
2.460
Membgrship Subscriptions
Travelling Expgnse8
Pèrsonal Safety Equipm•nl
Wwkwear
Printing, Statlortry. Postsge etc
Books
DeprO￿atIon of Flxed A888ts
Totsl
Note I l Govgmanc• Co•t•
Independoftt Examination
Printing, Statsonery, Po8ts9• etc
Totsl
170
1,325
73
225
249
818
22
23
4.785
60.061
5,095
49,466
250
143
393
240
129
389
Noti 12 Exp•ndlturn D¢tsll•
Insurance, 8mounting to £5,093 w88 kxJrch88ed1£4.336 In 2￿23) Wh￿ indud•8 propety and publlc
liability insurance for certain I￿l¥lti0$ (Induding fund$ gInw￿OnI und•rtaken by the Tru8t,
It$ Trustees and Member8
The work of the charity in re8torfng. maintainlng 8nd a88isling in ts operalkn of tt8 088ets
Is, in the main. carried out by volunteers vAlh only wialist ac*"vrb'e8 c¢ntT8thd out.
No staff were employed in either 2024 or 2023.
No f¢e for the Ind&pendent Examination ol the 2024 aCfX)unts has been induded. The cost
ol •x•mining th• 2023 OC#Jwn¢¥ Yma £230 wnich ts In¢Juaea In me ZQ24 accounts.
Note 13 T•nglbl• Rx•d A••ets
2024
2024
2024
Bulldlng Mess R¢)oml
Plant &
8af•ty Eqmt Equlpment
2024
Cost
Al 1st January 2024
AddrtionslDi$posals
Al 31st December 2tr24
Tot•1
19).LYXI
10.749
12,776
213.525
345
213.870
1￿.[￿xI
10,749
13.121
Depre¢ialion
At 1$1 January 2024
Depreaation
Less Depreualion on DisFwI
At 31st D8cemb8r 2024
19,0
4.049
716
12,410
35,459
4,785
12.679
40.244
Net Book Value at 1st January 2024
Ng1 book Value at 31st December W24
171,CKM)
167.2(￿)
6.7
178.066
173,626
Page 5

Tanglble Flx•d Atssets IC¢nLI
Comparative figure8 for 2(r22
2023
2023
2023
Buildlng M•88 Ro
Plarf a
sthty ewt Equlpmgnt
2023
Al 1st January 2￿23
Additions
At 31st Decemb8r 2023
190.C
10.749
12.776
213.525
10.749
12,776
213,525
Oaprgaation
Al 181 January 2023
Depr8cith'on
Le88 Depreaalion on Disptssal
Al 31st Docember 2023
I5￿K•
717
578
19,¢lll
4.049
12,410
35,459
N81 B¢)ok V8lue at 1st J8nuary 2￿23
Net Book Value at 31st Decemt4f 2023
174.8CiI
171.OQ)
7,417
6,7
183,161
178,066
14 H•rltsg• A8*•ts
2024
2024
Olh•r Rolllng
2024
Othor
2024
Total
Cost
At 1st J4nuary 2024
Additions￿+SPosèlS
Al 3191 Decembgr 2024
22,881
106,296
22,861
3,840
106.296
No depwiation h98 beèn #p￿led to thè Hent¥ge Assets. Therefor• th• book valu88 at 3181 DècAgmbor
3arè as abov8.
Comparative flgurtss for 2023
2023
2023
Oth•r R¢AII
2023
2023
Art•fa¢¢•
Tot•1
Cost
At 1$1 January 2023
AddilionslDi$po88ls
At 31 ¥1 Dec•mber 2023
79,59S
22.881
1C6,296
.881
108,298
Flv• Y••r Summary of H•rbtag• A•¥et Trnn•a¢llon•
There have been puthases. donab¢m. disW8 or impain￿nI8 to Hanloy A6seis during
the la$t five years.
Page 6

Nots 15 Stocks
2024
Stack
2023
Stock
Charit8bl8 A￿"V￿"e8- B¢)ok
Opening
Added in Period
Expensed in Peric•
Clo$ing
Other Trading Actiwii88
Op8nlng
Added in Period
Expens8d in Period
Closing
Total C1081ng Sale8 Stock Th58 y•8r
Add Staek¥ of Stor••
Totsl Stock•
Total Cla•lng 8to¢k Pr•¥lo￿ Ymr
1,389
1,710
165
1,827
1,389
1.836
9.612
11.448
11,010
1.398
9,812
11.010
11,331
Nots 16 An*ly•l8 of D￿torn
2024
2023
Trade D&btors
Prepayments and A¢¢rued Income
Other Debtor8
2.420
1.803
2.207
8,610
12.678
16,707
Tetal
Noto 17 Cr•dltor• ind A¢¢nJ41•
Analy•i• of Crgdtorn
Amounts Falllng Du•
Wlthln On•YMr
2024
Amounts F•lllng Due
After On• Ymr
2024
2023
2023
Trad8 Credito
ArLruals & Deferred Incomo
othor Creditors
3.787
702
2.205
2,691
362
4,947
T¢t•l
2,084
2.205
2,891
Not¢ 18 Def•ff•d Incam•
In¢ome w88 deferred In respect of sm membwship wjbgcn.pkns *•thlth **re pald In 8dvanc•
m0￿Ment In D•f•rr¢d Incom• A¢¢ount
XJ24
M•mbornhlp
Sul*crlptl*)n•
2023
8mb•rnhlp
Sub8eription•
Vehlcle
Hlr*
V•hlcl¥
Hlrg
8a13n¢e at Stsrt ofthè RepNbng P￿1￿j
Amounts Added in Current P•riL¥J
Amounts Released to Income Prev PeriodB
Balanr* at End of Reporting Pevic*J
3,489
229
811
2.9)7
3,164
1.125
3,489
Pa￿7

Note 19 Charlty Funds
Dtrtsils of Mo¥8m•nts in FundB in 2024
Balane• at
Balane• •t
01.01.2024 In￿m* EXpwKl￿rn Trnnsfor$ 31.12.2024
R•$trlcted Fund8
Totsl Restricted Fund•
Unrestricted Fund•
Woottoft H*ll LocornotNe restornth)n
cal￿￿n
L￿Orn0t￿ wtorntbn
FR25
LewnotNe restorat￿n
Fluty
Lr*ornotNe restoratK)n
NLR Comtye rnstoratHJn
Total Designated Funds
Total Non 08sigrtale(l Funds
Totsl Unrestrlctsd Fund8
4.097
1.073
1.237
8,570
522.296
530.866
1.073
1.237
4.473
535.238
539,711
69,2
69.753
60,908
Total Fund•
530.866
69,753
539,711
Clotsll• of knments In Fund• In 2023
B•lanc• #t
01.01.2023 In¢¢m•
8•lanc• at
ExpendibJr• Trnn•f•rn 31.12.2023
Purpo••
R￿trIcted Fund•
Total Rmtrfctrd Fund•
Unr¢$trictod Fund8
Woollon I1￿1 Loc4JmotiVo r•thr•lknn
CWib8n
Locunoliva re8toralk)n
FR25
Lo¢wlN• rn$toral￿n
Fluff
NLR Broke
Carrthg• rostor¥tl
Total Deslgnaled Funds
r¢lal Non Designated Funds
Totsl Unr•strlct•d Fund•
1,413
1,483
620
5.580
1,3CX)
1,073
1,237
8,570
522,2
530,888
1.493
1.237
420
1.413
53,488
54.901
2,503
47,650
50,153
516.458
526.118
Tot*1 All Funds
528,118
84.901
60,153
S30,868
Note 20 Transactlons wlth Tru•tse• and R?l•ted Par
None of Iho tru$t8fj$ havg b8gn paid any remynefa1￿ or Y￿e0¥ed any other bènefits.
Ona tnjstee was paid a total of £818 for travel expenses in 2024.

Independent Examinerfs Report to the Trustees of the
Furness Railway Trust
I report on the accounts ofth8 Tfustforthe 12 monts end•J 31st Deowiber 2(Y24. aré set out
on pages 110 8.
R06P•CtIvo Re¥po￿lb1ll￿•l of Tr￿ and Examiner
The chartW8 Iru8toe8 are respon81￿* frK the weparakn ofth• w>wnts.
Thg tharitys trusteey conssder that an autht 1$ not TequTrJ forthi8 pertod uThJer w¢Yon 144 ofthe
Charltle8 Act 20111the Charllie8 Ad) aNI that an new1￿.
Mls my re$pon8I)ilty to:
. oxamJn8 tho ￿￿nts under 8ectw)n 145 vfthe ch￿11@S A
. to follow thè proc*dur86 dwi In tho G•nwal Dlr•ckn8 by the C￿lity Commissvxt (under
8edion 145ISllbl of the Chaiitie8 Act:
. to 8tate wh•lh•r portkutor mattgrs cmto nry att￿til
Ba•1• of Ind•pgnd•nt Ex•mln•rf• Slatffi*rt
My examinatlion was ¢omed ¢)ut in accord8n¢e ￿ Gonoral Dire¢Uorn given by th• Chartty CommI8￿on.
An examlnatlon Indkth6 a r¢vlthv of tha acojunting r4¢4rds kapt tythe tharity ond o eompwison of the
a¢o)unl8 pr08ented vthh th08e records. It a180 Indudw cJ)n8[derall￿ of any unusual iioms or disdo8ure8
In th8 atxounts, and soeklng explon8ti(Th trom tho trustsa8 conwnlng any 8uth m8tt8TS. Thtr
prOc￿lUreS undertaken do not provido 011 th• ewdencethat be req￿red in 8n oudtt. and
con88quenlly no oplnlon 18 givon 98 to whether 8c£ounts pr￿ttt a and f81rf and the roport i¥
limited to Ihos¥ matterj W OLrt In the 8tateffwrt bttltr*.
Indop•nd•nt ExAmlrnrf• 8t•t•m•nt
In Conn￿tIOn *rfth my examlnakn, no fflattw hats to my altènllon..
(1)
Whlth gfve8 m8 ro880nabkn cau80 lo Itwt kn. •ny ffl￿tert￿ reipe¢t. rnquirem•nts".
accountlrvJ re9￿1•￿nIS oflM Cfiarfll88 kt
hgv• not been met or
121
to vthith. In my opknlrffl. attentkn St￿[d bo dra*m kn ¢xdgr to enal)Ib 4 rKorw w*lerslanding
ofthe #c￿￿nts to be mched.
Slgned..
Nan*.'
. P• ACK4 CGMA
24. Sc*borthwh Ro•J. St. Arms. Lylham SL Anww, L•Kath Ff8 3ES
ailc>ai kcKS.
Pog8 9