Charity registration number: 1172852 Littlehampton Heritage Railway Association Annual Re[￿ and Financial Statements for the Year Ended 31 May 2025 Hodson & Co Wistot] House I Wiston Avefjue Worthing Sussex BN14 7QL Littlehamptoll Heritage Railway Association Contents Reference and Adminislrative Delails Tnjstees, Rqx)rt 2104 Statemcnt of Tn￿e¢s, ResN)nsibilities Independenl F.xaminerfs Rewrt Statrment of Fi[W￿la1 ActivitiGs Balance Sheet Notes to thc Financial StatemenL8 9ts>17 Littlehampton Heritsge Railway Association Referenee aud Administrative Details D Harris S Shanks P RoknLs R Ward S Flill Chgrlty Registration Number 1172852 Th¢ FAY8inc Shcd ,Mew3bnx)k Park Hendon Avenue Littjehampton we￿ Sussex BN16 2LX Ind¢peDdent Eumintr Hodg)n & Co Wiston House I Wislon AveDue WorthiDg West Su&sex BN14 7QL Page I Littlehampton Heritsge Railway Association Trustees, Rewbrt The trustees, pre5cnt the annual rep)rt together with the fllwicial statcments and auditor5, rewrt of the charity for the year ended 31 May 2025. Objtctives and aetivitses ObjeL*Y andaln As ststed in the ch￿Ity'S rnemorand￿ the object ofthe charity is: To rc5tore. preserve. exhibit and operate railway lou)motiVts. {￿rIageS w4gon& vebicl&8 and other artef2cts of histori(zl iDl¢r￿( and the Structur￿ (X)nD￿ therEwith for the IKnefiL and sjucation of the gcneral public and photogrdphs and other archive matrrlal relating to artefacts and vehicle& their history and developmenL Publlc benejlt Thc Littlehampton Herilage Railway A&￿I*l0n (LHRA) is run on a not for pmfit FLsis and the truste0% have had regard to the Charity ComMi￿10n guidanLT on puNic IKncfit al￿ paid due regard to it in deciding wlmt activiti&s the Lawity should ulld¢rtgkc. The trustees confitm that they have compliaj with the requirements of 5eL1ion 4 of the Charities Act 2011 to have duc regard to the public bcncfit guidance publishcd by the Charity Coo]mis5ioll for England and Wales. Acbievements Ind p¢rform*nee This year we celebrated 76 yeaTS ofoFfflling the oldest 0￿ing 12 114inch gauge railway in th¢ UK. We stAII get huge int¢rest from near and far from train enthusA&sts and visilors. Despite Incr¢￿eS in ￿al, electricity. and n5truction Ma￿rial prices ￿ still hold our Pri(￿ lor an 9th con5￿utive year but this needs to be closely DK)n]￿￿￿ for the next S￿n. During the wintsz closed sw)n. the la51 se£tion of track and slctTa5 ￿TI￿ wl8(Yd including levelling and r¢ ballasting. This w&$ und¢rtaken by the voluttteeTs [￿lting in an invth¢nt of approxirna*ly £5,400. This mean5 since the railway tsken by over LHRN IOO•A of track has been replaced. The Yolunteers of the railwdy all completed this. Sevttaj of our w)flicie5 were utxlated and improved namely our Safeguarding and Risk asse￿ents. Health. Safay & Well￿1n8 and F4uality. Divu5ity and ioclusion ￿)lici￿ a(W A Rulc Ixx)k Add￿duM wd5 published and issued to aIl Volunleets U￿latIng cutrent best practices 2nd restx)nding to near miss incidents Again Sonta Specials continue to be a huge succw thmughoui the ￿nUnunity and sold our within 3 days of ing on sale kn the galeral public and something we ho￿ ￿ improve on for 2025. A Defit(illalor b&5 Iwi inslalled at thc cnginc sIMxl and regislercd on Yhe Circuit-. A number of voluntCa5 have been trained on using this al￿ it is (xrried on thc tiatn when we are First aid tr2ining w&8 givcn to a furth¢r 4 volunleei4 so now havc 7 tiaincd first aiders. Two voluntrer5' fairs were attended one in Chichester and on¢ in Rustington and 8s 8 result of that and by tslking to those in the park or on the train ha8 r£￿Iled in 10 new volunteers. Pag¢ 2 Littlehampton Heritage Railway Association Trustees. Report Other Improvements for the year included: - Fire stopping walls and ceiling in the fvel s￿re to create a I hour compartment separdtion from the engine -Concrde laid in thc Cnginc 5hcd to reduLY the risk oftrip I￿￿￿￿5. -con￿¢[¢ ￿0&$Ing laid at MewsbrrM)k prk to facilitatc to the gankniD8 slJe4J and North lawJL -Pl￿nger 5ignAge impmv¢ments including safety infortnation wer¢ started at sWion5. -A new train information and lighting installed ints) ail earria8¢9 and operated from the guards van. - s￿edoMe￿r5 have becn instslled in all diesel locomotives to improve line s[￿] compliance. - Painting of fenc￿ at statio￿% and new gates installql and feed to wuilins roorn and lisbts for thc Santa specials. -A new hydraulic valve was inslaJloJ in Dw which bas signifiontly irnproved the drivfability. A joint project bctween Ruislip Railway and LHRA h&8 St3rted to r¥fi￿bl5h the ensine unil 'Tony" from FairtKTrurne Railway. lastly we have been su¢¢¢ssfid in pp55ing out new gu8rth and driva5 and therc h&5 I￿gn 4 small incrA8e in our Me￿I￿ShIp. Fin¥4nciAI revlew Polity oft reserves charity. At the presfflt moment in time the trustets wyjuld like to Ixjild the level of unresthctoj reserves to cover six rnonth5 expenditure. Going eontrrn fjnancial le￿)UrCeS and is able to managr irs Fmrsintss risks. The c1￿￿S planning proc£ss IL% tskett into nsiderdtion the current ￿nomiC climate and its tM)tential impact on the Vario￿ sources of incA)me attd planned expenditure. Taking into aca)unt ail factOT5 the charity has re35onable exI￿tatIon thai it b&8 adequate resour￿5 to ￿￿tilluC in 0￿IOnal cxi5knLr for thc firturc alld EK11￿¢ that the￿ arc ￿ matuial unc¢rtaintses L7ll into the charlty's ability to cA)ntinue in operntion. Trustets and officers The tr￿stres and offiLrf5 serving duan8 the ycdr and Sin￿ the year aml *tre ￿ follows: D Harris R Cook (resigned 26 March 2025) S Shanks P RobeTLs C Slw]Ls (ra8igned 2 July 2025) R Ward (aptx)inteAJ 26 March 2025) S Hill (aptK)inted 2 July 2025) Page 3 Littlehampton Heritage Railway Association Truste*s' Report Structur< governanee alld m%nggemeot The charity is regi51ere4J as a chaTitabl¢ ill￿￿￿1[ated organis8tion (CIO) as of 3 May 2017. Organ￿allonal s¢rncture The charity is run by a board of trustees who delegate the day to day Owdtion to voluntea5. ObJec¢hTre5 andpollcies The charity only h&5 financial assets and financial liabilities of a kind that qua]ify as b&sic financial instrLunents. B&sic financial inslnmients are initially reu>gnised at transaction value and subwuently measured at their settjetnart value with the exception of bank l(Yans which are subswily Measur￿ * amortiscd using the efredive interest method. 4¥Yoved by the I￿sleeS of the ch￿lty on .. d iign&l on its behalf by: P Roèerts Trustee Page 4 Littlehampton Heritage Raihvay A&qociation Statement of Trusteo¥' R¢spoDsibilih The trustees are reS￿nsIble for preparing th¢ ln￿tt$, report and the financial statements in accordance with applicable law and United Kingdorn AcLX)untsng Standards (Unl￿d Kingdom Generally AC￿pted Aecountin8 Practice). apprDVC thc financial Statr[n￿ts uolcs5 thry are satisfial th8t they givc a true alld fair view of the stalc olaffwr5 of the charily and of thc incoming resourc￿ and application of resources, including its incomc and expenditure, olthc charity for that perio(L In preparing the5c financiat statements. the trustCCS 3re required to.. sclc(* suitable accounting wli¢ie5 and apply than LX)nsisteniJyg observe the meth￿ts andprincipl&s in the Charities SORP. akc judgcmcuts and &stimates that arc rLzsonable and pruthL statr whether applicable accounting standards. (x)mprisin8 1."RS 102 have been followed, Subj￿ to any mat¢rial departsm disclo￿1 and ¢xplained in the fllJan¢ial statements" and prepare the financial stalana)ts oll the going conc¢zn Imsis unlL%s it is iDaFpropriate lo presume that the table LX)rnpany will a)￿1￿u¢ in I￿sinC￿ The trustees are resrx)nsible for keeping accAyunting records thai disclose with reasonable accuracy at any time the financiaj ￿sItIon of the charity. They are also restM)L8ible for safeguarding the assets of the charity and henLZ for taking reasonable sleps for the ￿eVentIon and ddertion of fraud and other irre￿arItieS. The trustees are resp)Lsiblc for the rna1nty￿ and intwity of ￿ Ixw[￿tc and financial inforn￿tIon includcd on the Websi￿ ￿gislatIon governing the preFwalion and dissanin￿l0D of finaDcial statements may diffcr from Icgislation in other jurisdiciions. Approved by th trustees of the tharity on .. d signed on its behalf by: P Roberts Tn￿tre Page 5 Littlehampton Heritage Railway Asqociation Independent Euminer's Rewprt to tbe trustees of Liltkhampton Heritage Raihyay A￿elation {'the Company,) I rep)rt to th¢ charity trustees on my examination of the accounts of the Company for the year endd 31 May 2025. Responyibilitst5 basis of report As the charity'5 tru5t£Ls you are reswnsible for the prq)arntion of thc a￿llnts. The charity's trustces considcr that an audit is not rquired for this year under section 144 of thc Charitics Act 2011 ("thc Charitics Act") and that an indetKndenl eKqmination is needed. Having satisfied rny5elf that the charity is not subj￿2 to audlt and 15 eligible for itWda)t exa[nitho￿ it is my rwx>nsibility to: examine the accounts undcr section 145 of the Charitie5 ACL to follow th¢ pro(xdures laid down in the general l)irectiQn5 giv￿ by the Chariiy CoUll￿10n (under section 145(5Xb) of thc Ckwities Act). and state whethLY ￿lcUlar ￿￿ttl￿5 have come lo my altL*tio Sis of independent ¢X8mincr'5 Statement examination includes a review of the a¢(x)unting records kept by th¢ c￿lty and a comtWi50n of the acthunts pre￿ted with those r￿￿ThIs. li also includes ￿nsI{kIall0O of any unusual itans or disclosu￿5 in the ac(x)unL% and seeking explanattODS frorn the tn￿ttts 0)n(￿nIng any such mattffs. The pr()c¢dures undertaken do not provide ail the ¢vid¢nee that Nvould bc rcquired in an audiL and consequcntly no opinion is 8iven as to whether the acujunts present a 'true and fair. view and the rq￿ is lirnited to those matte[5 set out in the statement I￿low. Independent examiner'% slxtemtnt Jn com]e£tion with my examination. no rnalerial matters have come to my attention which gives me cause to bclicvc that in, any material respect: . the accounting records were not kepl in accordan(t with section 130 ofthe Cbaritie5 ACL or . th¢ acix)unts did not acc4)rd with the acLX)unling rec4)rds" or . thc a(xx)unts did not comply with the applidilc requirements u)nmming the fonn and conirnl ofacL¥)unts set out in the Charitie5 (Acix)unts and Rqx)rts) Regulations 2￿8 other than any requi￿¢nt that the acLx)unts give a 'true and fair" view which is not a matter considered ￿ part of an Inde￿ident examinalion. I have a)me across no other matters in ￿nneCtIOn wtth the wminalion to whith atkntion should be drawn in this rqx)rt ID Ord￿ to cnable a pmtw understsnding olthc acLX)unts to reathcd. M J Hod50n Bsc FCA Indwdent Examiner Wiston Ilo I Wislon Avcnuc Worthin8 West Sussex BN14 7QI. Qol ) Pag¢ 6 Littlehampton Heritage Railway A&wciation Statement of Financial Adivikn￿ for the Year EDded 31 May 2025 UDrestrieted funds Totsl 2025 N•ts Income and Endowments from: Cbaritsble activitics Inve5tsnent iDcoma 50204 521 50204 521 Tota] In￿Me 50.725 50,725 Exptndilllrt o Charitable activities (43243) (43243 Total expenditure 43243 43,243) Net income 7.482 7.482 Net movement in fim(L8 7.482 7.482 RecoDeiliation offund5 Tota] funds brought forwaTd 84.127 Total fi￿￿3 c8tried for*ard 12 91.609 91,609 Totsl funds Income and Endowments from: Cbaritable aclivities Invc5ttncnt iocome 53252 423 53252 423 Totsl inLXrnC 53,675 53.675 Eipendityre on: Charitablc activities (66216 (66216) Tots] cxFnditUTC Net exp￿dI1UrC Net movement in funds ((6216) (66216) (12,541) (12.541 (12,541) (12.541) RtconcilixtiDll of fimds "rotsl fi￿￿$ bmught forward 96.668 Total funds carried fonvard 12 84,127 AU of the tharity'5 activitics derive from continuing otmtions during the alxive two ttriods. The fimds breakdown for 2024 ts SIK￿ in note 12. The notes on pages 9 to 17 forni an integral part of these financial siatements. Page 7 Littlehampton Heritsge Raihvay A￿Ociation (Registration number: 1172852) Balance Sbeet as at 31 May 2025 202$ 2024 N•ts Fiwl aJs¢ts Tangible 39.844 Current asJ¢ts Debtors Cash at bank and in hand 7.161 45,401 6.610 31.685 io 52,562 38295 Credltors: A￿OUnts falling due within one yt8r (770 Net eurrent assets 51,765 37,525 assets 91,609 84.127 Funds of the eharity: Unrestrirted ineome funds Unrestricled funds 91.609 84.127 Totsl hnds 12 84,127 Thc financial 5Latcments on pages 7 to 17 were apwved by the trustees. and authorised for issue on on thcir bchalf by: PRO The noies on page5 9 to 17 10rn13n inte8r31 part of these finaDciai statements. Page 8 Littlehampton Heritage Railway Association Notes to tbe Financial Statements for the Year KDded 31 May 2025 I Charity ststus The charity is a Charitable IncoryK>relaJ Ow1￿0￿ (CIO) and (x)nSeqU￿tIY does not have a share capital. The addrw ofits regislcrrd office is: Thc Enginc Shcd Mew3brook Park Flendon Avenu¢ Litt1thatnp￿D West Su55fX BN162LX 2 Aecounting policies Summary off significant *e¢ouotiDg polities kry *c£olllltiDt tslimxtes The principal aCC￿UntIng ￿1]C1￿ applicd in thc prep3rdtion of Ihese are set out EKIOW. These FK)licies have been consistently applied kn all the ycaT5 presentr¢ unless otherwise staled. StAtemeLt of compliance The financial sfatements have be£n prqmrol ill with Accounting and Retx)rting by Chariti&5: Siata-nenl of Rea)mmeDded Practice applicable to tharities preparmg their accounts in a(xordaDce with the Financial Rewriing Standard appli(zble in thc UK and Republic of ITcland (FImpTiSe & on hand and dqM)Sit4 and other short.terni hishfy liquid investtnents that are readily convertible to a kno￿ amount of (Ish and are subject to an insignifiwt risk of change in value. Fund structure the objectives ofthe chariry. FIDancfial iDstrum¢Dts Trinancial &ssets and financial liabilities of a kRlld that qualify &% basic financial Instrumen￿ Basic flltancial i1￿n￿Dents are initially re(x)gniseAI at fran￿)00 value and subswently measured at their sett]ement value th the exception of bank loans which are sllbsequently me95Lllrd at Iwnortised cost using the effective interst metho(L 3 Ineome from elwitabk activilies nrestriet¢d Total nds Ceneral Railway OFrrdtion 50204 50204 Ttstsl for 2025 50204 50.204 TDtaifoT 2024 53252 53,252 Pagell LittlehamptoD Heritsge Railway A&8ociation Not￿ to the Financial SlatemeDts for the Y￿r Ended 31 May 2025 4 Inv¢Jtm¢nt Intome fi￿d5 Gener81 Totsl funds Interest receivable and similar in(x)me: Intmt reL*ivable on Imnk dep)sits 521 521 Totsl for 2025 521 Total for 2024 423 423 5 F.Ipendithtt Dn charitxblt activitits funds GeDtral Total 2025 N• Railway oFKrdtion AIIoLZted supp)rt Lx)sts Governance cos¢s 40,961 lJ75 907 40.961 1,375 907 43243 43243 T•¢al 2024 Gener¥1 ]¥ote Railway otmtion All(￿ suptx)rt LXbSts 63.812 lJ78 1,026 63.812 1.378 1.026 66.216 66.216 uDd¢rt8kell Activity support £05ts 2025 Railway otmtions 40.961 lJ75 42.336 diredty Jupport ¢05ts 2024 Railway otThtions 63.812 lJ78 65.1 In aiklilion to the exFThditute an￿ySed al￿ there are als) govfflwiL% of £￿)7 (2024 . £1.026) which relatr directly to charitable activities. See notr 6 for further details. Page J2 Littlehampton Heritage Railway A&wciatioD otes to the Fin2neial Statements for the Year EBded 31 May 2025 6 Analysis ofgovernanet yupport costs Total GeDer*l Indwdeni exxminff Examination of the financial statements 907 Totsl for ZQ25 907 Totsl for 2014 1.026 7 Taxatioo The clwity is a registereAJ charity and is therefore exempt from taxation. Page 13 Littlehampton Heritage Railway Assotiation Notes to the FinaDeial Statements for tbe Year Ended 31 May 2025 8 T4Dgible flled Assets Furnithre Other I￿£1b1¢ ¢qoipmat ed wet Totsl Cost Al l Junc 2024 Additions 20,699 1557 59,011 79,710 1.557 At 31 May 2025 22256 59.011 81267 Depreciation At l Jullc 2024 c￿ge for the y 11125 1414 20.983 5.901 33.108 8J15 At 31 May 2025 14539 26.884 41.423 Net book Y￿￿¢ At 31 May 2025 7,717 32.127 39.844 At 31 May 2024 8574 38.028 46,602 9 Debtors 2•24 Other debtors 54 1553 6￿10 10 Casb and cash eqpival¢nts 21n5 2024 Cash OD Iw 138 151 7251 24283 15.460 29.803 SIN)rt4erni dqxisits 45,401 31,685 Pa8e 14 Littlebydmpton Heritage Railway Association Nota to the Financial Slatements for tbe Year Ended 31 May 2025 11 Creditors." amouDts falling dut within ODe year (i) 798 Accruals Page 15 Littlehampton Heritage Railway Association Notes to the Financial Statements for the Year Knded 31 May 2025 12 Fuds Balallct at I June 21)24 lttcoming Balance It 31 May 2025 Lnrestrieted funds 43243 91.609 Balance at I June 2023 Ineoming Resources eipended B%lallte at 31 May 2024 Raklway Operation 96,668 53.675 66,216 84,127 Page 16 Littlehampton Heritage Railway A&¥ociation Iyotes to the Financial Statements for the Year Endd 31 May 2025 13 ADalyyis of net funds m*llCillE cash Qows At31 May Z025 Al l June 2024 Cash at bank and in hand 31.685 13,716 45,401 Net debt 31.685 l3,716 45.401 14 Related party trwactions There were no related traDsxtions in the year. Page 17