REGISTEREDCOMPANY NUMBER: 11151087 (Engl&nd and Wale5) REGISTERED CHARITY NUMBER: 1183414 RF.PORT OF THF. TRU%TEE.% AND FINANCIAL STATEMEP*TS FOR THF. YEAR ENI DED 31STJANUARY 2026 FOR CHURCHWARD COUINTY TRUST LTD A COIMPAYY LIMITED BY GtiAR.4fiTEE
CHVRCHWARD COUNTY TRLI%T LTD A COIMPANI Y LIMITF.D BY C*l.'ARAliTF.E CONTF.NTS OF THF. FINANCIAL STATEMF.NTS FOR THE YEAR F.NDF.D 31ST JANUARY 2026 Page Report of the Trustees I to4 IndepeTtdent ExaTninerf5 Report Siatemeni of Financial Acliyiiies Balance Sheei Notes to the Financial StsiemenLS 810 1 Deiailed Sthtemenl of Financial Aaivilies 12
CHURCHWARD COUNTY TRUST LTD A COMPAINY LIMITF.D BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST JAIYUARY 2026 The trustees who are also directors of the charity for ihe pUr[K of ihe Companie5 Aci 2006, preseni their report with th¢ financial staiements of ihe chariN, for ihe )'ear ended 3 Isi JanaV ?076. Th¢ trustees hav¢ adopted (he provisions of Accounting and Reporting b& Chariiies.. Siaiemeni of Recommended Praciice applicable io charities preparing their accounts in accordance ii'iih ihe Financial Reporting Siandard applicable in ihe UK and Republic of Ireland IFRS 10?) (effective l Januarv ?0191. ORJECTIVES AND AcfiviTIES Objectives and airns This is the eighth )ear for the tryst and we are pleased io have been able io conlinue io move forward desplte the difficult conditÉon5 affecling the counry as a whole. Membership increased during the year and now swids at 84 having gained 9 members and losing 5 in ihe year. We are continuing io rdise funds for ihe &%semblv of the locomotive via various appeals as the build continues. The appeals we launched last )'¢ar for the Froni End and the Pivot Pin are near lg fulfilled and we have slart¢d a ncw apal for the machining and assembl). of thc M'h¢el The cylinder appeal is down io its last funder out of the 40 required so hopefull!. should close ihis coming year. Our covenantor schcTne now reach ? I member51?O in ?0?5) de5Plte losing some members and is enabling us lo gencrdie regular monihly incorne which enables us io [1cl cash flow more casily. Sponsorship of components has continued io allraci donaiions and is a significant pan of our incorne. Alihough we have noi been able 10 recNii anyone to take responsibility for ihe sales stand M'e werc abl¢ to attend the Autumn gala ai the GWSR due to two of our local members volunieering for ihai occasion. We hope we may be able to repeat thi5 in the )'¢ar as it did rdise a.arenesS of our cause and we i%'ere able io recruii ? new mefflbers. The online shop on our web sile went live in ?0?5 and lIhi day5 .¢ 501d our fiT5t item. Since then we have had sieady sales of our branded MehandISe and secondhand EKyoks. We will continue 10 aciivelv rdise awareness of our goal to re-creatc a Great W¢st¢rn Railm'ay 'Counry class 4-4- 0 steam locomotive using a mixture of new and orioinal comFK)nents. We conrinuc to promote Membership of lh¢ ¢hariry and rais¢ fvnd5 to 3chiev¢ our charitable aims ihrouoh membership. sponsorship. sales and appcals. Pag¢ I
CHURCHWARD COUNTY TRUST LTD A COMPAN'Y LlIMITF.D BY GUARANTF.E REPORT OF THE TRUSTEES FOR THE YF.AR F.NDF.D 31ST JATr*'UARY 2026 FINANCIAL REVIEW The twsiees are happ). 1th ihe perforniance of thc Iru51 this )'ear and aniicipaie ihe momentum will ronlinue in the coming )'ear. We ihank all ihos¢ who have donated to the irusi in ihe lasi >'ear and also ihosc organisaiions that have given us help and supw)rt. The Tnajorit), of funds are generdted VTa a mÉxtyre of annual subscripiions. iogeiher i%'ith monthlN' and onc-off donaiions for specific components of the IixomoEive. We are also linked io the Ea5yfundrJising web Sile here people can doTtate t(Tr th¢ tru51 M'hen buving iiems online froTll Certain internel shopping sites and have enabled donaiions to be mad¢ via Pa}Pal and Vba the Croiydfunder 'eb 5iie. Key financ ial perforniance indicators The trustees use cash flow forecasting to en5ur¢ thai there 15 likel}. io be sutricieni funds available before commiiments are made. This forec&st is uted regularly lo reflect ihe aciual changes in iK&ih income and expendiiure as ihe year pmgre5ses Fundraising and intome generatio We have severdl appeals LO raise income for $Irl( parts of the project. A summary of these follows. The Cylinder Fund is now in its fifth J'ear and Covers the ca51ing and machining of ihe Cylinders. This was aimed at raising £40.Tr)O through 40 people donaiing £ I,0 each and we have l olon left. Tho County for the Cost of a Coftee scheme was launched five vears 1th ihe objeciive being io encourdge Members io commii io regular monihlv payments over 5 )ears M'iih various levels of incentives based on th¢ amount donaied each monih. The scheme has siabilised at ?1 members despitc us losing 50mc eMr5. The Various funds io raise donaiions for the wembly of the wh¢¢1 sets have now be¢n ¢onsolidated into one fund 10 cover all ihe costs of ihis work and to tr>. and focus the fund raisin¥ attivaty.. This Tncthod has been successful wilh ihe Froni End appeal and ihe Pivoi Pin appeal launched la >'ear. both of which are within striking disiance of iheir targets. The Component Sponsorship scheme enables members io donate iomwds the purch of new or second-hand componenis and l or their refurbi5hm¢nt. Thi5 IS still provino to be popular and ive are continuing to releasc new ¢ompon¢nts for sponsorship. As the build progre5se5 M'e are seeing the c051 of components increase as laer omponents are sourced so some of these iiems. being quiie eNpensive. are available on monthl). paymeTri plans. R¢gular monthly donations are nom bringing in just over £9.000 per annum M'hich give5 us a go(xi revenue stream The abiliry io make one off donaiions i'la Paypal has succeeded in coniinuing io rdise dona(ioThs from enihusiasis ovetseas who would noi nomiall). b¢ abl¢ to donate due io currency dilTerences. InTh'estrnent policv Day 10 day funds raised are kept in an insiani access bank account and are used only for invesiing in the cuffeni project. An> surplus money noi required in ihe month is invested in an easy access savings accouni earning inieresi and ihen drawn down Ls requir¢d. Page 2
CHURCHWARD COUNTY TRUST LTD A COMPAN'Y LIMITF.D BY GUARAYTF.E REPORT OFTHE TRUSTEES FOR THF. YF.AR F.IYDED 31ST JAl*UARY 2026 STRUCTURE. GOVERNANCE AND MANAGEMENT Governing doeumtnt The charity is controlled by its governing documeni. a deed of irusL and conmiiuies a limiied company. limited by guarant¢¢. as defined by ihe Companies Aci 76. REFERENCE AND ADMINISTRATIVE DETAILS Regislered Compan). number 11151087 (England and Wales) Registered Charity number 1183514 Regk5tered orri¢e 4 Grc¢n End Barns Ramsey Road St. Ives Cambridgeshire PE27 5RH Trusttt5 David Brddshaw Richard Croucher Stephen Davi¢% lan Townson Company Secretary lan Tom'nson Bgnkers HSBC Bank PLC 2-6 Gallowiree Gale Leicester Independent Examiner H¢nTI' Tacconi {FCA) 32a East Street St. Ives Cambs PE27 5PD Page 3
CHURCHWARD COUNTY TRUST LTD A COMPANY LIMITF.D BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31STJANUARY 2026 Trustees, Responsibilities Statement The irnst¢¢s are responsible for preparing the Trusiees. Report and ihe financial statements in accordane¢ with applicable law and Uniied Kingdom Accounting Standards {Uniied Kingdorn Acc¢pt¢d Accounting Practice). Th¢ la appli¢able to charitie5 in England &, Wales requires ihe irusiees io prepare financial siaiemenis for each financial year ii'hich give a trne and fair Vie of ihe ale of Ihe atrairs of Ihe chariN' and of the incoming re50urce5 and applicaiion of resources of the charih. for ihai period. In prep2riTkg ihese financial statemen15, the trusEees are required to.. Select suitable accounting policies and Ihen applv ihem consisienily: observe the meihods and principles in the Charities SORP (FRS 102): make judgements and esiimaies ihai are reasonable and PTudeni- siaie whether applicable accoun(ing sthndards have been followed. subjeci io any maierial depanures disclosed and explained in the financial 5taiements- prepare the financial statements on th¢ going ¢onc¢m basis unlcss it is inappropriate to presume thai the harity will coniinue in operaiion. The trustec5 are responsible for keeping accouniing records ihat disclose with reasonable accuracy at any time the financial posiiion of the charity. and enable Ihem io ensure ihai ihe financial siaiements comply wilh Charities Act ?0 I l. the Charity (Accounts and Report51 RegulatL0115 ?008 and trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for Ihe preveniion and detection of fraud and other irregulariiie5. This report h&$ been prepared in accordance wilh the special provisions of Pan 15 of ihe Companies Act ?006 relating to small companies. Approved by order of the FA)ard of trustees on 30, June 2026 and signed on its behaifby.. lan Townson - TNsiec Page 4
INDEPENDENT EXAMifiF.R'S REPORT TO THE TRUSTEES OF CHURCHWARD COUIYTY TRUST LTD A COMPANY LlIMITF.D BY GUARANTF.E Illdependent eK2miner'$ repjrt to the trustees of Chrch.ard Counti. Trust Ltd ('the Cornpany,) I report io the charity trnsiees on my exomIn10n of ihe accounts of the Cornpany for ihe year ended 3 Isi January 20?6 which aTe sei oui on pages 6 to l ? Resptsnsibililies and basis of report As the charity's injsiees of the Company (and a150 direciors for the purposes of company law} you are reswnsible for Ihe preparation of the accounts in accordance with ihe requircments of the Companies Act ?6 ('Ihe 2006 Act,). Having satisfied myself that the accounts of the Compan!. are not rwuired to be audited under Part 16 of ihe ?006 Acl and are eligible for independeni examinaiion. I report in resp1 of m}, examinaiion of your charity's accounts as carried ollt und¢r seclion 145 of ihe Charities Act ?01 l {'thc ?0 I l Aci.). In canvinu out rnN' examination I have followed the Direclions given by ihe Charit). Commission under seciion 14515) (bl of the ?01 l Act. Independent exgmineT'S Statejntnt I havc completed m}. examinaiion. I confirrn th* no matters have come io my alleniion in conneciion with the e¥amination giving n)e cause io believe.. accouniing records ivere not k¢pt in SpeCI of ihe Company as required b). section 386 of the ?006 Act: or Ihe accounts do not accord with those rccords: or Ihe accounts do not compl), wilh ihe accouniing requirement5 of seclion 396 of the ?006 A¢1 other than any requirement that th¢ accounts give a irue and fair view which is nol a matter considered as pan of an independcnt ¢xaminaiion- or the accounis have noi been prepared in accordanc¢ wilh ihe melhS and principles of ihe Siaiemeni of Recommended Praetite for accounitng and rewning by chariiies lapplicable io charities preparing their accounts in accordance with ihe Financial Reporting Sw)dard applicable in the UK and Republic of Ireland {FRS 10?)]. I have no concerns and have come across no oiher mailers in conneciion with the examination to which attention should be drawn in this r¢port in order to enable a pper understsnding of the accounts lo be reached Henry Tacconi IFCAI 32a Easi Sireei Si. Ives Cambs PE27 5PD Page 5
CHURCHIVARD COUN'TY TRL.ST LTD A COIMPAYY LIMITED BY C:VARAliTF.E STATEMEIYTOF FINANCIAL ACTIVITIF.S FOR THF. YF.AR El*DF.D31ST JAYI UARY 2026 2026 Total funds 2025 Toial Fund5 Unresrricted fund Restricted fvnd INCOME AND ENDOWMENTS FROM Donation5 and sales 75.609 75.609 53.879 Total 75.609 75.609 53.879 EXPENDITURE ON Charitable expenses 16,452) (6.452) (4,2021 NET INCOMEI(EXPENDITURE) 69.157 69.157 49.677 RECONCILIATION OF FUNDS Tol81 fund5 brought forward 375.193 375.193 3?5.516 TOTAL FUNDS CARRIED FORWARD 444.350 444.350 375.193 The notes forni part of these financial siaternents Page 6
CHURCHWARD COUIYTY TRUST LTD A C01¥1PANI Y LlIMITF.D BY GUARANTEE BALANCE SHEET AT31STJANUARY 2026 Unrestricied fund Restricted fiEnd Toial funds Total funds Notes FIXED ASSETS Tangible assets 146,946 146.946 106.219 CURRENT ASSETS ?38.803 27.7)8 238.803 27.7i8 4?.049 177,795 12,877 Debtors Cash ai bank and in hand 308.590 308.590 87,918 CREDITORS Amounis falling due wiihin one year (11.186) (11.186) 118.944) NET CURRENT ASSETS 297.404 ?68.974 TOTAL ASSETS LESS CURRENT LIABILITIES 444.i50 444,350 375.193 NET ASSETS 4144.350 444.i50 375.193 FUNDS Unresiricied funds 444.350 375,193 TOTAL FUNDS 444.350 375.193 Th¢ charitable compan}, is enritled to exemplion from audit under Seciion 477 of the Companies Act ?1)06 for the y¢ar ended 3 Isi January 2026. The members have not requEd lh¢ compan%. io oblain an audii of its financial siaiements for ihe year ended 31 si January 20?6 in accordartc¢ w'ith S¢¢lion 476 orth¢ Companies Aci ?006. The trustees acknowledge their respon5ibtliti¢s for la) ensuring that th¢ chariiable compani, keeps accouniing records ihat comply wilh Seciions 386 and 387 of ihe Cornpanies Act 2006 and preparints financial Statements whtch giv¢ a true and fair Yi¢w of th¢ slate of affairs of the Charitable c(Trrnpany as at the end of each financial y¢ar and of its Surplus or d¢ft¢ii for ¢ach financial )'¢ar in accordance wilh th¢ rcquiremenis of Seciions 394 and 395 and which oihen4ise comply M'iih Ihe requiremen of the Companies Act 2006 relating to financial Statements. 50 far applicable to the charitable companN'. {b) The5¢ financial 5tat¢ments have been prepared in accordance with the provisions applicable to charitable companies subjecE 10 Ihe small companies regime. nancial staiements were approved by ihe Board ofTrusiees on 30thJune 2026 an 'ere signed on its behalf by.. lan Townson- Trustee thvid radshaw-Trustee Page 7
CHURCHWARD COL'IYTY TRUST LTD A CO1PAINY LIMITFD BY CJUARA%I TF.E NOTESTO THE FINAYI CIAL STATEMENTS FOR THE I'EAR ENI DED 31ST JAliUARY 2026 ACCOUNTING POLICIES Basi5 of preparing the financial st#terNents The financial siaiements of th¢ charitsble cornpanv. Ivhich 15 a public benefit entity, under FRS 10? have been prepared in accordance M'ith ihe Chariiies SORP (FRS 10?)'Accouniing and Reporting b). Chariiies.. Siatemeni of Recommendcd Prdciice applicable io charities preparing their accounis in accordance Ivith the Financial Reporting Siandard applicable in the UK and Republic of Ir¢land (FRS 10?) {¢ff¢cliv¢ l January ?019)', Financial Rcporting Standard 10? The Financial Rcw)ning Siandard applicable in ihc UK and Republic of Ireland, and the Companies Act ?006. The financial siaiemenis have been prepared under ihe hisiorical cosi convenlion. Income All income is recognised in the Sthiemeni of Financial Aciivities once the charity has entitlement io the funds. it is probable that the incorne will k rff¢iv¢d and the arnounl can be rneasur r¢liably. EYp¢nditure Liabilitics are recognised as expendirure as soon as ihere is a legal or consiTudive obligation commining the Charl lo ihai e.¥pendilure. it is probable that a transfer of economic benefits will be required in seiilemeni and the amount of the obligation can be measured reliabl).. Expenditure 15 accounled for an accruals basis and has been cla55ified under headings ihai aggregaie all cost relaied to ihe ¢at¢gor)'. Wh¢r¢ costs cannot be directly attribuied io particular headings ihes, have been allocaied io aciiviiies on a basis consisieni 'Ith ihe use of resources. Taxation The charity is exempt from corporation i&x on its charitable a¢iiviiies. Fixed Assets All costs applied to the construction of locornotive 3840 are Sho. M'ithout dcprcciation 'hI]st the asset is under consiruc(ion. The depreciation wlic!. will be revieM'ed once the locomoiive consiTuaion is compl¢i¢d. Stocks Siocks are valued ai the lowerof cosi and nei realisable value. Fund aeeounting Unresiricied funds can be used in accordance wilh ihe Charlble objefflives at ihe dire110n of the tTUSt¢es. Restricied funds can only be used for particular restric1 purposes Wlthin the objects of the charity. Resirictions arise when specified by the donor or M'hen fwids are rJis¢d for particular restricted PUTP05es. Funher explanation of the nature and purpose of edch fund is included in the notes lo the flnancial Staiements. TRUSTEES, REMUNERATION AND BENEFITS There were no trustees. remuneraiion or other benefits for ihe vear ended 3 Isi January ?0?6 nor for the year ended 3 1st JanuaTV ?0?5. Trusiecg, txpenses Travel expenses of £1.861 have been claimed by 4 direciors in respect of trJvcl to rneeting5 and attending events io promoie ihe Trusts cause. There were £1.388 of iwsiees. expenses paid for the year ended 3 1st January 2025. Page 8
CHLRCHWARD COLTYTY TRbST LTD A COIMP.4NY LIIMITED BY GUARAN'TEE NOTES TOTHF. FINANCIALSTATEMEYTS- CONTINUED FOR THE YEAR ENDED31ST JAIYUARY 2026 STAFF COSTS During the year ihe Charity did nol cmploy anyErf)dy and no salaries were paid. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrcstrict¢d fund Restricted fund Total funds INCOME AND ENDOWMENTS FROM Donations and Sales 53.879 53.879 Total 53.879 53,879 EXPENDITURE ON charibIe expenses Total (4.707) {4.?07) NET INCOMEI(EXPENDITURE) 49,677 49,677 RECONCILIATION OF FUNDS Total funds brought forward 325.516 325.516 TOTAL FUNDS CARRIED FORWARD 375.193 375.193 TANGIBLE FIXED ASSETS Asset undcr construction COST At 1st February 2025 Addiiions Disposals 106,?19 40.727 At 3 1st January ?0?6 146,946 DEPRECIATION At I st February 2025 Charge for year Ai 31 si January ?026 NET BOOK VALUE At 31 si January 2026 146.946 At 31 si January 2025 106.219 Page 9
CHL'RCHWARD CQVIN'TY TRUST LTD A COMP.4NY LIMI ITF.D BY GUARANTEE NOTES TO THE FINANCIAL STATEMEYTS- CONTINUED FOR THE YEAR ENDED 31STJANUARY 2026 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR ?026 2025 Prepal'menis Gift Aid recovcrdble V A T recoverdble 7.739 5.138 3.529 27,738 12.877 CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2026 2025 Accrn¢d expenses 11.186 18.944 11.186 18.944 MOVEMENT IN FUNDS Net movement in ndS At l 725 Aiil.1.26 Unre5tricttd funds General fiEnd 375,193 69,157 444,350 TOTAL FUNDS i75,19) 69,157 444,350 Nei movement in rtd$, included in th¢ abov¢ ar¢ as follows- Incoming resources Resources expended Movemeni in funds Unreslricted funds Gcnerdl lund 75.609 16.452) 69.157 TOTAL FUNDS 7).609 6.452) 69.157 Pagc 10
CHURCHIVARD COUINTY TRUST LTD A CONIPANY LIMI ITF.D BY GUARAINTEE NOTES TO THF. FINANCIAL STATF.MF.NTS- CONTINUED FOR THF. I'F.AR F.%DF.D 31STJANUARY 2026 MOVEMENT IN FUNDS- contied Comparatives for movement in funds Nct movernent in funds At l ??4 Ai 31.1.25 Unr¢5tricted Funds General fund 3?5.516 49,677 375.193 TOTAL FUNDS 3?5.516 49.677 375.193 Compardiive nei movement in fund4 included in the above are as follo,5= Incoming resources Resources expended Movement in fund5 Unre$tri¢t¢d fund5 General fund 53.879 14 ?02) 49.677 TOTAL FUNDS 5i.879 {4.?02) 49.677 A current year 12 monihs and prior year l? monihs combined posiiion is as follows= movement in funds Ai 1.2.24 At31.1.26 Unre51ricted funds Gcnoral fund )?5,516 118.834 444.350 TOTAL FUNDS j75.516 118.834 444.JS0 A cutTeni year 12 monihs and prior )'¢ar l? months combined movement in funds. included in ihe above are as follows.. Incoming resources Resources expended Movemeni in funds Unrestrictcd funds General fund 1?9.488 10.654) 118.834 TOTAL FUP4DS 79.488 10.654) 18.834 Pagell
CHURCHWARD couf*TY TRUST LTD A COP+lPA%I Y LIMITF.D BY C.VARAN'TEE DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THF. YF.AR EYE DED 31ST AUGUST 2026 ?026 2025 INCOME AND ENDOWMF.NTS Donations xnd sales Donatrons Gift Aid Sales Donated goods Other income 60.728 13.632 4?2 9.i48 877 563 75,609 53.879 Toi81 incomlng resources 75.609 5).879 F.XPENDITURE Charitable expenseg Fundraising trndiTtg- ¢osi of goods sold Oiher fundrdising aciivitie5 Publiciry and advertising Postage Travel expenses Admini%traiion AccouDtan¢y Build costs Other 155 2?3 205 352 1.971 85 156 538 408 1.435 794 535 157 550 1.800 6.374 4.108 Fin8nc¢ Bank charges 78 Totsl re50urees expendtd 6.45? Net incornel(expeAditure) 69.157 49.677 This page does noi form part of ihe Matuiory financial stsiements Page 12