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 Jan￿a￿V ?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 ￿l￿g fulfilled and we have
slart¢d a ncw ap￿al 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 Me￿handISe 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 u￿ted 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 o￿lon 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 ￿eM￿r5.
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 la￿er
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 7￿6.
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 Ch￿rch￿.ard Counti. Trust Ltd ('the Cornpany,)
I report io the charity trnsiees on my exomIn￿10n 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 resp￿1 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 melh￿S 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 p￿per 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 requE￿d 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 CO￿1PAINY 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 Charl￿ble objefflives at ihe di￿re110n 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
chari￿bIe 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- conti￿￿ed
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