Chvlty rry1strm numbEr 11851x13 (Eniland and Wale5 PRICKWILLOW ENGINE MUSEUM CIO ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
PRICKWILLOW ENGINE MUSEUM CIO LEGAL AND ADMINISTrATIVE INFORMATION Trustee5 Paul nharn Paultr Cxwtham Michad PerTrberth Lesile Walt (Awlnted 1 November 2Q41 Charlty number IEn¥land and Wales) 11853 Reglstered offlce Maln Street F*ickMIIow Eiy CB74UN Independent examlner l G C Plper. partr Vthltlngs LLP Gecffy Court Bartholeme•ts Walk Ely Cambridgethire CB7 4JW
PRICKWILLOW ENGINE MUSEUM CIO CONTENTS Tru5tees' report Statement of Trustees. re¥tffjlbllltles Statement of financ6al actfvlties Statement of flnanclal posltlon Notes to the flnandal statements 9.16
PRICKWILLOW ENGINE MUSEUM CIO TRUSTEES. REpoirr FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present 1r amual rekKrt and financial statements for the year ended 31 December 214. The financlal statements have been prepared in acc(ffdance with the accountlng pjllcies set Ixrt in note I to the finandal statements and ccrfnpiy with the charitys governing dc(ument, the Charities Art 2011, FRS 102 The Flnancfal RekWJrtin4 Standard akylicabie in the UK and Rewblic of Irelan and the Charities SORP -Accounting and RepJrtln4 by Charltles: Statement ol Ikc(wnmended lactlce apptlcabie to charlties prepartng thelr acccwnts In accordance with the Financial Remin¥ Standard aKFiicable in the UK and P4ublic of Ireland IFRS 1021" Objethes aftd actmtles The objects of ihe CIO are to aowce the of wbtk In the hlsW of land dralnage, cuwt water management and Ilfe In the East Ingllan Fens, the . 11 I Preservation and oteCtI of draiage engine5 and wnps. the &Jildln8s ivt th?ch they are lo¢ated 121 The wovlslon and maintenance of a museum to coilert. preserve and display tje Co',".erticS and artefacts The charity ts a n(.orIt mdng LKrt self fuThtiing w1an1satfj that need5 to werate funds to ensure Its Sustalnablllty. Ail inc(wne generated go to preserve and irn[e the for future audIee1 to enjoy. Ilc beneflt The trustees conflrm thty have referred to the guidan In 17 of the Charltle5 kt 2011 and the Charlty Commission general guidance cffl wbiic benefit reliertS the CIO'S objectfves and actlvltles and In planning the tthlic benefit test. Ithich they have kept in mfnd in olalal planning. Actfvltles The Museum. 7thich has beelr reArded renewed kuedfted Status fn 2025. 15 thtlreiy by volwrteers In tem of day to day opening runnTn4 and exhTbitityts. fund ra151r4, a1 wl on restoring and malntalnlng the engines, ]ldIngS, and other exhibit5. The l+luseum opened from Easter to end Septvnber fn 2024 with three rAar opening days a week. The enlarged leaflet again used in 2024 to distribute to local h05telries and Lmxt yard5 and w51tor centre5. as weil as being picked up by r wsltor5 for infom)ation on open days and events. Tr webpages, facetrf** other medla Jtlets are havtng an Increa5fng aLtdfence a5 pe(ple use Lm.line searche5 lor TrrfrAmatkn.
PRICKWILLOW ENGINE MUSEUM CIO TRUSTEES. REPORT (cOriNUED> FOR THE YEAR ENDED 31 DECEAIBER 2024 The season started w(th a Special P4m Day on Easter Twlth the adftk of ChIldren Actfvltles and portunity to meet our Easier PAJnny and receive an Eastff Eg8. The ensine5 were run on the last Sunday In the month frcn March to Qt(r. wlth cia5slc vehlcle5 Invlted to an Informal car 5hm¥ on these days frNn Aprll to Seplember. As wtth all 5Fedal eits and englne5 days, hot and cold f(#)d wa5 available fmm the calé. New thts ar was a Sdence Day wfth Iree adm1551(fft l(Y all heid In kne. See actIlIeS and Beneral play aCtitIeS were avallable the enjoymwt of farnflles. We celebrated the 1(XMh blrthday ol the hrlee$ engine ) September wlth a spedal cake and dlsplajs of the thange5 In the engine h[ and PrichNAllow year5. The popular Chrt5tmas Spedal wfth Father Christmas and hls Ell meetlng the vls1tor5 arKI gmng presents to the chlldren was held In December al¢Mg with craft a¢ti¥itles. craft stalls and model exhlbtt1u. A'tractor road run. arri4 at the ALsn for lunch was heid in W"1 and wa5 very well YJFP)rted again. We heid wNlthops for wfmary 5dKKAs. Inc1lIng Wlnd Steam and Dlt5d a Rrver Worksh. We welcomed private grjp5 including out ol hwrs NriSTts. with engine njns. use of meeting spa and a selection of lunche5. The Dralnage Board Ltsed the meeting facilitTres Icff tllr varicws Tri-anNL Pwd meetlrws. The I)1 musfc clikn, wn by scme of our mwnbers, cryrtlnd to hdd monthly acoustlc mu51c nlghts In the Museum all year except July and AUt. and there is LtyJally a go141 turnout of musithJn5 givmg bjth new and experlenced perfcrn an Ippytunlty to wfonn In a relaxed settlng. The December event th seasonal mu57C was especially entertaining. The '11X) Club., wthlch was rtarted fn May 2021, contlnued for a further year starting in May 2024, with 52 members of the Club payins £5 per M¢th to participate in the Y draws. 45% of the taking5 are used for the piize fund whlch Includes an extra annual draw a5 I1[ a5 the mrffithly dr¥. Thls ts Ilcenced wtth East Cambridgeshlre Dixrfjct Counal and quartwiy retum5 are made to the CLwJncil. Achlevements and perfombance Si8ni[icant octivities ond ochlpvements asolnst LibJecthYs The akyJTntment of the new trustee in November went tts fulfilling the alm of future wcofing and forward plannfng and ft lowers the average age of the trLffiee bDty. Sharon 15 a very artlve vdunteer as well as undertaknn8 trustee duties, and could take over the accounts if the need ar. Continuing the (Yryoin8 redurticffj in fwnt, the in diway cabifftts ha5 been changed to LED and Is actlvated by HR sensor5 $0 that the Ifghts are lY M en pecyle are louklng at the exhlblts In the cabinets. Thls was a8aln funded the asslstance Irijffl small yants fd5 from hrnims In CamlJrldge5hlre, whlch were received early fn 2025. The upper extenSIL has been events and group b(Kkngs, Ixrt stlll rx been able to get I)dIng for a lift to be able to make full use of the facllities. We need to check with anYe making bookN)gs for the area that the participants can manage the stair5. llfftment of diwiajs and tanwary exth.blts is also limited by what be Man up and <kJwn the steps. Volunteers continue their maTntaknlng and weseThing the exthfbits ar#J tIldIng$ promding interpretatlon for the exhlbits, and restnI further engine5 and applances. llajor maintenance work5 Started the Shand Mason steam flre engine in 2023 are nearng c(XnpIetf. In 2025 we have obtained a new cabin for storage. which is fn5ulated and leakwr¥Jf. inuedlbie 5014 total hr5 gr¥en to ¥dteerfng for the by scffie 40 volunteers. indudlng the Twstees. The number of vlsftors to the and events durkng the year, slmllar to 2023 at 22CiI, positlve ccffnments abt the wryk and frieThJly attitude ol the trustees and Voi)teers. Income was generated from admiss11, the cafe and $31e5 frcffl general visftw5 and grcwts. and dat75 fr(n SLsprKter5, to sustain the Museum and its objectfve5.
PRICKWILLOW ENGINE MUSEUM CIO TRu¥fEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2024 Ftnanclal revl•w All the CIO'5 funds heid at 31rt DecemLr 2024 are genernl unrestrlcted fund5, vthlch are ewdalAe at the discretlm of the Trustees In furtherance of the objects of the charlty. ch funds may be held In order to flnance both working capital and capital investments. The Charity has C57dered the requirerrthts to maintw"n free reserves has ctyKluded that the aF¥Jroylate level of retained workln8 capital lor the lime being Is 5ti11 £5,1)xJ. Th15 amwnt wTrll su5taln the lIArM for a shDrt rtw1 (rf shortfa115 in Int(Nne and provide a reserve for ary building malntenance issue5 or enne trKeakdowTr costs, wthich wwld thth te reptaced with fund rai51ng. E2,¢XQ was allocated for redectxaticffl and Ser1 rna1ntenae of the tl1ng. txrt as repairs are also needed the exterior. we will be applw"n8 for Srant assistance to undertake these ertra Wo5. A further £5(Kl was allcuted fcy electrfcal and FT repair51repiacements'. £5{ for ottw on the cservatION and malntenancel repalr of the englneslexhlblts for the c19 year. Grant fund5 recelved lor spec¢flc projerts are accounted for separalely for ccrfnpietion of lIe projects. At the end of 2024 aFT)roxlmately £2.(IlJ was alIcted to wdatin8 shc¥) d75play area. It was expected that £5,1 could be a twtrlbutlon towards a Ifft and the repafr when ardylng for grant fundlng. Having carried tyjt the ffnancia( rellew. alltyrting fr the irthning fLmd5 In the first stx MthS of 2025, the Trustee5 are confident that all 2025 costs can be covered frwi (w reserve$ and are p05ftive abrt the future. Goins Coern The alm of the CIO Is that admIssI charges and IrKLYne ITryn grp5. the café and shop wtll cover the bH51c running costs. overheads and maintenance of the museu bJildFni and exhibils. wlth any surplus funts bein8 used to enhance ihe scy of dlsplays and ¢tinuallY upgrade the to help It appeal to all ages. The dIatIonS from wr 5UPPCrteY5 help with the Improvement5 to keep the lkneum relevant. Total rffefpts durin8 the year reStricted funds totslled £29.11)4 12023 . E26,9241. Total exFenditure durfn8 the year on unrestricted fLd5 totalled £22,036 12023 - £28,443). rall, the Tnjstees have consldered the at)ove and are crfent that the CIO to be a go1 t(eM over the xt 12 th$. Prtndp71 fundlns sQUrtes The aim ol the CIO 15 that adrnission charges and income frixn sr•Jpss the cafe and shop vrill cover the basic njnnlng costs, overheads and malntenance of the ml bulldln8 and exhlblts, wlth any surplus funds beln# Used to enhance the Scope of d15plais and contlnually upRrade the I•euM to help If appeal to all a¢e5. Total receipts durfng the year on restricted funds totalled £0 12023 - £2,IXIJI arKI unrestricted funds totalled £29,IM 12023 - £26,924). Total expendftLtre durtn8 the restrirted lunds totalled £012023 - £2.(XXII and unre5trlcted fund5 lotalled £22.03612023 - £28.4431 1>4erall Trustees have C51dered above and are c(w>fldent that the Ch) to be a 8ofng concem over the next t2 Thjh5. A4aJar rtsks The Trustee5 have examined the rnaj strategic tSInesS and operati(fflal rt5ks vhich the CIO face5 and cMfl that 5y5tems have been estalAlsed to enable regular reFQrt5 to wc#1 so that gKh r15ks are cortfnu051y monltored and appropriate steps can be taken to lesson these risks. The maln rlsk 15 contlnuing to Srnw the visltor base to Increased ct)5ts. SLth a5 elettriCTty, kn several Inltlatlves have been put in place to reduce power crMptI, vthich also reduces wr Carb ftPrint. A review six months into 2025, after rwiing al Easter and with the mrmthly enwne run days established , shuwed a p051tive start wtth gml general visitor nLYnbw5. grw LY*Jkings and gener($ (lonation5.
PRICKWILLOW ENGINE MUSEUM CIO TRUSTEE5' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2024 The CIO Foundatfon th6rty w45 e5tabltshed lry c(VrtftUtl th 22 1019 and 15 re8lrtered th the Charty Commts5ioner5. thTty rryFwatfQ number I1853. The CIO was set up lo merye wlth the FYckiv111aw Englne TTWt. whfch tc4)k over the activfeies of the Trust on 1st 2021 The tlustees sefftd the yar and up to the date of SIat(e of the finarKlal statements were: Paul nharn Paulinè Dunharn Allchael Penberth Leslie Walton Sharrm K[ndltydeS Iwnted 1 Novembw 20241 Recnjltmenr tsnd t7wlntment of tnuiees The management of the tharlty ts the re91ty of tt Tntstee5 Tfvtho ¥e ekecteo and co-opted Un the terms of the C&ytf4rti. The CIO ha5 Th) ernFl5 and Trust$ c(YThnittee are not remtell fcf thetr t1. TTh5tee5 •re crm5idered to ne the key management of the CK). The CIO accepted the .LfafQT of the as5et5 and Ilabllltle5 01 the Prlcklllow Enzfne Trust w 25th Felry 2020 and agree¢ to Use the 455er5 for the purp)se5 sfmflar to those of the F11ckivlllow Englne Tnth. After meryer l Jènuary 2ty2f, the CIO the assets tranrferred from {1(1 Ewne Trust. The Trustees are rty)Mslble for the dectslfms of the CKI Indudlnq thjthes aCc£ts. The Trustees of t cio a fts wly votfns mernber5, but the CStItUtI all(wts the Trustee5 to deate any of tt)dr pfftrs to a c(¥nmlttee. mded o mlninwjm of c tritstee ts a mertr of sald ctynmfltee. Relotion5hlp wlth wlder nttwork The trustees w(• clLsdy with tlT muswn Melli, Ellie Mhe$. wP) 15 at Ely mJM and Erntna Buniwry, the Develwent ¢Jffi"¢e fw Cambrfdgeshire, base(l at (¥ntrffid8ahi CLWnty c<1. They partlrlpate In SHARE tralning and recefve adthtlonal frDm them. The Musw Is alw a rneM dA1. On Cambridgeshi. F¢nl¥d Ie[m. the Ilerltage Enr*erina and East Cambs Grow). TheTN Date..
PRICKWILLOW ENGINE MUSEUM CIO STATEMEKf OF TRU5TEES' RESPONSIBILrriES FOR THE YEAR ENDED 31 DECEMBER 2024 The trustee5 are re5$1b1e weparlng the Trustees. Pwt and the Ilnancial statements In ac¢ordance Mth aWicabie law and UnTted Klngdom AcCnting Standard5 Iunited Kingdcrfn Genernlly Accepted Accounting ttactlcel. The law appllcabie to tharities in En8laAd and Wale5 requires trustees to yepare financial statements fc each ffnandal year whlch 9lNP a true and falr vlew of the state ol affalrs of the charty and of the Incomln2 rescAJrtes and application of resources of the charlty for that year. In yepar(ng these llnaraI statements, the tnjstees ère requlred to: . select sultable acctyjntlng Fdiaes and then aFyly them cw5iStently> - obswve the methLNts and prfndples In the Charltles SORP- - make judgements and estlmates that are reasonable mIent. state whether aFplicable acc(Mting standards have been fcilowed. subject to any material departures disclosed and explained in the finarKlal statements: aTh . prepare the flnanclal 5tstements on the w.ng coreM basts unless it is inapprwate to presume that the charty 1{ ttlIKE in operatilm. The tru5tee5 are resp0Tr5ibLe keepin8 suffident accounting recLYd5 that thsdose wlth rea>able accuracy at any time the financaal pc01t1( of the charity and enable theffl to enyjre that the financlal statements c(xmtAy with the Charities Act 2011, the Charity (Acccwits and RepNtsI Ulatic$ 2(X18 and the provlsion5 of the tnt deed. They are a150 restxjnslbie for safeguardlng the assets of the dwlry ar¥J frA taklng reasonable Steps for the prevention and detection of fraud and other irrewlarftfe5.
PRICKWILLOW ENGINE MUSEUM CIO INDEPENDENT EXAMINER'S REPORT TO ThE TRusfEES OF PRICKWILLOW ENGINE IAUSEUM CIO I rert to the trustees C my examfnatkn of the firtandal Statements of fvlckw11lt Englne CIO lthe arffy) for the year en¢kd 31 Decrntber 2024. Rwxlbllftles and basls of rwyt As the trustees of the charity you a rewible f( the of the h"nclaI statements In accordance vAth the requirements ol the CharitiesAct 2011. I rewt In respect of nby examinatkn c< tl tharlty's fIn1 statements carrkd <¥Jt sectkn 145 of the Chadtles Art 2011. In Car9 wt my exarninatlth I h¥4e follfftd the DtrethoAS 8fv ty the Chartty Comi5StrAr under Stttion 14515llbl of the Charitles Art 2011. d•pen¢J•nt •xnlnerfs statem 11)ur attwtlon Is drawn to the f&t that the charlty has wepared the flnaDcJal Xatttnents in accordante wlth the relevènt version of Statetrrrt of Recrynmended Ft&rtFce appllcable to charlrles preparing thelr financFal statements In <cordance wfth the financral Pr•Jrtfn8 Standard appiicabte In the UK ty11c of Irdand IFRS 1021 in pference to A¢COLtry and Reming by Charrts'es.. Statement of Pcrynmended PractKe issued ffi 1 Awll 2005 whlch ts referred to In the ex[ rewlatfons tyjt has ien l uderstaTrd that thls ha5 been done In order lor the firTrancial ststenTrts to Fmlde a trup fair vlew in accordar UK Generally cepted ACCOtIng Prartice. I havv cWeted my exarnlnatiffi. I cLYiflnn thai no matters ha¥t to my atkntlon In with the eXInatIOn grvlng me cause to that In any matertal re¥rt: acctyjftting record5 were kept In re5pert of the charbty as rewired by Settk 130 01 the Charftie5 kt 2011. the financial 5tatiWts do rKrt accord 7phth those rectrds: the flnandal Statements do noi c(wly with the aWlcatAe concemlnq form arJ cffltent pf flnanc6al staternts t OLIt In the Charfues IAcc(W Ar PerMWtsI P4utatlcfft5 2C•)8 other than any reqU6rwt that the hnarKial statemeftts qive a tnR and fair view, is not a matter consfdereij a5 Part ol an Independent examinatlon. I ha no C0M5 af¥1 ha corne acr055 other mattW5 In wlth the examynaDon to whkh att should be drawn fjn thT5 reFKt In order t reathed. able a propw uThJer5tandfng of the ffjnancial Stst•l to l.G.C. Plper, F.C.A Partner Whltlng5 LLP George CIMJrt Bartl#J{em Walk Ely Carnbrldleshlre C87 4JW
PRICKWILLOW ENGINE MUSEUM CIO STATEMENT OF FINANCIAL AcrivmES INCLUDING INCOME AND EXPENDITURE ACCOUtir FOR THE YEAR ENDED 31 DECEAIBER 2024 Unre5tr1¢ted Unrestrlcted Re5trlcted funds fun(ts funds 2024 2023 2023 Total 2023 Notes Income from: ratrOn$ and legacTes Charitable actlwties Other tradlng actmtles 14.318 10,505 7,626 8.793 12,505 7,626 8.793 8.698 Total Incorne 29.Cl)6 26,924 28,924 Expenthture on: Ralsing funds Charttable actmtles 3.194 18,396 4,330 24.113 4,330 26,113 Total expendlture 21.5fAI 28,443 30,443 Net lncomel(experUrel and Move In funds 7,416 11.519) 11,5191 Rect114t1On ol fwid5: Funtd balances at 1 January 2024 274,044 275,563 275.563 Fund balances at 31 December 2024 281,460 274.044 274.OH The statement of finandal artivities IrKiude5 all pins and losses recognised In the year. Ail IrKome and expenditure derive from ¢tInuIng activities.
PRICKWILLOW ENGINE MUSEUM CIO STATEMENT OF FINANCIAL posmoN AS AT 31 DECEAIBER 2024 2024 2023 Flxed a55ets Ftoperty. plant and equ1wl 241,251 241,686 Current assets Irrventorfes Trade and other receivables Cash at bank and In hand 12 13 1.011 838 44,545 J74 35,995 Current Ilabllltl 14 38,7TI 16,4191 16.1851 Net curnt assets ).209 32.3S8 Total assets less current Il*>ltttle5 281,4f 274.044 The fund5 of the tharfty Unre5tr1cted funds 15 281,460 274,044 281,460 274.044 The finandal statements were apwoNYd by the tnrtees Trustee
PRICKWILLOW ENGINE MUSEUM CIO
NOTES TO THE FINANCIAL STATEMEpif5
FOR THE YEAR ENDED 31 DECEMBER 2024
kcountlni pollcles
1.1 knls of prÈparatlon
The flnanclal statements have been yepared In accrrtance wlth the charlty's govemlng do¢LThent, the
Charitie5 Act 2011. FRS 102 Tr Financial Remin8 Standard applicable in the UK and Rewblic of Ireland"
and the Chathtie5 SC ther dIatr are fecogni5ed orKe the charity has been
notlfled of the donatlon. unless prfLMance ccThJlrl(Th rffjAre deferral of the amount. Income tax
recoverable In relatfir to donatl(
PRICKWILLOW ENGINE MUSEUM CIO NOTES TO THE FINANCIAL STATEMENT5 (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlry poNc qCortlnu•dl 1.5 Exwdlture Eynditure Is recogni5ed orKe there Is a legal or constrtiVe thiigation to transfer econ1( bertefit to third party. it is probable thai a transfer of eCOnclC tenefits will be required in settlement. and the amwnt ol the obllgation can be m&iwed reifably. EXpendItU 15 cla5sifie(I by actfvfjty. The costs ol each artiwty are made up of total of dlrect Costs and shared costs. inclLtding surv)rt costs Inl¥ed In ertakIng each activity. Direct costs attribjtable to single activity are allocated th"rectly to that activity. Shared costs tthich contribute to more than one activity and yjpm costs wthith are rt attritrMJtsNe to a single activiry are apportioned tween those actlvldes L•7 a ba5f5 ccvr51stent with the use of rescrtwces. Central staff costs are allated on the b3515 01 tlme spent, and depreciatIc charges are allocated the FXtic of asset's Use. 1.6 Prwty. Pl and equlprnert Ftyjerty. plant and eqUient are inits.ally measured at C05t and thequLrtly measured at cost or valuatlon, net of depreciatfj and any Impalrment Ios5e5. Depreclatlon Is recogn15ed 50 a5 to wrlte off the c05t w valuatl(m of assets less thelr re51dual values over their uselLtI live5 on the foilmng bases: Freehold land and lI[ding5 Leasehold land and Lwildlng5 Fixtures and fittings Not dewe(fated Not depreciated 5 yEar5 Straighr Ilne The lain or 105s arisini M the disposal of w asset 15 deterniined as the dTfference 1then the sale pr(teeds and the canjryng value of the a55et, and is recwised in the statement of financial artivlties. 1.7 ImpalnYnt ol non-current assets At each reportln4 date, the charfty revtews the carrylng amwnts of Its tanglble assets to determine whether there is any ind1¢afj( that those assets have suffered an impairment loss. If any gjch indicatio eSts, the recoverable amnt of the asset is estimated in der to determine the ertent of the Impalnnent1055 Ilf any). 1.8 Inventorle5 Inventorfes are stated at the I0r ot C05t and estlmated 5elllng prlce le55 Costs to complete and sell. Cost cNnprlses dlrert materfais and, %there app4lcabie. dlrect labwr costs and those ovetheèd5 that have been incurred in briryng the inventories to their present location and CondFtiC. Ilems heid for disthbutltsn at or nomlnal COnderatIOn are measured the lower of replacement Cosr and c05t. Net rea115able value is the estfmated 119 ce less all estimated cojts of ctynpieti(ffi and costs lo be InCued In matkntfjng, selllny and dIStrftrArtI(. 1.9 Cash 4nd cash equlvalents Cash and cash equivalents include cash in hand. de[ heid at call wlth banks, short.tenn liquld 7n¥e5tments viilh cffInal maiurities of three or les5. and bank overdraft5. Bank ty4erdrJfts are shown within Lxjrrowings in cUent Ilabllities. 10-
PRICKWILLOW ENGINE MUSEUM CIO NOTES TO THE FINANCIAL STATEMEKf5 (coKfiNUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accourtln8 pollcles Icontlnuedl 1.10 Flnandal Instruments The chat1ty ha5 elected to apply the Kyovtsfcms of Sectlcffi 11 'Baslc Flnandal IrwThts' and Sectlon 12 'Other Financial Instruments tssues. of FPS 102 to all of its finanaal 7nstruments. flnandal Instruments are recDgntsed fn the Ihaltys balance theet when the charlty bec(mI party to the cijntractu41 w0v[sf of the Instrument. Flnantlal assets and liabllltTes are offset, the amcAA)ts EYe5ented In the flnandal rtjtements, ¥then there f5 a legally enforceable right to set off the reco4ni5ed amcwnts and thtre ?5 an Intenti to settle a net basls or to reallse the asset ar settle the Ilabllity mUltaneOLy. I51C Ilnonclal ossets Baslc financial assets, vthith inclFe trade and ottrhw recefvabie5 and cath at¥1 bank baLirKes. are inltlally measured at transaCtic¥) price including transaction costs and are sub5eqLMtly carried at amrtised cost ¢J5ing the effective interor metPKMJ unless the arrangement con5tltuie5 a financing iransaction, where the transa(tlon 15 measured at the we5ent value ol the future receipts d15Ccted at a market rate of interest. FFnancial assets classified as receivatrth within ar are not am(rt?sed. 8asic flnanclal liabllltles Basic financial liabilities, iluding trade and Ot payables and bank lo5 are initially recognised at transattfj prtce lesS the arrangerrtht CstatuteS a flnanclng transaction, the debt Instrument 15 measured at present value of the future paYts discwrited at a market rate of irrtere5t. Financial Ilabllltles classlfled as pardbie wlthln one year are not arTr)rtised. Trade payable5 are L4)llgat1u to r4iy for gLKM45 sttvFce5 that have been acqulred In the ordlnary course of operatlons from supplier5. Amounts payable are classified as current liabllities if payment Is due within e year or less. If r¥)t. they are presented as non-ojrrent liabilities. Trade payables are recogni5ed initially at tran5actiw price and subsequently measured at amCrt7 ccrt using the effective interest method. DererltIOn of financlal Ilqbilitiej Flnanclal Ilabllltles are derecognlsed the chartty's ctrattl thi1gatfL3 explre or are dlscharged or caelled. 1.11 Employee beneffts The cost of any tsed hollday entitlement ts rec(enised In the In vhrfch the emplo.5 seMce5 a recelved. Teminatlcffi bfits are recowlsed Imrnediateiy a5 an expense when the charity is committed to temitnate the employTnent of an emplo>e OT to provide termination benefits. 11
PRICKWILLOW ENGINE MUSEUM CIO NOTES TO THE FINANCIAL STATEMENTS (coimNUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Income frcfft donatS(bft5 and leycles Unre5trfcted Re5trfcted fun05 ltsnds 2024 2024 Ttrtal Unre5trtcted Restrlcted fund5 fund5 2023 2023 Total 2024 2023 DOnatiS and gifts Grants Other 13.481 13,481 9,685 9.685 837 837 820 820 14,318 14.318 10,505 12,505 Unrestrlcted Unrestrlcted funds funds 2024 2023 Adml551on fee5 7,626 Incfft frffil other artlvltle5 Unre5tdcted Unrestrlcted fund5 fund5 2024 2023 Fundraising events Cafe frKome 5,101 3,597 3,733 Other tradtng actlvtt 8,698 8,793 Expendfture on rntslng fund5 Unre5trfcted Unre5tr1cted lunds funds 2024 2023 l(KJ Club prfzes n day expenses Cafe expdItre 111 1,539 981 1.885 3.194 4,330 12-
PRICKWILLOW ENGINE MUSEUM CIO NOTES TO THE FINANCIAL STATEMEKfs {coKllNUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Exp•ndfture on charltable xtmt T(tsl funds Total fuThd5 2024 20Z3 Dlrect costs DeprecTats(m and fMpalrmt Fixtures and littin85 alr5 and malntenance £lectrfcity Water Ingjrance Lease of riverbank ert151ng Sundries Telethone Prtnting Stat1 8ank char8es Other charitable exp¥tre 956 1,465 4.439 3.n9 3.017 3.108 238 4,9)3 250 4,182 1,411 15 329 483 224 6.486 26 420 350 235 2.074 17,293 25,063 Share of supwt and Tr¥ern(e costs (see w ) Governance 1,103 1.050 18.3% 26,113 Analysls by fund Unrestricted funds P•strlrted funds 18.396 24,113 18.396 26.113 Net movement lft funds 2024 2023 The net movement in fd51$ 5tsted after charglngllcredltingl.. Fee5 paydbie for the lThJeFthdent examlnatlC ol the tharttV5 Iln•ndal Statements Depreciatfon of trId wcwty. ant and equitrnt 1.103 956 Trustees None of the trustees ILY ary per$Th cffinected wlth them) recei1 w rennerati(ffl or benefits fr(Yn the tharity durlng the year12023 - nTII. 13-
PRICKWILLOW ENGINE MUSEUM CIO NOTES TO THE FINANCIAL sfATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEIABER 2024 Enwloyees The average monthly nLAnber of emplo5S during the year was: 2024 Number Z023 Number Total 10 Taxatlon The charbty Is exempt frLNn taxatkn M Tts actfvft*s because all its incorne Is apyiled fcr charftable 11 Prttty. pl•nt and equfpThnt Fr•ehold Iwd Le1hnl knd Flxtwm and At 1 Jawary 21n4 lthftlons 203.862 56.315 651 296,641 651 At 31 December 2024 203,862 56.966 297.292 Depredatlon and lfflpalrmert Al 1 January 2024 Deweciatlon charyed in the yEar 54.955 1,086 54,955 1,086 At 31 DeceThthr 2024 56.041 56.041 Carryln8 amount At 31 December 2W14 203.862 L5 241,251 Al 31 tkcember 2023 203,862 1,360 241,686 12 Inventorle5 2024 2023 Finlshed goods and gLM)ds for resale 1.011 874 14-
PRICKWILLOW ENGINE MUSEUM CIO NOTES TO THE FINANCIAL sfATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEhlBER 2024 13 Trade and other recelvables 2024 2023 Arnnts falllry duè wlthln one year". Tax recoverable Other recetvabies 838 820 1,088 838 1,908 14 Current Ilabltttle5 2024 2013 Other taxation and Wla1 security Trade credltors Accruals and deferred inccrfne 163 1,966 4,056 2,885 3,534 6.185 6,419 15 iknrestrlcted funds The unrestricted funds of the charity comwise the ur*xpended balafi5 of donat1 and grants which are not subject to specrflc condi(5 by drffiN5 and grantC15 as to how may be used. These include deslgnated funds vthlth have been set aslde out of reSl[ted lurth by the trustees for speclflc purposes. At 1 January 2024 At31 restyJrce5 expended December 2024 General funds 274,044 29.lJ16 121,5901 281,460 Prevlous year." At31 resources expended December 202J 2023 General funds 275,563 26,924 128,4431 274.044 15
PRICKWILLOW ENGINE MUSEUM CIO NOTES TO THE FINANCIAL STATEMENT5 (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2024 16 Analy31s of net assets bttw) ful Unrestrlcted funds 2024 At 31 December 2024." Ftoperty, plant and eqUIent Current a55etsiiiiabilitle51 241.251 40,209 281.460 Unrestrfct fund5 2023 At 31 O•cr 2023: Property, plant and equIent Current assetsiiiiabllities) 241,686 32.358 274.044 17 Related party trans•CtI( There were no th5c1054bie related rty transartfjry tlurlrry the )ar12023 . r1. 16-