2024-03-31-accounts

Trustees’ Annual Report for the period

From 1[st] April 2023 To 31[st] March 2024

Charity name: GOWRIE Locomotive Trust CIO

Charity registration number: 1185962

Objectives and Activities

	SORP reference
Summary of the purposes of the charity as set out in its governing document	Para 1.17	To advance the education of the public in the history and heritage of, in particular but not exclusively, the narrow gauge steam locomotive GOWRIE, the original of which was built in 1908 by the Hunslet Engine Company of Leeds (works number 979) for the North Wales Narrow Gauge Railway to Fairlie’s Patent Design by constructing a replica and displaying and operating if for the public benefit.
Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts.	Para 1.17 and 1.19	Construction of the power bogie frames, design and approval of the new boiler to take into account the amendments required to correct the imperfections in the original design and also modifications to the braking system to allow the locomotive to operate on a wider variety of heritage railways. Production of patterns and castings for the cylinders and other parts. Development of the stock for the exhibition stand and products for sale
Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit	Para 1.18	Construction of the replica locomotive has progressed during this period. The main public benefit will come when significant parts and eventually the whole locomotive can be displayed, exhibited and operated.

Additional information (optional)

You may choose to include further statements where relevant about:

	SORP reference
Policy on grant making	Para 1.38
Policy on social investment including program related investment	Para 1.38
Contribution made by		There has been a significant contribution

volunteers	Para 1.38	by volunteers dealing with the machining and assembly of parts made by specialist contractors. One of the trustees has been responsible for making the necessary amendments to the drawings which will make the locomotive work to the best of its ability and allow it to run to modern safety standards and requirements.
Other

Achievements and Performance

	SORP reference
Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole.	Para 1.20	Preparation and assembly of the power bogie frames along with the trailing bogie. The fabrication of the bunker has also commenced. The production of the patterns for and casting of the cylinders by outside contractors. Machining of various ferrous and non- ferrous parts. This work being carried out by volunteers. We have attracted new volunteers both young and old to help with the construction and machining of parts. In all cases the volunteers have utilised their existing skills, but have also been able to pass on their skills to others and learn new ones from other volunteers. We have consulted and taken advice from the Ffestiniog Railway over the construction of the firebox and with CTL Seal regarding the construction of the power bogie pivot. Further development of the website to inform the public of our progress. Production of update leaflets for handing out at any events we attend, giving the history of the original locomotive and explains ways in which they can help the project. We have extended the invites to the public to become Friends of GOWRIE by the attendance at various events around the country and articles in the various railway magazines. As a Friend of GOWRIE at a cost of £20 per year, they receive 4 quarterly magazines detailing the progress of the build and an invite to visit us at the workshop to view progress. For those who want to support the project further for a one off subscription of £500 or 24 payments of £25 they will receive the magazines, invites to visit the workshop, an exclusive David Charlesworth framed print of GOWRIE in

the Aberglassyn Pass and a ticket to ride behind the Locomotive at its launch event. To raise awareness of the project we attended events at Statfold Barn Railway, Welsh Highland Railway, Threlkeld Mining Museum, Hengist Project Open Day at CTL Seal, North Staffordshire and Cheshire Traction Engine Club Open day and Claymills Pumping Station, with the display and sales stand, items for sale were totally revamped and the range extended so that more money could be raised for the project. We also took out and ran the 5” gauge model of GOWRIE owned by one of the Trustees, to promote the project at events held by Statfold Barn Railway, Sheffield Society of Model Engineers, Welsh Highland Heritage Railway and North West Leicestershire Society of Model Engineers.

Additional information (optional)

You may choose to include further statements where relevant about:

Achievements against Para 1.41 objectives set Performance of fundraising Para 1.41 activities against objectives set Investment performance Para 1.41 against objectives Other

Financial Review

Financial Review
Review of the charity’s financial position at the end of the period	Para 1.21	Opening balance 01/04/23 £33,120.15 Closing balance 31/03/24 £36,620.74
Statement explaining the policy for holding reserves stating why they are held	Para 1.22	We aim to hold a balance of £2,500 in reserve at all times to cover any emergency expenditure
Amount of reserves held	Para 1.22	£2,500
Reasons for holding zero reserves	Para 1.22
Details of fund materially in deficit	Para 1.24
Explanation of any uncertainties about the charity continuing as a going concern	Para 1.23

Additional information (optional)

You may choose to include further statements where relevant about:

The charity’s principal sources of funds (including any fundraising)	Para 1.47	We have raised money from Friends of GOWRIE subscriptions, along with regular subscribers, or followers making one off or regular contributions. Sales made from our display stand at promotional events.
Investment policy and objectives including any social investment policy adopted	Para 1.46
A description of the principal risks facing the charity	Para 1.46
Other

Structure, Governance and Management

Description of charity’s trusts:
Type of governing document (trust deed, royal charter)	Para 1.25	Constitution
How is the charity constituted? (e.g unincorporated association, CIO)	Para 1.25	CIO
Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees	Para 1.25	New Trustees are selected by existing Trustees but acting as members as detailed in the constitution

Additional information (optional) You may choose to include further statements where relevant about: Policies and procedures Para 1.51 adopted for the induction and training of trustees The charity’s organisational Para 1.51 structure and any wider network with which the charity works Relationship with any related Para 1.51 parties Other

Reference and Administrative details

Charity name	GOWRIE Locomotive Trust CIO
Other name the charity uses
Registered charity number	1185962
Charity’s principal address	6 Shipley Rise Carlton Nottingham NG4 1BN

Names of the charity trustees who manage the charity

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20	Trustee name	Office (if any)	Dates acted if not for whole year	Name of person (or body) entitled to appoint trustee (ifany)
	Alan Freebury	Chaiman
	Marion Allen	Hon. Treasurer/Secretary
	Andrew Martyn GeoffreyAshworth	Trustee
	David Harland Smith	Trustee
	Paul Stock	Trustee
	John Taylor	Trustee
	Joseph Evans	Trustee
	Nigel Freebury	Trustee

– Corporate trustees names of the directors at the date the report was approved

Director name

Name of trustees holding title to property belonging to the charity

Trustee name Dates acted if not for whole year

Funds held as custodian trustees on behalf of others

Description of the assets held in this capacity

Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects

Details of arrangements for safe custody and segregation of such assets from the charity’s own assets

Additional information (optional)

Names and addresses of advisers (Optional information)

Type of Name Address adviser

Name of chief executive or names of senior staff members (Optional information)

Exemptions from disclosure

Reason for non-disclosure of key personnel details

Other optional information

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Marion Allen Signature(s) Alan Freebury Marion Allen Full name(s) Alan Freebury Position (eg Secretary, Chairman Hon Treasurer/Secretary Chair, etc)

Date

28/01/2025

GOWRIE LOCOMOTVE TRUST CHARITY NUMBER 1185962

Accounts 1[st] April 2023 to 31[st] March 2024

Income Merchandise Sales/Events Individual Donatons Gif Aid Bank Interest Total Income Expenditure Motor Expenses Transport Directs Equipment Hire Merchandise Computer Sofware Advertsement/Website Printng Postage & Statonary Insurance Bank Charges Rent Accountancy Total Expenditure Excess of Income over Expenditure	2024
	£ 2,075,35 60,061.23 2,406.13 766.86
	65,309.57
	612.17 106.00 41,923.48 207.00 2,458.94 162.00 869.29 1,485.99 8,058.88 67.64 11,160.00 380.00
	67,491.39
	(2,181.82)

GOWRIE LOCOMOTIVE TRUST CHARITY NUMBER 1185962

Balance sheet

Current Assets

VAT Current Account Nat West Account Savings Account Virgin Money PayPal Pety Cash HMRC Current Liabilites Discrepancies Accruals Net Current Assets/Liabilites Balance Brought Forward Net Proft/Loss for the year		2024 £ 4,723.14 786.73 252.48 4,216.02 18,146.98 19.12 49.00 5,000.00	2024 £ 4,723.14 786.73 252.48 4,216.02 18,146.98 19.12 49.00 5,000.00
			33,193.47
		(3,507.27) 80.00 (3,427.27) 36,620.74 38,802.56 (2,181.82) 36,620.74	(3,507.27) 80.00 (3,427.27)

Examiner’s unqualified report (for a non-company charity preparing receipts and payments accounts) with a gross income of £250,000 or less in the relevant financial year.

Independent examiner’s report to the trustees of Gowrie Locomotive Trust

I report to the trustees on my examination of the accounts of the Gowrie Locomotive Trust for the year ended 31 March 2024 Responsibilities and basis of report. As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Independent examiner’s statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or

2. the accounts do not accord with those records.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report to enable a proper understanding of the accounts to be reached.

Signed:

Name: Shirley Barnett MAAT

Address: Avalon Accountancy Dishley Grange Loughborough Leics LE11 5SF Date: 27 January 2025