## 



## 

## 

|Reference and Administrative<br>Details||
|---|---|
|Trustees'<br>Report|2to 6|
|Independent<br>Auditors'<br>Report|7to 10|
|Consolidated<br>Statement of Financial Activities|11to 12|
|Consolidated<br>Balance Sheet|13|
|Balance Sheet|14|
|Consolidated<br>Statement ofCash Flows|15|
|Notes to the Financial Statements|16to 34|





## 

|Chairman||||M W Kelly||||
|---|---|---|---|---|---|---|---|
|Trustees||||M Britten||||
|||||R G Chapman||||
|||||C EJones||||
|||||M W Kelly||||
|||||C R Law||||
|||||D SLayland||||
|||||SLea||||
|||||A Lee||||
|||||C Phillips||||
|||||G Thomas||||
|||||G SThornton||||
|||||D Wilson||||
|Principal|Office|||Bolton Street Station||||
|||||Bury||||
|||||Lancashire||||
|||||BL9OEY||||
|||||The charity is incorporated||in England|and Wales.|
|Company|Registration||Number|2023981||||
|Charity Registration||Number||1186648||||
|Auditor||||Horsfield &Smith||||
|||||Tower House||||
|||||269Walmersley|Road|||
|||||Bury||||
|||||Lancashire||||
|||||BL96NX||||





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|STATEMENT O|F TOT|AL RECOG|NISED GAI|NS AND LOSS|ES)||
|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|
|||||funds|funds|2020|
||||Note|f|f|f|
|Income and Endowments||from:|||||
|Donations<br>and legacies||||2,071,164|189,329|2,260,493|
|Charitable<br>activities||||29,600||29,600|
|Investment<br>income||||22||22|
|Other income||||978,849||978,849|
|Total income||||3,079,635|189,329|3,268,964|
|Expenditure<br>on:|||||||
|Raising funds||||(1,881,598)||(1,881,598)|
|Charitable<br>activities||||(1,008,031)||(1,008,031)|
|Other expenditure||||(5,470)||(5,470)|
|Total expenditure||||(2,895,099)||(2,895,099)|
|Net income||||184,536|189,329|373,865|
|Net movement<br>in funds||||184,536|189,329|373,865|
|Reconciliation offunds|||||||
|Total funds brought|forward|||591,616||591,616|
|Total funds carried|forward||23|776,152|189,329|965,481|





## 

|STATEMENT OF TOT|AL RECOGNISED|GAINS AND LOS|SES)||
|---|---|---|---|---|
||||Unrestricted|Total|
||||funds|2019|
|||Note|E||
|Income and Endowments|from:||||
|Donations<br>and legacies|||292,787|292,787|
|Charitable<br>activities|||29,597|29,597|
|Investment<br>income|||17|17|
|Otherincome|||4,104,826|4,104,826|
|Totalincome|||4,427,227|4,427,227|
|Expenditure<br>on:|||||
|Raising funds||7|(3,367,583)|(3,367,583)|
|Charitable<br>activities||8|(1,098,039)|(1,098,039)|
|Other expenditure|||3,587|3,587|
|Total expenditure|||(4,462,035)|(4,462,035)|
|Net expenditure|||(34,808)|(34,808)|
|Net movement<br>in funds|||(34,808)|(34,808)|
|Reconciliation offunds|||||
|Total funds brought forward|||626,424|626,424|
|Total funds carried forward||23|591,616|591,616|





## 

## 

|AS AT91|DECE|MBER 2020||||
|---|---|---|---|---|---|
|||||2020|2019|
||||Note|f||
|Fixed assets||||||
|Tangible assets|||15|4,914,676|5,020,591|
|Current assets||||||
|Stocks|||17|99,722|73,443|
|Debtors|||18|613,957|205,207|
|Cash at bank|and in|hand|19|250,105|288,783|
|||||963,784|567,433|
|Creditors: Amounts||falling due within one year|20|(1,351,715)|(1,681,896)|
|Net current|liabilities|||(387,931)|(1,114,463)|
|Total assets|less current liabilities|||4,526,745|3,906,128|
|Creditors: Amounts||falling due after more than one year|21|(3,561,264)|(3,314,512)|
|Net assets||||965,481|591,616|
|Funds ofthe|group:|||||
|Restricted income funds||||||
|Restricted funds||||189,329||
|Unrestricted|income|funds||||
|Unrestricted|funds|||776,152|591,616|
|Totalfunds|||23|965,481|591,616|





## 

|AS AT31|DECEM|BER 2020||||
|---|---|---|---|---|---|
|||||2020|2019|
||||Note|f|6|
|Fixed assets||||||
|Tangible assets|||15|4,880,944|5,020,591|
|Investments||||1||
|||||4,880,945|5,020,591|
|Current assets||||||
|Stocks|||17||73,443|
|Debtors|||18|520,106|205,207|
|Cash at bank|and in hand||19|241,672|288,783|
|||||761,778|567,433|
|Creditors: Amounts||falling due within one year|20|(540,759)|(1,681,896)|
|Net current|assets/(liabilities)|||221,019|(1,114,463)|
|Total assets|less current liabilities|||5,101,964|3,906,128|
|Creditors: Amounts||falling due after more than one year|21|(3,561,264)|(3,314,512)|
|Net assets||||1,540,700|591,616|
|Funds ofthe|charity:|||||
|Restricted income funds||||||
|Restricted funds||||189,329||
|Unrestricted|income|funds||||
|Unrestricted|funds|||1,351,371|591,616|
|Total funds|||23|1,540,700|591,616|





## 

|FOR THE YEAR ENDED 31DECEM|BER|2020||||
|---|---|---|---|---|---|
|||||2020|2019|
||||Note|6|6|
|Cash flows from operating<br>activities||||||
|Net cash income/(expenditure)||||373,865|(34,808)|
|Adjustments<br>to cash flows from non-cash|items|||||
|Depreciation||||212,485|202,702|
|Investment<br>income||||(22)|(17)|
|Profit on disposal oftangible<br>fixed assets||||(8,992)|(5,691)|
|||||577,336|162,186|
|Working capital adjustments||||||
|(Increase)/decrease<br>in stocks|||17|(26,279)|21,422|
|Increase in debtors|||18|(408,750)|(20,599)|
|(Decrease)/increase<br>in creditors|||20,21|(585,188)|150,802|
|Increase<br>in deferred<br>income|||21|125,202|76,898|
|Net cash flows from operating<br>activities||||(317,679)|390,709|
|Cash flows from investing activities||||||
|Interest receivable<br>and similar income||||22|17|
|Purchase oftangible fixed assets|||15|(44,025)|(215,487)|
|Sale oftangible fixed assets||||9,000|6,000|
|Transfer oftangible assets at net book value||||(62,553)||
|Net cash flows from investing<br>activities||||(97,556)|(209,470)|
|Cash flows from financing<br>activities||||||
|Repayment ofloans and borrowings|||20,21|376,557|(84,951)|
|Net (decrease)/increase<br>in cash and cash equivalents||||(38,678)|96,288|
|Cash and cash equivalents<br>at 1January||||288,783|192,495|
|Cash and cash equivalents<br>at 31December||||250,105|288,783|
|All ofthe cash flows are derived from continuing||operations|during the above two periods.|||





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|estimated<br>resi|dual value, over their expected|useful economic life as follows:|||
|---|---|---|---|---|
|Asset class||Depreciation<br>method||and rate|
|Museum||20to 50years straight||line|
|Infrastructure|and buildings|20to 50years straight||line|
|Office fixtures|and equipment|5to10years straight|line||
|Rolling Stock||10to 50years straight||line|
|Plant and machinery||10to 50years straight||line|



## 



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## 

|||||Unrestricted||||
|---|---|---|---|---|---|---|---|
|||||funds|Restricted|Total|Total|
|||||General|funds|2020|2019|
|||||E|f|E|E|
|Donations<br>and||legacies;||||||
|Donations|from||companies,|||||
|trusts and|similar proceeds|||680,782|189,329|870,111|29,773|
|Donations|from||individuals|174,632||174,632|53,084|
|Legacies||||51,000||51,000|111,371|
|Grants, including|||capital grants;|||||
|Government||grants||1,164,750||1,164,750|98,559|
|||||2,071,164|189,329|2,260,493|292,787|



## 




|6<br>Other inco|me||||
|---|---|---|---|---|
|||Unrestricted|||
|||funds|Total|Total|
|||General|2020|2019|
|||E|E|E|
|Pub sales||290,991|290,991|828,682|
|Refreshments|and catering|157,636|157,636|1,103,662|
|Shops and stalls||4,570|4,570|66,945|
|Fares and charters||243,762|243,762|1,003,654|
|Santa events||92,759|92,759|809,149|
|Footplate experience||12,112|12,112|96,880|
|Other rolling stock income||9,659|9,659|58,209|
|Miscellaneous|income|136,267|136,267|61,904|
|Hire oflocomotives||||50,870|
|Rental income||31,093|31,093|24,871|
|||978,849|978,849|4,104,826|



## 

## 

|||||Unrestdcted||||
|---|---|---|---|---|---|---|---|
|||||funds|Total||Total|
|||||General|2020||2019|
||||Note|E|E||E|
|Wages - generating|funds|||44,523|44,523||45,444|
|Computer software|and maintenance|costs||1,239|1,239|||
|Printing,<br>postage and stationery||||675||675||
|Trade subscriptions||||900||900||
|||||47,337|47,337||45,444|





## 

|||Unrestricted|||
|---|---|---|---|---|
|||funds|Total|Total|
|||General|2020|2019|
|||f|E||
|Opening<br>stock||73,443|73,443|94,865|
|Materials||66,071|66,071|199,895|
|Pub purchases||154,712|154,712|463,209|
|Refreshments<br>and catering||80,902|80,902|442,644|
|Shops and stalls||101,597|101,597|40,000|
|Special events||56,118|56,118|338,494|
|Footplate experience||1,099|1,099|12,349|
|Closing stock||(99,722)|(99,722)|(73,443)|
|Wages and salaries||870,056|870,056|898,956|
|Commissions<br>payable||59,029|59,029|82,497|
|Line operating<br>charges||102,989|102,989|299,346|
|Rent and rates||31,746|31,746|48,324|
|Light, heat and power||63,774|63,774|87,992|
|Repairs and maintenance||108,257|108,257|114,360|
|Telephone<br>and fax||15,313|15,313|13,499|
|Computer software and maintenance|costs|9,169|9,169|12,330|
|Printing,<br>postage and stationery||8,684|8,684|20,038|
|Courier services||1,909|1,909|4,837|
|Trade subscriptions||2333|2,333|4,551|
|Equipment<br>hire||12,471|12,471|12,497|
|Sundry expenses||29,514|29,514|50,642|
|Laundry<br>and cleaning||22,640|22,640|39,673|
|Travel and subsistence||8,266|8,266|14,148|
|Promotional<br>expenses||53,891|53,891|100,436|
|||1,834,261|1,834,261|3,322,139|





## 

|8<br>Expenditu|re<br>on charitab|le<br>activi|ties||||
|---|---|---|---|---|---|---|
|||||Unrestricted|||
|||||funds|Total|Total|
|||||General|2020|2019|
||||Note||6|E|
|Education||||31,413|31,413|32,927|
|Restoration|and repair|||364,706|364,706|504,712|
|Depreciation,|amortisation|and|||||
|other similar|costs|||203,493|203,493|197,011|
|Staff costs||||179,339|179,339|153,445|
|Governance|costs|||229,080|229,080|209,944|
|||||1,008,031|1,008,031|1,098,039|



## 

## 

||Unrestricted|||
|---|---|---|---|
||funds|Total|Total|
||General|2020|2019|
||6|E|E|
|Audit fees||||
|Audit ofthe financial statements|9,692|9,692|5,000|
|Other fees paid to auditors|2,950|2,950|6,350|
|Legalfees|24,866|24,866|17,618|
|Insurance|94,838|94,838|101,862|
|Security costs|73,774|73,774|35,495|
|Bank charges|12,195|12,195|24,103|
|Bank interest payable|83|83|475|
|Bank loan interest payable|10,682|10,682|19,041|
||229,080|229,080|209,944|





|||2020|2019|
|---|---|---|---|
|||6|6|
|Audit fees||9,692|5,000|
|Profit on disposal oftangible fixed assets||(8,992)|(5,691)|
|Depreciation|offixed assets|212,485|202,702|



## 

## 

|12Staff costs<br>The aggregate<br>payroll costs were as follows:|||
|---|---|---|
||2020|2019|
||6|6|
|Staff costs during the year were:|||
|Wages and salaries|1,402,205|1,399,825|
|Pension costs|51,725|72,316|
||1,453,930|1,472,141|






## 

|13Auditors'<br>remuneration|||
|---|---|---|
||2020|2019|
||f|6|
|Audit ofthe financial statements|9,692|5,000|
|Other fees to auditors|||
|All other non-audit<br>services|2,950|6,350|



## 



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## 

## 

## 

|Shares in group undertakings<br>and|participating<br>interes|ts|||
|---|---|---|---|---|
||||Subsidiary||
||||undertakings|Total|
||||6|6|
|Cost|||||
|Additions|||||
|At 31December 2020|||||
|Net book value|||||
|At 31December 2020|||||
|17Stock|||||
||Group||Charity||
||2020|2019|2020|2019|
||6|6||6|
|Stocks|99,722|73,443||73,443|
|18Debtors|||||
||Group||Charity||
||2020|2019|2020|2019|
||6|6|f||
|Trade debtors|49,718|36,697||36,697|
|Pre payments|26|46,327||46,327|
|Other debtors|564,213|122,183|520,106|122,183|
||613,957|205,207|520,106|205,207|
|19Cash and cash equivalents|||||
||Group||Charity||
||2020|2019|2020|2019|
||f|f|6|6|
|Cash on hand|8,433|12,720||12,720|
|Cash at bank|241,672|276,063|241,672|276,063|
||250,105|288,783|241,672|288,783|





## 

|20 Creditors: amounts|falling due within one year||||
|---|---|---|---|---|
||Group||Charity||
||2020|2019|2020|2019|
||6|6|6|g|
|Bank loans|59,096|57,624|59,096|57,624|
|Trade creditors|428,146|441,863||441,863|
|Other loans|56,515|3,182|53,333|3,182|
|Due to group undertakings||668,981|379,309|668,981|
|Other taxation and social|||||
|security|31,501|48,010|31,502|48,010|
|Other creditors|15,091|11,352|13,519|11,352|
|Accruals|217,709|107,429|4,000|107,429|
|Deferred income|543,657|343,455||343,455|
||1,351,715|1,681,896|540,759|1,681,896|
|21Creditors: amounts|falling due after one year||||
||Group||Charity||
||2020|2019|2020|2019|
||6|g|6|f|
|Bankloans|157,462||157,462||
|Otherloans|346,667|182,377|346,667|182,377|
|Deferred income|3,057,135|3,132,135|3,057,135|3,132,135|
||3,561,264|3,314,512|3,561,264|3,314,512|



## 



## 

|Group|||||||
|---|---|---|---|---|---|---|
|||||||Balance at 31|
||||Balance at 1|Incoming|Resources|December|
||||January 2020<br>f|resources<br>f|expended<br>f|2020<br>f|
|Unrestricted||funds|||||
|General|||||||
|General|Funds||591,616|3,004,635|(2,820,099)|776,152|
|Restricted|funds||||||
|Education||||62,553||62,553|
|Aquisition||of rolling stock||126,776||126,776|
|||||189,329||189,329|
|Total funds|||591,616|3,193,964|(2,820,099)|965,481|
|Charity|||||||
|||||||Balance at 31|
||||Balance at 1|Incoming|Resources|December|
||||January 2020|resources|expended|2020|
|||||f|f|f|
|Unrestricted||funds|||||
|General|||||||
|General|Funds||591,616|2,582,365|(1,822,610)|1,351,371|
|Restricted|funds||||||
|Education||||62,553||62,553|
|Aquisition||ofrolling stock||126,776||126,776|
|||||189,329||189,329|
|Totalfunds|||591,616|2,771,694|(1,822,610)|1,540,700|





## 

|Group||||||
|---|---|---|---|---|---|
||||Unrestricted||Total funds at|
||||funds|Restricted|31December|
||||General|funds|2020|
||||f|6|6|
|Tangible||fixed assets|4,725,347|189,329|4,914,676|
|Current||assets|963,784||963,784|
|Current||liabilities|(1,351,715)||(1,351,715)|
|Creditors over 1year|||(3,561,264)||(3,561,264)|
|Total net assets|||776,152|189,329|965,481|
|||||Unrestricted|Total funds at|
|||||funds|31December|
|||||General|2019|
|||||f|6|
|Tangible||fixed assets||5,020,591|5,020,591|
|Current||assets||567,433|567,433|
|Current||liabilities||(1,681,896)|(1,681,896)|
|Creditors||over 1year||(3,314,512)|(3,314,512)|
|Total net assets||||591,616|591,616|
|Charity||||||
||||Unrestricted||Total funds at|
||||funds|Restdicted|31December|
||||General|funds|2020|
||||||6|
|Tangible||fixed assets|4,691,615|189,329|4,880,944|
|Fixed asset investments|||1||1|
|Current|assets||761,778||761,778|
|Current|liabilities||(540,759)||(540,759)|
|Creditors||over 1year|(3,561,264)||(3,561,264)|
|Total net||assets|1,351,371|189,329|1,540,700|





## 

|FOR T|HE YEAR ENDED 31DECEMBE|R 2020||
|---|---|---|---|
|||Unrestricted|Tota Ifunds at|
|||funds|31December|
|||General|2019|
|||6|f|
|Tangible|fixed assets|5,020,591|5,020,591|
|Current|assets|567,433|567,433|
|Current|liabilities|(1,681,896)|(1,681,896)|
|Creditors|over 1year|(3,314,512)|(3,314,512)|
|Total net assets||591,616|591,616|



||||At 31|
|---|---|---|---|
|At|1January|Financing|December|
||2020|cash flows|2020|
|||6|6|
||288,783|(38,678)|250,105|
||288,783|(38,678)|250,105|
||||At 31|
|At|1January|Financing|December|
||2019|cash flows|2019|
|||6|f|
||192,495|96,288|288,783|
||192,495|96,288|288,783|