Ch•iity rtyistratlon nwnb•r 259626 IEngland and W4198}
C¢Jnyany regl&tratlon numbtr 00956100
THE BAHAMAS LOCOMOTIVE SOCIETY LIMITED
ANNUAL REPORT AND UNAUDrrED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

THE BAHAMAS LOCOMOTIVE SOCIETY LIMtrED
LEGAL AND ADMINISTRATIVE INFORMATION
Tru$t••$
S CAIsop
G C Bowler
FPGa
D J Guest
G HoYJr¢J
P W Skelon
Pwsnwth
K Vthitmore
J M Wnderbank
Chadty number
25*26
Company nurnber
(I)9561LMI
Reglsl•rod offl
The Shwipen
8 Th• Cmd Hall C(AxI Yard
Heath
Waker￿￿j
West YNkshire
F1 SST
Ind•p•nd•nt •xamlnor
Cra*J Stratford FCA
tJo Simpson Lwiited
Bank Chambws
Market Stre
Huddersfiek
HD12EW
B•nk•rn
Th& Royal Bank of So)Iland PIC
Chalham Customer Ser¥ts Centre
Waterside Courf
Chalharn marits.me
Chalham
ME4 4RT
Sollcltors
MO￿sworth &¥Jhl£*g
17 Yothsh*e Street
Ro¢hdale
OL16 1BH

THE BAHAMAS LOCOMOTIVE SOCIETY LIMITED
CONTENTS
Pag•
Trustees rgFK
Statement ol trustees responyblii*s
IndepeThJenl examinerfs reF*Nt
Statement of finanoal a¢liviies
Balanca sheet
No*s to the fmancyal slatemenls
9-18

THE BAHAMAS LOCOMOTIVE SOCIETY LIMITED
TRUSTEES REPORT {INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 DECEPABER 2024
The trustees present ther annual rewl and f￿a￿la1 statomenl$ for year etyaed 31 December 2024.
The accounls have been p￿pared in aCX4Kd￿(e with the pc4ci•s sat thjt in notÈ 1 to the accounts
and comply Mth the ¢harity's goverrmng doojment, Ihe Companigs Ad 2rth the Slalemenl of
Recommended Pr8dte. 'AttO￿ting and ReF*)iting by Charilies-. issued in March 2005.
Objoctives and actlvltlès
Objective and Policy
The objective ol the Sooely is lo encouiage arKI womole pubk interest in th8 preservatK)n of Ste￿ and other
rai￿aY locomotives and iolh.ng sto¢k togethw wilh ra*4vay ma¢hinery ar¥J oquIpm￿l.
The policy is:_
a) to acq￿r8 and restor• suit8trAÈ raI￿aY k)¢onwkn and rO￿Tha stock. et¢ aThl display them lo the public either
as slaiic or pieferabty workrng exhibils 8nd
bl lo operate a rnu5eum and educatiorhal lauliiy vthich displays ¢onserves the ¢olle¢tw)n ol smaller ar1efa￿S
and explains lo future generations the imFwxl*it p*i rrilway uldusty h8$ played n the iThJustrial. sooal and
economi¢ development of I￿S counlry.
Thè tsustees have paid due regard lo gumknce issued by the Charity CLNnmi55ion in deuding T*that activiti8S the
charity should undertake.

THE BAHAMAS LOCOMOTIVE SOCIETY LIMITED
TRUSTEES REPORT (CONTINUED){INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 DECEAIBER 2024
A¢hlov•m•nts and porfomian
In my last report lor 2023 1 started by rèmarking Ihal year s• 8 1))mplele relum lo normalily for our adtvities
and that our flagship locomotive-455￿ Bahamas" had been muc* in demand working with the RaI￿laY Touri
Company IRTCI. We were eXpeCt￿g a contiruJal*)n of this wilh plans for a ful prwamme of mainline ￿tIvIty for
45596. Unfortunately, this proved lo nol be fulfiled.. within a maltw of w8aks in NM(kJanuary, a ￿urt he￿n9
brought our aspirations to an abrupl h￿1. West Coasl Rai￿aYs. ba$&(l al Carnfotlh. had been in dispute with the
Office of Rail and Road IORR) for some ¢onsid¢rable lime lolk)wing Ihe dear staled aim of the ORR Ihal the use
ol slam door non-cenlfal locked co*￿5 on Ihe mainlir* was at an end. West Coast RaiPways look the ORR to
¢ourt over Ihls #nd lost Ihe case in nN(kJanuary, and il was dear that Ihey needed to ccrfnply wilh the Court ruling
lo wort toward5 operating with cfflty centraly-locked T￿ng stock. Thi$ would involve w(wking Mlh an air-braked
sieam locomotive. Folkjwing this njing "Bahamas" was margwlsed from m8in I￿e opwalion a5 a non-air-
braked locomotNe. All our businèss lli 2023 had bÈen ￿th RTC who onty operate with West Coasl in the UK.
Effectively their market 7Jso ¢hanged overnb3hl by betr4J able lo operale onty with central b)cked coaches and an
aw-braked locomolwe. very much limitw￿ their operath￿ lo the locLJmo1i￿S with comph'ant air brakes.
This meanl thal we had to look for wcKk else￿ we look 45596 to a number of pres8rved (al￿ayS
induding the Sevem Valley Raih¥ay, wthere the knco hauled a very special train in mèmory of Slave Peach who
passed away in Awil 2023 and had been invdved w￿h the loco and lh¢ So¢i&ty sin￿ cw early Dinting days.
Also, there were wsits to Peak Ral a￿1 Nene Vaky Rahlxay twhere Ihe lo¢0 worked dur￿9 speryal events.
Following almost 12 months of n￿-MaIn line vthking we were Ileliyhted lo reo51ablish a relationship with
Birmingh8nFbased vintage Trains, whith led to us oper8tiNJ 2 mainlirte trips with them from Derby to Stratford
and from Biimingharn lo 81&k￿)￿l. We worted wrfh Vintage TraTh during the earty days of operatron following
the lottery-funded overhaul and were pbeased lo be WOrk￿g wilh th•m agan. Th8y have an agmment vrilh the
ORR on the phasing oul of th￿1 non*centra foll1￿ slock.
The Coal Ta￿[ also enioye(I visits lo 01￿ h￿lIage r￿P￿S the Cr8w• Hwitaga Cantre a fomial
handover ceremony of the loco from the Naiional TnFSt to oursefvos was a $￿CIal occasion ￿ we have
looked after the loco since 1973. We also acquired 2 other bx¢y))otives gftgd to us folk)wing the National Trusfs
rationalisation of their collection based at Penrhyn Castle in North Wales. Bolh locomotive5 were built by
Hudswèll Clarke ol Leeds. Wesla" wthe(J al Shollon Steehvorks arKI we have tlaced the kjco under the care of
East LancaShi￿ Rah4way at Bury Twsport Museum. "Hawarden-. a Slalybridge wcwking loco. in now at the
MiddlElon Railway ￿ Leeds not far (rcrfn where the hx4J was bulk. H i8 not OLK intention to pemianentFy (Mn tI￿Se
lo￿5 and in lime they will be gifted lo each of Ih8se raihvays.
Vi￿10r numbers at our museum al Inww ha4E ferna￿d steathy but stdl b8bx pl￿0¥)d ￿ls. thjr Duty Officars
have continued to open the ￿￿seUM on a daly basis and school visits ha￿ also continuèd on a vèry règular
basis. We have worked very dosety in Cctroperatwjn wilh our partrws partKipated in the KWR Spring
Gala with both of our operating locos in steam," 1054 Coal Ta￿ also worked the summer ¢)n wntage trains.
'Bahamas' also ran during the Oejober Beei FeslNal on the KWR. We again organi5ed joint events with our
colleaguès at the Vintaye Carriages Twsl induding parlicwiion in Ihe September Heritage Open Days
behirKI-Ihe-$¢ene$ tours al both museums. Our LearniThJ Coath was again used as a polliNJ station lor bolh the
local elections and lor the General El8ctw)n as wel. Our bcal wjnallors also again held t￿1￿ adv¢ce bU￿#V in
Ihe coach. We have oinlinued to play a major rolè in the Brndford Musèums Group. h￿seUM Development North
and the Bronte Parinership. FollowriThJ finan¢iat support from the A5s0riats"on of Independent Mu5eum5 and
useum Development North on a rewew of our governa￿. an independent report has been issued and
discussed by the trustee$, we are w wnpleMenlw￿ its find￿S to enswe that we are a society ready to
meet m¢xlern challenges.
Financial review
The Balance Shee1 shows the festricted and ￿￿￿tr￿led ol the Society 81 Ihe yearond and Ihe prior
yéar. Notè 15 shows the movèments on restr￿ted funds. At the year-end. unrestricted funds amounted to
£551.051, bul after laking a¢￿Unt of amounls ￿vested in fryed assets less fixed assets relatr'ng to restrthd
lunds. the free reseryes are £470,414, representing approximat8ly 103 Mr￿1hS. expernliture. which the
Iruslees feel is adequate.

THE BAHAMAS LOCOMOTIVE SOCIETY LIMITED
TRUSTEES REPORT ICONTINUED)(INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 DECEAIBER 2024
Fln•n¢lal Ri$k Stratsgy
The Board of Truslees regularly re￿ewS the weas of thaTNial li* These may be summarised as follows.'-
al Insufficienl funds to contThJe operalors and complete wciects.
bl Unaulhortsed Iransadions.
cl F￿l￿re lo safwJuard oui a$se
dl Failure to adhere lo legislation or restri¢#p)ns in v*halever)leld.
el Liabilities are not identified and provision not for them.
T￿s0 risks aro mitigated as fdk)ws'.
The Board mee16 regularly lo oversee the Ws adi¥th5. Major expenthlure has to be apFKoved by the
Board and board members Id¥ectorsl have specific role5 and t￿les. The Board ensures that current projects
have sutfiaent fuThJs available on a rggLAar basis from a variety of sources e.g. subscrptKsn$. (ksnatvjns. &"ft ￿￿,
Shop and museum In¢om¢ grant$. Al present the Cfxnpany has no twowing$. OUT assets are housed
Securely al In9r(wi other than "Bahamas" is securely st¢Med at Haworth. Items stored outside are Secured
and protected from the weather. A modern security system is in plac* and varK>us insurance policie5 including
public liability ale in lorce. The Board keeps up lo dale with kgislalitin and regulalion$ by contact wlh speu'alisls
in ihe preseNat*)n sphere, membership ofval￿S associatKJns and by taking advKe from reC￿lsed experts.
Plan8 for th• ftrtur•
2025 is a very special year for r*lway$ aThJ ¥e ￿￿brai￿$ tskiThJ pla¢e to mark the 2(
annivws¥y since 'LcwnotiM" first ha￿ed a Iwn between Stockton and Darlnglon.. we shall be very muth
involved in these ¢etebr81iMs. In parD￿lar. we are (khghied th•1 -8aham8s" has been invited to join the
Greatest Gatheting Event at the A15tom V4)rks at Derby whiL* is one of the Ma￿ events during the ye¥.
°8ahamas' will also be ¥iS￿ng ihe Sevem Valey R￿K¥ay, North Yorkshire Moors Raikvay and West Somerset
Railway to join in their Rail 200 èv8nts. Thè Coal Tank will also bè out and aboul for Rail 200. Wè aro also agaii
working with Vintag& Trains ￿ mainline operation ￿th -Bahama$' s¢hedule(I to haLd trains over some very
interesting ioutos where the I￿9 has never been WO￿. ff the srtualiL)n wilh Coast Ra*ways changes. we
wrfl be able lo work wilh the Rai￿aY ToLW¥VJ Company again.
Folowing the expiry of the boiler certfficate in September. "Bahamas- was due to undergo overhaul work
following seven years of operation c4) the mainline. have decided to bring forwa￿ what would be Ihe nomal
10-yearty ovwhaul of the loeo and lo start this wcrfk earty ￿ October. It is our Ihal lollowing the last
exlènsivè loltery-furtded ovérhaul this wll ￿ morÈ of a routinè m8intènafteè opÈrdlh?n and to do the work now
mp*es sense in order lo conlinue mwn line are aLw seriously knking al the possible air-braking of the
loco in View of the issues which have resulted in us rH)t be￿￿ at4e to operate with the Railway Touring Company.
Aii-braking would future proof the locomolNe and it to ccffltinue to work on the main line uninterrupted.
Our new mess facihty has prove(l extremely popu* wilh have had lo endute
the cokl 8$ muth as previously and been able lo enjoy and banter ￿ wam $urtounding51 INe are planning
lo imprtsve the visitor expeiience lo Ihe museum and aTe looking forward lo receiving some new exciiing
exhibits 5hortty. Simlarly we contThJe lo inwrove our schools. offer and have achieved an increase in the number
ol sCho￿S wsiting Ingrow. Ow members we our strengih and we are pleased to have recruited new younger
volunteets into our locomotive support cr8w. In adithtw)n. our govèmanc8 review is intènded lo help contributè trj
ensuring that OLK fvlwo is ￿￿¢.
StrUc￿re. governance and management
The Bahamas Loccrfnotive Society Limited rs a ¢ompwy Iwnrted by guaranlee. registered in England as r￿.
9561C(l on 12 June 1969 and is governed by its Memorandurn and Articbes ofAssocialion. The company has also
been registered as a Chanly Edu￿1￿)nal Purrw)w a$ no. 259626 $nce 10 Awusl 1970.
The Iru51ees. WIK) are &so the diredors for the purFrf)se of c(Nnpany law. and who served (kning the year and,
1h the exceplion of H J Peath, up to the date of 5vJnature of Ihe fnan(&il statements were..
S C Allsop
G C Bowler
F P Galwn
D J Guest
G Howard

THE BAHAMAS LOCOMOTIVE SOCIETY LIMITED
TRUSTEES REPORT (CONTINUED}IINCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
P W Skelh)n
H J Peach
P W Smith
K Whitmore
J M ￿nde￿a
(Resigned 12 Oclober 21r241
The Boaid ofTws199s. currently ¢onsislin9 of dire¢1￿ and trustees. holds mgnlmy meeth)gs to manage the
activi￿.eS ol the So¢*ty. Delails of the dw¢¢torsllrusleos are induded in lh& company inf0m￿lI￿n given on the
firsl page of the financial slalemer
A wholy owned subsidiary. Bahamas Loco Trad￿￿ Lii*d. was formed in 1991 with a wothng capital of £5.000.
This company is respon￿ble for am trading aclivitits such as locomotNe hire. eMp￿YMent contracts, books atKI
Swvertir salès. Proffts are transf•rred to the Socièty in rétwn for frae use of Ihè Societys locomotNés and other
The &xi8ty is an organisalion based on vohjntary Wwolvewl. Fortunately. Ihe SorAety is well supported by its
friwds and membgrs aThJ r¢lies on ¥￿nIe¢r labour vtherever pos&ble. Thanks again are due io the dethcalod
le￿ who have opeialed Ihe museum arwj shop a￿1 Cared for the Soc4ety's assels. A small number of paid staff
are wnployed by Bahanas Lcth Trading Lld •) (xJstomer-f*ng and museum role& Othe￿iSe. neither dlfectors
nor members receive any ienwnw8ti0n.
Llquld assets a￿ hekl in current aThJ dwit a(minls wilh various high street bank5 aNI lh• Charib"8s
Official Inveslmenl Fund.
The Society's base was fomierfy kn￿ as Loo) MuseLtm" on lh8 KeIgh￿ aThJ Worth Valley
RaiN¥ay IKWVRI in West Yorkshirè whèrè an èx-midland Ra￿￿Tay goods warehous? has bèèn convertad inl0
a workshop and museum wth finwKial a5Si$tance from Ihe National Lottery Hentage Fund. Thg Irwjrow sile
is continuing to be developed as "Ral Slorf WKI Ihe S(K4ety has re-branded and dtrveloped its museum
there lo prowde the -Engine Shed. component of the atiracthin. IAÈ are h)oking al further developments to
improve the visitor eXperier￿ al the Ingr(pw %¢e inc*Jding a po5￿trAe extension lo the museum buihjing.
Accountsnts
A¢countants &mp$on Wt*)d wll bg ¢onsidgrsd tr re.app￿1ffl¢n1 * fv I￿1h¢0mlng anrKwl ggneial Tr)Wing.
The Iruslees ￿pOrt was aprrfo¥ed by Bwd of Tnjstees.
K Whltmore
Tvustee
Oated.. 16April 2025

THE BAHAMAS LOCOMOTIVE SOCIETY LIMrrED
STATEMENT OF TRUSTEES RESPONSIBILtriES
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees. who are also the dnclors of The Bahamas LOo)Th￿tIVe sO￿ty Limited for the purpose of company
law. alè responsiblè for prèparin9 the Tmslees RepcKi the finanaal stalemenls in acLordance with applicable
law and United Kingdom A(xounlirwJ Slandaids (United Kin9dw Gengrany Accepted Accounting Piaclicel.
Company law requires the I￿￿tee$ lo prewe ffinancial ststements fty each year whth yive a Inje and fair
Vigw of Ihg siatg of affairs of the tharity aThJ of the irthmr•J rvsources and applICa￿On of re50urce5, Ind￿Jing Ihe
income expendilwe. ofthe tharilatle cc*wwy for Ihal year.
In preparing these finanrAal statemonts, the truslees a￿ requwed to."
. select suilablè aCC￿UntI1g OiLies aTrJ then appty them CAinsislenlty:
. observe the methods and in the Charit*s SORP".
- make iudgemenls and eslimales that are reaso￿*1￿ and prLNJent:
. stale whether awAicable UK Accounting Standards have been fo*yw&J. sthject to any materk31 departures
dis¢k)sed and e￿laIned li ffinanfial statements: and
- prepare thè financial statements on tk ¢>)n¢*m basi4 unless il is 1wpprop￿1e to wesumg th* tho charity
wdl conunue in operation.
The tmst8es arè rèsponsble for k88pKry adequate acco￿1￿ records Ihal disdose wilh reasonable accuraq al
any time the finanoal position of the charity en¥￿￿ Ihgm to ensure that financial statements CoM￿Y with the
Companies Act 21)J6. They are a150 respowwlAe kn safeguarding ts assets of the charity and het￿ for taking
reasonable sleps for Ihe prevention and dele¢bon of fraud 8nLI other Irre9￿arIties.
Company law requves Ihe truslees to wepare fnancial statements for each fManLyal year whic* give a trvè and fair
view of the stale of aff84rs of the d)arity and of the resources and appli(2tion of resourc89, including the
income and expenrjlure. of the d￿￿tat* ccthpany lty thal year.
In preparing these fNncial siaiements, the tnjstees are requyed lo..
- sèlect suitable accountin9 poltLxes and then appty them consislènlly:
- observe the methods and Pr￿¢¥PreS in the Charifies SORP".
- make judgements and eslirnales that are [easonab￿ *KI prudent"
- state whelher ap￿Thble UK Acc¢xJnting St￿￿18￿d5 have beeri fokne(l. s￿lIe¢t lo any materHI dèpartures
disdosed and explained in the ffinancial stalements.. and
- prepa￿ financial statements on the gcrfng CC￿ern basi5 il is Thpprowiate Io we5ume that thè charity
will Continue in <￿er3110n.
The trustees are respon￿ble for keepww adequate *oxmling re¢ords th)t dL8dose vrith fe8s0nable a￿Ur3¢Y al
any time ihe financial position of the charty and enaNe them lo ensure that the financial slalemenls compty with the
Companiès Act 2006. They ar8 also respons*Ae for safeguarding the assets of the tharity and hence for taking
r&450nable steps for the provention and de1¢dr￿ of fra4KI and other irre9ulari¢w.

THE BAHAMAS LOCOMOTIVE SOCIETY LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE BAHAMAS LOCOMOTIVE SOCIETY LIMITED
I report on the ￿anrAal statements of the charity f(Y the year ended 31 December 2024. which are sel out on
pages 7 to 18.
Rèspeetlv¢ rtspon$lblltie$ of tw$t¢e$ •nd •x*miner
The Irusle¢5. who are also the diiectgrs of The Bahama$ L0￿M0￿ Sc¢iety Limiled for the purposes of
company law. are iesponsible for the preparalKJn of the a1￿UnIs. The Iwslees conshler that an audit Is not
required lor Ihis year under 5eclion 144{21 ol Ihe Charilie5 Ad 2011 Ohe 2011 Act) and that an independenl
examination is needed. The charrty's gross ￿me exceeded £250.0￿ in 2017 and l am qualffied lo undertak&
the examination beiNJ a qualified member of The InstibJe of CharteredAw)unlanis in England and Wales.
Hawing satisfied myself thai Ihe ¢harily is not Subjèct io wdit uThJer company I￿ and is eligible for indepeThJent
examination, is my responsknility..
lo examine the aLxounls under section 145 of Ihe 2011 Act..
{ii} to follow pro¢Èdures I￿"d down In the General DweCth￿ gp*n by Ihe Charty Commisston under
section 14515llb) of the 2011 Act., ar
(lill to stale vthether parti￿lar matters have c4>rne lo my attentK)n.
8agls of Independent examlnerfs report
My examinalKJn was carried oul in accordance wth the General DireC1￿S given by Ih8 Charty Commission.
examination indudes a review of the aCC￿UntIn9 r8cords kept by the chaiity a compaiison of thè accounts
presented with those records. 11 also ¢wderatv)n of any unusual items 01 disdosure5 in Ihe accounts.
and seeking explanalions from you as trustees concwwg any such matters. The ProCe(￿re5 underlaken do not
provide ￿1 the evidence Ihal would be rewired in an conSequen￿Y no (sjinion is given as lo whether
thè a¢¢ounts present a llrL* and law view. and the repNI Iwnited to those rnatters sel oui in Ihe stalemenl
below.
Ind•p•nd•b)t •xamin•rfs stst•m•nt
In connection wth my examination, no matter has come to my attention..
la) which give5 me ￿8$OnatIe cause to bdieve Ihat in any malerial res￿ the re(wirements'.
lil to keep accounting record5 in accudance with secbon 386 ofthe CompaniesAct 2006., and
lil) lo piepaie finawal stalemen15 rnjrd with the accounltng records. COrnFty wrth the accounting
requirements of seth"w 396 of the Companies Act 2CI)6 ￿th meihods and prinrAples of the
stalemenl of Reccrfnn￿ed Practice.. AccouW and Re￿t￿￿ by Charitw..
hav& not bèèn mel or
{b} to which, in my opinifm, altenlion $MMJkJ bè drawn in otder lo enable a ptopei understaThling of the
financial statements lo be ￿8¢hed.
Crwi Stratlord FCA
clo Simpson Wood Lwnited
Chart￿￿A￿1￿ants
Bank ChaM￿rS
Mathel Slreel
Huddersfield
HD12E¥V
Dated.. 16 April 2025

THE BAHAMAS LOCOMOTIVE SOCIETY LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
LthTrslricted Restricted
fund¥
fund*
2024
2024
Total Unrestricted Restricted
lund$
funds
2023
2023
Total
2024
2023
Income from:
Voluntary 8CtMties
Olher trading actmiies
Invastmenis
220.231
28.727
10,939
128.055
348,286
26.727
79,294
8.946
93.093
6.410
18.415
27.361
93,093
11.569
5.159
Total Income
259.897
136.410
3s￿.￿7
108.449
23.574
132,023
endltur• on.
Raising lunds
S)2
518
518
Charitable acbwti8s
S4,024
14,OSO
68,074
39.375
18,784
58.159
T¢Aal rnsourc•s •xp•nd•d
54,526
14,050
68.576
39.893
18,784
58,677
Net gains on
investments
16.633
16,633
29.687
29,687
Net movement In funds
205.371
138.993 344.364
34.477
103,033
Fund ba1￿CeS at 1 Janu
2024
345.680
401.787
747.467
277,124
367,310
644.434
Fund balantes at 31
Dgc•mb•r 2024
551.051
540,780 1.091,831
345,680
401.787
747.467
The $latemenl of finawKial athwties all and losses recogni5ed in the year. Al incJJme aThJ expeThJilur8
derive from conts"nuing a¢Aivities.
The slatement of financial ac11￿eS also ¢on¥Jle$ wilh the ￿u￿￿nIS ¥w>)me and expenditure accxjunl
under the Companies Act 20(b.

THE BAHAMAS LOCOMOTIVE SOCIETY LIMITED
BALANCE SHEEr
AS AT31 DECEMBER 2024
2024
2023
Fixed assèts
Tangible assets
Inveslmenls
10
11
140,533
120.642
5.000
145.533
125.642
Cvrrnnt a$$•ts
D¢blors
Investments
Cash al bank and in hand
12
13
68.LYJ7
222,719
667.282
38.861
2C*,O87
388.091
958.008
632.839
Credltorn: amounts falmng due wlthi
one year
14
11.710
11.014
Nel CUTrent assots
946298
621.825
Total ass•ts less current Ilabllltl•s
1.091.831
747.467
Thé fund$ ol thè eharlty
Restricted income funds
Unrestrided funds
540.780
551.051
401.787
345,680
1.091.831
747,467
The cornpwy is entiued lo the exemptknn from the a￿￿11 requrernent ccffitained In sed￿n 477 of th8 Ccrfnpanl8sAct
21XJ6. for the year ended 31 December 2024.
Thg Iruslg¢s acknowledge Iheir responsibihbe5 foi th* the keeps account￿g record6 whh* comply
with section 386 of Ihe Act arKI for preparirNJ fin3ncyal slaternenls ￿lch give a true and fair view of the slate of
affairs oflhe company as at the end ol the financial year and of its incoming resources and applThtion of ￿SoUrc8s.
induding its irKome and expenditure. for the financial year ￿ accordance with the requyements of sections 394 and
395 and which othefwise comply with the requirements of the Compan*s Acl 2LKJ6 ￿lating to financial slalements.
so far as awJlicabl• to the company.
The members have nol requ*ed the company lo obLln an audil of its finanaal siaternents fcff th8 year in qLtestlon in
aCCordar￿e wilh section 476.
T1*5e financ*1 statements have be￿ wepared in a(tcwd3￿e the FThSh)ns applicable to companies subject
lo Ihe small ￿)￿val)leS regime.
The financial st*emgnls were apwovefl by ￿ Iw51ees ￿ 16 Aw"1 2025
K Whitmore
TTusts•
Company regislrali¢)n number 00956100 (Engla￿1 and Ilkle5)

THE BAHAMAS LOCOMOTIVE SOCIETY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Aecountlng pollcl•s
Charity Infomiation
The Bahamas Locomotive &Kiety Limited is a wivale CoMp￿Y limited by guarantee ¥i(x)rporated in England
and Wales. The registered olfKe is The Shippen. 8 The Old Hall C￿rt Yard. Heath. Wakefield. West
Yorkshire. IhFI 5ST.
1.1 A¢¢ountlng ¢onv¢nllon
The a¢￿u￿1$ ha￿ been p￿pared undw the hist￿1 o)sl wmni￿n. with the 9¥￿tion of inv?slmenls
which are inckxled at rnarket vthe.
The finan￿al statements are prepared in sterfr4J. %thch is the fwdional C￿nCY of the charity. Monetary
amounts in these finaThial slatements are [￿Ided to the nearesl £.
The fInanCA￿ statements have been wepared w¥Jer Ihe INs1Thi￿1 cost convention. The WinLypal accounting
policies adopted we sel out bel￿￿.
1.2 Golng Con￿rn
Al the lim¥ of appr¢)viThJ the ffin•Kial slatements. the truslees habe a reasonable expectslon Ihal lh¢ charily
ha$ adequale resources to contin￿ in Opernknn￿ existe￿ for the fL¥eseeable lulure. Tlxts the trustees
continue to adopt Ihe going concem basis ol attounlffj in weparing the finanoal stslemenls.
1.3 Charitable funds
Unrestricted funds ¥e ava•abb us¢ at th& of lh& trusl¢os in firftherance of their charil*le
objectives.
Restr*ted funds are subje¢l lo corKlilK)n$ by donots as to they may ￿ used. The pvrp)$es and
uses of the re51ricted fund5 we Set out in the rnles to the acuun
1A Incomlng r•8ource•
Income is Tecognised when the thaiity is legaly enlilled lo rt after any F*rfoman¢% ￿)￿lI￿)n8 have been mel.
Ihe amounts ¢8n be measu￿d ieliaNy. #nd it is probable that income wll be received.
Cash donatil￿5 are recogni5ed on [￿lp1. Olher donalion5 are recognised once the charrty has been notified
of the donation. unless performance condit￿nS reqU￿e deferral of Ihe amount. Income tax Tecoverable in
relation to dcrflations received under Gift Aid or deeds olcoNtnant is recouvmsed at the time of receipl.
Legacies are recognised receyl or otheThvise if Ihe tharity has been Th)tified of an Thpending distribution,
the amounl is kn¢ywn. aThJ recevj is expeded. If the amount i% I￿1 kThxvn. the legacy trealed as a
contingent asset.
TvrrYJver is measured at Ihe f*r value of the ¢MsKleralKm f￿¢1¥80 01 fe¢eNable and rep￿sentS amounls
receivable for goods and services pro¥ryded in the nom￿1 course of IM5ine55, net of discounts, VAT and other
sales related taxes.

THE BAHAMAS LOCOMOTIVE SOCIETY LIMITED
NOTES TO THE FINANCIAL STATEYJENTS {cO￿riNUED>
FOR THE YEAR ENDED 31 DECEMBER 2024
A¢¢ounting poll¢l••
IContlnu•dl
1.5 R¢sourc•s ex￿nded
EKpenditure is rec¥)ynis•d once thère is a Wl ￿ ￿nstrUCt￿ obliyalKJn lo Iranslèr ety)nomic benefit to a
thard party. rf is probable that a transfer of econ￿ berth be rerwiTed in sett￿men1. and th8 amount of
the obh'gation can be measured reliabty.
ExpenditLKe is dassified by adivity. The costs of eath *b¥ity are mad? up of th& totsl ol dwecl c051s and
Shared costs. ￿￿￿Tr￿j supwl costs invofved rn uNlertaking eath aclM"ly. D¥ed costs attitjulable to a single
activity are alocaled direclly lo Ihal actiwty. Shared ¢x15ts whwth contr*JLts lo mcffe than one activiiy and
5UPPOrt costs which are nol attribula￿e lo a single aclivrty are aFwiioned behveen those admlies on a basis
consistenl with the use of resources. Central staff costs are athxated on the basi8 of spgnl, a
d8preciatk)n charges arè alocated on Ihe wrbon ofthe asset's use.
Expendilure is accounled for ￿ an acx7uals basis and has been ctsssifieil ￿￿eT hea(tings that aggregate all
co$1 related lo the calegory. ￿)ere costs Cannot be direcuy attsibuled to particulw headings they have been
8lto¢aled lo adNities M • b8si% ¢onsislenl with tho use of resources.
1.6 Tanglble r￿ed 4$$ots
Tang￿le assets are vlitialty rneastwgd al (051 and stheynty I￿5￿￿ed at cost or valuation. net of
depreuation any impairment k)sse5.
Deprec4ation is prowded al the aMu81 rates n ￿der lo wr*e off eath as501 over ils estimaled useful
Building improvements
Plant and ma¢h'nery
Fixtuigs awwj equipmenl
ConN)uters
Stra*Jht lin 0￿r 25 years
Str**1 Ine ovw 20 years
10% on rekn.ng balancÈ
Str**t l*)e ow 4 years
The gain or bss ari%ng on ihe disposal of an asset is letemi￿0d as the dffteTence belween the sale
proceeds the Carrying value of Ihe asset. is re¢ogr¥sed in Ihe stslemenl of financial activities.
1.7 Flxed as￿ In¥￿tt￿nts
Fixed asset inv8Stments are initialy mèasured al transaction wi(* Èxeknlin9 transaction ¢osts, and are
SLknsequently measur9d al fair value at each rop(Ktiny (lale. Changes in fair value are recogr¥sèd in nel
in¢Omel{expgndilu￿I for IF1& year. TwsactK)n are expensed as irKurred.
A $￿sIdI8ry is an entily controlled by the ¢h*ty. Cc**lrol 1$ the ptrrt to govem Ihe ffinancial and operaling
polirAes of Ihe enlrty 50 as lo obfairh benefjts from its adiwtyes.
IA Impalrment ol IIx¢41 **sets
Al each reporting end dale, Iho tharily teview5 the canwng amounls of its langitAe assets to delerrnine
whether there is any indicabon Ihat th¢)se assets have suffered an impairmenl loss. If any such indication
exists. Ihe recoverable amount of the asset is eslimated in order lo detemiine the extent of the impaimenl
10s5 lil any).
10-

THE BAHAMAS LOCOMOTIVE SOCIETY LIMITED
NOTES TO THE FINANCIAL STATEMENTS ICONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
A¢¢ounllng pollci•$
(Contlnuedl
Re¢ovèrable amount is the higher o(far value less costs to sell value in use. In a$$es$ing ￿alue in use.
Ihe e5timaled flrtV￿ cash fflcw4s are discounted lo t￿r present value using a pre4ax discount rale that reflects
currenl m8tket assessments of the b'me value ol a￿1 the risks speofic lo the assel for whith the
estimatès of luture cash llows have nol been ￿.￿Sted.
If the recoveratAe amowrt of an asset is eSlw)k￿ed lo ￿ less its carrytng amount. the carrying amount ol
Ihe asset is reduced lo ils recoverablè aMo￿l An wnparmènt h)ss is rècoynisÈd Nnmedlalely in incomel
(expenditure) for Ihe ye¥, unless Ihg rglwanl assel ¢aN*d al a revalued Jnounl, in which case the
Impalm￿nI lo￿ 1$ Iwled as a revam￿110￿ de(¥ease.
Re¢owised impaimienl losses are reversed rf, rf. Ihe reasons for Ihe impaimenl lo￿ have ceased
to apply. Whefe an inwainnent loss s￿SeqUenIty ￿verSe$. the ¢anying amount ol the asset 15 increased lo
the fevised estimatè ol its recoverable amolml. bul so that ¢he inuease(l Carrying amount does not exceed
thè earrybng amunt that W￿￿d hève been determed had no Hwairment ILW been recognised for the asset
in wior years. A reversal of an 1mpalrn￿I tOSS F5 le￿gn￿ immeth"atety. ￿lesS the relevant asset 1$ Carried
in at a revahjed amounl. in whKh case the r￿[SaI of the Impalm￿nt loss is treated as 8 revaluation
increase.
1.9 Ca$h and ¢ash equivalwts
Cash and cash equivalents indud• cash li h￿d. derA)sits W at c￿1 wilh banks, aNI bar* overdrafts.
1.10 Financial instruments
The ¢haity has dected Its appty the pr(V¥15ion5 of Sed￿n 11 'BaS￿ FinanrAal Instruments, and Sgclion 12
'Olher Fin*¢ial Inslrumènls Issues, of FRS 102 lo al of its finanraal Instruments.
FinanrAal ￿SIr￿nents are recognisad in Ihe dmritys baa￿0 sh•al vthen thè charity be¢x*rn*$ party to the
ntractual provisic￿$ of the #)strwMnt
Finanoal assets liabilities are offsel. with the nel amounts presented in the financial stalem8nts, when
there is a legalty enforceable right lo set off the recogr4sed *ncyJnts and Ihere is an intention to sèltlÈ on a
nèl basis or to reah'se the asset aThJ setlle the labthty simuttaneousty.
Bask Ilnanelal assèts
Basic financial assets. whth indude dsbtors cash and bar* b*n¢es. are initially measured at
IranSaCti￿ price iiduding transacti￿ ¢0515 arKI arp s￿)SeqUent￿ ￿Tried at amortised cosl using the
effedive interest method ￿lesS the arI￿geMent (¥)nslrtute5 a finanwg transaclion, Whe￿ the transaction is
mèasured 81 the piesenl value ol ihe future receipts disco1￿ted at a martel Tate of inleresl. Finawal assets
da$sified as re¢eivable within one year are rbol amortised.
Bask ffnanelal Ilabllldes
Ba￿¢ (in￿claI liabilities. induding ue(th"t(ws aThl bans ar& inrtialy rery)wMsed 81 transaclH)n price unless
the wrangement conslitules a finanung transact￿. where the debt in51rument is rneasured al the preserit
¥alue of the f￿vre receipts discounted at a rnawket rale of interest. Financial liabililies dassified as payablè
thin year are not ar[￿lsed.
Trade creditors are oblwjations to pay lor gocrfls or services that have been acquired in the OTth'nary course of
operalions from suppliers. ATrKJunls payatrAe are dasSIf￿ as oJNenl liabilities rf payment is due w￿h1n one
year or 18$$. If not. thèy are pre5eiit8d as nOrt￿rrent liabilrties. Trade credrtors are recognised initially at
Iransa¢tion p￿e awKf subsewenlly measured al amortwd cosl using the effect1￿ interesl melhod.
Derecognillon of finanelal liab•lill•s
Finanryal liab￿11￿5 are derecwised when the charitls contractual obligat￿S expire or arè dis¢harged or
cancdled.
11

THE BAHAMAS LOCOMOTIVE SOCIETY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accountlng pollcles
IC¢Jntlnued}
1.11 T•xatlon
The charily is axempt from cor￿￿tty)n lax on its 1*Witab￿ aclivit*s.
1.12 Fund accountlng
unre5th.cted Ivnds be used in a￿￿￿ce *rylh Ihe d￿vitable otiectNes al the discretion of Ihe trustge$.
Reslricted fund5 can only be used for particular restricted PLwposes wilhin Ihe oLierts ol the chaTity.
R&striC￿nS aris8 when sp8ufi8d by th• thnor or the funds are rdised for p8￿Cul¥ restrKtèd purpose5.
Further eX￿anat￿ of the nalure puryme of eath 15 in the noles to th• financial
slalements.
1.13 Grnnts
Capital grants T￿￿Ved ¥e tr•at•d as defwred Thx)me as arè released to the i￿ame
xpendrduré account ovw t￿ samè as assÈt dÈprtC￿Ith. h xts)rdance wth the Ststèmeni ol
Recommended Pracbce. all hent*Je graDt5 ale treated as ncome when receivable.
Volunl2ry arflvltl•s
Total
2024
Total
2023
fumts
Donations and gifts
MembeTship fees
215250
4.981
128.055
343.305
4.981
22.247
5,114
220.231
128,055
348.286
27.361
Forth• y•ar•ffid￿ 31 D•e•nthèr 2023
18.415
27.361
CXh•r trading a¢titAII•$
Unr•stricted
funds
2024
Totsl
2023
Admissit)ns
Other income
22.078
6.649
19.741
73,352
28.727
93.093
12-

THE BAHAMAS LOCOMOTIVE SOCIETY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Income Irom investm•nts
Unrestrithd R•stricted
funds
2024
Tot*1 Unrnstri¢t•d R*Jtitt
fvnd¥
fund$
2023
2023
Totsl
2024
2024
2023
Irt¥￿$1 receivable
10.939
19.294
6.410
5,159
11,569
Ral$lng funds
Unrestricted
fund8
2024
Totsl
2023
Fundraising publirity
Gener81 lundrY4sry expwyjiiure
S￿2
518
502
518
Charitabl• actlvlti
Ch•rit•bh Govem•n¢e
acliviti••
ojts
Total
2024
Totsl
2023
Depreciat*)n and iryainnenl
Rem and raies
Insutanco
Light. hèal and power
R9pairs to buildings aThJ equyff*nt
Locomotive and rollirwJ sto¢k rnaintena
Poslage an(151alionery
Tdephonè
Svndries
Bank tharges
Legal and profess*Jnal fees
Travel and subsistence
12.018
61
12.018
61
12.796
58
18,277
3,279
2,9)9
12.572
4.186
400
1.598
22.1
3.824
6.503
11.194
4.987
215
1.238
37S
22,1
3.824
6.503
11.194
4.987
215
1.238
37S
3,969
108
82
66.574
66.574
56.659
Govemance costs
1.500
66.574
68,074
58.159
The goveman¢e costs relate to Ihe acco￿lan￿ f8es for year and Ihe Frfevbu$ year.
13-

THE BAHAMAS LOCOMOTIVE SOCIETY LIMrrED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Trustms
None of Ihg Injslees {or any ￿r$￿$ 0)nn￿d with tt￿rnI received ￿Y remunerallon durtn9 the yoar and,
aside from travel expenses. Iherewere no trustees, expenses paMI for the year (2023- ni￿.
Galns and loss￿ on Investments
R•sld¢t•d
lund$
2024
R•$trl¢tsd
funds
2023
Gains arising on:
Revaluation of nvestmenls
16.633
29.687
Taxatlon
The chartty 1$ exempt from taxat￿ on its act14ty￿ because ils NK4>me is applied kn charitable PLKposes.
10 Tangible fimd *$stts
Plantand Ftxtur•s and Coryutor
Tolal
Cost
At 1 January 2024
Addithons
250.315
92.(K15
30.410
20,841
3.327
366,488
31.910
At 31 Decombor 2024
251.815
122.415
20.841
3.327
398,398
D•pr•cl¥tion •nd kn￿1￿1•￿1
At 1 January 2024
DeprecAalon ¢harged in the year
26.￿1
16.014
2.928
245.846
12.019
6.472
At 31 Dècem￿r 2024
207.375
30.￿5
16.497
3.028
257,865
Carrylng amouftt
At 31 December 2024
91,450
140,533
At 31 December 2023
49.413
4.827
120,642
14-

THE BAHAMAS LOCOMOTIVE SOCIETY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR ThIE YEAR ENDED 31 DECEAIBER 2024
11 Fixed asset invesiments
Invèslmènts
Cost or valuatlon
Al 1 January 2024 & 31 December 2024
5.0(XS
Carrying amount
At 31 DÈ(*￿ 2024
5,000
Al 31 December 2023
5.000
2024
2023
Other Inve$lmen¢$ tsynpiise..
Not•s
Inv8Stmenls in subsidiaries
19
5,000
12 O•btor
2024
2(123
Amounts f•lllng wlthln on• y*ar.
Amounts owed by subsidr¥y undartakn9S
Other debtors
VAT recoverable
Prepayments 8nd 8ccrued
43,335
20.072
779
184
17.826
4,275
20.397
68,rx17
38.661
13 Cuvr•nt ass•t Inv•$lm•nts
2024
2023
Short term In￿StMents
222.719
2[￿.087
14 Cr•diton: amounts lalllng du• wlthlffi on• year
2D24
2023
Oiher Creditors
AccruaL5 and defer￿d income
3.790
7.920
774
10.240
11,710
11.014
15-

THE BAHAMAS LOCOMOTIVE SOCIETY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED
FOR THE YEAR ENDED 31 DECEAIBER 2024
15 Restrlcted funds
The restricled funds of Ihe charity (x)rnp￿e Ihe unexpended b*rKes of donations and grants held on Iru$l
subject lo Speci￿ ￿nd1{A￿S by (knK>fS a5 to tw may be used.
Ilov¢m•nt in fund
Ba*K• *1 R•souT¢•S G•lDs
B•lan¢e at
)$888 31 Déc•M￿r
2024
The Bahamas Appeal
National Lottery Heritage Fund Grant..
MuseLwn
The Southwick Fund
Loco Depl. F￿d
Adamson Fund
347.468
16.847
(11.083)
16.633
369.865
12.422
32.838
{2,800)
116n
9.622
32.671
9.059
119.563
119.563
401.787
136.41Q
{14,050)
16.633
540,780
The Bahamas Appeal is a $p8of* fund for the restoralpjn of the I0¢￿0{￿e Bahamas movements in
fvnd$ a￿ wrthn off as itirr&l.
The National Lottery Helltage Fund Grant.. Museum ts the bala￿ of the prc¢eeds from Ilw Nat￿n81 Lottery
Heritag8 FuThJ grant. The grant was provided to as￿$1 in Ihe buildtyw of the swews museum. The fund is
b8ing writtèn off in line with tho ￿10 exptcfaney Of1￿ museum.
Yhe Soulhwith Fund" represents c￿￿ributIonS by members and ￿herS towards the restOrat￿)n of Rob8rt
Slephenson & Hawthom Cr￿ lank no. 7C69 %ouilr•ricf.
The Loco Depl. Fund: contrljuticfts from merthrs ltrward$ the purdwse and mainlenance of 10015 for the
workshop.
The Adamson Fu￿1 is a fund m•nlen8nce of London & Noth Weslein Rathay ￿2T No. 1054 'Coal
Tan
16 Unr•$trF¢trd funds
The unTe51ricted funds of Ihe charity ￿nprise the W￿pended balances ofdonalions and grants ar&
not Subject to specific condilicffls by dtJKYS and grantors as tg how Ihgy may be used. These indude
designated funds t•thich have twi set asx1& (Krt ol Un￿lIK1ed fwds by the tru51ee5 speufK purposes.
At 1 January
Inc<>mlng
Resour¢
At31
2024 ff•sourcv4 9Xp•nd￿ D•umbor
2024
General fund$
345.660
259.897
154.5261
551.051
16-

THE BAHAMAS LOCOMOTIVE SOCIETY LIMITED
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
16 Unr•strlet•d funds
IContinu•dl
Pr•vlou• ￿*r.
Al 1 January
Incoming
23 r*r•ourc
R•sourc•s
•XP•fbd•d
At31
D6¢embvT
2023
Geneial funds
277.124
108.449
{39,6931
345,680
17 Analy8ls of net assets bthleen fund5
Unrestricted
funds
2024
Rostri¢t•d
fund
2024
Tot*1
2024
At 31 De¢¢rn￿r 202&"
Tangible ass8ts
Investments
Current assets
80.637
5.000
465.414
59,8
140,533
5,000
946,298
480.884
551.051
540,780
1,091,831
Unrestricted R4*trict•d
funds
fvnd$
2023
2023
Tot*1
2023
At 31 December 2023:
Tangible assets
Investments
Curfent assels
55.002
5.000
284.678
64.640
120.642
5,000
621,825
337,147
345.680
401.787
747,467
17-

THE BAHAMAS LOCOMOTIVE SOCIETY LIMrrED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
18 R•lat•d party transactlons
Transactions wlth related parti
During the ye8f the tharity entered into the hkning transacims wih 18laled Part￿￿..
Management charges 01 £2,80212023 - £71.782) were rec8Ned from ihe subsidiary Bahamas Loco Tradiig
Ltd. Al the bal*Ke sheel date the amount due from cL¥wny was £43.33512023- £20.0721.
19 Subsldlarles
Thèse financial st8lements we separate thwily rM￿la1 slalemgnts f￿ The Bahamas L¢)¢¢)molive So￿0ty
Limited.
Details of th8 ch*Ws SLtsidiarns at 31 (Yg¢omber 2024 are as fckns..
Nam• of und•rtaklng
R•glstered
t)ffi¢e
Ilatsn of ljusine
Class of
'A Hèld
sh•rÈ* held Dlrèct Indlrnct
Bahamas Loco Trading Ltd. EngLand & Vltsl•sTo womote Ihe tra(*ng
admtiès of thè Souely.
Ordinary
100.00
The aggregate capital and reseNes and the result for the year of s￿Sid￿lI1eS excluded from consolidation
wa$ as foll￿S..
Name of undtrtaking
PmfiVILoMI C•pft•l and
ReseThes
Bahamas Loco Trading Ltd.
8232