RECEIVED 2 6 JUN 2025 NEWMAN & CO The London Troll preSerV￿10n Socie Lirnited Limited b Guaranitt Acom Com No.. O 971 N . 265426 stD em Waven¢y Aecountsnts Limited tla Newman & Co Chartered Accountsnts 7 Hungate Beccles Suffolk NR34 9rr The London Trolle Limited Contents of the Financial StateTn¢nts for th¢ Year Ended 31 December 2024 P8g¢ Company Infonnation Report of the Directors (T￿￿te¢s, Reporf) Income and Exp¢ndiwre Account Balance Sheel Note to the Finan¢i$l Siat¢m¢nts Independent Examination Detailed Income and Expenditure Account 10 Th¢ London Trolle bus Preserva Acom Limited b Guarant ons ie Limited Co an Infomiation for th¢ Year Ended 31 Decem DIRECTORS.. (TRiiSTEES): S E LaTTuoill8 A J Bertram PK Williams (r¢signed 12.7.24) SECRETARY: REGISTERED OFFICE: E*51 Angli& Transport Museum Chapel Road Carlton Colville Lowestoft Suffotk NR33 8BL REGISTERED NUMBER: 01068971 (England and Wales) CHAIUTY NUMBER: 265426 INDEPENDENT EXAMINERS: W&Yeney Accountants Limited Va Newman & Co 7 Hunga¢e Beccles Suffolk NRJ4 9rr Page I Th London Trolle bu5 Pr¢5ervatiOll Soci rt of the Directors e Year Ended 31 December 2024 Limitrd For INrRODUCTION Th¢ Trnstees who art also Directors for Companies Act purpose& submit their annual report, tog¢ther M'ith the unauditd accounts for the year ended 31st Dec¢mber 2024. The unaudit¢d #¢eounts comply with the Ststement of R¢¢ommended Practice: Ac¢ounting and Reporting by Charities (SORP 2005) issued by the Charity Commission gnd the Companies Act 2006. CURRENT STATUS Th¢ London Trolleybu5 Preservation Society is registered in England and Wales as a company limited by guarantee ai Companies House, numb¢T 01068971, and is a registered ¢hariry, with the Charity Comrnission. iunber ?.654?.6. The Company was established under a MemoTandum of Association, whi¢h sets out the objects and powers of the company and is governed under its Articles of Association. Trustees are ele¢i¢d at an appropriate Annual General Me¢iing and stand for a m&ximum of three yetrs before rerflection. During the year there were 27 members. RISK ASSESSMENT AND POLICY DOCUMENTS The ttustees have review￿1 risk asse$sm¢nts and policy documents and by default adopted those generic ones of the East Anglia Transport Museum, with who it operaies under their umbrella. Specific ones, relating to our own particular risks to comply with ¢hangin8 circumsrance5 and legislaiion, are prepared and used as 4ppropriaie. MEETINGS Regular group membership meeiings are usually held on sile at Carlton Colville and other locations where mu¢h of the ongoing business of the Society i5 regularly dis¢uss¢d with minutes pr￿Uced of those meeiings, which ar¢ cirrulated to the Group membership. The trust￿￿dIreCtorS mea O￿lOn8]ly. FINANCIAL REVIEW AND RESERVES POLICY The year ha5 5¢en n¢¢e5sary expendilure on the vehicle flee( workshop equipmeni and upkeep ofinfrastructure all of which alluws us to ensute we Lan up¢rdl¢ (yur lle¢L for pas5eii8ers forthe fulfilment of our charitable aim5. The safety-up8rade work in the depot complex wa5 ¢omplet¢d in the 5tmimer and now provides a modem safe space for our volunteers to work safely on vehicle restordlion and l]eet maintenance. A150 in the summer, we had to spend a significant sum of money on our court v)sts relating to the legal dispute about our trolleybus depot complex at Ellough. As this report 15 written, th¢r¢ have been advances in the resolution of the dispute and we are close to a settlement, which we ¢xp¢¢l will happ¢n in QI 2025. The director5 clos¢ly monitor the reserves of the company and where Surplus income and res¢rves have arisen, they have been utilised for the trolleybus mainten8mce/restoration pro8Tamrne (both planned and ￿ required) and the new depo¢ oomplex we hope to build at the museum. BUSINESS DEVELOPMENTS AND ACTIVITIES We have Continued our nomial operations during the year and continue to be eommitted to obtaining finance to maintain and restore preserved trolleybus fleeL buildings. and infrastructur¢. This applies to both our locations at the East Anglia Tran5PQrt Museum, where our regisiered office 15 Loca￿ together with our trolleybus depot Complex at Ellough. The legal action regarding the Ellough complex 15 ODgoin8, but in a more positive way. We hope to have completed a settlernent agreement by QI 2025 after which we can gei back to focussing on the Society's future in pursuil of its charitable aitn5. We continue Éo pursu¢ the oppornjniry to build a new and much need¢d trolleybus depot on the museurn's new land. The building of a n¢w facility will provide vital Storage for our expanding collection and will fi]rtheT a]low us to transfonn our existing buildings into equally needed wo]*shop, resioration baylpaint shop and a suitable exhibition area for visitors. Page 2 The London Trolle bus Preservation Soci Acom Limited b Limited Re ort of the Directors r the Ye8x Ended 31 December 2024 A major function of our activities bs the provision of op¢rntional trolleybuses for the museum to display. operate and for the carriage of visitors. However. providing ongoing maintenance and restoration is becoming haTder with both the ageing of our volutlieers and lack of appropriat¢ 'rnodern stsndards, skills. W¢ have scraped through 2024, though it has been fraughi and put unnecessary stress and burd¢n on those of our Yolunt¢¢r5 who ar¢ properly skilled and able. The directors ar¢ th¢refore beginning to assess ways in which the charity can raise mor¢ funds {and skilled volunteers) for its int¢Dded activities. One of the 5ugg¢stlODS is to open the Soci¢ty'5 offering and develop a'Friends of the LTPS, category, in which donations and skills can be sought from people who are not ¢urrently &8sociated with LTPS. In the WOTSt-cps¢ scenario. we may have ¢0 s(art employing professional mechanics, engineers, r¢storers. etc.. so having fun(ts to allow us io do that is vital. London trolleybu$ 796 remains onloon io us and the103n-agrttment w&$ renewed for a further 10 years earlier in the year. We continue to hold, as own¢TS, fvll or part colleclions of trolleybw% related photographs which we have purchased or had don¥4t¢d to U5 and we ar¢ always willing to allow their use in publications for a royalty fee. SMALL COMPANY STATUS The Report of th¢ Director5 ha5 been prepared in accordanc¢ with the special provisions of Part 15 of the Companies Act 2006 relating to sm811 companies. CHARITABLE STATUS The company is a registered ¢hgrity. Its registration number is 265426. PRINCIPAL 0￿E￿IVEs The principal obje¢¢iv¢ of th¢ Company during the year was the conlinuing promotion and maintengn¢¢ of it$ Trolleybu5 activities io a¢hieve on op¢rntional presence al The East AThslia Transport Museum. DIRECTORS The directors shown below have held office during the whole of the period from Ill J￿ll&ry 2024 to the date of this report. A J Bertram S E Lamming PK William5 (resigned 12.7.24) This report been prepared in aecordance with the special provisions of Part 15 of the Companie5 Act 2006 relating to small companies.- ON BEHALF OF THE BOARD: S. E. Lam ing- Director Date.. 1£."..4F.¢.IL !oL.f....... Page 3 The L ndon Tmll bus Preservation Socie Income and Ex enditure Account for the Year ED l Decernber 2024 Limited 31.1224 31.12.24 Restrictrd Unrestricted 31.12.24 Totsl 31.12.23 Total Not¢5 TURNOVER 43.061 44232 87.293 11,961 Cost of Sale5 GROSS SURPLUS 43.061 44232 87.293 11,961 Administrative Expenses 68295 68,295 12,682 43.061 (24,063) 18.998 (721) Othei operatin8 income OPERATING SURPLUSI(DEFICIT) 43,061 124,063) 18,998 (721) Inter¢si payable and similar charges SURPLUSI(DEFICIT) ON ORDINARY Tax on surplus on ordinary A¢livities 43.061 (24,063) 18,998 (721) SURPLUSI(DEFICIT) FOR THE FINANCIAL YEAR 43,061 (24,063) 18.998 (721} The notes forn) part of these financial statements Pag¢ 4 The London Tolle U5 Pr¢s¢rvation Limited B