REGISTERED CHARITY NUMBER: 275684 RF.PORT OF THE TRUSTEES AND UNAUDITED FINANCJAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 FOR ENFIELD & DISTRICT VETERAN VEHICLE TRUST
ENFIELD & DISTRICT VETERAN VEHICLE TRUST cor4TENTS OF THE FtNANCIAL STATEMENTS for the Yegr Eded 31 JULY 2025 Page Report of the Trll5tees Independent Examiner's Report StAtement of FiDanci81 Attivities Balance Sheet Notes to the Financial Stat¢menls 7 to 12 Detalled Statement of Flnanclal Activities
ENFIELD & DISTRICT VETERAN VEHICLE TRUST REPORT OF THE TRUSTEES for the Ye4r Ended 31 JULY 2025 The trustees present their report with ihe financial staiern¢nLs of the C11ty for the year ended J l July 2025. They are prepaied in accordance with ¢he accouniing polici¢s .%¢t oui in note I to the fmancial siatcmcnis and Comply with the Charities Aci 201 l and Accounting and Reporting by Charities.. Siatemeni of R¢comm¢nded Practlce 4Lpplicable io chariiies preparing their fjnancial statement% in accordance with ihe Financial Reporting Siat)dard applicable in the UK and Republic of Ireland IFRS 1021 l¢ffcctivc l January 20191. ACHJEVF.MENTS AND PERFORMANCE De*'elopment. activities and achievements The irnstees consider Ihat the Trusi had a successful financial year. The Pageant was held it] May 2025. The trust would noi be able to operate without the support of a number L¥f people who gave their services voluntarily ai key points dunng the year. This is espe¢Lally so in relaiion to the work parties ai the Museum. The trusiees wish ro exiend their graiirude io these people and ihe volunthry groups IL¥ which some of these people belong. Investment powers The Twsi Deed auihorizes the (rnstees io make and hold investments acctsrding to the law relating io the investment of tNsi funds. The fixed raie invesimenis at (he end of the year are detailed below. The tru%tees have inve%ted £SO,000 in a 3-year bond wilh The Charity Bank l.td, £80.000 in a l-year bond with the Hampshire Tru%1 Bank and £40,000 in a 95-day notice account with the Redwood Bank. The bond5 have been re-ini'estcd during ihc year ab required. These investtnent5 have earned £7.806 in interest during the year 12024 £7,969). Financial review The had a 8urplu8 in the year of £60,935 {2024 £43,347). ror this year, the repait% and maini¢nan¢¢ ¢osLs weie £23,184 compared 10 £26,116 in the previous year. The.%utplu5 j5 staled after charging depreciation of £33,6110. Donaiions received in the year were £9,544. ¢ompared to £5,470 in the previous year. Income from Museum open day8 was £38.256 for the year compared to £38,063 in the previous year. The income from th¢ sale of auiojumble and ihe regular sh(>ws has risen to £10.930 in the year, cOpared to £9,698 in the previous year. Income frotn the cafe and bar ha8 beert treated as belonging to the Trust since l De¢ember 2019. The income amounted to £30.954 in the year, compared to £28.509 in the previous year. The main source of income is the annual Enficld Pageani of Motoring. In 2025, Ihe event generated income of£141,260 and incuTTed co.%1% of £78,231 leaving a net Surplus of £63,029. In 2024. the inLonie was £128,284 and the costs were £80,713 leaving a nei surplus of £47,571. The trusiees review the l¢vel of reserves penodi¢ally to ensure that ihe chariiy is able to be rnanaged effjciently. It 18 their policy to maintain uttrestricted filnds al a level which is sufficient to meet all known and future conunitinents as they fall due. FUTURL PLANS A% new fvt]ds are generated, the trust will continue to deliver its objective of keeping a pemianent Museum in Enfield open and will coniinue io improve the fabric of ihc building. During the year, the fabric of the buildingjs was improved. The Irusiees are planning io replace the lift between ihc Is¢ and 3rd floors. They also plan io improve the cafeleiia and continue with thc rcnovaiion of the Tailw'ay carriage in ihe grounds of the museum as a new exhibition space. The acquisitson of exhibi18 a% and when they become available will also continue. The trnst i% in an excellent position to secure new exhibits. becau%e of lis links io The Enfjeld & Districi Veteran Vehicle Society Limited. The trubtee5 are satisfied that th¢rc are adequate resourceg in th¢ Trust's funds to fulfil the objectives of the charity. Page I
ENFIF.I.D & DISTRICT VETERAN VEHJCLE TRUST REPORT OF THE TRUSTEES for the Year Ended 31 Jirl,Y 2025 STRUCTL,RE, C.OVERNANCF. AND MANAGEMEf4T Con$titution. objectives and pollcies The trust is consiitutcd by the Trusi Deed dated I l April 1978 as amended in November 2019. The objects of the trust are lo promote ¢hc pcrmanent presetvaiion of v¢hiclc8 af anv type being old and of historic intere%t or %cientific importance, and to ¢dllcat¢ the public in the history of transport and the iechnical details. engineering and perfomiance of quch vehicles. The INSte have referred to the guidance contained in the Charity Commission's general gTuidan¢e on public benefit wh¢n rcview'ing their aim8 and objcctive5 and in plartning future activities. In particular, the trustees consider how planned activities will contribute io the and objectives they have set. It 15 the poli¢y of thc tTU%teeg to coniinue io proTnoie events ihai both further the above objects and rnise fi]nds towards thc ongoinb project to CStabli%h a Museum of Transport in the London Borough of Et)field. The majority of the trnst's work is Carried out by volunteers working under the direction of the injsiees. The trustee5 carry out an at)nual review of tho risks which the charity may face and have esbliShed sy4tems and prwedures to rtJLtigate any risk identified and minimisc any poiential impact should any identifled risks mat¢rialis¢. RkFERENCE AND ADf*lINISTRATJVF. DETAILS Registered Charity number 275684 Principal 4ddre5S Whitewebbs Museum of Transport Whitewebbs Road Enfield EN2 9HW Trustees Mr K H Oswick Chaimian Mr D J Crook8 Treasurer MrAJWati Mr R A Flaydock Mr T W Ivordswortb Mr A.H. Clinton Mr El Velleman Mrs J Baye resigned 11.2.25 igned 18.10.24 appointed 11.3.25 Independent ExamiDer Tara Aldivin ACA Foxley Kingham Chartered A¢¢ountat]ts 260 270 Butlerfield Great Marlings Luton Bedfordshire LU2 8DL The trustees named above have served throughout Èhe year, unle&s staled othejivise. The trustees appointments are Fovemed by the Tru8t Deed of the Chariiy. At prc%ent, the Trust Deed provides that the tNstees from lime to time will be ¥lected comtniltee mcmbers of The Enficld & Disiri¢i Veteran Vehicle Society Limited. an Industrial & Provident Society. Page 2
ENFIELD & DISTRICT VETERAN VEHICLE TRUST likPORT OF THE TRLTSTEES for the Ye#r Ended 31 JULY 2025 .l.3..-...&..-...2.&.. and Approved by order of the ix)ard of tNstee8 On ... .... signed on its b¢half by= Mr K H Oswick - TnL8t¢¢ Page 3
JNDEPENDF.NT Tr:XANIINER'S REPORT TO TIIE TRIISTEES OF ENFIELD & DISTRICT VETERAN ifEHICLE TRUST Independent examiner's report to tht trustees of Enfield & District Veleran Vehicle Trust I report to the Charity trustees on my cxamination of the accounts of Enfield & District Veteran Vehicle Trust (Ihe Trust) for the year ended 31 July 2025. Responsibilities 4nd basis of report As the charity trnsi¢¢s of ihc Trnst you are reqponsible for the preparation of the accounLs in accordance with the requirements of the Charities Act 2011 I'the Act'}. I r¢EX)ri in respect of my examination of the Trnst's account% caled out under Section 145 of the Act and in carrying out my exatnination I have lollow'¢d all applicable Directions given by the Charity Commission under Section 145(51{b} of the Act. Jndependent examiner's statement I have cornpleted Tny examinaiion. I Confirni that no matersal matter% have Come to my at¢ention in ¢onnection with the ¢xamination 8jVLnby me cause to believe ¢har in at]y matcrial rcbpect.. accounting records were not kept it) respect of the Trust as required by Section 13Q of the Act; or the accountg do noi accord with thosc rccords., or the accounts do not comply '1th the applicable requiremen18 conceming the fom and eontent of accounts %et out in the Charities (Accounts and Rcport%) Regulatitsns 2008 other than any requirement that the awounLs giN'e a true and fair view whi¢h is not a maltcr considercd part of an irtdep¢ndenl examination. I have no concerns and have come a¢ro&s no other matters in connection with the examination to which attentian should be drawn in this report in order to enable a proper undcrgtanding of the ac¢ounLs io be rea¢hed. Tara Aldwin ACA Foxley Kingham Chartered Ac¢ountants 260- 270 Butlerfjeld Great Marlings Luton Bedford%hire LU2 8DL Date.. Page 4
ENFIELD & DISTRICT VETERAN VEHICLE TRUST STATEMEF4T OF FITriANCIAL ACTIVJTIES for the Year Ended 31 JULY 2025 2025 Unrestrict¢d funds 2024 Total funds Notes IIYCOME AND ENDOWMENTS FROM Donations and legacies 9,544 5,470 Charitable activities InvestTnent income 245.215 8,421 220.526 8.718 Total 263.180 234,714 LXPENDITL'RE ON Charitable activities Charitable activities 202,245 191,367 NET IIYCOME 60.935 43,347 RF.CONCILIATIOTri OF FUNDS Total funds broughi forward 1,541,944 1.498,597 TOTAL Fuf4DS CARRIED FORWARD 1,602,879 1.541,944 The note5 fornj part of these financial statements Pag¢ 5
ENFIELD & DISTRICT VETERIiN VEHICLE TRUST BALANCF, SHF.F.T 31 JULY 21125 2025 Unrestricted fund. 2024 Total FIXED ASSLTS Tangyible ab5ets Heritage a4sets 656,272 514,050 651,744 509,550 1,170,322 1,161,294 CURRENT ASSETS Siocks Debtors Cash at bank and in hand 5.879 2.447 376 446 10 29,773 399,709 436,043 384.772 CREDITORS AmDunis falling due within one yvar (3,486) {4,122) NET CURRENT ASSETS 432.557 380,650 TOTAL ASSETS LESS CURRF.NT LIABILITIES 1,602,879 1.541,944 NET ASSETS 1602,879 1.541,944 FUNDS Unrestricted fvnds.. General fund 12 1.602,879 1,541,944 TOTAL FUNDS 1.602.879 1,541,944 The fjnancial statements were approved by the Board of Trustees and authorised for i&%ue on OL.... .IL... and were sigi)ed on ils behalf by.. Mr K Il Oswick- Trustee Mr rooks- Trustee The note8 forni pan of these financial siat¢men18 Page 6
ENFIELD & DISTRICT VETERAN VEHICLE TRUST NOTES TO TIIE FINANCIAL STATEf¥iENTS for the Year Ended 31 JULY 2025 ACCOUNTING POLICIES Basis of preparing the financial statement5 The financial stsiements of ihe chariry. which is a public benefit entity under FRS102, have been prepared in accordance with the Charities SC)RP (FR8 102) ' Ac¢out)iing and ReportinL by Charitieg.. Statement of Recommended Pra¢iice appli¢able to ¢hariiiL% prcparing their accounts in accordance wilh (he Financial R¢poning Sthndard applicablc in the UK and Republic of Ireland IFRS 102) (effective l January 2019), and the Charities Act 2011. The financial statements have been prepared under the hisiorical cosi convention. The pregentation cutTen¢y of the financial statements is in PounÉt% srling (£1. which is the funciional currency of the charity. Ineome All incomc is recognised in the Statement of financial Activities once the charity entitlement to the funds. it ig probable that the income will b¢ r¢ceiv¢d and the atnount can b¢ m¢a%ured r¢liably. Expenditure Co%ts of rdi.%ing fvnds ¢ompris¢ thc cosis as%o¢iaicd with aitrdcting voluntary iDcom¢; mainly in r¢lation to fvnd raising events. Charithble expendiwre comprises ihose costs incurred by the clwity in the delivery of its activities and services for ILS beneficiaries. It includes both cosis thai can be allocated directly to such activities and those costs of an indirect namre necessary w support them. GovernaD¢e costs include those cosis associated wsth meeiing ihc conglitutional and sthtutory requiremenis of the charity at]d include the accountancy fees and co%ts linked io the sirategic management of the chariry. Goodwill Goodwill 18 amortised evenly over its estimated use1 life of 2 years. Tanglble fixed assets Depreciaiion iq provided at the following annual raies in order io write off each asset over lis estimated useful life. Frc¢hold properry Plani and machinery Fixtures and fitting% at varying rates on cost 25Q/o on co81 Herit8ge assets Heritagc assets are Staled ai their Cost io the Chariiy and are not depreciated on the basi% thai th¢y are d¢¢m¢d to haye an indefmite life due to their ongoing maiTJtenance and likelihood of appreciating in valu¢. Stocks SioLks are valued at the lower of eost and net realisable value, after making due allowance for obsolete and slow rnoving iiems. Taxatlon The charity is exempt from on its chariiable actlVLties. Fund aceoullting Unrestricted funds can be used in a¢cordance with the charitable obJectiv¢% at the discretion of the trnstees. Re.%tsi¢d funds Can only be used for panicular resiricied purposes within the obje¢is of ihe chariiy. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and putpoK of each fund is included in the notes to the financial statements. Page 7 continued...
ENFIELD & DISTRICT VETERAN VEHICLE TRUST NOTES TO THF. FINANCIAL STATEMENTS- tontinlled for the Year Ended 31 JULY 2025 ACCOUF4TIiYG POI.ICIES - continued Hire purchase and leasing commitments Rentals paid under operating leases are charged Ici (he Statem¢ni of Financial Activities on a .%traight line ba%is over th¢ period of the lease. CHARITABLE ACTIVITIES 2025 2024 Pageant illcome Shop %ale% Autojumble, bike shows et¢ Museum enirdnce fees Oiher income Café and bar income Vehicle %ales 141.260 2.980 10.930 38,256 18,035 30,954 128,284 2.965 9.698 38,063 11,382 28.509 1.625 245,215 220 526 INVESTMENT INCOME 2025 2024 Investment income 8.421 8.718 CHAIUT ABLE ACTIVITIES COSTS Co$t$ directly aUoc#ted to activities Basis of allocatio Rgising funds Charitable aetivlties Tot81 Total Café at)d bar purchases Gcncral office costs Pageani costs Moior CKIV%¢ Bank chaT¥es Le&1 aiid pmf&s5ional f$ HiTL' uf plani and machincry Advcrtising Govcman¢e co%ls". Audit and accountancy 14.61)9 14,699 11,166 78,231 2.853 747 9.654 In.()42 80.713 78.231 2,853 747 360 974 6.035 0,035 4.968 4.968 3.120 118,699 110317 Support co$t$ allocated to activities Premiscs Communiutiong Deprcciatiort Usage 48,535 58.535 50.620 2.484 33.680 33.680 ¥3.540 81,050 124.014 202.245 191,367 Page 8 continued...
ETr4FIELD & DISTRICT VETERAN VEHICLE TRUST NOTES TO THE FINANCIAI. STATEMENTS- eontlllue41 for the Year Ended 31 JULY 2025 TRUSTEES, REMUNERATION Af4D BENEFITS There were no trustees, remuneration or othcr bcncfits for the year ended 31 July 2025 nor for (he year ended 31 July 2024. Trustees, expellsts Expenses incurred by tNstees on behalf of the Trusi have been reimbursed in the years ¢nd¢d 31 July 2025 and 31 st July 2024. In the year to 3 Isi July 2025, 3 t]ustees were reimbursed a iotal of £4,168 in experLses (2024 - 6 Lsiees. £4,096). INTANGIBLE FIXED ASSETS Goodwill COST At l August 2024 and 31 July 2025 670 AMORTISATION At l August 2024 and 31 July 2025 670 NET BOOK VALUE At 31 July 2025 At 31 July 2024 TANGIBLE TrIXED ASSETS Fixtures and fittings Freehold property Plant and tnachinery Totals COST At l Augusi 2024 Additions 706,053 38,208 57,873 112,572 876,498 38,208 At 31 July 2025 744 261 57,873 112,572 914,706 DEPRECIATION At l August 2024 Char¥e lor y& 54.311 33.680 57,872 112.571 224.754 33.680 At 31 July 2025 87,991 57.872 112 571 258,434 NET BOOK VALUE Ai 31 July 2025 656,270 656,272 Ai 3 1 July 2024 651,742 651.744 Page 9 continued...
ENFIELD & DISTRICT VETERAN VEHICLE TRUST NOTES TO TIIE FINANCIAL STATF.MENTS- continued for the Year Ended 31 JULY 2025 HERITAGE ASSETS Total MARKTr.T VALUE Ai l Au¥u%t 2024 AddiliotL% 509,550 4,500 At 31 July 2025 514,050 NF.T BOOK VALUE Ai 31 July 2025 5 14,050 At 31 July 2024 509 550 Victorian Fire Station Museutn Exhibits Totals COST At l August 2024 Additions Di5P05als 295.731 213.819 4,500 509.550 4.500 At 31 July 2025 295,731 218,319 514.050 NET BOOK VALUE At 31 July 2025 295.731 218,319 514.050 At 31 July 2024 295,731 213,819 509,550 STOCKS 2025 2024 Stocks 6,561 5,879 io. DEBTORS: AMOUNTS FALLING DUE WITHIN of*E YEAR 2025 2024 Other debtor PrepaJrynenL and accrued income 28,558 2.447 29.773 Page 10 contit]ued...
ENFIELD & DASTRICT VETERAf4 VEHICLE TRUST NOTES TO THE FINANCIAL ST A'fbNIENTS - eoDtinued fur the Year Ended 31 JULY Z025 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Oiher ¢r¢ditOTS 3.486 4.122 12. MOVEMENT IF4 FUF4DS Net ovement in tunds At 31.7.25 At 1.8.24 L'Drestri¢ted funds General fund 1,541,944 60.935 .602,879 TOTAL FUNDS 1,541,944 1.602,879 Net movement in fvnds., included in the above are as tollows: Incvmin resources Resources expended Moven)enr in funds Unrestricted funds General fund 263,180 1202,245) 60,935 TOTAL FUNDS 263,180 202,2451 60,935 Comparatives for movement in fullds Net movement in funds At 31.7.24 Ai 1.8.23 Unrestricted fuDds General fund 1.498.597 43,347 1,541,944 TOTAL FUNDS 1.498,597 43.347 1.541.944 Cornpatative net movejnenl in funds, included in the above are as follow5.. Incorning resources Re%ources expended Movement in fund Ullrestricted funds General fund 234.714 {191.367} 43.347 TOTAL Fuf*DS 234,714 191,J67) 43,347 Page 11 continued...
ENFIELD & DISTRICT VETERAf4 VEHICLE TRUST NOTES TO THE FtNAf*CIAL STATEMENTS- eolltlllued for tbe Year Ended 31 JULY 2025 12. MOVEMENT IN FUNDS - eoDtinued A Current year 12 months and prior year 12 months combined posiiion is as follows.. Net movement in funds Ai 31.7.25 At 1.8.23 Unrestrictcd funds General fund 1,498,597 104,282 1.602.879 TOTAL FUNDS 1,498.597 104.282 1.602,879 A eurreni year 12 months and prior year 12 Months combined nei rnovemeni in funds. included in the above are as follows.. Incoming resources Resources expended Movement in funds Unreltricted funds Gcnerdl fund 497.894 (393,6121 104.282 TOTAL FUNDS 497.894 393.612} 104.282 13. FINANCIAL COMMITMENTS Ai J l July 2025, the TrUt had financia] commitm¢t]ts of £21,070 relatinb to the installation of new lifts in the museum. 14. RELATE PARTY TRArySACTIONS Theie were n() related party trdnsactions for the year ¢nded 31 July 2025. Page 12