NTA (1963) LIMITED (LIMITED BY GUARANTEE) REPORT OF THE DIRECFORS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 NTA (1963) LIMITED (LIMITED BY GUARANTEE) Cont nts ftheRe ort Directors, Report Pages 3-7 Ststement of Financial Activities Page 8 Balan￿ Sheet Page 9 Notes to the Financial Ststements Pages 10-18 Report of the Independent Examiner Page 19 REPORT OF THE DIREcfoRS NTA 1963 Ltd. 2022 The Dlrettors presart thelr report and the financlal statements for the year ended 30th September 2023. srATUS rA (19631 L1rn￿d is r8Jistered In EThJland and Wales b)th as a company limit&l by gUa￿rtee numkr 937035 and a5 a registered charlty number 288846. The CoM￿nY changed ts name to NTA (1963) LIMITED from the Trolleybus Museum Company ￿Mited on ￿ June 2012. The Cornpany Memorandum tsf Assoclation sets out its objects and Fowers and it is governed under Its Articles of Assoclatlon. The Company also oForatss under the name of National Troljeybus Assoclation. MEMBERSHIP Membership of the Cornpany at Septhter 2023 was 428 paylng meJniErs plus 11 honoRry members, a totsl of 439 athough some late renewals We￿ expected lat OrtoVRr 2022 - 4J7). Annual 5ubscrlpUons were Increased from l Ottober 2019 to the following.. Untted Klngdom.. £26.00 p.a.1£50.00 for ￿40 years Rest of Euro￿. 0.00 p.a. Rest of Wotld: £35.00 p.a. Each member of the Company guarantees the dEbb of the Cotnpany to a totsl of £1. This guarantee coNtinue5 to hold well for up to one year after ceasing to be a member. OBJECTIVES AND PUBLIC BENEFrr STATEMENT (a) To advance publSc education by È5tabli5hlng and maintainlng for the benefft of the natl)n an operatlng trolleyL￿$ museum and fvr the like purpose to promote the permanent preserwation of omnibuses and trolley vehicles and equlpnenL and ttems of general transtX)rt interest of actual or potenfjal historfc or scientif￿ Smportance and educative ￿lUe. (b) Exhib￿￿ng to the public any such vehides, equipment and ￿eThS as aforesaid by means of ternporary or pemianent exhibiuons anL1 to demonstrate and assist In demonstTrting to the public the working and 0￿r￿tion of any suth vehlcles, equipment ancf ttems by means of stayc or mbile displays and by carying the publlc on such vehicles or otherwise. {c) To promote and further the study of and research Into trolley vehicle5 and trDlley vehKle undertaklngs and other fcims of transport and the historlcal, sclentffic, social and other as￿cts thereof and to publlsh the results of all useful research for thè beneflt Df the public at large. PRINCIPAL ACTIVITIES AND BUSINESS REVIEW In pur5uarKe of ts objectives, the Company undertr￿k the followirvj acknvltr￿ during the year. a) Qwnershipi Restoration and Preservation of Hi$torlc Trolleybu5e5 for Publk Exhlbition Belfast 16a A 1949 Guy n wlth a bcdy bu1￿ in Ulster by Ha¥kn&s was the last trolleybus to operate in Ireland in 1968. Durlng 2015 r( was moved to the Keighley Bus Museum for restoTrtron. An appeal for donatK)ns was boostÉd by publlcation of the Hlstory ofBe/fast Tffjlleybuses by frolleybooks. Donations of £27,405 have been receNed and restoration work has cost £115,000 so far, including rent R&toration was well adVan￿d in 2020, when new window pans were fitted,. but was interrupted In 2021 and the board Is Inve5bgattng how best to can￿nUe the work to the hlgh qualty already achieved. Bournemouth 202 A Sunbeam MS2 built in 1935 and converted to open-tsp conflgurauon In 1958. It is one of only tsvo open-top trolleybuses in the work1 and is in 3rtive museum service at the East Anglia Trnnsp)rt Museum. The loan agreement wlth UTM runs untll 2025. It Ss now due for a re-paint. REPORT OF THE DIRECTORS NTA (Continued) 1963 Ltd. 2022 23 HasUng$ 45. A three-axle singltrded(er with Guy Cha55￿ and Ransomes, Slms aThl JeThes bc*Jy dating from 1929. A frjnd for its restoravorj stwd at £17,066 at septeM￿r 2023 after the fvnd contrlbuted to the c05t of Ellough storage depot. Hudde￿lIe/d 541. A Karrfer M52 wtih 70 seat Park Royal bcAdyi entsred 5ervke In 1947 and, in 1966, beCarr￿ the first pri￿telY preseNed trolkybus in the UK to operate on another trolleybus system, when fc was u￿1 for a tour of Wolvethampton. R￿tOratiOn to orETrting conditron was cornpletad In 2010 and 541 entered museum seThrfce at the Trolwus Museum at Sandtoft on 29th August 2010 fftre it Is housed under a renewable 5-year agreenEnt which runs unul 1st January 2028. The cost of storage has been largely covered by generou5 donatlons by our member Davld Beach whom the PA)ard wlsh£fj to than In 2013 the vehicle oFerated at EATM fvr a ￿￿kentt wlth 202 in celebratknn of the 50th annwersary of the rA, In 2018 it ran at the 50th annTversary of the cb5ure of Huddersfield trolWbuse5 event at the Tiolleybus Museum at Sandtoli followed by a slrnllar event Sn 2023. Wolverhampton 654. One of the List Guy trolleybuses buil¢ being a BT m￿e1 of 1950, was mov& from Northamptonshire to the store at Hlough in 2022. The fij￿1 for the restoravon of the vehicle St[K￿ at r￿rrY £15,195 in September 2023. A strategy renovatlng this VehIc￿ is being devek)ped and we intend thi5 to be the next major proptt follomng the restoratlon of Be5fast 168. laywne TrolleybusandEqulpnJent The I￿￿ scale trolwus System construtted by our member Peter Lepine-smlth, who In June 2022, was Lwueath&J tD the and was being prepared for removal to the NTA store at Elkjugh for the iElng. It comprises a mlniature Reading trolleybus and a tvwer wagon together wth overhead wrtng, Induding fr095. We hope that the 5ySton can be insklled at a trBnsport museurn forthe en￿ent of the publlc. Stwage Deprt Our buihling at Ellough Sn Suffolk i5 held on a 99-year thse and the wfA twk p￿eSSIOn in Aprll 2018. It Is Included In the accounts as a Tanglble Asset. The location ￿ close to the EATM at Carfton Cokn"Ile. Apart from trolleybuses, ￿ has Spa￿ for archNes and spare parts storage. The dimensions of the dewt are such that up to four of the WA'S five trolleybuses coukl te housed but ￿ Intenuon is that, In normal circumstsnce5, It wlll accomrmdate three veh￿￿. The costs of construcbon were met from donatEons and from the ￿A'S own resources, Induding contrlbutions from the Wolverhampton 654 and Hasting5 45 funds whlch were agreed with donor5. b} Publlcation of Jotsrnal The Company continues to produ￿ Tmlleybus Magazne b1-n￿nthlY trm) ts) provkle Infom)ation atrf)ut th fomi of transport. The n￿gaZIne has establlshed a high reputatk)n for atturacy of content, quality of p￿SentstiOn and world-￿de breadth of covera￿. Issues 366-371 were publlshed in 2022123. TM contlnues in A5 forni* In fvll cok)ur. The page count was Increased from 36 pages plus covers to 40 pages plus covers from TM 358 Juty-August 2021. The Editor, Carl Isgar, and Directors would Ilke to thank all those who assisted with TM particular￿ the News Ed￿r, Peter Haseldlne and the distribution undertaken by DavKI Pearson and all those contrlbutlng articks, plctures and letters to the Magazlne thLs year. c) Website Since 2023 the web address of the NTA has beèn mvw.nati U5.0 . The Board wlshe5 to record rts thank5 to I￿hleY Hoare who set up and malntslns the present site as a contrartor. d) Meetings Regular rneetlngs were held at K*n House, Calshot Streei London on many tDp￿ repated to Brtdsh and fo￿Jgn trolleytmJ￿. membe￿ are also wdCo￿£d to meetings In Re￿lIng and Bradford by recipr(Kal a￿ngernent other societie5. 11 meetings were hew in 2022123. REPORT OF THE DIREcfoRS NTA (Contlnued 1963 Ltd. 2022 e) Trolleybook8 (Jolnt Venture with British Trolleybus Socletyl TrolleyLA￿kS Is manag8J by a Panel of six members, three from each organisatNJn. The NTA representatNes are Ashky Bwce, Mlke Russell and Ed Humphrey5. It alms to publlsh worts of importrdnce on trdleybus hostory and to generate fund5 for trolleybus restoradon. The Panel is ably ass1*& by vdunteers, Includlng our memtrer RoLqnd BOK fomier edltor of TM. T￿l*by0￿% publish&J The TtDlleybuse5 of Brazll. by Moraes and Howes in late 2022. It ha5 381 pages, over I,OCO photographs and many maps. Cover price is £49 and sales were encou￿gIng with 65Wo sold by the erKI of th15 year. Tf)e next book for publiotion wlll be volume one of a two volurne work on LDndon Trolleybuw by K. Famw, C Holland and L Smith. Various other Uves are in preparatlon. The NTA'S Investment of £15￿ In the produciion of the Brazil tKok was repaid and a share of proffts Is expected. fj Sales Thè Ccffipany nom)ally sells publications and vldeos at London NTA meetings and often at Le￿dOn TLRS meetiws. Following the liti.ng of Cowd-19 restrl(ttons, Sale5 attended various events In 2022123.. the Solent Model Tram Festival, two ￿0k and coNectorg far￿ at Elstrèe, the Ledgard event at Pudsey, SandtofL Crich and EATM. Some formerly regular events we attended have not re-started. The mail-order se￿￿ run ty our Sales Offlw, Philip Johnson, includes trolleybu5 and tram puLIKatrons from home and abroad, back numbers of TM and ￿deoS and DVDS. Revenue this year improved wlth substsnknal sales of donat8J ￿ern5 and w￿h some new publicatN)ns. ￿eratI results held up and one of the highest saks v()lumes In our hlstory wa5 achleved. Preliminary resujts show retums of alx)ut £8,OC() before dedurtbn of experw. g) Collectlons The Ccfflpany the f￿lOWIng collecdons of trolleybus photographs which are ￿eIng digiti5ed: l. The Mack CDlleclion totsls over 6,300 negatives of UK trolleybuses acquired from the estate of R. F. Mack in 1987 for E700. These photographs were ￿5￿Y tsken bewn 1946 and 1972. Some of the collection has teen used in TmlleyknkspubllcatN)ns. 2. The Breaw Collectlon of ab)ut 350 negatives which was th to the Company when Harold Bmr passed awèy. The collettion covers the pewd 1900 to 19T2. 3. The Lepine.Smlth collection. Malnty of London trclleybuses in the °DidJIe￿ era, cornpiising some 227 age5. In addition, a of provlnclal Brftlsh trolleybus tImetsb￿S was donated in early 2015 2nd other vintsge ￿￿￿table5 a￿ being added when ￿SSIble,. the Company also ￿]d$ an extenslve nvrnber of dlagram5 of trolleybus wlring layouts In tts overhead wiring recorts. FUTURE ACTivrriES The Dlrytors c￿ltinued all opeth'ons durlrrtJ 2022123 and ￿an likewise for 2023124. The Directors are commw to obtainiw the finan￿ to restore and safeguard the ￿AS preserved trolleybus fl*L to continue the publotion of IM to the hlghest standards and to maintsln an webstte to attratt more y￿￿OrS and member5. FINANCIAL RESULTS AND RESERVES The results for the year a￿ set out in the as%)ckited ￿COUnts whlch have been subjett to Independent EyAmlnatlon. The report of the IndeFenda)t Ey2miner Is Includgj In the accounts. EDI 2022 ntin The Ircome for the year was £67,4CQ ind￿1￿j donatSon5 totsling roundty £38,600. Thls Induded the flnal part of the legacy frorn the estate of cMJr late memter G. C Ha￿n5 of Brlghton. The totsl re￿IVed frc thls estate is £250,323. Donatlons to restrfct8J funds InC￿d￿j £646 trw4ards the reStOratr￿ of Belfast 168, £500 for Hasdngs 45 and £600 for Huddersfie￿ 541, No Qaft AMI clalmed In 2022123 txrt we rAan to daim as S￿)n as practScable. Expenditure was round￿ £38,ofxl, of whth sorrE £12,51KI wa5 spent on trolkyLyJs restorath)n, movem julpn￿t and archlve storage. TIP laryest eynditurt item was 9Jme £15,OCX) (x) the PrOd￿tiOn and distributvjn of Trolleybus Magazlne. The totsl fvnds at the yEar-end were atx>ut £580,0(KJ although £47,ICKI of thls Is the value of Herttage A55ets whkh15 not realizabk. The funds akn Indude value of wr 8JrAJgh store whKh Is £144,350 after depreoation. The ￿reCtorS d05ety monitor the reseTves of the Company. Re￿fftted reser￿ cover trol*L￿$ reStOra￿on w￿k and storage costs. ThÈ ba￿n￿ of unrestrkted ￿r¥eS was held malnty to meet unexpected exFendlUJre or a sudden drop In Inco￿￿. whe￿ surrjus IKome and re5erve5 have arisen In the past, they have been utilised ftjr the trolleybus restorntion tycoramme. We are now able to finan￿ more restoration t1¥￿ and the Dirett¢rs are reMewSng prjicy on reserve& At 30 Septemter 2023 restritted resetves of £181,COJ We￿ held, most of whlch represents the Tanglble As*t of the depot at &kJugh and the rest f(* the re5torattr)n of our trolley yeh￿eS. The value of funds ft)r vehicles Is as fdlows.. for W0￿erhamFt0n 654 {£12,814), Hastlng5 45 {£17,1911, funds for Belfast 168 and Huddersff￿d 541.were depleted ty, cosls of vehide m0Ven￿ntI•l•6kn￿. No ￿rat￿)n w(Kk on Belfast 168 was poSsi￿e this yeaT. Wolvethamr*on 654 was insFerted by vehide rest0￿r$ and It is hoped to start restoradon In 2023124, The total cost of bulldlng Blough dewt was £152,842 In 2017-18, Thts a55et 15 teing depre￿at￿l on a stralght41ne bas15 gver the 99 year lea* peric*J. APPRECIATION The Directors wlsh to record their appr&latlon to all member5 for thelr contlnued support during the year a￿, especlalty. to those who gave donat+or6 brge or small to help towards ￿Storat￿)n. partkijlarly for Belfast 168, and to storage costs, parbcU￿rfy In supp)rt of Huthfjersfiebj 541 and Wolverhampton 654. The Dlrertors also wlsh to record t￿r app￿atIon to the Offi￿r$ cther volunteers who gave of their tirT freely throughout the year and wlthoui wh)m the work of the chatrty svr￿k1 ￿ so muth the PCA)rer. In pa￿cUlar, the Director5 would like trj thank the vojunteers at car￿On Colvi1￿ contlnulng to malntsln Bournemouth 202, and to thank Sandtoft volunteers for the care of Hudde￿eld 541. Thanks are al extr￿ed to our memters.. Ajan Holmewood for assistsnce In preparing the accounts and to Vlc gmons who is our IrKje￿ndent Examiner. APPOINTMENTS Ed Humphreys. ha￿ng resumed the Treasurer role on the death of Steve ￿1kbY in 2021, conunued thr(yJgh 2022 untll wr new volunteer, Han5 Retsllid(, could tske over during 2023. Hans was fomially appointed as dlrector in Juty 2023. REPORT OF THE DIREcfoRS NTA Continued 1963 Ltd. 2022 DJREcfoRS Atl Dlrertors are memb￿5 of the Company. The folk)wrrfJ Dlrectors hdd offlce durfThJ 2022123.. E. M. H. Humphre D. M. Lawren D. B. Peayson J. Q Retslllck M. J. Russell T. A. Stutos J. H. Ward Board Member Chalmian (frcqn July 2023) and Membership Secretary TM Di5tribuUon Treasurer Chalmian (to July 20￿) and Board Member Bcord Member 5ecretsry DIREcfoRS' RESPONSIBILMES Cwpany Law requires the Directors to prepare flnanclal statements for each llnan(ial year whlch give true and falr vlew of the slate of affairs of the charitable ccmpany as at the balance sheet date and of its inctsming resou￿5 and applkatlon of resources, Induding Income and expendlture for the financkil year. In eparirg those financial statements, the Directors Shou￿ folbw best practice and.. Sel￿t Suitab￿ accountlng pollcie5 and then apply them conSkten￿y. make jUdg￿rnents and estirnates that are rea￿nab￿ arKJ prudent; and prepare the finandal statanents on thÈ gtsing concwn basif unless tt is InapprOp￿ate to p￿ume that the conwany wlll contlnue in buslness. The Dir￿15 ale respon$b￿ for keeping prO￿r accounting records whlch disck)se wth reasonable curacy at any dme the financ&il posttion of the charltrdble company and to enable them to ensu￿ that the financhl *atements ¢ompty wth the CTrnpanles Act 2006. They are also responsib￿ for safeguarding the assets of the charitable c(xnpany and hen￿ for tsknTh] reasonaL4e steps for the preventIC￿ and detecbon of and other Irregulariues. This reF¥)rt wa5 prepared In accordan￿ wlth the Statement of thomrnended Prdttlce., Accounting and Reporting by Charttles (issued in March 2005) and in 3￿rda￿e wfch the Flnancial ReP)r￿n9 Standards for awer Entitks (effectNe Aprfl 20081. ApFKov&J by the Dlrertors on 15th July 2024 and signed on their behalf by: D. M. Lawren Chairman J. H. Ward Setretary Company RegiBtrabcfi Numb8r Charbty Registration Nurn￿r 937035 28B846 NTA {1963) LIMITED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30 SEPTEMBER 2023 Unrestriet•d fthd8 R08trict6d fundJ Totsl lund• 3010912022 In¢omg (Nots 31 Incom•and endowmènla fmm Donthn$ 7,238 31684 780 45 2,345 252,388 28.930 780 780 Total Expenditure {Nots 41 Exyndltur•on Chyrilabk 35,421 65 13.532 48,953 65 544 738 28,471 52 183 710 Fund￿Sing 738 Total M*t In¢¢m￿l0xP8ndltuT9I b•forn Invostm•nt gain$lllos$esl Unrea¥llsed Valuatlon ot Heritage Assets (Nots 101 Net galn (Lossl In Tro119ybook$ {Nolg 151 3,579 11,187 252.777 168 773 K•t incem•ll•xpanditur•l Transfers between funds Net movement In funds 3,579 3,347 232 11,019 3,347 7.87 253,550 7.440 253.550 Reconciliation of lunds (Note 14) Total fund$ brought forw4r¢l Total funds carrled forward 399,676 399 908 188,893 181, 21 588,5 581,129 .019 .569 Page 8 C•mF4ty Number Ch•nty R¢O8tr8¥0Th ￿mbar 937￿35 2B8146 NTA (19631 LIMITED BALANCE SHEET AT JO SEPTEMBER 2023 lurKI¥ iumd¥ Totalthi&y•Af Fixed assets Tangibl¢ As••ts Ini•ng1i as54ts H•rtW• ￿5•￿ 144.350 145.894 47.100 47.1 rotalllxedamets 144 19t.450 Currént assats 6,037 Ogbtors atts￿￿ 12 J.$79 31.091 10.S49 3t6,597 407,99f 37,263 360.897 369.6Z5 Cr¢dltorn" du•wlthkn ￿ar 16,1ZO 17.61$ 13.463 363 36.871 390,376 398,428 Crndhor4: ￿m￿nts du• aftar 697 1853 399.90S 581,129 Funds of the Charity R•strfrlad 14 181221 18122t 399,W8 188.893 399,676 14 181 Tlr• n*mb•rs ha￿ ￿￿￿￿￿￿￿•t￿n￿trYto obt*th •ft accord￿¢•*1￿*¢￿oA1y0 of Th•sw b••nsv•p•r•dln rt¢wdwJr• th•provlslon• apPk￿l* to •m•ll tolty>￿1•4 subfv¢to tw•￿•# r•*n• •ndth o¢tord4nr•wlth FRS102$0RP. Prthl Nam• Vij rfntr&•me on and Pl&rt￿n Ic NOTES TO THE ACCOUNTS Note 1 Basls of preparatlon 1.1 Basis of accounting These accounts have beèn prepared under the historical cost ￿nVentIOn itsm8 recognised at wsl or transaction value unless othemise stated in ts relevant notes to these s¢￿1n13. The a¢¢ounts have been prèpared in accordance wlth.... al the Statement of Recommended Practice Accounting and Roporting by CharJtles preparing thelr accounts in accordance wlth the Financlal RepOrbr￿ Stsndard applicable In the UK and Republic of Ireland IFRS 1021 applicable in the UK and Republic of Ireland IFRS 102) issued on 16 July 2014 together with Update Bulletirt 1 bl the Financial Reporbna Stsndard applicable in Ihe United Kinodom and Republic of Ireland IFRS 102 issued Maich 20181. } the Companies Act 2006. d) the Charities Ad 2011. The charty constitutes a publ￿ benefit entity as deffinèd by FRS 102. 1.2 Going concern The Directors consider the Charty to be a going concem. In reaching this decision, the followlng factors were rdevanl.. al The Charity is solvent bl Ther& are no potential bad debts that woukl Impact liquidlty c} There are no significant credllor8 or contingenl Ilabilrties that woukl affe¢t liquidty d} Thére are no OLtstsnding overdrafts or loans 1.3 Changg of accountlng pollcy In accordance wrth the Charty SORP, the accounts now in¢orporate a 50% inve$lment in a joint venture wth another UK Charity. Further information - see Note IS. 1.4 Changes to accounung estlmates A fair value for the HeNtage Assets was introduced in 2019- see Note 10. 1.5 Material prior year errors No material prior year er￿$ have been Klentffied in the rewrtlNJ yoar. 810 NOTES TO THE ACCOUNTS (Continued) Note 2 AcGounting pollcles 2.1 INCOME Recognltlon of In¢om• These are indudgd in the Statement of Financial Activities (SOFA) ¥then the Charity becomès entitled to the resources. Off8ettJng Thore has been no offsetting of assots and Ilablllties. or incorne 8nd axpenses. Grnnts and donatlon Grants and donations are only included in the Sofa when the genetol irtcome recognition criteri8 are met. Legacies are included In the SOFA when receipt is wobaNo. Ihat is, when therg has been grant of probate, the executor8 have ¢$tablished that there are sufficient assets in the estate aT¥J any ¢xJndf(lons attached lo the legacy are either wthin the control of the charity or have been meL Legacle8 Govemment grants No govemmenl grant received in 2022-23. Glft Ald receivable is indud8d in income when there18 a valid declaration from the donor. Any Gift Aid amount recovered on a donation Ss considered to be part of th81 g and 18 treated as an addkn'on lo the same fund as the initial donation unless the donor or the tern￿ of the appeal have specffied olheTh¥i88. Whwe a Grft Aid donallon is subseouenlly found not lo be v8lid, the donation is added back. T￿ rèelaims on donation$ and gift8 Contractual inwm8 and Thls Is only Inrjuded in the SOFA once the charlty has provided the related gcods ur perfonnance related services or m8t th& performance related ¢onditions. grants Donated good Don8t8d goods are measured at f8ir valuo {th8 amount for whi¢h the asset could be exchange(11 unless impractical lo do Bo. Donated serwiees and facilities Donated services 3rd facllities are included in the SOFA when al the value of the grft to the charity provl¢Jed the value of the grft can measured reliably. Donated sarvices and farylities that a￿ consumed Immediatety are racognised a5 Income with an equiv8lent amount T￿OgnISed as an expense under the appropriate heading In the SOF The value of any voluntary help re¢eN¥d is not Included in th8 accounls but i described in Ihe fNSto0$' annual report. Volunteer help Income frorn dgpo¥its and This is includ8d in the accounts when ￿ceIpt is probable and the amount recaivable Invgstments can be maèsurad relrdbty. Membership subsuiplions %thl¢h g￿e a member the right to buy service8 or other Income from m¢mb•rshlp benefts are reco9ni$od as income oamad from Ihe provision of goods and serwi¢es os sU￿¢rfpf1on¥ income from charitabla 8Ctwities. Subscriptitsns received eoverfng period after the year end are treated 85 payments in advance and sh¢)wn in the accounts 8$ creditors. Page 11 NOTES TO THE ACCOUNTS (Continuod 2.2 EXPENDITURE AND LIABILITIES Llabll rAcoghlUon a￿111￿5 rwnis•J ￿re rnore IIWth•) not tr*ttrkWO IS or¢￿$trUrAIVeObl1oa￿c corrffiittiry the charityto payrArt resource# end the¥n£￿nI 0flhwtobi90b￿ w be M￿ur*j *lth reaK*)8b* ryrtainty. Th¢)s• COSts rdauw ID IL% lea￿ re8Dongltilities and carryina tyjtof IhthrduU88 bvY* Clr8c*rs and other Offic￿. Go¥gin•n¢• est8 Cr•dlto tharity hascrndttuswhith are rMawJed at 5dt1em￿l amO￿ts I￿$ ￿trade￿I￿OI￿18. The rvji registerwj forVAT. Th8 Cbamydaim5 tha 8wU Ir8ding tsx &wnplion in orderto L*ex8nty frryn paythg Corprrttion Ta%￿ its n￿￿lItab￿ *11¥￿98. 2.3 ASSETS Tanglbto Ilxgd These are o)italised Lflheycan be usthj formcn IhBn or* year. ￿j0)st ol ￿all£l,￿). GSOts for They arèvalwd 81 co¥1. by tharity The 0mlts88￿(￿) rale¥ and Metrjds used are dIsckn￿ in Th)kn8 Intsn9iblo charty ha5 irrtanuibl8fixed assets, that is, rw-mor*2ry Assets bw do have phy51ral substanco buiaTr idonufiaw fixed a88Ot8 ¢￿tr￿led by th8 charity thrwJhcLLStodY￿1eg8l Tha an￿r￿satiOn r8tss ￿ methods US￿ arg di5￿080d in nrAe 9. Th&¢halty has ostsets, that ￿n4n￿r￿2ryaS8fjtsWth hY&tor￿. artfdtk, wentific, ￿n￿o91¢￿, oe(whysk81 or￿}￿7r0r￿nan￿q￿altt￿s Ihwi Aro held and wAintskned pritwalty fOrtr￿cLI]￿lbutirffi to krth4Wg& ond ¢LItu Th8 falrvabJ8 Sn tr08Lwun& Is da8crib8d in nDte 111 As%Bts Stoc*• Stocks held for sa1• a% partol t￿*18 Total exp¢ndttur¢ on Fundrai•ln Cos1¥ 85 52 6S 8S 52 Cov?rnanG• OfflGern' Tra￿￿ athj Meets￿* lTr)ttr 71 Accountarw ￿ndA￿lI n￿￿ Vttiing 183 Total o ndiiwrg on Gowrnanc 183 Bank P8 P¥1 Cha Total other exwndltum 738 738 710 TOTAL EXPENDITUAE SD.769 50.301 Oth•rlnformaUoD'. trrfty or Acttrdkn wn4•rtakM dlF•c Incomp Exp•TrdMur• 2031122 ivly 1 stQTggo. KIov£m•Msffid Rel￿rthn ofTioitybJMg 15.492 15.492 1,797 506 4,414 13,536 3eB 893 292 3,740 Vntt 1¢ runn ostsqxt Troiwooks Dwtnbui Sale ofTrolaty boDkJaThd merth8ndi8* Art￿rty5 1T,780 31.fj93 16.768 ,410 17 ELLOUQH STORAGÉ UNST RUNNING COSTS: 2022 to 301h Septsmbw 2023 1,692 Z021 to 3 Septembor 2022 Aerrtand FlSt£• SorYt•and Chr9e E￿￿rtY sU￿￿Y La￿lOrd5 Amorl¥aY 283 233 91 1,544 4.062 4￿20 could be DKV￿XIMatdy£170 pefannuffl. Rat•8 aTecov•rtyJ bySm4 Buth••i R*8 R•W Mote 5 Fèm for •xamlnatitin of the accounts: Thky Last ywr Ind8Fénd*)t8xaThwr*s*es (WDbanol Assur8nc• 9grvt45 cthJrtrATh Ind8pwWJ￿rt eXan￿n•tknn nla nl8 Olh*fè6s If￿ 6x8mpl•'. ffiDOnciql advice, corALltllw, Jemtssl tr) I ThlowlfrntexFrniier.Trolleybtr)ksA￿iI¢rf8 fte INTApays hall tsf fae of£dODI 250 Pag0 13 NOTES TO THE ACCOUNTS (Continued) Note 6 Remuneration and Expenses Thls ye•r Last year Numbar of employees during thi$ year or tho last y￿r RemuneralM)n paid to Director8 B8nefits provided to Directors Note 7 Directors. and othor Officers Expgnsfts Type of expenses reimbursed Thl? Tr8v¢I Sub¥lstènc• Posta e and 5tstlon• Stora 183 TAL 544 183 Th• number of Dlrectors and other oificers who were paid oxDon8os Nots 8 Tangibla flxed assets 8.1 Cost Tanglble Fixed as$*ts Total Fixed assets At the beginnin9 ofth¥ ar Addltlons At end oftha year 152.842 152,842 152842 152 842 8.2 Amortlsation BaBI$ Straight Line over 99 years in A ri12018 At the beginning of th8 vear Impaimient Charae for thg Year At gnd of the year 6,948 8492 .3 Net book value Net book value at tha bgainnina of the Year Nel book value at the end ofthe vear 145,894 145,894 144,350 144,350 8.4 Impairnient There was no provision for impaimient at 30 Septemt*r 2023. Th•r¢ will be a professional revl&w every &S year8 tci dètèrmine this provision. Note 9 Intsnglble assets The Charity has th8 follewing intarrfjible assels... Website Goothll for Trol￿ybUs Magazine Goodwll for ￿ interèst in Trol￿ybo¢ Memb&rship List Customer Li8tfor sale of Mgrchandi59 No value has been placed on Ih¢se a88ets. The tsvo lists ar• $ubject to tho Data PrOtsGt￿ Act Paga 14 NOTES TO THE ACCOUNTS (Continu8d) Nots 10 Heritage a$$ets The significance of Ihe Heritage A58ets is set oul In the Directors, RaporL The followin are considered to Herts Assèt8 Purchase Market Value 3010912023 Insured Valu OIOW2023 R¢pta¢8m8nt Gost111 Accounts alu• 3010912023 H8rfla Asset Date of Purchase Acqul*ltltsn Value Restorati Costs Trolle Bournemouth 202 Hwjdersfiekl 541 Wofvert)amptoD 654 131 Belfast 168 121 Ha5tirvJ5 45131 Mayplw TB & equilment 1965 £101 donated donatsd donatsd dondtsd donatson £14.3C £53.655 £10.0)0 £15.000 not appllGablo not applKable not applkable not applkablg £250.tx]o £200.fpJO £200,C4Y) £200,CM)O £150.tKM) £50,CknJO £10,Tr)0 £16,CI)O £l,C(rf) £6,C £5,C¥Y) £1.000 £6,CQJ £93.331 2022 £J,L £3,C#XI PhtstoqraphlG coll9￿50n R. F. Mad( collection Harold Breartey colk8Ction LeDlne- Smith collectlon £700 £50 £S.CO) £5,(N)J 2022 don8tion £100 £100 rimet•bl¢ Collectton T￿￿tab￿s pu￿1shed bv Biits Transport OD8ratU5 £400 Spare Parts arml Equl •nl TOTAL HERITAGE VALUE ole 2.. being ￿$tored. nearing complebon. Note 3.. 8waitinA rt$toration Late 19608 £50,000 £78 000 È5,tsJO £161 586 £25 0[￿1 vo1uatk￿- Troll•y Vehl¢les Tha Charws knt Offi￿ Trolley Vehicles fo￿7 the gwte5t part of it5 Herrfage As88ts. Each ¢lthe88 vehKks. In Its wayls Un￿￿8 8nd i￿eplaCeabkn by oth8rauth8ntlc Veh￿￿￿. maklng valualkjn a highty 5ubjEd¥a Matter. The Board consthrn Ihot thre8 pthc*al Iptknn5 ￿￿$t f¢rth8 valu8ts.on ofthe¥e as8ets. namdy . The Mart(et Vatyje likely lo be o¢hbwl rf tho ¥vhlcb wero lo b• Iransfeired to another fike chaii18L* bc** {'Mirket VAlue"l. il shouhj be noted that OFPOrtun*yfor 5u¢h transfer8 ￿thIn the charftsb￿ sector is gfealy wtrict8d. -Tho insur&Y value of Ihe vehth whew tt Is mainlaineA1 In wvrkir*J orderfor use at 8n operatirYJ mw88urn I'lnsuffjd Value.). ' Th8 èstimated totol rabufld cost of tho vehido follwng ma￿rdSMa9& or almost total destruction. It Should be remembèed that th8 her*ag• value of 4 veh￿￿ almost totaly reeonstructed. and thus eff¢d￿alY a replK8,15 much ks8 than thal of an authent￿ orwJin81 1'Rebui￿ Cosr'i. Forthe pu￿ ofthl$ swftmary, th8 8oard ￿nsId•r8 tt Pr￿entt0 adoptthe greater amounts und8r PlaffKei Value and In$ur¢d Value, gmng ¥ total 01 £47100. HO￿￿3r. this cannot ba cMstruéd as FaIrval￿ und8rth& SOIIP rulg. Valuotlon-sparo Part5 ar￿ Equipment The Chanty has am88sed g quantily of autI￿1C sparo part$ and eqUIp￿Trt ¥pproprKa18 fer use in thè rtsteratitsn and wnlinuod operation of its fttL of these comporent5 ar8 almost 1W yearn 0￿. many prcduGed by manufacturets that have long 5incÈ d169pwred. and duplicate¥ are rv)w mgst unlkdy io be found. E%*ntual use of thesp components in rE¥toration pregrammes WMI substantialty reduce th& total ¢osts of thos8 progrnmmes. 8Stlmated thatth• total va￿8 tsf all such SPBTe pats 4ntl equlpment Is or thè ordarof £50.OW. A key l$su815 for8casUry which ofthe$e ￿11 be used to r85tor8 or ropaw NTA ￿hle189 and which mlght ￿ sold foi uso by olh8r pre5ervatson prqe¢ts. The￿lore, thls cannol GOn5twed ¥$ Fa￿valUe underthe SORP ru*. As there h no inv8ntory to $vpport thg figurt ot £50,0fy). thls Herftagè Asset has been v8lu8d tsmpJradty At £S.QOO. Hi¥tori¢o1 do¢um•nt& plÈr*, artots¢ts •t¢ •nd Archlve colloctlong ThB Charfty maintalns an arch￿ ot such rnaterf81 rd8¥ant to trol￿Ybus Opera￿0￿ b)Ih In Brtsln aThJ abrood. Some phowgraphs and th8 timetab￿ Co1￿¢t￿ pur¢ha$gd and thoir Ma￿£t value 1$ known. Som¢ sud)1￿3 provth valuable sources of infcrnalion f¢rfutsHe ￿e0￿h and thè art•facts wouKI •chwe slgnrf￿nt prtis rfoff¢red for thg cpen marf¢gL 111% 8Xtrem&ty dfficutt to plat* a valu8 on Such items ￿11 th• Baard considers that 8 fyur8 of £5.￿0 in totalwouPJ bo a reasonobte ¢onseTvaiNe est¥natO 89 the fair value utsjerthe SORP ruK9. P8ge 15 NOTES TO THE ACCOUNTS Icontlnued) Note 10 Heritsge assets (continued) Hèrita0• Asset Loan8 Trolley Vehlcles l. Bournertiouth Trollo￿* 202 By an aar8ernenl dated 101h M8v 2￿8, Boumemouth trolbybus No 2021$ on ￿an to the Ea$tArNlia Transport Museum Societv Ltd for a pèriod commencina 1slJanuary 2008. ￿ne￿able in 2025. The said Sooety 1$ ents"Iled to all income ari$ino from Qxhbi ition and opeTrtK)n of this ￿h￿Ie atthelr Tran$port Mu8eum premi58$ at carft￿ ColwI￿.Th0 vehid8 is accormi￿at0d and $gNC8d font IMO. 2. Huddor8fl8ld Troll•ybu$ 841 By an aqreementdated 27th April 2008. Huddèrsfield 541 ￿ on loan to SandtoftTrartsport C8ntre Ltd for rent of £4,200 DaKI for S vears In advanc6 frem January 2018 forth¢ period lo December 2022. Thi$ rent ha6 begn paid in fijll for the 5 Ygar temi. A ￿ is payab￿ to the NTA when 541 is op8ral8d. Note 11 Stocks 0th8rtsading aetivtiies: Th1¥ year Last y•or Op•nlnq St¢¢k *¢•tth ￿y•ar 7,694 5,724 Addpd In y￿r 16,122 9,772 23,818 15.496 I9￿ Gogt ol •al 16.767 7.802 Closlng 8to¢k It •nd oly••r 7.049 7.694 c4lThJ Stock consists of Books deo8 Totals 7.031 18 7,049 7,678 18 7.694 Puwlcatsons, vbJ8os and mr*J8ls for re-sale are vaiued 3t£o&l pxcept forsoffje Trolkyb(K*& and Lieuo m(yJels v3lu￿1 at nl. Stock ￿ bar￿ mmbers 0fTm1￿bu8 magaz1￿. are not kncwed In the acCo￿ts to th& unr*rtaln nHtur6 ¢ftt¢ir ￿81[Sa￿a value. Tho numbers heh1 #1 fv on4 oleath ye￿￿r9.. Nots 12 Analysis of debtors Thlg v¢ar L•9t voar Tradè dabtor5 Prepayments 8nd occru8d incornè Gift Aid incc*no l¥< rgbatg Due fr(Mn JolnlV8ntu 3.811 03 5.781 Total 10,650 37,263 I Irade debtors are due wthh ono y8ar. Nots 13 Analysts of credltors Amounts lallln9 due wlthln ono y•ar Amounts f•lllng duo aftgr ￿￿19 than on• This v•8r La•tv•ar Thh vear La8t¥•ar Tr•J¢ ¢reditors Accruals and deferred income Sub8¢ription8 pad in odvane Other creditors 9,346 7.556 10 4,455 5.140 697 2,853 Tot Pag8 18 TE nug Note 14 Ch8ri funds 14.1 D•talls ol matÈrl*l lund5 heldand mo¥•ments durln 'K•y.' R. Mtrlctsd ofth•charfty.'andU. u￿r*￿c￿luff￿s th• CURRENT r¢ 9 porfodyearto ao S•ptamt•r 2023 un b•l•nce ¢airKgd •n¢•4 brought fr)n¥ard RorLf Exp•Trdknr• Tr•n•ler• 0￿ert￿rn nTrole 5051 3,875 Hasti Troll bus 45 Bglts¥tTrolleybJs 168 HL￿d￿fi￿1d Trcl Resitr•tson and Stora R#610rnion and StThaotr R9Str)￿l￿ amd St 18.5UO 2,123 970 9,656 7250 150 541 7SO 2484 rDll•vbtK)k$ JthtV4nture to Publi$n TrfA•YbJE 2,￿9 3,896 Fund PwchABO Facul￿1 145.894 1544 ¢A81 Restrfcted Funth Unr¢$triet&l UNebldrtsJ 01¥ 47.10D 352.574 Fr£• R￿￿8¥ Tctal Furt(l• o• pw •ho•t 4D.347 26 768 60,299 S,347 2.8 601,11Y 142 D•t•lh of m•t¢ro1 lund$ h•ld and Iriovemgnt4 d ng th PREVI 20tt.22 balarK £4rd•d Fund Roru. bmught IoA¥4 sfqr4 roll¢￿¥ Trt4eyM• 45 ast e￿6188 ersfl* Trole and Stoiago Re$ioTrlw and Stora esiora tora e?torabon ra 18.099 1Q.588 2250 1874 764 147 438 625 IS￿90 1.373 750 772 1.5QL 123 $541 enwre Ase ol Sior4 14U94 To Fund6 4374 In J.100 oo Urts9thGted Free Rtteryes 70ts1 Funda aB p•r bJl•YK••h••t 101,226 130.017 25.042 .41$ 956 668,868 Dds Unre•1th1 AmouTht£ 4.&12 317,594 eser¥tsdosi ttAto Dia from DonHtb)nA 17 NOTES TO THE Accoumfs {Contlnuedl Not• 15: Jolnt Vgnlur•- Trolleybookn Jolnt Publkatlon Panel Thè TrOl￿Y￿00ks JointPublkei*D fTh8 Pa￿1 li &￿￿￿1¥￿￿j￿È ￿￿•d kneqjol bhaw tyth• Bthlth Tffjllws IB rngisterwlchwty) nd NTA IIWI Llmfted The Panelfurth￿S 49 ￿Tr￿n1 LY0￿1*0￿￿￿8. Thfj Ppnd'•affair5 cOrAti￿tion. Ihècurrafflvwwon ofwhkh ￿ dat4d S•ptwTrb8r2014. Th• P*n￿,￿¢0njtibj￿oll 4ffim$thot baBKfvncith 1$ ¥énany mdleA•l ￿￿￿ybu#•Iw￿kh moyb*clln*e•ttoth& mwbors ofthets¥0so¢i￿*1, uio the puLlirat L9rge. and iofvrth¥the oi8¢bws•fthe n OfthvAC￿￿￿￿01T1￿h bOOk• The ?023￿￿u•l occounis ￿TI¢l1•Y￿￿￿ A￿10 bgexamiThgd by4n al￿NDr. Thfrfrxam5nalloTr￿l IndLKtea rnMrd$ ktplby thè Ponel and&¢wpar&on Lrfthoa¢Munth againstd￿tr recardj. hwill aho in￿￿dI ￿￿￿¢￿1￿y￿nUwjI1y￿8Qr￿￿￿*W•¥ ￿ tskneawDun￿, Aid ieek$•xd￿￿Dn$ frvrn the Pan￿ sn*mtw• Pl￿d￿re5 u￿￿takand0 al trn•YitsK•thèt4x¥JW ￿requir•) •t4n audit￿. oJn•e4UQntty. ￿￿oe& Mt*wess an Ok4nv)n 0D￿v￿g￿tn bv the acc(wi)ts. Istes Y•argnd•d JI D4c•mts•r2023 31 DoceThhr2Q22 4Thd Loss Saknof books and publicolor 1.30S 1.55$ add 5tLKk aOuKb))Antio ulm•ted 1.5SS 0¥grhuats 1.225 N•tP¥oftt Balanc• S 5.102 3.845 De￿1¥8 12,2C6 134 12,074 CrqdkL*B ASSETS 47 AvthblBfoTDtstrbAon 12.Q24 5.478 P￿lor￿aY￿ar 12.3SO io. TA{IH3IUmttqd n¢•at314iDtcerrthr F￿￿ .024 074 NTAI1W)Um*•d 50%LI B*4fth ￿ 1JiJJr 6P12 2,7 2YXJ 2YYJ 3.871 6,012 FW lov8￿￿nt N•¢in¥e•&Thnt Nots 16 R•llltsd P4rtyTrnn•Aclbn PiuB 18 INDEPENDENT EXAMINERS REPOXT ON THE FZNANaAL STATEMENTS To th• M4mb•rs of NTA (1963) Ltd I rer4)rt w the atcowts ofthe Cot)wny forthe year eTwJed 30 5gptember 2023. The tharfty's thr¢rtors are reSpo￿lb￿ forthe ofthe The tharfty'$ dlrectors consklerth* an Jud￿15 npt iequlred for thb year wder se¢riJn I of the Chatltres Art 2011 lthe Cthadues Att) afid that an IndoF¢ndent exarnln•Uon Is neeil¥l. my resTr)r&t41tty ts: •xamlne the accounts undersettbjn 14S of th¢ ￿arl￿e5 Ad: to lotknw the procedures lahj dovm In the ger*ral thrEctsons gr¥en ty the commw dersedim 14515llbl of tho Charths Act; and to stath whetherany partkular mattets h)ve to my ottw)¥on. 5 rflnthp•ndent •xamlnorf$ st•t•m•nt My exarn[na￿￿ was cart1d out In )¢eordèr¢£e wlth thé g¢neral dlre£U¢ttS by the charlty Cornrnbs￿n. An ¢xarnkn*￿ Indydes a rev￿* ofthe record5 kept by tr* dHrlty 8 comp¥tson ortt gcwJnts vAth r¢Évd& It atso Indude5 thrtstderaijon of any unLwal tteffls or ¢*ck)suMs In the aLtounts, and seekln9 eX￿nath)￿S from the d1￿ctor'S Con¢¢n￿n9 5uth matters. The procedure5 undErt•knTr do not prDvlde all the evldente thatwould be requlwed In On and ¢4)￿￿entlY no (Onh>n Is glven as to whethv thÈ accourbts kYUErta ￿e falr vlÈw' and the rep)rt 5 tlrtitd to those matteysset In the statsment b¢tow. (C￿￿ctIOn vAth my exarrlrotyw. rb) mlterlal matters h•ve come to rny att￿￿Tr". thkh 9hs me C￿set0 bdleve that In any matsrlal ￿spert.. 8cLxuntrw rocord$ wpre not k8pl in #¢¢w¢anca with s•th¢M l*oflhe Ch•rlde8Artor the a￿)unt$ do not acoxd ￿ tho récorf$ tha accouni¥ dpj not ¢¥Jmptywtth thE app￿tt￿bkn rffjuirerrwjnts c4nc•mkng tho forn and of acu)unts 88t out in tho cfHthes I￿￿Jnt6 artd RèpDrtsl R8gutstityn$ 2QJ8 otherth•rt any rwArwnonlthal the aGo)tsnts 9￿￿6 *dtsif [• not4 mattor Gon¥klorthl 8• P8rt ofln lidoperklent exam￿11￿￿. I have tome au055 rrf) 4)trer mairws In c&)Metth)n wlth the exarrlnatknn to twhlch Jltè)Ucffi thc4Jld be wTr IN ¢rde*to enabk to a proper uThlerstandlThJ of the •c¢ounts to be reac￿. Sbno Addr•ts 8 BeNldt PIA W¢lvon Garf•n Cty H•rtfordsh AL7 4TU P•]8 19 To th• of IrrA (1963) Lld olthe Charlt5e5 Act 2011 (the Chatths *4) that an exarnln&tkn * r*eded. It b rny r￿[￿￿bIllIy to.. Ur￿er sethn 14515)Ib} olthe ALt; and ¢xarnlnaUon Intlude5 o revkn¥ d the kept by tt* tl• ènd a compart*ft olthe the accourts. and seek1￿9 explJrb)¥or6 from the dtrertr