NTA (1963) LIMITED (LIMITED BY GUARANTEE) REPORT OF THE DIREcfoRS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
NTA (1963) LIMITED (LIMrrED BY GUARANTEE) Contents of the Re ort Dlrectors, Report Pages 3-7 statement of Financial Activltles Page 8 Balance Sheet Page 9 Notes to the Financial Ststements Pages 10-18 Report of the Independent Examiner Page 19
IREcfoRS NT The Dlrectors present thelr reFKJrt aThY the flnanclal statements for the year ended 30th SeKemter 2024. srATUS 11963) Umrted Is reglstered In England and Wales both as a company liMd by guarantee number 937035 and as a register&J charity number 288846. The company changed Its narne to NTA (1963) LIMrrED from the frolleybus Museum Company Limited on 7th June 2012. The Company Memordndum of s(Kk4tion sets out ts objects and power5 and It15 governed uleT ts Artkles of Association. The panY also operates under the name of National Trolleybus Assockiuon. MEMBERSHIP meMrShIp of the Company at Septemter 2024 was 399 pan9 members u$ 11 honorary members. a total of 410 athough some late renewals were expected (at October 2023- 430). Annual SuCpnS were set from l October 2019 to the folk)wing: Untted KingdLVn'. £26.00 p.a.1£S0.00 for 40 years Rest of Europe: £30.00 p.a. Rest of the Worll.. £35.00 p.a. Each memLkr of the Company guarantees the debts of the Company to a totsl of £1. Thi5 guarantee cMtlnues to hold well for up to Ce year after sIng to be a rnember. OBJECTIVES AND PUBLIC BENEFIT sfATEMENT (a) To advance public educab'on by establlshing and malntslnlng for the benefit of the natbn an operating troifeybus museum and for the Ilke purpose to promote the permanent preseatiOn of omnlbuses and trolley vehldes and equlpment, and Stems of geneRI transport Infrrest of artual or potential h15torfc or sclentyflc Importan and educatlve value. (b) ExhlbltlThJ to the pubjlc any such vehicles, equipnent and item5 as aforesald ty means of temporary or permanent exhIbIS and to demonstrate and asslst In demonstratlng to the publlc the wn9 operation of any sud) vehicles, equipment and Items by ffleans of ststlc or mobile displays and by carrying the public on such vehides or OtheIse. {c) To promote and further the study of and $earth Into trolley vehldes and trolley vehicle undertskin95 and other forms of transport aTrd the hlstorkal, 50enufic, sodal and other a5Fects thereof and to publlsh the results of all useful research for the benefft of the public at kirge. PRINCIPAL ACTivrriES AND BUSINESS REVIEW In pursuance of Its oblettlves, the Company undertook the followlno athvltles durfng the year. •) Ownershlpi Restorntlon and Preservatlon of HSstorl¢ Trr*lleybuse$ for Publlc Exhlbltlon Oe/ffast 168. A 1949 Guy BTX wlth a bu1 In Northern Ireland by Harkness was the last trolleybus to QLErate In Iland In 1968. Located at the Keighley Bus Museum for restoratr'on work since 2015, it was moved to Ellough In earfy 2023. An apFeal for donations was boosted by PU1c3th)n of the HlstoryofBeMJst Trolleybuses by frolleybooks rx)nations of £31,700 have receNed, including Gift Ad, and restoration work has c05t £115,000 far, Induding rent. Restoratt'on wa5 well adVand in 2020, when new window pan5 were fitted,. but wa5 Intemipted In 2021 and the board Is Itwestlgatlng how st to conunue the work to the high quality already achleved. Durlng 2023 addthnal spares were purchased that could be used In 168 or other vehicles. Bournemouth 202. A Sunbeam MS2 bu1 In 1935 and converted to open-top confvjuration in 1958. It is one of onty two 0-t0p trolleybuses in the world and is in active museum Ser at the East Anglia Transpl Museum. The loan agreement wlth EATM run5 untll 2025. It Is now due for a re-palnL
REPORT OF THE DIRECTORS NTA (Continued) 1963 Ltd 2023 24 Hastlngs 45. A three-axle slngle-decker fft Guy thassls and Ransomes, Skns aThJ Jefftles body datyng from 1929. A fund for ts re#ornUon stood at £17,191 at September 2024. No restoratkjn plan h35 yet been agreed fcf 45. HUddeRId 541. A Karrfer MS2 wlth 70 seat Park Royal tK)dyi entered sece In 1947 and, In 1966, becawe the first priwatsly preseNed trolleybus In the UK to operate on another trolleybus system, wn was used for a tour of Wofvethampton. Restoration to Operating COndOn was CJmpletsd In 2010 and 541 entered museum Servi at the Trolleybus Museum at Sandtoft on 291h August 2010 Whe fc Is housed under an agreement, L75t renewed In 2022, whth runs from 1st January 2023 until 151 January 2026. The cost of storage has been largety covered by generous donations from our member Dav1 Beach. In 2013 the vehlcle operated at EATM for a weekend with 202 in celebratirx) of the 50th annlversary of the NTA. In 2018 It ran at the 50th anniversary of the closure of Huddersfietd trolleybuses event at the Trolleybus Huseum at Sandtoft, followed by a 51mllar event In 2023, The Board wlshe5 to thank our member Dovld Beach for hls conunued generous supm for thls vehIC and Sandtoft Volunteers who kindly Icw)k after 541. Wolverhampton 654. One of the last Guy trolleybuse5 bullt, belng a BT Mc¥Jel of 1950, was moved from Northamptonshlre to the rA store at Ellough in 2022. The fund for the restorauon of the veh st(N)d at nearty £12,814 In September 2024. A stratsgy for renovaung thls vehkle belng develoFed and thls Is to be the next major re5toratlon project. We plan to move the vehlcle to a restoration contractor in 2024 or 2025. Naypine Trolleybus andEqulpmert The IA scaie trolleybus system constr(Kted ty our member Peter Leplne-smlth, who died In june 2022, was bequeathed to the NTA and was rernoved to the NTA store at Ellough for the time being. It comprises a mlnlature Readlng trolwbus and a tower wagon Wether with overhead wfjrlng, Indudlng frogs, We hope that the system can be Installed at a transFM)rt museum for the enjoynt of the publlc. The nrst steps are to trdce the vehide wirfng and restoring It io womng order. stor4we Depot. Our building at Ellough In Suffolk Is held on a 99-year lease and the NTA trnk possesslon In Aprll 2018. It Is Included In the account5 as a Tanglble Asset. Tre location ts dose to the EATM at Carfton Colville. Apart from trolleybuses, it has Spa for archives and spare parts storage. The dimensitins of the deFK)t a such that up to four of the NTA'S five trolleybu5e5 could be housed but the Intention Is that, In normal drcuMstsn$, it will accomm(Klate three vehtles. The ct)5ts of construction were met from donations and from the NTA'S own resources, including contributn5 from the WolVert)amp] 654 and Hastings 45 fiJnd5 which were agreed wfch donors. b} Publlcatlon of Journal The Cornpany conYnues to produ frolleybus M47gaTh1 bl-monthly trm) tts provide Infomalk)n aix)ut th15 fomi of transph)rt. The magazlne ha5 e5tsblished a high reputatlon for accuracy of a)ntenL quality of presentation and wodd-wlde breadth of coverage. Issues 372-377 were publlshed In 2023124. TM conts'nues in A5 follat In full cok)ur. The page court wa5 IncTeased from 36 pages rAus covers to 40 pages plu5 covers frcth TM 358, Ju-August 2021. The Edltor, Carl Isgar, and Directors woukj Ilke to thank all those who assisted wth TM parUcukirty the News Edthr, Peter Haseldlne and the distribution undertaken by Davld Pearson and all those contribudng arbcles, plLtures and letters to the Magazlne thls year, ¢) Website Since 2023 the web address of the NTA has been The Board wlshes to record Its thanks to Ash Hoare who set up and malntalns the present slte as a contractor.
T OF THE DIREcfoRS NTA (Continued 1963 Ltd. 2023 d) Meetlngs Regular meetlngs were held at Keen House, Calshot Street, London on many toplcs related to British and foreign trIeybuses. 10 meetlngs were hekl In 2023124. Members are also wek¢Thed to Meetings in Readlng and Bradford by reciprocal arrangement with (ther s(xletles. Meetlngs are organlsed by John Parkln who Wtsu wekcffle suggesonS for meetings and wesenters. el Trolleybook8 (Joint Vonture wlth Brltlsh Trolloybu8 Socletyl Trolleybooks Is managed by a Panel of slx membeTS, three from each organlsatlon. The representateS are Ashley Blu, Mike Ru55ell and Ed Humphrey5. It aims to publjsh works of Importan on trolbu5 hlstory and to generate funds for trolybS restoration. The Panel Is aw asslstei1 by volunteers, induding our member Roland Bw former edltor of TM. In late 2024, TrOlleykS pvblished volume one of a volume work on" London Trolleybus OperatK)n" by K. Farrow, C. Holland and R. Smlth. It retslls at £45 and has 312 pages wlth many maps and illustratK)ns. The NTA Invested £1,600 in the Prinng of thls b(K)k, profts from sales are expecled in 2024125. Volume 2 of thLfj work Is eXCts to appear in 2025 or early 2026. Vèrious Qther tiues are in preparatlon whlth Indude a Look on Brddford Trolleybuses deallng wlth the rnalntenance and design of the overhead, a second edltion of Hull Trolleybuses, ffluch expanded, and we hope Trolleybooks w511 publlsh an altrM Prepa In CO-0rdtn w((h the Onllne Transp)rt Arthlve. f) Sales The Company nomially sells puLlicatlons and videos at London NTA ntIng5 and often at London TLRS meeUng5. Sales attended seven events In 2023124.. the Solent mje1 Tram Festival, fft book and collectors, falrs at Elstree, two events at Pudsey, a vintage bus event at Detllng and the Crlch McKiels evenL Some fomerfy regular events we attended have tv)t -started folloYAng the COVID ttisis. The NTA mail-order seNice run by our Sales Offlcer, Philip Johnson, indudes trc41eybus and tram pUIcationS from home and abroad, back numbers of TM and videos and DVDS. Revenue thSs year Improved wh substantvdl sales of donated ttem5 and wrth some new publlcauons. Overall resutts showed hlgh sales volumes wlth gross trdng5 after deduthng postal expense5 of £12,300 and net taklngs of £7,51NJ. g) Collectlons The Company owns the folk)wlrrfJ collectlons of trolwus FthottwfakhS whlch are LElng dlgitlsed.. l. The Mack Collection totals over 6,300 negatfves of UK trolleybuses acquired from the estats of R. F. Mack In 1987 ft £700. These photcNJraphs were mosdy tsken beeen 1946 and 1972, Sc#Me of the collecfjon has been used in TYboDkspUblacadon5. 2. The Breartey Collettbn of ab)ut 350 negafjve5 whlch was left to Company when Harold Breadey passed away. The collection covers the perlod 1900 to 1972. 3. The LeF4ne-Smlth collettton. Malnly of Lmdon trolleybuses In the -D5ddlerf era, comprlsing 5cMne 227 images. In addluon, a collecthn of Pndal Britlsh ttolleybus metable$ was donated In early 2015 and other vlntage Umetables a belng added when pos51b. the Company a150 holds an extenslve number of diagrams of trolleybu5 wiring layouts in its overhead wliing records. FUTURE ACTivrriES The Dlrertors continued all 0ratiOnS during 2023124 and plan Ilkewlse for 2024125. The Dlrertcs are commltted to obtalnIng the finan to restore and safeguard the A'S preserved trolleybus flee¢ to continue the publlcauon of IM to the hlghest thndard5 and tg malntsln an rA Webs to attratt nK)re sltots and mernbws.
HE DXREcro ntin ed 1963 Ltd. 20 FINANCIAL RESULTS AND RESERVES The resutts for the year are set out In the as50dated accounts whlch have LEen subject to Independent Examination. The report of the Independent Examlner15 Induded In accounts, The Income for the year was £37,000 Including donadons of roundly £9,100. tA)natlons to restricted funds Induded near £3,500 towards the restoration of Belfast 168 and £600 for Huddersfield 541. These donations a eliglble for Glft Ald. Followlng a perfod when no Glft Ald wa5 dalm1, a daim for dcfiations and subscriptlons in 2020121 was made in 2023124 and we plan to dalm for 2021122 and 2022123 as soon as practKable. Expendf(ure wa5 rouThlly £28,000, of whKh some £1,800 was spent on trolleybus restoration, movemenL equipment and archive storage. The largest expendlture Item was some £12,200 on the prLxlucUon and distribution of TrolYbus Magazlne. The "totsl funds of the charlty" at the year.end were about £592,000 although £47,100 of this Is the value of Heritage Asts whlch is not realizable. The funds also Indude the value of our Ellough store whlth Is £142,806 aftei deprecbtion. The diLapldafjons fund for the Ellough store was £5,788 at the end of the financlal year, The DITectors dosety monltu the reserves of the Company. Restrf¢led reseeS cover trolleybus restorauon work and storage costs. The balance of unresirlcted reserves stood at over £400,000 at 30th September 2024. These a held malnty to meet unexpected expenditu or a sudden drop in income. Where surplus income and reserves have arlsen In the past, they have been ub115ed for the trolleybus re5toraYon progiamme. We a now able to finance more restoration and the Directors are revlewin9 the pcdi on reserves, Indudlng Investment to yId Inte5t Income. At 30th September 2024 restrthd reserves of £186,600 were held, most of whlch represents the Tanglble Asset of the depot at Ellough and the resi for the restoration of our trolley vehides. The valLE of fund5 for vehlcles is a5 follows.. for Wolverhampton 654 {£12,815}, Hastings 45 {E17,191), funds for Belfast 168 (£4,094) and Huddersfield 541 (£2,334) were depletsd by costs of vehlcle MOvent and rent. No restoratksn work on Belfast 168 was posslble this year but some spares were obtslned. Wofverhampton 654 was Inspected by vehlcle restoration contractors in March 2023 and the report was encouraglng. It was pbnned to start its re5torab)n In 2023124 but thls was not posslble. The totsl cost of building Ei10)h depot was £152.842 In 2017-18. Thbs asset Is belng depreciated on a stralght-line basls over the 99 year lease peilod. APPRECIATION The Dlrertor5 wlsh to record 1r appreciation to all membeis for thelr contlnued sUPPOrt duriThJ the year and, espeaalty, to those who gave donayons large or small to help towards restoration, particularfy for Belfast 168, and to storage costs, esFeclally In support of Hudder5field 541 and Wolverhampton 654. The DlreLtors also wish to recoid thelr ap[Yedaon to the officers and other volunteers who gave of thelr me freely throughout the year and without whom the work of the charlty would be so much the pcy)rer. In partlcular, the Dlrectors woukl Ilke to thank the volunteers at Carn Colville for contlnulr4J to maintaln Bournemouth 202, and to thank Sandtoft volunteers for the Ca of Huddersfield 541. Thanks are also extended to our members.. Alan Holrnewd for aSsthn Sn preparlng the accounts and to Mc Slmons who is our Independent Examlner. APPOINTMENTS Ed Humphreys. han9 reSund the Treasurei role following the (ath of Steve Kirkby in 2021, continued until our v(Junteer, Hans Retalli¢*, couhl tske over durlng 2023. Hans was fom)ally appointed as a director In )uty 2023. Carl fsgar, the ed5tor of Trolleybus Magazlne, was appolnted a5 a member of the b)ard at the AGM on 26th Juty 2024.
REPORT O DIRECTORS NTA 1963 24 DIRECTORS All DSreciors a mernbe of the CDmpany. The followlng Dlrectors hekl offKe durlng the year,. E. M. H. Humphreys C. F. Isgar D. M. Lawrence D. B. Pearson J. C. Retall M. J. Russell T. A. Stubb5 J. H. Ward Board Member Board Member from 26th JUW 2024 Chalrman and Member5hlp Secretary TM Distribuon Treasurer Board Member ard Member DIRECTORS, RESPONSIBILITIES Company Law requSres the Dlrector5 to Ffepare financial ststements for each finanaal year which give true and fair vW of the state of affrdirs of the charitsble company as at the balan Sheet date and of ts Incomlng resources and appllcats.on of resourc&, Includlng Income and eXpendIre for the financial year. In prepailng those flnandal ststements, the DIrett0 should follow best prath'ce and.. select Suttable accounting policles and then apply them conslstentW- make ludgernents and estimates that are reaSDnable and prudent. and prepare the financlal statements on the golng concwn basis unless it Is Inapproprfate trs Purne that the company will tontinue In business. The Dlrector5 are reSnSible for keeplng proper accountlng records which disclose reasonaNe accuracy at any Ime the financial posltion of the charitable company and to enable them to ensure that the flnanckil statrments comply with the CoMpanS Act 2006. They are also responsible for safeguarding the assets of the charitable company and hen for tsking reasonable steps for the prevention and detectlon of frdud and other Irregularities. Thls rep)rt wa5 prepar& in accordance the Statement of Recommended Practice.. ACCOUnn9 and Reportlng by CfvareS (Issued in March 2005) and in accordance the Thnandal Reng Standards for Srrwlter EntleS (effective Aprll 20081. Approved by the DIrectO on 24th June 2025 and slgned on their behalf by,. D. M. Lawrence Chairman E. M. H. Humphreys Direttor
Company Regi$lralion Numbor Charity Rggistralion Numbèr 937035 288846 NTA (1963) LIMITED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30 SEPTEMBER 2024 Unrestricted fund¥ R•$trlcted fund8 Total fund8 3010912023 Incomè INote 31 Income and èndowmbnts fvom Giants fecewtd Oon4tion5 and legackng Chartat49 a[Witl 4.fJ08 26.407 780 718 5,088 9.096 26.407 780 9.583 31,684 780 645 OlhErèaliVthS Invqsimen Total Exp•nditur• (Not• 41 Expenditurn on Cbortt&ble 4ctivtss 5.088 23,064 830 1,823 433 .95 1.831 24.895 830 1,623 433 7,781 48.953 65 544 738 FUndWIng GovÈmAnc• Olhor Total Net incomellexpenditurèl b•for• Investment galnslllossesl Unreaslised Valuatlon of H&rltsgg A$3ets (Note 101 Net galn {Lossl in Trolleybooks (Note 151 5.963 3,257 9,220 7,608 2,072 2,072 N•t in¢om•llèxp•ndlturel Transfèrs befv4•èn funds Nèt movemént In funds 5,963 56 5,907 5.329 11,292 7,440 5.385 11.292 7,440 Reconclllatlon of fvnds (Note t4) Total lunds brought fonvard Total lunds carried fon¥arrl 399.906 181.223 86,608 581.129 592,421 588,569 581.129 Page 8
Company Re.gislrabon Number Charity ftegislrabDn Number 937035 2868 NTA (1963) LIMITED BALANCE SHEET AT 30 SEPTEMBER 2024 Unrestri¢tèd Rgstrict•d funds funLI$ Total thls yoar 3D-Sep-23 Noi• Flxed assets Tanqlble assets Intanglble assets Herltage assets 42.806 142,806 144.350 47.100 47,100 47,100 191,450 fotsi fixedassets Current assets Invtsbment Stocks DebtOTS Cash at bank 7.368 7,368 7,151 11,376 388.829 414,n4 3.696 7,049 10,649 38fj.597 407,991 7.151 8,244 355.527 370,922 3,132 33,302 3,602 Totol ¢urrontas5Ets Credltors: amounts lalling due within one year 11,498 11,498 1T.615 Nel current •ss&ts 290.376 rot213ssets less CUFrenl liabilitie& .581,B26 Creditors: amounts falling duc after one year 711 711 697 Total nel assets 405,813 18e,'6DS 592,421 581,129. Funds of the Charity Restrlctsd Incomtr lunds Unrestricted funds 186,608 186.608 405,813 181,223 399,906 581,129 405,813 Tot81 funds rhe company was enutltrd lo exemption from audlt under5477 of the C%npanies Act 2006 relatlng to small comparjles. 7he memjers ITaVQ not required Ihe company to obtaln an 8u¢lltin accoffjèftce wlth Section 476 of the Cornpanies Act 2006. The dlre¢tots acknowledge thdrresponsibllities for Gomplying wlth the requiroments ofihe Companles Act with respectfo accounting records and the ppatIOn of aCCDunts. These occounts have been prep•red In a¢¢ordan¢e wlth theprovlslons appllcable to smaN cornpanles subject to Ihe small companie5 reyime and In accordHnce wlth FRS102 SORP. Dale of sppioval ddlmml SvJnBd by one directm behalf ofall th8 dire¢Ws Slgn and PrlDI Name tloL125 M . L&knJLE44cE Print nAme SignalurE of diredor auihcniicabng acLoun15 beiro sènito ConyaDEs House Sign and Print N8me Date ddlffl prtiit namo P3yB 9
NOTES TO THE ACCOUNTS Note 1 Basls of preparatlon 1.1 Basis of accounting These accounts have been prepared under the hislorlcal cost convention wrfh Items ie¢ognlsed al cost or IransaGtion value unless Otherwi staled in the relevant notes lo these aoUnts. The accounts have been prepared in accordan with.... al the Statement of Recommended Practlce Accounting and Reporting by Charities preparlng Iheir accounts in 8¢cordaneè with the Financlal Reportino Standard applicable in the UK and Republic of Ireland IFRS 1021 applicable in the UK and Republic of Ireland {FRS 102) i88ued on 16 July 2014 t¢)gelher wh Update 8ulletin 1 bl the Financial Reportino Standard opplicable in the Unlted Kinodom and Republic of Ireland IFRS 102 ssued March 20181. cl the Companies Act 2005. d} the Charities Act 2011. Tho charity constitutes a public benefit entlty as defined by FRS 102. 1.2 Golng Concgrn The Directors consider the Charity to be a golng concem. In reachlng this decision, the folbwing factors were relevant-. al The Charity is solvent bl There are no wtentlal bad deb15 that would impact liquldlty cl There are no significant creditors or contingent Ilabllilies that would affect liquldily dl There are no oulslanding overdrafts or loans 1.3 Change of accountlng pollcy In accordance with the Charity SORP, the aceounty now incorporate a 50Qkn investment in a joint venture with another UK Charity. Further infom)ation- see Note 15. 1.4 Changes to accountlng estlmales A fair value for the Herllage Assets was introduced in 2019- see Note 10. 1.5 Material prior year errors No material prior year errors have been identified in the reporting year. Page 10
NOTES TO THE ACCOUNTS (Continued) Note 2 Accountlng policies 2.1 INCOME Recognition of income These are included In the Statement of Flnancial Activities ISoFA} ¥then the Charity becomes enlilled lo the resources. Offsetting Thera has b•8n no offsetting of assets and liabilities. or Iome and expenses. Grants and donatlons Grants 8nd d4)nalions are onty included in the Sofa when the general income recognition criteria ale mel. Ltsgacies are induded in the SOFA when receipt 58 probable, that is, then therè has been gr8nt of probate, the executors have estsblished that there are sufficient as8el3 in the estate and any conditlons 81tached to the legacy are either within the Control of the ¢harfty or have been met. Loga¢l Governmènt grants No govemment grant r&c&iv&d In 2023-24. Gift Aid receNable Ss Includ&d In income vthen there is a valid de¢laralSon from the donor. Any Gift Aid amount r8covered on a donation18 considered lo be part of Ihal gift and is treated as an addition lo the Same fund as the inltial donation unless the donor or th& lem$ of the appeal have specified otherwl$e. Whero a Gift A¥J donation is subsequently found not lo be valid. the donation is added back. Tax reclalms on donatlons and gifts Contraetual Income and Thls Is only Included in the SOFA once the ch8rity ha8 proed the related goods or performance related sewices or met th& performance ielaled conditions. grnnts Donat?d goods Donale(I good8 are measured al fair value Ith8 amount for which the asset could be exchanged) unless impractlcal lo do so. Donated servlces and facllit5es Donated services and fa¢llitlg5 al? included in the SOFA when received at the value of the gift tts th9 ch8rity provided the value of the gift can be mga¥ured reliably. Donated services and facilities that are consumed immediat&ly are r&cognised as In¢ome wth an equivalent amount recognised as an expense under the appropriate heading in the SOFA. The value of any voluntary hèlp received is not induded in the accounts bul is describèd in th8 Trustees, annual report. Volunteer h•lp Incom• from deposlt8 and This is Sncluded in the accounts when receipt is probablè and th8 amount receivable InSIm*nI$ can be measured reliably. Mernbershlp subs¢rfplS¢)n$ whlch give 8 member the rfght to buy se+c@S or other Incom• from mernbeTBhlp bonefils are recognised as income earn¢d from th¢ provislon ol good8 and services as sub$¢ription¥ income from charftsble a¢tivili&s. SubscriplK)ns received covgring the period after the yèar end are Irealed as payments in advanco and $hovm in the accounls as credilors. Pagg11
NOTES TO THE ACCOUNTS {Continued) 2.2 EXPENDITURE AND LIABILITIES Llbllity rocognltlon LbIlItieS Bre rgco9nised il is more Ilkalylhan nDI there Is # legal OrGonslrLjyÈ thligaN comrnittng thg charily to pay t reswrce8 8rKJ the Bmounl of th81 atsig8lK)n Gan be measured wilh reason3bl8 certainty Those costs rel3lrvJ to fts 031 responsilItIeS and Ihe Carr0 out ofihBirdube5 by tae other offic8. Gavgrnanco Creditorn The thanty hag tt8ditor8 which affj MtrasU al setU•rn8rrt atnDun151o5¥ anytr•Ye dCoUnts. Charity Is not tsgisiered tor VAT. The Charity cL4ims the small lrtdiw tax a¥ernpln in (¥d¢rlo be exémpl fram paying CLwraiion Tax 11$ nctrcharitaNe ac¥iti8S. Tax 2.3 ASSETS Tanglbl• fixed These are c8Pit81ised if they G&n bfr used for mrKe ih&n on8 year, aryj w9¢81 leasl £1,00Q. for Thèy are 81 ¢08t by chailty Thè amortisalion leS and rneththls used are disdosed in note 6. Intanglbl• ¥ed 8886ts The charity has intanolblo fixad 858ets. Ihai16, ntrbrronetaryas861$ Ihatdo not have phyylral sstaD butrare KIentffiae controllJ by th8 ch8ritythrou9h cu$tth or10gal rights. The amortSsallon rates and methods used are disckd In not8 9. Tte ¢nariiy ha¥ henlage 8SSeis, Ihal is, non-monetaty asseis wilh hist¢, arbsliG. 5cieniifi¢, hnO)al. geophy8ical ryenwironm8nial qualit5 that ar8 and rnpinlained pnncipally for theIrntTrtsuon lo kno¥ledge cullure. The fthr valua In tha aGcounts i# deSbed in note 10. Assets Stock Slock5 for salè as pgrt of mTr¢h8ritablfi Irade are rneatsurwj al the kw•r of coster nel reallsablfr val. Gwds prDvided a5 part of a charitae actyvlty 818 measured at nel realls8ble valua ts85ed on ihe seMc• wtenliBI provided by items of. Stoth$ ol now books acquired for sale are ordered in qUanlIesdOed likely lo b• gc4d Ints market swed by NTA son bwks sell betierth others bul Iher&ar& very few exampl•$ of books that h3V9 sold very SV. The 8kncks of Trolleybu8 M4azine are accumulated b¥au80 olthe need to print enough lordiÈtribul lo members while 311(phiry 8CthÉ surplu8 for $aleand publicity ppUs95 and for any damag in tho post. Dobiofs D8biofs lincluding Irade debtors and loans receiwablel are measur&J on Inib"al recagnibon al s8lllernl gmouni after8ny discounts oramouni adn¢0 by Ihe c8ri1y Subseqtly. Ihey are measur8d ktlh8 ¢ash or olher con$hleraiion expeded to bts rectyved. Note 3 Income Roslrfct•d Incom• luTrd• Anatysls of In¢omo UAr•g1rt¢ts 14nd* T¥tsi fvn¢Jo Pilory••r Grants Donatlon¥ Donations 8nd glfts Inc)me Tax reclaimed on Gltt Aid. 2,352 1,656 4.6 4,098 992 5,088 6,448 2,648 9.096 7.870 1.713 9.583 Tgtal 'd$S fflombgrship l••g Charil4blo activiUes'. Member5, Subscriptions Sales of Mer¢handi5e Meeting CollÈ¢tlon¥ 11,906 13.922 579 17,908 13.922 579 28.407 13.536 17.760 388 31.894 Totsl Oth¢r tradlng •ctivilies'. Use of photograph ¢olle¢tion5 Fee for private Irol Sandioft.. 5410 eralin US Use ol Elbu avmeni 780 780 780 Total 7eo 780 78U Income from Inve8tm?nt5: Inlere$l in¢ome~ 718 718 718 TIB Totsl ' Includè5 GAlnt8r881 TOTAL INCOME 31,913 5,088 37,001 42,692 Pag8 12
NOTES TO THE ACCOUNTS Icontinugdl Note4 EXPENDITURE of exp•ndlturg Unro¥trtbd fithdi Aqgtilci•d In¢•m•fund T¢lidfund Lut Expvndltvre on charftabltr SID ofTrouuseS 8n¢ Eq&iLrnI . 5CQ 900 1.520 Movernent and Re¥tOr8b of Trolle BuikJin bu$e# 931 13.972 runnin 4.431 4.431 4.C61 Coyl of mer¢handi&e SDkl (noi& 11 Ma 6.692 5.092 7.400 16 768 7.400 7,644 4,038 57 893 Ma Postage and Slalione M8gain8 Other CDSIS M$O1ing Room Hire To41 oxpendlturo M ¢harltablp •¢tlvltk• 47B3 758 23.064 1831 24.895 FuthdraiBing Advqrtlsing & Websilg To¢41 oxp•nditur• o FundralBSnts CoBts 830 830 830 830 65 Gov•Manc• Offi¢er¥' Travel and Moobngs Inotg 71 Accountancy snd AL¥JIl Annual Swer#l Meeliry 1.318 250 1,318 250 55 55 Total ex •ndiiure on Govfrrn4nt• 1,022 1.823 544 otr Bank and P Pal eh4r Total otb•r expendlliwe 433 433 738 TOTAL EXPENDITURE 25.950 27 781 60,30D hpr Informatlon.. Analy41• of In¢omo and eXnditur0 on acllvlb•s A¢tlvStygr DroaTrmm• kn¢orn• Extr•ndttur• N•t 2022Q3 St¢)IB Flagazlne 15.492 1,797 505 3.518 12,183 758 2.887 1,6 5.784 25.P53 57 Unrt Ic runnln eOllleXC d TrolYbo0k1 Profll Disknbubon SaloolTrolbybus book5 and me(ehAn4i Èè loW 2.8e7 ACttr s 13.922 26.564 992 ELLOUGH STORAGE UNIT RUNNING COSTS.. 2023 to 30th Sèptomb•r 2024 2022 10 )Oth S•ptmber 2023 Rent4n¢ Rotes Sgt¥i¢• ono Chqrgg Ekcln¢it¥ Supply Landbr¢f$ InAurnThC AmoNs4 618 46 1.544 4.061 4431 NDWJtorknl hal been r1¥ Bince th• a¢qLred. Ba$¢don a prev¢¢¢JPfs hll covld bs approxim•tely£170 p•ranfiurn. Rateiareeov•r•d by&mal BusinBg¥ Ratos Rélel Notg S Foos for gxaminatlon of thè accounts: Thli yr 8Bt year Ind8wnd8ni exarniret$ fee3 Assuraiice S£Nicts olherlhan Ind8Dendenl ex4miDalion T8X adviw fees Oihprfegs (for examp". financlal 8dwTr. ty)nsuManw. aLrotarcY9rrycets1 pald lo tho Ind8p8rtdenl eMIn0r.TroNeYb0QkSAdI1•ff¥ leo INTA pays half of fag rf ch¥rg8dl 250 250 Pap 13
NOTES TO THE ACCOUNTS (Continued) Noto 6 Remuneration and Expenses Number of employees during this year or the ksl year Remungration paid lo DirectOf8 Benellt8 provided lo Dirg¢lot8 Th13 year Last yèar Note 7 Directors. and other Officers Expenses Typ• of expen80$ re ursed Th18 vear ast ear Travfrl Subsistence Posta è and Statlon Stora eofs ares Other 897 544 46 680 TOTAL Th• number of Directors and oth&r Offlcers who wero pold •xpen8e8 Not9 8 Tangible flxed assets 8.1 Co$t Tangible Flxed assets Total Fixe asset$ At the beginning of the vear Addrtions At end ofthe vgar 152.842 1S2,842 152842 152842 8.2 Amortisation Straight Line over 99 years commencing 1st Ba4is At the beginnSng of the V8ar lrnpaimenl Chara& lor the vear Al end of th8 yea 8,492 8,492 8.3 Not book valu• Net book value al the beainnlno of the vear Nel book value at thg end ol the vear 144,350 144,350 142,806 142.806 8.4 Impalment There was no provision for impairment 8130 Sept&mber 2024 There will be a professional review every 3-5 years to determin¢ this provision. Not8 9 Intangible assets The Charity has the following InlaThJibb a58ets.., Website Goodwill for Trolleybu$ Maoaane Gotrjwill for 50% interest in Trolleybook$ Membership List Customer List forsale of Merchandise No value has been placed on thase assets. The tt¥01181$ are subje¢l t? the Data Protection Acl. Page 14
NOTES TO THE ACCOUNTS (Continued) Note 10 Heritage assets The si9nifiEJnce of th6 Heritage A$sg18 is set out in the Dlrectors. Report. The followin are considered to ba Hgrila e Assets Purcha8e ma•t Value 301091202d Insurèd Value 3010912024 Replacem8nt C06t111 Accounts Value 3010912024 erfta e ASSÈ Dato of Pu qul$ltlon Restor•tl¢)n Co$ts Troll bus B¢urnemouth 202 Hudder5fiekl 541 Wolverhampton 654131 Bottasl 168 121 Hastings 45 131 Maypine TB & eguipmenl July 1965 £101 donated don8t8d donated donated donation £14,300 £53,655 £6,000 £5.000 £1,000 £6.000 £2,000 £3,000 £io.000 £15.000 not applkab not applkable not 0opIic8ble not applicab £250.0 £200,000 £200.000 £200.000 £150.000 £50,OCbJ £10,000 £15.WO £1.llOO £6,000 £2,000 £3,000 £93,331 2022 E1.000 Photofjraphlc Collèction R. F. Mack collectlon Har0 Bre8Ne¥ eollection Lepine- Smith coll8Ctbn £700 £so donatlon £5.IXO £5.000 2022 £100 £1CQ Tlm¢tsblo Coll8ctlon Tlm8labl8s published by B Tld$h Transport ODeraiors Spar¢ Parts and E ul TOTAL HERITAGE VALUE Note 2.. being ie51ored, neartng Cornpletn. Noto 3.. 8w8itinA re$toration L8te 19805 £so.coo £78 000 £s,000 £47,10LI £1$2 3881 Valuatlon. Trolley Vehl¢l•$ The Charfy'5 neet of fiv& Trolléy Vahicles lorrn the gre818st part of its H8rKage Assels. Each of these vehlcle8. In tts own way, is nu¢ and irreeable by other authentic V8hlcle5. m2king valuauon a hlghly sublodlve m8tter. The Board con$lYers th81 three principal opVons e$t for Ihe valuallon of th888 a$$els, nam8ty...,.. The Market Value likely lo be achved if Ihe vehKlo wero to b? tra(rred to anothgr Ilko chartable body I"M8rket Value,). It shoukl b8 nol&J that the opportunlty for such tr8nsf8r$ wllhln the ch8rrtabk 5eGtor i5 gr8aUy restrfetod. Thg insured valuo ofthe vehicle wher8 It18 mjintsined in worting order lor use 8t an operating mus¢um I'ln5ured Valug'?- ' The estim818d tetal retsuild cosl of the vehEle following major damage or almost total destructn. It Should bo remamb8ed that the h8rllag• value ef a vehlcl8 almost totally re¢onstnJcted, and thus 8ffectw•ty a repllca. Is much less than that ol an authentic original fRebuild Cosr). For the purposes of Ihls summary, th8 Boart ¢on51ders tt prudent te adopt the great amounts under Market V8luo and In%ur8d Valu•, gwifig a tolal of £47,100. However, Ihi$ cgnnot be eon5tNad as FairV4lue under th¢ SORP ru. Valuatlcn.Spare Part8 and Equipment The Charity has amassed a quantity of authonbc sparg parts a1 equipment appropriato for us8 in Ihe $toratIOn and continu•d operation of its fteel, Some of th88• components are almost 100 years okl. many pri)duGed by manufa¢turers thai have lo sinc dlsappeared, and dupli¢ates are rbow mgst unlSkely to be found. EventU81 us8 of these ¢omponenls in r8Storation progiarnrnas w(11 subsl8nlialty rU¢8 the tglal 5¢S ef those programmes. It is estimatsd that the total value of all such 8P8r8 parts and equlpm?nt Is of Ihe order of £50.000. A key issue is fore$119 whlch of thgs¢ wlll be us8d to resto or repair NTA vehi¢k$ and which might be $old for use by other preservation proje¢l$. Therefore. this cannot be con8lrued as Fair Value underthe SORP rule. A8 there 1$ no inventgry 10 8UPPOrt the figure of £50,Otx), th1$ Hotge As80¢ has beon valued t8mporaHty al £5,OLKI. Hl8¢orlc41 documents, plan8, artefacts èt¢ and Archlv• ¢ollectlon8 The CharSly mainiains an archive of such materlal relevant tc trolWbus opemiion beth In Brlt81n and abroad. Some photagraphs and th8 timetable colle¢iion purchased and thelr mark•t value is known. Som6 such itom$ provide valuabl8 80urc8$ of information for future re$earch and th¢ artefacls wouhl a¢h*ve signifi¢anl pri¢e$ rf offered foi sale on the open mathal. It 15 •Xtr8mety diffi to Pla a valug on such ltsms bul the Board ¢on$hl•rs that 8 fi9ure of £5,000 in total M)ukl b• • i•a$onab ¢on$eN#ii¥e estimgte as the falr value under the SORP rub. Page 15
NOTES TO THE ACCOUNTS Icontlnued) Note 10 Heritage assets (Gontlnued) Herltsge A88et Loans Trolley Vehlclg$ 1. Boum•moLrth Trolleybus 202 Bv an aJre8m8nt dated 10th May 2008, Boumemoulh trolleybus No 202 is on ban lo the East AnAIiB Transport Museum Soctv Ltd for a pariod commencino 1st Januarv 2008. renewabl8 in 2025, The Said Societv 18 8nty.tled to all income arisina frcffj exhibition and oDerali¢n ol this vehicb a¢ Iheir Transoort Museum premises at Cadton Colvi118.Th8 vehide is accommodated and 58rvlced rent free. 2. Huddersfield Trolleybul 641 B¥ an aoraem8nt dated 27th April 2008. Huddersfield 641 1$ on loan to Sandloll Tran5POrt Centre Ltd lor rent aorged for pFiiods determined I £2.700 Daid in November 2022 ler 3 y88rs in advance from January 2023 lo Decemb¢r2025. This rent Dald in full for the 3 veor tern. A fee L5 payable to Iho NTA when 541 is op8r819d. Note 11 Stocks Othor trading aclivitl•8'. Th18 yèar Last year Opanlng StoG at8tart Df year Addod In yoar 7.049 7,694 5,794 16.122 12,843 23,81S ¢o•tof 94198 5,692 16.767 Closlng ¥tock at ond of year 7,151 7,049 Closlng Stock con8i&ts of Book5 Videtss TotalB 7.133 7.031 18 7,049 7.151 Publication5. vldeos and models for re-8810 8ro valued al c08t exceptlorsorne Troll8ybooks stock aTrJ Llfido models ¥alue¢J èi nil. The stock and baGk numbers of"Trolleybus Magazlne. are nol hcluded In the a¢¢ouni$ due lo the uncerfain nature of Ihelr realIsab value. Note 12 Analysls of debto Th1$ voar Last vèar Trade debtors ppaym8nts and accrued ineome Gift Ajd incom6 tsx rebats Due from Joint Venture 1.101 3,811 6,309 5,780 Total All trade debtm are due syithln one year. 11,376 10.649 Note 13 Anatysls of creditors Amounts falling du• wlthln ono yoar Amounts f¥lling duo aft•r more than ono ygar Thls Year Last vear This year Last vear Trade creditors Ac¢ruals and deferr8d incomo Subscriptions paid in advance other creditors 4.211 9,346 5,382 5.140 3,129 711 697 Total Pag8 16
ESTO OUNT nued Note 14 Charlty funds 14.1 Detall¥of materf81 lund$held and movernents durfn the CURRENT ro rtln earto 30 Se t¢mber2024 Ror PurybtsB•aTrd R4•trkllon• brought Expondlitsry Tr&nifDrx torwarrj MT bu 654 Re¥toralonand si¥ll8 RtrAkn)rAln SIDre Re$i¢ation am &Or Rè5tvaiionano Sloroll H&51in 8erfè5t frollybus 168 HdderSh¢id TtDlle bus 541 4.33B 750 B31 4.094 2.334 Troll J(4Trt Veniur¢to rmiie bllratlons 3.696 2.072 7n88 Pur¢nÈ9¢olSI trFlltles 144.¥0 1.544 142 8CIS Ttstal R•Strtsd Funds UNesth¢ieo unres& 181.223 47.100 352,806 181.129 Urbreall$Èd Rw&lvallOA FIoBwve Free R¢$gni To¢al lknnd$ 48 pBr+>•i•ncè ¥h¢g1 186.eofj 47.IOD 358,713 fj92.421 31.913 3•,073 2S.950 0 14.3 no EndoUnnI Funo Lytsnwye 14.2 Dat411• olJDatert&l lunds held movomenls dtsr4ngtho PREWOU5 r•portln p•riod 2022-23 Fun4 n•m# b41an¢ brou9h¢ Itor p1•nd Rll8trlcdon ¢4rri• foNard ExpbNJtturn Yran8feis wdwhpmp10nTrI¢ybu1 654 Rejtoraiiun stryaw 16,690 18.5e8 J.eT5 oKast TTOII bu$ 168 625 •70 Y50 541 R8si0rAIn and SIOT ReSiallon alld Slora T11 Wk& UblilI08. Joint v114 sir baoks .250 TOL41 Rostrfcifjd Fund 145.894 188 BD4 UnrEslrfctsd Lknf4Blised RÈV111On Rt5er¥• FtE? R¢stre rothl p•fb4S•nc• Jhoèt 352 574 se8,W 3.247 60 fj0.29• 81.129 14.3 Do51 nalfrd ftsn(Is curroDt rg rti ellr lo 301h S Unre51ricied kBseD4es ttEsI 1ombg¥ Z024 lQ311ons from Donall0Tr5 F* Re5elVWS Amount£ 352.525 3$8 713 Paw 17
NOTES TO THE ACCOUNTS {Contlnued) Note 15.. Jolnt Venture - Trolleybooks Joint Publl¢aUon Panel Con& on Bnd orshl The TrYbOtyk8 Joint Publ1On fThp Pand'} lJaHnlvèAlure owned In eqtsai by th9 8ribèh Trolvba Soclgty la reuiJtsr•deharlty) and NfA11963J Liffjiled Th& Panel runlIOTrB asAioln13ub-¢ommliteeoftheie Orwd981th)s. Tho Pondkn Affalrs #tB govtrnÈi by cans1tutn Ihe¢urr&nl veFsbn vf dated SèptsMbor2014. and Actlvib Th& Pand'8 CQn$lilulion 8mim8 Ihalits functyon Is to put4l¥h 4nd se114ny Matal relting ts tr011gybJ69$ whTr moy of to th& membèrnol the t0 60th0Ue5, or io the publir at181gF. and th$rsby qemfato lrtom¢ to fvtherlhe obl¢¢tsvg5 of tsvo chaDtse6. ond The 2024 onnual ol TiollfybLhkn ÈTr to be ex&min¢d by audiior. Thg examin4tn WIM inG1e • iwiew ol Ihe 8¢¢0unUng r¢¢ords k&Dtby tha Panvl and o ¢omp4fi¥on olthe aUOVnt$ prfynted against tho r¢rs. It will also iluClutsnv olany itemi or disdo$ureJ in thoBe4¢cvwls. ¥eoks expk8twkons Irw the Poirl membBr e•nwning Suth iiemg. Tho Pl0ule und&rtalen do not prOVe all ihe eviden¢8 IhalwouKI bB requlr¢d ai 4L41itand. conseouenlfy, he dtsÈs nDI expro¥5 opinion on vlew by IhB a¢COt8. Y•arEnd•d 31 Dg¢•mb•r2014 31 D•urnb•r2023 Ac an Sai•s olbook$ ond Publulions co$1 of 8819S 10.570 2,e60 add 31k adNsknontto 0¢tIed nelval48 5.7 55 5.739 Drhead5 Interet Nfrt Ptgftt 1,802 f,225 4,144 ee st¢¢ br3 Banke1 3.983 3,995 2.4B2 7.415 47 Iscred#Or% ASSETS 15.091 349 RoproI0lltvdby 6al4n¢è a11BlJanu•ty N¢¢profft for Mèyesr 7.)49 4.144 12,024 335 12.359 3.2 BrItiShTro¢Ybul Sa¢ielY NTAIIM3ILlmlt•d Èt31st Dgumb InlbAI N6tAu B.292 7,34a 7.39$ PITA{198SIUmlt•dR•¥•m St41•rnont 50%of 8aL¥Ko al Isl Jonu¥y DI¥wthJbOnsreCVed FUj% 8¢¥an¢wtqpd 5har¥olPIDffttransTglto S(4 Undistrfbufgd R•sor¥ FLvd lTrv¢$thoni Net Invaslrn•Tht 3M71 6,012 1.600 2.U72 2.500 3.871 25 25 Ilot• 16 Il•lat¥d rty Tr4tMacllon• Pow1
INOEPENDENT tXAMfNeR's REPORT ON ThE FINANCUL STATEMENTS To th• M•mb•rs of NTA (1963) Ltd I report ott the acttsunts of the Cornpany for the ye•r ended 30 5eptsmber 2024. RPttl¥ r•nlI¢19s of tMr•¢tors Exjmlner The charftys dlrnctor5 are responslble for the preparauon orthe a¢(y)vnts. The that1ty's dhctors ¢onslder that an audlt Is not requtreo fo¥ thls year under settion 144 of the Chak1¥es Act 2011 (the CharltyES Act) ond that an Indendeftt exèftynatksn needÈd. It Is my re5ponlblllty to.. examlne the attounts under sedon 145 of the Charitles Att. to follow the procedures laid down In the gweral dlrethon5 glven by the char c0mmtson under se£don L4515llbl of the Chadtles Att,. and to state Y4hether aTry partkular matters hav¢ CO to my attmdon. Bas15 01 In+Yoppnd6nt •xamln•r'¥ st&temnt My examlnation was carrfel out In accordante wth the general dlrect4on5 glven by the COMMIon. An ex4mlnatyon lThdudes a VIeW of the actnn9 ordS kept by the charlty and a comparfson of the ccounts pented wlth those records. It al>) Indude5 con$lderattM anY unusual Items or d1)SUrE5 In the aOunts, and seeklng explanatlons from the dlfft¢torts concemlng any such matters. The procedures undÈrtaken do nDt provlde èm the evtdence that v4ould be requlr¢d In an aud1¢ and ¢on5equenOy no oplnkn 15 glven as to whether the ar(x)unts present a'true and fair vlew, the report 1$ Iltnlted to those m4tters out In the statement below. In•nd•nt ex•mfnor'5 Stat•mont In conntttion wlth tny examlnatittn, no material mjiters have ctsme to my attentlon- whlch glves m¢ cause to belleve that In any mèterlal respett.. lccountiw re(x)rds woro nal kept In aCrdanCe wlth $ectKin 130 of Ihe Charithrys Ad or tho accounts not $ccord wlth the accounling reco8 or th8 a¢eounls dld not comply wtth th8 appllcabl8 toquSremen¢s ¢onc•mlng the lorm •¢)d eonlent of •¢¢ounts $el out In th• Charil¥ (Accounts ar RgPOrt81 Reoulalons 20D8 other than any raquirement that th? ae£wnts gfv a'lrue and vkwthl¢h not a m8tt8rconsidered as parti)f an Indendnt I have corne a£ross no other mattS In CL¥lTr8ttJon Y4th the examinatll to whlth attentlon should be Jrawn In order to enable to a proper vnderstandln9 of the •ccounts to be reached. Ic Simons Addr•M 8 Be1 Pl•¢ W•yN Garden Cty HBrtfwdshlr8 AL7 4TU 21 ttrt2tr2, Psoe 19
Company Regi$lralion Numbor Charity Rggistralion Numbèr 937035 288846 NTA (1963) LIMITED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30 SEPTEMBER 2024 Unrestricted fund¥ R•$trlcted fund8 Total fund8 3010912023 Incomè INote 31 Income and èndowmbnts fvom Giants fecewtd Oon4tion5 and legackng Chartat49 a[Witl 4.fJ08 26.407 780 718 5,088 9.096 26.407 780 9.583 31,684 780 645 OlhErèaliVthS Invqsimen Total Exp•nditur• (Not• 41 Expenditurn on Cbortt&ble 4ctivtss 5.088 23,064 830 1,823 433 .95 1.831 24.895 830 1,623 433 7,781 48.953 65 544 738 FUndWIng GovÈmAnc• Olhor Total Net incomellexpenditurèl b•for• Investment galnslllossesl Unreaslised Valuatlon of H&rltsgg A$3ets (Note 101 Net galn {Lossl in Trolleybooks (Note 151 5.963 3,257 9,220 7,608 2,072 2,072 N•t in¢om•llèxp•ndlturel Transfèrs befv4•èn funds Nèt movemént In funds 5,963 56 5,907 5.329 11,292 7,440 5.385 11.292 7,440 Reconclllatlon of fvnds (Note t4) Total lunds brought fonvard Total lunds carried fon¥arrl 399.906 181.223 86,608 581.129 592,421 588,569 581.129 Page 8
Company Re.gislrabon Number Charity ftegislrabDn Number 937035 2868 NTA (1963) LIMITED BALANCE SHEET AT 30 SEPTEMBER 2024 Unrestri¢tèd Rgstrict•d funds funLI$ Total thls yoar 3D-Sep-23 Noi• Flxed assets Tanqlble assets Intanglble assets Herltage assets 42.806 142,806 144.350 47.100 47,100 47,100 191,450 fotsi fixedassets Current assets Invtsbment Stocks DebtOTS Cash at bank 7.368 7,368 7,151 11,376 388.829 414,n4 3.696 7,049 10,649 38fj.597 407,991 7.151 8,244 355.527 370,922 3,132 33,302 3,602 Totol ¢urrontas5Ets Credltors: amounts lalling due within one year 11,498 11,498 1T.615 Nel current •ss&ts 290.376 rot213ssets less CUFrenl liabilitie& .581,B26 Creditors: amounts falling duc after one year 711 711 697 Total nel assets 405,813 18e,'6DS 592,421 581,129. Funds of the Charity Restrlctsd Incomtr lunds Unrestricted funds 186,608 186.608 405,813 181,223 399,906 581,129 405,813 Tot81 funds rhe company was enutltrd lo exemption from audlt under5477 of the C%npanies Act 2006 relatlng to small comparjles. 7he memjers ITaVQ not required Ihe company to obtaln an 8u¢lltin accoffjèftce wlth Section 476 of the Cornpanies Act 2006. The dlre¢tots acknowledge thdrresponsibllities for Gomplying wlth the requiroments ofihe Companles Act with respectfo accounting records and the ppatIOn of aCCDunts. These occounts have been prep•red In a¢¢ordan¢e wlth theprovlslons appllcable to smaN cornpanles subject to Ihe small companie5 reyime and In accordHnce wlth FRS102 SORP. Dale of sppioval ddlmml SvJnBd by one directm behalf ofall th8 dire¢Ws Slgn and PrlDI Name tloL125 M . L&knJLE44cE Print nAme SignalurE of diredor auihcniicabng acLoun15 beiro sènito ConyaDEs House Sign and Print N8me Date ddlffl prtiit namo P3yB 9
NOTES TO THE ACCOUNTS Note 1 Basls of preparatlon 1.1 Basis of accounting These accounts have been prepared under the hislorlcal cost convention wrfh Items ie¢ognlsed al cost or IransaGtion value unless Otherwi staled in the relevant notes lo these aoUnts. The accounts have been prepared in accordan with.... al the Statement of Recommended Practlce Accounting and Reporting by Charities preparlng Iheir accounts in 8¢cordaneè with the Financlal Reportino Standard applicable in the UK and Republic of Ireland IFRS 1021 applicable in the UK and Republic of Ireland {FRS 102) i88ued on 16 July 2014 t¢)gelher wh Update 8ulletin 1 bl the Financial Reportino Standard opplicable in the Unlted Kinodom and Republic of Ireland IFRS 102 ssued March 20181. cl the Companies Act 2005. d} the Charities Act 2011. Tho charity constitutes a public benefit entlty as defined by FRS 102. 1.2 Golng Concgrn The Directors consider the Charity to be a golng concem. In reachlng this decision, the folbwing factors were relevant-. al The Charity is solvent bl There are no wtentlal bad deb15 that would impact liquldlty cl There are no significant creditors or contingent Ilabllilies that would affect liquldily dl There are no oulslanding overdrafts or loans 1.3 Change of accountlng pollcy In accordance with the Charity SORP, the aceounty now incorporate a 50Qkn investment in a joint venture with another UK Charity. Further infom)ation- see Note 15. 1.4 Changes to accountlng estlmales A fair value for the Herllage Assets was introduced in 2019- see Note 10. 1.5 Material prior year errors No material prior year errors have been identified in the reporting year. Page 10
NOTES TO THE ACCOUNTS (Continued) Note 2 Accountlng policies 2.1 INCOME Recognition of income These are included In the Statement of Flnancial Activities ISoFA} ¥then the Charity becomes enlilled lo the resources. Offsetting Thera has b•8n no offsetting of assets and liabilities. or Iome and expenses. Grants and donatlons Grants 8nd d4)nalions are onty included in the Sofa when the general income recognition criteria ale mel. Ltsgacies are induded in the SOFA when receipt 58 probable, that is, then therè has been gr8nt of probate, the executors have estsblished that there are sufficient as8el3 in the estate and any conditlons 81tached to the legacy are either within the Control of the ¢harfty or have been met. Loga¢l Governmènt grants No govemment grant r&c&iv&d In 2023-24. Gift Aid receNable Ss Includ&d In income vthen there is a valid de¢laralSon from the donor. Any Gift Aid amount r8covered on a donation18 considered lo be part of Ihal gift and is treated as an addition lo the Same fund as the inltial donation unless the donor or th& lem$ of the appeal have specified otherwl$e. Whero a Gift A¥J donation is subsequently found not lo be valid. the donation is added back. Tax reclalms on donatlons and gifts Contraetual Income and Thls Is only Included in the SOFA once the ch8rity ha8 proed the related goods or performance related sewices or met th& performance ielaled conditions. grnnts Donat?d goods Donale(I good8 are measured al fair value Ith8 amount for which the asset could be exchanged) unless impractlcal lo do so. Donated servlces and facllit5es Donated services and fa¢llitlg5 al? included in the SOFA when received at the value of the gift tts th9 ch8rity provided the value of the gift can be mga¥ured reliably. Donated services and facilities that are consumed immediat&ly are r&cognised as In¢ome wth an equivalent amount recognised as an expense under the appropriate heading in the SOFA. The value of any voluntary hèlp received is not induded in the accounts bul is describèd in th8 Trustees, annual report. Volunteer h•lp Incom• from deposlt8 and This is Sncluded in the accounts when receipt is probablè and th8 amount receivable InSIm*nI$ can be measured reliably. Mernbershlp subs¢rfplS¢)n$ whlch give 8 member the rfght to buy se+c@S or other Incom• from mernbeTBhlp bonefils are recognised as income earn¢d from th¢ provislon ol good8 and services as sub$¢ription¥ income from charftsble a¢tivili&s. SubscriplK)ns received covgring the period after the yèar end are Irealed as payments in advanco and $hovm in the accounls as credilors. Pagg11
NOTES TO THE ACCOUNTS {Continued) 2.2 EXPENDITURE AND LIABILITIES Llbllity rocognltlon LbIlItieS Bre rgco9nised il is more Ilkalylhan nDI there Is # legal OrGonslrLjyÈ thligaN comrnittng thg charily to pay t reswrce8 8rKJ the Bmounl of th81 atsig8lK)n Gan be measured wilh reason3bl8 certainty Those costs rel3lrvJ to fts 031 responsilItIeS and Ihe Carr0 out ofihBirdube5 by tae other offic8. Gavgrnanco Creditorn The thanty hag tt8ditor8 which affj MtrasU al setU•rn8rrt atnDun151o5¥ anytr•Ye dCoUnts. Charity Is not tsgisiered tor VAT. The Charity cL4ims the small lrtdiw tax a¥ernpln in (¥d¢rlo be exémpl fram paying CLwraiion Tax 11$ nctrcharitaNe ac¥iti8S. Tax 2.3 ASSETS Tanglbl• fixed These are c8Pit81ised if they G&n bfr used for mrKe ih&n on8 year, aryj w9¢81 leasl £1,00Q. for Thèy are 81 ¢08t by chailty Thè amortisalion leS and rneththls used are disdosed in note 6. Intanglbl• ¥ed 8886ts The charity has intanolblo fixad 858ets. Ihai16, ntrbrronetaryas861$ Ihatdo not have phyylral sstaD butrare KIentffiae controllJ by th8 ch8ritythrou9h cu$tth or10gal rights. The amortSsallon rates and methods used are disckd In not8 9. Tte ¢nariiy ha¥ henlage 8SSeis, Ihal is, non-monetaty asseis wilh hist¢, arbsliG. 5cieniifi¢, hnO)al. geophy8ical ryenwironm8nial qualit5 that ar8 and rnpinlained pnncipally for theIrntTrtsuon lo kno¥ledge cullure. The fthr valua In tha aGcounts i# deSbed in note 10. Assets Stock Slock5 for salè as pgrt of mTr¢h8ritablfi Irade are rneatsurwj al the kw•r of coster nel reallsablfr val. Gwds prDvided a5 part of a charitae actyvlty 818 measured at nel realls8ble valua ts85ed on ihe seMc• wtenliBI provided by items of. Stoth$ ol now books acquired for sale are ordered in qUanlIesdOed likely lo b• gc4d Ints market swed by NTA son bwks sell betierth others bul Iher&ar& very few exampl•$ of books that h3V9 sold very SV. The 8kncks of Trolleybu8 M4azine are accumulated b¥au80 olthe need to print enough lordiÈtribul lo members while 311(phiry 8CthÉ surplu8 for $aleand publicity ppUs95 and for any damag in tho post. Dobiofs D8biofs lincluding Irade debtors and loans receiwablel are measur&J on Inib"al recagnibon al s8lllernl gmouni after8ny discounts oramouni adn¢0 by Ihe c8ri1y Subseqtly. Ihey are measur8d ktlh8 ¢ash or olher con$hleraiion expeded to bts rectyved. Note 3 Income Roslrfct•d Incom• luTrd• Anatysls of In¢omo UAr•g1rt¢ts 14nd* T¥tsi fvn¢Jo Pilory••r Grants Donatlon¥ Donations 8nd glfts Inc)me Tax reclaimed on Gltt Aid. 2,352 1,656 4.6 4,098 992 5,088 6,448 2,648 9.096 7.870 1.713 9.583 Tgtal 'd$S fflombgrship l••g Charil4blo activiUes'. Member5, Subscriptions Sales of Mer¢handi5e Meeting CollÈ¢tlon¥ 11,906 13.922 579 17,908 13.922 579 28.407 13.536 17.760 388 31.894 Totsl Oth¢r tradlng •ctivilies'. Use of photograph ¢olle¢tion5 Fee for private Irol Sandioft.. 5410 eralin US Use ol Elbu avmeni 780 780 780 Total 7eo 780 78U Income from Inve8tm?nt5: Inlere$l in¢ome~ 718 718 718 TIB Totsl ' Includè5 GAlnt8r881 TOTAL INCOME 31,913 5,088 37,001 42,692 Pag8 12
NOTES TO THE ACCOUNTS Icontinugdl Note4 EXPENDITURE of exp•ndlturg Unro¥trtbd fithdi Aqgtilci•d In¢•m•fund T¢lidfund Lut Expvndltvre on charftabltr SID ofTrouuseS 8n¢ Eq&iLrnI . 5CQ 900 1.520 Movernent and Re¥tOr8b of Trolle BuikJin bu$e# 931 13.972 runnin 4.431 4.431 4.C61 Coyl of mer¢handi&e SDkl (noi& 11 Ma 6.692 5.092 7.400 16 768 7.400 7,644 4,038 57 893 Ma Postage and Slalione M8gain8 Other CDSIS M$O1ing Room Hire To41 oxpendlturo M ¢harltablp •¢tlvltk• 47B3 758 23.064 1831 24.895 FuthdraiBing Advqrtlsing & Websilg To¢41 oxp•nditur• o FundralBSnts CoBts 830 830 830 830 65 Gov•Manc• Offi¢er¥' Travel and Moobngs Inotg 71 Accountancy snd AL¥JIl Annual Swer#l Meeliry 1.318 250 1,318 250 55 55 Total ex •ndiiure on Govfrrn4nt• 1,022 1.823 544 otr Bank and P Pal eh4r Total otb•r expendlliwe 433 433 738 TOTAL EXPENDITURE 25.950 27 781 60,30D hpr Informatlon.. Analy41• of In¢omo and eXnditur0 on acllvlb•s A¢tlvStygr DroaTrmm• kn¢orn• Extr•ndttur• N•t 2022Q3 St¢)IB Flagazlne 15.492 1,797 505 3.518 12,183 758 2.887 1,6 5.784 25.P53 57 Unrt Ic runnln eOllleXC d TrolYbo0k1 Profll Disknbubon SaloolTrolbybus book5 and me(ehAn4i Èè loW 2.8e7 ACttr s 13.922 26.564 992 ELLOUGH STORAGE UNIT RUNNING COSTS.. 2023 to 30th Sèptomb•r 2024 2022 10 )Oth S•ptmber 2023 Rent4n¢ Rotes Sgt¥i¢• ono Chqrgg Ekcln¢it¥ Supply Landbr¢f$ InAurnThC AmoNs4 618 46 1.544 4.061 4431 NDWJtorknl hal been r1¥ Bince th• a¢qLred. Ba$¢don a prev¢¢¢JPfs hll covld bs approxim•tely£170 p•ranfiurn. Rateiareeov•r•d by&mal BusinBg¥ Ratos Rélel Notg S Foos for gxaminatlon of thè accounts: Thli yr 8Bt year Ind8wnd8ni exarniret$ fee3 Assuraiice S£Nicts olherlhan Ind8Dendenl ex4miDalion T8X adviw fees Oihprfegs (for examp". financlal 8dwTr. ty)nsuManw. aLrotarcY9rrycets1 pald lo tho Ind8p8rtdenl eMIn0r.TroNeYb0QkSAdI1•ff¥ leo INTA pays half of fag rf ch¥rg8dl 250 250 Pap 13
NOTES TO THE ACCOUNTS (Continued) Noto 6 Remuneration and Expenses Number of employees during this year or the ksl year Remungration paid lo DirectOf8 Benellt8 provided lo Dirg¢lot8 Th13 year Last yèar Note 7 Directors. and other Officers Expenses Typ• of expen80$ re ursed Th18 vear ast ear Travfrl Subsistence Posta è and Statlon Stora eofs ares Other 897 544 46 680 TOTAL Th• number of Directors and oth&r Offlcers who wero pold •xpen8e8 Not9 8 Tangible flxed assets 8.1 Co$t Tangible Flxed assets Total Fixe asset$ At the beginning of the vear Addrtions At end ofthe vgar 152.842 1S2,842 152842 152842 8.2 Amortisation Straight Line over 99 years commencing 1st Ba4is At the beginnSng of the V8ar lrnpaimenl Chara& lor the vear Al end of th8 yea 8,492 8,492 8.3 Not book valu• Net book value al the beainnlno of the vear Nel book value at thg end ol the vear 144,350 144,350 142,806 142.806 8.4 Impalment There was no provision for impairment 8130 Sept&mber 2024 There will be a professional review every 3-5 years to determin¢ this provision. Not8 9 Intangible assets The Charity has the following InlaThJibb a58ets.., Website Goodwill for Trolleybu$ Maoaane Gotrjwill for 50% interest in Trolleybook$ Membership List Customer List forsale of Merchandise No value has been placed on thase assets. The tt¥01181$ are subje¢l t? the Data Protection Acl. Page 14
NOTES TO THE ACCOUNTS (Continued) Note 10 Heritage assets The si9nifiEJnce of th6 Heritage A$sg18 is set out in the Dlrectors. Report. The followin are considered to ba Hgrila e Assets Purcha8e ma•t Value 301091202d Insurèd Value 3010912024 Replacem8nt C06t111 Accounts Value 3010912024 erfta e ASSÈ Dato of Pu qul$ltlon Restor•tl¢)n Co$ts Troll bus B¢urnemouth 202 Hudder5fiekl 541 Wolverhampton 654131 Bottasl 168 121 Hastings 45 131 Maypine TB & eguipmenl July 1965 £101 donated don8t8d donated donated donation £14,300 £53,655 £6,000 £5.000 £1,000 £6.000 £2,000 £3,000 £io.000 £15.000 not applkab not applkable not 0opIic8ble not applicab £250.0 £200,000 £200.000 £200.000 £150.000 £50,OCbJ £10,000 £15.WO £1.llOO £6,000 £2,000 £3,000 £93,331 2022 E1.000 Photofjraphlc Collèction R. F. Mack collectlon Har0 Bre8Ne¥ eollection Lepine- Smith coll8Ctbn £700 £so donatlon £5.IXO £5.000 2022 £100 £1CQ Tlm¢tsblo Coll8ctlon Tlm8labl8s published by B Tld$h Transport ODeraiors Spar¢ Parts and E ul TOTAL HERITAGE VALUE Note 2.. being ie51ored, neartng Cornpletn. Noto 3.. 8w8itinA re$toration L8te 19805 £so.coo £78 000 £s,000 £47,10LI £1$2 3881 Valuatlon. Trolley Vehl¢l•$ The Charfy'5 neet of fiv& Trolléy Vahicles lorrn the gre818st part of its H8rKage Assels. Each of these vehlcle8. In tts own way, is nu¢ and irreeable by other authentic V8hlcle5. m2king valuauon a hlghly sublodlve m8tter. The Board con$lYers th81 three principal opVons e$t for Ihe valuallon of th888 a$$els, nam8ty...,.. The Market Value likely lo be achved if Ihe vehKlo wero to b? tra(rred to anothgr Ilko chartable body I"M8rket Value,). It shoukl b8 nol&J that the opportunlty for such tr8nsf8r$ wllhln the ch8rrtabk 5eGtor i5 gr8aUy restrfetod. Thg insured valuo ofthe vehicle wher8 It18 mjintsined in worting order lor use 8t an operating mus¢um I'ln5ured Valug'?- ' The estim818d tetal retsuild cosl of the vehEle following major damage or almost total destructn. It Should bo remamb8ed that the h8rllag• value ef a vehlcl8 almost totally re¢onstnJcted, and thus 8ffectw•ty a repllca. Is much less than that ol an authentic original fRebuild Cosr). For the purposes of Ihls summary, th8 Boart ¢on51ders tt prudent te adopt the great amounts under Market V8luo and In%ur8d Valu•, gwifig a tolal of £47,100. However, Ihi$ cgnnot be eon5tNad as FairV4lue under th¢ SORP ru. Valuatlcn.Spare Part8 and Equipment The Charity has amassed a quantity of authonbc sparg parts a1 equipment appropriato for us8 in Ihe $toratIOn and continu•d operation of its fteel, Some of th88• components are almost 100 years okl. many pri)duGed by manufa¢turers thai have lo sinc dlsappeared, and dupli¢ates are rbow mgst unlSkely to be found. EventU81 us8 of these ¢omponenls in r8Storation progiarnrnas w(11 subsl8nlialty rU¢8 the tglal 5¢S ef those programmes. It is estimatsd that the total value of all such 8P8r8 parts and equlpm?nt Is of Ihe order of £50.000. A key issue is fore$119 whlch of thgs¢ wlll be us8d to resto or repair NTA vehi¢k$ and which might be $old for use by other preservation proje¢l$. Therefore. this cannot be con8lrued as Fair Value underthe SORP rule. A8 there 1$ no inventgry 10 8UPPOrt the figure of £50,Otx), th1$ Hotge As80¢ has beon valued t8mporaHty al £5,OLKI. Hl8¢orlc41 documents, plan8, artefacts èt¢ and Archlv• ¢ollectlon8 The CharSly mainiains an archive of such materlal relevant tc trolWbus opemiion beth In Brlt81n and abroad. Some photagraphs and th8 timetable colle¢iion purchased and thelr mark•t value is known. Som6 such itom$ provide valuabl8 80urc8$ of information for future re$earch and th¢ artefacls wouhl a¢h*ve signifi¢anl pri¢e$ rf offered foi sale on the open mathal. It 15 •Xtr8mety diffi to Pla a valug on such ltsms bul the Board ¢on$hl•rs that 8 fi9ure of £5,000 in total M)ukl b• • i•a$onab ¢on$eN#ii¥e estimgte as the falr value under the SORP rub. Page 15
NOTES TO THE ACCOUNTS Icontlnued) Note 10 Heritage assets (Gontlnued) Herltsge A88et Loans Trolley Vehlclg$ 1. Boum•moLrth Trolleybus 202 Bv an aJre8m8nt dated 10th May 2008, Boumemoulh trolleybus No 202 is on ban lo the East AnAIiB Transport Museum Soctv Ltd for a pariod commencino 1st Januarv 2008. renewabl8 in 2025, The Said Societv 18 8nty.tled to all income arisina frcffj exhibition and oDerali¢n ol this vehicb a¢ Iheir Transoort Museum premises at Cadton Colvi118.Th8 vehide is accommodated and 58rvlced rent free. 2. Huddersfield Trolleybul 641 B¥ an aoraem8nt dated 27th April 2008. Huddersfield 641 1$ on loan to Sandloll Tran5POrt Centre Ltd lor rent aorged for pFiiods determined I £2.700 Daid in November 2022 ler 3 y88rs in advance from January 2023 lo Decemb¢r2025. This rent Dald in full for the 3 veor tern. A fee L5 payable to Iho NTA when 541 is op8r819d. Note 11 Stocks Othor trading aclivitl•8'. Th18 yèar Last year Opanlng StoG at8tart Df year Addod In yoar 7.049 7,694 5,794 16.122 12,843 23,81S ¢o•tof 94198 5,692 16.767 Closlng ¥tock at ond of year 7,151 7,049 Closlng Stock con8i&ts of Book5 Videtss TotalB 7.133 7.031 18 7,049 7.151 Publication5. vldeos and models for re-8810 8ro valued al c08t exceptlorsorne Troll8ybooks stock aTrJ Llfido models ¥alue¢J èi nil. The stock and baGk numbers of"Trolleybus Magazlne. are nol hcluded In the a¢¢ouni$ due lo the uncerfain nature of Ihelr realIsab value. Note 12 Analysls of debto Th1$ voar Last vèar Trade debtors ppaym8nts and accrued ineome Gift Ajd incom6 tsx rebats Due from Joint Venture 1.101 3,811 6,309 5,780 Total All trade debtm are due syithln one year. 11,376 10.649 Note 13 Anatysls of creditors Amounts falling du• wlthln ono yoar Amounts f¥lling duo aft•r more than ono ygar Thls Year Last vear This year Last vear Trade creditors Ac¢ruals and deferr8d incomo Subscriptions paid in advance other creditors 4.211 9,346 5,382 5.140 3,129 711 697 Total Pag8 16
ESTO OUNT nued Note 14 Charlty funds 14.1 Detall¥of materf81 lund$held and movernents durfn the CURRENT ro rtln earto 30 Se t¢mber2024 Ror PurybtsB•aTrd R4•trkllon• brought Expondlitsry Tr&nifDrx torwarrj MT bu 654 Re¥toralonand si¥ll8 RtrAkn)rAln SIDre Re$i¢ation am &Or Rè5tvaiionano Sloroll H&51in 8erfè5t frollybus 168 HdderSh¢id TtDlle bus 541 4.33B 750 B31 4.094 2.334 Troll J(4Trt Veniur¢to rmiie bllratlons 3.696 2.072 7n88 Pur¢nÈ9¢olSI trFlltles 144.¥0 1.544 142 8CIS Ttstal R•Strtsd Funds UNesth¢ieo unres& 181.223 47.100 352,806 181.129 Urbreall$Èd Rw&lvallOA FIoBwve Free R¢$gni To¢al lknnd$ 48 pBr+>•i•ncè ¥h¢g1 186.eofj 47.IOD 358,713 fj92.421 31.913 3•,073 2S.950 0 14.3 no EndoUnnI Funo Lytsnwye 14.2 Dat411• olJDatert&l lunds held movomenls dtsr4ngtho PREWOU5 r•portln p•riod 2022-23 Fun4 n•m# b41an¢ brou9h¢ Itor p1•nd Rll8trlcdon ¢4rri• foNard ExpbNJtturn Yran8feis wdwhpmp10nTrI¢ybu1 654 Rejtoraiiun stryaw 16,690 18.5e8 J.eT5 oKast TTOII bu$ 168 625 •70 Y50 541 R8si0rAIn and SIOT ReSiallon alld Slora T11 Wk& UblilI08. Joint v114 sir baoks .250 TOL41 Rostrfcifjd Fund 145.894 188 BD4 UnrEslrfctsd Lknf4Blised RÈV111On Rt5er¥• FtE? R¢stre rothl p•fb4S•nc• Jhoèt 352 574 se8,W 3.247 60 fj0.29• 81.129 14.3 Do51 nalfrd ftsn(Is curroDt rg rti ellr lo 301h S Unre51ricied kBseD4es ttEsI 1ombg¥ Z024 lQ311ons from Donall0Tr5 F* Re5elVWS Amount£ 352.525 3$8 713 Paw 17
NOTES TO THE ACCOUNTS {Contlnued) Note 15.. Jolnt Venture - Trolleybooks Joint Publl¢aUon Panel Con& on Bnd orshl The TrYbOtyk8 Joint Publ1On fThp Pand'} lJaHnlvèAlure owned In eqtsai by th9 8ribèh Trolvba Soclgty la reuiJtsr•deharlty) and NfA11963J Liffjiled Th& Panel runlIOTrB asAioln13ub-¢ommliteeoftheie Orwd981th)s. Tho Pondkn Affalrs #tB govtrnÈi by cans1tutn Ihe¢urr&nl veFsbn vf dated SèptsMbor2014. and Actlvib Th& Pand'8 CQn$lilulion 8mim8 Ihalits functyon Is to put4l¥h 4nd se114ny Matal relting ts tr011gybJ69$ whTr moy of to th& membèrnol the t0 60th0Ue5, or io the publir at181gF. and th$rsby qemfato lrtom¢ to fvtherlhe obl¢¢tsvg5 of tsvo chaDtse6. ond The 2024 onnual ol TiollfybLhkn ÈTr to be ex&min¢d by audiior. Thg examin4tn WIM inG1e • iwiew ol Ihe 8¢¢0unUng r¢¢ords k&Dtby tha Panvl and o ¢omp4fi¥on olthe aUOVnt$ prfynted against tho r¢rs. It will also iluClutsnv olany itemi or disdo$ureJ in thoBe4¢cvwls. ¥eoks expk8twkons Irw the Poirl membBr e•nwning Suth iiemg. Tho Pl0ule und&rtalen do not prOVe all ihe eviden¢8 IhalwouKI bB requlr¢d ai 4L41itand. conseouenlfy, he dtsÈs nDI expro¥5 opinion on vlew by IhB a¢COt8. Y•arEnd•d 31 Dg¢•mb•r2014 31 D•urnb•r2023 Ac an Sai•s olbook$ ond Publulions co$1 of 8819S 10.570 2,e60 add 31k adNsknontto 0¢tIed nelval48 5.7 55 5.739 Drhead5 Interet Nfrt Ptgftt 1,802 f,225 4,144 ee st¢¢ br3 Banke1 3.983 3,995 2.4B2 7.415 47 Iscred#Or% ASSETS 15.091 349 RoproI0lltvdby 6al4n¢è a11BlJanu•ty N¢¢profft for Mèyesr 7.)49 4.144 12,024 335 12.359 3.2 BrItiShTro¢Ybul Sa¢ielY NTAIIM3ILlmlt•d Èt31st Dgumb InlbAI N6tAu B.292 7,34a 7.39$ PITA{198SIUmlt•dR•¥•m St41•rnont 50%of 8aL¥Ko al Isl Jonu¥y DI¥wthJbOnsreCVed FUj% 8¢¥an¢wtqpd 5har¥olPIDffttransTglto S(4 Undistrfbufgd R•sor¥ FLvd lTrv¢$thoni Net Invaslrn•Tht 3M71 6,012 1.600 2.U72 2.500 3.871 25 25 Ilot• 16 Il•lat¥d rty Tr4tMacllon• Pow1
INOEPENDENT tXAMfNeR's REPORT ON ThE FINANCUL STATEMENTS To th• M•mb•rs of NTA (1963) Ltd I report ott the acttsunts of the Cornpany for the ye•r ended 30 5eptsmber 2024. RPttl¥ r•nlI¢19s of tMr•¢tors Exjmlner The charftys dlrnctor5 are responslble for the preparauon orthe a¢(y)vnts. The that1ty's dhctors ¢onslder that an audlt Is not requtreo fo¥ thls year under settion 144 of the Chak1¥es Act 2011 (the CharltyES Act) ond that an Indendeftt exèftynatksn needÈd. It Is my re5ponlblllty to.. examlne the attounts under sedon 145 of the Charitles Att. to follow the procedures laid down In the gweral dlrethon5 glven by the char c0mmtson under se£don L4515llbl of the Chadtles Att,. and to state Y4hether aTry partkular matters hav¢ CO to my attmdon. Bas15 01 In+Yoppnd6nt •xamln•r'¥ st&temnt My examlnation was carrfel out In accordante wth the general dlrect4on5 glven by the COMMIon. An ex4mlnatyon lThdudes a VIeW of the actnn9 ordS kept by the charlty and a comparfson of the ccounts pented wlth those records. It al>) Indude5 con$lderattM anY unusual Items or d1)SUrE5 In the aOunts, and seeklng explanatlons from the dlfft¢torts concemlng any such matters. The procedures undÈrtaken do nDt provlde èm the evtdence that v4ould be requlr¢d In an aud1¢ and ¢on5equenOy no oplnkn 15 glven as to whether the ar(x)unts present a'true and fair vlew, the report 1$ Iltnlted to those m4tters out In the statement below. In•nd•nt ex•mfnor'5 Stat•mont In conntttion wlth tny examlnatittn, no material mjiters have ctsme to my attentlon- whlch glves m¢ cause to belleve that In any mèterlal respett.. lccountiw re(x)rds woro nal kept In aCrdanCe wlth $ectKin 130 of Ihe Charithrys Ad or tho accounts not $ccord wlth the accounling reco8 or th8 a¢eounls dld not comply wtth th8 appllcabl8 toquSremen¢s ¢onc•mlng the lorm •¢)d eonlent of •¢¢ounts $el out In th• Charil¥ (Accounts ar RgPOrt81 Reoulalons 20D8 other than any raquirement that th? ae£wnts gfv a'lrue and vkwthl¢h not a m8tt8rconsidered as parti)f an Indendnt I have corne a£ross no other mattS In CL¥lTr8ttJon Y4th the examinatll to whlth attentlon should be Jrawn In order to enable to a proper vnderstandln9 of the •ccounts to be reached. Ic Simons Addr•M 8 Be1 Pl•¢ W•yN Garden Cty HBrtfwdshlr8 AL7 4TU 21 ttrt2tr2, Psoe 19