1
THE BATTLE OF BRITAIN LOCOMOTIVE SOCIETY
(A COMPANY LIMITED BY GUARANTEE)
LEGAL AND ADMINISTRATIVE INFORMATION
Status
The company is limited by guarantee. The company is a registered charity under the Charities Act 1960. The trustees act as directors of the company for the purposes of the Companies Act 2006 and as a Management Committee.
Management Committee
I.T. Bowskill K.B. Harris A.D. Whenman J.W. Arthur K. Wilkins
Secretary
L. Dessent
Chairman
I.T. Bowskill
Registered Office
17, Whitecrofts Stotfold Hitchin Herts SG5 4EB
Operation address
17, Whitecrofts Stotfold Hitchin Herts SG5 4EB
Accountants
Baldwin & Co. 22, Bernard Crescent, Hunstanton Norfolk PE36 6ER
Bankers
HSBC Banco Santander
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THE BATTLE OF BRITAIN LOCOMOTIVE SOCIETY
(A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE MANAGEMENT COMMITTEE
The management committee present their annual report together with the financial statements for the year ended 30th November 2024. The financial statements are prepared in accordance with the provision of the SORP FRS102 together with update Bulletin 1 “Accounting and Reporting by Charities” issued in July 2014.
Activities
The company is a charity and exists to promote, preserve, maintain, operate and exhibit railway locomotives and rolling stock.
Results
Net incoming resources for the year amounted to £28,559 all of which related to unrestricted funds. General reserves stood at £302,252 at the end of the year.
Advice and information
The charity has completed the total restoration of steam locomotive no. 34081. The charity is operated by a management committee duly elected annually. Funds are raised entirely by the charity itself to further the objects.
Review
During the year some steaming fees were achieved but replacement of all superheater elements and the fire grate sections needed towards the end of the year put an end to these.
After much discussion and thought as a result of dwindling volunteer numbers and limited facilities at its current location the Trustees took the decision to move the locomotive to East Lancashire Railway (ELR). The Battle of Britain Locomotive Society will retain ownership but ELR will oversee the operational management of the locomotive. The Trustees are sure that this move gives the locomotive the best chance of survival and continued activity going into the future.
Volunteers
The committee are very grateful to those volunteers who give their assistance in the running of the charity as well as the day to day maintenance and repair of the locomotive.
Fund raising
The committee had another relatively quiet year with other fund raising principally through the 100 club and sales of merchandise. The Society were fortunate to be the beneficiaries of a substantial single donation of £50,000 and continued to benefit from sales of the model railway and library collection it was bequeathed in the previous year.
Investment policy
The committee has considered the most appropriate policy for investing funds and has decided that security of funds is paramount and so the existing bank deposit and current accounts are the most suitable for its purposes and meet the requirement for security of investment as well as providing an element of investment income as interest.
Risk review
The management committee has conducted its own review of the major risks to which the charity is exposed and systems have been established to mitigate these risks. Internal cost risks are minimised by the implementation of procedures for authorisation of all transactions and projects and to ensure consistent quality of delivery for all operational aspects of the charitable company. These procedures are periodically reviewed to ensure that they still meet the needs of the charity.
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THE BATTLE OF BRITAIN LOCOMOTIVE SOCIETY
(A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE MANAGEMENT COMMITTEE (Continued)
Responsibilities of the Management Committee
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing those financial statements, the trustees should follow best practice and :
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(i) Select suitable accounting policies and apply them consistently; and
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(ii) Make judgements and estimates that are reasonable and prudent: and
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(iii) Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the company will continue on that basis.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Members of the Management Committee
Members of the management committee, who are directors for the purposes of company law and trustees for the purposes of charity law, who have served during the year and up to the date of this report are set out on page 1.
Members of the charitable company guarantee to contribute an amount not exceeding £1 to the assets of the charitable company in the event of winding up. The total number of such guarantees at 30th November 2024 was 182 (2023 - 199).
Accountants
A resolution for the reappointment of Baldwin & Co. as accountants of the company is to be proposed at the forthcoming annual general meeting.
Small Company Rules
These accounts have been prepared in accordance with the Statement of Recommended Practice – Accounting and Reporting by Charities and in accordance with the special provisions relating to the small companies regime within Part 15 of the Companies Act 2006.
By order of the board
I.T. Bowskill
Trustee
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THE BATTLE OF BRITAIN LOCOMOTIVE SOCIETY
(A COMPANY LIMITED BY GUARANTEE)
NUMBER OF COMPANY - 2228567
YEAR ENDED 30TH NOVEMBER 2024
REPORT OF THE INDEPENDENT EXAMINER TO THE MEMBERS OF THE BATTLE OF BRITAIN LOCOMOTIVE SOCIETY
I report on the accounts of the company for the year ended 30th November 2024, which are set out on pages 6 to 10.
Respective responsibilities of management committee and examiner
As described on page 3 the members of the management committee, who are directors for the purpose of company law and trustees for the purpose of charity law, are responsible for the preparation of financial statements. The management committee consider that an audit is not required for this year under section 144 of the Charities Act 2011 (“the Charities Act”) and that an independent examination is needed.
It is my responsibility to:
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Examine the accounts (under section 145 of the Charities Act);
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To follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act); and
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To state whether particular matters have come to our attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as directors concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair” view and the report is limited to those matters set out in the statement below.
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THE BATTLE OF BRITAIN LOCOMOTIVE SOCIETY
(A COMPANY LIMITED BY GUARANTEE)
NUMBER OF COMPANY - 2228567
YEAR ENDED 30TH NOVEMBER 2024
REPORT OF THE INDEPENDENT EXAMINER TO THE MEMBERS OF THE BATTLE OF BRITAIN LOCOMOTIVE SOCIETY (continued)
Independent examiner’s statement
In connection with my examination, no material matters have come to my attention which give me cause to believe that, in any material respect:
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accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
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the accounts do not accord with such records; or
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the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the accounts give a “true and fair” view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the Charities SORP (FRS 102).
I have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
J.M. BALDWIN FCCA CTA BALDWIN & CO. 22, BERNARD CRESCENT CHARTERED CERTIFIED ACCOUNTANT HUNSTANTON NORFOLK PE36 6ER DATE: 31ST JANUARY 2025
DATE: 31ST JANUARY 2025
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THE BATTLE OF BRITAIN LOCOMOTIVE SOCIETY
(A COMPANY LIMITED BY GUARANTEE)
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)
YEAR ENDED 30TH NOVEMBER 2024
| Unrestricted Funds Notes Incoming resources Donations 1 66,695 Activities to generate funds 24,376 Investment income and interest 408 Total incoming resources 91,479 Resources expended Cost of generating funds Fund raising 973 Charitable expenditure Loco repairs and running 45,768 Management and administration Operating costs 6,120 Depreciation 10,059 Total resources expended 62,920 Net incoming resources -Net surplus for the year 2 28,559 Net movement in funds 28,559 Total funds 1st December 2023 273,693 Total funds 30th November 2024 302,252 |
Total Total Funds Funds 2024 2023 66,695 3,714 24,376 23,204 408 205 91,479 27,123 973 1,623 45,768 46,651 6,120 4,545 10,059 11,882 62,920 64,701 28,559 (37,578) 28,559 (37,578) 273,693 311,271 302,252 273,693 |
|---|---|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activities.
The notes on page 8 to 10 form a part of these financial statements
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THE BATTLE OF BRITAIN LOCOMOTIVE SOCIETY
(A COMPANY LIMITED BY GUARANTEE)
BALANCE SHEET
AS AT 30TH NOVEMBER 2024
| Notes FIXED ASSETS Tangible assets 4 CURRENT ASSETS Stocks Debtors 5 Cash at bank and in hand CURRENT LIABILITIES Amounts falling due within one year 6 NET CURRENT ASSETS NET ASSETS 7 UNRESTRICTED FUNDS General fund 8 |
540 12,637 235,583 248,760 2,695 |
2024 56,187 246,065 302,252 302,252 |
178 6,620 204,337 |
178 6,620 204,337 |
2023 66,246 207,447 273,693 273,693 |
|---|---|---|---|---|---|
211,135 |
|||||
3,688 |
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For the year ended 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors’ responsibilities
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
I.T. Bowskill
K. Wilkins
Directors
Approved by the board on 31st January 2025. The notes appearing on pages 8 to 10 form part of these financial statements.
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THE BATTLE OF BRITAIN LOCOMOTIVE SOCIETY
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS
1. ACCOUNTING POLICIES
The following accounting policies have been applied consistently in dealing with items that are considered to be material in relation to the company’s accounts:-
Basis of accounting
The accounts have been prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 and follow the recommendations in Accounting and Reporting by Charities: Statement of Recommended Practice (FRS 102) together with Update Bulletin 1.
The Battle of Britain Locomotive Society meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
Reconciliation with previous Generally Accepted Accounting Practice In preparing the accounts, the trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the restatement of comparative items was required.
Donations
Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when receivable. The values of services provided by volunteers has not been included. Donations received were all general donations.
Income
Incoming resources from fund raising activities and sales and from investments are included when receivable.
Expenditure
Resources expended are recognised in the period in which they are incurred.
Depreciation
Depreciation is provided at rates calculated to write off the cost of fixed assets, less their anticipated residual value, over their expected useful lives on the following basis:
Locomotive Storage and Office Equipment
15% reducing balance 25% reducing balance
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THE BATTLE OF BRITAIN LOCOMOTIVE SOCIETY
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS
Funds
Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks.
2. NET INCOMING RESOURCES FOR THE YEAR
This is stated after charging:
| This is stated after charging: | ||
|---|---|---|
| 2024 | 2023 | |
| Depreciation | 10,059 | 11,882 |
| ____ | ____ |
3. TAXATION
The charitable company is exempt from corporation tax on its charitable activities.
4. TANGIBLE FIXED ASSETS
| Locomotive Store Equipment Cost At 1st December 2023 376,835 5,283 Additions in year - - At 30th November 2024 376,835 5,283 Accumulated Depreciation At 1st December 2023 311,812 4,060 Charge in year 9,753 306 At 30th November 2024 321,565 4,366 Net Book Value At 30th November 2024 55,270 917 At 30th November 2023 65,023 1,223 |
Total 382,118 - 382,118 315,872 10,059 325,931 56,187 66,246 |
|---|---|
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THE BATTLE OF BRITAIN LOCOMOTIVE SOCIETY
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS
5. DEBTORS
| 2024 Trade debtors - Other debtors 11,411 Prepayments and accrued income 1,226 12,637 All debtors fall due within one year. 6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 Accruals and deferred income 2,695 |
2023 - 5,112 1,508 6,620 2023 3,688 |
|---|---|
7. ANALYSIS OF NET ASSETS BETWEEN FUNDS
All assets and liabilities relate to the General Funds. The charitable company has no Designated Funds nor Restricted Funds.
8. MOVEMENT OF FUNDS
| Unrestricted Funds At 1st December 2023 273,693 Incoming Resources 91,479 Outgoing Resources (62,920) At 30th November 2024 302,252 |
Total Funds 273,693 91,479 (62,920) 302,252 |
|---|---|