Thompson B1 Locomotive Trust – custodians of ex-LNER locomotive no. 1264
Council of Management Report for AGM 2024:-
Thompson B1 Locomotive Trust (TBLT) - registered charity number 326367
This year has been another year of gradually moving forwards, much of the work being behind the scenes.
The loco is still substantially in one piece but the four working parties, led by Jonny Johnson and Philomenah Holladay, have been well attended, with the majority of participants being ‘new’ to the Trust; this is very encouraging. The working parties have largely been used to organise our containers ready for the time when we start removing a serious number of components from the locomotive, but a start has been made on removing some tender and boiler backhead fittings, and breaking up the concrete in the smokebox. In 2025 we hope to increase the frequency of working parties to once a month, allowing us to start making some serious inroads into the stripdown, such as removal of boiler cladding, boiler tubes and cab roof, in preparation for lifting the boiler out of the frames.
Meanwhile, at the time of writing, the new tender tank design is almost ready for a ‘final design review’ prior to actively engaging with our chosen fabricator, Hill and Webster. Thanks as ever to Tony Stockman and Alistair Leach for their thorough and detailed work on this.
Slogging away in the background have been Steve Andrews and Steve Robb who between them have travelled many hundreds of miles to and fro between the East Midlands and Grosmont, gradually retrieving our comprehensive stock of spares and bringing them down to Ruddington. The effort and time involved in this cannot be overstated, and we owe them an enormous debt of gratitude. It’ll all be worth it in the end.
Our cash reserves are growing steadily, the total amount in all three bank accounts at the time of writing (including the Limited Company) currently sits at £164,347, which is £29,347 more than was reported this time last year.
Income from regular monthly subscriptions and share purchase is currently running at £20,126 p.a. and this is comfortably covering our predictable and fixed costs which consist of insurance (£9977 p.a.), fees for storing the loco undercover at Ruddington (£5200 p.a.), leaving a modest surplus to cover the slightly more unpredictable postage, travel and subsistence costs.
www.thompsonb1.org
Registered office: Green Cottage, Tysoe Road, Lower Tysoe, Warwickshire, CV35 0BY
Page 1 of 2
The biggest single spend that appears under ‘Repairs and Maintenance’ in the accounts for year ending 30[th] June 2024 was the purchase of the tyres (£42,048 of the £46,408 actually paid for the tyres was paid in the 2023-24 accounting period, the rest was paid in the previous 2022-23 accounting period).
Membership of the Trust now stands at a respectable 188, which is a slight reduction from last year (202). Of those 188, 141 (75%) of those are now ‘online only’ members. The full effect of the 6-12-64 membership scheme, which has been running since December 2021, can now really be seen in the annual accounts, with income under ‘Subscriptions’ having increased by 166% when comparing 2022-23 to the 2023-24 financial year, so thank you to everyone who has now ‘converted’ their membership to the new scheme.
On the income side we have also benefited from some generous legacies (£11,000) and we will soon be making a substantial Gift Aid claim worth around £3500, backdated for the last 4 years; this will appear in next year’s accounts. The support coach has also brought in a modest sum (£2496) through being on hire to the Chasewater Railway.
If we are to move forwards with the overhaul in a big way, it has long been recognised that membership subscriptions, donations, Gift Aid claims and even generous legacies will not be enough, even though they all help. To that end, we made our first grant application on Sunday 15[th] September 2024, applying to the Garfield Weston Trust for £99,999 towards our anticipated £750,000 cost of the overhaul. This 10-page application took about a week’s worth of evenings to prepare, and we should hear within four months whether we have been successful. We will be applying for further grants in 2025, ‘casting the net’ far and wide for both big and small amounts.
Thanks to the efforts of Wendy Ibbotson, her husband Lee and a handful of regular helpers including David Lewis and Alf Bousie, we have attended three events with the promotion stand this year, the first being the GCR 125[th] Anniversary in March when the loco was on display in the yard at Ruddington, and many people took advantage of footplate access where Trust volunteers were happy to talk about the loco and our plans for it. The second event was the GCR ‘Open Extravaganza’ in May, and the third event will be the GCR Autumn Steam Gala on Saturday 5[th] October. Putting up the promotion stand at these events helps to maintain the profile of the Trust, attract new members, and build the impression that we are gradually becoming ‘part of the furniture’ at the GCR again.
To that end, discussions have begun with the senior management of the GCR about the long-term prospects for the loco, in particular how the GCR and the Trust can work together to accelerate the loco’s return to traffic, through a mixture of volunteer labour at both ends of the line (Ruddington and Loughborough) as well as some contract Engineering work for the GCR where appropriate and cost-effective.
Finally, it once again remains for me to thank all members for their continued support; financially, practically and spiritually. Without you, we are nothing!
Next year the AGM will be held on Saturday 18[th] October 2025, and we’ll be back at Ruddington.
Dave Horton - Secretary, Thompson B1 Locomotive Trust, 18[th] September 2024
Page 2 of 2
Registered number 01722150
Thompson B1 Locomotive Trust
Report and Accounts
30 June 2024
Thompson B1 Locomotive Trust Registered number: 01722150 Trustees and Directors' Report
The directors, who are also trustees, present their report and accounts for the year ended 30 June 2024
Objectives and activities
The company's principal activity during the year continued to be a registered charity. The main activities of the charity were to maintain and operate the locomotive and demonstrate its performance to the public and trust members.
The charity trustees have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers and duties.
Achievements and performance
The locomotive was not hired out and was still awaiting repairs during the year so it covered no miles. The support coach was hired out on a short-term hire.
Financial review
It is the policy of the charity to maintain unrestricted funds which are free reserves of the charity, at a level to cover anticipated administration costs for a period of 12 months. It also ensures that there are adequate reserves to ensure repayment of any loans for a period of 12 months.
The accumulated reserves are shown at the foot of the balance sheet on page 6 of the accounts.
Structure, Governance and Management
The company is a charitable company limited by guarantee, incorporated on 10 May 1983. The company was established under a Memorandum of Association which establishes the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £2.
The Thompson B1 Locomotive Trust is governed and managed by a Council of Management whose members are appointed by vote at the annual general meeting of the Trust. The Council of Management must consist of at least two and not more than ten members. Members of the Council of Management shall serve no longer than three years without re-election and every year one third of the members shall retire from office. A retiring member of the Council shall be eligible for re-election.
Directors and trustees are not remunerated whilst carrying out these duties.
Reference and administrative details
The charity's name is Thompson B1 Locomotive Trust. Its charity registration number is 326367. The charity's principal and registered office is Green Cottage, Tysoe Road, Lower Tysoe Warwickshire CV35 0BY.
1
Thompson B1 Locomotive Trust Registered number: 01722150 Trustees and Directors' Report
Directors and trustees
The following persons served as directors during the year:
S Andrews A Camp M A Cobley resigned 21/10/2023 D A Wellington D Horton P Holladay appointed 21/10/2023 J Johnson appointed 21/10/2023
Political donations
None
Directors' responsibilities
The directors are responsible for preparing the report and accounts in accordance with applicable law and regulations.
Each person who was a director at the time this report was approved confirms that:
- so far as he is aware, there is no relevant audit information of which the company's examiner is unaware; and
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 10 September 2024 and signed on its behalf.
D Horton Director
2
Thompson B1 Locomotive Trust Accountants' Report
Accountants' report to the directors of Thompson B1 Locomotive Trust
You consider that the company is exempt from an audit for the year ended 30 June 2024. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
AR Accountancy Services Accountants
Devonshire House Manor Way Borehamwood Hertfordshire WD6 1QQ
10 September 2024
3
Independent examiner's report to the trustees of Thompson B1 Locomotive Trust for the year ended 30 June 2024
Respective responsibilities of trustee and examiner
The trustees (who are also directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144 (2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. Although the charity's gross income did not exceeded £250,000 I have been asked to carry out an independent examination and I am qualified to undertake the examination by being a qualified member of The Association of Accounting Technicians.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
examine the accounts under section 145 of the 2011 Act;
to follow the procedures laid down in the general directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
to state whether particular matters have come to my 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 trustees 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.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respect the requirements
to keep accounting records in accordance with section 386 of the Companies Act 2006; and
to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
A I Rickman FMAAT Devonshire House Manor Way Borehamwood Hertfordshire WD6 1QQ
10 September 2024
4
Thompson B1 Locomotive Trust Statement of financial activities for the year ended 30 June 2024
| Income and endowments: Cost of sales Gross profit Charitable activities Administrative expenses Operating loss net expenditure for the year Tax on loss on ordinary activities Loss for the financial year Reconciliation of funds Total funds brought forward Total funds carried forward |
2024 £ 31,940 - 31,940 (21,908) (45,804) (35,772) (35,772) - (35,772) 321,136 285,364 |
2023 £ 16,915 (240) 16,675 (21,904) (1,619) (6,848) (6,848) - (6,848) 327,984 321,136 |
|---|---|---|
5
Thompson B1 Locomotive Trust Registered number: 01722150 Balance Sheet as at 30 June 2024
| Notes Fixed assets Tangible assets 3 Investments 4 Current assets Debtors 5 Cash at bank and in hand Creditors: amounts falling due within one year 6 Net current assets Net assets Capital and reserves Profit and loss account Shareholders' funds |
2024 £ 260 155,583 155,843 8,680 122,415 131,095 (1,574) 129,521 285,364 285,364 285,364 |
2023 £ 260 155,583 155,843 8,831 158,352 167,183 (1,890) 165,293 321,136 321,136 321,136 |
|---|---|---|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D Horton Director Approved by the board on 10 September 2024
6
Thompson B1 Locomotive Trust Notes to the Accounts for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). The accounts have been prepared in accordance with the Statement of Recommended Practice Accounting and Reporting by Charities, issued in July 2014.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
| 2 Employees Average number of persons employed by the company |
2024 Number 1 |
2023 Number 1 |
|---|---|---|
7
Thompson B1 Locomotive Trust Notes to the Accounts for the year ended 30 June 2024
3 Tangible fixed assets
| Support Coach Cost At 1 July 2023 Additions At 30 June 2024 Depreciation At 1 July 2023 At 30 June 2024 Net book value At 30 June 2024 4 Investments Investment in Thompson B1 Locomotive Limited Cost At 1 July 2023 At 30 June 2024 5 Debtors Other debtors Amounts owed by group undertakings and undertakings in which the company has a participating interest |
Plant and machinery etc £ 29,495 260 29,755 29,495 29,495 260 Investments in subsidiary undertakings £ 155,583 155,583 2024 2023 £ £ 448 - 8,232 8,831 8,680 8,831 |
|---|---|
8
Thompson B1 Locomotive Trust Notes to the Accounts
for the year ended 30 June 2024
| 6 Creditors: amounts falling due within one year Amounts owed to group undertakings and undertakings in which the company has a participating interest |
2024 £ 100 1,674 |
2023 £ - 1,890 |
|---|---|---|
7 Controlling party
There is no controlling party
8 Other information
Thompson B1 Locomotive Trust is a charitable private company limited by guarantee and incorporated in England. In the event of the company being wound up members are required to contribute an amount not exceeding £2. Its registered office is:
Green Cottage
Tysoe Road Lower Tysoe Warwickshire CV35 0BY
9
Thompson B1 Locomotive Trust Detailed profit and loss account for the year ended 30 June 2024
This schedule does not form part of the statutory accounts
| Income and endowments Cost of sales Gross profit Charitable activities Administrative expenses Operating loss Loss before tax |
2024 £ 31,940 - 31,940 (21,908) (45,804) (35,772) (35,772) |
2023 £ 16,915 (240) 16,675 (21,904) (1,619) (6,848) (6,848) |
|---|---|---|
10
Thompson B1 Locomotive Trust Detailed statement of financial activities for the year ended 30 June 2024
| Income and endowments Locomotive hire Sales Thompson B1 Locomotive Limited Subscriptions 150 Club Donations Legacies Cost of sales Purchases Discounts allowed Commissions payable Other direct costs Charitable activities Engineering services Coal, oil and other consumable materials Transportation costs Insurance Printing, postage and stationery Storage Pensions Bonuses Travel and subsistence Premises costs: Bank charges Equipment hire Software Repairs and maintenance Sundry expenses Legal and professional costs: Accountancy fees Website |
2024 £ 2,080 12,280 2,855 3,725 11,000 31,940 - - - - - - - - 9,693 610 11,605 21,908 - - 539 539 70 - - 42,048 56 42,174 1,000 479 3,091 45,804 |
2023 £ - 3,500 - 4,611 2,491 6,313 - 16,915 240 - - - 240 670 - 7,240 8,893 1,201 3,900 21,904 - - - - 152 - - - 224 376 1,000 243 1,243 1,619 |
|---|---|---|
11
Registered number 01722150
Thompson B1 Locomotive Trust
Report and Accounts
30 June 2024
Thompson B1 Locomotive Trust Registered number: 01722150 Trustees and Directors' Report
The directors, who are also trustees, present their report and accounts for the year ended 30 June 2024
Objectives and activities
The company's principal activity during the year continued to be a registered charity. The main activities of the charity were to maintain and operate the locomotive and demonstrate its performance to the public and trust members.
The charity trustees have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers and duties.
Achievements and performance
The locomotive was not hired out and was still awaiting repairs during the year so it covered no miles. The support coach was hired out on a short-term hire.
Financial review
It is the policy of the charity to maintain unrestricted funds which are free reserves of the charity, at a level to cover anticipated administration costs for a period of 12 months. It also ensures that there are adequate reserves to ensure repayment of any loans for a period of 12 months.
The accumulated reserves are shown at the foot of the balance sheet on page 6 of the accounts.
Structure, Governance and Management
The company is a charitable company limited by guarantee, incorporated on 10 May 1983. The company was established under a Memorandum of Association which establishes the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £2.
The Thompson B1 Locomotive Trust is governed and managed by a Council of Management whose members are appointed by vote at the annual general meeting of the Trust. The Council of Management must consist of at least two and not more than ten members. Members of the Council of Management shall serve no longer than three years without re-election and every year one third of the members shall retire from office. A retiring member of the Council shall be eligible for re-election.
Directors and trustees are not remunerated whilst carrying out these duties.
Reference and administrative details
The charity's name is Thompson B1 Locomotive Trust. Its charity registration number is 326367. The charity's principal and registered office is Green Cottage, Tysoe Road, Lower Tysoe Warwickshire CV35 0BY.
1
Thompson B1 Locomotive Trust Registered number: 01722150 Trustees and Directors' Report
Directors and trustees
The following persons served as directors during the year:
S Andrews A Camp M A Cobley resigned 21/10/2023 D A Wellington D Horton P Holladay appointed 21/10/2023 J Johnson appointed 21/10/2023
Political donations
None
Directors' responsibilities
The directors are responsible for preparing the report and accounts in accordance with applicable law and regulations.
Each person who was a director at the time this report was approved confirms that:
- so far as he is aware, there is no relevant audit information of which the company's examiner is unaware; and
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 10 September 2024 and signed on its behalf.
D Horton Director
2
Thompson B1 Locomotive Trust Accountants' Report
Accountants' report to the directors of Thompson B1 Locomotive Trust
You consider that the company is exempt from an audit for the year ended 30 June 2024. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
AR Accountancy Services Accountants
Devonshire House Manor Way Borehamwood Hertfordshire WD6 1QQ
10 September 2024
3
Independent examiner's report to the trustees of Thompson B1 Locomotive Trust for the year ended 30 June 2024
Respective responsibilities of trustee and examiner
The trustees (who are also directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144 (2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. Although the charity's gross income did not exceeded £250,000 I have been asked to carry out an independent examination and I am qualified to undertake the examination by being a qualified member of The Association of Accounting Technicians.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
examine the accounts under section 145 of the 2011 Act;
to follow the procedures laid down in the general directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
to state whether particular matters have come to my 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 trustees 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.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respect the requirements
to keep accounting records in accordance with section 386 of the Companies Act 2006; and
to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
A I Rickman FMAAT Devonshire House Manor Way Borehamwood Hertfordshire WD6 1QQ
10 September 2024
4
Thompson B1 Locomotive Trust Statement of financial activities for the year ended 30 June 2024
| Income and endowments: Cost of sales Gross profit Charitable activities Administrative expenses Operating loss net expenditure for the year Tax on loss on ordinary activities Loss for the financial year Reconciliation of funds Total funds brought forward Total funds carried forward |
2024 £ 31,940 - 31,940 (21,908) (45,804) (35,772) (35,772) - (35,772) 321,136 285,364 |
2023 £ 16,915 (240) 16,675 (21,904) (1,619) (6,848) (6,848) - (6,848) 327,984 321,136 |
|---|---|---|
5
Thompson B1 Locomotive Trust Registered number: 01722150 Balance Sheet as at 30 June 2024
| Notes Fixed assets Tangible assets 3 Investments 4 Current assets Debtors 5 Cash at bank and in hand Creditors: amounts falling due within one year 6 Net current assets Net assets Capital and reserves Profit and loss account Shareholders' funds |
2024 £ 260 155,583 155,843 8,680 122,415 131,095 (1,574) 129,521 285,364 285,364 285,364 |
2023 £ 260 155,583 155,843 8,831 158,352 167,183 (1,890) 165,293 321,136 321,136 321,136 |
|---|---|---|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D Horton Director Approved by the board on 10 September 2024
6
Thompson B1 Locomotive Trust Notes to the Accounts for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). The accounts have been prepared in accordance with the Statement of Recommended Practice Accounting and Reporting by Charities, issued in July 2014.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
| 2 Employees Average number of persons employed by the company |
2024 Number 1 |
2023 Number 1 |
|---|---|---|
7
Thompson B1 Locomotive Trust Notes to the Accounts for the year ended 30 June 2024
3 Tangible fixed assets
| Support Coach Cost At 1 July 2023 Additions At 30 June 2024 Depreciation At 1 July 2023 At 30 June 2024 Net book value At 30 June 2024 4 Investments Investment in Thompson B1 Locomotive Limited Cost At 1 July 2023 At 30 June 2024 5 Debtors Other debtors Amounts owed by group undertakings and undertakings in which the company has a participating interest |
Plant and machinery etc £ 29,495 260 29,755 29,495 29,495 260 Investments in subsidiary undertakings £ 155,583 155,583 2024 2023 £ £ 448 - 8,232 8,831 8,680 8,831 |
|---|---|
8
Thompson B1 Locomotive Trust Notes to the Accounts
for the year ended 30 June 2024
| 6 Creditors: amounts falling due within one year Amounts owed to group undertakings and undertakings in which the company has a participating interest |
2024 £ 100 1,674 |
2023 £ - 1,890 |
|---|---|---|
7 Controlling party
There is no controlling party
8 Other information
Thompson B1 Locomotive Trust is a charitable private company limited by guarantee and incorporated in England. In the event of the company being wound up members are required to contribute an amount not exceeding £2. Its registered office is:
Green Cottage
Tysoe Road Lower Tysoe Warwickshire CV35 0BY
9
Thompson B1 Locomotive Trust Detailed profit and loss account for the year ended 30 June 2024
This schedule does not form part of the statutory accounts
| Income and endowments Cost of sales Gross profit Charitable activities Administrative expenses Operating loss Loss before tax |
2024 £ 31,940 - 31,940 (21,908) (45,804) (35,772) (35,772) |
2023 £ 16,915 (240) 16,675 (21,904) (1,619) (6,848) (6,848) |
|---|---|---|
10
Thompson B1 Locomotive Trust Detailed statement of financial activities for the year ended 30 June 2024
| Income and endowments Locomotive hire Sales Thompson B1 Locomotive Limited Subscriptions 150 Club Donations Legacies Cost of sales Purchases Discounts allowed Commissions payable Other direct costs Charitable activities Engineering services Coal, oil and other consumable materials Transportation costs Insurance Printing, postage and stationery Storage Pensions Bonuses Travel and subsistence Premises costs: Bank charges Equipment hire Software Repairs and maintenance Sundry expenses Legal and professional costs: Accountancy fees Website |
2024 £ 2,080 12,280 2,855 3,725 11,000 31,940 - - - - - - - - 9,693 610 11,605 21,908 - - 539 539 70 - - 42,048 56 42,174 1,000 479 3,091 45,804 |
2023 £ - 3,500 - 4,611 2,491 6,313 - 16,915 240 - - - 240 670 - 7,240 8,893 1,201 3,900 21,904 - - - - 152 - - - 224 376 1,000 243 1,243 1,619 |
|---|---|---|
11