REGISTERED COMPANY NUMBER: 02475754 (England and Wales)
REGI￿ERED CHAIUTY NUMBER: 328539
Re rt of the Trustees and
Unaudited Financial Statements for the Year Ended 31st December 2024
BRITISH COMMERCL4L VEHICLE MUSEUM TRusr
BK Plus- Chorley
Chartered Certified Accountants
41 St Thomas's Road
Chorley
Lancashire
PR7 IIE

BRITISH COMMERCIAL VEHICLE MUSEUM TRU
Contents of the Financial Statements
for the Year Ended 31st De￿mber 2024
Page
Report ofthe Th￿teeS
I to 4
Independent Examiner's Report
Statement of FinanaalActivities
Balan￿ Sheet
Notes to the Financlal Statements
9 to 15

BRITISH COMMERCIAL VEHICLE MUSEUM TRusr
REGISTERED NUMBEIL. 02475754
Re rt of the Trustees
for the Year Ended 3tst December 2024
The trustees who are also dirertors of the charity for the purposes of the Companies Act 2006, present their report
with the financial statements of the charity for the year ended 31st De￿rnber 2024. The trustees have adopted the
provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of
Ireland (FRS 102) (effective l January 2019).
OBIEcfivESAND AcfiviTIES
Principal artivities and objectives
The principal attivities of the company are the provision of a vehicle museum for the public, the restoration of
vehicles of historic interest and the maintenance ofarchives of the commercial vehicle industry.
The trusvs central objective is to preSe￿e for future generntions. vehicles of special significance in the development
of the British commercial vehide industry. The museum trnstees. chosen to provide a range of expertise reflecting
both the operation and manufacture of trucks and buses, determine collertion policy. They seek to maintain a
representative dlsplay of vehicles spanning the whole heritage of the British commercial vehicle industry.
The trustees, second n￿1n objertive is to ensure the widestPQs5ible access and visibility for the Collectio
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing docurnenL a deed of trusL and constitutes a limited company, limited by
guarantee, as defmed by the Companies Act 2006.
Corporate status
The British Commercial Vehicle Museum Trust is a registered charity. which was incorporated under the Companies
Art 1985 as a company limikd by guarantee on l March 1990. The company does not have a share capital and the
liability in respert of guarantee is limited to £1 per trustee. For the purpose of the Companies Act 2006, the trustees
act as dirertors of the company. The cornpany was established under a Memorandurn of Association, which
established the objects and powers of the charitsble company and is governed under its Articles of Associatio
Trustees responsibilities
Company law requires the trustees to prepare financial statements for each financial year which give a trne and fair
view of the state of affairs of the company and of the surplus or deficit of the company for that period. In preparing
those financial ststements. the trustees are required to:
- select suitable accounting policies and then apply them consistently
- make judgements and estimates that are reasonable and Prudent
prepare the finanaal statements on the going contrrn b3sis unless It is inappropriate to presume that the company
will continue in business
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any
time the financial position of the company and to enable them to ensure that the finanoal statements comply with
Companies Art 1985. They are also responsible for safeguarding the assets of the company and hence for tsking
reasonable steps forthe prevention and detection of fraud and other irregularitie&
REFERENCEAND ADMINWRATIVE D￿Alls
Regtstered Company number
02475754 (England and Wales)
Registered Charlty number
328539
Page I

BIUTISH COMMERCIAL VEHICLE MUSEUM TRUST
REGISTERED NUMBEIL. 02475754
Re
)ort of the T￿￿teeS
for the Year Ended 31st De￿mber 2024
Registered office
King Street
ikyland
lancashire
PR25 2LE
I P Gilchri5t (resigned 18.9.24)
W G Robinson (resigned 14.3.24)
D H Bennett
D Mitchell (resigned 3.10.24)
C Roberton
l.A McKevitt
T l Haley
Ms C L Melia
D B Forrest
K l Ellison Dirertor (resigned 3.10.24]
l G Southworth Director
P lukes Chairman
Ms A L Mayo (appointed 18.9.24]
B Ramaswamy (appointed 18.9.24)
Qpmpany Secretary
T J Flaley
Independent Examiner
Andrew Carl Caunce
BK Plus- Chorley
Chartered Certified Accountsnts
41 St Thomas's Road
Chorley
Lancashire
PR71IE
Page 2

BRITISH COMMERCIAL VEHICLE MUSEUM TRU
REGISTERED NUMBER: 02475754
Re
._rt ofthe Trustees
for the Year Ended 31st December 2024
T￿￿eeS
The Trustees in office at 31st December 2024 are listed below:
I P Gilchrist- Chairman (resigned 18.09.24)
W G Robinson (resigned 14.03.24)
D H Bennett
D Mitchell (resigned 03.10.24)
C Roberton
J.A McKevitt
T l Haley
Ms C L Melia
D B Forrest
K l Ellison (resigned 03.10.24)
l G Southworth
P lukes
A L Mayo (appointed 18.09.24)
B Ramaswamy (appointed 18.09.24)
Registration and Appolntment of Trustees
The Articles of Association of The British Comrneraal Vehicle Museum Trust require one third of the Trustees to
retire by rotatioll at each Annual General Meeting. Subjert to the provisions of the Articles, the Trustees to retire by
rotation shall be those who have been longest in oifice since their last appointment or re-appointmenL but as
between persons who becarne or were last re-appointed Trustees on the same day, those to retire shall be detern)ined
bylot.
The Trustees retiring are: .
-TIHaley
- D B Forrest
- C Robertson
These Trustees may. ifwilling to acL be re-appointed.
The Articles of Association require Trustees to retire at their first Annual Gener21 Meeting.
Review of activities
The trustees report a deficit for the year ended 31 December 2024 of £49,506. This compares to a surplus in the year
ended 31 December 2023 of £114,415. last year's surplus was achieved due to a very large one-off donation from
The Engert Watford Motor Museum.
Donations, legaaes and grants this year amounted to £38,804 as compared to £191.555 for the previous year.
Income generated by the museums trading activities amounted to £158,239 (2023 £159,586).
Overheads increased by 4.17% to £246,607 [2023 £236.726]. However. this includes the cost of rep1a￿rnent
windows of which £22.892 was covered by a grant of £18,000
The net assets of the museum on 31 December 2024 were £2,150,999.
Museum Activities
Page 3

BIUTISH COMMERCIAL VEHICLE MUSEUM TRUST
GISTERED NUMBEL. 02475754
Re
rt ofthe Trustees
for the Year Ended 3tst December 2024
Nonnal trading income for 2024 decreased to £158.239 (2023 - £159.586). Full details are enclosed in note 2 to these
accounts.
Volunteers and staff
The museum currently operate5 with five employees. The Trustees value their contributions and enthu5ia5rn and
appreciate that they also work many extra hours on a voluntary basis.
The financial success of the Trust would not be possible without the huge support and efforts of its voluntee￿.
Approximately fifty people volunteer their time, skills and expertise to help the museum, archives, cinema and special
events to function. The rnuseum is very grateful to all the volunteers who keep the museurn repaired and open, and to
those who entertain and inforni the visitor& Without this dedication the museum could not filnction.
The Futyre
The challenge in 2025 is to increase the museums income from regular trading acttvities. Several steps have already
been taken to address this issue as part of a five-year plan to move the museum from not just breaking even but
achievinga healthysurplus.
The trustees are now one year into a thorough review and adoption of the eight essential elements of a successful
board as contained in The Charity Governance Codei produced by NCVO. The eight elements include:
- Organisational purpose
- IEadeT5hip
- Integrity
- Decision-making
- Risk and control
- Board effectivene&s
Equality, diversity and inclusion
- Openness and accountability
Reserves Pollcy
The Trustees look forward to achieving surpluses in the fu￿re in order to build up the reserves of the museurn.
Approved by
rder of the board oftrustees on 4th September 2025 and signed on its behalf by:
P lukes- Tryst
Page 4

Independent Examlner's Re rt to the Th￿eeS of
British Commercial Vehide Museum Trust
Independent e3aminer's reportto the trnstees of British Commerdal Vehlcle Museum Trust (the Con)panyJ
report to the charity trustees on my examination of the accounts of the Company for the year ended
31st December 2024.
RespK•Dslbllltles and basts of rew)rt
s the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible
for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 Cthe 2006 Act,).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act
and are eligible for independent examination, I report in respect of my examination of your charity's accounts as
carried out under Section 145 of the Charities Art 2011 ('the 2011 Act,). In carrying out my examination I have
followed the Directions given by the Charity Commission under Section 145(5) 0)) of the 2011 ACL
Independent examiner's statement
I have completed my examination. I confirni that no matters have come to my attention in connertion with the
examination givingrne cause to believe:
accounting records were not kept in respect of the Company as required by Sertion 386 of the 2006 ACL or
the accounts do not accord with those records; or
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Art 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
the accounts have not been prepared in accordance with the methods 2nd principles of the Ststement of
Recommended Practice for accounting and reporting by charities (applicable to charities preparing their
accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of IrelaDd
(FRS 102)).
I have no COn￿rnS and 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 reache(L
Andrew Carl Caunce
BK Plus- Chorley
Chartered Certified Accountants
41 St Thomas's Road
Chorley
iAncashire
PR7 IJE
0810912025
Page S

BRITISH COMMERCL4LVEHICLE MUSEUM TRUST
Statementof Financial Activities
for the Year Ended 3tst December 2024
31.12.24
Total
funds
31.12.23
Total
funds
Unrestricted
fund
Restricted
fund
Notes
INCOME AND ENDOWMEKfs FROM
Donations, le￿cleS and grants
38,804
38,804
191,555
Other trading activities
Investment income
158,Z39
58
158,239
58
159,586
Total
197,101
197,101
351,141
EXPENDrruRE ON
Raising funds
17,2SI
17,251
15.585
Charitable activities
Employment costs
General administrative expense5
73,331
156,025
73.331
156,025
73.518
147.623
Total
246,607
246,607
236,726
INCOME/{EXPENDrruREJ
(49,506)
(49,506)
114,415
RECONCILIATION OF FUNDS
Total funds brought forward
2,200.505
349.000
2,549,505
2.435,090
TOTAL FUNDS CARRIED FORWARD
2,150,999
349,000
2,499,999
2,549,505
The notes forni part of these financial statements
Page 6

BRITISH COMMERCIAL VEHICLE MUSEUM TRUST
REGisfERED NUMBEIL. 024757S4
Balance Sheet
31st Dece]nber 2024
31.12.24
Total
funds
31.12.23
Totsl
funds
Unrestrirted
fund
Restricted
fund
Notes
FIXED ASSETS
Tangible assets
Heritage assets
1,945,633
1,945,633
349,000
1.966,795
349,000
349,000
1,945,633
349.000
2,294,633
2,315.795
CURRENT ASSETS
Stocks
Debtors
Cash at bank and in hand
io
li
3,000
3J22
212.072
3,000
3,322
Z12,072
3,000
5.848
242.632
218,394
218,394
251.480
CREDITORS
Amounts falling due within one year
12
(13,028)
{13,028)
(17.770)
CURRE￿ A$s￿s
205,366
20S,366
233,710
TOTAL ASs￿s LESS CURRENT LIABILrriES
2,150,999
349,000
2,499,999
2.549,505
NEf ASSETS
2,150,999
349,000
2,499,999
2,549,505
FUNDS
Unrestricted funds
Restricted tunds
13
2.150,999
349,000
2,200,505
349,000
TOTAL FUNDS
2,499,999
2,549,505
The charitsble company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year
ended 31st December 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended
31st December 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a)
ensuring that the charitable cornpany keeps accounting record5 that comply with Sections 386 and 387 of the
Companies Art 2006 and
preparing financial statements which give a true and fair view of the state of affairs of the charitable company
as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the
requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies
Act 2006 relating to financial statements. so far as applicable to the charitable company.
tb)
The notes ftirni part of these financial statements
Page 7
continued.-

BIUTISH COMMERCIAL VEHICLE MUSEUM TRU
GISTERED NUMBEIL. 02475754
Balan￿ Sheet- continued
31st December 2024
These financial statements have been prepared in accordance with the provisions applicable to charitsble companies
siibject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 4th September 2025
andwere s
ned
n its behalf by:
P lukes- Trus
The note5 forrn part of these financial statements
Page 8

BRITISH COMMERCIALVEHICLE MUSEUM TRUST
Notes to the Flnanclal Statements
for the Year Ended 31st December 2024
ACCOUNTING POLICIES
Basis of preparingthe financial statements
The financial statements of the charitsble company, which is a public benefit entity under FRS 102, have been
prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement
of Recommended Prartice applicable to charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effertive I january 2019),.
Financial Reporting Stsndard 102 'The Financial Reporting Standard applicable in the UK and Republic of
Ireland, and the Companies Act 2006. The financial ststements have been prepared under the historical cost
convention.
Income
All income is recognised in the Ststement of Financial Activities once the charity has entidement to the funds.
it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expendI￿re as soon as there is a legal or constructive obligation committing the
charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlemeiit
and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis
and has been classified under headings that aggregate all cost related to the category. Where costs cannot be
dirertly attributed to particular headings they have been allocated to artivities on a basis consistent with tlie
use ofresources.
Heritage assets
Due to changes in FRS 30, the charity is now required to capitalise any donated heritsge assets. A valuation
was carried out in 2007 (by professional valuers Thirnbleby & Shorland) and an estimated value of £349,000
was placed on these donated assets. There have been no additions/disposals to the collection since this date.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful
life.
Improvements to property
Fixtures and fittings
Computer equipment
50kn on cost
IO% on cost
200h on cost
In a departure from FRS 102 Section IA for small entities. no depreciation is provided in respect of freehold
properties. This is a departure from the requirements ofthe Companies Art 2006 which requires properties
to be depreciated. The t￿￿teeS consider that to depreciate them would not give a true and fair view.
Depreciation is only one of the many elements reflerted in the annual valuation of properties and accordingly
the amount of depreciation which might otherwise have been charged cannot be separately identified or
quantified. The tn￿tee5 considerthat this policy results in the financial ststements giving a true and fair view.
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and
slow moving itsms.
Taxation
The charity is exernpt from corporation tax on its charitable activitie&
Fund accounting
Unrestricted funds can be used in accordance with the charitsble objectives at the discretion of the trustees
Page 9
continued...

BRITISH COMMERCL4L VEHICLE MUSEUM TRU
Notes to the Financial Statements- continued
for the Year Ended 31st December 2024
AccouKfiNG POIICIFS- continued
Fund accounting
Restricted funds can only be used for particular restrirted purposes within the objects of the charity.
Restrictions arise when specified hy the donor or when ￿ndS are raised for particular rertticted purpose5.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the $12tement of Financial Activities on a straight line basis
over the period oFthe lease.
Pension costs and otherpost-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the
charitsble company's pension scheme are tharged to the S13tement of Financial Activities in the period to
which they relate.
Bulldlngs
The museum operates from premises provided by English Partnership& There is no rent paid for the building
subjert to the condition that the buildings are used to ￿rther the trusts activities, and cannot be realised
unless the museum re sites in another 'new town, area. Consequently the buildings are not recorded in the
balance sheeL
OTHER TRADING A￿1vrriEs
31.12.24
31.12.23
Entrance fees
Shop income
Archive income
Other good5
Cafe rent
100,133
19,102
2,193
24,047
12,764
105.746
20,205
705
22.671
10,259
158,239
159,586
INvE￿ME￿ INCOME
31.12.24
31.12.23
Bank interest received
58
NET lNCOME/(EXPENDITURE)
Net incorne/(expenditure] is stated after charging/(crediting):
31.12.24
31.12.23
Depreciation- owned assets
Hire of plant and rnathinery
23,674
3270
24.988
3,770
Page 10
continued...

BRITISH COMMERCtALVEHICLE MUSEUM TRU
Notes to the Financial Statements - continued
for the Year Ended 31st December 2024
TRUSTEES. REMUNERATION AND BENEFITS
There were no trustees, remuneration or other benefits for the year ended 31st December 2024 nor for the
year ended 31st December 2023.
Trnstees. expenses
During the year, no expenses were paid to trustees (2023 - Nil).
STAFF COSIS
There was an average of 5 full time employees throughout the year.
COMPARATIVES FOR THE sfATEMEKf OF FINANCIAL AcfiviTIES
Unrestricted
fund
Restricted
fund
Totsl
funds
INCOME AND ENDOWMENTS FROM
Donations. legacies and grants
191.555
191,555
Other trading activities
159,586
159,586
Total
351,141
351,141
EXPENDITURE ON
Raising funds
15,585
15,585
Charitable activities
Employment costs
General administrative expenses
73,518
147,623
73,518
147,623
Total
236,726
236,726
INCOME
114,415
114,415
RECONCILIATION OF FUNDS
Total funds brought forward
2,086,090
349,000
2,435.090
TOTAL FUNDS C4RRIED FORWARD
2,200,505
349,000
2,549,505
Page 11
continued...

BRITISH COMMERCIALVEHICLE MUSEUM TRUST
Notes to the Financial Statements- continued
for the Year Ended 31st De￿mber 2024
TANGIBLE FIXED ASSETS
Impmvernents
to
Fixtures
and
fittings
Freehold
property
Computer
equipment
property
Totals
co
At Istlanuary 2024
AdditiOT]S
1.721,000
314.115
41,421
1.050
41.066
1,462
2.117.602
2,512
At 31st December 2024
1,721.000
314,115
42,471
42,528
2,120,114
DEPRECIATION
At Istlanuary 2024
Charge foryear
91,720
15.707
35,464
1,488
23.623
6,479
150,807
23,674
At 31st December 2024
107,427
36,952
30,102
174,481
NET BOOK VALUE
At 31st December 2024
1,721,000
206,688
5,519
12,426
1,945,633
At 31st December 2023
1.721,000
222,395
5,957
17,443
1,966.795
In 2019 the Trust made an application to the HM land Registry to be recognised as the legal owners of the
building. The application was approved and granted by the HM Land Registy and the property had been
brought into the accounts at the value registered atthe HM Land Registry of the arnount £1,721,000.
HERITAGE ASS￿5
Total
MARKET VALUE
At 1st lanuary 2024 and
31st December 2024
349,000
NEf BOOKVALUE
At 31st December 2024
349,000
At 31st December 2023
349.000
The vehicles and archives in the museurn have either been donated or are on loan to the British Comrneraal
Vehicle Museum. They are considered to be heritage assets. The vehicles are held to provide a commercial
vehicle museum for the benefit of future generations. They ￿nge from the horse drawn era through to steam
wagons and early petrol vehicles, up to the present day. There are 62 vehicles on display. No vehicles can be
disposed of without the approval of the donor and a special resolution of the Trust The archives contain in
excess of 256.000 items ofphotographic material and artifacts.
Page 12
continued..

BRITISH COMMERCIAL VEHICLE MUSEUM TRUST
Notes to the Financial Statements- continued
for the Year Ended 31st December 2024
10. STOCKS
31.12.24
31.12.23
Stock
3,000
3,000
ii.
DE￿O[L$. AMOUNTS FALLING DUE WITHIN ONEYL4R
31.12.24
31.12.23
Th7de debtors
Other debtors
VAT
Prepayments and accrued income
3,085
152
97
2.514
2.438
3,322
5,848
12.
CREDrroRS: AMouKfs FALLING DUE WITHIN ONE YL4R
31.12.24
31.12.23
Trade creditors
VAT
Other credito
Accruals and deferred income
3,553
2,000
500
6.975
12,841
300
4,629
13,028
17,770
13.
MOVEMEKt IN FUNDS
Net
rnovement
in funds
At 1.1.24
31.12.24
Unrestrlrted funds
General fund
2,200,505
(49.506)
2,150,999
Restrirted funds
Restrirted
349,000
349,000
TOTAL FUNDS
2.549,50S
(49,506)
Z,499,999
Net movement in funds, induded in the above 3re as follows:
Incoming
resources
Resources
expended
Movement
in funds
Unrestricted funds
Gener21 fund
197,101
(246,607)
(49,506)
TOTAL FUNDS
197,101
(246,607)
(49,506)
Page 13
continued...

BIUTISH COMMERCIAL VEHICLE MUSEUM TRUST
Notes to the Financial Statements- continued
for the Year Ended 31st December 2024
13.
MOVEMEKf IN FUNDS- continued
Comparatives for moveD]ent in ￿ndS
Net
movement
in funds
At
31.12.23
Atl.1.23
Unrestricted funds
General fund
2,086,090
114,415
2,200,505
Restricted funds
Restricted
349,000
349,000
TOTAL FUNDS
2.435,090
114,415
2.549,505
Comparative net rnovement in funds, included in the above are a5 follows:
Incoming
resources
Resources
expended
Movement
in funds
Unrestricted funds
General fund
351,141
(236,726)
114,415
TOTAL FUNDS
351.141
(236,726)
114,415
A currentyear 12 months and prTror year 12 months combined position is as follows:
Net
movement
in funds
At
31,12.24
At 1.1.23
Unre5tiicted funds
General fund
2.086,090
64,909
2,150.999
Restrlcted funds
Restricted
349,000
349,000
TOTAL FUND5
2.435,090
64,909
2,499,999
Page 14
continued.-

BIUTISH COMMERCIAL VEHICLE MUSEUM TRUST
Notes to the Financial Ststements- contlnued
for the Year Ended 31st December Z024
13.
MOVEMENT IN FUNDS- contlnued
A current year 12 months and prior year 12 Months combined net movement in ￿nds, included in the above
are as follows-
Incoming
resources
Resources
expended
Movement
in funds
Unrestrirted funds
General fund
548,242
[483,333)
64,909
TOTAL FUNDS
548,242
(483,333)
64,909
14. RELATED PARTY DISCLOSURES
There were no related partytransactions forthe year ended 31st December 2024. (2023- Nil)
Is.
ULTIMATE CONTROLLING PARTY
The company is controlled by the trustees.
Page 15