2024-12-31-accounts

RAVENGLASS RAILWAY MUSEUM TRUST TRUSTEES, ANNUAL REPORT 2024 GOVERNANCE The Ravenglass Railway Museum Trust is a charity {No. 5052951 established by a Trust Deed in 1976 and amended in 2016. Trustees are appointed by the Trustees. The Ravenglass & Eskdale Railway Company Ltd and the Ravenglass & Eskdale Railway Preservation Society each have the right to nominate two trustees. The Trusys principal address is: Maudlands, Maude Street, Kendal, LA9 4QD. TRUSTEES The Trustee5 were: Peter Hensman Georgina Townsend Dave Simpson Davld Rounce Matthew Ellis Trevor Stockton Peter van Zeller Bob Tebb Stuart Harrison Chair nominee of Ravenglass & Eskdale Railway Company Ltd. nominee of Ravenglass & Eskdale Railway Company Ltd. nominee of Ravenglass & Eskdale Railway Preservation Society nominee of Ravenglass & Eskdale Railway Preseriation Society All Trustees served for the full year. OBJECTIVES The purposes of the Trust, set out in the Trust Deed are: The foundation and maintenance of a Railway Museum at Ravenglass. The restoration of the Muncaster Mill, Ravenglass to its original forrn as a fully working water powered mill on a slte used for a mill for centuries and the continued preservation and display of the restored mill and equipment. The conservation and control of flora and fauna In Ravenglass and Eskdale and their neighbourhood. To promote the study of and research into the use of water as a Means of producing energy The advancement of education ACTIVITIES AND PUBUC BENEFIT The Museum protects and interprets a collection of artefacts relating to the history of the Ravenglass & Eskdale Railway and the Eskdale valley. By giving free public access to the Museum

exhibitions and stored collettions, the Trust makes a significant contribution to the furthering of knowledge and enjoyment of the area and its hlstory. It has made available on-line its archive and research sources which has helped the Trust to transcend physical access barriers and reach world- wide audiences. The Museum also has a programme of engaging with the local community through taking promotional stsnds at local shows. providing talks and private event5 for local residents and businesses and providing educational material and support for schools. However, the Museum has continued to run its on-line Archive Talks. The Community Exhibition Gallery hosts a programme of rotating displays curated by the museum team, local schools and community groups. The Trustees confirm that they have had regard to the Charity Commission's guidance on public benefit. They consider that, by carrying out the above activities, they comply with this guidance. STAFF AND VOLUNTEERS The Museum was managed by Stuart Ross with the help of Claire Winter-moore, the Collections Assistant. Peter van Zeller is the volunteer curator and Mary Ann Lancaster acts as Museum Mentor. Since the end of the year Stuart Ross has resigned and Claire Wlnter-moore has been appointed Museum Manager. The Trustees would like to thank Stuart Ross for his considerable contribution to the development of the Museum over the 5 years that he was the Manager The Museum is very dependent on the assistance given by volunteers. During 2024, 22 volunteers gave their tirne. Over 1600 hours were spent in the Museum on tasks including general maintenance, cataloguing of the archive, restoration projetts and visitor interartion. Volunteers also spent 37 days manning the old mainline signal box and demonstrating It to visitors. The Museum participated in the Helping Hands volunteering scheme and, since this came to an end has worked wlth Cumbrla CVS to advertise vacancies. As a result 3 new volunteers have been recruited. The Trustees are very grateful to staff and volunteers for thelr dedlcation and for all that they do to maintain and develop the Museum. ACHIEVEMENTS AND PERFORMANCE Collection The Museum continued to receive gifts of archive and other material throughout the year. During the year the projett for the restoration of Synolda was completed thanks to a generous donation from Fred Stillwell which enabled the new tender to be professionally painted. The trustees are now planning the restoration to working order of Quarryman in time for Its centenary in 2026. The Heywood Brake van donated by James Waterfield in 2023 was brought to Ravenglass and discussions about how to restore and display it are on-going. The Trustees are very grateful to all who have donated material to the Museum during the year. enin The Museum was open to visitors during the February half-term, from 16 March - 3 November, on some weekends in November and December and over the Christmas holiday. Visitor numbers, at

29,900, were similar to 2023. The Old Signal Box was also open when volunteer availability allowed and was visited by 1400 people. Events 10 of the popular Archive Talks were given onllne through the year. Audiences, averaging some 40 people, came from the UK and overseas, Talks were also given to West Cumbria U3A and a local group at Drigg. A team of staff and trustees staged a History Day at Whitehaven Academy attended by 200 year-7 children. The Museum co- hosted 2 days of a Young Engineers event and volunteers manned stands at Gosforth Show Black Coombe Country Fair. The Museum also co-hosted a Bluey and Bingo event and the Santa events run by the Ravenglass and Eskdale Railway and staged a Dino-mania event funded though Cumberland Council and the UK Shared Prosperity Fund. These events were useful in introducing many young people and families to the attractions the Museum has to offer. Katie made successful visits to the Perrygrove Railway in May and the Heatherslaw Light Railway In August. This was the first vislting englne Heatherslaw had hosted and created excellent publicity for the Museum. Exhlbitlons The exhibition celebrating the centenary of River Esk continued through to June. Forthe second half of the year an exhibition "Walks from Ratt¢, explored the history of the relationship between Alfred Wainwright and the Railway and his Ilttle booklet of walks. The Wainwright Society klndly sponsored the exhibition with a donatlon of £IOOO and helped to update the booklet with an insert describing the changes that had occurred since the booklet was written. The Museum also teamed up with members of the Society and local historian, Alan Cleaver, to offer a series of guided walks In July and September. Archiving work continued throughout the year, Good progress was made with reduclng the amount of material still to be catalogued. The Museum has signed up to the Museum Data Service organised by the Collections Trust. This will enable information on the collection to be available on-line. Fundin and ects Just Glvlng £785 was raised through Just Giving for the repair and refurbishment of Quarryman. Donatlons and Scrap Metsl Scheme The successful scrap metal donation scheme continued for a fifth year. raising £2290. Supporter5 donated scrap into a skip onsite which was then traded for cash for the Museum. People also rescued item5 from the skip, giving a donation to the Museum. The Trustees are extremely grateful to those who voluntarily run this scheme which has raised considerable funds for the Museum.

uiries The Museum continued to deal with research enquiries with 17 being recorded during the year. FINANCIAL REVIEW Donations and grants received amounted to £32,192, 3 conslderable improvement on the £17,734 received in 2023. Included in thi5 was a donation of £5,000 from Alan Palmer in memory of his parents and a UK Shared Prosperity Fund Grant of £9,675 for the Dinosaur event. Net income from the Pullman camping coaches at £13,814 also remained strong. As a result, the Museum had an operating surplus of £9165 which helped to repair reserves after the overspend on Synolda in 2023. The Trustees have decided to transfer a further £5,000 into the designated fund for the maintenance of the heritage camping coaches, taklng this fund to £15,000. This leaves unrestricted reser4es at 31 December 2024 at £38,921 and, of those, free reserves were £10,221 The Trustee5 have agreed that the Trust needs to hold unrestricted free reserves of at least one yearfs operating costs which amount to approximately £30,000 and continue to work towards this objective. Signed on behalf of the Trustees rf.I Peter R W Hensman Chair Date: aZJ-

RAVENGLASS RAILWAY MUSEUM TRUST STATEM￿ OF FINANCIAL ACTIVITIES FOR THE YEAR EN[￿D 31 DEc￿BER 2024 2024 2024 2024 Unrestrid&J C*signated Restricted 2023 Total Total Incorring resources tk)nations aThJ ￿3¢le$ Income from Pullman Coaches Charitable actiwlie5 Total 20,280 13,814 2,791 36,885 11.913 32,194 13,814 2,791 48.798 17.734 13,541 1,989 33,264 11.913 Resources axponded Expgndliuro w: Raising fvnds Charitable actiNiti6S Other Total 216 26,637 604 383 64,999 270 60,69) 37,007 37.395 26,853 64.248 Net incomg1(expenditure) Transfers bet%%Een funds Net movement in funds (5101 4,675 4,165 114,9401 (9.6751 124.6151 115.450) 32,388 115.450) {21,6671 Reconcillation of funds." Total fund$ brought fU￿a Total funds carn.ed fonvard 34.756 ' 10.CKN) ' 448,477 38.921 15,0￿ 423,862 493.233 477,783 547,288 525,620

RAVENGLASS RAILWAY AIUSEUM TRUST &4LANCE SHEET AT 31 DECYd8ER 2024 2024 2024 2024 UnTrstricted f*signated Restrict Total Tot Fixed assets Tangible assets Hentage assets 28.7(M) 421,318 450.018 475,205 28.7CKI 421.318 450,018 475,205 Current assets Debtors Cash and cash equivalents Total current assets 10,587 5,276 9,724 15.OQM) 15.￿3 12.267 28,130 13,567 12,047 25.614 10,587 Creditors: an￿Unts falllng due V•ithin one year Net current assets/(liabllfties) 1366) 10,221 1366) 17.58n 27,764 18,027 15,0 Totalassets less currentliabilths 38.921 15,0 423,862 4TT,783 493,233 Credltors: aff￿nIs fallFw du• after one y8ar Total net assets 38.921 15,CrtX) 423,862 477,783 493,233 Funds of the Charity Restricted income funds Designated fvnds Unrestricted fvnds Total funds 4f3,862 423,862 448.477 15.0 10,IJ 38,921 34,756 4T1.783 493.233 15,C4)0 38,921 38,921 15,C(JO 423,862 sIgr￿ by PRW Fknsman cffl t¥ehaWof all the tNstees Slgnatu

RAVENGLASS RAILWAY MUSEUM TRUST NOTES TO THE ACCOUNTS- 31 DECEMBER 2024 Accountlng pollcles Statement of ¢ompllance The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the Charities Act 2011 and UK Generally Accepted Practlce. Basls of preparatlon The Trust meets the definition of a public benef it entlty under FRS 102. Assets and Ilabilities are initlally recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. Golng concern The Trust holds unrestricted funds of £43,921 including free reserves of £15,221. With thi5 considerable buffer, the Trustees are of the view that the Trust remains a going concern and the accounts have been prepared on this basis. Fund accountln8 poIIcy Unrestricted income funds are general funds that are available for use at the Trustees, discretion in furtherance of the objectives of the Trust. Designated funds are general funds whlch the Trustees have earmarked for a speclfic purpose. Restrlcted funds are those donated for use in a particular area or for specific purposes, the use of which is restrirted to that area or purpose. Further details of each fund are disclosed in note 9. Income and endowments Voluntary income, including donations, gifts and grants that provide core funding or are of a general nature is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Incoming resources from tax reclaims are included in the statement of financial activities when they are received. Donated goods, services and facllities The value of donated goods. services and facilities are not included in income or expenditure. Such items are currently incidental to the operation of the Trust and the Trustees do not believe that the work needed to. record them will be justified by the benefit provided to a user of the accounts.

Volunteer help The value of any voluntary help received is not included in the accounts but is described in the Trustees, Annual Report. Expenditure Liabilities are recognised as 500n as there is a legal or construrtive obligation committing the Trust to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Charitable expenditure comprises those costs incurred by the Trust in the delivery of its activities. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Herlta8e assets The Trust has heritage assets- that is non-monetary assets wlth historic and technological qualities that are held and maintained principally for their contribution to knowledge and culture. Further details of heritage assets and their treatment in these accounts are given in Note 6. Cash and Cash Equovalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change In value. Penslons The Trust operates a defined contribution pension scheme. Contributions are charged in the statement of financial activitie5 as they become payable in accordance with the rules of the scheme.

1. ANALYSIS OF INCOMING RESOURCES 2024 2024 Note Unrestricted Restricted 2024 Total 2023 Total t)ortalions and legacies Donations and gifts In¢ome from Pullman Coachos Gift Aid 18.134 13.814 2,146 34,094 2,238 ' 20,372 13,814 2,146 36,332 15,674 13,541 2,060 31,275 2,238 Charitable A¢liNities E￿ntS and hiTes Specific grants proiided by Go*rnmenUother Oth8r 1,￿7 1,567 9.675 9,675 1,224 12,466 1,224 2,791 9,675 Totsl Incom• 36,885 ' 11,913 48.798 ' 33.264 Analysis of G0￿Mment Grants 2024 2023 UK Shared Prosperity FurKI 9,675 9,675 All incorne in 2023 was unrestricted except for donations and grants of £2,356.

2. ANALYSIS OF RESOURCES EXPENDED Note 2024 2024 Unrestricted Restricted 2024 Total 2023 Total Expenditure on raising fvnds Incurred seeking donations Incurred seeking leg2cFes Ad￿rtisIng, marketing and pub 216 411 388 216 411 ExFenditure on charitable aCtI￿tieS Renl and rates Maintenance En)fironment management reciation Staff costs and training Equipment and materials Repair and ¢onserYation Subscriptiorvs Publicity and V￿site Insurance Temporary exhibition and thenl costs Collection acquisition 3,600 105 3,600 105 3,680 1,110 25,187 25,187 18,341 850 1,450 117 281 1.794 25.187 14,117 18,341 6,959 117 281 1,794 291 1,438 11.317 331 36,737 11,317 331 63,374 1,375 226 59,979 26.637 Ott￿r expendilu Independent eXami￿S fees Bank cha 270 270 300 270 270 300 Total expendlture 37,395 . 26.853 ' 64,248 60,69)

3. EMPLOYEES AND PENSIONS 2024 2023 Salaries and wages Sccial security costs Pension contributions 16,961 13,167 1,380 18,341 1,023 14,19) The average headcount for the year was I person working on charitable attivities. The Trust pays pension contributions for one employee into a defined contribution scheme. They form part of the employment costs for the charitable activity of running the Ravenglass Rallway Museum.

S. TANGIBLE ASSETS Leasehold land & bLFildings Fixtures, fittings and equipment Total COST At 1 January 2024 Additions Disposals At 31 December 2024 552.273 128.986 681.259 552.273 128.986 681.259 DEPRECIAMON At 1 January 2024 Charge for the year At 31 De¢ember 2024 110,785 12,288 123.073 95,269 12,899 108.168 206,054 25.187 231.241 NET BOOK VALUE At 1 January 2024 441,488 33,717 475,205 At 31 December 2024 429,200 20,818 450,018 The Trust leases the Museum site from the Ravenglass & Eskdale Railway Company. The lease is for 50 years commencing 14 October 2010. Leasehold land and buildings are being written off over the period of the lease. Fixtures, flttings and equipment are depreciated at IO% per annum. 6. HERITAGE ASSETS The Trust owns a collection of heritage railway artefacts relatlng to the Ravenglass & Eskdale Railway, the Furness Railway and local railway history, These have been acquired since the Museum was established in 1976 and are still being added to, mainly through donations. The Trust'5 policy on the acquisition, preservation, management and disposal of heritage assets is set out in the Trust's Collections Development Policy which is available on request. Sound curatorial reasons must be established before consideration is given to any acquisition to the collettion or any disposal from the collection. The collection has been built up over 40 years mainly by donatlon supplemented by the occasional small purchase. No value has ever been placed on the donations and any acqLtisitions have not been of a material value and have been written off in the year of purchase. The Trust has no intention to sell the collection nor could it ever be replaced. The Trustees do not therefore consider that there is any justifiable purpose in trying to place a value on the collection or incurring the cost of a professional valuation.

1. DEBTORS AND PREPAYMENTS 2024 2023 Prepayments and accrued income 15.883 9,314
2. CREDITORS AND ACCRUALS Loans and o*rdrafts Other creditots 7.500 1,576 9,076 366
3. DETAILS OF FUNDS Fund bala￿S brought Fund Expenthlure Tran$tsrB balances carried Fund Incomo D￿lOPMent Prc48cI Fund Restricted 448.505

4. 1871 421,318 Synddg Repair FLmd R8$tri¢led 1,453 11.4501 13 Quarrym￿ Ryir Fund Restfietad 1.971 785 12181 2,S44 R8slftcled Granl$ Re81ricted 9,875 19,6751 Camping Coach Maintenance Fund 138signated 10.1]00 15.000 Unrestrictwj Unrest'8d 34.756 36,888 137,3951 4,675 38,921 rotal Fund8 493,233 48,799 64,2481 477,783 The Development Project Fund was established to fund the refurbishment and extension of the Museum and 3 programme of activities. This project was completed in 2017. The Synolda Repair Fund is crowdfunded through JustGiving. It was established in 2019 to pay for the refurbishment of the locomotive Synolda to enable it to continue to operate occasionally. The project was completed in 2024. The Quarryrnan Repair Fund is crowdfunded through JustGiving. It was established in 2022 to pay for refurbishment of the locomotive Quarryman to enable it to operate occasionally. Restrirted grants- the Trust received a UK Shared Prosperity Grant to support a Dino Mania event. The event took place in September 2024 The Camping Coach Maintenance Fund has been designated by Trustees to ensure that funds are available for large maintenance projectsi particularly on the heritage Camping Coaches. The Trustees decided to transfer a further £5000 into this fund this year.

5. TRANSACTIONS WITH TRUSTEES AND RELATED PARTIES a. None of the Trustees have received any remuneration, benefit or expenses from the Trust in 202312022: nll). b. The Ravenglass & Eskdale Railway Co. Ltd I'the Company,) and the Ravenglass & Eskdale Railway Preservation Society and Trust are related parties. In 2024, one trustee, G Townsend was a director of the Company and P. Hensman was its President. In addition, two trustees, S Harrison and P van Zeller were members of the Preservation Society Council, c. The Ravenglass & Eskdale Railway Company own5 the freehold of the land on which the Museum stands and part of the building. The Trust pays a rent of £3500 pa to the Company. d. The Rw4englass & Eskdale Railway Company made an unsecured and interest free loan to the Trust in 2017 to enable it to complete the extension and refurbishment of the Museum. The flnal repayment of £7500 was made +in 2024. e. The Ravenglass & Eskdale Rallway Company and the Trust have worked togetheron a project to restore two historic Pullman Camping Coaches situated at Ravenglass. The Trust obtained a grant of £250,000 from the National Lottery Heritage Fund as its financial contribution to the projett. It re￿iVeS 62.5% of the surplus made in the letting of the coaches as holiday accommodation.

Independent Examiner's report on the accounts of the Ravenglass Railway Museum Trust I report on the accounts of the Ravenglass Railway Museum Trust for the year ended 31 December 2024, which are set out over 14 pages including the Trustees Report. Respective responsibilities of trustee and examiner The charity's trustee is responsible for the preparation of the accounts. The charity's trustee considers that an audit is not required under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. It is our 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 our attention. Basis of independent examiner's statement My examination was carried out in accordance with 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 the trustee concerning any such matters. The procedures undertaken do not provide as to whether the accounts present a 'true and fair, view and the report is limited to those matters set out in the next statement. Independent examlner's statement In connection with our examination, no matter has come to our attention: (1) Which gives us reasonable cause to believe that in any material respect the requirements: to keep accounting records in accordance with section 130 of the 2011 Act,. and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act other than the need to apply the Charities SORP {FRSSE). have not been met; or (2) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Redhead Accountancy Ltd Chartered Accountants Bank House, Grrffin Street Broughton-in-Furness Cumbria LA20 6HH Signed on behalf of Redhead Accountancy Ltd 12 June 2025