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.

2. 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.

3. 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)
4. 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.

7. DEBTORS AND PREPAYMENTS
2024
2023
Prepayments and accrued income
15.883
9,314
8. CREDITORS AND ACCRUALS
Loans and o*rdrafts
Other creditots
7.500
1,576
9,076
366
9. DETAILS OF FUNDS
Fund
bala￿S
brought
Fund
Expenthlure Tran$tsrB balances
carried
Fund
Incomo
D￿lOPMent Prc48cI Fund
Restricted
448.505
125. 1871
421,318
Synddg Repair FLmd
R8$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.

10. 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