REGISTERED COMPANY NUMBER: 01112380 (England and Wales)
REGISTERED CHARITY NUMBER: 507266
Report of the Trustees and
Financial Statements
for the Year Ended 31 December 2024
for
Ribble Steam Railway Limited
SB&P
Chartered Accountants
Oriel House
2-8 Oriel Road
Bootle
Liverpool
Merseyside
L20 7EP

Ribble Stsam Railway Limited
Contents of the Financlal Statements
for the Year Ended 31 December 2024
Page
Report of the Trustees
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet
Notes to the Financial Statements
9 to 15

Ribble Stsam Railway Limited
Report of the Trustees
for the Year Ended 31 December 2024
The elected trustees who are also Directors of the Charity for the purposes of the Companies Act 2006, present their
report with the financial stalemenls ofthe Charity for the year ended 31st December 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 & Republic of Ireland (FRS 102} effective 1 January 2019
Page 1

Ribble Steam Railway Limited
Report of the Trustees
for the Year Ended 31 December 2024
OBJECTIVES AND ACTIVITIES
Objectives and aims
The main objectives of Ribble Steam Railway Ltd are the operalion of a Steam Railway, Exhibition Centre, Workshop
and Museum. and to provide and assist in the provision of facilities which reflect, remember and interpret the halcyon
days of Industrial Railways in the British Isles.
Financial Performance
Overall income was down by 130/0 in 2024 compared to 2023, a large contributor to this being a reduction in gift aid
payments from Ribble Rail due to a cost challenge on the Total contract in late 2023. Most other income streams have
seen some level of growth though.
General Admission income was up by 129/0 over 2023
Cafe income was up by 270/0
Buffet Car income was up by 3630/0
Shop incorne was comparable to the previous year
All of this was achieved with only a 40/0 increase in expenditure across the above three areas.
Income less Gift Aid and other income from Ribble Rail was up by 16D/o
Santa continues to be a very popular event, & we must again thank all the volunteers from differing departments for all
of their help at such a very busy time.
Volunteers
The number of volunleers is still growing. bul we always need more to help out al the very busy limes.
Projects
Work on the turntable installation has continued but it will not be completed for use until late 2025.
Restoration of both Steam & Diesel locos is progressing but yet again, more bodies are still required to keep up with
the ongoing demand.
The 10 year boiler tickets on Linda & Courageous expired irb 2024.
Ribble Rall Ltd
In September 2024,Tolal gave notice that they would be terminating the haulage contract & reverting to road transport
for both inbound & outbound traffic. This did not come as a total surprise, but was still a shock to all concerned.
Again a massive thank Ihank you to all the volunteers & staff who conlribuled their lime & efforts in 2024.
THIS IS STILL VERY MUCH APPRECIATED
Dave Watkins
Chair
Public benefit
We have referred to the Charity Commission's general guidance on public benefit when reviewing our aims and
objectives and planning fvture activities. In particular the trustees consider how planned activities will contribute to the
aims and objectives they have set.
Page 2

Ribble Steam Rallway Limited
Report of the Trustees
for the Year Ended 31 December 2024
FINANCIAL REVIEW
Reserrfes policy
The trustees have set a target range for free general reseNes of six months expenditure and aim to retain working
capital within that range. Net current assets at the balance sheel date amounted to £236,113 and therefore fell in within
the required level expected.
The reSe￿e provides the Irustees with sufficient solvency and time to take whatever action would be necessary if there
was a threat to the continuing operation of the charitable aclivilies.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Ribble Steam Railway Limited is a registered charity, constituted as a company limited by guarantee, as defined by the
Companies Act 2006.
It's objects, powers and other constitutional matters are set out in il's Memorandum and Articles of Association. It is
govemed solely by the Board of Trustees who are responsible for setting the strategic direction of the organisation and
establishing policy.
REFERENCE AND ADMINISTRATIVE DETAILS
Registsred Company number
01112380 (England and Wales)
Registered Charity number
507266
Registered office
Chain Caul Road
Riversway
Preston
PR2 2PD
Trustees
D W Vlatkins
A R Walker
M Bailey
A Vipond (resigned 30.7.25)
P Liddle
M Burke
Mrs A Pinch
T Owen
M Rigg (resigned 22.10.241
S Cain
G Severn
S Waugh
K Smith (appointed 22.10.24)
Company Secretary
M Bailey
Independent Examlner
Suzanne Draper FCCA ACA
SB&P
Chartered Accountants
Oriel House
2-8 Oriel Road
Bootle
Liverpool
Merseyside
L20 7EP
Page 3

Ribble Steam Railway Llmited
Report of the Trustees
for the Year Ended 31 December 2024
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating
to small companies.
Approved by order ofthe board oflrustees on
and signed on its behalf by..
D W Watkins - Trustee
Page 4

Independent Examiner's Report to the Trustees of
Ribble Steam Railway Llmited
Independent examiner's report to the trustees of Ribble Steam Railway Llmlted I'the Company'l
I report to the charity trustees on my examinalion of the accoLFnts of the Company for the year ended
31 December 2024.
Responsibilities and basls of report
As the charitls trustees of the Company (and also ils 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 {'the 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 Act 2011 I'lhe 2011 Act,). In carrying out my examination I have followed the
Directions given by Ihp Charily Commission under Section 145(5) {b) of the 2011 Act.
Independent examinerfs statement
Since your charity's 9ross income exceeded £250,000 your examiner musl be a member of a listed body. I can confirm
that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in
England and Wales, which is one of the lisled bodies.
I have completed my examination. I confirm that no malters have come to my attention in connection with the
examination giving me cause lo believe..
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
the accounts do not accord with those records., or
the accounts do not comply with the a¢counting requirements of Section 396 of the 2006 Acl other than any
requirement thal 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 and principles of the Statement of
Recommended Practice for accounting and reporting by charities (applicable to charities p￿parIng their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
(FRS 102)).
I have no concems and have come across no other matters in connection with the examination lo which attention
should be drawn in this report in order lo enable a proper understanding of the accounts to be reached.
Suzanne Draper FCCA ACA
The Institute of Chartered Accountants in England and Wales
SB&P
Chartered Accountants
Oriel House
2-8 Oriel Road
Bootle
Liverpool
Merseyside
L20 7EP
Date..
L5...........
Page 5

Ribble Steam Railway Limitsd
Statement of Financial Activities
for the Year Ended 31 December 2024
31.12.24
Total
funds
31.12.23
Total
funds
Unrestricted
funds
Restricted
fund
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
50,431
50,431
96,627
Other Gharitable activities
252,123
252,123
252,480
Total
302,554
302,554
349,107
EXPENDITURE ON
Raising funds
122,630
122,630
117,690
Charitsble activities
Operation of steam railway and exhibition centre.
179,058
1,200
180,258
166,024
Total
301,688
1,200
302,888
283,714
NET INCOMEI(EXPENDITUREI
866
(1,200)
(3341
65,393
RECONCILIATION OF FUNDS
Total funds brought fotward
1,634.073
21,600
1,655,673
1,590,280
TOTAL FUNDS CARRIED FORWARD
1,634,939
20,400
1,655,339
1,655,673
The notes form part ofthese financial statemenls

Ribble Steam Railway Limited (Registered number: 01112380)
Balance Sheet
31 December 2024
31.12.24
Total
funds
31.12.23
Total
funds
Unrestricted
funds
Restricted
fund
Notes
FIXED ASSETS
Tangible assets
Investments
1,398,726
100
20,400
1,419,126
100
1,446,146
100
1,398,826
20,400
1,419,226
1,446,246
CURRENT ASSETS
stocks
Debtors
Cash at bank and in hand
6,700
47,636
208,544
6,700
47,636
208,544
11,000
53,504
149,890
10
262,880
262,880
214,394
CREDITORS
Amounts falling due within one year
(26,767)
126,767)
(4,9671
NET CURRENT ASSETS
236,113
236,113
209,427
TOTAL ASSETS LESS CURRENT LIABILITIES
1,634,939
20,400
1,655,339
1,655,673
NET ASSETS
1,634,939
20,400
1,655,339
1,655.673
FUNDS
Unrestricted funds..
General fund
Resti'icted funds
12
1,634,939
20,400
1,634,073
21.600
TOTAL FUNDS
1.655,339
1,655,673
The charitable company is entitled to exemption from audit under Section 477 of the Companies AGt 2006 for the year
ended 31 Decembèr 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended
31 December 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a)
ensurtng that the charilable company keeps accounting records that comply with Sections 386 and 387 of the
Companies Act 2006 and
preparing financial slalements 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.
(b)
The notes form part of these financial statements

Ribble Steam Rallway Limited (Registered number: 01112380)
Balance Sheet- continued
31 December 2024
These financial statements have been prepared in accordance with the provisions applicable to charitable companies
subject to the small companies regime.
The financial slatements were approved by the Board of Trustees and authorised for issue
.1.1.- 4! a-....... . tsL.?..... and were signed on ils behalf by..
on
D W Watkins - Trustee
The notes fomi part of these finanGial Statements

Rlbble Steam Railway Limited
Notes to the Financial Statements
for the Year Ended 31 December 2024
ACCOUNTING POLICIES
Basis of preparing the financial statements
The finanoial statements of the charitable company. which is a public benefit entity under FRS 102, have been
prepared in accordance with the Charities SORP (FRS 102) 'Accounling 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 1 January 20191,,
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of
Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost
convenlion, with the exception of investments which are included at market value.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it
is probable that the income will bè received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligalion commilting the
charity to that expenditure, it is probable that a Iransfer of economic benefits will be required in settlement and
the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and
has been classified under headings Ihat aggregate all cost related to the category. Where cos15 cannot be
directly attributed to particular headings they have been allocated to activities on a basis consistent with the use
of resources.
Tangible fixed assets
Deprecialion is provided at the following annual rates in order to write off each asset over its estimated useful
life.
Long leasehold
Improvements lo property
Plant and machinery
Fixtures and fittings
Major exhibils
Minor exhibits
1% oncost
5% on cost and 10/4 on cost
50/0 on reducing balance
5% on reducing balance
50/0 on reducing balance
50/0 on reducing balance
Stocks
Stocks are valued al the lower of cost and net realisable value, after making due allowance for obsolete and
slow moving items.
Taxation
The charity is exempt from corporation lax on its charitable activities.
Fund accounting
Unrestricted funds cAn be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Pension costs and other post-retirement benefits
The charilable company operates a defined contribution pension scheme. Contributions payable to the
charitable CoMpan￿S pension scheme are charged to the Statement of Financial Activities in the period lo
which they relate.
Page 9
continued...

Ribble Steam Railway Limited
Notes to the Financial Statements- contlnued
for the Year Ended 31 December 2024
OTHER CHARITABLE ACTIVITIES
31.12.24
31.12.23
Subscriptions
Admissions
Shop
Santa specials
Buffet Car
Solar panel income
Cafe
Room & Sile hire
Scrap metal
Plant use
Management fees
Strand Road
Signal & Telegraph
Use of Building
Rail futdres income
Dining income
School visits
Special events
Diesel Locomotive support
2,308
56,891
13,637
85,610
3,004
2,344
20,492
7,413
443
4,583
18,333
2,071
50,923
13,694
82,909
649
2,192
16,188
304
4,500
23,500
23,500
5,500
18,000
8.550
4,400
15,583
6,000
4.897
660
1,125
4,400
252.123
252,480
NET INCOMEIIEXPENDITURE)
Net incomel(expenditurel is stated after chargingl(crediting):
31.12.24
31.12.23
Depreciation - owned assets
Accountant's fee- Examination Current Year
Accountant's fee - other services
27,020
4,600
2.129
27,499
4.450
1,062
TRUSTEES, REMUNERATION AND BENEFITS
31.12.24
31.12.23
Trustees, salaries
3,011
2,895
Dave Walkins was paid a salary in line with the Charity's Conslitulional documents in relalion to the
bookkeeping services it provides lo Ihe charity.
Trustees. expenses
Thera were no trustees, expenses paid for the year ended 31 December 2024 nor for the year ended
31 De￿mber 2023.
Page 10
ontinued...

Ribble Steam Rallway Limitsd
Notes to the Financial Statements - continued
for the Year Ended 31 December 2024
STAFF COSTS
31.12.24
31.12.23
Wages and salaries
Social security costs
Other pension costs
52,468
4,195
1,062
46,460
3,099
719
57,725
50,278
The average monthly number of employees during the year was as follows..
31.12.24
31.12.23
Chief executive
Other staff
No employees received emoluments in excess of £60,000.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
Restricled
fund
Total
funds
INCOME AND ENDOWMENTS FROM
Donations and legacies
96,627
96,627
Olher charitable activities
252.480
252.480
Total
349.107
349,107
EXPENDITURE ON
Raising funds
117,690
117.690
Charitable activities
Operation of steam railway and exhibition
centre.
164,824
1,200
166,024
Total
282,514
1,200
283,714
NET INCOMEI(EXPENDITURE)
66,593
(1,200)
65,393
RECONCILIATION OF FUNDS
Total funds brought forward
1,567,480
22,800
1.590,280
TOTAL FUNDS CARRIED FORWARD
1,634,073
21,600
1,655,673
Page11
continued...

Ribble Steam Railway Limited
Notes to the Financial Ststements - continued
for the Year Ended 31 December 2024
TANGIBLE FIXED ASSETS
Improvemen15
to
property
Long
leasehold
Plant and
machinery
COST
At 1 January 2024 and 31 December 2024
639,177
895,931
253,334
DEPRECIATION
At 1 January 2024
Charge for year
89,685
6,394
181,810
11,499
92,829
8,025
At 31 December 2024
96,079
193,309
100,854
NET BOOK VALUE
At 31 December 2024
543,098
702,622
152,480
At 31 December 2023
549,492
714,121
160,505
Fixtures
and
fittings
Major
exhibits
Minor
exhibits
Totals
COST
At 1 January 2024 and 31 December 2024
57,540
8,935
174
1,855.091
DEPRECIATION
At 1 January 2024
Charge for year
37.370
1,009
7,113
91
138
408,945
27,020
At 31 December 2024
38,379
7,204
140
435,965
NET BOOK VALUE
At 31 December 2024
19,181
1,731
34
1,419,126
At 31 December 2023
20,170
1,822
36
1,446,146
FIXED ASSET INVESTMENTS
Shares in
group
undertakings
MARKET VALUE
At 1 January 2024 and 31 December 2024
100
NET BOOK VALUE
Al 31 December 2024
100
At 31 December 2023
100
There were no investment assets outside the UK.
The company's investments at the balance sheel date in the share capital of companies include the following-
Page 12
continued...

Ribble Steam Railway Limited
Notss to the Financlal Statements - continued
for the Year Ended 31 December 2024
FIXED ASSET INVESTMENTS - continued
Ribble Rail Limited
Regislered office..
Nature of business: Railway operating company
Class of share:
Ordinary £10
holding
100
31.12.24
31.12.23
Aggregate capital and reserves
Profit for the year
29,269
75,816
2,074
83,391
STOCKS
31.12.24
31.12.23
Stocks including coal
6,700
11,000
10.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24
31.12.23
Trade debtors
Amounts owed by group undertakings
VAT
Prepayments
6,268
16,090
36,090
17.414
25,278
47,636
53,504
11.
CREDITORS". AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24
31.12.23
Trade creditors
Pension Control Account
VAT
Accrued expenses
14,227
197
8.844
3,499
187
4,780
26,767
4,967
12.
MOVEMENT IN FUNDS
Net
movement
in funds
At
31.12.24
At 1.1.24
Unrestri¢ted funds
General fund
1,634,073
866
1,634,939
Restricted funds
Heritage Lottery fund
21,600
(1,200)
20,400
TOTAL FUNDS
1,655,673
1334)
1,655,339
Page 13
continued...

Ribble Stearn Railway Limlted
Notes to the Financlal Statements - contSnued
for the Year Ended 31 December 2024
12.
MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows..
Incoming
resources
Resources
expended
Movement
in funds
Unrestricted funds
General fund
302,554
(301,688)
866
Restricted funds
Heritage Lottery fund
11,200)
11,2001
TOTAL FUNDS
302,554
1302,8881
(3341
Comparatives for movement in funds
Net
movement
in funds
At
31.12.23
At1.1.23
Unrestricted funds
General fund
1,567,480
66,593
1,634,073
Restrlcted funds
Heritage Lottery fund
22,800
{1,200)
21,600
TOTAL FUNDS
1,590,280
65,393
1.655.673
Comparative net movement in funds, included in the above are as follows..
Incoming
resources
Resources
expended
Movement
in funds
Unrestricted funds
General fund
349,107
(282,514)
66,593
Restricted funds
Heritage Lottery fund
{1,200)
(1.200}
TOTAL FUNDS
349,107
(283,714)
65,393
Page 14
continued...

Ribble Steam Railway Llmited
Notes to the Financial Statements - continued
for the Year Ended 31 December 2024
13.
RELATED PARTY DISCLOSURES
Ribble Rall Limitsd- wholly owned subsidiary
The charity received donations from the above of £48,621 {2023.' £95,541). The charity also received
Management fees and reimbursed expenses of £42,900 {2023.' £75,000)
Included in deblors are amounls due from the above of£16,090 (2023: £36,090)
UNRESTRICTED FUNDS
14.
The General fvnd may be used at the discretion of the trustees for the fvrtherance of the charity's objectives.
RESTRICTED FUNDS
15.
Heritsge Lottery fund
The purpose of this fund is lo refurbish the cafe area. build an additional bay platform and to improve the
outside appearance of the museum building with a series of railway themed murals. Also within scope are
upgrades to the site l.T. technology and the production of digital learning materials..
CONTROLLING PARTY
16.
The charily is controlled by its Board of Trustees.
Page 15