li THE KtDDERMINSTER RAILWAY MUSEUM TRUST LIMITED A COMPANY LIMTfED BY GUARANTEE REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2024 REGISTERED CHARITY NUMBER- 518479 COMPANY NLIMBER - 2033064 ENGLAND & WALES Silver & Co Accountants Taxation & BSinesS Advisors
li THE KtDDERMINSTER RAILWATr MbSEUM TRUST LIMITED A COMPANY LIMETED BY GLTARANTEE coNrENTS Legal & adtninistrative inforn]ation Trusiees, Annual Report Independent Examiners Report Consolidated statemcnt of financial activities Consolidated and chlty balance sheets Notes forming part of the financial statements 10-17 For the infornRation of the Directors and Trustees only: DetaiEed trading and profit and loss accounts 18- 19
li THE KtDDERfftsT£R RAILWAY IUsEUm TRUST LIMITED A COMPAINT LIMIIID BY GUARANTEE LEGAL AND ADMINISTRATIVE ThFORMATION DIRECTORS & TRUSTEES S. A. Tull A. J. Lanthert S. A. Williatns (Chairman) P. D. Redfem D. J. Grainger D. J. Evans R. J. Saull M. E. J. Yarker J. K. Broughton CHIEF EXECUTIVE S. A. willian (Chairnwi) SECRETARY I. S. Baxter REGISTERED OFFICE Station Approach.. Comberton Hill, Kiddern]inster, WorcestersbiTC. DYIO IQX INDEPENDENT EXAMINERS li Silver & Co.. The Hollies, 16, St. JoIS StreeL Bridgnortb. Shropshire. WV15 6AG. Barclays Bank Plc., IKicester. LE87 2BB Lloyds TSB Bank Plc., Vicar S( Kidderniinster, Illorcestershire.
THE laDDERTrttSTER Il4tLWAY MLSEUM TRUST LIMITED A COMPANY LIMITED BY GUARANTEE TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31st DECEMBER 2024 The trustees, who are also Directors of the charity for the puos&S of the Companies Act, subn]it their annual report and the unaudited financial statements for the Year Ended 31 st December 2024. The trustees have adopted the Provisions of the Statement of Recottllnended Practice (SORP) Accounting and Rcporting by Charities" issued in 2005 ill preparing the annual report and financial statcments of the ChtY. Directors and Trustees The Directors and Trustees who served during the year were as follows: S.A. Tull A.J. Lambert S. A. Williams (Ch2irnMI) P. D. Redfern D. J. Grainger D. J. EvaLL8 11 J. Saull M. E. J. Yarker J. K. Broughton Structhre, Governance and Management The Company is govemed by its Articles of Association and is controlled by the Directors. Statement of Directors, and Trustees, Responsibililies The trustees (who aTe also directors of Kiddemiinster Raihvay Museum Trust Ltd for the purposes of company law) arc responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the ttustees to prepare financial ststcments for each financial year. which give a true and fair view of the state of affairs for the clwitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees arc required to: - select suitable accounting policies and then apply them consistently" - observe the methods and principles in the Charities SORP 2015 (FRSSE); - make judgements and estimates that are reasonable and prudent. - state whether applicable UK Accounting StaDdards have been followe(L subject to any material departures disclosed and explained in the financial statements. - prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
THE klDDERMINSTER IL4tLWAY MUSEUM TRUST LIMITED A CO.MPMT LIMITED BY GUANTEE TRUSTEES, MNLAL REPORT FOR THE YEAR ENDED 31st DECEMBER 2024 The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the fmancial position of the charitable company and enable them to cnsure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking Te&sonable steps for the prevention and detcction of fraud and other irregularities. In so Lai as the trustees are aware: - there is no relevant inforniation of which the cbaritable companys examiner is unaware. and - the trustees have taken all steps that they ought to have taken to make themselves aware of any Televant infomiation and to establish that the examiner is aware of that inforn]ation. - The trustees are not in consultations with the independent examiners to provide further inforn]ation to meet the Tequirements of FRS 102 Statement of Recon]mended Practice. Internal Control and Risk Management The Directors review the effectiveness of all material inkrnal colltrols. including operational, fmancial and coEnpliancc controls and risk management systems. The internal control systems are designed to meet the CoMpanS particular needs and the risks to which it is exposed, to manage those risks and to provide reasonable assurance against misstatement or Ioss. Objectives and Activitles The objectives and activities of the clwity continued to be that of an independent Museum established for'&e collection of relics and documents dq)icting the railways of the Bntish Isles. Volunteers The charity is gratefvl for the unstinting efforts of its volunteers who arc involved in service provision. It is estimated that over 8,800 volunt¢er hours were provided duriDg this year. If this is conservativejy valued ai £1 1.44 an hour the volunteer cffort amounts to £100,600. Chairman's Annual General Meetin Re To all Staff: ort Strat cRe ort The number of visitors to the Museum is noticeably rU¢e<l due, in no small mc&8ure, to tbe SVR operating on fewcr days than previously been the case, together with the timings of the actual timetable. As things are at present, we are highly unlÉkely to reach pre-pandemic visitor fIgures. Room birings ren]ain fairly good, although tbese have also not yet returned to pre-pandemic leveL8. Though rail- related group continue to use the Museum for meetings but there has been a noticeabl¢ drop-off from 'outside' organisations. This is no doubt due to a combination of reasons". T¢duced business and the increased use of 'Zoom' alld'TEAMS' meetings.
THE K[DERllNSTER RAILWAY MUSEUM TRUST LIMITED A coPANy LIMITED BY GL'ARANTEE TRUSTEES, REPORT FOR THE YEAR ENDED 31st DECEhIBER 2024 Major events during this period wer¢ the Guild of Railway Artists exhibition which proved very successful in tern)s of paintings sol(l There -¢re fewer paintings on display, but sales were go(xL which gave a significant fillip to KRM fimds. Attendance at the PhotO-Fairs were acceptable, but not as good as usual. We have also lost two of th¢ regular traders duTing this period. The 2024 Signalling Weekellds were fully booked as have the ones for 2025. The 2024 ones appeared in a railway periodical wbicb pmvided some additional publicity. Cafe sales continue to provide a major source of income and the addition of the caTd-r¢ader continues to show benefits. As previously, Lightmoor Press continue to provide us with a regular stream of new books. Second-hand book donations have continued and we bave been in rec¢ipt of some significant coElectlODS. These enbance both our library and our second-hand book shelves. TL- on-going dISaLeements with EON have becn resolved amicably. Similarly, the negotiation with the rating authorities over our business rates liabilÉty, and the subsequent appeal, were found in our favour. Throughout this period atteropts were made, once again: to balance our staffing requiremcnts in accordallce with both our footfall and increasing costs. The increase in the Living Wage and the on- going increase in costs of food and buijding materials continues to impact on the museunL WorK as ever, continued with processing our ever-growing photographic collection with the nutllbers atchived being approx. 300.000 black & white images, together with 50,000 colour images. We continue to receive significant additions to this arcbive. tncome from the sale of photographic images continued to be good during this period and shows no like]thood of decreasing. We hav¢ been notified that we are the recipient of two rnajor legacies, one from the estatc of the late Godfrey Stweart and the other from the late Alall Wycherley. Both of these will be substantial legaci and are cxpected to be paid some time in 2025. A programme of capital works will be deterrniD¢d as a result. Writing the above, I am conscious of the similarity with the previous Repon. Despite the poor economic situation and the probable reduction in disposable income, the MuseunL througb careful fitwicial managemenL remains on a sound footing. It just remains for me, once agai on behalf of all Trustees, to tlw)k all those who contribute to the Muscum's success, in whatever NTry. Your efforts are ttuly appreciated. S A Williams (3rd August 20251
E KIDDERMtI%STER RAILWAY MUSEUM TRUST LIMITEJ) A CoPT LIMITED BY GUARANTEE TRUSTEES, ANNUAL REPORT FOR THE YEAR LNDED 31st DECEMBER 2024 Statement of Disclosure of Information to Independent Examiners We, the Directors of the company who held office at the date of approval of these Financial Statements. as set out above, each confrn so far as wc are aware, that." ~ there is no televant inforn]ation of which the companvs independent examiners are unaware: and - we have taken all the steps that we ought to have taken as directors in order to make ourselves aware of any relevant inforn]ation and to establish that the companvs independent examiners are aware of that inforn]ation. Independent Examiners A resoIution proposillg that Silver & Co. be rc-appointed as independent examiners of the charity will be put to the Annual General Meeting. This reportwas approved bytheBoardon................................... Chairman
INDEPENDENT EKITrIINERS' REPORT TO TE TRUSTEES OF THE KDERmINSTER RALWAY MUSEUM TRUST LIMITED We report on the accounts of the cotnpany for 'the year ended 3 1st December 2024 which are set out on pages 8 to 17. Respects"ve responsibillties of Trustees xnd Independent Examiners The trustees (who are also the directors of the company for the puTroses of cornpany 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. tlaving satistied myself that the Charity is not subjeKt to audit under company law and is eligible for independent exan]ination, it is our responsibility to: - examine the accounts under section 145 of the 2011 Act" - foIlow the procedures laid down in the general directio$ given by the Charity Commission under section 145(5)(b) of the 2011 Act" and - stste whether particular njatters have come to my attention. Basis of Independent Examiner's report Our examination was carried out in accordance with the general directions given by the Charity Commission. An cxamination includes a review of the accounting records kept by the charity and omparison of the accounts presented with those records. It also includes consideration of any unUsi1 iten]s or disclosure in the accounts, and seeking explanations from you as trustees concerning any such matters. The pmccdures undertaken do not provide all the evidence that would be required in and audit and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is Iimited to those niatters sel out in the stateDt below. Independent exmainer's statement In connection with our examination, no matter has come to our attention". l) which gives us reasonable cause to believe thaL in any nterIal respect, the requirements: - to keep accounting records in accordance with section 386 of the Companies Act 2006. and - to prepe accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006, and are in accordance with the methods and principles of the charity comn]ission CCI 7a annual acccounts report. have not been met. or
INDEPENDENT EXATrllNERS' REPORT TO THE MEMBERS OF THE iaDDERMINSTER RAILWAY MUSEUM TRUST LIMITED CONTINUED 2) to which in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reacbed. The Hollies, 16, St. Joljns Street, BridOrth, Shropshire. WV15 6AG Silver & Co., Indcpendent Examiners.
HE KtDD£RMINSTER RAILWAY MUSEUM IRUST LIMITED A COMPANY LINIFTED BY GUAIL4KfEE CONSOLIDATED STATEMENT OF FtNANCIAL ACTIVITIES CLUDING SUMfvIARY INCOME AND EXPENDITURE ACCOIIN FOR THE YEAR ENDED 31st DECEMBER 2024 Unrestricted Restricted Funds Funds 2024 2023 Notes Incoming Resources Donations and Legacies Rent Received Café Incorne Hire of Premises Grants and Other Income Arts CoLClI grant Comtnission Jncome Bank knterest Received Signalling Weekend Fees Bequests Photos Profit on Sale of Bridge Profit on Salc of Bridge 2&3 2,520 2,520 7,226 65,650 2,974 65,650 2,974 56,505 5,517 100 2.320 993 1,371 I,(K)O 1,779 1.500 1,650 2,320 993 1,371 1,000 1,779 1,500 1,650 5.493 623 778 1,916 2,656 2&3 Total Incoming R¢sources 81.757 81.757 80,813 Resources Expended Direct Charitable Expenditure.. Exhibition Costs and Loss on Sales Propety hnprovements Museum Overheads 29,265 29,265 29,671 Other Expenditure managellnt & Administration 29,265 29,265 29,671 37,446 37,446 30,499 Total Resources Expended 66,711 66,711 60,171 Net tncoming Resources Fund Balances Brought Forward I st January 2024 Fund Balances Carried Forward 31 st December 2024 15.046 15,W6 20,642 296,437 212,555 508,992 488,350 311.483 212,555 524,038 508,992 All of the above results are derived from continuing activities. All gains and losses recognised in the year are included above.
THE KtDDERTrL llliSTER RAILWAY MUSE TRUST LIMITED A COMPANY LIMITED BY GUARANTEE BALANCK SHEET AS AT 31st DECEMBER 2024 2024 2023 FIXED ASSETS: Tangible assets Intangible assets Note 10 Ii 260,369 255,070 260,369 255,070 CURRENT ASSETS: Stocks Debtors due within one year Short tertn dq)osits Cash at Bank & in Hand 3,245 8,500 3,887 6,188 12 262,278 274,023 258,422 268,497 CREDITORS: amounts falling due within one year 13 (10,354) (14,576) NET CURRENT ASSETSI(LIABILITIES) 263,669 253,921 TOTAL ASSETS LESS CURRENT LIABILITIES 524,038 508,992 CREDITORS: amounts falling due after more than one year 14 NET ASSETS/(LIABILITIES) 524.038 508,992 FUNDS: Unrestrieted Funds General Funds Designated Funds 311,483 296,437 311,483 296,437 Restricted Funds 212,555 212.555 TOTAL FUNDS 17 524,038 508,992 These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime and in accordancewith the Financial Reporting Standard for Smaller Entities (effective April 2008). The financial statements on pages 8 to 9 were approved and authorised for issue by the trustees on j ? S:-:L,. A , 2LTis and signed on their behalf by: Director
IHE KIDDERhllNSTER RAILWAY MUSEUM TRUST LIMITED A COMPILW LLMtTED BY GUARANTEE NOTES FORMING PART OF IHE FIN'CIAL STATEMENTS FOR THE YEAR ElED 31st DECEMBER 2024 Accounting Policies (a) Basis of preparatio The fmanGial statements have been prepared under the historical cost convention, with the exception of investments which are Èncluded at market value. The fjnancial statements have been prepared in accordance with the Statement of Recommended Practice (SORP), "Accounting and Reporting by Charities" published in 2005 and the Financial Reporting Standard for Smaller Entities (effective ApriI 2008). The charity has availed itself of P2ragraph 4(1) of Schedule l of the Small Companies and Groups (Accounts and Directors, Report) Regulations 2008 and adapted the Companies Act fonnats to reflect the special nature of the clwitys activities. No separate SOFA has been presented for the charity alone as pernlitted by Section 408 if the Companies Act 2006 and paragraph 397 of the SORP. (b) Company Status The charity is a company lirnited by guarantee. The menthers of the company are the trustees named oll page l. In the event of the charity being wound up, the liability in respect of the guarant¢e is lin]ited to £1 per member of the charity. (c) Fund Accounting General funds are unrestricted fimds which are available for use at the disuetion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted ftLnds that have been set &side by the trustees for particular purposes. The aim and use of each designated fwld is set out in the notes to the financial statements. Restricted funds are funds Thhich are to be used in accordance with specific restrictions in)poscd by donors or which have been raised by tbe charity for particular purposes. The cost of raising and administering such funds are chatged against the specific fund. The aim and use of each restricted fLmd is set out in the notes to the fllwicial statements. Endownwit funds represent those assets which must ne held pern]anently by the charity, principally investments. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the investments forni part of the fund. Investtnent management charges and legal advice relating to the fimd are charged agaiLst the fimd. Investment income and gains are allocated to the appropriate fund. Jo
li THE K[DDER[tNsTER RAILWAY MUSEUM TRUST LIMIIED A COMPANY LINirrED BY CUARLNTEE NOTES FORNIING PART OF THE FLNANCIAL STATEMENTS FOR THE YEAR EI%DED 31st DECEMBER 2024 (d) Incoming Resources All incoming resources aTe included in the SOFA when the charity is legalIy entitled to the income and the amount can be quantifIed with reasonable accuracy. For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donaQd for resale are included as income when they are sold. Donated facilities are included at the value to the charity where this can be quantified and a third paty is bearing the cost. No amounts are included in the financial statements for services donated by volunteers. (e) Resources Expended All expenditure is accounted for on an accruals basis and has been clasified under headings that aggregate all costs rclated to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources. Premises overheads have been allocated on a floor area basis and other overbeads have been allocated on the basis of the head count. Fund-raising costs are those incurred in seeking voluntary contributions alld do not include costs of disseminating infonnation in support of the charitable activities. Support costs are those incurred direct]y in support of expenditure on the objects of the charity and include project management carrtcd out at Headquarters. Management and administration costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements. (l) Tangible Fixed Assets and Depreciation Tangible red assets costing more than £1,000 are capitalised and included at cost including any incidential expenses of acquisition. Depreciation is provided on all tall1¢ fixed assets at rates calculated to write off the cost on a straight line basis over their expected useful lives as follows- Plant and Equipment Fixtlll-es and Fittings Office Equipment 25 /0 PCT annum reducing balance. l O /0 per annum reducing balance. 25 % per annum reducing balance. (g) Investments Investtnents are stated at market value at the balance sheet date. The SOFA includes thc llet gains and losses arising on revaluations and disposals throughout the year. li
THE KDRMLsTER RAILWAY MUSEUM TRUST LIMITED A COhlPANY LIMITED BY GUARANTEE NOIES FORllNG PART OF THE FLWANCIAL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2024 CONTINUED (h) Stock Stock consists of purchased goods for resale. Stocks are valued at the lower of cost and net reaIisable value. Items donated for resale or th"siribution are not incIuded in the f1claI statements until they are sold or distributed. (i) Pension Costs The charity does not yet operate a contribution schemc for it's enwloyees. ti) Finance and Operatfing Leases RentaRs applicable to operating leases are charged to the SOFA over the period in which the cost is incurred. Assets purchased under fmance lease are capitalised as fixed assets. Obligations under such agreements are included in creditors. The difference between the capitalised cost and the total obligation under the lease represents the finance charges. Financc charges are Itten off to the SOFA over the period of the lease so as to produce a constant periodic rate of charge. (k) Foreign Currencies Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetsry assets and liabilities are retranslated at the rate of exclwige nlling at the balance shect date. All dtfferences are taken to the SOFA. 12
THE KIDDERMINSTER RAILWAY MUSEUM TRUST LIMITED A COIMPANry LIMITED BY GUARANTEE NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YLiR ENDED 31st DECENIBER 2024 CONTINUED Donations and Gifts 2024 2023 Individuals Charitable Foundations Bequest Donations received (non-restricted) Corporate Donors Gifts in Kind 2,520 7,226 1,000 1,916 3,520 9,142 LegyAcies The charity received during the year a bequest of £1,000 Merchandislng IDcome and Costs 2024 2023 Merchandising Income 93,277 81,359 Cost of Sales A(tministrative Expenses 27,627 37,446 24,854 30,499 MercIldis1llg Expenses 65,073 55,354 sUlUs 28,204 26,006 Investmeot Income 2024 2023 Interest Receivable Dlvidends Receivable from Equity Shares Dtvidends Receivable from Investtnents and Unit Trusts 993 623 993 623 13
THE KIDDERM[sTER RAILWAY MUSEUM TRUST LIMITED A COMPMW LIMITED BY GUARLNTEE NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR E7)ED 31st DECETrIBER 2024 CONTtNUED 6 Total Resources Expended OTHER OTHER STAFF DIRECT ALLOCATED TOTAL COSTS COSTS COSTS 2024 TOTAL 2023 Fund-raising Costs Merchandising Costs Inforniation and Education Support Costs Management and Administration 20.718 8,547 29,265 29,671 37,446 37,446 30,499 Total Resources Expended ?0,718 45.993 66,711 60,171 Other direct costs include: 2024 2023 Examiners Remuneration (including expenses and benefits in kind): Independent Examiners Fee Accountancy, Taxation and Other ServiGcs Operating Lease Rentals Depreciation - on Owned Assets Depreciation - on assets held on finance leases and hire purchase contracts Finance Lease Interest 3,720 4,083 2,283 2.445 6,003 6,528 7 Trustees Remuneration The trnstees neither received nor waivered any emoluments during the year (2023 £Nil). They also did not receive any out of pocket expenses. 8 Staff Costs 2024 2023 Wages and Salaries Social Security Costs Pension Costs 20,718 17,502 20,718 17,502 Therc were llo employees earning more than £60,000, and no staff received any emoluments that need to be defjned for taxation purposes. There were no full-time staff members during the year. The staff work on a part-time ad hoc basis. 14
THE KIDDERMThST£R RAILWAY MUSEUM TRUST LIMITED A COMPANY LIMITED BY GUARAYfEE NOTES FORMING PART OF THE FINANCIAL STATEIIIENTS FOR THE YEAR ENDED 31st DECEMBER 2024 CONTINUED Pension Costs There was no Pension Scheme operated by or on behalf of the clwity during the year. 10 Tangible Fixed Assets Plant & OlCe ui Land & Pro Fixtures & s Relics er rovments Total Cost as at I st January 2024 Additions Disposal Cost as at 31 st December 2024 31,761 991 51.729 85,133 155,705 324,328 9.091 10.082 (2,500) (2,500) 162,296 331,910 32,752 51,729 85,133 DepreciatLon as at I st January 2024 Charge for Year Depreciation as at 31 st Decembcr 2024 28.462 1,072 29.534 39,627 1,210 40,837 1,170 69,259 2,282 71,541 1,170 Net Book Value at 31 st Decernber 2024 3,218 10,892 85,133 161,126 260.369 Nct Book Value at 3 1st December 2023 3,299 12,102 85,133 154,535 255,068 I l Fixed Asset Investments The Charity had no fixed asset investments during the year. 12 Debtors 2024 2023 Trade Debtors Legacies Other Debtors Amount owed by Subsidiary Undertaking Prepayments and Other Accrued Income 8,000 500 6,188 8,500 6,188 15
THE KIDDERMINSTER RAILWAY MUSEUM TRUST LIMITED A COMPANY LIMITED BY GUARANfEE NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR EWDED 31st DECE.MBER 2024 CONTINUED 13 Creditors . Amounts Falling Due Withln One Year 2024 2023 Trade Creditors Taxation and Social Security Costs Othtt Creditors Obligations under Finance Leases Accruals and Defetted Income 748 5,088 5.887 5,887 3,720 10,355 3,600 14,575 14 Creditors . Amounts Falling Due After More Than One Year The Charity had no Creditor amounts outstanding duc after more than one ye. 15 Obligations Under Finance Leases The Charity had no Obligations under finance leases during the year. 16 Financial Commitments Th¢ Charity had no Financial con]mitinents during the y&qr. 17 Statement of Funds Investment Gains enditsre fftansfers Asat 0110112024 Ineome E A$at 31/1212024 Unrestricted Funds 296,437 81,757 (66,711) 311,483 Total Unrestrictsd Funds 296,437 81,757 (66,711) 311,483 lllvestment Gains Asat enditure ITransfers 3111212024 Asat 0110112024 Income Ei Restricted Funds 212,555 212.555 Total Restricted Funds 212,555 212,555 Total Funds 508,992 81,757 (66,711) 524,038 The Restricted Funds represent the estin]ated rnarkct value of exhibits over and above cost to the company, as well as a bequest receive(t 16
THE KIDDERMt¥STER IL4ILWAY MUSEUM TRUST LIMITED A cOIPANy LIMITED BY GUARANTEE NOTES FORMLVG PART OF THE FINANCIAL STATEMENTS FOR THE YEAR Eh])EJ) 31st DECEMBER 2024 18 Analysis of Group Net Assets Between Funds The Charity is not part of a Gmup and there fore Iw no group nct assets. 19 Subsidiary Company The Charity does not have any Subsidiary income. expenditure or funds. 20 Cash Flow Information for the Group As the Charity is not part of a Group a Group Cash Flow is not required. 17