REGISTERED COJllP.41NY N'bThrfBER: 02060988 (England and Wdles)
REGISTERED CHARtTI' yiflfBER: 518)16
RECEIVED
O I AUG 2025
rt of the Trust
Unaudited Financia] Statements for th Year Ended ?8 Febru
?025
CHASEWATER LIGHT RAILWAY & MUSEUM
Charity Commission
0 7 AUG 2025
Received
CHEADLES
Chanered Accountants
Telrgraph House
)9 Woli'erhaTnpton Road
Siafford
Stafford5hire
ST17 4AIV

CHASEWATER LI
Frr RAtLWAY & MU
COMPAN
Contents of ihe Financial Ststements
for the Year Ended 28 Febru
?0? j
Page
Report of the Trustee5
Indcpetsdent E%aminers Report
Statement of Financial AclivitlCS
Ba1￿ce Sh¢el
Cash Flow Siatemeni
Notes lo the Cash Flow Stat¢meni
Notes to the Financial Siaternents
9 to 17
Detailed Statement of Financial ActlVllie5
18 to 19

CHASEWATER LIGHT RAILWAY & MUSEUM
COMPANY
orl of the Trustees
he Year
nde
28 Feb
for
Thc trustces iyho are ￿50 dircctor5 of ihE charir). for the purposc5 of th¢ Comrdni¢5 A¢t 2006, p￿sent tjicir rcporr i¥'itli t11r financial
slaiements of the charity for the year ended ?8 Febrnary. 202). The trusrces have adopted thc provision5 of Accountiog and Reporting
by Charities.. Statement of R¢commended Practice applicable lo charities prewing theTr accounts iti accordancc with the Financial
Reporttng Stendard applicable in the UK and Republic of Ireland IFRS 102) (effectii'.c l January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives of Cha5ewater Light Rkiliyay & Museum Company iyritten in 1986 are as folloivs:
To promote and to ￿rther the educa(ion of the public in the hsstory of the railw and general tran5POrt heritage of tlie United
Kingdom. with spe¢ial r¢fereoce 10 industrial and light rdtliva)% and to the West Midlan(Ls b) thc creation and operation of
museums of all tvpes and, in ￿rtheranCe of thcse objects bul noi otheni'ise. by the creation and operation of rai11I7yS. tt'amivays OF
other forms of transport.
Significant activities
The activities of Cha5eivater Lighi Ratlivay & Musewn Company are to nm lieritagc industrtal steam and diesel passengej. services
Ihroughoul the year in ac¢ordance ivith the objeciives i￿lllen in 1986, and to proi'ide a museum containing artcfacts from the local
i'ailii'ays other asso¢iaied trdnsport systems io educate the public. The company also acquires nui, ttQ]ibits from the local arca
and holds regular special events ii,here various aspects of the "colliery linc" arc shown. The ¢ompany hold numerous events durin2
the year on top of the standard ruruTring servicrs which include the loca] comrnunity ar]d other charitable associaiions.
Public bLnefJt
All trustees are proN'ided iyith ihe guidan¢c issued bs. the ChaTity Commi55ion on public benefit. It is felt that ive confirn) io the
current gLiid8nce. this is coniioually under revieiv to ensure compliance.
Page I

CHASEWATER LIGTrfF RAILWAY & MUSEUM
Re
orl of thc Trustees
for the Y ar Ended 28 Febru
2)
STRA TEGIC REPORT
Financial positlon
For the year ended ?8th Feb ?): being esseniTallJ the 20?4 Se&son, overa]l financial ￿rfornJancc on the prei'ious vear has improved.
and li is hoped a trend of Continuing improvemeni itrill be cstablished: eart?T indications from the 202) season being Posltive. A
significant effort by the director5 in identifying and managin? costs and seeking io obiain better Nalu¢ has been Coupl￿ an increasing
revenue stream ￿.]th turnover rising above £500k for ihc time. Whilst ihis mFlesione is a great achievcmeni in itselt. it 15 a
testament to the hard ii'ork of all our i'olunteers and SEaff.
Overall net surplus has risen from £60k 10 £72K-. a good result in itself, hoiv¢ver li should be nO￿d that this is after 811011ing for a
ye￿. Ivhen iyc had beell abl¢ to make modtst progress iiith invesiing in improvlng our infr&%tructure and rcstoring our hisioric
v¢hicl£s. Post year end li'e have Started on 5i8nificant projects that have been on hold for some time. illcludsng repla¢ement of tlie
steam shed floor and u full refurbishment of th¢ building othenITr5e: and arc iitll inio projcct planning for remediaiioii i¥'orks to our
operational coaches.
Work to better catcgorise expenditure h&s made significant progress during the year ond this has enabled better infomialion to be
provided for members in Ihe derailed expenditure section of this report. Better allc*¢atiou of c05t elements to M￿.gInal train operating
Costs. and apportionment Speci￿ event and non-evcnt davs h&$ impacted margin5 in these ar￿. but thi5 iepiesents
bellcr a¢couniing rather than significantly rising underlying costs. Whilst margins have increased for tlie Tea Room. they have fallen
for Shop Sale5 durtng the reporting period: clearing old stock contributing lo iiith underls'ing costs remaining steady but
rcceipts falling. The r￿'ampIng ofour retail offering continucs and ive cxpe¢t (he sitsiation io change i¥ith initial improi'em¢nts being
seen post }'ear end.
Income from Memberships, Donations, and our Bric-￿Brac team have 91] increased. The reryestablishmenl and developmcnt of
partnerships Ivith organi5atlOlJ5 using our infrastrncture for training. testing, Olrerhaul and storage of rolling stock- has leveraged
incre￿ed revenue from our a55et basc ivhick helps 10 fi]nd our chariiable activitie5 running our heritage railii'ay and museum. Thi5
hus seeii Other Trading Activiti¢5 income rise signtfTcantly. iiithout a correspondino increasc in the relevani cost base.
Overall incojne increased by 170A on the Previous year. ii'ith overa]I cxpenditure incrc&sittg by 150A compared to the PlEViOUS year.
noting the comments above on infrastru¢ttire improvcments. ll.Trilsi income is eipected to coniinue lo groiv in the 2)126 year,
elpendilurc is expected to increase, but drivcn by the undertakinE of projects rdther than Significant rises in thc routiiie cost base or
fundraising activities costs.
We do not attempt to assign our entirc oi'erhead cost base to our trdding and investment income activitie5. As a 'railivay society,
running a ii'orking museum, t.or the publi¢ ben¢fit: Ivc maintatn our stations, tra¢L Siores and museunL and conserve our rolling
stock and museum collection as a primary purpos& Incom¢ generdting actiiyties support this purpose.
Heritagc &ssets ivere M'alued amd ihere I￿re some modest acquisitions and disposals: i¥rytli a sinall net increase of 2tt/0 in heritage
rolliEJg stock value. Th¢ museLim colleciion: iTrhich &n¢ludes some rolling s(ocLcontinues to be h¢ld at a zero va]ue in accordance
vith museum sector best practice.
Reserves polie).
We curr¢ntl)' have restricted ￿ndS {ring fenced monie5) of £30.100 for the IA)comoiive Asbe5to& £8,690 ftir the cosi of building
neiv C&Tiage shed, £9J4 for ihc cosi of Heritage CenÉTe roof repairs and £2.200 for Natroii. Gauge Railivay.
We have a Designated Reserve of £IO.000 for Financial Emcrgencies. There are no other forn]ally defined rescrves but all funds are
applied lo the rnainlenance, Tesloration and devclopmcnt of the rdilwa), and museum.
STRIICTIIRE, COVERh'ANCE NIANAGENIEI
Goveyning document
The charityr 15 controlled by its governing document, a Memordndum and Articles of Association which constitute it as a eompany
limitcd b5, guarantee and iiithout 5harc capital, as defined bv the Companies Act ?006.
Rcerllitment and appointment of trusttts
Trustces are appointed in accordance with the articlcs of ￿0cIatiOn. Trnstee recrnitment during the period of this report iv&8
undertakcn Bnd one new trustee appointed by the boariL to be pui fo the memtrrship at tl)e next AGM. Most trustees have
management roles as director5 of the compon}, in addition to their general responsibilities as charity trustees and to ivhich they are
appointed by th¢ i￿ard ii'kthin an overall stTueture agreed and published by chc board. Trusiee5 ar¢ sought b), the board to meet
necds. although members and others are ivelcome lo approach the board io offcr their services.
REFERENCE .41}￿ ADNItN'ISTRATIVE DETAIiS
Reuistered Company number
02060988 (England and Ivales)
Page ?

CHASETh.'ATER LJGiif RAILWAY
SEUM
ort of the Tn]stees
for the Year Ended 28 Feb
Registered Charity number
518516
Re%i5tered offit¢
Brownhills Ivesi Siation
Chaseivater Country Pai'k
Pool Lane, Broiiithills
Walsall
WS8 7NL
Trustees
M Fellow5 (resigned 12.7.24)
L Tuckcr
R Thompson (resigned 12.7.94)
J Coivan
J Vernon (resigned 12.7.?4)
S Westley
D Williams
A Mould (appointed i. 11.24)
Companv Secretary
A Hall
Independent Eyaminer
CHEADLES
Cliartei'ed Accountants
Telegraph House
59 Wolverhampton Road
Stsfford
Staffordshire
ST174AW
Report of the IrusteE& incoTporating a strarcgic reporL approved by order of the board of tru5te¢s: as the compan}, directors, on
l O June 2025 and Signed on the boards belialf by:
S We5tle),_ TTUStee

Inde
endent Examinerfs Re ort lo the Trust
Chaseivaier Liohi Rai[￿-a
& Mus¢um
om
esof
Independent examiner's report to tbe trustees of chase￿￿ter Light Railwa) & NIu5eum Company ('the Company,)
I report to the charity trustees on my ¢xamination of the accounts of the Company for the ycar ended 28 February 202).
R¢5ponsibllitie$ and basi5 ofreporl
As the charity s tnistee5 of the Compan!, (and also its dir¢¢tors for the purrM)ses of cornpany laiv) vou are resportsible for the
preparation of the accounts in accordan£c ivith the tequiremcnts of the Companies Act 2006 {'the 2006 Acl,).
Having satisfied mvsclf that the a¢counls of the Company a￿ noi rcqllired ts) be aud2ted under Part 16 of thc 2006 Act artd are
cligible for independent examinaiTon, I repon in respect of m). examination of )'our charl￿S accounts as wried out under Section
145 of th¢ Charitics Act 2011 I'the 2011 Aa,). In cani'ing out my ￿amInation I have folloii'¢d th¢ Direction5 given by the Charity
Commission under S¢ction 145{5) (b) of the 2011 Aci.
rndependent examiner'5 Statement
Since your charity's ￿'0s5 income eyceeded £2iO,000 your e%aminer must bc a member of a listed body. I can confimi that l am
qualified to undertaL"e rhc eyamination because l am a mernber of ihe Instituie of Chartcred Accountants ii? England and Wales,
ithich is one of the listed bodies.
I have completed my examination. I confimi that no matters have come to nTh' attention in conne¢tion with the exan]ination giving me
Cause to believe-
accounting rccords ivere not kept in rcspect of the Con1p￿lY as required by Section 386 of th¢ 2006 Aet" or
the aceounis do not accord ivith thosc records. or
the accolints do not ¢ompl)' wilh ihe accounting requirements of Se¢tion 396 of the 2006 Act other than an), r¢quii'emenl that
the accounts give a true and fair vieii. Ivhich is noi a matter ￿nsIdered a5 part of an independeni examillaiion- or
the accounts have not been prepared in accordance with the method5 and principles of th¢ Stèlement of Recommended
Prdciice for accounling and Teporting b). Charities lapplicable to charities preparing iheir accounts in accordance ii'ith tlie
Financia] Reporting Standard applicable in the UK Republic of Ireland (FRS 102)).
I have no concerns arftd have come across no other matters in connection ￿lIh the examination lo i%,hich artention Should be dtawn in
this report in ordcr to enable a proper understanding of the accounts lo ￿ reachcd.
Cheadles Accountants
Thc Institute ofcharter¢d Accountants in England and Wales
CHEADLES
Chartered Accountants
releEraph Housc
59 Wolverhampton Road
StsffDrd
Staffordsliire
ST17 4AW
1&gLthE £)l5
Page 4

CHASEIIYATER LIGHT RAtL WAY & MUSEUM
Statement ot Financial Activities
for thc Year Ended 28 Febr
Unrestricted
fund
Restricted
fiJnd5
29.2.24
Total
funds
Total
ds
INCOME AND E￿￿)0}I'1￿EN'Ts FROTrI
Donalions and legaci¢s
N0*5
14.606
99
14,765
9,567
Charitoble activitie5
Charitable activities
449.849
449,849
402,080
Other trading athii'ities
tnvesttnent Kncome
22,014
iO,962
2,708
29.960
30.962
Total
517.491
99
517,590
E￿ENDJT[FRE ON.
Charitable aetivitits
Charitable activities
443.467
44i,467
J84.128
Otli¢r
?41
241
Total
44i.708
44i.708
384.128
NET INCOME
Other recoEni5ed gain5111095es)
Gainsl(losses) on reValu￿10n of fixed &ssets
71,882
60,187
10,500
10,500
(44.340)
Net movement in funds
82,283
99
82,382
15,847
RECONCILIA TION OF FifNDS
Total funds brought fonvdrd
125i.733
41.82)
2.?95,558
2.279,711
TOTAL Fu￿1)s CARiUED FORWARD
.Ji6.016
41.924
2.377,940
7 29 j.558
The nofrs form pary ofthese tinancial Siatements
Page 5

CHASEWATER LIGFFf RAILWAY &
SEUM
Balance Sliect
28 Febi
25
Unrestrict¢d
nd
28.2.2)
Total
Restricied
fitnd5
29.2.24
Tolal
FIXED ASSETS
Tangible as5eis
Heritage ￿Sets
Notes
12
1,7iO.786
400.400
1.750,786
400.400
1.752.008
391.400
2.151,186
1151,186
2:14i,408
CURRENT ASSETS
Stocks
Debtors
Cash ai bank and in hand
14
24.417
24.417
8.390
229.642
27.995
187.718
41.924
136.049
220,52)
41.924
262,449
179,i77
CREDtTORS
Amountb failing due ivithin one year
16
(ii:69i)
(3i.695)
(27.427)
ET CURRENT ASSETS
184,830
41.924
226,754
152,150
TOTAL ASSETS LESS CURREWt L TABILITIES
2.3J6.016
41,924
2,377.940
9,295.558
NET ASSETS
JJ6,016
41,924
2,377,940
2,295,558
FLINDS
Unresiricted funds
Restricted tunds
17
2.336.016
41,924
2.253.733
41,825
TOTAL F￿Tr￿S
2,377,940
2,295.3i8
The charitable Company is entitled lo exemption from audii und¢r Seclion 477 of the Compa￿leS Act 2006 for Ilie year elided
28 Februarv ?02).
The members have noi required the ¢ompany to obfain an audit of its financi81 Stalen￿nts for the vear ended 28 February 20?) in
accord8nce ivith Seciion 476 of the Companies Act 2006.
The Irustees acknoivledge their responsibilities lor
(a)
ensuring ihat the cliarilable compaT]y k¢eps accounting records that complywith Sections 386 and 387 of the Companies Act
2006 and
preparing financial statements ivhich give a true and fair vieiv of thc sialc of affairs of the charitable eompar])' as at the end of
each financiat year and of its Surp1￿ or deficit for each financial Ye￿ in accordance ii'ith the requiremcnts of Sections 394
and J9) and ivhich othenvise comply ivith ihe requiremcnts of the Cornpanies Aci 2006 rclaÉing io fiiiancial Statements, so
far as applicable to the charitabl¢ company.
(b)
The financial statements I￿re approved by the Board of Trnstees and authorised for issue on 10 June 202) and iierc signed oli its
belidf bv..
S Wesil¢y- Triistee
The notes torni part of these financial SE&ements
Page 6

ASEWATER LIGHf RAtLWA Y & MUSEUM
Cash Floiv Statement
for the Ycar Ended 28 Fe
?8.2.25
29.2.?4
Cash flDWS from operating activities
Ca511 generated Irom 0￿rationS
99.373
23.402
Net ¢as1I provÉded by op¢rating activilies
99.373
Cash floivs from investing actiiities
Pllr¢h￿e of iangiblc fLied assct5
Sale of lieriiage assets
Interesi rec¢ived
(9.070)
(1,230)
1,981
920
Net cash used in investing activities
(i.780)
(310)
Change in eash and c&5h equivalents in the
reporting peyiod
Cash and cash cquivalents at the beginning of
the reportTrng period
93,593
23,092
li6.049
112,9)7
Cash and cash equivalcnts at the cnd of rhe
reporting period
229.642
136.049
The notes forni part of these financiat s￿efflents
Page 7

CHASEWATER LIGFrr RAfLWAY & hWSEUM
Notes 10 thc Cash Flo1￿ Statement
for the Year Ende
28 Febru
RECONCILIATtOiY OF NET Th'COIIIE TO CASH FLOIV FRO￿[ OPERAM'G ACTINTTIES
28.2.2)
29.2.24
Iyet income for the reporting period (a5 per the Statement of Finaneial
Actii'ities)
Adjustment5 for:
Deprcciation charges
Loss on disposal ot-fixed assets
Interest received
Rounding
Decreasellincrease) in Stocks
D¥crease/iincrea5e) in d¢btors
Incteaselldecrease) in creditors
71,882
60.187
10,240
241
11,981)
9.462
?02
(920)
3.)78
7,143
8.268
(393)
(14.754)
(JO.381)
Net cash provided by operations
AP*'ALYSIS OF CHANGES IN FUNDS
Ai l.J.24
Cash floii,
At28.2.25
Net cash
Cash at bank and in hand
136.049
93,593
2?9,642
93.)93
??9,642
Total
lJ6,049
229.642
The notes fomi part of these financiat statements
Page 8

HASEW'ATER LIGFtr RAtLWAY & MUSE
Notes lo the Financial Siatements
for the Y¢ar Ended 28 Fe
?0?5
ACCOUNTING POLJCIES
Basi5 of preparing the financial statements
The financial Slatements of ihe ¢ltariiable companv. iTrhich is a public benefii enlit)T under FRS 102, liave been prep￿ed in
accordance with tlie Charities SORP IFRS 102) Accounting and Reporttng b!, Charili¢s.- Statemciit of Recommended
Practice appli¢able to ¢haritie5 preparing their accounts in accordance ivith the Financial Rewtrrting Standa]'d applicable in
the UK and Republic of Irel(wd IFRS 102) {effective l Januar¥, ?019)', Flnancial Reporting Sialldard 102 'The Financial
ReFOrting Standard applicable in the UK and Republic of Ireland, at]d the Companies Aci 2006. The fJnan¢ial slalcmentS
have been prepared Lmder the historical cost convention. as modified b}, the revaluation of ¢crtain assets.
Income
All income 15 recognised in the Siatemcni of Financial Activities once ihe charity has enlitlemcni 10 ihc filnds, it is probabl¢
that the income H'ill be received and the atnount cats be measured reliably.
Eypenditure
Liabilities are recognised as expenditure as soon as there is a legal or constn￿tiVC obligation committing the charity to that
expcnditure. it is probable ihat a Iransfer of ¢conornic benefits ivrll IK required in scttlenient aiid the amount of the obligation
can be measured reli8bl)'. Expenditure is accounted for on an accruals basis and l)as been Classifi￿ under headings thai
aggregate all cost related to the category. Wher costs cannot be directly attributed to Particular h¢adings they liave been
afiocated to activities on a basis consiS￿￿t i%ith the use of resources.
Tangible fixed asset5
Depreciation is provided ai the follo1￿ing annual rnes in order to WTits off each asset over its esiiTnat¢d uscful life.
Jmprovements to property
Plant and machinery
Fiitures and fittings
Compuier equtpment
20 /0 on cost and l OYD on cost
?jV/o on COSL IOY4 on cost and noi provided
2 ji/lD Oti cost
2jQ/o on reducing balan
Stocks
Stock5 valucd ur the I0￿￿r of co* and nct rcaii5ablE valuc. aftcr making due a110ii7ncc for obsolete and slow moving
item5.
The Trn5tees revieii. stock held at the bdance sheet date to ensure thac only those 8￿)[l$ deemcd fil for future use or sale are
included.
Taxation
The charity is exempt from corpordtion tax on its charitable a¢iivities.
Fund accovnting
Unrestricted funds can b¢ used in accordance with the charitablc objeclivcs at ihe discretion of the tn￿te¢s.
Restricted tiinds can only be used for particular r¢5tri¢ted purposes iirythin the objects of the charit).. Restrictions arise ivhe
specified by the donor or ivhen funds are raised for particular restricted putposes.
Further eXpl￿ation ol'the uature and purpose of each fund is included in the notes to thc financiai 5taternents.
DOYA TIONS A￿'D LEGACIES
28.2.25
29.2.24
Donations
Grants
14.76)
9,05
517
14.765
9,567
Grants receive& included in the abov& are as folloiy5:
29.2.24
Museum Grant fi]nd
517
Page 9
continued...

CHASEWATER LIGHT RAILWAY & ltrfUSEUM
Notes to Ilie Fin4￿Cial Statements - continued
for the Year Ended 28 Feb
OTHER TRADtNG.4CTtIlTIES
28.2.25
29.2.24
Subscriptions from MeTnber5
Provision of facilities
Rolling siock storage
Infrastructure ac¢css
3,794
5.07)
1.840
2,708
22,014
2.708
INVESTIMEfyT INCOME
28.2.25
29.2.24
Propety related receipts
Deposit account intercst
28.981
1,981
29,040
9?0
30.962
tNCOME FROM CHARITABLE ACTIVITIES
28.2.25
Charitable
ac(ivilies
29.2.24
Total
activitieb
Train Operating Income
Shop Income
Special Events Income
Tea TOOtr] Sales
Bri¢ a Brac
40,001
?2,204
117,602
264,814
5.228
32,142
91.078
4.622
449,849
402.080
Grants rcceived: included in the above. are as follows."
28.2.23
CHARIT.4BLE AcfiviTIES COSTS
Support
costs (see
note 7)
Direct
Costs
Totals
Charitable activities
399.988
45.479
445.467
Pagc 10
coniinued...

CHASETh.'ATER LIGFrr RAtLWAY
COhlPANY
SE
Notes to tlie Financial Staiernents - con(intsed
f rtheye
ed 28 Febru
2)
StIPPORT COSTS
Management
costs
Tolats
Charitablc acliviiies
10.?40
35,239
42,479
T INCOTrI IEIIEXPEN'DITURE)
Net incom¢l{eipenditurel is staled after chargingl(crediting)-.
28.7.25
29.2.?4
Depreciation - oivned assets
Deficit on disposal of fJx¢d assets
Aecountants f¢es
Payroll & book keeping fec5
10,242
241
5,120
4.019
9,461
202
4,400
TRIISTEES, REIIIUNERATION.4P4D BENEFITS
There iyere no irustees, remuneration or other benefits for the year ended 28 February 20?5 nor for the year ejpded
29 F¢brL18n, ?024.
Trustees, expenses
The follomryng expenses were reimbursed to trtislees during the year:
£218 {2024.. £Nil)- Advcrt15ing & Marketing
£46 {2024.. £Nil)- General Expcnses
£26612024.. £1.709)- Loco Mainl¢nan¢e
£Nil {2024.. £Nil)- Track & Siation Repairs
£5612024.. £Nil) - Office Equipment
£498 (20?4.. £254)- P05tag< fiEight & Courier
£303 {2024.. £8561- Repairs
£Nil {2024- £?:422) - Speciat Events eypenditurc
£Nil (2024.. £6i)- Tea Room Purcliases
£9i120?4: £Nil)- Shop Purchases
£J4 (?024= £1181)- Subscriptions
£Nil (2024= £1)) - Professional fees
£278 (2024.. £Nil)- Workshop Consurnables
i Trugiees12024.. 91 IveTe reitnbursed during the year.
STAFF COSTS
io.
S￿arles and Wages - £126.390 12024= £109.506)
The average monthly number of employces during the year as follo1￿.
Tea room
Shop
Admin & Facilities
28.2.?5
15
29.2.24
io
19
13
No employees received cmoluments in exce&s of £60,000.
Pagcll
continued...

CHASEWAIER LIGHT RAILWAY & MUSEUM
Notes 10 the Financial Statements- continued
foi. the Year Ended 28 Fcbr
?0?5
ij.
coNtPAIL4TIVES FOR THE STATEMEN'T OF FIN'ANCIAL ACTivfTtES
tinre51ricied
nd
Rr5Iric￿d
funds
Total
funds
TN'COME.4ND ENDOIMNIEf*TS FROM
Donaiions atjd legacies
7.367
9.)67
Charitable activities
Charitable activities
402,080
402,080
Other trading activities
Investm¢nt income
2.708
29,960
2.7()8
29.960
Total
442.115
2.200
444,31 i
EXPEYDITURE O,N
c.haritable 3£tivities
Charitable activities
384.128
J84.128
I*IT LNCO.ME
Other recognlsed gainsl{105ses)
Gainslllosscs) ou revaluation of fixed &%sets
i7.987
60.187
(44.340)
(44:J40)
Net movement in funds
13,647
?,200
li.847
RECOh'CILJA TIOY OF EUNDS
Total ￿ndS broughi fonvard
2,240.086
39,625
1279.711
TOTAL FuN￿s CARIUED FORWARD
? 253.733
41.825
2,29i.i58
Figures stated &re for the year cnding 28 Febnw)p ?024.
TANGIBLE FLXED.4SSETS
12.
Improi'ernertls
Short
le&sehold
Plant and
achinery
prop¢ty
COST
At l March 20?4
Addihons
l.J70.000
46.313
427,838
9,020
Ai 28 Fcbruary 202)
l.J70.000
436.858
DEPRECIA TIOIY
At l MaJch ?0?4
Charge lor year
28,286
4,022
6),339
3.849
At 28 February 2025
3?.308
71,188
T BOOK ITALUE
At 28 February ?025
lu70,000
14.005
365,670
At 29 February 2024
l.i70.000
18.027
362,499
Page l?
¢ontinued...

HASEW ATER LIGFrr RAILWAY & MU
COMPAN
Notes to the FinanciAI Statements- continued
for ihe Year Ende
28 Febru
?025
12.
TknNGIBLE FLiED ASSETS- continued
Fixtu￿S
and
fitting5
Cornpuler
equipment
Tota15
COST
At l Mar¢h ?024
Addiiions
20,043
4,679
1.868.873
9,020
Ai 28 February ?02)
20.043
4.679
1,877.893
DEPRECI.4TION
At l March 2024
Charge for ye8r
20,043
3,197
116.865
10,242
At 28 February ?025
20.043
3,568
127,107
IYET BOO1% I'ALUE
At 28 FebTuary 202)
1,7iO,786
At 29 FebnJ8ry 2024
1.482
1.752,008
Plant and Machinery includes track and signalling &5 siEThficant ii¢ms bi, value.
HERIT.4GE ASSETS
13.
Total
IWIARKET VALISE
At l March 2024
Disp05a15
Revaluarions
i91.400
(1,500)
10,500
At 28 Fcbnjary 202)
400.400
NET BOOK VALbE'
At 28 February ?02)
400.400
At 29 February ?024
391.400
Tlie l)eritage a5S¢ts locomotive, Carriages and Wagons havc becn revalued b), the trustees at 29th February ?025 at
realisable market ￿'alUe. There is an estsblished mark-ei in these heritage assets and i'alualions are based on this rnark"et. Due
lo the rare nature of these assets il ii'ould be misleading io value them on a hi5torica] co& basi5.
The Locomotiv¢, Carriages and Wagons not part of the Mu5eutn Collection, had an original vaIualion of £46.38) on
3111211987 folloi¥ing donation by Chaseivat¢r Light Railii-ay Socier), in 1986. The}, have 5ubsequencly beeii rei'aiued on a
nLunber ot'occasions: and Ih¢r¢ have becn significani additions and disrrf)5als.
The heritage assets 'Museum Collection, had an ortgina] valuation of £20:000 on Jl/l J? 1987 following donation b).
Ch&s¢ii'ater Light Ratlii'ay Society in 1986.There ills one addilion of £3.000 and they had a value of £23.000 011
281021?02). They hatre been revalued by the trusiees at 29th February, 20?) at £0 in accordance with the revised
capiiatisation policy adopted in respect of thesc &sscts.
Page 13
continued...

CHASEWA TER LfGEif RAILWAY
SEUM
Noies to thc Financial Statements- continued
for the Year Ende
28 Febr
13.
HERIT.4GE ASSETS- continued
Cost or valuation at 28 Februarv 202) is r¢prescnted by:
Locomotives,
Carriage5
Wagons
not part
of the
Museum
ollcaion
Museum
Collection
TotA15
Valtsation in 2012
VduaiioTr in 20?3
Valuation in )024
Valiiaiion in ?025
90,000
289.2tH)
12,?00
9,000
20,000
3,000
(23,000)
110,000
292.?00
(10,800)
9.000
400,400
400,400
Folloiving the re-naming and recla55ifIcation of the heritsge asseis in 2024 the above figutEs iYer¢ changed from prior year5
to accurately refleffl the neil- classification.
Valuation in 2012 15 at 291021201?
Valuation in 2023 is nel change in value up to 2810J7 2023.
Valuation in ?024 is Increase/{Decrease) valu¢ in ycar end 291021?0?4.
Valuation in 2025 15 IncreaselO)¢creascl in i'mlue in year end 291021202).
STOCKS
14.
28.2.2)
29.2.24
Stocks
24,417
?7,995
15.
DEBTORS: A.Niouwrs FALLt¥G DUE II'ITHIN YE.4R
28.2.2)
29.2.24
Trade debtors
VAT
Prepayments
8,065
3.792
11,416
325
Page 14
continued...

CHASEJAIATER LIGHT RATLWAY & MUSEUM
COIMPAN
Noies to the Financial Statements- continued
for the Year Ended 28 Feb
?02
16.
CREDITORS: .4￿[O[lNTs FALLIliG DLTE WITHLV ￿E4R
28.2.2)
29.2.?4
Trade Creditors
Social security and other taxes
Pcnsions payable
VAT
Othcr creditors
ACc￿ed expenses
4,313
1,408
309
5.996
8,994
14.67)
i,44)
i59
?49
8,448
12.726
35,69)
27.427
17.
MO1￿ME1Yr IN FI1%￿s
Net
movement
in tiin(ts
At
At 1.3.24
tinre5tricted funds
Genera] fund
2.253.733
2.336.016
Re5tritted fund5
A5besios
CarriaEe Shed
Rool. repair
Narroiv Gauge Railway
30,001
8.690
934
2,200
99
30,100
8.690
934
2.200
41.825
99
41,924
TOTAL FIWDS
2.295,5i8
82.382
2.J77,940
N¢t movcment in fynds, included in the aboi'e are as folloivs=
Incoffiing
resourccs
Resources
c¥pended
Gains and
losses
Movement
in funds
Ilnrt5tricted funds
Gcneral fund
517,491
(445,708)
10,iOO
Rutrieled funds
Ask5tos
99
99
TOTAL FUNDS
i17.i90
1445,708)
10.500
Page li
continucd...

CHASEWATER LT
Nolcs to the Financial Statements - continucd
f r thc Year Ended 28 Fcb
20?
17.
01￿MElYT IN FLFNDS - contÈnued
Comparatii'es for movement in fund5
Nel
moi'emerjt
in funds
At
29.2.24
At 1.3.2J
1snre5tricted funds
General fund
2.240,086
13,647
2,2iJ.733
Restricted fund5
Asbestos
Carr&agc Shed
Roof repair
Narn)ii, Gauge Railwa).
8.690
934
30,001
8.690
934
2.200
39,62)
2200
41.82)
TOT.4L Fu￿￿s
2279,711
15,847
2,?9 j.558
Compw'ativc nel Tnovement in tijnds, included in the above are as follffiv5:
Incoming
resources
Resoure¢s
e.Ipended
Gains and
losses
Movemcnt
in fvnds
Unrestricted funds
General thnd
442.115
{i84.128)
144,340)
li.647
Restricted fund5
Narroiv Gauge Rallivay
2.200
2,200
TOTAL FIJNDS
444,315
(i84,1 ?8)
{44,340)
l i,847
A current year 12 months and prior year 12 monihs combincd position is as folloiis:
Net
Jnov¢ment
in funds
At
28.2.25
At 1.3.2)
Unrestritted funds
General fvnd
2.240,086
95,930
2.336,016
Re5trictcd funds
AsbE5tos
Carriage Shed
Roof'repair
Narroiv Gauge Railiydy
30.001
8.690
934
99
30.100
8.690
934
2.200
2.200
2,299
41.924
TOTAL FuN￿s
2.279.711
98.229
2.377.940
Page 16
continued...

CHASE￿,ATER LIGTrrr RAtLWAY
Notes lo tlie Financial Statements- continued
for the Year Ende
28 Febi'u
17.
MOVEIMEJYt IN FLINDS- continued
A curr¢nt )'ear 12 months prior vear 12 Jnonths combined net movefftent in ￿lld5, included in thc above are as folloivs-
Tncoming
resour¢c5
Resources
expcnded
Gaiiis aiid
losses
Movcment
in tunds
Unrestrif ted fund5
General fund
9)9,606
(829.8J6)
133.840)
95,930
Restricted funds
Asbestos
Narroiy Gauge Railivay
2.200
99
2.200
2,299
2.299
TOTAL FUNDS
961,905
(829.836)
133,8401
98,229
18.
RLLA TED PARTI, DISCLOSLtRES
There ivere no related paty transactions for the year ended 28 February 202?.
RESTRtCTED FUNDS
19.
The following reslricied funds are in place during the NEar:
Funds raised for the enginc Asbestos. This money ts to used on the upkeep of this engine only.
£)O:100 of this fimd is still in place at the year end.
At the year cnd the amount is held in the savings accounL
Donaiions I'eceiip
cd for the cost of building a a￿V carriage shed.
£8.690 of this fimd 15 Still in place at thc vear entl
At the year end the amount is held in thc sai'ings account.
Donaiions receii'ed for the cost of roof repatr.
£934 of this fvnd is still in place at the year end.
At the vear end the anlount is held in the savinDs account.
Donations rec¢ived for the narroiv gauge rdilivay.
£2,?00 of this fund is Still in placc at ihc year end.
Ai the year end the arnount is held in the savings account.
DETAILED STA TEMENf OF Fth'AtNCL4L AcfivtiTs
20.
A detailed statement of incom¢ and expcnditure ts prepared and made available lo members on folloiiqng pag¢s. Hoiyever.
not being part of slatlltory financial staternen￿ they arc not included in public filings as a matter of Company rX)ll￿ wid
commercial confidentiatiti,.
Noies to expenditure for vear end 28 Februar). ?0? j:
Locomotive maintenance includes £22,237 for fvel {coal and diesel).. Rcpairs £16:966 and transportstioij of loconioliiies
£2,790 which togeihei. with Stock- moi'ement (fuel) of (£7il) and hire of lo¢omotiTres £4,692 are used to repr¢5ent margina
Trdin iunning cost at £45:792 for yle 2812Q025.
Repails and General maint¢nancc include Track & Station repairs £193, Workshop consumable5 £11,0 li: Cleaning £i,615,
Repairs & Maintenance £72.661, Securitir costs £IO:)?4. General eypenses (pesi control. first aid & minor items) £9.826.
Aspect £2,920 le55 the disposal of unrequiled building m&eria15 (£1:708) for y/e 281212025.
Page 17

CHASEW'ATER LIGFrr RAILWAY & MUSEUM
Detailed Statement of FinatTrcial Aciivities
or
he Year Ettded 28 February ?0? j
28.2.2)
29.2.24
INCOIME AIND E￿￿)0￿vMENTs
Donations and legacies
Donation5
Grants
14,765
9.050
i17
14,765
9.567
Other trading activities
Subscriptions from Membe
Provision of fa¢ilities
Rolling stock" storage
Infrastruciure access
3.794
i,075
1.840
11,305
2,708
22,014
2,708
Investment ineome
Property related r¢ceip
Deposit account interest
?8.981
1,981
29.(MO
920
30,962
29,960
Charitable activitie5
Train Operatino Income
Shop Income
Special Events Income
Tea room sales
Bric a Brdc
40,001
22,204
117.602
?64,814
i.228
43.776
91.078
2JO.462
4.622
449,849
402,080
Tot41 inctsmiJTrg resources
i17,590
E￿ENDIT1FRK
Charitable 4ctivitie5
Rates and ii'ater
Insurance
Electricity
Repair5 & General maintenance
SubscrEptions
Telephone
Sundries
Shop Eypenditure
Special Ev¢nts E¥penditur¢
Tca Room Expendiwre
Stock movem¢nt- Fuel
Loco Maintenance
Publicity advertising
PlanÉ hire
Tea room ivages
Pension
Carried fonward
3,921
14.459
15,327
32,784
00.748
4.488
5.276
1.336
12,690
26.080
78,041
(7il)
41.993
3,708
9)6
12.442
18.934
74.852
(2.8041
120
2.8iO
4.692
96,799
1,725
384.755
1.279
This page docs not fomi part of the staluiot). financial Siatements
Page 18

CHASEW ATER LIGHT RAILWAY & MUSEUM
Detailed Statement of Fillaneial Activilics
foi. th Year En
d 28 Febru
28.2.2)
29.2.24
Charitable actii-it1¢5
Brought foni'ard
Shop ivages
Stock movement - Shop
Stock movement - Tea room
Train VA T adjusimcnt
384,755
10.904
4.157
172
JJ8,696
10.488
3,081
(670)
(14.769)
399.988
336.826
Other
L05s on sale of h¢ritag¢
241
Support costs
Ianagement
ImproveEnents to pmpety
Plant and machinery
Computcr equipment
Loss on sale of tartgible fixed assets
4.021
5.849
370
4.021
4.947
494
202
10.?40
9,664
Govcrnanct costs
Accountancy f¢cs
Administrative expenses
Bank charges
Admin & Fftciliiie5 w'aEes
9.139
3.746
3.225
19,629
4,400
6.818
16,lOtI
37,638
Total rc50urc¢s expcnded
44i.708
J84,128
Net incom¢
71,882
60.187
This pt]gc does not forni part of the statutory financial sthteinents
PaEC 19