Registered number. 01920215
Charity number.. 519832
THE LINCOLNSHIRE STEAM AND VINTAGE RALLY LIMITED
(A company limlted by guarantee)
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

THE LINCOLNSHIRE STEAM AND VINTAGE RALLY LIMITED
(A company Ilmlted by guarantee)
CONTENTS
Page
Raferencè and admlnlstrativ• details of the charlty• Its trustees and advl8•r8
Trust••8' report
Ind•p•nd•nt examlner's report
stst•m•nt of flnanclal actlvltl•s
Balance shaot
Notes to the flnanclal 8tatem•nts
9-16

THE LINCOLNSHIRE STEAM AND VINTAGE RALLY LIMITED
(A company lirnited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY, ITS TRUSTEES AND
ADVISERS
FOR THE YEAR ENDED 31 MARCH 2024
Trustees
D G Macdonald, Chalrman
HECury
G Dawson
L Walker
Company rng1s1er￿ number
01920215
Charlty rogistered number
519832
R•glstered offlc•
21 Linden Walk, Louth, Linc8, LN119HT
Company 8¢crotary
Mrs S Macdonald
Accountants
Streets LLP. Tower House, Lucy Tower Street. Lincoln, LN11 XW
Page 1

THE LINCOLNSHIRE STEAM AND VINTAGE RALLY LIMITED
(A company Ilmlted by guarantse)
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The Trustees present their annual report together with the financial statements for the 1 April 2023 10 31 March
2024. The Trustees confirm that the Annual Report and financial statem8nts of the company comply wilh the
current statutory requirements. the requirements of the company's governing document and the provisions of the
Statement of Recornmended Practice {SORP). applicable to charities preparing their accounts in accordance
with the Financial Reporting Standard appllcable in the UK and Republic of Ireland IFRS 102).
Since Ihe charitable company qualifies as small under section 383, the strategic report required of medium and
large companles under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 Is
not required.
Objectlves and A¢tlvltles
. POLICIES AND OBJECTIVES
The princlpal objective of the company is to educate the general public and to increase their knowfedge,
understanding and appreciation of all types of steam and vintage englne5.
b. ACTIVITIES FOR ACHIEVING OBJECTIVES
The company held an annual steam 8nd vintage engine show to attract and educate the general public.
c. VOLUNTEERS
The charitable company did not rely on unpaid volunleers other than the time contributed by the trustees in
organising the show.
Achievementx and performanc•
. KEY FINANCIAL PERFORMANCE INDICATORS
The main performance indicator for the trustees was to malntain the necessary working capital to meet its
charitable objectives. The company accounts show net assets of £323,478 (2023 £331,817) which the trustees
consKlered satlsfactory to achieve this objective.
b. REVIEW OF ACTIVITIES
During the year Ihe company wa5 able lo hold its final annual show. The show was well altended by the public
and the trustee5 believe that the charitable company achieved its objects'ves in this way and were pleesed by the
amount of interest shown in the exhibits.
FinanGial review
. GOING CONCERN
The trust885 have decided to wind up the charitsble company and the accounts have been prepared on the
cessation basis.
Page 2

THE LINCOLNSHIRE STEAM AND VINTAGE RALLY LIMITED
(A company Ilmlted by guarantee)
TRUSTEES. REPORT (continued)
FOR THE YEAR ENDED 31 MARCH 2024
b. RESERVES POLICY
The trustees maintained sufficlent res8rves to provkle the working capital lo fund it's annual show and rneet it's
charitable objectives.
c. PRINCIPAL FUNDING
The principal funding for the charity came from the variou5 sources of Income generated by its annual show.
Structure, gov•rnanc• and managemenl
. CONSTITUTION
The charitable company 15 registered as a charitable company limited by guarantee and was Sel up by a Trust
deed on 17 May 1988.
b. METHOO OF APPOINTMENT OR ELECTION OF TRUSTEES
The management of the charllable company is the ￿SPOnsIbl111Y of the directors who are elected and co-opted
under the temis of the Trust deed.
The director who retires by rolalion 15 Mr G Daw50n, who. being eligible, offers hlmself for reweleclion.
c. POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES
New trustees are made aware of their responsibilities for the affairs of the charity. All trustees are made aware of
the updates sent out by the charity commission.
d. ORGANISATIONAL STRUCTURE AND DECISION MAKING
The charitable company is controlled and decisions made by its trustees who are also directors of the company.
e. RISK MANAGEMENT
The directors have assessed the major risks to which the ¢h8rltable company is exposed, in particular those
related to the operations and finances of the charitable company. and are sat15fied thal systems and procedures
are in place to mitigate our exposure to Ihe major risks.
Plans for future periods
a. FUTURE DEVELOPMENTS
The charitable company did not hold its annual show in 2024 and the decision has now been reached to wind up
the charitable company and distribute the assets in line with rts charitable objectives.
Page 3

THE LINCOLNSHIRE STEAM ANO VINTAGE RALLY LIMITED
(A company Ilmited by guarantee)
TRUSTEES, REPORT (continued)
FOR THE YEAR ENDED 31 MARCH 2024
TRUSTEES. RESPONSIBILITIES STATEMENT
The Trustees (who are also directors of The Lincolnshire Steam and Vinlage Rally Limited for the purposes of
company law) are ￿SpOnsIble for P￿parIng the Trustees, report and the financial statements in accordance wilh
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Practice).
Company law requires the Trustees to prepare financial slalemenls for each financial year. Under ¢ompany18W
the Trustees musl not approve ihe financial statements unless they are satisfied that th8y give a true and fair
view of the slat8 of affairs of the charitable company and of the incoming resources and application of resourcés,
indudlng the Income and èxpenditure, of the charitable company for that period. In preparing ihese financial
slalemenls. the Truslees are required lo..
select suitable accounting policies and then apply them consistently-
obseNe the methods and principles in the Charities SORP:
make judgments and accounting estlmates that are reasonable and prudent,.
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
charitable company will continue in operation.
The Trustees are responsible for keepin9 adequate accounting records that are sufficlent to show and explain
the charitable companys transactions and disclose wlth reasonable accuracy at any lime the financial position of
the charitable company and enable them to ensure that the financial statements compty with the Companies Act
2006. They are also responslble for safeguarding the assets of the charitable company and hence for laking
reasonable steps for the prevention and detection of fraud and other irregularities.
This report was approved by the Trustees, on 3 December 2024 and signed on Iheir behalf by.,
D G Macdonald - Trust••
Page 4

THE LINCOLNSHIRE STEAM AND VINTAGE RALLY LIMITED
(A company limltad by guarantee)
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 MARCH 2024
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE LINCOLNSHIRE STEAM AND
VINTAGE RALLY LIMITED (the 'charitabl• company.)
I report to the charity Trustees on My examination of the accounts of the charitable company for the year ended
31 March 2024.
This report is made solely lo the charitable companrfs Trustees. as a body, in accordance with Part 4 of the
Charities (Accounls and Reports) Regulations 2008. My work has been undertaken 50 that I might slale lo the
charitable companls Trustees those malters l am required to state lo them in an Independent examiner's report
and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility lo
anyone other than the charitable Company and the charitable companvs Trusle8s as a body. for my work or for
this report.
RESPONSIBILITIES AND BASIS OF REPORT
As the Trustees of the charitable company (and its directors for the purposes of company law) YDU are
responsible for the preparation of the accounts in accordance with the requlrements of the Companies Act 2006
{'the 2006 Act,).
Havlng sallsfied myself that the accounts of the charltable company are not required to be audited under Part 16
of the 2006 Act and are eligible for independent examination, I report in respecl of my examlnation of the
ch8rilable company's accounts Carried out under section 145 of Ihe Charities Act 2011 I'lhe 2011 Act.). In
carrying out my examination I have followed the Directions given by the Charily Commlssion under sectlon
14451(b) of the 2011 Act.
INDEPENDENT EXAMINER'S STATEMENT
I have completed my examination. I ran confirm that no matters have come to my atlentipn in connection with
the examination giving me cause to beli8ve'.
accounting records were not kepi In respect of the Gharitable company as required by sectlon 388 of the
2006 Act., or
the accounts do not accord with those records: or
the accounts do not comply with ihe accounting requirements of section 396 of the 2006 Act other than
any requirement that Ihe accounts glve a Irue and falff VRW which is not a matter wnsidered as part of
an independont examination,. or
Ihe accounts have not been prepared in accordarKe with Ihe methods and principles of the Slatement of
Recommended Practice for accounting and reporting by charities lapplicable lo charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of
Ireland {FRS 102)J.
I have no Goncerns and have come across no other matters in Connection with the examination to which
attention 8hould be drawn in this report in order to enable a proper undersianding of the ac¢ounts to be reached.
Page 5

THE LINCOLNSHIRE STEAM AND VINTAGE RALLY LIMITED
(A company limlted by guarantee)
INDEPENDENT EXAMINER'S REPORT (continuod)
FOR THE YEAR ENDED 31 MARCH 2024
Signed:
Dated: 3 December 2024
RCLEE
FCA
STREETS LLP
Chartered Accountants
Tower House
Lucy Tower Str88l
Lincoln
LN11XW
Pag8 6

THE LINCOLNSHIRE STEAM AND VINTAGE RALLY LIMITED
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
INCOME FROM:
Show income
Investments
110,734
4,384
110,734
4.384
105.335
741
TOTAL INCOME
115,118
115,118
106.076
EXPENDITURE ON:
Charitable activities
123,457
123,457
122,496
TOTAL EXPENDITURE
123,4S7
123,457
122,496
NET EXPENDITURE BEFORE OTHER RECOGNISED
GAINS AND LOSSES
NET MOVEMENT IN FUNDS
{8,339)
(8,339)
(8,339)
(8,339>
(16,420)
(16,420)
RECONCILIATION OF FUNDS:
Total funds brought fonvard
331,817
331,817
348.237
TOTAL FUNDS CARRIED FORWARD
323.478
323,478
331,817
The notes on pages 9 to 16 form part of these financial statements.
Page 7

THE LINCOLNSHIRE STEAM AND VINTAGE RALLY LIMITED
(A company limited by guarantee>
REGISTERED NUMBER: 01920215
BALANCE SHEET
AS AT 31 MARCH 2024
2024
2023
Not•
FIXED ASSETS
Tangible 8sseis
CURRENT ASSETS
Debtors
Cash at bank and in hand
50
62
12
934
335.555
327,035
327,035
336.489
CREDITORS: amounls falling due withln
one year
13
13,6071
(4. 734)
NET CURRENT ASSETS
323,428
331.755
NET ASSETS
323,478
331.817
CHARITY FUNDS
Unrestricted fund5
14
323,478
331,817
TOTAL FUNDS
323,478
331,817
The charilable companvs financial statements have been prepared in accordance wilh the provisions aP￿Icable
to companies subject to the small companies regime.
The Trustees conslder that the charitable company is entit18d lo exemption from the reqU1￿ment to have an
audit under the provisions of section 477 of the Companies Act 2006 ("the Acl'l and members have not reqUI￿d
the charitable company lo obtain an audit for the year in question in accordance with section 476 of the Act.
The Trustees acknowledge their responsibilities for complying with the requirements of Ihe companies Act 2006
with respect to accounting records and Ihe pr8paration of financlal statements.
The financial statements were approved and authorised for issue by the Trustees on 3 December 2024 and
signed on their behalf, by:
D G Ma¢donald - Trustee
L Walker - Trustee
The noles on pages 910 16 form part of these financial statements.
Page 8

THE LINCOLNSHIRE STEAM AND VINTAGE RALLY LIMITED
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIES
1.1 Bas18 of proparatlon of flnanclal statements
Th8 financial statements have been prepared in accordance with Accounting and Reporting by
Charities.. Statement of Recommended Practice appllcable to chaflties preparing their accounts in
accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland (FRS
102) (effective 1 January 2019) - (Charities SORP (FRS 1021>. the Financial Reporting Standard
applicable In the UK and Republic of Ireland and the Companie5 Act.
The Llncolnshire Steam and Vintage Rally Limited meets the definition of a public benefit enlity
under FRS 102. Assets and liabilitle5 are initially recognised at historical cost or transaction value
unless otherwlse stated in the relevant accounting policy.
The accounts have been prepared on a ces8atlon basis.
1.2 Company stalus
The charitable company 15 a company limited by guarantee. The members of the company are the
Trustees named on page 1. In the event of the charitable company being wound up, the liability in
respect of the guarantee limited to £1 per member of th8 charitable company.
The charitable company's functional and presentation currency is POLJnds sterling.
1.3 Fund accountlng
General funds are unrestrlcted funds which are available for use al the discretion of the Trustees in
furtheran¢8 of the general objectives of the charitable Company and which have nol been designated
for other purposes.
1.4 Income
All income is recognised once the charitable company has entitlement to the income, It is probable
that the income will be received and th8 amount of income receivable can be measured reliably.
Other income is recognised in the period in which it is receivable and to the 8Xtenl the goods have
been provided or on completion of the service.
Page 9

THE LINCOLNSHIRE STEAM AND VINTAGE RALLY LIMITED
(A company Ilmited by 9uarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIES (continued)
1.5 Expendlture
Expendllure is recognised once there is a legal or construclive obllgation lo transfer economic
benBfit lo a third party. it is probable that a transfer of economic benefits will be required in
settlement and the amount of the obligalion can be measured reliably. Expenditure is classified by
activity. The costs of each activity are made up of the lolal of direct costs and shared costs,
including support costs involved In undertaking each actlvity. Direct costs attributable to a single
activity are allocated directly lo that activily. Shared costs which contribute to fflore than one activily
and support cosls which are not attributable lo a single activity are apportloned between those
activities on a basis consistent with the use of resources. Central staff cosls are allocated on the
basis of tim8 spenl, and depreciation charges allocated on the portion of the asset's use.
Governance costs are those Incurred in connectlon wllh adminlslration of the charitable company
and compliance wSth conslitulional and statutory requirements.
Charitable activities and Governance costs are costs incurred on the charitable compaws
educational operation8, including SUPPOrt costs and costs relating to the governance of the
charilable company apportloned to charltable actlvities.
1.6 Tanglble flxed aslets and depreciation
All assets costing MO￿ than £500 are capltalised.
A ￿VIeW for impairmenl of a fixed asset is Carried out if events or changes in clrcumstances indicate
that the carrying value of any fixed asset may nal be recoverable. Shortfalls bemieen the carrying
value of flxed assets and their recoverable amounts are recognised as impairments. Impairmenl
losses are recognised in the Statement of financial activities incorporating income and experKliture
account.
Tangible fixed assets are carried at cost, net of depreciation and any provision for impaimient.
Depr8ciation is provided al rates calculated lo wrile off the cost of fixed assets, less their e8tirnaled
residual value, over their expected useful lives on the following bases..
Equipment
20% reducing balance
1.7 Interest recelvablo
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the charitable cornpany., this is normally upon notification of the interest paid or payable by
the Bank.
1.8 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
1.9 Cash at Bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments With a short
maturity of three months or less from the date of acquisition or opening of the deposit or similar
account.
Page 10

THE LINCOLNSHIRE STEAM AND VINTAGE RALLY LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIES (continuod)
1.10 Llabllllles and provlslons
Liabili16es are recognised when there is an obligation at the Balance sheet date as a result of a past
event, it Is probable that a transfer of economic benefit will be required in settlement, and the
amount of the settlement can be eslimated reliably. Li8bilities are recognised at the amount that the
charitable company anticipate5 It will pay to setlle the debt or the amounl It has receNed as
advanced payments for the goods or services il must provide. Provisions are measured at the best
estimate of the amounts required to settle the obligation.
SHOW INCOME
Unrn4trlcted
fund$
2024
Total
funds
2024
Total
fvnds
2023
Ice cream
Catering
Fairground
Tradeslands
Programme Sales
Programme advertislng
Gale ticket sales
Caravan sales
Beer tent
Electric money
Other show income
3,101
6,000
1,910
10,488
3,101
6,000
1,910
10,488
1,646
100
85,297
16,762
5,020
350
3, 100
6,050
2,470
10,507
2,034
100
85,297
16.762
5,020
350
60
59,344
15,835
4,900
895
loo
110,734
110,734
105.335
Total 2023
105,335
105.335
INVESTMENT INCOME
Unrestricted
funds
2024
Total
funds
2024
Tolal
funds
2023
Bank interest
4.384
4.384
741
Total 2023
741
741
Page11

THE LINCOLNSHIRE STEAM AND VINTAGE RALLY LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENT8
FOR THE YEAR ENDED 31 MARCH 2024
ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES
Unrestrlctod
funds
2024
Total
funds
2024
Total
funds
2023
Direct costs
116,879
116,879
116,134
Total 2023
116.134
116,134
DIRECT COSTS
Annual
Show
Total
2024
Total
2023
Advertislng
Prinling, stickers etc
Programmes
Insurance
Security
PA system
Police, fire 8nd first ald cover
Rent of showground
Coal supplies
Donalions
Signposting
Entert4inmenV appearance money
Expenses pald lo engine owners
Section secretary expenses
Water pipe fitting and skip hire
Electrical services and radio set hire
Tractor hlre, tanker repairs and waste
collection
Postage and stationery
Sundry show expenses including helpers grfts
Depreciation
2,682
3,081
3,245
1,008
7,400
850
9,160
38,209
7,371
4.500
1,502
750
17,400
212
S,267
2,972
2,682
3,081
3,245
1,008
7.400
850
9,160
38,209
7,371
4,500
1.502
750
17,400
212
5,267
2,972
2,380
2,041
3,134
811
8,676
850
5.267
38,478
8,872
4, 750
1,358
250
18,939
563
7.530
2.629
9,712
900
9,712
900
7,524
1,198
870
14
11
11
118,879
116,879
116.134
Total 2023
116,134
116, 134
Page12

THE LINCOLNSHIRE STEAM AND VINTAGE RALLY LIMITED
(A company limited by guarantae)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
GOVERNANCE COSTS
Unrestrlctod
funds
2024
Total
funds
2024
Total
fvnds
2023
Travel expenses
Accountancy and legal fees
Web site development costs
Wages and salarles
Depreciation - tangible fixed assets
1.250
2,130
197
3,000
1,250
2,130
197
3,000
1.256
1,908
197
3.000
6,578
6.578
6.362
ANALYSIS OF EXPENDITURE BY EXPENDITURE TYPE
Slaff costs Deprociation Oth•r costs
2024
2024
)24
Total
2024
Total
2023
Direct costs
Expenditure on governance
11
116,888
3,577
116,879
6,578
116.134
6.362
3.000
3,000
12
120,445
123,457
122,496
Total 2023
15
119,481
122.496
NET INCOMEI{EXPENDITURE)
This is staled after charging..
2024
2023
Depr8Ci8tion of tangible fixed assets..
- owned by the charity
12
15
During the year, no Trustees received any remuneration (2023 - £NIL).
During the year, no Trustees received any benefils in kind (2023 - £NIL).
4 Truslees received reimbursement of expenses amounting to £2744 in the current year, (2023
£918).
INDEPENDENT EXAMINERS REMUNERATION
The Independent Examinerfs remuneration amounts lo an Independent Examination fee of £2.310.
Page 13

THE LINCOLNSHIRE STEAM AND VINTAGE RALLY LIMITED
(A company limlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
10. STAFF COSTS
Staff costs were as follows:
2024
2023
Wages and salaries
3,000
3.000
The average number of pèrsons employed by the charitable company during the year was as follows:
2024
No.
2023
No.
Administration
No employee received remuneration amountlng to more than £60,000 in either year.
11. TANGIBLE FIXED ASSETS
Equlpment
Co•t
At 1 April 2023 and 31 March 2024
9,869
D•preciatlon
At 1 April 2023
Charg8 for the year
9,807
12
At 31 March 2024
9,819
Net book value
Al 31 March 2024
so
At 31 March 2023
62
12. DEBTORS
2024
2023
Prepayments and accrued income
934
13.
CREDITORS: Amounts falling dug within one year
2024
2023
Accruals and deferred Income
3.fA17
4.734
Page 14

THE LINCOLNSHIRE STEAM AND VINTAGE RALLY LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
14. STATEMENT OF FUNDS
STATEMENT OF FUNDS - CURRENT YEAR
Balance at
31 March
2024
Balance at
1 April 2023
Income Expenditurn
Unrostricted fund8
General Fund
331.817
115,118
(123,457)
323,478
STATEMENT OF FUNDS- PRIOR YEAR
BalanGe at
31 March
2023
8alanca al
1 April 2022
InGome Expenditure
General Fund
348.237
106,076
(122,496)
331,817
Total of funds
348,237
106,076
(122,496)
331,817
SUMMARY OF FUNDS- CURRENT YEAR
Balance at
31 March
2024
Balance at
1 April 2023
Incom¢ Expendlture
General fund
331.817
115,118
{123,457)
323,478
SUMMARY OF FUNDS. PRIOR YEAR
Balance el
31 March
2023
Balance at
1 Apnl 2022
Income Expenditure
General fund
348.237
106,076
(122,496)
331.817
Page 15

THE LINCOLNSHIRE STEAM AND VINTAGE RALLY LIMITED
(A company limlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
1 S. ANALYSIS OF NET ASSETS BETWEEN FUNDS
ANALYSIS OF NET ASSETS BETWEEN FUNDS- CURRENT YEAR
Unrestrfcted
funds
2024
Total
funds
2024
Tangible fixed assets
Current ass8ls
Creditors due within one year
50
327,035
13,607)
50
327,035
(3,807)
323,478
323,478
ANALYSIS OF NET A55ETS BETWEEN FUNDS - PRIOR YEAR
Unrestricted
funds
2023
Totsl
funds
2023
Tangible fixed assets
Current assets
Creditors due within one year
62
336,489
(4, 734)
62
336,489
(4. 734)
331.817
331,817
16. RELATED PARTY TRANSACTIONS
The company is controlled by its dlrectors.
Page 16