THE TRAM 226 TRUST (Registered Charity no. SC054077)
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
THE TRAM 226 TRUST (Registered Charity no. SC054077)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Principal Address:
Solicitor:
Independent Examiner:
8 Buckstone Wood Edinburgh EH10 6QW
lan M Allan LL.B Stenhouse, Husband & Irvine Solicitors
Anne Shepherd FCCA 56 Liberton Drive EDINBURGH EH1i6 6NW
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THE TRAM 226 TRUST
(Registered Charity no. SC054077)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
The Trustees submit their report and financial statements of The Tram 226 Trust for the year ended 31 March 2025.
1) The Trust was set up under a constitution, dated 30 November 2022, and is administered by five Trustees. This took over the ownership of Tram 226 from Lothian Buses and the administration of the restoration of Tram 226 from several individuals. The Trust's application for charitable status was granted on 21 March 2025.
2) The principal objective of the Trust is the continued ownership, restoration, conservation and public display of 1903 Edinburgh cable tram no. 226. In addition to this the Trust will seek to advance the knowledge of the public in the history of tramways in Edinburgh and the place of the former tramways in the economic and social development of the Edinburgh area.
3) In furtherance of these objectives the Trust may:
a. Undertake restoration, repairs and conservation activities on Tram 226;
b. Carry out research into, record and disseminate, the history, construction and operation of the tramways that operated in the Edinburgh area;
c.. Acquire appropriate tramway artefacts originating in the Edinburgh area to ensure their conservation and display.
4) The Trustees who have served the Trust since inception are: -
James L Walls Jasper W Pettie Neil M Urquhart Alan Brotchie Daniel Eunson
New trustees can be appointed, approved by a majority of two-thirds of the existing Trustees. Such appointees are made having regard to their experience, expertise and suitability for office. we
5) The Trust's other officers are as follows: -
Bankers: Royal Bank of Scotland plc, West End Edinburgh Branch, 142 - 144 Princes St, EdinburghEH2 4EQ Solicitor: lan M Allan LL.B, Stenhouse, Husband & Irvine, 3 East Port, Dunfermline KY12 7JG =~: Independent Examiner: Anne Shepherd FCCA, 56 Liberton Drive, Edinburgh, EH16 6NW a
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THE TRAM 226 TRUST
(Registered Charity no. SC054077)
REPORT OF THE TRUSTEES (continued)
6) The Trustees have assessed the major risks to which the tram is exposed, and are satisfied that systems are in place to mitigate their exposure to the major risks. The level of public liability insurance cover is considered adequate, and the Trustees actively review all aspects of financial control and cash security.
7) Charity law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Trust and the incoming resources and application of resources, including the net income, of the Trust for the year. In preparing those financial statements, the Trustees are required to:
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e@ select suitable accounting policies and then apply them consistently;
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@ make judgements and estimates that are reasonable and prudent;
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@ state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements;
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@ prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Trust will continue in operation.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Trust and which enable them to ensure that the financial statements comply with the Charities Accounts (Scotland) Regulations 2006. They are also responsible for safeguarding the assets of the Trust and for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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By Order of thery
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JW Pettie, Trustee
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<-JL Walls, Trustee
Lra, A 2025
- 3- THE TRAM 226 TRUST (Registered Charity no. SC054077)
REPORT OF THE INDEPENDENT EXAMINER
| report on the financial statements of The Tram 226 Trust for the year ended 31 March 2025, which are set out on pages 4to6.
This report is made solely to the Trustees, as a body, in accordance with the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). My work has been undertaken so that | might state to the Trustees those matters | am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, | do not accept or assume responsibility to anyone other than the charity and the Trustees as a body, for my work, or for this report.
Respective responsibilities of Trustees and independent examiner
The Trustees are responsible for the preparation of the financial statements. The Trustees consider that an audit is not required for this year under regulation 10(1)(a) to (c) of the Charities Accounts (Scotland) Regulations 2006 (as amended) and that an independent examination is needed. It is my responsibility to examine the financial statements under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and to state whether particular matters have come to my attention.
Basis of independent examiner's statement
My examination was carried out in accordance with regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a comparison of the financial statements with the accounting records kept by the charity. It also includes consideration of any unusual items or disclosures in the financial statements and seeking explanations from you as governors concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in.an audit and consequently no opinion is given as to whether these financial statements present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention which gives me reasonable cause to believe that in any material respect, the requirements:
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e to keep accounting records in accordance with section 44(1)(a) of the Charities and: Trustee Investment (Scotland) Act 2005 and Regulation 4 of the 2006 Accounts Regulations; and
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e to prepare financial statements which accord with the accounting records and Regulation 8 of the 2006 Accounts Regulations have not been met; or to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
A Anne Shepherd FCCA > 56 Liberton Drive EDINBURGH EH16 6NW
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Rnci Diane 2025
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THE TRAM 226 TRUST (Registered Charity no. SC054077)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 (2024: TEN MONTHS TO 31 MARCH)
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2024
£
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2025
£
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Incoming resources
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Incoming resources from generated funds
5,071 Donations: under Gift Aid 1,894
. : tax recovered
138 Interest on deposits (gross) 484
Activities in furtherance of the charity's objects:
- Grants etc. -
5,209 Total incoming resources resources 2,378
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- Grants etc. -
5,209 Total incoming resources resources 2,378
Resources expended
Expenses io
620 Rent of storage space 744.
- Miscellaneous 66°
620 Total resources expended 810
4,589 Surplus 1,568
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no Other Other recognised gains or losses. losses. .
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There were no Other Other recognised gains or losses. losses.
The accompanying notes form an integral part of these financial statements.
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THE TRAM 226 TRUST
(Registered Charity no. SC054077)
BALANCE SHEET AS AT 31 MARCH 2025
2024 2025
£ £&
Current assets
21,039 Bank deposits 22,607
Less: Current liabilities
Creditors: amounts falling due
- within one year -
21,039 Net current assets 22.607
21,039 Total assets less current liabilities 22,607
Represented by:
16,450 Funds at 1 April 2024 21,039
4,589 Surplus generated during year 1,568
21,039 22,607
These financial statements were approved by the Trustees on 2025.
ails foment Mall
J W Pettie, Trustee ¢__-" JL Walls, Trustee
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The accompanying notes form an integral part of these financial statements.
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THE TRAM 226 TRUST (Registered Charity no. SC054077)
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Accounting Policies
(a) These financial statements have been prepared under the historic cost convention and in accordance with applicable accounting standards, and follow the recommendations in the Statement of Recommended Practice: Accounting and Reporting by Charities (the SORP) issued in 2005.
(b) At its inception on 30 November 2022 the Trust assumed the funds accumulated by its predecessors represented by the bank deposits. No value has been placed on the Tram 226 in these financial statements.
(c) All incoming resources are included in the Statement of Financial Activities. Voluntary income is received by way of membership fees, donations and gifts and is included in full in the Statement of Financial Activities when receivable. The value of services provided by the volunteers has not been included in these accounts.