| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| REPORT OF THE TRUSTEES AND |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 |
| FOR |
| RIBBLE VEHICLE PRESERVATION TRUST |
| LIMITED |
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| REPORT OF THE TRUSTEES AND |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 |
| FOR |
| RIBBLE VEHICLE PRESERVATION TRUST |
| LIMITED |
| RIBBLE VEHICLE PRESERVATION TRUST |
| LIMITED |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| Page |
| Report of the Trustees | 1 | to | 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 | to | 8 |
| Notes to the Financial Statements | 9 | to | 14 |
| RIBBLE VEHICLE PRESERVATION TRUST |
| LIMITED (REGISTERED NUMBER: 03417427) |
| REPORT OF THE TRUSTEES |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| The trustees present their report with the financial statements of the charity for the year ended 31 August 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). |
| The report is prepared in accordance with the small company regime (section 419(2) of the Companies Act 2006). |
| OBJECTIVES AND ACTIVITIES |
| Objectives and aims |
| The objectives and aims of the charity in the year under review were to: |
| - preserve the heritage of Ribble Motor Services of the period 1919 to 2013, |
| - preserve, restore and where possible operate buses which served in the Ribble fleet during those years, |
| - maintain an archive of Ribble artefacts which help to tell the story of the company, |
| - use our restored buses in service at historic bus events, local festivals, educational schools visits and in support of other local charities where it is appropriate. |
| When planning the activities for the year the Trustees have considered the Commission's guidance on public benefit. The policy of Ribble Vehicle Preservation Trust is to display the collection of restored vintage buses in public places to illustrate to the public how vehicle design and operation has changed over the decades. |
| The charity regularly uses its vehicles to provide free services to the public so that they can enjoy the experience of riding on vintage buses. This is often done in conjunction with, and in support of, other local charity and heritage groups. |
| RIBBLE VEHICLE PRESERVATION TRUST |
| LIMITED (REGISTERED NUMBER: 03417427) |
| REPORT OF THE TRUSTEES |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| ACHIEVEMENT AND PERFORMANCE |
| Charitable activities |
| We held our usual annual Members Day on the 7th of April 2024, were we opened our premises at Freckleton to allow our members to see behind the scenes, we also ran some vehicles locally, to give our members the chance to ride their favourite vehicles. |
| We held our annual Morecambe running day which is getting more and more popular each year and is well attended by families as well as bus enthusiasts. With many buses running fully loaded. The open topped buses being particularly popular with the children. |
| We supported other groups events which included Kirby Stephen on 31st March. Manchester Museum of Transport held four events under the title of 200 years of Britain's buses, we attended 3 of the four events taking a selection of vehicles from the 50's through to the 1990's |
| We also attended events at Great Harwood Show, Skipton, Barrow Transport Festival, Morecambe's Vintage by the Sea event which is a 40's and 50's themed weekend. We also supported town carnivals in Oswaldtwistle and Lytham St. Annes. |
| On our second main event we teamed up with the Fishwick Transport Group to hold a joint Ribble-Fishwick running day operating from the British Commercial Vehicle Museum at Leyland. This has been the second time we have held the event, and it is becoming more and more popular with the public. |
| Restoration work on Leyland National 382 is well under way and hopes to be completed during 2025. |
| Other work that is being carried out by our volunteers at Freckleton is to move spares stored currently on buses at the back of the building to a shipping container that the Engineering volunteers have shelved and put a light in. This will mean that the spares will not deteriorate due to weather, damp and cold temperatures etc and they will be more secure. This will also help us to dispose of any surplus items that are not required by the Trust, that could be used by other charities or groups. This will help us to make the most of our area at the rear of our building. |
| Now we are coming to the end of the 2024 Rally season our volunteers and Trustees are still working hard to prepare for the future 2025 rally season. |
| We would like to thank all our volunteers, members and supporters for the work they do in keeping the Trust running. |
| FINANCIAL REVIEW |
| Principal funding sources |
| The principal funding sources during the year were from sponsorships and donations. |
| Reserves policy |
| In accordance with guidelines issued by the Charity Commissioners, the Trustees have adopted a policy regarding the reserves which should ensure that: |
| a) Excluding those funds allocated to fixed assets, general reserves do not exceed more than 15 months anticipated expenditure; |
| b) There are adequate funds to ensure that the Charity is able to meet all current and known future liabilities. |
| The level of resources is considered at regular intervals by the Finance Committee. |
| STRUCTURE, GOVERNANCE AND MANAGEMENT |
| Governing document |
| The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
| RIBBLE VEHICLE PRESERVATION TRUST |
| LIMITED (REGISTERED NUMBER: 03417427) |
| REPORT OF THE TRUSTEES |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| The results for the year and financial position of the company are as shown in the annexed financial statements. |
| The company became a Registered Charity (No 1074702) on 17 March 1999 under a Trust Deed which is registered with the Charity Commissioners. All the directors have been appointed as trustees. |
| Investment decisions are delegated to professionally qualified managers. |
| The directors are satisfied that the accounts comply with current statutory requirements, the Trust Deed and the Statement of Recommended Practice 2005 'Accounting and Reporting by Charities'. |
| Directors are appointed by the Board of Trustees subject to approval at the following Annual General Meeting. The documents containing the provisions that regulate the purposes and administration of the charity are the company's Memorandum and Articles of Association. |
| Related parties |
| There were no related party transactions during the year. The trustees did not receive any remuneration or amounts in respect of expenses in the year. |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| Registered Company number |
| Registered Charity number |
| Registered office |
| Trustees |
| Company Secretary |
| Independent Examiner |
| Michael James Barker |
| Wallwork Nelson & Johnson |
| Chandler House |
| 7 Ferry Road Office Park |
| Riversway |
| Preston |
| Lancashire |
| PR2 2YH |
| RIBBLE VEHICLE PRESERVATION TRUST |
| LIMITED (REGISTERED NUMBER: 03417427) |
| REPORT OF THE TRUSTEES |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| Bankers |
| Lancaster |
| LA1 1LN |
| HSBC |
| 26 Market Street |
| Chorley |
| PR7 2RX |
| This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. |
| Approved by order of the board of trustees on |
| INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
| RIBBLE VEHICLE PRESERVATION TRUST |
| LIMITED |
| Independent examiner's report to the trustees of Ribble Vehicle Preservation Trust Limited ('the Company') |
| I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2024. |
| Responsibilities and basis of report |
| As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
| Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
| Independent examiner's statement |
| I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
| 1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
| 2. | the accounts do not accord with those records; or |
| 3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or |
| 4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
| I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. |
| Michael James Barker |
| Wallwork Nelson & Johnson |
| Chandler House |
| 7 Ferry Road Office Park |
| Riversway |
| Preston |
| Lancashire |
| PR2 2YH |
| 19 January 2025 |
| RIBBLE VEHICLE PRESERVATION TRUST |
| LIMITED |
| STATEMENT OF FINANCIAL ACTIVITIES |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| 31/8/24 | 31/8/23 |
| Unrestricted | Restricted | Total | Total |
| fund | fund | funds | funds |
| Notes | £ | £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies | 2 |
| Other income |
| Total |
| EXPENDITURE ON |
| Raising funds | 3 |
| Charitable activities |
| Total |
| NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 252,672 |
| RIBBLE VEHICLE PRESERVATION TRUST |
| LIMITED (REGISTERED NUMBER: 03417427) |
| BALANCE SHEET |
| 31 AUGUST 2024 |
| 31/8/24 | 31/8/23 |
| Unrestricted | Restricted | Total | Total |
| fund | fund | funds | funds |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 7 |
| CURRENT ASSETS |
| Debtors | 8 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 9 | ( |
) | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| NET ASSETS |
| FUNDS | 10 |
| Unrestricted funds | 193,572 |
| Restricted funds | 59,100 |
| TOTAL FUNDS | 252,672 |
| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006. |
| The trustees acknowledge their responsibilities for |
| (a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
| RIBBLE VEHICLE PRESERVATION TRUST |
| LIMITED (REGISTERED NUMBER: 03417427) |
| BALANCE SHEET - continued |
| 31 AUGUST 2024 |
| These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
| The financial statements were approved by the Board of Trustees and authorised for issue on |
| RIBBLE VEHICLE PRESERVATION TRUST |
| LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
| Income |
| All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
| Expenditure |
| Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
| Tangible fixed assets |
| Assets purchased for use by the charity on an ongoing basis are capitalised. |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
| Land - nil |
| Buildings - 2% on cost |
| Plant and machinery etc - 20% on cost |
| The company has in its possession approximately 30 commercial vehicles and certain plant and equipment, all of which have been gifted to the charity or acquired at costs that cannot be determined. |
| Taxation |
| The charity is exempt from corporation tax on its charitable activities. |
| Fund accounting |
| Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
| Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
| Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
| Going concern |
| The trustees have considered the expected income from various sources for the next twelve-month and five-year periods and planned expenditure accordingly. |
| If income falls short of expectations, the trustees are confident that the expenditure can be controlled such that together with retained reserves there are sufficient funds such that there is no threat to the charity being able to continue as a going concern |
| RIBBLE VEHICLE PRESERVATION TRUST |
| LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| 2. | DONATIONS AND LEGACIES |
| 31/8/24 | 31/8/23 |
| £ | £ |
| Sponsorship |
| Gift aid |
| Collection/donation |
| RVPG | 13,167 | 12,857 |
| 1467 Restoration | 368 | 167 |
| 3. | RAISING FUNDS |
| Raising donations and legacies |
| 31/8/24 | 31/8/23 |
| £ | £ |
| Support costs |
| 4. | NET INCOME/(EXPENDITURE) |
| Net income/(expenditure) is stated after charging/(crediting): |
| 31/8/24 | 31/8/23 |
| £ | £ |
| Auditors' remuneration | 1,680 | 1,620 |
| Depreciation - owned assets |
| Surplus on disposal of fixed assets | ( |
) | ( |
) |
| 5. | TRUSTEES' REMUNERATION AND BENEFITS |
| There were no trustees' remuneration or other benefits for the year ended 31 August 2024 nor for the year ended 31 August 2023. |
| Trustees' expenses |
| There were no trustees' expenses paid for the year ended 31 August 2024 nor for the year ended 31 August 2023. |
| 6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
| Unrestricted | Restricted | Total |
| fund | fund | funds |
| £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies |
| Other income |
| Total |
| EXPENDITURE ON |
| Raising funds |
| RIBBLE VEHICLE PRESERVATION TRUST |
| LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| 6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
| Unrestricted | Restricted | Total |
| fund | fund | funds |
| £ | £ | £ |
| Charitable activities |
| Total |
| NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward | 207,607 | 60,200 |
| TOTAL FUNDS CARRIED FORWARD | 193,572 | 59,100 | 252,672 |
| 7. | TANGIBLE FIXED ASSETS |
| Freehold | Plant and | Motor | Computer |
| property | machinery | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 September 2023 and 31 August 2024 |
| DEPRECIATION |
| At 1 September 2023 |
| Charge for year |
| At 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| The Charity has in its possession approximately 33 commercial vehicles and certain plant and equipment, all of which have been gifted to the charity or acquired at costs that cannot be determined. Some are on long term loan to the charity. |
| RIBBLE VEHICLE PRESERVATION TRUST |
| LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/8/24 | 31/8/23 |
| £ | £ |
| Prepayments |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/8/24 | 31/8/23 |
| £ | £ |
| Accrued expenses |
| 10. | MOVEMENT IN FUNDS |
| Net |
| movement | At |
| At 1/9/23 | in funds | 31/8/24 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 193,572 | 6,057 | 199,629 |
| Restricted funds |
| Building purchased with lottery funding | 59,100 | (1,100 | ) | 58,000 |
| TOTAL FUNDS | 4,957 | 257,629 |
| Net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 64,157 | (58,100 | ) | 6,057 |
| Restricted funds |
| Building purchased with lottery funding | - | (1,100 | ) | (1,100 | ) |
| TOTAL FUNDS | ( |
) | 4,957 |
| Comparatives for movement in funds |
| Net |
| movement | At |
| At 1/9/22 | in funds | 31/8/23 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 207,607 | (14,035 | ) | 193,572 |
| Restricted funds |
| Building purchased with lottery funding | 60,200 | (1,100 | ) | 59,100 |
| TOTAL FUNDS | 267,807 | (15,135 | ) | 252,672 |
| RIBBLE VEHICLE PRESERVATION TRUST |
| LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| 10. | MOVEMENT IN FUNDS - continued |
| Comparative net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 57,725 | (71,760 | ) | (14,035 | ) |
| Restricted funds |
| Building purchased with lottery funding | - | (1,100 | ) | (1,100 | ) |
| TOTAL FUNDS | 57,725 | (72,860 | ) | (15,135 | ) |
| A current year 12 months and prior year 12 months combined position is as follows: |
| Net |
| movement | At |
| At 1/9/22 | in funds | 31/8/24 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 207,607 | (7,978 | ) | 199,629 |
| Restricted funds |
| Building purchased with lottery funding | 60,200 | (2,200 | ) | 58,000 |
| TOTAL FUNDS | 267,807 | (10,178 | ) | 257,629 |
| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 121,882 | (129,860 | ) | (7,978 | ) |
| Restricted funds |
| Building purchased with lottery funding | - | (2,200 | ) | (2,200 | ) |
| TOTAL FUNDS | 121,882 | (132,060 | ) | (10,178 | ) |
| Unrestricted funds: |
| Unrestricted funds are used for the charity's general purpose and objectives as outlined in the Report of the Trustees on pages 1 to 3. |
| Restricted funds: |
| Funds received from the Heritage Lottery Fund are restricted for the purpose of premises in which to store the Trust's collection of historic buses. They are not used for any other purpose. |
| RIBBLE VEHICLE PRESERVATION TRUST |
| LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| 11. | RELATED PARTY DISCLOSURES |
| 12. | COMPANY STATUS |
| The company is limited by guarantee and has no issued share capital. The liability of its members shall not exceed £1 each. |