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REGISTERED COMPANY NUMBER: 03417427 (England and Wales)
REGISTERED CHARITY NUMBER: 01074702














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
03417427 (England and Wales)

Registered Charity number
01074702

Registered office
Chandler House
7 Ferry Road Office Park
Riversway
Preston
Lancashire
PR2 2YH

Trustees
M L Smith
J Green
P Cooper (resigned 14/1/2024)
L D Jobson
T Jobson
G Butler (resigned 4/3/2024)
R W Bignell (resigned 3/4/2024)
P Johnson (appointed 4/3/2024)
W Livesey (appointed 4/3/2024)
D Gardner (appointed 4/3/2024)

Company Secretary
L D Jobson

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
NatWest Bank
68 Church Street
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 19 January 2025 and signed on its behalf by:





L D Jobson - Secretary

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 63,057 - 63,057 55,712

Other income 1,100 - 1,100 2,013
Total 64,157 - 64,157 57,725

EXPENDITURE ON
Raising funds 3 7,383 - 7,383 8,014

Charitable activities
Restoration of motor transport buses and coaches 50,717 1,100 51,817 64,846
Total 58,100 1,100 59,200 72,860

NET INCOME/(EXPENDITURE) 6,057 (1,100 ) 4,957 (15,135 )


RECONCILIATION OF FUNDS
Total funds brought forward 193,572 59,100 252,672 267,807

TOTAL FUNDS CARRIED FORWARD 199,629 58,000 257,629 252,672

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 7 126,214 58,000 184,214 192,698

CURRENT ASSETS
Debtors 8 13,366 - 13,366 13,688
Cash at bank 61,548 - 61,548 47,835
74,914 - 74,914 61,523

CREDITORS
Amounts falling due within one year 9 (1,499 ) - (1,499 ) (1,549 )

NET CURRENT ASSETS 73,415 - 73,415 59,974

TOTAL ASSETS LESS CURRENT
LIABILITIES

199,629

58,000

257,629

252,672

NET ASSETS 199,629 58,000 257,629 252,672
FUNDS 10
Unrestricted funds 199,629 193,572
Restricted funds 58,000 59,100
TOTAL FUNDS 257,629 252,672

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 19 January 2025 and were signed on its behalf by:





M L Smith - Trustee

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 36,180 24,034
Gift aid 9,717 9,511
Collection/donation 3,625 9,143
RVPG 13,167 12,857
1467 Restoration 368 167
63,057 55,712

3. RAISING FUNDS

Raising donations and legacies
31/8/24 31/8/23
£    £   
Support costs - 89

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 8,484 9,112
Surplus on disposal of fixed assets (1,100 ) (2,013 )

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 55,712 - 55,712

Other income 2,013 - 2,013
Total 57,725 - 57,725

EXPENDITURE ON
Raising funds 8,014 - 8,014


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
Restoration of motor transport buses and coaches
63,746

1,100

64,846
Total 71,760 1,100 72,860

NET INCOME/(EXPENDITURE) (14,035 ) (1,100 ) (15,135 )


RECONCILIATION OF FUNDS
Total funds brought forward 207,607 60,200 267,807

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

233,767

29,543

22,795

939

287,044

DEPRECIATION
At 1 September 2023 63,013 22,721 8,457 155 94,346
Charge for year 3,676 2,639 2,080 89 8,484
At 31 August 2024 66,689 25,360 10,537 244 102,830
NET BOOK VALUE
At 31 August 2024 167,078 4,183 12,258 695 184,214
At 31 August 2023 170,754 6,822 14,338 784 192,698

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 13,366 13,688

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/24 31/8/23
£    £   
Accrued expenses 1,499 1,549

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 252,672 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 64,157 (59,200 ) 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

There were no related party transactions for the year ended 31 August 2024.

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.