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REGISTERED COMPANY NUMBER: 09353809 (England and Wales)

REGISTERED CHARITY NUMBER: 1199823

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 28 February 2025

for

The Rail Trolley Trust

The Rail Trolley Trust

Contents of the Financial Statements

for the Year Ended 28 February 2025

| Page |

Report of the Trustees | 1 |  | to |  | 2

Statement of Financial Activities | 3 |

Balance Sheet | 4 |  | to |  | 5

Notes to the Financial Statements | 6 |  | to |  | 12

The Rail Trolley Trust (Registered number: 09353809)

Report of the Trustees

for the Year Ended 28 February 2025

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 28 February 2025. 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).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objectives of the charity are to obtain, restore and operate a representative collection of railway trolleys and associated equipment, together with a museum and collection of artefacts to illustrate their history, development and operation for use by and for the education of the public in the art and technique of railway trolley builders and also the history of railway trolley usage.

Public benefit

The directors confirm that they have complied with the duty in the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit (Charities and Public Benefit).

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The directors are most grateful to our generous donors to enable the charity to reach its objectives.

FINANCIAL REVIEW

Financial position

We have raised £6,736 (£7,460) during the period ending 29th February 2025 and have spent £3,597 (£5,950) on charitable activities.

Reserves policy

The charity's policy is to hold enough reserves for the day-to-day running of the charity. As at 28th February 2025 the charity held free reserves totalling £2,218 (£1,993).

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The organisation is a charitable company limited by guarantee, incorporated on 12th December 2014 and registered as a charity on 27th July 2022. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is covered under its Articles of Association. In the event of the company being wound up, members are required to contribute such amounts as may be required not exceeding £10.

The Rail Trolley Trust (Registered number: 09353809)

Report of the Trustees

for the Year Ended 28 February 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Recruitment and appointment of new trustees

The Directors of the company are also the charity Trustees for the purposes of charity law. When recruiting and appointing members of the Management Committee, a broad range of skills and competencies are looked for that relate to the charity.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The directors have carried out a review of the major risks to the charity and confirm that they have established systems to mitigate them.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

09353809 (England and Wales)

Registered Charity number

1199823

Registered office

39 Quantock Close

Great Ashby

Stevenage

Hertfordshire

SG1 6BS

Trustees

C S Crees Company Director

J R Flood Project Manager

B G Lawrik Director

D M Shell Operations Manager

T J Warner Company Director

J M West Director

Company Secretary

Approved by order of the board of trustees on 9 October 2025 and signed on its behalf by:

J R Flood - Trustee

The Rail Trolley Trust

Statement of Financial Activities

for the Year Ended 28 February 2025

| 28.2.25 |  | 29.2.24

| Unrestricted |  | Total

| fund |  | funds

| Notes | £ | £ |

INCOME AND ENDOWMENTS FROM

Donations and legacies | 3,536 |  | 7,460 |

Other trading activities | 2 | 3,200 |  | - |

Total | 6,736 |  | 7,460 |

EXPENDITURE ON

Raising funds | 50 |  | 50 |

Charitable activities

Restoration costs and assets | 3,174 |  | 5,630 |

Other | 373 |  | 270 |

Total | 3,597 |  | 5,950 |

NET INCOME | 3,139 |  | 1,510 |

RECONCILIATION OF FUNDS

Total funds brought forward | 2,843 |  | 1,333 |

TOTAL FUNDS CARRIED FORWARD | 5,982 |  | 2,843 |

The Rail Trolley Trust (Registered number: 09353809)

Balance Sheet

28 February 2025

| 28.2.25 |  | 29.2.24

| Unrestricted |  | Total

| fund |  | funds

| Notes | £ | £ |

FIXED ASSETS |

Tangible assets | 6 | 1,103 |  | 250 |

Heritage assets | 7 | 2,810 |  | 600 |

3,913 |  | 850 |

CURRENT ASSETS |

Cash at bank | 2,218 |  | 1,993 |

CREDITORS |

Amounts falling due within one year | 8 | (149 | ) | - |

NET CURRENT ASSETS | 2,069 |  | 1,993 |

TOTAL ASSETS LESS CURRENT LIABILITIES | 5,982 |  | 2,843 |

NET ASSETS | 5,982 |  | 2,843 |

FUNDS | 9

Unrestricted funds | 5,982 |  | 2,843 |

TOTAL FUNDS | 5,982 |  | 2,843 |

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The Rail Trolley Trust (Registered number: 09353809)

Balance Sheet - continued

28 February 2025

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.

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 9 October 2025 and were signed on its behalf by:

J R Flood - Trustee

The Rail Trolley Trust

Notes to the Financial Statements

for the Year Ended 28 February 2025

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

| Depreciation is provided at an annual rate of 25% reducing balance in order to write off each asset over its estimated useful life.

| Heritage assets

| Heritage assets are not depreciated, but values are reviewed by the trustees on an annual basis and material adjustments made where considered appropriate.

| 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.

The Rail Trolley Trust

Notes to the Financial Statements - continued

for the Year Ended 28 February 2025

1. | ACCOUNTING POLICIES - continued

| Fund accounting

| Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. | OTHER TRADING ACTIVITIES

| 28.2.25 |  | 29.2.24

£ | £ |

| Hire of Equipment | 3,200 |  | - |  |

3. | NET INCOME/(EXPENDITURE)

| Net income/(expenditure) is stated after charging/(crediting): |

| 28.2.25 |  | 29.2.24

£ | £ |

| Depreciation - owned assets | 418 |  | 125 |  |

4. | TRUSTEES' REMUNERATION AND BENEFITS

| There were no trustees' remuneration or other benefits for the year ended 28 February 2025 nor for the year ended 29 February 2024.

| Trustees' expenses

| There were no trustees' expenses paid for the year ended 28 February 2025 nor for the year ended 29 February 2024.

The Rail Trolley Trust

Notes to the Financial Statements - continued

for the Year Ended 28 February 2025

5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

| Unrestricted

| fund

£ |

| INCOME AND ENDOWMENTS FROM

| Donations and legacies | 7,460 |

| EXPENDITURE ON

| Raising funds | 50 |

| Charitable activities

| Restoration costs and assets | 5,630 |

| Other | 270 |

| Total | 5,950 |

| NET INCOME | 1,510 |

| RECONCILIATION OF FUNDS

| Total funds brought forward | 1,333 |

| TOTAL FUNDS CARRIED FORWARD | 2,843 |

The Rail Trolley Trust

Notes to the Financial Statements - continued

for the Year Ended 28 February 2025

6. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

£ |

| COST

| At 1 March 2024 | 500 |  |

| Additions | 1,271 |  |

| At 28 February 2025 | 1,771 |  |

| DEPRECIATION

| At 1 March 2024 | 250 |  |

| Charge for year | 418 |  |

| At 28 February 2025 | 668 |  |

| NET BOOK VALUE

| At 28 February 2025 | 1,103 |  |

| At 29 February 2024 | 250 |  |

7. | HERITAGE ASSETS

| Total

£ |

| MARKET VALUE

| At 1 March 2024 | 600 |  |

| Additions | 2,210 |  |

| At 28 February 2025 | 2,810 |  |

| NET BOOK VALUE

| At 28 February 2025 | 2,810 |  |

| At 29 February 2024 | 600 |  |

The Rail Trolley Trust

Notes to the Financial Statements - continued

for the Year Ended 28 February 2025

8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

| 28.2.25 |  | 29.2.24

£ | £ |

| Trade creditors | (1 | ) | - |  |

| Accrued expenses | 150 |  | - |  |

149 |  | - |  |

9. | MOVEMENT IN FUNDS

| Net |  |

| movement |  | At |

| At 1.3.24 |  | in funds |  | 28.2.25 |

£ | £ | £ |

| Unrestricted funds

| General fund | 2,843 |  | 3,139 |  | 5,982 |  |

| TOTAL FUNDS | 2,843 |  | 3,139 |  | 5,982 |  |

| Net movement in funds, included in the above are as follows:

| Incoming |  | Resources |  | Movement |

| resources |  | expended |  | in funds |

£ | £ | £ |

| Unrestricted funds

| General fund | 6,736 |  | (3,597 | ) | 3,139 |  |

| TOTAL FUNDS | 6,736 |  | (3,597 | ) | 3,139 |  |

The Rail Trolley Trust

Notes to the Financial Statements - continued

for the Year Ended 28 February 2025

9. | MOVEMENT IN FUNDS - continued

| Comparatives for movement in funds

| Net |  |

| movement |  | At |

| At 1.3.23 |  | in funds |  | 29.2.24 |

£ | £ | £ |

| Unrestricted funds

| General fund | 1,333 |  | 1,510 |  | 2,843 |  |

| TOTAL FUNDS | 1,333 |  | 1,510 |  | 2,843 |  |

| Comparative net movement in funds, included in the above are as follows:

| Incoming |  | Resources |  | Movement |

| resources |  | expended |  | in funds |

£ | £ | £ |

| Unrestricted funds

| General fund | 7,460 |  | (5,950 | ) | 1,510 |  |

| TOTAL FUNDS | 7,460 |  | (5,950 | ) | 1,510 |  |

| A current year 12 months and prior year 12 months combined position is as follows:

| Net |  |

| movement |  | At |

| At 1.3.23 |  | in funds |  | 28.2.25 |

£ | £ | £ |

| Unrestricted funds

| General fund | 1,333 |  | 4,649 |  | 5,982 |  |

| TOTAL FUNDS | 1,333 |  | 4,649 |  | 5,982 |  |

The Rail Trolley Trust

Notes to the Financial Statements - continued

for the Year Ended 28 February 2025

9. | MOVEMENT IN FUNDS - continued

| 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 | 14,196 |  | (9,547 | ) | 4,649 |  |

| TOTAL FUNDS | 14,196 |  | (9,547 | ) | 4,649 |  |

10. | RELATED PARTY DISCLOSURES

| There were no related party transactions for the year ended 28 February 2025.