Charity registration number 512433 (England and Wales)
Company registration number 01552477
LANCASHIRE TRACTION ENGINE CLUB LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
LANCASHIRE TRACTION ENGINE CLUB LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr G Townsend
Mrs H Bregazzi
Mr J P Sheldrake
Mrs R Bozson
Mr A Cowell
Mr A Wiaczek
Mr J C Bregazzi
Mr S Bozson
Miss D Carney
Secretary
Mr M D Priestner
Charity number (England and Wales)
512433
Company number
01552477
Registered office
Reception 1, Red Rose Court
Clayton Business Park
Clayton Le Moors
Lancashire
BB5 5JR
Accountants
Mayes Business Partnership Ltd
Reception 1, Red Rose Court
Clayton Business Park
Clayton Le Moors
Lancashire
BB5 5JR
LANCASHIRE TRACTION ENGINE CLUB LIMITED
CONTENTS
Page
Chairman's statement
1
Trustees' report
2 - 3
Statement of trustees' responsibilities
4
Accountants' report
5
Statement of financial activities
6
Balance sheet
7
Notes to the financial statements
8 - 13
LANCASHIRE TRACTION ENGINE CLUB LIMITED
CHAIRMAN'S STATEMENT
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 1 -

2025 was a more subdued year than usual for the club. This was expected, following the decision by the Lancashire Mining Museum to not run an event with us. However, plans are in progress to run an event with them in 2026. We have a sub committee who are working hard with the Lancashire Mining Museum to enable this to work successfully, and I thank them for their commitment to this.

Plans for a road run and Steam Apprentice Club event in May/June to celebrate our 50th anniversary unfortunately fell through. This was due to venue problems and a notable lack of interest from members of the Steam Apprentice Club, seemingly their membership are predominantly in the South of England -this is something I would like to work on improving.

Our 50th Anniversary event in the form of a road run in Cheshire took place in September, which attracted a considerable number of engines. Unfortunately the weather was not on our side at all and the day was a washout - it never stopped raining. Members did however have an enjoyable evening with a meal, archive material on display and a band. Again, I thank those responsible for making the event possible.

A Winter social event took place in January in Manchester, which included a visit to the Museum of Science and Industry and was enjoyed by all those who came along.

Sam Bozson
Chairman
Date: 9 March 2026
LANCASHIRE TRACTION ENGINE CLUB LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 2 -

The trustees present their annual report and financial statements for the year ended 30 November 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".

Objectives and activities

The objective of the charity is to advance public education by maintaining interest in historic mechanically propelled vehicles and other historic machinery.

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance
Significant activities and achievements against objectives

Please see the Chairman's report.

Financial review

Please see the Chairman's report.

Reserves policy

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

Structure, governance and management

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.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Miss F J Walker
(Resigned 21 October 2025)
Mr G Townsend
Mrs H Bregazzi
Mr J P Sheldrake
Mrs R Bozson
Mr A Cowell
Mr A Wiaczek
Mr J C Bregazzi
Mr M P Ogden
(Resigned 21 October 2025)
Mr S Bozson
Miss D Carney
LANCASHIRE TRACTION ENGINE CLUB LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 3 -
Recruitment and appointment of trustees

Trustees are appointed from interested parties who support the charity.

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

The trustees' r eport was approved by the Board of Trustees.

Mr J C Bregazzi
Trustee
9 March 2026
LANCASHIRE TRACTION ENGINE CLUB LIMITED
STATEMENT OF TRUSTEES' RESPONSIBILITIES
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 4 -

The trustees, who are also the directors of Lancashire Traction Engine Club Limited for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company 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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

- select suitable accounting policies and then apply them consistently;

- observe the methods and principles in the Charities SORP;

- make judgements and estimates that are reasonable and prudent; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

LANCASHIRE TRACTION ENGINE CLUB LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF LANCASHIRE TRACTION ENGINE CLUB LIMITED FOR THE YEAR ENDED 30 NOVEMBER 2025
- 5 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lancashire Traction Engine Club Limited for the year ended 30 November 2025, which comprise the statement of financial activities and the related notes from the charity’s accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made to the charity's trustees, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Lancashire Traction Engine Club Limited and state those matters that we have agreed to state to the charity's trustees, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lancashire Traction Engine Club Limited and the charity's trustees as a body, for our work or for this report.

It is your duty to ensure that Lancashire Traction Engine Club Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and deficit of Lancashire Traction Engine Club Limited. You consider that Lancashire Traction Engine Club Limited is exempt from the statutory audit requirement for the year, and is not required to obtain an independent examiner's report.

We have not been instructed to carry out an audit or a review of the financial statements of Lancashire Traction Engine Club Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory f inancial statements.

Mayes Business Partnership Ltd
Chartered Accountants
Reception 1, Red Rose Court
Clayton Business Park
Clayton Le Moors
Lancashire
BB5 5JR
9 March 2026
LANCASHIRE TRACTION ENGINE CLUB LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 6 -
Unrestricted
Unrestricted
funds
funds
2025
2024
Notes
£
£
Income and endowments from:
Donations and legacies
3
1,488
1,513
Other trading activities
4
-
3,967
Other income
5
30
-
Total income
1,518
5,480
Expenditure on:
Raising funds
6
1,829
2,375
Charitable activities
7
2,727
1,541
Total expenditure
4,556
3,916
Net income/(expenditure) and movement in funds
(3,038)
1,564
Reconciliation of funds:
Fund balances at 1 December 2024
37,441
35,877
Fund balances at 30 November 2025
34,403
37,441

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

LANCASHIRE TRACTION ENGINE CLUB LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2025
30 November 2025
- 7 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
13
123
147
Current assets
Cash at bank and in hand
34,280
37,294
Net current assets
34,280
37,294
Total assets less current liabilities
34,403
37,441
The funds of the charity
Unrestricted funds
14
34,403
37,441
34,403
37,441

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 November 2025.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the trustees on 9 March 2026
Mr J C Bregazzi
Trustee
Company registration number 01552477 (England and Wales)
LANCASHIRE TRACTION ENGINE CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 8 -
1
Accounting policies
Charity information

Lancashire Traction Engine Club Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Reception 1, Red Rose Court, Clayton Business Park, Clayton Le Moors, Lancashire, BB5 5JR.

1.1
Basis of preparation

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4
Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
LANCASHIRE TRACTION ENGINE CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
1
Accounting policies
(Continued)
- 9 -
1.5
Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
33% on reducing balance and 15% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7
Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

LANCASHIRE TRACTION ENGINE CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
1
Accounting policies
(Continued)
- 10 -
Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

2
Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Income from donations and legacies
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Donations and gifts
192
22
Membership fees
1,296
1,491
1,488
1,513
4
Income from other trading activities
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Fundraising events
-
3,967
5
Other income
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Other income
30
-
LANCASHIRE TRACTION ENGINE CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 11 -
6
Expenditure on raising funds
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Fundraising and publicity
Staging fundraising events
1,829
2,375
7
Expenditure on charitable activities
Educational activities
Educational activities
2025
2024
£
£
Direct costs
Depreciation and impairment
24
28
Room hire, refreshments and speakers
1,641
344
Postage, stationery and printing
5
202
Sundry
89
51
1,759
625
Share of support and governance costs (see note 8)
Support
38
38
Governance
930
878
2,727
1,541
Analysis by fund
Unrestricted funds
2,727
1,541
8
Support costs allocated to activities
2025
2024
£
£
NTET subs and conference
38
38
Governance costs
930
878
968
916
Analysed between:
Educational activities
968
916
LANCASHIRE TRACTION ENGINE CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 12 -
9
Net movement in funds
2025
2024
£
£
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets
24
28
10
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
11
Employees

The average monthly number of employees during the year was:

2025
2024
Number
Number
Total
0
0
There were no employees whose annual remuneration was more than £60,000.
12
Taxation

The charity is exempt from tax ation on its activities because all its income is applied for charitable purposes.

13
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 December 2024
1,323
At 30 November 2025
1,323
Depreciation and impairment
At 1 December 2024
1,176
Depreciation charged in the year
24
At 30 November 2025
1,200
Carrying amount
At 30 November 2025
123
At 30 November 2024
147
LANCASHIRE TRACTION ENGINE CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 13 -
14
Unrestricted funds

The unrestricted funds of the charity compri se the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be use d. The se include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 December 2024
Incoming resources
Resources expended
At 30 November 2025
£
£
£
£
General funds
37,441
1,518
(4,556)
34,403
Previous year:
At 1 December 2023
Incoming resources
Resources expended
At 30 November 2024
£
£
£
£
General funds
35,877
5,480
(3,916)
37,441
15
Related party transactions

There were no disclosable related party transactions during the year (2024 - none).

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