Charity registration number 1072449
Company registration number 03232794 (England and Wales)
TANFIELD RAILWAY TRUST LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
TANFIELD RAILWAY TRUST LIMITED
CONTENTS
Page
Trustees' Annual Report report
1 - 5
Independent examiner's report
6 - 7
Statement of financial activities
8
Balance sheet
9 - 10
Notes to the financial statements
11 - 21
TANFIELD RAILWAY TRUST LIMITED
TRUSTEES' ANNUAL REPORT REPORT (INCLUDING DIRECTOR'S REPORT AND STRATEGIC REPORT)
FOR THE YEAR ENDED 31 JULY 2025
- 1 -

The T rustees who are also directors for the purpose of company law present their report and the unaudited financial statements of the charity for the year ended 31 July 202 5.

Reference and administrative details

Registered charity name Tanfield Railway Trust Ltd

Charity registration number 1072449

Company Registration Number 03232794

Principal office

Tanfield Railway

Marley Hill

Sunniside

Newcastle Upon Tyne

NE16 5ET

The Trustees

D W Smith (Chairman)

R G Charlton

I Cowan

P R Vout (Resigned September 2025)

P Sheldon (Resigned January 2025)

B Duncan (Resigned September 2025)

P C Lewis (Resigned August 2025)

J Hodgson (Appointed September 2024)

F S Palmer (Appointed May 2025)

Secretary

A M Pickering

Independent Examiner

Stephen Murray FCA

TC Group

12 Bessemer Court

Hownsgill Park, Knitsley Lane,

Consett, County Durham

DH8 7BL

TANFIELD RAILWAY TRUST LIMITED
TRUSTEES' ANNUAL REPORT REPORT (INCLUDING DIRECTOR'S REPORT AND STRATEGIC REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 2 -
Objectives and activities

The overriding objects of the charity are to advance education by acquiring housing, exhibiting, conserving, restoring and repairing objects and collections of educational nature. The charity looks to establish, acquire and maintain museums, galleries, libraries and other places where such purposes may be achieved and where educational research, enquiry and the exchange and dissemination of relevant views and information may happen.

Public benefit

The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education when reviewing the charity's aims and objectives and in planning future activities.

Grant making policy

The charity has established its grant making policy to achieve its objects for the public benefit. The application of the funds by way of grants is to institutions. The trustees consider they have met the public benefit when distributing the grants.

Public benefit
Strategic report

The following sections of achievements and performance and financial review form the strategic report of the charity.

TANFIELD RAILWAY TRUST LIMITED
TRUSTEES' ANNUAL REPORT REPORT (INCLUDING DIRECTOR'S REPORT AND STRATEGIC REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 3 -
Achievements and performance
Significant activities and achievements against objectives

The charity received £237,880 (2024: £61,537) in donations and legacies, rental income of £18,000, (2024: £12,000) Bank Interests of £5,609 (2024: £317) and rechargeable expenditure of £1,248 (2024: £1,248).

The charity had operational costs of £18,160 (2024: £11,255) and support costs of £11,167 (2024: £4,181). Included in that figure was fees payable of £1,260 (2024: £1,200) for the independent examination.

Additionally the charity had grants payable during the year of £35,679 (2024 £0.00)

With the above income and expenditure, the trust takes great pride in presenting the following achievements;

The Trust has match funded the rebuild of the 1891-vintage locomotive ‘Twizell’ to enable it to haul trains at Tanfield Railway in our 300th anniversary year. Twizell is one of only two working locomotives in the world which were built at Stephenson’s in Newcastle, itself the world’s first locomotive works.

We have increased public engagement this year, with regular guided walks focussing on the history of the Tanfield Railway and how we keep trains moving. The demonstration 1725-era wooden waggon has been produced and presented to the public, but unfortunately not on the originally intended site for the tercentenary of the Tanfield Waggonway.

We continue working on formalising agreements with owners of large items on the Trust’s site. Also, large areas of the site have been cleared and are in the process of being tidied up or prepared for our future developments.

Many railway vehicles on site are currently open to the elements. The Trust has detailed plans and funding (c£220k) for a new storage shed on site to protect and conserve a large number of these. The shed will also enhance the appearance of our historic Marley Hill site and be allied with improved access and presentation. The building has been assigned to a local contractor and is currently with the local planning authority.

The Trust continues to improve Marley Hill shed, the oldest (1854) standard gauge shed in the world which is still used for its original purpose of housing and maintaining steam locomotives. We have recently let a contract (£10k) to limewash the interior of the shed, which is usually freely accessible to the public.

The Trust is examining a number of possible future projects: rebuilding the early lean-to parts of Marley Hill shed to create welcome and interpretation spaces (c£30k); build a mezzanine floor in the carriage shed for papers and artefacts (c£80k); convert a carriage primarily to provide a transportable educational resource space (c£50k); rebuild an early NER ‘bird cage’ brakevan for use (c£50k); restore a steam locomotive to working order (c£80k); cosmetically restore a locomotive for presentation (c£20k); restore a steel-bodied coal hopper waggon for use on demonstration trains (c£10k). Together with the Tanfield Railway Company we are investigating the return of trains into Marley Hill, which on running days has the potential to greatly increase public footfall, engagement and learning on our historic site.

The charity has low governance costs comprising professional fees.

There were £114 (2024 £0.00) fundraising costs during the year.

Related party transactions are disclosed as applicable in the notes to the accounts.

There was a net income and net movement in funds for the year amounting to £197,617(2024: £59,666).

Financial review

The trustees feel that the activity reflects the profile and standing within the local geographic area. T he trustees would like to record their appreciation for all the financial support received from benefactors during the course of the year.

TANFIELD RAILWAY TRUST LIMITED
TRUSTEES' ANNUAL REPORT REPORT (INCLUDING DIRECTOR'S REPORT AND STRATEGIC REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 4 -

Reserves policy

The Unrestricted Fund represents the unrestricted funds arising from past results.

The Trustees are satisfied that the balance of the Fund is an acceptable level of reserves given the nature of receipts against expenditure.

Following the significant legacies and donations received in the past few years, the trustees have resolved to investigate and undertake a number of projects as outlined in the Trustees report and will reduce reserves to £100,000.

The trustees are delighted to have made valuable education contributions to the wider community as a result of this income and hope to be able to do so for many years to come.

The trustees feel that the activity reflects the profile and standing within the wider community. The impact for future years' expenditure is self evident and the trustees would like to record their appreciation for all the financial support received from benefactors during the course of the year.

The reserves, being the net current assets of the charity, stand at £546,532 (2024 £341,070) of which £471,352, are unrestricted and £75,000 are restricted.

Major risks

Risk review

The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the Trust, and are satisfied that systems are in place to manage our exposure to the major risks.

The major risks faced by the charity are principally those related to the implementation of the operations of the charity and the execution of the restoration of old structures and trains.

These risks are mitigated by the trustees implementing relevant policies to ensure the smooth running of the charity and its restorations works carried out.

Report back and review procedures strengthen these safeguards to ensure public benefit is achieved.

TANFIELD RAILWAY TRUST LIMITED
TRUSTEES' ANNUAL REPORT REPORT (INCLUDING DIRECTOR'S REPORT AND STRATEGIC REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 5 -
Structure, governance and management

Tanfield Railway Trust Ltd is constituted by Memorandum and Articles of Association and is a company limited by guarantee. It was incorporated on 1 st of August 1996 as a company and the company number is . It was registered as a charity on 13 th of November 1998 with a charity number . In the event of the company being dissolved, each member's liability is limited to a contribution of no more than £1.

Recruitment and appointment of new trustees would be in line with the Memorandum and Articles of Association and with the consent of the trustees. The criteria set for the suitable candidate would be someone who is sensitive to the needs and demands of the organisation. There is no chief executive officer.

The day-to-day affairs are undertaken by the trustees. All major decisions are taken collectively by the trustees and all the trustees give of their time freely. The trustees are unpaid and details of any related party transactions are disclosed as applicable in the notes to the accounts. The arrangements for setting the pay of the charity’s employees are the sole domain of the trustees. The charity does not employ anyone at the moment.

New trustees receive induction and training although there are no formal policies

The trustees who served during the year and up to the signing of the financial statements are listed in the Reference and Administrative Details. Trustees who resigned before the signing are noted accordingly.

D W Smith (Chairman)
T M Hartley
R G Charlton
I Cowan
P Weightman
L Griffiths
P Vout
P Sheldon
B Duncan
P Lewis
J Hodgson
John Hofgson
F S Palmer
Recruitment and appointment of trustees

The Trustees' annual report r eport, including the strategic report, was approved by the Board of Trustees.

D W Smith (Chairman)
Trustee (Chairman)
14 March 2026
TANFIELD RAILWAY TRUST LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF TANFIELD RAILWAY TRUST LIMITED
- 6 -

I report to the trustees on my examination of the financial statements of Tanfield Railway Trust Ltd ('the charity') for the year ended 31 Jul y 202 5.

Responsibilities and basis of report

As the trustees of the Charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).

Having satisfied myself that the accounts of the charity (and the company for the proposes of company law) 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 the 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

Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ACA, which is one of the listed bodies.

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 that in any material respect:

1

accounting records were not kept in respect of the Income Funds as required by section 386 of the 2006 Act; or

2

the financial statements do not accord with those records; or

3

the financial statements 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 financial statements 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).

TANFIELD RAILWAY TRUST LIMITED
INDEPENDENT EXAMINER'S REPORT (CONTINUED)
TO THE TRUSTEES OF TANFIELD RAILWAY TRUST LIMITED
- 7 -

Stephen Murray

Dated: 14 March 2026
TANFIELD RAILWAY TRUST LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JULY 2025
- 8 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2025
2025
2025
2024
2024
2024
Notes
£
£
£
£
£
£
Income and endowments from:
Donations and legacies
3
237,880
-
237,880
61,537
-
61,537
Investments
4
23,609
-
23,609
12,317
-
12,317
Other income
5
1,248
-
1,248
1,248
-
1,248
Total income
262,737
-
262,737
75,102
-
75,102
Expenditure on:
Raising funds
6
114
-
114
-
-
-
Charitable activities
7
65,006
-
65,006
15,436
-
15,436
Total expenditure
65,120
-
65,120
15,436
-
15,436
Net income and movement in funds
197,617
-
197,617
59,666
-
59,666
Reconciliation of funds:
Fund balances at 1 August 2024
324,373
75,000
399,373
264,707
75,000
339,707
Fund balances at 31 July 2025
521,990
75,000
596,990
324,373
75,000
399,373

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

TANFIELD RAILWAY TRUST LIMITED
BALANCE SHEET
AS AT
31 JULY 2025
31 July 2025
- 9 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
14
50,458
58,303
Current assets
Stocks
15
1,000
1,000
Debtors
16
1,247
-
Cash at bank and in hand
545,545
341,270
547,792
342,270
Creditors: amounts falling due within one year
17
(1,260)
(1,200)
Net current assets
546,532
341,070
Total assets less current liabilities
596,990
399,373
Net assets excluding pension liability
596,990
399,373
The funds of the Income Funds
Restricted income funds
18
75,000
75,000
Unrestricted funds
521,990
324,373
596,990
399,373

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 July 2025.

The director s acknowledge t he i r 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.

TANFIELD RAILWAY TRUST LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JULY 2025
31 July 2025
- 10 -
The financial statements were approved by the trustees on 14 March 2026
D W Smith (Chairman)
Trustee (Chairman)
Company registration number 03232794 (England and Wales)
TANFIELD RAILWAY TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
- 11 -
1
Accounting policies
Charity information

Tanfield Railway Trust Ltd is a public benefit entity and a private company limited by guarantee, registered in

England and Wales and a registered charity in England and Wales. The address of the registered office is: Tanfield Railway, Marley Hill, Sunniside, Newcastle Upon Tyne, NE16 5ET

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) 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)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded top the nearest £

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

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

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees to further any of the

charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or

commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or

through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or

endowment funds.

TANFIELD RAILWAY TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
1
Accounting policies
(Continued)
- 12 -
1.4
Income

All incoming resources are included in the statement of financial activities when entitlement has

passed to the charity; it is probable that the economic benefits associated with the transaction

will flow to the charity and the amount can be reliably measured. The following specific policies

are applied to particular categories of income:

• income from donations or grants is recognised when there is evidence of entitlement to the

gift, receipt is probable and its amount can be measured reliably.

• legacy income is recognised when receipt is probable and entitlement is established.

• income from donated goods is measured at the fair value of the goods unless this is

impractical to measure reliably, in which case the value is derived from the cost to the donor

or the estimated resale value. Donated facilities and services are recognised in the

accounts when received if the value can be reliably measured. No amounts are included for

the contribution of general volunteers.

• income from contracts for the supply of services is recognised with the delivery of the

contracted service. This is classified as unrestricted funds unless there is a contractual

requirement for it to be spent on a particular purpose and returned if unspent, in which case

it may be regarded as restricted.

1.5
Expenditure

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any

VAT which cannot be fully recovered, and is classified under headings of the statement of

financial activities to which it relates:

• expenditure on raising funds includes the costs of all fundraising activities, events,

non-charitable trading activities, and the sale of donated goods.

• e xpenditure on charitable activities includes all costs incurred by a charity in undertaking

activities that further its charitable aims for the benefit of its beneficiaries, including those

support costs and costs relating to the governance of the charity apportioned to charitable

activities.

• other expenditure includes all expenditure that is neither related to raising funds for the

charity nor part of its expenditure on charitable activities.

TANFIELD RAILWAY TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
1
Accounting policies
(Continued)
- 13 -
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.

The charity has elected not to depreciate fixtures and fittings, as the value is immaterial compared to the coalesced tangible assets.

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:

Freehold land and buildings
5%
Fixtures and fittings
0%

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 Income Funds 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
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.9
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.

1.10
Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charities balance sheet when th e charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

TANFIELD RAILWAY TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
1
Accounting policies
(Continued)
- 14 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are recognised at transaction price.

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 at transaction price.

Derecognition of financial liabilities

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

2
Critical accounting estimates and judgements

The preparation of the financial statements did not require management to make judgements, estimates or assumptions that affect the amounts reported, besides the valuation of the charities freehold property at the year end.

3
Income from donations and legacies
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Donations and gifts
27,861
31,747
Legacies receivable
205,019
19,790

Grants Receivable

5,000
10,000
237,880
61,537
Donations and gifts
Donations
27,861
31,747
27,861
31,747
TANFIELD RAILWAY TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
3
Income from donations and legacies
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
(Continued)
- 15 -
Legacies receivable
Legacies receivable
205,019
19,790
205,019
19,790
Grants receivable for core activities
Durham County Council
5,000
-
Catherine Cookson Charitable Trust
-
10,000
5,000
10,000
4
Income from investments
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Rental income
18,000
12,000
Interest receivable
5,609
317
23,609
12,317
5
Other income
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£

Rechargeable Expenses

1,248
1,248
TANFIELD RAILWAY TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 16 -
6
Expenditure on raising funds
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Fundraising and publicity
Advertising
114
-
7
Expenditure on charitable activities
Expenditure on charitable activities
Expenditure on charitable activities
2025
2024
£
£
Direct costs
Depreciation and impairment
7,845
7,845

Rates

2,695
2,737

Materials

7,620
673
18,160
11,255
Grant funding of activities (see note 8)
35,679
-
Share of support and governance costs (see note 9)
Support
9,907
2,981
Governance
1,260
1,200
65,006
15,436
Analysis by fund
Unrestricted funds
65,006
15,436
8
Grants payable
Expenditure on charitable activities
2025
£
Grants to institutions:
Tanfield Railway Company LTD
35,679
TANFIELD RAILWAY TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
8
Grants payable
(Continued)
- 17 -
-
9
Support costs
Support costs
Governance costs
2025
Support costs
Governance costs
2024
£
£
£
£
£
£

Cleaning

1,248
-
1,248
1,248
-
1,248

General office

575
-
575
533
-
533
Statutory legal and professional fees
8,084
-
8,084
1,200
-
1,200
Accountancy
-
1,260
1,260
-
1,200
1,200
9,907
1,260
11,167
2,981
1,200
4,181
Analysed between
Charitable activities
9,907
1,260
11,167
2,981
1,200
4,181

Governance costs includes payments to the independent examiner of £1,260 (2024: £1,200).

10
Net movement in funds
2025
2024
£
£
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets
7,845
7,845
11
Trustees

No remuneration or other benefits from employment with the charity or a related entity were

received by the trustees. No expenses were reimbursed to the trustees.

12
Employees
2025
2024
Number
Number
Total
0
0
There were no employees whose annual remuneration was more than £60,000.
TANFIELD RAILWAY TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
12
Employees
(Continued)
- 18 -

13
Taxation

Tanfield Railway Trust Ltd is a registered charity and therefore is not liable to income tax or

corporation tax on income derived from its charitable activities, as it falls within the various

exemptions available to registered charities.

14
Tangible fixed assets
Freehold land and buildings
Fixtures and fittings
Total
£
£
£
Cost
At 1 August 2024
155,657
1,810
157,467
At 31 July 2025
155,657
1,810
157,467
Depreciation and impairment
At 1 August 2024
99,164
-
99,164
Depreciation charged in the year
7,845
-
7,845
At 31 July 2025
107,009
-
107,009
Carrying amount
At 31 July 2025
48,648
1,810
50,458
At 31 July 2024
56,493
1,810
58,303
15
Stocks
2025
2024
£
£
Raw materials and consumables
1,000
1,000
TANFIELD RAILWAY TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 19 -
16
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,247
-
17
Creditors: amounts falling due within one year
2025
2024
£
£
Accruals and deferred income
1,260
1,200
18
Restricted funds

The restricted funds of the charity compri se the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be use d.

At 1 August 2024
At 31 July 2025
£
£
75,000
75,000
Previous year:
At 1 August 2023
At 31 July 2024
£
£
Match funding to unlock development projects
75,000
75,000

The fund is used to unlock development projects for the benefit of the Tanfield Railway, such as construction of or improvements to museum or storage buildings, land acquisition, or other major investments in the Tanfield Railway to further the educational aims of Tanfield Railway Trust.

TANFIELD RAILWAY TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 20 -
19
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 August 2024
Incoming resources
Resources expended
At 31 July 2025
£
£
£
£
The Professor FW Hampson Fund
-
200,000
-
200,000
General funds
324,373
62,737
(65,120)
321,990
324,373
262,737
(65,120)
521,990
Previous year:
At 1 August 2023
Incoming resources
Resources expended
At 31 July 2024
£
£
£
£
General funds
264,707
75,102
(15,436)
324,373
20
Analysis of net assets between funds
Unrestricted
Restricted
Total
funds
funds
2025
2025
2025
£
£
£
At 31 July 2025:
Tangible assets
50,458
-
50,458
Current assets/(liabilities)
471,532
75,000
546,532
521,990
75,000
596,990
Unrestricted
Restricted
Total
funds
funds
2024
2024
2024
£
£
£
At 31 July 2024:
Tangible assets
58,303
-
58,303
Current assets/(liabilities)
266,070
75,000
341,070
324,373
75,000
399,373
TANFIELD RAILWAY TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 21 -
21
Related party transactions

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

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