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Company registration number: 11773904
Charity registration number: 1190609
East Lancashire Railway Preservation Society Limited
Trustees' Report and
Unaudited Financial Statements
For The Year Ended 31 December 2025
Ormesher & Co Bookkeeping & Accounts
East Lancashire Railway Preservation Society Limited
Contents
Contents

| Page
--- | ---
Reference and Administrative Details | 1
Trustees' Report | 2—4
Independent Examiner's Report | 5
Statement of Financial Activities (including Income and Expenditure Account) | 6
Comparative Statement of Financial Activities (including Income and Expenditure Account) | 7
Statement of Financial Position | 8
Notes to the Financial Statements | 9—15

Page 1
East Lancashire Railway Preservation Society Limited
Reference and Administrative Details
For The Year Ended 31 December 2025
Reference and Administrative Details

Trustees | Mr Ian Aspey - Chair
| Mr David Wright - Vice Chair
| Mr Gerald Atherton - Vice Chair
| Mr Peter Colpman - Membership Secretary
| Mr Nigel Barnes - Assets Director
| Mr John Tate
| Mr Keith Shilton
| Mr Donald Vause
| Mrs Louise Newport
| Mr Glen Newport
| Mr Michael Wood
Charity Number | 1190609
Company Number | 11773904
Principal Address | Bolton Street Station
| Bolton Street
| Bury
| Lancashire
| BL9 0EY
Registered Office | 33 Croft Meadow
| Bamber Bridge
| Preston
| Lancashire
| PR5 8HX
Independent Examiner | Janet Barton AATQB

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East Lancashire Railway Preservation Society Limited
Company No. 11773904
Trustees' Report For The Year Ended 31 December 2025
Trustees' Report
The trustees present their report and the financial statements for the year ended 31 December 2025.
Objectives and Activities
Aims and Objectives
Our charity’s purposes as set out in the Objects clause in the company’s Articles of Association are to:

- advance education for the benefit of the public in the history, heritage construction, engineering and operation of the East Lancashire Railway in such ways and by such means as the trustees shall determine and by supporting the charitable work of the East Lancashire Light Railway Company Limited (registered charity number 1186648).

The aims of our charity are:

1. to preserve the whole or part of the ex-British Railways branch line between Rawtenstall and Castleton Junction through Bury together with its connection to the National Rail network;
2. to operate, restore, maintain and improve locomotives, rolling stock, infrastructure and all other objectives of the said railway;
3. to encourage volunteer activity in the furtherance of its aims.

Ensuring our work delivers our aims
We review our aims, objectives and activities each year. This review looks at what we have achieved and the outcomes of our work in the previous twelve months. The review also helps us ensure our aim, objectives and activities remain focused on our stated purposes. We have referred to the guidance provided by the Charity Commission when reviewing our aims and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.
The focus of our work
Our main objectives for the year were to support the East Lancashire Light Railway Company Limited (ELLRCo) through volunteer recruitment and funding.
Public Benefit
The East Lancashire Railway Preservation Society Limited meets the definition of a public benefit entity under FR 102.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The trustees confirm that they have complied with the requirements of Section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit.
Financial Review
Financial Position
At 31 December 2025, the Society held total funds of £124,451 (2024: £114,836), representing an increase of £9,615 during the year.
Unrestricted funds totalled £115,458 (2024: £108,621). This includes a designated fund of £51,500, known as The Crab Locomotive Fund, which has been set aside by the Trustees to support the restoration of Hughes-Fowler LMS locomotive No. 13065, “The Crab”. The remaining unrestricted funds are available to support the Society’s ongoing charitable activities.
Restricted funds at the year end amounted to £8,993 (2024: £6,215). These funds relate entirely to donations received specifically for the Crab locomotive restoration project and may only be applied for that purpose.
The Society maintained a strong cash position at the year end, with cash at bank and in hand of £239,805 (2024: £230,779). Total current assets amounted to £250,164 (2024: £243,365). After allowing for current liabilities of £42,168 (2024: £48,079), net current assets were £207,996 (2024: £195,286).
Creditors falling due after more than one year totalled £83,545 (2024: £80,450). These balances primarily represent deferred income received in advance and do not represent external borrowing.
The Trustees consider the financial position at the year end to be sound and appropriate to support the Society’s charitable objectives.
Going Concern
...CONTINUED
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East Lancashire Railway Preservation Society Limited
Trustees' Report (continued)
For The Year Ended 31 December 2025
Financial Position - continued
After reviewing the Society’s financial position, including its level of unrestricted reserves, cash balances, and forecast commitments, the Trustees have a reasonable expectation that the Society has adequate resources to continue in operational existence for the foreseeable future.
Accordingly, the Trustees continue to adopt the going concern basis in preparing the financial statements. No material uncertainties have been identified that may cast significant doubt on the Society’s ability to continue as a going concern.
Structure, Governance and Management
Governing Document
The organisation is a charitable company limited by guarantee, incorporated in January 2019, and registered as a charity in July 2020. The company was established under a Memorandum and Articles of Association which established the objects and powers of the charitable company. In the event of the company being wound up, members are required to contribute an amount not exceeding £1.
All Directors are also Trustees of the charity for the purpose of charity law and under the requirements of the company’s Articles of Association. Under those requirements, any director is appointed for a period of three years after which they must be re-elected at the next Annual General Meeting.
All Directors/Trustees give their time voluntarily and receive no benefits from the charity. Any expenses claimed from the charity must be supported by appropriate receipts and have been pre-approved as a legitimate expense under the financial management of the charity.
Risk Management
The Board has conducted a review of the major risks to which the charity is exposed and established policies and procedures to minimise any adverse risk. This covers both data and financial risks. Risks and mitigating actions are kept under constant review and updated as appropriate.
Organisational Structure
The business of the charity is administered by the Board who meet on a regular basis, normally monthly. Certain members of the Board have specific responsibilities based on their experience and professional backgrounds.
The Board has appointed an ‘Executive’ which consists of the Chair, two Vice-Chairs and a Secretary to carry out the work of the charity where the full Board is unable to operate due to timing or other reasons.
Statement of Trustees' Responsibilities
The trustees (who are also the directors of East Lancashire Railway Preservation Society Limited for the purposes 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. Under company law the trustees must not approve the financial statement unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing the financial statements the trustees are required to:

- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgments and accounting estimates that are reasonable and prudent; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at anytime the financial position of the charitable company and to enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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East Lancashire Railway Preservation Society Limited
Trustees' Report (continued)
For The Year Ended 31 December 2025
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Members of the Board
The Board members who are also Directors and Trustees who served during the period of this report are set out at the beginning of this report. In accordance with company law, as the directors, we certify that:

- so far as we are aware, there is no relevant audit information of which the company’s Independent Financial Examiner is aware; and
- as the directors of the company, we have taken all the steps that we ought to have taken in order to make ourselves aware of any such information.

Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The trustees' report was approved by the board of trustees and signed on its behalf by:

Mr Ian Aspey Trustee
16/03/2026

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East Lancashire Railway Preservation Society Limited
Independent Examiner's Report to the Trustees of East Lancashire Railway Preservation Society Limited
For The Year Ended 31 December 2025
Independent Examiner's Report to the Trustees of East Lancashire Railway Preservation Society Limited
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2025.
Responsibilities and Basis of Report
As the charity 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.
Janet Barton AATQB
01/03/2026
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East Lancashire Railway Preservation Society Limited
Statement of Financial Activities (including Income and Expenditure Account)
For The Year Ended 31 December 2025
Statement of Financial Activities (including Income and Expenditure Account)

|  |  | 2025 | 2024
--- | --- | --- | --- | ---
| Unrestricted funds | Restricted funds | Total funds | Total funds
| Notes | £ | £ | £ | £
INCOME AND ENDOWMENTS FROM:
Donations and legacies | 3 | 66,250 | 2,778 | 69,028 | 49,781
Other trading activities | 4 | 2,129 | - | 2,129 | 1,570
Investments | 5 | 4,810 | - | 4,810 | 4,667
|  | 73,189 | 2,778 | 75,967 | 56,018
EXPENDITURE ON:
Charitable activities: | 7
Our Aims and Objectives |  | (66,352 ) | - | (66,352 ) | (53,307 )
NET INCOME |  | 6,837 | 2,778 | 9,615 | 2,711
NET MOVEMENT IN FUNDS |  | 6,837 | 2,778 | 9,615 | 2,711
RECONCILIATION OF FUNDS:
Total funds brought forward |  | 108,621 | 6,215 | 114,836 | 112,125
TOTAL FUNDS CARRIED FORWARD | 15 | 115,458 | 8,993 | 124,451 | 114,836

The notes on pages 9 to 14 form part of these financial statements.
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East Lancashire Railway Preservation Society Limited
Comparative Statement of Financial Activities (including Income and Expenditure Account)
For The Year Ended 31 December 2025
Comparative Statement of Financial Activities (including Income and Expenditure Account)

|  |  | 2024
--- | --- | --- | ---
| Unrestricted funds | Restricted funds | Total funds
| Notes | £ | £ | £
INCOME AND ENDOWMENTS FROM:
Donations and legacies | 3 | 43,566 | 6,215 | 49,781
Other trading activities | 4 | 1,570 | - | 1,570
Investments | 5 | 4,667 | - | 4,667
|  | 49,803 | 6,215 | 56,018
EXPENDITURE ON:
Charitable activities: | 7
Our Aims and Objectives |  | (53,307 ) | - | (53,307 )
NET INCOME |  | (3,504 ) | 6,215 | 2,711
NET MOVEMENT IN FUNDS |  | (3,504 ) | 6,215 | 2,711
RECONCILIATION OF FUNDS:
Total funds brought forward |  | 112,125 | - | 112,125
TOTAL FUNDS CARRIED FORWARD | 15 | 108,621 | 6,215 | 114,836

The notes on pages 9 to 14 form part of these financial statements.
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East Lancashire Railway Preservation Society Limited
Statement of Financial Position
As At 31 December 2025
Statement of Financial Position

|  |  | 2025 | 2024
--- | --- | --- | --- | ---
| Unrestricted funds | Restricted funds | Total funds | Total funds
| Notes | £ | £ | £ | £
FIXED ASSETS
CURRENT ASSETS
Stocks | 11 | 1,290 | - | 1,290 | 1,869
Debtors | 12 | 9,069 | - | 9,069 | 10,717
Cash at bank and in hand |  | 230,812 | 8,993 | 239,805 | 230,779
|  | 241,171 | 8,993 | 250,164 | 243,365
Creditors: Amounts Falling Due Within One Year | 13 | (42,168 ) | - | (42,168 ) | (48,079 )
NET CURRENT ASSETS (LIABILITIES) |  | 199,003 | 8,993 | 207,996 | 195,286
TOTAL ASSETS LESS CURRENT LIABILITIES |  | 199,003 | 8,993 | 207,996 | 195,286
Creditors: Amounts Falling Due After More Than One Year | 14 | (83,545 ) | - | (83,545 ) | (80,450 )
NET ASSETS |  | 115,458 | 8,993 | 124,451 | 114,836
FUNDS OF THE CHARITY
Restricted Funds |  |  |  | 8,993 | 6,215
Unrestricted Funds |  |  |  | 115,458 | 108,621
TOTAL FUNDS | 15 |  |  | 124,451 | 114,836

For the year ending 31 December 2025 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
On behalf of the board

Mr Ian Aspey Trustee
16/03/2026

The notes on pages 9 to 14 form part of these financial statements.
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East Lancashire Railway Preservation Society Limited
Notes to the Financial Statements
For The Year Ended 31 December 2025
Notes to the Financial Statements
1. General Information
East Lancashire Railway Preservation Society Limited is a company limited by guarantee, incorporated in England & Wales, registered number 11773904 and registered charity number 1190609 . The registered office is 33 Croft Meadow , Bamber Bridge, Preston, Lancashire, PR5 8HX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements 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 charitable company is a Public Benefit Entity as defined by FRS 102.
2.2. Going Concern Disclosure
The trustees have not identified material uncertainties related to events or conditions that may cast significant doubt about the charitable company's ability to continue as a going concern, however, the going concern basis remains appropriate.
2.3. Fund Accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Designated funds comprise unrestricted funds that have been set aside by the trustees for a specific purpose.
Restricted funds are to be used for specific purposes as laid down by the donor.
2.4. Incoming Resources
All income is recognised once the company has entitlement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably.
The charity operates a membership scheme designed to support its charitable objectives. Members receive publications and access to discounted heritage railway travel, which supports public engagement with the history, heritage construction, engineering and operation of the East Lancashire Railway. Membership income is treated as income from charitable activities.
Any benefits received by members are incidental to the charity’s primary charitable purpose.
Grants are included in the statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the balance sheet.
Gifts donated for resale are included as income when they are sold. The Trustees acknowledge that they are assets of the company as soon as received but the minimal value of these assets makes it uneconomic to value them prior to sale.
No amounts are included in the financial statements for services donated by volunteers.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
2.5. Resources Expended
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.
Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds. Charitable activities are costs incurred on the company's charitable operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.
2.6. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Computer Equipment | 20% Straight Line

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East Lancashire Railway Preservation Society Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
2.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
Cost is determined using the first-in, first-out method. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Work in progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the statement of financial activities. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the statement of financial activities.
2.8. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
3. Income from Donations and Legacies

|  |  | 2025
--- | --- | --- | ---
| Unrestricted | Restricted | Total
| funds | funds | funds
| £ | £ | £
Donations and gifts | 3,194 | 2,778 | 5,972
Member subscriptions and sponsorships | 56,389 | - | 56,389
Gift aid | 6,667 | - | 6,667
| 66,250 | 2,778 | 69,028

|  |  | 2024
--- | --- | --- | ---
| Unrestricted | Restricted | Total
| funds | funds | funds
| £ | £ | £
Donations and gifts | 6,831 | 6,215 | 13,046
Member subscriptions and sponsorships | 25,960 | - | 25,960
Gift aid | 10,775 | - | 10,775
| 43,566 | 6,215 | 49,781

4. Income from Other Trading Activities

| 2025 | 2024
--- | --- | ---
| Unrestricted funds | Unrestricted funds
| £ | £
Income from other trading activities | 2,129 | 1,570

5. Investment Income
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East Lancashire Railway Preservation Society Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025

| 2025 | 2024
--- | --- | ---
| Unrestricted | Unrestricted
| funds | funds
| £ | £
Interest on short-term deposits | 4,810 | 4,667

6. Net Income/(Expenditure)
The net income is stated after charging/(crediting):

| 2025 | 2024
--- | --- | ---
| £ | £
Depreciation of tangible fixed assets - owned | - | 30

7. Analysis of Expenditure

|  |  |  | 2025
--- | --- | --- | --- | ---
| Activities undertaken directly | Grant funding of activities | Support costs (see note 8 ) | Total
| £ | £ | £ | £
Our Aims and Objectives | 33,494 | 27,485 | 5,373 | 66,352

|  |  |  | 2024
--- | --- | --- | --- | ---
| Activities undertaken directly | Grant funding of activities | Support costs (see note 8 ) | Total
| £ | £ | £ | £
Our Aims and Objectives | 31,400 | 14,967 | 6,940 | 53,307

8. Support Costs

| 2025
--- | ---
| Our Aims and Objectives
| £
Premises expenses | 9
General administration | 4,768
Governance costs | 596
| 5,373

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East Lancashire Railway Preservation Society Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025

| 2024
--- | ---
| Our Aims and Objectives
| £
Premises expenses | 214
General administration | 4,510
Depreciation | 30
Governance costs | 2,186
| 6,940

9. Average Number of Employees
Average number of employees during the year was: NIL (2024: NIL)
- -
10. Tangible Assets

| Fixtures & Fittings
--- | ---
| £
Cost
As at 1 January 2025 | 1,466
As at 31 December 2025 | 1,466
Depreciation
As at 1 January 2025 | 1,466
As at 31 December 2025 | 1,466
Net Book Value
As at 31 December 2025 | -
As at 1 January 2025 | -

11. Stocks

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Stock | 1,290 |  | 1,869

12. Debtors

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Due within one year
Other debtors | 9,069 |  | 10,717

13. Creditors: Amounts Falling Due Within One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Accruals and deferred income | 42,168 |  | 48,079

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East Lancashire Railway Preservation Society Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
14. Creditors: Amounts Falling Due After More Than One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Accruals and deferred income | 83,545 |  | 80,450

15. Movement in Funds

| As at 1 January 2025 | Income | Expenditure | As at 31 December 2025
--- | --- | --- | --- | ---
| £ | £ | £ | £
Unrestricted funds
General:
General unrestricted fund | 57,121 | 73,189 | (66,352 ) | 63,958
Designated:
The Crab Locomotive Fund | 51,500 | - | - | 51,500
Total unrestricted funds | 108,621 | 73,189 | (66,352 ) | 115,458
Restricted funds
Donations to the Crab restoration | 6,215 | 2,778 | - | 8,993
Total funds | 114,836 | 75,967 | (66,352 ) | 124,451

| As at 1 January 2024 | Income | Expenditure | Transfers | As at 31 December 2024
--- | --- | --- | --- | --- | ---
| £ | £ | £ | £ | £
Unrestricted funds
General:
General unrestricted fund | 112,125 | 49,803 | (53,307 ) | (51,500 ) | 57,121
Designated:
The Crab Locomotive Fund | - | - | - | 51,500 | 51,500
Total unrestricted funds | 112,125 | 49,803 | (53,307 ) | - | 108,621
Restricted funds
Donations to the Crab restoration | - | 6,215 | - | - | 6,215
Total funds | 112,125 | 56,018 | (53,307 ) | - | 114,836

16. Transactions with Trustees
During the year no Trustees received any remuneration or other benefits.
4 Trustees received reimbursement of expenses, already paid out personally by them on Trust business, amounting to £411 in the year (2024: £455)
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East Lancashire Railway Preservation Society Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025

| 2025 | 2024
--- | --- | ---
| £ | £

17. Related Party Disclosures
The charity has no related parties in a corporate legal sense but is linked, in its charitable aims, with the operating company of the ELR, the East Lancashire Light Railway Company Limited (ELLRCo). There was no overlap of trustees between the ELRPS and the ELLRCo.
18. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
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East Lancashire Railway Preservation Society Limited
Detailed Statement of Financial Activities (including Income and Expenditure Account)
For The Year Ended 31 December 2025
Detailed Statement of Financial Activities (including Income and Expenditure Account)

| 2025 | 2024
--- | --- | ---
| Total funds | Total funds
| £ | £
INCOME AND ENDOWMENTS FROM:
Donations and legacies
Donations from individuals | 5,972 | 13,046
Membership subscriptions | 56,389 | 25,960
Gift aid | 6,667 | 10,775
| 69,028 | 49,781
Other trading activities
Income from other trading activities | 2,129 | 1,570
| 2,129 | 1,570
Investments
Interest on short term deposits | 4,810 | 4,667
| 4,810 | 4,667
| 75,967 | 56,018
EXPENDITURE ON:
Charitable Activities:
Our Aims and Objectives
Advertising, marketing, direct mail and publicity | (22,443) | (23,139)
Support and administration costs | (11,051) | (8,261)
Grants to institutions | (27,485) | (14,967)
Repairs and maintenance | (9) | (214)
Insurance | (214) | (223)
Printing, postage and stationery | (76) | -
Postage | (367) | (330)
Advertising and marketing costs | (50) | -
Telecommunications and data costs | - | (5)
Accountancy fees | (3,349) | (3,130)
Legal fees | (364) | (413)
Subscriptions | (40) | (160)
Charitable donations | - | (100)
Sundry expenses | (308) | (149)
Depreciation | - | (30)
AGM / board meetings expenses | (596) | (2,186)
| (66,352) | (53,307)
| (66,352) | (53,307)
NET INCOME | 9,615 | 2,711

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