Barrow Hill Engine Shed Society Limited - Charities report

REGISTERED COMPANY NUMBER: 03374025 (England and Wales)

REGISTERED CHARITY NUMBER: 1065632

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

BARROW HILL ENGINE SHED SOCIETY LIMITED

Page

Report of the Trustees

1

to

3

Independent Examiner's Report

4

Statement of Financial Activities

5

Balance Sheet

6

Notes to the Financial Statements

7

to

13

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 31 December 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 company's objective, for which the charity was established, is to preserve the locomotive engine shed at Barrow Hill, Staveley, which is Britain's only surviving operational roundhouse. A roundhouse is an engine shed featuring a central turntable, which is used to turn locomotives and to give access to numerous storage tracks within the building. The site is operated as a museum and also provides locomotive storage and repair and maintenance facilities to commercial operators

Barrow Hill Limited is a 100% owned trading subsidiary of Barrow Hill Engine Shed Society Limited, and provides funds for the parent by gift aid. All trading activities are undertaken by Barrow Hill Limited, with the charity being responsible for the major restoration and enhancement of the site and buildings.

Public benefit

The charity carries out its activities in order to bring benefit to the general public. It brings real historical and educational value as it aims to educate the public about the history of the site in various ways. The Museum and Collections department stages public displays and exhibitions. Barrow Hill is an Accredited Museum, recognised as such by Arts Council England under their Accreditation Scheme for museums. The site is open to the public each weekend from March to December.

The trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

This year continues on from the success of previous years and there has been significant progress achieved all thanks to the continuing hard work of team members and volunteers.

We are happy to see the site progress and the finances kept in a fantastic state thanks to the commercial arm of Barrow Hill Ltd, who manage the daily operations.

We held the Annual General Meeting on the 28th November, 2025 which was well attended.

The Trustees continue to meet regularly to oversee the structure and governance of the BHESS Charity and view the state of affairs, resources, plus the income and expenditure performance of Barrow Hill Ltd.

Much progress continues to be made all around the site thanks to the continued support by members working in groups or as individual volunteers who are doing a brilliant job either maintaining the Roundhouse, rail vehicles, the outstanding signal box and other key areas like the shop, cafe and the archives.

One of the stand out events from this year was our Rail 200 weekend in October when we hired-in the world famous steam locomotive Flying Scotsman (courtesy of the National Railway Museum). The locomotive pulled packed trains on both days. All the organisers including the General Manager, Marketing, and Roundhouse volunteers made it a weekend to remember - the final result brought in some very healthy revenue.

After lengthy scrutiny by Aviva, our insurers, they paid out to cover the loss of stolen parts etc. following a break in and theft connected with 41708 the rebuild of which is progressing well as it continues being overhauled at Tyseley Locomotive Works, Birmingham.

Throughout the year other events did very well including the Garden Railway event and the long-standing Rail Ale festival is still bringing in the crowds and supporting Barrow Hill's annual revenue.

Commercial activity is strong and growing and we were fortunate to gain a large wagon stabling contract. Network Rail's weed spray train stabled with us for the first time whilst working in the area and it was gratifying to witness once again regular departures every night from the depot controlled by Barrow Hill's own staff.

The site tenants all reported steady business through the year which in turn provides Barrow Hill with reliable income. The HNRC business has been sold and bought by leading rail company Swietelsky in early 2025 who have now signed another long term lease to stay at Barrow Hill.

Building work on the brand new DRIIVe Innovation Centre started in the middle of the year signalling another positive move for the fortunes of Barrow Hill as we continue our quest to protect the past and build the future. Getting the project agreed, started and underway was in no small part due to Barrow Hill Ltd's perseverance in driving the project forward which we hope will provide regular revenue safeguarding the future of the Roundhouse.

The membership remains strong and increasing in numbers.

The Trustees retiring by rotation were Professor Mark Robinson and also Sandra Crawley and Sandra indicated her willingness to be reappointed. The members voted unanimously to reappoint Sandra Crawley.

Prior to this year's AGM, Professor Mark Robinson stepped down as Chairman and resigned as a Trustee.

Overall net expenditure for 2025 totalled £288,432 including depreciation charge of £103,696 and the annual bridge maintenance (£5,000).

Overall net income for 2025 amounted to £112,858. The principal non-NLHF element comprised donations from Barrow Hill Ltd (£95,145), gain on sale of assets (£1,100), membership subscriptions and donations (£12,055).

The society has received notification from Barrow Hill Ltd that it is transferring £75,791 after the year end to the society.

FINANCIAL REVIEW

Financial position

The reserves policy of the Council of Management is to maximise income so as to provide reserves for further development and refurbishment of the site and to enable major repairs to be carried out. Closing reserves of £358,620 are sufficient for this purpose.

Reserves policy

The Charity's reserves policy is to attempt to ensure that there are sufficient funds available to meet the anticipated expenditure requirements for a minimum period of 12 months.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is a charitable company limited by guarantee and it was incorporated on 21 May 1997. The company was established under a Memorandum and articles of Association.

Recruitment and appointment of new trustees

New trustees are either elected by the Council of Management at a Trustees' Meeting or they are elected at the Annual General Meeting. Additional Trustees may be co-opted during the year by the Council of Management subject to their re-election at the Annual General Meeting.

Induction and training of new trustees

New Trustees are inducted at their first Council of Management meeting when the operation of the Charity is explained to them. They are also given copies of the minutes of previous meetings and relevant Charity Commission publications. New Trustees are familiar with the annual accounts as they are required to be members of the Charity when they are appointed and whilst they serve on the Council of Management.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

03374025 (England and Wales)

Registered Charity number

1065632

Registered office

Barrow Hill Roundhouse

Railway Centre, Campbell Drive

Barrow Hill

Staveley

Derbyshire

S43 2PR

Trustees

P Beardsley Retired

M Brailsford Train Planner

Mrs S Crawley Retired

R D Oxborough Food Manufacturer

Professor A M Robinson Professor (resigned 28.11.25)

R A Burgess Director

Company Secretary

M J Allcock

Independent Examiner

Hewitt Card Limited

Chartered Certified Accountants

70-72 Nottingham Road

Mansfield

Nottinghamshire

NG18 1BN

Approved by order of the board of trustees on 20 August 2026 and signed on its behalf by:

R A Burgess - Trustee

Independent examiner's report to the trustees of Barrow Hill Engine Shed Society Limited ('the Company')

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's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1.	accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

2.	the accounts do not accord with those records; or

3.	the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4.

the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Hewitt Card Chartered Certified Accountants

Hewitt Card Limited

Chartered Certified Accountants

70-72 Nottingham Road

Mansfield

Nottinghamshire

NG18 1BN

20 August 2026

31.12.25

31.12.24

Unrestricted

Restricted

Total

funds

Notes

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

3

107,198

-

107,198

113,988

Investment income

4

4,560

-

4,560

5,683

Other income

1,100

-

1,100

24,000

Total

112,858

-

112,858

143,671

EXPENDITURE ON

Charitable activities

5

Activities undertaken directly

172,865

-

172,865

172,385

Depreciation and other similar costs

32,481

71,215

103,696

102,779

Governance costs

11,871

-

11,871

3,112

Total

217,217

71,215

288,432

278,276

NET INCOME/(EXPENDITURE)

(104,359

)

(71,215

)

(175,574

)

(134,605

)

RECONCILIATION OF FUNDS

Total funds brought forward

357,468

176,726

534,194

668,799

TOTAL FUNDS CARRIED FORWARD

253,109

105,511

358,620

534,194

31.12.25

31.12.24

Unrestricted

Restricted

Total

funds

Notes

£

FIXED ASSETS

Tangible assets

10

149,630

105,512

255,142

332,800

Investments

11

1

-

1

149,631

105,512

255,143

332,801

CURRENT ASSETS

Debtors

12

9,454

-

9,454

105

Cash at bank

147,411

-

147,411

224,477

156,865

-

156,865

224,582

CREDITORS

Amounts falling due within one year

13

(53,388

)

-

(53,388

)

(23,189

)

NET CURRENT ASSETS

103,477

-

103,477

201,393

TOTAL ASSETS LESS CURRENT LIABILITIES

253,108

105,512

358,620

534,194

NET ASSETS

253,108

105,512

358,620

534,194

FUNDS

14

Unrestricted funds

253,108

357,468

Restricted funds

105,512

176,726

TOTAL FUNDS

358,620

534,194

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a)	ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

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

The financial statements were approved by the Board of Trustees and authorised for issue on 20 August 2026 and were signed on its behalf by:

R A Burgess - Trustee

1.	CHARITY STATUS

The charity is a charity limited by guarantee and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £5 towards the assets of the charity in the event of liquidation

2.	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, with the exception of investments which are included at market value.

Financial Reporting Standard 102 - reduced disclosure exemptions

The charitable company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

•

the requirements of Section 7 Statement of Cash Flows.

Income and endowments

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.

Donations and legacies

Donations are recognised when the charity has receives them. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

Grants receivable

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Investment income

Investment income is recognised on a receivable basis.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources.

Governance costs

These include the costs attributable to the charity's compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

25% on cost and 10% on cost

Plant and machinery

-

33.3% on cost and 10% on cost

Fixtures and fittings

-

25% on cost

Individual fixed assets costing £500 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

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

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

3.	DONATIONS AND LEGACIES

31.12.25

31.12.24

£

Donations

107,198

113,988

4.	INVESTMENT INCOME

31.12.25

31.12.24

£

Deposit account interest

4,560

5,683

5.	CHARITABLE ACTIVITIES COSTS

Support

Direct

costs (see

Costs

note 6)

Totals

£

Activities undertaken directly

172,855

10

172,865

Depreciation and other similar costs

103,696

-

103,696

Governance costs

-

11,871

276,551

11,881

288,432

6.	SUPPORT COSTS

Governance

Finance

costs

Totals

£

Activities undertaken directly

10

-

10

Governance costs

-

11,871

10

11,871

11,881

7.	NET INCOME/(EXPENDITURE)

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

31.12.25

31.12.24

£

Depreciation - owned assets

103,696

102,780

Other operating leases

4,298

3,958

Surplus on disposal of fixed assets

(1,100

)

(24,000

)

8.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2025 nor for the year ended 31 December 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2025 nor for the year ended 31 December 2024.

9.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

funds

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

113,988

-

113,988

Investment income

5,683

-

5,683

Other income

24,000

-

24,000

Total

143,671

-

143,671

EXPENDITURE ON

Charitable activities

Activities undertaken directly

171,566

819

172,385

Depreciation and other similar costs

31,565

71,214

102,779

Governance costs

3,112

-

3,112

Total

206,243

72,033

278,276

NET INCOME/(EXPENDITURE)

(62,572

)

(72,033

)

(134,605

)

RECONCILIATION OF FUNDS

Total funds brought forward

420,040

248,759

668,799

TOTAL FUNDS CARRIED FORWARD

357,468

176,726

534,194

10.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

Totals

£

COST

At 1 January 2025

1,668,072

395,873

240,369

2,304,314

Additions

-

26,038

-

26,038

Disposals

-

(1,200

)

-

(1,200

)

At 31 December 2025

1,668,072

420,711

240,369

2,329,152

DEPRECIATION

At 1 January 2025

1,448,601

299,040

223,873

1,971,514

Charge for year

76,331

22,071

5,294

103,696

Eliminated on disposal

-

(1,200

)

-

(1,200

)

At 31 December 2025

1,524,932

319,911

229,167

2,074,010

NET BOOK VALUE

At 31 December 2025

143,140

100,800

11,202

255,142

At 31 December 2024

219,471

96,833

16,496

332,800

Restriction on title and pledged as security

Land and buildings with a carrying amount of £429,253 has been pledged as security. A full title guarantee charge by way of a legal mortgage has been raised over the property as part of the Heritage Lottery Fund grant agreement terms. This is security over any liabilities or obligations that may become due to the chargor.

11.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

MARKET VALUE

At 1 January 2025 and 31 December 2025

1

NET BOOK VALUE

At 31 December 2025

1

At 31 December 2024

1

There were no investment assets outside the UK.

The company's investments at the balance sheet date in the share capital of companies include the following:

Barrow Hill Limited

Registered office: United Kingdom

Nature of business: The operation of Barrow Hill Roundhouse

%

Class of share:

holding

Ordinary

100

12.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

Amounts owed by group undertakings

105

VAT

9,349

-

9,454

105

13.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

Trade creditors

39,382

6,103

VAT

-

3,216

Accrued expenses

14,006

13,870

53,388

23,189

14.	MOVEMENT IN FUNDS

Net

movement

At

At 1.1.25

in funds

31.12.25

£

Unrestricted funds

General fund

324,188

(101,699

)

222,489

Designated fund BH Green

33,280

(2,661

)

30,619

357,468

(104,360

)

253,108

Restricted funds

Heritage Lottery Fund - Restricted Fixed

Assets

11,848

(5,923

)

5,925

Heritage Lottery Fund

157,045

(62,991

)

94,054

Museum Development East midlands

-Display Cases

7,833

(2,300

)

5,533

176,726

(71,214

)

105,512

TOTAL FUNDS

534,194

(175,574

)

358,620

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

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

112,858

(214,557

)

(101,699

)

Designated fund BH Green

-

(2,661

)

(2,661

)

112,858

(217,218

)

(104,360

)

Restricted funds

Heritage Lottery Fund - Restricted Fixed

Assets

-

(5,923

)

(5,923

)

Heritage Lottery Fund

-

(62,991

)

(62,991

)

Museum Development East midlands

-Display Cases

-

(2,300

)

(2,300

)

-

(71,214

)

(71,214

)

TOTAL FUNDS

112,858

(288,432

)

(175,574

)

Comparatives for movement in funds

Net

movement

At

At 1.1.24

in funds

31.12.24

£

Unrestricted funds

420,040

(62,572

)

357,468

Restricted funds

Heritage Lottery Fund - Restricted Fixed

Assets

17,771

(5,923

)

11,848

Heritage Lottery Fund

220,036

(62,991

)

157,045

Museum Development East midlands

-Display Cases

10,133

(2,300

)

7,833

Leicestershire County Council

819

(819

)

-

248,759

(72,033

)

176,726

TOTAL FUNDS

668,799

(134,605

)

534,194

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

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

143,671

(206,243

)

(62,572

)

Restricted funds

Heritage Lottery Fund - Restricted Fixed

Assets

-

(5,923

)

(5,923

)

Heritage Lottery Fund

-

(62,991

)

(62,991

)

Museum Development East midlands

-Display Cases

-

(2,300

)

(2,300

)

Leicestershire County Council

-

(819

)

(819

)

-

(72,033

)

(72,033

)

TOTAL FUNDS

143,671

(278,276

)

(134,605

)

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

Net

movement

At

At 1.1.24

in funds

31.12.25

£

Unrestricted funds

420,040

(166,932

)

253,108

Restricted funds

Heritage Lottery Fund - Restricted Fixed

Assets

17,771

(11,846

)

5,925

Heritage Lottery Fund

220,036

(125,982

)

94,054

Museum Development East midlands

-Display Cases

10,133

(4,600

)

5,533

Leicestershire County Council

819

(819

)

-

248,759

(143,247

)

105,512

TOTAL FUNDS

668,799

(310,179

)

358,620

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

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

256,529

(423,461

)

(166,932

)

Restricted funds

Heritage Lottery Fund - Restricted Fixed

Assets

-

(11,846

)

(11,846

)

Heritage Lottery Fund

-

(125,982

)

(125,982

)

Museum Development East midlands

-Display Cases

-

(4,600

)

(4,600

)

Leicestershire County Council

-

(819

)

(819

)

-

(143,247

)

(143,247

)

TOTAL FUNDS

256,529

(566,708

)

(310,179

)

15.	CONTINGENT LIABILITIES

At the period end the company had a contingent liability amounting to £5,139 (2022 - £13,257) in respect of the VAT owed under the joint VAT registration with Barrow Hill Limited.

16.	RELATED PARTY DISCLOSURES

The charitable company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

There were no related party transactions for the year ended 31 December 2025.