REGISTERED COMPANY NUMBER: 01171938 (England and Wales)

REGISTERED CHARITY NUMBER: 268204

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

EAST ANGLIA TRANSPORT MUSEUM SOCIETY

LIMITED(THE)

Page

Report of the Trustees

1

to

3

Independent Examiner's Report

4

Statement of Financial Activities

5

Balance Sheet

6

to

7

Cash Flow Statement

8

Notes to the Cash Flow Statement

9

Notes to the Financial Statements

11

to

17

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

The object of the charity is to establish & maintain for the benefit of the Nation an operating transport museum and for the like purpose to promote the permanent preservation of transport vehicles and equipment and items of general transport interest of actual or potential interest or scientific importance and educational value.

The trustees may carry out the objectives particularly by restoration e.g. Lowestoft Tramcar No. 14 of 1904 and Leyland Olympian L263 which was the last product to come from the Lowestoft factory of Eastern Coachworks. Both of which will be on public exhibition or otherwise used for public benefit.

In planning the activities the trustees kept in mind the Charity Commissions guidance at their meetings.

ACHIEVEMENTS AND PERFORMANCE

The charity has ongoing restoration of vehicles and continued development and maintenance of the land and buildings on the site. Visitor numbers were up approximately 5%.

FINANCIAL REVIEW

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.

The charity's total incoming resources for the year were £316,029 (2024 £272,803), and total net income/resources/expenditure before revaluation gains/losses were £87,344 (2024 £76,617).

The charity's total funds as at 31st December 2025 were £2,127,046 (2024 £2,039,702) of which £1,933,615 relates to the charity's tangible fixed assets (buildings, vehicles & equipment).

The trading company made a charitable donation of £50,000 to the society during the year increasing the donations received to £111,511 (2024 £50,613).

Restricted reserves were stated at £265,474.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

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.

Recruitment and appointment of new trustees

Trustees are appointed annually at the Annual General Meeting, Retiring trustees are eligible for re-election. Any vacancies arising between AGMs may be filled by the committee. At the AGM following their appointment they will be eligible to stand for election as a trustee.

Organisational structure

The committee (board of trustees) shall consist of a chairman, deputy chairman, secretary, treasurer and not less than seven but not more than eight ordinary committee members.

The committee administers the charity. The treasurer maintains the financial records of the charity.

The charity is controlled by its Memorandum and Articles of Association, and a Charity Commission Scheme dated 6th March 2004. The charity is a limited company, limited by guarantee, as defined by the Companies Act 2006. It was incorporated on 29th May 1974.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

01171938 (England and Wales)

Registered Charity number

268204

Registered office

Chapel Road

Carlton Colville

Lowestoft

Suffolk

NR33 8BL

Trustees

Mrs S A Jones

G Stoakes

C P Drage

S J Hobbs

A J Bertram

B R Drage (appointed 10.1.26)

G G W Edwards (appointed 31.5.25)

O A Harris

C Weight (appointed 2.8.25)

J Wooldridge (appointed 31.5.25)

G Woods (resigned 31.5.25)

I M Reed (resigned 3.1.25)

C Ramsden (resigned 31.5.25)

A Nightingale (resigned 31.12.25)

S Lamming (resigned 10.1.26)

R Alger

K Rodber DRECTOR (appointed 31.5.25) (resigned 12.6.25)

Company Secretary

S J Hobbs

Independent Examiner

Peter Boardman

Juler Tooke

Lothing House

Quay View Business Park

Barnards Way

Lowestoft

Suffolk

NR32 2HD

Approved by order of the board of trustees on 21 May 2026 and signed on its behalf by:

Mrs S A Jones - Trustee

Independent examiner's report to the trustees of East Anglia Transport Museum Society Limited(The) ('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

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Accounting Technicians, 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:

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.

Peter Boardman

The Association of Accounting Technicians

Juler Tooke

Lothing House

Quay View Business Park

Barnards Way

Lowestoft

Suffolk

NR32 2HD

21 May 2026

31.12.25

31.12.24

Unrestricted

Restricted

Total

Total

fund

fund

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

306,621

10,562

317,183

268,285

Other trading activities

2

595

-

595

325

Investment income

3

251

-

251

150

Other income

-

-

-

4,043

Total

307,467

10,562

318,029

272,803

EXPENDITURE ON

Raising funds

9,858

-

9,858

5,180

Charitable activities

Expenditure on charitable activities

203,272

15,555

218,827

191,006

Total

213,130

15,555

228,685

196,186

NET INCOME/(EXPENDITURE)

94,337

(4,993

)

89,344

76,617

RECONCILIATION OF FUNDS

Total funds brought forward

1,769,235

270,467

2,039,702

1,963,085

TOTAL FUNDS CARRIED FORWARD

1,863,572

265,474

2,129,046

2,039,702

31.12.25

31.12.24

Unrestricted

Restricted

Total

Total

fund

fund

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Intangible assets

7

7,340

-

7,340

7,340

Tangible assets

8

1,728,489

205,126

1,933,615

1,883,625

1,735,829

205,126

1,940,955

1,890,965

CURRENT ASSETS

Debtors

9

34,278

-

34,278

36,795

Cash at bank and in hand

128,091

60,348

188,439

162,797

162,369

60,348

222,717

199,592

CREDITORS

Amounts falling due within one year

10

(34,626

)

-

(34,626

)

(50,855

)

NET CURRENT ASSETS

127,743

60,348

188,091

148,737

TOTAL ASSETS LESS CURRENT LIABILITIES

1,863,572

265,474

2,129,046

2,039,702

NET ASSETS

1,863,572

265,474

2,129,046

2,039,702

FUNDS

13

Unrestricted funds

1,863,572

1,769,235

Restricted funds

265,474

270,467

TOTAL FUNDS

2,129,046

2,039,702

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 the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 21 May 2026 and were signed on its behalf by:

S A Jones - Trustee

Cash flows from operating activities

Cash generated from operations

1

98,567

57,849

Net cash provided by operating activities

98,567

57,849

Cash flows from investing activities

Purchase of tangible fixed assets

(63,176

)

(56,828

)

Sale of tangible fixed assets

-

4,043

Interest received

251

150

Net cash used in investing activities

(62,925

)

(52,635

)

Cash flows from financing activities

Loan repayments in year

(10,000

)

-

Net cash (used in)/provided by financing activities

(10,000

)

-

Change in cash and cash equivalents in the reporting period

25,642

5,214

Cash and cash equivalents at the beginning of the reporting period

162,797

-

Cash and cash equivalents at the end of the reporting period

188,439

162,797

1.	RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

31.12.25

31.12.24

£

£

Net income for the reporting period (as per the Statement of Financial Activities)

89,344

76,617

Adjustments for:

Depreciation charges

13,186

9,865

Profit on disposal of fixed assets

-

(4,043

)

Interest received

(251

)

(150

)

Decrease/(increase) in debtors

2,517

(36,795

)

(Decrease)/increase in creditors

(6,229

)

12,355

Net cash provided by operations

98,567

57,849

2.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.25

Cash flow

At 31.12.25

£

£

£

Net cash

Cash at bank and in hand

162,797

25,642

188,439

162,797

25,642

188,439

Debt

Debts falling due within 1 year

(38,500

)

10,000

(28,500

)

(38,500

)

10,000

(28,500

)

Total

124,297

35,642

159,939

**	LAST YEAR - MOVEMENT IN CASH AND CASH EQUIVALENTS

AS CALCULATED IN CASH FLOW STATEMENT

DOES NOT AGREE TO MOVEMENT PER BALANCE SHEET

COMPARE MOVEMENT ON CASH FLOW STATEMENT

5,214

TO

MOVEMENT PER BALANCE SHEET

CASH AND CASH EQUIVALENTS

162,797

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

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.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Charitable activities

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.

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

-

not provided

Plant and machinery

-

15% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

not provided

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.

2.	OTHER TRADING ACTIVITIES

31.12.25

31.12.24

£

£

Fundraising events

595

325

3.	INVESTMENT INCOME

31.12.25

31.12.24

£

£

Curr asset inv income

251

150

4.	NET INCOME/(EXPENDITURE)

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

31.12.25

31.12.24

£

£

Depreciation - owned assets

13,186

9,865

Hire of plant and machinery

1,862

3,328

Other operating leases

6,900

6,900

Surplus on disposal of fixed assets

-

(4,043

)

5.	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.

6.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

fund

fund

funds

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

227,040

41,245

268,285

Other trading activities

325

-

325

Investment income

150

-

150

Other income

4,043

-

4,043

Total

231,558

41,245

272,803

EXPENDITURE ON

Raising funds

5,180

-

5,180

Charitable activities

Expenditure on charitable activities

155,549

35,457

191,006

Total

160,729

35,457

196,186

NET INCOME

70,829

5,788

76,617

RECONCILIATION OF FUNDS

Total funds brought forward

1,698,406

264,679

1,963,085

TOTAL FUNDS CARRIED FORWARD

1,769,235

270,467

2,039,702

7.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 January 2025 and 31 December 2025

7,340

NET BOOK VALUE

At 31 December 2025

7,340

At 31 December 2024

7,340

8.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2025

1,590,807

177,145

92,768

235,079

2,095,799

Additions

19,177

39,291

708

4,000

63,176

At 31 December 2025

1,609,984

216,436

93,476

239,079

2,158,975

DEPRECIATION

At 1 January 2025

-

126,536

85,638

-

212,174

Charge for year

-

10,590

2,596

-

13,186

At 31 December 2025

-

137,126

88,234

-

225,360

NET BOOK VALUE

At 31 December 2025

1,609,984

79,310

5,242

239,079

1,933,615

At 31 December 2024

1,590,807

50,609

7,130

235,079

1,883,625

The land and buildings were valued by Mr D A Chapman MRICS of O A Chapman & Sons Limited in January 2015. The valuation was prepared on an open market value basis and this is in accordance with generally accepted accounting practice.

The charity's vehicles and equipment were last valued by the committee during the 2017 season.

9.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade debtors

77

699

Other debtors

17,855

21,103

Prepayments

16,346

14,993

34,278

36,795

10.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Other loans (see note 11)

28,500

38,500

Trade creditors

3,726

8,605

Accrued expenses

2,400

3,750

34,626

50,855

11.

LOANS

An analysis of the maturity of loans is given below:

31.12.25

31.12.24

£

£

Amounts falling due within one year on demand:

Other loans

28,500

38,500

12.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.25

31.12.24

£

£

Within one year

6,900

-

Between one and five years

12,075

-

18,975

-

The charity leases a storage unit at Ellough, Beccles through East Suffolk Council which commenced on the 3 November 2003. This is subject to a rent review every third anniversary from the start of the lease period.

13.	MOVEMENT IN FUNDS

Net

movement

At

At 1.1.25

in funds

31.12.25

£

£

£

Unrestricted funds

General fund

1,769,235

94,337

1,863,572

Restricted funds

Restricted funds

270,467

(4,993

)

265,474

TOTAL FUNDS

2,039,702

89,344

2,129,046

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

307,467

(213,130

)

94,337

Restricted funds

Restricted funds

10,562

(15,555

)

(4,993

)

TOTAL FUNDS

318,029

(228,685

)

89,344

Comparatives for movement in funds

Net

movement

At

At 1.1.24

in funds

31.12.24

£

£

£

Unrestricted fund

1,698,406

70,829

1,769,235

Restricted fund

Restricted funds

264,679

5,788

270,467

TOTAL FUNDS

1,963,085

76,617

2,039,702