The Heavy Tractor Group 37714

	Page
Trustees' Report	1—4
Accountants' Report	5
Statement of Financial Activities (including Income and Expenditure Account)	6
Balance Sheet	7
Notes to the Financial Statements	8—12

The trustees present their report and the financial statements for the year ended 31 January 2026.

Objectives and Activities

Aims and Objectives

The purposes of the charity are:

To advance the education of the public through the preservation, operation and exhibition of an English Electric class 37/7 diesel locomotive, the maintenance of books, records, drawings, documents, sound and visual recordings, films, photographs and artefacts relating to such locomotives or components, assisting other diesel locomotive groups/charities with the provision of parts and technical assistance and the training for engineering apprentices.

The vision that shapes our annual activities remains the preservation and operation of one of the last remaining Heavyweight Class 37 locomotives, at the GCR Loughborough. The charity also has the aim of making the locomotive available for use at other Heritage Railways for special events and several offers are under consideration.

We endeavour to encourage all within our community to take part in our activities and to attend our running days.

The strategies employed to achieve the charity’s aims and objectives are to:

To advance the education of the Public through the preservation, exhibition and operation of an English Electric Class 37/7 Diesel locomotive

The maintenance of books, records, drawings, documents and visual recordings, films, photographs and artefacts relating to such locomotives

Make the locomotive available for the entire running season to meet its booked running days, Gala duties and other services as required by the GCR.

offer opportunities for Apprentice Engineers to develop their skills

assist other Class 37 and other Locomotive Groups with the supply of parts on a loan basis as required to keep their locomotive running

celebrate the life of Paul Fairfax a locomotive engineer responsible for the introduction of the locomotive at Cardiff Canton depot. The locomotive carries the name Cardiff Canton and a plaque in his memory.

Putting these strategies into action we have three major areas of activity which are: running and operation of the locomotive; educational programmes for STEM; and the fostering of relationships with current mainline railway companies.

The Operation of the Locomotive

The locomotives are operated on a rota basis at the GCR and operated on 2 weekends per month. They are also part of the home fleet for Diesel Galas and is available for Charters and Drive a Loco experiences at the GCR.

Public Benefit

In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission’s guidance on public benefit, including the guidance ‘public benefit: running a charity (PB2)’. The locomotive relies on the income from running fees and hire charges to cover its operating costs.

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.

Additional Note

Our volunteers

The Charity consists of 11 members and is very involved in the GCR offering assistance to maintain 2 other locomotives.

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The Heavy Tractor Group 37714

Trustees' Report (continued)

For The Year Ended 31 January 2026

Achievements and Performance

Main Achievements

This has been another busy year for the Group.

37714 spent 3 weeks at Loram UK enabling us to lift the locomotive from it’s wheelsets to carry out an under-body inspection, change the brake pipes and thoroughly inspect the traction motors.

The roof was removed, turned and stripped and repainted , along with a full internal repaint of the engine room and a thorough degreasing of the engine block.

Once this work was completed a full external repaint was carried out along with corrosion repairs.

On return to the GCR both the locomotives have proved very reliable and have continued to see regular use , both on passenger and goods trains and 37714 on trip workings and has continued to be a popular choice for Drive a Locomotive Experiences (DATEX).

D6700 has also seen an extended period of use and has performed very well throughout the year

The Group hosted the Loram families for their staff Santa train and several visitors to the cab during the journey, a very good day for all.

2025/2026 has been another successful year and looking ahead 2026/2027 promises to be in similar vein.

The STEM and Apprenticeship programme

We are engaging with local schools to make the locomotive available for use for STEM projects, this is ongoing.

During the planned maintenance days, the General Public are encouraged to view the work and ask questions.

The GCR Apprentices are encouraged to assist with the maintenance to gain experience of diesel locomotives.

Relationships

The Charity has strong relationships with several rail engineering companies to help with the ongoing maintenance of the locomotive. This is achieved through the donation and sale of parts and technical advice. The charity currently works with UKRL and Loram.

Financial Review

Reserves Policy

Reserves are needed to cover unforeseen costs. The aim is for the bank account to always have £1500 in credit after allowing for any committed costs.

Reference and Administrative Details

Trustees

N E Ball

R C Capell

Mr A M Gillett MBE

Mr J M Johnson

Charity Number

1194729

Company Number

10593862

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The Heavy Tractor Group 37714

Trustees' Report (continued)

For The Year Ended 31 January 2026

Registered Office

14 Deepcut Road

Draycott-In-The-Clay

Ashbourne

DE6 5BW

Accountants

Nuvo Accountancy Limited

Chartered Certified Accountants

First Floor, Sterling House

Outrams Wharf

Little Eaton

Derby

DE21 5EL

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The Heavy Tractor Group 37714

Trustees' Report (continued)

For The Year Ended 31 January 2026

Statement of Trustees' Responsibilities

The trustees (who are also the directors of The Heavy Tractor Group 37714 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.

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.

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 A M Gillett MBE

Trustee

26 October 2026

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The Heavy Tractor Group 37714

Accountants' Report

For The Year Ended 31 January 2026

Accountants' Report

Accountant's report to the board of trustees on the preparation of the unaudited statutory accounts of The Heavy Tractor Group 37714 for the year ended 31 January 2026.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Heavy Tractor Group 37714 for the year ended 31 January 2026 which comprise the Statement of Financial Activities (including Income and Expenditure Account), Balance Sheet and the related notes from the charity’s accounting records and from information and explanations which you have given to us.

This report is made solely to the board of trustees of the charity, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Heavy Tractor Group 37714 , and state those matters that we have agreed to state to the board of trustees of the charity, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Heavy Tractor Group 37714 and its board of trustees, as a body, for our work or for this report.

It is your duty to ensure that The Heavy Tractor Group 37714 has kept sufficient accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and surplus or deficit of the charity. You consider that The Heavy Tractor Group 37714 is exempt from the requirement to have a statutory audit or an independent examination for the year ended 31 January 2026.

We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.

26 October 2026

Nuvo Accountancy Limited

Chartered Certified Accountants

First Floor, Sterling House

Outrams Wharf

Little Eaton

Derby

DE21 5EL

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The Heavy Tractor Group 37714

Statement of Financial Activities (including Income and Expenditure Account)

For The Year Ended 31 January 2026

Statement of Financial Activities (including Income and Expenditure Account)

		2026	2025
		Unrestricted funds	Unrestricted funds
	Notes	£	£
INCOME AND ENDOWMENTS FROM:
Donations and legacies	3	6,140	7,940
Charitable activities	4	15,937	92,581

		22,077	100,521

EXPENDITURE ON:
Charitable activities	5	(54,655 )	(73,255 )

NET (EXPENDITURE)/INCOME		(32,578 )	27,266


NET MOVEMENT IN FUNDS		(32,578 )	27,266
RECONCILIATION OF FUNDS:
Total funds brought forward		70,033	42,767

TOTAL FUNDS CARRIED FORWARD	15	37,455	70,033

The notes on pages 8 to 12 form part of these financial statements.

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The Heavy Tractor Group 37714

Balance Sheet

As At 31 January 2026

Balance Sheet

		2026	2025
		Unrestricted funds	Total funds
	Notes	£	£
FIXED ASSETS
Tangible Assets	9	35,000	35,000

		35,000	35,000
CURRENT ASSETS
Stocks	10	5,241	5,241
Debtors	11	722	430
Cash at bank and in hand		11,108	40,524

		17,071	46,195
Creditors: Amounts Falling Due Within One Year	12	(14,616 )	(11,162 )

NET CURRENT ASSETS (LIABILITIES)		2,455	35,033

TOTAL ASSETS LESS CURRENT LIABILITIES		37,455	70,033

NET ASSETS		37,455	70,033

FUNDS OF THE CHARITY
Unrestricted Funds		37,455	70,033

TOTAL FUNDS	15	37,455	70,033

For the year ending 31 January 2026 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 A M Gillett MBE

Trustee

26 October 2026

The notes on pages 8 to 12 form part of these financial statements.

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The Heavy Tractor Group 37714

Notes to the Financial Statements

For The Year Ended 31 January 2026

Notes to the Financial Statements

1. General Information

The Heavy Tractor Group 37714 is a company limited by guarantee, incorporated in , registered number 10593862 and registered charity number 1194729 . The registered office is 14 Deepcut Road, Draycott-In-The-Clay, Ashbourne, DE6 5BW.

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. 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.

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

2.3. Incoming Resources

Items of income are recognised and included in the accounts when all of the following criteria are met:

the entity has entitlement to the funds;

any performance conditions attached to the item(s) of income have been met or are fully within the control of the entity;

there is sufficient certainty that receipt of the income is considered probable; and

the amount can be measured reliably.

2.4. Resources Expended

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

For SORP accounts purposes, the entity is regarded as having a single activity and simple affairs. In view of that, expenditure is reported by its natural analysis, and no distinction is made between direct expenditure, support expenditure and governance costs, all of which can be readily identified from the detailed breakdown of costs provided.

2.5. Tangible Fixed Assets and Depreciation

The company maintains its operating locomotives in full working order, and all routine maintenance costs are charged to revenue costs when incurred. Locomotives are therefore considered to have indeterminate lives and the directors do not consider it appropriate to charge depreciation.

2.6. 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.

3. Income from Donations and Legacies

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The Heavy Tractor Group 37714

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

	2026	2025
	Unrestricted	Unrestricted
	funds	funds
	£	£
Donations and gifts	4,960	6,850
Member subscriptions and sponsorships	1,180	1,090

	6,140	7,940

4. Income from Charitable Activities

	2026	2025
	Unrestricted funds £	Unrestricted funds £
37714 preservation	15,937	92,581

5. Analysis of Expenditure

			2026
	Activities undertaken directly	Support costs (see note 6 )	Total
	£	£	£
37714 preservation	50,499	4,156	54,655

			2025
	Activities undertaken directly	Support costs (see note 6 )	Total
	£	£	£
37714 preservation	69,133	4,122	73,255

6. Support Costs

	2026	2025
	37714 preservation	37714 preservation
	£	£
General administration	3,196	3,427
Governance costs	960	695

	4,156	4,122

7. Independent Examiner's Remuneration

	2026	2025
	£	£
Independent examination of the financial statements	960	695

8. Average Number of Employees

Average number of employees during the year was: NIL (2025: NIL)

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The Heavy Tractor Group 37714

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

9. Tangible Assets

	Plant & Machinery
	£
Cost
As at 1 February 2025	35,000

As at 31 January 2026	35,000

Net Book Value
As at 31 January 2026	35,000

As at 1 February 2025	35,000

10. Stocks

	2026	2025
	£	£
Stock	4,666	4,666
Finished goods	575	575

	5,241	5,241

11. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	430	430
Other debtors	292	-

	722	430

12. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	5,207	-
Other loans - A Gillett	3,600	3,600
Taxation and social security	5,009	6,762
Accruals and deferred income	800	800

	14,616	11,162

13. Loans

An analysis of the maturity of loans is given below:

	2026	2025
	£	£
Amounts falling due within one year or on demand:
Other loans	3,600	3,600

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The Heavy Tractor Group 37714

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

14. Deferred Income

Deferred income movements in the year were as follows:

	2026	2025
	£	£
Balance at the start of the period	-	9,392
Amounts released in income from previous periods	-	(9,392 )

Balance at the end of the period	-	-

15. Movement in Funds

	As at 1 February 2025	Income	Expenditure	As at 31 January 2026
	£	£	£	£
Unrestricted funds
General:
General unrestricted fund	70,033	22,077	(54,655 )	37,455


Total funds	70,033	22,077	(54,655 )	37,455

	As at 1 February 2024	Income	Expenditure	As at 31 January 2025
	£	£	£	£
Unrestricted funds
General:
General unrestricted fund	42,767	100,521	(73,255 )	70,033


Total funds	42,767	100,521	(73,255 )	70,033

16. Transactions with Trustees

During the year the expenses reimbursed to the trustees or paid directly to third parties were as follows:

	2026	2025
	£	£
Other Expenses	3,600	-

Number of trustees reimbursed for expenses during the year was 1 (2025: 0)

Other trustee expenses comprised re-imbursements for parts purchased.

17. Related Party Disclosures

Membership fees/donations received in the year from group members totalled £120 (2025 £360).

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The Heavy Tractor Group 37714

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

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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