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THE A1 STEAM LOCOMOTIVE TRUST

Registered charity 1022834 · accounts filings on the Charity Commission register · also known as A1 STEAM LOCOMOTIVE TRUST, A1 STEAM LOCOMOTIVE TRUST LTD

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Latest income
£1.2m
Latest spending
£792k
Registered
1993
Accounts read
FY2025

Financial health, per its FY2025 accounts

The accounts state that the charity reported a net income of £405,515 for the year ended 31 March 2025, with total unrestricted reserves of £7,695,019 carried forward. The trustees expressed confidence in future financial stability, noting that reserves can be replenished once the Coronavirus Business Interruption Loan Scheme repayments are completed in May 2026.

What the accounts disclose

Reserves policy: unclear (held: £7.7m)
“The Trustees are confident in the future financial stability of the organization, although all are clear of the need to rebuild adequate reserves across the full breadth of activity.”
Per its FY2025 accounts as filed with the Charity Commission.
Payments to trustees: Paul Bruce and Ben McDonald received remuneration as contractors (£46,338 and £23,588 respectively). Other trustees received only expense reimbursements.
“Paul Bruce, was remunerated as a contractor due to his skills as a railway consultant. During the year costs of £46,338 (2024: £71,400) were charged to the charity and reimbursed in full by a third party. Ben McDonald was also remunerated as a contractor due to his skills as a railway consultant. During the year costs of £23,588 (2024: £35,937) were charged to the charity and reimbursed in full by a third party.” — page 24
Per its FY2025 accounts as filed with the Charity Commission.
Related-party transaction: Donations from trustees
“Donations from trustees in the year were £345.” — page 29
Per its FY2025 accounts as filed with the Charity Commission.
Trading subsidiary: Tornado Steam Traction Limited, Tornado Merchandising Limited, The P2 Steam Locomotive Company Limited, The V4 Steam Locomotive Company Limited, The A1SLT Support Services Company Limited
“The financial statements consolidate the results of the charity and its wholly owned subsidiary companies, Tornado Steam Traction Limited, Tornado Merchandising Limited, and The P2 Steam Locomotive Company Limited, The V4 Steam Locomotive Company Limited and The A1SLT Support Services Company Limited on a line by line basis.” — page 16
Per its FY2025 accounts as filed with the Charity Commission.

Accounts audited by S&W Group Partners Limited. Discloses 5 of 6 completeness components.

Structured financials (annual return, FY ending 31/03/2025)

Total income
£1.2m
Total spending
£792k
Cost of raising funds
£219k
Reserves (reported)
£0
Employees
7

Reported reserves equal ~0.0 months of spending — in the bottom quarter for charities its size (median 4.8 months; benchmarks).

Trustees

Trustee list from the Charity Commission register (current, not historical).

Operates in: Scotland · Throughout England And Wales

Income and spending

Financial year endIncomeSpending
31/03/2025£1.2m£792k
31/03/2024£1.3m£1.1m
31/03/2023£1.7m£682k
31/03/2022£1.9m£1.8m
31/03/2021£1.6m£878k

Common questions

Is THE A1 STEAM LOCOMOTIVE TRUST financially healthy?

The accounts state that the charity reported a net income of £405,515 for the year ended 31 March 2025, with total unrestricted reserves of £7,695,019 carried forward. The trustees expressed confidence in future financial stability, noting that reserves can be replenished once the Coronavirus Business Interruption Loan Scheme repayments are completed in May 2026. Its FY2025 accounts were audited by S&W Group Partners Limited.