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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

To build, preserve, operate and exhibit for public benefit, for educational benefit and instructional purposes locomotives of historical or scientific importance, in particular a peppercorn class A1 express passenger locomotive.

Causes: Environment/conservation/heritage · website · Get email alerts

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.

Automated summary of the FY2025 accounts; the evidenced findings below carry the verbatim passages.

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.

Corporate structure

TORNADO STEAM TRACTION LIMITED — per its own Companies House accounts
  • Amounts owed to group undertakings: £1,877,992
TORNADO MERCHANDISING LIMITED — per its own Companies House accounts
    THE V4 STEAM LOCOMOTIVE COMPANY LIMITED — per its own Companies House accounts
      THE P2 STEAM LOCOMOTIVE COMPANY LIMITED — per its own Companies House accounts
      • Amounts owed to group undertakings 3,916,639
      THE A1SLT SUPPORT SERVICES COMPANY LIMITED — per its own Companies House accounts

        Company officers (Companies House)

        Current officers of the charity’s own company per the Companies House register, cross-checked against the Charity Commission trustee list by name. A director not on the trustee list is usually a timing or naming difference between the two registers — check both records before drawing conclusions.

        Official officers record.

        Public profiles (found on the charity’s own website): facebook · instagram

        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).

        Per its annual return, cost of raising funds: 18.3% of total income — in the top quarter for charities its size (median 5.2%) (benchmarks).

        Trustees · trustee networks

        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?

        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. Its FY2025 accounts were audited by S&W Group Partners Limited.

        Funders of similar charities

        Funders whose accounts show grants to charities similar to this one (and no recorded grant to this charity) — a starting list for fundraisers.

        FunderSimilar charities fundedAmount to them
        THE ADRIAN SWIRE CHARITABLE TRUST1£10k
        THE MICHAEL MARSH CHARITABLE TRUST1£5k
        GOWLING WLG (UK) CHARITABLE TRUST1£2k

        Charities like this

        Semantically similar by activities and financial character, from our analysed corpus. Compare with WESTERN LOCOMOTIVE ASSOCIATION LIMITED.

        Side by side with its peers

        CharityIncomeTop pay bandStaff >£60kReserves vs policyFundraising costGoing concern
        THE A1 STEAM LOCOMOTIVE TRUST£1.2m—0unclear—no doubt
        WESTERN LOCOMOTIVE ASSOCIATION LIMITED FY2025£191k—0unclear—no doubt
        ROYAL SCOT LOCOMOTIVE & GENERAL TRUST FY2025£8.7m—0above—no doubt
        CHINNOR AND PRINCES RISBOROUGH RAILWAY ASSOCIATION LIMITED FY2025£200k—0above—no doubt
        VINTAGE TRAINS CHARITABLE TRUST FY2025£3.6m——below—no doubt
        THE 2874 TRUST LIMITED FY2025£119k—0unclear—no doubt

        Each row is that charity’s latest analysed filing; every value is quote-backed on its own page.