THE PRINCESS ROYAL CLASS LOCOMOTIVE TRUST
(1) - The restoration, preservation, operation and display of its steam locomotives, which includes LMS Princess Coronation Class Pacific 6233 "Duchess of Sutherland";(2) - The restoration, preservation, display and where appropriate, the operation of its rolling stock;(3) - The operation of the West Shed Museum, which aims to exhibit the full history of the LMS pacific class locomotives.
Financial health, per its FY2024 accounts
The accounts state that unrestricted free reserves decreased to £314,700 from £387,383 in the prior year, resulting in a net expenditure of £82,556. The trustees report that the charity remains financially stable with no borrowing and that reserves are sufficient to cover management costs and respond to emergencies. The charity operates a defined contribution pension scheme and has no share capital.
What the accounts disclose
“It is the policy of the charity to maintain unrestricted funds, which are free reserves of the charity of the charity, at a level which provides sufficient funds to cover management, administration and support costs; and to respond to emergency applications for grants” — page 4
Funders the charity credits
- East Midlands Railway Community Fund
Property (HM Land Registry)
Structured financials (annual return, FY ending 31/12/2023)
Trustees
- CHRISTOPHER POWELLchair
- Brell Peter Ewart DL
- GLYNNE PHILLIPS HENSHALL
- MICHAEL LESLIE HOLLINGWORTH
- Richard Anthony Powell
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £55k | £138k |
| 31/12/2023 | £553k | £333k |
| 31/12/2022 | £265k | £373k |
| 31/12/2021 | £365k | £206k |
| 31/12/2020 | £167k | £211k |
Common questions
Is THE PRINCESS ROYAL CLASS LOCOMOTIVE TRUST financially healthy?
Per its FY2024 accounts: The accounts state that unrestricted free reserves decreased to £314,700 from £387,383 in the prior year, resulting in a net expenditure of £82,556. The trustees report that the charity remains financially stable with no borrowing and that reserves are sufficient to cover management costs and respond to emergencies. The charity operates a defined contribution pension scheme and has no share capital. Its FY2024 accounts were independently examined.
Government & lottery funding
| Funder | Date | Amount | Purpose |
|---|---|---|---|
| UK government | 16/02/2023 | £68k | Museum Estate and Development fund |
| The National Lottery Heritage Fund | 17/08/2020 | £10k | "COVID19: The Princess Royal Class Locomotive Trust" |
| The National Lottery Heritage Fund | 05/03/2008 | £154k | "Conservation of the 1912 London, Midland & Scottish Railway No.1 Dynamometer Car (45050)" |
| The National Lottery Heritage Fund | 09/09/2003 | £611k | "The West Shed - Library & Workshop Extensions" |
| The National Lottery Heritage Fund | 02/06/1998 | £343k | "Duchess of Sutherland Steam Locomotive" |