THE MID-NORFOLK RAILWAY PRESERVATION TRUST
Financial health, per its FY2024 accounts
The accounts state that the charity reported a net income of £175,000 for the year ended 31 December 2024, with total funds increasing to £4.3 million. The trustees confirmed that unrestricted reserves of £4.3 million and net cash balances exceeding £1.2 million provide adequate resources for the foreseeable future, supported by secured Polar Express income through 2028.
What the accounts disclose
“The Trustees have examined the Group's requirements for reserves in light of the main risks to the organisation and are working towards a target whereby the unrestricted reserves held by the Group should equate to between 6 and 12 months expenditure.” — page 9
“During the year a gift aid payment of £739,197 (2023 - £508,500, as restated), being an amount equal to the value of taxable profits, was made from The Mid-Norfolk Railway (Trading) Limited to the Trust.” — page 46
“At 31 December 2024, the Charity owed The Mid-Norfolk Railway (Trading) Ltd £252,512 (2023 £368,811, as restated).” — page 46
“During the year a gift aid payment of £739,197 (2023 - £508,500, as restated), being an amount equal to the value of taxable profits, was made from The Mid-Norfolk Railway (Trading) Limited to the Trust.” — page 46
“At 31 December 2024, the Charity owed The Mid-Norfolk Railway (Trading) Ltd £252,512 (2023 £368,811, as restated).” — page 46
“During the year a gift aid payment of £739,197 (2023 - £508,500, as restated), being an amount equal to the value of taxable profits, was made from The Mid-Norfolk Railway (Trading) Limited to the Trust.” — page 46
“At 31 December 2024, the Charity owed The Mid-Norfolk Railway (Trading) Ltd £252,512 (2023 £368,811, as restated).” — page 46
“The accounts now include the combined activities both of the railway and commercial activities undertaking by The MidNorfolk Railway (Trading) Limited.”
Structured financials (annual return, FY ending 31/12/2024)
Trustees
- DAVID SIMON PATEYchair
- David James Collinson
- Derek Orr
- Joshua Reginald Harold Quirk
- Lesley Spark
- Nigel Kenneth Edward Smith
- Paul Young
- Stephen Edward Smith
- Stewart Robinson
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £2.5m | £2.3m |
| 31/12/2023 | £1.6m | £992k |
| 31/12/2022 | £1.7m | £1.0m |
| 31/12/2021 | £2.2m | £1.3m |
| 31/12/2020 | £1.3m | £723k |
Common questions
Is THE MID-NORFOLK RAILWAY PRESERVATION TRUST financially healthy?
The accounts state that the charity reported a net income of £175,000 for the year ended 31 December 2024, with total funds increasing to £4.3 million. The trustees confirmed that unrestricted reserves of £4.3 million and net cash balances exceeding £1.2 million provide adequate resources for the foreseeable future, supported by secured Polar Express income through 2028. Its FY2024 accounts were audited by Larking Gowen LLP.
Government & lottery funding
| Funder | Date | Amount | Purpose |
|---|---|---|---|
| The National Lottery Heritage Fund | 24/02/2005 | £5k | "Education, Information And Promotion Activities Will Be Extended With Equipment Used To Collect, Collate, Record And Make Available Through" |