THE SIR NIGEL GRESLEY LOCOMOTIVE TRUST LIMITED
Our historic locomotive is operational on the main line railway network and goes all over the country. We also go to private railways, where our members and the general public see her at close quarters. This year we are taking part in the Railways 200 events as holder of the post-war speed record for steam trains of 112mph. Looking to the future we encourage junior volunteers to learn skills.
Objects
TO ADVANCE THE EDUCATION OF THE PUBLIC THROUGH THE PRESERVATION, OPERATION AND EXHIBITION OF LOCOMOTIVES OF HISTORIC OR SCIENTIFIC IMPORTANCE SPECIFICALLY THE A4 PACIFIC LOCOMOTIVE NAMED SIR NIGEL GRESLEY. (1) TO PROVIDE WORKING EXHIBITS OF LOCOMOTIVES AND ROLLING STOCK FOR STUDY BY AND FOR THE EDUCATION OF THE PUBLIC BY MAINTAINING THEM IN MAIN LINE WORKING ORDER. (2) TO PROMOTE INTEREST IN THE PRESERVATION OF STEAM AND OTHER RAILWAY LOCOMOTIVES AND ROLLING STOCK, MACHINERY AND EQUIPMENT OF HISTORICAL INTEREST.
Financial health, per its FY2025 accounts
The accounts state that the group reported a net deficit of £13,822 for the year ended 31 December 2025, contrasting with a net income of £62,533 in the prior year. Total unrestricted reserves stood at £1,294,602, comprising a designated overhaul fund of £526,000 and general funds of £768,602. The trustees confirmed the entity remains a going concern despite the financial difficulty experienced in 2025.
What the accounts disclose
“The average number of employees during the year was one (2024 – one). Staff salaries amounted to £63,302 (2024 - £52,135)” — page 11
“The average number of employees during the year was one (2024 – one). Staff salaries amounted to £63,302” — page 11
“The Trust policy on reserves is somewhat different from most charities in that the objective of the charity is on a 10-year funding cycle based on the operational period of the locomotive. For that reason, the policy of the Trust is to accumulate a reserve in a designated overhaul fund sufficient to fund an overhaul every 10 years.” — page 2
Year-over-year changes
- Employees paid over £60,000: 0 (FY2024) → 1 (FY2025).
Policies the charity declares
- Complaints handling
- Complaints policy and procedures
- Conflicting interests
- Financial reserves policy and procedures
- Internal charity financial controls policy and procedures
- Investing charity funds policy and procedures
- Investment
- Paying staff
- Risk management
- Safeguarding policy and procedures
- Safeguarding vulnerable beneficiaries
- Serious incident reporting policy and procedures
- Social media policy and procedures
- Trustee conflicts of interest policy and procedures
- Trustee expenses policy and procedures
- Volunteer management
Trustees
- MR NIGEL WILSONchair
- ALISON JANET MARION FLOOD LLB
- Alan Harold Pitt
- DAVID RICHARD MCINTOSH
- JOAN FRANCES MARY JACKSON
- Myles Keith Walmsley
- RICHARD SWALES
- Robert James Shearman
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2025 | £310k | £324k |
| 31/12/2024 | £284k | £221k |
| 31/12/2023 | £316k | £196k |
| 31/12/2022 | £218k | £145k |
| 31/12/2021 | £62k | £19k |
Common questions
Is THE SIR NIGEL GRESLEY LOCOMOTIVE TRUST LIMITED financially healthy?
Per its FY2025 accounts: The accounts state that the group reported a net deficit of £13,822 for the year ended 31 December 2025, contrasting with a net income of £62,533 in the prior year. Total unrestricted reserves stood at £1,294,602, comprising a designated overhaul fund of £526,000 and general funds of £768,602. The trustees confirmed the entity remains a going concern despite the financial difficulty experienced in 2025. Its FY2025 accounts were independently examined.
What does the highest-paid employee of THE SIR NIGEL GRESLEY LOCOMOTIVE TRUST LIMITED earn?
Per its FY2025 accounts, the highest-paid employee was in the £63,302 band, and 1 employees earned over £60,000.
Government & lottery funding
| Funder | Date | Amount | Purpose |
|---|---|---|---|
| The National Lottery Heritage Fund | 12/09/2001 | £322k | "Sir Nigel Gresley, Locomotive No. 4498 - Restoration" |