MODERN ELECTRIC TRAMWAYS LIMITED
Seaton Tramway provides a link back to the heritage of branch lines and epitomizes the post-war development of domestic leisure and tourism. Today the Tramway has a unique role in connecting Seaton and the Jurassic Coast with the environmental assets of the Axe Valley.
Financial health, per its FY2024 accounts
The accounts state that the charity reported a net expenditure of £220,690 for the year, resulting in a decrease in total net assets from £6,190,089 to £5,969,399. Despite reporting net current liabilities of £201,013, the trustees and auditors confirm the charity is a going concern with adequate resources to meet obligations for the next 12 months.
What the accounts disclose
“Two employees received emoluments (excluding employer pension costs) of more than £60,000 during the year” — page 33
“Two employees received emoluments (excluding employer pension costs) of more than £60,000 during the year” — page 33
“The charity endeavours to maintain suitable reserves that will allow continued charitable and trading operations in excess of six weeks, in the event of seasonal fluctuations in visitor numbers or other extraordinary circumstances.” — page 11
“During the year ended 31 December 2024 the charity paid £5,586 (2023: £25,030) to Kuloko, a business owned by Nicola Stone (trustee), for services rendered. This transaction was on commercial terms and the related party declared their interest and was not involved in the decision-making process to engage the services of the company.” — page 46
“During the year, Mark Horner (trustee) and Bruce Warnes (trustee) lent loans to the Charity. As at the year end, £365,893 was still outstanding on these loans. Interest is charged on the loans at 3.75% from December 2024.” — page 46
“During the year ended 31 December 2024 the charity paid £5,586 (2023: £25,030) to Kuloko, a business owned by Nicola Stone (trustee), for services rendered. This transaction was on commercial terms and the related party declared their interest and was not involved in the decision-making process to engage the services of the company.” — page 46
“During the year, Mark Horner (trustee) and Bruce Warnes (trustee) lent loans to the Charity. As at the year end, £365,893 was still outstanding on these loans. Interest is charged on the loans at 3.75% from December 2024.” — page 46
“These financial statements consolidate the results of the charity and its wholly owned subsidiary, Seaton Tramway (Enterprises) Limited” — page 23
Year-over-year changes
- Employees paid over £60,000: 1 (FY2023) → 2 (FY2024).
Funders the charity credits
- National Lottery Heritage Fund
Property (HM Land Registry)
Structured financials (annual return, FY ending 31/12/2024)
Trustees
- BRUCE CHARLES WARNESchair
- DAVID WILLIAM KEAY
- Mark Andrew Horner
- Nicola Elizabeth Stone
- Wendy Louise Anita O'Neill
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £2.0m | £2.3m |
| 31/12/2023 | £2.0m | £1.9m |
| 31/12/2022 | £1.6m | £1.9m |
| 31/12/2021 | £2.2m | £1.7m |
| 31/12/2020 | £1.5m | £1.2m |
Common questions
Is MODERN ELECTRIC TRAMWAYS LIMITED financially healthy?
Per its FY2024 accounts: The accounts state that the charity reported a net expenditure of £220,690 for the year, resulting in a decrease in total net assets from £6,190,089 to £5,969,399. Despite reporting net current liabilities of £201,013, the trustees and auditors confirm the charity is a going concern with adequate resources to meet obligations for the next 12 months. Its FY2024 accounts were audited by Westcotts (SW) LLP.
What does the highest-paid employee of MODERN ELECTRIC TRAMWAYS LIMITED earn?
Per its FY2024 accounts, the highest-paid employee was in the more than £60,000 band, and 2 employees earned over £60,000.
Government & lottery funding
| Funder | Date | Amount | Purpose |
|---|---|---|---|
| The National Lottery Heritage Fund | 04/12/2024 | £89k | "Discovering Seaton’s Changing Jurassic Past, and Future" |
| The National Lottery Heritage Fund | 06/07/2020 | £49k | "COVID19" |
| The National Lottery Heritage Fund | 20/06/2017 | £465k | "Seaton Tramway - Travels through Heritage and the Axe Valley" |
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| THE CLARE MILNE TRUST | 1 | £10k |
| THE JOHN COATES CHARITABLE TRUST | 1 | £5k |
| THE ALLEN LANE FOUNDATION | 1 | £3k |
| SCHRODER CHARITY TRUST | 1 | £500 |
Charities like this
- CHARMOUTH HERITAGE COAST CENTRE
- SOMERSET AND DORSET RAILWAY HERITAGE TRUST
- SOUTH WEST COAST PATH ASSOCIATION
- ST JAMES' TRUST (SEAFORD)
- WEST SOMERSET RAILWAY HERITAGE TRUST LTD
- BODMIN RAILWAY HERITAGE TRUST
Side by side with its peers
| Charity | Income | Top pay band | Staff >£60k | Reserves vs policy | Fundraising cost | Going concern |
|---|---|---|---|---|---|---|
| MODERN ELECTRIC TRAMWAYS LIMITED | £2.0m | more than £60,000 | 2 | unclear | — | no doubt |
| CHARMOUTH HERITAGE COAST CENTRE | £282k | — | 0 | above | — | no doubt |
| SOMERSET AND DORSET RAILWAY HERITAGE TRUST | £666k | — | 0 | unclear | — | noted |
| SOUTH WEST COAST PATH ASSOCIATION | £1.1m | — | — | above | — | no doubt |
| ST JAMES' TRUST (SEAFORD) | £102k | — | 0 | unclear | — | no doubt |
| WEST SOMERSET RAILWAY HERITAGE TRUST LTD | £88k | — | 0 | unclear | — | no doubt |