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STATFOLD NARROW GAUGE MUSEUM TRUST LTD

Registered charity 1176862 · accounts filings on the Charity Commission register

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Latest income
£3.2m
Latest spending
£2.5m
Registered
2018
Accounts read
FY2024

Financial health, per its FY2024 accounts

The accounts state that the charity reported a net surplus of £694,764 for the year, with unrestricted reserves standing at £4,912,297. The trustees note that the charity remains dependent on donations from certain trustees to meet operating costs, although they have confirmed their intention to continue providing financial support for at least 12 months.

What the accounts disclose

Reserves policy: between three and six month's expenditure (held: £4.9m)
“It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month's expenditure.” — page 6
Per its FY2024 accounts as filed with the Charity Commission.
Going concern: noted by the trustees or auditor
“The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. Whilst this is our aim, the charity continues to be dependent on the support of certain Trustees, in the form of donations, to enable it to meet its site development and operating costs.”
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: Trade debtors include the amount of £25,090 (2023: £nil) due from Statfold Narrow Gauge Museum Trading Ltd, a company in which certain of the Trustees hold a financial interest.
“Trade debtors include the amount of £25,090 (2023: £nil) due from Statfold Narrow Gauge Museum Trading Ltd, a company in which certain of the Trustees hold a financial interest.” — page 24
“Other debtors include the amount of £63,132 (2023: £nil) due from G & CA Lee, a partnership in which certain of the Trustees hold a financial interest.” — page 24
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: Other debtors include the amount of £63,132 (2023: £nil) due from G & CA Lee, a partnership in which certain of the Trustees hold a financial interest.
“Trade debtors include the amount of £25,090 (2023: £nil) due from Statfold Narrow Gauge Museum Trading Ltd, a company in which certain of the Trustees hold a financial interest.” — page 24
“Other debtors include the amount of £63,132 (2023: £nil) due from G & CA Lee, a partnership in which certain of the Trustees hold a financial interest.” — page 24
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: Trade creditors include the amount of £12,828 (2023: £44,545) due to Statfold Narrow Gauge Museum Trading Ltd, a company in which certain of the Trustees hold a financial interest.
“Trade debtors include the amount of £25,090 (2023: £nil) due from Statfold Narrow Gauge Museum Trading Ltd, a company in which certain of the Trustees hold a financial interest.” — page 24
“Other debtors include the amount of £63,132 (2023: £nil) due from G & CA Lee, a partnership in which certain of the Trustees hold a financial interest.” — page 24
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: The charity's activities are located on land owned by Mr G Lee, one of the trustees, for which annual rent of £1,000 (2023: £1,000) is paid.
“Trade debtors include the amount of £25,090 (2023: £nil) due from Statfold Narrow Gauge Museum Trading Ltd, a company in which certain of the Trustees hold a financial interest.” — page 24
“Other debtors include the amount of £63,132 (2023: £nil) due from G & CA Lee, a partnership in which certain of the Trustees hold a financial interest.” — page 24
Per its FY2024 accounts as filed with the Charity Commission.
Trading subsidiary: Statfold Narrow Gauge Museum Trading Ltd
“Trade debtors include the amount of £25,090 (2023: £nil) due from Statfold Narrow Gauge Museum Trading Ltd, a company in which certain of the Trustees hold a financial interest.” — page 24
Per its FY2024 accounts as filed with the Charity Commission.

Accounts audited by BK Plus Audit Limited. Discloses 4 of 6 completeness components.

Structured financials (annual return, FY ending 31/12/2024)

Total income
£3.2m
Total spending
£2.5m
Reserves (reported)
£4.9m
Employees
65

Reported reserves equal ~23.5 months of spending — in the top quarter for charities its size (median 4.8 months; benchmarks).

Register events

Trustees

Trustee list from the Charity Commission register (current, not historical).

Operates in: Leicestershire

Income and spending

Financial year endIncomeSpending
31/12/2024£3.2m£2.5m
31/12/2023£2.3m£2.4m
31/12/2022£2.4m£1.9m
31/12/2021£1.7m£1.4m
31/12/2020£1.6m£849k

Common questions

Is STATFOLD NARROW GAUGE MUSEUM TRUST LTD financially healthy?

The accounts state that the charity reported a net surplus of £694,764 for the year, with unrestricted reserves standing at £4,912,297. The trustees note that the charity remains dependent on donations from certain trustees to meet operating costs, although they have confirmed their intention to continue providing financial support for at least 12 months. Its FY2024 accounts were audited by BK Plus Audit Limited.