MERCHANT NAVY LOCOMOTIVE PRESERVATION SOCIETY LIMITED
The object and principal activity of the M.N.L.P.S. is to preserve and maintain in an operational condition, to main line standards, ex-British Railways Southern Region 'Merchant Navy' Class locomotive No. 35028 'Clan Line' and to encourage and promote public interest in the preservation of steam and other railway locomotives and rolling stock, railway machinery & equipment of historical interest.
Objects
TO PRESERVE AND MAINTAIN IN OPERATIONAL CONDITIONS EX SOUTHERN REGION MERCHANT NAVY CLASS LOCOMOTIVE "35028" "CLAN LINE" AS AT THE TIME OF WITHDRAWAL AND TO ENCOURAGE AND PROMOTE PUBLIC INTEREST IN THE PRESERVATION OF STEAM AND OTHER RAILWAY LOCOMOTIVES AND ROLLING STOCK MACHINERY AND EQUIPMENT OF HISTOICAL INTEREST AND IN RAILWAYS LOCOMOTIVES ROLLING STOCK AND RAILWAY MACHINERY AND EQUIPMENT GENERALLY. (FOR FURTHER DETAILS SEE CLAUSE 3 OF MEMORANDUM OF ASSOCIATION)
Financial health, per its FY2025 accounts
The accounts state that the charity recorded a financial surplus of £113,071 for the year ended 31 December 2025, bringing unrestricted fund balances to £444,746. The trustees maintain a policy of keeping sufficient free reserves to sustain indefinite operation, which they report is currently met. The independent examiner confirmed that no matters came to their attention requiring further understanding of the accounts.
What the accounts disclose
“they continue their policy of maintaining sufficient funds as free reserves of the Company at a level to sustain indefinite operation.”
“M.N.L.P.S. Limited is the sole shareholder in a subsidiary company MNLPS (Operating) Limited, which is responsible, under a fee-payable licence issued to it by the Society, for the operation and day-to-day maintenance (excluding major overhauls) of the locomotive.” — page 3
Policies the charity declares
- Financial reserves policy and procedures
- Internal charity financial controls policy and procedures
- Serious incident reporting policy and procedures
- Social media policy and procedures
- Trustee expenses policy and procedures
Trustees
- CHRISTOPHER MARTIN ELLICK
- DAVID EASSON
- David Mowat
- Desmond Philip Shepherd
- Howard George Reynolds
- Ian Millward
- James Cummins
- Simon Alexander Charles Martin
- Thomas Paul McPherson
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2025 | £453k | £340k |
| 31/12/2024 | £455k | £571k |
| 31/12/2023 | £298k | £248k |
| 31/12/2022 | £177k | £201k |
| 31/12/2021 | £164k | £70k |
Common questions
Is MERCHANT NAVY LOCOMOTIVE PRESERVATION SOCIETY LIMITED financially healthy?
Per its FY2025 accounts: The accounts state that the charity recorded a financial surplus of £113,071 for the year ended 31 December 2025, bringing unrestricted fund balances to £444,746. The trustees maintain a policy of keeping sufficient free reserves to sustain indefinite operation, which they report is currently met. The independent examiner confirmed that no matters came to their attention requiring further understanding of the accounts. Its FY2025 accounts were independently examined.