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.
Financial health, per its FY2024 accounts
The accounts state that the charity recorded a financial deficit of over £116,000 for the year ended 31 December 2024, resulting in unrestricted reserves falling to approximately £344,000. The trustees maintain a policy of keeping sufficient funds to sustain indefinite operation, though the current reserve level is below the previous year's balance. The independent examiner reported no matters requiring attention, and the accounts were prepared on a going concern basis.
What the accounts disclose
“OpCo Licence fees 185,696” — page 8
“In keeping with the Directors’/Trustees’ responsibilities for keeping adequate reserves, they continue their policy of maintaining sufficient funds as free reserves of the Company at a level to sustain indefinite operation” — page 3
“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
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 |
|---|---|---|
| 31/12/2024 | £455k | £571k |
| 31/12/2023 | £298k | £248k |
| 31/12/2022 | £177k | £201k |
| 31/12/2021 | £164k | £70k |
| 31/12/2020 | £58k | £35k |
Common questions
Is MERCHANT NAVY LOCOMOTIVE PRESERVATION SOCIETY LIMITED financially healthy?
Per its FY2024 accounts: The accounts state that the charity recorded a financial deficit of over £116,000 for the year ended 31 December 2024, resulting in unrestricted reserves falling to approximately £344,000. The trustees maintain a policy of keeping sufficient funds to sustain indefinite operation, though the current reserve level is below the previous year's balance. The independent examiner reported no matters requiring attention, and the accounts were prepared on a going concern basis. Its FY2024 accounts were independently examined.