MIDLAND RAILWAY TRUST LIMITED
Preservation of transport artifacts, particularily those relating to road and rail transport and the provision of train services to visitors.
Financial health, per its FY2024 accounts
The accounts state that the group reported a net outgoing of resources of £21,557 for the year, primarily driven by a lack of gains on asset revaluations compared to the previous year. The trustees have prepared the statements on a going concern basis, noting that while the cost-of-living crisis places strain on cash flow, the group has sufficient funds to meet liabilities for the following twelve months. However, the auditors issued a disclaimer of opinion because they could not verify cash balances or total expenditure due to a lack of available accounting resources.
What the accounts disclose
“Other trading activities 3 342,643 1,152 343,795 380,608” — page 15
“Our reserve policy has been set at £200,000 based on the 2021 levels for these items.”
“The trustees have prepared the financial statements on the going concern basis which assumes that the group and charitable company will continue to trade for the foreseeable future.” — page 19
“Because of the significance of the matter described in the Basis for disclaimer of opinion section of our report, we have not been able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion on these financial statements.”
“The charity has received an interest-free loan from a former trustee, S Evans. Throughout the previous and current year, there has been no movement in the balance which stands at £396.” — page 38
“The charity reimbursed expenses totalling £nil (2023: £1,478) to L Ward. This related party is a close family member of a current Trustee.” — page 38
“The charity has received an interest-free loan from a former trustee, S Evans. Throughout the previous and current year, there has been no movement in the balance which stands at £396.” — page 38
“The charity reimbursed expenses totalling £nil (2023: £1,478) to L Ward. This related party is a close family member of a current Trustee.” — page 38
“Appropriate accounting records were not available for the current and previous year, and we were unable to satisfy ourselves by alternative means as to the existence of cash balances.” — page 10
Funders the charity credits
- Arts Council England
- Culture Recovery Fund
- Heritage Lottery Fund
- Derbyshire County Council
- The European Agriculture Fund for Rural Development
Property (HM Land Registry)
Structured financials (annual return, FY ending 31/12/2024)
Trustees
- Richard John Wardchair
- Adam James Asling
- Cameron George Johnson
- Craig Buxton
- Elizabeth Harland
- Evan Green-Hughes
- Nicola Jayne Forster
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £509k | £513k |
| 31/12/2023 | £555k | £870k |
| 31/12/2022 | £454k | £591k |
| 31/12/2021 | £433k | £490k |
| 31/12/2020 | £523k | £551k |
Common questions
Is MIDLAND RAILWAY TRUST LIMITED financially healthy?
Per its FY2024 accounts: The accounts state that the group reported a net outgoing of resources of £21,557 for the year, primarily driven by a lack of gains on asset revaluations compared to the previous year. The trustees have prepared the statements on a going concern basis, noting that while the cost-of-living crisis places strain on cash flow, the group has sufficient funds to meet liabilities for the following twelve months. However, the auditors issued a disclaimer of opinion because they could not verify cash balances or total expenditure due to a lack of available accounting resources. Its FY2024 accounts were audited by Mabe Allen LLP.
Government & lottery funding
| Funder | Date | Amount | Purpose |
|---|---|---|---|
| The National Lottery Heritage Fund | 24/08/2020 | £104k | "COVID19 Midland Railway Trust" |
| The National Lottery Heritage Fund | 22/06/2016 | £36k | "Midland Railway Trust: Securing the Future" |
| The National Lottery Heritage Fund | 13/09/2002 | £50k | "Phase 1 Enhancement of Museum Building" |