MIDLAND RAILWAY TRUST LIMITED

• ⚠

  Material uncertainty over going concern

  The Group had an overall deficit in the year of £21,557 (2023: surplus £1,771,370). This is represented by a gain on revaluation of fixed assets of £nil (2023: 2,062,456) offset against net expenditure of £3,092 (2023: £311,446). 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. The validity of the assumption is based on the trustees' assessment of future cash forecasts and revenue projections and for the reasons set out below. ... In this situation, without any new sources of funds, the group and charitable company's currently available liquidity could be exhausted. ... there is no guarantee that such funds will be available.

• ◆

  Audit opinion: Disclaimer of opinion

  Latest auditor's report carried a non-clean opinion.

1. MIDLAND RAILWAY TRUST LIMITED 1976-12-31 → present
2. MIDLAND RAILWAY COMPANY LIMITED (THE) 1973-02-20 → 1976-12-31

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

Mabe Allen LLP

Audit opinion

Disclaimer of opinion

Going concern

Material uncertainty disclosed

“The Group had an overall deficit in the year of £21,557 (2023: surplus £1,771,370). This is represented by a gain on revaluation of fixed assets of £nil (2023: 2,062,456) offset against net expenditure of £3,092 (2023: £311,446). 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. The validity of the assumption is based on the trustees' assessment of future cash forecasts and revenue projections and for the reasons set out below. ... In this situation, without any new sources of funds, the group and charitable company's currently available liquidity could be exhausted. ... there is no guarantee that such funds will be available.”

Group structure

1. MIDLAND RAILWAY TRUST LIMITED · parent
   1. Midland Railway Enterprises PLC 0.297% · Trading subsidiary

Significant events

• “New events such as a 1980s weekend were introduced to create new markets and the theme of innovation continues as the team look towards the next year by building new teams with external entities to deliver more visitor attractions. Santa Specials were further developed to improve performance and customer satisfaction, with more offerings for our visitors and increased reliability and resilience built into operations to ensure our visitors have an entertaining and relaxing visit.”
• “A line up of the charitable company's most popular events are scheduled for the rest of 2025. A number of new events are being assessed to bring in additional revenue.”
• “Progress will continue on restoring the Trust's assets and overhauling key infrastructure in a manner which combines longevity of the work done with quality to ensure the maximum value is achieved from overhaul costs. Commercially, it is intended to deliver new Electronic Point of Sale systems and further improve our advertising strategy and provide new and exciting visitor events.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

5

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -8.4%

  £555,408 → £508,654

• Cash

  +17.2%

  £282,566 → £331,071

• Net assets

  -0.1%

  £4,985,338 → £4,982,247

• Employees

  0%

  4 → 4

• Wages

  -6.1%

  £78,346 → £73,562

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers