Company registration number.. 03299431
Charity registration nwnber: 1060193
Devon Diesel Society Limited
(A company limiied by guaraniee)
Unaudiled Annual Report and Financial Sialcmenls
for thc Year Ended 31 December 2024
'AE4Q7JIJ'
1410612025
COMPANIES HOUSE
A14
#134 1
Peplow5 Limil¥d
Chartered ac¢ounlRnls
Moorgdte Hoiise
King Street
Newton Abbot
Devon
TQ122LG

Devon Diesel Society Limited
Contents
Reference and Adminislralive Dctails
Trusi¢¢s' R¢porl (including Directors. report)
2104
Independent Examinerfs Report
Siaiemcnl of Financial Activities
Balance Sheet
Notes io the Financial Statements
81016

Devon Diesel Society Limited
Reference and Administrative Details
Trustees
Jon Morton
Rob Evans
lan Mills
David Martin
Karl Atkinson
Chris Deacon
Derek Higgs
Adam Howard
Company $tcretary
David Marlin
PrlDclp¥l O￿l¢e
78 Brantwood Drive
Paignton
Devon
TQ4 SHY
Company Registration Number
03299431
Ch#rlty Registr#tlon Number
1060193

Devon Diesel Society Limited
Trustees, Report (including Directors, report)
Th¢ Tru51¢¢5 Pre￿￿t th¥ir report and th¢ unaudited finan¢iJl stat¥menls of the Lharity for the year cnded 31
December 2024. The trustees have adopted the provisions of the Siatem¢nl of Recommended Practice (SORP)
'Accounling and Reporting by Charities" in preparing Ihe annual report and financial slalements of the charity.
The Irusiee5, who are directors for the Plirposes of company law, present the annual report togethcr wilh the
financial sraiemenls of the chatitsble company for the year ended 31 December 2024.
Trustee5
Jon Morton
Karl Atkinson
Rob Evans
Ian Mills
David Martin
Chris Deacon
D¢rek Higgs
Adam Howard
Str¥iturv> 8ov¢rnAni¥ and minAgemeTht
Nalure ofgoverning doc'uni¢nl
The ¢h¥rity is conlrolled by its governirt8 document, Ihe arricles of associalion, and consiifvled 8s a limilcd
company. limited by guaraniee. as defined by the Companic5 Act 2006.
The company was incorporal¢d on 6 January 1997 and re￿istered as a charily on 16 Janu3ry 1997.
The liability of full members of the charity is an undertaking lo conlribute lo the assets of the charitable company
in the eveni of li being wound up, while a member, or within on¢ year of ceasing lo be a member, a sum not
exceeding one pound.
Recriiitnient and appuiiifnieiil ufirusiee&
There sliould be a Ininiinum of three Iruslees ai any time, bul Illere is no rnaximum. A third of trustees
automatically relirc al every AGM but may be reappointed it. Ihcy wish lo ¢onlinue. New trustees must be
recommended by existing trusiees and must be al least 18 years old.
Arrftngementsfor setting key mrtnrtgemenlpersonnel remuiieration
TNslees are not remunerated.
Organisqlional slruL'lure
Thc Chariiy is not part of a groiip.
The trustees meet at least three tirnes a year lo discuss progression against obj¢clives and to tormulaie future plans.
Pag¢ 2

Devon DAesel Society Limited
Trustees, Report (including Directors, report)
Objectives aDd aetlvltles
Objecls aiid aims
The Charity's objectives are to advance the education of the public in the history and developrnent of railways
and locomotion by the preservation of diesel locomotives, rolling stock and oihcr equipment and tlems.
The Charily currently owns three locomotives. Class 50 D402.Class 37 D6737 and Class04 D2246. The cornpany
also owns a l 00 year old fomer Great Western Railway tool van. a R¢¢ Tank flat bed rail vehicle and a Siphon
"G. goods vehicle.
There have been no changes in the Charity's objeclives since the last report.
Any Surplus generated by ils aclivilies is applied lo ils cliaritsble purposes.
Thc aim5 of the Charily are io preserve the long term fiiture ot" rhe rolling slock and to provide members of ihe
public wiih educalional inforiiialion lo learn about Ihc Inainlcnan¢¢ and resioralion of locomotives and rollin
stock.
ObJ¢¢'liv¢s, sÈrfifeg4e) lind iic'livities
The Charity raises funds predominantly by Nnning various beer fesiivals on the South Devon Railway, and the
receipt ot. regular subscriptions and donations.
Public benef¥1
Educalion of ihe public in Ihe.mainlenance and the running of rhe locomotives.
The Iruslres Lonfimi Ihal Ihey have Lompli¢d with ih¢ requirements of seLlion 17 of Ihe Charities ALI 2011 10
hav¢ due regard lo the public benefi1 guidance published by the Chiirity Commission for England and Wales.
Grai1¢ makiftg puli¢ies
The Charity can Lise surplus unrestricted [L￿dS lo makes gr3nls to other organisations if such applicalions are in
ar¥ordan¥e with rhe obJe¥lives of the Charity.
Use of voluNleer5
The Charity receives the benefit of volunleer services; Ihesc are nol quantified in the accounls as this cannot bc
quaniifi¢d.
Th¢ volunteers fill various roles. such as vehiclc resloration aiid maint¢n#nce and assisting with fund raisin¥
activilies.
All of Ihe Board ot'Trustees are voliinlccrs.
Achievemenls andperformnnce
During the year the charity made 8 5urpliis/(deficit) from ￿Trd raising events of £20,380 (2023 - £15,537) and had
charitable expenditure ot'£34,859 (2023 - £31.317). The deficit tor the y¢ar was £3.927 (2023 - £482). Th¢ d¢fiGit
was planned as the charity is investing heavily in thc repair and refurbishmcnl of its locomotives.
Page 3

Devon Diesel Society Lirnited
Trustees, Report (including Directors, report)
Flnanclal revlew
At Ihe end of the year the charity had unrestricted reserves of £13.195 (2023 £17,312).
Policy on reserves
The Charity continues its. policy of accuinulaling funds to provide for large scale re51orationlovcrhaul work on ils
locomotives and rolliii8 Stock.
Prlncipolfundirtg sour¢e5
Funds arc pr¢dominanily rai5cd via regular donation amounls And by the runnin8 of beer festivals on lh¢ Souih
Dcvon Railway.
Golng ¢oncer
The accounts are prepared on the going concern basis as no Inaierial uncertainties exist.
For the finanLial y¥ar ¥nding 31 DeL¥mb¢r 2024 Ihc Charity was enlitl¢d lo exemplion from audit under seLlion
477 of the Companies Act 2006 rel&41in¥ to small ¢ompdnie&.
Direclors, responsibililies..
Th¢ members l)ave noi required Ille Charity to obtain an audit of ils accounts for rhe year in question in
acLordance with seulion 476; and
The directors a¢knowledge their responsibilities for complying with Ihe requirements of Ihe Act with respect
lo accouniin8 r¥cords and ihe preparalion of accounls.
These accounts have been prepared in accordance with the provisions applicable to companies subje¢t io th¢ small
companies regime.
Th¢a
al r¢porl was approved by th¥ truslees of the Charity vn 2Dif and signed on it5 b¥half by..
orlon
Istee
Page 4

Devon Diesel Society Limited
Independent Examiner's Report to the trustees of Devon Diesel Society Limited
I report lo the Lharity Irusi¢es on my examination of the aLcount5 of thc Lompjny for the year end¢d 31 December
2024 which are sel out on pages 6 10 16.
Respon51blll¢les and basis of report
As the charity Iruslees of the company (and dlso ils directors for the purposes of company law) you are responsible
for ihe preparalion of Ihe accoLinls in ac¢ordanc¢ with (he r¢quir¢m¢nts of thc Compani¢s Act 2Q06 {'Ihe 2006
Act.).
Havinbl Satisfied myself ihat the accounts of the company are noi required lo be audited under Part 16 of the 2006
Act and are eligible for independent exaimination. T report in respect of my examination of your company's
a¢eounts as corried out undcr section 145 of the Charities Act 2011 ('Ihe 2011 Act,). In carrying out my
examination I have followed the Directions given by ihe Charity Commission under se¢tion 145(5)(b) of the 201
Aci.
Independent exthmin¢r'$ $totemtnt
I have ¢ompletcd my examination. l Confirm thai no matters have come io my attention in connection with th¢
examination &iivinbi me cause lo believe thai in any maierial respecl:
accounting records were not kept in respect of ihe company as required by section 386 of the 2006 Act- or
2. the accounts do not accord wilh Ihobe records,. or
3. the accounts do noi comply with the accounling requirements of section 396 of th¢ 2006 Act oiher than any
requiremenl Ihal ihe accounts ¥ivc a 'lru¢ and fair vi¢w' whiGh is not a mailer consider¢d as part of an independent
examination. or
4. the ac¥ounls hav¥ noi b¥¥n pr¢pJred in aLuordanLe with the methods and prin¥iples of lh¥ Statement of
Recommended Practice lor accounting and reporting by charilies.
I have no concerns and have come across no other maltcrs in connection with Ihe cxamination to which attention
should be drawn in Ihi5 report in order to cnable a proper underst8ndin8 of the accounts lo bc reached.
Michael Young FCA
MOOr￿ale House
Kin8 Sirect
Newton Abbot
Devon
TQ12 2LG
6 ri47
Page 6

Devon Diesel Society Limited
Statement of Financial Aetlvities for the Year Ended 31 December 2024
(Including Ineome and Expenditure Account and Statement of Total Recognised Gains
and Losses)
Unrestrieted
funds
Total
2024
Totsl
2023
Restricted funds
Trlote
Income and Endowmenl$ from:
Donalions and legacies
Oiher iradirtg ai.liviti¥s
Investment income
2,039
40,797
8,3S4
10.393
40,797
159
15,170
37.760
128
159
Total Income
Exp¢ndlture on:
Raising funds
Charitable aclivilies
Other costs
(20,417)
(24,785)
{20.417)
{33,108)
(21.545)
(30.299)
696
(8,323)
Total Expenditure
Nei Income / (Expenditure)
190
482
Gross transfers belween funds
Other reLognis¥d gains and Ius$Ls
Nyl mov¥m¢nt in funds
(4,117)
190
(3,927)
(482)
R¥¢onLili¥tivn of fund5
Tol81 funds brought tonvard
Tolyl funds carried forward
14
All of Ihc Charily's a¢iivities derive froiii continuing operations during Ihc above two periods.
The funds break.down tor ?024 is t>hown in note 14.
Pag¢ 6

Devon Diesel Society Lfimited
(Registration number: 03299431)
Balance Sheet as at 31 December 2024
2024
2023
Note
Fixed &$$ets
Tangible assets
12
998
Current assets
Cash al bank and in hand
30.996
33,925
Credltors: Amounts t'alllng due wlthin one year
13
200
Ne¢ current assets
Net •s$ets
Funds of the Charity:
Re$triLted InLome funds
Unrestrlcted income funds
16,601
16,411
Total I'unds
For the financial yedr endin¥ 31 Deccmber 2024 the Charity Wd¥ enliiled lo exemption from audit undcr section
477 ot. the Companies Act 2006 relating to small companies.
Direciors, responsibilities..
The members have noi required Ihe Charity to obtain an audit of 115 ac¢ounlS for the year in question in
accord(Ince wilh section 476., and
The directors acknowledge their responsibilities for complying wilh Ihe requircments of the Act with respect
lo accounling rccords and ihe preparation of aceounls.
These accounts have been prepared in accordance with the provisions appli¢8ble to ¢ompanies subject to Ihc small
companies rtgime.
The financial blatemenls 01? pages 6 ¢0 16 were appmv¢d by the trusl¢es. and auihoriscd for issue on
signed on their behalf by..
and
an Mills
Trustee
Pag¢ 7

Devon Diesel Society Llmited
Notes to the Financial Statements for the Year Ended 31 December 2024
l Accounting poliLie5
Summary of 5ignifirgnt ¥ccounting policies and key SCCOUDting estimates
Thc prin¢ipal accoiinting policies applied in the preparation of these financial slalcments aTe set oul below. Th¢s¢
policies have been consist¢nily applied lo all the y¢ars prcsent¢d, unl¢ss oiherwisc ststed.
Bosis of preparation
Devon Diesel Socieiy Limited is a charity and a private company, limiied by guarantee, in England and Wales. In
Ihe evenl of ihe charity being wound up, Ihe liability iii respect of the guarantce is limited to £1 per member of
Ihe charity. The address of rhe re8islered oftice is given in ihe charity infornialion on p8gc l of thc5¢ financial
slalem¢nl¥. The nalure of Ihe ¢h8rily'b operations and principal a¢livilie> are given in the INslee$' reporl.
The charily constiliitcs a piibli¢ benefit cntity as defined by FRS 102. The financial Stslemenls have been prepared
in aLLordance wilh A¥Loiinling and Reporling by Charities.. Statement of Rccommended PractiLe applicable to
harili¢s pi'epai'iiig their accounis in a¢¢ordance with the Financial Reporting Standard applicable in the UK and
RepubliL of Ireland issued in Oulob¥r 201 g. the FinanLial R¥porling Standard appliLabl¢ in th¢ Uniied Kin8dom
and Republic ot. Ireldnd (FRS 102), the Chdrities Act 201 I, and UK Generully Aecepled Accountin8 Practice.
Th¢ financial 5tal¢mLnls are prepared on a going concern basis iind¢r the historical cost ¢onvenlion, modified lo
include certain items ai fair valiie. The financial siateinents are presenred in sierling which is Ihc funGlional
urrency of ihe charity and roiinded lo ihe nearest £.
IDcome and endtiwment5
Bver festival inLome'.
Receipts and payments reldted io rhe beer festivals are credited lo income and debited lo expenses as they are
Irans8cled.
Doftalions oiid le¥aties
Subs¢riplion 3n(l app¥al inLoiTre.'
Subscriplions and appeal revenucs are credited to inrome as they are received.
Inve5tnient iiiLoiiie
Inlerebt..
B3nk iniercst received is crediied lo income as il is received.
Expendlture
Rfiisiiigfiiiid&
These ure eobts incurred in attracting voluntary income, thc mandgement ot investments and those incurred in
trading activilies that raise funds.
Page 8

Devon Diesel Society Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
Chariloble acliviiies
Charitsble expenditure comprises those costs incurred by the Charity in the delivery of its activities and services
for ils beneficiarles. It includes both costs that can be allocated directly to such activities and those costs of an
indirccl naNrc necessary 10 support them.
Support costs
Support COtr>t.s ineliid¢ c¢nlrdl tun¢tions and havc been allocated lo activity cosi categories on a basis consislcnt
with the use of resources.
GovernancL Losts
These include the costs atlribuiable lo the Charity's Compliance with ¢onstiNtional and stsNtory requirements,
inclLtdin¥ examination, slrate¥ic m#nu¥ein¢nl und Trustee's mcelings and reimburs¢d exp¢nses.
TAxa¢io
The Charity is considered io pass the iests sel out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore
it m¢els the Ilefinilion of a Lhariiable iompany for UK Lorporation lax purpose5. Accordingly, the Charity is
poienlially ¢xempt froin iaxation in re¥pect of income or capital gains received wiihirt ¢alegories covered by
Chapter 3 Pill'l I l of the Corporalioii Tilx Acl 201 O or Section 256 ofihe Taxation of Char8C8ble Gains Act 1992,
lo the exienl that such income or gains are applied exclusively to charitable purposes.
T Anglblt Il%ed as$ets
Fixed assets al'e included initially ai Losi.
Depre¢i#tion and amthrtisation
Depreciation is provided on iaiigiblc fix¢d'a55ets so as lo write off the cost or valuation, less any estimated residual
vali1¢, over Ih¢ir exp¢cted uscfiil Lcoiiomic life lls follows,.
Asset Class
Locomolives
Rollin8 btoLk
Computer and other equipment
Deprecl4rfon mtthod And rate
slraib)ht line 20 year5
siraight line 5 years
straight linc 3 years
Cosh and Lash equivalents
Cash and casli equivalenTS comprise cash on hand and call dep05ils. and other shorl-lerni highly liquid investmcnls
Ihal are readily Lonvertible to a known ainount of cash and are 5ubje¢t to an insignificant risk of change in value.
Page 9

Devon Diesel Soelety Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
Fund accountlng
Unrestricted income funds ure general funds that are available for use al the trusi¢¢'s disGretion in furtherance of
Ihe objectives of the Chai'ity.
Designaied tunds are unrestricted funds and are resources set aside for specific purposes at the discretion of the
trnsiees.
Reslricled incoine ￿ndS are thosc donaied for use in a particular area or for specific purposes, Ihe use of which
is restricted tu thal area ur purpuse.
2 Ineome from donatiuns Ind legacles
Total
2024
Total
2023
Re¥ular ¥iving ortd capil?I I donalions
£8.354 (2023 £7,545) ot- Ihe above income was altribiiled lo the resirieled fiinds.
£2.039 (2023 £7,625) of Ihe above income was allributcd to the unreslricled funds.
3 In¢om¥ Irom oiher tradlng 4ctlvltles
Totil
2024
Totgl
2023
Income fron7 fiindraising7 ¢venlS;
Beer festival income and niiscellaneous sales
40,797
£40,797 {202.1 £37,760) of Ihe above inLoine was atiribuled to the Linrcsttict¢d funds.
4 Investment in¢om
Total
2024
Totsl
2023
Inleresl r¥Liivable and similar income-
Int¢rebl reLcivable on bank deposi1>
159
128
£159 (2023 £128) ot the above inLome was atiribuled to the rcsiricied funds.
£Nil (2023 £Nil) of ilie abovc incoiiie was allributcd to Ihe unreslricled funds.
Page 10

Devon Diesel Society Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
S Expenditure on raising funds
Cost of trading aL'tivities
Tot¥1
2024
Total
2023
Cosis of good5 sold
Support co%ls
Donations
19,013
1,404
20,035
1,510
£Nil (2023 £Nil) of thl above cosis w¢re allribut¢d lo the reslriLled funds.
£20,417 (2023 £21,545) of the above costs were attributed to the unrestricted fund5.
6 Exp¢nditurL on Lhurltoble g¢tlvltl¢s
Activity
ndertgk¢n
dlrectly
Aetlvlty support
costs
Total
2024
Total
2023
Maintenance of locomoiives
£8,323 (2023 - £4,251) of the above costs were atlribuled lo the restriclcd ￿nds.
£24,785 (2023 £26,048) of the abov¥ Losls were altribuled lo th¢ unr¥slriLt¢d funds.
Pagell

Devon Dlesel Society Llmited
Notes to the Financial Statements for the Year Ended 31 December 2024
7 Annlysls ot. governthnLe and support costs
Support costs allo¢Mted to ¢harilable aetivltie5
Total
2024
Total
2023
Basis of
allocation
Maintenance of loconivlives
Support cost$ 411ocated to other expendlture
Tol41
2024
Tot81
2023
Basis ot.
allocation
Fund raisin&v activities
Reference
Method of ulloc¥tlgn
60V/o of g¢neral support costs. including governance costs, are allocated to Ihe charilablc
ailivilies of the Lharity.
4DO/o of general support Losls, including gov¢rnanLe costs, are allocaled to the fund-raising
activities of ihe charily.
Governance Lo$ts
Tolal
2024
Total
2023
Independtnl cxaminaiions fees
Other govcrnance costs
1,470
281
1.416
280
£Nil (2023 £Nil) of ihe above cosis were attribiit¢d to Ihe restricted tiind5.
£1,751 (2023 - £1,696) of ihe above costs were atiribuled to the unreslrictcd fvnds.
Page 12

Devon Diesel Society Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
8 Net inLomingl(uutgtsing) re50urLrs
Net incoming resour¢e.b foi. Ihe year inLlude'.
2024
2023
Depttciation of fixed asseis
998
.763
9 Trustecs, rLmunL'rutSon And expenses
No truslees, nor tsny persons connecied with them, have received any remuneration from the ¢harily during the
year.
During the yeai. the Inisie¥s have rcLeived reimbursement for expertses paid lolalling £Nil (2023 - £Nil). 5 of the
trustees were reiinbui-sed for the expenses during ihe year, whicli relaled lo Ili¢ charitable activities of Ili¢
company.
As the Charity does nvl have ils own Lredil uard faLililie5, Iruslees frequently pay bills on behalf of the Charity
using persoii81 credit cai'(Is and theii I'¥claim the costs
10 Slaft. costs
The monihly avei'age iiiimber ofper.sr)ns lincliiding senior management team) employed by th¢ Charity diiring th¢
year exprebsed as full liinc cquival¢nlb was as follows..
2024
2023
Truslees
No employee received eniol(Imenls diiring the year.
I l T*xatiun
No lax was Lhar¥ed in lh¢ year (2023 £nill.
P3ge 13

Devon Diesel Society Limited
Notes to the Financial Stgtements for the Year Ended 31 December 2024
12 Tttngfible fixed a$setS
Computer #nd
Rolling $tock other equlpment Locomotives
Total
Cost
Ai l January 2024
AI 31 D#L'ember 2024
450
Depreclatlun
At l January 2024
Charge for the year
,450
7,552
50,997
998
59.999
998
Al 31 December 2024
Net book value
At 31 December 2024
Ai 31 December 2023
998
998
13 Credllors: thmounts I'thlling due ivlthln one year
2024
2023
Accruals
Page 14

Devon Diesel Society Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
14 Fund$
B#lJnLe at I
JUn￿￿ry 2024
Incoming
resources
Rt50ur¢es
expended
Tr4nsf¢rs
Balance at 31
December 2024
Unr&strlcted funds
UnreslriLled strenepalfiind.f
General fund
17,312
42,1136
(46,953)
13,195
Unrestricled desigiioiedfuhd
Maintenan¢¢ Fund
Tolal unrestrlcted lunds
Re5trlcted fund$
Class 50 Fund
Class 37 Fund
Maintenance Fund
2,792
10,3112
5,255
1.770
(5,642)
(1.404)
277
2,405
10.748
Total restricted I'und5
8,323
16,601
Tot81 funds
BMl#nce 4t
Jiinuary 2U23
Intoming
resources
Rosourtes
expended
Trin$fer$
Balonce at 31
December 2023
Unrestrleted lund8
Unr&flricitd¥eneMlJiiiids
General ￿nd
21,216
45,385
(49,289)
17,312
Unresfricled dL'signu¢ed]iinds
Maintenance Fund
Total unrestrlcted I'unds
45,385
49,289
17J12
RestrlLbted fund$
Clas5 50 Fund
Clilss 37 Fund
Maintenance Fund
815
9,437
2.737
4,415
1,726
1,$32
(2,438)
{781)
2,792
10.382
Total restriit¥d funds
Total funds
34.205
Page 15

Devon Diesel Society Limited
Notes to the Financial Statements for the Year Ended 3.1 December 2024
The specific purposes tor which the liinds are to bc applied arc as follows..
Class 50 Fund
This bjnd is restricied to direct expendimre to maintain and overhau! the class 50 locomotive owned by the
Charity.
Class 37 Fund
This fund is festricred lo direct expendilure to maintain and overhaul the Class 37 I￿omOtIve owned by the
Charily.
Maintenan¢¢ Fund
This eund is resli'ici¢d to direct expendirure io maintain the Charity's fleet of locomolivcs and vehicles.
There were £Nil (2023 £3,768) of Iranslers froin Ihe Designaied to General Fund in the year to 31 D¢¢ember
2024.
IS Analysis nel 0s¥ets between I'unds
General
fund5
Restricted
runds
Toijl funds
Tangible fixed a5seis
Current ass¢l.8
14,395
(1,200)
16.601
30,996
(1,200)
29,796
Currcni liabilitie5
Total net asbcls
13,195
16,601
16 Rel4ted porty trtsns&¢tlon$
There w¢re no I'¢lal¢d party transa¢tiorts in the year.
Pag¢ 16