Con)pany registration number.. 03299431 CbaTity registratt.oll nurnber.. 1060193 Devon Diesel Society Limited (A Company limited by guarantee) Unaudited Ajllllthl R¢t and FianCial Ststemellts for the YearEDded 31 DEcember 2025 Peplows Limi*d Moorgale House King Street Newton Abbot D¢vou TQ12 2LG 11111 111 •AFSFVZC8' 0210712026 COIAPANIES HOUSE A13
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Devon Diesel Soeiety Limited Contents Reference and Athnini5trative Details Tntytees, Report (includiDg Director5. report) 2to4 Independent Examtherfs Report State¢1 of Finanrial Artivitics Balattce Sheet Notes to the Finall¢ Strtrments 8t016
Devon Diesel So¢iety Limited Reference and Administrative Details Trnstees Jon Morton Rob Evans lan Mills David Martin Karl Atkinson Chns Deaco Der¢k Higgs Adam Howard Company 5e£retAry David Martin Prthelpal O(fi¢¢ 78 Bratw{ Thive Paignton Devon TQ4 SHY Coznpany ReglstrAtioD Number 03299431 Charlty ReElgtratloD Nmber 1060193 Page I
Devon Diesel Soclety LAmited Trustees. Report (IDcluding Directors, report) The TnsL¢es piesenl their ieport and the un4udit¢d fitwicial slal¢nJ¢nts of the charity foi the year ¢nded 31 December 2025. The trustees have adopted the provisions of the stament of Rccornmended Practicc (SORPI "Accounting and Reporting by Charitie5" in preparin8 the annual report and financial SWcments of the charity. The tru5ttt5. who are director5 for the purp05cs of company law, prc5CDt the aDnuo1 rert together with the rwancial slate¢llts of the ch3ri¢ablc WmPaDy for the year ended 31 Dembe[ 2025. Trustees Jon Morton Karl Atkmson Rob Evatts laD Mills David Marfiti Cbns Deaeon Derek Higgs Adam Howard Struftur4 governn¢e ADd mnag¢meD¢ Ntsre ofgoverniR¥do¢#M¢nl The chaTity 1$ Controlled by its govemirxg dotuttwit. th¢ orti¢les of &sociati and constittjted a limited ¢ompany. limited by 8llarantee. as defjned by the Compatii¢s A¢t 2006. The company was incorporated on 6 jUary 1997 and registered as a clwity on 16 Januy 1997. The liability of full ernbers of the cbarity is an undertakin8 to eontribute to the &ssets of the charitable company in tbe event of it being wound up. while a merni%r. or withhn One year of ceasing to be a membei. a sum Dot exceeding one pound. R¢cr¥ilmenland offr¥Me¢5 Th¢Te should be a minimum of three tnsttts at any but thert is maxjmum. A third of trustees automatically retire at every AGM but may b¢ reappoitited if th¢y wish to continue. New trustees must be recommended by existin8 trte¢S and must be ai l¢¥t 18 years old Trust¢es are rtot remunented. Tb¢ Chariry is not part of a group. The trstee5 tal least thTre times a yeartodlscp[0¥ressIOn agL$tObJeCtIves andto formulatc b]replans. Page 2
Devon Diesel Society Limited Trustees. Report {including Directors, report) Obj¢¢tiv¢s xDd Activities Objects dl$ The Charity's obj¢ctiv¢s are to advance the education of the public in the hi$tory and d¢v¢lopEnent of railways and locomotion by the PresetiOn of diesel locomotive4 rollin8 Stock and othEr equiprnent and ii¢nis. The Charity currentlyowtt$ three locomollves, Class 50 D402. Class 37 D6737 and Clas$04 D2246. The company a]$0 owryjs a 100 year old fornKr Great Western Railway tool vaD, x Rec Tattk flat bed vehicle and a SiphoD "G" 8oods vehicle. There bave been DO cIwLges in the chari$ objectives sill¢¢ th¢ last r¢poTL Any surplus generdted by tts Xtivilies 1$ app.lied.to its charirahle purp05e5.- Thc aims of the Charity arc to preserve tht long tcmi fvture of the rolling sknck and to provide members of the public with educational infonnation to Icarn th)ut the Tnainterwlce and rtstoration of locomotives and rollirtg stock. objec11v, stmiegiu 4nd4divilxs The Charity raises filnds predominantly by ruDning v*ious beer frstivals on th¢ South Devon BAilway. and the receipt of regular subscripti0Ths and dotkation5. Pub¢ bettejli Educatiott of the publi¢ in the maitstetsatt¢¢ atKI th¢ TunDing of the locomotives. The trusie¢$ confimi thai they hav¢ ¢omplied with the requirements of section 17 of th¢ Charities Aet 2011 to have due regard to the public benefit 8uidance published by the CILarity Commission forEthgl¥nd and Wale5. The Chan'ty Can use surplus unrestri¢t¢d funds to makes 8raDts to other organisations if such oppli¢81ioDs are in &¢¢ordall¢e witb the obje¢tiv¢s of the Cbariry. Use of v•luRteers The Charity receive5 the benefit of Yolunteer services" these are noi quantified irk the accounts as thi5 caTUlOt be quantified. The volunteers fill vaTiOUS roles. such &$ ve"¢le restor10 and maintenance and assistitig with Ai5in8 activities. All of the Boardof T1¢¢5 ar¢ volwiteers. Achiévemefitsandpérfopnw&nc¢ Duritlg the year tbt chan'ty tnade a s1(defi£lt) from raising events of £18,864 (2024- £20.38018nd bad charitable cxpenditure of£6.806 (2024_ £34.859). The surplu$ forthe yeaTwas £19,974 (2024-deficit of £3,927). Page 3
Devon Diesel Soclety Limited Tru5tees' Report (includlng Dlreetors, report) inncil rev5ew At the end of the ye4r the chlty had Unrestrict reserves of £27J89 (2024- £13,195). Policy oll rtserves The Charity continlles its policy of actsjmulating fuTKls to provide for large scak restorationloverhaul work on its locomottves and rolling Stock. PrincipdftsttdiNgstsur¢¢$ Funds are predominantly raised via r¢guiar donation and by the rtuming of beer festivals on the South Devon Railway. Golng eotseern The accounts are prepared on the 80ing ¢0¢r basis os no Materi ut)¢eff•nii¢s ¢xist. For the financial year ending 31 December 2025 the CThaTiry W&8 entitled to exemption from audit under section 477 of the Compatties A¢t relatlng to small companie5. Directors. responsiTr*ilities.' The members have not required the Cbarity io obtain 8udii of its accounts ftsr the year in question IA accordaDce wilh section 476. and Thc directors acknowledge their respoDsJl>iknties for ¢on)plying with the requir¢m¢nts of the Act with r¢sp¢¢t to a¢countitig records aDd tht preparation olaccounts. These accoutlts have been prwed in accortsewith the provisions applicableto companie5 Subject to the small ompanies regitne. The atmuai t¢port was appToved by the trNsrees of the CFthrity OD l Jtstte 2026 8nd signed OD its behftlf by: Jon Morton Tnte¢ Page 4
Devon Dfiesel Society Limited Independent Examiner's Report to the trustees of Devon Diesel Society Limited I r¥purt to the charity on my exarnination of the xcountsof thccompany forthc y¢ar ended 31 D¢¢ember 2025 whi¢h are set out on pages 6 Lo 16. RespoD51bUities ba515 of report As the charity tntysof the company {andalso its directors forthepwpose5 ofcompaoy law) yi)u are resy)nsible for th¢ prepardtion of th¢ accounts in a¢¢ordw with the TequiT¢ments of th¢ Companies Act 2006 ('thc 2006 Act,). Having 5atisli¢d myself that the a¢¢¢yJnts of the C0Thany are not rcqiiired ¢0 be audited er Pan 16 of the 2006 Act and ar¢ ¢ligible for ithjependent examination. I [qrt in respect of my exaTnillatioD of your company's a¢counts as carried OUL under section 145 of rhe ChaTi¢ies A¢t 2011 ('the 2011 Aci.). In canying out my examination I have followed the Directions given by the ChaTityCommis5ion under section 145(5)(b)ofthe 2011 Endepeod¢llt exlmirter's $txt¢ment I bave wtllpl¢t¢d my uamithation. I confinn that no mattcr5 hav¢ me to my att¢rttion in conne¢tion with th¢ examitiation givitig rD¢ caus¢ to believe that in aoy material respect: l. accountiDg records were not kept in r&spECt of ibe ¢OTnpany as required by setti¢)n 386 of tbe 2006 Act,. or 2. the accounts do not accord with those records" or 3. the accounts do not comply with the accotIn8 requir¢mettts of sectioD 396 of thc 2006 Act other than any requirement thai the accounts ghve a'trne alld fair view. wtrtt.ch is not a matter considered as partof an ind¢p¢ndent examination- or 4. the accounts have not been prtptd in accordm¢e with the methods ar prui¢iples of the Statement of Rccomme#ded Pra¢tite for accounting and reportimg by charities. I have no ¢on¢ern5 and have Come act055 no i)tbcr matter5 in CODD¢¢tion with ttle examiothon to whicb attention shou]d be drawn in this repon in order to enabl¢ a prop¢r underswdin8 rjf the a¢¢ounts to be reached. Michael YouDg FCA Moorgat¢ House Ku)g Street Neoll Abbot Devon TQ12 2LG l Jwie 2026 Pagc 5
Devon Diesel Society Llmited Statement of Flnxn¢ixl Activities for the Year Ended 31 December 2025 ncluding Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestri¢t¢d Totsl 2025 Tot41 2024 Re5trieted funds Incom¢ attd EtsdowmeTrts from: Doti&tiOAS aud 1¢8&LCS Other trading activitie5 Investment income 710 7,770 39.439 146 10,393 40.797 159 39.439 146 Totsl Inrome Expendltur¢ gn: Raising funds Charitable activities" Other co$ (20.575) {3.950) 1.430 (20,575) (5.376) (20,417) (33.108) (1.426) Total ExpendiluTe Net tncomt l (Expendtture) Gross ttwfeTs bettveeTL fvnds Other recogni5ed gains *od losses Net movemeot io fijrtds 14.194 5.780 19,974 (3.927) Recon¢iligtion of funds Total funds brougbt forward 16.601 29.796 33,723 Toral filttds catrAed fonvard 14 22 81 All of the CharLS activilits derive frorn continuing opernions dLmg the atA)V¢ EWO p¢nrds. The fimds breakdown for 2025 is sllown in note 14. Page 6
Devon Diesel Society Limited (Registration number: OJ299431) Bg12n¢e Sheet at 31 Deeember 2025 21125 2024 Note rued #ssets TarLgibl¢ assets 12 1,71 Curr¢Dt AM¢t$ C&sh ai battk and in haod 49.270 30.996 Cftditors- Amouttts falling dwe Tvitbity oe year 13 Net current assets 48.070 29,796 Net a$$ets Fllnds of the Ch4rity: Restrieted irt¢om¢ funds Unrestricted income funds 21,858 16,601 T•¢1 (md5 49,770 For the flnzncial year elldin8 31 December 2025 the Chan'ty was eutilled to exemption from audit under s¢¢tion 477 of the Companies Aei 2(#)6 relating th small companies. Directors, rwnsibiliti¢s'. The members have not required the cban.ty to obtsiD an audit of its accounts for the year in question it) accordance with section 476.. and The directors a¢knowledgc their responsibilities foT complying with the requiremthts of the A¢t with respect to accounting r¢cord5 and the prwti(Kh of arwts. Theseaccounts hav¢ ed in a£conknwith theprovisionsspplicable to ¢on)paoies subJe¢t to thesmall companies regirne. The financial 51atements on page5 6 ty 16 were approved by the ttustees. 8Dd authorised for issue ott l June 2026 and s7cd on their behalf by.. lan Mill$ TTUStee Page 7
Devon Diesel Soeiety Limittd Note$ to the Financial Statements for the Y¢ar Ended 31 December 2025 l Accountlng polities Summary of sigDifiullt accouDtthg polkles nd key ¢¢ouAting estim#t¢s" The principal aceout)ting lIcIeS applied in the preparatstsn of these fiDan¢j31 staternents art set out below. These policies have been consistently applied to Oll th¢ ycats Pr¢SlL unlc5s oth¢rwis¢ Basis of prepgration Devon Diesel Society Limited is a cban'ty and a private coinpany. IiTnitrd by guofaDt¢e. ill England and Wales. ID tht event of the charity being wound up, th¢ liabiliry in rewi of the arantee is iimite4110 £1 per member of the rhariry. Tbc address of the rcgi5tcred office is giveD ID tbe chan'ry iDfonllation on page l of these f]narKia] statements. Th¢ natUT¢ of the rban'ws ijptrations and principal activitses are given in tbe Inb5tees' teport. The charity collstimtes apublic beDefitcntity 35 defined by 102. The fLDancial statements have been prq>ared in &¢eordance with Accounting and Reportin8 by Charities." Semet)I of Reeommended Practice applicable to ¢haTities preparing thEir accounts in accordance with the Financial Reporting Stsodard applicable in the UK aDd R¢publi¢ of IrelaTLd issued in October 2019. the Financial Reporting Standard applicable in the UnÉted Kingdom and Republic of Ireland (FRS 102), the cIltieS Act 201 l. 4nd UK Generally Acttpted Accounting Practice. The fjnancial ststements are prepared on a going ¢on¢ern basis under the historical cost eoTLvention. modified to include certain items at fair value. The r]r&neial ststements are presented ID sterling which is th¢ fijnciional Cu¢ncY of the charity and rounded to the n¢ar¢st £. Income *Dd endowmtttts Be¢r festiv31 income.. R¢c¢ipts and payments relatrd to the beer ftstivals are credited to income and debited to expenses as tY a transacted. Subscripiion alld appeal illcollje.. Subs¢riptions and appeal reythues are ereditsl to inco u thry are rcccivcd. Jnwe51m¢B¢ iRCO4W¢ tllt¢r¢si'. Baok int¢r¢st r¢c¢iv¢d is creth.ted to iDcome as it is received. Expenditure R4isin8fHHd5 These are costs incurred in attractin8 volw)wy in¢om¢. the nB¢m¢1 of investtn¢nts and thos¢ in¢urTed in tr1Thg activities Itt raise fids.
Devon Diesel Sodety Limited Notes to the Financial Statements for the Year Ended 31 December 2025 Charitable expenditure COTllpri5cs those c0515 incurrcd by the Charity in the dclivery (pf ILS a¢tiviti¢S and servivs for its bellefi¢iari¢s. It iocludes both costs that ¢an be aUoced thre¢tly to such a¢tivities at)d those costs tsf an indire¢t Datt]re necessary to SUPIrt them. Support Costs Support ¢OSL3 include ¢entyal functions and have been allocated to activity ¢osi categories on a basis consistenl with the w¢ of Tesources. Governn¢e costs These include the Costs attributhble to the Charity's mplianCe with conStiOnal and staLUtory requirements, including examinatiot). str•teuW.iagemeutandl¥uee'$ned1Uanthre1Mb"utsed exp£e$. Tation The Charity is consideied to passthe tests seiout in Paragtaph I Schedule 6of the Finance Act 2010 and therrfoie it tneets the defjnition of a charitable company for UK corporntton lax Purposes. Accordingly, the Charity is po¢¢ntially ¢xcmpt from tsxation in respcct of inrotne or capital gairts received within eategories covered by Chapter 3 Part I l of the Corporatiort Tax Act 2010 or Seth'on 256 of the TaKatiott of Clwgeable Gains Act 1992, to Ihe extent Ibat $u¢h in¢om¢ or 8aios aTe appli¢d ¢x¢lwively to ¢trwAtabl¢ pvrp05ts. Tangible fixed ssets Fix¢d assets are included initsally at wst. Depretiation ajnortisalio Dcpreciationisprovided on tangible fixed assets so a5tO WTite offthe costorvaluation. less any¢stim r¢sidu81 value. over tbeir expccted useful CCODomic life a5 follows.. Amet Clas$ Locomotives DepredAtlon method nd rate strnight line 20 years strajgbt line 5 years stiaigbt line 3 years Rolling stock Computer and oth¢r Cquipmcnt Cash and ta5h equivalents Cash and ¢8sh equivalents c<)mprisewhonlwJd a1call d¢p)sits. and othersIx-te1rn highly liquid investt7nts tbat are readily convertible to a amouni of cth and are Subject to an I18n1ficanI Ti5k of change ia value. Page 10
Devon Diesel Society Limited Notes to the Flnantial Statements for the Year EDded 31 Detember 2025 nd accounting Unrcstricted income flln are genernl fvnds that are available for use ai the t[Stee discretion in furtheran¢e of the obJe¢tives of the Charity. Designated funds are unrrs¢riried fimds and are resoiirce5 Set aside for specific putposes at the dlscrehon of the ttusie¢s. Restricted income are tbose dottated fox in a pkncu]ar areo or for specific purrA)sw, the use of which is restricted to that area orputpose. 2 Incomt from donatloms and legrtties Total 2025 Total 2024 Regular giving and capital donatioDs 7.770 £7.060 (2024_ £8,354) of the above iwme was attrilted w the rcstrict>J funds. £710 (2024 - £2.039) of the aFM)ve income w&$ attributed to the unrestricted fimth. 3 Income from oth¢r trxdlthg *etivities Total 2025 T4)ts1 21124 In¢ome from fththising events: Beer festival income and mis¢ellaneow sales £39.439 (2024- £40.797) of the above income was attributed to the UtestrIcted fill5. 4 Inveslrnent IDcomt T(trtsl 2025 Total 2024 Interest receivable and SiTnilar income- lllterest rcceivable OD bank deposits 159 £146 {2024_ £159) of th¢ aix)v¢ income w&8 attributed to the restricted fiLDds. £Nil (2024- £Nil) of th¢ above incom¢ was attributed to the u¢)ffstri¢Led fi&%. Page 10
Devon Diesel Society Limited Notes to the Financial St2tement$ for the Year Ended 31 Decernber 2025 5 Expenditsre raising Cost of trxding a¢tivltle5 Total 2025 Total 2024 Cosis of goods sold Support costs Donations 19,779 796 19.013 1.404 £Nil (2024- £Nil) of th¢ atKJve costs were attribut to th¢ restricted funds. £20,575 (2024- £20.417) of the aiywe ¢osts were attnTruted to the UDrestrictcd fiujds. 6 Expendit•re on rharitble *¢tivit6Ès A¢livity und¢rtak¢n Activity support dlrrftly costs Total 2025 2024 M8itiieDaD¢e of lo¢omolives 3.427 5.376 £1,949 (2024- £8,323) of thc above costs were attributed to the re5trictcd funds. £3,427 {2024- £24,785) of tht above costs wwc attributed to tht unrestsicted fvnds. Pa8e 11
Devon Diesel Society Limited Notes to the Flnxncial Statements for the Yegr Ended 31 December 2025 7 An4ly5is of governante aDd support Costs SPpOrt costs ll•eited to charitable artivitie5 Totsl 2025 Total 2024 Bsis of l)o¢ation Maitttenanee of lo¢omotives 193 Support ¢08ts •lloeted ¢0 other expeDditure Total 2025 Total 2024 Basis fyf •llotation Fund raising activities 796 B$is of allocatio Ref¢r¢n¢¢ Meibod of llo¢*rfo 60Qh of geueral supp)rt costy in¢luditt88ov¢rnance costs. ate allocated to the charitable activities of the charity. 400/0 of general support ¢OSts. iDcluding goveToance co$t4 ar¢ allo¢at¢d io the fund-raisin8 activities of the charity. Governance costs Totsl 2024 Tot81 2024 Ir]dependent examiltIonS ftts Other govcrnance costs 1.344 96 1,470 281 £Nil (2024- £Nil) of th¢ at4)ve Costs were attributed io the Testricted fiwd5. £1,430 {2024- £1.751} of the abov¢ ¢0sts were attribu to the uDrestrictcd ffiJnd5. Pa8e 12
Devoll Diesel Society Limited Note5 to the Financial Statements for the Year Ended 31 December 2025 8 Net ineomiDyl(outgoiD&) reso¥rce5 Net incomin8 resowces for the year intlude.. 21J25 21124 Deprccration of fixed 85sets 998 9 Trnstee$' rem¥mer#rfon #lld exptthses No trustee5. nor any persons connected with them. have received any remutseration from the chiry during the year. During the year tbt trustccs bvc reived reirnbuTseD)¢oi for cxpcoses.paid.totslliDg £Nil (.2024- £Nil)."6 of.the - trustees w¥re' reimbursto loi the expenses during the yw. wb]"ch lated to the c]witabl¢ a¢tiviti¢s of the OTnpany. As ihe Charity does not ha its own crtdit card facilitie& tswi¢¢s fr¢quently pay kn"l]s on behalf of ihe Ch8rity sing personal ¢redit ¢ard8 and then reclaim the costs 10 Staff costs The monthly average numOf perso (including seniormanagementteatth) employed bythe Charity during tbe ytar expresd &$ fvll time equivalcnts was as follows.. 21J25 21124 Tntslees No employtt received emoluttlents duriDB tht year. 11 Taxadon No tsx was ¢har8td in the year {2024- £nil). Page 13
Devon Diesel So¢iety Limited Notes to the Finaneial Statements for the Yeor Ended 31 December 2025 12 TaDgible fixed 1$sets C•mpytsr ttd Rolling stotk other tqllipm¢ttt t)¢00t1¥¢8 Totxl Cost Ai l Jonuary 2025 Additio 800 At 31 Dtternb¢r 2025 450 9J52 62.797 Depre¢ltlo At l January 2025 Charge for the year ,450 7J52 100 51,995 60.997 loo At 31 December 2025 450 Net boTrk val¢ At 31 December 2025 1.700 1.700 At 31 December 2024 13 Cr¢dltors: amounts C•liittt due Ivifhin one yur 2025 2024 Accrnals Page 14
Devon Diesel Soei¢ty Limited Notes to the Financial Statements for the Year Ended 31 December 2025 14 Fumds Blnte At I 2025 IDcorning resourtes Res0r¢e1 expeoded Trosfers Balance at 31 December 2025 Unre8tritted funds Unres¢ric¢edKenernlf¥Thds G¢nrral fund 13.195 40.149 (25.955) 27,389 Total IiDrestri£ted funds 89__.__ R¢5trActed funds Clas5 50 Fulld Cla$5 37 Fund Maittienance Fund 2,405 10.748 3.448 4.187 1.709 (1,426) 5,166 12.457 4,758 Total rtstrirted fthd$ 16 22 Totsl fmnds 29.796 47J5S 27J81 Bzlanee at I J*nu#ry 2024 Resovrfe5 eipellded TraDsfer5 Balance at 31 Detember 2024 Unrestrlcted fuD4ts General ffijnd 17J12 42.836 (46.953) 13.195 Total unresded funds 17 12 953 RtStri¢ted futtds Class 50 Futul Class 37 Fund Maintenance Fund 2.792 10.382 5.255 1,770 (5.642) (1.404) 2.405 10.748 Tot¥1 rtstri¢t¢d f•Md$ JA411 13 8J23 1&601 Totsl rDd9 51 49 76 Page 15
Devon Diesel Society Limited Note5 to the Financial Statements for the Year End¢d 31 December 2025 The.sptcific purposes for which the fut)ds are to applied are as follows.. Class 50 Fund This fund È$ r¢5tricted to dirttt expeDditte to ma118]n a1 ovcrbaul the class 50 lo¢omotiv¢ owned by the Charity. Class 37 Fund This filnd is restricted to direct expenditure to maiDtsin I1 overbaul the ¢las$ 37 lo¢omoiive Own by th¢ Charity. MaInteDCe Fund Thi5 fvnd is r¢stri¢ted to dire¢t expenditure to tiuintsitt th¢ Cty.5 flett of locomotive$ aDd vehicles. IS Analysis of net ssets b¢tt¥ee Restricted Totsl funds Tangible fixed assets Current &ss¢ts 1.700 27.412 (I,21M)) 27.912 1,7 49.270 {1.2CKI) 49.770 21.858 Current liabilities Tothl nei assets 21,858 16 Rdated party traDsietloxs P8g¢ 16