REGISTERED COMPANY NUMBER: 03157171 {England and Wales)
REGISTERED CHARLTY NUMBER: 1094938
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
FOR
CYMDEITHAS RHEILFFORDD ERYRI
ALSO KNOWN AS
WELSH HIGHLAND RAILWAY SOCIETY
Williams Denton Cyf
Chartered Certified Accountsnts
Glaslyn
Ffordd y Parc
Parc Menai
Bangor
Gwyn¢dd
LL57 4FE

CYMDEITHAS RHEILFFORDD ERYIU
ALSO KNOWN AS
WELSH HIGHLAND RAILWAY SOCIETY
CONTENTS OF THE FINANCIAL STA TEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page
Report of the Trustees
Independent Examkner's Report
Statement of Finvdncial Activities
Balance Sheet
9 to 10
Notes to the Financial Stalements
11 to 18
Detailed Statement of FiDaD¢ial Activities
19 to 20

CYMDEITHAS RHEILFFORDD ERYRI
ALSO KNOWN AS
WELSH HIGHLAND RAILWAY SOCIETY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees who are also directors of the charity for the PUTposes of the Companies Act 2006, present their report with
the financial statements of the chaTity for the year ertded 31 December 2024. The trustees have adopted the provisions of
Accounting and Reporting by Chatities: Statement of Recommended Practice applicable to Ch￿ltIeS preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of treland (FRS 102)
(efferliv¢ l January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The charitable company is ¢slablished for the advancem¢nt of the education of the public by ¢n¢owaging and promoting
public interest in the Caern￿oll to Porthnmdog Railway including the fornier Welsh Highland Railway (the IVHR)
which closed in tbe 1930s. This includes its history. restoration. operation, railway locomotives and rolling stock,
machin¢ry and equipment of historical and general interest.
The WHR is owned and operated by the Festiniog Railway Company (the Company). The Society's members play a
leading part in the maintenance. development and operation of the WHR.
The most significant proportion of the Society's work involves sponsoring and funding projects around the rnilway.
Tbese range from the more obvious things such as the restoration of locomotives such as NG15 No134 Kalahari,
together with the maintenance and improvement of the tracl through to less glamorous tasks such as the constDJction of
station Si￿&S and other furniture.
Page I

CYMDEITHAS RHEILFFORDD ERYRI
ALSO KNOWN AS
WELSH HIGHLAND IL41LWAY SOCIETY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
ACHIEVEMENT AIND PERFORMANCE
Charitable activities
2024 Saw the Society CQDtinue to pursue its Ch￿itable objectives.
In conjunction with the Festiniog Railway Company the Society hosted a successful AGM weekend in September 2024
with NG15 No134 KalabaTi on display in steam alld available for foottilate rides and a special train for members and
guests hauled by the first Garratt locomotive Kl.
The AGM saw the retirement of two long Se￿Ing Directors. Dafydd Thomas and Elwyn Jones, both joined the Board as
long ago ￿ 2000 with Dafydd being Chaiman for 14 years. Tbeir commitment and experience will be much missed and
th¢ Board thanks them on behalf of the Society and the railway generally. RogeT Bentley and Caleb iA)v¢grove werc
w¢lcomed to the Board. both are exp¢ri¢nced foolplat¢ volunt¢¢rs and Rog¢r is also a Dir¢cior of the Ff¢stiniog Railway
Society. These changes mean that seven of the Dine directors have been elected in the last four years. We hav¢ lost
experience but gained fresh perspectives.
Also during tILe year our Honorary Archivist, Gareth Haulfryn Williams, infornied us he wanted to retire from office.
The Society's Board thanks him for many years, hard work on our behalf. We were very fortunate that a volunteer
quicldy offered to fill the vacancy and Dave Russell, who many of our members will already know from his work as a
platforni host and Boston Lodge guide, was appointed. We very much look forward to working with Dave.
Towards the close of the 2024 season, Society Directors again joined colleagues from the Ffestiniog Railway Society to
support the Company's Bygones Weekend. Recognising the common aim of supporting the ongoing maintenance,
development and running of the Welsh Highland and the Ffestiniog Railways, Directors fronl both Societies now share
examples of good practice and innovation.
The Society was again pleased to work alongside the Company staff in the planning and n￿￿ing of Santa trains. After
many years of successful operation we are now frequelltly welcoming the children of parents who themselves were
passengers when they were children. In addition to the recrnitment of volunteeT elves, who collectively contributed many
hours of volunteer time. teams of other volunteers were on hand to prepare and pack gifts, to welcome and entertain
children and families and to clean the trains in preparation for afternoon trips. For many local families, trips on our
bilingual Welsh and English language Santa trains are now an umnissable part of their Christmas, and, for the Society,
an ideal OPPOTtunity to promote local interest in the Railway, its history and locomolives. Unfortunately the first
weekend of 2024's Santa trains was affected by Storni Darragh resulting in the cancellation of the Saturday trains. A
herculean effort by the railway's staff and volunteers allowed the Sunday to proceed as platjned.
Thes¢ aclivitics ar¢ only possibl¢ b¢caus¢ of OUT volunteers and a vital aspect of the Society's puryose is to support and
encourage volunteering. In addition to the many members who have support¢d th¢ Company t]￿Ough individual
volunteering as locomotive crew and Guards. in Pern￿nent Way and customer service Tole5 (such hosts and stewards in
stations and on trains), Tegular working parties have been co-ordinated. Groups such a5 the Black Hand Gang, Tuesday
Gang and the Tuesday Engineering Gang provided vital input throughout the year into nwintenance on and around the
track and at Dinas works and locomotive shed. Often all too unsung are the volunteers who perforni the Society's
administration. the membersbip secretaries. the treasurer and editor. Their valuable WOTk allows the Society to deliver its
objectives without incuring significant expense. Excluding the Cost of printing and CiTculating The Snowdon Ranger the
Society's expenses amount just over 20/0 of our voluntary income.
A significant focus of volunteer activity for many years has been the ongoing restoration of NG15 No134 Kalahari.
Significant volunteer hours were put in between January and December 2024. The skill base of the volunteer group
continued to expand through a mix of training and on-the-job experience. As well as the volunteers, work was carried
out by locally cmploycd Festiniog Railway Company staff. This work was funded by the Soci¢ty which bas now spent
ovcr £747,000 on th¢ PTOj¢Ct. Members, guests and visitors were able to see thc locomotive in steam in September, and
enjoy footplat¢ rid¢s, and a s¢ries of test trains were worked along the Welsh Highland Railway. It is anticipated that the
locon]otive will enter service in 2025.
Page 2

CYMDEITHAS RHEILFFORDD ERYRI
ALSO KNOWN AS
WELSH HIGHLAND RAILWAY SOCIETY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
The Society Board was delighted to see work on the long awaited third class carriage. 2050, begin. This project,
estimaled to Cost something approaching £2(10,000, is fijlly funded by donations to the Society and should enter service
in 2026. This will be the fourth new carriage paid for by the Society over a decade and a half at a total cost of over
£650.000.
The appeal for improved facilities for the Welsh Highland locomotive based at Boston Lodge went very well and we
were able to allocate over £41,000 to this project. However the building adjacent to Road 8 has been found to be in
better condition than expected and this results in a radical redesign of the proposed facilities. The money given for this
project is ring fenced and will only be used for WHR loco facilities at Boston Lodge &8 originally intended.
The Society has been able to provide continuing support to volunteers who travel from a distance through its "Station
View" accommodation at Dinas, which in¢oTporates single or twin rooms, a ￿llY fitted kitchen and comfortable sitting
room. Space is also provided for caravans or motorhom¢s with electrical hook-up points and water taps. Rates have been
nmintained at existing levels to ensure affordability for all.
Four issues of the Society's journal, The Snowdon Rang¢r, were published during the y¢ar, continuing the aim of
keeping members up to date with what is happening on and around the Railway. Occasional articles on the history of the
Railway and other associaled topics have also been included.
Throughout 2024 work continued to re4lesign and update tbe Society's communications. Regular posting of news and
stories on social media has seen a significant increase in interest. and our vibrant Thew website was laLm¢hed during
2024. Our thanks go to Society Directors Ben McCorn)ick and Mark Garthier for tbeir many hours work designing and
Constructing the new website. Thanks also go to our retiring w¢bmast¢rs Dave Tidy and Laurence Armstrong for their
many years looking after our old website.
Fundrafising activitieg
2024 saw the continued appeal to raise funds for the restoration of NG15 No134 Kalahari realise a filrther £27,222. This
figure includes cash donations received through the highly successful on train envelopes and the leftover cuttency
initiative as well as Gift Aid.
The appeal to raise fimds for improved locomotive servicing facilities at Boston Lodge raised £31.175 including Gift
Aid.
FINANCIAL REVIEW
FinAn¢lal position
The main sources of funds since the Societys inception have been subscriptions. donations and bequests received from
its members and other supporters.
During 2024 the Society donated £105,380 to th¢ Company (2023.. £116,566) as part of its objective to promote and
support the WHIL The donations during 2024 r¢latsd mostly to the NGI 5 refvrbishment.
During the year to December 2020 the Society made short tern], interest free loans totalling £400.000 to the Company.
These were to assist it with the then usual need for cash in the winter months and also to assist it in dealing with the
exceptional cash flow issues resulting from the coronavirus restrictions put in place by the Welsh Goven]ment. In 2024
the Society converted the remaining loan balance of £17,434 into donalions to the Company.
Reserves policy
The Societys policy is to maintain an adequate ieserve so as to enable Èt to discharge its charitable obj¢ctives, meet its
ongoing day to day reqUIren￿ntS, and maintain gen¢ral thnds to meet its obligations for committed WHR projects. The
Soci¢tys Chatr, Finance Director and Treasurer conduct regular reviews of cuffent cash balances and projected cash
flow for the forthcoming three years and report accordingly to th¢ Board.
Page 3

CYMDEITHAS RHEILFFORDD ERYRI
ALSO KNOWN AS
WELSH HIGHLAND IL41LWAY SOCIETY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
FUTURE PLANS
The Society will continue its work supporting the development of the Welsh Highland Railway and b¢ a sponsor for a
variety of new projects and continuing to support long iem) aims and projects. In particular in 2025 the Society hopes to
complete the project to restore NG15 No134 Kalahari. proceed wxth construction of carriage 2050 and will be
supporting the projects to provide improved servicing facilities for Welsh Highland locomotives operating out of Boston
Lodge and improved facilities and equipment for infrastructure staff and volunteers.
STRUCTURE, GOVERNANCE AND MANAGEMENr
Governln£ document
The Society is controlled by its governing document, the Memorandum & Articles of Association, and consti￿1¢$ a
limii¢d company> limited by guarantee, as defined by the Companies Act 2006 and is a registered charity as d¢fin¢d by
th¢ Charities Act 2011.
Board meetings, recruitment and appolntn)ent
The Society trustees held regular meetings during the year which were attended by Society directors & officers. and on
occasion, representatives of the Company and trnstees of The Ffestiniog and Welsh Highland Railways Tn]st (The
Trust).
All trustees are elected lor a period of 3 years and may offer themselves for re-election every three years.
Wider network
No one person or body related to the Society (by this we refer to the Company. the Trust and associated companies) has
the entitlement to appoint any of the Charity's trustees. The Society's trustees are only appointed by th¢ members of the
Society.
The Society's relationships with its related parties do not directly impact the operating policies adopted by it as no
related paty can impose a policy decision or change upon it. The Society's role is to support the WHR and it does this
mainly by contributing financially to duly considered requests for funds from related parties in the furtherance of those
activities and objectives.
Related pariles, Remuneration and Expenses Policy
The trustees consider the Society's key management team to comprise of the board of trustees and the senior officers as
they are tasked with directing and controlling the operations of the Society on a day404lay basis. There were no
directors, remuneration, expenses or related paty transactions in the year, and this confimiation is also disclosed by way
of a slatutory nole in th¢ accounls.
Risk management
The trustees have a duty to identify and review the risks to which the Society is exposed and to ensure appropriate
controls are in place to pmvide reasonable &8SUTance against fraud and error.
REFERENCE AIW ADMINIST114TIVE DETAILS
Reglstered Company number
03157171 (England and Wales)
Registered Charity number
1094938
R¢glster¢d office
ststion View
Dinas
Caenwfon
LL54 SUB
Page 4

CYMDEITHAS RHEILFFORDD ERYRI
ALSO IUIOWN AS
WELSH HIGHLAND RAILWAY SOCIETY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
Trustees
D H Thomas (resigned 14.9.24)
IRKing
E Jones (resigned 14.9.24}
M W Garthier
A M Strachan
B E Mccorniick
J M Charles
S Gregory
D N Jones
R D Bentley (appointed 14.9.24)
C M Lovegrove (appointsd 14.9.24)
Company Secretary
A Yale
Independent Examiner
Williams Denton Cyf
Chartered Certified Accountants
Glaslyn
Ffordd y PaTC
Parc Menai
Bangor
Gwynedd
LL57 4FE
Bankers
Barclays Bank plc
Leicester
LE87 2BB
Metro Bank
One Souihampton Row
London
WCIB SHA
Officers
Richard Watson- Membership Secretary.
Bob Zeepvat - Editor of The Snowdon Rangel.
Dave Russell - Ar¢bivist.
Stephen Cheeseman- Treasurer
Dave Kent - President.
Cedric Lodge - Vice President.
Stuart McNair- Vice President
EVENTS SINCE THE END OF THE YEAR
Inforn)ation relating to events since the end of the yeaT is given in the notes to the financial statements.
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The trustees (who ar¢ also the directors of Cymdeithas Rheilffordd Eryri for the pury)oses of ¢ompany law) are
responsible for pr¢paring the Report of the Twstees and the financial stat¢ments in accordance wilh applicable law and
United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Page 5

CYMDErrHAS RHEILFFORDD ERYRI
ALSO KNOWN AS
WELSH HIGHLAND RAILWAY SOCIETY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
STATEMENT OF TRUSTEES, RESPONSIBILITIES - continued
Company law requires the trustees to prepare financial statements for each fmancial year which giv¢ a true and fair view
of the slate of affairs of the charitable company and of the incoming resources and application of resources. including
the income and expenditure, of the charitable company for that period. In preparing those financial statements, the
trnstees are required to
scl¢ct suitabl¢ accounting policies and then apply them consistenily.
observe the methods and principles in the Charity SORP;
make judgements and estimates that are reasonable and prudent;
prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charitable
company will continu¢ in busin¢ss.
The trust¢¢s ar¢ r¢sponsibl¢ for k¢¢ping prop¢T accounting T¢cords which disclos¢ with re￿Onable accuracy at any time
the financial position of the charitable company and to enable them to ensure that the financial statements comply with
the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for
taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the Speci￿ provisions of Part 15 of the Companies Act 2006 relating
to Sn￿11 companies.
Approved by order of the board of trustees on...............
. and signed on its behalf by:
l R King - Trustee
Page 6

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
CYMDEITHAS RHEILFFORDD ERYIU
Independent examiner'$ report to the trustees of Cymdeitha$ RheillTordd Eryn {'tbe Company,)
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2024.
Responsibilitie5 and basis of report
As the charity's trustees of the Cotnpany (and also its directors for the purposes of company law) you are responsible for
the preparation of the accounts in acwrdance with the reqUiren￿nts of the Companies Act 2006 ('the 2006 Act,).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act
and are ¢ligible for independent examination, I rq)ort in respect of my examination of yout charity's accounts as carried
out under Section 145 of the Charities Act 2011 ('tbe 2011 Act,). In carrying out my examination I have followed the
Directions given by the Charity Conjmission uThdeT Section 145(5) (b) of the 201 l Act.
Independent eiaminer's statement
.1 have completed my examination. I confTh that no matters have come to my attention in connection with the
eAan)ination giving me cause to believe:
accounting records were not kept in Tespeth of the Company as requir￿ by Section 386 of the 2006 Act. or
the accounts do not a¢¢ord with those records. or
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any
r¢quirement thai the accounts give a tnje and fair view which is not a matter considered as part of an independent
examination. or
the accounts have not been prepared in accordance with the methods and principles of the Statement of
Recomn]ended Practice for accounting and reporting by charities (applicable to chaTities preparing their accounts
in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the ¢xamination to which attention should
be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mr Martin Barrett FCCK CTA, MAAT
Williams Denton Cyf
Chartered Certified Accountants
Glaslyn
Ffordd y Parc
Parc Menai
Bangor
Gwynedd
LL57 4FE
Page 7

CYMDEITHAS RHEILFFORDD ERYIU
ALSO KNOWN AS
WELSH HIGHLAND 1141LWAY SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
Total
funds
2023
Total
fi]nds
Unrestricted
nds
Restricted
fimds
Notes
INCOME FROM
Donations and legacies
28,845
5,163
34,1)08
28,189
Charitable activities
A¢¢on)modation
Subscriptions and App¢als
5,242
104,036
5,242
126,215
3.336
102.819
22,179
Other trading activities
Investment income
740
11,282
740
11,282
1,075
4,001
Totydl
150,145
27 J42
177,487
139,420
EXPENDrruRE ON
Charitable activitie$
Donations to the Festiniog Railway Company
Accommodation
Printing, stationery, postage etc
Governance and support
18,109
4,674
26,885
3,772
87,271
105,380
4,674
26,885
3,772
116.566
3,781
25,545
9,617
Total
53,440
87271
140,711
155,509
NET INCOMEI(EXPENDITURE)
Transfers between funds
96,705
(60,673)
(59,929}
60,673
36,776
(16,089)
13
Net movement in funds
36,032
744
36,776
{16,089)
RECONCILIATION OF FUNDS
Total funds brought forward
429,009
33,511
462,520
478,609
TOTAL FUNDS CARIUED FORWARD
465,041
34,255
499,296
462,520
The notes forn) part of these fllmncial statements
Page 8

CYMDEITHAS RHEILFFORDD ERYRI
ALSO KNOWN AS
WELSH HIGHLAND RAILWAY SOCIETY
BALANCE SHEET
31 DECEMBER 2024
2024
Total
funds
2023
Total
nds
Unrestricted
funds
Restricted
fijnds
Notes
FIXED ASSETS
Tangible assets
Investments
230,700
230,700
230,700
230,701
230,701
230,701
CURRENT ASSETS
Debtors
Cash at bank
12,844
298,275
2,030
38,602
14074
336,877
31,766
295,821
311,119
40,632
351,751
327,587
CREDITORS
ATnounts falling due within one year
io
(50,501)
(6,377)
{56J78)
(40,162)
NET CURRENT ASSETS
260,618
34255
294,873
287,425
TOTAL ASSETS LESS CURRENT
LIABILITIES
491J19
34,255
525,574
518,126
CREDJTORS
Amounts falling due after more than one year
(26,278)
(26,278)
(55,606)
IYET ASSETS
465,041
34255
499,296
462,520
FUNDS
Unrestricted fimds
Restricted funds
13
465,041
34,255
429,009
33,511
TOTAL FUNDS
499,296
462,520
The ¢haritsble company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year
ended 31 Dec¢mber 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended
31 December 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees ￿knOwledge their responsibilities for
(a)
ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the
Companies Act 2006 and
preparing financial statements which give a true and fair view of the stste of affairs of th¢ charitable company as
at the end of each financial y¢ar and of its surplus or deficit for each financial year in accordance with the
requircments of Sections 394 and 395 and which othe￿iSe comply with the requir¢mcnts of the Companies Act
2006 relating to fllmncial statements, so far as applicable to thc charitable company.
(b)
The notes forn] part of these financial stafrments
Page 9
ontinued...

CYMDEITHAS RHEILFFORDD ERYRI
ALSO KNOWN AS
WELSH HICHLAND RAILWAY SOCIETY
BALANCE SHEET- ¢ontinued
31 DECEMBER 2024
These financial statements have been prepared in accordance with the provisions applicable to charitable companies
subject to the small companies regime.
ial statements were appmved by the Board of Trustees and auth()ris¢d for issue
. and were signed on its behalf by:
on
R D Bentley - Trustee
l R King- Trustee
The notes forni part of thes¢ financial statements
Page 10

CYMDEITHAS RHEILFFORDD ERYRI
ALSO KNOWN AS
WELSH HIGHLAND IL41LWAY SOCIETY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
ACCOUNTII¥G POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been
prepared in accordance with the Charities SORTr (FRS 102) 'Accounting and Reporttng by Charities: Statement
of Rec0Mn￿Trded Practi¢¢ applicable to charities preparing their accounts in accordance with the Financial
Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),,
Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of
Ireland, and the Companies Act 2006. The fmancial statements have been prepared under th¢ historical cost
convention, with the exception of investments which are included at market value.
Income
All income is recognised in the Statement of Financtal Activities once the charity has entitlement to the fimds, "it
is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the
charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and
the amount ofthe obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has
been classified under headings that aggregate all cost related to the category. Where costs cannot be direcdy
attributed to particular headings they have been allocated to activities on a b&sis consistenl with the use of
resources.
Tangible fixed assets
Fixed assets are capitalised if they cost more than £1,000 and are deemed to have a useful life of more than five
years. Once capitalised, qualifying assets are disclosed in line with the following policies, which the trustees have
deemed appropriate in order for the financial statements to reflect a 'lTue and fair view,.
Freehold
ro
Station View, was acquired in 2017 for the purpose of providing low cost accommodation to railway volunteers,
with this being one of the Society's primary objeclives. The requirements are that a tangible fixed asset, less its
residual value, must be depreciated on a sYSten￿tic basis over its useful econon)ic life, however the tNstees arc
of the view that the property has a high residual value, which will remove the need for depreciation to be
charged. tnstead. an annual impairment review will be undertaken and a full revaluation will be carried out on a
rolling 5 year basis, with the next revaluation being due to be reported in the 31 December 2026 f￿￿￿181
statements.
The annual impairnient review, coupled with a rolling 5 year revaluation policy is deemed to be sufficienl to
ensure that the departure from the Charities SORP (FRS 102), FRS 102 (effective l January 2019) and
Companies Act 2006 requirements are not material in nature.
The historical railwav assels
Those recognised at a cost are comprised of a signal box sign, a model locomotive and the Nantlle map.
Although th¢se n)ight be considered as historically important to the railway, they are not CUkTently Considered to
be heritage assets. No depreciation is provided with regards these assets, as its affect upon the fillancial
statements is again deenrd to be immaterial.
These departures from accounting standards, believed by the t￿SteeS to k necessary for a'true and fair view to
be reported, are not deemed to be material with regard their affect upon the fInancial statements.
Taxation
The charity is exempt from COTporation tax on its charitable activities.
Pagell
continued..

CYTrIDEIThAS RHEILFFORDD ERYIU
ALSO KNOWN AS
WELSH HIGHLAND IL41LWAY SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - eontinued
FOR THE YEAR ENDED 31 DECEMBER 2024
ACCOUNTING POLICIES - continued
Fund accounting
Unrestricted funds Can be used in accordance with the charitable objectives at the discretion of the tsvstees.
Restricted fimds can only be used for particular restricted purposes within the objects of th¢ charity. Restrictions
aTise when specified by the donor OT when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fimd is included in ihe notes to the financial stalements.
OTHER TRADING ACTIvrriES
2024
2023
Sales
Advertising r¢v¢nu¢
192
548
112
963
740
1,075
INVESTMENT INCOME
2024
2023
Interest
11,282
4,001
NET INCOMEI(EXPENDITURE)
Net incomel(expenditure) is stated after chargIn￿(Crediting).
2024
2023
Auditors, remuneration
Other non-audit services
2,936
1,260
2,435
TRUSTEESI REMUNERATION AND BENEFITS
There were no trnstees, remuneration or other benefits for the year ended 31 Decetnber 2024 nor for the year
ended 3 l December 2023.
Trnstees, expenses
There were no trustees, expenses paid for the year ended 31 December 2024 nor for the year ended
31 December 2023.
Page 12
continued...

CYMDEITHAS RHEILFFORDD ERYRI
ALSO KNOWN AS
WELSH HIGHLAND RAILWAY SOCIETY
NOTES TO THE FINANCIAL STATEMEIYIS - contlDued
FOR THE YEAR ENDED 31 DECEMBER 2024
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
Restricted
fimds
Total
funds
INCOME FROM
Donations and legacies
24,794
3,395
28,189
Charltable aetivities
Accommodation
Subscriptions and Appeals
3,336
86,858
3,336
102,819
15,961
Other trading activities
Investment income
1.075
4,001
1,075
4,001
Total
120,064
19,356
139,420
EXPENDITURE ON
Charitable activities
Donations to the Festiniog Railway Company
Accommodation
Printing, stationery, postage etc
Governance and support
7,185
3,781
25,545
8,130
109,381
116,566
3,781
25,545
9,617
1,487
Total
44,641
110,868
155,509
NET INCOMEIffjXPENDITURE)
Transfers between funds
75,423
(89,644)
(91,512)
89,644
(16,089)
Net movement in funds
(14,221)
(1,868)
(16,089)
RECONCILIATION OF FUNDS
Total funds brought forward
443,230
35,379
478,609
TOTAL FUNDS CARRIED FORWARD
429,009
33,511
462,520
TANGIBLE FIXED ASSETS
Dinas
signal
box sign
Freehold
propety
Model
Locomotive
Nantlle
Totals
COST
At l January 2024 alld
31 December 2024
230,000
375
loo
225
230,700
NET BOOK VALUE
At 31 De¢¢mber 2024
230,000
375
loo
225
230,700
At 31 Decen]ber 2023
230,000
375
loo
225
230,700
Pag¢ 13
continued...

CYMDEITHAS RHEILFFORDD ERYRI
ALSO KNOWN AS
WELSH HIGHLAND RAILWAY SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024
FIXED ASSET INVESTMENTS
Unlisted
investments
MARKET VALUE
At l January 2024 and 31 December 2024
NET BOOK VALUE
At 31 December 2024
At 31 December 2023
There were no investment assets outside thc UL
DEB TORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Trade debtors
Gift aid claims
Bequests
Company Loans
8,352
6,521
8.489
5,842
17,434
14,874
31,766
10.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Bank loans and overdrafts (see nots 12)
Trade creditors
ACCn￿ and defe￿ed income
19.612
9.622
10,928
25.224
31,654
56,878
40,162
Page 14
continued...

CYMDErrHAS RHEILFFORDD ERYRI
AISO KNOWN AS
WELSH HIGHLAND RAILWAY SOCIETY
IYOTES TO THE FINANCIAL STATEMENfs - continued
FOR THE YEAR ENDED 31 DECEMBER 2024
11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024
2023
Accnwls and deferred income
26,278
55,606
12.
LOANS
An analysis of the maturity of loans is given below..
2024
2023
Amounts falling due within one year on denwnd:
Bank oveTdrafts
19,612
13.
MOVEMENT IN FUNDS
Net
tnovement
in funds
Transfers
between
funds
At
31.12.24
At 1.1.24
Unrestricted funds
General fimd
Historical railway assets fi]nd
Station View propety fund
Smaller project allocation fimd
Third class saloon appeal fund
Dinas facllities contingency fimd
Boston Lodge Road 8 appeal fund
6,902
700
246,910
13,820
150,025
652
10,000
83,070
(84,281)
5,691
700
247,479
12,593
157,403
569
(8,512)
(9,597)
7,285
16,975
(652)
31,175
41,175
429,01)9
96,705
(60,673)
465,041
Restricted funds
NG15 project
Kl project
(60,049)
120
60,673
624
33,631
33,511
33,511
(59.929)
60,673
34,255
TOTAL FUNDS
462,520
36,776
499,296
Page 15
continued...

CYMDEITHAS RHEILFFORDD ERYRI
ALSO KNOWN AS
WELSH HIGHLAND RAILWAY SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024
13.
MOVEMENT IN FUNDS - eontfinued
Net movement in funds, included in the above are as follows:
Incoming
resources
Resources
expended
Movement
in funds
Unrestricted funds
G¢n¢ral fund
Station View propety fund
Smaller project allocation fimd
Third class saloon appeal fund
Boston Lodge Road 8 appeal fund
113,727
5,243
(30,657)
(4,674)
(8,512)
(9,597)
83,070
569
(8,512)
(9,597)
31.175
31,175
150,145
(53,440)
96.705
Restri¢t¢d funds
NGI 5 project
Kl project
27,222
120
(87,271)
(60,049)
120
27J42
(87,271)
(59,929)
TOTAL FUNDS
177,487
(140,711)
36,776
ConJparative5 for movement in funds
Net
movement
in funds
Transfers
between
funds
At
31.12.23
At 1.1.23
Unrestricted funds
General fund
Historical railway assets fund
Station View property fulld
Snvaller project allocation fund
NG15 appeal
Third class saloon appeal fimd
Dinas facilities contingency fimd
Coronavirus appeal fund
Boston Lodge Road 8 appeal fund
10,598
700
244,578
25,236
86
150.025
11,652
355
68.790
(72,486)
6,902
700
246,910
13,820
(444)
(6.831)
14,263
2,776
(4,585)
(14,349)
150,025
652
(I 1,000)
(355)
10,000
i 0,000
443.230
75.423
(89,644)
429,009
Restricted funds
NGI 5 project
Kl project
2,061
33,318
(91,705)
193
89,644
33,511
35,379
(91,512}
89,644
33,511
TOTAL FUNDS
478,609
(16,089)
462,520
Page 16
Continued...

CYMDErrHAS RHEILFFORDD ERYRI
ALSO KNOWN AS
WELSH HIGHLAND RAILWAY SOCIETY
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 DECEMBER 2024
13.
MOVEMENT IN FUNDS - colllinued
Con]parative net movement in funds. included in the above are as follows:
Incoming
resources
Resources
expended
Movement
in funds
Unrestricted funds
General fund
Station View property fimd
Smaller PToject allocation fund
NG15 appeal
Coronavirus appeal fifftd
102.465
3,336
(33,675)
(3.780)
(6,831)
68,790
(444)
(6,831)
14,263
(355)
14.263
(355)
120,064
(44.641)
75,423
Restricted funds
NG15 project
Kl project
19.163
193
(110,868)
(91,705)
193
19.356
(110,868)
(91,512)
TOTAL FUM)S
139,420
(155,509)
{16,089)
A current year 12 months and prior year 12 montbs combined position is as lollows..
Net
movement
in funds
Transfers
between
fimds
Ai
31.12.24
At 1.1.23
Unrestricted funds
General fund
Historical railway assets fund
Ststion View propety fund
Smaller project allocation fund
NGI 5 appeal
Tbird class saloon appeal fi￿a
Dinas facilities contÈngency fund
Coronavirus appeal fund
Boston LA)dge Road 8 appeal fund
10,598
700
244,578
25,236
86
150,025
11,652
355
151.860
(156,767)
5,691
700
247.479
12,593
125
(15,343)
14.263
(9,597)
2,776
2,700
(14,349)
16,975
(11,652)
157,403
(355)
31.175
10.000
41.175
443,230
172,128
(150,317)
465,041
Restricted funds
NG15 project
Kl project
2,061
33,318
(151,754)
313
150,317
624
33,631
35,379
{l51,441)
150,317
34,255
TOTAL FUNDS
478,609
20,687
499.296
Page 17
continu¢d...

CYMDEITHAS RHEILFFORDD ERYRI
ALSO KNOMqN AS
WELSH HIGHLAND RAILWAY SOCIETY
OTES TO THE FINANCIAL STATEMENTS - eonlinued
FOR THE YEAR ENDED 31 DECEMBER 2024
13.
MOVEMENT IN FUNDS - continued
A current year 12 montbs and prior year 12 months combined net movement in funds, included in the above are
as follows:
Incoming
resources
Resources
expended
Movement
in fijnds
Unrestricted fund5
General fund
Station View propety fund
Smaller project allocation fund
NG15 appeal
Third class saloon appeal ￿nd
Coronavirus appeal fund
Boston Lodge Road 8 appeal fi]nd
216,192
8,579
(64,332)
(8,454)
(15,343)
151,860
125
(15,343)
14,263
(9,597)
(355)
31.175
14,263
(9,597)
(355)
31,175
270,209
(98,081)
172.128
Restricted fund5
NG15 project
Kl project
46.385
313
(198,139)
(151,754)
313
46,698
(198,139)
(151,441)
TOTAL FUNDS
316,907
(296,220)
20,687
14.
RELATED PARTY DISCLOSURES
There were no related paty transactions for the year ended 31 December 2024.
15.
EVENTS SINCE THE EIYD OF THE YEAR
tnforntstion relating to any events since the end of th¢ year is given in the notes to the financial statements.
Page 18

CYMDEITHAS RHEILFFORDD ERYIU
ALSO KNOWN AS
WELSH HIGHLAND RAILWAY SOCIETY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
2023
INCOME
Donations and legacies
Donalions and legacies
Gift aid
9,140
24,868
7,338
20,851
34,1)08
28,189
Other trading activities
Sales
Advertising ￿VenUe
192
548
112
963
740
1,075
Investment income
Interest
11,282
4,001
Charitable activities
Annual subscriptions
Life membership
Diamond appeal
Ststion view income
NGI 5 income
Kl income
NG15 appeal
Boston Lodge Road 8 appeal
69,580
6,990
2,150
5,242
22,083
96
65.506
7,460
2,236
3.336
15,807
154
11,656
25016
131,457
106,155
Total in¢omlllg resouree$
177,487
139,420
EXPENDITURE
Charitable activities
Postage and stationery
Sundries
26.885
426
87271
9597
8,512
455
978
269
1,654
1,148
137,195
25.545
3,474
109,380
NG15
Third class saloon
Other projects
Insurance
Heat & light
Rates & water
Cleaning & clearance
Repairs & renewals
Carried fonvard
7,186
477
912
293
1.462
478
149.207
This pag¢ does not forn] part of the statutory financial statements
Page 19

CYMDEITHAS RHEILFFORDD ERYIU
ALSO KNOWN AS
WELSH HIGHLAND R￿LwAy SOCIETY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
2023
Charitable activities
Brought forward
Licences
137,195
170
149,207
159
137J65
149,366
Support costs
Management
AGM expenses
475
1,520
Finance
Bank charges
Discounts
436
427
436
427
Governanee eosts
Auditors, remuneration
Auditors, remuneration for non audit work
2,936
1,260
2,435
2,435
4,196
Total resources expended
140,711
155,509
Net in¢omel(expenditure)
36,776
(16,089)
This pag¢ does not fojrn part of the statutory financial statements
Page 20