SOLrrHERN ELECTRIC GROUP CIO TRUSTEES REPORT AND CONSOUDATED FINANCIAL STATEMENTS FOR THE YE4R ENDED 31 OCTOBER 2025 Ch*ity 1102973 Scthm Eledric Gmup CIO Rewt ofthe trustees ststement of finanaal acbvibes Balance sheet 9-12 Southem Ewic GroLSP CIO ReFth ofts Trustees fythe year ended 31 O&obw 2025 Reference and administrative information Name ofthe ¢h¥ity. Scthm Electric Grc¥Jp CIO Chartty regi%tsatton number. 1102973 30 Bealing Close Southampton S016 3AX Charity's trustees for the financTra w to 31 Octckner2025 were: Mr G Beec¥oft Apwnted 27 August 2025 Mr J Gcodrith Appointed 20 Odober2025 Mr S Hicks Mr B Rayner Appinted 27 August 202$ MrA SaundeTS Mr P Staveley Apw*nted 27 ￿t 2025 MrJ Piper Mr P Watson Mr I Vlhiuam Bankers Lloyd8 Bank PIC, 137 Norlh EThJ. Cfoydon. &Hrey. CRO 1TN Southem Eledric Group CIO its governed ty ib Consbttkn dated 291h J￿Y 2025. tt is registered as a charity with the Clwrity ComMiss￿n￿5. Charity law requÉres the Trustees to prepare Statem￿ for each financial year whth give a true and fair wew of the charity the surplus or defi¢it of charity for that per￿d. In preparing those finanoal statements. the twstees have Selected surtable ac¢ountiru pdtaes and them consistenty. Made judgen*nts and estimates that are reasonabte and prudent,. staled whether applICab￿ accounting standarution of volunteevs duri￿ the year The work of the Charity is n¢)mWly undertaken at weekeThJs by vc4unteers. except where $peoalist skills are required whith are beyorKI the expertsse ca[￿lI￿eS of Ihe volunteerworkforce. Around 3 volunteers are ￿UlarlY eNJ8ged in the restorakn and repair ofthe ChaWs collection of rolling stock at varKJus times. acwiiing and developing nthv sknlls in the w(*s. Two olher volunteers are regularty w)gaged ￿ the adminislralion ofthe charity. Tho main aclimngnts and ofthe charity during th9 year Work ￿ntinUed on maIntenar￿ of the coaches located at Shepherdswell in ck)se liaison with the East Kent RaI￿aY. Herrtage Rat￿aY AsscKialion guidance, and ORR requi￿rnents. Competenci8$ required by the EKR to WO￿ nearthe running line aThJ other a(Jivihes were maintained. The trustees were very ￿eaSed that there were op￿￿nitIeS to cary The Charitys other vehides. coaches 10096. 11201. and 11825 remain in st￿e art Sdlirhyge until resour￿ a￿ available to work on them and are inspert&J regukrty. Fund rdising activit￿ during the year The Charity ￿nL￿paI￿ relies on dcws. wtrThe support is valued. The charity's sales stand attended 35 events during the peiiod. The Grrxjp's le8net was distributed at events whith invrtes donalions towards ￿toratiOn and prOn￿d preservaticm ac*vibes. The Charity also has an online shop whKh helps to iyomote its A suttessfvl furKFraising aFveal wa$ la￿ched to rwphowthe seats in the cthariiV$ o)ac*es. bgneficiaries of th• charity and to wider socièty Much of the work of the Charity is on a term basis. As such the fijll public benefit derived from the operation of the coaches may not te avaikble for many years to ())me until the restoration work has been cxjmpleted. During the peric*J. f￿ther progress was made on the restc￿tIon of S11161S and S11187S. Restorati￿ and imwDveM￿ ￿nS conlinue to pr{*)￿ SI￿. The Charl￿8 organisational structhrn Since 2020 the Trustees have held regLElar meeling$ usiThJ an thine platlorm has been f(vJnd to be of great benefft in savings of t4)th tFme and expertse by not having to travel. The meeting$ ensuo that all Trustees are aware of current events and wues. have the opwlrtunty to their opinion, decide on a C￿rse of action (rf ￿e￿sary by vote) and fijlfil their obligations to safe9uard the Charitys Ènterests. TV￿ of the Trustees a￿ additionalty Trustees of the ¢oach on long lem7 loan and ofthose tsyo. one designated as the PreseNation Manw ty the Ch￿rty takes the lead in preservation activities. The cost ofthe necessary so)Iw¥e in ￿dertO cary n*eting$ is considered to be fvllyjustified. Financial Re74lew The Charity's fmancial i>0S￿On atthe end of the year onded 31 Octobor2025 The financial posthon of the Charity at 31 October 2025 and Comparatives forlhe priorperiod ae fully detailed in the accoutrts and ¢an be summaFis&J as fotb 2025 2024 Net Income {Defic>t) 7.633 5.455 1.425 Unrestrtcted revenue fvnds avwlable forthe general purposes of the tharity Totsj Funds 41.97T 35.770 35,770 SoLrthem Ekctsic Group CIO Financial fyvithv ofthè position •t the reporting date, 31 O¢tober 2025 The Charity incurièd a group suwus on ordinary athibes of£8,332 during Ihe w eThthng 31 October 2025 ￿rnpared wtth a sutyus of£7.094 during the previous year. The group's liquid reserves * 31 octob￿ 2025 wwe £47.352 {2024.' £39.1501. The Trustees are satisfied with the results for the year. Donations made to the Charity its subs* uympany dwiro tr* year ended 31 Ortober 2025 totalled £12253 (2024.. £10262). Irwestment income received on the Charitys bank deposrts decreased during the yearfolkming Apart from d￿atiOnS aThl inveslment IrK0￿￿. fvnding the ongotr¥J reSt￿li0n and mwntenar)ce of the Charitys cotle¢tion of rolling stc¢k is also obtaned from proffts ger￿ated frDm the sale of books, rdihvay memoral)ilia and artefacts and the OFwation ofthe Charitys onlinè shop. CombÉned income from these SI￿r¢e$ thJriTrJ the YearaM￿Thted to £3.198 (2024: £3.730). The Charity also has an online shop wtmch h*s to its acliviiw. Costs irKurred on the restoraticffi and mainlwxe ofthe Charitys st(￿k were simil* to the previous year. The overall cost of maintsining an adequate levd of Insuran￿ coverfor rdfing stock and forthe Trustee directors. liabilty increased at this yearfs renewal to £2.55612024 . £2.164.) The annual rent ctkirges at Shepherdswell a￿1 at Sellir* and storage at Worttung totalled £3.540 12024.. £3.4701.. Policy on reserves The Chanty's group r￿erVeS stoc#J at £56.2118t the acx#xM7try yearend {2024 ". £47.879) and are ontrolled by the Trustee Directo￿ and are used entirety forthe purp)￿ ofthe Chanty. Operating costs ofthe Charity. without any add￿Onal r￿TrTe￿rreftt eynditure being incurred. are currenly running at approximatety £9.1]00 perannum. H￿*eVerthe Charity rfftds lo mairrtain a higher level ol addÈttonal reserves due to the nature of its athltses. and the untffedi¢table nature of when and how much may be required at ￿ one time within a twdve month Fenc*l to meet a partiujlar pLanned or unexpethd ¢¢sL These accumuk*ed reserves are used lo help fvnd the eontinurNJ restoration of the Charity's collection of ele¢tri¢ multiple unit coa¢Fw. as wel as th￿r orwng mainlenance and serviung costs. These ¢an w signffi(zntyfrom year trj year. and a￿ dep￿nt on the na￿re ofthe wo required the amourrt of work r￿ded and thè availawty of mantKW to ￿rry cmjt Such woth. The Tfustees have de*eMIr￿ trtat use ofthe reserves Mll not be 0)nST￿ forthe acqu￿lts0n of further rolling $tc¢k unlit resources are availabje to IcM)k after them sattsf*ority. Furthermore. reserves are also US￿ to help fund the crying ruming costs ofthe Charity in Ihose period$ wttere annual ￿)Sts exceed net vn)ming resowces. Aydilabillty and adequacy of assets of each of the funds The Board oftntstees is &￿ISfied that the clwty's assets in e&h fund are avaRabbe and adequate lo fulfil its obl￿att￿ in ￿$r￿¢t of fvnd. Funds held as Custodian TTustse No fvnds are held as trustee. The major risks to whi¢h the Charity is exsx)sed. as hlethfied by the TTL￿. have been reviewed and system have been estsblish&d to manage those ii5ks. These Thidude safe y￿Ing prath.ces al the worksite at SITepherdswdl on the East Kent Raikntay. induding the prowsion of appropriate protective dothing aftd training on the use of wtain tool$ for those workrng there. Work carried out there is carried OLrt in a¢Mrdm with Ihe RaI￿a￿S (Avn wles regU￿tionS regarding safe working wacti￿. In addibon, Ihe Trustees taken the M￿ureS to ccfftpty with Heatth and Safety at Work Act and associated *islalion. The Trustees have also enswed that apprcyiate inS￿anceS are in pkc*. in addibon to the risk mitigab.on ouuined above. Plans for the fv￿re Ongoing maintenance, repair5 and wc** wll &)nb"nue to be ca￿led out vetmcles at The Twstees will conlinue their efforts to raise fvnds via don￿1￿$ to securethe future of the Chantys colthtion of eleo*ic Mutt￿￿e untt ¥¢hicles. and also to C4)nsoltdate ils finaniial w$￿¢)n. A¢￿Inting and Rwbng by Charrbes (issued 2005). Approved by trustees on 10 4xÈl 2026 and rjn its betrAlf ty A Saun ers SoLthem Ele(lri¢ Group CIO Consdidated Stslement of Financa21 Activrt for the Year Enthg 31 Othr 2ff25 Unrestricted Restrithd Funds FLEfKI$ 2025 2025 Group Total Funds 2025 Total 2024 Incoming and endOvm￿ts from: Donations and legaci98 Other trading aclivtttes Investment intxff Total Expenditure on Charitable acbvrtEs Other 10,303 12.523 3264 10262 3.951 13.953 2.220 16.173 14,696 795 7.841 7.602 795 7,841 7.602 Net Incor￿ I{experKliture) Transfers btheen furKIs 6.907 1.425 8.332 7.094 6.￿7 1.425 8.332 Other r8cognis¢d g•insllosses Net movement in Fund balances Ixouglrtforward at 1 November 47.879 Total fvnd$ Carri￿ fJnts when all oflhe folhxryng crrten"a are met The eharity is entiued to the fvnds: within the Control of the charity.. There is suffi¢ient certainty that the receipl of ino)me rs considered probable.. arKi the amwnt can be measwed reliolty. c) Donaled services and faciiilies Donated services orfactlilies are recognised a5 incrn* when the ernnomic benefft can be measured reliabty. On receipt, donated services arKI facilibes are recognised on the basis of the value ofthe grft to the charity whth is the amount the dwrity W￿ld have been wtlliro to pay to obtsin Servi￿ or faaltrs on the open market A corresrAwding arrKMmt is then recDJrth5ed as expendikne in ts pWI￿j of rewpL d) Interest receivable Interest on fUr￿S hdd on deposit is included when recervabFe and the amount can be measured reliabty by the charity. this is nom￿1￿ UPDn notrficatk)n of the irtsrest Pa￿ by the bank. f) Fund a￿OuntIng Un￿strIcted fvnds are available to spend on 8th11￿S thal fvrther any ofthe purposes ofthe charity. Restric¢ed funds are dOr￿li0n$ which the donor has S￿)fied are to be solety used for pth.￿lar area's ofthe thantys work or for speafic wqects. gl Expendilu a third party, it Is probab￿ that setyement WIN be req￿re￿J. and the amount of the obligation fAn be measured reliabty. h) Debtor5 Trade and otherdebtors are recDJnised at the settlement amount due after any discount l) CreditC￿$ aThJ pr￿￿$ Creditors and prowsions are recognised where the charity has a present oblig*ion resuth.ng a past event th* will wobaw restsh fft the transfw to a third part and the amount Southem Electrbc Grtyjp CIO due to setue the ¢an be measured or estimated retiabty. CredFtors and provlsions are rewgnised at their SettleTr￿ arrw)unt after ￿lOwIng for any trade dtscounts due. j) Financral instruments The charity h8$ onfy basic finafmial assets and liabilrties orfa kind that ag basic finan¢i81 instruments. Try are at transadton value. kl Per￿lon$ The tharity has never paid empbyees wilh pensitin rights. 2 Legal staths of the charity The ¢h8rty is a Charrtable OrganÈsalh)n 3 Inc¢3me from donations Group 2025 21Y24 2025 2024 Gifts 12.414 109 12.523 10.188 74 10,262 10.876 8.410 10.922 4 tnveslmont Income 5 Expenditurn on charitable a¢livi 2025 2024 Resthtion arKI administration rJAts 7.841 6 Net income (expendi￿re) for the year This is st*d after Charging: 2025 2024 Bank interest payable Tho ¢ontribuUon of volunteers All work. induding administration, is fArried OLrt by vc4unteers. Physical work at Shepherdswell can onty be undwtsken by members ofthe East Kent Rai￿aY or the Southem Electric Groyp for insurance reasons related entrty. Swthem Ekctric Group CIO Trustees, expenses The expenses reimbursed to trustees. or paKI diredy tothNd parfies, in the ¢urrert ty pricff year were as shown below. 2025 2024 The amount reimbursed to Trustees 7 Staff costs The chanty has ￿ pahl staff. The charity trustees were not paid or received any other benefits from the Charity in the year {2024 £ruO. Nertherwere they reimbursed eypenses during the year {2024 £nil}. No thanty trustees re¢eFved p*mertt for prOfess￿)n￿ or other services suppked to the charrty (2024 £n￿). 8 CoTpornf¥ort Taxation The charity is exempl from tsx and gains faI￿n9 wilhin section 505 ofthe Taxes Act 1988 or se¢bon 252 (rfthe Ta¥21ion ofchawble Gains 1992 to the exterrt that these are applied to its chaTitabfe obie(ts. 9 Rd•ted Party Transactions The charity paid £3.519 12024 £3.3681 to its sthKliary Company S.E.G. (Pr8servatiM) Ltd as reimbursement for the restoration costs of its ratway (￿ach and the (x)xh on long term lease. ft also reimbursed John PÉper wilh £30 per morth fcf the costs ol storiivJ thè sales stock and other artefrdCt5 {2024 £30 per month) io 10 Tangiblè r￿ed assets Rollirvj Land ar￿ Pknt and At 1 November2024 Adrf￿0n$ At 31 October2025 4.797 22.793 4.797 9.650 Depreoation Al 1 November 2024 Charge for year At 31 October 202S 22.793 9.650 17.996 Net Book Value At 31 Odober 2024 At 31 October 2025 17.996 4.797 4.797 4,797 4.797 Charity At 1 November 2Q4 and 31 Or**Jer2025 At 1 November 2024 and 31 October2025 Charge for the year At 31 October 2025 Net book value At 1 November 2024 *KI 31 Oc*obgr2025 4,797 4,797 The heritage assets C￿mpTi5e 4 &)aches from a 4 COR e>press eleclric multiple unit train constructed by the Southem Raibmay in 1938. One of the (x)aches is on di$￿aY to the public at the East Kenl Raihrny, Shepherd5weJl. No depreciation has been prowded on the hith¢ 11 Investments The charity holds 8 shares of £1 each in its wholty owned trading subsidiary S.E.G. (PreseNalion} Limited Wh￿ ts irK0rF￿ated in ENJknd and Waks. are the onty shares allotted. Called up and frJJty paid. 12 DgbtOfS The Chartty 2025 2025 2024 2024 Trade debto Olher debtors 40 2.694 2.734 3231 3231 2283 2.283 2,240 2.240 13 Creditors: amowts falllng due within or* >*ar (knup The Charrty 2025 2023 2024 2024 Amount due to subsithary company Trade creditors other Creditors 1,000 253 909 1,390 1213 14 Financial ¢0Mmiti￿nts under 0[￿tIng leases The Charity has no long commiknent under operating leases (2024: nil) 1,000