REGISTERED COMPANY NUMBER: 06609149 (England and Wales)
REGISTERED CHARITY NUMBER: 1128431
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 30 June 2025
for
WHITWELL & REEPHAM RAILWAY PRESERVATION
SOCIETY LTD
Quinneys
Chartered Certified Accountants
Saxon House
Hellesdon Park Road
Norwich
Norfolk
NR6 5DR
WHITWELL & REEPHAM RAILWAY PRESERVATION
SOCIETY LTD
Contents of the Financial Statements
FOR THE YEAR ENDED 30 JUNE 2025
|
Page |
Report of the Trustees |
1 to 3 |
Independent Examiner's Report |
4 |
Statement of Financial Activities |
5 |
Balance Sheet |
6 to 7 |
Notes to the Financial Statements |
8 to 15 |
WHITWELL & REEPHAM RAILWAY PRESERVATION SOCIETY LTD (REGISTERED NUMBER: 06609149)
Report of the Trustees FOR THE YEAR ENDED 30 JUNE 2025
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheir report
with the financialstatementsof the charityfor the year ended 30 June 2025. The trustees have adoptedthe provisions
of AccountingandReportingby Charities:Statementof RecommendedPracticeapplicableto charitiespreparing their
accountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS 102)
(effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Public benefit
The charitable company's objectives and activities are:-
ThepreservationandconservationforthebenefitofthepublicofthehistoricWhitwellStation,Norfolkand its
surroundings, its structures, associated rolling stock and history.
ToadvancetheeducationofthepublicinthehistoryanddevelopmentofWhitwellStation,Norfolkand its
surroundings.
Thetrusteesconfirmthattheyhavecompliedwiththerequirementsofsection17oftheCharitiesAct2011to have
due regard to the public benefit guidance published by the Charity Commission for England and Wales.
FINANCIAL REVIEW
Financial highlights
The financialstatementsare set out on pages 5 to 15. Total income for the year amountedto £56,774(2024: £49,465)
andtotalexpenditureamountedto£50,480(2024:£62,923).Netmovementinfundstotalled£6,294(2024 :
£(13,458)).
During the year the charitable company welcomed approximately 120,000 visitors to its site (2024: 102,000).
Reserves policy
The trustees have decided to hold sufficient unrestrictedreserves to meet two years of charitableexpenditure.This will
beheldtoensuresitedevelopmentcanbecompleted.Additionally,inviewofthecurrenteconomicsituation and
pressureonhouseholdincomes,whichmayhavea detrimentalimpactonfutureincome,thiswillprovidea buffer to
allow timely decision-making regarding strategy.
The unrestrictedfundbalanceat the year end was £94,725(2024:£96,316)and includedwithinthis are cashfunds of
£10,486 (2024: £9,688).
Therestrictedfundbalanceattheyearendwas£15,857(2024:£7,972),representingdonationsraisedtowards the
renovation/maintenance of specific items of rolling stock and site maintenance.
Going concern
In common with many charities,fundraisingis an issue to be confronted.However, this year's activityshows that there
is continuinggoodwilltowardstheprojectbymanypeoplein botha financialandpracticalway.Trusteesare hopeful
that this will continue.
Lookingfurtherahead,ownershipofthesiteposesachallenge.Thesiteisownedbyapensionfundofwhichone of
the trustees, Mr M F Urry, is a beneficiary.When the charitablecompany was establishedthe intentionwas that a long
leasewouldbeestablished,providingsomesecurityoftenureuntilthesocietywasinapositiontopurchasethe site
outright The Trustees are currently negotiating a new lease ro replace the previous lease which expired in 2025.
Page 1
WHITWELL & REEPHAM RAILWAY PRESERVATION
SOCIETY LTD (REGISTERED NUMBER: 06609149)
Report of the Trustees FOR THE YEAR ENDED 30 JUNE 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Whitwell & Reepham Railway PreservationSociety Ltd is a charitablecompany limited by guarantee,incorporatedon 3
June2008andregisteredasacharityon2March2009.ThecompanywasestablishedunderaMemorandum of
AssociationwhichestablishedtheobjectsandpowersofthecharitablecompanyandisgovernedbyitsArticles of
Association.Intheeventofthecompanybeingwouldup,membersarerequiredtocontributeanamount not
exceeding £1.
At 30 June 2025 there were six such members.
Recruitment and appointment of new trustees
ThetotalnumberofBoardMembersshallnotbelessthanone.Thereisnomaximum.Thecharitymayfromtime to
time increaseor decreasethe numberof BoardMembersby appointmentat a generalmeetingheld by the members.
The Trustees will from time to time appointpeople with specific skills to fulfill specific projects.Those people would be
entitled to attend management meetings.
Related parties
Details of related parties is given in Note 18 of the financial statements.
Risk management
HM Inspector of Railways and Broadland District Council
Thetrusteeshaveduringtheyearreviewedthemajorriskstowhichthecharityisexposedandhave established
systemstomitigatethoserisks.AllrecommendationsfromHMInspectorofRailwaysandBroadlandDistrict Council
have been implemented or plans are in place to ensure full compliance.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
06609149 (England and Wales)
Registered Charity number
1128431
Registered office
Saxon House
Hellesdon Park Road
Drayton High Road
Norwich
Norfolk
NR6 5DR
Trustees
M F Urry Director
Mrs D E Urry Director
R J Bailey Director
R Ewles Director
L J Turner
P J Stead
Company Secretary
M F Urry
Page 2
WHITWELL & REEPHAM RAILWAY PRESERVATION SOCIETY LTD (REGISTERED NUMBER: 06609149)
Report of the Trustees FOR THE YEAR ENDED 30 JUNE 2025
REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner
Quinneys
Chartered Certified Accountants
Saxon House
Hellesdon Park Road
Norwich
Norfolk
NR6 5DR
Approved by order of the board of trustees on 31 March 2026 and signed on its behalf by:
M F Urry - Trustee
Page 3
Independent Examiner's Report to the Trustees of Whitwell & Reepham Railway Preservation Society Ltd
Independent examiner's report to the trustees of Whitwell & Reepham Railway Preservation Society Ltd ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2025.
Responsibilities and basis of report
As the charity'strusteesof the Company(andalsoits directorsfor the purposesof companylaw)youare responsible
for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accountsof the Company are not required to be audited under Part 16 of the 2006 Act
andareeligibleforindependentexamination,Ireportinrespectofmyexaminationofyourcharity'saccounts as
carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examinationI have followed
the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentioninconnectionwith the
examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhich attention
should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
M W M Lamb FCCA
Quinneys
Chartered Certified Accountants
Saxon House
Hellesdon Park Road
Norwich
Norfolk
NR6 5DR
31 March 2026
Page 4
WHITWELL & REEPHAM RAILWAY PRESERVATION SOCIETY LTD
Statement of Financial Activities FOR THE YEAR ENDED 30 JUNE 2025
Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
21,910
Other trading activities
3
22,394
Investment income
4
-
Total
44,304
EXPENDITURE ON
Charitable activities
Charitable activites
45,895
NET INCOME/(EXPENDITURE)
(1,591)
RECONCILIATION OF FUNDS
Total funds brought forward
96,316
TOTAL FUNDS CARRIED FORWARD
94,725 |
Restricted
fund
£
11,916
-
554
12,470
4,585
7,885
7,972
15,857 |
2025
Total
funds
£
33,826
22,394
554
56,774
50,480
6,294
104,288
110,582 |
2024
Total
funds
£
30,040
19,158
267
49,465
62,923
(13,458)
117,746
104,288 |
|
|
|
|
The notes form part of these financial statements
Page 5
WHITWELL & REEPHAM RAILWAY PRESERVATION SOCIETY LTD (REGISTERED NUMBER: 06609149)
Balance Sheet 30 JUNE 2025
Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
9
182,138
Investments
10
1
182,139
CURRENT ASSETS
Stocks
11
2,000
Debtors
12
7,792
Cash at bank
10,486
20,278
CREDITORS
Amounts falling due within one year
13
(97,541)
NET CURRENT ASSETS
(77,263)
TOTAL ASSETS LESS CURRENT LIABILITIES
104,876
CREDITORS
Amounts falling due after more than one year
14
(10,151)
NET ASSETS
94,725
FUNDS
17
Unrestricted funds
Restricted funds
TOTAL FUNDS |
Restricted
fund
£
-
-
-
-
-
15,857
15,857
-
15,857
15,857
-
15,857 |
2025
Total
funds
£
182,138
1
182,139
2,000
7,792
26,343
36,135
(97,541)
(61,406)
120,733
(10,151)
110,582
94,725
15,857
110,582 |
2024
Total
funds
£
190,814
1
190,815
2,000
5,614
17,660
25,274
(99,110)
(73,836)
116,979
(12,691)
104,288
96,316
7,972
104,288 |
|
|
|
|
The charitablecompanyis entitledto exemptionfrom audit under Section 477 of the CompaniesAct 2006 for the year
ended 30 June 2025.
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended
30 June 2025 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge 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
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 6
WHITWELL & REEPHAM RAILWAY PRESERVATION SOCIETY LTD (REGISTERED NUMBER: 06609149)
Balance Sheet - continued 30 JUNE 2025
Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitable companies
subject to the small companies regime.
The financialstatementswere approved by the Board of Trustees and authorisedfor issue on 31 March 2026 and were
signed on its behalf by:
M F Urry - Trustee
The notes form part of these financial statements
Page 7
WHITWELL & REEPHAM RAILWAY PRESERVATION
SOCIETY LTD
Notes to the Financial Statements FOR THE YEAR ENDED 30 JUNE 2025
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financialstatementsof the charitablecompany,whichis a publicbenefitentityunderFRS 102,have been
prepared in accordancewith the Charities SORP (FRS 102) 'Accountingand Reportingby Charities:Statement of
RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial
ReportingStandardapplicablein the UK and Republicof Ireland(FRS 102) (effective1 January2019)', Financial
ReportingStandard102 'The FinancialReportingStandardapplicablein the UK and Republicof Ireland'and the
CompaniesAct2006.Thefinancialstatementshavebeenpreparedunderthehistoricalcostconvention, with
the exception of investments which are included at market value.
Income
All income is recognised in the Statementof FinancialActivitiesonce the charityhas entitlementto the funds, it
is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredin settlement
andtheamountoftheobligationcanbemeasuredreliably.Expenditureisaccountedforonanaccruals basis
andhasbeenclassifiedunderheadingsthataggregateallcostrelatedto thecategory.Wherecostscannot be
directlyattributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwith the
use of resources.
Depreciation and amortisation
Depreciationis providedat the followingannualratesin order to write off each assetover its estimated useful
life.
-
Freehold property over 10 years
-
Plant, machinery and equipment over 10 years
-
Computer equipment over 3 years
Rolling stock is not depreciatedas it is maintainedso that the trustees believe that the value will at least equate
to originalcost/value.Memorabiliacollectionsare notdepreciatedas theirvaluewill be at leastequalto their
original valuation.
Stocks
Stocksarevaluedatthelowerofcostandnetrealisablevalue,aftermakingdueallowanceforobsolete and
slow moving items.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
Page 8
WHITWELL & REEPHAM RAILWAY PRESERVATION SOCIETY LTD
Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 JUNE 2025
2. DONATIONS AND LEGACIES
Donations
Gift aid
Grants
Subscriptions
Grants received, included in the above, are as follows:
Other grants
3.
OTHER TRADING ACTIVITIES
Fundraising events
Glass recycling
Sale of scrap metal and other surplus assets
4.
INVESTMENT INCOME
Deposit account interest
5.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets |
2025
£
18,161
2,036
9,319
4,310
33,826
2025
£
9,319
2025
£
10,084
203
12,107
22,394
2025
£
554
2025
£
9,509 |
2024
£
16,412
1,718
7,245
4,665 |
|
|
30,040 |
|
|
2024
£
7,245
2024
£
12,815
138
6,205 |
|
|
19,158 |
|
|
2024
£
267
2024
£
10,746 |
continued...
Page 9
WHITWELL & REEPHAM RAILWAY PRESERVATION SOCIETY LTD
Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 JUNE 2025
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remunerationor other benefits for the year ended 30 June 2025 nor for the year ended
30 June 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 June 2025 nor for the year ended 30 June 2024.
7. STAFF COSTS
The average monthly number of employees during the year was as follows:
8.
Trustees/Directors
No employees received emoluments in excess of £60,000.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
26,904
Other trading activities
19,158
Investment income
-
Total
46,062
EXPENDITURE ON
Charitable activities
Charitable activites
59,743
NET INCOME/(EXPENDITURE)
(13,681)
RECONCILIATION OF FUNDS
Total funds brought forward
109,997
TOTAL FUNDS CARRIED FORWARD
96,316 |
2025
6
Restricted
fund
£
3,136
-
267
3,403
3,180
223
7,749
7,972 |
2024
6
Total
funds
£
30,040
19,158
267
49,465
62,923
(13,458)
117,746
104,288 |
|
|
|
continued...
Page 10
WHITWELL & REEPHAM RAILWAY PRESERVATION SOCIETY LTD
Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 JUNE 2025
9. TANGIBLE FIXED ASSETS
COST
At 1 July 2024
Additions
At 30 June 2025
DEPRECIATION
At 1 July 2024
Charge for year
At 30 June 2025
NET BOOK VALUE
At 30 June 2025
At 30 June 2024
COST
At 1 July 2024
Additions
At 30 June 2025
DEPRECIATION
At 1 July 2024
Charge for year
At 30 June 2025
NET BOOK VALUE
At 30 June 2025
At 30 June 2024 |
Fixtures
and
fittings
£
3,969
-
3,969
3,387
138
3,525
444
582 |
Other
tangible
Freehold
fixed
property
assets
£
£
105,016
242,905
-
833
105,016
243,738
79,293
80,914
5,285
3,547
84,578
84,461
20,438
159,277
25,723
161,991
Motor
vehicles
Memorabilia
£
£
5,150
1,830
-
-
5,150
1,830
5,150
-
-
-
5,150
-
-
1,830
-
1,830 |
Plant and
machinery
£
11,250
-
11,250
10,562
539
11,101
149
688
Totals
£
370,120
833
370,953
179,306
9,509
188,815
182,138
190,814 |
|
|
|
|
continued...
Page 11
WHITWELL & REEPHAM RAILWAY PRESERVATION SOCIETY LTD
Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 JUNE 2025
10. FIXED ASSET INVESTMENTS
FIXED ASSET INVESTMENTS |
|
|
Shares in |
|
group |
|
undertakings |
|
£ |
MARKET VALUE |
|
At 1 July 2024 and 30 June 2025 |
1 |
NET BOOK VALUE |
|
At 30 June 2025 |
1 |
At 30 June 2024 |
1 |
There were no investment assets outside the UK.
The investmentis in the charitablecompany'ssubsidiary,WRR LeisureLtd.At 30 June 2025the subsidiary had
netliabilitiesof£247(2024:assets£693)andintheyearended30June2025madealossof£940 (2024:
£124).
11. STOCKS
Stocks
12.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
13.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans and overdrafts (see note 15)
Other loans (see note 15)
Trade creditors
VAT
Trustees current accounts
Accruals and deferred income |
2025
£
2,000
2025
£
7,592
200
7,792
2025
£
-
9,180
11,184
15,875
56,563
4,739
97,541 |
2024
£
2,000
2024
£
3,108
2,506
5,614
2024
£
164
6,840
16,293
14,512
56,563
4,738 |
2024
£
2,000 |
|
|
|
2024
£
3,108
2,506 |
|
|
|
5,614 |
|
|
99,110 |
|
Trusteescurrentaccountsarerepresentedbyamountsduetothecharitablecompany'ssubsidiaryandto MF
Urry, a trustee. Further details are given in note 18.
continued...
Page 12
WHITWELL & REEPHAM RAILWAY PRESERVATION SOCIETY LTD
Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 JUNE 2025
14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Accruals and deferred income
15.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank overdrafts
Other loans
16.
LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
Within one year
Between one and five years
17.
MOVEMENT IN FUNDS
At 1.7.24
£
Unrestricted funds
General fund
96,316
Restricted funds
General fund
7,972
TOTAL FUNDS
104,288 |
2025
£
10,151
2025
£
-
9,180
9,180
2025
£
6,800
-
6,800
Net
movement
in funds
£
(1,591)
7,885
6,294 |
2024
£
12,691
2024
£
164
6,840
7,004
2024
£
6,800
6,800
13,600
At
30.6.25
£
94,725
15,857 |
2024
£
12,691 |
2024
£
12,691 |
|
|
|
|
2024
£
164
6,840 |
|
|
|
|
7,004 |
|
|
|
|
2024
£
6,800
6,800 |
|
|
|
13,600 |
|
|
|
110,582 |
|
|
continued...
Page 13
WHITWELL & REEPHAM RAILWAY PRESERVATION SOCIETY LTD
Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 JUNE 2025
17. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
|
Incoming |
Resources |
Movement |
|
resources |
expended |
in funds |
|
£ |
£ |
£ |
Unrestricted funds |
|
|
|
General fund |
44,304 |
(45,895) |
(1,591) |
Restricted funds |
|
|
|
General fund |
12,470 |
(4,585) |
7,885 |
TOTAL FUNDS |
56,774 |
(50,480) |
6,294 |
Comparatives for movement in funds
At 1.7.23
£
Unrestricted funds
General fund
109,997
Restricted funds
General fund
7,749
TOTAL FUNDS
117,746
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
46,062
Restricted funds
General fund
3,403
TOTAL FUNDS
49,465 |
Net
movement
At
in funds
30.6.24
£
£
(13,681)
96,316
223
7,972
(13,458)
104,288
Resources
Movement
expended
in funds
£
£
(59,743)
(13,681)
(3,180)
223
(62,923)
(13,458) |
|
|
continued...
Page 14
WHITWELL & REEPHAM RAILWAY PRESERVATION SOCIETY LTD
Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 JUNE 2025
17. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
Unrestricted funds
General fund
Restricted funds
General fund
TOTAL FUNDS |
At 1.7.23
£
109,997
7,749
117,746 |
Net
movement
in funds
£
(15,272)
8,108
(7,164) |
At
30.6.25
£
94,725
15,857 |
|
|
|
110,582 |
Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedinthe above
are as follows:
|
Incoming |
Resources |
Movement |
|
resources |
expended |
in funds |
|
£ |
£ |
£ |
Unrestricted funds |
|
|
|
General fund |
90,366 |
(105,638) |
(15,272) |
Restricted funds |
|
|
|
General fund |
15,873 |
(7,765) |
8,108 |
TOTAL FUNDS |
106,239 |
(113,403) |
(7,164) |
The restricted funds are restricted income funds.
18. RELATED PARTY DISCLOSURES
During the year the charity made the following related party transactions:
WRR Leisure Ltd
During the year the charitablecompanyreceived donationsof £Nil (2024: £3,000)from its subsidiary company,
WRR LeisureLtd. At the balancesheet date the amountdue to WRR LeisureLtd was £12,529(2024: £12,529).
Theloanisinterest-freeandtherearenoformalrepaymentterms.Howevertheintentionisthatthiswill be
repaid when funds permit.
Mr M F Urry
AtthebalancesheetdatetheamountduetoMrMFUrrywas£44,034(2024:£44,034).Theloan is
interest-freeandtherearenoformalrepaymenttermsinplace.Howevertheintentionisthatthiswill be
repaid when funds permit.
In additiona furthertwo trusteesprovidedservices to the subsidiarycompanyand were paid a total of £29800
in the year.
Page 15