www.midlandrailwaysociety.org.uk
Midland Railway Society
Registered Charity No. 1149613
Annual Report and Unaudited Financial Statements For the year ended 31 December 2025
Presented to, and adopted by, the 2026 Annual General Meeting of the Midland Railway Society held on Saturday, 18th April 2026 at the Museum of Making, Derby and via the teleconferencing service of “Teams”
D.J. Harris Secretary, Midland Railway Society www.midlandrailwaysociety.org.uk
Midland Railway Society www.midlandrailwaysociety.org.uk Registered Charity No. 1149613
Contents
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|Legal and administrative information|3|
|Trustees’ annual report|4|
|Independent examiner’s report|6|
|Receipts and payments account|7|
|Statement of assets and liabilities|8|
|Notes to the accounts|9|
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www.midlandrailwaysociety.org.uk Registered Charity No. 1149613
Midland Railway Society
Legal and administrative information For the year ended 31 December 2025
Trustees
Adrian Tester Chairman David Harris Secretary Colin Glenister Bryan Gray Graham Bocking Stephen Huson Stephen Lea Treasurer Andrew Surry Nicholas Wheat Andrew Brown Vice-chairman Martin Randle
Resigned 24 February 2025
Appointed 15 February 2025 Appointed 25 October 2025
Principal Address
3 Twyford Close Willington Derby DE65 6DL
Accountants
Seven Hills Accountants Limited 57 Burton Street Sheffield S6 2HH
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www.midlandrailwaysociety.org.uk Registered Charity No. 1149613
Midland Railway Society
Trustees’ annual report For the year ended 31 December 2025
Objectives and activities
The principal objects of the charity are:
To advance the study of, and the education of the public in all aspects of the Midland Railway, its predecessors, successors, joint lines and working arrangements in particular (but not exclusively) by the provision of publications, talks, visits, other events, displays and exhibitions for the public benefit.
The Trustees have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers or duties by undertaking the following activities during the year.
Activities during the financial year
The Society has been a partner with Derby Museums since 2004 in the operation of the Midland Railway Study Centre (MRSC), located in Derby's Silk Mill. Now part of the Museum of Making, our contributions are an important element of this prominent Derby tourist attraction. Through the MRSC the Society provides access to the combined collections of each organisation (notably including that of the late Roy F Burrows). This amounts to 75,000 items, with over 2,500 three-dimensional objects on open access to all visitors to the Museum. The volunteer-led MRSC hosts researchers of all levels – from amateur genealogists to PhD students and other professionals.
The Society attended a total of 11 model railway exhibitions throughout the year where we engaged with members of the public, particularly those of the modelling fraternity. In support of the Railway200 celebrations throughout 2025, we held Open Weekends at the MRSC during July and again in September. These events included information stands from partner organisations and presentations on railway history for the members of the public in attendance. The Society also supported Alstom PLC with their charity-focused Greatest Gathering event in August, attended by over 45,000 people. A permanent history trail authored by the Society forms part of the legacy of that event. Also as part of Railway200, we provided historical resources and advice in support of the activities of several Train Operating Companies at they too marked the celebration.
Once again 2025 was a year of constant activity in the Midland Railway Study Centre itself. It was notable that the number of physical visitors is increasing, largely among casual visitors to the Museum of Making calling in “on spec” to make enquiries. Our freely-accessible online resources for researchers who are unable to travel to Derby continue to be well used. The level of email enquiries steadily grows, now averaging around 30 to 40 per month.
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Midland Railway Society
www.midlandrailwaysociety.org.uk Registered Charity No. 1149613
We do not neglect our own Members. An entertaining and informative Presidential Address follows the AGM in April with Members’ Meetings in the Spring and Autumn, each also with a speaker, as well as a weekend visit in the Summer, which in 2025 was to the Settle and Carlisle Line.
The Society’s new website launched in January 2025 and has now celebrated its first anniversary, providing another further pathway for the public to interact with us and access our information, thereby helping us to fulfil our charitable objects.
Reserves Policy
The Society’s policy is to maintain sufficient reserves in the General Fund to cover the Society’s normal activities for a minimum of 12 months in the event of unexpected financial disruption or expense; that is, the cost of providing members’ magazines and running members’ meetings and the Society’s website. This is around £18,000 - £22,000. The Trustees consider the General Fund (unrestricted fund) balance of £28,346 at 31 December 2025 is adequate to meet these aims.
The Society also aims to maintain sufficient reserves in the Collections Fund to fulfil The Society’s obligations to Derby Museums in respect of the Study Centre at least for the duration of the current agreement, i.e. until 2043 (£21,600), to develop the collection in accordance with the Collection Development Policy, as well as conserve the existing items. The Trustees consider the Collections Fund balance of £119,826 at 31 December 2025 is adequate to meet these aims.
Structure, governance and management
The Constitution of the Society that had been adopted in 2015 was substantially revised during 2024 in order to follow more closely the GD3 Model Constitution for a Charitable Association, while still retaining the governance structure that has been proven to suit the Society’s needs. This new Constitution was adopted by vote at the Annual General Meeting held on Saturday, 20 April 2024. A copy was sent to, and duly accepted by, the Charity Commission.
Trustees are elected annually at the Annual General Meeting. The management of the Society is entrusted to an Executive Committee consisting of the Trustees and such other officers of the Society as required.
Approved by the board of trustees on 24[th] March 2026.
Signed on their behalf by
D.J. Harris Secretary, Midland Railway Society
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Midland Railway Society
www.midlandrailwaysociety.org.uk
Registered Charity No. 1149613
Independent Examiner's Report to the trustees of The Midland Railway Society ("the Charity")
I report to the trustees on my examination of the accounts of the Charity for the year ended 31 December 2025.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to belleve that in any material respect:
- accounting records were not kept as required by section 130 of the Act; or 2. the accounts do not accord with those records.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
26 March 2026
Sarah Lightfoot, FCA DChA Seven Hills Accountants Limited
57 Burton Street Sheffield S6 2HH
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Midland Railway Society www.midlandrailwaysociety.org.uk Registered Charity No. 1149613
Receipts and payments account For the year ended 31 December 2025
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Midland Railway Society www.midlandrailwaysociety.org.uk Registered Charity No. 1149613
Statement of assets and liabilities
As at 31 December 2025
Approved by the board of trustees on 24[th] March 2026. Signed on their behalf by:
Stephen Lea Trustee
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www.midlandrailwaysociety.org.uk Registered Charity No. 1149613
Midland Railway Society
Notes to the accounts
For the year ended 31 December 2025
1 Notes on the preparation of the accounts
Receipts and payments accounts are statements that summarise the movement of cash into and out of the charity during the financial year.
In this context "cash" includes cash equivalents, for example, bank accounts where cash can be readily withdrawn to pay for debts as they become due.
Unrestricted funds comprise of general funds and designated funds. General funds are expendable at the discretion of the trustees in furtherance of the objectives of charity.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the accounts.
2 Bank interest
Bank interest has been apportioned 20% to the General Fund and 80% to the Collections fund, in proportion to their balances at 31[st] December 2024.
3 Restricted funds
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www.midlandrailwaysociety.org.uk Registered Charity No. 1149613
Midland Railway Society
4 Trustees' remuneration and expenses
The trustees were not paid or received any benefits from employment with the charity, neither were they reimbursed expenses during the year. No trustee received payment for professional or other services supplied to the charity.
5 Related party transactions
MRS has links to many other similar organisations, and some of our trustees are also on their boards. These trustees do not take part in any decisions regarding loans or donations of collection equipment to avoid conflicts of interest. There were no financial related party transactions to report during the financial year.
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