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2021-12-31-accounts

Trustees’ Annual Report for the period From 1[st] January 2021 To 31[st] December 2021 Charity name: Dean Forest Railway Society Charity registration number: 1183538

Objectives and Activities

Summary of the purposes of
the charity as set out in its
governing document		 The objects of the charity are:
(1) To preserve, restore, develop and operate the Dean
Forest Railway;
(2) To advance the education of the public in railway history
and in particular the preservation and development of
the Dean Forest Railway, the former Severn and Wye
Joint Railway and other railways in or around the Forest
of Dean, including the history of associated canals,
plateways and tramways and connected industries;
(3) To advance education by training in craft, engineering,
business and all other skills pertinent to the maintenance
and operation of a heritage railway as the trustees
consider appropriate.
Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or
services identified in the
accounts.		 The charity’s members undertake voluntary work to
operate, restore and develop the Dean Forest Railway.
Throughout the period under review, our ‘working’
volunteers have operated the railway, and training has been
provided by our members to newly recruited volunteers, in
the necessary skills for operation of the heritage railway.
We provide funds for enhancement projects at the railway,
where they are in accordance with our charitable purposes.
During the first part of 2021, our focus was on supporting
the railway through a COVID lockdown, via continued
support from our Emergency Fund and through developing
a successful application for Lottery Funding for Forest of
Dean Railway Limited. Our volunteers continued to operate
and maintain the railway, against a constantly changing
background of restrictions.
Later in the year, our focus moved to commemorating the
railway’s 50thanniversary, celebrations which had been
delayed from 2020 by COVID-19. In addition to a major
gala, we launched a commemorative book on the history of
the railway over the last 50 years.
Other progress was made on refurbishment activities at
Lydney Junction station, together with restoration activities
on Uskmouth No. 1 and the society’s carriages and
wagons.
We continue to publish the quarterly Dean Forest Railway
magazine, which includes a mixture of articles educating
the readership about current activities at the heritage
railway, and on the history of railways in the Forest of Dean.
We have raised funds through a number of sources during
the period in question, mainly membership subscriptions,
raffles, grant funding, and donations.
Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit		 The Trustees have complied with their duty to have due
regard to the commission’s public benefit guidance when
exercising any powers or duties to which the guidance is
relevant.

Additional information

Policy on grant making The charity has a specific grant-making policy, which is
available to applicants. In summary, the Trustees require
projects to be fully costed before we will consider funding
them, and require a written explanation of how the project
meets with our charitable purposes before it will be
considered for funding. Most projects are managed from
within the Trustees, but if not procedures are in place for
financial management and reporting of each funded project.
Policy on social investment
including program related
investment		 N/A
Contribution made by
volunteers		 The charity has no paid employees – all of its work and
organisation is done by volunteers.
The contribution made by volunteers to the charity’s work is
significant – we estimate over 20,000 hours of voluntary
work was provided during the period covered by this report
to operate, develop and restore the railway by our
volunteers. Their work ranges from that of the Trustees,
through fundraising and membership administration, to
railway operation, engineering and restoration activities.

Achievements and Performance

Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.		 In addition to the wider work of our members in operating,
developing and restoring the Dean Forest Railway during
this reporting period, the charity has made some specific
achievements which are outlined below:
COVID-19 Response
2021 started with another lockdown, and continuing
restrictions meant that the railway could not start operating
until mid-April, with COVID procedures remaining in place
until mid-July. The Trustees continued to support the
railway’s COVID-19 response, alongside Directors of the
Dean Forest Railway Company Limited, and Forest of Dean
Railway Limited.
Our Emergency Appeal continued until mid-2021, and at its
close had raised a total of £77,818.50, which was invested
into the railway either directly via project funding, or via
share purchase in Forest of Dean Railway Limited.
In addition to financial support, many of our members
provided many hours of voluntary work to operate, maintain
and develop the railway once COVID-restrictions allowed.
National Lottery Heritage Fund
During early 2021, the Society Trustees and Company
Directors jointly prepared an application to the National
Lottery Heritage Fund under their Culture Recovery Fund
for Heritage, to support day-to-day operating costs of the
railway company whilst the railway re-opened and adapted
to the “new normal”. The £115,800 grant was awarded to
Forest of Dean Railway Limited, and covered operating
costs, wages, overheads, and essential maintenance to
allow the railway to return to normal operation during April
to June 2021.
Uskmouth No. 1 Restoration
The Society obtained a total of £15,000 of grant funding
towards the continuing restoration of this locomotive. This
comprised £10,000 from West Dean Parish Council’s
‘Yorkley Solar Farm Section 106 Grant Scheme’ and
£5,000 from Gloucestershire County Council’s ‘Growing our
Communities Fund’.
Coaching and Wagon Fleet
The overhaul of TSO 4862 continued to make good
progress during 2021, with much of the coach’s bodywork
replaced by a team of volunteers supplemented by
contractors. We look forward to the coach returning to
service in due course.
TSO M4923 returned to the railway in April 2021, following
contract overhaul at the West Somerset Railway, where it
received many bodywork repairs, including crash pillars and
gangway ends, and a full repaint into BR Maroon livery. It
was in regular service for the remainder of the year.
During 2021, restoration was completed by volunteers of
the Society’s Conflat wagon.

Fiftieth Anniversary Activities A gala was finally held in October 2021 to celebrate the 50[th] Anniversary of the formation of the original Dean Forest Railway Preservation Society (delayed from 2020 due to COVID-19). During this Gala, we unveiled a commemorative plaque at Parkend, and presented “50 years” commemorative badges to founder members. The event generated much positive coverage in the railway media. Additionally, the Society produced and published a book, entitled “Five Decades in the Forest”, which was a pictorial record of the DFR’s first 50 years, running to 164 pages. By the end of 2021, the vast majority of the first print run of 400 copies had been sold. Andrew Barclay No. 2221 This locomotive was owned by a group of members, and was donated to the Society during 2021. It was originally in use at HM Dockyard Devonport. Whilst restoration work will not commence in the near future, it is the intention of the Trustees to return the locomotive to steam in the mid to long term. Lydney Junction Works During 2021, the Society-funded project to improve Lydney Junction station made good progress, with half of the platform completely resurfaced, and platform lighting installed along the whole platform. We also funded the installation of new PVC windows into the building. Although the windows would have originally been wooden, these windows have been designed to closely match the originals in appearance, whilst being largely maintenance free. Volunteer Accommodation Coach During 2021, the long siding was re-laid and the accommodation coach was moved into position. By the end of 2021, final installation works were progressing. Raffles A record Annual Prize Draw result was achieved this year, with £16,431 being raised through on-train ticket sales and tickets purchased by members. Our thanks to Raffle CoOrdinator Stan Rudge and his team of ticket sellers. We also achieved an excellent result from the on-train Santa Special Raffles - £6,784 being raised. Young Volunteers Group This group was re-started after a long period of inactivity during 2020, and has developed into regular monthly working sessions for young members aged below 16, undertaking a range of light maintenance and improvement projects. It has grown significantly during 2021, with members undertaking refurbishment of picnic tables at Norchard, together with much repainting of fences and railings. Special Projects Team This new group was set up by DFRS Trustees, and effectively does the jobs that aren’t necessarily covered by existing groups or departments at the railway. During 2021,

the team moved substantial amounts of building materials from the south end of the Norchard High Level platform, and installed new cable troughing at Parkend, as well as undertaking vegetation clearance at St. Mary’s. Other Achievements During 2021, we have also continued to produce the Dean Forest Railway Magazine, and maintained its new 48 page, all colour format. We also completed the Gate Guardian project, with lettering of the tank wagon to form an appropriate welcome to our visitors as they approach along Forest Road. The DFRS Publicity Stand returned to the exhibition circuit in 2021, enabling us to once again promote the railway and Society Membership across the region.

Financial Review

Review of the charity’s
financial position at the end
of the period		 The DFRS continues to operate in a financially responsible
and sustainable way, with an overall increase in assets of
£51,387. This represents a decrease compared to 2020;
however, overall income increased largely thanks to vehicle
hire and raffle proceeds. The former is proving extremely
successful in restoring, upgrading and maintaining the
coaching stock at the DFR, as evidenced by the increase in
expenditure on rolling stock restoration. As a result,
significant progress has been made on TSO no. 4862; an
overhaul essentially comprising of a major rebuild of the
coach. Major work was also completed on Uskmouth, with
the assistance of a combined £15,000 in grant funding – we
hope to see the locomotive back in steam in 2023.
Membership fees were down compared to 2020 (£16,160
vs £20,742); however, many members contributed to the
Emergency Fund appeal by purchasing long-term or life
memberships, leading to a significant increase in that year.
Membership figures remain strong.
Similarly, donations decreased due to the extremely high
levels received in 2020 to support the DFR through the
Covid pandemic. However, the Society has avoided any
major fundraising campaigns over 2021/22 in the
expectation of developments in the near future.
Raffle ticket sales increased greatly, thanks to the ability to
return to selling tickets to the public on trains. In fact, 2021
marked a record year for draw ticket sales, with a total of
£23,215 beating the previous best of £21,486 (in 2019).
Significant funding was made available for a variety of
projects benefiting the DFR, notably improvement work at
Lydney Junction which has transformed the station and
repair of a telecoms cable between Whitecroft and Parkend,
with the future-proofing of concrete troughing installed at
the same time.
The charity’s assets railway vehicle assets as at the end of
2021 were valued at £110,833. Additions in this year were
a set of items bought via auction suitable for use with a
Road Rail Vehicle, which the Society received in 2022.
Importantly, the Society continues to make provisions for
the future by retaining £30,000 in a general reserve at the
end of 2021.
Statement explaining the
policy for holding reserves
stating why they are held		 A reserve policy was introduced in 2019 following the
incorporation of the DFRS as a CIO; £10,000 of
unrestricted income per annum is set aside into a General
Reserve fund, which will be invested when
appropriate to provide a long-term source of income
through interest.
Amount of reserves held £30,000 as at 31st December 2021
Reasons for holding zero
reserves		 N/A
Details of fund materially in
deficit		 No funds were materially in deficit
Explanation of any
uncertainties about the
charity continuing as a going
concern		 The trustees have no concerns about the charity continuing
as a going concern.

Structure, Governance and Management

Description of charity’s
trusts:		 N/A
Type of governing document
The governing document is a CIO Association Constitution
based on the Charity Commission’s model.
How is the charity
constituted?		 Charitable Incorporated Organisation (CIO)
Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees		 Up to 12 Trustees are elected by the membership as
outlined in the Constitution. The Trustees also have the
ability to appoint (co-opt) a further four Trustees in order to
fill any identified skills gaps.

Additional information (optional)

You may choose to include further statements where relevant about:

Policies and procedures
adopted for the induction
and training of trustees		 The charity has no formal policy for the induction and
training of trustees, but requirements are met by ad-hoc
training arranged as required by the Chair and other
trustees.
The charity’s organisational
structure and any wider
network with which the
charity works		 The charity is administered by the Trustees, who meet on
an approximately monthly basis. Within the Trustees, sub-
committees cover subjects such as Fundraising,
Volunteering & Publicity, Education etc.
Relationship with any related
parties		 The charity works closely with Forest of Dean Railway
Limited, a not-for-profit company which owns the Dean
Forest Railway. The charity is a ‘Person with significant
control’ within the company, as it owns over 25% of the
issued shares. We have a Memorandum of Understanding
with the company which covers how we work together on

delivering the Charity’s aims.

Reference and Administrative details

Charity name Dean Forest Railway Society
Other name the charity uses DFRS, DFR Society.
Registered charity number 1183538
Charity’s principal address Norchard Station
New Mills
Forest Road
Lydney
GL15 4ET

Names of the charity trustees who manage the charity

1
2
3
4
5
6
7
8
9
10
11
12		 Trustee name Office (if any) Dates acted if not for whole
year		 Name of person (or
body) entitled to
appoint trustee (if
any)
Alastair Clarke Chair of Trustees -
James Graham Vice-Chair of
Trustees		 -
TimothyMcLennan Treasurer -
Susan Williams HonorarySecretary -
Ian Pope -
Adam Williams Membership
Secretary		 -
Adrian Copley -
Daniel Winter -
David Churton -
Robert Alpin -
Robert Harris Press Officer -
Jan van der Elsen -

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s)
Full name(s)
Position (eg Secretary,
Chair, etc)
Date
Alastair Clarke Timothy McLennan

Chair of Trustees		 Treasurer
20thOctober 2022
20thOctober 2022

Dean Forest Railway Society (CIO) Income & Expenditure

For the year ended 31 December 2021

Account 2021 2020 2019
Turnover
Memberships 16,160 20,742 12,339
Donations 33,191 70,476 43,006
Grants 15,000 5,000 0
Vehicle Hire 44,100 15,200 13,600
2020 Xmas Raffle 656 1,194 0
2020 Main Raffle 0 5,446 0
2021 Main Raffle 16,431 0 0
2021 Santa Raffle 2,115 0 0
Book Sales 2,793 0 0
Gift Aid 6,306 15,453 0
Other Revenue 455 0 607
Interest Income 15 42 34
Event Tickets 0 192 0
Magazine Sales 30 0 0
Donation of shares 2,233 2,429 2,590
Donation of Railway Vehicle 0 0 4,500
Total Turnover 139,485 136,173 76,675
Cost of Sales
Processing Fees 255 408 113
Total Cost of Sales 255 408 113
Gross Income (Expenditure) 139,231 135,765 76,562
Administrative Costs
Advertising & Marketing 0 310 1,105
General Expenses 2,390 974 937
Postage, Freight & Courier 4,381 1,851 2,388
Printing & Stationery 9,202 6,270 4,592
Subscriptions 794 435 182
Equipment 334 563 0
Raffle Prize Money 475 350 0
Wagon Restoration 250 0 0
Volunteer Training 750 257 0
Repairs & Maintenance 4,989 4,296 27,452
Carriage Maintenance 2,707 5,621 695
Carriage Repair 0 1,930 0
Carriage Restoration 18,150 1,260 165
Uskmouth Restoration 15,560 2,159 0
Extension Work 139 2,160 0
Long Siding Work 1,279 609 0
Lydney Junction Improvement Works 6,156 622 0
Parkend Works 4,498 391 0
Wye Valley Project 136 7,638 0
Whitecroft Cable Repair 7,312 0 0
Depreciation 8,343 8,080 8,500
Exhibition Stand 0 0 68
Museum Contribution 0 0 471
Locomotive Hire 0 0 525
Total Administrative Costs 87,844 45,775 47,080
Operating Income (Expenditure) 51,387 89,990 29,482
Income (Expenditure) on Ordinary Activities Before Taxation 51,387 89,990 29,482
Income (Expenditure) after Taxation 51,387 89,990 29,482
Statement of other comprehensive income
Revaluation of fixed assets 0 0 (3,300)
0 0 (3,300)
Retained Earnings 51,387 89,990 26,182

Dean Forest Railway Society (CIO) Balance Sheet

For the year ended 31 December 2021

Account 2021 2020 2019
Fixed Assets
Tangible Assets
Railway Vehicle 104,883 113,225 97,300
Machinery 5,350 0 0
Shareholding in FoDRL 226,821 224,588 168,153
Shareholding in DFR DMU Group 500 500 500
Shareholding in DFR Heritage Wagon Group 295 295 295
Total Tangible Assets 337,849 338,608 266,248
Total Fixed Assets 337,849 338,608 266,248
Current Assets
Cash at bank and in hand
Accommodation Acc 11,705 12,342 12,947
C&W Acc 22,263 22,260 22,252
Carriage Account 27,459 11,630 0
Draw Account 0 75 11,726
Locomotive Account 17,531 18,088 20,296
Membership Acc 1,000 1,080 45
Reserve Acc 104,605 66,160 52,904
Total Cash at bank and in hand 184,562 131,635 120,170
Accounts Receivable 4,817 3,240 126
VAT receivable 0 2,478 0
Total Current Assets 189,379 137,353 120,296
Creditors: amounts falling due within one year
Accounts Payable 204 1,243 893
VAT payable 918 0 922
Total Creditors: amounts falling due within one year 1,123 1,243 1,816
Net Current Assets(Liabilities) 188,256 136,110 118,480
Total Assets less Current Liabilities 526,105 474,718 384,728
Net Assets 526,105 474,718 384,728
Capital and Reserves
Retained Earnings brought forward 474,718 384,728 358,546
CurrentYear Income (Expenditure) 51,387 89,990 26,182
Total Capital and Reserves 526,105 474,718 384,728
Asset Register
Vehicle 2021 2020 2019
GWR Collett Corridor coach no. 5863 4,500 4,500 4,500
BR Mark 2 TSO no. M5175 16,728 18,587 19,500
BR Mark 2a TSO no. W5341 28,336 30,818 23,500
BR Mark 1 BCK no. 21267 30,618 34,020 37,800
BR ‘Shark’ van no. 993901 3,000 3,000 3,000
Conflat wagon no. 504817 1,000 1,000 1,000
Fuel tanker wagon no. 48525 1,500 1,500 1,500
BR 20T Brake van no. 955224 2,000 2,000 2,000
Fuel tanker wagon no. 749676 1,500 1,500 1,500
Dogfish no. 992873 1,500 1,500 1,500
Midland Brake no. 732268 1,500 1,500 1,500
50% ownership of Austerity locomotive 'Wilbert' 10,000 10,000 -
8 x Mk.1 coaches + XP64 coach 3,300 3,300 -
Thompson Hydraulic Fast Clipper, serial no. FC20311027 200 - -
Thompson Hydraulic Fast Clipper, serial no. FC20110004 150 - -
Rexquote T4 20T TWIN AXLE RAIL TRAILER,serial no. 101199-6,plant no. RT19 5,000 - -
TOTAL 110,833 113,225 97,300

Notes