**Trustees’ Annual Report for the period From 1[st] January 2022 To 31[st] December 2022 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.
The year has been focussed on consolidation and
progression of existing projects, with good progress being
made on Carriage and Wagon restoration, and on
Uskmouth No.1. We have also made a strategic purchase
of a Mark 1 CK coach (compartments) which will, once
restored, add a significant attraction to the DFRS fleet
available for use at the DFR.
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:
**Uskmouth No. 1 Restoration**
Work during this period has focussed on progression of the
chassis restoration and work on the saddle tank. This has
largely been undertaken by the Society’s volunteers, with
additional work on the boiler undertaken by specialist
contractors.
**Coaching and Wagon Fleet**
The Society has continued to hire a set of (on average) 5
Mark 1/2 coaches to Dean Forest Railway Company
Limited for operation of DFR services. In addition,
restoration works continued to TSO 4862 by volunteers.
The Trustees also took the opportunity to purchase a Mark
1 CK coach (corridor coach with compartments) at low cost
– although no restoration work has yet been undertaken on
the vehicle it will, in due course, be a very attractive
addition to the running fleet.
A significant restoration project underway during 2022 was
the restoration of the Society’s LMS Brake Van, being
undertaken off-site by a contractor. This will provide a new
vehicle for works trains in due course.
**Corporate Partnership with Quattro Plant**
During 2022, the Society formed a strategic partnership
with Quattro, which saw an RRV in full working order
donated to the Society, together with an agreement for
ongoing maintenance provision. We also purchased a
number of attachments for the machine, part-funded by
generous donations from our members.
**Station Improvement Works**
During early 2022, the refurbishment of Lydney Junction
Station was completed, with the resurfacing of the second
half of the platform and the construction of Midland-style
fencing across the platform end.
Significant funds were invested to help complete signalling
and other improvements at Parkend Station as well during
the year.
**Raffles**
A record Annual Prize Draw result was achieved this year,
with £24,711 being raised through on-train ticket sales and
tickets purchased by members. Our thanks to Raffle Co-
Ordinator Stan Rudge and his team of ticket sellers.
**Young Volunteers Group**
This group continued to hold regular monthly working
sessions for young members aged below 16, undertaking a
range of light maintenance and improvement projects. It
has grown significantly during 2022.| |---|---| **Other Achievements** During 2022, we have also continued to produce the Dean Forest Railway Magazine, and maintained its new 48 page, all colour format. The DFRS Publicity Stand attended a number of exhibitions and other events in 2022, enabling us to once again promote the railway and Society Membership across the region. Sales of the 50[th] Anniversary book, ‘Five Decades in the Forest’ continued during 2022, with a second print-run being commissioned. ## **Financial Review** ||_Review of the charity’s_
_financial position at the end_
_of the period_|2022 saw an overall increase in assets of £68,299, an
increase over 2021. This was helped in large part by the
donation of a Komatsu Road Rail Vehicle (RRV) from
Quattro Plant, organised by the late Roger Phelps in early
2022. This vehicle has since proved hugely useful for a
variety of tasks around the railway; the Society invested in a
range of attachments to achieve this, funded in part by
member donations.
Turnover increased from £139,485 in 2021 to £164,386 in
2022, with an increase in donations (again largely down to
the donation of the RRV) and vehicle hire. Raffle proceeds
increased yet again, to a new record high of £24,711 for the
year. Our thanks go to Stan Rudge and his team of raffle
ticket sellers, as well as to all of our members that
purchased tickets. However, membership fees decreased
to £14,111 over the year.
Expenditure for the year increased slightly to £95,890, with
just under half of this attributed to restoration work. The
main projects which saw investment in 2022 were TSO
4862, which the DFR C&W team continue to make good
progress on, and Peckett locomotive Uskmouth. As well as
these two vehicles, significant funds were spent on the
restoration on ex-Midland brake van no. 732268 which is
receiving a full overhaul off site, and we hope to see it
return to DFR metals in late 2023.
The Society continued to support the development of
Parkend station as the jewel in the DFR crown, with over
£5,000 invested in various works through 2022. A large
proportion of this consisted of funding to help complete
Parkend signalbox, a project which, alongside the
associated signalling, was nominated for a National Railway
Heritage Award. A further project which was conceived by
the Parkend volunteers was the creation of a
photographer’s enclosure to allow better viewing of the
locomotive at the south end of the station.
Importantly, the Society continues to make provisions for
the future by retaining £40,000 in a general reserve at the
end of 2022.| |---|---|---| |_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_|£40,000 as at 31st December 2022| |_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-
groups 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
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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||Resigned atyear end.|-| ## **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| ||28thOctober 2023|| ||28thOctober 2023|| ## **Dean Forest Railway Society (CIO) Balance Sheet** For the year ended 31 December 2022 ||**Account**|**2022**|**2021**|**2020**| |---|---|---|---|---| |**Fixed Assets**||||| ||**Tangible Assets**|||| ||Railway Vehicle|128,089|104,883|113,225| ||Machinery|44,124|5,350|-| ||Office Equipment|142|-|-| ||Shareholding in FoDRL|228,111|226,821|224,588| ||Shareholding in DFR DMU Group|500|500|500| ||Shareholding in DFR Heritage Wagon Group|295|295|295| ||**Total Tangible Assets**|**401,261**|**337,849**|**338,608**| |**Total Fixed Assets**||**401,261**|**337,849**|**338,608**| |**Current Assets**||||| ||**Cash at bank and in hand**|||| ||Accommodation Acc|11,691|11,705|12,342| ||C&W Acc|22,274|22,263|22,260| ||Carriage Account|29,113|27,459|11,630| ||Draw Account|0|0|75| ||Locomotive Account|6,904|17,531|18,088| ||Membership Acc|1,033|1,000|1,080| ||Reserve Acc|124,679|104,605|66,160| ||**Total Cash at bank and in hand**|**195,695**|**184,562**|**131,635**| ||Accounts Receivable|4,800|4,817|3,240| ||VAT receivable|0|0|2,478| |**Total Current Assets**||**200,495**|**189,379**|**137,353**| |**Creditors: amounts falling due withinone year**||||| ||Accounts Payable|6,268|204|1,243| ||VAT payable|1,085|918|0| |**Total Creditors: amounts falling due within one year**||**7,352**|**1,123**|**1,243**| ||**Net Current Assets(Liabilities)**|**193,143**|**188,256**|**136,110**| |||||| ||**Total Assets less Current Liabilities**|**594,404**|**526,105**|**474,718**| |||||| ||**Net Assets**|**594,404**|**526,105**|**474,718**| |**Capital and Reserves**||||| ||Retained Earnings brought forward|526,105|474,718|384,728| ||Current Year Income(Expenditure)|68,299|51,387|89,990| |**Total Capital and Reserves**||**594,404**|**526,105**|**474,718**| ## **Asset Register** |**Description**|**2022**|**2021**|**2020**| |---|---|---|---| |GWR Collett Corridor coach no. 5863|4,500|4,500|4,500| |BR Mark 2 TSO no. M5175|15,855|16,728|18,587| |BR Mark 2a TSO no. W5341|24,963|27,736|30,818| |BR Mark 1 BCK no. 21267|27,556|30,618|34,020| |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|22,415|1,500|1,500| |50% ownership of Austerity locomotive 'Wilbert'|10,000|10,000|10,000| |8 x Mk.1 coaches + XP64 coach|3,300|3,300|3,300| |BR Mark 1 CK no. 15984|9,000|-|-| |Thompson Hydraulic Fast Clipper, serial no. FC20311027|200|200|-| |Thompson Hydraulic Fast Clipper, serial no. FC20110004|150|150|-| |Rexquote T4 20T TWIN AXLE RAIL TRAILER,serial no. 101199-6, plant no. RT193|4,500|5,000|-| |RRV Flail Mower|||| |Robustrack Flail Mower LS5 1000|5,400|-|-| |Robustrack Quick hitch mounting bracket for Flail LS5|300|-|-| |RRV Log Grab|||| |Robustrack KAR 02 for C110F - link adapter|377|-|-| |Robustrack Log Grab RM2 1650 SP|2,962|-|-| |Robustrack Log Grab Rotor C110 F (GR104DB)|1,966|-|-| |Robustrack GMR rotator Mounting Bracket - Quick Hitch|269|-|-| |Komatsu PW130ES-6K no.331|28,000||| |ZZapCS20+ Coin Counter & Sorter|142|-|-| ||**172,355**|**110,233**|**113,225**| ## **Dean Forest Railway Society (CIO) Income & Expenditure** For the year ended 31 December 2022 |**Account**|**2022**|**2021**|**2020**| |---|---|---|---| |**Turnover**|||| |Memberships|14,111|16,160|20,742| |Donations|64,071|50,424|77,905| |Raffle|24,711|19,202|6,640| |Hire and Sales|52,565|46,923|15,392| |Gift Aid|8,830|6,306|15,453| |Interest Income|99|15|42| |Other Revenue|0|455|0| |**Total Turnover**|**164,386**|**139,485**|**136,173**| |**Cost of Sales**|||| |Processing Fees|198|255|408| |**Total Cost of Sales**|**198**|**255**|**408**| |**Gross Income (Expenditure)**|**164,189**|**139,231**|**135,765**| |**Administrative Costs**|||| |Operating Costs|19,419|17,242|10,190| |Project Funding|6,494|12,208|11,420| |Maintenance|6,501|7,696|11,847| |Restoration|45,295|33,959|3,419| |Other DFR Funding|8,144|8,062|257| |Equipment|2,028|334|563| |Depreciation|8,008|8,343|8,080| |**Total Administrative Costs**|**95,890**|**87,844**|**45,775**| |**Operating Income (Expenditure)**|**68,299**|**51,387**|**89,990**| ||||| |**Retained Earnings**|**68,299**|**51,387**|**89,990**| ## **Income** |**Raffle**|**2022**|**2021**|**2020**| |---|---|---|---| |2020 Main Raffle|0|0|5,446| |2020 Xmas Raffle|0|656|1,194| |2021 Main Raffle|0|16,431|0| |2021 Santa Raffle|4,669|2,115|0| |2022 Main Raffle H1|9,733|-|-| |2022 Main Raffle H2|7,049|-|-| |2022 Santa Raffle|3,260|-|-| |**Total**|**24,711**|**19,202**|**6,640**| |**Donations**|**2022**|**2021**|**2020**| |Monetary Donations|29,481|33,191|70,476| |Donation of shares|1,290|2,233|2,429| |Donation of Railway Vehicle|28,000|0|0| |Grants|2,300|15,000|5,000| |Legacies|3,000|0|0| |**Total**|**64,071**|**50,424**|**77,905**| |**Hire and Sales**|**2022**|**2021**|**2020**| |Vehicle Hire|48,260|44,100|15,200| |Book Sales|3,732|2,793|0| |Merchandising|572|0|0| |Event Tickets|0|0|192| |Magazine Sales|0|30|0| |**Total**|**52,565**|**46,923**|**15,392**| ## **Expenditure** |**Operating Costs**|**2022**|**2021**|**2020**| |---|---|---|---| |Advertising & Marketing|607|0|310| |General Expenses|191|2,390|974| |Postage, Freight & Courier|5,641|4,381|1,851| |Printing & Stationery|10,520|9,202|6,270| |Subscriptions|582|794|435| |Raffle Prize Money|850|475|350| |Exhibition Stand|228|0|0| |Locomotive Hire|800|0|0| |**Total**|**19,419**|**17,242**|**10,190**| |**Project Funding**|**2022**|**2021**|**2020**| |Extension Work|0|139|2,160| |Long Siding Work|0|1,279|609| |Lydney Junction Improvement Works|790|6,156|622| |Parkend Works|5,704|4,498|391| |Wye Valley Project|0|136|7,638| |**Total**|**6,494**|**12,208**|**11,420**| |**Maintenance**|**2022**|**2021**|**2020**| |Repairs & Maintenance|275|4,989|4,296| |Carriage Maintenance|4,335|2,707|5,621| |Carriage Repair|0|0|1,930| |Accommodation Coach Maintenance|1,891|0|0| |**Total**|**6,501**|**7,696**|**11,847**| |**Restoration**|**2022**|**2021**|**2020**| |Wagon Restoration|552|250|0| |Carriage Restoration|33,660|18,150|1,260| |Uskmouth Restoration|11,084|15,560|2,159| |**Total**|**45,295**|**33,959**|**3,419**| |**Other DFR Funding**|**2022**|**2021**|**2020**| |Volunteer Training|1,750|750|257| |Whitecroft Cable Repair|4,046|7,312|0| |Sundry Materials|1,890|0|0| |Woodwork Shop Build|458|0|0| |**Total**|**8,144**|**8,062**|**257**| ## **Dean Forest Railway Society** ## **Independent Examiners Report for the year ended December 2022 (1183538)** Confirmation of continued appointment as Independent Examiner received via email. I can confirm that I am a qualified accountant (FCCA) and do not have any related parties in connection with DFRS as described under Direction 2 of CC32 – Independent examination of charity accounts. ## **Independent Examiners Report for Dean Forest Railway Society.** I report to the trustees on my examination of the accounts of DFRS for the year ended 31 December 2022. ## **Responsibilities and basis of report** As the charity trustees 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 believe that in any material respect: 1. accounting records were not kept in respect of the Trust 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. ## **Additional note** It is great to see all the hard work that is being done by everyone at DFR to make the history of the railway open to everyone. A large amount of work has been complete on carriage restoration in 2022 along with other maintenance work on the whole railway and rolling stock, funded by generous donations of both money and time by the volunteers. Signed: Name: Elaine Bailey Relevant professional qualification or membership of professional bodies (if any): Association of Chartered Certified Accountants Address: 38 Clock Tower Road, Longford, Gloucester. GL2 9FP Date: 04/10/2023