## **Trustees’ Annual Report for the period** **From 1[st] January 2024 To 31[st] December 2024** **Charity name: Dean Forest Railway Society** **Charity registration number: 1183538** ## **Objectives and Activities** ||SORP reference|| |---|---|---| |Summary of the purposes of
the charity as set out in its
governing document|Para 1.17|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.|Para 1.17 and
1.19|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 society also holds a number of assets
to support the operation of the railway,
including the carriages, the locomotive
‘Uskmouth 1’, the Road Rail Vehicle (which
helps tremendously with maintenance
works) and other rolling stock.| |||We continue to publish the 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|Para 1.18|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 (optional)**
You may choose to include further statements|**Additional information (optional)**
You may choose to include further statements|where relevant about:| |---|---|---| ||SORP reference|| |Policy on grant making|Para 1.38|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|Para 1.38|N/A| |Contribution made by
volunteers|Para 1.38|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.| |Other||| ## **Achievements and Performance** ||SORP reference|| |---|---|---| |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.|Para 1.20|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:
**Return to steam of Uskmouth 1**
The Society’s flagship locomotive,
Uskmouth 1, finished its restoration this
year and returned to steam for the end of
the season. We also were able to raise
important funds towards the continued
maintenance of the locomotive by hiring
Uskmouth to the Somerset & Dorset
Railway at Midsomer Norton for their
Christmas event.
**Carriages**
Vital works continued on the coaching
stock throughout the year, including
complete reupholstery on at least one
vehicle, with the aim to complete a full
update across the running stock by the end
of 2025. This included the agreement to
hire in a coach in 2025 to allow a rotation of
coaches to be taken out of service for
maintenance.
**Volunteer Accommodation**
By the end of 2024 the accommodation
coach was nearly fully completed, and was
habitable, allowing volunteers to stay
overnight, with just a few works needed to
sort items including the shower.
**Volunteer & Membership Benefits**
The Society has worked with the company
to improve the benefits afforded to all its
members at special events. Previously the
membership discounts have only been
valid for standard train rides, but we are
now able to offer discounts at most of the
railway’s special events, including all galas,
evening dining trains and childrens’ events.
**Raffles**
Once again, the Society held it’s two
annual draws (Spring and Autumn), plus
the raffle on board the train at the Santa
Specials. We are grateful to all of our
volunteers who give their time to sell
tickets. We have however found difficulties
in filling our ticket seller duties in recent
times and would welcome any new| volunteers who would be interested in helping out. **Young Volunteers Group** The young volunteers group has once again continued to grow and has seen even more involvement in both small jobs around the railway and helping at events, including fully decorating the carriages for Christmas and helping bring fun activities to both the Forest Railway Stories and Witches & Wizards events. **Other achievements** The Society continued to produce the ‘Dean Forest Railway Magazine’, espousing the achievements of the railway and providing historical pieces about the railway. The Society Stand attended multiple events throughout the year, promoting both the railway and the Society specifically and bringing in new members and volunteers. **Additional information (optional)** You may choose to include further statements where relevant about: |||| |---|---|---| |Achievements against
objectives set|Para 1.41|| |Performance of fundraising
activities against objectives
set|Para 1.41|| |Investment performance
against objectives|Para 1.41|| |Other||| ## **Financial Review** |Review of the charity’s
financial position at the end
of the period|Para 1.21|2025 saw a continued increase in fixed
asset value thanks to continued investment
in rolling stock and machinery. Significant
purchases included additional attachments
for the RRV such as a log grab, sleeper
grab and auger, a steam pressure cleaner
at the request of the DFR Engineering
department, and a road vehicle trailer
purchased with the help of donations which
will prove useful in moving materials
around the DFR without the need for rail
moves. The Society also became the
owners of the two 16t mineral wagons
currently located at St Marys, and Tube
wagon no. 730386 lying at Lydney
Junction.
The Society is pleased to have overseen
major progress on a number of restoration
projects. Peckett locomotive ‘Uskmouth 1’
returned to service in late 2024 at the Royal
Forest of Steam gala, while work quickly
commenced on Andrew Barclay saddle
tank no. 2221. We hope to see the latter
completed in 2026. Similarly, Wickham
trolley no.4254 is approaching completion
as at October 2025, and we continue to
thank Michael Keenoy for the work he is
putting into this vehicle.
Turnover decreased from £131,740 in 2023
to £118,550 in 2024. The total value of
donations reduced from £31,571 to
£21,444, although there were no significant
donation drives throughout the year so this
is not unreasonable. Membership fees,
however, did increase from £14,429 to
£20,566.
Raffle takings improved from £20,608 to
£22,278. We continue to be grateful to our
ticket sellers and those involved with
organising the rosters, and of course all our
supporters who enter our raffle each year.
Expenditure for the year decreased from
£62,684 to £71,343. This combined with a
reduction in income means that the overall
retained earnings reduced to £46,732 for
the year, compared to £68,855 in 2023.
The Society continues to make provisions
for the future by retaining £60,000 in a
general reserve at the end of 2024.| |---|---|---| ||Para 1.22|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|Para 1.22|£60,000 as at 31st December 2024.| |Reasons for holding zero
reserves|Para 1.22|N/A| |Details of fund materially in
deficit|Para 1.24|No funds were materially in deficit.| |Explanation of any
uncertainties about the
charity continuing as a going
concern|Para 1.23|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
(trust deed, royal charter)|Para 1.25|The governing document is a CIO
Association Constitution based on the
Charity Commission’s model.| |How is the charity
constituted?
(e.g unincorporated
association, CIO)|Para 1.25|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|Para 1.25|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|**Additional information (optional)**
You may choose to include further statements|where relevant about:| |---|---|---| |Policies and procedures
adopted for the induction
and training of trustees|Para 1.51|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|Para 1.51|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|Para 1.51|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.| |Other||| ## **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
13
14
15
16
17
18
19
20|**Trustee name**|**Office (if any)**|**Dates acted if not for whole**
**year**|**Name of person (or body) entitled**
**to appoint trustee(if any)**| |---|---|---|---|---| ||James Graham|Chair of Trustees||| ||Adam Williams|Vice-Chair of
Trustees/
Membership
Secretary||| ||TimothyMcLennan|Treasurer||| ||Susan Williams|HonorarySecretary||| ||Alastair Clarke|Chair of Trustees|Resigned March 2024|| ||Adrian Copley|||| ||Daniel Winter||Resigned May2024|| ||David Churton|||| ||Robert Harris||Resigned October 2024|| ||Ian Pope||Resigned March 2024|| ||Stan Rudge||Resigned April 2024|| ||Lynne Wentworth||Appointed May2024|| ||Martin Hillier||Appointed May2024|| ||Alan Grant||Appointed May2024|| ||Douglas Johnson||Appointed May2024|| ||Edward Dyer||Appointed May2024|| ||Peter Wood||Appointed May2024|| |||||| |||||| |||||| – Corporate trustees names of the directors at the date the report was approved **Director name N/A** Name of trustees holding title to property belonging to the charity |**Trustee name**|**Dates acted if not for whole year **|| |---|---|---| |**N/A**||| |||| |||| |||| |||| |||| ## **Funds held as custodian trustees on behalf of others** Description of the assets N/A held in this capacity Name and objects of the N/A charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for N/A safe custody and segregation of such assets from the charity’s own assets ## **Additional information (optional)** ## **Names and addresses of advisers (Optional information)** |**Type of**
**adviser**
**Name**
**Address**|**Type of**
**adviser**
**Name**
**Address**|**Type of**
**adviser**
**Name**
**Address**| |---|---|---| |||| |||| |||| |||| |**Name of chief executive or names of senior staff members (Optional information)**||| |||| ## **Exemptions from disclosure** Reason for non-disclosure of key personnel details **N/A** ## **Other optional information** ## **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**||| |---|---|---| ||James Andrew Graham|Susan Williams| ||
Chair|Honorary Secretary| ||30/10/2025|| ||30/10/2025|| ## **Dean Forest Railway Society (CIO) Balance Sheet** ## For the year ended 31 December 2024 |**Account**|**2024**|**2023**|**2022**| |---|---|---|---| |**Fixed Assets**|||| |**Tangible Assets**|||| |Railway Vehicle|154,304|145,363|128,089| |Machinery|67,299|46,617|44,124| |Office Equipment|115|127|142| |Shareholding in FoDRL|246,682|240,311|228,111| |Shareholding in DFR DMU Group|500|500|500| |Shareholding in DFR Heritage Wagon Group|295|295|295| |**Total Tangible Assets**|**469,194**|**433,213**|**401,261**| |**Total Fixed Assets**|**469,194**|**433,213**|**401,261**| |**Current Assets**|||| |**Cash at bank and in hand**|||| |Accommodation Acc|9,162|11,557|11,691| |C&W Acc|22,738|22,470|22,274| |Carriage Account|79,725|54,061|29,113| |Draw Account|8,918|0|0| |Locomotive Account|6,275|0|6,904| |Membership Acc|1,396|1,441|1,033| |Reserve Acc|115,387|138,965|124,679| |**Total Cash at bank and in hand**|**243,601**|**228,494**|**195,695**| |Accounts Receivable|0|5,080|4,800| |**Total Current Assets**|**243,601**|**233,574**|**200,495**| |**Creditors: amounts falling due within one year**|||| |Accounts Payable|160|1,097|6,268| |VAT payable|1,646|1,433|1,085| |**Total Creditors: amounts falling due within one year**|**1,806**|**2,530**|**7,352**| |**Net Current Assets (Liabilities)**|**241,796**|**231,045**|**193,143**| ||||| |**Total Assets less Current Liabilities**|**710,990**|**664,258**|**594,404**| ||||| |**Net Assets**|**710,990**|**664,258**|**594,404**| |**Capital and Reserves**|||| |Retained Earnings brought forward|664,258|594,404|526,105| |Current Year Income(Expenditure)|46,732|68,855|68,299| |Total Retained Earnings|710,990|663,259|594,404| |Revaluation Reserves|-|999|-| |**Total Capital and Reserves**|**710,990**|**664,258**|**594,404**| ## **Asset Register** |Scrap va**Description**|Scrap va**Description**|**2024**|**2023**|**2022**| |---|---|---|---|---| |4,500|GWR Collett Corridor coach no. 5863|4,500|4,500|4,500| |5,000|BR Mark 2 TSO no. M5175|23,764|17,410|15,855| |5,000|BR Mark 2a TSO no. W5341|26,500|22,716|24,963| |5,000|BR Mark 1 BCK no. 21267|22,377|24,863|27,556| |3,000|BR ‘Shark’ van no. 993901|3,000|3,000|3,000| |1,000|Conflat wagon no. 504817|1,000|1,000|1,000| |1,500|Fuel tanker wagon no. 48525|1,500|1,500|1,500| |2,000|BR 20T Brake van no. 955224|2,000|2,000|2,000| |1,500|Fuel tanker wagon no. 749676|1,500|1,500|1,500| |1,500|Dogfish no. 992873|1,500|1,500|1,500| |2,000|Midland Brake no. 732268|25,176|27,974|22,415| |10,000|50% ownership of Austerity locomotive 'Wilbert'|10,000|10,000|10,000| |3,300|8 x Mk.1 coaches + XP64 coach|3,300|3,300|3,300| |5,000|BR Mark 1 CK no. 15984|7,290|8,100|9,000| |1,000|Wickham Trolley Works No. 4254|1,773|1,000|-| |15,000|Andrew Barclay 0-4-0ST no. 2221|16,124|15,000|-| |1,500|BR 'Tube' wagon no. 730386|1,500|-|-| |200|Thompson Hydraulic Fast Clipper, serial no. FC20311027|200|200|200| |150|Thompson Hydraulic Fast Clipper, serial no. FC20110004|150|150|150| |1,000|Rexquote T4 20T TWIN AXLE RAIL TRAILER, serial no. 101199-6, plant no. RT193|3,645|4,050|4,500| ||RRV Flail Mower|||| |1,000|Robustrack Flail Mower LS5 1000|4,374|4,860|5,400| |0|Robustrack Quick hitch mounting bracket for Flail LS5|243|270|300| ||RRV Log Grab|||| |0|Robustrack KAR 02 for C110F - link adapter|305|339|377| |1,000|Robustrack Log Grab RM2 1650 SP|2,399|2,666|2,962| |500|Robustrack Log Grab Rotor C110 F (GR104DB)|1,592|1,769|1,966| |0|Robustrack GMR rotator Mounting Bracket - Quick Hitch|218|242|269| |10,000|Komatsu PW130ES-6K no.331|23,468|26,076|28,000| |0|20ft Container|5,396|5,995|-| |0|ZZap CS20+ Coin Counter & Sorter|115|127|142| ||RRV Swinging Log Grab|||| |500|Robustrack Ltd - Log Grab Rotor C110 F (GR104DB) Swinging|1,724|-|-| |0|Robustrack Ltd - GMR Rotator Mounting Bracket|320|-|-| |0|Robustrack Ltd - KAR 02 for C110F - link adapter|420|-|-| |0|Robustrack Ltd - 2 pairs of 2m pipes 3/4 with couplings|200|-|-| |0|Nilfisk 400HM Mobile Hot Water Pressure Washer|3,695|-|-| |500|Ballast Box|3,381|-|-| |500|RRV Sleeper Grab|2,840|-|-| |0|18" KOMATSU PW130 / WELD IN PIN / RBOCE|950|-|-| |500|Thomson BALLAST PLOUGH, plant no. BP106, serial no. BP20606007|1,450|-|-| |250|Fassetta RAIL LIFTING BEAM, plant no. FB275, serial no. 250|1,300|-|-| |250|Fassetta RAIL LIFTING BEAM, plant no. FB153, serial no. TT27763|1,350|-|-| |1,000|Augertorque 15000 Max Drive Motor|3,223|-|-| |0|Mixer Drum|348|-|-| |500|Auger S6 - Rock Auger 600mm|1,154|-|-| |0|DPCH 60mm Pins|914|-|-| |0|S6 2m Extension|539|-|-| |250|Ifor Williams flatbed trailer|1,500|-|-| |750|16t wagon|750||| |750|16t wagon|750||| |||**221,717**|**192,107**|**172,355**| ## **Dean Forest Railway Society (CIO) Income & Expenditure** ## For the year ended 31 December 2024 |**Account**|**2024**|**2023**|**2022**| |---|---|---|---| |**Turnover**|||| |Memberships|20,566|14,429|14,111| |Donations|21,444|31,571|64,071| |Raffle|22,278|20,608|24,711| |Hire and Sales|45,650|51,156|52,565| |Gift Aid|4,428|8,666|8,830| |Interest Income|2,564|2,285|99| |Other Revenue|1,620|3,024|0| |**Total Turnover**|**118,550**|**131,740**|**164,386**| |**Cost of Sales**|||| |Processing Fees|475|200|198| |**Total Cost of Sales**|**475**|**200**|**198**| |**Gross Income(Expenditure)**|**118,075**|**131,540**|**164,189**| |**Administrative Costs**|||| |Operating Costs|13,720|10,278|19,419| |Project Funding|1,466|7,043|6,494| |Maintenance|8,800|1,668|6,501| |Restoration|31,088|29,004|45,295| |Other DFR Funding|110|115|8,144| |Equipment|1,412|206|2,028| |Depreciation|14,746|14,370|8,008| |**Total Administrative Costs**|**71,343**|**62,684**|**95,890**| |**Operating Income(Expenditure)**|**46,732**|**68,855**|**68,299**| ||||| |**Retained Earnings**|**46,732**|**68,855**|**68,299**| ## **Income** |**Raffle**|**2024**|**2023**|**2022**| |---|---|---|---| |2020 Xmas Raffle|0|0|0| |2021 Main Raffle|0|0|0| |2021 Santa Raffle|0|0|4,669| |2022 Main Raffle H1|0|0|9,733| |2022 Main Raffle H2|0|0|7,049| |2022 Santa Raffle|0|3,660|3,260| |2023 Main Raffle H1|0|8,784|0| |2023 Main Raffle H2|73|8,163|0| |2023 Santa Raffle|6,447|0|0| |2024 Main Raffle|7,209|0|0| |2024 Main Raffle H2|5,616|0|0| |2024 Santa Raffle|2,933|0|0| |**Total**|**22,278**|**20,608**|**24,711**| |**Donations**|**2024**|**2023**|**2022**| |Monetary Donations|18,373|16,371|29,481| |Donation of shares|71|200|1,290| |Donation of Railway Vehicle|3,000|15,000|28,000| |Grants|0|0|2,300| |Legacies|0|0|3,000| |**Total**|**21,444**|**31,571**|**64,071**| |**Hire and Sales**|**2024**|**2023**|**2022**| |Vehicle Hire|44,195|50,080|48,260| |Book Sales|1,301|214|3,732| |Merchandising|142|594|572| |Event Tickets|0|269|0| |Magazine Sales|13|0|0| |**Total**|**45,650**|**51,156**|**52,565**| |**Other Revenue**|**2024**|**2023**|**2022**| |Filming Income|0|2,880|0| |Scrapped Material|0|144|0| |Share Saver 2023/24|1,620|0|0| |**Total**|**1,620**|**3,024**|**-**| ## **Expenditure** |**Operating Costs**|**2024**|**2023**|**2022**| |---|---|---|---| |Advertising & Marketing|140|456|607| |General Expenses|25|639|191| |Postage, Freight & Courier|1,480|779|5,641| |Printing & Stationery|9,317|3,726|10,520| |Subscriptions|1,393|533|582| |Raffle Prize Money|425|800|850| |Exhibition Stand|45|7|228| |Locomotive Hire|0|0|800| |Filming Expenses|0|1,650|0| |Stock for Refreshment Stand|895|650|0| |Merchandising Recharge|0|1,038|0| |**Total**|**13,720**|**10,278**|**19,419**| |**Project Funding**|**2024**|**2023**|**2022**| |Extension Work|0|0|0| |Long Siding Work|0|0|0| |Lydney Junction Improvement Works|145|72|790| |Parkend Works|0|6,694|5,704| |Wye Valley Project|0|0|0| |Norchard Memorial Garden|125|120|0| |Norchard Improvement Works|1,196|156|0| |**Total**|**1,466**|**7,043**|**6,494**| |**Maintenance**|**2024**|**2023**|**2022**| |Repairs & Maintenance|2,807|1,500|275| |Carriage Maintenance|2,365|23|4,335| |Accommodation Coach Maintenance|3,627|144|1,891| |**Total**|**8,800**|**1,668**|**6,501**| |**Restoration**|**2024**|**2023**|**2022**| |Wagon Restoration|195|0|552| |Carriage Restoration|4,804|14,387|33,660| |Uskmouth Restoration|26,089|14,618|11,084| |**Total**|**31,088**|**29,004**|**45,295**| |**Other DFR Funding**|**2024**|**2023**|**2022**| |Volunteer Training|0|0|1,750| |Whitecroft Cable Repair|0|0|4,046| |Sundry Materials|110|115|1,890| |Woodwork Shop Build|0|0|458| |**Total**|**110**|**115**|**8,144**| Dean FOr￿t Railwa Soci Inde endent Examiners Re ort for the ar ended December 2024 1183538 Confirmation of continued appointment as Independent Examiner received via email. I can confirm that l am a qualified accountant IFCG41 and do not have any related parties in connettion wtth DFRS as descrlbed under Diièction 2 of CC32- Independent examination of charity attounts. Inde endent Examlners Re rt for Dean Forest Railwa Soa I report to the trustees on my exarnination of the atCOLtnts of DFRS for the year ended 31 December 2024. Res onsibilities and basis of re ort As the charity trustees you are responsible for the preparation of the accounts in accordante with the requirements of the Charitles Act 20111.the Act'l. I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrylng out my examination I have followed all the applicable Dtreuions given by the Charity Commission under section 14515llbl of the Act. Inde endent I have completed my examination. I tonlirm that no material matters have come to my attention irt Connedioft with the emamination giving me cause to believe that in any maierial respect= l. accounting records were not kepl in respect ol thè Trust as required by settlon 130 of the Act.. or 2. the accounts do not accord with those records. I have no concefns and have come across no other matters in conneciion with the examination to which attentlon should be drawn in thrs report in order to enable a proper understanding of the accounts to be re¥hed. Addltional note Durin8 the year, the Society continued to invest in its assets. including the acqulsition of a plate grab and au8er for use wlth the road4ail machine. and a sleeper drill for the Permanent Way Department. Slgniflcant pro8ress wa5 made on the hèavy restoration of coach M4862. while LMS Brakevan M732268 returned following an extensive restoration carried out off-site. In addition. ongoint maintenance work across the railway, notably the renewal of Lydney Town Level Crossing, which has enhanced both safety and the 0￿ra11 appearance of the railway. Work Commenced on clearing the yard at Lydney Junction in prépaiation for the development of a new en8ineerinB facility and carrlage storage shed. aimed at impioving the conditions in which the Societrfs asseis are maintained. As part of this pro8ramme, inilial work be8an on the XP64 coach. The restoratioft of Peckett No. 2147 Uskmouth I was succe55fully tomplèted during the yeaf. with the locomotive steamin8 for the first time this century, and attention ha5 now turnèd to thè restoration of Andrew 8arclay No. 2221. These achitvèments were made possible through the generou5 donations of money and the considerable time freely glven bv volunteers. Signed- Name.. Elaine Trinder Relevani professional qualification or rnembership of profèssronal bodies Irf any): Assoctation of Chartered Certified A¢countants Address= 92 Gilpin Avenue, Hucclecote, Gloucester. GL3 3DF Date.. 2211012025