Charity number: 1191151
Romney Hythe and Dymchurch Railway Supporters Association CIO
Unaudited
Trustees' report and financial statements
For the year ended 30 November 2025
Romney Hythe & Dymchurch Railway Supporters Association CIO
Contents
| Page | |
|---|---|
| Reference and administrative details of the Association, its Trustees and advisers | 1 |
| Trustees' report | 2 - 7 |
| Independent examiner's report | 8 - 9 |
| Statement of financial activities | 10 |
| Balance sheet | 11 |
| Notes to the financial statements | 12 - 24 |
Romney Hythe & Dymchurch Railway Supporters Association CIO
Reference and administrative details of the Association, its Trustees and advisers For the year ended 30 November 2025
| Trustees | P Newsome, Chairman (until 14.6.2025) |
|---|---|
| G Johnson, Treasurer (resigned 14 June 2025) | |
| S Haynes, General Secretary | |
| J Bannister | |
| A White, Chairman (from 14.6.2025) | |
| N Whitburn | |
| C Foy, Treasurer (appointed 14 June 2025, resigned 26 March 2026) | |
| D Martin | |
| J Miller (resigned 12 May 2025) | |
| A Tatt | |
| A Plank (appointed 14 June 2025) | |
| Charity registered number 1191151 Principal office Lee Bolton Monier-Williams 1 The Sanctuary London SW1P 3JT Accountants Kreston Reeves LLP Suite 2 Orchard House Orchard Street Canterbury Kent CT2 8AR Independent Examiner Samantha Rouse FCCA DChA Kreston Reeves LLP Suite 2 Orchard House Orchard Street Canterbury Kent CT2 8AR |
Page 1
Romney Hythe & Dymchurch Railway Supporters Association CIO
Trustees' report For the year ended 30 November 2025
The Trustees present their annual report together with the financial statements of the Romney Hythe and Dymchurch Railway Supporters Association CIO (“Association”) for the period 1 December 2024 to 30 November 2025.
Objectives and activities
a. Policies and objectives
The principal objects of the Association are to preserve and maintain the historic miniature trains and associated elements on the Romney, Hythe and Dymchurch Railway (the Railway) for the benefit and education of the public, in particular, but not exclusively by the provision of a heritage centre as well as financial and human resources.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Activities undertaken to achieve objectives
Trustees work closely with the RH&DR. The cooperation works on a series of levels. Requests received from the Railway are considered on their merits for the making of grants.
At another level this has involved the support given for successful shared and individual events to the benefit of the public, the Association members, and the Railway.
The two organisations are always mindful of the need to maintain separation between the Railway’s operational matters and the Association’s charitable object. Given that the Association does not run the railway the Trustees see this as essential to ensure that the Association at all times continues to meet its charitable objectives as set out above. The matters under discussion included the funding of locomotive overhauls, track replacement, and a replica WW II armoured wagon to be built in time for the Railway’s centenary in 2027.
Rail replacement (with an expected life of 60 years) has been funded through a grant of £129,000. This is a change in our previous level of support from 50% to 100% due to the highly challenging financial environment the Railway is facing. Overhaul of loco No. 7 Typhoon in has been further supported through staged grant payments of £60,000. This will bring the level of support for this overhaul to a total of £190,000. Additionally, the Association has committed to the full costs of maintaining the exterior of the Heritage Centre at New Romney. Further financial support has been put in place to deliver a series of projects to celebrate the Railway centenary in 2027.
Education and Heritage
We were pleased to be awarded a grant from the National Archives for the production of a “Scoping Report” on the archive items held by the Association. We were thus able to contract a consultant – Nicola Waddington (Archives Alive) – to produce the report which assessed what we hold, how it is stored and what we need to do so that items are properly recorded and indexed. The report was delivered in November.
A Heritage Tour of the New Romney to Dungeness portion of the line was run on June 28th and was again a sell out and successful event. The new format of A5 booklet full of photographs was again produced for attendees.
A temporary exhibition with Rail200 branding was installed in the Heritage Centre. It ‘s theme marked 2025 being the centenary of “Green Goddess” and “Northern Chief”.
We took part in the Heritage Open Days programme during September. On the weekend of 13th/14th September an exhibition was run in the hall at Hythe. This was done at short notice and advertising both by the railway and the local Heritage Open Days group was limited, so numbers attending weren’t great. The 2026 event will be better promoted. It will be a show of historic films, both amateur and professional, held in the archive.
Page 2
Romney Hythe & Dymchurch Railway Supporters Association CIO
Trustees' report (continued) For the year ended 30 November 2025
Objectives and activities (continued)
A programme of surveys was conducted by Association volunteers during October in which visitors to the Heritage Centre were asked their opinions of the facility and suggest improvements. The results of the survey have been shared with the railway and more should be done in 2026.
This was a quiet year for visits to outside bodies with only one invitation to the Bexhill Museum Group to give a talk on the history of the railway.
Membership Services
The Association’s membership continues to go from strength to strength, increasing by 296 from 3462 to 3758 during our financial year. This was a creditable result in hard economic times, reflecting the valuable membership benefits offered by the association. This coming year we will be exploring ways of containing operational costs, however, bearing in mind that we have been operating in an inflationary economy where prices for almost everything have been rising. There will be a review of the membership categories in 2026 to simplify the offers made, in being more consistent in the family discount offered and where appropriate, to bring the categories more in line with the new railway fares model.
The Association’s quarterly magazine continues to be offered in hard copy, or pdf version emailed to members. From a low base, members taking up the pdf option has steadied at around 34%. This represents a considerable saving on print and postage for the Association. The Membership area of operations continues to run satisfactorily with an exceptionally low number of complaints and a high level of service being provided.
Marketing, Fundraising and Events
The Supporters Association Facebook page now has 861 followers. TikTok has gained 1,556 followers and 22.5 thousand likes, proving an effective engagement tool. This engagement across all platforms has been very evident as follow-ups around events and merchandise sales. The highlight of social media in 2025 was the April fools post – “The RH&DR are submitting a bid to operate a cross channel service to rival Eurostar”. This post was very well received, 6.5k likes, 544 comments, 518 shares and even a highlight in the local paper!
December was the last chance for the sale of our 2025 Heritage Calendars. Although we sold through most of the stock, it was decided to not create a Heritage Calendar for 2026 due to the minimal return for large effort. Our 2025 Christmas cards sales just about broke even. Again, they were launched at the Autumn gala and were subsequently sold through our membership system. A profit of £202.18 came from the Christmas cards so the decision was taken to roll over the 250 packs (from the ordered 400) to the Christmas 2026 offering.
2025 was a year of celebration – 200 years of railways in the UK. On 1st January, we highlighted the RH&DR’s salute to the opening of the year long event across the country – a whistle-off at Dungeness which drew a large crowd.
The first Young Enthusiasts Day was held across the February half term. It was a very successful event and the feedback from children and parents was highly positive. The Association's Special Train was held on 26th April. The headboard from the event raised £400 at auction. Spring Gala on 10/11th May was well attended as was the Autumn Gala on 18/19th October. Many merchandise sales were made along with some historical items donated to us. Shed tours were available for a £10 donation which was very popular over the Autumn Gala weekend.
The Supporters Association Heritage Tour was on 28th June. It was a sold out event and included a guided tour of New Romney station after a trip up to Dungeness and back. The sale of the headboard from the event raised £660.
We revamped our Legacies leaflet and distributed the leaflet throughout the railway’s shops and posted them on our website.
Page 3
Romney Hythe & Dymchurch Railway Supporters Association CIO
Trustees' report (continued) For the year ended 30 November 2025
Objectives and activities (continued)
Finance, Liaison and Compliance
The FLC was very active in the financial year 1 December 2024 to 30 November 2025, its tasks being a mixture of ongoing projects and documenting the work of the Association in relation to the overhaul of Typhoon and the track renewal programme referred to elsewhere in this report. The FLC put into place a revised agreement for the funding of the additional £60,000 of work needed to complete the overhaul of Typhoon, as well as the £129,000 grant that has paid for the entire Winter 2026 track renewal programme. Both these matters had been under discussion when the current financial ended although they came to fruition in the fiscal year commencing on 1 December 2025.
Another important piece of “compliance” activity was the formulation of a cash and credit card handling policy, recognising the increased amount of retail activity that the Association is now undertaking.
The extent of these grants and the need to have funds in hand delayed a further review of the Association’s investment policy but at the time of writing, that review is under way.
The Treasurer function has again taken up substantial FLC time. The transition of the role to Chris Foy underscored the challenges inherent in discharging this essential function on an entirely voluntary basis. Pat Newsome has therefore led a project through which Kreston Reeves will be delivering training on the more effective use of the Xero accounting function. Kreston Reeves will also assist in the reconciliation of account balances, and the development of further nominal ledgers which should in turn assist with the annual budgeting process and streamline the Treasurer’s day to day workload.
Chris Foy made good progress with the Association’s payment processes before other commitments led to his resignation as Treasurer early in 2026. The Association is grateful for Chris’ work and sorry to see him go. As of today, the Treasurer position is in consequence vacant and the Treasurer’s work has been divided between FLC members, very ably supported by Kevin Irwin as deputy Treasurer. This does mean, however, that we are looking for a new Treasurer. Any member who would like to be considered for this important role should contact Andrew White or Joe Bannister as FLC Chair.
Page 4
Romney Hythe & Dymchurch Railway Supporters Association CIO
Trustees' report (continued) For the year ended 30 November 2025
Achievements and performance
a. Investment policy and performance
It was previously agreed to have a liquidity amount of £180k available to fund the Association’s day to day operations, leaving a balance to invest. The balance with CCLA as at the end of the financial year was £390k, which is a creditable return on our investment. Regarding the investment return, funds are currently all in a bond deposit account which may carry some interest return risk in the febrile political and financial environment, so a proposal to diversify was about to be put forward. This was to put some of the Association money into an equity and bonds based fund, and some into a straight cash deposit investment account. However, in the unstable economic climate, trustees agreed to leave things as they were for the present but to keep the situation under frequent review. All CCLA funds are 24 hour dealing accounts so they are available at short notice if required. The Association is also carrying £127k remaining from a £200k legacy in a Lloyds business account. This forms part of the investment discussions which trustees will be having in 2026.
Page 5
Romney Hythe & Dymchurch Railway Supporters Association CIO
Trustees' report (continued) For the year ended 30 November 2025
Financial review
a. Review of the year
Income has decreased from £304,415 in 2024 to £124,062 in 2025, primarily due to the Association having received a substantial legacy in the 2024 year end and no substantial legacies in 2025. Expenditure has increased from £133,919 in 2024 to £138,361 in 2025. The Association had net gains on investments of £22,112 for the year, compared to a gain of £24,839 in 2024. This has resulted in a net surplus of £7,812 (2024: surplus of £190,651).
b. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Association has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
c. Reserves policy
Except where funds are being retained, any surplus is available for application towards the objects of the Association. This may take the form of providing support for the railway towards the cost of specific projects to be agreed between the Trustees and the Railways' board of directors and as more particularly referred to in this report.
Reserves are held as either Restricted or Unrestricted Funds. Restricted Funds are funds that have been received for specific projects and can only be used for those purposes, as at 30 November 2025 Restricted Funds held by the association totalled £58,667. Unrestricted Funds can be used for any purpose providing that it is within the objects of the Charity. Unrestricted Funds totalled £845,470 as at 30 November 2025.
Structure, governance and management
a. Constitution
The Romney Hythe and Dymchurch Railway Supporters Association CIO is a registered charity, number 1191151. The Association was registered as a CIO registered with the Charity Commission of England and Wales on 4 September 2020 and re-registered with effect from 10th June 2023 to include the addition of “Supporters” in its name. The Association changed its name to to Romney Hythe and Dymchurch Railway Supporters Association CIO, by resolution of the members passed at the AGM held on the 10th June 2023. The Association is governed by its Constitution which, aside from the change in name referred to above, remains unaltered.
b. Methods of appointment or election of Trustees
The management of the Association is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
Page 6
Romney Hythe & Dymchurch Railway Supporters Association CIO
Trustees' report (continued) For the year ended 30 November 2025
Structure, governance and management (continued)
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Association and of its incoming resources and application of resources, these include the Associations its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Association will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Association's transactions and disclose with reasonable accuracy at any time the financial position of the Association and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Association and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
A White Chairman Date: 19 May 2026
Page 7
Romney Hythe & Dymchurch Railway Supporters Association CIO
Independent examiner's report For the year ended 30 November 2025
Independent examiner's report to the Trustees of Romney Hythe & Dymchurch Railway Supporters Association CIO ('the Association')
I report to the charity Trustees on my examination of the accounts of the Association for the year ended 30 November 2025.
Responsibilities and basis of report
As the Trustees of the Association you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Association's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the Association has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2019.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Association as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Page 8
Romney Hythe & Dymchurch Railway Supporters Association CIO
Independent examiner's report (continued) For the year ended 30 November 2025
This report is made solely to the Association's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Association's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Association and the Association's Trustees as a body, for my work or for this report.
Signed: Dated: 19 May 2026
Samantha Rouse FCCA DChA
Kreston Reeves LLP
Suite 2 Orchard House Orchard Street Canterbury Kent CT2 8AR
Page 9
Romney Hythe & Dymchurch Railway Supporters Association CIO
Statement of financial activities For the year ended 30 November 2025
| Note Income from: Subscriptions, donations and legacies 3 Other trading activities 4 Investments Other income 5 Total income Expenditure on: Raising funds 6 Charitable activities 7 Total expenditure Net income/(expenditure) before net gains on investments Net gains on investments Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Restricted funds 2025 £ 15,339 - - - 15,339 - - - 15,339 - 15,339 43,328 15,339 58,667 |
Unrestricted funds 2025 £ 91,227 12,457 1,593 3,445 108,722 3,458 134,903 138,361 (29,639) 22,112 (7,527) 852,997 (7,527) 845,470 |
Total funds 2025 £ 106,565 12,457 1,593 3,445 124,061 3,458 134,903 138,361 (14,300) 22,112 7,812 896,325 7,812 904,137 |
Total funds 2024 £ 282,979 11,344 - 10,092 |
|---|---|---|---|---|
| 304,415 | ||||
| 4,684 133,919 |
||||
| 138,603 | ||||
| 165,812 24,839 |
||||
| 190,651 | ||||
| 705,674 190,651 |
||||
| 896,325 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 12 to 24 form part of these financial statements.
Page 10
Romney Hythe & Dymchurch Railway Supporters Association CIO
Balance sheet As at 30 November 2025
| Note Fixed assets Tangible assets 11 Investments 12 Current assets Stocks Debtors 13 Cash at bank and in hand Current liabilities Creditors: amounts falling due within one year 14 Net current assets Total assets less current liabilities Total net assets Charity funds Restricted funds 15 Unrestricted funds 15 Total funds |
2,571 - 382,052 384,623 (9,175) |
2025 £ 15 528,674 528,689 375,448 904,137 904,137 58,667 845,470 904,137 |
888 200,000 255,586 456,474 (68,351) |
2024 £ 1,640 506,562 |
|---|---|---|---|---|
| 508,202 388,123 |
||||
| 896,325 | ||||
| 896,325 | ||||
| 43,328 852,997 |
||||
| 896,325 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
A White Chairman Date: 19 May 2026
The notes on pages 12 to 24 form part of these financial statements.
Page 11
Romney Hythe & Dymchurch Railway Supporters Association CIO
Notes to the financial statements For the year ended 30 November 2025
1. General information
Romney Hythe and Dymchurch Railway Supporters Association CIO is a charitable incorporated organisation incorporated in England and Wales with the charity number 1191151. The registered office is Lee Bolton Monier-Williams, 1 The Sanctuary, London, SW1P 3JT. The principal activities of the Association are to preserve and maintain the historic miniature trains and associated elements on the Romney, Hythe and Dymchurch Railway for the benefit and education of the public, in particular, but not exclusively by the provision of a heritage centre as well as financial and human resources.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Romney Hythe and Dymchurch Railway Supporters Association CIO meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The financial statements are prepared in Pounds Sterling and are rounded to the nearest pound.
2.2 Going concern
The Trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Association to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the Association has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the Association's ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Page 12
Romney Hythe & Dymchurch Railway Supporters Association CIO
Notes to the financial statements For the year ended 30 November 2025
2. Accounting policies (continued)
2.3 Income
All income is recognised once the Association is entitled to recognise that income, it is probable that the income will be received and the amount of income receivable can be measured reliably onwards.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Association has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Association, can be reliably measured onwards.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
Page 13
Romney Hythe & Dymchurch Railway Supporters Association CIO
Notes to the financial statements For the year ended 30 November 2025
2. Accounting policies (continued)
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on raising funds includes all expenditure incurred by the Association to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Association's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.5 Tangible fixed assets and depreciation
Tangible fixed assets costing £250 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
| Four-wheel coach | - | 25% |
|---|---|---|
| Office equipment | - | 25% |
| Storage container | - | 25% |
2.6 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.
Investments held as fixed assets are shown at cost less provision for impairment.
2.7 Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Page 14
Romney Hythe & Dymchurch Railway Supporters Association CIO
Notes to the financial statements For the year ended 30 November 2025
2. Accounting policies (continued)
2.8 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.9 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.10 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Association anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
2.11 Financial instruments
The Association only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.12 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Association and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Association for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
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Romney Hythe & Dymchurch Railway Supporters Association CIO
Notes to the financial statements For the year ended 30 November 2025
3. Income from donations and legacies
| Subscriptions Donations Legacies Grants Total 2024 |
Restricted funds 2025 Unrestricted funds 2025 £ £ - 76,084 - 8,035 - 7,108 15,339 - 15,339 91,227 - 282,979 |
Total funds 2025 £ 76,084 8,035 7,108 15,339 106,566 282,979 |
Total funds 2024 £ 71,314 11,665 200,000 - |
|---|---|---|---|
| 282,979 | |||
4. Income from other trading activities
Income from fundraising events
| Unrestricted funds 2025 £ Special trains and events 4,222 200 club 8,235 12,457 Total 2024 11,344 |
Total funds 2025 £ 4,222 8,235 12,457 11,344 |
Total funds 2024 £ 2,650 8,694 |
|---|---|---|
| 11,344 | ||
Page 16
Romney Hythe & Dymchurch Railway Supporters Association CIO
Notes to the financial statements For the year ended 30 November 2025
5. Other incoming resources
| Miscellaneous income Marketing income Total 2024 |
Unrestricted funds 2025 £ 980 2,465 3,445 10,092 |
Total funds 2025 £ 980 2,465 3,445 10,092 |
Total funds 2024 £ 640 9,452 |
|---|---|---|---|
| 10,092 | |||
6. Expenditure on raising funds
Fundraising trading expenses
| Unrestricted funds 2025 £ Cost of goods sold 2,031 Fundraising expenses 1,427 3,458 Total 2024 4,684 |
Total funds 2025 £ 2,031 1,427 3,458 4,684 |
Total funds 2024 £ 3,386 1,298 |
|---|---|---|
| 4,684 | ||
Page 17
Romney Hythe & Dymchurch Railway Supporters Association CIO
Notes to the financial statements For the year ended 30 November 2025
7. Analysis of expenditure on charitable activities
Summary by fund type
| Unrestricted funds 2025 £ Resources expended 134,903 Total 2024 133,919 |
Total 2025 £ 134,903 133,919 |
Total 2024 £ 133,919 |
|---|---|---|
8. Analysis of expenditure by activities
| Resources expended Total 2024 |
Benefits to members 2025 £ 40,023 52,641 |
Payments to Romney, Hythe & Dymchurch Railway 2025 £ 94,880 81,278 |
Total funds 2025 £ 134,903 133,919 |
Total funds 2024 £ 133,919 |
|---|---|---|---|---|
Analysis of direct costs
Page 18
Romney Hythe & Dymchurch Railway Supporters Association CIO
Notes to the financial statements For the year ended 30 November 2025
8. Analysis of expenditure by activities (continued)
Analysis of direct costs (continued)
| General administration Magazine printing Postage and expenses Bank and credit card charges Subscriptions Heritage group Depreciation Professional fees Marketing Sundry expenses Membership cards Independent examiner's fee Analysis of support costs Track renewals Loco overhauls Independent examiner's remuneration Fees payable to the Association's independent examiner for the independent examination of the Association's annual accounts |
Total funds 2025 £ 2,022 11,439 6,217 - 206 - 1,625 1,201 639 169 13,655 2,850 40,023 Total funds 2025 £ 43,050 51,830 94,880 2025 £ 2,850 |
Total funds 2024 £ 8,096 15,152 7,620 53 331 409 1,625 333 3,246 196 13,060 2,520 |
|---|---|---|
| 52,641 | ||
| Total funds 2024 £ 55,000 26,278 |
||
| 81,278 | ||
| 2024 £ 2,520 |
9. Independent examiner's remuneration
Fees payable to the Association's independent examiner for the independent examination of the Association's annual accounts
Page 19
Romney Hythe & Dymchurch Railway Supporters Association CIO
Notes to the financial statements For the year ended 30 November 2025
10. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2024 - £NIL).
During the year ended 30 November 2025, expenses were reimbursed for five trustees coming to a total of £1,648 (2024 - £2,544). Of the £1,648 reimbursed, £Nil was left owing to a trustee at the year end.
11. Tangible fixed assets
| Cost or valuation At 1 December 2024 At 30 November 2025 Depreciation At 1 December 2024 Charge for the year At 30 November 2025 Net book value At 30 November 2025 At 30 November 2024 |
Share medallion £ 15 15 - - - 15 15 |
Four-wheel coach £ 6,500 6,500 4,875 1,625 6,500 - 1,625 |
Office equipment £ 5,406 5,406 5,406 - 5,406 - - |
Storage container £ 3,360 3,360 3,360 - 3,360 - - |
Total £ 15,281 |
|---|---|---|---|---|---|
| 15,281 | |||||
| 13,641 1,625 |
|||||
| 15,266 | |||||
| 15 | |||||
| 1,640 |
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Romney Hythe & Dymchurch Railway Supporters Association CIO
Notes to the financial statements For the year ended 30 November 2025
12. Fixed asset investments
| R H D R CBS shares £ Cost or valuation At 1 December 2024 137,621 Revaluations - At 30 November 2025 137,621 Net book value At 30 November 2025 137,621 At 30 November 2024 137,621 |
R H D R Light Railway Company £ 250 - 250 250 250 |
Other investments £ 368,691 22,112 390,803 390,803 368,691 |
Total £ 506,562 22,112 |
|---|---|---|---|
| 528,674 | |||
| 528,674 | |||
| 506,562 |
The Association is currently the largest shareholder in the railway holding company (R H D R CBS) with 15.19% of the Company's issued share capital.
The holding of shares in the R H D R Light Railway Company represent the minimum holding required for directors of that company. These shares were acquired in order to allow the Association to be represented on the Railway's board of directors. It is understood that the only prospective purchaser for these shares would be a prospective director and that the shares would be sold at par.
During 2012, £200,000 was invested in a CCLA COIF Fixed Interest Investment Fund and a further £60,000 was invested during 2014 by the predecessor charity, which was then transferred to the CIO on iincorporation. On 30th November 2025, the Fund Managers valued the total investment at £390,803 including accumulated interest. The increase in value of £22,112 has been carried to an Investment Revaluation Account. Any accumulated increase in value will be shown in the General Fund when this investment is liquidated.
13. Debtors
| Due within one year Prepayments and accrued income |
2025 £ - - |
2024 £ 200,000 200,000 |
|---|---|---|
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Romney Hythe & Dymchurch Railway Supporters Association CIO
Notes to the financial statements For the year ended 30 November 2025
14. Creditors: Amounts falling due within one year
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Accruals and deferred income | 9,175 | 68,351 |
15. Statement of funds
Statement of funds - current year
| Unrestricted funds General fund Investment revaluation account Restricted funds Black Prince overhaul fund Special Project fund Loco Overhauls fund Armoured wagon fund Total of funds |
Balance at 1 December 2024 £ 607,891 245,106 852,997 10 18,318 25,000 - 43,328 896,325 |
Income £ 108,722 - 108,722 - - - 15,339 15,339 124,061 |
Expenditure £ (138,361) - (138,361) - - - - - (138,361) |
Gains/ (Losses) £ - 22,112 22,112 - - - - - 22,112 |
Balance at 30 November 2025 £ 578,252 267,218 |
|---|---|---|---|---|---|
| 845,470 | |||||
| 10 18,318 25,000 15,339 |
|||||
| 58,667 | |||||
| 904,137 |
Black Prince overhaul fund - The balance of funds donated for the overhaul of Black Prince
Special Project fund - The Special Project Fund represents money donated by members to be passed to the Railway company to assist with the cost of major repair projects agreed between the Trustees and the company's directors. No payments were made during 2025. The balance is being carried forward.
Loco Overhauls fund - Amounts donated for the Overhaul of the steam locomotives owned by the railway.
Armoured Wagon Fund - Amounts donated for the renovation of the armoured wagon.
Page 22
Romney Hythe & Dymchurch Railway Supporters Association CIO
Notes to the financial statements For the year ended 30 November 2025
15. Statement of funds (continued)
Statement of funds - prior year
| Unrestricted funds General fund Investment revaluation account Restricted funds Black Prince overhaul fund Special Project fund Loco Overhauls fund Total of funds |
Balance at 1 December 2023 £ 442,079 220,267 662,346 10 18,318 25,000 43,328 705,674 |
Income £ 304,415 - 304,415 - - - - 304,415 |
Expenditure £ (138,603) - (138,603) - - - - (138,603) |
Gains/ (Losses) £ - 24,839 24,839 - - - - 24,839 |
Balance at 30 November 2024 £ 607,891 245,106 |
|---|---|---|---|---|---|
| 852,997 | |||||
| 10 18,318 25,000 |
|||||
| 43,328 | |||||
| 896,325 |
Page 23
Romney Hythe & Dymchurch Railway Supporters Association CIO
Notes to the financial statements For the year ended 30 November 2025
16. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Total |
Restricted funds 2025 Unrestricted funds 2025 £ £ - 15 - 528,674 58,667 325,956 - (9,175) 58,667 845,470 |
Total funds 2025 £ 15 528,674 384,623 (9,175) 904,137 |
|---|---|---|
Analysis of net assets between funds - prior year
| Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Total |
Restricted funds 2024 £ - - 43,328 - 43,328 |
Unrestricted funds 2024 £ 1,640 506,562 413,146 (68,351) 852,997 |
Total funds 2024 £ 1,640 506,562 456,474 (68,351) 896,325 |
|---|---|---|---|
17. Related party transactions
The Romney Hythe and Dymchurch Railway Supperters Association CIO has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Romney Hythe and Dymchurch Railway Supperters Association CIO at 30 November 2025.
The Association is a separate legal entity from the Railway, although three Association trustees, Simon Haynes, Danny Martin and Joe Bannister are also members of the Railway’s Board of Directors. However, the Association does not play any part in the day to day management of the Railway. As is explained in section b of the Trustee’s report on page 3, the Association and the Railway work together to ensure that they each use their respective resources best to meet their charitable objectives and in doing so support the Railway. Part of that support has and continues to be the funding of locomotive overhauls. In the course of 2023, the Trustees resolved, after review of the actual and anticipated financial position of the Association to fund the full amount of the overhaul of Locomotive No 7 Typhoon through staged payments. That overhaul is being carried out at the Vale of Rheidol Railway works. The amount of payments made in the year ended 30 November 2025 amounted to £51,830.
Page 24