Charity registration number: 1201052
National Railway Heritage Awards
(a Charitable Incorporated Organisation)
Annual Report and Financial Statements
for the period from 17 November 2022 to 31 March 2024
MMO Limited Wellesley House 204 London Road Waterlooville Hampshire PO7 7AN
National Railway Heritage Awards
Charitable Incorporated Organisation number 1201052
| Contents | |
|---|---|
| Reference and Administrative Details | 1 |
| Trustees' Report | 2 to 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 to 12 |
National Railway Heritage Awards
Charitable Incorporated Organisation number 1201052
Reference and Administrative Details
Charity Name: National Railway Heritage Awards Trust Registration Number: 1201052 Principal Address: Howardian View, (Secretary) Great Barugh Malton North Yorkshire YO17 6UZ Trustees: Mr A J Savage MBE Chairman Mr J Swift Secretary Mr C Baker Chairman of Judges Mr R Hayward Awards Manager Mr G Johns Chairman of Adjudicators Ms V Stretch Archivist Mr S M Oates Heritage Railway Association nominee Mr M Wood Awards Manager Mr T Hedley-Jones MVO Sponsorship Manager Committee Members: Mr P Waller Public Relations Officer Ms Lizanne McCloud Treasurer Judges: There were 48 experienced judges under the chairmanship of Clive Baker. Adjudicators: There were 8 highly qualified adjudicators under the chairmanship of Gavin Johns Bankers: CAF Bank Limited 25 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4JQ Savings Accounts: CAF Bank Limited Governing Document: Constitution dated 17[th] November 2022 Trustee selection method: Appointed by existing Trustees Independent Examiners: MMO Limited, Wellesley House, 204 London Road, Waterlooville, PO7 7AN
Page 1
National Railway Heritage Awards
Charitable Incorporated Organisation number 1201052
Trustees' Report
The trustees present the annual report together with the financial statements and independent examiner's report of the charitable incorporated organisation for the period ended 31 March 2024. The trustees have adopted the provisions of 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).
Introduction
This is the first annual report of the Trustees of the Charitable Incorporated Organisation (Foundation), National Railway Heritage Awards, charity number 1201052.
The assets of the former charity National Railway Heritage Awards 1107792 were transferred on 13[th] November 2023.
Objects and main activities:
The objects of the CIO are defined in the Constitution that states:
The objects of the CIO are:
-
i. The preservation of the buildings and infrastructure of the national railway networks of Great Britain and Ireland, past and present, whether for transport or other purposes, and for the continued benefit of the public by holding an annual award competition to recognise and encourage best practice; and
-
ii. The advancement of the education of the public in railway preservation and railway heritage, in particular but not exclusively by the establishment and maintenance of an archive of the national railway heritage awards
To fulfil these aims, the Trust administers an annual competition known as the National Railway Heritage Awards to encourage highest possible standards in the restoration, conservation and regeneration of the historic railway buildings and infrastructure of Great Britain and Ireland, for the future benefit of the public.
Wherever possible, the specialist advisers to the Awards together with the Awards sponsors will provide advice and expertise to architects, contractors and sub-contractors before projects reach site. In particular, one of the Awards sponsors, the Railway Heritage Trust (RHT), has been able to influence decisions both by its inherent experience and knowledge, assisted by its own grant making process.
Organisational Structure
The Trustees, who act in a voluntary capacity, are assisted in the administration of the Awards by a small number of volunteers. Both trustees and other volunteers are professionals, generally retired from the rail industry, either from national organisations or the heritage railway movement. The present Trustees are detailed on page 1 of the financial statements.
Review of Financial Position
As mentioned in November 2023 a resolution was passed to transfer assets and reserves from Charity NRHA 1107792 to the Charitable Incorporated Organisation, National Railway Heritage Awards, charity number 1201052.
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National Railway Heritage Awards
Charitable Incorporated Organisation number 1201052
Trustees' Report
Sponsorship funds of £36,000 designated for the 2023 - 2024 annual awards were paid before the CIO was ready to receive funds and in consequence were paid into the charity 1107792.
Further sponsorship and donations for the CIO financial year 2023 - 2024 totalled £37,155. When combined with the sponsorship received into 1107792, it comfortably covered the charity's operating costs.
For the financial year of 2023 - 2024 the CIO had a deficit of (£13,268) because of the funds received into 1107792 and subsequently transferred. The deficit was allocated against reserves in accordance with the Trustees’ reserves planning policy.
The Trustees offer their sincere thanks to all our sponsors and supporters for their continued interest and generous assistance, without which the work of the Awards could not continue.
Review of Activities
The 2023 Awards Ceremony was again held at the Merchant Taylor’s Hall, with a live broadcast which was subsequently made available as an online stream.
There were 50 entries this year. They ranged in size and scope and were judged for the competition for the 11 award categories.
The entries included two turntables, two signal box restorations, restoration of the water tank at Didcot Railway Museum and at Frinton on Sea, the station canopy. Smaller but equally important is a host of restoration schemes; these included two for station clocks, a therapy centre in restored platform buildings at Ladybank, wall mounted rails and a Paxton canopy at London’s Paddington Station.
Edinburgh provided three schemes. The redevelopment of Granton Gasworks Station, a long derelict private station, into a function/office space, and The Engine Yard, a scheme creating residential units within the former Shrubhill tramway depot buildings off Leith Walk and the nearby Pilrig Muddle wheels, a project to conserve and put on public display a unique survivor of Edinburgh’s Victorian cable-operated tram system.
Six viaduct schemes featured including Stirling’s Forth Viaduct and the iconic Border Bridge at Berwick-upon-Tweed. Two elevated garden schemes, the Randalstown Viaduct (NI) by Tidy Randalstown, and the National Trust’s Reimagining Castlefield Viaduct that temporarily uses a section of the disused railway viaduct in central Manchester were included.
Community based station schemes at Eynsford, Hollingbourne, Okehampton and Shawford that provide new uses for redundant buildings on operational stations. Aberdeen Concourse and Morpeth Canopy are the culmination of ongoing projects or, as at Peckham Rye, form a vital part to the eventual total station scheme. This was also the case in bringing-back into use of the redundant Findlater’s Corner arches under the railway at London Bridge. Total regeneration was a feature of the renovation of Folkestone Harbour Station. At Cullybackey (NI) and Rowden Mill Station both now provide holiday accommodation; one situated next to an operational railway and the other on a long-closed line.
The Guest of Honour was Bill Reeve, Director of Rail Transport Scotland who made the presentations.
It is a condition of entry to the Awards Scheme that the successful entrants hold a ceremony to unveil the award plaque, usually on or near the winning structure. This serves not only as publicity for the Awards Scheme, but for the winning organisation and contractors where applicable.
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National Railway Heritage Awards
Charitable Incorporated Organisation number 1201052
Trustees' Report
We have reported regularly on our work to provide archive pages within our website. This year we are pleased to report that thanks to Network Rail’s Archivist, Vicky Stretch, now a Trustee, real progress is now being made to overhaul and present our archive in a way that makes the material readily available. We have licensed Preservica, a professional archival tool, to facilitate this work.
Investment and Reserves Policy
The Trustees continue to ensure reserves are maintained in line with our policy.
Risk Management
The Trustees have reviewed the major risks to which the Awards may be exposed for each financial year, and systems are in place to mitigate such risks. The Trustees consider the main risk to be a reduction of income from sponsors, and accordingly the charity maintains sufficient cash reserves to give time for mitigating action in this eventuality.
Serious Incidents
There were no serious incidents during the financial year.
Trustees’ Responsibilities for the Financial Statements
The Charity’s Trustees are responsible for preparing financial statements for each financial year, which give a true and fair view of the charity’s incoming resources, its application of those resources during the year and its financial position at the end of the year. In preparing those financial statements the Trustees are required to:
Select a suitable accounting policy and see that it is applied consistently, and
Make judgements and estimates that are reasonable and prudent.
The Trustees are satisfied that the financial statements comply with these requirements.
Jeremy Swift Andy Savage Secretary and Trustee Chairman and Trustee
Page 4
National Railway Heritage Awards
Charitable Incorporated Organisation number 1201052
Independent Examiner's Report to the trustees of National
Railway Heritage Awards
I report to the charity trustees on my examination of the accounts of the charity for the period ended 31 March 2024.
Responsibilities and basis of report
As the charity’s 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 charity’s accounts carried out under section 145 of the 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 matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of National Railway Heritage Awards as required by section 130 of the Act; or
-
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.
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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.
...................................... Gillian McIntosh
Wellesley House 204 London Road Waterlooville Hampshire PO7 7AN
Date:.............................
Page 5
National Railway Heritage Awards
Charitable Incorporated Organisation number 1201052
Statement of Financial Activities for the Period from 17 November 2022 to 31 March 2024
| Unrestricted Total |
|
|---|---|
| funds 2024 |
|
| Note | £ £ |
| Income and Endowments from: | |
| Charitable activities 2 |
36,800 36,800 |
| Investment income 3 |
1,719 1,719 |
| Other income | 355 355 |
| Total income | |
| 38,874 38,874 |
|
| Expenditure on: | |
| Charitable activities 4 |
(52,142) (52,142) |
| Total expenditure | |
| (52,142) (52,142) |
|
| Net expenditure | |
| (13,268) (13,268) |
|
| Transfer from National RailwayHeritage Awards Trust | 174,679 174,679 |
| Net movement in funds | |
| 161,411 161,411 |
|
| Reconciliation of funds | |
| Total funds carried forward 9 |
|
| 161,411 161,411 |
All of the charity's activities derive from continuing operations during the above period.
The notes on pages 8 to 12 form an integral part of these financial statements. Page 6
National Railway Heritage Awards
Charitable Incorporated Organisation number 1201052
Balance Sheet as at 31 March 2024
| 2024 | |
|---|---|
| Note | £ |
| Current assets | |
| Cash at bank and in hand | 175,376 |
| Creditors: Amounts falling due within oneyear 8 |
|
| (13,965) | |
| Net assets | |
| 161,411 | |
| Funds of the charity: | |
| Unrestricted income funds | |
| Unrestricted funds | 161,411 |
| Total funds 9 |
|
| 161,411 |
The financial statements on pages 5 to 11 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:
......................................... Mr J Swift Trustee
......................................... Mr Andrew John Savage Trustee
The notes on pages 8 to 12 form an integral part of these financial statements. Page 7
National Railway Heritage Awards
Charitable Incorporated Organisation number 1201052
Notes to the Financial Statements for the Period from 17 November 2022 to 31 March 2024
1 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
National Railway Heritage Awards 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 notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Exemption from preparing a cash flow statement
The charity has taken advantage of the disclosure exemption in the Charities SORP which allows for smaller charities not to prepare a cash flow statement.
Income and endowments
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably,
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
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National Railway Heritage Awards
Charitable Incorporated Organisation number 1201052
Notes to the Financial Statements for the Period from 17 November 2022 to 31 March 2024
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Taxation
The charity is exempt from tax on its charitable activities.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees’ discretion in furtherance of the objectives of the charity.
2 Income from charitable activities
| 2 | Income from charitable activities | ||
|---|---|---|---|
| Unrestricted | |||
| funds | Total | ||
| General | funds | ||
| £ | £ | ||
| Preservation of national railwaynetworks | 36,800 | 36,800 | |
| Total forperiod ended 31 March 2024 | 36,800 | 36,800 | |
| 3 | Investment income |
| 3 Investment income |
|||
|---|---|---|---|
| Unrestricted | |||
| funds | Total | ||
| General | funds | ||
| £ | £ | ||
| Interest receivable and similar income; | |||
| Interest receivable on bank deposits | 1,719 | 1,719 | |
| Total for period ended 31 March 2024 | 1,719 | 1,719 |
Page 9
National Railway Heritage Awards
Charitable Incorporated Organisation number 1201052
Notes to the Financial Statements for the Period from 17 November 2022 to 31 March 2024
- 4 Expenditure on charitable activities
| 4 Expenditure on charitable activities |
|
|---|---|
| Activity undertaken Activity support |
|
| directly costs 2024 |
|
£ £ £ |
|
| Preservation of national railway networks | 41,189 10,693 52,142 |
In addition to the expenditure analysed above, there are also governance costs of £1,075 which relate directly to charitable activities. See note 5 for further details.
5 Analysis of governance and support costs
Governance costs
| Governance costs | |||
|---|---|---|---|
| Unrestricted | |||
| funds | Total | ||
| General | funds | ||
| £ | £ | ||
| Independent examiner fees | |||
| Examination of the financial statements | 1,075 | 1,075 | |
| Total forperiod ended 31 March 2024 | 1,075 | 1,075 | |
Page 10
National Railway Heritage Awards
Charitable Incorporated Organisation number 1201052
Notes to the Financial Statements for the Period from 17 November 2022 to 31 March 2024
6 Trustees’ remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. During the year expenses of £1,509 were reimbursed to 5 trustees.
No trustees, or any persons connected to them, have received any other benefits from the charity during the year.
7 Taxation
The charity is a registered charity and is therefore exempt from taxation.
8 Creditors: amounts falling due within one year
| 2024 | |
|---|---|
| £ | |
| Other taxation and social security | 888 |
| Accruals | 13,077 |
| 13,965 | |
| 9 Funds |
|
| Incoming Resources Balance at 31 |
|
| resources expended Transfers March 2024 |
|
| £ £ £ £ |
|
| Unrestricted funds | |
| General | |
| 38,874 (52,142) 174,679 161,411 |
The transfer of £174,679 represents the funds transferred from the previous charity, National Railway Heritage Awards Trust, to the CIO.
10 Analysis of net assets between funds
| 10 Analysis of net assets between funds |
|
|---|---|
| Unrestricted Total funds at 31 |
|
| funds March |
|
| General 2024 |
|
| £ £ |
|
| Current assets | 175,376 175,376 |
| Current liabilities | (13,965) (13,965) |
| Total net assets | |
| 161,411 161,411 |
Page 11
National Railway Heritage Awards
Charitable Incorporated Organisation number 1201052
Notes to the Financial Statements for the Period from 17 November 2022 to 31 March 2024
11 Related party transactions
There were no related party transactions in the period.
Page 12
National Railway Heritage Awards
Charitable Incorporated Organisation number 1201052
Detailed Statement of Financial Activities for the Period from 17 November 2022 to 31 March 2024
| Detailed Statement of Financial Activities for the Period from 17 November 2022 to 31 March 2024 |
|
|---|---|
| Total | |
| 2024 | |
| £ | |
| Income and Endowments from: | |
| Charitable activities (analysed below) | 36,800 |
| Investment income (analysed below) | 1,719 |
| Other income(analysed below) | 355 |
| Total income | |
| 38,874 | |
| Expenditure on: | |
| Charitable activities(analysed below) | (52,142) |
| Total expenditure | |
| (52,142) | |
| Net expenditure | |
| (13,268) | |
| Transfer from National RailwayHeritage Awards Trust | 174,679 |
| Reconciliation of funds | |
| Total funds carried forward | |
| 161,411 |
This page does not form part of the statutory financial statements. Page 13
National Railway Heritage Awards
Charitable Incorporated Organisation number 1201052
Detailed Statement of Financial Activities for the Period from 17 November 2022 to 31 March 2024
| Total | |
|---|---|
| 2024 | |
| £ | |
| Charitable activities | |
| Sponsorship | 36,800 |
| 36,800 | |
| Investment income | |
| Interest on cash deposits | 1,719 |
| 1,719 | |
| Other income | |
| Other income | 355 |
| 355 | |
| Charitable activities | |
| Judging expenses | (1,902) |
| Plaques | (6,882) |
| Hall hire and catering | (16,417) |
| Photographer | (650) |
| Cash award | (2,000) |
| Audio visual | (12,636) |
| Ceremony programme and invites design | (650) |
| Name badges | (52) |
| Management expenses | (2,448) |
| Printing, postage and stationary | (1,230) |
| Publicity officer | (450) |
| Website management | (1,500) |
| Archive management | (3,456) |
| Internet charges | (40) |
| Insurance | (494) |
| Accountancy fees | (260) |
| Independent examiner's fee | (1,075) |
| (52,142) | |
This page does not form part of the statutory financial statements.
Page 14