Charity registration number: 1201052 ## National Railway Heritage Awards (a Charitable Incorporated Organisation) Annual Report and Financial Statements for the Year Ended 31 March 2025 ## _National Railway Heritage Awards_ Charitable Incorporated Organisation number 1201052 ## **Contents** |**Contents**|| |---|---| |Reference and Administrative Details|1| |Trustees' Report|2 - 6| |Independent Examiner's Report|7| |Statement of Financial Activities|8| |Balance Sheet|9| |Notes to the Financial Statements|10- 17| ## _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 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 Mr P Waller Public Relations Officer Ms L McCloud Treasurer Retired during the year: Mr C Baker Chairman of Judges Co-opted during the year: Mr S G Gyde Acting Chairman of Judges Judges: There were 48 experienced judges under the chairmanship of Clive Baker. Adjudicators: There were 10 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 Page 1 ## _National Railway Heritage Awards_ Charitable Incorporated Organisation number 1201052 ## **TRUSTEES ANNUAL REPORT** ## **FOR THE YEAR ENDED 31 MARCH 2025** ## **Introduction** This is the second annual report of the Trustees of the Charitable Incorporated Organisation (Foundation), National Railway Heritage Awards, charity number 1201052. ## **Objects and main activities:** The objects of the Trust 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 subcontractors 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. Page 2 ## _National Railway Heritage Awards_ Charitable Incorporated Organisation number 1201052 ## **TRUSTEES ANNUAL REPORT** ## **FOR THE YEAR ENDED 31 MARCH 2025** ## **Review of Financial Position** Sponsorship and donations for the financial year 2024–2025 totalled £65,500, comfortably exceeding the charity’s annual expenditure of £53,424(this will change). The resulting surplus of £15,871 (will change) has been allocated to reserves in line with the Trustees’ reserves planning policy. As a result, the charity’s reserves are sufficient to operate the awards for nearly three years without the need for external sponsorship. This also ensures continued support for strategic initiatives such as the digitisation of our Archive. The Trustees are acutely aware that some of our sponsors are operating in a period of significant uncertainty, particularly with the ongoing nationalisation of the rail industry and the increasing reliance on taxpayer subsidies. Securing sponsorship budgets each year presents real and growing challenges for our partners. In light of this, the Trustees offer their sincere thanks to all our sponsors and supporters for their continued interest and generous assistance. Their commitment remains vital to the sustainability and success of the awards. ## **Review of Activities** The 2024 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 nearly 60 entries received for this year’s competition and fittingly, as we move into the period when we celebrate 200 years of railways, there was one for a structure that dates to 1823. Entries were from all four nations of the United Kingdom and the Republic of Ireland. Entrants were a mix of community groups, private individuals and companies as well as public authorities and train operators. They ranged in size and scope and were judged for the competition for the 10 award category with an additional award for the best overall entry. A couple of entries received have been deferred because they were not ready for judging and another that was felt to be outside of our awards criteria. Nearly two thirds of the entries related to work done at stations, both open and closed. These included extensive work done at Troon Station to completely reconstruct a fire damaged Station building on platform 1, creation of a Heritage and Community Space at Bruce Grove Station, the refurbishment of the downside Waiting Shelter at Market Rasen Station, and the refurbishment of Ryde Esplanade Station. Page 3 ## _National Railway Heritage Awards_ Charitable Incorporated Organisation number 1201052 ## **TRUSTEES ANNUAL REPORT** ## **FOR THE YEAR ENDED 31 MARCH 2025** Restoration work was done to canopies at Great Malvern Station and at Chapple & Wakes Colne Station whilst the stained-glass restoration and associated canopy work was completed at Monkseaton Station, Tyne & Wear. A refurbishment on the derelict former Station Master’s house at Battle Station done in a heritage style to provide a community facility and, in a similar way, the Station Master’s House at Denmark Hill Station was restored for a future use. Important work has been done by Community Groups to provide new uses for redundant buildings and regenerate and enliven operational stations which resulted in several entries. These encompassed the refurbishment of the disused station building at Henley-in-Arden Station a complete restoration of the Bricket Wood Station building, the completion of a Community Cafe and Hub at Hollingbourne Station, the Tea Rooms at Crediton Station, the Café Bar at Horton in Ribblesdale Station and also heritage seating at Bat & Ball. Entries in a heritage railway setting included the external restoration work done at Penrhyn Station, two projects completed at Goathland: the restored and fitted out Station Weighbridge Office as a visitor display and a nearby Rail Motor Hut. In a larger scale a new heritage station has been created at Corwen to provide a western terminus for the extended railway. Several entries related to initiatives to find new uses for redundant railway properties included the work done create the Railway Rooms at Kingussie Station. Also included were the restoration of the Goods Shed Offices at Llanelli and the sensitively converted former Caledonian Railway Newtyle Goods Shed to form six terraced dwellings. The latest conservation work done to the subway at Crystal Palace that linked the long-lost Great Exhibition Hall with the now long-closed High-Level Station of the London Chatham & Dover Railway was also entered. Two schemes in Manchester, one being the conversion of the old Porters’ store at Manchester Victoria Station to a Public House, the ‘Victoria Tap’ and the restoration of the Station Agent’s House near the former Liverpool & Manchester Railway’s Liverpool Road Station. Elsewhere, entries included the transformation of the North Midland Railways’ former Wingfield Station from a derelict and seriously decayed condition to give this historic building a sustainable new future. Other entries included the Vale of Rheidol Railway’s new museum in the former GWR engine shed at Aberystwyth featured the relocated entrance portico of the former South Eastern Railway’s London Bridge Tooley Street offices. Page 4 ## _National Railway Heritage Awards_ Charitable Incorporated Organisation number 1201052 ## **TRUSTEES ANNUAL REPORT** ## **FOR THE YEAR ENDED 31 MARCH 2025** The second largest category of entries related to structures which ranged in scale and age. The oldest entry this year was the Gaunless Bridge of 1823, an early iron bridge built to connect the Stockton & Darlington Railway with Witton Park Colliery and now restored and relocated to their site at Locomotion, Shildon. Three footbridges where extensive restoration has been done were entered: the Boleside Road footbridge over the closed Selkirk District Railway line at Galashiels; Duffield Station; and at Cullercoats. Several viaduct on closed railway lines were entered: Pensford Viaduct near Bristol; repairs and waterproofing on Smardale Gill Viaduct near Kirkby Stephen; and, on the disused former Somerset & Dorset line near Shepton Mallet the work done to Ham Wood and Bath Road Viaducts as well as Windsor Hill Tunnel, where work has been done to make them accessible as a wheelchair friendly walking and cycling route and a key incremental part of the Somerset Circle pathway. The Stanway Viaduct at Toddington was entered after innovative parapet stabilisation work to maintain the historic structure on that heritage railway. On the national network, Camps Viaduct near Hamilton Central and the magnificent Barmouth Viaduct on the Cambrian coast, originally of 1867, with 118 timber and steel spans that have been rebuilt over several years. The Guest of Honour was Ptolemy Dean, Architect and Surveyor of the Fabric of Westminster Abbey 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. Our Archivist, Network Rail’s Archivist Vicky Stretch, continues to make real progress to overhaul and present our archive in a way that makes the material readily available. The archive was launched at the 2024 Awards Ceremony. ## **Investment and Reserves Policy** The Trustees continue to ensure reserves are maintained in line with our policy. Page 5 ## _National Railway Heritage Awards_ Charitable Incorporated Organisation number 1201052 ## **TRUSTEES ANNUAL REPORT** ## **FOR THE YEAR ENDED 31 MARCH 2025** ## **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 Secretary and Trustee Andy Savage Chairman and Trustee Page 6 ## _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 2025. ## **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: 1. accounting records were not kept in respect of National Railway Heritage Awards as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. 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. 4. 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. **SIGNED SECURELY** **10/07/2025 at 3:12:52 PM UTC** ...................................... Gillian McIntosh Wellesley House 204 London Road Waterlooville Hampshire PO7 7AN **SIGNED SECURELY** Date:............................. **10/07/2025 at 3:12:52 PM UTC** Page 7 ## _National Railway Heritage Awards_ Charitable Incorporated Organisation number 1201052 ## **Statement of Financial Activities for the Year Ended 31 March 2025** |**Note**
**Income and Endowments from:**
Charitable activities
2
Investment income
3
Total income
**Expenditure on:**
Charitable activities
4
Total expenditure
Net income
Transfers between funds
Net movement in funds
**Reconciliation of funds**
Total funds carried forward
9
**Note**
**Income and Endowments from:**
Charitable activities
2
Investment income
3
Other income
Total income
**Expenditure on:**
Charitable activities
4
Total expenditure
Net expenditure
Transfers between funds
Net movement in funds
**Reconciliation of funds**
Total funds carried forward
9|**Unrestricted**
**funds**
**£**
**Total**
**2025**
**£**
65,500
65,500
3,735
3,735| |---|---| ||69,235
69,235| ||(54,438)
(54,438)| ||(54,438)
(54,438)| ||14,797
14,797
161,412
161,412| ||176,209
176,209| ||176,209
176,209| ||**Unrestricted**
**funds**
**£**
**Total**
**2024**
**£**
36,800
36,800
1,719
1,719
355
355| ||38,874
38,874| ||| ||(52,142)
(52,142)| ||(52,142)
(52,142)| ||(13,268)
(13,268)
174,679
174,679| ||161,411
161,411| ||161,411
161,411| All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2024 is shown in note 9. The notes on pages 10 to 15 form an integral part of these financial statements. Page 8 ## _National Railway Heritage Awards_ Charitable Incorporated Organisation number 1201052 ## **Balance Sheet as at 31 March 2025** |**Note**
**Current assets**
Cash at bank and in hand
**Creditors: Amounts falling due within one year**
8
**Net**assets
**Funds of the charity:**
**Unrestricted income funds**
Unrestricted funds
**Total funds**
9|**2025**
**£**
**2024**
**£**
184,140
175,376
(7,931)
(13,965)| |---|---| ||176,209
161,411| ||176,209
161,411| ||176,209
161,411| The financial statements on pages 5 to 11 were approved by the trustees, and authorised for issue on .................... and **SIGNED SECURELY** signed on their behalf by: **SIGNED SECURELY** **10/07/2025 at 3:05:57 PM UTC** **10/07/2025 at 3:05:57 PM UTC** ......................................... Mr J Swift Trustee **SIGNED SECURELY** **09/07/2025 at 4:20:04 PM UTC** ......................................... Mr Andrew John Savage Trustee The notes on pages 10 to 15 form an integral part of these financial statements. Page 9 ## _National Railway Heritage Awards_ Charitable Incorporated Organisation number 1201052 ## **Notes to the Financial Statements for the Year Ended 31 March 2025** ## **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. Page 10 ## _National Railway Heritage Awards_ Charitable Incorporated Organisation number 1201052 ## **Notes to the Financial Statements for the Year Ended 31 March 2025** ## _**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** |Preservation of national railway networks
**Total for period ended 31 March 2025**
**Total for period ended 31 March 2024**|**Unrestricted**
**funds**
**Total**
**General**
**£**
**funds**
**£**
65,500
65,500| |---|---| ||65,500
65,500| ||36,800
36,800| Page 11 ## _National Railway Heritage Awards_ Charitable Incorporated Organisation number 1201052 ## **Notes to the Financial Statements for the Year Ended 31 March 2025** |**3**
**Investment income**
Interest receivable and similar income;
Interest receivable on bank deposits
**Total for period ended 31 March 2025**
**Total for period ended 31 March 2024**|**Unrestricted**
**funds**
**Total**
**General**
**£**
**funds**
**£**
3,735
3,735| |---|---| ||3,735
3,735| ||1,719
1,719| Page 12 ## _National Railway Heritage Awards_ Charitable Incorporated Organisation number 1201052 ## **Notes to the Financial Statements for the Year Ended 31 March 2025** ## **4 Expenditure on charitable activities** |**Note**
Preservation of national railway networks
Allocated support costs
5
Governance costs
5
**Total for period ended 31 March 2025**
**Total for period ended 31 March 2024**|**Unrestricted**
**funds**
**Total**
**General**
**£**
**funds**
**£**
45,508
45,508
7,855
7,855
1,075
1,075| |---|---| ||54,438
54,438| ||52,142
52,142| ||| |Preservation of national railway networks|**2025**
**£**
**2024**
**£**
54,438
52,142| In addition to the expenditure analysed above, there are also governance costs of £1,075 (2024 - £1,075) which relate directly to charitable activities. See note 5 for further details. ## **5 Analysis of governance and support costs** ## **Governance costs** |Independent examiner fees
Examination of the financial statements
**Total for period ended 31 March 2025**
**Total for period ended 31 March 2024**|**Unrestricted**
**funds**
**Total**
**General**
**£**
**funds**
**£**
1,075
1,075| |---|---| ||1,075
1,075| ||1,075
1,075| This page does not form part of the statutory financial statements. Page 13 ## _National Railway Heritage Awards_ Charitable Incorporated Organisation number 1201052 ## **Notes to the Financial Statements for the Year Ended 31 March 2025** ## **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 £2,468 were reimbursed to 15 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** |Other taxation and social security
Accruals
**9**
**Funds**
**Unrestricted funds**
General
**Unrestricted funds**
General|**Incoming**
**resources**
**£**
**Resources**
**expended**
**£**
69,235
(54,438)|**2025**
**£**
**2024**
**£**
857
888
7,074
13,077| |---|---|---| |||7,931
13,965| |||**Transfers**
**£**
**Balance at 31**
**March 2025**
**£**

161,412
176,209| ||**Incoming**
**resources**
**£**
**Resources**
**expended**
**£**
38,874
(52,142)|**Transfers**
**£**
**Balance at 31**
**March 2024**
**£**

174,679
161,411| This page does not form part of the statutory financial statements. Page 14 ## _National Railway Heritage Awards_ Charitable Incorporated Organisation number 1201052 ## **Notes to the Financial Statements for the Year Ended 31 March 2025** |**10 Analysis of net assets between funds**
Current assets
Current liabilities
Total net assets|**Unrestricted**
**funds**
**Total funds at 31**
**March**
**General**
**£**
**2025**
**£**
184,140
184,140
(7,931)
(7,931)| |---|---| ||176,209
176,209| |Current assets
Current liabilities
Total net assets|**Unrestricted**
**funds**
**Total funds at 31**
**March**
**General**
**£**
**2024**
**£**
175,376
175,376
(13,965)
(13,965)| |---|---| ||161,411
161,411| ## **11 Related party transactions** There were no related party transactions in the period. This page does not form part of the statutory financial statements. Page 15 ## _National Railway Heritage Awards_ Charitable Incorporated Organisation number 1201052 ## **Detailed Statement of Financial Activities for the Year Ended 31 March 2025** |**Income and Endowments from:**
Charitable activities (analysed below)
Investment income (analysed below)
Other income (analysed below)
Total income
**Expenditure on:**
Charitable activities (analysed below)
Total expenditure
Net income/(expenditure)
Transfers between funds (analysed below)
**Reconciliation of funds**
Total funds carried forward|**Total**
**2025**
**£**
**Total**
**2024**
**£**
65,500
36,800
3,735
1,719
-
355| |---|---| ||69,235
38,874| ||(54,438)
(52,142)| ||(54,438)
(52,142)| ||14,797
(13,268)
161,412
174,679| ||176,209
161,411| This page does not form part of the statutory financial statements. Page 16 ## _National Railway Heritage Awards_ Charitable Incorporated Organisation number 1201052 ## **Detailed Statement of Financial Activities for the Year Ended 31 March 2025** |**_Charitable activities_**
Sponsorship
**_Investment income_**
Interest on cash deposits
**_Other income_**
Other income
**_Charitable activities_**
Judging expenses
Plaques
Hall hire and catering
Photographer
Cash award
Audio visual
Ceremony programme and invites design
Name badges
Management expenses
Printing, postage and stationary
Publicity officer
Website management
Archive management
Internet charges
Insurance
Accountancy fees
Independent examiner's fee
_Transfers between funds_
Funds - Transfer from another fund|**Total**
**2025**
**£**
**Total**
**2024**
**£**
65,500
36,800| |---|---| ||65,500
36,800| ||3,735
1,719| ||3,735
1,719| ||-
355| ||-
355| ||(1,588)
(1,902)
(8,485)
(6,882)
(20,043)
(16,417)
(675)
(650)
1
(2,000)
(13,164)
(12,636)
(1,533)
(650)
(21)
(52)
(1,808)
(2,448)
(68)
(1,230)
(450)
(450)
(1,770)
(1,500)
(3,024)
(3,456)
-
(40)
(512)
(494)
(223)
(260)
(1,075)
(1,075)| ||(54,438)
(52,142)| ||161,412
174,679| This page does not form part of the statutory financial statements. Page 17