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2022-12-31-accounts

RAILWAY AND CANAL HISTORICAL SOCIETY (THE)

(A Company Limited by Guarantee)

Charity Registration Number: 256047

Company Registration Number: 00922300 (England and Wales)

TRUSTEES' REPORT

AND

FINANCIAL STATEMENTS

For the Year Ended 31 December 2022

7 Grosvenor Gardens

Victoria London SW1W 0AF

THE RAILWAY & CANAL HISTORICAL SOCIETY Railway 8 Canal HIMorical Society Annual Report 2022 rht ffU5rets. Ivho ore tslso rhe Compony Directorslor ihe pury105eJ oJlhe ComponiesAcis, present iheirReportlgr Iheyeorended31 December202Z. fteferente and adminirtrative delails-. Chority regirtration number Company regislration number Regimered oftice Wèbsiie •ddre5S 2S6047 tY)9223thJ IEn8lènd & Wales? 7 Gro5venor Gardens. London. SWIW OAF www.rchs.or l. Tfusiees Grahame Boyes Goidon Biddle 110 28 May 20221 8ob Bramsort Roger Brice Philtp Brown Peler Cros5-Rvdkin r*m Edmonds 110 28 May 20221 lane Ellis 'Wendy Freer 110 28 May 20221 JohnGou8h Ito28 May 20221 Bob Haskins Nicholas Higton Qavid Joy Ito 18 Moy 20221 Geralu Leach Michael lewis Ito 28 May 20221 Philip Lloy Michael Messenger (to 28 May 20221 lon Moss (to 28 May 20221 Patrick Mg$5 Philip Scowcroft (to 28 May 20221 Mènbewseaile (to 28 May 20221 Oèvid Smilh Andrew Wagei 2. Piintipal ottice Piesidenl Hon Secieiary Hon Treasurer Mana8ing C¢mmirtee Chairman Ger31LI Leach Roger Brice David SmiEh Patrick Moss IndepEndent Examin¢r 58 Audit LIP. FittCOY House. Crown S¢reei, 1p￿vich IPI 3LG banke CAF Bank LEd. 25 Kin85 Hill A¥enue, Kin8s Hlll. Wesl MallinK Mf 19 4JQ Investmènt managers CCLA Irp4estmeni MaDagèmeni Ltd,.l Angel Lane. Loiidon EC4R 3A8

  1. siructuie, coveenance and manogefnent a. Goveinin¢ dD¢umeni The Socieiy is a company limitetl by guarantee. being 8overned.irt accordancè wilh Memorandum and Airicles of A550ciadon dated 2J October 1967 las 511Dseryuently amended). All members undertake io Éuaranleè the liabilihes io a maxlmvrty ol £1 ea£h. b. Membership Meinber5hip gf I he Socieiy is opetk to anyts)dy Inttriested in ihe l)isiory ol transport. on xpplicvlion tn writine and paymenr of the substripiion. ¢. TruMet5 The members ol the Council are the Trustees ol the Societv and are Directors lor ihe purposes DI Ilie Companits Acis. The Coun<ll comprises the Presldent. up to eight vt(e.P￿$i￿efiIs. Hon Se¢ietary, lion Ifeasurer. one represeniaryve from each Regional Group noi lewer ¢han six nor more ihan iwelvo members elected at Ihe A Trnual Meeting. AlihouEh the eleciioth process does iior euaraniee il. in practice li is lovnd ihat il yields 3 suit3ble balance ol acadeniic. Pfolessionèl and tnana£erièl expeni5e. New Truslees are Eiven c(Jpies ol the conshtulion, notes of ELiiilan¢e on the Society's Of8an4s?rion and proce5se5. and ihe Ch31ity Comrnis51on"5 publicarion Yhe Essential Trustee,. d. Managemeni Policy issues are decideL1 bv ihe Council. subja to any decision5 mJe ai General Meetin8s, Dvring 2022 IhÈ MonaÈing C¢)mmiltee and Council iended lo meel iogether 10 tnsufe maximvm eneaÈemeni ol ihe latlei in the S(fa(c&ic direction ol the Society. Tho Publitarions Commirtpo dcals with books Jnd bookltts published b¥ the SotiQty. Oihef ad hoc'iask and finish, con)niitices afe eslablishLd when necessary. Personnel Thc- Sotiery ha5 no emplovees. All ètti¥iDe$ are undertaken by woltsrtiotr5 whoare rtimbursed onlylor fiecessorv opproved expenses. f¢iembers ol the publica￿OnS Comminee each peceive a copy of all books PLrblished by the Socicty. l. Belated parties Thi. 5oclety woiks coopcratively wilh oihci (ièiispoir and h1510ricèl sociÈttek It is a toiporaie member ol the Inland Waienvays A550ciaDon ènd thL Assocjariort loi Itvlustrial Aichaeology. Tbe Society nominare5 a rnember to be on Ihe Council of ihE Canal & Rivèr Tiust.

  2. Risks The Socieiy remain5 Solvent buL cerrain lon8èr-ieim Fssue5. idenrilied in Ilie previou5 annual iepor15 COn￿nUe io cause concein. Membersh*p by 3.2% io boili de?Ihs atid iesi8natiQDS. The 32% re￿uc￿On in new members- Iron) 69 10 47- IJ a cloar cause lor concern. a5 is the ien¢Jency lot new member5 10 drop oui wiihin fotsr years. Lack of volunteer5 101 administraiive positions in the local and nanonal sirucivre conrinues io be an Issue. I here has been Tto discernible improveirieni In these feaiyfes ol tlie Sociely. Membefship has (tècfirted sn8litly bul EiiiQ¢l the esDmaLe<J ¥e profile of exlsiiiiE inember5, (he possibil¢ry ol an increasèd rale ol detline in membership IhTOLl8h natuial causes is o poieniial risk

  3. Key Comments on 2022 The lin3nci31 stability ol the Soc4eLy has been mainiained fluring 2022. building on Ihe tliaTr8e5 noted In ihe last Annual Reporr. DiJrin8 2022 rhe SocieTr resumed some aspec15 of ihe prt-pandemic delivery model. such as faie ta face meeDn&S. The oieanisation and manaEemenE ol iht media aichivt received stet7ifi(anl anention during 2022 an(J a dedicared group ivas esiablished ¢liai made subsiani7?l iniprovemenl5 that are repgfied below. No Young Researcher Awards were made dvring 2022 bui ihe Counctl and Mana£inB Cornmirtee have decided io (levelop mole effeciive use ol reseaTch lund5. pairtcularly felated 10 the Media Archive. The ne￿$S31Y constlluttonal changes We￿ made that amend Ihe role ol VICe-pre￿￿ei71S and en3ble Council and Managing Commirtee to work rogeihei mole closelv.

  4. Objective Thesoeieiy's chafi(able objective is-. Yo promote. encoura8e and co-ordinale ihe siudy tsl the hlstory of railways. canals Ind transpoii Cvrienily the pwincipal methods ol achitVihB Ihi5 objtd?ve are-. P¥ovidinÈ lofums loi discussing and luithertnÈ research into 8rilish Ifansport hiSIOry. Ptsblishln8 Quality research.. and Oieanisin8 conlerences. speaker meerin&s 3nd ¥i5ilS to places of InieresL
  5. Chafiiable •ctivitièS . Genenl The Trustees have COM￿led thih iheir dury lo have due fegard to ihe guidance on public benelit published by the Charily Commisston rn exercisine Iheir powers and duD"es. b. Publications 800s'. Two new titles werè publis1￿d in the year- John Rennie.. Engineerojmonysplendid onduseful bvofs by Peter Cr055-Rudkin, Roilwoy5 ond Contsls in the Chvrnet Volley- Consollp051 ondpresent byThe Knotly Ranibler5 (Allan C Baker. Mikt G Fell 08E and Barry Knapperl. Terhnolo9y. Iconomirs. ond Conol De¥elopmeni-An eftfly technicol book ond whor it reveols by Mike aarke ha5 been pariicvlaily well ieceived and anothet 50 ropies weie prinied. Phtlip Rirten ol Merton Priory Piess 6enefously donaied 22 fernainin8 copbes io iht Society ol Re8 Schoffeld's biograph¥ o( the ert8ineeT Benjarnin OviTam. These weiE sold quickly. TheJov¢nol.- continved to be prodiiced and di51ribuied wiihoui any interyuprion lo lis nprmal schedule durlng 2022. The usual three issues weie pfodyced and cooialnod 16 major artfjcles (Jl on railways. 3 on waterway5 ènd ofie each on ro3d5 and ¢oastal s1iippin81108eiher iviih obituacies. book re¥iew5 and ilems ol¢ofre5pondence. Aher a dip 511 202J. tlie fiurnber ol book teview$182 over 39 pagesl is similaf 10 pievious yeats. BeÈinning In November 2022. Siephen Phillips his iaken over ¢Je51Bn ol itt¥ Cove￿ from Malcolfti Presken.

The 8ullei?n.' cotiiinues io bp a bi-monihly publ¢cafion. COVID-J9 restrctions meant that noiih'cations of Regional Group evenis were limiled. and at pieseAI there are lewer repons from ihe SIGS. Fonunately. tnembers coniijiued 10 submil siorie5. pi(ru¥e and iiems of hisLori£al interest io sustain Pfodvttion and ihe chéerfvl style loi the Bulletin which the editor has (reateil. Inlond Woterwoy5 oJGreoi BKituin ondlrtlond ift Poilioment. publtshed lonline} this listing idonrih.es Parfiamentary involvement wilh inland waiefways in Greai Oriiain and Ireland. From 1121 up lo 1536. the lisl only covers En8land. Ihen England ènd Wales io the Scottish union in 1707. after vihich Scotland is included. lieland is rovered l¥tsm ihe early period as il was conquerEd by the Norrnans in the 12lh cenLury, byt ihe engllsh Crown Lid nol take lull contiol unlil 1541, with ihe Irish Parliament being mereed with the Westminster Parliament Irom J80J until part(tion in 1922. Annutrl81&1iogrophy." Yhe first annual biblioÉfaphy u5tng ihe 35sisiance ol a wi¢er band ol contributors (covering 20211 was published onl¢ne. Conoi funnels DatobosE.' A dolabase of canal tvnnels was pvb115hed online. This is a new initiaiive by a nietnber of the Socièty. TrL7nSPOrt Annlverstrries.. Al the beginning of each year ihe society prodvtes è li5[ of tronsport hisiory atsniversaries. These include events Irom 25, SO, 75. 150. 175. 200, 250, 300 and 400 years prior io the current yeai. Ihe lisi lor ènni¥ersaries lallinE tn 2023 vias pvblisheLI online (5uring December 2022. Website The websire shop continues to attraci traile wilh around 800 order5 bein8 Pfoces5ed duiing ihe year. These sale5 tOTalled £24K, of which É7K was velaieo io ihe Society's own public3tign5, another £7K ro m?mber5hip Sub5ciiption5 Including 46 new members. and £IOX was in rc6o¥d of ihc fesidenn.al weekend èased in Frome Isee SW Group entry belowl. An additronal £6K was èttribvtèble to booking5 and publicabon5 on behalf ol ihe Early Rèilways Conlefence. A nLtmber of Socicty publications suiièble only lor online public2tlon werc addcd io the websitc- see 7b above. Ugdaio5 ro arrangcrneni5 lor meeting5 and outdoor event5. mosi neces51tated by Covid-related issvcs and rail disruptions, were publlshed on ihe websitc and supponed by email alerts organisetl by the web team. This seTrice proved io be popular and apwcciated such ihat li ha5 been continued beyi)nd ihE endin8 ol Covid FPSiiiciions. ThE web team also reviewed available security sohwaie resuliing In the installarion ol a new h"¥ewall. d. Media Arthive Ourirn8 2022. fvither si8nihcant progress has been made wilh the Media Archive. which itow includes 80.000 phoioeiaphs. maps. engineerine drawin85, etc. Further Collcnions have been added during tlie ¥eai, inclvding thai of Gordon R3ttnbury, a former vice-pfesident ol ihe Socielv who died in 199&•. JrTrd who was a well-known auihority on ihe IraFDroads of South Wale5. Around 25.000 of rhe h3rd-copy prints. slides. antl neeahves hwe been scaftned over ihe pa51 twenty or more years. but SDme ol them are delerioratin8. 50 the scanning proce55 15 proceedin8 wilh some urgenry. Once 5canrned. Ille ima8es are beine lightly edited, and then vploaded to the Online Archive_ Equallv irnpotianl 15 the task of providsng ihe besi caprion we can for each image, based upon ihe sometimes-briel Informa￿0￿ provided by the photographe¥. $￿ppleMEnIed by the expert advtce of membels Once ortline. comrnenis can be posied lor each image tD correct OT enhance Ihe caption infornlarfon. Collections currenlly beinE worked on include those of our late member5 Bertr?m Baxier, Hugh Compion. Aay Cook. (￿lIeS Hidh'eld. Dennis Hadley. Edivin She3rine.Jeollrey Spence and Rodney

Weaver. Ihe-Z&nphoio' softthyie utilised lorille Online Afchive has pfoved to be very sii,.table lui oui lleeds and ha5 undw8one luiiher developmeni under rhe lechnical leadership Df U￿r mervbei. Adrian Moss_ There are now 30 voltsniee15 working on differerbt aspecis of the Metlt3 Arthivt projett and, a5 015 Mèich 2023. Lliere ivere. 7,300 ¥ma%es online. 3n inuease o12.9CIJ over ihe year. New VClunieers are Jlway5 %velcome, particularly ihose who feel ableto help wjth thè uploading Inoi difficult Bfter a litLle traifjingl. 8. National Activities 4. The Sorieiy SAGM was held in Birmingham ofj 28, May lollDwing thè presentation of ihe annual RCHS Tronsporl MisiDry Book o[IhÉ Yenr awards. b. Clinker Memoriol lecture.. HCHS member Dr Michael 83iley MBE. deltvered tho lecture.'"Built in 8rliain.' the Indcpendenr locomotive ManufactLFfinB Industry in Ihe Nineteenlh Century- The attendance 014? comprrsed 2] menibers ol rhe North West Gfgup. 8 Oihei RCH5 membeis and 18 visiiors. Tlie PFeseniètion ivas madp availèble io a wider audience throu8h a recording placetl on Ilie website. attraciin£ a total ol mofe Ihan 60 furiher viewings. 9. Ae6ioDal Group Activi16es a. Eost Midlonds.. Ihe Group initially held a piogramme ol Fii¢Jay evening on-lifte lectules using Ihe Society's Zoorn lacilify. A chan8e ol venue w05 nèce$5¥ry during ilie year dve io closure ol ovv riÉinal meeting place. EiRhl rneelings were held with a iotal arteAd•nce of 218. There were s1¥ ovrin8¢ and six committee meeb"ogs. b. London". Dtst to Covid rtsrriction5 and the difficully ol finding a 5Vitable venuc. followi￿ ihc closure of Ihe RuEbv Tavern, Ihe speaker pro8ramme for 2022 was ie5rriacIJ to one meeting being held Using Zoom. This talk explaincd how• ihe Firs1 Woffld War neei was kepl sopplied wilh coal from the south Wales coalfield. North £ost.. Six meetings were hold. Thtee ol these were held at our new regulaf venue 91 Yolk Éxplore bbrary in Ihe ceniie of York. The remainin6 ihree planthed meetift8s were seriously impa¢(ed by rail strikes-. one was Posiponed whrle ihe remaining livo were held by Zoom. d. Nort4 We51.. [￿rIng 2022 Ihe North Wesl Group held seven l¢clvie meetings. The Group had scvon walk5 in the area two day-iour5. We rneei in ihe acce55ible Friends. Nleeiin& Hovse ,hpre Ihè siaff ale obli8ine and to-operaiive. The Group ? walks in rhe area of Warringioffl, Mow Cop. Leigh, Whelley. Leyland. and Burscou8h Brid8e. where Ihe Group held lis tradirional pre-Chri5tm35 lunth. There was a rail loui ift South Wesl Lancashire and a visit io ihc Foxfield Railway. Ihe Group hosied ihe CIFnker Lectuie ihis year which ètttscied 47 aNeAdees. *. Sovrh ivest.. rhe Group is admlnisteied by a 5m311 ￿anning ieam. which orr3n8Ed a 2022 programme of diversc. educètional and entenarning aC￿￿￿e5. Five remoTe ?ccess talks weri organisetl as well as vislts and one walk. A well.svpported ¥esideniial weekend based on Frome in Sometsel inclL+dpd V15jt5 to Ihe Someis+t5hire Coal Canal. Murtry Aouedva aDd the Somerset and Dotsei Raihvay FlÈriiagt Trusl. Wesf Mtdlonds.. Tlie lirst three ialks of 2022 were presenied using il)e Zoom lacillty followtd laier In the veèr by three live 131k5 held oi ihe 8irmineham & Midland In5ri1uie. our tTrew vtnue folltswin8 ihe closure of (he Briar Rose ionfe¥ence toom Allend3n¢p. ai ihe live mpering was about ball the numbers attendifl tiJe-co¥id. N'o outdoor or prornolional evenis were held duiing ihe yeai.

  1. Special Interest Groups ISIG$l Pipelines ond Motetyiols Hondliftg.. Thi5 G¥oup was largely inèctive durin8 2022 due io the retiremenl of rhe coordinators. b. Rood Tronsport. Ihe Group's Co-ordina￿1. Pliilip Scowcroft. reiired durinc ilie ye31.' oui ihanks are ue lo him for his work on behall ol the Group. Peier CfQSS-Rudkifi itsok uver Ihe role. 11 wos decided thai, vihere35 previously new51eTie¥s had been issued as hard copy whenever sufficieni material had been amassed. in futtsre material will be citculaied eleciionically as soon è5 recelved. 01 the previous 56 n)ember5 of the 8roup. 48 have email addresses. A decision will need lo be iaken al Ihe end of the year abotsi keeping in iouch vjiih the oiher eighi. Three Noies & Queries weie circul3ied in 2022 c. Ati Tronsport.. Due io changes in personnel the f￿tUre ol this Group will be re¥￿Wed during 2023. d. Eorly Rcilwoy5'. Al Ihe of 2022 the Group mailiiie list included 201 members. )3 01 wliom had nevoly iotned the GroJp thai ye3r. One person resigned their membership in 2022 50 tliJi the men)bership numbefed 19G. No new Occasional Paper5 01 Circulars were dist15b￿1etj this yea¥, rneènin8 Ihèi Ilie number ol Ocia5iDfbal Pape15 Temains?67. A numbef ol members agreed io assi%t With the RCHS Media Aichive in digitising rho Bertram Baxter Collettion. e. Modern TronspoAI.. Foi tht lirsi time the Group has produced 2 papers on specih"c subjecis in addit?on to ihL. four rtew51ettefS that appeared ihrou8houi the year. Other specilic papers are in preparaiioii. Ilie inernbeiship ol Ihe Group has decrease¢ slighily to 70 wtih members leavin£ thL Society. oi ihe Group. IhrouEh decease. Illne55, or personal choice, èlthouEh new members continve to join the Group. All bvt one now rece4ve Ihe emèil PDF version of these publications. The lalk fgr modein tFanSPOrt subjeci wès planned lor the 202213 seB3on ol iho We51 Midlands GfOUP 31 Ihe BMI in 8iiminÈham on 18 M3Ich 2023. bul was pos¢por¢eO ihrou8h Ihreaiened industrial acnon uniil the Novembcr moctin6 202314 sea50n. Roilwov Chronology.. A roduction in coniiibutions lead io only 2 newslcners being produced compri5inE 56 A4 pace5. although 7 mailing wcfe ciiculèttd with 118 cDpic5 of each ¢Yolivered by ernail èttachmenl durin& the year. An updaied vcision15.041 feplacing veision 5.03 of Mtchael auick's 'Aailwèy PBsscn8ei 5tarions ol Great 8ritsin" was released durin8 Sepi¢mt>er on ihe RCHS web51te containin8 additional updaied informatron provsdod by ihe 3uihof. Group membeiship increased by 5 fo a ioial ol i?? with 11 new mcmbeis, 2 dcccascd and 4 lawed dvrinR the year
  2. Roilwoy History Re5eorch.. Grovp membcrship ￿mained laigely 5tab"t witli 92 membors rccoJded at tlie end ol the year1-21." 28 cmail circulars were i55ued during 2022. whlch incltsded I I 'ntstès & ouerie5'12 01 whicli resulied in rnultiple responses from group membecsl. 3 repriniets amcles, 9 'occasional pèpeis.. and 2'Ivofks in pro8￿5$.. In April arsd Au8U5t material Irom previous c¢rculars was tonsolidaied inio newsletters. which werp emailed to efoup member5 and archived io the niembers. area ol the weljsiie. along wilh an updated cumularive index of articles. Woterwoy3 History Reseofch..7here was a small increèse in the Group's membership durin8 ihe year.. ir now 5tsnds a1162. The eroup svbmitted 26 Noies & Queries. one Occasional Paper, two Phoiograph Queries. live Reprinis and five Souices Papeis. The number of Noie$ 8 Quejies was less 11san in the lasi few yeaf5. probably due 10 LhÈ13ck of lacilities for tsriginol research tn record office5 cILised by the COVID pèndemic. aoih phoioE¥aph queries were idenrlhed successfully. Al Ihe request ol ihe management comrrsittee, Ihe prècDce of pioviding hèrd copy ol ihe Group's iransacrions (fee io mEmber5 ceased. and 82 members agreed io subscTibe. On this basi5, It wa5 decideij tliai il Was linancièlly lea5ible. A th3r8e 01 £8 per copy was rnade, and the Issue broke even. Ihe Ir3nsactions were also pvblished in the SIG se¢tion ol the Soueirf5 wEbsiie as betofe, lor ihose who did noi wish io havè hard copy.

Inrernei DiscussNon Grotsp". The Iniernet Dlscusston Gioup conrinues io be 3ctiv?, POSlinÈ an avera8e 0144 messages a month. Mernbershlp is 66. twelve more than 2021. This GrDUP ts sponsored by Ihe Society but is open io. and welcomes, non-mernbe￿ *.ho wish io join. JJ. Other tharitable activities 3. Reseorch ond the ucodeniic community: The Society offers an 3nnLt?l awhid loi ihe besi paper. A.LN)O 10 6,000 words in lenyh. submirted on a subject relared to Iran5pori hi510ry by a person under Ihe age 0130. with ihe winnii)g paper and any Dlhe¥s deemetl woilhy being published in the Journol. No papers were submitted dufin8 2022. b. Reseorch gronts.. Nogrants were madÈ.during 2022. Oeveloplng a more effective use ol the Society's research fmd5 will be addressed during 2023. 12. Tran5POrt Ilisiory Book of the Yeaf Awards The judges short_li51ed seven ritles ihis yea¥. drawn Irom Ihe 77 publications ihai received reviews in the Jourrjal i55ue5 of July & November 2021 and March 2022. an increasè on the Previous year's f7Eure of 69 bui still ljelow pre.pandemic levels. Two books litted Ihe 'othe¥ modes ol iransporl. cale80ry, one ori an aviation topic and the other maritime, Ihough with a railway connection. The'oiher modes of iranspoft. prize went to Troin Ferries oJEurope by Steve 8arron. The prize for Popular Transport Hislory went io Cothedmls olsieom by Ch¥isti3n Wulmar. The R3tlway Hisiory priie was awarded to Tlre Greor Central Roilwoy.. whot reolty hopppned by john Palmer which vias also awarded ihe overall prize lor 2022 RCHS Transport History Book ol the Year. John Palmer and Sieve Bèrron anended ihe presefiiation event on 28 May 2022 in person whilsl Christian Wolmar attended femotely VIJ 200m. 33. social Media and oihet publicilv Rexu131 Fa¢¢book posis were made durin8 the year. These inclltded noD'h"cation of all RCHS Tneeting5 and walks ivhere the organiser5 had pro¥ided adequate descripDons ol the evenl. Details of new Society pvblications were èrynounced. together wilh invitation5 10 lorn iheSoc4ety, and variou5 speclal orfers. Transport hisiory news item5 l¥om external source5 also occasionally posted 50 Ihal, in toral, over 100 rllu5traled posts were made in 2022. reachinR a worldwide aud+ence of l.ioo"lollowErs" includln8 in Ihe USA, Ausiral>3, India, and Egypi. Our rn05t-viewed p05t5 were seen by over 3.2DO people. Ihu5 increasing the visibilify ol the Society ro e￿1$rIng ènd poienrial members. The ainker Memorial lecture was advertfsed irb Railway Magazine.

  1. meMbe￿h•P Membership lell by 3.2% dunng 2022. New memberships dtcfeased and boih lapsed memberships and res48narions increased. Total memberships on 31 December 2022 CateEOry At End 2022 At End 2(12l anEe 4ivring 2022 1474YiYidual Jnernber5hips Jollll MÈrnbErship3 srudeni mornberships Instituie of Railway Stuoiei Complimeniary membeiship5 Toial Membeiship5 693 714 -21 51 20 li 14 -14 765 .2A Changes During 2013-22 2022 2021 2020 1019 2018 1017 2016 1015 2014 2013 8egiAnine of Vear 793 776 795 795 824 825 831 New memberships 47 69 54 63 48 43 43 50 Less deceased members .13 -15 -16 -18 -16 -14 -14 .15 Le55 resignatiDA5 -27 .18 -28 -29 -15 -24 -36 -18 less lapsed excluding those V4ho subsequently paid -39 -35 -19 -2? -20 -20 -25 -19 Individual to Double & vice erso End of Year 765 793 776 795 795 799 824 825 831 tRSno longer prol'ide the MA ID AailwJy5 Sriidies and RCHS now oNtrsfree membei&hip 10 oll posigraduale sIL￿e￿i$.

l& Fln3nilal ic¥lrt¥ Ti tieaiesi ¥fiecl go GÈiiÈiai l iiiidintoni¢ e>podiiuiE Ulilwytai enétd 3J>r LlÈcèrttb?1 ￿¥2. Na: ThÈtfe?Itsg IIViaOCial Clitbteil￿VTr In ihè Aciouol< t5 f•li iii ihp mèitÉl vblup ol v¥r li1￿$1Men1{ lyul ¢110￿1( vJlucs InL%iiat¥ly EO IJD 4nd dowi) dèy by do. o￿lI￿E 202? Ilie ￿alUES by E 8.666. bui in 2031 vJiies I￿￿1 iipby tli.60> We bNiftlii ihe in¥tsinitiilS EtAI.CVXbiowhidK Ilii. el10 t)r?OJs. $0 e%'PTh ai ?)'. O¥•£ertil]er2V?2 t￿eylll¥￿Ith 1g.ttG Ihon Ilitr Ctpy. •ndi''e èrL t¢rvh.InE >St Svb:ciiiilioii irl(ciiiÉ loi 4077 1 ￿.0￿5 èl￿ In4OnvL I¢ibVtrii￿ ￿n￿￿'[ iliQ Gill AidsLlL'ni(' {4 6111. Oih.'urs bt¥￿￿.¢rySlr￿II11r io Ihp piewisieoi Ovr Oilitl >OlllL&S 01 in£oillt artr Illhtrlrani L4'enis. m(luOinG niei.IHIBS yr¢anKed Lliè Re6p4trnS. Ahd sales oi Èool. I ht54' iiepbis ol iDrtyDE cenEtilFIEre ri.oio ￿- Fctsiirfolh?ii b¢iil. lJvl F4eir ?tyèilS(.lI IIIS afc firtillki io CilH-f b•MI.I I,i. rd'otikpll Cost (as? 211PI. knliitli IDW fillCalJfjO nl ihè NJni4t6siiy vl J6. P13n. foj ?Ol>. AMonÈ ifjf gYiai¢ie5 IDr a¢1.￿0 Ih tr23 diL' .i¢rprD%YnRilie ronimun¢cairnn olihi StKièiY iis#iombpiS1 irKluditR h•1 npl i￿11t￿t￿lI 19111 50eial pru (Ibi ey•li. 11 Mi 41 Il¥B5¢1 irlW*'I Li)13

THE RAILWAY AND CANAL HISTORICAL SOCIETY Acom an Llmlted b Guarantee Finanelal Statements For the Year Ended 31 December 2022

Pa9e I THE RAILWAY AND CANAL HISTORICAL SOCIEr Acom an Llfflited Guarantee STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OECEMBER 2022 Unresiri¢td Funds ResiiiGted Funds Total 2022 Notes. 2021 Income Oonalions ana legacie5 Chaiitable acliTrriis Invesknni$ 26.079 22.979 1.250 19 5.814 1.129 26.098 28,793 2,379 26,989 20.083 1,978 Tolal income 50.308 6,962 57.270 49,050 enditure Chariièble aclfvilies 43.631 8.113 51,744 36.442 ExcEs5 of In¢ome over expendiiure 6.677 5.526 12.608 Nel Ilos$¢sl I gains on investments Ufireali5ed Ikns5e5119alns 14.4011 14,2671 18.6681 6.802 Net mr>vemenls in fund$ 2.276 15.418) {3.142) 19.410 Funo balances ai l January 2022 75.518 58.S07 134.Q25 114.615 Fund balances al 31 December 2022 15 77,794 53.089 130,883 134,025 Thp Slal¢rn¢nl of FiThanoal Aclivilies all gains and10$5ts recogntseQ n th8 currenl and ￿ltiT years. All in¢orne and gxpendilure derNè liom coh1￿￿￿9 acty¥iIs. Ibe Sialemenl ol Fuiantsal Actiwb"e5 also complies wlh the requittmenis lor an In¢ome and Expenditure Account dei Ihe Companies Aci 2006.

Page 2 THE RAILWAY AND CANAL HISTORICAL SOCIETY Acom an Ltmited b Guarantee 8ALAhlCE SHEET AS AT 31 fJECEMBER 2022 Fix•d 89sets Invest￿nIS 59.886 fj8.554 Curr•ni ass•ts Siocks Ooblors Cash al b•nk and In harKI 10.700 1S0 68.741 7,174 1.150 71.915 11 79.591 80.239 Creditor5: amounts lalling du• withln on• ye•r 12 18.594) 114.7681 Nel ¢urienl aS5eis 70.997 65,471 Totsl assots less cutfÈnt liabilitles being nel assets 130.883 134.025 Funds Restricted ILtnd5 Unre5triCled ful￿5 15 53.089 77.794 58.5¢7 75,SIB 1S 130.a8J 134,025 The company is enlived to the eyernplion Irorn the authl req￿l￿nent containeLI in 5ecknn 477 01 Ihe Compar#es Act 2DQS, for the year ended 31 December 2022. No member ol the company has depts5iled a noti¢e, pu¥$uanl to sethion 476. ￿qUIr￿9 an oflhese ac¢owrts. ThE.Yrusiees' resptsn5ib1l￿es lor EllSUi¥W Ih31 the company keeps a¢couniin9 iec4ids which wmrAy-wilh section 38e ol Ihe Acl and for piepann9 accounis grve a true anLI lair v¥ew of the slate of alfairs ol the company as at the end of the financial yeai and of ils In¢oming resource5 and applicalion c¢f resources. In￿l￿Ing ils incorn and expenditure. for the finanual year in a¢£ordance wth the requiremen15 01 sethions 394 and 395 anol wt¥ch otheThvise compty with Ihe requtrèments ot the Crffipanie5 kl 20(￿ ￿l211r9 to accounts. so Iw as appI￿able Ip th cornpany. These acetsuNS nave been prppareo in accorL1ance bvlh Ihe kwwsions applicable to companTres svbhi to the srnl companies, reglme. The actounts were approved by Ihe Tfu51ee5 and aullKxized lor issue oft 271h May 2023 12 Oavit1 C Sn* Trust¢0 Company Registration No. 0092231x1

Page 3 THE RAILWAY AND CANAL HISTORICAL SOCIETY Acom an Limited b Guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 DECEMBER 2022 Accountlng policies Charily infoimaiion The Rai￿8Y and Canal Histoftai 5ocleiy 1$ a privale cc¥moany hmhe(I by 9varahlet vcorporaied.in England and Wate5. The ieg"sieied orrKe is 7 Gr05Ven￿ Gardens. W￿10r18. Lond{￿. 5W1W DAF. 1.1 Ac¢ounting ¢Cn¥enlion 7he a¢counis have Deen prepaieo ￿ acu)rOance Mlh Ihe ¢hariWs memorandum and articles ol assooalton, Ihe Companies Act 2006 ènd 'Accouning and Reportin9 by Charities= Slaiemenl of Re¢ommETrded Pracl¢e applicab18 to chariiies preparing Iheii accounts in aGcordanGe wtth lh• Flnancl31 RpptyThn9 Slandard appli￿¥1? I Ihe UK and Republ¢ ol Irelarkl IFRS 1021.los amended aCc￿ntir￿j perbd5 commencin9 Irom 1 January 20161. The chaiily is a P￿blIC Bentfil Enlily ¥Js Llefined by FAS 102. The tharily has 18ken adi'anlage ol the provisi￿1$ in Ihg SQRP foF th3¥iliES ap￿Ying FRS 102 Vpdale Bu#el 1 mol to wepare a s￿leMent of Cash Flows. The actounis have been wepared Ihe hlsiorleal cosl conveniion. The Prin￿￿ aCCoun￿n9 policies adopled are Sel belch¥. 1.7 Going ¢onctrn ThE accounis have been drawn up on a going concrrn ba515. The financial slabilily ol Ihe Charity has been maioiained during 2022, building on lh¢ ch3rKJes nolEd in Ih? las¢ Annual Reptsrt. During 2022 the Ch#rily Shified ba¢k 10 some aspecls ot Ihe Pfe-pandemic delivery modEI. 5u¢h as mote face 10 loce meelin9s. +yJl viith the 35S0¢13ted possibility o¥ k)sin9 the incfeasel reach of Ihe virtual "meeiirtgs orgaThised durirMJ Ihe Cr￿C￿3￿r￿S pandemic belng re¢tsgni5ed. The Trusiee5 have ieviewed lh8 Inancial p054tion and anticipaie (hai Ihe charitywiil be able to continue io Irade ano meel Its liabiliile$ as ihey fall dve foi ihe lorese8aWe Ivlure. be￿g a pei•)d of 12 montns from the sale of approval o( these finanaal stalemenls. 1.3 Chariiable funds Unrestricle¢ lunQs are available for use * the ¢hcie¢KA of Ihe Truslees kn futherance of their chariiaNe oblectives Unless Ihe funds have been designalerl lor olher purposes. Re$lfi¢led funds are svbjecl lo specific condli￿$ b¥ donoes as lo hry Ihey maybe Lfsed. The purpose$ and uses of Ihe resirided fu￿1$ are oui kn the nole5 lo tht accounts. 1.4 In¢omin9 resources Subsviptions 8nd Don3lions are recognFzee on receipl. Income lax recoverable in relal¥oTh 10 intome feceived un¢Jer Ihe &"ft Aid fe9ulaiiLW Ls recogni5ed ai Ihe lirne ol e don3￿"¢n. Le9ac*s are recognised on feceipl w olhenytse rf the charAy has beèn nolilied ol an impendirKJ tlislribulfon. the arnounl is known. and receipt is eKpecled. Other income is recogniitd when Ihe charity 15 legally enlilled to it. alltl any performarKe con¢Jili¢Trs hav¢ been met.

Page 4 THE RAILWAY AND CANAL HISTORICAL SOCIETY an Limrt d b Guarantee NOTES TO THE FINANCIAL STATEME14TS CONTINUED FOR THE YEAR ENDE021 DECEMBER 2022 1.5 Expenditur• Eipendiiure is reco9nized once Ihere is a le9al or ron5Vuctive oWiga¢ion lo make p3ymenl Io a IhirLI party, il 1$ piobable Ihal selllernenl be required and Ihe amounl oflhe obligalion can tje measured re￿ably_ Al expendilufe is accounted IN on an a¢crual$ bast5. All expenses in¢ktdiry support ¢osls ar¥J governance co$1$ afe aifocaied 10 the appI￿able expenditure hea1W￿5. Iffetoverable VAT is ¢hayged agan$l ¢xpendiUYe heading lof whKh il was i￿￿11¢1. 1.6 Fixed a55el inv+stm•n15 FixeLI asset invesimenis are inilialty mea5Uted ai transacb.on ano ate subseouenlly measured ai fair vue ai each reporting dale. Chan9e5 in laif value are recogrrised tn nei incorneJiexpen¢rtu￿I for Ihe 1.7 Flnan¢ial Instrum•nts The Ch31ily only eniers into basic ffftanci Ir6lrumenls Irans3ciK￿s thal resurt in the re¢o9nitson ol financial asseis and liabililies like ira(le and olher debtoFs and c¥edttors. bans from banks and Oihtr ihird parties, loan5 to relaled parties 3nd ￿VeSEr￿enIS in non-putlable ordinary shales. FirsatKial assEls In3t are mtasure¢J ai cosi and a￿￿)nL$ed cosi are assessed al the end ol each reportkn9 period lof obie¢iive evi%YetKe of imparfment. Ilobieciive ev￿ler￿ glinpaiiment is fovnd. an iM￿1rmeN loss is re¢ognt$ed In piofil or loss_ Finanual a55elS and liabilities are ollstl ano Iht nei amwni ￿pOrte{l in the 8alarte Sheei when Ihwe is an enforceabje right 10 sel olf the recogT¥sed amounis and there rs an ￿ten1￿)n io seKle on a net ba￿$ Of to iealise ihe assei and senie ihe liath.ly simuiièneovsty. 1.8 Deblors Traoe and olhet de￿Or5 are te£¢#3nised at tho settlemtnl amtsmi after any discount offe¥ed. Piepaymènls are valued ai the amouni repaid net ol any trade discoun￿ due. 1.9 Crgditors Short lerm ciedilors are meaSu￿d al Ihe Ifansaction prtt. 1.10 Stocks SttJ5 where Ihe re￿slOn affeG15 both current ané lulure peric4Js. The accDun15 ¢0 ThDt m)d￿de any accounlyig esliMa￿S.

Page 5 THE RAILWAY AND CANAL HISTORICAL SOCIEr Acom art Limbted b Guarantee NOTES TO THE FINANCIAL STATEMENTS ONTINUEO FOR THE YEAR ENOED 31 DECEMBER 2022 Donaijtyns and legaciès UnrestrielÈd Restrictod rotal 2022 Fund5 Fund$ 2021 Subscripv'ons Gitt lax recov?r8d OonalK)ns Legac￿$ 20.076 4,618 1.385 20.076 4,618 1.404 20,415 4,410 1,164 1,000 19 26.079 19 26.098 26.989 In 2021. ol Ihe totsl don3liorts and Seg3ciès. 126.964 was from unreslri¢leiJ funds and C25 was from re511￿le funds. Income l¥om ¢harltabl¢ acilvilies nieslrl¢t¢d Funds Rostricled Toial 2022 Total YJ21 Funds Pub￿¢allors income (See nott 14) Conlerence income Evenl inctsme 11.986 11,986 5,814 10.993 14.796 4.658 629 5.814 10.993 22.979 5.814 28.793 2Q.063 In.2021. of Ihe loial income Irom charitable %tiviUes, £15.425 was Irom unreslricled funds and £4.658 was feom itSlri¢ieo funds. Inve5trnenl income Unrestri¢ted Funds Restficled Total Total Fund$ 2021 2021 ve$im8niS Cash 837 413 .129 1.966 413 1,973 1,250 1.129 2.379 1.978 In 2021. of Ihe total investrnenl Inc0￿e. 1837 was Imrn unreslricled lund5 and £1.141 was Irom teslricled lunds. Trugtees. remuneralitrn and benerrt5 No TtUSlees' iemuneraNon or other benefrt5 were paid l(Y Ihe yeai en¢kd 31 Decernbei 2022 nw for Ihe year ended 31 Oecernber 2021. Trust¢¢s' expèns¢5 No Tru51tes wer• feimbu¢seLI office expenses C0S15 dum9 Ihe yeat12021 . £855). Branches The finonclal acllviiles. asse￿ and liabdiiies ol all Ihe chariws bran¢he5 have been inclvded wlhSn thes8 at¢ounl5.

Page 6 THE RAILWAY AND CANAL HISTORICAL SOCIETY Acom an Llmltedb Guarant NOTES TO THE FINANCIAL STATEMENTS CONTINUED FOR THE YEAR ENOED 31 DECEMBER 2022 .¢harllablo expendilur• The charlly undertook aclivis in relation 10 Is tharitst4e wrpjses th the yearas follL)W5'. Unrestrltled Resirlcied Funds Funfls Yotal 2023 Note 2021 DITe¢l ¢ost5 Journal produclion and tlislribulion 8ulklin production 3nd disiflbvii Book pxoduclion and distribut￿n C￿ference expenses WÉb expense5 Zoom expense5 EvEnl expense5 Speclal 9rtyJp$ Book Awards Pl¥Wraph5¢ tolleclion expenses 11,828 3.142 11.828 3.142 9.584 6.913 283 144 10.757 12,065 4.047 8.162 3,621 277 382 629 64 900 595 14 6.913 283 144 10.757 154 1,200 1,200 357 357 36.249 8,113 44.362 30.742 Other ¢harltable ¢osl$ Advenisin9 ènd pubr￿ty Meeting c0515 8ank Chaige5 InsLtrance Sundiit$ 270 270 2.401 703 282 1,576 2.401 703 282 1.576 529 861 1.466 S.232 5,232 3.852 Gov¢man¢e costs Accwnlancy WKI wiew cosis 2.750 2.150 .1.848 Total Charitabl¢ ¢pertdilur 43,631 8.113 51,744 36.442 In 2021.. 01 the tolal charilab￿ eipendi14we. F31.921 was expondilyre Irt)m unie51ri¢led Ivnds and £4.521 was expen￿lI￿re from re511icled lunds. In¥¢strn¢hts 2022 2021 Thv invesirnent5 ale UK Unil Trust$ establishèd lor use by Charlti•$. Balance al l January 2022 Ad¢ilions (Losses) l Gairt5 th Iho year- unrealize(I 68.554 61,752 18,6681- 8,802 Balance è131 December 2022 59,886 68,554 The inve51menls are shown 31 markel wabje and Ihe a99regaie markel vahJ8 al 31 Decernb8r 2022 was 59,886 12021 £68,554). Hislofical Cost ai 1 Janvary 2022 and 31 DKernber 2022 So,￿0 50.000

Pape 7 TAE RAILWAY AND CANAL HISTORICAL SOCIETY Acom an Limited b Guaronlet NOTES TO THE FINANCIAL STATEMENTS CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2022 10 Slo¢ks 2022 2021 gooks held in sio 10.700 7,174 11 Debl¢trs: amoun1$ l•llin9 du• within one year 2022 20Z1 PIEp8yments 150 1,150 12 Credstors.. amount5 falling dut within one year 2022 2021 A¢ciual$ Derer￿tt Income S¢Jbs¢ripiion$ Olher crtditors 2.000 1.8fr9 5.221 1.373 7.654 S.314 8.594 14.768 Deferred In¢c*me Oeferred Inc£￿ al 1 January Resource$ deferred dvrirtg Ihe year Amounls released Irom previov5 years 7.654 5.221 17,6541 7.887 7.654 17,8871 Deferred sn¢tsme al 310ecember 5,221 7,654 Svbscrplions are amounls iereived beloy8 31 De¢•mber lor lowing ￿lendar year

Page 8 THE RAILWAY AND CANAL HISTORICAL SOCIETY Acom an Llmiled b Guarante• NOTES ro THE FINANCIAL STATEMENTS CONTINUED FOR THE YE R ENDED 31 DECEMBER 2022 13 Flnan¢lal In$irum•nis 2022 2021 Flnèw81 assels me85vred ai iait ¥èlue Ihrw and expe￿5111re Flnancial assets mea5ur6d ai e051 59.886 68.891 68,554 73,065 128.777 141.619 Financial lia￿1111¢$ measvred al ¢osl 18,5941 114,768) 18.5941 114,7681 Financvdl as$8ts measured al lalr va￿e 1hrOu￿ inwne and eyndiluie ¢ompf5se Tnvesirnenls Ftnènclal asse￿ measureo at ¢osl com(xise bank balaxes arKI deblors Financial liabditles measwed ai cosl ¢ompris• ol ¢rediltstS 14 Pubueaiion Fund 2022 2021 Wilhin Unreslr¢led Chaiilable Acimly income and expendilvie are Ihe lolowng amounis 80gk Sales Dcn31ton$ 11,920 66 12.291 505 2,000 Sundry Incorne 71.986 14.796 Dedvcl.. osl of S¥les Opening SioGk 8ook Produ¢lion and Liabiiiiies 7.174 11.098 5.278 7.592 18.272 10,700 12.870 7,174 Dedu¢l= C￿ls1ng Sio¢k 7.572 1.865 5,696 2.186 280 Oislfibvlroft Expen5e5 Pook sioiage 8ank Charges 147 9.584 8,162 lThcrease In Putyicali¢)n Fund 2.402 6,634

Page 9 THE RAILWAY AND CANAL HISTORICAL SOCIETY Acom an Limlièd b Guarantee NOTES TO THE FINANCIAL STATEMENTS CONTINUED FOR THE YEAR ENOED 31 OECEMBER 2022 15 Mov¢mtnt in Fund$ Expendilurè arbd Losses At 01.07.22 Ineorne Transfer At 31.12.22 R¢$tri¢ttd Funds Res8ar¢li Fund Cgnfeifrnce Fund Beok Prize FLV 4.244 20.933 33.330 19 5,814 1.129 4,263 19,834 28.992 6,913 5.467 56.507 6.962 12.380 53,089 Unrtstrlcted Funds General Fund Publ￿allon Fund Legaoes Fund 26.443 30,442 18,633 38.322 11.986 38.448 9,584 26,317 32.844 18.633 75.518 50.308 48,032 77.794 Total Funds 134,025 57.270 60.412 130.883 16 An•ty$ls of net 4sset5 between funds Unweslrielèd Rèstfi¢ied Funds Funds TDlal Funds At 31 December 2022 Inveslmenis Cuirtnl a55eis Regi¢)nal bank and Cash balances Olher bank and cash balance5 Oiher ¢urreni as5elS Creditor5 due wrilhrn one year 28.499 31.387 59,886 15.661 31.178 10.850 {8,594} 15,861 52.880 10,850 18.5941 21.702 77.794 53.089 130,883 At 310¢¢emb¢r 2021 Investrnenis Cuyrenl assels Re9icJnal bank and cash balances Olh£r bank and cash balaoce5 Oiher currertl assets Credilors tsve wilhin one yezr 32.900 35.654 68,554 15.897 33.765 8.324 114,7681 IS.897 56,018 8.324 114,7681 22.853 75,518 58.507 134.025

Page10 THE RAILWAY AND CANAL HISTORICAL SOCIETY AGOM an Llmiled b Guarantèe N07ES TO THE FINANCIAL STATEMENT5 CONTINUED FOR THE YEAR ENOEO 31 OECEMBER 2022 17 .Rtgronal Income and E¥yndilute 2022 2021 Withtn UnreslrKted Chariiable klivlty in￿ffle arKI e¥ynd41ure are Ihe f¢kning amounis Ifom the RegTronaS ,kcounls Le9aCy Donations Gifi atd tsx recovered Salgs of Books elc . Event Incomes It)1gresl 1.048 81 73 386 87 629 13 3.219 2.103 Deducl.. Meeting fODm c05 Speake¥s expenses Oihof Eveni Cosis Group ONicers Expenses Sunt1ries 7.011 271 1.675 44M 185 629 45 294 3,259 1.303 Svfplus (401 800 18 Rel)led party disGk15urfr The Tw$iee5 1¥'efe Ihe onty Rela￿d Pan*5 dur#￿ the yeai e￿ed 37 Oecemter 2022 detsils ol 1¥8nsaclions are shown its Noie 6. 19 De$l9nated and Rest¥l¢t¢+J Funds .Oeslgnai¢d Funds Publicolion Fund Thi5 Fund. which is not resirlcled, exisis lo the Socleiis of bths. Le9acy Fund Th¥s Fund consisls of proceeds ol k90¢ies tecewed by the£ha¥ity Ifoffi mtmbpis.11 is a reslricleo fund and can be used loi apptopriaie thariiabk PWPD5es •1 the ¢JisCreli￿l ol Ihe Society.

Page'11 THE RAILWAY AND CANAL HISTORICAL SOCIETY Acom an Limited b Guarantee NOTES TO THE FINANCIAL STATEMENTS CONTINUED FOR THE YEAR ENDEO 31 DECEMBER 2022 19. OeslgAaied and R¢slrl¢led Funds {c¢ntd..I Restii¢td Fund5 R¢$¢ar¢h Fund Ttws Furyo 15 fingnced by ¢onaiions Ifcrfn meffibe￿ arid exlsi$ 10 provlde financial è55151ance to persoAB undertakln9 reseafch th sulla￿e fields. Conl¢ren¢e Fund The Soctely has ieceiveo rnonies Irom olher bodies so Ihal the ScKiely laka over the admln4$tral(on. INOT Ihe 01ganisalionl of s¢)me Earty Railway Conlerences. These amounis ale restried lo Ihal purpose and if the Soc4eiy WislLed lo slop 3dminisiering the confere#ces, they ￿￿Uld need ID be liansferred Ict the $￿CeSs01 orgardsaiion. Any syrplu$ Incorn? from Ihesg ¢onference5 is added lo the Fun¢. Book Prize Fund Thi5 Fun(¢ is finanGed by the le9acy Da￿d Sl John Thomas. The capital end incomè tsf the furtfl may onty be used lo fund Ihe anDu31 prize5. The 8dmlnislralfve expenses involved are bomè by Ine So¢ieiys General Fund. 2Q Capiial rhe ch3rily is limileL1 by guarantee. Every member ol Ihe chariiy undertakes 10 9uaianiee Ihe liabikiies ol the charity in Ihe eveni of lh8 53me being %￿Und up ￿[h Bucty an arnouni as may èe requiied bul rtol exceeding £1,

Page 12 THE RAILWAY AND CANAL HISTORICAL SO IETY Acorn an Limiiedb Guaiant INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDEO 31 OECEMaER 2022 Indtpendenl Examiner's Reptsrf lo the Trusiees ol Railway and Canal Hisiolical Society I resjwl lo Ihe Tluslees are d150 Diieciof5 for ouwpose ol ¢offrfwy- L7wI on my etsmiD31iOTr 01 Ihe financi01 siaiemertis ol The Railv4ay an(1 Canal Hisioi?¢al Swely I'lhe Chaiiiable Conipany or Ihe Ch31ily'l for IhE yeèr ended 31 Oecembei 2022 IhE Slèiemenl of Finènoal Acbwlie5. Ihe Balance 5heel ano idaied noiès. Trus report 15 made 501ely ￿ ine Chairiy $ Tr&siees. as a body. in accordarKe ￿1h 5e¢iion 145 of the Chaiiues Aci 2011. work has been Ltndorfaken so Inal l rnx3ht slale lo the Chafity'$ TNSiees Ihose Thiiers l arn f8QLiieo 10 ale its Ihern In Ihis report and lor no nlher puipose. To Ihe ful￿$[ exleni ￿rMIlled by lo¥¥, I do nol accepl N assume iesponsibilily 10 anyone Olhcr than rhe Charily and Ihe Charily's Tiusiees as a t¥)dy, my work. foi this let￿rt, nr foi Ihe oplnions I h3ve lor￿￿￿ Resportsibiiiiles and bas16 of feport Ag lh¢ Truslees of Chan￿{e Company you are ¥esponyble tne prepBrai)n of the financial ￿aleMen15 in accordance wilh Ihe requiiemeni$ oi Ine Compor4es Acl 20rffj I'lhe 2Cth Aci'i Having satisfied mysell thai ￿e fKnoal atemeNs ol ￿ Chariiabie Company ath iequ¥Ed ir) be au¢Jiled u•Oei P¥rt 16 of Ihe Act al￿ are eligible loi i1￿epeA￿l examthalK)n. I rewjrt ￿ ie¥ecl ol my exarninalion ol the Cnahiablt Company's financial siaiemenls caicieo oul under seclw 145 vl Ihe Chari5 A¢1 2011 I'ilie 2011 Acll and in ¢•rrying my examinaiii)n I nave WoYée(l an Ihe ap￿￿ble threcihins9i¥en by Its Charify CommiswoTh undev Section 145(5Xbl of Ihe 201 I A An independeni examinaiion does not ifivdve gaitrin9 all the ewderte Ih¥i wouks be ￿QuIre0 in an audil and consequeniiy (loes n(x Lover all the mailers Ihal an audiior COns￿etS IA 9lving ihe¢r opinion on Ihe fin3nc&31 8iaiem¢nis. Tlie planntrng and condlici nf an Owlil gos beyond Ihe Ivoilpd assuran￿ Ihai an independenl 6xamlnaiior can ptowde. Con$8quenity l expre55 Owion a5 lo whBlhor lh8 fNiancial 51alemenis presenl a Irue and view an¢ my repofl Is imiietj lo Ihose specifK matters sel rAJl In lh8 Ind¢Dendenl Examinerfs Sltiemenl. Ind•ppndeht ExaminEI'S SlatemEni I haye compleied my exarninai￿n. I conflrm th31 ￿ maieiial maiieis have C4yne its my aiienion in cOn￿rI10n 71h Ihe exaftMn¥iion oi¥iThJ me cause 10 be&eve thal tn any maierial [esp￿l- lil a¢couniing fecoids Thwe not k¢pi in respe¢l ol Ihe Chariiablo Company a$ iewiieo i>y seEli(￿ 386 of ihe 2006 Acl-. or Iv) the finanoal slalemenls 00 nol accoid %ilh Ih06e recoro5.' or Iiiilihe financial slaiemenis Jo 5701 Comply Wilh Ihe accounlwL9 re4￿11￿men15 gf seuion 396 of Ilie 2006 A¢1 Olhei Ihan any reswtremenl thai Ihe f+nancial si8iements a 'liue orKS f#ii view 14hiEh & nol ? maller Cons￿lere1 as part o18n indepen(lenl examinalion.. livllhe fin3ncl siaiemenls have been pr¢p3rel Ih accordance 44•1h IhE melliods aott princwes ol the Sialtmenl of Recornmended Praciice fw accounling and rEtrtirJ ty cnarilies appI￿abl} 10 ¢h8rilies preparing Ih¥¢ accwnls in a¢cordan¢e Ihe F¢nac¢iai Rep￿1￿9 Slantlbid aP￿IcaNe iry Ihe UK ano Republic ol lieland (FR5 1021 I h8ire no con¢ein$ and have corne acros5 no other mètlers in ¢onneciiM wiul Ihe examination lo w￿h aiieniion Should be (Jraivn in t￿$ report in Drd•r io enèble a proper undersigr￿i￿j ol the final￿al Slaiemenis Io De rexhed. lim￿hY O'connor FCA For S8 Audit LLP 830 The Cr85C8ni Colcheslct Business P•k Colch¢slcf. Essex C04 gyp