# **THE RAILWAY AND CANAL HISTORICAL SOCIETY** 

## **(A Company Limited by Guarantee)** 

**Charity Registration Number: 256047 Company Registration Number: 00922300 (England and Wales)** 

## **AMENDED** 

## **TRUSTEES’ REPORT AND FINANCIAL STATEMENTS** 

**For the Year Ended 31 December 2023** 

**7 Grosvenor Gardens** 

**Victoria London SW1W 0AF** 

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## **THE RAILWAY AND CANAL HISTORICAL SOCIETY** 

A company (No 922300) limited by guarantee and registered in England as a charity (No 256047) 

**Railway and Canal Historical Society Annual Report 2023** 

_The Trustees, who are also the Company Directors for the purposes of the Companies Acts, present their Report for the year ended 31 December 2023._ 

**Reference and administrative details:** 

**Charity registration number** 256047 **Company registration number** 00922300 (England & Wales) **Registered office** 7 Grosvenor Gardens, London, SW1W 0AF **Website address** www.rchs.org.uk 

## **1. Trustees** 

Grahame Boyes Nicholas Higton Bob Bramson Gerald Leach Roger Brice Philip Lloyd (to 27 May 2023) Philip Brown Patrick Moss Peter Cleasby (from 27 May 2023) David Smith Peter Cross-Rudkin Roger Taylor (from 27 May 2023) Jane Ellis Andrew Wager Bob Haskins Ian Willis (from 27 May 2023) Rob Shorland-Ball (from 9 December 2023) 

## **2. Principal officers** 

President Gerald Leach Hon Secretary Ian Willis Hon Treasurer David Smith Managing Committee Chairman         Patrick Moss 

**Independent Examiner** Scrutton Bland Limited, Fitzroy House, Crown Street, Ipswich IP1 3LG 

**Bankers** CAF Bank Ltd, 25 Kings Hill Avenue, Kings Hill, West Malling ME19 4JQ 

**Investment managers** CCLA Investment Management Ltd, 1 Angel Lane, London EC4R 3AB 

## **3. Structure, governance and management** 

## **a. Governing document** 

The Society is a company limited by guarantee, being governed in accordance with its Memorandum and Articles of Association dated 21 October 1967 (as subsequently amended).  All members undertake to guarantee the liabilities to a maximum of £1 each. 

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## **b. Membership** 

Membership of the Society is open to anybody interested in the history of transport, on application in writing and payment of the subscription. 

## **c. Trustees** 

The members of the Council are the Trustees of the Society and are Directors for the purposes of the Companies Acts. 

The Council comprises the President, up to eight Vice-Presidents, Hon Secretary, Hon Treasurer, one representative from each Regional Group and not fewer than six nor more than twelve members elected at the Annual Meeting. Although the election process does not guarantee it, in practice it is found that it yields a suitable balance of academic, professional and managerial expertise.  New Trustees are given copies of the constitution, notes of guidance on the Society’s organisation and processes, and the Charity Commission’s publication ‘The Essential Trustee’. 

## **d. Management** 

Policy issues are decided by the Council, subject to any decisions made at General Meetings.  During 2023 the Managing Committee and Council tended to meet together to ensure maximum engagement of the latter in the strategic direction of the Society. 

The Publications Committee deals with books and booklets published by the Society and offered for sale through the website shop.  Other ad hoc ‘task and finish’ committees are established when necessary. 

## **e. Personnel** 

The Society has no employees.  All activities are undertaken by volunteers who are reimbursed only for necessary approved expenses. Members of the Publications Committee each receive a copy of all books published by the Society. 

## **f. Related parties** 

The Society works cooperatively with other transport and historical societies.  It is a corporate member of the Inland Waterways Association and the Association for Industrial Archaeology.  The Society nominates a member to be on the Council of the Canal & River Trust. 

## **4. Risks** 

The Society remains solvent but certain longer-term issues, identified in the previous annual reports, continue to cause concern. 

- Membership fell by 5.8% due to both deaths and resignations.  The 21% reduction in new members – from 47 to 37 – is a clear cause for concern, as is the tendency for new members to drop out within four years. 

- Lack of volunteers for administrative positions in the local and national structure continues to be an issue. 

There has been no discernible improvement in these features of the Society. Membership has declined slightly but given the estimated age profile of existing members, the possibility of an increased rate of decline in membership through natural causes is a potential risk. 

## **5. Key Comments on 2023** 

- The financial stability of the Society has been maintained during 2023, building on the changes noted in the last Annual Report. During 2023 the Society resumed most aspects of the pre-pandemic delivery model, such as face to face meetings, walks, visits and residential weekends. 

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- The organisation and management of the media archive received significant attention during 2023 and a dedicated group has continued to make substantial progress that is reported below. 

- No Young Researcher Awards were made during 2023 but the Council and Managing Committee have decided to develop more effective use of research funds, particularly related to further development of the Media Archive as a tool for researchers. 

## **6. Objective** 

The Society’s charitable objective is: ‘To promote, encourage and co-ordinate the study of the history of railways, canals and transport.’ 

Currently the principal methods of achieving this objective are: 

- Providing forums for discussing and furthering research into British transport history. 

- Publishing quality research; and 

- Organising conferences, speaker meetings and visits to places of interest. 

## **7. Charitable activities** 

## **a. General** 

The Trustees have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers and duties. 

## **b. Publications** 

_**Books**_ : One new title was published in the year 

_Festiniog Law: the shaping of a pioneering railway_ by Stephen Murfitt _._ This book was well received. It gives an account of the more important aspects of railway law as it influenced the development of the Ffestiniog and Welsh Highland Railways (FWHR), from the inception of the Festiniog Railway Company in 1832 to the present day. 

_**Digital:**_ All of the following publications are available on the RCHS website to everyone. 

_A Bibliography of the History of Inland Waterways, Railways and Road Transport in the British Isles, 2022._ This bibliography of transport books and publications, edited by Matthew Searle and Grahame Boyes with the assistance from a number of RCHS members, was placed on the website. 

_Railway Passenger Stations of Great Britain – A Chronology_ by Michael Quick.  This was originally published as a book.  It has now been updated and converted to a digital version by Ted Cheers. 

_Chronology of Modern Transport in the British Isles 1945-2023_ compiled by Matthew Searle.  This is a publication of significant events in the history of transport and communication since 1945. 

_Transport Anniversaries_ compiled by Matthew Searle.  At the beginning of each year the society produces a list of transport history anniversaries. These include events from 25, 50, 75, 150, 175, 200, 250, 300 and 400 years prior to the current year. The list for anniversaries falling in 2024 was published online during December 2023. 

_**The Journal**_ : continued to be produced and distributed without any interruption to its normal schedule during 2023. The usual three issues were produced and numbered 246-248 and represented parts 1-3 of volume 41.  These issues contained 19 major articles (11 on railways, 4 on 

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waterways, 2 on roads and 2 on ferries) together with the usual obituaries, book reviews and items of correspondence. The number of book reviews (69 over 36 pages) declined compared with those of previous years.  Matthew Seale continued as Reviews Editor and maps are now regularly produced by John de Havilland. 

_**The Bulletin** :_ continues to be a bi-monthly publication intended for RCHS members only.  Rob Shorland-Ball, the Bulletin Editor, has made it lively and attractive.  Besides reports of upcoming Regional Group events and Special Interest Group activities, members submit pictures and stories of historical interest about railways and canals.  It does not contain anything that non-members who chance upon it should not see and it may encourage some to join the Society. 

_**The Road Transport History Association (RTHA)** :_ The RTHA was wound up in December 2022 and we were given the opportunity to host their complete journal archive.  It consists of 110 editions of their journal for the period from 1991 to 2022 and 6 supplementary papers. This archive is now on the RCHS website and is available to everyone. 

## _**c.**_ **Website** 

Website security continued to be monitored and, whilst no security breaches were reported through the year, additional measures were taken to ensure continuous smooth operation of the website for both members and visitors. 

Net sales through the website shop of £11.2k, from approximately 400 orders, were well down on the £24k of 2022, but that year the shop was used for the spring weekend bookings (which it wasn’t in 2023) and there also had been a release of Early Railways Conference papers.  Book sales at £3.2k (144 books) were down on 2022’s £7k, probably reflecting personal economic realities.  £6k related to Membership products, including 33 new members. 

The sending of email updates by Roger Taylor, usually with two issues per month, on upcoming Society activities continued to receive positive feedback.  Efforts were initiated to add more items of interest to the members only area of the website, and plans were put in place to further this effort during the year.  The web team focused on updating the Home Page to keep it topical, informative and attractive to both members and other visitors to the website.  Assistance was provided to both the SIGs and the Regional Groups in keeping their pages up to date.  The archive of SIG newsletters and research available to members continues to increase.  Thanks are due to the small group of members assisting with these efforts and who, along with the core web team led by Roger Brice, can take pride in what is available from the website.  However, there is more that could be achieved if additional volunteers come forward. 

The _Enhanced Search_ facility continues to be a substantial benefit to members.  It allows you to enter a name or phrase; then it searches the entire publications database and lists all the documents where that name or phrase is found.  You can then drill down to any of these documents and view the text where it appears. 

## **d. Media Archive** 

During 2023, further progress was made with the Media Archive, which now includes 95,000 photographs, maps, engineering drawings, etc. Further notable Collections added during the year included the railway photographs of Stephen Duffell and Allan Brackenbury (a Society member since 1958), and the canal photographs of the late Stanley Holland. Around 54,000 of the images have either been scanned from hard copy prints, negatives and slides, or came to the Society as digital camera photographs. These digital images are being lightly edited where appropriate, prior to uploading to the RCHS Online Media Archive. 

As a related activity, the very extensive photographic Collection of the late Ian Moss, a Society member since 1960, is being scanned and catalogued by his sons (both Society members) and, in due course, will be added to the Media Archive. 

Some of the images came with a comprehensive caption, but in other cases it is very brief, so a vital task for knowledgeable Society members is to caption each image. Once online, comments can be 

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posted to correct or enhance the caption information. The “Zenphoto” software utilised for the Online Archive has proved to be very suitable for our needs and continues to be enhanced under the technical leadership of our member, Adrian Moss. At the end of 2023, there were 9,768 images online, arranged into over 700 thematic album pages, and all free to view. 

Collections currently being worked upon by our 33 volunteers include those of our late members Bertram Baxter, Hugh Compton, Ray Cook, Dennis Hadley, Edwin Shearing, Jeffrey Spence and Rodney Weaver, together with those of Stephen Duffell and Allan Brackenbury. 

## **8. National Activities** 

- **a.** The _Society’s AGM_ was held in Birmingham on 27th May following the presentation of the annual _RCHS Transport History Book of the Year_ awards. 

- **b.** _Clinker Memorial Lecture_ :  The lecture was delivered by John Nelson, a career railwayman who worked in both the public and private sectors.  “(Not So) Open Access” covered this topic of railway history after privatisation.  Attendance was limited on the day due to industrial action on the trains. The presentation was made available to a wider audience through a recording placed on the website, attracting a total of more than 166 further viewings. 

## **9. Regional Group Activities** 

- **a.** _East Midlands:_ During the year the group held a programme of eight lectures attended by an average of 14 members per meeting and seven outings attended by an average of 13 members.  There were five committee meetings. 

- **b.** _London_ :  The group restarted its activities and had its first meeting at a new venue, the Alan Baxter Gallery, Farringdon.  A full and diverse programme for 2024 has been set up. 

- **c.** _North East:_ Six meetings were held. Four of these were held at our regular venue of York Explore Library in the centre of York. The other two were held by Zoom. 

- **d.** _North West:_ During 2023 the North West Group held 7 lecture meetings with subjects including the History of the Manchester, Bolton and Bury Canal, Navigation Road and All That, High Over the Alps – the Rhaetian Railways World Heritage Line, the Lives of the Boat Families who Worked on the Long Distance Narrow Boats, Oral Histories of the Great Central Railway in the East Midlands, and Railways around Preston from 1880.  The average attendance was 22.  The Group had 11 walks in the areas of Woodley, Chorley, Whelley, Preston Brook, Lancaster, Rufford, Trafford Park, and Poynton where there was a Christmas lunch. 

- **e.** _South West_ : This regional group, formed in 2021, covers south-west England and south Wales.  The group is administered by a small planning team, which arranged a 2023 programme of diverse, educational and entertaining activities.  In some cases this was through working with other organisations which has proved to be very beneficial to all parties.  We put together a September weekend of interesting activities in Devon.  This included canal walks, visits to railways old and new, a tour of the Railway Studies Collection at Newton Abbot, and convivial dinners in Exeter on two evenings. 

Visits were arranged to Bridgwater/Highbridge, to Chippenham and to the Somersetshire Coal Canal. We had Zoom talks on the Exeter Ship Canal, the Looe and Caradon railway, and several in-person 

- **f.** _West Midlands:_ There were five live talks held at the Birmingham & Midland Institute during the year. No outdoor or promotional events were held during the year. 

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## **10. Special Interest Groups (SIGs)** 

- **a.** _Pipelines and Materials Handling_ : This Group was inactive during 2023 and the position of group    coordinator is vacant.  Its continued existence will be reviewed by Council during 2024. 

- **b.** _Road Transport_ : The group issued a listing of all Occasional Papers from 1992 to 2023 all of which are available to members by download from the website.  Only one Notes & Queries paper was circulated in 2023. 

- **c.** _Air Transport:_ The group co-ordinator is now John Nestor.  He issued two newsletters during the year, each containing 13 items.  Membership of the group is 37. 

- **d.** _Early Railways_ : At the end of 2023 membership of the group stood at 210 an increase from 201 at the end of 2022.  Seventeen new members joined the group in 2023.  There was, however, one resignation, whilst a number of non-active email addresses were removed from the mailing list, hence the overall increase in membership by nine people from the 2022 figure. No new Occasional Papers or Circulars were distributed this year.  However, they restarted in early 2024. 

- **e.** _Modern Transport:_ The group published four newsletters that appeared throughout the year covering all aspects of contemporary transport issues.  A talk on a modern transport subject, the building of the HS2 Curzon Station in Birmingham was given on 18 November 2023 by the West Midlands Group at the Birmingham & Midland Institute. 

- **f.** _Railway Chronology:_ Although the membership of the group increased to 133 during 2023, the level of contributions for circulation within the group continued to decrease leading to just one 15-page newsletter and five mailings being produced during the year. An updated version (5.05) replacing version 5.04 of Michael Quick’s “Railway Passenger Stations of Great Britain” was released during September on the RCHS website containing additional updated information provided by the author. 

- _**g.** Railway History Research_ : There was a gratifying, albeit small, increase in the group’s membership during the year – up 8 to 100.  However, group activity was slightly muted compared to recent years, with only 21 circulars issued during 2023.  These included 5 ‘notes & queries’ (2 of which resulted in multiple responses from group members) and 15 ‘occasional papers’ (with 3 generating follow-up discussion within the group).  Material from the circulars was consolidated into newsletters in February, August and December, which were emailed to group members and archived to the members’ area of the website, along with an updated cumulative index of all articles. 

- **h.** _Waterways History Research_ : The group continued to be very active during the year.  The group submitted 15 Notes & Queries and several Occasional Papers, Photograph Queries, Reprints and Sources Papers, which are all available to members on the website. 

**11.** _Internet Discussion Group_ : The Internet Discussion Group continues to be active, posting an average of 59 messages a month. Membership is 75, nine more than 2022. This Group is sponsored by the Society but is open to, and welcomes, non-members who wish to join. 

## **12. Other charitable activities** 

- **a.** _Research and the academic community_ :  The Society offers an annual award for the best paper, 4,000 to 6,000 words in length, submitted on a subject related to transport history by a person under the 

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age of 30, with the winning paper and any others deemed worthy being published in the _Journal_ .  No papers were submitted during 2023. 

- **b.** _Research grants_ :  No grants were made during 2023. 

Developing a more effective use of the Society’s research funds will be addressed during 2024. 

## **13. Transport History Book of the Year Awards** 

2023 marked the twentieth year of the Society’s Book Awards.  Based on recommendations from its panel of book reviewers, the judges short-listed seven titles for consideration from the 84 books reviewed in the _Journal_ issues of July and November 2022 and March 2023.  Three category winners were announced at a ceremony in Birmingham on 27[th] May, immediately prior to the Society’s AGM. 

The Railway History prize was awarded to _Alfred Raworth’s Electric Southern Railway_ by Peter Steer, published by Pen & Sword. 

The Reference Work prize went to _Birmingham & West Midlands Railway Atlas (Second Edition)_ by Joe Brown, published by Crecy Publishing. 

The Canal & Waterways prize went to _Waterways and Means – Power, Money and Folly in Irish Waterways History_ by the late Brian Goggin, published by Troubadour Matador. 

The judges chose _Waterways and Means_ as the overall 2023 Transport history Book of the Year.  The President presented awards to Peter Steer and Brian Goggin’s wife, Anne.  Unfortunately Joe Brown was prevented from attending by an incident on the railway, so his publisher stood in for him. 

## **14. Social Media and other publicity** 

Regular Facebook posts were made during the year, including notification of all RCHS meetings and walks where the organisers had provided appropriate descriptions of the event. Details of new Society publications were announced, together with invitations to join the Society, and various special offers. Transport history news items from external sources were also occasionally posted so that, in total, 150 illustrated posts were made in 2023, reaching a worldwide audience of 1,200 "followers", including RCHS members and those who might be enthused to join the Society. 

The Clinker Memorial Lecture was advertised in Railway Magazine. 

## **15. Membership** 

Membership fell by 5.8% during 2023. New memberships decreased and both lapsed memberships increased. 

## **Total memberships on 31 December 2023** 

|**Category**|**At End 2023**|**At End 2022**|**Change during 2023**|
|---|---|---|---|
|**Individual memberships**|661|693|-17|
|**Joint Memberships **|46|50|-4|
|**Student memberships**|12|20|-8|
|**Complimentary memberships**|2|2|0|
|**Total Memberships **|**721**|**765**|**-29**|



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## **Changes During 2015-2023** 

||**2023**|**2022**|**2021**|**2020**|**2019**|**2018**|**2017**|**2016**|**2015**|
|---|---|---|---|---|---|---|---|---|---|
|**Beginning of Year**|765|793|776|795|795|795|799|824|825|
|**New memberships **|37|47|69|54|63|48|43|43|50|
|**Less deceased members**|-13|-13|-15|-16|-18|-16|-14|-6|-14|
|**Less resignations**|-26|-27|-18|-28|-29|-15|-24|-36|-18|
|**Less lapsed & un-lapsed**|-42|-35|-19|-27|-20|-20|-9|-25|-19|
|**Individual to Double &**<br>**_vice versa_**||||-2|4|3||-1||
|**End of Year**|**721**|**765**|**793**|**776**|**795**|**795**|**795**|**799**|**824**|



## **16. Financial review** 

The Financial Statements of the Society show a satisfactory position for the year ended 31st December 2023. The Funds of the Society increased by 9.5% over the previous year mainly due to two factors. 

Firstly, the market value of our Investments rose by £4,624.  This value inevitably goes up and down day by day. During 2023 the values went up by £ 4,624, but in 2022 the values went down by £8,668. We bought the investments for £50,000 towards the end of 2016, so even at 31st December 2023 they were worth £14,510 more than the cost, and we are receiving about 3% income each year. 

Secondly, the income of the Society increased by £3,064 over the previous year mainly due to a donation of £2,000 received from the RTHA on acceptance of their online publications archive, and to an increase of £1,426 in interest received on our cash balances. 

Subscription income for 2023 was £19,688 and Income Tax recovered under the Gift Aid scheme was £4,174, both figures being slightly less than the previous year due to the reduction in membership. 

Our other sources of income are mainly from Events, including meetings arranged by the Regions, and sales of Books. These items of income generally give rise to associated costs, and although the figures vary from year to year, they do not have a great effect on the excess of income over expenditure shown in the Accounts. 

The number of physical meetings during the year increased substantially to nearer pre-pandemic levels. Consequently both the costs of £14,971 and the income of £15,140 were well over a third more than in 2022. However, they still generated a small surplus.  Some of the lectures continued to be offered as a mixture of in-person and remotely by electronic means to reach a wider audience but were contained within these costs. 

Bulletin costs continued to decline by £1,637 compared to the previous year as nearly all members now accept e-mail copies.  However, the Journal costs increased substantially by £2,376 over the previous, mainly due to increases in the cost of postage as this publication is despatched to all members. 

Bank Charges, which totalled £535 in 2023, including costs associated with Book sales were reduced from the previous year due to a greater use of bank transfers by members and the use of fewer cheques.  We use the Charities Aid Foundation bank which offers banking facilities similar to the main clearing banks. 

Similar to most organisations our cost of insurance increased to £414 (2022 - £282), but is still a lot less than in previous years. 

The Society is financially well able to carry out its charitable obligations, but it is dependent on members being willing to arrange its activities, and on the recruitment of new members 

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## **17. Plans for 2024.** 

## **Among the priorities for action in 2024 are:** 

- Developing means to attract new members through targetted advertising. 

- Encouraging more research with a particular focus on the period since 1990. 

- Continued development of the Media Archive. 

- Improving the communication of the Society beyond its members through social media and a revised membership brochure. 

- Consolidating the progress made in managing costs while delivering our charitable aim. 

_The report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime._ 

_Approved by the Council, Ian Willis_ ( _Hon Secretary) 17[th] September 2024_ 

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Gt.TVe fj2130
THE RAILWAY AND CANAL HISTORICAL SOCIETY
Acom
an
Limited b Guarantee
Financial Statements
For the Year Ended 31 December 2023

Page 1
THE RAILWAY AND CANAL HISTORICAL SOCIETY
Acom
an
Limited b Guarantee
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
Uniestricted Restricted
Funds
Funds
Total
2023
Total
Notes
2022
Income
Donations and legacies
Charitable activities
Investments
27,669
28,085
2,679
27,669
28,896
3,769
26,098
28,793
2,379
811
1,090
Total income
58,433
1,901
60,334
57,270
enditure
Charitable activities
48,643
3,943
52,586
51,744
Ex￿sS of income over expenditure
9,790
12,0421
7,748
5,526
Net Ilossèsl I gains on Investments
Unrealised {losses) I gains
3,442
1,182
4,624
18,6681
Net movoments in funds
13,232
18601
12,372
13,1421
Fund balances al 1 January 2023
77,794
53,089
130.883
134.025
Fund balances al 31 December 2023
15
91,026
52,229
143,255
130,883
The Ststement of Financial Activities includes all gains and losses reeognised in the current and prior years.
All income and expenditure derive from continuing aclivilies.
The Slalement of Financial Activities also complies with the requirements for an Income 8nd Expenditure Account
under the Companies Act 2006.
12

THE RAILWAY AND CANAL HISTORICAL SOCIETY
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Page 2
BALANCE SHEET
S AT 31 DECEMBER 2023
2023
2022
Fixed assets
Investments
64,510
59.886
Current assets
Stocks
Debtors
Cash at bank 8nd in hand
10
9.231
826
79,411
10.700
150
68,741
89,468
79.591
Creditors.. amounts falling due withln
one yèar
12
110,7231
18.5941
Net Gurrent assets
78,745
70.997
Total assets less current liabilities belng ngt 0$8ets
143.255
130,883
Funds
Restricted funds
Unreslri¢led fund$
15
15
52,229
91,026
53,089
77.794
143.255
130,883
The company is entided to the exemption from the audrt requirement contsined In séction 477 of the Companies
Act 20(￿, for the year ended 31 December 2023. No rnembÈr of the company has deposrted a notice, pursuant
to section 478. requiring an audit of these accounts.
The Trustees. ￿Sponsibl1111es for ensuring thai the company keeps accounty.ng record5 which comply with
section 386 01 the Act and lor preparing accounts which give a true and fair view of the state of affairs of the
company as at the end of the financial year and ol its Incoming resources and applic8tion of ￿SoUrCeS. including
its Income and expenditure, for the financial year in accordance with the requirernenls of seotions 394 and 395
and which othewi5e comply with the requirements of the Companies Act 2006 relating lo accounts. so far as
applicable to the cornpany.
These atcounts have b8en prepared in accordance with the provisiolls applicable lo companies subject to the
Small compani85' regirne.
The 8ccounts were approved by the Trustees and aulhorized for issue on
2) I4￿- 2024
David C Smith
Trustee
Company Reglstratlon No. 00922300
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THE RAILWAY AND CANAL HISTORICAL SOCIETY
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NOTES TO THE FINANCIAL STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting polleies
Charity information
The Railway and Canal Historical Society is a private company limited by guarantee incorporated in England
and Wales. The registered office is 7 Grosvenor Gardens, Victoria, London, SW1W OAF.
1.1 Accounting convention
The financial slalements have been prepared in accordance with the Charities SORP IFRS 1021- Accounting
and Reporting by Chrities. Slalemenl of Recommended Practice applicable lo charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
IFRS 1021 leffeclive 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of
Ireland IFRS 1021 and the Companies Act 2006.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin
1 not lo prepare a Slalemenl of Cash Flows.
The accounts have been prepared under the historical cost convention. The principal accounting policies
adopted are sel out below.
1.2 Going concern
The accounts have been drawn up on a going concern basis.
The financial stability of the Charity has been maintained during 2023, bLJilding on the changes noted in the last
AnnLJal Reporl. During 2023 the Charity conliued to move back lo aspects of the pre-covid arrangements with
more lace lo face meetings, bul without losing the increased reach of the virtual meetings. organised during Ihe
covid virus lock down. The Trustees have reviewed the financial position and anlicipale that the charity will be
able lo continue lo trade and meet ils liabilities 8S they fall due for the foreseeable future, being a period of 12
months from the dale of approval of these financial slalemenls.
1.3 Charitable funds
Unrestricted funds arg available for use at the discretion of the Trustees in furtherance of their charitable
objectives unless the funds have been designated for other purposes.
Restricted funds are subject to specific conditions by donors as lo how they may be used. The purposes and
uses of the reslricled funds are sel out in the notes lo the account5.
1.4 Incoming resources
Subscriptions and Donations afft recognised on receipt, except for Subscriptions received
between 1st October and 31st December, which relate lo the following year
Income lax recoverable in relation lo income received under the Gift Aid regulab'ons is recognised al the time of
the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the
amount is known, and receipt Is expected.
Other income is wognised when the charity is legally entitled lo it, after any performance conditions have been
met.
14

THE RAILWAY AND CANAL HISTORICAL SOCIETY
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
CONTINUED
1.5 Expenditure
Expenditure is recognised once there is a legal or eonslruclive obligation lo make payment to a third paty,
il is probable that selllement will be required and the amount of the obligation can be measured reliably.
Al expenditure is accounted for on an accruals basis. All expenses including support costs and
govem8nce costs are allocated lo the applicable expenditure headings.
Irrecoverable VAT is charged against the expenditure heading for which il was incurred.
1.6 Fixed asset investments
Fixed asset investments are initially measured at transaction price and are subsequently measured al fair
value at each reporting dale. Changes in fair value are recognised in the Income and Expenditure Account
for the year.
1.7 Flnancial Instruments
The Charity only enters into basic financial instruments transactions that result in the recognition of financial
assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties,
loans lo related parties and investments in non-puttable ordinary shares.
Financial assets that are measured al cost and amortised cost are 8ssessed al the end of each reporting
period lor objective evidence of impairment. If objectwe evidence of impairment is found, an impairment
loss is recognised in profit or loss.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is
an enforceable right lo set off the recognised amounts and there is an intention to settle on a nel basis or lo
realise the asset and settle the liability simultaneously.
1.8 Debtors
Trade and other debtors are recognised at the selllemenl amount after any discount offered. Prepayments
are valued al the amount repaid nel of any trade discounts due.
1.9 Creditors
Short torm cr8dilors sre mea¥ured at the Iran5aCtion price.
1.10 Stocks
Stocks are of Books for sale and are slated al the lower of cost and estimated selling price.
1.11 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held al call with banks, other short-term liquid
Investments with original maturities of three months or les5.
Critical aceountlng estimates and judgements
In the application of the chaiity's accounting policies, the Trustees are required lo make judgements,
estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent
from other sources. The eslimales and associated assumptions are based on histoncal experience and
other laclors that are considered lo be relevant. Actual results may differ from these eslimales
The eslimales and underlying assumptions are reviewed on an ongoing basis. Revisions lo accounb.ng
eslimales are recognised in the period in which the estimate is revised where the revision attecls only that
period. or In the period of the revision and future periods where the revision affects both current and future
periods. The accounts do not include any accounting estimates.
15

THE RAILWAY AND CANAL HISTORICAL SOCIETY
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an
Limited b Guarantee
Page S
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
CONTINUED
Donatlons and legacios
Unrèstricted
Funds
Restrlcted
Funds
Total
2023
Total
2022
Subscriptions
Gift aid tax recovered
Donations
Legacies
19.688
4,174
3,807
19,688
4,174
3,807
20,076
4,618
1,404
27,669
27,669
26,098
In 2022. of the lolal donations and legacies, £26,079 was from unrestricted funds and £19 was from reslricled
funds.
Income from charitable activltles
Unrestrleted
Funds
Restrleted
Funds
Total
2023
Total
2022
Publication fund income Isee note 141
Conference income
Event income
12,945
12,945
811
15,140
11,986
S,814
10.993
811
15,140
28,085
811
28,896
28.793
In 2022, of the total income from charitable aclivilies, £22,979 was from unrestricted funds and £5.814 was
from restricted funds.
Investment income
Unrestricted
Funds
Rgstricted
Funds
Total
Total
2022
2023
Investments
Cash
840
1,090
1,930
1,839
1,966
413
1,839
2,679
1,090
3.769
2,379
In 2022, of the lolal investment income, £1,250 was from unreslricled funds and £1,129 was from restricted
funds.
Trustees. remuneration and benefits
No Twslees, remuneration or other benefits were paid for the year ended 31 December 2023 nor for the year
ended 31 December 2022.
Trustees. expenses
No Trustees were reimbursed office expenses and travel costs during the ye8r12022 - NIL).
Branches
The financial aclivilies, assets and liabilities of all the charills branches have been included within these
accounts.
16

THE RAILWAY AND CANAL HISTORICAL SOCIETY
Acom
Limited b Guarantee
Page 6
NOTES TO THE FINANCIAL STATEMENTS
CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2023
Charltable expenditure
The charity undertook activities in relation to its charitable purposes in the year as follows..
Unrestricted Restricted
Funds
Funds
Total
2023
Note
2022
Dlrect costs
Journal production and distribution
BLJlletin production and distribution
Book production and distribution
Conference expense5
Web expenses
Zoom expenses
Event expenses
Special groups
Book Awards
Photographic collection expenses
14,204
1,505
8.016
14,204
1,505
8,016
2,343
550
280
14,971
11,828
3,142
9.584
6,913
283
144
10,757
154
1,200
357
14
2,343
550
280
14.971
1,600
1,600
1,660
1,660
41,186
3.943
45.129
44,362
Other charitable costs
Advertising and Publicity
Meeting costs
Bank Charges
Insurance
Sundries
270
2,401
703
2,287
439
2,287
439
414
414
282
1,576
2,117
2,117
5,257
5,257
5,232
Governance Costs
Accountancy and review costs
2,200
2,200
2,150
Total Charltable expenditure
48,643
3.943
52,586
51,744
In 2022, of the lolal Charitable expenditure, £43,631 was expenditure from unrestricted funds and £8,113 was
expendilure from restricted funds.
Investments
2023
2022
The investments are UK Unlt Trusts established for use by Charities.
Balance al 1 January 2023
Additions
Gains I (Losses) in the year- unrealized
59,886
68,554
4,624
18,6681
Ba12n¢e al 31 December 2023
64,510
59,886
The investments are shown at market value and the aggregate market value al 31 December 2023 was 64,510
12022 - £59.8861
Historical Cost at 1 January 2023 and 31 December 2023
17
50,000
50,000

THE RAILWAY AND CANAL HISTORICAL SOCIETY
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Page 7
Limited b Guarantee
NOTES TO THE FINANCIAL STATEMENTS
CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2023
10 Stocks
2023
2022
Books held in stock
9,231
10,700
11 Debtors: amounts falling due wlthln one year
2023
2022
Prepayments
826
150
12 Croditors- amounts falling due within one year
2023
2022
Accruals
Deferred Income
Subscriptions
Other creditors
2,100
2.000
6.947
1,676
5,221
1.373
10,723
8,594
Deferred Income
Deferred income at 1 January
Resources deferred during the year
Amounts released from previous years
Deferred income al 31 December
5,221
6.947
15,2211
7,654
5,221
17,6541
6,947
5,221
Subscriptions are amounts received before 31 December for the following calend2r year
18

THE RAILWAY AND CANAL HISTORICAL SOCIETY
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an Limited b Guarantee
Page 8
NOTES TO THE FINANCIAL STATEMENTS
CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2023
13 Financial Instruments
2023
2022
Financial assets measured at fair value through income and expen(Jilure
Financial assets measured at cost
64,510
80,237
59,886
68,891
144,747
128,777
Financial liabilities measured al cost
(10,7231
18,5941
110,7231
18,5941
Financial assets measured al fair value through income and expenditure comprise investments.
Financial assets measured al cost comprise bank balances and debtors.
Financial liabilities measured at cost comprise of creditors.
14 Publlcation Fund
2023
2022
Within Unreslricled Charitable Activity income and expenditure are the following amounts
Book Sales
11,381
Donations
64
Sundry Income
1,500
11,92D
66
12,945
Deduct..
Cost ol Sales
Opening Stock
Book Production and Liabilities
11,986
10,700
5,342
7,174
11,098
16,042
9,231
18,272
10,700
Deduct.. Closing Stock
6,811
1.109
7,572
1,865
Distribution Expenses
Book Storage
Bank Charge5
96
147
8,016
9,584
Increase in Publication Fund
4,929
2,402
19

THE RAILWAY AND CANAL HISTORICAL SOCIETY
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Page 9
an
Limited b Guarantee
NOTES TO THE FINANCIAL STATEMENTS
CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2023
15 Movement in Funds
Expenditure
and Losses
At 01.01.23
Income
Transfer At 31.12.23
Restricted Funds
Research Fund
Conference Fund
Book Pnze Fund
4,263
19,834
28,992
4,263
18,302
29,664
811
2,272
2,343
1,600
53,089
3,083
3,943
52,229
Unrestricted Funds
Geneial Fund
Publication Fund
Legacies Fund
26,317
32,844
18,633
48,930
12,945
40,627
8,016
34,620
37,773
18.633
77,794
61,875
48,643
91,026
Total Funds
130,883
64,958
52,586
143,255
16 Analysis of net assets between funds
Unrestricted Restricted
Funds
Funds
Total
Funds
At 31 December 2023
Investments
Current assets
Regional bank and cash balances
Other bank and cash balances
Other current assets
Creditors due within one year
31,941
32.569
64,510
14,999
44,752
10,057
110,7231
14,999
64,412
10.057
110,723}
19,660
91.026
52,229
143,255
At 31 December 2022
Investments
Current assets
Regional bank and cash balances
Other bank and cash balances
Other current assets
Creditors due within one year
28,499
31,387
59,886
15,861
31,178
10,850
18,594)
15,861
52,880
10,850
18,5941
21,702
77,794
53,089
130,883
20

THE RAILWAY AND CANAL HISTORICAL SOCIETY
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Page 10
an
Limited b Guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
CONTINUED
17 Regional Income and Expenditurg
2023
2022
Within Unrestricted Charitable Activity income and expenditure are the following amounts from the Regional
Accounts
Legacy
Donations
Gift aid lax recovered
Sales of Books elc
Event Incomes
Interest
982
214
1,048
81
73
2,004
15,140
18
16.354
Deduct..
Meeting room costs
Speakers expenses
Other Event Costs
Group Officers Expense5
Sundries
3,219
1,068
390
14,971
1,011
271
1,675
103
294
16,537
3,259
(Deficilsl
11831
1401
18 Related party disclosure
The Trustees were the only Relalecl Parties during tha year ended 31 December 2023 and details of
transactions are shown in Note 6.
19 Designatgd and Restricted Funds
Designated Funds
Publication Fund
This Fund, which is not reslricled. exists to fund the Society's products'on of books.
Legacy Fund
This Fund consists of the proceeds of legacies received by the charity from members.11 is not a reslricled
fund and can be used for appropriate charitable purposes al the discretion of the Society.
21

THE RAILWAY AND CANAL HISTORICAL SOCIETY
Acom
an Limited b Guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Page11
CONTINUED
19 Designated and Restricted Funds Icontd..)
Restricted Funds
Research Fund
This Fund is financed by donations from members and exists lo provide finaneial assistance lo persons
undertaking research in suitable fields.
Conference Fund
The Society has received monies from other bodies so that the Society could lake over the administration
INOT the organisalionl of some Early Railway Conferences. These amounts are reslricled to that purpose
and if the Society wished lo slop administering the conferences, they would need lo be transferred lo the
successor organisalion. Any surplus income trom these conferences is added lo the Fund.
Book Prlze Fund
This Fund is financed by the legacy from David Sl John Thomas. The capital and income of the fund may
only be used to fund the annual book prizes. The administrative expenses involved are borne by the
Society's General Fund.
20 Capital
The charity is limited by guarantee. Every member of the charity undertakes lo guarantee the Iiabililies of the
charity in the event of the same being wound up with such an amount as may be required bul not exceeding £1.
22

THE RAILWAY AND CANAL
Acom
P8ge12
ISTORICAL SOCIE
an Lim
rantÈe
INDEPENDENT E
MINER'S RepoRT
OR T
YE
NDE
31 DECEMBE
202
Independ•Trt Exarnlne*8 Report to tho Trustees of Rallway and Canal Hlstorf¢al Society
I report lo the Twsiees Iwho are also Directors for the purpose ol company lawl on my 8x8minalion of Ihe ffnancial
Slalemenis of The RaI￿vaY C8nal Hislorital Socieiy I'lhe Charilaty￿ CDmpany' or'lhe Charity) for Ihe year ended 31
De￿Mber 2023 which comprise the Slalemenl ol Financjal Activitses. the Balance Sheel and related notes.
Thi4 report is made solety to Ihe Charity's T￿stEe$, as a body. in accordance with 5ecllon 145 of the Charilles Act 2011
My WOFk has been undemaken so that I muhl slaie lo the Charity's Tw51ees those mailers l am rÈqvired 10 Stale Io Ihem
in this reporf and for no Other purpo$È To the fullest exlenl pertnilleo by law, I do not accept or assume responsibility lo
anyone Olher than the Charity and the Charitvs Trustees as a body, for my work. for this reporf, or for the opinions I have
forrned.
RgsponsibillU&s aTrd basis of rèport
A5 Ihe ITuslees of Charitable Company you are responsibk for Ihe preparation of the financial 51alements in accordance
With the requlremenls of the Companies Aci 2006 l'ine 2006 Acl'l.
Having $81isfied myself thal the financial Slalemenis of the chaii13ble company 8re not ￿qUIred lo be audiled under Part
16 01 the Act 4nd ale eligible lor Indepen(lenl exarninaiion, I iepofl in iespect of My examination of the Chaiilable
Company's financial slalemenis c8rried out under sedion 145 01 Charilres Aci 2011 I'lhe 2011 Ad'l and In Carr￿ng out
my exatninalion I have followed all the applicable Directions given by the Charity Comrnis510n under section 14515llbl of
ihe 2011 Aci.
An Independent exarninalion does not nvolve galherin9 all the e￿dents thai woul¢ be required in an aLhJil and
consequenlly does not cover all the matters that an auditor considers In giving their opinion on the finan¢i31
51aiemenls. ThÈ plannirw) and conduct of èn audil goe5 beyonu the Iimiied assurance that an inlfependenl
examination can provide. Consequenity i expre55 no opinion as lo whether Ihe fin8rLI81 slalemenls preseni
a'lrue and fair, view and my report 15 limited lo those specific maiiets sel oui In the Independent Exminer's
Sialemenl.
Independènt E¥amln&fs Statemfynt
I have comp*ied my examination. I confirm th81 no tnalerial m8llers have cotne lo my aiienlion in conneuion with Ihe
ex&minalion giving me cause 10 believe th41 in any mHler181 respecl..
accounting records were noi kept in rÈ$pe¢l of the Ch8riiable Company as required by Section 386 of the 2￿6
Acl.. or
lif) the finanrxai 51alement5 do not accord with those recor(Is'. or
liiil the finanoal 5ts1emenls do not compty with the accounting requ1￿mentS of sedion 396 01 the 2006 Aci other
than any requirement that thè financial siaiem8nis give a 'irue and fair view which 15 not a maller considered as
P8rt of an indepen¢eni examination, or
Iivllhe fin8ncial statements have not been prepared in 8ccorda￿ with the methods anty principles ol the
Sialemenl of Recommen(led Practi￿ lor accounting and reporting by chaiibes 8pplicable 10 chanlies preparing
Iheir accounts In aceor¢ante wlh the Financial Reporung Standaid applicable in the UK and Republic of Ireland
IFRS 1021.
I have no concerns and have come 8cross Tr) other mallers in connetlion wlh the examination lo which aii8nlion should
l)8 drawn In Ihis report in or¢er lo etTrable a proper understanding of the finanaHI 51alemenls 10 be rÈa¢hed.
John PÈ
For and on behalf of S¢nJtton Bland Limrted
Fitzroy House
Crown Street
Ipswich. Suffolk
IP1 3LG
23