THE RAILWAY AND CANAL HISTORICAL SOCIETY Acom an Limited b Guarantee Charit Re istration Number: 256047 'stration Number: 00922300 En land and Wales Com TRUSTEES, REPORT AND FINANCIAL STATEMENTS For the Year Ended 31 December 2024 7 Grosvenor Gardens Victoria London SWIWOAF
THE RAILWAY AND CANAL HISTORICAL SOCIETY A company INo9223foi 8alnItel)o fewste¥ed in England 35a tharity (No 2560471 Rallway and can Hlstorlcal Sodety Annual Report 2024 The Trustee5. who are otso the CompanyDirertotsfvr the purposes of the Companies Acts psent their Reportfvr the year ended 31 December2024. Reference and admlnlstratfve detail5: Charity registratlon number Company regIStraOn number Re81stsred off(ce Website address 256047 00922300 (England & Wales) 7 GrosvenorGardens, London. SWIW OAF www.rchs.o l. Trustees GTrhome Boyes Bob Bramson Roger Brice Philip Brown Peter Cleasby Peter Cross-Rudkin Jane Ellis Bob Haskins Rob Shorland-8311 Nicholas Higton Gerald Leach Patrick Moss David Smith Roger Taylor Andrew Wager lan Willis 2. Prlnclpal officers President Hon Secretary Hon Treasurer Managing Committee Chairman Peter Cross-Rudkin lan Wlllis David Smith Patrick Moss Independent Examlner 5crutton Bland Limited. Fitzroy House. Crown Street, Ipswich IPI 3LG Banker5 CAF Bank Ltd, 25 Kings Hill AvenJJe. Kings Hill. West Mallin& Kent ME19 4JQ Investment mana8ér5 CCLA Investment Management Ltd. l Angel Lane, London EC4R 3AB 3. Strurture, 8overnance and mana8ement a. Governing document
The Society is a company limited by guarantee, being governed in accordance with its Memorandum and Articles of Association dated 21 Ortober 1967 las subsequently amended)- All members undertake to guarantee the liabilities to a maximum of £1 each. b. Membership Membership of the Society is open to anybody interested in the history of trdnsport, on application in writing and payment of the subscription. c. Trustees The members of the Council are the Trustee5 of the Society and are Dirertors for the purposes of the Companie5 Acts. The Council comprises the President, up to eight we-PreSidents, Hon Secretsry, Hon Treasurer. one representative from each Regional Group and not fewer than six nor more than twelve members elected at the Annual General Meeting. Although the election protess does not guarantee it, in practice it is found that it yie5ds a suitable balance of academic, professional and managerial expertTse. New Trustees are given copies of the tonstitutton, notes of 8uiilance 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 decIsjns made at General Meetings. D¥Jring 2024 the Managing Committee and Council changed their meeting arrangements. During and after the pandemic erd they met together to ensure maximum engagemerrt in the strategic direction of the Soctety- They now meet separately to concentrate on their own specific responsibilities in the affairs 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 Soctety has no employees. All activrtres are undertaken by voluntee[5 who are 1MbUrSed only for necessary approved expenses. Members of the Publications Committee eath receive a copy of all l)ooks published by the Society. Related parties The Society works coopèrativefy with other tr3nsport and historical societies. It is a corporate memberof the Inland Waterways Association and the Association for Industrial Archaeolo8y. The Society nominates a member to be on the Council of the Canal & RiverTru5t. 4. Rlsks The Society remains solvent but certain tonger-temi issues, identified in the previous annual reports. continue to cause concern. Membership stabilised during the year and showÈd a small increase.. The near doublin8 in new members was encouraginB- from 37 to 72- but wa5 large offset by deèth5 and lapsed memberships. k of volunteers for admlnistrdive positions in the local and national structure continues to be an issue. Membership has increased durin8 the year largely due to an increase in publicising the Society through the creation and widespread distribution of a new membership brochure and new bustness cards; also with advertising in transport related ma8èzines. The13tter is continuing during 2025. 5. Key Cornrnents on 2024
The financial stability of the Society has been maintained during 2024. building on the changes made in recent years. During 2024 the Society continued wtth all aspects of its national and regional activities, intluding meetings both face to fate and remote, walks, visits and residential weekends. The orBani5ation and monagement of the media archive conttnued to receive significant attention during 2024 and a dedicatèd group has continued to make substantial progress that is reported below. A research Erant for a forthcoming publication was made during 2024. 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.. Providin8 forums for discussing and furtherin8 research into British transport history Providing tnformation for researchers about readily available transport related databases and archives. Publishing quality researth,- and Organising conferences. speaker meetings and visits to places of interest. 7. Charitable actlvities General The Tnjstees have complied with their dirty to have due regard to the guIdall on public benefit published by the Charity Commission in exercising their powers and duties. b. Publlcatlons Book>. One new title was published in the year 'Moster of these Morvels,: George Stephenson ond hi5 Circle of Genius by Robert F. Hartley. This book hès been well received. The engineer s crowded life 15 followed year-by-year, set against the bockground of national and international event5. including three hectic periods of 'Railway Mania.. Dlgltol.. All of the following publications are regularly updated and are available on the RCHS website to everyone. A Bibliogruphy of the History of Inlond woteoYS Railwoys and Rood Tronsport in the Brittsh Isles 2023. This bibliography of transport book5 and publications 15 edited by Matthew Searle with the assistsnce from a number of RCHS members. This is the first editTon since it first appeared in 1985 without the name of Grahame Boye5 as sole or joint compiler, since he has decided it is time to step down from assembling the fiftal product. Its concept and format are all his work. and much grdtitude is due to hirn for labouring at the bibliographic coalface for so long. Roilway PGssengerStOtion5 in Greot 8rituin-A Chronology by Michael Quick. Originally published as è book, a new digital version was published in September 2023. Chronology of Modern Tronsport in the Brittsh Isles 1945-2023 compiled by Matthew Searle. This is a publication of signifitant events in the history of transport and communication since 1945. A supplementary Tronsport Chronologvfor2024 is also available.
Transport History Anniversuries 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, 2QX), 250, 3(X) and 400 years prior to the current year. Thejournal: continued to be produced and distributed without any interruption to its normal schedule during 2024. The usu31 three issues were produced and numbered 249-251 and represent@d parts 4-6 of wlume 41. These issues contained 17 majorarticle$114 on railways and 3 on waterwaysl together with the usual obituaries, book reviews and items of correspondence. The number of book reviews138 over 19 pages) was ton5iderably less than in previous years. Matthew Seale continued as Reviews Editor- maps are now regularty produced by John dè Havilland- and Stephen Phillips designs the cover linner and outer) from material supplied by the editor. The Bulletsn." continues to be a bi-monthly publication intended for RCHS members only. Thè editor, Rob Shorland-Ball recently resigned and we are currently looking for a plaCeMent. In the meantime publication of the Bulletin is in the capable hands of the website team. 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 doe5 not contain anything that non- members who chance upon It should not see and it may encournge some to join the Society. c. Webslte Website security continued to be monitored and, whilst no security breaches We reported throu8h the year, addltional measures were taken to ensure continuous smooth operation of the website for both members and vtsitors. Backups are now made daily, on a rolling 30-day ba515, by the h05ting company and, for additional security, a weekly backup is made by the Web Team. Net sales through the website shop were around £IOK, from 4W orders, £5K of this representing membership renewals or new membership5 of which there were 48. The sending of Mailchimp emai15 by the webteam, usually with two issues per month, reminding on upcoming Society activities, and other important items, continued to receive positive feedback. Effort5 were initiated to add more items of interestrto the members only area of the website, and plans were put in place to further this effort during the year. The web team focusèd on updating the Home Page to keep it topical, informative and attrattive to both members ènd other visitor5 to the website. Assistsnce wa5 provided to both the 51Gs and the Regional Groups in keeping their pages up to date. During the year the archive of back copies of the Bulletin (from 1954 onwards) was added to. and by the end of the year was nearing completion. Thanks are due to the small, but growin8. group of members as5iSting with these efforts and who, along with the tore web team led by Roger 8rice and Roger Taylor. can take pride in what is available from the website. However. there is still 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 dotuments where that name or phrase is found. You can then drill down to any of these documents and view the text Whe it appears. d. Medla Arthive During 2024, Oljf 27 volunteers made further significant progress on the Media Archive, which now includes 180,tXM) photographs, map5, engineering drawings. etc. A number of new Collections were donated dur¥ng the year, notablyTony Jervigs extensNe collettion of trdn5POrt photogrdphs, all taptioned and mostly scanned. Tony is a vice-President of the Society. The "Zenphoto" software uttlised for the Online Archive continues to be vèry suitsble for our needs under the technic81 leadership of our member, Adrian Mos5.
At the end of 2024, there were 15.426 image5 online. an increase of over 5.000 in the year, and arranged into over 700 thernatic album pages, all free to view. The principal Collections uploaded included those of Allan 8rackenbury, Hugh Compton, Stephen Duffell, Jeoffry Spence, philip and Rodney Weaver, and Edwin Shearing. 8. National Activities a. The SocietysAGMwas held in Manchesteroft 21st September followed bythe presentation ofthe annual RCHS Tronsport History 8ook of the YearAwords and the CIAnker Memorial Lecture. b. Clinker Memoriul Lerture: The lecture was delivered by Patrick Moss, a life-long canal enthusiast who has developed his own busine55 advising and mana8in8 canal restoration projects. He runs his tonsultancy from his office in Frome in Somerset, ironically a town whose onty canal was never finished and never oned l His topic was The Recovery of Woterwoys in Englund ond Wales which covered the different fluctuating phases of success and failure in recovering waterways over the last 70 years up to the presènt day. The presentation wès made available to a wider audience through a recording placed on the website, attracting a total of more than 123 fijrther viewings. 9. Regional GA>UP AclT¥ities Eost Midlonds.- During the year the group held a programme of eight lecture5 attended by an average of 14 members per meeting and seven outings attended by an average of 10 members. There were Six committee meetin85. b. London: The group or8anised a complete programme oftslks and walks during 2024. The meedngs at the Alan 8axter Gallery near F3rringdon station attracted around 20-25 listeners at each event. The subjerts included a recent history ol railways in tland, a history of railwaytunnels, tsilways and economics, the North London Railway, and the Liberation Line in France Ichristian Wolmarl. The walks programme attracted around 10-15 walkers at Èath event. The programme focussed mainty on the Regents and Kennet & Avon canals. They a150 organised a very popular summer visit to the GWR museum at Didcot, to be repeated in 2025 for those not able to attend the first time. L North East.. The group held Six meetings during the year. Four of these were held at our regular venue of York Central Library in the centre of York. The other two were held by Zoom. The subjects included the Yorkshire Watermèn, the Liverpool Overhead Railway, the trlistory of the Highland Railway, Viola and the Violè Trust and a talk by Jane Ellis about her walks with the Railway Ramblers over many years. d. North West.. During 2024 the group held seven lecture meetings with subjerts including the railway accident at Lambrigg in Cumbria, the restored tugboat DonielAdamson. Railways of Northern Scandinavia, Railways of Bradford and Low Moor MPD, Water and Rail Transport in the Gat Gn, and the Later Years of the Manchester Ship Canal. The average attendance was 23. The group held 10 walks in the areas of Heywood, Carnforth, Sandbath, Poynton, Acton Bridge. Guide Bridge, various branches of the Leeds and Liverpool canal. and Kidsgrove where there was a Christmas lunch. There was also a cruise on the DonielAdamson along the Weaver Navigation South We5t'. As with last year the group èrran8ed a 2024 programme of educational and entertaining activities, often in conjunction with other organisation5. Several Zoom talks were arranged on diverse topics including the history and regenerdtiDn of the Rolle Canal in North Devon. the restoration of the tugboat Doniel Adamson. the photographs of Cardiff-based photographers John Wiltshire and Derek Chaplin 1958-1970, and the Somerset & Dorset Railway's Bath extension to mark its 15Qth anniversary. The anniversary was also markeil by a walk from 5hepton Mallet. West Midlands.. There were six live tslk5 held ot the Birmingham & Midland Institute during the year. They included the Chester & Hoiyhead Railway. Development of Railways in the West Midlands,
Scottish Resesvoirs, the Severn Navigation. European Railways, and the Birmingham & Midland Carryiftg co. The group also organised a highly successful weekend of activitie5 and visits in and around GIouster and the Forest of Dean, attended byforty members and 8uests. 10. Special Interest Groups ISIGS) Pipelines and Muteriols Hondling= This Group was inactive during 2024 and the position of group co- ordinator is vacant. Its continued existence is under vIeW. b. Road Transpotr. The group published four Notes & Queries and four Occasional papers during the year. Membership of the group remained unchanged. G Air fransport.. The group issued one newsletter during the year which contained 13 rtems. Membership of the group remained unchanBed. d. Early Railw¢7y5= At the end of 2024 membership of the group stood at 224 an in(aSe from 210 at the end of 2024. Fourteen new members joined the group in 2024. During the year the group issued one Circular and six Occasional papers the content of which spanned a wide period of time from the 17th to the 19th century. The group also hosted an online talk via Zoom in which Anthony Dawson and Ed Bethune described their work on the Cockenzie Waggonway. Modern Tmnsport.. The group published four newsletters that appeared throughout the year.. they are sent out to 70 members. The group continues to attratt new members, but membership remains unchanged due to the death of older members and lapsed memberships. Other associated papers are produced separately with the Notes series introduced for comments via email. The last issue dealt with HS2. Contributions from members continue to arrive which is encouraging. Ruilway Chronology.. Membership of the Eroup has increased to 140 during the year although member< contributions for circulation have remained low enabling only one mailing to be distributed. However towards the end of the year, a sm311 but Sl8nificant increase has occurred which will enable the produthon of a further malling and new51etter early in 2025. The annual updating of RaAlway Pussengerstotions of GreatBrituin wa5 Withheld as stewardship of the document is currentty bein8 transferred from Michael Quick to another group member. g. Rollwoy History Re5e¢7rch: The group's activity showed a slight increase compared to the previous year with 25 circulars being emailed. These irtcluded= 16 'Notes & Queries'17 of which resulted in multiple responses from group member51- 2 'Reprint5', and g 'occasional papers Iwith 2 generatin8 follow-up disCUS5ion within the group). All circulars are periodically loaded to the members, area of the website where they can be searched and viewed by any RCHS member. h. Woterwgys History Reseorch.. The group submitted 10 Notes & Queries, 4 Otcasional Papers, 1 photogfaph Query, and I Sources Paper during the year. This was a slight decline compared to 2023, but membershipofthe group remained unch4nged. Internet Discussion Group: The Internet Discussion Group continues to be active, posting an average of 62 messages a month. Membership is 71. a slight decline of four fewer than 2023. This Group is sponsored by the Sotiety but is open to. and welcome5. non-members who wish to join. 11. Other charftable activities Research and the acJdemic community." The Society offers an annual award forthe best paper, 4,{K) to 6,000 words in length, submitted on a subject related to transport history by a person under the age of 30, with the winning paper and any others deeme¢J worthy being published in the Journal. No papers were submitted during 2024.
b. Research grants: A research grant for a forthcomin8 publication wa5 made during 2024. Developing a rn0 effective use of the Sotiety's research funds will be addressed during 2024. 12. Transport History Book of the Year Awards 2024 marked the twenty-ftrst year of the society's Book Awards. Based on recommendations from its panel of book reviewers, the judges Itwo volunteers from the Society's membership together with the Book Award5 administratorl short-listed seven titles for consideration from the 51 books reviewed in the JournJl issues of July and November 2023 and March 2024. Four category winners were announced at a CemOnY in Manchester on 21st September, immediately ft)Ilowing the Society's AGM. The Light Railway History prize wa5 awarded to The Trulee & Dingle Railwoy by Michael Whitehouse, published by Lightmoor Pre55. The Early Railvffiys prize went to The ComAng of the Roilwoy.- a new global history 1750-1850 by David Gwyn, published by Yale University Press. The prize for Docks & Shipping Book of the Year went to TA. & C.H. Walker.. Shipbuilders, Railwoy & Civil Engineering Controctor5,Irom Sudbrook to South Americo by Richard Clammer, published by Li8htmDor Pre55. The Maritime Transport history prize wa5 awarded to The Making of the MacBroyne.' 0 Scoth5h tn7nsport monopoly spanning three centuries by Andrew Clark, published by Stenlake Publrshing. The judge5 chose The Coming of the Roilway by David Gwynn as the overall 2024 Transport History Book of the Year. The President presented awards to Michael Whitehouse. David Gwynn and Richard Clammer. Unfijrtunately, Andrew Clark was unable to attend. 13. Social Media and other publicity The Society's Facebook page contlnues to generate interest, with posts made every week to adverhse meetin85 and walks, the JoLFrnal and other publications, and occasional items of general transport history interest. There are over 1,4(X) people who re8ularly view our page. Advertisements for Society membership were published in leading transport magazines. notably to tointide with our"18 months for the price of 12" membership offer in July. A new membership leaflet was also produced during the year and widely distributed. It supplemented the business cards produced in 2023, which are given to interested potential members wherever possible. 14. Membership Membership increased by 1.3% during 2024. New memberships increased and lapsed memberships decreased. Total memberships on 31 December 2024 Category Individual membershlps Joint Memberships At End 2024 659 At Start 2024 661 Change during 2024 52
Student membershlps Complimentary memberships Total Memberships 17 12 730 721 Changes Durlng 2016-2024 2024 2023 2022 2021 2020 2019 2018 2017 2016 Beginning of Year New memberships Less deceased members Less resignations 721 765 793 776 795 795 795 799 824 72 37 47 69 54 63 43 43 -17 -13 -13 -15 -16 -18 -16 -14 -17 -26 -27 -18 -28 -29 -15 -24 -36 Less lapsed & un-lapsed -29 42 -35 -19 -27 -20 -20 -25 Indlvldual to Double & vice ver5a End of Year 730 721 765 793 776 795 795 795 799 15. Financial re¥lew The Financial Statement5 of the Society show a satisfdrtory position for the year ended 31st December 2024. The Funds of the 5o£tety increased modestly by 2.7% over the previous year, tompared to a 9.5% intrea5e in 2023 over 2022," mainly due to several facto. Firstly, the market value of our Investments rose by £2,000. This value inevitsbly 8oes up and down day bv day. During 2024 the values went up by £ 2,000, and in 2023 the values also went up by £4,624. We bought the investments for £50,0(XJ towards the end of 2016, $0 even at 31st December 2024 they We worth £16,510 more than the c05t, and we are receiving about 3% income each year. Secondly, the income of the Soaety decreased by £8,527 over the previous year mainly due to a Significant decrease in the sale of books by £6,086 and a decrease in donations by £1,313. Thirdly, the expenses of the Society decreased by a more modest £2,600 over the previous year. Some expenses showed a mixtufe of changes. For example book production costs declined by £2,760; event expenses increased by £1,080. Subscription income for 2024 was £19,518 and Income Tax recovered uftder the Gift Aid scheme was £4.098, both figures being slightly less than the previou5 year due to the modest change in membership numbers. Our other sources of income are mainly from Events. including meetings arranged by the Regions, and sales of Books. These items of inconie generally grve rise to associated costs, ènd although the figures vary from year to year, they do not have a great effect on the changes in income and expenditure shown in the Accounts. The number of physical meetings, talks, walks and visits intased substantially during the year. Consequently both the costs of £16,051 and the income of £15,774 were well above the previous year, whlch resulted in showing a small loss for the year. Some of the lectures continued to be offered as a mixture of face.to_face and mOtelY by electronic means to reach a wider audience but were contained within these Costs. Bulletin costs increased by £2,102 compared to the previous year due mainly to substantial increases in postage charges. Thls issue has been addressed subsequently by increasing the charge to those members who receive a printed version of the Bulletin from May 2025. However, the Journal costs declined substantially by £2.208 over the previous year. mainly due a change in our printing supplier.
Bank Charges, which totslled £373 2024, includinB Costs associèted with Book sales were reduced from the previou5 year due to a 8Feater useof barth transfer5 by membws ar the Etse of fewer ctwues. We u*the Chafitles Aid Foundatlon bank whlch offers banking facilities similar to the maln dearing banks. Similar to most oanIsationS ourcAYStof insurance increased to E78512023- £4141, as thi5 now includes Cyber cover. The Society is tinèncialty well able to carry OErt its charitsble obltgations. but It is dependent on members bein8 willing to arrdnge its activities. and on the recruitment of new members 16. Plans for 2025. Among the prlorltles for artlon In 2025 are: Developing mean5 to attract new members through taetted advertising. Encouragin8 more research by offering to member5 updated information about databases and sources of archive material. 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 cost5 while delivering our charitable aim. The report has been prep17red in 17ccordance with the provisions opplicable to compt7nies subjert to the small componies regime. Approved by the Council, £IAflL lan Willis (Hon Secretaryj September2025 io
Page 1 THE RAILWAY AND CANAL HISTORICAL SOCIETY Acom Limited b Guarantee STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR END 31 DECEMBER 2024 Unrestri¢tfjd Restricted Funds Funds Total 2024 Total 2023 Noteg Income Donations and18gaci8S Charitable ackn'viltes Investments 26,110 21,093 3,171 26.110 21,398 4,299 27,669 28.896 3,769 305 1,128 Total income 50,374 1,433 51,807 60,334 nditure Charitable actNities 46,715 3,271 49,986 52,586 Excess of Income ov•r oxponditure 3,659 (1.8381 1,821 7.748 Net 110gsesl I gains on investments Unréalised losses ins 1.354 2.000 4,624 Net movements in funds 5,013 11,192> 3,821 12,372 Fund balances at 1 January 2024 91,026 52,229 143,255 130,883 Fund balances al 31 December 2024 15 96,039 51,037 147.076 143.255 The Statement of Financial AetivFties includes all gains and losses fecognised in the current and prior years. All income and expenditure derwe from continuing activities. The Slalement of FinancFal Activities also complies with the requirements for an Income and Expenditure Account under the Companies Act 2006.
Page 2 THE RAILWAY AND CANAL HISTORICAL SOCIETY Acom Limited b Guarantee BALANCE SHEET AS AT 31 DECEMBER 2024 2023 Flxed assets Investments 86,510 64.510 Curront assets Stocks Debtors Cash al bank and in hand 10 11 12.556 1,110 89,138 9,231 826 79.411 102,804 89.468 Credltors.. amounts falllng due wlthln one year 12 {22.238) {10,7231 Net current assets 80,566 78,745 Total as$•ts I$ Current Ilabllltle6 being net assets 147,076 143,255 Funds Restricted funds Un$trd funds 15 16 51.037 96,039 52.229 91.026 147,076 143,255 The ¢ompany is enlilled to the exemptlon from Ihe audit requirement contsined in section 477 of the Cornpanies Act 2006. for the year ended 31 December 2024. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these accounts. The Tntstees, responslbilitiès for ensuring that the company keeps accounting records which comply with section 386 of the Act and for preparing accounts which gfve a true and fair vmv ofthe stale of affairs of the company as at the end of the financial year and of its incoming resources and application of resources. induding its income and expenditure. for the financial year in accordance with the requirements of sects'ons 394 and 395 and which othepNise comply with the requirnents of the Companie5 Act 2006 relating to accounts. so far as applicable to the company. These accounts have been prepared in accordance with the provisions applicabk to companies suLlecl to the small companies, regime. The accounts were approved by Ihe TFUStees and aulhorized for issue on 6th September 2025 Trustee David Smiih Hon Treasurer Company Reghtra114)n No. 00922300
Page 3 THE RAILWAY AND CANAL HISTORICAL SOCIETY Acom n Limited b Guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng policies Charlty Informatlon The Railway and Canal Historical Society is a private company limrted by guarantee in{Porated in England and Wales. The registered Off is 7 Grosvenor Gardens, Victoria, London, SW1W OAF. 1.1 Accounting convgntion The financial statements have been prepar&J in accordance wilh the Charities SORP {FRS 102) - Accounting and Reporting by ChrFb"es.' Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Iland {FRS 102} leffective 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 and the Companies Act 20C6. The charity has taken advantage of the provisions in the SORP for charrties apptying FRS 102 Update Bulletin I not to prepare a Statement of Cash Flows. The accounts have been prepared under the historical cost convention. The principal accounting policie$ adopted are set out below. 1.2 Going concern The accounts have been drawn up on a going concem ba$i5. I ne rinanciai $DDlllty or me vnarity nas Dèen maintaineo aunng 2Ud4, buiioing on me cnanges notea In tne iasi Annual Report. During 2024 the Charity contiued lo move back to aspects of the pre•Covid arrangements wth more face to face meetir¢gs. but without losing the increased reach of the virtual meets'ng.. The Trustees have reviewed the financ¢al posth.on and anticipate that the charty will be able to continue to trade and meet tts liabilib'es as they fall due for the foreseeable fvture, being a period of 12 months from the date of approval of these financial statements. 1.3 Charrtable funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable oty'ectives unless the fvnds ttave been designated for other purposes. Restricted funds are subject to specffjc conditions by donors as lo how they may be used. The purposes and uses of the restricled fvnds are set out in the notes to the accounts. 1.4 Incoming rggourcos Subscripts'ons and Donations are reeognised on receipt Income tax recoverable in relatson to income received under the Gfft Ard regulations is also reeognised when It is reIved. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount r5 known, and receipt 15 expected. Other income is reccgnised when ttle charity is legally enb.tted to it, after any performance conditK*ns have been met
THE RAILWAY AND CANAL HISTORICAL SOCIETY Page 4 Acom n Limited b Guarantee NOTES TO THE FINANCIAL STATEMENTS CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 1.5 Expondlture Expenditure is reccgnised once there is a legal or constructtve oblrgalion lo make payment to a third paty, rt is probable that settlement will be required and the amount of the obligab'on can be measured reliably. All expendrture is accounted for on an a¢¢ruals basis. AJI expenses including support costs and govemance costs are allocated to the applicable expendire headings. Irrecoverable VAT is charged against the expenditure heading for which it was incurred_ 1.6 Fixed asset investments Fixed ass8t investments are initialty measured al transaction pri and are subsequentty measured at fair value at each reporting date. Changes in fair value are recc¥Jnised in net incomellexpenditure) for the year. 1.7 Flnanclal In8truments The Charity only enters into basic financial instruments transactions Ihal SuIt in the recognrtion of financial assets and liabilities like trade and other debtors and creditors, 108ns from banks and other third parties, loans lo related parties and investments in norl-puttable ordinary shares. Financial assets that are measured at cost and amortised cost a assessed at the end of each reF)Orting period for objective eviden of impairment. If objective evKlence of impaimienl is found. an impairment los$ is recognised in profit or loss. Financial assels and liabilities are offset and the net amount reported in the Balance Sheet when there 15 an entorceable right lo sel off the recognised amounts and there 15 an intenb'on to settle on a net basis or to realise fhe asset and settle the liability simultaneously. 1.8 DobtOW8 Trade and other debtors are recognised at the settiement amount after any discount offered. Prepayments are valued at the amount repaid nel of any trade discounts due. 1.9 Crodltor8 Short term cdItorS are measured at the transaction price. 1.10 stocks Stocks are of Books for sale and are ststed al the lower of cost and estimated selling prtce. 1.11 Cash and cash equival8nts Cash and cash equivalents include cash in hand, deposits hekl at call with banks, other short-term liquid investments with original maturities of three month$ or less. Critical accounting esllmates aml ludgements In the applicat¥)n of the charity's accounb.ng policies, the Trustees are required to make judgements, estimates and assumptions about the carrwng amount of assets and liabilities that are not ieadity apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual resums may differ from these esb"mates. The estimates and undertying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both Current and ftrlu periods. The accounts do not include any accounting estimates.
Page 5 THE RAILWAY AND CANAL HISTORICAL SOCIETY Acom n Limitedb Guarantse NOTES TO THE FINANCIAL STATEMENTS CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 Donatlon8 and legacies Unrestrlctsd Funds Restricted Funds Total 2024 Totsl 2023 Subscriptions Gift aid tax recovered Donations Legacies 19,518 4,098 2,494 19,518 4,098 2,494 19,688 4,174 3,807 26,110 26,110 27,669 In 2023 all donations and legacies were to unrestricted funds. Incomo from charft¥ble actlvllle8 Unrestricted Funds Restricted Funds Total 2024 Total 2023 Publication fvnd income (See note 14) COnferere income Event income 5,319 5,319 305 15,774 12.945 811 15,140 305 15.774 21,093 305 21,398 28,896 In 2023, of the lotsl income from charitable activities, £28,085 was for unrestricted fvnds and £811 wa5 for reslricled funds. Investment incoma Unrestriclod Funds Restricted Funds Total 2024 Total 2023 Investments Cash 851 2,320 1,128 1,979 2,320 1,930 1,839 3.171 1,128 4,299 3,769 In 2023, of the total investment income, £2.679 was for unrestrthd funds and £1,090 was for restrithd nds. Trustees. remungration and bengflts No Twstees. remunerats'on or other benefits were paid for the year ended 31 Drnber 2024 nor for the year ended 31 December 2023. Trustses, expenses No Trustee5 were reimbursed office expenses and travel costs during the year12023 - NIL). Br4ncho6 The financial activities, assets and liabiif(ies of all the charity's branches have been included within these accounts.
Page 6 THE RAILWAY AND CANAL HISTORICAL SOCIETY Acom an Limited b Guarantee NOTES TO THE FINANCIAL STATEMENTS CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 Charitable expendlture The charity undertook activities in relation to its ¢harrtable purposes in the 'iear as follows.. Unrestricted Restrfcted Total Funds Fund$ 2024 2023 Direct Costs JoLtmal productson and distribution Bulletsn production and distribution Book production and distribution Re8earch Fund expenses Conference expenses Special interest 9roups Web expenges Zoom expenses Event expenses Book Awards Photograph collection exrISeS 11.996 3,607 S,256 11,9 3,607 5.256 14,204 1,505 8.016 14 271 271 2,343 360 154 16,051 550 280 14,971 1,600 1,660 154 16,051 2,000 2,095 2,000 2,095 39,545 3,271 41.790 45,129 Other charltsble costs Adverts'sing and Publicity Me6t5ng costs Bank Charges Insurance Sundries 548 2.613 373 785 2,611 2,613 373 785 2,611 2,287 439 414 2,117 6,930 6,930 5.257 Govemance costs Accountancy and review costs 240 240 2.200 Tolal Charftabl? 9xnditUre 46,715 3.271 48,960 52.586 In 2Q23, of the totsl CharFtable expendrture, £48,643 was experKIrf(ure from unrestricted knnds and £3,943 was expenditure from restricted fvnds. Invostments 2024 2023 Tho inve%tments •TO UK Unit Tts •5tab15shgd for uso by Charftles. Balance al 1 January 2024 Addtiions Gain$ in the year- unrealiz8d 64,510 59.886 2,000 4,624 Balance at 31 December2023 66,510 64.510 The investments are shown al market value and the aggregate market value at 31 December 2024 was£ 66,51012023 - £64,510). H¢storical Cost at 1 January 2024 and 31 December 2024 50,000 50,000
Page 7 THE RAILWAY AND CANAL HISTORICAL SOCIETY Acom Limited b Guarantee NOTES TO THE FINANCIAL STATEMENTS CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 10 Stocks 2024 2023 Books held in stock 12,556 9,231 11 Debtors: amounts falling due within one year 2024 2023 Prepayments 1,110 826 12 Credltors: amounts falling due wilhin ono ygar 2024 2023 A¢cruals Deferred Income SubsGript50ns Event income Other creditors 2,100 7.103 11.500 3,635 6,947 1,676 22,238 10,723 D•f•rr•d In¢om• Deferred income at 1 January Resources deferd during the year Amounts released from previous years Deferred Income at 31 December 6,947 18.603 (6,9471 18,603 5,221 6,947 15.221) 6,947 DefeThed income is Fees for an Event and Subscriptions received before 31 December for the folk)wtng calander year
Page 8 THE RAILWAY AND CANAL HISTORICAL SOCIETY Acom an Limited b Guarantee NOTES TO THE FINANCIAL STATEMENTS CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 13 Financial Instruments 2024 2023 Fir¢ancial assets measured at fair value through income and expenditure Financial assets measured at cost 66,510 90.248 64,510 80.237 156,758 144,747 Financial liabilities measured at cost 122,238) 110,723) {22,2381 110,723) Financial assets measured at fair value through inwme and expendire comprise investments. Financial assets measured al eosl comprise bank baiances and debtors. Financral liabilities measured at cost comprise the creditors. 14 Publication Fund 2024 2023 Within Unrestricted Charrtable Activity income and expenditure are the following amounts Book Sales Donations Sundry Income 5,295 24 11,381 1.500 5,319 12,945 Deduct.. Cost of Sales Opening Stock 8ook Prijducts'on 9.231 7,610 10,700 5,342 16,841 12.556 1e.042 9,231 Deduct Closing Stock 4.285 fj,811 1.109 Distrtbution ExFenses Book Storage Bank Charges 126 5,256 8.016 Increase in Publication Fund 63 4,929
THE RAILWAY AND CANAL HISTORICAL SOCIETY Acom an Limited b Guarantee Page 9 NOTES TO THE FINANCIAL STATEMENTS CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 15 Movemenl in Fund8 Expenditure and Losses At 01.01.24 Income Tran8fef At 31.12.24 Restrlctad Funds Research Fund Conference Fund Book Prize Fund 4,263 18,302 29.664 1.000 271 3,263 18.336 29.438 305 1,774 2,000 52,229 2,079 3.271 51,037 Unrestrlcted Funds General Fund Publicats'on Fund Le9acies Fund 34,620 37,773 18,633 46,409 5,319 41,459 5.256 39,570 37,836 18.633 91,026 51,728 46.715 96,039 Total Funds 143,255 53,807 49.986 147,076 16 Anaty$is of nel assets bgtween funds Unra%tricted Rostrlcted Total Funds Funds Funds At 31 December 2024 Investments Current assets Regional bank and cash balances Other bank and cash balances Ottr current assets Creditors due within one year 33.295 33,215 66,510 24,955 48,361 13,668 (22,238} 24,955 64.183 13,686 122,2381 17.822 96,039 51,037 147,076 At 31 December 2023 Investments Current assets Regional bank and cash bakinces Other bank and cash balan Other current assets Creditors due within one year 31,941 32,569 64.510 14.999 44,752 10,057 110,7231 14.999 64,412 10,057 110.7231 19.660 91,026 52,229 143,255
e10 THE RAILWAY AND CANAL HISTORICAL SOCIETY Acom n Limited b Guarantee NOTES TO THE FINANCIAL STATEMENTS CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 17 Reglonal Income and Expenditure 2024 2023 Within Unrestrthd Charftrdble Activity fre and expenditu aTr the following amounts from tho Regional Accounts Legacy Donations Gift aid tax recovered Event Incomes Interest 1,653 54 15,775 214 15.140 18 17,482 16,354 Meeting room costs Speakers expenses Other Event Costs Group Officers Expenses Sundnes 1,459 1,068 390 14,971 16,051 147 417 103 18.741 16,537 {Deficitsl 11,259) 1183) 18 Rolatod party disclosurg The Trustees were the onty Related Parties during the year ended 310ecemter 2024 and details of transactions are shown in Note 6. 19 Deslgftotod and Restrlcted Funds Designated Fund$ Publlcatlon Fund Thi$ Fund, which is not restricted. exists to fund the Society's producb.on of books. Legacy Fund This Fund consists of the proceeds OF legacies received by the charity from memters. It is not a restricled nd and ¢an be used for appropriate charitable purposes al the discretion of the Society.
Page11 THE RAILWAY AND CANAL HISTORICAL SOCIETY Acom Limitsd b Guarantse NOTES TO THE FINANCIAL STATEMENTS CONTINUED R THE YEAR ENDED 31 DECEMBER 2024 19 Dosignated and R¢8trlcted Funds l¢ontd..I Re8trlcted Funds RgarCh Fund This Fund rs financed by donations from members and exists to provide financtal aSSrstan lo persons undertaking research in suitable fields. Conference Fund The Society has received monies from other bodies so that the Society could tske over the adminislration {NOT the organisatronl of some Earty Raiw Conferences. These amounts are StrICted to that purp)se and if the Srriety wished to slop administering the o)rrferences, they would need to be transferred lo the successor organisation. Any surplus income from 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 fvnd may onty be used to fund the annual book prEes. The administratfve expenses involved are bome by Ihe Societys General FLmd. 20 Capftol The charity is limited by guarantee. Every member of the ¢hanty undertakes to guarantee the liabililres of the charfty in the event of the same belng wound up, with such an amount as may be required but notexceedlng £1.