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 ￿8￿al￿nItel￿)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 p￿sent their Reportfvr
the year ended 31 December2024.
Reference and admlnlstratfve detail5:
Charity registratlon number
Company regIStra￿On 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 w￿e-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 decIs￿jns 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 admlnistrdi￿ve 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 wote￿oYS 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 o￿ned 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 t￿land, 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 G￿at G￿n,
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 GIou￿ster 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 Ce￿mOnY 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 int￿ased 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 o￿anIsationS 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 ta￿etted 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￿$tr￿d 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 requi￿rnents 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 I￿land
{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 re￿Ived.
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
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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 expendi￿re 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 c￿dItorS 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.

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THE RAILWAY AND CANAL HISTORICAL SOCIETY
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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)
COnferer￿e 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 D￿rnber 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.

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THE RAILWAY AND CANAL HISTORICAL SOCIETY
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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 ex￿rISeS
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? 9x￿nditUre
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 T￿￿ts •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

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THE RAILWAY AND CANAL HISTORICAL SOCIETY
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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 defer￿d 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

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THE RAILWAY AND CANAL HISTORICAL SOCIETY
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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 expendi￿re 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
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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
Ott￿r 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

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THE RAILWAY AND CANAL HISTORICAL SOCIETY
Acom
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NOTES TO THE FINANCIAL STATEMENTS
CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2024
17 Reglonal Income and Expenditure
2024
2023
Within Unrestrthd Charftrdble Activity fr￿e 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.

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THE RAILWAY AND CANAL HISTORICAL SOCIETY
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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
R￿garCh 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.