## **Great Eastern Railway Society Registered Charity Number: 267275** ## **Trustees’ annual report for the period 1[st ] January 2024 to 31[st] December 2024** ## **Principal address:** Secretary, 6 Windmill Walk, Sutton, ELY, Cambridgeshire CB6 2NH ## **Trustees who manage the charity:** Mr Peter Walker (Chairman), Mr Ian Bruce (Treasurer), Mr Brian Watson (Secretary), Mr Brian McCarthy, Mr Graham Roper, Dr Iain Scotchman, Ms Ruth Ivimey-Cook, Mr Nigel Bowdidge and Mr Bernard Anderson. ## **Summary of our Structure and governance:** The governing document is the Constitution. The **Great Eastern Railway Society** is an association of approximately 950 members. The Officers and Executive Committee (The Trustees) are appointed or re-appointed annually at the **Annual General Meeting** which is held in March. **Executive Committee Meetings** are held bi-monthly either in person or via Zoom. The **Great Eastern Railway Society** currently has policies in place for Finance, Complaints, Volunteers, Safeguarding (new) and Data Protection. All Trustees, Executive Officers, Co-ordinators and Committee members etc. give their time voluntarily and receive no remuneration or other benefits. ## **Objectives:** To promote the advancement of public education and knowledge of the Great Eastern Railway, its predecessors, successors and associated railways by study, and the preservation and publication of information. ## **Summary of the past year:** ## **Trustee’s Report For The Year 2024** Four Executive Committee meetings each year are conducted using the Zoom program. However, a minimum of two Executive Committee meetings per year, plus the Annual General Meeting and the Half-Yearly Meeting are always held in person, and all are open to the membership and the public, although members of the public attending cannot vote. An open Zoom meeting each month enables discussion matters pertinent to the Society, including the identification of submitted images and discussion of modelling matters. There is also an e-Group to which announcements, messages and queries can be posted, and the frequent helpful responses draw on the collective knowledge of those participating. There is also a WhatsApp Group for members who either make or create models of subjects covered by the Society. The Society’s membership numbers fluctuate around 950, but the Committee is aware that an aging membership may result in a steady decline and it has discussed how to evolve the Society further to meet the needs and preferences of our members and other people who benefit from our researches and our diverse resources. We have recently lost several long-standing, and hard-working, members who helped to shape the Society and make significant contributions to it. We are the poorer without them. Another consequence of the demographic of our membership has been that the majority of the work of the Society falls onto barely-sufficient numbers of people. That said, what those people do achieve is highly respected by other societies doing similar work. Our President, John Watling, has taken the decision to step back from active day-to-day involvement in the Society. The excellent liaison between him and the Essex Record Office, where our historic Collection is held, is now in the hands of long-time Trustee Bernard Anderson. A storage unit has been rented to store donations of photographs and documentation of significance pending sorting and formal acquisition followed by transfer to the ERO. The Photographic Digitisation Working Group continues to meet at sorting days and work diligently through the year to digitise and catalogue our extensive collection of photographic and other images in order to make them more easily accessible by Society members and the general public through a dedicated website linked to that of the Society itself. Barry Jackson, as Publication Sales Officer, has had yet another very successful year selling files and documents and making new discs and downloads available to members and non-members. Our Annual General Meetings and Half-Yearly Meetings include knowledgeable speakers, secondhand book sales, and plenty of time to socialise. We are constantly working to improve facilities at each to enable access by members and others who are unable to attend in person. We continue to publish four issues each year of our GE Journal, which concentrates on historical material from our geographical area of interest, and also four issues each year of the GE News, which is more focused on current railway-related activity in our area. Our Exhibitions Manager, Nigel Bowdidge, has attended a number of model railway exhibitions on our behalf and we are reviewing the list for 2025 with a view to increasing the events at which we are represented. Two day-long visits for members took place during the year and were well attended and enjoyed. It is hoped that a similar programme will be offered in 2025 and that we shall be able to arrange transport help for our less able members who wish to attend. The Annual Return for 2024 will be submitted to the Charities Commission, including notifications of Trustee changes. Our Accounts accord with the recommendations of the Charities Commission with regard to the extent of our financial reserves and we continue to seek digitisation and other projects that fall in line with our constitutional objectives. The Society currently holds funds in excess of £40,000 in respect of the membership accounts, all of which is in unrestricted funds. These funds are held to meet planned and anticipated expenditure for the next 12 months and in accordance with Charity Commission guidelines that sufficient funds be available for an orderly shutdown should the Society cease operations. At the time of preparing this Trustees report, the final account figures for the year are subject to independent examination. Final account figures will be made available at the AGM on Saturday 15[th] March 2025. **Brian A Watson Secretary Great Eastern Railway Society** ## **Declaration** The Trustees declare that they have approved the trustees’ report above. Signed on behalf of the Charity’s trustees: Signature: ……………………………………………. Full Name: ……………………………………………. Position: Chairman Date: ……………………………………………. The Charity Registration Number is :- 267275 ## THE GREAT EASTERN RAILWAY SOCIETY Report and Accounts ## 31-Dec-24 Mohammad Ali **Skyleaf** Chartered Certified Accountant 106 Coventry Road Ilford IG1 4RG ## **Great Eastern Railway Society** ## **Report and accounts for the year ended 31 December 2024** ## **Contents** ||**Page**| |---|---| |Reference and administrative information|1| |Trustees' report|2| |Independent examiner's report|5| |Statement of financial activities|6| |Balance sheet|7| |Notes to the financial statements|8 to 15| ## **Great Eastern Railway Society** ## **Reference and administrative information** **Trustees** Peter John Walker (Chair) Brian Arthur Watson (Secretary) Dr. Ian Bruce (Treasurer) appointed 16/03/2024 Graham John Roper Ruth Ann Ivimey-Cook Dr. Iain Charles Scotchman Nigel Bowdidge Bernard Joseph Anderson Neil Jackson Pearson resigned 09/02/2024 **Charity number** 267275 **Principal office** 6 Windmill Walk Sutton ELY Cambridgeshire CB6 2NH **Independent Examiner** Mohammad Ali FCCA Skyleaf Chartered Certified Accountant 106 Coventry Road Ilford Essex IG1 4RG **Bankers** NatWest 250 Bishopsgate London EC2M 4AA 1 ## **Great Eastern Railway Society** ## **Trustee’s Report For The Year Ended 31 December 2024** ## Reference and administrative details The Society’s membership numbers still lie between 950 and 1000, but the Committee is aware that an aging membership may result in a steady decline and has discussed how to evolve the Society further to meet the needs and preferences of our members and other people who benefit from our researches and our diverse resources. We have recently lost several long-standing, and hard-working, members who helped to shape the Society and make significant contributions to it. We are the poorer without them. Another consequence of the demographic of our membership has been that the majority of the work of the Society falls onto barely-sufficient numbers of people. That said, what those people do achieve is highly respected by other societies doing similar work. ## **Objectives and activities** Our Accounts accord with the recommendations of the Charities Commission with regard to the extent of our financial reserves and we continue to seek digitisation and other projects that fall in line with our constitutional objectives. The Society currently holds funds adequate to meet planned and anticipated expenditure for the next 12 months and in accordance with Charity Commission guidelines that sufficient funds be available for an orderly shutdown should the Society cease operations. Our Annual General Meetings and Half-Yearly Meetings include knowledgeable speakers, second-hand book sales, and time to socialise. We are working to improve facilities at each which include access from members unable to attend in person. We continue to publish four issues each year of our GE Journal, which concentrates on historical material from our area, and also four issues each year of the GE News, which is more focused on current railwayrelated activity in our geographical area of interest. With rising production and shipping costs, the Executive Committee is currently actively examining means by which those costs may be managed more economically. ## Achievements and performance An open Zoom meeting each month enables discussion matters pertinent to the Society, including the identification of submitted images and discussion of modelling matters. There is also an e-Group to which announcements, messages and queries can be posted, and the frequent helpful responses draw on the collective knowledge of those participating. There is now an opt-in WhatsApp Group, run by our Modelling Co-ordinator, in which our modellers can share tips and information on their projects. Although only a few months old, it is very active with (typically) 10-30 postings a day. 2 ## **Great Eastern Railway Society** ## **Trustee’s Report For The Year Ended 31 December 2024** The Photographic Digitisation Working Group continues to work diligently through the year to digitise and catalogue our extensive collection of photographic and other images in order to make them more easily accessible by Society members and the general public through a dedicated website linked to that of the Society itself. Barry Jackson, as Publication Sales Officer, has had yet another very successful year selling files and documents and making new discs and downloads available to members and non-members. Our Exhibitions Manager, Nigel Bowdidge, has attended a number of model railway exhibitions on our behalf and we are reviewing the list for 2025. Two day-long visits for members took place during the year and were well attended and enjoyed. A similar programme will be offered this year and it is hoped we shall be able to arrange transport help for our less able members. ## Financial review The Annual Return for 2024 will be submitted to the Charities Commission, including notifications of Trustee changes. The Executive Committee is conducting a periodic audit of our membership to ensure our records are up to date as regards Gift Aid. At the time of preparing this Trustees report, the final account figures for the year are undergoing independent examination. Final account figures should be made available at the AGM on Saturday 15[th] March 2025. ## Structure, governance, and management Four Executive Committee meetings each year are conducted using the Zoom program. However, a minimum of two Executive Committee meetings per year, plus the Annual General Meeting and the Half-Yearly Meeting are always held in person. Our President, John Watling, has taken the decision to step back from active day-to-day involvement in the Society. The excellent liaison between him and the Essex Record Office, where our historic Collection is held, is now in the hands of long-time Trustee Bernard Anderson. A storage unit has been rented to store donations of photographs and documentation of significance pending sorting and formal acquisition followed by transfer to the ERO. Bernard Anderson has stood down as Treasurer and is replaced by new Trustee Dr Ian Bruce. ## Plans for future periods Our planned calendar of visits for members to railway-related sites of interest in 2025 includes visits to the East Anglian Railway Museum, the Colne Valley Railway and the Mid-Norfolk Railway plus a couple of visits to some restored railway buildings now in use as family homes. We are looking at opportunities to tie-in Society activities with the Rail 200 celebrations throughout East Anglia. 3 ## **Great Eastern Railway Society** ## **Trustee’s Report For The Year Ended 31 December 2024** We shall take our GER Society displays to a number of model railway exhibitions again this year to publicise the resources we have for modellers and also those manufacturers who create miniature versions of railway items. Now that our processes for receiving and accessioning donated paper items have been updated by the renting of a storage unit, we shall be booking “sorting days” at which donated items can be assessed for incorporation into our Collection in a way that makes them available to members and non-members for research purposes. The Photographic and Digital Working Party will continue to sort and scan our collection of images and, where allowed by copyrights and permissions, make them available to members and non-members. A small working group has been formed to consider revisions to our Constitution in the interests of improving our election processes. Our Independent examiner as appointed by bord of trustees is Mohammad Ali FCCA of Skyleaf. Approved by the board of trustess on ….........................................and signed on there behalf by15th March 202515th March 2025 **Dr. Ian A. BruceBrian A Watson Treasurer, Great Eastern Railway SocietySecretary, Great Eastern Railway Society** 4 ## **Independent Examiner's Report to the Trustees of Great Eastern Railway Society** I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2024 which are set out on pages 6 to 15 ## **Responsibilities and basis of report** As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination. ## **Signed:-** ## **Mohammad Ali FCCA - Independent Examiner** ## **Chartered Certified Accountant** 106 Coventry Road Ilford IG1 4RG This report was signed on 15th March 2025 5 ## **Great Eastern Railway Society** ## **Statement of Financial Activities for the year ended 31 December 2024** |**Note**
Donations and legacies
3
Charitable activities
4
Investments
5
Total
**Expenditure on:**
Charitable activities
6
**Net gain on investments**
Net Income/ ( Defecit)
Transfers between funds
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|**Total Fund**
**2024**
**£**
28,509
3,615
1,050
33,174
35,262
35,262
(2,088)
-
(2,088)
125,656
123,568|**Restated**
Total Fund
2023
£
28,944
5,255
854| |---|---|---| |||35,053
33,370| |||33,370| |||1,683
-| |||1,683
123,973| |||125,656| ## Note The charity has not received any restricted income. The annexed notes form part of these financial statements 6 ## **Great Eastern Railway Society** ## **Balance Sheet** |**As at 31 December 2024**
**Charity No.267275**
**Notes**
**Fixed assets:**
Tangible assets
8
**Current assets**
Stocks
9
Debtors
10
Cash at bank and in hand
**Creditors:**Amount falling due within one year
11
**Net current assets**
**Total assets less current liabilities**
**Total net assets**
**The funds of the charity**
**Unrestricted funds**
General funds
**Designated funds:**
Archive and Capital Projects Account
**Total funds**
12|**2024**
**£**
**1,809**
**1,809**
**1,155**
**5,725**
**115,279**
**122,159**
**(400)**
**121,759**
**123,568**
**123,568**
**115,804**
**7,764**
**123,568**|**Restated**
2023
£
2,526| |---|---|---| |||2,526
1,434
4,111
119,999| |||125,544
(2,414)| |||123,130
125,656| |||125,656| |||115,344
10,312| |||125,656| The Trustees acknowledge their responsibilities for complying with the requirements of charity legislation with respect to accounting records and the preparation of accounts. The Trustees are satisfied that, although the charity is not registered under the Companies Acts, if it were so registered, it would be eligible to prepare accounts in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime. The financial statements were approved by the board of trustees on…......................................15th March 2025 and signed on their behalf by: Dr. Ian Bruce Treasurer The annexed notes form part of these financial statements 7 ## **Great Eastern Railway Society** ## **Notes to the financial statements for the year ended 31 December 2024** ## **1 Accounting policies** ## **Basis of preparation** The financial statements have been prepared on an accruals basis, following the historical cost convention, in compliance with Financial Reporting Standard 102 (FRS 102), effective from 1 January 2016. They also adhere to the SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, which applies to accounting periods starting on or after 1 January 2019. The SORP was issued by the Charity Commission for England and Wales (CCEW). The charity has prepared its accounts in line with SORP 2019, superseding the previously applicable SORP 2005, which has now been withdrawn. While the Charities (Accounts and Reports) Regulations 2008 still reference SORP 2005, this financial statement has been prepared in accordance with SORP 2019 to align with current best practice. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note. The financial statements have been prepared under the historical cost convention. ## **Public benefit entity** The charity meets the definition of a public benefit entity under FRS 102. ## **Going concern** The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. ## **Income** Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably. Where donations and grants are restricted to future accounting periods, they are deferred and recognised in those future accounting periods. Grants for immediate financial support and assistance, or to reimburse costs previously incurred, are recognised immediately 8 ## **Great Eastern Railway Society** ## **Notes to the financial statements for the year ended 31 December 2024** For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material. ## **Interest receivable** Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. ## **Income from membership subscriptions** Membership subscriptions received in the nature of a gift are recognised in Donations and Legacies. Membership subscriptions which gives a member the right to buy services or other benefits are recognised as income earned from the provision of goods and services as income from charitable activities ## **Stock** Stock is valued at the lower cost and net realisable value ## **Fund accounting** Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund. Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes. Designated funds are unrestricted funds earmarked by the trustees for particular purposes. 9 ## **Great Eastern Railway Society** ## **Notes to the financial statements for the year ended 31 December 2024** ## **Expenditure and basis of apportioning costs** Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis with the irrecoverable element of VAT included with the item to which it relates and has been classified under headings that aggregate all costs related to the category. Expenditure is classified under the following activity headings: **Charitable activities:** Expenditure on charitable activities includes costs associated with the delivery of the charity's activities and services for its beneficiaries, and include both the direct costs and support costs relating to these activities. Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements. Support costs include office costs and those of other central functions. ## **Tangible fixed assets and depreciation** Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows: Office Equipment 20% on cost ## **Cash at bank and in hand** Cash at bank and in hand includes cash and short term highly liquid investments. The trustees seek to use short term deposits to maximise the return on monies held at the bank and to manage cash flow. The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. ## **Debtors** Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 10 ## **Great Eastern Railway Society** ## **Notes to the financial statements for the year ended 31 December 2024** ## **Creditors and provisions** Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. ## **Volunteers and donated services and facilities** The value of services provided by volunteers is not incorporated into these financial statements as it is impractical to estimate such value. Where services and facilities are provided to the charity as a donation that would normally be purchased from our suppliers, this contribution is included in the financial statements at an estimate based on the value of the contribution to the charity. 11 ## **Great Eastern Railway Society** ## **Notes to Accounts** |**For the year ended 31 December 2024**
3
**Income**
Subscriptions
Gift Aid reclaim
Donations
Surplus on meetings,
4
**Charitable activities**
Publication Sales
5
**Investments**
Bank Interest
**Total income**
6
**Expenditure**
Unrestricted Funds
Journal - Production
- Distribution
News - Production
- Distribution
Investment in Digitised Magazine Projects
Goverance Costs Note 7
Postage & Telephone
Stationery etc
Stock Purchases and Cost of Goods Sold
Commission
Administration
Publicity
Insurance
Depreciation
**Expenditure from Designated Reserve**
Handbook printing & distribution
Purchase of Items for Collection
Temporary storage
Conservation
Total Expenditure
7
**Goverance Costs**
Independent Examiner fees
AGM Meeting|**Total funds**
**2024**
**£**
**23,865**
**3,907**
**617**
**120**
**28,509**
**3,615**
**3,615**
**1,050**
**1,050**
**33,174**
**2024**
**£**
**5,500**
**7,292**
**3,796**
**8,156**
**3,563**
**1,012**
**148**
**50**
**279**
**316**
**1,307**
**291**
**120**
**884**
**32,714**
**2,310**
**147**
**39**
**52**
**2,548**
**35,262**
**400**
**612**
**1,012**|Total funds
2023
£
24,370
4,106
309
159| |---|---|---| |||28,944| |||5,255| |||5,255| |||854| |||854| |||| |||35,053| |||2023
£
5,939
6,936
4,060
6,402
4,342
1,215
185
25
256
356
1,892
280
162
939| |||32,989
48
333| |||381| |||**33,370**| |||100
1,115| |||**1,215**| 12 ## **Great Eastern Railway Society** ## **Notes to Accounts** ## **For the year ended 31 December 2024** |8 **Tangible fixed assets**
Cost or revaluation
At 1st January 2024
Additions
**At 31 December 2024**
**Depreciation and impairment**
At 1st January 2024
Depreciation charge for the year
**At 31 December 2024**
**Net book values**
**At 31 December 2024**
At 31 December 2023
9 **Stocks**
Stocks (Publications DVD)
10 **Debtors**
Gift Aid claim(s) outstanding
Prepayments and accrued income
11 **Creditors:**
Accruals|**2024**
**£**
**1,155**
**1,155**
**2024**
**£**
**3,868**
**1,857**
**5,725**
**2024**
**£**
**400**
**400**|**Office**
**Equipment**| |---|---|---| |||**£**| |||**4,694**
**167**| |||**4,861**| |||**2,168**
**884**| |||**3,052**| |||**1,809**| |||**2,526**| |||2023
**£**
**1,434**| |||**1,434**| |||2023
**£**
**4,051**
**60**| |||**4,111**| |||2023
**£**
**2,414**| |||**2,414**| 13 ## **Great Eastern Railway Society** ## **Notes to Accounts** ## 12 **Movement in funds** |**Movement in funds**||||||||||| |---|---|---|---|---|---|---|---|---|---|---| ||||**Incoming**|||||||| ||||**resources**|||||||**At 31**| ||**At 1st**
**January 2024**||**(including**
**other**||**Resources**
**expended**||**Gross**
**transfers**|||**December**
**2024**| ||||**gains/losses)**|||||||| ||**£**||**£**||**£**||**£**|||**£**| |**Unrestricted funds:**||||||||||| |**General funds**|**115,344**||**33,174**||**(32,714)**||**-**|||**115,804**| |**Designated funds:**||||||||||| |Archive and Capital Projects||||||||||| |Account|**10,312**||**-**||**(2,548)**|||**-**||**7,764**| |**Total Unrestricted Funds**||||||||**-**||| |Total|**125,656**||**33,174**||**35,262**||**-**|||**123,568**| ## **Unrestricted Revenue Funds** These funds are held for the meeting the objectives of the charity, and to provide reserves for future activities, and, subject to charity legislation, are free from all restrictions on their use. ## **Designated funds:** Archive and Capital Projects Account For the acquisition, preservation or storage, of material for the archive established and maintained by the GERS. ## 13 **Analysis of net assets between funds** |Fixed assets
Net current assets|**Unrestricted**
**funds**| |---|---| ||**£**| ## 13 **Employees** The charity had no employees during the year. As a result, no employee-related costs, such as salaries or social 14 ## **Great Eastern Railway Society** ## **Notes to Accounts** ## 14 **Related Party Transactions** The following trustees were reimbursed for expenses incurred on behalf of the charity: |**Trustee**
B Anderson
B Watson
G Roper
N Bowdidge
P Walker|**2024**
**£**
**206**
**120**
**52**
**-**
**1,341**
**1,719**|2023
£
60
1,197
444
160
545
2,406| |---|---|---| No other payments were made to trustees, and there were no other related party transactions. ## 15 **Prior Year Adjustment** In the past, the charity classified designated reserves—specifically the Archive and Capital Projects Account—as a current liability. This misclassification resulted in the charity’s funds being understated by £10,312 in 2023. This has now been corrected, and the funds are accurately reflected in the financial statements. ## 16 **Gift aid** The charity has identified that some Gift Aid declaration forms are missing for donations where Gift Aid has been claimed. The trustees are actively working to collect the missing declarations from members and donors. While no adjustments have been made to the financial statements, there is a risk that some previously claimed Gift Aid may need to be repaid if valid declarations are not obtained. 15 The Charity Registration Number is :- 267275 ## THE GREAT EASTERN RAILWAY SOCIETY Report and Accounts ## 31-Dec-24 Mohammad Ali **Skyleaf** Chartered Certified Accountant 106 Coventry Road Ilford IG1 4RG ## **Great Eastern Railway Society** ## **Report and accounts for the year ended 31 December 2024** ## **Contents** ||**Page**| |---|---| |Reference and administrative information|1| |Trustees' report|2| |Independent examiner's report|5| |Statement of financial activities|6| |Balance sheet|7| |Notes to the financial statements|8 to 15| ## **Great Eastern Railway Society** ## **Reference and administrative information** **Trustees** Peter John Walker (Chair) Brian Arthur Watson (Secretary) Dr. Ian Bruce (Treasurer) appointed 16/03/2024 Graham John Roper Ruth Ann Ivimey-Cook Dr. Iain Charles Scotchman Nigel Bowdidge Bernard Joseph Anderson Neil Jackson Pearson resigned 09/02/2024 **Charity number** 267275 **Principal office** 6 Windmill Walk Sutton ELY Cambridgeshire CB6 2NH **Independent Examiner** Mohammad Ali FCCA Skyleaf Chartered Certified Accountant 106 Coventry Road Ilford Essex IG1 4RG **Bankers** NatWest 250 Bishopsgate London EC2M 4AA 1 ## **Great Eastern Railway Society** ## **Trustee’s Report For The Year Ended 31 December 2024** ## Reference and administrative details The Society’s membership numbers still lie between 950 and 1000, but the Committee is aware that an aging membership may result in a steady decline and has discussed how to evolve the Society further to meet the needs and preferences of our members and other people who benefit from our researches and our diverse resources. We have recently lost several long-standing, and hard-working, members who helped to shape the Society and make significant contributions to it. We are the poorer without them. Another consequence of the demographic of our membership has been that the majority of the work of the Society falls onto barely-sufficient numbers of people. That said, what those people do achieve is highly respected by other societies doing similar work. ## **Objectives and activities** Our Accounts accord with the recommendations of the Charities Commission with regard to the extent of our financial reserves and we continue to seek digitisation and other projects that fall in line with our constitutional objectives. The Society currently holds funds adequate to meet planned and anticipated expenditure for the next 12 months and in accordance with Charity Commission guidelines that sufficient funds be available for an orderly shutdown should the Society cease operations. Our Annual General Meetings and Half-Yearly Meetings include knowledgeable speakers, second-hand book sales, and time to socialise. We are working to improve facilities at each which include access from members unable to attend in person. We continue to publish four issues each year of our GE Journal, which concentrates on historical material from our area, and also four issues each year of the GE News, which is more focused on current railwayrelated activity in our geographical area of interest. With rising production and shipping costs, the Executive Committee is currently actively examining means by which those costs may be managed more economically. ## Achievements and performance An open Zoom meeting each month enables discussion matters pertinent to the Society, including the identification of submitted images and discussion of modelling matters. There is also an e-Group to which announcements, messages and queries can be posted, and the frequent helpful responses draw on the collective knowledge of those participating. There is now an opt-in WhatsApp Group, run by our Modelling Co-ordinator, in which our modellers can share tips and information on their projects. Although only a few months old, it is very active with (typically) 10-30 postings a day. 2 ## **Great Eastern Railway Society** ## **Trustee’s Report For The Year Ended 31 December 2024** The Photographic Digitisation Working Group continues to work diligently through the year to digitise and catalogue our extensive collection of photographic and other images in order to make them more easily accessible by Society members and the general public through a dedicated website linked to that of the Society itself. Barry Jackson, as Publication Sales Officer, has had yet another very successful year selling files and documents and making new discs and downloads available to members and non-members. Our Exhibitions Manager, Nigel Bowdidge, has attended a number of model railway exhibitions on our behalf and we are reviewing the list for 2025. Two day-long visits for members took place during the year and were well attended and enjoyed. A similar programme will be offered this year and it is hoped we shall be able to arrange transport help for our less able members. ## Financial review The Annual Return for 2024 will be submitted to the Charities Commission, including notifications of Trustee changes. The Executive Committee is conducting a periodic audit of our membership to ensure our records are up to date as regards Gift Aid. At the time of preparing this Trustees report, the final account figures for the year are undergoing independent examination. Final account figures should be made available at the AGM on Saturday 15[th] March 2025. ## Structure, governance, and management Four Executive Committee meetings each year are conducted using the Zoom program. However, a minimum of two Executive Committee meetings per year, plus the Annual General Meeting and the Half-Yearly Meeting are always held in person. Our President, John Watling, has taken the decision to step back from active day-to-day involvement in the Society. The excellent liaison between him and the Essex Record Office, where our historic Collection is held, is now in the hands of long-time Trustee Bernard Anderson. A storage unit has been rented to store donations of photographs and documentation of significance pending sorting and formal acquisition followed by transfer to the ERO. Bernard Anderson has stood down as Treasurer and is replaced by new Trustee Dr Ian Bruce. ## Plans for future periods Our planned calendar of visits for members to railway-related sites of interest in 2025 includes visits to the East Anglian Railway Museum, the Colne Valley Railway and the Mid-Norfolk Railway plus a couple of visits to some restored railway buildings now in use as family homes. We are looking at opportunities to tie-in Society activities with the Rail 200 celebrations throughout East Anglia. 3 ## **Great Eastern Railway Society** ## **Trustee’s Report For The Year Ended 31 December 2024** We shall take our GER Society displays to a number of model railway exhibitions again this year to publicise the resources we have for modellers and also those manufacturers who create miniature versions of railway items. Now that our processes for receiving and accessioning donated paper items have been updated by the renting of a storage unit, we shall be booking “sorting days” at which donated items can be assessed for incorporation into our Collection in a way that makes them available to members and non-members for research purposes. The Photographic and Digital Working Party will continue to sort and scan our collection of images and, where allowed by copyrights and permissions, make them available to members and non-members. A small working group has been formed to consider revisions to our Constitution in the interests of improving our election processes. Our Independent examiner as appointed by bord of trustees is Mohammad Ali FCCA of Skyleaf. Approved by the board of trustess on ….........................................and signed on there behalf by15th March 202515th March 2025 **Dr. Ian A. BruceBrian A Watson Treasurer, Great Eastern Railway SocietySecretary, Great Eastern Railway Society** 4 ## **Independent Examiner's Report to the Trustees of Great Eastern Railway Society** I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2024 which are set out on pages 6 to 15 ## **Responsibilities and basis of report** As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination. ## **Signed:-** ## **Mohammad Ali FCCA - Independent Examiner** ## **Chartered Certified Accountant** 106 Coventry Road Ilford IG1 4RG This report was signed on 15th March 2025 5 ## **Great Eastern Railway Society** ## **Statement of Financial Activities for the year ended 31 December 2024** |**Note**
Donations and legacies
3
Charitable activities
4
Investments
5
Total
**Expenditure on:**
Charitable activities
6
**Net gain on investments**
Net Income/ ( Defecit)
Transfers between funds
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|**Total Fund**
**2024**
**£**
28,509
3,615
1,050
33,174
35,262
35,262
(2,088)
-
(2,088)
125,656
123,568|**Restated**
Total Fund
2023
£
28,944
5,255
854| |---|---|---| |||35,053
33,370| |||33,370| |||1,683
-| |||1,683
123,973| |||125,656| ## Note The charity has not received any restricted income. The annexed notes form part of these financial statements 6 ## **Great Eastern Railway Society** ## **Balance Sheet** |**As at 31 December 2024**
**Charity No.267275**
**Notes**
**Fixed assets:**
Tangible assets
8
**Current assets**
Stocks
9
Debtors
10
Cash at bank and in hand
**Creditors:**Amount falling due within one year
11
**Net current assets**
**Total assets less current liabilities**
**Total net assets**
**The funds of the charity**
**Unrestricted funds**
General funds
**Designated funds:**
Archive and Capital Projects Account
**Total funds**
12|**2024**
**£**
**1,809**
**1,809**
**1,155**
**5,725**
**115,279**
**122,159**
**(400)**
**121,759**
**123,568**
**123,568**
**115,804**
**7,764**
**123,568**|**Restated**
2023
£
2,526| |---|---|---| |||2,526
1,434
4,111
119,999| |||125,544
(2,414)| |||123,130
125,656| |||125,656| |||115,344
10,312| |||125,656| The Trustees acknowledge their responsibilities for complying with the requirements of charity legislation with respect to accounting records and the preparation of accounts. The Trustees are satisfied that, although the charity is not registered under the Companies Acts, if it were so registered, it would be eligible to prepare accounts in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime. The financial statements were approved by the board of trustees on…......................................15th March 2025 and signed on their behalf by: Dr. Ian Bruce Treasurer The annexed notes form part of these financial statements 7 ## **Great Eastern Railway Society** ## **Notes to the financial statements for the year ended 31 December 2024** ## **1 Accounting policies** ## **Basis of preparation** The financial statements have been prepared on an accruals basis, following the historical cost convention, in compliance with Financial Reporting Standard 102 (FRS 102), effective from 1 January 2016. They also adhere to the SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, which applies to accounting periods starting on or after 1 January 2019. The SORP was issued by the Charity Commission for England and Wales (CCEW). The charity has prepared its accounts in line with SORP 2019, superseding the previously applicable SORP 2005, which has now been withdrawn. While the Charities (Accounts and Reports) Regulations 2008 still reference SORP 2005, this financial statement has been prepared in accordance with SORP 2019 to align with current best practice. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note. The financial statements have been prepared under the historical cost convention. ## **Public benefit entity** The charity meets the definition of a public benefit entity under FRS 102. ## **Going concern** The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. ## **Income** Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably. Where donations and grants are restricted to future accounting periods, they are deferred and recognised in those future accounting periods. Grants for immediate financial support and assistance, or to reimburse costs previously incurred, are recognised immediately 8 ## **Great Eastern Railway Society** ## **Notes to the financial statements for the year ended 31 December 2024** For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material. ## **Interest receivable** Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. ## **Income from membership subscriptions** Membership subscriptions received in the nature of a gift are recognised in Donations and Legacies. Membership subscriptions which gives a member the right to buy services or other benefits are recognised as income earned from the provision of goods and services as income from charitable activities ## **Stock** Stock is valued at the lower cost and net realisable value ## **Fund accounting** Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund. Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes. Designated funds are unrestricted funds earmarked by the trustees for particular purposes. 9 ## **Great Eastern Railway Society** ## **Notes to the financial statements for the year ended 31 December 2024** ## **Expenditure and basis of apportioning costs** Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis with the irrecoverable element of VAT included with the item to which it relates and has been classified under headings that aggregate all costs related to the category. Expenditure is classified under the following activity headings: **Charitable activities:** Expenditure on charitable activities includes costs associated with the delivery of the charity's activities and services for its beneficiaries, and include both the direct costs and support costs relating to these activities. Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements. Support costs include office costs and those of other central functions. ## **Tangible fixed assets and depreciation** Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows: Office Equipment 20% on cost ## **Cash at bank and in hand** Cash at bank and in hand includes cash and short term highly liquid investments. The trustees seek to use short term deposits to maximise the return on monies held at the bank and to manage cash flow. The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. ## **Debtors** Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 10 ## **Great Eastern Railway Society** ## **Notes to the financial statements for the year ended 31 December 2024** ## **Creditors and provisions** Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. ## **Volunteers and donated services and facilities** The value of services provided by volunteers is not incorporated into these financial statements as it is impractical to estimate such value. Where services and facilities are provided to the charity as a donation that would normally be purchased from our suppliers, this contribution is included in the financial statements at an estimate based on the value of the contribution to the charity. 11 ## **Great Eastern Railway Society** ## **Notes to Accounts** |**For the year ended 31 December 2024**
3
**Income**
Subscriptions
Gift Aid reclaim
Donations
Surplus on meetings,
4
**Charitable activities**
Publication Sales
5
**Investments**
Bank Interest
**Total income**
6
**Expenditure**
Unrestricted Funds
Journal - Production
- Distribution
News - Production
- Distribution
Investment in Digitised Magazine Projects
Goverance Costs Note 7
Postage & Telephone
Stationery etc
Stock Purchases and Cost of Goods Sold
Commission
Administration
Publicity
Insurance
Depreciation
**Expenditure from Designated Reserve**
Handbook printing & distribution
Purchase of Items for Collection
Temporary storage
Conservation
Total Expenditure
7
**Goverance Costs**
Independent Examiner fees
AGM Meeting|**Total funds**
**2024**
**£**
**23,865**
**3,907**
**617**
**120**
**28,509**
**3,615**
**3,615**
**1,050**
**1,050**
**33,174**
**2024**
**£**
**5,500**
**7,292**
**3,796**
**8,156**
**3,563**
**1,012**
**148**
**50**
**279**
**316**
**1,307**
**291**
**120**
**884**
**32,714**
**2,310**
**147**
**39**
**52**
**2,548**
**35,262**
**400**
**612**
**1,012**|Total funds
2023
£
24,370
4,106
309
159| |---|---|---| |||28,944| |||5,255| |||5,255| |||854| |||854| |||| |||35,053| |||2023
£
5,939
6,936
4,060
6,402
4,342
1,215
185
25
256
356
1,892
280
162
939| |||32,989
48
333| |||381| |||**33,370**| |||100
1,115| |||**1,215**| 12 ## **Great Eastern Railway Society** ## **Notes to Accounts** ## **For the year ended 31 December 2024** |8 **Tangible fixed assets**
Cost or revaluation
At 1st January 2024
Additions
**At 31 December 2024**
**Depreciation and impairment**
At 1st January 2024
Depreciation charge for the year
**At 31 December 2024**
**Net book values**
**At 31 December 2024**
At 31 December 2023
9 **Stocks**
Stocks (Publications DVD)
10 **Debtors**
Gift Aid claim(s) outstanding
Prepayments and accrued income
11 **Creditors:**
Accruals|**2024**
**£**
**1,155**
**1,155**
**2024**
**£**
**3,868**
**1,857**
**5,725**
**2024**
**£**
**400**
**400**|**Office**
**Equipment**| |---|---|---| |||**£**| |||**4,694**
**167**| |||**4,861**| |||**2,168**
**884**| |||**3,052**| |||**1,809**| |||**2,526**| |||2023
**£**
**1,434**| |||**1,434**| |||2023
**£**
**4,051**
**60**| |||**4,111**| |||2023
**£**
**2,414**| |||**2,414**| 13 ## **Great Eastern Railway Society** ## **Notes to Accounts** ## 12 **Movement in funds** |**Movement in funds**||||||||||| |---|---|---|---|---|---|---|---|---|---|---| ||||**Incoming**|||||||| ||||**resources**|||||||**At 31**| ||**At 1st**
**January 2024**||**(including**
**other**||**Resources**
**expended**||**Gross**
**transfers**|||**December**
**2024**| ||||**gains/losses)**|||||||| ||**£**||**£**||**£**||**£**|||**£**| |**Unrestricted funds:**||||||||||| |**General funds**|**115,344**||**33,174**||**(32,714)**||**-**|||**115,804**| |**Designated funds:**||||||||||| |Archive and Capital Projects||||||||||| |Account|**10,312**||**-**||**(2,548)**|||**-**||**7,764**| |**Total Unrestricted Funds**||||||||**-**||| |Total|**125,656**||**33,174**||**35,262**||**-**|||**123,568**| ## **Unrestricted Revenue Funds** These funds are held for the meeting the objectives of the charity, and to provide reserves for future activities, and, subject to charity legislation, are free from all restrictions on their use. ## **Designated funds:** Archive and Capital Projects Account For the acquisition, preservation or storage, of material for the archive established and maintained by the GERS. ## 13 **Analysis of net assets between funds** |Fixed assets
Net current assets|**Unrestricted**
**funds**| |---|---| ||**£**| ## 13 **Employees** The charity had no employees during the year. As a result, no employee-related costs, such as salaries or social 14 ## **Great Eastern Railway Society** ## **Notes to Accounts** ## 14 **Related Party Transactions** The following trustees were reimbursed for expenses incurred on behalf of the charity: |**Trustee**
B Anderson
B Watson
G Roper
N Bowdidge
P Walker|**2024**
**£**
**206**
**120**
**52**
**-**
**1,341**
**1,719**|2023
£
60
1,197
444
160
545
2,406| |---|---|---| No other payments were made to trustees, and there were no other related party transactions. ## 15 **Prior Year Adjustment** In the past, the charity classified designated reserves—specifically the Archive and Capital Projects Account—as a current liability. This misclassification resulted in the charity’s funds being understated by £10,312 in 2023. This has now been corrected, and the funds are accurately reflected in the financial statements. ## 16 **Gift aid** The charity has identified that some Gift Aid declaration forms are missing for donations where Gift Aid has been claimed. The trustees are actively working to collect the missing declarations from members and donors. While no adjustments have been made to the financial statements, there is a risk that some previously claimed Gift Aid may need to be repaid if valid declarations are not obtained. 15