Company No. 1241335
THE HISTORIC COMMERCIAL VEHICLE SOCIETY
REPORT AND AccouNrs
for the
YEAR ENDED 31S1 OCTOBER 2025
Charity No. 271123
CONTENTS
Page
General inforn]ation
2to4
Truslees, report
Independent ex8miner's report
Statement of financial activities
Balance sheet
8t012
Notes forniing part of the a￿oUftts
*AEZStw*
021041202e
COPIPANIES HOLISE
A13

THE HISTO]UC COMMERCIAL VEHICLE SOCIETY
GENERAL fNFORMATION
TRUSTEES & DIRECTORS
Oliver Warburton (acting chainnan)
David Heasman (deputy chaiman)
John Kilby (treasurer)
Geoffrey Heels
Robert Wright
Sarah Carling-wright (secretary)
Steven Gray
COMPANY SECRETARY
REGISTERED OFFICE
Mutfords
Hare Street
Buntingford
Hertfordshire
SG9 OED
CHARITY No.
271123
COMPANY No.
1241335
DEPENDENT
ACCOUNTANT
Michelle A Hume
15 Porters Close
Buntin8ford
Hertfordshire
SG9 9BW
BANKERS
Lloyds Bat)k plc
Corporation Street
Blackpool Branch
PO Box 1000
BXI ILT

THE HISTORIC COMMERCIAL VEHICLE SOCIETY
DIRECTORS, AND TRUSTEES, REPORT
FOR THE YEAR ENDED 31" OCTOBER 2025
The Trustees (who are also directors of the charity for the pury)oses of the Companies Act)
present their annual report, together with the unaudited a¢count$ of The HistOTi¢ Commercial
Vehicle Society (the company) for the year ended 31" October 2025. The trustees confinn
that the annual report and accounts of the company comply with the cu￿ellt statutory
requirernents. the requirements of the company's governing document and the provision5 Of
the Accounting and Reporting by Charities Siatement of Recommended Practice (SORP) and
Financiaj Reporting Standard l 02.
Objectives and activities
The Society's objective continues to be the encourdgem¢nt of the preservation. restoration
and operation of historic commercial vehicle5 aJ]d ihe promolion and filltherance of the study
of, and research into such vehicles.
When plannin8 our athivities for the year. we have considered the Charity Commission's
guidance on public benefit as explained in more detail in the achievements and performance
section below.
Trustees and directors
Oliver Warburton (deputy chairn]an - appointed 12 April 2025)
Fraser Clayton (chairman- resigned 31, December 2025)
David Heasman (deputy chairnian)
John Kilby (treasurer)
Geoffrey Heels (resigned 10 November 2025)
Alan Greenwood (died 29, January 2026)
Robert Wright
Sarah Carling-wright (secretary - app)inted 12, April 2025)
Steven Gray (appointed 12 April 2025)
Risk Management
The Trustees have assessed tK)tential risks to the charity and iaken aclion to put into place
systems to mitigate those risks. Over the year the trustees will be reviewing and revising its
policies regarding business risks, financial risks. health and Safety risks and other identifiable
risks.
Achievem¢nts and performance
During the year, regular meetings have been held for Society members in six areas and we
have been able to carry out the Charity's aims for publi¢ benefit. Talks have been given on
historic commercial vehicles and allied subjects. Events such as road runs and static displays
of members. historic commercial vehicles have been carried on during this financial year.
The London to Brighton run was held with a new start from Brooklands and this proved to be
very popular.

THE HISTORJC COMMERCIAL VEHICLE SOCIETY
DIRECTORS. AND TRUSTEES, REPORT (Continued)
FOR THE YEAR ENDED 3 I. OCTOBER 2025
Financial revRew
Incoming resources were £88,710 (2024 - £87.140) and resources expended were £60.411
(2024 - £61,556). The surplus for the year of £28.299 (2024 - £25.584) fluctuated from the
previous year due to the investments. The value of the Society's investments increased in
value by £27.083 10 £185,278 as at 31, October 2025. These investmenls are intended to be
held for the long terni, and the Trustees continue to believe that they will increase in value in
coming years.
The principal source of income in the year was from membership subscriptions. No member5
of staff were paid in the year covered by these aCCOWLts.
Futhre plans
Future developments, as always. include th¢ making of representations to appropriate bodies
in connection with any proposed British regulations which could affect the retention and use
of historic Commercial vehicles. The Society uttlises draft legislation in order to keep up to
date with such prospeGtive developments. The Society is also a member of the F¢deration of
British Historic Vehicle Clubs which consults and lobbies on belmlf of British vehicle clubs.
Re$erves Policy
The Trustees aim to maintain at least a minimum level of reserves as recommended by the
Charity Commission, and to keep sufficient funds in order to see the funded projects to their
conclusion.
2025
2024
Unrestricted fimds
Revaluation reserve
£357,214
30.000
£328,915
30.000
£ 387,214
£358,915
Going Coneern
After making appropriate enquiries, the t￿stee5 have a reasonable expectation that the
company has adequate resources to continue in operational existence for ihe foreseeable
future. For this reason, they continue to adopt the going con¢¢rn basis in preparing the
accounts.

THE HISTORIC COMMERCIAL VEHICLE SOCIETY
DJRECTORS, AND TRUSTEES. REPORT (continued)
FOR THE YEAR ENDED 31" OCTOBER 2025
Structure) governance and m*nagement
The company is registered as a charitable company limited by gu￿antee, incorporated and
conslituted under Articles of Associalion, registered nurnber 1,241.335. It is an English
registered charity, number 271,123.
The managernent of the company is the responsibility of the trustees who are elected and co-
opted under the tern]s of the Article5 of Association. Addilional trustees may be co-opted by
the existing trustees as they deem advisable from lime to time. and then stand for election as
required by the Articles of Association.
The Trwstees of th¢ Society are fully responsible for the overall management of the Society,
and they meet regularly to manage its affairs. The Society has reduced the number of areas
to 6 and these are constituted in accordance with Article 33 of the Society's Memorandum
and Articles of Association aRd, the Officers theTrof report. directly to the Society Trustees.
Reference and athninigtrative details can k found on page l of the accounts.
This report has been prepared in accordance with the General Directions given by the Charity
Commissioners in the Charities Act 2011.
Trustees RespoDsibilities
The members have not required the. charity to obtaln an audit of its accounts for the year in
question in accordance with section 476. and the trustees acknowledge their responsibilities
for complying with the requirements of the Act with respect to accounting records and the
preparation of accounts.
This report was approved by the tnistées on 28 March 2026 and signed on their behalf by..
Oliver Warburton
Chainnan
Trustee

THE HISTORIC COMMERCIAL VEHICLE SOCIETY
INDEPENDENT EXAMfNER'S REPORT
FOR THE YEAR ENDED 31" OCTOBER 2025
Independent ExamiDer's Report to the Trustees of The Historic Commercial Vehicle
Society
I report to the charity trustees on my examination of the accounts for the year ended 31
October 2025 which are set out on pages 6 to 12.
Responsibilities and basis of report
As the charity trustees of the company (and also its al￿t0[$ for the Purposes of company
law) you are responsible for the preparation of the accounts in accordance with the
requirements of the Cornpgnies Act 2006 (the "2006 Act").
Having satisfied myself that the accounts of the company are not required to be audited under
Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of
my examination of your company's acwunts as carried out under section 145 of the Charilie5
Act 2011 ('the 2011 Act.). In carrying out my examination I have followed the Directions
given by the Charity Commission under section 145{5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confinn that no matters have come to my attention in
comiection with my examination giving me cause to believe that in any malerial respect:
accounting records were not kept in reSp￿t of the company as required by section 386
of the 2006 Act. or
the accounts do not accord with those records. or
the accounts do not ¢omply with the accounting requirements of section 396 of the
2006 Act other than any requir¢rnent that ihe accounts give a true and fair view which
is not a matter considered as part of an independent examination. or
the accounts have not been prepared in accordance with the methods and principles of
the Statement of Recommended Practice for accounting and reporting by charities
applicable to charities preparing their accounts in accordance with Financial Reporting
Standard applicable in the UK and Republic of ITeland (FRS 102).
I have no Concerns and have come across no other matters in connection with the
examination to which attention should be drawn in this report in order to enable a proper
understanding of the accounts lo be reached.
Michelle A Hume
Chartered Accountant
15 Porters Close
Buntingford. Hertfordshire
SG9 9BW
28 March 2026

THE HISTORIC COMMERCIAL VEHICLE SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31" OCTOBER 2025
note
2025
2024
INCOMtNG RESOURCES
Charilable activities
£ 48.222
£ 47,904
Donations
9.505
10.084
Investment income
3.900
4.321
Total incoming resources
£ 61.627
£ 62,309
RESOURCES EXPENDED
Charitable activities
33,775
33.154
Raising funds
Governance Costs
22,019
22,156
4,617
6,246
Total resources expended
£ 60.411
£61.556
Net in¢oming resources for the year
1.216
753
Net gains from investments
io
27.083
24,831
Net movement in funds for the year
28,299
25,584
Funds brought forward
328.915
303,331
Funds carried forward
£ 357,214
£ 328,915
The statement of financial activities includes ail gains and losses in the year.
All income and expenditure derive from continuing activities.
The notes on pages 8 to 12 forni part of these accounts

THE HISTORIC COMMERCIAL VEHICLE SOCIETY
BALANCE SHEET
31" OCTOBER 2025
Note
2025
2024
FIXED ASSETS
Tangible &ssets
Heritsge asset
Investments
£ i.iio
30,000
185,278
£ 1,221
30.000
158,195
io
216,388
189,416
CURRENT ASSETS
Stocks
Debtors and prepayments
CCLA deposit account
Bank balance
Area bank balances
£ 531
5.608
78,323
11,860
79,140
£ 351
16.801
75.004
16.494
81.774
175,462
190,424
CREDITORS - amounts falling
within one year
12
4.636
20,925
Net current assets
170.826
169,499
NET ASSETS
£ 387,214
£358.915
Represented by:
un￿StriCted funds
Revaluation reserve
357.214
30,000
328,915
30.000
£ 387.214
£ 358,915
For the year ended 31 October 2025 the charity was entided to exemption from audit under
section 477 of the Companies Act 2(KJ6 relating to smal! compantes.
Trustees Responsibilities-
The members have not required the charity to obtain an audit of its accounts for the year in
question in accordance with section 476" and the trnstees acknowledge their responsibilities
for complying with the requirements of the Act with respect to accounting records and the
pr¢paration of accounts.
These accounls were approved by the board of Trustees on 28 March 2026 and signed on its
behalf by..
Oliver Warburton
Chairn]an
The notes on pages 8 to 12 forrn part of these accounts

THE HISTORIC COMMERCIAL VEHICLE SOCIETY
NOTES TO THE AccouKrs
YEAR ENDED 31° OCTOBER 2025
l. Accounting policies
The charity constitutes a public benefit entity as defined by FRS102. The accounts have
been prepared in accordance Accounling and Reporting by Charities.. Ststement of
Recommended Practice applicable to charities preparing their accounts in accordance with
the Financial Reporting Siand8sd applicable in the UK and Republic of Ireland issued in
October 2019. the Financial Reporting Standard applicable in the United Kingdom and
Republic of Ireland (FRS 102). the Charities Act 2011 and UK Generally Accepted
Accounting Practice.
The significant accounting policies applied In the preparation of these financial statements
are set out below. These policies have been consistently applied to all years presented
unless othenwise slated.
Funds
Unrestricted funds are available for use at the discretion of the tnJste¢s in furtherance of
the general objectives of the charity and which have not been designaied for other
purpose5.
Ineoming resources
All inwming resources are included in the SOFA when the charity is le8ally entitled to
the incorne and the amount C8J] be quantified with reasonable accuracy. The following
specific policies ar¢ applied to particular categories of income..
'Incoming resources from ¢haritabl¢ trading activity Iiiclud¥s income earned trom
members subscriptions, fimdraising events and trading activities to raise fimds for the
charity. Incom¢ is recognised when entitlement has occurred.
Donations and voluntary income are recognised when receivable.
Investment in¢ome is included when receivable.
Resources expended
All expenditure is a¢counled for on an accruals basis and has been classified under
headings that aggregate all costs related to the category. All costs are allocated between
the expenditure categories of the Sialement of Financial A¢tivities on a basis designed to
reflect the use of the resource.
Costs of raising fimds comprise the costs as50¢iated with attracting voluntary income.
Expenditure on charitable activity includes magazine production cosls and those costs
associated with meeting the constitutional and slatutory requirements of the charity.
Governance costs include those costs associated with meeting the constitutiona] and
statutory r¢quirements of the charity.

THE HISTORtC COMMERCIAL VEHICLE SOCIETY
NOTES TO THE ACCOUNTS
YEAR ENDED 31" OCTOBER 2025
(continued)
Tangible fixed assets #nd depreciation
All tangible fixed assets costing more than £1,000 are capitalised and slated at cost less
depreeiation. Depreciation is provided at rates calculated to write off the cost or valuation
of fixed assets, less iheir estimated residual value. over their expected usefijl lives as
follows:
Equipment
Reference books
Challenge ¢ups and trophies
250/u on reducing balance
IOO/o on cost
at nominal value
Heritage assets - motor vehicle
The Leyland "Chivers" vehicle was donated to the charitable company and has been
capitalised as ihe t￿￿teeS constder the vehicle is a heritage assets. defined by the
Statement of Recommended Practice (SOB￿). 2019.
The heritage asset is slated al its insured value. The trustees consider the insured value is
a reasonable basis for valuation. The trustees eotisider that the vehicle h&% an indefinite
useful life and high residual value which would result in any depreciation charges being
immaterial and hence no depreciation is provided on such asset. The conlinuing retention
of this vehicle is direct furtherance of the charitable company's objects.
Inv¢$tments
Investments are stated at fair value at each reporting date with changes in fair value
reci)gnised in 'net gains on investments. in the SOFA.
Taxation
The charity is exempt from Co￿ratIOn Tax on its charitable activities.
Stocks
Stocks are valued at the lower of cost or net reaiisable value, after making due allowance
for obsolete and slow moving items.
Going Con¢¢rn
The financial statements have been prep￿ed on a going concem basi5 as the trustees
believe that no material uncertainties exist. The trustees have considered the level of fi￿dS
held and the expected level of income and expenditure for 12 months from authorising
tbese financial statements. The budgeted income and expenditure are sufficient with the
level of reserves for the charity to be able to continue a going concem.

THE HISTORIC COMMERCIAL VEHICLE SOCIETY
NOTES TO THE ACCOUNTS
YEAR ENDED 31" OCTOBER 2025
2025
2024
2. Ineome from charitAble activities
Membership subscriptions
Gift aid
Brighton rally
Area rallies nel income
Area donations
Activities g¢nerdting funds
Regalia surplusl{deficit)
£ 44,883
5.131
(2,461)
(779)
742
173
533
£ 40.741
9,000
(2.961)
34
449
793
(152)
£ 48.222
£ 47,904
3. Donalions
Donations
Insurance donations
Vehicle registrations
Advertising
£ 1.735
7.495
275
£ 1.230
8.744
iio
£ 9,505
£ 10.084
4. Investment income
Bank interesl receivable - CCLA
Bank deposit interest
Building society interest
3,318
454
128
4.034
287
£ 3,900
£4.321
5. Expenditure on charitable aetivities
Magazine
Area administratlon Costs
27.137
2,196
616
2.301
1,525
25,607
3.333
788
1,566
1.525
335
AGM
AGM circular
Chivers vehicle expenses
Sundry
£ 33,775
£33,154
10

THE HISTORJC COMMERCIAL VEHICLE SOCIETY
NOTES TO THE ACCOUNTS
YEAR ENDED 31" OCTOBER 2025
2025
2024
6. Cost of raising funds
Membership administration cosls
Membership renewal notice
Rent
Insuran¢e
Telephone
Printing. stationery and postage
Computer and website
Advertising and website
Calendars
Depreciation
Subscriptions
£ 4.852
1,725
6,811
1.566
1,186
1,416
447
2,894
£ 5.688
1,917
6,839
1.779
961
759
498
2,425
180
207
903
880
£22,019
£ 22,156
7. Governance e05ts
Costs of t￿￿te¢ meelings
Bank charges
Cost of confidenGe vote
Legal cosls of change of constitution
Accountancy fees
£ 1,842
474
£ 870
515
4.861
2,301
£4,617
£ 6.246
8. Tangible fixed xssets
Referenee Books
Equipment & Trophies
Cost
As at l Novetnber 2024
DisNysals
£ 39.093
As at 31, October 2025
£ 39,093
Depreciation
As at I" November 2024
Charge for the year
37,872
iii
As at 31, October 2025
£ 37.983
Net book value
As at 31, October 2025
£ i.iio
A5 at 31 October 2024
£ 1.221

THE HISTORJC COMMERCIAL VEHICLE SOCIETY
NOTES TO THE ACCOUNTS
YEAR ENDED 3 I" OCTOBER 2025
2025
2024
9. Heritage asset
Leyland
"Chivers"
As at l November 2024
Additions
£ 30.000
As at 31 October 2025
£ 30.000
The v¢hi¢le is stated at its insured value. The last insurance valuation was in
September 2019.
10. Fixed 4ss¢t investm¢nt
Funds and shares
Hargreaves Lansdown Fund
Brought forward
Profitl(loss) on revaluation
£ 158.195
27,083
£ 133.364
24.831
Value at 31" October 2025
£ 185,278
£ 158.195
11. Debtors and prepayments
Prepayments
Other debtors
3,342
2.266
2,496
14.305
£ 5,608
£ 16,801
12. Creditors: amounts falling due within one year
Subscriptions in adv8J]ce
Main Society accruals
3.316
1,320
19,605
1.320
£ 4.636
£ 20,925
13. Company sta￿S
The company is a company limited by guarantee. The members of the company are
the trustees named on page l. In the event of the company being wound up, the
liability in respect of the guarantee is limited to £1 per member of the Company.
12