**Registered No. 01927652**
**CHOLSEY & WALLINGFORD RAILWAY PRESERVATION SOCIETY**
## **Trustees Report and Financial Statements**
**for the year ended 31 December 2024**
## **CHOLSEY & WALLINGFORD RAILWAY PRESERVATION SOCIETY**
## **Company Information**
## **Board of Directors**
Michael Palfrey (Chairman) Tim Fediw Andrew Midwinter John Sharman Robert Hill Mark Savery Natalie Wilson
## **Secretary**
John Stout
## **Registered Office**
5 Hithercroft Road Wallingford Oxfordshire OX10 9GQ
**Registered Company No.:** 01927652 **Registered Charity No.:** 295279
**Bankers:** Barclays Bank plc SumUp Financial Institution plc
|**Table of contents**|**Page**|
|---|---|
|Company Information|1|
|Trustees Report|2-8|
|Statement of Financial Activities|9|
|Statement of Financial Position|10|
|Notes to the Financial Statements|12-17|
Page 1
## **Report of the Trustees for the year ended 31 December 2024**
## **Objectives, activities and purpose**
The Trustees have referred to the Charity Commission’s general guidance on Public Benefit when reviewing their aims and objectives and in planning future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.
The charity’s principal objective is to maintain and preserve the 4km stretch of standard gauge heritage railway line between Cholsey and Wallingford in Oxfordshire, being most of the former Wallingford branch of the Great Western Railway (GWR).
The Cholsey and Wallingford Railway Preservation Society (CWRPS) was formed to both conserve the line and provide a tourist service to generate the necessary funding. The Society ran its first public train on a small track section in 1985 with the first train travelling the full length of the line in 1997. During 2021 the Maidenhead Canopy project was completed as the first key stage of a strategic plan to develop the railway station site at Wallingford,and work has continued since to develop Wallingford station site including the recreation of a passenger canopy which enhances the station complex.
Strategic level plans are in place for a full station building which is planned to be built in stages.
In addition to conservation and tourist activities, the CWRPS works towards:
1. Keeping history alive by safeguarding its collection of historic artefacts through which its members and the public can actively view an aspect of social, technical and cultural history
2. Ensuring the financial stability of the organisation by endeavouring to establish continuity of income thereby ensuring the sustainability of the Society
3. Bringing together, in a not-for-profit environment, volunteers using a range of skills in the furtherance of the Society’s objectives.
## **Structure, Governance and Management**
## Governing document
The Cholsey & Wallingford Railway Preservation Society is a company limited by guarantee, incorporated on 1 July 1985 and registered as a charity. It is governed by its Memorandum of Association and Articles of Association. In the event of the company being wound up, each member is required to contribute £1 as limited by the guarantee.
## Recruitment and appointment of Trustee Board
The directors of the company are also charity trustees for the purposes of charity law and, under the company’s Articles of Association, are members of the Trustee Board. The Articles of Association require a proportion of the members of the Trustee Board to stand down each year.
Page 2
## **Report of the Trustees for the year ended 31 December 2024 (continued)**
All members are advised of the retiring trustees prior to the AGM and are invited to make nominations accordingly.
The Board has a range of financial, operational, engineering and management backgrounds.
## Trustee induction and training
No formal selection or induction procedures exist aside from elections at the Annual General Meeting (AGM). Appointments to the Board arise at the via the nomination process at the AGM or by way of co-option on to the board from recommendations of existing board members or the Society membership at large. Such recommendations are invariably based on a proven record of service to the Society, or particular skill sets to enhance the society.
The Board adopted a summary level skills matrix in 2024 to monitor the skills & development needs of the board to to help focus recruitment of future board members.
## Organisational structure
Under the Articles of Association, the maximum and minimum numbers of Board members is to be determined by the Society. The current maximum of 12 was adopted at the Extraordinary General Meeting in November 2019, and the minimum number is six. The Board is responsible for the strategic direction and policy decisions of the charity as well as all aspects of health and safety. It generally meets every month.
In addition to the Board, there are various sub-committees covering commercial operations and the Permanent Way.
## Co-operation with other organisations
The charity is a member of the Heritage Railway Association (HRA). The HRA promotes the interest of its members in the heritage and tourist railway and tramway sector and encourages good practice in all fields. It represents its members interests to government and other bodies and maintains high standards in the sector by requiring members to conform to the Association’s Code of Conduct. The HRA provides professional advice and other such help and assistance as appropriate.
## Risk Management
The Trustees have a risk management strategy which includes:
- a continuous review of its policies, systems and procedures to ensure consistency with best practice and to identify any potential risks and uncertainties
- the establishment of robust policies, systems and procedures to mitigate any risks and uncertainties identified
- the implementation of procedures designed to minimise or manage any potential impact on the Society should those risks materialise
Page 3
## **Report of the Trustees for the year ended 31 December 2024 (continued)**
Both trustees and volunteers alike are suitably trained, supported and supervised as they carry out their activities for the charity. Appropriate and adequate insurance is in place to provide cover for those carrying out work for and on behalf of the charity.
The Board actively manages its financial risk by regular reviews of available funds and ensures that internal control risk is minimised by employing procedures that require all transactions to be properly authorised and recorded in the Society’s accounts.
Furthermore, it strives to increase its resources, not only from its main activities - passenger, shop and café operations - but also from subscriptions and donations.
## – Achievements and Performance (2023 2025)
There are times when I take a moment to consider the progress we have made in the last few years, and I am stunned by the achievements of a dedicated band of volunteers working together for nothing other than the love of our railway. As ever, these wonderful people have my heartfelt gratitude. On that note, I will again take the opportunity to pay tribute to Anthony (Tony) Peters. Tony was a fount of knowledge when it came to railways, a dedicated volunteer and Board member and, above all, a good friend. He will be sadly missed by many people involved with heritage railways around the country.
## 2023–2024 Highlights:
- Highly successful events: cheese and wine train, Murder Mystery, BunkFest, Back to the Forties, Wallingford Fryers – all well attended and generating significant income.
- Completion of the ‘Garden Canopy’ project and a new coal clamp at Wallingford Station.
- Return of the red TSO coach to traffic, doubling Santa Train capacity in 2024.
- Progress on restoring the Toad and brake coach
- 2024 was one of our most successful years, both financially and in terms of volunteer and passenger engagement.
## 2024–2025 Momentum:
- Record revenues: £204,273 in 2024, reflecting resilience and growth with a record for Bunkfest revenues, which was again exceeded in 2025!
- Events: Cream Tea Trains, Fish & Chips Trains, Magic Express specials, Santa Express 2024, and themed services like the Murder Mystery all delivered strong demand and satisfaction.
- Infrastructure: Preventative maintenance and targeted renewals advanced, addressing backlog areas in rail, sleepers, drainage and vegetation.
- Safety: SMS reviews completed, with competence management and staff briefings embedded.
- 2025 family focus: School-holiday specials with character visits (PAW Patrol, Blippi), driver’seye diesel railcar rides, and a strengthened presence at Stoke Row Steam Rally.
- Community celebrations: Railway200 marked with 16 round-trip services from Wallingford, widely promoted and enjoyed.
Page 4
## **Report of the Trustees for the year ended 31 December 2024 (continued)**
- Rolling stock partnerships: Arrival of locomotive _Kilmersdon_ for the 2024 Santa Trains, thanks to collaboration with the Watercress Line and Somerset & Dorset Railway Trust.
- Marketing: Expanded social media campaigns, nostalgic “Throwback Thursday” content, and strong engagement with local suppliers.
- Santa Express 2025: Early-bird sales trending around the same level as last year, as once again we have featured in “The Times” as one of the best of the Santa Trains in the country.
## **Priorities for 2025–2026**
- Grow Santa Express 2025 with improved visitor flow and ancillary spend.
- Advance track and infrastructure renewals (sleepers, drainage, level crossings, vegetation).
- Deliver our key events to maintain building financial resiliance.
- Scale volunteer recruitment and training, particularly for P-Way and operational grades.
- Strengthen partnerships with councils, tourism bodies and suppliers.
- • Ensure that a suitable pit for locomotive maintenance is fully, planned and progressing
## **Acknowledgements**
The Trustees thank all volunteers, members, visitors, neighbours, partners and donors. Your commitment keeps the line alive and ensures future generations can enjoy our living railway.
## **Financial Review**
The financial performance of the society has had a very strong year, although we are cognisant of the cost of living crisis and reduction in consumer discretionary spend which may have an our performance in the future.
## Income
Income during the year totalled £204,273 (2023: £149,006), this was primarily a result of strong sales from ‘The Santa Express’ and Bunk Fest and a legacy from an previously unknown benficiary. 2024 was our busiest ever year.
Other income £1,625 (2022: £1,363) related to the improvement of the selection of stock in the shop during the Santa season, and catering from the Coffee Stop.
## Expenditure
During the year, we continued to prudently invest in improving the site at Wallingford and our track and other structures where necessary. A significant amount of the expenditure related to the improving the station site.
There was a large unrestricted surplus for the year of £19,107 (2023: £23,539), whilst slightly down on the prior year, reflects the ongoing investment into projects around the railway. The primary purpose of this surplus is to re-invest into the railway to continue to generate future income. Proposed projects which have been agreed by the board, subject to final sign-off.
Page 5
## **Report of the Trustees for the year ended 31 December 2024 (continued)**
## Financial position
The Charity had cash reserves of £270,792 at 31 December 2024 (2023: £213,801).
## Investment policy
Under the Memorandum and Articles of Association, the Charity has the power to make any investments that the Trustees see fit.
## Reserves policy
In 2020 the Board of Directors opted to revise the reserves policy to ensure that the Society would have around 12 months’ worth of expenditure held in reserves, plus any required for the seasonality of income streams and future capital investment. This was reviewed again in 2023 and confirmed as appropriate. In addition to hold 12 months’ worth of expenditure, the society will hold funds for significant capital projects including the station building. Funds relating to the future station are currently provisionally ring fenced as part of the costing exercise.
The significant reserves (in excess of the policy) are being held to make improvements to the railway in the medium term including the strategic development of the Wallingford station site, additional resilience to rolling stock, continued maintenance of historical assets and continuous improvement to our permanent way. A fully brick building based on a set of specifications that the board have proposed from evaluation purposes has been costed at around £450,000.
The trustees believe that this will provide sufficient funds to cover a significant fall in revenue, or unplanned capital expenditure that may be required.
## Subsidiary Operation
The company has a 100% owned subsidiary in the year for potential trading and name protection reasons, at the date of signing of this report, the company is dormant, having not traded.
Page 6
## **Report of the Trustees for the year ended 31 December 2024 (continued)**
## **Trustees responsibilities in relation to the financial statements**
The charity trustees, who are also the directors of the Cholsey and Wallingford Railway Preservation Society for the purposes of company law, are responsible for preparing financial statements for each year which provide a true and fair view of the state of affairs of the Company and of the incoming resources and the application of those resources, including the income and expenditure. In preparing these financial statements, the trustees are required to:
- Select suitable accounting policies and apply them consistently
- Observe the methods and principles in the Charities SORP
- Make judgements and estimates that are reasonable and prudent
- State whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements
- Prepare the financial statements on a going concern basis unless it is inappropriate to presume the charity will continue in operation
The trustees are responsible for maintaining proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for
safeguarding the assets of the charity and hence for taking reasonable steps to prevent and detect fraud and other irregularities.
Page 7
## **Report of the Trustees for the year ended 31 December 2024 (continued)**
## **Trustees**
The Directors set out have held office during the period 1[st] January 2023 to 31[st] December 2024 were as follows:
Mr Tim Fediw Ms Natalie Hills Mr Rob Hill Mr Andrew Midwinter Mr Peter Mitchell (regisned) Mr Michael Palfrey Mr Antony Peters (died) Mr Mark Savery Mr John Sharman
Approved by the Trustees and signed on their behalf by:
Michael Palfrey Chairman Cholsey & Wallingford Railway Preservation Society
Date: 30 September 2025
Page 8
## **CHOLSEY & WALLINGFORD RAILWAY PRESERVATION SOCIETY**
## Statement of Financial Activities and Income & Expenditure account for the year ended 31 December 2024
|**Income:**
a) Generated funds:
i) voluntary income:
- donations & membership subscriptions
b) Charitable activities:
c) Investment:
d) Grants:
e) Other:
**Total income:**
**Expenditure:**
a) Costs of raising funds:
- voluntary income / activities for generating funds
b) Charitable activities:
c) Grants:
d) Governance:
**Total expenditure:**
**Net income and net movement in funds for the year**
Total funds brought forward:
**Total funds carried forward:**|Restricted
Unrestricted
2024
2024
2024
2023
£
£
£
£
-
26,504
26,504
20,126
-
156,605
156,605
109,104
-
492
492
297
19,047
-
19,047
18,116
-
1,625
1,625
1,363
**19,047**
**185,226**
**204,273**
**149,006**
-
163,979
163,979
105,418
17,447
-
17,447
38,116
-
2,139
2,139
1,933
**17,447**
**166,118**
**183,565**
**145,467**
**1,600**
**19,108**
**20,708**
**3,539**
-
290,456
290,456
286,917
**1,600**
**309,564**
**311,164**
**290,456**
Total Funds|2023|
|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
All income and expenditure derives from continuing activities.
Page 9
## **CHOLSEY & WALLINGFORD RAILWAY PRESERVATION SOCIETY**
Statement of Financial Position at 31 December 2024
## **Registered Company No.: 1927652**
|**Fixed Assets**
Tangible Fixed Assets
Investments
**Current Assets**
Stock
Debtors
Cash at bank and in hand
**Current Liabilities:**
Creditors: Amounts falling due within one year
**Net Current Assets / (Liabilities)**
**Total Assets less Current Liabilities**
Creditors: Amounts falling due after more than one year
**Funds**
Unrestricted Fund
Restricted Funds|2024
2023
£
£
454,861
466,666
1
-
454,862
466,666
6,500
12,500
-
765
270,792
213,801
277,292
227,066
46,343
20,648
230,949
206,418
685,811
673,084
374,647
382,628
**311,164**
**290,456**
309,564
290,456
1,600
-
**311,164**
**290,456**|2023|
|---|---|---|
For the year ending 31 December 2023 the Company was entitled to exemption from audit under Section 477 of the 2006 Companies Act realting to small companies
The Members have not required the Company to obtain an audit in accordance with Section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts
These accounts have been prepared in accordance with the provisions of the regime applicable to micro-entities
These financial statements were approved and authorised for issue by the Board.
Michael Palfrey Date: 30 September 2025
Page 10
**CHOLSEY & WALLINGFORD RAILWAY PRESERVATION SOCIETY**
## Notes to the Financial Statements for the year ended 31 December 2024
## **1. Accounting policies**
## a) Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the regime applicable to micro-entities and the Companies Act 2006.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
## b) Preparation of the accounts on a going concern basis
The future of the Charity is dependant upon the continued financial support of its members and the success of the operating days and events planned for 2025. The Trustees are of the opinion that the Charity can continue to operate for at least a period of one year from the date of approval of these financial statements and have therefore prepared them on a going concern basis.
## c) Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of any of the purposes of the charity. Restricted funds are where grants and donations are for a specific, generally legally binding use only. The Trustees can designate funds to a certain project.
## d) Income recognition policies
Items of income are recognised when all of the following criteria are met:
1. The Charity has entitlement to the funds
2. Any performance conditions attached to the item(s) of income have been met or are fully within the control of the Charity
3. There is sufficient certainty that receipt of the income is considered probable, and
4. The amount can be measured reliably
## e) Grants
Grant income is recognised when there is: 1) entitlement to the grant, 2) virtual certainty that it will be received and 3) sufficient measurability of the amount. For Grants that relate specifically to the creation of a capital asset, are recognised as a creditor and amortised inline with the related capital asset.
## f) Expenditure
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 measure reliably
Cost of generating funds comprises those costs associated with attracting future income:
1. Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature to support them
2. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the Charity and any costs linked to the strategic management of the Charity
3. Overheads, including office expenses, have been allocated to the main Charitable Activities
Page 10
**CHOLSEY & WALLINGFORD RAILWAY PRESERVATION SOCIETY**
Notes to the Financial Statements for the year ended 31 December 2024
## g) Tangible fixed assets
Tangible fixed assets are capitalised at cost and depreciated at rates calculated to write off cost on a straight-line basis less estimated residual value of each asset over its estimated economic life. The annual rates are as follows:
|Track & ballast|2%|
|---|---|
|Land & buildings|5%|
|Maidenhead Canopy|2%|
|Plant & Machinery|15%|
|Catering & Other|20%|
## h) Stock
Stock is included at the lower of cost and net realisable value.
## i) Recognition of liabilities
Liabilities are recognised at the settlement amount 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.
## j) Corporation tax
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objectives.
## k) Operating lease
Rentals applicable to operating leases: where substantially all of the benefits and risk of ownership remain with the lessor, these are charged to the income and expenditure account on a straight line basis over the lease term.
## **2. Legal status of the Charity**
The Charity is a company limited by guarantee and has no share capital. In the event of the Charity being wound up, the liability of each member in respect of the guarantee is limited to £1.
Page 11
## **CHOLSEY & WALLINGFORD RAILWAY PRESERVATION SOCIETY**
## Notes to the Financial Statements
for the year ended 31 December 2024
|||2024
2023|
|---|---|---|
|**Note**|**3 **|£
£
**Charitable Activities**
Passenger receipts - Standard services
156,605
109,104
Polar express experience
-
-|
|||**156,605**
**109,104**|
|**Note**|**4 **|**Investment Income**|
|**Note**|**5 **|Interest received
**492**
**297**
**Grant Income**
**19,047**
**18,116**|
|**Note**|**6 **|The income has come from three sources:
The Railway Heritage Trust relating to the 'Maidenhead Canopy' Project - this is a non cash
Accounting adjustment (£7,981)
A grants from local authorities (SODC) £9,866, of which £1,600 remained unspent
at 31st December 2024
A small grant from a local developer to enhance aspects of Wallingford Station.
**Other Income**
Use of facilities
1,625
1,363
Rates Rebate
-
-
Sale of asset
-
-|
|||**1,625**
**1,363**|
Page 12
## **CHOLSEY & WALLINGFORD RAILWAY PRESERVATION SOCIETY**
## Notes to the Financial Statements
## for the year ended 31 December 2024
||||2024|2023|
|---|---|---|---|---|
||||£|£|
|**Note**|**7**|**Charitable Activities**|||
|||Operating Expenses|**163,980**|**105,418**|
|**Note**|**8**|**Grant Expenditure (specific material grants)**|**17,447**|**38,116**|
|||Expenditure relates to the depreciation of the Maidenhead Canopy|||
|||The GWR fund was fully spent in 2023|||
|**Note**|**9**|**Governance cost**|||
|||Trustee Indemnity insurance|2,139|1,933|
||||**2,139**|**1,933**|
|**Note**|**10 **|**Net incoming resources for the year**|||
|||This is stated after charging:|||
|||Depreciation|**22,196**|**24,222**|
|||No Trustee received renumeration.|||
|||Expenses received by Trustees relate to the cost|of purchase of materials||
|||and re-imbursed at cost|||
Page 13
## **CHOLSEY & WALLINGFORD RAILWAY PRESERVATION SOCIETY**
## Notes to the Financial Statements
for the year ended 31 December 2024
## **Note 11 Tangible Fixed Assets**
|"Maidenhead"
Canopy
£
Cost
At 1/1/2024
399,058
Additions
-
**At 31/12/2024**
**399,058**
Accumulated Depreciation
At 1/1/2024
23,943
Charge for the year
7,982
**At 31/12/2024**
**31,925**
Net Book Values
At 31/12/2024
367,133
At 31/12/2023
375,115|Track &
Ballast
£
54,457
10,023
**64,480**
18,816
1,289
**20,105**
44,375
35,642|Rolling
Stock
£
76,243
-
**76,243**
26,396
11,437
**37,833**
38,410
49,847|Land &
Buildings
£
21,674
-
**21,674**
15,980
1,083
**17,063**
4,611
5,694|Signal &
Telegraph
£
879
-
**879**
835
44
**879**
-
44|Plant &
Machinery
£
7,282
-
**7,282**
7,016
266
**7,282**
-
266|Catering &
Other
£
7,354
-
**7,354**
7,295
59
**7,354**
-
59|Office
Total
Equipment
£
£
1,417
568,365
368
10,391
**1,785**
**578,755**
1,417
101,698
36
22,196
**1,453**
**123,894**
332
454,861
-
466,667|
|---|---|---|---|---|---|---|---|
|||||||||
|
At 1/1/2024
Charge for the year
**At 31/12/2024**
Net Book Values
At 31/12/2024
At 31/12/2023||||||||
## **Note 12 Investment**
|Cost
At 1 January 2023
Provision
At**31 December 2023**|£
-
-
**-**|
|---|---|
The Charity's investment consists of ordinary shares in 4247 Ltd. The Charity owns one share (less than 1%) of the Ordinary Share Capital. The cost of this investment was £180, during the year ended 31 December 2020 the Directors re-assessed the likely return on investment and asessed the value as £nil. At 31st December 2023 the Directors reassessed and confirmed this value of being £nil.
Page 14
## **CHOLSEY & WALLINGFORD RAILWAY PRESERVATION SOCIETY**
## Notes to the Financial Statements
|||Notes to the Financial Statements|||||
|---|---|---|---|---|---|---|
|||for the year ended 31 December 2024||2024|2023||
|||||£||£|
|**Note**|**13 **|**Debtors**|||||
|||VAT receivable||-||-|
|||Due from Polar Express experience||-||-|
|||||-||-|
|||No Amounts were receivable in 2023 or 2024|||||
|**Note**|**14 **|**Creditors - Amounts falling due within one year**|||||
|||Unwind of capital grant (Amortistation)|7,982||7,982||
|||Accruals and deferred income|21,776|||-|
|||VAT relating to trading activities|16,585||12,666||
||||46,343||20,648||
|**Note**|**15 **|**Creditors: Amounts falling due after more than one year**|374,647||382,628||
|||In line with the accounting policy, the Hertiage Railway Trust grant relation to the|||||
|||"Maidenhead Canopy" will be amortised in line with the asset.|||||
|**Note**|**16 **|**Obligations Under Leases**|||||
|||At 31 December 2020 the charity made the following|||||
|||payments under non-cancellable operating leases:|||||
|||Land and buildings:|||||
|||Operating Leases which expire over 5 years|2,438||2,438||
Page 15
## **Independent examiner's report on the accounts**
## **Section A Independent Examiner’s Report**
|**Report to the trustees/**
**members of**
**On accounts for the year**
**ended**
**Set out on pages**|Charity Name
Cholsey & Wallingford Railway Preservation Society|Charity Name
Cholsey & Wallingford Railway Preservation Society|Charity Name
Cholsey & Wallingford Railway Preservation Society|
|---|---|---|---|
|||||
||31stDecember 2024|**Charity no**
**(if any)**|295279|
|||||
||1 to 17|||
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended. 31/12/2023
**Responsibilities and** As the charity's trustees, you are responsible for the preparation of the **basis of report** accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 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** I have completed my examination. I confirm that no material matters have **examiner's statement** come to my attention in connection with the examination (other than that disclosed below *) which gives me cause to believe that in, any material respect:
- the accounting records were not kept in accordance with section 130 of the Charities Act; or
- the accounts did not accord with the accounting records; or
- the accounts did 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.
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 to be reached.
**Date:** 24/10/2025
**Signed: Name:** Melanie Cornut
1
**Oct 2018**
**IER**
## **Relevant professional** MAAT **qualification(s) or body (if any):**
**Address:**
200 Crowmarsh Hill Crowmarsh Gifford, Wallingford Oxon OX10 8BG
## **Section B Disclosure**
Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).
**Give here brief details of any items that the examiner wishes to disclose** .
2
**Oct 2018**
**IER**
IER
Oct 2018