CRS2Q23
Corris Railway Society
Registered Charity 506908
Annual Report and Financial Statements
For the year ended 31" December 2023

CRS 2Q23
Corris Railway Society
Reglstered Charity 506908
CONTENTS
Page
Legal and administrative infonnation
34
Chairnlan's Report on activity
Report of the Trustees
8-11
Independent Examiner's Report
12
Statement of Financial Activities
13
Balance Sheet
14
Statement of Cash Flows
15
Notes to the Accounts
16-25

CRS2023
Legal and Administrative Information
Society Officers
President..
Christopher Awdry
Vice Presidents..
Elfyn Llyd LIB
Sir George White Bt FSA
Mrs Elizabeth Overton
Members of the Management Committee who served during the year were asfollows..
Richard W. Hamilton-Foyn (Chair)
Patrick J Jolley (Vice Chair)
David K Colcman
Richard S Greenhough (Honorary Treasurer)
Richard C Shipman
Graeme D Jolley (Honorary Secretary)
Jack Evans
The Management Committee act as the Trustees of the Charity.
Members of Council who served during the vear were asfollows .
John Arnold (appointed 21 st October 2023)
Susan Benedetto
Ben Brotherwood
Richard Bryan (co-opted 22nd October 2023)
David K Colernan
Jack Evans
Ricliard S Grcenhough
Peter A Guest (died 26th Jiily 2023)
Richard W Hamilton-Foyn
David Tngrarn
Graeme D Jolley
Patrick J Jolley
Joc Knappett (appointcd 21 st October 2023)
Sam Kllappett
John A Knight
Bernard Morgan (appointed 21 st October 2023)
Willialn H NeNvton
Alfred J Oxford
Stephen J PaiT
Richard C Shipman
John Simms
Janice Stewart

CRS 2023
Financial and Legal
Legal Advisors
MoiTiS & Bates
Ffordd Alexandra
Aberystwyth
Cercdigion
SY23 IPT
Independent Examiner
Nigel Kavanagh Brown
Chaitered Accountant
Tideswell
Banlcers
HSBC
19 Great Darlcgate Street
Aberystwyth
Ceredigion SY23 IDE
Barclays Bank
32 High Street
Cai"digan
SA43 IHH
Headquarters
CO￿1$ Railway Museurn
Corris
Macliynlleth
Powys
SY20 9SH
Charity No
506908
Constitutlon
Thc Corns Railway Soci¢ty is a registered charity. It is
govcrned by a Constitution dated I Ith May 1968, with
amcndments up to 19di October 2019.
Subsidiaries and Associates The Corris Tattoo Locomotive Company Ltd, company
registration r]umber 3380113, As wholly owncd by the
Society, and constructs and operates new steam
locolliotives for the Corris Railway based on the design
of the railway's original locomotives.
The Corris Railway Company Ltd, company
registration number 1284837, operates as the Society's
trading company. Under the company's Memorandum
and Articles the Society has a built-in majority
shareholding and all other shareholders must be
Inembers of the Society.

CRS 2Q23
Corris Railway Society
Registered Charity 506908
Acting Chairnian's Report for 2023
After what was considered to be good year of progress in 2022, with many aspects of
the railway moving forward, 2023 got off to an unfortunatc start Wlth our Chairnian
Richard Hamilton-Foyn suffering a heart attack and having to remove himself from
Énvolvenient in the railway.
Following Richard's temporary withdrawal, some projects were re-delegated which
meant that 2023 continued to build on the success of 2022, the key element being the
delivery of locomotive No. 10 in late August.
Voluntcer nunibers rernained fairly good, with limited cancellations of scheduled
rnnning days throughout the year; the highlights below show what was achieved.
If anything has been inissed, then I can only apologise - everything our volunteers do
is appreciated. We are enonnously grateful to the dedicated team of volunteers who
have the most fantastic ' can do, attitude and endless enthusiasm and dedication to the
railway. Equally it is difficult to single out any one person, but we do need to pay
tTibute to Peter Guest who we sadly lost in 2023. Having been a major part of the
railway for nearly forty years, and also the drivAng force through much of the worlc for
No. 10, we were so pleased he got to see No. 10 in steam in 2022 at Alan Keefs. We
are all indebted for his many years of tireless work.
Locomotive No. 10
Starting in January there were a number of on-site visits to Keefs, to s¢¢ wh¢re we
were up to with the build, and to tentatively try to put a delivery date down. WoTk
continued through to Aprillmay, and finally agreement was reached to attempt
delivery bcfore the end of August. We had to factor in testing and acceptanc¢, and
still leave time to run the loco publicly before we closed for the season at the end of
September. The launch date was set for the 8" September, and we know there were
some late nights at Keef8 prior to dclivery, On the 30 Auoust, the loco was delivered
by our boiler inspector Graham Morris, and then began the start of a very busy nine
days of testing.
Friday 8, September ended lip being a glorious, hot summer's day and the loco
performed faultlessly - with rnany of the loco sponsors and press in attendance. On
Sattirday 9d, September the loco ran the first public service, and continued to run
through September. We ran extra days in S¢ptember and decided to run through the
first tliree weeks of October as well, in order to maximise the arrival of Mid-wales's
newest engine.
Oiir thanks must go to the team at Keefs for making this all possible, and the
voliinteers behind the scenes who worked on the financing and planning to inake sure
we could achieve this significant milestone.

CR3 ?Q23
Extendin
Southityayds
2023 proved to be a quiet year for extending south - thi5 all due to the delayed work
on the new Machynlleth Dyfi Bridge scheme. Fill material which had been promised
was not avdilable during 2023, and tl]is meant that we were unable to buiId the
embanlanent. Some material was delivered in smaller quantitles, and this meant there
was soine worli done, but it was evident that the main supply of material would not
happen until 2024.
Other Pro
ects
Volimteers working in the carriage shed fitted new Sprung Bliffers at one end of both
the PW and S&T waggons, removing the diimb buffers improving the ability to
a mixed train using our steam locomotives.
Additionally worlc was completed on rebuilding the timber trestle slab waggon,
allowing it to be moved to the North end of the carriage shed and be seen by the
passengers as part of history of the line.
Carriage 24 continlied to be worked on, with much of the woodmroi'k being cornpleted.
With the anniial vislt of the TR Tracksiders in Ju11e, a number of outstanding tasks
were completcd. These includcd finisliing the fencing at Corris Station and extending
the point lever platfomi, rc-roofing the dog slied (which has been subsequently
designated for PW use), painting at the miiseum and building a ncw base for the
signal at Maespoeth.
Civil En
ineeriI2
In March, the southern pit in tlie engine shed was altered to allow better drainage,
slightly more lieight and improved access. This was in preparation for the arrival of
No. 10 later in the year, allowing pit access to both locomotives as required.
Railwa
Érations
'ith the cessation of Welsh coal mining we started to use Heritage Steam coal, a
variant of what is known as Eco Coal, a more environmentally friendly coal with
si(rnificant less smol<e emissions. This was in response to the HRA guidelines issued
to the whole heritaoe sector to reduce ernissions and cut C02 levels. WhÉlst we
supported this initiative, the coal is more expensive and we also saw the effect of the
Ukraine warlenergy supply issues cause the cost of all coal to more than double.
In August, our eA-Dean Hill bralke Van Nuinber 220 'Boudicca' returned from the TR
after an agreed 5-year loan period - repainted and with buffers now fitted.

CRS 2Q23
Ive had a N'ery successful Model Railway Exhibition in August, and along with the
Santa trains in December much needed funds were raised and our thantis must go to
both sets of teams rnnning these eiTents.
Other Areas
At our October AGM weekend, Richard Greenhough stood down as Honorary
Treasurer and we thank him for many years of fvlfilling this role. Richard Bryan was
elected as Honorary Treasurer and John Wallbridge took on the role of book-keeper to
assist moving fonvard.
We also agreed that proposals for looking at the constitution, tlie make-iip of the
society and its two companies would be taken forward and worked on for 2024 - this
is again following recommendations of the HRA and the Charities Commission whiLh
other heritage railways are also working on.
All of the above shows that 2023 was another busy year, and with healthy passenger
numbers and two steam engines we are all looking fonvard to 2024 and beyond.
Patriclc Jolley
Acting Chairman
Corris Railway Society

CRS 2023
Trustees Report for 2023
The Trustees present their annual report on the affairs of the Charity, totrether with the
Financial Statements E￿d Independent Examiner's Report for the year ended 31st
December 2023. The Trustees haiTe adopted th¢ provisions of the Accounting and
Reporting by Cliarities . Statement of Recommended Practice applicable to charities
preparing thetr accounts in accordance with the Financial Reporting Standard
applicable in the United Kingdom and Republic of Ireland (FRS 102) effective from
accounting period commencing l January 2015 or later.
Principal objects activities
The objects of the Society as stated in its COnsti￿tion are to advance the education of
the general piiblic by encouraging and promoting the public interest in the study of the
former C.orris Railw'ay and to collect and exhibit to the piiblic all historical and
educational relics connected with the RaiIway which the Society may be able to
acquire, together with all other items of local interest. e.g. historical, industrial and
natural iterns.
The Society meets its objects by opei'ating the Corris Railway Museuin which
displays relics and photographs of th¢ Corris Railway and the district it served, and
has no entry charge for visitors. It also reseaTches and publishes Inaterial on the
history of the railway and district and runs study weekends exarnining aspects of the
hislory.
Working through its two liinited companies the Society has reconstructcd a scction of
thc original Corris Railway and bLiiIt new rolling stock matching that used on the line
in the nineteenth and carly twentieth century. Visitors are thus able to experience
something of what it was lilce to travel on the old railway. All passengers on the
restor¢d railway are shown round thc historic buildings at Maespoeth and given an
explanatory talk on thc railway's history.
Membership of the Society is open to all individuals and organisations which
subscribe to the Society's objects.
Organisational Structure
The Charity is ivholly UK based with its headqiiarters in Gwynedd, Wales. It is
governed by a Constitution dated Ilth May 1968 (WAth amendments up to l9tli
October 2019).
The Society's policy is deterniined by a Council, which is elected at the Annual
General Meeting. The Council determines from amongst its Members those most
appropriately qiialified and experienced to hold office on a Management Committee,
The members of this Management Conimittee act as the Trustees of the Charity.
The Society is wholly run by volunteers from amongst its membership and has no
paid ernployees.

CRS 2023
Connected Parties
The Societ}, holds a controlling interest in the CoiTiS Railway Company Limited and
the Corris Tattoo Locomotive Company Limited. Both companies are non-profit
distributing.
Review of Activities
A review of the activitles of the Charity and its associated companies is included in
the ChainrAan's Report.
Statement of Pllblic Benefit
In setting the objects and activities of the Charity, the Trustees have given careful
consideration to the Charity Commission's general guidelines concerning public
benefit.
By opening the Corris Railway Museum with no entry charge, members of the public
are encoiiraged to visit and learn about the history of the railway, the quarries it
serve(L and the COTnmuniti¢s of the valley through which it ran. Those who tal<e the
opportunity to travel on the restored section of the railway are also given a guided tour
of the railway's historic engine shed and works and a short talk on the railway's
history.
The Society also encourages members to research into aspects of local history and
publishes the results in its Joiirnal, which is provided free to Socicty Incmbers and
available on salc to mcmbers of the public. Society members also co-operate with
other historical rescarch¢rs studying aspects of the area in which th¢ Charity is based.
Policies
Reserves .
The Society aims to kecp its expendi￿re broadly in line with its income, ￿}d avoids
making financial commitsnents unless fLU]ds are in hand to meet thein. The Society
incurs relatively low overheads and is confident that its income streams are sufficient
to nicet them.
The Trustees have reviewed the Society's Reserves Policy, and resolved to retain the
eqUAIFalent of one year's operating costs in the Gcneral Fund, and to designate the
balance of the Unrestricted Funds towards the Development Fund.
Income and Investment .
Income
The Society derives its income from the following sources -
Membership subscriptions, donations trom n]embeTS and others, an annual Model
Railway Exhibition, raftles, l 00 Club, bank interest and grants.
Sufficient incoEn¢ necds to be generated to rneet the operating costs of the Society
which are -

CRS 2023
Printing and distribution of the quarterly newsletter "The Corris-Pondent and the
Journal, operation and maintenance of the Corris Railway Mi useum, and supporting
the work of the Corris Railway Company Ltd and the Corris Tattoo Locomotive
Company Ltd by fundraising for projccts undertaken by the two companies.
Jnvestments
The Society maintains a controlling interest in the Corris Railway Company Ltd
(which acts as its trading arm) and the Corris Tattoo Locomotive Company Ltd,
which has constructed and owns two steam locomotives (IN0.7 and No. l O), each based
on the design of the original Corris Railway locomotives. It has also acquired a diesel
locomotive (No. I l ) ftLnded by specific donations from Society members.
Any funds not needed for day-to-day expenses are placed on bank deposit at the
ighest availabIe interest rate.
The Society raises ftu]ds for projects imdertaken by the Corris Railway Cornpany Ltd
and the Corris Tattoo Locornotive Company Ltd and makes grants and loans to those
companies to carry out those Projects as required.
Risk Management .
The Society's Management Committee has assessed the major risks to which the
Society is cxposed, in particular those related to the opcrations and finances of the
Socicty, and is satisfied that systems are in place to mitigate exposure to the major
risks. Thcse procedures are periodically reviewed.
Fiduciary Failings
Thc Socicty is rcliant on its volunteer inembers undertaking work on its behalf in their
spare time, ￿ld considers their willingness to do so an indication that they have the
Society's interests at heart and ai"e unlikely to pose a signiticant risk. Nevertheless,
systems of financial control are in place which largely separate the I"espon5ibility for
iucurring costs from that for accounting for ¢xp¢nditure and disbursing the Society's
funth.
Finance and Accounts Review
The Society has £1,886,726 (2022 .'£1,748,006) of assets less current liabilities, of
which £61,174 (2022 £6J,728) are tangible fixed assets. The Society has £317,614
(2022: £316,981) of cash balances available at one month's notice or less. The
majority of the cash balances are held in banlc dcposit accounts.
10-

CRS ?0?3
Funds .
The Society has the following funds -
GeFzeral Fund - unrestricted funds held to further the Society's aims. The Trustees
have chosen to desiJ(T ate monies not required for the Society's operating costs to the
Development Fund and the Corris Station Fund.
Tattoo Locomotive Fund - fLmds raised to support the construction and operation of a
ne￿, steam locomotive bv the Corris Tattoo Locomotive Company Ltd.
Developmeni Fund - funds raised towards the application for a Transport & Works
Order, construction costs of the Southern Extension, and other related costs to enable
the re-opening of furth¢T sections of the Corris Railway to passengers.
Carriage Shed Fund - funds raised towards the construction of a new carriage shed to
house the Society's historical and replica rolling stoclc.
Carriage & Waggon Fupzd _ funds raised for Ihe construction of new replica carriages
and waggons.
Friends of the Corris Railway Musez4m Fund (FOCRM) - funds raised to improve the
layouts and fabric of the Museum and acquire relevant artefacts.
Permanent Way Fund - ftmds raised towards the purchase of rail and ancillaries for
extending the running line of the Corris Railway.
FalLon Locon70tive Fund- funds raised to support the construction and operation of a
second new Sieam locomotive by" the Corris Tattoo Locomotive Company Ltd.
O&K Fund- funds raised to support the purchase and adaptation of diesel locomotive
No.11.
Engine Shed Roof Fund- funds raised to replace the life-expired roof of the 1878-
built engine shed at Maespoeth.
Corris Siation Fiind - funds raised to construct a new station on the site of the original
Corris Station.
Machine Shop Fund - funds raised to re-equip the railway's workshop machinery
Trustees Responsibilities
The members of the Society's Management Committee, who served as Trustees
durirjg the year, are listed with the legal and adrnlnistrative details.
The Trustees are responsible for keeping proper accounting records which disclose
with reasonable accuracy at any time the flnancial position of the Society, for
safeguarding the assets of the Society and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.
Patrick Jolley
Acting Chairnian
Corris Railway Society

CRS2U23
Independent Examiners Report to the Trustees of the Corns Railway
Society
I report to the trustees on my examination of the accounts of the Corris Railway
Society for tEie year ended 31 December 2023.
Responsibilities and basis of report
As the charity trustees of the Society you are responsible for the preparation of the
accounts in accordance with the requirements of the Charities Act 2011 ('the Act,).
I report in r¢spect of my examination of the Society's accoiints carricd OLIt under
section 145 of the 201 l Act and in carrying out my examination I have followcd all
the applicable Directions given by the Charity Commission under section 145(5)(b) of
the Act.
Independent examtner's statement
I have completed my examination. I confirm that no material matters have come to
my attention in connection with the exairination giving ine cause to believe that in
any material respect .
accounting records were not kept in respect of the Society as required by
section 130 of the Act; or
the accounts do not accord with those rccords. or
the accounts do not comply with the applicable requirernents concerning the
form and content of accounts set out in the Charities (Accounts and Reports)
Regulations 2008 other than any requirement that the accounts giv¢ a 'true and
fair view, which is not a matter considered as part of an Independent
examÈnation.
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 tlie accounts to be reached.
Nigel Kavanagli Brown
Chartered Accountant
Tideswcll
15th October 2024
12

CRS 2023
Corris RailFYay Society
STATEMENT OF FINANCIAL ACTIVITIES
For the Year Ended
31st December 2023
Unrestricted Designated Restricted
Funds
Funds
Funds
Total 2023
Total 2022
Income and Endowments from .
Subscriptions
Donations & Legacies (including GiftAid)
Charitable Activiiies
Grants
Other Trading Activities
Investments
Other
10,635
69,127
664
269
3,000
705
275
10,6i5
123,843
3,139
269
3,681
4.729
275
10,750
235,494
3,189
1,353
4,275
411
1,126
54,717
2,475
681
4,024
Total
84,675
61,897
146.571
?56,597
Expenditure on
Raising Fimds
Charitable Activities
Depreciation
Other
1.072
2,828
2,554
95
1,581
2,653
2,828
2,554
95
1,417
2,875
2,554
347
Total
6,55Q
1.581
8.131
7,193
Net incorne
78,125
60,316
138,441
949,404
Transfers between ￿ndS
77,125
77,125
Net movement in funds
1,000
77,125
60,316
138,441
249,404
Reeonciliation of funds
Total funds brought forward
6,000
445.484 1,291,015
1,742,499
1,493,095
Total fimds carried fO￿ard
7,000
.5?2,609 1,3f1,731
1.880,940
1,742,499
13-

GRS 2023
Corns RailTrvay Society
BALANCE SHEET
asat
31st December 2023
2023
2022
Fiyed Assets
rangible Fixed Assets
61,174
63.728
Investments
Corris Railway Compan} Ltd
Coryis Tattoo Locomotiiie Co. Ltd
19,660
loo
19,660
100
19.760
19.760
Advanced to AssoelLted C.omp#nles
Corris Roil%iay Company Ltd
Lorris Tattoo Lt>CQTnolive Company Ltd
933,688
555,848
877,845
471,089
1.489.5.77
1.348.935
Current Asscts
Debtors & Prepayinents
Cash at banlc and in hand
21
317,614
.717.6.15
144
316,981
117,1?5
Current Liabilities
Creditors .' amounts falling due in less than one year
1.542
Net Current A$Jtli
31(1 2$5
-315,5%3
Total assets less ¢urrei)I liabilities
1,886,726
1,748,006
Creditors '. amovnis falling due irt rnore than one year
10
5,786
5,507
Net *ssels
1.8gn,9411
1.742,499
Represented by:
Restricl#d Funds-
Tattoo Locomotive Fund
Dei"elopmeiit Fund
Carriage Shed Fund
Carriage & Waggon Fund
Friends of the Corris Railway MuseuTn
166,486
371,14?
145,941
54.625
18,360
164.564
358,114
145,941
49,625
17,431
F- l_l
PeTman¢nt Way Fund
Faleon Locornolive Fund
O&K Fund
Engtne Slied Roof Fwid
Corri5 %tation Fund
Machine Shop Fund
14.674
456.962
24,008
13,812
73,338
11,979
14,674
422,742
24,008
13,812
73.150
6,954
1..151,331
1,2L)1,015
Deyignoiedfzv7d&-
Development Fund
Corris Ststion Fund
12
12
502,609
20,000
425,484
20.000
)22,609
445.484
UnresiriefedFunds-
General Fund
12
7,000
6,000
1.880.940
1,742.499
14-

CRS 2023
Corris Railivay Society
Staternent of Cash Flows
For the Year Ended
31st December 2023
2023
2022
Net cash provided by operating activities (A)
141,235
250.526
Cash tlows from investin
activities
Purchase of Property. plant & equipment
Sums advanced to associated companTes
140,602
93,100
Net cash used In Inv¢5tlng activities (B)
140,602
93,100
Nei decrease in cash & Cash equivalents (A+B)
633
157,426
Cash & cash equivalents at the beginntng of the year
316,981
159,555
Cash & cash equivalents at the end of the year
317,614
316,981
Notes to the eash flow statement
Reconciliation of net movement in funds to net ea$h flow from operating aetivities
2023
2022
Net movement in fi￿d5
138,441
249,404
add depreciation
deduct grant transfe]Ted from deferred in¢orne
Decrease in creditors
Decrease in debtors
Net cash provided by operating actLVIti¢s
2,554
269
386
123
141,235
2,554
1,353
65
144
250,526
15

CRS 2023
Corns Railway Society
Notes to the accounts
For the Year Ended
31st Decejnber 2023
l Accounting Policies
l. l Aecounting eonvention
The accounts have been prepared under the historical cost convention, with items recognised
at cost or transaetion value unless otherwise stated in the relevant notes to these accounts.
The accounts have been prepared in accordance with the Statement of Recommended
Practice - Accounting and Reporting by Charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRSI 02) (effective
l Jlinuary 2015) and the Charities Act 2011.
The accounts are prepared in sterling, which is the functional currency of the Charity. Monetary
amounts in these flliancial statements are rounded to the nearest £.
The charity constitute5 a public benefit eniity as defined by FRS 102.
1.2 Going Concern
At the time of approving the financial Statements, the trustees have a reasonable expectation that
the Charity has adequate Tesources to continue in operational existence for the foreseeable
future. Thus the tNstees continue to adopt the going concern basis of accounting in preparing
the financial staiements.
1.3 Incoming resources
All income is accounted for as soon as the Charity has entitlement to the income and there is
probability of receipt and the amount is quantifiable,
Incorning resources are recognised on a receivable basis and included in the financial statements
gross, i.e.before taking account of any associated expenditure, except wher¢ stated otherwise.
Income has been credited and expenditure ¢harg¢d to the Income & Expenditure account on the
accruals basis.
1.4 Allocation of costs
As the Charity has minimal overhead costs, no allocation of costs has been Made.
1.5 Costs of generating funds
Expenses are included as costs of generating funds if they can be directly related to a source of
the Charity's income or are for publicity intended to raise the profile of the Charity.
16-

CRS 2023
Corris Railway Society
Notes to the accounts
For the Year Ended
31st December 2023
1.6 Charitable Activities
The Charity has idenlified four charitable activittes through which it achieves its charitable
objectives .
1.6.] The production of a quarterly newsletter to keep Society members infornled of its activities
and a journal containing the results of historical research which is free to membeT5 and
available for sale to the public.
1.6.2 The operation of the C.oi'ris Railway Museurn, which is 51affed by volunteers and provides
free entry to the general public,
1.6.3 Physical, financial and administrative support to the Corris Railway Company Ltd and the
Corris Tattoo Locomotive Company Ltd.
1.6.4 Guided tours of the Maespoeth workshops explaining the history of the Corris Railway,
1.7 Governance Costs
Governance costs include costs of administering the charity; as th¢ charity has no employees and
the Independent Examinèr has waived his fees. these are kept to a minirnum.
1.8 Tangible fixed assets and depreciation
Tangible f)xed assets, except freehold land, are stated at Cost or valuation less accumulated
depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less
estimated residual value of each asset over its expected usefLtI life, as follows
Up to and including 2019, depreciation was not charged on buildings, pernianent way and rolling stock.
Following & review, the following policies were adopted in 2020
Land is shown at ¢ost.
Buildings are shown at cost.
Building repairs are depreciated over their expected useful life, as follows
minor repairs at l O %, major repairs at 20/4. both on a strai8ht.line basis.
P¢nManent Way and Rolling Stock are depreciated at l O % on a straight-line basis.
Museum Exhibits, Signs, Tools and Equipment are depreciated at 20Q/o on a scraight line basis.
1.9 Investments
Inv¢stm¢nts are sho￿￿ at cost and represent inveslments in the Society's related
companies through which it undertake5 element5 of its work.
1.10 Pension Costs
The Society has no eEnployees, therefore it has no pension costs.
l.I l Life Members Subscrxptions
Life membets subs¢ription5 are amortised over a l O year period.
17-

CRS 2023
Corris Railivay Society
Notes to the accounts
For the Yexr Ended
31st December 2023
1.12 Restricted Funds
Restricted funds air those received which are earmarked for specific purpos¢ by the donors.
Expenditure which meets the criteria specified is charged directly to the fund.
Restricted funds raised to support projects undertaken by the CO￿]S Railway Company Ltd or
the Corris Tattoo Locomotive Conipany Ltd rnay be us¢d io support grants or loans to those
companies.
1.13 Unrestricted Funds
Funds received or generated for the objects of rhe Society without a further specified purpose
are treated as UnTestricted Funds,. some of these resouTce5 may be designated by the Trustees
for particular purposes as they deein appropriate.
The Trusiees have reviewed the annual running costs of the So¢i¢ty. and decided to
designate £20.000 to the Corris Station Fund and tlie remaining balance of the Unrestricted
Funds towards the Development Fund,
The Trustees estimate the annual running costs of the Society to be £7,000. and this sum
is represented by the General Fund.
1.14 CritiCAI estlmate and judgements and key sources of estimatlOD uncertaintv
In the application of the Charity's accounting policies, the trustees are required to make
judgements, estimates and assumptions about the carrying amount of assets and liabTlities
that are not readily apparent from other sources. The estimates and associated assumptions
are based on historical experience and other fartors that are considered to be relevant. Actual
results niay differ from thcse egtimales. The ¢stimates and underlying assumptions are r¢vi¢wed
on an ongoing basis. Revisions to accounting estiinat¢s ar¢ rccogniscd in thu period in which
the estimate is revised Nvhere the revision affects only that period, or in the period of the revision
and fvture periods where the revision affects both current and future periods.
1.15 Grants Reeeived
As per Nore l O, grants from external bodies are tsken to revenue in equal portions over a
t¢n-ycar period,
18-

CRS 2023
Corris Railway Society
Notes to the accounts
For the Year Ended
31st December 2023
2 Resources expended
DiTect
Expenses
Support
Costs
Depreciaiion
Total 2023
Priniin8 & Stationery
Raffle costs
.617
209
826
1,617
209
100 Club prizes
826
Publicity
Corri$-Pond¢nt and Journal Printing & Dislribution
Mu5¢um building repairs
Acqui8]tirJ￿ Testoration & display ot'histOTieai artefact5
Subscriptions
t£Mal fees
Bank charges
Govemance c05tS
2,828
2,8?8
35
60
60
Depreciation
2,554
2,554
2,888
2,688
Comparative Statement for 2022
Direct
Expenses
Support
Costs
Deprecialion
Total 2022
PTinlin8 & Sislion¢ry
R8JYi¢ cos(s
632
59
59
726
100 Club prizes
Publicity
co￿ls-Pondent and Journal Printing & Digtributlon
MuseuTn building rwjrs
Acquisition of higttsrital artefacts
SubscriptlDns
L¢gal Te¢5
Bank Charges
726
2,87S
2,875
35
272
272
GoveTnanEe costs
40
40
DBpr¢ciat20n
2,554
2,554
2,554
Total resources expended are slated after charging '.
2023
2022
Depreciation (see note 1.8)
Ind¢pendent Examiner's Remuneration
Amounts payable under operatinfj leases
2,554
2,554
Nil
Nil
Nil
19-

CRS 2Q23
Corris RailFsay Society
Notes to the accounts
For the Year Ended
31st December 2023
3 Staff Costs
The Society had no employees during the year or in the preceding year.
4 Trustee Expenses
No Trustees ￿cellIed any remuneration or expenses in the current oi. pitceding year.
5 Corporation Tax
As a registered charity the Corri5 Railivay Society is not subject to corporatton tsx on its wholly
charitable activities.
6 Tangibl¢ Fixed Assets
Freehold Land Rolling Stock Pern)anenl
& Buildings
Way
Museum Exhibits Total
& Signs
Cfjst
At 1st Januwy 2023
Additions
Al 31 sl December 2023
54.653
7,118
9.619
3,685
54,653
7,118
9,(i19
3,685
Depreciation
At Ist January 2023
Additions
Ai 31 st December 2023
2,640
880
2,136
712
2.848
2,886
962
-1.848
3,685
11,-147
2,f 54
1.1,901
3,685
Net book value
At Isi January 2023
At 31si D￿eMber 2023
4,982
4,270
51,133
61.174
7 Investments
2023
2022
Corri$ Railway Company Ltd
Ordinarv Shares fu) cost
Current Account (owed b> company to Society}
19,660
93.1688
95.7.i48
19,660
877,845
897,y05
The investment in th¢ Corris Raili*a)' Company lJimited, which is a majority sharebolding.. is shown al cost.
The balance on current account represents funds advan¢ed 10 the company lo progi'es% the So¢iety'5 objects.
2023
2022
Corrlls Tattoo Locomotive Company Ltd
Ordinary Shares (al cost
Curr¢nt Ac¢ounl (oived b). company to Society)
loo
555,848
555,g48
100
471,089
471.189
The investment in the Corris Tattoo Locomotive Co Ltd (which is i%'holly owned by ihe Society,) is shown ai cost.
The company, s major assets are the new-build Tattoo" class locomotive No.7, the O&K locomotive No.1 I,
and the new,.build "Falcon" Socomotive No.10.
The balance on current account represents funds advanced to the compan}, for the construction of the
Tattoo steam locomotive, raised under the Tattoo Locomotive restricted fund, for the Falcon steam
locomotive. raised under the Falcon Locomotive restricted fund, and the O&K diesel locornotive, raised under
the O&K restricTed fund.
-20-

CRS 2023
Corris Railway Society
Notes to the accounts
For the Year Ended
31st December 2023
CurreDt Assets
DebloT8 '.
Prepayments
2023
2022
21
21
144
144
Cash .'
Deposit Accollnts
CuTrellt Ac¢ount
Tattoo Locomotive Fund
Falcon Locon)olive Fund
Development Fund
FOCRM fuE)d
Corris Station Appeal Fund
MachiJ]¢ Shop Fund
56.581
245
51,207
48,775
136.474
16.898
252
7,183
317654
31,010
100
35,384
100,705
129,591
16,539
1,451
2.201
316,(}81
Creditors . wmounts falling due in le$s than one year
Trade ereditors
Subscriptions in advance
Deferred inoDme
Corris Utd FC. uiilities bond
32
879
269
200
182
890
269
200
1,542
io
C.'reditors . amount5 f#llin% du¢ after more than one yefir
Members, Loans
Life Membership Proi'ision
Def¢rr¢d in¢om¢
5,786
5,238
269
5,507
D¢f¢rred Incomt represents grants received frorn exlernal bodi¢5 H,hi¢h is taken to revenue in equal portions
over a ten-year p¢riod (see Note 1.151,
li
R¢stri¢ted Funds
ThttoD Loco
Fuiid
tkv¢lopm¢nt
Fund
Carriage
Sl*d Futtd
Carriage & WB¥on
Fund
At 1st Junuary 2023
Incoming R¢sovrces
Outgoing R¢sources
Ai 31 st Decernber 2023
164.564
1,922
J58,114
J3,242
209
145,941
49.625
s,ooo
F(KRM
Pund
Penn￿ent Way
Falton Loco
Fund
Fllttd
Ai I gt January 2023
Incoming Resources
Olltgoing Resources
At 31st D￿rnber 2023
?7.431
14,674
422,742
34,76S
545
450.962
24,QO8
826
24.(Kl8
Engine Sli¢d Roof
FiThd
Coms Stlltio
Fiind
Machine Sliop
Fiind
Totai
At lyt Jttnuarv 2023
Incoming Resources
Outgoiiig Resources
At 31st Dccember 2023
73.150
188
6.954
5.025
1,898
Delails ofeochfurLdcan befoundon shff followingpage.
21

CRS 2023
Corris Railway Society
r4otes to the accounts
For the Year End¢d
31st December 21]23
Re5tricttd Fllnd8 leontiniied)
Tai¢oD Locomotiv8 FuKd - funds Taised to support the construciion and operation of t new steam IocoJn￿Iir by the
Corris Tattoo Ltcoillotive Compaw Ltd.
Dare/oprteBI Fupd- fLinds raised Towards the application for a Transport & li'orks Ord¢r and related Costs to enable
the re-opening ol'furth¢r seciions of the Corris Railwas. to passeiigers, including the Southem Extcnsion
Pont-y-Goedwfjg deviation works,
Carriage ShedFurtd- fvnds taised tOWaTds tlie construction of a new carriage shed 10 howse the Society's hisiori¢al
and repliett rolliiig siock
Carriage &. H¢Jggon FuMd- funds raised for the construction of new, replica ¢artiage5 and lwdggons,
FriÉryds ofihe Corris Railivay,Vtssetwi Fund (FOCRIVf) - funds raised to impTQVC 11)e layou1$ and fabTlC of the
Museuin and aequire relevant art¢facts.
PerTraneni Iyay huKd. funds raised toMErds the Pit￿haS£ ot rail and aneillaries for ¢xt¢ndJns th¢ running line of the
CorTiS Railiiay.
Falcon Locomoiii* FuKd - fmnds raised ID support the consiruetton and opcration of & second new ste￿￿ locomotive
by tli¢ Corris Tattoo Locon7otive Compaiiy Ltd.
O&KFFakd- funds raised to 5UPPOrt the PUTch#se and adapiation of d1¢5¢1 locomotii'e ND.) I.
Engine ShedRoof - funds raised to r¢plac¢ the life-expired roof of (he 1878.built engine shed at Maespoeth.
CopTl$ s￿110￿ Fynd - fund5 Taised to Con￿luct a new station on the site of the original CoTris Station.
Ma¢hipJeShop - funds raised to re<quip ttie TaIlwals￿OrkshOP mochinery.
Gtntral
Fund
12
linrestritttd Funds
At 1st January 2023
Incoming Resources
Out8oin8 Resources
At 3 l$t D¢¢ember 2023
451,484
84.675
$99.(>09
De$i8lLllted fi uDds
The Trustees have reviewed Ilie SocieW5 Reserves Policy, and resolved to retain the equivalent ot'one yeae$ operating ¢0sts in the Getteral
Fund, lo designate £20,000 lo the Corri5 Stdtion Fund. and to designate tl)e b21ance ol. th¢ Unrestricted Funds towErd5 the Developrnent Fund.
The Trusteos e$tirnate one year's operating costs to be £7,000 and have Iheretore designai¢d £502.609 ¢0 tl)e Development Furtd.
Allalys5s ofnci #88ets b¢tsveen funds
13
Tangibl2 Fixed
Assets
Long.Term
Creditors
Assceiated
Companies
I cl Current
Assets
InvestTnents
Total
ReStriciedFu￿d$.-
Tattoo Locornotiv¢ Fund
Developmeni Furjd
Carri4oe Shed Furtd
ca￿lage & Waggoii Fund
Friends of the Coryis Railw&y Museuin
Pennaneni Way Fund
Falcon t/Jcomotiv¢ Fund
O&K Fund
EngiThe Shed Roof Fund
Corris St￿10￿ Fulld
Macliine Shop Fund
Dt$2gnoted& Iipiresrri¢iEd Funds..
General Fund
IOD
113,257
239,673
145.941
49,625
53.129
131.474
166,48(?
371,147
145.941
5,000
18,360
18..160
14.074
456,967
24,0118
14.674
408.1 $7
24,W8
48.775
13.812
252
7.183
75,086
4,796
73,338
11.979
61,174
61,174
19,660
416,289
1489 i37
38
-116.?5
i29.609
14
ComMit￿t￿t Opergting LtgS¢$
The Society hès no operating l¢as¢S.
15
RelRted party trAllSfiltions
Th¢re no Irdnsactions witli related partTC3 during the ￿ear, other than translers betw'¢en the Society knd
the Coryis Railway Company Ltd and the CoTris Tattoo Locomotive Coinpanv l.td
22-

P4 000
C>

Z f& ro
r4

CRS 2023
Corris Railway Society
Notes to the Accounts
For the Year Ended
31st December 2023
17
Compthrxtive Stattment of Financial .4etivitie5
Unrestricted
Funds
Designated
Fw)ds
R¢stric(¢d
Funds
2022
Income Endoivments from .
Subscription5
Donations & 1£8acies lincludit)g GifL4idl
Chariiable Activities
Gr&nts
Other Trading Aetivities
Investmellts
Orher
10,750
54.006
1202
1,333
3,000
69
1,126
10.750
235.494
3.189
1,353
4275
411
1,126
181.488
1,987
1,275
342
Tolai
71.506
18&.092
256.598
Expendlture OD .
Rai5108 Funds
ChaTltabl¢ A¢liviries
D¢pr¢ciats'on
Other
632
2,875
2,554
307
786
1,418
2,873
2,554
347
40
Total
6,368
826
7.1¥4
Net incon)e
65,138
184,267
249.404
TransfeTS bctWBen funds
64.137
64,137
Net movement in ￿ndS
1,001
64,137
184,267
249,404
ReeoAeiliAtion of fund$
Tolai funds broughi forward
5,000
381,347
1.106,748
,493,095
Total fimd$ Cayried fonvard
44.S.484
1.291,015
1.742 41)9
-25-