CALEDONIAN RAILWAY
828
TRUST
Scottisb Cbaritv Number SCIM14741
AI¥NUAL REPORT
2025
OSCR
Scottish Charity Regulator
www.oscr.org.uk
SC004741

CALEDONIAN RAILWAY 828 TRUST
(Scottish Charity Nu￿be[ SC004741)
TRUSTEES, AIYNUAL REPORT AND ACCOUNfs FOR THE YEAR ENDED
31 DECEMBER 2025
CHARITY INFORMATION
Trustees
The Trust￿ who served duTing the year were:
J Spy (Chairman)
N Girvan (s￿r¢tary and Treasurer)
A Cornwell
C Cornwell
M Dunca
K Grieve
H Macleod
D Scott
G Todd
Tn￿te¢S d
rin
David McNicoll- appointed 16109f25
ntactAddTess
Nornan J H Gir¥*￿ 13 Whitehill Avenu4 STEPPS. Glasgow. G33 6BL
Inde
endent Examin
Mr Peter Reilly. I I Whttehill Avenue. STEPPS. Glasgow. G33 6BL
TRUSTEES REPOKT
The Trustees are pleased to present their report for the year end￿ 31 De¢¢miKr 2025.
Recrlliknient
intment ofT￿ste¢S
All ttustees are appointed or reapw)inted by the members at the A[￿Ual General Meeting of the charity
usually held in MarchlApril each y¢ar.
Governin
Documen
Tb¢ Caledonian Railway 828 Trusi referred hereafter as the is a Ch￿lt0b1e tsvsL and the purposes alld
administration arrangements are contained in the Constitution dated 27 November 1965 (with lat¢r
amendm¢nts). Th¢ Trust is regulated by the Scottish C]Jarity Regulator (OSCR).
Th¢ Tn￿ is independent and has no connection with any other iM)dy.

CALEDONLIN RAtLWAY 828 TRUST
(Scottish Charity Number SC004741)
TRUSTEES. ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED
31 DECEMBER 2025
ble Pu
The purwses of the TrnsL ￿ set out in th¢ Constitution. are to act as legal owner of Caledonian Railway
Locomotive No. 828. and any other steam locomotive acquired, for public exhibition and ffstoration to
working ord¢r and use in service for public benefrt and education. All mollics fdised and remaining after
expenses shall be for locomotive restoration and to help fimd any major repairs after restorntion.
Activities and Achiev
A r¢qEtest from the Spa Valley Railway for the continued hire of CR828 for 2025 was agreed by the trustees.
This faeilitated the safe and dry stordge of the lo¢omotive during the wintsr months and ¢nabled maintenance
to be und¢rtaken to a known high standard. As with any lo¢omotive used on service trains, especially with
one which is now 126 Yea￿ 01￿ there will be some considernble wear. Accordingly, during the running
season and winter lay-off a high standard of maintenanc¢ was undutaken by the volunteers of the Spa Valley.
The locomotiv¢ had SI￿ered from escaping steam from the valve spilldles" parts were obtsined to fit new
glands. The locomotive is well liked by the volunteers. and rostered crews benefItted from improved
visibility. Wear had becn ¢xwienced in one of the steam injectors. a voluntccr llwiufactured a new one
froTll a piece of solid brdss thus ensuring that old skills were mainlAined and passed on to assistants. The
locomotive has been kept in a very cl¢an condition by the volunteers and crews. thÉs ts appreciated by the
general public when visiting the railway. This work included painting of the cab inside roof and replacement
ab fli)or boards being fitted. Spa Valley publicity, posted on FacelM)oK included photographs of the work
undertaken thus allowing a wider audienc¢ to ￿ this very tKTrpular locomotive. The publicity, together with
v¢ry positive Faceb(xyk comment4 has in turn encournged more people to visit the rnilway. The aim of the
Trust is to continue to keep the locomotive in opeTational condition. in order that kt can be enjoy&J by the
public and volw]teers whilst enhancing engineering skills and ¢ducation.
Although the Tn&st has bccn ablc to claim Gift Aid on donations for 5evcral Ye￿5. it was realised that other
sources of income would be requirryj to fund the next major overhaul. One of thc trustees r¢search¢d
tnethods of online giving where gift aid Can be claimed. The trnstees to this recommendation.
AccordiDgly an online giving pag¢ was ¢rtat￿ outlining the story of 828 8nd th¢ reasons for fundraising. A
trial was undertaken which was Suc￿sSfUl.
At th¢ Annual General Meeting it w&s agreed that a new trust¢e should be aptK)inted and preferably of a
younger age profile. After due consideration. the trustees agreed to apFKiint David McNi¢oll. David was
formally appointed on 16 September 2025. In line with th¢ Clwities (Regulation and Administration)
(Scotland) Act 2023. personal details of all tn]stees have iKen uploadal to OSCR.
rve5 and Polic
tee Remuneration and Ex
N Girvan rec¢iv¢d r¢-reimbuT5ement of payment made for the independ¢nt examinerfs honorar&um and AGM
expenses.

CALEDONtAIY RAILWAY 828 TRUST
(Scottish Clwity Number SC004741)
TRUSTEES, A1￿uAL REPORT AND ACCOUNTS FOR THE YEAR ENDED
31 DECEMBER 2025
The Trust holds unrestricted fuDds which are used to partI￿]Y fiTnd major items of expenditure on the
locomotive repairs. This fimding and other wtentkal items of ¢xpenditurc are discussed and agreed by all the
Tn￿te¢s.
The Ttvst held UTwestricted funds of £152257 at 31 December 2025.
Thc Trustees declare that they have approved the Tn&ees'Annual Re￿rt aFM)ve.
ed on behalf of the T
James Spy
(Cbairman)
Date..

CALEDONIAN RAILWAY 828 TRUST
(Scottish Charity Number SC004741)
TRUSTEES. ANNUAL REPORT AND ACCOUNTS FOR THI YEAR ENDED
31 DECEMBER 2025
RECEIFYS AND PAYMENfs AccouNf FOR THE YEAR ENDED 31 DECEMBER 2025
RECEIprs
Total Funds 2025
Total Funds 2024
Spa Vall¢y l)ire fees
Donations
£25,6(K)
£35,000
£420
£160
GiftAid (l)
Royalties
£217
£2,000
Totsl Re¢eEpts
£26237
£37,160
PAYMENrs
ment
haritable activiti
Total Payments for Charitable Purposes
overnance Costs:
Subscription (HRA)
£220
Independent Examiner (2) £ 22
AGM expenses (2)
£23
£212
£27
Total Governance Costs
£265
£239
Total Payments
39
Eicess Receipts over
Payment$
£25972
£3Q920
All funds are unrestricted.

CALEDONIAN RAILWAY 828 TRUST
(Se4)ttish Charity Nurnber SC004741)
TRUSTEES, ANNUAL REPORT AIYD AccouNfs FOR THE YEAR ENDED
31 DECEMBER 2025
STATEMEiYf OF BALANCES as at 31 December 2025
2025
2024
Bank Balance
Bank balance BIF
Movements in year:
Excess of Receipts over Payments
126,284
89,364
25.972
36,920
Bank balance CIF
152256
126.284
Asset
Caledonian Railway Lowmotivc No 828 at cost
1,004
Notes:
l Gift Aid - fro￿ individual donations £145. from JusiGiving £72
2 Trustee remuneration and reimbursement of expenses and Relafrd Paty Transactions:_
N Girvan w&8 reimbursed for external e￿￿Miner'S honorarium of £22 and AGM expenses of £23.
No trustee or person related to a had any personal itrterest in any contract or transaction
¢ntered into by the charity, during the yeaT.
Approved by the Tntstees and signed on their behalf:
James Spy (Chairnian)
Date".

CALEDOI4IAN RAILWAY 828 TRUST
(Scottish Charity Number SC004741)
TRUSTEES, ANNUAL REPORT AM) Accouwfs FOR THE YEAR ENDED
31 DECEMBER 2025
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE
CALEDOMAN RAILWAY 828 TRUST
I Teport on the fir￿ncIal statements of the cl)arity for the year ended 31 December 2025. which is set
out on pages 5 and 6.
Res
ctive Res
nsibilities of TnLStees and Examiner
The charity's tnlstees are responsible for the preparation of the accounts in accordance with the
ternis of the Charities and Tnths Investment (Sc4)tland} A¢t 2005 ('%he 2005 Act") and the
Charities Accounts (Scotland) Regulations 2(X)6 (&s amended} C'the 2006 RegulatioDS'). The
charity's trustees coLsider that the audit requirement of Regulation 10(I)(d) of the 2006 Regulations
do not apply. It is my restK)nsibility to examine the accounts as Tequired under section (44)(1)(c} of
the 2005 Act and so state Wheth￿ particular matters have come to my attention.
Basis of Ind
dent Ex2rnineEs Staternent
My exaMI￿tion is carried out in accordance with Regulation 11 of the 2006 Regulations.
examination includes a review of the accounting records kept by the chaTÉty and a compaTiSon of tbe
accounts presented wÈth those records. It also includes ￿nsideratIon of any un￿sUal items or
disclosutes in the accounts and s¢¢ks explanations from the 1￿￿teeS concerning any such matteTS.
The procedures Unde￿ell do not provide all the evidence that would k required in an audit an
consequently, I do not express an audit opinion on the view given by the accounts.
evs Statement
In connection with my examinatio￿ no matter h&s com¢ to my attention:_
. which gives me reasonable cause to IK]i¢v¢ thaL in any material respecL the requirements:.
- to keep accounttng records in accordancc with Section 44IIXa) of the 2005 Act and
Regulation 4 of the 2006 Regulations, and
- to prepare accounts which accord with the accounting records and Comply witb Regulation 9 of
th¢ 2006 Regulations have not been meL or
2. to which in my Opinio￿ attention should be drnwn in order to enable a proper understanding of
the accounts to reached.
External Examiner.
Date:
Mr Peter Reilty
11 Ivhitehill Avenue. STEPPS. Gl&8gow G33 6BL