CALEDONIAN
RAILWAY
ASSOCIATION
(Charity Registered in Scotland No. SC014554)
ANNUAL ACCOUNTS AND
TRUSTEES, REPORT 2024

0￿ECTI11Es, ACTl￿.1T[Es.4ND ACHIFI."EIIENI'S
Thc A5socialicin shall
promiltc th¢ study. acquisition and p￿sc￿'allOn of inforniation. documcnts.
illuslralion5 and artclaeis relating to the C.-alcdonian Railway. and its constiluenl and
ULL¢%%()r ¢c)Mp￿}L￿.
facili".alc and co-ordinate rcsearch bv membcrs into ihc hisiory of the Railway.
{iii) fosicr the LY)Ilalii)n and disscminalion ofinf()riniili()n mdlLridl su c)biaiiiLd.
{iv}
assist ()IhLT prii'dlc. public dnd profcssional organisalions which haN'c aims and
inlcrcsls Similar to ihose of the Association.
V4'c ran a full programme ol. wintLY meclin&s in 21124 and hawc ￿)ntinUl%I the hybrid fomai.
Thc recordin&5 of Ihc ￿'(bInar% and hybrid mcctings arc madL' a%'ailable online to members,
building) d grcat arihii'¢ lif CalLdonian rLlaicd lopics_ Thc full list and links Ic) IhL' rLL()rding
arc in Ihc A￿￿7claI1￿n RcsoufLeS 14"ithin Ihc Rcgiislcrcd Mfflih¢r* %eLlinn ()I' IhL I'orum onlinc.
'c did nol Tncct in OLI()bLY instead partiLipatingi in th¢ Siollish RdilH'a)' Hislory Confcrcnce
in PL'rth, hL.Id dll CXPLdiliun l() IhL Pccblcs linc. Our ¢xhibilion sland also allcndcd aur
usual shows in CJlaSgo￿-. Pcrth and Falkirk in 2024.
Our quarterlj maga/inc ""Thc "I ruc Linc covcred a ￿'Ide rdngc of lopics from hislciriLal
artlLlc8 through io current updalcs on ihc rL'maining Caledonian RaIl￿.a). infraslruLlure.
Wc continue to ivork together w'ith lh¢ oihLT SLOllish rdIl￿.aY 50ciclics through The Forum of
SLc)Ilish Line Sociclies M hiih aiTns l() cnLouiagTe further co-opcralion amonb?si ihL' SoLielie%
as WLII as co-ordinaling. joint aclil-ities including the Railway I listnry. C()nlLrenLL. sharin
stands al Lxhibilii)ns and building a SLI)Iland-M ide Fail￿"aY pholographiL archii'c. Thc online
ph()li)gwrdphiL arLhi¥'L whilh was launLhLYl in May ?020 and currently L()ntains ()vcr f)l.11(X)
ImablLS. Including oi'er 25.100 frorn ihc %RM Lolleclions and ovcr 111.1011 from the
Association s archive of c.30.0(K) or rnorL ima¥L￿. ACCL￿5 tc) IhL ￿ChI¥.¢ 15 availablL. frcL of
charge. to all members ol" thc Ass()LiatioD by rL4uesl lo w"ebmastcrQtt.crassoc.org.uk.
Truc LinL Models range eKpanded io inilude our first 7mm sLalc ￿a&J()n as WLII 4LS our first
ID printed model - a horse b()x ai'ailablc in b()Ih 4mm and 7mm all of which hai'¢ sold wcll.
AftLY publishing tw'o major works ourseltres last year and SUPTK)rting two c)Ihcr Cdledonian
rclaial tiilcs by purchasin&i copics to SL'II thri)ugh Ihc Aswcialion have hdd a quicter ycar
on the publications fr()nl in 11,4 i4'.Ili iubl ITrllL IiilL Iii association ￿'1[h thL North British
Rdilw'<tys Siudy Gri)up
Iliree CJeneraliopi.f OH ,%( iJilund'.f
Railii"ai'. All of i)ur publ.
..)aJi ()f CR Companj. docutnL'nls in
searchable
pdl.
fc)mial
pur¥hascd
throubh
our
'cbsitc
al
W￿,￿,.cras￿QL.0r￿.Ukl WLb.'%hc)p along M'iih Truc Linc Modcls and the scarchablc cl¢clri)niL
archivc of I"hL."I ruc Linc magyaA.inc.
We carry on our scarch lor ilcms lo cnhancc c)ur Archii'e. kindly supw)rted by thc work of
Glasgi)w Uniw¢Y5ily ArLhiNL SeTh'iLCS who hosi Ihc arLhike al their Thu￿) s[rL￿.1 prcmiscs
hLrc it is normally ai'ailablc lo bc Vic￿.Cd b!, MC￿￿L'r$ and Ihc i¥idcr puhliL. 411 new
documcnis V¥ere accessioned this veaT including) an LXLCPtiunal collL'Llion of l? origiinal
SL(illi5h Central Railway draw'ingys i)f its bridbiL￿ and slruLiurcs. conlinuc to rL'LcivL and
rL%p(?nd Ii? a th'idc rdnge lif qucrics from MCMI￿rS and non-mcrnbers.

l-hc Association rclics on N'olunt¢crs for all of its ￿'ork and 15 grat¢ful for all thosc w,ho gave
of their lime lo support our aaik'ities ihroughoul the year.
Full dctails of our curr¢nl aciii'ilics &$ w'ell as more infomation about the Caledonian
Railway are available ai our websi1¢ wMM.crgssoc.orR.uk.
GON'ERNANCF.
The Caledonian Railway ,15sociation is an unincorporalcd association govffli¢d undtx its
Constiiution. A nLw' constitution was adupicd (Il c)ur AGII on 20 March !0? l.
Thc affairs of the As￿)ctation are managed bj a CommitlLY LC)nsisiing of membepi eleLt¢d at
IhL Annual GenLral Meeling* eaLh yLar which is supp()rtcd by A%sc)Lialcs who undcrtakc
%PCLifiL task% l() help ￿'Ith thL running of the AS%CILiaiion &$ requircd. and allend the
C'(IinmillLL IIILLlingbS lo rewn on their actii.'illL￿. This vear ￿'C are delighted to wel(x)me
a new, Associate in the rolc of Pholo Archivisl.
lknc TruslcLS of the AsSOLi4ilic)n for 2024. all of whom scrvcd throughoui the year unless
indicalLd bcl()¥h', wcrL ihe f()Ilowing OtTiccrs'.
'as co-opted as McmbLYship Sccrelary, during the year and his apwinlment
Ill bL iuiiliniiLIJ at Ihc MarLh ?U?5 AGM.

-II%A.NCI.41. RTr"N'ITr"W AND RESLRI'ES POLICY
Whilst members'hip sub5Lriplions arL' fixLxI al thc le%'el M,hich sUP￿)rtS the cost ol" pr(KIuLing,
printing and dislribuling thL AS￿)elal10n s quartLYls' journal. Thc TNC l.ine. funds arc rais(xl
Ihroubh donations l￿d rLyrinl&'CDs of s¢'leLied arLhive malerial to contribulc lo oihcr
General Expcnscs.
As nUIL￿ dbovc the ASSULiation rclics on %'olunleers io undertdke it5 main aLtivilies and is
grdtLful io thc Cil&s¥ciw unl￿.cr￿7lY Archi￿.c5 SLn'lLL fc)r hcilding our Archivc of w'ritlen
matcriiil and ph()lobraphs rclalingi io th¢ Calolonian RailMa}'. Other costs of rnnning the
A%soLialion. includingF any annual d¢fi¢ils are mct Irum GL￿eral RL%Ln'L%.
A% thL' Assi)Liation doL'S noi ha%'L an), significant long'_tenn financial commitmcnls there is no
nL¢d IL) mdiniain a dL￿1¢allY1 rL%LrN'¢" lo address SULh LxpcllsL￿. ThL TrusleL'5 beIlL￿'e Ihal Ihe
rl%soLidliDn should hc)Id ai ILas1 onL N'cdr % running Los15 {cxLluding publiLalions ￿'hICh arc
Ll)wLrLd by ihc SpL¢ial PruJL¢ls Fund) In ihu GLnLfdl RLSLThL% lo prL)%'idL timL' to addrL%S any
Slbyniticani downlum In inLomc. At 31 DLccmbcr ?074 the Gcncral Rcscrvc tolals £16,122
i?0?3 £19,IK)31 th,hich rcprescnis running cosis for approxirnately 13 months.
-llJc -'Spccial Projcd F und" is a DCSignalL￿ ALLC)uni io bc u%cd for projccls of lasting valuc.
Thc fund is built up from w'indf811 donations. 1WuL￿15. tax rcpaymenis under Gift Aid.
iniLresi reLLived on tunds. and the nel pr()Leeds fri)m our prog¥rammc ()f publiLalii)n5 i)ur
'I'rue LITEL Xq()dLls rangc. l-hL SpcLial ProJcLts l- und M'ill conlinuc lo bc uscd lo undcrwritc Ihc
costs of further publications and models to further ihc Associalion s aims.
"lthis R￿rV￿ Policy will bc. rcN"icw'cd annually.
ApprO￿¢d bj" th¢ "I'rustee5 on 29 tlu%Mst 2025
nd $i2ned nn their hehNlf h%".

RECEivfs AND PAI'NIENTS ,ICLOL%T
FOR TFIE YEAR ENDED 31 DECE11BER 2024
2024
2023
RÈC'EIPTS
Sub%crLplion
DonaLion% rec'd with Sub5.
Gcncral l)onaiion
"l ￿ Repavmeni on Gift Aid
Ilank Interesi Buildlng Sociely
Bank Inieresi Noiice Accounl
10.496
2.5?fi
1?7
4.880
2113
1.263
133
1.546
12
Sales..
Reprini.F. oihvrs
Clh-Trne Line Arc hii'e,'DraM'ing5
Puhlicoiions
Trne Lin* Mode15
1.715
415
3.320
.165
416
9.595
6.615
Salc of phoLogrdphs
Gr05s Receipts
26.2811
2S81
PA k'.VE..%'TS
Tl l. Printing
Tl'l P()%1 & Pa¢king
Tl'l. OihL T5
6.933
4.949
6.366
3.884
15
11.897
1026
Cosl ofsales..
Reprinl.F. Oiher_¥
CD¥-Trutr 14ine Arc.hii'v/l)rtsM'ing.f
PuhliL'allCPPI.S
Trye Lijryv Mfpdvl_F
563
?.414
912
9.929
1,008
4.444
Donation¥ io CR419
Donaljvns lo C"R8?8
ArLhive PurLh&%e
Arihii'¢ Con_%¢Traiiot)
MLmbeT%hip I""xpenies
GLneral I""xwn%es
A(JM I".Ipen%Ls
Exhib)Iion F.￿￿n.￿¢S
Room Ilire for Mectings
SLOtiish l.ine Sociciies..
3L'oiti.ih RciilK'di' Ilision. Conferi'nce
Juini Phoio Archiii. Projeci
CiJrtirih#iiopLsfrom Oiher Socii)iies
650
485
3fi
607
459
798
45
77
91
Il591
437
507
43
Transaction Charges..
Pui'Pal
SumLi
99
43
145
50
14?
195
In4urancc
Gro.%.F Paj'ments
20.708
26247
N*.TSI,RPLI.'S/(Dk.'FIC"ITJ *"OR TIIF Trfr..4R
S,472
(436)

STATENlb'N I. OF B,11...INC."Tr.S
AS AT 31 DECEMBLK 2024
2024
2023
Cash F'und5
C'a4h ai bank and in hal￿ al slan of year
NCL surpluttyidcfiiiil for ihe YL
53.613
5.572
54.049
(4361
59.185
Kepre%eni¢d bi..
35-dd)' Nlilicc l)cwk4il .4ccount
uildin¥ .Irc()unl
ank ("urrLnl AiLI. Baldncc
Aic()uni Nc)
ale% Sland l.loob.Pa￿.Pal 14alan¢c
411.144
38,881
11,761
1.909
93
969
1.793
59.185
53.613
ihcr
ArLhii'L% PurLhaYd ICurnulaiLb'el
Ciifi Aid Tax R¢livr
32.031
50
34.931
34.281
I"C)"I"AI_ A%%E"I
94.11fi
%PE"L-IAI. VKOJTr.'C"I" AC-CULN"r
1th15 Is a sub-￿1 of the AccounLS and 1$ a De4ignaied Accounil
2fi24
2023
()pen5ng B*l#t)et
IkJnaiii)n% rer'd with Subli.
(J<D¢ral D()naiions
"I'LX rLpa>Th¢mi-CJifi Aid
Inierc%i Reiei%'ed
68.891
66.491
300
186
4.R80
07
9.079
2J68
rchii'e PurLha%es
Archii'c Lxpcn4cs
Ih5UI
14851
Ini()nie
L.xpendLiure
J.320
9J95
9.929
906
(334)
lrtv(?m¢
I""xrindLlur¢
1.165
lJ73
253
365
et movtmeni irt iht )'ur
ClosinR Balance
liepresenied bi:
Arihi¥LS Puriha%ed ICumula(ii'e)
L'ash l.und
9.103
2.4
68,891
32.fi81
32.031
36.8
77.994
68.891
klpproved bv the Trustees on 29 Au2ust 2025, and si%ned on their beh8lf b!.:

NOTES TO TIIE ACCOLNTS
l. A Idr¥c number of Members add donations lo their subscriptions, and c.800/0 of Members
hav¢ Sibpned Gift Aid declarations. Thc Gift Aid Llaims for 2023 and 2024 will bc
claimcd in lh¢ ?0?5 Financial Year. Thc Gift Aid r¢ceived as cash in 2024 includcs oatLh
up f()r
¢arli¢T yLdrs.
2. Pri)Lceds of our publications "CR 419"" are donated lo thc Scoltish Railway Preservation
SoLILly whiLh ow'ns and maintains Ihc IoLI)moliN'e. A d()nati()n of £50 will be made in
carly 2025 for ?024 sales.
3. ProLeeds of Ihe salc of our publication '"Calcy 82%" arc dunalcd lo Ihe Calcd()nian
Railway 1428 -1.rust which owns and maintains Ihc loci)molivc. Th¢rc were no sales of the
Ix)()k in 2024 and accordingyly no donation has bccn miidc.
4. 411 nLw doLumLn15 II'Lre aLLCSS11)ncd Ihi4 yLiir includinb> a collcLli()n of 12 Driainal
SL()Itish Ccnlral Railway draM'ingbS of ils bridgiL's and struLlurLS. Archii'c conscTh'ali()n
rL.lalL' l() IhL' pur¢hdsL' i)I' a high spccd %cannL'r f()r us¢ in digtriti%inLi our phi)logir(Iphi
arLhivcs.
5. GcnLral expenses includc £175 paid to purchasc addilic)nal wcb 41()ragFc SPilLC l()r th
'xILndinbJ WLb%ilL and f<)Thm, 2023 includLTrd £604 paid for hosling) of i)ur wcbsito f()r
thr￿￿. yLar% Iii Summ¢r ?076.
6. C()%1% includL Ih()%c ass()cialcd with jc)inl acliN'ilies wilh othcr Scnllish l.inc SnLidtic
inLludin& IhL pr()JLxI t() rLLcird lind Laial()glUC dll i)f IhL SL()Itish imabiL'% hLld hy ihL
Ndli()nul Railway Mu%cum and sharcd aiiLndanLC al cxhibitions. Agr¢￿nn￿nI ha% ixLn
r¥aLhLxl i() sharL' Pdsl iind fulurc L()sls amc?nb>sl th¢ SLi>llish linc s()Liclics.
'hL' nL.I ¢(J%l
rLprL%Lnls IhL A%s()cialii)n % Sharc ()l- ¢ci%t% plus liming dillirLnLCS bL.1￿.CCn inLurrinb
LXPLllsL% and rLlunds Ir()m c)Ihcr SoLiLIiL%. ?1124 al%() inLlud¢s thL atlLndanLL ILLS flir,
and Ll)sls of running,, IhL. Scollish Rdilw'ay Hisli)ry C"()nfL'fLncc in O¢l()bLr. Flnal
ballinces for thc confcrcncc will bc sharcd across all fivc sociclics.
7. Admini%lralii)n fcL's rai%c(I by PayPal (i)nlinc 4alc5) and Sumup (card puymcnls at
shi)ws) in rcspccl of Ihcir clcLironi¢ payment scrvicc5.
8. In%uranLC is mainlaincd for our mcclingis and altcndancc al show5.
9. ArLhivLS of IhL CRA arc 5h()wn al cosi of aLquisilion sinLL ?O(l? t)()n(IIL.d ilL'm% arL not
YIVLn a valuatton. Thc CRA archiv¢s arL hcld wilh (ilasgiow lJnivL'r5ily BU%1￿￿5
ArLhivL C'cnlrL.
I l). Nn valualic)n has bL'cn placcd in Ihc Accounts on salc% stC)Lk or publiLalion5.
I l. Truslccs arc rcimbur5cd out c)f p(i¢k¢t LXPLnscs rclalin&i to thcir work for Ihc A%sociati()n
on Ihc 5amc hasis as all (Iihcr N'c)luntLLrs dnd rLXL'ii'LryJ no rcmuncratic)n fc)r IhLif SLrviccs
during thc ycar. Expcns¢5 r¢fundLxl Ii) thL TThslces in Ihc ycar lotdlled £1.528 {2013
£2,1.17) hcing? rcfund5 of As%ncialic)n Losls iniliall). paid dirccily by Ihem - pi)slagyLS and
prinling Losls, stalioncry cti. or Iriiv¢I and dLLommodalion cosl%.

1*4Dfr"PTr".NI)Tr:J"I" EXA.%IIJ ER'S RTr-P()RT 10 THE TRLSTEF.S OTr- THTr.
CALTr"DONIAN RAII.WAY ASSOCI.4TIO
I rctK)rt on thc accounts ol Ihc charily for the ycar cndcd 31 Dcccmbcr ?U?4 which arc sct
out on thc pagycs 4 to 6.
Respective responsibilities of trustees and examiner
'I'hL Lhdnly'% IruslLL% Jrc rL%Pi)nsiblL for ihe prLpdralii)n of the accounts in aLcordanLC Wlth
IhL tLYms (?f thL ChariliL% und Tru%lLt' InN'Lstmcnl {SLI)Iland) ALI 2005 and ihL Charitie%
Accounts I S¥oiland) Rcb¥ulaiion5 ?(K)6.
Thc Chari1￿ Iruslccs ¢onsid¢r Ihgt the audil
rLquifLmeni ol. RLg'ulaiion 10( I ) (d) Lbf Ihe ALLounis RLg'uldiiL)ns dol￿ not apply. li 14 my
rLspiin%ibililS Ic) Lxamin¥ ihL' dLL4yunt% a% rwuirL'd undLf %LLli(In 44{1) IL) ()I' IhL ALI dnd til
Slaic whcthcr particular maitcrs hai'c Comc to my aitcntion.
Basis of indcpcndcnl cx4min¢r's Statcmcnt
LxJrninaiii)n 1% LJrriL.d i)ut in dLL()rdanLL' Wlth Rcgulatiun I I cjf IhL ChdritlL5 ALLL)unts
(sL()tl(￿d) RLguliiliuns 2(K)6. An L'xamin&iliun inLludLs a rLvIL"￿' vf IhL acu)unling r¥Lords
kLpl bv Ihc Lhanlv and a ci)mpari￿)n of Ihc accounts prcscnlcd ￿'1th Ihos¢ rccords. li also
inLludcs considcration of any unusual ilcms or di%LI()%urcs in Ihc aLL<)uni% and sc¢k
Lxpldndliiins Iri)In IhL Iru%lLY• ciinLLrninb> dlly 4ULh m4illLP*. 'I'hL Pn)LL￿UrL4 undLrtdkLli dii
ni)I pri)vidL all Ihc c¥'id¢nLL' Ihal wi)uld b¢ rLNuird in an audit. and Ll7nscqu¢nily I d17 not
Lxpfcss ￿ audil opinion on the dL¢ounls.
Indepcndent examiner's statement
In thL LoursL' of my cxamination no mallLY has comc lo my atlcnlion:
which ML. fL'a51)niiblL' LausL to ￿.11¥V¢. Ihial in any malcyial r¥spL'LI thc
rLyuifLmLnls'.
li) kLLI) aLLiiunling rLL'()rds in aLcordanLL Wlth ScLlion 44(1) (a) of Ihc 2005
ALI and Rcgulaliiin 4 lif IhL 21MK> ALLxiunl% RLgulali()n% lind
t() prLp(Ire aLc()unls H'hiLh acL(ird wilh thL' ilLLI)uniing rL￿1)r￿S dnd i(Imply
'iih RLgulalion g of th¢ 2006 ALcounls Rcg?ulalions
havc not hcL"n mct. or
2. 1() which. in my (Ipini()n. atlcnli(In shc?uld hc driiwn in ()rdcr Ici LmahlL a pr(?PLY