Company Registration No. 1876790 (England and Wales)
RAILWAY HERITAGE TRUST
(A COMPANY LIMITED BY GUARANTEE)
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
PAGES FOR FILING WITH REGISTRAR
RAILWAY HERITAGE TRUST
(A COMPANY LIMITED BY GUARANTEE)
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
RAILWAY HERITAGE TRUST
(A COMPANY LIMITED BY GUARANTEE)
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2026
31 March 2026
- 1 -
2026
2025
Notes
£
£
£
£
Current assets
Debtors
4
-
0
50,565
Cash at bank and in hand
3,345,112
3,628,991
3,345,112
3,679,556
Creditors: amounts falling due within one year
5
(3,340,825)
(3,679,640)
Net current assets/(liabilities)
4,287
(84)
Reserves
Income and expenditure account
4,287
(84)
Total members' funds
4,287
(84)

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 7 July 2026 and are signed on its behalf by:
A J Savage
T J Hedley-Jones
Director
Director
Company registration number 1876790 (England and Wales)
RAILWAY HERITAGE TRUST
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
- 2 -
1
Accounting policies
Company information

Railway Heritage Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is 9 Bonhill Street, London, EC2A 4DJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements for issue, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors consider it appropriate to prepare the financial statements on the going concern basis.

1.3
Income and expenditure

The Statement of Income and retained earnings format adopted by the company is not in accordance with the prescribed formats of the Companies Act 2006 but is necessary, in the opinion of the directors, in order to show a true and fair view given the nature of the company's activities.

The company identifies suitable schemes for the preservation of buildings and structures of historic interest. The company receives an allocated fund, shown under Income, from Network Rail (NR), National Highways (NH) and is responsible for making payments to identified suitable schemes.

The company may also receive other sources of funding from time to time. Legacy income is recognised separately from NR and NH income, when the company is entitled to the funds, it is probable the income will be received, and the amount can be measured reliably. This typically occurs upon notification of an impending distribution from the estate and confirmation of the value. Legacy income is treated as unrestricted income.

Additionally, the company receives a financial contribution to wards its management expenses.

The retained earnings surplus at the end of the year represents the contribution from NR and NH, and other unrestricted income in excess of the administrative expenses.

1.4
Cash and cash equivalents

Cash and cash equivalents include cash in hand and deposits held at call with banks, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

RAILWAY HERITAGE TRUST
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 3 -
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. It only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method less any impairment.

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or the risks and rewards of ownership are transferred.

Basic financial Liabilities

Basic financial liabilities, including trade and other payables, are initially recognised at transaction price and subsequently measured at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.6
Taxation

The company is a no t-for-profit organisation and as such is only liable to corporation tax on interest receivable.

1.7
Employee benefits

The company operates a defined contribution scheme for its employees. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions payable to employees' personal pension plans are charged to the income statement in the year they are payable.

1.8
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

RAILWAY HERITAGE TRUST
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 4 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2026
2025
Number
Number
Total
2
2
4
Debtors
2026
2025
Amounts falling due within one year:
£
£
Prepayments
-
0
50,565
5
Creditors: amounts falling due within one year
2026
2025
£
£
Trade creditors
-
0
25,283
Corporation tax
11,869
17,311
Other taxation and social security
514
514
Deferred income
-
0
50,000
Other creditors
3,316,189
3,572,707
Accruals
12,253
13,825
3,340,825
3,679,640

Other creditors comprise other grants awarded but not yet claimed.

6
Members' liability

The Railway Heritage Trust is a not for profit company limited by guarantee, and has no share capital. The three members of the company have agreed to contribute £20 (2025: £20) each to the assets of the company in the event of it being wound up.

RAILWAY HERITAGE TRUST
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 5 -
7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 March 2026 and of its surplus for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Christopher Bates FCA
Statutory Auditor:
Begbies
Date of audit report:
10 July 2026
2026-03-31 2025-04-01 false false false 10 July 2026 CCH Software CCH Accounts Production 2025.100 No description of principal activity A J Savage P H Dean T J Hedley-Jones A V Jipps 1876790 2025-04-01 2026-03-31 1876790 2026-03-31 1876790 2025-03-31 1876790 core:RetainedEarningsAccumulatedLosses 2026-03-31 1876790 core:RetainedEarningsAccumulatedLosses 2025-03-31 1876790 bus:Director1 2025-04-01 2026-03-31 1876790 bus:Director3 2025-04-01 2026-03-31 1876790 2024-04-01 2025-03-31 1876790 core:CurrentFinancialInstruments 2026-03-31 1876790 core:CurrentFinancialInstruments 2025-03-31 1876790 bus:CompanyLimitedByGuarantee 2025-04-01 2026-03-31 1876790 bus:SmallCompaniesRegimeForAccounts 2025-04-01 2026-03-31 1876790 bus:FRS102 2025-04-01 2026-03-31 1876790 bus:Audited 2025-04-01 2026-03-31 1876790 bus:Director2 2025-04-01 2026-03-31 1876790 bus:CompanySecretary1 2025-04-01 2026-03-31 1876790 bus:FullAccounts 2025-04-01 2026-03-31 xbrli:pure xbrli:shares iso4217:GBP