FOREST OF DEAN RAILWAY LIMITEDActive

The principal activity of the company and the group is the development and upgrading of the railway line between Lydney and Parkend in the Forest of Dean for operation as a steam railway. The trading subsidiary operates as a properly constituted private limited company whose purpose is to generate a trading surplus which is then re-invested back into the maintenance and development of the Lydney to Parkend Branch Line. The company adopted Articles of Association that prohibit the distribution of profits, accumulated surpluses and assets in whatever form to its shareholders. Chair's Report The year covered by this set of accounts has seen steady, sustainable, growth paving the way for several major projects to be carried out. Of these the new inspection pit in the yard at Norchard and associated works around it, plus the renewal of Lydney Town Level Crossing have now been completed. The level crossing project was extremely well planned and serves as a template for future works. The Company is looking towards the future with plans for works to be carried out at Lydney Junction to begin to to pave the way for possible future expansion. We would like to state our appreciation of the work of all the groups that make up the Dean Forest Railway family, our paid staff and most importantly all of the volunteers that allow the railway to operate successfully.

As described in the company's latest filed accounts.