Severn Valley Railway Society Limited

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The Severn Valley Railway Society Limited (SVRS) is the parent organisation of the Severn Valley Railway. It is a Charitable Community Benefit Society (CCBS), Registered Society number 9742.

Formation

In December 2024 the SVR announced plans to bring together the three separate companies that made up the SVR into a new 'One Railway' structure. Subject to approval by the Railway's shareholders and members at EGM's in 2025, this would be achieved in stages by:

i) the conversion of SVR(H) (the Public Limited Company) into a Charitable Community Benefit Society (CCBS),

ii) the amalgamation of the newly formed CCBS with the Guarantee Company (the Member's organisation), and

iii) the inclusion of the Charitable Trust with the CCBS as soon as its circumstances allow.

The Shareholders and Members at the AGMs on 21 June and 9 August respectively voted overwhelmingly to proceed with the conversion into a Charitable Community Benefit Society (CCBS) as part of the proposed restructuring.

On 16 April 2026 the SVR announced that the Financial Conduct Authority (FCA) had approved its application to convert Severn Valley Railway (Holdings) Plc into a charitable community benefit society (CCBS). The newly constituted organisation would be named Severn Valley Railway Society Limited, the name being "...clear, appropriate and a fitting nod to our origins.".

Severn Valley Railway Society Limited was registered with effect from 1 June 2026 under the Co-operative and Community Benefit Societies Act 2014. It became the parent organisation in succession to SVR(H) from that date.

The SVR(H) Accounts for the period ended 4 January 2026 include the following note under 'Post Balance Sheet events', giving more details about the conversion process:

• On 1 June 2026 the Company will complete a conversion under the Co-operative and Community Benefit Societies Act 2014, with approval having been received from the Financial Conduct Authority. The Company continues as the same legal entity with all assets, liabilities, employees, contracts and other arrangements transferring automatically to the newly constituted Severn Valley Railway Society Limited.
• As part of the conversion the existing £11,094,576 ordinary share capital will be extinguished and transferred to an unrestricted fund in accordance with the Society's rules.
• Retained earnings, at a loss of £1,178,189 will also be redesignated to the same reserve.
• Total equity remains unchanged at £9,916,387.

Membership

As a result of the conversion to a CCBS, existing shareholders in SVR(H) and members of the Guarantee Company automatically became (or will become) members of SVRS. SVR Shareholders were entitled to 'free' travel benefits resulting from their shareholding. SVR Members paid an annual membership fee with an option of Life Membership; in return they were entitled to receive a free copy of the quarterly magazine SVR News and were eligible for travel and certain other retail discounts.

SVRS is a CCBS regulated by the FCA. Under FCA rules, membership benefits must be available to the wider community, meaning that membership of SVRS cannot itself provide exclusive benefits (such as travel discounts etc). For this reason, SVRS membership will cost just £1. This gives the member voting rights (eg at the AGM), but will not confer other benefits and disounts.

Founders Club

Formerly, shareholders in SVR(H) were entitled to shareholder travel benefits varying in proportion to the level of their shareholding. However as this was no longer permissible, the SVR established the Severn Valley Railway Founders Club ("Founders Club"). On 1 June 2026, existing SVR(H) shareholders automatically become a member of SVRS and also a member of the Founders Club. Founders Club membership is personal to the individual, valid for life, non-transferable and fixed at their entitlement level as of 28 May 2026.

SVR Travel Club

The SVR will create the SVR Travel Club which will be open to anybody, including (but not restricted to) SVRS members. Membership of the Travel Club will require an annual fee, similar in value to the former Guarantee Company membership fee. In return, membership of the Travel Club will provide travel and purchase benefits together with the quarterly SVR News. Details of pricing and options will be shared before launch. The change will apply to existing Guarantee Company members when their membership renews.

Management

On 1 June 2026 the existing Board of Directors of SVR(H) (including the Directors representing the Guarantee Company and the Charitable Trust) became the Board of Directors of SVRS. Chris Walton continued as Chairman, with Jonathan Dunster continuing as Vice-Chairman, together with the new title of Chief Executive Officer (formerly Managing Director of SVR(H)).

Following the merging of the Guarantee Company into SVRS later in 2026, its functional structures will be built into the new single organisation's leaderhip structure, details of which will be published shortly.

This stub article will be revised and updated in due course as this process is completed.

See also

• Current Organisation

External links

• Severn Valley Railway Society Limited on FCA Mutuals Public Register

Severn Valley Railway Society

Severn Valley Railway