Yesterday, the Severn Valley Railway announced that Severn Valley Railway (Holdings) Plc has been converted into a Charitable Community Benefit Society (CCBS).

Following approval from the Financial Conduct Authority, the company is now known as the Severn Valley Railway Society Limited (SVRS).

The alteration is a milestone in their One Railway project, aiming to create a more resilient railway.

The project required the support of shareholders and members due to the restructuring involved, both of which opted for changing the company into a CCBS.

This alteration opens new opportunities for grant funding streams as well as Gift Aid benefits.

“Today marks a defining moment in the history of the Severn Valley Railway. The creation of the Severn Valley Railway Society Limited is the result of a clear vision for the future of the railway and the strong support shown by both shareholders and members throughout this process.

“This new structure places the railway on a firmer footing for the years ahead, while preserving the values and heritage that are so important to everyone connected with the SVR. On behalf of the board, I would like to thank all those who have contributed to reaching this milestone. Their commitment, patience and confidence in the One Railway project have helped make this day possible.

“We can now look ahead with optimism and ambition as we continue to strengthen and develop this remarkable railway for future generations.”

Chris Walton, chairman of the Severn Valley Railway Society Limited