Depending on the class of ticket you have, you may or may not be allowed to board the next train with the same ticket. According to railway regulations, once you reserve a seat, you are not permitted to use the same ticket to board the next train.
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Sometimes they'll even say that your itinerary or tickets are even invalid! Don't worry, though, they're not invalid. If a train is cancelled (and that's what's happened here) you're entitled to take the next train that matches any restrictions on your ticket.
Generally speaking, most tickets are valid for a specific train only and cannot be used for any other service. However, some companies may offer flexible tickets that allow you to take an earlier or later service if available.
If you are caught with a reserved ticket for another train, you will be treated the same way as travelling without a ticket. A hefty fine will be imposed and the railways may also take legal action. If you miss your train with a reserved ticket, you have no option but to reserve a seat again for the next train.
Whether you can change your ticket, or receive a refund, depends on the type of ticket you have bought and where you bought it. Changes to tickets can be made at most National Rail ticket offices before you travel. Alternatively, you can contact the online retailer that you bought your ticket from.
They are only similar in that both refer to not getting something. However, when we 'miss' something, we are late, but when we 'lose' something, we do not have it anymore.
By the time a train operator sees you, it is too late to stop the train in time. An oncoming train is moving faster and is closer to you than it appears. Similar to an airplane traveling at 150 mph that appears to float onto the runway, it's hard to determine a train's speed and distance from you.
Full refund to original form of payment if changed or canceled within 24 hours of purchase, regardless of time elapsed between purchase and scheduled departure (within one hour for tickets on unreserved services).
If you cancel a confirmed ticket within 48 hours and up to 12 hours before the scheduled departure of the train, ticket cancellation charges will be 25% of the fare (subject to the minimum flat rate mentioned above).