West Somerset Railway General Discussion

Question - in this airline style pricing scenario - what would a volunteer TTI do with:

1) A family with young children who were on the wrong train?

2) A group of young men who'd had a few drinks and were on the wrong train?

 

I do think that the plc needs to communicate better with its shareholders. That said, I understand that resources are stretched, and am sure that company officers and staff are doing their best.

 

Given that local papers are almost all weekly & would have been aware of the meeting, surely a statement could have been prepared in advance outlining the proposals for dispatch after the event with any necessary tweaks?

 

I don't understand why Robin is being coy over the EGM resolutions presumably passed last Saturday; they will be on the Companies House website in a little under 2 weeks time and then public.

If I understand things correctly, the preparation and filing of accounts for the PLC was put back by 3 months end of last year, and presumably now extended a further 3 months, so a 6 month delay in the accounts and then 6 months for filing them. And this with a firm of accountants employed as PLC Company Secretary (Four Fifty), and with such professional input at a high level of a firm of accountants on the PLC Board, and only 3 other Directors, it all seems a bit odd to me.

No Treasurer at PLC Board level, so presumably 'Four Fifty' have taken on this role as well as Company Secretary, yet a professional firm of accountants employed need an extra 6 months. There ought to be a very compelling reason for all this.

Also why the WSRA Trust has no longer any board members on the WSR PLC, since Frank and Rodney were removed, and have not been replaced.

Just stating how it is from a perusal of the Companies House records.

Cheers,
Julian

 

Can any shareholder inform us mere mortals what the extension resolution said? For all Companies registered in England and Wales (which includes Somerset for these purposes!), there is a statutory deadline for filing accounts. For a plc, this is 6 months after the year-end, and when the year has been extended before the original due date, this is 6 months after the new year-end - or 30th September. in the WSRplc case.

The Articles may require accounts to be placed before a General Meeting sooner than the statutory deadline, or perhaps within a set period of the previous accounts. I presume this requirement is what was altered by the resolution passed (we can only assume) at the secret meeting. The Companies House deadline CANNOT be changed by anything done at the meeting.

If the accounts are not filed by 30th September 2019, as far as I can see WSRplc will be penalised by Companies House for at least £750.

When are the accounts expected to be ready?

Steven

 

The resolution is on the website. I imagine it was passed since if not I reckon we’d have known by now.
https://www.west-somerset-railway.c...rtant-communication-to-wsr-plc-shareholders-2

 

Thank you Miff,

I read the EGM letter and Notice at the time, and they were about as clear as mud.

18 months between AGMs seemed to me to be nonsensical, as Company Law requires annual accounts, so I assumed a further 3 month delay in preparing accounts from 31st March 2019, so they should be now ready as from 30th June 2019. And for filing withing 6 months of 30th June 2019.

There is something quite odd going on here.

You cannot extend 2 AGMs over a period of 2 x 18months to provide only 2 sets of accounts in 3 years!

But I am not an expert in these matters these days, and defer to those more up to date with these matters of Company Law.

I am still surprised that 'Four Fifty', a firm of accountants, as Company Secretary, need all this extra time to get a grip on matters to prepare a set of accounts.

I am reminded of certain posts on another (closed) thread critising the WSRA old 6 trustees incurring 'huge' professional fees...

Cheers,
Julian

 

Thanks @Miff.

I suspected the Articles had a requirement like that - but the Motion doesn't specifically relate to just the accounts, but rather the AGM (I will admit not checking the existing Articles but I am sure the laying of the Accounts before the AGM is a standard part of its business -n hence, no accounts means no AGM). Hence, all AGM business is now delayed and I think I am correct that none of the current Directors have been approved by an AGM.

To one extent, extend a year-end and you risk not being able to hold the AGM soon enough after the previous one to comply with the Articles. Again, to save me looking, how long was the gap between AGMs allowed for by the old Articles? It would, I am sure, be a little more than 12 months to allow some flexibility in selecting AGM date.

Is there a date for the AGM yet?

Steven

 

The PLC, web site shows the last minutes of 45th. AGM, 24th. June 2017. That is over two years ago.
The latest appeal, when I looked recently, for track etc, has had 59 donations, I suggest those are probably supporters and friends, none on-line it is said. Which may suggest other folk are holding back support.
Notable is that most recent news is of the good news type, albeit about short term events, but little about the lines predicament, which may explain why.

 

Then why was their latest communication printed on what can only be described as the glossiest notepaper I have ever received! I am sure that cheaper paper could have saved at least the cost of a few chairs for the new rails. As my much respected Grandfather always said "look after the pennies and the pounds will look after themselves"!

 

As my much respected Grandfather always said "look after the pennies and the pounds will look after themselves"
A good and sensible adage Keith, but it seems to have become forgotten in the last few decades.

 

I could well imagine Pharaoh Khufu's treasurer entertaining similar notions!

 

Which railway did he run?

 

I believe it was the Giza Central Railway, but don't quote me.
He got lots of people to work for peanuts or nothing I gather.

 

Well, there was I thinking that I was being clever, I didn’t for a moment think he was a railway operator! I assumed that he was somebody from the past who was famous for being mean and who I, in my ignorance, had not heard of.

 

The only railway that had special rates for mummies - but only for a one way fare-aoh

 

A public statement about the WSR EGM on Saturday is now available.

https://www.west-somerset-railway.co.uk/news

Robin

 

Rodney Greenway and I both resigned voluntarily from the PLC Board (at different times), for reasons which we have not made public. We were not "removed".
Frank Courtney

 

Thank you for posting the link

It says...

This seems a bit difficult to square with @Bean-counter 's opinion, above, that the company is legally required to submit accounts to Companies House before the end of September.

 

The accounts that are required to be filed at Companies House in a September are IIRC a very short summary. Presumably the detail (and what is made available to the shareholders) is what is being delayed.

Regards

Matt