Teifi Valley Railway

Unlike those who would censor Elizabeth, I welcome her insights into the railway and hope she continues pointing out issues, to avoid the new management falling into similar traps that the old fell into. Dal ati!

 

Nothing to do with censorship, it's about moving on for your own wellbeing and mental health. Those interested in the accounts will look them up or contact the railway for themselves.

Keith

 

Looking back at an early post

1. The main lesson seems to ensure Societies/Trusts encourage new younger people to take an interest and maybe become directors.
Not easy as the HNGRT recently found.
2. The interest in the Teifi Valley Railway by the businessman was just to gain access to trees for logs and profit. Seems just to relate this railway and he did not last long, with a new management team now making progress restoring the railway, but Societies/Trusts need to ensure they don't end up in simular situations, especially now land has increased value for new housing estates.

 

Thanks to those who recognise the importance of good admin. It's a shame to see hard work on track and engineering being let down by the directors not doing their duty.

 

The cafe at the TVR has failed to submit Accounts again and the first Notice of Closure has been issued. (see attached). The TVR Accounts were due 30th September but have not yet reached Companies House so the Company's future still hangs in the balance.

 

Hi Elizabeth -- do you think they even know they're supposed to do this...?

 

Is "the company" in question just the cafe, or the whole railway?
It'll be a bitter pill if any of it goes to the crown

 

Two companies here - one the original Railway and holder of the LRO, one set up by the New Management in 2015 to run the cafe. The New Management consists of the General Manager Ivor MacFadzean and Nikki Cox who took over the finance and admin role. Since 2014 the Railway Accounts have been late every year.

 

December 30th marks the end of another financial year for the TVR - but the Accounts for 2018 haven't been completed yet. The Railway Society doesn't have to send in Accounts to the Charity Commission, just an Annual Return to show it is still active - but hasn't even done that. Can anything be done to restore the reputation of this once competent organisation?

 

Volunteers made the Santa trains a success. But the Accounts for the Company and the cafe are now 3 MONTHS OVERDUE at Companies House. Admin letting the Railway down badly.

 

I think you've made your point - more than once. Time to give it a rest.

 

Maybe a cuttlefish would help...

 

Keep posting Elizabeth, ignore the naysayers on here. If they don't want to read your posts they can skip them! I find your insights into the current bunch 'running' the railway most interesting.

 

But there are no 'insights'. It's merely Elizabeth complaining about late accounts. Perhaps if she gave a synopsis of work planned/achieved/not achieved with each of her postings then it could be called an insight...

Keith

 

But she's made it quite clear that she has reached out to them but they won't talk to her, so what else can she do? If the railway was going from strength to strength and turning a small profit, she would have nothing to complain about, but being under annual threat of being wound up due to administrative sloppiness (which is all we can conclude unless someone from the railway decides to tell us otherwise) is a legitimate concern and worth reporting. It would certainly make me think twice about helping them financially, for example (not that they have asked for any financial help, that I'm aware of).

I've visited the Teifi once, nearly 30 years ago now, and whilst it's a pleasant trundle through the woods I don't think it's a hugely exciting line to get worked up about, but I wish them no ill. But if they want positive publicity, they need to generate it themselves.

 

Reading from afar and not part of the railway. But I'd imagine those that were part on some way of the previous destructive administration. May not be welcomed back with open arms (dont blame them with the history of the site).

Whilst not submitting accounts is massively concerning. It really only needs to be said once.

 

@Elizabeth Perry, Perhaps you could help me clarify things a little.
It is my understanding that the café used to be run by the railway staff (do they still do?) when, out of the blue, a new company was formed called the Busy Bee Café Ltd.
Not being privy to the detailed accounts I can't tell if this was just a new company that existed in name only or if the railway had divested its catering to that company.

If so it would be interesting to know if that 'new' company paid the railway for the transfer of assets, had a lease agreement (and paid the railway rent) for the buildings and an undertaking to provide catering when the railway was operational.

If none of that happened then, as far as I can see (and I'm happy to be corrected if I'm wrong) the company titled 'The BB Café' has nothing, just a name. But in that case I'd have to ask: If they didn't come back directly to the railway, what has happened to the profits generated by the catering business?

It seems a very strange arrangement.

 

If only detailed Accounts were available! But the current system allows Companies to avoid scrutiny by publishing only an abbreviated balance sheet. In June 2015 the General Manager and the admin/finance manager set up the new Company as the sole directors and shareholders - which means they receive all of any profits. The Accounts do not show any assets - building, catering equipment, furniture, cutlery, crockery, decorations etc. so presumably the Company hasn't taken them over from the Railway. There are no employees and any pictures show Railway volunteers serving teas or redecorating the building. How the cafe is doing is also invisible since the profit and loss account does not have to be shown to the public, but after the first year of trading there was £4,868 in the Bank, and after the second, £4,162. No more Accounts have been submitted. At least someone has noticed the closure warning and objected ...

 

Depressing to report that the Accounts for the cafe and the Railway are now 4 months overdue. In most organisations, if the normal person can't do a specific task, you get somebody else to do it. Not at TVR evidently. Maybe the same applies to the 2 uncertificated steam locos which have been standing in the shed for years when there are steam engineers 20 miles away at the Gwili - or even better, an excellent workshop 40 miles away at Rheidol. Get help!