Lynton and Barnstaple - Operations and Development

And the railway would be how much better worse?

 

Just to clarify my understanding of this. You can give funds to YVT towards trackbed purchase - since you have given the funds as a donation the tax paid can be claimed from HMRC as gift aid. YVT will then use the funds to buy shares in EA - the shares belong to YVT so they're not yours.

 

And, from previous discussions about linked charity and company structures, that kind of arrangement will need to very carefully considered and handled. If that’s the plan - and it’s one I like - then I can well see why it’s taking time to get right and watertight.


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I would agree that there is very little, if anything, about the YVT on the web at the moment. However they do issue an 'occasional newsletter' (called Viaduct News), the first two issues of which have been sent to EA members along with the relevant Trackbed Trails. So EA members at least ought to know all there is to know about the YVT by now anyway.

As an aside, AIUI one of the 'drivers' for the proposed commuter railway is allegedly a concern from NDC that the commuters of BF are regularly 'cut off' by floods, ice, etc...... Mind you, if the NDC really are 'keen' to have the railway rebuilt, let's not stand in their way

 

It does seem odd that the company, which is not a charity, is apparently restricted to buying bits of land, while the YVT, which is intended to become a charity, can have a broader scope, being able to buy shares in the company (and thus become part-owner of those bits of land) and buy other things of use to the Railway. It would be good to have an explanation, all in one place, of the respective responsibilities of all the L&B's organisations and of the respective rationales. I suppose, as an EA shareholder, I ought to request that information.

 

My understanding of all this is that EA was set up to buy trackbed for the future rebuilding of the L&BR which is fine as that is something that needs to be done. If as I recall correctly there was an agreement in place between the L&BRT and EA on how the trackbed would be transferred over to the Trust from EA. But I am not sure at this moment in time if this could or has been acted upon.

Personally I would not invest in YVT as there is a problem which I am surprised no one has mention so far and that is a Trust can not give or loan money to a company it has no control over and YVT has no control over EA and why should EA hand over it power to a charity that has not been set up in line with what EA has been doing all this time? I think it is getting to the point of having to many chiefs and not enough Indian's.

It needs to all be kept simple, but one question of you all to think about (and I think it is a bit of an elephant in the room right now) if you buy trackbed via the YVT when the L&BRT or its successor gets to the point of wanting that trackbed south of Wistland pound Reservoir which is owned by EA/YVT will this mean that L&BR Trust members might have to pay twice for it?

We are supposed to be all doing this of the benefit of rebuilding a railway across Exmoor, but I am getting concerned that there may not be a Plan B in place if the L&BR Trust goes pear shaped as it is not looking good from what I can see:-

Blackmoor purchase this has gone all very quite.

Parracombe Planning might not happen until next year and what happens if that is refused?

Has anybody at the management level even read what a Trustees is supposed to do and is responsible for? the silence is deafening.

It concerns me a lot, that we could see in the railway press sometime next year 'LYNTON AND BARNSTAPLE RAILWAY GOES BUST' then what? I just hope that after all the effort that has gone into the project so far, does not get wasted, I have not even mention the link the Trust has to both the 762 Club and to the Manning Wardle & Co company. What is going to happen to both of them? Answer on the back of a postage stamp (if you are old enough to remember what one of those looks like )

Going back to my sick bed for now, All I can say is there are still a lot of questions that need to be answers and some of the answers will be not what we want to hear, but we can not let this carry on.

 

I understand that some trackbed had been transferred from EA to the L and B - I think I read this on one of the websites. Maybe someone 'in the know' could confirm this.

I don't think you 'invest' in YVT - you donate to it.

I don't think so - it maybe transfered [or leased to ring fence assets] - As I understand it we don't buy trackbed via YVT - we donate to YVT and it funds EA by purchasing shares and then EA buys the trackbed.

 

it has been acted upon, most recently IIRC, the stretch between Blackmoor and Wistlandpound, in order for the two bridges to be reconstructed. Im not sure if a financial transaction was necessary, but if so, this would have been the nominal £1.
This hopefully will answer your second query, about "paying twice". The matter, if it came to that, would be immaterial.
Lynbarn, your post contains a good deal of wild speculation, which is unhelpful, as it is, remember, being seen by the wider public.
I know that sounds like a stuck recording, but it obviously needs repeating. A decision on S73 is currently due next month. Why do we not keep our powder dry, at least until then?

 

Have you thought of looking at the FAQs on EAs website or contacting them if you cannot find what you are looking for

 

Mark I do agree with you about keep our power dry till the decision has been made, but as I see it (and I have been here before in the last 43 years with the L&BR group) I just find all these various groups a waste of time and effort, the project appears to have grown like Topsy satisfying various individuals along the way but I want to see some of the rifts healed not expanded, I just can't see a case for the YVT in the overall set up.

 

look at tt20 i think

 

Thanks, Andy. So, part cash, part share transfer. Lapse of memory on my part. That transfer occurred in 2018, for anyone wondering when it was.

 

A very unhelpful post Colin.
I fail to see how either the Blackmoor purchase or the Parracombe planning could possibly cause the L&B to go bust. It would simply mean the railway would stay at its current length. Of course no L&B supporter wants to see that happen, but at the end of the day if you don't have the land, the permissions and the money then there's not much more you can do about it, but it doesn't mean the end of the L&B nor does it mean the board are somehow to blame.
Just because things aren't going the way we would all like, doesn't mean that everything is doomed to failure.

 

I can and do accept that I am just one member who has been around for a very long time and is there anything wrong in makings sure that you get the very best from a project you have supported for well over 40 years? I don't think so. Like I have said before I care about this railway and what happens to it.

You suggested that the post was unhelpful but to whom? the discussion or the public at large who may or may not read this forum.

The railway may go bust? well that would be down to other parties outside of the L&BR Group. the railway does not stand alone in legal terms, it has for instance have to produce annual accounts and financial statements that need to be sent to both the Charity Commission and the Tax Man for Gift aid etc, if they appear to be wrong and they get hold of it there could be implications that none of us are aware of.

 

It doesn't appear that you want the best for the railway, judging by your recent posts which are full of wild speculation and attacks on the railway.

Your post is unhelpful to anyone who sees it. Potential volunteers, potential donors and the railway's progress if opponents see and believe some of your comments.

It was you who suggested that the railway could go bust next year (with no grounds for such a suggestion) and also suggested that this could affect the 762 club (again no evidence)

If you support the railway as you claim, perhaps it would be best to keep your theories private.

 

I can only second what Keith says. Your rather wild assertions on a public forum are harmful, and can be used by those who are eager enough to seek any ammunition against this project.
Whatever your doubts and misgivings may be, can I advise you to go down the PM route? There are several working members on this forum whose ears are close to the ground - ask them whatever you're trying to get at, but away from public scrutiny. Is that too difficult? We all care deeply about this project, and wish it success with all our hearts, but PLEASE recognise when you are doing harm by spraying your speculative fears around in a public arena. Is that too much to ask? At the moment, you're like a firework going off in a confined space.

 

Mark, What do you mean by 'go down the PM route?' Sorry if I am being dense here.

 

I think he means "if you don't like what is being said, just wait a few days for the inevitable U-turn"

Tom