Peak Rail Annual Report and Action Group

You forgot to mention the shopping centre and a load of houses built over the formation north of the A6 at Rowsley. Looking at the operation of Peak Rail and the lack of passengers over the last two days I can see it withering away over the next few years. The guided busway from Derby to Matlock didn't seem that well used either. It was a mistake to close it as a through route but it's now gone and perhaps best left that way.

 

There is further information about the AGM on the weekend rails blog entry for the 1st July.

 

I can well understand that, Breva - and I'm sure you're not the only previous supporter of the line who feels that way.

 

An interesting thing to note is Bakewell was originally supposed to retain its train station according to Beeching. Never quite got why it got cut further back to Matlock.

 

The famed accounts are now available (free of charge) on Companies House. https://beta.companieshouse.gov.uk/company/02071143/filing-history

The accounts look fairly complete but I can see no disclosure in respect of Directors' remuneration. I assume that, to their credit, they did not take any.

 

Its what?

 

I think perhaps that should be " Railway " Station

 

First impression from filed accounts to me is that the company is trading only by the goodwill of their creditors. I appreciate that these accounts are a snapshot in time but the liquidity,or rather the lack of it, of the company is a great cause for concern

 

If receivers were to be brought in, what would they do? Would the railway be worth more as a functioning business or as scrap material and land?

 

The shopping centre and houses are on what was the original terminus station and later the goods yard site. This is not the route to Bakewell.
The main line rises up on an embankment and crosses over the A6 by The Grouse pub before going over the river on a viaduct. the line follows the A6 for a while before going in to a tunnel by Haddon Hall.

 

A very good question. In the light of recent, mostly retail, insolvencies, it's worth bearing in mind that other options exist.

 

Aren't the largest creditors the directors and president, who have provided loans to cover some of the legal costs?
I would presume that they are unlikely to call these loans in and bust the place...

 

If that is so then it could explain their reluctance to 'let go'. After all a 'bird in the hand, is worth two in the bush'.

 

And likewise, if things did 'hit the fan', they'd have a big voice on the disposition, and maybe wind up with some of the pieces.

Noel

 

This sums up the position that the Peak Rail PLC has got into with the current leadership, the railway needs cash to continue, but should people part with their hard earned cash when the above sentiment prevails.

Why the PLC board doesn't co-opt two or three of the Action Groups proposed directors onto the existing board would achieve several things:

1 Transparency in the workings of the existing directors.
2 Show of faith to the members / shareholders that they want the railway to succeed.
3 Curb the existing "So, take us to court" mentality of present

The Action group are not there to close the line, they want the line to survive and prosper for the future (my words, not theirs).

 

I wish I could write some words that would help provide a swift resolution and enable a re-invigorated re-start to the 'Peak Rail Project'. But such mindful thoughts elude me.

I, in fact all of us, know so little of the full story. We are only left to make it up in our own minds from what we see and read before us, and through human nature, try to fill in the gaps. All of which is probably far from the actual truth and will probably never be known.

So whilst the relatively few become more and more entrenched, so lengthens the time when the whole railway can start moving forward again. In the meantime, we will continue to tippy-toe along trying to make progress, when in fact it feels more like we stagnate. We put a brave face on things claiming little nuggets of achievement to ourselves, such as authentic lamps at Darely Dale, Signal Box at Rowsley, Class 14 working again, and an LMS brakevan being restored to authentic condition. All of which is over shadowed into darkness by hatred, anger and needless costs to the railway. The only ones who can end this are those who are embroiled in it. And will they give consideration to the rest of us, even if that means walking away?

As this continues, then events will overtake us, such as if the quarry companies do hit to railway rebuild button. Meanwhile those few on whatever side, believing they are right, will have expelled so much energy and resources, earned by volunteers and supporters of the original dream, that there will be none left to keep the railway going, let alone move forward.

This is what it feels like.

 

Interesting; the 'Officers' page shows that Ms. Statham seems to be in her late 70s. I wonder if that is having any influence; and will it come into play?

Noel

 

Also interesting, not seen in the abbreviated report sent to shareholders, is the auditor's comment on P8 headed 'Material Uncertainty Related to Going Concern'.

 

In fact, the age profile for the remaining directors is interesting. Not much in the way of young blood there..!!