West Somerset Railway General Discussion

As payment was overdue before the Covid crisis became apparent, how come that is being stated by the plc as the reason for non-payment?

This is more solid evidence of the need for a new structure.

I have asked WSSRT their (confidential) view of structure reform but no reply has been forthcoming thus far.

 

My friends in S. Wales love Butlins in Minehead and always have a day out of the railway. The gals and children love Watchet and Blue Anchor and the guys love the brewery in Bishops Lydeard. Everyone happy. They don't even consider using their car during their visit.

 

I like the penultimate paragraph :

Why am I telling you all this? Because you are members and you have a right to know. Later in the year you will have the chance to elect or re-elect trustees. You may feel that your trustees (and that includes me) have performed poorly and that you would wish to see them replaced. If that is the case the mechanism is there for you to do this. You may conclude that your trustees have done the best job that they could in difficult circumstance. I am not going to comment save to say the decision rests with you, the membership.

I hope the WSR Board have taken note.

 

Statement from the PLC & the S&DRT

https://www.west-somerset-railway.c...plc-the-somerset-dorset-railway-trust-limited

 

Is that more evidence that the PLC was financially insolvent before the excuse to use Covid appeared on the scene? Second-hand car salesmen, estate agents and politicians have just risen quite a few places in the "Who do you trust?" ratings

 

So basically the PLC have waltzed off without paying for Promotions. Nice. Isn't that called, er, "fraud"? As if further evidence was needed that these people are unfit to be in charge. Those who brought the current crop of conmen into power should be ashamed of themselves. Come on WSRA and WSST - is it not time to use your collective voting power, call an EGM, and get rid of the cancer at the heart of the railway, and whilst you're at it, to effect the structural change that 500+ people are calling for.

 

Fraud would apply to the individual(s). My bigger concern would be the implications if, at the time the debt fell due, the WSR plc could not meet that bill - that would be an offence by the company, not just one or more individuals.

 

There are significant implications flowing from the Promotions sale.

It does of course highlight the issues about the appointment of directors by the WSRA/WSSRT as if they are not 'business people' they could unwittingly find themselves in what is at least an interesting situation.

BUT the board as constituted at the time look like the sort of people who should understand what was happening.

 

Companies House still shows the WSRA as having control/ownership of WSRA (Promotions)
https://beta.companieshouse.gov.uk/company/03312904/persons-with-significant-control


The board minutes from December 2019 state;
Sale of Promotions a. PCW reported that the Shop & Cafe had been sold to the WSR Plc for the stock at cost plus the values in the asset register of the fixtures and fittings and the building. There were still some adjustments to be made but the final figure would be be of the order of £79,000. As this was the transfer of a going concern VAT would not be payable, but the WSR Plc would provide an indemnity for VAT in case HMRC were to take a different view. We agreed that there should be a press release, and a piece on our website, with a photograph of both Chairmen.


So, is it the company that's been sold, or the assets?


Either way, surely the WSRA had their solicitors or accountants handle the sale/transfer process...
& terms were agreed by both sides before anything was signed over...

 

Maybe this sale by the WSRA and the late payment is the real reason why the former WSRA Chairman resigned, as well as the alleged verbal abuse?

 

The latest issue of Railway Herald is out this evening and it includes a 6 page article on The history of the Railways around Taunton. I thought people(s) might be interested.

Ed Chap

 

One would hope that if that was a reason, then the former chairman wouldn't have cited "spending more time with family" but raised it as an issue there and then.

Well, it's yet another sorry mess the WSR has gotten itself into. How much longer can certain senior figures carry on convincing themselves that it's all the fault of people stirring things up on Nat Pres? And how much longer will people put up with it.
I'm not sure if it has ever been properly confirmed that the WSR supposedly already has most of its assets "in hock" to the bank for loans, but the inability to give the WSRA assets as loan security would lend credence to this. But if that were the case why would the WSRA raise it as an issue in the way that they have - surely they'd be more understanding?
Were any payments due to be made before coronavirus and missed? That would seem to be important in terms of concluding whether COVID-19 is a valid excuse or not - if not, and regardless to an extent, it adds further to the poor reputation the WSR presumably has in terms of its ability to stick to contracts. As discussed before, I don't think I'd be too keen to loan a locomotive to the WSR, I'd be even less keen now.

 

Well, looks like the Chairman of the plc has a spare loco
https://www.railadvent.co.uk/2020/0...eritage-railways-invited-to-hire-pannier.html

Though I doubt anywhere will be looking at hiring in this year, & if finances continue to be bad, next year.

 

That makes three panniers available then. The Bodmin & Wenford have 6435 and 4612 available for hire. A hirers market. (assuming somewhere needs a locomotive at the present time)

 

Finances or no finances, I have heard it said that some loco owners out there shouldn't be trusted any further than you can throw them. They'll hire a locomotive to you for let's say 5 years at an agreed steaming rate and the next thing you know it's withdrawn for a major overhaul, leaving the hiring railway another engine down in their already stretched fleet. Then, despite the long-term absence of their loco which effectively constitutes an inability to honour a contract, they demand an increase in steaming fees when it returns from overhaul at some indeterminate point in the future, also demanding shorter washout periods which puts additional pressure on the shed staff, and the right to take their loco out on the mainline whenever they feel like it (at a moment's notice). Oh and did I mention they would like to come and drive the loco just because they're the owner. Even though they're not passed out as a driver under the Safety Management System. No names. Just sayin'.

 

Sale of assets as a TOGC not a sale of shares per the VAT comments .

 

What an interesting post!

 

Noted. The WSRA statement refers to a payment due in February.

Can I draw people's attention to the WSR PLC statement of 1st June at https://www.west-somerset-railway.c...-to-safeguard-the-railways-future-financially . Para 6 refers to cash balances and £100,000 held by the PLC at 31st March 2020 "pending acquisition of the BL shop and cafe".


Patrick

 

For those of you close to the WSR who haven't yet heard, its sad to report that Andrew Sillett , WSR Volunteer has passed away.

Andrew was a volunteer member of the WSR Minehead Loco department team and as anybody who knew him will know a great character guaranteed to bring a smile to your face when you met him, always cheerful and always somebody who would brighten your day. Speaking personally working with him was always entertaining and always a pleasure.

He was also involved with the Community, living locally with his wife Angela who is a local Vicar and involved with my wife's C of E Schools.

Love and Gods speed. Andy & Julie Norman

 

Who wants to do business with people who behave like that? If I were doing so, it would be 'cash up front'.