Discussion in 'Heritage Railways & Centres in the UK' started by 14xx Lover, Jan 4, 2010.
They enquired about scrapping in situ, so most likely not.
Is there a full list of prices realised available?
The prices soon disappeared off the auction site once the auction has finished. People watching in the closing seconds might remember the final prices though and post them here.
A few that I know:
Davy - £11,250
Function coach - £8,000
CK (the coach in poorest condition) £20,500 ish
TSO 4702 (the most expensive coach) £38,250
Most other coaches went for around 32k, apart from one other at £36k ish.
The RBR received no bids and wasn’t sold.
I think these prices are all correct as I tried to record them as they ended. The workshop machines etc I didn't itemise what they were.
Well done for capturing all those prices! Not an easy tasks with so many lots, and constantly getting extended when new bids were received. Thanks for sharing.
Sorry to br thick, but what do the figures in the righthand column mean please?
Totals I think.
Looks like it. The coaches did provide a quite a large portion of the total.
Presumably buyers premium wasn’t added to the RMB as it was sold outside the auction? Was the price the Spa Valley offered inclusive of VAT, or was VAT added on? The Spa valley clearly got a bargain, even more so if that price includes VAT already.
Yes you are absolutely correct FS123. Just added up the figures for the coaches and they agree.
Not sure how long this web page will remain available, but it identifies all the workshop machine lots.
I quoted a long-standing accountants/business aphorism (with which I am sure you are aquainted) as a way to light-heartedly explain to the non-accountants on here why the asset values of stock could vary depending on the approach that had been taken. Something that a number of posters were querying.
I made no suggestion that the transactional data should be altered.
Thank you for acknowledging my point.
PS: You must not assume that you are the only accountant here !
Sadly humour doesn't always carry over in written text and I wasn't the only one to read more seriousness into it than you intended. Ultimately whilst you may have understood the tone of your comments it is always worth ensuring that where humour is being injected it is highlighted
Asset values don't vary for tax and financial purposes . Mr Tax Man is less interested in value on an annual bases, although he can nail you for capital gains on disposal. Revaluation may trigger higher depreciation but this is of course added back and capital allowances given for tax purposes Business can of course revalue assets where there is a significant appreciation
I'm not an accountant, but shouldn't assets be revalued regularly for insurance reasons? Once you've done that then it becomes very difficult to argue a lower value for accountancy purposes, I would have thought? Or are most railways running with massively underinsured Mk 1s?
Accounting standards require fixed assets to be valued at the lower of cost or net realisable value *
As mentioned above there are well known reasons why this value shouldn't be used in its own by the directors when making decisions. Insurance being one of them.
Directors need to use their judgement with insurance as with an other aspect of the business.
* There are exceptions, but this is National Presevation, not Accounting Today.
A pretty good outcome given the circumstances and the dismal alternative that was facing the railway. Very well done to the ‘friendly bidders’ for their support and commitment to the railway.
Fingers crossed the line can reopen in the summer. I’m off to make another donation, every little helps!
With the light of reopening shining faintly at the end of the tunnel, it is perhaps the time now to put the auction behind us and start looking forward to the reopening. I think most of us would agree that the LR had forced its way towards the top tier of heritage railways before the crash, but with a large part of its fleet of locos having left, it has now sunk to being a much more mundane operation. Will it ever recover and rebuild its former status?
At least it has the chance to, Had it been a situation where the PLC owned everything, it would have been a far more sober ending,
Mundane operation? Some of my most enjoyable trips to preserved railways have been to ones that aren't "top tier", however anyone personally defines it. If the staff are welcoming are happy, the train and surroundings are clean and cared for, the journey interesting (that can't be taken away from the Llangollen), and a good cup of tea and a cake is to be had, I don't much care if the engine is an small industrial tank or a large tender engine or mainline diesel. On the Llangollen, the DMU trip is a delight. I don't think the Llangollen could ever be mundane.
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