Teifi Valley Railway

Re. Companies House. Their website helpfully has a page on which you can fill in a form to object to a Company being closed down. This will put a stop to the closure process. There is also helpful advice about the sort of objection likely to be accepted and possible renewal of the objection. The most usual objection is because the Company owes you money. Companies House can do nothing until the objection is released.
The mention of renewals implies that the closure could be delayed indefinitely, which means the TVR and its cafe will never need to publish annual Accounts again ...

 

But the assets will then pass to the Crown

 

No the assets only pass to the Crown if the Company is closed. It can't be closed until the objection is released so everything is frozen - and none of this is known about by volunteers or the general public. Neat isn't it? The Railway Society accounts are getting the same treatment (nearly 2 years overdue) so it will be interesting to see what the Charity Commission does about that.

 

Sadly not a lot in my view, you have to have over whelming evidence that fraud is being committed and the charity is not doing what it says so in its M&A's, also you may need to wait up to two years before they act.

 

Agree with this. The Teifi is a very small concern and the charity commission will have very little interest at all. They have much much bigger fish to fry and are far more involved in support being given to terrorist and extremist organisations. Expect no action whatsoever from the CC.

 

The Charity Commission as you predicted have done nothing. Companies House however are showing signs of being fed up with the misuse of the protection given by limited company status and have issued details of their new tough approach to those who do not comply by supplying documents. Offenders may be prosecuted and directors disqualified. CH website has full details of these new enforcement actions.
That would mean the end of the New Management of Nikki Cox and Ivor Macfadzean.

 

We can but hope...

 

Meanwhile they are open for Santa specials in a strange zombie-like existence - because if you ask Companies House about their status it tells you they are closed down for noncompliance. How long can this go on?

 

Probably a very long time ...

There was a builder up here in the North-East that did the close-it-down and re-open under a new name, with the same staff & premises etc - and usually the same directors as well ! for many iterations [I know of at least three, and the ****er still owes me several thousand pounds - I have a CCJ but that's been ignored as he "bankrupted" the company during the CCJ proceedings]

 

In the interests of accuracy, it doesn't actually say they're closed down, it says "Company status Active - Active proposal to strike off".
And when you click on the filing history tab you can see that this is all perfectly normal, nothing to worry about here, move along now...


I left the most recently appointed director on that screenshot intentionally as he's a well known preservation figure (and has been on the board of several heritage railways) and I'm frankly surprised he's continued to allow his name to be associated with such a complete shambles. But there it is.

3 years of accounts not filed... what are they hiding?

Edit: David Morgan appears to have resigned all of his other HR directorships so to cut the man some slack, maybe he's resigned this one as well and they just haven't got around to filing that yet, either...?

 

There is also a CCJ against the company as well. Outstanding so not paid.
"06/08/2024 CIVIL NATIONAL BUSINESS CENTRE £1,672
Judgment H0BP498Q"

 

In all fairness to the Teifi I've just been reading about the CNBC and they sound like an interesting organisation...

 

CNBC?

 

Try reading the post 2 before yours.

 

If someone from the CNBC took this on, I feel it could get very messy

 

The CNBC is the court that decided the claim. As the railway haven’t paid the claim (despite the court judgement) the CCJ is published (name and shame basically).

 

Isn't this where the bailiffs come in? For 1,672 pounds I am sure someone will pay it via a credit card.

 

The point is that it hasn't been paid. Judgement was made in early August by the court, so there has been ample time to pay and satisfy the CCJ. Bailiffs could be requested by the creditor (and may yet be), but it is not automatic. This is however another serious red flag indicating financial and corporate issues - all of which are readily avoidable! I wish the Teifi Railway all the best, but they do need to sort their corporate management out and will probably need a new board to achieve this now IMHO.

 

Pity there's such a long gap between Llanpumsaint and the start of the TVR trackbed! A Gwili-Teifi Railway could run SG to Pencader and NG onwards to Castell Newydd Emlyn!! Does anyone know if the c.10 mile gap between Llanpumsaint and Henllan is free from encroachment?