If you register, you can do a lot more. And become an active part of our growing community. You'll have access to hidden forums, and enjoy the ability of replying and starting conversations.

West Somerset Railway General Discussion

Discussion in 'Heritage Railways & Centres in the UK' started by gwr4090, Nov 15, 2007.

  1. Big Al

    Big Al Nat Pres stalwart Staff Member Moderator

    Joined:
    May 30, 2009
    Messages:
    21,261
    Likes Received:
    21,129
    Location:
    1016
    Heritage Railway Volunteer:
    No I do not currently volunteer
    Why so long? I can't get my head around why there was so much of a hurry to get the previous tenants out for the site to remain empty without any concrete plans for its future use and without any future income.

    Makes no business sense to me.
     
  2. Paulthehitch

    Paulthehitch Well-Known Member

    Joined:
    Feb 13, 2020
    Messages:
    1,090
    Likes Received:
    1,093
    Gender:
    Male
    Location:
    Hayling Island
    Heritage Railway Volunteer:
    Yes I am an active volunteer
    Quelle surprise!
     
  3. martin1656

    martin1656 Nat Pres stalwart Friend

    Joined:
    Dec 8, 2014
    Messages:
    17,749
    Likes Received:
    11,342
    Gender:
    Male
    Location:
    St Leonards
    Heritage Railway Volunteer:
    No I do not currently volunteer
    But wasn't everything rosy in the garden, or was that just meant to placate the adoring masses, so a deficit of £316,442, of which £105,000 could be put down to legal costs for removing people you don't agree with, was it worth it?? when your own finances are not that strong, As regards Washford, yard, I have for a long time thought that was more to do with an pro GWR bias within some senior people at the WSR, who never accepted having the S&DRMT on site, and once JJP became chairman, they had someone they could manipulate into doing what they never were able to.
     
  4. Paulthehitch

    Paulthehitch Well-Known Member

    Joined:
    Feb 13, 2020
    Messages:
    1,090
    Likes Received:
    1,093
    Gender:
    Male
    Location:
    Hayling Island
    Heritage Railway Volunteer:
    Yes I am an active volunteer
    I know I am a cynic about the loss making potential of unduly long tourist lines but 2021 was a very lucrative year in some places and those who could not break even will face greater difficulty in future
     
    Spitfire likes this.
  5. Big Al

    Big Al Nat Pres stalwart Staff Member Moderator

    Joined:
    May 30, 2009
    Messages:
    21,261
    Likes Received:
    21,129
    Location:
    1016
    Heritage Railway Volunteer:
    No I do not currently volunteer
    Probably true but even if not, it's their railway to do as they wish. In the process they have retained the friends they already had - lucky for them - and lost a large chunk of everyone else, that I guess was seen as collateral damage.

    It will be interesting to see the future use of Washford and how it adds to what they once had.
     
  6. 35B

    35B Nat Pres stalwart

    Joined:
    Jun 18, 2011
    Messages:
    25,843
    Likes Received:
    24,530
    Gender:
    Male
    Location:
    Grantham
    Heritage Railway Volunteer:
    No I do not currently volunteer
    Indeed. But if you strip out the £105k of legal costs from those numbers (and I don't have sight of the report), that makes a big difference to the operating loss. As ever, the difference is between what a layman would regard as opertaing costs, and the accounting treatment which will include activities that are part of the business but not directly related to day to day operations.
     
  7. ghost

    ghost Part of the furniture

    Joined:
    May 29, 2006
    Messages:
    4,022
    Likes Received:
    5,177
    Gender:
    Male
    Location:
    N.Ireland
    Heritage Railway Volunteer:
    Yes I am an active volunteer
    It would still be £211k - a pretty sizeable chunk of money, especially when you add it to the last few years losses
     
    Paulthehitch likes this.
  8. 35B

    35B Nat Pres stalwart

    Joined:
    Jun 18, 2011
    Messages:
    25,843
    Likes Received:
    24,530
    Gender:
    Male
    Location:
    Grantham
    Heritage Railway Volunteer:
    No I do not currently volunteer
    Indeed. But what I didn't say very well is that there may also be other "one off" costs that would affect the interpretation of those numbers. I'd also want to check back (and can't be bothered to do the search here!) as to when they operated fully in 2021 - it was a short year, and I suspect fixed costs weighed relatively heavily.

    However, all of the above is of limited relevance given the general tendency for the railway to oscillate randomly from "we're about to go broke" to "everything's fine" in the public presentation of their position.
     
    MellishR likes this.
  9. The Dainton Banker

    The Dainton Banker Well-Known Member

    Joined:
    Jul 20, 2014
    Messages:
    1,739
    Likes Received:
    3,211
    Gender:
    Male
    Location:
    Over the hills and far away
    Heritage Railway Volunteer:
    No I do not currently volunteer
    Fair enough if you only want to look at the actual profit or loss of operating but there are a number other expenses and, perhaps, income that need to be taken into account to see what the real financial position is. No great value in making a hefty surplus on running trains if you are paying out large amounts elsewhere, whether in legal expenses, interest payments, rents or whatever. The money has to come from somewhere !
    How would you lay out the accounts ?

    (Edit)
    An additional observation : the movement in Equity (the balance of Assets and Liabilities) since the previous year will indicate which way things are going.
     
    Last edited: Sep 2, 2022
    35B likes this.
  10. Paulthehitch

    Paulthehitch Well-Known Member

    Joined:
    Feb 13, 2020
    Messages:
    1,090
    Likes Received:
    1,093
    Gender:
    Male
    Location:
    Hayling Island
    Heritage Railway Volunteer:
    Yes I am an active volunteer
    Absolutely so. However, once the season got going, there was a great deal of business. One line had its most lucrative year ever
     
  11. 35B

    35B Nat Pres stalwart

    Joined:
    Jun 18, 2011
    Messages:
    25,843
    Likes Received:
    24,530
    Gender:
    Male
    Location:
    Grantham
    Heritage Railway Volunteer:
    No I do not currently volunteer
    Completely agreed - and you'll be aware I'm no fan of the plc in its current form. But important as year end results are, results distorted by one off items give a poor insight into the underlying business.
     
  12. Bayard

    Bayard Well-Known Member

    Joined:
    Apr 26, 2015
    Messages:
    1,826
    Likes Received:
    3,871
    Gender:
    Male
    Heritage Railway Volunteer:
    No I do not currently volunteer
    If that is the case, then it was certainly not money well spent. £96K translates into a hell of a lot of passengers who would have to have been put off by not being able to terminate in Minehead. Does anyone know what the average profit per passenger is?
    I wonder whose coaches they were hiring?
     
  13. 6960 Raveningham Hall

    6960 Raveningham Hall Member Friend

    Joined:
    Mar 23, 2016
    Messages:
    726
    Likes Received:
    1,039
    Gender:
    Male
    Occupation:
    Retired.
    Location:
    Near St. Austell, Cornwall.
    Heritage Railway Volunteer:
    No I do not currently volunteer
    You know perfectly well whose buses they were. If I was supplying a fleet of vintage road vehicles which are normally based some distance away in Weston-Super-Mare, for several weeks, along with drivers and other support staff, I would certainly charge.
     
    Greenway and 35B like this.
  14. gwilialan

    gwilialan Well-Known Member

    Joined:
    Dec 8, 2012
    Messages:
    1,677
    Likes Received:
    3,960
    Gender:
    Male
    Location:
    Out there somewhere
    Heritage Railway Volunteer:
    Yes I am an active volunteer
    Oops, call me Mr Silly too. I was thinking Coaches = Mk1's? Mk2's? 4 Wheelers? Duh! :Bag: :)
     
  15. Sidmouth

    Sidmouth Resident of Nat Pres Staff Member Moderator

    Joined:
    Sep 12, 2005
    Messages:
    9,697
    Likes Received:
    8,476
    Gender:
    Male
    Location:
    Alderan !
    Heritage Railway Volunteer:
    Yes I am an active volunteer
    or 9351's visit is reciprocal for both 2857 and 75069 previously
     
  16. Matt37401

    Matt37401 Nat Pres stalwart

    Joined:
    Jun 8, 2014
    Messages:
    15,509
    Likes Received:
    11,859
    Location:
    Your mum
    Heritage Railway Volunteer:
    No I do not currently volunteer
    To be fair Martin that thought did cross my mind earlier today.
     
  17. Robin Moira White

    Robin Moira White Resident of Nat Pres

    Joined:
    Apr 27, 2014
    Messages:
    11,250
    Likes Received:
    17,962
    Gender:
    Female
    Occupation:
    Barrister
    Location:
    Stogumber
    Heritage Railway Volunteer:
    Yes I am an active volunteer
    If the WSR is to survive, it needs a new structure, new ideas, new attitudes and new Directors.
    The water is cold, the iceberg approaches, the rudder is small, but the binoculars were left behind some time ago.
     
    sitimela43, maddog, MellishR and 4 others like this.
  18. johnofwessex

    johnofwessex Resident of Nat Pres

    Joined:
    Apr 6, 2015
    Messages:
    9,253
    Likes Received:
    7,293
    Gender:
    Male
    Occupation:
    Thorn in my managers side
    Location:
    72
    Heritage Railway Volunteer:
    No I do not currently volunteer
    The binoculars were not left behind, the key to the locker was taken by an officer who left.

    I visited the railway a few weeks ago, clearly Covid may help to explain some things but the lineside wasnt to the old standard and there were a number of 10mph TSR's
     
    35B, green five and Swan Age like this.
  19. The Dainton Banker

    The Dainton Banker Well-Known Member

    Joined:
    Jul 20, 2014
    Messages:
    1,739
    Likes Received:
    3,211
    Gender:
    Male
    Location:
    Over the hills and far away
    Heritage Railway Volunteer:
    No I do not currently volunteer
    A look at the accounts for the last three years or so will show the trends. Any "one off" items then stand out (and will have been high-lighted by the auditors). Standard practice when reading accounts.
    I do hope you are correct in terming the legal expense for last year as a "one-off". Far too much money has been wasted in the unnecessary defence of egos around the WSR over the past few years.
     
    MellishR and 35B like this.
  20. Joanne Crompton

    Joanne Crompton New Member

    Joined:
    Jan 17, 2013
    Messages:
    14
    Likes Received:
    177
    Gender:
    Female
    Location:
    Darwen
    Heritage Railway Volunteer:
    Yes I am an active volunteer
    Sadly this.could be applied to many other heritage railways across the UK Robin..weak leadership, short sightedness and ego massaging will cripple many HRs as time goes on

    Sent from my SM-G975F using Tapatalk
     

Share This Page