1. Legal and Administrative information

Custodial Trustees

P D Falla [resigned 21.4.01] M J Beale

D Milton J Edwards Dr P J C Trenchard [appt. 21.4.01]

Trust Committee (Management Trustees)

Officers Dr P E Cattermole (Chairman) M Gates (Museum Curator)

I M Young (Secretary) M Lewis(Treasurer) [resigned 28.6.01]

Members G R Baker R W Pitman

G Hooper B R J Smith

Mrs R Jacob J M Smith J Lock

Principal Location The Railway Station Washford Watchet Somerset TA23 0PP

Bankers HSBC, Loughton; NatWest, Midsomer Norton

Solicitors Stephens & Scown, Exeter

Hon Curatorial Adviser D Dawson, Somerset County Museum Service

Insurance Brokers Griffin Commercial, Exeter

2 Status

The Somerset & Dorset Railway Trust (the Trust ) is a Registered Charity number 265098. It is governed by a Constitution which was last amended by the members of the Trust in General Meeting on 21 April 2000. Trustees are appointed and elected in accordance with the Constitution. The Trust is a Registered Museum, No. 851.

3 Organisation, Management and Decision-Making Structure

The property of the Trust is held by the Custodial Trustees in trust for the Trust in accordance with Clause 6J of the Constitution. The management of the Trust is vested in the Trust Committee which is responsible for the administration of the Trust affairs and for the general policy of the Trust in accordance with Clause 3B of the Constitution. During 2001, the Trust Committee met formally on six occasions: 14 January, 18 March, 13 May, 7 July, 9 September and 4 November. Two Custodial Trustees and the Curatorial Adviser attended the meeting of 18 March and the Senior Custodial Trustee attended the meeting of 4 November.

Approximately one week in advance of every meeting, all Trustees are sent an agenda and other papers for the meeting. Responses to matters arising are made in writing. At the meeting, any Trustee may speak, but decisions are made by majority vote. Implementation of the decision is usually assigned to an individual, with a duty to report at a future meeting. Sub-committees are set up to report to the Trust Committee on more complex matters.

4 Membership

As at 1 August 2001 ( 2000 numbers in parenthesis ), there were 400( 417 ) Ordinary, 208( 210 ) Family, 206( 180 ) Senior, 1( 1 ) Junior and 7( 7 ) Corporate Members, total 840( 833 ). 71 Members had joined since 1 August 2000. The increase in number of Senior members seen in previous years was repeated with the number of Ordinary & Family members falling by 19 in the year, whilst the number of senior members had increased by 26.

5 Objects

The Objects of the Trust are for the public benefit as defined in its Constitution.

A To form and maintain a museum for the exhibition of items of historic interest formerly belonging to old railways and in particular, but not exclusively, the Somerset and Dorset Joint Railway, including signs, signals, posters, records and books, photographs, machinery, models, rolling stock, locomotives and buildings, such museum to be open to the public.

B To educate the general public in old railways railway history and in particular, but not exclusively, the Somerset and Dorset Joint Railway and to show how these railways affected the industry of the area.

6 Co-operation with other charities and related parties

Liaison meetings and contacts, formal and informal, took place during 2001 with the Somerset & Dorset Railway Heritage Trust (Reg. No.1045547) and the West Somerset Railway Association (Reg. No. 1041901). There are no relationships between the Trust and related parties that fall within the requirements for disclosure under Charity SORP 2000.

7 Review of Activities in 2001

a) Management changes

During 2001, it has continued to prove difficult to spread the workload of managing the Trust equally amongst the small number of volunteer members who act as Trustees. The Trustees noted with regret the resignation of the Treasurer, Murray Lewis in June. The Management Trustees decided that the treasury activities would be shared between the remaining three Officers until a suitable nominee had been found for election to the post at the 2002 AGM. However, by the end of 2001 no nominee had been found.

The Trustees have noted that the tightening of financial regulation of banking activities has placed a significant additional burden on operating the Trust's accounts effectively.

b) Publications

The policy for the Trust's regular publications (journals) which was introduced in 2000 has been consolidated during 2001 and strengthened by the appointment of a new Editor for Pines Express, Bulletin of the SDRT . Both journals have appeared on or slightly before pre-announced publications dates throughout 2001.

Pines Express Bulletin

John Wakeman volunteered to take as Editor of Pines Express at AGM in April 2001, taking over from the Chairman who had been Acting Editor up to that time. All effort has been made to maintain the high standards for content and presentation set by previous Editors. This has been achieved, despite initial teething problems with a new print house, as many kind words and letters of congratulations bear witness. It is not easy to understand the pressures of meeting a print deadline until you are actively involved in producing a publication.

The aim of Pines Express is to provide members with data, historical facts, opinions and well-researched articles on the former Somerset and Dorset Railways. In addition to an issue of miscellaneous articles, three themed issues have been published: Saloons and Service Vehicles (compiled electronically in Australia), Stations Cole to Evercreech ; Locomotives. The thematic approach has generally been well-received and allows successive Editors to encourage members and others to write in-depth articles well ahead of publication deadlines. Good use has been made of the Trust's photographic archives. The Trust's electronic newsgroup has been a useful source of other items of historical interest.

The subject of contributions for publication is uppermost on the mind of any editor. There has been a steady flow of articles, news and information for inclusion in the Bulletin . However, to publish four issues yearly and maintain a magazine of this quality, the Editor is reliant upon members of the Trust providing contributions, no matter how large or small. So the message to members is to keep on writing.

Swift & Delightful Newsletter

Two editions of this publication for members were issued in 2001. The Chairman has remained Acting Editor, in the absence of another volunteer. The Newsletter , often in conjunction with the Trust's website, provides members with up-to-date information about Trust activities, current awareness of matters relating to the S&D railway, book reviews and other items of interest. Members are able to exchange information or raise queries generating discussion. Recent articles have featured links with other S&D-related groups. A good proportion of the Newsletter is in colour. Swift & Delightful No. 3, published in Spring 2001, was placed 8 = in the Heritage Railway Association/ Steam Heritage national competition, and won praise for its colour reproduction and content.

Other

The Trust published its annual calendar containing historical views. Sales of existing publications continued well, and were augmented by the publication of Chris Handley's Maritime Activities of the S&DR in which the Trust had collaborated. Late in 2001, the Trust made available a number of archival reprints available from its extensive collection of Working Time Tables.

c) Electronic services

The Photographic Curator has continued to make good progress with the re-cataloguing and extending of the photographic collection. Selected scanned images are now available. Work has continued throughout 2001 on transferring information from the Highbridge Registers to an electronic database.

During 2001, the Trust's new volunteer webmaster, Chris Nevard, has reworked, enhanced and extended its website to a new domain http://www.sdrt.org.uk Several new members have been recruited through the website. By the end of the year, the website was attracting over a hundred visits a week from S&D fans.

The website features the following:

 Membership form and information (used by several new members)  Trust sales

 Latest news on the Trust's goings-on at Washford  Frequently updated events calendar  Museum details

 Contact information

 Photograph gallery

 Modelling gallery (of the S&D variety!)

The electronic discussion group (open to members and invitees only) SDJR@yahoogroups.com has 45 (2000:18) members. There have been 328 (2000:107) postings during the year. The level of activity has increased substantially, as has the range of topics discussed. It is felt that members and the Trust generally have derived considerable benefit from the use of the electronic forum. Useful cross-postings are made with the independent public discussion group SDJR-elist .

d) Exhibitions, Events, Meetings and Publicity

The twenty-third Annual Model Railway Display, held at Edington, was very well attended and a pleasing return was made to boost the income of the Trust. This year an attempt was made to involve members of the Trust whether they be members of a club or working on their own with S & D layouts to display at Edington. This proved encouraging and paves the way for future events. Members should remember that this is their event and gives the public a chance to view the outcome of the Members' hobby.

The Burnham-on-Sea tourist information centre had a trust-sponsored S&D stand and information display in its shop all through the year. The Trust was highly visible with a selection of Trust items on sale. It was excellent publicity for the Trust and the tourist centre.

A special train organised by the Trust under the 2-8-0 Hire Agreement ran on the West Somerset Railway on 16 June. A good loading of passengers enjoyed the return trip to Minehead. An increased profit was made for the Trust to utilise in furthering its charitable objects.

The HTV six-part series on Lost Railways was shown regionally to a significant audience. The series focused on the links of the SCR and S&DJR with the the industries of Somerset and was shown on regional television in the Spring of 2001. The Trust was pleased to participate extensively in the programmes. Educational meetings have been held on a regular basis by a number of Area Groups of the Trust. These meetings took a variety of forms including illustrated talks on railways, exhibitions of memorabilia. All these activities require many volunteers if they are to be to staged successfully. May we thank them all and ask that others will be so willing in the future to make themselves available to keep these very important events part of the Trust's calender.

e) Washford Museum

The Museum had a satisfactory year despite the various crises which beset the tourist industry in West Somerset during 2001. There were more visitors and sales even though the museum was open on fewer days than 2000 owing to a lack of volunteers. As well as the two main WSR Galas, the Friends of Thomas weekend benefited Washford as Percy shunted the Troublesome Trucks there rather than at Minehead. For this event the Ruston diesel was painted orange and named Rusty and a wagon lettered out as S.C. Ruffey Sodor . Again, a lack of volunteers during the weekend meant that the Trust's resources were significantly overstretched.

Several other wagons were repainted during the year and the LSWR Road Van restoration was completed. A demonstration freight train ran successfully in early March and was well-publicised in the Swift & Delightful and on the website.

The arrival of GWR Locomotive 5542 at Washford during the first few weeks of 2001 began the first period that the locomotive had resided in covered secure accommodation. Volunteers from Locomotive 5542 Ltd relished this opportunity to work in such ideal surroundings, resulting in up to ten workers on a number of occasions. Work has progressed steadily but has been delayed on a couple of occasions due to circumstances beyond the company's control. However with boiler, tanks, bunker and cab all now reassembled, much of the lifting done by the S&D steam crane, work now continues apace. The first test steamings are now planned for early in 2002.

The Chairman of Locomotive 5542 Ltd writes of their pleasure in having been made so welcome at Washford and are very happy with the way things have progressed. He looks forward to a long and fruitful relationship with the SDRT and continue to cement the relationship, not least by way of the contract repair work to the boiler of Peckett locomotive Kilmersdon/Mike Palmer . The Management Committee of the Trust feels it has been fortunate in securing such amiable co-operation which has added to the visitor attraction at Washford

Work has continued on completing the location index of the Museum Catalogue. Very few acquisitions have been made. Members are encouraged to contact the Museum Curator in 2002 if they have items they wish to dispose of by gift, loan, purchase or bequest. Older members may wish to consider securing a proper future for objects from the old railway by making a specific bequest in their will. Such a bequest to the Trust will normally be free of inheritance tax. Details may be obtained from the Chairman or Secretary.

Coach Restoration

Work on refurbishing and refitting doors to Coach No. 4 was let to contract in the Spring of 2001. The work proved unsatisfactory and expensive and the contractor was laid off. No new volunteers for the work have been forthcoming, which has been most disappointing in view of the historical importance of this and the other coaches in the Trust's care.

Wells Brakevan, No. 9

The sole-survivor of S&D Goods Rolling Stock was rescued from a field near Highbridge in Spring 2000 and allowed to dry out. It was subsequently moved to the shed at Washford in the Autumn of 2001.

S & D Locomotive, No. 88

This locomotive was due to return to traffic on or before 30 April 2000 under the Repair and Hire Agreements between the Trust and the West Somerset Railway plc. The repairs were not carried out by the due date. During 2001, the Management Committee, in conjunction with its Solicitors, has taken further steps to ensure that the WSR plc would fulfil its contractual obligations and safeguard the interests and resources of the Trust. The outcome, which resulted in a further significant compensation payment to the Trust, was reported to the Members in the Autumn. It is now expected that the locomotive will steam in the first half of 2003. The delay in steaming this exhibit was proving to be a drain on the management time of Trust Officers, and it is hoped that the recent settlement with the WSR plc will enable Trust Officers to concentrate their efforts more effectively on matters of greater immediate benefit to the furthering the Trust's Objects.

Mineral wagon

The reconstruction of LMS Mineral Wagon 607324 has proceeded well. A new oak underframe has been fabricated by a small team of volunteers working in the shed extension at Washford. By year end, the last two diagonals were about to be fitted, with new springs ready for delivery in January. It was expected that the new frame would be reunited with the wheels by Easter 2002, and the project completed by the end of 2002.

8 Plans for the Future

It is expected that in the early Spring of 2002, planning and other consents will be sought for the construction of a building to house the S&D Coaches at Washford, with a contract to be placed during 2002. The building will be funded from the Trust's existing resources. Grant-aid will then be sought for conservation and restoration work on the coaches. The building will also be used to display other larger objects such as the Binegar Crane.

It is expected that work to conserve the Wells No 9 brakevan will be placed during 2002.

Plans are being made for celebrations in 2003 for the return to steam of Locomotive No. 88 and for the 150th anniversary of the opening of the SCR in 2004.

Consideration is being given to sources of funding for an extension to the Museum and construction of a purpose-built archives and study room on land owned by the Trustees at Washford.

9 Fund Raising and the work of volunteers

Fund Raising

In addition to the events on the West Somerset Railway, the 200 Club donated £888 through its fund-raising efforts. The Annual Raffle generated a profit, and also attracted a good number of additional donations. However, the overall profit from fund-raising events declined in 2001.

Many members are now making donations by Gift Aid , a method of giving which results in additional revenue to the Trust through the reclaiming of tax paid.

Promotional Sales

The second-hand outlet Collectors' Corner continues to generate useful income from the sale of donated items. Good quality books for resale are particularly welcome.

10. Policy Statements

(a) Reserves

The Reserves of the Trust are the resources from income it has or can make available to spend at the Trustees' discretion in furtherance of the Trust's Objects once it has met its commitments and covered its planned expenditure. The Trustees direct that sums are to be held as reserves when it is their considered view that it is in the charity's best interest to do so. A review is made at least annually, normally at the time of the Budget meeting, and at other times as the Trustees consider prudent. The Trustees consider that the long-term and specialised nature of conservation and restoration work of the Museum rolling stock (especially the S&D carriages and building, Wells Brakevan, and locomotives) justifies the level of reserves currently maintained in order to facilitate progress when suitable skills become available. The Trustees recognise that reserves will need to be maintained at the current level and enhanced by further fund-raising if future plans to improve the housing and display of archives, rolling stock and museum items are to be realised.

(b) Investments

Investments are made in accordance with CC14. Several of the Trustees have wide investment experience and the Trustees do not consider it necessary to appoint an investment adviser. During 2001, all investments have been placed on deposit with diversified institutions to which Section 67 of the Banking Act applied.

(c) Grant-making & prizes

Grants are only made in exceptional circumstances in furtherance of the Charity's Objects, and will not be in total in excess of 5% of annual resources expended. They will only be awarded after due consideration by the Management Trustees. No grants were made in 2001. A monetary educational prize in memory of the late MJ Palmer was offered to schools in the Autumn of 2001, and will be awarded (subject to entries) in 2002.

11. Risk Analysis

The Trustees have conducted an analysis of the major risks to which the charity is exposed. At each meeting of the Management Trustees, time is given to a review of the risks associated with the operations at Washford. Close liaison is maintained with the West Somerset Railway plc, the Heritage Railway Association and the Trust's Insurance Companies and Brokers. Officers of the Trust maintain procedures to control financial risks, and report to the Management Trustees. The Trustees are concerned to note that the level of volunteer activity has declined significantly and that all essential activities of the Trust have become key-person dependent. The poor response of members to all appeals for practical help poses an increasingly large single risk for the furtherance of the Trust's Objects.

This Report and the Annual Accounts which appear on pages A1a to A3a following were approved by the Management Trustees at a duly convened meeting held on Sunday 17 March 2001

Signed P E Cattermole Chairman