1 Legal and Administrative information
Custodial Trustees
David Milton
Michael J Beale
Dr Peter J C Trenchard
Jonathan Edwards
Trust Committee (Management Trustees)
Officers
Andrew W Naish (Chairman) - appointed 24 April 2004
Dr Peter E Cattermole (Chairman) - retired 24 April 2004
Graham Hooper (Secretary)
Edmund Melville (Treasurer)
Michael Gates (Museum Curator)
Members
Godfrey R Baker
Ian Briggs
Rosie Jacob
George Moon
Brian R J Smith
John M Smith
Ian M Young
Principal Location: The Railway Station, Washford, Watchet, Somerset. TA23 0PP
Bankers: HSBC, Loughton, Essex; NatWest, Midsomer Norton
Solicitors: Stephens & Scown, Exeter
Insurance Brokers: Griffin Commercial Insurance Brokers Ltd, Exeter
2 Status
The Somerset & Dorset Railway Trust (the Trust) is a Registered Charity number 265098. It is governed by a Constitution last amended by the Members of the Trust at The Annual General Meeting held on 24 April 2004 and which incorporated the amendment to Clause 5(A) in connection with membership cut-off date.Trustees are appointed and elected in accordance with the Constitution.
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 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 2004, the Trust Committee met formally on six occasions: 18 January, 13 March, 16 May, 17 July, 12 September and 07 November. The Senior Custodial Trustee attended the meetings held on 18 January, 13 March, 12 September and 07 November. Two additional Custodial Trustees attended the meeting held on 12 September and one additional Custodial Trustee attended the meeting held on 13 March. One Custodial Trustee attended the meetings held on 16 May and 17 July.
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 2004 (2003 numbers in parenthesis), there were 366 (376) Ordinary, 155 (177) Family, 223 (241) Senior, 1(1) Junior and 6 (6) Corporate Members, total 751 (801). The reduction in the number of family members continued to contribute to the rising age profile of the Members during 2004. This appears to be in common with other similar Societies / Trusts.
A recruitment exercise was undertaken with advertisements placed within The Steam Railway Magazine and this resulted in 13 Members being recruited.
An Information Pack for prospective Members has been developed and is now sent out in response to all enquiries.
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
Informal liaison took place during 2004 with 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 2004
a) MANAGEMENT CHANGES
Andrew Naish succeeded Dr Peter E Cattermole as Chairman at the Annual General Meeting.
b) PUBLICATIONS
The policy for the Trust's regular publications (journals) introduced in 2000 has continued during 2004. Both journals continue to appear at or close to their pre-announced publication dates, allowing for continuity of communication with Trust Members although editorial assistance has sometimes been necessary. The journals are simultaneously published as pdf files in the Members' area of the web-site, and thereby improving accessibility.
Pines Express - Bulletin of The Somerset and Dorset Railway Trust
Four successful and enjoyable editions were produced during 2004 due to the dedication of the editor and the supply of suitable articles by the membership with both leading to the production of a quality journal.
With the continued assistance of the membership, the success of Pines Express will be guaranteed.
Swift & Delightful - Newsletter
Two editions were published in 2004 and were generally well received. It is to be hoped the variety of contents will stimulate more members to contribute to this colourful and attractive magazine.
Other - Calendar and Christmas Card
The Trust did not publish a Calendar for 2005. A full-colour Christmas Card for 2004 was published. Plans are well advanced for publication during 2005 of a Calendar for 2006.
c) ELECTRONIC SERVICES
Website
In accordance with the Trust's policy of being an information provider of excellence about the S&D and railways through the medium of its web-site the introduction of a variety of new resource areas and facilities was continued. There is now over 100Mbyte of web-based material available devoted to aspects of the S&D and SDRT. Five years ago, the web-site was less than 1 Mbyte in size. On average over 850 MByte/month of information is transferred to users, although this rose to over 1GByte in October during a membership recruitment campaign. The high image content is appreciated by users as over 70% of the files downloaded are of images. 11% of visitors are seeking information about the Trust, and 10% of visitors look at the modelling pages. The quality and content of the web-site is dependent upon the contributions from members of the Trust. It is to be hoped that more Members will choose to contribute new material during 2005.
Online Membership and Sales
2004 has seen the continued expansion of the online shopping section which includes full Trust sales and regalia. Online membership and membership renewal is also continuing to expand and are thus working well.
Members Only
This section is continuing to expand as information is converted into electronic formats suitable for the internet. The rate of development depends entirely upon how much information is provided by members. Contributions have been sparse at times. S&D stations are continuing to be added to this section.
Members can gain ready access to the following areas:
There have been 300 postings covering a wide range of topics during the year. There are 65 members of the group.
News
Reports of Trust activities are posted on the web-site as soon at they become available and this involves frequent up-dates. Photographs are added where appropriate to illustrate news events. Web-site up-dates often involve the addition of alternative photography being added to the picture galleries.
Model Making
This has been represented with model pictures and articles provided by Trust members.
d) EXHIBITIONS, EVENTS, MEETINGS & PUBLICITY
Archives
The completion and checking of the catalogue of paper archives and drawings was completed during 2004. The catalogue now contains over 1200 paper archives and 800 drawings. The entries relate principally, but not exclusively, to the S&D.
During 2005, it is hoped to make the catalogue more accessible to the public through the Trust's web-site. Re-filing of some of the paper archives in conservation boxes remains to be carried out. Selected paper archives have been borrowed by members and used to form the basis of a number of articles in "The Pines Express". A few examples from the archives have been filmed and shown in commercial videotapes and DVDs released during 2004.
Outdoor Museum
A small number of volunteers have continued with making improvements to the outdoor museum displays at Washford. The Signal Platforms have been re-timbered, and the signals painted. Work is still required to complete fitting out of the unique example of an S&D 2-rail signal. It is hoped that the remaining signals can become working exhibits during 2005.
Additional track components have been acquired to enable the extension of the Peat Works Railway. It is intended The Management Trustees decide on a works programme for this to be completed during 2005.
A lack of volunteers has resulted in a mounting backlog of routine maintenance, especially with rolling stock. Some of the stock (PMV, CCT) has not been painted now for eight years, and is consequently deteriorating rapidly.
Photographic collection
Progress has further continued with sorting the photographs into albums organised into stations along the line. The photographs are also digitally scanned in order they may be viewed on computer. This has again progressed throughout the year. There are many requests for photographs throughout the year and where possible these are successfully dealt with. The Eric Rimmer photographic collection is now fully digitised and is available for viewing on computer. These photographs are of great interest to Members basing their models on the S&D.
Coach Restoration
S&DJR First Class No. 4:
S&DJR Third Class Coach No.114 (SR1423) Highbridge 1890
Generally:
The Wagon Team are in the process of establishing a wood machining facility above the shed extension which may speed progress with the foot-boards, roof and additional door frames during 2005.
Wells Brake-van, No. 9
The components remain in dry store at Washford. It is intended restoration work will commence in 2005.
S & D Locomotive, No. 88
The locomotive has further continued its greatly extended overhaul throughout 2004. The West Somerset Railway has given an estimated time of July 2005 for the completion of the overhaul and entering into service, the boiler recently having been re-united with the frame. The company began paying the Trust a monthly compensation fee during 2003. This fee has continued and will do so until the locomotive returns to steam. The Travel Warrants enabling Members to travel free on the West Somerset Railway will continue until one year after the return to steam of Locomotive 88. A meeting was held during January 2004 between The Trust (Chairman, Secretary and Treasurer) and the WSR plc to review progress and other items.
Mineral Wagon Project
The project was completed during the first half of 2004 and the high standard achieved is appreciated by all visitors to Washford.
Great Western 55XX 2-6-2T Locomotive - 5542
The Trust has been pleased to continue to host this fine locomotive at Washford. Volunteers of Locomotive 5542 Ltd (a corporate member of the Trust) continue to enrich the visitor attractions at Washford by their presence and practical assistance.
Isabel 0-6-0ST
This locomotive was purchased by a small group of Trust members and used to haul trains on the S&D during the time that the Trust's museum was based at Radstock. She has been out of use in store at Washford for thirty years. Isabel has recently become solely owned by one of the original group, who is still a regular and energetic volunteer at Washford. During 2004, work was recommenced on the boiler with the aim of completion of the overhaul and a return to steam in the spring of 2005. The Trust has no financial involvement in the work.
8 Plans for the Future
The reduction in the number of active volunteers has continued although the Trust has managed to fulfil most of the usual and time-honoured events in conjunction with the West Somerset Railway and will endeavour to continue this during 2005. However, some activities have been reviewed in conjunction with the railway and which has resulted in some of these being undertaken by them.
The Trust is obliged to give consideration to the requirements of the Disability Discrimination Act where it is reasonable to do so. Whilst this is not a core activity of The Trust, consideration is being given to improving access to the station platform at Washford and for the provision of disabled persons toilet facilities.
The Trust can only continue to develop and plan in areas not consuming much volunteer input although the expected return to steam of Locomotive No 88 during 2005 may provide considerable stimulus in the provision of volunteers.
9 Fund Raising and the work of volunteers
a) FUND RAISING
The 200 Club further continued to donate a welcome sum through its fund-raising as did the 2004 Annual Raffle.
The encouragement of provision of donations under the Gift Aid Scheme is continuing although the further reduction in membership numbers and apparent reluctance of new Members to sign the Gift Aid Forms has resulted in a considerable reduction in the amount which The Trust can reclaim from the Inland Revenue.
b) PROMOTIONAL SALES
The central sales operation based at Washford and the Sales Stand at exhibitions and at the Staff Reunion resulted in total sales approximately £5490. Tight budgetary controls on purchases and stock levels are still maintained.
It was not a particularly busy year for Postal Sales due mainly to The Trust not producing a Calendar for 2005 and with the consequent related sales of Christmas Cards being reduced. However, The Burnham Branch Video sold well and thus 212 orders were received, 50 of which have arrived via the web-site. Sales through this source exceeded £3400 in total.
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 the long-term and specialised nature of conservation and restoration work of the Museum rolling stock (especially the S&D carriages, Wells Brake-van, and locomotives) justifies the level of reserves currently maintained in order to facilitate progress when suitable skills are available. The Trustees recognise that reserves will require 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. Some of the Trustees have investment experience and the Trustees do not consider it necessary to appoint an investment adviser. During 2004, all existing investments remained on deposit with diversified institutions to which Section 67 of the Banking Act applied.
(c) GRANT-MAKING AND 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 2004. The monetary educational prize in memory of the late Michael J Palmer was not awarded in 2004.
11. Risk Analysis
The Trustees are always mindful of the major risks to which the charity is exposed. At most meetings of the Management Trustees, time is given to 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 aware of the still continuing increases in insurance premiums. These increases are outside the control of the Trustees. Only limited action such as reductions due to the reduced number of volunteers at Washford and discount for customer loyalty has proved possible in order to reduce the financial burden on the resources of the Trust.
If premiums continue to rise out of proportion to the Trust's income, the railway operations at Washford which consume a significant amount of the premium will have to be reviewed.
The Management Trustees still intend to take advantage of the proposed legislation to convert the Trust to a Charitable Incorporated Organisation when the proposed legislation is in place although this may be a substantial length of time. Members of the Trust will be consulted on the proposed change when legislation is in place. In the interim the Management Trustees are intending to investigate the incorporation of The Management Committee or alternatively investigate the conversion of The Trust into a company limited by guarantee with charitable status.
All the Trustees are concerned to note that the level of volunteer activity has continued to decline to below the level at which the Trust can maintain several of its key activities. More, youthful and active Members are required give practical support.
This Report and the Annual Accounts (available from the Secretary) were approved by the Management Trustees at a duly convened meeting held on Saturday 05 March 2005
Signed:
Andrew W Naish (Chairman )