THE SOMERSET & DORSET RAILWAY TRUST

TRUSTEES' ANNUAL REPORT FOR 2005

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)

Graham Hooper - (Secretary)

Edward H Goater - (Treasurer) - appointed 23 April 2005

Edmund J Melville - (Treasurer) - retired 23 April 2005

Michael Gates - (Museum Curator)

Members

Godfrey R Baker

Ian N Briggs

Rosemary Jacob

George M 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 2005, the Trust Management Committee met formally on six occasions: 16 January, 05 March, 15 May, 17 July, 10 September and 12 November. The Senior Custodial Trustee attended the meetings held on 16 January and 15 May. One additional Custodial Trustee attended the meetings held on 16 January and 15 May.

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 2005 (2004 numbers in parenthesis), there were 320 (366) Ordinary, 165 (155) Family, 235 (223) Senior, 0(1) Junior and 6 (6) Corporate Members, Total 726 (751).

The reduction in Ordinary members was due to two principal factors:

• The rising age profile of the membership
• A total of 46 members not renewing for 2005.

As in 2004, a series of recruitment advertisements was placed in Steam Railway magazine during the autumn period. Regrettably, these were not as successful as previous advertisements as only 5 new members were recruited. An additional advertisement was placed within the January 2006 edition of the same magazine published during the currency of this Report as this edition was concentrating on a commemoration of the Somerset & Dorset Railway.

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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 2005 with the West Somerset Railway Association (Reg. No. 1041901) - see Item 7(e) below. There are no relationships between the Trust and related parties that fall within the requirements for disclosure under Charity SORP 2005.

7 Review of Activities in 2005

a) MANAGEMENT CHANGES: Edward Goater succeeded Edmund Melville as Treasurer at the Annual General Meeting.

b) PUBLICATIONS: The policy for the Trust's regular publications (journals) introduced in 2000 has continued during 2005. Both journals continue to appear at or close to their pre-announced publication dates, allowing for continuity of communication with Trust Members. The journals are simultaneously still 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 2005 due to the dedication of the editor and the supply of suitable articles by the membership. The result was the production of a quality journal the highlight of which was the publication of edition number 239 in December which celebrated 40 years of The Trust (formerly known as The Somerset & Dorset Circle). The front cover of this edition also celebrated the return to steam of The Trust's locomotive number 53808. This publication is made available for the public and is distributed to libraries and to all Members and well-wishers.

With the continued assistance of the membership, the success of Pines Express will be guaranteed.

Swift & Delightful - Newsletter

Two editions were published in 2005. These colourful and attractive magazines were generally well received. This publication is circulated to Members only.

Other - Calendar and Christmas Card

The Trust published a Calendar for 2006 together with a black & white Christmas Card for 2005. Plans are well advanced for publication during 2006 of a Calendar for 2007.

c) ELECTRONIC SERVICES: Website

The Trust's website is a major external showcase for the Trust. Increasing interest in the web-based activities of the Trust meant that a server upgrade was necessary at the beginning of the year. In some months of 2005, over 1.6GB of information has been transferred. Until the autumn, the average number of hits per day was 5700, but once news started to appear in the Autumn about Locomotive No. 88, the number of daily hits doubled. Events concerning the locomotive have been posted on the website generally within a few hours of them happening. Images of the Trust's engine from a variety of sources (including non-members) have also appeared very swiftly, to the apparent delight of the public and the press. Those visiting the site appear to have considerable interest in images: 75% of downloads are of

images. 9% of requests refer to the modelling pages. The preferred method of communication between active Trust Members is now by email where face-to-face contact is not practical.

Online Membership and Sales

2005 has seen the further expansion of the online shopping section which includes full Trust sales and regalia. Online membership and membership renewal is still continuing to expand and is thus continuing to working well.

Members Only

This section has further expanded as information is converted into electronic formats suitable for the internet.

Members can gain ready access to the following areas:

• Pines Express Bulletin back issues to download

• Swift & Delightful Newsletter back issues to download

• Museum Library Catalogue

• Museum Catalogue Abstracts

• Information about Stations

• Information about Signalling

• Life on the S&D (memoirs and anecdotes).

Internet Discussion Group:

The electronic discussion group, SDJR@yahoogroups.com, continues to thrive.

The 73 members of the group contributed nearly 500 postings during the year (300 in 2004). A wide range of topics were discussed and information on various S&D topics and the work of the Trust exchanged.

News

Reports of Trust activities are posted on the web-site as soon at they become available and this involves frequent up-dates. Web-site up-dates often involve the addition of alternative photography being added to the picture galleries to illustrate news events.

Model Making

This has again been represented with model pictures and articles provided by Trust members.

d) EXHIBITIONS, EVENTS, MEETINGS & PUBLICITY:

• Model Railway Display: The thirty first Annual Model Railway Display was held at Edington Village Hall in January. The aim is not only to raise funds for The Trust but also to give publicity to our "Modelling Mermbers" and share their skills and enthusiasm. Many Trust Members and members of the public again attended and were able to enjoy a large number of exhibits based upon The Somerset & Dorset Railway. In addition there were experienced modelers and trade stands available to answer a wide range of questions. The Display generated substantial funds.

• The Members' Weekend held in September was not as successful as previous years due mainly to a locomotive in light steam not being available for exhibition at Washford. However, Members were able to operate "Midford Signal Box" and were treated to a recently restored Isabel (referred to elsewhere in this Report) and the Trust's recently acquired model 2P locomotive on display.

• Special Train: The steam hauled trip on The West Somerset Railway in June was well supported by both Members and the public. The trip was considered a success not only by the income generated but also by the enhancement of The Trust's public profile.

• Thomas Day: Over the first weekend of July, the Trust's sidings were again used to provide experience of Thomas & friends. Shunting demonstrations for the public took place using a locomotive in disguise as Percy together with the Trust's wagon fleet disguised as The Troublesome Trucks.

• The Trust has continued to assist the Developers (Housing Development) of the site of the Highbridge Works with the provision of railway artifacts including a plaque to include within a Railway Feature commemorating the former presence of The Somerset & Dorset Railway at the site. This development is now complete although it was disappointing that a joint event to publicise this together with the significance of the site failed to materialise.

• Educational meetings have still been held on a regular basis by the Area Groups of the Trust together with similar meetings with other bodies such as WEAs where the Trust provides the volunteer speaker. Illustrated talks still formed the basis of these meetings.

• Generally: Planning and managing events requires input from many of volunteers and thanks are due to those involved.

e) WASHFORD MUSEUM

The Museum was open for 142 days during 2005. The number of volunteers who staffed the Museum and shop was 26.

The total number of admissions to the Museum was 1846 persons and the entrance fees accruing from admissions are indicated within the Annual Accounts.

Archives

Improvements have been made in the storage of the archives within the Archives Room at Washford. Members were reminded of the extent and use of the archives in Swift & Delightful No. 12. However,

use of the archives by Trust members and the public remains very low.

Over the summer, considerable work took place in refurbishing the working signalling display at Washford. The mechanical signalling frame emulating Midford and installed over twenty years ago had worked very well but some renewals had become necessary, particularly of the electrical locking and

communications. A full demonstration of the equipment in action was given to the public over the Members' weekend 17/18 September. Further demonstrations are planned for 2006.

Enhancements were made to the narrow gauge railway at Washford. The storage shed was enlarged, and additional trackwork laid. The Trust is grateful for the donation of components from the Westonzoyland Engine Trust (Reg. Charity 279765) which was associated in the work.

The Trust was very fortunate in having the assistance of the West Somerset Railway Association's (Reg. Charity 1041901) volunteer PW gang in the upgrading of the trackwork at Washford during August. Further work was carried out by a small team of Trust volunteers during the Winter. The track is now in better and safer condition to receive the large coupled locomotives expected on the sidings during 2006.

Photographic collection

As always requests from Members for images have been processed. The Photographic Archive has been involved with producing images and captions for the 2006 and 2007 Trust calendars. The Rimmer Collection has now been digitised and has been a valuable resource for Somerset & Dorset Railway modelers. The Archive has also received images from the collections of David Pine, Mike Palmer, Rodney Scovell and Ralph Dodds all of which have been a valuable addition.

Coach Restoration

S&DJR First Class No. 4:

• Under-frame: Step brackets have been fitted to the North side, and fixing of the step-boards is still imminent. The vacuum brake cylinder remains to be fitted and linkages rebuilt.

• Buffers: Removed during other work may require spring pre-load to be reset.

• North side and ends: Exterior panelling and beading complete with laminated glass fitted to most of the quarter-lights. Toughened glass to four drop-lights temporarily placed in the doors. Four doors are in place. Small carriage locks remain to be fitted. Bolection (window frame) mouldings completed. Several additional undercoats have been applied. At least three coats of blue finishing coat and several coats of varnish are required. Four new grab (commode) handles have been supplied and test-fitted with four original brass door handles being available.

• Roof: Cleaned and inspected. Whilst solid, it still requires considerable work with the surface to be made more even, cracks to be filled with waterproof compound and canvas covering and white paint to follow. Oil lamp holes still require raised edges and watertight plugs to be fitted. Rain-strips will then be needed with some cornice mouldings being required under the roof edges.

• Doors: Interior wood components and leather linings still required with most of the complex surviving original parts only suitable for use as patterns.

• Compartment interiors: More research is needed followed by a new project to fit-out one compartment initially. Expeditions are being made and contacts being cultivated, to acquire information and assistance. No work has yet commenced.
• South side exterior: Work on the doors continues. The materials for these are available.

S&DJR Third Class Coach No.114 (SR1423) Highbridge 1890:

• Still no progress but the presence of No 114 under cover allows visitors to see the condition and surviving livery, and has facilitated the recovery of components for use in Coach No 4 during the last 3 years.

Generally:

• The upper storey of the shed extension at Washford has been converted into a carpenters' workshop and store. Woodworking equipment has been purchased and installed. The facility is already proving very useful by enabling volunteers to carry out timber fabrication work for the repair of the Trust's collection of historic rolling stock.

Wells Brake-van, No. 9

The components remain in dry store at Washford. Initial preservation work has been undertaken.

S & D Locomotive, No. 88

The locomotive returned to steam on 26 October after a nine year protracted overhaul when it was involved in proving trials. Following a series of minor adjustments the locomotive returned to regular service towards the end of November. The monthly compensation fee received from the West Somerset Railway for the locomotive being out of service ceases at the end of the month in which the locomotive is accepted back in service and is complete. However, The Travel Warrants as additional compensation enabling Members to travel free on the West Somerset Railway will continue until the end of October 2006.

Mineral Wagon Project / Group

The Group has mainly been involved with restoration work on the Salmon Pink Van which will be finished in S&DJR Livery, and the LMS Van.

Great Western 55XX 2-6-2T Locomotive - 5542

This fine locomotive has now left The West Somerset Railway and Washford.

Isabel 0-6-0ST

The owner of Isabel, Hawthorn Leslie 0-6-0ST, has completed his restoration of the locomotive during 2005. Last used at Radstock in 1974, it has been a delight for the public to see this additional attraction at Washford. There has been no financial involvement of the Trust in the restoration work.

8 Plans for the Future

The reduction in the number of Members and active volunteers still continues to cause The Management Committee concern although the Trust has still managed to fulfill most of the usual and time-honoured events in conjunction with the West Somerset Railway and will endeavour to continue this during 2006.

However, the Trust may have to consider some form of cooperation or association with other Trusts or Societies in the future to compensate for this and for the rapidly rising age profile. This would require much debate within the Trust as there are many differing and opposing views within.

As reported last year the Trust is obliged to give consideration to the requirements of the Disability Discrimination Act where it is reasonable to do so. To this end consideration is still being given to improving access to the station platform at Washford and for the provision of disabled persons toilet facilities although differing views within the Trust on the extent of provision together with the lack of volunteers to progress this has resulted in little progress being made .

Whilst the level of volunteer input continues to cause concern it is hoped that the successful return to steam of Locomotive 88 together with the commemoration of the 40^th anniversary of the closure of The Somerset and Dorset Railway in March of next year both of which have or will be publicized within the railway press will 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 2005 Annual Raffle. Gavin Vaughan resigned as organizer of the club and Rosie Jacob is now responsible for the organization. The Trust thanks Gavin for his work over the past years.

The encouragement of provision of donations under the Gift Aid Scheme is still continuing although the further reduction in membership numbers and the still 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 achieved excellent sales levels. Tight budgetary controls on purchases and stock levels are still maintained.

Postal Sales increased this year due mainly to The Trust producing a Calendar for 2006, Christmas Cards for 2005 and two new books produced by Alan Hammond. Dvds have generally sold well although VHS tapes have almost ceased to sel

010. 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 2005, 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 2005. The monetary educational prize in memory of the late Michael J Palmer was not awarded in 2005 but will be revived in 2006.

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 the continued 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 again have to be reviewed.

As reported last year 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. Members of the Trust will be consulted on the proposed change when legislation is in place. As an interim measure the Management Trustees have investigated the incorporation of The Management Committee or alternatively investigate the conversion of The Trust into a company limited by guarantee with charitable status although the latter will involve some complications to the company structure and a reliable dedicated volunteer input. The views of The Management Committee will made known at The 2006 Annual General Meeting.

All the Trustees are still concerned to note that the level of volunteer activity has continued to decline below the level at which the Trust can maintain several of its key activities. More, youthful and active Members are still 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 Sunday 12 March 2006

Signed:

....................................

Andrew W Naish (Chairman )