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Teifi Valley Railway

Discussion in 'Narrow Gauge Railways' started by Anthony Coulls, Jun 22, 2014.

  1. Pete Thornhill

    Pete Thornhill Part of the furniture Staff Member Moderator

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    While I was in the area visited again on Thursday and again was surprised to find how busy it was, the track had been extended, and now runs a little past forest halt.

    Definitely aimed at the family market but seemed to be doing well with visitor numbers. Alan George was in steam and working the trains.

    My last visit was in July last year and saw the same faces who were still working to the same aims as my last visit. It's a small team so it all takes time but progress is being made.
     
  2. Elizabeth Perry

    Elizabeth Perry New Member

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    With no railway track, it was logical to develop the childrens' playpark side to bring in some revenue at least , but disappointing lack of progress over the 3 years on the tracklaying and restoration of Sgt Murphy. Shortage of volunteers shows in the uncontrolled vegetation particularly in Henllan station. And the caravan doesn't help. Any reason for the railway cafe to be privatised?
     
  3. Sidmouth

    Sidmouth Part of the furniture Staff Member Moderator

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    @Elizabeth Perry many railways have outsourced cafe's . It reduces risk , guarantees an income and allows volunteers to focus on core railway operation
     
  4. Elizabeth Perry

    Elizabeth Perry New Member

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    In this case, the cafe is run by a limited Company, the Busy Bee Cafe Ltd, with the 2 shareholders the Railway general manager and the Company treasurer. No Accounts yet so can't tell how this has helped the Railway.
     
  5. gwilialan

    gwilialan Active Member

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    Just had a quick look at Companies House and noted in one document:-
    "Each share has full rights in the company with respect to voting, dividends and distributions." (My highlighting)
    Maybe the bean counters will tell me that this is a 'normal' statement but, if the cafe is there solely to support the railway, why would they include the reference to dividends etc? I also note that Mr Mc.- is a little shy about being shown in the list of directors and also the list of shareholders. Perfectly within his rights of course...

    I note that the companies accounts are overdue. As the cafe was there before the company it will be interesting to see what the company lists as capital assets and, if those assets were there before the company, how much the company paid the railway for the transfer of assets to them. Have you seen the railway accounts? Do they list an income from the company for the transfer or for rent or lease payments on the building or for electric, water etc,etc?

    I really do hope this is not a case of 'out of the frying pan...' for the railway after all the work the volunteers have done putting it back together again.
     
  6. Elizabeth Perry

    Elizabeth Perry New Member

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    The "new management" are very shy about public enquiries and take advantage of current regs by submitting abbreviated Railway Accounts to Companies House. These consist of a simple balance sheet only, so it's impossible to find out what the relationship between cafe and Railway may be. Mr M for 10 years has steered clear of the responsibilities of being a director, finding it perfectly possible to run the Railway as the general manager. Since March when the cafe Accounts became overdue I have been trying to find out why Companies House has not closed the Cafe Company down (the normal penalty for not providing Accounts) but have not received any explanation so far. It's all rather peculiar.
     
  7. Elizabeth Perry

    Elizabeth Perry New Member

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    The Teifi Valley Railway website currently shows a very mixed bag of reviews. I was struck by the headline on one: "Lovely staff except for the finance director" ....
     
  8. Elizabeth Perry

    Elizabeth Perry New Member

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    The Accounts are out - only 6 months late ... The Accounts date is 30th June 2016 - right in the middle of the season 2016 and thus must include operations in 2015. They show over £4k in the Bank but no other assets, so they must be renting the building and all its contents. Abbreviated Accounts so no further details.
     

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