Objects, Powers and Method of Governance
Click here to see the Objects and Powers of the Furness Railway Trust.
The business of the Furness Railway Trust (an unincorporated association) is managed by a Committee in accordance with a constitution approved by the Charity Commission. The Committee is elected at each Annual General Meeting. Three Trustees are elected to stand for a period of three years, one Trustee standing for re-election each year. All other members of the Committee are elected annually. The Committee meets on a number of occasions throughout the year in order to manage the Trust’s affairs and agree required courses of action.
The Trust’s banker is the Royal Bank of Scotland, Talbot Square, Blackpool FY1 1LE.
The Trust’s Independent Examiner is Mrs. M.L. Shrapnel ACMA, Midway House, Brow Edge Road, Backbarrow, Ulverston, Cumbria. LA12 8QT
Trustees and Committee Members
The following were the appointed Trustees and Committee Members of the Furness Railway Trust during 2005:
| Trustees: | K. Brewer |
| N.R. Gard | |
| J.M. Kay Snr. | |
| Committee Members: | T.D. Owen (Chairman) |
| D.M. Hewlett | |
| J.M. Kay Jnr. | |
| D.A. Rimmer | |
| E.V. Smith | |
| N.R.. Smith | |
| J.E. Tricker | |
| Mrs. L. Weldon |
Summary of Activities
During 2005, the efforts of Trust members have been
concentrated on the return to steam of former Great Western Railway
0-6-2T locomotive 5643. After
an eighteen year programme of fund-raising and restoration, the
locomotive passed its steam test and successfully hauled a test train
from Haverthwaite to Lakeside on Wednesday, 16th November 2005. At the
end of the year, the restoration team was in the process of completing
the remaining tasks required to enable 5643 to haul passenger trains on
preserved railways.
The Trust’s 0-6-0ST locomotive "Cumbria" received a complete repaint by members during the early months of 2005. The locomotive is now one of the few in railway preservation to have accumulated over one hundred thousand miles in passenger service. The Trust’s other operational locomotive, Furness Railway locomotive No. 20, again operated the Victorian Trains on the Lakeside & Haverthwaite Railway on five Tuesday evenings during the summer, as well as taking part in two gala events.
In November, the Furness Railway Trust took part in Ulverston’s Dickensian Festival, taking over the Harrison & Coward auction rooms for the purposes of mounting a display and fundraising. Although the premises this year were not located in the centre of the event, it was still a worthwhile exercise to exhibit the work of the Trust.
The Trust’s folk band, Live Steam, continued to perform on a regular basis, and the sales stand also attended a number of events in order to raise funds for the Trust’s activities.
As recorded in previous reports, the Committee, during its Risks and Vulnerabilities reviews, has identified the need for covered accommodation for its assets as a priority. In November, a feasibility study was commissioned from Bleasdale Wand Ltd. with regard to the Trust’s aspirations for a museum and workshop in the Haverthwaite area. Discussions were also held with the Forestry Commission to explore potential synergies with the Commission’s development proposals for Grizedale Forest. The outcome of the feasibility study is still awaited.
In anticipation of a future museum and workshop development, the Trust was grateful to accept the offer from Network Rail for a crossover, which had been taken out of use at Cark; this has now been removed for safekeeping.
All activities of the Furness Railway Trust are undertaken by volunteers. There are no paid staff employed by the Trust.
Financial Position
The Trust’s accounts show net incoming resources of £5,807 during 2005, and a cash holding of £13,958 at the end of the year. They have been prepared in accordance with the Trust’s constitution and to the requirements of the Statement of Recommended Practice for Accounting and Reporting by Charities.
Incoming Resources during 2005, £12,963, were slightly lower than in 2004 where sales income had benefited from the Trust’s attendance at Railfest 2004 at York; donations were also lower, there being no specific authorised appeals during 2005.
Sales stocks were reduced from £4,694 to £3,859 in line with the Committee’s policy to reduce holdings. Having reviewed the fund raising activities for 2005, the Trustees are satisfied that these have been conducted in an effective manner.
In line with expectations of the Committee’s previous report, restoration costs reduced markedly as the restoration of locomotive 5643 neared completion.
Reserves Policy
The Trustees believe that the Furness Railway Trust’s current finances are satisfactory and will enable the Trust to meet its short-term objective of finalising the restoration of its steam locomotive, 5643. The Committee foresees the need to accumulate funds to contribute to the development costs of a new museum and workshop, and fundraising will continue for that purpose and for other restoration projects.
This report was approved by the Trustees on 1st March 2006.
Tim Owen
Chairman
1st March 2006
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