Difference between revisions of "Severn Valley Railway Charitable Trust Ltd"
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===Shareholding in SVR(H)=== | ===Shareholding in SVR(H)=== | ||
− | The Trust is a [[Severn Valley Railway (Holdings) PLC#Notable_shareholdings|minor shareholder in SVR(H)]] by way of donated or bequeathed shares. In the 2012 Share Offer existing shareholders with small numbers of shares who did not want to increase their holding were invited to donate their shares to the Trust. In | + | The Trust is a [[Severn Valley Railway (Holdings) PLC#Notable_shareholdings|minor shareholder in SVR(H)]] by way of donated or bequeathed shares. In the 2012 Share Offer existing shareholders with small numbers of shares who did not want to increase their holding were invited to donate their shares to the Trust. In 2021 the market value was £24,435<ref name=accounts21>Report and Financial Statements to 30 June 2021, via Companies House</ref>. |
==Support== | ==Support== | ||
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| 2019 || style="text-align:right;" | £695,990 || | | 2019 || style="text-align:right;" | £695,990 || | ||
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− | | 2020 || style="text-align:right;" | £2,141,254 || Includes £691k Falling Sands Viaduct renovation and £503k bequest allocated to 4930 Hagley Hall.<ref name=accounts20/> | + | | 2020 || style="text-align:right;" | £2,141,254 || Includes £691k Falling Sands Viaduct renovation and £503k bequest allocated to 4930 Hagley Hall.<ref name=accounts20>Report and Financial Statements to 30 June 2020, via Companies House</ref> |
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− | |} | + | | 2021 || style="text-align:right;" | £690,171 || |
+ | |-|} | ||
==Fundraising== | ==Fundraising== | ||
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===Endowment Future Fund=== | ===Endowment Future Fund=== | ||
− | The Trust set up an endowment Future Fund, the income from which is intended to allow sustainable investment on the Railway in years to come. It has aspirations to grow the Fund eventually to £10 million.<ref>SVRLive Charitable Trust page, 26 April 2017</ref> It appointed professional investment managers, Brewin Dolphin, to manage the investment. Donations to the Future Fund were matched, pound for pound, by a [[:Category:Lottery funding#National_Lottery_Heritage_Fund|Heritage Lottery Fund]] Catalyst programme grant of up to £500,000 which was awarded in 2013 and reached on 26 May 2017, giving a total fund value of over £1 million. By June | + | The Trust set up an endowment Future Fund, the income from which is intended to allow sustainable investment on the Railway in years to come. It has aspirations to grow the Fund eventually to £10 million.<ref>SVRLive Charitable Trust page, 26 April 2017</ref> It appointed professional investment managers, Brewin Dolphin, to manage the investment. Donations to the Future Fund were matched, pound for pound, by a [[:Category:Lottery funding#National_Lottery_Heritage_Fund|Heritage Lottery Fund]] Catalyst programme grant of up to £500,000 which was awarded in 2013 and reached on 26 May 2017, giving a total fund value of over £1 million. By June 2021 it had grown to £1.42 million<ref name=accounts21/>. |
===Current appeals and restricted funding=== | ===Current appeals and restricted funding=== | ||
− | The Trust's website lists its current appeals (11 as at 2021) and the annual report and accounts details funds restricted by the donor to particular items or projects ( | + | The Trust's website lists its current appeals (11 as at 2021) and the annual report and accounts details funds restricted by the donor to particular items or projects (19 as at 2021)<ref name=accounts21/>. |
==Rolling stock== | ==Rolling stock== |
Revision as of 21:35, 7 April 2022
Severn Valley Railway Charitable Trust Ltd is a Registered Charity, Number 1092723, for the purpose of raising funds to support the SVRSevern Valley Railway. It is commonly referred to on the SVRSevern Valley Railway as the Charitable Trust. Its objectives are to help fund restoration and maintenance projects, to help arrest the decline of heritage engineering skills and to safeguard the long-term future and operational capability of the Railway.
It is a membership body. Governance is through up to nine trustees, including ex officio the chairman (or their nominee) from each of SVR(H) and Severn Valley Railway Company Limited. Its salaried executive director is Shelagh Paterson.
Origins and Objects
The SVRSevern Valley Railway Rolling Stock Trust Company Limited was incorporated on 17 December 2001 as a private company limited by guarantee, company number 04341280. As a charitable body, its Objects were:[1]
"To advance education for the benefit of the public by:
- the acquisition, restoration, preservation, operation maintenance and display of heritage railway locomotives, coaches, wagons and artefacts
- the provision of facilities for the education, training and certification of trainees in the practicalities, techniques and methods used in the restoration, repair and operation of historic railways"
On 29 June 2012 the Trust took on a wider remit as the SVRSevern Valley Railway's general charitable trust, for which purpose it adopted its present name.[2]
The Charitable Trust was the SVRSevern Valley Railway's 'owner of last resort', "...ensuring that various locomotives, coaches and wagons that have been lovingly restored over many years by SVRSevern Valley Railway volunteers can remain at the Railway, in perpetuity. As the members of the many preservation groups inevitably age and their numbers dwindle, items of rolling stock can be donated to the Charitable Trust, in order to be absolutely certain they will remain at the Railway for the long-term."[3]
The current (2019) Articles of Association state that:[4]
"The Charity’s Objects are specifically restricted to the following:
- to advance education for the benefit of the public by the acquisition, restoration, preservation and operation of heritage railway locomotives, carriages, wagons, station buildings, track and other associated infrastructure
- establishing buildings to house and preserve the Charity’s rolling stock collection
- the provision of educational and interpretive displays for the travelling public and
- the provision of education and skills training used in the restoration, repair and operation of historic railways to ensure their long term survival"
The Trust is a member of the Heritage Trust Network, an umbrella organisation for built heritage preservation groups and individuals formed in 2016 from the Association of Preservation Trusts (UK-APT). Members work to restore built heritage and bring historic buildings back into community use.[5]
The Trust is a minor shareholder in SVR(H) by way of donated or bequeathed shares. In the 2012 Share Offer existing shareholders with small numbers of shares who did not want to increase their holding were invited to donate their shares to the Trust. In 2021 the market value was £24,435[6].
Support
The Trust supports a variety of projects including rolling stock, infrastructure, permanent way, diesel, Bridgnorth development, education and access. Its annual report and accounts, available online from Companies House, lists the projects it has supported in the previous year and the amounts committed. Major projects include:
- The Charitable Trust funds most of the costs of the SVRSevern Valley Railway’s Heritage Skills Training Academy and team of apprentices. It costs £21,000 to fund an apprentice for one year, and the Trust funded £98,457 in 2019.
- It secured an HLFHeritage Lottery Fund (National Lottery Heritage Fund from 2019) grant of £95,000 and contributed over £500,000 to the overhaul of 4930 Hagley Hall
- At Falling Sands Viaduct it raised £1.25m for major repairs, completed in 2021.
- Applications for the Fight Back Fund for which the SVRSevern Valley Railway received £250,000 grant from The National Lottery Heritage Emergency Fund and £906,000 and £1,012,900 in the first and third rounds from the Culture Recovery Fund.[7][8][9]
In October 2017 the Trust announced it was establishing an In Memory Garden for SVRSevern Valley Railway supporters, close to The Engine House.
Charitable expenditure
The report and accounts and Charity Commission website record expenditure on charitable activities by year. An incomplete record follows:
Financial year ending | Amount | Notes |
2016 | £166,770 | |
2017 | £436,890 | |
2018 | £382,580 | |
2019 | £695,990 | |
2020 | £2,141,254 | Includes £691k Falling Sands Viaduct renovation and £503k bequest allocated to 4930 Hagley Hall.[10] |
2021 | £690,171 |