Bodmin Railway
IMPORTANT ANNOUNCEMENT.
Saturday, 1st February 2025 marks a significant day in the history of the Bodmin Railway, as it is the date that the Bodmin Railway Heritage Trust takes over the responsibility of the operation of the railway from the former plc, and merges with the Bodmin Railway Preservation Society.
This momentous event is the culmination of three years hard work that commenced in the immediate aftermath of the Covid-19 pandemic.
Prior to these changes the Bodmin and Wenford Railway was made up of three separate entities; the Bodmin and Wenford Railway plc (which operated the railway), the Bodmin and Wenford Railway Trust (which was custodian of the railway’s principal assets) and the Bodmin Railway Preservation Society (which was the supporters and volunteers’ group).
This arrangement was established when the railway was first created, in 1984, and was typical of how heritage railways were then configured.
All changed, however, in March 2020 with the outbreak of the Corona Virus pandemic. The railway’s survival was only achieved by the three organisations coming together and, possibly, working more closely than they had since the railway was first formed.
Post pandemic, our award from the Cultural Recovery Fund included financial provision towards the costs of restructuring the Railway, with the objective of improving the Railway’s future resilience – a phrase that more and more heritage railways are using.
This award enabled us to source help and guidance from within the Heritage Railway sector and the wider professional community.
The objectives for restructuring include:-
– simplification the organisational structure of the railway, by combining the three main bodies.
– improved synergy by bringing the three bodies together.
– reducing the running costs of the three organisations.
– reducing the number of people needed at executive level to organise and run the Railway.
– improved tax efficiency, especially in regard to Gift Aid.
– improved and enhanced eligibility for grants and funding.
– improved openness with, and accountability to, the active members of the railway.
After a considerable amount of background work the proposed restructured arrangements were approved by the Boards of the plc and the Trust, as well as the Society’s Committee. At their respective AGMs in 2023 the members of the Society and the plc Shareholders voted in favour of the proposed restructuring and the process could get underway.
Under the new arrangements the Trust has evolved to enable it to take over the running of the railway. As well as a new set of Articles of Association for the Trust the opportunity was taken to revise its name, and it is now the Bodmin Railway Heritage Trust.
The plc has become a private limited company – BR Trading (Cornwall) Ltd – and is now responsible for the shop and all the catering outlets across Cornwall. As the Trust is the
principal shareholder, it is the effective owner of the business and, therefore, able to benefit from any trading surpluses.
BR Trading (Cornwall) Ltd now has two types of shares. “A” shares are held by the Trust and carry full voting rights. All others are “B” shareholders without voting rights. Those shareholders are now “Associate Members” of the Trust, retaining all their previous concessions and being eligible to attend the Trust’s AGM.
The Management Team have transferred from the Company to the Trust, thus ensuring continuity.
The Society has merged with the Trust, sharing its tangible assets, money and members, who are now members of the Trust. All former BRPS members are now members of the Trust with their concessions transferred and retained and, more importantly, with the right to attend Trust AGMs and to vote. At this year’s forthcoming Trust AGM, Members will be able to vote on the election of new, additional Trustees. This allows Members a much greater influence with the running of the railway than before.
You will have noticed that “Bodmin and Wenford” has disappeared from our name and branding. This reflects the realisation that we are no longer linked to Wenford, but we do still have the strong aspiration to return to Wadebridge. When that happens, you can expect further name changes but until then we are “Bodmin Railway”.