Chairman's Introduction

The Directors of the PLC are very much aware that there is a lot going on both around and outside the Railway at the present time and that many staff, volunteers and other supporters are keen to be kept up to date with developments and proposed changes. What the Board thought might be useful as a starting point is if there was a regular Briefing from the Board meetings which we could share as one element of a new approach to improving communications and understanding across the WSR. This is therefore the first of a new initiative called "Briefing from the Board" which summarizes some of the key issues and decisions taken at the July meeting. We hope you find this useful and would welcome any feedback on content and presentation that you would like to give us.

Humphrey Davies
Chairman

Appointment of new Company Secretary

A number of people will already know that Geoff Evens has recently been dealing with a period of ill health. As a result, the Board has decided to support Geoff Evens by seeking a new Company Secretary. At its meeting last week, the Board considered a proposal to appoint Geoff Pateman. Geoff is a qualified accountant and until recently, was the Finance Director for the West Somerset Railway Association. The Board unanimously approved the co option of Geoff into the new role with immediate effect. The substantive nomination as a PLC Director will be put to the 2014 AGM for ratification. Geoff Evens will continue to be a Director on the Board and will support a number of the initiatives that the PLC is currently engaged in.

Financial Performance

Roger Savill, Finance Director was able to report an upbeat position on financial performance to the end of June 2013. Revenue is up £17,000 on budget mainly due to additional income from fares and line access with the overall cash flow for the period improved by £85000, thanks to effective management of budgets and benefits from commercial activities. The capital position was £45,000 under spent on current programmes. The Board noted the positive progress being made which confirmed the ongoing financial health of the organization.

Sales and Marketing

A report from David McCubbin was received. The Board was told that the Thomas the Tank Engine weekend went very well with some very positive feedback from those who attended both young and old! Passenger numbers and fare revenue for 2013 is holding up very well against budgets and planning for special events for the remainder of the year e.g. Dunster by Candlelight together with preparations for the 2014 operating season are well underway. The Commercial Department continues to explore innovative and new ways of making the WSR attractive to old and new customers alike and it was interesting to note that we now have over 5000 followers on Twitter and over 3000 Friends on Facebook.

New Head of Infrastructure

Reflecting the increasing importance that the PLC is giving to the question of infrastructure on the Railway, the Board was delighted to hear that Andrew Young has been appointed as Head of Infrastructure and took up post on 22nd of July. Andrew will be invited to meet the Board at a future meeting.

Negotiations with Somerset County Council on the WSR Lease

The PLC has been in negotiations for some two years now regarding an extension to the current lease and also exploring the issues around purchase of the freehold. The attached press release from the County Council summarizes the current position. Further updates will be publicized as they occur.

Locomotives and Rolling Stock

There were no current problems with locomotives and rolling stock under the direct ownership/control of the WSR. The new 09 diesel owned by 4160 Ltd. is now in service. Andrew Forster was also able to confirm that the work on the Minehead bay platform water tower was almost complete and work has started on the extending the locomotive servicing pit at Minehead with a completion date in early August.

Corporate Plan

Steve Williams gave an update on the Corporate Plan. The first draft is scheduled to be available to the Board in late August with a full discussion on the draft to be timetabled for early September followed by formal consultation. The Board were also updated on discussions with the County Council with regard to a potential feasibility study to examine the proposed Taunton to Bishop Lydeard link. The Board were reminded that this is in the context of the new franchising framework for the national network and the recently published report on rail services in the Southwest commissioned by the local authorities.

AGM

The Board noted that the AGM approved the appointment of 4 Directors [Messrs. Aldridge, Baker, Major and Williams]. It was also suggested that the Board needs to improve communications with staff and volunteers together with other stakeholders. [Details of a special meeting will be issued later]