After the West Somerset Railway (WSR) had two formal appeals turned down following the recent rejection of its second-round bid to the Government’s Department of Culture, Media and Sport’s (DCMS) Second Round for ‘Culture Recovery Fund for Heritage’ (CRFH) financial support, the WSR has launched an emergency ‘SOS’ funding appeal for £1 million to see it through to next May.
As a result, the WSR has announced the launch of a new £1 million ‘SOS’ funding survival appeal of its own in order to see it through to 2022 and beyond. Please see the attached letter from the plc Chairman and the donations form. This money is now needed because the 2021 season’s projected, but truncated revenue income will be insufficient to meet all of the calls on the WSR budget.
Following this major setback, plus an expected 2021 trading revenue shortfall for the truncated operating season due to fewer trains running and a reduced capacity resulting from CV-19 restrictions, plus delays on the new Seaward Way level crossing, the WSR plc Board made THREE urgent decisions, as a direct result, in order to try and avoid further future financial problems occurring, viz:
- Launching another emergency appeal to its shareholders, stakeholders and supporters for up to £1 million in order to help it through to next year, and a hoped-for Covid-free future.
- The WSR Plc Board is also actively researching the costs and feasibility of issuing another Share Issue appeal to help raise funds from its existing 8,000 plus shareholders or new subscribers for specific projects needed on the line.
- The WSR plc will also seek the active support of both of its two support charities, the West Somerset Railway Association (WSRA) and the West Somerset Railway Heritage Trust (WSRHT) towards this appeal via targeted items of expenditure which can be made as part of their permitted support activities under charity law, and also taking advantage of Gift Aided donations.
More on this – please see the three documents above where one of which is a Donations Form. Thank you for supporting the West Somerset Railway.
