NGSRPT Trustees Report
2023/24
the Sri Lankan Railways.
This was hampered by the death in post of the General Manager of the railways (GMR) and the subsequent elec�on which postponed the appointment of their replacement as it is a poli�cal posi�on.
The trustees plan to visit the new GMR when he is in post to further the nego�a�ons.
The trustees also explored alterna�ves, including suppor�ng the rebuild of the only other item of narrow gauge material made by Sen�nel (the locomo�ve Nu�y) or to build a replica railcar.
Narrow Gauge Sentinel Railcar Preservation Trust
Accounts to 30 September 2024
Treasurers report
| Trust assets | Year to: | 30 Sep 2024 | 30 Sep 2023 |
|---|---|---|---|
| Cash balance (prior year): | £23,007.05 | £25,047.05 | |
| Member subscriptions plus donations (current year): | £15.00 | £20.00 | |
| Outgoings (current year): | £10.00 | £2060.00 | |
| __ | ___ | ||
| Cash balance (current year): | £23,012.05 | £23,007.05 |
Notes:
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(1) £20,000 of our cash is an interest free loan. The loan will be converted to a donation at the earlier of: (i) the trust claiming Gift Aid on donations; or (ii) the death of the lender.
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(2) The Trust does not hold any assets other than the cash in the bank account.
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(3) The outgoings are bank charges.
Analysis
Current position
The Trust is currently in a good financial position. However, to fulfil the full obligations in the constitution (including restoring the railcar), the trust will need to raise significantly more money.
It is estimated that it will cost between £7,000 and £10,000 to purchase and transport a single Sri Lankan 2’6” gauge railcar back to the UK. Note: it is to be stressed that these values are very much estimates as we have not received an estimate of the asking price from the current railcar owners.
Once a railcar is back in the UK the trust will need to raise an estimated £40,000 per railcar to get it operational.
Therefore, the trust will need to raise significantly more money to purchase, transport and restore one or more of the railcars.
Potential opportunities
This year has seen a return to the low levels of activity for the trust. This likely impacted donations to the trust, due to the limited activity.