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Peak Rail annual report

Discussion in 'Heritage railways & Centres in the Uk' started by huochemi, Aug 11, 2017.

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  1. huochemi

    huochemi Active Member Friend

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    I have started a new thread as I know that the main contributor to the existing thread prefers that it stays free of more controversial matters. The latest annual report of Peak Rail PLC (y/e 31 December 2016) - available at https://beta.companieshouse.gov.uk/company/02071143/filing-history makes depressing reading. The management there seems to get into a lot of disputes and it comes across as a rather dysfunctional set-up, reflected in the tiny turnover.
     
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  2. David R

    David R Active Member

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    £160,000 - that's one hell of a claim - wht on earth can justify that - have Peak Rail destroyed the loco?

    Also if it comes anywhere near suceeding, once legal costs are added it is a massive sum in relation to turnover and even the balance sheet - lets hope this doesn't turn into another King Edward I type of case

    David R
     
  3. David R

    David R Active Member

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  4. Breva

    Breva Member

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    I am a shareholder, so got the printed copy, which has a bit more detail on costs.
    There do appear to be some disputes, not only with the owner of the locomotive mentioned above. I guess it all depends on what was in the hire agreement.
    There is also the use of capitalised labour to reduce expenses, £19k in 2016 and £25k in 2015 and 2014. If you add that back into the P&L the 2016 profit becomes a loss. I don't fully understand the accounting implications of capitalising labour, perhaps someone can shed light on that? The A/R says that 'labour costs incurred that are directly attributable to bringing assets into working condition are capitalised'.
    They also revalued the Buxton site in 2011, which increases the equity.

    On the other hand, they got into Matlock, which is a success, and they are looking into extending to Rowsley, which is why I became a shareholder in the first place.

    Good stuff seems to be happening at Darley Dale - lamp posts, footbridge, station building.
     
  5. Stan loco

    Stan loco New Member

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    My understanding is that the "claim" is still live. Still within the court system so it is in no ones interest to publically comment about it.
    Perhaps this thread should be removed ?

    Peace
     
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  6. Big Al

    Big Al Resident of Nat Pres Staff Member Moderator Friend

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    As a general rule it is is nobody's interest to have an extended debate about any matter where legal proceedings are, or may be, taking place. So with that thought in mind, could everyone refrain from posting further on this matter?
     
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  7. Woodster21

    Woodster21 Member

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    Blimey that annual report makes grim reading
     
  8. sleepermonster

    sleepermonster Member

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    I understand the claim has been settled by Peak Rail accepting and paying the Grinsty offer of settlement of £130,000, plus costs to be assessed later - goodness knows what they will be.
     
  9. Alan Brader

    Alan Brader New Member

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    It's no big surprise IMO.

    The management at Peak Rail have consistently underperformed and if a change of directors, or at the very least a new approach to running the railway can, in all honesty, have only one outcome and that will be the closure of the railway!

    Ok that maybe sounds a bit harsh, but in reality it's what will happen if things stay as they are.
     
  10. admin

    admin Founder Administrator

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    I have received an email from Jackie Statham, who is the Joint Managing Director of Peak Rail PLC.

    Due to this being an ongoing court case, I have been asked to moderate further discussion. Therefore, I will leave posts that have already been posted. However I will lock this thread until the court case has been resolved where this thread will be reopened in the interest of publicly available information and free speech.

    Admin
     
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