Did you know that for the tax year ended 04/04/13 and beyond, the minimum of £500.00 for EIS tax relief was removed and the relief remained at 30%.
The WyvernRail Share Issue was launched in 2002 with the intention of raising £750,000 to purchase and restore the line. The initial target was to raise £45,000 within 40 days to satisfy Companies House requirements and this was reached in just 40 hours. By December 2006, a third of a million pounds had been raised through the support of people wishing to subscribe, towards the overall total of three quarters of a million. This level of support has been very good indeed.
WyvernRail has received very strong support for the share issue with over 50% of subscribers living locally and many living in Wirksworth itself. As a result of this strong support, the Board of Directors initially extended the share issue further and, with the approval of our shareholders, the deadline has been extended significantly and prospective shareholders can continue to join the company throughout the coming years, subject to the usual legalities.
An introduction from Chairman, John Snell
Some 18 years ago regular freight traffic ceased on the picturesque branch line from Duffield to the ancient Derbyshire town of Wirksworth. Scheduled passenger services had ended during 1947, before the creation of British Railways. For many years the local community had expressed their frustration that the reinstatement of passenger services to this most attractive area of Derbyshire was being overlooked whilst services elsewhere were being developed.
Arising from this demand WyvernRail Ltd (now WyvernRail plc) was formed 16 years ago, by a team who had previous experience of railway development projects, to bring this neglected asset back into use.
The Company has been successful in obtaining a Light Railway Order, which gives it the legal powers to take over the Railway from Network Rail, and has reached agreement with the Health & Safety Executive Railway Inspectorate on the format of a Safety Case for the running of the line. These achievements are unusual for a new railway company at this stage of its development, generally these necessities are negotiated following the handover of a railway line. This gives WyvernRail a significant head start in the reinstatement of services and represents a significant capital asset for the Company.
The Company has reached agreement with Network Rail on a 99 year lease-purchase of the Railway from Duffield Station over the whole 14 kilometres of line to the Tarmac quarries at Middlepeak in Wirksworth but excluding part of the station yard at Wirksworth which is designated as a Strategic Freight Site. Network Rail has offered WyvernRail a separate lease renewable every 3 years for this property. On the ground the Railway was cleared of 12 years’ vegetation overgrowth from Wirksworth Station to Duffield Station, by the Company and its volunteer support group, the Ecclesbourne Valley Railway Association, and sections of line are open to passengers.
The Company is confident that it has every prospect for launching a successful heritage tourist railway that will also provide a community service and is able to benefit from any future freight business. Already there are proposals to limit car access to the Peak National Park. The project provides a unique opportunity to provide a traffic-free access from the East Midland cities of Derby and Nottingham directly to the countryside and tourist attractions of the Derbyshire Dales and the southern Peak National Park.
I hope that when you have read this document you will agree that the project is worthy of your support. There are approximately 1 million people living within 40 kilometres of the line, a typical distance for a day trip: this gives an excellent prospect of success. Therefore I hope you will join with me in investing in this new “Gateway to the Peak and Dales”.
How to Purchase
Pick up a pre-printed copy of our prospectus from the Booking Hall at Wirksworth Station or click here to download an electronic version.