Finance Score: -4

Governance Score: 4

Support Score: 3

Liabilities <10%: +3
Excess reserves: -2
Fundraising costs high: -5

12+ Trustees: -1
Good trustee age range: +3
Dynamic board: +3
Mainly male board: -1

Grant maker support: +3

Overall GiG Score: 3

THE ISLE OF WIGHT RAILWAY COMPANY LIMITED

Operates a 5 mile heritage steam railway on a part of the former Ryde to Newport railway line.

Analysis by Giving is Great

Positives:

The charity has received modest backing from a grant maker
This charity has a robust balance sheet
There have been no material income shortfalls in recent years
The Board appears to be well diversified in terms of age and dynamic in terms of composition

Regulatory & Governance issues to consider:

There are 15 trustees whereas the Charities Commission recommends a maximum of 12
The Board is predominantly male

Financial issues to consider:

This charity has substantial assets and unrestricted reserves of £5,073,028 available, equivalent to 26 months of spending and so may not be able to utilise additional funding
Fundraising costs are extremely high relative to funds raised

Financial Data ?

Income & Spending ?

Sources of Income ?

Y/E	Income £k	Spending £k	Surplus/ Deficit	Fundraising Cost £k	Total Funds £k	Unrestricted Funds £k	Mths Rsrvs	Staff	Volun- teers
31/12/22	£2,682	£2,374	£308	£1,100	£5,253	£5,073	25.6	45	420
31/12/21	£2,565	£1,969	£596	£982	£4,888	£4,689	28.6	44	400
31/12/20	£1,464	£1,529	£-66	£606	£4,294	£4,169	32.7	35	400
31/12/19	£2,424	£2,121	£303	£619	£4,363	£4,251	24.1	34	500
31/12/18	£1,985	£1,961	£24	£100	£4,058	£3,924	24	30	500
31/12/17	£1,939	£1,875	£64	£103	£4,035	£3,881	24.8	35	0
31/12/16	£1,861	£1,741	£120	£95	£3,971	£3,799	26.2	30	0
31/12/15	£1,805	£1,559	£246	£441	£2,643	£2,380	18.3	25	0
31/12/14	£1,829	£1,512	£317	£752	£2,397	£2,212	17.6	25	0
31/12/13	£1,593	£1,397	£196	£742	£2,080	£1,972	16.9	26	0
31/12/12	£1,823	£1,353	£469	£700	£1,884	£1,799	15.9	30	0
31/12/11	£1,486	£1,396	£90	£656	£1,415	£1,207	10.4	25	0
31/12/10	£1,314	£1,298	£16	£366	£1,324	£1,156	10.7	21	0
31/12/09	£1,186	£1,185	£0	£448	£1,308	£1,190	12.1	27	0
31/12/08	£1,176	£1,153	£23	£522	£1,308	£1,179	12.3	27	0
31/12/07	£1,154	£1,144	£10	£321	£1,285	£1,183	12.4	25	0
31/12/06	£731	£723	£8	£0	£0	£0	n/a	0	0
31/12/05	£604	£493	£110	£0	£0	£0	n/a	0	0
31/12/04	£622	£587	£36	£0	£0	£0	n/a	0	0

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Financial Ratios

Fundraising Costs/Relevant Income: 67%
Fundraising Costs/Total Spending: 46.3%
Highest pay band: Less than £60,000
Liabilities/Assets: 3%
Liabilities/Income: 6%
Unrestricted Funds/Total Funds: 97%
Reserves/Spending: 25.6 months
Net Current Assets/Spending: 11 months
Quick Ratio: 13.8

Asset Split ?

Established: 43 years
(51 years as a company)

www.iwsteamrailway.co.uk

havenstreet@iwsteamrailway.co.uk

01983882204

Charity Commission for England and Wales

Listed activities

Education/Training

GiG Classification

Museums, parks, historical sites

How it operates

Acts as an umbrella or resource body

Where it operates

Isle Of Wight,

Who it helps

The General Public/Mankind

Who works here?

45 employees
420 volunteers

Who's supporting them? ?

Donations from Grant Makers ?

We have details on the following significant donations. Multi-year donations are allocated to the years for which they are earmarked.

Specific Donations

Amount	When Months	To be used for
National Lottery Heritage Fund - Grant to Isle of Wight Railway Co Ltd
£49,200	01/06/2020	COVID19 Isle of Wight Railway Co Ltd

Data sourced from Donors via 360 Giving

How is it governed?

Trustees (15)

Current Trustees appointed

Gender Split

Based on 14/15 persons

Age Range of Trustees: 20-74

GRAHAM MICHAEL DEEGAN Appointed: 2021, Occupation: Retired Civil Engineer

ISAAC MATTHEW FARNBANK Appointed: 2022, Occupation: Student

JOHN DENIS WOODHAMS Appointed: 2023, Occupation: Chartered Surveyor (Retired)

MARK IAN FLYNN Appointed: 2024, Occupation: Inspector At Gkn Areospace

PETER GORDON VAIL Appointed: 2022, Occupation: Retired

TON BARRY Appointed: 2018, Occupation: Retired Army Officer

MALCOLM HYATT SMITH Appointed: 2017, Occupation: Retired

NICK FELTON Appointed: 2017, Occupation: Retired

PETER TAYLOR (Chair) Appointed: 2020, Occupation: Retired, Other trusteeship: THE SOCIETY FOR THE PRESERVATION OF ISLE OF WIGHT CHURCH BELLS,

SIMON COLIN FUTCHER Appointed: 2006, Occupation: Photographer

STEVEN SMART Appointed: 2015, Occupation: Telecommunications Engineer

STUART DUDDY Appointed: 2012, Occupation: Sales Manager

IAIN EDWIN WHITLAM Appointed: 2012, Occupation: Packaging Consultant, Other trusteeship: THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF FETCHAM,

LORRAINE CAROLE DENISE BUCKMAN Appointed: 2022, Occupation: Human Resources Consultant, Other trusteeship: AGE CONCERN ISLE OF WIGHT,

STEPHEN OATES, Occupation: Marketing Advisor, Other trusteeship: THE HERITAGE ALLIANCE,

Legal constitution

Charitable company registered in England & Wales on 13/11/1981, number: 280918
Registered at Companies House on 30/08/1972, number: 01068690

Gift Aid

Registered with HMRC for Gift Aid

Policies in force

Complaints handling
Conflicting interests
Investment
Paying staff
Risk management
Safeguarding vulnerable beneficiaries
Volunteer management

Filing Record

19 returns made; all on time

Main office

ISLE OF WIGHT RAILWAY CO LTD
THE RAILWAY STATION
STATION ROAD
HAVENSTREET
RYDE
PO33 4DS

Objectives

TO ADVANCE PUBLIC EDUCATION IN THE HISTORY AND DEVELOPMENT OF RAILWAY LOCOMOTION ON THE ISLE OF WIGHT.

Defined Area of Benefit:

ISLE OF WIGHT

Data Sources