The L&BR has undergone several structural changes since the formation of the unincorporated Lynton & Barnstaple Railway Association back in 1979.
Today the project is managed by the Lynton & Barnstaple Railway Trust - a UK registered Charity and a Company Limited by Guarantee.
The L&BR Trust was incorporated in 2000 to allow the L&B project to benefit from having charitable status. Although its directors are referred to as trustees, it is actually a "Charitable Company" with a Memorandum and Articles of Association (M&As) and is governed by both Charitable and Company Law.
Commercial activities, including the operation of the railway, are carried out by the Trust's wholly-owned trading subsidiary the Lynton & Barnstaple Railway Community Interest Company. This structure was created to streamline the previously "top heavy" structure and to make best use of the resources available, including the use of group VAT. The Trust's AGM is always held on the Saturday evening of the Spring Vintage Weekend
The L&BR CIC was created in 2007 by converting an existing Trust subsidiary. Having a trading subsidiary enables the Trust to sell non-charitable items and simplifies the total management of the project. There is a perceived value in being a CIC as it encourages greater local community involvement - *see below.*
The CIC is a Company Limited by shares - the majority of which are held in perpetuity by the L&B Trust
*What is a Community Interest Company? (from the CIC Regulator)*
A community interest company (CIC) is a limited liability company with the specific aim of providing benefit to a community. This legal form can be adopted by a range of social enterprises and ‘not-for-profit’ projects serving communities throughout the UK, which combine the pursuit of a social purpose with commercial activities.
Social enterprises can comprise of partnerships between local authorities, businesses and other stakeholders working for the community’s benefit – for example, in operating day care centres, out of hours GP care, waste recycling, local transport or the provision of low-cost work units for start-up businesses.
The CICs AGM is always held on the Saturday evening of the Spring Vintage Weekend and follows the Trust AGM.
Exmoor Enterprise was launched on 28th September 2007 and is a loose association of L&B Trustees, Company Directors and others together with political and economic supporters. It's principle aim is to stimulate, promote and manage the reinstatment of the L&B across the National Park, initially from Blackmoor to the twin towns of Lynton & Lynmouth as well as from Blackmoor to Wistlandpound Reservoir. But eventually all the way back to Barnstaple.
Formed in 2009 as a company limited by shares it became a registered charity in 2010.
Established specifically to build, preserve, maintain and exhibit a replacement for the L&B's original Baldwin locomotive, LYN. Although completely independent from the official L&B organisation. The 762 Club has an "asset lock" so that, in the event that the charity is wound up, all assets, including LYN, will be transferred to the L&BR Trust.
Formed in 2002 as a Private Limited Company limited by shares it exists solely to purchase and maintain available land on the former route of the former Lynton & Barnstaple Railway. However, EA has no legal connection with and is independent of the L&BR Trust and its members. As EA's directors and shareholders are all L&BR enthusiasts the L&BR Trust naturally supports its aims and objectives.
The Lynton & Barnstaple- The Act to construct and operate the railway
The Railway Act 1921- The Act that enabled the Grouping of smaller railways into the Big Four
The Southern Railway Act 1923 - The Act to bring about the creation of the Southern Railway. Sections 60 - 67 relate to the winding up and transfer of the L&B