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The L&BR has undergone several structural changes since it’s inception with the formation of the L&BR Association in 1979.
Following recent changes, the project is now managed by the Lynton & Barnstaple Railway Trust - a UK registered Charity. Commercial activities, including the operation of the railway, are carried out by the Trusts wholly-owned subsidiary company, the Lynton & Barnstaple Railway Community Interest Company. The reason that this structure was adopted was to streamline the management of the project, whilst making best use of the resources available, and also involving the local community in the success of the developments.
Formed in 2000 from the L&BR Association, the L&BR Trust allows the project to benefit from its charitable status, and ensured that the final stages of reintroducing a working railway could be achieved.
The L&BR CIC was created in 2007 by the conversion of an existing Trust subsidiary company. Having a business subsidiary simplifies the total management of the project whilst being a CIC should add value and encourage greater local community involvement.
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 Exmoor Enterprise project launched on 28th September 2007 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 and promote the reinstatment of the L&B across the National Park, from Blackmoor to the twin towns of Lynton & Lynmouth as well as from Blackmoor to Wistlandpound Reservoir. The project requires major fundraising and development. Exmoor Enterprise is currently scheduled to cost approximately £29 Million.
