[4] The Trust's 2006 annual report states: The objectives shall be to preserve, exhibit, display and loan for demonstration for the public benefit and for the advancement of technical, historical and general education, steam and other railway locomotives, rolling stock, equipment, machines and relics which are historical, operational and of general interest and in addition are of educational value.

The objective of the charity is also the preservation, maintenance and promotion of narrow gauge railways.

[5] The workshop building, completed in 2014 is a major asset to the railway and now employs a number of skilled craftsmen and apprentices.

The workshop has completed the restoration of a number of locomotives as well as carrying out maintenance of the Vale of Rheidol fleet.

Additionally Vale of Rheidol Railway Chairman, Peter Rampton, privately owns a number of locomotives.