Registration number: 02637171
Bridgend Community Transport Ltd
(A company limited by guarantee)
Annual Report and Unaudited Financial Statements
for the Year Ended 31 March 2021
Bridgend Community Transport Ltd
Contents
| Company Information | 1 |
|---|---|
| Directors' Report | 2 |
| Accountants' Report | 3 |
| Profit and Loss Account | 4 |
| Balance Sheet | 5 |
| Notes to the Unaudited Financial Statements | 6 to 9 |
Bridgend Community Transport Ltd
Company Information
Directors Mr C Edwards Mr C Jenkins Mrs KA Lane Mr B Parry Dr Janet Elizabeth Williams Company secretary Mr B Parry
Registered office Unit 1 Australian Terrace Bridgend CF31 1LY Accountants Huw Thomas 14 Severn Road Porthcawl CF36 3LW
Page 1
Bridgend Community Transport Ltd
Directors' Report for the Year Ended 31 March 2021
The directors present their report and the financial statements for the year ended 31 March 2021.
Director of the company
The directors who held office during the year were as follows:
Mr C Edwards
Mr C Jenkins
Mrs KA Lane
Mr B Parry - Company secretary and director
Dr Janet Elizabeth Williams
Principal activity
The principal activity of the company is providing transport for people who have a special need for such a service resident in Ogwr
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the Board on 30 November 2021 and signed on its behalf by:
......................................... Mr B Parry Company secretary and director
Page 2
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of Bridgend Community Transport Ltd for the Year Ended 31 March 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Bridgend Community Transport Ltd for the year ended 31 March 2021 as set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of Bridgend Community Transport Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Bridgend Community Transport Ltd and state those matters that we have agreed to state to the Board of Directors of Bridgend Community Transport Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bridgend Community Transport Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Bridgend Community Transport Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Bridgend Community Transport Ltd. You consider that Bridgend Community Transport Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Bridgend Community Transport Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
......................................
Huw Thomas 14 Severn Road Porthcawl CF36 3LW
30 November 2021
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Bridgend Community Transport Ltd
Statement of Financial Activities for the Year Ended 31 March 2021
| Incoming Resources Donation, legacies and similar incoming resources Activities to further the charity's objectives BCT Vehicle Hire Bridgend CBC - social services SLA Funding Bridgend CBC - BSSG Allocation MCC - BSSG KM Support Car Scheme Total Incoming Resources Resources expanded Administration salaries Drivers wages Pension costs Training Insurances Vehicle fuel Vehicle spares and repairs Vehicle insurance Protective clothing Travelling expenses Heat, light, rent and rates Building repairs Printing, postage and stationery Telephone Subscriptions & donations Professional fees Car Scheme Accountancy fee Advertising Sundry expenses Payroll costs Bank charges Profit on sale of assets Depreciation Total Resources Expended Movement in total funds for the year - Net income/(expenditure) for the year Ring fenced accrued/prepaid funds Total funds brought forward Total funds carried forward |
Unrestricted Restricted Designated Total Total funds funds funds 2021 2020 £ £ £ £ £ 0 0 0 91,999 91,999 163,802 14,280 14,280 14,280 99,160 99,160 80,000 36,268 36,268 16,810 1,270 1,270 1,117 |
|---|---|
| 242,977 0 242,977 276,009 |
|
| 41,106 41,106 60,525 25,461 25,461 91,174 636 636 744 747 747 697 1,390 1,390 2,569 9,482 9,482 27,946 10,034 10,034 17,439 13,753 13,753 13,351 1,180 1,180 0 1,234 1,234 1,978 1,576 1,576 1,373 13,495 13,495 1,866 1,694 1,694 2,547 710 710 2,550 215 215 240 3,805 3,805 3,655 0 0 7,457 900 900 900 765 765 330 1,082 1,082 875 498 498 595 0 0 0 0 -12,749 62,851 3,831 66,682 55,864 |
|
| 192,614 3,831 196,445 281,926 |
|
| 50,363 -3,831 46,532 -5,917 -36,679 36,679 0 0 344,011 3,092 347,103 353,020 |
|
| 357,695 35,940 393,635 347,103 |
The statement of financial activities includes all gains and losses recognised in the year.
All incoming resources and resources expended derive from continuing activities.
Page 4
Bridgend Community Transport Ltd
(Registration number: 02637171) Balance Sheet as at 31 March 2021
| Note Fixed assets Tangible assets 4 Current assets Debtors 5 Cash at bank and in hand Creditors: Amounts falling due within one year 6 Net current assets Net assets Capital and reserves Unrestricted funds Restricted funds General funds |
2021 £ 207,206 26,726 208,703 235,429 (48,999) 186,430 393,636 357,696 35,940 393,636 |
2020 £ 224,885 21,478 103,303 |
|---|---|---|
| 124,781 (2,563) |
||
| 122,218 | ||
| 347,103 | ||
| 344,011 3,092 |
||
| 347,103 |
For the financial year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the Board on 30 November 2021 and signed on its behalf by:
......................................... Mr C Jenkins Director
The notes on pages 6 to 9 form an integral part of these financial statements. Page 5
Bridgend Community Transport Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2021
1 General information
The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.
The address of its registered office is: Unit 1 Australian Terrace Bridgend CF31 1LY
These financial statements were authorised for issue by the Board on 30 November 2021.
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when: The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
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Bridgend Community Transport Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2021
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class Depreciation method and rate Land and Buildings 4% straight line basis Plant and machinery over 7 years straight line basis office equipment 20% straight line basis
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
3 Staff numbers
The average number of persons employed by the company (including directors) during the year, was 17 (2020 - 17).
Page 7
Bridgend Community Transport Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2021
4 Tangible assets
| Cost or valuation At 1 April 2020 Additions At 31 March 2021 Depreciation At 1 April 2020 Charge for the year At 31 March 2021 Carrying amount At 31 March 2021 At 31 March 2020 |
Land and buildings £ 89,704 9,161 98,865 78,900 3,588 82,488 16,377 10,804 |
Fixtures and fittings £ 48,061 - 48,061 45,659 2,401 48,060 1 2,402 |
Other tangible assets £ 406,603 39,842 446,445 194,924 60,693 255,617 190,828 211,679 |
Total £ 544,368 49,003 |
|---|---|---|---|---|
| 593,371 | ||||
| 319,483 66,682 |
||||
| 386,165 | ||||
| 207,206 | ||||
| 224,885 |
Included within the net book value of land and buildings above is £16,377 (2020 - £10,804) in respect of freehold land and buildings.
5 Debtors
| Trade debtors Other debtors |
2021 £ 16,464 10,262 26,726 |
2020 £ 11,290 10,188 |
|---|---|---|
| 21,478 |
6 Creditors
Creditors: amounts falling due within one year
| Due within one year Trade creditors Taxation and social security Accruals and deferred income |
2021 £ 47,418 681 900 48,999 |
2020 £ 540 1,123 900 |
|---|---|---|
| 2,563 |
Page 8
Bridgend Community Transport Ltd
Notes to the Financial Statements for the Year Ended 31 March 2021
7 Unrestricted funds of the charity
| Balance at 1st April 2020 Movement in funds for the period Ring fenced accrued/prepaid funds Balance at 31 March 2021 |
General Designated Total Funds Funds £ £ £ 344,011 344,011 50,363 50,363 -36,679 -36,679 |
|---|---|
| 357,695 0 357,695 |
7 Restricted funds
| Building fund Vehicle fund Equipment fund |
Brought Outgoing Carried forward Adjustment resources forward £ £ £ £ 3,092 0 (2,521) 571 0 36,679 (1,310) 35,369 0 0 0 0 |
|---|---|
| 3,092 36,679 (3,831) 35,940 |
Building Fund
The building fund represents the proportion of land and building additions which have been funded by capital grants
The proportion of land and buildings funded by capital grants amounted to £60,829 (2020 - £60,829).
The fund balance is reduced annually by the depreciation charge on the buildings element of the land and buildings. The depreciation charge for the year was £2,521 (2020 - £2,521).
Vehicle Fund
The vehicle fund represents a proportion of vehicle additions which have been funded by capital grants.
The proportion of vehicles funded by capital grants amounted to £103,649 (2020 - £100,337).
The fund balance is reduced annually by the depreciation charge on the vehicles. The depreciation charge for the year was £1,310 (2020 - £1,986).
Equipment Fund
The equipment fund represents a proportion of equipment additions which have been funded by capital gran
The proportion of equipment funded by capital grants amounted to £6,723 (2020 - £6,723).
The fund balance is reduced annually by the depreciation charge on the equipment. The depreciation charg for the year was £0 (2020 - £0).
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