Registration number: 02637171
Bridgend Community Transport Ltd
(A company limited by guarantee)
Annual Report and Unaudited Financial Statements
for the Year Ended 31 March 2023
Bridgend Community Transport Ltd
Company Information
Directors Mr C Edwards Mr C Jenkins Mrs KA Lane Mr B Parry Dr JE Williams Company secretary Mr B Parry Registered office Unit 1 Australian Terrace Bridgend CF31 1LY Accountants Huw Thomas 14 Severn Road Porthcawl CF36 3LW
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Bridgend Community Transport Ltd
Directors' Report for the Year Ended 31 March 2023
The directors present their report and the financial statements for the year ended 31 March 2023.
Directors 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 JE 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 20 December 2023 and signed on its behalf by:
......................................... Mr B Parry Company secretary and director
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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 2023
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 2023 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 loss 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
20 December 2023
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Bridgend Community Transport Ltd
Statement of Financial Activities for the Year Ended 31 March 2023
| 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 Other income 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 IT costs 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 2023 2022 £ £ £ £ £ 185 185 185 110,445 110,445 107,077 14,280 14,280 14,280 95,000 95,000 95,000 32,189 32,189 29,761 0 520 230 230 281 |
|---|---|
| 252,329 0 252,329 247,104 |
|
| 44,756 44,756 44,115 111,885 111,885 74,047 1,056 1,056 900 1,062 1,062 299 1,464 1,464 1,264 36,016 36,016 20,225 33,573 33,573 19,398 11,138 11,138 11,188 1,780 1,780 684 1,690 1,690 686 1,621 1,621 1,537 2,227 2,227 2,738 2,418 2,418 1,325 524 524 312 668 668 404 3,615 3,615 6,205 0 0 0 900 900 900 176 176 735 496 496 995 540 540 318 519 519 509 0 0 -22,873 37,894 9,569 47,463 51,746 |
|
| 296,018 9,569 305,587 217,657 |
|
| -43,689 -9,569 -53,258 29,447 0 0 367,706 55,192 422,898 393,636 |
|
| 324,017 45,624 369,641 422,898 |
The statement of financial activities includes all gains and losses recognised in the year.
All incoming resources and resources expended derive from continuing activities.
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Bridgend Community Transport Ltd
(Registration number: 02637171) Balance Sheet as at 31 March 2023
| 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 |
2023 £ 204,318 32,588 146,966 179,554 (14,231) 165,323 369,641 324,017 45,624 369,641 |
2022 £ 195,552 26,729 214,098 |
|---|---|---|
| 240,827 (13,481) |
||
| 227,346 | ||
| 422,898 | ||
| 367,706 55,192 |
||
| 422,898 |
For the financial year ending 31 March 2023 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the Board on 20 December 2023 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 2023
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 20 December 2023.
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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' 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 2023
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.
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Bridgend Community Transport Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
3 Staff numbers
The average number of persons employed by the company (including directors) during the year, was 16 (2022 - 17).
4 Tangible assets
| Cost or valuation At 1 April 2022 Additions At 31 March 2023 Depreciation At 1 April 2022 Charge for the year At 31 March 2023 Carrying amount At 31 March 2023 At 31 March 2022 |
Land and buildings £ 108,444 - 108,444 86,076 3,588 89,664 18,780 22,368 |
Fixtures and fittings £ 48,061 - 48,061 48,060 - 48,060 1 1 |
Other tangible assets £ 404,795 56,229 461,024 231,612 43,875 275,487 185,537 173,183 |
Total £ 561,300 56,229 |
|---|---|---|---|---|
| 617,529 | ||||
| 365,748 47,463 |
||||
| 413,211 | ||||
| 204,318 | ||||
| 195,552 |
Included within the net book value of land and buildings above is £18,780 (2022 - £22,368) in respect of freehold land and buildings.
5 debtors
| Current Trade debtors Prepayments Other debtors |
2023 £ 7,781 10,173 14,634 32,588 |
2022 £ 9,329 10,173 7,227 |
|---|---|---|
| 26,729 |
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Bridgend Community Transport Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
6 Creditors
Creditors: amounts falling due within one year
| Creditors: amounts falling due within one year | ||
|---|---|---|
| Due within one year Trade creditors Taxation and social security Accruals and deferred income |
2023 £ 10,597 2,734 900 14,231 |
2022 £ 10,597 1,984 900 |
| 13,481 |
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Bridgend Community Transport Ltd
Notes to the Financial Statements for the Year Ended 31 March 2023
7 Unrestricted funds of the charity
| Balance at 1st April 2022 Movement in funds for the period Ring fenced accrued/prepaid funds Balance at 31 March 2023 |
General Designated Total Funds Funds £ £ £ 367,706 367,706 -43,689 -43,689 0 0 |
|---|---|
| 324,017 0 324,017 |
7 Restricted funds
| Building fund Vehicle fund Equipment fund |
Brought Outgoing Carried forward resources forward £ £ £ £ 0 0 0 0 55,192 0 (9,569) 45,624 0 0 0 0 |
|---|---|
| 55,192 0 (9,569) 45,624 |
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 (2022 - £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 £0 (2022 - £571).
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 £66,970 (2022 - £145,589).
The fund balance is reduced annually by the depreciation charge on the vehicles. The depreciation charge for the year was £9,569 (2022 - £20,498).
Equipment Fund
The equipment fund represents a proportion of equipment additions which have been funded by capital gr
The proportion of equipment funded by capital grants amounted to £6,723 (2022 - £6,723).
The fund balance is reduced annually by the depreciation charge on the equipment. The depreciation char for the year was £0 (2022 - £0).
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