Registration number: 02637171
## Bridgend Community Transport Ltd
(A company limited by guarantee)
Annual Report and Unaudited Financial Statements
for the Year Ended 31 March 2024
## **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 Glamorgan CF36 3LW
Page 1
## **Bridgend Community Transport Ltd**
## **Directors' Report for the Year Ended 31 March 2024**
The directors present their report and the financial statements for the year ended 31 March 2024.
## **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 .................... 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 2024**
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 2024 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 Glamorgan CF36 3LW Date:.............................
Page 3
**Bridgend Community Transport Ltd**
## **Statement of Financial Activities for the Year Ended 31 March 2024**
|**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
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
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**
**2024**
2023
£
£
£
**£**
£
143,698
**143,698**
110,445
14,280
**14,280**
14,280
95,000
**95,000**
95,000
32,189
**32,189**
32,189
**0**
230|
|---|---|
||**285,167**
**285,167**
252,144|
||41,988
**41,988**
44,756
133,758
**133,758**
111,885
444
**444**
1,056
507
**507**
1,062
1,336
**1,336**
1,464
32,039
**32,039**
36,016
27,333
**27,333**
33,573
11,340
**11,340**
11,138
85
**85**
1,780
3,874
**3,874**
1,690
2,242
**2,242**
1,621
1,328
**1,328**
2,227
2,583
**2,583**
2,418
558
**558**
524
120
**120**
668
3,011
**3,011**
3,615
900
**900**
900
1,476
**1,476**
176
795
**795**
496
628
**628**
540
100
**100**
519
-11,999
**-11,999**
0
44,551
**44,551**
47,463|
||**298,997**
**0**
**298,997**
305,587|
||-13,830
0
**-13,830**
-53,443
**0**
0
324,017
45,624
**369,641**
422,898|
||**310,187**
**45,624**
**355,811**
369,641|
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 2024**
|**Note**
4
5
6
**Fixed assets**
Tangible assets
**Current assets**
Debtors
Cash at bank and in hand
**Creditors**: Amounts falling due within one year
**Net current assets**
**Net assets**
**Reserves**
Unrestricted funds
Restricted funds
General funds|**2024**
**£**
159,766
27,365
183,369
210,734
(14,689)
196,045
355,811
310,187
45,624
355,811|**2023**
**£**
204,318
32,588
146,966|
|---|---|---|
|||179,554
(14,231)|
|||165,323|
|||369,641|
|||324,017
45,624|
|||369,641|
For the financial year ending 31 March 2024 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 .................... 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 2024**
## **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 ........... .
## **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.
Page 6
## **Bridgend Community Transport Ltd**
## **Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024**
## **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.
Page 7
## **Bridgend Community Transport Ltd**
## **Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024**
## **3 Staff numbers**
The average number of persons employed by the company (including directors) during the year, was 16 (2023 - 16).
## **4 Tangible assets**
|**Cost or valuation**
At 1 April 2023
Disposals
At 31 March 2024
**Depreciation**
At 1 April 2023
Charge for the year
Eliminated on disposal
At 31 March 2024
**Carrying amount**
At 31 March 2024
At 31 March 2023|**Land and**
**buildings**
**£**
108,444
-
108,444
89,664
750
-
90,414
18,030
18,780|**Fixtures and**
**fittings**
**£**
48,061
-
48,061
48,060
-
-
48,060
1
1|**Other tangible**
**assets**
**£**
461,024
(34,500)
426,524
275,487
43,801
(34,499)
284,789
141,735
185,537|**Total**
**£**
617,529
(34,500)|
|---|---|---|---|---|
|||||583,029|
|||||413,211
44,551
(34,499)|
|||||423,263|
|||||159,766|
|||||204,318|
Included within the net book value of land and buildings above is £18,030 (2023 - £18,780) in respect of freehold land and buildings.
## **5 debtors**
|**Current**
Trade debtors
Prepayments
Other debtors|**2024**
**£**
11,319
12,833
3,213
27,365|**2023**
**£**
7,781
10,173
14,634|
|---|---|---|
|||32,588|
Page 8
## **Bridgend Community Transport Ltd**
## **Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024**
## **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|**2024**
**£**
11,505
2,284
900
14,689|**2023**
**£**
10,597
2,734
900|
|||14,231|
Page 9
**Bridgend Community Transport Ltd**
## **Notes to the Financial Statements for the Year Ended 31 March 2024**
## **7 Unrestricted funds of the charity**
|Balance at 1st April 2023
Movement in funds for the period
Ring fenced accrued/prepaid funds
**Balance at 31 March 2024**|**General**
**Designated**
**Total**
**Funds**
**Funds**
**£**
**£**
**£**
324,017
324,017
-13,830
-13,830
0
0|
|---|---|
||**310,187**
**0**
**310,187**|
## **7 Restricted funds**
|Building fund
Vehicle fund
Equipment fund|**Brought**
**Outgoing**
**Carried**
**forward**
**resources**
**forward**
**£**
**£**
**£**
**£**
0
0
0
0
45,624
0
0
45,624
0
0
0
0|
|---|---|
||**45,624**
**0**
0
**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 (2023 - £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 (2023 - £0).
## **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 £32,470 (2023 - £66,970).
The fund balance is reduced annually by the depreciation charge on the vehicles. The depreciation charge for the year was £0 (2023 - £9,569).
## **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 (2023 - £6,723).
The fund balance is reduced annually by the depreciation charge on the equipment. The depreciation char for the year was £0 (2023 - £0).
Page 9a