Charlty registration number 1007487 Company reglstratlon numbor 02483763 (England and Wales) GREATER MANCHESTER ACCESSIBLE TRANSPORT LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 GREATER MANCHESTER ACCESSIBLE TRANSPORT LIMITED LEGALAND ADMINISTRATIVE INFORMATION Directorn Councillor Philip Burke Alison Chew (Appointed 23 November 2023) (Appoinled 27 Juty 2023) (Appointed 23 November 2023) (Appointed 27 July 2023) (Appointed 27 July 2023) (Appointed 27 July 2023) Daniel Costello David Daughney Sean Fielding David Meller Tracey Rawlins Secretary Jacquellne Woodward Charfty numb•r 1007487 Company number 02483763 Membern Greater Manchester Combined Authority C'GMCA") Regl•tered offlce 20th Floor Manchester One 53 Portland Street Manchester United Kingdom M13LD Auditor Azets Audit Serrfices Ship Canal House 98 King Street Manchester M2 4WU GREATER MANCHESTER ACCESSIBLE TRANSPORT LIMITED CONTENTS Pag• Chairfs message Directors, report Independent auditorfs ￿port 9-11 Statement of financial activlts'es 12-13 Balance sheet 14 Statement of cash flows 15 Notes to the financial statements 16-27 GREATER MANCHESTER ACCESSIBLE TRANSPORT LIMITED CHAIR'S MESSAGE FOR THE YEAR ENDED 31 MARCH 2024 Demand for the Ring and Ride Setvice has remained consistent. During the last year almost 220.000 essential joumeys were completed, ensuring that passengers had access to a range of facilities and activities including fresh food shopping. health, educalion, leisurelsocial interaction and to pla￿5 of worship. The number of adive registered passengers increased to over 11.000 by the end of the year. The Service has continued to provide door to door transport bel￿een 8am and 11pm every day across all len districts of Greater ManGhesler. Hire vehicles have been Lrtilised to maintain a fleet of 46 fully ac￿ssible vehicles, and with 13QA of journeys involving a wheelchair or scooter. The introduction of vehicles with ramps. has enabled the service to provide safe travel to even more wheelchair users. The Charity has continued lo work in partnership with organisalions providing additional support to passengers, and maintained contact with passengers and group organisers by attending events and meetings both in person and online. The Charity has signed up to be a supporter of the Greater Manchester Good Employment Charter and has introduced a number of initiatives lo support our employees. T Rawlins Chair 19th De￿mber 2024 Dale.. GREATER MANCHESTER ACCESSIBLE TRANSPORT LIMITED DIRECTORS, REPORT FOR THE YEAR ENDED 31 MARCH 2024 The diredors present their annual report and financial statements for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and compty with the Gharty's principal trust deed dated 1 February 1991, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)" (effective 1 January 2019). Objectives and activities GMATL is a charitable company limited by guarantee, formed lo co-ordinate and manage Ring and Ride services in the Transport for Greater Manchester Committee {"TfGMC"l area of operation in order to provide accessible transport for the need5 of Greater Manchester. The Charily Directors have complied with the duty in section 17 of the Charities Act 2011 to have due regard to public benefit evidenced in this section of the report. The Charity's purposes as set out in the objecls conlained in the Charity's memorandum of association are: To run a community transport service for the benefit of the inhabitants of Greater Manchester and in particular the relied of povety. sickness, old age, and distress through the provision of such transport service,. and The promotion of general charitable purposes in Greater Manchester. The objectives of the Charrty are.. To provide door to door, and such other transport and associated support services as are appropriate for people who are unable to use conventional public transport., To provide its services at such qualitative and quantitative levels as are agreed under a Servi Level Agreemenl with Transport for Greater Manchester to all areas of Greater Manchester., To deliver its services in the most cost effective manner consistent with the quality and quantity of service agreed.. To continue to seek means of improving its servi¢es in quality, quantity, and value for money terms- To conduct its activities in accordance with the policies of the Transport for Greater Manchester Committee., To conduct ils setvices in accordance with its chariiable status.. and To liaise and co-operate with other transport providers, to achieve value for money and deliver as integrated a transport Sep41￿ as is possible to the public. How we work The Charity delivers its charitable aims through the direct delivery of an accessible transport service, operating within Greater Manchester. Who used and benefitted from our serviGes7 Our assets and funding limit the services we provide to those resident in Greater Manchester. The services provided utilise a fleet of minibuses lo provide door-lothdoor transport across the conurbation. Passengers regisler with the Ring and Ride service, indicating why they have difficulties using ordinary public transport. All registered passengers are required to hold a Transport for Greater Manchester {TfGM) concessionary travel pemitt or to be members of the TfGM Travel Voucher Scheme. Demand for the SeNice has remained consistent with almost 300,000 journeys ￿queSted during the year. The Servi￿ was used principally by people who are over 70 years of age. with 730￿ of registered users over the age of 70, ofwhich 65/0 were over 80, and 150/0 over 90 years of age. GREATER MANCHESTER ACCESSIBLE TRANSPORT LIMITED DIRECTORS, REPORT FOR THE YEAR ENDED 31 MARCH 2024 Our users have a wide range of both permanent and temporary impairments which means that conventicnal public transport is difficult to access., 26 % are fraivelderly, 20°/0 of passengers suffer from arthritis, 190/0 of passengers have learninglbehavioural difficullies, and 110kn have a long temi illness. Other conditions cited by users include cerebrallneurological problems (7°hl, heartlrespiratory issues (6°/.). and sensory impairments {50/01. The mobilrty difficulties experienced by some users necessitates the use of mobility aids. 13°/o of registered passengers are wheelchair users, 10 % require the use of walking aidslframes, 2°/• of passengers require use of a tail lift to board the vehicle, whilst 58 passengers {0.530/0) can only travel on ramped vehicles. Passengers travel more during the week than at weekends. Across the conurbation the busiest day varies according lo local factors such as market days etc. Tuesdays are busiest overall with 21°/.. followed by Wednesday (20 /}, Thursday119%), then Friday116°/) and Monday {140h). The weekends are quieter with just 6 /0 of trips being made on Saturday and 5 /4 on Sunday Ring and Ride services provide trips up to a maximum of six miles from a passenger's home. A policy is in place which allows trips beyond six miles in exceptional circumslances, such as trips to local district hospitals. The service also makes every effort to link with longer distance travel modes at travel interchanges providing access to rail, Metrolink and low-floor bus services. The directors have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. Achievement and Perfomiance Overall Perforniance Demand for the Service remained consistent with 294,438 journeys requested. An increase in refusals to over 10°/o resulted in fewer journeys being allocated, and de5Plte can￿lIatIonS rates falling below 20 /0 the actual number of journeys completed (219,458) wa5 slightly less Ihan in the previou5 year. The number of completed joumeys involving wheelchair users increased by almost 1.000 on the previous yeaT, to 8.430/0 of journeys. Individual District Performance The following table outlines the individual Ring and Ride performan￿ by district Registsred Depot Registered users costs user Journeys OOO'S Total Net cost Wheelchair Wheelchair passenger per journey journeys user Joumeys journeys OOO'S No £'OOOs No Bofton Bury Rochdale Salford Wigan Manchester Oldham Stockport Tameside Trafford 1,166 810 696 867 1.303 1.735 1.128 962 1,070 1,307 288 346 175 373 450 603 445 382 442 542 22 14 12 21 15 32 27 17 23 29 22 15 12 22 16 33 28 17 23 31 13 23 14 17 29 18 16 23 19 17 1,491 779 3,375 1,780 342 3,305 2.193 1,673 1,857 1,747 6.86 5.48 27.54 8.45 2.23 10.39 8.13 10.05 8.18 5.99 GREATER MANCHESTERACCESSIBLE TRANSPORT LIMITED DIRECTORS. REPORT FOR THE YEAR ENDED 31 MARCH 2024 Just over 11,000 passengers were registered to use the Ring and Ride service at 31 sl March 2024 ofwhich 43°/• had used the service during the financial year. The majority of Ring and Ride requests were met with 89.64'/o of requests booked and 10.34 /• refused. Overall patronage was reduced by 51,916 119.67 / I when passengers cancelled journeys after they had booked. Human Resources AII HR Policies and Procedures are revised annually, to ensure that the Charity meets all legal, slatutory and contractual obligations. We will continue to progress our applicalion to become full members of the Greater Manchester Good Employment Charter. The employee establishment at 31 March 2024 was 103 (85 full lime, 18 part time). Vehicles The Charity, with the support and assislance of TfGMC, currently operates a fleet of 46 vehicles, 19 of which are on hire. The hire vehicles are subject to the same rigorous maintenance regime, are fully accessible and frtted with Ticketers and Radios before being put into service. All vehicles are as accessible as possible and have additional safety feature5 incorporaled into the design including rear lifts and wheelchair and passenger restraint systems. A further five vehicles fitted with rear ramps rather than lail-lifis have been inlroduced into the fleet this year. in order to promde safe transportation for passengers with larger powered wheelchairs which cannot be accommodated safely on the tail-lift platforms. Vehicle technology enhancements include ticketing machines. Financial review The Charity's revenue expenditure in 202312024 was met by the revenue grant received from TfGM, fares paid by passengers and other income. The Statement of Financial Activities, which is included in the financial statements of the Charily in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). divides the Charity's funds be￿een 'general' and 'designated'. The general unrestricted funds relate lo funds available for expenditure on revenue items in carrying out the Charity's day-to4ay operations. The Designated Unrestricted Funds will be used to fund premises and computer depreciation. building dilapidations and vehicle replacements. The Invest to Save resetve was transferred into general reserves. Reserves Policy The Charity has reviewed its reseNe policy following the redU￿10n in Grant from TfGMC. Due to pressure on funding, the policy to build unrestricted reseNes to cover 3 months costs plus dilapidation liabrlities cannot be sustained. Reserves will be utilised to meet vehicle replacement costs including technology and depreciation costs. th respecl to both classes of funds, the assets and future funds will be reviewed to ensure that they remain adequale and available to fvlfil the Charity's obligalions and objectives subject to any fLrture reduction in grant funding. The assets and liabilities of the Charity and the gTOUP as al 31 March 2024 are shown on the balance sheel. The Charity had no inveslments other than cash held on deposit with the Charily's bankers.. the Co- operative Bank pl¢ and HSBC bank. GREATER MANCHESTER ACCESSIBLE TRANSPORT LIMITED DIRECTORS, REPORT FOR THE YEAR ENDED 31 MARCH 2024 It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be mainlained al a level equivalent to between three and six month's expenditure. The directors consider Ihal reserves at this level will ensure that, in the event of a significanl drop in funding, they will be able lo continue the charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been mainlained throughout the year. The directors have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place lo mitigate exposure to the major risks. Plans for future periods Service quality The Charity will improve where possib5e the quality aspects of the service by carrying out the following.. Working with TfGM to devise a vehicle replacemenl strategy, which may include the deploymenl of electric vehicles. Updating Se¢vice Users on any future changes to the Service. Liaising with the TfGM contacl centre lo improve scheduling efficiencies and reduce refusal rates. Reviewing time allocalion and road speeds used in scheduling. Vehicle Fleet Vehicle design features will continue to be reviewed as new vehicles are introduced lo the fleet lo ensure that the vehicles provide the most suitable, safe and efficient mode of transport for Ring and Ride passengers. Thi5 will include a review of the use of internal and extemal tail lifts and vehicles with ramps. Ring & Ride will conduct a review of available electric minibuses. to ascertain if they would be suitable for deployment on the Service. Premises The Charily Head Office is based in ￿ntral Manchester and Se￿iCe operations across Greater Manchester is provided from four depots. The depot locations are reviewed before the leases expire to ensure that piemises are situated in the mosl cost effective and efficient locations. Consideration is given to sharing premises with local aulhorilies to reduce costs and produce a revenue stream to the local authority. Call Centre The booking scheduling and despatch functions were transferred to the TfGM Contact Centre on 18 April 2023 in order to SUPPOrt the delivery of a consistent and integrated customer service for people travelling in Greater Manchester. GMATL Control Supervisors provide a direct contact for passengers and drivefs throughout the hours of operation. Best Value The Chaiity will continue to review all contracts and purchase agreements to ensure that Best Value is obtained. Servlce provision The resources utilised will continue lo be reviewed in response lo increasing passenger demand and lo provide a safe, efficient and cost effective service. Structure, govemance and managemont The sole member is Greater Manchester Combined Authority ("GMCA"). Directors carry oul dual roles., as a Councillor for a local authority or as a senior Transport for Greater Manchester employee, and as a Director of the Charity. It is considered that they re￿1ve adequate training to carry out their role as a Director. GREATER MANCHESTER ACCESSIBLE TRANSPORT LIMITED DIRECTORS. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The directors who seNed during the year and up to the date of signature of the financial statements were.. Councillor Philip Burke Alison Chew Daniel Costello David Daughney Sean Fielding David Meller Tracey Rawlins {Appointed 23 November 2023) (Appointed 27 July 2023) (Appointed 23 November 2023) (Appointed 27 July 2023} (Appointed 27 July 2023} {Appoinled 27 July 2023} The Board of Directors A majority of the members of the Charity have the power to appoint and to remove from the Board Di rectors at any time. Any Director so appointed holds office only until the next Annual General Meeting, and is then eligible for re-election. At the Annual General Meeling each year one third of the Directors retire from office. A retiring member of the Board is however eligible for re-election at the Annual General Meeting. The Role of the Board Decisions of the Charity are made at Board Meetings at which a minimum of 4 Directors {no maximum} musl be present. All Directors have one vote. The Board is responsible for taking decisions on the on-going slralegic direction of Greater Manchester Accessible Transport Limited {"GMATL"l. The Board normally meets four times a year. Untted Kingdom law requires the Charily to prepare financial statements for each financial year, which give a true and fair view of the slate of affairs of GMATL. In preparing the financial statements, the board has selected suitable accounting policies and applied them consistently, made judgemenls that are reaSo￿bIe and prudent, followed appIl￿ble accounting standards and statements of recommended practice withoul any malenal departures. and prepared the finanual statements on a going concern basis. The financial statements comply with the charily's governing document. Local consultation Communication with Service users and group organisers has been maintained by telephone. emails, in person in order lo promote the Ring and Ride service. Risk Management and Internal Control The Board is responsible for the management of the risks faced by the Charily. Risks are identifEd, assessed and controls established throughout the year. A formal review of the Charity's risk management processes is undertaken on an annual basis. Through the risk management processes established for the Charity. the Directors are satisfied that the major risks identified have been adequatety mitigated where necessary. It is recognised thal systems can provide reasonable but not absolute assuran￿ that major risks have been adequately managed. The Board reviews the accounting and financial reporting practices, its inlemal financial controls, the work of intemal and external audit and compliance with all relevant legislation. Equal Opportunities The Company, operates an equality and diversity policy to ensure that the workforce is as diverse as possible and with the support of Unite the Union will not tolerate discrimination because of age, disability, gender reassignment, marTiage and civil partnership. pregnancy and maternity. race, religion or belief, sex, sexual orientation, trade union membership. working patterns, responsibilities for dependents or offending background that does not create risk to children and vulnerable adults. GREATER MANCHESTERACCESSIBLE TRANSPORT LIMITED DIRECTORS, REPORT FOR THE YEAR ENDED 31 MARCH 2024 Statement of directors. responslbilities The directors, who also acl as Irustees for the charitable activities of GMATL, are responsible for preparing the Directors. Report and the financial statements in accordance wrth applicable law and United Kingdom Accounting Slandards (United Kingdom Generally Accepled Accounting Practice). Company Law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of Ihe incoming resources and application of resources, including the income and expenditure, of the charitable Gompany for that year. In preparing these financial statements, the diredors are required to.. select suitable a¢Gounting policies and then apply them Gonsistently- observe the methods and principles in the Charities SORP: make judgements and estimates that are reasonable and prudent., and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hen￿ for taking reasonable steps for the prevention and detection of fraud and other irregularities. United Kingdom law requires the Charity to prepare financial statements for each financial year, which give true and fair view of the slate of affairs of GMATL. In preparing the financial slatemenls, the board has selected suitable accounting policies and applied them consistently, made judgements that are reasonable and prudent, followed applicable accounting standards and statements of recommended praclice without any material departures, and prepared the financial statements on a going concem basis. The financial statements comply wilh the charity's governing document. The board is responsible for keeping proper accounting records which disclose. with reasonable accuracy at any time. the financial position of the Charity and which enables it to ensure Ihal the financial statements comply with the Companies Act 2006. It is also responsible for safeguarding the assets of the Charity and for taking reasonable steps for the prevention and detection of fraud and olher irregularities. The Board is also responsible for the corporale and financial information included on GMATL'S website. Dire¢tows' interest in contracts No Director had any material interest. either during or at the end of this financial year, in any contract in which the Charity was a party. Financial risk management Details of the Charity's financial risk management objectives and policies are included in note 11 to the financial statements. Share capital The Charity is limited by guarantee and has no share rApital. Employee training and development policy The Charity operates an Equal Opportunities Employment Policy to ensure that the workforce is as diverse as possible. Health and Safety Health and Safety standards and procedures have been eslablished in the Charity and are satisfactory. GREATER MANCHESTER ACCESSIBLE TRANSPORT LIMITED DIRECTORS, REPORT FOR THE YEAR ENDED 31 MARCH 2024 Auditor In accordance with the company's articles. a resolution proposing that Azets Audit Services be reappointed as auditor of the company will be pul al a General Meeting. A2ets Audit Services have been approved by Directors to provide audit services up until 2025. Disclosure of infomiatlon to auditor Each of the directors has confirmed that there is no information of which they are aware whi¢h is relevant lo the audit, but of which the audilor is unaware. They have further confirmed that they have taken appropriale steps to identify such relevant infomiation and lo establish that the audilor is aware of such informalion. The directors. report was approved by the Board of Directors. Tracey Rawlins Director 19th December 2024 Dale............................................... GREATER MANCHESTER ACCESSIBLE TRANSPORT LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBER OF GREATER MANCHESTER ACCESSIBLE TRANSPORT LIMITED Opinlon We have audited the financial slatemenls of Greater Manchester Ac¢essible Transport Limited (the 'charity') for Ihe year ended 31 March 2024 which comptise the slatement of financial aclivilies, the balance sheel, the statement of ash flows and notes to the finan¢ial slatements, including significant accounting policies. The financial reporting framework Ihal has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 The Financial Reporting standa￿ applicable in the UK and Republic ol Ireland (United Kingdom Generally A¢￿pted Accountin9 Practice). In our opinion, the financial statemenls.. give a true and fair view of the stsle of the charitable company's affairs as at 31 March 2024 and of ils incoming resources and application of resources, including its income and expenditure, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practi￿. and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with Intemalional Standards on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities lor the audit ol the financial stalements section of our report. We are independent of the chaflty in accordance with the ethical requirements thal are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have oblained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the directors, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the Work we have pertormed, we have not identified any material uncertainties relating to evenls Of conditions that, individually or collectively, may cast significant doubt on Ihe charity's ability lo continue as a going concern for a period of at least Iwelve months from when the financial statements ale aulhorised for issue. Our responsibilities and the responsibilities of the directors with respecl to going con￿rn are described in the relevant sections of this report. Other information The olher information comprises the information included in Ihe annual report olher than the financial stalements and our auditor's report thereon. The directors are responsible for the olher information contained within the annual report. Our opinion on the financial slalements does not cover the other information and, ex￿pt to Ihe extent othetwise explicitly staled in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other infomiation and, in doing so, consider whether the other information is malerially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparenl material misstatements, we are required lo deterniine whelher this gives rise to a material misstatement in Ihe financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstalemenl of Ihis other information, we are required to report that facl. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course ofour audit- the infomiation given in the direclors, report for the financial year for which the finanoal stalements are prepared, which includes the directors, report prepared for the purposes of company law, is consistenl with the financial statements; and the directors, report induded within the directors, report has been prepared in accordance with applicable legal requirements. GREATER MANCHESTER ACCESSIBLE TRANSPORT LIMITED INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE MEMBER OF GREATER MANCHESTER ACCESSIBLE TRANSPORT LIMITED Matters on which we are required to report by exception In the light of the knowledge and understanding of the charity and ils environmenl obtained in the course of the audit, we have not identified malerial misstatements in Ihe directors, report included within the directors, report. We have nothing lo report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion.. adequate accounting record5 have not been kept, or returns adequate for our audit have not been received from branches not visited by us.. or the financial statements are not in agreement with the accounting re¢ords and returns., or certain disclosures of trustees, remuneration specified by law are not made,. or we have not received all the information and explanations we require for our audil- or the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, exemptions in preparing the directors. report and from the requirement to prepare a strategic report. Responsibilities of directors As explained more fully in the statement of directors, responsibilities. Ihe directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is ne￿SSary to enable the preparation of financial statements that are free from malerial misstatement, whether due to fraud or error. In preparing the financial slatements, the directors are responsible for assessing the charity's ability to continue as a going concern. disclosing, as applicable, matters related to going concern and using the going con￿r￿ basis of accounting unless the directors either intend to liquidate the charitable company or to cease operations, or have no realistic alternative bLrt to do so. Auditorfs responsibilities for the audit of the financial statements Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always delect a material misslatemenl when il exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. A further description of our responsibilities is available on the Financial Reporting Council's website at.. https-11 www.frc.org.uklaudrtorsresponsibilities. This description forms part of our auditorfs report. 10- GREATER MANCHESTER ACCESSIBLE TRANSPORT LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBER OF GREATER MANCHESTER ACCESSIBLE TRANSPORT LIMITED Extsnt to which the audit was considered capable of detecting irregularities, in¢luding fraud Irregularities, includir)g fraud. are instances of non-compliance wilh laws and regulations. We design procedures in line with our responsibilities, oullined above and on the Financial Reporting Council's website, to detect material misstatements in respect of irregularities, including fraud. We obtain and update our understanding of the entity, its activities, its conlrol environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying wilh thal framework. Based on this understanding, we identify ar)d assess the risks of material misstatement of the financial statemenls, whelher due to fraud or error, design and perform audit prO￿dureS responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This indudes onsideralion of the risk of acts by the entily Ihat were contrary to applicable laws and regulations, including fraud. In response to the risk of irregularities and non-compliance wilh laws and regulations. including fraud, we designed prO￿dureS which included.. Enquiry of management and those charged with governance around actual and potential litigalion and daims as well as actual. suspected and alleged fraud., Reviewing minutes of meetings ofthose charged with governance., Assessing the extent of compliance wilh the laws and regulalions considered to have a direct material effect on the financial statements or the operations of the entily through enquiry and inspection- Reviewing financial statement disclosures and testing to supporting documentation to assess complian wilh applicable laws and regulations.. Performing audit work over the risk of management bias and override of controls. including iesting of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounling estimates for indicators of potential bias. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities. including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more Ihal compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of notFcompliance. The risk of not detecting a material misslalement resulting from fraud is higher than for one fesulling from error, as fraud may involve collusion. forgery, intentional omissions, misrepresentations, or the override of internal control. Use of our report This report is made solely to the charitable company's members. as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we mighl slate to the charitatle company's members those matters we are requifed to state lo them in an audito¢s report and for no other purpose. To the fullesl extent permitted by law. we do nol ac￿pt or assume responsibility to anyone other than the charitable company and the charilable company's membets as a body, for our audit work, for this report, or forthe opinions we have formed. Jonathan Ward (Senior Ststutory Audltor) for and on behalf of Azets Audit Services Chartered Accountants ststutory Auditor Ship Canal House 98 King Street Manchester M2 4WU 11 GREATER MANCHESTERACCESSIBLE TRANSPORT LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted funds General Designated 2024 2024 Total Unrestricted Unrestrictsd general Designated 2023 2023 Total 2024 2023 Notes able acli Revenue grant Bus Services Operators, Grant (BSOG) Fares income Investmenl income Setvice charge income 3.486,451 3.486,451 3,687.350 3.687,350 134.943 134,943 306,814 10.318 134,192 134,192 314,553 6.072 306,814 10.318 314,553 6,072 64,376 64,376 38.867 38,867 Totsl income 3,867,959 134,943 4,002,902 4,046,842 134.192 4,181,034 Charitable activities Withdrawal and depreciation of tangible fixed assets Goveman¢e costs 4.382,322 4.382.322 3.995,798 3,995,798 3,597 25,245 135,127 138,724 25,245 7,534 23,929 135.128 142,662 23,929 Total charitable expenditure 4,411.164 135,127 4.546,291 4.027.261 135,128 4,162.389 Net gainsl{losses) on investments (1) {1) Net (outgoing)linGoming resources before transfers (543.206) (184) (543.390) 19.581 (936) 18,645 Gross transfers between funds 69,000 (69,000) 22,587 (22,587) Net lexpenditure)lincome for the yearl Net movement in funds {474.206) {69,184) (543,390) 42,168 (23.523) 18.645 Fund balances at 1 April 2023 1.096,285 1,866,833 2,963,118 1,054,117 1,890,356 2,944,473 Fund balances at 31 March 2024 622,079 1,797,649 2,419,728 1.096,285 1,866.833 2,963,118 The statement of financial activities includes all gains and losses recognised in the year. 12 GREATER MANCHESTER ACCESSIBLE TRANSPORT LIMITED STATEMENT OF FINANCIALACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 All income and expenditure derive from continuing activities. The statement of financial activities also complies wilh the requirements for an income and expenditure account under the Companies Act 2006. 13 GREATER MANCHESTERACCESSIBLE TRANSPORT LIMITED BALANCE SHEET AS AT31 MARCH 2024 2024 2023 Notes Fixed assets Tangible assets Investments 10 11 434,343 573,067 434,343 573,068 Current assets Debtors Cash at bank and in hand 12 370,137 1,930.876 237.262 2,412.765 2,301,013 2,650,027 Creditors: amounts falling due withln one year 13 {315,6281 (259.977) Nel currenl assels 1,985.385 2,390,050 urrent liabilities 2,419.728 2,963,118 Income funds Unrestricted funds - Designaled General unrestricted funds 1,797,649 622,079 1.866.833 1.096,285 2,419.728 2,963,118 The financial statements were approved by the Directors on 19th December 2024 Tracey Rawlins Trustee Company registration number 02483763 14- GREATER MANCHESTER ACCESSIBLE TRANSPORT LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operating activities Cash (absorbed by}Igenerated from operations 19 {492,207) 133,349 Investing activities Proceeds from disposal of tangible fixed assets Investment income received 22,586 6,072 10,318 Net cash generated from investing activities 10,318 28,658 Net cash used in financing activities Net {decrease)lincrease in Gash and cash equivalents (481,8891 162.007 Cash and cash equivalents at beginnin9 of year 2,412,765 2,250,758 Cash and cash equivalents at end of year 1,930.876 2,412,765 15- GREATER MANCHESTERACCESSIBLE TRANSPORT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcles Charity infomiation Greater Manchester Accessible Transport Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 20th Floor. Manchester One. 53 Portland Slreel, Manchester, M1 3LD, United Kingdom. 1.1 Accounting conventlon The financial slalements have been prepared in accordance with the charity's Igoverning document]. the Companies Act 2006 and "Accounting and Reporting by Charilies.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 (effective l January 20191" The charity is a Public Benefrt Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded lo the nearest £. The financial statements have been prepared under the historical Cost convention. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the directors have a reasonable expectalion Ihal the charity has adequate resources lo continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing ihe financial statements. 1.3 Charitable funds The Unrestricted Fund comprises the Charity's General Fund, which consists of funds that the Charity may use at its discretion. The Designated Funds include the vehicle resetve, which is used for the specific purpose of addressing the effects of Social Exclusion in Transport, and the specific reserve funds set aside for development, building refurbishment works. and the pursuit of future opportunities to enhance the efficiency of the Charity, all of which are crilical to secure the fulufe of the Charity. 1.4 Income Revenue grant Grants received towards revenue expenditure are recognised within incoming resources in the same period as the related expenditure. Grants received lowards capital expenditure are recognised as income and allocated lo the anticipated use for that grant in the Charitls designated reserves. Bus SeThice Operators Grant (BSOG) BSOG income is recognised in the year that the related expenditure is incurred on fuel. and allocated to the vehicle replacement reserve within designated funds. Fares income Users of the Charity's services pay a fare in accordance with the TfGM pass held. If they hold a concessionary permit issued under the auspices of Transport for Greater Manchester Commrttee and Transport for Greater Manchester, or are under 16 years old, a standard concessionary fare is charged. Fares income is recognised at receipt. 16- GREATER MANCHESTER ACCESSIBLE TRANSPORT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng policies (Continued) 1.5 Expendlture Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third paty, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is Glassified by activity. The costs of each activity are made up of the total of dir￿ costs and shared costs, including support costs involved in undertaking each aclivily. Dired costs attributable to a single activity are allocated directly lo that activity- Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resoLtrces. Central staff costs are allocated on the basis of time spent, and depreciation Charges are allocated on Ihe portion of the asset's use. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairmenl losses. Depreciation is recognised so as to write off the cost or valualion of assets less their residual values over their useful lives on the following bases.. Premises improvements Compulers Motor vehicles Straight line over the term of Ihe lease 3 - 6 years slraight line 10 - 16 years straight line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Fixed asset investments Fixed assel investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net incomel(expenditure) for the year. Transaction costs are expensed as incurred. A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefrts from rts adivities. 1.8 Impaimient of fixed assets Al each reporting end date. the charity reviews the carrying amounts of its tangible asset5 to determine whether there is any indication thal those assets have suffered an impairment loss. If any such Ind￿atIOn exists, the recoverable amount of the asset is eslimated in order lo determine the extent of the impairment loss (rf any). 1.9 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown wrthin borrowings in current liabilities. 17- GREATER MANCHESTERACCESSIBLE TRANSPORT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) 1.10 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 lo all of its financial instruments. Financial instruments are recognised in the charily's balance sheet when the ¢harity becomes party to Ihe contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right lo sel off the recognised amounts and there is an intention to settle on a net basis or to rèalise the assèt and settle the liability simultaneously. Basic financial assets Basic financial assels, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried al amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the presenl value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing Iransadion, where the debt instrument is measured at Ihe presenl value of the future payments discounted al a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as currenl liabilities rf payment is due within one year or less. If not, they are presented as non-currenl liabilities. Trade creditors are recognised initially at transaction price and subsequently measured al amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charrty's contractual obligations expire or are discharged or cancelled. 1.11 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Temiination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide temiination benefits. 1.12 Retirement benefits Payments to defined contribution retiremenl benefit schemes are charged as an expensè as they fall due. Crltical accountlng estimates and Judgements In the application of the company's accounting policies, the directors have not been required to make Critical judgements. estimates and assumptions about the carrying amount of assets and liabilities. There have also not been any key sources of estimation unortainty that have a significant effect on the amounts recognized in the financial statements. 18- c c c