Charfty registration number 1007487 Company registration number 02483763 (England and Wales) GREATER MANCHESTER ACCESSIBLE TRANSPORT LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
GREATER MANCHESTER ACCESSIBLE TRANSPORT LIMITED LEGALAND ADMINISTRATIVE INFORMATION Directors Councillor Philip Burke Alison Chew Councillor Tracey Rawlins Joshua Charters Jamie Finnegan (Appointed 20 August 2025) {Appointed 11 February 2025} (Appointed 25 July 2025) (Appointed 25 July 2025) Jacqueline Owen Aidan Williams Secretary Jacqueline Woodward Charlty number 1007487 Company number 02483763 Members Greater Manchester Combined Authority ("GMCA") Registered office 20th Floor Manchester One 53 Portland Street Manchester United Kingdom M13LD Auditor Azets Ship Canal House 98 King Street Manchester M2 4WU
GREATER MANCHESTER ACCESSIBLE TRANSPORT LIMITED CONTENTS Page Chairfs message Dir8Ctors' report ststement of d1Ctors, responsibilities 9-10 Independenl auditorfs report Statemenl of financial activities 14-15 Balance sheet 16 Statement of cash flows 17 Notes to the financlal statements 18-28
GREATER MANCHESTER ACCESSIBLE TRANSPORT LIMITED CHAIR'S MESSAGE FOR THE YEAR ENDED 31 MARCH 2025 Demand for the Ring and Ride Service has remained consistent. During Ihe last year with over 213,000 essential joumeys completed. ensuring that passengers had access to a range of facilities and activities including fresh food shopping, health, education. leisurelsocial interaction and to places of worship. The number of active registered passengers increased to over 13,O¢JO by the end of the year. The Service has continued to provide door to door transport between 8am and 11 pm every day acros5 all ten districts of Greater Manchester. Hire vehicles have been utilised to mainlain a fleet of 46 fully accessible vehicles. with 9Yo of joumeys involving a wheelchair or scooter. 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 meelings both in person and online. The Charity was inducted as a full member of the Greater Manchester Good Employment Charter in March 2025. after introducing a range of initiatives lo support our employees. T Rawlins Chair Dale.. 17112125
GREATER MANCHESTER ACCESSIBLE TRANSPORT LIMITED DIRECTORS, REPORT FOR THE YEAR ENDED 31 MARCH 2025 The directors present Iheir annual report and financial statements for the year ended 31 March 2025. The financial statements have been prepared in accordance wilh the accounting policies sel out in note 1 to Ihe financial statements and comply with the charity'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 IFRS 102)" {effeclive 1 January 2019}. Objectives and activities GMATL is a charitable company limited by guarantee, formed Io co-ordinate and manage Ring and Ride services in the Transport for Greater Manchester Committee ("TfGMC"J area of operation in order lo provide accessible transport for the needs of Greater Manchester. The Charity Directors have complied with the duty in section 17 of the Charities Act 2011 to have due regard lo public benefit evidenced in this section of the report. The Charity's purposes as set out in the objects contained in the Charity's memorandum of association are.. To run a community Iransport service for the benefit of Ihe inhabitants of Greater Manchester and in parlicular the relied of poverty, sickness, old age. and distress through the provision of such a transport Service., and The promotion of general charitable purposes in Greater Manchester. The objectives of the Charity are.. To provide door to door, and such other transport and associated support setvices as are appropriate for people who are unable to use conventional public transport", To provide its services al such qualitalive and quantitative levels as are agreed under a Service Level Agreement with Transport for Greater Manchester to all areas of Greater Manchester., To deliver its sesvices in the most cost effective manner consistenl wrth the quality and quantity of service agreed., To continue to seek means of improving its services in quality, quantity, and value for money terms,. To conduct ils activities in accordance with the policies of the Transport for Greater Manchester Committee- To conduct rts services in accordance with its charitable status., and To liaise and co-operate with other transport providers. to achieve value for money and deliver as integrated a Iransport service as is possible to Ihe public. How we work The Charity delivers ils charitable aims through the direct delivery of an accessible transport service. operating within Greater Manchester. Who used and benefitted from our Services? Our assets and funding limii ihe services we provide lo those resident in Greater Manchesler. The services provided utilise a fleet of minibuses lo provide door-to-door transport across the wnurbation. Passengers register 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 permit or lo be members of the TfGM Travel Voucher Scheme. Demand for the Service has increased slighlly, with over 300,000 journeys requested during the year. Ring and Ride Se1$ Provide trips up to a maximum of six miles from a passengerfs home. A policy is in place which allows trips beyond six miles in exceptional circumstances, 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 Seice$. The directors have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
GREATER MANCHESTER ACCESSIBLE TRANSPORT LIMITED DIRECTORS, REPORT FOR THE YEAR ENDED 31 MARCH 2025 Achievement and Performance Achievements Over the year, the charity has successfully met its core objeclives. delivering essential transport services that improve independence, social inclusion. and quality of life for vulnerable residents across Greater Manchester. Despile operalional challenges such as ageing fleet resulting in high repair cosls and difficulty with recruitment, the charity continued to provide a high-quality, value-for-money seNice consistent with its mission and the expectations of TfGM, its beneficiaries. and its Directors. Overall Performance Demand for Ihe Service increased with 300,083 journeys requested. Refused requests increased to over 12.10 and cancellations rates remained consislent al 20 /0 of bookings. As a result the actual number of journeys completed1213,279) was slightly less than in the previous year. The number of completed journeys involving wheelchair users averaged almost 90/0 of completed journeys overall, but varied by district. Individual District Perfom)ance The following table oullines the individual Ring and Ride performance by district.. Registered Depot Registered users costs user Journeys Total Net cost Wheelchair Wheelchair passenger per journey journeys user journeys Journeys OOO'S No £'OOOs OOO'S Bolton Bury 1,436 943 395 382 22 14 23 14 13 21 1.367 855 6.67 6.62 Rochdale 827 213 11 11 14 1,923 19.10 Salford 1.061 361 22 22 12 1.712 8.83 Wigan 1.563 503 14 15 27 619 4.83 Manchester 2.094 691 31 32 16 3,623 12.92 Oldham 1,294 498 26 26 14 1,886 Stockport 1.165 374 17 18 17 1,811 12.08 Tameside 1.238 482 22 22 16 1,109 5.52 Trafford 1,500 701 29 30 18 2.185 8.32 Ring and Ride Total 13,121 4,600 208 213 168 17.090 93.00
GREATER MANCHESTER ACCESSIBLE TRANSPORT LIMITED DIRECTORS. REPORT FOR THE YEAR ENDED 31 MARCH 2025 Just over 13.000 passengers were regislered lo use the Ring and Ride seryice at 31 st March 2025 of which 34 % had used the seNice during the financial year. The majority of Ring and Ride requests were met with 87.60% of requests booked and 12.409/0 refused. Overall patronage was reduced by 52,638 {20.02 % ) when passengers cancelled joumeys after they had booked. Human Resources AII HR Policies and Procedures are revised annually, to ensure ihat the Charity meets all legal, statutory and conlraclual obligations. Full membership of the Greater Manchesler Good Employmenl Charter was confimied in March 2025. The employee establishment at 31 March 2025 was 98 (80 full time, 18 part time}. Annual pay negotiations take place wilh Unite the Union for all employees up to and including managers. Head Office staff and Senior Management have personal salaries which are subject to an annual review aligned with the pay negotiations conducted with Unite the Union. The outcome of the pay negotiations is reported to the GMATL Board at the first meeling following the settlement. Vehicles The Charity. with the support and assistance of TFGM. 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 fitted wilh radios before being put into seNiCe. All vehicles are as accessible as possible and have additional safely features incorporated into the design including rear lifts and wheelchair and passenger restraint systems. Mobile Data Terminals {MDTs) are now in use on all vehicles. These provide drivers with their daily manifest, and include satellite navigation assistance.
GREATER MANCHESTER ACCESSIBLE TRANSPORT LIMITED DIRECTORS, REPORT FOR THE YEAR ENDED 31 MARCH 2025 Financlal review Income and Expenditure During the financial year ending 31 March 2025. the charity generated a total income of £4,042.000, compared with £4,003,000 in the previous year. The Expenditure for the same period amounted to £4.754,000, up from £4.546,000 in 2024. This increase of £208.000 in expenditure was primarily attributed to higher wage costs, the impact of National Insurance rises, and increased insurance expenses. Financial Result The charity reported an overall deficit of £712,000 for the year. This deficil was managed by drawing down on the organisalion's reseNes. Year-End Fund Position The Statement of Financial Activities, prepared per charity accounting standards (FRS 102), separates Ihe Charity's funds into "unrestrided general. and "unrestricted designated., Unrestricted General funds support daily operations, while unrestricted designated funds cover premises, computer and vehicle deprecialion. At the close of the financial year, the charity held totsl funds amounting to £1,707,000. To ensure the reserves more accuralely reflect the current funding streams, a reclassification was made from designated reserves to general reserves. The closing balance for unrestricted general reseprfes totalled £1,411,000, while unrestricted designated reserves stood at £296,000. Reserves Policy The Charity is committed to regularly reviewing its serveS policy, particular in light of ongoing funding pressures. In managing both restricled and unreslricted funds, the Charity undertakes a Ihorough assessment of current assets and projected income. This process ensures that the funds available remain adequate and accessible, enabling the Charity to meet its obligations and advance ils objectives effectively. The Charity has a specific policy regarding unrestricted funds Ihal have not been designated for a particular purpose. These fvnds should be maintained at a level equivalent to between three and six months of expenditure. The directors believe that maintaining reserves at this level provides a safeguard in the evenl of a significant reduclion in funding. This approach ensures Ihe Charity can continue its existing activities while exploring ways to generate additional income. The Charity had no investments other than cash held on deposit wilh the Charity's bankers= the Cooperative Bank plc and HSBC bank. The Directors have reviewed the major risks facing the charity and are satisfied that effective systems are in place to manage and mitigate these risks. Key risks include income uncertainly and inflationary pressures, securing funding for vehicle replacement, maintaining the licence to operate. and challenges linked to an ageing workforce and recruitmenl. Mitlgation measures include quarterly financial and risk reviews, annual budget meetings with TIGM. active vehide lease procurement, internal and external compliance audits, and strengthened recruitment, induction, and training processes. Risk management processes are reviewed quarterly wilh the Strategic Risk regisler being approved by the Board annually.
GREATER MANCHESTER ACCESSIBLE TRANSPORT LIMITED DIRECTORS, REPORT FOR THE YEAR ENDED 31 MARCH 2025 Plans for future periods Service quality The Charity will improve where possible the quality aspects of the seprfice by carrying out the following: . Working with TfGM to devise a vehicle replacement strategy. . Updating Service Users on any future changes to the Service. Liaising with the TfGM contact centre to improve scheduling efficiencies. Reviewing time allocation and road speeds used in scheduling. Vehicle Fleet Vehicle design features will continue to be reviewed as new vehicles are introduced to the fleet to ensure that the vehicles provide the most suitable, safe and efficienl mode of transport for Ring and Ride passengers. This will include a review of the use of internal and external tail lifts and vehicles with ramps. A number of older vehides in the owned fleet will be replaced by hire vehicles from 2025 onwards. and a procurement exercise will be undertaken to provide best value. Premises The Charity Head Office 15 based in central Manchester and service operations across Greater Manchester is provided from four depots. The depot locations are reviewed before the leases expire to ensure that premises are situated in the most cosl effective and efficient locations. Consideration is given to sharing premises with local authorities to reduce costs and produ a revenue stream to the local authority. Best Value The Charity will continue lo review all conlracls and purchase agreements to ensure Ihal Best Value is obtained. Service provision The resoUrS utilised will continue to be reviewed in response to increasing passenger demand and to provide a safe, efficient and cost effective service. Stw¢ture, governance and management The sole member is Greater Manchester Combined Authority ("GMCA"). Directors carry out dual roles., as a Councillor for a local aulhorily or as a senior Transport for Greater Manchester employee. and as a Director of the Charity. It is considered that they receive adequate training to cary out their role as a Director. The directors who served during the year and up to the date of signature of the financial statements were= Councillor Philip Burke Alison Chew Daniel Costello David Daughney Councillor Sean Fielding Councillor David Meller Councillor Tracey Rawlins Joshua Charters Jamie Finnegan Jacqueline Owen Aidan Williams {Resigned 11 February 2025) (Resigned 31 December 2024) (Resigned 25 July 2025) (Resigned 25 July 2025) (Appointed 20 August 2025) (Appointed 11 February 2025) (Appointed 25 July 2025) {Appointed 25 July 20251
GREATER MANCHESTER ACCESSIBLE TRANSPORT LIMITED DIRECTORS, REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Directors delegate the day to d8y running of the Charity to John Eccles, Head of Service Delrvery. The Board of Dire¢tors A majority of the members of the Charily have the power to appoint and to remove from the Board Directors al 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 Meeting 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 Chartty are made al Board Meetings at which a minimum of 4 Directors {no maximum) must be present. All Directors have one vote. The Board is responsible for taking decisions on the on-going strategic direction of Greater Manchester Accessible Transport Limited {"GMATL"). The Board normally meets four times a year. United Kingdom law requires the Charity to prepare financial statements for each financial year. which give a Irue and fair view of the stale 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 practice without any material departures, and prepared the financial statements on a going concern basis. The financial statements comply with the charity's goveming document. Local consultation Communication with Service users and group organisers has been maintained by telephone, emails, and in person in order lo promote the Ring and Ride service. Risk Management and Internal Control The Board is responsible for the management ofthe risks faced by the Charity- Risks are identified, assessed and controls established throughoul the year. A formal review of the Charity's risk management processes 15 undertaken on an annual basis. Through the risk managemenl processes established for the Charity, the Directors are satisfied that the major risks identified have been adequately miligaled where necessary. It is recognised that systems can provide reasonable but not absolute assurance that major risks have been adequately managed. The Board reviews the accounting and financial reporting practices. its internal financial controls, the work of internal 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 wilh the support of Unite the Union will not tolerate discrimination because of age, disability, gender reassignment. marriage and civil partnership. pregnancy and maternity. race, religion or belief, sex, sexual orientation, trade union membership. working patterns, responsibilities for dependents or offending background thal does nol create risk to children and vulnerable adults. Auditor In accordan with ihe company's articles, a Tesolulion proposing that Azets Audil Services be reappointed a General Meeting. Azels Audil Services have been approved by Direclors to provide audit services up until 2025.
GREATER MANCHESTERACCESSIBLE TRANSPORT LIMITED DIRECTORS. REPORT FOR THE YEAR ENDED 31 MARCH 2025 The directors. report was approved by the Board of D1clOr$. This report has been prepared in accordance with the provisions applicable to companies entitled to the small-sized companies exemption. Councillor Tracey Rawlins Dlrector Date.. 17112125
GREATER MANCHESTER ACCESSIBLE TRANSPORT LIMITED STATEMENT OF DIRECTORS. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025 The directors, who also act as trustees for the chari18ble activities of GMATL, are responsible for preparing Ihe Directors, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company Law requires the directors to prepare financial stalements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resou$ and application of resources, including the income and expenditure, of the charitable company for that year. In preparing these financial slalemenls, the directors are required to.. select suitable accounting policies and then apply them consislently., observe the methods and principles in the Charities SORP.. make judgements and estimales that are reasonable and prudent., and prepare the financial statements on the going concern basis unless il is inappropriate to presume Ihal the charity will continue in operation. The directors are responsible for keeping adequate accounting records Ihal disclose with reasonable accuracy at any time the financial p051tion 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 hence for laking reasonable steps for the prevention and detedion of fraud and other irregularities. United Kingdom law requires the Charity 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 judgements that are reasonable and prudent, followed applicable accounting standards and statements of recommended practice without any material departures, and prepared the financial statements on a going concern basis. The financial slalemenls comply with the charity's governing document. The board is responsible for keeping proper accounting records which disclose, with reasonable accuracy al any time, the financial position of the Charily and which enables it to ensure that 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 other irregularities. The Board is also responsible for Ihe corporate and financial information included on GMATL'S website.
GREATER MANCHESTERACCESSIBLE TRANSPORT LIMITED STATEMENT OF DIRECTORS, RESPONSIBILITIES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Dire¢tors' interest in contracts No Director had any material inlerest, either during or al the end of this financia5 year, in any contract in which the Charity was a party. Financial risk management The Charity holds or issues financial instrumenls in order to achiève three main objectives. being.. (a) to finance its operations: (b) to manage its exposure lo interest risks arising from ils operations and from its sources of finan.. and (c) for trading purposes. In addition, the Charily has various other financial assets and liabilities such as trade debtors and trade creditors arising directly from the Charity's operations. Transactions in financial instruments result in the Charity assuming or transferring to another party one or more of the financial risks described below. Credit risk Investments of cash surpluses are made through banks and companies which must fuffil credit rating criteria approved by the Board All customers who wish to trade on credit terms are subject lo credit verification procedures. Trade debtors are reviewed on a regular basis and provision is made for doubfful debts when necessary. Liquidity risk The Charity manages its cash in order to maximise inlerest income. whilst ensuring the Charity has sufficient liquid resources to meet the operating needs of the business. Share capital The Charity is limited by guarantee and has no share capital. 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 established in the Charity and are satisfaclory. 10-
GREATER MANCHESTERACCESSIBLE TRANSPORT LIMITED INDEPENDENT AUDITOR'S REPORT TO THE DIRECTORS OF GREATER MANCHESTER ACCESSIBLE TRANSPORT LIMITED Opinion We have audiled the financial statements of Greater Manchester Accessible Transport Limited (the 'charity'i for the year ended 31 March 2025 which comprise the stalemenl of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, inclLAding significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and Untted Kingdom Accounting Standards, including Financial Reporting Slandard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland {United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements.. give a Irue and fair view of the state of the charitable company's affair5 as at 31 March 2025 and of ils incoming resources and applicats'on of resources, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance wilh Inlemalional Standards on Auditing (UK) IISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audil of the Inancial statements section of our report. We are independent of the charity in accordance wilh the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Slandard, and we have fulfilled our other ethical responsibililies in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have conduded that Ihe directors. use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relaling lo events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue a5 a going concern for a period of al least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilits'es of the directors with respect to going concern are described in the relevant sections of this report. Other inforrnation The olher information comprises Ihe information included in Ihe annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other infomialion contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion Ihereon. Our responsibilily is lo read the other infomialion and. in doing so, consider whelher the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of Ihe audit, or otheIse appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to delemiine whether this gives rise to a material misstatement in the financial stalemenls themselves. If. based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Matters on which we are required to report by exception We have nothing lo report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report lo you if. in our opinion.. the informalion given in the financial statements is inconsistent in any material respect with the directors, report.. or sufficient accounting records have not been kept,. or Ihe financial stalemenls are not in agreement with the accounting records., or we have not received all the infomiation and explanations we require for our audit. 11
GREATER MANCHESTERACCESSIBLE TRANSPORT LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE DIRECTORS OF GREATER MANCHESTER ACCESSIBLE TRANSPORT LIMITED Responsibilities of dlrectors As explained more fully in the statement of directors, Tesponsibilities. the diredors 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 detemiine is necessary to enable the preparation of financial stalemenls that are free from material misstatement, whether due lo fraud or error. In preparing the financial statements, the directors are responsible for assessing the charity's ability lo continue as a going concem, disclosing. as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the charitable company or to cease operations, or have no realistic altemative but to do so. Auditorfs responsibilities for the audit of the financial statements We have been appointed as auditor under section 144 of Ihe Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether Ihe financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an audi105 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 detect a material misstatement when it exisls. Misstatements can arise from fraud or error and are considered material if, individually OT in the aggregale, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial stalements. A further description of our responsibilities is available on the Financial Reporting Council's website at.. https'.11 W.frc.Org.uk1adIt0rsresponSlbll1tles. This description forms part of our auditor's report. Extent to which the audit was considered capable of detecting irregularities, including fraud Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities. outlined above and on Ihe Financial Reporting Council's website. to detect material misstatements in respecl of irregularities, including fraud. We oblain and update our understanding of the entily, its activities, ils conlrol environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entily is complying with thal framework. Based on this understanding, we identify and assess the risks of material misstalemenl of Ihe financial statements, whelher due to fraud or error, design and perfomi audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideralion of the risk of acts by the entity that were contrary io applicable laws and regulalions, induding fraud. In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which induded-. Enquiry of managemenl and those charged with governance around actual and potential liligation and claims as well as actual. suspected and alleged fraud,. Reviewing minutes of meelings of those charged with governance.. Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on Ihe financial statements or the operations of Ihe entity Ihrough enquiry and inspection; Reviewing financial statement disclosures and testing to supporting documentation lo assess compliance with applicable laws and regulations; Performing audil work over the risk of management bias and override of controls, including testing of journal entries and other adjuslments for appropriateness. evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting eslimales for indicators of potential bias. Because of the inherent limitalions of an audit, there is a risk thal we will not detect all irregularities, including those leading to a material misslalement in the financial stalements or non-compliance with regulation. This risk increases the more that compliance with a law or regulalion is removed from the events and transactions reflected in Ihe financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a malerial misstatement resutting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. 12
GREATER MANCHESTER ACCESSIBLE TRANSPORT LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE DIRECTORS OF GREATER MANCHESTER ACCESSIBLE TRANSPORT LIMITED Use of our report This report is made solely lo the charily's trustees. as a body, in accordance with part 4 of Ihe Charities {Accounls and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the chariws trustees those matters we are required to state to them in an audito¢s report and for no other purpose. To the fullest extent permitted by law. we do nol accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work. for this report, or for the opinions we have formed. Jonathan Ward (Senior Statutory Auditor) for and on behalf ofAzets Chartered Accountants Statutory Auditor Ship Canal House 98 King Street Manchester M2 4WU Azets is eligible for appointment as auditor of the charity by virtue of its eli9ibility for appointmenl as auditor of company under section 1212 of the Companies Act 2006. 13-
GREATER MANCHESTER ACCESSIBLE TRANSPORT LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted funds General Designated 2025 2025 Total Unrestricted Unrestricted general Designated 2024 2024 Total Notes Income and endowments Irom: Charitable activities Revenue grant Bus ServIs Operators, Grant (BSOG) 2025 2024 3,536,176 3.536,176 3,486.451 3.486.451 Fares income Investment income Service charge income 136.769 287,830 18,708 136.769 287,830 18.708 306,814 10.318 134,943 134,943 306,814 10,318 62,851 62.851 64,376 64,376 Total in¢ome 4,042,334 4,042.334 3,867.959 134.943 4,002,902 enditure on: Charitable activrties Withdrawal and depreciation of tangible fixed assets Governance costs 4,600,971 4,600.971 4,382.322 4.382.322 3,042 15,373 135,128 138,170 15.373 3,597 25.245 135,127 138,724 25,245 Totsl charitable expenditure 4.619,386 135,128 4.754,514 4.411.164 135.127 4,546.291 Net gainsl{losses) on investments (1) (1) Net outgoing resour¢es before transfers {577,052) (135,128) 1712,180) (543,2061 Gross transfers behveen funds (184) {543,390) 1,366,348 {1,366.348) 69.000 (69.O¢X)) Net incomel{expenditure} for the yearl Net movement in funds 789,296 {1.501,476) 1712,180) {474,206) Fund balanos al 1 April 2024 (6g,184) (543,390) 622,079 1,797,649 2,419.728 1,096,285 1,866.833 2,963.118 Fund balan¢es at 31 March 2025 1.411.375 296,173 1,707,548 622,079 1,797,649 2.419,728 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activrties. 14-
GREATER MANCHESTER ACCESSIBLE TRANSPORT LIMITED STATEMENT OF FINANCIALACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 The statement of financial activities also complies with Ihe requirements for an income and expenditure account under the Companies Acl 2006. 15-
GREATER MANCHESTER ACCESSIBLE TRANSPORT LIMITED BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Notes Fixed assets Tangible assets 10 296,173 434.343 Current assets Debtors Cash at bank and in hand 11 332.712 1.381,470 370.137 1,930,876 1,714.182 2,301,013 Creditors: amounts falling due within one year 12 (302,807} {315,628) Nel current assets 1,411.375 1,985,385 1.707.548 2,419,728 Total assets less current liabilities Income funds Unrestricted funds - Designated General unrestricted funds 296.173 1,411,375 1,797.649 622,079 1,707,548 2.419.728 The company is enlilled to the exemption from the audil requirement contained in section 477 of the Companies Act 2006, for Ihe year ended 31 March 2025, although an audit has been carried out under section 144 of the Charities Acl 2011. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect lo accounting records and the preparation of financial statements. The member has not required the company to obtain an audit of ils financial slalements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable lo companies subject to the small companies regime. The financial statements were approved by the Directors on 17112125 Councillor Tracey Rawlins Trustee Company registratlon number 02483763 16-
GREATER MANCHESTER ACCESSIBLE TRANSPORT LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes Cash flows from operating activities Cash absorbed by operations {568,114) {492.207) 18 Investing activities Investment income received 18,708 10,318 Net cash generated from Investing Activities 18,708 10,318 Net cash used in financing activities Net decrease in cash and cash equivalents (549,406) {481,889} Cash and cash equivalents al beginning of year 1,930.876 2,412,765 Cash and cash equivalents at end of year 1,381,470 1.930,876 17
GREATER MANCHESTERACCESSIBLE TRANSPORT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Charity inforn)ation Greater Manchester Accessible Transport Limited is a private company limited by guarantee incorporated in England and Wales. The registered olTice is 20th Floor, Manchester One. 53 Portland Street. Manchester, M1 3LD, United Kingdom. 1.1 Accounting convention The financial statements have been prepared in accordance wilh the charity's goveming documenl, the Companies Acl 2006 and 'Accounling and Reporting by Charities.. Stalement of Recommended Practice applicable to charities preparing Iheir accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 20191" The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in slerling, which is the functional currency of the charity. Monetary amounts in these financial slatements are rounded to the nearest £. The financial statemenls have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Going concern At the tiffle of approving the financial slatements, the directors have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the direclors continue to adopt the going concern basis of accounting in preparing the financial slatements. 1.3 Charitable funds The Unreslricled FLJnd comprises the Charity's General Fund. which consists offunds that the Charity may use at ils discretion. The Designaled Funds include the vehicle reserve, which is used for the specific purpose of addressing the effects of Social Exclusion in Transport, and the specifi'c reserve funds set aside for development, building refurbishment works, and Ihe pursuit of future opportunities to enhance the efficiency of the Charity, all of which are critical to secure the future of ihe Charrty. 1.4 Income Revenue grant Grants received towards revenue expenditure are recognised wilhin incoming resources in the same period as the related expenditure. Grants received towards capital expenditure are recognised as income and allocated to the anticipated use for that grant in the Charity's designated reserves. Bus Service Operators Grant (BSOG} BSOG income is recognised in the year that the related expenditure is incurred on fuel, and allocated to the vehicle replacement reseNe within designated funds. Fares income Users ofthe 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 Committee and Transport for Greater Manchester. or are under 16 years old, a standard concessionary fare is charged. Fares income is recognised at receipt. 18-
GREATER MANCHESTERACCESSIBLE TRANSPORT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Contlnued) 1.5 Expenditure Expenditure is Tecognised once there is a legal or construdive obligation to transfer economic benefit lo a third paty. il is probable that a transfer of economic benefits will be required in settlement, and Ihe amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each acttvity are made up of the total of direct costs and shared costs, induding support costs involved in undertaking each activily. Direct costs attributable to a single aclivily are allocated directly to Ihal activity. Shared costs which contribute to more than one activity and support costs which are nol attributable to a single activity are apportioned between those activities on a basis consistenl with the use of resources. Central staff costs are allocated on the basis of lime spent, and depreciation charges are allocated on the portion of the asset's use. 1.6 Tangible lixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valualion, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cosl or valuation of assets less their residual values over their useful lives on the following bases.. PmiseS improvements Computers Motor vehicles Slraight line over the term of the lease 3 - 6 years straighl line 10 - 16 years straight line The gain or loss arising on the disposal of an asset is determined as the difference beeen the sale proceeds and Ihe cafrying value of the asset. and is recognised in the statement of financial activities. 1.7 Impairrnent of fixed assets Al each reporting end dale, the charity reviews the carrying amounts of it$18ngible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, Ihe recoverable amount of the asset is estimated in order lo determine the extent of the impairment loss lif any). 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand. deposits held at call wilh banks, other short-term liquid investments with original maturities of three monlhs or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.9 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are Tecognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset. with the net amounls presented in the financial statements, when there is a legally enforceable right lo sel off the recognised amounts and ihere is an intention to settle on a nel basis or to realise the asset and settle the liabilily simultaneously. 19-
GREATER MANCHESTER ACCESSIBLE TRANSPORT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Ac¢ounting policies IContinued} Basic financial assets Basic financial assets, which include deblors and cash and bank balances, are initially measured al transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assels classified as receivable within one year a not amortised. Basic financial liabilities Basic financial liabilities, including creditors are initially recognised at transaction pri unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one yeai are not amortised. Trade creditors are obligalions 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 if payment is due wilhin one year or less. If not, Ihey are presented as non-current liabilities. Trade creditors are recognised inilially at Iransaction price and subsequently measured at amortised cost using Ihe effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.10 Employee benefits The cost of any unused holiday enlitlement is recognised in Ihe period in which the employee's servi$ are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide lemiination benefits. 1.11 Retirement benefits Paymenls lo defined contribution retirement benefrt schemes are charged as an expense as they fall due. Critical accounting estimates and judgements In the applicalion of ihe company's accounting policies, the direclors have not been required to make critical judgemenls, estimates and assumptions about the carrying amount of assels and liabililies. There have also not been any key sources of estimation uncertainly that have a significant effect on the amounts recognized in the financial slatements. -20-
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GREATER MANCHESTER ACCESSIBLE TRANSPORT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Investment income Unrestricted Unrestricted funds funds general general 2025 2024 Interest receivable 18.708 10.318 Service charye income Unrestricted Unrestricted funds funds general general 2025 2024 Service charge income 62,851 64,376 -22-
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GREATER MANCHESTER ACCESSIBLE TRANSPORT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Directors None of Ihe directors {or any persons connected with them) received any remuneration or benefits from the charity during the year. Employees The average monthly number of employèes durin9 Ihe year was.. 2025 2024 Number Number Administrative Operational Total 18 84 20 86 102 106 Employment costs 2025 2024 Wages and salaries Social security costs other pension costs 2,476,633 215,051 71,463 2,353,223 192,639 66.521 2,763,147 2,612,383 All staff are attributable to the one principal activity of the Charity. The Charity makes contributions into certain individuals, personal pension schemes. The assets of Ihe schemes are held in separately administered funds. The pension charge for the year represents contributions payable by the Charity and amounted to £71.463 (2024.. £66,521). At the balance sheet date the Charity owed £20,410 (2024.. £12.016) to the schemes. The number of employees whose annual remuneration was more than £60,000 is as follows.. 2025 Number 2024 Number £60,000 to £70,000 Taxation The charity is exempi from lax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitae objects. -24-
GREATER MANCHESTER ACCESSIBLE TRANSPORT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 10 Tangible fixed assets Pr•mlsos Improvomwts Computors Motor v•hiclos Total Cost At 1 April 2024 10,394 56,817 1,535,086 1,602,297 At 31 March 2025 10,394 56.817 1,535,086 1,602,297 Depreciation and impairnient Al 1 April 2024 Depreciation charged in the year 10.394 53,775 3,042 1,103,785 135,128 1,167,954 138,170 At 31 March 2025 10,394 56,817 1,238.913 1,306,124 Carrying amount Al 31 March 2025 296,173 296,173 At 31 March 2024 3,042 431,301 434.343 11 Debtors 2025 2024 Arnounts falling due within one year: Trade debtors VAT recoverable Bus SeNice Operators Grant Other debtors Prepayments and accrued income 22.335 28,700 137,588 27,849 116,240 23,011 69.296 134.943 16,541 126,346 332,712 370,137 12 Creditors: amounts falling due within one year 2025 2024 Other taxation and social security Trade creditors Other creditors Accruals and deferred income 50,990 132,265 22,965 96,587 46,692 136,317 13,013 119,606 302,807 315,628 -25-
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GREATER MANCHESTER ACCESSIBLE TRANSPORT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 14 Analysis of net assets between fund$ Unrestricted Unrestricted general fund designated fund 2025 Total Unrestricted Unrestricted general fund designated fund 2024 Totsl 2025 2025 2024 2024 Fund balances at 31 March 2025 are represented by.. Tangible assets Current assetsl(liabilities) 296,173 191,742) 1,503.117 296,173 1,411,375 3,042 619,037 431,301 1,366,348 434,343 1,985,385 (91,742) 1,799.290 1,707,548 622,079 1.797,649 2.419.728 15 Operating lease commitments Al the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows.. 2025 2024 Within one year Behveen two and five years 237,635 93,494 132,094 214.710 331,129 346,804 16 Value Added Tax The Charity is registered for Value Added Tax, with both the grant received from Transport for Greater Manchester and the fares paid by users deemed lo be taxable. These are zero rated under Item 4 Group 8 of Schedule 8 of the Value Added Tax Act 1994. As such, the Charity is able to fully reclaim all input lax paid. 17 Ultimate control The charity's parent undertaking is Transport for Greater Manchester which is ultimately controlled by Greater Manchester Combined Authority I'GMCA.). GMCA exercise control over GMATL through Transport for Greater Manchester Committee who receive regular reports on and can question the operation of GMATL. 27-
GREATER MANCHESTER ACCESSIBLE TRANSPORT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 18 Cash generated from operatlons 2025 2024 (712,180) {543,390} Deficit for the year Adjuslmenls for". Investment income recognised in statement of financial activities (GainlAoss on disposal of investments Depreciation and impaimienl of tangible fixed assets 118,708) (10.318) 138,170 138,724 Movements in working capital= Oecreasel(incre8sel in debtors IDecrease)lincrease in creditors 37,425 12.821) (132,875) 55,651 Cash absorbed by operations (568,114) (492,207) 19 Analysts of changes in net funds The charily had no debt during the year. -28-