2021-04-30-accounts - Toll Rides (Off Road) Trust

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COMPANY REGISTRATION NUMBER: 02723698 CHARITY REGISTRATION NUMBER: 1020850

Toll Rides (Off Road) Trust Company Limited by Guarantee Unaudited Financial Statements 30 April 2021

DAVID PAYNE Accountants Sportsman Farm St Michaels Tenterden Kent TN30 6SY

Toll Rides (Off Road) Trust

Company Limited by Guarantee

Financial Statements

Year ended 30 April 2021

	Page
Trustees’ annual report (incorporating the director's report)	1
Statement of financial activities (including income and
expenditure account)	3
Statement of financial position	4
Statement of cash flows	5
Notes to the financial statements	6
The following pages do not form part ofthe financial statements
Detailed statement of financial activities	14
Notestothedetailedstatementoffinancialactivities	18

Toll Rides (Off Road) Trust

Company Limited by Guarantee

Trustees’ Annual Report (Incorporating the Director's Report)

Year ended 30 April 2021

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 30 April 2021.

Reference and administrative details

Registered charityname	Toll Rides (Off Road) Trust
Charity registration number	1020850
Company registration number	02723698
Principal office and registered	Sportsman Farm
office	St Michaels Tenterden
	Kent
	TN30 6SY
The trustees
	Mrs C Hodge
	M Morris
	J Norris
Company secretary	M Morris
Accountants	David Payne Accountants
	Sportsman Farm
	St Michaels
	Tenterden
	Kent
	TN306SY

Structure, governance and management

Responsibility for compliance is that of the Trustees, who consult as and when needed with appropriate professionals. Any issues out of the ordinary are communicated to the Trustees by email or telephone. The Trustees hold meetings on a very regular basis.

Objectives and activities

We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.

Strategic report

The following sections for achievements and performance and financial review form the strategic report of the charity.

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Toll Rides (Off Road) Trust

Company Limited by Guarantee

Trustees’ Annual Report (Incorporating the Director's Report) (continued)

Year ended 30 April 2021

Achievements and performance

A comprehensive membership database update was undertaken in the previous year and this has been a success, with all members contacted and requested to confirm or update the details that we hold for them. They were also asked to provide feedback on TROT, it's service and it's routes. Their responses will be used to prioritise tasks to be undertaken during 2021-2022.

Financial review

Regular Solvency Tests and Reviews of Income and Expenditure are drawn up and reviewed by the Trustees on a regular basis both at formal meetings and via email or informal meetings.

Plans for future periods

Objectives for 2021-2022 include increased policing of routes, continuation of the member recruitment programme.

The trustees’ annual report and the strategic report were approved on ..Q.9/09/202-4------: and signed on behalf of the board of trustees by:

M Morris Trustee

M Morris Charity Secretary

Toll Rides (Off Road) Trust

Company Limited by Guarantee

Statement of Financial Activities

(including income and expenditure account)

Year ended 30 April 2021

		2021	2021	2020
		Unrestricted
		funds	Totalfunds	Total funds
	Note	£	£	£
Income and endowments
Donations and legacies	5	81,521	81,521	70,490
Other trading activities Investment income	6 7	(2,130) 57	(2,130) 57	(1,696) 188
Total income		79,448	79,448	68,982
Expenditure
Expenditure on raising funds:
Costs of other trading activities	8	252	252	40
Expenditure on charitable activities	9,10	44,789	44,789	36,837
Total expenditure		45,041	45,041	36,877
Net income and net movement in funds		34,407	34,407	32,105
Reconciliation of funds
Total funds brought forward		129,660	129,660	97,555
Totalfundscarriedforward		164,067	164,067	129,660

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages6 to 12 form part of these financial statements.

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Toll Rides (Off Road) Trust

Company Limited by Guarantee

Statement of Financial Position

30 April 2021

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||||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |2021|2020| |Note|=|£|£| |CurrentCash|at bankassets and|in hand|323,780|211,374| |Creditors: amounts falling due within one year|15|154,713|76,714| |Net current assets|169,067|134,660| |Total assets less current liabilities|169,067|134,660| |Creditors:|amounts|falling|due|after more than| |16|5,000|5,000| |one|year| |164,067|129,660| |Net|assets| |FundsUnrestrictedof|the fundscharity|164,067|129,660| |.|17|164,067|129,660| |Total|charity|funds| |For the year ending|30 April 2021|the|charity was|entitled|to|exemption|from|audit|under section|477| |of|the Companies|Act 2006|relating|to|small|companies.| |Directors’|responsibilities:| |e|||The|members|have|not|required|the|company|to|obtain|an|audit|of|its|financial|statements|for| |the|year|in|question|in|accordance with section|476;|

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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime. These financial statements were approved by the board of trustees and authorised for issue on ..09/09/2021, and are signed on behalf of the board by: , M Morris Trustee

The notes on pages6 to 12 form part of these financial statements. a4

Toll Rides (Off Road) Trust

Company Limited by Guarantee

Statement of Cash Flows

Year ended 30 April 2021

	2021	2020
	£	£
Cash flows from operating activities
Net income	34,407	32,105
Adjustments for:
Other interest receivable and similar income	(57)	(188)
Interest payable and similar charges	13,279	8,738
Changes in:
Trade and other creditors	77,999	(64,865)
Cash generated from operations	125,628	(24,210)
Interest paid	(13,279)	(8,738)
Interest received	57	188
Net cash from/(used in) operating activities	112,406	(32,760)
Net increase/(decrease) in cash and cash equivalents	112,406	(32,760)
Cash and cash equivalents at beginning of year	211,374	244,134
Cashandcashequivalentsatendofyear	323,780	211,374

The notes on pages 6 to 12 form part of these financial statements.

a Bie

Toll Rides (Off Road) Trust

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 30 April 2021

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Sportsman Farm, St Michaels, Tenterden, Kent, TN30 6SY.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland’, 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) (Charities SORP (FRS 102)) and the Companies Act 2006.

Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

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Toll Rides (Off Road) Trust

Company Limited by Guarantee Notes to the Financial Statements (continuea)

Year ended 30 April 2021

Accounting policies (continued)

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

° income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
° legacy income is recognised when receipt is probable and entitlement is established.
° income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
e income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is recognised on an accruals basis asa liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

e expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
e® expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
e — other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

All fixed assets are initially recorded at cost.

a Fix

Toll Rides (Off Road) Trust

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 30 April 2021

3. Accounting policies (continued)

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Computer and Fixtures - 33% straight line Bridges & Gates - 33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

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Toll Rides (Off Road) Trust Company Limited by Guarantee Notes to the Financial Statements (continued)

Year ended 30 April 2021

3. Accounting policies (continued)

Financial instruments (continued)

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Limited by guarantee

Donations and legacies

		Unrestricted Total Funds	Unrestricted Total Funds	Unrestricted	Total Funds
		Funds	2021	Funds	2020
		£	£	£	£
	Donations
	Fees Received	81,521	81,521	70,490	70,490
6.	Other trading activities
		Unrestricted Total Funds		Unrestricted	Total Funds
		Funds	2021	Funds	2020
		£	£	£	Sy
	Hatbands	(2,130)	(2,130)	(1,696)	(1,696)
7.	Investment income
		Unrestricted Total Funds		Unrestricted	Total Funds
		Funds	2021	Funds	2020
		£	£	£	£
	Bankinterestreceivable	57	57	188	188

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Toll Rides (Off Road) Trust Company Limited by Guarantee Notes to the Financial Statements (continuea) Year ended 30 April 2021

8. Costs of other trading activities

		Unrestricted	Total Funds	Unrestricted	Unrestricted	Total Funds
		Funds	2021		Funds	2020
		£	£		£	£
	Costs of other trading activities -
	Membership schemes and social
	lotteries	252	252		40	40
9.	Expenditure on charitable activities by fund type
		Unrestricted	Total Funds	Unrestricted		Total Funds
		Funds	2021		Funds	2020
		£	£		£	£
	Support costs	44,789	44,789		36,837	36,837
10.	Expenditure on charitable activities by activity type
				Total funds		Total fund
			Support costs		2021	2020
			£		£	£
	Governance costs		44,789		44,789	36,837
11.	Analysis of support costs
				Total 2021		=‘Total 2020
					£	£
	Staff costs				21,704	18,448
12.	Staff costs
	The total staff costs and employee benefits for the reporting period are analysed as					follows:
					2021	2020
					£	£
	Wages and salaries Furlough Claim				23,058 (1,354)	18,448 -
					21,704	18,448
	The average head count of employees during the year was Nil (2020: Nil). of full-time equivalent employees during the year is analysed as follows:				The average number
					2021	2020
	Number of staff				No. 2	No. 2
	Noemployeereceivedemployeebenefitsofmorethan£60,000duringthe				year(2020:Nil).

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Toll Rides (Off Road) Trust Company Limited by Guarantee Notes to the Financial Statements (continuea)

Year ended 30 April 2021

13. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.

14. Tangible fixed assets

		Fixtures and
		fittings	Equipment
		£	£	£
	Cost
	At 1 May 2020 and 30 April 2021	13,603	72,113	85,716
	Depreciation
	At 1 May 2020 and 30 April 2021	13,603	72,113	85,716
	Carrying amount
	At 30 April 2021	-	-	-
	At 30 April 2020	-	-	-
15.	Creditors: amounts falling due within one year
			2021	2020
			£	£
	Trade creditors		144,569	70,209
	Social security and other taxes		307	91
	Ring Fenced Funds		8,697	5,274
	Other creditors		1,140	1,140
			154,713	76,714
16.	Creditors: amounts falling due after more than one year
			2021	2020
			£	£
	Othercreditors		5,000	5,000

15. Creditors: amounts falling due within one year

17. Analysis of charitable funds

Unrestricted funds

			At			At
		1	May 2020	Income	Expenditure 30 April 2021
			£	£	£	£
General	funds		129,660	79,448	(45,041)	164,067
			At			At
		1	May 2019	Income	Expenditure 30 April 2020
			£	£	£	£
General	funds		97,555	68,982	(36,877)	129,660

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Toll Rides (Off Road) Trust

Company Limited by Guarantee

Notes to the Financial Statements (continuea)

Year ended 30 April 2021

18. Analysis of net assets between funds

					Unrestricted	Total Funds
					Funds	2020
					£	£
	Current assets				211,374	211,374
	Creditors less than 1 year				(81,714)	(81,714)
	Net assets				129,660	129,660
19.	Analysis of changes in net debt
			At			At
		1	May	2020	Cash flows	30 Apr 2021
				£	Pa	£
	Cashatbankandinhand		211,374		112,406	323,780

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Toll Rides (Off Road) Trust Company Limited by Guarantee Management Information Year ended 30 April 2021

The following pages do not form part of the financial statements.

13 -

| |

Toll Rides (Off Road) Trust

Company Limited by Guarantee

Detailed Statement of Financial Activities Year ended 30 April 2021

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|||||||| |---|---|---|---|---|---|---| |2021|2020| |Income|and|endowments|£|£| |Donations|and|legacies| |Fees|Received|81,521|70,490| |Other|trading|activities| |Hatbands|(2,130)|(1,696)| |Investment|income| |Bank|interest|receivable|57|188| |Total|income|79,448|68,982| |Expenditure| |Costs|of|other trading|activities| |Repairs and|maintenance|252|40| |Expenditure|on|charitable|activities| |Wages and salaries|23,058|18,448| |Furlough|Claim|(1,354)|-| |Other establishment|5,143|5,202| |Legal|and|professional|fees|4,663|4,449| |Other|interest|payable|and|similar charges|13,279|8,738| |44,789|36,837| |Total expenditure|45,041|36,877| |Net income|34,407|32,105|

----- End of picture text -----

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Toll Rides (Off Road) Trust

Company Limited by Guarantee

Notes to the Detailed Statement of Financial Activities

Year ended 30 April 2021

			2021	2020
			£	£
Costs of other trading activities
Costs of other trading activities		- Membership schemes and social lotteries
Ride repairs	& maintenance		252	40
Costs ofothertrading activities			252	“40
Expenditure	on charitable activities
Governance	costs
Governance	costs - wages/salaries		23,058	18,448
Furlough Claims			(1,354)	=
Governance	costs - other establishment		5,143	5,202
Governance	costs - accountancy fees		1,257	1,140
Insurances			2,430	2,297
Telephone			976	1,012
Office Expenses			13,279	8,738
			44,789	36,837
Expenditure	oncharitableactivities		44,789	36,837

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