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2021-03-31-accounts

REGISTERED COMPANY NUMBER: 02889730 (England and Wales)

REGISTERED CHARITY NUMBER: 1033035

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

FOR

COMMUNITY TRANSPORT (SWADLINCOTE)

COMMUNITY TRANSPORT (SWADLINCOTE)

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Page

Report of the Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements

1 to 4 5 6 7 8 to 18

COMMUNITY TRANSPORT (SWADLINCOTE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of 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

Objectives

The Charity aims to ‘provide a non-profit making, community transport service for the benefit of the residents of South Derbyshire and surrounding areas in the interests of social welfare and for the preservation of health of those in need, hardship and distress by reason of age, infirmity, mental or physical ability with the object of improving their condition of life’.

Services may be used by community groups/individuals meeting our eligibility criteria and who are affiliated with us and have pre-booked in advance. Services assist vulnerable children and adults to maintain independence and provide improved life quality, increase choice and assist with social integration. Occasional non-profit social outings are provided for registered members.

Significant activities

Three types of service are currently provided for those who are eligible:

Dial-a-Bus (for individuals to access supermarkets/town centres);

Group Transport used by any group which benefits the community;

Home to School/Training Centre Services for children and adults with special educational needs/disabilities.

Public benefit

The charity has referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing its aims and objectives and in planning future activities. In particular the charity has considered how planned activities will contribute to the aims and objectives that it has set.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

Despite the global pandemic, contracts continued to run at a reduced level, on behalf of Staffordshire County Council and Derbyshire County Council; for the provision of Special Needs education transport and Adult Care transport.

The charity benefited from local government grants due to an enforced reduction in contract services.

Throughout the period the charity adhered to Government policies aimed at controlling the spread of COVID-19.

Dial-a-Bus and Group Transport services were suspended.

Internal and external factors

The charity considers that it is well equipped to explore new business opportunities within its objectives for the further benefit of the local community which it serves.

Both trustees and management strive to continue the excellent community service currently provided. However, this cannot be guaranteed.

FINANCIAL REVIEW

Financial position

The total net income for the year from unrestricted activities amounted to £130,747 (2020: net expenditure £13,203) There was net expenditure on restricted funds of £4,134 (2020: £4,134).

The net effect of the above results is a total net surplus of £126,613 (2020: net deficit £17,337) which has been added to reserves to give total funds as at 31 March 2021 of £936,799 (2020: £810,186) of which £794,620 (2020: £663,873) is unrestricted and £142,179 (2020: £146,313) is restricted.

Principal funding sources

The charity's principal sources of funding in the year were service contracts with Staffordshire County Council and Derbyshire County Council.

Page 1

COMMUNITY TRANSPORT (SWADLINCOTE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

FINANCIAL REVIEW - continued

Investment policy and objectives

We have the power to invest to generate funds but generally choose not to do so other than seeking good interest on any money we have in our reserves and/or set aside for vehicle purchase.

Reserves policy

It is the Trustees’ policy to accumulate and hold reserves at such levels as required to even out future fluctuations in income and expenditure, whilst enabling the services to be maintained.

Designated reserves are currently invested in a Yorkshire Bank Business Current Account. These reserves amounted to £107,500 as at 31 March 2021 (2020: £107,500).

The designated funds relate to a contingency fund of £50,000 with the remainder for Vehicle Replacement.

We are required by law to ensure sufficient reserves are held (cash/assets) to be realised if necessary to cover costs involved in the event the Scheme 'winds up'. Our accounts show we can cover all costs involved.

Going concern The level of general reserves as at 31 March 2021 amounted to £551,947 and the balance of cash at bank and in hand was £504,008. The trustees consider that the charity has sufficient reserves and liquid funds to prepare the accounts on a going concern basis.

COVID-19

The impact of the global corona virus during the year, has had a negative effect on the income stream of the charity due to school closures and reduction in demand for group transport. As a result of this the trustees have closely monitored and reduced costs and utilised the government furlough scheme. The charity has also benefited from local government funding due to COVID-19. This has enabled the charity to retain a good level of liquid funds.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

Community Transport (Swadlincote) is a registered charity and company limited by guarantee, as defined by the Companies Act 2006, and not having a share capital. It is governed by its Memorandum and Articles of Association dated January 20th 1994. Indemnity insurance covers the liability of the Directors and a Service Level Agreement is in place between the charity and Derbyshire County Council and also Staffordshire County Council.

Recruitment and appointment of new trustees

In accordance with the Articles of Association, newly appointed Trustees retire at the next Annual General Meeting together with one third of the existing Trustees by rotation. They may offer themselves for re- election for a further term of three years.

When appointing Trustees, the Board considers our requirements and any specialist skills candidates may have, in accordance with current legislation determined by law. Candidates must be nominated by existing parties with the Board's agreement, in an 'ex-officio' capacity (without voting rights).

Organisational structure

The Board of Trustees, which can have no less than three members, or one tenth of the membership, whichever is greater (but is not subject to a maximum upper limit), is responsible for the administration of the charity. The board and any subsequent sub committees thereof, meet regularly as required.

The purpose of these meetings is to discuss development of the charitable company, personnel issues, operational and financial matters. Managers have been appointed by the Trustees to manage the day to day operations of the charity. In order to facilitate effective operations these Managers have delegated authority (approved by the Trustees) for most operational matters including finance, personnel, statistical information and vehicle maintenance.

Induction and training of new trustees

Trustee Induction and Training is available to ensure Trustees understand their legal obligations under Charity / Company Law; Trustees are encouraged to attend induction so they are familiar with policies, procedures and working practices.

Trustees are actively encouraged to meet key employees and other Trustees and to assist the charity in its objectives at times other than meetings, for example, ensuring that a Health and Safety policy is in place and adhered to.

Page 2

COMMUNITY TRANSPORT (SWADLINCOTE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT- continued Related parties

The charity has developed close working relationships with several external bodies:

Staffordshire County Council - Special Needs Contracts are provided on behalf of Staffordshire County Council. Derbyshire County Council - Adult Care Contracts operated.

Leicestershire County Council framework supplier (no contracts held at present).

Community Transport Association and Mobility Matters for information and advice.

The charity shares a Trustee and its key management with Erewash Community Transport, a charitable company based in lIkeston which offers services similar to those of Community Transport (Swadlincote). In March 2019, Erewash Community Transport purchased one third of the ordinary share capital of Little Transport Limited, a company which carries out the maintenance and repairs of the vehicle fleet of Community Transport (Swadlincote). All transactions are based at arm's length and prices are agreed with the management of Little Transport Limited.

Risk management

The Trustees recognise that the key to effective risk management is the regular assessing, reviewing and monitoring of policies, procedures and systems.

Trustees ensure a Risk Management system is used to regularly assess, identify and control potential risk with formal Trustee only meetings held as required.

The professional services of an outside organisation are employed to ensure compliance with Health & Safety and Employment Law.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number 02889730 (England and Wales)

Registered Charity number 1033035

Registered office George Holmes Business Park George Holmes Way SWADLINCOTE

Derbyshire DE11 9DF

Trustees

F C Phillips M C Coldicott

Company Secretary AM Jones

Independent Examiner Johnson Tidsall Limited Chartered Accountants 81 Burton Road Derby Derbyshire DE1 1TJ

Page 3

COMMUNITY TRANSPORT (SWADLINCOTE)

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2021

REFERENCE AND ADMINISTRATIVE DETAILS - continued Bankers

Lloyds TSB

Burton-on-Trent Staffordshire

Yorkshire Bank

11 Smithy Row

Nottingham NG1 3EJ

Management

Two Managers of Community Transport (Erewash) continue to act as managers of the scheme and have been delegated day to day management by Trustees each having delegated authority to facilitate day to day operations.

Co-managers:

Mrs Tina Appleby (Finance)

Ms Jackie Hrynczyszyn (Personnel)

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

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Approved by order of the board of trustees on 28 November 2021 and signed on its behalf by:
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Page 4

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF COMMUNITY TRANSPORT (SWADLINCOTE)

Independent examiner's report to the trustees of Community Transport (Swadlincote) (‘the Company’) | report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, | report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act'). In carrying out my examination | have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. | can confirm that | am qualified to undertake the examination because | am a registered member of Institute of Chartered Accountants in England and Wales which is one of the listed bodies.

| have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe in any material respect:

| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn jaXhis report in order to enable a proper understanding of the accounts to be reached.

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'
Vi)~
Richard Minns FCA
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Institute of Chartered Accountants in England and Wales Johnson Tidsall Limited

Chartered Accountants

81 Burton Road

Derby Derbyshire DE1 1TJ } Date: DALAL

Page 5

COMMUNITY TRANSPORT (SWADLINCOTE)

STATEMENT OF FINANCIAL ACTIVITIES

(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2021

Unrestricted Restricted 2021
Total		 2020
Total
funds funds funds funds
Notes £ £ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 3 65,919 ~ 65,919 -
Charitable activities 6
Community transport 250,603 - 250,603 301,788
Other trading activities 4 7,271 - 7,271 C271
Investment income 5 16 - 16 1,102
Total 323,809 - 323,809 310,161
EXPENDITURE ON
Charitable activities 7
Community transport 193,062 4,134 197,196 327,498
NET INCOME/(EXPENDITURE) 130,747 (4,134) 126,613 (17,337)
RECONCILIATION OF FUNDS
Total funds brought forward 663,873 146,313 810,186 827,523
TOTALFUNDSCARRIEDFORWARD 794,620 142,179 936,799 810,186

The notes form part of these financial statements

Page 6

COMMUNITY TRANSPORT (SWADLINCOTE)

BALANCE SHEET

31 MARCH 2021

2021 2020
Unrestricted
funds		 Restricted
funds		 Total
funds		 Total
funds
FIXED ASSETS Notes £ £E £ =
Tangible assets 14 251,687 141,948 393,635 413,165
CURRENT ASSETS
Debtors 15 47,280 - 47,280 44,439
Cash atbank and in hand 503,777 231 504,008 366,459
551,057 231 551,288 410,898
CREDITORS
Amounts falling due within oneyear 16 (8,124) - (8,124) (13,877)
NETCURRENTASSETS 542,933 231 543,164 397,021
TOTALASSETS LESSCURRENT LIABILITIES 794,620 142,179 936,799 810,186
NETASSETS 794,620 142,179 936,799 810,186
FUNDS 17
Unrestricted funds:
General fund 551,947 420,332
Designated fund 107,500 107,500
Revaluation reserve 135,173 136,041
794,620 663,873
Restricted funds 142,179 146,313
TOTALFUNDS 936,799 810,186

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies’ regime.

The finanei tements were approved by the Board of Trustees and authorised for issue on 28 November 2021 and were si on jts behalfby:

The notes form part of these financial statements

Page 7

COMMUNITY TRANSPORT (SWADLINCOTE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Community Transport (Swadlincote) is a charitable company, registered in England and Wales. The charitable company's registered company number, registered charity number and registered office address can be found in the reference and administrative details of the Report of the Trustees.

The presentation currency of the financial statements is the Pound Sterling (£).

  1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.

Preparation of the accounts on a going concern basis

The charity incurred losses in the two years ended 31 March 2020 due to the cessation of local grants in the 2019 year. Despite this, trustees and management have secured service contracts and implemented some elements of restructuring to reduce costs.

The effect of the COVID-19 global pandemic has reduced income levels due to school closures and reduced demand for group travel. The trustees have utilised the government furlough scheme, received some local government grants and re-negotiated monthly vehicle maintenance contracts. These measures have resulted in a surplus for the year ended 31 March 2021 which has enabled the charity to maintain a good level of liquid funds.

On this this basis, the assessment of the trustees is that the charity is a going concern.

Significant judgements and estimates

The following judgements (apart from those involving estimates) have been made in the process of applying the charitable company’s accounting policies that have had the most significant effect on amounts recognised in the financial statements:

Depreciation — when calculating the charge for the year, the trustees consider the appropriateness of the accounting policy in orderto write off each asset over its estimated useful life.

The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’:

* the requirements of Section 7 Statement of Cash Flows.

Income

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably, and it is probable that the income will be received.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained, then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity, and it is probable that they will be fulfilled.

Income from trading activities includes income earned from Bus Service Operator's Grant in exchange for supplying services in the local area and income is recognised when the grant is receivable, and the amount can be measured reliably.

Income from services provided for community transport are recognised when the services have been provided, the amount can be measured reliably, and it is probable that the income will be received.

Page 8

COMMUNITY TRANSPORT (SWADLINCOTE) NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2021

2. ACCOUNTING POLICIES - continued

Grants

The charity receives government grants in respect of the Coronavirus Job Retention Scheme and local government grants for loss of contract income. Income from government and local government is recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received, and the amount can be measured reliably.

Debtors

Trade debtors and other debtors are recognised at the settlement amount due less any discount. Prepayments are valued at the amount prepaid.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources.

Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are recognised at their settlement amount.

Governance costs

Expenditure on governance costs of the charity includes all expenditure not directly related to the charitable activity. This includes office expenses relating to accountancy, independent examination and legal fees.

Allocation and apportionment of costs

Support costs are those incurred in connection with the administration of the charity. They have been wholly allocated to the charity's main activity of community transport.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property - 2% oncost Fixtures and fittings - 25% on reducing balance Motor vehicles - 25% on reducing balance Computer equipment - 25% on cost

Tangible fixed assets are stated at cost or deemed cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

Land has not been depreciated.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Page 9

COMMUNITY TRANSPORT (SWADLINCOTE) NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2021

2. ACCOUNTING POLICIES - continued

Fund accounting The charity has both restricted and unrestricted funds. All funds are used to benefit and promote the charitable objects of the charity.

Unrestricted funds are general funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the trustees for specific purposes.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the Balance Sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Financial instruments Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidencesa residual interest in the assets of the company after deducting all of its liabilities.

  1. DONATIONS AND LEGACIES
3. DONATIONS AND LEGACIES
2021 2020
£ £
Grants 65,919 -
Grants received, included in the above, are as follows:
2021 2020
£ £
Coronavirus Job Retention Scheme 65,919 -
4. OTHER TRADING ACTIVITIES
2021 2020
£ £
Bus Service Operator's grant 7,271 7,271
5. INVESTMENT INCOME
2021 2020
£ £
Depositaccountinterest 16 1,102

Page 10

COMMUNITY TRANSPORT (SWADLINCOTE)

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2021

6. INCOME FROM CHARITABLE ACTIVITIES INCOME FROM CHARITABLE ACTIVITIES
2021 2020
Activity £ £
DCC COVID-19 support
grants Community transport 50,339 -
Contract hire Community transport 200,264 262,146
Group hire Community transport - 29,904
Dial a Bus Community transport - 9,457
Active travel Community transport - __281
250,603 301,788
A CHARITABLE ACTIVITIES COSTS
Direct Support
Costs (see costs (see
note 8) note 9) Totals
£ £ £
Community transport 159,055 38,141 197,196
8. DIRECT COSTS OF CHARITABLE ACTIVITIES
2021 2020
£ £
Staff costs 101,536 150,713
Hire ofplantand machinery 1,100 1,100
Vehicle operating costs
Depreciation		 37,096
19,163		 89,343
23,466
Loss on sale ofassets 1,298 -
Interest payable and similarcharges - 2,263
159,055 268,023
9. SUPPORT COSTS
Governance
Management costs Totals
£ £ £
Community transport 30,898 7,243 38,141
Support costs, included in the above, are as follows:
Management
2021 2020
Community
transport		 Total
activities
£ £
Wages 16,624 33,609
Social security - 257
Rates and water 2,704 3,669
Insurance 3,286 3,165
Lightand heat
Computer
Travelling
Sundries		 1,277
1,743
337
169		 2,167
1,933
1,812
2,413
Repairs and renewals 1,056 707
Bank charges 193 395
Carriedforward 27,389 50,127

Page 11

COMMUNITY TRANSPORT (SWADLINCOTE)

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2021

9. SUPPORT COSTS- continued Management - continued

2021 2020
Community
transport		 Total
activities
£ £
Broughtforward 27,389 50,127
Telephone and stationery 882 1,308
Legal and professional 2,627 4,065
30,898 55,500
Governance costs
2021 2020
Community
transport		 Total
activities
£ £
Accountancy and legal fees 3,943 675
Independentexamination 3,300 3,300
7,243 3,975

10. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):
2021 2020
£ £
Depreciation - owned assets 19,163 19,370
Depreciation - assets on hire purchase contracts and finance leases - 4,096
Hire ofplant and machinery 1,100 1,100
Deficit on disposal of fixed assets 1,298 -
Independentexamination 3,300 3,300

11. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees’ remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.

Trustees’ expenses

There were no trustees’ expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.

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COMMUNITY TRANSPORT (SWADLINCOTE)

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2021

12. STAFF COSTS

STAFF COSTS
2021 2020
£ 3
Wages and salaries 117,689 182,806
Social security costs - 885
Other pension costs 471 888
118,160 184,579
The average monthly number ofemployees during the yearwas as follows:
2021 2020
Drivers and escorts 15 20
Administrative staff 1 1
16 21

No employees received emoluments in excess of £60,000.

The full time equivalent of staff numbers is estimated as: drivers and escorts 10 (2020:13), administration 1 (2020: 1).

During the year ended 31 March 2021 a redundancy payment of £431 was made to one employee.

Key management personnel

Key management personnel are Mrs Tina Appleby and her support staff all of which are employed by Erewash Community Transport. A monthly management charge, based on time allocation, totalling £3,300 for the year (2020: £17,550) has been recharged to Community Transport (Swadlincote).

13. COMPARATIVES FORTHE STATEMENTOF FINANCIAL ACTIVITIES COMPARATIVES FORTHE STATEMENTOF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
funds funds funds
£ £ £
INCOME AND ENDOWMENTS FROM
Charitable activities
Community transport 301,788 - 301,788
Othertrading activities 7,271 - hert
Investmentincome 1,102 - 1,102
Total 310,161 - 310,161
EXPENDITURE ON
Charitable activities
Community transport 323,364 4,134 327,498
NET INCOME/(EXPENDITURE) (13,203) (4,134) (17,337)
RECONCILIATION OF FUNDS
Total funds broughtforward 677,076 150,447 827,523
TOTALFUNDSCARRIEDFORWARD 663,873 146,313 810,186

Page 13

COMMUNITY TRANSPORT (SWADLINCOTE)

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2021

14. TANGIBLE FIXED ASSETS

TANGIBLE FIXED ASSETS
Fixtures
Freehold
property		 and
fittings		 Motor
vehicles		 Computer
equipment		 Totals
£ £ £ £ £
COST
At1 April 2020
Additions
Disposals		 395,000
-
-		 31,656
-
-		 285,184
-
(6,400)		 6,297
931
-		 718,137
931
(6,400)
At 31 March 2021 395,000 31,656 278,784 7,228 712,668
DEPRECIATION
At 1 April 2020 33,305 31,043 234,327 6,297 304,972
Charge foryear 6,294 155 12,714 - 19,163
Eliminated on disposal - - (5,102) “ (5,102)
At 31 March 2021 39,599 31,198 241,939 6,297 319,033
NET BOOKVALUE
At 31 March 2021 355,401 458 36,845 931 393,635
At31March2020 361,695 613 50,857 - 413,165

Included in cost or valuation of land and buildings is freehold land of £80,314 (2020 - £80,314) which is not depreciated.

The valuation of the freehold property was made by professional valuers, on an open market basis, as at 17 December 2014. Freehold properties were stated at valuation to 31 March 2016. Under FRS 102 the trustees have elected to apply deemed cost.

Ona historical cost basis, the property would have been included at an original net book value of £218,488 (2020 - £223,914).

  1. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£ £
Trade debtors 33,331 29,116
Other debtors 10,104 3,376
VAT 2,452 4,550
Prepayments 1,393 7,397
47,280 44,439

Page 14

COMMUNITY TRANSPORT (SWADLINCOTE)

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2021

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

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|||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |2021|2020| |£|£| |Trade|creditors|4,233|8,644| |Social|security|and|other|taxes|448|1,502| |Accruals|and|deferred|income|3,443|3,031| |8,124|13,877| |17.|MOVEMENT|IN|FUNDS| |Net|Transfers| |movement|between|At| |At|1/4/20|in|funds|funds|31/3/21| |£|£|£|£| |Unrestricted|funds| |General|fund|420,332|130,747|868|551,947| |Designated|fund|107,500|.|-|107,500| |Revaluation|reserve|136,041|-|(868)|135,173| |663,873|130,747|-|794,620| |Restricted|funds| |Property|fund|146,082|(4,134)|-|141,948| |Action|grant|231|-|.|231| |146,313|(4,134)|-|142,179| |TOTAL|FUNDS|810,186|126,613|-|936,799| |Net|movement|in|funds,|included|in|the|above|are|as|follows:| |Incoming|Resources|Movement| |resources|expended|in|funds| |£|£|£| |Unrestricted|funds| |General|fund|323,809|(193,062)|130,747| |Restricted|funds| |Property|fund|-|(4,134)|(4,134)| |TOTAL FUNDS|323,809|(197,196)|126,613|

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Page 15

COMMUNITY TRANSPORT (SWADLINCOTE)

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2021

17. MOVEMENT IN FUNDS- continued

Comparatives for movement in funds

Net Transfers
At 1/4/19 movement
in funds		 between
funds		 At
31/3/20
£ £ £ £
Unrestricted funds
General fund 431,797 (13,203) 1,738 420,332
Designated fund 107,500 - - 107,500
Revaluation reserve 137,779 - (1,738) 136,041
677,076 (13,203) - 663,873
Restricted funds
Property fund
Action grant		 150,216
231		 (4,134)
-		 -
-		 146,082
231
150,447 4,134) _- 146,313
TOTALFUNDS 827,523 (17,337) - 810,186
Comparative net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 310,161 (323,364) (13,203)
Restricted funds
Property fund > (4,134) (4,134)
TOTALFUNDS 310,161 (327,498) (17,337)
A current year 12 months and prior year 12 months combined position is as follows:
At 1/4/19 Net
movement
in funds		 Transfers
between
funds		 At
31/3/21
£ £ £ £
Unrestricted funds
General fund 431,797 117,544 2,606 551,947
Designated fund 107,500 - - 107,500
Revaluation reserve 137,779 - (2,606) 135,173
677,076 117,544 - 794,620
Restricted funds
Property fund
Action grant		 150,216
231		 (8,268)
-		 -
-		 141,948
231
150,447 (8,268) - 142,179
TOTALFUNDS 827,523 109,276 - 936,799

A current year 12 months and prior year 12 months combined position is as follows:

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COMMUNITY TRANSPORT (SWADLINCOTE) NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2021

  1. MOVEMENT IN FUNDS- continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

----- Start of picture text -----
|||||| |---|---|---|---|---| |Incoming|Resources|Movement| |resources|expended|in|funds| |£|£|£| |Unrestricted|funds| |General|fund|633,970|(516,426)|117,544| |Restricted|funds| |Property|fund|-|(8,268)|(8,268)| |TOTAL FUNDS|633,970|(524,694)|109,276|

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

Designated funds:

The designated fund comprises £50,000 for a contingency fund with the balance representing funds retained towards vehicle replacement.

Restricted funds:

The property fund represents a grant received from the National Lotteries Board which was used to finance the construction of new premises.

Action grant was received from Derbyshire County Council to help the charity with its future strategies.

Transfers between funds

During the year a transfer was made as follows:

£868 was transferred from the revaluation reserve to general reserves being the excess depreciation charge on the revalued amount of freehold property over the historic depreciation charge.

  1. EMPLOYEE BENEFIT OBLIGATIONS

The total contribution paid to Personal Pension Plans in the year for certain employees amounted to £471 (2020: £888).

  1. OTHER FINANCIAL COMMITMENTS

As at 31 March 2021 the charitable company had financial commitments of £1,296 (2020: £2,265).

20. RELATED PARTY DISCLOSURES

The charity shares a trustee and its key management with Erewash Community Transport, a charitable company based in Ilkeston which offers services similar to those of Community Transport (Swadlincote). In March 2019, Erewash Community Transport purchased one third of the ordinary share capital of Little Transport Limited, a company which carries out the maintenance and repairs of the vehicle fleet of Community Transport (Swadlincote). All transactions are based at arm's length and prices are agreed with the management of Little Transport Limited.

Vehicle fleet maintenance costs charged by Little Transport Limited in the year ended 31 March 2021 amounted to £22,020 (2020: £46,338).

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COMMUNITY TRANSPORT (SWADLINCOTE)

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2021

21: ULTIMATE CONTROLLING PARTY

The charitable company is controlled by its Board of Trustees.

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