TRANSPO WILTHAM Waltham Forest Community Transport Limited Annual Report and Flnanclal Statements 31 March 2024 Company Reglslrallon Number 03073284 IEngland and Wales) Charlly Regl$trallon Number 1048701
Contents Reports Reference and admlnSstralive informatlon Report of the Management Commltlee Independent audltor's r8POrt 10 Flnanclal statement8 Statement of financial actlvSlles 15 Ba18nce sheet 17 Statement of cash flows 18 Prlnclpal 8ccountlng pollcles 19 Notes to the flnancSal 8lalements 22 Waltham Forest Community Transport Limited
Reference and administrative information Members of the Management Commltlee Dr Sabir Bham (Acting Chair) Mr Paul Leslie Mr Rlchard Mundy (Treasurer) Mr Davld Wllllams Company Secretary and Dlrector Helen Tredoux R8glstered offlce Low Hall Depot Argall Avenue London E10 7AS Telephone 020 85210665 Emall Info clwf.co.uk Webslte www.communllylransportwf.co.uk Company regl8tered number 03073284 (England and W81es) Charlty reglstored number 1048701 (England and W8188) Audltor Buzzacotl LLP 130 Wood Street London EC2V 6DL Bankers Co-operative Bank PO Box 101 1 Balloon Street Manchester M60 4EP Waltham Forest Community Transport Limited 1
Report of the Management Committee Year to 31 March 2024 The Management Committee presents its report wilh the flnancSal statements of Waltham Forest Community Transport for the year ended 31 March 2024. This report, which conslilutes a directors, report for company leglslation purposes, has been prepared In accordance with the sp8clal provlsions for small companSes under Part 15 of the Companles Acl 2006, and has been prepared in accordance wllh Part 8 of the Charltles Act 2011. The financial statements have been prepared In accordance wilh the princip81 accountlng policies set out on pages 19 to 21 and comply wSth the requlrements of the Charllles Act 2011, the Companles Act 2006, the charllable company's Memorandum and Artlcles of Association, applicable laws, and AccounlSng and Reporllng by Charllies; Slalement of Recommended Practice appllcable lo chari1Ses preparlng thelr accounts In accordance with the Flnancial Reporting Standard applicable in the Unlled Klngdom and Republic of Ireland {FRS 1021, and FRS 102, Governance, structure and managgmont Wallham Forest Communlty Transport IWFCT) Is a charllable company, Ilmlted by guarantee, Company No. 03073284 (England and Wales) and Is registered with the Charlly Commisslon, Charity No. 1048701. The charitable Company was incorporated on June 22, 1995 and registered as a charlly on August 16, 1995. The charllable company was eslabllshed under a Memorandum ofAssociation, whlch establSshed the oble¢ts and pow6rs of the charStable company and Is governed under Its Artlcles of AssocSallon, The Memorandum and Articles w8re updated al a General Meeting on 3181 March 2022, In the event of the company belng wound up, members are required lo conlrlbule an amount not exceedlng £5. The charlty's senlor employee has the tltle Dlrector and Company Secretary but Is not a member of the Management CommSllee and therefore nol a company director or charity truslee, Recrultment and appolntment of members of the Management Commlttee The directors of the company are also charity trustees for the purposes of charlty law and are the Members of the Managem8nt Committee under the company's articles. The MC needs lo refle¢l the dlverse needs of our user groups and IheSr members, our passengers. We a¢tlvely seek lo enhance the pool of potential committee members who are representative of all areas of the community. Where gaps are identified, we larget speclflc areas for recrultment, The MC revlews annually the existing skllls of Its members and seeks to galn oulsido support from advisors and volunteers on specific issues {e.g. marketing}. Training is offered to all MC members (see below}. Waltham Forest Community Transport Limited
Report of the Management Committee Year to 31 March 2024 Governance, structure and management {conlSnued) Member Inductlon and tralnlng A member Induction meeting is arranged for all new MC members immediately following the AGM. Thi815 usually led by the Company Secretary and Dlrector of the charity. The Inltlal inductSon enables members to famlllarlse themselves wlth.. • the charltable company's governing documents • the latest flnancial accounts + the obligatlons of members • procedures for meetlngs + the charlty's staffing framework New members are encourageil lo lake up additional tralnSng opportunities throughout Ihelr term of offlce. Informallon regardlng trainSng opportunltles Is provlded to membgrs. An annual flnanclal Iralnlng sesslon is provlded lo MC members. The followlng members were In offlce al 31 March 2022 and served throughoul the year except where shown.. Board mgmb•r Appolnt8d I ro•lgned Dr Sablr 8ham Mi Paul Leslle Mr Rlchard Mundy (Treasurer) Mr D8vld W11118m8 Key management personnel Helen Tredoux Dlreclor and Company Secretary Allson Fow18rlouis Fleet Supervlsor Remuneratlon for th8S8 Personnel, and all staff, Is sel by comparlson wlth 8lmll8r voluntary organisallons. DespSle the economlc cllmale, we have managed lo provlde all staff with pay Increases al or above inflation. Community Transport Wallham Forest is one of the few transport organisations accredited as a London Living Wage employar. The Management Commltlee reviews salarles and hourly pay rates annually. Rlsk Management The Management Committee uses its annual business planning process lo ensure that it is aware of the risks to which we are exposed. Where possible we have systems and procedures in placo to mitigate the risks faclng the charity. We maintain a Rlsk Register, which is reviewed by tho Manag6ment Committee annually, Examples of Risk Management include.. Human ResourGes There is a risk of losing key staff, work overload and reduced capabilily to respond lo our member groups, needs. We have appropriate back-up plans. Procedures are in place lo ensura compliance with standards for the employment and management of staff, as well as the health and safety of staff, clients and visilors. To help ensure our compliance we have conlracted Croner Consultancy lo advise and supporl on HR matters. Waltham Forest Community Transport Limited
Report of the Management Commlttee Year to 31 March 2024 Governance, structure and managèment (continued) Rlsk Management (continued) Premises We operate from a busy transport slte owned by the London Borough of Wallham Forest (LBWFI. The need to avoid accid8nts bylwith people or vehlcles Is paramount. WFCT has a slafl member attending health and safety meetlngs affecting the charity's premlses, slorage and parking. The resulls of these meetlngs are reported lo members. Drivers and Tralnlng Our buslne88 depends on provlding safe Journeys 1000/0 of the Ilme. Our drSv8rs' competence and atlllude are key elements. Our Fleet Supervlsor undertakes annual rlsk assessments for the drivers we employ, and we recelve professional support and advice through the national Communlly Transport Asso¢ialSon (CTA). We have adopted the natlon811y recognlsed MIDAS system of driver training lo ensure consistency In drSver standards. Thls system is used by WFCT and for drlvers from our memb8r groups whlch use our vehlcles on a self-drlve basls. Staff have DBS check5 where appropriate. Vehlcles We employ an external examlner lo check all vehlcles regu18rly. All recommended maintenance and rep8Srs are carried out. We acquire newer minibuse5 by lal purchasing when funds are avallable and (b) leaslng. The fl8et wlll be 1000/0 ULEZ-compllanl In 2024125. We Snlend movlng lo even more environmentally frlendly mlnlbuses Ihybrld andlor electrSc) as soon as that becomes pracllcable. Quallfy Slandards WFCT Is accredlled by the Fleet Operator Recognlllon Scheme {FORSI whlch alms lo raise the level of quallly within f1881 op8ratlons and to demonslrale whlch op8ralors are achlevlng exemplary levels of best practlce In safety, efflclency, and envSronmenlal protectlon, We are audlted annually by FORS. Organisatlonal Structure The Members of WFCT are the trustees of th8 charlty. They are the dlrectors of the company. They make up the management commiltee. They may Invite non-voling advlsors. The members are responsible for setting our strategic direction, ensuring compliance wllh our governance and management of finances. The Director is responslble lo the Management Committee and is also Company Secrelary. Operational responsibi1Sty is delegated lo th8 Director. The work of the charity, including servic8 provision, staff supervislon and liaison with the national body, Is Ljndertaken by the Director, along with the Fleet Supervisor and key slaff. Members meet staff and receive verbal and appropriate written reports al regular meetings. All meetings are minuted. Waltham Forest Community Transport Limited
Report of the Management Committee Year to 31 March 2024 Governance, structure and management (continued} Related partles WFCT 58 a member of the Community Transport Assoclation {CTA}, and we are guided by ts national pollcle5. WFCT actlvely uses the advlce and information servlces of the CTA. Our Dlreclor represents us at the London CTA meetings. This Is valuable In idenllfying relevant policy and legal developments and polentlal fundlng sources. We also work with many other local organlsatSons and local authorities, Our alms and oblectives Our charlty's purposes are set out In the oblecls contaSned In the company's memorandum of assoclalS0n'. THE 08JECT8 of the Charlly Ilhe "Oblecls'l are, for the PLtbllc benefit.. to relieve poverty youlh age sickness or dlsabillly by, in particular bul wlthoul1SmSlalion, the provislon of transport for Individuals in need of such r61ief or to charilles or other organisallons that beneflt such peTSons', and to promote soclal incluslon by preventlng people from b8coming soclally excluded, relSeving the needs of those people who are socially excluded and asslsting them lo integrate into $0¢Sely. For the purpose of Ihls clause 'soci811y excluded, means being excluded from $o¢lety, or part of socSely, as 8 result of one or more of lh8 followlng factors.. poverty, youth or old age, sIGkness or dlsabSllty. How our actlvltl•s dollver publ1¢ beneflt The maln area of WFCT'S charStable aclSvlty Is the provisSon of minibus and associated transport servl¢es lo registered member groups. These are elSglble groups who wish to use WFCT'S services on an occasional basis or regularly to meet thelr group travel needs, Who used and beneflted from our servlces WFCT provides trarsSPOrt and training to local organisalions in East London. In 2023124 we had 107 active member organlsations spanning a wide range of voluntary, communlly and stalulory organisalions. The breakdown of membership al the end of March 2024 showed 23% Adult and Social Care org8nSsatlons, 13.60/0 Arts and Culture, 10% Elderly and Dlsabled, 8.50/D Falth, 2.5V/o PublSc Servlces, 15.30/, Schools and Colleges, 8.50/0 Sports, 9.4•10 Youth, 3,5 % Housing, 1.7 Environment and 1.6 Health.2.59/0 Uniformed Community Hires We offer a choice of minibuses from standard to accessible, enabling our member groups to select a vehicle best suited to the mobility needs of their members. During 2023124, we achieved 8462 communlty hSres. The estimated figure for total passengers was 104147 across all services, including shuttle services for events at the London Stadium. Community Drivers WFCT provides drivers lo those organisations unable to provide their own. Waltham Forest Community Transport Limited
Report of the Management Committee Year to 31 March 2024 Our alms and objecllves (contlnued} Committed Servlces Committed servlce8, where member groups have ongoing commltted booklngs, Snclude day services for voluntary sector organlsatlons and Adult and Soclal Care servlces. 1,709 trlps were undertaken. Door to Store Servlce WFCT operates a granl funded Door to Store shoppSng servlce for elderly and disabled people In Waltham Forest. The service is funded by LBWF Adult and Soclal Care and form8 an Smportant Pert of enabling the elderly to retaln thelr Independence, by provldlng accessible transport to local supermarkets for shopping. The 8ervSce runs 2.5 days a week offerSng 3 trips a day lo varlous supermarkets, with specific days allocated to specific areas In Waltham Forest. Door lo Store contlnued through much of the year with 2,560 passengers uslng the s8rvlce for outward and Teturn journeys. Dlal a Rlde Servlces We contlnued provldlng a numb8r of Dlal a Rlde routes. Excurslons Club WFCT operates a small excursions club programme offerlng seasonal outlngs to Indlvlduals at risk of suffering from isolation and lon81in8ss. During the year we ran 25 trips with 310 passengers on oullngs lo places of Interest. Waltham Forest Communlty Drlvlng School WFCT has bgen a local provider of MIDAS {mlnibus awareness Iralning) for more than 10 years. The Iralning register is managed nalSonally through CTA UK and Is aimed al anyone drlvlng a minibus. WFCT offers Ihls servlce locally and has a register of more than 280 drlvers. We hav8 Strengthened our Iralnlng offer and the Community Drlvlng School has Increased the varlety of Irainlng related to mlnlbus travel and operatlons, Cours@s now include Standard and Accessible MSDAS, Passenger Asslstance TraSnlng and 5 Steps lo Safely Tralnlng. In 2023124 we tralned 148 individuals. The Ir81nlng schemes are monitored to 8nsure that WFCT conllnues lo provlde training to m6et the needs of our member groups Monltorlng We use customer satisfaction surveys to measure the quality of our service and use opportunilies such as special con5ullations lo ensure that we continue lo review our 5ervSces lo best meet our member organisations, needs. Newham Community Transport WFCT was awarded a Power to Change grant in 2018 towards a mlnlbus for work in Newham and support for an Outreach worker for 18 months to develop small grass roots services in Newham. The Outreach worker is now paid from our own funds and continues lo develop services in Newham. Prlnclpal Fundlng Sources 83.80/0 of income from charitable activities came from committed services for our member groups. 15.5010 Game from occasional hires and 0.70/0 from our Communily Driving School. Waltham Forest Community Transport Limited
Report of the Management Committee Year to 31 March 2024 Prlnclpal Funding Sources (continued) In 2018119 Walthamstow & Chingford Almshouses kindly donated £11,360 for drlver Irainlng, whlch, after delays due to Covid, was Completed in the year. We recelved £10,000 from the Awards for All Fund in 2022123, whlch was used to dellver the Time Together Club In Newham every fortnlghl for lonely and isolat8d Indivlduals. The funding was fully ulilised in the year. Heritage Lotlery Fund awarded a £140,000 grant for our Charabancs & Cadillacs project, of which £46,445 w88 spent in th8 year. We wlsh lo thank all thos8 who gave grants and donatlons. Thelr support slgnSflcantly Increases the numbers of p80pI8 who benefll from our s8rvlces. ULEZ Fleet replacement programme Communlty Transport qualifies under the sunset period to 2025 for welfare vehlcles. ThSs year we replaced a further four vehScles wllh compllanl vehicles. Most of our fleet now meets th8 Euro 6 standard. The remalnlng vehicles w511 be replaced In 2024. Flnanclal revlew Flnanclal Results The slalement of flnanclal activltles dlscloses a surplus In net Sncomlng resources of £65,054 12023: 214,363>. Reserves at 31 March 2024 were.. unreslrlcled general funds £678,429 and designated funds - £415,000. Reserves Pollcy WFCT malnlalns a cautlous reserves pollcy, wlth the goal of belng able lo remaln in business, provlding communlty servlces to our member groups, even when experiencing a signlfi¢ant reduction in income. Reslrlcted funds arlse from income granted to Communlly Transport that can be used only for the purposes specified in th8 grant. Our Treasurer regularly monitors the costs allocat6d against grants and reviews progress against the budget for each grant. Designated ReseNe funds are used to mainlain adequate security for known plans and risks. At 31 March 2024 these lotalled £415,000 for., Core Costs {3 months, core slaff, runnlng and other costs)., Redundancy (to enable WFCT to reduce services or wind up because of unexpected losses of fundlng, lo ourselves or our member groups). Working Capital (lo manage cash), Future Community Services, to be delivered after year-end, and Fleet Renewal. Excluding designated funds, general unrestricted reserves tol81 £678,429 at 31 March 2024, of which £216,808 were free reserves. Waltham Forest Community Transport Limited
Report of the Management Committee Year to 31 March 2024 Résponslbllltles of the members of the Management Committee The Members of the Management Committee (who are also Iruslees of Waltham Forest Community Transport for the purposes of charity law and directors for the purposes of company law) are responsib18 for praparing th8 R8POrt of the Management Commlttee and Ihe flnanclal 5ta18ments, In accordance with applicable law and Unlted Klngdom Accountlng Praclice (Uniled Kingdom Generally Accepted Accountlng Praclicel. Company law requSres the Management Committee lo prepare financial statements for each financlal year which give a true and fair view of the affalrs of the charltable company and of the Incomlng resources and applicatlon of reBources, Includlng the Income and expendlture, of the charltable company for that period, In preparing these fln8nclal statements, Ihe members are requlred lo.. • select sultable 8ccounlSng policles and then apply them conslstently., • observe the methods and prlnclples in Accounting and Reporting by Charltles.. Statement of Recommended PractSce appllcable for charilles preparlng Ihelr accounts In accordance wllh FRS 102; make judgements and esllmates that are reasonable and prudent., • state whether applicable Unlted Klngdom Accountlng Standards have been followed, subject to any materlal departures dlsclosed and explained in the financlal slatements; and • prepare the flnanclal statements on the golng concern basls unless It Is Inapproprlale lo presume that the charitable company wlll contlnue In operatlon, The Management Committee is responslble for keepSno proper accountlng reGords which dSs¢los6 with reasonable accuracy al any tlme the fln8ncS8l positlon of Ihe charllable company and whlch enable them to ensure th8t the flnanclal statements comply wlth CompanSes Acl 2006. The members are also responsible for safeguardlng the assets of the charltable company and hence for taklng reasonable steps for the prevention and detectlon of fraud and other irregularities, In so far as the Management Commllt6e is aware., • th8r8 is no relevant audit inform8tSon of whSch the charitable company's auditor is unaware., and • the members have taken all steps that they ought lo have taken to make themselves aware of any relevant audil information and to establish that the charitable company's auditor is aware of thal information. Waltham Forest Community Transport Limited
Report of the Management Committee Year to 31 March 2024 Responslbllltles of the membors of the Managemenl Commlttee Icontlnued) The members are responsible for the maintenance and integrity of the corporate and financial information included on charitable company's website. Leglslatlon Sn the United Klngdom governlng th8 preparation and diss8mination of financial statements may dlffer from leglslallon5 In other lurlsdlctlons. Date.. Company Secretary Waltham Forest Community Transport Limited
Independent audltor's report 31 March 2024 Independent auditor's report to the members of Waltham Forest Communlty Transport Limited Oplnlon We have audited the financial statam8nts of Waltham Forest Communlly Transport LlmSled (the 'charitable parent company,) and its subsidiaries (the 'group'} for the year ended 31 Mar¢h 2024 which th8 comprise the group statement of financlal activllies, the group and charltable parent company balance sheets and the group statement of cash flows, the princSpal accountlng pollcles and the not8s lo the flnanclal stalemenls, The flnanclal reportlng framework that has been applSed in Ihelr preparation is applicable law and United Kingdom Accounting Slandards, Including Flnancial Reporting Standard 102 'The Financial Reporting Standard applScable In the UK and Republic of Ireland, {Uniled Klngdom Generally Accepted Accounllng Pracllc8). In our oplnlon, Ihe fSnanclal slalements: • give a true and falr v18w of the slate of the group's and of the charltable parent company's affairs as al 31 March 2024 and of Ihe group's income and expenditure for the year Ihen ended., * have been properly pr8pared In accordance wlth Unlted Kingdom Generally Accepted Accountlng Practlce., and have been prepared in accordance wlth the requlrements of the Companles Act 2008, Basls for oplnlon We conducted our audit In accordance wlth Internallonal Stand8rds on AudStlng IUKI IISAS IUKJI and applicable law. Our responsibilities under those standards are further descrSbed the auditor's responslbi1Stles for the audit of the financSal statements seclSon of our report. We are independent of the group in accordance with the 81hical r@quiremenls that are relevant lo our audit of the financial slalements In the UK, Includlng the FRC'S Ethical Standard, and we have fulfilled our other ethical responslbi1I1Ses in accordance with these requirements. We beli8ve that the audit evidence we have obtained Is sufficSent and appropria18 to provide 8 basls for our oplnlon. Concluslons relatlng to golng concern In auditing the financial slalemenls, we have concluded that the Iruslees, use of the golng concern basls of accounting in the preparation of the financial slatemenls is approprlale. Based on the work we have performed, we have not identified any material uncertainlSes ralating lo events or conditions that, individually or collectively. may cast significant doubl on the group and charitable parent company's ability to contlnue as a golng concern for a period of at leasl twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect lo going concern are described in the relevant sections of this report. Waltham Forest Community Transport Limited 10
Independent auditor's report 31 March 2024 Olher Informatlon The Iruslees are responsible for the other information. The other information comprises the information included in th8 annual report and financial stalemenls, olhar than the flnancial stalemenls and our auditor's report Ihereon. Our opinion on the financial slalements does not cover the other information and, except to the extent otherwise explScilly slated in our report, we do not express any form of assurance concluslon thereon. In connectlon wlth our audll of the financlal statements, our responsibility is to read the other informatlon and, In doing so, conslder whether the other Informatlon Is malerlally Inconsistent with the financial statements or our knowledge obtained In the audlt or olherwlse appears lo be materially misstated. If we identify such ma18rial inconsistencies or apparent material misslalements, we ar8 required to determine whether Ihere is a material mlsslalemenl In the financSal statements or a materSal misstatement of the other InformatSon. If, bas8d on the work we have performed, we conclude that there Is a materlal mlsstatement of thls other informatlon, we are required to report that fact. We have nothing to report In thls regard. Oplnlons on other matters prescrlbed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of the audlt: • th8 Informatlon glv8n Sn the Irus188s' report, whlch Is also the dlr8clors' report for the purposes of company law, for the flnanclal ygar for whlch the financial statements are prepared is consistent with the flnancial stalemenls., and • the Iruslees, report, whlch Is also Ihe dlrectors, report for the purposes of company law, has been prepared Sn accordance wilh appllcable legal requlremenls. Mattars on whlch wa ara requlred to report by exceptlon In th8 light of the knowledge and understanding of the group and the ch8rlt8bl8 parent company and Ils environment obtained In the course of the audlt, we have not identlfled malefial misslalements in the trustees, report, We have nolhSng to report in respect of tha following matters in relation to which the Companles Act 2006 requlres us lo report to you If, In our oplnlon.. • adequate accountlng records have not been kepl by the charStabl8 parent company, or returns adequate for our audit have not been recelved from branches nol visSled by us., or • the charitable parent company financial statements are not in agreement with the accounting records and returns., or certain disclosures of truslees, remuneration specified by law are not made., or we have not received all the information and explanalions we require for our audit; or + the Iruslees were not enlilled to prepare the financial statements in accordance with the small companies regime and lake advantage of the small companies, exemptions in preparing Ihe trustees, report and from the requirement lo prepare a strategic report. Waltham Forest Community Transport Limited 11
Independent auditor's report 31 March 2024 Responsibilities of trusloes As explained more fully in the Irustees, responsSblli1Ses slalement, the trustees {who are also the directors of the charitable company for the purposes of company lawl are responslble for the preparation of the financlal statements and for being sallsfied thal they give a true and falr view, and for such inlernal conlrol as the trustees determlne Is necessary lo enable the preparatlon of financial statemenls thal are free from material mlsstalernent, whether due to fraud or error. In pr8parlng the financlal slalemenls, the Iruslees are responslble for assesslng the group's and the charitable parent company's ability to continue as a going concern, disclosing, as applicable, matters relaled lo going concern and uslng the going concern basis of accounting unless the Iruslees either Intend lo1Squldale the group or the charitable parent company or lo cease operations, or hav8 no r8allsllc allern8tlve but to do so, Audltor's responslbllltles for the audlt of the flnanclal statements Our objectives are lo obtain reasonable assurance about whelher the flnanclal slalemenls as a whole are free from material mlsstalement, whelher due lo fraud or error, and lo issue an auditor's report th81 includes our opinSon. Reasonable assurance is a high level of assurance, but is not a guarantee that an audlt conduct8d in accordance with ISAS (UK) w511 always detect a materlal mlsslalement when It exlsls. MSsstalements can arlse from fraud or error and are considered mat8rlal If, Individually or Sn the aggregate, they could reasonably be expected to Influence th6 economlc decisions of users taken on the b88Is of these flnanclal statements. Irregularllles, Includlng fraud, are Instances of non-compllance with laws and r8gulallons. We deslgn procedures In Ilne wllh our responsibllStSes, outllned above, to delecl material mlsstalemenls In respect of Irregularltles, Includlng fraud. The exlenl lo whlch our procedures are capable of detectlng Irregularitles, Includlng fraud is detailed below.. Our approach to identSfySng and assessing Ihe rSsks of material mSsslalemenl In respect of Irregularllles, including fraud 8nd non-compllance wSth laws and regulations, was as follows,. • th8 6ngagement partner ensured that the engagemant team collectively had the appropriate competence, capabilities and skllls to Identlfy or recogn1s8 non-compllance wllh appllcable laws and regulations., we oblalned an understanding of the legal and regulalory frameworks Ihat are applicable to the group and the charitable parent company and determSned that the most slgnificanl frameworks whlch are dlreclly relevant to specific assertlons In the fSnanclal statements are those that relate lo the reporting framework Istalemenl of Recommended Pracllce.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in Ihe Uniled Kingdom and Republic of Ireland (FRS 102) and the Companies Act 2006), those that relate lo employment and data protection {General Data Protection Regulation), bus safety leglslallon and th8 Transport Act 1985. Waltham Forest Community Transport Limited 12
Independent auditor's report 31 March 2024 Audltor's rasponsibilitles for the audlt of the flnancial stalemonts Icontinuedl • We understood how the group and charitable parent company are complying with those legal and regulatory frameworks by making enquiries of management and those responsSble for legal and compliance procedures. We corroborat8d our enquSrSes through our revlew of the mlnules of trust86s' meetings. • Idenllfled laws and regulallons were also communlcaled wlthin the audll team regularly and the team remained alert lo instances of non-compliance throughout the audit. We as8ess6d the suscepllblllty of the group and charSlable parent company's fSnanclal statements to mat8rlal mlsslatement, Includlng obtalnlng an understandlng of how fraud mlght occur, by.. makSng enqulries of managemenl as lo their knowledge of actual, suspected and alleged fraud,. and conslderlng the internal Conlrols Sn place to mlligate risks of fraud and non-compliance with laws and regulations. To address the r15k of fraud through management blas and overrld8 of controls, we.. • perform8d analytical procedures to Sdenllfy any unusual or unexpected relallonshlps., • lesled journal entrles lo Idenllfy unusual transacllons; assessed whether ludgem8nls and assumplSons made In delerminSng the accounllng eslimales were Indicative of potential bias,, • tested aulhorisalion controls on expendlture Items, lo check that all expendlture was approved In Ilne wlth the group and charltable parent company's financlal procedures,, • agreed financlal statement dlsclosures lo underlylng supporllng documentatlon,, read the mlnutes of meetings of those charged wlth governance; and enquSred of management as to actual and potential litigation and clalms. There are inherent Ilmilalions in our audit procedures described above. The more removed that laws and regulatlons are from financial transactlons, the less likely it is that we would becom8 aware of non-compllance. Audltlng standards 8180 Ilmll the audlt procedures requlred to Identlfy non-compliance wlth laws and regulations to enqulry of the trustees and other managemenl and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud ¢an be harder lo detecl than those that arise from error as they may involve deliberate concealment or collusion. A further description of our responsiblllties for the audit of thg financial statements is located on the Financial Reporting Council's website at www.frc.org.uklauditorsresponsibilitles. This description forms part of our auditor's report. Waltham Forest Community Transport Limited 13
Independent audltor's report 31 March 2024 Use of our report This report is made solely to the charitable company's members, as 8 body, In accordance wllh Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we mlghl slate to the charitable company's members those matters we are requlred to slate lo them in an audllor's report and for no other purpose. To the fullest exlenl permltled by law, we do not accept or assume responslblllly to anyone other than the charitable company and the charitable company's member8 as a body, for our audit work, for this report, or for th8 oplnlons we have formed, Edward Finch ISenSor Slalutory Auditor) For and on behalf of Buzzacolt LLP, Statutory Audltor 130 Wood Street London EC2V 6DL 30 October 2024 Waltham Forest Community Transport Limited 14
Consolldated statement of financlal activlties (includlng the Income and Expenditure Account) Year to 31 March 2024 Unreslricled gan6ral Dfjslgn8l&d Reslrlcled lund8 lund8 lund8 Total funds 2024 Total funds 2023 Incom0 #nd oxp•ndltur• Nol6$ Income from: Grants 8nd don8llons Inveslmenls Charllable actlvllles Total In¢om• 73,674 7,448 1,477,108 1,558,230 73,674 33,650 7,448 2,673 1,477,108 1,440,897 1,558,230 1,477,220 Exp•ndi¢ur• on: 1.482,869 1.482,889 10,305 1,493,174 1,262,857 10,305 1,493,174 1,262,867 Tol)1 gxp•ndllur6 N•1 Income Transfer8 N•1 mov•m•nt In lund* 75,361 155,000 1155,0001 230,361 1155,000 110,3051 66,056 214,363 12 13 10,305 65,056 214,363 Funds brought forward 1 Aprll 2023 Funds carrled forward at 31 March 2024 10 448,068 570,000 10,305 1,028,373 814,010 678,429 415,000 1,093,429 1,028,373 The slatemenl of flnancSal actlvllles Includ8s all galns and losses In the year, and Ih8refor8 a separate statement of total recognlsed galns and108ses has nol been prepared. All of the above amounts are related to conlSnulng a¢tlvi1Ses. Waltham Forest Community Transport Limited 15
Consolidated balance sheet 31 March 2024 2024 2024 2023 2023 Notes Flxed assets Tangible assets 461.621 316,157 Curront 0$8•ts Oeblors and pre-payments Cash al bank and in hand 239,860 465,152 705,012 237,775 530,063 767,838 Curront Ilabllltl¢8 Credllors and accrued expenses 73,204 55,622 Nèt currènt a88•t8 631,808 712,216 Total net assets 1,093,429 1,028,373 Tho funds of the ch8rlty: Funds and r08erves Unreslrlcled General DegSgnaled Reslrlcled funds 678,429 415,000 448.068 570,000 10,305 1,028,373 10 1,093,429 These flnanclal slalemenls were approved by the members of the Management Commltlee and slgned on Ils behalf by: Dale: Company registration number.. 03073284 The notes on pag6s 22 to 29 form part of these accounts. Waltham Forest Community Transport Limited 16
Charity balance sheet 31 March 2024 Notés 2024 2024 2023 2023 Flxed a$$ets Tangible a88els 461,621 316,157 Current assets Debtors and pre-payments Loan lo East CT CIC Cash al bank and in hand 239,860 70,250 394,622 704,732 237.775 80,250 449,414 767,439 15 Current IlabllStSes Credllors and accrued expenses 73,204 55,521 Net current assets 631,528 711,818 Total net a88•ts 1,093,149 1,027,975 Tho funds of the ¢harlty: Funds and reserves Unreslrlcled General DesSgnaled Reslrl¢led funds 678,149 415,000 447,670 570,000 10,305 1,027,975 10 11 1,093,149 These financlal statements were approved by the members of the Management Commlllee and slgned on Its behalf by: Dale.. Y¥1J Company regSstrallon number.. 03073284 The notes on pages 22 to 29 form part of these accounts, Waltham Forest Community Transporl Limited 17
Consolidated statement of cash flows year to 31 March 2024 2024 2023 Notes Cash flow8 from operatlng a¢tlv5t19S: Nel cash provided by operating activities 163,449 278,433 Cash flow8 from Investlng actlvltlo5: Proceeds from the disposal of langlble fixed assets Purcha$8 of langlble lixed a6sels Net cash used In Investlng actlvltlo8 228,360 228.360 118,4951 1118,495) Change In cash and cash •qulvalont$ In the year 164,911} 159,938 Cash and ca•h equlval•nt$ at 1 Aprll 2023 530,063 370,125 Ca8h and cash 0guSvalent8 at 31 March 2024 465,152 530,063 Notes to the 8tatement of cash flows for the year lo 31 March 2024 A Reconclllatlon of net movement In funds to net cash provlded by operatlng actlvltles 2024 2023 Net movemfrnt In funds la8 p•r the ¥tatement of flnanclal actlvllle8> Adjustments for: Depreclallon charge Iln¢reasel decrease In debtors In¢re8se In cr6dllors Nèt ¢a8h provlded by operatlng actlvltl88 65,056 214,363 82,896 12,085) 17,582 163,449 57,939 8,082 50 278,433 B Analy81s of cash and cash equlvalonts 2024 2023 Cash al bank and In hand Total cash and cash equlvalents 465,152 465,152 530,063 530,063 No separate reconclllatlon of net debt has been prepared as there is no difference between the nel cash Idebtl of the charity and the above cash and cash equlvalenls. Waltham Forest Community Transport Limited 18
Principal accounting policies 31 March 2024 The prlnclpal accounting policies adopted, Judgements and key sources of estlmation uncertainty in the preparation of the a¢¢ounts are laid out below. Basls of preparatlon These financial statements have been prepared for the year to 31 March 2024. Th8 financial stalemenls have been prepared under the historlcal cost convention with items recognlsed al cosl or Iransactlon value unless otherwise stated the relevant accounting policles below or the notes to these flnanclal slatemenls. The financial statements have been prepared In accordance with Accounting and Reportlng by Charities.. Slalement of Recommended Practice applicable to charities preparing thelr financlal statements In accordance with the Financlal Reportlng Standard applicable In the Un116d Klngdom and Republlc of Ireland {FRS 102) {Charilies SORP FRS 102) second edition issued in October 2019, the Flnan¢ial Reportlng Standard appllcable in the UK and Republic of Ireland (FRS 102} and the Charities Act 2011. The charlly conslltules a publlc benefSt entily as deflned by FRS 102. The financlal statements are presented In sterling and are rounded to the nearest pound. Basls of Consolldatlon The consolidated slalement of flnancial acllvilles and group bal8n¢e sheet consolidate Ihe financlal slalemenls of Waltham Forest Communlly Transport Limlted and Its subsldSarles, made up al the b8lan¢e sheel dale as Wallham Foresl Community Transport Limlted either owns the entire share caplt81 of the subsSdiary or assum8s control of the enllty. Crltlcal accounllng estlmates and areas of Judgement Preparation oflhe flnanclal 5t8lements requlres the members of the management commlltee to make significant judgements and estimates. The Items Sn the fSnan¢ial statements where these Judgements and esllmates have been made include.. estimating the useful economlc Ilfe of tangible flxed assets., and apportlonmenl of expendllure across each activlty, Assessment of golng concern The members of the management commltlee have assessed whether Ihe use of the golng concem assumption is appropriate in preparlng these financial statements. The trustees have made this assessment in raspect to a period of one year from the date of approval of these financial statement5. The members of the management committee of the charity have concluded Ihat there are no material uncertainties related to evenls or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due. The most signlflcanl areas of judgement that affect ilems In the accounts are detailed above. Waltham Forest Community Transport Limited 19
Prlncipal accounting policies 31 March 2024 Fund accountlng Unreslricted general funds are available for use al the discretion of the members Sn furtherance of the general objectlves of the charlty. Designated funds are unrestricted funds earmarked by the members for particular purposes. Restricted funds are subject8d to restrictions on thelr expendlture imposed by the donor or through the terms of an appeal. Income recognlllon All Income is included in the slalement of flnancial aclivi1Ses when the charitable company Is enlllled to the Income and the amounl can be quanlifi8d with reasonable accuracy. The followlng sp6clfic polScles are applled lo partlcular categorles of Incom8'. • Voluntary Income Is recelved by way of grants, donatlons and glfts and Is Included In full when the charlty becomes unconditionally entllled to the grant, • Granl Income, whlch is related lo performance and speciflc dellverables, Is accounted for as the charSty earns the right lo conslderatlon by ils performance. • Donated $eNice$ and facllllles are Included at the value to the charltable company where thls can be quantlfled. The value of servlc88 provlded by volunteers has not been included In these accounts. • Investment Income Is Included when recelved. • Income from ¢harilable acllvilies is accounted for when earned. Expendlture Expenditure Is recognised on an accrual basls as 8 li8billly is Incurred. Expenditure Includes any VAT whlch cannot be fully recovered, and Is report8d as part of the expendllure lo whlch It relat8S'. Charltable expenditure comprises those costs incurred by the charity in the delivery of Its activities and services for ils beneficiaries. It includes both costs that can be allocated dlreclly lo such activili8s and those costs of an indirect nature necessary to support them. Governance costs includ8 those costs assoclated wlth meellng the conslllutlonal and slatulory requlrements of the charity and include the audlt fees and cosls Ilnked lo the strategic management of the charitable Company, Operating lease agreements Rentals applicable to operaling leases where subslanlially all of the benefits and risks of ownership remain with the lessor are charged on a straight line basis over the period of the lease. Waltham Forest Community Transport Limited 20
Principal accountlng pollcies 31 March 2024 Tangible fixed assets Capital expenditure on items costing £5,000 or over Is deprecialed at rates deslgned to wrSte off the costs over the estimated useful lives of the assets, calculated on the straighl-llne method, less any rèsidual valué. First-year depreclatlon on assets costing more than £5,000 Is calculated pro rata the year in whlch they were purchased. Improvements lo premlses will be written off, on the slraighl-line melhod, over the life of the lease during which the expenditure Is Incurred. Depreciatlon Is provlded al the following annual rates on a stralght-llne basls Sn order lo wrile off each ass81 over Its estlmated useful Ilfe.. • Offlce equlpment • Vehl¢les 10.200/¥ on cost Debtors Debtors are recognised at their settlement amount, less any provislon for non-recoverabillly. Prepayments are valued al the amount prepald. They have been discounted lo the present value of the future cash recelpl where Such dlscounllng Is malerlal. Cash at bank and In hand Cash al bank and in hand represents such accounts and Instrumen15 that are avallab18 on demand or have a malurily of less than three months from the dale of acquisillon. Credltors and provl8lons Credllors and provSslons are r8cognlsed when there Is an obllgatlon al th8 b81ance sheet date as a result of a past event, 11 Is probable that a transfer of economSc beneflt will be requlred In selllement, and the amount of the selllemenl can be estlmaled rellably. Creditors and provisions are recognised at the amount the charity antScipates 51 wlll pay lo settle the debt. They have been dlscounled to the pr8sent value of the future cash payment where such dlscounllng Is malerlal. Parent charlty Informatlon The parent charity, Waltham Forest Community Transport Llmlted, had total income of £1,559,37212023 - £1,477,105) and nel income of £66,318 for Ihe yaar ended 31 March 202412023 £214,368). The parent company has taken advantage of th8 8xemption from preparlng a separate income statement and statement of cash flows. No separate statement of fln8nclal activlties has been presented for Wallham Forest Community Transport Limited alone, as permilted by $408 of the Companies Act 2006 and paragraph 24.36 of SORP 2015. Waltham Forest Community Transport Limited 21
Notes to the financial statements Year to 31 March 2024 1 Company limited by guarantee Wallham Forest Community Transport Llmited is a company limited by guarantee, and a¢¢ordingly doos not have a share capltal. Every member of the company und8rtak8s lo contrlbut8 such amounts as may be r8qulred, not exceedlng £5, to the assets of the Charllable company In the event of il being wound up whlle he or She is a member, or within one year after he or she ceases to be a member, 2 Taxatlon Wallham Forest CommunSly Transport is a registered charity and therefore Is not liable to income lax or corporallon tax on Income derlved from Ils charitable acllvllle8, as It falls wllhln the varlous exemptlons avallable to TegSslered charlties. 3 Grants and donatlons Unr•slrl¢led Rgslrlcled funds funds 2024 Departmonl for Transport, Bus Servl¢e Oper8lors Herllago Lollery 2024 Total lund• 27,229 46,445 73,674 27,229 46,445 73,674 Unreslrlcled Reslricled funds funds 2023 Department for Transport, Bus SeNle8 Op6r81ors A wards for All Communlly F(Ind Newham Jubll88 Donations 2023 Tolal funds 21,550 21,550 10,000 500 1,600 33,650 10,000 500 1,600 23.650 10,000 Grant provlders have reservatlon of lille lo those assels acqulred with their capital grants, in the event of the company c8aslng to exist. Waltham Forest Community Transport Limited 22
Notes to the financial statements Year to 31 March 2024 4 Income from charltable actlvltles Unreslrlcted Reslri¢18d funds funds 2024 Committed booklngs fees and fares Membershlp fees Inel of VATI Community vehlclo use Training lo third partles 2024 Total funds 1,234.868 3.197 228,568 10,475 1,477,108 1,234,868 3,197 228,568 10,475 1,477,108 Unreslrlcled Reslricled funds funds 2023 Commllted booklngs f06s and fares Mgmb8rshlp lees (nel of VA T) Communlly vehi¢le u$8 Tralning lo third partl8S 2023 Tol81 funds 1,198,814 3,033 229,230 9,820 1,440,89T 1,198,814 3,033 229,230 9,820 1,440,897 5 Tolal resour¢e8 expended Total funds 2024 Commllled Booklngs Casual 8ooklng8 Drlvlng School Gov8rnance Costs dlre¢tly allo¢al6d lo acllvill•s Staff Vehlcles Audit fee Slalutory Medical Core Snsurance Marketing Consullanoy Drivlng School 183,825 425,386 34,026 78,739 1,558 3,605 219,409 507,730 5,500 125 640 6,187 20,106 7,232 9,562 5,500 125 536 99 6,187 16,845 6,059 3,118 1,122 143 51 9,562 Support cost allocated lo acllvilies Staff Premises Office runnlng costs Other support costs Total funds 517,529 10,474 33,863 38,606 1,233,123 95,794 1,938 6,246 7,146 228,228 4,386 88 286 327 20,011 617,709 12,500 40.395 46,079 1,493,174 11,812 Waltham Forest Community Transport Limited 23
Notes to the financial statements Year to 31 March 2024 5. Total resources expended Iconllnued) Charitable activillès Total fund8 2023 Commilled Bookings Casu81 Booklngs DrSving Newham- School East CT Gover- nance Costs directly allocated lo acllvilies Staff Vehlcles Audll f68 Slalulory Medlcal Maikellng Con8ullancy Drlvlng School 125,080 365,078 23,912 69,793 1,020 2,977 29,043 179,055 437,848 5,472 363 170 4,967 11,292 9,370 5,472 363 142 3,308 7,748 27 632 1,481 27 63 9,370 1,000 2,000 Support cost allocalad lo acllvllles Staff Premlses Offlce runnlng cos18 Other support costs Total funds 449,080 10,422 39,244 9,184 1,009.286 85,852 1,993 7,525 1,756 192,971 3.664 85 320 75 17,602 538,596 17,500 47,209 11,015 5,835 1,262,857 5,000 120 37,163 Costs are apportioned across charitable activities b8sed on the proportlon of Income recelved for that actlvlty durlng the year. Comparallve Informatlon for exp&ndlture, by fund, Is as follows,. Total funds 2023 Unre8lrScted Reslrleled Deslgnaled fund8 funds lunds Expendlturo Charilable a¢lSvSlles Total expendlturo 1,243,843 1,243,843 5,464 5,464 13,550 13,550 1,262,857 1,262,857 6. Staff costs and emoluments 2024 2023 Wages and salaries So¢lal security c0818 762,692 52,755 815,447 21,671 837,118 656,985 44,823 701,808 15,843 717,651 Other staff cosls No employee received emoluments of more than £60,000 In the year (2023: Nil}. Waltham Forest Community Transport Limited 24
Notes to the financial statements Year to 31 March 2024 6 Staff costs and emoluments Icontinuedl 2024 No. 2023 No. Average number of employees {FTE} 30 28 2024 2023 No. Average number of employees Iheadcounl basls) 42 39 The aggregate remunerallon of key management personnel (Director and Fleet Supervlsor} tola118d £108,295 (2023 - £99,886). Member remuneratlon and related party trans8CtSons.' non8 {2023'. none). No members recelved any remun8ratlon durlng the year12023: none), Expenses amountlng to £nll (2023: £nil} were reimbursed lo, or paid on behalf of, members of Ihe Management Committee, 7 Tanglble assels Vehlcles Group and charlty C08t Al 1 Aprll 2023 Addlllon8 Al 31 March 2024 565,480 228,360 793,840 Depreclatlon Al 1 Aprll 2023 Annual charge Al 31 March 2024 249,323 82,896 332,219 Net book valuè Al 31 March 2024 Al 31 March 2023 461,621 316,157 8 Debtors GTOUP 2024 Charlly 2024 2023 2023 Trade debtors other debtors Accrued Income Prepayments VAT recoverable 103,508 92,647 103,508 92,647 93.188 23,075 20,089 239,860 101,588 24,477 19,063 237,775 93,188 23,075 20,089 239,860 101,588 24,477 19,063 237,775 Waltham Forest Community Transport Limited 25
Notes to the financial statements Year to 31 March 2024 9 Creditors and accrued expenses, amounl falllng due wlthin one year Group Charity 2024 2024 2023 2023 Trade credStors Accruals Other credllor5 Soclal Securlly and other taxes 38.547 4.500 11811 30,338 73,204 28,397 5,000 50 22,175 55.622 38,547 4,500 11811 30,338 73,204 28,397 5,000 50 22,175 55,622 10 Restrlcted funds Asal 1 Apr51 2023 A8at 31 March 2024 Incom6 Expendllure Group and charlty Wallhamglow and Chlngford Almshous6s Awards fof All Commiinlly Fund 5,769 4,536 10,305 5,769 4,536 10,305 As81 l Aprll 2022 Asal 31 March 2023 Income Expendll(ire Group and charll Wallhamslow 8nd Chlngford Alm$houses Awards for All Community Fund 5, 769 5, 769 4,536 10,305 10,000 10,000 5,464 5,464 5, 769 Purposes of restrlcted income funds: • Walthamstow and Chlngford Almshouses was for driver tr8Inlng. • Awards for All Is for the Tim8 Together Club. 11. Deslgnatod funds A8at 1 April 2023 A$at 31 March 2024 Transfers Group and charlty Core cosls Redundancy fund Worklng Capital Future Community Services Leases Fleet Renewal 95,000 25,000 100,000 50,000 50,000 250,000 570,000 125,0001 70,000 25,000 150,000 50,000 50,000 150,0001 1130,0001 1155,000) 120,000 415,000 Waltham Forest Community Transport Limited 26
Notes to the financial statements Year to 31 March 2024 11. Desl9nated funds (continued) Asal l April 2022 As81 31 March 2023 Transfers Group and charity Core costs Redundancy fund Working Capllal Future Community Services Leases 12 months Fl891 Renewal 60,000 25,000 60,000 50,000 35,000 95,000 25,000 700,000 50,000 50,000 250,000 570.000 40,000 50,000 250,000 375,000 195,000 Purposes of deslgnated funds,. Core costs are to cover 3 months, costs for permanent staff and offlce and runnlng expenses etc. • The redundancy fund Is to cover the cost of reduclng seNices or wlndlng up and Ss based on statutory r6dundancy levels. + Worklng capital Is lo provlde cash, allowlng for delays awaltlng payments agalnst our Involc8S, • Future Communlty Servlces relates to communSty work lo be dellvered after 3151 March 2024. + Fleet Renew81 is for purchaslng vehlcles, 12. Net assets between funds Unreslricled funds Deslgn81ed Re8lricled funds funds Tolal 2024 Flxed assels Current assets Current Ilabillli05 461,621 290,012 173,2041 678,429 461,621 705,012 {73,204} 1,093,429 415,000 415,000 Unreslricled Design8led ReslriGled funds ftinds funds Tot81 2023 Fixed assels Current assets Gurrent liabilitl8S 316,757 187,533 (55,622) 448,068 316.157 767,838 (55,622) 1,028,375 570,000 10,305 570,000 10,305 Waltham Forest Community Transport Limited 27
Notes to the financial statements Year to 31 March 2024 13. Net movement in funds This is staled after charging.. 2024 2023 Deprec1811on Auditor's remuneraiSon Operating lea50 charges (Plant and machlnery) 82,896 5,500 105.018 57,939 5,472 101,313 14. Operatlng lease commitmenls At 31 March 2024, th8 total mlnlmum lease payments under non-cancellable operallng leases were: 2023 2023 &r811ng loase commllmenls.. Wllhln one year Between one lo flve ye8r8 Tol81 79,272 244,640 323,912 52,632 52,632 15. Related partles East CT Communlly Interest Company I'Easl CT,) Is a wholly owned subsSdlary of WFCT, sel up lo undertake commer¢Sal trading. 11 has not yel traded. Helen Tredoux IWFCT Company Secretary) and Rlchard Mundy (WFCT Tr&asurerl are dlreclors of East CT. WFCT has loaned £70,250 to East CT for start-up costs and working capltal, The loanls repayable on demand. East CT has been sel up lo provSde transport servlces in East London wSth an emphasis on accesslble and affordable transport for the widest range of local Individuals, groups and organlsalSons. As such the grantlng of the loan Is ¢onsld8red to b8 wllhln the charltable objects of WFCT, Furthermore, the so16 beneflclary of East CT CIC Is WFCT, Owlng to the nature of the WFCT operations and the composltSon of the members of Ihe Management Committee, belng drawn from Ioc81 organls8tlons, It Ss Inevitable that transactions will lake place with organisatlons which a member may have an Interest. All transactlons involvlng such organisations are conducted at arm's length and in accordance with the charity's financial regulatlons and normal procurement procedures. 16. Subsldlary company Al the year end, Waltham Forest Communlty Transport Llmited controls the followlng subsidiary entlty, which is consolidaled in these financial statements: Name Status Reglslratlon number East CT C,I.C, Company limited by shares (England & Wales) Company 08615580 The assels and liabilities of the subsidiary were.. 2024 2023 Currenl assets Creditors.. amount5 falling due within one year Net assels 70,530 70.430 100 80,649 80,549 100 Wallham Forest Community Transport Limited 28
Notes to the financial statements Year to 31 March 2024 17. Comparative information Unrestricted general Designated Restricted funds funds fu17ds To181 funds 2023 Income and expenditure Notes Income from.. Granls and donatlons Inveslments Charltable actlvltl8& Tol81 In¢om& 23, 650 2,673 1,440,897 7,467,220 70,000 33,650 2,673 1.440,897 1,477,220 10,000 Expendllure on., Charllabl8 8Ctlvlll8s Total 8xp8ndilur8 1,243.843 1,243,843 13,550 13,550 5,464 5,464 1,262,857 1, 262, 857 Nel Income Transfers Nel movemenl in funds 223,377 12 (388,550) 13 (160,173) (13,550) 388,550 375,000 4,536 274,363 4,536 214,363 Funds brougl)I fonv8rd 1 Aprll 2022 Funds carried fotW8rd al 37 Mah 2023 10 613,241 195,000 5, 769 874,010 448,068 570,000 70,305 1,028,373 Waltham Forest Community Transport Limited 29