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¥1￿￿J
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 Ma￿h
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