Waltham Forest
Community Transport
Limited
Annual Report and Flnancial
Statements
31 March 2025
Company Registration Number 03073284
{England and Wales)
Charity Reglstration Number 1048701

Contents
Reports
Reference and administrative information
Report of the Management Committee
Independent auditorfs report
10
Financial statements
Statement of financial activities
155
Balance sheet
16
Statement of cash flows
18
Principal accounting policies
19
Notes to the financial statements
22
Waltham Forest Community Transport Limited

Reference and administrative information
Members of the Management Committee
Paul Leslie (Acting Chair)
Sabir Bham (Acting Chair- resigned 8th
March 2025)
Richard Mundy (Treasurer)
David Williams
Company Secretary and Director
Helen Tredoux
Registered office
Low Hall Depot
Argall Avenue
London
E10 7AS
Telephone
020 85210665
Emall
info
c￿.co.uk
Website
www.communitytranspothf.co.uk
Company registered number
03073284 (England and Wales)
Charity reglstored number
1048701 (England and Wales)
Audltor
Buzza¢ott Audil 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 2025
The Management Committee presents its report with the financial statements of Waltham
Forest Community Transport for the year ended 31 March 2025.
This report, which constitutes a directors. report for company legislation purposes. has been
prepared in accordance with the special provisions for small companies under Part 15 of the
Companies Act 2006, and has been prepared in accordance wilh Part 8 of the Charities Act
2011.
The financial statements have been prepared in accordance with the principal accounting
policies set out on pages 19-21 and comply with the requirements of the Charities Act 2011,
the Companies Act 2006. the charitable company's Memorandum and Articles of
Association, applicable laws, and Accounting and Reporting by Charities: Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with
the Financial Reporting Standard applicable in the United Kingdom and Republlc of Ireland
(FRS 102>, and FRS 102.
Governan¢e, structure and management
Waltham Forest Community Transport (WFCT> is a charitable company, limited by
guarantee, Company No. 03073284 (England and Wales) and is registered with the Charity
Commission, Charity No. 1048701. The charitable company was incorporaled on June 22,
1995 and registered as a charity on August 16, 1995. The charitable company was
established under a Memorandum of Association, which established the objects and powers
of the charitable company and is governed under its Articles of AssoGiation. The
Memorandum and Articles were updated at a General Meeting on 31st March 2022. In the
event of the company being wound up, members a￿ required to contribute an amount not
exceeding £5.
The charity's senior employee has the title Director and Company Secretary but is not a
member of the Management Committee and therefore not a company director or charity
trustee.
Recrultment and appolntment of members of the Managèment Committee
The directors of the company are also charity trustees for the purposes of charity law and
are the Members of the Management Committee under the company's articles.
The MC aims to reflect the diverse needs of our user groups and their members. our
passengers. We actively seek to enhance the pool of potential committee members who are
represenlative of all areas of the community. Where gaps are identified, we target specific
areas for recruitment.
The MC reviews annually the existing skills of its members and seeks to gain outside support
from advisors and volunteers on specrfic issues (e.g. marketing). Training is offered to all
MC members (see below).
Waltham Forest Community Transport Limited

Report of the Management Commtttee Year to 31 March 2025
Governance, structure and management (continued)
Member induction and training
A member induction meeting is arranged for all new MC members immediately following the
AGM. This is usually led by the Company Secretary and Director of the charity. The initial
induction enables members to familiarise themselves with-
• the charitable company's governing documents
• the latest financial accounts
+ the obligations of members
+ procedures for meetings
the charity's staffing framework
New members a￿ encouraged to take up additional training opportunltles throughout their
term of office. Information regarding training opportunitles is provided to members. An
annual financial training session is provided to MC members.
The following members were in office at 31st March 2025 and served throughout the year
except where shown:
Board member
Appolnted I resigned
Dr Sabir Bham
Mr Paul Leslie
Mr Richard Mundy (Treasurer)
Mr David Williams
Resigned 8th March 2025
Key management personnel
Helen Tredoux
Director and Company Secretary
Nayyer Abbas Syed
General Manager
Alison Fowlerlouis
Fleet Supervisor
Remuneration for these personnel. and all staff, is set by comparison wlth similar voluntary
organisations. Despite the economic climate, we have managed to provide all staff with pay
increases at or above inflation. Community Transport Waltham Forest is one of the few
transport organisations accredited as a London Living Wage employer. The Management
Committee reviews salaries and hourly pay rates annually.
Risk Management
The Management Cotnmittee uses its annual busines5 planning process to ensure that it is
aware of the risks to which we are exposed. Where possible we have systems and
procedures in place to mitigate the risks facing the charity. We maintain a Risk Register,
which is reviewed by the Management Committee annually.
Examples of Risk Management include:
Waltham Forest Community Transport Limited

Report of the Management Committee Year to 31 March 2025
Governance, structure and management (continued)
Human Resources
There is a risk of losing key staff, work overload and reduced capability to respond to our
member groups, needs. We have appropriate back-up plans. Procedures are in place to
ensure compliance with standards for the employment and management of staff, as well as
the health and safety of staff, clients and visitors. To help ensure our compliance we have
contracted Croner Consultsncy to advise and support on HR matters.
Premises
We operate from a busy transport site owned by the London Borough of Waltham Forest
(LBWF). The need to avoid accidents bylwith people or vehicles is paramount. WFCT has
a staff member attending health and safety meetings affecting the charity's premises,
storage and parking. The results of these meetings are reported to members.
Drivers and Training
Our business depends on providing safe journeys 1000/0 of the time, Our drivers,
competence and attilude are key elements. Our Fleet Supervisor undertakes annu81 risk
assessments for the drivers we employ, and we receive professional support and advice
through the national Community Transport Association ICTA). We have adopted the
nationally recognised MIDAS system of driver training to ensure consistency in driver
standards. This system is used by WFCT and for drivers from our member groups which
use our vehicles on a self-drive basis. Stsff have DBS checks where appropriate.
VehiGles
We employ an external examiner to check all vehicles regularly. All recommended
maintenance and repairs are carried oul. We acquire newer minibuses by (a) purchasing
when funds are available and (b) leasing. The fleet is fully ULEZ-compliant. We intend
moving to even more environmentally friendly minibuses (hybrid andlor electric) as soon 8S
that becomes practicable.
Quality Standards
WFCT is accredited by the Fleet Operator Recognition Scheme (FORS) which aims to raise
the level of quality within fleet operations and to demonstrate which operators are achieving
exemplary levels of best practice in safety. efficiency, and environmental prolection. We are
audited annually by FORS.
Governance, structure and management (continued)
Organisational StruGture
The Members of WFCT are the trustees of the charity. They are the directors of the
company. They make up the management Gommittee. They may invite non-voting advisors.
The member5 are responsible for setting our strategic direction, ensuring compliance with
our governance and management of finances.
Waltham Forest Community Transport Limited

Report of the Management Committee Year to 31 March 2025
The Director is responsible to the Management Committee and is also Company Secretary.
Operational responsibility is delegated to the Director. The work of the charity, including
service provision, staff supervision and liaison with the national body, is undertaken by the
Director. along with the General Manager and Fleet Supervisor.
Members meet staff and reGeive verbal and appropriate written reports at regular meetings.
All meetings are minuted.
Related partses
WFCT is a member of the Community Transport Association {CTA). and we are guided by
its national policies. WFCT actively uses the advice and information services of the CTA.
Our Director represents us at the London CTA meetings. This is valuable In identifying
relevant policy and legal developments and potential funding sources.
We also work with many other local organisations and local authorities.
Our alms and objectlves
Our charity's purposes are set out in the objects contsined in the company's memorandum
of association:
THE OBJECTS of the Charity (the 'Objects") are, for the public benefit:
to relieve poverty youth age sickness or disability by, in particular but without
limitation. the provision of transport for individuals in need of such relief or to
charities or other organisations that benefit such persons. and
to promote social inclusion by preventlng people from becoming socially
excluded. relieving the needs of those people who are socially excluded and
assisting them to integrate into society.
For the purpose of this clause 'socially excluded, means being excluded from society, or
P8rt of society, as a result of one or more of the following faclors: poverty, youth or old age,
sickness or dls8bility.
How our activities deliverpublic benefit
The main area of WFCT'S charitable activity is the provision of minibus and associated
transport services to registered member groups. These are eligible groups who wish to use
WFCT'S services on an occasional basis or regularly to meet their group travel needs.
Who used and benefited from our services
WFCT provides transport and training to local organisations in East London. In 2024125 we
had 123 active member organisations spanning a wide range of voluntary, community and
statutory organisations. The breakdown of membership at the end of March 2025 showed
250/0 Adult and Social Care organisations, 13 % Arts and Culture, 50/0 Elderly and Disabled,
5°/. Faith. 7¥0 Public serVi￿S. 15% Schools and Colleges, 9% Sports. 140/0 Youth, 4%
Housing, and 3 % Uniformed.
Waltham Forest Community Transport Limited

Report of the Management Committee Year to 31 March 2025
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 Iheir members. During 2024125. we
achieved over 8,000 community hires carrying more than 94,000 passengers across all
services, including shuttle seNices for events at the London Stadium.
Gommunity Drivers
WFCT provides drivers to those organisations unable to provide their own.
Committed Seryices
Committed services, where member groups have ongoing committed bookings, include day
services for voluntary sector organisations and Adult and Social Care services. 1,709 trips
were undertaken.
Door to Store SeryiGe
WFCT operates a grant funded Door to Store shopping service for elderly and dlsabled
people in Waltham Forest. The service is funded by LBWF Adult and Social Care and forms
an important part of enabling the elderly to retsin their independence, by providing
accessible transport to local supermarkets for shopping. The service runs 2.5 days a week
offering 3 trips a day to various supermarkets, with specific days allocated to specific areas
in Waltham Forest. Door to Store continued through much of the year with 2,465
passengers using the service for outward and return journeys.
Dial a Ride Setvlces
We continued providing a number of Dial a Ride routes, carrylng 24,924 passengers over
the year.
Excurslons Club
WFCT operates a Waltharn Forest Excursions Club programme offering seasonal outlngs
to individuals at risk of suffering from isolalion and loneliness. During the year we ran 32
trips with 384 passengers on outings to places of interest.
Waltham Forest Community Drivlng School
WFCT has been a local provider of MIDAS (minibus awareness training) for more than 10
years. The training register is managed nationally through CTA UK and is aimed at anyone
driving a minibus. WFCT offers this service locally through a new online training system
tnanaged by CTA UK. The training schemes are monitored to ensure WFCT continues to
provide training to meet the needs of our member groups.
Monitoring
We use customer satisfaction surveys to measure the quality of our service and use
opportunities such as special consultations to ensure thatwe continue to review our ServI￿S
lo best meet our member organisations, needs.
Waltham Forest Community Transport Limited

Report of the Management Committee Year to 31 March 2025
Newham Community Transport
WFCT has been operating in Newham since 2011 and employs an Outreach Worker there,
funded from our resources.
Work focusses largely on reducing loneliness and isolation with additional vehicles available
for hire by groups in the borough. Services currently provided include the Time Together
Club (Sunday lunches for older people referred by agencies such as Social Prescribing) and
an Excursions Club offering seasonal outings. 24 trips were organised, with 64 individuals
taking part.
A large proportion of activity in 2024125 centred on delivery of our Heritage Lottery funded
'Charabancs & Cadillacs, project. This included 12 heritage trips and 12 lunches with oral
history and reminiscence sessions. Full project details Can be found at www.charabancsand
cadillacs.co.uk
Prlnclpal Funding Sources
830/0 of income from charitable activities came from committed seNices for our member
groups. 16.3 /0 came from occasional hires and 0.7910 from our Community Driving School.
We received £2.500 the L M Kendon Settlement Charity. which was used to help deliver the
Time Together Club in Newham every fortnight for lonely and isolated individuals. The
funding was fully utilised in the year.
Heritage Lottery Fund awarded a £140,600 grant for our Charabancs & Cadillacs project, of
which the final £94,215 was spent in the year (£46,445 was spent in the prevlous year).
We wlsh to thank all those who gave grants and donations. Their support increases
significantly the numbers of people who benefit from our servlces.
ULEZ Fleet replacement programme
This year we replaced a further 3 vehicles with compliant vehicles. Our fleet now fully m66ts
the Euro 6 standard. We aim for a continuing vehicle modernising programme as funds
permit.
Financial review
Financial Results
The statement of financial activities discloses a surplus in net incoming resources of
£101,452 (2024 - 65.056). Reserves at 31 March 2025 were.. unrestricted general funds -
£774,881 and designated funds- £420.000.
ReSen￿S Policy
WFCT maintains a cautious reserves policy. with the goal of being able to remain in
business, providing community services to our tnember groups. even when experiencing a
significant reduction in income.
Waltham Forest Community Transport Limited

Report of the Management Committee Year to 31 March 2025
Restricted funds arise from income granted to Community Transport that can be used only
for the purposes specified in the grant. Our Treasurer regularly monitors the costs allocated
against grants and reviews progress against the budget for each grant.
Designaled Reserve funds are used to maintain adequate security for known plans and
risks. At 31 March 2025 these totalled £420.000 for:
Core Costs (3 months, core staff. running and other costs).
Redundancy (to enable WFCT to redu￿ services or wind up because of
unexpected losses of funding. to ourselves or our member groups),.
Working Capital (to manage cash),
Future Community Servlces, to be delivered after year-end, and
Fleet Renewal.
Excluding designated funds, general unrestricted reserves tota5 £774,881 at 31 March 2025,
of which £308,964 were free reserves.
Responsibilbties of the mombers of the Managemont Commlttee
The Members of the Management Committee (who are also trustees of Wallham Forest
Community Transport for the purposes of charity law and direclors for the purposes of
company law) are responsible for preparlng the Report of the Management Committee and
the financial stalements, in accordance with applicable law and United Kingdom Accounting
Practice (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Management Committee to prepare financl81 statements for each
financial year which give a true and fair view of the affairs of the charitable company and of
the incoming resources and application of resources, including the income and expenditure,
of the charitable company for that period. In preparing these financial statements, the
members are required to:
+ select suitable accounting policies and then apply them ¢onsistenlly-
observe the methods and principles in Accounting and Reporting by Charities:
Statement of Recommended Practice applicable for charities preparing their accounts
in accordanGe with FRS 102.
make judgements and estimates thal are reasonable and prudent,.
state whelher applicable Uniled Kingdom Accounting Standards have been followed,
Subject to any material departures disclosed and explained in the financial statements.,
and
• prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the charitable company will continue in operation.
Waltham Forest Community Transport Limited

Report of the Management Committee Year to 31 March 2025
The Management Committee is responsible for keeping proper accounting records which
disclose with reasonable accuracy at any time the financial position of the charitable
company and which enable them to ensure Ihat the financial stalements comply with
Companies Act 2006. The members are also responsible for safeguarding the assets of the
charitable company and hence for taking reasonable steps for the prevention and detection
of fraud and other irregularities.
In so far as the Management Committee is aware:
• there is no relevant audit information of which the charitable company's auditor is
unaware., and
+ the members have taken all steps that they ought to have taken to make themselves
aware of any relevant audit information and to establish that the charitable company's
auditor is aware of that information.
The members are responsible for the maintenance and integrity of the corporate and
financial information included on charitable company's website. Legislation in the United
Kingdom governing the preparation and dissemination of financial stalements may differ
from legislations in other jurisdictions.
Date:
Q)9
2£-
Company Secretary
Waltham Forest Community Transport Limited

Independent auditor's report 31 March 2025
Independent auditoVs report to the members of Waltham Forest Community Transport
Limited
Opinion
We have audited the financial statements of Waltham Forest Community Transport Limited
(the'charitable parent company,) forthe year ended 31 March 2025 which comprise the group
statement of financial activities. the group and charitable parent company balance sheets,
and the group statement of cash flows. the principal accounting policies and the notes to the
financial statements. The financial reporting framework that has been applied in their
preparation is applicable law and United Kingdom Accounting Standards, including Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic
of Ireland, (United Kingdom Generally Accepted Accounting Practice),
In our oplnion, the fsnancial ststements:
give a true and fair view ofthe state of the group's and of the charitable parent company's
affairs as at 31 March 2025 and of its income and of the group's income and expenditure
for the year then ended,.
• have been properfy prepared in accordance with United Kingdom Generally Accepted
Accounting PraGtice,' and
• have been prepared in accordance with the requirements of the Companies AGt 2006.
Basis for oplnlon
We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs
(UK)) and applicable law. Our responsibilities under those standards are further described Sn
the auditor's responsibilities for the audit of the financial statements section of our report. We
are independent of the charitable company In accordance with the ethical requirements that
are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical
Standard, and we have fulfilled our other ethical responsibilitles in accordance with these
requirements. We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees, use of the going
concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed. we have not identified any material uncertainties
relating to events or conditions that. individually or collectively, may cast significant doubt on
the group and charitable parent company's ability ta continue as a going concern for a period
of at least ￿1ve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are
described in the relevant sections of this report.
Waltham Forest Community Transport Limited 10

Independent auditor's report 31 March 2025
other information
The other information comprises the information included in the annual report , including the
trustees, report, other than the financial statements and our auditor's report thereon. The
trustees are responsible for the other information contained within the annual report. Our
opinion on the financial statements does not cover the other information and. except to the
extent otherwise explicitly stated in our report. we do not express any form of assuran
conclusion thereon.
Our responsibility is to read the other information and. in doing so. conslder whether the other
information is materially inconsistent with the financial statements or our knowledge obtained
in the course of the audit or othenvise appears to be materially misstated. If we identify such
material inconsistencies or apparent material misstatemenls, we are required to determine
whether this gives rise to a material misstatement in the financial statemenls themselves. If,
based on the work we have performed, we conclude that there is a materlal misstatement of
this other information. we are required to report that fact.
We have nothing to report in this regard.
Oplnions on other matters prescrlb•d by the Companies Act 2006
In our opinion. based on the work undertaken in the course of the audit:
• the information given in the trustees. report, which is also the directors, report for the
purposes of company law, for the financial year for which the financial statements are
prepared Is consistent wllth the financlal statements. and
• the trustees, report, which is also the directors, report for the purposes of company law,
has been prepared in accordance with applicable legal requirements.
Matters on which we are requlred to report by exceptlon
In the light of the knowledge and understanding of the group and charitable parent company
and its environment obtained in the course of the audit. we have not identified material
misstatements in the trustees, report. We have nothing to report in respect of the following
matters in relation to whiGh the Companies Act 2006 requires us to report to you if, in our
opinion-
adequate accounting records have not been kept. or returns adequate for our audit have
not been received from branches not visited by us: or
• the charitsble parent company financial statements are not in agreement with the
accounting records and returns-, or
certain disclosures of trustees. remuneration specified by law are not made,. or
we have not received all the information and explanations we require for our audit-, or
• the trustees were not entitled to prepare the financial statements in accordance with the
Waltham Forest Community Transport Limited 11

Independent auditorfs report 31 March 2025
small COTnpanies regime and take advantage of the small companies, exemptions in
preparing the trustees, report and from the requirement to prepare a strategic report.
Responsibilities of trustees
As explained more fully in the trustees. responsibilities statement, the trustees (who are also
the directors of the charitable company for the purposes of Gompany law) are responsible for
the preparation of the financial statements and for being satisfied Ihat they give a true and fair
view, and for such internal control as the trustees delermine is necessary to enable the
preparation of financial statements that are free from material misstatement, whether due to
fraud or error.
In preparin9 the financial statements, the trustees are responsible for assessing the group's
and the charitable parent company's ability to continue as a going concern, discloslng, as
applicable, matters related to going concern and using the going concern basis of accounting
unless the trustees either intend to liquidate the group or the charitable parenl company or to
cease operations, or have no realistic alternative but to do so.
Auditor's responslbilities for the audlt ol the financlal statements
Our objectives are to obtain reasonable assurance about whether the financial statements as
a whole are free from material misstatement, whether due to fraud or error, and to issue an
auditor's report that includes our opinion. Reasonable assurance is a high level of assurance,
but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect
a material misstatement when it exists. Misstatements can arise from fr8ud or error and are
considered material if. individually or in the aggregate, they could reasonably be expected to
influence the economic decisions of users laken on the basis of these financialstatements,
Irregularitles, induding fraud, are instances of non-compliance with laws and regulations. We
design procedures in line with our responsibililies, outlined above, to detect material
misstatements in respect of irregularities, including fraud, The extent to whlch our procedures
8re capable of detecting irregularities, including fraud is detailed below..
Our approach to identfying and assessing the risks of material misstatement in respect of
irregularities. including fraud and non-compliance with laws and regulations, was as follows:
• the engagement partner ensured that the engagement team collectively had the
appropriate cofflpeten￿, capabilities and skills to identify or recognise non-compliance
with applicable laws and regulations,-
• we obtained an understanding of the legal and regulatory frameworks that are applicable
to the group and the charitable parent company and determined that the most significant
frameworks which are directly relevant to specific assertions in the financial statements
are those that relate to the reporting framework (Statement of Recommended Practice:
Accounting and Reporting by Charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland
(FRS 102) and the Companies Act 2006). those that relate to employment and data
protection (General Data Protection Regulation). bus safety legislation and the Transport
Act 1985:
Waltham Forest Community Transport Limited 12

Independent auditor's report 31 March 2025
• We understood how the group and charitable parent company are complying with those
legal and regulatory frameworks by making enquiries of management and those
responsible for legal and compliance procedures. We corroborated our enquiries through
our review of the minutes of trustees, meetings. and
• Identified laws and regulations were also communicated within the audit team regularly
and the team remained alert to InStan￿S of non-compliance throughout the audit.
We assessed the susceptibility of the group and charitable parent company's financial
statements to material misstatement. including obtaining an understanding of how fraud
might occur. by:
making enquiries of management as io thelr knowledge of actual, suspected and alleged
fraud; and
considering the internal controls in place to mltlgate risks of fraud and non-complianGe
with laws and regulations.
To address the risk of fraud through management bias and override of controls we.,
• performed analytical procedures to identify any unusual or unexpected relationships:
• tested journal entries to identrfy unusual transactions;
assessed whether judgements and assumptions made in determining the accounting
estimates were indicative of potential bias;
• tested authorisation controls on expenditure items, to check that all expenditure was
approved in line with the group and charltable parent company's financial procedures,,
• agreed financial statement disclosures to underlying supporting documentation.
+ read the minutes of meetings of those charged with governance,, and
enquired of management as to actual and potential litigation and claims.
There are inherent limitstions in our audit procedures described above. The more removed
that laws and Tegulations are from financial transactions. the les5 likely it is that we would
become aware of non-compliance. Auditing standards also limit the audit procedures
required to identity non-compliance with laws and regulations to enquiry of the trustees and
other management and the inspection of regulatory and legal correspondence. if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise
from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities is available on the Financial Reporting Council's
website at YMw.frG.org.uklauditorsresponsibilities. This description forms part of our auditor's
report.
Waltham Forest Community Transport Limited 13

Independent auditor's report 31 March 2025
Use of our report
This report is made solely to the charitable company's Members, as a body, in accordance
with Chapter 3 of Part 16 of the Companies Act 2006. Our audil work has been undertaken
so that we might state to the charitable company's members those matters we are required to
state to them in an auditor's report and for no other purpose. To the fullest extent permitted
by law, we do not accept or assume responsibility to anyone other than the charitable
company and the charitable company's members as a body, for our audit work, for this report,
or for the opinions we have formed.
Edward Flnch (Senior Statutory Auditor)
For and on behalf of Buzzacott Audit LLP, Statutory Auditor
130 Wood Street
London
EC2V 6DL
6 October 2025
Waltham Forest Community Transport Limited 14

Consolidated statement of financial activities (including the Income and Expenditure
Account) Year to 31 March 2025
unrestr.cled
general Designated Restricted
funds
funds
funds
Total
funds
2025
Total
fund5
2024
Notes
Income and expenditure
Income from:
Grants and donattons
Investrnenls
Charitable acAivibes
Dlsposal of fixed assets
Total income
37.125
8,124
1,535,367
18.938
1.599,5S4
96.715
133.840
73,674
8,124
7,448
1.535,367 1,4TI,108
18.938
96.715 1,696,269 1,558,230
Expendlture on:
Charitable activities
Totsl exp8ndltllTe
1,498.102
1.498,102
96,715 1,594.817 1,493,174
96,715 1.$94,817 1,493,174
Net In¢omo
Transfers
N•t m0￿M￿nt In funds
101.452
(s,0001
96.452
101.452
65,056
11
5,000
5,000
101.452
65.056
Funds brought foTh¥ard 01 Apdl 2024
12
678.429
415.000
1,093,429 1,028,373
Funds carrled forward at 31 March 2025
774,881
420.000
1,194,881 1,093,429
The statement of financial activities includes all gains and losses in the year, and therefore a
separate statement of total recognised gains and losses has not been prepared.
All of the above amounts are related to continuing activities.
Waltham Forest Community Transport Limited 15

Consolidated balance sheet 31 March 2025
Notes
2025
2025
2024
2024
Fixed assets
Tangible assets
465,917
461,621
Current assets
Debtors and prepayments
Cash at bank and in hand
240.362
544,486
784.848
239,860
465,152
705.012
Current Ilabilities
Creditors and accrued expenses
55,884
73,204
Net current assels
728,964
631,808
Total net assets
1,194,881
1,093,429
The fvnds of the charlty:
Funds and reserves
Unrestricted
. General
. Designated
Restricted funds
774,881
420,000
678,429
415,000
10
1,194,881
1,093,429
These financial statements were approved by the members of the Management Committee
and signed on its behalf by:
Date..
Company registration number: 03073284
The notes on pages 22 to 30 form part of these accounts.
Waltham Forest Community Transport Limited 16

Charity balance sheet 31 March 2025
Notes
2025
2025
2024
2024
Fixed assets
Tangible assets
465,917
461,621
Current assets
Debtors and prepayments
Loan to East CT CIC
Cash at bank and in hand
240,362
70,250
474,086
784.698
239,860
70,250
394,622
704.732
15
Current Ilabilities
Creditors and acCrt￿d expenses
55,884
73,204
Net current assets
728,814
631,528
Total net assets
1,194,731
1,093,149
The funds of the charlty:
Funds and reserves
Unrestricted
. General
. Designated
Restricted funds
774,731
420,000
678,149
415,000
10
11
1,194,731
1,093,149
These financial statements were approved by the members of the Management Committee
and signed on its behalf by:
Date:
lo
Ys
Company registration number: 03073284
The notes on pages 22 to 30 form part of these accounts.
Waltham Forest Community Transport Limited 17

Consolidated statement of cash flows year to 31 March 2025
2025
2024
Notes
Cash flows from operating activities:
Net cash provided by operdting activtlies
190 414
Cash flows from investing activities:
Purchase of tsngible fixed assets
Net cash used in invèsting activltles
111080
111080
228 360
228 360
Change In cash and cash equlvalents In the year
79,334
(64,911)
Cash and cash equlvalents at 1 Aprll 2024
465,152
530,063
Cash and cash equlvalents at 31 March 2025
Notes to the statement of cash flows for the year to 31 March 2025
A R8¢onclllatlon of net movement In funds to net cash provided by oporatlng actlvltles
2025
2024
Net movement In funds (as per the statement of tlnanclal actlvltles)
Adjustments for:
Depreciation charge
(Increase) In debtors
(Decreaseifincrease in creditors
Net Cash provlded by operatlng actlvltles
101,452
65,054
106,784
{502)
82,896
<2,085)
190 414
8 Analysis of cash and cash equlvalents
2025
2024
Cash at bank and Sn hand
Total cash and cash equivalents
544,486
544.486
465,152
465,152
No separate reconciliation of net debt has been prepared as there is no difference
between the nel cash {debt) of the Gharity and the above cash and cash equivalents.
Waltham Forest Community Transport Limited 18

Principal accounting policies 31 March 2025
The principal accounting policies adopted, judgernents and key SoUr￿S of estimation
uncertainty in the preparation of the accounts are laid oul below.
Basis of preparation
These financial statements have been prepared for the year to 31 March 2025.
The financial statements have been prepared under the historical cost convention with items
recognised at cost or transaction value unless otherwise stated in the relevant accounting
policies below or the notes to these financial statements.
The financial statements have been prepared in accordance with Accounting and Reporting
by Charities.. Statement of Recommended Practice applicable to charities preparing their
financial statements in accordance with the Financial Reporting Standard applicable in the
United Kingdom and Republic of Ireland (FRS 102} (Charities SORP FRS 102) secon
edition issued in October 2019, the Financial Reporting Standard applicable in the UK and
Republic of Ireland (FRS 102) and the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
The financial statements are presented in sterling and are rounded to the nearest pound.
Basis of consolidation
The consolidated statement of financial activities and group balance sheet consolidate the
financial statements of Waltham Forest Community Transport Limited and its subsidiaries,
made up at the balance sheet date as Waltham Forest Community Transport Limited either
owns the entire share capital of the subsidiary or assumes control of the entity.
Crltlcal accountlng •stimat•s and aroas of judg•m•nt
Preparation of the financial statements requires the members of the management committee
to make significant judgements and estimates.
The Items In the financial statements where these judgements and estimates have been
made include:
estimating the useful economic life of tangible fixed assets., and
apportionment of expenditure across each aclivity.
Assessment of going concern
The members of the management committee have assessed whether the use of the going
concern assumption is appropriate in preparing these financial statements. The trustees
have Tnade this assessment with respect to a period of one year from the date of approval
of these fsnancial statements.
The members of the management committee of the charity have concluded that there are
no material uncertainties related to events or conditions that may cast significant doubt on
the abilily of the charity to continue as a going COn￿rn. The trustees are of the opinion that
the charity will have sufficient resources to meet its liabilities as they fall due. The most
significant areas of judgement that affect items in the accounts are detailed above.
Waltham Forest Community Transport Limited 19

Principal accounting policies 31 March 2025
Fund accounting
Unrestricted general funds are available for use at the discretion of the members in
furtheran￿ of the general objectives of the charity.
Designated funds are unrestricted funds earmarked by the members for particular purposes.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or
through the terms of an appeal.
Income recognition
All income is included in the statement of financial activities when the charitable company
is entitled to the income and the amount can be quantified with reasonable accuracy. The
following specific poli¢les are applied to particular categories of income.,
Voluniary Income is received by way of grants, donations and gifts and is included in
full when the charity becomes unconditionally entitled to the grant.
• Grant income, which is related to performance and specific deliverables, Is accounted
for as the charity earns the right to consideration by its performance.
• Donated services and facilities are included at the value to the charitable company
where this can be quantified. The value of services provided by volunteers has not been
included in these acLounts.
• Investment income is included when received.
• Income from charitable activities is accounted for when earned.
Expendlture
Expenditure is recognised on an accrual basis as a liability is incurred. Expendlture Includes
any VAT which cannot be fully recovered, and is reported as part of the expenditure to which
it relates:
Charltsble expenditure comprises those costs incurred by the charity in the delivery of Its
activities and services for its beneficiaries. It includes both costs that can be allocated
directly to such activities and those costs of an indirect nature necessary lo support them.
Governance costs include those costs associated with meeting the constitutional and
statutory requirements of the Gharity and include the audit fees and costs linked to the
strategic tnanagement of the charitable company.
Operating lease agreements
Rentals applicable to operating leases where substanlially 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 accounting policies 31 March 2025
Tangible fixed assets
Capital expenditure on items costing £5,000 or over is depreciated at rates designed to write
off the costs over the estimated useful lives of the assets. calculated on the straight-line
method, less any residual value. First-year depreciation on assets costing more than £5.000
is calculated pro rata in the year in which Ihey were purchased. Improvements to premises
will be written off. on the straight-line method. over the life of the lease during which the
expenditure is incurred.
Depreciation is provided at the following annual rates on a straight-line basis in order to write
off each asset over its estimated useful life:
+ Office equipment
250/0 on Cost
Vehicles
10_200A on cost
Debtors
Debtors are recognised at their settlement amount. less any provision for non-recoverability.
Prepayments are valued at the amount prepaid. They have been discounted to the present
value of the future cash receipt where such discounting is material.
Cash at bank and in hand
Cash at bank and in hand represents such accounts and instruments that are available on
demand or have a maturity of less than three months from the date of acquisition.
Creditors and provisions
Creditors and provisions are reGognised when there is an obligation at the balance sheet
date as a result of a past event. it is probable that a transfer of economic benefit will be
required in setllement, and the amount of the setllement can be estimated reliably. Credltors
and provisions are recognised at the amount the charity antlclpales it will pay to settle the
debt. They have been discounted to the present value of the future cash payment where
such dlscounting is material.
Parent charlty Information
The parent charity, Waltham Forest Communrty Transport Limited, had total income of
£1,6g6,269 (2024 - £1,558,230) and net income of £101,452 for the year ended 31 March
2025 (2024 - £65,056). The parent company has taken advantage of the exemption from
preparing a separate income statement and statement of cash flows.
No separate statement of financial activitie5 has been presented for Waltham Forest
Community Transport Limited alone. as permitted by s408 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 2025
1 Company limited by guarantee
Waltham Forest Community Transport Limited is a company limited by guarantee, and
accordingly does not have a share capital.
Every member of the company undertakes to contribute such amounls as may be required,
not exceeding £5, to the assets of the charitable company in the event of it being wound up
while he or she is a member, or within one year after he or she ceases to be a member.
2 Taxatlon
Waltham Forest Community Transport is a registered charity and therefore is not liable to
income lax or corporation tax on income derived from its charitable activities, as it falls within
the various exemptions available to registered charities.
3 Grants and donations
Unrestricled Restrlcted
funds
funds
2025
Department for Transport. Bus SeNice Operators
The L M Kendon Settiement
Heritage Lottery
2025 Totsl funds
37,125
37,125
2,500
94,215
133,840
2,500
94,215
96,715
37,125
Unrestricted Restricted
funds
funds
2024
Department for Transport, Bus Servlce Operators
Heritage Lottery
2024 Total funds
27,229
46,445
73,674
27,229
46,445
73,674
Grant providers have reservation of title to those assets Scquired with their capltal grants,
in the event of the company ceasing to exist.
Waltham Forest Community Transport Limited 22

Notes to the financial statements Year to 31 March 2025
4 Income from charitable activities
Unrestricted Restricted
funds
funds
2025
Committed bookings fees and fares
Membership fees (net of VAT)
Community vehicle use
Training to third parties
2025 Total funds
1.272,097
2.933
249,697
10,640
1,535,367
1.272.097
2.933
249.697
10,640
1,535,367
Unr8Stricted R8Stricted
funds
funds
2024
Committed bookings fees and fares
Membership fees (net ofVAT)
Communty vehicle use
Training to third parties
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
5 Total resources expended
Total
funds
2025
Committed Casual Drivlng
Bookings Bookings
School
Gover-
nance
Costs directly allocated
to activities
. Staff
. Vehicles
. Audit fee
Statutory
Mediczl
Core insurance
Marketing
. Consultancy
Driving School
186,950 36,6
413,642 81,193
1,564
3,460
225,210
498,295
9,090
315
178
6,206
1.872
325
11,562
9,090
315
148
29
6,206
1,554
270
305
53
13
11,562
Support cost allocated
to actiwties
. Staff
Premises
. Office njnning costs
Other support costs
Total funds
589,847 115.780
4.934
12,452
2.444
104
32.898
6.458
275
63,456 12,455
531
1,301.217 255,413 22,446
710,561
15,000
39,761
76,442
15,741 1,594,817
130
WaStham Forest Community Transport Limited 23

Notes to the financial statements Year to 31 March 2025
Total resources expended (continued)
Total
funds
2024
Commttied Casual Driving
Bookings Bookings
School
Gover-
nance
Costs direcuy allocated
to activities
. staff
Vehicles
Audit fee
. ststutory
Medical
. Core insuranc8
Marketing
Consultancy
Driving School
183.825 34.026
425,386 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
6,187
16,845
6,059
3,118
1,122
143
51
9,562
Support cost allocated
to activities
. Staff
. Premises
Office running costs
. Other support costs
Total funds
517.529 95,794
4,386
10.474
1,938
88
33,863
6.246
286
38,606
7,146
327
1,233,123 228,228 20,011
617,709
12,500
40,395
46,079
11,812 1,493,174
Costs are apportioned across charitable activities based on the proportion of Income
received for that activlty during the year.
Comparative information for expenditu￿, by fund, is as follows:
Total
funds
2024
Unrestricted Restricted Designated
funds
funds
funds
Expendlture
Charitable activtties
Total expenditure
1,482,869
1,482.869
10,305
10,305
1,493,174
1,493,174
5 Staff costs and emoluments
2025
2024
Wages and salaries
Social security costs
796,742
58,389
855,131
25,906
881.037
762,692
52,755
815.447
21,671
837,118
Other staff costs
No employee received emoluments of more than £60,000 in the year (2024: Nil).
Waltham Forest Community Transport Limited 24

Notes to the financial statements Year to 31 March 2025
6 Staff costs and emoluments (continued)
2025
2024
No.
30
Average number of employees {￿E}
29
2025
2024
No.
42
Average number of employees (headcount basis)
41
The aggregate remuneration of key management personnel {Director and Fleel Supervisor)
totalled £103,834 (2024- £108,295).
Member remuneration and related party transactions., none (2024: none). No members
received any remuneration during the year (2024: none>- Expenses amounling to £nil {2024:
£nil) were reimbursed to. or paid on behalf of, members of the Management Committee.
7 Tanglble assets
Vehicles
Group and charlty
Cost
At 1 April 2024
Additions
Oispos81s
At 31 March 2025
793,840
111,080
(78,881)
826,039
Depreclatlon
At 1 Aprll 2024
Dlsposals
Annual charge
At 31 March 2025
332,219
(78,881)
106,784
360,122
Net book value
At 31 March 2025
At 31 March 2024
465,917
461,621
8 Debtors
Group
2025
Charity
2025
2024
2024
Trade debtors
Accrued Income
Prepayments
VAT recoverdble
96,425
98,434
26,689
18,814
240,362
103,508
93,188
23,075
20,089
239,860
96,425
98,434
26,689
18,814
240,362
103,508
93.188
23.075
20.089
239.860
Waltham Forest Community Transport Limited 25

Notes to the financial statements Year to 31 March 2025
9 Creditors and accrued expenses, amount falling due within one year
Group
Charity
2025
2025
2024
2024
Trade creditors
Accnjals
Other creditors
Social Security and other laxes
22,412
5,000
(181)
28,653
55,884
38,547
4,500
{181)
30.338
73,204
22,412
5,000
(181)
28,653
55,884
38,547
4,500
(181)
30.338
73,204
10 Restricted funds
Asat
1 April
2024
Asat
31 March
2025
Income Expenditur8
Group and charl
Heritage Lottery
LM Kendon Settlement
94,215
2,500
96,715
94.215
2,500
96,715
Asat
1 April
2023
A8al
31 March
2024
Incom8 Expendlture
Grou
and charlt
Walthamstow and Chingford Almshouses
Awards for All Communlty Fund
5.769
4,536
10,305
5,769
4,536
10,305
Purposes of restricted income funds..
• Heritage Lottery is for Charab8ncs & Cadillacs project.
• LM Kendon Settiement was for the Time Together Club.
• Walthamstow and Chingford Almshouses was for driver training.
• Awards of All is the Time Together Club.
Waltham Forest Community Transport Limited 26

Notes to the financial statements Year to 31 March 2025
11. Designated funds
Asat
1 April
2024 Transfers
Asat
31 March
2025
Group and charity
Core costs
Redundancy fund
Working ca￿￿1
Future Communty Servlces
Fleet Renewal
70,000
25,000
150.000
50.000
120,000
415,000
15,000
10,000
30.000
85.000
35.000
180.000
50,000
70,000
420,000
{50,000)
5,000
Asat
1 April
2023 Transfers
Asat
31 March
2024
Group and charlty
Core costs
Redundancy fund
Working Capital
Future Community SeNices
Leases
Fleet Renewal
95,000
25,000
100.000
50.000
50.000
250.000
570,000
(25,000)
70,000
25,000
150,000
50,000
50,000
150,000)
(130,000)
(155,000)
120,000
415,000
Purposes of designated funds..
Core costs are to cover 3 months, costs for permanent staff and office and runnlng
expenses etc.
• The redundancy fund is to cover the cost of reducing services or winding up and is
based on statutory redundancy levels.
Working capital is to provide cash, allowing for delays awaiting payments against our
invoices.
+ Future Community Services relates to community work to be deltvered after 31 St March
2025.
Fleet Renewal is for purchasing vehicles.
Waltham Forest Community Transport Limited 27

Notes to the financial statements Year to 31 March 2025
12. Net assets between funds
Unrestricted
funds
Designated Restricted
funds
funds
Total
2025
Fixed assets
Current assets
Current liabilities
465,917
364,848
(55.884)
774,881
465.917
784,848
(55,884)
1,194,881
420,000
420,00
Unrestricted D88ignated Restrictad
funds
funds
funds
Total
2024
Fixed assets
Current assets
Current Ilabllit18S
461,621
290,012
(73,204)
678,429
461,621
705,012
(73,204)
1,093,429
415,000
415,000
Net movement in funds
This is stated after charging:
2025
2024
Depreclatlon
Audllols remuneration
Operatlng lease charges (Plant and ma¢hln8ry}
108,784
9,090
98,995
82,896
5,500
105,018
12 Operating lease Commltments
At 31 March 2025, the total minimum lesse payments under non-cancellable operating
leases were:
2025
2024
Operating lease commitments:
Within one year
Between one to five years
Total
75,640
177,920
253,560
79,272
244,640
323.912
Waltham Forest Community Transport Limited 28

Notes to the financial statements Year to 31 March 2025
13 Related parties
East CT Community Interest Company {'East CT,) is a wholly owned subsidiary of WFCT,
set up to undertake commercial trading. It has not yet Iraded. Helen Tredoux (WFCT
Company Secretary) and Richard Mundy {WFCT Treasurer) are directors of Easl CT. WFCT
has loaned £70,250 (2024.. £70,250) to East CT for slart-up costs and working capital. The
loan is repayable on demand. East CT has been set up lo provide transport services in East
London with an emphasis on accessible and affordable transport for the widest range of
local individuals, groups and organisations. As such the granting of the loan is considered
to be within the charitable objects of WFCT. Furthermore, the sole beneficiary of East CT
CIC is WFCT.
Owing to the nature of the WFCT operations and the composition of the members of the
Management Committee, being drawn from local organisations, it is inevitable that
tran58Ctions will take pla￿ with organisatlons in which a member may have an interest, All
transactions involving such organisations are conducted at arm's length and in accordance
with the charity's financial regulations and normal procurement procedures.
14 Subsldiary company
At the year end, Waltham Forest Community Transport Limited Gontrols the following
subsidiary entity. which is consolidated in these financial statements:
Name
Status
Registratlon number
East CT C,I.C.
Company limited by
shares {England & Wales)
Company 08615580
The assets and liabilities of the subsidiary were:
2025
2024
Current assets
Credltors: amounts fallSng due wlthln one year
Nel assets
70,400
70,300
100
70,530
70,430
100
Waltham Forest Community Transport Limited 29

Notes to the financial statements Year to 31 March 2025
15 Comparative information
Unrestricted
general DesI￿ated Reslrrcted
fijnds
fund5
funds
Total
funds
2024
Notes
Income and expenditurè
In¢om• from:
Grants and donations
Investments
Charitable activities
Totsl Income
73.674
7.448
1.477,108
1.558.230
73,674
7.448
1,477,108
1,558,230
Expéndlture on:
Charitable activities
Total oxpendituie
1,482.869
1.482.869
10,305 1,493,174
10.305 1,493,174
Net Incom&
Transfers
Net movoment In funds
75.361
155,000 1155.000}
230,361 1155,0001 110,3051
110,3051
65,058
12
13
65,056
Funds brought forward 1 April 2023
10
448.068
570.000
10.305 1.028.373
Funds carrl•d forward at 31 March 2024
678.429
415,QOO
1,093,429
Waltham Forest Community Transport Limited 30