Omnibus Society
Abridged accounts for the year ended 31 December 2021
Introduction
These abridged accounts are a summary of the accounts for the Omnibus Society. They consist of a summary Balance Sheet and summary Statement of Financial Activities. They have been prepared by the Treasurer for members' review prior to the AGM.
They are based on the statutory accounts which have been reviewed by the Independent Examiner as required by the Companies Act and the Charities Act.
The full Statutory Accounts and the Independent Examiner's report will be presented to members at the AGM on 30th September 2022.
If any member would like to receive a full copy of the Statutory Accounts in advance of the AGM please contact the Treasurer, by email (treasurer@omnibus-society.org) or write to Omnibus Society, 100 - 102 Sandwell St, Walsall WS1 3EB.
Commentary on the accounts
Activities in the year continued to be severely curtailed due to the Coronavirus pandemic, so fewer meetings and trips took place. Nevertheless through the efforts of many, the Omnibus Magazine, bulletins and journals continued to be published.
Overall the reserves of Omnibus Society have risen to £451,796 at the year-end (2020 - £430,204).
For the year the operating deficit was £2,473 (2020 - operating deficit of £3,630 before adding in legacies received) and our investments grew in value by £23,819 (2020 - £24,233).
During 2021 £190,000 was withdrawn from our CCLA Investment Fund, and was used together with bank balances to make a loan of £250,000 to The Bus Archive to facilitate purchase of premises. This is interest free and repayable within 5 years.
Omnibus Society Summary Balance Sheet as at 31 December 2021
| Fixed Assets Investments Current Assets Debtors Stock of books Loan to Bus Archive Cash at bank and in hand Current liabilities Total Net Assets Reserves (as detailed below) Opening Reserves 1 January 2021 Surplus for the year Closing Reserves 31 December 2021 |
2021 2020 £ £ 176,791 342,972 13,951 1,590 4,396 250,000 33,761 131,739 |
|---|---|
| 302,108 133,329 27,103 46,097 |
|
| 451,796 430,204 |
|
| 451,796 430,204 |
|
| 430,204 21,592 451,796 |
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Omnibus Society
Summary statement of financial activities Year to 31 December 2021
| Omnibus Society Summary statement of financial activities Year to 31 December 2021 |
||
|---|---|---|
| Income Members' subs Photograph sales and royalties Book sales Sundry income Other donations Gift Aid received fom HMRC Dividends and interest received Total income Expenditure Members' activities OM magazine printing and distribution Support to branches and Affiliates Photo costs Book production costs(net of closing stock) Bursary General expenses Stationery, postage and printing Insurance Internet & website costs London meetings Non-Council Travel and meeting costs Bank charges Advertising Governance Costs Council Travel and meeting costs Accountancy and legal fees Total Expenditure Net surplus(deficit) for the year before non- revenue items Add non-revenue income: Legacies received Net Gain in investment value Total surplus/(deficit) for the year |
2021 27,106 6,239 8,433 0 962 7,737 27 |
2020 25,078 1,995 0 245 515 9,911 584 |
| 50,504 13,887 20,017 3,290 3,245 1,800 1,047 713 2,245 2,350 203 977 2,075 648 480 52,977 |
38,328 13,663 20,835 569 0 0 603 855 1,384 0 312 672 2,410 119 536 41,958 |
|
| -2,473 246 23,819 |
-3,630 0 24,233 |
|
| 21,592 | 20,603 |
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