## **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During 2021 £190,000 was withdrawn from our CCLA Investment Fund, and was used together with bank balances to make a loan of £250,000 to The Bus Archive to facilitate purchase of premises.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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