THE OMNIBUS soaETY IA COMPANY UMITED BY GUARANTEE) TRUSTEES. REPORT AND RNANaAL sfATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 COMPANY NUMBER: 3081365 {ENGLAND & WALES) CHARtrY NUMBER: 1048887 CONTENTS Page Legal and administratbve infomiation Trusteeg Report Independent Examinerfs Report Statement of Financlal Activities Balan Sheet Statement of Cash Flows Notes to the financial Artivities 9-11
THE OMNIBUS soaETY (A COMPANY UMITED BY GUARANTEE) LEGAL AND ADMINISTrATIVE INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2022 Trustees D Akrlgg N W Eggleton C Gill AP Gipson PW Kirk G J Lusher J H Peddle AP Tyldslev D C Grimmett (appointed 21 March 20221 Secretsry M Yelton coMnY Number 3081365 Charlty Number 1048887 Prlncipal Office & Reglstered Office 100 Sandwell Street Walsall WSI 3EB Reportlng Accountants The Barker Partnership Chartered Accountants 44 Kirkgate Ripon North York5hlre HG4 IPB
THE OMNIBUS SOCIETY (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT FOR THE YEAR ENDED 310ECEM8ER 2022 The Trustees present their report and accounts for the year ended 31 December 2022. Constitution and Objects The organisation 15 a charitable company limited by guarnntee, incorporated on 19 July 1995 and reglstered as a charity on 26 August 1995. The charivs objects and regulations are govemed by the memorandum and articles of association. The object of the charity is to advance the education of the public in the history of road passenger transport. Tru5tets, Trustees and Prlnclpal Officers The trustee5 of the charitable company are its trustees for the purpose of charity law and throughout this report are collectively referred to asthe trustees. The trusteesthat served inthe period are shown on page 2. New trustee5 are selected based on the skills they can provide in order to ensure proper governance of the company. Prospective trustees are interviewed and when aptK)inted provided with appropriate induction. Publlc beneflt The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectlves and in planning our future activities. In particular the trustees consider how activities will contribute to the aims and objective5 they have set. Reserves policv The Trustees have reviewed the charltrfs requirements for serveS in light of the main risks to the organisation. The reseyves are needed to meet the working capltal requirements of the charity on an annual basis and the trustees are mindful of the need to keep the unrestrlcted reseNes at a level which will meet these requirements. Summary of a¢tivitles In the year Activities In the year fully resumed after the restri¢tlons caused by the Coronavirus pandemic, with more fewer trips. lectures and meetings taking place. The Omnibus Magazine, bulletins and journals continued to be published. along with several books, Summary of the financlal performance Total income decreased from £50750 to £44291, partly due to a decrease in revenue from book sales. Expenses increased to a website upgrade costing £12540. Overall, an operating deficit of £17,66412021- deficit £6731 and after charitable grants of £8875 and unrealised investment losses of £17,63512021- gain £23,819), there was a totsl deficit of £40,67412021 surplus £21.5921.
THE OMNIBUS soaETY (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 (continued) £20,0 was withdrawn from investments in the year to fund the deficit. Over the year the reseryes of Omnibus Society have fallen to £411,12212021- £451,7961- The trustees believe this still represents a very healthy reserve to sustain the future operations of the Society and they continue to seek opportunities to use this to further the Societys charitsble objectives. In the year grants of £8875 were made and after the yearend a grant of £7,500 was made to Friends of London Transport Museum to assist in document scanning of old records. Trustees, responslbillties The trustees are responsible ft)r preparing the Trusteeg Annual Report and the accounts in accordance with applicable law and UK Generally Accepted Accounting Practice. Company law requires the trustees to prepare the financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resour5 and application of resources, including the income & expenditure, of the charltable company for that period. In preparing these financial statements the trustee5 are required to: al select suitable accountinB policies and then apply them consi5tentlv: b) observe the methods and principles in the Charities SORP,. c) make judgements and estimates that are reasonable and prudent,. dl state whether applicable UK Accounting Standards have been followed, Subject to any material departures disclosed and explained in the financial statements and. el prepare the financial statements on a going concern basis unless it Is inappropriate to assume that the charltable company will continue in operation. The trustees have overall responsibllity for ensuring that the charitsble company has appropriate systems of tontrol, financial and otherwise. They are responsible for keeping proper accounting r@cords whlch disclose with reasonable accuracy at any time the financial position of the charitable company and which enable them to ensure that the financial statements comply with the Companies Act 2006. They 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. Small Company Provlsions This report has been prepared in accordance with the Statements of Recommended Practice: Accounting and Reporting by Charities (issued in January 20191 and in accordance with the special provisions for small compaT)ies under part 15 of the Companies Act 2(X)6. This report was approved by the trustees and signed on its behalf by- Date C Gill, Treasur
ThE OMNIBUS SOCIEfY- IA COMPANY UMITED BY GUARANTEE) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 I report on the accounts for The Omnibus Society Limited Icharity number 1048887) for the year ended 31 December 2022 which are set out on pages 6 to 11. Respectlve responslbillties of trustees and examlner The charivs trustees (who are also directors of the company under company lawl are responsible for the prepardtlon of the accounts. The trustees consider that an audit is not required this year under Section 144 of the Charities Art 2011 and that an independent examination is needed. Havin8 satisfied myself that the charity Is not subject to audit under Part 16 of the Companies Art 2006 and 15 eligible for independent examination, it is my responsibility to: examine the accounts under section 145 of the Charities Act 2011 to follow the procedures laid down in the General Dirertions given by the Charity Commission lunder section 1451511bl of the 2011 Act): and to state whether particular matters have come to my attention Basis of the Independent examlnerfs reixirt My examination was carried out in accordance with the General Directions Biven by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosuS in the accounts. and seeking explanations from you as trustees conceming any such matters. The ProdureS undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. Independent examlnerf5 ststement In connection with my examination. no matter has come to my attention: whlch glves me reasonable cause to believe that in any material respect, the requlrement5'. to keep proper accounting records lin accordance wfth 5ectlon 386 of the Companies Ad 20061; and to prepare atcounts which accord with the accounting records, comply with the accounting requirements of Section 396 of the Companies Att 2006 and with the methods and principles of the Statement of Recommended Practice-. Accounting and Reporting by Charities have not been met: or which, in my opinion, attention should be drawn In order to enable proper understandiTkg of the accounts to be reached. Signed: Mr S Kay FCCA ACA Dated......-. The Barker Partnership 44 Kirkgate Ripon North Yorkshire HG4 IPB
THE OMNIBUS SOCIETY (A COMPANY UMITED BY GUARANTEE) STATEMENT OF FINANaAL ACTiwllES FOR THE YEAR ENDED 31 DECEMBER 2022 Totsl Funds Total Fun 2022 2021 Income and Endowments from: Donations and legacles received Income from other trading activities Gift aid tax refunds Income from inve5tmersts 32,438 6,303 5,520 30 28,314 14,672 7,737 27 44,291 50,750 Total Income Expendlture on: Charltable activities 67,330 52,977 Total Expendlture 67.330 5Z,977 Net incomellexpenditure) (23,039) (2,2271 (Loss)Gain5 on Investment assets 117,6351 23,819 Net movement in funds (40,674) 21,592 Balances brought forward at l January 451,796 430,204 Balances carried fOard at 31 December 411,122 451,796 All of the al)ove amounts relate to unrestrlctsd fvnds
THE OMNIBUS soaE IA COMPANY LIMITED BY GUARANTEE) BALANCE SHEET AT 31 DECEMBER 2022 Totsl Funds Total Funds Z022 2021 Flxed Assets 139,156 139,156 176,791 176,791 Investments Currnnt Assets Debtors Stock Cash at bank and In hand 257.773 3.846 31.412 293.031 263,951 4,396 33,761 302.108 Llabillties: amounts fallln8 due withln one year 27,103 21,065 275,C(J5 N•t Currnnt Assets 271,966 Llablllties: amounts falllng due after one year Net Assets 411,121 451,796 Funds General reserves 411,122 451,796
THE OMNIBUS SOCI {A COMPANY LIMITED BY GUARANTEE) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022 Totsl Funds Total Funds 2022 2021 21.592 Surplusl(10ss) for the year Adjustments to cash flows from non-ca5h item5 Unrealised gains 140,674} 117,6351 123,8191 (23,039 (2.227) Workln8 capltal adjustments Decreasellincreasel in debtors Decreaselllncrease l in Stock Increasel{decreasel in creditors 6,178 550 16.0391 {262,3611 14,3961 118.9931 Net cash from operating actlvliies (22,350} (287,9771 (Sale) Acquisitions of investments 20,OC(J 190.000 12,3501 197.9771 Net cash flow Cash and equlvalents at l January 33,762 131,739 Cash and equivalents at 31 December 31,412 33,762
THE OMNIBUS soaETY- IA COMPAPIY UMITED BY GUARANTEE) BALANCE SHEEf AT 31 DECEMBER 2022 (CONTINVEDI Trusted Statement ulred nies Act 2006 In approving these accounts as trustees of the company we hereby wnfim) that: lal For the year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006, relating to small companies. Ibl The members have not required the company to obtain an audit of its accounts for the year in question in accordan with Settion 476 of the Companies Att 2CIJ6, and Ic) The trustees acknowledge their Sponsibl11t1es for complying wlth the requirements of the Act with respect to accounting records and the preparation of accounts. These accovnts are prepared in accordance with the special provisions of part 15 of the Companies Act 2C%)6 relating to small companies. These accounts were approved by the Board of Trustees, and signed on their behalf by CGill Treasurer Dated Registration number 3081365 The notes on pages 10 to 11 form an irstegral part of these Financial Statements.
THE OMNIBUS 50aETY- IA COMPANY UMITED BY GUARANTEE) NOTESTO THE FINANaAL sfATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 i. Accountlng Pollcles 1.1 Accoufitln8 conventlon The financial statements have been prepad under the historical cost basls, as modified by the revaluation of certain fixed assets measured at fair value. The accounts have been prepared in accordance with the Financial Reporting Standard 102 leffectNe January 2015), and the requirement5 of Accounting and Reporting by Charities: Ststement of Recommended Pradice appllcable to charit*s {effedive January 20191 IFRS SORP 20151 and the Companies Act 21. 1.2 Funds General funds represent the funds of the charfty that are not subject to any restrictlons regardin8 their use and are available for application on the general purposes of the Charlty. 1.3 Income Reco8nltl¢)n of In¢om• These are Included In the Statement of Flnancial Activltie5 ISOFAI when; the charity becomes entltled to the resources; the trustees are virtually certain that they wlll receNe the resources: and the monetary value can be measured with sufficient reliobillty. Incomlng resources wlth related empendltyre Where Incoming resources have related expendfture. the Incomlng resources and the related expenditure are reported gross in the SOF Donatlons and le8a¢les Donatlons and le8acles are only Included in the SOFA when the charlty has uncondltional entitlement to the resources. Tax reclalms on donatlons and 8lfts Incoming resources from tsx reclaims are included In the SOFA when the tax fUnd is paid. Income from Investments Interest entitlements a accounted for as they accrue. Tax ¢0¥erable on such Income Is recognised In the same accountlng year. 1.4 Expendltufe Expenditure is recognised on an accruals basis as alobility Is Incurred. Expendlture Includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relate5. io
THE OMNIBUS SOCIETY IA COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMElllS FOR THE YEAR ENDED 31 DECEMBER 2022 2. Fixed a$5et Investments Total Valuatlon At l January 2022 Sales Realised and unrealised gains At 31 December 2022 176,791 120,0001 117,6351 139.156 2022 2021 98,336 Hlstorical Cost as at ai December 85,684 3. Debtors Other debtors 2022 2021 257,773 263,951 Debtors include a loan of £250,C(i) to The Bus Archive, repayable in more than one vear 4. Liabllltles: amounts falling due within one year Accrued charge5 ond other creditors Membership fees in advance 2022 5.187 15.878 21,065 2021 7,623 19,480 27,103 5. General ReseNes Total Balance at l January 2022 Incoming resources Investments- unrealised gains Resource5 expended Balance at 310ecember 2022 451,796 44.291 117,6351 167,3301 411,122 6. Company lirnited by guarantee The Omnibus Society Limited is a company limited by guarantee and accordingly does not have a share capital. Every member of the company undertakes to contribute such amount as may be required not eXdIng £1 to the assets of the charitable company in the event of its being wound up while he or she is a member. or within one year after he or she ceases to be a member. li