THE OMNIBUS SOCIETY
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES’ REPORTAND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
COMPANY NUMBER 3081365 (ENGLAND &WALES)
CHARITY NUMBER: 1048887
CONTENT
| CONTENT | |
|---|---|
| Page | |
| Legal & administrative information | 2 |
| Trustees’ Report | 3-4 |
| Independent Examiner’s Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7-8 |
| Notes to the Financial Statements | 9-10 |
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THE OMNIBUS SOCIETY
(A COMPANY LIMITED BY GUARANTEE)
LEGAL AND ADMINISTRATIVE INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024
| Trustees | D Akrigg | |
|---|---|---|
| N W Eggleton | ||
| C Gill | (Died 13 February 2024) | |
| A P Gipson | (Resigned 27 September 2024) | |
| P W Kirk | ||
| G J Lusher | ||
| J H Peddle | ||
| A P Tyldsley | ||
| D C Grimmett | ||
| R C Rackley | (Appointed 27 September 2024) | |
| Secretary | M Yelton | |
| Company Number | 3081365 | |
| Charity Number | 1048887 | |
| Principal Office & | 100 Sandwell Street | |
| Registered Office | Walsall | |
| WS1 3EB | ||
| Reporting Accountant | Elizabeth Gallacher C.A. | |
| 28 Birchwood Drive | ||
| Paisley | ||
| PA2 9NE |
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THE OMNIBUS SOCIETY
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their report accounts for the year ended 31 December 2024.
Constitution and Objects
The organisation is a charitable company limited by guarantee, incorporated on 19 July 1995 and registered as a charity on 26 August 1995. The charity’s objects and regulations are governed by the memorandum and article of association. The object of the charity is to advance the education of the public in the history of road passenger transport.
Trustees’ Trustees and Principal Officers.
The Trustees of the charitable company are its trustees for the purpose of charity law and throughout the report are collectively referred to as the trustees. The trustees that served in the period are shown on page 2. New trustees are selected based on the skill they can provide in order to ensure proper governance of the company. Prospective trustees are interviewed and when appointed provided with appropriate induction,
Public benefit
The trustees have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular the trustees consider how activities will contribute to the aims and objectives they have set.
Reserve policy
The trustees have reviewed the charity’s requirements for reserves in light of the main risks to the organisation. The reserves are needed to meet the working capital requirements of the charity on an annual basis and the trustees are mindful of the need to keep the unrestricted reserves at a level which will meet these requirements. =
Summary of activities in the year
Activities in the year included more trips, lectures and meeting. The Omnibus Magazine, bulletins and journals continued to be published along with several books.
Summary of the financial performance
Total income rose from £46,906 to £115,224, due largely to a legacy of £52,447, and gains in the value of investments of £20,980. Expenses increased because of the conversion of a loan of £250,000 to the Bus Archive to a donation, and because half of the legacy of £52,447 was donated to the Bus Archive. The overall result is that a deficit of £221,518 was incurred compared with deficit of £5,588 last year. Excluding the exceptional loan conversion, the society made a surplus of £28,482.
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THE OMNIBUS SOCIETY
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEE’S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 (continued)
Trustees’ responsibilities
The trustees are responsible for preparing the Trustees’ 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 resources and application of resources, including the income &expenditure, of the charitable company for that period. In preparing these financial statements the trustees are required to:
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a. select suitable accounting policies and then-apply them consistently,
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b. observe the methods and principles in the Charities SORP,
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c. make judgements and estimates that are reasonable and prudent,
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d. state where applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and,
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e. prepare the financial statements on a going concern basis unless it is inappropriate to assume that the charitable company will continue in operation.
The trustees have overall responsibility for ensuring that the charitable company has appropriate systems of control, financial and otherwise. They are 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 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 Provisions
The report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (issued in January 2019) and in accordance with the special provisions for small companies in part 15 of the Companies Act 2006.
This report was approved by the trustees and signed on its behalf by:
Nigel Eggleton Chairman 26th September 2025
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THE OMNIBUS SOCIETY (A COMPANY LIMrrED BY GUARANfEE) INDEPENDENT EXAMINER?S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 I report on the accounts for The on1bS Socicty Limited (charity number 1048887) for the year ended 31 December 2024 which are set out on pages 6 to 10 Respective responsibilities of trllstees and ernIner The charity's tnteeS (who arc also directors of the company under company law} are responsible for the preparation of the accounts. The truste¢s consider that an audit is not required this ycar under SKtion 144 of the Charities Act 2011 and that an independent examiner is needed. Having satisfied myself that the eIlty is not subject to audit under Part 16 of the Companies Act 2006 and is eligible for independent examinatio it is my responsibility to- examine the aOunts und¢r s¢¢tioD 145 of the Charities Act 2011 b. to follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5)0)) of the 2011 ACL and to state whether particular matters have come to my attention Bssis of the independent examiner'$ report My examinthon was carried out in accordance with the General Directions given 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 unw8uaI items or disclosures in the accounts and seeking explanations from you &$ tnLStees considering such matters. The procedures undertaken do not provAde all the evidence that would be required in an audiL and consequently I do not express an audit opinion on the vi¢w given by the accounts. Independent examiner's Statement In connection with my examinatio no matter h&s come to my attention: which gives me reasonable cause to believe that in any mats1 res the requircmcnts: to ke proper accounting records (in accordance with Section 386 of the Companies Act 2006). and to prepare accounts which accord wlth accounting rewrd4 comply with th¢ accounting requirements of Section 396 of the Companies Act 21X)6 and with the methods and principles of the Sthtement of Recommended Practice: Accounting and RctM)rting by Charities have not been met: or b. which. in my opinion, attention should be drawn in order to enable proper understanding of the accounts to be reached. Elizabeth Ga1h¢r 28 Birchwood Driv¢ Patsley PA2 9NE 26th Sepi¢mbcr 2025 (71,(
THE OMNIBUS SOCIETY (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
| Income and Endowments from: Donations and Legacies received Income from other trading activities Gift aid tax refund Income from investments Total Income Expenditure on: Charitable activities Total Expenditure Net Income/(Expenditure) (Loss)/Gains on investment assets Net movement in funds Balances brought forward on 1 January Balances carried forward on 31 December |
|
|---|---|
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THE OMNIBUS SOCIETY (A COMPANY LIMITED BY GUARANTEE)
BALANCE SHEET AT 31 DECEMBER 2024
| Note Fixed Assets Investments 2 Current Assets Debtors 3 Stock Cash at bank and in hand Liabilities: amounts falling due within one year 4 Net Current Assets Liabilities: amounts falling due after one year Net Assets Funds General reserve |
Total Funds 2024 £ 130,136 130,136 5,726 3,242 65,600 74,568 20,688 53,880 - 184,016 184,016 |
Total Funds 2023 £ 109,156 |
|---|---|---|
| 109,156 | ||
| 256,818 3,500 52,876 |
||
| 313,194 16,816 |
||
| 296,378 | ||
| - | ||
| 405,534 | ||
| 405,534 |
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THE OMNIBUS SOCIETY
(A COMPANY LIMITED BY GUARANTEE)
BALANCE SHEET AT 31 DECEMBER 2024 (continued)
Trustees’ Statement required by the Companies Act 2006
In approving these accounts as trustees of the company we hereby confirm that:
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a. For the year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006, relating to small companies.
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b. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with Sectioit476 of the companies Act 2006, and
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c. The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts are prepared in accordance with the special provisions of part 15 of the Companies Act 2006 relating to small companies.
These accounts were approved by the Board of Trustees, and signed on their behalf by
Nigel Eggleton Chairman 26th September 2025
Registration number 3081365
The notes on pages 9 and 10 form an integral part of these Financial Statements
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THE OMNIBUS SOCIETY
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. Accounting Policies
- 1.1 Accounting conventions
The financial statements have been prepared under the historical cost basis, as modified by the revaluation of certain fixed assets measured as fair value. The accounts have been prepared in accordance with the Financial Reporting Standard 102 (effective January 2015), and thé requirements of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities (effective January 2019) (ERS SORP 2015) and the Companies Act 2006. 1.2 Funds
General funds represent the funds of the charity that are not subject to any restrictions regarding their use and are available for application on the general purpose of the charity.
- 1.3 Income
Recognition of income
These are included in the Statement of Financial Activities (SoFA) when; the charity becomes entitled to the resources; the trustees are virtually certain that they will receive the resources; and the monetary value can be measured with sufficient reliability.
Income resources with related expenditure
Where incoming resources have related expenditure, the incoming resources and the related expenditure are reported gross in the SoFA.
Donations and legacies
Donations and legacies are only included in the SoFA when the charity has unconditional entitlement to the resources.
Tax reclaims on donations and gifts
Incoming resources from tax reclaims are included in the SoFA when the tax refund is paid.
Income from investments
Interest entitlements are accounted for as they accrue. Tax recoverable on such income is recognised in the same accounting year.
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THE OMNIBUS SOCIETY (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
| 2. Fixed Asset Investments As at 1 January 2024 Purchases/(Sales) Increase / (Decrease) in valuation As at 31 December 2024 3.Debtors Other debtors Until 31 December 2024, debtors included a loan of £250,000 to The Bus Archive, repayable in more than one year. This was converted to a donation on that date and expensed against the general reserves 4. Liabilities: amounts falling due within one year Accrued charges and other creditors Membership fees in advance 5 General reserves Balance at 1 January Incoming resources Investments – unrealised gains/(losses) Resources expended Balance at 31 December |
2024 5,726 2024 4,624 16,064 20,688 2024 405,534 94,244 20,980 (336,742) 184,016 |
Total £ 109,156 - 20,980 |
|---|---|---|
| 130,136 | ||
| 2023 256,818 |
||
| 2023 - 16,816 |
||
| 16,816 | ||
| 2023 411,122 46,906 - (52,494) |
||
| 405,534 |
6. Company limited 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 exceeding £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.
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THE OMNIBUS SOCIETY (A COMPANY LIMITED BY GUARENTEE) SUMMARY STATEMENT OF FINANCIAL ACTIVITIES - YEAR TO 31 DECEMBER 2024
| Income Members' subscriptions & donations Photograph sales and royalties Book sales Other donations Gift Aid received from 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) General expenses Stationery, postage and printing Insurance internet &website costs London meetings Non-Council Travel and meeting costs Sundry expenses 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 Less non-revenue expenditure LTM museum Bus Archive Total non-revenue expenditure Add non-revenue income Legacies received Net Gain in investment value Total non-revenue income Total surplus/(deficit) for the year |
2024 2023 £ £ 30,483 35,862 4,656 3,807 669 767 165 - 4,718 6,267 1,106 203 41,797 46,906 18,895 16,263 25,434 15,265 2,450 - 258 346 2,217 1,524 584 750 1,489 1,561 999 2,930 - - 160 40 1,017 1,024 1,849 1,531 - - 518 510 55,870 41,744 (14,073) 5,162 - 7,500 280,872 3,250 280,872 10,750 52,447 - 20,980 - 73,427 - (221,518) (5,588) |
|---|---|
This page does not form part of the statutory accounts
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