ChaTity Regtstration No. 1059738 Company Registrdfjon No. 3289587 (England and Wales) EREWASH COMMUNITY TRANSPORT LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
EREWASH COMMUNITY TRANSPORT LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustses Mr Frank Phillips Chairrn8n Mrs Pamela Phillips Mr Roger Gree Mr Robert Rogerson Mr Maityn Coldicott Mr John Frudd Secretary Mrs TM Appleby Ms J Hrynezyszyn Charity number 1059738 Company number 3289587 Principal addrgss Unit1 Hallam Fields Road Ilkeslon Derbyshire DE74A2 Audltor Afford Bond Holdings Limited Enterprise House 97 Alderley Road Wilmslow Cheshire SK9 1PT Solicitors A¢tons 20 Regent Street Nottingham NG15BG
EREWASH COMMUNITY TRANSPORT LIMITED CONTENTS Page Trustees, report Statement of Trusteès. rèsponsibilities Independent auditorfs report Statement of finantyal activities Balance sheet 10-11 Notes to the financial statements 12-21
EREWASH COMMUNITY TRANSPORT LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2021 The TTUStees present their report and financial statements for the year ended 31 March 2021. The finanrial statements have been prepared in ac£ordance with the accounting policie5 set out in note 1 to the financial statements and comply with the company's tgoverning documentl, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practi applicable to ChareS preparing their acwunts in awordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 2019)" Objectives and activities The Charity aims to 'provide a non-profft making, commLJnity transport serwce for the benefii of the residents of Erewash and sounding areas in the interests of soryal welfare and for the preseN8tion of health of those in need, hardship and distress by reason of age, infimity, mentsl or physical ability with the object of improwng theiT conditi.on of life, Services may b& used by (x)mmuntty groups and indiwduals who meet our eligibilty criteria. and who are affiliated with us and have pre-booked in advance. Our services assist vulnerable children and adults to maintain independence and so improve life quality and increase dioices and assistwith social integration. SeNiee provision includes occa5ion81 social outings for registered members. withoirt profit Four types of Servi are currently providèd as dètsiled below.. Dial-a-Bus (for individuals to asS supermarketsltown ¢entresl. AsS to Health Heatthlmedical appointsnenl servi¢e in Derbyshlre areas promded th Ashboume Cotllmunity Transport on behalf of Derbyshire County Council. Group Transport Used by any group which benefits the ¢ommunity- Home to S¢hoolThraining Centre SeM¢es for children and aLtults with special educational needs. behavioural andlor leaminglphysil disabilities Publlc Benefit The Charity refers to the Charty Commissions general guidance on public benefft when reviewing rts airRs and objective5 and planning future actiwlies. Governing Do¢uments Trustee Recruitrnent We are a Registered Charity and Company Limited by Guarantee operating in accordance with current legislation (Companies Act'85 and Charity Commission) and governed by Constitution and Memorandum & Articles of Assoryation. Election of Trustees As required by the Articles of A55ocialion, newly eSected Tnjslees and one third of those rernaining must rets're annually by rotation. 2020 sees the retirement of Chairman Frank Philips and Trustees, Pamela Philips and Roger Rogerson. Vvhen 8ppoinling Trustees, the Board considers our qUireMents and any specialist sknlls ¢andidales may have, in awordance with currerit legislation determined by law. Candidates musl be nominated by existing parties wVEh the Board's agreement, in an 'ex-offiao' capacity Iwithout voting rights).
EREWASH COMMUNITY TRANSPORT LIMITED TRUSTEES, REPORT {INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Organlsatlonal Struetur•- Trustees musl be aged 18+ and the Board must consist of a minimum of 3 (with no maximum limV(l. Trustees are responsible for the Scheme's administration and hold meetings (Including Sub- committeè) regularly and as required to discuss dèvelopment of the Scherne. Two Managers employed by Trustaes èach having delegated authority to f8cilitste day to day operations. Trustee$ ensure a Risk Management System is used lo regularfy assess. idenbfy and control potential risk with fomial Trustee only meetings held as required. Trustees ensure a Risk Management system 15 implemented lo regularfy assess, identify and control potential risk., Trustee only meetings are held as required ItJlty recorded). The professional seNTrs of an outside organisation a empltsyed to ensure compliance wth Health & Safety and Employment Law. The professional services of an outside organis8b.on are employeil to ensure Complian with Heath & Safety and Employment Law. Trustee Inductton and Training is available to Ènsure TftJs18es undatstsnd their legal oblig8b.ons under Charity 1 Company Law,. Trustees are Èneouraged to attend induction so they are familiar with policie5, procedures and working practices. Group Structure The ChariVs wholty owned subsidiary company Dèrbyshire Communty Minibus Ltd has not yel recorded any actiwty. Close Working Relationships are established wfth.. Erewash Borough Council who ¢onlinLte to provide subsidy for local community groups., Dèrt>y5hire l Notlinghamshkre County Councils, Cornrnunity Transport Association UK. InternaVExtemal Factors The Dial-a-Bus service is entirely self-funded, but it is essential lo source funding for this Servi to continue and develop. The Trustees have paid dL¢e Tegard to guidance issued by the Charity Commission in decjding what activities the company should undertake. Charitablo Activitiès The prowsion of specialised transport senfices.
EREWASH COMMUNITY TRANSPORT LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED FOR THE YEAR ENDED 31 MARCH 2021 Financial review The Charity receives no outside fvnding other than that received frtsm Erewash Borough Council, passed on entirely to local groups by means of discount against transport costs. Investment Policy and Objectives We have the power to invest to generate fijnds for continuation and development Of semces. Reserves Policy We will aceumLJlate and hold SerVeS at such levels required to even out fLrture fluctuations in income and expendilufe whilst maintaining service pTovision. We are required by law to ensure suffiaent reserves are held Icashlassetsl lo be reali5ed. if necessary, lo covercosts involved in the eventlhe Schem8 kninds up,. Our accounts show we can cover all costs involved. Thè Trustttos has assèssed th& major risks to which th& company is exposed, and are satisfied that systems are in place lo mitigate exposure to the rnajor risks. Structure, governance and management The company is a company limvted by guarantee and govemed by its Memorandum and Artides of Associ8tion and rt's Constitub"on_. The company 1$ 8 regi$lored charity and acts entiraly as a non profft making organisation. The cornpany registration number is 3289587. The ¢harity registration numbèr is 1059738. Tru¥tees and their interests The Tnjstees. who are also the directors forthe purpose of company law, and who served during the year and up to the date of signature of the finanual stslements were.. Name ofTwslèè Mr Frank Phillips Chaimian Mrs Pamela Phillips Mrs Kathleen Trueman (deceased October 20201 Mr Roger Green Mr Robert Rogetson Mr Martyn Coldiwtt Mr John Frudd Senior Staff members delegated day-t041ay management Mrs Tina Appleby (Finance) Company Sectary Ms Jackie Hrynczyszyn IPersonnell Company Secretary Elected Representalive Erewash Borough Counal- Elected Representativ&. Counallor Terence Holbrook None of the Trvstees has any beneffcial interest in the company. All ofthe Trustees are members ofthe company and guarantoe lo conthbute £1 in the event of a wnding up.
EREWASH COMMUNITY TRANSPORT LIMITED TRUSTEES, REPORT IINCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Trade Credttors The ¢J)mpany's current policy conceming the paymènt of trade creditors is to follow the CBI'S Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1 DUI. The ¢ompany's ¢urrenl polioy conceming the payment oftrade Creditors is to.. settle the tems of payment with suppliers when agreeing the ternis of each transaction-, ensure that suppliers are made aware of the terms of payment by indusion of U]e relevant temis in contracts., and pay in accgrdance with Ihe company's contractual and other legal obligations. Trade creditors of the company al the year end were equivalent to 75 day's12020.. 14 day's) purchases. based on the aveiage daily amount invoiced by suppliers during tt)e year. Auditor Auditors resolution will be proposed at the Annual General Meeting that Afford Bond is re-appointed as audrtors to the thartty for the ensuing year. The Trustees. report W&8 approved by the Board of TTUStees. rsTM by By tsr(ler of the Trustees Dated. .a.s... .
EREWASH COMMUNITY TRANSPORT LIMITED STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2021 The Trustees, who are also the directors of Erewash Comrnunty Transport Limited ft)r the purpose of cornpany law. are responsible for preparing the Trustees. Report and the finanoal ststements in a¢cordanee with applicsble law and Untted Kingdom Accounting Stsndards Iunrfced Kingdom Generally Accepted Accounting Practice). Company Law qUireS the Trustees to prepaTe financial statements for each financial yearwhich give a true and fair view tsf the stale of affairs of the company and of the incoming resources and application of resour5, induding the income and expenditure, of the charitable company for that year. In preparing these financial stslements. the Truslees are requireil to.. select suitable accounting poliaes and then appty them wnsistenUy', - observe the methods and prinryples in the Charit5&s SORP., make judgements and estimates that are reasonablè and pnjdentr, and - prepare thg finanryal stslements on the going nCern basis unless f( is inappropriate lo pre5urne that the cy)mpany 11 continue in operation. The Trustees are responsible for keeping adequate accounting records that disdose wth reasonable accuracy al any time the financial position of the company and enable them lo ensure that the financial slalemen15 comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularthes.
EREWASH COMMUNITY TRANSPORT LIMITED INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF EREWASH COMMUNITY TRANSPORT LIMITED Opinion We have audited the finanaal statements of Erewash Community Transport Limited (the 'company'l for the year èndèd 31 March 2021 which comprise the ststement of financial activitie5, the balane* sheet and the notes to the financi81 statements, including significant a¢¢ounting policies. The financial reporting framework that has been applie(S in their preparation is applicable law and United Kingdom Accounting Standards, induding FRS 102 The Financial Reporbng Stsndaid applicable in the UK and Republic of Ireland (Uniied Kin9dom Generally ACpIed Accounting Pral¢e1. In our opinion. th& finan(xal slalemenls: glve a tnje and fair wew of the slate of the charrtable Company's affalrs as at 31 Mar¢h 2021 and ol its incoming resourtss and application of resources, for the year then ended.. have been properfy prepared in accordance with United Kingdom Generally Apted Accounting Practice.. and have been Prepared in accordance with the requirements of the Companies Acl 2006. Basis ft)r opinion We conducted our audit in a¢cordan¢e wth Inlemational Standards on Auditing IUK) IISAS IUIQ) and applicablg law. Our rèsponsibilitiès under th05e standards are further described in the Audilorfs respon5ibililies for the audit of the financAal statements section of our report. We are independent of the company in accordance with the ethical requirernents that are relevantto our audit of the financial statements in the UK, induding the FRC'S Ethical Standard, and we have fijlfilled our other ethi¢al responsibilities in accordance wsth these requirements. We believe that the audit evidence we have obtained is sufficient and approprrale lo provide 8 basis for our opinion. Conclusions ralating to going conc#m In auditing the financial slalements, we have concluded that the Trustees, use of the 90ing ry)ncern basis of accounting in the preparation of the finanaa5 statements is appropriate. Based on the work we have perfomeLI, we have not iLlenlffieLI any material uncertainties lating lo events or condÈtions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least tsvelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respectto going concem are described in the relevant sections of this report. Other Infomiation The other information comprisès thé infomation induded in the 8nnual TÈPOrt other than thè finarrial statements and ourauditorfs report thereon. The Trustees are responsible forthe other infomiation contained within the annual report. Our opinion on the finanaal stslements does not Cover the other infomialion and we do not express any frjrm of assurancè ¢on¢lusion thereon. Our responsibilty is lo lead the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the Course of the audit, or othetwise appears lo be materially misstsled. If we identify such material inconsistencies or apparent material misstatements, we are required to délÉmine whether thi5 give5 rise to 8 material misststemenl in the finanaal statements themsalvss. If, b8$9d on the work we have performed. we conclLsde that there is a material misstatement of this other information, wè are iequired to report that fact. We have nothing to r¢port in this regard.
EREWASH COMMUNITY TRANSPORT LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF EREWASH COMMUNITYTRANSPORT LIMITED Mattèrs on which we are required to report by ¥xcepdon We have nothing lo report in respect of the fr)IlovMng matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us lo report to you rf, in our opinion.. th8 information given in the financtal statements is inconsistent in any material respectwith the Trustees, report,. or suffiaent accounting records have not been kept.. or the financial slalemenls are not in agreement with the accounting record5', or we have not received all the information and expl8nab.ons WÈ require for our audit. Responsibilities of Trustees As explained more fully in the ststement of Tnjstees. responsibilities, the Trustees. who are also th8 directors of the company forthe purpose of company law. are responsible for the preparation of the financial statements and foi being satisfied that they give 8 true and fair view, and ftrr such intemal contrtsl as the Trustees determine is necessary to enable the preparation of financial statetpenls that a free from matèrial misstatement, whetherdue lo fraud or error. In preparing the financial st8tements, the Trustees are responsible for assessing the company's ability to continue as going conrn, disclosing, as applicable, matters related to going con¢em and using the going concem basis of accounting unless the Trustees either intend to liquidate the charitable corllpany 01 to cease operations, or have no realistic alt&mativÈ bLrt to do so. Auditorfs responsibilities for the audit of the financial $tstsments We have been appointed as audiior under section 144 of the Charities Act 2011 and report in ac¢ordants with the Act and relevant regulations made or having effect thereunder. Our objectwes are to obtain reasonable 8ssur8n¢e about whether the finanual statements as a whole are free from material misstatement, whether due to fraud 01 eTlQI, and lo issu& an auditor's report that indudes our opinion. Reasonable assuran 15 a high level of assuraneé bLrt is not a guarantee that an audi* conducted in accordance with ISAS {UK) will always detect a material misstatement when it exists. Misslalemenls can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to in11uence the economic decisions of Ltsers taken on the basis of these finanaal statements. Irregularities. induding fraud, are instsn¢es of non-¢omplian¢e wth laws and regulations. We design procedures in line with our responsibilities, outlined above, lo detect material misstatements in respect of irregularities, including fraud. The exttrnl l() which our procèdurès are capable of detecting irregularities, including fraud, is detailed below. A further description of our responsibilitie5 is avai5able on the Finanaal Reporting Council's website aL' https.'Ilwww.froorg.ukJauditorsresponsibilities. This description fomis part of our audrtols report.
EREWASH COMMUNITY TRANSPORT LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF EREWASH COMMUNITY TRANSPORT LIMITED Uso of our report This Teport is made solely lo the Charity's trustees, as a body, in accordanrE with part 4 of the Charities IAc¢ounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's tnjslees those matter5 we are required lo stste to them in an auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume Tesponsibilty lo anyone olherthan the charity and the charity's trustees as a body, for our audit work. for this report, or for the opinions we have formed. ALJ£J U,i&-L Afford Bond Holdings Limited Chartered Accountsnts ststutory Auditor Enterprise House 97 Aldertey Road Wilmslow Cheshire SK9 1PT Afford Bond Holdings Limited ss eligible frjr appointrnent as audrtor of the eompany by virtue of its eligibilty for appointment as auditor of a company under of section 1212 of the Companies Aci 2006.
EREWASH COMMUNITY TRANSPORT LIMITED CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021 Unre$tri¢ted Restrlcted funds nds 2021 2021 Total Unrestricted funds 2020 Restsicled funds 2020 Total 2021 2020 Notes Income and endowments from: Voluntsry income Chaiitable activlts.es Investments Other income 146,437 617,936 26,455 9,450 6,105 20.545 152.542 638,481 28,455 9.450 115 34,023 115 723.610 18,327 689,587 18,327 Totsl Ineome 802,278 26,650 828.928 707,914 34,138 742,052 EX enditure on-. Charitable activitie5 4WJ.042 490,042 603,812 603,812 Other 10 3,447 3,447 136 136 Total resources expended 493.489 493,489 603,948 603.948 Net income for the yearl Net movemènt in funds 308.789 26,650 335,439 103,966 34.138 138,104 Fund balances a11 April 2020 2,011,330 2,011,330 1,873,224 1,873,224 Fund balances at 31 March 2021 2,320,119 26.650 2.346,769 1,977,190 34.138 2.011,328 The statement of financial acb"vibes indudÈs all gains and losses recognised in the year. All inrne and expendrture derNe from continuing activities. Thè statement of financial activities also complies withthe reqvirernentsforan income and expenditure aco)untunder the Companies Act 2006.
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EREWASH COMMUNITY TRANSPORT LIMITED CONSOLIDATED AND CHARITY BALANCE SHEET (CONTINUED) AS AT31 MARCH 2021 The cornpany is entitled to the exemption from the audit requirament contained in section 477 ofthe Companies A 2008, for the year ended 31 March 2021, athough an audit has been carried out under section 144 of the Charities A¢t2011. Th8 diiactors acknowladge their rèsponsibilth&s for ensuring that the charty keeps accounting record5 which comply with section 386 of the Act and for preparing financial statements which give a true and fairview of the state of 8ffaiis of the company as at the end of the financial yearand of its incoming resources and application of Te50urces, including fis income and expendV£ure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to finanaal statements, so far as applicable lo the company. The members have not required the company to obtsin an audit of tts finan(ial ststoments under the requirements of the Companies Act 2006, for the year in question in accordance with section 476. These financial statements have been prepared in a¢[dance with the provisions applicable to companies subject to thè small wmpanies regime. The financia atemfynts wère approved by the Truste&s on &5 Mr Fra Trustee haiman Company Regt5tration No. 3289587 11
EREWASH COMMUNITY TRANSPORT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Ac¢ountlng policies Charity inforniation Erewash Community Transport Limited is a private company limtied by guarantee incorporated in England and Vvales. The registered office is . 1.1 Accounting ¢onvention The finanaal statements have been prepared in arKoid8n¢e wrth the company's Igoveming documentl, the Companies Act 2008 and 'Accounting and Reporting by Charities.. Slalèmènt of Recommended Practice applicable to charities preparing their accounts in accordan with the Finantyal Rèporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective 1 January 20191". The company is a Public Benefit Entity as defined by FRS 102. The company has taken advantsge of the Provisions in the SORP for charthes apptying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the fijnctional currency of the company. Monetary amounts in these finanaal statements are rounded to the n&aresl £. The financial slatsments have bèen prepared under the historical cost convention, modtfied lo include the revaluation of freehold properties and lo indude investment propertyes and certain finanal instruments at fair value. The pFinapal accounting poliaes adopted are sel out below. 1.2 Going eoneern Althe timè of approving the finanaal statements. the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the finan¢ial statemènts. 1.3 Charifable funds Unrestricted funds are available for use at the discretion of the Trustees in furtherence of Ihair charitable objective5. Restricted lunds are subject to speliftc conditions by donors as to how they may be used. The purposes and usès of the restricted fvnds are set out in the notes to the financial statements. Endowment funds are subject to specnlc conditions by donors that the capttal must be maintsined by the company. IA Income Income 15 recognised when the company is legalty entiJad to it after any performance conditions have been mèt, the amounts can be measured reliably, and it is probable that income will be reived. Cash donations are cOgnised on re¢eipl. Other donations are re¢ognised On the company has been notffied of the donation, unless performance cOndOn$ iéquirè deferral of the amount Income tax recoverable in relation to donations received under Gift Aid or deeds of ¢ovenanl is recognised at the time of the donation. Legacie5 ale recogni5ed on ieceipl or otherwse if the company has been notified of an impending distribution, the amount is known, and receipl is expected. 11 the afflounl is not known, the legacy is treated as a contingent asset. 12-
EREWASH COMMUNITY TRANSPORT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Aecounting policles 1.5 Tangible fixed assets Tangible fixed assets a initially measurèd at cost and subsequentty measured at st or v8lualion, nel of depreryation and any impairmènt losses. Depreciation is reco9nised so as to write off the cost or Wdluation of assets less their iesidual values over their useful lives on the following bases= Land & Buildings Office Equsprnent Computers Motor vehides IOQA rÈductng balance 33.30kn stiaighl line 20Oh redudng balance The gain or loss arislng on the disposal of an asset is detem)ined as the difference btheen the sale proceeds and the carrying value of th& asset, and is recognised in nel in¢omeJlexpenditure) for tha yeaf. 1.6 Fixed asset investsnents Fixed asset investments are initially measur&d al transaction price excluding transaction costs, and are subseqyently measured at fair value at eath reporting date. Changès in fair value are reeognised in net incomellexpenditurel for the year. Transaction costs are expensed as in¢urred. A subsidiary is an entity controlled by the company. Control is the power to govem the fin8n¢ial and operating po5i¢ies of the enlty $0 as tr> obtain beneffits from its actiwties. 1.7 Impairment of fixed assets At each reIrting end dale, the company reviews the carrying arnounls of ils tangible assets lo deteNin& whetherthere is any indiGation thatthosè assets have suffered an impaimient loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment10ss (If any). 1.8 Cash and cash equivalents Cash and Igsh eqtjivalents include cash in hand, deposits held at call with banks, oth8r short-tèrm liquid investrnents wtth original maturtbes of three months or less, and bank overdrafts. Bank ¢)verdrafts are shown within borrowings in current liabilityes. 1.9 Financial instruments The company has elected to apply the prowsions of Section 11 '8asic Financial Instruments, and Section 12 'Other Financial Instruments Issue5, of FRS 102 to all of rt5 fin8nual instnjments. Finanaal instruments arè recognised in the companvs balance sheet when the cornpany beo)mes paty to the nlractual provisions of the instrument. FinanThal assets and liabilities are offset, with the nel amounts presented in the fin8nci81 statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention lo settle on a nèt basis or to realise the asset and settle the liabilty simultaneously. Basic financial assets Basicfinancial assets. which Include debtors and 8nd bank balances, are Initially measured attransa¢tion price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrdngernent constitutes a finanung transaction, where the transaction is measured at the present value of the future receipts di$eounl8d at a marf(èt rale of interest. Financial assets classified as receivable within one year are not amortised. 13-
EREWASH COMMUNITY TRANSPORT LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Accounting poli¢ig$ Basic financial liabilitffes Basic finanGial liabilities, including creditors and bank loans are initially cognISed at transaction pri un5ess the arrangement ¢onsb"luies a financing transaction, where the debt instrument is measured at the present value of the future payments discounted al a market rate of interest. Financial liabilities classified as payable thin one year are not amortised. Debt instruments are subsequently carried at amortised cosL using the effeclive interest fale method. Trade ereditofs are obligations to pay for goods OT serVIS thal have been acquired in the ordinary course of opèrations from suppliers. Amounts payable are classified as cuirent liabil&$ if paymènt is due within one year or less. If not, they arè prèsented as non-current liabilities. Trade creditors are recognised inal al Ir3nsaetion price and subsequenlty measured al amortised cost using the effectnie interest method. Derecognition of financial liabilittes Financi81 liabilitiès aré dÈrÈcognised when the companls contractual obligations expire or are discharged or cancelled. 1.10 Employee benefits The cosl of any unused holiday entitlement is regnIsed in the period in which the employee's semces a received. Termination benefts are recognised immediately as an èxpense when the company is demonstrably comrnitied to terminate the employmenl of an employee or lo provide termination benefits. 1.11 Retirement beneffts Payments to defined contribution reb"rement benefit schemes are tharged as an expense as they fall dtse. Critical accounting estimatss and judgements In the application of the company's accounting policies, the Trustees a required to make judgements, eslimalès and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other SoUrs. The estimates and assocjated assumptions ale basèd on historical experience and otherfactors Ihat a Considered to be relevant. Actual results may differ from these estimates. The estimates and undortying assumptions are reviewed on an ongoing basis. Revisions to accLsunting estimates are recognised in the period in which the estimate is rewsed where the rewsion affeds only that period. or in the period of the revision and future periods where the ievision affects both current and fvlure riods. Voluntary Income Unrestricted Restricted funds funds Totsl Reslrtcted fvnds 2021 2021 2021 2020 Donali(Trns and gifts Grant5 received 6,105 8,105 146,437 115 146.437 146,437 6.105 152,542 115 14-
EREWASH COMMUNITY TRANSPORT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Charhable activities Transport Transport Sèrvicas Services 2021 2020 Contract transport Group transport Dial a bus Local govemmtrnt gr8nts and gifts Department of transport 616,260 1,676 602,097 69,116 16.277 19,191 16,929 4,594 15,951 638,481 723,610 Analysis by fund Unrestricted funds Restricted fvnds 617,936 20,545 689,587 34,023 638,481 723,610 Invesbnènts Unrestrlcted Unrestricted funds funds 2021 2020 Income from unlisted investrnenls Investment incx)me Rent receivable 15,000 7,455 6.000 11,327 7,000 28,455 18,327 Other income Unrèstricted funds Total 2021 2020 Semces to Liwes 9.450 15-
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EREWASH COMMUNITY TRANSPORT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Truytees None of the Trustees lor any persons connected with them) reiVed any remuneration or beneffts from tha company during the year. Employees The average monthly number of employèes during the year was: 2021 Number 2020 Number Offi(* Drivers and escorts 36 41 Total 39 45 Employment costs 2021 2020 Wages and $8laries Social securty costs Other pension costs 76,746 243,920 10,027 366,547 15.616 10,035 330,693 392,198 There were no employees whose annual remuneratlon was £60,000 or more. 10 Other Unrestricted Unrestricted funds funds 2021 2020 Net loss on disposal of tangible fixed assets 3,447 136 3,447 136 17-
11 Tanyiblè fix8d assets Land & uildings Office Equipment Computersmotor vehlcl8s Totsl Cost At 1 April 2020 Additions Disposals 178,950 7,551 29.006 690,849 79.36S (25,0501 9C6.356 79,366 {25,0501 At 31 March 2021 178,950 7,551 29,006 745,165 960,672 Depreciation and impaimièni Al l April 2020 Depreciation charged in the ytsar Eliminated in respect of disposals 16.721 930 5,436 211 29.lJ)6 568,074 25,119 121,253} 619,237 26,260 121,253) At 31 March 2021 17.651 5,647 29,006 571.940 e24.244 Carrying amount At 31 March 2021 161,299 1,904 173,225 336,428 At 31 March 2020 162,229 2,115 122,775 287,119 12 Fixed asset investments Group Unlistsd Other investments Invesknents Total Cost or valuation Al 1 April 2020 & 31 March 2021 80,000 80,000 Carying amount At 31 arch 2021 80,(100 80.000 At 31 March 2020 80,000 80,000 18-
EREWASH COMMUNITY TRANSPORT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 12 Fixed asset investments (continued) Cbarity Unlisted Other investments investments Total Cost OT valuation At 1 April 2020 & 31 March 2021 80,000 100 80.100 Carying amount At 31 March 2021 80.000 100 80.100 At 31 March 2020 80,000 100 80.100 2021 2020 Other investments comprise.. Notes Investments in subgdiaries 19 100 100 19-
EREWASH COMMUNITY TRANSPORT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 13 Debtors 2021 2020 Amounts falllng du8 wlthln one yèar: Trade debtors Amounts owed by subsidiary undertaknngs Oiher debtors Piepayments and accnjed income 2,856 149,985 132,889 80,723 8,414 149,954 159,368 82,166 366,453 399,902 14 Creditors: amounts falling due within one year 2021 2020 Other taxation and $0¢01 sewrfty Trade creditors Other creditors Accruals and deferred incom& 3.803 100,632 737 3.950 4,1W2 8,388 3.950 109,122 17,314 15 Analysls of rtèt o$$ets betsveen fund8 Unrestricted Restricted funds fvnds 2021 2021 Totsl Unrestricted funds 2020 Restrided funds 2020 Totsl 2021 2020 Fund balances at 31 March 2021 are represented by.. Tangible assets Investments Current asSeIllabIlf(le$} 336,428 80,1 336,428 80,100 287,119 80,100 287,119 80.100 1,930,241 1,930,241 1.644.109 1,644,109 2,346,769 2,346,769 2,011,328 2,011,328 16 Flnanclal ¢ommitsnents, guarantee$ and contingent liabilities The totsl finandal comm¢trnents ofthe Company were £10.851 12020". £3.500). 17 Trustee's remuneration and exponses Trustees ¢1Ved ieimbursernent for trdvel costs for attending meetings which amounle(I to £Nil (2020.. £nill. -20-
EREWASH COMMUNITY TRANSPORT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 IVIARCH 2021 18 Related party tran$a¢tion$ There were no disclosable related paty transactions during the year {2020- none). 19 Subsidiaries Details of the company's subsidiaries at 31 March 2021 are as follows.. Name of undertaking Registered Nature of buslness Class of °A Held $hares held Dlrect Indlrèet Derbyshire Community Minibus Limited UK Dormant ordinary 100.00 21