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← Erewash Community Transport Limited

2025-03-31-accounts

Charity registration number 1059738 (England and Wales) Company registration number 3289587

EREWASH COMMUNITY TRANSPORT LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

EREWASH COMMUNITY TRANSPORT LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr Frank Phillips, Chairman
Mrs Pamela Phillips
Mr Roger Green
Mr Martyn Coldicott
Mr John Frudd
Secretary Mrs TM Appleby
Ms J Hrynczyszyn
Erewash Borough Council elected representative
Cllr. Linda Burns (Jun 23-24)
Charity number 1059738
Company number 3289587
Principal address Unit 1
Hallam Fields Road
Ilkeston
Derbyshire
DE7 4AZ
Independent examiner Peter O'malley
Afford Bond Holdings Limited
Enterprise House
97 Alderley Road
Wilmslow
Cheshire
SK9 1PT
Solicitors Actons
20 Regent Street
Nottingham
NG1 5BG

EREWASH COMMUNITY TRANSPORT LIMITED

CONTENTS

Page
Trustees' report 1 - 4
Independent examiner's report 5
Statement of financial activities 6
Balance sheet 7
Notes to the financial statements 8 - 18

EREWASH COMMUNITY TRANSPORT LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025

The Trustees present their annual report and financial statements for the year ended 31 March 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the company's governing documents, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

The Charity aims to 'provide a non-profit making, community transport service for the benefit of the residents of Erewash and surrounding areas in the interests of social welfare and for the preservation of health of those in need, hardship and distress by reason of age, infirmity, mental or physical ability with the object of improving their condition of life'

Services may be used by community groups/individuals meeting our eligibility criteria and who are affiliated with us and have pre-booked in advance. Services assist vulnerable children and adults to maintain independence and provide improved life quality, increase choice and assist with social integration.

Currently three types of service are provided for those eligible:

Dial-a-Bus (door to town shopping) Group Transport (community and eligible groups) Contract work (home to school/adult care centre transport)

Public Benefit

The Charity refers to the Charity Commissions general guidance on public benefit when reviewing its aims and objectives and planning future activities.

Governing Documents-Trustee Recruitment

Erewash Community Transport Ltd (ECTL) is a Registered Charity and Company Limited by Guarantee operating in accordance with current legislation (Companies Act ‘85 and Charity Commission) and by its Constitution and Mem. & Articles of Association.

Election of Trustees

As required by the Articles of Association, newly elected Trustees and one third of those remaining must retire annually by rotation. 2024 sees the retirement and reappointment of Martyn Coldicott.

When appointing Trustees, the Board considers our requirements and any specialist skills candidates may have, in accordance with current legislation determined by law. Candidates must be nominated by existing parties with the Board's agreement, in an 'ex-officio' capacity (without voting rights).

Organisational Structure

Trustees must be aged 18+ and the Board must consist of a minimum of 3 (with no maximum limit). Trustees are responsible for the Scheme’s administration and hold meetings (including Sub-committee) regularly and as required to discuss development of the Scheme. Two Managers employed by Trustees each having delegated authority to facilitate day to day operations.

Risk Management

Trustees ensure a Risk Management system is used to regularly assess, identify and control potential risk with formal Trustee only meetings held as required. The professional services of an outside organisation are employed to ensure compliance with Health & Safety and Employment Law.

Trustee Induction and Training is available to ensure Trustees understand their legal obligations under Charity / Company Law; Trustees are encouraged to attend induction training so they are familiar with policies, procedures and working practices.

EREWASH COMMUNITY TRANSPORT LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Working relationships

Working relationships are established with:

Nottinghamshire and Derbyshire County Council, on whose behalf services are provided. Nottingham County Council for funding provision

Erewash Borough Council for the final year (2024) of their group subsidy provision

Community Transport Association UK for advice and support and provision of MiDAS Training materials via annual affiliation

Wendleberry Marketing for ongoing provision of developmental and marketing services

Internal/External Factors

The entirely self-funded Dial-a-Bus service continues to operate in a reduced capacity.

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the company should undertake.

Charitable Activities

The provision of specialised transport services.

Financial review

The charity receives no external funding other than from Nottinghamshire County Council for the payment of Annual CTA Membership fee and one-off funding for the provision of development and marketing.

Investment Policy and Objectives We have the power to invest to generate funds for continuation and development of services.

Reserves Policy

We will accumulate and hold reserves at such levels required to even out future fluctuations in income and expenditure whilst maintaining service provision. We are required by law to ensure sufficient reserves are held (cash/assets) to be realised if necessary to cover costs involved in the event the Scheme ‘winds up’. Our accounts show we can cover all costs involved.

The Trustees has assessed the major risks to which the company is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The company is a company limited by guarantee and governed by its Memorandum and Articles of Association and its Constitution. The company is a registered charity and acts entirely as a non profit making organisation. The company registration number is 3289587. The charity registration number is 1059738.

Trustees and their interests

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Name of Trustee

Mr Frank Phillips, Chairman Mrs Pamela Phillips Mr Roger Green Mr Martyn Coldicott Mr John Frudd

EREWASH COMMUNITY TRANSPORT LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Senior Staff members delegated day-to-day management

Mrs Tina Appleby (Finance) Company Secretary Ms Jackie Hrynczyszyn (Personnel) Company Secretary

Elected Representative

Elected Representative of Erewash Borough Council for the period Jun 23-24 is Cllr. Linda Burns.

None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

Trade Creditors

The company's current policy concerning the payment 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 1DU).

The company's current policy concerning the payment of trade creditors is to:

Trade creditors of the company at the year end were equivalent to 22 days (2024: 4 days) purchases, based on the average daily amount invoiced by suppliers during the year.

EREWASH COMMUNITY TRANSPORT LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Review and Future Plans 2025/26 Frank Phillips, Chairman

As always, I begin by thanking our staff for their hard work over the past year; our continued success and development is due to their diligence and continued dedication to services and passengers.

This year we were again fortunate to receive funding from Nottinghamshire County Council’s Innovation and Sustainability Fund for the further provision of Marketing and Development services, which are provided by Wendy Turland, from Wendleberry Marketing.

Since utilising her expertise, there is no doubt that Wendy’s marketing and development skills, have targeted many new eligible groups, which resulted in new services being provided and this year being our busiest on record since we began operating in 1984!

Our management services for Community Transport Swadlincote Ltd (CTSL) continues to work well and it is gratifying to note that, although we live in uncertain times where essential funding for services for vulnerable and older people is being cut or withdrawn and many CT and community groups are closing or struggling to continue, CTSL and ECTL both continue to flourish and grow as independent, successful organisations.

Management services for both schemes are provided in person, on site or remotely; this method of management provision generates income for both schemes and works exceptionally well due to the shared practices and procedures and, the level of staff experience utilised for each organisation. My grateful thanks go to ECTL Comanagers Tina Appleby and Jackie Hrynczyszyn, Office Administrator, Linda Castle, Snr Driver Trainer Darren Reynolds and Driver Trainer Jayne Plunkett.

Early 2024 saw the introduction by Derbyshire County Council of new mandatory measures and training requirements relating to safeguarding procedures; there is doubt about the benefits these measures will provide for passenger safety and welfare, however consideration must be given to the potential financial impact due to the associated cost and time implications.

We are proud of our ongoing commitment to MiDAS Training which is provided for all staff, in addition to our own (more CT focussed) training, using our qualified staff; Snr Driver Trainer, Sean (Darren) Reynolds and Driver Trainer, Jayne Plunkett (whom we are also very proud of), between them, Sean and Jayne have amassed over forty years of hands-on CT experience.

Future plans include further development of our current services for eligible groups who can benefit from our transport services and the provision of new replacement vehicles, planned for 2025. I look forward to another successful year of operation for us all at Erewash Community Transport Ltd.

The Trustees' report was approved by the Board of Trustees.

Frank PHILLIPS

Mr Frank Phillips, Chairman

By order of the Trustees

Dated: 2 December 2025

EREWASH COMMUNITY TRANSPORT LIMITED

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF EREWASH COMMUNITY TRANSPORT LIMITED

I report to the Trustees on my examination of the financial statements of Erewash Community Transport Limited (the company) for the year ended 31 March 2025.

Responsibilities and basis of report

As the Trustees of the company (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.

Having satisfied myself that the financial statements of the company are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the company’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

Since the company’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Peter O'malley

Peter O'malley FCA Afford Bond Holdings Limited

Enterprise House 97 Alderley Road Wilmslow Cheshire SK9 1PT 03 Dec 2025 Date: ............................

EREWASH COMMUNITY TRANSPORT LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted
Restricted
funds
funds
2025
2025
Notes
£
£
Income and endowments from:
Donations and legacies
3
500
-
Charitable activities
4
701,939
27,712
Investments
5
106,581
-
Other income
6
10,040
-
Total income
819,060
27,712
Expenditure on:
Charitable activities
7
746,705
35,915
Other expenditure
11
1,415
-
Total expenditure
748,120
35,915
Net gains/(losses) on
investments
12
512,964
-
Net income/(expenditure) and
movement in funds
583,904
(8,203)
Reconciliation of funds:
Fund balances at 1 April 2024
3,081,249
8,203
Fund balances at 31 March
2025
3,665,153
-		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
500
-
50
729,651
778,196
8,153
106,581
116,806
-
10,040
13,020
-
846,772
908,022
8,203
782,620
703,102
-
1,415
1,629
-
784,035
704,731
-
512,964
-
-
575,701
203,291
8,203
3,089,452
2,877,958
-
3,665,153
3,081,249
8,203		 Total
2024
£
50
786,349
116,806
13,020
916,225
703,102
1,629
704,731
-
211,494
2,877,958
3,089,452

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

EREWASH COMMUNITY TRANSPORT LIMITED

BALANCE SHEET

AS AT 31 MARCH 2025

Notes
Fixed assets
Tangible assets
14
Investments
15
Current assets
Debtors
16
Cash at bank and in hand
Creditors: amounts falling due within
one year
17
Net current assets
Total assets less current liabilities
The funds of the company
Restricted income funds
19
Unrestricted funds
20		 2025
£
£
496,854
-
496,854
47,344
3,150,985
3,198,329
(30,030)
3,168,299
3,665,153
-
3,665,153
3,665,153		 2024
£
£
571,909
80,000
651,909
120,517
2,366,043
2,486,560
(49,017)
2,437,543
3,089,452
8,203
3,081,249
3,089,452		 2024
£
£
571,909
80,000
651,909
120,517
2,366,043
2,486,560
(49,017)
2,437,543
3,089,452
8,203
3,081,249
3,089,452
651,909
2,437,543
3,089,452
8,203
3,081,249
3,089,452

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2025.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 2 December 2025

Frank PHILLIPS

Mr Frank Phillips, Chairman

By order of the Trustees

Company registration number 3289587 (England and Wales)

EREWASH COMMUNITY TRANSPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

Charity information

Erewash Community Transport Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Unit 1, Hallam Fields Road, Ilkeston, Derbyshire DE7 4AZ .

1.1 Accounting convention

The financial statements have been prepared in accordance with the company's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)". The company is a Public Benefit Entity as defined by FRS 102.

The company has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial 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 financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the company.

1.4 Income

Income is recognised when the company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the company has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

EREWASH COMMUNITY TRANSPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.5 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land & Buildings Nil Office Equipment 10% reducing balance Computers 33.3% straight line Motor vehicles 20% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.6 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.7 Impairment of fixed assets

At each reporting end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

EREWASH COMMUNITY TRANSPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the company’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

EREWASH COMMUNITY TRANSPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

3 Voluntary income

Unrestricted Restricted
funds funds
2025 2024
£ £
Donations and gifts - 50
Other 500 -

4 Income from charitable activities

Unrestricted
Restricted
funds
funds
2025
2025
£
£
Transport Services
Contract transport
548,135
-
Group transport
129,089
-
Dial a bus
1,952
-
Local government grants
and gifts
22,763
-
Department of transport
-
27,712
701,939
27,712		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
548,135
577,021
-
129,089
180,849
-
1,952
1,073
-
22,763
19,253
-
27,712
-
8,153
729,651
778,196
8,153		 Total
2024
£
577,021
180,849
1,073
19,253
8,153
786,349

5 Income from investments

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Income from unlisted investments - 32,500
Other income - interest 90,381 78,306
Other income - rent received 16,200 6,000
106,581 116,806

EREWASH COMMUNITY TRANSPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

6 Other income

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Services to Little Transport Limited 10,040 13,020

EREWASH COMMUNITY TRANSPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

7 Expenditure on charitable activities

Operational
2025
£
Direct costs
Staff costs
340,926
Depreciation and impairment
81,839
Bus hire
1,626
Vehicle repairs
83,114
Vehicle insurance
30,048
Radio site rental and upkeep
5,163
Fuel
44,438
Rent, rates and water
-
Telephone
-
Office, equipment and stationery
-
Sundry expenses
-
Bank charges
-
Legal and professional fees
-
Advertising
-
Computer maintenance
-
Audit fees
-
587,154
Analysis by fund
Unrestricted funds
551,239
Restricted funds
35,915
587,154		 Support Governance
2025
2025
£
£
146,559
-
-
-
-
-
-
-
-
-
-
-
-
-
6,612
-
1,688
-
2,575
-
5,693
-
35
-
18,334
-
400
-
6,141
-
-
7,429
188,037
7,429
188,037
7,429
-
-
188,037
7,429		 Total
Operational
2025
2024
£
£
487,485
312,551
81,839
66,775
1,626
5,860
83,114
78,825
30,048
23,230
5,163
5,031
44,438
46,724
6,612
-
1,688
-
2,575
-
5,693
-
35
-
18,334
-
400
-
6,141
-
7,429
-
782,620
538,996
746,705
538,996
35,915
-
782,620
538,996		 Support Governance
2024
2024
£
£
131,453
-
-
-
-
-
-
-
-
-
-
-
-
-
7,169
-
1,733
-
784
-
4,792
-
93
-
3,614
-
2,306
-
4,768
-
-
7,394
156,712
7,394
156,712
7,394
-
-
156,712
7,394		 Total
2024
£
444,004
66,775
5,860
78,825
23,230
5,031
46,724
7,169
1,733
784
4,792
93
3,614
2,306
4,768
7,394
703,102
703,102
-
703,102

EREWASH COMMUNITY TRANSPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

8 Net movement in funds 2025 2024
£ £
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets 81,839 66,775
Loss on disposal of tangible fixed assets 1,415 1,629

9 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the company during the year.

10 Employees

The average monthly number of employees during the year was:

2025 2024
Number Number
Office 3 3
Drivers and escorts 32 32
Total 35 35
Employment costs 2025 2024
£ £
Wages and salaries 422,375 389,972
Social security costs 20,566 15,672
Other pension costs 44,544 38,360
487,485 444,004
There were no employees whose annual remuneration was £60,000 or more.
Other
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Net loss on disposal of tangible fixed assets 1,415 1,629
1,415 1,629

11 Other

EREWASH COMMUNITY TRANSPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

12 Gains and losses on investments

Unrestricted Unrestricted
funds funds
2025 2024
Gains/(losses) arising on: £ £
Sale of investments 512,964 -

13 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

14 Tangible fixed assets

Cost
At 1 April 2024
Additions
Disposals
At 31 March 2025
Depreciation and impairment
At 1 April 2024
Depreciation charged in the year
Eliminated in respect of disposals
At 31 March 2025
Carrying amount
At 31 March 2025
At 31 March 2024		 Land &
Buildings
£
178,950
-
-
178,950
19,920
610
-
20,530
158,420
159,030		 Office
Equipment
£
7,551
7,913
-
15,464
6,163
930
-
7,093
8,371
1,388		 Computers
£
4,410
-
-
4,410
4,410
-
-
4,410
-
-		 Motor
vehicles
£
962,205
8,869
(125,474)
845,600
550,714
80,299
(115,476)
515,537
330,063
411,491		 Total
£
1,153,116
16,782
(125,474)
1,044,424
581,207
81,839
(115,476)
547,570
496,854
571,909

EREWASH COMMUNITY TRANSPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

15 Fixed asset investments

Unlisted
investments
£
Cost or valuation
At 1 April 2024 80,000
Disposals (80,000)
At 31 March 2025 -
Carrying amount
At 31 March 2025 -
At 31 March 2024 80,000

16 Debtors

Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
17
Creditors: amounts falling due within one year
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income
18
Retirement benefit schemes
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes		 2025
£
30,105
749
16,490
47,344
2025
£
9,405
13,210
2,615
4,800
30,030
2025
£
44,544		 2024
£
-
55,873
64,644
120,517
2024
£
8,778
32,966
2,473
4,800
49,017
2024
£
38,360

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

EREWASH COMMUNITY TRANSPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

19 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

Grant income
Previous year:
Grant income
Fuel expenditure		 At 1 April
2024
Incoming
resources
Resources
expended
At 31 March
2025
£
£
£
£
8,203
27,712
(35,915)
-
At 1 April
2023
Incoming
resources
Resources
expended
At 31 March
2024
£
£
£
£
-
8,203
17,301
25,504
-
-
(17,301)
(17,301)
-
8,203
-
8,203		 At 1 April
2024
Incoming
resources
Resources
expended
At 31 March
2025
£
£
£
£
8,203
27,712
(35,915)
-
At 1 April
2023
Incoming
resources
Resources
expended
At 31 March
2024
£
£
£
£
-
8,203
17,301
25,504
-
-
(17,301)
(17,301)
-
8,203
-
8,203
8,203

20 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

General funds
Previous year:
General funds		 At 1 April
2024
Incoming
resources
Resources
expended
Gains and
losses
At 31 March
2025
£
£
£
£
£
3,081,249
819,060
(748,120)
512,964
3,665,153
At 1 April
2023
Incoming
resources
Resources
expended
Gains and
losses
At 31 March
2024
£
£
£
£
£
2,877,958
908,022
(704,731)
-
3,081,249

21 Analysis of net assets between funds

Unrestricted
Restricted
funds
funds
2025
2025
£
£
At 31 March 2025:
Tangible assets
496,854
-
Current assets/(liabilities)
3,168,299
-
3,665,153
-		 Total
2025
£
496,854
3,168,299
3,665,153

EREWASH COMMUNITY TRANSPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

21 Analysis of net assets between funds

Analysis of net assets between funds (Continued)
Unrestricted Restricted Total
funds funds
2024 2024 2024
£ £ £
At 31 March 2024:
Tangible assets 571,909 - 571,909
Investments 80,000 - 80,000
Current assets/(liabilities) 2,429,340 8,203 2,437,543
3,081,249 8,203 3,089,452

22 Financial commitments, guarantees and contingent liabilities

The total financial commitments of the company were £8,479 (2024: £nil).

23 Trustee's remuneration and expenses

Trustees received reimbursement for travel costs for attending meetings which amounted to £nil (2024: £nil).

24 Related party transactions

The company had invested in the share of Little Transport Limited in previous years and as such any transactions are considered to be a related party. In the year the company sold its shareholding in Little Transport Limited.

Transactions with related parties

During the year the company made sales of services and rent to Little Transport Limited totalling £26,040 (2024: £19,020) and purchases of goods and services totalling £70,947 (2024: £48,671).

Issuer

Afford Bond Holdings Ltd

Document generated Tue, 2nd Dec 2025 15:39:16 GMT Document fingerprint 1b7bb8f523da5d6b06acecbc6a53a337

Parties involved with this document

Document processed

Party + Fingerprint

Tue, 2nd Dec 2025 16:21:28 GMT Wed, 3rd Dec 2025 13:26:55 GMT Wed, 3rd Dec 2025 13:28:31 GMT

Pete O'malley - Signer (df892c49bb64455eb93f5a43af966810) Frank Phillips - Signer (b5c133edc841b0af673117a73e971e67) Pete O'malley - Signer (22e53c5760083e0c5c022bca1b9954b2)

Audit history log

Date

Action

Tue, 2nd Dec 2025 15:39:16 GMT Tue, 2nd Dec 2025 15:39:16 GMT

Tue, 2nd Dec 2025 15:39:16 GMT Tue, 2nd Dec 2025 15:42:58 GMT

Tue, 2nd Dec 2025 15:45:43 GMT Tue, 2nd Dec 2025 15:49:26 GMT Tue, 2nd Dec 2025 15:49:26 GMT Tue, 2nd Dec 2025 16:21:18 GMT Tue, 2nd Dec 2025 16:21:29 GMT Tue, 2nd Dec 2025 16:21:29 GMT

Tue, 2nd Dec 2025 16:21:30 GMT Wed, 3rd Dec 2025 13:24:12 GMT Wed, 3rd Dec 2025 13:24:35 GMT Wed, 3rd Dec 2025 13:25:59 GMT Wed, 3rd Dec 2025 13:26:55 GMT

Envelope generated by Paul Booth (51.148.103.225) Document generated with fingerprint 617ada3b48911f9785a9916d8d5ecd0c (51.148.103.225) Document generated with fingerprint a19e35102aafa5f98bb393d9f08787dc (51.148.103.225) Document generated with fingerprint a390b43dc8bb4812d28eb479d4952eb1 (51.148.103.225) Document generated with fingerprint 1b7bb8f523da5d6b06acecbc6a53a337 (51.148.103.225) Sent the envelope to Pete O'malley (petero@affordbond.com) for signing (51.148.103.225) Document emailed to petero@affordbond.com Pete O'malley viewed the envelope (51.148.103.225) Pete O'malley signed the envelope (51.148.103.225) Sent the envelope to Frank Phillips (frankphillips26@gmail.com) for signing (51.148.103.225) Document emailed to frankphillips26@gmail.com Frank Phillips opened the document email. (66.249.93.66) Frank Phillips viewed the envelope (82.132.185.233) Frank Phillips viewed the envelope (82.132.185.233) Frank Phillips signed the envelope (82.132.185.233)

Sent the envelope to Pete O'malley (petero@affordbond.com) for signing

Wed, 3rd Dec 2025 13:26:55 GMT

(82.132.185.233)

Wed, 3rd Dec 2025 13:26:56 GMT Wed, 3rd Dec 2025 13:28:12 GMT Wed, 3rd Dec 2025 13:28:21 GMT Wed, 3rd Dec 2025 13:28:31 GMT Wed, 3rd Dec 2025 13:28:31 GMT

Document emailed to petero@affordbond.com Pete O'malley viewed the envelope (51.148.103.225) Pete O'malley viewed the envelope (172.186.8.69) Pete O'malley signed the envelope (51.148.103.225) This envelope has been signed by all parties (51.148.103.225)