KEIGHLEY BUS MUSEUM TRUST LTD
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022
Company registration number 2738413
Charity Number 1060457
Keighley Bus Museum Trust Ltd Financial Statements For The Year Ended 31 July 2022
Contents
| Contents | |
|---|---|
| Page | |
| Members of the Board and professional advisers | 3 |
| Trustees’ Annual Report | 4 |
| Independent examiner’s report to the trustees | 8 |
| Statement of financial activities (incorporating the income and expenditure account) | 9 |
| Balance Sheet | 10 |
| Notes to the Financial Statements | 11 |
Keighley Bus Museum Trust Ltd Members of the Board and Professional Advisers For The Year Ended 31 July 2022
| Trustees | Mr Norman Shepherd |
|---|---|
| Mr Gerald Newton | |
| Mr Michael Berry | |
| Mrs Marlene Waye | |
| Mr Peter Cribbin | |
| Mr Simon Waye | |
| Mr Neil Halliday | |
| Mr Michael Holian | |
| Mr David Byrne | |
| Mr John Hewlett | |
| Secretary | Mr Simon Waye |
| Company Number | 2738413 |
| Charity Number | 1060457 |
| Registered Office | Unit 5, River Technology Park |
| Riverside, Dalton Lane | |
| Keighley | |
| West Yorkshire | |
| BD21 4JP | |
| Independent Examiner | Greenwood Barton Limited |
| Chartered Certified Accountants | |
| Premier House | |
| Bradford Road | |
| Cleckheaton | |
| West Yorkshire | |
| BD19 3TT | |
| Bankers | National Westminster Bank plc |
| 63 North Street | |
| Keighley | |
| West Yorkshire | |
| BD21 3SN |
3
Keighley Bus Museum Trust Ltd Company No. 2738413 Trustees’ Annual Report For The Year Ended 31 July 2022
The trustees, who are also directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 July 2022.
REFERENCE AND ADMINISTRATIVE DETAILS
Reference and administrative details are shown in the schedule of members of the board and professional advisers on page 3 of the financial statements.
THE TRUSTEES
The trustees who served the charity during the year were as follows:
| Mr M Berry | APPOINTED | 15/01/2017 |
|---|---|---|
| Mr S Daymond | RESIGNED | 24/01/2022 |
| Mr N Halliday | APPOINTED | 04/08/2022 |
| Mr M Merry | RESIGNED | 01/01/2022 |
| Mr Gerald Newton | APPOINTED | 26/01/2022 |
| Mrs Marlene Waye | APPOINTED | 26/01/2022 |
| Mr Simon Waye | APPOINTED | 26/01/2022 |
| Mr Norman Shepherd | APPOINTED | 20/10/2021 |
| Mr John Hewitt | APPOINTED | 26/01/2022 |
| Mr Michael Holian | APPOINTED | 24/01/2022 |
| Mr David Byrne | APPOINTED | 24/01/2022 |
| Mr Peter Cribbin | APPOINTED | 04/01/2022 |
4
Keighley Bus Museum Trust Ltd Company No. 2738413 Trustees’ Annual Report For The Year Ended 31 July 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Keighley Bus Museum Trust is a Company Limited by Guarantee, governed by its Memorandum and Articles dated 7[th] August 1992, as amended on 1[st] December 1996, 3[rd] July 1997 and 28[th] May 1998. It is registered as a Charity with the Charity Commission. Anyone 18 years of age can become a member with voting rights, subject to Board approval. There is also a provision for junior members and KBMT ‘Friends’ who do not enjoy voting rights. There are currently some 92 members (2021 - 100 members), each of whom undertakes to contribute £1 in the event of the company winding up.
Appointment of trustees
Each year an AGM (Annual General Meeting) is held and the election of Trustees takes place as part of this meeting. In all, three Trustees can be elected: two Trustees and an officer ie. Chairman, Secretary, or Treasurer. In addition, any Trustee’s who have resigned during the year prior to the AGM can be replaced.
Those elected then serve for a term of two years in the case of a Trustee or for a term of three years in the case of Chairman, Treasurer and Secretary. Those appointed serve until the AGM that is held in their final year unless they resign or are otherwise disqualified according the Articles of Association. In addition to those elected the Trustees have the power to both replace those who resign (or are disqualified) and to co-opt up to four additional Trustees, who serve until the next Annual General Meeting.
Co-opted trustees are generally added to provide specific expertise, knowledge, capability or capacity not available from those who were elected.
Trustee Induction and Training
All Trustees are appointed from within the membership of the trust and so will be familiar with the objectives and functions and extensive training is not therefore required.
Each new Trustee will be provided with a copy of the Memorandum and Articles of Association and will be provided with on the job guidance by experienced Trustees.
Organisation
As a whole the organisation consists of around 100 members who join by annual subscription with around 30 of those active volunteers who work to further the objectives of the trust.
The board of Trustees, which can consist of up to eleven members, meets regularly to discuss and review all key topics of the Trusts business. Many of the Trustees also work at the museum premises and use this opportunity to discuss operational matters and relevant activity. On an ongoing basis the Trustees are in touch by e-mail and telephone to ensure that significant developments are known to all and quickly attended to.
There is a formal sub-committee in place looking at the Trusts event programme, which is made up of both Trustees and ordinary members. Consideration is being given to establish more sub-committees for other matters as this has proved effective and is within the Trustees power to delegate authority. Some activities are delegated to Members who produce monthly Board Reports. These activities remain the responsibility of the trustees.
Each of the Trustees also take on specific roles such as vehicle maintenance, private hire duties, compliance, memberships etc. with these being agreed by all the Trustees from the outset.
Risk Management
Weekly checks are performed to safeguard against potential fire risk coupled with annual testing of fire extinguishers maintain the Trusts compliance to fire prevention and mitigation. Health and safety issues are identified, discussed and subsequently resolved at monthly Board meetings, supporting the Trusts culture to operate in a safe environment.
The private hire fleet is maintained and safety checked on a 10 weekly basis with a DVSA approved centre on a predefined contractual basis. Risk assessments are performed and any corrective actions applied prior to public events.
Financial risks are minimised by a regular scrutiny of all commitments, reserves and cash-flow predictions by the Trustees.
5
Trustees’ Annual Report For The Year Ended 31 July 2022
Keighley Bus Museum Trust Ltd Company No. 2738413
OBJECTIVES AND ACTIVITIES
The aim of the Charity is to educate the public by establishing within the Keighley and Aire Valley area of West Yorkshire one or more operational or static museums of transport history and archaeology covering all aspects of road public passenger transport.
To achieve this principal objective is to acquire on a freehold a permanent building or buildings capable of accommodating the Museum’s collection of vehicles and artefacts, such that they can be exhibited in a manner which fulfils the Charity’s educational purpose. At the same time, the avoidance of an ongoing rental payment will enable the Charity to direct funds towards the acquisition and restoration to running order of a representative collection of buses, coaches and ancillary vehicles. It is the Trustees’ firm conviction that the charity has, and will continue to have, sufficient income to make it self-sustaining on an indefinite basis, once the initial hurdle of permanent accommodation is resolved, and for this reason acquiring such accommodation is the focus of long-term development plans.
In order to advance its aims, the Museum leases a building at River Technology Park, Keighley, which accommodates the vehicles owned by, or loaned to the Charity, (currently Thirty two) together with some seventy seven privatelyowned vehicles which pay an economic rent for the space occupied. Given the improvements that have been made to the building and surroundings several Open Days are held each year and these are used to promote the work of the Charity. In addition we attend events throughout the region to educate and inform the public of the Charity’s work. We invite local schools to the museum for educational visits.
Additionally, we also act as a clearing house and help service for those seeking accommodation, parts or advice on the restoration of buses, or information on matters of bus industry history and practice.
Public benefit
The Trustees confirm that they have paid due regard to the Charity Commission’s guidance on public benefit and consider their activities to be in compliance therewith.
ACHIEVEMENTS AND PERFORMANCE
After instructing Colliers, Leeds, to undertake a structural survey and valuation of the premises at Riverside, the KBMT Board were advised by Colliers and ABL mortgage brokers that the premises would not attract a mortgage from any lender. Having built a good relationship with the current landlord it was then decided that the KBMT would enter into a formal lease for the premises at Riverside. These negotiations are still ongoing.
The Trustees continue to work on improving the cleanliness and facilities within the premises.
Financial Review
The operating profit for the year was £20,479 to carry forward to the following year. Reserves at the end of the year were £237,557 including restricted funds of £5,271 and fixed assets of £52,457 of which £46,082 are endowment funds. The present level of reserves available to the charity is £124,953 which are used to finance additional projects, trading in the ensuing year as a backup reserve.
6
Keighley Bus Museum Trust Ltd Company No. 2738413 Trustees’ Annual Report For The Year Ended 31 July 2022
Restricted funds
The charity holds some £5,271, £1,600 of which is residue of £2,000 which was gifted from the Leeds Transport Historical Society for use only in maintaining and restoring former Leeds buses. Restoration work on Leeds 980 will soon be in progress, and these funds will be considerably reduced in the near future.
Reserves policy
The continued surplus of income over expenditure has allowed the Trust to significantly increase the sums held on deposit. Whilst insufficient to fund any major expenditure, these now provide a reasonable buffer against unforeseen fluctuations in running costs and income.
PLANS FOR FUTURE PERIODS
The Trust hopes to enter into a lease with the current landlord which will ensure that the collection is safely housed. The Trust will then look again at the possibility of purchasing more suitable premises to house the collection in the long term. The Trust will continue to raise funds to meet this aim by continuing to offer Private Hire work and hold special events and open days either at our premises or in the community. The Trust will raise additional income by renting surplus space to private individuals.
INDEPENDENT EXAMINER
Greenwood Barton Limited were appointed to report on the financial statements for the year ended 31 July 2022 and have been re-appointed as independent examiner for the ensuing year.
Signed by order of the trustees
Mr Simon Waye 26/04/2023
7
Keighley Bus Museum Trust Ltd Independent Examiner's Report For The Year Ended 31 July 2022
I report on the accounts of the charity for the year ended 31 July 2022 which are set out on pages 9 to 17.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER
The trustees (who are also the directors of Keighley Bus Museum Trust Ltd for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
-
examine the accounts under section 145 of the 2011 Act;
-
to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
-
to state whether particular matters have come to my attention.
BASIS OF INDEPENDENT EXAMINERS REPORT
My examination 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 unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
INDEPENDENT EXAMINER’S STATEMENT
In connection with my examination, no matter has come to my attention:
-
(1) which gives me a reasonable cause to believe that in any material respect the requirements:
-
to keep accounting records in accordance with section 386 of the Companies Act 2006; and
-
to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the statement of Recommended Practice: Accounting and Reporting by Charities
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Mr Richard Ineson FCCA Independent examiner Greenwood Barton Limited Chartered Certified Accountants Premier House Bradford Road Cleckheaton West Yorkshire BD19 3TT
26 April 2023
8
Keighley Bus Museum Trust Ltd Statement of Financial Activities (incorporating the Income and Expenditure Account) For The Year Ended 31 July 2022
| Notes INCOME AND ENDOWMENTS Donations and legacies 2 Other trading activities 3 Investment income 4 Other income 5 TOTAL INCOME EXPENDITURE Expenditure on raising funds: Costs of raising donations and legacies 6 Expenditure on charitable activities 7/8 TOTAL EXPENDITURE NET INCOME AND NET MOVEMENT IN FUNDS FOR THE YEAR 10 RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Total Funds 2022 £ 24,403 73,809 49 - 98,261 (2,577) (75,205) (77,782) 20,479 217,078 237,557 |
Total Funds 2021 £ 11,753 72,310 11 - |
|---|---|---|
| 84,074 | ||
| (1,073) (68,030) |
||
| (69,103) | ||
| 14,971 202,108 |
||
| 217,078 |
The Statement of financial activities includes all gains and losses in the year.
All the above amounts relate to continuing activities.
The notes on pages 11 to 17 form part of these financial statements.
9
Keighley Bus Museum Trust Ltd Balance Sheet As at 31 July 2022
| Notes FIXED ASSETS Tangible Assets 13 CURRENT ASSETS Stocks 14 Debtors Cash at bank and in hand Creditors: Amounts Falling Due Within One Year 15 NET CURRENT ASSETS (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS OF THE CHARITY Endowment funds 16 Restricted income funds 17 Unrestricted income funds 18 MEMBERS' FUNDS |
2022 £ £ 51,932 2,727 545 194,780 198,052 (12,038) 186,014 237,946 237,946 101,347 5,271 131,328 237,946 |
2022 £ £ 51,932 2,727 545 194,780 198,052 (12,038) 186,014 237,946 237,946 101,347 5,271 131,328 237,946 |
2021 £ £ 52,818 1,727 460 174,111 176,298 (12,038) 164,260 217,078 217,078 102,106 5,271 109,701 217,078 |
2021 £ £ 52,818 1,727 460 174,111 176,298 (12,038) 164,260 217,078 217,078 102,106 5,271 109,701 217,078 |
|---|---|---|---|---|
186,014 |
164,260 |
|||
| 198,052 (12,038) |
176,298 (12,038) |
|||
| 237,946 | 217,078 | |||
| 237,946 | 217,078 | |||
| 101,347 5,271 131,328 |
102,106 5,271 109,701 |
|||
| 237,946 | 217,078 |
For the year ending 31 July 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Trustees' responsibilities:
-
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
-
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements were approved by the members of the committee and authorised for issue on the 26 April 2023 and are signed on their behalf by:
On behalf of the board
Mr Simon Waye 26/04/2023
The notes on pages 11 to 17 form part of these financial statements.
10
Keighley Bus Museum Trust Ltd Notes to the Financial Statements For The Year Ended 31 July 2022
1. ACCOUNTING POLICIES
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention, as modified by the revaluation of certain fixed assets and investments measured at market value. The financial statements have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), and the requirements of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) (SORP 2015).
Income
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income.
Rents receivable represent the total rental income received from members who store their buses at the museum.
Grants and donations for specific purposes are credited to a designated reserve until such time as that purpose is met.
Other grants and donations are credited to the income and expenditure account in the year in which they are received.
Where grants and donations are given for specific purposes then they are separated into endowment funds (to be kept on a permanent basis), restricted funds (given for specific purpose) and unrestricted funds (given to be utilised as the trustees think best suits the charity's objectives).
Donated goods, services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these accounts.
Investment income is included when receivable.
Expenditure
Expenditure is recognised when a liability is incurred. Irrecoverable VAT is charged to the sofa as incurred.
Cost of raising donation and legacies are those costs incurred in attending events.
Charitable activities include museum running costs including governance costs which are costs relating to constitutional and statutory requirements.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal. The charity has one restricted fund, which is to be used for the upkeep of Fleet B.
Designated funds are unrestricted funds of the charity which have been set aside to fund a particular activity.
Tangible Fixed Assets and Depreciation
All fixed assets are measured at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery Motor Vehicles
25% reducing balance 1.1% straight line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slowmoving stocks.
11
Keighley Bus Museum Trust Ltd Notes to the Financial Statements (continued) For The Year Ended 31 July 2022
2. DONATIONS AND LEGACIES
| Donations Donations and grants Subscriptions Donations Donations and grants Subscriptions |
Unrestricted Funds Endowment Funds Total Funds 2022 £ £ £ 23,261 - 23,261 1,142 1,142 |
|---|---|
| - 24,403 24,403 |
|
| Unrestricted Funds Endowment Funds Total Funds 2021 £ £ £ 10,452 - 10,452 1,301 - 1,301 |
|
| 11,753 - 11,753 |
3. OTHER TRADING ACTIVITIES
| Rents receivable Events and stall sales Sale of scrap Other revenue |
Unrestricted Funds Total Funds 2022 Unrestricted Funds Total Funds 2021 £ £ £ £ 65,972 65,972 70,323 70,323 7,776 7,776 1,947 1,947 61 61 40 40 - - - - |
|---|---|
| 73,809 73,809 72,310 72,310 |
4. INVESTMENT INCOME
Bank interest receivable
| Unrestricted | Total Funds | Unrestricted | Total Funds |
|---|---|---|---|
| Funds | 2022 | Funds | 2021 |
| £ | £ | £ | £ |
| 49 | 49 | 11 | 11 |
5. OTHER INCOME
| Unrestricted | Total Funds | Unrestricted | Total Funds | |||
|---|---|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 | |||
| £ | £ | £ | £ | |||
| Gains on disposal of tangible fixed assets for | ||||||
| charity’s own use | - | - | - | - |
12
Keighley Bus Museum Trust Ltd Notes to the Financial Statements (continued) For The Year Ended 31 July 2022
6. COSTS OF RAISING DONATIONS AND LEGACIES
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |
| Event costs | 2,577 | 2,577 | 1,073 | 1,073 |
7. COSTS OF CHARITABLE ACTIVITIES BY FUND TYPE
| Support costs Support costs |
Unrestricted Funds Endowment Funds Total Funds 2022 £ £ £ 74,816 - 74,816 |
|---|---|
| Unrestricted Funds Endowment Funds Total Funds 2021 £ £ £ 68,030 - 68,030 |
8. COSTS OF CHARITABLE ACTIVITIES BY ACTIVITY TYPE
| Museum running costs Governance costs |
Support costs Total Funds 2022 Total Funds 2021 £ £ £ 73,479 73,479 66,693 1,337 1,337 1,337 |
|---|---|
| 74,816 74,816 68,030 |
9. ANALYSIS OF SUPPORT COSTS
| Rent Rates and water Light and heat Repairs and maintenance Depreciation Printing, postage and stationery Sundry Subscriptions Insurance Bank charges Professional fees Accountancy |
Total 2022 £ 37,276 9,143 4,598 7,011 887 1,377 1,070 25 5,512 - 6,580 1,337 74,816 |
Total 2021 £ 43,978 9,005 2,786 2,560 929 1,205 1,552 - 4,678 - - 1,337 |
|---|---|---|
| 68,030 |
13
Keighley Bus Museum Trust Ltd Notes to the Financial Statements (continued) For The Year Ended 31 July 2022
10. NET INCOMING RESOURCES FOR THE YEAR
This is stated after charging:
| his is stated after charging: | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Depreciation | 887 | 929 |
11. STAFF COSTS AND EMOLUMENTS
No salaries or wages have been paid to employees, including the members of the committee, during the year.
12. TRUSTEES’ REMUNERATION
None of the trustees have been paid any remuneration during the year (2021 – Nil)
14
Keighley Bus Museum Trust Ltd Notes to the Financial Statements (continued) For The Year Ended 31 July 2022
13. TANGIBLE ASSETS
| 3. TANGIBLE ASSETS | ||||
|---|---|---|---|---|
| Equipment | Fleet A | Fleet B | Total | |
| £ | £ | £ | £ | |
| Cost | ||||
| As at 1 August 2021 | 17,444 | 30,500 | 38,466 | 86,410 |
| As at 31 July 2022 | 17,444 | 30,500 | 38,466 | 86,410 |
| Depreciation | ||||
| As at 1 August 2021 | 16,932 | 7,783 | 8,876 | 33,591 |
| Provided during the period | 128 | 336 | 423 | 887 |
| As at 31 July 2022 | 17,060 | 8,119 | 9,299 | 34,478 |
| Net Book Value | ||||
| As at 31 July 2022 | 384 | 22,381 | 29,167 | 51,932 |
| As at 1 August 2021 | 512 | 22,717 | 29,590 | 52,819 |
| 4. STOCKS | ||||
| 2022 | 2021 | |||
| £ | £ | |||
| Stocks | 2,727 | 1,727 | ||
| 2,727 | 1,727 |
14. STOCKS
15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Trade creditors | 5,533 | 5,533 |
| Other creditors | 5,485 | 5,485 |
| Accruals and deferred income | 1,020 | 1,020 |
| 12,038 | 12,038 |
15
Keighley Bus Museum Trust Ltd Notes to the Financial Statements (continued) For The Year Ended 31 July 2022
16. ENDOWMENT FUNDS
| Permanent endowments Fleet A Fleet B Mr David Bentley dec’d |
Balance at 1 August 2021 Received Expenditure Balance at 31 July 2022 £ £ £ £ 22,717 (336.00) 22,381 24,124 (423.00) 23,701 55,265 - - 55,265 |
|---|---|
| 102,106 - (759.00) 101,347 |
Fleet A
In 1999 the museum received funding of £30,500 in total to purchase nine vehicles from the failed Transperience collection, under the terms of the funding the museum effectively cannot dispose of these vehicles and is responsible for their general maintenance and upkeep. The funding received was made up of grants from the Trustees of the National Heritage Memorial Fund (£20,500), the Science Museum PRISM Fund (£5,000) and a Bradford Council grant (£5,000).
Fleet B
In 1999 the museum was gifted four old Leeds buses from the Leeds Regent Group. Under the terms of the gift the museum cannot dispose of these buses and is responsible for their general maintenance and upkeep.
Mr David Bentley dec’d
In March 2017 the museum received a legacy from the estate of Mr David Bentley dec’d. Under the terms of this legacy, this is to be specifically used for the purpose of acquiring premises for the benefit of the Charity.
17. RESTRICTED INCOME FUNDS
Restricted Fund
Balance at 1 August 2021 and at 31 July 2022 £ 5,271
There have been no movements on restricted funds during the year ended 31 July 2022.
The Charity holds £5,271 of which £1,600 is the residue of £2,000 which was gifted from the Leeds Transport Historical Society for use only in maintaining and restoring former Leeds buses. Restoration work on Leeds 980 will soon be in progress and these funds will be considerably reduced in the near future.
18. UNRESTRICTED INCOME FUNDS
General Funds
| Balance at | Balance at | ||
|---|---|---|---|
| 1 August | Income | Expenditure | 31 July |
| 2021 | 2022 | ||
| £ | £ | £ | £ |
| 109,701 | 98,261 | (76,634) | 131,328 |
16
Keighley Bus Museum Trust Ltd Notes to the Financial Statements (continued) For The Year Ended 31 July 2022
19. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Restricted Income Funds: Restricted Fund Endowment Funds: Fleet A Fleet B Mr David Bentley dec’d Unrestricted Income Funds Total Funds |
Tangible fixed assets Net current assets Total £ £ £ - 5,271 5,271 22,381 - 22,381 23,701 - 23,701 - 55,265 55,265 6,375 124,953 131,328 |
|---|---|
| 52,457 185,489 237,946 |
20. RELATED PARTY TRANSACTIONS
During the year the Charity received rental income from Trustees for the storage costs of their own buses on the museum’s premises. This was charged at the same rate as for other members and was intended to accurately reflect the storage costs incurred by the museum.
21. COMPANY LIMITED BY GUARANTEE
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
9. GENERAL INFORMATION
Keighley Bus Museum Trust Ltd is a private company, limited by guarantee, incorporated in England & Wales, registered number 2738413. The registered office is Unit 5, River Technology Park, Riverside, Dalton Lane, Keighley, West Yorkshire, BD21 4JP.
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Issuer Greenwood Barton Limited Document generated Wed, 26th Apr 2023 17:15:32 BST Document fingerprint 5f5d1d1b1585c225b52e7d3ad00cdba4
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