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2023-03-31-accounts

REGISTERED COMPANY NUMBER: 03323024 (England and Wales) REGISTERED CHARITY NUMBER: 1060980

Report of the Trustees and

Financial Statements for the Year Ended 31st March 2023

for

Worcester Wheels

Worcester Wheels

Contents of the Financial Statements for the Year Ended 31st March 2023

Page
Reference and Administrative Details 1
Report of the Trustees 2 to 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Financial Statements 9 to 18
Detailed Statement of Financial Activities 19 to 20

Worcester Wheels

Reference and Administrative Details for the Year Ended 31st March 2023

TRUSTEES Ms M J Sacharin (resigned 26.10.23) Mr G Heath (Chair) Ms L McCall Mr P J Burgess Mr B Mallette (Vice Chairman) (resigned 28.7.23) Mr P Ball (resigned 30.6.22) Mr R Auger Chairman (appointed 1.12.22) Mr T Organ Vice Charirman (appointed 1.11.22) REGISTERED OFFICE Thorneloe House 25 Barbourne Road Worcester Worcestershire WR1 1RU

PRINCIPAL ADDRESS Unit 13 Checketts Lane Industrial Estate Checketts Lane Worcester Worcestershire WR3 7JW REGISTERED COMPANY NUMBER 03323024 (England and Wales) REGISTERED CHARITY NUMBER 1060980 INDEPENDENT EXAMINER The Richards Sandy Partnership Thorneloe House 25 Barbourne Road Worcester Worcestershire WR1 1RU SOLICITORS Hallmark Whatley Hulme LLP 3-5 Sansome Place Worcester WR1 1UQ BUSINESS MANAGER Mr D Cook

Page 1

Worcester Wheels

Report of the Trustees for the Year Ended 31st March 2023

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st March 2023. The trustees have adopted the provisions of 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 Objectives and aims

The charity's objects are:

We seek to achieve this through:

Significant activities

Our services, which we operate throughout the city of Worcester and local surrounding villages, include:

Community Transport Schemes

We have a contract with Worcestershire County Council to run its community transport services.

Dial a Ride

We provide a ‘Dial a Ride’ service between 8am and 4:30pm. We have a fleet of vehicles including minibuses and people carriers, all with tail lifts. We ensure those who have difficulty accessing public transport receive transport suitable to their needs. We provide transport to and from GP surgeries, dental appointments, lunch cubs, day centres, visiting friends and family and so much more.

Group Bookings

We provide group bookings at affordable prices to and from places such as day trips, holidays in the UK, parties and events.

Monthly Parties

We arrange monthly events both onsite and offsite. We provide transport, arrange a light buffet lunch, entertainment and often a game or two of bingo.

Public benefit

The trustees have complied with their duty under Section 17(5) of the 2011 Charities Act to have due regard to the guidance on public benefit published by the Charity Commission when deciding what activities the Charity should undertake.

Page 2

Worcester Wheels

Report of the Trustees for the Year Ended 31st March 2023

ACHIEVEMENT AND PERFORMANCE Charitable activities

Number of members using the service in 22/23 was 896 (21/22 - 598).

Number of new members enrolled in 22/23 was 457 (21/22 - 331).

Volunteer Support:

2023 2022
Drivers and PAs 38 33
Private Car Drivers 10 14
Administrative Support 10 9
58 56

In 22/23 we travelled over 221,000 miles (21/22 - 180,000 miles):

2023 2022
Private Cars 54,135 45,594
Minibus/MPV 167,809 137,346
Total Vehicle Mileage 221,944 182,940

Over 20,000 individual journeys, broken down as follows:

2023 2022
Hospital appointments 1,587 981
GP surgery appointments 1,269 848
Other medical appointments 1,277 1,120
Day Centre/Clubs etc. 11,245 8,036
Social/Shopping etc. 5,211 3,642
Total passenger single journeys 20,589 14,627

Once again, we have enjoyed a successful year of growth and further development of our operations. Post pandemic, we set ourselves a cautious but challenging recovery budget in 21/22 which we achieved, and in 22/23 we have built on this foundation with a number of exciting developments and a small surplus.

We continue to enjoy the support of the City and County Council, for the provision of school services and we have also seen the continuance of the local, council supported, community bus services in Norton and Peopleton.

We have also entered into contracts with new partners, NewMedica and St Richards Hospice for the provision of transport services.

As the lease on our current premises expired in May 2022 we negotiated with our current landlord for a newly refurbished unit and additional parking on our existing site at Checketts Lane Industrial Estate. This move has enabled us to create an office space more suited to our needs and also the addition of a portable office which is used for our hub activities. The new office environment has had a very positive impact on staff morale.

Our day trips, party events and hub activities have proved very popular amongst our clients and have contributed to the increase in our Dial A Ride activity.

Once again, we have been very fortunate to receive a substantial legacy from the estate of a former customer, Miss Irene Haynes, and we continued to pursue several grant applications.

On the expenses front, we suffered severe delays on the delivery of 2 replacement vehicles which we had planned to replace in the early part of 2022. These were not received during the 22/23 year of account and resulted in significant additional costs of repairs to our ageing fleet and additional short term rental charges. The volatile price of fuel was a further cost that the business had to absorb. The relocation and refurbishment of the office premises has also had an impact on our financial result.

Page 3

Worcester Wheels

Report of the Trustees for the Year Ended 31st March 2023

There is no reason to suppose that our operation will not continue to grow as demand for our service increases and we now have the facilities and resources to meet this demand.

FINANCIAL REVIEW

Financial position

The results for the year and financial position of the company are as shown in the Statement of Financial Activities and Balance Sheet.

Total income from charitable activities received during the year was £465,532 compared to £396,799 last year, with the increase largely being due to a new monthly bus service provided to a private individual.

Total expenditure has increased from £361,236 last year to £457,836 this year, with the increase being mainly due to increased wages.

At the year end the charity held unrestricted funds of £343,755 (2022 - £353,022), of which £137,113 (2022 - £49,802) was held as tangible fixed assets, leaving £206,642 (2022 - £303,220) available funds.

At the year end the charity held restricted funds of £34,202 (2022 - £17,239).

Note that the split of funds between restricted and unrestricted funds has been restated. Please refer to note 21 for further details.

Reserves policy

The Board aims to keep a reserve of unrestricted funds (excluding funds held within tangible fixed assets) equivalent to at least three months ongoing expenditure. This reserve is held in case of either a sudden loss of funding or incurring of unexpected expenditure, in order to ensure that in such circumstances the charity could continue to operate as a going concern.

Following the charity making significant improvements to their leasehold property in the year funded primarily out of unrestricted reserves, as well as an increase in expenditure in the year, the level of unrestricted funds (excluding fund held within tangible fixed assets) has fallen to approx. 9 months of expenditure for the year, compared to 12 months last year. This level of reserves is considered consistent with the Board's stated reserves policy.

STRUCTURE, GOVERNANCE AND MANAGEMENT GOVERNING DOCUMENT

The charity is a company limited by guarantee which is governed by its Memorandum and Articles of Association adopted on 1 April 1997 and amended on 13 November 2003, 19 April 2005 and 28 June 2018.

In accordance with Section 60(1)(a) of the Companies Act 2006, the company is exempt from the requirements of that Act to include 'Limited' as part of its name.

Recruitment and appointment of new trustees

The directors of the company are also charity trustees for the purposes of charity law and under the company's articles are known as members of the Board. Under the requirements of the Memorandum and Articles of Association the members of the Board are elected to serve for a period of three years, after which they must be re-elected at the next annual general meeting.

The trustees are appointed at the Annual General Meeting to ensure that the Board represents a cross section of the community including other voluntary organisations, local authorities and individuals with relevant professional backgrounds.

Trustees are openly recruited from members of the public and from individuals/organisations who are associate members. An assessment of member skills is undertaken annually to determine any gaps in skills which would assist the Board to function more effectively.

Decision making

The Board meets every two months.

There is an Annual General Meeting organised each year to enable members and others to review activity.

The Business Manager has delegated authority, under terms approved by the Board, for all day to day activity including financial, employment and staff supervision, but has to present a report at each meeting of the Board.

Page 4

forth• Yw End￿ 31st IAaw¢h 21123 STRUCTURQ GOVERNANCE AND MANAGEMEiir Indu¢tlon and tralnln9 01 n•w tru5t•g5 New trustees F¥ovbYed %•ilh ti)pies of Ihe ￿51 recrt ￿nUel rerxyt and xctsjnts, a role des(aiption of the rgsr4)ns)ililles of a Iru51ee, a copy ol the meT￿nd￿rn 8ThJ ￿ticleS ol Awx?ation of W¢)rc•st•r Wheets. of recent miwte5 of and a c4¥y of Ihe Charity knrfmss￿ publicalic￿. 'Rg$P)rBikn.￿1I￿ of Charty Truslo0S'. New trustees a150 receNO on Sess￿ wwjertaken by Chaw and Ckrk lo the Truslees. RISK ASSESSMENT A lormal Risk Registèf L% mamtsined 8ThJ reVe￿￿d •t •vwy Bcwd ITWW. Ths knJ8tO88' to rnview the 8k$ to the M￿h1 b8 0$ wjenliled trwto6•. ha¥ 8StatAtshJ system ar￿ procedures to man898 th088 ￿ks. QUALIPdNG THIRD PARTI INDEMNITY PROVISK Thè ¢haiitabl& (x)mpany has made fvrd paty kndernnty KWOV￿￿ the b￿￿fft of ts direclcK8 durfNJ tho lh￿& provis)ns remoln in fNco at the reP￿try d*. ThSs rewrt has bgen pr•pw•J JpKaal pro¥•Ji￿ rf Pwl 15 al thè cCffipAn￿S 2C#J6 rdab'TrJ to Bmall ¢￿panI¢s. MrG Heath.T PwJe 5

Independent Examin¢f$ R¢port to th• Try$tees of Wtsreèstèr Whèèls Independent examiMrf• ryrt to the trustees of Woreester Iltheds fthe Company'l I report to the charity trustees on my 0x￿1n8ti0n of lh¢ a(x>)unts of the Company for the year ended 31st March 2023. Re8pon8lblllt1•8 and basis of report As th• charity$ trustees of the Company land also ils directors for Ihe purpose5 of company lawl you are re5ponsitife for the preparation of the accounts in accordance wth the requirements of the Compan￿$ A¢t 21￿ Ilhe 20C6 Act). Hawng salisfd myseti that the accounts of the Company a￿ not raoui￿ lo be wdrted undef Part 16 of the 20C6 Act and are eligible for independent exarnination, I report in r•sped ol my examinalion ol your accounts as ¢arried out under Section 145 of the Chantbes Ala 2011 {Ihe 2011 Adl. In CO￿.ng out my examinats.on I have foll¢)wed the Direction3 given by the Charty CommissKJn under Section 145151 Ibl ofthe 2011 Act. Ind•p•nd•nt èxamln•rfs statsrn•nt Since your chaiity's gross income exceeded £250.(K)O your examiner must be 8 membef of a listed boty. I can ¢onflmi that l am qualified to undertake the examination bttause l am a mom￿[ of the Assouation of Chartered Cgrtifi•d Accountants, which is one of the listed byjitrs. I have c4Jmpleted my examinab"on. I ￿nfim) tho1 no m8tt¢r8 have com8 to my attent￿￿ in ¢onnection the examination giving me cause to belS&¥e.' a¢¢ounling records We￿ not kept in T88PeCt ofthe Ccthpany 8$ Nu1￿j by Section 388 of the 20C6 Act., or the accounts do not accord wth those re¢ord$; or the accc4Jnts do not compty a¢counb"ng raquir￿m￿nts of Section 396 ol the 2LXJ6 Acl oth•r than any requirement that thé a¢¢ount$ gN¢ a true and lalr vièw which is not a malter considewd 88 Part ol an independent &¥8minalwi.' or thè a¢¢ounl$ have not be￿ Fwored in accordance ilh the methods and princ6ple8 of the Slatement of Rec¢mmertded Pra&i¢e for accounling and reporting by tharib'es (applicable to charitiès preparing th&r ¥C￿unIS in accordance nth Ihe Financial Roporting Standard appl￿ble in the UK and R*pubts¢ of Ireland IFRS 10211. I have no concEms and have cm atross no other mgtter8 kn oxne¢ty"on Vh th• •xamination to vthlch attentlon Should bo drawn in thi8 r•port in to •nabl8 a proper underslanding of th• 8co)unts to ba reached. Melissa Je8n Goown ACCA The Rl¢hard8 S8ndy Partn¢t8hlp Thom•loe House 25 Barboume Ro& Wor¢ester Woreeslershlre WR1 1RU Date...L*luJks......................... Page 6

Worcester Wheels

Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31st March 2023

2023
Unrestricted
Restricted
Total
fund
funds
funds
Notes
£
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
3
18,545
42,547
61,092
Charitable activities
6
Charitable Activities
395,531
-
395,531
Other trading activities
4
6,976
-
6,976
Investment income
5
1,933
-
1,933
Total
422,985
42,547
465,532
EXPENDITURE ON
Raising funds
1,632
532
2,164
Charitable activities
7
Charitable Activities
436,667
19,005
455,672
Total
438,299
19,537
457,836
NET INCOME/(EXPENDITURE)
(15,314)
23,010
7,696
Transfers between funds
19
6,047
(6,047)
-
Net movement in funds
(9,267)
16,963
7,696
RECONCILIATION OF FUNDS
Total funds brought forward
353,022
17,239
370,261
TOTAL FUNDS CARRIED FORWARD
343,755
34,202
377,957		 2022
Total
funds
£
57,806
336,651
1,768
574
396,799
1,238
359,998
361,236
35,563
-
35,563
334,698
370,261

The notes form part of these financial statements

Page 7

Balan¢• She•t 31st Mareh 2023 2023 2022 Tota funds fiJThJ fijnds FUED ASSErs Tangible 8sset$ Inwstrnerrts 14 15 137.112 137.112 49,&J1 137,113 137,113 49,802 CURREMf ASSETS Debtc¥s Cash at bank hand 16 50,345 194,569 J,917 262.818 100.367 218.712 34202 252,914 353,735 ¢REDtTORS Arnolxts laliry dug >8r 17 11107(11 1110701 1332761 NET CURRENT A8SErs 34.2ff 320.4S9 TOTAL A8SEf8 LESS CURRENT UABILIrnS 341751 343Q2 377.937 370261 NET ASSErs 343,755 34202 3TT,957 370.261 FUNOS Unreslrfcted fvnd• Re61rtt¢d lunds 19 343.755 34,202 353.022 17,239 TOTAL FUNDS J77.957 370281 Thg chBrft8bK8 ￿IrPanY i¥ •ntilknd lo •￿n￿4th Irrffi •wJ¢ wyler PJoctirm 477 Comp•nhs Act lor ts year ond￿ 31st March 2023. The members have Th)t req￿red fv (xryary to an athrt of Its stat•m•)ts fw lh8 ￿r 31st March 2023 in sect￿ 476 ofts Cryarles Ad 2C(6. lal Companies Act 2(£6 and preparing fina￿01 $tements whth giw • tslr crf Iho slats of affws of the (arrtabb o)mp8ny as gt the WKI of finarKial year Bnd crf its SWFkn or defDt for eath finaMxl y•ar in accordan￿ with th requirern¢nls of SeCtiOr￿ 394 and 395 WKI othen¥tse wTh)ly ￿ the requk•rfthts ol ts compan￿ 2006 re18ting (o fvwndal stotwngnts. 80 far es aptdK8tle to ltr chwitth c£¥n￿nY. (bi Subieet to the smell c¢￿￿$ wime. .. and ￿Te s3n8d on bdwirty.

Worcester Wheels

Notes to the Financial Statements for the Year Ended 31st March 2023

1. STATUTORY INFORMATION

Worcester Wheels is a charitable company, limited by guarantee, registered in England and Wales. The charitable company's registered number and registered office address can be found on the Reference and Administrative Details page. The members of the company are the trustees named in the Report of the Directors. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.

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

The charity is exempt from preparing a cashflow statement because it is not a larger charity.

PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS

The financial statements contain information about Worcester Wheels as an individual company and do not contain consolidated financial information as the parent of a group. The charity is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

INCOMING RESOURCES

All incoming resources are included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Income from grants and donations is recognised in the period in which the charity is entitled to receipt and the amount can be measured with reasonable certainty. Income from grants is only deferred when the charity has to fulfil conditions not yet met before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.

Legacies are recognised when probate is granted and there is sufficient information to measure them. Where there is insufficient information to reliably measure any outstanding legacies, these are instead treated as contingent assets (and details of any such legacies will be disclosed in the notes to these financial statements).

Income relating to services provided in the course of undertaking direct charitable activities represents the value of services provided to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable.

Income from attendance of fundraising events is recognised when such events occur.

RESOURCES EXPENDED

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Charitable activity costs are the costs of fulfilling the objects of the charity. Governance costs are those incurred in connection with compliance with constitutional and statutory requirements.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property - 16.67% on cost and 5% on cost Office Equipment - 20% on cost Motor vehicles - 25% on reducing balance

Assets are included at cost and any capital expenditure less that £500 is not capitalised.

TAXATION

The company is a registered charity thus is exempt from corporation tax on its charitable activities.

Page 9

continued...

Worcester Wheels

Notes to the Financial Statements - continued for the Year Ended 31st March 2023

2. ACCOUNTING POLICIES - continued

FUND ACCOUNTING

General Funds are unrestricted funds which are available for the use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

PENSION COSTS

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

FINANCIAL INSTRUMENTS

The charity 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 when the charity becomes party to contractual provisions of the instrument.

Financial assets are offset, with the net amounts presented in the accounts where 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.

Basic Financial Assets

Basic financial assets, which include trade and other receivables 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.

Basic Financial Liabilities

Basic financial liabilities, including trade and other payables, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future receipts, discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of the operations from suppliers. Accounts 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 payables are recognised initially at transaction cost.

INVESTMENTS

The investment in the subsidiary company, Worcester Volunteer Centre Limited, is included at cost.

LEASING COMMITMENTS

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

3. DONATIONS AND LEGACIES

Donations
Legacies
Grants		 2023
£
7,451
10,094
43,547
61,092		 2022
£
2,748
25,000
30,058
57,806

Page 10

continued...

Worcester Wheels

Notes to the Financial Statements - continued for the Year Ended 31st March 2023

3. DONATIONS AND LEGACIES - continued

Grants received, included in the above, are as follows:

The Eveson Charitable Trust
National Lottery
Bernard Sunley Foundation
Worcester City Council
Asda Foundation
Gannet Foundation
Arnold Clark
Tesco
Newmedica
Waitrose
Droitwich Spa & Rural Council
Worcester Community Lottery
4.
OTHER TRADING ACTIVITIES
Income from fundraising events
5.
INVESTMENT INCOME
Bank interest
6.
INCOME FROM CHARITABLE ACTIVITIES
Fares
Membership fees
Service contracts
Grants
Sundry income
Grants received, included in the above, are as follows:
Worcester City Council
Worcester Community Transport Partnership
Department of Transport		 2023
£
25,000
10,000
5,000
-
2,000
1,047
-
-
500
-
-
-
43,547
2023
£
6,976
2023
£
1,933
2023
Charitable
Activities
£
127,709
140
225,519
42,004
159
395,531
2023
£
19,236
16,369
6,399
42,004		 2022
£
15,001
10,000
-
2,200
-
-
1,000
1,000
-
500
283
74
30,058
2022
£
1,768
2022
£
574
2022
Total
activities
£
122,271
1,420
170,980
40,011
1,969		 2022
£
15,001
10,000
-
2,200
-
-
1,000
1,000
-
500
283
74
30,058
336,651
2022
£
18,948
16,198
4,865
40,011

Page 11

continued...

Worcester Wheels

Notes to the Financial Statements - continued for the Year Ended 31st March 2023

7. CHARITABLE ACTIVITIES COSTS

7.
CHARITABLE ACTIVITIES COSTS
Direct
Support
Costs (see
costs (see
note 8)
note 9)
£
£
Charitable Activities
288,991
166,681
8.
DIRECT COSTS OF CHARITABLE ACTIVITIES
2023
£
Staff costs
130,133
Volunteer car drivers' reimbursements
22,385
Vehicle running costs
118,188
Volunteers' and staff expenses
6,144
Depreciation
12,141
288,991
9.
SUPPORT COSTS
Governance
Management
costs
£
£
Charitable Activities
161,379
5,302
Support costs, included in the above, are as follows:
MANAGEMENT
2023
Charitable
Activities
£
Wages
96,577
Social security
3,669
Pensions
2,227
Rent
15,160
Insurance
919
Electricity and water
5,659
Telephone
3,409
Postage and stationery
2,500
Advertising
1,150
Consultancy
300
Cleaning and maintenance
8,074
Training
1,720
Computer
6,703
DBS checks
737
Subscriptions
255
Office equipment rental
3,814
Bank charges
944
Sundry
841
Depreciation
6,721
161,379		 Totals
£
455,672
2022
£
119,261
19,440
79,648
2,756
16,815
237,920
Totals
£
166,681
2022
Total
activities
£
59,127
1,348
1,518
15,000
1,174
4,849
2,407
1,378
2,230
3,900
4,576
1,805
7,369
1,180
255
7,171
726
948
265
117,226

Page 12

continued...

Worcester Wheels

Notes to the Financial Statements - continued for the Year Ended 31st March 2023

9. SUPPORT COSTS - continued GOVERNANCE COSTS

SUPPORT COSTS - continued
GOVERNANCE COSTS
2023 2022
Charitable Total
Activities activities
£ £
Legal and professional fees 618 420
Bookkeeping 1,670 1,580
Independent examination costs 3,014 2,852
5,302 4,852

10. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2023 2022
£ £
Depreciation - owned assets 18,861 17,080
Independent examiner’s fee in respect of external scrutiny 2,430 2,310
Independent examiner's fee in respect of other assurance services 372 360
Independent examiner's fee in respect of other financial services 212 182
Rents paid under operating leases 23,780 23,700

11. TRUSTEES' REMUNERATION AND BENEFITS

During the year gross wages of £nil (2022 - £2,784) was paid to L McCall, a trustee of the charity, in respect of her role of staff member (and not in respect to her role as trustee), as permitted by the charity's Memorandum and Articles of Association.

TRUSTEES' EXPENSES

There were no trustees' expenses paid for the year ended 31st March 2023 nor for the year ended 31st March 2022.

12. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs		 2023
£
223,073
7,306
2,227
232,606		 2022
£
176,226
3,510
1,518
181,254

The average monthly number of employees during the year was as follows:

2023 2022
Employees 18 16

No employees received employee benefits (excluding employer pension and employer N.I. costs) of more than £60,000 in either the current or previous years.

Trustee remuneration

Total remuneration paid to trustees during the year in respect of their role as staff member (and not in respect to their roles as trustees) was £nil (2022 - £2,784).

Key management personnel

Total remuneration (including employer pension and employer N.I. costs) paid to key management personnel totalled £34,061 (2022 - £32,792).

Page 13

continued...

Worcester Wheels

Notes to the Financial Statements - continued for the Year Ended 31st March 2023

13.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
45,306
Charitable activities
Charitable Activities
336,651
Other trading activities
1,768
Investment income
574
Total
384,299
EXPENDITURE ON
Raising funds
1,238
Charitable activities
Charitable Activities
356,094
Total
357,332
NET INCOME
26,967
RECONCILIATION OF FUNDS
Total funds brought forward
326,055
TOTAL FUNDS CARRIED FORWARD
353,022
14.
TANGIBLE FIXED ASSETS
Improvements
to
Office
property
Equipment
£
£
COST
At 1st April 2022
-
2,204
Additions
101,264
4,908
Disposals
-
(312)
At 31st March 2023
101,264
6,800
DEPRECIATION
At 1st April 2022
-
964
Charge for year
5,863
857
Eliminated on disposal
-
(312)
At 31st March 2023
5,863
1,509
NET BOOK VALUE
At 31st March 2023
95,401
5,291
At 31st March 2022
-
1,240		 Restricted
funds
£
12,500
-
-
-
12,500
-
3,904
3,904
8,596
8,643
17,239
Motor
vehicles
£
238,123
-
-
238,123
189,562
12,141
-
201,703
36,420
48,561		 Total
funds
£
57,806
336,651
1,768
574
396,799
1,238
359,998
361,236
35,563
334,698
370,261
Totals
£
240,327
106,172
(312)
346,187
190,526
18,861
(312)
209,075
137,112
49,801		 Total
funds
£
57,806
336,651
1,768
574
396,799
1,238
359,998
361,236
35,563
334,698
370,261

Page 14

continued...

Worcester Wheels

Notes to the Financial Statements - continued for the Year Ended 31st March 2023

15. FIXED ASSET INVESTMENTS

15. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
MARKET VALUE
At 1st April 2022 and 31st March 2023 1
NET BOOK VALUE
At 31st March 2023 1
At 31st March 2022 1
The company's investments at the balance sheet date in the share capital of companies include the following:
Worcester Volunteer Centre Limited
Registered office: Unit 13, Checketts Lane Industrial Estate, Checketts Lane, Worcester, WR3 7JW
Nature of business: Dormant company
%
Class of share: holding
Ordinary £1 100
2023 2022
£ £
Aggregate capital and reserves 1 1
16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 39,793 30,260
Other debtors - 49
Prepayments and accrued income 18,552 60,608
58,345 90,917
17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 5,558 21,175
Social security and other taxes 195 -
Pension creditor 477 386
Accruals 4,772 11,715
Deferred income 1,068 -
12,070 33,276

Deferred income

Deferred income relates to service contract income received in advance of the period to which it relates.

Page 15

continued...

Worcester Wheels

Notes to the Financial Statements - continued for the Year Ended 31st March 2023

18. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

Within one year
Between one and five years		 2023
£
9,340
790
10,130		 2022
£
19,920
4,930
24,850

19. MOVEMENT IN FUNDS

At 1.4.22
£
Unrestricted funds
Unrestricted
353,022
Restricted funds
Minibus fund
3,231
PPE fund
3,508
Community Engagement Fund
10,500
Community Hub fund
-
Ramp fund
-
17,239
TOTAL FUNDS
370,261
Net movement in funds, included in the above are as follows:
Unrestricted funds
Unrestricted
Restricted funds
Minibus fund
PPE fund
Community Engagement Fund
Community Hub fund
Ramp fund
TOTAL FUNDS		 Net
movement
in funds
£
(15,314)
(1,854)
(3,508)
(10,500)
32,825
6,047
23,010
7,696
Incoming
resources
£
422,985
-
-
-
36,500
6,047
42,547
465,532		 Transfers
between
At
funds
31.3.23
£
£
6,047
343,755
-
1,377
-
-
-
-
-
32,825
(6,047)
-
(6,047)
34,202
-
377,957
Resources
Movement
expended
in funds
£
£
(438,299)
(15,314)
(1,854)
(1,854)
(3,508)
(3,508)
(10,500)
(10,500)
(3,675)
32,825
-
6,047
(19,537)
23,010
(457,836)
7,696		 At
31.3.23
£
343,755
1,377
-
-
32,825
-
34,202
377,957
23,010
7,696

Page 16

continued...

Worcester Wheels

Notes to the Financial Statements - continued for the Year Ended 31st March 2023

19. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
Unrestricted
Restricted funds
Minibus fund
PPE fund
Community Engagement Fund
TOTAL FUNDS		 At 1.4.21
£
326,055
2,080
8,039
(1,476)
8,643
334,698		 Net
movement
in funds
£
26,967
1,151
(1,735)
9,180
8,596
35,563		 At
31.3.22
£
353,022
3,231
6,304
7,704
17,239
370,261

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
Unrestricted
Restricted funds
Minibus fund
PPE fund
Community Engagement Fund
TOTAL FUNDS		 Incoming
resources
£
384,299
2,000
-
10,500
12,500
396,799		 Resources
Movement
expended
in funds
£
£
(357,332)
26,967
(849)
1,151
(1,735)
(1,735)
(1,320)
9,180
(3,904)
8,596
(361,236)
35,563		 Resources
Movement
expended
in funds
£
£
(357,332)
26,967
(849)
1,151
(1,735)
(1,735)
(1,320)
9,180
(3,904)
8,596
(361,236)
35,563
8,596
35,563

RESTRICTED FUNDS

Minibus Fund

The Minibus fund is restricted for the purpose of purchasing another minibus and minibus equipment.

PPE Fund

The PPE fund is restricted for the purpose of purchasing PPE and cleaning materials and equipment for the minibus.

Community Engagement Fund

The Community Engagement fund is restricted for the purpose of supporting the local community.

Community Hub Fund

The Community Hub fund is restricted for the purpose of funding various costs of setting up and running a community hub.

Ramp Fund

The Ramp fund is restricted for the purpose of installing an access ramp at the charity's premises.

TRANSFERS BETWEEN FUNDS

Restricted funds totalling £6,047 used to finance the purchase of amounts capitalised as tangible fixed assets have been transferred to unrestricted funds.

Page 17

continued...

Worcester Wheels

Notes to the Financial Statements - continued for the Year Ended 31st March 2023

20. RELATED PARTY DISCLOSURES

There were no related party balances or transactions to report.

21. PRIOR YEAR ADJUSTMENT

The comparatives have been amended to reallocate expenditure to the PPE fund that was previously to the reallocated to unrestricted fund totalling £1,476 incurred in 2021 and £1,320 incurred in 2022.

Page 18

Worcester Wheels

Detailed Statement of Financial Activities for the Year Ended 31st March 2023

Unrestricted
Restricted
funds
funds
£
£
INCOME AND ENDOWMENTS
Donations and legacies
Donations
7,451
-
Legacies
10,094
-
Grants
1,000
42,547
18,545
42,547
Other trading activities
Income from fundraising events
6,976
-
Investment income
Bank interest
1,933
-
Charitable activities
Fares
127,709
-
Membership fees
140
-
Service contracts
225,519
-
Grants
42,004
-
Sundry income
159
-
395,531
-
Total incoming resources
422,985
42,547
EXPENDITURE
Raising donations and legacies
Event costs
1,632
532
Charitable activities
Wages
126,496
-
Social security
3,637
-
Volunteer car drivers' reimbursements
22,385
-
Vehicle running costs
111,674
6,514
Volunteers' and staff expenses
2,748
3,396
Motor vehicles
12,141
-
279,081
9,910
Support costs
Management
Wages
88,764
7,813
Social security
3,669
-
Pensions
2,227
-
Rent
15,160
-
Insurance
919
-
Electricity and water
5,659
-
Telephone
3,409
-
Postage and stationery
2,405
95
Advertising
755
395
Consultancy
300
-
Carried forward
123,267
8,303		 2023
Total
funds
£
7,451
10,094
43,547
61,092
6,976
1,933
127,709
140
225,519
42,004
159
395,531
465,532
2,164
126,496
3,637
22,385
118,188
6,144
12,141
288,991
96,577
3,669
2,227
15,160
919
5,659
3,409
2,500
1,150
300
131,570		 2022
Total
funds
£
2,748
25,000
30,058
57,806
1,768
574
122,271
1,420
170,980
40,011
1,969
336,651
396,799
1,238
117,099
2,162
19,440
79,648
2,756
16,815
237,920
59,127
1,348
1,518
15,000
1,174
4,849
2,407
1,378
2,230
3,900
92,931

This page does not form part of the statutory financial statements

Page 19

Worcester Wheels

Detailed Statement of Financial Activities for the Year Ended 31st March 2023

Detailed Statement of Financial Activities
for the Year Ended 31st March 2023
Unrestricted
Restricted
funds
funds
£
£
Management
Brought forward
123,267
8,303
Cleaning and maintenance
7,282
792
Training
1,720
-
Computer
6,703
-
DBS checks
737
-
Subscriptions
255
-
Office equipment rental
3,814
-
Bank charges
944
-
Sundry
841
-
Improvements to property
5,863
-
Fixtures and fittings
858
-
152,284
9,095
Governance costs
Legal and professional fees
618
-
Bookkeeping
1,670
-
Independent examination costs
3,014
-
5,302
-
Total resources expended
438,299
19,537
Net income
(15,314)
23,010		 2023
Total
funds
£
131,570
8,074
1,720
6,703
737
255
3,814
944
841
5,863
858
161,379
618
1,670
3,014
5,302
457,836
7,696		 2022
Total
funds
£
92,931
4,576
1,805
7,369
1,180
255
7,171
726
948
-
265
117,226
420
1,580
2,852
4,852
361,236
35,563

This page does not form part of the statutory financial statements

Page 20