**Charity registration number 1060980**
**Company registration number 03323024 (England and Wales)**
## **WORCESTER WHEELS**
## **A COMPANY LIMITED BY GUARANTEE**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **WORCESTER WHEELS A COMPANY LIMITED BY GUARANTEE LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** Mr T Organ - Chair Mr R Auger (Treasurer) Mr G Heath Ms L S Mccall Mr J Irvine (Appointed 26 February 2025) Mrs A Preece (Appointed 26 February 2025) **Charity number** 1060980 **Company number** 03323024 **Principal address** Unit 13 Checketts Lane Industrial Estate Checketts Lane Worcester WR3 7JW **Registered office** Thorneloe House 25 Barbourne Road Worcester Worcestershire WR1 1RU **Independent examiner** Kendall Wadley LLP Granta Lodge 71 Graham Road Malvern Worcestershire WR14 2JS **Chief operating officer** Dormston Cook **Unity Trust Bank PLC** PO Box 7193 Planetary Road Willenhall WV1 9DG **Charity Bank** Fosse House 182 High Street Tonbridge TN9 1BE
## **WORCESTER WHEELS A COMPANY LIMITED BY GUARANTEE CONTENTS**
||**Page**|
|---|---|
|Trustees report|1 - 5|
|Statement of Trustees responsibilities|6|
|Independent examiner's report|7|
|Statement of financial activities|8|
|Balance sheet|9|
|Statement of cash flows|10|
|Notes to the financial statements|11 - 24|
## **WORCESTER WHEELS A COMPANY LIMITED BY GUARANTEE TRUSTEES REPORT (INCLUDING DIRECTOR'S 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 Charity's governing document, 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's objectives are specifically to promote any charitable purposes for the benefit of the community in the City of Worcester district and its neighbourhood. In particular, the advancement of education, the protection of health and the relief of poverty, distress and sickness, to provide transport facilities in the area of benefit for people who have special need of such facilities because they have mobility impairments, they are elderly, poor or disabled, children, people with young children or those living in isolated areas where there are no adequate public transport facilities.
The trustees seek to achieve these objectives through the following activities:
- the provision of a high quality, responsive, door to door transport/escort service (DAR) which takes account of individual service users' needs for transport wherever they need to go, to help them stay healthy, safe and remain socially active;
- taking vulnerable students to and from school/college to help them stay in education;
- a Friendship Hub providing social enrichment for up to 20 people, five days a week, including a hot meal;
- contracts with Worcestershire County Council and Worcester City Council to run community transport services;
- day trips for service users to local areas and venues of interest;
- collaboration with local businesses to provide transportation for customers who meet the criteria of the charity; and
- providing individuals with the opportunity to volunteer their time and skills to contribute to their local community.
The charity’s advertising strapline, first coined by a service user, says it all;
## **“NOT JUST A LIFT, A LIFELINE”**
- 1 -
## **WORCESTER WHEELS A COMPANY LIMITED BY GUARANTEE TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **Achievements and performance**
Once again, we have enjoyed a successful year of growth and further development of our operations. We had a broadly successful year of consolidation, meeting the demands placed on the charity by increasing numbers of service users. 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.
Our day trips, party events and Friendship Hub activities have proved very popular amongst our service users and have contributed to the increase in our Dial A Ride (DAR) activity.
We continued to pursue several grant applications and other fundraising activities. Later in the year a subcommittee was formed comprised of trustees and management, to support existing fundraising efforts.
Number of service users using the service in 2024-25 was 954, (2023: 24 879).
Number of new members enrolled in 2024/25 was 496, (2023: 24 461).
Volunteer Support:
||**2025**|**2024**|
|---|---|---|
|Drivers & PAs|47|39|
|Private Car Drivers|13|11|
|Administrative Support|7|7|
|Hub Support|8|5|
||-----------------------------------------------------||
|Total|75|62|
||-----------------------------------------------------||
In 2024-25 we travelled 314,498 miles (2023-24: 239,521 miles).
In 2024-25 the total passenger single journeys were 28,375 (2023-24: 23,754).
During the year a number of older vehicles were replaced with newer vehicles, and where possible smaller MPVs.
Later in the year we lost a contract to transport young adults to Branches in Leigh Sinton as a result of their strategic decision to create their own transport capability. In doing so they purchased one of our older vehicles.
As a growing charity the trustees made the decision to undertake a review of our Governance and appoint a Clerk to the Trustees to undertake this review, and implement changes as required. This project was conducted in parallel with retaining an HR consultant to review and update all our Policies and Procedures, and to provide an ‘on call’ service as required.
Following the year end information becoming available we established that our portacabin could only be sold for £14,500. Therefore, under FRS102 27.5 an adjustment of £30,139 was made to the accounts to recognise the impairment loss.
- 2 -
## **WORCESTER WHEELS A COMPANY LIMITED BY GUARANTEE TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **Financial review**
Total income received during the year was £930,523 compared to £717,998 last year, with the increase largely being due to the continued funding for Motability in the year.
Total expenditure has increased from £667,260 last year to £921,015 this year, with the increase being mainly due to increased wages and vehicle related costs.
At the year end the charity held unrestricted funds of £293,330 (2024: £333,485), of which £132,469 (2024: £174,145) was held as tangible fixed assets, leaving £160,861 (2024: £159,340) available funds. At the year end the charity held restricted funds of £144,873 (2024: £95,210).
## **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.
## **The Future**
In 2024 the Three Year Business Plan for the charity was updated for a further three years and adopted by the Board. The Board is confident in the future of the charity as available data suggest our demographic will continue to increase in numbers, thus maintaining the increase in demand experienced by the charity in recent years. This growth in turn creates stresses on the charity in terms of space for staff and vehicles, fundraising at higher levels and maintaining a sufficient number of volunteers to service demand.
## **Reserves Policy**
The Board aims to keep a reserve of unrestricted fund (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 unexpected expenditure. In such circumstances the charity could continue to operate as a going concern.
## **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 reelected 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.
New trustees also receive an induction session undertaken by the Chair and the Clerk to the Trustees. New trustees are asked to consider any potential conflict of interest and these are recorded as appropriate.
## **Structure, governance and management**
The Charity is a company limited by guarantee.
- 3 -
## **WORCESTER WHEELS A COMPANY LIMITED BY GUARANTEE TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
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:
Mr T Organ - Chair Mr R Auger (Treasurer) Mr G Heath Ms L S Mccall Mr P J Burgess (Resigned 30 September 2025) Mr J Irvine (Appointed 26 February 2025) Mrs A Preece (Appointed 26 February 2025)
## **Decision making**
The Board meets every three months. There is an Annual General Meeting organised each year to enable members and others to review activity. The Chief Operations Officer, Mr. Dormston Cook has delegated authority, under terms approved by the Board, for all day to day activity including, financial, employment and staff supervision. They report to the Board at each meeting.
## **Risk Assessment**
A formal Risk Register is maintained and reviewed at every Board meeting. This enables the trustees to review the risks to which the charity might be exposed, as identified by the trustees, and has established systems and procedures to manage those risks.
## **Organisation**
## **Volunteers**
At any one time the charity has approximately 75 volunteers providing their time, dedication, skill and experience, fulfilling vital roles right across the organisation. Their value is inestimable. The trustees, management and staff wholeheartedly thank them for their contribution.
## **Pay and Remuneration**
At the first Board meeting each calendar year the trustees discuss the pay levels of the management and key personnel, considering inflation, the roles performed, individual performance and market conditions. A decision is then made about pay adjustments. These decisions are communicated to the Chief Operations Officer.
## **Qualifying Third Party Indemnity Provisions**
The charitable company has made third party indemnity provisions for the benefit of its directors during the year and these provisions remain in force at the reporting date.
## **Trade Creditors**
The 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).
- 4 -
## **WORCESTER WHEELS A COMPANY LIMITED BY GUARANTEE TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
This policy is as follows:
- settle the terms of payment with suppliers when agreeing the terms of each transaction;
- ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in the contract; and
- pay in accordance with the company’s contractual and other legal obligations.
Trade creditors of the company at the year end were equivalent to 14 days purchases, based on the average daily amount invoiced by suppliers during the year.
## **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. The activities of the charity which provide public benefit are explained elsewhere.
## **Trustees**
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.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The Trustees report was approved by the Board of Trustees and signed on their behalf by:
Mr T Organ
## **Chair**
2 October 2025
- 5 -
## **WORCESTER WHEELS A COMPANY LIMITED BY GUARANTEE STATEMENT OF TRUSTEES RESPONSIBILITIES**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
The Trustees, who are also the directors of Worcester Wheels for the purpose of company law, are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company Law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.
The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
- 6 -
## **WORCESTER WHEELS A COMPANY LIMITED BY GUARANTEE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WORCESTER WHEELS**
I report to the Trustees on my examination of the financial statements of Worcester Wheels (the Charity) for the year ended 31 March 2025.
## **Responsibilities and basis of report**
As the Trustees of the Charity (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 (the 2006 Act).
Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England & 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:
- 1 accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
- 4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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.
E D Needham ACA CTA **Kendall Wadley LLP**
Granta Lodge 71 Graham Road Malvern Worcestershire WR14 2JS
Dated: 2 October 2025
- 7 -
## **WORCESTER WHEELS A COMPANY LIMITED BY GUARANTEE 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**
3,968
201,953
Charitable activities
**4**
704,247
-
Other trading
activities
**5**
1,753
-
Investments
**6**
4,768
-
Other income
**8**
13,834
-
**Total income**
728,570
201,953
**Expenditure on:**
**7**
Raising funds
**9**
-
2,055
Charitable activities
**10**
801,070
117,890
**Total expenditure**
801,070
119,945
Gross transfers
between funds
**17**
32,345
(32,345)
**Net (expenditure)/income**
**for the year/**
**Net movement in funds**
(40,155)
49,663
Fund balances at 1 April
2024
333,485
95,210
**Fund balances at 31**
**March 2025**
293,330
144,873|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2025**
**2024**
**2024**
**£**
**£**
**£**
205,921
10,248
171,056
704,247
531,863
-
1,753
1,373
-
4,768
3,458
-
13,834
-
-
930,523
546,942
171,056
2,055
1,509
761
918,960
612,516
52,474
921,015
614,025
53,235
-
56,813
(56,813)
9,508
(10,270)
61,008
428,695
343,755
34,202
438,203
333,485
95,210|**Total**
**2024**
**£**
181,304
531,863
1,373
3,458
-|
|---|---|---|
|Donations and
legacies
**3**
Charitable activities
**4**
Other trading
activities
**5**
Investments
**6**
Other income
**8**
**Total income**
**Expenditure on:**
**7**
Raising funds
**9**
Charitable activities
**10**
**Total expenditure**
Gross transfers
between funds
**17**
**Net (expenditure)/income**
**for the year/**
**Net movement in funds**
Fund balances at 1 April
2024
**Fund balances at 31**
**March 2025**|||
|||717,998|
|||2,270|
|||664,990|
|||667,260|
|||-|
|||50,738
377,957|
|||428,695|
- 8 -
## **WORCESTER WHEELS A COMPANY LIMITED BY GUARANTEE BALANCE SHEET**
## _**AS AT 31 MARCH 2025**_
|**Notes**
**Fixed assets**
Tangible assets
**18**
Investments
**19**
**Current assets**
Debtors
**20**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**21**
Net current assets
**Total net assets**
**Income funds**
Restricted funds
**23**
Unrestricted funds - general|**2025**
**£**
59,713
271,443
331,156
(25,423)|**£**
132,469
1
132,470
305,733
438,203
144,873
293,330
438,203|**2024**
**£**
57,007
217,229
274,236
(19,687)|**£**
174,145
1|
|---|---|---|---|---|
|||||174,146
254,549|
|||||428,695|
|||||95,210
333,485|
|||||428,695|
The charity is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006.
The trustees 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 entities subject to the small companies regime.
The financial statements were approved by the Trustees on 2 October 2025 and signed on their behalf by:
Mr T Organ **Chair**
## **Company registration number 03323024**
- 9 -
## **WORCESTER WHEELS A COMPANY LIMITED BY GUARANTEE STATEMENT OF CASH FLOWS**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
|**Notes**
**Cash flows from operating activities**
Cash generated from operations
**28**
**Investing activities**
Purchase of tangible fixed assets
Proceeds from disposal of tangible fixed
assets
Investment income received
**Net cash used in investing activities**
**Net increase in cash and cash equivalents**
Cash and cash equivalents at beginning of year
**Cash and cash equivalents at end of year**|**2025**
**£**
(32,345)
23,250
5,575|**£**
57,734
(3,520)
54,214
217,229
271,443|**2024**
**£**
(64,393)
1,000
3,458|**£**
82,595
(59,935)
22,660
194,569
217,229|
|---|---|---|---|---|
- 10 -
**WORCESTER WHEELS A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS**
_**FOR THE YEAR ENDED 31 MARCH 2025**_
## **1 Accounting policies**
## **Charity information**
Worcester Wheels is a private company limited by guarantee incorporated in England and Wales. The registered office is Thorneloe House, 25 Barbourne Road, Worcester, Worcestershire, WR1 1RU.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the Charity's Memorandum and Articles of Association, the Companies Act 2006 and the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) 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)" (effective 1 January 2019). The Charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. 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 Charity has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties about its ability to continue. 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.
## **1.4 Income**
Income is recognised when the Charity 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 Charity 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 Charity 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.
- 11 -
**WORCESTER WHEELS A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **1 Accounting policies**
**(Continued)**
## **1.5 Expenditure**
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.
## **1.6 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:
Leasehold improvements 16.67% on cost and 5% on cost Computers 20% on cost Motor vehicles 25% on 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.
## **1.7 Impairment of fixed assets**
At each reporting end date, the Charity 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.
## **1.9 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 in the Charity's balance sheet when the Charity 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.
## _**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.
- 12 -
**WORCESTER WHEELS A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
_**FOR THE YEAR ENDED 31 MARCH 2025**_
## **1 Accounting policies**
## **(Continued)**
## _**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 Charity’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 Charity 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 Charity’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.
The depreciation of our fixed assets is based on our judgements of their useful lives. Depreciation rates are detailed in note 1.6 and the carrying value of the assets is in note 16.
- 13 -
## **WORCESTER WHEELS A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **3 Donations and legacies**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**general**
**2025**
**2025**
**£**
**£**
Donations and gifts
3,968
-
Legacies receivable
-
-
Grants
-
201,953
3,968
201,953
**Grants**
Mobility Grant
-
167,103
Baron Davenport
-
-
Garfield Weston
-
-
Morrisons Grant
-
-
Community Hub Fund
-
970
Ramp Fund
-
500
Lottery
-
10,050
Eveson Trust
-
20,000
WCC for Hub
-
2,830
Co-Op
-
500
-
201,953|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**general**
**2025**
**2024**
**2024**
**£**
**£**
**£**
3,968
2,248
-
-
8,000
-
201,953
-
171,056
205,921
10,248
171,056
167,103
-
155,592
-
-
800
-
-
5,000
-
-
9,664
970
-
-
500
-
-
10,050
-
-
20,000
-
-
2,830
-
-
500
-
-
201,953
-
171,056|**Total**
**2024**
**£**
2,248
8,000
171,056|
|---|---|---|
|||181,304|
|||155,592
800
5,000
9,664
-
-
-
-
-
-|
|||171,056|
## **4 Charitable activities**
|Fares
Service contracts
Grants
Other income|**2025**
**£**
345,846
290,072
67,581
748
704,247|**2024**
**£**
228,333
240,527
55,666
7,337|
|---|---|---|
|||531,863|
- 14 -
## **WORCESTER WHEELS A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **5 Income from other trading activities**
|||**Unrestricted**|**Unrestricted**|
|---|---|---|---|
|||**funds**|**funds**|
|||**2025**|**2024**|
|||**£**|**£**|
||Fundraising events|1,753|1,373|
|**6**|**Income from investments**|||
|||**Unrestricted**|**Unrestricted**|
|||**funds**|**funds**|
|||**2025**|**2024**|
|||**£**|**£**|
||Interest receivable|4,768|3,458|
|**7**|**Grants**|**2025**|**2024**|
|||**£**|**£**|
||Worcestershire City Council Grant|29,265|26,685|
||Malvern Hills District Council Concessions|2,292|1,531|
||Worcester Transport Consortium Grants|19,751|17,301|
||Bus Service Operations Grant|16,273|8,756|
||Droitwich Spa & Rural Council Grant|-|1,393|
|||67,581|55,666|
|**8**|**Other income**|||
|||**Unrestricted**|**Unrestricted**|
|||**funds**|**funds**|
|||**2025**|**2024**|
|||**£**|**£**|
||Net gain on disposal of tangible fixed assets|13,834|-|
- 15 -
## **WORCESTER WHEELS A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **9 Raising funds**
|**Restricted**
**Unrestricted**
**Restricted**
**funds**
**funds**
**funds**
**general**
**2025**
**2024**
**2024**
**£**
**£**
**£**
Fundraising and publicity
Staging fundraising events
2,055
1,509
761
2,055
1,509
761|**Total**
**2024**
**£**
2,270|
|---|---|
||2,270|
## **10 Expenditure on charitable activities**
||**Charitable**|**Charitable**|
|---|---|---|
||**expenditure**|**expenditure**|
||**2025**|**2024**|
||**£**|**£**|
|**Direct costs**|||
|Staff costs|249,421|184,651|
|Depreciation and impairment|50,654|12,341|
|Volunteer car drivers' reimbursements|18,327|14,195|
|Vehicle running costs|212,057|179,967|
|Volunteer staff expenses|13,635|14,791|
|Vehicle hire|39,900|17,153|
||583,994|423,098|
|**Share of support and governance costs (see note 11)**|||
|Support|312,839|237,011|
|Governance|22,127|4,881|
||918,960|664,990|
|**Analysis by fund**|||
|Unrestricted funds|801,070|612,516|
|Restricted funds|117,890|52,474|
||918,960|664,990|
- 16 -
## **WORCESTER WHEELS A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **11 Support costs**
|Staff costs
Depreciation
Rent
Insurance
Electricity and water
Telephone
Postage and stationery
Advertisment
Cleaning and
maintenance
Training
Computer costs
DBC Checks
Subcriptions
Office equipment rental
Bank charges
Sundry expenses
Legal and professional
Bookkeeping
Independent examination
costs|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
212,865
-
13,951
-
32,007
-
2,238
-
10,905
-
5,138
-
3,017
-
1,717
-
6,122
-
5,204
-
13,843
-
722
-
390
-
630
-
1,943
-
2,147
-
-
16,253
-
2,041
-
3,833
312,839
22,127|**2025**
**£**
212,865
13,951
32,007
2,238
10,905
5,138
3,017
1,717
6,122
5,204
13,843
722
390
630
1,943
2,148
16,253
2,041
3,833
334,966|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
161,001
-
14,019
-
16,050
-
1,030
-
8,155
-
5,072
-
2,836
-
1,427
-
5,208
-
7,063
-
11,434
-
747
-
250
-
234
-
1,516
-
969
-
-
-
-
1,793
-
3,088
237,011
4,881|**2024**
**£**
161,001
14,019
16,050
1,030
8,155
5,072
2,836
1,427
5,208
7,063
11,434
747
250
234
1,516
969
-
1,793
3,088|
|---|---|---|---|---|
|||||241,892|
Governance costs includes payments to the auditors of £3,833 (2024 - £3,088) for audit fees.
|**12**|**Net movement in funds**|**2025**|**2024**|
|---|---|---|---|
|||**£**|**£**|
||The net movement in funds is stated after charging/(crediting):|||
||Depreciation of owned tangible fixed assets|34,466|26,360|
||Impairment of owned tangible fixed assets|30,139|-|
||Profit on disposal of tangible fixed assets|(13,834)|-|
||Operating lease charges|63,264|9,340|
## **13 Trustees**
None of the Trustees (or any persons connected with them) received any remuneration or benefits, or were reimbursed expenses from the Charity during the year.
- 17 -
## **WORCESTER WHEELS A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **14 Employees**
The average monthly number of employees during the year was:
|**Employment costs**
Wages and salaries
Social security costs
Other pension costs|**2025**
**Number**
28
**2025**
**£**
434,466
21,434
6,386
462,286|**2024**
**Number**
24|
|---|---|---|
|||**2024**
**£**
327,309
14,573
3,770|
|||345,652|
There were no employees whose annual remuneration was more than £60,000.
## **Remuneration of key management personnel**
The remuneration of key management personnel was as follows:
||**2025**|**2024**|
|---|---|---|
||**£**|**£**|
|Aggregate compensation|25,924|20,715|
## **15 Taxation**
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
## **16 Impairments**
Impairment tests have been carried out where appropriate and the following impairment losses have been recognised in profit or loss:
||**2025**|**2024**|
|---|---|---|
||**£**|**£**|
|In respect of:|||
|Leasehold improvements|30,139|-|
## **17 Transfers**
A transfer of £32,345 (2024: £56,813) was made from restricted to unrestricted funds for the purchase of tangible fixed assets.
- 18 -
## **WORCESTER WHEELS A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **18 Tangible fixed assets**
|**Leasehold**
**improvements**
**Computers Motor vehicles**
**£**
**£**
**£**
**Cost**
At 1 April 2024
108,844
6,800
280,941
Additions
-
-
32,345
Disposals
-
-
(85,124)
At 31 March 2025
108,844
6,800
228,162
**Depreciation and impairment**
At 1 April 2024
18,616
2,775
201,049
Depreciation charged in the year
12,753
1,198
20,515
Impairment losses
30,139
-
-
Eliminated in respect of disposals
-
-
(75,708)
At 31 March 2025
61,508
3,973
145,856
**Carrying amount**
At 31 March 2025
47,336
2,827
82,306
At 31 March 2024
90,228
4,025
79,892|**Total**
**£**
396,585
32,345
(85,124)
343,806
222,440
34,466
30,139
(75,708)
211,337
132,469
174,145|
|---|---|
More information on the impairment arising in the year is given in note 16.
## **19 Fixed asset investments**
||||**Other**|
|---|---|---|---|
||||**investments**|
||||**£**|
|**Cost or valuation**||||
|At 1 April 2024 & 31 March 2025|||1|
|**Carrying amount**||||
|At 31 March 2025|||1|
|At 31 March 2024|||1|
|||**2025**|**2024**|
|Other investments comprise:|**Notes**|**£**|**£**|
|Investments in subsidiaries|**27**|1|1|
- 19 -
## **WORCESTER WHEELS A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
|**20**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
Prepayments and accrued income
**21**
**Creditors: amounts falling due within one year**
Trade creditors
Other taxation and social security
Other creditors
Accruals
**22**
**Retirement benefit schemes**
**Defined contribution schemes**
Charge to profit or loss in respect of defined contribution schemes|**2025**
**£**
51,248
8,465
59,713
**2025**
**£**
5,113
12,578
574
7,158
25,423
**2025**
**£**
6,386|**2024**
**£**
36,519
20,488|
|---|---|---|
|||57,007|
|||**2024**
**£**
12,551
294
1,842
5,000|
|||19,687|
|||**2024**
**£**
3,770|
The Charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Charity in an independently administered fund.
- 20 -
## **WORCESTER WHEELS A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **23 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.
|**Balance at**
**1 April 2023**
**r**
**£**
Minibus Fund
1,377
WCC for Hub
-
Co-Op
-
Community Hub Fund
32,825
Ramp Fund
-
Motability Fund
-
Lottery
-
Eveson Trust
-
Garfield Weston Fund
-
Morrisons Foundation Grant
-
34,202|**Movement in funds**
**Incoming**
**esources**
**Resources**
**expended**
**£**
**£**
-
-
-
-
-
-
-
(13,895)
-
-
155,592
(33,740)
-
-
800
(800)
5,000
-
9,664
(4,800)
171,056
(53,235)|**Transfers**
**Balance at**
**1 April 2024**
**r**
**£**
**£**
-
1,377
-
-
-
-
-
18,930
-
-
(56,813)
65,039
-
-
-
-
-
5,000
-
4,864
(56,813)
95,210|**Movement in funds**
**Incoming**
**esources**
**Resources**
**expended**
**£**
**£**
-
(1,377)
2,830
(2,830)
500
-
970
(6,169)
500
(500)
167,103
(87,321)
10,050
(5,555)
20,000
(6,329)
-
(5,000)
-
(4,864)
201,953
(119,945)|**Transfers**
**Balance at**
**31 March 2025**
**£**
**£**
-
-
-
-
-
500
-
13,731
-
-
(32,345)
112,476
-
4,495
-
13,671
-
-
-
-
(32,345)
144,873|**Transfers**
**Balance at**
**31 March 2025**
**£**
**£**
-
-
-
-
-
500
-
13,731
-
-
(32,345)
112,476
-
4,495
-
13,671
-
-
-
-
(32,345)
144,873|
|---|---|---|---|---|---|
||||||144,873|
- 21 -
## **WORCESTER WHEELS A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **23 Restricted funds**
## **(Continued)**
## **Minibus Fund**
The Minibus fund is restricted for the purpose of purchasing another minibus and minibus equipment.
## **Eveson Trust**
Grant awarded to aid the posts of Hub Support Worker and Hub Kitchen Assistant.
## **Ramp Fund**
The Ramp fund is restricted for the purpose of installing an access ramp at the charity's premises.
## **Motability Fund**
The Mobility Fund is restricted to provide replacement vehicles, new leased vehicles and staff overheads and costs.
## **National Lottery Community Fund**
The National Lottery Fund is restricted for the purpose of operating costs and continued support towards the running of the community hub.
## **Garfield Weston Fund**
Garfield Weston fund is restricted for the purpose of operating costs.
## **Morrisons Community Fund**
This fund is for the purpose of purchasing a commercial kitchen and utensils for the friendship hub.
## **Business Growth Development Fund (WCC hub)**
This fund is for the improvement of heating efficiency in the hub.
- 22 -
_**FOR THE YEAR ENDED 31 MARCH 2025**_
## **WORCESTER WHEELS A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **24 Analysis of net assets between funds**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2025**
**2025**
**£**
**£**
**At 31 March 2025:**
Tangible assets
132,469
-
Investments
1
-
Current assets/(liabilities)
160,860
144,873
293,330
144,873
**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**£**
**£**
**At 31 March 2024:**
Tangible assets
174,145
-
Investments
1
-
Current assets/(liabilities)
159,339
95,210
333,485
95,210|**Total**
**2025**
**£**
132,469
1
305,733|
|---|---|
||438,203|
||**Total**
**2024**
**£**
174,145
1
254,549|
||428,695|
## **25 Operating lease commitments**
At the reporting end date the Charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
|Within one year
Between two and five years|**2025**
**£**
63,264
220,312
283,576|**2024**
**£**
63,264
283,576|
|---|---|---|
|||346,840|
## **Lessor**
The operating leases represent leases from third parties for the provision of motor vehicles. The leases are negotiated over terms of 5 years and rentals are fixed for the term of the lease. There are no options in place for either party to extend the lease terms.
## **26 Related party transactions**
There were no disclosable related party transactions during the year (2024 - none).
- 23 -
## **WORCESTER WHEELS A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **27 Subsidiaries**
Details of the Charity's subsidiaries at 31 March 2025 are as follows:
||**Name of undertaking**
**Registered**|**Nature of business**|**Class of**
**% Held**|**Class of**
**% Held**|
|---|---|---|---|---|
||**office**||**shares held**
**Direct **|**Indirect**|
||Worcester Volunteer Centre
England|Dormant|Ordinary
100.00||
||Limited||||
|**28**|**Cash generated from operations**||**2025**|**2024**|
||||**£**|**£**|
||Surplus for the year||9,508|50,738|
||Adjustments for:||||
||Investment income recognised in statement of financial activities||(5,575)|(3,458)|
||Gain on disposal of tangible fixed assets||(13,834)|-|
||Depreciation and impairment of tangible fixed assets||64,605|26,360|
||Movements in working capital:||||
||(Increase)/decrease in debtors||(2,706)|1,338|
||Increase in creditors||5,736|8,685|
||(Decrease) in deferred income||-|(1,068)|
||**Cash generated from operations**||57,734|82,595|
- 24 -