## **The Fellrunner Village Bus Limited**
**(A company limited by guarantee)**
## **Annual Report and Financial Statements**
## **31 December 2025**
**Company registration number: 03369311 Charity registration number: 1064593**
## **The Fellrunner Village Bus Limited**
## **Contents**
|Reference and Administrative Details|1|
|---|---|
|Trustees' report|2|
|Trustees' responsibilities in relation to the financial statements|5|
|Independent examiner's report|6|
|Statement of financial activities|7|
|Balance sheet|8|
|Notes to the financial statements|9|
## **The Fellrunner Village Bus Limited Reference and Administrative Details**
|**Charity name**|The Fellrunner Village|The Fellrunner Village|Bus Limited|
|---|---|---|---|
|**Charity registration number**|1064593|||
|**Company registration number**|03369311|||
|**Principal office**|Hopes Garage|||
||Salkeld Road|||
||Langwathby|||
||PENRITH|||
||CA10 1ND|||
|**Registered office**|Hopes Garage|||
||Salkeld Road|||
||Langwathby|||
||PENRITH|||
||CA10 1ND|||
|**Trustees**|K McGilloway, Chair||(Appointed 8 July 2025)|
||N R Hannah||(Resigned 19 January 2026)|
||J McGilloway|||
||C Randall||(Resigned 8 July 2025)|
||R Watt|||
||P Williams|||
||W M Thompson||(Appointment 1 January 2025)|
||||(Resigned 8 July 2025)|
||G M Sunderland||(Appointment 1 January 2025)|
|**Secretaries**|C Randall|(Resigned 8 July 2025)||
||K McGilloway|(Appointed 8 July 2025)||
||J M Leveson|(Appointed 19 January 2026)||
|**Accountant**|Dodd & Co Limited|||
||FIFTEEN Rosehill|||
||Montgomery Way|||
||Rosehill Estate|||
||CARLISLE|||
||CA1 2RW|||
Page 1
## **The Fellrunner Village Bus Limited**
## **Trustees' Report for the Year Ended 31 December 2025**
The trustees are pleased to present their annual report with the financial statements of the charity for the year ended 31 December 2025 which are also prepared to meet the requirements for a directors' report and accounts for Companies Act purposes.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 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.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Constitution**
The charity is constituted under a Memorandum and Articles of Association dated 17 July 1997.
The principal activity of the charity is to provide services linking Penrith and Carlisle to the Eden District villages.
## **Appointment of Trustees**
The management of the company is the responsibility of the trustees who are elected and co-opted under the terms of the Articles of Association.
Names of possible trustees are proposed by the current trustees and brought to a meeting of the directors for consideration at which a decision of appointment is made. All trustees stand down at the AGM and offer themselves for re-election. Experience, skills and appropriate personal qualities of such candidates are taken into account. Potential trustees are made fully aware of the aims and purpose for which the charity was established and must fully support the aims contained with the governing documents.
Trustees are provided with information made available by the Charities Commission that lay out the responsibilities of trustees, describes and clarifies legislation and ensures they are kept up to date with the charity sector.
## **Organisation structure and decision making**
Trustees’ meetings are held regularly and attended by all trustees to consider the current issues facing the charity.
## **Risk management**
The trustees have assessed the major risks to which the charity is exposed, in particular, those related to the operations and finances of the charity. The trustees are satisfied that systems and procedures are in place to mitigate exposure to major risks.
## **Public benefit**
The trustees confirm that they have complied with the duties in section 17 of the Charities Act 2011 to have due regard to the public benefit guidance.
## **OBJECTIVES AND ACTIVITIES**
## **Policies and objectives**
The principal objectives as set out in the Memorandum of Association are to promote any charitable purpose for the benefit of the area covered by the Fellrunner operations in the County of Cumbria. In particular the advancement of education, and relief or poverty, sickness, old age and distress through the provision of transport.
## **Activities for achieving objectives**
The charity operates bus services between Carlisle, Penrith and a number of local villages in the Eden District. This is the only source of transport for a large number of residents.
Page 2
## **The Fellrunner Village Bus Limited**
## **Trustees' Report for the Year Ended 31 December 2025**
## **ACHIEVEMENTS AND PERFORMANCE**
## **Review of activities**
Fellrunner Village Bus had a good year in 2025. It continued to provide services to passengers across the Eden Valley with just under 10,000 passenger journeys being completed on scheduled services and many more on private hire services and its programme of day excursions. Income reached a new record level of £138k in the year. This was aided by the crystallisation of major grant income (£25k), reflecting work done over several previous years and an exceptional gain (£30k) made on the sale of a bus (against its book value). Underlying revenue performance from bus operations was also strong (£32k), up 16% on prior year while private hire and excursion revenue (£24k) was up 40% year on year. Income from appeals and donations was also good (£16k) up by 23%. Costs were generally well controlled with total operating costs marginally down compared to prior year. Efforts to reduce the incidence of minor bodywork damage to the buses were successful, and resulted in maintenance costs being halved, which reduced overall costs below the level of 2025. Depreciation remains the charity’s largest single cost (£39k) and was up 5% on last year.
The net assets of the charity rose to £269k during the year, an increase of 21%. Fixed assets, in the form of the charity’s four buses, account for the vast majority of this (£181k). The charity has cash deposits of £85k but most of this is dedicated to the purchase of new buses (see below).
Funding replacement buses has always been challenging for Fellrunner, and it is pleasing to report that a new low floor bus, suitable for wheelchair users, was purchased during the year at a cost of circa £125k. This cost was partially offset by the sale of the old bus and then only made possible by the generosity of grant giving bodies over the years, notably Westmorland and Furness Council, Penrith Town Council, The Frieda Scott Trust, and The Hadfield Trust. The trustees wish to express their thanks to these organisations and also to the many smaller donors and parish councils, for their help in making the purchase possible. It is pleasing to report that the new bus was brought into service without delay and has proved popular with drivers and passengers alike. During the year Fellrunner strengthened its pool of qualified drivers and continues to invest in the training of its volunteers and, where possible, assisting other local community bus operators with their training needs.
## **PLANS FOR THE FUTURE**
## **Future developments**
Looking forward, Fellrunner is in a strong position with a larger and more modern fleet than ever before and with plans and resources to replace its oldest bus during 2026. The board has been reconstituted, and the volunteer numbers and skill sets are well matched to the challenges ahead. The board will actively manage the risks associated with local government changes, changes in funding arrangements, rising fuel prices, the introduction of an on-demand service in the area we serve and so on, and anticipates continuing to provide essential services for the rural population in the area well into the future. The trustees wish to thank all volunteers and Fellrunner supporters without whom this service could not exist.
## **FINANCIAL REVIEW**
## **Reserves policy**
The charity has developed a reserves policy whereby the trustees annually review the reserves held in its unrestricted budget, ensuring there are sufficient funds to meet known liabilities and maintain as healthy a balance as possible for contingencies.
The Fellrunner board have agreed a small change to the organisations reserves policy. The intention has always been that the organisation should have sufficient funds to enable it to survive without income for six months and that remains the position. Actual experience, during the COVID shutdowns, identified that when there is no revenue, variable costs, notably fuel, maintenance, drivers’ expenses etc also fall to zero very quickly. This leads to a lower level of general reserves with the balance being ring fenced for new bus purchases.
## **Review**
Total income for the year amounted to £137,917 (2024 - £90,636) with total expenditure being £87,556 (2024 - £90,601).
At the year end, unrestricted funds were £267,181 (2024 - £200,848) and restricted funds were £2,144 (2024 - £18,116). Free reserves at 31 December 2025 amounted to £85,873 (2024 - £88,138).
Page 3
## **The Fellrunner Village Bus Limited**
## **Trustees' Report for the Year Ended 31 December 2025**
## **Small company provisions**
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
Approved by the Board on 30 March 2026 and signed on its behalf by:
.........................................
K McGilloway Trustee
Page 4
## **The Fellrunner Village Bus Limited**
## **Trustees' Responsibilities in relation to the Financial Statements**
The trustees (who are also directors of The Fellrunner Village Bus Limited for the purposes of company law) are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and the Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
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 charitable company and of the incoming resources and application of resources, including income and expenditure, of the charitable company for that period. 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 charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 5
## **Independent Examiner's Report to the Trustees of**
## **The Fellrunner Village Bus Limited**
I report on the accounts of the company for the year ended 31 December 2025, which are set out on pages 7 to 18.
## **Respective responsibilities of trustees and examiner**
The trustees (who are also the directors of the company 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 as amended by the Charities Act 2022 (the Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under Part 16 of the Companies Act 2006 and is eligible for independent examination, it is my responsibility to:
- examine the accounts under section 145 of the Act;
- follow the procedures laid down in the General Directions given by the Charity Commission under section 145 (5) (b) of the Act; and
- state whether particular matters have come to my attention.
## **Basis of independent examiner's 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 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.
......................................... Martin Borradaile FCA Dodd & Co Limited Chartered Accountants 30 March 2026
FIFTEEN Rosehill Montgomery Way Rosehill Estate CARLISLE CA1 2RW
Page 6
## **The Fellrunner Village Bus Limited**
## **Statement of Financial Activities (including Income and Expenditure Account ) for the Year Ended 31 December 2025**
|**Note**
**Income and endowments from:**
Donations and legacies
2
Investments
3
Charitable activities
4
Total income and endowments
**Expenditure on:**
Charitable activities
Total expenditure
Net income before transfers
**Transfers**
Transfers between funds
Net movements in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward|**Unrestricted**
**Funds**
**£**
23,810
1,874
87,433|**Restricted**
**Funds**
**£**
24,800
-
-|**Total Funds**
**2025**
**£**
48,610
1,874
87,433|**Total Funds**
**2024**
**£**
43,916
1,665
45,055|
|---|---|---|---|---|
||113,117|24,800|137,917|90,636|
||86,584|972|87,556|90,601|
||86,584|972|87,556|90,601|
||26,533
39,800|23,828
(39,800)|50,361
-|35
-|
||66,333
200,848|(15,972)
18,116|50,361
218,964|35
218,929|
||267,181|2,144|269,325|218,964|
All of the Charity's activities derive from continuing operations during the above periods.
The notes on pages 9 to 18 form an integral part of these financial statements.
Page 7
## **The Fellrunner Village Bus Limited**
## **Company registration number: 03369311**
## **Balance Sheet as at 31 December 2025**
|**Note**
**Fixed assets**
Tangible assets
9
**Current assets**
Debtors
10
Cash at bank and in hand
**Creditors: Amounts falling due within**
**one year**
11
**Net current assets**
**Net assets**
**The funds of the charity:**
**Restricted funds**
**Unrestricted funds**
Unrestricted income funds
**Total charity funds**|**2025**
**£**
**£**
181,308
8,017
84,979
92,996
(4,979)
88,017
269,325
2,144
267,181
269,325|**2024**
**£**
**£**
112,710
8,527
104,486
113,013
(6,759)
106,254
218,964
18,116
200,848
218,964|**2024**
**£**
**£**
112,710
8,527
104,486
113,013
(6,759)
106,254
218,964
18,116
200,848
218,964|
|---|---|---|---|
||||218,964|
||||18,116
200,848|
||||218,964|
For the financial year ended 31 December 2025, the charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the Board on 30 March 2026 and signed on its behalf by:
.........................................
J McGilloway Trustee
The notes on pages 9 to 18 form an integral part of these financial statements.
Page 8
**The Fellrunner Village Bus Limited**
**Notes to the Financial Statements for the Year Ended 31 December 2025**
## **1 Accounting policies**
## **Summary of significant accounting policies and key accounting estimates**
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
## **Statement of compliance**
The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
## **Basis of preparation**
The charitable company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
## **Going concern**
These financial statements have been prepared on a going concern basis.
The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.
## **Fund accounting policy**
Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Designated funds are unrestricted funds set aside at the discretion of the trustees for specific purposes.
Further details of each fund are disclosed in note 14.
Page 9
## **The Fellrunner Village Bus Limited**
## **Notes to the Financial Statements for the Year Ended 31 December 2025**
## _......... continued_
## **Income and endowments**
Donations are recognised when the Charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the Charity before the Charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the Charity and it is probable that these conditions will be fulfilled in the reporting period.
Legacy gifts are recognised on a case by case basis following the grant of probate when the administor/executor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measured with a degree of reasonable accuracy and the title to the asset having been transferred to the Charity.
Income from Government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Investment income is recognised on a receivable basis.
Income from charitable activities includes income recognised as earned (as the related goods or services are provided) under contract.
## **Expenditure**
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## **Support costs**
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
## **Irrecoverable VAT**
Irrecoverable VAT is charged against the category of resources expended for which it was incurred.
## **Taxation**
The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## **Fixed assets**
Individual fixed assets costing £1000 or more are initially recorded at cost.
Page 10
**The Fellrunner Village Bus Limited**
## **Notes to the Financial Statements for the Year Ended 31 December 2025**
_......... continued_
## **Depreciation**
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Plant and machinery 15% reducing balance Motor vehicles 25% reducing balance Computer equipment 25% reducing balance
## **Trade Debtors**
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Charity will not be able to collect all amounts due according to the original terms of the receivables.
## **Cash and Cash Equivalents**
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
## **Liabilities**
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
## **Financial instruments**
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Charity after deducting all of its liabilities.
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the Charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the Charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the Charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
Page 11
**The Fellrunner Village Bus Limited**
## **Notes to the Financial Statements for the Year Ended 31 December 2025**
_......... continued_
## **2 Donations and legacies**
|**Donations and legacies**
Appeals and donations
**Grants**
Westmorland and Furness
BSOG fuel rebates
Penrith Town Council
The Frieda Scott Trust
The Hadfield Trust|**Unrestricted**
**Funds**
**£**
16,294|**Restricted**
**Funds**
**£**
-|**Total Funds**
**2025**
**£**
16,294|**Total Funds**
**2024**
**£**
13,213|
|---|---|---|---|---|
||-
4,516
3,000
-
-|4,800
-
-
15,000
5,000|4,800
4,516
3,000
15,000
5,000|21,900
5,803
3,000
-
-|
||7,516|24,800|32,316|30,703|
||23,810|24,800|48,610|43,916|
Of the donations and legacies income in 2024, £28,916 related to unrestricted funds and £15,000 related to restricted funds.
## **3 Investments**
|Interest on cash deposits|**Unrestricted**
**Funds**
**£**
1,874|**Restricted**
**Funds**
**£**
-|**Total Funds**
**2025**
**£**
1,874|**Total Funds**
**2024**
**£**
1,665|
|---|---|---|---|---|
All of the investment income in 2024 related to unrestricted funds.
## **4 Charitable activities**
|Operation of bus service
Private hire and excursions
Other
(Profit)/loss on sale of tangible fixed assets held
for charity's own use|**Unrestricted**
**Funds**
**£**
32,413
24,240
430
30,350|**Restricted**
**Funds**
**£**
-
-
-
-|**Total Funds**
**2025**
**£**
32,413
24,240
430
30,350|**Total Funds**
**2024**
**£**
27,817
17,238
-
-|
|---|---|---|---|---|
||87,433|-|87,433|45,055|
All of the income from charitable activities in 2024 related to unrestricted funds.
Page 12
**The Fellrunner Village Bus Limited**
**Notes to the Financial Statements for the Year Ended 31 December 2025**
_......... continued_
## **5 Expenditure**
|**Direct costs**
Training
Insurance
Sundry expenses
Drivers incidentals
Fuel
Garaging
Maintenance
Fleet safety inspections (inc RFL and ticketer)
Marketing
Excursion costs
Depreciation
**Support costs**
Phone and IT
Accountancy fees
Independent examiner's fee
Bank charges|**Operation of**
**bus service**
**£**
1,285
8,054
1,198
1,564
11,211
3,120
8,008
4,358
972
3,668
39,428|**Total**
**2025**
**£**
1,285
8,054
1,198
1,564
11,211
3,120
8,008
4,358
972
3,668
39,428|**Total**
**2024**
**£**
751
7,196
3,303
1,165
12,533
3,120
16,835
3,941
96
-
37,495|
|---|---|---|---|
||82,866|82,866|86,435|
||677
3,148
660
205|677
3,148
660
205|785
2,560
630
191|
||4,690|4,690|4,166|
||87,556|87,556|90,601|
All of the expenditure in 2024 related to unrestricted funds.
## **6 Governance costs**
|Accountancy fees
Independent examiner's fee|**2025**
**£**
3,348
660
4,008|**2024**
**£**
2,560
630|
|---|---|---|
|||3,190|
## **7 Trustees' remuneration and expenses**
During the year 4 trustees (2024 - 6) received reimbursement of expenses relating to roles other than as a trustee amounting to £777 (2024 - £567).
No trustees received reimbursement of expenses relating to their role as a trustee (2024 - 0).
Page 13
## **The Fellrunner Village Bus Limited**
## **Notes to the Financial Statements for the Year Ended 31 December 2025**
_......... continued_
## **8 Net income**
Net income is stated after charging/(crediting):
||**2025**|**2024**|
|---|---|---|
||**£**|**£**|
|Profit on disposal of tangible fixed assets|(30,350)|-|
|Depreciation of tangible fixed assets|39,428|37,495|
Page 14
## **The Fellrunner Village Bus Limited**
## **Notes to the Financial Statements for the Year Ended 31 December 2025**
_......... continued_
## **9 Tangible fixed assets**
|**Plant and**
**machinery**
**including motor**
**vehicles**
**£**
**Cost**
As at 1 January 2025
281,586
Additions
125,676
Disposals
(85,000)
As at 31 December 2025
322,262
**Depreciation**
As at 1 January 2025
169,193
Eliminated on disposals
(67,350)
Charge for the year
39,348
As at 31 December 2025
141,191
**Net book value**
As at 31 December 2025
181,071
As at 31 December 2024
112,393|**Computer**
**equipment**
**£**
1,373
-
-
1,373
1,056
-
80
1,136
237
317|**Total**
**£**
282,959
125,676
(85,000)|
|---|---|---|
|||323,635|
|||170,249
(67,350)
39,428|
|||142,327|
|||181,308|
|||112,710|
## **10 Debtors**
|Other debtors
Prepayments and accrued income|**2025**
**£**
3,386
4,631
8,017|**2024**
**£**
4,650
3,877|
|---|---|---|
|||8,527|
## **11 Creditors: Amounts falling due within one year**
|Other creditors
Accruals and deferred income|**2025**
**£**
744
4,235
4,979|**2024**
**£**
1,271
5,488|
|---|---|---|
|||6,759|
Page 15
## **The Fellrunner Village Bus Limited**
## **Notes to the Financial Statements for the Year Ended 31 December 2025**
_......... continued_
## **12 Members' liability**
The charity is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £10 towards the assets of the charity in the event of liquidation.
## **13 Related parties**
## **Controlling entity**
The charity is controlled by the trustees who are all directors of the company.
## **14 Analysis of funds**
|**Designated Funds**
Replacement bus fund
Fixed assets
**General Funds**
Unrestricted income fund
**Restricted Funds**
Replacement bus fund
Promotion and publicity|**At 1 January**
**2025**
**£**
60,000
112,710
172,710
28,138
15,000
3,116
18,116
218,964|**Incoming**
**resources**
**£**
-
-
-
113,117
24,800
-
24,800
137,917|**Resources**
**expended**
**£**
-
-
-
(86,584)
-
(972)
(972)
(87,556)|**Transfers**
**£**
13,373
68,598
81,971
(42,171)
(39,800)
-
(39,800)
-|**At 31**
**December**
**2025**
**£**
73,373
181,308|
|---|---|---|---|---|---|
||||||254,681|
||||||12,500|
||||||-
2,144|
||||||2,144|
||||||269,325|
New bus fund - funds designated towards the purchase of new buses.
Fixed assets - value of unrestricted fixed assets.
Replacement bus fund - is restricted for the purchase of a bus.
Promotion and publicity fund - this is restricted for the promotion of the charity.
Page 16
## **The Fellrunner Village Bus Limited**
## **Notes to the Financial Statements for the Year Ended 31 December 2025**
_......... continued_
## **Prior period**
|**Designated Funds**
Replacement bus fund
Fixed assets
**General Funds**
Unrestricted income fund
**Restricted Funds**
Replacement bus fund
Promotion and publicity|**At 1**
**January**
**2024**
**£**
40,000
150,205
190,205
25,608
-
3,116
3,116
218,929|**Incoming**
**resources**
**£**
-
-
-
75,636
15,000
-
15,000
90,636|**Resources**
**expended**
**£**
-
-
-
(90,601)
-
-
-
(90,601)|**Transfers**
**£**
20,000
(37,495)
(17,495)
17,495
-
-
-
-|**At 31**
**December**
**2024**
**£**
60,000
112,710|
|---|---|---|---|---|---|
||||||172,710|
||||||28,138|
||||||15,000
3,116|
||||||18,116|
||||||218,964|
## **15 Transfers**
A transfer of £39,800 has been made from restricted funds to unrestricted funds towards the purchase of a new bus. Once the asset was purchased the original restriction on the funds was met and the funds were therefore transferred to unrestricted, in line with the SORP.
A further transfer was made from the Replacement bus designated fund to unrestricted funds of £60,000 towards the purchase of the new bus.
A transfer of £68,598 was made from unrestricted funds to the Fixed assets designated fund. This is the net book value of the unrestricted fixed assets at the year end, the trustees believe this shows a fairer view of the charity's reserves position.
A final transfer was made of £73,373 from unrestricted funds to the Replacement bus designated fund towards future bus replacements.
Page 17
## **The Fellrunner Village Bus Limited**
## **Notes to the Financial Statements for the Year Ended 31 December 2025**
_......... continued_
## **16 Net assets by fund**
|Tangible assets
Current assets
Creditors: Amounts falling due
within one year
Net assets
**Prior period**
Tangible assets
Current assets
Creditors: Amounts falling due
within one year
Net assets||**Unrestricted**
**Funds**
**£**
181,308
90,852
(4,979)
267,181
**Unrestricted**
**Funds**
**£**
112,710
94,897
(6,759)
200,848||**Restricted**
**Funds**
**£**
-
2,144
-
2,144
**Restricted**
**Funds**
**£**
-
18,116
-
18,116||**Total Funds**
**2025**
**£**
181,308
92,996
(4,979)
269,325
**Total Funds**
**2024**
**£**
112,710
113,013
(6,759)
218,964||**Total Funds**
**2024**
**£**
112,710
113,013
(6,759)
218,964
**Total Funds**
**2023**
**£**
150,205
75,544
(6,820)|
|---|---|---|---|---|---|---|---|---|
||||||||||
||||||||||
|||||||||218,929|
Page 18