Charity Registration No.1069180
Company Registration No. 02922015 {England and Wales)
WEST NORFOLK COMMUNITY TRANSPORT PROJECT LIMITED
CONSOLIDATED ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

WEST NORFOLK COMMUNITY TRANSPORT PROJECT LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trusloes
Mr N C Smith
Mr P Brown
Mr K L Shayshutt
Mrs S M Fraser
Charlty number
1069180
Company number
02922015
Prlnclpal address
Unlt 7 & 8 Merchants Close
Oldmedow Road
Klng's Lynn
Norfolk
PE30 4JX
Reglstorod addre88
Unil 7 & 8 Merchants Close
Oldmedow Road
King's Lynn
Norfolk
PE30 4JX
Audltor
Mapus-srnlth & Lemmon LLP
48 King Str8el
King's Lynn
Norfolk
PE30 1HE
Bankorn
Lloyds Bank
3 North Bank
Wisbech
Cambridgeshire
PE13 IJT
Sollcltors
Ward Gethin Archer
10 Tuesday Market Place
Klng's Lynn
Norfolk
PE30 1JT

WEST NORFOLK COMMUNITY TRANSPORT PROJECT LIMITED
CONTENTS
Page
Trustae report
Statemènt of Trustge responsibilities
Independent audltorfs r8POrt
8-11
Consolldated statemènt of financlal a¢llvitles
12
Consolldated balance sheot
13
Consolid818d statement of c88h flow8
14
Notes to the flnanclal statements
15-34

WEST NORFOLK COMMUNITY TRANSPORT PROJECT LIMITED
TRUSTEE REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The Truste6s present thelr report and financial Statements for the year ended 31 March 2024.
The accounts have been prepared in accordance with the accounting policies sel out in note 1 to the accounts and
comply with West Norfolk Community Transport Project Limited governing document, the Charities Act 2011 and
the Statement of Recommended Practice applicable to charities preparing their accounts In accordance with th8
Financial Reportlng Standard appllcable in the UK and Republic of Ireland (FRS102) published on 16 July 2014.
WNCT is an incorporated organisalion which was set up on 101 February 2018. West Norfolk Community Transport
Project was established in 1994 as an incorporated charity.
ObJ8ctlvo8 and actlvltlos
The objects of the charity are to provide or assl$l In the provlslon of a passenger and goods transport servlce for
individuals who liv8 Wlthin and around the District Council areas of King's Lynn and West Norfolk, Breckland and
North Norfolk who by reason of their rural localion, age, poverty, sickness, mental or physical disability are
unable to use or have difficulty using public transport and for use by charitable organisations purposes of other
voluntary organisations.
The maln objective during the year continued to be the provislon of a pa8S8ng8r tran8POrt 88rvlce as noted in the
objeGts of the charity. Incomè raised from commlsslonedlconlract and olher projects provides subsidies for our
flagship 88rvlce8 of DSal A Bus and Shop Mobility and to soma extant m8dlcal transport.
Rovlew of ¢harltablè actlvStl•8 and achl8v8ment8 for the publlc boneflt
The Charfty's alm Is to provlde or asslst in th8 provision of a passenger and goods tr8nsport servlc8 for Indlvldu81s
who live within and around the District Council areas of King's Lynn and W85t Norfolk, Breckland and North Norfolk
who by reason of their rural location, age, poverty, sickness, mèntal or physical dlsabllily are unable to use or have
dlfficulty using public transport and for use by charitable organisatlons purpos8s of oth8r voluntary organisations.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what aclivilies the
charity should und8rtak8.
This provision is provided as per the services highlighted in the achlev8ments and perfomiance section as Set out
below..

WEST NORFOLK COMMUNITY TRANSPORT PROJECT LIMITED
TRUSTEES REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Achlevaments and performance
W851 Norfolk Community Transport Project Limited provid8d the following services during the year:
Dlal4-Bus: Demand-responsive door to door, rural and urban servlces aimed at increasing social inclusion
among people with mobility problems and rural isolation.
Group Hlre: A small amount of Group Hire took place during the year as thSrd-party organlsalions slowly
reslarted following the Covid pandémic.
Prlmary Healthcare.. Non-emergency transport Into rural and urban health centres and hospitals. In addition, w6
transported a number of passengers to vaccination centres - those joumeys were free of charge in the King's
Lynn urban area and a nominal fare was applied in oth8r area5.
Shopmoblllty: A sÉrviGe which provides manual and eleclrfc wheel chalrs, powered scooters and walklng alds
from St Jamès multi-slorey car park in the centre of town. The servic8 Int8gratès wèll wlth èxlsting transport
servlces.
Transport contract8: On behalf of Travel and Transport, Community Servlces and Chlldren's Servlces al the
County Council, we transport school childr8n and people wSth learning difficulties into schools and day s8rvic8S
and older people to day centre activities.
Voluntoer Car Drlvarn.. We endeavour to use our volunteer car drlvers for health and soclal wellbelng journey8,
this has proved to b8 8 very successful and heavlly used servlce.
Go to Town Sorvlce.. The trading subsldlary WNCT Ltd oparates public servlces routes accessing the towns of
Klng's Lynn, Swaffham, Wlsbech and Downham Market and a varl8ty of rural and other locatlons.
Flnanclal rovlaw
Rovlew of the flnanclal po8ltSon of th• Group and rgservos pollcy
The Charlty
Th8 y8ar to March 2024 h8s seen the current economic cllmate contlnu8 to put pressure on grant fundlng whlch
is available lo tha voluntary sector - however our statulory partners hav8 maintained our funding for this year
although the absence of any significant increases has, like prevlous years, reduced the values in real terms. We
shall be looklng for further commissioned work from all sectors as well as continuing to look for ways of conlrolling
operating costs as well as exploring new business opportunities.
We saw an increase in passenger numbers of 70/0 for our Dial a Bus Servlce compared to the previous financlal
year.
The presenl level of reserves held is £2,056,499 which includes £1.363.926 of tangible ass8ts and £370,628 in
cash reserves available lo use £2,051,482 of the reseNes held are categorised as unrestricted funds, £5,017 are
catègorlsèd as restricted funds.
It is the policy of tho charity that unrestricted funds which have not been doslgnated for a specific use should be
maintained at a16vel equivalent to six months, expenditure.
The trustees consider that reseN8s at this level will ensure that, in Ihe event of a significant drop in funding, they
will be able to continue the charity's current activities while consideration is given to ways in which additional funds
may be raised. This level of res6rves has been maintained throughout the year.

WEST NORFOLK COMMUNITY TRANSPORT PROJECT LIMITED
TRUSTEES REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Tradlng subsldlary
The year to March 2024 showed a steady increase In passenger numbers and levels had rlsen by 24P/& by the
end of the financial year. We are now actlV8 members of the Bus Service Improvemant plan managed by Norfolk
County Council and already have three agreed proposals up and running in Ihe year. The Norfolk County Council
funded £1.50 flat fare scheme for the Kings Lynn town area was implemented in August 2023 and has already
had a significant impact on increases in passenger numbers and revenue.
The present surplus is £59,697 whlch Includes £310,623 In cash reseNes avallable for use. Thas8 are
categorized as unrestricted funds.
Prlnclpal sources of Income and how oxpendltura maots objoctlvos
The prlnclpal sources of Income for the Charlty is that of income from bus routes for both the publlc and educatlon
se¢tor, as well a5 funding from the councils to maintain these routes. These sources of income have been used in
thè year lo support the key objectives of the Charity as outlined in this trustee's report.
Rlsk Managamant
The trustees have assessed the major rlsks to whlch th8 charlty Is 8xposed, and ar8 sallsfi8d that procedur&s
are in plac8 to mlllgate exposure lo the major risks.
The Trustees have a risk management rev18w whlch comprlses
a continuing review of the risks the Charlly may face.
the establishment of systems and procedures lo mlllgat8 those Identlfled rfsks and
the Implementation of procedures deslgn6d to mlnimise the Potential impact on th8 Charlty should those
sks materlalise.
Plans for the future
The Charity has Idenlified the followlng key targ8ts for th8 comlng y8ar:
All Oporatlon8- monitor increasing passenger numbers and review advertlslng and other methods of
stimulating this.
Dlal a Bus {DAB) - we are looklng to èxpand this vital service, particularly in rural areas, and improve efficiency
in terms of frequency, locatlons served and route planning thus enabling us to reduce the cost per passenger.
Go to Town- we are almlng to expand these service5 Operated by our subsidiary trading company.as they are
proving to bè very popular and we hope that Ihey will be able to generate income to help support other services
with passeng8r numb8rs returning to pre-covid levels.
Golng concern rovlow
The revenue from operating activities of the trading subsidiary has been historically inad8quat8 to cover the
running costs, as was the case during tho previous y8ar. In ord8r lo break èven the trading company requires a
sufficient level of commercial contracts for education as well as sufficient passenger numbers from commercial
routes, all which were affected in Covid years. In the 2024125 financial year we do expect trading io Improv8
compared with 2023124 and the financial performance so far to the dale of this report supports that view. W8
anticipate passenger numbers to continue to increase supported by national government initiatives aimed at
stlmulating growth in the bus sector to fulfil our going concern statement.
Structuro, govemance and management
Governlng Document
Th8 Charity Is a company Ilmited by guarantee govemed by its Memorandum and Articles of Association date 4
November 1996. It is registered as a Charity with the Charity Commission. A resolution was put to the members
at the 2015 AGM to updale the governing document.

WEST NORFOLK COMMUNITY TRANSPORT PROJECT LIMITED
TRUSTEES REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
WNCT Ltd is a private company limiled by shares incorporated in England and Wales. The registered office is
Unit 7 & 8 Merchants Close, Oldmedow Road, King's Lynn, Norfolk, PE30 4JX.
Trustees
The Trustees who served during the year were:
Charity
Mr N C Smllh
Mr P Brown
Mrs P French (deceased 17 D8cember 2023)
Mr K L Shayshutt
Ms S M Fraser
Incorporated Subsidiary- Dir8Ctors
Mr P Brown
Mr N C Smith
Appolntmant of new Trustees
All members are Invited lo nominate Trustees, together wlth nominatlons from the manag8m8nl t8am and the
existing Trustees. Those nominated and appointed are elected at the first AGM following 8ppointmenl.
None of th8 trust88s has any beneficlal Interest in the company. All Trustees are members of the company and
guarant88 to contribu18 £1 in th8 8V8nl of a winding up.
Trusteos Inductlon and tralnlng
When con51derlng nominalions of Twslees the requlremenl for any spe¢lallst skills needed aro reviewed.
Trusteès ar8 8ncour8g8d to att8nd appropriate external training events when these will facilitate the undertaking
of their role.
New Trusteès attend an 0ri8ntatlon m6elSng to brl8f them on th8lr18gal obligations under charity and company
law, the content of the Memorandum and Articles ofAssocialion, the various committees and declsion making
processed, the flnancial plan and recent flnancial p8rforman¢e of the charity. During this initial orientation
programme, they meet key employees and olher Trust8es.

WEST NORFOLK COMMUNITY TRANSPORT PROJECT LIMITED
TRUSTEES REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Organlsatlon
The prolect is administered by a committee containing up lo 12 and no lèss than 3 Trus188s and up to S co-opted
Trustees. This committee meets 6 times per year.
To facilitate effective operations the senior official and the management16am have delegated authority, within
t8rms of delegation approved by the Trustees, for operational mattars Includlng finance and employment. The
senior official to whom the day-to-day management of the charity in the year was dele98ted by the Trustee5 of
the charity was Peter Brown. The other members of thls management team were Natasha Hurley, Vanessa
Reeve, Wendy Knobbs, Nick Elvln and Kris Elmer.
Related partles
The project works in partnershlp wlth, and some of the proj8cI's services are partly funded by Norfolk County
Council, the Borough Council of Kings Lynn and West Norfolk, Norfolk & Waveney Integrated Car6 Board,
Cambrldg8shiré County Council and Breckland District Council. WNCTP also works in partnershlp with olh8r
schemes with slmilar objectives within Norfolk and bordering countles.
Th8 charlty staff conslsts of 30 drfvers {Includlng part-llme & rellefj and 3 pass8nger asslstanls. In addillon, 21
volunteer car drivers help us lo provlde our servlces. WNCT Ltd émploys 23 drivers, 2 supervisors, 1 workshop
co-ordinator, 3 workshop operatlv8s12 qualifi8d mechanlcs and 1 workshop support operatlvel and 2 bus
cleaners as part of the subsidiary op8rations.
WNCTP has a fleet of 24 mini-buses, 2 small vehlcles, 1 fleet support van, 8nd 1 Car oparatlng across West
Norfolk, South Norfolk, North Norfolk and Br&ckland. The project employed 8 Charity Man8g8r, a Head of
Finance and Admin and 6 other administration staff. WNCT has a flè8t of 19 bus88 and employs a General
Manager and a Transport Manager.
WNCTP operates satellite transport project5 which originated in th8 local communit188 and have a strong local
identity. In addStion to King's Lynn Dlal-a-Bus, thesa ar8 Dial-a-Bus In Swaffham and In Downham Mark91
providing serviees for the surrounding areas. WNCT ran the Flexibus services operating from Swaffham (thls
Contract ended in Sept8mb8r 2023) as w811 as running Ihe°Swaffham Flyerf, which started In 2014 when th8 n8W
Tesco stor8 was built in the town.
The charity set up a trading subsidiary, WNCT Llmited, In 2018 to develop commercial opportunlties. Two
trustees are directors of WNCT Lld.
Audltor
In accordance wlth the company's artlcles, a resolutlon proposlng that Mapus- Smlth & Lemmon LLP b8
reappoin18d as auditor of the company will be put at a General Meeting.
Dlsclosure of Informatlon to audltor
Each of the Trustees has confirmed that th8re is no information of which they are aware whiGh is relevant to the
audit, but of which th8 auditor is unaware. They have further confirmed that they have taken approprlate steps to
identlfy such relevant information and to establish that the auditor is aware of such information.

WEST NORFOLK COMMUNITY TRANSPORT PROJECT LIMITED
TRUSTEES REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
The Trustèè r8port was approved by the Board of Trusteès.
Mr N C Smith
Trustee
Dated:..11-11.- Lcl¥.........
Mr P Brown
Trustee
Dated:. I l.-. J.Z:Zy.Z*,.....

WEST NORFOLK COMMUNITY TRANSPORT PROJECT LIMITED
TRUSTEES RESPONSIBILITES
FOR THE YEAR ENDED 31 MARCH 2024
The trustees, who are also the dlrectors of West Norfolk Community Transport Project Limlted for the purpose of
ompany law, are responsible for preparing the Trustees, Report and Ihe financial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepled Accounting
Practice).
Company law requires Ihe trustees to prepara financial statements for each financial year which give a true and fair
vl8w of the state of affairs of the charity and of th8 incoming resources and application of resources, including the
income and expenditure, of Ihe charitable company for Ihal yaar.
In pr8paring th8S8 flnanclal statements, the trust88s are required to-
select sultabl8 accountlng policies and then apply thèm conslst8nlly',
observ8 th8 rn8thods and principles in the Charitles SORP.
make judgements and 8stlmales that are reasonable and prudent.
state whether applicable UK Accounting Standards have been followed, subj8Ct lo any materlal departures
disclosed and explained in th8 financial slalemenls,. and
prepare the financial statements on the golng concem basis unless It Is Inapproprlate to presume that the charlty
wlll ¢ontlnue In operation.
Th8 trustèes ar8 responsible for keeplng ad8quat8 accounllng r8cords that disclose wlth reasonable accuracy al any
tlme the flnanclal posltion of the charlty and enable Ih8m to 8nsur8 that the financ181 statements comply wllh th8
Companies Act 2006. They arè also responsible for safeguarding th6 assets of the Gharily and hence for taking
reasonable steps for the preventlon and detection of fraud and other Irregularllles.

WEST NORFOLK COMMUNITY TRANSPORT PROJECT LIMITED
INDEPENDENT AUDITOR'S REPORT
FOR THE YEAR ENDED 31 MARCH 2024
Oplnlon
We have audited the financial statements of West Norfolk Communlty Transport Project Limited (Ihe 'parent
charitable company,) and ils subsidiary (the "group") for th8 y8ar 8nded 31 March 2024 which comprisé the
consolidated statement of financial activities, the consolidated balance sheet, the consolidated statement of cash
flow5 and Ihe notes to the financial statements, including significant accounling policies. Th8 financial roporting
framework that has been applied in their preparation is applicable law and United Kingdom Accounts'ng Standards,
including FRS 102"Thg Flnancial Reporting Standard applicable in the UK and Republic of Ir81and ' (United Kingdom
Generally Accepted Accounting PraGtice}.
In our opinion, the financial statements..
give a true and falr view of th8 sta18 of th8 group's affairs and of th8 parent charltable company's affalrs 85 81
31 March 2024 and of the group's incoming re8ourc8s and application of resourcès, including it's Income and
expendlture for the year then ended.,
have been property prepared in accordanc8 wlth Unlted Kingdom G8n8rally A¢ceptgd Accounting Practica,.
and
have been prepared in accordanc8 with th8 r8quirem9nts of the Companies Act 2006.
Bas18 for oplnlon
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK}) and appllcable law.
Our responslbilitiès under those stsndards are further described in the Auditor's responslbllltl8s for tha audit of the
financial statemènts section of our report. We 8re independent of the group and the parent charitable company In
accordanc8 With th8 8thical requirements that are relevant to our audit of the financial statements in the UK, including
the FRC'S Ethical Standard, and we havè fulfilled our other elhical r9sponsibilities in accordance with these
requirements. We believe that the audit evidence we hav& obtained Is sufflclènt and appropriate to provide a basis
for our oplnion,
Con¢lu8lon• relatlng to golng concern
In auditing the financial stateménts, we have concluded that the trustees, use of the going concern basls of accountlng
In the preparatlon of the financial slat8m8nts is appfoprlate.
Based on the work we have p8rformod, wa hav8 not idéntified any material uncertainties relating to events or
conditions that, individually or coll8CtIV81y, may cast slgnificant doubt on the group and the parent charitable
ompany's gbility to continue as a going concem for a perlod of at 18ast tW81ve months from when the financial
statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees wlth respect to golng conc8m are descrlbèd In tho r8lavant
secllons of this report.
Other Informatlon
The other information compris8S th8 Informallon Included In the annual report other than the financial statements and
our auditols r8POrt theréon. The trustees are responsible for the other information contained within th8 annual report.
Our opinion on the financial statements does nol cover the other information and, except to the extent otherwise
explicilly stated in our report, We do not expr8ss any fom of assurance conclusion thereon. Our responsibilily is lo
read the other infomiation and, in doing so, consider whether the other information is materially in¢onsistenl with the
financial statements or our knowledge obtained in th8 course of the audit, or otherwise appears to be materi811y
misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to
determine whether this gives rise to a material misslatoment in the financial statements themselves. If, based on the
work we have performed, we conclude Ihat there is a material misstatem8nt of this oth8r Information, we are required
to report that fact.
We have nothing to report in this regard.

WEST NORFOLK COMMUNITY TRANSPORT PROJECT LIMITED
INDEPENDENT AUDITOR'S REPORT
FOR THE YEAR ENDED 31 MARCH 2024
Opinions on other matters prescrlbed by the Cornpanles Act 2006
In our opinion, based on tho work undertaken in the course of our audit..
the information glven In the trustees, report for the financial yearforwhich the financial statements are prepared,
which includes the dir6Ctors' report prepar8d for the purposes of company law, is consistent with the financial
staternents., and
Ihe directors, report included within the trustees, report has been pr8par8d In accordance with appllcable18gal
requirèments.
Matters on whlch we are raqulrèd to report by èxcéptlon
In the light of the knowl8dge and understanding of the group and the parent charitable company and ils environment
obtained in the cours6 of the audit, we have not identified material misstatements in the directors, report included
within the trustees, report.
W8 have nothlng to report In respect of the followlng matters In relatlon to which th8 Compani6s Act 2006 r8quir8S
us to r8POrt to you if, in our opinion..
Adequate accountlng records have nol been kept, or relurns adequate for our audit have not been recelved
from branches not vlsiled by us., or
the financial statements are not in agreement with the accounting records and r8turns,' or
C8rtaln dlsclosur8s of trustees, remuneration specified by law are not made., or
we have not received all the information and explanations we r8qulr8 for our audlt; or
thg trustees. were nol enlltled to prepare the flnanclal the flnanclal statements In accordanc8 wllh the small
companies règime and take advantage of the small companies, exemption in preparing the trustees, report and
from the r8quir8m8nt lo prèpare a Strategic report.
Respon81bllltles of trustees
As 8xplalnèd more fully in the statement of trustees, responslbllities, the trustees, who are also the directors of the
parent charitable company for the purpose of company law, are responslble for the preparation of the financi81
slalemenls and for b8ing satisfied that they give a true and fair view, and for such internal control as the truslees
determine is necessary to enable the preparatlon of flnanclal statements that are free from material misstatement,
whether due lo fraud or error. In preparing the financial statem8nts, the trusta6s are responslble for assessing the
group and the parent charitable company's ability to continu6 as a going concern, disclosing, as applicable, matters
related to going concern and using the going concern basis of accounllng unless the trusloes either intend lo liquidate
the group and the parent charitable company or to cease operations, or have no r8alisllc allernatlV8 bul to do so,
Auditor's responsibllltles for the audlt of the flnanclal staloments
Our objectives are to oblaln r8asonablé assurance about whether the financlal statements as a whole are free from
malerial misstatement, whether due to fraud or 8rror, and to issue an auditor's report that includes our opinion.
Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance
with ISAS IUKI will always detect a material misstatement when It exists. Misstatements can arise from fraud or error
and are considered malerial if, individually or in th8 aggr8gate, they could reasonably be axpecled to influence the
economic decisions of users taken on the basis of these financial statements
The exlent to which our procedures are capable of detecting irregularit18s, including fraud, is d8talled below

WEST NORFOLK COMMUNITY TRANSPORT PROJECT LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
The extent to which the audit was consldered capable of detecting irregularities includlng fraud
Our approach to identifying and assessing the risks of material misstatement in respect of irregularit16S,
including fraud and non-compliance with laws and regulations, was as follows..
the 8ngag8ment partner ensured that the engagemént team collectively had the appropriate competence,
capabilities and skills to identify or recognise non-compliance with applicable laws and regulations-
we identified the laws and regulations applicable to the group and the charitable parent company through
discussions with trustees and other management.
we focused on specific laws and regulations which we consid6r8d may have a direct material effect on the
flnanclal statements or the operations of the group and the parent charitable company, including the
Companies Act 2006, taxation legislatlon, and employm8nl legislation.
we ass8SS8d th8 extent of compliance with the laws and regulations identified above through maklng
enquiries of management and inspecting legal correspond6nce', and
id6ntified18ws and regulations were communicaled within the audit team règularfy and the team remained
alert to instances of non-compliance throughout the audlt.
We ass8ssed the susceptibility of the group and parent charltab18 company's financlal statements to material
misslat8ment, including obtaining an understanding of how fraud might occur, by-
maklng 8nqulrl8s of management as to where they conslderad th8r8 was susceptibility to fraud, thelr
knowledge of actual, suspected and alleged fraud,. and
considèring the Intemal controls in place to mitigate risks of fraud and non-compliance with laws and
r8gulallon8.
To address the risk offraud through management blas and ov8rrld8 of controls, we:
perform8d analytical procedures to Identlfy any unusual or unexpected relationships;
tested Journals to identify unusLtal transactions;
assessed whether ludgemenls and assumptions made In d8t8rmlnlng the accounting estimates were
Indicative of potential blas., and
Investlgat8d the ratlonale behind slgnificanl or unusual transactlons.
In responso to the rlsk of Irregularltl8s and non-compliance with laws and régulations, w8 designed procodures
whlch Included, but W8re not limited lo..
agreelng flnanclal slat8menl dlsclosures to underlylng supportlng docum8ntatlon',
reading thé minutés of m8&tings of those charged with governan¢e', and
enquiring of management 8S to actual and potential litigatlon and claims.
There are inherent limitations in our audit procedures described above. The morè r8mov8d that laws and regulations
are from financial transactions, the less likely it is that we would becomè aware of non-compliance. Auditing standards
also limit the audit procedur8s required lo Identify non-compliance wlth laws and regulalions lo enquiry of the trustee5
and olhar manag8rn8nl and the inspection of regulatory and 18gal correspondonce, if any. Malerial misstatements
that arise due to fraud can be harder to detect than those that arls8 from error as they may involve delibèrate
concealm8nl or collusion.
A further description of our responsibllilles for the audSt of the flnanclal statements Is localed on the Flnanclal
Reporting Council's website at.. https.'Ilwww.frc.org.ukJauditorsresponsibiSilies. This description forms part of our
auditovs report.
Use of our report
This report is made solely to the group and the chariiable parent company's members, as a body, In accordance with
Chapter 3 of Part 16 of the Companie5 Act 2006. Our audit work has been undertaken so that we might state to the
group and parent charitable company's members those matters we are required to state to them in an auditors. report
and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone
other than the group and the parent charitable company and the group and parent charitable company's members
as a body for our audit work, for this report, or for the opinion5 we have formed.
io

WEST NORFOLK COMMUNITY TRANSPORT PROJECT LIMITED
INDEPENDENT AUDITOR'S REPORT {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Jc
Sharon Edwards (Senlor Statutory Audltor}
for and on behalf of Mapus4mlth & Lemmon LLP
24 1120"
Chartered Accountants
statutory Audltor
48 King Street
Klng's Lynn
Norfolk
PE30 1 HE

WEST NORFOLK COMMUNITY TRANSPORT PROJECT LIMITED
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2024
Unrestricted Restricted
funds
funds
2024
2024
Total
Total
2024
2023
Not85
Donallons, Mèmberships, Funding & Grants
Income frorn contracts & bus fares
Other income
Interest reGelvable
331,413
2,257,312
30
331,413
403.155
2,257,312 2,255.338
30
476
2,074
70
2,074
Total Income r8celv8d
2,590,829
2,590,829 2,659,037
ndit
Charftable acllvltles
2.412,132
20,570 2,432,702
2,591,865
Taxation
Totsl ro•ource8 expended
2,412,132
20,570 2,432,702 2,591,865
Not {expèndlture)Ilncome for the yearl
Net movement In funds
178,697
{20,570)
158,127
67,172
Fund balances at 1 April 2023
1,778,373
25,587
1,803,960
1,736,788
Fund balances at 31 March 2024
1,957,070
5,017
1,962,087 1,803,960
The stslement of financial a¢tivitie5 Includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activlties.
12

WEST NORFOLK COMMUNITY TRANSPORT PROJECT LIMITED
CONSOLIDATED BALANCE SHEET
ASA T31 MARCH 2024
Group
2024
Group
2023
Charlty
2024
Charlty
2023
Note8
Flxed assets
Tangiblè a558ts
Investments
12
13
1,367,136
1,426,982
1,363,926
100
1,420,465
100
1,367,136
1,426,982
1,364,026
1,420,565
Current assets:
Debtor8
Cash at bank and In hand
15
413,535
681,251
382,366
587,360
654,215
370,628
941,983
40,812
1,094,786
969,726
1,024,843
982,795
Credltors: afflounts falllng due wlthln one
18
(326,0341
(401,094)
(158,568)
(253,6381
Not curronl a$sot8
768,752
568,632
866,275
729,159
Total assals lèss currènl liabilities
2,135,888
1,995,614
2,230,301
2,149,724
Credltors: amounts lalllng duo after more than
one year
19
(173,8021 (191,6541
1173,802)
(191.6541
Provlslons for Ilabllltles
20
Net a88et$
1,962,086
1,803,960
2,056,499
1,958,070
Income funds
R8Strict8d funds
Unrestricted funds
21
22
5,017
1.957.069
25,587
1,778,373
5,017
2,051,482
25,587
1,932.482
1,962.086
1,803,960
2,056,499
1,958,070
Th8 financial stat8m8nts were approved by the Trustees on ..j..7.-.1.L.-.l.￿..L1+
Mr P Brown
Trustoe
Company Registration No. 02922015
13

WEST NORFOLK COMMUNITY TRANSPORT PROJECT LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
Notè$
Cash flows from operatlng actlvltles
Cash generated from operations
Interest paid
Income taxes paid
Not cash Inflow from operaling activities
27
267,201
16,540)
143,268
14,300)
260,661
138,968
InveslSng actlvltlo8
Purchase of tangible fixed assets
Proceèds on disposal of tanglbla fixed
assets
Interest re¢elved
(93,434)
1175,5011
925
2074
35,220
70
Ngt cash u8ad In Inv88tlng actlvltlas
(90,435)
(140,2111
Flnanclng a¢tlvltle$
R8payrnent of bank loans
Payment of obllgatlons underflnanc818as8s
(20,373)
155,962)
(20,657>
(71,989)
N8t ca8h u88d In flnanclng actlvltles
(76,335)
192,646)
Not Incroaso In cash and ¢a$h oqulvalants
93,891
{93,889)
Cash and cash equlvalents at beginning of year
587,360
681,249
Cash and cash equlvalents at end of year
681,251
587,360
14

WEST NORFOLK COMMUNITY TRANSPORT PROJECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies
Charity Informatlon
Wesl Norfolk Community Transport Project Limited is a private company limited by guarantee incorporalad in
England and Wales. The registered office is Unit 7 & 8 Merchanls Clos8, Oldmedow Road, King's Lynn, Norfolk,
PE30 4JX.
1.1 Accountlng conventlon
The financial sla18menls have been prepared in accordance with the Charity's governing document, tho
Charities Act 2011 and "Accounting and Reporting by Charities.. Stalemonl of Recommended Practice
applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicab16
in the UK and Republic of Ireland (FRS 102)" las amended for accounting periods commencing from 1 January
20161. The Charity is a Public Benefit Enlity as defined by FRS 102.
The financial statements have departed from the Charities (Accounts and Reports} Regulations 2008 only lo
the extant required to provide a true and fair view. This departure has involved following th8 Slalement of
Recommend8d Practice for charilies applying FRS 102 rather than the version of the Slalemenl of
Recommended PractlC8 which is referred lo in the Regulations but which has sinco been withdrawn.
The financial slat6menls are prepared in sterling, which is the functional currency of the Group. Monetary
amounts in these financial slalements 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 Basls of accounting and consolidation
These financial statements consolidate th8 results of the parent Charity, il's incorporated subs5diary WNCT Ltd
(company number 11183094). The trading subsidiary is a private company limited shares, registered in England
and Wales.
A separate statement of financial activities is not presented for the Charity itS81f following the exemptions
available und8r the Charities SORP.
1.3 Going concern
The trustees consider that there are no material uncertainties about the Group's ability lo continue as a going
concern. Going concern has been discussed by the trustees in their annual report, and the Iruslees are
confident il will not affect the finances of the group lo such a d6gree that going concern is considered an issue.
The subsidiary generated a nel profil of £59,697 during the year ended 31 March 2024 and, as ofthal dale, the
company's current liabilities exceeded ils total assets by £94,313. Budgets prepared for the year ended 31
March 2025 also show an anlicipaled profil, and additional funding is nol expected to be required from the
parent company moving fomard.
The main liability of WNCT Ltd is that of the inlercompany balance owed lo the parent company. WNCT has
reduced the balance owed to the parent in the FY24 year. The parent company has agreed not lo request
repayment of the balance outstanding until WNCT has sufficient surplus funds lo do so.
The directors are conlinually reviewing route profitability of the bus services operated by WNCT Ltd and have
taken appropriate steps lo remove loss making routes to ensure that the company returns to a profil making
position. Many of the hir8 purchase agreements will cease for the buses rented by WNCT Ltd from the parent
company in 202412025. This will reduce the management charge in future years from the parent company.
Budgets have been prepared for the year ending 31 March 2025 which show an improved position for WNCT
Ltd. As a result of the above, the directors believe WNCT Ltd will return lo a net asset position within 2 to 3
years from the balance sheet dale.
15

WEST NORFOLK COMMUNITY TRANSPORT PROJECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accountlng pollcles cont.
1.3 Golng concern cont.
Overall the group made a surplus of £158,127 durlng the p8riod and has reserves of £1,962,086 on the
Balance Sheet.
The cash position of the group remains healthy and cashflows show Iherè is sufficlent funds avallable to
sustain the activities of the charity and the trading subsidiary for a period of at18ast 12 months from approval
of the Balance Sheet.
The Truste95 confirm it is appropriat8 for the financial statements lo b8 pr8pared on the going concern basi5,
1.4 Charltabla funds
Unreslricled funds are avallablè for us8 at the discretion of tha Trnstees In furth8rance of thelr charitable
objectives unles5 the funds hav8 b88n d8signat8d for other purposes.
The Charity has a restricted income fund to account for situations where a donor or grant provider requires that
8 donatlon or grant must be spent on a particular purpose or where funds have been raised for a partlcular
purpose. All other funds are unrestricted income funds.
D8signaled funds comprise funds which have b88n set aside at the discretion of the truslaes for speclfic
purposes. The purposes and uses of the designated funds are set out in the notes to the financial stalemenl8.
Endowment funds are sublecl to speclfic condlilons by donors that the capilal must be malntalned by the
charity.
1.5 Incomlng re8ourc•8
West Norfolk Communlty Transport ProJe¢t Llmltad
Income is r8cognis6d whèn th8 Charity is legally entitled to it after any parfonnance conditions have been
met, the amounts can be measured reliably, and it is probabl8 that Income will be received.
Cash donations are recognised on receipl. Other donations ar8 r8cognised once the Charity has bèan notified
of the donation, unless performance conditions require deferral of the amount. In¢ome tax récoverable In
r8lation to donations recelved under Glft Ald or d88ds of covenant Is recognised at the tlme of the donation.
Assets for dlslributlon are recognised only whgn distributed. Assets glven for use by the Charity are recognlsed
wh8n receivable. Slocks of undistrlbuted donat8d goods are not valued for balance sheet purposes.
Legacies are recognised on re¢8lPt or otheNi8e if the Charity hes bgen notified of an impending distribution,
the arnount is known, and r8celpt is expected. If the amount is not known, th818gacy18 treated as a contingent
assel.
Grant incom8 is recognised when the Charity is legally entitled to it after any performance conditions have bèen
met, the amounts can be measured reliably, and it is probable that income will be received.
16

WEST NORFOLK COMMUNITY TRANSPORT PROJECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accountlng pollclos cont.
1.5 Incomlng rasources conl.
WNCTLtd
Turnover is r8cognised at the fair value of the consideration received or racbivablè for goods and
seNices provided In the nomial course of busln8ss, and Is shown net of VAT and other sales r8lated
taxes. The fair valua of consld8ratlon tak8s Into account trad8 dlscounts, S8tt18m8nl discounts and
volum8 rèbat85,
When cash inflows are é8f8rred and represent a financing arrangement, the fair value of the
con5ider8tion is the present value of the future receipts. The difference be￿88n the fair value of the
consideration and the nominal amount received is recognised as interest income.
Revenuè from contracts for the provlslon of professlonal servl¢ès Is rècognlsèd by referencè to the stage
of completion when the stage of comp18tion, costs incurrgd and Gosts to complete Gan be estimated
r8llably. Thg stage of complètlon Is calculated by comparing costs Incurr8d, malnly In relatlon to
contractual hourly staff rates and materlals, as a proportlon of total cosls. Where the outcome cannot be
estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable
will be recovergd.
1.6 Rosources expended
Expenditure Is recognlsed wh8n a Ilablllty Is Incurrèd, Contractual arrangements and perfom8nce
r8lal8d grants are recognls8d as goods or servlc8s ara supplled. Olh8r grant paym8nts ar8 r8cognlsed
when a constructive obligation arises that results in the payment being unavoidable.
Costs of g8nerating funds are thos8 Costs Incurred In tradlng acllvlties that r81s8 funds.
Charitabl8 activlties are those costs incurr8d by the charity In m8èllng Its charitable ob}ectlves.
Governance costs Include those Incurred In the governance of the Charfty and Its assets and
are prlmarlly assoclaled wlth the ¢onstitullonal and statutory requlrements.
1.7 Tanglble flxod assots
Tangiblè fixed assets are initially measured at Cost and subsequently measured at cost or valuation, net
of depreciation and any impairment losses. Donatèd tangible fixed assèts which do not havè a cost to
the Charfty are capltallsed at Ihelr current value at the date of donatlon.
Depreciation is provided at rates calculated to writs off the cost less estimated residual value of each
asset over ils expected useful life, as follows..
Buildings
No depreciation is charged on the basis that any charge
would be immaterial due to the residual value of the as8el
200/0 reducing balance basis
250/0 reducing balance basis
100/0 on delivery on now vehicles, followed by 10 years
straight line for minibuses, and 15 years straight line for
PSV Buses.
Bus and Shopmobility equipment
Office equipment
Motor vehides
Plant and equipment - WNCT
25°A reducing balanc8 basis
The gain or loss arising on the disposal of an asset is determined as the difference be￿QOn the sal8
proceeds and the carrying value of the asset and is recognised in net incomel{expenditure) for the
year.
17

WEST NORFOLK COMMUNITY TRANSPORT PROJECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accountlng policies cont.
1.8 Impalmiant of fixed assets
Al each reporting end dale, the charity reviews thè carrying amounts of its tangible assets lo determine
whether there is any indication that those assets havè suffered an impairment loss. If any such
indication exists, the recoverable amount of th8 ass&1 is estimated in order to determin6 the extent of
the impaimienl loss {if any).
1.9 Cash and cash oqulvalents
Cash and cash equivalents include cash in hand, deposits held at C811 with banks, other short-lemi liquid
invèstments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are
shown withln borrowings in current liabillties.
1.10 Flnanclal Instruments
The Charlly has el8Ct8d to apply the provlsions of Sacllon 11 'Basic Financial Instruments, and Sectlon
12 '01her Financlal Instruments Issues, of FRS 102 to all of Its financial instrumanls.
FinancSal instruments are recognised in the Charity's balance sheet when the Charfty becomes party to
the contractual provisions of the instrument.
Financial assets and Ilabilitl8s are offset, with the nèt amounts presented in the financlal statements,
when there is a legally enforceable right to sel off the recognised amounts and th8r8 Is an Intention to
settle on a net basls or to realise the ass8t and s8tt18 the liabillty slmult8n8ously.
8aslc flnanclal assets
Baslc financial assets, whlch Include d8btors and cash and bank balancos, are Initially measured al
transaction price Including transaction costs and are subsequently carri8d at amortised cost uslng the
8ff&ctive interest method un18SS the arrangemgnl constitutes a flnancing transaction, wh8r8 th8
transaclion is measuréd al th8 present value of the futur8 receipts discounted at a market rat8 of interest.
Financial assets classified as recelvable within one year are not amortised.
Baslc financlal Ilabllltles
Basic financial liabilities, including creditors and bank loans are initially r8cognised at transaction price
unless the arrangement constitutes a Inancing transaction, where tho debt Instrument is measured al
th8 present value of the future payments discounted at a market rate of interesl. Financial liabilities
classified as payable within one year are not amortised.
Derecognltion of financial Ilabllltles
Financial liabilities are derecognised when the Charity's contractual obligations expire or are dlscharged
or cancelled.
1.11 Employèe beneflts
The cost of any unused holiday entitlement is re¢ognised in Ihe period in which the employ8e's services are
received.
Termination benefits are recognised immediately as an expense when the Charity Is demonstrably committed
to teminate th8 employment of an employee or to provide temiination benefils.
1.12 Retirèment beneflts
Payments to defined contribution retirement benefit schemes are charged as an expènse as they fall due.
18

WEST NORFOLK COMMUNITY TRANSPORT PROJECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accountlng pollcles cont.
1.13 Taxatlon
WNCT Limited
The lax expense represents the sum of the lax currently payable and deferred lax.
Current tax
Th8 lax currently payable is based on taxable profit for th8 year. Taxabl8 profil dlff8rs from net profit as report8d
in Ihe profit and loss account because it excludes items of income or expense that ar8 taxable or deductible in
other years and it further excludes items that are never taxable or deductible. The company's liability for current
tax is calculated using lax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred lax liabilities are generally recognised for all liming differences and deferred tax assets are ￿CognISed
lo the extent that it is probable that they wlll be recovered against the reversal of deferrèd tax Ilabilltles or other
future taxablè profits. Such assets and Ilabilili8s are not recognised if the liming differènce arls8s frorn goodwlll
or from the initial r8cognition of oth8r ass8ts and liabiliti8s in a transaction that affects n8lther th8 tax profil nor
th& accounting profit.
The carylng amount of deferred tax assets Is revlewed at each reportlng end date and reduced lo the exlent
thal it is no longer probable thal sufficient taxable profits will be available to allow all or part of the asset lo be
covered. Defer￿d lax is calculated al the lax rates Ihal are expected lo apply in the period when Ihe liabillty
IS Settled or tha assét is réallsad. 08f8rrèd lax is chargéd or crèdi18d in the profit and loss account, 8xc8pI
when It relates to items charged or credlted dlreclly to equlty, In whlch case the d8ferred tax Is also dealt wllh
in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to
offset current lax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the
same tax authority.
1.14 Provlslons
Provisions 8re recognised when tha charity has a lègal or constructive pres8nt obligation as 8 result of a past
event, il Is probable that the charlly wlll be requiréd to settle that obligation and a réliable estlmate can b8
made of the amount of the oblSgatlon.
The amount recognised as a provision is the be81 estimale of the consideration required to settle the present
obligation al the reporting end dale, taking into 8ccount the risks and uncertainties surrounding the obligation.
Where the effect of Ihe time value of money 15 material, Ihe amount expected lo be required lo settle the
obligation is recognised at prgsent value. When a provision is measur9d at present value, the unwinding of
the discount is rècognised as a finance cost in net incomel(expenditure) in the period in which it arises.
1.15 Loases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and
rewards of ownership lo the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of Ihe assets fair value at the date of
inception and the present value of the minimum lease payments. The re18ted liability is included in the
balance sheet as a finance lease obligation. Lease paymenls are treated as consisting of capital and interest
elèm8nts. Th8 intèrest is charg8d to n81 incomell8XP8nditure) for the yèar so as to produc8 a constant
periodic rate of inl8r8st on th8 remaining balanc8 of the liability.
Rentals payable under operating leases, Includlng any lease incentives received, are charged as an
expense on a straighl-line basis over the term of the r81evanl18ase.
1.16 Governmenl grants
Government grants are r8cognisad at the fair value of the ass8t received or receivable when there is reasonable
assurance that the grant conditions will be mel and the grants will be received. A grant thal specifies
performance conditions is recognised in income when the performance conditions are met. Where a grant does
not specify perfomance conditions it is recognised in income when the proceeds are received or receivable. A
grant received before the recognition criteria are satisfied is recognised as a liability.
19

WEST NORFOLK COMMUNITY TRANSPORT PROJECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accountlng policle$ cont.
1.17 Critical accounting éstlmatès and Judgéménts
In the application of the chaTIty'5 accountlng policies, the Iruslees are required to make judgements,
estim8tes and assumptions about the carying amounl 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 consSdered to be r818vanl. Actual r8sults may diff8r from these estimatès.
Tha 8StSmates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
eslimales are recognised in the period in which the estimate is revisèd whère tha revision affects only that
period, or in the period of the revision and future periods where the revlslon affects both current and future
periods.
20

WEST NORFOLK COMMUNITY TRANSPORT PROJECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Donatlons, Membarshlpi Fundlng & Grants
Unrestrlctsd Restrlcted
funds
funds
Total
Total
2024
2024
2024
2023
Donations and gifts
Legacies recaivable
Fundin9 & grants
M8mb8rship f88S
1.126
1,126
5,155
329,092
1,195
329,092
1.195
397,490
510
331,413
331.413
607,101
Donallons and glfts
Maln Prolect donations recelvèd
Shopmob donations
1.126
1.126
5,137
18
1,126
1,126
5,155
Grants rocelvable for cora actlvltlos
Norfolk Health Authority
Shopmobility- B.C.K.L.W.N
LoGal restricllons support grants
Travel & Transport S8rvsC88- NCC
Dlal A Bus Scheme - B.C.K.L.W.N
CBSSG LTA and Natlonal fundlng
B.C.K.L.W.N- Medical bus grant
B.C.K.L.W.N. Eleclrlc bus grant
Swaffham - Includlng NCC & Breckland councll
funding
26,471
24,988
79,263
99,081
64,689
26,471
24,988
79,263
99,081
64,689
26,014
24,988
130,855
99,081
64,689
15,700
30,000
30,000
31,763
4,600
4,600
4,400
329,092
329,092
397,490
3 Incomo from contracts & bus farg3
Bus faros
Contracts
Total
Charlty
WNCT Ltd Charlty
WNCT Ltd Group
2024
Total
Group
2023
Income from contracts and bus
fares
62,087
668,929
686,825
839,471 2,257.312 2,255,336
21

WEST NORFOLK COMMUNITY TRANSPORT PROJECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
4 Other incomè- Tradlng
Unrestrlcted
funds
Charity
2024
Total
2023
Other Income
30
476
5 Interest recelvable
Unro8trlclad
funds
Charlty
Total
2024
2023
Interest re¢elvable
2,074
70
22

WEST NORFOLK COMMUNITY TRANSPORT PROJECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
6 Charitable actlvltles
C08t of Cost of
Cost of
operatlons operatlons at operatlons
at Main
Swaffliam
atGoTo
ProJ6cl
Town
(WNCT Ltd
Total for
2024
Tolal for
2023
2024
2024
2024
Slaff costs Inc redundancy
Depreciation and impairment
Trav&1 expènditure
Insurance
Private trav91 arrangements
Vehicle rental
Vehicle equipm8nt renlal
Vehicle fuel
Vèhlclè malnlènance
Llcences
Equipment maintenance
Training
Unifomis
Vehlcle cleanlng costs
Bus ststion bay rental
Profil and loss on Sale of
assets
610.149
144,534
12,424
43,400
65,225
742,474
1,417,848
144,534
12,424
120,502
97
75,557
32,284
233,204
140,474
1,369,422
118,485
14,058
118,014
1,252
72,459
31,627
355,419
207,363
77,102
97
75,557
32,284
179,715
53,489
140,474
3,783
26,931
6,573
1,420
3,282
7,065
27,146
11,834
3,015
7,793
14,960
6,090
7,691
29,455
11,237
3,498
18,370
14,960
32,717
215
5,261
1,572
7,793
14,960
2,560
23
3,530
1 122 264
1067 100
2 254 827
2 406 027
Share of support costs (see
note 7}
Shara of govemanc8 costs
(s88 not8 71
129,214
2,240
26,336
157,790
165,763
11,625
8,460
20,085
20,075
1,263,103
67,703 1,101,896
2,432,702
2,591,865
Analysls by fund
Unrèstrlctèd funds
Restrlcted funds
1,242,533
20,570
67,703 1,101,896
2,412,132
20,570
2,565,539
26,326
1,263,103
87,703 1,101,896
2.432.702
2,591,865
For the year ended 31 March 2023
Unrestricted funds
1,215,123
Restricted funds
26.326
95,543 1.254,873
2,565,539
26,326
1,241,449
95,543 1,254,873
2,591,865
23

WEST NORFOLK COMMUNITY TRANSPORT PROJECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Support costs
Support Governanca
costs
costs
2024
2023
R8crultm6nt and other staff costs
Depreciation
Depreclatlon- WNCT Ltd
Operating lease charges
Telephone, postag8 & stationary {combined)
Computer mainlenance
Rent & premises expénses
Sundry- inc bad debt write off and covid compliance
Bank charges & financ8 costs
Bank charges & finance costs- WNCT Ltd
Credit card charges
Legal & prof8sslonal fees {comblned}
Markating {combin8dl
Shopmobility management & administration costs
Swaffham & Flexlbus management & admlnlstratlon
costs
4,514
747
18,483
20,094
422
47,193
8,459
1,456
9,266
6.640
11,317
26,519
440
4,514
747
18,483
20,094
422
47,193
8,459
1,456
9,266
8,640
11,317
26,519
440
3,593
1,727
21,162
23,526
1,295
33,799
9,415
2,388
7,308
6,305
40,440
12,075
279
2,240
2,240
2,451
Audlt fees (see nole below for WNCT Ltd spllt)
20,085
20,085
20,075
157,790
20,085
177,875
185,838
Analysed belween
Charitable activitigs
157,790
20,085
177,875
185,838
Govérnance costs includes payments to the auditors of £17,76012023 - £16,400) for 8udlt fees. £6,76012023 -
£5,400) relates to the trading subsidiary, WNCT Ltd.
Taxatlon
Group
2024
Group
2023
Charlty
2024
Charlty
2023
UK Corporation lax charge on profit for the
year
D8f8rred tax charge on origination and
reversal of timing differences
24

WEST NORFOLK COMMUNITY TRANSPORT PROJECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Trustèes
None of the trustees {or any persons connected with th8m) othér Ihan s8t out bèlow r8C8ived any
remuneration during the year. but 2 of them were reimburs8d a total of £740 travelling expenses12023 - 2
wa5 reimbursed a total of £1,375).
Durlng the year. the followlng remunaratlon was paid to the following trustees or those closely connéctèd lo
trust8es-
P818r Brown - consultancy servic@s £0 {2023 - £30,000)
Wesl Norfolk Pest Control Limited - pest control £900 (2023 - £900) - this business is owned
by the son of Peter Brown
The above arrangement with Peter Brown had been extended but end8d on 31 March 2023.
Travelllng expenses were relmbursed at HMRC approv8d rate per buslness mile.
10 Employ•g8
Numbèr of ernploy8è8
The average monthly number of employees In the group durfng the year was:
2024
Number
2023
Number
Drlvers {Inc part-tlme dflvers)
Passenger assistants
Driver mechanics
Cowordinators
General manager
Head of finance & admin
Manager of West Norfolk Communlty Transport
Adrninlstrative staff
55
58
70
73
Employmènt Costs
2024
2023
Wages and salaries
Social security Costs
Other pension costs
Redundancy costs
1,305,232
90,574
22,042
1,256,808
87,798
24,816
1,417,848
1,369,422
There were no employees whoso annual remuneration was £60,000 or more.
25

WEST NORFOLK COMMUNITY TRANSPORT PROJECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
11
Impairments
Impairment tests have been carried out where appropriate and the following impairment losses have been
recognised in profit or loss:
2024
2023
In rèspèct of..
Propety, plant and equipment
5,350
55,974
The above impairment relates to vehicle SK65 PWV. In the prior year, SK65 PWV was with a supplier, awaltlng
a new engine. The condition of thè vehlclé remains unknown. The vehicle has been al the supplier's location
since S8Ptemb8r 2022, and it is assumed that the vehicle has been further impaired, down to sGr8p value.
26

WEST NORFOLK COMMUNITY TRANSPORT PROJECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
12 Tangible fixed
assets
GROUP
Bulldlng•
Bu$&
Offlc• Motor v•hlcl•s
Shopmob511ty •qulpment
•4ulpm•nt
Plant and
oqulpment-
WNCT Ltd
Total
Cost
Al 1 April 2023
Additions
471,298
143,735
34,018
2,097,631
10,229
2,756,911
93,434
3,149
450
89,835
Disposals
(985)
12351
(5.00)
13,0711
(9.291)
At 31 March 2024
471,298
145,899
34,233
2,182.466
7,158
2.841,054
Depraclatlon
At 1 Aprll 2023
D8pre¢latlon Charged In th8
peric>d
Impalrment losses
72,089
23,028
1,231,101
3,712
1,329,930
14,856
2,767
126,275
747
144,445
5,350
5,350
Ellmlnated In respe¢l of dlsposals
(602)
(1941
14,5001
(511)
15,807)
At 31 March 2024
86,143
25,601
1,358,226
3,948
1,473,918
Carrylng amount
At 31 March 2024
471,298
59,756
8,632
824,240
3.210
1,367.136
At 31 March 2023
471,298
71,646
10,990
866,531
6.517
1,426,982
Th8 net carrylng valu8 of tangibl8 ass8ts includes th8 following in resp8Ct of assets held under finance
leases or hire purchase contracts. The depreciation charge in respect of such assets amounted lo £75,496
(2023 - £94,242) for Ihe year.
2024
2023
Bus and Shopmobility equipment
Motor vehicles
25,122
629.125
31,402
603,867
654,247
635,269
27

WEST NORFOLK COMMUNITY TRANSPORT PROJECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
13
Flxed assét Investments
2024
2023
Investments in trading subsidiaries
100
100
Mov8ment8 In flxod a88•t Invèstmonts
Shara$
Cost or valuatlon
Al 31 March 2023
100
At 31 March 2024
100
Carrylng amount
At 31 March 2024
100
At 31 March 2023
100
De1811s of the group's subsid5arles at 31 March 2024 are as follows..
Narne of undartaklng
Country of Naturé of buslnes$
Incorporatlon
or rosldoncy
United
Kingdom
Cla81 of
Shareholdlng
% Held
Dlrectlndlrect
WNCT Limlted
Trading
Ordinary
100.00
A summary of the subsldiarles performance and assels18 shown
below.,
Tradlng
2024
Tradlng
2023
Income
Expenditure
1,587,663
1,527,966
1,834,775
1,925,696
Surplusl(Deficlt)
59,697
(90,9211
Net liabilities
194,313)
1154,010)
28

WEST NORFOLK COMMUNITY TRANSPORT PROJECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
14
Flnanclal Instruments
2024
2023
GROUP
Carrylng amount of flnanclal assets
Debt instruments measufèd at amortised cost
841,769
789,748
Carrylng amount of Ilnanclal Ilabllltlos
Measured at amortised cost
548,595
599,555
Charlty
Carrylng amount of flnanclal assels
Debt inslnjments measured at amortiS8d cost
454,087
120.566
Carrylng amounl of flnanclal Ilabllltle8
Measured at amortised cost
404,032
476 883
15 Debtors
Group
2024
Group
2023
Charlty
2024
Charlty
2023
Amount8 falllng dua wlthln one yoar:
Trad8 debtors
Other debtors
Amounts owed by subsSdlary undertaklngs
Prepayments and accrued income
139,164
21,354
176,332
26,056
83,459
79.754
519,583
51,173
824,890
37,339
253,017
179,978
413,535
382,366
654,215
941,983
29

WEST NORFOLK COMMUNITY TRANSPORT PROJECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
16
Loans and ovordrafts
2023
2022
Bank loans
91.867
112,040
Payable within one year
Payable after one year
21,045
70,622
20,543
91,497
Amounts included above which fall due after fiv8 y8ars.'
Payable by Instalments
The long-term loans ar8 Secured by an unlimited dgbenture dated 0410112018 incorporating a fixed and floating
charge.
Bank ov6rdrafts In WNCT Ltd are secured by an unlimited debenture dated 2811112019 incorporating a fixed
and floating charge over th8 assets of WNCT Ltd and Ihe parent company.
A 1bl Legal Charge ov8r Comm8rclallR8sld8ntlal Freehold property known as Unlt 7 & 8 Mer¢hants Close Kings
Lynn PE30 4JX dated 0510112019.
The bank loans are a 10 year loan, last payments due 4 January 2028. Inlere818plit as follows..
Loan 1- 4.45%
Loan 2 _ 2,850h above base rate (variable loan)
17
Flnance lea80 commltments
Future mSnlmum lease payments due under finance18as8s:
2024
2023
Within one year
within two and fivè years
51,468
103,180
110,453
100,157
154,648
210,610
Finance leases are in regards to hlre purchases paid in respect to new buses operated by the trading
subsidiary. These are to be leased to th8 trading subsidiary undar a use ofvehicle charge.
The finance leases are over a 5-year period, and are secur8d againsl tha assets for which thay wer8 usad to
purchase.
30

WEST NORFOLK COMMUNITY TRANSPORT PROJECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
18 Creditors". amounls falling due wlthln one year
Group
2024
Group
2023
Charlty
2024
Charity
2023
Notes
Bank loans
Obligations under finance leas8
Other laxatlon and social security
Trade creditors
Amounls owéd to subsldlary undertakings
Other creditors
Accruals and d6ferred incom8
16
17
21,045
51,468
20,453
123,795
20,543
110,453
20,673
200,106
21.045
51,468
4,673
60,355
20,543
110,453
1,651
104,651
7.123
102.150
5,764
43,555
21,027
16,338
326,034
401,094
158,568
253,636
19 Crodltors: amounts falllng duo after more than one yéar
Group
2024
Group
2023
Charlty
2024
Charlty
2023
Nole8
Bank loan$
Obligations under finance lease
16
17
70,622
103,180
91,497
100,157
70,622
103,180
91,497
100,157
173,802
191,654
173,802
191,654
20 Provlslons for Ilabllltlo8
Group
2024
Group
2022
Charlty
2023
Charlty
2022
D8f8rred tax liabililles
Movements on provisions..

WEST NORFOLK COMMUNITY TRANSPORT PROJECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
21 R8Strlcted funds
The income funds of the charity Includè restricted funds comprising the following unexpended balances of
donations and grants held on trust for specific purposes,.
Movement In funds
Incornlng
Rosourcgs
Balanc• at
R•$aur¢o•
•xpand•d 31 M*rch 2024
B•lan￿ at
1 Aprll 2022
RoJour¢•i Balan¢• #t 1
oxp•nd•d
Aprll 2023
Restricted Funds - Inillal
grant of Swaffham Flyer
SN64 FTX
Norfolk County Councll-
grant for flexibus fleet
vehicles
Norfolk County Council-
grant for Swaffham
vehlcles
7,839
(1,5681
6,271
(1.254)
5,017
34,290
(17,142)
17,148
{17,148)
4.340
12,172)
2,168
(2,168)
46,469
(20,882)
25,587
{20,570)
5,017
The grant for the Swaffham FIy8r was with regards lo a vehicle funded by Norfolk County Council in order to
provide services to and from Swaffham town ¢enlre.
The grant for the Flexibus Fleet vehScles was appliéd for In ordèr to help fund the purchase of new Flexlbus
vèhl¢les purchased for the purpose of improvlng th8 servlce and Increase route options in the Shipdam area.
The grant for the Swaffham Vehicle was in regards lo vehicl8s donat8d by Norfolk County Council, for Ihe
purpose of providing the vehicles for service in the Swatham area.
22 Deslgnated and general unrastrlctèd funds
Thè income funds of the Charity include the following designalad and general funds which have been sel aside
out of unrgstriclgd funds by the trustees for sp8cific purpos8S.'
Balancè al 1
Aprll 2023
Net Income for
the year
Transfors
Balance at 31
March 2024
Vehicle renewal and replacement fund
General unreslrlcted funds
150,000
1,628,372
150,000
1.807,069
178,697
1,778,372
178,697
1,957,069
32

WEST NORFOLK COMMUNITY TRANSPORT PROJECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
23 Analy818 of nel assets between funds
Unrestrlctod Restrlctod
Group 2024 Group 2024
Total
2024
Totsl
2023
Fund balances at 31 March 2024
are represented by:
Tangible assets
Currgnl assetsllliabilities)
Long tem158bllltles
Provisions
1,362,119
768,752
1173,802)
5.017
1,367,136 1,460,226
768,752
535.388
(173.8021 1191,6541
1,957,069
5,017
1,962,086 1.803,960
24 Oparatlng lèase commltments
At tha r8POrtlng end dale the charity had outstanding comrnitments for future mlnimum lease
payments under non-cancellable operating leases, which fall due as follows:
2024
2023
Within on8 y8ar
Ba￿een tsvo and flve years
86,914
44,373
131,287
95,643
131,287
226,930
25 Rolat•d party transactlon8
Romuneratlon of key managamént personnel
The remuneration of key management personnel In the group Is as follows.
2024
2023
Aggregate compensation
195,838
165,642
26 Capltal commltmant8
At 31 March 2024 thè charlty had capital commitments as follows:
2024
2023
Contracted for bul not provided In the financial statements:
Acquisition of property, plant and equipment
33

WEST NORFOLK COMMUNITY TRANSPORT PROJECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
27 Cash gèneratod from opèratlons
2024
2023
Surpluslldeficit) for Ihe year
158,127
67,172
Adjustments for..
Investment income recognised in statement of financial activities
Dépraclatlon of tangible fixed assets
Loss on disposals
Taxation charged
Finance costs
(2,0741
149,795
2,560
170)
90,561
6,540
4,300
Movements in working capital..
Decr8asellincreasè} In debtors
IDecrease)lincrease In credltors
IDeGreaselllncrèa58 in provisions
IDecrease>lincrease in deferred Ir)come
(31,170)
116,577)
(23,245)
39,300
134,7501
Cash generatgd from oporatlon8
267,201
143,268
28 Analysls of chang08 In net (debt)Ifunds
At 1 Aprll 2023
Ca•h flow•
At 31 March
2024
Cash at bank and In h8nd
587,360
93,891
681,251
Loans falling due within one year
Loans falling due after more than on8 year
Obligallons under flnance leases
120,543)
191,497)
(210,610)
1502)
20,875
55,962
{21,045)
170,622)
(154,648)
264,710
170,226
434,936
34