Digitally Signed Document Document ID: 22824868C77084
Document Details:
SOT01-Charity accounts (final)-CG-20231218- Filename: 075742-123[397278].PDF Client of: Adams Beeny Ltd
Signature Details
| Name: | Peter Edgeler |
|---|---|
| Email: | pete.edgeler@btinternet.com |
| Date & Time: | 02/01/2024 11:46:31 AM (GMT) |
| IP Address: | 86.143.39.107 |
| Signing Statement: | Southdown Omnibus Trust confirms that the information is correct and complete to the best of their knowledge and belief. |
Digital Certificate
The approved PDF file has been digitally certified. Please check the Digital Certificate information in your PDF viewer to verify the Digital Certificate authenticity and the PDF has not been tampered with.
| On behalf of: | Adams Beeny Ltd |
|---|---|
| PDF digital certificate: | IRIS Software Group Limited |
| Digital certificate issued by: | GlobalSign |
Please keep a copy of this document for your records.
REGISTERED CHARITY NUMBER: 1070513
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 31 March 2023
for
SOUTHDOWN OMNIBUS TRUST
Adams Beeny Limited 4 Sudley Road Bognor Regis West Sussex PO21 1EU
SOUTHDOWN OMNIBUS TRUST
Contents of the Financial Statements for the Year Ended 31 March 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Notes to the Financial Statements | 5 | to | 8 |
| Detailed Statement of Financial Activities | 9 |
SOUTHDOWN OMNIBUS TRUST
Report of the Trustees
for the Year Ended 31 March 2023
The trustees present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1070513
Principal address
Silver Wings Arundel Road Arundel West Sussex BN18 0QP
Trustees
M Plunkett (resigned 2.8.22) A Lambert Trustee P Edgeler Trustee J T Robinson Trustee (appointed 2.8.22) D J Parker Trustee I Marsh Trustee
Independent Examiner
Adams Beeny Limited 4 Sudley Road Bognor Regis West Sussex PO21 1EU
Approved by order of the board of trustees on 20 December 2023 and signed on its behalf by:
P Edgeler - Trustee
Page 1
Independent Examiner's Report to the Trustees of Southdown Omnibus Trust
Independent examiner's report to the trustees of Southdown Omnibus Trust
I report to the charity trustees on my examination of the accounts of Southdown Omnibus Trust (the Trust) for the year ended 31 March 2023.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
M W Cook FCCA The Association of Chartered Certified Accountants
Adams Beeny Limited 4 Sudley Road Bognor Regis West Sussex PO21 1EU
20 December 2023
Page 2
SOUTHDOWN OMNIBUS TRUST
Statement of Financial Activities for the Year Ended 31 March 2023
| 31.3.23 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 371,907 Investment income 2 2,499 Total 374,406 EXPENDITURE ON Other 83,581 NET INCOME 290,825 RECONCILIATION OF FUNDS Total funds brought forward 210,517 TOTAL FUNDS CARRIED FORWARD 501,342 |
31.3.22 Total funds £ 54,013 1,138 |
|---|---|
| 55,151 | |
| 2,828 | |
| 52,323 158,194 |
|
| 210,517 |
The notes form part of these financial statements
Page 3
SOUTHDOWN OMNIBUS TRUST
Balance Sheet
31 March 2023
| 31.3.23 Unrestricted fund Notes £ CURRENT ASSETS Cash at bank and in hand 502,517 CREDITORS Amounts falling due within one year 5 (1,175) NET CURRENT ASSETS 501,342 TOTAL ASSETS LESS CURRENT LIABILITIES 501,342 NET ASSETS 501,342 FUNDS 6 Unrestricted funds 501,342 TOTAL FUNDS 501,342 |
31.3.22 Total funds £ 211,597 (1,080) 210,517 210,517 210,517 210,517 210,517 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 20 December 2023 and were signed on its behalf by:
P Edgeler - Trustee
The notes form part of these financial statements
Page 4
SOUTHDOWN OMNIBUS TRUST
Notes to the Financial Statements
for the Year Ended 31 March 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Heritage assets
The Charity owns a fleet of vintage buses.
The Charity`s accounting policy is to write off the cost of each bus purchased in the year of acquisition.
The trustees best estimate of the current market value of the fleet is £ 290,000.
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 31.3.23 | 31.3.22 | |
| £ | £ | |
| Deposit account interest | 2,499 | 1,138 |
Page 5
continued...
SOUTHDOWN OMNIBUS TRUST
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Investment income Total EXPENDITURE ON Other NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 6. MOVEMENT IN FUNDS At 1.4.22 £ Unrestricted funds General fund 210,517 TOTAL FUNDS 210,517 |
Unrestricted fund £ 54,013 1,138 55,151 2,828 52,323 158,194 210,517 31.3.23 31.3.22 £ £ 1,175 1,080 Net movement At in funds 31.3.23 £ £ 290,825 501,342 290,825 501,342 |
|---|---|
Page 6
continued...
SOUTHDOWN OMNIBUS TRUST
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
6. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 374,406 374,406 |
Resources Movement expended in funds £ £ (83,581) 290,825 (83,581) 290,825 |
Resources Movement expended in funds £ £ (83,581) 290,825 (83,581) 290,825 |
|---|---|---|---|
| 290,825 |
Comparatives for movement in funds
| At 1.4.21 £ Unrestricted funds General fund 158,194 TOTAL FUNDS 158,194 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 55,151 TOTAL FUNDS 55,151 |
Net movement At in funds 31.3.22 £ £ 52,323 210,517 52,323 210,517 Resources Movement expended in funds £ £ (2,828) 52,323 (2,828) 52,323 |
At 31.3.22 £ 210,517 |
At 31.3.22 £ 210,517 |
|---|---|---|---|
| 210,517 | |||
| 52,323 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.4.21 £ 158,194 158,194 |
Net movement in funds £ 343,148 343,148 |
At 31.3.23 £ 501,342 |
|---|---|---|---|
| 501,342 |
continued...
Page 7
SOUTHDOWN OMNIBUS TRUST
Notes to the Financial Statements - continued
for the Year Ended 31 March 2023
6. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 429,557 429,557 |
Resources Movement expended in funds £ £ (86,409) 343,148 (86,409) 343,148 |
|---|---|---|
7. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2023.
Page 8
SOUTHDOWN OMNIBUS TRUST
| INCOME AND ENDOWMENTS Donations and legacies Donations Investment income Deposit account interest Total incoming resources EXPENDITURE Support costs Management Accountancy Insurance Repairs Finance Bank charges Other Purchase of bus Sundries Total resources expended Net income |
Detailed Statement of Financial Activities for the Year Ended 31 March 2023 31.3.23 31.3.22 £ £ 371,907 54,013 2,499 1,138 374,406 55,151 1,175 1,080 210 - 8,712 1,505 10,097 2,585 85 - 73,324 - 75 243 73,399 243 83,581 2,828 290,825 52,323 |
Detailed Statement of Financial Activities for the Year Ended 31 March 2023 31.3.23 31.3.22 £ £ 371,907 54,013 2,499 1,138 374,406 55,151 1,175 1,080 210 - 8,712 1,505 10,097 2,585 85 - 73,324 - 75 243 73,399 243 83,581 2,828 290,825 52,323 |
|---|---|---|
| 55,151 1,080 - 1,505 |
||
| 2,585 - - 243 |
||
| 243 | ||
| 2,828 | ||
| 52,323 |
This page does not form part of the statutory financial statements
Page 9