REGISTERED CHARITY NUMBER: 1070513
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 31 March 2025
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 2025
| 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 | 9 |
| Detailed Statement of Financial Activities | 10 |
SOUTHDOWN OMNIBUS TRUST
Report of the Trustees
for the Year Ended 31 March 2025
The trustees present their report with the financial statements of the charity for the year ended 31 March 2025. 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
A Lambert Trustee P Edgeler Trustee J T Robinson Trustee D J Parker Trustee C J Rickard (appointed 19.8.24) R L Borrett (appointed 19.8.24)
Independent Examiner
Adams Beeny Limited 4 Sudley Road Bognor Regis West Sussex PO21 1EU
Approved by order of the board of trustees on 20 October 2025 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 2025.
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
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
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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 October 2025
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SOUTHDOWN OMNIBUS TRUST
Statement of Financial Activities for the Year Ended 31 March 2025
| 31.3.25 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 16,697 Investment income 2 13,150 Total 29,847 EXPENDITURE ON Other 62,742 NET INCOME/(EXPENDITURE) (32,895) RECONCILIATION OF FUNDS Total funds brought forward 448,943 TOTAL FUNDS CARRIED FORWARD 416,048 |
31.3.24 Total funds £ 414 9,948 10,362 62,761 (52,399) 501,342 448,943 |
|---|---|
The notes form part of these financial statements
Page 3
SOUTHDOWN OMNIBUS TRUST
Balance Sheet
31 March 2025
| 31.3.25 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 5 689 CURRENT ASSETS Cash at bank and in hand 416,859 CREDITORS Amounts falling due within one year 6 (1,500) NET CURRENT ASSETS 415,359 TOTAL ASSETS LESS CURRENT LIABILITIES 416,048 NET ASSETS 416,048 FUNDS 7 Unrestricted funds 416,048 TOTAL FUNDS 416,048 |
31.3.24 Total funds £ 861 449,482 (1,400) 448,082 448,943 448,943 448,943 448,943 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 20 October 2025 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 2025
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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings
- 20% on cost
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.
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continued...
SOUTHDOWN OMNIBUS TRUST
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 31.3.25 | 31.3.24 | |
| £ | £ | |
| Deposit account interest | 13,150 | 9,948 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 414 |
| Investment income | 9,948 |
| Total | 10,362 |
| EXPENDITURE ON | |
| Other | 62,761 |
| NET INCOME/(EXPENDITURE) | (52,399) |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 501,342 |
| TOTAL FUNDS CARRIED FORWARD | 448,943 |
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continued...
SOUTHDOWN OMNIBUS TRUST
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
5. TANGIBLE FIXED ASSETS
| COST At 1 April 2024 and 31 March 2025 DEPRECIATION At 1 April 2024 Charge for year At 31 March 2025 NET BOOK VALUE At 31 March 2025 At 31 March 2024 6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 7. MOVEMENT IN FUNDS At 1.4.24 £ Unrestricted funds General fund 448,943 TOTAL FUNDS 448,943 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 29,847 TOTAL FUNDS 29,847 |
Fixtures and fittings £ 1,076 215 172 387 689 861 31.3.25 31.3.24 £ £ 1,500 1,400 Net movement At in funds 31.3.25 £ £ (32,895) 416,048 (32,895) 416,048 Resources Movement expended in funds £ £ (62,742) (32,895) (62,742) (32,895) |
|---|---|
continued...
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SOUTHDOWN OMNIBUS TRUST
Notes to the Financial Statements - continued
for the Year Ended 31 March 2025
7. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.4.23 £ Unrestricted funds General fund 501,342 TOTAL FUNDS 501,342 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 10,362 TOTAL FUNDS 10,362 |
Net movement At in funds 31.3.24 £ £ (52,399) 448,943 (52,399) 448,943 Resources Movement expended in funds £ £ (62,761) (52,399) (62,761) (52,399) |
At 31.3.24 £ 448,943 |
At 31.3.24 £ 448,943 |
|---|---|---|---|
| 448,943 | |||
| (52,399) |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.4.23 £ 501,342 501,342 |
Net movement in funds £ (85,294) (85,294) |
At 31.3.25 £ 416,048 |
|---|---|---|---|
| 416,048 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 40,209 | (125,503) | (85,294) |
| TOTAL FUNDS | 40,209 | (125,503) | (85,294) |
continued...
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SOUTHDOWN OMNIBUS TRUST
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
8. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2025.
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SOUTHDOWN OMNIBUS TRUST
| INCOME AND ENDOWMENTS Donations and legacies Other income Donations Investment income Deposit account interest Total incoming resources EXPENDITURE Support costs Management Accountancy Insurance Repairs Donations Depreciation Finance Bank charges Other Sundries Total resources expended Net expenditure |
Detailed Statement of Financial Activities for the Year Ended 31 March 2025 31.3.25 31.3.24 £ £ 1,425 - 15,272 414 16,697 414 13,150 9,948 29,847 10,362 1,500 1,400 2,006 2,423 29,259 20,012 29,292 38,559 172 215 62,229 62,609 60 62 453 90 62,742 62,761 (32,895) (52,399) |
|---|---|
This page does not form part of the statutory financial statements
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