REGISTERED COMPANY NUMBER: 03620232 (England and Wales) REGISTERED CHARITY NUMBER: 1076729
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2023
for WatBus
Peter Weldon & Co. Ltd 87 Station Road Ashington Northumberland NE63 8RS
WatBus
Contents of the Financial Statements for the Year Ended 31 December 2023
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|Page|
|Report of the|Trustees|1|to|5|
|Independent|Examiner's|Report|6|
|Statement|of Financial|Activities|7|
|Balance|Sheet|8|to|9|
|Cash|Flow|Statement|10|
|Notes|to|the|Cash|Flow|Statement|1]|
|Notes|to|the|Financial|Statements|12|to|19|
|Detailed|Statement of Financial|Activities|20|to|21|
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WatBus
Report of the Trustees for the Year Ended 31 December 2023
For the year end 31 December 2023
The Trustees, who are also directors for the purpose of company law, have the pleasure of presenting their report and the financial statements to the Charity Commission for the year end 31 December 2023. The trustees have adopted the provision of accounting and reporting by the 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 2015).
Objectives and outcomes
2023 saw WATBus celebrating its 25th anniversary of providing quality affordable community transport. Since it was founded, it has grown, evolved and reinvested where possible to respond to demand and need. WATBus now enhances the quality of life of people with different abilities and challenges across much ofNorthumberland and the surrounding areas. It aims to provide much needed access for those who otherwise would struggle to get out and about.
WATBike is another part of the charity which focuses on getting more people cycling for the mental and physical health benefits this offers and protecting the environment through bike refurbishment and recycling.
During 2023 a new project received investment from the charity called WATBreak. This is a respite static caravan purchased to offer affordable breaks. It will be used by carers and families to temporarily relieve the stresses and strains of their hectic lives. The team have been working hard to have this service available to use from spring 2024 The value of community transport
As the Community Transport Association states, community transport is not just about moving people from point A to point B, it is about fostering a sense of belonging, bridging divides, and empowering individuals to access education, employment, healthcare, and social opportunities that are the bedrock of a thriving community. The WAT family is very proud of the contribution we have made to this since our organisation was founded and we are looking forward to what's to come over the next twenty-five years.
"Helping people in all walks of life live life to the full. Whether it is children getting to school or the elderly going to the shops, we strive to get people out and about."
Our 25th birthday was a good time to reflect on the impacts of our charitable work and how the social outcomes of WATBus and WATBike overlap and in doing so, we created a new joint mission statement: to provide friendly and professional community transport and cycling services to enhance the connectedness, social inclusion and mental and physical well-being of the people and communities we serve.
Enhanced well-being
Loneliness and isolation are known to lead to depression, anxiety and mental decline, with lonely and isolated people needing more support from health and social care services, as well as family members. According to an in-depth study by Deloitte and funded by ECT Charity (Tackling Loneliness and Isolation Through Community Transport), the financial cost to the UK of these effects today is around £2.1 billion every year, and what's more, the problem is growing as the UK's population ages.
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WatBus
Report of the Trustees for the Year Ended 31 December 2023
But we are up to the challenge and have been building our capacity over the years. We now boast a fleet of 19 minibuses, five of which are specially adapted to carry wheelchair passengers. The figures for 2023 alone give an insight into how many people's lives we improve by providing friendly and affordable transport, with our vehicles travelling 195,000 miles and transporting over 60 thousand people during the year.
"Many of us take for granted that we can pop to the shops or go and get a haircut, but for many of the people who use this service it has proven to bea lifeline."
Our research has revealed that since it was launched in 2022, 70% of the people who use our Out & About scheme (a door-to-door service transporting individuals who cannot get out to attend vital appointments or do their shopping alone) are isolated elderly people or people with disabilities who need more of a person-centred approach when it comes to their transport needs.
One user of this service, Mary, said: "It's bad enough my legs don't work now but the thought of not getting to my group was so upsetting. The Out & About scheme has allowed me to still go and meet up with my friends. You don't know what it means to keep my independence".
All this is only made possible by our fantastic team of over 30 people from various backgrounds. In a recent stakeholder survey, what most stood out was how friendly, helpful, and knowledgeable our team is, with one member of staff saying: "the people I work with and for are a special bunch also, all working together or individually, everyone is there to help each other" and a volunteer explaining that they "benefit from the camaraderie and spirit of the place". All the team are committed to providing the best possible services to our customers, which range from local authorities (to whom we provide SEN transport) to Mind Active in Bedlington, the Woodhorn Museum in Ashington, Ponteland High School, and Durham University Walking Group. Our key partners are Northumberland County Council and other charities and community groups including Vision Northumberland, Get2gether, Barnabus and the Ashington Blind Club. Many of the latter rely on our transport to be able to deliver their own services and we very much see their beneficiaries as our own. ,
"I just wanted to say a huge thank you for our minibus outing today. Our driver was a big hit - he was so friendly and helpful. We wanted to let you know he got a big thumbs up and five-star reviews from us all."
WATBus' work also goes beyond providing heavily subsidised transport and volunteer drivers to VCSE and _ local organisations - we sponsor two local football teams (juniors and ladies) and individual players and next year we plan to create a fund for local sports teams involved in less common sports, e.g. disabled sport.
In addition, we run seasonal campaigns, such as free transport at Christmas and free meals for some of our community groups. Our "going that extra mile" attitude also extends to helping our beneficiaries in other aspects of their lives, e.g. support with paperwork, mental health.
Lastly, WATBus is a MIDAS certified training organisation with the Community Transport Association (CTA) and provide both Standard and Accessible MIDAs training to local organisations including local Schools, Community groups and Daycentres.
Turning to WATBike, its core charitable purpose is to get more people on bikes, whether by organising free rides or providing free bikes to those in need (e.g. Ukrainians, Restart job programme) and protecting the environment by keeping bikes out of landfill, recycling inner tubes (Velorim) and donating old frames to local metal workers and inner tubes to upcycles.
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WatBus
Report of the Trustees for the Year Ended 31 December 2023
The stats for 2023 are impressive. We received over 500 donated bikes, of which 245 were sold to fund our work and 20% were given away (over 30 bikes through the NEST scheme, 50 to the Scotswood Garden Project, and 100 bikes to Ukrainians in partnership with Northumberland County Council).
We repaired and serviced more than 843 bikes at our Kirkley workshop and checked 160 bikes for free at the Dr Bike sessions we ran at Newcastle University in the autumn term.
We are contributing to reduce landfill, stripping 155 second-hand bikes for parts and/or for local metal workers to reuse, and we also recycled over 1,000 kg of used tyres through the Velorim scheme.
We also improve the well-being of local people by running free weekly guided rides with volunteer guides who take cyclists on various routes promoting the local area. In 2023, we cycled more than seven thousand miles.
"I've seen how participants gain a sense of confidence, establish friendships, improve their skills and abilities, improve their knowledge of the local area and they tell me there are health benefits (both physical and mental)."
We facilitate cycling across the whole of mainland UK for cyclists of all abilities and provide transport using our minibuses and specialist trailers for challenges including the C2C, Coast and Castles, Reivers and Hadrian's Cycleway. Recently we also provided transport for a group of cyclists from London who were fund raising for Great Ormand Street hospital. Participants on our multi-day trips in England and Scotland racked up an impressive 6,800 miles during the year.
So what lies in store for the WAT family in 2024? Well, as mentioned at the start, we'll be opening the doors to our new WATBreak caravan in the spring to allow people on lower incomes to enjoy affordable breaks in a beautiful spot on the Northumberland coast. The Out and About scheme will continue to develop meeting the demand for local people to access vital appointments, groups or access shops and services.
We will also be building on the success of a project we supported several years ago called the CELL shuttle in Cresswell, Ellington, Linton and Lynemouth. This minibus enabled people living in what are areas with high levels of deprivation and with no access to a vehicle and limited public transport to get to the shops and vital services in Morpeth.
Unfortunately, the CELL Shuttle service was discontinued just before the Covid pandemic. However, we have had regular contact with some of the individuals who accessed the service who would love to see its return and we are now in a position to look for funding to reinstate a weekly service in the CELL area. This is a priority for us in 2024,
In short, we are proud of our strengths - which are the support of our great staff and volunteers, sense of family, loyal customers, goodwill, and strong brand recognition - and will use these as a platform to further develop our community transport services in the year ahead. Working alongside our partners, we will reduce the ill effects on them of social exclusion through a lack of affordable transport, and in doing so contribute to reducing health and social care costs across Northumberland.
"After I retired, I wanted something to keep me occupied during the day. WATBus has certainly kept me busy. I really enjoy the out and about scheme as I know I am helping people get to vital appointments. It's nice to make a difference in the area I live.”
Funders
We would like to thank our funders for their ongoing and invaluable support:
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WatBus
Report of the Trustees for the Year Ended 31 December 2023
Sir James Knott Trust
Community Foundation Big Bike revival Northumberland County Council Community Chest
Chair's statement
I would like to start by saying a big thank you to all our staff and volunteers for the professional & empathic way they support the work we do in the local communities throughout Northumberland and surrounding areas.
The school contract work which now sees us hold 14 contracts; the demand for community transport & self-drive hires; providing MIDAS training to individuals; the Out and About car scheme; and of course, our new venture WATBreak, are all examples of how we are growing our organisation and increasing the number of people we support in the community. WATBike continues to develop the servicing and repair elements of the workshop, as well as the number of recycled bikes which are donated to people in need every year, and they continue to see a demand on their services in general. I look forward to seeing how all the projects, especially WATBreak, develop into 2024.
I would also like to take this opportunity to thank our funders who have continued to support the vital work we carry out for voluntary and community sector groups/organisations, daycentres, schools, and individuals. As a trustee and chair of WATBus it has been my pleasure to see how the organisation has evolved over the past 25 years in supporting the local communities with affordable transport. I have been Chair for 16 years and to see how we have developed over the years fills me with such pride.
It is my pleasure to be able to present these WATBus accounts for the year end 31st December 2023.
STRATEGIC REPORT
Reserves policy
The trustees have given careful consideration to the current and future needs of the Charity's beneficiaries: the risks and opportunities associated with the normal running of the Charity's affairs and have formulated a reserves policy accordingly.
The trustees have amended the reserves policy this year so that the requirement is to have 3 months of expenditure in free reserves.
As at 31 December 2023, the Charity had total reserves of £441,132 of which £26,130 were restricted funds and £415,002 were unrestricted.
There was £203,815 of unrestricted fixed assets which means that the Charity has £211,187 of free reserves.
Based upon our 2023 accounts the monthly expenditure is £60,665, meaning that there is sufficient in free reserves to maintain 3.48 months.
The Charity is working hard to ensure these objectives are met and will be reviewed by the Trustees on a regular basis with the objective to increase the reserves policy from its current level whilst ensuring there is sufficient funds to expand and grow
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WatBus
Report of the Trustees for the Year Ended 31 December 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
03620232 (England and Wales)
Registered Charity number
1076729
Registered office Wansbeck Workspace Wansbeck Business Park Ashington Northumberland NE63 8QZ
Trustees LJ Kidd J Davenport AR Wade JR Wakenshaw
Independent Examiner Peter Weldon & Co. Ltd 87 Station Road Ashington Northumberland NE63 8RS
Bankers
Barclays Bank 53 Fawcett Street Sunderland SR1 1RS
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on aay ail and signed on the board's behalf by: LJLE!
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Independent Examiner's Report to the Trustees of WatBus
Independent examiner's report to the trustees of WatBus (‘the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year 31 December 2023.
ended
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination | have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 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 Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with examination giving me cause to believe:
the
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
4, the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Pelauen tefl
P Weldon
Peter Weldon & Co. Ltd 87 Station Road
Ashington Northumberland NE63 8RS .
Date: Tee
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WatBus
Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 December 2023
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|---|---|---|---|---|---|---|---|
|2023|2022|
|Unrestricted|Restricted|Total|Total|
|fund|fund|funds|funds|
|Notes|£|£|£|£|
|INCOME|AND ENDOWMENTS FROM|
|Donations|and|legacies|2|54,563|-|54,563|32,618|
|Other|trading activities|3|762,308|-|762,308|667,230|
|Investment|income|4|748|-|748|142|
|Other|income|(5,347)|-|(5,347)|3,189|
|Total|812,272|-|812,272|703,179|
|EXPENDITURE|ON|
|Raising|funds|5|-|-|-|2,100|
|Charitable|activities|6|
|WATBus|Activities|470,223|-|470,223|391,415|
|WATBike|Activities|114,885|-|114,885|110,829|
|Support|Costs|139,177|-|139,177|105,550|
|WATBreak|Activities|3,701|-|3,701|-|
|Total|727,986|-|727,986|609,894|
|NET INCOME|84,286|-|84,286|93,285|
|RECONCILIATION|OF FUNDS|
|Total|funds|brought|forward|330,716|26,130|356,846|263,561|
|TOTAL FUNDS CARRIED FORWARD|415,002|26,130|441,132|356,846|
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The notes form part of these financial statements
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WatBus
Balance Sheet 31 December 2023
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|---|---|---|---|---|---|---|---|---|
|2023|2022|
|Unrestricted|Restricted|Total|Total|
|fund|fund|funds|funds|
|Notes|£|£|£|£|
|FIXED|ASSETS|
|Tangible|assets|12|203,815|-|203,815|200,217|
|CURRENT|ASSETS|
|Debtors|13|34,722|-|34,722|64,196|
|Cash|at bank and|in|hand|197,086|26,130|223,216|147,230|
|231,808|26,130|257,938|211,426|
|CREDITORS|
|Amounts|falling due|within one|year|14|(20,621)|-|(20,621)|(54,797)|
|NET CURRENT ASSETS|211,187|26,130|237,317|156,629|
|TOTAL ASSETS|LESS CURRENT|
|LIABILITIES|415,002|26,130|441,132|356,846|
|NET ASSETS|415,002|26,130|441,132|356,846|
|FUNDS|15|
|Unrestricted|funds|415,002|330,716|
|Restricted|funds|26,130|26,130|
|TOTAL FUNDS|441,132|356,846|
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The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) _ preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
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WatBus
Balance Sheet - continued 31 December 2023
The financial statements were approved by the Board of Trustees and authorised for issue on DLA, LORE and were signed on its behalf by:
LLL[Trustee]
The notes form part of these financial statements
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WatBus
| Cash Flow Statement | ||||
|---|---|---|---|---|
| for | theYearEnded 31 December2023 | 2023 | ||
| 2023 | 2022 | |||
| Notes | £ | £ | ||
| Cash flowsfrom operating activities | ||||
| Cash generatedfrom operations | 1 | 157,687 | 162,928 | |
| Interestpaid | (1,774) | (86) | ||
| Netcash providedby operating activities | 155,913 | 162,842 | ||
| Cash flows from investing activities | ||||
| Purchaseoftangible fixed assets | (102,177) | (137,005) | ||
| Saleoftangiblefixed assets | 21,502 | 18,657 | ||
| Interest received | 748 | 142 | ||
| Netcash used in investing activities | (79,927) | (118,206) | ||
| Change in cashand cash equivalents | in | |||
| the reporting period | 75,986 | 44,636 | ||
| Cash and cash equivalents atthe | ||||
| beginningofthe reporting period | 147,230 | 102,594 | ||
| Cashandcashequivalents attheendof | of | |||
| thereportingperiod | 223,216 | 147,230 |
The notes form part of these financial statements
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WatBus
Notes to the Cash Flow Statement for the Year Ended 31 December 2023
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||||||||
|---|---|---|---|---|---|---|
|1.|RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING|ACTIVITIES|
|2023|2022|
|£|£|
|Net income|for the|reporting|period|(as|per the|Statement of|
|Financial|Activities)|84,286|93,285|
|Adjustments|for:|
|Depreciation|charges|71,730|56,277|
|Loss((profit)|on|disposal of fixed|assets|5,347|(3,189)|
|Interest|received|(748)|(142)|
|Interest|paid|1,774|86|
|Decrease/(increase)|in|debtors|29,474|(23,063)|
|(Decrease)/increase|in|creditors|(34,176)|39,674|
|Net|cash provided|by|operations|157,687|162,928|
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2. ANALYSIS OF CHANGES IN NET FUNDS
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|---|---|---|---|---|---|---|
|At|1/1/23|Cash|flow|At 31/12/23|
|£|£|£|
|Net|cash|
|Cash|at bank and|in|hand|147,230|75,986|223,216|
|147,230|75,986|223,216|
|Total|147,230|75,986|223,216|
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The notes form part of these financial statements
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- ACCOUNTING POLICIES
WatBus
Notes to the Financial Statements
for the Year Ended 31 December 2023
Basis of preparing the financial statements
The financial statements of the charitable company, 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 Companies Act 2006. 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.
Modular Building - 33% on cost per annum Bike equipment - 25% on reducing balance per annum Motor vehicles - 25% on reducing balance per annum Computer equipment - 15% on cost
Taxation
The charity is exempt from corporation 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.
Irrecoverable vat
Irrecoverable VAT is included in the Statement of Financial Activities, and is reported as part of the expenditure to which it relates.
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WatBus
| Notes to the Financial Statements - continued | |||||
|---|---|---|---|---|---|
| for theYearEnded 31 December2023 | |||||
| 2. | DONATIONS | ANDLEGACIES | |||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Donations | 54,563 | 32,618 | |||
| 3. | OTHERTRADING ACTIVITIES | ||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| WATBus operatingincome | 640,506 | 561,956 | |||
| WATBike operating income | 121,531 | 105,274 | |||
| WATBreak operating income | 271 | - | |||
| 762,308 | 667,230 | ||||
| 4. | INVESTMENTINCOME | ||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Deposit account interest | 748 | 142 | |||
| 5. | RAISING FUNDS | ||||
| Othertrading | activities | ||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Bad debts | - | 2,100 | |||
| 6. | CHARITABLE ACTIVITIESCOSTS | ||||
| Support | |||||
| Direct | costs (see | ||||
| Costs | note 7) | Totals | |||
| £ | £ | £ | |||
| WATBus Activities | 470,223 | - | 470,223 | ||
| WATBike Activities | 114,885 | - | 114,885 | ||
| SupportCosts | 71,730 | 67,447 | 139,177 | ||
| WATBreak Activities | 3,701 | - | 3,701 | ||
| 660,539 | 67,447 | 727,986 |
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WatBus
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
- SUPPORT COSTS
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||||||||
|---|---|---|---|---|---|---|
|Management|
|£|
|Support Costs|67,447|
|8.|NET INCOME/(EXPENDITURE)|
|Net|income/(expenditure)|is|stated|after charging/(crediting):|
|2023|2022|
|£|£|
|Depreciation|- owned|assets|71,730|56,277|
|(Deficit)/surplus|on|disposal|of fixed|assets|5,347|(3,189)|
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- TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
Trustees’ expenses
There were no trustees’ expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.
10. STAFF COSTS
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||||||||
|---|---|---|---|---|---|---|
|2023|2022|
|£|£|
|Wages|and|salaries|364,909|298,158|
|364,909|298,158|
|The|average monthly number of|employees|during the|year was|as|follows:|
|2023|2022|
|Employees|FTE|15|10|
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No employees received emoluments in excess of £60,000.
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WatBus
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
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|||||||
|---|---|---|---|---|---|
|11.|COMPARATIVES FOR THE STATEMENT|OF FINANCIAL|ACTIVITIES|
|Unrestricted|Restricted|Total|
|fund|fund|funds|
|£|£|£|
|INCOME AND ENDOWMENTS FROM|
|Donations and|legacies|32,618|-|32,618|
|Other trading|activities|667,230|-|667,230|
|Investment|income|142|-|142|
|Other|income|3,189|-|3,189|
|Total|703,179|-|703,179|
|EXPENDITURE|ON|
|Raising|funds|2,100|-|2,100|
|Charitable|activities|
|WATBus|Activities|391,415|-|391,415|
|WATBike|Activities|110,829|-|110,829|
|Support Costs|105,550|-|105,550|
|Total|609,894|-|609,894|
|NET INCOME|93,285|-|93,285|
|RECONCILIATION|OF FUNDS|,|
|Total|funds|brought forward|237,431|26,130|263,561|
|TOTAL FUNDS|CARRIED FORWARD|330,716|26,130|356,846|
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continued...
WatBus
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
| 12. | TANGIBLE FIXEDASSETS | |||
|---|---|---|---|---|
| Modular | Bike | |||
| Building | Caravan | equipment | ||
| £ | £ | £ | ||
| COST | ||||
| At 1 January2023 | 61,999 | - | 46,376 | |
| Additions | - | 60,000 | - | |
| Disposals | - | - | - | |
| At 31 December2023 | 61,999 | 60,000 | 46,376 | |
| DEPRECIATION | ||||
| At | January2023 | 61,999 | - | |
| Charge foryear | - | 15,000 | 2,220 | |
| Eliminated on disposal | - | - | - | |
| At 31 December2023 | 61,999 | 15,000 | 39,707 | |
| NETBOOKVALUE | ||||
| At 31 December2023 | - | 45,000 | 6,669 | |
| At 31 December2022 | - | - | 8,889 | |
| Motor | Computer | |||
| vehicles | equipment | Totals | ||
| £ | £ | £ | ||
| COST | ||||
| At | January 2023 | 709,465 | 22,091 | |
| Additions | 42,177 | - | 102,177 | |
| Disposals | (31,663) | - | (31,663) | |
| At 31 December2023 | 719,979 | 22,091 | 910,445 | |
| DEPRECIATION | ||||
| At 1 January 2023 | $18,137 | 22,091 | 639,714 | |
| Charge foryear | 54,510 | - | 71,730 | |
| Eliminated on disposal | (4,814) | - | (4,814) | |
| At 31 December2023 | 567,833 | 22,091 | 706,630 | |
| NETBOOKVALUE | ||||
| At 31 December2023 | 152,146 | - | 203,815 | |
| At31December2022 | 191,328 | - | 200,217 |
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WatBus
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
| 13. | DEBTORS: AMOUNTS FALLINGDUEWITHINONEYEAR | DEBTORS: AMOUNTS FALLINGDUEWITHINONEYEAR | ||
|---|---|---|---|---|
| 2023 | 2022 | |||
| £ | £ | |||
| Trade debtors | 575 | 47,831 | ||
| VAT | 12,376 | 11,321 | ||
| Prepayments | 21,771 | 5,044 | ||
| 34,722 | 64,196 | |||
| 14. | CREDITORS:AMOUNTSFALLINGDUEWITHIN ONEYEAR | |||
| 2023 | 2022 | |||
| £ | £ | |||
| Trade creditors | 2,818 | 3,097 | ||
| Other creditors | 12,077 | 42,081 | ||
| Accruedexpenses | 5,726 | 9,619 | ||
| 20,621 | 54,797 | |||
| 15. | MOVEMENT INFUNDS | |||
| Net | ||||
| movement | At | |||
| At 1/1/23 | in funds | 31/12/23 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 330,716 | 84,286 | 415,002 | |
| Restricted funds | ||||
| Restricted fund | 26,130 | - | 26,130 | |
| TOTALFUNDS | 356,846 | 84,286 | 441,132 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 812,272 | (727,986) | 84,286 | |
| . | ||||
| TOTALFUNDS | 812,272 | (727,986) | 84,286 |
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- MOVEMENT IN FONDS- continued
WatBus
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
Comparatives for movement in funds
----- Start of picture text -----
||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Net|
|movement|At|
|At|1/1/22|in|funds|31/12/22|
|£|£|£|
|Unrestricted|funds|
|General|fund|237,431|93,285|330,716|
|Restricted|funds|
|Restricted|fund|26,130|-|26,130|
|TOTAL FUNDS|263,561|93,285|356,846|
|Comparative|net movement|in|funds,|included|in|the|above|are|as|follows:|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|703,179|(609,894)|93,285|
|TOTAL FUNDS|703,179|(609,894)|93,285|
|A|current year|12|months|and|prior year|12|months|combined|position|is|as|follows:|
|Net|
|movement|At|
|At|1/1/22|in|funds|31/12/23|
|£|£|£|
|Unrestricted|funds|
|General|fund|237,431|177,571|415,002|
|Restricted|funds|
|Restricted|fund|26,130|-|26,130|
|TOTAL FUNDS|263,561|177,571|441,132|
----- End of picture text -----
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Notes to the Financial Statements - continued for the Year Ended 31 December 2023
15. 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:
----- Start of picture text -----
||||||
|---|---|---|---|---|
|Incoming|Resources|Movement|
|resources|expended|in funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|1,515,451|(1,337,880)|177,571|
|TOTAL FUNDS|1,515,451|(1,337,880)|177,571|
|16.|RELATED PARTY DISCLOSURES|
----- End of picture text -----
There were no related party transactions for the year ended 31 December 2023.
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||||||||
|---|---|---|---|---|---|---|
|Detailed|Statement|of Financial|Activities|
|for the Year Ended|31|December 2023|
|2023|2022|
|£|£|
|INCOME AND ENDOWMENTS|
|Donations|and|legacies|
|Donations|$4,563|32,618|
|Other trading|activities|
|WATBus|operating|income|640,506|561,956|
|WATBike|operating|income|121,531|105,274|
|WATBreak|operating income|271|-|
|762,308|667,230|
|Investment|income|
|Deposit account|interest|748|142|
|Other|income|
|Gain|on|sale of tangible|fixed|assets|(5,347)|3,189|
|Total incoming|resources|812,272|703,179|
|EXPENDITURE|
|Other trading|activities|
|Bad|debts|-|2,100|
|Charitable|activities|
|Employee|costs|364,909|298,158|
|WATBus|activities|165,399|148,249|
|WATBike|activities|54,800|55,837|
|WATBreak|activities|3,701|-|
|Depreciation|71,730|56,277|
|660,539|558,521|
|Support|costs|
|Management|
|Rent and|other|office|costs|39,051|28,995|
|Legal|and|professional|5,637|5,975|
|Carried forward|44,688|34,970|
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Detailed Statement of Financial Activities for the Year Ended 31 December 2023
----- Start of picture text -----
||||||
|---|---|---|---|---|
|2023|2022|
|£|£|
|Management|
|Brought forward|44,688|34,970|
|Accountancy|and bookkeeping|5,428|5,371|
|Travel|and|subsistence|5,014|68|
|Advertising|and|marketing|10,543|8,778|
|Bank|interest|1,774|86|
|67,447|49,273|
|Total|resources expended|727,986|609,894|
|Net income|84,286|93,285|
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This page does not form part of the statutory financial statements
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