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2023-03-31-accounts

REGISTERED COMPANY NUMBER: 03898093 (England and Wales) REGISTERED CHARITY NUMBER: 1079421

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023

FOR

RYE & DISTRICT COMMUNITY TRANSPORT

Gibbons Mannington & Phipps LLP Chartered Accountants

82 High Street Tenterden Kent TN30 6JG

RYE & DISTRICT COMMUNITY TRANSPORT

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023

Page Page Page
Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Financial Statements 7 to 13
Detailed Statement of Financial Activities 14 to 15

RYE & DISTRICT COMMUNITY TRANSPORT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st 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).

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities published on 16 July 2014.

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objectives of the Charity are to provide and maintain non-profit community transport services and to assist the charitable work of other organisations providing relief to the inhabitants of Rye and district who are in need because of age, mental or physical disability or otherwise. The focus of the Charity's activities must always be public benefit - the Charity's strength is entirely due to its position within the community.

The trustees have regard to the Charity Commissions guidance on public benefit.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

RDCT has maintained its delivery of core services to the community (under Section 19 & 22 permits) as efficiently and cost effectively as possible given the cost of living pressures and the big increase in fuel costs. This has emphasised the importance of its services for local primary schools, helping to provide pupils with as good a range of academic and sporting activities as possible as their education recovers from Covid-19 restrictions, and also of the Homewood School service which provides transport for a significant number of SEND children (far greater than pre-Covid). The Dial-a-Ride now carries more passengers going to well-being activities (the Hub on Rye Hill is a key destination) although many of the medical appointments catered for are for residents of the villages around Rye who come to the Rye surgeries (medical and dental) and Rye Hospital for treatment. The 326 Rye Town bus service (operated under a Section 22 permit) continues to be an invaluable resource for the town

FINANCIAL REVIEW

Financial review

During the past year the Directors' efforts have continued to concentrate on stabilising the Charity's financial position and focussing on a business strategy to ensure ongoing viability. The cost base for RDCT is high but the Permits only allow for recovery of certain operating costs from passengers and excludes any administrative expense. This means that the charity relies heavily on community funding for support. Organisations such as the Friends of Rye Hospital; Rye Town Council; the Rye Fund, Icklesham Parish Council and Jempsons have all supported the Charity during the year and much is also done by other fund raising initiatives. It is also extremely grateful for very generous donations from the public who have used the service and value its contribution to their transport needs

We have also ensured that reserves should be sufficient to permit operations to continue for at least 12 months in the event of a major downturn in income and to help build up funds for any future bus replacement. This has been against a tough economic background of increased fuel and maintenance costs particularly but also in the face of squeezed income. Every effort is made to cut operational costs where possible

The results for the year ended 31 March 2023 produced a break even position before depreciation which was within budget forecast and considered satisfactory bearing in mind operational and economic circumstances.

The Trustees would like to thank the Operations Manager for her unstinting commitment to the Bus Company, the employees and all the volunteers who do so much to ensure we continue to provide an excellent and much appreciated community service.

Page 1

RYE & DISTRICT COMMUNITY TRANSPORT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023

FINANCIAL REVIEW

Reserves policy

Part of the considerable surplus from the Section 106 monies awarded in 2019 for the purchase of the new bus for the 326 service is ring-fenced for running costs over 3 years and cannot be regarded as a reserve. The year under review sees the final year of this condition, However, noting the ongoing funding needs, the Charity is aware of the need to build up reserves and considers that £20,000 would be a prudent figure.

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.

Recruitment and appointment of new trustees

Trustees are recruited and appointed from members of the local community who wish to assist the charity.

Risk management

The Trustees continue to work to ensure that risks to which the charity is exposed are identified and dealt with appropriately, with particular regard to fraud and error and the safety of passengers and drivers.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

03898093 (England and Wales)

Registered Charity number

1079421

Registered office

Rye Wharf Harbour Road Rye Harbour Rye East Sussex TN31 7TE

Trustees

M J Miller B M Nealon I J Foster

No director has any beneficial interest in the charitable company. All directors are appointed representatives of member organisations who have guaranteed to contribute £1 in the event of a winding up. The number of guarantees at 31 March 2023 was 25.

Company Secretary

I J Foster

Independent Examiner

Richard Appleyard FCA Gibbons Mannington & Phipps LLP Chartered Accountants 82 High Street Tenterden Kent TN30 6JG

Page 2

RYE & DISTRICT COMMUNITY TRANSPORT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 29th November 2023 and signed on its behalf by:

B M Nealon - Trustee

Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF RYE & DISTRICT COMMUNITY TRANSPORT

Independent examiner's report to the trustees of Rye & District Community Transport ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st March 2023.

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 I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. 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

  3. 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.

Richard Appleyard FCA

Gibbons Mannington & Phipps LLP Chartered Accountants 82 High Street Tenterden Kent TN30 6JG

1st December 2023

Page 4

RYE & DISTRICT COMMUNITY TRANSPORT

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31ST MARCH 2023

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
40,496
Charitable activities
Operation of bus service
70,521
Other trading activities
3
8,642
Investment income
4
201
Total
119,860
EXPENDITURE ON
Raising funds
2,565
Charitable activities
Operation of bus service
118,944
Total
121,509
NET INCOME/(EXPENDITURE)
(1,649)
RECONCILIATION OF FUNDS
Total funds brought forward
33,772
TOTAL FUNDS CARRIED FORWARD
32,123		 Restricted
funds
£
-
-
-
-
-
-
4,008
4,008
(4,008)
16,265
12,257		 2023
Total
funds
£
40,496
70,521
8,642
201
119,860
2,565
122,952
125,517
(5,657)
50,037
44,380		 2022
Total
funds
£
29,926
62,645
5,330
7
97,908
2,311
103,950
106,261
(8,353)
58,390
50,037

The notes form part of these financial statements

Page 5

RYE & DISTRICT COMMUNITY TRANSPORT

BALANCE SHEET 31ST MARCH 2023

Unrestricted
Restricted
fund
funds
Notes
£
£
FIXED ASSETS
Tangible assets
10
3,842
11,856
CURRENT ASSETS
Debtors
11
3,645
82
Cash at bank and in hand
31,343
319
34,988
401
CREDITORS
Amounts falling due within one year
12
(6,707)
-
NET CURRENT ASSETS
28,281
401
TOTAL ASSETS LESS CURRENT
LIABILITIES
32,123
12,257
NET ASSETS
32,123
12,257
FUNDS
13
Unrestricted funds:
General fund
Restricted funds
TOTAL FUNDS		 2023
Total
funds
£
15,698
3,727
31,662
35,389
(6,707)
28,682
44,380
44,380
32,123
12,257
44,380		 2022
Total
funds
£
20,920
4,901
40,476
45,377
(16,260)
29,117
50,037
50,037
33,772
16,265
50,037

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 29th November 2023 and were signed on its behalf by:

B M Nealon - Trustee

The notes form part of these financial statements

Page 6

RYE & DISTRICT COMMUNITY TRANSPORT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023

1. STATUTORY INFORMATION

Rye & District Community Transport is a private charitable company limited by guarantee, registered in England and Wales. The company's registered number and registered office address can be found in the reference and administrative details in the Report of the Trustees.

2. ACCOUNTING POLICIES

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.

Government grants

Government grants are recognised and accounted for under the performance model.

Grants that do not specify any future performance-related conditions are recorded when the grant proceeds are received or receivable. Any grant that imposes specified future performance-related conditions is recognised only when the performance-related conditions are met. Grants received before the revenue recognition criteria are satisfied are recognised as a liability.

Tangible fixed assets

Fixed assets are recorded at cost or, in cases where fixed assets have been donated to the Charity, at valuation at the time of acquisition.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Office equipment 20% on written down value Motor vehicles 25% on written down value

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

As all the activities of the charity are within its primary objective to provide non-profit community transport services, it has not been considered necessary to designate any funds or show any funds as restricted.

Where funds are received for a significant and specific project these are allocated to restricted funds.

Donated services

Donated services are included at a value equivalent to market value at the date of donation.

continued...

Page 7

RYE & DISTRICT COMMUNITY TRANSPORT

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023

2. ACCOUNTING POLICIES - continued

Debtors and creditors

Debtors and creditors are recognised at their settlement amount after allowing for any trade discounts.

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.

3. OTHER TRADING ACTIVITIES

3.
OTHER TRADING ACTIVITIES
Fundraising events
Social lotteries
4.
INVESTMENT INCOME
Deposit account interest
5.
SUPPORT COSTS
Management
£
Operation of bus service
17,173
Support costs, included in the above, are as follows:		 2023
£
3,252
5,390
8,642
2023
£
201
Governance
Finance
costs
£
£
356
1,330		 2022
£
-
5,330
5,330
2022
£
7
Totals
£
18,859		 2022
£
-
5,330
5,330
2022
£
7

Governance costs

Governance costs
2023 2022
Operation
of bus Total
service activities
£ £
Independent examination 432 1,130
Accountancy fees 898 155
1,330 1,285
6. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
2023 2022
£ £
Depreciation - owned assets 5,222 6,949

continued...

Page 8

RYE & DISTRICT COMMUNITY TRANSPORT NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023

7. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31st March 2023 nor for the year ended 31st March 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31st March 2023 nor for the year ended 31st March 2022.

8. STAFF COSTS

2023 2022
£ £
Wages and salaries 60,962 43,968
60,962 43,968

The average monthly number of employees during the year was as follows:

Drivers
Administration
No employees received emoluments in excess of £60,000.
There were no higher paid staff for the year ended 31st March 2023
31st March 2022.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
29,926
Charitable activities
Operation of bus service
62,645
Other trading activities
5,330
Investment income
7
Total
97,908
EXPENDITURE ON
Raising funds
2,311
Charitable activities
Operation of bus service
98,662
Total
100,973
NET INCOME/(EXPENDITURE)
(3,065)		 2023
2022
3
2
1
1
4
3
nor for the year ende
Restricted
Total
funds
funds
£
£
-
29,926
-
62,645
-
5,330
-
7
-
97,908
-
2,311
5,288
103,950
5,288
106,261
(5,288)
(8,353)

There were no higher paid staff for the year ended 31st March 2023 nor for the year ended 31st March 2022.

9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

continued...

Page 9

RYE & DISTRICT COMMUNITY TRANSPORT

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023

9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted Restricted Total
fund funds funds
£ £ £
RECONCILIATION OF FUNDS
Total funds brought forward 36,837 21,553 58,390
TOTAL FUNDS CARRIED FORWARD 33,772 16,265 50,037
10. TANGIBLE FIXED ASSETS
Office Motor
equipment vehicles Totals
£ £ £
COST
At 1st April 2022 and 31st March 2023 1,589 63,368 64,957
DEPRECIATION
At 1st April 2022 1,307 42,730 44,037
Charge for year 60 5,162 5,222
At 31st March 2023 1,367 47,892 49,259
NET BOOK VALUE
At 31st March 2023 222 15,476 15,698
At 31st March 2022 282 20,638 20,920
11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 475 374
Other debtors 1,759 3,066
Prepayments 1,493 1,461
3,727 4,901
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Social security and other taxes 729 515
Other creditors 5,978 8,434
Deferred income - 7,311
6,707 16,260

continued...

Page 10

RYE & DISTRICT COMMUNITY TRANSPORT

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023

13. MOVEMENT IN FUNDS

MOVEMENT IN FUNDS
Net
movement At
At 1/4/22 in funds 31/3/23
£ £ £
Unrestricted funds
General fund 33,772 (1,649) 32,123
Restricted funds
20/20 798 (199) 599
Bus Fund 15,467 (3,809) 11,658
16,265 (4,008) 12,257
TOTAL FUNDS 50,037 (5,657) 44,380
Net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 119,860 (121,509) (1,649)
Restricted funds
20/20 - (199) (199)
Bus Fund - (3,809) (3,809)
- (4,008) (4,008)
TOTAL FUNDS 119,860 (125,517) (5,657)
Comparatives for movement in funds
Net
movement At
At 1/4/21 in funds 31/3/22
£ £ £
Unrestricted funds
General fund 36,837 (3,065) 33,772
Restricted funds
20/20 1,063 (265) 798
Bus Fund 20,490 (5,023) 15,467
21,553 (5,288) 16,265
TOTAL FUNDS 58,390 (8,353) 50,037

continued...

Page 11

RYE & DISTRICT COMMUNITY TRANSPORT NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023

13. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 97,908 (100,973) (3,065)
Restricted funds
20/20 - (265) (265)
Bus Fund - (5,023) (5,023)
- (5,288) (5,288)
TOTAL FUNDS 97,908 (106,261) (8,353)

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1/4/21 in funds 31/3/23
£ £ £
Unrestricted funds
General fund 36,837 (4,714) 32,123
Restricted funds
20/20 1,063 (464) 599
Bus Fund 20,490 (8,832) 11,658
21,553 (9,296) 12,257
TOTAL FUNDS 58,390 (14,010) 44,380

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
Restricted funds
20/20
Bus Fund
TOTAL FUNDS		 Incoming
resources
£
217,768
-
-
-
217,768		 Resources
expended
£
(222,482)
(464)
(8,832)
(9,296)
(231,778)		 Movement
in funds
£
(4,714)
(464)
(8,832)
(9,296)
(14,010)

The 20/20 fundraising appeal was set up to mark the Charity's 20th anniversary and allowed the replacement of 2 buses. All funds have been spent and the balance on the fund represents the carrying value of the fixed assets acquired.

continued...

Page 12

RYE & DISTRICT COMMUNITY TRANSPORT

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023

13. MOVEMENT IN FUNDS - continued

The restricted fund is made up of a grant received to help towards the running costs of the 326 service which will cover three financial years and will be drawn down on an adhoc basis, the full amount has been deferred at the balance sheet date and is represented by the cash at bank figure.

The bus fund consists of grants and donations which were used to complete the purchase of the new Dial-a-Ride bus and the purchase and fit-out of the replacement to FN04 NLM (written off in an accident). A small amount of these funds still remains and will be used to cover the costs of any further equipment required.

14. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31st March 2023.

15. ULTIMATE CONTROLLING PARTY

The company is controlled by the Board of Trustees.

16. GOVERNMENT GRANT INCOME

The charity received £4,000 in the year in the form of financial assistance from local government.

Included in the above figure, is £4,000 which was unrestricted in relation to helping towards the general running costs of the charity.

The funds received from Government and its Agencies were:- £2,000 from Icklesham Parish Council and £2,000 from Rye Town Council.

Page 13

RYE & DISTRICT COMMUNITY TRANSPORT

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2023

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Grants received
Other trading activities
Fundraising events
Social lotteries
Investment income
Deposit account interest
Charitable activities
Service bus fares
Dial-a-Ride income
Bus hirings
Contract services
Fuel rebates
Total incoming resources
EXPENDITURE
Raising donations and legacies
200 Club prizes
Other fundraising
Charitable activities
Wages
Fuel costs
Licences and maintenance of buses
Rent and premises costs
Telephone
Advertising costs
Insurance
Computer costs
Depreciation of office equipment
Depreciation of vehicles
Support costs
Management
Wages
Carried forward		 2023
£
20,185
20,311
40,496
3,252
5,390
8,642
201
1,874
3,688
10,497
54,074
388
70,521
119,860
2,375
190
2,565
43,802
19,973
16,309
8,972
1,079
288
8,269
180
60
5,161
104,093
17,160
17,160		 2022
£
4,344
25,582
29,926
-
5,330
5,330
7
2,041
2,813
5,547
51,075
1,169
62,645
97,908
2,311
-
2,311
26,808
15,117
18,485
8,073
1,753
288
7,700
50
71
6,878
85,223
17,160
17,160

This page does not form part of the statutory financial statements

Page 14

RYE & DISTRICT COMMUNITY TRANSPORT

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2023

Management
Brought forward
Sundry office expenses
Finance
Bank charges
Governance costs
Independent examination
Accountancy fees
Total resources expended
Net expenditure		 2023
£
17,160
13
17,173
356
432
898
1,330
125,517
(5,657)		 2022
£
17,160
-
17,160
282
1,130
155
1,285
106,261
(8,353)

This page does not form part of the statutory financial statements

Page 15