2021-03-31-accounts

Company registration number: 03891123 Charity registration number: 1080454

Winslow And District Community Bus

(A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 March 2021

Partners In Enterprise Ltd Accountant & Tax Advisor First Floor Office 5 Bartholomew's Brighton East Sussex BN1 1HG

Winslow And District Community Bus

Contents

Reference and Administrative Details	1
Strategic Report	2
Trustees' Report	3 to 4
Statement of Trustees' Responsibilities	5
Independent Examiner's Report	6
Statement of Financial Activities	7
Balance Sheet	8
Notes to the Financial Statements 9 to 17

Winslow And District Community Bus

Reference and Administrative Details

Chairman

Ms P J Cawte, Chairperson and Trustee

Trustees

Miss S Cadge, Secretary and Trustee Ms P J Cawte, Chairperson and Trustee Mr A Terry Ms J Pentony Mr P Lemagnen Ms E Latham (Resigned 5[th] November 2020) Secretary

Miss S Cadge, Secretary and Trustee

Principal Office

28 High Street Winslow Bucks MK18 3HF

The charity is incorporated in England.

Company Registration Number

03891123

Charity Registration Number

1080454

Independent Examiner

Partners In Enterprise Ltd Accountant & Tax Advisor First Floor Office 5 Bartholomew's Brighton East Sussex BN1 1HG

Page 1

Winslow And District Community Bus

Strategic Report for the Year Ended 31 March 2021

The trustees, who are directors for the purposes of company law, present their strategic report for the year ended 31 March 2021, in compliance with s414C of the Companies Act 2006.

Financial review

The total of year 2020/21 was during covid lockdowns or restrictions, which had a big impact on the bus’s activities.

INCOME

Total income is down this year.

We were lucky to receive income from Buckinghamshire County Council and Milton Keynes Council for the bus routes that we usually provided, even though for much of the year we were unable to run them. However, we did not have any outings or group hires, so our trading activity income was down.

Donations and legacies are down on the previous year, partly caused by when we receive them, and also because we received a large legacy in 2019/20.

EXPENDITURE

This is much lower too, this year. Motor expenses are reduced, though we have had to have all the regular checks and maintenance, as the fuel used has been very much less this year.

Generally, most other expenses are lower, because we could not provide most of our activities.

The bus is now fully depreciated, so this expense will not appear until we replace it.

In summary, we have survived the year of COVID-19 well and have sufficient funds in our investment account to replace the bus, should it be necessary.

Policy on reserves

Our current reserve, which has been built up over many years, is £126,611. Reserves need to be maintained at a level that enables the charity to replace the bus as necessary.

The strategic report was approved by the trustees of the charity on 13[th] October 2021 and signed on its behalf by:

......................................... Ms P J Cawte Chairman and Trustee

Page 2

Winslow And District Community Bus

Trustees' Report

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2021.

Objectives and activities

Objects and aims

The objects of the charity are to operate and maintain, on a non-profit making basis, a community transport service for the benefit of the inhabitants of Winslow and District and in particular the relief of disadvantage, poverty, sickness, old age and distress through the provision of such a transport service.

Objectives, strategies and activities

The objectives were satisfied by operating a community bus service during the year.

Public benefit

The charity has provided an opportunity for people, who may otherwise be isolated within their own homes, to go out and about in company and retain their independence.

The charity has relieved local services, and relatives, from having to provide some of the transport needs and support in general.

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Structure, governance and management

Nature of governing document

The company is limited by guarantee and is registered as a charity. The running of the company is governed by its Memorandum and Articles of Association. It is governed by a Board of Trustees, which is responsible for setting strategic direction of the organisation and for establishing policy. New Trustees join the Board at the invitation of the Board and are chosen with a view to ensuring that the Board contains an appropriate balance of experience relevant to the operation of Winslow and District Community Bus.

Recruitment and appointment of trustees

Recruitment of new trustees follow the policy of the charity.

Financial instruments

Objectives and policies

The charity does not use derivative financial instruments for speculative purposes.

Cash flow risk

Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows.

Credit risk

The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.

Liquidity risk

Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements.

Page 3

Winslow And District Community Bus

Trustees' Report

The annual report was approved by the trustees of the charity on 13[th] October 2021 and signed on its behalf by:

......................................... Ms P J Cawte Chairman and Trustee

Page 4

Winslow And District Community Bus

Statement of Trustees' Responsibilities

The trustees (who are also the directors of Winslow And District Community Bus for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:

• select suitable accounting policies and apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the trustees of the charity on 13[th] October 2021 and signed on its behalf by:

......................................... Ms P J Cawte Chairman and Trustee

Page 5

Winslow And District Community Bus

Independent Examiner's Report to the trustees of Winslow And District Community Bus

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2021 which are set out on pages 7 to 17.

Respective responsibilities of trustees and examiner

As the charity’s trustees of Winslow And District Community Bus (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 Winslow And District Community Bus 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 Winslow And District Community Bus 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.

...................................... Robin Headlam Accountant & Tax Advisor

First Floor Office 5 Bartholomew's Brighton East Sussex BN1 1HG

13[th] October 2021

Page 6

Winslow And District Community Bus

Statement of Financial Activities for the Year Ended 31 March 2021 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Unrestricted funds Total 2021	Unrestricted funds Total 2021
Note £ £
Income and Endowments from:
Donations and legacies 3	7,867 7,867
Other trading activities 5	21,139 21,139
Investment income 6	131 131
Other income 7	- -
Total income
	29,137 29,137
Expenditure on:
Charitable activities 9	(38,749) (38,749)
Total expenditure
	(38,749) (38,749)
Net expenditure
	(9,612) (9,612)
Net movement in funds
	(9,612) (9,612)
Reconciliation of funds
Total funds brought forward
	136,223 136,223
Total funds carried forward 17
	126,611 126,611
	Unrestricted Total
	funds 2020
Note	£ £
Income and Endowments from:
Donations and legacies 3	10,972 10,972
Other trading activities 5	32,846 32,846
Investment income 6	649 649
Other income 7	200 200
Total income
	44,667 44,667
Expenditure on:
Charitable activities 9	(54,700) (54,700)
Total expenditure
	(54,700) (54,700)
Net expenditure
	(10,033) (10,033)
Net movement in funds
	(10,033) (10,033)
Reconciliation of funds
Total funds brought forward
	146,256 146,256
Total funds carried forward 17
	136,223 136,223

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2020 is shown in note 18.

Page 7

Winslow And District Community Bus

(Registration number: 03891123) Balance Sheet as at 31 March 2021

	2021 2020
Note	£ £
Fixed assets
Tangible assets 13	201 14,754
Current assets
Debtors 14	2,892 3,147
Cash at bank and in hand 15	123,709 119,262
	126,601 122,409
Creditors: Amounts falling due within oneyear 16
	(191) (940)
Net currentassets
	126,410 121,469
Netassets
	126,611 136,223
Funds of the charity:
Unrestricted income funds
Unrestricted funds	126,611 136,223
Total funds 17
	126,611 136,223

For the financial year ending 31 March 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and

• The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

The financial statements on pages 7 to 17 were approved by the trustees, and authorised for issue on 13[th] October 2021 and signed on their behalf by:

......................................... Miss S Cadge Company Secretary and Trustee

Page 8

Winslow And District Community Bus

Notes to the Financial Statements for the Year Ended 31 March 2021

1 Charity status

The charity is a charity limited by guarantee and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.

The address of its registered office is: 28 High Street Winslow Bucks MK18 3HF

These financial statements were authorised for issue by the trustees on 9 November 2020.

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.

Basis of preparation

Winslow And District Community Bus meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

Exemption from preparing a cash flow statement

The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.

Income and endowments

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.

Page 9

Winslow And District Community Bus

Notes to the Financial Statements for the Year Ended 31 March 2021

Donations and legacies

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

Investment income

Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets costing £500.00 or more are initially recorded at cost.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Page 10

Winslow And District Community Bus

Notes to the Financial Statements for the Year Ended 31 March 2021

Asset class Depreciation method and rate Equipment 33% straight line Motor vehicles 20% straight line

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Page 11

Winslow And District Community Bus

Notes to the Financial Statements for the Year Ended 31 March 2021

Foreign exchange

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that date.

The results of overseas operations are translated at the average rates of exchange during the period and their balance sheets at the rates ruling at the balance sheet date. Exchange differences arising on translation of the opening net assets and results of overseas operations are reported in other comprehensive income and accumulated in equity (attributed to non-controlling interests as appropriate).

Other exchange differences are recognised in the Statement of Financial Activities in the period in which they arise except for:

1) exchange differences on transactions entered into to hedge certain foreign currency risks (see above);

2) exchange differences arising on gains or losses on non-monetary items which are recognised in other comprehensive income; and

3) in the case of the consolidated financial statements, exchange differences on monetary items receivable from or payable to a foreign operation for which settlement is neither planned nor likely to occur (therefore forming part of the net investment in the foreign operation), which are recognised in other comprehensive income and reported under equity.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.

Financial instruments

Classification

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments

Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.

Page 12

Winslow And District Community Bus

Notes to the Financial Statements for the Year Ended 31 March 2021

Investments

Interest is earned on balances held in bank accounts.

Derivative financial instruments

The charity does not hold or issue derivative financial instruments for speculative purposes.

3 Income from donations and legacies

3 Income from donations and legacies
	Unrestricted
	funds
	Total Total
	General 2021 2020
	£ £ £
Donations and legacies;
Donations to major appeals	7,867 7,867 10,972
	7,867 7,867 10,972
4 Income from charitable activities
	Total 2021
	£
5 Income from other trading activities
	Unrestricted
	funds
	Total Total
	General 2021 2020
	£ £ £
Trading income;
Sales ofgoods and services	21,139 21,139 32,846
	21,139 21,139 32,846
6 Investment income
	Unrestricted
	funds
	Total Total
	General 2021 2020
	£ £ £
Interest receivable and similar income;
Interest receivable on bank deposits	131 131 649

Page 13

Winslow And District Community Bus

Notes to the Financial Statements for the Year Ended 31 March 2021

7 Other income
	Unrestricted
	funds
	Total Total
	General 2021 2020
	£ £ £
Fees and supplies	nil nil 200
8 Expenditure on raising funds
	Total 2021
	£
9 Expenditure on charitable activities
	Unrestricted
	funds
	Total Total
	General 2021 2020
	£ £ £
Main activity	53,556 53,556 53,556
	Activity
	undertaken Total Total
	directly 2021 2020
	£ £ £
Wages and salaries	13,054 13,054 12,784
Motor expenses	6,804 6,804 11,997
Depreciation	14,553 14,553 15,685
Excursion expenses	- - 1,953
Temporary staff	- - 4,619
Staff training	- - 599
Staff welfare	191 191 1,673
Insurance	626 626 365
Telephone	1,231 1,231 2,263
Office expenses	672 672 1,428
Advertising	322 322 70
Pension	205 205 120
	37,658 37,658 53,556

In addition to the expenditure analysed above, there are also governance costs of £1,091 (2020 - £1,144) which relate directly to charitable activities.

Page 14

Winslow And District Community Bus

Notes to the Financial Statements for the Year Ended 31 March 2021

10 Net incoming/outgoing resources

Net outgoing resources for the year include:

	2021	2020
	£	£
Other non-audit services	1,040	1,040
Depreciation of fixed assets	14,553	15,685

11 Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

No trustees have received any other benefits from the charity during the year.

12 Taxation

The charity is a registered charity and is therefore exempt from taxation.

13 Tangible fixed assets

13 Tangible fixed assets
	Furniture and
	equipment	Motor vehicles	Total
	£	£	£
Cost
At 1 April 2020	7,980	71,020	79,000
At 31 March 2021	7,980	71,020	79,000
Depreciation
At 1 April 2020	7,430	56,816	64,246
Charge for theyear	349	14,204	14,553
At 31 March 2021	7,779	71,020	78,799
Net book value
At 31 March 2021	201	-	201
At 31 March 2020	550	14,204	14,754

14 Debtors

	2021 2020
	£ £
Trade debtors	188 103
Prepayments	2,676 2,953
Other debtors	28 91
	2,892 3,147

Page 15

Winslow And District Community Bus

Notes to the Financial Statements for the Year Ended 31 March 2021

15 Cash and cash equivalents

15	Cash and cash equivalents
		2021	2020
		£	£
Cash at bank		123,709	119,262
15	Creditors: amounts falling due within one year
		2021	2020
		£	£
VAT grant repayable		(251)	(608)
Other creditors		442	1,548
		191	940

17 Funds

17 Funds
	Balance at 1		Incoming	Resources	Balance at 31
	April	2020	resources	expended	March	2021
	£		£	£	£
Unrestricted funds
General		136,223	29,137	(38,749)		126,611
	Balance at 1		Incoming	Resources	Balance at 31
	April	2019	resources	expended	March	2020
	£		£	£	£
Unrestricted funds
General		146,256	44,667	(54,700)		136,223

18 Analysis of net assets between funds

18 Analysis of net assets between funds
	Unrestricted
	funds 2021
	General Total funds
	£ £
Tangible fixed assets	201 200
Current assets	126,601 126,601
Current liabilities	(191) (94)
Total net assets
	126,611 126,611

Page 16

Winslow And District Community Bus

Notes to the Financial Statements for the Year Ended 31 March 2021

	2020 Unrestricted
	funds 2020
	General Total funds
	£ £
Tangible fixed assets	14,754 14,754
Current assets	122,409 122,409
Current liabilities	(940) (940)
Total net assets
	136,223 136,223

Page 17