GORRAN AND DISTRICT COMMUNITY BUS ASSOCIATION LIMITED
ANNUAL REPORT AND ACCOUNTS
318™ DECEMBER 2020
COMPANY NUMBER 4026355
Registered in England & Wales
REGISTERED CHARITY NUMBER 1082203
GORRAN AND DISTRICT COMMUNITY BUS ASSOCIATION LIMITED
ANNUAL REPORT AND ACCOUNTS
YEAR ENDED 315' DECEMBER 2020
CONTENTS
Page
|Trustees’ and Directors’ Report||| |---|---| |Accountants’ Report|3| |Statement ofFinancial Activities|4| |Balance Sheet|5| |Statement ofCash Flows|6| |Notes to the Accounts|7| |Management Information - The following page does not form part ofthe Accounts|| |DetailedProfitandLossAccount|9|
GORRAN AND DISTRICT COMMUNITY BUS ASSOCIATION LIMITED
THE TRUSTEES’ AND DIRECTORS’ REPORT
YEAR ENDED 318? DECEMBER 2020
The trustees and directors present their annual report with the accounts of the company for the year ended 31° December 2020.
REFERENCE AND ADMINISTRATIVE INFORMATION
Name of the charity: Gorran and District Community Bus Association Limited (also known as GorranBus) Charity registration 1082203 number Company registration 4026355 number Registered office Koppers, Rice Lane, Gorran Haven, St Austell, Cornwall, PL26 6JD
Trustees and directors J Bayliss R Bayliss M Bunney P J Fuller Dr M Stead
STRUCTURE GOVERNANCE AND MANAGEMENT
The company is a charitable company with limited liability by guarantee, so there is no share capital in which the Trustees and Directors can have any interest. The constitution of the company and the charity is contained within the Memorandum and Articles of Association. The charity is a public benefit entity.
A management committee consisting of the trustees manages the business of the company. New trustees are elected individually at the annual general meeting to serve up to three years at which point they are eligible for re-election. In addition the management committee may co-opt up to two new members who may serve until the next annual general meeting. The Trustees have regard to the Charity Commission guidance on public benefit in their decision making.
OBJECTIVES AND ACTIVITIES
The object and principal activity of the company is the operation of a community bus service for the residents of the parishes of St. Goran and St. Ewe in Cornwall and open to the general public. The bus provides a lifeline to those who due to age and/or inability to drive are unable to get to the shops and other services by offering a Ring & Ride service and regular services to the shops, hospital and town centres.
ACHIEVEMENTS AND PERFORMANCE
The COVID19 pandemic has caused GorranBus to cancel all operations after 20 March 2020 for the rest of the year and until the social distancing required to operate safely becomes unnecessary. This decision was made taking account of the age and vulnerability of most passengers and drivers.
The charity ran scheduled regular bus services from St. Goran and St. Ewe to St. Austell, Truro and Plymouth with a high degree of reliability and punctuality. All services can be pre-booked and a Ring and Ride service, to pick up and drop off passengers at their homes, within the parishes of St. Goran and St. Ewe is provided.
GorranBus also ran excursions to popular destinations plus hires to local community groups. Our drivers are vital to our service and we currently have 11 MIDAS standard voluntary drivers.
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TT 2020 2019
Number of passenger journeys on scheduled bus services 5,267
Number of hires
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FINANCIAL REVIEW
The Trustees’ aim is to generate sufficient funds so as to replace the Community Bus vehicle every five years. This will help ensure that the quality and reliability of service is maintained as well as ensuring that the technical and safety specification of the vehicle is up to date. Our current bus started service in September 2016 but taking account of it’s low mileage we do not intend to replace it in the near future.
GorranBus was in operation for less than three months this year. As a result we would have expected to have dipped into our reserves but there are two main reasons why we end the year with an increase to over £150,000 in the bank. The first is that we received a generous bequest left by a person who used to use our services regularly. The second is the financial support from Cornwall Council who continue to fund us as though we are operating normally. We understand that the council will continue this level of funding until at least 31 March 2021 but thereafter we suspect that we will need to operate to maintain our reserves. We are, nevertheless, in a satisfactory cash reserve position now and believe that we can survive at least a year without funding if necessary.
We are very grateful to the Friends of GorranBus who organise fundraising and help promote our service and to our passengers for their generous donations. These donations and individual donations and bequests are crucial to our financial well-being.
The most significant judgement that affects the accounts is the depreciation policy relating to our bus described in Accounting Policies on page 6. We believe that our current policy is suitable.
DIRECTORS’ RESPONSIBILITIES
Company law requires the directors to prepare accounts for each financial year which give a true and fair view of the state of affairs of the company at the end of the year and of the profit or loss for the year then ended.
In preparing those accounts, the directors are required to select suitable accounting policies, as described on page 6, and then apply them on a consistent basis, making judgments and estimates that are prudent and reasonable. The directors must also prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
SMALL COMPANY EXEMPTIONS
The above report has been prepared in accordance with the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP 2015) and the special provisions of Part 15 of theCompanies Act 2006 relating to small companies.
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Signed on behalf of the directors
Approved by the directors on LK
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ACCOUNTANTS’ REPORT TO THE MEMBERS ON THE UNAUDITED
ACCOUNTS OF GORRAN AND DISTRICT COMMUNITY BUS ASSOCIATION LIMITED
We report on the accounts for the year ended 31st December, 2020 set out on pages 3 to 8.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND INDEPENDENT EXAMINER The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under section 43(2) of the Charities Act 1993 (the 1993 Act), as amended by section 28 of the Charities Act 2006) and that an independent examination is needed.
It is our responsibility to:
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examine the accounts (under section 43(3)(a) of the 1993 Act, as amended);
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to follow the procedures laid down in the General Directions given by the Charity Commission (under section 43(7)(b) of the 1993 Act, as amended); and
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to state whether particular matters have come to our attention.
BASIS OF INDEPENDENT EXAMINER'S STATEMENT
Our examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently we do not express an audit opinion on whether the accounts present a 'true and fair view’.
INDEPENDENT EXAMINER'S STATEMENT
In connection with our examination, no matter has come to our attention:
(1) which gives us reasonable cause to believe that in any material respect the trustees have not met the requirements to ensure that:
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proper accounting records are kept (in accordance with section 41 of the Act); and
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accounts are prepared which agree with the accounting records and comply with the accounting requirements of the Act; or
(2) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
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[don A BA CK
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DATE (°76/2/
BENNETT, JONES & CO. Reporting Accountants Chartered Accountants
22 VICTORIA ROAD, St. Austell, Cornwall PL254QD
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GORRAN AND DISTRICT COMMUNITY BUS ASSOCIATION LIMITED
STATEMENT OF FINANCIAL ACTIVITIES AND INCOME AND EXPENDITURE ACCOUNT YEAR ENDED 315? DECEMBER 2020
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| Note — Unrestricted | Total | Unrestricted | Total | ||
| Funds | Funds | Funds | Funds | ||
| £ | £ | £ | £ | ||
| INCOME FROM: | |||||
| Donations and legacies | $9,934 | 59,934 | 7,406 | 7,406 | |
| Charitable activities: | |||||
| Cash sales | 363 | 363 | 3,629 | 3,629 | |
| Concessionary fares Grants |
3 | 1,541 11,429 |
1,541 11,429 |
8,205 7,019 |
8,205 7,019 |
| Total Charitable activities | 13,333 | 13,333 | 18,853 | 18,853 | |
| Investments | 263 | 263 | 462 | 462 | |
| TOTAL INCOME | 73,530 | 73,530 | 26,721 | 26,721 | |
| EXPENDITURE ON: | |||||
| Charitable activities: | |||||
| Community bus running costs | 3,663 | 3,663 | 9,033 | 9,033 | |
| Depreciation | 7,144 | 7,144 | 9,512 | 9,512 | |
| Management and administration | 4,883 | 4,883 | 4,675 | 4,675 | |
| TOTAL EXPENDITURE | 15,690 | 15,690 | 23,220 | 23,220 | |
| NETMOVEMENT INFUNDS | 57,840 | 57,840 | 3,501 | 3,501 | |
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward at 1 January | 118,125 | 118,125 | 114,624 | 114,624 | |
| Totalfundscarriedforwardat31December | 175,965 | 175,965 | 118,125 | 118,125 |
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GORRAN AND DISTRICT COMMUNITY BUS ASSOCIATION LIMITED
BALANCE SHEET
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|||||||||
|---|---|---|---|---|---|---|---|
|318T DECEMBER 2020|
|2020|2019|
|£|£|
|Note|
|FIXED|ASSETS|
|Tangible|assets|7|21,587|28,731|
|CURRENT|ASSETS|
|Debtors|8|966|1,838|
|Cash|at|bank|and|in|hand|155,682|88,383|
|TOTAL CURRENT ASSETS|156,648|90,221|
|CREDITORS:|Amounts|falling|due|
|within|one|year|9|2,270|827|
|NET CURRENT ASSETS|154,378|89,394|
|TOTAL ASSETS|LESS|CURRENT|LIABILITIES|175,965|118,125|
|NET ASSETS|175,965|118,125|
|THE|FUNDS|OF|THE|CHARITY|
|Unrestricted|income|fund|175,965|118,125|
|TOTAL CHARITY|FUNDS|175,965|118,125|
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For the year ended 31* December 2020, the company was entitled to exemption under section 477(2) of the Companies Act 2006. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibility for: (i) Ensuring the company keeps accounting records which comply with section 386; and (ii) Preparing accounts which give a true and fair view of the state of affairs of the company as at the end of its financial year, and of its profit and loss for the financial year in accordance with section 393, and which otherwise comply with the requirements of the Companies Act relating to accounts, so far as applicable to the company.
In preparing these accounts, the directors have taken advantage of the special accounting exemptions conferred by Part 1 of Schedule 8 to the Companies Act 2006 on the basis that, in their opinion, the company qualifies as a small company. These accounts were approved by the directors on ... es)/6/ care 4 / and are signed on their behalf by: mew 440m birt
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GORRAN AND DISTRICT COMMUNITY BUS ASSOCIATION LIMITED
STATEMENT OF CASH FLOWS
YEAR ENDED 3157 DECEMBER 2020
| Total | Total | |
|---|---|---|
| Funds | Funds | |
| 2020 | 2019 | |
| £ | £ | |
| NETMOVEMENT IN FUNDS PER | ||
| STATEMENTOFFINANCIALACTIVITIES | 57,840 | 3,501 |
| Adjustments for: | ||
| Depreciation charges | 7,144 | 9,512 |
| Interest from investments (Increase)/decrease in debtors |
(263) 872 |
(462) 456 |
| Increase/ (decrease) in creditors | 1,443 | 512 |
| NETCASH PROVIDED BY | ||
| OPERATING ACTIVITIES | 67,036 | 13,519 |
| CASH FLOWS FROM INVESTING | ||
| ACTIVITIES | ||
| Interest from investments | 263 | 462 |
| Purchase ofequipment | (134) | |
| NET CASH PROVIDED BY | ||
| INVESTING ACTIVITIES | 263 | 328 |
| CHANGE INCASHANDCASH__ | ||
| EQUIVALENTS INTHEYEAR | 67,299 | 13,847 |
| CASHAND CASH EQUIVALENTS | ||
| AT 1 JANUARY | 88,383 | 74,536 |
| CASHANDCASH EQUIVALENTS | ||
| AT31 DECEMBER | 155,682 | 88,383 |
| ANALYSIS OF CASH AND CASH | ||
| EQUIVALENTS: | ||
| Cashatbankandinhand | 155,682 | 88,383 |
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GORRAN AND DISTRICT COMMUNITY BUS ASSOCIATION LIMITED
NOTES TO THE ACCOUNTS
YEAR ENDED 318? DECEMBER 2020
- ACCOUNTING POLICIES
(a) Basis of accounting
The accounts have been prepared under the historical cost convention and in accordance with UK charity and company law and the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP 2015) and Financial Reporting Standard 102.
- (b) Income from charitable activities
The Income from Charitable Activities shown in the statement of financial activities represents bus fares, excursion fares and hire income received during the period, excluding value added tax.
(c) Depreciation
Depreciation is calculated so as to write off the cost of assets, less their estimated residual value, over the useful economic life of those assets as follows:
Plant and Equipment
20% or 25% on the Reducing Balance basis
(d) Taxation
The company is a registered charity and is not subject to a charge to Corporation Tax.
(e) Grants, donations and fund-raising
Donations and fund-raising income is recorded as it is received. Grants received are included as income for the year in which they are received with the exception of Bus Service Operator’s Grant which is accrued on a mileage basis consistent with the method used to calculate the grant.
(f) Fund accounting
Funds held by the charity are unrestricted income funds, which can be used in accordance with the charitable objects at the discretion of the Trustees.
(g) Debtors and creditors Debtors and creditors are measured on the basis of the cash amounts expected to be received or paid respectively.
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TRUSTEES’ AND DIRECTORS’ EMOLUMENTS None of the Trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity.
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GRANTS Grants totalling £5,250 (2019 £5,500) were received from Cornwall Council to support the continued operation of our community bus services. Additional Covid19 grant support of £5,052 (2019 £0) was also received. Bus Service Operator’s Grant from the Department for Transport was accrued totalling £1,127 (2019 £1,519).
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4 VOLUNTEERS There are 11 volunteer bus drivers who drive an average of 3 or 4 times a month. These accounts include no value for the contribution of volunteers.
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5 RELATED PARTIES
There were no related party transactions in the year.
6 EMPLOYEES 2020 2019
Wages £2,981 £2,133
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The Trust had a headcount of 2 and headcount equivalent of 0.25. No employees received over £60,000.
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GORRAN AND DISTRICT COMMUNITY BUS ASSOCIATION LIMITED
NOTES TO THE ACCOUNTS
YEAR ENDED 315? DECEMBER 2020
| 7. | TANGIBLE FIXED ASSETS | ||
|---|---|---|---|
| Plant | |||
| and | |||
| Equipment | Total | ||
| £ | £ | ||
| COST OR VALUATION | |||
| At | January 2020 | 73,278 | |
| Additions in the period | 0 | 0 | |
| Disposals in the period | 0 | 0 | |
| At 31 December 2020 | 73,278 | 73,278 | |
| DEPRECIATION | |||
| At | January 2020 | 44,547 | |
| Charge for the period | 7,144 | 7,144 | |
| Disposals in the period | 0 | 0 | |
| At 31 December2020 | 51,691 | 51,691 | |
| NET BOOK VALUE | |||
| Assets in current use | |||
| At 31 December 2020 | 21,587 | 21,587 | |
| At 31 December2019 | 28,731 | 28,731 | |
| At 31 December2020 there were no significant contractual commitments. | |||
| 8. | DEBTORS | 2020 | 2019 |
| £ | £ | ||
| Trade debtors | 56 | ||
| Prepayments and accrued income | 892 | 1,123 | |
| Other debtors | 74 | 659 | |
| 966 | 1,838 | ||
| 9. | CREDITORS: Amounts falling due within one year | 2020 | 2019 |
| £ | £ | ||
| Trade creditors | 2,166 | 652 | |
| Other creditors | 104 | 175 | |
| 2,270 | 827 |
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