RRAN AND DISTRICT COMM ITY BUS ASSOCIATION LIMITED AKNUAL REPORT AND ACCOLfNTS 3 1ST DECEMBER 2024 COMPANYNUMBER 4026355 istered in En land & Wales REGISTERED RITY NUMBER 10 22 GORL4N AND DISTRICT COMMtrNITY BUS ASSOCIATION LIMITED ANKUAL REPORT AND ACCOUNTS ST YEAR ENDED 31 DECEMBER 2024 CONTENTS Page Trustees, and Directors, Report A¢¢ountants' Report Statement of Financial Activities Balance Sheet Statement of Cash Flows Notes to the Accounts Management Infonnation - The following page does not fom part of the Accounts Detailed Profit and Loss Account GORRAN AND DISTRICT COMMUNITY BUS ASSOCIATION LIMITED THE TRUSTEES, AND DIRECTORS, REPORT ST YEAR ENDED 31 DECEMBER 2024 The trustees and directors present their annual report with the accounts of the company for the year ended 3 Ist December 2024. REFERENCE AND ADMINISTRA TIVE INFORMA TION Name of the charity: Gorran and District Cotnrnunity Bus Association Limited (also known as Go￿anBuS) 1082203 Charity registration number Company registration number Registered office 4026355 Koppers, Rice Lane, Goryan Haven, St Austell, Cornwall, PL26 6JD Trustees and directors J L Bayliss R Bayliss P J Fuller Dr M S Stead E M Walsh 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 consti￿tIon 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 ttustees manages the business of the company. New tsustees are elected individually at the annual general meeting to serve up to thr¢c ycars 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 Comrnission guidance on public benefit in their decision making. OBJECTIVES AND ACTtVITIES 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 is 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 We run scheduled regular bus services from St. Goran and St. Ewe to St. Austell, Trnro 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 run excursions to popular destinations plus hires to local Community groups. Our drivers are vital to our service and we currently have 13 MIDAS standard voluntary drivers. 2024 2023 Number of &ssen Number of excursions Number of hir¢s ourn s on scheduled bus services 14 13 16 FtNANCIAL REVIEW The Trustees, aim is to generate sulTici¢nt 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 th¢ technical and safety specification of the vehicle is up to date. Our current bus started service in September 2016. A new replacement bus will be in service in Febn￿Y 2025. During 2024 we made significant investment in deposits for a Teplacement bus and in preparation for a garage to house our bus. This expenditure will continue into 2025 with the delivery of our new bus and the start of the build phase for the garage. This activity will significantly reduce our cash balances next year. Grant funding has continued into 2024 but we are expecting BSOG+ to stop in April 2025 and funding from Cornwall Council may be subject to reductions. We have participated in the £2 fare cap scheme and are continuing with the £3 cap in 2025. It is encouTaging to see our patronage increase by nearly 40/0 compared with 2023. We are very grydteful to the Friends of GorrdnBus who organise ￿ndraising and help promote our service and to our passengers for their generous donations. These donations and individual donations and bequests are crucial to our fmancial 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 cu￿ent policy is Suitable. DIRECTORS, RESPONSIBILITIES Company law require5 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 yeOT then ¢nded. In preparing those accounts, the directors are required to select suitable accounting policies, as described on page 7, and then apply them on a Consistent basis, making judgrnents and estimates that are prudent and reasonable. The directors must also prepare the financial ststements 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 fmancial 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 Th¢ above report has been prepared in accordance with the Statement of Recommended Practice, Accounting and Reporting by Charitie$ (SORP 20 I5) and the Special provisions of Part l5 of the Companies Act 2006 relating to small companies. Signed on behalf of the directors Approved by the directors on . R Bayliss.... /(* ACCOUNTANTS, REPORT TO THE MEMBERS ON THE UNAUDITED ACCOtfNTS OF GORRAN AND DISTIUCT COMMUNITY BUS ASSOCIATION LIMITED We report on the accounts for the year ended 3 1st December, 2024 set out on pages 6 to I l. RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND tNDEPENDENT EXAMtNER Th¢ charity's trustees are Tesponsible 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 Ch￿itIeS Act 1993 (the 1993 Act), as amended by section 28 of the Charities Act 2006) and that an ind¢p¢ndent examination is needed. It is our responsibility to.. examine the accounts (under section 43(3)(a) of the 1993 ACL as arnended). to follow the procedures laid down in the General Directions given by the Charity Cornmission (under section 43(7Xb) of the 1993 ACL as amended). and 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 pr¢s¢nted with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trus*es concerning any such matters. The Procedures undertaken do not provide all the evidence that would be requyIed in an audit, and consequently we do not express an audit opinion on whetheT the accounts present a'true and fair view,. INDEPENDENT EXAMINER'S STATEMENT In connection with our examination, no matter has ¢ome to our attention.. (l) which gives us reasonable cause to believe that in any mateiial respect the trustees have not met the requirements to ensure that: proper accounting records are kept (in accordance with section 41 of the Act). and accounts are prepared which agree with the accounting records and comply with the accounting requirements of the (2) to which, in our opinion, attention should be drawn tn order to enable a proper understanding of the accounts to be reached. DATE &V?/ ?. BENNE￿. JONES & CO. Reporting Accountants Chartered Accountants 22 VICTORIA ROAD, St. Aust¢ll, Cornwall PL25 4QD GORRAN AND DISTRtCT COMMUNITY BUS ASSOCIATION LIMITED STATEMENT OF FtNANCIAL ACTIVITIES AND INCOME AND EXPENDITURE ACCOLfNT YEAR ENDED 31ST DECEMBER 2024 2024 2023 Note Unrestricted Funds Total Funds Unrestricted Funds Total Funds INCOME FROM: Donations and legacies 5,380 5,380 3,389 3,389 Charitable activities- Cash sales Concessionary fares Grants Total Charitable activities 2,398 9,568 2,398 9.568 2,700 9,040 2,700 9,040 19,811 19,811 18,624 18,624 tnvestments 8,187 8,187 7,051 7,051 TOTAL tNCOME 33,378 33,378 29,064 29,064 EXPENDITURE ON.. Charitable activities- Community bus running costs Depr¢ciation Management and administration Total Charitable activities 8,489 2,376 892 20,757 8,489 2,376 892 20,757 7,841 3,143 7,841 3,143 18,896 18,896 Loss on disposal of equipment 34 34 TOTAL EXPENDITURE 20,757 20,757 18,930 18,930 NET MOVEMENT tN FUNDS 12,621 12,621 10,134 10,134 RECONCLLIATION OF FUNDS Totsl funds brought forward at l January 188,222 188,222 178,088 178,088 Total ￿ndS ¢WTied forward at 31 December 200,843 200,843 188,222 188,222 GOIUIAN AND DISTIUCT COMMLfNITY BUS ASSOCIATION LIMITED BALANCE SHEET 3 1ST DECEMBER 2024 2024 2023 Note FIXED ASSETS Tangible &ssets 7,092 9,468 CURRENT ASSETS Debtors Cash at bank and in hand 38,112 156,455 9,682 170,134 TOTAL CURRENT ASSETS 194,567 179.816 CREDITORS: Amounts falling due within one year 816 1,062 NET CURRENT ASSETS 193,75 I 178,754 TOTAL ASSETS LESS CURRENT LIABILITIES 200,843 188,222 NET ASSETS 200,843 188,222 THE FitNDS OF THE CHARITY Unrestricted income ￿nd 200,843 188,222 TOTAL CHARITY FUNDS 200,843 188,222 For the year ended 3151 December 2024, 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) EnsurirAg the company keeps accountiJ]g records which comply with section 386. and (li) Preparing accounts which give a true and fair view of the state of affairs of the company &5 at the end of its fmancial y¢ar. and of its profit and loss for the fmancial year in accordance with section 393, and which otherwise cornply 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 I of Schedule 8 to the Companies Act 2006 on the basis thal in their opinion, the company qualifies as a small company. These accounts were approved by the director5 on and are signed on their behalf by: DW-S R Bayliss... GORRAN AND DISTRICT COMNtLfNITY BUS ASSOCIATION LIMITED STATEMENT OF CASH FLOWS ST YEAR ENDED 31 DECEMBER 2024 Total Funds 2024 Total Funds 2023 NET MOVEMENT IN FttNDS PER STATEMENT OF FtNANCIAL ACTIVITIES 12,621 10,134 Adjustments for: Depreciation charges Interest from investtnents (Increase)Idecrease in debtors Loss on disposal of equipment Increasel (decrease) in creditors 2,376 (8.187) (28,430) 3,143 (7,051) (7,829) 34 (285) (246) NET CASH PROVIDED BY OPERATING ACTIVITIES (21,866) (1,854) CASH FLOWS FROM INVEsT￿G ACTIVITIES Interest frorn inveslments Purchase of equipment 8,187 7,051 (581) NET CASH PROVIDED BY tNVESTtNG ACTIVITIES 8,187 6,470 CHANGE IN CASH AND CASH EQUIVALENTS IN THE YEAR (13,679) 4,616 CASH AND CASH EQUIVALENTS AT I JANUARY 170,134 165,518 CASH AND GASH EQUIVALENTS AT 31 DECEMBER 156,455 170,134 ANALYSIS OF CASH AND CASH EQUIVALENTS.. Cash at bank and in hand 156,455 170,134 GORJiAN AND DISTIUCT COMMUNITY BUS ASSOCIATION LIMITED NOTES TO THE ACCOLfNTS YEAR ENDED 3 1ST DECEMBER 2024 ACCOUNTtNG POLICIES (a) Basis of accountin The accounts have been prepared under the historical cost convention and in accordance with UK charity and company law and the Statement of Recornmended Practice, Accounting and Reporting by Charities (SORP 2015) and Financial Reporting Stand￿d 102. (b) Income from charitable activities The Incotne from Charitable Activities shown in the statement of fmancial activities represents bus fares, excursion fares and hire income received during the perio& excluding value added tax. reciation Depreciation is caLculated so as to write off the cost of assets, less their estimated residual value, over the use￿1 economic life of those assets as follows.. Plant and Equipment 20 % or 250/0 on the Reducing Balance basis (d) Taxation The company is a registered charity and is not subject to a charge to Corporation Tax. on tions and fund-raisin Donations and fund-raising income is recorded as it is received. Grants received are included as income for the year tn which they are received. (fj Fund accountin Funds held by the charity are unrestricted income fijnds, which can be used in accordance with the charitable objects at the discretion of the Trustees. (g) Debtors an creditor Debtors and creditors are measured on the basis of the cash amounts expected to be received or paid respectively. TRUSTEES, AND DIRECTORS. EMOLUMENTS None of the Trustees have been paid any remuneTation or received any other benefits from an employment with their charity or a related entity. GRANTS Cornwall Council community bus grant Pandemic recovery support from Plymouth and Cornwall councils Bus Service Operator's Grant BSOG+ Bus Fare Cap 2024 £4,250 2023 £5,000 £26 £1,509 £349 £1,744 £1,167 £684 VOLitNTEERS There are 13 volunteer bus drivers who drive an average of 2 or 3 times a month. These accounts include no value for the contribution of volunteer5. RELATED PARTtES There were no related party transactions in the year. EMPLOYEES 2024 2023 Wages £6,446 £5,523 The Trust had a headcount of 2 and headcount equivalent of 0.25. No employees received over £60,000. GORRAN AND DISTKtCT COMMUNITY BUS ASSOCIATION LIMITED NOTES TO THE ACCOUNTS ST YEAR ENDED 31 DECEMBER 2024 TANGIBLE FIXED ASSETS Plant Equipment Total COST OR VALUA TION At l January 2024 Additions Disposals At 31 December 2024 73,585 73,585 DEPRECIA TION At l January 2024 Charge for the period Disposals At 31 December 2024 64,117 2,376 64,117 2,376 NET BOOK VALUE Assets in current use At 31 December 2024 At 31 December 2023 468 46 At 31 December 2024 there was a Contractual cornrnitrn¢nt for the f]nal payment for a new bus of £41,467. DEBTORS 2024 2023 Trade debtors Prepayments and accrued income Other d¢btors 422 865 873 849 Other debtors includes advance payments for a new bus of £22,408 and preparatory work for a garage for the bus of £10,300. CREDITORS: Amounts falling due within one year 2024 2023 Trade creditors Other creditors 48 768 816 712 GORRAN AND DISTIUCT COMMUNITY BUS ASSOCTATION LIMITED DETAILED PROFIT AND LOSS ACCOLfNT ST YEAR ENDED 31 DECEMBER 2024 2024 2023 TURNOVER 11,966 11,740 COST OF SALES Direct costs GROSS PROFIT (LOSS) 3,477 3,899 OVERHEADS Administrative Expenses: Administrator's salary 6,446 5,523 General expenses: Postage, stationery and advertising G¢neraL insurance BT telephone and broadband Website hosting and domain fee Website design and 5UPPOrt Laptop repair CTA subscription Infonnation Commissioners Office annual fee Dff Operating Licence fees Gifts for administrators Age UK DBS fees Ticket machine software licence and 4G adapter Driver's party Absolute Accounting VAT link Driver medical Training: MIDAS and Safeguarding Wordperf¢¢t licence Printer for despatcher Miscellaneous 103 526 610 35 400 74 80 35 48 422 757 71 50 35 13 40 io 765 514 40 46 102 545 40 46 185 42 89 36 76 3,446 2,389 Depreciation Loss on disposal of equipment 2,376 3,143 34 (8,791) (7,190) OTHER OPERATING tNCOME Grants received Donations 7,845 6,884 OPERA TtNG PROFITI(LOSS) 4,434 3,083 Interest receivable 8,187 7,051 SURPLUSI (DEFICIT) ON ACTIVITIES 12,621 10,134 This page does not forni part of the statutory accounts.