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2021-03-31-accounts

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TRANS-VOL (A company limited by guarantee)

REPORT AND FINANCIAL STATEMENTS YEAR ENDED 315T MARCH 2021

Charity No: 1082389 Company No: 4033874

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TRANS-VOL

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|||||| |---|---|---|---|---| |Contents|Page| |Report|of the Management|Committee|1-5| |.| |Report|of the|Auditors|6-8| |Statement|of Financial|Activities|9| |Balance|Sheet|10| |Notes|forming|part of the Financial|Statements|11-17|

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TRANS-VOL

REPORT OF THE MANAGEMENT COMMITTEE FOR THE YEAR ENDED 315" MARCH 2021

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Introduction

The committee submits their report and the accounts of the charity for the year ended 31" March 2021.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and 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) (issued in October 2019).

LEGAL AND ADMINISTRATIVE INFORMATION

Charity Number: 1082389

Company Number:

4033874

Committee Members N. Woodbridge T. Fish

N. Woodbridge Director/Trustee and Chairperson T. Fish Director/Trustee J.H. Paddick Director/Trustee A.P. White Director/Trustee

Senior Management

D. Cheeseman

Principal Office Thameside Complex Orsett Road Grays Essex RM17 S5DX

Auditors Rowland Hall 44/54 Orsett Road Grays Essex RM17 SED

Bankers Lloyds Bank Ple 34 High Street Grays Essex RM17 6LX

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TRANS-VOL REPORT OF THE MANAGEMENT COMMITTEE FOR THE YEAR ENDED 315T MARCH 2021 (CONTINUED)

OBJECTS, AIMS, OBJECTIVES AND ACTIVITIES

Charitable Objects

The charitable objects of the charity are to provide relief to the inhabitants of Thurrock and its environs who have need thereof, and in particular but not so as to limit the generality of the foregoing:

We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the Management Committee consider how planned activities will contribute to the aims and objectives they have set.

Objectives for the Year

  1. To generate additional core funding.

2, To promote all of Trans-Vol’s services throughout the community and increase the level of awareness.

Strategies to Achieve the Year’s Objectives

  1. To research and apply for assistance and support to suitable grant making organisations and local/national businesses to promote the benefits of supporting Trans-Vol and its objectives within Thurrock.

  2. To generate funds to support its charitable purposes by bidding for contracts for service that fall within the bounds of its charitable purposes.

  3. To continue to review the charity’s expenditure with an aim to reduce unnecessary costs and to renegotiate the terms and discount levels of all suppliers’ contracts.

  4. To review the level of passenger contributions to the cost of travel with Trans-Vol and, if required, implement any increase agreed through the Management Committee.

  5. To re-visit Trans-Vol’s website to ensure all information is up to date and relevant.

  6. To ensure that all of Trans-Vol’s promotional information is up to date, appropriate and readily available at all public buildings and other allied outlets.

Prinelpal Activities of the Year

Due to the Covid-19 pandemic, and ensuing government restrictions, the charity was unable to provide subsidised transport services for its members throughout Thurrock for either the Social Car Service (Volunteers using their own cars to help members who find it difficult to use public transport), or Minibus Service (or those members who have to travel in or with their wheelchairs or any member who, by way of impairment, needs an accessible vehicle), during the year.

However, the School Transport routes continued to run daily (including during the Easter Break) for the most vulnerable children, albeit the Council decided to reduce the value of each contract to 80% of its normal value as there were fewer children on each route. The Charity was also asked by the Disabled Children’s Team at the Council to transport 3 of extremely vulnerable children to respite centres in Brentwood and Leigh-on-Sea for which a separate monetary rate was agreed.

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TRANS-VOL REPORT OF THE MANAGEMENT COMMITTEE FOR THE YEAR ENDED 315? MARCH 2021 (CONTINUED)

Principal Activities of the Year (continued)

During the height of the pandemic, the National Lottery offered additional funds to support Charities such as ours. We were fortunate enough to receive £48k asking “to use this funding to continue to Transport our elderly, vulnerable and Disabled Passengers - Transporting them to medical appointments, Shopping Trips, Befriending Clubs, Alzheimer, Dementia and Stroke Support Groups/Day Care Centres - Providing safe, affordable, reliable door-to-door accessible transport within Thurrockfor our elderly and vulnerable Residents - who may have no other form of transport or they find wheelchair accessible vehicles and private taxis too expensive”. As part of this it supported us to enable people to attend their COVID vaccination appointments — we did some 336 trips towards this and the money allowed us to maintain our other services during this period too — providing transport for shopping, respite, car and minibus to enable people to maintain their contacts,

At 31" March 2021 the total number of registered users of Trans-Vol remained at 1,486, and the annual fee was waived for all.

Over the year Trans-Vol completed 11,632 journeys.

FINANCIAL REVIEW AND RESULTS FOR THE YEAR

A summary of the results for the year is given on page 8 of the financial statements.

The charity has continued to operate with no charitable financial assistance from the local authority. As mentioned above, the Council requested that the transport of disabled children continue, but as occupancy was reduced, they Council decided that it would only pay 80% of each contract’s value.

The net incoming resources for the year amounted to £8,207 (previous year £34,854 outgoing) and the surplus will be added to reserves brought forward giving total reserves carried forward of £97,560. Of this amount £10,000 is attributable to designated funds and £87,560 remains in general reserves. Attention is drawn to Note 1 to the financial statements on page 10 regarding our assessment of the charity to continue as a going concern. Reserves Policy The Management Committee have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets (“the free reserves”) held by the charity should be between 3 and 6 months of the resources expended, which equates to £43,000 to £86,000 in general funds. At this level, the Management Committee feel that they would be able to continue the current activities of the charity in the event of a significant drop in funding. It would obviously be necessary to consider how the funding would be replaced or activities changed. The present free reserves amount to £87,560 and are only slightly above the target range for the organisation.

Reserves Policy

Investment Polic

The policy of the Management Committee in respect of investment is to place any funds not immediately required in management of the charity in deposits with clearing banks or in cash funds designed specifically for charities such as the Charities Official Investment Fund (COIF) money fund. Such deposits meet the Management Committee’s requirement for the maximising of income commensurate with the protection of capital.

FUTURE PLANS

Trans-vol continues to seek additional opportunities to raise its revenue streams by exploring activities within its charitable purposes. Its activities over the year have illustrated its flexibility and willingness to deliver to the community it serves.

Thurrock is at the threshold of major changes including the creation of a new freeport, increased investment in infrastructure and an ambitious house building programme. These changes will undoubtedly produce challenges and opportunities and Trans-vol’s connections to local government and key enterprises within the borough mean it is well placed to leverage its capabilities and secure a sustainable future.

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TRANS-VOL REPORT OF THE MANAGEMENT COMMITTEE FOR THE YEAR ENDED 315? MARCH 2021 (CONTINUED)

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The organisation is a charitable company limited by guarantee, incorporated on 14“ July 2000 under number 4033874 and registered as a charity on 12" September 2000 under number 1082389,

The compariy was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association.

Members of the charitable company guarantee to contribute an amount not exceeding £1 to the assets of the charitable company in the event of winding up.

Recruitment and Appointment of Management Committee Members

The directors of the company are also charity trustees for the purposes of charity law and under the company’s Articles are known as members of the Management Committee.

Under the requirements of the company’s Articles all members of the Management Committee will hold office until the next Annual General Meeting following her/his election or co-option. On expiration of the period of office for which he/she was appointed, a member of the Management Committee shall be eligible for re-election or further co-option.

The charity has a wide range of activities and, as a result, seeks to ensure that the knowledge and experience of the Management Committee covers a wide range of voluntary and community activities, in addition to business and management skills. A skills audit of Management Committee members is usually undertaken annually and, where potential gaps are identified, new Committee members are actively sought.

All members of the Board give their time voluntarily and receive no benefit from the charity. Any expenses reclaimed from the charity are set out in Note 9 to the Accounts.

Committee Members Induction and Training

It has been agreed that a Management Committee Members Training Programme covering both the induction of new Committee Members and continuing training of existing Committee Members should be implemented. The programme will include an induction pack sent to new Committee Members and describes a programme of trustees training and covers:-

Organisational Management

The charity is run by a Management Committee consisting of trustees appointed by the Annual General Meeting or coopted during the year. Major decisions on policy, personnel and expenditure are made by the Management Committee. The charity also employed a Transport Manager who dealt with the day-to-day decisions and general running of the charity. Risk Management The Management Committee has conducted its own review of the major risks to which the charity is exposed and systems have been established to mitigate those risks. Significant external risks to funding have led to the development of a strategic plan, which wil] allow for the diversification of funding and activities. Internal risks are minimised by the implementation of procedures for authorisation of all transactions and projects and to ensure consistent quality of delivery for all operational aspects of the charitable company. These procedures are periodically reviewed to ensure . that they still meet the needs of the charity.

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REPORT OF THE MANAGEMENT COMMITTEE FOR THE YEAR ENDED 315' MARCH 2021 (CONTINUED)

ACCOUNTING AND REPORTING RESPONSIBILITIES

Statement of Committee Members’ Responsibilities

The trustees (who are also directors of Trans-Vol for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the year. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that 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.

Statement as to Disclosure to Disclosure Disclosure of Information Information to Auditors Auditors

Statement as to Disclosure to Disclosure Disclosure of Information Information to Auditors Auditors . So far as the committee members/directors are aware, there is no releyant audit information of which the charitable company’s auditors are unaware, and the trustees have taken all the steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

Auditors

Rowland Hall have indicated their willingness to continue in office and a resolution to re-appoint them as auditors will be proposed at the forthcoming annual general meeting.

This report has been prepared in accordance with the Statement of Recommended Practice - Accounting and Reporting by Charities and taking advantage of the small companies exemption of Section 415A of the Companies Act 2006.

Approved by the Committee on -—----------------------------

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N. WOODBRIDGE (Chairman)
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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF TRANS-VOL

OPINION

We have audited the financial statements of Trans-Vol (the ‘charitable company’) for the year ended 31% March 2021 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice),

In our opinion the financial statements:

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BASIS FOR OPINION

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

CONCLUSIONS RELATING TO GOING CONCERN

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

OTHER INFORMATION

The trustees are responsible for the other information, The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

OPINIONS ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006

Tn our opinion, based on the work undertaken in the course of the audit:

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF TRANS-VOL (CONTINUED)

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

RESPONSIBILITIES OF TRUSTEES

As explained more fully in the trustees’ responsibilities statement set out on page 5, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so,

AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists, Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF TRANS-VOL

(CONTINUED)

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

USE OF OUR REPORT

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

44/54 Orsett Road Grays Essex RM17 5ED

Dean Matthew Flood (Senior Statutory Auditor) For and on behalf of ROWLAND HALL, Statutory Auditor

19% November 2021

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TRANS-VOL

STATEMENT OF FINANCIAL ACTIVITIES

(INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 315" MARCH 2021

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|||||||||| |---|---|---|---|---|---|---|---|---| |Total|Total| |Restricted|Unrestricted|Designated|Funds|Funds| |Notes|Funds|Funds|Funds|2021|2020| |£|£|£|£|£| |INCOME|FROM:| |Donations|and|Legacies|3|-|-|-|-|-| |Charitable|Activities:| |Grants|and Fares|4|47,805|133,061|-|180,866|191,043| |Investment|Income|5|-|43|-|43|220| |Other Incoming|Resources|-|331|-|331|2,696| |TOTAL INCOMING RESOURCES|47,805|133,435|-|181,240|193,959| |EXPENDITURE|ON:| |Cost|of Raising|Funds:|-|-|-|-|-| |Charitable|Activities|6|48,670|124,363|-|173,033|228,813| |Other|6|-|-|-|-|-| |TOTAL RESOURCES EXPENDED|48,670|124,363|-|173,033|228,813| |NET (EXPENDITURE)/INCOME|(865)|9,072|-|8,207|(34,854)| |TRANSFER BETWEEN FUNDS|865|(865)|-|-|-| |NET MOVEMENT|IN FUNDS|-|8,207|-|8,207|(34,854)| |RECONCILIATION|OF FUNDS| |Total funds|brought|forward|-|79,353|10,000|89,353|124,207| |TOTAL FUNDS CARRIED FORWARD|£-|£87,560|£10,000|£97,560|£89,353|

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The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derives from continuing activities.

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TRANS-VOL

Company No. 4033874

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|||||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |BALANCE SHEET| |AS AT|315™|MARCH|2021| |Notes|2021|2020| |£|£|£|£| |FIXED ASSETS| |Tangible|Assets|12|125|167| |CURRENT|ASSETS| |Debtors|13|5,774|8,723| |Cash|at bank|and|in|hand|99,031|84,806| |104,805|93,529| |CREDITORS:|amounts|falling|due| |within|one|year|14|7,370|4,343| |NET CURRENT ASSETS|97,435|89,186| |TOTAL ASSETS LESS|CURRENT|LIABILITIES|97,560|89,353| |CREDITORS:|amounts|falling|due|after|more| |than|one|year|-|-| |NET ASSETS|16°|£97,560|£89,353| |UNRESTRICTED FUNDS| |Designated|Funds|10,000|10,000| |General|Funds|87,560|79,353| |97,560|89,353| |RESTRICTED|FUNDS|-|-| |TOTAL FUNDS|17|£97,560|£89,353| |These|accounts|are|prepared|in|accordance|with|the|special|provisions|relating|to|small|entities|within|Part|15|of|the| |Companies|Act|2006,| |Approved|and|authorisedaefor|issue|by|the Management Committee|on|----5-----------f---S>Adu|J 242. +--+| |and signed on its behalf by|A|

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N. WOODBRIDGE (Chairman)

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TRANS-VOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 315" MARCH 2021

  1. ACCOUNTING POLICIES

(a) General Information and Basis of Accounting Trans-Vol is a charitable company limited by guarantee in the United Kingdom. In the event of the charity being wound up the liability in respect of the guarantee is limited to £1 per member. The charity’s registered office is disclosed on page 1 of these financial statements.

The nature of the charity’s operations and principal activities are disclosed on page 2 of these financial . statements. The registered office is Thameside Complex, Orsett Road, Grays, Essex, RM17 S5DX.

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) issued in October 2019 (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Companies Act 2006 and UK Generally Accepted Accounting Practice.

The charity does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A.

The financial statements are prepared in Sterling which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £.

The accounts have been prepared under the historic cost convention with items recognised at cost of transaction value unless otherwise stated in the relevant note(s) to these accounts.

Trans-Vol meets the definition of a public benefit entity under FRS 102.

(b) Going Concern The directors have given consideration to the ability of the charity to continue to trade normally as a going concern, In their consideration they have had regard to a period of 12 months from the signing of these accounts, broadly to the end of October 2022, The charity achieved a small surplus of £9,072 during the year to 31* March 2021 and the management forecast is a broadly break-even position for the current financial year.

The trustees recognise the current financial difficulties they face. Attention is drawn to the comments within the 2 paragraph of the management committee report on page 3 of these accounts (Financial Review and Results for Year section). Trustees have been prudent in keeping enough reserves to pay all creditors if necessary and will consider an orderly closing of the charity if there is insufficient income in 2022. The accounts are prepared on the basis that the charity is a going concern.

COVID-19

As mentioned earlier, the charity has continued to run its transport of disabled children service throughout the pandemic. However, the core service was suspended in April and has now recommenced operations in a limited way — mostly clubs and some individuals. Safety is of the upmost importance and for many people they are awaiting their booster jab before using the Charity again. We believe the customer demand will increase over the coming year. The temporary suspension did allow the Charity to return a number of leased vehicles to save cost, and of course reduce other associated variable costs. Consequently, the financial position of the Charity as of end July was a substantial improvement on the same point in the previous year. In September 2020 the Charity was successful in bidding for a grant under the Government’s Coronavirus Community Support Fund to finance the recommencement of operations.

Income from government and other grants, whether capital or revenue in nature, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grant have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

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TRANS-VOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 315T MARCH 2021

  1. ACCOUNTING POLICIES (Continued)

  2. (d) Resources

    • (i) Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is shown net of VAT.

    • (ii) Charitable activities 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.

    • (iii) Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include audit fees and costs linked to the strategic management of the charity.

    • (iv) All costs are allocated between the expenditure categories on a basis designed to reflect the use of the resource. The majority of costs relate to charitable activities and have been allocated as such.

  3. (e} Fund Accounting

    • (i) Restricted funds are grants and contracts awarded for specific purposes as laid down by the donor. (ii) Unrestricted funds comprise other income received or generated for charitable purposes but which may be spent at the discretion of the Management Team.

    • ii) Designated funds are those unrestricted funds that have been earmarked by the trustees for particular purposes,

(f) Fixed Assets Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life, as detailed below. Items of equipment are capitalised where the purchase price exceeds £500. Fixtures, Fittings and Equipment - 25% reducing balance and 334% straight line Mini Buses - 25% on reducing balance.

(g) Debtors Trade and other debtors are recognised at the settlement amount due after any trade discounts offered. Prepayments are valued at the amount prepaid after taking account of any trade discount due.

(h) Creditors 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. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

(i) Financial Instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

The charity operates a defined contribution scheme, the assets of which are held separately from those of the charity. Pension costs are charged to the SOFA in the period to which they relate.

  1. JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the charity’s accounting policies the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 3157 MARCH 2021

3. DONATIONS AND LEGACIES

DONATIONS ANDAND LEGACIES 2021 2020
£ £
Donations f- £-

The charity benefits from the involvement and support of its volunteers, details of which are given in the Management Committee Report. In accordance with accounting standards, the economic contribution of general volunteers is not measured in the accounts.

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Premises Costs

The charity operates from premises owned by Thurrock Council. No charge is made by the council for the use of these facilities,

4. INCOMING RESOURCES FROM CHARITABLE ACTIVITIES

2021 2020
Restricted Unrestricted Total Total
£ £ £ £
Minibus Fares and Contracts - 132,505 132,505 186,281
Volunteer Driver Fares - 556 556 4,762
National Lottery Community Fund Grant 47,805 - 47,805 -
£47,805 £133,061 £180,866 £191,043
5. INVESTMENTINCOMEAND INTEREST 2021 2020
£ £
Bank Interest £43 £220
All of the above income relates to unrestricted funds,
6. EXPENDITUREONCHARITABLEACTIVITIES Total Total
2021 2020
£ £
Salaries, Wages andRelated Costs 109,803 135,058
Volunteer Expenses 865 5,078
Minibus Expenses 10,538 21,661
Minibus Hire 25,878 36,656
Insurance 1,047 1,462
Telephone and Internet 2,247 2,405
Computer Costs 2,115 3,09]
Depreciation and (Profit)/Loss onDisposal 42 2,342
Governance Costs
SupportCosts		 7,000
13,498		 7,168
13,892
£173,033 £228,813

Of the £173,033 expenditure in the year to 31" March 2021 (2020: £228,813), £48,670 was charged to restricted funds (2020: £nil) and £124,363 to unrestricted funds (2020: £228,813).

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TRANS-VOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 315 MARCH 2021

  1. ANALYSIS OF GOVERNANCE AND SUPPORT COSTS

The charity initially identifies the cost of its support functions, It then identifies those costs which relate to the governance function. Refer to the table below for the basis of apportionment and the analysis of support and governance costs,

governance costs,
General
Support		 Governance
Function		 Total Basis of
Apportionment
£ £ £
Salaries . 11,384 - 11,384 _ StaffTime
Healthcare 390 - 390 StaffTime
Insurance - 215 215 Governance
Telephone and Internet 118 - 118 Usage
Printing, Postage, Stationery and Advertising 327 - 327 Usage
Repairs andRenewals 767 767 Usage
Legal and Professional Fees - 2,730 2,730 Governance
AuditFees - 4,055 4,055 Governance
Sundry Expenses 512 - 512 Usage
£13,498 £7,000 £20,498

The charity operates from premises owned by Thurrock Council. No charge is made by the council for the use of these facilities.

8. NET INCOMINGRESOURCESFORTHEYEAR 2021 2020
This is stated after charging: £ £
Depreciation £42 £56
Loss/(Profit) on Disposal £- £2,286
Management Committee’s Remuneration £- £-
Auditors’ Remuneration - Audit Services £3,405 £3,325
-Non Audit Services £650 £645
9. STAFF COSTSANDNUMBERS 2021 2020
£ £
Staff costs were as follows:
Salaries and Wages 117,149 142,203
Social Security Costs 1,204 1,281
StaffPensions 2,834 2,978
£121,187 £146,462

No employee received emoluments of more than £60,000.

The average weekly number of employees during the year, calculated on the basis of full-time equivalents, was as follows:

follows:
2021 2020
No No
Directors 4 4
Transport and Support 13 16
17 20

The directors/trustees received no remuneration nor were they reimbursed for any expenses during the year (2020: £nil).

The charity considers its key management personnel comprise the trustees and Operations Manager. The total employment benefits including employer pension contributions of the key management personnel were £36,468.

15

.

TRANS-VOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 315T MARCH 2021

10. TAXATION

|

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

11, INDEMNITY INSURANCE

Trustee liability insurance was paid during the year and is included in the charity’s total insurance premium for the year of £1,047.

12. TANGIBLEFIXEDASSETS Fixtures,
Fittings
& Equipment Total
£ £
COST
BroughtForward 37,322 37,322
Additions
Disposals		 .
-		 .
-
At 31%March 2020 £37,322 £37,322
DEPRECIATION
BroughtForward 37,155 37,155
Charge fortheperiod 42 42
Eliminated on Disposal - -
At 31" March 2021 £37,197 £37,197
NETBOOKVALUEAt 31"March 2021 £167 £167
NETBOOKVALUEAt31"March2020 £125 £125
13, DEBTORS 2021 2020
£ £
OtherDebtors and Prepayments 5,774 8,723
£5,774 £8,723
14. CREDITORS: amounts fallingdue within oneyear 2021 2020
£ £
Other Creditors and Accruals 7,370 4,343
£7,370 £4,343

16

TRANS-VOL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 315T MARCH 2021

|

15. PENSION COSTS

The charity operates a defined contribution stakeholder pension scheme and also contributes to suitable personal pension schemes of employees. Contributions are charged to the SOFA in the period to which they relate. The charge for the year was £2,834 (2020: £2,978).

16. ANALYSIS OF NET ASSETS BETWEEN FUNDS

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|||||||| |---|---|---|---|---|---|---| |General|Designated|Restricted|Total| |Funds|Funds|Funds|Funds| |£|£|£|£| |Tangible Fixed|Assets|125|-|-|125| |Current Assets|94,805|10,000|-|104,805| |Current|Liabilities|(7,370)|-|-|(7,370)| |Long|Term|Liabilities|-|-|-|-| |Net Assets|at|31* March 2021|£87,560|£10,000|£-|£97,560|

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ANALYSIS OF NET ASSETS BETWEEN FUNDS — PREVIOUS YEAR

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||||||| |---|---|---|---|---|---| |General|Designated|Restricted|Total| |Funds|Funds|Funds|Funds| |£|£|£|£| |Tangible Fixed|Assets|167|.|-|167| |Current Assets|83,529|10,000|-|93,529| |Current|Liabilities|(4,343)|-|-|(4,343)| |Long Term|Liabilities|-|-|-|-| |Net Assets|at 31" March 2020|£79,353|£10,000|£-|£89,353|

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17

TRANS-VOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 3157 MARCH 2021

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|||||||||| |---|---|---|---|---|---|---|---|---| |17,|MOVEMENT|IN FUNDS| |At|1|Incoming|Outgoing|At 31| |April|Resources|Resources|Transfers|March| |2020|2021| |£|£|£|£|£| |Restricted|Funds:| |Coronavirus|Community|Support|Fund|-|47,805|(48,670)|865|-| |’|Total|Restricted Funds|E£-|£47,805|~|(£48,670)|£865|£-| |Unrestricted|Funds:| |Designated|Redundancy|Reserve|10,000|-|-|-|10,000| |General|Funds|79,353|133,435|(124,363)|(865)|87,560| |Total|Unrestricted|Funds|£89,353|£133,435|(£124,363)|(£865)|£97,560| |Total|Funds|£89,353|£181,240|(£173,033)|£-|£97,560| |MOVEMENT IN FUNDS|- PREVIOUS|YEAR| |At1|Incoming|Outgoing|At 31| |April|Resources|Resources|Transfers|March| |2019|2020| |£|£|£|£|£| |Restricted|Funds:| |Shopmobility|-|-|-|-|-| |Total|Restricted|Funds|£-|£-|£-|£-|£-| |Unrestricted|Funds:| |Designated|Redundancy|Reserve|10,000|-|-|-|10,000| |General|Funds|114,207|193,959|(228,813)|-|79,353| |Total|Unrestricted|Funds|£124,207|£193,959|(£228,813)|£-|£89,353| |Total Funds|£124,207|£193,959|(£228,813)|£-|£89,353|

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Purposes of Restricted Funds

Coronavirus Community Support Fund

The National Lottery awarded a grant specifically to fund Covid-19 related services such as providing transportation for the most vulnerable for vaccination appointments.

Purposes of Designated Funds

Redundancy Reserve

Trans-Yol’s Management Committee believe it is essential that provision is set aside to meet any and all of its legal responsibilities in respect of staff redundancies in the unfortunate event of the closure of the charity.

  1. OPERATING LEASE COMMITMENTS At the reporting end date the charitable company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2021 2020 £ £ Due Within One Year £6,900 £3,450 19. RELATED PARTY TRANSACTIONS There were no related party transactions during the year.