DENE VALLEY COMMUNI￿ TRANSPORT LIMITED IA chaAtsbl• company Ilmlted by guarnnt•el REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR PERIOD ENDED 31 MARCH 2024 Rogl•tor•d Charlty 14umbor 1090747 Rogl•tw•d Company Numbgr 03891784 (England and Wale•) DENE VALLEY COMMUNITh TRANSPORT LIMITED INDEX Pago Roport of tho Tru•t••• Indopond•nt Examln•rf• Roport 8lat•m•nt of Flnanclal Actlvltle• 8alaneo Sh••l Nots• to th• Flnan¢lo18tatsm•nts 8-10 Den• Valley Community Transport Raport of thè TNstee8 For the Year Ended 31st March 2024 The Trustees, who are also Directors of the Charity for the purposes of the Companies Act 2006, present their report with the financial statements of the Charity for the year ended 31st March 2024. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) °Accounting and Reporting by Charities. issued in March 2005. DETAILS Registsred Company number 03891784 (England and Wale8) Reglstsrnd Charlty nurn￿r 1090747 Roglstered Office Dene Valley One Stop Shop High Street Eldon Lane Bishop Auckland County Durham DL14 8TD Tru8tee8 Anthony H Bird David Clark Winifred Dines Allan Stokoe Janice Clark Thomas Briggs Melvyn Gibbins Chair Patricia Wilson Secretary Independent Examlner lan K Groves 167 Hummersknott Avenue Darlington DL3 8RL Governing document The organisation known as Dene Valley Community Transport Ltd (DVCT) is a charitable company limited st by guarantee, incorporated on 19 October 1999 and registered as a charity on 21 February 2002. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is govemed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1. The Memorandum and Articles of Association together with our current financial position as set out in our latest accounts and our key objectives and future plans become Key Management control documents. Charity Objectives and Actlvities The objectives of the Company include providing affordable, safe, modern and accessible Community Transport Service for members of the community and organisations of the Dene Valley Area. We aim to serve those who are in need of our service because of Age, Sickness, Disability, Mental or Physical issues, Poverty. To support the providers of education and physical and mental health activities. We also aim to prevent social i801ation and loneliness because of a lack and availability of adequate and safe public passenger services. Rocrulbnent and Appolntment of Manag8mont Commlttoo The directors of the charitable company are also charity trustees for the purpose of charity law and under the Company's Articles are known a8 members of the Management Committee and are 6lectedlre-elected yearly at our Annual General Meeting. We have added a Trustee who is physically disabled and a member of our community Trustse Inductlon and Ongolng Tralnlng In-house and external Trustee training is provided at regular intervals. The Tru8tee8 are fully aware of, and committed to, our charitable objectives, the management organisation and control8 in place to measure and monitor achievement in attaining these objectives. All trustees have a copy of this Memorandum. New trustee8 are encouraged to attend training sessions during which they are provided with a copy of this govemance document. New trustees receive induction training which includes review of the Charitable Objectives, of th8 importance of the document and their key Roles and Responsibilities" within it. We ensure that they understand the document and the implication8 for them as a trustee. Organl8atlonal Management Structure Dene Valley Community Transport Ltd. has a Board of Seven Trustees who meet regularly with a planned agenda. The Trustees monttor the business performance against our targets, plan for the ongoing improvement8 and agree the policies of the organisation. M8mber8 of the Board of Trustee8 have a broad range of skills relevant to the work of the company. The Transport Management operational procedures comply with the requirements of IS09001'.2015 defining roles and responsibilities. The operational team is responsible for implementing the strategy and achieving the business aims and objectives set by the trustees. The Chair will directly monitor the perfomiance and report progress to the Board. Bu31n888 Rlsk Management The Management and Trustees continue to assess and identify the major business risk8 to which the charrty is exposed, The appropriate management action8 a￿ in place to reduce the identified risks. These actions include the implementation of operational and security procedures which improve performance measurement standards and control of transactions and contract8. Our Operatlng Environment The residual effect of Covid continues to curtail the development of DVCT and improving operating income. The communty organisation and school activities continue to be recovering at a slow rate. The demand for reduced cost affordable transport serving communFty, educational and other organisations is essential for the wellbeing of both Young and Old User8. The latest demographic statistics obtained from Durham County Council Local Development Strategy continue to indicate that Dene Valley Community Transport continues to operate in Wards that suffer from long-tenn high levels of unemployment and social isolation reflected in the Physical and mental health wellbeing needs as compared to the rest of the County and Country. Achievements and Perforniance The business objectives set for 202312024 was to analyse operating costs and operating structure. The outcome indicated that immediate action to reduce vehicle repair and maintenance labour costs was essential. The vehicles standing unused for a long period has had a detrimentsl effect on reliability adding to the maintenance and repair costs. A new two-post ramp was obtained to replace the failing 4 Post ramp. DVCT objectives to reduce the carbon footprint and a sustainable reduction of running costs by obtaining Hybrid or Electric vehicles was curtailed due to the lack of availability of proven cost-effective hybrid and/ or electric pa8senger vehicles. The organisation continues to plan for sustainability and succession of key posts focusing on the professional development of the transport administrator. All drivers hold equivalent Midas and have DBS rtification. The organisation complies with PDCA policies and procedures required to satisfy the requirements needed to tender for Council contracts. The vehicle tracking system continues to provide transport management infonnation and cost control benefits. The additional benefits include improved security for drivers and passengers, improved joumey planning accuracy together with improved management infonnation systems. People The Tru8tees are committed to personal training and development for key 8taff and volunteers which are important to the health and sustainability of the business. The Repair and Maintenance Manager post is under review due to the c08t and ongoing reliability and utilization of the vehicles although the fleet was off the road due to the Covid restrictions. The Drivers have proved loyal during thi8 difficult period. The only disappointment has been the inability to fill an apprentice position in the Garage which ha8 been due to a lack of suitable trainee8. Ke Aim8 & Ob ectlve8 Flnanclal Porforniance Revl•w nd Reserve8 Pollc for 2024-2026 Objectives for 2024-25 will be focused on re-building the customer base, the ongoing review of running costs and maintenance and reduction of debtor day8 to achieve a positive cash flow. The investigation as to the viabilrty of using Hybrid or Electrical vehicles remains in focus. Th8 Trustees are at all times fr88 to review, monltor and question the bu8ine88 perfomance against budget. Staff &Voluntser8 The Trustees thank all of the Staff & Volunteers for their dedication, efforts and contribution to the wellbeing of the business. Accountant The Chair again wishes to thank the Accountant, lan Groves, for the quality and presentation of the accounts and the time taken to ensure the Trustees fully understand the contents. The Chair confinns the financial accounts accurately reflects the true status of the organisation. Com e wlth Le Islatlon The Management shall continue regularly review procedures and policies and revise as appropriate to ensure ongoing compliance with Road Traffic, DVLA, OHSW acts and regulations. POVA and Environmental legislation, regulations and guidelines. The company is committed to preserving the safety, mental and physical wellbeing and protection of staff, volunteers and passengers. We believe this policy portrays Dene Valley Community Transport as a caring, professional and sustainable organisation. Re8 onslbilities of the Board of Trustees Company Law requires the Board of Trustees to prepare financial statements for each financial year which give a true and fair reflection of the financial status of the charitable company as shown in the balance sheet and its incoming resources and application of reSoUr￿s, including income and expenditure, for the financial year. In preparing those financial statements, the Board of Trustees should follow best practice and:. Select suitable accounting policies and then apply them consistently., Make judgments and estimates that are reasonable and prudent; and Prepare the financial statements on the going concem basis unless it is inappropriate to assume that the company will continue on that basis. Th8 Board of Trustees is responsible for having maintained proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. Th6 Board of Trustees is also responsible for safeguarding the assets of the charitable company and hence tsking reasonable steps for the prevention and detection of fraud and other irregularitie8. Members of tho Board ot Trustee8 Member8 of th8 Board of Trustee8, who are directors for the purpose of company law and trustees for the purpose of the charity law, who served during the year and up to the date of this report are set out on page1. This report has been prepared in accordancé with the Statement of Recommending Practice: Accounting and Reporting by Charities (issued in March 2005) and in accordance with the special provisions of the Companies Act 2006 relating to small entities. Approved by the Board of Trustees on 26th December 2024 and Signed on its behalf by Anthony H. Bird Chalr of the Board of Tru8tee8 Indopgndent Examln*8 R•port to the Tru8to0s of Deng Valloy Community Trnnsport I report on th8 accounts for the year 8rKled 31st March 2024 sat out on pages 6 to 16 Rosponslbllltles and Basls of Report As th8 tTUStee$ of the company land also its directors for th8 purposes of company law) you are responsible for the preparallon of the flnancial ststem8nts in accordance with th6 raquirements of th& Companies Act 20C6 Ilh& 20￿ Act). Having satlsfiéd myself that the accounts of the c¢xnpany are not réquired to b8 auditsd und8r Part 16 of the 2006 Act and are eliglblo for Ind•pendent examination, I report in re$pocl of my examination ofth& ¢hariVs accounts as carried out under section 145 of the Charities Act 2011 {'th8 2011 Act'l. In carylng out my examinatlon I havo followed the Directlons given by the Charlty Commlsslon nder 8e¢tlon 14515)Ib} of the 2011 Act. Indep•nd•nt Examln•rf• Statom•nt I have completed my éxamlnatlon. I conflm) that no mattorn have comfr to my attentlon In conne¢tlon wllh the examlnatlon giving mo cause lo belleve.. accountlng record8 not kept In r88pect of the charity a$ roqulrad by 8ecllon 386 of the 2008 Aet,. or (2) tho finandal ststements do not accord wfth th088 fecord8,' or th6 financial ststsm8nts do not comply wlth the accounting requiremènts o18e¢llon 396 of the 2006 Ath olhor than any requir8ment that the accounts 9fve a 'tru& and fair view whlch18 not 8 motter con8kl&red a8 Part of an Independént ex8minatlon-, or the financlal 8tatsments have nol baen prep8red In accordan¢8 with the method8 and prlnclples of the Slatsmenl of Recommended Pracllce for accourFtlng and reporting by charftl88 appllrAblo lo charllies preparing Ih8r accounts in aCcOrdn￿ wlth the Financlal Reportlng Standard applicable In the UK and Ropubllc of Ireland IFRS 102). I hav6 no conc•rn8 and hav& come acro$$ no olh8r matter8 In connectlon wllh thè examlnatlon to %thl¢h atten￿on #hould be drawn In th18 report in order to onable a propor under8tsndlng of the ac￿Unts to ba reached. lan Groves 167 Hummer8knott Avenue Darlington DL3 8RL 24th Decembèr 2024 DENE VALLEY COMMUNITh TRANSPORT LIMITED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024 Unrestdcted Fund$ 2024 Restricted Funds 2024 Total Funds 2024 Total Funds 2023 INCOMING RESOLIRCES Note Incomlng Rèsou￿03 From Genoratod Fund• Voluntary income Activitles for generating funds Incom8 from Inv681mènt8 5a. 5b. 5¢. 40 56,470 49,814 49,814 Incomlng MourcM from Charltablo Acllvltlo1 Grants Racelved TOTAL INCOMING RESOURCES 49,814 49,814 58,510 RESOURCES EXPENDED Charftabl8 adlvllle8 39,509 1,714 41,223 88,378 Costs ol generatlng fund•: 6b, 13,266 13,286 21,483 Govemance ¢08ts 8¢. 183 183 513 TOTAL RE80URCE3 EXPENDED 52,938 1,714 54,852 90,372 NET (OUTGOING) I INCOPIING RESOURCES BEFORE TRANSFERS (3,124) (1,714) 14,838) {33,882} Gro88 transfers bots¥een fund8 NET MOVEMENT IN FUND8 (3,124) (1.714) (4,838) 133,882} BALANCE BROUGHT FORWARD . 10,3S1 195,880 208,211 265,639 BALANCE CARRIED FORWARD- 7,227 194,146 201,373 231.777 The notes on pagos 8 10 16 form part of these financial ststements DENE VALLEY COMMUNrrY TRANSPORT LIMITED BALANCE SHEEf AS AT 31ST MARCH 2024 2024 2023 TANGIBLE FIXED ASSETS 10 196,987 199,829 CURRENT ASSEf8 Debtor8 51.179 38,381 Ca8h At Bank and In Hand 9,721 28,172 60,900 82,553 LIABILITIES Credttors- amounts lalllng du8 h￿thIn one year 12 58,414 58,171 TOTAL NET AS8ET8 201,473 208,211 THE FUNDS OF THE CHARITY Unrostrfcted- general 13 17,283 14,259 - d081gnatsd 13 124.6101 (24,8101 Re8lrlct8d 13 {194,1461 {195,8801 TOTAL FUNDS 1201,473) (208,211) For the year ended 31st MArch 2024 tha company wag ontmed to ox8mptlon from audft undor 88Ctton 477 01 the Compan188 Act 2CM)8 relatlng to small companle8 Th8 member8 have not required th8 company to obtaln an audlt ol ft8 accounts for the year In questlon In accordancè wtth 8frcllon 476. The dlreclors a¢know￿dge thelr r8spon81bllltl88 for complylng ￿th the requireménts of th8 Act wlth r88POCt to accountlng rKords and the proparation of a¢￿unts. Th88e accounts have been prepared in accordan￿ the provi8ion8 appllcable to companies 8ubiecl to tho 8mall companies, regime Tho flnonclal siatsments TA•rn approved by th• B*xrd on 24th O•cemb•r 2024 and slgnod on Its behalf by: Anthony Hopklnson Blrd Dlrecior l Trusts8 The notes on pages 8 to 16 fom) part of thèse financial statements DENE VALLEY COPIMUNITY TrANSPORT UMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 Gonoral Irfft)miatlon The Charfty18 a private company Ilmltod ty guarantee, reg8ltered in EnglarKI arKI Walos and a reglstared chahty In England and Walo8. The address of the Regtstered Offlcè is Stop Sop". Hh3h Str8e( Eldon Lan&. B18hop Aucland. DL14 8TD. 8tatsm•nt of Compllan The89 financial statsmonts have been prepared In compliance wtth FRS 102, 'The Financlal R8PQrtlng Standard applicable in the UK and the Republlc of Ireland,, the Slatsm8nl of Recommended Practice appllcabla to charltle8 preparlng their accounts In accordance with th8 Fin8n¢lal Reporting StsrKlard opplkablo in th• UK and R8publlc of Ir81and IFRS 102) ICh8rlllo• SORP (FRS 102)) and the Chadties Act 2011. Ac¢ountlng Pollclo• Ba•1• of prO￿rItIon Tho flnand81 statsmènts hav6 been prepared on tho hlslorical co81 basls, as madlfied by thè rgvaluatlon of certaln flnanclal 888ats and liabilit188 and investment propertlg8 moa8urod at tslr value through Incomè or exerKlltur6. Tho flnanclal 8tatsm&nts have bean prepared In stsdlng, whch18 thé functlonlng currèncy of th& entity. Golng Concom Thero afa no matorlal Unc4rt81n￿8 about tho charltys ablllty to contlnuo. DIKlo•ur• Exwnptlon• No Cash Flow Slatomant has ￿en pre8ontsd for thg Company. Judgomont• and koy •our¢o• of ••tlmatlon un￿rtaInty The preparatlon of the financial statements requlre8 managemént lo make ludgemonts, 88tlmats8 and as8umptlons that affoct the amounts reported. These osllmales and judgements are contlnualty reviewed and are based on oxp8ri6nee and other foctors, Includlng exp8ctallon8 of future events that are bélieved to bg reosonablo under the clreumstsnces. Fund Accountlng Unre8lrfctod fvnd8 arn 8vallable for u88 at tho di8cretlon of the tru8ts08 to further any of the charftys purpoJe& Deslgnated lund8 are unr88trlcted funds earmarked by the Iru8too8 for partleular futur8 Proje￿ or ¢ommitsnonL Ro8tr6cted lund8 ara 8ubJ'ected to restrfctlon8 on thair Oxpendlture declargd by the donor or through the te￿8 of an appeal, and fall Into one of tsvo 8ubp8rKlllure on ¢harllablo actfvitl88. AII costs are allocatsd lo expendllure eAtsgode8 reflectlng thè u88 of tho resourcè. DIre￿ costs attributable to a Inglo aclfvlty are allocated dlredly lo that acfvity. Shared c08t8 ar6 apportioned netrAwn actlville8 they ¢ontrfbLrt8 lo on 8 r880nable, Iu8Mable and con818tst b8818. Tanglble Flx•d A••ots Tanglblfj Flxed a880ts are capltall88d at h18torfc co8t In¢ludlng Inddental costs ol aqulsitlon. Depredallon 18 calculated 80 as to wrlte off the cost of the tanglble a888t by gqual annual Instalments over thelr esllmaled useful life Iwhlch may be the duratlon of grant furKling} a8 follow8'.- Freohold Property Motor VehSlc•s Furniture & FtttSng8 Office & Other Equ(Dment Computer Equlpment not currently deprodated maximum of 5 years depending on grant 5 years S year8 S years DENE VALLEY COMMUNrrY TRANSPORT LIMITED NOTE8 TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST PAARCH 2024 Accountlng Pollcle8- ¢ontlnuod Fln•nclal Instrumonts A flnanclal 888et or liabil￿ Is rocognised only whgn the entty b8¢omes a paty to tho contractual proviion8 of the instrumant. Baslc finan¢lal instruments aro initialty ro¢ogni8ed a8 tho amount rec*ivabl8 Of payabl8 Incjudlng any le18t￿ transaction c08ts, unte88 th• arrangem8nt ¢onstitut88 8 finan¢lng Irans8cllon, where it t8 re¢ognised at th& present value of the fijture payment6 di8¢0Ut•d at a m8rket rat• of interest for a similar debt instrument. Current a￿01$ and current IlablllMto8 are suhequonlty moa8urod at the ￿¥h of other ¢onslderatlon exp•cted to b8 pold or recalved and not dl8¢ountsd. Dabl In8trum•nts ar• •ub8equentiy m￿urnd ai amortl8¢d ¢081. T•xatlon Thè charfty18 ￿eMpt from corporation tax on Its charitsbh actlvltl•$. Llmltod by guarnnt•• Dono Vall•y Communlty Transport Is a Company IlmEt¢d ty guarantee and accordlngty doè• nol ha￿ a sharo capllal 10 DENE VALLEY COMMUNITY TRANSPORT LIMITED NOTES TO THE FINANCIAL STATEMENTS (contlnued) FOR THE YEAR ENDED 31ST MARCH 2024 INCOMING RESOURCES Voluntary Incomo 2024 2023 Donatlon8 & Subs¢rfptlons 40 5b. Actlvltlo• for g•n•rntlng funds 2024 2023 Fare8 arKI TTIps Garage Serv1¢68 BSOG fuel rebats Oth8r adlvllia8 49,385 30 4,895 2,190 712 49,814 56,470 Incomo from Invo8th*nts 2024 2023 Bank Interest recafvabl• Incomlng ro•ourcv Irom Charltablo actlvltl•• 2024 2023 Gronts.. r8$trlcted fund6 13 Total Ineomlng Ra8ourco• 49.814 58.510 11 DENE VALLEY COMMUNITf TRANSPORT LIMITED NOTES TO THE FINANCIAL STATEMENTS {wttlnuod) FOR THE YEAR ENDED 31ST MARCH 2024 RESOURCES EXPENDED Charftsb19 0ctlvltl8s Dlrect Costs Support Costs Total 2024 Total 2023 Staffing costs Premisos costs Office Rent Office Eyn8e8 In8uranc8S Volunteer Expen8e8 Sundry Expen8e8 Bad Debt Provision Depreciatlon of owned a88ets (Profftl Lo88 on sale of owned a￿ets 42,821 1,621 4,416 118,5481 4,319 3.724 141 46,545 1,782 4.800 (20,1811 4.695 46,357 791 4,800 1,025 {1,6131 378 881 59 740 1,055 2,615 227 2,842 9,985 {1001 37,925 3,298 41,223 68,378 6b. Co•ts of gonorntlng fund• Dlr•cl Co•ts 8upport Co•t• Total 2024 Total 2023 Garago Pur¢ha8•8 Fuel Vehicl8 Malntsnanca C08ts of Other AcfviUe• 144 8,116 3,625 319 13 708 315 28 157 8,822 3,940 347 1,161 10,805 8,802 915 12,204 1,062 13,288 21,483 X*JE Govornan¢o costs 2024 2023 Prof0881onal and olhor fae8 Independent Ex8mlnatlon 513 513 Total Resourc•s EX￿nd9d 54,652 90,372 NET INCOMING I (OUTGOING) RESOURCES 2024 2023 Net resources are stated after charging l (credltlng).. cyreciation ofowned assets (Profltl Los¥ on sale of ¢)wned assets Independent Examination Costs 2,842 9,985 {100) 12 DENE VALLEY COMMUNITY TRANSPORT LIMITED NOTES TO THE FINANCIAL STATEMENTS (¢ontlnuod) FOR THE YEAR ENDED 31ST MARCH 2024 TRUSTEES DISCLOSURE 2024 2023 Trustees remunèration and b8n8fits Trustees exp8ns8S STAFF C08TS 2024 2023 Wag88 and salarfa8 Social Securty eo•ts Pansion ¢￿ts 45,598 577 370 48,357 46,357 The averagè numbor ofamploy008 during tho year was ￿ lollow8'. 2024 2023 Charltsbl8 Advltles Administratlon and Support No omployaè oamed In exc888 of £80,000 13 DENE VALLEI COMMUNITY TRANSPORT LIMITED NOTES TO THE FINANCIAL STATEMENTS {contlnu•d) FOR THE YEAR ENDED 315T MARCH 2024 10. FIXED ASSErs (a) Tanglbl8 {all unrestrlctsd) Fmhold Land & Buildings Vehidgs other Plant & Equipment Equipment Total COST At 1st Aprfl 2023 Additions during y•aT Dl$posal8 durfng year Adluslment 194,146 219,557 5,852 14,392 433.747 At 318t Marth 2024 194,148 219,557 5,852 14,392 433,747 DEPRECIATION Al 18t Aprll 2023 Chargè for the year Charge on d18P08818 ju$lment 217,843 1,714 5,652 10,423 1,128 233.918 2,842 At 318t March 2024 219.557 5,852 11,551 236,780 NET BOOK VALUE At 3181 March 2024 194.146 2,841 198,987 22== At 31st March 2023 194,148 1,714 3,989 199.829 11. DEBTOR8 2024 2023 Trade Debtors Other Debtors Prepa￿nents and accruod InL￿M 33,154 15.811 2.214 20.834 13,333 2,214 51,179 36,381 12. CREDITORS - amounts falllng duo wlthln y•ar 2024 2023 Trade Credltors Social Security and Othor Taxes Other Creditors als and ￿ferred Income 18,099 {2,114) 33,364 11,192 {2.970) 27,731 20,218 56.414 58,171 14 DENE VALLEY COMMUNITY TRANSPORT LIMITED NOTES TO THE FINANCIAL STATEMENTS (Conllnuod) FOR THE YEAR ENDED 31ST MARCH 2024 13. FUNDS Unrostfictad Th8 unrestrrcted funds comprlse the géneral fund and one de8ignat8d fijnd. The movements are 8hown below:. Balance 8t 1st April 2023 Incomlng rosourc8s & transfers Resour￿¥ expended & transfers Revaluatlon loss and Ir8n8fer8 Balanca at 3181 March 2024 Genéral Fund Fixed Assol Value6 14,259 (24,610) (49,9141 52,938 17,283 124,6101 {10.351) (49,914) 52,938 {7,3271 Balaneo at 181 Aprll 2023 Incoming raiour¢o8 Re6ourc85 axpènded Revaluallon 1088 and tran8fer8 Balance al 318t March 2024 ERDF #1- Garage ERDF #2 - Gorage DCC.. bu8 4 DCC.. bu8 5 DCC.. bus 6 DCC.. bus 7 DCC.. bus 8 Department of Tran8POrt Award8 for All - Cor Pork DCC Nelghbourhood Fund - Car Park General R686rv68 committéd Rovaluation Re8er 123,7011 {53,445) {23,701) (53,445) (1,531) 1,531 (10,0001 (15.0001 {25,995) {86,188) 110.0001 {15,000) {25,8121 (66,1881 183 1195.880) 1,714 1194,146) Mov8m•nts In Indlvldual fund• are Shown abov•. Tho purpo•0 of •ach lund l• as follo￿. ERDF Fundlng towards erection and 8Stablishlng of the Community Garage faclllty, onabllng bu8e$ to be malntsin8d localty and to bo safely slored each nlght. DCC Buse8 Under an agreement wlth Durham County Council, fund8 for the purchase of buses are granted In order to enabl8 the Identified s&rvices to be run. The grant may cover the full cost of the bus, or may be more or less than the purchase price. Where the grant is less than the full cost, the ¢ompany transfers sufficient general reserves to restricted reserves in order that th8 reserves value matches thal of the asset Pufchased. Vvhere the grant 15 great8r than the pur¢hase cosL the surplus is avallable for use against the wnning costs of the bus. In Such instsnce8, the surplus funding is utili8ed in the first year so that the fvnd value matches the asset value. Awards For All & Nelghbourhood Fund Funding towards the cost of a car park to enab￿ the increased ffeet to be safèty housed. Gonornl R89erv88 Commltt•d Where the purchs& cost of an itém is gwter than the grant funding obtsined the deficit of fundlng Is met through a transfer from general funds. 15 DENE VALLEY COMMUNITY TRANSPORT LIMITED 140TES TO THE FINANCIAL STATEMENTS {conllnuod FOR THE YEAR ENDED 318T MARCH 2024 13. FUNDS - contlnued Revaluatlon Reservo The Garage was subject to a prof8S8ional valuation at which time a revaluation reseprfe VRS established to reftect thè asset value being in excess of original cost. 1& ANALYSIS OF NET ASSETS BY FUND Unrestricted Funds Designatéd Fund8 General Fund Total Fund8 Restricted Funds Total 2023 Tanglble flxed 888et8 Current assels Llobilities 2,841 36,290 (56,414) 2,841 60,900 (56,414) 194,146 196,987 60,900 156,4141 24,eio 117,2831 24,610 7,327 194,148 201,473 15. THE COMPANY The charltable company 18 a company limrted by guarantea and a8 8uch doe8 not have any Share cay'tsi. The liability of oach membor 18, in the evont of wlrKling up, Ilmitod to £1. 16