REGISTERED CO[PANy NUMBER: 04197657 (England and Wales) REGISTERED CHARITY NUMBER.. 1091206 the T stees and UDauditsJ Financlal Statements for the Year Ended 31 Mareh 2024 for Kln swood Comm nit Trnns Norton Tax Shops Limited 3 & 5 Station Road Ke>ry)sham Bristol BS312BH
s.wood Communlt Trans rt Conttnls ofthe Financial Ststements for the Year En Report ofthe Trustees I to 4 Independent Examlnerfs Report Statsment of Financial Activities Balance Shttt Notes to the FinaDCiVdl Ststements 8 to 13 Detailed Statement of Financial Aetlvlties 14 to 15
Kin swood Communi Re ort of the Trustees for the Year Ended 31 March 2024 KINGSWOOD COMMUNITY TRANSPORT TRUSTEES, REPORT (INCLUDING DIREcfoRS' REPORT) FOR THE YEAR EIYDED 31 MARCH 2024 The trustees pres¢nt their Tetth and financial statements for the year ended 31 Ma 2024. Thc financial statements have been prepared in accordanc¢ with the ac4ountiDg policies set out in note I to the fmancial statements and comply with the charity's governing documenL the Companies Act 2(X)6 and "Accounting and Re[ing by Chwitie5: Statement of Iieconended Prartice applicable to charities preparing their accounts in accordance witb the rinancial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" amended for accounting pcri(xls commencing from l January 2016) Objectives Kingswood Community TraTLqPOrt (KCT) provides ¢omJt]unity transport to residents within South GIou1eTshjTe and its environs. The Dial & Ride operation pmvides a door-to-door service for users who struggle or unable io use standard pubIic transp(t. Our group hire service provides fully accessible vehicles and sixteen-seater rninibuses for affiliated community user groups to hire. This is subject to published conditions, and competitive rntes are offered Our daily service trips are supplemented by our trcndy day trips amged by 'Friday Friends,. We also pmvide a service to train mini-bus drivers to th¢ nationally Tecognis¢d MIDAS (MinIS Drivers Awareness Scheme) standard. This service is &vailable to outside bodies. All drlvers of our mini-bus fleet are required to ¢omplet¢ this trdining. DevelopmenL activities and achievements during the y¢ar Durlng the period covered by this repoit KIngSw( Conununity Transport has operated with a tleet of 12 mini-buse and eight cars, All min]U$¢$ confonn to the Current recommendations and are fidly accessible and equipped to carry wheelchairs. Four of the cars are Vo]kswagen Caddys and are also fillty accessible and ideal for providing transport to health aP)IntMents. Th¢ remaining four are el¢ctri¢, and the board ar¢ k¢en to invest in fillther electric vehicles to reduce our e1 bill and help with the environmenl. It continues to be KCTS policy to maintain a fleet of vehicl¢s whose average age is no more than 5 years old. This typically means that in future, we will be planning to repl two or three vehicles ea¢h year. We are still planning to invest in improving the facilities on our p&itig lot at Creative Youth Netwo, This will include water and an electric supply, enabling us to valet and maintain our fleet in a safe and controlled environrnent. Fingncial activlties and affalrs West of England Combined Authority continues to provide a grant to Kingswood Community TranSrt for all the wo completed on its behalf. These payments are a contribution to the overall nll)ning costs of our services. Eligible Members benefft from concessions aTr4nged under the Diamond Travel Car(t Due to the reduction in funding from these concessions and to ensure our current level of services is maintained, menkn now pay £2.50 per trip or £3.00 if travelling outside our core are& Group hire with and without a driver and MIDAS trdining also cany a user charge. User revenue provides for investment that ensures that a robust vehicle replacement prOge is in place. Fundraising and nnber donations are essential in our financial plannin& and we would likc to thank all parties involved with our fidraISing activities. Financial review Company law requires the Board to prepare fanCIal statements for each f]nancial year, giving an accurate and fair vlew of the company's situation and the clwitys sU]uS or deficit. In pryaring thos¢ financial statements, the Board are required to." - Select suitable amting wlicies and apply them consistently. - Make judgements and estimates that are reasonable and pnent. - Prepare the financial ststements on a going concern basis unless it is inappropriate to presume the. charity will Continue to operate. The Board is responsible for maintsining proper accounting records which disclose with reasonable acclwacy at any time the ¢harity's fjnancial position and enabling the financial statements to Comply with the Companies Act 2006. They are also responsible for safeguarding the charity's assets an¢ hence, for taking reasonable steps to prevent and delect fizud and Oth irregularities. Significant infonnation Page I
Kln swood Cornmunl Trans ort of the Trustees for the Year Ended 31 March 2024 Kingswood Communty Transport is tabliShed &8 a company limited by guarantee and is registered as a charity with the Charity Commission. rts Memorandum and Articles of Ass(Kiation govern the affairs of the company. The liability of each membcr in the event of the company being wound up is limited to a sum not exce¢ding £1.00. The Board shall comprise bctwe¢n 3 and 15 oiflcers. Cumtly. there are 8 direckn and a company secretary. The subscribers to the Memorandum and Articles of Assoclation appointed the first Board. New Board members are elected individually at the time of membership renewal. The elected members sitting on the Board accommodate tILe interests of all members. In addition. the Board may cfropt no more than two other pers& whether members of Kingswood Community Transp or noL to serve a5 fijll voting mernbers of the Board. Th¢ trustee8 who are also the dircctot5 for company law and who served during the year and up to the date of si of the fJnanciaI statements. were". Ms J E BiggiD Mr M Sagar Ms V Robinson Mrs R Reed Mr C E Jordan MrRHBHart MrRCGee MrMJCox Operating reserves poliey The Operating Reserve Poli for Kingswood Community Transport aims to ensure the stability of the organisation's rnission, programs. employmenL and ongoing operations. The Operating Reserve 15 intended ro provide an intemal source of funds for sittwtions su¢h as a sudden in¢reas¢ in expenses, one-lime unbudgeted expenses, unanticipated loss in fundin& or uninsured losses. The Reserve may also be used for one-time, nOnrecUing expenses that will build long-terni capacity, such as staff developmenL research and d¢v¢lopmenL or investn)ent in infiwtru¢tur¢. The Owating Reserve Policy will be implemented in concert with th¢ other gov¢rnanc¢ and financial policies of Kingsw(K)d Community Tran4)ort and is int¢nd¢d to support th¢ goa]s and strategies. ACCOUNTING FORRESERVES Following investment policie4 the 0[ratIng Reserve Fund will be maintained in the business savings account and a COIF Charities Dewsit fjjnd. Fuf4DllYG OF RESERVES The operati Reserve Fund will be funded with SulUS unrestricted operating funds. The Board of Directors may occasionalty direct that a specific source of revenue be set aside for oating Reserves. Examples may include one-tim¢ gifts. bequests, spKcial grants. or special appeals. USE OF RLSERVES Use of the Opernting Reserves requires three steps: l. Identification of approlate use of r¢5ery¢ funds The Board will identify th¢ need for access to res¢rv¢ fimds and confllin that the use is consistent with the purpose of th¢ reserves as descrAiKd in this wlicy. This sw) requires an analysis of the reason for the shortfall. the availability of any other sources of funds before using reserves, and an eVUatiOn of the period that the funds will be required and replenished. The present holding of reserves held in various current and savings accounts stands at: £125.000. Wilh annual expenditure this stands at 3/0 of our atllwal expenditure. To allow Kcf to operate responsIl)ty. the Board considers that between 35 /0 and S0 should be available at any time to meet planned and Iegular or unforeseen costs (£122,5(K) - £175.000). Currentty, there is a surplus of Q500. hence cumtty there is no requiremenl to increase trip fares. The board have agrttd that &8 of 1st ApriL sitigIe fares will remain at £2.50 and £3.00. The &8sets of KCT are vehicles and IT and office equipmenl which are depreciated over appropriate perioas. and these are adequately maintsined and replaced over detrnnined periods, all of which are expressed in our amiual fuMncial r¢p)rts. These repoTts will be made available to KCTS members on the websits and on request and will be presented at the annual presentation tea KCT rolling three-y¢ar fleet replacement prOgrane. Vehicle hire as part of KCT dis&ster plan Cover foT unforeseen operntional rosts. i.e. Employing ternrary staff to cover a long-t¢m] sick absence In th¢ event of a forced or voluntary closure of th¢ tharity 2024-25 £30,000. 2025-26 £30,000 2026-27 £30,0 £5,000 £15,000 £40,000 Page 2
Kin swood Cornmuni Trans e ort of the Tntee$ for the Year Ended 31 March 2024 Other costs incurred if KCT has to cease trading. £IO,(M)O 2. Authority to use operdtlng reserves. The Chair or Vice Chair and one other board member will provide the authority for the General Manager to use reserve funds by this policy. Organisation Kcf is overseen by a Board of Director5 which meets regularly. Day-to-day maTJagement of the cbarity is the reS[K)n1)i11ty of the General Manw. Volunteers Kcf 15 eful for the support provided by its volunteers. who are involved in nwiy capacities within the charity. Employee involvement KCT is committed to the welfare of its employees. Following inWrpK>ratiO the company has agreed lo comply with aIl existing contractual obllgations of the charity. The Board approv th¢ trustees, rewt of Truste¢s. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is }trolled by its governing documenL a deed of tNsL and wnstttut¢s a limited cornpany. limited by guaTante¢, as defined by the Companies Act 2006. REFERENCE AND ADMtNISTRATIVE DETAILS Reglstered Company number 04197657 ffngland and Wales) Regislered Charity number 1091206 Registered office No 2 Office Old School House Kingswood FoundatioD Estate KInwd Bristol BS15 8DB Trnstees Ms J Biggin Ms V Robinson Mr M Sagar Mrmcox MrRGee Mr C Jordan Mr R Reed MrRHart Company Secretary Mr M Vernon IndependeDt Examiner Matk Loader Norton T&Y Shops Limited 3 & 5 Station Road Keynsham Bristol BS312BH Page 3
swood Communit Trans rt rt of the Trustees for the Year Ended 31 March 2024 Approved by order of the board o! 14 December 2024 and signed on its behalf by: Ms J Biggui- Tntee Page 4
Inde elldent Eyamlner'5 Re rt to the Trustees of swood CommuDIt Trans ort Independent examiner's report to the trustees of Klngswood Community Transport ('the Company,) I report to the charity trustees on my examination of the accounts of the Company for th¢ year ended 31 March 2024. R£spDnsibilities and basis of report As the charity's trustees of the Company (and also its directors for the purposes of company law) you are ponSIble for the prepardtion of the accounts in accordance with the requirements of the Companies Act 2006 Cthe 2006 ACV). Having satisfied myself that the accounts of the Company 8r¢ not required to be audited under Part 16 of the 2006 Act and are eligible for indeIdent examination. I r¢port in respect of my examination of your charity's accounts as Caled out under Section 145 of the Charities Act 2011 Cthe 2011 Arf). In carying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) ofthe 2011 ACL Independent examiner's 5tstement Since your charity's gross income exceeded £250.000 your examiller Mst be a member of a listed bcrfty. I can confirnl that l am qualified to dertake the examination because l am a rnernb of the A&SoCiati of Accounting Technicians. wbich is one of the listed bodies. I have cornpleted my examination. I confirm that no matters have com¢ to my attention in connection with the examination giving me cause to believe: accounting records were not kept in respect of th¢ Company as required by Section 386 of th¢ 2006 Act. or the accounts do not accord with those records. or the accounts do nol comply with th¢ a¢countAng requirements of Section 396 of the 2006 Act other than any r¢quirement thal the acwunts give a true and fair view which is not a matter considered as port of an independent examination" or the accounts have not been prepared in ac¢ordan¢e with the methods and principles of the Statement of Recommended Practice for accoUntll and rep)rting by chaTities {appIicable to charities prepaTing their 0nts in accordance with the Financial Rwrttng Standard applicable in the UK and Republic of Ireland (FRS 102)). I have no concerns and have come across no other matters in connection with the examination to whicb attention should be drawn in this report in order to enable a proper understanding of the accounts to be rhed. k Loader The Association of Accounting Technicians Norton Tax Shops Limited 3 & 5 SL*ion Road Keynsham Bristol BS312BH Dale: ...... Page 5
Kin swi*)d Commvni Trans Ststsment of Financial Activities for the Year Ended 31 March 2024 31.3.24 Total fimds 31.3.23 TotsE fijnds Unrestrithd fjjnd Restricted fund Notes COME ALYD ENDOWMENTS FROM Donati{ and legacies 377,539 4.0(Kl 381,539 370.365 Inv¢stment income 880 Totsl 378,419 4,0(M) 382,419 370,459 EXPENDITURE ON Charitsble acliviti Ch8fAtsble activities 396,259 396,259 361,476 NET INCOMEI(EXPENDITURE) (17,840) 4,000 (13,840) 8,983 RECONCILIATION OF FUNDS Total fidS brought forward 279,159 10,250 289,409 280,426 TOTAL FUNDS CARRIED FORWARD 261,319 14,250 275,569 289,409 The notes form part of these fmancial statements Page 6
Kin wood Commllni Trans Balance Sheet 31 March 2024 31.3.24 31.3.23 Total fijnds Unrestricted fund Restricted fund fim(L8 Notes FIXED ASSETS Tangible assets 131,073 131,073 128,852 CURRENT ASSETS Debtors Cash at bank and in hand 25,613 111,609 25,613 125,859 23,473 154,850 14,250 137,222 14,250 151,472 178J23 CREDITORS Amounts falling due within one year (6,976) (6,976) (17,766) NET CURRENT A75 130246 14,250 144,496 160J57 TOTALASSETS LESS CURRENT LIABILITIES 261,319 14250 275,569 289,409 NET ASSETS 261,319 14,250 275.569 289.409 FUNDS UnTestricted funds Restricted funds io 261,319 14250 279,159 10,250 TOTAL FUNDS 275.569 289,409 The ¢haritable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. The members have not required the company to obtain an audit of its financial ststements for the year o)ded 31 March 2024 in accordance with Section 476 of the Companies Act 2006. The tsustees acknowledge their reswil)ilities for (a) ¢nsuring that thc charitable company k¢eps arcoullting records that comply with Sections 386 and 387 of the Companies Acl 2(K)6 and preparing fmancial statements whi¢h give a te and fair view of th¢ stat¢ of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for ¢a¢h fmancial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirwnents of the Companies Act 2ff16 relating to financial statements, so far as applicable to the charitable company. (b) These financial statements have been prepared in accordance with the provisions applicable to charitabl¢ companies subject to the small companies regime. The fmancial stat¢ments were were signed on its behalf by: ved by the Board of TTUStees and authorised for issue on 14 December 2024 aDd Ms J Biggin - Trustee The notes forni part ofthe5e financial statements Page 7
swood Communi Notes to the Financial Statements for the Year Ended 31 Mareb 2024 ACCOUNTJNC POLICIES Basls of preparing the financial statements Th¢ fanCIal statements of the d)aTitsble company) which is a public benefit entity under FRS 102. have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and ReFrt)rting by Charities: Slatement 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) (efftctive l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 26. The finan¢ial statements have been prepared under the historical cost convention. Income All income is recognised in the Stat¢rnent of Finan¢ial Activities once the charity has entitlement to the fimd4 it is probable that the income will be Teceived and the amount can be measured r¢liably. Expenditure Liabilities are recOls¢d as expenditure as soon as there is a legal or constructlve obligation commltting the charity ts) that expenditu, it is probable that a transfer of economic benefits will b¢ required in settlement and the amount of the obligation can be measur¢d reliabty. Expenditure is accounted for on an accruals b&sis and h&s been classifjed under headings thai aggregate cost related to the category. Where costs cannot be directly atlributed to particular headings they have been allocated to activities on a basls consistent with the use of resources. Tangible fixed assets Depreciation is provided at th¢ following annual rates in order to WTifr off each asset over its estimated useful life. Plant and machinery Motor vehicles Computer equipment 250/0 on reducing balance 251/I(p on reducing balance 250/0 on reducing balance Taxation The charity is exempt from corporalion tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restrided pureS within the objects of the charity. Restrictions arise wh¢n specified by th¢ donor or wh¢n funds are raised forparticular restrlcted purposes. Further explanation of the natte and purpose of each fund is included in the llot to the finaDcia] statements. Pension costs and other post-retirement benefits The charitsble company owates a defmed contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Ststem¢nt of Financial Activities in the period to which they relate. Page 8 continued...
wood Communit Trans ort Notes to the Flnancial Ststements - contlnued or the Year Ended 31 March 2024 INVESTMENT INCOME 31.3.24 31.3.23 Deposit account interest 880 94 NET llYCOMEI(EXPENDJTURE) Net incomel(expenditure) is stated af charg](CredIting)". 31.3.24 31.323 Depreciation- owned assets 43,689 36.1(K) TRUSTEES, REMUNERATION AND BENEFITS There were no ITUSt¢es' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 Marth 2023. Tru5tees' expenses There ww¢ no tNstees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. STAFF COS The averdge rnonthly number of employees during the year was &$ follow5.' 31.324 31.3.23 Number of Employ¢es No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENf OF FINANCIAL ACTIVITIES Unrcstricted fund Reslricted fund Total funds INCOME AND ENDOWMENTS FROM Donatii)ns and legacies 362,365 8.000 370J65 Investment income 94 94 Totsl 362,459 370,459 EXPENDITURE ON Charitable activities Charitable activities 361,476 361,476 NET INCOME Transfers between funds 983 5,LN)O 8,000 (5,OCrf)) 8,983 Net movement In funds 5,983 3,000 8,983 RECONCtLIATION OF FUNDS Total funds brought fonvard 273,176 7,250 280,426 Page 9 continued...
wood Communit Trans Notes to the Financlal Statements - continued for the Year Ended 31 March 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcfivITIES - contlnued Unffstricted Restrictsd fund fimd fujjds TOTAL FUNDS CARRIED FORWARD 279,159 10,250 289,409 TAI¥4GIBLE FIXED ASSETS Plant and rnathinery Motor vehicles Computer equipment Totals COST At l April 2023 Additions Disposals 314,491 87,350 (56,395) 7,399 751 321,890 84469 (56,395) At 31 March 2024 368 345.446 8,150 353,964 DEPRECIATION At l April 2023 Charge for year Eliminated on disEX)sal 188,445 42,708 (13,836) 4,593 889 193,038 43,689 (13,836) 92 At 31 March 2024 217,317 5,482 222.891 ET BOOK VALUE At 31 March 2024 276 128.129 2,668 131,073 At 31 March 2023 126,046 2,806 128,852 DEwfoRS: AMOUNTS FALLING DUE WITHtN ONE YEAR 31.3.24 31.3.23 Trade debtors Other debtors VAT Pr¢payments 1,051 199 7,950 16,413 4,332 2,601 3.629 12,911 25,613 23,473 Page 10 Continued...
wood Communfi Trans Noles to the Financial Statements - continued ror the Year Ended 31 March 2024 CREDITORS: AMOiiNTS FALLING DUE wrrHIN ONE YEAR 31.324 31.3.23 Trnd¢ Gr¢diiors Accruals and d¢f¢rrcd income 5,716 1.260 4.081 13,685 6,976 17.766 10. MOVEME IN YUNDS Net ovement in funds At 31.324 At 1.4.23 Unrestrleted funds General fund 279.159 (17.840) 261,319 Restricted funds General fund 10,250 4,000 14,250 TOTAL FUNDS 289,409 (13,840) 275,569 Net movement in fund4 included in the above are as follows: Jncoming Resourcas expended Movement in funds Unrestrlcted funds General fund 378,419 (396,259) (17,840) Restricted funds General fund 4.000 4,000 TOTAL FUM)S 382.419 (396.259) (13.840) Comparatives for movement in fynds N¢t movement in fi]nds Transfers between fid5 At 31.323 At 1.4.22 Unrestricted funds General fund 273,176 983 5,000 279,159 Restricted funds GtheJal fund 7,250 8,000 (5,000) 10250 TOTAL FUNDS 280,426 8,983 289,409 Pag¢ 11 continued...
wood Communit Trans ort Notes to the Financial Stalements - continued for the Year Ended 31 March 2024 io. MOVEMENT IN FUNDS- continued Comparative net movem¢nt in funds, includ¢d in the above are as follows: Incoming resources Resources expended Movement in fimds Unrestrleted funds General fund 362,459 (361,476) 983 Restrlcted ndS General fund 8.000 TOTAL FUNDS 370,459 (361,476) 8,983 A current year 12 months and prior year 12 months combin¢d position is as follows." Net movement in fimds Transfers between fimds At 313.24 At 1.4.22 Unrestricted funds General fLmd 273,176 (16,857) 5.000 261,319 Restrieted funds General fund 7250 12,(X)O (5,000) 14250 TOTAL FUNDS 280,426 (4,857) 275,569 A cumt year 12 months and prior year 12 months combined net movement in fLmds, included it) the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds Generdl fid 740.878 (757.735) (16,857) Restricted funds General fund 12,0(X) 12,000 TOTAL FUNDS 752.878 (757,735) (4,857) Page 12 continued...
in wood Communit Trans ort NotCS to tbe Financial Statements- continued for the Year Ended 31 March 2024 ii. RELATED PARTY DISCLOSURLS Ther¢ were no r¢lated party transactions for the year ended 31 March 2024. Page 13
Kin swood Communi Detailed Ststement of Financial Activities for the Year Ended 31 March 2024 31.3.24 31.3.23 INCOME AND ENDOWMENTS Donations and legaeles Gifts Donations Use of vehicles South Glos. council grat Other council grants Other income 2,126 5.085 232.886 115,502 1,500 24,440 7,824 222,142 106,640 10.058 23,701 381,539 370,365 Investment income Deposit account interest 880 94 Totsl incoming resources 382,419 370,459 EXPENDITURE Charltable activltfies Volunteer expenses Advertising Vehicles- fuel Vehicles- repairs V¢hicle5 - tax and insurance Travel and subsistence Parking fm¢5 19,868 461 37,131 44,928 20,317 58 1,461 20,514 751 39.752 43,178 22.921 124.224 127.116 Support eosts Management Wages Social security Pensions Rent and services Insurdnce Cornputer and IT software Telephone Postage and station¢ry Bad debts Sundries Bank charges Profit on sale of tangible fixed &wts Plant and machinery Depreciation of motor vehicles Depreciation of computer equipment 175,751 7,582 4,546 6,292 2232 8,932 4,637 4,691 139,529 4,721 3,065 15,787 5,329 10,135 3,961 6.214 244 7.557 1.311 (1247) 9.317 2.809 92 42,708 889 35,165 935 270,762 231,706 This page does not forni part of the statutory fmancial statements Page 14
wood Communi Trans Detsiled Ststement of Financlal Aetivities for the Year Ended 31 Ivlarch 2024 31,324 31.3.23 Management Governance costs Accountancy and legal fees 1,273 2,654 Total resources expended 396,259 361,476 Net (expendltureyincome (13.840) 8.983 This page does not fgrn1 part ofth¢ statutory fjnancial statements Page 15