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2022-03-31-accounts

COMPANY REGISTRATION NUMBER: 04376941 CHARITY REGISTRATION NUMBER: 1094918

Mendip Community Transport

Financial Statements

31 March 2022

Mendip Community Transport

Contents Page

Year ended 31 March 2022

Page
Trustees' annual report 1-7
Independent examiner's report to the members 8
Statement of financial activities (including income and expenditure account) 9
Statement of financial position 10
Statement of cash flows 11
Notes to the financial statements 12-21

Mendip Community Transport

Trustees annual report

Year ended 31 March 2022

ANNUAL REPORT YEAR ENDED 31 MARCH 2022

The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 March 2022.

Reference and administrative details

Registered charity name Mendip Community Transport
Charity registration number 1094918
Company registration number 04376941
Principal office and
registered office Unit 10A
Quarry Way Business Park
Waterlip
Shepton Mallet
Somerset
BA4 4RN
The Trustees Jane Ann Gregory-Hook (resigned 9 February 2022)
Mark William Shelton (resigned 3 November 2022)
Robert Edward Powell
Ian Andrew Martyn
Rodney Martyn Harris
Richard John Leworthy (appointed 9 February 2022)
Richard Reynolds (appointed 3 November 2022)
Bryan Knickerbocker (appointed 3 November 2022)
Company secretary Timothy William Blackburn
Independent Examiner Joshua Kingston, Bsc,. ACA
Burton Sweet Limited
The Clock Tower
5 Farleigh Court
Old Weston Road
Flax Bourton
Bristol BS48 1UR

1

Mendip Community Transport

Trustees annual report

Year ended 31 March 2022

Structure, governance and management

Background

Mendip Community Transport was formed in 2002 and is a registered charity (No. 1094918) and a company (No. 04376941) limited by guarantee. There are no shareholders.

MCT has offices at Quarry Way Business Park, Waterlip near Shepton Mallet where the operations and administration teams are based. It operates a fleet of 30 vehicles based at various locations across the Mendip and Sedgemoor districts in proximity to their operational area. The majority of its vehicles (26) are accessible having been fitted with tail lifts or ramps to accommodate passengers with a range of mobility issues.

In addition, MCT operates a Hospital Car Scheme managing a team of approximately 34 volunteer drivers who use their own vehicles to provide transport to and from medical appointments.

Charitable Purpose and Activities

The declared objective of the Charity when it was originally established was ‘…. to provide a community transport service for such of the inhabitants of Somerset, particularly Mendip, and its neighbourhood who are in need of such a service because of age, sickness or disability (metal or physical), or poverty, or because of a lack of availability of adequate and safe public passenger services.’

This remains the focus of the activity that the Charity undertakes today, although the area served now extends into the adjoining district of Sedgemoor.

Appointment of trustees/directors

The Trustees are the Directors of the company. The Directors are appointed by the members of Mendip Community Transport at an Annual General Meeting of the company in accordance with the Articles of Association. In addition, the Directors may appoint persons to fill any casual vacancies which occur during the year and may also co-opt a limited number of additional persons to the Board.

Trustee induction and Training

New Trustees are briefed on their legal obligations under charity and company law, the content of the memorandum and articles of association, the committee and decision making process, the business

2

Mendip Community Transport

Trustees annual report

Year ended 31 March 2022

plan and recent financial performance. New Trustees meet key employees and the other Trustees. Trustees are encouraged to attend appropriate external training events where these will facilitate their understanding of their role.

Objectives and activities

The charity was established to provide transport for all community groups and individuals whose needs are not met by conventional transport. In particular it caters for the needs of the elderly, the disabled, the young, the mobility impaired and the socially excluded. The Trustees have referred to the guidance on public benefit contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities.

Policies

The following is a summary of the policies adopted by the charity in furtherance of its objects:

Structure of Mendip Community Transport

Responsibility for the strategic management of the charity, policy making and the monitoring of its work rests with the Board of Trustees/Directors. These six individuals are all volunteers.

The paid staff of the organisation are headed by the Chief Executive who is responsible to the Board for all aspects of the day to day running of the organisation and for advising on all matters relating to this work.

At 31 March 2022 Mendip Community Transport employed 51 part time staff - (2021 - 51). During 2020/21 - 34 volunteers (2020/21 - 54) gave their services to the organisation in all areas of activity. Mendip Community Transport is a member of the Community Transport Association.

Strategic report

The following sections for achievements and performance and financial review form the strategic report of the charity.

Achievements and Performance

This is the Board of Trustees of Mendip Community Transport annual report and financial statements for the year ended 31 March 2022.

3

Mendip Community Transport

Trustees annual report

Year ended 31 March 2022

Our Services

Mendip Community Transport operates a range of different services including:

Slinky Bus (DRT)

The Slinky Bus is a door-to-door Demand Responsive Transport service funded by Somerset County Council for people not served by or unable to access conventional transport services. The service operates between 9am and 5pm Monday to Friday and can be used for a range of purposes including, getting to local health appointments, shopping, attending classes, and visiting friends and family.

MCT operated six vehicles; three in Mendip and three in Sedgemoor, on behalf of Somerset County Council. The current contract is due to run until September 2023.

Service Bus (Route 67 & Route 665)

These services are provided on behalf of Somerset County Council. They were established to help reduce the rural isolation experienced by some residents following the withdrawal of the previous bus service. Route 67 operates Monday to Saturday between Wookey, Wells and Wedmore. Route 665 runs on a Tuesday and Friday from Kingweston to Yeovil.

Glastonbury Tor Bus (Route 196)

This service is provided on behalf of Somerset County Council and Glastonbury Town Council. It operates 7 days a week from the beginning of April through to the end of September and provides access to the Tor from the centre of the town.

Group Travel

Mendip Community Transport provides transport for various clubs, societies, care homes and schools across the Mendip and Sedgemoor Districts.

School Transport

Mendip Community Transport operates school routes on behalf of Somerset County Council, many of which are specifically for pupils with Special Enducational Needs who are supported by a Passenger Assistant provided by MCT.

Hospital Cars

Mendip Community Transport established this service in 2005 to provide transport for individuals needing to attend hospital out-patient appointments.

There are currently approximately 34 volunteer drivers from across Mendip and parts of Sedgemoor who volunteer their time and use their own vehicles in return for reimbursement of their mileage expenses.

4

Mendip Community Transport

Trustees annual report

Year ended 31 March 2022

This service was suspended for a period during the Coronavirus Pandemic and many volunteers choose not to return. As a result, the current number of drivers is well below the peak of 60 who were active in 2019.

Utilisation of services

The recovery in the overall utilisation of MCT services has been broadly in line with the national figures for public transport.

Use of the Slinky Bus (DRT) service has increased steadily following the end of the Coronavirus lockdown and utilisation has returned to around 80% of the pre-pandemic levels. The total number of passenger journeys undertaken during the year to March 2022 was 18,822 compared to 10,143 in the previous 12 months. The number of passengers using the Route 67 & Route 665 services has shown a similar upturn in numbers. Group Travel bookings, however, have been slower to return and total activity has been about 34% of that undertaken pre-pandemic.

Fuel cost & supply chain issues

The year to March 2022 was challenging as the Charity came to terms with increasing fuel prices which rose by 34% over the course of the year, as well as supply chain problems that impacted the duration and cost of the servicing and repair of vehicles. Sourcing new vehicles to refresh the fleet was also problematic with extended lead times, lack of availability and increasing prices being experienced. These factors combined and had a significant impact on business costs.

Financial Review

The financial position and performance of Mendip Community Transport is in line with the expectations of the Trustees, based on the monitoring of income and expenditure throughout the year. Despite the uncertainty and challenges resulting from the wider economic downturn, the financial position of the Charity remains strong.

Total income was £881,531 for the year compared to £832,443 in the previous year, while the total expenditure was £910,981 (2021 - £814,489). This produced a net movement of funds of -£29,449.

Balance Sheet

At the year end the charity's net assets were £958,587 (2021 - £988,036), of which £409,783 (2021 - £400,435) represented general unrestricted funds and £548,804 (2021- £587,601) represented designated funds held in respect of the vehicle replacement programme. The Board considers that the balance of assets as at the year-end was satisfactory.

Reserve Policy

The Board has established a policy whereby sufficient unrestricted funds not held for fixed assets ("free reserves") should be accumulated over time to enable the continuation of the charity's operations for a minimum period of six months taking into account any liabilities that are likely to crystallise in the event of the charity partly or wholly ceasing operations and to provide for the funding of anticipated capital expenditure.

5

Mendip Community Transport

Trustees annual report

Year ended 31 March 2022

General funds

At 31 March 2022 the reserves held in the General Fund of the charity amounted to £958,587 (2021 - £988,036) of which £288,804 (2021 - £327,601) was represented by fixed assets; £10,000 was represented by investments in the subsidiary (2021 - £10,000); and £250,000 was represented by a designated fund for the future replacement of vehicles (2021 - £250,000). This leaves free reserves of £409,783 (2021 - £400,435) and Restricted Reserves of £Nil (2021 - £Nil). This level of reserves is within the parameter set by the Board's reserves policy and is considered satisfactory.

Investment policy

The Board has the power to invest in such areas as it sees fit. However, the present policy is not to have investments unless necessary to accumulate for an identified project when the aim would be to invest in a manner consistent with the objectives and timing of the project. Reserves are normally placed on interest bearing deposit accounts.

Going concern assessment

The trustees have considered the going concern status of the charity and conclude that there are no material uncertainties affecting the ability of the charity to continue as a going concern.

Risk management

The Board has assessed the major risks to which the Charity is exposed and has systems and contracts in place to mitigate any impact those risks may present in the future.

Plans for future periods

The Charity continues to receive no funding from Mendip District Council, Sedgemoor District Council and Somerset County Council. The senior management of the charity and its Trustees/Directors are conscious that local authority support will continue to be minimal over the coming years and continue to try and replace the shortfall by expanding the Charity's customer base. MCT however is grateful for the financial support it receives from a number of Town & Parish Councils in the areas it covers.

The management and Trustees/Directors remain conscious of the need to diversify and find new income streams and as a result the company's wholly owned subsidiary was incorporated on 12 January 2006. The subsidiary, MCT Trading Limited was established to operate any commercial activities which might augment the services provided by the charity. The charity invested the sum of £10,000 by way of share purchase in the subsidiary company.

Trustees' responsibilities statement

The trustees, who are also directors 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 charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period.

6

Mendip Community Transport

Trustees annual report

Year ended 31 March 2022

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Robert Edward Powell Trustee

Timothy William Blackburn Charity Secretary

21/12/2022

21/12/2022

7

Mendip Community Transport

Independent examiner's report to the members

Year ended 31 March 2022

Independent examiner’s report to the trustees of Mendip Community Transport (‘the Company’)

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner’s statement

Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting 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 which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Joshua Kingston, Bsc,.ACA Burton Sweet Limited The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR Date: 21/12/2022

8

MENDIP COMMUNITY TRANSPORT

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)

YEAR ENDED 31 MARCH 2022

Note
£
Income from:
Donations and legacies
2
Charitable activities
3
Investments
4
Other
Total income
Expenditure on:
Charitable activities
5
Total expenditure
8
Total funds at start of year
18
Total funds at end of year
18
Net income/(expenditure) and
net movement in funds		 Total Funds
2022
£
939
870,843
2,849
6,900
881,531
910,980
910,980
(29,449)
988,036
958,587		 Total Funds
2021
£
147,927
681,995
2,521
-
832,443
814,489
814,489
17,954
970,082
988,036

All movement in funds in the year and the prior year are in unrestricted funds.

The Charity has no recognised gains or losses other than the results for the year as set out above.

All of the activities of the charity are classed as continuing.

The notes on pages 12 to 21 form part of these financial statements

9

MENDIP COMMUNITY TRANSPORT

BALANCE SHEET

----- Start of picture text -----
AS AT 31 MARCH 2022 Company number: 04376941
2022 2021
Note £ £
Fixed assets
Tangible assets 11 288,804 327,601
Investments 12 10,000 10,000
298,804 337,601
Current assets
Debtors 13 142,268 167,733
Cash at bank and in hand 538,465 503,767
680,733 671,500
Liabilities
Creditors : amounts falling
due within one year 14 (20,950) (21,065)
Net current assets 659,783 650,435
Total assets less current liabilities 958,587 988,036
Net assets 958,587 988,036
FUNDS
Unrestricted funds
General funds 19 409,783 400,435
Designated funds 19 548,804 587,601
Total funds 958,587 988,036
----- End of picture text -----

For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies' Act 2006 relating to small companies.

Directors’ responsibilities:

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

These financial statements of Mendip Community Transport were approved by the Board of Trustees on ….................................. and are signed on their behalf by:21/12/2022

Robert Edward Powell Trustee

The notes on pages 12 to 21 form part of these financial statements

10

MENDIP COMMUNITY TRANSPORT

CASH FLOW STATEMENT

YEAR ENDED 31 MARCH 2022

Note
Net cash inflow from operating activities
16
Non-operational cash flows:
Investing activities
Payments for tangible fixed assets
Proceeds from sales of tangible fixed assets
Interest paid
Investment income
Net cash inflow/(outflow) for the year
17
Cashflow Restrictions		 2022
£
63,081
(37,217)
6,900
(915)
2,849
(28,383)
34,698		 2021
£
37,068
(1,995)
-
(707)
2,521
(181)
36,887

Charity law prohibits the use of net cash inflows on any endowed or other restricted fund to offset net cash outflows on any fund outside its own objects, except on special authority. In practice, this restriction has not had any effect on cash flows for the year.

The notes on pages 12 to 21 form part of these financial statements

11

MENDIP COMMUNITY TRANSPORT

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

1 Accounting policies

Accounting convention

The financial statements have been prepared in accordance with the historical cost convention and in accordance with the Statement of Recommended Practice: Accounting and Reporting by 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 and the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2019.

The charity is a public benefit entity as defined under FRS102. The Trustees consider that there are no material uncertainties affecting the ability of the charity to continue as a going concern.

Income

Income from donations is included in income when these are receivable, except as follows:

I. When donors specify that donations given to the charity must be used in future accounting periods, the income is deferred until those periods; II. When donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred until the pre-conditions have been met.

Legacies are included on a receivable basis where charity is entitled to the income, it can be measured reliably and receipt is probable. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is not included in income but is treated as a contingent asset and disclosed if material.

Investment income is included on a receivable basis.

Donations in kind comprise donated services where the costs are measurable and the services would otherwise have to be paid for to maintain operational effectiveness.

Expenditure

Expenditure is recognised in the period in which it is incurred. Expenditure includes attributable VAT which cannot be recovered.

Raising funds

Raising funds expenditure include those costs incurred in seeking voluntary contributions, costs of goods sold and other costs which include the costs of running and participating in fundraising events and collections and cost of goods purchased for resale.

Charitable Activities

Grants awarded are allocated to charitable activities.

Grants awarded are treated as expenditure and a liability in the accounts as soon as they become legal or constructive obligations. In the case of multi-year grant awards, the funding for all years is immediately recognised unless there are conditions which need to be met by the recipient to enable the release of subsequent years’ funding.

12

MENDIP COMMUNITY TRANSPORT

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

1 Accounting policies (continued)

Governance costs

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the independent examination fees and costs linked to the strategic management of the charity. Governance costs are included within support costs.

Allocation and apportionment costs

Certain expenditure is directly attributable to specific activities and this has been included in those cost categories. Other costs, which are attributable to more than one category, are apportioned across cost categories on the basis of an assessment of workload carried out from time to time.

Overhead support costs have been allocated wholly to charitable activities.

Pension costs and other post-retirement benefits

The charity contributes to defined contribution pension schemes. Contributions payable to the charity's pension schemes are charged to the Statement of Financial Activities in the period to which they relate.

Tangible fixed assets

Fixed assets are held at cost less accumulated depreciation. Depreciation is calculated so as to write off the cost of an asset, less its estimated ultimate residual value, over the useful life of that asset as follows:

Improvements to property - over 10 years; straight line Motor vehicles - over 8 - 10 years; straight line

Plant and machinery - 25% reducing balance

Fixed asset investments

Investments in subsidiaries are included at cost, less any impairment charged during the year.

13

MENDIP COMMUNITY TRANSPORT

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

1 Accounting policies (continued)

Fund accounting

Unrestricted funds can be used in accordance with the charitable objects at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Designated funds form part of unrestricted funds and have been identified as being for particular purposes by the Trustees. They are not restricted and can be transferred to general funds at any time at the discretion of the Trustees.

Further explanation of the nature and purpose of each fund is included in note of the financial statements.

2 Income from: Donations and legacies

Donations and grants
Bus Service Operators grant
Donation from trading subsidiary		 Total Funds
2022
£
2,844
(9,719)
7,814
939		 Total Funds
2021
£
129,871
18,056
-
147,927

All prior year income from donations and legacies was unrestricted.

3 Income from: Charitable activities

Slinky services
School and hospital services
Route and attraction services
Other transport services		 Total Funds
2022
£
360,570
331,202
124,042
55,029
870,843		 Total Funds
2021
£
316,824
233,298
102,903
28,970
681,995

All prior year income from charitable activites was unrestricted.

14

MENDIP COMMUNITY TRANSPORT

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

4 Income from: Investments

Interest received
All prior year income from investments was unrestricted.
Expenditure on: Charitable activities
Provision of transport
Provision of transport		 Direct
Costs
£
610,250
610,250
Direct
Costs
£
496,667
496,667		 Total Funds
2022
£
2,849
2,849
Support
Costs
(Note 6)
£
300,730
300,730
Support
Costs
(Note 6)
£
317,822
317,822		 Total Funds
2021
£
2,521
2,521
Total Funds
2022
£
910,980
910,980
Total Funds
2021
£
814,489
814,489

5 Expenditure on: Charitable activities

6 Support costs

Support costs are allocated wholly to the charity's sole charitable activity.

Support costs, included in note 5 is as follows:

Premises costs
Office costs
Governance costs
(Note 7)		 Total
2022
£
15,499
282,255
2,976
300,730		 Total
2021
£
14,223
298,359
5,240
317,822

15

MENDIP COMMUNITY TRANSPORT

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

7 Governance costs

----- Start of picture text -----
||||| |---|---|---|---| |Total Funds|Total Funds| |2022|2021| |£|£| |Independent Examiner's fees|- for independent examination|2,700|3,000| |- for other services|200|200| |Over/under accrual|76|2,040| |2,976|5,240|

----- End of picture text -----

8 Net income/(expenditure) for the year

This is stated after charging:

----- Start of picture text -----
||||| |---|---|---|---| |2022|2021| |£|£| |Independent examiners fees|- for independent examination|2,700|3,000| |- for other services|200|200| |Depreciation|76,014|83,730| |Operating lease rentals|16,772|15,976|

----- End of picture text -----

No Trustees have been re-imbursed for their out of pocket expenses (2021: none). During the prior year an employee of the Charity, Ian Andrew Martyn, became a Trustee. Any payments made to Mr Martyn from the Charity were in respect of his driving duties and he acts as a Trustee on a voluntary basis, in his own time. This is inline with the Memorandum and Articles of Association as amended on 9 February 2022.

9 Staff costs and numbers

The aggregate payroll costs were:

----- Start of picture text -----
|||| |---|---|---| |2022|2021| |£|£| |Wages & salaries|588,780|526,829| |Social security costs|24,952|20,131| |Pension contributions|6,447|5,042| |Other employee benefits|1,329|1,715| |621,508|553,717|

----- End of picture text -----

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

The average monthly number of employees during the year was 53 (2021: 32), calculated on the basis of average headcount. The total employment benefits received by key management personnel including employer national insurance and employer pension were £40,443 (2021: £37,429).

16

MENDIP COMMUNITY TRANSPORT

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

10 Taxation

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

11 Tangible fixed assets

Cost or valuation
At 1 April 2021
Additions
Disposals
At 31 March 2022
Depreciation
At 1 April 2021
Charge for the year
Disposals
At 31 March 2022
Net book value
At 31 March 2022
At 31 March 2021		 Land and
buildings
£
1,650
-
-
1,650
1,155
165
-
1,320
330
495		 Motor
vehicles
£
965,229
37,186
(54,548)
947,867
642,287
74,990
(54,548)
662,729
285,138
322,942		 Equipment
£
35,809
31
-
35,840
31,645
859
-
32,504
3,336
4,164		 Total
£
1,002,688
37,217
(54,548)
985,357
675,087
76,014
(54,548)
696,553
288,804
327,601

17

MENDIP COMMUNITY TRANSPORT

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

12 Investments

Shares in group undertakings
Cost or valuation
At 1 April 2021 and 31 March 2022
Carrying amount at 31 March 2021 and 31 March 2022
There is no impairment charge to the value of the investment in the year.
13 Debtors
Due in less than one year:
Trade debtors
Amounts owed by group and associated undertakings
Prepayments and accrued income
VAT
14 Creditors: amounts falling due within one year
Trade creditors
Other creditors
Accruals and deferred income
Social security and other taxes		 2022
£
78,004
28,796
21,074
14,394
142,268
2022
£
7,166
1,595
3,482
8,707
20,950		 Total
£
10,000
10,000
2021
£
95,157
28,634
35,089
8,853
167,733
2021
£
6,400
1,357
3,873
9,435
21,065

18

MENDIP COMMUNITY TRANSPORT

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

15 Commitments under operating leases

At 31 March 2022 the charity had total minimum lease payments under non-cancellable operating leases for premises and motor vehicles as follows:

Due within:
One year
Two - five years
Over 5 years		 2022
£
24,298
97,192
25,390		 2021
£
10,882
43,528
36,272

16 Reconciliation of net movement in funds to net cash inflow from operating activities

Statement of Financial Activities: Net movement in funds
Investment income
Interest paid
Gain on disposal of tangible fixed asset
Depreciation
Increase in creditors: current liabilities
Decrease / (increase) in debtors
Net cash (outflow)/inflow from operating activities
17 Analysis of changes in cash during the year
Note
Cash at bank and in hand
Cash at bank and in hand		 2022
£
(29,449)
(2,849)
915
(6,900)
76,014
(115)
25,465
63,081
2022
£
538,465
2021
£
503,767		 2021
£
503,767
2020
£
466,880		 2021
£
17,954
(2,521)
707
-
83,730
(4,967)
(57,835)
37,068
Change
£
34,698
Change
£
36,887

19

MENDIP COMMUNITY TRANSPORT

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

18 Movement in funds

For the year ended 31 March 2022

Unrestricted funds
Designated funds
Tangible fixed assets
Investment in subsidiary
Bus replacement programme
General funds
Total funds		 At 1 April
2021
£
327,601
10,000
250,000
400,435
988,036		 Income
£
-
-
-
881,531
881,531		 Expenditure
£
(76,014)
-
-
(834,966)
(910,980)		 Transfers
£
37,217
-
-
(37,217)
-		 At 31 March
2022
£
288,804
10,000
250,000
409,783
958,587

Designated funds

Tangible fixed assets - these funds represent the value of tangible fixed assets held in the Balance Sheet and are included within a separate designated fund to indicate that these funds are not available to be spent within general funds or free reserves without the sale of the assets. As at 31 March 2022 this reserve amounted to £288,804.

Investment in subsidiary - these funds represent the value of the investment held in the Balance Sheet and are included within a separate designated fund to indicate that these funds are not available to be spent within general funds or free reserves without the disposal of the investment.

Bus replacement programme - These funds have been set aside by the Trustees strategically to replace existing buses as required.

For the year ended 31 March 2021

Unrestricted funds
Designated funds
Tangible fixed assets
Investment in subsidiary
Bus replacement programme
General funds
Total funds		 At 1 April
2020
£
-
-
250,000
720,082
970,082		 Income
£
-
-
-
832,443
832,443		 Expenditure
£
(83,730)
-
-
(730,759)
(814,489)		 Transfers
£
411,331
10,000
-
(421,331)
-		 At 31 March
2021
£
327,601
10,000
250,000
400,435
988,036

20

MENDIP COMMUNITY TRANSPORT

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

19 Analysis of net assets between funds

As at 31 March 2022
Tangible fixed assets
Investment in subsidiary
Other net assets
As at 31 March 2021
Tangible fixed assets
Investment in subsidiary
Other net assets		 Unrestricted Unrestricted
Designated
General
Total
Funds
Funds
£
£
£
288,804
-
288,804
10,000
-
10,000
250,000
409,783
659,783
548,804
409,783
958,587
Unrestricted Unrestricted
Designated
General
Total
Funds
Funds
£
£
£
327,601
-
327,601
10,000
-
10,000
250,000
400,435
650,435
587,601
400,435
988,036

20 Related party transactions

There are no transactions with trustees or other related parties other than those disclosed as required by the SORP elsewhere in the financial statements.

21 Limited by guarantee

The charity is a company limited by guarantee and has no share capital. In the event of winding up, the liability is limited to £1.

21