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2023-03-31-accounts

COMPANY REGISTRATION NUMBER: 04376941 CHARITY REGISTRATION NUMBER: 1094918

Mendip Community Transport

Financial Statements

31 March 2023

Mendip Community Transport

Contents Page

Year ended 31 March 2023

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 2023

ANNUAL REPORT YEAR ENDED 31 MARCH 2023

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 2023.

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 Robert Edward Powell
Ian Andrew Martyn
Rodney Martyn Harris (resigned 15 June 2023)
Richard John Leworthy (appointed 9 February 2022)
Richard Reynolds (appointed 3 November 2022)
Bryan Knickerbocker (appointed 3 November 2022)
Heather Shearer (appointed 31 August 2023)
Stephen Neads (appointed 15 June 2023)
Company secretary Martyn Starnes FCCA
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 2023

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 31 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 (mental 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 2023

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 seven 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 2023 Mendip Community Transport employed 51 staff calculated on the basis of average monthly number of employees - (2022 - 53). During 2022/23 – 31 volunteers (2021/22 - 34) 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 2023.

3

Mendip Community Transport

Trustees annual report

Year ended 31 March 2023

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 2024.

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 Educational 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 31 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 2023

This service was suspended for a period during the Coronavirus Pandemic and many volunteers chose 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 97% of the pre-pandemic levels. The total number of passenger journeys undertaken during the year to March 2023 was 22,127 compared to 18,222 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 67% of that undertaken pre-pandemic.

Fuel cost & supply chain issues

The year to March 2023 continued to be challenging as the Charity came to terms with inflationary pressures and supply chain problems impacting the duration and cost of the servicing and repair of vehicles. Sourcing new vehicles to refresh the fleet also continued to be difficult with extended lead times, lack of availability and increasing prices being experienced.

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 £981.896 for the year compared to £881,531 in the previous year, while the total expenditure was £1,029,421 (2022 - £910,981). This produced a negative net movement of funds of £44,525.

Balance Sheet

At the year end the charity's net assets were £911,062 (2022 - £958,587), of which £412,859 (2022 - £409,783) represented general unrestricted funds and £498,203 (2022- £548,804) 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 2023

General funds

At 31 March 2023 the reserves held in the General Fund of the charity amounted to £911,062 (2022 - £958,586) of which £238,203 (2022 - £288,803) was represented by fixed assets; £10,000 was represented by investments in the subsidiary (2022 - £10,000); and £250,000 was represented by a designated fund for the future replacement of vehicles (2022 - £250,000). This leaves free reserves of £412,859 (2022 - £409,783) 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 to place cash reserves 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 receives no funding from Somerset County Council apart from the contracted services. 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.

6

Mendip Community Transport

Trustees annual report

Year ended 31 March 2023

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.

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

Martyn Starnes Charity Secretary

Jan 11 2024

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:

Jan 11 2024

8

MENDIP COMMUNITY TRANSPORT

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) YEAR ENDED 31 MARCH 2023

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
2023
£
10,771
931,647
3,536
35,942
981,896
1,029,421
1,029,421
(47,525)
958,587
911,062		 Total Funds
2022
£
939
870,843
2,849
6,900
881,531
910,980
910,980
(29,449)
988,036
958,587

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

AS AT 31 MARCH 2023

Company number: 04376941

Note
Fixed assets
Tangible assets
11
Investments
12
Current assets
Debtors
13
Cash at bank and in hand
Liabilities
Creditors : amounts falling
due within one year
14
Net current assets
Total assets less current liabilities
Net assets
FUNDS
Unrestricted funds
General funds
19
Designated funds
19
Total funds		 2023
£
238,203
10,000
248,203
176,814
515,778
692,592
(29,733)
662,859
911,062
911,062
412,859
498,203
911,062		 2022
£
288,803
10,000
298,803
142,268
538,465
680,733
(20,950)
659,783
958,586
958,586
409,783
548,803
958,586

For the year ending 31 March 2023 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:Jan 11 2024

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 2023

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		 2023
£
(38,886)
(37,807)
51,117
(647)
3,536
16,199
(22,687)		 2022
£
63,081
(37,217)
6,900
(915)
2,849
(28,383)
34,698

Cashflow Restrictions

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 2023

1 Accounting policies

Accounting convention

The financial statements have been prepared in accordance with the historical cost convention (except where otherwise stated in the accounting policy note) 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 Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), and the Companies Act 2006.

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 2023

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.

Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors

Creditors and provisions are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable of a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Creditors are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted and the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

13

MENDIP COMMUNITY TRANSPORT NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2023

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 notes of the financial statements.

2 Income from: Donations and legacies

Donations and grants
Bus Service Operators grant
Donation from trading subsidiary		 Total Funds
2023
£
2,340
8,431
-
10,771		 Total Funds
2022
£
2,844
(9,719)
7,814
939

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
2023
£
382,288
351,638
132,851
64,870
931,647		 Total Funds
2022
£
360,570
331,202
124,042
55,029
870,843

All prior year income from charitable activities was unrestricted.

14

MENDIP COMMUNITY TRANSPORT NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2023

4 Income from: Investments

Interest received Total Funds
2023
£
3,536
3,536		 Total Funds
2022
£
2,849
2,849

All prior year income from investments was unrestricted.

5 Expenditure on: Charitable activities

Provision of transport
Provision of transport		 Direct
Costs
£
724,482
724,482
Direct
Costs
£
610,250
610,250		 Support
Costs
(Note 6)
£
304,939
304,939
Support
Costs
(Note 6)
£
300,730
300,730		 Total Funds
2023
£
1,029,421
1,029,421
Total Funds
2022
£
910,980
910,980

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
2023
£
14,740
284,671
5,528
304,939		 Total
2022
£
15,499
282,255
2,976
300,730

15

MENDIP COMMUNITY TRANSPORT NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2023

7 Governance costs

----- Start of picture text -----
||||| |---|---|---|---| |Total Funds|Total Funds| |2023|2022| |£|£| |Independent Examiner's fees|- for independent examination|3,560|2,700| |- for other services|1,968|200| |Over/under accrual|-|76| |5,528|2,976|

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

8 Net income/(expenditure) for the year

This is stated after charging:

----- Start of picture text -----
||||| |---|---|---|---| |2023|2022| |£|£| |Independent examiners fees|- for independent examination|3,560|2,700| |- for other services|1,968|200| |Depreciation|72,548|76,014| |Operating lease rentals|50,536|16,772|

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

No Trustees have been re-imbursed for their out of pocket expenses (2022: none). From February 2022 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 -----
|||| |---|---|---| |2023|2022| |£|£| |Wages & salaries|619,173|588,780| |Social security costs|30,275|24,952| |Pension contributions|7,986|6,447| |Other employee benefits|1,480|1,329| |658,914|621,508|

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

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

The average monthly number of employees during the year was 51 (2022: 53), calculated on the basis of average headcount. The total employment benefits received by key management personnel including employer national insurance and employer pension were £42,094 (2022: £40,443).

16

MENDIP COMMUNITY TRANSPORT NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023

10 Taxation

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

11 Tangible fixed assets

Cost or valuation
At 1 April 2022
Additions
Disposals
At 31 March 2023
Depreciation
At 1 April 2022
Charge for the year
Disposals
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022		 Land and
buildings
£
1,650
-
-
1,650
1,320
165
-
1,485
165
330		 Motor
vehicles
£
947,866
37,134
(93,276)
891,724
662,729
71,381
(77,417)
656,693
235,031
285,137		 Equipment
£
35,840
673
-
36,513
32,504
1,002
-
33,506
3,007
3,336		 Total
£
985,356
37,807
(93,276)
929,887
696,553
72,548
(77,417)
691,684
238,203
288,803

17

MENDIP COMMUNITY TRANSPORT NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2023

----- Start of picture text -----
12 Investments
Shares in group undertakings
Total
£
Cost or valuation
At 1 April 2022 and 31 March 2023 10,000
Carrying amount at 31 March 2022 and 31 March 2023 10,000
There is no impairment charge to the value of the investment in the year.
13 Debtors
2023 2022
£ £
Due in less than one year:
Trade debtors 94,995 78,004
Amounts owed by group and associated undertakings 29,946 28,796
Prepayments and accrued income 20,508 21,074
VAT 31,365 14,394
176,814 142,268
14 Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 13,700 7,166
Other creditors 2,527 1,595
Accruals and deferred income 3,420 3,482
Social security and other taxes 10,086 8,707
29,733 20,950
----- End of picture text -----

18

MENDIP COMMUNITY TRANSPORT

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2023

15 Commitments under operating leases

At 31 March 2023 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		 2023
£
84,114
236,762
14,669		 2022
£
24,298
97,192
25,390

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
Analysis of changes in cash during the year
Cash at bank and in hand
Cash at bank and in hand		 2023
£
(47,525)
(3,536)
647
(35,257)
72,548
8,783
(34,546)
(38,886)
2023
£
515,778
2022
£
538,465		 2022
£
538,465
2021
£
503,767		 2022
£
(29,449)
(2,849)
915
(6,900)
76,014
(115)
25,465
63,081
Change
£
(22,687)
Change
£
34,698

17 Analysis of changes in cash during the year

19

MENDIP COMMUNITY TRANSPORT NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2023

18 Movement in funds

For the year ended 31 March 2023

Unrestricted funds
Designated funds
Tangible fixed assets
Investment in subsidiary
Bus replacement programme
General funds
Total funds		 At 1 April
2022
£
288,804
10,000
250,000
409,783
958,587		 Income
£
-
-
-
981,896
981,896		 Expenditure
£
(72,548)
-
-
(956,873)
(1,029,421)		 Transfers
£
21,947
-
-
(21,947)
-		 At 31 March
2023
£
238,203
10,000
250,000
412,859
911,062

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 2023 this reserve amounted to £238,203.

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 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

20

MENDIP COMMUNITY TRANSPORT

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2023

19 Analysis of net assets between funds

As at 31 March 2023
Tangible fixed assets
Investment in subsidiary
Other net assets
As at 31 March 2022
Tangible fixed assets
Investment in subsidiary
Other net assets		 Unrestricted Unrestricted
Designated
General
Total
Funds
Funds
£
£
£
238,203
-
238,203
10,000
-
10,000
250,000
412,859
662,859
498,203
412,859
911,062
Unrestricted Unrestricted
Designated
General
Total
Funds
Funds
£
£
£
288,803
-
288,803
10,000
-
10,000
250,000
409,783
659,783
548,803
409,783
958,586

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