Travol Community Transport (Limited by Guarantee) Annual Report and Financial Statements for the year ended 31 March 2024 Companies House Registered Number: 04573868 Registered Charity Number: 1096235
Travol Community Transport ILimitrd by Guarantee) Annual Report and Financial Statements for the year ended 31 March 2024 Contents Pages TruseS. advisers and prin¢ipal grants received Trustees, Report Auditors. Report 8-10 Staiement of Financial Activities li Balance Sheet 12 Cash Flow sLeMent 13 Note5 to the Financial Statements 14-22
Travol Community Transport (Limited by Guaranfrel Trustees, advisers and principal grants received Registered Charity No 1096235 Trustees {who act as Directors for the purposes of eompany law> The Trustees during the year. together with ¢hang&% to the date of approval of the financial Statements were:_ M. D. Coundley {Chairnian) C. Paull (Treasurer) R. Davies Website https:/ltravol.co.ukl Principal & Registered OlCe Unit 8 Maritime Offices Woodland Terrace Maesycoed CF37 IDZ Independent Auditors R.H. J¢ffs & Rowe Chartered Accounlanls 27128 Gelliwasted Road Poniypridd CF37 ?BW Principal Bankers Lloyds Bank plc Market Sireet Ponlypridd Rhondda Cynon Taf CF37 2TF Solicitors Spicketts Solicitors Gelliwastad House 34 Gelliwasthd Road Pontypridd CF37 2AU Principal grants received Welsh Governmeni Rhondda Cynon Taf County Borough Council SEWTA Page I
Travol Community Transport ILimk(ed by Guarantee) Trustees, report for the year ended 31 March 2024 Trustees, report The Trustees, (a5 listed on previous paoe) pre5eni their report along with the audiied fmancial statement of Travol Community Transport I'the Charity") for the year ended 31 March 2024. The financial statements have been prepared on the basis of the accounting policies Set out on pages 14 to 22 as part of the notes lo the financial siatements and comply with the Charity's trust deed and applicable law. The financial statements have been prepared in accordance with the Statement of Recon]mended Practice Accountino and Reporting by Charities 2019 (SORP 2019), Finanial Reporting Standard applicable in the United Kingdom and the Republic of Ireland (FRS 102). the Companies Act ?006 and the Charities Act ?01 I, using consistently applied accounting policies. Incorporation and tratLsfer of net a&sets Travol Community Transport was Incoryrnted on ?5 October ?00? and commenced trading on l April ?003. In March 2003. the Trustees of a Regislered Charity. the Volunteers Support Group (Charity Commission Number 702530) agreed lo Iransfer the net asseis of ihat Charity to the Directors of Travol Community Transport to hold in trust and to CODtinue the work of the Volunteers. Supwrt Group as an incorporated entity. Charitable objectives The main activities of the Charity and who we help are described below. All our charitable activities focus on the provision of a community (ransport service and are undertaken to further our charitable purposes for publi benefit. The principal objective of the Charily is to provide a community transport service for the inhabitants of Rhondda Cynon Taf and its neighbourh(K)d, who are in need of such a service because of age, sickness or disability (menial or physical) or poverty, or because of the lack of availability of adequate or safe public passenger services. Our aim is to provide equal opportunity LO ail of our clients thTough enabling equal access lo employment, health. education. leisure and social activities. Although the pritnary objective of the Charity remains unchanged. the lack of grant funding from historic sources has caused the Charily to increasingly rely on income dervied from coniracted services to Rhondda Cynon Taf County Borough Council (RcfcBC). As the majority of contracted journeys relate to Thome LQ School transport, for disabled children. this has litnited service availability for other clients during peak school run hours. During the year ended 31 March 2024 the total number of client journeys undertaken decreased by 8.1¢% (2023; 2.7% incttase} in comparison to the previous Ye (2024- 29.902.. 2023 32,522). Reduced availability of vehicles, following cathstrophic engine failures on two of the Charitys older vehicles. neces51taled that we ternlinate certain contracts with Rhondda Cynon Taf County Borough Council and this fully accounts for the reduction in the passenger numbers. The Charity is a mevnber of the Communily Transport Ass(Kiation (Registered Charity number 1002222). Thi5 IS an umbrella organisation which provides general 5UPPOrt and advice to its members. Page 2
Travol Community Transport ILimAted by Guarantee) Truste, report ror the year ended 31 March 2024 Constitution Travol Con]munily Transport is a company limited by guarantee 2nd. a¢¢ordingly, the governing document is the Company's Memorandum and Article5 of Association. The liabiliiy of each Trustee. in the event that they are called upon to contribute. is limited to £ l. Organisational structure and appointment of directors The Charity is administered by a Management Committee, which 15 composed of the Directors of the Company. The ManageTnenl Committee has the power to admii to membership any individual or entity which supports the charitable objeciives. New Management Committee members are elected individually at the Annual General meeting from individual tnember5 of the Company or from persons nominated by oroanisations which are members. The Management Committee rnay also co-opt up to two other persons. whether or not rnetnbers of the Company. to serve as Comtnittee Members. Trustee Directors induction and training Newly appointsd Trusiees undergo an induction and familiarisation day to brief thetn on their legal obligations under charity and comnpany law. the content of the Memorandum and Articles of Association, the committee structure and decision tnakints processes. During the induction day, Trustees are introduced to key personnel and are provided with brief detalls of each employee s duties. Trustees are encouraoed to actend appropriate external trainino sesstons. Public benefit The Trustees Conf that they have compLied wilh the duty in the Charities Aci 201 I to have due regard to public benefit guidance published by Ihe Charity Comtnission. The significant activities undertaken lo carry out the Charity's aims for the public benefit and our achievements me&sured against those aims are provided on page 2. Investment powers and policy Under the tenns of the Memorandum and Articles of Association, the Trustees have general powers of investmenL subjecl to the provisions of the general law. Page 3
Travol Community Transport {Limi(ed by Guaranie¢} Trnstees, report for the year ended 31 March 2024 Financial results and future activities RCTCBC I SEwfA provides grant funding to enable the Charity to operate the service and the Charity is also entitled to receive a capped fare for those clients using their Concessionary Fare5 bus pass. The mileage related income for the year decreased by 7.?go to £206.173 (?0?3.. £22?.08?) which 15 primariEy due to contract5 with Rhondda Cynon Taf Counry Borough Council having to be handed back as a consequence of shortages in the number of vehkcles in use and the reduced availability of volunteer passenger assistants. The Financial results for the year show net outgoing resources on restricted funds of £36,491 (2023.. £84,247). This represents the difference between the capital grants received to puhse new vehicles and the depreciation charge on these and oiher oranl-sponsored vehicles pUrch1ed in prior years. In oeneral. where the Charlty has received a reslricled granl, the grnnt only pan funds the total project cost, leaving the Charity to fund the balance of expenditure from unresiricted funds. During the year the general fund generated a surplus of £3,462 (2023: £5,953). which reSuld in the Charity having "free" unrestricted funds of £323,049 at 31 March 2024 (2023.. £319,5871. The Trustees have not made any fonnal designations for these tunds. alrhough the requirement io replace vehicles is always taken into account in aiiy decision to commit the Charily to tnajor expenditure. During the 2013114 financial year discussions took place with the Corporate Transport unil of Rhondda Cynon Taf CBC (RCTCBC), wherein the Charity wa5 encouraged to operate a Concessionary Fares service under Section 22 of the Tran5POrt Act. to enable persons resident within the area to have continued access lo hospitals, shops and other services. The service is 'lree of charge, to clients who posse$8 a Concessionary Fares Pass (persons with a Blue Badire or are aged over 60 are eligible to apply) but is also available to other full tare paying passengers. The RcfcBC/SEWTA .tsrants have not, historically. covered the full cost of operating this service. necessitating that the Charity use some of its, free reserves. However, as demand for the service fell dramatically durino ihe Covtd-19 pandemic the Welsh Government has conÈinued to provide the Charsty with additional financial support to offsei the loss of fare income. Ehereby enabling the Chan'ty to continue operating this service as usual for residents still requiring Ihe service. Page 4
Travol Community Transport (Limitrd by Guaran) TrStee5, report for the year ended 31 March 2024 In May 2021 the Chartty received (via the Communiiy Transport Association} a Welsh Government grant of £130,046 to purchase two electricallv powered vehicles and to install on-site E.V. chargin- facilities. In April 2021 orders were placed for the equipment and the E.V. char(wers were installed in June 2021. However, global supply problems for certain componeni parts required in the manufacture of the vehicles caused a series of delays in delivery of the converted vehicles ordered. The 7 seat VauKhall Vivaro eventually arrived in March ?0?? and the 14 seat Flat Ducato w&s delivered in April 2022. Whilst Ihese vehicles have proved to be reliable and popular with clients and our drivers, their operational range before needing a recharge is lower than is required to permit the vehicles to be used for a full day thereby enabling the vehicles to be just rechartred overnioh(. The lack of local E.V. rechargints infraslrncture lo faciliiate recharging whist the vehicle5 are waiting at schools or route Lerniinus points necessilates thar the vehicles have to return io base at least once during the day for a 'top up, recharge. Notwithstanding these range issues, the Ch1[Y remains committed to making all efforts to replace all its diesel poWed vehicles with E.V.'s by the end of the decade. Improvements in bat*ry technology over the past year have given the Director's hope that E.V.'s purchased in the fuNre will have a grear operational range and rapid recharge capability. The Charity will continue to work wilh closely our Locat Authority to explor¢ ways to improve publicly available E.V. rechllrtsing facilities. Volunteer drivers and escorts In addition to the drivers and passenger assisthnts employed directly by the Ch8rk(y. the Charity is also heavily reliant on its. tellm of volunieer passenger assistants. As all drivers are required to possess a current PCV Licence, no volunteer% were available to act in this capacity. Retrrettably. several long servino volunteers were lost during the Covid-l9 pandemic and the Charity has encountered severe difficulty in retaining andlor recruiting the number of volunteers needed. The Trustees wish io fonnally record their thanks to those volunteers who provtded their setvices during the year, without whom the Charily would not have been able to assist so many clients. Risk management The Trustees periodically review the major risks to which the Chariry is exposed, in particular those related to lis operations and finances, and are satisfied that SysmS are in place to mitigate exposure io major risks. Reserves Policy The Trustees rely on the principal sp)Thsors to provide project funding which assists in meeting the ¢osts of providing the service. The Charity employs a number of staff directly. with the current annualised wage cost (as at I September ?024) being approximately £? I?.000. In addiiion, and dependent on the number of new vehicles purchased with Specific funding. the Trustees would seek to replace at least one of the specially adapted tninibuses, at a cost ol up lo £90,000, each year. Grant funding for capital additions will be sought wherever possible but. where this is not available. the Tntee$ will be oblioed to Use the Chariry's unrestricted funds. Consequently, the Trustees consider that. ideally. the minimum unrestricted reserves with which the Charity should operate is £450.0(K). This amouni is reviewed annually depending on the level of the Charity's activilies Page 5
Travol Community Transport {Limiied by Guarantee) Ttee$, report ror the year ended 31 March 2024 The Charily's unrestricted reserves at 31 March 2024 were £323.049 12023.. £319.587), which falls short of the above miniTnum. The Charity has continued to make periodic approaches to the National Lottery Fund Coaltields Regeneration Fund for funding to replace older vehicles without success. However. during the 2021122 financial year the Charity received a granl of £130.046 Irom the Welsh Government (via the Community Transport Associaiion) to purcbase two electrically poWed wheelchair accessible vehicles and to install EV chartstng points. After a series of manufacturing delays the vehicles ordered were eventually delivered in March and April 2022. The Trus(ees believe that securin%Y future funding to replace vehicles is likely to pose a significant challenge for some time 10 come. as the Government has had to borrow heavily to support the EconoTny. and other traditional funding sources have significantly depleted their reserves in supporting community based projects during the Covid-19 crisis. Independent Auditors So far as the Trustees are awe. there is no relevant audit inforniation (rhat is, infornmtion needed by the Charity's audiiors in connectlOD with preparing their report) of which ihe Charity's auditors are unaware. and the Trustees have taken all Steps that they ought to have taken in order lo make themselves aware of any relevant infonnation and to en5UTe that the Charity'5 auditors are aware of that infornMtion. R H Jeffs & Rowe were appointed as auditors lo the Chariry in October 2021. Small companies exemption In preparinu this report. the directors have thken advanta(ye of the small companies exemp(ions provided by section 415A of the Cotnpanies Act ?006 in relation to the exclusion of the prepatation of a Strategic Report. Statement of Trusteos, RespoDsibilitios The truseS, are responsible for preparing the Annual Report and the financial statement5 in accordance with applicable law and regulations. The law applicable to charities in England & Wales requires the trnstees, to prepare financial 5tattmeThts for each financial year in accordance with United Kinodom Generally Accepted Accounting Practice (Uniled Kingdom Accounting Standards and applicable law). The trustees, musi not approve the financial statements unless they are satisfied that they give a te and fair view of ihe stale of affairs of the clwity and of the incoming resources and application of resources. including the income and expenditure, of the charity for that period. In preparing these financial statements, the trustees. are required to: select suitable accounting policies and then apply theTn consistently: observe the meihods and principles in the Charities SORP: make judgments and accounting estimaies that are reasonable and prudent; state whether applicable UK Accounting Standards have been followed. Subject to any material departures disclosed and explained in the financial statements". and prepare the flnancial slatements on the going concern basis unless it is inappropriate to presume that the charitable company will continue to operate. Page 6
Travol Communitv Transport (Limited by Guarantee) Trustees, report for the year ended 31 March 2024 The trustees, are responsible for keeping sufficient accounting records that disclose with rei8onable accuracy at any time the financial position of the charity and enable them to ensure thdl Ihe financial statements comply wiih the Charities Act 201 I, the Charity (A¢¢ounts and Reports) Regulations 2(K)8 and the provisions of the trust deed. They are also responsible for safeguardlntr the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregulariiies. In so far as the trustees. are aware: there is no relevant audit infonnation of which the charity's auditor is unaware: and the trustees have taken all step5 that they ought lo have taken to make themselves aware of any relevant audit iThtormation and io establish thai the auditor is aware of tliat infomiation. The ttusiees, are responsible for the maintenance and integrity of the charity and financial infonnation included on the charity's website. t£gislation in the United Kingdom tsoverning the preparation and dissemination of financial staiements may differ from legislation in other jurisdictions. This report was approved by the Board of Trustees on 22 October 2024 and was signed on ILS behalf by: Ipa C Paull Trustee and Treasurer Page 7
Unqualified Audit Report Independent auditors, report to the members of Travol Community Transport Company limited by guarantee Opinion We have audited the flnancial stalements of Travol Communily Transport (the 'charitable company J for the year ended 31 March 2024 which comprise the Statement of Financial Activities, Balance Sheei. Cash Flow Statement and notes to the financial statements. including a Summary of significant accouniino policies. The financial reporting framework that has been applied in their preparniion is applicable law 2nd United Kingdom Accounting Siandards. including Financial Reporting Standard 10? The Financial Reportin. Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements.. give a true and fair view of the stale of the chartthble company's affairs as at 31 March 2024 and of its incoming resources and applicacion of resources, includints its income and expenditure. for the year then ended: have been properly prepared in accordance with Uniled Kinodom Generally Accepted Accounting Practice; and have been prepared in accordan¢e with the requiremenis of the Companies Act 2006. Basis for opinion We conducted our audit in a¢¢ordance with International sLdards on Audiling {UK) (ISAS (UK)) and applkcable law. Our responsibililtes under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable cotnpany in accordance with the ethical requirements that are relevant to our audit of the financial staternents in the UK. including the FRC'S Ethical Stand&rd, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe thai the audit evidence we have obtained is suffLcient and appropriaie lo provide a basis for our opinion. Conclusions relating to going concern We have nothing to report in respect of rhe following matters in relation to which the ISAS (UK) require us to report to you where.. the trnsiees. use of the going concern basis of accounting in the preparation of the financial statements is not appropriate. or the trustees have not disclosed in the financial statements any identified maieriai uncertaintie5 that may east signifLcant doubl about ihe company's ability to coniinue to adopt the gointr concern b&sis of accoun(ing for a period of at least twelve months froTn the date when Ihe financial siaiements are auth0ri5ed for issue. Other information The trustees are responsible for the other inforniation. The other informlOn comprises the inforn]aiion included in the Trustees, Annual Report other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other infonnalion an(L except lo the exieni otherwise explicitly stated in our report, we do nol express aThy fomi of assurance conclusion thereon. In connection with our audit of the financial statements, our re5EK>nsibility is lo read the other inlormaiion and. in doing so, Consider whether the other inf0MtIo[l 15 materia]ly inconsistent with the financial statements or our knowledge obtained in the audit or otheiSe appears to be ma*rially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misslatemenl in the financial stateEnents or a malerial missiatement of the other iThfornia(ion. If. based on the work we have performed. we conclude that there is a tnaterial missiatement of this other inforniation. we are required to report that fact. We have nothing w report in this regard. Page 8
Unqualified Audit Report Independent auditors, report to the members of Trnvol Community Transport Company limited by guarantee Opinions on other matters prescribed by the Companies Act 21)06 In our opinion, based on the work undertaken in the course of the audit- the informa(ion given in the trustees, report which includes the directors. report prepared for company law purposes. for the financial year for which the financial statements are prepared is consistenr with the financial sialemenrs- and the directors, report included within the Irustees. report has been prepared in accordance with applicable legal requittments. Matters on which we are required to rert by exception In the litshi of the knowledge and understandintr of the charitable company and its environment obtained in the course of the audit. we have not identified maierial misstatements in the ¢rusiees' report. We have notliing io repoff in respect of the following matters where the Companie5 Act 2006 qUireS us to report to you if, in our opinion- the charity has not kept adequaie accounting records. or returns adequate for our audii have not been received from branch&% not V15iied by us; or the financial statements are not in aoreement wilh the accounting records and returns: or certhin disclosures of trustees, reTDuneration specified by law not made. or we have not received ail Ihe infomiation 2nd explanations we require for our audit. Responsibilities of trustees As explained more fully in the trustees, responsibilities statement the tNstees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied Ih&i they give a true and fair view, and for such internal conirol as the trustees delern]ine is necessary to enable the preparation of financial statements that are free from material misstaternent, whether due to fraud or error. tn preparing the financial statements, the tmstees are responsible for assessing the chariLqble company's ability to continue as a going conLern. disclosing. as applicable, matters related to ooing concern and using the OIng concern basis of accounting unless the trustees either intend to liqu1da the charitable comp2ny or to cease operations, or have no realistic alternative but to do so. Auditor's rosponsibilities for the audit of the financial statements Our objectives are to obiain reasonable assurance about whether the financial staiements as a whole are free from material misstatement, whether due to fraud or error. and 10 issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misslatemeni when it exists. Misstatements can arise froTD fraud or error and are considered material if. individually or in the aggregate. they could reasonably be expected (o infiuence the economic decisions of users taken on the basis of these financial slaterneThts. Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above. to detect material misstatements in respect of irregularities, including fraud. Based on our understanding of the Charity and Its activities, we identified that the principal risks of non-compliance with laws and regulations related to the Chwities Act 2011, Charities Statement of Recommended Practice, UK tax legislation. pensions legislation, employment gUlatIon and health and safety regulation, anli-bribery, corruption and fraud, money laundering and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements, such as the Companies Act ?006. We evaluaied the Truslees. and management'5 incentive5 and opportunities for fraudulent manipulalion of the financial statements {including the ri%k of override of conlrol.s) and determined thai the principal risks were related to manipulalion of financial performance. managemeTht bias through judgements and assumptions in significant accounting estimates, in particular kn lati0Th to use of resleted funds, and significant one-off or unusual Efdnsactions. Page 9
Unqualified Audil Report Independenl auditors, report to the members of Trnvol Community Transport Company limited by guarantee Our audit procedures were de5itsned to respond to those ideniified risks. including non-compliance with laws and regulations (irrequI11ies) and fraud that are material to the financial slatements. Our audit pr(Kedures Included but were not limited to: discussing wiih the Trustees, and management their policies and procedures retrarding ¢omplian¢e with laws and regulations; ommunicating identified laws and regulaiions throughout our engagement team and remaining alert to any indications of non-compliance throughout our 2udit- and considering the risk of acts by the Charity which We contrary to appllcable laws and gUlations. including fraud. Our audit procedures in relaiion to fraud included but were noi limited to- making enquiries of the Trustees, and tThanagement on whether they had knowledge of any acthal, suspecied or alleged fraud- gaining an understanding of the internal controls established to mitigate risks related io fraud- discussing amongst the engagement team the risks of fraud.. and addTessiThu the risks of fraud through managemeni override of controls by performing journal entry testing. There are inherent limitation5 Ln ihe audit procedures de5¢ribed above and the primary responsibility for the prevention and detection of irregularities includina fraud rests with rnanagemeni. As with any audit. there remained & risk of non-detection of irregularities, as these may involve Collusion, forgery, inlentional omissions, misrepresentations or the override of internal controls. A further description of our responsibilities for the audit of the fman¢ial statements is located on the Financial Reporting Council's websiie at.. https'.l/www.frc.orts uklaudiiorsresponsibilities. This description fornis part of our auditor'5 report. Use of our report This report is rnade solely 10 the charitable company's members. as a body. in accordance wilh Chapter 3 of Part 16 of the Companies Act ?006. Our audii work has been undertaken so that we might state to the ¢haritable company's mexnbers those matters we are required to Stale to them in an auditorf5 reIx)rt and for no other purpose. To the fullest extent pern]itted by law, we do not accept or assume responsibility to anyone oiher than the ¢haritable company and the charitable company's Members as a b(Kly. for our audit work. for ihi.g report. or for the opinions we have formed. RobertThorrias Bsc FCA Senior Statutory Auditor for and on behalf of R.H. Jeffs & Rowe, Statutory Auditors & Chartered Accountants 27128 Gelliwasted Road Pontypridd CF37 2BW Page 10
Travol Community Transport (Limiied by Guaranleel Statement of Finaneial Activities for the year ended 31 March 2024 Util Restricted Funds at Funds Funds 31103124 Funds at 31103123 Income & endowments from: Charitable activities'.- Income arising from the provision of the service 206.173 206,173 222.082 Generated lund%'. In¢ome arising from grants 81,514 81,514 202.536 Donations received 30 Investment incotne and interest 6.692 6,692 2.724 Totsl Income & endowments 296.379 296.379 427.372 Expenditure on: Charitable Activities 292.917 36,491 329.408 337,172 T(btal Expenditure 292.917 36,491 329.408 337,172 Movement in total funds for the year: Net Incomel(Expenditure) 3.462 (36.491) (33,029) 90,200 Net Income after traDSters 3.462 (36,491) (33,0?9) 90,200 Fund Balances brought forward 319,587 102,622 422,209 332,009 Fund Balances carried forward 323.049 66,131 389,180 422,209 The nel outgoing resources arise wholly Irom contiThuing operdtions. The Statement of Financial Activities includes all gains and losses for the year. There is no material differencc between the net outgoing resources for the above financial years and their historical cost ¢quivaienlb. Page 11
Travol Community Transport ILimi*d by Guaraniee) Company number 04573868 Balance Sheet as at 31 March 2024 2024 2023 Notes Fixed Assets Tangible assets 61,073 102,314 Current Aets Debiors Cash at bank and in hand 20.783 365.683 40,391 355,666 Total Current Awts 396.057 Creditors: amounts falling due within one year (40.459) {59,462) Net Current Assets 346,007 336.595 Total Assets Current Liabilities 407.080 438.909 Provisions for Liabiliti and Charges io (17,900) (16.700) Net Assets 389.180 4?? ?09 The funds of the Charity UThrestricted Funds Restricted Funds 13 13 323.049 66.131 319,587 10?,62? 389,180 422.209 Under Companies Act ?006. S454. on a voluntary basis. the trustees can amend rhese financial statements if they subsequently prove to be defectiv¢. The financial statetnents were approved by the Trnstee Board on 22 October 2024 and signed on its behalf by R4- C Paull M D Coundley Page 12
Travol Community Transport I"M11¢d by Guarante¢) Cash Flow Statement for the year ended 31 ML arch 2024 2024 2023 Notes Cash flows from operating activities Net Movement in funds Depreciation Decrease in debtors Increase/(Decrease) in creditors Deduci interesl kncome Increase in provision for long-terni liabilities (33,029) 41,241 19,608 (19,003) {6,69?) 1.200 90.200 43,866 54.334 ( IIK).822) (?.7?4) 1.200 Net cash inflow from operating activities 3,325 86,054 Net cash inflow from operating acliviues Capital expendIre 3.325 86,054 (70,873) 3,325 l5.181 Cash flows from invLsting activities Interest fron] Investments 6,692 2.724 IncreasellDecreasel in cash in the year 10,017 17.905 Cash & Cash equivalents at start of the year Cash & Cash equivalents at end of the year 355,666 337.761 365,683 355,666 Page 13
Travol Community Transport ILAmiied by Gunte¢) Notes to the financial statements for the year ended 31 TrIarch 2024 Statutory Inforniation Travol Community Transport is a Charithble Company limited by guarantee incorporated in England and Wales and domiciled the United Kingdom. The registered Olce is Unit 8 Marttime Offices, Woodland Terrace, Maesycoed. Pontypridd. CF37 IDZ. The nature of the charity's operations and principal activities is disclosed within the Trustees ReporL The financial statements are presented in SrlIng (£), the charity's nctional currency, and rounded to the nearest pound. The significant accountintr policies applied in the pparatIOn of these financial statements are set out below. These policies have been consisiently applied to ail years presented unless otherwise stated. Accounting Policies Basis of preparation and a&s£ssment of going concern The accounts (financial statements) have been prepared uner the historical cosi convention with items recogni.qed at cosi or transaction value unles% otherwise slated in the relevant note(s) to these accounts. The financial statements have been ppared in accordance with the Statement of Recommended Practice.. Accouniing and Reportin- by Charicies preping their accounts in accordance with Financial Reporting Siandard applicable in the UK and Republic of treland (FRS 10?) issued on 16 July 2014 and the Financial Reportintr Siandard, applicable in the United Kingdom and Republic of Ireland (FRS 10?) and the Charities Act ?0 l L. The charity constitutes a public benefit entiry as defined by FRS 102. The trustees have considered the cominu financial year 2nd conclude that there are no material uncertainties about the charities ability io continue as a uoing concern. The trustees confm tbat as far as they are aware, there is no levant audit information of which the charitable company's audilors are unaware; and they have taken all the step5 that they ought to have taken to make themselves aware of any relevant audit infornlL0ll and to establish that the auditors are aware of that information. Page 14
Travol Community Transport (Limited by Gntee} Notes to the financial statements for the year ended 31 Nlarch 2024 1.2. Income & Endowments incoming resources ar¢ included in the Statement of Financial Aciivlties wben the charity is entitled to the income and the amount can be quantified with reasonable ac¢uracy. The following specific policies are applied io particular categories of income: Voluntary income is received by way of donalions, gifts and unconditional grants and included in full in the Statement of Financial Activities when receivable. Income for charitable services ineluding agency work that is received by way of grants. donaiions and contrncts. Where income is dependent upon perforniance and specific deliverable5, income is included in the Statement ol Financial Activities as the charity earns the right to considerniion by its perforniance. Where relevanL dona*d services and assets are included at the value to the chariry where this can be quantified. The value of services provided by volunteers h&s not been included in these accounts. d. Investment income is included when receivable. Government grani income is included for the periThls for which it has been awarded. If there is no specific peri(Kl for which it has been awarded then it is included when received. 1.3. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or con5trUCtive obligation Committing the charity to Ihai expendÉlure, il is probable that settlement will be required and the amount of rhe obligation can be measured reliably. All expenditure ts accounted for on an accNals basis. Expenditure includes any V AT which cannot be fully recovered. Charitable expenditure comprises those costs incurred by the ChilY in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs ol an inditeci nature necessary to support theuL Govemance Costs include those costs associa1 with meeting the constitucional and statutory requirements of the charity and include the audit fees and cosis linked to the strategic management of the Charity. All ¢osts are allocated between the expendilure categories of the Statement of Financial Activities on a basis designed Co reflect the use of the resource. Costs relating to a particular activlty are allocated directly, others are apportioned on an appropriale basis. Page 15
Travol Community Transport (Limiied by Guarantee) Notes to the fin2neial statements for the year ended 31 Lwlarch 2024 1.4. Tangible fixed 2&sets and depreciation Depreciation is provided a( rates calculated io write off the cost less 51dva1 value of each asset over ils eAted useful life. as follows.. Vehicles 25% Straight line basis per amium. Fund Accounting The unrestricted funds of the charity comprise those moThie5 which are available to be used towards the meeting of the charitable objectives of the charity at the discretion of the Management Committee. The restri¢ied funds are monies rdised or received for a specific putpose and a¢¢ounted for in accordance wilh the donors imposed Conditions. 1.6. T&xation Travol Communily Transport is a regisiered charity. and a5 such, is entitled to certain exemptions on income and proflls from investhients and surplus on any trading a¢tiviues carried on in furtherance of the Charity's primary objectives, if these profits and surpluses are applied solely for charilable purposes. trrecoverable Value Added Tax is charged io the relevant expenditure heading to which the net co¥1 is associated. Debtors & Creditors Trade debiors and other debiors are recognised ai the settlement amount due after any trade discounts offered. Prepayments are valued at the amount prepaid net ol any discounts due. Creditors are recognised where the chariiy has a present obligalion resultino from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the oblig&tion can be measured or estimaled reliably. Creditors are noMllY recognised at their settlement amount after allowing for any trade dis¢ounts due. 1.8. Pensions The organisation operdles a defined contribution scheme for its employees. Conuibutions are charged to the Statement of Financial Activilies when incurred and are invested SeParalY from the assets of the charity. Details of contributions made are shown in note 6 of the accounls. Historically, joining the scheme has been at the discretion of each employee. However, as of February 2016 Ihe organisation was legally obligaied under the Pension Act 2008 to auloTnatically enrol all employees who fulfil specified ¢riieria and who are not already enrolled in the pension .8cheme. The organi5aiion's staging date was l February 2016 bul this was wstponed until l May 2016. The scheme is now up and running dnd has been since thdi date. Page 16
Travol Community Transport (Limited by Guarnntee) Notes to the financial statements ror the year ended 31 March 2024 1.9. Financial instrnments The charity only has fmancial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their selllemeDI value. Trade deblors and other debtors are recognised at the seltlement arDount due and prepayments are valued at the amount prep&id. Creditors are recognised where the charity h&8 a present obligation resulting from a past event that wilI probably resuli in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are nomlY recognised at their seiilement atnount after allowing for anv trade discounts due. Operating profit 2024 2023 Operating profit 15 Stated after charuing: Depreciation and other amounts Written off intangible assets 41,241 43,866 and after crediting: Profit on disposal of tangible fixed assets 2,376 Income arising from grants Total Year to 31103124 Total Year to 31103123 Restrieted funds Welsh Government Eleclric Vehicle Grant 123,363 123,363 Unrestricted funds Rhondda Cynon TaflSEwfA operating grant Welsh Governmenl - Bus services support grant 43,91 37.603 43.593 35.580 81.514 79,173 Page 17
Travol Community Transport (Limited by Guarant¢¢l Notes to the financial slatements for the year ended 31 March 2024 4. Expendithre on charitable activities (all costs relate to the provision of tbe service) Total Year to 31 Marcb ?J T¢rtal Year to 31 LMJr¢h 23 Direct costs allocated to activities Vehicle depreciation Profitsnosses on disposal of tangible assets Fuel and oil Repairs and tnaintenance Vehicle hire Insurance Vehicle frlephones Volunteers, expenses Driver and escorts uniforn Staff Training Storage container hire Subscriptions - CTAIWCVA Vehicle parking Wages and saIleS (including social security) Auto enrolment D.C. pension costs Sundry vehicle costs 41,241 43,866 (2.376) 29,211 13,941 5,268 8.692 ,072 8,216 625 20,320 12,309 7,062 8,625 330 2,353 267 7.038 176 ?4? 1.624 2,346 267 7,016 168 ?73 1,300 716 277.903 288,433 Support costs allocated to activiti Wages and Salaries (including Sla1 security) Insurance Printing and stationery Office renl Property repairs and service charoes Welfare and cleaning Computer software Telephone and postage Pension cosis Audit fee Bank Charges Sundry expenses 17,823 863 196 10,166 16,903 297 708 805 440 15,267 861 128 10.114 16,754 633 723 752 301 2,81)0 360 46 258 46 51,505 48,739 Total Expenditure 329,408 337.172 Page 18
Travol Community Transport (Limited by Guarantee) Notes to Ihe financial statements for the year ended 3 l _[arch 2024 Net IncomingJ(Outgoing) Resources Year ¢0 Year to 31103124 31103123 This is slated after chargingJ{crediung)'. Depreciation Auditors Remuneration 41.241 3.000 43,866 2,800 Staff Year to Year to 31103124 31103123 Siaff costs during the y&qr comprised of the following". Waoes and salaries Social security costs Pension cost5 187.196 6,869 l74.460 9,080 ?,8?0 196,l29 186,360 *The Charity has established a 'defined contribufions. pension scheme with National Employment Savings Trust (NEST) in order to satisfy its obligation to 'aulo-enrol' employees into a pension scheme. Costs associated with this scheme are recognised in the month Ihat wage and salary payments are made. 2024 2024 2023 2023 Full Time Part Time Full Time Part Time Engaoed in provision of service Administrative Total number of employees No employee was paid £60,000 or mre during the year. (2023 ". nil) Total wages pakd to Key Management Personnel w&s £42,905 (LY.. £33.269). Travol Community Transport directly employs a number of drivers, but is also reliant on the support of volunteer escorts. who make no charge for their lime. The trusiees received no remuneration or benefits in connection with the perfornwice of their duties. There are no related party trdnsactions io be reported for the year. Page 19
Travol Community Transport ILimiied by GUantee) Notes to the financial statements for the year ended 31 [arch 2024 Tangible fixed assets Motor vehicles Tolal Cost At l April 2023 490.039 490.039 AL 31 March 2024 490,039 490,039 Depreciation At l April 2023 Charge for Ihe year 387,725 41,24l 387,725 41,241 At 31 March 2024 428,966 428.966 Net l)ook valuos At 31 March ?0?4 61.073 61,073 Ai 31 March ?0?3 10?.314 102,314 Debtors (owed <1 year) 2024 2023 Trade debtors Other debtors Prepayments and &ccrned income 5.314 1,848 13.6?1 23,990 2,288 14,113 20,783 40,391 P¥4ge 20
Travol Community Transport (Limitrd by Guarantee) Notes to the financial statements for the year ended 31 Nlarch 2024 Creditors: amounts falling due within one year 2024 2023 Trade creditor5 Accruals and deferred income 1.934 38.5?5 2,610 56,852 40.459 59.462 io. Provisions for liabilities and chargos Property Dilapidation Total At l April ?073 Charge for ihe year 16,700 1,200 16,700 1,200 At 31 March 2024 17,9(N) 17,900 Under the terms of a property lease Travol Community Transport has an obligation to tnake good any deterioration in, and to SLore the condition of, the area occupied by the Charity. Whilst no forn1 'schedule of condition, was prepared or undertaken at the lime the Charily took occupation of the premises, the Trustees believe thal i( is prudent 10 make provision for the potential cost of the reinstatement and decorative works required to brin8 the premises back to the condition the landlord is likely to require at expiry of the lease (see note 10). ii. Financial commitments At 31 March 2024 the company had commitments under non-cancellable operating leases as follows: 2024 2023 Expiry date: Between one and five years 4,250 12. Donations in kind Travol Community Transport direedy employ5 a number of drivers. but is also reliant on the 5UPPOrt of volunteer escorts. who make no charge for their time. Page 21
Travol Community Transport (Limited by Guardniee) Notes to the financial statements for the year ended 31 Mareb 2024 13. Analysis of Net Assets between Funds Unrestricted Restrictsd Total Tangible Fixed Assets Nei Current Assets 4.750 318,?99 56.323 9,808 61,073 328,107 323,049 66,131 389,180 14. Rostricted funds At Incoming Resources Outgoing Resources At 31103124 Welsh Government _ Inteurdted Care Fund Vehicle We15h GoverntneRf Electric Vehicle Grant 7.875 94,747 (7,875) (28,616) 66,131 Tolal Restricted funds 102.622 (36,491) 66,131 15. Share capi¢al The Charitable Company is limited by guarantee and therefore has no share capital. The extent of the guarantee is £1 per member. Page 22
The following page% are not part of the 5Eatutory fitwicial aecounls
Travol Community Transport Company limited by guarantee Statement of Financial Activitios for the year ended 31 Nlarch 2024 2024 2023 Income -Grants Rhondda Cynon TaflSEwfA operating grant We15h Govemmenl- Bus Services suppoll grant We15h Government Electric Vehicle Grant -other Donations received Income arising from Ihe provision of the service Bank Inrest 43,911 37,603 43,593 35,580 123,363 2,000 206,173 6,692 30 222,082 2,724 296,379 427,372 Expendithre -Direct costs Vehicle depreciation Fuel and oil Repatrs and maintenance Vehicle hire Insurance Vehicle telephones Volunteers, expenses Driver and escorts unifom)s Storage container hire Subscriptions - CT AIWCVA Vehicle parking Wages 2nd salaries (including social securiiy) Auto enrolment D.C. pension costs Sundry vehicle costs Staff Training Profitsnosses on disposal of iangible assets (41 ?41) (20.320) (12.309) 143,866) (29.211) (13,941) (5,268) (8.692) (1,072) (8.216) (625) (2,346) {267) (7,016) (168.273) (1.300) {716) (7,062) (8.625) (?,353) (267) (7.038) {176,?4?) (1.624) (492) (330) 2,376 (277,903) (288,4331
Travol Community Transport Company limited by guarantee Statement of Financial Activities for the year ended 31 March 2024 2024 2023 -support costs Wages and Salarie5 (including social security) Insurance Printing and stalionery Office rent Property repairs and service chartres (17,823) (863) (196) 110.166) {16.903) (297) 115,2671 (8611 (128) (10.1141 116.754) (633) Fl t Wellare and cleaning Computer software Telephone and postage Pension costs Audil fee Bank Charges Sundry expenses {708) {805) (4401 (3.0(K)) (258) (46) (7?3) (752) {301) (2,800) (360) (46) (51,505) (48,739) Net Incomel(Expenditure) for the year (33.029) 90.?00