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TraVol Community Transport (Limited by Guarantee)
Annual Report and Financial Statements for the period ended 30 June 2025
Companies House Registered Number: 04573868
Registered Charity Number: 1096235
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TraVol Community Transport (Limited by Guarantee)
Annual Report and Financial Statements for the year ended 30th June 2025
Contents
| Pages | ||
|---|---|---|
| Trustees, advisers and principal grants received | 1 | |
| Trustees’ Report | , | 2-6 |
| Auditors’Report | 7-9 | |
| Statement ofFinancial Activities | 10 | |
| Balance Sheet | 11 | |
| CashFlow Statement | 12 | |
| NotestotheFinancialStatements | 13-22 |
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TraVol Community Transport (Limited by Guarantee)
Trustees, advisers and principal grants received
Registered Charity No 1096235
Trustees (who act as Directors for the purposes of company law)
The Trustees during the year, together with changes to the date of approval of the financial statements were:-
M. D. Coundley (Chairman) C. Paull (Treasurer) R. Davies
Website https://travol.co.uk/
Principal & Registered Office Unit 8 Maritime Offices Woodland Terrace Maesycoed CF37 1DZ
Independent Auditors R.H. Jeffs & Rowe Chartered Accountants 27/28 Gelliwasted Road Pontypridd CF37 2BW
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Principal Bankers Lloyds Bank ple Market Street Pontypridd Rhondda Cynon Taf CF37 2TF Solicitors Spicketts Solicitors Gelliwastad House 3-4 Gelliwastad Road Pontypridd CF37 2AU
Principal grants received Welsh Government Rhondda Cynon Taf County Borough Council
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2
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TraVol Community Transport
(Limited by Guarantee)
Trustees' report
for the period ended 30 June 2025
Trustees' report
The Trustees' (as listed on previous page) present their report along with the audited financial statement of TraVol Community Transport ("the Charity") for the period ended 30th June 2025.
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 to the financial statements and comply with the Charity's trust deed and applicable law. The financial statements have been prepared in accordance with the Statement of Recommended Practice Accounting and Reporting by Charities 2019 (SORP 2019), Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland (FRS 102), the Companies Act 2006 and the Charities Act 2011, using consistently applied accounting policies.
Incorporation and transfer of net assets
TraVol Community Transport was incorporated on 25 October 2002 and commenced trading on | April 2003. In March 2003, the Trustees of a Registered Charity, the Volunteers’ Support Group (Charity Commission Number 702530) agreed to transfer the net assets of that Charity to the Directors of TraVol Community Transport to hold in trust and to continue the work of the Volunteers’ Support 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 transport service and are undertaken to further our charitable purposes for public benefit.
The principal objective of the Charity is to provide a community transport service for the inhabitants of Rhondda Cynon Taf 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 the lack of availability of adequate or safe public passenger services. Our aim is to provide equal opportunity to all of our clients through enabling equal access to employment, health, education, leisure and social activities.
Although the primary objective of the Charity remains unchanged, the lack of grant funding from historic sources has caused the Charity to increasingly rely on income derived from contracted services to Rhondda Cynon Taf County Borough Council (RCTCBC). As the majority of contracted journeys relate to ‘home to school transport’ for disabled children, this has limited service availability for other clients during peak school run hours.
During the year ended 31 March 2025 the total number of client journeys undertaken decreased by 3.4% (2024; 8.1% decrease) in comparison to the previous year (2025; 28,882: 2024 29,902). A total of 34,534 client journeys were undertaken between 1 April 2024 and 20 June 2025 (the date when the Charity ceased its operational activities).
The Charity is a member of the Community Transport Association (Registered Charity number 1002222). This is | an umbrella organisation which provides general support and advice to its members.
TraVol Community Transport
(Limited by Guarantee)
Trustees’ report for the period ended 30 June 2025
Constitution
TraVol Community Transport is a company limited by guarantee and, accordingly, the governing document is the Company's Memorandum and Articles of Association. The liability of each Trustee, in the event that they are called upon to contribute, is limited to £1.
Organisational structure and appointment of directors
The Charity is administered by a Management Committee, which is composed of the Directors of the Company. The Management Committee has the power to admit to membership any individual or entity which supports the charitable objectives.
New Management Committee members are elected individually at the Annual General meeting from individual members of the Company or from persons nominated by organisations which are members. The Management Committee may also co-opt up to two other persons, whether or not members of the Company, to serve as Committee Members.
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Trustee Directors induction and training
Newly appointed Trustees undergo an induction and familiarisation day to brief them on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee structure and decision making processes. During the induction day, Trustees are introduced to key personnel and are provided with brief details of each employee's duties. Trustees are encouraged to attend appropriate external training sessions.
Public benefit
The Trustees confirm that they have complied with the duty in the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission. The significant activities undertaken to carry out the Charity's aims for the public benefit and our achievements measured against those aims are provided on page 2.
Investment powers and policy
Under the terms of the Memorandum and Articles of Association, the Trustees have general powers of investment, subject to the provisions of the general law.
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TraVol Community Transport
(Limited by Guarantee)
Trustees' report for the period ended 30 June 2025
Financial results and future activities
During the period under review RCTCBC / SEWTA provided grant funding to enable the Charity to operate the service and the Charity also received a capped fare for those clients using their Concessionary Fares bus pass. The mileage related income for the year to 31 March 2025 decreased by 5.7% to £194,467 (2024: £206,173). Further mileage related income of £41,270 was received in respect of the period 1 April 2025 to 20 June 2025, giving total mileage related income of £235,737 for the extended accounting period.
The financial results for the extended accounting reference period show net outgoing resources on restricted funds of £56,323 (2024 (12 months): £36,491). This represents the difference between the capital grants received to purchase new vehicles and the depreciation charge on these and other grant-sponsored vehicles purchased in prior years. In general, where the Charity has received a restricted grant, the grant only part funds the total project cost, leaving the Charity to fund the balance of expenditure from unrestricted funds. During the period under review the general fund generated a deficit of £115,048 (2024 (12 months): £3,462 surplus), which resulted in the Charity having "free" unrestricted funds of £208,001 at 30 June 2025 (31 March 2024: £319,587). The deficit for the period includes redundancy and other employment termination costs totalling £118,378.
In the autumn of 2024 the Trustee Director's discussed the issue of the Charity's continued failure to recruit new directors to the Trustee Board. Over the past decade or so the Trustee Board has slowly dwindled and there are now only three remaining serving directors, all now aged in their 70's and 80's. It was recognised that this situation presented a significant risk to the Charity, and the Director's reluctantly reached the conclusion that it would be better to wind-up the Charity on a solvent basis, whilst there were still serving Director's available to actively manage the Charity's closure and to seek a suitable legatee Charity for its’ residual assets, who would perhaps continue providing the local community transportation services. After due discussions with service users and other interested parties the Director's reached the conclusion that Accessible Caring Transport (ACT) (Charity Registration 1072933) is the most suitable candidate organisation to continue delivering the previous objectives of Travol and (subject of the approval of the Charity Commission) they agreed that any residual cash, vehicles and other assets should be transferred to that organisation at the conclusion of the wind-up process.
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Volunteer drivers and escorts
In addition to the drivers and passenger assistants employed directly by the Charity, the Charity has also been heavily reliant on its team of volunteer passenger assistants. As all drivers are required to possess a current PCV Licence, no volunteers were available to act in this capacity. Regrettably, several long serving volunteers were lost during the Covid-19 pandemic and the Charity has over recent years encountered severe difficulty in retaining and/or recruiting the number of volunteers needed.
The Trustees wish to formally record their thanks to those volunteers who provided their services during the period, without whom the Charity would not have been able to assist so many clients.
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(Limited by Guarantee)
:
TraVol Community Transport
Trustees' report
for the period ended 30 June 2025
Risk management
The Trustees periodically review the major risks to which the Charity is exposed, in particular those related to its operations and finances, and are satisfied that systems are in place to mitigate exposure to major risks.
Reserves Policy
The Trustees have historically relied on the principal sponsors to provide project funding to assist in meeting the costs of providing the service. Up until cessation of operations on 20 June 2025 the Charity employed a number of staff directly, with the annualised wage cost (as at 1 June 2025) being approximately £205,000. In addition, and dependent on the number of new vehicles purchased with specific funding, the Trustees would have expected to replace at least one of the specially adapted minibuses, at a cost of up to £90,000, each year. Consequently, the Trustees had previously considered that, ideally, the minimum unrestricted reserves with which the Charity should operate to be £450,000. This amount has historically been reviewed annually after taking into consideration the level of the Charity's activities.
As at 30 June 2025, and after incurring redundancy/severance costs of £118,378 the Charity's unrestricted reserves were £208,001 (March 2024: £323,049), falling short of the desired minimum.
Cessation of Activities
On 24 June 2025 the Trustee Director's resolved to immediately cease operations of Travol Community Transport and (subject to the eventual approval of the Charity Commission) to transfer all charitable activities and assets to Accessible Caring Transport (ACT) (Charity Registration Number 1072933), a charity with similar objectives. The principal reason for cessation was to secure the medium to long-term continuation of community transport services in the local area.
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The transfer is intended to include the Charity's vehicles, bank balances and all other assets. Control of two electrically powered vehicles together with E.V. charging facilities was released to ACT on 24 June in accordance with the grant conditions set by Welsh Government. The other remaining vehicles were also transferred on that date. Bank balances have been retained in Travol's name pending receipt of formal approval is obtained from the Charity Commission for the transfer and for the removal of Travol Community Transport from the Register of Charities.
The Trustee Director's confirm that the Charity ceased substantive activities on 24 June 2025. Subsequent to that date, the Charity has not carried out further charitable activities other than to carry out administrative activities necessary to progress the winding-up of the Charitable Company.
Independent Auditors
So far as the Trustees are aware, there is no relevant audit information (that is, information needed by the Charity's auditors in connection with preparing their report) of which the Charity's auditors are unaware, and the Trustees have taken all steps that they ought to have taken in order to make themselves aware of any relevant information and to ensure that the Charity's auditors are aware of that information.
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TraVol Community Transport
(Limited by Guarantee)
Trustees’ report for the period ended 30 June 2025
R H Jeffs & Rowe were appointed as auditors to the Charity in October 2021.
Small companies exemption
In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006 in relation to the exclusion of the preparation of a Strategic Report.
Statement of Trustees' Responsibilities
The trustees’ are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
The law applicable to charities in England & Wales requires the trustees’ to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The trustees' must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity 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:
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select suitable accounting policies and then apply them consistently;
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- observe the methods and principles in the Charities SORP; - make judgments and accounting estimates 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
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue to operate. The trustees’ are responsible for keeping sufficient accounting records that 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 Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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.
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In so far as the trustees' are aware: - there is no relevant audit information of which the charity's auditor is unaware; and - the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.
The trustees' are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
This report was approved by the Board of Trustees on 30 October 2025 and was signed on its behalf by:
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Ccblade
Trustee and Treasurer
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Company limited by guarantee
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Unqualified Audit Report Independent auditors’ report to the members of TraVol Community Transport
a Opinion
We have audited the financial statements of TraVol Community Transport (the ‘charitable company’) for the period ended 30 June 2025 which comprise the Statement of Financial Activities, Balance Sheet, Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK (United Kingdom Generally Accepted Accounting Practice).
Emphasis of Matter - Cessation of Activities
We draw attention to Note XX of the financial statements, which explains that the Trustees have prepared the accounts on a cessation basis following the decision to cease operations on 24 June 2025 and transfer the charity's activities to ACT Transport, a registered charity with similar objects. Our opinion is not modified in respect of this matter.
- give a true and fair view of the state of the charitable company's affairs as at 30 June 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended, - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006.
a Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities 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 company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
a Conclusions relating to going concern and cessation of activities
The trustees have prepared the financial statements on a cessation basis as the charity resolved to cease operations on 24 June 2025 and transfer its assets to ACT Transport. Appropriate disclosure of this decision, and its impact on the preparation of the accounts, is made in the notes to the financial statements. We agree with the trustees' assessment that the going concern basis is no longer appropriate, and the use of a cessation basis of accounting is appropriate in these circumstances.
Other information
The trustees are responsible for the other information. The other information comprises the information 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 information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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Unqualified Audit Report
Independent auditors’ report to the members of TraVol Community Transport Company limited by guarantee a Opinions on other matters prescribed by the Companies Act 2006
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In our opinion, based on the work undertaken in the course of the audit:
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the information 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 consistent with the financial statements, and
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- the directors’ report included within the trustees’ report has been prepared in accordance with applicable legal requirements.
a Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
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the charity has not kept adequate accounting records, or returns adequate for our audit have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns, or
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certain disclosures of trustees' remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit.
a Responsibilities of trustees As explained more fully in the trustees’ responsibilities statement the trustees (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 that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. i
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to 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 misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
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 Charities Act 2011, Charities Statement of Recommended Practice, UK tax legislation, pensions legislation, employment regulation and health and safety regulation, anti-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 2006.
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We evaluated the Trustees’ and management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to manipulation of financial performance, management bias through judgements and assumptions in significant accounting estimates, in particular in relation to use of restricted funds, and significant one-off or unusual transactions.
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Unqualified Audit Report Independent auditors’ report to the members of TraVol Community Transport
Company limited by guarantee
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Our audit procedures were designed to respond to those identified risks, including non-compliance with laws and regulations (irregularities) and fraud that are material to the financial statements. Our audit procedures included but were not limited to: - discussing with the Trustees' and management their policies and procedures regarding compliance with laws and regulations;
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communicating identified laws and regulations throughout our engagement team and remaining alert to any indications of non-compliance throughout our audit; and
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considering the risk of acts by the Charity which were contrary to applicable laws and regulations, including fraud.
Our audit procedures in relation to fraud included but were not limited to:
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making enquiries of the Trustees' and management on whether they had knowledge of any actual, suspected or alleged fraud;
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gaining an understanding of the internal controls established to mitigate risks related to fraud,
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discussing amongst the engagement team the risks of fraud; and
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- addressing the risks of fraud through management override of controls by performing journal entry testing.
There are inherent limitations in the audit procedures described above and the primary responsibility for the prevention and detection of irregularities including fraud rests with management. As with any audit, there remained a risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal controls.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.
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a ()
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Robert Thomas FCA
Senior Statutory Auditor for and on behalf of R.H. Jeffs & Rowe, Statutory Auditors & Chartered Accountants 27/28 Gelliwasted Road
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Pontypridd CF37 2BW
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TraVol Community Transport
(Limited by Guarantee)
Statement of Financial Activities
for the period ended 30 June 2025
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||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|Unrestricted|Restricted|Funds|at|Funds|at|
|Funds|Funds|=|30/06/25|31/03/24|
|£|£|£|£|
|Income|&|endowments|from:|
|Charitable|activities:-|
|Income|arising|from|the|provision|of|the|235,737|-|235,737|206,173|
|service|
|Generated|funds:|
|Income|arising from|grants|3|72,947|(20,553)|$2,394|81,514|
|Donations|received|-|-|-|2,000|
|Investment|income|and|interest|8,468|-|8,468|6,692|
|Total|Income &|endowments|317,152|20,553|296,599|296,379|
|Expenditure|on:|
|Charitable|Activities|4|432,200|35,770|467,970|329,408|
|Total Expenditure|432,200|35,770|467,970|329,408|
|Movement|in|total|funds|for|the|year:|
|Net Income/(Expenditure)|5|(115,048)|(56,323)|(171,371)|(33,029)|
|Net Income|after|transfers|(115,048)|(56,323)|(171,371)|(33,029)|
|Fund|Balances|brought forward|323,049|66,131|389,180|422,209|
|Fund Balances|carried|forward|208,001|9,808|217,809|389,180|
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The net outgoing resources arise wholly from continuing operations. The Statement of Financial Activities includes all gains and losses for the year. There is no material difference between the net outgoing resources for the above financial years and their historical cost equivalents.
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TraVol Community Transport
(Limited by Guarantee)
| Companynumber04573868 | Companynumber04573868 | Companynumber04573868 | |||
|---|---|---|---|---|---|
| Balance Sheet | |||||
| as at30 June 2025 | |||||
| 2025 | 2024 | ||||
| Notes | £ | £ | £ | £ | |
| Fixed Assets | |||||
| Tangible assets | 7 | - | 61,073 | ||
| Current Assets | |||||
| Debtors | 8 | 17,271 | 20,783 | ||
| Cash atbank and in hand | 200,877 | 365,683 | |||
| Total CurrentAssets | 218,148 | 386,466 | |||
| Creditors: amounts falling | |||||
| duewithin oneyear | 9 | (340) | (40,459) | ||
| NetCurrent Assets | 217,808 | 346,007 | |||
| Total Assets Less Current | |||||
| Liabilities | 217,808 | 407,080 | |||
| Provisions for Liabilities | |||||
| and Charges | 10 | - | (17,900) | ||
| NetAssets | 217,808 | 389,180 | |||
| Thefundsofthe Charity | |||||
| Unrestricted Funds | 13 | 208,001 | 323,049 | ||
| RestrictedFunds | 13 | 9,808 | 66,131 | ||
| 217,809 | 389,180 |
Under Companies Act 2006, S454, on a voluntary basis, the trustees can amend these financial statements if they subsequently prove to be defective.
The financial statements were approved by the Trustee Board on 30 October 2025 and signed on its behalf by
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C Paull i ° Me .
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TraVol Community Transport (Limited by Guarantee)
Cash Flow Statement for the period ended 30 June 2025
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||||||||
|---|---|---|---|---|---|---|
|period|year|
|ended|ended|
|30/06/25|31/03/24|
|Notes|£|£|
|Cash|flows|from|operating|activities|
|Net Movement|in|funds|(150,818)|90,200|
|Depreciation|40,520|41,241|
|Decrease|in|debtors|3,512|19,608|
|Increase/(Decrease)|in|creditors|(40,119)|(19,003)|
|Deduct|interest income|(8,468)|(6,692)|
|Increase|in|provision|for long-term|liabilities|-|1,200|
|Net cash|outflow from|operating|activities|(155,373)|126,554|
|Net cash|outflow|from|operating|activities|(155,373)|126,554|
|(155,373)|126,554|
|Cash|flows|from|investing|activities|
|Interest from Investments|8,468|6,692|
|Increase/(Decrease)|in cash|in the period|(146,905)|133,246|
|Cash &|Cash|equivalents at start of the year|365,683|337,761|
|Cash &|Cash|equivalents|at end of the year|200,878|365,683|
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Notes to the financial statements for the period ended 30 June 2025
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TraVol Community Transport
(Limited by Guarantee)
Statutory Information
TraVol Community Transport is a Charitable Company limited by guarantee incorporated in England and Wales and domiciled the United Kingdom. The registered office is Unit 8 Maritime Offices, Woodland Terrace, Maesycoed, Pontypridd, CF37 1DZ. The nature of the charity's operations and principal activities is disclosed within the Trustees Report.
The financial statements are presented in Sterling (£), the charity's functional currency, and rounded to the nearest pound.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
1 Accounting Policies
1.1. Basis of preparation and assessment of going concern
The accounts (financial statements) have been prepared uner the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard, applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
The financial statements have been prepared on a cessation basis rather than the going concern basis. The directors have resolved to cease trading, and the company is in the process of being wound down. Accordingly, assets and liabilities have been stated at their recoverable and settlement amounts, respectively.
Under the cessation basis, assets are valued at the amount expected to be realised in the short term, and liabilities are stated at the amounts expected to be settled, including any additional costs arising from the cessation of trade.
The trustees confirm that as far as they are aware, there is no relevant audit information of which the charitable company's auditors are unaware; and that they have taken all the steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
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TraVol Community Transport (Limited by Guarantee)
Notes to the financial statements for the period ended 30 June 2025
- 1.2. Income & Endowments
All incoming resources are included in the Statement of Financial Activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
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a. Voluntary income is received by way of donations, gifts and unconditional grants and are included in full in the Statement of Financial Activities when receivable.
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b. Income for charitable services including agency work that is received by way of grants, donations and contracts. Where income is dependent upon performance and specific deliverables, income is included in the Statement of Financial Activities as the charity earns the right to consideration by its performance.
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c. Where relevant, donated services and assets are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these accounts.
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d. Investment income is included when receivable.
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e. Government grant income is included for the periods for which it has been awarded. If there is no specific period for which it has been awarded then it is included when received.
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1.3. Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. Expenditure includes any VAT which cannot be fully recovered.
Charitable expenditure comprises those costs incurred by the charity 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 of an indirect nature necessary to support them.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity.
All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis.
Page 14
Notes to the financial statements for the period ended 30 June 2025
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TraVol Community Transport (Limited by Guarantee)
1.4. Tangible fixed assets and depreciation
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Vehicles
-
25% Straight line basis per annum.
-
1.5. Fund Accounting
The unrestricted funds of the charity comprise those monies which are available to be used towards the meeting of the charitable objectives of the charity at the discretion of the Management Committee.
The restricted funds are monies raised or received for a specific purpose and accounted for in accordance with the donors imposed conditions.
1.6. Taxation
TraVol Community Transport is a registered charity, and as such, is entitled to certain exemptions on income and profits from investments and surplus on any trading activities carried on in furtherance of the Charity's primary objectives, if these profits and surpluses are applied solely for charitable purposes. Irrecoverable Value Added Tax is charged to the relevant expenditure heading to which the net cost is associated.
1.7. Debtors & Creditors
Trade debtors and other debtors are recognised at the settlement amount due after any trade discounts offered. Prepayments are valued at the amount prepaid net of any discounts due.
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result 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 normally recognised at their settlement amount after allowing for any trade discounts due.
1.8. Pensions
The organisation operates a defined contribution scheme for its employees. Contributions are charged to the Statement of Financial Activities when incurred and are invested separately from the assets of the charity. Details of contributions made are shown in note 6 of the accounts.
Page 15
TraVol Community Transport (Limited by Guarantee)
Notes to the financial statements for the period ended 30 June 2025
|
, |
1.9, Financial instruments
The charity only has financial 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 settlement value.
Trade debtors and other debtors are recognised at the settlement amount due and prepayments are valued at the amount prepaid.
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result 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 normally recognised at their settlement amount after allowing for any trade discounts due.
| period | year | ||
|---|---|---|---|
| ended | ended | ||
| 2. | Operating (loss)/profit | 30/06/25 | 31/03/24 |
| £ | £ | ||
| Operating (loss)/profit is stated after charging: | |||
| Depreciation and otheramounts written off intangible assets | 40,520 | 41,241 | |
| and after crediting: | |||
| Profit on disposal oftangible fixed assets | 2,306 | - | |
| 3. | Incomearisingfromgrants | Total | Total |
| Year to | Year to | ||
| 31/03/25 | 31/03/24 | ||
| £ | £ | ||
| Restricted funds | |||
| Welsh Government Electric Vehicle Grant | (20,553) | “ | |
| (20,553) | - | ||
| Unrestricted funds | |||
| RhonddaCynonTaf/SEWTA operating grant | 53,166 | 43,911 | |
| Welsh Government -Bus services supportgrant | 19,781 | 37,603 | |
| 72,947 | 81,514 |
Page 16
/
| : :
TraVol Community Transport
(Limited by Guarantee)
Notes to the financial statements for the period ended 30 June 2025
4. Expenditure on charitable activities (all costs relate to the provision of the service)
| Total | Year to | Total | Year to | |
|---|---|---|---|---|
| 31 March 25 | 31 March 24 | |||
| Directcostsallocated to activities | £ | £ | ||
| Vehicle depreciation | 40,520 | 41,241 | ||
| Profits/losses on disposal oftangible assets | (2,306) | - | ||
| Fuel and oil | 20,164 | 20,320 | ||
| Repairs and maintenance | 10,475 | 12,309 | ||
| Vehicle hire | - | - | ||
| Insurance | 10,959 | 7,062 | ||
| Volunteers’ expenses | 9,649 | 8,625 | ||
| Driver and escorts uniforms | 490 | - | ||
| StaffTraining | 1,375 | 330 | ||
| Storage container hire | 2,488 | 2,353 | ||
| Subscriptions -CTA/WCVA |
215 | 267 | ||
| Vehicle parking | 9,061 | 7,038 | ||
| Wages and salaries (including social security) | 303,430 | 176,242 | ||
| Auto enrolment D.C. pension costs | 2,913 | 1,624 | ||
| Sundry vehicle costs | 425 | 492 | ||
| 409,858 | 277,903 | |||
| Support costs allocated to activities | ||||
| Wages and Salaries (including social security) | 46,283 | 17,823 | ||
| Insurance | 1,129 | 863 | ||
| Printing and stationery | 146 | 196 | ||
| Office rent | 12,482 | 10,166 | ||
| Property repairs and service charges | (8,486) | 16,903 | ||
| Welfare and cleaning | 583 | 297 | ||
| Computer software | 725 | 708 | ||
| Telephone and postage | 945 | 805 | ||
| Pension costs | 662 | 440 | ||
| Audit fee | 3,075 | 3,000 | ||
| Bank Charges | 362 | 258 | ||
| Sundryexpenses | 207 | 46 | ||
| 58,113 | 51,505 | |||
| TotalExpenditure | 467,971 | 329,408 |
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TraVol Community Transport (Limited by Guarantee)
Notes to the financial statements for the period ended 30 June 2025
5. Net Incoming/(Outgoing) Resources
==> picture [465 x 217] intentionally omitted <==
----- Start of picture text -----
|||||||
|---|---|---|---|---|---|
|Yearto|Year|to|
|31/03/25|31/03/24|
|This|is|stated|after charging/(crediting):|£|£|
|Depreciation|40,520|41,241|
|Auditors|Remuneration|3,075|3,000|
|6.|Staff|Periodto|Year to|
|31/03/25|31/03/24|
|£|£|
|Staff costs|during|the|period|comprised of the|following:|
|Wages and|salaries|340,642|187,196|
|Social|security costs|9,071|6,869|
|Pension|costs*|3,575|2,064|
|353,288|196,129|
----- End of picture text -----
*The Charity has established a ‘defined contributions' pension scheme with National Employment Savings Trust (NEST) in order to satisfy its obligation to ‘auto-enrol’ employees into a pension scheme. Costs associated with this scheme are recognised in the month that wage and salary payments are made.
==> picture [438 x 88] intentionally omitted <==
----- Start of picture text -----
|||||||||
|---|---|---|---|---|---|---|---|
|2024|2024|2024|2024|
|Full|Time|Part|Time|Full|Time|Part|Time|
|Engaged|in|provision|of service|5|2|6|3|
|Administrative|1|-|1|
|Total|number|of employees|6|2|7|3|
----- End of picture text -----
No employee was paid £60,000 or more during the period. (2024 : nil)
Total wages paid to Key Management Personnel was £75,997 (LY: £42,905).
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 time.
The trustees received no remuneration or benefits in connection with the performance of their duties.
There are no related party transactions to be reported for the year.
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TraVol Community Transport (Limited by Guarantee)
Notes to the financial statements for the period ended 30 June 2025
| 7. | Tangible fixed assets | ||
|---|---|---|---|
| Motor | |||
| vehicles | Total | ||
| £ | £ | ||
| Cost | |||
| At t April2024 | 490,039 | 490,039 | |
| Disposals atcost | (490,039) | (490,039) | |
| At 30 June 2025 | - | - | |
| Depreciation | |||
| At 1 April 2024 | 428,966 | 428,966 | |
| Charge forthe period | 40,520 | 40,520 | |
| Disposals | (469,486) | (469,486) | |
| At 30 June 2025 | - | - | |
| Net book values | |||
| At 30 June 2025 | - | . | |
| At 31 March 2024 | 61,073 | 61,073 | |
| 8. | Debtors (owed <1 year) | 2025 | 2024 |
| £ | £ | ||
| Trade debtors | - | 5,314 | |
| Other debtors | 1,683 | 1,848 | |
| Prepayments and accrued income | 15,588 | 13,621 | |
| 17,271 | 20,783 |
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TraVol Community Transport
(Limited by Guarantee)
Notes to the financial statements for the period ended 30 June 2025
==> picture [439 x 91] intentionally omitted <==
----- Start of picture text -----
|||||||
|---|---|---|---|---|---|
|9.|Creditors:|amounts falling|due|2025|2024|
|within one|year|£|£|
|Trade|creditors|294|1,934|
|Accruals|and|deferred|income|46|38,525|
|340|40,459|
----- End of picture text -----
10. _— Provisions for liabilities and charges
==> picture [421 x 205] intentionally omitted <==
----- Start of picture text -----
||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Property|
|Dilapidation|Total|
|£|£|
|At|1|April|2024|17,900|17,900|
|Utilised|in|the|year|17,900|17,900|
|At|30|June|2025|-|-|
|Under|the|terms|of|a|property|lease|TraVol|Community|Transport|had|an|obligation|to|make|good|any|
|deterioration|in,|and|to|restore|the|condition|of,|the|area|occupied|by|the|Charity.|Whilst|no|formal|
|‘schedule|of|condition’|was|prepared|or|undertaken|at|the|time|the|Charity|took|occupation|of|the|
|premises,|the|Trustees|believed|that|it|was|prudent|to|make|provision|for|the|potential|cost|of|the|
|reinstatement|and decorative|works|required|to bring|the|premises back|to|the|condition the|landlord|was|
|likely|to|insist|upon|at|expiry|of the|lease.|
----- End of picture text -----
However, this provision ultimately proved to be unnecessary upon surrender of the lease, following re-decorative works carried out by Travol employees. The landlord's position was also weakened following repeated water damage incidents caused by the landlord's failure to properly repair/maintain the condition of the roof.
11. Donations in kind
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 time.
Page 20
TraVol Community Transport (Limited by Guarantee)
Notes to the financial statements for the period ended 30 June 2025
12. Analysis of Net Assets between Funds
| Unrestricted | Restricted | Total | ||
|---|---|---|---|---|
| £ | £ | £ | ||
| Net Current Assets | 208,001 | 9,808 | 217,809 | |
| 208,001 | 9,808 | 217,809 | ||
| Restricted funds | ||||
| At | Incoming | Outgoing | At | |
| 01/04/24 | Resources | Resources | 31/03/25 | |
| £ | £ | £ | £ | |
| Welsh Government Electric Vehicle Grant | 66,131 | (20,553) | (35,770) | 9,808 |
| TotalRestrictedfunds | 66,131 | (20,553) | (35,770) | 9,808 |
13. Restricted funds
14, Share capital
The Charitable Company is limited by guarantee and therefore has no share capital. The extent of the guarantee is £1 per member.
:
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TraVol Community Transport Company limited by guarantee
Statement of Financial Activities for the period ended 30 June 2025
| 2025 | 2024 | |||
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Income | ||||
| -Grants | ||||
| Rhondda CynonTaf/SEWTA operating grant WelshGovernment -Bus services supportgrant |
53,166 19,781 |
43,911 37,603 |
||
| Welsh Government Electric Vehicle Grant | (20,553) | - | ||
| -Other | ||||
| Donations received | - | 2,000 | ||
| Income arising fromtheprovision ofthe service | 235,737 | 206,173 | ||
| Bank Interest | 8,468 | 6,692 | ||
| 296,599 | 296,379 | |||
| Expenditure | ||||
| -Direct costs | ||||
| Vehicledepreciation | (40,520) | (41,241) | ||
| Fuel and oil | (20,164) | (20,320) | ||
| Repairsandmaintenance | (10,475) | (12,309) | ||
| Insurance | (10,959) | (7,062) | ||
| Volunteers’expenses | (9,649) | (8,625) | ||
| Driver and escorts uniforms | (490) | - | ||
| Storage containerhire | (2,488) | (2,353) | ||
| Subscriptions -CTA/WCVA |
(215) | (267) | ||
| Vehicle parking | (9,061) | (7,038) | ||
| Wages and salaries (including social security) | (303,430) | (176,242) | ||
| Autoenrolment D.C. pension costs Sundryvehicle costs StaffTraining |
(2,913) (425) (1,375) |
(1,624) (492) (330) |
||
| Profits/losses on disposal oftangible assets | 2,306 | - | ||
| (409,858) | (277,903) |
.
TraVol Community Transport Company limited by guarantee
Statement of Financial Activities for the period ended 30 June 2025
==> picture [486 x 268] intentionally omitted <==
----- Start of picture text -----
|||||||||
|---|---|---|---|---|---|---|---|
|2025|2024|
|£|£|£|£|
|-Support|costs|
|Wages|and|Salaries|(including|social|security)|(46,283)|(17,823)|
|Insurance|(1,129)|(863)|
|Printing|and|stationery|(146)|(196)|
|Office|rent|(12,482)|(10,166)|
|Property|repairs|and|service|charges|8,486|(16,903)|
|Welfare|and cleaning|(583)|(297)|
|Computer software|(725)|(708)|
|Telephone|and postage|(945)|(805)|
|Pension|costs|(662)|(440)|
|Audit|fee|(3,075)|(3,000)|
|Bank Charges|(362)|(258)|
|Sundry expenses|(204)|(46)|
|(58,110)|(51,505)|
|Net Income/(Expenditure)|for|the year|(171,369)|(33,029)|
----- End of picture text -----