REGISTERED COMPANY NUMBER: 040B7762 (Endab and Wale51 REGISTERED CHARITY NUMBER: 1097347 REPORT OF ThETRUSTEES AND UNAUDITED FINANCIAL5TATEMENT5 FOR THEYEAR ENDED 31 DECEMBER Z022 FOR 15LE OF WIGHT bus a COAcTrI MUSEUM tIMITf D Bright Brown Llmited Charteiefl Accguntants Exchange House SL Cross Lane Newport 151e of Wight P030 5BZ
15LE OF WIGHT BUS & COACH MUSEUM LIMITED C014TEPITS OF THE HNANaALSTATEMÈNY5 FOR THE YEPAi ENDeD 31 DECEMBER 2022 Rèport ofthfrTrustees Independent Examlnees RepDrt Statement of Flnancl31 Artlvltle5 lance Sheèt Note5 to thp Finandal Statemènts 9 to 16 Detalled Sts*ement ol Flnancial A¢tfvbtlEs 17 to 18
ISLE OF WIGIIT BUS & COACH MUSEUM LIMITED IREG15TERED NUMBER: 1140877621 REPORT OFTHE TRUS¥EE5 FOR THEYEAR ENDeD 31 DECEMBER 2021 The trusteès who arè also dlrecttrrs of the charity fot the purposes of ihÈ Companies Act 2006, wesent their report with the financial statempnts Df the charity for the year ended 31 December 2022. The tru5tee5 have adopted the provlsion5 of Accounting and RepDrting by Charities.. Stalernent of Recommended Prattlce 3ppllcable to charlties preparing their accounts in accordance with the Financial R2portin8 Standard applicable in the UK and Republic of Ireland IFRS 1021 leffectlve l January 20191. 08JecnvES Af4DAcnviTIES ObiEctl¥es ol the ¢harStable company To advance publlc educatlon by estsbli5hing o permanent dlsplay Df h15toric commÈrcTral and publlc tarrlagè h[cléS at a museum on the Isle of Wight. Whi15t some of these vehicles act as static exhlblts only. other5 are road legal and are regularly employed to tafiy passengers on special event days. Additionally for like purpose to promote a permanenl prèsèrvation of all acquifèil historlc commercial and publiE tarriège vehitles and their related equipment, includ4llB Items of general tcan5POrt interest, especiallv where potential historic or scientific importance and educative values are involved. Ae¥lew of the de¥elopment and a¢hle¥ement of the charltsble company After two years dominated by re5triclions dve to Covid we are pleased to report that we have had a much better trading year than the last tWD. We ran our usual Spring event Rydabus and much of the work frorn the cancelled 2020 event wa5 carried over. We feel Beer and Buses event has been a victim of its own success so we introduced a new event in Autumn called Wightrider. The new format proved very popularwith all and provided 3 good finantlal retuin. We were opèn as usual pre Covld years Irom Easter vnts"I the end of Oclober. We were also able to run a number of free bus services on some Sunday5 around the local Ryde area to promote the Museum. We were pleased with the revenue from this opening. The Musèum shbp 19 how beifi# &totkÈd alMts8t èfitlfew from don*iènl artd thll l& addlrtg to ptèfftablllty". and thè etenSIV@ range of items is provbng popular with visitors. We have had continued 5UPPOrt from RydE Town Council during the year with 8rants to help with Fiublldty. Ourlng the year we had a revenue grants totalling £1,000 from the Southern Co Op . The Southern Co Op grant of £400 for carbon netstral projects 3nd will be spent p13nting Dur borders. A sutce5slul bid to the Royal Pavilion and Museum Trust for a total of £3,000 has bee ¥Jent improving our Committee and Children's area. In memory of our late Chairman thss area has been called the 8111 Adtroyd Room. A further £1.200 from Royal Pavillon and Mu5evm Trust wlll bè spent Dn 5peciallst advise on the managemert of the Museum. We a150 reiVed a fiTral Govemment grant of £4,000 to compensate for our forced c105ure and effects of Covld ie5tfiction5. The Trustees are keen to become an accredited mvseum. To thls ènd a grant was tsblained from the South East Museum development Progiamme towèr(ts the tost of an audit of our tollection. There was Storrn damage to the roof ol the Museum but the cfjnsiderdble c05t wa5 f(thnately covered by in5ufdnce. Work continued on the major re5tor8tions of our Daimler CK and Bristol K, with the majority of the WO being carried out by volunteers. We reluctantly decided that Bristol VR UDL 673S lex Southern Vectis fleet number 6731 had become uneconomic to repair th malor £ha55is corroslon so It wès sold for scrap. We thank a memberwho glfted a 1967 Bristol RE bus HDL 23E. It is fulty restored a makes a welcome addition to the collection. Whèn the bulldlhg at Rydè was purchèsed, rather than donate funds a few members chosè to Ibah the mU&èdm funds. w(th a good cash position, the Trnstees decided to repay all of these loans leaving the museum virtually debt free with only a small mortgage remaininK. Somè of thÈsè1o3ns were turnÈd into donations by the lenders. The Trustees would like to thank all who have helped achieve so much in seventh year Df opening In our own freehold premtses. Page I
SLE OF WIGHf BUS & COACH MUSEUM LIMITED IREGISTERED NUM8ER.. Oll762) EPORT OF THE TrU5TEE5 OR THE YEAR ENI)ED 31 DECEMBEft 2022 FINAKIAL REVIEW Results for the fthancbal y•ar Total IncDme for the year aniounted to £108,01012021.' £96.9001 includlhg £lO,1[}I2021= £13.6991 of restricted income. Total expendilure in the year amounted to £79,81312021'. £78.019,1 including CDsts of ralslng funds of £4.30712021.. £11.1951 and costs of iunnlng the Bu5 Museum of £75,50612021.. £66,A241. Re5trirted experkditure amounted to £9,97412021.' E6,4151. Unrestricted funds carried forward at the end of the year afflounted to £496,457,12021: £466.7601 and restricted funds cayried forward èt the end of the year amounted to £2.20D12021: £3,700}. Resèrves pollry It is the policy of the charitable company tu malntain unTestricted funds. whl¢h are the free reserves of the tharttable company. at a level lch equates to approximately six months unre51ricted expenditure. This pfovides sufficient fund5 to cover goveman and 5UPPOrt costs. In addition the tharitable company maintains additional unrestrlcted funds to enable the charity to acquire further vehicles as they k>ecome available. Additional fund5 will be used to enhance the museum displays etc, and allow the charity to invest in the collection when the opportunity arise5. The free unrestrbcted general funds of ihe thar4ty a0ted to £99,326, whlth the Trustees ton51der adequate lo meet the aims set out in th55 pollcy. The TTU5tees invest the funds ofthe charity as they see fft. FUTURE PLANS As always, we h3ve to strive to keep costs down and revenue up and this wlll continue to be the focus for the Trustees. To this end we will tontinue tD seek donations and in particular exploit the considerable stope to IntrEasE the participatlon ol members rather than use paid Staff or contiactors. We will tontlnuè work btr) Dalmlèr CK. At veèr Ènd the vehicle the thagiii had bèen reassemblèd and work 15 about to start oh the body. The restoration of our ex Soirthèrn Vectis Bristol K IJDL40 fleet number 7661 15 Ptogresslng well. Trustee5 have allocated funds to ensure high 9uality restorations can be completed by our volunteer5 Wlth specialist work carried out as Yequlred. A repaint for our Bristol MW bu5 lex Southern Vecti5 8061 has been planned for Some time but cuuld not be done duting the Covld restrlctions. It has beefi rescheduled for 2023 part Funded by specific donations. Work will continue Dn our desireto achievE accredited museum status. Following the Installing of a new security fente In 2021 the Trustee5 are looking to replace the entran gates whlch are showing siBn5 Of detay and have had many repaiis. There are no other malor refuibishment plans for the premises apart Irom the Brant fvnded 8arden planting and fTrr7ishin8 the Bill Ackroyd Rooffl upgrade. STRucfuRE, GOVERNANCf AND MANAGEMENT Goyeming do£ument The charity is controlled by its 8overning document, the memorandum and articles of assoclailon. dated li October 201. Recrultment and appointment of new tru$tee$ A new trustee may be appainted by a Solution of the trustees recorded in the fflinutes and signed by the new tnJ5tee, and such record shall be condu5ive evidence of his appointment. R15k mèna8ement The tnjstees have examined the mèjor strategic, bysiness and operational risks which the charitable company faS and fDnfirm that systems have been estsblished to enable iegulaf reports to be produced so that the necessary steps can be taken to lessen these risks. Page 2
ISLE OF WIGHT BUS & COACH MUSfUM LIMITED IREGISTEREO NtIMBER: TrII)877621 REPORT OFTHE TRUSTEes FOR THEYEAR ENDED31 DECEMBER 2022 REFERENCE AND ADMINISTRATIVE IJETAILS Reglstered Company number 04087762 (England and Wale51 R*tered Charlty number 1097347 ReStered offltè The Bus Depot Park Road RydE Isle of Wight P033 2BE Try5teÈs RJ Newman K Randle LGRoberts R Clultt P R Dick5 B Bartram T Whelan G Brazier T Wood D Priddle Company Secretsry J Lamb Ind#pend#nt ExamlnÈr Brlght Brown Llmited Chartered cDVntants Exchange House St. Cr055 Lane Newport Isle of Wlght P030 5BZ 8ank•rs UoydsTSB 39 Union Street Ryde Isle Df Wight P033 2AB Page 3
REPORTOFThEThUSTP Thls ftport hx b•tn PT¢par•d In attordor¢c¢ the spothl wovkions P¥rt IS of the CLThpankn Act 2(Th •th9 to mall 1.Sth.ffl .&.a 2_7 .. and slwd on tts b•halfbv: •proved b¥order ofthe Imrdoftru5tets rm. . D Prfddl¢- Tru#ee P48e 4
INOEPENOENT EXAMINER'S REPORT TO THE TftUSTEE5 OF ISLE OF WIGHT BU5 & COACH MUSEUM LIMITED IREGISTEREP NUMBEII: 1140877621 Independent Examlhè¢s report to ihè truStèÈs of l$le ol Wl8ht 8u5 & Coath Museum Umltèd Ilhe Compahy'l I report to the charity trustees on my examination ofthe ztc(NJnt5 of the Company for the year ended 31 Dember 2012. RponsIbIlItieS and b451$ vf report As ihe charity's trustee5 of the Company land also its directors for the purposes of compaJ)y lawl you a responsible for the preparation DI the accounts in accordance with the requirements of the Companie5 Art 20061'ihe 2006 Act'l. Having s*i5fied myself that the aC£Dunt5 of thè Company are not requlred to be audlted under Part 16 of the 20( Act and are ell&lble for independent eKaminatiDn. I report In respect of my examination of your chariws accovnls a5 carried out under Section 145 of the CharltlÈs Act 20111'the 2011 Art'l. In ¢arryihÈ out thy eyèmination I have follovdÉd the Dlrettlons glven by the Chèrltv Commlssion undersettion 14515) Ibl of the 2011 Act. Independent examlner'5 Statemènt I have Completed my examination. I confirrn that no matters have come to my attention in connedlon with the examination giwng me cause to believe.. accounting reEord5 were not kept in respect of the Company a5 required by Sedion 386 of the 2006 Act,. or the accounts do not accord with those recofds: or the accounts do not comply with the accountlng requlrements of Section 396 of the 20C6 Act other than arry requirement that the account5 gtve a tiue and tsir view which is not a malter considered as part of an Independent examination.. or the accounts have not been prepared in accordan with the methods and principles tsf the Statement of Recommended Piactice for èctounting and reporting by charitie5 (applicable to charities preparing their acccwjnts in BCCOTdance with the Financial Aeportlng standard applicable thÈ UK and Republlc of Ireland IFRS 10211. I have no concern5 and have rome 3cross no other matters in Connection with the èxamlnatlon to whl¢h attention shDuld be drawn In this report in order to enable a proper understanding of the atcounts to be reached. David 5teveY15 8dght erown Lifflited Chartered AtCDuntanlS Exchange House St. Cros5 lane Newport Isle ot Wight P030 58Z Page 5
ISLE OF WIGHT BUS & COACH MUSEUM LIMITED STATEME OF FINANCIAL ACTNITIES FOR THE YEAR ENDED 31 DECEMBER2022 2022 Total funtls 2021 Tutal funds Unre5trirted funds Restficted fund Note5 INCOME ANO ENDOWMENT5 FROM Donatlons legacies 39.865 lo.11 49,965 55.098 Charltable ¥rti¥Stles unning of the Bus Museum 42,366 42,366 29,3 othertrading actiwitie5 Other sncomp 12,132 3,547 12,132 3.547 7,072 5.340 Totsl 97,910 10,IOD IOR,OID 96.900 EXPENDITURE ON Raising funds 4,307 4.307 11,195 Charftablè aLthttIès Running of the Bus Museum 65,532 9.974 75,506 66.824 Total 69.839 9.974 79,813 78,019 NET INCOME Transfers between lunds 28.071 1.626 126 11.6261 28,197 18.881 12 Net movemenl In funds 29,697 11,5001 28,197 18,881 RECONCIUATIOf4 OF FUND5 Total funds brought forward 466,760 3.700 470,460 451,579 TOTAL FUNOS CARRIED FORWARD 496,457 2.200 498,657 470,460 The notes fom) part of these financial statements Page 6
ISIE OF WIGHT BIIS & COACH MUSEUM UMITED IREG15TERED NIIMBER: 040877621 BALANCE SHE 31 DECEMMER 2022 2022 Totsl funds 2021 Total funds Unrestricted fvnds Restricted ftsNd NDte5 FIXED ASSErs Tangible asset5 403,010 403,010 399.114 CiIRRENT A5T5 Oebtors Cash at bank and In hand 8,041 93.178 8.041 95.378 5.252 97.013 2,200 101.219 2.200 103,419 102,265 CREDITOAS Amounts falllng dtae wlthin one year 12,2821 12,2821 125,1071 NET CURRENf ASSErs 98.937 2,200 101,137 77.158 TOTAL ASSETS LÉSS UIRRENf UABIUflES 501,947 2,20D 504,147 476,272 CREDIYOR5 Amounts falling due after more than one year 15,4901 15.4901 15.8121 NET AS5Ers 496,457 2,200 498,657 470.460 FUNDS Unrestricted funds Restricted funds 496.457 2,200 466,760 3,71KJ 70TAL FUNDS 498,657 470.460 The tharitable company is entltled to exemption from audit under Section 477 of the Companie5 Act 2006 fur the year ended 31 December 2022. The members have not required the company to obtaln an audit of its financlal ststem2nts for the year ended 31 Decewnber 2022 In aCCOfdanEe with 5ettion 476 of the Companies Act 2iJ)6. The trustees atknowledgè thely responslblllties for (al ensuring that the ¢haritsble company keeps accounting recordsthat comply with Sections 386 and 387 Df the Companles Act 2(M)6 and preparing financtal statements which 8lve a trne and frdir view of the State of 3ffalr5 Df the tharitable CLNnpany as at the end of each frnancial year and of Its 5urplu5 or deflclt for each financial year in accordance with the reguirements of Sections 394 and 395 and which otherwlse comply with the requirements of the Companies Act 2006 relating to fhnèncièl statements, so far as applicable to the charitable tompanv. Ibl The notes form part of these financlal statements Page 7 continued...
I >1 NCEI4•ER 2022 TheSenan¢1 statemvts havo b••Th In accNdante wlth the appUcaWe to thrfmbltcrnniessublect to the small companfèsreBitn•. Thollnindd •tlo•ntswefft ipwond bytht 8¢Mrd ofTruttarf authorw A.>.fA.IVKi SIed on ttsbEh8lf ty.. £013 .,4nd were D Prlddle-TnJstee The Ite$0m1 ofth¢se %nanc+al ststemeTrlg
15LE OF WIGHT 8U5 & COACH MUSEUM LIMITED NOTES TOTHE FINAt4CIALSTATEMEpirs FOR THEYEAR ENDED 31 DECEMBER 2022 ACCOUNTING POLICIES Basls of prwrln8 the finantial statements The financial statements of the charitable company. which15 a public benefil entity undef FRS 102. have been prepared In accordance with the Charlties SORP IFAS ID21 'Ac¢ountlng and ReportlnB by tharttles.. Ststeméftt of Recommended Proctice applitable to charitie5 preparingtheir account5 in acturdance wlth the Financlal Reportlng standard applicable In the UK ahd Republit of Ireland IFRS 1021 lèflèctlvè i Jahuèry 20191., Finatttlal RèPOrtlnE Standard 102 hÈ Fln)ntlal Reporting Standard applicable in the UK and Republic of Ireland. and the Companies Ad 2006. The finandal 5t3ternents have been prepared under the historical cost conventhon. The Isle of Wight BLts and Coach Museum LlfflitEd Is a prlvatE company Ilmited by guarantee and inctypDrated In England. The financial statements are presented in Sterling. which kg the functlonal Cufrency of thÈ charitable company. There are no material uncertainties about the charity's abslity to continue. Ineomè Voluntary Income Voluntary income is reco8nised in the Statement of Financial Activrf(ies once the tharitable company ha5 entitlement to the funds. It is probable that the income wdl be received and the amount can be measured reliably. For donations this 15 gtneralty upon recelpt. Grants are recognlsed whÈn uncondltlonal entitlement to the income is ped to the charitable company. Where there are performance related terms and condltlons that must be met before uncundltlonal entltlernent passes to the charitable company, the Income is reco8nised once it il hlghly probable that these will be met. Where no such condit40n5 exlstthe Income is reco8n15ed when il is recelved. Charltable and othertr•dlwd acthAtI Income from tradln8actlvlties Is reco8nlsÈd of VAT and all Dther sales taxe5 when the goods are dellvered or sefvl¢e5 are provided. meMbehIp intomè Is rècognlsed evenly overthe perlod the membership relates to. thStment In¢om# Intèrest receNable Is reco8nised over the pertod It Is accrued. ExpEndltUTO Li)bilities are recogni%ed as expenditure ag soon as there Is 3 legal or constructlve obliKatlon Commtttlng the charlty to Ihat expendltvrÈ. It Is probablè that a transfrf of economlc bènpfi15 wlll bé fegtslred Ih settlèrhÈnt and the amount of the obligation can be measured rèliably. Expendlture is accounted for on an accruals b3Sis and has been c13sslfied under headin8S that aB8re8e all tost related to the cate80ry. WheTr costs cannot be dlrectty attrlbuted to partlcular headin8S they have ten allocated to activitles Dn a bd515 conslstent wlth the use of resource5. Tanbla Ilxed assets Oepre£iatlon ts provlded at the followin8 anrTrual rates in ordtr to off each asset over its e5tlmated useful life. FlxturÈs and fittlngs 15% on reducing balance and 10% on cost The Trustees are olthe opinion that ihe residual value of the propertyowned would be greaterihan ihe Inltial cost and so no depreciation has been char8ed on the freehold property included In flxed assets. Page 9 tDntlnued...
ISLE OF WIGHT BUS & COACH MUSEUM LIMITED NOTE5 TO THE FINA14CIALSTATtMENTS. contlnued FOR THEYEAR ENDED 31 OECEMBER 2022 ACCOUNTING POUCIE5- contlnuad Tanglble flxed a55ets No depretiatlon ha5 been charged on the motorvhlcles included in fixed assets. Due to the unique nature of the motor vehicles, the tfU5tees are of the opinion that these assets afE Èxpected to only appreciate In value. and the charsty intends to keep a full malntenance programme on each vehicle In order to ensure that they are kept in thelr eKlStin8 conditiun. AU of the fixed 35set5 are used in direct furtherante of the charity'5 objertkves. rhe trn5tees consider that the buses arc• Investment a5set5 and have a value of over their cost of £68,57012021: £70,571). Taxatlon Th charity is exemptfrgm tCpOratIon tax on its charftable actiwties. Fund accountlkn¥ UnTeslri¢ted funds can be vsed In accordance wlth the charitable objective5 at thE di5tretion of the trUStS. f¢estricted funds can only be used for particular rstrICted PUfPD5es within the objects of the charity. REstrlctlons arise when speufied bythe donor orwhen funds are raised for particular resttlcted purposes. Further explanatlon of the nature and pufpose of each fund is induded in the note5 tothefinancial statements. OTHER TRADING ACTIVITIES 2022 2021 Sales 12,132 7.072 NEf INCOMVIEXPENDITUIIEI Net Incomellexpendlturel Is stated after charg1n{CredItln).- 2022 2a21 Depreciation- owned assets Deficit on di5P05al of fixed a55ets 5,073 4,285 743 TRUSTEES. REMUNERATION ANO BENEFITS Thère were no trustees, remuneration or other benefftts for the year ended 31 Oe¢ember 2022 nor for the year ended 31 Deomber 2021. Page 10 ontlnued...
ISLE OF VM6HT 8US & COACH MUSEUM LIMITED NOTESTOTHE FINANCIALSTATEMETffS- wnllnuéd FOR THEYEAR ENDED 31 DECEMBER 2022 TRUSTEES, REMUNERATION AND BENEFITS- ¢ontlnued Tn45tees' èmpthises There were no trustees expenses paid for in the year ended ai December 2022. The followlng feiry costs incurred by the charlty were reimbursed by trUStee5 in 2022.. Benjamin Bartram £683 12021.. £4341, Brian Dliks £35112021: £3261. and Derek Pfiddle £14712021= £nill- tOPAPARATivÉS FORtAE STATEMENT OF FINANCIALACtIVITIES The comparatives forthÈ statement of financial attivitSes are all in relation to unrestricted funds. TANGlblE FIXEDASSET5 Fixtures and fitting5 Freehold pmperty Motor vehttles Totals At l January 2022 A(Idltion5 Oi#posa15 304,261 33,343 10,969 ?0,571 408,175 10,969 12.0001 12,TrJoI At 31 December 2022 304.261 44.312 68,571 417,144 DEPRECIATION At I january 2022 Charge for year 9,061 5.073 9,061 5.073 At 31 December 2022 14,134 14,134 NET BOOK VALUE At 31 DembEr 2022 304,261 30,178 68,571 403,010 At 31 December 2021 304,261 24,282 70,571 399,114 DE8TQRS: AMOUf4TS FAWNG DIIE WITHIN ONEYEAR 2022 2021 oiher debtor5 PIEpayments 4,088 3,953 1.298 3,954 8.04 5,252 Page 11 continued...
IstE OF WIGHT BUS & COACH MUSEUM UMITED NOTESTO THE FINANaALSTATEMENTS- tontlnued FOR THE YEAR ENDED 31 DECEM8ER 2012 CREOITORS: AMOUNT5 FAWNG DUE WITHIN ON£YEAR 2022 2021 Bank loaD5 and oveTdrafts15ee note 101 Loan Accrued expenses 390 375 22.910 1.822 1,892 2,282 25,107 CREDrroRS: AMOUNT5 FAiLING DUE AffER MOAETHAN ONE YEAR 2D22 2021 Bank loons (see note 101 5.490 5.812 io. LOANS An anaty5i5 of the maturity of loans15 glven below: 2022 2021 Amouhts falllng due withlfi OhèyÈaY tsn demand: Murtgage 390 375 Amounts fallin8 between one and year5.. Mort83ge- 1-2 years 393 Afnounts fallin8 due between two and five years: Mortgage- 2-5 years 1,349 1,297 Amounts falling due In more than fNe year5- Repayable by instalments.. Mortgage more 5 yr 3.732 4,122 ii. SECURED DEBTS The following secured debts afe Included within tredltOfS.' 2022 2021 Bank103ns S.880 6.187 The mortgage has been seojred ort the company'5 frèèhold property. Page 12 continued...
ISLE OF WIGHT BU5 & tOACH MUSEUM LIMITED NOYESTO THE FlhlANCIAL STATEMENT5- contlnued FOR THEVEAR ENDED 31 DECEMBER 2022 12. MOVEMENT IN FUNDS Net movemÈnt In funds Transfers betweÈn funds At 31.12.22 At l.L22 Unre5trltted funds General fund Property fund Fixed Assets 73,834 298.074 94,852 33,143 17,6511 308 8,969 99,326 298.382 98,749 15,0721 466.760 28,071 1.626 496,457 Restrirted funds Restricted Fund 3.7 126 11,6261 2.200 TOTAL FUND5 470,460 28,197 498,657 Net movement In funds, included in the above are as fDIIows: h)toming resour$ Resource5 expended Movement in funds Unyestrirted funds General fund FrKed Asset5 97,909 164,7661 15,0731 33,143 15,0721 97.910 169.8391 28,071 Restrf£ted fynds Re5tritted Fund 10.100 19.9741 126 TOTAL FUNDS 108,010 179,8131 28,197 Page 13 conlinued...
ISLE OF WIGHT BUS & COACH MUSEUM UMITED NOTESTO THE FINANCIALSTATEMENTS- contlnued FOR THE YEAR ENOED 31 DECEMBER 2022 12. MOVEMENT IN FUNDS- conilnu¢d Comparth¢sfor movement In fund5 Net movement in funds Transfers between fvnds At 31.12.21 At 1.1.21 Unrestrlrted funds General fund Property lund Fixed Assets 85,030 276.447 86,622 11,597 122,7931 21,627 8,230 73.834 298,074 94,852 44B.099 11,597 466.760 Restrl¢ted IndS Reslricted Fund 3,480 7,284 17,0641 3.71 TOIAL FUNDS 451,579 18,881 470,460 tomparative net movement in funds, included in the above afe as follows: Incoming resources Resources expended Movement In funds Unrestrfcted lynd5 General fvnd 83,201 171,6041 11.597 Restrt¢wd funds Restricted Fund 13,699 16.4151 TOTAL FUNDS 96,900 178,0191 18,881 Page 14 continued...
ISLE OF WIGHT BUS & COACH MUSEUM LIMITED NOTES TO THE FII4ANCIALSTATEMErifs. conltnued FOR THEYEAR ENDED 31 DECEM8ER 1012 MOVEMENT IN FUNDS. tontlnu•d A current Year 12 month5 and prior year 12 months combined posltion 15 as follows.. Net movement in funds Transfers bptween funds At l.L21 31.12.22 Unrestrkted ftsnds General fund Property fund Fixed Assets 85,030 276,447 8fi622 44,740 130.444) 21,935 17.199 99,326 298.382 98,749 15.0721 448,099 39,668 8,690 496,457 Rèstrlrted funds Restricted Fund 7,410 18,6901 2.200 TOTAL FUNDS 451,579 47,078 498,657 A current year 12 month5 and prior year 12 months comblned net movement in funds, included in the above arè as follow5: Incoming resources Resources expended Movement in funds Unre5trirted funds General fund Fixed Assets i.iio 1136,3701 15,0731 44,740 15,0721 i,iii 1141,4431 39,668 Res¢rkted funds Re5trFCted Fund 23.799 16,3891 7.410 TOTAL FUNDS 204.910 1157.8321 47.078 Re5trirted Funds Durin8 the periDd, £2,700 Df the re5trirted fund5 held Dver from 2021 relatln8 ID the Royal Pavlllon and Mu5evms 8rant has been expended and used on the up8rade ofthe children's room. Wlth the remainlng tÈstricted funds, the tharity has plans to spend the £400 from Cwp carbon nèvtral project on thè gafden duiing Spiing 2023 and the donation of E600 from Mr D Andrews to be used in the 2023 towards the repainting of Bristol MW18061. Other restritted funds remalning at the end of the year conslsts of £1.200. whlch relates to the Royal Pavilltsn and Museums grant to be spend on an OfBani5ation health check. Page 15 ontinued...
ISLE OF WIGHT HUS & COACH MUSEUM UMITfO NOTE5 TO THE FINANCIA{ STATEMENTS- conllnu FOR THEYEAII ENDED 31 DECEMBER 2022 12. MOVEMENT IN FUP4DS- tDntlnued Transfers between funds Dew)ed Funds: Property Fund The transfer of £308,12021- £21,627) relating to the valve of the property less any outstsnding loan5 Secured on the property was transferrèd from thè gènèral fund to thè dèsl8rtatèd furtd. Thls rèfletts thè valuè of the loan rÈpald in the vear from general funds. Flxed Asset Fund The transfer of £8.969.12021- £8,230) re-align5 Ihe value of the fvnd with the net btsok value of the rlUTeS and fittirtrg5 and motor vÈhiclÈ% at theyear end. Reslrlcted Fund5: The transfer of £1.626 12021 £7,064) relates to fixed assets purthased uslng resrricted funds which have beèn transferred intts general use. OThER FINANCIALCOMMITMfNY5 A$ 3t 31 DÈtèmbÈr 2022 the charity was committed to expenses ijnder non-cancellable operatin8 leases of freehold PTopeity amounting to £7,831 due In lessthan ofte year and £3.224 due in two to five years. AELATED PARTY DISCLOSURES The tharity ha5 COTltinued to make payments Df È3.096 for the year within the term5 of Its Itase a8reement to Mr D Prlddle. for the rental of a barn thal the chafTrty u5e5 for the 5toraBe of vehlcles. Mr Pvlddle has been appointed a truste durirtgthe year. Page 16
15LE OF WIGHT BUS & COACH MUSEUM UMITED DETAILEO STATEMENT OF FINAf4aALAcrivinES FOR THEYEAR ENDEO 310ECEMBER 2022 2022 2021 INtOME ANtr ÉNOOWMÉNts t)onallons and leytles Donation5 Glft aid Grants 35,075 2.790 12,1 14,699 1.899 38.500 49.965 55,098 oihertradln8 actlvltles Sale5 12,132 7.072 tharltable aCtt$ Admissions and tDurs Subscriptions 32,940 9A26 18,809 10.581 42.366 29,390 Otherlncomè Other income Interest received 3.543 5.339 3,547 5,340 TDtal Incomlngresources 108,UiO 96,YOO EXPENDITURE R3JSin# do*atknis abld leKadtS Postage and 5tat40nery 1,930 3,980 oiher tradlng actl¥ltles Openin8 Stock Purihases 4.497 2,718 2.377 2,377 7.215 tharltabl• actl¥ltles Rate5 and water Insurance Light èr7d heat Telephonè Carried forward 521 7,215 3,909 607 12.252 5,741 4,053 662 11.456 This page does nrjt form part of the statutory financial statements Page 17
ISLE OF WIGHT BUS& COACH MUSEUM UMITED DETAILEDSTATEMENTOF FINAIICIALACTIVITIE5 FOR THe YEAR ENDED31 DECEMBER 2021 2022 2021 CharItsb artl¥ltl•s 8rought fonNard Advertisin8 Sundries Motor expenses Trèvellin8 Rent RÈpalis and rertèwals Events Fixtures and fittln85 Loss on Sale of tangible fixed asset5 Mortga8e interest 12,252 3.896 93 19,391 6.988 9,973 6,809 7.929 5,D73 11.456 5,472 138 20,418 1,562 9.702 7,803 3,321 4,285 743 360 72,764 65,198 SuppDrt CP5ts Go¥erna*te tosis Attountancy fees PfOtÈSSlOnal fees Subscriptions 1.476 1,054 212 1,392 2,742 1.626 Total resouices expernled 79,813 78,019 Net Income 28,197 18.881 This Pa8e do notform part of the ststutory finandal statements Pège 18