Charity rnglstr•Uon number 1098025 COm￿nY rry15ti¥tion numb•r 04710761 (England and Wales) FELIXSTOWE AREA COMMUNITY TRANSPORT LTD FACTS ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 •A￿xLYEZ• 1711012024 COMP￿lEs HOUSE 240 FELIXSTOWE AREA COMMUNITY TRANSPORT LTD FACTS LEGAL AND ADMINISTRATIVE INFORMATION Mr S JeMbT MrRCNice Mr J Heatht(M%( Mr l Read Charlty numb•r 1098025 Company numb•r 04710761 Prln¢lp•l address The Putakabii Garrison Lane Car Pafk Felixsto Suff￿* IP11 7SH Reglstored offlce Pcthkabln Garrison Lane Car Pa FdixsiowE Suff￿￿ IP117SH Ind•pondent oxamlner Laker Goothhy) JO￿ Ltd Unit 3 Th￿s￿e1ft￿￿ &￿InesS Pa IrN•Airth Road Feeri Essex C05 9SE FELIXSTOWE AREA COMMUNrrY TRANSPORT LTD FACTS CONTENTS Trustees. report Staterrffit of Trt￿tee$. ￿P￿}stIlli11es Irvjependenl exarrMr*$ Rport Statement of finanfial acbwties Balano sheet Notes lo Ihe fina￿1•1 stat•TEnts 7-14 FELIXSTOWE AREA COMMUNITY TRANSPORT LTD FACTS TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORTI "_FOR THE YEAR ENDED 31 AIARCH 2024 The T￿￿tee5 present their annual rewt aThJ finaTh>al statenwts for year ended 31 Mar(* 2024. The financial $taienEnls have been prepared in awxdance V•ryth thè aeeounkn.rg poliaes set oul in note 1 to the financral ststemenls and compty wlh the Chari￿$ Igo¥eming documentl. the CoMpan￿S Acl 2006 and 'AccounlirrfJ and Repo￿.n9 by Chanties" Statement of Recommended practi￿ awicable to tharities preparing their accounts in accordan¢e V￿th Ihe Finan¢ial ReF*ylin9 Stsndard applicable wi the UK and Republc of Ireland {FRS 102). leffedive 1 January 2019). Objoctlves and actlYM]oS To prow¢Je a community liansport seThice for the irtwbrtanls of Felixstrh* arwj ivs neohbourhood are in need of such a services because of age. Sickness or thsabilty Imer)tal or physicaf). poverty. or ba￿USe of a lae* of availability or adequate aThJ safe public transport. The aim of ihe thaiity is by0￿dI￿ ConneclirKJ ComuThlies seNo. CorMMx¥ty Car Sw4ryce, Group Hire and Gr(yJp Contract Services. The Twstee$ have pabj gLlldan￿ i5swI by Ctwity Ctynnission in deOd￿￿j what aclN6tles the Chanty should undertake. Achlov•fflènts and p•rlomianc? The or9anisalion ho$ eryoyed a year of stabilty in this financial perknj. After the perlod of uncert*nty after paThJemi¢ a￿1 invesiments made last year. Ihe oryarisatlon has use(l the year lo 31st March 2024 to fell￿ to a on maintsinirvj ￿ CharitsbÈ obiedives of the organisation. Fln•ft¢l•l v•vl•w It is Ihe policy of the Charity that unrestri(thl funts have not been designated for a speryfic use should be maintained at a level equivalent to betrfftn three aTrJ six month's expenditwe. The Twslees consider Ihal ￿$¢The5 at this level will en$ure that. in the e¥ent of a signtficani dr¢)p in fuThJirKJ. they TAfyII be able lo conbnue the Charity's current activities while eonsk1eralion is giben lo ways wi addiborAI fun(Is nw be ralsed. TIMS level of reseNes has been Maintai￿ thrwghoul the year. Struetur•, gov•rn•n¢• and managemeno The Charlty is a comparry limiled by guarantee. The Trustees. wtho are also the directors for tr* PLxpose of compary law. •M1 Thffio served during the year and up lo the dale of Signatu￿ of the financial statements vMe'. r N Barber Mr S JenniTh3$ MrRCNice Mr M Osboun Mr J Heatr￿ck Mr l Read IResigr*d 25 SepierTtrr 2023) (Resigned 9 NoNerrthr 2023) Trustees are app(4nled in accoTdane* W•ith ts c￿nY Articjes ofAssocialion. None of the Trustees has any benekial interest in ts cornpary. Al of ts Trustees * rwnbefs of Ihe company and guarantee lo contribute £1 in the event of a V•indirKJ up. FELIXSTOWE AREA COMMUNITY TRANSPORT LTD FACTS TRUSTEES. REPORT (INCLUDING DIRECTOR'S R&PORT) (CONTINUED) FOR THE YEAR ENDED 31 AIARCH 2024 The Twslees, rewi was appro￿1 by the Board of Tnthes. Mr S Jennings MrRCNice 20 September 2024 FELIXSTOWE AREA COMMUNITY TRANSPORT LTD FACTS STATEMENT OF TRUSTEES. RESPOHSIBIUTIES FOR THE YEAR ENDED 31 MARCH 2024 The Trustees, vtho are also tl* directQTS of Fdix$l¢)*e ￿ea CommLllity Transr#Jl Ltd for the purpose of company law. are responsible for preparing ihe Trustees, Report and the finarNial state￿nIS in a￿rdance a￿l¢able law and United Kingdom Accowrtirvj Star#Jards (Ur￿led KiW(Mn GerwatyAc(•ed Acr￿￿n9 Pra¢Xice). Company Law re4uiTes Ihe Trustees lo prepare financial state￿￿nts for each financial year vthich give 8 In￿ and fair wew of the slate of affairs of the Chanty aThl of the incorrir¥J resour￿ atNI applica11￿ of re¥ource8. induding the income and expenditu￿, of the chaiitab(e c￿npanY for that year. In ￿paring the$e finaniial statemerts. Tntstees a￿ requred to.. . seled suilable a¢cwnting poliries and ttEm eonsist*.' - observe the methods aThJ pnncspjes in the Charrties SORP.. . make jWm¢nts and eslimales that are reas¢Thble &)d pnthit and - prepare the finandal slalements on the going Co￿eM t)asis Lmiess it is inappropriale lo p￿￿me Ihal the Chanty V•ill ¢onts.￿ in operation. The Trustees are responsible for keeping adequate a￿￿tirwJ rec￿5 that disdo$e wrilh reasonable accuracy at any time the finanual p￿itiOn of the Charity arKI enaNe them lo ensu￿ that the finanaal slalemenls comply wlh the Companies Act 2006. They are also respongble for 5afe9uarding the assets of ts Charity and hence for takirwj reasonable steps for the p￿￿ention and delec*on of fra￿j other iwularilies. FELIXSTOWE AREA COMMUNITY TRANSPORT LTD FACTS INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FEUXSTOWE AREA COMMUNITY TRANSPORT LTD I report to the Tnkqtees on my examination of the ffin8Nial State￿￿5 of Felixslov* Area Community Transport Ltd (the Charsty) for the year 31 March 2024. Responslbllltlos and basls of rnport As the Trustees of the Charlty land al80 lls dlredm lor the pu￿OSe8 of coThyny law) you resp￿S1b1e for the preparallon of Ihe finandal Stste￿￿ts In accordarKe ￿1b its requiremenls of the CoThyanies Act 2006 Ilhe 2006 HavirKJ satisfied mysdf that the finarKyal slalements of Tr Chanty a￿ not requwed lo te audited Lsnoer Part 16 of the 2006 Act and are eligible for indepeThJenl exanwnation, I report in respect of my examination of the Charity's financial statements ￿[ried out ur¥Jer section 145 01 the Charilies Act 2011 (the 2011 Act). In earying out my examination I have fomowed all the awubbè O*ectsorts given by the Chanty Commisswi ur#ler seth.on 14515)Ibl of the 2011 Act. Ind•pondent examlnorfs stalgrn I have completed my examinalion. I cThifirrn that rrf) mgtters ha&* to rry atten11￿ in tA>nnection wAth the examination giving me cause to believe Ihal in any material reSP￿t accounting iecords %%ere not kept in respe(a of Ihe Charty as required by setxon 386 of 2006Acl: or the financial state￿EntS do not accord *ith those record$'. or the financial statements do Tr)t eorrpty with ts aeeounting requirements of section 396 of the 2006 Act other than any reouirement tr￿1 the accounts give a true and fair view which is not a matter considered as part of an independent examination., or the financaal slalements haNe w been prepa￿1 in aecordanr* ¥￿th the methods and principles of the Stalemenl of Recommended Praclice for accounliry a￿1 reporting by tharities applicable lo charities preparing their aC￿UnIS in accoTdance ￿1h Fin￿al RepoitrYJ StsThJard apph"eable in the UK and Republi¢ of Irelartd (FRS 102). I have no concems and have come auoss no other Matte￿ in cOn￿On ¥￿th the examinalron lo vthich attention should be drawn in this ￿pOrt in ¢yder to enable a proper urK1erstsTrJing of the finar￿la1 statements lo be react￿d. -ckn￿L Laker Goodwln Jongs Ltd Unil 3 Threshelfords eu￿￿5$ Pafk Inworth Road FeerirrfJ Essex C05 9SE Dated: 20 Septemt*r 2024 FELIXSTOWE AREA COMMUNITY TRANSPORT LTD FACTS STATEMENT OF FINANCIAL ACTMTIES INCLUDING INCOME AND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 UnreStrIc￿ UnrnStrlCt￿ Restrlclod funds funds funds 2024 2023 2023 Totsl 2023 Incom• and •ndovmi•nts from: Donalions and legacies Charitsble a¢tivilie$ Other inryjff 42,748 71.372 39.334 87.294 6.483 31.5(J) 70,834 67,294 6,483 Total Incomè 114.120 113.111 31.SOO 144,611 Ex 8nditurg on: Charitable activlties 128.017 118.410 118.410 l>o$s transfers be1¥￿en funds Net1oxpondltur•ylncom• for tho yearf N•t mov•m?nt In funds 31.500 (31.5LK)) {13.89n .201 26,201 Fund bala￿8 at 1 April 2023 1￿,952 80.751 80.751 Fund balan¢¢s at 31 M•r¢h 2024 93.055 1tO,952 106,952 The slater￿n1 of IIna￿al 8cliviknes ind￿leS all galrrs and losses recognised in the year. All income and expendilure derive from coniThMry acts?￿1￿$. The slalement of finanual activitles also eonwies V•ith the requirements for an incorfe and expeimlilure accou under Ihe Cunpanles Acl 2006. FELIXSTOWE AREA COMMUNITY TRANSPORT LTD FACTS BALANCE SHEET ASAf31 MARCH 2024 2024 2023 Flxed assets Tangible assets 43.586 68,235 Currnnt assots Debtors Cash at bank wwj in h•NI io 13,647 39.851 13.131 30.746 53.498 43.877 Crgdltors: •mounts fvlllng du• wlthln ono y••r 11 {4.029) 15,1601 Nel (￿rrent assets 49.469 38.717 Total assots less cu￿nI Ilabllltles 93.055 106,952 Income fvnd8 Un￿striCted fund$ 93.055 106.952 93,055 1Ch%,952 The company is enllued lo the exemption from the audit Tequiremert in se￿10n 477 ofth Companies Act 20¢A, for the year ended 31 Marth 2024. The director ackno* hrs resp￿S1bt1itES c(ynpl￿ry Imlh requirements of the Cryryarmes A¢t 2006 with respecl to accounung reco￿5 and preparnlion offnancial statetwts. TP* members have not requred tr* company lo obtsin an a￿111 of its firAr•ial statements for the year On ystyon in accordance Vltri section 476. These finanoal $tslements ha¥E been pwred in attordance with tr* provisirJrt& applicable to C￿PanieS subj'ect to the small companies regiffe. The finan¢ial sl*m¢nl$ appro4ed by tr* T1[￿lee5 on 20 Wember 21Y24 Mr S Jennlngs MrRCNi¢ Company reglslrallon numbei 04710761 FELIXSTOWE AREA COMMUNITY TRANSPORT LTD FACTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Acc¢Juntlfig polltl Charlty Inforniatlon FelixstothE A￿4 Community Tfanswt Ltd is a prbvale eompany limited by guafanlee incorporated in Er@land and Wales. The registered office is Tr Portakabin. Garrison Lane Car Park, Felixs11)we, Suffolk. IP11 7SH. 1.1 AG¢ountlng ¢onvontlon The financial slalemenls have prepared in accorda￿ with the Chariivs MemraThJum and Artides of Assooation. the Companies Arl 2006. FRS 102 "The Financial Reporting Standard applKabk in the UK and ReputAic of Ireland" I"FRS 1021 and ts Charities SORP-Aee4￿t￿Vj aThJ Reporb"NJ by Charities: Stslement of Recommended Practice applIcat￿e to tharit*s preparing ts"r a￿￿1$ in accoryiance v*th the Finanryal Reporting Standard applicatAe in Ihe UK arKI Republic ol IrelwKI (FRS 102)- leffe¢ti¥e l Jwry 2019). The Charity is a Public Benefil Entity as defined by FRS 102. TIE Charbty has tsken advanlage of pro¥lsions in ts SORP for dwitE5 not to prewe a SlaterrEnt of Cash Flows. financial Staten￿ts are prepare(I is the fvnthonal cu￿er￿ of ts Charity. Monetary mounts in these fiTrancial siatthrts are [OLw￿ to the ￿areSt £. Trt financial $talemerts ha* been prepared uThJer the hi$loFical rtht eonveniion. Imodthed to indude the revaluab'on of freehold kyoperbes and lo include investmenl propeitw #r￿ certain fin•n¢ial iffytruments al fair valuel. The principal accounling Oicies adopled are set oul below. 1.2 Golng concem At the time ol approviry ts fina￿101 5tstements. tr* Trustees ha¥e a rea$(Thb￿ eX￿oI10n that the Charity has adequate resources to conts.n4￿ in operalional exislence for Ihe foreseeable future. ThJ5 the Ttustees continue lo adopl the goirs cmm basis of accLxJnling in preparirwj the financial staterrents. 1.3 Charltsble funds Unrestricted funds are availth for use at the ¢Ssueliw of ts Totslees in fwtherance of tsir charitable obiectives. Restricted fuThJs are $￿tect to speofic (yJrKJilions by donrys as to lvyw Ilw may be used. The Pu￿05e$ aTh uses of the restricted frJ¥J5 are sel out in the notes to financial statements. Endowment fv￿ls are SLWt to ¢(￿ltionS by dryw)rs Ihat capital musl be mainlain8d by t Chaity. 1.4 Incomg Income is recognised vthen the Chanty enliued to il after any perfomiance coTrJil1c￿ have been met. the amounts can be measured ￿Irdbty, il is probats￿ t￿1 inc(Th v*ll be received. Cash donations a￿ recognised on recapt. Ottw donatitxs are reeijgnised once the Charity has been noliffied of Its donation. unk5s perfomB￿ cOndrti¢Y￿ require defe￿al of Ihe amount. Income tax recoverable in relation lo donalwJn¥ re¢eNed LThJer Grt1A￿j or deeds of covenant 15 recognised al the tsme of the donation. Legacies are recognlsed on ￿lpt or 01￿19e If the Charity has f*en r￿lfred of an impending distribution, the amount 1$ kno￿, arKI ￿e￿ipl is ext¢¢led. If ts amnl is not krw. the kgacy is treaieil as a tontingent asset. FELIXSTOWE AREA COMMUNITY TRANSPORT LTD FACTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcle8 (Contlnugd> l.S Expendltur• Expenditu￿ Is ￿e0gnIsed once there is a Segal or eMStruct￿ obloation lo transfer economic benefft lo a third party. it is probatAe that a transfer of eeonomic benefits *ryll be required in setuement. artt1 the amount of the obligaliffi can be ￿EasUred reliably. ExperKliture is dassified by a¢livity. The Costs of eath aCtr￿ty are made up of the total of direet e05ts and sha￿d costs. indudFng $￿port costs involved in undertakn"r#J eath acb"vty. Direct costs attributable lo a single activlty a￿ all￿ale{l diredty to that activty. Shared ￿$ts *thich ctY*ib￿e lo more than one acliwty and support costs N*tlch are not attnbulable lo a swKJle aCtI￿ty are app)itioned bet￿n Ihose actt"vil*s on a basis consislenl the use of resources. Central stsff costs a￿ allocated on the basis of time spent. and deprecialion tharges are alk￿ed on Ihe pwtion ofthe a55el's I￿e. 1.6 T•nglble Ilxed ass•ts Taryible fixed assets a￿ inltsaty at ¢)xl aThl sutsseq￿ nwswed al cost or valuation, net ol depEciation and any impaim*nt losses. OepTecith'pn 1$ reco9nised so as to V4Tite off eosl or valualion of assets less Iheir residual val￿$ over their uselul lives on the followirwj bases.. Leasettcdd la￿ and tMJiklwYJs Fixtures and fitb'ngs Motor vehide$ S year straight lir* 5 year straight line 5 year straight line The gain or loss arising on Ihe disposal of an a55et is deterrrmwl as Ihe drfterern* bei*en the sale prc¢eeds and the c•Thyiw value of Ihe asset. 8nd 1$ reets)nised in the statement ol finartial actmlies. 1.7 Impalrnwnt ol Ilx•d •ss•ts At each reporlir¥J end dale, the Charity reviews ts co￿￿r￿j anh)unts ol its tarvjible assets to detemine wheiher there 1$ any Indi￿110n that those assets have suffered an impaim*nl loss. If ary suth indicab exists, the recoverable amount of tr* asset is e51wnaled in order to delermire the extenl ol the irrpaim￿nI loss {if any). 1.8 C•$h and •qulvalwts Cash and cash equivalents indL*Je cash in hand. deP￿.IS at call V•ith banks. other $hort-term liquid investments with W￿1￿31 matun.ks of Itwee M￿th$ or less. arml bank overfrafts. Bank ovefdrafts are shovm within borrowiry in ¢urrent liats"1￿.e$. 1.9 Flnanclal Inslrum•nl8 The Ch8rity has elected to the wovtsions of Sedion 11 'Basi¢ Financial InStruff￿ts' and Section 12 'Other Finan¢Tral Instrwwts Issue5. of FRS 102 to all of its ffinanrial insIru￿ents. Finanryal instruments are recognised n the Chathys balartt slEa the Charity becomes paty to the contraclual provisions of the ins1n￿ent. Finanaal assets and liabililies are offset. V•ith the net amounts presented in the financial statements. when there is a legalty enforce8￿e right to set off the reco9nised amounts thwE is an intention 10 settle on a net basis or lo realise ts asset and Sett￿ the liabilty sKTrJllaneousfy. FELIXSTOWE AREA COMMUNITY TRANSPORT LTD FACTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles (CoThtlnu•dl &￿1¢ financlalassets Basic financAal assets. Ind￿ye debtors aryl cash and bank balaw, are inilialty ￿￿aSured al tr•ft$ath￿ price inctuding transaction ￿sts and are 5ubsequentty Carried at amortised cost u*ng Ihe effective inleresi melht*J unless Ihe arrangen￿nt eonslilutes a finaNiry transath"on. wthere the transaction is measu￿￿ al the present value of ts fuiure receipls discounted at a market rate of interest. Financial asset$ dassifted as receivabfe viilhin one year are Tr)t arn￿11$ed. Baslc fft￿nclal Il•billfyes Basic r￿n¢la1 liabilit￿s, indudww ueditors aThS bank loans are iiytsalty recogrmsed al trartsaelion price unless the arraroement constitutes a financ4NJ Iransaclion. the debt instrument is ff*asured at the present value of the fulure payments discounted al a market rate of inleresl. Financial h'abihlies dassified as payable thin ort year we amortised. Debt ir6truwits are sLknseq￿nty al amortFed cost. usirwj the effe(kne interest raie melhod. Trade ¢￿d￿0￿ are obligations lo pay for goods w services Ihat ha￿ be￿ acquired in ts Ordinary course of operations from suppliers. Amounts payable are dassrfEd a5 awrent liatylities if payment is due vhlhin one year or less. If not. they are p￿sented as non-current liabilibes. Trnde e￿drt￿S a￿ recognised inib'ally at trar￿actiOn price and subsequenlly measu￿￿ al ￿M)lISed cost the effec*ve interest method. Derecognltlon olfinancw liabil Financial liabilities are derecognised Vthten Chanty'$ contraaual obl*34i¢)ns expire or aR distharged or cancelled. 1.10 Employoe bonofits The cost of any unused holKlay ertill￿￿ 15 r¢¢wMsed in tr* ￿rIOd in vknich the empl¢)yee's seThtts are ve(J. Temiinalicffl benefrts are rwntsed immedi*ly as an expertse the Chariy is demonstrabty commthed ID lemiinate the emptyw)t of ￿ ￿T￿oyee orto WOVKJe lemiinalicffi be￿. 1.11 Roll19m￿l beneffts Payments to defined cOn1r*th￿ feti￿n￿rt benefft sr**mes are charged as an expense as tlw tsll due. Crltlcal accountSng estlrn•tes and Judgemgnts In the applicaliw of tre Charit￿$ acoyjntiry pohaes. ts Tnjstees are requwed to make ludgemerts. estimates and assumpb.ons abThA the canwr¥J amount of assets arnl liaty'lilte5 that are not readity apparent from other sourr£s. The estimates 8fKI assocoted 85sumph'¢M are based on histovical expenen¢x and other faclors that are ￿nSIdered to be relevant. Actual resulis may dffler from trw estimates. The est￿￿$ arKI undetying assuryilioAs ￿ Te¥ie*td ￿ an (Mwing basis. Revisions lo accounting eslimales are recOgr￿Sed in ￿ periTrJ in estimate 15 revised v*1*￿ the revision affects only that period. Of ￿ the perifyj of the fevbsbon and futfft peiitid$ V4**re tr* revision affeds t**th currenl and future peno(J$. FELIXSTOWE AREA COMMUNITY TRANSPORT LTD FACTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 D¢)natlons and legxles Unrestrid•d Unreslrlct•d Ro$￿tted funds funds funds Total 2024 2023 2023 2023 Donations grfls Grants Membgr¥hip fee$ 18.570 21.076 3.102 12.580 24,76S 1,989 31.5LK) 44,080 24.765 1,989 42.748 39,334 31.500 70,834 10- FELIXSTOWE AREA COMMUNITY TRANSPORT LTD FACTS NOTES TO THE FINANCIAL STATEMENTS ICONTIMUEDI FOR THE YEAR ENDED 31 IIARCH2024 2023 11210 71.Jn 12.7JO 7.1 67.291 FELIXSTOWE AREA COMMUNITY TRANSPORT LTD FACTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 ¥*p•.LrfVX'- . Oth•r incom Total Unrestri¢ted fijnds 2024 2023 Net gain on disposal of Wgrbk frKed assets 6,483 Charitable activities Charitable Charitable Expenditure Expendrture 2024 2023 Slaff costs Depre