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← Campaign For Better Transport Charitable Trust

2024-03-31-accounts

CAMPAIGN FOR BETTER TRANSPORT CHARITABLE TRUST

Charity No. 1101929 Registered number: 04943428

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

TRUSTEES REPORT – for the year ending 31 March 2024

Trustees John Stewart, Chair (to 25 July 24)
Shamit Gaiger OBEChair (from 25 July 24)
David Buchan, Treasurer
Adrian Berendt
Richard Goldson
Charlie Hamilton
Ian Howes (resigned 12 April 2024)
Mark Walker
Company registered 04943428
Charity registered 1101929
Registered office Unit 303, 164/180 Union Street,
London, SE1 0LH
Chief Executive Officer Paul Tuohy
Auditors Hawsons Chartered Accountants,
Statutory Auditor,
32 Duncan Close,
Northampton,
NN3 6WL
Bankers Unity Trust Bank, Four Brindley Place,
Birmingham, B1 2JB.
Solicitors Bates Wells, First Floor, 10 Queen Street
Place, London EC4R 1BE

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CHAIR’S INTRODUCTION

This year has been one of significant progress. Our research has been well-received, our campaigning impactful, our political lobbying influential and our profile very visible. It has been backed up by excellent work from our finance and administrative team and by the establishment, for the first time, of an income generation team. We are in a good position to influence the transport thinking and policies of the new Government at a national, regional and local level.

This will be my last introduction as Chair as I will shortly be stepping down after six years in the role. I am confident that the organisation is in a position to go from strength to strength.

I would like to thank our Chief Executive, Paul Tuohy, and all the team for their hard work and commitment which has made for another successful year.

I commend this report to you.

John Stewart

Chair (to 25 July 24)

Campaign for Better Transport

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STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity is a company limited by guarantee. Its constitution is contained in its Memorandum and Articles of Association. People who are appointed to be trustees of the charity are, in law, directors of the company and charity trustees.

Trustees are elected and co-opted under the terms of the Articles of Association. One-third of the trustees are required to retire by rotation but are eligible for re-election. There are a minimum of three trustees in office at any given time - and no maximum number. Trustees are elected through an open recruitment process. Trustee candidates shall normally be invited to an interview comprising three Trustees and the Chief Executive, and, if found suitable, be presented to the next general meeting for appointment.

Trustees periodically undertake a skills audit to review the skills the trustees have against the skills needed for effective governance of the charity. The results of the skills audit help to inform the recruitment of new trustees. The duties of the trustees include giving direction to the organisation and ensuring appropriate governance over people, finances, resources, legal obligations, accountability and independence of the charity. The day-to-day management and running of the charity is the responsibility of the senior leadership team, headed by Paul Tuohy, Chief Executive.

KEY MANAGEMENT REMUNERATION

The remuneration of the Chief Executive and all staff are reviewed annually and normally increased to reflect a cost-of-living adjustment, if organisational income allows. The Trustees benchmark against pay levels in other charities on a regular basis.

OBJECTIVES AND ACTIVITIES

The objects, as set out in the Memorandum and Articles of Association, are:

Our vision is for all communities to have access to high quality, sustainable transport that meets their needs, improves quality of life and protects the environment.

Our mission is to make sustainable transport available to all and encourage its use.

STRATEGY

An awayday was held during the year to review the strategy and facilitated by a Trustee of the charity with expert skills in this area.

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Three strategic objectives underpin the programme of work over the next five years to accelerate the shift to sustainable transport:

Strategic Objective A: Increase the proportion of journeys made using sustainable transport. Increase provision and create the right political and fiscal environment to make sustainable transport the affordable and desirable option.

Strategic Objective B: Expand and transform the bus and tram network. Secure a reliable, affordable, safe and frequent bus and/or tram service for more communities.

Strategic Objective C: Improve the rail network for passengers and the country. Make rail tickets more affordable, with more services and more choice. Connect more communities, with a greener railway that provides better value on investment.

We are an organisation that sets the agenda, influences national and local transport policy and delivery, and finds solutions to the future challenges that affect communities and people’s lives. We are an expert voice with a strong track record of making transport more accessible, integrated, seamless, connected and affordable so that it meets the needs of communities and is sustainable.

Our campaigning to achieve change is evidence based. We are pragmatic and solutions focused. We believe we can deliver greater impact through stronger partnerships with common goals that improve the transport system to make it more sustainable and deliver improved access to jobs, education, services and facilities and all-round improvements in quality of life. We shape the future of mobility by collaborating with national and local government, developers, employers, operators, NGOs, and communities to make transport better, greener, healthier and affordable. We will provide advice, support and guidance for local transport authorities, as well as recommendations for national government.

Alongside our objectives, there are four strategic enablers that are the focus of internal changes to ensure we are successful in the future:

ACHIEVEMENTS AND PERFORMANCE

Here are some of the things we achieved, with the help of our supporters, in 2023-4.

Boosting buses

We successfully campaigned for more Government investment in buses, with an additional £300 million announced in May 2023. And – helped by our supporters writing to their MPs – we succeeded in getting the popular £2 cap on bus fares extended again. What was originally a three-month scheme will now run for at least two years, and we are calling for it to be made permanent.

We also worked to raise awareness of the £2 fare cap. Fifty-four per cent of people are aware of the cap, and 40% of them say they use the bus more because of it. This had a positive effect on the viability of bus services – for instance we learnt that a third of North

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Yorkshire bus routes are no longer at risk of being cut thanks to the £2 bus fare cap and additional funding that we campaigned for.

There was further hopeful news when the annual bus statistics for the year ending March 2023 were published, showing a 19 per cent increase in passenger journeys.

Our work to boost buses was shortlisted for Campaign of the Year at the National Transport Awards and the Charity Awards.

Reforming rail for a fare future

This year we published a major report on reforming rail fares and ticketing. Whilst the rootand-branch reform that is needed is still at the early stages, we saw good progress on some of our individual asks. 'Pay as you go' pilot schemes, allowing passengers to pay for rail travel by 'tapping in and out', will run in the West Midlands and Greater Manchester.

Transport for London is trialling running off-peak fares all day on Fridays. The Government and rail companies ran a second Great British Rail Sale, following the success of the first which we called for. We learnt that 1 million flexible/part-time season tickets, which we also campaigned for, have been sold.

The Office of Rail and Road consulted on whether to reduce the train ticket booking window from 12 to eight weeks, but dropped the idea after we objected. We are now calling for the booking window to be expanded further.

We were pleased in February when a draft Rail Reform Bill was at last published – a step towards the major reform that we have been calling for.

Growing the railway

We want to see many more communities connected to the rail network. So, years ago, we successfully campaigned for the Government to set up a New Stations Fund. This year, more new stations opened – in Reading, Kent and Bristol – supported by this New Stations Fund, and another got the go-ahead in Devon.

Funding has also been awarded to look into options for reopening the Leamside Line, which we have identified as a top-priority reopening, connecting communities which have had no train services since the 1960s.

London’s Day Travelcard: saved!

London’s Day Travelcard is a paper ticket which makes it simple and affordable for people to travel around the capital by train, tube and bus. So, when the Travelcard was threatened, we started a campaign to save it.

We asked our supporters to write to their local councils and MPs, and to tell us why the Travelcard matters to them. We met with the Rail Delivery Group, train operators, Transport for London and Ministers in the Department for Transport. We got businesses and tourism operators involved in our campaign, and we spread our message in the media, including the BBC, ITV and The Standard.

Our multi-faceted approach was successful, and the decision to reverse the withdrawal of the Day Travelcard was announced in October, bringing relief to the millions that rely on the card every year.

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Local progress

Other local areas saw progress too, such as Cambridgeshire and Peterborough, where we hosted a Rural Bus Summit, bringing key organisations together to understand how the transport needs of the area can be met. The area will soon have more bus routes, more frequent services, and cheap travel for under-25s, all of which we supported.

The Government’s Bus Centre of Excellence, which we called for and helped to shape, began the work of supporting and upskilling bus professionals in local authorities. We helped by running a workshop for local councillors.

Celebrating green transport

As a charity, we don’t just work to improve sustainable transport, but to encourage more people on board. So we were glad to assist the rail industry in researching and promoting just how much carbon can be saved by switching from car to train. For instance, switching just one, average car journey to the train saves the same carbon as boiling a kettle up to 455 times!

We also ran the first ever Better Transport Week, a national celebration of everything that is brilliant about sustainable transport. With events encouraging people to try public and shared transport, walking and cycling, the week was such a success that we have decided to make it an annual event – look out for Better Transport Week 2024!

Communications

We continued to promote sustainable transport – and call for it to be improved – across national and local media. We were featured in all of the main national media outlets, including 24 times on the BBC’s news website (double last year’s figure), and we had hundreds of pieces of coverage on both TV and radio. Altogether we achieved more than 4,700 pieces of media coverage, creating 12 billion opportunities to see our messages.

We were equally active across our social media channels, gaining more than 2,500 new followers, and increasing the number of times people saw our posts by 56 per cent.

Policy and external engagement

Throughout the year, we have continued engaging with key government departments such as the Department for Transport and HM Treasury and responding to relevant consultations and inquiries. These included submissions on ticket office closures, rail reform, bus franchising, rural mobility and roads investment. We also organised an event on increasing the uptake of electric vehicles at the Labour Party conference.

We published research on the impact of sustainable transport on health, businesses and the economy, as well as major reports on rail fares and ticketing reform, and the impact of domestic aviation. Our research had real reach and impact; for instance, last year’s research on how a pay-as-you-drive model of motoring taxation could be implemented was quoted by the TUC and the Centre for Policy Studies, and we went on to establish the Pay-As-YouDrive Forum, bringing together 35 organisations to advance influencing on this subject.

We promoted our research and policy recommendations through speaking at and participating in external events and roundtables, organised by, for instance, the London Transport Museum, Transport Planning Society, Green Alliance and New Statesman.

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We continued to engage external stakeholders regularly and amplified our messaging by working collaboratively with like-minded organisations through the Sustainable Transport Alliance, the Healthy Air Campaign and the newly established Low Traffic Future Alliance.

FUTURE PLANS

In 2024-5, we will continue to campaign for all communities to have access to high quality, sustainable transport that meets their needs, improves quality of life and protects the environment.

As the General Election approaches, we will publish our own manifesto for transport, and encourage our supporters to write to their MP candidates about the importance of sustainable transport. After the election we will meet with the team in the Department for Transport, as well as with MPs new and old, to discuss specific measures to improve transport. We will also increase our engagement with local authorities.

As well as continuing our core campaigns for good, affordable public transport, we will ramp up our work on freight, international rail, and trams. We will publish papers on the future of HS2, how rail should be reformed, and how bus services should be funded. We will campaign – along with allies – for greener travel to football matches, both for players and fans.

We know that public transport is not suitable for some journeys; we will carry out research on how social care workers (who travel between clients' homes) can best be supported – via grants and other means – to use greener vehicles.

Following the success of Better Transport Week 2023, we will run another Better Transport Week in June 2024, to celebrate sustainable transport and encourage more people on board.

TRANSFORMING OUR CHARITY

This has been an exceptional period in terms of continued impact and influence as the national transport charity, during a year of transformation and growth.

Now at the end of the second year of a transformational £1 million grant from the Foundation for Integrated Transport, the charity is in a much stronger position against all its key indicators. This has helped towards establishing a firmer foundation of operational resilience from which to move forward.

In an unprecedented year of political turmoil, our enlarged team has been able to strategically position the charity with those in power nationally and regionally. We have gained the respect of key ministers, including Huw Merriman and Mark Harper, who have regularly sought advice from the charity on key policy issues; and significant headway has been made with the Labour Party who have responded well to our recommendations and continue to actively engage with us.

As projected in our transformation plan, this year has focused on building our fundraising capacity. The recruitment of an all-new fundraising team has been a step-change for the charity, placing strategic impetus on income generation in recognition of the fact that all work starts in generating income for the cause.

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For the first time the charity now has the capacity to convene the sector, stakeholders and supporters through events. This year saw the inaugural Better Transport Week which engaged hundreds of sector stakeholders in celebrating the best of sustainable transport across the country and attracted the attention and participation of senior politicians.

Supporter and donor engagement has also been a priority through the year. We are fortunate to have a loyal base of nearly 20,000 supporters and donors and this year we were able to revitalise our relationships with many of them through in-person and online events. Hearing examples of local sustainable transport, good and bad, serves to inspire and remind us of how important our work is now and into the future.

The appointment of a fundraising team has meant we have been able to broaden the charity’s reach into areas of funding it has not previously explored. It is strategically important for the charity to have a mixed portfolio of income, and this year we have been able to expand our fundraising activity to include trusts and foundations, legacy marketing and corporate in addition to individual giving from our supporters. In this respect we have shared our mission and the importance of better transport with more prospective funders and donors than ever before.

We know transport is a ‘Cinderella’ issue; it has the greatest impact on climate change but receives a disproportionately small amount of funding compared to other environmental causes. There are few grant-makers who include transport within their giving strategy, and the cost of living crisis means we are competing for the generosity of our donors. We are working hard at raising the profile of our work and its importance across the sector and this is already having a positive impact with gifts being made in response to radio interviews, appeals and other interactions. There is more work to be done in the coming year to amplify our charitable voice.

The key priority for the Transformation Grant 2022-25 was to build capacity across the team including external affairs, campaigning, research, local authority engagement, communication and marketing, and to establish an income generation team. The planned expansion of the charitable team was completed in September 2023.

Amongst the things we said we would do was:

Some of what we’ve done includes:

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ROLE OF VOLUNTEERS

The charity occasionally makes use of volunteers. There is a volunteer policy that sets out the charity's responsibilities in this relationship. The volunteers are managed by the head of the team they work in.

FINANCIAL REVIEW AND FUNDRAISING

2023-24 was a year of transition when we entered into the second year of the transformational grant from the Foundation for Integrated Transport (FIT).

Income during the year was stable but without the legacies or major donor donation that we saw during 2022-23.

During the year we completed the recruitment of a full staff team for Income Generation, and we expect to see the results of that investment during 24-25 onwards. This was originally planned for the previous year, and the surplus shown for 2022-23 offsets the deficit for 202324.

With staff numbers now at 15 (2023: 8), the total expenditure has increased by 45% with various activities being undertaken that were previously not possible.

Reserves Policy

The reserves policy set in April 2021 stated that the charity should aim to hold unrestricted reserves equivalent to a minimum of six months’ expenditure with a maximum of 12 months. This was reviewed during the year and remains unchanged. However, the trustees note that this would only be achievable with increased surplus each year, and whilst the charity is growing it remains an aim.

However, trustees recognise that fluctuations in the level of fundraised income, in particular, mean that the level of reserves will inevitably vary. The trustees are seeking ways of ensuring greater stability over income and meanwhile accept that, while they aim to hold six months’ expenditure as reserves in order to cover this risk, in practice three months’ expenditure is sufficient to cover the charity’s liabilities.’

The minimum amount of unrestricted reserves should not fall below 3 month's forecast expenditure in order to cover any liabilities that the charity may have , and as at 31 Mar 2024, the unrestricted reserves of £397,186 represent approximately 5 months of forecast expenditure for 2024-25.

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The restricted reserves of £10,450 relate to income received for a project that is ongoing and expected to be completed by early 2024.

Principal Risks and Uncertainties

The trustees consider there are no material uncertainties about the Charity’s ability to continue as a going concern.

Continued applications for long-term grants will enable the charity to grow in line with the strategy, and the appointment of a fundraising team during the year will also help to strengthen and diversify the income streams.

Cashflow forecasts and current risks are reviewed by trustees on a quarterly basis and reviewed and updated as necessary.

STATEMENT OF PUBLIC BENEFIT

The charity confirms the trustees have complied with the duty in section 17 of the Charities Act 2011, to have due regard to public benefit guidance published by the Commission in determining the activity undertaken by the charity. The charity’s aim is to bring benefits to all sectors of the public by influencing transport policy to improve access to public transport and reduce the need to drive, allowing a better quality of life and an improved environment.

There is no detriment or harm associated with our activities. The beneficiaries of our activities are all members of the public, regardless of geographical location and ability to pay, as we do not charge any fees to any members of the public. Our work benefits those who are socially excluded or isolated, and those whose access to education and employment is hindered, as it seeks to address transport poverty and improve connectivity. It benefits all by seeking to address the causes of pollution from transport that impact on health. There are no private benefits of our work, beyond the reasonable compensation of our staff for their work.

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The trustees (who are also directors of Campaign for Better Transport Charitable Trust for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

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The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The report of the Trustees has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

ON BEHALF OF THE BOARD:

………………………….. Shamit Gaiger OBE – Chair

06/11/2024

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Independent Auditor’s Report to the Members and Trustees of Campaign for Better Transport Charitable Trust

Opinion

We have audited the financial statements of Campaign for Better Transport Charitable Trust for the year ended 31 March 2024, which comprise the Statement of Financial Activities, Balance Sheets, Statement of Cash Flows and notes to the financial statements, including 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 and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

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.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

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. The trustees are responsible for the other information contained within the annual report. 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. 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

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in the course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

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 trustee’s report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on pages 9 and 10, 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.

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Auditor’s responsibilities for the audit of the financial statements

We have been appointed auditor under the Companies Act 2006 and section 144 of the Charities Act 2011 and report in accordance with those Acts.

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. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The charity is subject to laws and regulations that directly and indirectly affect the financial statements. Based on our understanding of the charity and the environment it operates within, we determined that the laws and regulations that were most significant included FRS 102, Charities Act 2011, Health and Safety regulations and employment law. We considered the extent to which non-compliance with these laws and regulations might have a material effect on the financial statements, including how fraud might occur. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override on controls), and determined that the principal risks were related to the posting of inappropriate accounting entries to improve the charity’s results for the period, and management bias in key accounting estimates. In addition to this, we have also identified the following principal risk areas:

Audit procedures performed by the engagement team included:

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Because of the inherent limitations of an audit, there is a risk that we will not detect irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company’s members and its trustees 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 charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Haweone

David Owens

Senior Statutory Auditor

For and on behalf of Hawsons Chartered Accountants Statutory Auditor Jubilee House 32 Duncan Close Moulton Park Northampton NN3 6WL

12/11/2024

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Campaign for Better Transport Charitable Trust Statement of Financial Activities (including the Income Expenditure Account) For the year ended 31st March 2024

Note
Income from
Donations and legacies
2
Charitable activities
3
Investments
4
Total Income
Expenditure on
Raising funds
5
Charitable Activities
6
Total Expenditure
Net Movement in Funds for the year
Reconciliation of Funds
Total funds brought forward
Total funds carried forward
13		 Unrestricted
Funds
£
623,421
30,680
11,297
665,398
233,109
651,935
885,044
(219,646)
616,832
397,186		 Restricted
Funds
£
-
19,330
-
19,330
-
17,100
17,100
2,230
8,220
10,450		 Total
Funds
2024
£
623,421
50,010
11,297
684,728
233,109
669,035
902,144
(217,416)
625,052
407,636		 Total
Funds
2023
£
874,725
99,936
4,684
979,345
45,148
578,361
623,509
355,836
269,216
625,052

The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities.

The notes on pages 19 to 24 form part of these financial statements.

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Campaign for Better Transport Charitable Trust Balance Sheet at 31st March 2024

Note 2024 2024 2023 2023
£ £ £ £
Fixed Assets 10 - -
Current Assets - -
Debtors 11 65,584 69,215
Cash at bank and in hand 16 395,574 611,815
Creditors: Amounts falling due 461,158 681,030
within one year 12 (53,522) (55,978)
Net Current Assets 407,636 625,052
Total Assets less Current Liabilities 407,636 625,052
Creditors: Amounts falling due
after more than one year - -
407,636 625,052
The Funds of the Charity
Unrestricted Funds 397,186 616,832
Restricted Funds 13 10,450 8,220
Total Charity Funds 407,636 625,052

The financial statements were approved by the Board of Trustees on and signed on its behalf by:

Shamit Gaiger OBE David Buchan
Chair Treasurer
06/11/2024 06/11/2024

The notes on pages 19 to 24 form part of these financial statements.

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Campaign for Better Transport Charitable Trust Statement of Cash Flows for the year ended 31 March 2024

Note
Cash Flows from Operating Activities
Net Cash from Operating Activities
15
Cash Flows from Investing Activities
Interest received
4
Net Cash provided by Investing Activities
Change in cash and cash equivalents in the year
Cash and Cash Equivalents at the
Beginning of the Year
Cash and Cash Equivalents at the
End of the Year
16		 2024
£
(227,538)
11,297
11,297
(216,241)
611,815
395,574		 2023
£
361,350
4,684
4,684
366,034
245,781
611,815

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Campaign for Better Transport Charitable Trust

Notes to the Financial Statements for the year ending 31st March 2024

The charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up the liability in respect of the guarantee is limited to £1 per member of the charity.

a) Basis of Preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities : Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019) - Charities SORP (SORP 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Campaign for Better Transport Charitable Trust meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant policy note(s).

Reconciliation with previously General Accepted Accounting Practice: in preparing the accounts, the Trustees have considered whether in applying the accounting policies required by FRS102 and the Charities SORP FRS 102 the restatement of comparative items was required.

b) Going Concern

After due consideration of all relevant factors, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.

c) Incoming resources

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably. Where income has related expenditure, the income and related expenditure are reported gross in the Statement of Financial Activities.

Income from legacies is taken on a case by case basis at the earlier of the date on which: the charity is aware that probate has been granted, the estate has been finliased and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distributin is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution.

Donations, grants and gifts are recognised when receivable. In the event that a donation is subject to fulfilling performance conditions before the charity is entitled to the funds, the income is deferred and not recognised until it is probable that those conditions will be fulfilled in the reporting period. Income from Gift Aid tax reclaims is recognised for any donations with relevant Gift Aid certificates recognised in income for the year. Any amounts of Gift Aid not received by the year-end are accounted for in income and accrued income in debtors.

Interest on deposit funds held is included when receivable and the amount can be measured reliably by the charity which is normally upon notification of the interest paid or payable by the bank.

d) Resources expended

All expenses are accounted for on an accruals basis. Wherever possible costs are allocated directly to the appropriate activity; other costs common to all activities are apportioned between those activities on the basis of the proportion of staff time spent during each year in connection with each activity (see Note 6).

Fundraising expenditure comprises costs incurred in asking people and organisations to donate to the charity's work. This includes the cost of advertising for donations and the staging of special fundraising events.

Expenditure incurred in connection with the specific objects of the charity is included under the heading Charitable Activities.

e) Donated Services Donated services are recognised as income when the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably.

f) Interest Receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably.

Judgements and key sources of estimation uncertainty g)

In preparing the financial statements, the Trustees have considered how best to apply the Charity's accounting policies and make estimates in the preparation of the financial statements, where relevant. The Trustees have not made any significant estimates in these financial statements.

h) Pension costs

The charity operates a defined contribution scheme with a charity contribution of 8% of salary costs. The cost of providing pensions for employees is charged to the Statement of Financial Activities in the year in which the contributions are paid.

i) Value Added Tax (VAT)

19

Campaign for Better Transport Charitable Trust

Notes to the Financial Statements for the year ending 31st March 2024

j) Operating Leases

The charity has no current operating leases.

Designated funds comprise funds which have been set aside by the trustees for particular purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund.

l) Taxation

Income from donations and legacies
Core grants and donations
Prior Year
Core grants and donations
Income from charitable activities
Research and Education
Prior Year
Research and Education
Investment Income
Deposit account interest
Costs of raising funds
Direct staff costs
Direct other costs
Support costs
Analysis of support costs
Staff costs
Premises costs
Office costs		 Unrestricted
Funds
£
180,122
17,750
35,237
233,109		 Unrestricted
Funds
£
623,421
Unrestricted
Funds
£
874,725
Unrestricted
Funds
£
30,680
Unrestricted
Funds
£
50,266
Restricted
Funds
£
-
-
-
-		 Restricted
Funds
£
-
Restricted
Funds
£
-
Restricted
Funds
£
19,330
Restricted
Funds
£
49,670
Unrestricted
Funds
2024
£
11,297
Total
2024
£
180,122
17,750
35,237
233,109
2024
£
5,161
12,097
17,979
35,237		 Total
2024
£
623,421
Total
2023
£
874,725
Total
2024
£
50,010
Total
2023
£
99,936
Unrestricted
Funds
2023
£
4,684
Unrestricted
Total
2023
£
30,607
5,941
8,600
45,148
2023
£
1,668
1,349
5,583
8,600

2 Income from donations and legacies

3 Income from charitable activities

20

Campaign for Better Transport Charitable Trust Notes to the Financial Statements for the year ending 31st March 2024

6 Cost of Charitable Activities

Cost of Charitable Activities
Research and Education
-
Research and Education		 Activities
undertaken
directly
2024
£
536,959
Activities
undertaken
directly
2023
£
449,105		 Support
Costs
2024
£
132,076
Support
Costs
2023
£
129,256		 Total
Funds
2024
£
669,035
Total
Funds
2023
£
578,361

Cost of charitable activities of £669,035 (2023:£578,361) is represented by £651,935 (2023: £489,160) of unrestricted funds and £17,100 (2023: £89,201) of restricted funds.

Analysis of support costs

Staff costs
Premises costs
Office costs
Governance costs		 2024
£
47,616
29,617
44,018
10,825
132,076		 2023
£
53,417
17,922
50,342
7,575
129,256

Support costs are the costs of central management. These costs are apportioned to activities based on the staff costs and allocated overheads in proportion to allocated staff costs.

Governance costs include audit fees of £8,625 (2023:£7,575),

Company Secretarial costs of £490 (2023 £Nil) and Trustee related costs of £1,710 (2023: £Nil).

7 Net income is stated after charging

Pension costs
Fees payable to the Charity's auditor in respect of:
Audit
8
Staff Costs
Wages and Salaries
Social Security Costs
Pension Costs		 2024
£
100,194
8,625
2024
£
522,133
47,148
100,194
669,475		 2023
£
65,586
7,575
2023
£
337,260
29,032
65,586
431,878

Pension Costs include £45,231(2023:£31,656) salary sacrifice.

The average number of persons employed by the Charity during the year was as follows:

2024
No.
Research and Education
10
Income Genreation
4
Support
1
15
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
2024
No.
in the band £80,001 - £90,000
-
in the band £90,001 - £100,000
1		 2023
No.
9
-
1
10
2023
No.
1
-

Key management personnel comprise the Trustees and the Chief Executive. The total employee benefits including employer pension contributions of key management personnel for the year were £103,940 (2023: £94,707).

21

Campaign for Better Transport Charitable Trust Notes to the Financial Statements for the year ending 31st March 2024

9 Trustees' remuneration and expenses

The Trustees do not receive any renumeration or other beenfits for their duties (2023: none).

Expenses of £nil (2023: £nil) were reimbursed to 0 (2023: 0)Trustees in respect of travel, accommodation and governance costs.

10 Tangible Fixed Assets

At 31 March 2024 the charity held no tangible fixed assets (2023: none).

11 Debtors

Due within one year
Trade debtors
Other debtors
Prepayments & Accrued Income		 2024
£
27,154
10,897
27,533
65,584		 2023
£
47,000
9,520
12,695
69,215

12 Creditors: Amounts falling due within one year

Trade creditors
Other taxation and social security
Other creditors
Accruals		 2024
£
12,470
13,358
8,711
18,983
53,522		 2023
£
12,755
17,456
6,954
18,813
55,978

13 Statement of Funds

Statement of funds - current year
Unrestricted Funds
General funds
Restricted Funds
Parliamentary Reception (2023)
Better Transport Week
Carbon Comparison Project
Social Care projecy
Total of Funds		 Balance as at
01-Apr-23
£
616,832
8,220
-
-
-
8,220
625,052		 Income
£
665,398
0
5,000
1,545
12,785
19,330
684,728		 Expenditure
£
(885,044)
(8,220)
(5,000)
(1,545)
(2,335)
(17,100)
(902,144)		 Balance as at
31-Mar-24
£
397,186
-
-
-
10,450
10,450
407,636

Where a restricted project has been overspent, the balance is taken from unrestricted income. We received funding for Better Transport Week and the Parliamentary Reception (2023). We were also commissioned for specific projects.

Statement of funds - prior year
Unrestricted Funds
General funds		 Balance as at
01-Apr-22
£
221,465		 Income
£
929,675		 Expenditure
£
(534,308)		 Balance as at
31-Mar-23
£
616,832

22

Campaign for Better Transport Charitable Trust Notes to the Financial Statements for the year ending 31st March 2024

Restricted Funds

Parliamentary Reception (2023)
House of Commons Event
Increasing Rail Travel
System Upgrades
Road Pricing
Total of Funds		 -
-
-
-
47,751
47,751
269,216		 8,220
7,450
7,000
5,000
22,000
49,670
979,345		 -
(7,450)
(7,000)
(5,000)
(69,751)
(89,201)
(623,509)		 8,220
-
-
-
-
8,220
625,052

During the year restricted donations were received towards an event in the House of Commons and a Parliamentary Reception due to be held in 2023.

We also received funding towards updating our IT systems and this is due to complete in 2023.

Road Pricing was a piece of work examining motoring taxation reform which is now complete.

We were also commissioned to conduct a media campaign and policy briefing and engage with business organisations to promote the benefit of increasing rail travel and reducing flying.

14 Analysis of Net Assets between Funds Analysis of net assets between funds - current period

Current assets
Creditors due within one year
Analysis of net assets between funds - prior period
Current assets
Creditors due within one year		 Unrestricted
Funds
2024
£
450,708
(53,522)
397,186
Unrestricted
Funds
2023
£
712,341
(55,978)
656,363		 Restricted
Funds
2024
£
10,450
-
10,450
Restricted
Funds
2023
£
(31,311)
-
(31,311)		 Total
Funds
2024
£
461,158
(53,522)
407,636
Total
Funds
2023
£
681,030
-55,978
625,052

15 Reconciliation of Net Movement in Funds to Net Cash Flow from Operating Activities

Net (defecit) / income for the period (as per Statement of Financial Activities)
Adjustments for:
Dividends, interests and rents from investments
Decrease in debtors
(Decrease) / Increase in creditors due within One Year
Net Cash (Used in) / from Operating Activities
16
Analysis of cash and cash equivalents
Cash at bank and in hand
Total cash and cash equivalents		 2024
£
(217,416)
(11,297)
3,631
(2,456)
(227,538)
2024
£
395,574
395,574		 2023
£
355,836
(4,684)
407
9,791
361,350
2023
£
611,815
611,815

23

Campaign for Better Transport Charitable Trust

Notes to the Financial Statements for the year ending 31st March 2024

17 Analysis of Net Debt Analysis of Net Debt - current year

Cash at bank and in hand
Analysis of Net Debt - prior year
Cash at bank and in hand		 At
01-Apr-23
£
611,815
611,815
At
01-Apr-22
£
245,781
245,781		 Cashflows
£
(216,241)
(216,241)
Cashflows
£
366,034
366,034		 At
31-Mar-24
£
395,574
395,574
At
31-Mar-23
£
611,815
611,815

18 Operating lease commitments

At 31 March 2024 the Charity had no commitments (2023: Nil) under non cancellable operating leases.

19 Capital commitments

At 31 March 2024 there are no capital commitments (2023: Nil)

20 Related party transactions

There were no related party transactions (2023:Nil)

24