Charity Registration Number: 1104037 Company Registration Number: 05113884 (England & Wales)
THE COMPASS TRAVEL TRUST LIMITED
TRUSTEES' REPORT AND
UNAUDITED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2024
THE COMPASS TRAVEL TRUST LIMITED
CONTENTS FOR THE YEAR ENDED 31 DECEMBER 2024
| Legal and Administratve Informaton | 1 |
|---|---|
| Trustees Report | 2 - 4 |
| Statement of Financial Actvites | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 - 9 |
THE COMPASS TRAVEL TRUST LIMITED
ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | C Chatield |
|---|---|
| W Gander | |
| C Card | |
| S Chatield | |
| Charity Registraton Number: | 1104037 |
| Company Registraton Number: | 05113884 |
| Charity's Principal Address | Compass Travel |
| and Registered Ofce | Pilgrim House |
| 51-63 St Dunstans Road | |
| Worthing | |
| West Sussex | |
| BN13 1AA | |
| Bankers | HSBC Bank plc |
| 16 Goring Road | |
| Worthing | |
| West Sussex | |
| BN12 4AW |
Page 1
Page I
THE COMPASS TRAVEL TRUST LIMITED
ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024
Trustees' Report for the year ended 31 December 2024
The trustees present their report and accounts for the year ended 31 December 2024.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply wth the Charity's Memorandum and Articles of Association dated 27 April 2004, the Charities Act 2011, the Companies Act 2006 and 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 (FRS 102) published on 16 July 2014
Structure, governance and management
The Charity is a company limited by guarantee, company number 05113884, incorporated on 27 April 2004. It is also a registered charity, number 1104037.
The trustees, who are also the directors for the purpose of company law, and who served during the year were:
C Chatfield W Gander C Card S Chatfield
The Board of Trustees meet as required through the year to deal with matters as they arise. The decision-making of the Charity rests, under its rules, with the Board of Trustees.
Trustee appointments are recommended by individual trustees and are approved by the Board of Trustees at their meetings. Newly appointed trustees are provided with such induction and training as considered necessary for the role within the Charity which they are undertaking.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £10 in the event of a winding up.
As part of the annual reporting process the trustees have identified the major risks to which the Charity is exposed, have reviewed these and ensured that systems have been established to mitigate these risks.
Page 2
Page 2
THE COMPASS TRAVEL TRUST LIMITED
ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024
Report of the Trustees for the year ended 31 December 2024, continued
Objectives, Activities and Achievements
The Charity's objects are to provide financial support to selected charitable ministries in Sussex, the United Kingdom and other parts of the world as the trustees may from time to time think fit and to fulfil such other purposes which are exclusively charitable according to the law of England and Wales and are connected with the chartitable work of the Charity.
During the year, funds were received from Compass Travel (Sussex) Limited and from other minor donations. These funds were used to support various charities which work in the United Kingdom, such as hospices and shelters for the homeless, charities working in other parts of the world, such as the Amen Trust, Oasis India Teaching Fund and Hope for Lugazi's African projects
Public benefit
Throughout the activities of the Charity, the trustees have had regard to the guidance issued by the Charity Commission on public benefit.
Financial review and reserves policy
There was a deficit on the unrestricted funds for the year of £327 leaving a balance of £804
The trustees ensure that donations are only distributed to suitable causes if there are sufficient funds available to do so. As such, no specific reserves are deemed to be required as there are no associated costs in running the Charity. If necessary, the trustees consider that additional funds could be made available from Compass Travel (Sussex) Limited should the need arise.
Page 3
THE COMPASS TRAVEL TRUST LIMITED
ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024
Report of the Trustees for the year ended 31 December 2024 continued
Statement of trustees' responsibilities
The trustees who are also the directors of The Compass Travel Trust Limited for the purpose of company law, are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing the accounts, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent; and
-
prepare the accounts on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the provisions applicable to the small companies regime as set out in Part 15 of the Companies Act 2006.
On behalf of the Board of Trustees
C Chatfield Trustee
Dated:
Page 4
THE COMPASS TRAVEL TRUST LIMITED
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME & EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024
| Notes Income Donatons Total income Expenditure Charitable actvites Grants and Donatons Support and governance Bank charges Total expenditure Net income/ (expenditure) Other recognised gains and losses Transfer between funds Net movement in funds Fund balances at 1 January 2024 Fund balances at 31 December 2024 |
Unrestricted funds £ 30,626 |
Restricted funds £ |
Total 2024 £ 30,626 30,626 27,077 0 179 27,256 3,369 0 3,369 846 4,215 |
Total 2023 £ 24,191 |
|---|---|---|---|---|
| 30,626 | 0 | 24,191 | ||
| 27,077 0 179 |
0 | 23,940 0 209 |
||
| 27,256 | 0 | 24,149 | ||
| 3,369 0 |
0 0 |
42 0 |
||
| 3,369 | 0 | 42 | ||
| 846 4,215 |
0 0 |
804 846 |
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006
Page 5
THE COMPASS TRAVEL TRUST LIMITED
STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2024
| Notes Current assets Cash at bank and in hand Current liabilites Amounts falling due within one year Net current assets Total assets less current liabilites Income Funds Unrestricted 4 Restricted 5 |
2024 £ £ 4,215 0 4,215 4,215 4,215 0 4,215 |
2023 £ £ 846 0 846 846 846 0 846 |
2023 £ £ 846 0 846 846 846 0 846 |
|---|---|---|---|
| 846 | |||
| 846 0 |
|||
| 846 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2024. No member has deposited a notice, pursuant to section 476, requiring an audit of these accounts.
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 of the Act and for preparing accounts which give a true and fair view of the state of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of section 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company.
These accounts have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
The accounts were approved by the Board of Trustees on…………………………………..
C Chatfield
Trustee
Company Registration Number: 05113884
Page 6
THE COMPASS TRAVEL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting Policies
1.1 Basis of preparation
The accounts have been prepared under the historic cost convention.
These accounts have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and republic of Ireland (FRS 102)" issued on 16 July 2014, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Companies Act 2006. The charity is a Public Benefit Entity as defined by FRS 102.
The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these finacial statements are rounded to the nearest £1.
The accounts have been prepared on the historical cost convention. the principal accounting policies adopted are set out below.
These acounts for the year ended 31 December 2024 are the first accounts of The Compass Travel Trust prepared in accordance with the Financial reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102).
The date of transition to FRS102 was 1 January 2015. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.
1.2 Income
Income from donations, gifts and other fundraising is included when the Charity is entitled to it and the income is probable and measurable.
1.3 Donated assets and services
These are recognised in the accounts at the value when received.
1.4 Expenditure
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category, inclusive of any VAT that cannot be recovered.
1.5 Legal Status of the Charity
The charity is a company limited by guarantee and has no share capital. The Trustees guarantee is limited to £10 each.
1.6 Value Added tax
Value Added Tax is not recoverable by the charity and as such is included in the relevant costs in the Statement of Financial Activities.
1.7 Taxation
The charity is exempt from corporation tax on the grounds that it is a charity and all of its income is applied for charitable purposes.
Page 7
THE COMPASS TRAVEL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
2 Funds
Unrestricted funds
Donations and income receivable or generalised for the objects of the Charity without further specified purpose are placed in a General Fund which is used by the Charity for its day to day activities.
Restricted funds
Restricted funds are subject to specific conditions by donors as to how they may be used.
3 Income
| Notes Donatons Regular giving and sundry donatons Total income |
Unrestricted funds £ 30,626 30,626 |
Restricted funds £ 0 |
Total 2024 £ 30,626 30,626 |
Total 2023 £ 23,940 |
|---|---|---|---|---|
| 0 | 23,940 |
4 Expenditure
| Charitable Actvites Grants and Donatons Acorn AMEN Amplifying Voices MacMillan Hope in Africa Keys Community Detox Andy's Angels Oasis India Teaching Fund Worthing Samaritans RSPCA Cancer Research Turning Tides Guild Care Chestnut Tree Lovejoy Centre Litle things Transaid Of the fence |
Unrestricted funds £ 720 11,163 365 50 1,120 1,440 0 3,000 0 0 100 6,666 0 0 550 50 100 1,753 27,077 |
Restricted funds £ |
Total 2024 £ 720 11,163 365 50 1,120 1,440 0 3,000 0 0 100 6,666 0 0 550 50 100 1,753 27,077 |
Total 2023 £ 630 16,310 100 50 630 1,260 200 2,550 150 100 50 0 500 100 50 0 0 1,260 |
|---|---|---|---|---|
| 0 | 23,940 |
All 2024 values are unrestricted.
Page 8
THE COMPASS TRAVEL TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
4 Expenditure (continued)
| Unrestricted funds £ Charitable Actvites contnued Support and governance Bank charges 166 Computer expenses 0 Printng 0 Sundry expenses 13 179 5 Unrestricted Fund Balance at 1 January 2024 Income Expenditure Transfer As at 31 December 2024 This fund is for the general use of the Charity 6 Restricted Fund Balance at 1 January 2024 Income Expenditure Transfer As at 31 December 2024 |
Restricted funds £ 0 0 0 0 0 £ 846 30,626 27,256 0 4,215 £ 0 0 0 0 0 |
Total 2024 £ 166 0 0 13 179 |
Total 2023 £ 196 0 0 13 |
|---|---|---|---|
| 209 | |||
Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year, and none were reimbursed any expenses. (2024 - Nil)
Employees
There were no employees during the year.
Page 9
Independent examiner's report to the trustees of The Compass Travel Trust Ltd I report to the trustees on my examination of the financi81 statements of The Compass Charitable Trust {the charity) for theyear ended 31" December 2024. Respon8lblUtles and basls of report As thetruste8s of th8 charity (and also its directors forthe purposes of company law} you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 20026 (the 2006 Act). Having satisfied myself that the financial statements of the charity are not requirecl to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination of the charity's fin8ncial statements carried out under section 145 of the Charities Act 2011 {the 2011 Act). In carrying out my examination I have followed allthe applicable Directions given by the Charity Commission under section 145(5llb) of the 2011 Act. Indopendont examlnor'8 ststement I have completed my examination. I confirm that no m8terial matters have come to my attentlon in connection with the examination giving me c8use to believe that in 8ny material respect: 1. 8ccounting records were not kept in respect of the charEty as required by section 386 of the 2006 Act; or 2. the fin8nci8l statements do not accord with those records; or 3. the financial statements do not complywith the accountlng requirements of sectlon 396 of the 2006 Act otherth8n 8ny requirementthatthe accounts gFve 8 true and f8irviewwhich is not a matter considered as part of 8n independent 8X8mlnation; or 4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in 8ccordance with the Financial Reporting Standards applicable in the UK 8nd Republic of Ireland (FRS 102). I have no concerns and have come 8cross no other matters in connection wlth the examination to which attention should be dr8wn in this report in orderto enable a proper understanding of the fin8nci81 st8tements to be reached. Signed: Roger Cotterell 17. Beeches Avenue, Worthing. West Sussex. BN149JE 24" September 2025