Registered number= 04989679 Charity number.. 1104954 WAVERLEY HOPPA COMMUNITY TRANSPORT (A Company Limited by Guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 WAVERLEY HOPPA COMMUNITY TFiANSPORT IA Company Limited by Guarantee CONTENTS Page Reference and Admlnlstratlve Detslls of the Company* It8 Trustees and Advlsers Trustees, Report Indopgndent Audltors. Report on th• Flnancial Ststements 8-11 Consolldatod Statement of Financlal A¢tlvllles 12 Consolld¥ted Balanc• Shoot 13-14 Company Balance Sheet 15-16 Consolidated Statement of Cash Flow8 17 Not•8 to the Financlal Statements 18-42 WAVERLEY HOPPA COMMUNITY TRANSPORT IA Company Llmited by Guaranteel REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 IAARCH 2021 Trusteos R H Knight AMFOX J J Bryd+Jn A J D Boughlon R I SiansbLbry S C Naughaty Dr B S Capper Company registered number 04989679 Charlty reglstered numbgr 1104954 Reglstered offlce Unil 8 Tcwergate Business Cenlre, C¢)opers Place, C(xnbe Lane, Wormley. Surrey. GU8 5SZ Cornpany secretary S Gray Independent aud6tors Wise & Co. Wey Court West. unic￿ Roal. Farnham, Surrey, GU9 7PT Page 1 WAVERLEY HOPPA COMMUNITY TRANSPORT IA Company Limited by Guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2021 The Trustees (who are also d1￿ClorS of the Charity for the purposes of the Companies A¢ll present their annual report, incorporating the directors, report. together &￿th the aL￿lled financial slalemenls of the group and the company. Wavedey Hcppa Community TransiK¥1 {the c(mpanyl lor the year ende(1 31 March 2021. Thè Trustees G￿rIMi that the Annua Report and financial statements of the company comply the ¢urrent stslutory requirements. the reouiremenls of the compan¢s governing document and the provisions ol tr Statement of Recommended PTacli¢e ISORPI, applicable to ¢harities preparing their account$ In accordan th the Financial Reporting Standard appliCat￿e in the UK and Republic of Ireland (FRS 1021 (effective 1 January 20191. Since the group and company qualifies as small under section 383, the strategic reptyt required of mediurn aTr 7rgo companies under The Companies Act 20C6 Islralegic Report and Directorfs Report) Regulations 2013 is not required. ObjectNes and actlvltles . Policies and oble¢tfv•s In setting Obl￿[1veS and planning for 3clivilies, t￿ Trustees have gr*8n due ccThiderab"on to general gU￿ance published by the charrty commission relating to public benefrt. PolrAes and objectives are defined by the Memtyandum of Association as refined by the ad¥i¢e of experts approved by the Board. b. Strategies for achleving objectives strateg￿ lor achieving objectives are defined by an annual budget prepared by the General Man8ger and Board, Present￿ to the local authorty and dBlnbutgJ lo apwopriate parties. c. Activiti￿ undertaken to achlgve obJ"ectives Activthes fcrf achieving obiectwes are the prOM￿¢)n of subsidisa(J ITanswrt seNee$ wi locality of Waverley Borough and limited commercial semces to support the primary aclivilEs. d. Maln activltlos undertakgn to further th• company's purposes for the public beneflt The organisalion's core activities are the pl0vis￿n of dial-a-ride transport within Waverley Borough lo anyone Unab￿ to ulitsse publK serwces by rea¥Jn of 4e, disability or remoteness. Trustees haN* giv￿ full regard to the Charity Commission's guidance on publi¢ benefit, and we confident that, whib our CUSiomeTS clearly benefrt from transportation, there is a benefrt to the W￿er publ￿ in tem)s of •JdressiThJ rural isolation. and promoting the weilbeing and soual inclusion of our customers. e. Volunteers The company is managed by unpaid Board memters, a small professional managemenl team and a staff of employed drNer$. Pwjg 2 WAVERLEY HOPPA COMMUNITY TRANSPORT IA Company Limited by Guaranteel TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2021 Achievements and perfomante - Key financial performance Indlcators The Trustees use maln financial indicators - the proportion of grant funding to total income, and net income or expenditure generaled. Grant funding in Ihe year represented 23% of income {2020'. 21%), including amounts from fudoughing some stsff during Cowd lockdowns. The Trustees continue lo pursue their strategy of contracting commercial routes- lo Schools, Day Cenlres elc. lo subsidise the cofft dial-a-ride operation. In this way we have historically been able to minimise the need for increased public funding lo maintain our objectives. In the year to 31 Marth 2021 the organisati¢n reported net I￿¢￿￿e of £91k12020.' £6CI( net expenditLsrel. After several years of confusion over the issuing of sedion 19122 'not for profit. Iicences lor community transport operators, this has at la81 been resolved and Hoppa resumed operating under these pemiils in 2021. b. Review of actlvitles In the period of review the organisalion continued lo provide transport services within the ambrt of the operations described in its original Business Plan. At the end of the year Hoppa reported a surplus of £95k (2020.. £115k deficill. This result reflected continuing support from both Waverley Borough. and Surrey County Councils in maintaining our income funding during the Covid-19 pandemic. Hoppa managed to promde limited seDAces to our Customers and the NHS during this period, and despite sfjne added expenditure on PPE, V￿re able to redu￿ overall spending in the year. The organisalion's core activities are the provision of demand responswe transport within Waverley Borough, mainly assisting those urith disabilities and the elderly who are unable lo utilise public services by rea$c￿ Of remoteness or &cess drfficulties. These priority services assist in reducing social exclusion among the disadvantaged and in the year some 6,264 passenger trips were made {2020.' 19,3261. This was a significant drop from last year, purely as a resuh of the various lockdowns due lo Covid. Other community support seryices covers school runs- mainly Special Educational Needs - as well as several heallh-related transport contracts. A totsl 0126.049 passenger trips were made in this service category during the year12020.' 34.9761. This reduction related lo periods when the onty school run passengers ￿Ere the children of key workers. e. Investment policy and perforn)anco There is no wlicyto invest in assets other than the premises and vehicles Utili￿ for delwering the serw(xs. Financial revl6w . Going concom After makin9 appropriate enquiries, the Trustees have a reasonable expectation thal the company has adequate resources lo continue in operational existence for the foreseeable future. For this reason they continue lo adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going t￿cern basis Gan be found in the Accounting Policies. Page 3 WAVERLEY HOPPA COMMUNITY TRANSPORT IA Company Lirnitsd by Guarante•l TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2021 b. FSnanclal rl8k management oblectlves and policies The Trustees have idenlified tsvo main financial risks rePlac￿ent of our key ¢aprtal asset. the vehicles themselves. 1058 of grant funding. and the inability to fund In terms of grant funding the largest single amount cc¥ne5 fr¢Jn Waverley 8orough Council. Hoppa were operating the final year of 8 second thoe yeai lem) of a Service Levd Agreement with Waver¢ey,' thts agreement prowdes certainty of income in exchange quartedy perfomiance reviews. Both parties have found this arrangement to be vw benefual and rt has been extended for a further year. Other grants are received frcrfn other County, Tcpwn and Parish C(MJncils. Hoppa minimise risk lo these grants by maintaining regulai contact V•*h all the8e stskeholders, updating th￿n on our operatwal aNJ financial silvalion. Hq)po operate hwenty fwr vehicles. mosly minibuses ￿1th wheelchair access. There rs a Board target to maintain an average vehicle lrfe of between fve six years. wth no vehKle being okler than years. Th gwes rise lo a capitsl requirement of over £1CKlk every ￿ to replace older vehicles," the funding for this needs to be prowded from net Income. caprtal grants or other fundraising. In lerms of risk the Trustees have ¢￿$t￿eTe¢j options cl debt finanung, as wdl as mantsining Veh￿￿$ for k)nger, Ikety io incur greater repo￿ oxts. ¢. Flnanclal results At the balance sheet d8te unrestricted funds of £92,043 {2020.' defKrt £3.137) restricted funds rrf £146,932 {2020'. £146,932) I￿re held. d. Reserves policy There is a monthly review of likely operaling expenses and income. grants, donations and requirements fc replacing vehicles, all to ensure the ability to continue providing services throughout a forthcoming period of at st 6 months. •. D•fi¢it In the year to 31 March 2021 Hoppa has reported a surplus of £91k (2020.. def￿11 £60k) before actuarial gains. The Trustees approve an annual budget wrth a target of generating nel income before depreciation, to be used for capitsl funding. This remains the target fty t￿ financial ￿ar ending Mar¢h 2022. f. Prfnclpal funding Local authority and government gfanls. and d￿alKIn$ frcm parish counols and charitable institutic￿$ ¢cmprise 23% 01 funding {2020.. 21QAI, the balance ￿n9 generated by operating income. Ttte reliance on grant funding continues lo reduce as a result d a deliberate strategy by the Tfustees. Page 4 WAVERLEY HOPPA COMMUNITY TRANSPORT IA Company Limitod by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2021 Structure. governance and management a. Constitutlon The company is registered as a charitable company limited by guarantee and was set up by a Memoiandum of Association on 9 December 2003. The charity was fomied in suceession to Waverty Communty Transport and assumed all that companls assets and liabilrties with effect frcm 31 March 2004. The principal ¢Jbject of the company is lo provide relief lo the inhabilanls of the Borough of Waverley in Surrey whose access to transport is affected by age, mental or physical disability, povety or rural isolation, and in particular lo proV￿e and maintain non-profit community transport SerV￿eS and lo assi51 the charrtable work of organisalions and bodie8 engaged in promoting relief of such persons through the provision of appropriate services. The objectives have not been amended during the year. b. Method of appointment or election of Trustees The management of the company is the responsibility of the Trustees who are elected arKI Cwsted under the temis of the Memorandum and Articles of Asswialion. ¢. Policies adopted for the induction and training of Trustees l Trustees receive explanatory documentation from Companies House and the Chaniies Commission and an introductory briefing with the Chairman, Operating Director and Gener31 Manager and attend a full Board rneeling as an observer before appoinlmenl. Subsequently each Board member re￿IVeS financial results, board minutes, budgets, draft business plans and a health and safety manual. d. Pay policy for senior stsff The General Manager ts the senTh member of staff and a key employee. The Trustees pe4Écy is lo ensure that this employee is remuneratad on a par with commercial enterprises, and use a combination of salary and perforniance bonus to achieve this. e. Organbsational structure and decision-making pollcles The Chaimian, Operating Director. General Manager aTrJ Board meet monthly and are advised quarterty by kcal authority Councilors and experts. Limit5 of decision making authority are defined by reference lo magnitude and banking mandates by Board aulhorty. f. Related party relationships The Trustees and senior staff make a declaration each year concerning related parties. There were no transaction5 Wlth related patties during the year, other than as disclosed in the notes lo the financial slalements. Page 5 WAVERLEY HOPPA COMMUNITY TRANSPORT IA Company Limited by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2021 Plans for future periods In a cl¥nate of financial challenge for our IcLal authorities, who are our key sponsors, Hoppa continues to subsidise ils core services by bidding for, and winning, contracts to prO￿e communty transport roLrtes wherever they frt within the operational crrteria. Membe￿. liability The Members of the company guarantee to contribute an amount nol exceeding £10 to the assets of the c(mpany in the event of winding up. Small Company Provlsions This report has been prepared in accordance with the special provisions relating lo companies sufy'ect to the small companies regime within Part 15 of the Companies Act 2006. Statement of Trustees. responsibilities The Trustees (who are also the directors of the COm￿nY for the purposes of cornpany lawl are responsible for preparing the Trustees, Report and the financial slalemenls in accordance with applicable law and Un Kingdom Accountin9 Standards (United Kingdom Generally Accepted Accounting Practice). Company Law requires the Trustees lo prepare financial slalemenls for each financial year. Under company I￿. the Trustees musl not approve the financial 51alemenls unless they are satisfied that they give a true and fair ew of the state of affairs of the Group and the company and of their incoming resources and application of resources, including their income and expenditure, for that period. In preparing these financial slatemenls, the Trustees are required to: select suitable accounting policies and then apply them consislenlty.. observe the methods and principles of the Charities SORP IFRS 1021; make judgments and accounting estimates that are reasonable and prudent.. sl*e whether applicable UK Accounting Standards {FRS 102) have been followed, subject to any material departUTes disclosed and explained in the financial statements., prepare the financial slalements C￿ the going concern basis unless it is inappropriate to presume that the Group will continue in busines$. The Trustees are responsible for keeping adequate accounting records that are sufficient to Show and explain the Group and the companys transactions and disclose with reasonable accuracy al any time the financial position of the Group and the company and enable them lo ensure that the financial statements Gomply with Ihe Companies Act 2006. They are also responsible for safeguarding the assets of the Croup and the Gompany and hence for taking reasonable steps for the prevention and detection of fraud and other irregularrties. Page 6 WAVERLEY HOPPA COMMUNITY TRANSPORT IA Company Limited by Guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2021 Disclosure of information to audito Each of the persons vtho are Trustees at the tim8 ￿en thi5 Tmstees, Report is approv8J has confirmed that.. $0 far as that Trustee ts aware, there is ￿ relevant audrt Infofflialion of which the charitable group's audrtors are unaware, and that Trustee has taken all the Steps that ought lo have been taken as a Trustee in order to be aware of any relevant audit information and to estsblish that the charitable group's audrtors are aware of tha information. Approved by order o embers of the board of Trustees and signed on their behaw by.. R I Stansbury ITrusleel Date.. rl81 2tsLI Page 7 WAVERLEY HOPPA COMMUNITY TRANSPORT IA Company Limited by Guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF WAVERLEY HOPPA COMMUNITY TRANSPORT OpSnSon We have audited the financi81 statements of Waverley Hoppa Community Transport {the 'parent charitable company'l and ils subsidiaries (the 'group'l for the year ended 31 March 2021 which comprise the Consolidated Statement of Financial Activrties, the Consolidated Balance Sheet, the Cornpany Balance Sheet, the Consolidated Stslemenl of Cash Flows and the related notes, Including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard 8pplica)le in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice). In our ¢¥inion the financial slalemenls". give a true and fair view of the state of the Group's and of the parent charitsble company's affairs as al 31 March 2021 and of the Group's inc(￿1ng resources and appluli(m of resources, including rts income arKI expenditure for the year then ended, have been propety prepared in aceordance with United Kingdom Generally Accepted Accounting practi￿.. and have been prepared in accordance with the requirements of the Companies Act 20C6 and the Charities Act2011. Basis for opinion We conducted our audit in accordan￿ with Intemalional Stsndards on Aud1ting IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilits.es for the audit of the financial slalements sects.on of our report. We are independent of the Group in accordance wth the ethical requirements that are relevant to our audit of the financial 51alemenls in the United Kingdom, Including the Financial Report1ng Coun¢il's Ethical Standard, and we have fulfilled other ethical responsibilities in accordance with these requirements. We belie* that the audit evidence we have obtained is sufficient and appropriate to provide a basis f¢x our opinion. Conclusions relating to going concern In auditing the financial stalemenls, ￿ have ¢on¢luded that the Trustees. use of the going cor￿eM basis of accounting in the preparation of the financial stalernenls is appropriate. Based ￿ tl* work have perfomed, have not identified any material uncertainties ￿l*ing to events or condrtions that, indmdually or collectively, may cast significant doubt on the Group's or the parent chantable eompany's ability to continue as a going concem for a period of at teast tsvelve months fr¢Jn when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Tntstees with respect to going con¢em a￿ described in the relevant sections of this report P4e8 WAVERLEY HOPPA COMMUNITY TRANSPORT IA Company Llmited by Guarantt•} INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF WAVERLEY HOPPA COMMUNITY TRANSPORT {CONTINUEDI Oth•r infomatlon The ¢Xher information comprises the Inlorniation inclLNJed in the Annual Report other than the financ￿1 statements aThJ our Auditors, Report thereon. The Trustees are responsible for the other information contained thin the Annual Report. Our cpinion on the firtancial statements does not cover the other information and, except to the extent otherwise explicitly ststed in our report, do not express any form of assurance conclusion thereon. Our resF)onsibility i8 to read the other infomalion and, in doing so, consider whether the other information is materially inconsislenl wrth the financial stslemenls or our knovAedge obtained in the course of the audit, or otherwise appears to be materially mi¥ststed. If identify such material Inconsistenc￿$ or apparent material misslalernenls, we are required lo determine whether this gjves rise lo a rnaterial rnisst8lemenl in the financial statements themselves. If. based the we have perfomied. ￿ c¢yKlude that there 18 a malerHI misstalemenl of this other inforynation. are required to rwt that fad. We ha%e nothing lo rwt in this regard. Opinion on othw mattérs prescrlbed by the Companl8s Act 2006 In our opinion, based on the work undertaken in the course of the audrt.. the information given in the Trustees, Report for the financial for the financ￿1 slatements prepared is consistent Imth the financial slatemenls. the Trustees, Re￿t Ikls been prepara in aCctyd￿ ¥￿th appluble legal requirements. matte￿ on vthlch wo arn roqulred to report by oxception In the IvJhl of our kn(Mledge and understanding of the charitable company and Tts environment obtained in the course of the audit, ￿ have not identified material misstalemenls in the Trustees, Report. We have nothing lo report in respect of the followng matters in relaticii to whth Companies Act 2(KN8 requSres us lo report to you if, in our opinion. the Pa￿nI charitable company has ncl kept aequate a￿1 Suff￿lent accounting records, ￿ Tetums adequate for tsjr audit have ncl been receiv&1 frtyn branches not visited by us.. or the parent charil*Lg ¢c￿panY fin￿¢￿1 statements are rKA in agreeM￿t vthh tho accounting r￿ordS retums. or certain di￿￿)Sure5 of Trustees, Temuneration Sp￿ffied by law are not made,. or VR have not r￿e1Ved all the information and explanations we require for our audit., or the Tnjslees were not enlilled lo prepare the financial slalemenls in accordance with the small compan regime 8nd lake advantage of the small companies, exemptions in preparing the Trustees, Report and from the requiiemenl lo prepare a Strategic Report. Page 9 WAVERLEY HOPPA COMMUNITY TRANSPORT {A Company Limited by Guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF WAVERLEY HOPPA COMMUNITY TRANSPORT (CONTINUED) Rosponsibilities of trnstees As explained more fulty in the Trustees, Reswnsibililies Slalemenl, the Trustees (who are also the directors of the charitable company for the purposes of c¢Jnpany lawl are responsible for the preparation of the finanaal statements and for being salisfed that they give a true and fair v￿w, and for such Internal control as t Trustees determine is necessary lo enab￿ the Wepara1￿ of financial statements that arn free malefi misslalernenl, whether due lo fraud or error. In pr8parin9 the financial slalemenls. the Trustees are responsible for assessing the Group's and the parent charitable companls ability to continue a8 8 going eoncem. disclosing. as applicable, matters related to goiry ¢oncem and using the wng concern bas￿ of accounting unths the Trustees erther intend lo liquidate the Gr￿p or the parenl Charrtab￿ company or lo cease operatws. or have no realsslic anernatsve but to do so. Audltora. rnsponsibililies for the audlt of thg flnancial slatomgnts Our ¢*jectives are to obtain reasonable assurance about whether the financjal slalemenls 88 a whole are free from material misstatement, whether due lo fraud or error, and to issue an Auditors, Report that includes our opinion. Reasonable assurance Is a huh ￿Ve1 of assurance. but is not a guarantee that an aud*t conducted in accordance wlh ISAS IUKI wll always delect a material misstalernenl when rt exists. Misslalemenls Can arise from fRud or error and are considered malerial if, individualty or in the aggregate, they could reasonably be expeded lo influence the economic deCiS￿n$ ol users taken the basis of these financial stalemenls. Irregularities, including fraud, are inslanees cl non-c(mFAiance with laws and iegulalions. We desvJn procedures in line wth our resEN)nsibilities, ¢JJllined atove. to del￿1 rnalerial misslatemenls in respect of irreguIarrt￿. including fraud. T1￿ extent to whKh ¢￿r we¢édures we capable of detectsng irregularrties. induding fraud . We gained an understanding of the legal and iegulalory framewofk applicable to the charitable company and the industry in which rt operates. and considered the risk of acts by thg char((able company that weie contrary to appI￿able IM and fegulations. including fraud. We designed audit procedures lo respond lo the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not delecling one resulting from error, as fraud may Involve deliberate concealment by, lor example. forgery or intentional misrepresentations, or through collusion. W• locussed on laws and regulations which C￿ld gwe rise to a material misstslemenl in the f1nancial stslemenls, including, but not limited lo, the Companies Act 20C6, the Charrties Act 20118fKI UK tax legislatw. Our tests included agreeing the financial stalement discJosure3 to underlwng supporting documenlal*)n aNI enquir￿ wth management. There are inherent Iirnilalions in the audit prctedures described above and. the further removed nonvcompliance wilh IM regulatsons is fr(xn the events and Iransaclions reflected in the financial ststemenls, the ￿sS likety V•e *xJuld become aware of it. We did not identify any key audrt matters relating lo Irregularrties, including fraud. As in all our audits, we also addressed the risk of m8nagemenl overrhle of internal controls. Including testing ioumals and evaluating whether there was evidence of bi85 by the Tru$lees that represent&J a of material misslatemenl due to fraud. A further descnplion of our responsibilitTres for Ihe audit of the financial slalemenls Is l¢xaled on the Financial Reporting Council's websrte al. ww.frc.or .uklaudil Ililies. This deseiiption foms part of cyJ¥ Auditors, Report. Page 10 WAVERLEY HOPPA COMMUNITY TRANSPORT IA Company Limited by Guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF WAVERLEY HOPPA COMMUNr TRANSPORT ICONTINUEDI U•• of our report This rewrt is made solety lo the charrtable company5 members, as a body, in accordance ￿th Chapter 3 of Part 16 of the Companies Aet 2006, and lo the chantable ¢￿panIS trustees, as a bojy, Part 4 of the Charths IAccounls and Reports) Regulati￿$ 2CQ8. Our audit work has been undertaken so th* we M￿ht $Lite lo the chantable companls member$ those matters ￿ are r8]uired to sLqte lo them in an Auditors, Rewrt and f¢X rK> other purpose. To the fUl￿t e￿ent pemitted bylaw, we ￿ nL* accept or assume responsibilty to anyone ot￿r than the chanlable C¢)mpany and ts members, a8 a W, for our audit work. for this report, or for the opinions we have fom)ed. Mark Dickinson FCA IS8nior Statutory Auditorl for and on behalf of Wlse & Co Chartered Accountants Wey Court West Union Road Farnham Surrey GU9 7PT Date: 2£ IrJt 1207( PwJ811 WAVERLEY HOPPA COMMUNITY TRANSPORT {A Company Limited by Guarantee) CONSOLIDATED STATEMEprf OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 MARCH 2021 As restated To¢al Restrictod Unrestricted funds funds 2021 2021 Total funds 2021 2020 Income from: Donations and leg8cies Charrtable aclivibes ¢Jhef trading acliwties her irKome 70.264 154.184 51.814 9.465 798,496 19,785 122,078 163,649 798,496 19,785 64,874 195,244 76&859 19,6TI Total Income Expendliure on: Ra1sing funds Chanlable actiwlieg 224,448 879,560 1.104,008 1,045.648 5.256 865,935 5,256 1.007.572 4,816 1, YQ),662 141.637 Total èxpenditurè 141,637 871.191 1,012.828 1. 105,478 Net Income Transfers between fundj 82.811 8.369 82,811 91,180 (59,830) 20 182,811) N8t movement in funds before othar recognisttd gainslllos$esl Other recognised gainslllosses}.' Actuarial gainslllossesl on defin& benrfrt pension schemes 91.180 91,180 (59, 830) 25 95.180 95,180 (114,830) N6t movement in fund• Reconclllation of fund•: Totsl lunds brought foTward Net movement in funds 146,932 13.1371 95,180 143,795 95.180 258,625 (114.830) 146,932 92,043 238,975 143. 795 Total fund• carrigd forward Page 12 WAVERLEY HOPPA COMMUNITY TRANSPORT IA Company Limited by Guarantee) REGISTERED NUMBER: 04989679 CONSOLIOATED BALANCE SHEET AS AT 31 MARCH 2021 2021 2020 Not• Fixed assets Tangible assds 14 304,354 316.970 304,354 316,970 Current ￿59t$ Debtors Cash al bank and in hand 111,502 203.428 117,088 49,829 314,930 168,917 Creditors.. arnounls falling due wlhin one 17 173,2871 (73,￿) N• current assets 241,643 93,411 Total assets less current Ilabilities $45,997 410,381 Creditors.. amounts falling due after mor8 than one year 18 (61,022} {20.586) ass•ts excludlng penslon Ilabillty Defined benefit pension scheme liability 494,975 389, T95 (246.OCQ) 25 1256,0001 Totsl n•t M8•ts 238,975 143, 795 Charity funds Reslricled funds Unreslricled funds UnrestTided funds exdudiThJ pen￿￿ asset Pension reserve 20 146,932 146,932 20 348,043 1256,0001 242,863 (246.000) 20 Total unrestricl&J fund8 20 92,043 {3, 137) Totsl fund• 238,975 143.795 Page 13 WAVERLEY HOPPA COMMUNifY TRANSPORT (A Company Limited by Guarantee) REGISTERED NUMBER.. 04989679 CONSOLIDATED BALANCE SHEET ICONTINUEDI AS AT 31 MARCH 2021 The Tnjslees acknovAedge thar responsibilities for comp￿"na with the requirements of the Act with respect lo 8ccounling records and preparation of financial slalemenl5. The financk41 slalements have been prepared in aCCC￿ance wilh the provisions appluble to entit￿ subject to the small companies regwne. The financial stslements were approved and ajlhorised for issue by the Tru$iees and suned on tr￿1r behaf ty. R H Knight R I Stansbury D*e. If1812>ZI The notes on pages 18 10 42 fomi part of these financial slatemenls. Page 14 WAVERLEY HOPPA COMMUNITY TRANSPORT (A Company Limited by Guarantee) REGISTERED NUMBER.. 04989679 COMPANY BALANCE SHEET AS AT 31 MARCH 2021 2021 2020 Nol• FIX￿ assots Tangible assets Investments 14 15 304,354 316,970 304,355 314971 Current 4s8•ts Debtors Cash at bank and in haThJ 16 273,595 36,135 148,853 13. 309,730 161, 722 Credit(xs'. amounts falling due *ithin o 17 168,0871 (68,3CkSJ Net current a•#ets 241,643 93.416 Totsl 4ss•ts less current liabilltles 545,998 410,387 Creditors.. am¢)unts falling due after more than one sear 18 {51,0221 f20,586) N¢t assets excludlng penslon Ilabllity Define(I benefrt pension scheme liability 494,976 389,801 25 1256,0001 1246,(kW) Total nèt assal• 238.976 143,￿1 Charity funds Restricl&d fund$'. Restr￿ted funds excluding pension asset 20 146.932 146,932 Total reslricied fur Unrestricted funds Unre51ricted funds excluding pension liability Pension reserve 20 146,932 146,932 242,869 (246,0￿?) 1256.0001 Totd unrestricted fur￿5 20 92.044 (3, 131) Total funds 238,976 143,801 P48 15 WAVERLEY HOPPA COMMUNITY TRANSPORT {A Company Limited by Guarantee) REGISTEREO NUMBER: 04989679 COMPANY BALANCE SHEET ICONTINUEOI AS AT 31 MARCH 2021 The Trustees acknovAedge their responsibl1rt￿ for Comp￿fig 4Mth the requirements of the Act with respecl to accounting records and preparation of financial statements. The financia statements have been prepafed in 8ccordance the provis￿￿ applicable to entilie5 SUt4'ect to smal wpanies re9ima. The finanual statements were approved and authorised for issue bythe Trustees and signed on their behdf by. R H Knight I Stansbury Dale.. LFlgl 2ot4 The note8 on page8 18 to 42 fomi part of these financial slalements. Page 16 WAVERLEY HOPPA COMMUNITY TRANSPORT {A Company Llmited by Guaranteel CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDEO 31 MARCH 2021 2021 2020 Ca8h flowa from operatlng activtties Net used in operating acliwlies 159,407 44.895 Cash flows from Invèstlng actlvltles Prcceeds from the sale of tangible fixed ass*s Purchase of tangiblo f￿ed assets 11.128 155.7051 (34,205) N•t cash used In Inv￿tIng aclivities 144,5771 {34,20SI Cash flows from finanelng actlvltles Cash inflNs fr￿ new borrovmng Repayments of borrowing 50,000 {11.2311 (39,979) Not cash provlded byllused Inl financing activltlos 38,769 139.9791 Change In cash and ¢a•h equlvalents In th• y•ar C88h and cash equivalents * the b4innffvJ 5*8r 153.599 {29.289) 79,118 49,829 CaBh and cash equivalents at the end of the y••r 203,428 49,829 The notes on pages 18 to 42 foryn part of these financial slalemenls Pago 17 WAVERLEY HOPPA COMMUNITY TRANSPORT IA Company Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 General infomi•tlon Waverley Hoppa Cc*nmunity Transport is a private company limited by guarantee, incorporated in England. The regislefed office address is Unil 8 T(h¥ergale Business Cent￿, Coopers Pl&e, Cc¥nbè Lane, Wormley. GodalmiTrJ, Surrey, GU8 5SZ. The registered company number is 04989679. Aeeounting policies 2.1 Basls of prgparation of finanelal statements The finarlcial statements have Èeen prepared in aecordanee wth the Charities SORP {FRS 102) - Accounting and Reporting by Charities Statem￿1 of Recommended Practi￿ applicabk to charities preparing their accounts in accordance wrth the Financial Reporling Standard applicable in the UK and Republic ol IreL4nd IFRS 1021 (effective 1 January 20191. the Financial Reporting Standard applicable in Ihe UK aThl Republ￿ d IreL4nd IFRS 1021 and the Companies Ad 20C6. Wavedey Hoppa Communty Transport meets the definition of a Publ￿ benefrt entty undei FRS 102. Assets and liabilities are inilialty recognised a histori￿1 Mst or transaction value unlgss otherwise slated in Ihe relevant accounting policy. The Consolhjaled Statement of Financial Activities {SOFAI and ConsolKlaled Balan¢e Sheet consolidate the financial statements of the company and tts subsidiary undertaking. The resLblts of the subsidiary afe consolidated ¢X a lir* ty line basis. The company has tsken advanwe of Ihe exemption all0v￿d under Section 408 of the Companies Act 2006 and ha8 nol presented rt8 cwn Stslement of Financial Activities in th88e financial slatemenls. 2.2 Going concam The company reported a su￿uS fe¢ the year of £91k. De$pile the uncertainties generalty expefienced from Covid-19. Hoppa have actualty Increased their bank balance and reserves through a combination crf b¢al grants, Increas￿ NHS aets'wty. and a bounce back loan. repayable 0￿r six The Trustees believe that their gr￿￿h strategies will ensure that the company wntinues to be a going concem at present. However they al80 acknowledge that the￿ are longer lem issues that have an impact, including. financial pressures on I￿1 council funding", the requirement lo refresh the ageing fleet of vehides., the aim lo introduce el￿triC vehides to Ihis fleet, * a much higher hithal ¢ost.' and the continued uncertainties caused ty Covid. Pag8 18 WAVERLEY HOPPA COMMUNITY TRANSPORT {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 A¢￿untIng policies Icontjnuedl 2.3 Incomè Al income is recognised ￿te the company has entitlement to th• inwne. it is probab￿ that the me will be received arKI the amcwnl of Inccffle receivable can be measured reliably. Incoming resources from charrtable auivities are recognised ￿eTr the service has be8n prOv￿ed. Grants are assessed as to wttelhef they represent 8 gfft or indude performance related conditions. Grants th* represent a grfl are recognised Kthen the charity has entitlement. receipt ts probable ar¥J the amtsunt can be reliably measured and are included In income from donations and legacies. Grants that include perfo￿an￿ rdated condrtions are recognised lo the level that those conditions ha￿ been met and are included in in¢cm8 fomi charitable activities, 2.4 Expenditurè ExFendilure ts recogntsed therè 18 a l&J81 or conslfuctive obligation lo Iransfer eeonomie berofit lo a Ihifd party, is probable that a Iransler of economic benefits ￿11 be required in settlement and the amount of the obligation can be rneasured reliably. Expenditure is classified by activity. The costs of each activity are made up of the lotd of direcl costs and shared costs, including support C08ts involved in undertaking each acliwty. Dired ￿t$ attributable to a single aclivity are alkKaled dire¢tty lo that actiwty. Shared cc6ts contribute lo more than one actmty and support costs whth are ncrt attributab￿ lo a single ackn.wty are apportioned between those acliwt1es on a basis consislenl vAth the use of resources. Support CO818 are those ¢cdls incurred direclty in support of expendrture on the objects of the company. Governance eosls are those incurred In connection V•ith admintstralion of the c(ynpany arKI comtyiance *ith conslrtulional and stalulory requiremenls Charitable aclivrties and governance costs 8re costs incurred on the company's operal¢ons. including support costs and c08ts relating lo the govemance of the company apportioned to chantsble activitie8. All are charged to restitta LY unrestrKied expenses ba8eJJ on mileage. Expendilure on chantable activrties is incurred on directly undertaking the aclivrt1es which further the Gr￿p.$ objeclives, as well as any associated support costs. 2.5 Tangible fix•d •ss* and depreciation Alt tsngible ffixed assets are eaprtalL8e(J and reLognised when luture economic benefits are probable ar￿ the or value of Ihe a55et can be measured reliably. Tangible fixed assets are initial￿ ￿c(NjnI$ed 81 crffjt. After recognition, under the c¢￿t mtsjel, tangible fix￿ ass8ts are measured al cx>st less ar£L*mulated depreciation and any accumulatefl impaim)ent 105se5. All costs Incurred lo bnng a tsngible frKed asset into rts Intended working condition should be irKluded in tha measurement of eost. Page 19 WAVERLEY HOPPA COMMUNITY TRANSPORT (A Company Limited by Guarant801 MOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Accounting pollcies Icontlnuedl 2.5 Tangible flx•d 898•ts and depreciatlon {continuedl Depreckition is charged 80 a8 to alkcate the cost of tangible fixfrj assets 1988 their Tesidual value over their eslimaled useful INes, . DepreCIats￿ is PToMded on the fc4km.ng bases." Leasehold property Fittings and equipment Motor vehides SO years 8lraighl line 5¢yA slraight line and 25% r&Jucing balance 25°A r&Jucing ba18nce 2.6 IDYestrnents Investmen1$ in subSKI￿rieS *8 valued at cost18SS pn)vision far impaiment. 2.7 Debtors Trade and other debtors are r￿niSed al the setdemenl amount after any trade discount offerèJ. Prepayments are valued at the wnount prepaid nel of any Irade discoun15 due. 2.8 C48h at bank and In hand Cash * bank and in hand includes cash and short-lem highly Iiqukl Investments with a short maturity of three months or les8 frrm the date of acquisition or opening ol the deposit or similar account. 2.9 Llabilities Liabilities are recognised when therg is an obligation at the Balance Sheet dale ￿ a result of 8 Past event. it is probabbe that a Iransler of economK ￿efit will be required in set￿eMent. ond the amount of the settlement can ￿ esb"mated fella￿y. Liabilrties are recognised al the amount that the company anlieipates il will pay lo setue the debt c the amounl rt has received as advanced pawnents for the goods or Se￿ICe5 it must provide. 2.10 Financlal Instruments The Group onty has financial assds 8nd fin￿e181 l￿bI￿rtIeS of 8 that qualfy as bas￿ financial inslrumenls. Basic financial inslrumenls are inilialty recognised al transaction value and subsequently measured al their settlement value y￿h the exception of bank loan8 which are subsequently measured at ￿n0￿"Sed cosl using the effeclNe inleiesl method. Pago 20 WAVERLEY HOPPA COMMUNITY TRANSPORT IA C(Knpany Limited by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Accounting policies (continued) 2.11 Flnince 10480$ 4nd hlre purchase Assds obtained under hire purchase contracts and finance leases are caprtalised as tangible fixed assets. Assets ￿quired by finan￿ lease are depreciated over the shorter of the lease temi and the useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance ￿08•S are those where Substantial￿ all of the benefils and risks of ownership are assumed by the Group. Obligations under such agreements are Included in creditors, net of the finance charge allocated lo future periods. The finance element d the rental payment is charged lo the consolidat￿ Statement of Financial Activities so as lo prcduce a c￿nstant peri(xlic rate of charge on the net obligat￿n oulstanding in each periLMJ. 2.12 Operating leases Rentals paid under opeT81ing kases are charged to the Consolhlated Statement of Financi81 AclNitses on a slrai9ht line b881$ fftr the lease term. 2.13 Penslons The Group operates a definejj contribution pension scheme and the pension charge represents the amounts payable ty the Group lo the fund in fespect of the ￿r. Group opeiales o defined benefrts P8nsion scheme and the pension charge is ba8ed on a fvll actuari81 valuation dated 31 March 2021. The liabilrty recognised in the balance sheet in respect of the defined benefft plan is the present value of the defined benefrt obligation at the end of the reporting date less the fair value of the plan assets at the reporting dale. The defined l)enefft oblvjalion is cakulated u*ng the prqected unit credrt methc#J. Annu81ty the company engages independent actuaries lo calculate the obligalion. The present value is delemiined by discounting the estimated future payments using market wekls ¢)n h¢gh quality t￿porate bjnds th8t are denominaled in slwling and that ha* lemis approximating the eslimaled perictyj of ftrture payments. The fair Val￿ of plan 888ets measured wi ac￿rdanCe ￿1th ltr￿ FRS 102 fair value h￿rarChy. 2.14 Fund ac¢ountln9 General furvJ8 are unrestr￿1&￿ funds we available for use at Ihe discTetion of the Trustees in furtherance of the general ol¥'eclive$ of the Group and which have not been designated for other purposes. Reslricled fijnds are funds ¥th￿h are lo be used in xcordance wnth specrfic restrsclions imrK6ed by donors or which have been raised ty the Group for particulai purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of ea¢h restricted fund ￿ set in the nc*es to the lin￿Cla stslement¥. P•Je 21 WAVERLEY HOPPA COMPAUNITY TRANSPORT IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Accountlng pollcl•8 Icontlnuedl 2.15 Group VAT reglstration The eompany 18 part crf a grcw VAT regi51ralion Vlith Hcppa Limit&J. Waverley Hoppa Communty Transptsrt is the nominated ccmpany, responsible for submitting the retums and for making the payments on bghalf of the companies in the group VAT registration. 2.16 Taxatlon The company 1$ ￿nsidered to meet the definbtion of a charitable company for UK corporation tax purposes. Accordingly, the company is polenlialty exempl from laxalion in respect of Income or capital gains received, lo the extent that such income or gains are applied exclusivdy to charrtèble purposes. Income from donatlons and legacies Restrlcted Unrn8trietèd funds funds 2021 2021 Total funds Donation8 Grants 2,712 49.102 2,712 119.366 70.264 Total 2021 70,264 51,814 122,078 Rgslricled Unrestricted funds unds 2020 Total Donations Grants 25,996 2,778 1,1 28. 774 36, IC Tt￿ 2020 60,996 3.8T8 64,874 Pago 22 WAVERLEY HOPPA COMMUNITY TIi4NSPORT IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Income from charitablè activitles Restrictod Unréstricted funds ftsnds 2021 2021 Total fund# 2021 Transport Performance rela￿j grants 9.465 9,465 154.184 154.184 Total 2021 154.184 9,465 163,649 R8slricted Unfoslncted lunds funds 2020 2020 Tot81 funds 2020 Transport Perfomiance related grants 36.309 36.309 158,935 158,935 Totd 2020 158,935 36.3CYJ 19&244 Incorne fvom other tradlng activitios Income from non charitable tradlng activitlos Unrestrlcted funds 2021 Total nds 2021 Subsidiary cLwnpany inccff 798.496 798,496 Unreslncled funds 2020 Total funds 20%) Subsidiary company inccffi& 765,859 76&859 Page 23 WAVERLEY HOPPA COMMUNITY TRANSPORT IA Company Limited by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Other incomlng resources Unrestrlcted fund8 2021 Total funds 2021 Sundry ir￿orne 19,785 19.785 As restated As rEslale Unres117Gled Total n￿8 funds 2020 2020 Sundry income 19, 671 19,671 Government grants During the year the chanty received the follcwing grants from government bodies. 2021 2020 Waverley Borough Council Surrey County Council Haslemere Town Council Farnham Town Council Godalming Town Council Chiddingfold Parish Council Coronavirus job retention scheme 115,500 78.948 5.000 qo,000 5,000 1,200 41.802 108,000 46,814 5,000 5,000 257,450 169.814 Page 24 WAVERLEY HOPPA COMMUNITY TRANSPORT {A Company Limlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Expendlture on ralslng funds Other tradlng expenses Unrestricted funds 2021 Total funds 2021 Subsidiary company expense$ 5.258 5.256 Unwlncled funds 2020 fu￿ts 2020 Subsidiary company expenses 4,816 4,816 Analysis of expenditure on charltable activlties Summary byfund type Restrlcted Unrestricted funds funds 2021 2021 Total fun(ts 2021 TransFth services 141.637 865,935 1,007,572 As resl8led As rnslaled Roslricled ￿n￿stricted Tot81 funds funds funds 2020 2020 2020 Transport serwces 259, 773 840.889 1, ILKI,662 P40 25 WAVERLEY HOPPA COMMUNITY TRANSPORT (A Company Limited by Guarantoel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCPI 2021 10. Analys1$ of expenditure by activitlgs Actlvitles undertaken directly 2021 Support costs 2021 Total lunds 2021 Transport services 732,899 274.673 1.007.572 As A8sl8led Aclivilies undertaken dir8clly 2020 As Trs1818d Tolal funds 2020 SupiKJrt cosls 2020 Transport service8 791, 107 309.555 1, ICiI,662 Analysis of dlr•ct costs Total fund8 ¥J21 Transport 2021 Vehick costs Vehide storage costs 129,664 12,342 536,522 54,371 129,664 12,342 536,522 $4,371 Depreciabon and {profitllbss on d1sposal Totsl 2021 732.899 732.899 Page 26 WAVERLEY HOPPA COMMUNFTY TRANSPORT IA Company Limited by Guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 10. Analysis of expendbture by activitles I￿ntInued) Analysis of dlrnct costs {contSnuedl As rtst818d Tolal As reslaleé Transport 2020 2020 Vehicle costs Training costs Vehicle storage co818 staff costs Deprecialton and {profillAoss on disposal 170,481 170,481 3,061 11,162 547,021 65.382 11,162 541,021 65,382 Total 2020 as r8Staled 791, 107 791, 107 Analysls of support CO8t8 Total fund$ 2021 Transport 2021 Net finance expense on dofined benefii pension staff costs 6.000 197.854 2,822 11.588 1.135 6.397 12,186 197,854 2,822 11.588 1,135 6.397 12.185 Depreckgtton Eslablishmenl cK>8ts Stsff related costs Telephone Postage & stationery Advertising and marketing IT development and maintenance Accountancy & botskkeeping Heath & safely and professional fees Sundry costs Public relations Govemance costs 9,048 8,248 2,662 6.867 4.769 5.455 6,248 2.662 4.769 Total 1121 274.673 274,673 Page 27 WAVERLEY HOPPA COMMUNITY TRANSPORT {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 10. Anatysis of expenditure by activities Iconlinuedl Analysls ol support costs Icontinuedl Transport 2020 fvnds 2020 Net firtan￿ expense on defin&1 benefft pension Staff costs Depreciation Establishment costs Staff rela￿￿ costs Tdephone Postage & stationery Advertising and marketing IT devebopment and mainlenan¢e Accountancy & bookkeeping Entertainment Health & safety and professional fees Sundry ¢osts PublK relations Governance costs 233.033 3.079 12,549 3,084 Q793 7,373 2,318 5,584 &615 2. 162 2,393 11,459 5,013 5. 100 233.033 3.079 12.549 3.084 6. 793 7,373 2,318 &584 &615 2. 162 2,393 11,459 &013 5,1 Tolal 2020 11. Auditors, remunerailon 2021 2020 Fees payable lo the companls auditor for the audtt of the companls annual accoun15 5. ICI) Fees payable to the companys auditc* in respad of.. All non-audil services not included above 8.248 5,615 Page 28 WAVERLEY HOPPA COMMUNITY TRANSPORT IA Company Limited by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 11 Staff costs Group 2021 Group Company 2020 X121 Company 2020 Wages and salaries Sctol $￿Unty costs Pension contributions Defined ténefft pension adjustment 63S,505 40.8S1 10,020 48,000 655. 120 41,835 11,099 6QCXXI 635.505 40,851 10.020 48.000 65& 120 41,835 11,099 734,376 774,054 734.376 774,054 aNprage number of persons em￿oyed by the company during Ihe was as follows". Group 2021 No. Gmup Company Company 2020 2021 2020 No. Management and administration Dispalches Drivers 35 41 39 41 No employee received remuneratmjn amounting to more than £60,LIJO in eilher star. The total employee benefits, including employer pension conlribulions. of the key management per80nnel were £77,989 (2020 - £70,610). 13. Truste•8' r•muneration and expens88 Dunng the ￿3T. no Truste8$ rewved arry remuneralion or fAher benefits (2020- £NILJ. During the year ended 31 March 2021. expenses lolalkng £55 were re4mbuTse(l or paid directly to 1 Twslee (2020- £NILI. Page 29 WAVERLEY HOPPA COMMUNITY TRANSPORT IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 14. Tanglble fixed asse Group Long4erm leasehold Vehiclas and property èquipment Totsl Cost or valuatlon At 1 Apnl 2020 AddilK)n8 Disposals 153,934 802.132 56,705 {225,5941 956.066 55,706 1225,594 At 31 March 2021 153,934 632,243 786,177 Deprociation Al 1 April 2020 Chaige lor the year On disposals 49,249 2,822 589,847 S7,S27 {217,6221 639,096 60,349 1217,6221 At 31 March 2021 52,071 429,752 481,823 N•t book valuo At 31 March 2021 101,863 202,491 304,354 At 31 March 2020 104,685 212,285 316,970 Page 30 WAVERLEY HOPPA COMMUNITY TRANSPORT (A Company Lirnited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 14. Tangible fix•d assets Icontlnuedl Company Long-term leasehold Vehlcles and property equiprn¢nt T(*al Cost or valuatron At 1 April 2020 Additions Disposals 153,934 802.132 SS.705 1225,5941 9￿.1166 55.705 1225,5941 At 31 Mar¢h 2021 153.934 632,243 786.177 Dapreciatlon At 1 April 2020 Charge for the year On disposals 49,249 2.822 589,847 57.527 1217.6221 639,096 60,349 1217,6221 At 31 March 2021 52,071 429,762 481.823 Not book value At 31 Marth 2021 101.863 202.491 304,354 Al 31 Al8r¢h 2020 104.685 212,285 316,970 The nel t#)ok value of assets held under finance leas88 or hire purchases contracts. included above, are £39,02012020- £73,58SI. Page 31 WAVERLEY HOPPA COMMUNITY TRANSPORT {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 15. Fixed a•••t investments Investments In subsidiary companies company Cost or valuation At 1 Aprd 2020 At 31 March 2021 Net IxK*k value At 31 March 2021 At 31 M8rch 2020 Principal subsldlarl88 The folloNwng was a Subsidiary undertaking of the company". Name Company nUM￿r Holding Included In consolidatlon H(ypa Limited 08793C63 100% Yos The financial Tesulis of tho Sub5￿￿1ry for Name Income Expend6ture ProflVILossl for the period Net a88•t9 Hcypa ￿rnited 798.496 1723.9021 74,$94 Page 32 WAVERLEY HOPPA COMMUNITY TRANSPORT {A Company Limited by Guaranteol NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 16. Debtors Group 2021 Gmup 2020 Company 2021 Company 20 Du• withln on• ￿ar Tr>le debtors Amounts owèj by group undertaking5 Other debtors Pfepaymenls and accrued Ir￿ome 88.752 99,592 250,845 9,435 13.316 131,422 3,916 13,315 4, 181 13,315 13,315 111.502 117.088 273.595 148,653 17. Credltors.. Amounts lalllng due withln one y•ar Group 2021 Gmup 2020 Company 2021 Company 2020 Bank bjar Trale Cfeditors Other taxation and sockql s￿urity Obligations under finance the and hire purchase contracts Other creditors Accruals and deferred income 8,333 7.556 8,333 1.644 14,3T8 14,378 22,462 4.762 30.174 22.462 3,938 31,084 22,462 4,762 24,974 22,462 3,938 25,884 73,287 73.506 68,087 The net obl￿¢1¢￿$ under finance leases arwj hire purchase contrad$ are secured over the lea￿ ass￿. Page 33 WAVERLEY HOPPA COMMUNITY TRANSPORT {A Company Llmlted by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 18. Creditors: Amounts falling duo after moro than one year Group 2021 Group Company 2020 2021 Company 2020 Bank k)ans Net obligations under finance lease l¥ré purchase contrads 41.667 41,667 20.586 9,355 51,022 61.022 The net oblig*ions under finance hire puichase contracts are secured over the assets. Induded within the ab¢)ve are amunls falling due as folkME.' Group 2021 Group 2020 Company 2021 Company Be￿een one and two y•arn Bank loans 10.000 10,000 Between two and fNe years Bank loans 31,667 31,667 The bounce back ban vra5 obtained in May 2020 and the first repayment is due in June 2021. Intaresl ' payable at 2.5% per annum and is paid by the Government for the first 12 months of the loan. 19. Prlor y•ar adjustrnents In the comparative f￿￿re5 £11,507 of irwne from the bu8 8ervice operators grant was previou$ly set against veh￿e costs and this has ken restsled lo other Irbcome. Page 34 WAVERLEY HOPPA COMMUNITY TRANSPORT (A Cornpany Limited by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 20. Statement of funds Statement of funds . current year Balance at 31 March 2021 Balance at 1 April 2020 Transfers inlout Gainsl (Lossesl Income Expenditure Unrestrlcted funds General Funds Pension ReseNe 242,863 879.560 1857.1911 82,811 348,043 1246,0001 114,0001 4000 {256,0001 13,137) 879,560 1871,191) 82.811 4,(X)O 92,043 Restricted funds Property Grant Capital Grants Hospital Hoppa Demand Responswe 146,932 146,932 27,764 25,000 127,7641 {2.1271 122.873} 171.684 {118,784) {52,9201 146,932 224,448 1141.6371 182.811) 146,932 Total of funds 143,795 1.104,008 11.012,8281 4,000 238.975 The property grant of £150,000 was provided by Surrey County Council to purchase the companls eurrent premi8es. The grant Is repayable if the charity ceases to trade. The Hosprtal Hoppa and Demand Responsive funds comprise grant funding for costs in connection wlh these services. Costs have been apportioned in relation lo mileage. The caprtal grant ts funds collected for the purchase of rw buses. Any exces5 of expenses over inLsThe has been met from unrestricted funds and is Sk￿n by transfer. Page 35 WAVERLEY HOPPACOMMUNITY TRANSPORT {A Company Limited by Guaranteè) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 20. Statement of funds (continu￿} Statement of funds - prlor ye•r Bala￿e 8t 31Ma 2020 Balance al A$ tes181ed As reslaled l Apnl 2019 Income Expendilu Tfftnsfèry i￿oul Gain (Lassesj Unrestricted funds General FurKIs Pens¢on Reserve 259. 193 825. 717 (8118.705) (33.342) 242.863 (154,¢￿) 137,CXQJ 15s,L￿) (246,Ct))) 105,193 825,717 {845.705) (33,342) (55,cX(I) (3, 137) Roslrfcted funds Property Gr￿1 C¥>ilal Grants Hosprtal Hoppa tknand Responsive 146,932 146,932 25,996 2&(n) (32,496) 27,461 (52,461) 168.935 (W7,312J 38,377 153,432 219,931 1259,7T31 33,342 146,932 Total of funds 258,625 1,045,648 11, 104478) {55,rxo) 141 T95 WAVERLEY HOPPA COMMUNITY TRANSPORT {A Company Limited by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 21. Analysls of net assets betvmn lunda Analys￿ of net assets between fund•- current year Rgstricted Unrostricted funds funds 2021 2021 Tot•1 funds 2021 Tangible fixed assets Currenl assets Creditors due wrthin one Far Creditors due in more than one yèar Provision5 f￿ Ihqbililies and charges 304,354 167,998 173,2871 151,0221 {2S5,000) 304,354 314,930 {73,2871 151.0221 1256.0001 146,932 Totsl 148,932 92,043 238,975 Anatysis of n•t aMets betmen funds. prfor year Roslricft8d Unreslricled funds funds 2020 2020 Tol81 2020 Tangible fixad assets Cuirenl assets Creditors due within one year Creditors duo in more than one year Provisions for li8bilities and charges 316,970 316,970 19,985 166,917 (73,506) (73,5J6J {20,586) (20,586) f246.000) 1246.(IX)) 146,932 Totsl 146.932 (3, 137) 143.795 Page 37 WAVERLEY HOPPA COMMUNITY TRANSPORT IA Company Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 22. RKonciliatlon of nel movement In funds to net cash flow fvom operating activlllgs Group 2021 Gr(iup Net inccmeloxpendilure for the 185 per Statement of Finanoal Aclivitsesl 91,180 f59,830) Adjustments for: Depreciation charges LO$￿{prOfit) on the sale of assets De¢reasellincrease) in debtors Increasellde¢reasel in creAlilors Non-cash movement on pen5￿ft Iiabilty 60,349 13.1561 5.586 18.5521 14,000 64462 (4.836) 37.0 Net cash provided by operating activiti88 1 $9.407 44,894 23. Analysis of cash and equivalents Group 2021 Group 2020 Cash in hand 203,428 49,829 Totsl cash and cash equi¥alents 203.428 49,829 Analysls of changes In nat debt At 1 Aprfl 2020 Cash flovra At 31 March 2021 Cash at bank and in hw)d Debt due wthin 1 ye¥ Débt due aftw 1 year Finance leases 49,829 153,599 {8,333 41.667) 11.231 203.428 18,3331 141,6671 131,8171 143.0481 6,781 114,830 121.611 P4e 38 WAVERLEY HOPPA COMMUNITY TRANSPORT IA Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 25. PensSon commitments The company operates a defifi￿ contribution pens¢on scheme. The ass*s of the scheme are held separatety frcxm those of crjnpany in an independenlty administered fund. The pension cost charge represents contributions payable by the company lo the fijnd and amounted lo £9,880 {2020 - £10,619). Employee and employei eontributions l01811ing £15612020 - £401 were payable lo the fund at the balance sheet date and are included in credilors. The Group operates a defined benefft pension scheme. chafrty participates in a mults-emF4oyer defined benefrts pensh)n gheme, Surrey C￿jftty Councifs Occupational Pension Scheme. The eonlributions paid duiing the year wefe £40,140 {2020 - £33,481). Conlnbulions lolalling £4,497 payable to the fund12020- £3,898) at the balance sheet date and ale included in creditors. The mc*t recent full actuarol valuation exr1￿ for the ended 31 March 2021 by Hymans Robertson LLP. Principal actuarial assumptions at the Balance S￿t date lexpiessed as weighted averages).. At 31 March At 31 Marti 2021 2020 Discount fate FuluTe salary increases Future penS￿n increases 3.7S At 31 March At 31 March 2021 2020 Y•ars Years Mortality rates lin years) -for a male aged 65 now - at 65 for a male aged 45 n - for a female agejj 65 n04V - at 65 for a female ag￿ 45 now 22.1 22.9 24.3 25.7 23A 26.4 Page 39 WAVERLEY HOPPA COMMUNITY TRANSPORT IA Company Limited by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 P•nsion commltrnents IcoTrtinuedl Ttr* Group's $hare of the assets in the scherne was.. At 31 March At 31 Ma￿h 2021 2020 Equil c￿rate bond8 Propety Cash and other liquid assets 1,076.160 226,560 70,800 42.480 793.2 182,240 75,040 21,440 Total falr valu• of us•ts 1.416,000 1,072,Q adual rdum on scheme assets vrds £25,OC#J (2020- £29.th￿). The amounts recognised in the Consolidated Slalement of Financ181 Aclivilie5 are a$ follows.. 2021 Current ser￿e cc*l Past service cost Inleiesl incorne 48,0( {25,0001 31.000 {29,OOOJ 33,L Interest cost Total amount recognlsèd In the Consolldated Statement of Financial Actlvltl¢s 54.000 70,OCQ Movements in the present value of the defin•J obligalk)n a8 fofovts.. 2021 2020 Opening defined b8nefil obligation Current semce cosl Interest cost Contribut￿S by sc*eme part￿1panIS Actuarial lossesllgainsl Benefits paid 1,318,1)00 48,000 31.IX)O 9.000 292,000 126,0001 1.337,LXXJ 1101,OOOJ (26,000) Closlng defined bonèfbt obllgatlon 1.672,000 1,318,LXXI P46 40 WAVERLEY HOPPA COMMUNITY TRANSPORT (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Pension commltmonts l¢ontinuedl Movements in the fair value of the Group's share of scheme a88ets were as foll¢)ws'. 2021 )20 OpenirrfJ fair value of scheme assets Expected retum on assets Actuarial gainslllossesl Contributions by employer Contributions by scheme participants Benefits paid 1,072,000 25.000 296.000 40,000 9.000 126.000) 1. 183,C 29.￿ (156,OOOJ 33.L (26,CWJ Closing fair val￿e of scheme assets 1,416.000 1,072,tXXJ Amounts for the current and previous period are as folhy4ts.' 2021 2020 Defined b￿erit obligation Scheme assets 11.672,0001 (1.318.LkklJ 1,416,0(10 1,072.1 Net d•llclt {256,CrtIO) (246,(￿) Surrey c￿nty Council have agreed to prowde 8 guarantee for the dofir*l benefrt pensH)n scheme. Page 41 WAVERLEY HOPPA COMMUNITYTRANSPORT IA Company Llmitèd by Guaranleel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Operatlng lease commitments Al 31 Marth 2021 the Group and the company had commitments to make future minimum 18ase payments under nonweancellable operating leases as follcws." Group 2021 Group 2020 Company 2021 Comp8ny 2020 Not later than 1 year L*er than 1 bear and not later than S sears 12,000 18,OiX) io,c 25C 12.000 18.000 10,& 25,CXYI 35.LXXI 30,￿0 35￿0 The fdkthing lease payments haNp baèn recognised as an expense in the Statement of Financol Actrvitses. Group 2021 Group 2020 Company 2021 Company 2020 Opefalirig lee8e rentsls 11.0(N) 10,C