2023-03-31-accounts

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 2023

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

CONTENTS

	Page
Reference and Administrative Details of the Company, its Trustees and Advisers	1
Trustees' Report	2 - 7
Independent Auditor's Report on the Financial Statements	8 - 11
Consolidated Statement of Financial Activities	12
Consolidated Balance Sheet	13 - 14
Company Balance Sheet	15 - 16
Consolidated Statement of Cash Flows	17
Notes to the Financial Statements	18 - 42

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023

Trustees

R H Knight A M Fox J J Brydon

A J D Boughton

R I Stansbury S C Naughalty Dr B S Capper R J H Davies (appointed 19 January 2023)

Company registered number

04989679

Charity registered number

1104954

Registered office

Unit 8 Towergate Business Centre, Coopers Place, Combe Lane, Wormley, Surrey, GU8 5SZ

Company secretary

S Gray

Independent auditor

Shaw Gibbs (Audit) Limited, Wey Court West, Union Road, Farnham, Surrey, GU9 7PT

Page 1

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023

The Trustees (who are also directors of the charity for the purposes of the Companies Act) present their annual report together with the audited financial statements of the group and the company, Waverley Hoppa Community Transport (the company) for the year ended 31 March 2023. The Trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). The Trustees confirm that the Annual report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

Since the group and the company qualify as small under section 383 of the Companies Act 2006, the Group Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 is not required.

Objectives and activities

a. Policies and objectives

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the charity commission relating to public benefit.

Policies and objectives are defined by the Memorandum of Association as refined by the advice of experts and approved by the Board.

b. Strategies for achieving objectives

Strategies for achieving objectives are defined by an annual budget prepared by the General Manager and Board, presented to the local authority and distributed to appropriate parties.

c. Activities for achieving objectives

Activities for achieving objectives are the provision of subsidised transport services in the locality of Waverley Borough and limited commercial services to support the primary activities.

d. Main activities undertaken to further the charity's purposes for public benefit

The organisation’s core activities are the provision of dial-a-ride transport within Waverley Borough to anyone unable to utilise public services by reason of age, disability or remoteness.

The Trustees have given full regard to the Charity Commission’s guidance on public benefit, and are confident that, while our customers clearly benefit from transportation, there is a benefit to the wider public in terms of addressing rural isolation, and promoting the wellbeing and social inclusion of our customers.

e. Volunteers

The company is managed by unpaid Board members, a small professional management team and a staff of employed drivers.

Page 2

WAVERLEY HOPPA COMMUNITY TRANSPORT (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Achievements and performance

a. Key financial performance indicators

The Trustees use two main financial indicators – the proportion of grant funding to total income, and net income or expenditure generated.

Grant funding in the year represented 24% of income (2022: 24%). The Trustees continue to pursue their strategy of contracting commercial routes – to Schools, Day Centres and local Hospitals – to subsidise the core dial-a-ride operation. In this way we have historically been able to minimise the need for increased public funding to maintain our objectives.

In the year to 31 March 2023 the organisation reported net income of £46k (2022: £52k net expenditure).

b. Review of activities

In the period of review the organisation continued to provide transport services within the ambit of the operations described in its original Business Plan.

At the end of the year Hoppa reported a surplus of £265k (2022: £36k). This result is mainly due to an improvement in the SCC local government pension scheme of £219k. Day to day operations remained stable and generated net income of £46k.

The organisation’s core activities are the provision of demand responsive transport within Waverley Borough, mainly assisting those with disabilities and the elderly who are unable to utilise public services by reason of remoteness or access difficulties. These priority services assist in reducing social exclusion among the disadvantaged and in the year some 14,541 passenger trips were made (2022: 13,411). This is still below 2020 levels but shows the recovery post-Covid is continuing.

Other community support services covers school runs – mainly Special Educational Needs – as well as several health-related transport contracts. A total of 44,269 passenger trips were made in this service category during the year (2022: 41,689).

c. Investment policy and performance

There is no policy to invest in assets other than the premises and vehicles utilised for delivering the services.

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.

Page 3

WAVERLEY HOPPA COMMUNITY TRANSPORT (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

b. Financial risk management objectives and policies

The Trustees have identified two main financial risks – loss of grant funding, and the inability to fund replacement of our key capital asset, the vehicles themselves.

In terms of grant funding the largest single amount comes from Waverley Borough Council. Hoppa are in the first year of a new three year Service Level Agreement with Waverley; this agreement provides certainty of income in exchange for quarterly performance reviews. Both parties have found this arrangement to be very beneficial and it was extended for 2022-23, but with lower grant levels. Other grants are received from other County, Town and Parish Councils. Hoppa minimise risk to these grants by maintaining regular contact with all these stakeholders, updating them on our operational and financial situation.

Hoppa operate twenty seven vehicles, mostly minibuses with wheelchair access. There is a Board target to maintain an average vehicle life of between five and six years, with no vehicle being older than twelve years. This gives rise to a capital requirement of over £100k every year to replace older vehicles; the funding for this needs to be provided from net income, capital grants or other fundraising. In terms of risk the Trustees have considered options of debt financing, as well as maintaining vehicles for longer, albeit likely to incur greater repair costs.

c. Financial Results

At the balance sheet date unrestricted funds of £372,697 (2022: £107,106) and restricted funds of £167,051 (2022: £167,432) were held.

d. Reserves policy

There is a monthly review of likely operating expenses and income, grants, donations and requirements for replacing vehicles, all to ensure the ability to continue providing services throughout a forthcoming period of at least 6 months

e. Deficit

In the year to 31 March 2023 Hoppa has reported a surplus of £46k (2022: deficit £52k) before actuarial gains. The Trustees approve an annual budget with a target of generating net income before depreciation, to be used for capital funding. This remains the target for the financial year ending March 2024.

f. Principal Funding

Local authority and government grants, and donations from parish councils and charitable institutions comprise 24% of funding (2021: 24%), the balance being generated by operating income. The reliance on grant funding continues to reduce as a result of a deliberate strategy by the Trustees.

Page 4

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Structure, governance and management

a. Constitution

The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 9 December 2003.

The charity was formed in succession to Waverley Community Transport and assumed all that company's assets and liabilities with effect from 31 March 2004.

The principal object of the company is to provide relief to the inhabitants of the Borough of Waverley in Surrey whose access to transport is affected by age, mental or physical disability, poverty or rural isolation, and in particular to provide and maintain non-profit community transport services and to assist the charitable work of organisations and bodies engaged in promoting relief of such persons through the provision of appropriate services.

The objectives have not been amended during the year.

b. Methods of appointment or election of Trustees

The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum and Articles of Association.

c. Policies adopted for the induction and training of Trustees

All Trustees receive explanatory documentation from Companies House and the Charities Commission and an introductory briefing with the Chairman, Operating Director and General Manager and attend a full Board meeting as an observer before appointment. Subsequently each Board member receives financial results, board minutes, budgets, draft business plans and a health and safety manual.

d. Pay policy for senior staff

The General Manager is the senior member of staff and a key employee. The Trustees policy is to ensure that this employee is remunerated on a par with commercial enterprises, and use a combination of salary and performance bonus to achieve this.

e. Organisational structure and decision making

The Chairman, Operating Director, General Manager and Board meet monthly and are advised quarterly by local authority Councilors and experts. Limits of decision making authority are defined by reference to magnitude and banking mandates by Board authority.

f. Related party relationships

The Trustees and senior staff make a declaration each year concerning related parties. There were no transactions with related parties during the year, other than as disclosed in the notes to the financial statements.

Page 5

WAVERLEY HOPPA COMMUNITY TRANSPORT (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Plans for future periods

In a climate of financial challenge for our local authorities, who are our key sponsors, Hoppa continues to subsidise its core services by bidding for, and winning, contracts to provide community transport routes wherever they fit within the operational criteria.

Members' liability

The Members of the company guarantee to contribute an amount not exceeding £10 to the assets of the company in the event of winding up.

Small Company Provisions

This report 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.

Statement of Trustees' responsibilities

The Trustees (who are also the directors of the company 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 . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view 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 statements, the Trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles of the Charities SORP (FRS 102);

• make judgments and accounting estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Group and the company's transactions and disclose with reasonable accuracy at any time the financial position of the Group and the 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 Group and the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 6

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Disclosure of information to auditor

Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:

• so far as that Trustee is aware, there is no relevant audit information of which the charitable group's auditor is unaware, and

• that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charitable group's auditor is aware of that information.

Approved by order of the members of the board of Trustees and signed on their behalf by:

R I Stansbury Trustee

Date:

Page 7

WAVERLEY HOPPA COMMUNITY TRANSPORT (A Company Limited by Guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WAVERLEY HOPPA COMMUNITY TRANSPORT

Opinion

We have audited the financial statements of Waverley Hoppa Community Transport (the 'parent charitable company') and its subsidiaries (the 'group') for the year ended 31 March 2023 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement 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 applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the Group's and of the parent charitable company's affairs as at 31 March 2023 and of the Group's incoming resources and application of resources, including its income and expenditure for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011.

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 Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 Group's or the parent 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.

Page 8

WAVERLEY HOPPA COMMUNITY TRANSPORT (A Company Limited by Guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WAVERLEY HOPPA COMMUNITY TRANSPORT (CONTINUED)

Other information

The other information comprises the information included in the 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 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.

Opinion on other matters prescribed by the Companies Act 2006

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

• the information given in the Trustees' Report for the financial year for which the financial statements are prepared is consistent with the financial statements.

• the Trustees' Report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our 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 Trustees' Report.

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

• the parent charitable company has not kept adequate and sufficient accounting records, or returns adequate for our audit have not been received from branches not visited by us; or

• the parent charitable company financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of Trustees' remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit; or

• the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' Report and from the requirement to prepare a Strategic Report.

Page 9

WAVERLEY HOPPA COMMUNITY TRANSPORT (A Company Limited by Guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WAVERLEY HOPPA COMMUNITY TRANSPORT (CONTINUED)

Responsibilities of trustees

As explained more fully in the Trustees' Responsibilities Statement, 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 Group's and the parent 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 Group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

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:

We gained an understanding of the legal and regulatory framework applicable to the Group and parent charitable company and the industry in which they operate, and considered the risk of acts by the Group and parent charitable company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006, the Charities Act 2011 and UK tax legislation.

Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the Trustees that represented a risk of material misstatement due to fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report.

Page 10

WAVERLEY HOPPA COMMUNITY TRANSPORT (A Company Limited by Guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WAVERLEY HOPPA COMMUNITY TRANSPORT (CONTINUED)

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company's trustees, as a body, 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 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 charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Mark Dickinson FCA (Senior Statutory Auditor)

for and on behalf of

Shaw Gibbs (Audit) Limited Statutory Auditor Wey Court West Union Road Farnham Surrey GU9 7PT

Date:

Page 11

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023

Note Income from: Donations and legacies 3 Charitable activities 4 Other trading activities 5 Other income 6 Total income Expenditure on: Raising funds 8 Charitable activities 9 Total expenditure Net income/(expenditure) Transfers between funds 19 Net movement in funds before other recognised gains/(losses) Other recognised gains/(losses): Actuarial gains on defined benefit pension schemes 25 Unrecognised surplus on defined benefit pension schemes Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward	Restricted funds 2023 £ 104,255 162,933 - - 267,188 - 218,891 218,891 48,297 (48,678) (381) - - (381) 167,432 (381) 167,051	Unrestricted funds 2023 £ 6,235 18,519 889,332 24,364 938,450 4,561 935,976 940,537 (2,087) 48,678 46,591 279,000 (60,000) 265,591 107,106 265,591 372,697	Total funds 2023 £ 110,490 181,452 889,332 24,364 1,205,638 4,561 1,154,867 1,159,428 46,210 - 46,210 279,000 (60,000) 265,210 274,538 265,210 539,748	Total funds 2022 £ 72,679 173,826 755,952 19,785 1,022,242 5,073 1,069,606 1,074,679 (52,437) - (52,437) 88,000 - 35,563 238,975 35,563 274,538

The Consolidated Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 18 to 42 form part of these financial statements.

Page 12

WAVERLEY HOPPA COMMUNITY TRANSPORT (A Company Limited by Guarantee) REGISTERED NUMBER: 04989679

CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2023

Note Fixed assets Tangible assets 14 Current assets Debtors 16 Cash at bank and in hand Creditors: amounts falling due within one year 17 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 18 Net assets excluding pension asset / liability Defined benefit pension scheme asset / liability 25 Total net assets Charity funds Restricted funds 19 Unrestricted funds Unrestricted funds excluding pension asset 19 Pension reserve 19 Total unrestricted funds 19 Total funds	176,028 221,900 397,928 (131,410) 372,697 -	2023 £ 365,347 266,518 631,865 (92,117) 539,748 - 539,748 167,051 372,697 539,748	104,498 176,614 281,112 (65,351) 302,106 (195,000)	2022 £ 286,704 215,761 502,465 (32,927) 469,538 (195,000) 274,538 167,432 107,106 274,538

Page 13

WAVERLEY HOPPA COMMUNITY TRANSPORT (A Company Limited by Guarantee) REGISTERED NUMBER: 04989679

CONSOLIDATED BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2023

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

R H Knight R I Stansbury Trustee Trustee

Date:

The notes on pages 18 to 42 form part of these financial statements.

Page 14

WAVERLEY HOPPA COMMUNITY TRANSPORT (A Company Limited by Guarantee) REGISTERED NUMBER: 04989679

COMPANY BALANCE SHEET AS AT 31 MARCH 2023

Note Fixed assets Tangible assets 14 Investments 15 Current assets Debtors 16 Cash at bank and in hand Creditors: amounts falling due within one year 17 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 18 Net assets excluding pension asset / liability Defined benefit pension scheme asset / liability 25 Total net assets Charity funds Restricted funds: Restricted funds 19 Total restricted funds 19 Unrestricted funds Unrestricted funds excluding pension asset / liability 19 Pension reserve 19 Total unrestricted funds 19 Total funds	280,437 112,290 392,727 (126,209) 167,051 372,698 -	2023 £ 365,347 1 365,348 266,518 631,866 (92,117) 539,749 - 539,749 167,051 372,698 539,749	197,564 78,348 275,912 (60,151) 167,432 302,107 (195,000)	2022 £ 286,704 1 286,705 215,761 502,466 (32,927) 469,539 (195,000) 274,539 167,432 107,107 274,539

Page 15

WAVERLEY HOPPA COMMUNITY TRANSPORT (A Company Limited by Guarantee) REGISTERED NUMBER: 04989679

COMPANY BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2023

The company's net movement in funds for the year was £ 325,210 (2022 - £35,564) .

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

R H Knight R I Stansbury Trustee Trustee

Trustee

Date:

The notes on pages 18 to 42 form part of these financial statements.

Page 16

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023

Note Cash flows from operating activities Net cash used in operating activities 21 Cash flows from investing activities Proceeds from the sale of tangible fixed assets Purchase of tangible fixed assets Net cash used in investing activities Cash flows from financing activities Repayments of borrowing New finance leases Net cash provided by/(used in) financing 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 22	2023 £ 122,151 - (144,540) (144,540) (27,903) 95,578 67,675 45,286 176,614 221,900	2022 £ 38,357 3,000 (39,555) (36,555) (28,616) - (28,616) (26,814) 203,428 176,614

The notes on pages 18 to 42 form part of these financial statements

Page 17

WAVERLEY HOPPA COMMUNITY TRANSPORT (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1. General information

Waverley Hoppa Community Transport is a private company limited by guarantee, incorporated in England. The registered office address is Unit 8 Towergate Business Centre, Coopers Place, Combe Lane, Wormley, Godalming, Surrey, GU8 5SZ. The registered company number is 04989679.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Waverley Hoppa Community Transport meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The Consolidated Statement of Financial Activities (SOFA) and Consolidated Balance Sheet consolidate the financial statements of the company and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.

The company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Financial Activities in these financial statements.

2.2 Going concern

The company reported a surplus for the year of £46k before actuarial gains.

The Trustees believe that their growth strategies – particularly in providing transport services for the NHS - will ensure that the company continues to be a going concern at present. However they also acknowledge that there are longer term issues that will have an impact, including: financial pressures on local council funding; the requirement to refresh the ageing fleet of vehicles; the aim to introduce electric vehicles to this fleet, at a much higher initial cost; and the continued uncertainties caused by Covid.

2.3 Income

All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Incoming resources from charitable activities are recognised when the service has been provided.

Grants are included in the Consolidated Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Page 18

WAVERLEY HOPPA COMMUNITY TRANSPORT (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

2. Accounting policies (continued)

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.

Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs.

All costs are charged to restricted or unrestricted expenses based on mileage.

2.5 Taxation

The company is considered to meet the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received, to the extent that such income or gains are applied exclusively to charitable purposes.

2.6 Tangible fixed assets and depreciation

Tangible fixed assets are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives,

Depreciation is provided on the following bases:

• Leasehold property 50 years straight line Motor vehicles - 25% reducing balance - Fittings and equipment 50% straight line and 25% reducing balance

2.7 Investments

Investments in subsidiaries are valued at cost less provision for impairment.

Page 19

WAVERLEY HOPPA COMMUNITY TRANSPORT (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

2. Accounting policies (continued)

2.8 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.9 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.10 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

2.11 Financial instruments

The Group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.12 Finance leases and hire purchase

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the Group. Obligations under such agreements are included in creditors, net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Consolidated Statement of Financial Activities so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

2.13 Operating leases

Rentals paid under operating leases are charged to the Consolidated Statement of Financial Activities on a straight line basis over the lease term.

Page 20

WAVERLEY HOPPA COMMUNITY TRANSPORT (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

2. Accounting policies (continued)

2.14 Pensions

The Group operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Group to the fund in respect of the year.

The Group operates a defined benefits pension scheme and the pension charge is based on a full actuarial valuation dated 31 March 2023.

The liability recognised on the balance sheet in respect of the defined benefit plan is the present value of the defined benefit obligation at the end of the reporting date less the fair value of the plan assets at the reporting date.

The defined benefit obligation is calculated using the projected unit credit method. Annually the company engages independent actuaries to calculate the obligation. The present value is determined by discounting the estimated future payments using market yields on high quality corporate bonds that are denominated in sterling and that have terms approximating the estimated period of future payments.

The fair value of plan assets is measured in accordance with the FRS 102 fair value hierarchy.

2.15 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other 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 Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

2.16 Group VAT registration

The company is part of a group VAT registration with Hoppa Limited. Waverley Hoppa Community Transport is the nominated company, responsible for submitting the returns and for making the payments on behalf of the companies in the group VAT registration.

3. Income from donations and legacies

Donations Grants Total 2023	Restricted funds 2023 Unrestricted funds 2023 £ £ 49,255 2,785 55,000 3,450 104,255 6,235	Total funds 2023 £ 52,040 58,450
		110,490

Page 21

WAVERLEY HOPPA COMMUNITY TRANSPORT (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

3. Income from donations and legacies (continued)

Donations Grants Total 2022	Restricted funds 2022 £ 15,500 40,000 55,500	Unrestricted funds 2022 £ 2,734 14,445 17,179	Total funds 2022 £ 18,234 54,445
			72,679

4. Income from charitable activities

Transport Performance related grants Total 2023 Transport Performance related grants Total 2022	Restricted funds 2023 £ - 162,933 162,933 Restricted funds 2022 £ - 154,814 154,814	Unrestricted funds 2023 £ 18,519 - 18,519 Unrestricted funds 2022 £ 19,012 - 19,012	Total funds 2023 £ 18,519 162,933
			181,452
			Total funds 2022 £ 19,012 154,814
			173,826

Page 22

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

5. Income from other trading activities

Income from non charitable trading activities

Subsidiary company income Subsidiary company income 6. Other incoming resources Sundry income Sundry income	Unrestricted funds 2023 £ 889,332 Unrestricted funds 2022 £ 755,952 Unrestricted funds 2023 £ 24,364 Unrestricted funds 2022 £ 19,785	Total funds 2023 £ 889,332 Total funds 2022 £ 755,952 Total funds 2023 £ 24,364 Total funds 2022 £ 19,785

Page 23

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

7. Government grants

During the year the charity received the following grants from government bodies.

Waverley Borough Council Surrey County Council Haslemere Town Council Farnham Town Council Godalming Town Council Chiddingfold Parish Council Government OLEV Grant Coronavirus job retention scheme	2023 £ 95,000 61,933 5,000 30,000 5,000 1,925 6,000 - 204,858	2022 £ 113,000 46,814 5,000 10,000 5,000 1,200 - 13,145
		194,159

8. Expenditure on raising funds Other trading expenses

Subsidiary company expenses Subsidiary company expenses	Unrestricted funds 2023 £ 4,561 Unrestricted funds 2022 £ 5,073	Total funds 2023 £ 4,561
		Total funds 2022 £ 5,073

Page 24

WAVERLEY HOPPA COMMUNITY TRANSPORT (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

9. Analysis of expenditure on charitable activities

Summary by fund type

Transport services Transport services	Restricted funds 2023 Unrestricted funds 2023 £ £ 218,891 935,976 Restricted funds 2022 Unrestricted funds 2022 £ £ 219,413 850,193	Total 2023 £ 1,154,867
		Total 2022 £ 1,069,606

10. Analysis of expenditure by activities

Transport services Transport services	Activities undertaken directly 2023 £ 850,977 Activities undertaken directly 2022 £ 744,730	Support costs 2023 £ 303,890 Support costs 2022 £ 324,876	Total funds 2023 £ 1,154,867
			Total funds 2022 £ 1,069,606

Page 25

WAVERLEY HOPPA COMMUNITY TRANSPORT (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

10. Analysis of expenditure by activities (continued)

Analysis of direct costs

Vehicle costs Vehicle storage costs Staff costs Training costs Depreciation and (profit)/loss on disposal Total 2023	Transport 2023 £ 188,089 17,132 580,921 2,017 62,818 850,977	Total funds 2023 £ 188,089 17,132 580,921 2,017 62,818
		850,977

Vehicle costs Vehicle storage costs Staff costs Training costs Depreciation and (profit)/loss on disposal Total 2022	Transport 2022 £ 155,089 13,300 520,465 4,005 51,871 744,730	Total funds 2022 £ 155,089 13,300 520,465 4,005 51,871
		744,730

Page 26

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

10. Analysis of expenditure by activities (continued)

Analysis of support costs

Net finance expense on defined benefit pension Staff costs Depreciation Establishment costs Staff related costs Telephone Postage & stationery Advertising and marketing IT development and maintenance Accountancy & bookkeeping Entertainment Health & safety and professional fees Sundry costs Public relations Governance costs Total 2023	Transport 2023 £ 6,000 226,831 3,079 12,311 3,008 4,826 1,951 2,326 10,850 6,500 3,363 2,202 8,829 6,744 5,070 303,890	Total funds 2023 £ 6,000 226,831 3,079 12,311 3,008 4,826 1,951 2,326 10,850 6,500 3,363 2,202 8,829 6,744 5,070
		303,890

Page 27

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

10. Analysis of expenditure by activities (continued)

Analysis of support costs (continued)

11.

Net finance expense on defined benefit pension Staff costs Depreciation Establishment costs Staff related costs Telephone Postage & stationery Advertising and marketing IT development and maintenance Accountancy & bookkeeping Health & safety and professional fees Sundry costs Public relations Governance costs Total 2022 Auditor's remuneration Fees payable to the company's auditor for the audit of the company's annual accounts Fees payable to the company's auditor in respect of: All non-audit services not included above	Transport 2022 £ 5,000 250,134 3,079 9,471 3,050 6,842 2,640 1,771 10,797 5,680 2,803 13,174 5,460 4,975 324,876 2023 £ 5,070 3,085	Total funds 2022 £ 5,000 250,134 3,079 9,471 3,050 6,842 2,640 1,771 10,797 5,680 2,803 13,174 5,460 4,975
		324,876
		2022 £ 4,975 3,020

Page 28

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

12. Staff costs

Wages and salaries Social security costs Pension contributions Defined benefit pension adjustment	Group 2023 £ 700,579 49,011 13,161 45,000 807,751	Group 2022 £ 651,134 43,455 12,010 64,000 770,599	Company 2023 £ 700,579 49,011 13,161 45,000 807,751	Company 2022 £ 651,134 43,455 12,010 64,000
				770,599

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

Management and administration Despatchers Drivers	Group 2023 No. 2 3 33 38	Group 2022 No. 2 3 33 38	Company 2023 No. 2 3 33 38	Company 2022 No. 2 3 33
				38

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

		Group	Group
		2023	2022
		No.	No.
In the band £60,001	- £70,000	1	-

The total employee benefits, including employer pension contributions, of the key management personnel were £69,507 (2022 - £97,644).

Page 29

WAVERLEY HOPPA COMMUNITY TRANSPORT (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

13. Trustees' remuneration and expenses

During the year, one or more Trustees has been paid remuneration or has received other benefits from an employment with the company. This is for services provided as General Manager and is permitted by the governing documents. The value of Trustees' remuneration and other benefits was as follows:

		2023	2022
		£	£
R J H Davies	Remuneration	60,000	-
	Pension contributions paid	1,853	-

During the year ended 31 March 2023, expenses totalling £ 351 were reimbursed or paid directly to 2 Trustees (2022 - £314 to 1 Trustee) .

14. Tangible fixed assets

Group

Cost or valuation At 1 April 2022 Additions At 31 March 2023 Depreciation At 1 April 2022 Charge for the year At 31 March 2023 Net book value At 31 March 2023 At 31 March 2022	Long-term leasehold property £ 153,934 - 153,934 55,150 3,079 58,229 95,705 98,784	Plant and machinery £ 656,798 144,540 801,338 468,878 62,819 531,697 269,641 187,920	Total £ 810,732 144,540
			955,272
			524,028 65,898
			589,926
			365,346
			286,704

Page 30

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

14. Tangible fixed assets (continued)

Company

Cost or valuation At 1 April 2022 Additions At 31 March 2023 Depreciation At 1 April 2022 Charge for the year At 31 March 2023 Net book value At 31 March 2023 At 31 March 2022	Long-term leasehold property £ 153,934 - 153,934 55,150 3,079 58,229 95,705 98,784	Plant and machinery £ 656,798 144,540 801,338 468,878 62,819 531,697 269,641 187,920	Total £ 810,732 144,540
			955,272
			524,028 65,898
			589,926
			365,346
			286,704

The net book value of assets held under finance leases or hire purchase contracts, included above, are £134,452 (2022 - £28,376)

Page 31

WAVERLEY HOPPA COMMUNITY TRANSPORT (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

15. Fixed asset investments

company Cost or valuation At 1 April 2022 At 31 March 2023 Net book value At 31 March 2023 At 31 March 2022	Investments in subsidiary companies £ 1
	1
	1
	1

Principal subsidiaries

The following was a subsidiary undertaking of the company:

Name		Company	Holding	Included in	Included in
		number		consolidation
Hoppa Limited		08793063	100%	Yes
The financial results of the subsidiary for the year were:
Name	Income	Expenditure	Profit/(Loss)		Net assets
	£	£	/ Surplus/		£
			(Deficit) for
			the year
			£
Hoppa Limited	889,332	(802,844)	86,488		1

Page 32

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

16. Debtors

Due within one year Trade debtors Amounts owed by group undertakings Other debtors Prepayments and accrued income	Group 2023 £ 135,298 - 29,466 11,264 176,028	Group 2022 £ 79,676 - 11,507 13,315 104,498	Company 2023 £ 432 239,275 29,466 11,264 280,437	Company 2022 £ - 172,742 11,507 13,315
				197,564

17. Creditors: Amounts falling due within one year

Bank loans Trade creditors Obligations under finance lease and hire purchase contracts Other creditors Accruals and deferred income	Group 2023 £ 10,702 8,587 18,057 46,714 47,350 131,410	Group 2022 £ 10,423 8,657 9,851 6,247 30,173 65,351	Company 2023 £ 10,702 8,587 18,057 46,714 42,149 126,209	Company 2022 £ 10,423 8,657 9,851 6,247 24,973
				60,151

The net obligations under finance leases and hire purchase contracts are secured over the leased assets.

Page 33

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

18. Creditors: Amounts falling due after more than one year

Bank loans Net obligations under finance lease and hire purchase contracts	Group 2023 £ 21,667 70,450 92,117	Group 2022 £ 31,667 1,260 32,927	Company 2023 £ 21,667 70,450 92,117	Company 2022 £ 31,667 1,260
				32,927

The net obligations under finance leases and hire purchase contracts are secured over the leased assets.

Included within the above are amounts falling due as follows:

Between one and two years Bank loans Between two and five years Bank loans	Group 2023 £ 10,000 11,667	Group 2022 £ 10,000 21,667	Company 2023 £ 10,000 11,667	Company 2022 £ 10,000 21,667

The bounce back loan was obtained in May 2020 and the first repayment was made in June 2021. Interest is payable at 2.5% per annum and was paid by the Government for the first 12 months of the loan.

Page 34

WAVERLEY HOPPA COMMUNITY TRANSPORT (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

19. Statement of funds

Statement of funds - current year

Balance at 1 April 2022 £ Unrestricted funds General Funds 302,106 Pension reserve (195,000) 107,106 Restricted funds Property Grant 146,932 Capital Grants 15,500 Hospital Hoppa - Demand Responsive - Apprentice Fund 5,000 167,432 Total of funds 274,538	Income £ 938,449 - 938,449 - 90,374 20,000 156,814 - 267,188 1,205,637	Expenditure £ (916,536) (24,000) (940,536) - - (22,525) (196,366) - (218,891) (1,159,427)	Transfers in/out £ 48,678 - 48,678 - (90,755) 2,525 39,552 - (48,678) -	Gains/ (Losses) £ - 219,000 219,000 - - - - - - 219,000	Balance at 31 March 2023 £ 372,697 -
					372,697
					146,932 15,119 - - 5,000
					167,051
					539,748

The property grant of £150,000 was provided by Surrey County Council to purchase the company's current premises. The grant is repayable if the charity ceases to trade.

The Hospital Hoppa and Demand Responsive funds comprise grant funding for costs in connection with these services. Costs have been apportioned in relation to mileage.

The capital grant is funds collected for the purchase of new buses and associated equipment.

Any excess of expenses over income has been met from unrestricted funds and is shown by transfer.

Page 35

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

19. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds General Funds Pension reserve Restricted funds Property Grant Capital Grants Hospital Hoppa Demand Responsive Apprentice Fund Total of funds	Balance at 1 April 2021 £ 348,043 (256,000) 92,043 146,932 - - - - 146,932 238,975	Income £ 811,928 - 811,928 - 15,500 20,000 169,814 5,000 210,314 1,022,242	Expenditure £ (828,266) (27,000) (855,266) - - (26,915) (192,498) - (219,413) (1,074,679)	Transfers in/out £ (29,599) - (29,599) - - 6,915 22,684 - 29,599 -	Gains/ (Losses) £ - 88,000 88,000 - - - - - - 88,000	Balance at 31 March 2022 £ 302,106 (195,000) 107,106 146,932 15,500 - - 5,000 167,432 274,538

Page 36

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

20. Analysis of net assets between funds

Analysis of net assets between funds - current year

Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year Provisions for liabilities and charges Total Analysis of net assets between funds - prior year Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year Provisions for liabilities and charges Total	Restricted funds 2023 £ 146,932 20,119 - - - 167,051 Restricted funds 2022 £ 146,932 20,500 - - - 167,432	Unrestricted funds 2023 £ 218,415 377,809 (131,410) (92,117) - 372,697 Unrestricted funds 2022 £ 139,772 260,612 (65,351) (32,927) (195,000) 107,106	Total funds 2023 £ 365,347 397,928 (131,410) (92,117) - 539,748 Total funds 2022 £ 286,704 281,112 (65,351) (32,927) (195,000) 274,538

Page 37

WAVERLEY HOPPA COMMUNITY TRANSPORT (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

21. Reconciliation of net movement in funds to net cash flow from operating activities

Net income/expenditure for the year (as per Statement of Financial Activities) Adjustments for: Depreciation charges Loss/(profit) on the sale of fixed assets (Increase)/Decrease in debtors Increase in creditors Non-cash movement on pension liability Net cash provided by operating activities	Group 2023 £ 46,210 65,898 - (71,530) 57,573 24,000 122,151	Group 2022 £ (52,437)
		56,051 (1,846) 7,004 2,585 27,000
		38,357

22. Analysis of cash and cash equivalents Cash in hand Total cash and cash equivalents	Group 2023 £ 221,900 221,900	Group 2022 £ 176,614
		176,614

23. Analysis of changes in net debt

Cash at bank and in hand Debt due within 1 year Debt due after 1 year Finance leases	At 1 April 2022 £ 176,614 (10,423) (31,667) (11,111) 123,413	Cash flows £ 45,286 9,721 - (77,396) (22,389)	Other non- cash changes £ - (10,000) 10,000 - -	At 31 March 2023 £ 221,900 (10,702) (21,667) (88,507)
				101,024

Page 38

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

24. Capital commitments

	Group	Group	Company	Company
	2023	2022	2023	2022
	£	£	£	£
Contracted for but not provided in these
financial statements
Acquisition of tangible fixed assets	-	64,455	-	64,455

25. Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £13,276 (2022 - £11,407). Employee and employer contributions totalling £617 (2022 - £509) were payable to the fund at the balance sheet date and are included in creditors.

The Group operates a defined benefit pension scheme.

The charity participates in a multi-employer defined benefits pension scheme, Surrey County Council's Occupational Pension Scheme.

The contributions paid during the year were £26,886 (2022 - £42,603). Contributions totalling £2,988 were payable to the fund (2022 - £5,738) at the balance sheet date and are included in creditors.

The most recent full actuarial valuation was carried out for the year ended 31 March 2022 by Hymans Robertson LLP.

Principal actuarial assumptions at the Balance Sheet date (expressed as weighted averages):

	At 31 March	At 31 March
	2023	2022
	%	%
Discount rate	4.75	2.7
Future salary increases	4.0	4.2
Future pension increases	3.0	3.3

	At 31 March	At 31 March
	2023	2022
	Years	Years
Mortality rates (in years)
- for a male aged 65 now	21.8	22.1
- at 65 for a male aged 45 now	21.2	23.1
- for a female aged 65 now	25.4	24.5
- at 65 for a female aged 45 now	26.1	26.2

Page 39

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

25. Pension commitments (continued)

The Group's share of the assets in the scheme was:

Equities Corporate bonds Property Cash and other liquid assets Total fair value of assets	At 31 March 2023 £ 868,480 366,390 94,990 27,140 1,357,000	At 31 March 2022 £ 932,480 378,820 116,560 29,140
		1,457,000

The actual return on scheme assets was £39,000 (2022 - £28,000) .

The amounts recognised in the Consolidated Statement of Financial Activities are as follows:

Current service cost Interest income Interest cost Total amount recognised in the Consolidated Statement of Financial Activities	2023 £ 45,000 (39,000) 45,000 51,000	2022 £ 64,000 (28,000) 33,000
		69,000

Movements in the present value of the defined benefit obligation were as follows:

Opening defined benefit obligation Current service cost Interest cost Contributions by scheme participants Actuarial gains Benefits paid Closing defined benefit obligation	2023 £ 1,652,000 45,000 45,000 5,000 (415,000) (35,000) 1,297,000	2022 £ 1,672,000 64,000 33,000 10,000 (92,000) (35,000)
		1,652,000

Page 40

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

25. Pension commitments (continued)

Movements in the fair value of the Group's share of scheme assets were as follows:

Opening fair value of scheme assets Expected return on assets Actuarial losses Contributions by employer Contributions by scheme participants Benefits paid Closing fair value of scheme assets	2023 £ 1,457,000 39,000 (136,000) 27,000 5,000 (35,000) 1,357,000	2022 £ 1,416,000 28,000 (4,000) 42,000 10,000 (35,000) 1,457,000

The Group has an unrecognised surplus of £60,000 (2022 - £ -) in respect of its defined benefit pension scheme as it does not expect to recover the plan surplus either through reduced contributions in the future or through refunds from the plan.

.

Amounts for the current and previous period are as follows:

Defined benefit obligation Scheme assets Unrecognised surplus Net surplus/(deficit)	2023 £ (1,297,000) 1,357,000 (60,000) -	2022 £ (1,652,000) 1,457,000 - (195,000)

Surrey County Council have agreed to provide a guarantee for the defined pension scheme.

Page 41

WAVERLEY HOPPA COMMUNITY TRANSPORT (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

26. Operating lease commitments

At 31 March 2023 the Group and the company had commitments to make future minimum lease payments under non-cancellable operating leases as follows:

Not later than 1 year Later than 1 year and not later than 5 years	Group 2023 £ 6,000 - 6,000	Group 2022 £ 12,000 6,000 18,000	Company 2023 £ 6,000 - 6,000	Company 2022 £ 12,000 6,000
				18,000

The following lease payments have been recognised as an expense in the Statement of Financial Activities:

	Group	Group	Company	Company
	2023	2022	2023	2022
	£	£	£	£
Operating lease rentals	12,000	12,000	12,000	12,000

27. Members' liability

Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £10 for the debts and liabilities contracted before he/she ceases to be a member.

28. Related party transactions

During the year the company traded with Hoppa Limited, a wholly owned subsidiary. Total sales, in the form of recharged costs, amounted to £798,283 (2022: £680,357).

During the year gift aid distributions of £86,488 (2022: £70,522) was receivable from Hoppa Limited.

At the year end, Hoppa Limited owed the company £239,275 (2022: £172,742).

Page 42

Document Activity Report

Document Sent

Tue, 15 Aug 2023 12:09:51 GMT

Document Activity History

Document history shows most recent activity first

Date

Activity

You can verify that this is a genuine Portal document by uploading it to the following secure web page:

http://wiseandco.accountantspace.co.uk/messages/VerifyDocument