**REGISTERED COMPANY NUMBER: 01515143 (England and Wales) REGISTERED CHARITY NUMBER: 1105202**
## **REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **FOR**
**BEXHILL COMMUNITY BUS LIMITED (A COMPANY LIMITED BY GUARANTEE)**
Gibbons Mannington & Phipps LLP Chartered Accountants 20 Eversley Road Bexhill-on-Sea East Sussex TN40 1HE
**BEXHILL COMMUNITY BUS LIMITED**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022**
||**Page**|**Page**|**Page**|
|---|---|---|---|
|**Report of the Trustees**|1|to|3|
|**Independent Examiner's Report**||4||
|**Statement of Financial Activities**||5||
|**Balance Sheet**|6|to|7|
|**Notes to the Financial Statements**|8|to|14|
**BEXHILL COMMUNITY BUS LIMITED**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2022**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st December 2022. The trustees have adopted the provisions of 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).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
To provide a community transport service for such of inhabitants of Bexhill and its neighbourhood who are in need of such a service because of age, sickness or disability (mental or physical) or poverty or because of a lack of availability of adequate and safe public passenger services.
## **Public benefit**
The Trustees have had due regard to public benefit guidance published by the Charity Commission, and in their opinion the report on the achievements and performance demonstrates that they have complied therewith.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
In 2021 the company investigated alternative routes and carried out a substantial number of timing runs. In May 2022 the new routes were implemented following extensive liaison with East Sussex County Council and approval from the Traffic Commissioners.At the same time adult single fares were increased to £1.20, the first increase since 2015.The new routes have proved very popular with passengers and the company has received some very complimentary feedback.
In August the company implemented electronic ticketing and - despite some initial teething problems - this has brought a number of positives for the company including the displaying of our services on the electronic bus signs and a large amount of data on route and bus stop usage.
Passenger numbers again showed an upturn with 28,206 passengers carried representing a 17% increase on 2021 (24,068 passengers).Passenger numbers however have not yet returned to pre-pandemic levels and are still nearly 28% below those of 2019 (39,005 passengers).
Whilst expenditure was up by around 23%, income was also up by around 13% (both after stripping out extraordinary items) and the company received some welcome donations.The company's finances remain healthy - partly due to the maintenance of the reimbursement for concessionary passes at pre-COVID levels by the authorities.However, the reimbursement for concessionary passes reverts to payment against actual passenger numbers from April 2023 so the company will continue to look to attract new passengers.
Whilst volunteer numbers remain consistent the company will be looking to recruit further volunteers in 2023 to increase flexibility.
Page 1
**BEXHILL COMMUNITY BUS LIMITED**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **FINANCIAL REVIEW**
## **Financial position**
Thanks to the continued support of East Sussex County Council the total fare receipts have increased by a small amount despite the passenger numbers remaining below pre-pandemic levels. Overall income had increased due mainly to a legacy of £3,000 and grants from East Sussex County Council totalling £4,737 towards the cost of the two new electronic ticket machines, driver training and printing timetables.
The costs of running, maintaining, taxing and insuring the vehicles has increased mainly due to the increase in the price of fuel.
The overall deficit before the unrealised loss on the shares was £9,393 which was an improvement to the 2021 deficit of £16,172.
The charity was able to increase its investments during the year with a view to generating both additional income and capital growth by purchasing additional shares with its spare funds. However the value of the shares at the year end had reduced considerably and there was an unrealised loss of £25,659.
The overall deficit for the year was £35,052 which is deducted from the general fund to give a balance of £290,191 to carry forward to next year.
## **Investment policy and objectives**
Spare capital has been invested to produce investment income in a safe environment and the portfolio is managed by Handelsbanken Wealth & Asset Management, the Charity's stockbrokers. Income generated is currently being added to the capital in order to provide Capital growth towards the cost of new buses in the future.
## **Reserves policy**
The Charity will retain sufficient reserves to enable it to deal with the timely replacement of buses and other working assets in line with its regular replacement policy. Reserves are invested in LF Hb Cautious Multi Asset Fund B Accumulation Shares.
## **FUTURE PLANS**
Plans for future periods
In 2023, the Company aims to:
- continue to seek and train more volunteers,
- conduct at least one passenger survey,
- enable fare-paying passengers to pay by debit card and
- look for further sources of funding
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The Company was incorporated on 1st September 1980, subsequently it was agreed in that any taxable profits made would be covenanted to Bexhill Council of Voluntary Services. Due to the winding up of this organisation, the Company sought Charity Commission approval for registration as a Charity in its own right. The application was approved and the Company was registered as a Charity on 29th July 2004. The Charity/Company is controlled by its Memorandum and Articles of Association as amended by Special Resolutions dated 13th May, 9th July 2004 and 16th March 2022.
## **Structure and management**
The power of appointing new or additional Trustees/Directors is vested in the Trustees/Directors.
Any policy decisions are taken by the Trustees/Directors. There were no changes in policy during the year.
Page 2
**BEXHILL COMMUNITY BUS LIMITED**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 01515143 (England and Wales)
**Registered Charity number** 1105202
## **Registered office**
Unit 2 Beeching Close Bexhill-on-Sea East Sussex TN39 3YF
## **Trustees**
P W Lee (resigned 8/3/2022) A L Hymans B Cann (resigned 6/9/2022) S Hardie J Pacitti B Drayson Mrs L Langlands D Everiss P Brett (appointed 6/9/2022) Mrs E White (appointed 6/9/2022)
## **Independent Examiner**
Samantha Whiting FCA Gibbons Mannington & Phipps LLP Chartered Accountants 20 Eversley Road Bexhill-on-Sea East Sussex TN40 1HE
## **Bankers**
Lloyds TSB Bank 11/13 Devonshire Road Bexhill-on-Sea East Sussex TN40 1AQ
## **Solicitors**
Gaby Hardwicke 34 Wellington Square Hastings, East Sussex TN34 1PN
## **Stockbrokers**
Handelsbanken Wealth & Asset Management No 1 Kingsway, London WC2B 6AN
Approved by order of the board of trustees on 11th April 2023 and signed on its behalf by:
S Hardie - Trustee
Page 3
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BEXHILL COMMUNITY BUS LIMITED**
## **Independent examiner's report to the trustees of Bexhill Community Bus Limited ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st December 2022.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Samantha Whiting FCA
Gibbons Mannington & Phipps LLP Chartered Accountants 20 Eversley Road Bexhill-on-Sea East Sussex TN40 1HE
19th April 2023
Page 4
**BEXHILL COMMUNITY BUS LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2022**
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
**5,394**
**Charitable activities**
Fare receipts
**31,823**
Fuel duty rebates
**2,040**
Garage rents
**1,600**
Other trading activities
3
**80**
Investment income
4
**2,067**
**Total**
**43,004**
**EXPENDITURE ON**
**Charitable activities**
5
Community buses
**40,139**
Office and other costs
**10,386**
Garage costs
**4,645**
**Total**
**55,170**
Net gains/(losses) on investments
**(25,659)**
**NET INCOME/(EXPENDITURE)**
**(37,825)**
**Transfers between funds**
16
**2,773**
**Net movement in funds**
**(35,052)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**325,243**
**TOTAL FUNDS CARRIED FORWARD**
**290,191**|Restricted
fund
£
**2,773**
**-**
**-**
**-**
**-**
**-**
**2,773**
**-**
**-**
**-**
**-**
**-**
**2,773**
**(2,773)**
**-**
**-**
**-**|**2022**
**Total**
**funds**
**£**
**8,167**
**31,823**
**2,040**
**1,600**
**80**
**2,067**
**45,777**
**40,139**
**10,386**
**4,645**
**55,170**
**(25,659)**
**(35,052)**
**-**
**(35,052)**
**325,243**
**290,191**|_2021_
_Total_
_funds_
_£_
_1,501_
_30,087_
_2,053_
_1,200_
_-_
_2,108_
_36,949_
_41,715_
_8,033_
_3,373_
_53,121_
_8,924_
_(7,248)_
_-_
_(7,248)_
_332,491_
_325,243_|
|---|---|---|---|
The notes form part of these financial statements
Page 5
**BEXHILL COMMUNITY BUS LIMITED**
## **BALANCE SHEET 31ST DECEMBER 2022**
|Unrestricted
fund
Notes
£
**FIXED ASSETS**
Tangible assets
11
**62,372**
Investments
12
**210,843**
**273,215**
**CURRENT ASSETS**
Debtors
13
**2,424**
Cash at bank and in hand
**15,707**
**18,131**
**CREDITORS**
Amounts falling due within one year
14
**(1,155)**
**NET CURRENT ASSETS**
**16,976**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**290,191**
**NET ASSETS**
**290,191**
**FUNDS**
16
Unrestricted funds
**TOTAL FUNDS**|Restricted
fund
£
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**2022**
**Total**
**funds**
**£**
**62,372**
**210,843**
**273,215**
**2,424**
**15,707**
**18,131**
**(1,155)**
**16,976**
**290,191**
**290,191**
**290,191**
**290,191**|_2021_
_Total_
_funds_
_£_
_79,968_
_229,436_
_309,404_
_2,170_
_14,812_
_16,982_
_(1,143)_
_15,839_
_325,243_
_325,243_
325,243
325,243|
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2022 in accordance with Section 476 of the Companies Act 2006.
- The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 6
**BEXHILL COMMUNITY BUS LIMITED**
## **BALANCE SHEET - continued 31ST DECEMBER 2022**
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 11th April 2023 and were signed on its behalf by:
D Everiss - Trustee
S Hardie - Trustee
The notes form part of these financial statements
Page 7
**BEXHILL COMMUNITY BUS LIMITED**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
## **Financial reporting standard 102 - reduced disclosure exemptions**
The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Government grants are recognised when the charity becomes unconditionally entitled to the grant.
For legacies, entitlement is when probate is granted, the amount known, there are sufficient funds available for distribution or when a distribution is received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold property - Straight line over the life of the lease Bus equipment - 20% on cost Office furniture and fittings - 20% on cost Community buses - 25% on reducing balance
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
continued...
Page 8
**BEXHILL COMMUNITY BUS LIMITED**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **1. ACCOUNTING POLICIES - continued**
## **Fund accounting**
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Cash at bank**
Cash at bank includes cash and short term highly liquid investments.
## **Debtors**
Debtors are recognised at their recoverable amounts to which the charity is entitled.
## **Creditors**
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement value.
## **2. DONATIONS AND LEGACIES**
|Passenger and other donations
Legacies
Grants
Grants received, included in the above, are as follows:
East Sussex County Council
**3.**
**OTHER TRADING ACTIVITIES**
Profit from raffle
**4.**
**INVESTMENT INCOME**
Dividends and interest|**2022**
**£**
**430**
**3,000**
**4,737**
**8,167**
**2022**
**£**
**4,737**
**2022**
**£**
**80**
**2022**
**£**
**2,067**|_2021_
_£_
_1,001_
_500_
_-_|
|---|---|---|
|||_1,501_|
|||_2021_
_£_
_-_|
|||_2021_
_£_
_-_|
|||_2021_
_£_
_2,108_|
continued...
Page 9
**BEXHILL COMMUNITY BUS LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **5. CHARITABLE ACTIVITIES COSTS**
|Direct
Costs (see
note 6)
£
Community buses
**40,139**
Office and other costs
**9,343**
Garage costs
**4,645**
**54,127**
**6.**
**DIRECT COSTS OF CHARITABLE ACTIVITIES**
Vehicle tax and insurance
Fuel and oil
Vehicles repairs and servicing
Office rent, rates, light and heat
Office refurbishment and repairs
Garage expenses
Stationery, postage, computer expenses and advertising
Telephone (inc. broadband)
Sundry expenses
Professional fees
Fuel card charges
Medicals
Training costs
Depreciation
**7.**
**SUPPORT COSTS**
Office and other costs
Support costs, included in the above, are as follows:
**Governance costs**
Annual return fee
Accountancy
Independent examination fees|Grant
funding of
activities
£
**-**
**80**
**-**
**80**|Support
costs (see
note 7)
Totals
£
£
**-**
**40,139**
**963**
**10,386**
**-**
**4,645**
**963**
**55,170**
**2022**
_2021_
**£**
_£_
**3,693**
_3,749_
**9,962**
_7,169_
**5,890**
_4,141_
**4,853**
_5,813_
**181**
_85_
**4,645**
_3,373_
**1,057**
_277_
**470**
_464_
**932**
_379_
**170**
_-_
**278**
_72_
**110**
_-_
**1,292**
_-_
**20,594**
_26,656_
**54,127**
_52,178_
Governance
costs
£
**963**
**2022**
_2021_
Office
and other
Total
costs
activities
**£**
_£_
**13**
**_13_**
**620**
**_610_**
**330**
**_320_**
**963**
**_943_**|
|---|---|---|
continued...
Page 10
**BEXHILL COMMUNITY BUS LIMITED**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **8. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
||**2022**|_2021_|
|---|---|---|
||**£**|_£_|
|Depreciation - owned assets|**20,594**|_26,656_|
## **9. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31st December 2022 nor for the year ended 31st December 2021.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31st December 2022 nor for the year ended 31st December 2021.
## **10. STAFF COSTS**
There were no staff costs for the year ended 31st December 2022 nor for the year ended 31st December 2021.
## **11. TANGIBLE FIXED ASSETS**
|**COST**
At 1st January 2022
Additions
At 31st December 2022
**DEPRECIATION**
At 1st January 2022
Charge for year
At 31st December 2022
**NET BOOK VALUE**
At 31st December 2022
At 31st December 2021|Leasehold
property
£
**58,976**
**-**
**58,976**
**58,976**
**-**
**58,976**
**-**
_-_|Bus
equipment
£
**208**
**2,998**
**3,206**
**208**
**602**
**810**
**2,396**
_-_|Office
furniture
and
fittings
£
**1,406**
**-**
**1,406**
**1,406**
**-**
**1,406**
**-**
_-_|Community
buses
£
**175,980**
**-**
**175,980**
**96,012**
**19,992**
**116,004**
**59,976**
_79,968_|Totals
£
**236,570**
**2,998**|
|---|---|---|---|---|---|
||||||**239,568**|
||||||**156,602**
**20,594**|
||||||**177,196**|
||||||**62,372**|
||||||_79,968_|
The leasehold property consists of a garage to house community buses on land leased from Rother District Council for a period of twenty one years from 23rd October 2000 at an initial rent of one peppercorn (if demanded).
continued...
Page 11
**BEXHILL COMMUNITY BUS LIMITED**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **12. FIXED ASSET INVESTMENTS**
|**FIXED ASSET INVESTMENTS**||
|---|---|
||Listed|
||investments|
||£|
|**MARKET VALUE**||
|At 1st January 2022|**229,436**|
|Additions|**7,066**|
|Unrealised gain/(loss)|**(25,659)**|
|At 31st December 2022|**210,843**|
|**NET BOOK VALUE**||
|At 31st December 2022|**210,843**|
|At 31st December 2021|_229,436_|
At the year end there were no investment assets outside the UK.
The historical cost of the listed investments is £177,027.
|**13.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
**2022**
**£**
VAT
**303**
Prepayments
**2,121**
**2,424**
**14.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
**2022**
**£**
Trade creditors
**202**
Other creditors
**950**
Accrued expenses
**3**
**1,155**
**15.**
**LEASING AGREEMENTS**
Minimum lease payments under non-cancellable operating leases fall due as follows:|_2021_
_£_
_143_
_2,027_|
|---|---|
||_2,170_|
||_2021_
_£_
_210_
_930_
_3_|
||_1,143_|
|||
||**2022**|_2021_|
|---|---|---|
||**£**|_£_|
|Between one and five years|**8,775**|_12,675_|
continued...
Page 12
**BEXHILL COMMUNITY BUS LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **16. MOVEMENT IN FUNDS**
|**MOVEMENT IN FUNDS**||||||
|---|---|---|---|---|---|
||||Net|Transfers||
|||movement||between|At|
||At 1/1/22||in funds|funds|31/12/22|
||£||£|£|£|
|**Unrestricted funds**||||||
|General fund|**325,243**|**(37,825)**||**2,773**|**290,191**|
|**Restricted funds**||||||
|Electronic ticket machines|**-**||**2,773**|**(2,773)**|**-**|
|**TOTAL FUNDS**|**325,243**|**(35,052)**||**-**|**290,191**|
|Net movement in funds, included in the above are as follows:||||||
||Incoming||Resources|Gains and|Movement|
||resources||expended|losses|in funds|
||£||£|£|£|
|**Unrestricted funds**||||||
|General fund|**43,004**|**(55,170)**||**(25,659)**|**(37,825)**|
|**Restricted funds**||||||
|Electronic ticket machines|**2,773**||**-**|**-**|**2,773**|
|**TOTAL FUNDS**|**45,777**|**(55,170)**||**(25,659)**|**(35,052)**|
|**Comparatives for movement in funds**||||||
|||||Net||
|||||movement|At|
||||At 1/1/21|in funds|31/12/21|
||||£|£|£|
|**Unrestricted funds**||||||
|General fund|||332,491|(7,248)|325,243|
|**TOTAL FUNDS**|||332,491|(7,248)|325,243|
|Comparative net movement in funds, included in the above are as follows:||||||
||Incoming||Resources|Gains and|Movement|
||resources||expended|losses|in funds|
||£||£|£|£|
|**Unrestricted funds**||||||
|General fund|36,949||(53,121)|8,924|(7,248)|
|**TOTAL FUNDS**|36,949||(53,121)|8,924|(7,248)|
## **Restricted funds**
Electronic ticket machines fund - A grant was received from East Sussex County Council for two electronic ticket machines which were then purchased by the charity.
continued...
Page 13
**BEXHILL COMMUNITY BUS LIMITED**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **16. MOVEMENT IN FUNDS - continued**
## **Transfers between funds**
A grant was received for the cost of two electronic ticket machines. These have been capitalised as assets of the charity and are not restricted assets. Therefore a transfer was made out of the restricted fund to the unrestricted fund when the machines were purchased.
## **17. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31st December 2022.
## **18. LIMITED LIABILITY OF MEMBERS**
The liability of the members is limited to a sum of £10 being the amount that each member undertakes to contribute to the assets of the Charity in the event of its being wound up while he, she or it is a member or within one year after he, she or it ceases to be a member, for
(1) payment of the charity's debts and liabilities incurred before he or she or it eases to be a member;
- (2) payment of the costs charges and expenses of winding up;
- (3) adjustment of the rights of the contributories among themselves.
## **19. SCHEDULE OF BUSES**
|**SCHEDULE OF BUSES**||||
|---|---|---|---|
||**GX18ABV**|**RX20RNJ**|**Total**|
||**£**|**£**|**£**|
|**Cost**||||
|At 1st January 2022|**85,400**|**90,580**|**175,980**|
|Addition during the year|**0**|**0**|**0**|
|Disposal during the year|**0**|**0**|**0**|
|||||
|At 31st December 2022|**85,400**|**90,580**|**175,980**|
|||||
|**Depreciation**||||
|At 1st January 2022|**59,780**|**36,232**|**96,012**|
|Charge for the year|**6,405**|**13,587**|**19,992**|
|On disposal|**0**|**0**|**0**|
|||||
|At 31st December 2022|**66,185**|**49,819**|**116,004**|
|||||
|**Net book value**||||
|At 31st December 2022|**19,215**|**40,761**|**59,976**|
|||||
|At 31st December 2021|_25,620_|_54,348_|_79,968_|
|||||
|||||
|||||
|||||
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