REPORT OF THE DIRECTORS AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
FOR
BUZZER BUSES (DIAL A RIDE) LIMITED Company Registration Number 05338802
Charity Registration Number 1109107
BUZZER BUSES (DIAL A RIDE) LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 March 2021
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Report of the Trustees / Directors | 2 to 5 |
| Report of the Independent Examiner | 6 |
| Statement of Financial Activities / | 7 |
| Income and Expenditure Account | |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 to 15 |
BUZZER BUSES (DIAL A RIDE) LIMITED
REFERENCE AND ADMINISTRATIVE DETAILS for the Year Ended 31 March 2021
DIRECTORS / TRUSTEES:
Mrs P L O'Toole (Chairperson) Mr D R Pipkin (Vice Chairperson) Mrs J Connolly (Treasurer) Mr J Baldwin Mr J J O'Toole Mr M Freeman
COMPANY SECRETARY: Mr M Gale REGISTERED OFFICE: 31 New Road Linslade Leighton Buzzard Bedfordshire LU7 2LS
REGISTERED NUMBER: 05338802 (England and Wales) CHARITY NUMBER: 1109107 BANKERS: CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ
INDEPENDENT EXAMINER: M L Clark FCA
ECL Howard Watson Smith LLP Chartered Accountants ECL House Lake Street Leighton Buzzard Bedfordshire LU7 1RT
Page 1
BUZZER BUSES (DIAL A RIDE) LIMITED
REPORT OF THE TRUSTEES / DIRECTORS for the Year Ended 31 March 2021
The trustees present their annual report together with the financial statements of the charity for the year ended 31 March 2021, which are also prepared to meet the requirements for a directors' report and accounts for Companies Act purposes. The financial statements comply with the Charities Acts, the Companies Act 2006, the Memorandum and Articles of Association, and the Statement of Recommended Practice - Accounting and Reporting by Charities (SORP FRS102)
Status
The company is both a charity and a company, limited by guarantee. It is a member of the Community Transport Association UK, a registered charity (number 1002222), but operates independently of that charity.
Our Purpose & Principal Activity
The principal activity of the company in the period under review was that of carrying out the objects of the charity, being to provide a community transport service for such of the inhabitants of Leighton Linslade 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.
In setting our objective and planning our activities our trustees have given careful consideration to the Charity Commission's general guidance on public benefit.
Public Benefit
Buzzer Buses has existed for 30 years to provide a Door to Door transport service for residents of Leighton Linslade and for villages within the adjacent locality. The need for our services was further highlighted over the past year during the coronavirus pandemic. Although the amount of passenger journeys fell significantly due to the fact that everyone was forced to stay at home, we diversified to fill a huge void where the majority of people that were not allowed (or able) to get out still needed their medication. Our staff risked their own health to ensure that prescriptions were collected from pharmacies and delivered to people’s homes. Members and non-members were treated equally in this time of need. We also continued to provide transport to doctors surgeries where an urgent need was obvious.
Directors/Trustees/Structure
The directors, who act as the Management Committee and are also trustees under the Charities Acts, during the year under review were:
Mrs P L O’Toole D Pipkin J C Baldwin Mrs J Connolly (Appointed 6 August 2020) J J O’Toole Mrs P Cramer (Resigned 30 September 2020) M Freeman
Day-to day operations are the responsibility of a General Manager who reports directly to the Management Committee.
Financial Review
During the year under review, the company had a net income of £34,039 (2020: net income £19,375). The balance sheet strengthened by 19.4% to £209,310.
Reference and Administrative Details
These are detailed on Page 1 of this report.
Page 2
BUZZER BUSES (DIAL A RIDE) LIMITED
REPORT OF THE TRUSTEES / DIRECTORS (continued) for the Year Ended 31 March 2021
Chairman’s report
The last financial year has been an extremely different one for us as I am sure it has been for everyone around the world. When the coronavirus pandemic hit in late March and the world went into lockdown it changed everything that we did. We immediately offered our services to help the community wherever possible and this was taken up by Central Bedfordshire Council who initially asked us to help with hospital to home transport to empty the hospitals ready for the expected influx of COVID 19 patients.
Soon after this we were asked to help with prescription delivery, and this took off in a big way. We were soon collecting these from many pharmacies each day and delivering them to people’s homes. Due to the ‘stay at home’ order we were offering this service to everyone in the community and the Buzzer staff were magnificent in their selfless deeds putting themselves in danger to ensure the public at large were receiving their necessary drugs whilst staying home. Our office team were also calling all of the members on our database to ensure that they were well, safe, and receiving food and medication in these unprecedented circumstances. When the vaccines began to be rolled out we offered transport to the vaccination centres for anyone in the community.
A great deal of our self-generated income stopped, all outings, Dial-a-Ride trips and other work that creates our regular income was immediately halted. Luckily, we do operate a few school transport routes and these remained due to students of ‘Key-Workers’ continuing to attend lessons throughout the pandemic. We were also lucky that our support from CBC continued and this along with the furlough scheme ensured that we were able to continue operating.
During this period two of our oldest buses failed and had to be got rid of. We managed to find and purchase a previously used vehicle to cover one and we had a new bus on order from money raised last year to replace the second. Although the new vehicle has been greatly delayed by the pandemic.
The Section 19 bus permit situation is still not fully resolved although we have been able to replace our expired permits with new ones that will last 5 years. These permits will allow our Dial-a-Ride operations and some other work. Non-Competitively tendered contracts are allowed but there is still work being done by the CTA to finalise exactly what we can and cannot do.
As with last year our aim at the beginning of the year was to break even and we are extremely pleased to say that for the second year running we have done far more than this with a surplus in the year 2020-2021 of £34,039. Our last few years finances are, 2017-2018 deficit £30,660, 2018-2019 deficit of £4,323, 2019-2020 surplus of £19,375, and this shows that our staff’s extreme hard work and new way of working is showing in our accounts. This surplus money will be used to purchase another new vehicle and update many office items that are literally falling apart.
Our ‘Buzzer Buddy’ scheme continues to grow in popularity, and this helps people to communicate with each other throughout these extremely tough times. We also ensure that our company ‘No Response Policy’ is adhered to (we do not let an unanswered door be ignored) and this has again helped to save lives during the last year.
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BUZZER BUSES (DIAL A RIDE) LIMITED
REPORT OF THE TRUSTEES / DIRECTORS (continued) for the Year Ended 31 March 2021
Small company provisions
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Reserves Policy
A formal policy on general reserves was agreed at the September 2008 meeting of the executive committee and was reviewed and amended by the executive committee on 28th November 2018. It states:
A general reserves policy is desirable to identify that part of the assets of the company which must be set aside to cover adverse financial contingencies. The reserve fund for Buzzer Buses is intended to cover the following contingencies:
-
Orderly closure of the business if continuation is no longer possible.
-
The continuation of the business in periods of adverse cash flow.
-
The acquisition of new office premises and associated moving costs.
-
The replacement of secure parking facilities for our buses.
-
Emergency Hire of a vehicle should the need arise to maintain service.
-
Orderly closure of the business implies the cessation of operations, the redundancy of staff and any contracted obligations to suppliers. This requires sufficient funds to cover three months funding of salaries and salary related payments.
-
Continued operation in the face of delays to funding grants requires funds to operate the business for a period of up to two months.
It is therefore the policy of the company to designate a general reserve to cover all these contingencies and to ensure that an appropriate proportion of the assets be protected for that purpose. This is separate from the sum represented by the tangible assets (i.e. buses) and the funds for their normal replacements.
This policy document shall be appended to the annual accounts, and where necessary amended, for approval by the trustees at each AGM.
Forthcoming Year
The financial security of the company is once again assured for the forthcoming year. We have received our grant payment from Leighton Linslade Council, and we have had our Dial-a-Ride contract formally extended for the next two years. Payment of this was received at the beginning of July. The Dial-a-Ride business has already picked up at an incredible rate as have subscriptions to our outings that bring in a very good income. This is off the back of covid restrictions being lifted and we anticipate things getting busier as the weather improves and more restrictions are dropped. Most staff are back to their normal hours and those that are not back to full time are expected to be within the next few weeks.
Page 4
BUZZER BUSES (DIAL A RIDE) LIMITED
REPORT OF THE TRUSTEES / DIRECTORS (continued) for the Year Ended 31 March 2021
New Trustees
New Management Committee members may be elected individually at the Annual General Meeting. The Management Committee may in addition co-opt no more than five other persons to serve as full voting members of the Management Committee until the next Annual General Meeting. Existing Trustees agree what skills, experience and knowledge are needed in new trustees and a job specification is then drawn up. Successful candidates are interviewed and invited to join subject to references, formal vetting and approval by the full trustee board. They are provided with copies of the Memorandum and Articles of Association of the charity and literature pertaining to our activities, together with a copy of the essential trustee guide (CC3) as issued by the Charity Commission. Officers serve for one year, after which they are eligible for reappointment provided that no person serves for more than ten consecutive years in the same post.
Approved by the Board on 5 August 2021 and signed on its behalf by:
Mrs P L O’Toole (Hon. Chairperson)
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BUZZER BUSES (DIAL A RIDE) LIMITED
REPORT OF THE INDEPENDENT EXAMINER TO THE TRUSTEES OF BUZZER BUSES (DIAL A RIDE) LIMITED
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2021, which are set out on pages 7 to 15.
Responsibilities and basis of report
As the charity 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 company'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 that in any material respect:
-
accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
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
-
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.
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.
M L Clark FCA ECL Howard Watson Smith LLP Chartered Accountants ECL House Lake Street Leighton Buzzard Bedfordshire
LU7 1RT
Date: 12 August 2021
Page 6
BUZZER BUSES (DIAL A RIDE) LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) for the year ended 31 March 2021
| Unrestricted Funds General Designated reserve reserves £ £ Notes Income and endowments from Donations & Legacies 3 2,685 Charitable activities 4 169,082 Other trading activities 5 2,600 Investments 56 Other 6 46,008 Total income and endowments 220,431 - Expenditure on: Raising funds - Charitable activities 8 207,551 Other 8 750 Total expenditure 208,301 - Net Income/(Expenditure) for the Year 12,130 - Transfers Between Funds 15 ( 29,000) 29,000 Net Movements in Funds ( 16,870) 29,000 Reconciliation of Funds Total funds brought forward from 1 April 2020 75,704 99,567 Total funds carried forward at 31 March 2021 58,834 128,567 |
Unrestricted Funds General Designated reserve reserves |
Restricted Funds Capital assets £ 26,009 26,009 4,100 4,100 21,909 21,909 - 21,909 |
Total Funds 2021 £ 28,694 169,082 2,600 56 46,008 246,440 - 211,651 750 212,401 34,039 - 34,039 175,271 209,310 |
Total Funds 2020 |
|---|---|---|---|---|
| £ 28,972 197,778 4,196 177 1,407 |
||||
| 220,431 - |
232,530 | |||
| - 207,551 750 |
212,455 700 |
|||
| 208,301 - |
213,155 | |||
| 12,130 - ( 29,000) 29,000 |
19,375 - |
|||
| ( 16,870) 29,000 75,704 99,567 |
19,375 155,896 |
|||
| 58,834 128,567 |
175,271 |
The notes on pages 9 to 14 form an integral part of these financial statements.
Page 7
BUZZER BUSES (DIAL A RIDE) LIMITED (REGISTERED NUMBER: 05338802)
BALANCE SHEET 31 March 2021
| Notes FIXED ASSETS Tangible assets 10 CURRENT ASSETS Debtors 11 Cash at bank and in hand CREDITORS Amounts falling due within one year 12 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES FUNDS OF THE CHARITY Unrestricted funds: General fund 15 Designated funds 15 Restricted funds Capital assets 15 |
£ £ £ £ 80,195 77,083 15,303 10,912 132,598 92,400 147,901 103,312 ( 18,786) ( 5,124) 129,115 98,188 209,310 175,271 58,834 75,704 128,567 99,567 21,909 - 209,310 175,271 2021 2020 |
£ £ £ £ 80,195 77,083 15,303 10,912 132,598 92,400 147,901 103,312 ( 18,786) ( 5,124) 129,115 98,188 209,310 175,271 58,834 75,704 128,567 99,567 21,909 - 209,310 175,271 2021 2020 |
|---|---|---|
| 175,271 | ||
| 75,704 99,567 - |
||
| 175,271 |
For the year ending 31 March 2021, the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its accounts for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and in accordance with FRS102 SORP.
The financial statements were approved by the Board of Directors on 5 August 2021 and were signed on its behalf by:
Mrs J Connolly (Treasurer)
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BUZZER BUSES (DIAL A RIDE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 March 2021
1 ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard (SORP- FRS 102) (effective January 2016), the Statement of Recommended Practice for Charities (revised 2015), the Charities Act 2011 and the Companies Act 2006.
The presentation currency of the financial statements is the Pound Sterling (£).
Company status
The company is limited by guarantee and has no share capital. The liability of members is limited to £1 in the event of a winding up.
Preparation of the accounts on a going concern basis
The financial statements have been prepared on a going concern basis since the Trustees are confident that the Company is able to continue to meet its liabilities as they fall due for the next year after the accounts have been signed.
The impact of the coronavirus pandemic on our charity has been disclosed in the report of the trustees/directors. In our view, this does not affect our opinion that the financial statements should continue to be prepared on a going concern basis.
Fund accounting
Unrestricted funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.
Restricted funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Designated funds are unrestricted funds set aside at the discretion of the trustees for specific purposes. Further details of each fund are disclosed in note 15.
Incoming resources
Voluntary income including donations and grants that provide core funding or are of a general nature is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Investment income is recognised on a receivable basis.
Resources expended
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Tangible fixed assets
Individual fixed assets costing £250 or more are initially recorded at cost.
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office and computer equipment - 20% on cost Motor vehicles - 12.5%-20% on cost
Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price.
Government grants
Government grants are recognised in the Income Statement so as to match them with the expenditure towards which they are intended to contribute.
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BUZZER BUSES (DIAL A RIDE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2021
2 NET INCOME/(EXPENDITURE) FOR THE YEAR
| The Net income/(expenditure) is stated after charging: Depreciation - owned assets Accountants - independent examination Accountants - operators grants Directors' emoluments and other benefits etc |
2021 £ 23,744 600 150 - |
2020 £ 18,663 550 150 |
|---|---|---|
| - |
- 3 DONATIONS & LEGACIES - GRANTS AND DONATIONS
GRANTS
| GRANTS | ||
|---|---|---|
| Leighton Linslade Council CBC Ward Grant CBC Community Assets |
2021 £ 4,100 - 15,000 19,100 |
2020 £ 3,794 1,300 |
| 5,094 |
All grants received during the year were restricted income grants. The Leighton Linslade Council grant was provided specifically for bus operating costs (10 week vehicle checks). The CBC Community Assets grant of was specifically for vehicle replacement.
DONATIONS
| DONATIONS | ||
|---|---|---|
| Donations Received Gift Aid |
2021 £ 9,285 310 9,595 |
2020 £ 23,645 233 |
| 23,878 |
In addition to general donations, two significant donations were received during the year specifically for vehicle replacement. £5,000 was received for the Bernard Sunley Trust and £1,909 from the Co-Op.
| Total Grants & Donations INCOMING RESOURCES FROM CHARITABLE ACTIVITIES Central Bedfordshire Council Contractual income from government or public authorities Other fares received UK Government grants Subscriptions Other income |
28,694 2021 £ 90,000 54,522 13,882 4,298 360 6,020 169,082 |
28,972 |
|---|---|---|
| 2020 £ 90,000 39,937 44,023 4,748 730 18,340 |
||
| 197,778 |
- 4 INCOMING RESOURCES FROM CHARITABLE ACTIVITIES
There was deferred income in the year of £4,040 (2020 - £NIL) from Link-A-Ride to provide transport to their clients. Due to COVID 19 the service was not required. Once the national lockdown restrictions are lifted, the service will be operational again.
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BUZZER BUSES (DIAL A RIDE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2021
5 OTHER TRADING ACTIVITIES
| 5 OTHER TRADING ACTIVITIES |
||
|---|---|---|
| Subscriptions Other Income Profit on sale of tangible fixed asset 6 OTHER INCOME HMRC JRS Grant payments |
2021 £ 1,700 300 600 2,600 2021 £ 46,008 46,008 |
2020 £ 3,296 300 600 |
| 4,196 | ||
| 2020 £ 1,407 |
||
| 1,407 |
- 7 STAFF COSTS
| The average number of persons employed by the charity during the year, analysed by category, 2021 Drivers 6 Administration 3 Passenger Assistants 1 10 2021 £ Salaries 148,457 Social security costs 3,820 Pension costs 274 152,551 |
was as follows: 2020 6 3 1 10 2020 £ 145,150 5,881 - 151,031 |
|---|---|
No employee earned in excess of £60,000 per annum (2020 - none).
No staff redundancies were made during the financial year.
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BUZZER BUSES (DIAL A RIDE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2021
8 EXPENDITURE ON CHARITABLE ACTIVITIES
| Payroll Charitable Activities Employment costs 152,551 Other direct costs Depreciation of tangible fixed assets Establishment costs Office expenses Printing, posting and stationery Subscriptions and donations Sundry and other costs Travel and subsistence Accountancy fees Depreciation of tangible fixed assets 152,551 Other Costs Audit & Independent examination fees - 152,551 |
Bus Operating Costs 19,652 22,361 42,013 - 42,013 |
Support Costs 6,318 4,877 716 197 1,201 - 2,395 1,383 17,087 - 17,087 |
Governance - 750 750 750 |
2021 2020 £ £ 152,551 151,032 19,652 29,406 22,361 17,302 6,318 6,387 4,877 4,233 716 810 197 132 1,201 1,135 - 132 2,395 525 1,383 1,361 211,651 212,455 750 700 750 700 212,401 213,155 |
|---|---|---|---|---|
9 GOVERNANCE COSTS
These costs relate to the audit fees for the Bus Service Operators Grant and the charge for the Independent Examination of the accounts.
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BUZZER BUSES (DIAL A RIDE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2021
10 TANGIBLE FIXED ASSETS
| Motor vehicles £ COST At 1 April 2020 198,396 Additions 26,250 Disposals ( 53,086) At 31 March 2021 171,560 DEPRECIATION At 1 April 2020 126,539 Charge for year 22,361 Disposals ( 53,086) At 31 March 2021 95,814 NET BOOK VALUE At 31 March 2021 75,746 At 31 March 2020 71,857 11 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade Debtors Other debtors Prepayments and accrued income 12 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Taxation and social security Accruals and deferred income |
Office & computer equipment £ 12,389 604 - 12,993 7,163 1,381 - 8,544 4,449 5,226 31.3.21 £ 8,736 574 5,993 15,303 31.3.21 £ 2,314 1,894 14,578 18,786 |
Totals £ 210,785 26,854 ( 53,086) |
|---|---|---|
| 184,553 | ||
| 133,702 23,742 ( 53,086) |
||
| 104,358 | ||
| 80,195 | ||
| 77,083 | ||
| 31.3.20 £ - 331 10,581 |
||
| 10,912 | ||
| 31.3.20 £ 1,254 2,332 1,538 |
||
| 5,124 |
13 TAXATION
The company is a registered charity and is exempt from corporation tax.
14 PENSIONS
Employees of the charity are entitled to join a defined contribution pension scheme. The charity contribution is restricted to the contributions disclosed in note 7 as 'Pension costs'. The outstanding contributions at the year end are £nil (2020: £nil).
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BUZZER BUSES (DIAL A RIDE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2021
15 STATEMENT OF FUNDS
| General funds General reserve Designated funds General contingency reserve Bus replacement reserve Total unrestricted funds Restricted funds: Capital assets Total restricted funds Total funds |
At 1 April 2020 £ 75,704 65,000 34,567 175,271 - - 175,271 |
Incoming resources £ 220,431 - - 220,431 26,009 26,009 246,440 |
Resources expended £ 208,301 - - 208,301 4,100 4,100 212,401 |
Transfers £ ( 29,000) 29,000 - - - |
At 31 March 2021 £ 58,834 65,000 63,567 |
|---|---|---|---|---|---|
| 187,401 | |||||
| 21,909 | |||||
| 21,909 | |||||
| 209,310 |
The General reserve represents the free funds of the charity which are not designated for particular purposes.
The general contingency reserve is the amount deemed prudent by the trustees to be set aside under the terms of the reserves policy.
The bus replacement reserve represents funds set aside for the replacement of the fleet in due course. During the year £55,000 was transferred from the general fund and £26,000 was used from this fund to purchase 1 new bus.
The capital assets fund represents assets purchased out of restricted grants. £21,909 of restricted funds were carried forward to contribute to a new bus being purchased in 2021/22.
16 ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Fund balances at 31 March 2021 are represented by: Tangible fixed assets Net current assets Net assets |
Restricted funds £ 21,909 - 21,909 |
Designated funds £ - 128,567 128,567 |
General funds £ 58,286 548 58,834 |
2021 Total £ 80,195 129,115 209,310 |
2020 Total £ 77,083 98,188 |
|---|---|---|---|---|---|
| 175,271 |
17 RELATED PARTY TRANSACTIONS
There were no related party transactions, other than those disclosed below.
Trustees received expenses totalling £NIL during the year (2020 - £NIL).
Cost of remuneration for key management personnel amounted to £33,370 (2020 - £32,769).
No trustees received any remuneration during the year. (2020 - £NIL).
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BUZZER BUSES (DIAL A RIDE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2021
18 CAPITAL COMMITMENTS
As at 31 March 2021 the company had contracted to purchase motor vehicles of £40,708 (2020: £nil).
19 EVENTS AFTER THE BALANCE SHEET DATE
The Covid-19 pandemic has continued to have an affect on the company's trading since the year end. This is regarded as a non-adjusting event and no provision has been made in these financial statements. The company continues to access the governments furlough scheme. Funding for the new year has been received and as covid restrictions are lifted the business expects to be back on track. The company has a strategy and procedures in place to access reserves should these be required.
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