## **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.
Page 3
**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:
1. Orderly closure of the business if continuation is no longer possible.
2. The continuation of the business in periods of adverse cash flow.
3. The acquisition of new office premises and associated moving costs.
4. The replacement of secure parking facilities for our buses.
5. Emergency Hire of a vehicle should the need arise to maintain service.
1. 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.
2. 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)
Page 5
**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:
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.
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)
Page 8
**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.
Page 9
**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.
Page 10
## **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.
Page 11
## **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.
Page 12
## **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).
Page 13
## **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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