## **REPORT OF THE DIRECTORS AND** **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** **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 2022** ||**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 2022** **DIRECTORS / TRUSTEES:** Mrs P L O'Toole (Chairperson) Mr D R Pipkin (Vice Chairperson) Mrs J Connolly (Treasurer) Mr J J O'Toole Mr M Freeman Mr N W Jephcote **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:** D R Kerins FCCA Ad Valorem Accountancy Services Ltd Chartered Certified Accountants & Statutory Auditors 2 Manor Farm Court Old Wolverton Milton Keynes Buckinghamshire MK12 5NN Page 1 **BUZZER BUSES (DIAL A RIDE) LIMITED** ## **REPORT OF THE TRUSTEES / DIRECTORS for the Year Ended 31 March 2022** The trustees present their annual report together with the financial statements of the charity for the year ended 31 March 2022, 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 have been around for 31 years now constantly providing our Door to Door transport service for the elderly and disabled residents of Leighton Buzzard and the surrounding villages. Now that the Covid Pandemic has subsided we are getting back to operating the way we did previously. We are sure that by mid to late 2022 we will be as busy as always. With increased interest in the service we see ourselves continuing for many years to come. ## **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 (resigned 29 July 2021) Mrs J Connolly (resigned 1 October 2022) J J O’Toole Mr N W Jephcote (appointed 17 January 2022) 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 £28,181 (2021: net income £34,039). The balance sheet strengthened by 13.5% to £237,491. ## **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 2022** ## **Chairman’s report** The last financial year has been very different to most but definitely more positive for us than the last two. During April we were offered a contract extension by Central Bedfordshire Council for our Dial-A-Ride service and that helped to confirm that we would be able to continue to operate for at least 2 more years. We were also asked to continue with the vaccination transport that we had been offering, and Central Bedfordshire Council would now pay for this service which would be a much needed boost to finances. At the same time the UK started to come out of the winter lockdown and people were very eager to get out of their houses again, so we were soon back up to about 75% of our usual service capacity. Our Dial-a-Ride bookings and spaces on our outings were filled very quickly although we still only allowed a reduced quantity of people per bus to ensure social distancing was still actively observed. All schools returned to usual service and so our morning and afternoon transport requirements were also back to full capacity. As the year continued, we started to reintroduce some of the streamlining measures that we had become expert at in the years preceding the covid pandemic. This, as was previously proved, helped to reduce costs and increase income. We are certain that things will be back to normal by mid to late 2022. We have been extremely fortunate to have the services of one of our trustees who has dedicated a great deal of his time to fund raising and has been able to raise a considerable amount of money towards our ‘bus replacement programme’. This allowed us to purchase two used vehicles that were far newer than the two that needed to be got rid of. As has become usual for us, our aim for each financial year is to break even with costs and general income balancing each other out. The fundraising that our trustee does then allows for new vehicles to be purchased, this means a very satisfactory end to each year. We are extremely pleased to say that for the third year running we have again exceeded our expectations and have a surplus in April 2021 to March 2022 of £28,181. This compares with the final figures of, April 2020 to March 2021 £34,039, although this was higher than the current year, we received less than a quarter of the government financial assistance from last year (£9,813 as opposed to £46,008). April 2019 to March 2020 surplus was £19,411, and April 2018 to March 2019 deficit was £3,688 Our ‘Buzzer Buddy’ scheme has continued to be a fantastic and popular means of communication for our members, and we have had many reports of people communicating during these difficult times using this service. As always, 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 2022** ## **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 was agreed that it will be reviewed at each AGM and this has been done again on 5 August 2021 and unanimously accepted by the committee. 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 LTC and payment for the Dial-a-Ride from CBC. We are extremely busy with members wanting to get out more than ever now they are free to do so. We have also massively increased our Fundraising activities and this has proved a valuable additional source of income. This will continue throughout 2022 and beyond. Page 4 **BUZZER BUSES (DIAL A RIDE) LIMITED** ## **REPORT OF THE TRUSTEES / DIRECTORS (continued) for the Year Ended 31 March 2022** ## **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 12 December 2022 and signed on its behalf by: Mrs P 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 2022, 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** Since the Company's gross income exceeded £250,000 your examination must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies. 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. D R Kerins FCCA Ad Valorem Accountancy Services Ltd Chartered Certified Accountants & Statutory Auditors 2 Manor Farm Court Old Wolverton Milton Keynes Buckinghamshire MK12 5NN Date: 16 December 2022 Page 6 ## **BUZZER BUSES (DIAL A RIDE) LIMITED** ## **STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) for the year ended 31 March 2022** |**Unrestricted Funds**
**General**
**Designated**
**reserve**
**reserves**
**£**
**£**
**Notes**
**Income and endowments from**
Donations & Legacies
3
25,864
Charitable activities
4
193,525
Other trading activities
5
1,580
Investments
12
Other
6
9,813
**Total income and endowments**
230,794
-
**Expenditure on:**
Raising funds
-
Charitable activities
8
221,863
Other
8
750
**Total expenditure**
222,613
-
**Net Income/(Expenditure) for the Year**
8,181
-
**Transfers Between Funds**
15
53,960
( 12,051)
**Net Movements in Funds**
62,141
( 12,051)
**Reconciliation of Funds**
Total funds brought forward from 1 April 2021
58,834
128,567
**Total funds carried forward at**
**31 March 2022**
120,975
116,516|**Restricted**
**Funds**
**Capital**
**assets**
**£**
24,145
24,145
4,145
4,145
20,000
( 41,909)
( 21,909)
21,909
-|**Total Funds**
**2022**
**£**
50,009
193,525
1,580
12
9,813
254,939
-
226,008
750
226,758
28,181
-
28,181
209,310
237,491|**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| |---|---|---|---| The notes on pages 9 to 15 form an integral part of these financial statements. Page 7 **BUZZER BUSES (DIAL A RIDE) LIMITED (REGISTERED NUMBER: 05338802)** ## **BALANCE SHEET 31 March 2022** |**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|**£**
**£**
132,691
20,169
94,611
114,780
( 9,980)
104,800
237,491
120,975
116,516
-
237,491
**2022**|**£**
**£**
80,195
15,303
132,598
147,901
( 18,786)
129,115
209,310
58,834
128,567
21,909
209,310
**2021**| |---|---|---| For the year ending 31 March 2022, 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 2022 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 12 December 2022 and were signed on its behalf by: Mrs P O'Toole Page 8 **BUZZER BUSES (DIAL A RIDE) LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 March 2022** ## 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|The Net income/(expenditure) is|stated after|charging:|charging:|||||**2022**|**2021**| |---|---|---|---|---|---|---|---|---|---|---| ||||||||||£|£| |Depreciation - owned assets|||||||||26,573|23,744| |Accountants - independent examination|||||||||600|600| |Accountants - operators grants|||||||||150|150| |Directors' emoluments and other||benefits etc|||||||-|-| |**DONATIONS & LEGACIES**||**- GRANTS**|**AND**|**DONATIONS**||||||| |**GRANTS**||||||||||| |Leighton Linslade Council|||||||||**2022**
£
4,145|**2021**
£
4,100| |CBC Community Assets|||||||||-|15,000| |Connolly Foundation|||||||||10,000|-| |Edward Gosling|||||||||10,000|-| |Masonic Charitable Foundation|||||||||5,000|-| |National Lottery|||||||||10,000|-| ||||||||||39,145|19,100| |Both the Edward Gosling and||National Lottery||grants|were restricted income grants. These|||||were provided| |specifically
for
vehicle||replacement.||The|Leighton||Linslade||Council|grant
was| |also
restricted,
provided||specifically|for|bus|operating||costs|(10|week
vehicle
checks).|| |**DONATIONS**||||||||||| |Donations Received|||||||||**2022**
£
10,509|**2021**
£
9,284| |Gift Aid|||||||||355|310| ||||||||||10,864|9,594| |In
addition
to
general|donations,||there|were|the|following||significant
donations
in
year:||| |Co-op £2,181, Arnold Clarke Foundation £1,000, Link £1,500, New Life Church £1,000 and R Gibbons Legacy||||||||||| |£1,000. (2021: £5,000 was received from the|||Bernard Sunley Trust|||and £1,909||from the Co-Op).||| |Total Grants & Donations|||||||||50,009|28,694| ## 3 **DONATIONS & LEGACIES - GRANTS AND DONATIONS** - 4 **INCOMING RESOURCES FROM CHARITABLE ACTIVITIES** |Central Bedfordshire Council
Contractual income from government or public authorities
Other fares received
UK Government grants
Subscriptions
Other income|**2022**
£
90,000
59,862
32,015
4,168
450
7,030
193,525|**2021**
£
90,000
54,522
13,882
4,298
360
6,020
169,082| |---|---|---| There was deferred income in the year of £1,240 (2021 - £4,040) from Link-A-Ride to provide transport to their clients. 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** |Subscriptions
Other Income
Profit on sale of tangible fixed asset
6
**OTHER INCOME**
HMRC JRS Grant payments|**2022**
£
1,580
-
-
1,580
**2022**
£
9,813
9,813|**2021**
£
1,700
300
600
2,600
**2021**
£
46,008
46,008| |---|---|---| - 7 **STAFF COSTS** The average number of persons employed by the charity during the year, analysed by category, was as follows: |Drivers
Administration
Passenger Assistants
Salaries
Social security costs
Pension costs|**2022**
7
3
1
11
**2022**
£
147,229
5,341
312
152,882|**2021**
6
3
1
10
**2021**
£
148,457
3,820
274
152,551| |---|---|---| No employee earned in excess of £60,000 per annum (2021 - 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
152,882
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
Training
Depreciation of tangible fixed assets
152,882
**Other Costs**
Audit & Independent examination fees
-
152,882|Bus
Operating
Costs
30,610
25,000
55,610
-
55,610|Support
Costs
7,588
4,853
232
120
1,616
86
1,108
340
1,573
17,516
-
17,516|Governance
-
750
750
750|**2022**
£
152,882
30,610
25,000
7,588
4,853
232
120
1,616
86
1,108
340
1,573
226,008
750
750
226,758|**2021**
£
152,551
19,652
22,361
6,318
4,877
716
197
1,201
-
2,395
-
1,383
211,651
750
750
212,401| |---|---|---|---|---|---| ## 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 2022** ## 10 **TANGIBLE FIXED ASSETS** |Motor
vehicles
£
**COST**
At 1 April 2021
171,560
Additions
77,851
Disposals
At 31 March 2022
249,411
**DEPRECIATION**
At 1 April 2021
95,814
Charge for year
25,000
Disposals
At 31 March 2022
120,814
**NET BOOK VALUE**
At 31 March 2022
128,597
At 31 March 2021
75,746
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
£
12,993
1,218
14,211
8,544
1,573
-
10,117
4,094
4,449
**2022**
£
6,370
588
13,211
20,169
**2022**
£
2,342
2,072
5,566
9,980|Totals
£
184,553
79,069
263,622
104,358
26,573
-
130,931
132,691
80,195
**2021**
£
8,736
574
5,993
15,303
**2021**
£
2,314
1,894
14,578
18,786| |---|---|---| ## 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 (2021: £nil). Page 13 ## **BUZZER BUSES (DIAL A RIDE) LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022** ## 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**
**2021**
£
58,834
65,000
63,567
187,401
21,909
21,909
209,310|**Incoming**
**resources**
£
230,794
230,794
24,145
24,145
254,939|**Resources**
**expended**
£
222,613
222,613
4,145
4,145
226,758|**Transfers**
£
53,960
( 12,051)
41,909
( 41,909)
( 41,909)
-|**At**
**31 March**
**2022**
£
120,975
65,000
51,516
237,491
-
-
237,491| |---|---|---|---|---|---| 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 £12,051 was transferred from the bus replacement funds to general funds. The capital assets fund represents assets purchased out of the restricted grants. This was used to purchase 2 new buses, ## 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**
£
-
-|**Designated**
**funds**
£
116,516
116,516|**General**
**funds**
£
132,691
( 11,716)
120,975|**2022**
**Total**
£
132,691
104,800
237,491|**2021**
**Total**
£
80,195
129,115
209,310| |---|---|---|---|---|---| ## 17 **RELATED PARTY TRANSACTIONS** There were no related party transactions, other than those disclosed below. Trustees received expenses totalling £NIL during the year (2021 - £NIL). Cost of remuneration for key management personnel amounted to £38,891 (2021 - £33,370). No trustees received any remuneration during the year. (2021 - £NIL). Page 14 **BUZZER BUSES (DIAL A RIDE) LIMITED** **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022** ## 18 **CAPITAL COMMITMENTS** As at 31 March 2022 the company had contracted to purchase motor vehicles of £nil (2021: £40,708). Page 15