REPORT OF THE DIRECTORS AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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 2024
| 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 2024
DIRECTORS / TRUSTEES: Mrs P L O'Toole (Chairperson) Mr D R Pipkin (Vice Chairperson) 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 2024
The trustees present their annual report together with the financial statements of the charity for the year ended 31 March 2024, 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 33 years now constantly providing our Door to Door transport service for the elderly and disabled residents of Leighton Buzzard and the surrounding area. Our service has been operating normally, once again and we have been very busy. With our membership increasing, we now have over 1,000 members, we see the service 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 Mr D Pipkin Mr J J O’Toole Mr N W Jephcote Mr 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 loss of (£5,206) (2023: net income £1,190). The balance sheet weakened by 2% to £233,475.
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 2024
Chairman’s report
The last financial year has been another good one for Buzzer Buses although extremely busy with continued meetings to try and confirm the ongoing contract for the Dial-a-Ride. We have met with Central Bedfordshire Council on numerous occasions to try to revise the current ‘Contract’ that we have and try to make this a more practical agreement that works for all involved.
We have now been promised that a new Service Level Agreement will be produced to give us security for the next 5 years. This will be signed and agreed in the next few weeks.
As with the previous year the ever expanding size of Leighton Buzzard and continual roadworks has meant that we are still not able to do quite as many journeys as we have done previously although we are close.
Our Dial-a-Ride bookings and outings are continually filled as people still thoroughly enjoy the service that we offer and the helpfulness of our drivers. Our school route is also back to full capacity, and this as always works very well to keep our buses busy before and after the peak Dial-a-Ride hours, as well as supporting the service financially to continue.
We are still continuing to streamline our journeys and carry more people on each trip than we have done for the last year or two since the Covid Pandemic changed our service completely. This will help to reduce costs and increase income, and we will hopefully be back to pre-pandemic levels very soon.
We are still extremely fortunate to have the services of one of our trustees who dedicates a great deal of his time to fund raising and other aspects of the charity. He has again raised a considerable amount of money towards our ‘bus replacement programme’ and running costs. This has allowed us to purchase another new bus in the year.
Our aim for each financial year is to break even with our general income balancing with the regular costs, however this year has seen a marked increase in costs, and we have therefore fallen short on this financial year. However, the combination of the previous three years will still show a surplus and therefore we are happy with our accounts.
Our ‘Buzzer Buddy’ scheme continues to help our members as a popular means of communication between them.
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 very recently saved a life as we were able to alert the emergency services to a lady who had collapsed in her house.
Page 3
BUZZER BUSES (DIAL A RIDE) LIMITED
REPORT OF THE TRUSTEES / DIRECTORS (continued) for the Year Ended 31 March 2024
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 be done again at our AGM in December 2024 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:
-
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 LTC and CBC for the Dial-a-Ride service. The CBC payment is now in the form of a grant, and this was awarded for the next 5 years. With our increased level of successful Fundraising activities we feel the financial security of the company is assured. The need for our service continues to increase.
Page 4
BUZZER BUSES (DIAL A RIDE) LIMITED
REPORT OF THE TRUSTEES / DIRECTORS (continued) for the Year Ended 31 March 2024
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 ______ 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 2024, 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 examiner 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 Association of Chartered Certified Accountants in England and Wales.
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.
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:___
Page 6
BUZZER BUSES (DIAL A RIDE) LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) for the year ended 31 March 2024
| Notes Income and endowments from Donations & Legacies 3 Charitable activities 4 Other trading activities 5 Investments Total income and endowments Expenditure on: Raising funds Charitable activities 7 Other 8 Total expenditure Net Income/(Expenditure) for the Year Transfers Between Funds 14 Net Movements in Funds Reconciliation of Funds Total funds brought forward from 1 April 2023 Total funds carried forward at 31 March 2024 |
Unrestricted Funds General Designated reserve reserves £ £ 4,500 5,000 205,104 3,189 2,068 214,861 5,000 262,361 2,625 264,986 - ( 50,125) 5,000 63,100 ( 18,181) 12,975 ( 13,181) 111,415 122,266 124,390 109,085 |
Restricted Funds Capital assets £ 44,816 44,816 4,897 4,897 39,919 ( 44,919) ( 5,000) 5,000 - |
Total Funds 2024 £ 54,316 205,104 3,189 2,068 264,677 - 267,258 2,625 269,883 ( 5,206) - ( 5,206) 238,681 233,475 |
Total Funds 2023 £ 43,953 192,706 1,435 763 238,857 - 236,917 750 237,667 1,190 - 1,190 237,491 238,681 |
|---|---|---|---|---|
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 2024
| Notes FIXED ASSETS Tangible assets 9 CURRENT ASSETS Debtors 10 Cash at bank and in hand CREDITORS Amounts falling due within one year 11 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES FUNDS OF THE CHARITY Unrestricted funds: General fund 14 Designated funds 14 Restricted funds Capital assets 14 |
£ £ 128,681 14,126 101,497 115,623 ( 10,829) 104,794 233,475 124,390 109,085 - 233,475 2024 |
£ £ 103,377 22,247 121,397 143,644 ( 8,340) 135,304 238,681 111,415 122,266 5,000 238,681 2023 |
|---|---|---|
For the year ending 31 March 2024, 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 2024 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 ___ 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 2024
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.
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 2024
2 NET INCOME/(EXPENDITURE) FOR THE YEAR
| The Net income/(expenditure) is stated after charging: Depreciation - owned assets Accountants - independent examination Accountants - operators grants (Profit)/ loss on disposal of fixed assets Directors' emoluments and other benefits etc DONATIONS & LEGACIES - GRANTS AND DONATIONS GRANTS Leighton Linslade Council Community Fund Connolly Foundation Percy Bilton Masonic Charitable Foundation Beds & Luton Community Foundation Grant National Lottery Wixam Tree Tesco Garfield Weston Albert Hunt |
2024 £ 27,587 2,250 375 ( 640) - 2024 £ 4,896 13,520 10,000 6,400 5,000 10,000 - - - - - 49,816 |
2023 £ 28,515 600 150 2,022 - 2023 £ 4,349 - - 5,000 - 10,000 5,000 1,000 5,000 5,000 35,349 |
|---|---|---|
3 DONATIONS & LEGACIES - GRANTS AND DONATIONS
The Leighton Linslade Council grant was restricted, provided specifically for bus operating costs (10 week vehicle checks). The Community Fund, Percy Bilton, Beds & Luton Community Foundation, Connolly Foundation grants were all restricted to contribute to the purchase of a new bus.
DONATIONS
| Donations Received Gift Aid |
2024 £ 4,202 298 4,500 |
2023 £ 8,424 180 8,604 |
|---|---|---|
In addition to general donations, there were the following significant donations in year: £1,000 A Hill (2023: In Memory Mrs June Morris £5,000.)
| 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 |
54,316 2024 £ 90,000 71,069 37,240 5,693 982 120 205,104 |
43,953 2023 £ 90,000 64,820 32,027 4,971 888 - 192,706 |
|---|---|---|
4 INCOMING RESOURCES FROM CHARITABLE ACTIVITIES
Page 10
BUZZER BUSES (DIAL A RIDE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2024
5 OTHER TRADING ACTIVITIES
| 2024 £ Subscriptions 2,549 Other Income - Profit on sale of tangible fixed asset 640 3,189 STAFF COSTS The average number of persons employed by the charity during the year, analysed by category, w 2024 Drivers 8 Administration 4 Passenger Assistants 1 13 2024 £ Salaries 175,694 Social security costs 6,111 Pension costs 2,197 184,002 |
2023 £ 1,435 - - 1,580 as as follows: 2023 6 4 1 11 2023 £ 147,861 3,797 1,375 153,033 |
|---|---|
6 STAFF COSTS
The average number of persons employed by the charity during the year, analysed by category, was as follows:
No employee earned in excess of £60,000 per annum (2023 - none).
Page 11
BUZZER BUSES (DIAL A RIDE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2024
7 EXPENDITURE ON CHARITABLE ACTIVITIES
| Payroll Charitable Activities Employment costs 184,002 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 (Profit)/ loss on disposal of tangible fixed assets 184,002 Other Costs Audit & Independent examination fees - 184,002 |
Bus Operating Costs 34,879 25,513 60,392 - 60,392 |
Support Costs 9,204 5,953 837 217 2,909 687 790 193 2,074 22,864 - 22,864 |
Governance - 2,625 2,625 2,625 |
2024 £ 184,002 34,879 25,513 9,204 5,953 837 217 2,909 687 790 193 2,074 - 267,258 2,625 2,625 269,883 |
2023 £ 153,033 35,262 26,578 8,939 3,754 1,420 120 2,522 455 675 200 1,937 2,022 236,917 750 750 237,667 |
|---|---|---|---|---|---|
8 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 2024
9 TANGIBLE FIXED ASSETS
| Motor vehicles £ COST At 1 April 2023 190,754 Additions 52,905 Disposals ( 34,686) At 31 March 2024 208,973 DEPRECIATION At 1 April 2023 91,337 Charge for year 25,513 Disposals ( 34,326) At 31 March 2024 82,524 NET BOOK VALUE At 31 March 2024 126,449 At 31 March 2023 99,417 10 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade Debtors Other debtors Prepayments and accrued income 11 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Taxation and social security Accruals and deferred income |
Office & computer equipment £ 16,014 346 ( 3,614) 12,746 12,054 2,074 ( 3,614) 10,514 2,232 3,960 2024 £ 8,281 1,192 4,653 14,126 2024 £ 2,874 3,339 4,616 10,829 |
Totals £ 206,768 53,251 ( 38,300) 221,719 103,391 27,587 ( 37,940) 93,038 128,681 103,377 2023 £ 13,555 1,306 7,386 22,247 2023 £ 3,504 2,328 2,508 8,340 |
|---|---|---|
12 TAXATION
The company is a registered charity and is exempt from corporation tax.
13 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 (2023: £nil).
Page 13
BUZZER BUSES (DIAL A RIDE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2024
14 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 2023 £ 111,415 65,000 57,266 233,681 5,000 5,000 238,681 |
Incoming resources £ 214,861 5,000 219,861 44,816 44,816 264,677 |
Resources expended £ 264,986 264,986 4,897 4,897 269,883 |
Transfers £ 63,100 ( 18,181) 44,919 ( 44,919) ( 44,919) - |
At 31 March 2024 £ 124,390 65,000 44,085 233,475 - - 233,475 |
|---|---|---|---|---|---|
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. Some of the reserves have been spent in the year and some are being carried forward for the replacement of the fleet in due course.
The capital assets fund represents income that has been restricted on the terms mainly to purchase a new bus in the year. This has been transferred as a bus was purchased in the year.
15 ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Fund balances at 31 March 2024 are represented by: Tangible fixed assets Net current assets Net assets |
Restricted funds £ - - |
Designated funds £ 109,085 109,085 |
General funds £ 128,681 ( 4,291) 124,390 |
2024 Total £ 128,681 104,794 233,475 |
2023 Total £ 103,377 135,304 238,681 |
|---|---|---|---|---|---|
16 RELATED PARTY TRANSACTIONS
There were no related party transactions, other than those disclosed below.
Trustees received expenses totalling £379 during the year (2023 - £94).
Cost of remuneration for key management personnel amounted to £48,218 (2023 - £42,286).
No trustees received any remuneration during the year. (2023 - £NIL).
Page 14
BUZZER BUSES (DIAL A RIDE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2024
17 CAPITAL COMMITMENTS
As at 31 March 2024 the company had contracted to purchase motor vehicles of £62,400 (2023: £63,100).
Page 15