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2022-03-31-accounts

Accessible Transport West Somerset (A Charitable Company Limited by Guarantee)

Annual Report and Unaudited Financial Statements

For the Year Ended 31 March 2022

Charity Registered in England and Wales Number: 1111116 Company registration number: 05398337

Accessible Transport West Somerset Contents For the Year Ended 31 March 2022

Page
Reference and Administrative Details 1
Trustees’ Report 2 – 5
Independent Examiner’s Report to the Trustees 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to Financial Statements 9 – 19

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Accessible Transport West Somerset Reference and Administrative Details For the Year Ended 31 March 2022

Charity Name Accessible Transport West Somerset
Other Names ATWEST
Trustees Mr D Bates
Mr R Bryant
Mr M Dewdney
Mrs A M Foxhuntley
Major R C McDonald (Chair)
Ms J Parbrook
Company Secretary & General Manager Mr B Worrall (Until 01/06/2022)
Company Registration Number 05398337
Charity Number 1111116
Principal Address and Registered Office Acorn Park
Brunel Way
Minehead
Somerset
TA24 5BY
Independent Examiner Michelle Ferris BSc (Hons) FCA DChA
Albert Goodman LLP
Goodwood House
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX

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Page 1

Accessible Transport West Somerset Trustees’ Report For the Year Ended 31 March 2022

The Trustees’ present their report and accounts for the year ended 31 March 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements, comply with the Charity’s governing document, applicable law and the requirement of the Statement of Recommended Practice, “Accounting and Reporting by Charities” (SORP FRS 102) (implemented 1 January 2019).

Trustees

The Trustees serving during the period and since the period end are as follows:

STRUCTURE, GOVENANCE AND MANAGEMENT

Nature of governing document

Accessible Transport West Somerset (“Atwest”) is a company limited by guarantee which was incorporated on 18 March 2005. The company was incorporated as a company limited by guarantee and has no share capital. The guarantee to the company is £1 per member on winding up of the company. Its governing document is the memorandum and articles of association dated 18 March 2005. It is registered as a charity with the Charity Commission.

Recruitment and appointment of trustees

Anyone may become a member subject to approval by the Trustees who are also directors for the purpose of company law.

OBJECTIVES AND ACTIVITIES

The objective of the company is for the relief of those in need by reason of youth, age, ill health, disability, financial hardship, rural isolation or other disadvantage, in particular, but not exclusively, by providing transport for all community groups and individuals whose needs are not met by conventional transport.

Public benefit

The company provides community transport. The requirement for community transport has been highlighted by central government, which has provided funding to local authorities to identify areas of need within local communities and provide funding as appropriate. This means that the residents of West Somerset and the surrounding area who are unable to use more conventional methods of transport and meet the criteria of the company’s objectives benefit substantially by enabling them to access transportation in a manner and at a cost which would otherwise be unavailable to them.

The trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

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Page 2

Accessible Transport West Somerset Trustees’ Report For the Year Ended 31 March 2022

ACHIEVEMENTS AND PERFORMANCE

The main activities undertaken include, provision of community transport, providing transport for schoolchildren, operation of scheduled bus services around West Somerset and provision for a dial a ride service (Slinky) under contract with the Local Authority.

The charity aims to provide access to transport services in West Somerset to improve the health and well being of the residents of the area where needed. There is a lack of affordable transport in the area and by a program of communication and awareness we hope to improve the lives of residents we aim to serve. It is hoped by adopting a vigorous policy our legal aims can be achieved.

We carry out regular reviews with our customers and receive their feedback which enables us to assess our success and make improvements where necessary.

Our activities are aimed at providing transport to areas where there is no provision available to people. The services we provide contribute to the stated aims and objectives.

We are constantly reviewing our charitable activities with the aim of how they can be improved for the benefit of our customers. Although we have improved our objectives during the year following the aftereffects of the coronavirus pandemic, we are still not able to achieve our aims in the area of community transport. We are still working on this area of our business, and we hope to reach our aim in the future.

CHAIRMANS REPORT

This year has been a difficult period following the effects of the coronavirus pandemic. However, our drivers and staff have remained in work, and we are still able to maintain our school runs, scheduled services, and slinky contracts. We have not been able to maintain our community transport work fully but have started shopper services. We have managed to retain all our funding and contracted income. A number of grants have been received in addition. There has been considerable improvement to the building and vehicle yards and work is continuing on these.

Finally, I have to thank all of the office staff and drivers for the work that they managed to perform in continuing difficult circumstances.

We wish all our customers continued good health and look forward to helping you in the coming year.

Robert McDonald Chairman

FINANCIAL REVIEW

The total income of the charity for the year was £399,477 (2021: £494,368). The charity’s principal funding sources are transport service contracts with the Local Authority, as well as grants and donations.

The charity’s total expenditure was £391,052 (2021: £354,556); all expenditure is in line with the key objectives of the charity.

This leaves a surplus of £8,425 to be added to reserves (2021: £258,811), leaving reserves at the end of the year of £502,859 (2021: £494,434 (after extraordinary items)), of which £nil is restricted (2021: £36,000).

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Page 3

Accessible Transport West Somerset Trustees’ Report For the Year Ended 31 March 2022

Policy on reserves

It is the objective to maintain free reserves of five to six month’s gross expenditure (estimated £149,000) in order that unexpected revenue requirements, renewals and minor improvements may be met. Free reserves at the year end amounted to £382,500, of which £245,000 has been designated.

The designated funds held of £245,000 are for the provision of the following:

Investment policy and objectives

The trustees have the power to invest any monies not required for the immediate provision of a charitable activity, in any investment authorised by law for the investment of Trust Funds.

PLANS FOR FUTURE PERIODS

Following the Coronavirus Pandemic we are hopeful of recommencing Community Transport including Shopper Services and Day Trips. We are also investigating purchase of the land we currently occupy from Somerset West and Taunton Council. It is also our plan to purchase a further motor vehicle and are looking at Electric Vehicles and funding available. We are aware of the age situation regarding some of our staff and plan on recruiting further employees.

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Page 4

Accessible Transport West Somerset Trustees’ Report For the Year Ended 31 March 2022

Statement of Trustees’ Responsibilities

The trustees (who are also directors of Accessible Transport West Somerset for the purposes of company law) are responsible for preparing the Trustees' Report (incorporating the directors’ report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements, and

The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

By order of the Trustees.

Major R C McDonald Chairman

Date: 28 September 2022

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Page 5

Accessible Transport West Somerset Independent Examiner’s Report to the Trustees For the Year Ended 31 March 2022

Independent examiners report to the Trustees of Accessible Transport West Somerset

I report to the trustees on my examination of the accounts of Accessible Transport West Somerset (“the Company”) for the year ended 31 March 2022.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

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 the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no material 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 comply with these records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a “true and fair view” which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Michelle Ferris BSc (Hons) FCA DChA Goodwood House for and on behalf of Blackbrook Park Avenue Albert Goodman LLP Taunton Chartered Accountants Somerset TA1 2PX

Date: 3 October 2022

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Page 6

Accessible Transport West Somerset Statement of Financial Activities (including the Income and Expenditure Account) For the Year Ended 31 March 2022

Income:
Donations and legacies
3
Charitable activities
4
Investments
Other
5
Total income
Expenditure on:
Charitable activities
6
Total expenditure
Net income/(expenditure)
before other recognised
gains/(losses)
Transfers between funds
13
Net (expenditure)/income
before extraordinary items
Extraordinary items
7
Net movement in funds
Reconciliation of funds
Total funds brought forward
13
Total funds carried forward
Note		 Unres-
tricted
£
8,292
377,153
893
-		 Res-
tricted
£
13,140
-
-
-		 Total
2022
£
21,432
377,153
893
-		 Unres-
tricted
£
48,239
368,726
8
558		 Res-
tricted
Total
2021
£
£
76,836
125,075
-
368,726
-
8
-
558
386,337 13,140 399,477 417,532 76,836
494,368
25,836
354,556
377,912 13,140 391,052 328,720
377,912 13,140 391,052 328,720 25,836
354,556
51,000
139,812
8,425 - 8,425 88,812
36,000 (36,000) - 15,000 (15,000)
-
44,425
-		 (36,000)
-		 8,425
-		 103,812
118,999		 36,000
139,812
118,999
44,425
458,434		 (36,000)
36,000		 8,425
494,434		 222,811
235,623		 36,000
258,811
-
235,623
502,859 - 502,859 458,434 36,000
494,434

The statement of financial activities has been prepared on the basis that all operations are continuing operations. There were no gains or losses arising in the period that are not shown above.

The statement of financial activities incorporates the income and expenditure account.

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Page 7

Accessible Transport West Somerset- Company Registration Number: 05398337 Balance Sheet As at 31 March 2022

Note 2022
2021
£
£
Fixed assets
Tangible fixed assets
10		 120,359
100,701
Current assets
Debtors
11
Cash at bank and in hand		 51,517
375,335		 80,161
339,992
Liabilities
Creditors falling due within one year
12		 426,852
(44,352)		 420,153
(26,420)
Net current assets 382,500
393,733
Total net assets 502,859
494,434
The funds of the charity:
Restricted funds
13		 -
36,000
Unrestricted funds
General
13		 257,859 223,434
Designated
Total unrestricted funds		 245,000 235,000
502,859
458,434
Total charity funds 502,859
494,434

These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

For the year in question, the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the charitable company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Act.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of the accounts.

Approved by the Board for issue on 28 September 2022 and signed on their behalf by:

Mr D Bates Major R C McDonald Trustee Chairman

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Page 8

Accessible Transport West Somerset Notes to the Financial Statements For the Year Ended 31 March 2022

1 Accounting policies

The principle accounting policies adopted in the preparation of the financial statements are:

1.1

General information and basis of accounting

Accessible Transport West Somerset is a company limited by guarantee, incorporated in the United Kingdom under the Companies Act. The maximum liability of each member is £1. The address of the registered office is given on page 1. The nature of the charity’s operations and its principal activities are set out in the Trustees report on pages 2-5.

The financial statements have been prepared in £ sterling on the historical cost basis and in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) – (Charities SORP FRS 102) and the Companies Act 2006.

The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

1.2

Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Donations and legacies are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

Grants, including government grants, are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Charitable activities income is recognised when the service has been delivered.

1.3 Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category.

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Page 9

Accessible Transport West Somerset Notes to the Financial Statements For the Year Ended 31 March 2022

1.4 Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life as follows:

Leasehold Land & Buildings 14yr straight line (over life of lease) Furniture and equipment 25% reducing balance Motor vehicles 25% reducing balance Office Equipment 25% reducing balance

Individual fixed assets costing £200 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

1.5 Debtors

Trade debtors and accrued income are recognised at the settlement amount due after any trade discount offered and any impairment necessary. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.6 Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.7 Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

1.8

Pension contributions

The charity operates a defined contribution pension scheme. The scheme and its assets are held by independent managers. Contributions are recognised in the Statement of Financial Activities in the period in which they become payable in accordance with the rules of the scheme.

1.9 Fund accounting

Funds held by the charitable company are one of the following types:-

1.10 Taxation

As a registered charity, the company is exempt from corporation tax and capital gains tax to the extent that income and gains are applied to charitable purposes, but not Value Added Tax.

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Page 10

Accessible Transport West Somerset Notes to the Financial Statements For the Year Ended 31 March 2022

1.11 Financial instruments

The charity only holds basic financial instruments as defined in FRS 102. The financial assets and liabilities of the charity and their measurements are as follows:

Financial assets – trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank – is a basic financial instrument and is measured at face value.

Financial liabilities – trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial liability.

2 Net (expenditure)/income before transfers

----- Start of picture text -----
2022 2021
£ £
Net expenditure for the period is stated after charging
Pension costs 2,281 2,931
Depreciation 35,516 29,967
Loss on disposal of fixed assets 503 -
Accountants' fees
Independent examination fees 810 785
Other services 1,500 1,065
----- End of picture text -----

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Page 11

Accessible Transport West Somerset Notes to the Financial Statements For the Year Ended 31 March 2022

3 Income from donations and legacies

----- Start of picture text -----
Unres- Res- 2022 Unres- Res- 2021
tricted tricted Total tricted tricted Total
£ £ £ £ £ £
Donations and legacies
Donations 70 - 70 1,235 - 1,235
- -
Somerset Community Foundation 1,000 1,000 38,880 38,880
Florence Cohen Charitable Trust - - - 1,500 - 1,500
West Somerset Lottery 106 - 106 104 - 104
- - - -
Darlington Trust 3,000 3,000
Norman Family Trust - - - 500 - 500
- - - -
Sir Jules Thron Charity Trust 1,000 1,000
- - - -
Independent Age 13,140 13,140
The National Lottery
- - - -
Community Fund 37,956 37,956
Parish Councils - - - 321 - 321
Exceptional government funding
Coronavirus Job Retention Scheme
Grant 2,595 - 2,595 27,079 - 27,079
Other Government Grants 1,520 - 1,520 16,500 - 16,500
8,292 13,140 21,432 48,239 76,836 125,075
----- End of picture text -----

*denotes government funding

The charity has been eligible to claim additional funding in year from government support schemes in response to the coronavirus outbreak. The funding received is shown above under “exceptional government funding”. The charity furloughed some of its staff under the governments CJRS. The funding received of £2,595 relates to staff costs which are included within note 9 as appropriate. Staff entered into the furlough scheme were those directly involved with non-government funded income streams.

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Page 12

Accessible Transport West Somerset Notes to the Financial Statements For the Year Ended 31 March 2022

4 Income from charitable activities

----- Start of picture text -----
Unres- Res- 2022 Unres- Res- 2021
tricted tricted Total tricted tricted Total
£ £ £ £ £ £
Income from charitable activities
- -
Transport Income 127,535 127,535 136,398 136,398
- - - -
Charges for Vehicle - SCC 9,142 9,142
School Bus Driver Contract 87,063 - 87,063 85,779 - 85,779
Slinky Contract 99,129 99,129 96,594 96,594
Exmoor School Routes 49,120 - 49,120 47,118 - 47,118
- - - -
Shopper Bus 2,978 2,978
- -
Bus Service Operators Grant 2,185 2,185 2,837 2,837
- -
377,153 377,153 368,726 368,726
----- End of picture text -----

5 Other income

Other income
Hire
Other miscellaneous income		 Unres-
tricted
£
-
-
-		 Res-
tricted
£
-
-
-		 2022
Total
£
-
-
-		 Unres-
tricted
£
16
543
558		 Res-
tricted
2021
Total
£
£
-
16
-
543
-
558

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Page 13

Accessible Transport West Somerset Notes to the Financial Statements For the Year Ended 31 March 2022

6 Expenditure on charitable activities

Unres-
tricted
£		 Res-
tricted
£		 2022
Total
£		 Unres-
tricted
£		 Res-
tricted
2021
Total
£
£
Direct costs
Driver wages
Driver admin costs
Motor expenses
Sub contracted drivers
Loss on disposal of assets		 118,396
1,493
60,376
34,309
503		 5,356
-
4,284
-
-		 123,752
1,493
64,660
34,309
503		 134,713
720
46,079
25,835
-		 -
134,713
-
720
-
46,079
-
25,835
-
-
Total direct costs
Support costs
Administrative costs		 215,077 9,640 224,717 207,347 -
207,347
Wages
107,105
Travel and subsistence
2
Room hire
110
Subscriptions
7,933
Public liability & trustees insurance
1,772
Advertising
762
Office expenses
5,314
Sundry expenses
2,140		 -
-
-
-
-
-
3,500
-		 107,105
2
110
7,933
1,772
762
8,814
2,140		 77,785
80
-
8,227
1,659
55
4,539
10,231		 9,024
86,809
-
80
-
-
-
8,227
-
1,659
-
55
4,386
8,925
-
10,231
125,137
Land, building and property costs
Rent
5,880
Rates
631
Insurance
759
Establishment costs
18,074
Equipment hire & repairs
3,435
28,779
Legal costs
Legal & professional fees
4,615
Accountancy and bookkeeping
4,303
8,918
Total support costs
162,835
Total costs
377,912		 3,500
-
-
-
-
-
-
-
-
-
3,500
13,140		 128,637
5,880
631
759
18,074
3,435
28,779
4,615
4,303
8,918
166,335
391,052		 102,575
4,179
632
711
4,009
5,292
14,823
-
3,975
3,975
121,373
328,720		 13,410
115,985
1,553
5,732
-
632
-
711
10,873
14,882
-
5,292
12,426
27,249
-
-
-
3,975
-
3,975
25,836
147,209
25,836
354,556

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Page 14

Accessible Transport West Somerset Notes to the Financial Statements For the Year Ended 31 March 2022

7 Extraordinary items

Refund from external fraud
Interest received on refund
of external fraud		 Unres-
tricted
£
-
-
-		 Res-
tricted
£
-
-
-		 2022
Total
£
-
-
-		 Unres-
tricted
£
96,500
22,499
118,999		 Res-
tricted
2021
Total
£
£
-
96,500
-
22,499
-
118,999

8 Trustee Expenses

No trustees have received any remuneration, reimbursed expenses or any other benefits from the charity during the year (2021: none).

Please see note 15 for related party transactions.

9 Employee costs

----- Start of picture text -----
2022 2021
£ £
Wages and salaries 202,834 211,702
Social security costs 7,452 6,889
Pension costs 2,281 2,931
-
Termination Payment 18,290
230,857 221,522
----- End of picture text -----

The average monthly head count was 18 staff (2021: 20 staff).

During the year, costs totalling £18,290 were paid to one employee in respect of a settlement agreement and Payment In Lieu of Notice. The amounts are full and final, and no amounts have been accrued at the balance sheet date.

No employee received remuneration of more than £60,000 in the period (2021: none).

The charity operates a defined benefit pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £2,281 (2021: £2,931).

Contributions of £704 were payable to the scheme at the end of the year (2021: £630).

The key management personnel of the charity is considered to be the general manager. The total costs to the charity of employee benefits for the key management personnel were £46,155 (2021: £33,387).

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Page 15

Accessible Transport West Somerset Notes to the Financial Statements For the Year Ended 31 March 2022

10 Tangible fixed assets

----- Start of picture text -----
Leasehold Furniture
Land and and Motor Office
buildings equipment Vehicles equipment Total
£ £ £ £ £
Cost
At 1 April 2021 137,427 5,767 178,630 4,358 326,182
Additions - - 55,844 - 55,844
- - -
Disposals (6,667) (6,667)
At 31 March 2022 137,427 5,767 227,807 4,358 375,359
Depreciation
At 1 April 2021 97,216 5,397 121,060 1,808 225,481
Charge for the year 10,052 100 24,724 640 35,516
- - -
Eliminated on disposal (5,997) (5,997)
At 31 March 2022 107,268 5,497 139,787 2,448 255,000
Net book value
At 31 March 2022 30,159 270 88,020 1,910 120,359
At 31 March 2021 40,211 370 57,570 2,550 100,701
----- End of picture text -----

11 Debtors

----- Start of picture text -----
2022 2021
£ £
Trade debtors 34,617 35,500
Prepayments 9,184 34,848
Other debtors 7,716 9,813
51,517 80,161
----- End of picture text -----

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Page 16

Accessible Transport West Somerset Notes to the Financial Statements For the Year Ended 31 March 2022

12 Creditors: Amounts falling due within one year

----- Start of picture text -----
2022 2021
£ £
Trade creditors 6,455 4,887
Other creditors 15,087 17,540
Accruals 22,810 3,993
44,352 26,420
----- End of picture text -----

13 Summary of movement in funds

----- Start of picture text -----
Opening Closing
Balance Balance
1 Apr 2021 Income Expenditure Transfers 31 Mar 2022
£ £ £ £ £
Restricted funds
- - -
Somerset Community Foundation 36,000 (36,000)
- - -
Independent Age 13,140 (13,140)
Total restricted funds 36,000 13,140 (13,140) (36,000) -
Unrestricted funds
General fund 223,434 386,337 (377,912) 26,000 257,859
- - -
Vehicle replacement fund 80,000 80,000
- -
Designated funding reserve 235,000 (70,000) 165,000
Total unrestricted funds 458,434 386,337 (377,912) 36,000 502,859
Total funds 494,434 399,477 (391,052) - 502,859
----- End of picture text -----

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Page 17

Accessible Transport West Somerset Notes to the Financial Statements For the Year Ended 31 March 2022

13 Summary of movement in funds – prior year

----- Start of picture text -----
Opening Closing
Balance Balance
1 Apr 2020 Income Expenditure Transfers 31 Mar 2021
£ £ £ £ £
Restricted funds
- -
Somerset Community Foundation 38,880 (2,880) 36,000
- -
The National Lottery 37,956 (22,956) (15,000)
Total restricted funds - 76,836 (25,836) (15,000) 36,000
Unrestricted funds
General fund 210,623 536,531 (328,720) (195,000) 223,434
- - -
Vehicle replacement fund 20,000 (20,000)
- -
Designated funding reserve 5,000 230,000 235,000
Total unrestricted funds 235,623 536,531 (328,720) 15,000 458,434
Total funds 235,623 613,367 (354,556) - 494,434
----- End of picture text -----

The specific purposes for which the funds are to be applied are as follows:

General funds represent ‘free’ reserves after allowing for all designated funds.

Designated Funding Reserves comprise a provision for committed expenditure and future expenditure such as redundancy liability, Land Purchase Fund and a Building Maintenance Fund.

Vehicle replacement fund was a designated fund towards the cost of future vehicles.

The Independent Age fund has been received towards the re-establishment of face-to-face services for older people.

Somerset Community Foundation- The amount of £36,000 was received towards the costs of a new vehicle. The vehicle was ordered in August 2020 and there was a considerable delay in delivery to us, due to the coronavirus pandemic. We received the vehicle during August 2021. Funds have been transferred in accordance with the SORP following the acquisition of capital items.

National Lottery- This was a grant received from HM government in partnership with The National Lottery Community Fund to assist us to recommence Community Transport following the various lockdowns.

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Accessible Transport West Somerset Notes to the Financial Statements For the Year Ended 31 March 2022

14 Analysis of assets between funds

Tangible assets
Current assets
Current liabilities
Prior year
Tangible assets
Current assets
Current liabilities		 Unrestricted
funds
£
120,359
181,852
(44,352)
257,859
Unrestricted
funds
£
100,701
149,153
(26,420)
223,434		 Designated
funds
£
-
245,000
-
245,000
Designated
funds
£
-
235,000
-
235,000		 Restricted
funds
£
-
-
-
-
Restricted
funds
£
-
36,000
-
36,000		 2022
Total
funds
£
120,359
426,852
(44,352)
502,859
2021
Total
funds
£
100,701
420,153
(26,420)
494,434

15 Related Party Transactions

During the year the company made the following related party transaction:

During the year Mrs J Bates, wife of a trustee, provided the charity with bookkeeping services for £1,980 (2021 - £2,125).

16 Company limited by guarantee

The company was incorporated as a company limited by guarantee and has no share capital. The guarantee to the company is £1 per member on winding up of the company. At 31 March 2022, the company had 8 members and the total amount guaranteed was therefore £8.

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