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← Accessible Transport West Somerset

2024-03-31-accounts

Accessible Transport West Somerset {A Charltable Company Llmited by Guarantee) Annual Report and Unaudited Financial Statements For the Year Ended 31 March 2024 Charlly Roglstered In England and Walès Number: 1111116 Company registration numbar: 05398337

Accessible Transport West Somerset Contents For the Year Ended 31 March 2024 Pa Reference and Administrative Details Trust8es' Report Independent Examiner's Report to the Trustees Statement of Financial Activities Balance Sheet Notes to Flnancial Stalem8nts 9-18 PrOdU￿d by Albert Goodman LLP

Accessible Transport West Somerset Reference and Administrative Details For the Year Ended 31 March 2024 Charity Name Accessible Transport West Somerset Other Names ATWEST Trustees Mr D Bates Mr R Bryant Mr D R Croxton Mr M Dewdney Major R C McDonald (Chair) Ms J Parbrook Company Secretary & General Manager Mr S Stanford Company Reglstratlon Number 05398337 Charity Number 1111116 Principal Address and Reglstered Offlce Acorn Park Brunel Way Minehead Somerset TA24 5BY Independent Examiner Mlchelle Ferris Bsc {Hons) FCA DChA Albert Goodman LLP Goodwood House Blackbrook Park Av8nue Taunton Somerset TA12PX Produced by Albert Goodman LLP Page 1

Accessible Transport West Somerset Trustees, Report For the Year Ended 31 March 2024 The Trustees, present their report and accounts for the year ended 31 March 2024. 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: Mr D Bates Mr R Bryant Mr D R Croxton Mr M Dewdney Mrs A M Foxhuntley (resigned 20 June 2023) Major R C McDonald Ms J Parbrook (appointed 27 September 2023) 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, Recrultment and appointmont 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. Publlc 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. Produced by Albert Goodman LLP Page 2

Accessible Transport West Somerset Trustees, Report For the Year Ended 31 March 2024 ACHIEVEMENTS AND PERFORMANCE The main activity undertaken is the provision of Community Transport in West Somerset using minibuses with disabled access. This includes two bus services. slinky dial ride, shopper bus and several school contracts run on behalf of Somerset Council. Our aim is to provide transport to those with disabilities, mental or physical, to those people without any other transport. We regularly review and quality control our services and improve where necessary, Our passenger numbers have increased, some as much as 450/0. We have made the local community aware of our presence by advertising in several ways. During the year, we had passenger movements of 6,604 for slinky and shopper, and 25,000 for the 10 and 198 services. This demonstrates the fantastic and hugely required services we provide to local people. We started group travel for care homes in the area taking disabled people out for short outings. Our Travel club has restarted and proving very popular providing day trips for elderly residents in our area. GENERAL MANAGER REPORT Since my report last year, the business has gained stability and associated with continued passenger increases from active promotion of our services and an excellent customer services team achieving a hundred per cent reliability for our customers, We continue to pursue the purchase of our premises from Somerset County Council although our request is still under review. Our plans for electric vehicles are on hold at present until there are proven vehicles available in the marketplace and backup available for maintenance and repair. To summarize, Atwest is performing well as a business however we continue to look at our costs and make savings where possible to ensure a secure future for all concerned. Simon Stanford General Manager Produced by Albert Goodman LLP Page 3

Accessible Transport West Somerset Trustees, Report For the Year Ended 31 March 2024 CHAIRMANS REPORT The Company has continued to improve our business. We have secured some of our contracts with the Council. including a renewal of our Slinky contracl and two school contracts, securing our business plan and future. We have continued to recruit our drivers and at present, we are fully resourced. We continue to make improvements to fleet. The management of the company continues to go from strength to strength and the company is very viable and serves the area with a very efficient transport system. l am sorry to report that one of the original founders of the company and longest serving director, Ann Foxhuntley, died during the financial year. We have continued to ensure that the business remains on a sound financial footing. Once again. I have to thank our office staff and drivers for their commitment to the successful results We continue to maintain a good relationship with our customers. Robert McDonald Chalrman FINANCIAL REVIEW The total income of the charlty for the year was £458,272 {2023: £419,111). 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 £453,579 {2023'. £387,594),. all expenditure is in line with the key objectives of th6 charity. This leaves a surplus of £4,693 to be added to reserves (2023.. £31,517), leaving reserves at the end of the year of £539,069 {2023', £534,376), of which £nil is restricted (2023; £nil). Pollcy on reserves It is the objective to maintain free reserves of five to six month's gross expenditure (estimated £180,000) in order that unexpected revenue requirements, renewals and minor improvements may be met. Free reserves at the year end amounted to £431,216, of which £264,000 has been designated. The designated funds held of £264,000 are for the provision of the following.. Funding Reserves (in event of redundancy payments or unexpected wage costs) Land Purchase Fund (for the proposed purchase of the Acorn Park site) Vehicle Replacement Fund (towards the cost of new vehicles particularly electric powered> Building Maintenance Fund (to maintain the external and internal fabric of the building). 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 To try and purchase the land we currently lease from Somerset Council to improve our future security as a business. Continue to provide quality and reliable services for our customers whilst maintaining existing and increasing passenger numbers. Produced by Albert Goodman LLP Page 4

Accessible Transport West Somerset Trustees' Report For the Year Ended 31 March 2024

Statement of Trustees' Responsibilities

The trustees (who are also directors of Accessible Transport West Somerset for the purposes of company law) are responsible for[p] reparing 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 re[q] uires 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 re[q] uired to:

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

M ajor R C M cDonald Chairman

Date 03 September 2024

Produced by Albert Goodman LLP

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Accessible Transport West Somerset Independent Examiner’s Report to the Trustees For the Year Ended 31 March 2024

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 2024.

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 for and on behalf of Albert Goodman LLP Chartered Accountants

Goodwood House Blackbrook Park Avenue Taunton Somerset TA1 2PX

Date: 09 September 2024

Produced by Albert Goodman LLP

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Accessible Transport West Somerset Statement of Financial Activities (including the Income and Expenditure Account) For the Year Ended 31 March 2024 Unres- tricted Res- tricted Unres- tricted Res- tricted Total Total 2023 2024 Note Income: Donations and legacies Charitable activities Investments Other 5,017 446,013 7,171 71 5,017 446,013 7,171 71 136 415.641 3.284 50 136 415.641 3,284 50 Total income 458,272 458,272 419,111 419,111 Expenditur6 on: Charitable activities 453,579 453,579 387,594 387,594 Total expendlture 453,579 453,579 387,594 387,594 Net Incomel(expendlture) for the year before transfers 4,693 4,693 31,517 31,517 Transfers bfrtwefrn funds Net movement in funds 4,693 4,693 31,517 31,517 Reconclllatlon of funds Total funds brought forward 534,376 534,376 502,859 502,859 Total funds carried fonNard 539,069 539,069 534,376 534,376 The stalement 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. Produced by Albert Goodman LLP Page 7

Accessible Transport West Somerset- Company Registration Number: 05398337 Balance Sheet As at 31 March 2024

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2024 2023
£ £
Note
Fixed assets
Tangible fixed assets 8 107,853 87,747
Current assets
Debtors 9 63,778 58,910
Cash at bank and in hand 398,645 418,915
462,423 477,825
Liabilities
Creditors falling due within one year 10 (31,207) (31,196)
Net current assets 431,216 446,629
Total net assets 539,069 534,376
The funds of the charity:
Restricted funds 11 - -
Unrestricted funds
General 11 275,069 270,376
Designated 264,000 264,000
Total unrestricted funds 539,069 534,376
Total charity funds 539,069 534,376
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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 03 September 2024 and signed on their behalf by:

Mr D Bates Major R C McDonald Trustee Chairman

Produced by Albert Goodman LLP

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Accessible Transport West Somerset Notes to the Financial Statements For the Year Ended 31 March 2024 Accountlng pollcles The principle accounting policies adopted in the preparation of the financial statements are: 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 2006. 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 Praclice applicable to charltles 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 liabilittes are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note{s). Income All income is recognSsed once the charity has entitlement to the income, it is probable that the income will be received and the amounl of income receivable can be measured reliably. Donations and legacies are recognised when the charity has been notified in writing ol 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 Ilability and included on the balance sheet as deferred income to be released. Charitable activities Income Is recognised when the service has been delivered. Expendlture 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 lo the category. Produced by Albert Goodman LLP Page 9

Accessible Transport West Somerset Notes to the Financial Statements For the Year Ended 31 March 2024 Tangible fixed assets and depreclation 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 exp&cted usefvl life as follows.. Leasehold Land & Buildings Furniture and equipment Motor vehicles Office Equipment 14yr straight line (over life of lease) 25 % reducing balance 25 % reducing balance 250/0 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 evenl 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. Penslon contrlbutlons The charity operates a defined contribution pension scheme. The scheme and its assets are held by independent managers. Contributions are recognised in the Stalement of Financial Activities in the period in which they become payable In accordance with the rules of the scheme. Fund accountlng Funds held by the charitable company are one of the following types:. Unrestricted general funds these funds can be used in accordance with the charitable objects at the discretion of the Trustees. Designated funds these funds are set aside out of unrestricted general funds for specific future purposes at the discretion of the trustees. Restricted funds these funds can only be used for the particular restricted purposes within the objects of the charily. Reslriclions arise when funds raised are for a specific purpose. Further explanations of the nature and purpose of each fund are included in the notes to the financial statements. 1.10 Taxatlon As a registered charity, the company is exempt from corporation tax and capital gains tax to the extent that income and gains ar8 applied to charitable purposes, but not Value Added Tax. Produced by Alberl Goodman LLP Page 10

Accessible Transport West Somerset Notes to the Financial Statements For the Year Ended 31 March 2024 1.11 Flnanclal Instruments The charity only holds basic financial instruments as defined in FRS 102. The financial assets and liabilities of the charity and their measurernents are as follows: Financial assets trade and other debtors are basic financial instruments and are debt instruments measured at amortised cosl. 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 al amortised cost. Taxalion 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. Net (expenditure)lincome before transfers 2024 2023 Net expenditure for the period is stated after charging Pension costs Depreciation (Profit)ILoss on disposal of fixed assets Accountants, fees Independent examination fees other services 2.510 37,684 {4,300) 2,353 32,612 890 2,630 850 1,870 PrOdU￿d by Albert Goodman LLP Page11

Accessible Transport West Somerset Notes to the Financial Statements For the Year Ended 31 March 2024 Income from donations and legacles Unres- tricted Res- trlcted 2024 Total Unres- tricted Res- tricted 2023 Total Donations and legacies Donations Somerset Community Foundation West Somerset Lottery Norman Family Trust 32 32 2,500 17 2,500 2,500 17 2,500 104 104 5,017 5,017 136 136 Income from charltsble actlvltles Unres- trlcted Res- trlcted 2024 Total Unres- trlcted Res- tricted 2023 Total Income from charitable actlvitles Transport Income Charges for Vehicle - SCC School Bus Driver Contract Slinky Contract Travel Club trips Exmoor School Routes Shopper 8us Bus Service Operators Grant 149,925 7,478 95,713 112,955 752 71,875 4,248 3,067 149,925 7,478 95,713 112,955 752 71,875 4.248 3,067 137,952 20,168 86,701 103,470 137,952 20,168 86,701 103,470 60.915 3,539 2,896 60,915 3,539 2,896 446,013 446,013 415,641 415,641 Produced by Albert Goodman LLP Page 12

Accessible Transport West Somerset Notes to the Financial Statements For the Year Ended 31 March 2024 Expendlture on charitabl8 activities Unres- tricted Res- trlcted 2024 Total Unres- tricted Res- trlcted 2023 Total DSrect costs Driv8r wages Driver admin costs Motor expenses Sub contracted drivers (Profit)l Loss on disposal of assets 173,998 5.383 65,154 51,378 (4,300) 173,998 5,383 65,154 51,378 (4,3001 129,169 3,948 60,697 40,034 129.169 3.948 60,697 40,034 Total direct costs 291,613 291,613 233,848 233,848 Support costs Adminlstratlve costs Wages Travel and subsistence Subscriptions Public liability & trustees insurance Advertising Office expenses Sundry expenses 97,851 261 8.961 2,162 787 8,713 2,731 97,851 261 8,961 2,162 787 8,713 2,731 74,176 175 9,078 1,926 1,804 8,176 2,151 74,176 175 9,078 1,926 1.804 8.176 2,151 121,466 121,466 97,486 97,486 Land, bulldlng and property costs Rent Rates Insurance Establishment costs Equipment hire & repairs 5,880 600 927 22,242 3,773 5,880 600 927 22,242 3,773 5,880 675 826 35,202 4,619 5,880 675 826 35.202 4,619 33,422 33,422 47,202 47.202 Legal costs Legal & professional fees Accountancy and bookkeeping 1,958 5,120 1,958 5.120 4,345 4,713 4,345 4,713 7,078 7,078 9,058 9,058 Total support costs 161,966 161,966 153,746 153,746 Total costs 453,579 453,579 387,594 387,594 Produced by Albert Goodman LLP Page 13

Accessible Transport West Somerset Notes to the Financial Statements For the Year Ended 31 March 2024 Trustee Expenses No trustees have received any remuneration. reimbursed expenses or any other benefits from the charity during the year (2023: none). Please see note 13 for related party transactions. Employee costs 2024 2023 Wages and salaries Social security costs Pension costs 263,846 10,015 2,988 194,694 6,297 2,353 276.849 203.345 The average monthly head count was 19 staff (2023.. 18 staff). No employee received remuneration of more than £60,000 in the period (2023: 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 £2,988 (2023: £2,353). Contributions of £579 were payable to the scheme at the end of the year (2023". £456). The key management personnel of the Gharity is considered to be the general manager. The total costs to the charity of employee benefits for the key management personnel were £34.509 {2023.' £14,218). Produced by Albert Goodman LLP Page 14

Accessible Transport West Somerset Notes to the Financial Statements For the Year Ended 31 March 2024 Tangible flxed assets Leasehold Furniture Land and and buildings equipment Motor Vehicles Offlce equlpment Total Cost At 1 April 2023 Additions Disposals 137,427 5.767 227.807 59,490 (30,306) 4,358 375.359 59,490 (30,306) At 31 March 2024 137,427 5,767 256,991 4,358 404,543 Depreciation At 1 April 2023 Charge for the year Eliminated on disposal 117,320 10,054 5,567 50 161,797 27.220 (28,606) 2,928 360 287,612 37,684 {28,606} At 31 March 2024 127,374 5,617 160,411 3.288 296,690 Net book value At 31 March 2024 10,053 150 96,580 1,070 107,853 At 31 March 2023 20,107 200 66,010 1,430 87.747 Debtors 2024 2023 Trade debtors Prepayments Other debtors 46,183 7,646 9,949 39,835 9,010 10,065 63.778 58,910 Produced by Albert Goodman LLP Page 15

Accessible Transport West Somerset Notes to the Financial Statements For the Year Ended 31 March 2024 10 Creditors: Amounts falling due within one year 2024 2023 Trade creditors Other creditors Accruals 7,067 16,798 7,342 9.513 14,535 7,148 31,207 31,196 11 Summary of movement In funds Openlng Balance 1 Apr 2023 Closlng Balance Transfers 31 Mar 2024 Income Expenditure Unrestrlcted funds General fund 270,376 458,272 (453,579) 275,069 Dèslgnated funds Designated funding reserve Land purchase fund Building maintenance fund Vehicle replacement fund 15,000 125,000 14,000 110,000 15.000 125,000 14,000 110,000 Total unrestrlcted funds 534,376 458,272 (453,579) 539,069 Total funds 534,376 458,272 (453,579) 539,069 Produced by Albert Goodman LLP Page 16

Accessible Transport West Somerset Notes to the Financial Statements For the Year Ended 31 March 2024 11 Summary of movement in funds - prior year Opening Balance 1 Apr 2022 Closing Balance Transfers 31 Mar 2023 Income Expenditure Unrestricted funds General fund 257,859 419,111 (387,594) (19,000) 270,376 Designated funds Designated funding reserve Land purchase fund Building maintenance fund Vehicle replacement fund 165,000 (150.000) 125,000 14,000 30.000 15,000 125,000 14.000 110,000 80,000 Total unr8strlct•d funds 502,859 419.111 (387,594) 534,376 Total funds 502,859 419,111 (387,594) 534,376 Thes ecific ur oses for which the funds are to be a lied are as follows: General funds repres&nl 'free' reserves after allowing for all designated funds. Designated Funding ReseNes 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. Produced by Albert Goodman LLP Page 17

Accessible Transport West Somerset Notes to the Financial Statements For the Year Ended 31 March 2024 12 Analysis of assets between funds 2024 Total funds Unrestricted funds Designated funds Restricted funds Tangible assets Current assets Current liabilities 107,852 198,424 (31,207) 107,853 462,423 (31,207) 264,000 275,069 264,000 539,069 Prior year 2023 Total funds Unrestrlcted funds Designated funds Restrlcted funds Tangible assets Current assets Current liabilities 87.747 213,825 (31,196) 87,747 477,825 (31,196) 264.000 270,376 264,000 534,376 13 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 and received remuneration of £1,980 (2023 - £1,980). 14 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 2024, the company had 6 members and the total amount guaranteed was therefore £6. Produced by Albert Goodman LLP Page 18