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
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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
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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.
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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
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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.
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**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: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charities SORP; 

- make judgments and accounting estimates that are reasonable and prudent; 

- state whether applicable UK Accounting Standards have been followed, sub[j] ect to any material departures disclosed and explained in the financial statements, and 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the 

- charitable company will continue in business. 

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 

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Page 5 



**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 

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


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


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 

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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.
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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.
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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
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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
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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
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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).
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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
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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
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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.
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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.
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Page 18