THE COMMBUS PROJECT
(Limited by Guarantee)
ANNUAL REPORT
YEAR ENDED 30 SEPTEMBER 2022
UNAUDITED
THE COMMBUS PROJECT
COMPANY INFORMATION
| Directors | K Richardson |
|---|---|
| J E Pickard | |
| Mrs J E Pickard | |
| A O Curran | |
| M Ballard | |
| Secretary | J E Pickard |
| Company Number | No. 05569601 |
| Charity Number | 1117153 |
| Registered Ofce | The Manse |
| School Lane | |
| Narborough | |
| Leicestershire | |
| LE19 2GS | |
| Accountants | Thorpefelds Accountants Limited |
| 70 Commercial Square | |
| Freemans Common | |
| Leicester | |
| LE2 7SR | |
| Bankers | NatWest Bank PLC |
| PO Box 71 | |
| Granby Street | |
| Leicester | |
| LE1 9GT |
THE COMMBUS PROJECT DIRECTORS' REPORT YEAR ENDED 30 SEPTEMBER 2022
The Directors submit their report and financial statements for the year ended 30 September The Commbus Project ("The Project") is a company by guarantee (number 05569601) and is registered Charity (number 1117153). The principal and registered office address is The Man School Lane, Narborough, Leicestershire, LE19 2GS. The Charity's original governing constit is dated 12 March 1993.
Incorporation
The Project was incorporated as a limited company, without share capital and limited by guarantee on 21 September 2005 and the activities and net assets of The Commbus Project were transferred into the company. These accounts relate to a full year to 30 September 20
Structure, governanceand management
The Project's constitution is set out in it's Memorandum and Articles of Association and prov for the directors of the company to be appointed by members of the company. The directors trustees for the purposes of the charity regulation.
Directors are elected to office at the Annual General Meeting. The meeting is open to all res of the area served by the community buses and is widely publicised as such within the com All new directors are inducted to ensure that they understand their role and responsibilities directors.
The directors have examined the major strategic, business and operational risks which The faces and confirm that systems have been established to enable regular reports to be produ so that the necessary steps can be taken to lessen these risks.
Objective and Activities
The principal activity of The Project during the year was that of providing community transp facilities in Narborough, Leicestershire and it's surrounding villages for individuals with spec needs, such as disabled, sick and elderly, where there are no adequate public transport faci
Financial Review
During the period under review The Project received income of £51,682 and generated inve income amounting to £1,463. The Project expended £17,848 and incurred depreciation of ve of £8,634 on the furtherance of it's charitable activities. The Project's net assets at 30 Septe 2022 were £247,790 compared to £221,127 at the start of the year.
Achievements and Performance
There have been no significant outcomes to be reported, based on the level of activity durin the year.
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THE COMMBUS PROJECT DIRECTORS' REPORT YEAR ENDED 30 SEPTEMBER 2022
Reserves Policy
The directors seek to generate sufficient income to cover operating costs and to create rese to replace the community buses on a regular basis, normally targetted over five years.
Directors
The directors who served during the year were:
K Richardson J E Pickared Mrs J E Pickard A O Curran M Ballard
Basis of Preparation
The report of the directors has been prepared in accordance with the special provisions of P of the Companies Act 2006 relating to small companies.
This report was approved by the Board on
and signed on it'sbehalf
K Richardson
Chairman
J E Pickard
Secretary
2 ACCOUNTANCY REPORT TO THE BOARD OF DIRECTORS ON THE UNAUDITED ACCOUNTS OF THE COMMBUS PROJECT
In order to assist you to fulfill your duties under the Companies Act 2006, we have compiled financial statements for the company which comprise the Statement of Financial Activities, t Balance Sheet and the related notes from the accounting records and information and expla you have given to us.
This report is made solely to the company's board of directors. Our work has been undertak that we might compile the financial statements that we have been engaged to compile, rep the company's board of directors that we have done so and state those matters that we are required to state to them by a reporting accountant and for no other purpose. To the fullest permitted by law,we do not accept or assume responsibility to anyone other than the compa and the company's board of directors as a body, for our work for this report.
You have acknowledged on the balance sheet on page 5 your duty to ensure that the compa has kept proper accounting records and to prepare financial ststements that give a true and view under the Companies Act 2006. The directors consider that the company is exempt un statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reaso we have not verified the accuracy or completeness of the accounting records or information explanations you have given to us and we do not therefore, express an opinion on the finan statements.
Thorpefields Accountants Limited
Date
3 THE COMMBUS PROJECT STATEMENT OF FINANCIAL ACTIVITIES (Incorporating an income and expenditure account) YEAR ENDED 30 SEPTEMBER 2022
| 2022 | |
|---|---|
| Unrestricted | |
| Funds | |
| INCOMING RESOURCES | £ |
| Investment income: | |
| Bank interest | 1,463 |
| Incoming resources from | |
| charitable activities: | |
| Dial-a-ride | 8,809 |
| Bus hire and trips | 3,350 |
| Braunstone | 8,654 |
| Membership | 40 |
| Fundraising | 370 |
| Contribution from LCC for running costs | 29,843 |
| Other incoming resources: | |
| Donations | 616 |
| TOTAL INCOMING RESOURCES | 53,145 |
| RESOURCES EXPENDED | |
| Charitable activities: | |
| Vehicle running costs | 8,886 |
| Insurance | 2,943 |
| Telephone expenses | 672 |
| Postage and stationery | 556 |
| Travel | 463 |
| Sundries | 2,528 |
| Depreciation | 8,634 |
| Proft on disposal | - |
| Rent TOTAL RESOURCES EXPENDED NET INCOMING RESOURCES FUND BALANCE BROUGHT FORWARD FUND BALANCE CARRIED FRWARD 4 THE COMMBUS PROJECT BALANCE SHEET AT 30 SEPTEMBER 2022 FIXED ASSETS £ Tangible fxed assets CURRENT ASSETS Debtors / prepayments 3,415 Bank reserve account 212,199 Bank current account 7,858 223,472 CREDITORS Amounts falling due within one year: Accruals and deferred income - Grant - - NET CURRENT ASSETS NET ASSETS Represented by: Unrestricted funds |
Rent TOTAL RESOURCES EXPENDED NET INCOMING RESOURCES FUND BALANCE BROUGHT FORWARD FUND BALANCE CARRIED FRWARD 4 THE COMMBUS PROJECT BALANCE SHEET AT 30 SEPTEMBER 2022 FIXED ASSETS £ Tangible fxed assets CURRENT ASSETS Debtors / prepayments 3,415 Bank reserve account 212,199 Bank current account 7,858 223,472 CREDITORS Amounts falling due within one year: Accruals and deferred income - Grant - - NET CURRENT ASSETS NET ASSETS Represented by: Unrestricted funds |
1,800 | £ 24,318 223,472 |
|---|---|---|---|
| 26,482 26,663 221,127 |
|||
| 247,790 | |||
| 223,472 - - |
|||
| - | |||
| 247,790 | |||
| 247,790 | |||
| 247,790 |
Audit exemption statement:
For the year ended 30 September 2022 the company was entitled to exemption from audit u Section 477 of The Companies Act 2006 relating to small companies.
Director's responsibilities:
The members have not required the company to obtain an audit of it's accounts for the yea question in accordance with Section 476.
The directors acknowledge their responsibilities for complying with the requirements of the with respect to accounting records and the preparation of accounts. These accounts have be prepared in accordance with the provisions applicable to companies subject to the smaller companies regime.
K Richardson
Chairman
5
J E Pickard Secretary
THE COMMBUS PROJECT NOTES TO THE FINANCIAL ACCOUNTS YEAR ENDED 30 SEPTEMBER 2022
1 ACCOUNTING POLICIES
1.1 Basis of preparation of financial statements
- The financial statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice Accounting and Reporting by Charities (SORP 2005) issued in March 2005 and the Financial Reporting Standard for Smaller Entities.
1.2 Incoming resources
- All income is included in the Statement of Financial Activities when receivable. Grants are recognised in full in the period in which receiva
1.3 Resources expended
-
Expenditure is recognised when a liability is incurred and has been cla under headings that aggregate all costs related to the category.
-
. Costs of generating funds are those incurred in attracting incoming for the provision of charitable activities.
-
. Charitable activities include expenditure associated with th company's objectives and include direct costs and support relating to these activities.
-
. Governance costs include those costs incurred in the gover of the company which relate to the general running of the company.
1.4 Depreciation
Tangible fixed assets comprising buses are capitalised net of grants receivable for their purchase. The buses are depreciated at a rate to re their realistic value. Other assets are depreciated over five years.
1.5 Fund accounting
Restricted funds are defined as " funds subject to specific conditions imposed by the donor and binding on the company". They represent u income to which restrictions as to their use apply. The company has no restricted funds. Unrestricted funds are those funds generated without specific purpose which the company is free to use in accordance with objectives.
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THE COMMBUS PROJECT NOTES TO THE FINANCIAL ACCOUNTS YEAR ENDED 30 SEPTEMBER 2022
2 CONSTITUTION
The companyis formed with a liability limited by guarantee with no share capital. Clause 8 of the Memorandum of Association provides that every member, as defi by Clause 2 of the Articles of Association, is liable to contribute a sum not exceed one pound in the event of the company being wound up while they are a membe within one year of ceasing to be a member.
3 DIRECTOR'S EMOLUMENTS AND BENEFITS
None of the directors received remuneration or any reimbursed expenses from th company.
4 TANGIBLE FIXED ASSETS
| Cost At 1 October 2021 Additions Disposals At 30 September 2022 Depreciation At 1 October 2021 Charge for period net of grant |
Equipment Buses £ £ 111,263 |
|---|---|
| 111,263 | |
| 78,311 8,634 |
Disposals
| At 30 September 2022 Net book amount At 30 September 2022 At 30 September 2021 |
86,945 |
|---|---|
| 24,318 | |
| 32,952 |
5
ULTIMATE CONTROLLING PARTY
In the opinion of the directors, given the structure of the company, there is no ult controlling party.
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Total £ 111,263 111,263
78,311 8,634
86,945 24,318 32,952 limate