ThE COMMBUS PROJECT (Llmlted by Guarantsel ANNUAL REPORT YEAR ENDED 30 SEPTEMBER 2023 VNAUDITED THE COMMBUS PROJECT COMPANY INFORMATION Dirertors K Richardson J E Pickard Mrs J E Pi¢kard A O Curran M Ballard Secretary J E Pickard Company Number No. 05569fA)I Charlty Number 1117153 Re8lstered Office The Manse School Lane Narborou8h Leicestershlre LE19 2GS Accountants 8arrett & Co 13 Oak Road Littlethorpe Leicester LEI9 2HP Bankers Natwest Bank PLC PO Box 71 Granby Street Leicester LEI 9GT THE COMMBUS PROJECT DIRECTORS, REPORT YEAR ENDED 30 SEPTEMBER 2023 The Dlrectors submit thelr report and financlal staternents forthe year ended 30 September 2023. The Commbus Project l The Projert"l is a company by guarantee (number 055696011 and bs a registered Charity (number 11171531- The principal and registered office address is The Manse, School Lane, Narborough, Leite￿eTShire, LE19 2GS. The Charity's original governing constitution Is dated 12 March 1993. Incorporatlon The Project wa5 incorporated as a Ilmlted company, without share capital and limrted by guarantee on 21 September 2005 and the artNrtles and net assets of The Commbus Project We￿ transferred Into the company. These accounts relate to a fvll year to 30 September 2023. Strurturel zovemanceand rn•nwment The Prolert's tonstltutlon is set out In ft's Memorandum and Artlcles of Assoclation and provHles for the dlreciors of the company to be appolnted by members of the wmpany. The dlrectors a trustees for the purposes of the cha1￿Y regulatlon. Directors are elected to office at the Annual General Meetlng. All new dlrectors are Inducted to ensure that they understand their role and responslbllltles as d1￿ctorS. The dlrectors have examined the major strateBlc, business and operational rlsks whlch The Prolert faces and conflrm that systems have been establlshed to enable regular ￿pOrts to be produced so that the necessary steps can be taken to lessen these risks. Oblertl¥e and Advltles The princlp31 artivlty of The Prolect durlng the year was that of provldlng communtty transport facllities in Blaby District, Lelcestershlre, for individuals wlth specffic needs, such as disabled, sick and elderly, where there are no adequate publlc transport facilitles. Fln•ndal Re¥lew Durlng the perlod under review The Project recelved Income of £46.487 and generated inve5trnent income amountln8 to £2,913. The Project expended £20.442 and incurred depreciation of vehicles of £7,748 on the furtherance of rt's Charttable activf(ies. The Project's net assets 8t 30 September 2023 were £269,000 (including £12,145 restricted funds) compared to £247,790 at the stsrt of the year. Achlevements and Perforniance There have been no signfficant outcomes to be ￿pOrted. based on the level ol activlty durin8 the year. THE COMMBUS PROJEcr DIRECTORS, REPORT YEAR ENDED 30 SEPTEMBER 2023 Resems Pon¢v The dlrertots seek to generate sufflcient income to cover operatlng costs and to create reseryes to replace the community buses on a regular basrs. normalty targetted over five years. Dlrectors The dlrectors who served durlng the year were.. K Rlchardson J E Plckard Mrs J E Pickard A O Curran M Ballard Basls ol P¥epar#tlon The report of the dlrectors has been prepared In accordance wlth the 5peclal provlslons of Part Vll of the Companies Act 2006 relatlng to small companles. This report was approved by the Board on and 51gned on it'sbeha K Rlchardson Chabfman J E Plckard Secretary ACCOUNTANCI REPORTTO THE BOARD OF DIREcfoRS ON THE UNAUDITED ACCOUNTS OF THE COMMBUS PROJECT In order to asslst you to fuffill your duties underthe Companies Art 2(¥J6, we have compiled the financial statements for the company whlch tomprise the Statement of Financial Activities, the Balance Sheet and the related notes from the accountlng records and infomiatron and explanations you have Biven to us. This report Is made Sole￿ to the company's board of dlrectOTS. Our work has been undertaken so that we might complle the flnanclal statements that we have been engaged to compile, report to the company's board of directors that we have done $0 and state those matters that we are requlred to state to them by a reportlng accountant and for no other purpose. To the hjllest extent permitted by law,we do not accept or assume responsibillty to anyone other than the company and the company's board of directors as a body, for our work for this report. You have acknowled8ed on the balance sheet on page 5 your duty to ensure that the company has kept proper accounting records and to prepare financial ststements that give a true and fair vlew under the Companles Act 2(lJ6. The direttors consider that the company is exempt under the statutory requlrement for an audlt for the year. We have not been Instrurted to carry out an audh of the flnanclal statements. For thls reason, we h?ve not vertfled the accuracy or completeness of the accountin8 records or Informailon and explanatlons you have glven to U5 and we do noi therefore. express an oplnlon on the financlal statements. •rrett & Co Dat• THE COMMBUS PROJEcr STATEMENT OF FINANCIAL AcrivrriES (Inwrporatlng an Income and expendlture account) YEAR ENDED 30 SEPTEMBER 2023 2023 Unre5trlcted Funds INCOMING RESOURCES Investment Income: Bank Interest Incomln8 resources Irom ¢harltsble actlvltles: Dlal-a-rlde Bus hlre and trlps Braunstone Membership Fundraising Contributlon from LCC for Nnning costs Other Incomln8 resources., Donatlons 2,913 10,680 4,749 262 29,825 971 TOTAL INCOMING RESOURCES 49,400 RESOURCES EXPENDEO Charltable actlvltles: Vehlcle runnlng costs Insurance Telephone Postage and 5tatlonery Travel Sundrloa 9,599 3,480 721 394 735 3,3J3 7,748 Depreciatlon Profit on disposal Rent 2,1 TOTAL RESOURCES EXPENDED 28,1 NET INCOMING RESOURCES 21,210 FUND BALANCE BROUGHT FORWARD 247,790 FUND BALANCE CARRIED FRWARD 269,1K THE COMMBUS PROJEcr BALANCESHE AT 30 SEPTEMBER 2023 FIXED ASSErs Tangible fixed assets 78,423 CURRENT ASSETS Debtors / prepayments Bank reserve account Bank current account 3,196 183,680 3.942 190.818 CREDITORS Amounts fallln8 due wlthln one year: Accruals and deferred Income Grant 241 241 NET CURRENT ASSErs 190,577 NEfASSETS 269,C Represented bv.. Unresiricted funds Restricted funds 256,855 12,145 269,000 Audlt exernptlon st•tsment: For the year ended 30 September 2023 the company was entitled to exemptlon from audlt under Section 477 of The Companles Act 2C#)6 relatlng to sfflall companle5. Dlrector's respon51bllltles: The members have not required the companylo obtaln an audit of It's accounts for the year In question in accordance with Section 476. The directors acknowledge their responsibilities for comptyinB with the requlrements of the Act with respect to ac¢ountin8 records and the preparation ol accounts. These accounts have been prepared in accordance wtth the provi51ons appli￿ble to companies subject to the smaller companies regime. K Rlchardson Chairman J E Hd(ard Secretary THE COMMBUS PROJECT NOTES TO THE FINANaAL ACCOUNf5 YEAR ENDED 30 SEPTEMBER 2023 ACCOUNTING POLICIES Basls of preparatlon of Ilnandal statements The financial statements have been prepared under the historical cost convention and in accordance with the Charities SORP IFRS 1021- 2nd Edition. Incarnln8 resource5 All Income Is included In the Ststement of Financial Activities when receivable. Grdnts are recognised in fvll In the period In which receivable. Resources expended Expenditure Is recognised when a Ilabllbty Is Incurred and has been classlfled under headln8S that a8gre8ate all costs related to the category. Costs of Beneratlng fund5 are those incurred In attractlng incomlng for the provision of charitsble artivitie5. Charitable aCt￿ltIeS Include expenditure associated with the company's objectNes and include direct costs and support costs relatin8 to these activlties. Governance costs include those costs Incurred In the governance of the company which relate to the general runnin8 of the ompany. Depredatl¢)n Tangible fixed assets comprlslng buses are Cap￿a1}sed net of 8rants receivable for their purchase. The buses a￿ depreciated at a rate to reflect ¢helr r¢ttlltstk value. Other a33ets are dcprcclote*Y over five yeom. Fund att￿ntIng Restricted funds are defined as" funds subject t0 5peciAc condrtlons Imposed by the donor and blnding on the company". They represent unspent Income to which restrictions as to their use apply. Unrestricted funds are those funds generated without specific purpose whKh the company is free lo use in accordance with it's objertive5. THE COMMBUS PROJEcr NOTES TO THE FINANCIAL AccouKrs YEAR ENDED 30 SEPTEMBER 2013 CONSTITUTION The companyls formed with a liabilty limited by guarantee wlth no Sha￿ capital. Clause 8 of the Memorandum of Association provides that every member, as defined by Clause 2 of the Articles of A550ciatlon. Is liable to contribute a sum not exceeding one pound In the event of the company belng wound up while they are a member or within one year of ceasin8 to be a member. DIRECTOR'S EMOLUMENTSAND BENEFITS Dlrector's expenses totsllln8 £770 were relmbursed by the company durln8 the year. TANGIBLE FIXED ASSETS Equlpment Buses Totsl Cost At l October 2022 Additions Disposals 111,263 60,7 111,263 61,853 1,153 At 30 September 2023 1,153 171,963 173,116 Depreclatlon At l October 2022 Charge for perlod net of grant DIsp05als 86,945 7,655 86,945 7,748 93 At 30 September 2023 93 94,6 94,693 Plet book amount At 30 September 2023 77,363 78,423 At 30 September 2022 24,318 24,318 ULTIMATE CONTROLUNG PARTY In the opinion of the dlrertors. given the structure of the company, there i5 no ultimate controlling party.