Charlty registratlon number 1117153 Company reglstratlon numbèr OS5696011England and Walès) THE COMMBUS PROJECT ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
THE COMMBUS PROJECT LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr S K Taylor Mr K M Richardson Mr J E Pickard Mrs J E Pickard MrA O Curran Mr M Ballard Secretary Mr S K Taylor Charlty number 1117153 Company number 05569601 Reg18tered office The Manse School Lane Narborough Leicester LE19 2GS Independent examlner Philip John Oymond FCCA Cheyettes Ltd 167 London Road Leicester LE2 1EG
THE COMMBUS PROJECT CONTENTS Page Trustees, report Independent examiner's report Statement of financial activities Balance sheet Notes to the financial statements 6-13
THE COMMBUS PROJECT TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2024 The trustees present their annual report and financial statements for the year ended 30 September 2024. The finanrjal statements have been prepared in accordance with the accounting policies set out in note 1 lo the financial statements and comply with the charitable company's Memorandum and Articles of Association. the Companies Act 2006 and "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 1021" (effective 1 January 2019). Objectlvos and actlvitles The principal obiect of the charitsble company was that of providing Community Transport facilities in the Blaby District of Leiceslershire. The charitable company operates a dial a ride service Mondays to Fridays picking up members from their home address to lake them to shopping cenlres, garden centres and popular locations in the Blaby di3trict and beyond. We have 3 minibuses all equipped with a powered tail lift, specialised equipment for seouring wheelchair3 and small scooters and additional handrails to assist passenger$ on and off the vehicle. All drivers are MIDAS trained (Minibus Driver Awareness Scheme administered by the Community Transport Association of which the Charity 18 a member) and each bus travels wilh an escort to a551St passengers. We also offer a private hire seNice to community groups and residential homes with a mobility need to transport them to a place of their cholce. Public benefit The trustees have paid due regard to guidance issued by the Charity Commission in deciding what a¢tivitie8 the charitable company should undertake. Volunte8rs Everyone that works for the chanty 1$ a volunteer which includes drivers, escorts, office team. out of hour8 message lakers and Irusleesldirectors. The contribution they make in not only working for the chanty but also promoting its activilies is invaluable. Achlevements and performance Significant 8Ctivities and 8chi8V8menls against objeGtives The charity saw a slight increase in new members for the year tolalling 100190 in Ihe year ended 2023). Number of passengers carrsed also increased to 2,890 up from 2.622 the previous year. We differ from olher forms of public transport by collecting members from their horne address, taking them to their deslination and retuming them to their home. In all cases volunteers will offer to assist members wth taking their shopping into their homes. In most cases members are not able to get to a bus stop nor do they have the ability to carry their own shopping. Without the service we provide many would not be able to easily get out of their homes to not only do their shopping but also socialise wlh others. In all cases it helps people maintain a sense of independence. Financial review The financial statements show an overall level of reserves at the end of the year which the trustees consider to be sound. The Statement of Financial Activities demonstrates overall nel income of £25,921 {2023 - £21 .209) and at the end of the year general reserves amounted to £285,053 12023 £256,854) and restricted reserves were £9,868 12023 £12.146).
THE COMMBUS PROJECT TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 ReseThes policy The trustees have established a level of reserves designed to provide suffiaent resources for the charity to continue in operation for the foreseeable fijture. The policy requires a regular ongoing review of the reserves that are available and those which are required to fund future operations and mitigate any adverse conditions that may arise. Structure, govemance and management The charitable company is a company limited by guarantee govemed by Memorandum and Articles of Association dated 21 sl September 2005. The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were.. Mr S K Taylor Mr K M Richardson Mr J E Pickard Mrs J E Pickard MrA O Curran Mr M 8allard R&cruitm8nl and appoii)Iment of tmsle6s Trustees are appointed by other members of the Board. None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up. Organisation81 slnjclurg The charitable company has a management committee which meets quarterty. Members are the trustee directors, Office Representative, Drivers Ropresonlative, Drivors Trainer, E6¢0rt$ R•pro$•ntative, Escort Trainer and Publicity & Promotions Officer. Thi5 Report has been prepared having taken advantage ol the small companies exemption in the Companies Act 2006. The trus es, re wasa y the Board of Trustees. II'L Richardson Mr S K Taylor Company Secretary Trustee 27 January 2025
THE COMMBUS PROJECT INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE COMMBUS PROJECT I report to the Irustees on my examination of the financial statements of The Commbus Project (the charitable ompanyl for the year ended 30 Seplember 2024. Responsibllltles and basls of report As the trustees of the charitable company land also its difectors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements ol the Companies Act 2006 (the 2006 Act). Having salisfied myself that the financial statements of the ¢haritable company are not required to be audited under Part 16 of the 2006 Act and are eligible for independenl examination, I report in respect of my examination of the charitable company's financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In Carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145151{b) of the 2011 Act. Independent examlngr's statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe Ihat in any material respect.. accounting records were not kept in respect of the chantable company as required by section 386 of the 2006 Act., or the financial slalements do not accord with those records., or the financial statements do nol comply with the accountin9 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 the financial statements have not been prepared In accordance with the methods and princtples 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 1021. 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 financial statements to be reached. Phillp John Dymond FCCA Cheyettes Ltd 167 London Road Leicegter LE21EG
THE COMMBUS PROJECT STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2024 Unrgstrlcted Restricted funds funds 2024 2024 Total Unrestricted Restricted fund8 funds 2023 2023 Total 2024 2023 Notes Income and endowments from: Donations and legacies Charitable activities Investments Other in¢ome 2,726 15,674 4,714 11,031 2,726 45,499 4.714 11,031 971 15,691 2,913 971 45,516 2,913 29,825 29,825 Total Incomo 34,145 29.825 63,970 19,575 29,825 49,400 Expendlturo on: Charitsble activities 5.946 32.103 38,049 3,157 25,034 28.191 Total expendlture 5,946 32,103 38,049 3,157 25,034 28,191 Net Incomellexpendlturol and movement In fund• 28,199 {2,278) 25,921 16,418 4,791 21,209 Reconclllatlon of fund8: Fund balances at 1 October 2023 256,854 12,148 269,000 240,436 7,355 247,791 Fund balances at 30 September 2024 285,053 9,868 294,921 256,854 12,146 269,000 The statement of financial activities indudes all gain$ and losses recognised in the year. All income and expenditure derive from continuing activities.
THE COMMBUS PROJECT BALANCE SHEET AS AT 30 SEPTEMBER 2024 2024 2023 Not08 Fixed afjsats Tangible assets 12 61,747 78,424 Curnnt as80ts Debtors Cash at bank and in hand 13 3,269 232,142 3.196 187,621 235,411 190,817 Credltor8: amounts falllng due withln one year 14 {2,237) {2411 Not current a88ets 233,174 190,576 Total assets less current Ilabllltle$ 294,921 289.000 The funds of th6 charftablo company Restncled income funds Unrestricted funds 15 16 9,888 285,053 12.146 256,854 294.921 269,000 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for Ihe year ended 30 September 2024. The directors acknowledge their responsibilitie5 for Complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The fin ncial st Isw roved by the Iruslees on 27 January 2025 Mr K M Richardson Trustee Company registration number 05569601 (England and Wale81
THE COMMBUS PROJECT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Accountlng pollcies Chartty Informatlon The Commbus Project is a private company limited by guarantee incorporated in England and Wales. The registered office 15 The Manse, School Lane, Narborough, Leicester, LE19 2GS. 1.1 Accountlng conventlon The financial statements have been prepared in accordance Vth the charitable company's Igoverning documentl. the Companies Act 2006, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. I'FRS 102.) and the Charities SORP Accounting and Reporting by Charities. Slalemenl of Recommended Practice applicable to charities preparing their accounts in accordance with the Finanoal Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)" leffective 1 January 20191. The Charitable company is a Public Benefit Entity as defined by FRS 102. The chantable company has taken advantage of the provisions in the SORP for charities not to prepare Statement of Cash Flows. The financial statements are prepered in gterling, which is the functional currency of the charitable company. Monetary amounts in these finanrjal statements are rounded to the nearest £. The financial statements have been prepared under the histon¢al c08t Convention. The prinapal aOUntIng policies adopted are set out below. 1.2 Golng concem At the time of approving the financial statements, the trustees have a reasonable expectation that Ihe Charitable company has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial slalements. 1.3 Charltablo funds Unrestricted funds are available for use at the discretion ol the trustees in furtherance of their chantable objeclives. Restricted fundy are subject lo specific conditions by donors or grantor5 as to how they may be used. The purposes and uses of the restricted fijnds are set out in the notes to the financial statements. Endowmenl fijnds are subject to speafic conditions by donors that the Capital must be maintained by the diaritable company. 1.4 Income Income is recognised when the charitable company is legally entitled to it after any perfomiance conditions have been met, the amounts ¢an be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charitable company has been notified of the donation, unless performance conditions Tequire deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charitable company has been notified of an impending distribution, the amount is known, and receipt 15 expected. If the amount is not known, the legacy is treated as a contingent asset.
THE COMMBUS PROJECT NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Accounting policies {Contlnued) 1.5 Expenditure Expenditure is recognised once there Is a legal or ¢on$tructive obligation to transfer economic benefft to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is dassified by activity. The cosls of each activity are made up of the total of direct costs and shared costs, induding yupport cost$ involved in undertaking each activity. Direct cosls attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activily are apportioned betsveen those aGtivilies on a basis consistent wilh the use of resources. Central staff costs are allocated on the basis of time spent. and depreciation charges are allocated on the portion of the as$et'8 u$e. 1.6 Tangible flxed assgts Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impaimient losses. Depreciation is recognised $0 as to write off the cost or valualion of assets less their residual values over their useful lives on the following bases.. Computers Molor vehicles 2% per month on a straight line ba515 2.5% per month on a reducing balance basis The gain or los$ arising on the disposal of an asset is detemined as the difference between the sale proceeds and the Carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Impairnient of flxod assots At each reporting end date, the chantable company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impaimient loss. If any such indication exists, the recoverable amount of the asset 1$ estimated in order to detemiine the extent of the impairment loss lif any). 1.8 Cash and cash equivalonts Cash and cash equivalents indude cash in hand, deposits held al call with banks. other short-term liquid investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown wtthin borrowings in current liabilities. 1.9 Flnanclal Instrumonts The charitable company has elected to apply the provi$ion$ of Section 11 'Basic Financial Instruments, and Section 12 '01her Financial Instruments Issues. of FRS 102 to all of its finanrjal instruments. Financial instruments are recognised in the charitable company's balance sheet when the charitable company becomes paty to the contractual provisions of the instrument. Financial assets and liabilities are offsel, with the net amounts presented in the financial statement5. when there is a legally enforceable right tc set off thè recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Baslc financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Finanual assets dassified as receivable within one year are not amortised.
THE COMMBUS PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Accounting policies (Continued) Baslc flnancial liabllltles Basic financial liabilities. including creditors and bank loans are initially recognised at transaction price unless the arrangemenl con5tltutes a flnancing transaction. where the debt instrument is measured al the present value of the future payments discounted at a market rate of interest. Finanrjal liabilities classified as payable thin one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services thal have been acquired in Ihe ordinary course of operations from suppliers. Amounts payable are dassified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recogni5ed initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognltlon of flnanclal Ilabllltles Financial liabilities are derecognised when the charitable company s contractual obligatsons expire or are discharged or cancelled. 1.10 Employeg benèfits The cost of any unused holiday entitlement 1$ recognised in the period in vthich the employee's services are received. Temination benefits are recognised immediately as an expense when the charitable company 18 demonstrably committed to terminate the employment of an employee or to provide termination benefits. Crltlcal accountlng 08tlmat88 and ludgemonts In the application of the charitable company's accounting policies. the trustees are required to make judgements, estimates and assumption5 about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimales and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and undedying assumptions are reviewed on an ongoing basis. Revisions to accounting estimales are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of Ihe revision and future periods where the revision affecls both current and future penods. Incomè from donatlons and legacles Unrestricted Unrestrlcted funds funds 2024 2023 Donations and gifts Grants 1,349 1,377 971 2,726 971
THE COMMBUS PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Income from Charltable activities Unrestrlcted Restrl¢ted funds funds 2024 2024 Total Unrestricted Restrlcted funds funds 2023 2023 Total 2024 2023 Communlty transport Services provided under contract Performance related grants Other income 15,481 15,481 15,429 15,429 29.825 29,825 193 29,825 29,825 262 193 282 15,674 29,825 45,499 15,691 29,825 45,516 Perfomance relatod grants analys18 Communlty Communlty transport transport 2024 2023 Leicestershire County Council CPT grant Other 29,825 29.825 Income from Investments Unrestricted Unrestricted funds funds 2024 2023 Interest receivable 4.714 2,913 Other Income Unrestrlcted Unrestrlcted funds funds 2024 2023 Nel gain on disposal of tangible fixed assets 11,031
THE COMMBUS PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Expenditure on charitable activities Communlty Communlty transport transport 2024 2023 Dlroct costs Depreaation and impaimient Vehicle running co$t$ Rent Insurance Travel expense5 Postage and stationery Telephone Independenl examiner's fees Sundry expenses 17,527 12,496 2,650 329 626 556 642 800 2,423 7.748 12.284 2.160 796 735 394 721 3,353 38,049 28,191 Analysis by fund Unrestricted funds Restricted funds 5,946 32.103 3,157 25,034 38,049 28.191 Net movement In funds 2024 2023 The net movement in funds is stated after chargingl{creditingl'. Depreciation of owned tangible fixed assets Profit on disposal of tangible fixed assets 17,527 111.031) 7,748 Trustees None of the trustees lor any persons connected with them) received any remuneration or benefits from the charitable company during the year. One trustee was reimbursed expenses in the sum of £528 for telephone, travel and vehide costs incurred. 10 Employees The average monthly number of employees during the year was.. 2024 Number 2023 Number Total There were no employees whose annual remuneration was more than £60,000. 10-
THE COMMBUS PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 11 Taxation The charity is exempt from taxation on its activities because all it$ income is applied for charitable purposes. 12 Tang5ble fixed asset• Comput•r• Motor vehlcl•• ToL•l Cost At 1 October 2023 Additions Disposals 1,153 171,962 6,850 157,625) 173.115 6,850 (57,625) At 30 September 2024 1,153 121,187 122,340 Deprèclatlon and Smpalrmont At 1 October 2023 Depreciation charged in the year Eliminated in respect of disposals 92 277 94,599 17,250 (51,625) 94,691 17,527 151 ,625) At 30 September 2024 369 60,224 80.593 Carrylng amount At 30 September 2024 784 60,963 81,747 At 30 September 2023 1,061 77,363 78,424 13 Debtorn 2024 2023 Amounts falllng duo withln ono year: Trade debtors Other debtors Prepayments and accrued income 288 433 2,550 389 111 2,696 3,269 3,196 14 Creditors: amounts falllng due wlthln one year 2024 2023 Trade creditors Accruals and deferred income 297 1,940 241 2,237 241 11
THE COMMBUS PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 15 R•strl¢tod fund The restrided funds of the charity comprise the unexpended balances of donalions and grants held on trust subject to specific conditions by donors as lo how they may be u$e¢J. At 1 October 2023 Incoming re8ource8 Resource8 expended At30 Septsmbèr 2024 Leicestershire County Council CPT grant 12,146 29,825 (32,103) 9,888 Provious year: At 1 October 2022 Incoming re•ourcè• Resources expended At30 Septèmber 2023 Leice8ter8hlre County Council CPT grant 7,355 29,825 (25,0341 12,146 This fund 18 to be used to provide minibus trips for.. individual members of the public with mobility problems who are unable to use local bus services (Including frail, elderly and physically disabled people, as well as those with less obvious disabililiesl.. rurally isolated people who do not have any transport of their ovm. 16 Unrostrlcted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At 1 Octob8r 2023 Incomlng resources Rosourcos At30 expended September 2024 General funds 258,854 34,145 (5,946) 285,053 Previous year: At 1 October 2022 Incomlng resources Resources expended At30 Sepiember 2023 General funds 240,436 19,575 (3,157) 256,854 12-
THE COMMBUS PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 17 Analysis of net assets between funds Unrestricted fund8 2024 Restricted funds 2024 Total 2024 At 30 September 2024: Tangible assets Current assetsllliabilitie8) 61,747 223,306 81,747 233.174 9,868 285,053 9.868 294.921 UnrestrFcted fund$ 2023 Restrlcted funds 2023 Totsl 2023 At 30 Septèmber 2023: Tangible assets Current assetsl{liabililies) 78,424 178,430 78,424 190,576 12,146 256,854 12,146 269,000 18 Operatlng lea8e commltments Al the reporting end date the charitable company had outstanding commitments for future minimum lease payments under non-cancellable operating leases. which fall due as follows.. 2024 2023 Wthin one year 703 540 19 Related party tran8actlons There were no d15closable related party transactions during the year12023 - none). 13-