Ccfrimpanv reL1151falion nunibtr.. 064ill?4 North Wealden Community Transport Partnership Ltd (A coii?PLillV Ibllllltd bv .uaraiiiee) ror ih¢ Y¥ar Ende(l_"?a Ni)venib¢r ?O?- *ND92rtX8rw A19 CCWPANIES HOUSE
Reference and Administrative DetaiL8 Trustees David Graham rirnothy DenninB Sparrow Anthjny Allen GeoffTey Willingale Crdwfoftl Linda Graharn Michael Stanning Tollit David W3tson PriDcipal Offiee Suitr IA The ByTe Upper Hartfield E4st Suss¢x TN74AR Company Regi$tratioD Number iYA38248 Charity Registration I¥4ber 1126?92 ImdepeDdent Examiner JThMthan Lyt)n MA FCA P8ge I
Strategte Report for the Year Ended 30 November 2023 Aijns #nd Purposes North Wealden Commwiity Trnn5lXJrt Partrrship LKmitsl arms to pmide afftrdable ond acctssible public transport to local residents in North Wealden and the sLFrmuttB a. Objectivu And Attiviti¢s The object of the charity is to provide ¢munity transport 5eMce5 for the public benefit in rural ar¢a5 for pe¢)ple WI arc vulncrnble or disadvantaged bErau5e of age. 5Lckne4 disability (mental or physicAiI. poverty, or becaLLse of a lack of availability of adequate approprtat¢ publi¢ passenger servic¢s. thereby helptn8 them to combat Social isolation and incre personal Itnden¢ The Company seeks to offer a range of community tran5FKIrt services within North Wealden and 115 environs: this may include parts of East w)d West Sussex and N¢xth West KeTJt to enable service ¢ontinuity. Athievemthts ad PerforrnaDce During the tt¥elve months to the end of NOveMr 2023 the Company continued io do its best to achieve its stsied obje¢tives and to provide ¢ommunity $llPPOrt to vulnernble people in the lo1 ¢ommunity. Pawn8er nthmbers tystng th¢ t( th)or.ttrdoor shoppin8 service for eldeAy and disabled people a[ those witknut access lo public tran5POrt continued to gTOW. while a few regular passeng5 Still unable to go out b¢n¢fit¢d from a perso1 shopping swviEE gr¢)rui¢5 delivwrd their hom¢s. The Company reapplied to Eam Suwx Cwnty Cowi¢il to renew trir contract to operat¢ three timetsbled ra1 bus routs5 and were awarded the contrRa ai an incxe&al rate. The leS eominued to be wtll ed. The company was also able to offer to swinunvJ8 Sessi for a primary sthool. and for gro rrquiring transport for r4)mmunity trip5. Th¢ number of volunteers drrving during the yw w&5 I l aThJ thert 6 paid employee& includin8 4 part-time paid drivers for the contract rt and pArt4ime Operati Offjce Mana8eTS. Seven unpaid Tru5tcts ovetsaw govemance and met four time5 thjring the year. Two fvrther voluntem h¢lped with fijnd raisirtg artd offi¢e idministratioii. Ats pur¢h&sal in the ¢outse of the year thrtt new electfonic ticketin8 machines artd a deposit on ¥ new vehicle whicb is on order. Services were operated on a full-COSt-rec•very, wofii basis using volunteer4rtven accessible mtrtilx on¢ of which Wds donated through a Governrnert 5chcm¢ in 2016. and IrE fvnd¢d by chargin8 afyordable fares. by dortations, by colltributiONS fr(¥ry paTish council& and by a three-year Service Level Agreement Grant frorn We31d Di51ri¢t CourKil in an amount of £5,51 per annum. paid guarteily on $ubmission of a monitorin8 Pa8e 2
Strategic Report for the Ye*r Ended 30 November 2023 In sumrn8ry. the Compony W35 able use its r¢swr¢ts ts contijwe w pEowide community Ir2nsporE service5 for the ben¢fit of the public. particularly those unable Ie rtgular bLLS Wvites and older people living alone or in shtltered housing in North W¢alden durin8 2023. The fangible ljeoefits frotn the Company's activitits in this pted(xninantly ntr81 area are". relief of loneline4 helping rKople to live ind¢pEndent lives by providing dwr.lfydjr shop5: also wo¥iding opwtwities for volunwrin8 and employmenL The trustee5 WIK> diTe¢tO of the ¢omF¢ny for the PUWF4)5e5 of ¢ompry law present their strat¢gi¢ repon for the year ended 30 November 2023 in compliance with sedion 414C of the Companie5 Act 2006. 2510712024.and siwwd OD its behalf by approved by the mwees of the clwity Ott ... Thes ic report Graha Ttee
Independent Examiner's Report to the trnstees of North WealdeD Community TranSrt P4rt¥Jership Ltd I report on the acc(xts of the forthe ye8r ¢rrfJed 30 November 2023 which are set out on pa8e5 7 to 18. Respective re5pollsibiiitie5 of trustee5 aDd e]lIer Th¢ truste¢s (who aff also the directors of the company for the purwse5 of company law) are responsible for the preparation of the accounts. The trustees consider an audit is not rEquired foT this Y undet section 144(2) of the Chartties Aci 2011 (the 2011 Act) and that an indepEnd¢nt ¢xaminion is nreded. Having satisfid rnlf that the chaTiry 15 n( Subj to audit under company 18w and is eli8ible for indepcndcnt ¢xamirWts0 It 1$ rcsporfibility to: examine the o¢¢ounts Under s¢¢tion 145 of the 2011 Act. follow th¢ pledre$ laid in the 8efter81 Direction5 given by the (Tharity Commission under s¢¢ti 145{5)(b) of the 2011 Act: aod B8S15 of iDdepeDdeDt examintvs pOrt My examioaiion was ¢arried out in acrdate with the germl Direoion5 wven by thr ChaTity C0mmrss5. An examination includes a revittv of the accounting records kept by the charity and a eomparisort of the accourts preserÈted with those recor& It also include5 wnstd¢rntion of Jny unusual Items or disclosures in the arcounts, and 5¢¢king uplanation5 from you as trustees concemjns any such matter5. The prc<edures urtdertsk¢n do not provide all the eYidett£e that wotsld be required in an audit and consequently no opinion is given as to whether ihe accounts prtscnt a 'tFue and fair view. and th¢ is limiied to those mattus set ou( in the statement bclow. l•dependeAt ex¥miAerfs ststtment In connection with my exarn1natir4 no Matter ha5 comt to my 8tteDtiott: (l) which gsv¢5 me rwor4bl¢ rau5e to i*li¢v¢ that in any Materi respect the fquirements.. ' th keep ac¢ouniing Tecord$ Tn ¥cordance i¥ith sethion 386 of the CornpHnie5 Act 2006: and . ¢0 pr¢par¢ a¢wut)ts which accord with the accounting records. cornply with th¢ acrountiDg requir¢ÈMts of secti¢)rt 396 of the C¢Jmpanie5 Act 2006 aDd with the mttlwA% aod principle5 of the Statcment of [lmmEnded Pradit¢: aT¥J Reportirt8 by Chèrities have rtot been met: or (2) to which, in my opinioft. atteniicffl Shou be drawi in (Yder to tnable a pn)pcr understsnding of the accounts to be reached. na n Lynn 25 July 2024
St2temeDt ol Trustees. ReSpoDs1bitles The truwes also the dirtrtU5 of North Wealden C(¥nmunity TrdfLSPOrt Parhip Ltd for the purtx)ses of company laiv) are Tesn51b1e for w¢paring ¢h¢ finan¢ial statements in acclYd with the Unit¢d Kin8dom Accountsn8 Swidards (United Kingth)m Gen¢rnlly A¢rtd Accotmung Prnctic¢) and ¥pplTrGxbl¢ law and regulatio5. Company low Tequitts th¢ tn&ees prepare financi31 staments for ¢h finwKial year. Under company law th¢ tree$ must not approve the financial 5tstcmeDts unl5 they are satisfied thaL tjy 8ivc a true and fair wew of the state of affaiT5 of the charifable comwy and of its incixnin8 resourcts and appli¢•tion of res0£t> ÉnclLsding its in¢ome and ex1tt. for th period. In tepann8 the5t financial stat¢mrtht8 the tntsteu are requtred to: select suithble accountin8 liCit5 and ippty them o)nsist¢ntJy: observe the rneth(xls and priit¢iples the Chfyrities SORP. rn&k¢ judgements estimat¢s re&sonable and [JeA& Sttle whether applicable UK Ac£ounriTrg Standards have bccn followed. subi¢et to any maorial deparnwts disclosed and explained in the fnCiBl 5tateThKnts.' and prepare the financial ststcments on the going con¢¢m bosis yokss it is inapwopriate to presume that the charitsble company wrll continue in b1r. The trvstees are re5wnsible for keeping adequate acwunting rcroTds that art suffi¢i¢nt to show and explain the charirable company's Iransaction5 and disc105e rrasonable accurney ?EaAy time the financial position of the ¢lwtsble c(*npany aml ¥)abl¢ them to ensure the fina?1 statements cornply wth th¢ C4)mpanies Aa 26. They are also re5pon5ible for safeguarding the aSts of the [lble company and hence f(>r taking reasonable steps forth¢ prevention and d10 of frnud •Jd other irre8ularitie5. Apwoved by the In¢¢$ of ¢h•sity 00 25 Juty 2024 aNI si8ned oo its behalf by.. vid Grnham Trustte Page 5
Statetnent of Fin2nci21 Activities for tbe Year End1 30 November 2023 Oncludillg Income and ExpeDditsre Account 2nd Statement ofTotal Rttognised GaiDS 2nd Lo&ses) Unrestricted ruDds Total 2023 Iyott Jwcorne Endowm¢#ts from: Donation5 ar legacie5 Other trading activities Inv¢sm)eni irwme 21.161 80.130 369 21.161 80.130 369 Total Incre 101,660 101.660 Expenditsre on: Wages arKI salaries Stsff training Moiorexpenses Depreciation of motorvehtcles Depreciation of offitt e4wipm¢tht Re (58.735) (30) (27J73) (11.792) (431) (2.670} (2781 (746) 1771 (2.126) (169) (1216) (58.735) (50) (27.373) (11.792) (431) (2.670) (278) (746) (77) (2.126) (169) (1,216) Raies Telephon¢ gnd fax Printing, postyEe and SlOnery Sundry expenses Cleanirtg LighL heat and Insurw Total Expendiwre (110.458 110.458 Net expenditure mov¢m¢n¢ it) fndS 8.798 (8,798) {8,M) Reeonciligtion off•nds Total brou8ht forward Totsl carried forward 164.870 164.870 13 156.072 156.072 Totsj 1022 Unrestritted funds r40tr locwe 8Dd Endowments from". Donations hrtd l¢gacies Other trading activities Jnve5¢ment iTKomc 36,741 78,455 209 36.741 78.455 209 Tolal Income 115.405 115.405 Exp¢Ndilure on: Raisyn8 fimds Charitable adivitic5 (101193) 4,867 (102.193) 4.867 Tot81 EXndIre 107.060 107.060 Nei uKome .345 8.345 P88e 7
Statement ofFiDan¢ial Activities for the Year Ended'30 November 2023 (Including Incojiie and Expenditsre Account Ststement of Totsl Rètognised Gains and Losses) UDr¢%lrf¢t fvttds 2022 Note Net ny)veTrt in fvrtds 8,345 ,345 Reco*cili8tioD of funds Total fund5 brought forward 156.52S 156,525 Total funds Lzrricd forward 13 L64.870 164.870 All of the charity's activitie5 deri¥e from continuin8 rrfmtions during the above iwo period& The fvnds bre4kdowm for 2022 is showTt in note 13.
(Registration number: 064Ir248) Balance Sheet as at 30 November 2023 2023 2022 Nots Flxed Assets Tangible assets 38.758 44,924 Current 855ets Debtors Cash bank and tn hand 7.494 109.820 6,109 111.750 17.314 l E7,859 Creditors: flling d¥tivithin •De yr 12 2.087 Iyet current assets 17.3 14 119,946 r4et assets 156.072 164,870 Funds of the chA Tity: Unrestritted income funds Unrestricted fi]nds 156,072 164,870 Tot#1 funds 13 156.072 164.870 For the finan¢i81 year ending 30 November 2023 th¢ chariry w¥s enrided tpti frnm audit under section 477 ofthe Compani¢s Aa 2006 r¢latin8 to Sm1 comp8rfftie5. Directys. resportsibilities." Th¢ membets have not required the chan.ty to obtstn an audit of its accounts fijr the yw in qucstion in accordance with section 476.. and The director5 adtnowledgt their rewn5ibilities for Comptying with the wu1ments of the Act with r¢spe to a¢¢ou#ting records and th¢ preporntion of These a¢¢ounts ha¥¢ be prepred in •crsn¢£ with the provisioA% applicable to companies subject to the small companie5 re8im The financial ststements on pages 7 to 18 trt approved by the and authorised for IS on 25 July 2024 and signed on their behalf by: id Graham TSlee
Notss to the Financial Ststements for tbe Year Ended 30 November 2023 I Charity ststs The ¢harity is a tharity limited by guarantee and con¥uentJy doe5 not have share capitaj. Each of the trustees is liabl¢ io an amount not exrKding £Ntl towards the t55ets of the charity in the event of liquidMion. 2 AccouDtiDg polities Summary of $ignifiunl atCO¥Dti•g policit5 •nd kny •tfOUDtillg estimates The principal a¢¢ounting polici¢s applied in the preparation of the5t financial statemcnts arc set out bcl¢)w. These policies have been ¢onsist¢ntly appited to all ttKy¢or5 pre%nt¢d. utkn oth¢rwi5e slat. stst¢m¢t of ¢ompll#aee The financtal $tat¢mthts have bccn pPaTed in accoTdanc¢ Accounting and Reporttng by Chafiti¢s". Ststement of Recommended Practi¢e 2ppliobl¢ tharÉti¢s preF¥Tirtg their aceouttts irt accordance with the Flnancial Reportin8 Standard applicable in the UK aThJ Republic of Ireland (FRS 102) (effeuivt S January 2015)- (Charities SORP (FRS I02)k the FinwKial Rwrtlng Standard appli¢abl¢ in the UK and Republic of ]land (FRS 102) and ihe Comp•eS Act 2(. B8Sts of PpTation North Wealden Community Trdnsport Parthership Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially nugnised at historical cost ortransaction value unless oiheTrvi5e statcd in th¢ rtlevant a¢mnting policy not¢5. GoiDg concern The trusttts consider that there aR no matrrial wKenainties alxmrt the chamys akn.lity to continue as a going ¢oncern Th)r any Signifirt of uncertainty affea the cwtng value of assets Ileld by thc charity. Exemption from prewing 8 e5h Ilow s(atemtnt The Ehority opl¢d to early adopt Bulldin I pyblishcd on 2 Fcbruary 2016 and hve thcTcforc not included a cash tlow st2temet)i it) these finan¢ial s¢atrmerAS. Intorne 8Dd endowments All income is reeo8nised once the ¢hatity h&8 the income, it is probable that the income will be Ttceived and the amount of the income receivable Can be rneasur&l reliably. Dow&lions aiidlegati DOnatiOr are recognised when the elwity beeTr norified in tiThg of both the amount and 5ettYement dat& In the event that a donatioTh 15 subject to CODditiLYts that rEquire a level of perfijrnwnce by thc charity bEfore the charity is ¢ntitl&l to the fund% the rn¢om¢ is deferrtl reCols¢d urfil eithv th(6e conditions are fulty mel or the fulfilment of those conditions is wholly within the control of the eharity and it is probable thar these cOTltiOnS will be fulfilled in the rertIng period. GrtTnts recelvuble Grdnts are recogni5ed when the charity bas an entitiemurt to the fwM15 and any conditions linkcd to the grnnts have b¢¢Tr m¢t Where FfOr wnditsons are att&h¢d to th¢ Jnd y¢t bE th¢ income is r¢¢wis¢d as o liability aNI in¢Juded on th¢ balance shed Ls d¢ftsre41 IrOme to be r¢le&Yd. Pa8e 10
Noto8 to the FinaDcial StatemeDts for the Year Endtd 30 November 2023 Divhdrnd5 ar¢ r¢¢owsed on¢e the di¥ithd h&$ been declartd and notsfiration has bten received of the dividend due. Expeoditure All expenditwe 15 tEcogni5ed orKe therE is a Ifgal or U)n$Ve Oblilon fo that ¢xp¢ttditur¢, li is prohbEe settlerneni i5 required and the amount ¢an b¢ measured reliably. A]1 costs are allocated to the applicable expendinjre ladiog that ag8regat¢ similar costs to thai category. Where costs cannot bt directly attribut&] to particular headings they have Fen allocated on a b0515 consistent with the use of resour with £traI 5tsff costs allocated on the basis of time speni and depreciaiion charge5 ajlorated on the portion of th¢ asset's use. Other support costs are loC8ted the spread of staff costs. Rai5ingfvnd5 These 8re CA5 incuwred in attracting volunw irKom4 thE of in¥¢5tty•ts aThJ dKJse in¢uJYed in trading aL1ivities th rni$e fvT¥J Governance tosts Thest include the costs attributable to thE rharity"'s wmplianrK with C1)nltiOnal and w4uiffmen in¢luding 14udi( StrOt¢gi¢ managemen¢ 45)d trustees's nwings WKI 1Mbur$¢ up¢nse5. CovernrneDt gr•nts Government grants are T¢lSed bd on the accrual )de1 and are mca5ured 81 thc fdir w4lue of the osset received or le1¥•ble. Grnnts ar¢ ¢lassified as relating either to revenue or to &ts. Gr2nts relatin8 to revenue art recognised in income over the Per[L in which the related costs ire ld. Grdnts rcl8ting to 1S5ets aiy [QgnId ov¢r the ¢xpErtcd [1 lift of th¢ &sseL Where part of 8 grathi F¢lating w an asse¢ is deferre it is ieco8Thised as deferrnl in¢om¢. Taxatio Thc charity is consider to pass thc tests 5Ct (wjt tn Paragraph I SthAlul¢ 6 of the FinDnc¢ A¢t 2010 4Dd th¢r¢fore li me¢ts th¢ definition of ) ¢lJaTitable ¢ompany for UK ¢orw)ration trx pwpws. A¢¢0rdinY, charity is p)tentialty exemw from l&¥ation in TesFeci of income or (apitsl gain5 received within cate¢vories covered by Chapler 3 Part I l of the CoTporation Tax knt 2010 or lon 256 of the Ta¥atiOD of Clwg¢•ble Gairf 1992. 10 the exnt suth in¢(ffne or 4Te alyli1 eXdIveIY to dwit8bl¢ purpos¢s. Taugible fjxed %ssets Individual fixed 855ets costing £0. or more are initially rtcordEd at CC6L le55 any 5ub5cqucnt accumulatd depreciation and 5ubsequcnt accumulat impdirmcnt Ios5e5. Depr¢cigtion and amortistiOII Deprcci8tion is provided on tangible fixed assets 50 as to vlrite off the cost or valvalion. le55 any estimate41 residual value. over their expecieil useful life &$ follow5: Page 11
Notes lo the Finaneial Ststements for the Year Ended 30 November 2023 Tre d¢btors Tnde debtors art due fr(xn for merdlse sold or 5ervice5 wftsrn in the (wdijwy outsc of busiThc5S. Trade debtors are recognised iThitially at the ÉraLsxtiCffl Fffice. They are yjbsequently measured amortised u)5t using the effective interest method. less provisic impaiFmert. A provision for thc irnpiment of trade debtors is establish Wh th¢r¢ is objpXÈveevid¢ttt that the (tsity will n¢X be able to collect all amounts due accordin8 to the ori8ina] tern of the rtceivable& Cgsh xnd cash equivalents C¥h and e&sh equivalettts ¢ompris¢ Lxsh on hand and call depjsits: aThl other short-lerm highly liquid investrnents that aTe readily convertible lo a kno1 amount of cash and are subj¢rt to )n insignificant risk of ¢hang¢ in value. Borrowings Int¢rE5t.bvaring borrowings are intts311y recordcj at fair valu@ net of I[2nsalon costs. Imerest-bearing borrowings are subwu¢ntly carrie4J * 8mortised w with the difference tetwttn the F<cce¢ds. nd of transaction costs. attd the aThunt on redemption king rewised as a Charge to thE Ststrment of Financial Activities over the peri¢)d of the rtle¥trt iyjrnwin t¢r¢st ¢xpens¢ Ès Fecwis¢d on the b¥is of tr eff¢¢tive interest ffledb)d and is includeA in inteTt5t payRblc and similar charBes. Borrowings are classified &$ current liabiliiies unltS5 the charity an Tkd]bOTh right to defts settlement of th¢ liability for 411¢o51 ¢w¢lvt mnihs aftcr th¢ reporting d4te. Fuod strnctu Unrtstricted income fijnds generaj fimds are available for use at the tWU5tce5's di5Crttion in fvrthernn¢¢ ofthe objective5 of the charity. Fithancial illstrume*ts Clossificfflion FinwKial assets and financtal liabilities are Eeco8nised when the dwity become5 a porty to the rontr8C4u•I provisions of the instnunent. Finarbtial liabilities equity i[Wrv ar¢ clwified according to the subllance of the contrnctI aTran8ements cnternl into. An eqwty iAstrur¢xnt is any contract that evidences a residutl inttiest in the ¥ss¢ts of the Charity aftcr deducting ] of its liabilitie5. P8ge 12
Notos to th¢ FiDxntial Stst¢m¢nts for the Year Ended 30 November 2023 Recognilion owdmewsiirenwvt All fjnancial assets aTrd liabililye5 aff irtiliajly mea5wtyJ at transadirm prt¢e {inclLzding transaction ¢osts), except for ih05e firtartCl81 assrts clwified as at Pair Ve through p¥ofit or 104 ¥¥hich art iniiially measured at faiT Val {which is nornaily the transaction price excludin8 tr8n5action c05ts). lesS the arrangement constityS a financing transaction. If an arrangcmcnt consritutC5 a fina¥King trnn$al¢L the financial asset or financi liability is rneasurcd at the Present valu¢ of the firture payments di$U at a rnsrket rate of interw for a sirnilar debt instrumenL Finan¢i81 assets and liabilities e only offset in the smuneni of finan¢ial position wh. and only when there exists a lewally ¢nforteable ri8ht to set off the reco8nised arDounts and the dwity irttr¥Js either to settle orb a net basi& or w reali5e the asset 8rKI 5ettl¢ the liability simult5]y. Financial assets are dewsed when and only when a) the Comra rights to the c45h flows frorn th¢ financial asset ¢xpire or are settled. b) the charity transftr5 to 8nother party 5ubsrantllY of the risk5 and rewdrds of ownership of the financial asseL or c) thr ¢lwrity, dtspi having retstned sonTC, not all. $ilfiCant risks and T¢Watds of ow1r$.p. transfeed control ofthe asset to another pHrty. Financial liabilities art derecognis¢d onty the obligatton Specifi ITr the contra¢t is th"sch•rged, cancelled OT expires. Pa8e 13
Notts to the Financial Ststements for the Year Ended 30 November 2023 Debi Instnlmet whith meet the following ¢ondilions arE wbwuently llsured at amortised usin8 the effKtive inlerest method". (a) The contsartual f¢thun to thE lthr is (i) a fiXj {ii) a pJ5itive fixed rate or a positive variable rate. or (iii) a combination of a py)sitiY¢ ty a negative fixtyj rnt¢ and a Fw)sitive variable rate. (b) The contract may pmwde for Nynts of the principal or tht fEbJrn to the holder (but Dot both) to be linked to a single le¥artt ob5ervaWc index of 8¢OErnI prirc infhtion of currerKy in whith the debt instnthient ts denominatrf provided lirths are not le¥era8&J. (c) The contract may provide ffK a detemiinable vari3trtyi of thv retym to the I[der during the life of t instTurnen¢ provTrded that (i) the new rnte satisfits tion (a) and th¢ variatiou i$ ¢ontingen¢ on fvtUFe events oth¢r than (l) a Change of a ronlJBclual vartable rare: {2) to proteth the holder a8ain# credir deterioration of the issuer. (3) Changes tn levies applied by a ttntrnl bwk or arising fr¢)m changes in relevant IatiOn OT law: or (li) the new rate Tr5 a market r3te of interest and 1sfie5 condttion (a). (d) There is no contractL] provision that ¢(4Jld. by its ierm& rc5uIt in the hol¢kr losing the prinGipal amount or any Fntere5t attributable to the wtrMI or pnorperir#ts. (e) Contractual provisions pemiit the iwer to prepay a debt instrutntst or permit the holikr to put it h¢k to th¢ isstser before maturity are not contin8ent on firtWE events. other than ro protttt the holder against the credit dererioration of the issuer or a change in ¢ontrol of the. iswer. or lo protect the holder or issuer against changes n levies applied by a central bank or aSing fr(#m cw irt Felevart thxÈon OT law. (fy ContVdCttJal provision$ may pumit the exien5ion of the of the debt in5trumen( provided thar the return io thc holder and any other contractual provisions applicabIe during the exTrMl&l tem satisfy the conditions of Paragrap (a) th (¢). D¢bt InstrW that aTE ¢las5ified a5 payable or TEceivable within one year on initial reco8nttion which meet the abov¢ conditirns are me2suwd * tt uhdis¢(wted amunt of the cth or ¢xher con5tderation expected to be paid or received. Det of impatrmeThL Wilh the exewion of gy¢ hging debt inslruments not rneeiing thesE Eonditions are measuffd * fair value thrnugh profitor I$. Commitments to make and rxeive loarts which med the ¢ODdtti( menti0ft above ar¢ measured at ¢osr {whith may be nil) le55 irnpoirmenL In5ents InYcstm¢nts in non.convertible preTee shares and non-putrabIe ordinary or preference shares (where shar a pvblicly tTtded or their fair is rtliably murable) are measured at fair value thriyjgh profit or loss. WherE fair value ¢nn0t be rne&wre4J rejiably. inve51ments ore rneawjrd at cost less impairnienL Inv&stments in Subsid1leS and a$sctia are m¢8sur¢d #t ¢oy 1¢gs impaimwiL For invewnents in subsidiari¢s acquired for consideratÉon includin8 the issue of shares qualifyin8 for muger relief. cost is measured by refererKe to the notrunal value of the Shar issued plus fgir value of other considerntion. Any premiuTn is i8nor&J. Pag¢ 14
Notes to the Financial Statemettts for the Year Ended 30 Nov¢mber 2023 Derivtttiv¢fiJtoiiciolinstruments The ¢harity uses derivative fLnarKial Instr to exp)1¢ thign ¢x¢hange aTKi itrterest rate movements. The charity doe5 not JN)Id or issue dcrivalive finaKial lntynjts for spxulative purse$. Derivatives are initially recogni$ ai fir value * the date a dErivive contract is emered into and are 5ubsequ¢ntly reTnWUrtd to th¢ir fair value at each relIng dat¢. The r¢wlting sain or 105S t5 recogni5ed in staiement of financial activities immediatety unle55 thc derivattve is desiat&9 and effectivt as a hedgti instrum¢n4 in which eveni ihe timing of tht rccognition in Wtemeni of financial actsvbtie5 deperlds orh the nature of the hedge rrlation5hi Ft7ir value n17Srert The st evidence of fair value 15 a quod prirc for an idEnti] asset Tn an actrve maTket wIn quotcd prices are unavailable. the price of a tcttnt tran5artion for on idtntical assd providts evidence of fair value as long 8S there has [1 been a SIlfJont thange in economic crrctsmstances or a signifJc4nt lapse of tim¢ since the ansaui¢)rt took plaee. If the market is not active and reccwtt tr¥rtsa¢tions of an ide4)ii(21 ¥set on their own are noi a gwd estimate of f3ir value. the fasr value is estimated by using a valuotion ttthnique. 3 Income from dOaatio attd legei¢s ijfyresttirted funds Tot1 2•23 Totsl 2022 Ge&ernl Donations and leg1¢$. DationS from irmlividuals Grants. including capital grants" Gov¢rnm¢nl Reeular 8ivin8 and capital donation5 2.341 3JlO 19.791 13.640 12220 11220 36.741 4 lucome fTOm oihertrdi#g *ttiwiti Totsj 21)23 Totsl 2022 Gentral Trading in¢ome" Incorne from provision of bus services Bus Service Operator Grant 79238 s1 79238 892 77.554 80.130 80.130 78,455 Pa8e 15
Notes to the Financial Ststemeots for the Year Ended 30 Novejnber 2023 S Investm¢t ifttothe fu#ds Total 2023 Totsl 2022 GtDtral Tnterest receivable and similar ir Interest recciv&ble on Imnk deposi 369 369 209 6 Exp¢ditryTr rhxritsbk a¢tivilw5 fuHds Totsl 2023 Totsl 2022 Cehevl Note &oii 6.011 4.867 7 Net ittt0thlttoItOIllg rtsor {ovtgoingyincoming re51yJrcc5 forthe ye4r include: 2023 2022 tkprcGiation of fixed l1223 8 , Trustees r¢mun¢TaoTh ADd exp¢• 9 Stsff ¢osts The aggregate payroll coxs were as follows: 2023 2022 Statreosts duri#g tht ye#rw¢r¢: Woges and salari& 58.735 55,110 No employee Ttteived emolumthts of more than £.( during theyear. Pw16
Notes to the Finantial Statements for the Year Euded 30 Nov¢mber 2023 AO Taiatio• The charAty 15 a rewMer&4 charity and is thrrtfor¢ exemo from tix1. 11 Ta•gible fixed a55ets Motor vebide5 Compul¢f ¢quipm¢nt Tot•l At l D¢cember 2022 Addttion5 227.896 1917 13.768 241,664 6.017 At 30 NOrnb 2023 230.813 16.868 247,681 Ikpreci8tioD A¢ l December 2tr22 CharBt for thE year 1 .972 11.752 13.768 431 196.740 12.183 At 30 Ntsvemlr 2023 194.r24 14.199 208.923 Net book valut At 30 NovtyDb¢r 2023 36.089 2.669 38.758 At 30 Nov¢mbu 2022 44.924 44.924 12 Cr¢ditws: fllingd•e withiTr one yeT 21n3 2022 VAT grnnt repayable .08 13 Fu•ds Balallte al I Dtternbtr Balllct at 30 Novtthb¢r 2023 IDcoThi•E R¢sour¢ ¢xpended 2022 UTrreJtTirtsJ funds Gellernl 164.870 101.660 110,458 156,072 B4l¥nee #t I Detember 2021 Balance at311 Nov¢mb¢r 2022 Rewtsrees eXp¢ded rwourt¢s Unrestricted fullds General 156.525 115,405 164.870 Pa8e 17
Notes to the FiDancial StatemeDts for tbe Year Ended 30 November 2023 14 AD¥tysis offj¢t 4S8ets b¢twee# fumd$ Uor¢striet funds Cenergl Totsl fund5 Tangible fixed assets CurTtnt 38.758 I io. l94 38.758 110.194 Total net 8S5ets 148.952 148.952 IS AnAlysis of net hwls At l December At 30 NovtN)ber 2023 Cash flow C•tsh et bank and hd 111.750 (1.930) 109.820 ¢ash 111.750 (1.9301 109,820 Page 18