Charity registration number 1129560
Company registration number 06874791 (England and Wales)
EXETER COMMUNITY TRANSPORT ASSOCIATION
(A COMPANY LIMITED BY GUARANTEE)
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
PAGES FOR FILING WITH REGISTRAR
EXETER COMMUNITY TRANSPORT ASSOCIATION (A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr I Martin Mrs J Gale Mr W Williams Mr G Prowse Mr C Norton Mrs C M Hunt Mrs N E Warner
Secretary Mrs E S Steele Charity number 1129560 Company number 06874791 Registered office 8-10 Paris Street Exeter Devon EX1 1GA Accountants Darnells Chartered Accountants 3rd Floor The Forum Barnfield Road Exeter Devon EX1 1QR
EXETER COMMUNITY TRANSPORT ASSOCIATION (A COMPANY LIMITED BY GUARANTEE) CONTENTS
| Page | |
|---|---|
| Trustee's report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the accounts | 6 - 14 |
EXETER COMMUNITY TRANSPORT ASSOCIATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEE'S REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2022
The trustees present their annual report and financial statements for the year ended 31 March 2022.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the association's Memorandum and Articles of Association dated 9 April 2009, 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 102)” (as amended for accounting periods commencing from 1 January 2016).
Objectives and activities
The trusts objective is to provide mobility aids to assist the disabled residents of Exeter and the surrounding district.
The trust have paid due regard to guidance issued by the Charity Commission in deciding what activities the trust should undertake.
The activity of the charity is that of running and maintaining a fleet of mobility vehicles based in Paris Street, Exeter in furtherance of its objectives as detailed above.
Achievements and performance
The trust has endeavoured to maintain the provision of mobility services under difficult economic conditions and is indebted to its dedicated band of staff and volunteers in achieving this.
Impact of Covid-19
In the year to 31st March 2022 the impact of covid-19 on the association was much reduced compared to the prior year. The economy was opened up by the Government in July 2021 and the association has managed itself to minimise risk to employees, volunteers and users of our services, so that we are trading as normally as possible. During the year additional grants were received from supporters in connection with our covid appeal.
Financial review
It is the policy of the association that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the association’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has increased this year.
Risk management:
The trust has assessed the major risks to which the trust is exposed, and is satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
The trust is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The trustees, who are also the directors for the purpose of company law, and who served during the year were: Mr C Gale (Resigned 11 January 2022)
Mr I Martin Mrs J Gale Mr W Williams Mr G Prowse Mr C Norton Mrs C M Hunt Mrs N E Warner
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EXETER COMMUNITY TRANSPORT ASSOCIATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEE'S REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2022
Recruitment and appointment of trustees:
Under the requirements of the Articles of Association, trustees are elected for a period of three years after which they must be re-elected at the next Annual General Meeting. Trustees annually review the period of service.
All the trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed by the trustees from the charity are set out in note 9 to the financial statements.
Organisational structure:
The charity is administered by Mr Michael Ellis, General Manager, who reports to the trustees.
On behalf of the board of trustees
Mr I Martin
Trustee Dated: 13 September 2022
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EXETER COMMUNITY TRANSPORT ASSOCIATION (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF EXETER COMMUNITY TRANSPORT ASSOCIATION
I report on the financial statements of the association for the year ended 31 March 2022, which are set out on pages 4 to 14.
Respective responsibilities of trustees and examiner
The association’s trustees, who are also the directors of Exeter Community Transport Association for the purposes of company law, are responsible for the preparation of the financial statements. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
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(i) examine the financial statements under section 145 of the 2011 Act;
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(ii) to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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(iii) to state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the financial statements present a ‘true and fair view’ and the report is limited to those matters set out in the next statement.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
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(a) which gives me reasonable cause to believe that in any material respect the requirements:
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(i) to keep accounting records in accordance with section 386 of the Companies Act 2006; and
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(ii) to prepare financial statements which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities;
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have not been met or
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(b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
Sean Murphy Darnells Chartered Accountants
3rd Floor The Forum Barnfield Road Exeter Devon EX1 1QR
Dated: 20 September 2022
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EXETER COMMUNITY TRANSPORT ASSOCIATION (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2022
| Unrestricted Restricted funds funds Notes £ £ Income and endowments from: Donations and legacies 3 38,915 66,520 Charitable activities 5 48,270 - Investments 4 312 - Other income 6 3,821 - Total income 91,318 66,520 Expenditure on: Charitable activities 7 105,726 9,564 Other 11 - - Total resources expended 105,726 9,564 Net (expenditure)/income for the year/ Net movement in funds (14,408) 56,956 Fund balances at 1 April 2021 54,768 71,269 Fund balances at 31 March 2022 40,360 128,225 |
Total 2022 £ 105,435 48,270 312 3,821 157,838 115,290 - 115,290 42,548 126,037 168,585 |
Total 2021 £ 6,461 67,085 21 28,771 102,338 109,740 (1,384) 108,356 (6,018) 132,055 126,037 |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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EXETER COMMUNITY TRANSPORT ASSOCIATION (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET
AS AT 31 MARCH 2022
| Notes Fixed assets Tangible assets 13 Current assets Debtors 15 Cash at bank and in hand Creditors: amounts falling due within one year 16 Net current assets Total assets less current liabilities Income funds Restricted funds 17 Unrestricted funds |
2022 £ 9,107 69,487 78,594 (11,469) |
£ 101,460 67,125 168,585 128,225 40,360 168,585 |
2021 £ 3,217 66,040 69,257 (9,119) |
£ 65,899 60,138 |
|---|---|---|---|---|
| 126,037 | ||||
| 71,269 54,768 |
||||
| 126,037 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2022.
The directors acknowledge their responsibilities 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on 13 September 2022
Mr I Martin Trustee
Company registration number 06874791
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EXETER COMMUNITY TRANSPORT ASSOCIATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
1 Accounting policies
Charity information
Exeter Community Transport Association is a private company limited by guarantee incorporated in England and Wales. The registered office is 8-10 Paris Street, Exeter, Devon, EX1 1GA.
The Trust is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liabilty in respect of the guarantee is limited to £10 per member of charity.
1.1 Accounting convention
The financial statements have been prepared in accordance with the association'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 102)” (as amended for accounting periods commencing from 1 January 2016). The association is a Public Benefit Entity as defined by FRS 102.
The association has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the association. Monetary amounts in these financial statements are rounded to the nearest £.
The accounts have been prepared under the historical cost convention.The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the association 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 statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the association.
1.4 Incoming resources
Income is recognised when the association is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the association has been notified of the donation, unless performance conditions require 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 association has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services provided in the normal course of business, net of discounts.
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EXETER COMMUNITY TRANSPORT ASSOCIATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
1 Accounting policies
(Continued)
1.5 Resources expended
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs 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 activity are apportioned between those activities on a basis consistent with 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 asset’s use.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings 25% straight line basis Plant and machinery 6 years straight line basis Computers 25% reducing balance basis Motor vehicles 25% straight line basis/10% straight line
The gain or loss arising on the disposal of an asset is determined 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 Financial instruments
The association has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the association's balance sheet when the association becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic 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. Financial assets classified as receivable within one year are not amortised.
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EXETER COMMUNITY TRANSPORT ASSOCIATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
1 Accounting policies
(Continued)
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within 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 that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the association’s contractual obligations expire or are discharged or cancelled.
2 Critical accounting estimates and judgements
In the application of the association’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates 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 underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Depreciation
The main estimate is the depreciation policy applied to motor vehicles and mobility scooters.
3 Donations and legacies
| Unrestricted | Restricted | Total | Unrestricted | |
|---|---|---|---|---|
| funds | funds | funds | ||
| 2022 | 2022 | 2022 | 2021 | |
| £ | £ | £ | £ | |
| Donations and gifts | 38,915 | 66,520 | 105,435 | 6,461 |
All donations and legacies were received from donors within the United Kingdom.
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EXETER COMMUNITY TRANSPORT ASSOCIATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
4 Investments
| Interest receivable 5 Charitable activities Grants - ECTA Grants - Ring & Ride Grants - 4R's project General charitable activities |
2022 £ 312 2022 £ 75,227 21,236 - 18,327 114,790 |
2021 £ 21 |
|---|---|---|
| 2021 £ 52,658 871 3,500 10,056 |
||
| 67,085 |
6 Other income
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2022 | 2021 | |
| £ | £ | |
| Coronavirus job retention scheme grant | 1,396 | 28,449 |
| Other income | ||
| 2,425 | 322 | |
| 3,821 | 28,771 | |
| Other income includes the following: | ||
| ECTA £2,295 (2021: £292 ) | ||
| 4R's Project £130 (2021: £30) |
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EXETER COMMUNITY TRANSPORT ASSOCIATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
7 Charitable activities
| Restricted funds Unrestricted funds 2022 2022 £ £ Depreciation and impairment 9,564 - Activities undertaken directly - 403 Volunteer and employee expenses - 4,777 Computer expenses - 3,238 9,564 8,418 Share of support costs (see note 8) - 95,238 Share of governance costs (see note 8) - 2,070 9,564 105,726 Analysis by fund Unrestricted funds - 105,726 Restricted funds 9,564 - 9,564 105,726 For the year ended 31 March 2021 Unrestricted funds - 104,086 Restricted funds 5,654 - 5,654 104,086 |
Total 2022 2021 £ 9,564 403 4,777 3,238 17,982 95,238 2,070 115,290 105,726 9,564 115,290 |
Total 2021 £ 5,654 227 1,629 2,337 |
|---|---|---|
| 9,847 98,393 1,500 |
||
| 109,740 | ||
| 104,086 5,654 |
||
| 109,740 | ||
| 104,086 5,654 |
||
| 109,740 |
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EXETER COMMUNITY TRANSPORT ASSOCIATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
8 Support costs
| Support costs Governance costs £ £ Staff costs 66,416 - Depreciation 3,975 - Bank charges 221 - Rates and water 352 - Insurance 4,919 - Printing, postage and stationery 838 - Light and heat 1,330 - Repairs 10,829 - Sundry 11 - Telephone 1,146 - Motor expenses 4,781 - Staff and volunteer expenses 420 - Accountancy - 2,070 95,238 2,070 Analysed between Charitable activities 95,238 2,070 |
2022 £ 66,416 3,975 221 352 4,919 838 1,330 10,829 11 1,146 4,781 420 2,070 97,308 97,308 |
2021 £ 72,147 4,115 84 152 5,210 587 4,312 7,048 13 995 3,447 283 1,500 |
|---|---|---|
| 99,893 | ||
| 99,893 |
Governance costs include accountancy fees of £2,070 (2021- £1,500) for accountancy fees.
9 Trustees
Only one trustee received reimbursed expenses in the year in connection with virtual meeting subscription costs.
10 Employees
The average monthly number of employees during the year was:
| 2022 | 2021 | |
|---|---|---|
| Number | Number | |
| 5 | 5 | |
| Employment costs | 2022 | 2021 |
| £ | £ | |
| Wages and salaries | 66,416 | 72,147 |
There were no employees whose annual remuneration was more than £60,000.
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EXETER COMMUNITY TRANSPORT ASSOCIATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
11 Other
| Unrestricted | Total | |
|---|---|---|
| funds | ||
| 2022 | 2021 | |
| £ | ||
| Profit on disposal of tangible fixed assets | - | (1,384) |
12 Ring and ride Income and expenditure
The income and expenses of the association is derived from a number of activities, one of which is the Ring and Ride bus service which constitutes 2.7% of the total income (2021: 7.5%). Similarly, the expenditure relating to the Ring and Ride service constitutes 15.4% (2021: 23.7%) of total expenditure.
13 Tangible fixed assets
| Tangible fixed assets | ||
|---|---|---|
| Cost At 1 April 2021 Additions At 31 March 2022 Depreciation and impairment At 1 April 2021 Depreciation charged in the year At 31 March 2022 Carrying amount At 31 March 2022 At 31 March 2021 |
Land and buildings Plant and machinery Computers Motor vehicles £ £ £ £ 2,988 41,900 19,365 62,780 - - - 49,100 2,988 41,900 19,365 111,880 2,988 28,913 18,119 11,114 - 4,084 312 9,143 2,988 32,997 18,431 20,257 - 8,903 934 91,623 - 12,987 1,247 51,666 |
Total £ 127,033 49,100 |
| 176,133 | ||
| 61,134 13,539 |
||
| 74,673 | ||
| 101,460 | ||
| 65,899 |
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EXETER COMMUNITY TRANSPORT ASSOCIATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
| 14 Financial instruments Carrying amount of financial liabilities Measured at amortised cost 15 Debtors Amounts falling due within one year: Prepayments and accrued income 16 Creditors: amounts falling due within one year Other taxation and social security Trade creditors Accruals and deferred income |
2022 £ 10,413 2022 £ 9,107 2022 £ 1,056 602 9,811 11,469 |
2021 £ 8,098 |
|---|---|---|
| 2021 £ 3,217 |
||
| 2021 £ 1,021 - 8,098 |
||
| 9,119 |
17 Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
| Movement in funds | Movement in funds | |||
|---|---|---|---|---|
| Balance at | Incoming | Resources | Balance at | |
| 1 April 2021 | resources | expended 31 March 2022 |
||
| £ | £ | £ | £ | |
| Bus fund | 59,792 | - | (9,143) | 50,649 |
| Cabin car and scooters fund | 11,477 | - | (421) | 11,056 |
| New bus fund | - | 66,520 | - | 66,520 |
| 71,269 | 66,520 | (9,564) | 128,225 |
Bus fund
Bus fund represents money raised for the purchase of our own bus to end reliance on the bus leased from Devon County Council.
Cabin car and scooters fund
Represents funds raised for the purchase of cabin car and scooters.
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EXETER COMMUNITY TRANSPORT ASSOCIATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
18 Analysis of net assets between funds
| Analysis of net assets between funds | ||
|---|---|---|
| Unrestricted funds Restricted funds 2022 2022 £ £ Fund balances at 31 March 2022 are represented by: Tangible assets 101,460 - Current assets/(liabilities) 67,125 - 168,585 - |
Total 2022 £ 101,460 67,125 168,585 |
Total 2021 £ 65,899 60,138 |
| 126,037 |
19 Related party transactions
There were no disclosable related party transactions during the year (2021 - none).
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