Registered number: 07150185 Charity number: 1136169
RISBOROUGH AREA COMMUNITY BUS
(A company limited by guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2022
RISBOROUGH AREA COMMUNITY BUS
(A company limited by guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the company, its Trustees and advisers | 1 |
| Trustees' report | 2 - 9 |
| Independent examiner's report | 10 |
| Statement of financial activities | 11 |
| Balance sheet | 12 - 13 |
| Notes to the financial statements | 14 - 22 |
(A company limited by guarantee)
RISBOROUGH AREA COMMUNITY BUS
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2022
| Trustees | Mr M Thomas |
|---|---|
| Mr J G Hughes | |
| Mr J M Maultby | |
| Mr P G Johnson | |
| Mr R Stevenson | |
| Mr R Barnard | |
| Ms J Carmichael | |
| Mr R Page | |
| Company registered number 07150185 Charity registered number 1136169 Registered office c/o Hypnos Limited Longwick Road Princes Risborough Buckinghamshire HP27 9RT Management CommitteeMr P G Johnson, Chairman Mrs J Carmichael, Treasurer Mrs D Goodchild, Coordinator Mrs G Seels Mr R Stevenson Mr R Barnard Mr J Stevens Mr C Boyce Mr I Firth Mr G Harris Mr R Brown Accountants MHA MacIntyre Hudson Chartered Accountants Unit 4, Foundation Park Roxborough Way Maidenhead Berkshire SL6 3UD Bankers TSB Ltd PO Box 373 Leeds LS14 9GQ |
Page 1
RISBOROUGH AREA COMMUNITY BUS
(A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2022
The Trustees present their annual report together with the financial statements of the company for the 6 April 2021 to 5 April 2022. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).
Since the company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
The charity's objects are specifically restricted to providing, operating and maintaining transport facilities for people in the Risboroughs and adjacent parishes, including Bledlow cum Saunderton, Ellesborough, Great & Little Hampden, Great & Little Kimble cum Marsh, Lacey Green and Longwick cum Ilmer, who have special need of such facilities because they are elderly, poor or disabled, have young children or live in isolated areas where there are no adequate transport facilities.
b. Activities for achieving objectives
The charity provides a community bus service.
c. Main activities undertaken to further the company's purposes for the public benefit
RACB provides public benefit by operating under Section 22 of the Road Traffic Act 1998. Section 22 permits are issued to bodies concerned for the social and welfare needs of one or more communities. They operate vehicles without a view to profit and use those vehicles to provide a community bus service. Community bus services are ‘local bus services’ and can carry the general public. Local bus services are defined as services using public service vehicles for the carriage of passengers by road at separate fares on which passengers may travel for less than 15 miles.
Page 2
(A company limited by guarantee)
RISBOROUGH AREA COMMUNITY BUS
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022
Achievements and performance
a. Review of activities
From March 2020 to mid-July 2021 the Covid 19 pandemic prevented RACB from delivering our usual services although from April to August 2020 we helped deliver vital supplies to outlying villages. However, following careful consideration and extensive planning, in particular on measures to minimise the risk of infection to both passengers and drivers, we successfully restarted our services in mid-July. Fortunately, our volunteer drivers remained very loyal and we kept all but one throughout the Covid shut-down, ending the year with 31 drivers.
Passengers welcomed the return to service but it was clear that some of our more elderly passengers had not survived the pandemic and others had moved to care homes. Moreover, it was apparent that others seemed reluctant to venture out. The result of this was a marked decrease in passenger numbers compared with preCovid levels. Initially numbers were down by some two thirds but increased gradually to about half pre-Covid levels.
Fortunately, both the Government and Buckinghamshire Council continued with their rebate schemes, Bus Service Operators Grant and Concessionary Fares rebate respectively, at 100% of pre-Covid levels. However, the Council will reduce the level of the Concessionary Fares rebate to 92% from April 2022.
In September we purchased a new ticket machine which accepts swiped concessionary cards, records passenger numbers on each individual route, records cash fares, issues tickets and provides management data. It has significantly reduced the workload on our Coordinator and is a marked improvement on our old machine which was obsolete and gave up the ghost just before our new machine became operational on 4 January 2022.
In November the Princes Risborough Fire Station asked us to vacate our parking space and we were lucky enough to find a new home at Culverton Farm on the outskirts of the town. Recently we have approached the original Fire Station/Police Station site and they have agreed that we can return, albeit parking the bus at the rear of the site.
During the year slow but steady progress was made in identifying likely all-electric contenders to replace eventually our diesel bus and the infrastructure required to support such a bus by way of charging facilities and accommodation. Work will continue next year.
Members of the Management Committee, together with Trustees, deserve thanks for their hard work in preparing for restart including liaison with Bucks Council and other bodies, procuring necessary cleaning and sanitizing equipment, preparing notices, informing passengers and drivers, and analysing the risks involved. That the restart was successful is testament to that hard work.
a. Investment policy and performance
RACB has investments in fixed-rate deposit accounts with The United Trust Bank and with the Cambridge & Counties Bank. As these investments mature, they will be re-invested in further fixed-rate deposit accounts, commensurate with the anticipated programme for replacement bus purchase.
Page 3
RISBOROUGH AREA COMMUNITY BUS
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022
Achievements and performance (continued)
b. Key performance indicators
RACB has three Key Performance Indicators (KPIs):
Carriage of some 20,000 concession-holding and fare-paying passengers per year Maintenance of sufficient number of qualified drivers to sustain the service Financial stability
The second two KPI's were achieved, however due to the pandemic the first KPI was not achieved during the year as noted above in review of activities for the year.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
b. Reserves policy
RACB has unrestricted reserves of £222,787 ( 2021: £213,897) mainly invested in fixed-term deposits. This reserve will go towards the purchase of RACB’s next minibus – due in a few years' time to replace or be additional to the current minibus. RACB’s present aspiration is to replace the current minibus with a hybrid or fully electric bus if available in the timescale, the cost of which could be significantly more than the present reserve. Further fundraising will be required to provide both an operating reserve and to build funds towards the purchase of a follow-on minibus. Currently, RACB is not actively fund-raising on a formal basis but any future grants or significant donations will be added to reserves until required.
c. Principal funding
The principal funding sources for RACB are fares, the rebate from Buckinghamshire Council on concessionary fares, income subsidy from Buckinghamshire Council for the Kimbles and Ellesborough route and donations. Occasionally, small grants are made by local councils and other local bodies.
Page 4
RISBOROUGH AREA COMMUNITY BUS
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022
d. Principal risks and uncertainties
-
Reduction in passenger numbers leading to reduction in income from fares and concessionary fares rebate;
-
Bus breakdown and/or damage resulting in service failure;
-
Failure to recruit sufficient volunteer drivers;
-
Inadequate management and/or governance.
Actions taken to reduce these risks include:
-
Positive and ongoing marketing activity in order to promote the service to as many people as possible within Princes Risborough and surrounding areas.
-
Development of an effective Marketing Strategy and a 5-year Strategic Review
-
Development of an efficient and effective bus maintenance team and provision for a replacement bus if and when required.
-
Use of current drivers to promote interest amongst friends and family in becoming volunteer drivers
-
coupled with active advertising for volunteers when required.
-
Maintenance of a skilled, experienced and dedicated team of people willing to take responsibility.
Page 5
RISBOROUGH AREA COMMUNITY BUS
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022
Structure, governance and management
a. Constitution
The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 08 February 2010, as amended on 23 May 2016.
The company is constituted under a Memorandum of Association dated 08 February 2010, as amended on 23 May 2016, and is a registered charity number 1136169.
Risborough Area Community Bus is a company limited by guarantee and an exempt charity. The charitable company’s memorandum and articles of association are its primary governing documents.
The Trustees of Risborough Area Community Bus are also the directors of the charitable company for the purposes of company law. The charitable company is known as Risborough Area Community Bus or RACB for short.
Details of the Trustees who served throughout the year are included in the Reference and Administrative Details on page 1.
b. Methods of appointment or election of Trustees
The subscribers to the memorandum are the members of the charity. Membership is open to other individuals or organisations who apply to the charity in the form required by the directors and are approved by the directors. The directors may only refuse an application for membership if, acting reasonably and properly, they consider it to be in the best interests of the charity to refuse the application. The directors must inform the applicant in writing of the reasons for the refusal within twenty one days of the decision. The directors must consider any written representations the applicant may make about the decision. The directors' decision following any written representations must be notified to the applicant in writing but shall be final. Membership is not transferrable. The directors must keep a register of names and addresses of the members..
Page 6
(A company limited by guarantee)
RISBOROUGH AREA COMMUNITY BUS
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022
Structure, governance and management (continued)
c. Organisational structure and decision-making policies
Overall control of RACB is exercised by a Board of Directors/Trustees, under the provisions of the Memorandum and Articles of Association of Risborough Area Community Bus. The Board of Directors/Trustees is responsible for setting policy and the overall strategy for RACB and for ensuring RACB meets the legal requirements of Companies House and the Charity Commission.
Management of services is exercised by a Management Committee, currently with 11 members of whom 5 are active drivers. The Management Committee is fully accountable at all times to the RACB Board of Directors/Trustees. The RACB Board of Directors/Trustees has the power to appoint, override, amend, or dismiss the RACB Management Committee.
The Management Committee manages all day-to-day operations including route selection and implementation; bus maintenance; recruitment, selection, training, certification and management of volunteer drivers; scheduling of drivers on service routes, group usage and outings; marketing and publicity for RACB; ensuring that the health & safety of passengers and drivers is maintained at all times to the highest possible standard; liaison with the Community Transport Association (CTA), the Department for Transport (DfT) and the Local Authority to ensure legality and continuity of operation.
The Management Committee manages financial matters including the maintenance of a financial plan; setting, collecting and accounting of cash fares; collection and accounting of cash donations; managing accounts wisely, legally and efficiently; facilitating an annual examination by a “Qualified Person”; managing investments to maximise income whilst minimising risk; ensuring adequate and comprehensive insurance cover for bus and drivers, including personal indemnity cover.
The Management Committee provides administrative functions including the appointment and remuneration of a Coordinator; the appointment and remuneration of an accountant; drawing up an annual Business Plan for consideration by the Board of Directors; maintaining data on bus operations; and planning and execution of meetings.
d. Policies adopted for the induction and training of Trustees
It is desirable that potential Trustees have served on the RACB Management Committee before being selected and then, if applicable, elected as a Trustee by the Board of Trustees. In the majority of cases, Trustees are either current or former RACB volunteer drivers, having been trained to Minibus Drivers Awareness Scheme (MiDAS) standard.
e. Pay policy for key management personnel
The monthly honorarium to the Coordinator was waived until July 2021. All others involved with RACB are unpaid volunteers.
f. Trustees' indemnities
Trustees benefit from indemnity insurance to cover the liability of the trustees which by virtue of any rule of law would otherwise attach to them in respect of any negligence, default or breach of trust or breach of duty of which they may be guilty in relation to the Trust. The cost of this insurance in the year was about £327 (2021: £300).
Page 7
RISBOROUGH AREA COMMUNITY BUS
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022
Structure, governance and management (continued)
g. Plans for future periods
Future Developments
Set against its objective, RACB has achieved a satisfactory performance. RACB continues to provide a highly valued service to the local community, is financially sound and has built a reserve of funds that will stand it in good stead when the time comes to replace the present bus.
RACB has developed strategies that will help address future developments in demography and housing in and around Princes Risborough and continues to enjoy support from Buckinghamshire Council, local parish councils, local businesses, Community Impact Bucks and, most importantly, our passengers by way of their patronage and donations.
Members' liability
Each member of the charitable company undertakes to contribute to the assets of the charitable company in the event of it being wound up while they are a member, or within one year after they cease to be a member, such amount as may be required, not exceeding £10 for the debts and liabilities contracted before they ceased to be a member.
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the company for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgements and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
Page 8
RISBOROUGH AREA COMMUNITY BUS
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022
Statement of Trustees' responsibilities (continued)
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................
Mr R Page
Chairman of Trustees Date: 4 November 2022
Page 9
RISBOROUGH AREA COMMUNITY BUS
(A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2022
Independent examiner's report to the Trustees of Risborough Area Community Bus ('the company')
I report to the charity Trustees on my examination of the accounts of the company for the year ended 5 April 2022.
Responsibilities and basis of report
As the Trustees of the company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner'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:
-
accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting 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 accounts have not been prepared in accordance with the methods and principles 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 102)].
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 accounts to be reached.
This report is made solely to the company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's Trustees as a body, for my work or for this report.
Signed: Dated: 7 November 2022 Bianca Silva BA ACA DChA
MHA MacIntyre Hudson, Building 4, Foundation Park, Roxborough Way, Maidenhead, SL6 3UD
Page 10
RISBOROUGH AREA COMMUNITY BUS
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 5 APRIL 2022
| Note Income from: Donations and legacies 3 Charitable activities 4 Investments 5 Total income Expenditure on: Charitable activities 6 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2022 £ 1,986 34,571 1,141 37,698 28,808 28,808 8,890 213,897 8,890 222,787 |
Total funds 2022 £ 1,986 34,571 1,141 37,698 28,808 28,808 8,890 213,897 8,890 222,787 |
Total funds 2021 £ 5,042 29,349 2,410 36,801 |
|---|---|---|---|
| 14,692 14,692 |
|||
| 22,109 | |||
| 191,788 22,109 213,897 |
The notes on pages 14 to 22 form part of these financial statements.
Page 11
RISBOROUGH AREA COMMUNITY BUS
(A company limited by guarantee) REGISTERED NUMBER: 07150185
BALANCE SHEET AS AT 5 APRIL 2022
| Note Fixed assets Tangible assets 10 Current assets Debtors 11 Investments 12 Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current assets Total assets less current liabilities Net assets excluding pension asset Total net assets Charity funds Restricted funds 14 Unrestricted funds 14 Total funds |
1,906 79,267 141,730 222,903 (2,800) |
2022 £ 2,684 2,684 220,103 222,787 222,787 222,787 - 222,787 222,787 |
970 70,308 145,419 216,697 (2,800) |
2021 £ - |
|---|---|---|---|---|
| - 213,897 |
||||
| 213,897 | ||||
| 213,897 | ||||
| 213,897 | ||||
| - 213,897 |
||||
| 213,897 |
Page 12
RISBOROUGH AREA COMMUNITY BUS
(A company limited by guarantee) REGISTERED NUMBER: 07150185
BALANCE SHEET (CONTINUED) AS AT 5 APRIL 2022
The company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
Mr R Page
Chairman of Trustees Date: 4 November 2022
The notes on pages 14 to 22 form part of these financial statements.
Page 13
RISBOROUGH AREA COMMUNITY BUS
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022
1. General information
The company is a company limited by guarantee. The members of the company are the Trustees named on page 1. The registered office is c/o Hypnos Limited, Longwick Road, Princes Risborough, Buckinghamshire, HP27 9RT.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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) and the Companies Act 2006.
Risborough Area Community Bus meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Going concern
The Trustees assess whether the use of going concern is appropriate, i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the trust to continue as a going concern. The Trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.
2.3 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.
2.4 Income
All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
Page 14
RISBOROUGH AREA COMMUNITY BUS
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022
2. Accounting policies (continued)
2.5 Expenditure
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.
Support costs are those costs incurred directly in support of expenditure on the objects of the company.
2.6 Tangible fixed assets and depreciation
All assets costing more than £500 are capitalised.
A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities incorporating income and expenditure account.
Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Motor vehicles | - 25% straight line |
|---|---|
| Fixtures and fittings | - 25% straight line |
2.7 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the Bank.
2.8 Debtors
Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid.
2.9 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Page 15
(A company limited by guarantee)
RISBOROUGH AREA COMMUNITY BUS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022
2. Accounting policies (continued)
2.10 Liabilities and provisions
Liabilities and provisions are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
2.11 Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Page 16
RISBOROUGH AREA COMMUNITY BUS
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022
3. Income from donations and legacies
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2022 | 2022 | 2021 | |
| £ | £ | £ | |
| Donations and COVID grant | 1,986 | 1,986 | 5,042 |
4. Income from charitable activities
| Unrestricted funds 2022 £ Concessions 25,845 Kimble route/BCC 6,631 Fares 359 Group usage 1,050 Days out 686 34,571 Investment income Unrestricted funds 2022 £ Investment interest receivable 1,141 |
Total funds 2022 £ 25,845 6,631 359 1,050 686 34,571 Total funds 2022 £ 1,141 |
Total funds 2021 £ 20,756 8,470 68 - 55 29,349 |
|---|---|---|
| Total funds 2021 £ 2,410 |
5. Investment income
Page 17
RISBOROUGH AREA COMMUNITY BUS
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022
6. Analysis of expenditure on charitable activities Summary by fund type
| Unrestricted | |||
|---|---|---|---|
| funds | Total | Total | |
| 2022 | 2022 | 2021 | |
| £ | £ | £ | |
| Providing, operating and maintaining transport facilities | 28,808 | 28,808 | 14,692 |
7. Analysis of expenditure by activities
| Providing, operating and maintaining transport facilities Providing, operating and maintaining transport facilities Analysis of direct costs Community bus service |
Activities undertaken directly 2022 £ 21,242 Activities undertaken directly 2021 £ 6,576 Activities 2022 £ 21,242 |
Support costs 2022 £ 7,566 Support costs 2021 £ 8,116 Total funds 2022 £ 21,242 |
Total funds 2022 £ 28,808 |
|---|---|---|---|
| Total funds 2021 £ 14,692 |
|||
| Total funds 2021 £ 6,576 |
Page 18
RISBOROUGH AREA COMMUNITY BUS
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022
7. Analysis of expenditure by activities (continued)
Analysis of support costs
| Depreciation Other support costs Governance costs |
Activities 2022 £ 384 3,216 3,966 7,566 |
Total funds 2022 £ 384 3,216 3,966 7,566 |
Total funds 2021 £ - 3,803 4,313 8,116 |
|---|---|---|---|
8. Independent examiner's remuneration
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Fees payable to the company's independent examiner for the independent | ||
| examination of the company's annual accounts | 2,075 | 2,300 |
| Fees payable to the company's independent examiner in respect of: | ||
| All other services not included above | 1,890 | 2,013 |
9. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2021 - £NIL) .
During the year ended 5 April 2022, no Trustee expenses have been incurred (2021 - £NIL) .
Page 19
(A company limited by guarantee)
RISBOROUGH AREA COMMUNITY BUS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022
10. Tangible fixed assets
| Cost or valuation At 6 April 2021 Additions Disposals At 5 April 2022 Depreciation At 6 April 2021 Charge for the year On disposals At 5 April 2022 Net book value At 5 April 2022 At 5 April 2021 11. Debtors Due within one year Other debtors Prepayments and accrued income |
Motor vehicles £ 85,670 - - 85,670 85,670 - - 85,670 - - |
Fixtures and fittings £ 2,549 3,068 (1,266) 4,351 2,549 384 (1,266) 1,667 2,684 - 2022 £ 1,050 856 1,906 |
Total £ 88,219 3,068 (1,266) 90,021 88,219 384 (1,266) 87,337 2,684 - 2021 £ 499 471 970 |
|---|---|---|---|
Page 20
(A company limited by guarantee)
RISBOROUGH AREA COMMUNITY BUS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022
12. Current asset investments
| Fixed interest accounts 13. Creditors: Amounts falling due within one year Accruals and deferred income 14. Statement of funds Statement of funds - current year Balance at 6 April 2021 £ Unrestricted funds General Funds - all funds 213,897 Statement of funds - prior year Balance at 1 April 2020 £ Unrestricted funds Unrestricted Fund 191,788 |
Income £ 37,698 Income £ 36,801 |
2022 £ 79,267 2022 £ 2,800 Expenditure £ (28,808) Expenditure £ (14,692) |
2021 £ 70,308 |
|---|---|---|---|
| 2021 £ 2,800 |
|||
| Balance at 5 April 2022 £ 222,787 |
|||
| Balance at 5 April 2021 £ 213,897 |
Page 21
(A company limited by guarantee)
RISBOROUGH AREA COMMUNITY BUS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022
15. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Unrestricted funds 2022 £ Tangible fixed assets 2,684 Current assets 222,903 Creditors due within one year (2,800) Total 222,787 Analysis of net assets between funds - prior year Unrestricted funds 2021 £ Current assets 216,697 Creditors due within one year (2,800) Total 213,897 |
Total funds 2022 £ 2,684 222,903 (2,800) 222,787 Total funds 2021 £ 216,697 (2,800) 213,897 |
|---|---|
16. Related party transactions
There were no related party transactions during the year (2021: none).
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