2021-03-31-accounts - Startermotor Limited

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REGISTERED COMPANY NUMBER: 10062834 (England and Wales)
REGISTERED CHARITY NUMBER: 1171312

`Report of the Trustees and`

Unaudited Financial Statements for the Year Ended 31 March 2021

for

`Startermotor Limited`

(A Company Limited by Guarantee)

Startermotor Limited

Contents of the Financial Statements
for the Year Ended 31 March 2021

	`Page`
`Report of the Trustees`	`1 to 2`
`Independent Examiner's Report`	`3`
`Statement of Financial Activities`	`4`
`Balance Sheet`	`5 to 6`
`Notes to the Financial Statements`	`7 to 12`
`Detailed Statement of Financial Activities`	`13 to 14`

Startermotor Limited

`Report of the Trustees for the Year Ended 31 March 2021`

ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006, present
theirreportwiththefinancialstatementsofthecharityfortheyearended31March2021.The trustees
haveadoptedtheprovisionsofAccountingandReportingbyCharities:Statementof Recommended
PracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancial Reporting
Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

`OBJECTIVES AND ACTIVITIES`

`Objectives and aims`

TheStartermotorLimited,isuniqueasacharityineducatingyoungpeopleinboththeuse and
maintenanceofhistoricvehicles.Weworkinpartnershipwithcolleges,apprenticeshipsand likeminded
companiesallwiththeaimofprovidinghistoricalvehicleaccesstoyoungenthusiasts,giving the
opportunity to drive, maintain and experience our motoring heritage.

Thecollectivehistoricvehiclesectorhas experiencedrapidgrowthin recentyears:it is nowthoughtto be
worth over £5bn annually to the UK's economy, and it employs some 34,900 people.

However,whilstexpanding,itisalsoageing,resultinginayoungergenerationmissingoutonboth the
valuableskillsrequiredandalsohistoricvehicleownership,particularlyascostsofownershipcan be
outsidethereachofmanyyoungenthusiasts.1,000newengineersareestimatedtoberequiredover the
next5 yearsjusttostemthiserosion.Thenetresultis a realpossibilityofvaluableskillsbeinglost,to the
detriment of the industry, economy, employment and historic car enthusiasts.

Wearecontinuallyencouragingcompaniestotakeonapprenticesandcollegestoruncourses.And that's
working.Buttolearntorestorea vehicleyouneeda vehicletorestore.And thepartsandtoolstodo the
job.Currentlytheydon'texist.StartermotorLimitedisacharitythatexiststofulfilthatneedand to
assemble a collection of vehicles that young people can use and enjoy.

`STRUCTURE, GOVERNANCE AND MANAGEMENT`

`Governing document`

Thecharityiscontrolledbyitsgoverningdocument,adeedoftrust,andconstitutesalimited company,
limited by guarantee, as defined by the Companies Act 2006.

`REFERENCE AND ADMINISTRATIVE DETAILS`

`Registered Company number`

10062834 (England and Wales)

`Registered Charity number`

`Registered office`

2 Pavilion Court
600 Pavilion Drive
Northampton
NN4 7SL

Page 1

Startermotor Limited

`Report of the Trustees`

for the Year Ended 31 March 2021

`Trustees`

D J Ellison Businessman (resigned 15/2/2021)

D J Geoghegan Businessman
P J Harris BA BFP FCA Businessman
A Shooter Businessman
D Bennion Businessman (appointed 7/12/2020)

Approved by order of the board of trustees on 16 September 2021 and signed on its behalf by:

A Shooter - Trustee

Page 2

Independent Examiner's Report to the Trustees of
Startermotor Limited

`Independent examiner's report to the trustees of Startermotor Limited ('the Company')`

IreporttothecharitytrusteesonmyexaminationoftheaccountsoftheCompanyfortheyear ended
31 March 2021.

`Responsibilities and basis of report`

Asthecharity'strusteesoftheCompany(andalsoitsdirectorsforthepurposesofcompanylaw)you are
responsiblefor the preparationof the accountsin accordancewith the requirementsof the Companies Act
2006 ('the 2006 Act').

HavingsatisfiedmyselfthattheaccountsoftheCompanyarenotrequiredtobe auditedunderPart16 of
the2006Actandareeligibleforindependentexamination,Ireportinrespectofmyexaminationof your
charity'saccountsascarriedoutundersection145oftheCharitiesAct2011('the2011Act').In carrying
outmyexaminationI havefollowedtheDirectionsgivenbytheCharityCommissionundersection 145(5)
(b) of the 2011 Act.

`Independent examiner's statement`

I have completedmy examination.I confirmthat no mattershave come to my attentionin connection with
the examination giving me cause to believe:

1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

2. the accounts do not accord with those records; or

3. 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

4. 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)).

Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationto which
attentionshouldbedrawninthisreportinordertoenableaproperunderstandingoftheaccountsto be
reached.

S Buswell
FCA

16 September 2021

Page 3

`Startermotor Limited`

`Statement of Financial Activities`

`for the Year Ended 31 March 2021`

`2021` `Unrestricted` `fund` `Notes` `£` `INCOME AND ENDOWMENTS FROM` `Donations and legacies` `53,572` `Charitable activities` `Support costs` `22,269` `Total` `75,841` `EXPENDITURE ON` `Raising funds` `1,710` `Charitable activities` `Promotion of the charity` `(1)` `Support costs` `75,096` `Total` `76,805` `NET INCOME/(EXPENDITURE)` `(964)` `RECONCILIATION OF FUNDS` `Total funds brought forward` `53,691` `TOTAL FUNDS CARRIED FORWARD` `52,727`	`2020` `Total` `funds` `£` `44,169` `-`
	`44,169` `-` `-` `40,126`
	`40,126`
	`4,043` `49,648`
	`53,691`

The notes form part of these financial statements

Page 4

Startermotor Limited

`Balance Sheet`

`31 March 2021`

2021
Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
5
34,982
CURRENT ASSETS
Debtors
6
360
Cash at bank
17,385
17,745
CREDITORS
Amounts falling due within one year
7
-
NET CURRENT ASSETS
17,745
TOTAL ASSETS LESS CURRENT LIABILITIES
52,727
NET ASSETS
52,727
FUNDS
8
Unrestricted funds
52,727
TOTAL FUNDS
52,727 2020
Total
funds
£
29,043
3,510
21,395
24,905
(257)
24,648
53,691
53,691
53,691
53,691

The charitablecompanyis entitledto exemptionfromauditunderSection477of the CompaniesAct 2006
for the year ended 31 March 2021.

Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsforthe year
ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

The notes form part of these financial statements

continued...

Page 5

`Startermotor Limited`

`Balance Sheet - continued`

`31 March 2021`

Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicableto charitable
companies subject to the small companies regime.

ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
16 September 2021 and were signed on its behalf by:

A Shooter - Trustee

The notes form part of these financial statements

Page 6

Startermotor Limited

Notes to the Financial Statements
for the Year Ended 31 March 2021

`1. ACCOUNTING POLICIES`

`Basis of preparing the financial statements`

Thefinancialstatementsofthecharitablecompany,whichis a publicbenefitentityunderFRS 102,
havebeenpreparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReporting by
Charities:StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccounts in
accordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland (FRS
102)(effective1 January2019)',FinancialReportingStandard102'The FinancialReporting Standard
applicablein theUK andRepublicofIreland'andtheCompaniesAct2006.Thefinancial statements
have been prepared under the historical cost convention.

`Income`

Allincomeis recognisedin theStatementofFinancialActivitiesoncethecharityhasentitlement to
the funds, it is probable that the income will be received and the amount can be measured reliably.

`Expenditure`

Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation
committingthe charityto that expenditure,it is probablethat a transferof economicbenefitswill  be
requiredinsettlementandtheamountoftheobligationcanbemeasuredreliably.Expenditure is
accountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregateall cost
relatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadingsthey have
been allocated to activities on a basis consistent with the use of resources.

`Tangible fixed assets`

Depreciationisprovidedatthefollowingannualratesinordertowriteoffeachassetover its
estimated useful life.

Plant and machinery- 10% on reducing balance
Motor vehicles- No depreciation

Intheopinionofthedirectors,thevehicleassets(andcertainotherassetsofanhistorical nature)
areofanappreciatingnatureandtheresidualvalueisexpectedtobegreaterthanthecost or
donatedvalue.Asaresult,nodepreciationisprovidedforontheseassetsinthe financial
statements.

Donated assets are capitalised at the estimated market value.

`Loan vehicles`

Wheresupportersofthecharityloanvehiclestoitforaperiodoftime,thesevehiclesare not
capitalisedas a fixed asset as the vehicleshave to be returnedto their ownersat the end of the loan
term.

`Taxation`

The charity is exempt from corporation tax on its charitable activities.

`Fund accounting`

Unrestrictedfundscanbe usedin accordancewiththecharitableobjectivesat thediscretionof the
trustees.

continued...

Page 7

Startermotor Limited

Notes to the Financial Statements - continued
for the Year Ended 31 March 2021

`1. ACCOUNTING POLICIES - continued`

`Fund accounting`

Restrictedfunds can only be used for particularrestrictedpurposeswithin the objectsof the charity.
Restrictionsarisewhenspecifiedbythedonororwhenfundsareraisedforparticular restricted
purposes.

Furtherexplanationofthenatureandpurposeofeachfundis includedin thenotestothe financial
statements.

`Pension costs and other post-retirement benefits`

The charitablecompanyoperatesa definedcontributionpensionscheme.Contributionspayable to
the charitablecompany'spensionschemeare chargedto the Statementof FinancialActivitiesin  the
period to which they relate.

`2. NET INCOME/(EXPENDITURE)`

Net income/(expenditure) is stated after charging/(crediting):

	`2021`	`2020`
	`£`	`£`
`Depreciation - owned assets`	`61`	`60`

`3. TRUSTEES' REMUNERATION AND BENEFITS`

Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2021nor for
the year ended 31 March 2020.

`Trustees' expenses`

Therewerenotrustees'expensespaidfortheyearended31March2021norfortheyear ended
31 March 2020.

continued...

Page 8

Startermotor Limited

Notes to the Financial Statements - continued
for the Year Ended 31 March 2021

`4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`

	`Unrestricte`
	`fund`
	`£`
`INCOME AND ENDOWMENTS FROM`
`Donations and legacies`	`44,169`
`EXPENDITURE ON`
`Charitable activities`
`Support costs`	`40,126`
`NET INCOME`	`4,043`
`RECONCILIATION OF FUNDS`
`Total funds brought forward`	`49,648`
`TOTAL FUNDS CARRIED FORWARD`	`53,691`

`5. TANGIBLE FIXED ASSETS`

`Plant and` `machinery` `£` `COST` `At 1 April 2020` `853` `Additions` `-` `Disposals` `-` `At 31 March 2021` `853` `DEPRECIATION` `At 1 April 2020` `60` `Charge for year` `61` `At 31 March 2021` `121` `NET BOOK VALUE` `At 31 March 2021` `732` `At 31 March 2020` `793`	`Motor` `vehicles` `£` `28,250` `9,000` `(3,000)` `34,250` `-` `-` `-` `34,250` `28,250`	`Totals` `£` `29,103` `9,000` `(3,000)` `35,103` `60` `61` `121` `34,982` `29,043`

continued...

Page 9

Startermotor Limited

Notes to the Financial Statements - continued
for the Year Ended 31 March 2021

`6.`	`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`
			`2021`		`2020`
			`£`		`£`
	`Other debtors`		`360`		`3,510`
`7.`	`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`
			`2021`		`2020`
			`£`		`£`
	`Trade creditors`			`-`	`1`
	`Pension payable`			`-`	`256`
				`-`	`257`
`8.`	`MOVEMENT IN FUNDS`
			`Net`
			`movement`		`At`
		`At 1/4/20`	`in funds`		`31/3/21`
		`£`	`£`		`£`
	`Unrestricted funds`
	`General fund`	`53,691`	`(964)`		`52,727`
	`TOTAL FUNDS`	`53,691`	`(964)`		`52,727`

Net movement in funds, included in the above are as follows:

	`Incoming`	`Resources`	`Movement`
	`resources`	`expended`	`in funds`
	`£`	`£`	`£`
`Unrestricted funds`
`General fund`	`75,841`	`(76,805)`	`(964)`
`TOTAL FUNDS`	`75,841`	`(76,805)`	`(964)`

continued...

Page 10

Startermotor Limited

Notes to the Financial Statements - continued
for the Year Ended 31 March 2021

`8. MOVEMENT IN FUNDS - continued`

`Comparatives for movement in funds`

		`Net`
		`movement`	`At`
	`At 1/4/19`	`in funds`	`31/3/20`
	`£`	`£`	`£`
`Unrestricted funds`
`General fund`	`49,648`	`4,043`	`53,691`
`TOTAL FUNDS`	`49,648`	`4,043`	`53,691`

Comparative net movement in funds, included in the above are as follows:

	`Incoming`	`Resources`	`Movement`
	`resources`	`expended`	`in funds`
	`£`	`£`	`£`
`Unrestricted funds`
`General fund`	`44,169`	`(40,126)`	`4,043`
`TOTAL FUNDS`	`44,169`	`(40,126)`	`4,043`

A current year 12 months and prior year 12 months combined position is as follows:

		`Net`
		`movement`	`At`
	`At 1/4/19`	`in funds`	`31/3/21`
	`£`	`£`	`£`
`Unrestricted funds`
`General fund`	`49,648`	`3,079`	`52,727`
`TOTAL FUNDS`	`49,648`	`3,079`	`52,727`

continued...

Page 11

Startermotor Limited

Notes to the Financial Statements - continued
for the Year Ended 31 March 2021

`8. MOVEMENT IN FUNDS - continued`

Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,included in
the above are as follows:

	`Incoming`	`Resources`	`Movement`
	`resources`	`expended`	`in funds`
	`£`	`£`	`£`
`Unrestricted funds`
`General fund`	`120,010`	`(116,931)`	`3,079`
`TOTAL FUNDS`	`120,010`	`(116,931)`	`3,079`

`9. RELATED PARTY DISCLOSURES`

There were no related party transactions for the year ended 31 March 2021.

Page 12

`Startermotor Limited`

`Detailed Statement of Financial Activities for the Year Ended 31 March 2021`

`INCOME AND ENDOWMENTS` `Donations and legacies` `Donations` `Charitable activities` `Grants` `Total incoming resources` `EXPENDITURE` `Raising donations and legacies` `Fundraising Costs` `Charitable activities` `Events costs` `Advertising` `Polski Fiat costs` `Car running costs and travel` `Depreciation of tangible fixed assets` `Support costs` `Management` `Wages` `Social security` `Pensions` `Postage and stationery` `Sundries` `Finance` `Bank charges` `Governance costs` `Insurance` `Carried forward`	`2021` `£` `53,572` `22,269` `75,841` `1,710` `-` `-` `250` `2,957` `60` `3,267` `65,700` `3,758` `1,313` `-` `-` `70,771` `25` `393` `393`	`2020` `£` `44,169` `-`
		`44,169` `-` `1,101` `353` `2,135` `1,908` `60`
		`5,557` `32,500` `890` `329` `135` `190`
		`34,044` `86` `358` `358`

This page does not form part of the statutory financial statements

Page 13

`Startermotor Limited`

`Detailed Statement of Financial Activities`

`for the Year Ended 31 March 2021`

`Governance costs` `Brought forward` `Accountancy and legal fees` `Subscriptions` `Bank charges` `Total resources expended` `Net (expenditure)/income`	`2021` `£` `393` `13` `323` `303` `1,032` `76,805` `(964)`	`2020` `£` `358` `13` `-` `68`
		`439`
		`40,126`
		`4,043`

This page does not form part of the statutory financial statements

Page 14