``` 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`** ``` 1171312 ``` ## **`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 ```