Dolvll En¥elope10.' F94cs22w182-B87E47t REGISTERED COMPANY NUMBER: I(2834 IEn8land and Wale51 REGISTERED CHARITY NUMBER: 1171312 Report of the Trustees and Unaudrled FThncial Stateme*01 the Year Ended 31 March 2024 stsrtermotor Llmited IA Compary Limrted Guarantee)
Doujsgn £nOpe I. F94c$262EAf82-867E4W7l Startermotor Lirnited Contents of the Hnanclal 5tstements forthe Year Ended 31 Marth 2024 Report of the Trustees Independent Examiner's Rep)rt Statement of Financial Acbvities Balance Sheet 4t05 Note5to the FinawKial Statements 6toll
startermotor timited Report of the Trustees for the Year Ended 31 Marth 2024 The trustees who are also directors of the Charity for the purposes of the Comp3nie% Act 21K)6, present their rèport with the financial statements of the Charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and R@p¢Trrting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK ènd Republit of Iland IFRS 1021 (effective I January 20191. OBJECTIVES AND AcfiviTIES Startermotor Limited's primary objective is to assist a younger generation to find careers in the classic and historic car sector. The Charity has recruited a group of young volunteers. known as Ambassadors. who are the fa of the Startermotor and represent the Charity at shows and èvents. Aged between 14 and 24, they are part of the 'Gen-r cohort that the Charity targets through schools. recruitment and maiketin8 activity. Ambassadors are given access to drive classic and historic cars, key benefit of their 3550Clation with the Charity and part of the pro5$ to inspire and motivate them to be active members of the'old carf eomrnunity. The collective historic vehicle sector is SFÉnificant. worth over £18bn annually to the UK'S economy, and it employs more than 20,000 people across a wide ran8e of professions. However, the workforce is a8ein& presentinE and existential threat to its longevitv. The Charity 15 highly active in addiessing this challenge head4)n. In the peiiod of this report, StarterMotOT has provided over 300 unique driving experiences in its 12-car fleet of classics- run or attended 14 national events represented by its 26 Ambassadors.. presented to 1,41K) pupils at its careers days- directly interacted with more than 2.0()0 students demonstrating how to access the sector,. and hosted more than 5.51Kl under sixteens at Bicester Heritagè Scrambles èvents. In the next year there will be a heightened focus on sth0015' recruitment both in terms of engagements. and optimisinE of the process to identrfy students who are committed to explore career opportunities in the sector. This is having a measurable effect on the interest of young people in historic ¢ars throughout the UK with application5 for jobs, participation in events and the appreciation of historic cars growing. StRucfuRE, GOVERNANCE ANO MANAGEMEIIT Governing document The charity is controlled by its governing document, a deed of trust. and constitutes a limited company, limited by guarantee. as dÈfined by the Companies Att 26. REFERENCE AND ADMINisfRATIVE DAlls Registered Company number I62834 (England and Wales) Reglsteod Charity number 1171312 2 Pavilion Court 600 Pavilion DrNe Northampton NN4 7SL Trustees D l GeoEhegan (Businessman) D Bennion Isolicitorl Approved by or oft ard of trust on Dmber ITr. 2024 and signed on its behalf by.. D J Geoghegan- airman. Board of Trus Page I
Doojsign ErtveknFe ID.. F94c52Bo4[XMl82-B87AE45I IndepeFNlent Examinerfs Rewrtto theTru5Èees of Startermotor timited Indepertdent èxaminerf5 Fepcrtto the t of Startermotor Limrted {'the Compan} I report to the charity trustees on my examination ofthe accounts of the Company for the yearended 31 March 2024. Responsibilities and basis of report As the charity's trustees of the Company land also its directors for the purposes of company lawl you responsible ft)r the preparation of the accounts in accordan wath the requirements of the Companies Att 261'the 2LMJ6 Act'l. Having sat15fied myself that the accounts of the Company are not requi to be audtted under Part 16 of the 20Ckn Act and are eligible for independent examination. I report in respert of my examination of your charity's accounts 3$ carried out under Section 145 of the Charities Art 20111.the 2011 Art'l. In carrying out my examination I have followed the Directions given by the Charity Commission under Sertion 145151 Ibl of the 2011 ACL Independent examiner's statement I have completed my examination. I confirm that no matters have come to my attention in connecknon wtth the examination giving me cause to believe- accounting records were not kept in respect of the Company a5 required by Sertion 386 of the 2(K)6 Act- or the accounts do not accord with those records.. or the accounts do not corrtply wtth the accounting requirements of Section 396 of the 2(X)6 Act other than any requirement that the accounts give a true and fair view whith É5 not a rnatter considwed 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 lor accounting and reporting by ch3ritie5 (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard apicable in the UK and Republic of Ireland IFRS 10211. I have no concerns and have come across rK) other matters in connection with the examination to which attention should be drawn in this report to enable a proper understanding of the accounts to be reached. FFEEE57A9s¢lO Sarah Buswell FCA Harris & Co Chartered Accountants 2 Pavilion Court 6(Kl Pavilion Drive Northampton NN47SL 24/12/2024 Date.. Page 2
Dow5yn Envdope ID.. F94cs262Boml82-E87AE471 Startermotor Limited Statement of Flnandal Actl¥ities for the Year Ended 31 March 2024 2024 Unrestricted fvnd 2023 Total fvnds Notes INCOME AND ENDOWMEpif5 FROM Donètions and legacies 132.886 138,373 Investment income Other income 156 4.560 Totsl I33.(2 142.933 EXPENDITURE ON Charitable a¢tlvltles Support C95ts 118.514 136.817 NINcOmE 14528 6.116 RECONCILIATION OF FUNDS Total funds brought forward 87,282 81.166 TOTAL FUNDS CARRIED FORWARD 101.810 87.282 The notes forni part of these financial statements Page 3
Dorxjsign En*bpe II>. F94CSW2B04-4CKXM182-B87AE4536871 stsrtermotor Limited Balance Sheet 31 March 2024 2024 Unrestricted fvnd 2023 Totsl funds Notes FIXED ASSETS Tangtble assets 81.125 81.112 CURRENT ASSErs Debtors Cash at bank 360 6.878 23.881 24.241 7,238 CREDITORS Amounts falling due within one year 13,5561 Ii,(KJ81 NET CURRENT ASSErs 20,685 6,170 TOTALASSETS LESS CUIIRENT UNBIUTIES lo110 87.282 NET $SET5 lo110 87,282 FUNDS Unrestrirted funds io 101,810 87,282 TOTAL FUNDS 101.810 87.282 The charitable company is entiVed to exemption from audit under Settion 477 of the Companie5 Act 2(K)6 for the year ended 31 March 2024. The membets have not require(I the company to obtarn an audit of its financial statements for the year ended 31 March 2024 in accordance wtth Section 476 of the CompaTrtes Act 2(. The tru5tee5 acknowledge thr responsibilibes fof ensuring that the chatwtable company keep5 accounting rerords that cornp with Sections 386 and 387 of the Companies Act 2(K16 and preparing financial statements which give a true and fair vw of the stste of affarF5 of the diarItab company as at the end of each financial year and of tt5 5urplu5 or defictt for each ftnancial year in accordance with the requirements of Settion5 394 and 395 and which otherwtse compfy wtih the requirefflents of the Companies Act 2006 lating to finanual ststements. so far as applicable to the charit3ble company. Ibl The notes fom) part ofthe5e finanoal ststements Page 4 continued...
Startermotor Limited Balance Sheet- contlnued 31 March 2024 These financial statement5 have been prepared in aCCOfdance with the provisions applicable to charitable companies 5ubjert to the small companies regime. The financial statèmÈnt5 were approved by the Board o* Trustees and authorised for issue on ... nd were Signe ehalf by- D J Geoghe Chairman. Board o ustees The note5 form part of these financial 5tsternents Pages
Envdope ID.. F94cS22Bo44ENIw2-BB7AE453687l Startermotor Limited Notes to the Finanaal Statements forthe Year Ended 31 March 2024 ACCOUNTING POUCIES 8asi5 of preparin8the finanoal ststements The fnancial statements of the charitsble company. which is a public benefft entity under FRS 102. have been prepared in accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.- statement of Recommended Practice applicable to charities preparing their accounts in accordance wth the Frnancial Reporting Standard applicable in the UK and Republic of Iland IFRS 1021 (effective l January 20191.. Frnanci31 Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companes Act 2006. The financial statements have been pPared under the histori131 c05t convention. Income All income ts recognised in the Ststement of Financial Activitie5 once the chartty ha5 entttlement to the funds. it IS probable thatthe income will be received and the amount can be measured reliabty. Expenditure Liabilities are recogni5ed as expendIre as on as there is a legal or constructive oblatiOn commttting the thartty to that expenditure, it is probable that a travt5fei of economic nefft5 wll be required in settlement and the amount of the obligation can be measured reliably. Expend[ is accounted for on an accruals basi5 and has been classified under headings thèt aggregate all cost related to the category. Where costs cannot be directty attributed tts particular headings they have been allocated to actiwties on a basis consÈ5tentI the use of resources. T3ible ftxed assets Depreciation ts provided at the followng annual rate5 in order to write off each asset over its estimated useful life. Plant and machinery Motor vehicles IO% on reducing balan No deprectation In the opinion of the directors. the ¥ehKJe assets land certain other a55ets of an historical nature) are of an apprectating nature and the residual value 15 expected to be greater than the cost or donated value. As a resulL no depreciation t5 provided for on these assets in the finanaal staternents. DoTrated assets are capitslised at the estrmated marketyalue. Loan vehicles Where supporters of the charity loan vehides to it for 3 period of time. these vehides are not capitslised as a fixed asset a5 the vehicles have to be returned to their owners at the ertd of the loan term. Taxation The charity is exempt from corporation tax on 115 Charitse activitie Fund accourtin8 Unrestricted funds can be used in accordan with the dmritable obiectFve5 atthe discretion of the trustees. Re5trtcted funds can only be used for particular rericted purposes wtthin the objerts of the charity. Restrictio arise when specified by the donor or when fuThls are raised for particular restricted purposes. Fvrther explanation ofthe nare and purpose of each fd is induded in the note5 to the financial statements. pens1 costs and other post-retirement benefft5 The charitable company operates a defined contrÉbubon pension stheme. Contributions payèble to the charitable company's pension scheme a charged to the Statement of Financial Activtties in the peri¢xl to wthich they relate. Page 6 continued...
Docws%Jn Envetope ID.. F94cs22B0HDfxAl82-887AE4S3681l Startermotor Limited Notes to the Finanual Statements- continued forthe Year Ended 31 March 2024 ACCOUTrrnNG POUCIES. continued Donated goods and ser¥J Where donated good5 and servi are consumed by the charity in the furtherance of its chaTitable objethves. the market value of the donated good5 and Services is induded in both donations received and the appropriate cost heading. INVEsfMENT114COME 2024 2023 Deposit account rnterest 156 NETINCOME Net income is stated after chargiFyJlcredtling).' 2024 2023 Oepreciation- owned aets Surplus on dfjsposal of fixed assets 37 14,5601 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees. remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees, expenses There were no trustees. expenses paid for the year ended 31 March 2024 nor forthe year ended 31 March 2023. STAFF COST5 The average monthty number of employees during the year was as fdlows: 2024 2023 No employee5 received emoluments in excess of £60.CKQ. Page 7 continued...
Docuwgn En¥eW ID". F94c526po4-4fxMl82-B87AE451 StartÈrMotor Llmited Notes tothe Financial 5tstements- tontinued for the Year Ended 31 March 2024 COMPARATIVES FOR THESTATEMENTOF FINANCIALACTMTIES Unrestricted fund INCOME AND ENDOWME1$ FROM Donations and legacies 132.886 Investment income 156 Total 133,042 EXPENDITURE ON Charotable acthvhties Support costs 118,514 NEf INCOME 14,528 RECONCILIATION OF FUNDS Totèl funds brought forward 87.282 TOTAL FUNDS CARRIED FORWARD 101.810 TANGIBLE FIXED ASSEfs Plant and machinery Motor vehicles Totsls COST At l April 2023 Additions At 31 March 2024 853 so 80.5LW) 81.353 50 81,403 80.500 DEPRECIATION At l April 2023 Charge fo¥ the yea At 31 March 2024 241 37 278 241 37 278 NETBOOKVALUE At 31 March 2024 625 81,125 At 31 March 2023 612 80.5 81.112 Page 8 continued...
Oow5pJn EnOpe lfr. F94C5262t1w2-887AE47l Stsrtermotor Limited Notes tothe Firhancial Strternents- continued for the Year Ended 31 Marth 2024 DEBTORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2024 2023 Other debtors 360 CREDITORS: AMOUNT5 FALUNG DUE wrrHIN ONE YEAR 2024 2023 Trade creditors Social security and other taxes Pension payable Accruals and deferred income 1.697 313 iii 308 761 3,556 1,068 io. MOVEMENT IN FUNDS Net movement in funds At 3V3124 At 114123 Unrestricted fvnds General fund 87,282 14.528 101.810 TOTAL FUNDS 87,282 14.528 101.810 Net movefflent in fund5. included in the above are as follows: Incomir Resources expended Movement funds our Unrestritted funds General fund 133.042 1118.5141 14.528 TOTAL FUNDS 133,042 1118.5141 14,528 Comparatfves for movement in lunds Net movement in funds At 3113123 At 114122 Unrestri¢ted fvnd5 General fut7d 81.166 6.116 87.282 TOTAL FUND5 81.166 6.116 87.282 Page 9 continued...
Startermotor Limited Notes to the Financial Statémènts- tontinued for the Year Ended 31 Marth 2024 io. MOVEMENT IN FUNDS- continued Comparative net M0venlt in funds, included in the above are as follows: Incoming resources Resources expended Movement in fund5 Unrestrlcted fub)ds General fund 142,933 1136,8171 6.116 TOTAL FUNDS 142,933 1136,8171 6.116 A turrentyear 12 months and prioryear 12 months combined posityon is as tollov•S: Net movement in fvnds At 3V3124 At 114122 Unrestrlrted funds General fund 81.166 20,644 101.810 TOTAL FUNDS 81,166 20.644 101.810 A current year 12 months and prior year 12 months combined net movement in funds. included in the above are as follows-. Incoming resources Movement in funds expended Unrestricted funds General fund 275.975 1255.3311 20,644 TOTAL FUNDS 275.975 1255.3311 20,644 Page 10 continued...
Envek)pe ID.. F94¢s2628o44OWl-B87AE453687l Startermotor Limlted Notes to the Flnancial Statements- continued for the Year Ended 31 March 2024 ii. RELATED PARTY DISCLOSURE5 The charity benefited from various donated Set5 frorn some of the Tnjstees during the yeaT. and in the previous year. This page does not fomi part of the Ststory finanual staternents Page 11