2025-03-31-accounts - Chatterbus CIO

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Chatterbus CIO

Charity Number 1173907

Financial Statements for the year to 31[st] March 2025

	Page
Chairman’s Statement and Trustee	2
Report
Independent Examiner’s Report	5
Statement of Financial Activities	6
Balance Sheet	7
Notes to the Financial Statements	8

Chatterbus CIO

Charity Number 1173907

Chairman’s Statement and Trustee Report for the year to 31[st] March 2025

The Chatterbus has been operating the C1 and the C2 services for ten years in and around Cobham.

The C3 service was started in 2022 to provide better flexibility/ regularity and to allow us to expand our school bus service. The running of the C3 cross-benefits the existing services by:

Increased revenues to support other routes,
Increased reliability and utility to passengers, and
Expansion to cover essential local amenities such as the Cobham Health centre which was previously very poorly served by public transport.

Bus fare revenues have increased compared to last year by 13% to £116,315, predominantly due higher passenger numbers and prices. The Cobham Free School service from Oxshott and Stoke D’Abernon to the school remains an important part of our offering.

Our donors and sponsors continue to be generous, with £207,283 (£73,069) donated in the year, a 108% increase. This increase is driven primarily by £134k donation from Surrey to support the electrification of our buses as well as £20k from Elmbridge to support ongoing bus leasing costs. We are indebted to all our current sponsors and greatly appreciate their support. I’d also like to thank our two local authorities, Elmbridge and Surrey for both their financial contributions and their confidence in us.

The bus operating costs were higher compared to prior year (£340,991 vs 177,422 in 2024). Excluding the cost of the electric bus (134k), costs have increased by 17%.

Our net loss of £17,394 (vs PY loss of £1,040) for the year ended March 2025 means that our reserves now stand at £5,827 (PY: £23,221). Our reserves remain important to cope with extraordinary and unforeseen events such as the pandemic – we hope to generate larger surpluses next year to provide a larger contingency fund for future unforeseen events or expansions.

The ticket machines provide detailed information on passenger needs and we have amended our timetables accordingly. Combined with the second bus the service is now more regular and useful for passengers. Our drivers continue to provide excellent customer service and as the public face of the Chatterbus they are key to the Chatterbus’ friendly and punctual service, and I should like to take this opportunity to thank them for their commitment to our service and our values. As well as our drivers, I should like to thank the team at East Surrey Rural Transport Partnership, led by Marcus Dode its CEO, for the excellent service they provide for us and for their flexibility.

As a charity we are very conscious of our commitment to the local community and in 2019 we launched our own Chatterbus Concession card. This is for those passengers who wish to use the bus but cannot afford the fares and who are not eligible for existing Government or local authority concessions. In response to the

war in Ukraine, we extended these concession cards to cover Ukrainian refugees to support their integration into our communities. Some 5% of passenger journeys have been taken using this concession over that period and I should like to thank the Cobham Foodbank and our local churches for their help in this initiative.

Support from local community organisations is especially important to us, the Cobham and Downside Residents Association and Cobham Garden Club have supported us, and we thank them. Contributions from these organisations and others went to fund the bus and the concession scheme.

I should also like to thank all our business supporters whether they advertise inside or outside the bus or just give us donations to “keep the wheels of the bus going round”.

I should like to thank all the volunteers, and all those generous friends and members of the public who have donated to the charity throughout the year. I should also like to thank all our Board of Directors who give of their time selflessly to make this Bus service so successful.

The need to always find new sponsors and advertisers and our other risks including operational risks are considered regularly by our Risk Committee which reports to our Board at its appropriate quarterly meetings.

Looking forward to next year, with the help and support of Surrey County Council and Elmbridge Borough Council we will be operating a fully electric bus – to meet the ongoing and pressing need for our society to tread more lightly on the world. Public transport is a more sustainable way of travelling and we believe the buses will add to the contribution that the Chatterbus makes in this arena but also be more attractive to a wider group of users.

Sir Gerald Acher CBE LVO Chairman

Constitution and governance

The Charity is set up as a Charitable Incorporated Organisation (CIO) under a CIO Foundation Trust Deed registered on 24 July 2017.

The purpose of the charity is to provide transport facilities in North Surrey and surrounding area for people who have special need of such facilities because they are elderly, poor or disabled, people with young children or those living in isolated areas where there are no adequate public transport facilities.

The Chatterbus CIO is aiming to build up reserves to maintain an uninterrupted service for its beneficiaries and has net assets at the 31st March 2024 of £23,221. Supporters of the Chatterbus have committed funds for several years. However, the charity is also reliant on fundraising and short-term grants from sponsors.

The Trustee Board members are all volunteers and new Trustee Board members are approved by the existing Board. The Board are aware of and have due regard to the guidance issued by the Charity Commission on public benefit. The Board and other volunteers contribute to the marketing, timetables and general administration of the Chatterbus including oversight of the bus operator.

Trustee Board

Sir Gerald Acher CBE LVO Lady Joyce Acher Leonard Beighton Clare Briscoe Watt Andrew Burley Susan Graves Jane Halliwell John Kingston David Lewis Katerina Lusk Ian Nelson FCA

Charity’s principal address Klidon House Leigh Place. Cobham KT11 2HL

Declarations

The trustees declare that they have approved the trustees’ report above. Signed on behalf of the charity’s Trustee Board.

Signature

Full name Sir Gerald Acher CBE LVO Clare Briscoe Watt Chairman Member of the Trustee Board

Date

Independent examiner's report on the accounts

Section A Independent Examiner’s Report

Report to the trustees/ Chatterbus CIO members of On accounts for the year 31 March 2025 Charity no 1173907 ended Set out on pages 6 to 19 I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 / 03 / 2025 . Responsibilities and basis of As the charity's trustees, you are responsible for the preparation of the accounts in report accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's I have completed my examination. I confirm that no material matters have come statement to my attention in connection with the examination which gives me cause to believe that in, any material respect:

the accounting records were not kept in accordance with section 130 of the Charities Act; or
the accounts did not accord with the accounting records; or
the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

Signed: Date: Name: Ian Roberts Relevant professional Chartered Accountant - ICAEW qualification(s) or body): Address: 40 D’Abernon Drive, Cobham, KT11 3JD

Chatterbus CIO 1173907 Annual accounts for the period Period start date 01-Apr-24 to 31-Mar-25 “wsai~~ee~~ FOR ENGLAND AND WALE	Chatterbus CIO 1173907 Annual accounts for the period Period start date 01-Apr-24 to 31-Mar-25 “wsai~~ee~~ FOR ENGLAND AND WALE	Chatterbus CIO 1173907 Annual accounts for the period Period start date 01-Apr-24 to 31-Mar-25 “wsai~~ee~~ FOR ENGLAND AND WALE	Chatterbus CIO 1173907 Annual accounts for the period Period start date 01-Apr-24 to 31-Mar-25 “wsai~~ee~~ FOR ENGLAND AND WALE	Chatterbus CIO 1173907 Annual accounts for the period Period start date 01-Apr-24 to 31-Mar-25 “wsai~~ee~~ FOR ENGLAND AND WALE	Chatterbus CIO 1173907 Annual accounts for the period Period start date 01-Apr-24 to 31-Mar-25 “wsai~~ee~~ FOR ENGLAND AND WALE	Chatterbus CIO 1173907 Annual accounts for the period Period start date 01-Apr-24 to 31-Mar-25 “wsai~~ee~~ FOR ENGLAND AND WALE
Section A Statement of financial activities	Section A Statement of financial activities
Recommended categories by activity		Guidance Notes	Unrestricted funds	Total funds		Prior Year to 31/03/2024
			£	£		£
Incoming resources (Note 3)
Income and endowments from:
Donations and legacies		S01	207,283	207,283		73,069
Charitable activities		S02	116,315	116,315		103,313
Other trading activities		S03	-	-		-
*Total*		S07	323,597	323,597		176,382
Resources expended (Note 6)	Resources expended (Note 6)
Expenditure on:
Charitable activities		S09	340,991	340,991		177,422
*Total*		S12	340,991	340,991		177,422
Net income/(expenditure) before investment gains/(losses)		S13	(17,394)	(17,394)		(1,040)
Net gains/(losses) on investments		S14
Net income/(expenditure)		S15	(17,394)	(17,394)		(1,040)
Extraordinary items		S16				-
*Net movement in funds*		S20	(17,394)	(17,394)		(1,040)
*Reconciliation of funds:*
Total funds brought forward		S21	23,221	23,221		24,261
*Total funds carried forward*		S22	5,827	5,827	827	23,221

Section B Balance sheet

Guidance Notes Fixed assets *Total fixed assets (Note 8)* B05 Current assets Debtors (Note 9) B07 Cash at bank and in hand (Note 11) B09 *Total current assets* B10 Creditors: amounts falling due within one year (Note 10) B11 *Net current assets/(liabilities)* B12 *Total assets less current* *liabilities* B13 Creditors: amounts falling due after one year (Note 10) B14 Provisions for liabilities B15 *Total net assets or liabilities* B16	Unrestricted funds Total this year Prior Year to 31/03/2024 £ £ £ 3,684 3,684 6,283 12,719 12,719 5,580 34,812 34,812 75,086
	47,531 47,531 80,665
	44,304 44,304 60,044
	3,227 3,227 20,621

	6,911 5,827 26,904
	1,083 1,083 3,683 -
	5,827 (353) 23,221

Signed by one or two trustees on behalf of all the trustees	Signature	Name	Date of approval
		Sir Gerald Acher
		Clare Briscoe Watt

Section C Notes to the accounts

Note 1 Basis of preparation

This section should be completed by all charities .

1.1 Basis of accounting

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

The accounts have been prepared in accordance with:

the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014

• and with  Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 the Financial Reporting Standard applicable in the United Kingdom and • and with  Republic of Ireland (FRS 102)

and with the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102. *



-Tick as appropriate

1.2 Going concern

If there are material uncertainties related to events or conditions that cast significant doubt on the charity's ability to continue as a going concern, please provide the following details or state "Not applicable", if appropriate:

An explanation as to those factors that support The charity has funds carried forward at the end of the conclusion that the charity is a going the year and has in place committed funding into concern; the next financial year

Disclosure of any uncertainties that make the going concern assumption doubtful;

Not Applicable

Where accounts are not prepared on a going concern basis, please disclose this fact together with the basis on which the trustees prepared the accounts and the reason why the charity is not regarded as a going concern.

Not Applicable

1.3 Change of accounting policy

The accounts present a true and fair view and the accounting policies adopted are those outlined in note

{ }.

Yes  * -Tick as appropriate No

1.4 Changes to accounting estimates

No changes to accounting estimates have occurred in the reporting period (3.46 FRS 102 SORP).

Yes  * -Tick as appropriate No 1.5 Material prior year errors

No material prior year error have been identified in the reporting period (3.47 FRS 102 SORP).

----- Start of picture text -----
Yes 
-Tick as appropriate
No
Note 2 Accounting policies
2.2 INCOME
----- End of picture text -----*

This standard list of accounting policies has been applied by the charity except for those ticked "No" or "N/a". Where a different or additional policy has been adopted then this is detailed in the box below. Recognition These are included in the Statement of Financial Activities of income (SoFA) when:  the charity becomes entitled to the resources; · it is more likely than not that the trustees will receive the resources; and Yes No N/a  the monetary value can be measured with sufficient  reliability. There has been no offsetting of assets and liabilities, or income Yes No N/a and expenses, unless required or permitted by the FRS 102  Offsetting SORP or FRS 102. Grants and donations are only included in the SoFA when Yes No N/a Grants and the general income recognition criteria are met (5.10 to donations 5.12 FRS102 SORP).  In the case of performance related grants, income must only be recognised to the extent that the charity has provided the specified goods or services as entitlement to Yes No N/a the grant only occurs when the performance related conditions are met (5.16 FRS 102 SORP).  Legacies Legacies are included in the SOFA when receipt is probable, that is, when there has been grant of probate, the executors have established that there are sufficient assets in the estate and any conditions attached to the Yes No N/a legacy are either within the control of the charity or have been met.  Government The charity has received government grants in the Yes No N/a grants reporting period 

Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount Tax reclaims recovered on a donation is considered to be part of that on donations gift and is treated as an addition to the same fund as the and gifts initial donation unless the donor or the terms of the appeal have specified otherwise. Contractual income and This is only included in the SoFA once the charity has performance provided the related goods or services or met the related performance related conditions. grants Donated goods are measured at fair value (the amount Donated for which the asset could be exchanged) unless goods impractical to do so. The cost of any stock of goods donated for distribution to beneficiaries is deemed to be the fair value of those gifts at the time of their receipt and they are recognised on receipt. In the reporting period in which the stocks are distributed, they are recognised as an expense at the carrying amount of the stocks at distribution. Donated goods for resale are measured at fair value on initial recognition, which is the expected proceeds from sale less the expected costs of sale and recognised in 'Income from other trading activities' with the corresponding stock recognised in the balance sheet. On its sale the value of stock is charged against 'Income from other trading activities' and the proceeds from sale are also recognised as 'Income from other trading activities'. Goods donated for on-going use by the charity are recognised as tangible fixed assets and included in the SoFA as incoming resources when receivable. Gifts in kind for use by the charity are included in the SoFA as income from donations when receivable. Donated Donated services and facilities are included in the SOFA services and when received at the value of the gift to the charity facilities provided the value of the gift can be measured reliably. Donated services and facilities that are consumed immediately are recognised as income with an equivalent amount recognised as an expense under the appropriate heading in the SOFA.

Support The charity has incurred expenditure on support costs. costs The value of any voluntary help received is not included Volunteer in the accounts but is described in the trustees’ annual help report.

Yes No N/a	Yes No N/a	Yes No N/a

Yes No N/a

Yes No N/a
		
Yes No N/a
		

Yes No N/a	Yes No N/a	Yes No N/a
		
Yes No N/a
		
Yes No N/a

Yes No N/a

Yes No N/a

Yes No N/a

Yes No N/a


Income from interest, royalties and dividends This is included in the accounts when receipt is probable and the amount receivable can be measured reliably. Income from membership subscriptions Membership subscriptions received in the nature of a gift are recognised in Donations and Legacies. Membership subscriptions which gives a member the right to buy services or other benefits are recognised as income earned from the provision of goods and services as income from charitable activities. Settlement of insurance claims Insurance claims are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS102 SORP) and are included as an item of other income in the SoFA. Investment gains and losses This includes any realised or unrealised gains or losses on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year. 2.3 EXPENDITURE AND LIABILITIES Liability recognition Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty. Governance and support costs Support costs have been allocated between governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice. Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, e.g. allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage. Grants with performance conditions Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SoFA once the recipient of the grant has provided the specified service or output. Grants payable without performance conditions Where there are no conditions attaching to the grant that enables the donor charity to realistically avoid the commitment, a liability for the full funding obligation must be recognised. Redundancy cost The charity made no redundancy payments during the reporting period. Deferred income No material item of deferred income has been included in the accounts. Creditors	Yes No N/a	Yes No N/a	Yes No N/a
			
	Yes No N/a
			
	Yes No N/a
			
	Yes No N/a
	
	Yes No N/a
			
	Yes No N/a
	
	Yes No N/a
	
	Yes No N/a
			
	Yes No N/a
			
	Yes No N/a
			
	Yes No N/a
			
	Yes No N/a
	
	Yes No N/a

The charity has creditors which are measured at settlement amounts less any trade discounts A liability is measured on recognition at its historical cost Provisions and then subsequently measured at the best estimate of for liabilities the amount required to settle the obligation at the reporting date The charity accounts for basic financial instruments on Basic initial recognition as per paragraph 10.7 FRS102 SORP. financial Subsequent measurement is as per paragraphs 11.17 to instruments 11.19, FRS102 SORP. 2.4 ASSETS Tangible These are capitalised if they can be used for more than fixed assets one year, and cost at least £1 for use by charity They are valued at cost. The depreciation rates and methods used are disclosed in note 14.2. Intangible The charity has intangible fixed assets, that is, non- fixed assets monetary assets that do not have physical substance but are identifiable and are controlled by the charity through custody or legal rights. The amortisation rates and methods used are disclosed in note 9.5 They are valued at cost. Heritage The charity has heritage assets, that is, non-monetary assets assets with historic, artistic, scientific, technological, geophysical or environmental qualities that are held and maintained principally for their contribution to knowledge and culture. The depreciation rates and methods used as disclosed in note 9.6.1.4. They are valued at cost. Investments Fixed asset investments in quoted shares, traded bonds and similar investments are valued at initially at cost and subsequently at fair value (their market value) at the year end. The same treatment is applied to unlisted investments unless fair value cannot be measured reliably in which case it is measured at cost less impairment.

Investments held for resale or pending their sale and cash and cash equivalents with a maturity date of less than 1 year are treated as current asset investments Stocks and Stocks held for sale as part of non-charitable trade are work in measured at the lower of cost or net realisable value. progress

	
	Yes No N/a
	
	Yes No N/a
			
	Yes No N/a


	
	Yes No N/a
			
	Yes No N/a
			
	Yes No N/a
			
	Yes No N/a
			
	Yes No N/a
			
	Yes No N/a
			
	Yes No N/a
			

Yes No N/a

Goods or services provided as part of a charitable activity are measured at net realisable value based on the service potential  provided by items of stock. Work in progress is valued at cost less any foreseeable loss that Yes No N/a is likely to occur on the contract.  Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any Debtors trade discounts or amount advanced by the charity. Yes No N/a Subsequently, they are measured at the cash or other consideration expected to be received.  The charity has investments which it holds for resale or pending their sale and cash and cash equivalents with a maturity date Current asset less than one year. These include cash on deposit and cash investments equivalents with a maturity date of less than one year held for Yes No N/a investment purposes rather than to meet short term cash commitments as they fall due.  Yes No N/a They are valued at fair value except where they qualify as  basic financial instruments.

Note 3 Analysis of income

Analysis	Unrestricted funds	Total funds Prior Year £ £	Total funds Prior Year £ £
Donations andgifts	49,784	49,784	57,408
Gift Aid	168	168	181
Legacies	-	-
General grants provided by government/other charities	156,221	156,221	14,840
Membership subscriptions and sponsorships which are in substance donations
Donatedgoods, facilities and services
Other	1,109	1,109	640
Total	207,283	207,283	73,069

Bus Fares	116,315		103,313
Other
Total	116,315		103,313

	-	-	-
Other	-	-	-
Total	-	-	-

	323,597		176,382

Other information:

Within the income items above the following items are material: (please disclose the nature, amount and any prior year amounts)

Bus fares collected by the Bus Operator (East Surrey Rural Transport Partnership) of £14,287 (2024 £14,450) and Bus fares from Surrey County Council of £60,396 (2024: 57,016); Donations: Elmbridge CIL £20,000 Surrey Council: £133,621 Chelsea Football Club £15,000 (2024: 15,000)

Note 4 Analysis of receipts of government grants

Description	This year £	Prior Year £
Elmbridge Borough Council	20,000	14,840
SurreyCountyCouncil	133,621	-

Total	153,621	14,840

Please provide details of any unfulfilled conditions and other contingencies attaching to grants that have been recognised in income.

None

Please give details of other forms of government assistance from which the charity has directly benefited.

None

Note 5 Donated goods, facilities and services

Please give details of other forms of other donated goods and The Trustees of the Charity are unpaid volunteers, services not recognised in the other services provided by unpaid volunteers include, accounts, e.g. contribution of legal, accounting and design services. unpaid volunteers.

Note 6 Analysis of expenditure

Note 6 Analysis of expenditure	Analysis of expenditure
Analysis Expenditure on raising funds: Total expenditure on raising funds Expenditure on charitable activities Bus Running Costs Timetables, leaflets, displays etc Insurance Depreciation Total expenditure on charitable activities TOTAL EXPENDITURE	Analysis	Unrestricted funds £	Total funds Prior Year £ £
	Total expenditure on raising funds	-	-	-

	Bus Running Costs	335,922		173,855
	Timetables, leaflets, displays etc	1,711		269
	Insurance	757		697
	Depreciation	2,600		2,600
	Total expenditure on charitable activities	340,991		177,422

		340,991		177,422

Note 7 Details of certain items of expenditure

Fees for examination of the accounts

Independent examiner’s fees Assurance services other than audit or independent examination Tax advisory fees Other fees (for example: financial advice, consultancy, accountancy services) paid to the independent examiner	This Year £	Prior Year £
	-	-
	-	-
	-	-
	-	-

Note 8 Tangible fixed assets

8.1 Cost or valuation

Freehold land & buildings £	Other land & buildings £	Plant, machinery and motor vehicles £	Fixtures, fittings and equipment £	Total £
-	-	13,000	-	13,000
-	-	-	-	-
-	-	-	-	-
-	-	-	-	-
-	-	-	-	-
-	-	13,000		13,000

8.2 Depreciation and impairments

		Straight Line
		5 years

-	-	6,717	-	6,717
-	-	-	-	-
-	-	2,600		2,600
-	-
-	-

-	-	9,317		9,317

-	-	6,283	-	6,283
-	-	3,683		3,683


			This Year £	Prior Year £
			12,719 -	- 3,080 2,500
			12,719	5,580

			This Year £	Prior Year £
			- - -	- - 2,500

Note 10 Creditors and accruals

10.1 Analysis of creditors

Accruals for grants payable Bank loans and overdrafts Trade creditors

Amounts falling due within one year	Amounts falling due after more than one year
This Year Prior Year £ £	This Year Prior Year £ £
-	- -
-	- -
14,492 20,232	- -

Payments received on account for contracts or performance- related grants Accruals and deferred income Taxation and social security Other creditors Total	- -	- -
	29,812 39,812	1,083 3,683
	*	- -
	*	- -
	44,304 60,044	1,083 3,683

10.2 Deferred income

Income granted in relation to future accounting periods is shown as deferred within creditors

*Movement in deferred income account*	This Year	Prior Year
	£	£
Balance at the start of the reporting period	43,496	31,123
Amounts added in current period	10,833	37,212
Amounts released to income from previous periods	(23,433)	(24,840)
Balance at the end of the reporting period	30,896	43,496

Note 11 Cash at bank and in hand

Cash at bank and on hand Total	This Year £	Prior Year £
	34,812	75,086
	34,812	75,086

Note 12 Transactions with trustees and related parties

12.1 Trustee remuneration and benefits

None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity (True or False)

TRUE

12.2 Trustees' expenses

No trustee expenses have been incurred (True or False)

TRUE

12.3 Transaction(s) with related parties

There have been no related party transactions in the reporting period (True or False)

TRUE