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2023-05-31-accounts

Running
Days make a significant contribution		 to
Summary
ofthe main
achievements
ofthe charity,
identifying
the difference the
charity's work has made to		 FoKA8 funds, mainly through the sale of
programmes,
the income from rents on sales
stalls and sundry donations.
Running
Days are
also the principal
means by which the Charity
the circumstances ofits fulfils its charitable objective.
beneficiaries
and any wider
benefits to society asa
whole.		 A major achievement
during the reporting
year was the acquisition
ofa 1929-built
I eyland
Lion. This vehicle had not been
known to us previously
but was offered to		 us
forsale, an offer we readily took up (using
funds donated forthat purpose)
Itwas a
major attraction at the May 2023 Running
Day where
it gave rides around the city. As a
bus from the 1920s itenhances
our ability		 to
teII the story ofthe early/pre-war
years of
King Alfred Motor Services.
The centenary ofthe first bus operations of
King Alfred Moror Services and the half
centenary ofthe demise of King Alfred Motor
Services also fell during the reporting year
and both events were duly marked.
2022/2023 also saw two major restoration
projects under way most ofthe costs for
which were covered by donations. Those
projects were completed
in the 2023/2024
year but those buses are now in working
order and in a position to be presented
to		 the
public and give rides
Statement Statement Statement explaining explaining the Para 1.22 The nature ofthe charity's activities
in restoring
policy for holding reserves and maintaining
a collection of17[19&]historic
stating why they are held motor vehicles requires a significant
sum
"in
hand' against contingencies
such as major
component
overhaul or replacement.
Against
this background,
the charity*s investment
5.
Reserves Policy specifies that at least f15kwill
be held in current account tunrestricted
funds),
representing
a typical six months'
outgoings. The
current account typically
holds around f20,000
plus f10,000at Natlest].
Beyond that, an uncapped
amount was held in a
deposit account, raised predominantly
from
legacies and donations,
primarily for the
purpose ofeventual
acquisition
ofpermanent
premises. vvhilst future policy wili focus on
continuing to build financial resources
in
readiness for property acquisition
aimed at
seruring the charity's
long-term
future,
in the
short term it is not going to be needed and,
accordingly, f100,000has been invested
with a
reputable
fund manager
in medium
risk
investments.
Amount ofreserves heid Para 1.22
Reasons for holding zero Para 1.22 N/A
reserves
Details offund materially in Para 1.24 N/A
deficit
Explanation ofany Para 1.23 None. The charity has suNcient
reserves
uncertainties about the and support ofthe members to be
charity
concern		 continuing as a going considered
a going concern.
dditiona l information (optional)
ou ma choose to include further statements where relevant about:
Main sources offunding are donations
from
The charity's principal Para 1.47 supporters,
from membership
fees, from
sources of funds (including legacies, and from sales and stall income
any fundraising) associated
with the Running
l3ay and other
events.

A description ofthe principal Para 146
risks facing the charity
The principai
risk affecting FOKA8 isthe
ahsence ofsecurity oftenure
in relation to
the various premises where the buses are
stored. Further, as noted in previous years,
even where the landiord
is happy for the
Charity to remain
in occupation there isthe
risk ofa demand
for an increased rent.
Accordingly, the trustees continue to look for
aiternative
sources offunds and to pursue
the long-term
objective ofowning our own
accommodation.

Description
ofcharity's
trusts:
Type of governing
document:		 Memorandum
5Articles of		 Association
for example,
:-;„::-~;-e.-.:,',		 (incorporated
at Companies		 House on 25th
October 2017).
How isthe charity Para 1.25 Charitable
Company
Limited		 by Guarantee
constituted' (CLG) with 200members.
Trustee selection methods Trustees are appointed
or reappointed
by
including
details ofany		 election by the members of the CLG atthe
constitutional
provisions e.g.
election to post or name of
any person or body entitled		 Annual
General Meeting held in September
or October each year, in accordance with
the artirloc nf r)nnristinn
The nrinriraia
to appoint one ormore adopted isthat each year one third ofthe
trustees Trustees shall retire but may stand for re-
election.

Trustees are appointed
or reappointed
by
election by the members ofthe CLG at the
Policies and procedures Para 1.51 Annual
General Meeting traditionally
held in
October each year but for the last few years
adopted
training		 for ttle Induction
oftrustees		 and held remotely
by Zoom in September,
in
accordance with the Articles ofAssociation.
The principle adopted
isthat each year one
third ofthe Trustees shall retire but may
stand for re-election.
FoKAB isa member ofCommunity
First
Havant S.East Hampshire
(CFHEH} enabling
The charity's organisational Para 1.51 Trustees to attend courses explaining the
responsibilities
ofa registered
charity and
structure and
network
with
charity works		 any wklcf
which the		 their role in its management.
FoKAB is also a
member ofthe National Association ofRoad
Transport
Museums
(NARTM} which
provides
useful advice and the opportunity
to exchange ideas on 'best practice' with
other organisations
with similar aims.
Membership
is also maintained
ofindividual
'marque'
clubs (e.g.for Albion, Dennis,
Leyland vehicles} who are able to assist
restoration,
especially
in sourcing rare skills
or replacement
parts.
An informal
and cordial relationship
isalso
maintained
with bodies such as Winchester
City Council and Winchester
Discovery
Centre, including
attendance
by historic
vehicles at appropriate
events and other
participation
in heritage activities.
The Trustees see that appropriate
insurances
are in place to cover motoring
risks, asset values and public liability.
A
Health g Safety sub-committee
meets when
required
and provides advice to rninimise
risks to volunteer
workers and the wider
public.
All trustees give their time on an entirely
voluntary
basis and receive no remuneration
or other benefits.

~
4		 e ~ e ~ e ~
I
I
ro
O
Z.eo Restricted
Recommended
categories		 by activity al Unrestricted
funds		 income
funds		 Endowment
funds		 Total funds Prior year
funds
Income (Note 3) F01 F02 F03 F04 F05
Income and endowments from:
Donations and legacies S01 144,390 144,390 101,809
Charitable
activities
Other trading
activities		 S02
S03		 19,818
20,115		 19,818
20,115		 16,302
18,929
Investments S04 269
Separate material
item of income		 S05
Other S06
Total S07 184,592 184592 137054
Expenditure
{Notes6)		 I
Expenditure
on:
Raising funds S08 8,401 8,401 4,203
Charitable
activities		 S09 108,453 108,453
Separate material expense item S10 2,508 2,508
Other S11 5,000 5,000 5,000
Total S12 124,362 124,362 88,842
Net income/(expenditure) before tax for
the reporting
period		 S13 6Q,230 60,230 48,212
Tax payable S14
Net income/(expenditure) after tax
before investment gains/{fosses) S15 60,230 60,230 48,212
Net gains/(losses)
on
investments S16
Net income/(expenditure) S17 60,230 60,230 48,212
Extraordinary
items		 S18
Transfers
between		 funds S19
Other recognised gains/(losses):
Gains and losses on revaluation offixed assets for the
charity's
own use		 S20
Other gains/(losses) S21
Net movement in funds S22 60,230 60,230 48,212
Reconciliation
of
funds:
Total funds brought
forward		 S23 332,119 332,119 283,907
Total funds carried fort/ffard $24 392,349 392,349 332,119
~
s
s0
eOeeo Unrestricted Restricted
income		 Endowment Total this Total last
40 funds funds funds year year
8 8 2 2
Fixed assets F01 F02 F03 F04 F05
intangible assets (Note 15) 801
Tangible assets (Note 14) 802 5,000 5,000 10,000
Heritage assets (Note 16) 803 191,000 191,000 146,000
Investments (Note 17) 804
Total fixed assets 805 196,000 196,000 'I56,000
Current assets
Stocks (Note 18) 806
Debtors (Note 19) 807 5,0OO 5,000 5,000
Investments (Note 17.4) 808 100,000 100,000
Cash at bank and in hand
(Note 24)		 800 91,869 91,869 171,639
Total current assets 810 196,869 196,869 176,639
Creditors: amounts falling due within
one year
(Note 20)		 811 520 520 520
Net current assetsl(habilities) 812 196,349 196,349 176,119
Total assets less current liabilities 813 392,349 392,349 332,119
Creditors: amounts falling due after
one year (Note 20) 814
Provisions for iisbilities 815
Total net assets orliabilities 816 392,349 392,349 332,119
Funds ofthe Charity
Endowment
funds		 (Note 27) 817
Restricted income funds (Note 27) 818
Unrestricted
funds		 819 392,349 392,349 332,119
Revaluation
reserve		 820
Fair value reserve 821
Total funds 822 392,349 392,349 332,119
e small companies
regime and in		 e small companies
regime and in		 accordance
wifh FRS702S		 ORp.
Signed by one or twc trustees/directors
trustees/directors		 on behalf of ail the Print Name Date of
approval
dd/mm/
SG Bigley 14/11/ZOZ3
Signature ofdirector authenticating accounts being sent to Si ature Date
dd/mm/yyyy
Companies
House		 SGBi ley 14/1 1/2023
Print name
~ ~ ~
Note 3 Income
Restricted
Analysis of income unrestricted
funds		 income
funds		 Endowment
funds		 Total funds Prior ye'ar
2 2
Donations Donations and ifts 104,580 104,580 69 475
and legacies: Gift Aid 29,230 29,230 17 619
Le acies 3,000 3,000 14,715
General grants provided by government/other
charities
Membership subscriptions and sponsorships
which are in substance donations
7,580 7,580
Donated goods, facilities and services
Other
Total 144,390 144,390 101,809
Charitable
activities:
Vehicle runnin
da		 s 14,956 '14,956 16,302
Other
Total 14,956 14,956 16 302
Other trading Sale of surplus items and FoKAS branded
activities: items 4,862 4,862
Other
Total 4,862
Income from Interest income 269 14
investments; Dividend income
Rental and leasi income 20,115 20,115 18,929
Other
Total 20,384 20,384 18,943
Separate
material item
ofincome
Total
Other: Conversion of endowment funds into income
Gain on disposal ofa tangible fixed asset
held for charity's own use
Gain on disposal ofa programme related
investment
Royalties from the exploitation of intellectual
property rights
Other
Totai
TOTAL INCOME 184,592 184,592 137,054
Other information:
All income in the prior year was unrestricted except for:
(please provide description and amounts)
Where any endowment fund is converted into income in the
reporting period, please give the reason for the conversion.
Where any endowment fund is converted into income in the
prior period, please give the reason for the conversion.
~
~		 ~
Note 5 Oonated goods, facilities and services
This year Last year
2
Seconded staff
Use of property
Other
Please provide details ofthe
accounting
policy for the recognition
and valuation
ofdonated goods,
facilities and services.		 All donated goods that are not fixed assets are accounted
for at fair value unless
it is impractical to reliably measure
In absence of any direct evidence of fair value of donated goods, then a value is derived from the cost of the item to
goods that are expected to be sold, the estimated
resale value after deducting
any anticipated
costs ofsales.
If it is
value ofgoods donated for resale, or the costs ofvaluation
outweigh
the benefits, the donated goods are recognised
equivalent
amount
being recognised as an expense.		 the value of the donated
items.
the donor or, in the case of
impracticable
Io measure the fair
as income vihen sold, with an
Please provide details of any
unfulfilled
conditions		 and other
contingencies
attaching
to resources
from donated goods and services not
recognised
in income.
Not a
licable
Please give details of other forms of In accordance with the SQRP and in recognition of the difficulties in placing monetary value on the contribution
from		 volunteers, the contribution of
other donated goods and services the volunteers is not included in the income ofthe charity. The charity however depends on the support of its volunteers which is much appreciated.
not recognised
in the		 accounts, eg The arrangements
with volunteers
are difficult to		 value precisely in monetary terms and have not been recognised
in		 the Statement of Financial
contribution
ofunpaid		 volunteers. Activities. The volunteers
and		 the charity accept and agree that no contract of employment is created by these arrangements.
Note 6 Expenditure Expenditure Expenditure Expenditure Expenditure
This year Last year
Restricted Restricted
Unrestricted income Endowment Unrestricted income Endowment
Analysis funds funds funds Total funds funds funds funds Total funds
Expenditure
on raising		 funds:
Incurred seeking donations
Incurred seeking legacies
Incurred seeking grants
Operating
membership		 schemes and social
lotteries
Staging fundraising
events
Fudraising
agents		 8,401 8,401 3,490 3,490
Operating
charity shops
Operating
a trading
company		 undertaking
non-charitable
tradin
activi
Advertising,
marketing,		 direct mail and
publicity
Start up costs incurred
in generating		 new
source of future income
Database development costs
Other trading
activities
investment
management		 costs:
Portfolio management
costs
Cost of obtaining
investment		 advice
Investment
administration		 costs
Intellectual
property
licencing		 costs
Rent collection, property repairs and
maintenance
charges
Total expenditure
on raising		 funds 8,401 8,401 3,490 3,490
Expenditure
on charitable activities:
Bus restoration,
accomodation		 and
maintenance
108,453 108,453 77,281 77,281
Total expenditure
on charitable		 activities 108,453 108,453 77,281 77,281
Separate material
item		 ofexpense
Other running
costs eg		 stationary 2,508 3,071 3,071
Total 2,508 2,508 3,071
Dther
De reciation 5,000 5,000 5,000 5,000
Total other expenditure 5,000 5,000 5,000
TOTAL EXPENDITURE 124,362 124,362 88,842 88,842

This year Last year
600 510
Freehold land & Other land & Plant, machinery and Fixtures, fittings and Total
buildings buildings motor vehicles equipment
At the beginning of 25,000 25,000
the year
Additions
Revaluations
Disposals
Transfers *
At end of the year 25,000 25,000
14.2 Depreciation and impairments
**Basis SLor RB (Straight SLor RB SL SLor RB SLor RB
Line or Reducing
Balance)
*"Rate 20%
At beginning of the 20,000 20,000
year
Disposals
Depreciation 5,000 5,000
Impairment
Transfers*
At end of the year 25,000 25,000
14.3Net book value
Net book value at the 5,000 5,000
beginning
of		 the year
Net book value at the
end of the year

This year Last year
Trade debtors
Prepayments and accrued income
Other debtors 5,000.0 5,000.0
Total 5,000.0 5,000.0

ed
in		 debtor s abov e)
This year Last year
Total

Note 24
Cash at bank and		 in hand
This year Last year
Short term cash investments {lessthan 3months maturity date}
Short term deposits
Cash at bank and on hand 91,869 171„639
Other 100,000
Total 191,869 171,639
This year Last year
Please provide details ofthe nature ofthe
event
Provide an estimate ofthe financial effect
ofthe event or astatement thai such an
estimate cannot be made