Trustees. annual report (including Directors, report) for the period From: 0110612023 To: 3110512024 Charity name: Friends of Kij Alfr1 Buses Charity rogl8tratlon numbor: 1175535 Company numbor. 11031147 Objectives and actlvlties SORP refeTerw> Summary of the purposes of the charity as set oui in ts governing document Parn 1.17 In accordance wtth clause 5.1 of the ch8rity'8 Articles of Association Constitution To purchase. maint8ln. restore and preseNe for tha l)enefit of the public. vehicles. artefacts. archive material and other items vthlch pertain to 8nd refle¢tth8 transport haritaga and character of R. Chlsnell & Sons Ltd Iva Kin8 Altred Motor SeNices} and other bus and coach operations In the Ctty of Wlnchester 8nd the surrounding areas,. Summary of tha maln activtties in relation to those purpo888 for the public benefft, in particular, the activities, project5 or services identified in the accounts. Para 1.17• 1.19 In planning acthfjtles forthe year18nd for the longer temil the Trustees hav& at all times been minttful of the Ch8rty Commission'8 guidance on pubLlc benefft. In practlcal temis. this tskes the form of attend8nce by FOKABned historic vehlcleg at numerous heritege-related events at various venues in southern England where in most cases members of the public have the opportunty to travel on vehicles from FOKAB'S collection and so experience bus 8nO coach travel 88 they were In the p88t. Additlonalty, FOKAB organized three Running Days duringthe year. as part ofwinchester Herita8• Opon Dw IHODBI In Saptembor. on the New Year Bank Holiday weekend and on the Early May Bank Holiday. The largest of these was in May when 811 usable vehicles from FOKAB'S collection were on the road piovidingfree heritage bus sel¢e$ on traditional King Alfred routes In and around Winchester. togetherwith other visiting historic vehicles. Participation in HODS
included a hl¢le disp 08 y[1 as the opportuntyto travel on the buses. Lookingto the future, the Trustees contlnue to be conscious of the need to seek a more suitable base tOTthe collection. The 18 vehlcles in FoL4B'5 cara are currently stored 8t two different Ioc8tlons la third location having buèn dostroyed byfire durin8 thc reporting year- see further below). none of which has long-term security of tenure nor is suitable for access ty the gener81 public. In recentye8r8 rents have tsnded to increase sub¥<antially. m8kingth8 present arrangements Increaslngly unvlable. However. despite an ever-Increasingfocu$ in this vital area. no suitable and affordable property opportunities could be identified durfngthe reportingyear. Indeed. the need lor accommodation bhich enjoys not only18g81 security. but phy8lcal securlty as well has been highli8hted byth8 fire in December 2023 whlch severely dam88ed the one FOKAB heiitage vehicle stored there 8nd d8Stroyed 88veral other8 not belongingto FOKAB Statement confinning whether the trustees have had regard to the guidan Issued by the Charity Commi88ion on publlc benefft Pwa 1.18 The trustees have re8ard to the guidance issued bythe Charlty Commisslon on publle benefi.t at au times. Addhlonal Inforination (Optional) You ma choose to include further statements where rvant about: SORP réfwen(* The contrlbuiion m81Je tyvolunteers is crr(ical to FOKAB'S ongoing success. All operational and administrative tasks are carrled out entirety by unpaid volunteers dravm from the embership. as Is the great m8Jority of engineering and restoration activity. Wrthout such enthusiastic support, FOKAB would simply be unable to continuo its present level of aGhievernent. Contrrbution made by volunteers Para 1.38
Achievements and perforniance Runrting Days make a signrficant contribution to FOKAB funds, mainly through the sale of progr8mme5. the income from rents on sales stalls and sundry donations. Running Days are also the princlpal means by1th the Charity fulflLs Its charitsble objective. Summary of the main achievements of the charrty. identtfying the difference th8 charity's work has made to the circumstances of its beneficiaries and any ryder benefrts to society as whole. Pwa 120 A major achpvement during the reporting year was the near completion of the restorakn of a Leyland rrtan PD2 bu8 which as a vehiGb from the 1950s fills an important gap in the story of King Alfred MotLY Services. Unfortunately, methanical problems meant rt was not able to give ride8 at the May 2024 Running Day althwgh it was on display and attracted much interest: mechanical problems seem now to have been fixed and it should be able to give rides at futur8 running days. A180 generating much interest was the wreck of the bus damaged in the fire in December 2023. That interest ha8 Included questions from member5 and others about our plans for its future. As the first underfloor engine s operating in the South of England this bus is of historic s1gn1fKan in itself (which is were not wepared to take the "easK course and aliow it to be scrapp8d) arKJ work is now in hand to decide whether it is viable (in engineering terms and financially) to restor8 it: rf restoration is deoded upon that will be a major project for
Financial r8vi8W Revw of the tharity's finanGial POSFtion at the end of the period Para 121 The board of trustees is satisfied that the charitys assets are available and adequateto fvlfil its obligations. Statement explaining the policy for hokling reserves stating why ihey are held Pata 1.22 The nature ofthe chariVs 8CtMties in restoring and maintainlng a collection of 17 [191 historic motorvehicles requires a signilicant sum 'in hand. 8galnst conts"ngencies such as major component overhaul or replacement. Against this background. the charty's Investment & Aosarves Policy specffies that at least £15k will be h81d in current aecount lunrestrictod lundsl, representing8 typ81 six months. outgoings. For the last year. the current 8ccount typic811y holds around £30.000 plu8 £10.000 at another bank. eyond that. an uneapped amountW88 held in a dep03it account. r81sed pr8domlnantly ftom leg8cle8 and donations, primarilyfor the purpose of eventual acquisltlon of permanent premises. Whilst future pokncy will focus on continuingto build financial resources in readiness for property 8cquisltlon aimed at securing the chartys long-term future, in th8 short term it18 not going to be nee(ted 8nd, accordingly, £100,01)O has t)66n invested with a reputabio fund manager in medium risk Investments. Amount of reserves held Para 1.22 Rea80ns for holding zero reservas Para 1.22 NIA Details of fund materially in (leficit Para 124 NIA Explanation of any uncertainties at(Jut the charity continuing as a going Para 1.23 None. The charity has sufficient reserves and support ofthe members to be considered a going concem. concern Additional inforniation (optional) You may choose to include fvrther statéments wtr*rn rel8vant atK)ut
Main sources of fundingare donations from supporters, from membershipfees. from legacies, and from sales and stall income associated with the Running Day and other events. The charity's principal sources of funds (including any fundraising) P¥a 1.47 A description of the principal risks facing the chanty P1.48 The principal rlskaffecting FOKAB 18 the absence of 8ecurlty of tenure in reEation to the various premises wherethe buses are stored. Further, as noted in previous years, even where th8 Landlord is happyforthe Charltyto remain in occupation there is the riskof a dem8nd foran increased rent. Accordlngiy, the trustees continue to look for altem8tive sources of funds and to pursue the long-term objective of owning our own accommodation. Structure. governance and management Description of charity's trusts.. Type of goveming d0ment.. for example. 'r.st deed memorandum and articles of association etc Pw8 125 Memorandum & ArtIGles of Association (incorporated at Companies House on 25th Octobér 2017)-
How is the tharify Gonstituted? Pwa 125 Charrtable Company Limited by Guarantee (CLG) with 200 members. for example limited company, unincowed association, cio Trustee selection methods induding details of any Constitutional provisions e.g. erection to post or name of any pernon or iM)dy entitled to appoint one or more truste8S Trustees are appointed or reappointed by election by the member8 of the CLG at the Annual General Meeting held in September or October each year, in accordance with the Article8 of Association. The principle adopted is that each year one third of theTru8tee8 shall retire but maystand for re-election. Addltlonal Infomiatlon (optlonal) You ma choose to include further statements where relevant abouL Tiustees are appointed or reappointed by election bythe memb8rs ofthe CLG atthe Annual General Me8tingtraditionally held in October each year but forthe188t few years held remotely by Zoom in September. in accordance with the Articles of Association. The principle adopted is that eachyear one third of the Trustees shall retire but maystand for re- election. Policies and procedures adopted for th8 induction and training of trustees P•r• 1.51
FOKAB is a memberofcommunity First H8vant& East Hampshire (CFHEH) enablingTrustees to attend courses expEainingthe responsibilities of a reostered charity and their role in Its management. FOKAB is also a member of the National Association of Road Transport Museums (NARTM} which proldeS useftjladvice and the opportunityto exchange ideas on'best practice. with other organisations wlth 8imi18raims. Membership is also maintained of individual'marque. clubs {e.g. forAlblon. Denni8, Leyiand vehicles) who are able to a8Si8t restoration, especially in sourclng rare skllls or replacement parts. The charity's organisational structure and any wider nthork wth which the chaiity wo Para 1.51 An informal and cordial relationship 18 also maintained with bodles such as Winchestercity Council and Winche8ter DiscoveryC8ntre. includingattendance by historic vehicles at appropriate events and other participation in heritage activities. The Trustees see that appropriate insur8nces 8re in place to cover motoring risks. 8ssetvalues and public liability. A Health & Safety sub-committee meets when required and provid8S advice to mlnimlse rlsks to volunteer workers and the wrder public. Trustees. meetings are held monthly and each meeting receives a health and safety update Alltwstees glve theirtime on an entirely voluntary basis and receive no remuneration or other benefits.
Friends of KingAlfred Buses is the sole shareholderof a dorm8ntcompany. King Alfred Motor Services Limited. The company number is 12587632 Relationship with any related parties Para 1.51 Reference and administratlve details Charity name Frlends of Klng Alfred Bums Other nane the charty u8es Registered tharity number Charity's win¢ipal acidre58 1175535 34 Hlgh Streei Nuthold, R•dhlll, RH14HQ untll 17 September 2024 2 Highcroft Road, Hlghcroft Road, Wlnchestèr, England, S022 SGJ fr(xn 17 septnber 2024 Names of th• chorlty trustees who manage the tharlty Tnte n•m• Office Illanyl Daips actsd rfnL for* Namè of p•rson lor body) 8ntFU•d James D.F. Freeman Chgirman David R. Morgan Secretary Decided not to seek ra- election at September 2024 AGM Stephen G. Bigiey Roger Harris Treasurer
Dave Ledbury Nicholas Richardson Henry Pratt Richard Adous Trustee CHpted at October 2024 trustees. meeting Co-opted at October 2024 trustees, meets'ng Iliam Stanrforth Trustse 10 12 13 14 15 16 17 18 19 20 Co orate trustees- names of ts directors at the date the re Dlroctor nth• rtwas Stephen G. Bigiey J8me$ D.F. Freeman Roger Harris David Ledbury William Stanlforth PavthlwRichard Aldou8 Henry Pratt Nicholas Richardson Name of trustees holding title to property longIng to the charity Tru8ts9 name
Funds held as custodian trustees on behalf of others Description of the assets held in this capacity Name and objects of the charity on whose behall the assets are held and how this falls within the custodian charity's objects Details of arrangements for safe custody and segregation of such assets from the Gharity's own assets Addltlonal Infoftnatlon (optlonal) Names and addrMses ol advl•ern (opdonal Inforniatlon) Type of Nam Addross advlser Narn• of chlo1 •xe¢utlv• or nam•8 of s•nlor staff members (optlonal Infomiatlon) Exemptions from disclosure Reason for non*isdosure of ke rsonnel details Other optional infomiation
Declarations Tho company has tak•n advantage of the small companl•s' exomptlon In prnpaflng the rèport abovo. The trusteos declarn that tly have approvod th• trtta•s. report (Includlng dlrxtorn, roport) al>ove. Slgnod on b•half of th• ehorlty's tru•toMldlrxtor• Slonaturals) Full name(8) Posltion (for •xamplo Socrgtsry. Chair, etcl pKo ÉOKGÉ SgLriff¥ Dats
Friends tst lQrKJ Ared BeS Chari I1735 11031147 eriod No Annual accounts for the To 1st June 2023 31st May 2024 Section A Stalement ol financial activities (including summary income and expenditure account) Prlor y88r fundg Totsl lund• In¢om¥ (Note 3) F01 F02 F03 F04 F05 chATtsbal1tyfj5 23.330 17,015 17.015 8.988 269 Otrer Total Exp¢nditure INote$ 6) SQ7 169.817 169,817 184,592 Rai%lwlurth 4.728 188,586 8.401 1 D8,453 2,508 5,000 124362 S10 ¢h¢r $12 173315 173315 Net inciKn81{8xwxlture} before tax for Ihe reporting period si? 3,498 60.230 Tax pay& S14 Nèt In¢omel{expernffiirel after tax b8fore invèstmtnt gainsloossos) Y15 3,498 60.230 Inveskn W6 Nèt In¢omellexpendilurtl Extraordtnary itÈm$ Translers belween lunds Other 0gl$ed gainslllosses): 817 S18 3,498 60,230 S19 Gwns k)6595 on rBvaWon4flW a5s4tsts aw$ WUBO Tr9SeI 3,498 funds." Tutaifutth 392,349 388.851 S32.119 392,349 Tolal lunds urrl•d fonv8rd S24 388.851 CC172 IExc•D 1Q10212025
Section B Balance sheet Ilk14) 191.rrtK) 191,0 1&1#X) 1kn18) 17A) 91Afj9 193h t93.834 1g1851 391349 F¢mds ofth& Charlty 988 (th7•lEy
Section C Notes lo Ihe accounts 1.1 BJsEs of acc siatemerdof Rtt(mmethlÈd Pwbt¥.' AtxwntyrvJ arKI R8Wrtir¥J by Chanii8S . and wth" in UK Ftawbkd IrelaNI (FRS 1021 16Juts2014 Rerth"rnJ SlarbJwd WKatde Uthj KIWM Repubttc of Ireknj IFRS 1021 . arKI with thg Ch4n Act2011. FRS 101- 12 Golng con1 the concluon that clwity is a gCK#J Di$Te of any urKertanbos that mè 90ing cortwn assum&*th thubthsl: Whefy arts rwepar•J on a Tr)irwJ Jnctm tjasis. pse fSsdosÈ thi5 twher vthh the basis on the tr pard thè en[S and the reason thg chaty IS regarded as a t¥j (xyKw. 13 Change of accounthig pollcy Thtsl l. No" 1&1112024
No chwges to a)uth. estimai&% have IKrJJr&l inlhe rwbrbj tWk)Y13.48 FRS102 SORPI. 15 M•torlJl prlor errora No rnath ear errN have yep**j ps11(3.47 FRS102 SORPI. No. (iij loreoch ffi¢vperlodwewWln Ile ffje 'Ex(41 1aM112024
18111f2024
Seciion C Nots2 22 INCOME Wa. ¥•Jc¢wmlknJLytrfvO 1028CIIP(4 FRS 1( a. a. &. Wa" Ye5. i#SORP IW11P*)24
a. Ye5" Y25" a. Wa" L7bR<s.1OtOsl2Frts1lfj 18 EXPENDITURE AND UABIUTES Nla. No- a- NO- Yos" Yes" a- Ye5" 2.4 ASSETS No. Ye5. a. 18nYrJo24
Yes. a. Y•5- Wa. Currwrtiwvui W&. a" ADI)mPIAL TOOR 0ERENTfRO 1W11ra
NDle 3 Lh)nk)Th8 t7 tknalBd 1>1484 144J VolJerunni 16 Tol Totsl ToTINco CG174iiEK
Section C Notes to the accounts Iconll Noty5 year Last yo8r Seconde¢l stall Us8 of property Th1$ Please prOe deiall$ ottr aeeountlng pollcy ftsr the recognltk)n and valuation ol donated faclllties and servlees. Pl•as8 provlde d8talls ol any unfulfllled condlllons al oth8r eoniingen¢$ Mnoehlng io mOUT¢0S from donatsd goods 89rvlog8 not recognlsed In IrKoffle. Plèasè glvè dètails ot othertonns ol ¢ther donated goods and ¥ervi not Neognls•d In thg ?Oun 99 ontrlbulion of unpgid ¥oluntee CC17a (Excd) 13 1811112024
%pclion Notes to th@ 2ttounts Iconti Expandliurn rth Ex ndlturo t)n raisin InGurred seen9 donaknon5 In¢urr¢d wklng l¢gaty#s Incurred segking grants Q)erating rnembership schem88 8ooal lotteeS Stagng funthaising 8v8nts FudraisirvJ agenls Operating charty $hop$ Operating a trading Ix>rrTpany non-chantse Iradin activi Adverkn&ng, tnatketing, dired arKI wblicity Start up costs Incurred in generabty ne sourcg of futUTè in(y)m9 Oalabase development rxsts OlhÉr Iradlng ac11$ InvesThenl rnanageThntcosts: Portfolo management costs Cost of (lniTj in¥eshn8rrt adw 8.401 8,401 InVmeN admlnlstrauon Intd18clual property h"cenuw ¢y)sts Rent collection. wop&tyrewrs 8 mnInanCe tharges rotsl expenthture on r8181nglw 4.728 4.728 8.401 8,401 Expendmurg on ch4rt14bl0&¢ll¥4. Bus rosiora*"on, aftormdatton and malni0c Totsl eXPd511e on 1•blatttI 156 10&453 108,453 rAt• m•16rfal Itwn of •xppnq• OLher runniThJ costs eg 5tabonary $08 Totsl 12%7 £gJ8 2,$08 euatson Total Othgr oxpondllu TOTAL EXPENDMJRE 5,000 124.3 17&$15 Inp15 124262
Y7a IEMcdl 15 1PJ1 Ir2024
arodrnwn up ¢C17* IEXO 18 IW11r2Qa
Section C Notes lo the accounts Note 10 wlspaldplseeIer il'ln IhE4Vopithl%(mJ. Thi$)wr Last ytrar Independent exam1$ fees Tax adYlsoryfee8 Othèr fees Ilor èxamplè: finanei#l ad¥See, eorts. tountahOT trvk•#) to the Independt examln¢r 600 CC17a I 17 18111120?4
Section C Noies lo the accounis Iconll Note 14 Tangl0 fix assèts 1&1 Go•tor ¥alu•J Al th8 WMINJ of the A(111On$ 25.C¥JO ReVUalj DisposaLg Transfers. At etKI of thEyeaT . SLorRBIStr na or R8duury SLorRB SLorRB SLorRB SLerRB At beynnmg of yoar Dlspréals lrnpaknrrt Atendol the year 25,fX)O 142 Net iwk value N&1 book al the bagnning of ts year Net book atth8 End ol the year ¢¢174 IExG¢fs 18 IWIIP2024
14A knpAlrn*rt 14 R•¥alUOn Thi8 par Lastyear lQ6 Other d18¢h)WJT Thls) Last fir (IHJ Det811s oltho •xtslencfr0ndc8n¥ offlou olwopwty, p18nt8nd CC17a (Excol)
Section C Notes to Ihe accounts Nolo 16 Tlws ty of a&8¢1S ¢Otrtans 19 ¥irWo Last y8ar 01 Explaln the natur94nd 8¢al• ol herltago a$9¢1¥ tteld. 011 EypFaln lh& pollcy lorlP• acqyl$iEion. preservi¢)n, manag9mwl d6sF of hwllOA• 1&2 Cost ¢x ¥abAallon T41 At beg.nnry of year Addlons 191.( 191.000 txsposs Rwdluatror Transfe. AteThY of the year 191.( 191,0(KJ Strright r'sL"l or Reducino Balance At oflh8 y8ar Disp)sd$ Imwrme Tran$fèts' Al erxl oty 1fjA N1knik value NÈt trxjokvduo * th• Winniryof Iho year Net L*Jokv at thg gfKI ol the t91.IXXI 191.fX)O 191.IMI 191.000 CC17a (Ewr) 1811112024
16A knlrrt Thi$ swr nised trAt ConvenOn yUation processes are I1 due to trr unW $Mws. The lees t¢5e thrvdualon thp In1 rosi w wrchasethg thè wbwugni mwnlenantaa m4or Dvèrwls 16.6 Fknltwtlon 7NsJ Last Jp J¥JWon At¢l>Sf Group Totsi Car amount at th8 n[mr1d oftt perfL Athjitw Di8¥w5 Depwiats(palrr1rt R6valu8lon Cary"w arn0th Atthè aft Thls 111 Ewlaln tho rw80n whyl thtr balan¢¢ shL 11111 DI0•e inlormalion that IB helpful in 48¥89 th& value of CC17a iEx¢dS 21 181%112
Ilv) Explaln the Teown why It Trs n prac¥¢abkto obknn a valuation of CC17aFxe8D 18111f2024
15 2fr14 2013 12 Group A Gra C Omar DoMiion$ Group A Grow) B GroLP C To141 adthtlort¥ Chargo for Impatrmwrt Group A roup B Group Total ¢hO for lmpAlrint Di¥oso18 Group A. rarryTry unount Group B- carr[¥j arrN)unt Group C Othor Toial dlw CC17a IExc•D
Section C Notes to the accounls {contl Note 19 Deblors and prepayn 19.1 Anatysl8 Qt deblo This year Last yoar Trade dBbiors Prepaymonts and accrued Ineomè Other debtors 5,000.0 5,000.0 Totsi 5,000.0 5,000.0 19.2 Dis¢losurg ol debtors re¢ovevable In more than 1 year {Includ¢d in debtors above} Thls year Last year Trade debtors Prepaymènt$ and accrued Incomfr Other debtors Total CC178 (Excer) 24 1811112024
Seclion C Notes to the accounts Iconll Note 20 Creditors and aecruals Please complele thts note ttthe charlty Iws anycredllors or8¢cmals. 20.1 Analys1$ of ¢reditors Amounts lalllng due wilhln one year Amourrts falllng due after rnore than ono yèar Thts year Thls year Last year Accruals lor grants paydble Bank loans and overdrdfts Trade credltors Payments recelved on accounl for tracts or pertormanCe1#1Od grants Accruals and dofgrred income Taxation and social securlty Other oredllors Total 20.2 Deferred Income Please complete Ihts note ttthÈ charfty has dgferred Thls year Last year Please explaln th8 reasons why Incon* Is This year last yr Balance at the start of repIng kx1 Amounts addod in ¢urrBnt perfod Amounts released to income from prevlous perlods Balance at the ond ol the rewtlng period CC17a IEx¢ell 18111r2024
Section C Noles to Ihe accounts {cont) m0 24 Cash at bank and In hand This year Last year Short tem) cash Investm1$ (1 than 3 months nwturlty date) Short tenn deposits Cash at bank and on hand Other Total 80,432 108,402 188,834 91.869 100,000 191,869 CC17a (Excell 1811112024
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examinerfs report on the accounts Section A Independent Examiners Report Report to the trusteesldirectorsl members of Friends of King Alfred Buses On accounts for the yoar ended 31* May 2024 Charity no.: 1175535 Company no.: 11031147 Set out on pag88 I report to the charity trustees on my examination of the accounts of the Company for th8 year ended 31•1 May 2024. Responsibilities and ba818 of roport As the chanty's trustees of the Company (who are also th8 dir8dors of the company for the purposes of company law), you are responsible for Ihe preparation of the accounts in accordance with the requirements of the Compani88 Act 2006 (Ih8 2LX)6 A. Having satFsfied myseff that the accounts of the Company ar8 not required to be audrted for this year under Part 16 of the 2006 Act and are eligible for indeperKlenl examination. I report in resped of my 8xamination of your charity's accounts as carried out urMd6r serlion 145 of the Charities Act 2011 (Ihe 2011 Acf) In caryng out my examination. I have followed the Directions given by the Charity Commission (under seciion 145(5)(b) of the 2011 ACL Independent examlner's statement I have completed my examination. I confim that no material matters have come to my attention (other than that disclosed below ") which gives me cause to believe that.. . accounting records were not kept in accordance with sethon 386 of tl Companies Act 2006,. or . the a¢¢ounts do not a¢¢ord w4th suth records,. or . the accounts do not comply wtth relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the accounts gtve a Irue and fair vW which is not a matter consKlered as part of an independent examination", or •the accounts have not teen wepared in accordan with the Charitie3 SORP (FRS102) IER October 2018
I have no concems and have come atxoss no other matters in connection with examination to vthich attention should be drawn in this report in order to enable a prow understanding of the accounts to reached. ' Please delete the wvrds in the brKkets rfthey (kn not appty. Slgned: Date: ?eOP25 Name: 1103EIICK YOUNGfiiAN Relevant professlonal qualification(s) or body (If any): ONE Addr. 51 CtOTr2 weil hoA? IIICHF61EA UAW13 so22 Section B Disc105ure Only complele if the examiner needs to highlight material matters of Goncern (see CC32, IrKleperKlent examination of chanty accounts: directions and guidance for examiners). Glve here brtef d•tall• of any Items that the examlnor wl•hu to dl$¢lose. IER October 2018