## **THE BUS ARCHIVE**
## **(A CHARITABLE INCORPORATED ORGANISATION)**
## **TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **CHARITY NUMBER: 1177343**
## **CONTENTS**
||Page|
|---|---|
|Legal and administrativeinformation|2|
|Trustees’ Report|3 - 4|
|Independent Examiner’s Report|5|
|Statement of Financial Activities|6|
|Balance Sheet|7|
|Notes to the FinancialActivities|8 - 11|
1
## **THE BUS ARCHIVE (Charity number 1177343) (A CHARITABLE INCORPORATED ORGANISATION)**
## **LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2022**
**Trustees** Mr Neil Barker Mr David Beaman (retired 22 August 2022) Mr Leon Daniels Mr Giles Fearnley (appointed 22 August 2022) Mr Brian King Mr Philip Kirk (appointed by The Omnibus Society) Mr Julian Peddle (appointed by The Omnibus Society) Mr Patrick Russell (appointed by The Omnibus Society, retired and re-appointed 22 August 2022)
**Secretary** Mr Patrick Russell **Charity Number** 1177343 **Principal Office & Registered Office** 100 Sandwell Street Walsall WS1 3EB **Reporting Accountants** The Barker Partnership Chartered Accountants 44 Kirkgate Ripon North Yorkshire HG4 1PB
2
## **THE BUS ARCHIVE (Charity number 1177343) (A CHARITABLE INCORPORATED ORGANISATION)**
## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022**
The Trustees of The Bus Archive (‘the charity’) present their report and accounts for the year ended 31 December 2022.
## **Constitution and Objects**
The organisation is a Charitable Incorporated Organisation (CIO), incorporated on 27 February 2018.
The objects of the CIO are to advance the education of the public in the evolution and history of the transportation of people and tangible goods and in particular road passenger transport in the United Kingdom by any or all of the following means:
- (a) collecting, procuring and preserving, records (of a factual and/or subjective nature), drawings, photographs, films, publications and any other materials relating to the subject ( **Materials** ); and
- (b) establishing and maintaining not less than one archive and library preserving the Materials, open to the public for study and research.
## **Trustees, Trustees and Principal Officers**
The trustees of the charitable company are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees. The trustees that served in the period are shown on page 2. New trustees are selected based on the skills they can provide in order to ensure proper governance of the company. Prospective trustees are interviewed and when appointed provided with appropriate induction. Trustees serve for a period of three years and are then eligible for re-election.
## **Public benefit**
The trustees have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular the trustees consider how activities will contribute to the aims and objectives they have set.
## **Reserves policy**
The Trustees have reviewed the charity’s requirements for reserves in light of the main risks to the organisation. The reserves are needed to meet the working capital requirements of the charity on an annual basis and the trustees are mindful of the need to keep the unrestricted reserves at a level which will meet these requirements.
3
##
##
##
## **THE BUS ARCHIVE (Charity number 1177343) INDEPENDENT EXAMINER’S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022**
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 December 2022.
## **Responsibilities and basis of report**
As the charity trustees, you are responsible for the preparation of the accounts in accordance with the Charities Act 2011 (“the Act”).
## **Independent examiner's statement**
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.
I have completed my examination. I confirm that no material matters have come 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 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.
## 24th August 2023
Signed: ………………………………… Dated………………………………………..
Mr S Kay FCCA ACA
The Barker Partnership 44 Kirkgate Ripon North Yorkshire HG4 1PB
5
## **THE BUS ARCHIVE (Charity number 1177343) STATEMENT OF FINANCIAL ACTIVITIES FOR THE FINANCIAL YEAR ENDING 31 DECEMBER 2022**
|||**Unrestricted**|**Restricted**|**Total**|**Total**|
|---|---|---|---|---|---|
|||**Funds**|**Funds**|**Funds**|**Funds**|
||**Note**|**2022**|**2022**|**2022**|**2021**|
|||**£**|**£**|**£**|**£**|
|**Incoming resources**||||||
|Donations and legacies received|3|52,972|162,407|215,379|266,915|
|Charitable activities||7,876|0|7,876|1,153|
|Income from trading activities|4|68,809|0|68,809|85,007|
|Income from investments|5|8,846|0|8,846|6,278|
|**Total**||**138,503**|**162,407**|**300,910**|**359,353**|
|**Resources expended**||||||
|Raising funds|6|14,666|0|14,666|20,952|
|Charitable activities|7|85,850|0|85,850|76,841|
|**Total**||**100,516**|**0**|**100,516**|**97,793**|
|**Net income/(expenditure) before**
**investment gains/(losses)**||**37,987**|**162,407**|**200,394**|**261,560**|
|Net gains/(losses) on investments||(1,129)|0|(1,129)|4,834|
|**Net income/(expenditure)**||**36,858**|**162,407**|**199,265**|**266,394**|
|**_Net movement in funds_**||**36,858**|**162,407**|**199,265**|**266,394**|
|**_Reconciliation of funds:_**||||||
|Total funds brought forward|16|1,003,030|211,928|1,214,958|948,564|
|Transfer between funds|16|16,522|(16,522)|0|0|
|**_Total funds carried forward_**||**1,056,410**|**357,813 **|**1,414,223**|**1,214,958**|
6
THE BUS ARCHIVE (Chartty number 1177343)
BALANCE SHEET
AT 31 DECEMBER 2022
Unrestricted
Funds
Restrlded
Total
Funds
Total
2022
2022
2022
2021
Notè
Fixed assets
Tangible assets
10
1.116.230
1,116.230
1,104,019
Total flxed assets
1,116,230
1.116.230
1.104,019
Current assets
Debtors
Investments
Cash at bank and in hand
34.433
11,423
151.679
34,433
11,423
509.492
45,704
12,552
394,588
12
13
357,813
Total cunwt assets
197,535
357,813
S55,348
452.844
Credltors: amounts falling due
within one year
7,355
7,355
91,905
14
14•t cun¥nt ass0t(I18bII•I1OsJ
190.180
357.813
547.993
360.939
Total assets less cunvnt liabilities
1.306,410
357.813
1.664,223
1,464.958
Creditors: amounts falling due
after ong year
250,000
250,000
250.000
Total netassets orli8bllili
1.056,410
357.813
1 N14.223
1.214,9S8
Funds of the Charity
Unrestrided funds
Restricted Funds
16
16
1.056.410
1,056.410
357,813
1,414,223
1,003,030
211.928
1,214,958
357.813
357 813
Total funds
1,056,410
These accounts were approved by the Board of Trustees on 14 August 2023. and 8ignad on their behalf bi
PS Russell
Trustee
## **THE BUS ARCHIVE (Charity number 1177343) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## 1. **Basis of Accounting**
## **Accounting convention**
The financial statements have been prepared under the historical cost basis, as modified by the revaluation of certain fixed assets measured at fair value. The accounts have been prepared in accordance with the Financial Reporting Standard 102 (effective January 2019), and the requirements of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities (effective January 2019) (FRS SORP 2015) and with the Charities Act 2011. The charity constitutes a public benefit entity as defined by FRS 102.
## 2. **Accounting Policies**
## **2.1 Income**
## **Recognition of income**
These are included in the Statement of Financial Activities (SoFA) when; the charity becomes entitled to the resources; the trustees are virtually certain that they will receive the resources; and the monetary value can be measured with sufficient reliability.
## **Offsetting**
There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102
## **Donations and legacies**
Donations and legacies are only included in the SoFA when the charity has unconditional entitlement to the resources.
## **Tax reclaims on donations and gifts**
Gift Aid receivable is included in income when there is a valid declaration from the donor.
## **Income from investments**
Interest entitlements are accounted for as they accrue. Tax recoverable on such income is recognised in the same accounting year.
## **Volunteer help**
The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.
## **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.
## **2.2 Expenditure**
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
## **2.3 Balance sheet – Fixed assets**
## **Depreciation**
Depreciation is provided to write off the cost of each asset over its useful expected life: General equipment – 25% straight line; Library material and Buildings – none.
8
## **THE BUS ARCHIVE (Charity number 1177343) NOTES TO THE ACCOUNTS FOR THE FINANCIAL YEAR ENDING 31 DECEMBER 2022**
||**Unrestricted**|**Unrestricted**|**Restricted**|**Restricted**|**Total**|**Total**|
|---|---|---|---|---|---|---|
|||**Funds**|**Funds**||**Funds**|**Funds**|
|||**2022**|**2022**||**2022**|**2021**|
|||**£**||**£**|**£**|**£**|
|**Note 3: Donations and legacies**|||||||
|Other donations and gifts
|44,038||144,597||188,635|226,010|
|Gift Aid
||5,434|17,810||23,244|40,905|
|Legacies
||3,500|-||3,500|0|
|**Total**||**52,972**|**162,407**||**215,379**|**266,915**|
|**Note 4: Income from trading**|||||||
|**activities**|||||||
|Sales of donated material|67,774||||67,774|83,918|
|OSMART catalogue subscriptions||1,035|||1,035|1,070|
|Other||-|||0|19|
|**Total**||**68,809**||**0**|**68,809**|**85,007**|
|**Note 5: Income from investments**|||||||
|rental income||6,240|||6,240|6,240|
|Interest income||2,606|||2,606|38|
|**Total**||**8,846**||**0**|**8,846**|**6,278**|
|**Note 6: resources expended on raising funds**|||||||
|Advertising, marketing, direct mail and publicit|11,788||||11,788|17,213|
|Other trading activities
||2,878|||2,878|3,739|
|**Total**||**14,666**||**0**|**14,666**|**20,952**|
|**Note 7: resources expended on charitable activities**|||||||
|Library and archive materials|22,648||||22,648|22,233|
|Running costs|63,202||||63,202|54,608|
|||**85,850**||**0**|**85,850**|**76,841**|
9
## **THE BUS ARCHIVE (Charity number 1177343) NOTES TO THE ACCOUNTS (continued) FOR THE FINANCIAL YEAR ENDING 31 DECEMBER 2022**
|**THE BUS ARCHIVE (Charity number 1177343)**
**NOTES TO THE ACCOUNTS (continued)**
**FOR THE FINANCIAL YEAR ENDING 31 DECEMBER 2022**||||
|---|---|---|---|
|**Note 8: Fee for the examination of the accounts**
Independent examiner’s fees
Other fees
**Note 9: Staff costs**
Salaries and wages
Social security costs
Pension costs (defined contribution scheme)
**Total**
Average number of employees during the period|**Unrestricted**
**Restricted**
**Total**
**Funds**
**Funds**
**Funds**
**2022**
**2022**
**2022**
**£**
**£**
**£**
480
480
0
0
13,074
13,074
0
0
0
0||**Total**
**Funds**|
||||**2021**
**£**
480
0
6,801
0
0|
||**13,074**|**0**
**13,074**|**6,801**|
||**2 (2021 - 1)**|||
No employees received employee benefits for the reporting period of more than £60,000. No trustees received any emoluments.
## **Note 10: Tangible fixed assets**
|**Cost or valuation**
At the beginning of the year
Additions
Revaluations
Disposals
At end of the year
**Depreciation and impairments**
At the beginning of the year
Disposals
Depreciation for the year
Impairment
At end of the year|**Freehold land &**
**buildings**
**Other land &**
**buildings**
**Plant,**
**machinery**
**and motor**
**vehicles**
**Fixtures,**
**fittings and**
**equipment**
**Total**
**£**
**£**
**£**
**£**
**£**
348,943 750,000 - 26,270 1,125,213
- 16,522 - 403 16,925
- - - - -
- - - - -|
|---|---|
||**348,943**
**766,522**
**0**
**26,673**
**1,142,138**|
||**Freehold land &**
**buildings**
**Other land &**
**buildings**
**Plant,**
**machinery**
**and motor**
**vehicles**
**Fixtures,**
**fittings and**
**equipment**
**Total**
**£**
**£**
**£**
**£**
**£**
- - - 21,194 21,194
- - - - -
- - - 4,714 4,714
- - - - -|
||**0**
**0**
**0**
**25,908**
**25,908**|
Depreciation of fixtures, fittings and equipment is calculated on a straight-line basis at 25% per annum.
||**Freehold land &**|**Other land &**|**Plant,**|**Fixtures,**|**Total**|
|---|---|---|---|---|---|
||**buildings**|**buildings**|**machinery**|**fittings and**||
||||**and motor**|**equipment**||
||||**vehicles**|||
|**Net book value**|**£**|**£**|**£**|**£**|**£**|
|Net book value at the beginning of the period|348,943|750,000|-|5,076|1,104,019|
|Net book value at the end of the period|**348,943**|**766,522**|**-**|**765**|**1,116,230**|
10
## **THE BUS ARCHIVE (Charity number 1177343) NOTES TO THE ACCOUNTS (continued) FOR THE FINANCIAL YEAR ENDING 31 DECEMBER 2022**
## **Note 11: Debtors and prepayments**
|**Note 11: Debtors and prepayments**
Trade debtors
Stock (of storage media)
Prepayments and accrued income
Other debtors - HMRC gift aid receivable
**Total**
**Note 12. Investments**
**Valuation**
At the beginning of the year
Purchases
Sales
Realised and unrealised gains/(losses)
At end of the year
**Historical Cost as at 31 December**
**Note 13: Cash at bank and in hand**
Short term deposits
Cash at bank and on hand
**Total**
**Note 14: Creditors and accruals**
Trade Creditors
Accruals and deferred income
**Total**
Amount due to HMRC - repayment of VAT overclaimed *|**Unrestricted**
**Restricted**
**Total**
**Total**
**Funds**
**Funds**
**Funds**
**Funds**
**2022**
**2022**
**2022**
**2021**
**£**
**£**
**£**
**£**
3,250
- 3,250 825
3,510
- 3,510
-
4,521
- 4,521 3,975
23,152
- 23,152 40,904|
|---|---|
||**34,433**
**0**
**34,433**
**45,704**|
||**Other**
**investments**
**Total**
**£**
**£**
12,552
12,552
0
0
0
0
(1,129)
(1,129)
**11,423**
**11,423**
**2022**
**2021**
**9,311**
**9,311**
**Unrestricted**
**Restricted**
**Total**
**Total**
**Funds**
**Funds**
**Funds**
**Funds**
**2022**
**2022**
**2022**
**2021**
**£**
**£**
**£**
**£**
135,945
357,813 493,758 316,189
15,734
0 15,734 78,399|
||**151,679**
**357,813**
**509,492**
**394,588**|
||6,555
0
6,555
2,444
0
0
0
88,661
800
0
800
800|
||**7,355**
**0**
**7,355**
**91,905**|
* A VAT456 error return was submitted to HMRC in January 2022 identifying an over-claim of VAT in 2021, amounting to £88,661. This amount has now been repaid to HMRC together with interest of £851.
## **Note 15: Creditors falling due after one year**
|**Note 15: Creditors falling due after one year**|||||
|---|---|---|---|---|
|Loan from The Omnibus Society|250,000|0|250,000|250,000|
||**250,000**|**0**|**250,000**|**250,000**|
|This is a loan for a five-year term at zero interest, repayable on 31 March 2026.|||||
||**Unrestricted**|**Restricted**|**Total**|**Total**|
||**Funds**|**Funds**|**Funds**|**Funds**|
|**Note 16: Movement in Funds**|**2022**|**2022**|**2022**|**2021**|
||**£**|**£**|**£**|**£**|
|**At the beginning of the year**|1,003,030|211,928
|1,214,958|948,564|
|Incoming resources|138,503|162,407|300,910|359,353|
|Investments – unrealised gains/(losses)|(1,129)|0|(1,129)|1,865|
|Investments – realised gains/(losses)|0|0|-|2,969|
|Transfer between funds|16,522|(16,522)|-|-|
|Resources expended|(100,516)|0|(100,516)|(97,793)|
|**At end of the year**|**1,056,410**|**357,813**|**1,414,223**|**1,214,958**|
|The restricted fund represents monies donated as part of the Building For The Future||appeal, and are restricted for||use on|
|the purchase, re-configuring and fitting-out of the new building in Droitwich.|||||
|The amount transferred from restricted funds represents the amounts spent on the new building (the purpose for|||||
|which the restricted funds were received) and now capitalised.|||||
|**Note 17: Trustees' expenses**|||**2022**|**2021**|
||||**£**|**£**|
|One trustee has been reimbursed expenses as follows:|||||
|Travel|||**0**|**64**|
11