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2023-12-31-accounts

THE BUS ARCHIVE

(A CHARITABLE INCORPORATED ORGANISATION)

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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 2023

Trustees Mr Neil Barker
Mr Leon Daniels
Mr Giles Fearnley
Mr Brian King
Mr Philip Kirk (appointed by The Omnibus Society;
retired and reappointed on 14 August 2023)
Mr Julian Peddle (appointed by The Omnibus Society;
retired and reappointed on 14 August 2023)
Mr Patrick Russell (appointed by The Omnibus Society)
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 2023

The Trustees of The Bus Archive (‘the charity’) present their report and accounts for the year ended 31 December 2023.

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:

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 2023

I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 December 2023.

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:

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:

…………………………………

Dated 27.08.24

Mr S Kay ACA Chartered Accountants 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 ENDED 31 DECEMBER 2023

Unrestricted Restricted Total Total
Funds Funds Funds Funds
Note 2023 2023 2023 2022
£ £ £ £
Incoming resources
Donations and legacies received 3 51,417 71,321 122,738 215,379
Charitable activities 4,525 0 4,525 7,876
Income from trading activities 4 66,675 0 66,675 68,809
Income from investments 5 16,658 0 16,658 8,846
Total 139,275 71,321 210,596 300,910
Resources expended
Raising funds 6 11,168 0 11,168 14,666
Charitable activities 7 116,378 429,134 545,512 85,850
Total 127,546 429,134 556,680 100,516
Net income/(expenditure) before
investment gains/(losses)		 11,729 (357,813) (346,084) 200,394
Net gains/(losses) on investments 1,431 0 1,431 (1,129)
Net income/(expenditure) 13,160 (357,813) (344,653) 199,265
Net movement in funds 13,160 (357,813) (344,653) 199,265
Reconciliation of funds:
Total funds brought forward 16 1,056,410 357,813 1,414,223 1,214,958
Transfer between funds 0 0 0 0
Total funds carried forward 1,069,570 0 1,069,570 1,414,223

6

THE BUS ARCHIVE {Charity number 11773431 BALANCE SHEET AT 31 DECEMBER 2023 Unrestricted Funds Restrlrted Funds Total Funds Total Funds 2023 2023 2023 2022 Note Fixed assets Tangible assets 10 1,329,857 1,329,857 1.116,230 Total fixed assets 1,329,857 1,329,857 1,116,230 Current assets Debtors Investments Cash at bank and in hand 25,287 12,854 106.051 25.287 12,854 1 OS,051 34,433 11,423 509,492 12 13 Total current assets 144.192 144,192 555,348 Creditors: amounts falling due within one year 14 4,479 4,479 7,355 Net current assets/fliabllitlesJ 139,713 139.713 547.993 rotal assets 18s$ curront Ilabillties 1,469,570 1,469,570 1.664,223 Creditors: amounts falling due after one year 15 400,000 400,000 250,000 Total netassets orliabilitiTes 1,069.570 1,069,570 1.414,223 Funds of the Charity Unrestricted funds Reslricled Funds 16 16 1,089.570 1,069,570 1.056,410 357,813 1 414,223 Total funds 1.069,570 1,069,570 These accounts were approved by the Board of Trustees on 22 August 2024 and signed on their behalf by PS Russe Trustee

THE BUS ARCHIVE (Charity number 1177343) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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: Plant and machinery – 4% straight line;

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 ENDED 31 DECEMBER 2023

Unrestricted Restricted Total Total
Funds Funds Funds Funds
2023 2023 2023 2022
£ £ £ £
Note 3: Donations and legacies
Other donations and gifts 36,648 67,630 104,278 188,635
Gift Aid 14,769 3,691 18,460 23,244
Legacies 0 0 0 3,500
Total 51,417 71,321 122,738 215,379
Note 4: Income from trading
activities
Sales of donated material 66,675 0 66,675 67,774
OSMART catalogue subscriptions 0 0 0 1,035
Total 66,675 0 66,675 68,809
Note 5: Income from investments
rental income 6,240 0 6,240 6,240
Interest income 10,418 0 10,418 2,606
Total 16,658 0 16,658 8,846
Note 6: resources expended on raising funds
Advertising, marketing and publicity 11,168 0 11,168 11,788
Other trading activities 0 0 0 2,878
Total 11,168 0 11,168 14,666
Note 7: resources expended on charitable activities
Library and archive materials 14,806 0 14,806 22,648
Running costs 101,572 429,134 530,706 63,202
116,378 429,134 545,512 85,850

9

THE BUS ARCHIVE (Charity number 1177343) NOTES TO THE ACCOUNTS (continued) FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023

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
Total
Funds
Funds
Funds
Funds
2023
2023
2023
2022
£
£
£
£
1,200
0 1,200
480
0
0
0
0
14,839
- 14,839 13,074
0
0
0
0
0
0		 Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
2023
2023
2023
2022
£
£
£
£
1,200
0 1,200
480
0
0
0
0
14,839
- 14,839 13,074
0
0
0
0
0
0		 Total
Funds
14,839 0
14,839
13,074
2 (2022 - 2)

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
£
£
£
£
£
348,943 766,522 - 26,673 1,142,138
- - 636,248 15,609 651,857
- - - - -
- - - - -
348,943
766,522
636,248
42,282
1,793,995
Freehold land &
buildings
Other land &
buildings
Plant,
machinery
and motor
vehicles
Fixtures,
fittings and
equipment
Total
£
£
£
£
£
- - - 25,908 25,908
- - - - -
- - 8,432 4,354 12,786
- - 425,444 - 425,444
0
0
433,876
30,262
464,138

Depreciation of plant and machinery is calculated on a straight-line basis at 4% per annum. Depreciation of fixtures, fittings and equipment is calculated on a straight-line basis at 25% per annum. The value of the new pod and rolling racking has been reduced by £425,444 to reflect its long term value.

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 348,943 766,522 - 765 1,116,230
Net book value at the end of the period 348,943 766,522 202,372 12,020 1,329,857

10

THE BUS ARCHIVE (Charity number 1177343) NOTES TO THE ACCOUNTS (continued) FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023

Note 11: Debtors and prepayments
Note 11: Debtors and prepayments Unrestricted Restricted Total Total
Funds Funds Funds Funds
2023 2023 2023 2022
£ £ £ £
Trade debtors 1,517 - 1,517 3,250
Stock (of storage media) - - - 3,510
Prepayments and accrued income 5,332 - 5,332 4,521
Other debtors - HMRC gift aid receivable 18,438 - 18,438 23,152
Total 25,287 0 25,287 34,433
Note 12. Investments Other
investments		 Total
Valuation £ £
At the beginning of the year 11,423 11,423
Realised and unrealised gains/(losses) 1,431 1,431
At end of the year 12,854 12,854
2023 2022
Historical Cost as at 31 December 9,311 9,311
Note 13: Cash at bank and in hand Unrestricted Restricted Total Total
Funds Funds Funds Funds
2023 2023 2023 2022
£ £ £ £
Short term deposits 98,629 0 98,629 493,758
Cash at bank and on hand 7,422 0 7,422 15,734
Total 106,051 0 106,051 509,492
Note 14: Creditors and accruals
Trade Creditors 3,479 0 3,479 6,555
Accruals and deferred income 1,000 0 1,000 800
Total 4,479 0 4,479 7,355
Note 15: Creditors falling due after one year
Loan from The Omnibus Society 250,000 0 250,000 250,000
Loan from Mr J Peddle (trustee) 150,000 0 150,000 0
400,000 0 400,000 250,000
The loan from the Omnibus Society is for a five-year term at zero interest, repayable on 31 March 2026.
The loan from Mr J Peddle is for a ten-year term at zero interest, repayable on 30 June 2033.
Unrestricted Restricted Total Total
Funds Funds Funds Funds
Note 16: Movement in Funds 2023 2023 2023 2022
£ £ £ £
At the beginning of the year 1,056,410 357,813 1,414,223 1,214,958
Incoming resources 139,275 71,321 210,596 300,910
Investments – unrealised gains/(losses) 1,431 0 1,431 (1,129)
Investments – realised gains/(losses) 0 0 - -
Transfer between funds 0 0 - -
Resources expended (127,546) (429,134) (556,680) (100,516)
At end of the year 1,069,570 0 1,069,570 1,414,223

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 expended from restricted funds represents the amounts spent on the new building.

Note 17: Trustees' expenses

No trustees have been reimbursed expenses.

11