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2024-12-31-accounts

THE BUS ARCHIVE

(A CHARITABLE INCORPORATED ORGANISATION)

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

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 2024

Trustees

Mr Neil Barker (retired and reappointed, 22 August 2024) Mr Leon Daniels (retired and reappointed, 22 Aug 2024) Mr Giles Fearnley

Mr Brian King (retired and reappointed on 22 August 2024) Mr Philip Kirk (appointed by The Omnibus Society) Mr Julian Peddle (appointed by The Omnibus Society) 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 2024

The Trustees of The Bus Archive (‘the charity’) present their report and accounts for the year ended 31 December 2024.

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 Icharlty nurnber 1177343) IACHARITABLE INCORPORATED ORGANISATION) TRUSTEE5' REPORT FOR THE YEAR ENDED 31 DECEMBER 20241contlnuedl Summary of activrtio8 In the perlod Foll¢)wing the conslderable exp8nditur8 in 2023 on the new building at Droitwich. 2024 has returned to a more nornial pattem. Th8 numb8r of r8search8rs using our facilbties has increased, with 146 vislting in 2024. The Omnibu5 Society has very kindty agreed to convert its loan of £250,000 into a donation and this is refiecl8d in accounts. Outrgach was malntained through regular artid88 In publications such as Buses, Classlc Bus and The Omnibus Magazine, and prèsentallons to sewa enthusiasts. groups. We were also contlnued lo receive several archive colledlons frc(n bus fAynpanies and enthusiasts. Financially, a surplus in nomal business (before the donation from the Omnibus Society. and last year before building costs) of £19.696 {2023'. £13,160) was achieved, and our unrestrided re8eNes Inueas8d to £1,339.266. Trusleos, responslbllltlos The trustees are responsible for preparing the Trustees, Annual Report and the accounts In accordance wilh applicable18w and UK Generally AccoPt8d Accounling Practi¢8. The truste8s have overall responsibilty for ensuring that the charlty has appropriate systems of control, financi81 and oth8rwlse. They are r8sponslble for keeplng proper accounting records which dlsdose vAth re880nable accuracy al any tlme thg financial positlon of the ¢harity- They ar8 also r8sponsible for safeguarding th8 assets of the charity and hence for taking reasonablè steps for the preventlon and detecllon of fraud and other irregularities. This report was approved by the trustees on 14 April 2025 and signed on its behalf by.. Brfan King, Chairman

THE BUS ARCHIVE (Charity number 1177343) INDEPENDENT EXAMINER’S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 December 2024.

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……………………………………….. 7 May 2025

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 2024

Note
Incoming resources
Donations and legacies received
3
Charitable activities
Income from trading activities
4
Income from investments
5
Total
Resources expended
Raising funds
6
Charitable activities
7
Total
Net income/(expenditure) before
investment gains/(losses)
Net gains/(losses) on investments
Net income/(expenditure)
Net movement in funds
Reconciliation of funds:
Total funds brought forward
16
Transfer between funds
Total funds carried forward		 2024
2023
£
£
328,453
122,738
11,032
4,525
49,467
66,675
9,618
16,658
398,570
210,596
10,010
11,168
119,410
545,512
129,420
556,680
269,150
(346,084)
546
1,431
269,696
(344,653)
269,696
(344,653)
1,069,570
1,414,223
0
0
1,339,266
1,069,570

During 2024 all transactions related to unrestricted activities; there are no longer any restricted funds.

6

THE BUS ARCHIVE (Charity number 1177343) BALANCE SHEET AT 31 DECEMBER 2024

Note
Fixed assets
Tangible assets
10
Total fixed assets
Current assets
Debtors
11
Investments
12
Cash at bank and in hand
13
Total current assets
Creditors: amounts falling due within one year
14
Net current assets/(liabilities)
Total assets less current liabilities
Creditors: amounts falling due after one year
15
Total net assets or liabilities
Funds of the Charity
Unrestricted funds
16
Restricted Funds
16
Total funds		 2024
2023
£
£
1,326,261
1,329,857
1,326,261
1,329,857
13,702
25,287
13,400
12,854
143,838
106,051
170,940
144,192
7,935
4,479
163,005
139,713
1,489,266
1,469,570
150,000
400,000
1,339,266
1,069,570
1,339,266
1,069,570
0
0
1,339,266
1,069,570

These accounts were approved by the Board of Trustees on 14 April 2025 and signed on their behalf by

…………………………………… PS Russell Trustee

7

THE BUS ARCHIVE (Charity number 1177343) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

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

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.

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 2024

Note 3: Donations and legacies
Other donations and gifts
Gift Aid
Legacies
Total
Note 4: Income from trading activities
Sales of donated material
Total
Note 5: Income from investments
rental income
Interest income
Total
Note 6: resources expended on raising funds
Advertising, marketing and publicity
Total
Note 7: resources expended on charitable activities
Library and archive materials
Running costs
Total		 2024
2023
£
£
322,968
104,278
5,485
18,460
0
0
328,453
122,738
49,467
66,675
49,467
66,675
6,240
6,240
3,378
10,418
9,618
16,658
10,010
11,168
10,010
11,168
8,522
14,806
110,888
530,706
119,410
545,512

9

THE BUS ARCHIVE (Charity number 1177343) NOTES TO THE ACCOUNTS (continued) FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024

2024 2023
£ £
Note 8: Fee for the examination of the accounts
Independent examiner’s fees 1,200 1,200
Other fees 0 0
Note 9: Staff costs
Salaries and wages 15,073 14,839
Social security costs 0 0
Pension costs (defined contribution scheme) 0 0
Total 15,073 14,839
Average number of employees during the period 2 (2023 - 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
£
£
£
£
£
348,943 766,522 636,248 42,282 1,793,995
- 721 5,246 4,259 10,226
- -
- -
- - - - -
348,943
767,243
641,494
46,541
1,804,221
Freehold land &
buildings
Other land &
buildings
Plant,
machinery
and motor
vehicles
Fixtures,
fittings and
equipment
Total
£
£
£
£
£
- - 433,876 30,262 464,138
- - - - -
- - 8,642 5,180 13,822
- - - - -
0
0
442,518
35,442
477,960

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.

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 348,943 766,522 202,372 12,020 1,329,857
Net book value at the end of the period 348,943 767,243 198,976 11,099 1,326,261

10

THE BUS ARCHIVE (Charity number 1177343) NOTES TO THE ACCOUNTS (continued) FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024

Note 11: Debtors and prepayments

Trade debtors
Prepayments and accrued income
Other debtors - HMRC gift aid receivable
Total
Note 12. Investments
Valuation
At the beginning of the year
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
Note 15: Creditors falling due after one year
Loan from The Omnibus Society
Loan from Mr J Peddle (trustee)		 2024
2023
£
£
3,567 1,517
4,696 5,332
5,439 18,438
13,702
25,287
Other
investments
Total
£
£
12,854
12,854
546
546
13,400
13,400
2024
2023
9,311
9,311
2024
2023
£
£
132,155 98,629
11,683 7,422
143,838
106,051
2024
2023
£
£
6,185
3,479
1,750
1,000
7,935
4,479
2024
2023
£
£
0
250,000
150,000
150,000
150,000
400,000

The loan from the Omnibus Society was coverted to a donation in December 2024. The loan from Mr J Peddle is for a ten-year term at zero interest, repayable on 30 June 2033.

At the beginning of the year
Incoming resources
Investments – unrealised gains/(losses)
Investments – realised gains/(losses)
Resources expended
At end of the year
Note 16: Movement in Funds		 2024
2023
£
£
1,069,570 1,414,223
398,570 210,596
546
1,431
-
(129,420)
(556,680)
1,339,266
1,069,570

Note 17: Trustees' expenses

No trustees have been reimbursed expenses.

11