2023-05-31-accounts

Gainsborough Community Wheels Unaudited financial statements

31 May 2023

Charity Registration Number 1189605

Gainsborough Community Wheels

Financial statements

Year ended 31 May 2023

	Pages
Trustees' annual report	1 to 2
Independent examiner's report to the trustees	3
Statement of financial activities	4
Statement of financial position	5
Notes to the financial statements	6 to 12
The following pages do not form part of the financial statements
Detailed statement of financial activities	14

- 1 -

Gainsborough Community Wheels

Trustees' annual report

Year ended 31 May 2023

The trustees present their report and the unaudited financial statements of the charity for the year ended 31 May 2023.

Reference and administrative details

Gainsborough Community Wheels

Registered charity name Charity registration number 1189605 Principal office Gainsborough House Parnell Street Gainsborough

The trustees

C Johnson S Norton M Thomas J Brighton Independent examiner Tom Darby FCCA 7 Spring Gardens Gainsborough

Structure, governance and management

Governing Document

Gainsborough Community Wheels is a Charitable Incorporated Organisation. The charity is governed by its constitution which was adopted on 21st May 2020.

Recruitment and Appointment of Trustees

Apart from the first charity trustees, every trustee must be appointed by a resolution passed at a properly convened meeting of the charity trustees.

In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.

- 2 -

Gainsborough Community Wheels

Trustees' annual report (continued)

Year ended 31 May 2023

Objectives and activities

The trustees confirm that they have referred to guidance contained in the Charity Commission's public benefit guidance when reviewing the charity's aims and objectives.

The objects of the charity are for the provision of transport facilities in Gainsborough and the surrounding area for people who have special need of such facilities because they are elderly, poor or disabled, people with young children or those living in isolated areas of rural Lincolnshire where there are no adequate public transport facilities.

Achievements and performance

GCW is run entirely by volunteer trustees, drivers, and administration staff. In the main drivers use their own vehicle, and a mileage charge is made to cover fuel and running costs of the scheme, we do, however, have an adapted vehicle, owned by the charity and 3 drivers are insured to drive this. Our biggest challenge remains the recruitment of volunteer drivers which is proving very difficult.

During the year we have continued to provide transport to people in Gainsborough and the surrounding area when there is no public transport service available or they are unable to physically access it.

Financial review

At the balance sheet date the charity had unrestricted reserves of £34,117. The charity does not have a reserves policy.

There are no funds in deficit.

The trustees' annual report was approved on 23 February 2024 and signed on behalf of the board of trustees by:

C Johnson Trustee

M Thomas Trustee

- 3 -

Gainsborough Community Wheels

Independent examiner's report to the trustees of Gainsborough Community Wheels

Year ended 31 May 2023

I report to the trustees on my examination of the financial statements of Gainsborough Community Wheels ('the charity') for the year ended 31 May 2023.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity's financial statements 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.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

2. the financial statements do not accord with those records; or

3. the financial statements do 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.

Tom Darby FCCA Independent Examiner

7 Spring Gardens Gainsborough

23 February 2024

- 4 -

Gainsborough Community Wheels

Statement of financial activities

Year ended 31 May 2023

		2023	2023	2022
		Unrestricted
		funds	Total funds	Total funds
	Note	£	£	£
Income and endowments
Donations and legacies	4	3,878	3,878	23,030
Charitable activities	5	26,275	26,275	21,115
		ৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄ
Total income		30,153	30,153	44,145
		৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶
Expenditure
Expenditure on charitable activities	6,7	29,678	29,678	26,680
		ৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄ
Total expenditure		29,678	29,678	26,680
		৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶
		ৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄ
Net income and net movement in funds		475	475	17,465
		৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶
Reconciliation of funds
Total funds brought forward		33,642	33,642	16,177
		ৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄ
Total funds carried forward		34,117	34,117	33,642
		৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 6 to 12 form part of these financial statements.

- 5 -

Gainsborough Community Wheels

Statement of financial position

31 May 2023

				2022
	Note		£		£
Fixed assets
Tangible fixed assets	11		5,004		6,673
Current assets
Debtors	12	2,466		3,004
Cash at bank and in hand		30,399		27,674
		ৄৄৄৄৄৄৄৄ		ৄৄৄৄৄৄৄৄ
		32,865		30,678
Creditors: amounts falling due
within one year	13	3,752		3,709
		ৄৄৄৄৄৄৄৄ		ৄৄৄৄৄৄৄৄ
Net current assets			29,113		26,969
			ৄৄৄৄৄৄৄৄ		ৄৄৄৄৄৄৄৄ
Total assets less current liabilities			34,117		33,642
			ৄৄৄৄৄৄৄৄ		ৄৄৄৄৄৄৄৄ
Net assets			34,117		33,642
			৶৶৶৶৶৶৶৶		৶৶৶৶৶৶৶৶
Funds of the charity
Unrestricted funds			34,117		33,642
			ৄৄৄৄৄৄৄৄ		ৄৄৄৄৄৄৄৄ
Total charity funds	14		34,117		33,642
			৶৶৶৶৶৶৶৶		৶৶৶৶৶৶৶৶

These financial statements were approved by the board of trustees and authorised for issue on 23 February 2024, and are signed on behalf of the board by:

C Johnson Trustee

M Thomas Trustee

The notes on pages 6 to 12 form part of these financial statements.

- 6 -

Gainsborough Community Wheels

Notes to the financial statements

Year ended 31 May 2023

1. General information

The charity is a public benefit entity and a registered charity in England and Wales and is a charitable incorporated organisation. The address of the principal office is Gainsborough House, Parnell Street, Gainsborough.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

- 7 -

Gainsborough Community Wheels

Notes to the financial statements (continued)

Year ended 31 May 2023

3. Accounting policies (continued)

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

• income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

• legacy income is recognised when receipt is probable and entitlement is established.

• income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.

• income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

• expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.

• expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

• other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

- 8 -

Gainsborough Community Wheels

Notes to the financial statements (continued)

Year ended 31 May 2023

3. Accounting policies (continued)

Tangible assets (continued)

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Motor vehicles - 25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

- 9 -

Gainsborough Community Wheels

Notes to the financial statements (continued)

Year ended 31 May 2023

3. Accounting policies (continued)

Financial instruments (continued)

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Donations and legacies

		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2023	Funds	2022
		£	£	£	£
	Donations
	Donations	3,878	3,878	23,030	23,030
		৶৶৶৶৶৶৶	৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶
5.	Charitable activities
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2023	Funds	2022
		£	£	£	£
	Driving income	25,940	25,940	20,734	20,734
	LCC - telephone & admin	335	335	381	381
		ৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄ
		26,275	26,275	21,115	21,115
		৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶

- 10 -

Gainsborough Community Wheels

Notes to the financial statements (continued)

Year ended 31 May 2023

6. Expenditure on charitable activities by fund type

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2023	Funds	2022
	£	£	£	£
Provision of transport	28,851	28,851	25,906	25,906
Support costs	827	827	774	774
	ৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄ
	29,678	29,678	26,680	26,680
	৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶

7. Expenditure on charitable activities by activity type

	Activities
	undertaken		Total funds	Total fund
	directly Support costs		2023	2022
	£	£	£	£
Provision of transport	28,851	–	28,851	25,906
Governance costs	–	827	827	774
	ৄৄৄৄৄৄৄৄ	ৄৄৄৄ	ৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄ
	28,851	827	29,678	26,680
	৶৶৶৶৶৶৶৶	৶৶৶৶	৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶

8. Net income

Net income is stated after charging/(crediting):

Net income is stated after charging/(crediting):
	2023	2022
	£	£
Depreciation of tangible fixed assets	1,669 ৶৶৶৶৶৶৶	1,932 ৶৶৶৶৶৶৶

9. Staff costs

The total staff costs and employee benefits for the reporting period was £nil.

10. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.

During the year 2 (2022 - 2) trustees were reimbursed expenses of £9,572 (2022 - £6,038) for driving costs and 1 (2022 - 1) trustee was reimbursed expenses of £284 (2022 - £396) for travel expenses.

- 11 -

Gainsborough Community Wheels

Notes to the financial statements (continued)

Year ended 31 May 2023

11.	Tangible fixed assets
			Plant and	Motor
			machinery	vehicles	Total
	Cost
	At 1 June 2022 and 31 May 2023		2,047	6,995	9,042
			৶৶৶৶৶৶৶	৶৶৶৶৶৶৶	৶৶৶৶৶৶৶
	Depreciation
	At 1 June 2022		292	2,077	2,369
	Charge for the year		439	1,230	1,669
			ৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄ
	At 31 May 2023		731	3,307	4,038
			৶৶৶৶৶৶৶	৶৶৶৶৶৶৶	৶৶৶৶৶৶৶
	Carrying amount
	At 31 May 2023		1,316	3,688	5,004
			৶৶৶৶৶৶৶	৶৶৶৶৶৶৶	৶৶৶৶৶৶৶
	At 31 May 2022		1,755	4,918	6,673
			৶৶৶৶৶৶৶	৶৶৶৶৶৶৶	৶৶৶৶৶৶৶
12.	Debtors
				2023	2022
				£	£
	Trade debtors			2,466	3,004
				৶৶৶৶৶৶৶	৶৶৶৶৶৶৶
13.	Creditors: amounts falling due within	one year
				2023	2022
				£	£
	Trade creditors			2,150	2,935
	Accruals and deferred income			1,602	774
				ৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄ
				3,752	3,709
				৶৶৶৶৶৶৶	৶৶৶৶৶৶৶
14.	Analysis of charitable funds
	Unrestricted funds
		At			At
		1 June 2022	Income	Expenditure	31 May 2023
		£	£	£	£
	General funds	33,642	30,153	(29,678)	34,117
		৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶
		At			At
		1 June 2021	Income	Expenditure	31 May 2022
		£	£	£	£
	General funds	16,177 ৶৶৶৶৶৶৶৶	44,145 ৶৶৶৶৶৶৶৶	(26,680) ৶৶৶৶৶৶৶৶	33,642 ৶৶৶৶৶৶৶৶

- 12 -

Gainsborough Community Wheels

Notes to the financial statements (continued)

Year ended 31 May 2023

15. Analysis of net assets between funds

	Unrestricted	Total Funds
	Funds	2023
	£	£
Tangible fixed assets	5,004	5,004
Current assets	32,865	32,865
Creditors less than 1 year	(3,752)	(3,752)
	ৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄ
Net assets	34,117	34,117
	৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶
	Unrestricted	Total Funds
	Funds	2022
	£	£
Tangible fixed assets	6,673	6,673
Current assets	30,678	30,678
Creditors less than 1 year	(3,709)	(3,709)
	ৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄ
Net assets	33,642	33,642
	৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶

- 13 -

Gainsborough Community Wheels

Management information

Year ended 31 May 2023

The following pages do not form part of the financial statements.

- 14 -

Gainsborough Community Wheels

Detailed statement of financial activities

Year ended 31 May 2023

	2023	2022
	£	£
Income and endowments
Donations and legacies
Donations	3,878	23,030
	ৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄ
Charitable activities
Driving income	25,940	20,734
LCC - telephone & admin	335	381
	ৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄ
	26,275	21,115
	ৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄ
	ৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄ
Total income	30,153	44,145
	৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶
Expenditure
Expenditure on charitable activities
Driver costs	20,480	15,644
Rent	2,091	2,082
Repairs and maintenance	175	178
Motor vehicle expenses	2,561	4,733
Travel costs	253	323
Accountancy fees	827	774
Telephone	337	344
Other office costs	970	492
General expenses	100	90
Bank charges	165	88
Subscriptions	50	–
Depreciation	1,669	1,932
	ৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄ
	29,678	26,680
	ৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄ
	ৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄ
Total expenditure	29,678	26,680
	৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶
	ৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄ
Net income	475	17,465
	৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶