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2024-05-31-accounts

Gainsborough Community Wheels Unaudited financial statements

31 May 2024

Charity Registration Number 1189605

Gainsborough Community Wheels

Financial statements

Year ended 31 May 2024

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 11
The following pages do not form part of the financial statements
Detailed statement of financial activities 13

- 1 -

Gainsborough Community Wheels

Trustees' annual report

Year ended 31 May 2024

The trustees present their report and the unaudited financial statements of the charity for the year ended 31 May 2024.

Reference and administrative details

Registered charity name Gainsborough Community Wheels 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.

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.

- 2 -

Gainsborough Community Wheels

Trustees' annual report (continued)

Year ended 31 May 2024

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 £35,602.

The charity does not have a reserves policy. There are no funds in deficit.

The trustees' annual report was approved on 11 October 2024 and signed on behalf of the board of trustees by:

C Johnson M Thomas Trustee Trustee

- 3 -

Gainsborough Community Wheels

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

Year ended 31 May 2024

I report to the trustees on my examination of the financial statements of Gainsborough Community Wheels ('the charity') for the year ended 31 May 2024.

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

11 October 2024

- 4 -

Gainsborough Community Wheels

Statement of financial activities

Year ended 31 May 2024

2024 2024 2023
Unrestricted
funds Total funds Total funds
Note £ £ £
Income and endowments
Donations and legacies 4 4,384 4,384 3,878
Charitable activities 5 22,647 22,647 26,275
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
Total income 27,031 27,031 30,153
৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶
Expenditure
Expenditure on charitable activities 6,7 25,546 25,546 29,678
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
Total expenditure 25,546 25,546 29,678
৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
Net income and net movement in funds 1,485 1,485 475
৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶
Reconciliation of funds
Total funds brought forward 34,117 34,117 33,642
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
Total funds carried forward 35,602 35,602 34,117
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 11 form part of these financial statements.

- 5 -

Gainsborough Community Wheels

Statement of financial position

31 May 2024

2024 2023
Note £ £ £ £
Fixed assets
Tangible fixed assets 11 3,752 5,004
Current assets
Debtors 12 1,747 2,466
Cash at bank and in hand 32,798 30,399
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
34,545 32,865
Creditors: amounts falling due
within one year 13 2,695 3,752
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
Net current assets 31,850 29,113
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
Total assets less current liabilities 35,602 34,117
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
Net assets 35,602 34,117
৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶
Funds of the charity
Unrestricted funds 35,602 34,117
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
Total charity funds 14 35,602 34,117
৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶

These financial statements were approved by the board of trustees and authorised for issue on 11 October 2024, and are signed on behalf of the board by:

C Johnson Trustee

M Thomas Trustee

The notes on pages 6 to 11 form part of these financial statements.

- 6 -

Gainsborough Community Wheels

Notes to the financial statements

Year ended 31 May 2024

1. General information

The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. 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 2024

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:

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:

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 2024

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

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 2024

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 2024 Funds 2023
£ £ £ £
Donations
Donations 4,384 4,384 3,878 3,878
৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶
Charitable activities
Unrestricted Total Funds Unrestricted Total Funds
Funds 2024 Funds 2023
£ £ £ £
Driving income 22,274 22,274 25,940 25,940
LCC - telephone & admin 373 373 335 335
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
22,647 22,647 26,275 26,275
৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶
Expenditure on charitable activities by fund type
Unrestricted Total Funds Unrestricted Total Funds
Funds 2024 Funds 2023
£ £ £ £
Provision of transport 24,718 24,718 28,851 28,851
Support costs 828 828 827 827
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
25,546 25,546 29,678 29,678
৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶

5. Charitable activities

6. Expenditure on charitable activities by fund type

- 10 -

Gainsborough Community Wheels

Notes to the financial statements (continued)

Year ended 31 May 2024

7. Expenditure on charitable activities by activity type

Activities
undertaken Total funds Total fund
directly Support costs 2024 2023
£ £ £ £
Provision of transport 24,718 24,718 28,851
Governance costs 828 828 827
ৄৄৄৄৄৄৄৄ ৄৄৄৄ ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
24,718 828 25,546 29,678
৶৶৶৶৶৶৶৶ ৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶

8. Net income

Net income is stated after charging/(crediting):

Net income is stated after charging/(crediting):
2024 2023
£ £
Depreciation of tangible fixed assets 1,252
৶৶৶৶৶৶৶
1,669
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 £8,557 (2022 - £9,572) for driving costs and 1 (2023 - 1) trustee was reimbursed expenses of £300 (2022 - £284) for travel expenses.

11. Tangible fixed assets

Plant and Motor
machinery vehicles Total
£ £ £
Cost
At 1 June 2023 and 31 May 2024 2,047 6,995 9,042
৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶
Depreciation
At 1 June 2023 731 3,307 4,038
Charge for the year 330 922 1,252
ৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄ
At 31 May 2024 1,061 4,229 5,290
৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶
Carrying amount
At 31 May 2024 986 2,766 3,752
৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶
At 31 May 2023 1,316 3,688 5,004
৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶

- 11 -

Gainsborough Community Wheels

Notes to the financial statements (continued)

Year ended 31 May 2024

12. Debtors

2024 2023
£ £
Trade debtors 1,737 2,466
Prepayments and accrued income 10
ৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄ
1,747 2,466
৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶
13. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 1,867 2,150
Accruals and deferred income 828 1,602
ৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄ
2,695 3,752
৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶
14. Analysis of charitable funds
Unrestricted funds
At At
1 June 2023 Income Expenditure 31 May 2024
£ £ £ £
General funds 34,117 27,031 (25,546) 35,602
৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶
At At
1 June 2022 Income Expenditure 31 May 2023
£ £ £ £
General funds 33,642 30,153 (29,678) 34,117
৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶
15. Analysis of net assets between funds
Unrestricted Total Funds
Funds 2024
£ £
Tangible fixed assets 3,752 3,752
Current assets 34,545 34,545
Creditors less than 1 year (2,695) (2,695)
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
Net assets 35,602 35,602
৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶
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

- 12 -

Gainsborough Community Wheels

Management information

Year ended 31 May 2024

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

- 13 -

Gainsborough Community Wheels

Detailed statement of financial activities

Year ended 31 May 2024

2024 2023
£ £
Income and endowments
Donations and legacies
Donations 4,384 3,878
ৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄ
Charitable activities
Driving income 22,274 25,940
LCC - telephone & admin 373 335
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
22,647 26,275
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
Total income 27,031 30,153
৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶
Expenditure
Expenditure on charitable activities
Driver costs 17,402 20,480
Rent 2,080 2,091
Repairs and maintenance 175
Motor vehicle expenses 2,323 2,561
Travel costs 270 253
Accountancy fees 828 827
Telephone 391 337
Other office costs 707 970
General expenses 85 100
Bank charges 158 165
Subscriptions 50 50
Depreciation 1,252 1,669
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
25,546 29,678
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
Total expenditure 25,546 29,678
৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
Net income 1,485 475
৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶