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2023-03-31-accounts

COMPANY REGISTRATION NO: 01509231 (ENGLAND AND WALES)

BRENT COMMUNITY TRANSPORT

COMPANY LIMITED BY GUARANTEE

FINANCIAL STATEMENTS

31 MARCH 2023

Charity Number 280698

GOLDWINS

Chartered Accountants & Statutory Auditor 75 Maygrove Road West Hampstead London NW6 2EG

BRENT COMMUNITY TRANSPORT COMPANY LIMITED BY GUARANTEE

TRUSTEES ANNUAL REPORT

YEAR ENDED 31 MARCH 2023

The trustees, who are also directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 March 2023.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered charity name Brent Community Transport Charity registration number 280698 Company registration number 01509231 Registered office Office 301 10 Courtenay Road East Lane Business Park, Wembley London HA9 7ND

The trustees The trustees who served the charity during the period were as follows: H J Sheppard Moses (Chair) Samantha Michele Banton Nola Slater Elmay Donald (Resigned September 2022) Chief Executive Officer Siamak Eynollahi (until February 2023) Moses Temporary Acting CEO) Auditor Goldwins 75 Maygrove Road West Hampstead London NW6 2EG Bankers National Westminster Kingsbury (A) Branch 567 Kingsbury Road London, NW9 9EP Solicitors Withers LLP 16 Old Bailey London EC4M 7EG

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BRENT COMMUNITY TRANSPORT COMPANY LIMITED BY GUARANTEE

TRUSTEES ANNUAL REPORT (continued)

YEAR ENDED 31 MARCH 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing Document

The charity is constituted as a company limited by guarantee and is therefore governed by a Memorandum and Articles of Association, dated 25th July 1980 and also registered with the Charity Commissioners on 21[st] August 1980.

Appointment, induction & training of Trustees

All members are circulated with invitations to nominate trustees prior to the AGM advising them of the retiring trustees and requesting nominations for the AGM. When considering co-opting trustees, the Board has regard to the requirement for any specialist skills needed.

New trustees undergo an orientation day to brief them on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision-making processes, the business plan and recent financial performance of the charity. During the induction day they meet key employees and other trustees. Trustees are encouraged to attend appropriate external training events where this will facilitate the undertaking of their role.

Organisation

The charity is organised so that the directors meet regularly to manage its affairs. There is currently one full time Chief Executive Officer (CEO) Siamak Eynollahi, who oversees the day-to-day running of the charity and organises fundraising initiatives. The other staff which total 28 ensure service delivery and development of the charity.

The Management Committee are responsible for:

The charity is supported by the Finance, General Purposes and Human Resources sub-committees. However, the sub-committees were merged from two years ago. The merged Finance, General Purposes and the Human Resources sub-committees comprises the following trustees: Moses, J Oliver and R.Bhudia.

The merged sub-committee was set up to develop the financial strategy and oversees the staffing policies, performance and training of Brent Community Transport. Their main responsibilities are:

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BRENT COMMUNITY TRANSPORT COMPANY LIMITED BY GUARANTEE

TRUSTEES ANNUAL REPORT (continued)

YEAR ENDED 31 MARCH 2023

OBJECTIVES AND ACTIVITIES

The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association. The principal object of the company is to provide and to promote the education and relieve the need, hardship, distress, sickness and mental or physical handicap of persons resident or working in the London Borough of Brent and its surrounding districts especially by:

  1. Providing transport for such persons or for the removal and storage of their goods and chattels: 2. Providing transport for statutory authorities or voluntary organisations that are engaged in promoting such education and providing such relief;

  2. Distributing to needy persons furniture which has been donated to Community Transport for that purpose.

PUBLIC BENEFIT

We have referred to the guidance contained in the Charity Commissions general guidance on public benefit when reviewing our aims and objectives and in planning our future services. In particular the board of trustees consider how our planned services will contribute to the aims and objectives they have set.

Organisation Mission Statement & Summary of Activities

Our mission is to help overcome social exclusion experienced by the more disadvantaged persons in our community by providing affordable and accessible transport to: disabled, elderly and needy individuals, voluntary & community organisations, Day centres, Nursing Homes, places of worship, Youth clubs, statutory and other organisations in order to make a difference & benefit the communities, disabled, elderly, young and other member and users of the services.

We aim to provide sustainable transport solutions and are continuously monitoring the effects of our organization on the environment by putting in place measures to reduce our carbon footprint.

Brent Community Transport (BCT) is a voluntary organisation established in 1975 and in August 1980 was registered as a charity and a company limited by Guarantee. BCT has been providing affordable and accessible transport solutions to the community, groups and individuals. Majority of our income at BCT is self-generated through service provision.

Risk management

The trustees have a risk management strategy which comprises:

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BRENT COMMUNITY TRANSPORT COMPANY LIMITED BY GUARANTEE

TRUSTEES ANNUAL REPORT (continued)

YEAR ENDED 31 MARCH 2023

The Trustees have analysed the risk of charity’s operation to identify possible risks and accordingly take required actions or have plan in place to tackle the risks. The below table will show the identified possible risks and actions taken for minimizing loss by the charity.

Charity premises (rental
from private Landlord)		 Premises has always been a challenge for BCT. Finding suitable premises
and facilities to park our vehicles have always been difficult.
The current global economic situation (energy crisis, replacement parts,
order and delivery) has without double affects us as it has with so many
others.
Global Disturbances around the world such as war in eastern Europe,
political turmoil have cause uncertainties throughout.
BCT is not unfortunately, immune to these outside influences from higher
prices and as a consequence rental of current premises gas, electricity has
gone up. BCT will endeavour to mitigate as best as possible the areas we
can conserved on.
Shortage of Drivers &
Staff		 Driver shortages is another area affecting the whole of the transport
sector. The shortage of drivers is having a huge effect on business. At
present we are able to consolidate current commitment. One thing that is
very noticeable is the level of request for one off services, probable due to
the closure of a number of neighbouring provides.
Positively, we are filling as much of the gap as possible but with the
additional drivers we can do more and we will be looking to recruit more
drivers in the coming months if not weeks. Recruiting drivers come at a
great price and wage competition and demands is a constant driving force.
Ulez The expansion of the Ulez scheme by the Mayor of London will in the long
run have a severe impact on our services as we operate monthly with in
the other London boroughs and the M25. Therefore, as policy changes and
cost are implemented, we’ll have to be very mindful of this and the ensure
that all our vehicles continue to be compliant.

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BRENT COMMUNITY TRANSPORT

COMPANY LIMITED BY GUARANTEE

TRUSTEES ANNUAL REPORT (continued)

YEAR ENDED 31 MARCH 2023

Credit Risk Management

Our recent credit risk score is still good.

The charity has not got any material doubtful debtors at the balance sheet date and all trade debtors are recoverable

Accessible vehicles & Operations

We have a range of fully accessible vehicles and standards vehicles, mostly used for either day centre and care homes, or for schools and youth centres.

The fleet of vehicles are fitted with a live vehicle tracking device which gives us real time access to the location of our vehicles, where they are going, how fast they are travelling and how far they are from the next pick up destination.

The GPS Tracking device has allowed us to monitor how effectively our drivers are performing and how productive they are resulting in a much more efficient service. It has also allowed us to observe, monitor and record fuel cost & efficiency, environment impact and it has also been of great benefit when a vehicle breakdown

C ommunity Car Scheme...Door to door accessible transport

Regrettably, this service is temporary in suspension due to lack of funding. We deem this a very valuable services as it provides door to door transport for those most need it. Our efforts are simply to source new funding stream for this to rekindle it.

Sadly, too, BCT ComRide: has come to an end due to lack of funding.

Group Transport

Group transport is clearly increasing based on the demand for quotes. As mentioned previously, we’re only hampered by the lack of available drivers to fulfil the level of (increase) demand. As more organisations such as places of worship, care homes

School Bus Service

We continue to provide School bus services to the community and educational organisations such as schools who are registered charities and or have continuous charitable activities /foundation. Home to School transport reduces car travel which is a major source of pollution and congestion on the road and around school gates and it encourages schools to produce a travel plan setting out their commitment to sustainable school travel. Group transport is also available for schools to travel to and from sports activities and school trips.

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BRENT COMMUNITY TRANSPORT COMPANY LIMITED BY GUARANTEE

TRUSTEES ANNUAL REPORT (continued)

YEAR ENDED 31 MARCH 2023

Dial-A-Ride

London Dial a Ride (DAR) is Transport for London scheme providing accessible door to door transport. It is non-chargeable service available to people who have a permanent or long term mobility limitation. Users of Dial a Ride must be members of TfL DAR prior to using it. BCT continue working on behalf of and to work in partnership with Dial a Ride. We’re pleased to say that this year, we were successful in our tender bid to provide services for another five years.

Training

Training is an integral feature of what we do in order to deliver a safe and effective services. Therefore, we regularly send drivers on CPC and Minibus Driver and Assessment Scheme (MiDAs) training and Passenger Assistant on PATs training. This help to form part of our external assessment by FORS and ISO 1501

Some of the training embarks on includes

FINANCIAL REVIEW

The Statement of Financial Activities shows incoming resources for the year of £724,638 (2022: £707,735) and total outgoing of £790,094 (2022: £818,743). The net movement in funds of -65,456 (2022: -£111,308).

BCT will continue with its vehicle replacement policies for replacement of the aged and noncomplying vehicles within the fleet to ensure compliance with environmental changes, in reducing pollution by using as minimum Euro VI, low carbon vehicles and having newer quality vehicles including looking into suitable, affordable and available electric or Hybrid vehicles for delivery of services and as part of the social value which BCT is proud of.

Reserves

The Trustees have established and maintained a policy of holding reserves to enable the charity to function for a period of three months which amounts to approximately £250,000. The charity has a number of main services of which main four of them represents over 70% of the charities total incoming resources (including donations). Therefore, the charity needs to maintain a level of reserve in order to continue its services for a further 3 months, in the hopefully unlikely event of not securing alternative and additional income stream.

Restricted Funds, the total remaining value of the capital assets from early 2017 DfT Community bus funds in the form of two accessible vehicles are reflected in the accounts accordingly, including their depreciation. The charity does not have any other restricted funds (Restricted funds are to be used for specific purpose as laid down by the donor). Expenditure, which meets these criteria, is charged to the fund together with a fair allocation of management and administrative costs.

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COMPANY LIMITED BY GUARANTEE

BRENT COMMUNITY TRANSPORT

TRUSTEES ANNUAL REPORT (continued)

YEAR ENDED 31 MARCH 2023

The general and unrestricted funds are donations and other incoming resources received or generated for charitable purposes and are the free working capital of the charity for delivery of organisation’s services in line with general objectives of the charity.

Designated funds are unrestricted funds earmarked by the management committee for particular purposes.

The charity’s total funds carried forward (Total reserves) at the year-end was £459,914 (2022: £525,370) which is made up of Fixed Assets funds which represent the net book value of fixed assets £330,140 (2022: £375,543) at 31/03/2023 including the net book value of fixed assets of the Dft community vehicles as restricted fund. The fixed assets (vehicles) are not easily exchangeable to cash. The charity’s total unrestricted funds at 31/03/2023 were £240,114 (2022: £303,570) which the trustees aim to improve non-fixed assets unrestricted reserves in the coming year(s) in line with its policies.

TRUSTEES' RESPONSIBILITIES STATEMENT

The trustees (who are also the directors of Brent Community Transport for the purposes of company law) are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and the income and expenditure of the charity for that period.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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COMPANY LIMITED BY GUARANTEE

BRENT COMMUNITY TRANSPORT

TRUSTEES ANNUAL REPORT (continued)

YEAR ENDED 31 MARCH 2023

AUDITOR

Each of the persons who is a trustee at the date of approval of this report confirms that:

Registered office: Signed on behalf of the trustees Office 301, 10 Courtenay Road East Lane Business Park Wembley HA9 7ND MOSES Chair

........................ 19 December 2023

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BRENT COMMUNITY TRANSPORT COMPANY LIMITED BY GUARANTEE

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES

YEAR ENDED 31 MARCH 2023

Opinion

We have audited the financial statements of Brent Community Transport for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet, statement of cash flows and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Opinion on financial statements

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditorʼs responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRCʼs Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditorʼs report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to

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BRENT COMMUNITY TRANSPORT COMPANY LIMITED BY GUARANTEE

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES

YEAR ENDED 31 MARCH 2023

determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of the trustees

As explained more fully in the Trustees’ Responsibilities Statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the Charityʼs ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditorʼs report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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BRENT COMMUNITY TRANSPORT COMPANY LIMITED BY GUARANTEE

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES

YEAR ENDED 31 MARCH 2023

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Councilʼs website at: [www.frc.org.uk/auditorsresponsibilities]. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Anthony Epton (Senior Statutory Auditor) for and on behalf of Goldwins Limited Statutory Auditor Chartered Accountants 75 Maygrove Road West Hampstead London NW6 2EG

Date: 19 December 2023

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Brent Community Transport Statement of financial activities

(incorporating an income and expenditure account)

For the year ended 31 March 2023

Note
Income from:
Donations
3
Charitable activities:
4
GH, D-2-D ComRide Community Bus & Membership
Community Car Scheme (CCS)/Social Services PB
Contract Transport Services
School Transport Services
Other Transport Services
Investment income
5
Total income
Expenditure on:
Charitable activities:
6
GH, D-2-D ComRide & Membership
Community Car Scheme (CCS)/Social Services PB
Contract Transport Services
School Transport Services
Total expenditure
7
Transfers between funds
Gains / (losses) on revaluation of fixed assets
Net movement in funds
Reconciliation of funds:
17
Total funds brought forward
Total funds carried forward
Net (expenditure) for the year
Net expenditure before other recognised gains and
losses		 2023
Unrestricted
funds
£
3,043
68,454
55
547,755
105,316
-
15
724,638
118,244
-
646,472
25,378
790,094
(65,456)
-
(65,456)
-
(65,456)
472,570
407,114		 2023
Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
52,800
52,800		 2023
Total
funds
£
3,043
68,454
55
547,755
105,316
-
15
724,638
118,244
-
646,472
25,378
790,094
(65,456)
-
(65,456)
-
(65,456)
525,370
459,914		 2022
Total
funds
£
31,854
30,982
3,203
524,593
112,200
4,601
2
707,435
95,946
49,606
579,076
94,115
818,743
(111,308)
-
(111,308)
100,750
(10,558)
535,928
525,370

All of the above results are derived from continuing activities.

There were no other recognised gains or losses other than those stated above. The attached notes form part of these financial statements.

12

Brent Community Transport Balance sheet As at 31 March 2023

Note
Fixed assets:
10
11
Current assets:
12
Liabilities:
13
Liabilities:
14
17
Total unrestricted funds
Funds
General funds
Total funds
Unrestricted funds:
Revaluation
Restricted funds
Tangible assets
Investments
Cash at bank and in hand
Creditors: amounts falling due within one year
Net current assets
Total net assets
Debtors
Creditors: amounts falling due after more than one year		 2023
£
195,161
58,610		 2023
£
330,140
1		 2022
£
230,619
44,725		 2022
£
375,543
1
330,141
162,160		 375,544
191,920
253,771
(91,611)		 275,344
(83,424)
167,000
240,114		 169,000
303,570
(32,387) (42,094)
459,914 525,370
52,800
407,114		 52,800
472,570
459,914 525,370

The financial statements have been prepared in accordance with the special provisions for small companies under Part15 of the Companies Act 2006.

19 December 2023

Approved by the trustees on ………………………………

and signed on their behalf by:

MOSES (CHAIR)

Company registration no. 01509231

The attached notes form part of the financial statements.

13

Brent Community Transport Statement of cash flows For the year ended 31 March 2023

Note
2023
£
Cash flows from operating activities:
Net cash provided by / (used in) operating activities
18
Cash flows from investing activities:
Interest/ rent/ dividends from investments
15
Proceeds from the sale of property,plant and equipment
29,995
Purchase of property, plant and equipment
-
Cash provided by / (used in) investing activities
Cash flows from financing activities:
Repayments of borrowing
(9,707)
Net cash provided by (used in) financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
19		 Note
2023
£
Cash flows from operating activities:
Net cash provided by / (used in) operating activities
18
Cash flows from investing activities:
Interest/ rent/ dividends from investments
15
Proceeds from the sale of property,plant and equipment
29,995
Purchase of property, plant and equipment
-
Cash provided by / (used in) investing activities
Cash flows from financing activities:
Repayments of borrowing
(9,707)
Net cash provided by (used in) financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
19		 2023
£
(6,418)
30,010		 2022
£
2
50,082
(100,242)		 2022
£
(50,110)
(50,158)
(9,707) (7,906)
(9,707)
13,885
44,725		 (7,906)
(108,174)
152,899
58,610 44,725

14

Brent Community Transport Notes to the financial statements For the year ended 31 March 2023

1 Accounting policies

a) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: 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 - effective 1 January 2015) - (Charities SORP FRS 102) and the Companies Act 2006.

The charitable company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

c) Going concern

d) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Income received in advance for the provision of specified service is deferred until the criteria for income recognition are met.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.

e) Donations of gifts, services and facilities

On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

f) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

g) Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.

15

Brent Community Transport Notes to the financial statements For the year ended 31 March 2023

1 Accounting policies (continued)

h) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

i) Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity's activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 6.

j) Operating leases

Rental charges are charged on a straight line basis over the term of the lease.

k) Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £1,000. Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

˜

˜ Fixtures and fittings 25% SL Motor vehicles 20% SL

l) Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

m) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

n) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

o) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

p) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

q) Pensions

The charity contributes to a defined contribution pension scheme currently with Standard Life. The charity’s pension policy is to contribute to the pension scheme to match individual staff chosen contribution up to 5% which will cover pension legislation changes and the requirement. Also as per government introduced pension legislation, the charity’s staging date for pension was 1[st] October 2015. The assets of the scheme are held separately from those of the charity in an independently administered fund. The monthly pension cost charges to the financial statement of the charity represents contributions payable under the scheme by the charity to the fund. The charity has no liability under the scheme other than for the payment of those contributions.

16

Brent Community Transport Notes to the financial statements For the year ended 31 March 2023

2 Detailed comparatives for the statement of financial activities

Income from:
Donations
Charitable activities:
GH, D-2-D ComRide & Membership
Community Car Scheme (CCS), LB Brent
Contract Transport Services
School Transport Services
Other Transport Services
Investments
Total income
Expenditure on:
Charitable activities:
GH, D-2-D ComRide Community Bus & Membership
Community Car Scheme (CCS), LB Brent
Contract Transport Services
School Transport Services
Other Transport Services
Total expenditure
Net (expenditure) for the year
Transfers between funds
Net (expenditure) before other recognised gains and losses
Gains / (losses) on revaluation of fixed assets
Net movement in funds
Total funds brought forward
Total funds carried forward		 2022
2022
2022
Unrestricted Restricted
Total
Funds
Funds
Funds
£
£
£
29,854
2,000
31,854
-
30,982
-
30,982
3,203
-
3,203
524,593
-
524,593
112,200
-
112,200
4,601
-
4,601
2
-
2
705,435
2,000
707,435
78,538
-
78,538
40,605
-
40,605
474,010
-
474,010
77,039
-
77,039
146,551
2,000
148,551
816,743
2,000
818,743
(111,308)
-
(111,308)
-
-
-
(111,308)
-
(111,308)
100,750
-
100,750
(10,558)
-
(10,558)
483,128
52,800
535,928
472,570
52,800
525,370

3 Income from donations and legacies

Donations 2023
2022
Unrestricted Restricted
Total
Unrestricted
Restricted
Total
£
£
£
£
£
£
3,043
-
3,043
29,854
2,000
31,854
3,043
-
3,043
29,854
2,000
31,854

17

Brent Community Transport Notes to the financial statements For the year ended 31 March 2023

4
5		 Income from charitable activities 2023
2022
Unrestricted Restricted
Total
Unrestricted
Restricted
Total
£
£
£
£
£
£
470
-
470
358
-
358
67,984
-
67,984
30,624
-
30,624
GH, D-2-D ComRide Community Bus &
Membership
Membership
GH, D-2-D ComRide Community Bus
Total for Activity 1
68,454
-
68,454
30,982
-
30,982
-
-
-
2,524
-
2,524
-
-
-
463
-
463
55
-
55
216
-
216
Community Car Scheme (CCS)/Social
Services PB
Community Car Scheme (CCS), LB Brent
Community Bus & Members Services
Community Car Scheme
Total for Activity 2
55
-
55
3,203
-
3,203
116,950
-
116,950
109,311
-
109,311
430,805
-
430,805
415,282
-
415,282
Contract Transport Services
Contract Sales
Dial-a-Ride Transport Services
Total for Activity 3
547,755
-
547,755
524,593
-
524,593
15,559
-
15,559
29,407
-
29,407
89,757
-
89,757
82,793
-
82,793
School Transport Services
Bus Sales
School Runs
Total for Activity 4
105,316
-
105,316
112,200
-
112,200
-
-
-
4,601
-
4,601
Other Transport Services
Other income
Total for Activity 5
Total income from charitable activities
Income from investments
Bank interest
-
-
-
4,601
-
4,601
721,580
-
721,580
675,579
-
675,579
2023
2022
Unrestricted Restricted
Total
Unrestricted
Restricted
Total
£
£
£
£
£
£
15
-
15
2
-
2
15
-
15
2
-
2

18

Brent Community Transport Notes to the financial statements For the year ended 31 March 2023

6 Analysis of expenditure

Basis of
allocation
Staff costs
Direct
GH, D-2-D ComRide & Membership
Direct
Community Car Scheme (CCS)/LB Brent Social
Services PB
Direct
Contract Transport Services
Direct
School Transport Services
Direct
Support costs
Staff costs
Rent and Room hire
Depreciation
Other support costs
Audit fees
Supports costs
Support costs
Total expenditure 2023
Total expenditure 2022		 GH, D-2-D
ComRide
Community
Bus &
Membership
Community
Car Scheme
(CCS)/Social
Services PB
Contract
Transport
Services
School
Transport
Services
Supports
costs 2023 Total 2022 Total
£
£
£
£
£
£
£
11,229
-
203,470
-
-
214,699
247,479
22,249
-
-
-
-
22,249
21,819
-
-
-
-
-
-
2,248
-
-
152,356
-
-
152,356
174,293
-
-
-
2,205
-
2,205
13,138
34,433
-
77,379
-
18,242
130,054
155,038
-
-
-
-
71,999
71,999
69,037
11,096
-
4,393
15,106
372
30,967
48,668
1,650
-
3,377
-
116,530
121,557
78,674
-
-
-
-
4,500
4,500
5,000
-
-
-
-
39,508
39,508
3,349
Charitable activities
80,657
-
440,975
17,311
251,151
790,094
37,587
-
205,497
8,067
(251,151)
-
118,244
-
646,472
25,378
-
790,094
78,538
40,605
474,010
77,039
148,551
818,743

All the expenditure was unrestricted (2022: £816,743 was unrestricted and £2,000 was restricted).

19

Brent Community Transport Notes to the financial statements For the year ended 31 March 2023

6a Analysis of expenditure (prior year)

Basis of
allocation
Staff costs
Direct
GH, D-2-D ComRide & Membership
Direct
Community Car Scheme (CCS)/LB Brent Social
Services PB
Direct
Contract Transport Services
Direct
School Transport Services
Direct
Support costs
Staff costs
Rent and Room hire
Depreciation
Other support costs
Audit fees
Supports costs
Support costs
Total expenditure 2022		 GH, D-2-D
ComRide
Community
Bus &
Membership
Community
Car Scheme
(CCS)/Social
Services PB
Contract
Transport
Services
School
Transport
Services
Supports
costs 2022 Total
£
£
£
£
£
£
9,998
1,510
208,114
27,857
-
247,479
21,819
-
-
-
-
21,819
-
2,248
-
-
-
2,248
-
-
174,293
-
-
174,293
-
-
-
13,138
-
13,138
29,468
33,895
77,579
14,096
-
155,038
-
-
-
-
69,037
69,037
14,045
2,520
9,091
20,639
2,373
48,668
3,208
432
4,933
1,309
68,792
78,674
-
-
-
-
5,000
5,000
-
-
-
-
3,349
3,349
Charitable activities
78,538
40,605
474,010
77,039
148,551
818,743
17,408
9,001
105,066
17,076
(148,551)
-
95,946
49,606
579,076
94,115
-
818,743

20

Brent Community Transport Notes to the financial statements For the year ended 31 March 2023

7 Net income / (expenditure) for the year

This is stated after charging / (crediting): 2023 2022
£ £
Operating lease rentals:
Property 73,410 69,037
Depreciation 30,967 48,668
Loss / (profit) on disposal of fixed assets (15,559) (29,407)
Auditor's remuneration:
Audit fees 4,500 4,500

8 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel

Staff costs were as follows:
Salaries and wages
Social security costs
Employer’s contribution to defined contribution pension schemes		 2023
2022
£
£
330,014
412,142
26,798
32,065
15,933
18,940
372,745
463,147

The following number of employees received employee benefits (excluding employer pension) during the year between:

2023 2022
No. No.
£60,000 - £69,999 1 1

The total employee benefits including pension contributions of the key management personnel were £61,787 (2022: £63,936).

The charity trustees were not paid or received any other benefits from employment with the Charity or its subsidiary in the year (2022: Nil). Moses, the Chair, provides free of charge services to the charity for two days in a week. He has not been reimbursed travelling expenses in the year (2022: Nil) and training expenses in the year (2022: Nil) No charity trustee received payment for professional or other services supplied to the charity (2022: Nil).

Staff numbers

The average number of employees (head count based on number of staff employed) during the year was as follows:

Transport services 2023
2022
No.
No.
22
22
22
22

9 Taxation

The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

21

Brent Community Transport Notes to the financial statements For the year ended 31 March 2023

10
Tangible fixed assets
Fixtures and
fittings
Motor
vehicles
Refurbishment
costs
Total
£
£
£
£
Cost
At the start of the year
52,200
690,638
31,711
774,549
Additions in year
-
-
-
-
Disposals in year
-
(15,000)
-
(15,000)
Revaluation in the year
-
-
-
At the end of the year
52,200
675,638
31,711
759,549
Depreciation
At the start of the year
51,828
315,467
31,711
399,006
Charge for the year
372
30,595
-
30,967
Eliminated on disposal
-
(564)
-
(564)
At the end of the year
52,200
345,498
31,711
429,409
Net book value
At the end of the year
-
330,140
-
330,140
At the start of the year
372
375,171
-
375,543
All of the above assets are used for charitable purposes.
11
Investments
2023
2022
Investments at fair value:
£
£
Investment in subsidiary undertakings incorporated in the UK
1
1
1
1
Brent CT Engineering Limited
Aggregate capital and reserves
(5,893)
(8,028)
12
Debtors
2023
2022
£
£
Trade debtors
94,015
40,056
Other debtors
73,698
162,815
Prepayments
27,448
27,748
195,161
230,619
13
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
49,513
30,235
Taxation and social security
10,601
14,327
Other creditors
25,497
10,419
Accruals
6,000
28,443
91,611
83,424		 Fixtures and
fittings
Motor
vehicles
Refurbishment
costs
Total
£
£
£
£
52,200
690,638
31,711
774,549
-
-
-
-
-
(15,000)
-
(15,000)
-
-
-		 Fixtures and
fittings
Motor
vehicles
Refurbishment
costs
Total
£
£
£
£
52,200
690,638
31,711
774,549
-
-
-
-
-
(15,000)
-
(15,000)
-
-
-
52,200
675,638
31,711
759,549
51,828
315,467
31,711
399,006
372
30,595
-
30,967
-
(564)
-
(564)
52,200
345,498		 31,711
429,409
-
330,140		 -
330,140
372
375,171		 -
375,543
2023
2022
£
£
1
1
1
1
(5,893)
(8,028)
2023
2022
£
£
94,015
40,056
73,698
162,815
27,448
27,748
195,161
230,619
2023
2022
£
£
49,513
30,235
10,601
14,327
25,497
10,419
6,000
28,443
91,611
83,424

22

Brent Community Transport Notes to the financial statements For the year ended 31 March 2023

14 Creditors: amounts falling due after more than one year

Creditors: amounts falling due after more than one year
Bank loan 2023
2022
£
£
32,387
42,094
32,387
42,094

15 Pension scheme

The charity operates a defined contributions pension scheme.

16 Analysis of net assets between funds

Tangible fixed assets
Investments
Net current assets
Non current liabilities
Net assets at the end of the year
16a Analysis of net assets between funds (prior year).
Tangible fixed assets
Investments
Net current assets
Non current liabilities
Net assets at the end of the year		 General
unrestricted Revaluation
Restricted
Total funds
£
£
£
£
209,090
68,250
52,800
330,140
1
-
-
1
162,160
-
-
162,160
(42,094)
-
-
(42,094)
329,157
68,250
52,800
450,207
General
unrestricted Revaluation
Restricted
Total funds
£
£
£
£
153,743
169,000
52,800
375,543
1
-
-
1
191,920
-
-
191,920
(42,094)
-
-
(42,094)
303,570
169,000
52,800
525,370
17
Movements in funds
Restricted funds:
DFT Community Bus Fund
Total restricted funds
Unrestricted funds:
General funds
Revaluation
Total unrestricted funds
Total Funds		 At the start
of the year Income & gains
Expenditure
& losses
Transfers
At the end of the
year
£
£
£
£
£
52,800
-
-
-
52,800
52,800
-
-
-
52,800
303,570
724,638
(790,094)
2,000
240,114
169,000
-
-
(2,000)
167,000
472,570
724,638
(790,094)
-
407,114
525,370
724,638
(790,094)
-
459,914

23

Brent Community Transport Notes to the financial statements For the year ended 31 March 2023

17a Movements in funds (prior year)

Restricted funds:
DFT Community Bus Fund
Enterprise rent a car
The National Lottery Fund
The London Community Foundation
Total restricted funds
Unrestricted funds:
General funds
Revaluation
Total unrestricted funds
Total Funds		 At the start
of the year Income & gains
Expenditure
& losses
Transfers
At the end of the
year
£
£
£
£
£
52,800
-
-
-
52,800
-
2,000
(2,000)
-
-
-
-
-
-
-
-
-
-
-
-
52,800
2,000
(2,000)
-
52,800
409,378
705,435
(816,743)
5,500
303,570
73,750
100,750
-
(5,500)
169,000
483,128
806,185
(816,743)
-
472,570
535,928
808,185
(818,743)
-
525,370

Purposes of restricted funds

Restricted funds relate to two minibuses donated to the charity (DK66CHL £70k and DK66CHN £70k).

18 Reconciliation of net income / (expenditure) to net cash flow from operating activities

Net income / (expenditure) for the reporting period
(as per the statement of financial activities)
Depreciation
Interest, rent and dividends from investments
Loss/ (profit) on the sale of fixed assets
(Increase)/ decrease in debtors
Increase/ (decrease) in creditors
Net cash provided by / (used in) operating activities		 2023
2022
£
£
(65,456)
(111,308)
30,967
48,668
(15)
(2)
(15,559)
(29,407)
35,458
28,552
8,187
13,387
(6,418)
(50,110)

19 Analysis of cash and cash equivalents

Cash at bank and in hand
Total cash and cash equivalents		 Cash flows
£
£
£
£
44,725
13,885
-
58,610
At 1 April 2022
Other changes
At 31 March 2023
44,725
13,885
-
58,610

20 Operating lease commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

Less than 1 year
1 - 5 years		 Property
Property
2023
2022
£
£
85,668
85,668
35,695
121,363
121,363
207,031

21 Legal status of the charity

The charity is a company limited by guarantee and has no share capital. Each member is liable to contribute a sum not exceeding £1 in the event of the charity being wound up.

24

Brent Community Transport Notes to the financial statements For the year ended 31 March 2023

22 Related party transactions

As at the year-end, Brent CT Engineering Ltd, the wholly-owned subsidiary owed the charity £27,293 (2022: £123,175).

There are no other donations from related parties which are outside the normal course of business and no restricted donations from related parties.

25