Company Registration Number: 01509231 Charity Number 280698 ## **BRENT COMMUNITY TRANSPORT** **COMPANY LIMITED BY GUARANTEE** ## **FINANCIAL STATEMENTS** ## **31 MARCH 2024** ## **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 2024** 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 2024. ## **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 Trustees The trustees who served the charity during the period were as follows: Moses (Chair) H J Sheppard Nola Slater Samantha Michele Banton Elmay Donald Auditor Goldwins Limited 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 **- 1 -** **BRENT COMMUNITY TRANSPORT COMPANY LIMITED BY GUARANTEE** ## **TRUSTEES ANNUAL REPORT** ## **YEAR ENDED 31 MARCH 2024** ## **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. ## **Organisation** The charity is organised so that the directors meet regularly to manage its affairs. The day to day management of the organisation is overseen by the Chief Executive Officer (in the process of recruiting) and supported by a group of committed staff. ## **The Management Committee are responsible for:** - Ensuring good governance of the charity - Overall management of the charity - Oversee the budget for the year - Approving signatories to the bank accounts ## **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 disabilities of persons resident or working in the London Borough of Brent and its surrounding districts: 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; 3. Distributing to needy persons furniture which has been donated to Community Transport for that - purpose. Since the formation of the charity much has changed such as the lack of social housing since many social house holders exercised their right to buy their dwelling, under the Right to Buy scheme, the demographic change has had an impact on the community's resources, infrastructure, and overall development. The make up of the populated is clear to see as one group move out and a new group move in. We are no longer (unless things change in the future) providing a removal service for chattels and storage of furniture, and therefore we don’t distribute furniture anymore. Notwithstanding our transport ( minibus) services is still robust as ever. ## **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. **- 2 -** **BRENT COMMUNITY TRANSPORT COMPANY LIMITED BY GUARANTEE** ## **TRUSTEES ANNUAL REPORT** ## **YEAR ENDED 31 MARCH 2024** ## **Risk management** We continue to review our risk management strategy: - a) An annual review of the risks the charity may face; - b) The establishment of systems and procedures to mitigate those risks identified in the plan; - c) The implementation of procedures designed to minimise any potential impact on the charity should those risks materialise. - d) All Trustees and decision-making managers should declare & sign conflict of interest. The Trustees have analysed the risk of charity operations to identify possible risks and accordingly take required actions or have plans in place to tackle the risks. The table below identifies possible risks and actions taken for minimizing loss by the charity. |Charity premises
(rental from
private Landlord)|Premises remain a major risk as competition and demand for
land in the borough become more acute with developers competing with
business units and housing stocks. The severe shortage of choice in this area
means we are at the mercy of the landlords as the rent is ever increasing,
due to the overall economic challenges and the ever diminishing land
available to park our vehicles.| |---|---| |Shortage of
Drivers & Staff|Driver shortages are still a concern for the organisation, and
across the transport sector generally. The shortage of
drivers has without doubt driven salary costs up and it’s in
this area that may prove challenging.
During the year we have had to utilize an agency to cover some
contracts which of course are at a higher cost.| ## **Credit Risk Management** The charity does not have any material doubtful debtors at the balance sheet date and all trade debtors are recoverable ## **Accessible vehicles & Operations** Our fleet of vehicles is of the highest specification, and all are within the five- year replacement programme. All the 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. ## **Group Transport** Group transport remains the only service we currently provide. The demise of the ComRide service, and the Community Care Scheme where we provide door to door (individual) accessible transport for people who cannot use public transport due to the lack of funding. Based on the number of phone calls we still receive, the demand for this type of services is very much need but due to constraint on the public (local authority) purse their prioritising of funds, we not at this stage in a position to refloat the service presently. **- 3 -** **BRENT COMMUNITY TRANSPORT COMPANY LIMITED BY GUARANTEE** ## **TRUSTEES ANNUAL REPORT** ## **YEAR ENDED 31 MARCH 2024** ## **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. ## **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. ## **Local Authority – Brent Council** BCT work closely with the local authority to provide specialized accessible transport to day centres and special needs school. ## **Training** BCT prides itself on ensuring that the workforce is fully trained up as possible. A skilled staff group (office and drivers) minimise the risks when providing services; and as a consequent reduce any potential legal issues. We regularly review and update drivers 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 ## **FINANCIAL REVIEW** Greater scrutiny over our finances is always at the forefront of our minds, especially in the ever tightening (national and global) economic constraints. The number of runs we previously covered has fallen therefore a decrease in income will be felt. Naturally, the desire and aim are to source additional contracts and services whereby we can rebuild our reserves and to continue to meet our obligations to paying competitive salaries and improve the fabric of our organisation; replacement of vehicles. The full financial state of the organisation can be obtained from our audited accounts. ## **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: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP FRS102; - make judgements and accounting estimates that are reasonable and prudent; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. **- 4 -** **BRENT COMMUNITY TRANSPORT COMPANY LIMITED BY GUARANTEE** ## **TRUSTEES ANNUAL REPORT** ## **YEAR ENDED 31 MARCH 2024** 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. ## **AUDITOR** Each of the persons who is a trustee at the date of approval of this report confirms that: - so far as each trustee is aware, there is no relevant audit information of which the charity's auditor is unaware; and each trustee has taken all steps that they ought to have taken as a trustee to make them self aware of any relevant audit information and to establish that the charity's auditor is aware of that information. Registered office: Signed on behalf of the trustees Office 301, 10 Courtenay Road East Lane Business Park Wembley HA9 7ND MOSES Chair 22 January 2025 **- 5 -** **INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF BRENT COMMUNITY TRANSPORT** ## **Opinion** We have audited the financial statements of Brent Community Transport for the year ended 31 March 2024 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: • give a true and fair view of the state of the charitable company’s affairs as at 31 March 2024 and of its income and expenditure for the year then ended: - have been properly prepared in accordance with United Kingdom Generally Accepted - Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006. ## **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 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. **- 6 -** ## **INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF BRENT COMMUNITY TRANSPORT** ## **Opinion on other matter prescribed by the Companies Act 2006** In our opinion, based on the work undertaken in the course of the audit: - the information given in the trustees’ report (incorporating the directors’ report) for the financial - year for which the financial statements are prepared is consistent with the financial statements; and - the trustees’ report (incorporating the directors’ report) have been prepared in accordance with - applicable legal requirements. ## **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: - adequate accounting records have not been kept or returns adequate for our audit have not - been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of trustees’ remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit. ## **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. 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: • We enquired of management, which included obtaining and reviewing supporting documentation, concerning the charity's policies and procedures relating to: • Detecting, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance; - Detecting of the risks of fraud and responding whether they have knowledge of any actual or - suspected fraud; **- 7 -** ## **INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF BRENT COMMUNITY TRANSPORT** • We obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on those laws and regulations that had a material effect on the financial statements or that had a fundamental effect on the operations of the charity from our professional and sector experience. • We performed analytical procedures to detect any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud. 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: 30 January 2025** **- 8 -** ## **Brent Community Transport Statement of financial activities** ## (incorporating an income and expenditure account) ## **For the year ended 31 March 2024** |**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
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**
**Net movement in funds**
**7**
**Reconciliation of funds:**
**17**
Total funds brought forward
**Total funds carried forward**|**2024**
**Unrestricted**
**funds**
**£**
-
176,030
-
595,679
250,301
48
**1,022,058**
180,189
-
607,114
223,650
**1,010,953**
**11,105**
407,114
**418,219**|**2024**
**Restricted**
**funds**
**£**
-
-
-
-
-
-
**-**
-
-
-
-
**-**
**-**
52,800
**52,800**|**2024**
**Total**
**funds**
**£**
**-**
**176,030**
**-**
**595,679**
**250,301**
**48**
**1,022,058**
**180,189**
**-**
**607,114**
**223,650**
**1,010,953**
**11,105**
**459,914**
**471,019**|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)
525,370| |||||**459,914**| 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. -9 - ## **Brent Community Transport Balance sheet As at 31 March 2024** |**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|**2024**
**£**
**227,692**
**84,919**|**2024**
**£**
**289,676**
**1**|**2023**
£
195,161
58,610|**2023**
£
330,140
1| |---|---|---|---|---| |||**289,677**
**203,711**||**330,141**
**162,160**| ||**312,611**
**(108,900)**||253,771
(91,611)|| ||167,000
251,219||167,000
240,114|| |||**(22,369)**||(32,387)| |||**471,019**||**459,914**| |||**52,800**
**418,219**||**52,800**
**407,114**| |||||| |||**471,019**||**459,914**| The financial statements have been prepared in accordance with the special provisions for small companies under Part15 of the Companies Act 2006. ## **22 January 2025** 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. -10 - ## **Brent Community Transport** ## **Statement of cash flows** **For the year ended 31 March 2024** ||**Note**|**2024**|**2024**|2023|2023| |---|---|---|---|---|---| |||**£**|**£**|£|£| |**Cash flows from operating activities:**|||||| |Net cash provided by / (used in) operating activities|**18**||21,279||(6,418)| |**Cash flows from investing activities:**|||||| |Interest/ rent/ dividends from investments||48||15|| |Proceeds from the sale of property,plant and equipment||15,000||29,995|| |**Cash provided by / (used in) investing activities**|||15,048||30,010| |**Cash flows from financing activities:**|||||| |Repayments of borrowing||(10,018)||(9,707)|| |Net cash provided by (used in) financing activities|||(10,018)||(9,707)| |**Change in cash and cash equivalents in the year**|||**26,309**||13,885| |Cash and cash equivalents at the beginning of the year|||58,610||44,725| |**Cash and cash equivalents at the end of the year**|**19**||**84,919**||58,610| -11 - ## **Brent Community Transport Notes to the financial statements For the year ended 31 March 2024** ## **1 Accounting policies 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. ## **Going concern** The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern.The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period. ## **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. ## **Donations of gifts, services and facilities** Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution. 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. -12 - **Brent Community Transport Notes to the financial statements** ## **For the year ended 31 March 2024** ## **1 Accounting policies (continued)** ## **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. ## **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. ## **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: - Costs of raising funds comprise of trading costs and the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose. - Expenditure on charitable activities includes the costs of delivering activities undertaken to further the purposes of the charity and their associated support costs. - Other expenditure represents those items not falling into any other heading. - Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. ## **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. ## **Operating leases** Rental charges are charged on a straight line basis over the term of the lease. ## **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 ## **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. ## **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. -13 - **Brent Community Transport Notes to the financial statements** **For the year ended 31 March 2024** ## **1 Accounting policies (continued)** ## **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. ## **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. ## **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. ## **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. -14 - ## **Brent Community Transport Notes to the financial statements For the year ended 31 March 2024** ## **2 Detailed comparatives for the statement of financial activities** ||||||**2023**|**2023**|**2023**| |---|---|---|---|---|---|---|---| ||||||**Unrestricted **|**Restricted**|**Total**| ||||||**Funds**|**Funds**|**Funds**| ||||||**£**|**£**|**£**| ||**Income from:**||||||| ||Donations||||3,043|-|**3,043**| ||Charitable activities:||||||| ||GH, D-2-D ComRide &||||||| ||Membership||||68,454|-|**68,454**| ||Community Car Scheme (CCS), LB Brent Social Services PB||||55|-|**55**| ||Contract Transport Services||||547,755|-|**547,755**| ||School Transport Services||||105,316|-|**105,316**| ||Investments||||15|-|**15**| ||**Total income**||||**724,638**|**-**|**724,638**| ||**Expenditure on:**||||||| ||Charitable activities:||||||| ||GH, D-2-D ComRide Community Bus & Membership||||118,244|-|**118,244**| ||Contract Transport Services||||646,472|-|**646,472**| ||School Transport Services||||25,378|-|**25,378**| ||**Total expenditure**||||**790,094**|**-**|**790,094**| ||||||||| ||**Net movement in funds**||||**(65,456)**|**-**|**(65,456)**| ||Total funds brought forward||||472,570|52,800|525,370| ||**Total funds carried forward**||||**407,114**|**52,800**|**459,914**| |**3**|**Income from donations**||||||| |||||**2024**|||2023| |||Unrestricted Restricted||**Total**|Unrestricted|Restricted|Total| |||£|£|**£**|£|£|£| ||Donations|-|-|**-**|3,043|-|3,043| |||-|-|**-**|3,043|-|3,043| -15 - ## **Brent Community Transport Notes to the financial statements For the year ended 31 March 2024** |**4**
**5**|**Income from charitable**|**2024**
2023
Unrestricted Restricted
**Total**
Unrestricted
Restricted
Total
£
£
**£**
£
£
£
1,300
-
**1,300**
470
-
470

174,730
-
**174,730**
67,984
-
67,984| |---|---|---| ||**GH, D-2-D ComRide**
**Community Bus &**
**Membership**|| ||Membership
GH, D-2-D ComRide Community
Bus
**Total for Activity 1**|| |||176,030
-
**176,030**
68,454
-
68,454
-
-
**-**
55
-
55| ||**Community Car Scheme**
**(CCS)/Social Services PB**|| ||Community Car Scheme
**Total for Activity 2**|| |||-
-
**-**
55
-
55
172,082
-
**172,082**
116,950
-
116,950
423,597
-
**423,597**
430,805
-
430,805| ||**Contract Transport Services**|| ||Contract Sales
Dial-a-Ride Transport Services
**Total for Activity 3**|| |||595,679
-
**595,679**
547,755
-
547,755
-
-
**-**
15,559
-
15,559
250,301
-
**250,301**
89,757
-
89,757| ||**School Transport Services**|| ||Bus Sales
School Runs
**Total for Activity 4**
**Total income from charitable**
**activities**
**Income from investments**
Bank interest|| |||250,301
-
**250,301**
105,316
-
105,316| |||1,022,010
-
**1,022,010**
721,580
-
721,580| |||**2024**
2023
Unrestricted Restricted
**Total**
Unrestricted
Restricted
Total
£
£
**£**
£
£
£
48
-
**48**
15
-
15| |||48
-
**48**
15
-
15| -16 - **Brent Community Transport Notes to the financial statements For the year ended 31 March 2024** ## **6 Analysis of expenditure** |Basis of
allocation
Staff costs
Direct
GH, D-2-D ComRide & Membership
Direct
Contract Transport Services
Direct
School Transport Services
Direct
Support costs
Staff costs
Rent and Room hire
Depreciation
Other support costs
Audit fees
Audit fees prior years adjustment
Supports costs
Support costs
**Total expenditure 2024**
Total expenditure 2023|GH, D-2-D
ComRide
Community
Bus &
Membership
Community
Car Scheme
(CCS)/Social
Services PB
Contract
Transport
Services
School
Transport
Services
Supports
costs **2024 Total 2023 Total**
£
£
£
£
£
**£**
£
36,482
-
200,384
34,071
-
**270,937**
214,699
57,848
-
-
-
-
**57,848**
22,249
-
-
207,201
-
-
**207,201**
152,356
-
-
-
104,085
-
**104,085**
2,205
31,621
-
63,242
31,621
30,928
**157,412**
130,054
-
-
-
-
84,648
**84,648**
71,999
13,639
-
1,586
3,839
-
**19,064**
30,967
1,537
-
3,088
1,550
91,613
**97,788**
121,557
-
-
-
-
5,200
**5,200**
4,500
-
-
-
-
(100)
**(100)**
-
-
-
-
-
6,870
**6,870**
39,508
Charitable activities| |---|---| ||**141,127**
**-**
**475,501**
**175,166**
**219,159**
**1,010,953**
790,094
39,062
-
131,613
48,484
(219,159)
**-**
**180,189**
**-**
**607,114**
**223,650**
**-**
**1,010,953**
**118,244**
**-**
**646,472**
**25,378**
**-**
**790,094**| All the expenditure was unrestricted (2023: all unrestricted). -17 - **Brent Community Transport Notes to the financial statements For the year ended 31 March 2024** ## **6a Analysis of expenditure (prior year)** |Basis of
allocation
Staff costs
Direct
GH, D-2-D ComRide & Membership
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**|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**
£
£
£
£
£
**£**
11,229
-
203,470
-
-
**214,699**
22,249
-
-
-
-
**22,249**
-
-
152,356
-
-
**152,356**
-
-
-
2,205
-
**2,205**
34,433
-
77,379
-
18,242
**130,054**
-
-
-
-
71,999
**71,999**
11,096
-
4,393
15,106
372
**30,967**
1,650
-
3,377
-
116,530
**121,557**
-
-
-
-
4,500
**4,500**
-
-
-
-
39,508
**39,508**
**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**
Charitable activities| |---|---| -18 - **Brent Community Transport Notes to the financial statements For the year ended 31 March 2024** ## **7 Net income / (expenditure) for the year** |This is stated after charging / (crediting):|**2024**|2023| |---|---|---| ||**£**|£| |Operating lease rentals:||| |Property|**84,648**|73,410| |Depreciation|**19,064**|30,967| |Loss / (profit) on disposal of fixed assets|**6,400**|(15,559)| |Auditor's remuneration:||| |Audit fees|**5,200**|4,900| ## **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|**2024**
2023
**£**
£
**382,172**
330,014
**30,259**
26,798
**15,918**
15,933| |---|---| ||**428,349**
372,745| The following number of employees received employee benefits (excluding employer pension) during the year between: |£60,000 - £69,999|**2024**
2023
**No.**
No.
**-**
1| |---|---| The total employee benefits including pension contributions of the key management personnel were nil (2023: £61,787). The charity trustees were not paid or received any other benefits from employment with the Charity or its subsidiary in the year (2023: Nil). Moses, the Chair, provides free of charge services to the charity for two days a week. He has not been reimbursed any travelling expenses (2023: Nil) or training expenses during the year (2023: Nil) No charity trustee received payment for professional or other services supplied to the charity (2023: Nil). ## **Staff numbers** The average number of employees (head count based on number of staff employed) during the year was as follows: |Transport services|**2024**
2023
**No.**
No.
**24**
22| |---|---| ||**24**
22| ## **9 Taxation** The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. -19 - **Brent Community Transport Notes to the financial statements For the year ended 31 March 2024** |**10**
**Tangible fixed assets**
Fixtures and
fittings
Motor
vehicles
Refurbishment
costs
**Total**
£
£
£
**£**
**Cost**
At the start of the year
52,200
675,638
31,711
**759,549**
Disposals in year
-
(107,000)
-
**(107,000)**
**At the end of the year**
**52,200**
**568,638**
**31,711**
**652,549**
**Depreciation**
At the start of the year
52,200
345,498
31,711
**429,409**
Charge for the year
-
19,064
-
**19,064**
Eliminated on disposal
-
(85,600)
-
**(85,600)**
**At the end of the year**
**52,200**
**278,962**
**31,711**
**362,873**
**Net book value**
**At the end of the year**
**-**
**289,676**
**-**
**289,676**
At the start of the year
-
330,140
-
330,140
All of the above assets are used for charitable purposes.
**11**
**Investments**
**2024**
2023
**Investments at fair value:**
**£**
£
Investment in subsidiary undertakings incorporated in the UK
**1**
1
**1**
1
**Brent CT Engineering Limited**
Aggregate capital and reserves
(7,918)
(5,893)
**12**
**Debtors**
**2024**
2023
**£**
£
Trade debtors
109,436
94,015
Other debtors
81,326
73,698
Prepayments
36,930
27,448
**227,692**
195,161
**13**
**Creditors: amounts falling due within one year**
**2024**
2023
**£**
£
Trade creditors
59,013
49,513
Taxation and social security
13,341
10,601
Other creditors
31,346
25,497
Accruals
5,200
6,000
**108,900**
91,611
**14**
**Creditors: amounts falling due after more than one year**
**2024**
2023
**£**
£
Bank loan
**22,369**
32,387
**22,369**
32,387
**15**
**Pension scheme**|Fixtures and
fittings
Motor
vehicles
Refurbishment
costs
**Total**
£
£
£
**£**
52,200
675,638
31,711
**759,549**
-
(107,000)
-
**(107,000)**|Fixtures and
fittings
Motor
vehicles
Refurbishment
costs
**Total**
£
£
£
**£**
52,200
675,638
31,711
**759,549**
-
(107,000)
-
**(107,000)**| |---|---|---| ||**52,200**
**568,638**
**31,711**
**652,549**|| ||52,200
345,498
31,711
**429,409**
-
19,064
-
**19,064**
-
(85,600)
-
**(85,600)**|| ||**52,200**
**278,962**|**31,711**
**362,873**| ||**-**
**289,676**|**-**
**289,676**| ||-
330,140|-
330,140| |||**2024**
2023
**£**
£
**1**
1| |||**1**
1| |||(7,918)
(5,893)| |||**2024**
2023
**£**
£
109,436
94,015
81,326
73,698
36,930
27,448| |||**227,692**
195,161| |||**2024**
2023
**£**
£
59,013
49,513
13,341
10,601
31,346
25,497
5,200
6,000| |||**108,900**
91,611| |||**2024**
2023
**£**
£
**22,369**
32,387| |||**22,369**
32,387| |||| The charity operates a defined contributions pension scheme. -20 - ## **Brent Community Transport Notes to the financial statements For the year ended 31 March 2024** |**16**|**Analysis of net assets between funds**|||||| |---|---|---|---|---|---|---| ||||General|||| ||||unrestricted|Revaluation|Restricted|**Total funds**| ||||£|£|£|**£**| ||Tangible fixed assets||69,876|167,000|52,800|**289,676**| ||Investments||1|-|-|**1**| ||Net current assets||203,711|-|-|**203,711**| ||Non current liabilities||(22,369)|-|-|**(22,369)**| ||**Net assets at the end of the year**||**251,219**|**167,000**|**52,800**|**471,019**| ||||General|||| |**16a **|**Analysis of net assets between funds**|**(prior year).**|unrestricted|Revaluation|Restricted|**Total funds**| ||||£|£|£|**£**| ||Tangible fixed assets||110,340|167,000|52,800|**330,140**| ||Investments||1|-|-|**1**| ||Net current assets||162,160|-|-|**162,160**| ||Non current liabilities||(32,387)|-|**-**|**(32,387)**| ||Net assets at the end of the year||**240,114**|**167,000**|**52,800**|**459,914**| |**17**|**Movements in funds**|||||| |||At the start||Expenditure||**At the end of the**| |||of the year|Income & gains|& losses|Transfers|**year**| |||£|£|£|£|**£**| ||**Restricted funds:**|||||| ||DFT Community Bus Fund|52,800|-|-|-|52,800| ||**Total restricted funds**|**52,800**|**-**|**-**|**-**|**52,800**| ||**Unrestricted funds:**|||||| ||General funds|240,114|1,022,058|(1,010,953)|-|251,219| ||Revaluation|167,000|-|-|-|167,000| ||**Total unrestricted funds**|**407,114**|**1,022,058**|**(1,010,953)**|**-**|**418,219**| |||||||| ||**Total Funds**|**459,914**|**1,022,058**|**(1,010,953)**|**-**|**471,019**| |**17a **|**Movements in funds (prior year)**|||||| |||At the start||Expenditure||**At the end of the**| |||of the year|Income & gains|& losses|Transfers|**year**| |||£|£|£|£|**£**| ||**Restricted funds:**|||||| ||DFT Community Bus Fund|52,800|-|-|-|52,800| ||**Total restricted funds**|**52,800**|**-**|**-**|**-**|**52,800**| ||**Unrestricted funds:**|||||| ||General funds|303,570|724,638|(790,094)|2,000|240,114| ||Revaluation|169,000|-|-|(2,000)|167,000| ||**Total unrestricted funds**|**472,570**|**724,638**|**(790,094)**|**-**|**407,114**| |||||||| ||**Total Funds**|**525,370**|**724,638**|**(790,094)**|**-**|**459,914**| ## **Purposes of restricted funds** Restricted funds relate to two minibuses donated to the charity (DK66CHL £70k and DK66CHN £70k). -21 - **Brent Community Transport Notes to the financial statements For the year ended 31 March 2024** ## **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**|**2024**
2023
**£**
£
**11,105**
(65,456)
**19,064**
30,967
**(48)**
(15)
**6,400**
(15,559)
**(32,531)**
35,458
**17,289**
8,187| |---|---| ||**21,279**
(6,418)| ## **19 Analysis of cash and cash equivalents** |Cash at bank and in hand
**Total cash and cash equivalents**|Cash flows
£
£
£
**£**
58,610
26,309
-
84,919
At 1 April 2023
Other changes
**At 31 March 2024**| |---|---| ||**58,610**
**26,309**
**-**
**84,919**| ## **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
**2024**
2023
**£**
£
93,186
85,668
238,177
35,695| |---|---| ||**331,363**
**121,363**| ## **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. ## **22 Related party transactions** As at the year-end, Brent CT Engineering Ltd, the wholly-owned subsidiary owed the charity £43,193 (2023: £27,293). There are no other donations from related parties which are outside the normal course of business and no restricted donations from related parties. -22 -