Charity number 2908e6 THE EASTERN TRANSPORT COLLECTION SOCIETY UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR YEAR ENDED 30 APRIL 2021
Tha Ea8twn Transport Collectlon Soclety Contènts Legal and admlntstratlvo inftsrniatlo TNstees' roport Indepondènt report statgment olllnanclal actlvllles Balanc• sh•gt Notes to th• Ilnoncial 8tatem8nts
The Eastern Transport Coll8Ctlon Soclety Lryal and admlnlstrative Intomiatlon Trustees MSchael Flynn Sydney Eade Daniel Peart David Jordan Colln White Richard Alger John Stewart Michael Betterton Chairman Secretary Vice Chalrman Prlnclpal Offlce 14 The Pines Cringleford Norwlch NR47LT Independent Examjner P Dixon FCCA Norwich AccoLtntancy Servlees Ltd loa Castle Meadow Norwlch NRI 3DE Page I
The Easterft Transport Collèction Soclety Report of the Trustees for the year ended 30 Aprfl 2021 The Trustees present their report and financlal statements for Ihtr y8ar ended 30 April 2021. ststus The organisation was graed charllable slafvs on 4th Docember 1984. As of that date th& organisatton was entered in the Central Register of Chartties, by the Charities Commission, and has a registered number of 290666. Principal actfvity The oblect of the charty is lo advance public education by acquiring and rfjstortng a mobile collection of hlsloric publtc transport vehicles (buses) and to establish faGilities for Iheif publlc exhlbllloA. Publlc Beneflt Statement The Trustees have regard to ts Charfly Gommis$kll's public ben8frt guKlan¢e. Revlew of Actlvluos The Statement of Flnanclal Acttviti88 far the year is set cArt on page 7 of the financial statements. A summary of Ihe flnancial results and the WOTk of Ihe charity is set (Art below. The surt4us lor the year is £3819, gNing total funds carrted forward of £26,453. Achlevemonts The Socievs vehFcles continue to be slored at se¢ure undercover storage in Altleborough. Work has now begun to tocate premises to whh the vehicles can be moved when the existtng premise8 gre redeveloped. The continues to benefit from the subletting of space al the exisllng premises thtch reduces substantially the cost of a(mmodation for Its own ffeet The Society eontinuo8 to publigh tho bi-month m8gazlne Temiinu8 for members. A stgnlftcant number now recewe the magazine eleclronulty, which engures that they receive their copy quicker and al a reduced ¢ost. The So¢iety benefits by the reduCtn in cost of d18tributron, enhan¢ing the portion of subscriplions which can be used to fund vehicle resloralK>n and maintenance. During the course ofthe year, we Faunthed the SoGieV8 new wthlte which 18 a great improvement over the old. For the first time, Ihose interesled can joln the Soclety online from the webslle. 16 have done so so lar. Swelling the membership numb$ to the highest levet for several yeats. rt is gratifying that only two Membe chose not to renew 8t the year end. In 2020, we concluded our 50th Annlversary Appeal with a viow to taising £20.000 to enabte the Society to continue with the restoratlon of fleel of six vehiclès. Well over that sum was raised, to which Gift Aid h35 been added. Thls has given us a sound base from which to ¢onllnue our restoration efftirts. The Trustees are also very pleased that approximately £500 per month L ral$ed from members, regular monthly donations. Our use of third paty fundraislng websttes has cc14nUed to benef5t finances with well over £500 now raisgj by easyfundraising. glveasyoulive and Page 2
The Ea$tem Transport Collectlon Soclety Report of the Trustees for the year ènded 30 Aprll 2021 Amazon Smile. Our anonymous donor has conttnued to make substantial donations to benefit th8 restoration of LL718, with its fvnd n(M holdlng over£6000. We have continued to bonefil from donaltons from the estate of late members. Syd Eade very successfulty raised over £1500 from the sales of bus memorabi148 owned by our former treasurer Bernard Watkin, gen8iou8ty donated by hi9 widow Penny. Taken togetheT, all these Initiatives have resulted In Ihe SIety erbdlng the y6ar the surplus noled above. The global CovKI-19 pandemic has impacted s[gnifandY on resloratlon Progress with three lockdowns preventing work pro¢eoding. Even when lockdowns were lifted, several working paty members had to wait for full va¢cinaion before il was safe lo $tsrt. Nethes, gootl progr has conllnued to be made wllh the retum of LKH 341.$ fulty refvrbished engine from Roger Burdett and hi8 team in Wa8h1re. Slgnificant furthèr progress has been made 81 the front erKI of the vehicle with much rotten wood Trplaced and new panelling fitted. Work on the upper d8ck nllnues as well as replacement of rotten sections in the staircase. We are hopeful Ihal the vehlde wll drivable agaln in 2022 amhough full ostoralfon Is unlikety to complete before 2023. The platfomi area of LKD 229 has been fully refurbl8hed, It is to be hoped that. with Ihe pandemio more under control. a full&r programm8 of w)rk can be completed in 2022. Roseryes Pollcy 11 FS the aim of the charity to rnaintain unrestrkted funds which ar8 free reserves of the Charity at a level which equates to approximalety elghteen months, unTestrted expendffture {excluding resloralion costs}. This provides 8ufficienl funds to cover administrallon and maintenance of the Society's vehlcles. The trustees estimale the CulnI mark81 value ofthe fwed assets £34,CW. Rlsk Management The trustees ¢onlinue to examlne the major strategic bu$inoss and operatlonal rkks within the charity and confimi that the systems e$tsblK8hed and regulaT reports help lo redu and eliminats thèse risks. Thts report and the financial statements were approved ty the Trustses on and were 6vaned on thelw tshalf by Mike FFynn, tha Chaimian. Decemlx8r 2021 Page 3
Eastorn Transport Colleetton Soclety Independ•ftt Examlnei's Report Forthe y•arendod 30 Aprll 2021 INDEPENDENT EXAMIt4ER% REPORT TO THE TRUSTEES gfTHE EASTERN TRANSPORY COLLECTION SOCIETY I rewrt on th& fnancAal statements of thg charity for the yw ended 30 Aprtj 2021 vthlch are set OLrt on pages 7 10 9. This report 18 made solty to the d)aritys Truste88, as a bw, in acco1ylee with se¢tron 145 of the Chame8 Act 2011 and regulallons mad8 under sectSon 154 of thatA¢t My work has been undertaken so that I mlght state lo th8 charity's Trustèès Iho$g matters l am required 10 State lo them In an Ind8p6ndent 8xaminer's report and for no other purpos&. To the fullest extent permitted by law, I do not a¢cept or assume respon$ibilily to anyone other than dKqrtty and tha charttys Trustso8 a8 a bcty. for my or for Ihls rewrt. The flnan¢l¥l stalemenls have b88n prepared In aco)rdanc6 vAth Acrounting and ReFortkng by Ch8dles preparing Ir accounts in accordance with the Financial RwrtiNJ Standards appllcable in Ihg UK and Rwbllc of Ireland IFRS1021 In preférence to the Accounting and Reporting by chariti.. Statem8pII of Recomm8fKled Practice issued on 1 April 2005 which Is referTJ lo In the extènt regulaions bul hss Ixen wrthdr8wn. This has d$ In order for the acc3 to provida a true and f8fir 0W in o¢ctydance wlth the Ggnwal Accgpted Accounting Pradce effec l(Y reportlng peri¢xls b89inning on or 8ftèr 1 January2015. RESPECTIVE RESPONSIBIUTIES OF TRUSTEES AND EXAMINER The charfty'8 Trust are responstAe for the preparthon of the financlal statemrt qnd they conslder that ¥n audit is requir8¢Y for Ihis year under sadjn 144(21 ol the Charthes Act 2011 {the Act) and th81 an Indopondent examination is ngeded. 11 Is my responsibility to.. examine the statements undor sedion 145 oftht Act.. fc4low the prc¢edures lald down in the general Directions gwen by the CharttyComml8gkn undersadcn 145151{bl of the Act.. and
tale wheY*r particubr rnatters havo come to my gttontion.
BASIS OF INDEPENDENT EXAMINEifs REPORT My examination was out in eccordance the gerwal DIr110nS given by tfri8 Charity Commission. An examinallon Ind18 a review of the ae£ounJng records kept by the chadty and a mnparlson ofthe finandal statement3 presented those records. It al80 indud89 eonshJeralk>n of any unusual items or di8dosur•$ In the financial statsments. and Seeknng exFlan3tls from you as Trusleè8 concemlng any such matters. The procedures undertaken do not provid& oll the evidetxe thatwould required In an audit. and consawently no nltsn 18 glven to vknthrthe finandal statements pre8enl a and fak vl* and Ihe the report E8 limrted to Iho8e mattèrs Set ¢)ut In the statemert ljelw. Pago 4
The Eastgm Tran8POrt coltIon So¢l•ty Independent Examlnerfs Report For the year endod 30 Aprll 2021 INDEPENDE EXAMINER'S STATEMEKr In ¢CneCts0n rny wmination. no mattèr has come to my ail¢ntion.' (f) Which gNes me re•sonable cause to bellve that in any malorial resKCt th• requirements". - to keep accounting record$ in accordance th section 130 of the Act.. 8nd fo prepare financial statements which accord wllh th• accounting rn¢ords. Accounllng and R8Wt(rYJ by ChaTiti¢$ preparing their accounts in accordance with the Financial Reporting Standard in th& UK and Repybknc of Ireland IFRS1021 and In othw respgcts compFy th& accounting r•quirements of the Act. have not been met.. or 121 to vthi¢h. in my nIon, attention should b8 drawn in order to an80 a PTop8r undwarKtlng of the financial statements lo bo reached. 8igned'. Date(1". 25th October 2021. Paul Dixon FCCA Norwlch Ac¢ountrn¢y S&Nlco8 Ltd 10a C8sYa Meadow NO¢ NR1 3DE
The Eastsm Transport Collectlon Soclety ststemement of Flnanclal ActlvSt8S For the yearended 30 Aprll 2021 unrestrt811 fund• 2021 R•#trf¢tsd fufid# 2021 Totsl fund$ 2021 Tol•l 2020 INCOAIE FROAI: Sub8vlptlons Oonations Gtft aid clalm Rent rece Fund t8ts1ng Bank Inter88t 3.502 11,339 3.154 6,000 1,821 3.602 11,339 3,154 6,000 1,821 2,978 12.LK12 4,148 4,9SO 226 TOTAL INCOME 21817 EXPENDITURE OPI: Fund r8idrw R8nts pakj Lght& at Insurance V•hide maintsnanc 178 I,3 11,868 178 1.063 11.88 158 585 18,4 Indeparthnt examw9 f888 Admin18tFathJn Repairs of pr8mF R8paiKs lo equynant 330 1.054 330 I,QJ4 t,61S 1A07 228 TOTAL EXPENDJTURE 21.998 22.881 NET INCOME IIEXPENfMTUREI 8EFORE OTHER RECOGNISED GAINS AND LOSSES 3.819 3fv19 1,443 NET MOVEMENTIN FUND8 1,819 3,819 RECONCIUATK)N OF FUNDS: Tolal fu¥ btwght fomBrd 22,634 21.191 TOTAL FUND8 CARRIED FORWARD 24463 26183 22,834 notss on pago 8 fomi p8rt0lts* fina1 ¥tgtsMts. P<e6
The Eastern Transport Collectlon So¢lety ilan¢e Sheet AS at 30 Aprll 2021 2020 2019 FIXED ASSETS Motor v8hides Mu8eurn dIng ancl exhlxti 3,500 1,800 3.500 1,500 s,000 CURRENT ASSETS Dèbtors and prepasrynents LKH 341 bank account 718 bank a¢¢ount Cash at ba 6.731 16.688 2q.9S3 2.501 10,927 18,134 CREDITORS: amounts falllng du8 WrtNn one year Creditors and acuua (5rK) NEf CURRENT A85ETS 21A53 17.834 NET ASSET3 26A53 22.634 CHARITY FUNDS RBStrfdgd luThJs TOTAL FUIIDS 21,191 Thg flt)anclaF statements were approve£l by the Trustees on311i& /.a and 8lgned on Ih•tr bthdf, ty. M Flyn Chalrn)8n The not•s on page 9 form part of Ihaso financial **¢ments Pagglw
Tho Eastern Tran$port Collectlon 8ocl&ty Notes to Ihts Flnanclal Ststement For th• year •nd•d 30 AwS12021 ACCOUNTING POLICIES 1.1 Bask of Pmparntlon olflmtscial ststsmgnt8 The chBrrty conslllutes a public beneffl enllty as d8fined by FRS 102. The fsnancial st8tements have been wepared in accordance wilh Accounllng and Reports'ng by charItS.. St8lern8nl of Recommended Practice applicable to Ghariles preparlng their accoLFnts in accordance wlth th& Fir7anaal Repcating Standard appllcable in the UK and Republlc of Irgland IFRS 1021 i$8ued on 16 July 2014, Ihb Financial Reporting Standar(S applicable in the Unitad Kingdorn and Republlc of Irèlend (FRS 102), the Ch8rftie8 Act 2011, and UK GenerlY Acceptsd Practice 8$ It applles from 1 January2015. 1.2 Fund accotIng Geral funds are unreslrfcted funds which 8re available for use at tha discrètion of thg Trustee8 in furtherance ol the gen8fal obi8Ctives of Iha orwtsat'on and whlch havè not boèn d&slgnatwJ P8rJcu18f PLKPWS. Dg8lgnated funds ¢cmprise unreslrided funds that have been set asidè by th8 Trustees for particular purpos68. Restrlcted funds are lund8 whlol are to b& usod In accordance th specifi¢ r08trfctions imposed by donars or which been w8ed bythe org8nisation fof particular purp)8es. Thè cost of raising and adminlslerrng such fund$ are charyed against the speclfic fLmd. 1.3 In¢omlng resour¢ Incoming rosou¢ces ars recognl8ed In thè Statemènt ol Financial Actlwties ISOFAI when thg organlsallon h8$ entltt8m8nl to incorne, there 1$ 8uffici8nt e8rtainty of re¢glpt 80 tF7at 1118 probable the Income wll be r8ceW, and ¢he amount can be m@aswtd r8lia14y. No amourts afe Included in the fingncéal statements for seThiceg donated by ¥duntetrs as thts Value cannot be quantlfle(I 1.4 Roslr¢eS peThdad All eXpen(JIre is ac¢ounte<l for on 8 recelpts and payments basis and h88 bè8n ¢lasslfied UTKIW headings that aggregate all costs Telaled to th& category. Whore costs cannot be dIrY altributed to particUr headings Ih6y have been olktat8d to activities on a ba818 consisttt Mlh s8 of the resources. TRUSTEES. REAqUNERATION AND EXPENSE8 Tl)& Tiustées wther received w wavl8d any emoluments or eyn86s dur6ng the year. P#ge 8