Company regislratlon nurnber." 1903280 Charity registration number.. 292513 Hillingdon Community Transport Limited IA company limited by gyaranteel Annual Report and Financial Slalemenls for the Year Ended 31 March 2024 MG Audit servI￿s Limited Chartered Accountants and Registered Auditors 166 College Road Harrow Middlesex HA1 1BH Hillingdon Community Transport Limited Contents Reference and Administrative Detsils Trustees, Report 2to5 Statement of Trustees. Responsibilities Independent Examiner's Report Statement of Financial Activities Balance Sheet Statement of Cash Flows 10 Notes to the Financial Statements 11 to17 Hillingdon Community Transport Limited Reference and Administrative Details Chaiman William Brown Tru$tee$ Fidelma Brookfield lan Drummond John Arthur Webster Sarah Shearing George Johnson David Poxon Derek Pascoe Frederido George Hall Block B 128 Hadinglon Road Hillingdon UB8 3EU Prlnclpal Office The charity is incorporated in Eng￿nd & Wales. Company Registratlon Number 1903280 Charlty Registration Number 292513 Independont Examiner MG Audit Services Limited Chartered Accounlanls and Registered Auditors 166 College Road Harrow Mk1dlesex HA1 1BH Page 1 Hillingdon Community Transport Limited Trustees. Report The trustees, who are ￿1￿ClOT$ for the purposes of company law, present the annual report together with the financial statements of the charitsble company for the year ended 31 March 2024. Obl8¢tlv•s and a¢llvltlg$ ObJe¢ts and alms The main obje¢live and activity of the Charity is to provide an affordable and accessible transport service lo various social groups within the London Borough of Hillingdon - Group Transport. Publ1¢ beneflt Our main activities and whom we aim to help are described as below. All our charitable activities focus on delivering a safe transport resource for our member groups and quality standard driver awareness and related training. All activities are undertaken to lurther our charitable purpose lor awareness and related training. All activities are undertaken lo further our charitable purposes for the public benefit. Our objectives are providing services lo benefit ￿sIdentS of the London Borough of Hillingdon. The diverse make up of our membership includes people of all age groups from the many different social, financi81 and cultural backgrounds whieh make up our local community in the Borough. -Elderfy groups -Residenls and community groups 4ports groups of mixed ages and abilities -youth and children's groups -Failh organisalions -Homeless, drug and alcohol support groups -Advice and support groups -Local voluntary groups supporting B S. E M residents -Educalion support oiganisalions and environrnenlal group We operate 11 fully ac￿SSible minibuses,. which means we are able to offer fully accessible transport lo our disabled residents and 9 standard minibus, tsyo with a trailer option Equality of access lo transport services is important Its us and our service offers transport for all those who find accessing conventional transport provision difficult lo use or unsuitable. Our premises are fully accessible, Our main provision is transport but we also provide advice in minibus purchase and training in driving skills and licence requiremenls.we offer driver training with the Minibus Drivef s Awareness Scheme IMIDASI and Passenger Assistant Training, IPATS). All drivers of our vehicles musl achieve the MIDAS Certificate in minibus driving The trustees confim that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard lo the public benefit guidance published by the Charity Commission for England and Wales. Achievements and perfomiance The Charity continues to provide a valuable seNice lo the residents of the London Borough of Hillingdon. The Charity has a sufficient amount of reserves, which should ensure that the Charity will be able lo continue lo provide this service for the foreseeable futu￿. The Charity has ascertained and reviewed Level 1 of the Pqasso Quality Assurance System. Page 2 Hillingdon Community Transport Limited Trustees. Report Financial r9VieW The current year'5 surplus of £ 63,833, is after charging depreciation of £8,243. Policy on reserves li is the policy of the Charity that we have an unrestricted and undesignated reserve of £100,000,This is lo ensure that the Charity can.. -Mainlain sufficient cash flow to allow lime for amounts to be re¢eived for use of services by members organisations., -Atlow for unplanned repairs or maintenance problems with the fleet of vehicles", -Allow for late payment of grants andlor other extemal funding and possible debt problems,. -Provide for potential redLJndancy costs for ¢ore staff resulting from a loss of funding., -meet current liabilities in respect of rent, lease agreements and other creditors", -Provide for legal costs in the event of the Chaiity being subject lo legal action., and -Provide for eosls in the event of the closure of the project. Oue lo the outbreak of Covid 19 we have also put in place a Pandemic Policy. This reflects the risks and responsibilities we face as an organisation. The Trustees have tsken into account our former reserve and feel we needed to increase it to £100,000 to include our Pandemic policy. This will be lo consider the possibility ol further outbreaks or any other unexpected loss of income. We are confident that the measLJres we have put in place, will Continue lo see us be able lo trade as we move forward and lake into account any further drops in Income. The reserve fund will be reassessed annually lo insure that our financial commitments are mel. The Trustees consider that reserves should be maintained al this level lo ensure that, in the event of a significant drop in funding they will be able lo continue the Charity's current activities while consideration is given lo way5 in which additional funds may be raised. Plans for future pgriods Aims and key obJe¢tlvgs for future perlods We have set out below the future plans for the Charity To continuously review and update the business plan Review and update Level lof Pqasso when required Continue lo seek capital fund raising for new replacement buses Initiate new projects as the needs arise Continue lo implement our bus replacement Schen Monitor our finan¢es in relation lo Covid 19 Page 3 Hillingdon Community Transport Limited Trustees, Report structure. governance and m*nagement Recruitment and appointment of trustee$ The Trustees, who a￿ also directors for the purpose of company law, who served during the year, were". F.Brookfield F Hall l. Drummond S.Shearing J A Webster G Johnson D.Poxon D.Pascoe W Brown (Chairl RF SagelResignedl L.HanlonlResignedl None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee lo contribute £1 in the event of a winding up. The Articles of Association provide for up to 10 Trustees on the Management Committee and the membership are invited lo nominate petsons for election as Trustees al every Annual Gen Meeting. Persons co-opted to the Management Committee normally serve a probationary period before being appointed a Trustee, Arrangements for setting key managemgnt personnel remuneration The Trustees of the Charity a￿ considered related parties of the Charity. None of the Trustees received remuneration or reimbursement of expenses. Page 4 Hillingdon Community Transport Limited Trustees, Report Mqlor rlsks and management of those rlsks Legal claim The Trustees have idenllfied the foll￿ng rlsks a8 the maln rlskg that face the ChaTIty. The Charty could not continue to mèet Ils oblecllves ￿thout the SUPPDrt of the London Borough of Hlllingdon. Thg Charily could be faced with a claim agalnst it if a person, or per$on$, suffe￿￿ any peisonal Injury or accldent whlle belng transported In tho Charlty's vehlclos. Tho Charity has oblalned publlc118blllty and fully eomprehenslve fleet insurance lo ensure that the rlsk of a claim Impacting on the atsll￿ of the Charlty to conunue its operation 1$ mlllgated. The Trustees have s01 aslde an unrestrl¢tsd rwrve of £100,000 to provld8 for unforeseen circumstances as described above and as sel out in the reseryes pollcy. The Trustees ara also in the process of securin9 grants for the foreseeable future. As many our fleet are not ULEZ compliant, we have implemented a Bus replacement policy in line wth our trading.Currenlly ? new Bus Is in the region of £65,000, with 8 9ood second-hand bus about £30,000. With Ihis in mind, we have Set aside £65,000 towards replacemenl wlhin our flget for 2024-25. The annual report was approved by the trustees of the charty on l ?:11-202£nd signed on its behalf by.. Brown Chalrman Pag& S Hillingdon Community Transport Limited Statsment of Trustees, Responslbilities The trustees {who are also the directors of Hlllingdon Community Transport Limlted for the pvrp05es of company lawl afe responslble for preparing the trustees, report and the financi816t8lement$ in accordance with the United lfjngdom Accounllng Standards (United langdom Generally Accepted Accounting Practice) and applicable law antj regulations. Company law requires the trustees lo prepare financial slalemenls for eath financial year. Under cornpany law the trustees must not approve the financial slalemenls unless Ihey are satisfied that Ihey give a true and fair view of the stale of affairs of the chaTilable company and of its incoming resouices and application of resources. induding ts income and expenditure. for Ihal period. In preparing these financial statements, the trustees ara r•qulpd to.. select suitable accounting policies and apply them consislanlly., observè the methods and principles In the Charilles SORP., make judgements and estimates that are reasonable and pNdent', stale whether appIl￿ble UK Ac¢ounling Standards have been followed, subject lo any malertal departures d15dosed and explained in the fin8ncial statements.. and prepare the financial stslemenls on the going ¢onc8rn basls unless It Is Inapproprlal8 to presumg that Ihe charltable company will cottlinue In buslness. The trustees are responsible for keeping adequate accounting records that are sufficlent to show and explain the charitable company's Iransacllons and disclose with reasonable accuracy al any time the financial position ol the charitable company and enable them lo ensufe that the financial stslements ¢omply with tre Companie5 Act 2006. They are also responsible for safeguarding the assets of the ¢harilabla company and hence fof t8￿ng ieasonable steps for the provftntion and delectton of Iraud nd other Irregularllies. Approved by the trustees of the charlty on .!2-.1.!-".o&nd slgned on Its behalf by.. William Brown Chairman Page 8 Hillingdon Community Transport Limited Independent Exarninerfs Report to the trustees of Hillingdon Community Transport Limited I report on the accounts of the charty for the year ended 31 March 2024 which are set out on pages 8 to17 Respectlve responslbllltles of trustees and examlner The Irustees (who are also the directors of the company for the purposes of company lawl are responsible for the preparalion of the accoLJnls. The trustees consider that an audit is not required for this year under section 144121 of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The charity's gross income exceeded £250,000 and l am qualified to undertake the examination by being a qualifièd member of. Having $81isfied myself that the charity is not subject to audit under company law and is eligible for independent examination, il is my responsibility to.. examine the a¢¢ounls under section 145 of ihe 2011 Act., to follow the procedures laid down in the general Directions given by the Charity Commission under section 14515llbl of the 2011 Act," and lo stste whether particular matters have come lo my attention. Basis of independent examiner's report My examination was carned out in accordance with the general Directions given by the Charity CommissiL)n. An examination includes a review of the aceounling records kept by the charity and a cornparison of the accounts presented with those records. 11 also includes consideration of any unusual Items or disclosures in the accounts, and seeking explanations from you as liuslges concerning any such matters. The piocedures undertaken do not provide all the evidence that woukl be required in an audit and consequenuy no opinion is given as to whether the accounts present a 'Irue and fair view, and the report is limited lo those matters sel out in the siatement below. Independent examIne￿$ statement In connection with my examination, no matter has come to my attention.. 11) which gives me reasonable cause lo believe that in any material respect the requirements". lo keep accounting records in accordance with section 386 of the Companies Act 2006., and lo prepare accounts which accord with the accounting records, comply with the a¢¢ounling requirements of section 396 of the Companies Act 2006 and with the methods and piinciples of the Slalement of Recommended Prath'ce.. Accounting and R8POrting by Charities have not been mel, or 121 lo which, in my opinion, attention should be drawn in order lo enable a proper understanLling of the accounts lo be reached. Gavin Fernandes FCA, CTA Chartered Accountsnts and Registered Audito 166 College R¢)ad Harrow Middlesex HA1 IBH Dale.. Page 7 Hillingdon Community Transport Limited Statement of Financial Activities for the Year Ended 31 March 2024 Ilncluding Income and Expenditure Account and Statement of Total Recognised Gains and Lossesl Unrestricted funds Total 2024 Note Incom8 and Endowmènts from: Donations and legacies Charitable activities Investment income 3.155 520.564 2,273 3.155 520.564 2,273 Total income 525,992 525.992 Expenditure on: Charitable activities 462.159 462,159 Total expÈndf(ure 462,159 462,159 Nel income 63.833 63.833 Nel movement in funds 63,833 63,833 Reconciliation of funds Total funds brought forward Total funds carried forwaid 248,607 246,607 12 310,440 Unrestricted funds 310,440 Totsl 2023 Note Income and Endowment8 from: Charitable activities Investment income 430,784 640 430,784 640 Total income 431,424 431.424 Expendlture on- Charitable activities 418,868 418.868 Total expenditure 418,868 418.868 Net income 12,556 12,556 Net movement in funds 12,556 12,556 Re¢on¢lliatlon of funds Total funds brought forward Total funds carried forward 234.051 234,051 12 246.607 246,607 All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 12. Page 8 Hillingdon Community Transport Limited (Registratlon number: 19032801 Balance Sheet as at 31 MarGh 2024 2024 2023 Note Fixed assets Tanglblg assets 5,010 8,754 Current assets Debtors Cash at bank and In hand 10 89,295 239,560 328,855 23,425 83.897 170,893 254,590 CredltOTS: Amounts falllng due ￿thIn one year 11 16.737 Net current assets 305.430 237 8S3 Net assets 310,440 246.607 Funds of the charlty: Unrestricted Income funds" Unreslrieled funds 310,440 310,440 246,607 246.607 Total fvnds 12 For the financl81 year endlng 31 March 2024 the Gharity was entiued to exemp￿0￿ from audlt under section 477 of the Compgnies Act 2006 relating to small ¢ompani0S. Directors, respon81bllllles' The members have not required the Charity to obtsin an audit of its accouniy for the year in question in accordance with sethn 476: and The dlreGlors acknowledge their responsibllile8 for Gomplylng with the rt4ulioments of the Act wrth respeot lo accounllng records and the preparation of aocounts. These accounlÈ hava been prepared In aceord8nce with the prtsvlslons appllcable to rnmpanles sublecl to the small companles reglme. The financlal statements on pages 8 10 17 were approved by the trustees, and authorlsed for15sué on ,,A.IIA/.2+, and signed on Ihelr behalf by.. William Brown Chairman P￿e9 Hillingdon Community Transport Limlted Statement of Cash Flows for the Year Ended 31 March 2024 2024 2023 Note Cash flows from operating aetivities Net cash ineome 63.833 12.556 Adlustments to cash flows from non4ash Items Depreciation Investrllent income 8,244 2.273 10,589 640 69.804 22.505 Working capltal adjustments Increase in debtors Increaselldeereasel in creditors 10 15,5981 139,9191 4,506 Nel cash flows from operating activities Cash flows from Investing activitie$ Interest receivable and similar income Purchase of tangible fixed assets 7Q.894 121.920 2,273 4,500 640 Nel cash flows from inv&sling activit￿S Nel increaselldecreasel in cash and cash equivalents Cash and cash equivalents al 1 April 2.227 640 68,667 121,2801 192,173 170,893 Cash and Cash equivalents at 31 Maich 239,560 170,893 All of the cash flows are derived from ¢onlinuing operations during the above periods. Page 10 Hillingdon Community Transport Limited Notes to the Financial Statements for the Year Ended 31 March 2024 1 Charlty status The charity is limited by guarantee, incorporated in England & Wales, and consequentty do¢s not have Share capital. Each of the Iruslees is liable lo contribute an amount not exceeding £Nil towards the assets of the charity in the event of liquidation. The address of ils registèred office is.. Block B 128 Harlington Road Hillingdon UB8 3EU 2 Accounting policies Summary of significant accounting policies and key a¢¢ounting estimates The principal a¢¢ounling policies applied in the preparation of these financial slalemenls are sel out below. These policies have been consi5tenlly applied lo all the years presented, unless olheNise staled. Statement of compliance The financial slalemenls have been p￿pared in accordance with Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1[)21 leffeclive 1 January 20151 (Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. They also comply with the Companies Act 2006 and Charitie5 Act 2011. Basis of preparation Hillingdon Community Transport Limited meets the definition ol a public benefit entity under FRS 102. Assets and Iiabililies are Initially recognised at historical Cost or transaction value unless otherwise stated in the relevanl accounting policy notes. Golng concern The Iruslees consider that Iheie are no material uncertainties abciul the ¢hafity's ability lo continue as a going Concern nor any significant areas of uncertainty Ihal affe¢l the carrying value of as5els held by the charity. Income and endowments Income is included in th¢ Slalemenl of Financial Actsvib'es I'SOFA I f or the period when the charity is legally enlilled to the income and the amount can be quantified with reasonable accuracy. 11 includes grants. membership subscriptions aud other similar items. Such income is only not in¢ludeil, I,e. deferred. when -the donor specifics that the grant or donation must only be used in future accounting periods, or -the donor has imposed conditions which musl be mel befo￿ the charity has uncondits.onal enlillement,Incoming resources from charitable activities ¢onsisls of charitable trading income and represents amounts receivable for goods and services nel of VAT Page 11 Hillingdon Community Transport Limited Notes to the Financial Statements for the Year Ended 31 March 2024 Donations and legacies Donation5 are recognised when the charity has been notified in writing of both the amount and settlement dale. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is enlilled lo the funds, the income is deferred and not recognised until either those conditions are fully mel. OT the fulfilmenl of those conditions is wholly within the wnlrol of the charity and il is probable that these conditions will be fulfilled in the reporting period. Investment income Dividends are recognised once the dividend has been dedared and nolificalion has been received of the dividend due. Expgnditure All expenditure is recognised once there is a legal or conslru¢tive obligation lo that expend1ture, il is probable settlement Is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs lo that category. Where costs cannot be directly attributed lo particular headings they have been allocated on a basis Consistent with the use of resources. with central staff costs allocated on the basis of lime spent, and depreciation charges allocated on the portion of the asset's use. Other support costs ale allocated based on the spread of staff costs. Charhable activltles Charitable expenditure comprises those costs incurred by the charity in the delivery of ils activitses and services for ils beneficiaries. 11 includes both ¢osls that can be allocated dI￿¢11Y lo such activitses and those costs of an indirect nature necessary lo support them. Governance costs These include the costs attributable lo the Charity's eompli8nce with conslilulional and statutory requirements. including audit. siralegic management and truslees's meeb'ngs and reimbursed expenses. Taxation The Charity is ¢onsidered lo pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore il meets the definition of a charitable company for UK corporation tsx purposes. Accordingly, the charity is potentially exempl from taxation in respect of in¢ome or capital gains received within categories Covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that sueh income or gains are applied exclusivety lo charitsble purposes. Depreciation and amortisation The charity has Ihe use ol four minibuses that are owned by other organisalions. The charity is responsible for the runnin9 costs and insurance bul it is not able lo dispose of the vehicles without the consent of the legal owners. The vehides a￿ not included In tangible fixed assets. Purchases of equipment with an individual cost of less than £750 are not capilalised. Asset class Plant and machinery Office Furnilure Depreclation method and rate 250h straight line 25Qh stiaighl line Page 12 Hillingdon Community Transport Limited Notes to the Financial Statements for the Year Ended 31 March 2024 Motor Vehicles 25Qh slraighl line Trade debtors Tfade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction pri￿. They are subsequently measured at amortised cost using the effective Interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject lo an insignificant risk of chan9e in value. Trade creditors Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as Current liabilitr'es il the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for al least ￿e1ve months after the reporting dale. 11 there is an unctsndithonal nghl lo defer settlement for al least N¥elve months after the reporting dale, they are presented as non