C(wnparryr89istration nurnbor.. 01903280 Charity registrdtion number.. 292513 Hillingdon Community Transport Limited {A comp8ny lInlad by guarantee) Annual R8pJt8nd Flnandal Statem8nis for the Yoar Ertd 31 Klarc* 202S MG Group {Professl SeThlces) Lknited Chartered Accountants 166 Colleg8 Road Hatrow Middlesex HA1 18H
Hillingdon Communlty Transport Llmlted Contents R8f8rence and AdmlnL8tratwe Detals Tnjslees, R6k%t 2to5 Statemantoifru8t8es' R•sponsibilrtK8s in R&spèd of Iha Finanaa Ststgwnts IndepeniJ8nt Exarninerfs R8F#Yt Statement olFln8ncial ActNatès Balance Sheet Stalernent ofcash Fhy 10 Noles to the Flnand81 Slo¢ernents t11018 Delalled Stalem•nt of Fillancl fvdfvltlss 191021
Hillingdon Community Transport Limited Reference and Admlnlstratlve Detslls Chalrman Illam lan BrrNm Trustees and Dlrectorn Fldelma 8rLK)kfiekl lan Dmrnmond Sarah ShearlThJ Davbd Poxon Dsrek Pas FeriCk George H911 D$nnis Br(y*n Bbck B Hadlngton Road DepKJl 128 Harllngbn RoHd HIUln9d Middlesex U88 3EU Prlnclpal Offlc• The tharlty 1$ In¢orporatad In En9bTrJ &W81&8. Company R•gl$tratlon Numbfrr 019)3280 Charlty Reglstratlon Nurnr 292513 Indèpendént EXamIr Gavln Fèmandas FCA, CTA MG Group (Professional Servlcesl Llmiled Chartered Accountant8 166 Collega Road Harrow dle58X HAI 18H Pag8 1
HlS1ingdon Cornmunlty Transport Llmlted Trustees, Report The tnjstees. who are direclcms for th8 piJfFthèS ol rThY kqw, present thè annual rewt together vAth th8 financial siatarnents of th• charitab rnpanY for Ihe year ènded 31 March 2025. The accounts have beèn prepared in acCrnCe lh& accounting polic$ sat out in Note 1 to the a¢u1$ 8rKI rmplY th thg Charity's IAenw)randum and of Assoclatk)n, appllcable law and the requlrements ol the Ststernenl ol RKxwnmendtJ PwtKe,"AcownUng and ReporttrMJ by ChadtK8s' wued in 2015. Obl•etlvés and actlvhl•s oaJeet5 and alms Our aim 5s lo provid¢ a fulty accesslble transwl seNk¢ at affordatla cost to disaed hdivlduals and bon8 flda volunlery groups and organi8atbns Ihat proylde 8aNlees. benafit and help to Irnwovo the qualty of life for Hilllngdon's resSdents. Structurej governanco and management Recrultment and appolntment ofiruslees The Charlly Is a company Ilmiled byguaranteo and does not ha A ¥hare ca$al. The ftJnd8 reeknd trom grants and ¢radlng acllvlues are moslty unreslrlcted and rnay be used In the lurtharanco of the Charfty's objectives in accordance wlih the Memorandum and ol A6"ation. (he Charlty's 9overnlng do¢xrnent. rhe charftable seNkÈ$ provlded by the Charlty ar8 mosity restrlcl8d to th8 beneflt of thg re8ldents of tha Lorklon Borough ol Hilllngdon. A Trustèt mu81 not recefv• any payment of moneyorolhèr maleThal benefit Iwhelher dSr8cI or Indirectl fr(xn the Charlty6xc•pI 83 provlded le In Ihe Memorandum olAssocL2tlon. The Charlty ha3 the pr lo make any Investment, vthlch the Trustees see fit bui only after obtainlng adce from a finandal •xpert end havlro regard to th¢ suitatlllty OfInSonI8 and the n• for dhrs5ficatbn. The Company LI ¢ontrolled by 8 Marwm8nt Ctynrnlttee. 8clad from the Charfty8 membershb that currenlty nsL$tS of 8 Trustees. Thelr Tole Is to ovérsee the m8n8gèrnent and day to day runnlng of thé cornpany Bnd to ensure th81 th8 Charity ¢ornplies with 811 of Ihe necessary k9al and eh8ritable requireménts. wilh careful rnonitorfng of fina81 pdia8s and proc•Juros. Inducllon and lralnlng of trustees The Trustees. who are akn dlrectcrt for the purpose of panY Lqw. served durfng the year, were.. J A W8bsler, F Brc4)kfialY. S ShearfThJ. l Br(AffilChakn)anl G Jtshnsc , D P8soM. F G Hall. l Drumond and D. Poxon Page 2
Hllllngdon Communlty Transport Limlted Trustees, Report None of Ihe Truslee5 ha5 any bentr int8r8sI in the company. 1 of thè Trustees are m8rntrrs of thè company and guarantee to c(tribJte £1 h) the event ol a winding up. The ArtS of Asswiation proMde up lo 10 Trustees Managèmant Committee and the membgrshlp are irvited to nominat& pèrsons lor dedon as Twstees at every Annual General MÈelng. Persons co-opted to the Management Commlite8 Tnaty Serye a probationary parlod b8fcx8 bèlng apptsinled a Trvstee. Arrangements forsotllng k•y m•nagementpersonnelrnmun¢rollon Th• Trustees ol the Charity are (onsidered relaled parties of the Charlty. Ncth ol thè Trustses rece6d remunerallon or reirnbursemenl tsf ¢xpÈns•s. Major rlsks and management ol those Thè Trustets have Idenlffi rtsks that Charfty lace. The ch8rfty has publlc118bllity and fulty eornprehansfva flael Insurance to Insur8 Ihat the tsks irnpacting on the a'lIty of tho Charity to continuè Is rnlllgated. Flnanclal revlew Indep0nd¢nl ¢x8mlnèrs MG Group IProfe8th1 Servthl Lknlied have prepared our finawal stalements lor the year, for the Trustees lo reeW and approve. wilh an abbrwa18d slatèmènt of 8Ctlvlty lor tho 2024125 year al the end of this annual rèport. A full set ol accounts Is availaNe on iequesl from our offke. Th8 Trustees have 8 re8pon$it4ity to oversee the finan of lh• Charlty. Thls L8 don• on a raguiar bas18 at the Management meetings when Ihe G•neral Manager syesents upda(ed and reeWed Income and expenditure budgets Icw consklera¢k)n. Thèy alsa havè 8 r8sp)nslbllily to ansure that Teasonable $18P5 ar8 taken ¢0 protècl 8g8lnst nplann0d rin8ncrdl situalk)ns. To Ihls end the o)rnmi¢lee decKled that we needed to have 8 level ol unrestrkted serveS 8el askje 88 a conOn9ency fund by s•thng up a r8s8rv•s kKsIIcy. Pollcy on r8s•rv•s Reserve IUnreslrf¢tedl Our reserve kvel Is set 8t £1,(1x). This figure include3 a suddèn loss of Income suc as another pandemic. This a130 Includes the rAs$1s assockqted W Ihe projecl had to dose down Pagg 3
Hllllngdon Communlty Transport Llmlted Bus Rèplacement Fund We are always th.ng al ways to nKtyJemirye our aNI with th15 in rnthd we h8v• set up a bus raplacernenl fund. It Insures we are Sn a F4)sNkn lo upgrnde cw fkel ¥th8n our lyjses gel older or new leglslalion comes in. We were In 8 posith)n to replace 3 of rojer tyjses wlth k)w ml 2nd hatvj rwbus88 In 2024-2S. Trustees, Report Tradlng Wlth a Iratjing organlsatfon such as J1$. ctose finandal InttOn9 Is vital to avold thè sudden d8fials Ihat Can occursuch as bad weather 8t¢. th8 Charity needs a sltstanlal cash fknrf lo coversuch Iradlng activltle8 and allow tlm6 for p8yments to dear Ihe system. Thank you lof paying your InvorAs so prompity We saw an Inue838 In Iradlng In 2024-25 and 11 cnnllnuw monlior our prfdng 31wCtu to Insur& we can offer th• b•st V8kw ft)r ow rJJslcm•rs. As ah¥ayB, 8ped81 Ihanks lo.. London Borough of Hllllngdon for thalr tsjnonued 8UPPOrt. Trust•os and offlc¢r• Thé Iruslees and offkers durfng Ihe y8ar slnc8 the year ond warn 8$ folk)w8.' Trusla¥8'. Fhjelma Brookfio lan Dwmmond n Arthurwtbster {fesl3ned 19 March 20251 Sarah Shearfng GeoryJe Johnson Iraslgned 16 October 2024) Oavkl Poxon Fiederkk George Hall Déftnl8 lapOnt•d 2 Juty 20251 Chalrman.. Imlllam 18n Brown Small companles provlslon statement Thls pOrt has been prepared In aCcOrdar Ihe small (x¥npani85 regime under the CompanBs Acl 20(M. Page 4
Hilllngdon Communlty Transport Llmlted Trustees. Report jg-11-l> aThJ signed on its bebaw ty. The annual report was approved by Ihts InJste8s of th8 tharity c... ... William18n Brown Chalmian
Hilllngdon Communlty Transport Umlted Independent Examiner's Report to the trustees of Hllllngdon Communlty Transport Llmited I report to the charily trustees on my examlnatk) olthe ntS ofthe drIty forthe year ended 31 March 2025 which are set out on pag8s 8 to 21. Respettlve responsibllltles of trustees and examlnqr As the Charity's trustees ol Hillingdon Community Transwl Limlted land aL80 its directors lor the purpose ol company Law) you are reswjnsible for thè preparation ol the a¢¢ounts In accordance with the requlrements ofth8 Cornpanth Act 20( I'the 20( Ad'l. Having 8OtSsfièd mysellthal the accounts ol Hillthw¢Jon Ccrfnmunty franswrt Limited are not requlred to ba audlted under Part 16 of the 2()6 Acl and are el1b1? lor Indèpendent examlnafjon, I rèwrt In respect ol my examlnalion ol your chariws accounts as carried tsjt U18r secbon 145 01 th& charies Act 20111'the 2011 Act'l. In carrying oul my exarninatlon I have folbwed the Olrthns gfv8n by the Charily Comrnlsslon urtdtrr sèctlon 145lSllbl of thè 2011 Act. Ind¢pondant•xamln•rfs ststernent Sln¢e Hillingdon Communliy TransFX)rt Llmited's oross Income exceeded £250.OCX) ytyjr axamln8r must bè a member of 8 body listed in sectvJn 145 01 the 2011 ACL I conllrm that l am qUalid to undertake the 8xamlnallon because l arn o membef ol. whlch Is onè ol the Ilsled t>Jies. I h8v¢ comp(6d my examin•lth. I conlkn that no mattets havè come io my attenlbn In eMnectlon wlth the exarnlnallon 9[nO m8 causa to bele. 8ccountlng records were nol kept In Te8PeCt ol Hlllngdon Comn¥JnityTr8nsport LImd 88 requlred by ¥ectkffl 386 of the 20(6 Act., or 2. the 8cc#)unl8 do nol ac wth lts)se reci.. 3. thè accounts do not comply with the accounllno requir8mnts of seclk)n 396 01 tha 2(M)6 Act other than any iequlremenl that the accounts gfve a'tsue and lairvlevl whlch Is not a mattar CA)nsldered as part ol an Independent examination: 4. the accounts have not bèen prepared Sn a¢xordance wth Ihe rne¢hods and pdnaplas ol the Statement ol Racommended Practlce for Ac£oun(Ing and r8pNting by dwriues laWl¢abl8 to charities pparfng their 8ccounts in accorda llh th¢ Fin8noal Repjrllng Standard 8ppllcab In the UK and Rapublic ol Ireland IFRS 102)1. I have no conceTn$ and have come across no other malIS in connection wth the examinalk)Th to whkh attenllon Should bo drawn In this rew)rt In order to en8Ne a roper underslandlng of th8 aeeounts to be roach8d. Gavln Femand8s FCA. CTA MG Group IProles5ional Serykes) Lirnit8d Charter8d Accountants 166 College Road Harrow Middlesthx HA11BH 20/11/2025 Dale.. P7
Hllllngdon Communlty Transport Llmlted Statement of Financial Activities for the Year Ended 31 March 2025 (Including Income and Expenditure Account and Statement of Total Recognlsed Galns and Losses) Unr•5trlcted Unrestrfcled lunds funds 2025 2024 Income and EndowTnent8 from: Donallons and legaues ch8r5t8b activEtie$ Inveslment Income 10.fAJO 3.155 520,564 Total Income Expendlturè on.. R8lslng funds ChAr518bb aclvSlle8 1411 462 159 Tolal expend8 Net 462 159 Nel rnovemenl In funds 73,452 63,833 R•con6lllatlon of funda Total funds brought forward 310440 246 607 Total funds carrf forward 13 All olthe chatlty's act1$ darlv8 from willnulng ¢Jper811)ns dwlng th8 atthl hvo perk)d8. Thg lund8 breakdown Ihe y88r ks shown In now 13. Page 8
Hilllngdon Community Transport Limited {Reglstratlon nurnber: 01903280) Balance Sheet as at 31 Mar¢h 2025 2025 2024 Flxed as8•ts Tangibl8 8SS8ts io 110.316 5,010 Current assèts Deb¢ors Cash at bank and In haThJ 11 110.558 89,295 239 560 288,016 328,855 Crèdltors: Amounts lalllng du• wlthln on• y•ar Not current asset5 Not &88Ots Funda of tho chadty.. Unre8trlctèd Incom¢ fund$ Unreslrfcted funds 13 383.892 310,440 Total funds For the financlal y88r ondlng 31 March 2025 the charity as an11td io exemplon from audlt under secllon 477 of the Ccnpanies Acl 201% r&L8bng io small CoMnIes. Dlr8Ctor5' respjnslbilitlas.. The members have not requlred the chartty lo obtaln an audlt oflts accounts for th? y¢8r In quest1 In accordarKe wSth 3ection 476.. and The dlreclors acknowledge Ihalr responsltMlille8 fc comwng th th• r8qulrements of tho Act vAth respect to aecounling records and the preparallon of 8ccJnts. Thesè accounts have been prepared In 8ccordance wlth the woYlsth6 8ppllcable io rMpanIeS subject tha small companles rerne. ¥D statements on pages 8 to 18 were apwoved by the trustees, and aulthed for L8sue on .. and slgned ijn thélr b8haN by. William lan Brown Chawm8n Page 9
Hllllngdon Communlty Transport Llmited Statement of Cash Flows for the Year Ended 31 March 2025 2025 2024 Not• Cash Ilows from operatlng actlvrtles Nel cash Income 73.452 63.833 Adlu$tment8 to eash flows from nOnSh Items Deprecia0 Invaslrnent Inem 17,859 8,244 69.804 Worklng ¢apltal 4dlustments Incre8sg in debtors (Decreas8ncreasg In credlt Net cash flows from operating aclhrfties Cash flows from Inv•$tlng aetlvitl¢¥ Interest rèc8ivab18 and sSrnilar Iorne Jr¢ha88 ol t8nglble fixed osstts Nat ta8h uséd In Inv8slJng Aclvlt N81 (d8creAs•ylncraase In c8sh and cash equfv8Ln18 C8sh and cash equfvkgnts at 1 AWU Cash And ca8h 8qulvalènls 8131 March 11 12 121,2631 15,5981 56,012 70.894 5,051 2,273 10 227 162,1021 68.667 All ofthè cash flow8 ar8 derfved frorn conllnu6Thg oper8kn8 the atrth ts¥o p*h)d8. Page 10
Hllllngdon Community Transport Llmlted Notes to the Financial Statements for tho Year Ended 31 March 2025 I Charlty status The charity is Ilmlied by guarantee. Incorwrated in England & Wales, and consequentty do8s not ha share caytal. Each ol the tsu5tees L8 lIab io &tritrte an anMNJnt not exceedlno £Nil towards Ihè 8ssels ol the charity in the avent ol Ilquidauon. The address ol its reglstered office Is.. Block B Harflngton Road DeFX)t 128 Hartlnglon Road Hillingdon Middlesex UB83EU 2 Accountlno pollcl•8 Summary of •lgnHlnl #ceountlng pollGl•s and key aceountlng e$tlmat•8 The prlnclpal 3¢Jn.nu polldes apled in the ppar31th of these finandal statements ara setout balow. The3e poll¢ias have been consi8ienlly opplled to all the years preseTiled, unl¢ss othemse slated, Stat8m8nt of compllan The financS8l statements have been ppared In aecordarth vAth Accwntlng and Reportlng by charhs. Slalamènt ol Recommended Practtce appllcaNe to ch8rilk8s ptsparing thelr accounts In 8c¢ord8nea wllh the Financial Reportlng Standard applkable in Ihe UK and Repvbllc of Ireland IFRS 1021 leffectiV8 1 January 20151 . ICh8ritles SORP IFRS 10211, Ihe Finand81 Reporting Standard appltable In th8 UK and Republlc of Ireland IFRS 1021. They akn compty th• CoMpanS Act 2(I)6 and Chari•s Aet 2011. Ba818 of prfrparatlon HllllrYJdon Community Transport Llmhed meels Ihe dofinrtion of a public benefil enlty und8r FRS 102. Ass81s and Ilablllts are Inltlally recognL8ed al historkal cost or tran3adion valuo unlass olherwlse stsled In tha r•lovant acc4yJnllng polity notès. Golng cone•m The trustèes conshJer ¢hal ther8 ar8 no malerial uncertainties abcMJt the ch8rftys ability to conUnu8 as golw concern nor any srt¢ant areas of uncertainty lhat affect Ihe carrj value of assèts he by the charity. Ineom¢ ènd endowmants Income Ss 1ced in Ihe Statementol Flnanryal Actiwuas fsoFA"I forlhe perloj when tha charlty Is legally enlilled to the income and the amount can be quantified with reasonab accuracy. 11 Includ83 grants. membershlp subscriplions 8nd other slmllar Items. Suth Income Is onty not Induded, l.è. deferred. when -the donor specTrfies that the grant or donation rnusl be used in luture acix)untirng poriods.. -th8 donor has Imposed ¢ondltbn8 whth must be met before the eh81ity has un¢ondilDnal enbt18ment. Incoming resources Irom L*arilable actNilies ccffisi5ts oleh8rilable trading income and repr8sents amwnts re¢elvable fof go¢xls and serwces nel of VAT Pagell
Hllllngdon Communlty Transport Llmlted Notes to the Financlal Statements for Ihe Year Ended 31 March 2025 Donatlons andlegacies Donatn8 are recognlsed when the tharity has been Trotifd in 111@ of FJ)th tha arnounl and settlement dale. In the event that a donalion is subjecl to conditsons th81 w¢Jire 8 81 of performanc8 by the charity befor8 the chartty Is ents'td lo tha funds. Ihe income 15 deferred and not recognised until either those CondItn8 are lully mel, or the fulfilmenl olthose conditions Ls Whty wSthln the control ol lh8 charlty and It Is probable Ihal these condits.ons wll be lUlld in Ih8 rewJrbryJ d. Inv•stmentlncom• Interest on funds hekl on d•FX)sll Is Induded th reeefvabkn arJ the annIcan b8 m88sursd rellably by the charlty.. thls L8 rtorrnaly uwjn Th)tffitatvyh on inleresl paid or payable by thè bank. Exp•ndlture l èxpenditure is reugnised once there Is a legal or cAJnstnJctNe obligabon to that XPgnd1lu. tt is probable th81 thè seluemenl Ss reoulr•d and Ihe amjnI ean bg measured re118bly. Ml costs ar8 8lk)cal8d to lh8 applicable expenditure heading that aggregate similarcosls to that caleG4)ry. kn costs cannot b dSrecUy attrSbuled lo particular headlngs Ihey have bèan alWq¢ed on a basls conslslenl th thè use ol résourc8s. S1h cenlral staff costs allvAted on thè baals of Ilma spènL and depredalSon eharges allOcad on th6 por11on ol the asset's us8. Olher 8UPWt c£619 or& 8lkxated based on the syead of staff costs. Ralslng funds These are costs In¢yJrr8d In altracJng voluniarylncome, th• manogomenl of Inwstm¢nts and those Incurrod In tr8dlng acllvitSes that ralse frJnds. Charltsbl• Bcffvilkns Ch8rltsble expendblu ¢oryrises tfv)se costs incurred by th¥ ¢harty In the d61fv¥ry ol Ils acllvllles and 80Nlcès for Its beneflclarfes. It Indudes tmjth costs that be alltId directty 10 8uth and tho8a )sts ol an indirèel nature necessary to supp¢Nt them. Support eoBt# Support costs include cenlial luncllons and hav8 b88n alkxated to aclivity eo$f categorfe8 on a bas18 consistent S1h the usè ol rè8wrces, exampl8, alltIrj Fxoparty ¢>)8ts by knr are88, or per cap4ta. 6laff costs by the time spent and olhèr costs by their usa98. Governanco costs These include the costs attritrArtat4e to tha drI8 c4Jmp1lanc wth ¢yJnsiitulbnal ènd slai(rtory requlrements. In¢luding audll, stratagk mnagement and trust. meeungs and relrnlyjrsed axpenses. Page 12
Hllllngdon Communlty Transport Limited Notes to the Flnancial Statements for the Year Ended 31 March 2025 Taxatlon Tha chaAty is conskl8red to pass the tests set oul In Par8graFth I Schedul8 6 of the Anance Acl 2010 and Iher6fore il rneels the definltion ol a charitat4e company for UK c(Kporalion taK purposès. Accordingly. tha charity Is potentially exempl from tsxalion in resped of k)c(me +y capital galns re1Ved wthin rategorles COV8red by Chapter 3 Part 11 of Ihe coOratIOnTaX Act 2010or Sèctk)n 2S6 oltheTaxation ol Chargeable Galns Act 1992. to the exlenl thJt wch hcoma iy gain8 arè applled 8xdusfvety to thorftable purposes. Depre¢lallon and amortlsatlon The charlty has the use ol four minilxJse$ Ihal are ovmed by olherorg8nisalK)ns. The charity is responslble for the running eosls and Insurance Ixjt il is nol ae to disposg of the vehides wthoul the eonsent of the legal owners. The vehdes are not Included in tangible fixad assals. Purthasès of equlpmenl wlth an Indlvldual co81 of less than £750 are not C8pil8li88d. Asset elass Furnltura and Equlwent Motor Vèhklès D¢preclatlon m•thod and rats 25% straight Iln8 25% strahjhl ltr Trad• deblor¥ Trade debiors are arnJJnts due from Custmrs lor merthandlse s¢ld ors•Thtces perforrned In thè ordlnary course ol buslness. Trade debtors 8r8 recognlsed Inltl81ty at tho IransarAh prk*. Thoy 8rn ¥ubsgqutfilly maasured at amortlsed cost usSng effeclNe interest methc<l. less provisi for irnpairment. A pThi8ion for the Impalrmenl of tr8db dabtors Ls established whan thère Is obie¢¢ive èence that Ihe charlly wlll not be able lo colléct all amounls due axording to the origlnal terms of tha recelvables. Cash and cash èqulval•nls Cash and cash equivalents compris? ¢ash on hand and call deposits, and other short-lemi hlghly Ilqukl Investments that afe Teadlly eonv8rUfr to a knc ¥rTh)unt of cash and are suLlact to an Inslgnlfi¢4nt risk of change In value. Trad• credltors Trade creditors are tsbli9atkx)s to pay Ic¢goods or$eS that have beon 8cqulred In Ihe ordinary course ol buslness frorn suppl¢ors. Accounts payab are da$sled 88 current lIalItIeS If the charity do6s not have an unconditional right, at Ihe end of the reFN2rtlng per, to defer settlement of Ihg creditor for al least 85¥8 months after the reporting date. 11 there Is an uneondilional rfghl lo defer setuemenl lor al1885t twelve mcnlhs after the rewting dale, they ara pr8s•nlad as n4rren1 liabilttles. Trade ¢rediloT8 ar8 r8e(NJnlsed Inllially at the transacdon end subsequenty maasurad Al arnortlsed cost using the effective Interest methiyl. Page 13
Hilllngdon Communlty Transport Llmlted Notes to the Financial Ststements for the Year Ended 31 March 2025 Fund slructure Unr851rfct8d Income furmls are general funds that are 8valLgblg f¢y use at th4 InJst88$' dIsCl)n In lurth8r8nce of the obleetives of the charity. The Tnjslees have Lyeated e$)nated funds frDrn wlthin th6 Unrestred funds. The bus re 8cMent fuNI has b8en created to 5eparalely idenufy funds to be used to purchase neworsec£TrShand vehicles, as required. Thlsyear, the trustee5 decided to refurbish two existing buses, as the flnancial climate was not suKable for the purch880 ol replacement buses. The conting8n fund has been created to albw the charity to clInUe In the event of Ignlftc2nt ¢uts kn funding. Flnanclal Instruments Cla¥slll¢4llon FSnanclal hssels and flnandal11gb1lfi3 ar8 Te¢cwJnlseJ ¥Awn th8 charlty téts2m0$ 8 party lo tha eontradual provisions ol thè Instrument. Flnanclal 11a1111$ and equlty tstrumenls are dasSed accordlThJ to the subslanca of thè contr8ctual arraThJements entèred into. An equlty Instwrnent Is any contro¢1 that evaot8S a re8klual InO$l In t assèts of thè charlty after dadudng all ol Its I811t1&s. Rèeognltlon andmèasurnm8n¢ Nl financial assets and liabllltSes arè Inilialty measured at transa¢Don price fjndudlrrtj transactlon cnstsl. axcepl lor Ih08efinandal assèts da881fied as 8tfalrv8lue through profit orkJ$8, whlch are Inltlalty measured al lalr va8 Iwhlch 18 normal Ihe transacbc4) wke excluding transa¢lKJn cK)slsl. unless the arrang8ment constStutes 8 flnanclng transacucm. If an arraIrnent constitutes a financing ¢ransac0. the flnanclal 88881 or flnanclal Ilabi15ty18 measure¢J at thè present value oltha fvlufe P8ym6nis dSscounled at a markèt rale of Sntar8St for a similar debt InstrurrI. Flnanclal assets and liabifilies are onty offset Sn the balanc4 sheet when. 8ThJ only when there exlsls a legalty enforceable rht lo set off the recoJnlse(5 8mounls and Ihe charity Intends ellher to settle on a nel ba41s, or to reallsé tha 4$8ei and s•td8 ths lat1 sl¢ThJttAnaousty. Flnanclal assets 8r• dère¢ognlsed whèn arKI onty 81 Ihè tontra¢bJal rights ta th8 cash flows from th financial assel exptre or are ¥ettled, bl Ihe charity transfers lo another paty substanlalty all of the risks and rewards ol ownershlp ol the finantial as881, or cl the chaiity, desplte hawng retalned 30me, tyjt not all. slgnificant risks and rawards of IvrshIp. has transferred centrol of the asset to anothér party. Flnanclal Ilabllllles ar¢ dwnL8ad On when lh8 08th)N splfied In th• e4Jnlract 18 dL%thad. cancell8d or expires. Page 14
Hllllngdon Communlty Transport Llmlted Notes to the Financial Statements for the Year Ended 31 March 2025 3 Critical accountlng ludg•ments and k•y $our¢•s of•itlmatlon une•rtalnty In the applicatlon ol th8 Charity's accounting pOle5. whKh 8r8 d8scribed In Notes 2. the trusiee$ldlrector8 arè requlred lo make judgements. estimates and assumptknis about the earrylng 8mDunis of assets and Ilabililies that are nol readily apparent from other sources. The estimates and 8SSOC48ted assumptlons are based on hlstorical expedence and other factors Ih81 ar• wbj*r8d to be relevant. Actual results rnay differ from these estimates. The estlmatés and undertying assurnptions are re•Wed on an ongolng basis. Revi810ns to #eeountlng esllmales are recognised in the period in which the oslimate is rewsed ifthe revision affects onlythal period, or In the perioj of lh8 Toon an¢J bJtuie penods il the Tevi8w affe¢t8 both eurrnnt and future pwh)d8. Crltlcal Sudgements In applylng the eharfty's •ccountlng pollclos M8nagemenl does not considef there lo be any crilKal jLMJgernenis or SIgnCan1 aSmaleS. 4 In¢om• from donatlon• ¥nd 1ogaclè# 2025 2024 Don8tkns and 8CleS. Donatbns Irom 1ndw819 10.CO) 3,1SS 5 l#¢om• Irom charltabl• actlvltj 2025 2024 Charilabb tr8dlng Inc(wne Bus service operators grants Other Income 533.827 11,160 13,312 493,576 8.213 18.775 6 Investhi•nt Ine4)m• 2025 2024 Interest receIvale and slmllar Ir. Inl8res1 receivable on bank dewsits Page 15
Hllllngdon Communlty Transport Llmlted Notes to the Financlal Statements for the Year Ended 31 March 2025 7 Expendlture on eharftsbh actlvW•s 2025 2024 Staff salales & other staff eosts Vehicle costs MIDAS tralnlng nkgteria DeprecLqlion Suppc*l eosts Governance costs 332.212 133,138 315,516 121.434 959 8.243 10,844 17,859 11,285 8 Analy81$ of govemane• and support Go$ts Govornan¢• cost8 2025 2024 Accounl8ncy fts Examinatlon of flnanclal Statements 2.890 2,685 9 Staff costs The aggregate payrdl C18 were as folk. 2025 2024 Staff costs durlng ¢ho y•arw•r•: Wages and salaries Empk)yèrs Nl PensSon costs Other staff5 costs 308.548 15.688 6.512 290,969 14,$07 6.459 The monlhly average number of parson¥ IhKludw senky management t6aml amployed by the charity durfng the year èxprèss as lull Ilme equfv8kknt8 Was as fol.. 2025 2024 No. ofempwes No empk)ye8 re¢efved emolurnents of more than £60.[m) durtrKJ the yew. Pagè 16
Hillingdon Communlty Transport Umlted Notes to the Financlal Stalements for the Year Ended 31 March 2025 10 Tanglble flx•d a$$¢ts Fttrnitur• and •qulpment Motor vehlcl85 Total Cost At 1 Apdl 2024 Additions 12.189 341,439 123 165 353,628 123 165 At 31 March 2025 12,189 Accumula¢¢d 0gpr•clatlon At l April 2024 Charge for th8 yéar Al 31 March 2025 12.189 336,429 348.618 17 12.189 N•t book valu• Al 31 March 2025 At 31 March 2024 11 D•btor8 2025 2024 Trade deblorB Prgpaym8nlS Other debtors 74.501 18,433 63.452 15,711 12 Cr¢dll0rn: amounts falllng du• wlthln on• yéar 2025 2024 Trad8 credltc Other taxation 8nd 8od81 security Oth8r cre<Silors AcuuaLs 10.487 11,222 7,039 2,663 2,501 1,453 Page17
Hllllngdon Cornmunty Transport Llmlted Notes to the Flnanclal Statements for the Year Ended 31 March 2025 13 Fund$ Balance at 1 Aprll 2024 Balance at 31 March 2025 Incomlng Resourc rnsources expended Trnnsfers Unrestrf¢ted fund8 G¢noral General unr8Strfcted fuNI 154,932 573.350 1499.8981 {10,CQO} 218,384 Deslgnaled Invested in fixed assets Bus repla¢emenl fund Conllngéncy fund 508 85,000 Tottl fund8 Balaneeat 1 Aprll 2023 Balancè at 31 March 2024 Ineomlng Resourc8$ r¢sOU¢S expended Transhrs Unr¢8trlet•d funds General General unr6slrfct8d fur#J 114.905 $25.992 1453,9151 132,0501 154,932 Deslgnat•d Investèd in fixéd assets Bus replacemenl lund clIngencY fund 7S2 32,950 {8,2441 32.OSO 131,702 {8.2441 32,050 155,508 Total funds Page 18
Hllllngdon Communlty Transport Limited Dgtailed Statement of Financial Activities for the Year Ended 31 March 2025 2025 Unr8strlct•d funds 2025 To¢al 2024 D¢slgnoled Ggngral Total InGom• and Endowm•nts Irom: Donations and leg8¢le¥ lan&Wd b&lowl Charitable act11188(8nawd b8wI Invaslmanl Income lanatysed bdowl Tolal Incoma 10,OIY) 558,29Y 10,(KKJ S58.299 3,155 520,564 Exp•ndlluro on: R8lslng lund5 lanalysed beky441 Chadlabb act5183 lanatysed bekl 141) 1499.8571 1411 1499,8571 1462.1591 Total eXpdttur6 N8t Incomè 1499.898) 73,452 1499.8981 1462,159) 63.833 73,452 Translèr bètwa•n lunds 10.0 110.(KJO Nel movemenl In fvnds 10m) 63,452 73,452 63.833 Re¢onclllatlon of funds Total funds broughl l(Thard Totsl lunds carrf8d loN8rd 31 Page 19
Hllllngdon Community Transport Llmlted Dgtailed Statement of Flnancial A¢tivitles for the Year Ended 31 March 2025 2025 2024 Donètlons and legacks DorsaiK)n 10,IXK) 3.1S5 3.155 10.fAJ) 2025 2024 Charltoble oc¢lvllhs subscriptn$ Drfvlng assessmentlees F¢8$ and 8uFPl3 Other Incoma Grants recelvatrl8 S.722 9.452 518,653 13.312 11.180 5.974 16,296 471,306 18,775 8,213 520,S64 2025 2024 Investmant Incom• Interest on cash dapos 5,051 2,273 5.051 2,273 2025 2024 Ralslng funds Bad debts wrltten off 41 41 Pwje 20
Hllllngdon Communlty Transport Llmlted Detalled Statement of Flnancial ActlvitAes for the Year Ended 31 March 2025 2025 2024 Charltabl6 acllvltles Wages and SalleS Employels Nl Pension eosls Staff tr8ining Volunleerexwn Rent and rates MIDAS training mèlerlBLs Insur8rtt Computer so8r• and malntenanc8 costs Printing, postage 8nd stalior Trado subscriplK)ns Sundry expenses Motor expensas Aèrtlng Accountancy fees Bank charg85 Dèpr4ci81ion ol molorwhidaa Independent Ex8mlners fees 1308.548} 115,688) 16.5121 {4931 19711 13,5661 1290,9691 114,5071 16,4591 15881 12,9931 13,4241 19591 12,1201 13,5431 18781 14301 161 1121,4341 {2731 12,6851 11701 18.2431 11.99)) 13,929) 11,1671 1215} 12351 (133,1381 1301 I2,8) 11661 117.8591 Pag8 21