COMPANY NO. 01970233 CHARITY NO. 293377 READIBUS IA COMPANY LIMITELI BY GUARANTEEI FINANCIAL STATEMENTS 31 MARCH 2022
READIBUS IA COMPANY LIMITED BY GUARANTEEI CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 CONTENTS PAGE NO. Company Inforfflalion Directors, Report Slalem8nt of D1ctorS, Responsibilities Independent Auditors. Report 10-12 statement of Financial Acliville8 13 Balance Sheet 14 Slalemenl of cash flow8 15 Notes lo the Flnancial Stal&menls 16-27
READIBUS IA COMPANY LIMITED BY GUARANTEEI COMPANY INFORMATION FOR THE YEAR ENDED 31 MARCH 2022 PRINCIPAL & REGISTERED OFFICE: Craddock Road Reading Berkshirfj RG2 OJT AUDITORS: Crowe U.K. LLP Aquis House 49-51 Blagrave Street R@8ding Berkshire RG1 1PL BANKERS: National Weslrninsler Bank plc Oracle Branch Unil L11 The Oracle Shopping Centre Reading RG12AG Page 1
READIBUS IA COMPANY LIPIMTED BY GUARANTEEI REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2022 The Trustees, who are also Directors of the charity, submit their report together with th8 audited financial slatements for the year ended 31 March 2022. and confirm that Ihey comply with the requirements of the Charities Act 2011 and the Companies Act 2006, thus including the Dlreclors, Report and Slratogic Report under the 2006 Act. together with the audited financial slalemenls for the year. REFERENCE AND ADMINISTRATIVE INFORMATION ReadiBus is a charitable company limited by guarantee, company reglslration number 1970233, charKy registration number 293377. The company, not having a share capital, is limited by guarantee. Each member's liability is limited to an amount not exceeding £1 in the event of the Company being wound up. The present Trustees, and any past Trustees who served during the year. are given on page 7, together with the names of the senior executive staff. The principal place of business is staled on page 1. STRUCTURE, GOVERNANCE AND MANAGEPAENT Govemlng Document The company is governed by its Memorandum and Art(cles of Associabon dated 11 December 1985, as amended on 17 Dember 1986, 27 June 1996. 26 Jur¢e 2003, 2nd Mar¢h 2017 8nd 27th July 2021. Governing Body The Board of Trustees is responsible for the overall governancè of th8 Charity. Trustees are oppoinled by funding bodies (Reading Borough Councll 5. Wesl Berkshire Council 1, Wokingham Borough Council 1, Woodley Town Council 1. Earley Town CouncAI 11,. elected by the ReadiBus Association 16}.' elected by ReadiBus users {3},' and appointed as co-oplees lup lo 41 or Offir5{2}. RecruiTtment and fraininy of Trustees Potent181 Trustees arts identified by members ol the Governing Body and are consideied against the Body's specifications concerning eligibilily, competence. eCialiSt skills and local availability. Induction and refresher training is offered to all Iruslees. Organlsational Management Within the organis8tional structure. day-to-day d8cision-maklng is delegated to the staff, in particular the Genèral Manager. The Board decides mallers ol policy. The Governing Body meets 5 limes a yèar. Much of the preparation for these mèetings is undertaken by the briefing committee which meets before the Board meets. Other sub-commlllees ilUde the policy group and the audit group. Both sub-commillees report back lo the Board. The General Manager is resporÈsible lor the day-lo-day management of the Charity's affairs and for implementlng policies agreed by the Board of Trustees. The General Manager is asslsled by a group of gxeculives 8nd senior managers. Key Management Pernonnel Remuneratlon The Iruslees consider the board oflruslees and the broader staff management team including team leaders and operatic>ns controllers as ¢omprising the key management personnd of the charity, having authority and responsibility for planning. directing and cc*ntrolling the activities ol the charity, directly or indirectly, on a day to day basis, All Iruslees give of their lime freely and no Iruslee remun&ralion was paid in the year. Details of Iruslee &xpense8 and related party Iransacllons are disclosed in note 7 to the accounts. The pay of the charills key stalf manaoemenl personnel is reviewed ann¥Jally. The Board's remuneration group (Chair, Hgn Tieasurer and Hon Secretary) reviews and compares remuneration lo that in other similar non-profit or public sector organisalions. Page 2
READIBUS IA COMPANY LIMITED BY GUARANTEEI REPORT OF THE DIRECTORS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Group Strncture ReadlBus has a OllY owned non-charilable subsidiary, ReadiBus Enterprises Limited that is dormant Corporate Governance Internal controls ov8r all fomis of commitment and expendllure continue lo be relined to improve efficiency. Processes are In place lo ensure that performance is monitored and that appropriate management information is prepared and reviewed regularly by l)olh the executive management and the BoaTd of Trustees. The systems of Internal control are designed lo provide reasonabb but not absolute assurance against material rnisstalement or loss. They include.. a strateg business plan and annual budget approved by the Trustees., regular consideration by the Trustees of financial results, ievlsed forecasts, non-fin8ncial perfoTm8n indicators and benchrnarking reviews., delegation of day-to-day management aulhorlly and s&gregation of duties., and identification and management of risks. Rlsk Management The board has exaTnined the principal area ol the charity's operations and considered what major ri8k8 may arise in each ol these areas. the opinion of thè Trustees the charity has established resouf¢es and review systems, which undèr normal conditions. should allow the risks identified by them to be miligaled lo an acceptable level in ils day-ILkday operations. Prlncipal risks and uncertainties have been identif18d as UK or World economic factors Irecessionl or changes in so¢¢al alliludes.. potential changes in funding SLJPPOrt from local aulhorilies., appeal or donation activity that is unable to generate suffi¢ienl funds lo finan the required capital expenditure programme., a major accident., and insufficÈent reserv6s lo provide a bL¢ffer in a downturn. Plans ID mitigate these principal risks include building up the charitys reserves. defefflng capital expenditure., and close management of ¢ash-flow and budgellng. In additlon lo the above, there is an additional risk al the present time posed by the impact of the Cowd~19 pandemic. Whilst adequate conllngències are in place for the short-lerm impact, including government support-schemes, sound cash-flow and reserves, there are risks associated with the impact in the longer- term {>12 months). These risks include the impact on futufe revenue from a potential continued need to mainlaln distancing on journeys, restTicling maximum bus capacity., and any potenti81 impact on central government funding of local authorities that might affect future funding of ReadiBus. Management of these longeT term risks will incluLfe a need to bolance levels of sorvice-provislon accordingly in SUGh s¢enarios. Fund-raising Re8diBus' fund-ralsing is principally from Trusts and Foundations as well as fro stalulory and government agencies. We also are fortunate lo e1ve donations and occasional legacies from individuals, particularly from people who either use or hav8 used the servico and have wished to show their appreclalion. ReadiBus does not engage in large scale fund-raising activities like mass mailings, telephone fund-raising or door-lo- door campaigns. ReadiBus does not omploy a professional fund-rai8er nor engage the services of any Ihlfd-party OTganisal¢ons to help ralse funds. To this end. ReadiBus has not considered il necessary or approprsate lo slgn up lo any regulatory code of fundraising practi. ReadiBus has not receiwed any complaints about any 8sPO¢t of ils fund-raising. R8adiBus has a strong ethos of respect for service-users. independence and dignity and would not Countenan any conduct or activities that undermined this. Page 3
READIBUS IA COMPANY LIMfTED BY GUARANTEE) REPORT OF THE DIRECTORS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 OBJECTS, AIMS, OBJECTIVES & ACTIVITIES Charltable Objects The companls declared object is the provision of a scheme, for Ir8nsport of elderly and temporarily or permanently disabled people within the Reading and SLJrrounding area, with a view to providing them with a system that will cater for their individual PUTP05es and needs. The company also PTovldes disabslily training for local authorities and public service vehicle drivars, although thls is not deemed as being a signilicanl part of tho company's actimlies. bul just an exiension of the company's main objective. Strategic Aims and Intended Effect ReadiBus aims to cater for a wide range of mobility and accessible tran5POrt needs, in particular lo maintain the provision of dial-a-ride se¥vices lo people with restricted mobility. 11 is commilled lo achleving the hlghesl quality of service provision and lo achieving continuous furth@r improvement in that aim. The Trustees Confirm that they have refeed to the guidance contained in the Charity Commission's general guid8nce on public benefit when reviewing lh& Charity's aims and ct>jactives and in planning future activities. Objectlves for the Year This yearfs key objectives were lo- To re-build viable service capacity after Ihe pandemlc had passed and forwhen condltlons returned to something resembling the prèvious normal To introduce a programme of trips lo help facilitate peop18 who had been shielding during the pandemic lo go out again for pleasure purposes To continue lo provide a safe means lor people with restricted mobility to allend hospital appointments in addillon to the previous pre.pandemic range of activilios and purposes of use of the ReadiBus service. TO dispose of the three old8st vehicles in the fleet. TD improve vehicle emissions by introducing a programmo of rèplacing older vehicles with cleaner- powered new vehicles ReadiBus' achievement against ils objectives is discussed under the headlng of Achievements and Performance detailed below. Strategles to Achieve the Years Objectlvès ReadiBus planned to achieve the introduction of a programme of trips to help lacililale people who have be8n shielding during the pandemic to go OLSI again for plea5uie purposes by applying for specifi'c funding for this purpose. The achiev8menl ol a contlnued safe means for Ople with restricted mobility to allend hospital appointments In addition to the pvIOuS pre-pandemlc range of activities and purposes of use of thè ReadlBus service was planned through maintenance of comprohensive procedures and cleaning regimes to keep the Iravelling &nvironment as safe as possible. Use of Voluntgers In noTtMal limes, user volunteers support networking events and assist with promotion and representation and a volunteer driver assists in providing the football supporters, service. The contribution of volunteers alc>ngside that of pald staff Is of groat value. These networking evernts and the football service did not take place during the pandemic. Page 4
READIBUS IA COPJJPANY LIMITED BY GUARANTEEI REPORT OF THE DIRECTORS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 REVIEW OF ACHIEVEMENTS AND PERFORMANCE FOR THE YEAR Operallonal Performance Over 56,000 sale e5senli81 journeys were provided during the year for people with restricted moblllly. many of whom were 'clinically extremely vulner8b]e', representing more than double that provided during the first year of the pandemic. A successful programme of trips to help facilitate people who had been shielding during the pandemic lo go out again lor pleasure purposes was provided throughout the year, following 8 8u¢¢essful appllcalion for a donation for this purpose. The ReadiBus seTvice enabled people lo safely allend medical appointments including al GP surgerles and al hospitals,. lo do their own essential food shopping- arnd to make any other ossenlial journeys that needed to be made, such as for respite or for vulnerable speclal needs pupils lo all@nd school. Two older buses in the Ileel wgre disposed of and an order was placed for one new cleaner- powered replacement bus duiing the year. There have been no other significant changes in the yeai. Public Beneflt The Trustees Consider that the activities ¢arried out by ReadiBus durlng the past year Illuslrale that they hav8 provided conslderable berEefil lo the publ as summarised above. The Trustees have therefore complied with their duty in section 1715} ol the Charities Act 2C1111o have due regard lo the Charity Commission's published genoral guidance con¢eming the opèration of the publi¢ benefit requirement under that Act FINANCIAL REVIEW AND RESULTS FOR THE YEAR The Statement of Financial Activities set out on page 13, shows that income has decreased by 13.31K and that 8xper¢dilure has decreased by 6.3¥0. There was an overall nel inflow for the year of £150,042 (2021.. inflow £252,262). After Investment in replacement buses and IT equipment, free Tes¢rves after conlra¢tèd financial commitments were £226,985 (202q.- £142,530). The ¢onlinued uncortainlies in the year- caused by the pandemic., by the renewal timescale of the contract arrangement with ReadiBus' primary funder., and by the slow evoluliDn ol the market for suitable vehicles that comply with the forthcoming environmental requirements regarding vehicle emissions has meant that investment de¢isions1guch as in replacement busesl have again b8@n mostly defer¥ed. Investment funds have been carried forward to the fo11owiro financiAI year when outcomes will be clearer and capital investment decisions will therefor8 be better informed. This as it happens has also put ReadiBus in a stronger position lo deal with the impact of the Covid-19 pandemlc. in addition lo the ulllisalion of the pandèmic support schemes of local and national government, which have conlributed immensely lo on- going viability as a going-Goncern and the wtenlial lo re-build in the aftermath of the pandemic. ReadiBus is extromely grateful to it8 fLJnders, particularly Reading Borough Council. wilhoul whom the service would not exist. Without its funders, ReadiBus would not have the capacity to meet ils objectives. Local authority furndeis and supporters in 2021122 have been". Reading Borough Councll Wokingham Borough Councll Woodley Town Council )Nesl Berkshire CoutKiI Earfey Town Council Newbury Town Council Thatcham Town Council Wokingham Town Council Goring Parish Council Sonnlng P8rish Council Pagè 5
READIBUS IA COMPANY LIMITED BY GUARANTEEI REPORT OF THE DIRECTORS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 ReadiBus has also been supported In 202112022 by a number ol ¢ompanies and organisalions in ¢8sh or in klnd and by a numbeT of Individuals loo numerous lo manlion all. To everyong who has contributed lo ReadiBus over the last year and lo the Directors, Staff and volunteers of ReadiBus, a big thank you and we hope that you continu& to provide your help. support and enthusiasm into the coming year. FINANCIAL REVIEW AND RESULTS FOR THE YEAR {CONTINUEDI Reserves Poll¢y The amount of lotsl funds held bythe charlty at the end of the reporting period was £981,962 (2021.. £831,920). The amount of funds which are reslricled and not 8vallable for general purposes of the charity al the end of the Teporting period were £39,475 (2021.. £74,885). Designatèd funds are £640,000 (2021.. £640,OOOJ with thè view that the value of the fund should equate lo the approximate cost of eight new buses in ordér to maintain the current Ileel size based on anticipated vehicle life, due lo the deferral in recent yeaT$ ol new bus replacement. ReadiBus needs free reserves to 8nable il lo fulfil its ch8rilable obligations and commitments that il enters into. The chatily also requires reserves lo ensure continuance ol these obligations in Ihe short-term in the evenlualily of any unexpected revenue shortfall. Freg serVeS are defined by the Charity Commission as unreslricled funds available lo spand on the general purposes of the Charity and therefore exctuding those designated for parti¢ular purposes and tt)ose aSready utilised in PL¢rchasing tangible fixed assets. Free reservés should not be mistaken for cash reserves. After adjusting unrestricted funds forlunctlonal fixed assets and d8slgnalions, free reserves before contracted rinancial commilrnenls stood al £299,11212021.. £142,530). There were contracted financial commitments as al 31 March 2022 Df £72,127. (2021.. nil). After allowing for conlracled financial commilm&nls, free reseTves were £226,985 {2021.' £142.5301. Free reserves reprosenl approximately 21.2¥0 of annual turnover lor approximately 90 days12021.. 53 days) of normal running costsl. Trustees have been concerned lo signrficanuy increase ReadiBus' resilien to uncertainties by signifiGanlly increasing reseNes in the short-lerm lo ensure viability as a going-concern in whatever scenario emerges posl-pandemic and post-conlracl re-lendefing. Any Capital investment musl be for the long-lerm so capttal investment will mostly continue to be deferred until Gircumslances are clearer, particularly relating lo the powering of future vehicles. Readi8us' ¢urrenl policy for the current year is therefore lo aim for fréa reserves of al least 12 moNths' nomial running costs, al least until such lime as normal operating ¢ondilions return. The Trustees believe that the rèserves should be held wnsislenl wilh the charills overall financial position and its need to maintain and develop ils charitable objectives. FUTURE PLANS Whilst the company's key objectives for the future remain the same as that described above. thè Directors. together with the General Manager, havo a rolling strategic plan that is updated annually. Plans for the coming year include., To continuè lo re-build viable service capacity after the pandemic has passed To provide 8 second year of the programme of trips lo help lacilitale people who have been shielding during the pandemic lo go out again for pleasure purposes To ¢onlinue lo provide a sale mean8 for people with reslricled mobility lo allend hospital appointments in addrtion lo the previous pre-pandemlc range of activities and purposes of u8e of the ReadiBus service. To dispose of three more of the older vehicles in the fleol. Page 6
READIBUS IA COMPANY LIAIITED BY GUARANTEEI REPORT OF THE DIRECTORS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 FUTURE PLANS {CONTINUEDI To wder al loast one more new vehicle as part ol the programme to impTove vehicle emissions by replacing older Veh0$ th clèaner-power8d nèw vehides To achieve successlul re-accredilation gs an 'lnveslor in People, for the 29ih consecutsve year Our plans lor tho future also include the usu81 rang• of ftjnd-raislng evenls and aclivthes. Going Concem Basls In Iheir aysessmenl of gn9 eonc6m the truslees have considwed the current and potentlal future impact on the ¢harily a5 a result of th& COVID19 pandemlc. This has had a signllicanl Smpacl on the ¢harily's opeialions and will continue lo do so for quite me lime. The trustees have updated their annual budgets and forec8sIs based on current eslimales ol the Impact of the current crisis and undertaken actions. such as applytng lo government asslslance support packages and checklng that there are sufficient revenue streams. ¢ash-flow and rèservès. in order lo ensure that they have sulfKient fa¢ilities in place to meet Iheir oper81ing cash roquiremenls for the foreseeable lulure. Another uncertainly is the renewal of the RBC conlracl which expires on the 31 March 2023. This income is a Sbgntficanl amwnltolhetharity and therefore If not fgnewed actv)n will need lo be taken lo mlligale the Impact. Having regard lo the above, the director8 believe It approprlale lo adopt the golng concem basi8 of 8ccountlng in prepaling the linancial slalement8. DIRECTORS Th8 diredors durlng the year V•*re as fc41ows:_ Chair= Prof S Bowlby Other As8oclal¢ Directors.. Mr P Etherfngton-smilh Prof R Gumey IAr B Wedge IAr R Williarns Local Aulhorlly Appointments.. Cllr Mohammed Ayub (Readlng Borough Council Cllr J Beck (Wesl Beshie County Council) (resigned 06.11.20211 CIIT G Grandison (Wokingham Borough Council} Cllr G Khan IRe8ding Borough Council} Cllr A Heap (Weodley Town Counclll (appointed 06.11.2021} Cllr T Maher (Earley Town Counclll Cllr R Williams (Reading Borough CourKIII Mr Mlchael Tran (appointed 12.11.2021) Service-user.. Other Co-opknons.. MI R Duveen Honorary Secretary.. Mr T Bottomley Honorary Treasurer.. Vacant Pagè 7
READIBUS
(A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE DIRECTORS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
Key Staff Management Mr P Absolon - General Manager
Personnel: Mrs K Chapman Mrs T Chapman Mr S Hermes Mr T Husbands Mrs E Johnson Mrs H Wightwick
PROVISION OF INFORMATION TO AUDITORS
Insofar as each of the directors of the charity at the date of approval of this report is aware there is no relevant audit information (information needed by the charity's auditor in connection with preparing the audit report) of which the charity's auditor is unaware.
Each director has taken all of the steps that they should have taken as a director in order to make themself aware of any relevant audit information and to establish that the charity's auditor is aware of that information.
AUDITORS
The Auditors, Crowe U.K. LLP will be proposed in accordance with section 485 of the Companies Act 2006.
In preparing this report, the directors have taken advantage of the small companies exemptions provided by Section 415A of the Companies Act 2006.
This Annual Report, prepared under the Charities Act 2011 and the Companies Act 2006, was approved by Strategic Report contained therein, and is signed as authorised on its behalf by: the Trustee Body of ReadiBus on 28 July 2022 including in their capacity as company directors approving the
S Bowlby Director Vl!-,)VV'-.W'--..��
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READIBUS IA COMPANY LIMITED BY GUARANTEEI STATEMENT OF DIRECTORS, RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2022 The Trustees Iwho are also directors of ReadiBus for the purposes of company saw) are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Pra¢li¢e Iunlled Kingdom Accounting Standards}. Company law requires the TTUStees lo prepare financial statements for eath financial year. Under company law the Trustees musl not approve the financial statements unless they 8r6 satisfied that they give a true fair view of the State of affairs of Ihe charitable company and of the incoming resources and application of resoLJrces, including the income and expendbture, of the charitable company for that period. In weparing these financial statements, the Truslpes are required to.. select sullable a¢¢ounling polici85 and Ihen apply them consislenlly.. observe the methods and principles in th? Charities SORP- make judgments and estimates that are reasonabl& and prudent.. stale whether applicable UK accounting standards have been followed, subj8cI to any material departure8 disclosed and explained in the financial slalements,. and prepare the financial slalemenls on the going Concern basis unlass it is inappropriate lo presume that the charltable company will contlnue in buslness. The Trustees are responslble for keeping adequate accounting records that are sufficlent lo show and explain the charitable company's IransaGtions. disclDse wth r63sonable accuracy al any time the financial position of the charitable company and enable them to ensure that the financial slalements comply with the Companies Act 2006 and the provisions of the char¢ty's Conslitulion. They are also responsible for saleguarding the assets of the Charity and hence for taking reasonabl? steps for the pravenlion and delect¢on of fraud and other irregularities. Page 9
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF READIBUS Oplnlon We havè audited the financial statements of ReadiBus for the year ended 31 March 2022 whlch comprise tho Statement of Financial Aclivilies, Balance Sheet, the Slalem8nl of Cashflows and nol8s lo the financial slataments, including significant accounting policies. The financial reporting framework that has been £ppliod in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Stsndard 102 Thè Financial Reporting Standard appllcable in the UK Republi¢ of Ireland Iuniled Klngdom Generally Accepted Ac¢ounlin9 Practice). In our opinion thè flnancial statements.. gwe a true and fair vi8w of the state of the ¢h8ritable company's affairs as 8131 Mar¢h 2022 and of ils income and expenditure, foT the year then ended.. have been properly prepared in accordance with United Kingdom Gen8rally A¢¢epted Accounting Pracllce,. and have been prepared in accordance wTlh Ihe requirements ol the Companies Act. Basis for oplnlon We conducted our audit in accordance with International Standards on Auditing IUKI {ISAs IUKI) and applicable law. Our responsibilities under those standards are further described in the Auditorfs r8sponsibililies lor the audit of the financial slalements 8e¢lion of our report. We are independent of the charltable company in accordance with the ethical requirements that are relevant lo our audit of the financ¢al slalemenls in the UK. including the FRC'S Ethical Standard, and we have fulfilled our other ethical respor)sibililies in accordance with these requirèments. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opink)n. Conclusions Yelatlng to golng concern In auditing the Iinancial slatemenls, we have concluded that the Iruslee's use of the going concern basis of accounting in the preparation of the fi'nancial slalemenls is appropriate. Based on the work we have performed, we hav6 not identifi'ed any material uncertainties relatlng lo events or conditions that, individually or ¢olleclively, may cast significant (k)ubl on the charitable company's abiif(y lo continue as a going concern for a peric of at least twelve months frotn when the financial statements are aulhorised lor iSSLJe. OUT responsibilities and the responsibilities of the Iruslees wth respect lo going concern are de8crlbod in the relevant sedlons of this rewrt. other information The IrLtrslees are reswJTrsible for the other information contained within the anr)u81 report. The other information comprises the information included in the annual report, olherthan the financial slalements and our auditor's report th&raon. Ou¥ opinion on the financial ststemenls dL*s not cover the olh6r information and, except lo the exlenl otherwise explicitly slated in our report, we do not expiess any form of assurance conGlusion thergon. OLJr responslbilily is to read the c>lher information and, in doing so. consider whethèr the other information s materially inconsislenl with the financial statements or our k[ledge obtained in the audit or otherwise appears to be materially misstated. If we idenllfy such material inconsistencies or apparent material misslalemenls, we ar8 required lo determine vthether this gives rise lo a material misslatemenl in the financial slalemenls themselves. If. based on the work we hav& performed. we conclude that there Is a material mlsslalement of this other information, we are required to report that fact. We have nothing lo report in this regard. Page 10
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF READIBUS (CONTINUED) Oplnlons on other matters prescrlbed by lh& Companios Act 2006 In our oplnion based on the work undertaken in the course of our audit the information given in the Iru8168s' report, which includes the directors, report prepared lor the purp¢>ses of company law, for the financial year lor which the financial slalerments are prepared is consislenl with the financial slalemenls-, and the directors, report include4J within the Irustees. report have b8en prepared in accordance with applicable Ial requirements. Mattars on whlch we are required to report by exceptlon In Ilghl of the knowledge and understanding of the chari18blB company and their environment obtained in the cours8 of the audit. we have not identified material Misstatemen in the directors, report Includ within the trustees, report. We have nothing lo report in r6specl of the following mallers in relation to whith the Companies Act 2006 iequires us to report lo you if, in our opinion.. adequale and PToper accounting records have not been k8pl,' Dr the finanGial slalemenls are not in agreement with the accounting ieGords and returns,. or certain disclosures of trustees, remuneration SPlfIed by law ar& nc>l made.. or we have not reGeiv&d all the information and explanations we require lor our audit. The trustees were not entitled lo prepare thÉ financial slalemenls in accordance wlh tho small companies regime and lake advantage of the small companies exemption in preparing the twslees, report. Responsibllitle5 of trustee$ As explained more fully in the Iruslees, responsibilities statement sel out on page 9, the trustees (who are also thè directors of the charitable company for the purposès of company law) are responsible for the preparation of the financial slal@menls and for being satisfied that they give a truè and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are frÉ@ from material misstatement, wh@ther due to fraud or error. In preparing the financial stalemenls. the Iruslees are responsible for a8sessing the chaiilabl8 companrfs ability lo Continue as a going Concern, disclosing, as applicable, mallers related lo going concern and using the going concern basis of accounting unless the trustees either intend lo Ilquidale the charilablo company or lo cease operations, or have no realistic allernalive bul lo do so. Auditor's responslbilities for tha audit of the financlal statèments Our objectives are lo obtain reasonable assurance aboul whether the financtal slalemenls as a whole are free from material misslalemenl, whether due lo fraud or error, and lo issue an auditor's report that includes our opinion. Reasonable assurance is a hlgh level of assuranG¥, bul is not a guarantee that an audit conducted in 8ccordance with ISAS IUKI wlll always detect a material miEstalemenl when il exists. Misstalemenls can arise from fraud or error and are ¢onsidered material if, individually or in the aggregate, they could reasonably be expected lo inftuence the economic decisions of users taken on the basis ol these linanci81 slalemenls. Delalls of the exlenl lo which the audit was considered capable of detecting irregularltles, including fraud and non.compliance with laws and regulations are set out below. A further description of our responsibili1185 for the audit ol the financial statements 18 located on the Financial Reporting Council's website al: www.frc.or auditorsres onsibilities. This descrlplion forms part ol our auditor's report. Extent to whlch the audlt was consldered capable of detectlng Irregularltl•s, Including fraud Irregularitles, including fraud, are inslances ol non-compliance wlh laws and regulations. We Idenlilied and assessed the risks of material misstalemenl of the finala& slalemenls from irregularities, whether due lo fraud or error, and discussed these between our audit team members, We thèn designed and performed audit procedures responsive lo those risks, Induding oblaining audit evidence 8uffKi@nl and appropriate lo provide a basis for our opinion. Page11
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF READIBUS (CONTINUED)
We obtained an understanding of the legal and regulatory frameworks within which the charitable company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006, the Charities Act 2011, together with the Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charitable company's ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company for fraud. The laws and regulations we considered in this context were Charity Commission legislation, health and safety legislation, General Data Protection Regulation (GDPR), employment legislation and Company Law.
Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any.
We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the override of controls by management. Our audit procedures to respond to these risks included enquiries of management about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence and reading minutes of meetings of those charged with governance.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non compliance with all laws and regulations.
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 charitable company'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 charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Janette Joyce
Senior Statutory Auditor For and on behalf of Crowe U .K. LLP Statutory Auditor Reading
Date: 4 August 2022
Page 12
READIBUS IA COMPA14Y LIMITED BY GUARANTEEI STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME & EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2022 Unrestrlcted Réstricted Funds Funds Totsl 2022 Tol81 2021 Note Income and èndowments from: Donatlons and legacles Donations and 18gacies Income from charltable actlvltles Bus faTe and contract work income Grants receivablè foi bus 8eNlces Othar tradlng actlvltles Training service fee income InGomo from investment other Income Govornment Grant- CJRS 17,809 26.026 42.834 18,316 880,016 100,589 880,016 100,589 873, 731 93,a78 6.100 89 26,260 6,100 89 26.260 400 210 20.427 227 603 TOTAL INCOME Expendlture on: Expendlture on Charitable actlvltlos Provision of bus sèrVIS 6a 920 022 436 920 457 982 303 TOTAL EXPENDITURE Exceptional pension credit 15 NET INCOMEIIEXPENDITUREI AND MOVEMENT IN FNDS 126,452 24,590 160,042 465, 262 Funds al l April 2021 366 658 FUNDS AT 31 MARCH 2022 14 83 The notes on pages 16 to 27 fomi part of these financigl slalemenls Page13
READIBUS
(A COMPANY LIMITED BY GUARANTEE)
BALANCE SHEET 31 MARCH 2022 COMPANY NUMBER: 01970233
| Notes £ FIXED ASSETS Tangible assets 8 Investments 9 CURRENT ASSETS Debtors 10 93,834 Cash at bank and in hand 930,754 1,024,588 CREDITORS:amounts falling due within one year 11 (46,003) NET CURRENT ASSETS NET ASSETS FUNDS Unrestricted - General - Designated 12 Restricted 13 TOTAL FUNDS 14 2022 £ £ |
£ 3,375 2 3,377 978,585 981 962 302,487 640,000 39,475 981 962 |
2021 £ 34,505 2 34,507 97,263 740 244 837,507 (40,094) 797 413 £ 831 920 177,035 640,000 14 885 £831 920 |
|---|---|---|
Approved and authorised for issue by the Board of Directors on 28 July 2022 and signed on its behalf by:-
S Bowlby Director
The notes on pages 16 to 27 form part of these financial statements
Page 14
READIBUS IA COMPANY LIMITED BY GUARANTEEI STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022 2022 2021 Cash generated by operatlng actlvltleslsèo below).. 178,554 321,835 Cash flows from Invostlng aclivltles Inle¥est income Proceeds from sales of fixed assets Purchase of fixed assets 89 6.855 210 401 191 Change In cash and cash equlvalent5 at the end of tho year Roconciliation of net cash flow to movement in net fundsldebt Net funds at 1 April 2021 Increase in cash In the year 735,990 184 498 414.346 44 Net funds at 31 March 2022 Analysls of cash and cash èqulvalents Cash in hand Bank overdraft 930,754 740,244 Toial cash and cash equivalents at 8nd of the year Re¢onciliatlon of cash flows from operating actlvltles Nel movement in funds Defined benofil pension movements Depreciation and amortisalion Profil on disposal of fixed assets Decrease in debtors Increasel(De¢reasel in creditors Interest income 150,042 465,262 (213,000) 45,417 31,108 16,8331 3,429 11031 89 29,390 f5,024J 210 Net cash provlded by operatlng actlvltie$ The nolgs on page8 16 to 27 form part of Ihesa financial stslemenls Page15
READIBUS IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 MARCH 2022 ACCOUNTING POLICIES Charrty Informatlon ReadiBus is registered as a company limited by guarantee {wilhoul share capital) incorporated in the UK with ils registered Offi al Craddock Road, Reading. Berkshira. RG2 OJT. Ils prin¢ipal activity is the provision of a scheme, for transport of the elderly and temporarily or permanently disabled people within the Reading and surrounding area. with a view to providing them with a system that will cater for their individual purposes aNd needs. bl Basls of preparatlon The financial slalemenls have been prepared In accordan wlh Accounting and Reporting by Charities.. Slalemenl of Recommended Practi applicable to charities preparing their accounts in cordance with thé Financial Rep¢)rting Slandard appliG8ble in the UK and Rapublic of Ireland IFRS 1021 (efleclive 1 January 20151 {Charilies SORP {FRS 10211, the Financial Rewrting Standard applicable in the UK and Republic of Ireland IFRS 102) the Companies Act 2006. ReadiBus meets the dofinilion of a public benefit enlily under FRS 102. Assets and liabilities are initially r8cognised al hlstorical cost or transaction value unless olherwse stated in the relevant aGGounling policy note Isl. Golng Concgrn In thelr assessment of going concern the trustees have considered the current and potential future impact on the charity as a result of the COVID19 pandemic. This has had a significant impact on the charity's opeyalions and will continue lo do so for quite some lime. The trustees have updated Iheir annual budgets and forecasts based on current estimates of th& impact of the current erisis and urKlertaken actions, such as applying lo govemm8nl assistance support packages and checking Ihal there are sufficient revenue streams, cash-flow and reserves, in ord8r lo ensure that Ihey have sufficient facilities in pla to meet their operating cash requirements for the foreseeabSe future. Another uncertainly is the renewal ol the RBC contract which expires on the 31 March 2023. This income is a significant amount lo the charity and Iherefoie if not renewed action will need lo be taken to miligale the impact. Having règard to the above. tho dire¢lors belleve it appropriate lo adopt the going concern basis of a¢¢ounling in preparing the financial slalements. Income recognltlon policlos Income from donations and special efforts are recorded on a receipts basis. Grant Income is included when the related condition for logal enlillernent lo tho granl has be&n met. Contract income is Included en the relevant performance conditions within the contract have been mel. All other income is recorded on a receivable basis. The CJRS (Coronavirus Job Retention Schem9} grant is accounted for under the performance model as permitted by the Charity SORP. CJRS income is therefore recognised on a straight lirbe basis over the furlough period for each relevant employee. Page 16
READIBUS IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 MARCH 2022 ACCOUNTING POUCIES {CONTINUEDI dl Funds General fund.. These are funds whlch can be used in accordance with th& charitable objects at the discretion ol the directors. Designated fund.. 11 is Ihe view ol the Trustees that the value of this fund should equate lo the approximate cost of eight new buses In order to maintain the ctjrrenl fleet size based on anticipated vehicle life, Restncled fund.. R8slricted funds are to be used for specified purposes laid down by the donor. Expenditure for thos& purposes is Charged lo the fund. For rnore detail on this fund please see note 13. Expenditure Expenditure is recognlsed In the Slalemenl of Financial Aclivilles (SOFA) as Incurred. Exp6ndilure on charitable aclivilies relates to the wovision ol the bus seTvice and training. Support costs are those functions that assist the work of the charity bul do not directly undertakè charitable activities. Support Gosls inGlude back office costs, finance. personnel, payroll and governance costs whlch support the charities, activities. These costs are apportioned to the applicable expenditure headings as sel out in note 6c. Depreclatlon and capltallsatlon of tanglble flxed assgty Fixed assets are depreciated over their expected useful economic lives as follows.'- Bus@s Office equipment Fixtures and fillings 20_ 50410 Straight Ilne 25% slraighl line 25Yo slraighl lin8 Contributions towards the cost of fixed assets are included as income whllsl the gloss cost of fixed assets are capilalised. Items under £500 are not capblalised. Debtors gl Trade and other debtors are recognised al the settlement amount due. Prèpayments are valued al the amount prepaid. Credltors and provislons Creditors and provisions are recognised where the charity has a present obligation resulllng from a past event that will prObaY result in the transfer of funds to a third party and th8 amount due lo sellle the obligation can be measured or estimated r&liably. Creditors and provisions are norrnally recognised al their settlement amount. h) Pag& 17
READIBUS IA COMPANY LIMTED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 ACCOUNTING POLICIES {CONTINUEDI Operatlng leasès Rentals payable under operating leases are allocated lo the SOFA on a slraighl-line basis ovei the lile of the Sease, Legal status ReadiBus is a company limited by guarantee and has no share capital. In the event of the charity beiny wound up. the liabilty in resp6cl of the guarantee is Ilmiled to £1 per member ol the charity, Financlal Instruments k} The chBrily only has financial assets and financial liabilities of a kind that qualify as baslc finanaal instruments. Basic financial in5trumtsnls are Initially recognised at transaction value and subsequently measured at their selllemenl value. Penslon costs The company operates a delined contribution pension scheme. The chafge in the SOFA is the amount of contributions payable lo the pension scheme in respect of the ac¢ountsng year. ml Crltlcal accountlng ludgements and kgy Sources of estlmatlon uncertalnty Preparation of the financial slalernents requires management lo make judgements and eslimales. The Trustees consider that ther8 are no material judgements. Page18
READIBUS IA COMPANY LIPhlTED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 BUS FARE AND CONTRACTWORK INCOME 2022 2021 Dial-a-Ride Contract- Reading BDrough CounThl Bus fare income Other Contract income 450,000 259.004 171 012 450.000 279, 799 143 932 GRANTS 2022 2021 Wokinuham Borough Council Wesl Berkshire Council Woodley Town Council Wokingham Town Council Earley Town Council Goring Parish Counci1 Falklands Surgery Thalcham Tow¢) Councll Newbury Town Council Berkshire Community Foundation Sonnlng Parish Council 65,000 s.000 19,422 500 1,500 350 65.000 6,567 19,211 1,500 350 1,250 1,000 1,000 6.667 150 NET INCOMEIIEXPENDITUREI 2022 2021 Is slated after charging= Depreci81ion of tangible assets Auditors, remuneration (excluding VATI Rentals payable under operating leases 31.108 10,130 45,417 9.650 OTHER INCOME 2022 2021 Fuel duty rebate Profil on disposal of fixed assets 20,427 20,427 Page 19
READIBUS IA COMPANY LIMTED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 PROVISION OF BUS SERVICES COSTS 2022 2021 Staff costs DeprE¢ialion Other operating 8xpenditure16bl Support costs16c) 604,814 31.108 157,722 226 813 563,437 45,417 t38, 7T1 6bl OTHER OPERATING EXPENDITURE 2022 2021 Transport iunning costs Insuran Telephone Staff re¢rLfilmenl Staff traÈning Uniform Training service Cosls Bad debts and discounts 111,957 41,592 1,669 373 149 1,048 819 115 83,4Q3 53,399 1,8Q2 20 147 Page 20
READIBUS IA COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 6cl SUPPORT COSTS 2022 2021 Staff costs Rent and rates Light and h&81 Repairs athd mainl&nanc& Printing, postage and stationery Softwa¥e and office expenses Subscriptions Equipment renl&l Miscellaneous Bank charges Motor and travel expenses Professional lees Governance costs staff G0Veman costs other 92,933 63,686 2,911 6,608 1.999 16.0SS 515 174 2.132 45 88,073 64,192 T,115 5, 146 1,945 17,565 611 254 1,831 769 127 25,525 9, T86 22.749 10.326 STAFF COSTS 2022 2021 Wages and 58larie8 Social security costs Pension costs 549,660 34,623 600.381 34,996 25919 No. No. The average number of employees during the year.. Full lim& Part time Casual lime 13 21 13 26 Durfng tt)e year none of the Trustees received any remuneration [2021.. £IVILI. None of the Trustees received reimbursed expenses {2021.' £NILJ and no expenses were waivèd in the year by Iruslees and senior management. No employee earned more than £60,000 per annum. The Iruslees Gonslder the board of trustees, the General Manager and the broader staff management team includSng team leaders and operations controllers as comprising the key management personnel of the charlly. The total number of benefits of the key management personnel of the charity were £204,852 {2021.. £213.200), During the curr8nt and prior year there were no redundancy payments made. Page21
READIBUS IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 TANGIBLE FIXED ASSETS Offl¢e equlpmant Flxtvr8s and flltlngs Bu$es Totsl ACCUMULATED COST: Al l Awil 2021 Addltions Disposals 981,529 153,318 111,2 1.226,137 22 Al 31 March 2022 882 627 153296 ACCUMULATED DEPRECIATION.. Al 1 April 2021 Charge lor Ihe year Disposals 929,504 30,233 150.838 875 111,290 1,191,632 31,108 Al 31 March 2022 880 835 15 111290 1 143838 NET BOOK VALUES: At 31 Mah 2022 Al 31 March 2021 All fixed assets are employ directly in furtherance of Ihe charity's objects. or in support thereof. INVESTMENTS 2022 2021 Unquoted investments The £2 investment represents the cost of the charity's investment in ReadiBus Enterprises Limited. t's wholly gwned dormanl subsidiary company. The registered Offi is Craddixk Road, Reading, Berkshire. RG2 OJT IRegistered number 032638781. 10. DEBTORS 2022 2021 Trade debtors Other debtors Pr&paymenls and accwed Income 31,536 16,345 32,649 24,332 Page 22
READIBUS IA COMPANY LIMITED BY GUARATrrrEEI NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 11. CREDITORS: Amounts falling due wilhln one year 2022 2021 Bank overdraft Trade creditors Other taxes and social security other creditors Accrtjals and deferred income 10,266 10,826 9,975 2,S09 4,254 5.894 10.870 3,001 12. DESIGNATED FUNDS l Apnl 2021 New deslgnatlon$ utlllsedl Ireleas8dl 31 March 2022 Bus Replacement Fund £ 640 000 £ 640 000 Bus Re lacement Fund It is the view of the Trustees that the value of Ihè bus replament fund should equate lo the approximate cost of eighl new buses in ordet lo malnlain the cuirent fleet size based on anticipated vehicle life. The intention is that each year new buse5 will be purchased from thls fund. Page 23
READIBUS IA COMPANY LIMITeD BY GUARAP4TEEI NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 13. RESTRICTED FUNDS 2022 l April 2021 31 March 2022 Income Expendlture Bus and associated 8qLtipmenl appeal and donations Positive Image campaign CCTV 6,000 665 25,000 25 31,000 255 14351 Total The bus and agsocialod equipment appeal and donations are Gontribulions for a new bus and associated equipment. The Positive Image Campalgn is 8 campaign launched in June 2016 to promote the positive portrayal ol people with restricted rllobllity via positiv8 images, represented by positive irnage8 displayed on OLFr buses The CCTV reslrÈcled fund is donations that have been made for the specific PLErpose of equipping and re-equlpping when needed - buses wth CCTV 2021 1 Apnl 2020 31 2021 Income Expendilur8 Bus and associal8d 8quipmenl appeal and donaliond Positive Image campaign CCTV I,ooo I, 100 5,000 6,000 665 (435) Total Page 24
READIBUS IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 14. ANALYSIS OF NET ASSETS Fund balances al 31 March 2022 are represented by:_ Unrestrlcted General Deslgnated Funds Funds Re5trfctsd Funds Total funds Tangible fixeLI asgets Investments Current assets Current liabilities 3,375 3,375 345,113 640,000 39,475 1,024.588 Fund balances al 31 March 2021 are represented by'.- Unr&stiYcled Gener&1 Designated Funds Funds R8slrKlgd Funds Tol&l funds Tgngible fixèd assets Iriveslmenls Currnnl assets Currenl liabilitS 34.505 34,505 182,622 S40,000 14,885 837,507 15. PENSION COSTS The company operates a defined contribution pension scheme. The assets ofthe scheme are hèld separale1yfrom those of the Charity in a separately administered fund. The pension cost represents contributions payable by the Gharily lo the furrfj and amounted lo £23,79012021.' £25,91gi- There were no amounts outslandlng al the y@8r end. 16. OPERATING LEASE COMMITMENTS At 31 March 2022 tha company had future minimum lease paymenls under non-cancèllable operating leases as follows',- Land and Buildlngs 2022 2021 Less than 1 year Between 2 and 5 years s9.0 59,360 Page 25
READIBUS IA COAIPAIIY LIMITED BY GUARAMTEEI NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 17. FINANCIALCOMMITMENTS Al 31 March 2022 the charity had £72,127 of financial commitrllenls (2021.. £NILI. 18. FINANCIAL INSTRUMENTS 2022 2021 Ba81¢ financial assets measured al amorlisad cost Basic financial liabilities measuied al amorlised cost Basic finanaal assets measured al fair value 975.427 36,030 794,881 29,224 Basic financial assets measured al arnortised cost are all cash in hand and debtors minus prepayments and VAT dtsbtor. Basic financial liabilities measured al amortised cost are all creditors minus other taxes and social secufily and deferrèd income. Basic financial ass8ls rneasur8d al fair value are inves1rn6nls. The entity's income. expanse. gains and losses In respect of financial Instruments are summarised below.. 2022 2021 Total Interest income for basic financial assets 19. RELATED PARTY TRANSACTIONS Mr R Williams, a Trustee of ReadiBus is also a CEO of another company. Durlng the year ptirchases were made from the company lolalling £2,13212021.' £NILI. There were no outstanding amounts al the year end. Page 26
READIBUS IA COMPANY LIMITED BY GUAFIANTEEI NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 20. COMPARATIVE SOFA Unmstrftcted Funds Reslricled Funds Total 2021 Income and ondowmonts from.. Donations andlggacies DonalnS Biid l&gacies Incomo from charitable actNil$ 8us fare and conlraGI work income Grarpls receivable forbus seThlces othsr trading activities Training seNiGe fee income Incom& Irom inv8slmenfr Other income Govemmenl Gthnt- CJRS 13.316 5,000 18,316 873. 731 93,878 873. T31 93.878 400 210 20,427 227 603 400 210 20,427 227 603 TOTAL INCOME Expenditure on.. Expenditure on charitable 8clivi1$ Provision ofbus services 981868 435 982 303 TOTAL EXPENDITURE ExGeplion8lp8nslon credll 213,000 213,000 Nel Income/{expendilure) 460, 697 4,565 465,262 NET MOVEMENT IN FUNDS 460,697 4,565 465.262 Funds al l Apnl 2020 356 338 FUNDSA T31 MARCH 2021 Page 27