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 D1￿ctorS, 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 De￿mber 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 Offi￿r5{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 i￿lUde 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 ￿e￿1ve 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 refe￿ed 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 p￿vIOuS 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 Veh￿0$ ￿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 g￿n9 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 Be￿shi￿e 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'--..��_ 

Page 8 



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 I￿al 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 SP￿lfIed 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 fina￿la& 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 sèrVI￿S
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<br>**£**<br>**FIXED ASSETS**<br>Tangible assets<br>8<br>Investments<br>9<br>**CURRENT ASSETS**<br>Debtors<br>10<br>**93,834**<br>Cash at bank and in hand<br>**930,754**<br>**1,024,588**<br>**CREDITORS:**amounts falling due<br>within one year<br>11<br>**(46,003)**<br>**NET CURRENT ASSETS**<br>**NET ASSETS**<br>**FUNDS**<br>Unrestricted - General<br>- Designated<br>12<br>Restricted<br>13<br>**TOTAL FUNDS**<br>14<br>**2022**<br>£<br>£|**£**<br>**3,375**<br>**2**<br>**3,377**<br>**978,585**<br>**981 962**<br>**302,487**<br>**640,000**<br>**39,475**<br>**981 962**|_2021_<br>**£**<br>_34,505_<br>_2_<br>_34,507_<br>_97,263_<br>_740 244_<br>_837,507_<br>_(40,094)_<br>_797 413_<br>**£**<br>_831 920_<br>_177,035_<br>_640,000_<br>_14 885_<br>**£**_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 prOba￿Y 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 Ma￿h 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 repla￿ment 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 liabilit￿S
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
Donal￿nS 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
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