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2023-01-31-accounts

Registered number 01747475 Charity number 514382

SANDTOFT TRANSPORT CENTRE LIMITED (A company limited by guarantee)

UNAUDITED

TRUSTEE REPORT AND FINANCIAL STATEMENTS FOR THE FOR THE YEAR ENDED 31 JANUARY 2023

SANDTOFT TRANSPORT CENTRE LIMITED (A company limited by guarantee)

CONTENTS

Page
Reference and administration details of the 3
company, its Trustees and advisors
Trustees' Report 4
Independent examiner's report 9
Statement of financial activities 10
Balance sheet 12
Notes to the financial statements 13

SANDTOFT TRANSPORT CENTRE LIMITED (A company limited by guarantee)

REFERENCE AND ADMINISTRATION DETAILS OF THE COMPANY ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JANUARY 2023

Directors and Trustees
I H Wilson, Chairman
J Francis, Director of Finance
F Terry, Secretary (resigned 20 November 2022)
C E Allen
M A Boult
D G Chick
HE Cross
SP David
BW O'Connor (appointed 20 November 2022)
Company registered 01747475
number
Charity registered 514382
number
Registered office The Trolleybus Museum
Belton Road
Sandtoft
DONCASTER
DN8 5SX
Company secretary F Terry (resigned 20 November 2022)
H E Cross (appointed 20 November 2022)
Chief executive officer I H Wilson
Accountant David Procter
18 Redhill Grove
Chorley
Lancs
PR6 8TU

TRUSTEES' REPORT FOR THE YEAR ENDED 31 JANUARY 2023

SANDTOFT TRANSPORT CENTRE LIMITED (A company limited by guarantee)

The Trustees present their Report and Accounts for the year ended 31 January 2023. This is also the Directors Report required by the Companies Act 2006.

The Trustees confirm that the Annual Report and Financial Statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Accounting Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK (FRS102) ((effective 1 January 2015).

Objectives and activities

a Policies and objectives

The primary policy during the year was to ensure the long term survival of the museum in what were unprecendented circumstances.

The principal objective of the company throughout the year was the operation of a National Trolleybus Museum. Over the years the company has been involved in the restoration of many historic Trolleybuses and their display, along with related material, to the public at its museum at Sandtoft.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance "Public benefit: running a charity (PB2).

b Strategies for achieving objectives

Strategies during the year were focussed on ensuring the long term survival of the museum and its exhibits.

The Museum is accredited by the Arts Council and has a five year Forward Plan to cover the period 2019 to 2024. The Pandemic has had an impact on the delivery of the Plan and the Arts Council have revised their programme for reaccreditation.

c Activities undertaken to achieve objectives

Construction of the North Depot was completed. The building is to be named The David Croft Depot in recognition of a substantial bequest

Page 4

SANDTOFT TRANSPORT CENTRE LIMITED (A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 JANUARY 2023

d Main activities undertaken to further the company's purposes for public benefit.

Plans are being drawn up for a new telecommunications system which will be much more flexible than the current set-up. Analogue lines are being withdrawn at the end of 2023 and the new arrangements will allow for this and advance our telecommunications in addition to adding Wi-Fi in the Café, Shop and Reception with public access to enhance interpretation of the exhibits.

Work continued on the archives to further our objective to create a research facility.

Plans to enhance accessibility continue to be drawn up in consultation with several individuals and groups. It is expected that for the 2023 season we will be able to offer rides on a wheelchair accessible trolleybus.

In addition, Stagecoach have donated a low-floor accessible motorbus which is currently being refurbished. This will allow Isle tours for those who are unable to board a conventional bus.

Achievements and performance

a. Main achievements of the company

With the completion of the David Croft Depot 10 vehicles are now housed therein meaning that no vehicles are now stored outside.

Financial review

a Going concern

After making appropriate enquiries, the Trustees are of the view that the charity is a going concern and have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

b Reserves

Reserves are needed to bridge the gap between receiving income and spending and to cover unplanned emergency repairs and other expenditure. The Trustees consider that there are sufficient reserves as the year end, total reserves amounted to £997,502

Page 5

SANDTOFT TRANSPORT CENTRE LIMITED (A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 JANUARY 2023

Structure, governance and Management

a Constitution

Sandtoft Transport Centre Ltd is a charitable company limited by guarantee.

The company is constituted under a Memorandum of Association dated 22 August 1983 and is a registered charity number 514382.

b Methods of appointment or election of Trustees

The management of the company is the responsibility of the Trustees who are elected or co-opted under the terms of the Articles of Association.

c Organisational structure and decision-making policies

The management of the company is the responsibility of the Directors.

d Financial risk management

The Trustees have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the company, and are satisfied that systems are in place to mitigate exposure to the major risks.

Plans for future periods

Increasing the number of days we are open is a priority. Plans are being made for three full weeks of opening during 2023.

The Trolleybuses of the Humber, covering Hull, Grimsby and Cleethorpes was completed and is proving to be a popular attraction. A very generous donation has been received which will allow for a Trolleybuses of the Don exhibition featuring Doncaster, Mexborough and Swinton and Rotherham.

Fundraising opportunities for priority projects are being explored.

Page 6

SANDTOFT TRANSPORT CENTRE LIMITED (A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 JANUARY 2023

Statement of the Directors' and Trustees' Responsibilities

The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Companies Act 2006, the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in February 2016), (The SORP), .

In particular, the Companies Act 2006 and charity law require the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to :-

The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year.

Page 7

SANDTOFT TRANSPORT CENTRE LIMITED (A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 JANUARY 2023

The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with the Companies Act 2006 and comply with regulations made under the Charities Act. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are also responsible for the contents of the Trustees' report, and the statutory responsibility of the Independent Examiner in relation to the Trustees' report is limited to examining the report and ensuring that, on the face of the report, there are no material inconsistencies with the figures disclosed in the financial statements.

Method of preparation of accounts - Small company provisions

The financial statements have been prepared implementing the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in February 2016), (The SORP), and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016)

In preparing the report the Trustees have taken advantage of the small companies’ exemptions provided by section 415A of the Companies Act 2006.

Approved by the members of the board of Trustees on 30 September 2023 and signed on their behalf by:

………………………. H E Cross Secretary

Page 8

SANDTOFT TRANSPORT CENTRE LIMITED

(A company limited by guarantee)

Report of the Independent Examiner on the accounts

for the year ended 31 January 2023

I report to the charity trustees on my examination of the accounts for the year ended 31 January 2023

Respective responsibilities of the Trustees and the Independent Examiner and the basis of the report

As described in the directors report, you the charities trustees , who are also the Directors of the company for the purposes of company law, are responsible for the preparation of the financial statements in accordance with the Companies Act 2006, the Charities Act 2011 and all other applicable law and with United Kingdom Generally Accepted Accounting Practice, applicable to small entities, and for being satisfied that the financial statements give a true and fair view.

Having satisfied myself that the financial statements are not required to be audited under any legal provision, or otherwise, and are eligible for independent examination, it is my responsibility to:-

Independent Examiner's Statement, Report and Opinion

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006 and section 130 of the Charities Act 2011

the accounting records do not accord with those records

the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in section 396 of the Companies Act 2006 other than any requirement that the accounts give a rue and fair view which is not a matter considered as part of an independent examination

have not been prepared in accordance with the methods and principles set out in the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015 (the SORP)

I have no concerns and have come across no matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

David Procter - Independent Exanminer Member of the Chartered Association of Certified Accountants 18 Redhill Grove, Chorley, PR6 8TU

This report was signed on 30 September 2023

Page 9

SANDTOFT TRANSPORT CENTRE LIMITED (A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JANUARY 2023

Note
Income from:
Donations and Legacies
3
Charitable activities
4
Other trading activities
5
Investment income
6
Total income
Expenditure on:
Raising Funds
Cost of sales
Publicity
Museum opening costs
Charitable activities
Rent and Rates
Insurance
Power
Repairs and Renewals
Telephone
Printing, Postage and Staty
Motor Expenses
Accountancy Fees
Bank Charges
Depreciation
General Expenses
Total expenditure
Net Movement in funds
Total funds brought forward
Net movement in funds
Total funds carried forward		 Restricted
funds
2023
£
33,129
-
-
-
33,129
-
-
-
-
-
-
43,905
-
-
-
-
-
-
43,905
(10,776)
122,189
(10,776)
111,413		 Unrestricted
funds
2023
£
56,813
35,005
68,689
284
160,791
12,231
9,246
22,211
10,979
14,208
7,101
14,741
1,040
1,504
501
1,579
1,866
17,177
2,913
117,297
43,494
842,595
43,494
886,089		 Total funds
2023
£
89,942
35,005
68,689
284
193,920
12,231
9,246
22,211
10,979
14,208
7,101
58,646
1,040
1,504
501
1,579
1,866
17,177
2,913
161,202
32,719
964,784
32,719
997,502		 Total
funds
2022
£
110,005
48,807
44,292
49
203,152
-
5,445
29,725
11,073
6,178
5,542
121,386
605
-
1,014
4,182
784
10,166
-
196,100
7,052
964,122
7,052
971,174

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 13 to 18 form part of these financial statements.

Page 10

SANDTOFT TRANSPORT CENTRE LIMITED (A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31 JANUARY 2022 (PRIOR YEAR)

Note
Income from:
Donations and Legacies
Charitable activities
Other trading activities
Investment income
Total income
Expenditure on:
Raising Funds
Cost of sales
Publicity
Museum opening costs
Charitable activities
Rent and Rates
Insurance
Power
Repairs and Renewals
Telephone
Motor Expenses
Accountancy Fees
Bank Charges
Depreciation
Total expenditure
Net Movement in funds
Total funds brought forward
Net movement in funds
Total funds carried forward		 Restricted
funds
2022
£
34,958
-
-
-
34,958
-
-
-
-
-
-
57,525
-
-
-
-
-
57,525
(22,567)
144,756
(22,567)
122,189		 Unrestricted
funds
2022
£
75,047
48,807
44,292
49
168,194
6,391
5,445
29,725
11,073
6,178
5,542
63,861
605
1,014
4,182
784
10,166
144,965
23,229
819,366
23,229
842,595		 Total funds
2022
£
110,005
48,807
44,292
49
203,152
6,391
5,445
29,725
11,073
6,178
5,542
121,386
605
1,014
4,182
784
10,166
202,490
662
964,122
662
964,784

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 13 to 18 form part of these financial statements.

,

Page 11

SANDTOFT TRANSPORT CENTRE LIMITED (A company limited by guarantee) REGISTERED NUMBER 01747475

BALANCE SHEET AS AT 31 JANUARY 2023

Note
Fixed Assets
Tangible Assets
10
Current Assets
Stocks
11
Debtors
Cash at bank and in hand
Creditors: amounts falling due
within one year
13
Net current assets
Total assets less current liabilities
Total net assets
Charity funds
Restricted funds
14
Unrestricted funds
Total funds		 £
1,500
737
156,711
158,948
(18,630)		 2023
£
857,183
140,318
997,502
997,502
111,413
886,089
997,502		 £
1,500
-
313,461
314,961
(20,004)		 2022
£
669,827
294,957
964,784
964,784
122,189
842,595
964,784

The company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit for the year in accordance with section 476 of the Companies Act 2006.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees on 30 September 2023 and were signed on their behalf by

………………………………… J Francis Director of Finance

Page 12

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

SANDTOFT TRANSPORT CENTRE LIMITED (A company limited by guarantee)

1 General information

The company is incorporated under the Companies Act and is a registered charity number 514382. It was constituted under a Memorandum of Association dated 22 August 1983 and is governed by Articles of Association.

In the opinion of the directors the charity meets the definition of a public benefit entity under FRS 102

2 Accounting policies

The accounts have been prepared on the accruals basis, under the historical cost convention, and in accordance with the Financial Reporting Standard 102, and the Charities SORP Accounting and Reporting by Charities (effective 1 January 2015), and in accordance with all applicable law in England and Wales.

2.2 Income

All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of the income can be measured reliably.

2.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved undertaking in each activity.

Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of an assets use.

Expenditure on raising funds includes all expenditure incurred by the company to raise funds for its charitable purposes and includes costs of all fundraising activities, events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the company's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

2.4 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

Page 13

SANDTOFT TRANSPORT CENTRE LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

2.5 Tangible Fixed Assets and depreciation

Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the assets can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets over their estimated useful lives.

Depreciation is provided on the following basis

Plant and machinery 20% straight line

2.6 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks. Cost incudes all direct costs and an appropriate proportion of fixed and variable overheads.

2.7 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.8 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.

2.9 Financial instruments

The company only has financial assets and financial liabilities of a kind which qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and are subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Page 14

SANDTOFT TRANSPORT CENTRE LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

2.10 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each fund is set out in the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

3 Income from donations and legacies

Restricted
funds
Unrestricted
funds
2023
2023
£
£
Donations
33,129
56,813
Income from charitable activities
Museum operation
-
35,005
Income from other trading activities
Charity trading income
-
44,292
Cost of sales
-
6,391
-
37,901
Investment income
Bank interest
-
49
Expenditure on raising funds
5,445
Costs of raising
voluntary income		 Total
funds
2023
£
89,942
35,005
44,292
6,391
37,901
49
5,445		 Restricted
funds
2022
£
-
-
-
-
-
-		 Unrestricted
funds
2022
£
75,047
44,292
7
-
7
517
6,575		 Total
funds
2022
£
75,047
44,292
7
-
7
517
6,575

4 Income from charitable activities

5 Income from other trading activities

6 Investment income

7 Expenditure on raising funds

8 Independent Examiner's remuneration

Independent Examiner's remuneration
2022 2021
£ £
Fees payable to the company's independent examiner for the
independent examination of the company's annual accounts. 1,500 2,750
Fees payable to the company's independent examiner in
respect of taxation services not included above. - 300

Page 15

SANDTOFT TRANSPORT CENTRE LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

9 Trustees remuneration and expenses

During the year, no trustees or persons connected with them received any remuneration from the charity or any related entity.

During the year, no trustees or persons connected with them received any expenses from the charity or any related entity.

10 Tangible Fixed Assets

Cost or valuation
At 1 February 2022
Additions
Disposals
At 31 January 2023
Depreciation
At 1 February 2022
Charge for the year
At 31 January 2023
Net Book Value
At 31 January 2023
At 31 January 2022
11
Stocks
Finished Goods and Goods for resale
12
Creditors: amounts falling due within one year
Other debtors
13
Creditors: amounts falling due within one year
Bank overdrafts
Accruals and deferred income
Deferred income		 Freehold
property
£
582,618
195,138
-
777,756
-
-
-
777,756
582,618		 Plant and
machinery
£
240,785
9,395
-
250,180
153,576
17,177
170,753
79,427
87,209
2023
£
1,500
2023
£
737
737
2023
£
7,965
10,665
18,630		 Total
£
823,403
204,533
-
1,027,936
153,576
17,177
170,753
857,183
669,827
2022
£
1,500
2022
£
0
-
2022
£
20,004
-
20,004

Page 16

SANDTOFT TRANSPORT CENTRE LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

14 Statement of funds

Statement of funds - current year

Balance at
1 February
2022
£
Unrestricted funds
Reserves
842,593
Restricted Funds
Vehicle restricted fund
46,518
Development restricted fund
75,671
122,189
Total Funds
964,782
Statement of funds - prior year
Balance at
1 February
2021
£
Unrestricted funds
Reserves
819,366
Restricted Funds
Vehicle restricted fund
69,666
Development restricted fund
75,090
144,756
Total Funds
964,122		 Income
£
160,791
33,129
33,129
193,920
Income
£
168,193
34,377
581
34,958
203,151		 Expenditure
£
(117,297)
(43,905)
(43,905)
(161,202)
Expenditure
£
(144,966)
(57,525)
-
(57,525)
(202,491)		 Balance at
31 January
2023
£
886,087
35,742
75,671
111,413
997,501
Balance at
31 January
2022
£
842,593
46,518
75,671
122,189
964,782

Page 17

SANDTOFT TRANSPORT CENTRE LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

15 Analysis of net assets between funds

Analysis of net assets between funds - current period

Tangible fixed assets
Current assets
Creditors: amounts falling due
within one year
Total		 Restricted
funds
2023
£
-
111,413
-
111,413		 Unrestricted
funds
2023
£
857,183
47,535
(18,630)
886,088		 Total funds
2023
£
857,183
158,948
(18,630)
997,502

Analysis of net assets between funds - prior period

Analysis of net assets between funds - prior period
Tangible fixed assets
Current assets
Creditors: amounts falling due
within one year
Total		 Restricted
funds
2022
£
-
122,189
-
122,189		 Unrestricted
funds
2022
£
669,827
192,772
(20,004)
842,595		 Total funds
2022
£
669,827
314,961
(20,004)
964,784

Page 18