Charity registration number 515736 (England and Wales} Company registration number 01766436 LIVERPOOL COMMUNITY TRANSPORT LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
LIVERPOOL COMMUNITY TRANSPORT LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Councll Of Management Mr M Hughes Mr R Curd Charity number (England and Wales) 515736 Company number 01766436 Registered office 27 Townsend Street Liverpool L5 9XY Independent examiner DSG Castle Chambers 43 Castle Street Livefpool L2 9TL Bankers National Westminst8r Bank plc City Office 2-8 Church Street Liverpool L1 3BG
LIVERPOOL COMMUNITY TRANSPORT LIMITED CONTENTS Page Council's report Independent examinerfs report Statement of financial activities Balance sheet Statement of cash flows Notes to the financial statements 8-16
LIVERPOOL COMMUNITY TRANSPORT LIMITED COUNCIL'S REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The Council of Management present their annual report and financial statemenls for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies s8t out in note 1 to the financial statements and comply with the charitable company's Memorandum and Articles of Association, the Companies Act 2006 and 'Accounting and Reporting by Charities: Statement of Recommended Practice apFJicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).. Objectives and actlvltles The charitable company's principal activities continued to be the provision of subsidised transport and the repair and maintenance of vehicles owned by community groups who would not be able lo access mainstream trans¢ because of the cost involved. Public benefit The Council of Management have paid due regard to guidance issued by the Charity Commission in deciding what activities the charitable company should undertake. The Trustees are satisfed that the information provided in the report and accounts meets the public benefit reporting requirements. Achievements and performance Liverpool Community Transport Limited has worked tirelessly to reinstate our Community Transport provision since the Covid-19 pandemic and continued to make steady progress throughout this financial year. The total number of trips taken by community groups. organisations & schools has held steady at 12,500 and through the furtherance and development of assistan¢e to Liverpool SEN schools and our already established MOT testing station we are committed to continue subsidising community transport at the same level as in previous years. In order to be successful in this. our aim is to continue building upon current MOTS, maintenance and repair work which is now back to normal levels. Throughout this lime our company values and objectives have remained the same wilh regards to community transport and the services we provide. Our wellostablished MOT, maintenance & repair services continue to play a key role in our provision and has reinforced the assistance we provide lo local communities. ensuring they have access to a safe, reliable. accessible & affordable transport provision c11d8. During this financial year we have continued our conlracted work for Liverpool City Council where we currently hold 30 home to school transport Contracts. We have been given the opportunity lo expand into a neighbouring borough and were successful in the SEN tender process for Sefton Metropolitan Borough Council, an additional 2 contra¢tS were awarded to the organisation this is in line with our ongoing plan to expand in this area. The managemenl committee feel we are in a strong position to further advance in our contracted work with Liverpool City Council at the start of the next schr)ol year. As in previous years we have continued to work in line with the organisation's development plan which outlines our long-temi aim to modemise our fleet of vehicles. With this in mind. we will continue to purchase additional and replacement vehides when required- our current fleet Gontsins 37 vehides in total. Our staffing levels are also at an all-time high with 5 full-time staff and 37 part-time stsff members. Liverpool City Council liGen¢ing have continued to utilise our garage and training facilities in order to carry out various personal licence courses. laxi compliance inspections. licencing training programs and taxi enforc8m8nl operations in conjunction with Merseyside Police and neighbouring Councils. As in previous years we have continued working with our lonterni volunteer placement with an aim to promote social inclusion in a safe and friendly workplace. During his time with us he has integrated well and is a valued member of the team Contributing significantly to the company's day to day operations. The management committee feel our past and current volunteer work placements have been a great success with the individuals and ourselves benefitting from the scheme.
LIVERPOOL COMMUNITYTRANSPORT LIMITED COUNCIL'S REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 FlnanGial review The results for the year and the charity's financial position at the end of the year are shown in the attached financial statements. The surplus for the year was £7.186 {2023 £61,712). At the year end the charity had net assets of£210.000 (2023 . £202.814). There were no restricted funds at the period end. Reserves policy It is the policy of Ihe charitable company that unrestricted funds vthich have not been designated for a specific use should be maintained at a level equivalent to beleen three and six month's expenditu. The Council of Management Gonsiders that reserves at this level will ensure that, in the event of a significant drcp in funding. they will be able to continue the charitsble company's current activitses while consideration is given to ways in which additional funds may be raised. The trustees re(wnise that the level of free reserves need to be increased and are reviewing options to improve the position. Principal risks and uncertainties The Council have assessed the major risks to which the charitable company is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. The principal risks are considered to be: Loss of SEN school contracts which are subject to ular tender processes Fluctuations in fuel prices Competition from altemative transport providers Plans for future periods As the continuance of community transport is essential for many groups. schools and organisations across Ihe city, the management committee consider it a priority to maintain the subsidy of community transport as a whole during these uncertain economic times. This Gan be achieved through the furthefance and development of our already established MOT testing bay which continues to be a fundamental plan for the future. The management committee consider this to be integral in the organisation's work in challenging exdusion in today's economic dimat8. We aim to build upon further support that is also available to groups in temis of our maintenance and repair service. The broadening of this long standing, essential part of our provision would grealy benefit numerous groups, schools & organisations citywide. We plan to continue to market the services we provide across the city through various publicity material. tsrgeting non-members. current members and members of the public with the aim of expanding our customer base. An additional aim for the future is focusing on increasing the number of SEN school contracts over the forthcoming year. With our City Council school contracts now well eslablished, we will endeavour to secure additional contracts with the City Council and in neighbouring boroughs should thè opportunity arise. The management committee look forward to another productive year and would like to thank the Operational Transport Manager, staff and volunteers for working hard on behalf of the organisation. Their commrtment and dedication to Liverpool Community Transport has not gone unnoticed. Structuro. govèrnance and management The charity is a company limited by guarantee, the charitable companvs objects arè govemed by the Memorandum of Association adopted on 1 November 1983. The Council of Management, who are also the directors for the purpose of company law, and who served during the year were: Mr M Hughes Mr P Dodd Mr R Curd (Resigned 19 November 2024)
LIVERPOOL COMMUNITY TRANSPORT LIMITED COUNCIL'S REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The Council endevours lo recruit new trustees to ensure the board has the range of skills and experience necessary to Comply with its wllective responsibility. Trustees re1ve ongoing training during their lenure as required. None of the Council of Management has any beneficial interest in the company. All of the Council of Management are members of the company and guarantee to contribute £1 in the event of a winding up. The charitable company is controlled by the members of the Council of Management. The number of members must not be more than 15. The members of the Council are appointed at the Annual General Meeting. The Council may appoint additional members to the Council during the year but Ihese shall only retain the ofFice if re-appointed at the nextAnnual General Meeting. The Council delegates the day to day running of the charitable company to the General Manager, Mr T Crofton. All key operational decisions are made with the approval of the charity Trustees. The Council has responsibility for setting the pay and remuneration of the charity's key personnel and this is done on an annual basis. including a formal cost of living review. Salaries are benchmarked with other similar organisations. Under the Memorandum 8nd Artides of Aswiation. Ihe charitsble Company has the power to make investments which the Council see fit. Small company provisions This report has been prepared in accordance wth the special provisions relating to small companies within Part 15 of the Companies Act 2006. The Council's pOrt was approved by the Board of Council Of Management. Mr M Hughes Trustee 20 January 2025
LIVERPOOL COMMUNITY TRANSPORT LIMITED INDEPENDENT EXAMINER'S REPORT TO THE COUNCIL OF MANAGEMENT OF UVERPOOL COMMUNITY TRANSPORT LIMITED I report to the Council of Management on my examination of the financial statements of Llverpool Community Transport Limited (the charitable company) for the year ended 31 March 2024. This report is made solely to the chartty's Council of Management, as a body. in accordance with *ction 145 of the Charities Act 2011. My work has been undertaken so that I might state lo th8 charity's council of management those matters l am required to state to them in this report and for no other purpose. To the fullest exteni permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Council of Management as a body, for my work. for this report, or for the opinions I have fomied. Responslbilitles and basls of report As the Council of Management of the charitable company (and also its directors for the purposes of company lawl, you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the financial statements of the charitable company are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examinalion of th& charitable company's financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5){b) of the Charities Act 2011. Independent examiner's statement Since the charitable company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confimi that l am qualified to undertake the examination because l am a member of the Institule of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no rnatters have come to my attention in connection with the examination giving me Cause to believe that in any material respect: accounting records wèr& not kept in SpeCt of th8 charitable company as required by section 386 d the Companies Act 2006. the financial statements do nol accord with those records. or the financial statements do not COTfbPty with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a twe and fair view, which is a matter considered as part of an independent examination- or the finanual statements have not been prepared in accordance with the methods and principles of the Statement of Recommended practi for accounting and reporting by charities applicable to charities preparing their financial statements in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in this report in order lo enable a proper urKSerstanding of the financial statements to be reached. Jean Ellis BA FCA CTA DSG Castle Chambers 43 Castle Street Liverpool L2 9TL Dated: 20 January 2025
LIVERPOOL COMMUNITY TRANSPORT LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOMEAND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestrlcted Unrestricled funds funds 2024 2023 Notes Charitable activities Investments 747,183 462 815,884 160 Total income 747,645 816,044 Charitable activities 741,459 754,332 Total expendlture 741.459 754,332 Net income for the yearl Net mov8ment in funds 6,186 61,712 Fund balances at 1 April 2023 202,814 141.102 Fund balances at 31 March 2024 209,000 202.814 The ststement of financial activities also complies with the requirements for an income and expenditure account under the CompaniesAct 2006.
LIVERPOOL COMMUNITY TRANSPORT LIMITED BALANCE SHEET ASAT 31 MARCH 2024 2024 2023 Notes Flxed assets Tangible assets 11 18,995 29,332 Current assets Stocks Debtors Cash at bank and in hand 12 13 6,350 142.812 140.708 9,350 102,478 151,227 289,870 263,055 Creditors: amounts falling due within one year 14 67.865 57,573 Net current assets 222.005 205,482 Total assets less current liabiliti•s 241.000 234,814 Provlslons for liabilities 15 (32,000) (32,000) Net assets 209,000 202,814 The funds of the charitable company Unrestricted funds 209,000 202,814 209.000 202,814 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respecl to accounting records and the preparation of finanaal statements. The members have not required the company to obtain an audit of its financial statemenls for the year in question in accordance with section 476. These financial statements have been prepared in accordance wilh the provisions applicable to companies subject to the small ¢ompanies 1rne. The financial statements were approved by the Council of Management on 20 January 2025 Mr M Hughes Trustsg Company registration number 01766436 (England and Wales)
LIVERPOOL COMMUNITY TRANSPORT LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from op•ratlng activities Cash (absorbed by)Igenerated from operations 19 (2.218) 47,008 Investlng activitles Purchase of tangible fixed assets Investment income received (8,763) 462 14.119) 160 Net cash used in investing activities (8.301) (3,959) Net cash generated from financlng activities Net {decrease)lincrease in cash and cash equlvalents 110,5191 43.049 Cash and cash equivalents at beginning of year 151.227 108,178 Cash and cash equivalents at end of year 140,708 151,227
LIVERPOOL COMMUNITY TRANSPORT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Charity inforniation Liverpool Community Transport Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 27 Townsend Street, Liverpool, L5 9XY. 1.1 AGcounting conventlon The financial slatements have been prepared in accordance with the charitable company's Memorandum and Articles of Association, the Companies Act 2006 and 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). The charitsble company is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in steding, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Golng concern At the time of approving the financial ststements, the Couneil of Management have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeablè future. Thus the Council of Management continue to adopt the going concem basis of accounting in preparing the financial statements. 1.3 Charltable funds Unrestricted funds are available for use at the discretion of the Council of Management in furtherance of their charitable objectives unless th8 funds have been designaied for other purFX)ses. Designated funds comprise funds which have been set aside at the discretion of the Council of Management for specific purposes. The purposes and uses of the designated funds are set out in the notes to the accounts. 1.4 Income Income is recognised when th& charitable company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably. and tt is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charitable company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise rf the charitsble Company has been notified of an impending distribution, the amount is known. and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. Capital grants are credlted to restricted funds when receivablo and transferred to unrestricted funds when the asset is purchased. Depreciation on the fixed assets purchased with such grants is charged againsl unrestricted funds. Grants of a revenue nature are credited to income in the period to which they relate. Grants received before the charity is entitled to them are treated as deferred income. Tumover is measUd at the fair value of the wnsideration received or receivable and represents amounts receivable for goods and services provided in the nomial cL)urse of business. net of discounts. VAT and other sales related taxes.
LIVERPOOL COMMUNITY TRANSPORT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng policies (Continued) 1.5 Expendlture Expenditure is accounted for on an accruals basis. Charitable expenditure comprises direct expenditure including direct stsff costs attributable to the charitable company's activities. Where costs cannot be d1ctlY attributed, they have been allocated to activitigs on a basis consistent with the use of resource5 as detailed below. G0Veman costs include those costs incurred in the govemance of the charitable companws assets and are associated with constitutional and statutory requirements. 1.6 Tanglble fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impainn8nt losses. Tangible fixed assets are ststed at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life. as follows= Leasehold improvements Plant and machinery Fixtures, fittings & equipment Motor vehicles over the term of the lease 250A on cost 250/0 on cost - 25Yo on cost The gain or loss arising on the disposal of an asset is detemiined as the difference betweèn the sale proceeds and the carrying value of the asset. and is recognised in the statement of financial activities. 1.7 Impaimient of fixed assets At each reporting end date, the charitable company reviews the Carrng amounts of its tangible assets to determine whether there is any indi¢alion that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is eslimated in order to determine the extent of the impairment loss (if any). 1.8 Stocks Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, those overheads Ihat have been incurred in bringing the stocks to their present location and condition. Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing. selling and distribution. 1.9 Cash and cash equivalents Cash and cash equivalents include cash in hand and deposits held at call with banks. 1.10 Flnanclal Instruments The charitsble Gompany has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are cogniSed in the charitable companls balance sheet when the charitable company becomes paty to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and setue the liability simultaneously.
LIVERPOOL COMMUNITY TRANSPORT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcies (Contlnued) Baslc flnanclal assèts Basic financial assets, which indude debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constllutes a fjnanong transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within on8 year ar8 not amortised. Impalmient of flnancial assets Financial assets are assessed for indicators of impaimient at each reporting date. Financial assets are impaired where there is objectNe evidence that. as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash fiovts have been affected. If an asset is impaired, the impaimient loss is the difference between the carying amount and the present value of the estimated cash flows discounted at the assets original effective interest rate. The impairmenl loss is recognised in net incomel(exp8ndiiure) for the yèar. If there is a decrease in the impairment loss arising from an event occurring after th& impairment was recognised, the impaimiant is reversed. The reversal is su¢h that the ojrrent carrying amount does not exceed what the carying amount would have been. had the impairment not previously been rer@ognised. The impaiment reversal is recognised in net incomel(expenditure) for the year. Derecognltion of financial assets Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the Gharitable company transfers the financial asset and substantially all the risks and rewards of ownership to another entity. or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another paty that is able to sell the asset in its entirety to an unrelated third paty. 80sic financial liabilities Basic financial liabilities are initially recognised at transaction price unless the arrangement cx)nstitutes a financing transaction, where the debt instrument is measured at the present value of the futurè payments discounted at a market rate of interest. Finanaai liabilities dassified as payable within one year are not amortised. Debt instruments are subsequentty carried at amortised cost. using the effective inter8St rate method. Trade creditors are obligations to pay for gwds or services that have been acquired in the ordinary Course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are der8cognis8d when the charitable company's contractual obligations expire or are discharged or cancelled. 10-
LIVERPOOL COMMUNITY TRANSPORT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng policles {Continued> 1.11 Provlslons Provisions are recognised when the charttable company has a legal or constructive present obligation as a result of a past event, it is probabl8 that the charitable company wi51 be r8quired to settle that obligation and a reliable estimate can be made of the amount of the obligation. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation al the reporting end date, tsking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured ai presenl value the unwinding of the discount is recognised as a finan cost in net incomel(expenditure) in the period it arises. 1.12 Employee beneflts The cost of any unused holiday entitlement is recognised in the period in which the employee's servicos are received. Termination benefits are recognised immediately as an expense when the charttable company is demonstrably committed to terminate the employment of an employee or to provide temiination benefits. 1.13 Retlrement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Crltlcal accountlng estimates and Judgements In the application of the charitable company's accounting policies, the Council of Management are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilits'es that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors Ihat are considered to be relevant. Actual results may differ from these estimates. The estimates and underfying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Income from ¢haritablè artivities Unrestri¢ted Unrestrlcted funds funds 2024 2023 Incom8 from charitable activtties Services provided under contract 36,400 710,783 34,920 780,964 747,183 815,884 11
LIVERPOOL COMMUNITY TRANSPORT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from inveslments Unrestricted Unrestricted funds funds 2024 2023 Interest receivable 462 160 Charltable activities 2024 2023 Staff costs Depreciation and impaim)ent Vehicle costs Rent Rates and water usage Heat and light Telephone Repairs Sundry Premises insurance Vehicle insurance Bank charges Legal and professional Computer running costs 424,705 19,100 117,296 32.077 7,671 14,555 6.128 6.776 27,767 2,000 67,695 1,153 3,221 3.490 419,174 19,048 150,035 29,000 8.586 16,891 5,947 3,562 24,860 2,000 59,091 1,346 2,801 4,071 733,634 746.412 Share of govemanc8 costs (see note 6) 7,825 7,920 741,459 754,332 Support ¢osts allocated to actlvltles 2024 2023 Govemance costs 7,825 7,920 Analysed between: Charitsble activities 7,825 7,920 12-
LIVERPOOL COMMUNITY TRANSPORT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support costs allocated to activities (Continued) 2024 2023 Governance costs comprise: Independent Examination fees Accountancy 3.000 4.825 3,000 4,920 7.825 7,920 Net movement In funds 2024 2023 The net movement in funds is stated after chargingl(crediting): Fees payable for the independent examination of the charity's financial statements Depreciation of owned tangible fixed assets 3,000 19,100 3,000 19,048 Council Of Management None of the Council of Management (or any persons connected with them) received any remuneration during the year, and none of them were reimbursed for travelling expenses (2023: none were reimbursed). Employees The average monthly number of employees during the year was.. 2024 Number 2023 Number Direct charitable Support 40 Total 42 46 Employment costs 2024 2023 Wages and salaries Social security costs Other pension costs 406,642 13,008 5.055 402,200 12,443 4.531 424,705 419,174 There were no employees whose annual remuneration was more than £60.000. 13-
LIVERPOOL COMMUNITY TRANSPORT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Employees (Contlnued) Remuneration of key management personnel The remunerab'on of key management personnel is as foll0v. 2024 2023 Aggregate compensation 43,526 43,740 10 Taxatlon The charity is exempt from taxation on ts activities because all its income is applied for charitable purposes. 11 Tangible fixed assets Leas8hold lrnprovements Plant and ma¢hlnery Flxtur¢$, ffttlngs & equlpment Motor vehlclgs Total Cost At 1 April 2023 Additions 16,852 55,251 3.182 49,560 5,581 538.350 660,013 8.763 At 31 March 2024 16.852 58,433 55.141 538,350 668,776 Depreclatlon and impaimient At 1 April 2023 Depreciation charged in the year 16.317 520 54,374 2,661 43.749 3,509 516,241 12,410 630,681 19,100 At 31 March 2024 16,837 57.035 47,258 528,651 649,781 Carrying amount At 31 March 2024 15 1.398 7.883 9,699 18,995 At 31 March 2023 535 877 5,811 22,109 29,332 12 Stocks 2024 2023 Finished goods and goods for resale 6,350 9,350 14-
LIVERPOOL COMMUNITY TRANSPORT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Debtors 2024 2023 Amounts falling due wlthin one year: Trade debtors Other debtors Prepayments and aG¢wed income 87,625 7,041 48,146 65,040 10,023 27,415 142,812 102,478 14 Creditors". amounts falllng due within one year 2024 2023 Other tsxation and social security Trade Creditors Other creditors Accruals and deferred income 7,217 20,373 3,236 37,039 5,138 13,080 2,096 37,259 67,865 57.573 15 Provisions for liabilities 2024 2023 Dilapidations 32,000 32,000 Movements on provisions: Dilapldations At 1 April 2023 and 31 March 2024 32,000 The balance represents a provision for dilapidations in respect of the leasehold propety occupied by the charitable company. 16 Retirement benefit schemes 2024 2023 Defined contribution schemes Charge to profit or loss in respect of defined contribution schemes 5,055 4,531 The charitable company operates a defined contribution pension scheme for all qualifying employees. The assets of Ihe scheme are held separately from those of the charitable company in an independently administered fund. 15-
LIVERPOOL COMMUNITY TRANSPORT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific condttions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At 1 April 2023 Incoming resources Resources expended Transfers At 31 March 2024 Tangible fixed asset fvnd General funds 29,332 173,482 (10.337) 10.337 18,995 190,005 747.645 1741,459) 202.814 747,645 1741,459) 209,000 Previous year: At 1 April 2022 Incoming resources Resources expended Transfers At 31 March 2023 Tangible fixed asset fund General funds 44.261 96.841 (14,929) 14.929 29,332 173,482 816,044 (754.332) 141,102 816,044 (754.332) 202,814 The tangible fixed asset fund reflects the value of the tangible fixed assets used operationally by the charity. 18 Related party transactlons Other than remuneration of key management as disdosed in note 9. there were no other disclosable related party transactions during the year (2023 - none). 19 Cash (absorbed byygenerated from operations 2024 2023 Surplus for the year 6,186 61,712 Adjustments for.. Investment income recognised in statem&nt of financial activities Deprecialion and impaim)ent of tangible fixed assets (462) 19,100 (160> 19.048 Movements In worklng capltal: Decrease in stocks (lncrease) in debtors Increasel(de¢r8ase) in Greditors 3.000 (40,334) 10,292 (9,286) (24,306) Cash {absorb•d byygeneratsd from operations (2,218) 47,008 16-