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← Liverpool Community Transport Limited

2025-03-31-accounts

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 2025

LIVERPOOL COMMUNITY TRANSPORT LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Council 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
Liverpool
L2 9TL
Bankers National Westminster Bank plc
City Office
2-8 Church Street
Liverpool
L1 3BG

LIVERPOOL COMMUNITY TRANSPORT LIMITED

CONTENTS

Page
Council's report 1 - 4
Independent examiner's report 5
Statement of financial activities 6
Balance sheet 7
Statement of cash flows 8
Notes to the financial statements 9 - 19

LIVERPOOL COMMUNITY TRANSPORT LIMITED

COUNCIL'S REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025

The Council of Management present their annual report and financial statements for the year ended 31 March 2025.

The financial statements have been prepared in accordance with the accounting policies set 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 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)".

Objectives and activities

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 to access mainstream transport 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 satisfied that the information provided in the report and accounts meets the public benefit reporting requirements.

Achievements and performance

Significant activities and achievements against objectives

Liverpool Community Transport Ltd has continued to make steady and meaningful progress throughout this financial year. The successful relocation to our new premises marks a significant milestone in our ongoing development and stability. While our MOT testing station has not yet been reinstated, this remains an active goal for the future, and we are confident this service will be restored when the time is right.

Our core transport operations have remained consistent and resilient.

Our maintenance and repair services remain an integral part of our operation, underpinning our mission to deliver safe, reliable, accessible, and affordable transport across the city. This service continues to strengthen our ties with local communities and reinforces our reputation for quality and dependability.

We are proud to continue our long-standing partnership with Liverpool City Council, under which we currently hold 25 home-to-school transport contracts. These services are vital in supporting families and ensuring that children have consistent, safe transport to and from school.

The Management Committee believes we are well positioned to build on this success and expand our contracted work with Liverpool City Council in the coming school year.

In alignment with our Development Plan, we remain committed to the modernisation of our vehicle fleet to maintain reliability and efficiency of our transport provision.

Staffing levels have remained consistent, ensuring operational stability and continuity of services.

LIVERPOOL COMMUNITY TRANSPORT LIMITED

COUNCIL'S REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Liverpool City Council’s Licensing Department continues to make extensive use of our garage and training facilities, hosting:

We are pleased to confirm that the Licensing team relocated with us to our new premises, allowing our successful partnership to continue seamlessly.

Liverpool Community Transport Ltd remains deeply committed to social inclusion and community development. Our long-term volunteer placement programme continues to be a success, providing valuable workplace experience in a safe, supportive, and friendly environment.

Our current volunteer has become a valued member of the team, contributing meaningfully to day-to-day operations. The Management Committee recognises the mutual benefit of these placements, both to the individual and to the organisation, and we remain dedicated to maintaining and expanding this initiative.

Fundraising practices

The charity did not undertake any public fundraising activities during the year and did not engage any professional fundraisers or commercial participators.

Financial 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 £173,197 (2024 £6,186). At the year end the charity had net assets of £382,197 (2024 : £209,000). There were no restricted funds at the period end.

Reserves policy

It is the policy of the charitable company that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Council of Management considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charitable company’s current activities while consideration is given to ways in which additional funds may be raised. The trustees recognise that the level of free reserves need to be increased and are reviewing options to improve the position.

Major risks

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:

LIVERPOOL COMMUNITY TRANSPORT LIMITED

COUNCIL'S REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Plans for future periods

The Management Committee of Liverpool Community Transport Ltd remains focused on ensuring the ongoing sustainability and growth of our services in the year ahead. As community transport continues to serve as a lifeline for many groups, schools, and organisations across the city, we recognise that maintaining our subsidised transport provision is of the utmost importance, particularly during these uncertain economic times.

A key element of our future strategy is the reinstatement and development of our MOT testing bay, which remains a fundamental part of our long-term operational plan. The committee views this initiative as integral to our mission of challenging social and economic exclusion, while also providing a sustainable income stream to support our wider community transport objectives.

In addition, we aim to expand the reach of our maintenance and repair service, which has long been an essential and valued part of our operations. By broadening this provision, we can offer enhanced support to community groups, schools, and organisations throughout the city, ensuring continued access to safe, reliable, and affordable transport solutions.

To strengthen our visibility and engagement, we will also focus on increasing awareness of our services across Liverpool. Through targeted marketing and the development of new publicity materials, we plan to engage with non-members, existing members, and the wider public, with the goal of expanding our customer base and reinforcing our community presence.

Another key objective for the forthcoming year is to increase the number of Special Educational Needs (SEN) school transport contracts. Building upon our well-established relationship with Liverpool City Council, we will actively pursue opportunities to secure additional contracts, both within the city and in neighbouring boroughs, where our experience and expertise can deliver real impact.

As we look ahead, the Management Committee remains optimistic about the continued growth and success of Liverpool Community Transport Ltd. We extend our sincere gratitude to our Operational Transport Manager, staff, and volunteers for their ongoing dedication, professionalism, and commitment. Their hard work and loyalty are vital to the organisation’s continued progress and achievements.

Structure, governance and management

The charity is a company limited by guarantee, the charitable company's objects are governed 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 (Resigned 19 November 2024) Mr R Curd

Recruitment and appointment of trustees

The Council endeavours to recruit new trustees to ensure the board has the range of skills and experience necessary to comply with its collective responsibility. Trustees receive ongoing training during their tenure 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.

Organisational structure

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 these shall only retain the office if re-appointed at the next Annual 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.

LIVERPOOL COMMUNITY TRANSPORT LIMITED

COUNCIL'S REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Remuneration policy

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 and Articles of Association, the charitable company has the power to make investments which the Council see fit.

Small company provisions

This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

The Council's report was approved by the Board of Council Of Management.

Mole Mr M Hughes Ua

Trustee

17 December 2025

LIVERPOOL COMMUNITY TRANSPORT LIMITED

INDEPENDENT EXAMINER'S REPORT

TO THE COUNCIL OF MANAGEMENT OF LIVERPOOL COMMUNITY TRANSPORT LIMITED

I report to the Council of Management on my examination of the financial statements of Liverpool Community Transport Limited (the charitable company) for the year ended 31 March 2025.

This report is made solely to the charity’s Council of Management, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity’s council of management those matters I am required to state to them in this report and for no other purpose. To the fullest extent 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 formed.

Responsibilities and basis of report

As the Council of Management of the charitable company (and also its directors for the purposes of company law), 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 examination of the 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 confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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 that in any material respect:

I have no concerns and have come across no other 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.

Jean Ellis BA FCA CTA

DSG Castle Chambers 43 Castle Street Liverpool L2 9TL

Dated: 17 December 2025

LIVERPOOL COMMUNITY TRANSPORT LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025

**Unrestricted ** Unrestricted
funds funds
2025 2024
Notes £ £
Income and endowments from:
Donations and legacies 3 50,000 -
Charitable activities 4 928,520 747,183
Investments 5 505 462
Other income 6 13,546 -
Total income 992,571 747,645
Expenditure on:
Charitable activities 7 819,374 741,459
Total expenditure 819,374 741,459
Net income for the year/
Net movement in funds 173,197 6,186
Fund balances at 1 April 2024 209,000 202,814
Fund balances at 31 March 2025 382,197 209,000

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

LIVERPOOL COMMUNITY TRANSPORT LIMITED

BALANCE SHEET

AS AT 31 MARCH 2025

2025 2024
Notes £ £ £ £
Fixed assets
Tangible assets 13 55,665 18,995
Current assets
Stocks 14 - 6,350
Debtors 15 175,228 142,812
Cash at bank and in hand 251,671 140,708
426,899 289,870
Creditors: amounts falling due within 16
one year 60,367 67,865
Net current assets 366,532 222,005
Total assets less current liabilities 422,197 241,000
Provisions for liabilities 17 (40,000) (32,000)
Net assets 382,197 209,000
The funds of the charitable company
Unrestricted funds 382,197 209,000
382,197 209,000

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 2025.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the Council of Management on 17 December 2025

Mr M Hughes MoleUa

Trustee

Company registration number 01766436 (England and Wales)

LIVERPOOL COMMUNITY TRANSPORT LIMITED

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025

2025 2024
Notes £ £ £ £
Cash flows from operating activities
Cash generated from/(absorbed by) 21
operations 151,426 (2,218)
Investing activities
Purchase of tangible fixed assets (54,630) (8,763)
Proceeds from disposal of tangible fixed
assets 13,662 -
Investment income received 505 462
Net cash used in investing activities (40,463) (8,301)
Net cash generated from financing activities - -
Net increase/(decrease) in cash and cash
equivalents 110,963 (10,519)
Cash and cash equivalents at beginning of year 140,708 151,227
Cash and cash equivalents at end of year 251,671 140,708

LIVERPOOL COMMUNITY TRANSPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

Charity information

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 Basis of preparation

The financial statements 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 charitable company is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, 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 Going concern

At the time of approving the financial statements, the Council of Management have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. Thus the Council of Management continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Council of Management in furtherance of their charitable objectives unless the funds have been designated for other purposes.

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 the charitable company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it 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 if the charitable 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 credited to restricted funds when receivable and transferred to unrestricted funds when the asset is purchased. Depreciation on the fixed assets purchased with such grants is charged against 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.

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course 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 2025

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is accounted for on an accruals basis.

Charitable expenditure comprises direct expenditure including direct staff costs attributable to the charitable company's activities. Where costs cannot be directly attributed, they have been allocated to activities on a basis consistent with the use of resources as detailed below.

Governance costs include those costs incurred in the governance of the charitable company's assets and are associated with constitutional and statutory requirements.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Tangible fixed assets are stated 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 over the term of the lease Plant and machinery 25% on cost Fixtures, fittings & equipment 25% on cost Motor vehicles 25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charitable company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated 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 that 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 Financial instruments

The charitable company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charitable company's balance sheet when the charitable company becomes party 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 settle the liability simultaneously.

LIVERPOOL COMMUNITY TRANSPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include 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 constitutes a financing 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 one year are not amortised.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.

If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the assets original effective interest rate. The impairment loss is recognised in net income/(expenditure) for the year.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in net income/(expenditure) for the year.

Derecognition 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 charitable 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 party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities

Basic financial liabilities are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods 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 derecognised when the charitable company’s contractual obligations expire or are discharged or cancelled.

LIVERPOOL COMMUNITY TRANSPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

1.11 Provisions

Provisions are recognised when the charitable company has a legal or constructive present obligation as a result of a past event, it is probable that the charitable company will be required 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 at the reporting end date, taking 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 at present value the unwinding of the discount is recognised as a finance cost in net income/(expenditure) in the period it arises.

1.12 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charitable company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting 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 liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying 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.

3 Income from donations and legacies

Unrestricted Unrestricted Unrestricted Unrestricted
funds funds
2025 2024
£ £
Donations and gifts 50,000 -
Donations and gifts
Donations 40,000 -
Gift aid 10,000 -
50,000 -

LIVERPOOL COMMUNITY TRANSPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

4 Income from charitable activities

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Income from charitable activities 19,516 36,400
Services provided under contract 909,004 710,783
928,520 747,183

5 Income from investments

Unrestricted Unrestricted Unrestricted Unrestricted
funds funds
2025 2024
£ £
Interest receivable 505 462
Other income
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Net gain on disposal of tangible fixed assets 13,546 -

6 Other income

LIVERPOOL COMMUNITY TRANSPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

7 Charitable activities

2025 2024
£ £
Staff costs 448,130 424,705
Depreciation and impairment 17,844 19,100
Vehicle costs 109,364 117,296
Rent 57,552 32,077
Rates and water usage 7,695 7,671
Heat and light 10,020 14,555
Telephone 5,127 6,128
Repairs 57,309 6,776
Sundry 20,140 27,767
Premises insurance 1,963 2,000
Vehicle insurance 62,570 67,695
Bank charges 1,119 1,153
Legal and professional 7,212 3,221
Computer running costs 4,660 3,490
810,705 733,634
Share of governance costs (see note 8) 8,669 7,825
819,374 741,459
Support costs allocated to activities
2025 2024
£ £
Governance costs 8,669 7,825
Analysed between:
Charitable activities 8,669 7,825
2025 2024
Governance costs comprise: £ £
Independent Examination fees 3,000 3,000
Accountancy 5,669 4,825
8,669 7,825

8 Support costs allocated to activities

LIVERPOOL COMMUNITY TRANSPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

9 Net movement in funds 2025 2024
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements 3,000 3,000
Depreciation of owned tangible fixed assets 17,844 19,100
Profit on disposal of tangible fixed assets (13,546) -

10 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 (2024: none were reimbursed).

11 Employees

The average monthly number of employees during the year was:

The average monthly number of employees during the year was:
2025 2024
Number Number
Direct charitable 35 40
Support 6 2
Total 41 42
Employment costs 2025 2024
£ £
Wages and salaries 426,833 406,642
Social security costs 16,076 13,008
Other pension costs 5,221 5,055
448,130 424,705
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel
The remuneration of key management personnel is as follows.
2025 2024
£ £
Aggregate compensation 43,526 43,526

12 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

LIVERPOOL COMMUNITY TRANSPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

13 Tangible fixed assets
Leasehold Plant and Fixtures, Motor Total
improvements machinery fittings & vehicles
equipment
£ £ £ £ £
Cost
At 1 April 2024 16,852 58,433 55,141 538,350 668,776
Additions 47,538 1,172 1,920 4,000 54,630
Disposals (16,852) - - (64,374) (81,226)
At 31 March 2025 47,538 59,605 57,061 477,976 642,180
Depreciation and impairment
At 1 April 2024 16,837 57,035 47,258 528,651 649,781
Depreciation charged in the year 5,297 515 3,555 8,477 17,844
Eliminated in respect of disposals (16,852) - - (64,258) (81,110)
At 31 March 2025 5,282 57,550 50,813 472,870 586,515
Carrying amount
At 31 March 2025 42,256 2,055 6,248 5,106 55,665
At 31 March 2024 15 1,398 7,883 9,699 18,995
14 Stocks
2025 2024
£ £
Finished goods and goods for resale - 6,350
15 Debtors
2025 2024
Amounts falling due within one year: £ £
Trade debtors 116,580 87,625
Other debtors 22,026 7,041
Prepayments and accrued income 36,622 48,146
175,228 142,812

LIVERPOOL COMMUNITY TRANSPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

16 Creditors: amounts falling due within one year

2025 2024
£ £
Other taxation and social security 6,754 7,217
Trade creditors 15,070 20,373
Other creditors 1,967 3,236
Accruals and deferred income 36,576 37,039
60,367 67,865
17 Provisions for liabilities 2025 2024
£ £
Dilapidations Grundy Street - 32,000
Dilapidations Townsend Street 40,000 -
40,000 32,000
Movements on provisions:
Dilapidations
Dilapidations		 Total
Grundy Street Townsend
Street
£ £ £
At 1 April 2024 32,000 - 32,000
Additional provisions in the year - 40,000 40,000
Utilisation of provision (32,000) - (32,000)
At 31 March 2025 - 40,000 40,000

The charity has recognised a provision in respect of its obligations under the terms of its lease for the new premises at Townsend Street. The provision represents the trustees’ best estimate of the costs to restore the property to its original condition at the end of the lease term.

At the year end, the provision amounted to £40,000 (2024: £nil). This estimate is based on management’s assessment of the lease terms and expected costs. Actual costs may differ from this estimate.

The previous dilapidations provision of £32,000 relating to the former premises at Grundy Street was released during the year as the lease ended and no further liability exists. The provision was utilised to cover the costs of dilapidations required under the lease.

18 Retirement benefit schemes
2025 2024
Defined contribution schemes £ £
Charge to profit or loss in respect of defined contribution schemes 5,221 5,055

LIVERPOOL COMMUNITY TRANSPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

18 Retirement benefit schemes

(Continued)

The charitable company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charitable company in an independently administered fund.

19 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions 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 At 1 April
Incoming
Incoming
Resources
Resources
Transfers
Transfers		 At 31 March At 31 March
2024 resources expended 2025
£ £ £ £ £
Tangible fixed asset fund 18,995 - - 36,670 55,665
General funds 190,005 992,571 (819,374) (36,670) 326,532
209,000 992,571 (819,374) - 382,197
Previous year: At 1 April
Incoming
Resources
Transfers		 At 31 March
2023 resources expended 2024
£ £ £ £ £
Tangible fixed asset fund 29,332 - - (10,337) 18,995
General funds 173,482 747,645 (741,459) 10,337 190,005
202,814 747,645 (741,459) - 209,000

The tangible fixed asset fund reflects the value of the tangible fixed assets used operationally by the charity.

20 Related party transactions

Other than remuneration of key management as disclosed in note 11, there were no other disclosable related party transactions during the year (2024 - none).

LIVERPOOL COMMUNITY TRANSPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

21 Cash generated from/(absorbed by) operations 2025 2024
£ £
Surplus for the year 173,197 6,186
Adjustments for:
Investment income recognised in statement of financial activities (505) (462)
Gain on disposal of tangible fixed assets (13,546) -
Depreciation and impairment of tangible fixed assets 17,844 19,100
Movements in working capital:
Decrease in stocks 6,350 3,000
(Increase) in debtors (32,416) (40,334)
(Decrease)/increase in creditors (7,498) 10,292
(Decrease) in provisions 8,000 -
Cash generated from/(absorbed by) operations 151,426 (2,218)