REGISTERED COMPANY NUMBER: 02059997 (England and Wales) REGISTERED CHARITY NUMBER: 518275 Report of the Tru8teos and Flnancial Statements for the Year Ended 31 March 2025 for VOLUNTARY EMERGENCY SERVICE TRANSPORT (V.E.S.T.) DHB Accountants Limited Chartered Accountants Statutory Auditors 110 Whitchurch Road Cardiff CF14 3LY 17)
VOLUNTARY EMERGENCY SERVICE TRANSPORT {V.E.S.T. Contents of the Flnancial Statements for the Year Ended 31 March 2025 Page Report of the Truste88 Slatement of Trustees. ResponslbSllties Independent Examlnorfs Report statement of Financlal Actlvltie8 Balance Sheet Not88 to the Flnanclal Statements 10 to 15 Detailed Statement of FinanGial Actlvltles 16 to 17
VOLUNTARY EMERGENCY SERVICE TRANSPORT (V.E.S.T.) (Registered number: 02059997) Report of the Trusteos for the Year Ended 31 March 2025 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. Th8 trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in.accordance with the Flnancial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102} (effective 1 January 2019). OBJECTIVES AND ACTIVITIES Objectives, Operatlons, Organisatlon and Funding. VEST is a company limited by guarantee without share capital and is a registered charity. It is governed by a Memorandum and Articles of Association that were last amended on 26 September 2013. VEST operates a fleet of specially adapted vehicles provlding a "door-to-doorf, transport service to people for whom the use of coriventional public transport presenls difficulties due to restricted mobility through Illness, age or disability. VEST serves the residents of Cardiff and Ihe Vale of Glamorgan, It operates three services.. Community Transport (CT), Di81-a-Bus and Ring & Ride (DR). CT is the purely charitable element of VEST, The seniice is operated on behalf of the Cardiff and Vale Local Authorities on a net Cost recovery basis. Community Transport currently owns and operates five (3 to 14 seat) minibuses providing a scheduled transport service to Day Centres, clubs and charitable organisations such as the Stroke Association, Age Concem, the Parkinson's Disease Society and Sight Life Wales. Around these scheduled bool<ings, and subject to the availability of vehicles and drivers, it also provides a transport facility to registered groups and individuals wishing to travel within 2.5 hours of Cardiff. DR provides two services. Dial-a-Bus operates one large (10 seat) minibus. It is a bookable, sch&uled 'door to 8hoppin9 centre and retum, shopping service that runs each day except weekends. It serves fwe areas of Cardiff on weekdays and the Vale of Glamorgan on one day a week. Ring & Ride provides a bookable 'door to door, bus service within the Cily of Cardiff OFerating from 9:30 to 16.00, Monday to Thursday, 09.30 to 15.30 Friday. It has a fleet of six smaller minibuses. The DR fleet of seven vehicles is owned and capitalised by the Lal Authorities. The operation and finances of VEST are the responsibility of the Directors, who are also Trustees under the Charities Act and hold their posts in an honorary capacity. In shaping the objectives for the year and planning its activities, the Board has considered the Charity Commissions guidance on public benefit. The Charity gives careful Gonsideration to ensuring its activities are accessible to all ellgible users from all aspects of the Community. Overall day-to-day operation of VEST is the responsibility of a salaried full-time Operations Manager paid from cfs funds, to which the Cardiff and Vale local authorities make a 15010 gross salary contribution. Community Trdnsport is dependent upon trained volunteer drivers to operate its services but also etnploys a part-time admlnistrator, paid for from CT funds. At year-end, two administrative staff and eight full-time drivers were employed on the provision of the DR ServiS. The driving staff are pald directly on ali agency basis by the local authorities. This sum does not go through the VEST accounts but is quoted in the published accounts to satisfy the Charity Commission's SORP requirements. In total 12 full or part time paid staff were employed by VEST during the year. The main sour$ of funding for Community Transport are fares, grants from Cardiff County Council Adult Services Department, a bu5 servlces support grant, the local authority's manager's salary contribution, donations, fund raising activities and interest on Community Transport's resees. Page 1
VOLUNTARY EMERGENCY SERVICE TRANSPORT IV.E.S.T.) {Regi8tered number: 02059997) Report of the Trustees for the Year Ended 31 March 2025 OBJECTIVES AND ACTIVITIES Revlew of actlvltles and future development8 2024-25 was our eighteenth full year at our Portmanmoor site. In November 2011, November 2016 and April 2021 w& negotiated an extension of our 5-year lease on this slte with our current landlord. Overall, during 2024-25 we received 21,304 requests for service (up from 20,712 the previous yearl, of which the customers subsequently cancelled 2,C61 (up from 1,944). We were unable to service 2,148 requests due to the unavailability of a vehicle or driver at the date and time required, so that we seNiced 17,095 requests. Overall, during the year, we satisfied 90.40A of demand, carried 20,145 passengers and the fleet covered 128,494 miles. Each year Community Transport (CT) aims to make a surplus of income over expenditure before vehicle depreciation of about £50k to service the vehicle replacement reserve. We also se8k additional grant funding to help repla old andlor inefficient vehicles. The current slate of the reserve is satisfactory, Vehicles are replaced only when their reliability Wins to Cause concern. The council has loaned DR with 2 electric taxi-style vehicles pending replacement of older minibuses, Ther8 has been a fall in donations during the year to £171 (from £2,495). Fares income increased slightly to £17,337 (from £16,696). Costs have increased due to additional administration and older vehicle repairs. The net result of all this is that CT had a deficit of income over expenditure of £7,420. DR had a net deficit in-year of £8,677. The Trustees and operatlons team continue to search for new 8nd novel forms of grant and operations incoime. New vehicles will be operational from April 2025 onwards and it is expected this will reduce the ever-increasing maintenance costs of the older vehicles we had in the fleet. Cardiff Council Adult servIS grant continues and we have been advised that some funding for BSSG will continue to be forthcoming. Recorded data for VEST'S safety statistics confirm no significant change in standards ft)r the year, as in previous reporting pen'ods, all incidents and accidents, were investigated as a matter of routine, and were of a minor nature. Focussed driver training is key to sustaining safety standards. Prior to being allowed to drive fleet vehicles, all drivers - whether volunteers or permanent staff - undergo training in compliance with the Minibus Driver Awareness Scheme (MIDAS> which has been developed by the Community Transport Association (CTA) and is nationally recognised and designed to enhance minibus driving standards and promote safer operations. Some marketing activities have been introduced to make the public at large more aware of the services we provide and how they can benefit from them. Our web site has been updated with articles and descriptions of our activities and we maintain an active social media presence but we are seeking to further enhance all aspects during next year. The composition of the Board has changed. Ceri Witchard has assumed the appointment as Chairperson, Hugh Edney has resigned, and Rebecca Villis has assumed the role of Secretary. Roger Brown and Peter Jones (Treasurer) have joined the board. We are deeply indebted to our volunteers., without their excellent contribution the Community Transport service could not operate. Our sincere thanks are also due to our Operations Manager, Richard Davies, our administration staff and drivers for their hard work and outstanding commitment in providing these widety appreciated services. There are no restricted funds. Public benefit In shaping the objectives for the year and planning it5 activities, the trustees have considered the Charity Commission guidance on public benefit.The charity gives careful consideration to ensuring its activities are aGcessible to all elvJible users from all aspects of the community. Page 2
VOLUNTARY EMERGENCY SERVICE TRANSPORT (V.E.S.T.) (Register6d number: 02059997) Report of the Trustees for the Year Ended 31 March 2025 FINANCIAL REVIEW Risk PAanagement The Trustees review the risks & uncert2inties facing the charity on a regular basis in line with its adopted risk management policy. Reserves The board regularly review the required reserves of the charity. This review encompassed the nature of Income and expenditure streams, the need to match variable income with fixed commitments and the nature of the reserves. The Directors are aware of the need to continually monitor reserves, but are satisfied they currently hav8 adequate resources to fulfil their requirements for the foreseeable future. During the year the charity's general reseNe decre8sed to £362,994. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document VEST $ a company limited by guarantee, Ss defined by the Companies Act 2006 and is without share capital. The company is also a registered char5ty. It is govemed by a Memorandum and Articles of Associatron that were last amended on 26 September 2013. Recrultment and appolntm8nt of new tNstee8 The appointed trustees actively encourage and seek to identify appropriate persons to join the board as trustees. On appointment each new trustee is provided with a copy of the Memorandum and Articles of Association and the latest Trustees Annual Report and Accounts, Appropriate training aiid induction is provided to enable any new trustee to fulfil their duties. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 02059997 (England and Wales) Reglstered Charlty number 518275 Reglst8red offlce Unit 45 Portmanmoor Road Industrial Estate Cardiff CF24 5HB Trustees Ms C R Davies Prof M Healey Retired R C Green (resigned 10.5.25) C L Witchard (Chairperson) (resigned 8.5.25) Ms R Villis (Civil Servant) (resigned 8.5.251 R C Brown Retired P A Jones (Treasurer) Company Secretary Ms C R DavES Independent Examlner Stephen Horrigan FCA DHB Accountants Limited Chartered Accountants statutory Auditors 11 O Whitchurch Road Cardiff CF14 3LY Page 3
VOLUNTARY EMERGENCY SERVICE TRANSPORT (V.E.S.T.) {Reglstered number: 02059997) Report of the Trustees for the Year Ended 31 March 2025 This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 20 relating to small companies. Approved by order of the board of trustees on ....., and signed on its behalf by.. tee Page 4
VOLUNTARY EMERGENCY SERVICE TRANSPORT (V.E.S.T.) Statsment of Trustees. Responslbllities for the Year Ended 31 March 2025 The trustees (who are also the directors of VOLUNTARY EMERGENCY SERVICE TRANSPORT (V.E.S.T.) for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally A¢pIed Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which give a true and falr view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are requlred to select suitable accounting policies and then apply them consistently., obseNe the methods and principles in the Charity SORP., make judgements and estimates that are asOnable and prudent., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will conts'nue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the finaiicial position of the charitable company and to enable them to ensure that the financial statements cornply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the preVentn and deteGtion of fraud and other irregularities. Page 5
Independent Examlner's Report to the Trnstees of VOLUNTARY EMERGENCY SERVICE TRANSPORT (V.E.S.T.) (Registered number: 02059997) Independent examiner's report to the trustees of VQLUNTARY EMERGENCY SERVICE TRANSPORT {V.E.S.T.) ('the Company.) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025. Responsibilities and basi8 of report As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requiremei)ts of the Companies Act 2006 (Yhe 20C6 Acf). Having satisfied myself that the accounts of the Company are not required to be audited undèr Parl 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charty's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'}. In carrying out my examination I have followed the Dlrections given by the Charity Commission under Section 145(5) (b) of the 2011 Act. Independent examlner'8 Statement Since your Gharity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that l am qualified to undertake the examination because l 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 confim that no matters have come to my attention in connection with the &xamination giving me cause to beli8ve: accounting records were not k8Pt in respect of the Company as required by Section 386 of the 2006 Act; or the accounts do not accord with those records., or the accounts do not Gomply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view whlch is not a matter considered as part of an independent examination., or the accounts have not been prepared in accordan with the methods and principles of the Statement of Recommended Practice for accoLtntlng and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102}). 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 accounts to be reached, Step en Horrigan FCA DHB Accountants Limited Chartered Accountants Statutory Auditors 110 Whitchurch Road Cardiff CF14 3LY Date.. Page 6
VOLUNTARY EMERGENCY SERVICE TRANSPORT IV.E.S.T.I Statement of Financial Actlvitjes (Incorporatlng an Income and Expenditure Account) for the Year Ended 31 March 2025 2025 Unrestrictsd fund 2024 Total funds Notes INCOME AND ENDOWMENTS FROM Grants, donations and legacies Charitable actlvftles Charitable activikn'es 287,808 278,538 1 D3,833 125,308 Investment income 3,851 3,741 Total 395.492 407,587 EXPENDITURE ON Charitable activltles Charitable activities 298,572 316,499 Other 113,805 84,546 Total 412,377 401,045 NET INCOMEI(EXPENDITURE) (16,885) 6,542 RECONCILIATION OF FUNDS Total funds brought forward 379,879 373,337 TOTAL FUNDS CARRIED FORWARD 362,994 379,879 The notes form part of these fi'nancial statements Page 7
VOLUNTARY EMERGENCY SERVICE TrANSPORT (V.E.S.T.) (Reglstered number: 02D59997) Balance Sheet 31 March 2025 2025 Unrestricted fund 2024 Total funds Notes FIXED ASSETS Tangible assets 54,283 72,378 CURRENT ASSETS Debtors Cash at bank and in hand 47,261 283,020 62,547 267,598 330,281 330,145 CREDITORS Amounts falling diie within on& year 10 {?.1,570) (22,644) NET CURRENT ASSETS 308,711 307,501 TOTALASSETS LESS CURRENT LIABILITIES 362,994 379,879 NET ASSETS 362,994 379,879 FUNDS Unrestricted funds.. General fund 11 362,994 379,87S TOTAL FUNDS 362,994 379,879 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 MarGh 2025. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Sectj'on 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for {a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the state of affairs of the charrtable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which othewise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. (b) The notes form part of these financial statements Page 8 contin
VOLUNTARY EMERGENCY SERVICE TRANSPORT (V.E.S.T.) (Regi8t8red number.. 02059997) Balance Sheet- continued 31 March 2025 These financial ststements have been prepared in accordance with the provisions applicable to charitable companies subject lo the small companies regime. The finan al statements were approved by the Board of Trustees and authorised for issue on . and were signed on its behalf by,. PAJone Truste The notes form part of these flnancial statements Page 9
VOLUNTARY EMERGENCY SERVICE TRANSPORT IV.E.S.T.) Notes to the Flnancial Ststements for the Year Ended 31 March 2025 ACCOUNTING POLICIÈS Basis of preparfng thg financlal statements The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102> '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),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historitsi cost convention. The financial statements are presented in Pounds Sterling which is the functional operating currency of the Charity. Income All income is recognised in the Statement of Flnancial Activities once the charity has entitlement to the funds, it is probable that the income will be reiVed and the amount can be measured reliably. Income from govemment and other grants are recognlsed when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to th8t expenditure, it is probable that a transfer of economic benefits will be required in settlement and th8 amount of the obligation can be measured reliably. Expenditur8 IS accounted for on an accruals basis and has been classrfied under headings that aggregate all cost related to the category, Where costs cannot be directly attributed to particular headings they have been all¢xated tr) activities on a basis consistent with the use of reSoUrs. Donatlons and gift8 Donations and gifts are recognised when received, Gifts in kind are accounted for at a reasonable estimate of their value to the charity. Donated SeiceS are included in incomeing resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and materials. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life, Motor vehicles Computer equipment 25Ye on reducing balance 25(/po on reducing balance Taxation There is no taxation liability arising on these accounts as the company is a registered charity whose income and gains are applied 8xclusively for charitable purposes. Fund accountlng Unrestricted funds can be used in accordance with the charitable objectives st the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Page10 contin
VOLUNTARY EMERGENCY SERVICE TRANSPORT (V.E.S.T.) Notes to the Financial Statements - contlnued for the Year Ended 31 Kqarch 2025 ACCOUNTING POLICIES - continued Fund accounting Further explanation of the nature ané purpose of each fund is included in the notes to the financial statements. INVESTMENT INCOME 2025 2024 Deposit account interest 3,851 3,741 INCOME FROM CHARITABLE ACTIVITIES 2025 Charitable activities 2D24 Total activities Fares Profit on disposal of vehicles 93,080 10,753 119,908 5.400 103,833 125,3D8 NET INCOPIEI(EXPENDITURE) Net incom@l(expenditurel is stated after chargingl(crediting}'. 2025 2024 Depreciation - owned assets 18,095 17,513 TRUSTEES. REMUNERATION AND BENEFrrs There were no trustee8' remuneration or other benefits for the year ended 31 MarGh 2025 nor for the year ended 31 March 2024. Trustees. expens08 There were no trustees, expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024. STAFF COSTS The average monthly nurnber of employees during the year was as follows,. Manager Administration Drivers 2025 2024 12 11 No employees received emoluments in excess of £60, 000. Pase11 contin
VOLUNTARY EMERGENCY SERVICE TRANSPORT {V.E.S.T.) Notes to the Financlal Statements - continued for the Year Ended 31 March 2025 STAFF COSTS - continued VEST employees 11 people, a manager, 3 assistant administrators and 8 drivers. The manager is paid from CT funds, to which the local authorities contribute a supplementary grant of 15 % of her gross pay cost. All other stsff are employed by and paid direct by the local authorities on an agency basis. The totsl gross value of thls agency payment during 2024125 was £215,764. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund INCOME AND ENDOWMENTS FROM Grants, donations and legacies Charitable activltl88 Charitable activities 278,538 125,308 Investment income 3,741 Total 407,587 EXPENDITURE ON Charitable activitie8 Charitable activities 316,499 Other 84,546 Total 401,045 NET INCOME 6,542 RECONCILIATION OF FUNDS Total funds brought fotward 373,337 TOTAL FUNDS CARRIED FORWARD 379,879 Page 12 contin
VOLUNTARY EMERGENCY SERVICE TRANSPORT (V.E.S.T.) ' Detalled Statement of Flnanclal Activities for the Year Ended 31 March 2025 2025 2024 INCOMEAND ENDOWMENTS Grants, donatlons and legacles Donations and gifts Bus Service Support Grant Grants re1vable 171 9,355 278,282 2,495 8,576 267.467 287.808 278,538 Investment income tkposit account interest 3,851 3,741 Charitable activltles Fares Profit on disposal of vehicles 93,080 10,753 119,g08 5,400 103,833 125,308 Total Incoming resources 395,4g2 407,587 EXPENDITURE Charitablo activltles Wages Motor expenses Travel and subsistence Protective clothing Computer maintenan & Support Trainlng Vehicle Depreclation Mobile Telephone and Radio Telephone 215,764 52,729 1,653 513 4,992 156 18,094 1,873 2,798 217,470 65,660 1,364 7,234 429 17,513 4.063 1,925 298,572 316,499 Support costs Management Wages Pensions Rent & Rates Insuran Light and heat Postage and stationery Accountancy Sundries Legal costs (DBS checks) Repairs & Maintenance 53,737 745 30,914 1,577 6,888 1,822 2,230 2,194 4,097 8,814 35,187 33.770 2,766 2.971 2,671 2,209 1,002 3,204 113,018 84,546 This page does not form part of the statutory financial statements Page 16