Company Registration Number: N1066215 Charity Number: NIC102689 Newry and Mourne Community Transport IA company limited by guarantse. not havlng a share capltal) Annual Report and Audited Financial Statements for the financial year ended 31 March 2024 Daly Park & Company Ltd Charterted Accountants and Reglstered Auditors 4 Carnegie Street Lurgan BT66 6AS Northern Ireland
Newry and Mourne Community Transport IA company Ilmited by guarantee. not having a share capital) CONTENTS Page Trustees, and Other Information Trustees, Annual Report Statement of Trustees, Responsibilities Independent Auditoff s Report 9- 11 Statement of Financial Activities 12 Balance Sheet 13 Notes to the Financial Statements 14-19
Newry and Mourne Community Transport IA company limited by guarantee, not having a share capitsll TRUSTEES, AND OTHER INFORMATION Trustees Robert Dalzell William Davis Raymond Jackson Denise McLoughlin Richard Forsythe (Resigned 5 January 2024) Brian Quinn (Resigned 5 January 2024) Company Secretary Stephen Yeomans (Appointed 1 March 2024} Brian Groves (Resigned 1 March 2024) Charity Number in Northern Ireland NIC102689 Company Registration Number N1066215 Registered Office and Principal Address Unit 14 ITEC Business Park Newry Down BT34 1 DN Northern Ireland Auditors Daly Park & Company Ltd Charterted Accounlants and Registered Audilors 4 Camegie Street Lurgan BT66 6AS Northern Ireland Principal Bankers Bank of Ireland 12 Trevor Hill Newry Co. Down BT34 1 DN Northem Ireland
Newry and Mourne Community Transport IA company limitsd by guarantee, not having a share capital) TRUSTEES. ANNUAL REPORT for the financial year ended 31 March 2024 The trustees present their Trustees, Annual Report, combining the Directors, Report and Trustees, Report, and the audited financial statements for the financial year ended 31 March 2024. The financial statements are prepared in accordan with the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102). The Trustees, Report contains the information required to be provided in the Trustees. Annual Report under the Statement of Recommended Practice (SORP) guidelines. The trustees of the charity are also charity trustees for the purpose of charity law and under the charity's constitution are known as members of the board of trustees. In this report the trustees of Newry and Mourne Community Transport present a summary of its purpose, governance, activities. achievements and finances for the financial year 31 March 2024. The charity is a regislered charity and hence the report and results are presented in a fomi which complies with the requiremenls of the Companies Act 2006 and, although not obliged to comply with the Statement of Recommended Practice applicable in the UK and Republic of Ireland FRS 102, the organisation has implemented its recommendations where relevant in these financial statements. Mission, Objectives and Strategy Objectives Encourage volunteering through its Dial a Lift and group hire policy where members of that group may undertake MIDAS training to drive vehicles on their group's behalf and also by the Dial a Lift Service funded by the Department for Infrastructure in areas of need and where volunteers are available. Endeavour to nurture and develop slrong partnerships with other local transport providers from the community. voluntary, private, stalutory and local govemment sectors. Working in collaboration with the Southern Area Partnerships Amagh Rural Transport and Down Armagh Rural Transport to deliver the Dial a Lift Service for the registered members. Focus on unemployment and training. we will market our services at those seekillg training or employment opportunities. Newry City is a natural hub for employment and training and we will endeavour to identify those individuals and groups from the rural areas who require assistance in attending educational centres and places of employment. Give priority to groupsfindividuals involved in cross community activity and whose aims are to build bridges between different faith communities and ethnic and cultural backgrounds. Address social exclusion in the rural areas of Newry. Mourne & Down District Council Area by providing a Dial a Lift transport Servi for people with reduced mobility, who are rurally isolated andlor those who are affected by povety. Provide transportation services to individuals and groups who are based or live in a rural area of Newry, Mourne & Down District Council Area. Eligible groups or individuals must be basedilive outside the urban area as defined by the DFI Urban Disability Action Transport SeThice and the activities must fall within the following categories= (a) Education (b) Employment (c} Recreation {d) Religious (e) Training (D Other activities of benefit. Structure, Governance and Management Structure Newry & Mourne Cornmunity Transport is a company limited by guarantee and does not have a share capital. It is governed by a memorandum and articles of associalion and the liability of each member is lirnited to an amount not exedIng £1. Newry & Mourne Community Transport has an indudion programme for new directors as part of which they are advised of their legal responsibility. main duties and roles.
Newry and Mourne Community Transport {A company limited by guarantee, not having a share capital) TRUSTEES, ANNUAL REPORT for the financial year ended 31 March 2024 The directors have ultimate legal and financial responsibility for the affairs of Newry & Mourne Community Transport, although the management of the organisalion is undertaken by the Project Officer and Administration Assistant who report to the Board of Directors at regular meelings. The directors meet on monthly or bi-monthly basis. The directors of Ihe company at 31 March 2023, all of whom have been directors for the whole of the period ended on that date, unless otherwise staled, are listed on the information page. Revlew of Activities, Achievements and Performance In 202312024 Newry & Mourne Community Transport {NMCT) delivered the following DFI supported activities: Dial-a-lift, door-to-door transport SeN1 for individuals living in rural areas. The Assisted Rural Travel Scheme. Dial-a-lift is a door-to-door transport seNice for individuals living in rural areas who are unable to or find it dtfficult to use public transport. Dial a lift can be used to access local services such as.. GP I dinic appoinlmentsl Denlist or Opticians, Shopping. Visiting family and friends and many other recreational activities. DDAT are passionately aware of the need for a setvice for rural communities which fits beeen Public Servi$ by Translink and the Private sector (taxis and Coaches). For over 25 years, Community Transport has offered a variety of transport solutions in Ihe South East of Nl including Dial a Lift, Group Hire and a social car scheme (staffed by volunteers in their own vehicles). This effort is ongoing and the demand is as high as it everwas and NMCT cannot meet all the demand on its resources. In 2023124, uncertainty over sustainable funding created an air of pessimism among CT partnerships and members who have come to rely on the lifeline of community transport. While individual membership reduced to 175. the demand for trips remained slrong. 434/0 of the individual trips were made by people with a disability. NMCT has achieved 7,920 Dial-a-lift Irips during the 2023124 financial year. Group Hirelself Drive.. NMCT also provide affordable and accessible transport for our 27 member groups. In 202312024 we completed 800 group hire bookings which resulted in 8,435 group hire trips. 25 % of these trips were provided by volunteer drivers. Our group membership has been most impacted by the detrimental impact that driver shortages is having across the sector. and the loss of casual drivers who were able to cover evening and weekend Group hire bookings. Volunteer Social Car Scheme: We operate a Social Car Scheme (SCS) whereby suitably recruited and trained volunteers use their own cars under the control of our staff. providing a safe. efficient, and affordable door-t(Fdoor service as an alternative for individuals that do not have access to their own transport or that of friends and family, and who have difficulty accessing public transport facilities. This form of transport provides a more flexible and accessible one-to-one alternative lo the minibus in circumstances where time and specific destination are critical, as in such cases as Social Welfare and Health related journeys when the driver may be required to wait and provide a return joumey. In 2023124 we provided a totsl of 335 trips through the social car scheme. 260 of these were Dial-a-lift trips and 53 were Out ofArea trips. Financlal Revlew The results for the financial year are set out on page 12 and additional notes are provided showing income and expenditure in greater detail. Financial Results At the end of the financial year the charity has assets of £207,899 (2023 - £246.011) and liabilities of £17,549 (2023 - £4,774). The net assets of the charity have decreased by £(50,887). Reserves Posltion and Policy Introduction Newry & Moume Community Transport {NMCT} aim to provide safe. accessible. responsive and affordable transport to members of the rural community thereby reducing rural isolation and enhancing access to basic setvices for those that do not have reasonable access to public transport or to a car or a family member, relative or friend that has access to a car. Current Policy To trade and deliver services. ernploy staff, rent premises, purchase I hire I lease vehicles and equipment, purchase goods and services- NMCT must ensure that il has sufficient resources.
Newry and Mourne Community Transport {A company Ilmlted by guaranteg. not havlng a share capital) TRUSTEES. ANNUAL REPORT for the financial year ended 31 March 2024 Even when an organisation operates in the most stable of environments where future income streams and expenditure requirements can be identified there will remain an element of UnrtaintY as to the absolute timing of each individual transaction and also the possibility that unforeseen expenses and liabililies will emerge. Against this background it is considered good practi to seek lo build some financial reserves which will allow us to meet future commitmenls or unforeseen expenses without a negative impact on our ability to deliver our services or develop our business in the manner planned. By holding reserves we are able to-. l. Absorb setbacks and lake advantage of change and opportunity-. Demonstrate that we have thought through how we might secure our viability beyond the immediate future and provide reliable seNices over the longer term., 3. Demonstrate to potential funders that we are effectively managing our resources. and have given consideration to our long-term plans and viability. There is no absolute level of free reseNes that we as an organisation should hold but when looking at the level of frèe reserves wnsideration should include.. 1. How secure is our present funding. 2. How long would it lake to find allemative sources of funding. 3. If the organisation had to close, how long would il take to wind up in an orderly mannerfl 4. What costs could be involved in winding up? _ consider: a. Redundancy costs b. Other staffing liabilities including maternity I paternity pay c. Legal and accountancy costs d. Time to expiry of lease on property, vehicles and office equipment. As a general guide an acceptable level of free reserve might be considered to be.. 1. Sufficient free resetves to provide cover for beeen 3 - 6 months in relation to know liabilities-, and 2. A smaller additional provision of free reserves for unforeseen liabilities. N&MCT reserves policy should be reviewed every 3 years and updated at the end of each financial year to take account of any change in circumstance and to recalculate the percentage free reserve based on the 31 March balance. Newry & Mourne Community Transport had £241,239 reserves at 31 March 2023, £126.563 of whiGh were free reseThes. Principal Risks and Uncertainties The directors have actively reviewed the major risks which the tharity faces and believes Ihat the charity has sufficient resources in the event of adverse conditions. The directors have also examined other business and operational risks. which the charily fa$ and confirm that it has established systems to mitigate significant risks. The values and vision for the future for Newry & Mourne Community Transport are to strtve to deliver.. (a) AcKessibility A service available to people with a range of disabilities andlor limited mobility- (b) Volunteering Encourage volunteering and active citizenship through provision of group hire vehicles on a "without drivel, basis and by promoting a Community Car Scheme. (c) Equality Membership is open to everyone regardless of age. ra, and ethnicity. religious or political beliefs. (d) Social Inclusion Target individualslgroups living in marginalized circumslances and geographically deprivedlisolated areas regardless of age, ethnicity. faith, gender etc. (e) Target Social Need & Inequality Endeavour to provide transport to facilitate training and employment opportunities we will target areas of deprivation
Newry and Mourne Community Transport IA company limit9d by guarantee. not havlng a share capital) TRUSTEES. ANNUAL REPORT for Ihe financial year ended 31 March 2024 with onus on health, education and housing. (fj Community Cohesion Promote interactivity between different faithlcultural communities. (g} Partnership Ensure that we complement the work of other agencies involved in the development of rural communities. (h) Participation Ensure that members, providers and users are involved in the development of Ihe company. (i) Dignity & spect We will ensure that all customers, staff and volunteers are treated with dignity and respect. Trustses The truslees who served throughout the financial year. except as noted, were as follows.. Robert Dalzell William Davis Raymond Jackson Denise McLoughlin Richard Forsythe {Resigned 5 January 2024) Brian Quinn (Resigned 5 January 2024) In accordance with the Constitution, the trustees retire by rotation and, being eligible, offer themselves for re•election. The secretaries who served during the financial year were.. Stephen Yeomans (Appointed 1 March 2024) Brian Groves (Resigned 1 March 2024) Compliance with Sector-wide Legislation and Standards The charity engages pro-actively with legislalion, standards and codes which aré developed for the sedor. Newry and Mourne Community Transport subscribes to and is compliant with the following: The Companies Act 2006 The Charities SORP (FRS 102) Grants The directors are satisfied that the RTF and ARTS grant has been used solely for the purposes intended and in accordance with the terms and conditions of grant. The Auditors Daly Park & Company Ltd, (Charterted Accountants). were appointed auditors by the trustees to fill the casual vacancy and they have expressed their willingness to continue in office in accordance with the provisions of Section 485 of the Companies Act 2006. Approved by the Board of Trustees on 24 June 2024 and signed on Its behalf by: Denlse McLoughlin
Newry and Mourne Comrnunity Transport IA company lirnited by guarantee. not havlng a share capltall STATEMENT OF TRUSTEES, RESPONSIBILITIES for the financial year ended 31 March 2024 The trustees. who are also directors of Newry and Mourne Community Transport for the purposes of company law. are responsible for preparing the financial statements in accordance with applicable law and regulations. Company law requires the trustees as the directors to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A (Small Enliliesl. Under company law the trustees musl not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period. In preparing these financial statements. the trustees are required to: select suitable accounting policies and apply them consistently., observe the methods and principles in the Charities SORP make judgements and accounting estimates Ihal are reasonable and prudent., stale whether the financial statements have been prepared in arLordance with applicable accounting standards, identify those standards, and note the effect and the reasons for any material departure from those standards.. and prepare the financial statements on the going concern basis unless il is inappropriate lo presume that the charity will continue in operation. As explained in note 3, slate whether the applicable in the UK and Republic of Ireland FRS 102 has been followed., The Iruslees are responsible for keeping adequate accounting records that are sufficient lo show and explain the charity's transactions and disclose with reasonable accuracy al any lime the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006 and. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and aeieciion OT rraua ana oiner irregularities. In so far as the trustees are aware: there is no relevant audit infomiation {infom)ation needed by the charity's auditor in connection with preparing the auditor's report) of which the charity's auditor is unaware, and the trustees have taken all the steps that Ihey oughl to have laken as trustees in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. Approved by the Board of Trustees on 24 June 2024 and signed on its behalf by: Denise M¢Loughlin
INDEPENDENT AUDITOR'S REPORT to the Members of Newry and Mourne Community Transport IA company Ilmited by guarantge. not having a share capitsl) Report on the audit of the financial statements Opinion We have audited the charity financial statements of Newry and Moume Community Transport {'the charity,) for the financial year ended 31 March 2024 which comprise the Slatement of Financial Activities (incorporating an Income and Expenditure Account), the Balance Sheet and notes to the financial statements, including the summary ol significant accounting policies sel out in note 2. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" applying Section 1A of that Stsndard and Accounting and Reporting by Charities.- Statement of Recommended Practice applicable to charities preparing their accounts in accordance with FRS 102. In our opinion. when reporting in accordance with a fair presentation framework the financial statements.. give a true and fair view of the state of the charity's affairs as at 31 March 2024 and of ils deficit for the financial year Ihen ended., have been properly prepared in accordance with United Kingdom Generally ACpted Accounting Practice., and have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act (Northern Ireland) 2008. Basis for opinlon We conducted our audit in accordance with International Standards on Auditing {UKI (ISAS (UK)) and applicable law. Our responsibilities under those slandards are further described in the Auditor's responsibilities for the audit of the financial stalemenls section of our report. We are independent of the charity in accordance with ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibililies in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements. we have concluded that the tTUStees' use of the going concem basis of accounting in the preparalion of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions Ihat. individually or collectively, may cast significant doubt on the charity's ability to continue as a going conrn for a period of at least twelve months from the date when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other Infomiation The other information comprises the infomialion included in the annual report other than the financial statements and our Auditor's Report thereon. The trustees are responsible ft)r the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except lo the extent otheNise explicitly stated in our report, we do not express any fom of assurance conclusion thereon. Our responsibility is to read the other infomiation and, in doing so. consider whether the other infornation is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to delemiine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nolhing to report in this regard. Opinion on other matter prescribed by the Companies Act 2006 In our opinion. based on the work undertaken in the course of the audit.. the information given in the Trustees, Annual Report for the financial year for which the financial slalement5 are prepared is consislent with the financial statements- and the Trustees, Annual Report has been prepared in accordance with applicable legal requiremenls.
INDEPENDENT AUDITOR'S REPORT to the Members of Newry and Mourne Community Transport {A company limited by guarantee, not havlng a share capital) Matters on which we are required to report by exception In the light of our knowledge and understanding of Ihe charity and its environment obtained in the course of the audit, we have not identified malerial misstatements in the Trustees, Annual Report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if. in our opinion.. adequate accounting records have not been kept., or the financial statements are not in agreement with the accounting records and rètums,. or certain disclosures of trustees, remuneration specified by law are not made-, or the trustees were not entitled lo prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, exemption in preparing the Trustees, Annual Report. Responsibilities of trustees for the financial staternents As explained more fully in Ihe Statement of Trustees, Responsibilities set out on page 9, the trustees are responsible for the preparation of the financial statemenls and for being satisfied that they give a true and fair view, and for such internal control as they deteffnine is ne$sary to enable the preparation of financial statements that are free from material misststement. whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing. as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends lo liquidate the charity or to cease operations, or has no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements Our objectives are lo oblain reasonable assurance about whether the financial statements as a whole are free from material misstatement. whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always delect a malerial misstatement when it exists. Misstatements can arise from fraud or error and are considered material if. individually or in Ihe aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. IegUlarities, including fraud, are instances of non-compliance wilh laws and regulations. We design procedures in line with our responsibilities, outlined above. to detect material misstalements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below- Further infomjation regarding the scope of our responsibilities as auditor As part of an audit in accordance wilh ISAS (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also= Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or eOr, design and perform audit procedures responsive to those risks, and obtain audit eviden that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion. forgery, intentional omissions, misrepresentations, or the override of intemal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the charity's internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by trustees. Conclude on the appropriateness of the trustees, use of the going concern basis of accounting and, based on the audit evidence obtained. whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to Gontinue as a going concern. If we conclude that a material UnrtaInty exists, we are required to draw attention in our Auditorfs Report to the related disclosure5 in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Auditorfs Report. However, future events or condilions may cause the charity to cease to continue as a going concern. Evaluale the overall presentation, structure and content of the financial Statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. 10
INDEPENDENT AUDITOR'S REPORT to the Members of Newry and Mourne Community Transport IA company limited by guarantee, not havlng a share ¢apitsl} We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings. including any significant deficiencies in intemal control that we identify during our audit. The purpose of our audit work and to whom we owe our responsibilities This report is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To Ihe fvllest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as body, for our audit wor for this report, or for the opinions we have formed. PARK & COM TD rterted Accountants and Registered Auditors 4 Carnegie Street Lurgan BT66 6AS Northern Ireland 24 June 2024 11
(4V4
Newry and Mourne Community Transport (A company Ilmited by guarantee, not having a share capltsl) Company Number: N1066215 BALANCE SHEET as at 31 March 2024 2024 2023 Notes Fixed Assets Tangible assets 99,835 114,676 Current Assets Debtors Cash at bank and in hand 10 19,438 88,626 7,069 124,266 108,064 131,335 Creditors: Amounts falling due within one year 11 (17,549) (4,774) Net Current Assets 90,515 126,561 Total Assets less Current Llabilities 190,350 241,237 Funds Dfi Restricted Funds Designated funds (Unrestricted) General fund (unrestricted) 87,172 99,835 90,515 154.065 Total funds 13 190,350 241,237 These financial slatements have been prepared in accordan with the special provisions relating to srnall companies within Part 15 of the Companies Act 2006. The financial statements have been prepared in accordance with the provisions applicable to Gompanies subject to the small companies, regime and in accordance with FRS 102 "The FinanGial Reporting Standard applicable in the UK and Republic of Ireland" applying Section 1A of that Slandard. Approved by the Board of Trustees and authorised for issue on 24 June 2024 and signed on its behalf by Denise McLoughlin The notes on pages 14 to 19 fom part of the financial statements 13
Newry and Mourne Community Transport {A company Ilmited by guarantee, not having a share capital) NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2024 GENERAL INFORMATION Newry and Mourne Community Transport is a company limiled by guarantee incorporaled in Northern Ireland. The registered office ofthe charity is Unit 14, ITEC Business Park, Newry, Down, BT34 1DN, Northem Ireland which is also Ihe principal pla of business of the charity. The financial statements have been presented in Pound (£) which is also the functional currency of the charity. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following accounting policies have been applied consistently in dealing with items which are considered material in relation lo the charity's financial statements. Basis of preparation The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value. The financial statements have been prepared in accordance with the Slatement of Recommended Practice {SORP) "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102", applying Section 1A of that Standard. As permitted by the Companies Act 2006, the charity has varied the standard formats in that act for the Statement of Financial Activities and the Balance Sheet. Departures from the stsndard fomats are to comply with the requirements of the Charities SORP and are in compliance with section 4.7, 10.6 and 15.2 of that SORP. Statement of compliance The financial statements of the charity for the financial year ended 31 December 2017 have been prepared on the going concern basis and in accordance with the Statement of Recommended Practice {SORP} "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102" applying Section 1A of that Slandard. Fund accounting The following are the categories of funds maintained: Restricted funds Restricted funds represent income received which can only be used for particular purposes, as specified by the donors. Such purposes are within the overall objectives of the charity. Unrestricted funds Unrestricted funds consist of General and Designated funds. General funds represent amounts which are expendable at the discretion of the board, in furtherance of the objectives of the charily. Designated funds comprise unrestricted funds that Ihe board has. at its discretion. set aside for particular purposes. These designations have an adminislralive purpose only. and do not legally restrict the board's discretion lo apply the fund. Income Income is recognised by inclusion in the Statement of Financial Activities only when the charity is legally entilled to the income, performance conditions attached to the item(s) of income have been met. the amounts involved can be measured with sufficient reliability and it is probable that the income will be received by the charity. Income from charitable activities Income from charitable activities indude income earned from the supply of services under contractual arrangements and from perfomiance related grants which have conditions that specify the provision of particular services to be provided by Ihe charity. Income from government and other co-funders is recognised when the charity is legally entitled to the income because it is fulfilling the conditions contained in Ihe related funding agreements. Where a grant is received in advance. its recognition is deferred and included in creditors. Where entitlement occurs before income is received, it is accrued in debtors. Grants from governments and other co-funders typically indude one of the following types of conditions- Performance based conditions.. whereby the charity is Gontractually entitled to fvnding only to the extent that the core objectives of the grant agreement are achieved. Where the charity is meeting the core objectives of a 14
continued Newry and Mourne Community Transport IA company limited by guarnntee, not having a share capitsl NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2024 grant agreement, it recognises the related expenditure, to the extent that it is reimbursable by the donor, as income. -Time based conditions= whereby the charity is contractually enlilled to funding on the condition that it is utilised in a particular period. In these cases the charity recognises the income to the extent it is ulilised within the period specified in the agreement. In the absence of such conditions, assuming that receipt is probable and the amount can be reliably measured, grant income is recognised once the charity is notified of entitlement. Grants received towards capital expenditure are credited to the Statement of Financial Activities when received or receivable, whichever is earlier. Expenditure Expenditure is analysed belween costs of charitable activities and raising funds. The costs of each activty are separately accurnulated and disclosed, and analysed according to their major components. Expenditure is recognised when a legal or constructive obligation exists as a result of a past event, a transfer of economic benefits is required in settlement and the amount of the obligation can be reliably measured. Support costs are Ihose functions that assist the work of the charity but cannot be attributed to one activity. Such costs are all¢xated to activities in proportion to staff time spent or other suitable measure for each activity. Tangible fixed assets and depreciation Tangible fixed assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off Ihe original cost or valuation of tangible fixed assets. less their estimated residual value, over their expected useful lives as follows.. Fixtures, fittings and equipment Motor vehicles 15 /0 Straight line 25Q/o Straight line Debtors Deblors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Income recognised by the charity from govemment agencies and other COThfunders, but not yet reiVed at financial year end, is included in debtors. Cash at bank and in hand Cash at bank and in hand comprises cash on deposit at banks requiring less than three months notice of withdrawal. Taxation and deferred taxation No current or deferred laxation arises as the charity has been granted charitable exemption. Irrecoverable valued added tax is expensed as incurred. Deferred tax is recognised in respect of all timing differen$ that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future. or a right to pay less tax in the future. Timing dIfferenS are temporary differences between the charity's taxable income and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse. based on tax rales and laws that have been enacted or substanlively enacted by the balance sheet date. GOING CONCERN Al the date of approval of these financial statements, the charity has yet to receive formal confimation from the Department of Infrastructure in relation to the 2024125 funding for the Rural Transport Fund and Assisted Rural Travel Scheme. This funding amounted to £114.076 in the 2023124 financial year. In the interim period, the charity is currently receiving monthly grants on a similar level to the fijnding provided for 2023124. The trustees are confident that a formal letter of offer and agreement of the 2024125 funding package will be agreed shortly. In Ihis interim period, the tnjstees are carefully managing cashflow and are in the pro5$ of looking at other sources of income. Delays in the confirmation of these grant5 ha5 been the norm in recent years. The trustees continue to prepare the financial statements on a going concern basis. 15
continued Newry and Mourne Community Transport IA company limited by guarantse. not havlng a share capital) NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2024 4. INCOME Unreslricled other DFI Reslricted Restricted 2024Total 2023 Total Voluntary Income DFI Rural Transport Fund Assiste(i Rural Travel Scheme 89,359 22.086 89,35g 22.086 285,262 78,212 2,060 32,895 398,42g DFI Capital Disability Action Transport Scheme 44,180 44,180 44,180 155,625 111.445 Aclivities for Gen Funds Dial a Lift 7,410 7,410 g62 6,205 2,234 8,43g DATS Fare income 962 962 7,410 8.372 Other Income Transport Services 13,362 13,362 13,362 13,362 21,264 21.264 13,362 45,142 118,855 177,359 428,132 EXPENDITURE Direct Costs Support Costs 2024 2( Expenditure on charitable activites 170,243 58,003 228.246 456,1 ANALYSIS OF SUPPORT COSTS 2024 2023 Depreciation Audil fees Bank Fees General Expenses 53,325 1,667 261 2,750 42,085 1.000 286 4.741 58.003 48,115 NET INCOME 2024 2023 Net Income is statsd after charglngl{crediting): Depreciation of tangible assets Auditor's remuneration.. audit services 54,836 48.782 1.667 1,000 EMPLOYEES AND REMUNERATION The staff costs comprise.. 2024 2023 Wages and salaries 88,446 88,157 16
continued Newry and Mourne Community Transport IA company limited by guarantee. not having a share ¢apital} NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2024 TANGIBLE FIXED ASSETS Fixtures, fittings and equipment Motor vehicles Total Cost At 1 April 2023 Additions Disposals 9,797 253.275 39,995 (16,995) 263,072 39.995 (16,995) Al 31 March 2024 9.797 276,275 286,072 Depreciation At 1 April 2023 Charge for the financial year On disposals 8,286 1,511 140,110 53,325 (16,995) 148,396 54.836 (16.995) Al 31 March 2024 9.797 176,440 186,237 Net book value At 31 March 2024 99,835 99,835 At 31 March 2023 1,511 113.165 114,676 10. DEBTORS 2024 2023 Other debtors Taxation and social security costs Prepayments and accrued income 2,631 4,070 15,368 4,438 19,438 7,069 11. CREDITORS Amounts falling due within one year 2024 2023 Taxation and social security costs Accruals and deferred income 13,742 3,807 3,774 1,000 17,549 4,774 12. RESERVES 2024 2023 At the beginning of the year Deficit for the financial year 241.237 {50,8871 269,989 {28,752) At Ihe end ofthe year 190,350 241,237 17
continued Newry and Mourne Community Transport IA company limited by guarantee, not having a share capital) NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2024 13. FUNDS 13.1 RECONCILIATION OF MOVEMENT IN FUNDS Unrestricted Endowment Funds Funds Total Funds At 1 April 2022 Movement during the financial year 135,331 18.734 133.246 (46,074) 269,989 (28,752) At 31 March 2023 Movement during the financial year 154,065 36,285 87.172 (87,172) 241,237 (50,887) At 31 March 2024 190,350 190,350 13.2 ANALYSIS OF MOVEMENTS ON FUNDS 13.2ANALYSIS OF FUNDS Opening Balance Closing Balance Income Expenditure Transfers l Restricted Funds DFI Capital DFI Rural Transport Funding Assisted Rural Travel Scheme 87,172 87,172 89,359 22,086 7,410 8g,359 22,086 7,410 DAL Fare Income 87,172 118,855 118,855 87,172 Othèr Restricted Funds Disability.4ction DATS Fare Income 44,180 962 44,180 962 45,142 45,142 Unresrricted Fixed Asset Fund 99,835 12,663 87,172 99,835 90,515 1go,350 General Fund 154.065 154,065 13.362 13,362 64,249 64,249 TOTAL 241,237 177,359 228,246 190,350 13.3 ANALYSIS OF NET ASSETS BY FUND Fixed assets - charity use Current assets Current liabilities Total Unrestricted general funds 99,835 105,808 (15,293) 190,350 99,835 105,808 115.2931 190,350 18
continued Newry and Mourne Community Transport {A company limited by guaranteè. not having a share capitall NOTES TO THE FINANCIAL STATEMENTS for Ihe financial year ended 31 March 2024 14. STATUS The charity is a company limited by guarantee not having a share capital. The liability of Ihe members is limited. Every member of the company undertakes to contribute to the assels of the company in the event of its being wound up while they are members, or within one financial year thereafter, for the payment of the debts and liabilities of the company contracted before they ceased to be members. and the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributors among themselves, suth amount as may be required, not exceeding £ 1. 15. POST-BALANCE SHEET EVENTS There have been no significant events affecting the Charity Sin the financial year-end. 16. LIABILITY OF MEMBERS Newry & Mourne Community Transport is company limited by guarantee and does not have a share capital. The liability of each member is limited to an amount not exceeding £1. 17. CONTINGENT LIABILITY The company has obligations under standard grant letters of offer to repay amounts received as grants, in the breach of or non compliance with the conditions of the agreement. At present, the directors believe that all grant conditions have been complied with and no liabilities exist. 18. TRUSTEE REMUNERATION None of the Trustees received nor waived any remuneration for their services as Trustees in either the current or previous financial year. There were payments made to Trustees. which totaled £9.580. in respect of volunteer driver 5etvices they provided to the organisation during the current financial year. These payments have been made due to shortage of available volunteer drivers following covid and the Board are actively looking to reGruit new volunteers to minimise these payments in future. Written agreements are in place. 19