REGisfERED COMPANY NUMBER: N1037744 (Northern Ireland) REGISTERED CHARITY NUMBER: XR37652 Re ort of thè Trnstees an Audited Financial Statements for the Year Ended 31 March 2023 for Arnia h Rural Trdn5 ort Ltd WHR Accountants Ltd Chartered Certified Accountants Statutory Auditors 56 English Street Armagh Co. Armagh BT617LG
Arma h Rural Trans ort Lttl Contents of the Financial Statements he Year End d 31 March 2023 Page Report of the Trustees Report of the Independent Auditors Statement of Financial Artivities Balance Sheet Notes to the Financial Statements 7 to 12 Detailed Ststement of Financial Activities 13 to 14
Arma h Rural Trans ort Ltd Re ort of the Trustees for the Year Ended 31 March 2023 The trustees who are also dlrectors 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 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to chartties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Iland IFRS 1021 leffective l January 20191. OBJEcllvES AND AcnvmES Grants The Dirèctors are satisfied that all grants, including the Rural Transport Fund grant. have been used solely for the purposes intended and in accordance with the tem)s and conditions of the grant. STRucfuRE. GOVERNANCE AND MANAGEMENT Goveming document The charity is controlled by its govemlng documenL a deed of trust. and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number N1037744 (Northern Iland} Registered Charity number XR37652 Registered office Office Sutte l- Armagh Business Cent 2 Loughgall Road ARMAGH Co. Armagh BT617NH Trustees Mrsscury Mrs S McRoberts D Moonev E Stewart Mrs 8 Smith S Nicholson D Mcmullen J Clifford Company Secretsry D Mcmullen Auditors WHR Accountants Ltd Chartered Certified Accountsnts Statutory Auditors 56 English Street Armagh Co. Armagh BT617LG sTATEmETr OFTRUSTEES. RESPONSIBIUTIES The trustees (who are also the directors of Armagh Rural Transport Ltd for the purposes of company lawl are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and Unitsd Kingdom Accounting Stsndards (United Kingdom Generally Accepted Accounting Prattl1. Page I
Arma h Rural Trans ort Ltd Re ort of the Trustees for the Year Ended 31 March 2023 STATEMENT OFTRUSTEES. RESPONSIBILITIES- continued Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable compafty and of the incoming resources and application of resources. including the income and expenditure, of the charitable company forthat period. In preparing those financial statements, the trustees are required to select suitable accounting policies and then apply them tonsistently; obseNe the methods and principles in the Charity SORP. make judgements and estimates that are reasonable and prudent,. prepare the financial statements on the going concern basis unless it is Inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records which disclose wtth reasonable accuracy at any time the financial posstion of the charitable company and to enable them to ensure that the financial statements comply with the Cornpanies Act 2006. They are also responsible for safeguarding the assets of the charitable Company and hence for taking reasonable step5 forthe prevention and detection of fraud and other irregularities. In so far as the trustees are awa.. there is no relevant audit information of whith the charitable company's auditors are unaware- and the trustees have tsken all steps that they ought to have taken to make themselves aware of any relevant audit information and to estsblish that the auditors are awa of that infom)ation. AUDITORS The auditors, WHR Accountants Ltd, will be proposed for re-appohntment at the forthcoming Annual General Meeting. Approved by order of the board of trustees on 14 June 2023 and signed on its behalf by: D Mcmullen- Secretsry Page 2
Re ort of the Ind endent Auditors to the Members of Arma h Rural Tran5 ort Ltd Oplnion We have audtted the financial ststements of Arniagh Rural Transport Ltd (the 'charitable companVI for the year ended 31 March 2023 which comprise the Statement of Financial Artivities. the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Stsndards Iunited Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a true and fair view of the state of the charTtable company's affair5 as at 31 March 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended- have beèn properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been preparetl in accordance with the reqU1MentS of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Stsndards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those stsndards are further described in the Auditors, responsibilities for the audit of the financial statements sertion of our report. We are independent of the charitable company in accordance with the ethical quirementS that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethital Stsndard, and we have fulfilled our other ethical responsibilities in accordante with these quireMents. We believe that the audit evidence we have obtsined 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 trLtstees' use of the going concern basts of accounting in the preparation 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 that, individually or collectively. may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least tsvelve months from when the financial statements are authorised for issue. Our responsibilitie5 and the responsibilities of the trustees with respect to going concem are described in the relevant sections of this report. Other information The trustees are responsible for the other information. The other infom)ation comprises the infom)ation included in the Annual Report. other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other information and, except to the extent othenKise explicitly stated in our report. we do not express any form of assurance conclusion theOn. In tonnertion with our audit of the financial statements, our responsibility is to read the other inforniation and, in doing so, consider whether the other information is materially inconsistent with the financial ststements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identrfy such material inconsistencies or apparent material misstatements, we are required to determine 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 infomiation, we a required to report that fact. We have nothing to report in this regard. Opinions M other matters presLTibed by the Companles Att 2006 In our opinion. based on the work undertaken in the course of the audit.. the information given in the Report of the Trustees for the financial year for which the financial ststements are prepared is consistent with the financial 5tstements; and the Report of the Trustees has been prepared in accordance with applicable legal requirements. Matters on whith we are required to report by exception In the light of the knowledge and understanding of the charitable company and tts environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees. We have nothing to report in respect of the following matters Whe the Companies Act 2006 requires u5 to report to you rf, i n our opinion: adequate accounting records have not been kept or turnS adequate for our audit have not been received from branches not V151ted by us- or the financial statements are not in agreement with the accounting records and returns,. or certain disclosures of trustees, remuneration specified by law are not made; or we have not received all the information and explanations we require for our audit; or the tnjstees were not entitled to take advantage of the small companles exemption from the requirement to prepare Strategic Report or in preparing the Report of the Trustees. Pa8e 3
Re ort of the Inde Am)a h Rural Trans ndent Auditors to the Members of ort Ltd Responsibllities of trustee5 As explained more fully in the Statement of Trustee5' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosin& as applicable. matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitsble company or to cease operations, or have no realistic alternative but to do so. Our responsibilities for the audit of the financial statements Our objettives are to obtain asonable assurance about whether the financial statements as a whole a free from material misststement, whether due to fraud or error. and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in actordance with ISAS IUKI will always detect a material misststement when it exists. Misstatements can arise from fraud or error and are considerèd material if, individually or in the aggregate, they could reasonably be expected to influence the economsc decisions of users taken on the basis of these financial statements. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at wwW.frc.org.uVauditorssp0n5ibIIttie5. This destription forms part of our Report of the Inilependent Auditors. Use of our rewt This port is made solely to the charitable company'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 charitable company's members those matters we are required to state to them in an auditors, report and for no other purpose. To the fijllest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body. for our audtt work, for this repor¢ or for the opinions we have formed. Robinson F CA Isenior Statutory Auditor) for and on behalf of WHR Accountants Ltd Chartered Certified Accountsnts Statutory Auditors 56 English stet Armagh Co. Armagh BT617LG 14 June 2023 Page 4
Arma h Rural Trans ort Ltd Statement of Financial Activities for the Year Ended 31 March 2023 31.3.23 Total funds 31.3.22 Totsl funds Unrestricted fund Restricted fund Designated Notes INCOME AND ENDOWMENTS FROM Donations and legacies 6,428 94,764 101,192 102,874 Othertrading activities Investment income Other income 19,285 96 89,873 109,158 936 996 124,241 840 996 6,102 Total 25,809 185,633 212,282 233,897 EXPENDITURE ON Raising funds 6,432 227.253 233,685 239,339 Charitable artNlties GRANT 47 47 2,783 Other 1,516 1,516 Total 6,479 228,769 235.248 242,122 NET INCOMElIEXPENDuREl 19,330 143,1361 122,9661 18,2251 RECONCILIATION OF FUNDS Total funds brought fo¥ward 35,136 10.227 96,077 141,440 149.665 TOTAL FUNDS CARRIED FORWARD 54,466 132,9091 96.917 118,474 141,440 The notes form part of these financial statements Page 5
Arma h Rural Trans ort Ltd Balance Sheet l March 2023 31.3.23 Total funds 31.3.22 Totsl funds Unrestricteil fund estrirted fund Designated Notes FIXED ASSETS Tangible assets 1.048 63,624 64,672 175,737 CURRENT ASSETS Debtors Cash at bank and in hand io 10.761 50,804 11,417 10.635 22.178 209,110 63,413 193.182 147.671 61,565 22,052 147,671 231,288 256,595 CREDITORS Amounts falling due within one year 11 18,1471 135,2781 150.7541 194,1791 1113,8451 NET CURRENf ASSErs 53,418 113,2261 96,917 137,109 142,750 TOTAL ASSETS LESS CURRENT LIABILITIES 54.466 50,398 96.917 201,781 318,487 ACCRUALSAND DEFERRED INCOME 13 183,3071 183,3071 1177,0471 ASSErs 54,466 132,9091 96.917 118,474 141,440 FUNDS Unrestritted funds Restricted funds 14 54.466 64.008 35,136 106,304 TOTAL FUNDS 118,474 141.440 These financial statements have been prepared in accordance with the provisions applicable to charrtable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 14 June 2023 and were signed on its behalf by: D Mooney- Trustee '- ikr The notes form part of these financial statements Page 6
Arma hRur l Trans ortL Notes to the Financial Statements for the Year Ended 31 March 2023 ADDITIONAL AUDITORS REPORT NOTE In our opinion The Rural Transport Fund grant has been used solely for the purposes intended and in accordance with the tern)s and conditions of the grant. ACCOUNTING POLICIES Basis of preparing the financial 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 IFRS 1021 'A¢counting 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 IFRS 1021 (effective l January 20191,, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Art 2006. The financial ststements have been prepareil under the historical cost convention. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the fvnd5, it is probable that the income will be received and the amount can be measured reliablv. Expenditure Liabilitie5 are recognised as expendtture as soon as there is a legal or conrtructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they h3ve been allocated to activities on a basis consistent with the use of resoUrs. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over rts estimated useful lrfe. FiXtuS and fittings Minibus Car Equipment 25% on reducing balance 25% on reducing balance 25% on reducing balan Taxation The charity is exempt from corporatioft tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordan with the charitable objectives at 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. Further explanation of the nature and purpose of each fund is included in the note5 to the financial ststements. Pension costs and other post-retirement benefrts The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. OThER TRADING AcrivmES 31.3.23 Total funds 31.3.22 Totsl fvnds Unrestricted funds Restricted funds DATS Group Hire ARTS DAL- Fare5 and membership Membership fees DAT>lncome from fare Dfi Covid Relief funding 46,920 46,920 18.457 28,118 12,668 830 2.165 46,920 7,477 24,995 10,115 560 3,073 31.101 18,455 28,118 12,668 830 2.165 Carried forward 19.285 89,873 109.158 124,241 Page 7 continued...
Arma h Rural Tran ort Ltd Notes to the Financial Statement5- continued for the Year En ed 31 March 2023 OTHER TRADING ACTIVITIES- continued 31.3.23 Totsl funds 31.3.22 Total funds Unrestricted funds Restricted funds Brought forward 19,285 89,873 109,158 124,241 19,285 89,873 109,158 124,241 INVESThIENT INCOME 31.3.23 Total nds 31.3.22 Total funds Unrestricted funds Restricted funds Bank account interest 96 840 936 680 NEf INCOMEIIEXPENDITUREI Net incomellexpenditurel is ststed after chargin{CredItingl= 31.3.23 31.3.22 Auditors, remuneration Depreciation- owned assets Surplus on disposal of fixed assets 1,563 17,797 19961 2,783 12.390 TRUSTEES. REMUNERATION AND BENEFITS The were no trustees, remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022. Trustees, expenses Travel expenses totslling £470 were paid to Trustees. STAFF Cosrs The average monthly number of employees during the year was as follows.. 31.3.23 31.3.22 Administration Staff Drivers io li No employees received emoluments in exce55 of £60,000. Page 8 continued...
Arma h Rural Trans ort Ltd Notes to the Financial Statements- continued for the Year Ended 31 March 2023 COMPARATIVES FOR THE sfATEMENT OF FINANCIAL A1VITIEs Unrestrirted fijnd Restrirted fund Total hjnds Designated INCOME AND ENDOWMENTS FROM Donations and legacies 102,874 102,874 Other trading activities Investment income Other income 8,037 24 141 116,204 124,241 656 6,106 6,102 Total 8,057 225,184 656 233,897 EXPENDITURE ON Raising funds 7,313 232,026 239,339 Charitable artwtties GRANT 2.699 2,783 Total 7,397 234.725 242,122 INCOME/IEXPENDITUREI 660 19,5411 656 18,2251 RECONaLIATION OF FUNDS Total funds brought forward 34,476 19.768 95,421 149,665 TOTAL FUNDS CARRIED FORWARD 35.136 10,227 96.077 141,440 TANGIBLE FIXED ASS5 Fixtures and fittings Car Equipment Minibus Totals COST At l April 2022 Disposals 39,832 252.915 197,1891 399 293,146 197,1891 At 31 March 2023 39,832 155,726 399 195,957 DEPRECIATION At l Apr¢1 2022 Charge for year Eliminated on disposal 24,410 2.891 92,600 14,9D6 13,9211 399 117,409 17,797 13,9211 At 31 March 2023 27,301 103,585 399 131,285 NET BOOK VALUE At 31 March 2023 12.531 52,141 64.672 At 31 March 2022 15,422 160,315 175,737 Page 9 Continued...
Arma h Rural Trans ort Ltd Notes to the Financial Statements- continued for the Year Ended 31 March 2023 io. DEBTORS: Amouwfs FALLING DUE WITHIN ONE YEAR 31.3.23 31.3.22 Trade debtors RTF Funding due Duefrom ARTS DATS Due from ABC Council Due from D of I VAT Prepayments 4.094 1,533 7.897 2,365 3,910 7,571 19,123 16,638 4,376 2,562 7,820 2,860 4,842 22,178 63,413 ii. CREDITORS: AMouTrifs FALLING DUE WITHIN ONE YEAR 31.3.23 31.3.22 Bank loans and overdrafts (see note 121 Trade creditors VAT Accrued expenses 86,384 2,409 2,508 2,878 89.538 3,382 20,925 94.179 113,845 12. LOANS An analysis of the maturity of loans is given below.. 31.3.23 31.3.22 Amounts falling due within one year on demand-. Bank overdrafts 86,384 89,538 13. ACCRUALS AND DEFERRED INCOME 31.3.23 31.3.22 Capital Grant Reteived 83,307 177,047 14. MOVEMENT IN FUNDS Net movement in funds At 31.3.23 At 1.4.22 Unrestricted funds General fund 35.136 19,330 54.466 Restricted funds Restricted Designated 10,227 96.077 143,1361 132,9091 96,917 106,304 142.2961 64,008 TOTAL FUNDS 141,440 122.9661 118,474 Page 10 continued...
Arma h Rural Trans ort Ltd Note5 to the Financial Statements- continued for the Year Ended 31 March 2023 14. MOVEMENT IN FUNDS- continued Net movement in funds, included in the above are as follows: Incoming sources Resources expended Movement in funds Unrestricted funds General fund 25.809 16,4791 19.330 Restrirted funds Restricted Designated 185,633 1228,7691 143,1361 186,473 1228,7691 142.2961 TOTAL FUNDS 212,282 1235.2481 122,9661 Comparatives for rnovement in funds Net movement in funds At 31.3.22 At 1.4.21 Unrestricted funds General fund 34,476 660 35.136 Restricted funds Restritted Designated 19,768 95,421 19,5411 656 10,227 96,077 115,189 18.8851 106,304 TOTAL FUNDS 149,665 18,2251 141,440 Comparative net movement in fvnds. included in the above a as follows= Incoming resources Resources expended Movement in funds Unrestricted funds General fund 8,057 17.3971 660 Restritted funds Restricted Designated 225,184 656 1234,7251 19,5411 656 225,840 1234,7251 18.8851 TOTAL FUNDS 233.897 1242,1221 18,2251 Page 11 continued..
Amia h Rural Trans Ltd Notes to the Financial Statements- continued for the Year Ended 31 March 2023 14. MOVEMENT IN FUNDS- continued A current year 12 months and prior year 12 months tombined position is as follows.. Net movement in funds At 31.3.23 At 1.4.21 Unrestrlrted funds General fund 34,476 19.990 54.466 Restritted fvnds Restricted Designated 19,768 95,421 152,6771 1,496 132,9091 96,917 115.189 151,1811 64,008 TOTAL FUNDS 149,665 131,1911 118,474 A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: Incoming resourtes Resources expended Movement in funds Unrestricted fvnds General fund 33,866 113,8761 19,990 Re5trirted funds Restricted Designated 410.817 1.496 1463,4941 152,6771 1.496 412,313 1463,4941 151,1811 TOTAL FUNDS 446,179 1477,3701 131,1911 15. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2023. Page 12
Arma h Rural Trarss ort Ltd Detsiled Statement of Financial Activities for the Year Ended 31 March 2023 31.3.23 31.3.22 INCOME AND ENDOWMENTS Donations and legacies Donations Grants 6,428 94,764 102,874 101,192 102,874 Other tradlng activiknes DATS Group Hire ARTS DAL- Fares and membership Membership fees DATS-Income from fare Dfi Covid Relief funding 46,920 18,457 28,118 12,668 830 2,165 46,920 7,477 24.995 10.115 560 3,073 31,101 109,158 124.241 Investment income Bank account interest 936 680 Other income Gain on sale of tangible fixed 355ets Job Retention Scheme 996 6,102 996 6.102 Total incoming resources 212,282 233,897 EXPENDITURE Raising donations and legacies Drivers Wages Volunteer expenses Fuel & Motor Repairs DeprecÉation of Minibus 71.341 8,297 34,630 14,907 68,512 9,012 24,263 8,534 129.175 110,321 Other trading activitles Wages Pensions Bad debt5 Light and Heat Printing & Stationery Telephone Travel & Excess milage General Expenses Rent InSUran- Office and Vehicle Training Bank fees Subscriptions Carried forward 60.598 8,199 61 1,586 979 1,759 491 1,065 5,873 6,896 396 801 575 89,279 62,372 5,975 169 1,442 2,172 4,660 131 1.977 5.040 6,953 2,943 544 254 94,632 This page does notform part of the statutory financial statements Page 13
Arma h Rural Trans ort Ltd Detailed Ststement of Financial Activitles for the Year Ended 31 March 2023 31.3.23 31.3.22 Other tradlng activities Brought forward Catering Recruitment Costs Depreciation-office Equipment Advertlsing SOare OfFice maintenance HR Support BHSF Cash Plan Well Being Day 89,279 1,246 481 2,892 654 4,868 2.240 1,420 1,430 94,632 3,868 592 3.856 4,887 4,042 8,877 1,821 1,501 4,942 104,SlO 129,018 Support costs Governance costs Auditors, remuneration 1,563 2,783 Total resources expended 235,248 242,122 Net expen(rrture 122,9661 18,2251 This page does not fom) part of the statutory financial statements Page 14