Company Registration Number- N1038364 Charlty Number.. NIC103505 Down Armagh Rural Transport Partnership {A Company limited by guarant99, not havlng a sham capital) Annual Report and Audited Financial Ststsments for the financial year ended 31 March 2024 Daly Park & Company Ltd Chartered Accountants and Statutory Audltors 4 Carnegle Street Lurgan Co. Annagh BT66 6AS Northern Ireland
Down Armagh Rural Transport Partnership IA company limitèd by guarantee. not having a sharè capitsl} CONTENTS Page Trustees, and Other Information Trustees. Annual Report Statement of Trustees, Responsibilities Independent Auditols Report 8-10 ststement of Financial Activities Balance Sheet 12 Notes to the Financial Statements 13-18
Down Armagh Rural Transport Partnership IA company limited by guarantee, not havlng a sharè capital) TRUSTEES. AND OTHER INFORMATION Trustegs John Spiers John Magennis Robert John Verner John Kane Alan Gilmore Charity Number in Northern Ireland NIC103505 Company Registration Number N1038364 Registered Office and Prlnclpal Address 10 charStoWn Avenue Portadown Co. Amiagh BT63 5ZF Northern Ireland Auditors Daly Park & Company Ltd Chartered Accountants and Statutory Auditors 4 Carnegie Street Lurgan Co. Amiagh BT66 6AS Northem Ireland Principal Bankers Danske Bank 39 Market St Lurgan Co. Amiagh BT66 6AB Northern Ireland
Down Armagh Rural Transport Partnership IA company Ilmlted 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 ststemen15 are prepared in accordance 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 finanaal slalemenls in accordance with the Financial Reporting Standard applicable in the UK and Republie of Ireland IFRS 1021. The Trustees. Report contains the infomation required to be provided in the Trustees, Annual Report under the Statement of Recommended Practice {SORPI guidelines. The trustees of the company are also charity trustees for the purpose of charity law and under the company's constitution are known as members of the board of Iruslees. In this report the trustees of Down Amagh Rural Transport Partnership present 8 summary of ils purpose, govemance. aclivilies. achievements and fInanS for the financial year 31 Mar¢h 2024. The company is a registered charity and hen the report and results are presented in a fom which cornplies with the requirements of the Companies Act 2006 and, although not obliged to comply with the Slalemenl of Recommended Practi (Charities SORP effective January 20151, the organisation has implemented ts recommendations where relevant in these financial statements. Mission. Objectives and Strategy Alms & Objectives Down Armagh Rural Transport IDARTI provtdes affordable, accessible. eommunity transport services in response to the needs of people living in the Craigavon and Banbridge area. DART secures grants and donations to support provision of subsidized transport for beneficiar$. DART deliver services using community minibuses and volunteerfs cars. DART provides infornalion and advice lo enable people to avail of various means of travel to enable access to local servtces. DART works in partnership with other transport providers lo ensure alternatives and linkages lo other transport serVIS are available for individuals and community organisations. Structure, Governance and Managgment Structure Governin Document Down Armagh Rural Transport Partnership is a company limited by guarantee governed by its Memorandum and Articles of Association. In the event of the charity being wound up. the liability in the respect of the guarantee is limited to £1 per member of the charity. The company is under the control of the directors who are, therefore, acting trustees for the charity. ointment of actin Trustees l Directors As described in the Articles ofAssociation a new director may be eligible for appointment if 21 days before the annual general meeting. written noti is deposited with the registered office of the intended proposal, signed by a member and signed by the person being proposed, so as lo indicate hisl her willingness to be elected. Trustee Induction and Trainin New trustees are brtefed on their legal obligation under charity and company law. the eontent of the Memorandum and Articles of Association. the Board and decision-making processes and recent financial performance of the charity. Trustees are encouraged lo vvèw the Charities Commission website so as lo gain a full understanding of Iruslee roles and sPOnsIbl11t1e5. Roviow of Activities. Achlevements and Performance The accounting year has On again been marked by ongoing uncertainty surrounding the stability of public finances, leading to a precarious 511ualion that has pul the continuance of publicly fvnded community transport at risk across Northern Ireland. This environment of short-temi and discretionary publie funding cycles continues lo negatively impact community transport services for vulnerable users through a policy of managed decline. charaeterized by a discretionary approach lo services and the perpetual salami slicing of budgets. Since 2018. DART has experienced 8 35% real-tem reduction in fvnding. Despite this ¢Jedine, there has been an increase in demand, accompanied by significant rises in business and operational costs for providing services lo users of Dial-A-Lift {DAL} and Disability Action Transport SeNice {DATSI. In response to these pressures, DART has focused on cost reduction and accelerating the digilalization of services to reduee back-offi¢e expenses. During the last accounting period, DART Mpleted approximately 25,000 trips, despite significant OFeralional reductions in
Down Armagh Rural Transport Partnership IA company Ilmltèd by guarnnteÈ. not having a share capltal) TRUSTEES. ANNUAL REPORT for the financial year ended 31 March 2024 seNiees due to annual DFI cuts. In the 202312024 pericxj, DART has priorilized non-DFI services as a strategic imperative to de-risk the organizalion and transition towards a community development hub model for future sustsinability. The Motability-funded Aece$s Plus project had a successful first year, delivering 1.288 highly spectalized individual trips for disabled children, enabling greater partieipalion in school extracurricular activities and broader access lo health and social events for disabled individuals. The accounting year has also seen significant planning for future projeels, with major applications and partnerships in the pipeline for 2025. A preview of the direelion of travel for DART'S future seNices was evident in the successful launch of DART'S 'Drive to Thrive, project. an innovative employability and volunteering scheme providing professional D1 training in exchange for 100 hours of volunteering lime. Volunteers drive a social car for individuals with limited access lo essential services. DART'S commitrnent lo innovation is further demonstrated through ils ongoing investment in digital infraslruclure. By embracing modem technology, DART aims to streamline operations. enhance service delivery. and improve user experience. This digitsl transformation is not only about reducing costs but also about making services more accessible and user-friendly, thereby meeting the evolving needs of the community. Moreover. DART has been activety seeking collaborations with local stakeholders in health and education and other non-profit organizations to diversify funding sources and expand service offerings. These partnerships are crucial for creating a resilient operational model that can withstand financial uneertainb'es and continue to provide essential Services lo those in need. As DART refleels on another successful year of project delivery, il is elear that innovation, flexibility, and change will remain constants moving into 202412025. The organizalion's ability lo adapt and evolve in response to challenges is a leslament lo its resilience and dedication to serving the community. After all. the best way to predict the future is to create it. Financial Rgview The results for the financial year are sel out on page 1 and additional notes are provided showing income and expenditure in greater detail. Financial Results At the end of the financial year the company has assets of £652.371 {2023 £779,923) and liabilities of £18.268 12023- £245,590). The net assets of the company have increased by £99.770. Reservès Policy The Reserves policy was updated in the prior year and has been kept the same in the current year by the trustees. A new free reserves largel of £232,000. equivalent lo six months running costs. has been agreed. The capital replacement reserve target is still £280,000. which the trustees feel would be sufficient for the replacement of fleet vehicles and aceessible equipment as they reach the end of their natUTal life cycle. The eontingency reserve was increased lo £70,000. which trustees feel would be sufficient to cover their regular expenditure in the event of an unexpected event. The Trustees feel that these kvels of reserves are essential lo enable the Charity to continue lo provide its activities for the foreseeable fvre. The Reserves Policy is an Integral part of the charity's planning, budget and forecasts. Tru$teo$ The trustees who served throughout the ffnancial year. except as noted. were as follows: John Spiers John Magenni$ Robert John Verner John Kane Alan Gilmore In accordan with the Articles of Association, the directors retire by rotation and being eligible. offer themselves for reelection.
Down Armagh Rural Transport Partnership IA company Ilmlted by guarantee, nol having a share pIts1) TRUSTEES. ANNUAL REPORT for the financial year ended 31 March 2024 Compliance with Sector-wide Legislation and Standards The company engages pro-actively with legislation. standards and codes which are developed for the sector. Down Amagh Rural Transport Partnership subscribes to and is compliant with the following.. The Companies Act 2006 The Charities SORP {FRS 102) Public Benefit In setting our objectives and planning our activities for the year the trustees have given careful consideration to the Charity Commission for Northem Ireland's guidance on public benefit to ensure that the activities have helped achieve the charity purposes and provide a benefit to the beneficiaries. Down Arnagh Rural Transport (DART) Partnership exists to develop. deliver and maintain not-for-profit a¢sSIble community transport options for the public benefit of our members. Our public benefft provided through our transport seNices reduces social isolation and social exclusion by reaching the hard to reach and providing access to essential services and connections to the wider community. Our services improve the quality of lrfe and health and well-being for our users by enabling access to health and medical facilities. DARTS services also target social need by facilitating access to training and employment opportunities for our members. Our organisation is committed to community development principles and we work in close partnership wrth other organisations and charities engaged in promoting the relief of persons who are in need through the provision of appropriate services. Other direct benefits include the promotion of volunteering and training which provides public benefit to groups and communities and the provision of accredited driver training which nhanS the skills and personal development of community volunteers. Certification Statement We confimi that the DFI grant has been used solely for the purposes intended and in accordance with the temis and conditions of the grant The Auditors The auditors. Daly Park & Company Ltd, (Chartered Accountants) have indicated their willingness to continue in office in accordance with the provision5 of Section 485 of the Companies Act 2006. Approved by the Board of Trustses on 26th June 2024 and signed on its behalf by". John Spiers Director hn Magen Director is
Down Arniagh Rural Transport Partnership (A company limited by guarantee. not having a share capital} STATEMENT OF TRUSTEES. RESPONSIBILITIES for the financial year ended 31 March 2024 The trustees. who are also directors of Down Amiagh Rural Transport Partnership for the purposes of company law. are responsible for preparing the financial statements in accordan with applicable law and regulations. Company law requires the trustees as the directors to prepare financial statements fr)r each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Untted Kingdom Accounting Standards and applicable law} including FRS102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Under company law the trustees must 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 net income or expenditure 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 Chartties SORP make judgements and accounting estimates that are reasonable and prudent" state whether the financial statements have been prepared in accordan wilh applicable accounting standards, identify those standards, and note the effect and the reasons for any material departure from those standards,. and prepare the financial ststements on the going concern basis unless it is inappropriate to presume that the company will continue in operation. The tnjstees are responsible for keeping adequate accounting records that aro sufficient to show and explain the CoMpanS transactions and disclose with reasonable accuracy at any time the financial position of the company 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 company and hence for tsking reasonable steps for the prevention and detection of fraud and other iegUlar1ties. In so far as the tTUStees are aware: there is no relevant audit information (infomation needed by the company's auditor in connection wth preparing the audttorfs report) of which the company's auditor is unaware, and the trustees have taken all the steps that they ought to have tsken as trustees in order to make themselves aware of any relevant audit information and to establish that the companls auditor is aware of that infomation. Approved by the Board of Trustees on 26th June 2024 and slgned on its behalf by.. John Spiers Director ohn Ma Director nls
INDEPENDENT AUDITOR'S REPORT to the Members of Down Armagh Rural Transport Partnership IA company limltsd by guarantȕ. not having a share capitall Report on thg audit of the financial statements Opinion We have audited the company financial statements of Down Amagh Rural Transport Partnership I'lhe company'l for the financial year ended 31 March 2024 which comprise the Statement of Financial Activities {incorporating an Income and Expenditure Aecounti. the Balance Sheet and notes lo the financial statements, including the summary of 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 Stsndards. including 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 lo charitie$ 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 slate of the company's affairs as at 31 March 2024 and of its surplus for the financial year then ended- have been properly prepared in accordance with United Kingdom Generally Accepted Aecounling Practice.. and have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act (Northern Ireland) 2008. Basis for opinion We conducted our audit in accordance with Inlemalional Stsndards on Auditing IUKI IISAS IUKI) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with ethical requirements that are relevant to our audit of the financial slalements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidenee 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 trustees, use of the going concem basis of accounting in the preparation of the financial slalements is appropriate. Based on the work we have perfomied, we have not identified any material uncertainties relating to events or conditions that. indivKlually or collectively. may east significant doubt on the company's ability lo continue as a going concern for a period of at least e1ve months from the dale when the financial stslements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant secb.ons of this report. other Information The other infomiation comprises the infomiation included in the annual report other than the financial stslemenls and our Audilorfs Report Ihereon. 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 infomation and. except to the extent otherwise explicitly slated in our report, we do not express any fomi of assurance conclusion Ihereon. Our responsibility is to read the other infomialion and. in doing so. Consider whether the other inforniab'on is materially incon51slent with the financial statements or our knowledge obtained in the course of the audit. or otheiSe appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we a required lo determine whether this gives rise to a material misstalemenl in the financial slalemenls themselves. If. based on the work we have performed. we conclude that there is a material misststemenl of this other infomation. we are required to pOrt that fact. Vve have nothing to report in this regard. Opinion on other matter prescrlbed by the Companies Aet 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 statements are prepared is consistent with the financial slatemenls.. and the Trustees. Annual Report has been prepared in accordance with applicable legal requirements.
INDEPENDENT AUDITOR'S REPORT to the Members of Down Armagh Rural Transport Partnership IA company limited by guaranteg, not having a share capital) Matters on which we are requlred to report by exception In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees, Annual Report. We have nothing lo report in respect of the following matters where the Companies Act 2006 requires us lo report to you if. in our opinion.. adequate accounting records have not been kept., or the financial slalemenls are not in agreement with the accounting records and returns.. or certain disclosures of trustees, remuneration specified by law are not made.. or the trustees were not entitled lo prepare the financial ststemenls in accordanee with the small companies regime and lake advantage of the small companies, exemption in preparing the Trustees, Annual Report. Responslbllitles of tru$tegs for the financial statements As explained more fully in the Statement of Trustees. Responsibilities set out on page 6. the trustees are responsible for the preparation of the financial slalements and for being satisfied that they give a true and fair view. and for such internal control as they determine is neSSary lo 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 company's ability lo continue as a going COnrn, disclosing. as applicable. matters related lo going coneern and using the going concern basis of accounting unless management either intends to liquidate the company or lo cease operations, or has no realistic alternative but to do so. Auditorfs responsibilities for the audit of the financial ststements Our objectives are lo obtain reasonable assurance about whether the financlal slalements 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 assuran is a high level of assurance. bul is not a guarantee that an audit conducted in aecoidance with ISAS IUKI will always delecl a material misstatement when il exists. Misslalements can arise from fraud or error and are considered material if, individually or in the aggregate. they could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities. outlined above, to detect material misslalemenls in respect of irregularities, including fraud. The extent to which our prOdureS are capable of detecting irregularities. including fraud is detailed below.. There is an inherent difficulty in detecting irregularities during audit. However the effectiveness of entity's controls, the nature and extent of audit procedures performed. gives us confidence in detecting irregularities Further infonnation regarding the scope of our responsibilities as auditor As part of an audit in accordance with ISAS IUKI. we exercise professional judgement and maintain professional sceplicism throughout the audit. We also.. Identify and assess the risks of material misstatement of the whether due lo fraud or error. design and perfomi audit procedures responsive to those risks, and obtsin audit evidence that is sufficient and appropriate lo provide basis for our opinion. The risk of not detecb'ng 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 internal control. Obtain an understsnding of internal control relevant to the audit in order to design audit protsdures that ale appropriate in the circumstances. but not for the purpose of expressing an opinion on the effectiveness of the company's internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of a¢¢ounting estimates and related disclosures made by trustees. Conclude on the appropriateness of the trustees, use of the going ¢on¢em basis of accounting and, based on the audit emdence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Audilorfs Report to the related disclosures in the financial statements or. if such discloslrres are inadequate. lo modify our opinion. Our conclusions are based on the audit evidence obtsined up to the date of our Auditor's Report However. futUTe events or conditions may cause the the company to cease to continue as a going concern. Evaluate the overall presentation. structure and ¢onlent of the finan¢ial statements. including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentstion.
INDEPENDENT AUDITOR'S REPORT to the Members of Down Armagh Rural Transport Partnership IA company limited by guarantee, not having a $hare capital) We communicate with Ih05e charged with governance regarding. among other matters, the planned scope and timing of the audit and $ignifi¢anl audit findings, including any significant deficiencies in internal control that we identify during our audit. The purpo$e of our audit work and to whom we owe our responsibilities This report is made solely to the 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 slate lo the company's members those matters we are required to stale lo them in an audilols report and for no other purpose. To the fullest exlenl permitted by law. we do not aetspt or assume responsibility to anyone other than the company and the company's members as a body. for our audit work. for this report, or for the opinions we have fomied. Ruairi Maginn Isgnior for and on behalf of DALY PARK & COMP LTD Chartered Accountants and Slatulory Auditors 4 Carnegie Street Lurgan Co. Armagh BT66 6AS Northern Ireland utory Audltor) 26th June 2024 10
Down Amagh Rural Transport Partnership (Acompany Ilmllod by guaTrnlee, not havlng a Sha capltall STATEMENT OF FINANCIAL ACTIVITIES Iln¢ory¢Jtslrtgtt IncoM&ndE¥pgndJtureA¢¢ourt} forlhe finanual year ended 31 March 2024 Oth$r DFI nrestrlctèd h5trlctèd R¢strfcled Funds Fund$ Fnrfs 2024 2024 2024 Total Unrestricted Fund$ Fund$ Oth8r DFIToi81 Funds Resirict8d Resthded Fund$ Funds 2023 2023 2024 2023 2023 Nots$ Incomlng R•$our¢è8 Voluntsry Income A¢iiMlies for 9ènerabng funds Invtstrnenls 16,TT$ 14,75 729 292,367 541,196 850,338 14.758 72 113,3 270,466 384.319 6.746 77 8,746 77 Total Incomlng Msourcats 32,263 291J67 541.195 865.82S 8.823 113.853 270,466 393.142 R•soufGe5 Expended ¢haritable actreS 14,725 210.135 S41,19S Y66.055 BO.294 96,520 288.400 465,214 Net Incomlngloutgoln9 rgsouY¢es b•fore tran8f• 17.538 82,232 99.TTO 171.4711 17.333 117.9341 172.0721 Gr055 Itansfers behveen frJnd$ 108.744 1108.7441 N•tmo¥oment In funds forth• finartclal yoar 128.282 126.$121 99.770 17.333 117.9341 172,0721 Rpconclllatlots of funds.. T¢lal funds begSnning ofth8 year 14 451.492 12.441 534.333 522.963 85508 17.934 806,405 Totsi funds atth8 ènd of the ygar 577.774 56,329 624,103 451,492 82,841 534.333 The Slatsrnenl of Financial ActilieS Include5 811 galns and losses r8¢ognised in the fin8n¢i81 year. The noies on pag¢¥ 13 10 l8t¢m p*t of LbB finanlial $eMentS 11
Down Armagh Rural Transport Partnership (A company limltsd by guarantee, not having a share capital) Company Number: N1038364 BALANCE SHEET as at 31 March 2024 2024 2023 Notes Fixed Assets Tangible assets 64,918 28,132 Current Assets Debtors Cash at bank and in hand 10 94,959 492,494 64.523 687,268 587,453 751.791 Creditors: Amounts falling due within one year Net Current Assets 11 (18.2681 (10.475) 569.185 741,316 Total Assets less Current Liabilities 634,103 769.448 Grants receivable 12 (235,115) Total Net Assets 634103 534,333 Funds Restricted trust funds Designated funds (Unrestricted) General fund (unrestricted) 56,329 350,000 227.774 82,841 297.500 153,992 Total funds 14 634,103 534.333 These financial statements have been prepared in accordance with the special provisions relaling to small companies within Part 15 of the Companies Act 2006. Approved by the Board of Trustses and authorised for issue on 26th June 2024 and signed on its behalf by John SpieTS Director ohn Mag Director is The notes on pages 13 to 18 fOn part of the financial statements 12
Down Armagh Rural Transport Partnership IA company limited by guaranteè, not having a share capital) NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2024 GENERAL INFORMATION Down Armagh Rural Transport Partnership is a company limited by guarantee incorporated in Northem Ireland. The registered office of the company 1$ 10 Charlestown Avenue. Portadown, Co. Amagh. BT63 5ZF. Northern Ireland which is also the principal place of business of the company. The financial slalements have been presented in Pound l£} which is also the functional currency of the company. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following accounting policies have been applied consistently in dealing with Items which are considered material in relation to the charity's financial slalements. Basis of preparatlon The financial slalements have been prepared on the going concern basis under the historical cost convention, modified to include certain items al fair value. The financial statements have been prepared in accordance with the Statement of Recommended Practice ISORP) "Accounting and Reporting by Charities preparing their accounts in aceordance with the Financi81 Reporting Standard applicable in the UK and Republic of Ireland FRS 102" As pemiitted by the Companies Act 20(, the company has varied the standard fom)als in that act for the Slalemenl of Financial Activities and the Balance Sheet. Departures from the standard fomials 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 ffnancial slalements of the company for the financial year ended 31 December 2017 have been prepa on the going concern basis and in accordanee with the Statement of Recommended Practice ISORPI "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" Cash flow statement The company has availed of the exemption in FRS 102 from the requirement lo produ a cash flow statement because it is Classified as a small company. Incoming Resources Voluntary income or capital is included in the Statement of Financial Activities when the company is legally entitled to it. 115 financial value can be quantified with reasonable certainty and there is reasonable certainty of its ultimate receipt. Entittemenl to legacies is considered established when the company has been notified of a distribution lo be made by the executors. Income reIVed in advanee of due performance under a contract is accounted for as deferred income until eamed. Grants for activities are recognised as income when the related conditions for legal entitlement have been met. All other income is accounted for on an aceruals basis. Resources Expended Ail reSouS expended aTe aceounted for on an accruals basis. Charitable activities include costs of services and grants, support costs and depreciation on related assets. Costs of generating funds similarly include fundraising a1Vities. Non-slaff costs not attributed to orte eategory of activity are allocated or apportioned pro-rala to the staffing of the relevant service. Finance. HR. IT and administrative stsff costs are directly attributable lo individual activitS by objectFve. Governance costs are those associated with constitutional and statutory requirements. Tanglble fixed assets and depreciation Tangible fixed assets are stated at cost or at valuation, less accumulated depreciation. The charge lo depreciation is calculated to write off the original cost or valuation of tangible fixed assets. less their eslimaled residual value, over their expected useful lives as follows.. Land and buildings freehold Fixture$, fitbngs and equipment Motor vehicles 4¢A Straight line 500A Straight line 50% Straight line 13
continued Down Armagh Rural Transport Partnership IA company limited by guaranteè, not having a share capltall NOTES TO THE FINANCIAL STATEMENTS for the financral year ended 31 March 2024 Debtors Debtors 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 company from government agencies and other co-funders. but not yel received al financial year end. is included in debtors. Cash at bank and In hand Cash al bank and in hand comprises cash on deposit at banks requiring sS than three months notice of withdrawal. Taxation and deferred taxation No current or deferred tsxation arises as the company has been granted charitable exemption. Irrecoverable valued added tsx is expensed as incurred. 2a. GOING CONCERN Al the dale of approval of these financial statements. the charity has yet to receive fomal ¢onfimiation from the Department of Infrastructure in relation to the 2024125 fvnding for the Rural Transport Fund and Assisted Rural Travel Scheme. This funding amounted lo £538.923 in the 2023124 financial year. In the interim period, the charity is currently receiving monthly grants on a similar level to the funding provided for 2023124. The trustees are confident that a formal letter of offer and agreement of the 2024125 funding package will agreed shortly. In this interim period, the trustees are carefully managing cashflow and are in the process of looking al other sources of income. Delays in the confirmation of these grants have been the nomi in recent years. The trustees continue to prepare the financial slalemenls on a going concern basis. INCOME DONATIONS AND LEGACIES Unrestricted Funds Other DFI Restricted Restricted Funds Funds 2024 2023 Grant Income.. DFI Restricted Income- DRD Rural Transport Fund Assisted Rural Transport S¢heme Disability Action Transport Scheme DFI Bluel Green Infrastructure Dial A Lift Passenger Fare 275.752 76.250 186,921 275.752 76,250 186,921 106,602 32.160 146,879 -17,934 2,759 2,272 2,272 Other Restricted Funds Unreslricled Funds 292,367 292.367 19,976 113.853 16.776 OTHER TRADING ACTIVITIES Unrestricted Restricted Funds Funds 2024 2023 Transport SeNrces & Training 14.758 14,758 8,746 INVESTMENTS Unrestrlcted Restrlcted Funds Funds 2024 2023 Investments 729 729 77 EXPENDITURE 14
continued Down Armagh Rural Transport Partnership IA company Ilmltèd by guarantee, not having a Sha capital) NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 Mar¢h 2024 CHARITABLE ACTIVITIES Diroct Costs Other Costs Support Costs 2024 2023 Despatch Function Costs Direct Service Delivery Costs Administration & Support 162,854 221,075 58.501 8,251 1,088 92.259 171,105 444,190 150.760 144,152 208,696 112,366 222.027 442.430 222,027 101,598 766,055 465.214 ANALYSIS OF SUPPORT COSTS 2024 2023 Audit Fees Depreciation General Expenses Bank Charges General Office Costs 2,500 67,851 4,309 370 26.568 2.600 34.855 4.486 332 31,194 101,598 73,467 NET INCOMING RESOURCES 2024 2023 Net Incomlng Resources are stated after chargingl(crediting): Depreciation of tangible assets Deficit on disposal of tsngible fixed assets Audilorfs remuneration.. audit services 67.851 1.435 34,855 18.085 2.500 2,600 INVESTMENT AND OTHER INCOME 2024 2023 Bank interest 729 77 EMPLOYEES AND REMUNERATION Number of employees The average number of persons employed (including executive trusleesl during the financial year was as follow$- 2024 Number 2023 Number Employees 12 12 The staff costs comprise: 2024 2023 Wages and salaries Pension costs 188,366 4.463 140,354 9.833 192.829 150.187 15
eonlinued Down Armagh Rural Transport Partnership IA company limited by guarantee, not having a share capital) NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2024 TANGIBLE FIXED ASSETS Land and Flxtures, buildings fittings and freehold equipmgnt Motor vehicles Total Cost At 1 April 2023 Additions Disposals 8,500 31,462 14.017 175,332 90.620 17,6671 215,294 104.637 17.667) At 31 March 2024 8.500 45,479 258,285 312.264 Depreciation Al 1 April 2023 Charge for the financial year On disposals 1.700 1,700 26.755 11.716 158,707 54,435 17,6671 187.162 67.851 17,667) Al 31 March 2024 3,400 38,471 205.475 247.346 Net book value At 31 March 2024 5.100 7.008 52.810 64.918 At 31 March 2023 8.800 4,707 16,625 28.132 10. DEBTORS 2024 2023 Trade debloTS Amounts owed by related parties Other debtors Taxation and social security costs 17,677 3.837 67.019 6,426 30.434 3.837 20,827 9.425 94,959 64,523 11. CREDITORS Amounts falling dug Within one year 2024 2023 Taxation and social security costs Aru815 and defrrred income 7,747 10.521 5,219 5.256 18.268 10.475 12. GRANTS RECEIVABLE 2024 2023 Capltal grants received and reeelvable Increase in financial year 235,115 13. RESERVES 2024 2023 At the beginning of the year Surplu51lDefi¢ill for the financial year 534.333 99.770 606.405 172.0721 At the end of the year 634,103 534.333 16
¢ontinued Down Armagh Rural Transport Partnership IA company limited by guarante8. not having a share capital) NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2024 14. FUNDS 14.1 RECONCILIATION OF MOVEMENT IN FUNDS Unrestricted Restricted Funds Funds Total Funds Al 1 April 2022 Movement during the financial year 522.963 171,4711 65.508 17,333 606.405 172,0721 At 31 March 2023 Movement during the financial year 451,492 126,282 82.841 (26.5121 534,333 99.770 At 31 March 2024 577,774 56.329 634.103 14.2 ANALYSIS OF MOVEMENTS ON FUNDS Opening Balance Closlng Balance Income Expendlture Transfers DFI Restricted Funds: DRDRuralTransportFund Assisted Rural Transport Scheme Disability Action Tra nsport &heme Dia l A lift Passener Fares 275,752.00 275,752.00 76,250.00 76,250.00 186,921.00 186.921.00 2,272.00 2,272.00 541,195.00 541,195.00 The National Lottery QJmmunityFund ABCQJuncil Rank Foundation Motabi lity SHSCT 40,919.00 2,181.00 20,162.00 20,667.00 61.586.00 2.181.1KJ 15.615.00 11,777.00 24,000.00 235.115.00 107,398.00 - 108,744.00 18.973.00 19.579.(N) 20,970.00 27,193.00 13.356.00 82,841.00 292,367.00 - 210,135.00 - 108,744.00 56,329.00 Unrestricted Funds: Unrestricted - Capita l Replacement Unrestricted- G)nti ngency Unrestricted Genera I 280.000.00 17,500.00 153,992.00 32,263.00 £151,492.00 3Z263.00 280,000.00 52,500.00 70,000.00 14,725.00 56,244.00 227.774.00 14.725.00 108,744.00 577.774.00 Total Funds 534333.00 865,825.00 . 766,055.00 634100 17
continued Down Armagh Rural Transport Partnership IA company Ilmltèd by guarantee. not having a share capltall NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2024 14.3 ANALYSIS OF NET ASSETS BY FUND Fixed assets harity use Current assets Current Ilabilitles Total DFI Restricted Funds 199,493 598.087 797.580 Other Reslricled fvnds 17,400 126.478 143.878 Unreslricled general funds {151.9751 456.732 (612,112) 1307,3551 64.918 1,181,297 1612.1121 634.103 15. STATUS The company is limited by guarantee not having a share capital. The liability of the members is limited. Every member of the company undertakes lo contribute to the assets of the company in the event of ils being wound up while they are members. or within one year thereafter, for the payment of the debts and liabilities of the company eonlracted 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. such amount as may be required, not exceeding £ 1. 16. POST-BALANCE SHEET EVENTS There have been no Signifint events affecting the Charity since the financial year*nd. 17. TRUSTEE REMUNERATION None of the Trustees reiVed nor waived any remuneration for their servi5 as Trustees in either the current or previous financial year. 18