**Company registration number NI 050839 (Northern Ireland) Registered Charity No. NIC104536**
**SOUTH ANTRIM COMMUNITY TRANSPORT (a company limited by guarantee)**
**ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **SOUTH ANTRIM COMMUNITY TRANSPORT**
## **COMPANY INFORMATION**
**Directors** Mr H Marron Mr T McCarthy Mr R Armour Mrs G Bogle Mr M Farquhar Mr T Clarke Mrs H Hendry Mrs E Bell MBE **Secretary** Mrs E Bell MBE **Company number** NI 050839 **Registered office** Unit 30 Dennison Industrial Estate Avondale Road Ballyclare BT39 9EB **Auditor** David Lyttle & Co Ltd Emerson House 14B Ballynahinch Road Carryduff Belfast BT8 8DN
## **SOUTH ANTRIM COMMUNITY TRANSPORT**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 4|
|Trustees' responsibility statement|5|
|Independent auditor's report|6 - 7|
|Statement of financial activities|8|
|Balance Sheet|9|
|Statement of changes in equity|10|
|Notes to the financial statements|11-15|
|**The following pages do not form part of the statutory financial statements**||
Detailed statement of financial activities
16-18
## **SOUTH ANTRIM COMMUNITY TRANSPORT**
## **TRUSTEE'S REPORT**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors' report of the charitable company for the year ended 31 March 2025.
## **Trustees**
Mr H Marron Mr T McCarthy Mr R Armour Mrs G Bogle Mr M Farquhar Mr T Clarke Mrs H Hendry Mrs E Bell MBE
## **Objectives and activities**
## **Purposes and Aims**
Our charity's purpose as set out in the objects contained in the company's memorandum of association is to: Reduce social isolation by providing a community transport service for such of the inhabitants of South Antrim and its environs ("the area of benefit") who are in need of such a service because of age, sickness or disability (mental or physical), or poverty, or because of a lack of availability of adequate and safe public passenger services, without distinction of sex, race or political, religious or other opinion as set out in Section 75 of the Northern Ireland Act 1988
## **Ensuring our work delivers our aims**
We review our aims, objectives and activities each year. This review looks at what we achieved, and the outcome of our work in the previous 12 months. The review looks at the success of each key activity and the benefits they have brought to those individuals and groups of people we are set up to help. The review also helps us ensure our aim, objectives and activities remained focused on our stated purposes. We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aim and objectives and in planning our future activities.
## **The focus of our work**
Our main objectives for the year continue to be the provision of accessible and affordable transport in the South Antrim area to individuals and groups living in South Antrim and its environs ("the area of benefit"), particularly people with reduced mobility.
## **How our activities deliver public benefit**
Our main activities and who we try to help are described below. All our charitable activities focus on the provision of accessible and affordable transport in the South Antrim area to individuals and groups living in South Antrim and its environs ("the area of benefit"), particularly people with reduced mobility.
## **Who used and benefited from our services**
South Antrim Community Transport is a membership only organisation which provides an affordable, accessible transport service to individuals and groups from within our designated area that have difficulty accessing conventional forms of transport.
## Dial-a-lift service for our individual services.
Community Wheels service, allowing individuals to travel outside the operational area. Group Transport Service
Door-to-Door service on behalf of Disability Action in the urban towns of Antrim and Larne. Motability (to enhance our current Dial-a-lift service), from July 2023.
- 1 -
## **SOUTH ANTRIM COMMUNITY TRANSPORT**
## **TRUSTEE'S REPORT**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
We achieved this with the financial services from Department of Infrastructure (DFI), the Department of Agriculture, Environment and Rural Affairs (DAERA), Disability Action (DA), and The National Lottery Community Fund for Northern Ireland and The Motability Foundation.
During the financial year, we provided these services with the assistance of volunteer drivers who have registered with us to provide transport for our clients. Equal access to our services is an important issue for us. We have monitored access to our services by recording gender, disability, marital status, ethnicity, sexual orientation and religion of our clients. We believe equal access to our services is vital to our success. All information provided by our clients is covered by the Data Protection Act 1988.
## **Financial Review**
Our continued success in the past year has been due to the continued sound financial management and the support of both staff and volunteers. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's 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. They are responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention of fraud and other irregularities. The directors have secured new funding for the year 2025 - 2026 as outlined below.
The directors can confirm the Department for Infrastructure grant has been used solely for the purposes for which it was provided.
## **Principal Funding Sources**
Aside from the income generated by our Group Transport Service provision, the Directors have secured funding from the Department for Infrastructure until March 2026. In addition to this, funding has also been secured from Disability Action, a subsidy from the Department of Agriculture Environment and Rural Affairs (DAERA). We also receive funding from The National Lottery Community Fund for Northern Ireland, and we have a new funding stream from Motability UK from July 2023 to June 2026.
## **Reserves Policy**
The Management Committee has examined the charity's requirements for reserves in light of the main risks to the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be 3 months. These reserves are needed to meet the working capital requirements of the charity and the Management Committee is confident that at this level they would be able to continue the current activities of the charity in the event of a significant drop in funding.
The reserves required in March 2025 are £285,477. Our net assets on 31st March 2025 are £551,877.
## **Financial Review**
South Antrim Community Transport aims to continue providing an affordable, accessible transport service to individuals and groups from the South Antrim area and its environs ("the area of benefit") that have difficulty accessing conventional forms of transport.
To achieve these aims we propose the following goals in order to adapt our services to meet the changes that challenge us all, while continuing to provide a valuable service to our current members.
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## **SOUTH ANTRIM COMMUNITY TRANSPORT**
## **TRUSTEE'S REPORT**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
For the year April 2025 to March 2026 South Antrim Community Transport will again provide a Dial-A-Lift service on behalf of the DFI and DAERA through the smart pass scheme. The Community wheels project is funded by the National Lottery until June 2025. We have succesfully been awarded funding from The Motability Foundation from June 2023 to June 2026 which will increase our service provision for persons with a disability throughout our schemes.
Other services to be provided include Group Services for members and South Antrim Community Transport have a service level agreement with Disability Action to provide an urban ‘Door to Door Service` for the Antrim and Larne areas.
## **Structure, governance and management**
## **Governing Document**
The organisation is a charitable company limited by guarantee, incorporated on 3rd June 2004 and recognised as a registered charity by HM Revenue and Customs. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association.
If upon winding-up or dissolution of the Company there remains, after the satisfaction of all its debts and liabilities, any property whatsoever, the same shall not be paid to or distributed among the members of the company, but shall be given or transferred to some other charitable institutions having objects similar to the objects of the Company, and which shall prohibit the distribution of its or their income and property to the extent at least as great as is imposed on the Company under or by virtue of Clause 5 hereof, such institution or institutions to be determined by the members of the Company at or before the time of dissolution, and insofar as effect cannot be given to such provision, then to some other charitable object.
## **Recruitment and Appointment of Management Committee**
The directors of the company are also charity trustees for the purpose of charity law and under the company's Articles are known as members of the Management Committee. Under the requirements of the Memorandum and Articles of Association the members of the Management Committee are elected to serve for a period of three years after which one third of the directors shall retire from office but can put themselves forward for re-election on a rotational basis. All members of the Management Committee give their time voluntarily and received no benefits from the charity. Any expenses reclaimed from the charity are set out in note 10 to the accounts.
## **Trustee Induction and Training**
Most trustees are already familiar with the practical work of the charity. Additionally, new trustees are invited and encouraged to attend a short governance training to familiarise themselves with the charity and the context within which it operates.
## **Organisational Structure**
The Management Committee of 8 members meets bi-monthly and is responsible for the strategic direction and policy of the charity. At present the committee has eight members from a variety of professional backgrounds relevant to the work of the charity. The secretary also sits on the committee.
A scheme of delegation is in place and day to day responsibility for the provision of the services rest with Manager. The Manager is responsible for ensuring that the charity delivers the services specified and that key performance indicators are met. The Manager is responsible for the day to day management of the Service, individual supervision of the staff team and also ensuring that the team continues to develop their skills and working practices in line with good practice.
## **Risk Management**
The Management Committee conducted a review and updated the risk assessments for the office premises and drivers.
- 3 -
## **SOUTH ANTRIM COMMUNITY TRANSPORT**
## **TRUSTEE'S REPORT**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
On behalf of the board
Mr H Marron **Director**
19 June 2025
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## **SOUTH ANTRIM COMMUNITY TRANSPORT**
## **TRUSTEES' RESPONSIBILITIES STATEMENT**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
The trustees are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
Company law requires the trustees 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). Under company law, the trustees must not approve the financial statements unless the trustees are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that period.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charities transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
- 5 -
## **SOUTH ANTRIM COMMUNITY TRANSPORT**
## **INDEPENDENT AUDITOR'S REPORT**
## **TO THE MEMBERS OF SOUTH ANTRIM COMMUNITY TRANSPORT**
## **Opinion**
We have audited the financial statements of South Antrim Community Transport (the 'company') for the year ended 31 March 2025 which comprise , the balance sheet, the statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its surplus for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) 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 the 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 responsibilities 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 directors' use of the going concern basis 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 company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
## **Other information**
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information 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 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 information, we are required to report that fact.
We have nothing to report in this regard.
## **Opinions on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of our audit:
- the information given in the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the directors' report has been prepared in accordance with applicable legal requirements.
- 6 -
## **SOUTH ANTRIM COMMUNITY TRANSPORT**
## **INDEPENDENT AUDITOR'S REPORT**
## **TO THE MEMBERS OF SOUTH ANTRIM COMMUNITY TRANSPORT (CONTINUED)**
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the directors' report and from the requirement to prepare a strategic report.
## **Responsibilities of directors**
As explained more fully in the directors' responsibilities statement, the directors 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 directors 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 directors are responsible for assessing the company'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 the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
## **Auditor's responsibilities for the audit of the financial statements**
Our objectives are to obtain 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 detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
## **Use of our report**
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 state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept 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 formed.
## **Erica Convery (Senior Statutory Auditor)**
For and on behalf of David Lyttle & Co Ltd, Statutory Auditor Chartered Accountants Emerson House 14B Ballynahinch Road Carryduff Belfast BT8 8DN 19 June 2025
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## **SOUTH ANTRIM COMMUNITY TRANSPORT**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**£**
**£**
**Incoming resources**
Incoming resources from generated funds
4,887
-
Incoming resources from charitable activities
100,585
389,488
**Total incoming resources**
105,472
389,488
**Resources expended**
Charitable activities
46,980
189,303
Governance costs
69,762
176,971
**Total resources expended**
116,742
366,274
**Exceptional Items**
Profit/(loss) on sale of tangible assets
-
-
**Net incoming/(outgoing) resources**
(11,270)
23,214
**Net movement in funds**
(11,270)
23,214
Total funds brought forward at 1 April 2024
295,120
244,813
**Total funds carried forward at 31 March 2025**
283,850
268,027|**2025**
**Total**
**£**
4,887
490,073
494,960
236,283
246,733
483,016
-
11,944
11,944
539,933
551,877|**2024**
**Total**
**£**
1,880
601,788
603,668
228,985
224,319
453,304
(12,661)
163,025
163,025
376,908
539,933|
|---|---|---|
The statement of financial activities has been prepared on the basis that all operations are continuing operations.
There are no recognised gains and losses other than those passing through the statement of financial activities.
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## **SOUTH ANTRIM COMMUNITY TRANSPORT**
## **BALANCE SHEET**
## _**AS AT 31 MARCH 2025**_
||||**2025**|||**2024**||
|---|---|---|---|---|---|---|---|
||**Notes**|**£**||**£**|**£**||**£**|
|**Fixed assets**||||||||
|Tangible assets|**7**|||153,069|||214,379|
|**Current assets**||||||||
|Debtors|**8**|19,868|||22,754|||
|Cash at bank and in hand||410,519|||363,743|||
|||430,387|||386,497|||
|**Creditors: amounts falling due within**||||||||
|**one year**|**9**|(29,329)|||(42,193)|||
|**Net current assets**||||401,058|||344,304|
|**Total assets less current liabilities**||||554,127|||558,683|
|**Creditors: amounts falling due after**||||||||
|**more than one year**|**10**|||(2,250)|||(18,750)|
|**Net assets**||||551,877|||539,933|
|**Reserves**||||||||
|Income and expenditure account||||551,877|||539,933|
|**Total members' funds**||||551,877|||539,933|
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board and authorised for issue on 19 June 2025 and are signed on its behalf by:
Mr H Marron
## **Trustee**
Company registration number NI 050839 (Northern Ireland)
- 9 -
## **SOUTH ANTRIM COMMUNITY TRANSPORT**
## **STATEMENT OF CHANGES IN EQUITY**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
||**Income and**|
|---|---|
||**expenditure**|
||**£**|
|**Balance at 1 April 2023**|376,908|
|**Year ended 31 March 2024:**||
|Surplus and total comprehensive income|163,025|
|**Balance at 31 March 2024**|539,933|
|**Year ended 31 March 2025:**||
|Surplus and total comprehensive income|11,944|
|**Balance at 31 March 2025**|551,877|
- 10 -
## **SOUTH ANTRIM COMMUNITY TRANSPORT**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **1 Accounting policies**
## **Company information**
South Antrim Community Transport is a private company limited by guarantee incorporated in Northern Ireland. The registered office is Unit 30, Dennison Industrial Estate, Avondale Road, Ballyclare, BT39 9EB.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
South Antrim Community Transport meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost and transaction value unless otherwise stated in the relevant accountancy policy note(s). The financial statements are prepared on a going concern basis.
## **1.2 Fund Accounting**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Restricted funds are subjected to restrictions on their expenditure imposed by the provider of the funds.
## **1.3 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings 25% Reducing Balance Motor vehicles 25% Straight Line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to surplus or deficit.
## **1.4 Impairment of fixed assets**
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in surplus or deficit, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
- 11 -
## **SOUTH ANTRIM COMMUNITY TRANSPORT**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **1 Accounting policies**
**(Continued)**
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in surplus or deficit, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
## **1.5 Cash and cash equivalents**
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.6 Financial instruments**
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Classification of financial liabilities**_
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## **1.7 Taxation**
The company is exempt from corporation tax, it being a company not carrying on a business for the purposes of making a profit.
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## **SOUTH ANTRIM COMMUNITY TRANSPORT**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **1 Accounting policies**
## **(Continued)**
## **1.8 Employee benefits**
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **1.9 Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
## **1.10 Leases**
## _**As lessee**_
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
## **2 Judgements and key sources of estimation uncertainty**
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **3 Income**
The total turnover of the company for the year has been derived from its principal activity wholly undertaken in the Northern Ireland.
## **4 Operating surplus**
|**Operating surplus**|||
|---|---|---|
||**2025**|**2024**|
|Operating surplus for the year is stated after charging/(crediting):|**£**|**£**|
|Depreciation of owned tangible fixed assets|137,130|116,820|
|Profit on disposal of tangible fixed assets|-|(12,661)|
|Operating lease charges|10,659|13,919|
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## **SOUTH ANTRIM COMMUNITY TRANSPORT**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **5 Employees**
The average monthly number of persons (including directors) employed by the company during the year was:
|**7**
**Tangible fixed assets**
**Plant and**
**equipment**
**Fixtures and**
**fittings**
**£**
**£**
**Cost**
At 1 April 2024
12,937
19,110
Additions
-
1,022
Disposals
-
(3,198)
At 31 March 2025
12,937
16,934
**Depreciation and impairment**
At 1 April 2024
12,937
15,882
Depreciation charged in the year
-
114
Eliminated in respect of disposals
-
(3,198)
At 31 March 2025
12,937
12,798
**Carrying amount**
At 31 March 2025
-
4,136
At 31 March 2024
-
3,228
**8**
**Debtors**
**Amounts falling due within one year:**
Service charges due
Other debtors
Prepayments and accrued income|**2025**
**Number**
11
**Motor**
**vehicles**
**£**
504,431
74,799
-
579,230
293,281
137,016
-
430,297
148,933
211,151
**2025**
**£**
4,424
5,616
9,828
19,868|**2024**
**Number**
13
**Total**
**£**
536,478
75,821
(3,198)
609,101
322,100
137,130
(3,198)
456,032
153,069
214,379
**2024**
**£**
4,758
6,248
11,748
22,754|
|---|---|---|
- 14 -
## **SOUTH ANTRIM COMMUNITY TRANSPORT**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
|**9**
**Creditors: amounts falling due within one year**
**Notes**
Obligations under finance leases
Taxation and social security
Accruals and deferred income
**10**
**Creditors: amounts falling due after more than one year**
**Notes**
Obligations under finance leases|**2025**
**£**
18,900
951
9,478
29,329
**2025**
**£**
2,250|**2024**
**£**
18,900
3,693
19,600|
|---|---|---|
|||42,193|
|||**2024**
**£**
18,750|
- 15 -
## **SOUTH ANTRIM COMMUNITY TRANSPORT**
# **MANAGEMENT INFORMATION FOR THE YEAR ENDED 31 MARCH 2025**
## **SOUTH ANTRIM COMMUNITY TRANSPORT**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES** _**FOR THE YEAR ENDED 31 MARCH 2025**_
|**Unrestricted Restricted**
**Funds**
**Funds**
**£**
**£**
**Incoming resources**
**_Investment income_**
Bank interest
4,887
-
**Total incoming resources from generated**
**funds**
4,887
-
**Incoming resources from charitable**
**activities**
Department for Infrastructure
-
118,726
Assisted Rural Travel Scheme
-
30,063
Disability Action Transport Scheme
-
7,598
Motability Foundation
-
112,618
Group Services
91,016
-
Dial a Lift Passenger Fares
-
4,769
Disability Action Passenger Fares
-
3,444
Lottery Funding- Community Wheels
-
106,647
Membership Fees
4,769
-
Community Wheels Fares
-
5,623
Other Income
4,800
-
**Total incoming resources from charitable**
**activities**
100,585
389,488
**Total incoming resources**
105,472
389,488|**Total**
**2025**
**£**
4,887
4,887
118,726
30,063
7,598
112,618
91,016
4,769
3,444
106,647
4,769
5,623
4,800
490,073
494,960|**Total**
**2024**
**£**
1,880|
|---|---|---|
|||1,880|
|||113,941
27,128
7,456
269,591
58,248
5,057
1,582
104,261
2,872
10,152
1,500|
|||601,788|
|||603,668|
- 16 -
## **SOUTH ANTRIM COMMUNITY TRANSPORT**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
|**Unrestricted Restricted**
**Funds**
**Funds**
**£**
**£**
**Resources expended**
**Charitable activities**
**_Direct Costs_**
Wages and salaries
25,089
100,356
Motor Expenses
11,460
45,838
Motability Foundation
2,039
8,157
Staff pension costs
893
3,572
**_Total direct costs_**
39,481
157,923
**_Support costs_**
Staff training
419
1,675
Other staff costs
261
1,045
Rent
2,132
8,527
Cleaning
91
365
Power, light and heat
655
2,619
Repairs and maintenance
24
96
Computer running costs
1,000
4,001
Printing and Stationery
409
1,635
Travelling expenses
384
1,536
Bank charges
-
297
Insurances
226
902
Telecommunications
343
1,372
Sundry expenses
1,556
4,909
Hire Purchase Interest
-
2,400
**_Total support costs_**
7,499
31,380
**Total charitable activities**
46,980
189,303|**Total**
**2025**
**£**
125,445
57,298
10,196
4,466
197,405
2,094
1,306
10,659
457
3,274
120
5,002
2,043
1,921
297
1,128
1,715
6,465
2,400
38,879
236,283|**Total**
**2024**
**£**
123,622
64,785
-
2,070|
|---|---|---|
|||190,477|
|||1,610
-
13,919
-
3,157
50
5,054
5,315
3,060
244
1,249
1,333
3,517
-|
|||38,508|
||||
|||228,985|
- 17 -
## **SOUTH ANTRIM COMMUNITY TRANSPORT**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
|**Unrestricted Restricted**
**Funds**
**Funds**
**£**
**£**
**Governance costs**
Wages and salaries
20,921
83,683
Consultancy fees
390
1,560
Accountancy
425
2,625
Depreciation
48,026
89,104
**Total governance costs**
69,762
176,971
**Total resources expended**
116,742
366,274
**Exceptional items:**
Profit/(loss) on sale of tangible assets
-
-
**Net incoming/(outgoing) resources**
(11,269)
23,213|**Total**
**2025**
**£**
104,604
1,950
3,050
137,130
246,733
483,016
-
11,944|**Total**
**2024**
**£**
105,319
-
2,180
116,820|
|---|---|---|
|||224,319|
|||453,304|
|||12,661|
|||163,025|
- 18 -