COMPANY REGISTRATION NUMBER.. N1607182 CHARrrY REGISTRATION NUMBER: NIC104914 Easilink Community Transport Company Limited by Guarantee Financial Statements 31 March 2023 AFF Chartered accountants & statutory auditor 50 Campsie Road Omagh Co Tyrone BT79 OAG
Easilink Community Transport Company Limited by Guarantee Flnancial Ststements Year ended 31 March 2023 Page Trustees, annual report {incorporaling the directorfs report) Independent auditor's report to the members Statement of financial activities (including income and expenditure account) 10 Statement of financial position 11 Statement of cash flows 12 Notes to the financial statements 13 The followlng pages do not forni part of the flnanclal ststements Detailed statement of financial aclivities 25
Easillnk Communlty Transport Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) Year ended 31 March 2023 The trustees. who are also the directors for Ihe purp)ses of company law, present their report and the financial statements of the charity for Ihe year ended 31 March 2023. Relerence and admlnlslratlve detalls Reglstered charlty name Easilink Community Transport Charlly reglslratlon number NIC104914 Company regl8lratlon number N1607182 Prlnclpal offlce and reglstered Unit 12 Strabane Enterprise Agency offlce Orchard Road Industriaj Estate Slrabane Co Tyrone BT82 9FR Tha trustaeg Mrs Mary T Conway Mr Daniel O Hagan Mr George Kerr M.B.E. Mrs Angela Hamillon Ms Jill Mccormack Ms Christine O Kane Mrs Siobhan McGlone Mr John M¢Cay Mrs Bronagh Keamey Mr John Murray Mr David Slater (Resigned 12 December 2022) (AOInted 12 December 2022) (Appoinled 12 December 2022) Company secretary Mary T Conway Audltor SP Mccaffrey & Co Chanered accounlants & statutt)ry auditor SO Campsie Road Omagh Co Tyrone BT79 OAG Bankers Allied Irish Bank 2-4 East Bridge Street Enniskillen Co Fermanagh BT74 7BT
Easilink Community Transport Company Llmlted by Guarantee Trustees, Annual Report (Incorporating the Director's Report) IntIn(d) Year ended 31 March 2023 Structure, govemance and management Goveming document Easilink Communily Transport is a company limtled by guarantee (Registration Number N16071821. The company is governed by its Memorandum of Articles of Association. In the event of the company being wound up. liabiliiy is limited to £1 per member. The company is recognised as a charily by HMRC {ref XR32374) and by the Charities Commission for Northern Ireland (ref NIC104914). Prlnclpal actlvhy The principal activity of the partnership is the operation of transport and other related seniices in the rural parts of Derry Cily, Strabane and Omagh distTiCt areas for the benefit of the community without distinction of age. sex, religion or other opinion. Declslon-maklng The Board of trustees of Easilink Communty Transport are responsible for the overall legal and financial managemenl of the charity. The Board meels once a month. The work of implemenling mosl of their policies is carried oul by the Chief Executive, to which the Board has delegated responsibility. Statemenl of rl8k3 The main risks to the company are associated with being adequately funded to conlinue with its services. The Charity is relianl on 'Rural Transport Fundino. that it receives from the Departmenl for Infrastructure. Towards the end of the financial year the Board of Trustees had to make difficult decisions in relation lo the signrficant additional risks associated with the Coronavirus Pandemic. Du8 to social distancing guidelines there has been a significant reduction in capacity on the minibuses. The Pandemic has resulled in a huge reduction in the CoMpanS generaled group hire income. The company has been delivering significantly less passenger trips, at additional costs, with The Board of Trustees acknowledging that this may raise cOnrnS with core funders and may have repercussions for future funding. The Board of Trustees is responsible for all risks faced by the Charity. Risks are identified, assessed and controls established throughout the year. Through the risk management processes eslablished. the Board is satisfied that all major risks identified have been adequalely mitigated, where necessary. St is recognised Ihat systems can only provide reasonable but not absolule assurance thal major risks have been adequatdy managed. Obleciives and acllvllles We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewng our aims and objectives and in planning our future activities. Charlly's alm8 Easilink Communty Transport aim to provide a transport Oplion lo rural dwellers in Omagh, Slrabane and Foyle areas who have diff iculty or are unabb to access public transport.
Easilink Community Transport Company Llmlted by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (contind) Year ended 31 March 2023 Achlevements and perforniance The table below summarises the number of trips carried out by Easilnk for the financial year ended 31 March 2022 {year ended 31 March 2021 is shown for comparison),. 2023 21,396 30,559 1,030 4,496 10.602 2022 15.174 20,001 909 3,192 4,471 Diai-A-Lift Passenger Trips Group Hire Passenger Trips Disability Action Passenger Trips Rural Links to Health Passenger Trips Volunleer Irips (comprised of above) Flnanclal revlew Grants The directors are satisfied that all grants, including the Rural Transport Fund grant, Dfi capilal granls and Covid Relief (Resource) Funding. have been used solely for the purposes for which they were intended and in accordance wth the terms and conditions of Ihe granls. Reserves pollcy The directors of Easilink Community Transport have set up a res9e$ policy which requires that reserves be mainlained, in unrestricled bank accounts, at a level which ensures Ihal Easilink's organisalion core activilies, redundancy provision and vehicle replacemenl could continue during a period ol unforeseen difficulty. The directors consider that Ihis figure should be £370.000 and will endeavour to reach this figure in the next few years. The Companys Resenie Policy is reviewed by the directors on an annual basis.
Easilink Community Transport Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (condnwd) Year ended 31 March 2023 Plans for future perfods Strateglc Developmenl Plan for 2022125 During this financial year, Easilink Community Transport have developed a new, 5-year Strategic Development Plan which has replaced our previous long-term Strategy. The planning process idenlified the follon9 key priorty areas which as an organisation we will focus on in the months and years ahead,. Lobbying and Influencing Capability and Capacily Diversify Our Income Generation Model Innovation and Seniice Development - Short to Medium Term Sustanabilty olablltty Partner8hlp Based Prolect Easilink Community Transport are delighted to have been successful in a £3.42 million funding bid to Motability through their 'Community Transport Grant Programme,. The project which will begin in the coming months is a partnership betr•veen lead partner, Easilink Community Transp3rt, and a further three Rural Community Transport Partners {CDM Community Transport. Fermanagh Community Transport and North Coast Community Transport). The goal of this 3-year Projecl is to 'Give disabled people who require access to Community Transport a better qualty of life, and will achi8v8 this through 4 key delivery strarKls.' delivery of passenger trips to indiwduals and groups, sourcing, and procurement ol hventy-three accessible vehicles, and the setting up of a driver training and employment programme. The main risks to the company are associated thryth being adequately funded to continue wilh its seNices. Going fornard the organisalion will continue lo manage Ihe impacl of Ihe Covid 19 Pandemic in terms of reduced demand lor group hire business. which results in an increased cost per trip. Secondly, we are continuing to experience a significant increase in operating costs, particularly in relation to luel and wages and V have recerved no indication from our core funders that addilional revenue would be available to alleviate these cost pressures. This will result in a significant reduction in our passenger Irip numbers, an inability to meet the demand in our operational area and potential reputational damage if services cannol be fulfilled by Easilink to the levels which they were before. Tru81ees' respon8lbllftle8 8tstement The trustees, who are also directors for Ihe purposes of company law. are responsible for preparing the trustees, report and the financial statemenls in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepied Accounting Practice). Company law requires the charity trustees to prepare financial statemenls for each year which give a true and fair view of Ihe state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure. for that period.
Easilink Community Transport Company Llmlted by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (contlnued) Year ended 31 March 2023 In preparing these financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently. observe the methods and principles in the applicable Charities SORP. make judgments and accounting estimates that are reasonable and prudent, The truslees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitls transactions and disclose with reasonable accuracy at any time the financial posilion of Ihe charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Audltor Each of the persons who is a Iwstee at the date of approval of this report confirms that: so tar as they are aware, there is no relevant audit information of which the CharItS auditor is unaware. and they have laken all sleps that they oughl to have taken as a trustee lo make themselves aware of any relevant audit informalion and lo establish thal the charty's auditor is aware of that information. The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006. Small company provlslons This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exempiion. The trustees, annual report was approved on 31 July 2023 arKI signed on behall of the Ix)ard of trustees by= Mr Daniel O Hagan Trustee eorge Kerr M.B.E. Truslee
Easilink Community Transport Company Limited by Guarantee Independent Audltor's Report to the Members of Easlllnk Community Transport Year ended 31 March 2023 Oplnlon We have audited the financial stalements of Easilink Community Transport {the 'charty'i for the year ended 31 March 2023 which comprise Ihe slaternent of financial activities (inclLJding income and expenditure account), statement of financial posriion, statement of cash Ilows and the relaled noles. including a summary of significant accourrting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including FFIS 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 Ihe charitys affairs as at 31 March 2023 and of its incoming resources and *ication ol resources, including its income and expenditure, for the year then ended. have been properly prepared in accordance with Untted Kingdom Generally Accepted Accounting Practice; have been prepared in accordance with the requirements of the Companies Act 2006. Ba818 for oplnlon We conducled our audit in accordance wth Inlernational Slandards on Audrting (UK) {ISAs {UK)l and applicable law. Our responsibilrties under those standards are further described in the audilorfs responsibilities for the audil of the financia statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant lo our audit of the financial statements in the UK. inclLJding the FRC'S Ethical Standard. and we have fulfilled our other elhical responsibilities in accordance with Ihese requirements. We believe thal the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Concluslons relallng to golng concom In auditing the financial stalements, we have conduded that the trustees, use of the going concern basis of accounting in Ihe preparation ot the financial statements is appropriate. Based on the work we have performed, we have not identified any malerial uncertainties relating to events or conditions that, iThJividually or collectively, may &2St significant doubt on the charity's abilty lo continue as a going concern for a period of at least twelve months from when the financial slatements are authorised lor issue. Our responsibililies and the responsibilities of the trustees wilh resped to going concern are described in the relevant sections of this report.
Easilink Community Transport Company Llmlted by Guarantee Independent Auditor's Report to the Members of Easilink Communlty Transport (contlnued) Year ended 31 March 2023 Other Infonnatlon The olher information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information. Our opinion on Ihe financial statements does not cover the other information and. except to the extent olherwise explicitly stated in our report, we do not express any form of assurance conclusion Ihereon. In conneclion Vth our audit of the fjnancial statements, our responsibility is to read the other informalion and, in doing so, consider whelher Ihe other information is materially inconsistent with Ihe financial statements or our knowledge obtained in Ihe audit or otherwise appears to be malerially misstated. If we identity such material inconsistencies or apparent material misstatemenls, we are required to determine whether there is a material misstatement in the financial slatements or a malerial misstalemenl of the other information. 11, based on the work we have pertormed. we conclude that there is a material misstatement of thbs Other information. we are required lo report that fact. We have nothing to report in this regard. Oplnlons on olher matters prescrlbed by the Companles P£1 2006 In our opinion. based on the work undertaken in the course of Ihe audit: the information given in Ihe truslees, report for the financial year for which the financial slalements are prepared is consistenl with the financial statements- and the trustees, report has been prepared in accordance with arplicable legal requirements. Matters on whlch we are requlred lo report by •xceptlon In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified malerial misstatements in the trustees, report. We have nothing to report in respect of the follovifjng matters in relation to which the Companies Act 2006 requires us to report to you if, in our opnion: adequate accounting records have not been kept, or relums adequate for our audil have nol been rec8ived from branches not visited by us. or the financial statements are not in agreement Vth the accounting records and returns. or certain disclosures of truslees. remuneralion specrfied by law are not made., or we have not received all the information and explanations we require for our audit: or the trustees were not enlitled to prepare the financial statemenls in accordance wilh the small companies regime and take advantage of the small companies. exemptions in preparing the directors. report and from the requirement to prepare a slralegic report.
Easilink Community Transport Company Llmiled by Guarantee Independent Audltor's Report to the Members of Easilink Community Transport (contlnu8dJ Year ended 31 March 2023 Responsibilities of trustees As explained more fully in the trustees, responsiLNlilies statement. the trustees Ivtho are also the directors for Ihe pUoseS of company law) 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 conlrol as the trustees determine is necessary to enable the preparation of financiai statements that are free from material misstatement, whether due to fraud or erTOr. In preparing the financial statements, the trustees are reswnsible for assessing the charity's abilrty lo continue as a going concern, disclosing, as applicable. matters related to going concern and using ihe going concern basis of accounling unless the trustees either inlend lo liquidate the charily or to cease operations, or have no realistic alternative but to do so. Audttor'8 responslbllltles for the audlt of the flnanclal ststement$ Our objectives are to obtain reasonable assurance aboul whelher the financial statements as a whole are free from material misslalement, whether due lo fraud or error, and to issue an auditor's report Ihal includes our opinion. Reasonable assurance is a high level of assurance, bul is nol a guarantee that an audit conducted in accordance with ISAS {UK) will always detect a material misstatement when it exists. Misstatemenls can arise from fraud or error and are considered material if, individually or in the aggregale. Ihey could reasonably be expected to inff uence th8 economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud. are instances of non-compliance wth laws and regulations. We design procedures in line with our responsibilities, outlined above, lo delect malerial misslatements in respect of irregularilies, including fraud. The extenl to which our procedures are capable of delecting irregularities, including fraud is detailed below: As part of an audit in accordance wth ISAS (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: Idenlify and assess the risks of material misstalement of the financial statements, wh8th8r du8 to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit ewdence Ihat is suff icient and aFpropriate lo provide a basis for our opinion. The risk of not detecling a material misstalemenl resulling from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, inlenlional omissions, misrepresentations, or the override of intemal conlrol. Obtain an understanding of internal control relevant to the audit in order to design audit procedures thal are appropriate in the circumstances. bul not for the purwjse of expressing an opinion on the effecliveness of the internal conlrol. Evaluate Ihe appropriateness ol accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.
Easilink Community Transport Company Limited by Guarantee Independent Auditor's Report to the Members of Easilink Community Transport (¢ontinuedJ Year ended 31 March 2023 Conclude on the appropriateness of the trustees. use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related lo events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial siatements or. if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However. future events or conditions may cause the charity to cease lo continue as a going concern. Evaluate the overall presentation, structure and content of the financial statements, including ihe disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with govemance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our report This report is made solely to the charity's members. as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might stale to the chaiity's members those matters we are required to slate lo Ihem in an auditovs 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 charity and the charity's members as a body. for our audit work. for this report, or for the opinions we h ve formed. Ga mpson (S8nior Statutory Auditor) For and on behalf of SP Mccaffrey & Co Chartered accountants & statutory auditor 50 Campsie Road Omagh Co Tyrone BT79 OAG 31 July 2023
Easilink Community Transport Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2023 2023 Dfi Restricted funds 2022 Other restricted funds Total funds Unrestricted funds Total funds Note Income and endowments Donations and legacies Charitable activities Investment income 373,925 28,940 184.776 2,419 558,701 175.821 2.595 737,117 613.995 85,080 657 144.462 2,595 Total Income 147.057 402,865 187.195 699,732 Expendlture Expenditure on raising funds- Costs of raising donations and legacies Expenditure on charitable activities 43,005 246,137 142,881 432,024 389,430 98,771 156.728 402,865 44,314 187,195 299,812 731,836 316,144 705,574 Total expendlture 141,776 Net incomellexpendlture) and net movement In funds 5,281 5,281 15,842) Reconclllatlon of fund8 Total funds bfought forward as previously reported Prior year adjustment.. Electn'c minibus 441,709 441,709 447,551 157,390> {57,3901 Total funds brought foThvard as restated 441.709 157.390) 157.390) 384.319 447,551 Total lund8 carrled forward 446,990 389,600 441,709 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activits'es. The notes on pages 13 to 23 forni part of these financial statements. 10
Easilink Community Transport Company Llmlted by Guarantee Statement of Flnancial Position 31 March 2023 2023 2022 Noto Flxed assets Tangible fixed assets 12 217.494 268,710 Current assets Debtors Cash at bank and in hand 13 56,677 367,836 424,513 73,076 344,991 418.067 Credllors: amounts falllng due wllhln one year Trade creditors Other creditors including taxation and social securty 39,777 78,982 118,759 305,754 523,248 35,351 58,592 93,943 324,124 592.834 14 Nel currenl assets Total a&8e18 le88 current Ilabllllles Crediiors: amounis falllng due after more Ihan ono ar Other creditors including taxation and social securty 15 31,500 14.927 Ac¢rual8 and doferred Income 102.148 389,600 136,198 441,709 Nel assets Funds of the charfty Restricted lunds Unrestricted funds (57,3901 446,990 389,600 441,709 441,709 Total charlty fund8 These financial statements have been prepared in accordance with the provisions applicable to companies subjecl to the small companies, regime. These financial statements were approved by the board ot trustees and authorised for issue on 31 July 2023, and are signed on behalf of Ihe board by: Mr Daniel O Hagan Truslee MrGe Truslee eKe Tho nolos on pages 13 to 23 lomi part ol Ihose Ilnanclal statemenls. 11
Easilink Community Transport Company Limited by Guarantee Statement of Cash Flows Year ended 31 March 2023 2023 2022 Cash flows from operaiing activltles Net incomellexpenditure) 5,281 15,8421 Adjustments for.. Depreciation of tangible fixed assels Amortisation of intangible assels Other interest receivable and similar income Interest payable and similar charges 61,956 134,0501 (2,5951 3,390 76.783 {34,0501 16571 4,137 Changes in.. Trade and other debtors Trade and other creditors 16,399 1.439 3.799 (19.9331 24,237 Cash generated from operations 51.820 Interest paid Interest received (3,390) 2,595 51.025 14.1371 657 Net cash from operating activities 20.757 Cash flows from Investlng acllvftle8 Purchase of tangible assets Proceeds from sale ot tangible assets Nel cash used in investing activities {68,130) 1124,864) 12,979 22,228 {55,1511 1102,636) Cash IIow8 from flnanclng acllvllle3 Government grant income Payments of finance lease liabilities Net cash from financing acti1185 124.639 (23,9751 100,664 26,971 26,971 Net Increase In cash and cash equlvalenls Cash and cash equlvalents at beginnlng of year Cash and cash equlvalents al end of year 22,845 344,991 367,836 18,785 326,206 344.991 The notes on pages 13 to ZJ forni part of these financlal ststements. 12
Easilink Community Transport Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2023 General informatlon The charty is a public benetit entity and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is Unil 12 Strabane Enlerprise Agency. Orchard Road Industrial Estate. Strabane. Go Tyrone. BT82 9FFI. Slalemenl of compllance These financial statements have been prepared in compliance with FFIS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland {FRS 102) (Charities SOFIP IFRS 102)) and the Companies Act 2006. Accounllng pollcles Basls of preparatlon The financial statements have been prepared on the historical cost basis, as modified by the revalualion of certain financial assets and liabilities and investment properties measured at fair value Ihrough income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the enlity. Golng concern There are no malerial uncertanties about the charty's ability to continue. Judgemen18 and key sources of e8llmatlon uncertalnty Eslimates and judgements are continually evaluated and are based on historical experience and other laclors. including expectations of future events that are believed to be reasonable under the circumstances. Fund accountlng Unrestricted funds are available for use at the discretion of the trustees to further any of the charily's purposes. Designaled funds are unrestricted funds earmarked by ihe trustees for particular future projeci or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of tsvo sub-classes: restricted income funds or endowment funds. 13
Easilink Community Transport Company Llmited by Guarantee Notes to the Financial Statements (conllnued) Year ended 31 March 2023 Accountlng pollcles (contInd) Incomlng resources All incoming resources are induded in the statement of financial activities when entbtlement has passed to the charty; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specrfic policies are applied lo particular caiegories of income: income from donations or grants is recognised when there is evidence of entitlemenl to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost lo the donor or the estimated resale value. Donated facilities and serwices are recognised in Ihe accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunleers. income from conlracts for the supply of seniices is recognised wilh th8 d81iv8ry of the contracted senlice. This is classified as unrestricted funds unless there is a contractual requirement for it to be sp8nt on a particular purpose and returned rf unspent, in which case it may be regarded as restricted. Re8ource8 experthd Expenditure is recognised on an accruals basis as a liability is incurred. Expendilure includes any VAT which cannot be fully recovered, and is Classif under headirKJs of the statement of financial activities to which il relales: expenditure on raising funds includes the costs of all fundraising activities, events, non- charitable trath'ng activities, and the sale of donated goods. expenditure on charilable activrties includes all costs incurred by a charty in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expendtture that is neither related to raising funds for the charity nor part of its expendbture on charitable activities. All costs are allocated to expenditure categories roflecting the use of the resource. Direct Costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned betsveen the activities they contribute to on a reasonable. justrfiable arKI consistent basis. Operallng leases Lease payments are recognised as an expense over the lease term on a slraighl-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis. 14
Easilink Community Transport Company Llmlted by Guarantee Notes to the Financial Statements (contlnuod) Year ended 31 March 2023 Accountlng pollcles (conllnu6d) Intangible a&8els Intangible assets are initially recorded at cost. and are subsequently slated at cost less any accumulated arnortisation and impairment losses. Any intangible assets carried at revalued amounls, are recorded at the fair value at the date of revaluation. as delermined by relerence to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from gocmywill when they arise from contractual or other legal rights, are separable. Ihe expected future economic benefits are probable and the cost or value can be measured reliably. Research and development Research expenditure is written off in the period in which it is incurred. Development expenditure incurred is caprtalised as an intangible asset only when all of the following criteria are met: It is technically feasible to complete the intangible asset so that it will be available for use or sale., There is the intention10 complete the intangible asset and use or sell it. There is the ability to use or sell the intangible asset- The use or sa18 of Ihe intangible asset will generate probable fulure economic benefits., There are adequate technical, linancial and other resources available to complete the development and to use or sell the intangible asset; and The expendilure attributable to the intarwJible asset during ils development can be measured reliably. Expenditure that does nol meet the above criteria is expensed as incurred. Tanglble assels Tangible assels are initially recorded at cost. and subsequenlly staled at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalu8d amounls are recorded at the fair value al the date of revalualion less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in Ihe carrying amount of an asset as a resutt of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a resutt of revaiuation. is recognised in other recognised gains and losses, excepl lo which il offsets any previous revalualion gain, in which case the loss is shown within olher recognised gains and losses on the statement of financial activities. 15
Easilink Community Transport Company Limited by Guarantee Notes to the Financial Statements (ntInUed) Year ended 31 March 2023 Accountlng pollcles (contlnued) Depreclatlon Depreciation is calculated so as to write off Ihe cost or vajuation of an asset, less its residual value, over the useful economic Itfe of that asset as follows.. Fixlures and fittings Motor vehicles 33Y• reducing balance 20¢/0 reducing balance Impalrment of flxed assets A review for indicalors of imp&rment is carried out al each reporting date, with th8 recov8rable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairmenls are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an eslimate is made ol the recoverable amounl of the cash- generating unil to which the assel belongs. The cash-generaling unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflobvs Irom other assets or groups of assels. For impairmenl lesting of goodwill. the goodwill acquired in a business combination is, from the acquisilion date, allocated to each of the cash-generating units that are expected lo benefit from the synergies of Ihe combination, irrespective of whelher other assets or liabilities of the charty are assigned lo Ihose units. Flnance leases and hlre purchage conlra¢18 Assets held under finance leases and hire purchase contracts are recognised in the statemeni of financial position as assets and liabilities al Ihe lower of the fair value of the assets and Ihe presenl value of the minimum lease payments. which is determined at the inception of the lease term. Any initial direct costs of the lease are athed to the amount recognised as an ass81. Lease paymenls are apportioned between the finance charges and reduction of Ihe outstanding lease liability using the effective interest melhod. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liabilty. Govemmeni grants Government grants are recognised al Ihe fair value of the asset received or receivable. Grants are not recognised until there is reasonatrfe assurance that the charity V11 comply with the conditions attaching to them and the grants will be received. Where the grant does not impose specrfied future performance-related condilions on the recipient. il is recognised in income when the grani proceeds are received or receivable. Where the grant does impose specffied fulure performance-related conditions on the recipienl, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisty'ng the revenue recognition criteria, they are recognised as a 16
Easilink Community Transport Company Limited by Guarantee Notes to the Financial Statements (continwd) Year ended 31 March 2023 Accountlng pollcles (conlln(ATd) Financial instruments A financial asset or a financia liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related Iransaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be partl or received and not discounled. Debt instruments are subsequenlly measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be m8asured reliably, the investment is subsequenlly measured al fair value with changes in fair value recognised in income and expendslure. All other such investments are subsequently measured at cosl less impairment. Other financial inslruments, including derivatives. are Inilially recognised at fair value, unless payment lor an asset is deferred beyond normal business terms or linanced at a raie of inleresl that is noi a market rate, in which case the asset is measured al the present value of the fulure payments discounted at a markei rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, ¥th any changes recognised in the slatement of financial actrvities, wrth the exception of hedging instruments in a designated hedging relationship. Financial assels that are measured at cost or amortised cost are reviewed for objeclive evid8nce of impairment at the end of each reporting date. If there is objective evidence of impairment. an Impairmenl loss is recognised under the appropriate heading in the slatement ot financial activities in which the initial gain was recognised. For all equity instruments regardless of signrficance, and other financial assets that are individually significant, these are assessed individually for impairmenl. Other financial assets are either assessed individually or grouped on the basis ol similar credrt risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not resuft in a carrying amount of the financid asset that exceeds what the carrying amount would have been had the impairmenl not previously been recognised. Dellned conlrfbutlon plans Contributrons to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid conlribLrtions are recognised as an asset to the extent that the prepayment will lead lo a reduction in future payments or a cash refund. 17
Easilink Community Transport Company Limited by Guarantee Notes to the Financial Statements (conUnu6d) Year ended 31 March 2023 Accounting pollcles (conllnued) Deflned contrlbutlon plans (¢ontinwd) When conlributions are not expeded to be settled wholly wthin 12 months of the end of the reporting dale in which the ernoYeeS render the related service, the liability is measured on a discounted present value basi5. The unwinding of the discount is recognised as an expense in the period in thich it arises. Llmlted by guaranlO0 Easilink Communty Transport is a company Limited By Guarantee and accordingly does not have a share capilai. Every director of the company undertakes to contrile such an amountas may be required, not exceeding £1, to the assels of the charitable company in the event of it being wound up while he or she is a member, or within one year after he or she ceases to ba a member. Donaiions and legacles Other restricled Toial Funds funds 2023 Unrestricted Funds Restricted funds Grants Assisted Rural Transport Scheme Disability Aclion Transport Scheme Grant Rural Transport Fund Grant Rural Transport Fund Cowd Relief Funding Derry Cty & Strabane District Council: Policing & Community Safety Partnership HMRC Job Retention Scheme Grant Derry City & Strabane Dislrict Council- Volunteer Car Scheme National Lottery Communty Fund: Rural Links to Health and Well-being 67.202 67,202 83,679 83,679 306,723 306,723 6,380 6,380 4,000 90,717 184,776 90,717 558,701 373.925 18
Easillnk Community Transport Company Limited by Guarantee Notes to the Financial Statements (conlinwdj Year ended 31 March 2023 Donatlons and legacles (continu8d) Other restricted Total Funds funds 2022 Unrestricted Funds Restricted funds Grants Assisted Rural Transport Scheme Disability Action Transport Scheme Grant Flural Transport Fund Grant Rural Transport Fund Covid Relief Funding Derry City & Strabane Dislricl Council: Policing & Community Safety Partnership HMRC Job Retention Scheme Grant Derry City & Strabane Districl Council: Volunteer Car Scheme National Lottery Comrnunty Fund: Rural Links lo Health ancl Well-being 66.702 66,702 83,679 83,679 306,723 306,723 71,147 71,147 6,452 6,452 79,292 234,118 79,292 613,995 6.452 373,425 Charllablo adlvlll•s Other restricted Total Fund8 funds 2023 Unreslricled Funds Restricled funds Food parcel deliveries Minibus group hire Disability Action Transport Scheme Fare Income Dial-A-Lift Fare Income Membership fees Rural Links conlribution to overheads Rural Links to Health and Well-being Fares Training and seminars HMRC Employment Allowance Proceeds Irom sale of minibuses Summer trips 103,992 103,992 2,419 2,419 21,954 7,606 8,000 21,954 6,986 620 17.665 200 17,665 200 12,980 1.005 12,980 1,005 144,462 28.940 2,419 175,821 19
Easilink Community Transport Company Llmlted by Guarantee Notes to the Financlal Statements (condnuad) Year ended 31 March 2023 Charltable actlvities (contsnu•dJ Other restrrcted Total Funds funds 2022 Unrestricted Funds Restricted funds Food parcel deliveries Minibus group hire Disability Action Transport Scheme Fare Income Dial-A-Lift Fare Income Membership fees Rural Links contribution to overheads Rural Links to Health and Well-being Fares Training and seminars HMRC Employment Allowance Proceeds from sale of minibuses Summer trips 1,470 42.048 1.470 42.048 2,315 2,315 10,998 4,271 8,000 10.998 3.671 600 8,000 11.628 350 4,000 11,628 350 4,000 68.096 14,669 2,315 85,080 Investment Income Unrestricled Total Fund8 Unrestricted Total Funds Funds 2023 Funds 2022 Bank interest receivable 2,595 2,595 657 657 Audltor8 remunerallon 2023 2022 Fees payable tor the audit of the financial statements 1,500 1,500 Staff c08ts The average head count of emOyeeS during the year was 27 (2022: 211. The average number of full-time equivalenl employees during the year is analysed as follows: 2023 No. 2022 No. Management Administration Drivers 12 12 22 21 No employee received employee benefits of more Ihan £60.000 during the year {2022: Nill.
Easilink Community Transport Company Limlted by Guarantee Notes to the Financial Statements (contlnwd) Year ended 31 March 2023 10. Trustee remuneration and expenses No remuneration or other benefits frorn employment wth Ihe charty or a related enlily wre received by the trustees. 11. Inlanglble assets Webslt• Cosl Al 1 Aprll 2022 and 31 March 2023 Amortlsaiion At 1 Aprll 2022 and 31 March 2023 Carrylng amounl At 31 March 2023 2.100 2,100 At 31 March 2022 12. Tanglble flxed a88et$ Fixtures and fittings Motor vehicles Toial Cost At 1 April 2022 Additions Oisposals At 31 March 2023 67.260 533.334 68,130 (71,737) 529,727 600,594 68,130 (71 ,7371 596,987 67,260 Depreclallon At 1 April 2022 Charge for the year Disposals Al 31 March 20ZJ 61,864 2,699 270,020 59,257 (14,3471 314,930 331,884 61,956 114,347) 379,493 64,563 Carrylng amounl At 31 March 2023 2,697 214,797 217,494 At 31 March 2022 5.396 263,314 268,710 13. Deblors 2023 2022 Trade debtors Prepayments and accwed income Other debtors (see below) 35,874 30,429 5,903 36,744 20.803 56,677 73,076 21
Easilink Community Transport Company Limited by Guarantee Notes to the Financial Statements (conlinuad) Year ended 31 March 2023 13. Debtors (continued) 2023 2022 Olher deblors Rural Transport Fund Grant Due Assisted Rural Transport Scheme Due Dery City & Strabane District Council Grants Due VAT liability PAYE arKI NIC 25,560 5.893 13,887 4,790 2,126 4,339 952 20,803 36,744 14. Other credftors Includlng taxallon and soclal securlty falllng due wlthln one year 2023 2022 Social security and other taxes Obligations under finance leases National Lottery Communiiy Fund Grant noi spent 3,741 20,498 54,743 78,982 10,100 48,492 58,592 15. Olher credltors Includlng iaxatlon and soclal seeurlty falllng due after more than one year 2023 2022 Obligations under finance leases 16. Flnance lease8 and hlre purchase conlracts 31,500 14,927 The total future minimum lease payments under fi'nance leases and hire purchase contracts are as follows.. 2023 2022 Not later than 1 year Later than 1 year and not later than 5 years 20,498 31,500 51.998 10.100 14.927 25,027
Easilink Community Transport Company Limited by Guarantee Notes to the Flnancial Ststements (contlnued) Year ended 31 March 2023 17. Deferred income 2023 2022 At 1 April 2022 Amount released to income Amount deferred in year At 31 March 2023 136.198 45,609 124,639 {34,050) 136,198 (34,0501 102.148 Deferred Income received during the year was: 2023 2022 Dept for Infrastructure Granl: Electric bus Depl for Infrastruclure Grant: Electric charging point National Lottery Community Fund: Minibus grant (71,737) {9,946) (42,956) 18. Govemment grants Th8 amounts recognised in the tinancial statements for govemment grants are as follows., 2023 2022 Recognised in accruals and delerred incorne. Deferred government grants due after more than one year 102.148 136,198 19. Analy818 of changes In noi debt At At 1 Apr 2022 Cash flows 31 Mar 2023 Cash at bank and in hand Debl due within one year Debt due after one year 344,991 {10.1001 (14,927) 319,964 22,845 {10,3981 (16,573) (4,126) 367,836 (20,4981 (31,500) 315,838 20. Relaled partles Easilink Enterprises Ltd is a relaled paty. The directors of Easilink Enterprises Limited are Daniel O Hagan, Angela Hamillon and George Kerr. They are also directors Easilink Community Transport. There yre no transactions during the year between Easilink Enterprises Limited and Easilnk Community Transport. At 31 March 2023 Ihere were no monies owing between Easilink Enterprises Limited and Easilink Communty Transport.
Easllink Community Transport Company Limited by Guarantee Management Information Year ended 31 March 2023 The followlng pages do not form part of Ihe flnanclal 8tstemenlS. 24
Easllink Community Transport Company Limited by Guaranlee Detailed Statement of Flnanclal Actlvltles Year ended 31 March 2023 2023 2022 Income and endowments Donations and legacies Assisted Rural Transport Scheme Disability Action Transport Scheme Grant Rural Transport Fund Grant Rural Transport Fund Covid Relief Funding Derry City & Slrabane District Council- Policing & Community Safety Partnership HMRC Job Retenlion Scheme Grant Derry City & Strabane District Council.. Volunteer Car Scheme National Lottery Community Fund: Rural Links to Heafth and Well-being 67,202 83,679 306.723 66,702 83,679 306,723 71.147 6.380 6.452 4.000 90,717 558.701 79,292 613,995 Charltable actlvltles Food parcel deliveries Minibus group hire Disability Action Transport Scheme Fare Income Dial-A-Lift Fare Income Membership fees Rural Links conlribution to overheads Rural Links to Health and Well-being Fares Training and seminars HMRC Employment Allowance Proceeds from sale ol minibuses Surnmer trips 1,470 42,048 2,315 10,998 4.271 8,000 11,628 350 4,000 103,992 2,419 21,954 7,606 8.000 17.665 200 12,980 1,005 175,821 85,080 Investmenl Income Bank interest receivable 2,595 657 Total Income 737,117 699,732 25
Easilink Community Transport Company Llmited by Guarantee Detailed Statement of Financial Activities (conllnu8d) Year ended 31 March 2023 2023 2022 Expenditure Cosis of ralslng donallons and legacies Drivers wages Volunteer expenses Policing and Communty Safety Partnesrship expenses Taxis Fuel and vehide expenses Minibus leasing Costs of ralslng donatlons and legacles 192,250 86,518 6,513 2,663 142,311 1,769 432.024 222,335 37,937 2,218 124,875 2.065 389,430 Expendllure on charltable acllvltle3 Wages and salaries Pension costs Office equipment leasing costs Rent Rates & water Light & heat Repairs & manlenance Insurance Stationery and postage Computer software costss Scheduling software licence fee Travel expenses Promotion and advertising Audit fees Legal and olher professional fees Rural Links overhead costs Costs of trustees, meelings Telephone Training and conference fees Amortisation Depreciation Bank fees and interest Leasing and hire-purchase interest Human resources consultancy fees Membership fees Uniforms Covid cosis and persond protectprfe equipme Sundries Bad debts writt8n-off Consullancy fees Expenditure on charltable actlvllles 168,829 10.043 1.396 15,724 202 2,824 2,409 5,827 2,538 4,978 9,050 3.975 1.520 1,850 604 8,000 2,776 5,112 9,097 (34,0501 61,956 2,077 1,313 2,160 175,891 11.814 1,332 16.142 86 3,311 249 550 2,026 9,520 9,050 2.802 7.778 1,500 737 8.000 1,342 5,442 2,350 134,0501 76,783 1,562 2,575 2,160 1,326 2,269 1,293 3,630 2,279 15 5,042 299.812 316,144 Tolal expendllure 731,836 705.574 Net 1ncomel(exnd1Iurej 5,281 15.8421 26