MOORSBUS COMMUNITY INTEREST COMPANY

Company limited by guarantee

Company Registration Number:
09044336 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2023

Period of accounts

Start date: 1 April 2022

End date: 31 March 2023

MOORSBUS COMMUNITY INTEREST COMPANY

Contents of the Financial Statements

for the Period Ended 31 March 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

MOORSBUS COMMUNITY INTEREST COMPANY

Directors' report period ended 31 March 2023

The directors present their report with the financial statements of the company for the period ended 31 March 2023

Directors

The directors shown below have held office during the whole of the period from
1 April 2022 to 31 March 2023

William Breakell
Helen Gundry
Eden Blyth


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
14 August 2023

And signed on behalf of the board by:
Name: William Breakell
Status: Director

MOORSBUS COMMUNITY INTEREST COMPANY

Profit And Loss Account

for the Period Ended 31 March 2023

2023 2022


£

£
Turnover: 45,328 35,568
Cost of sales: ( 32,421 ) ( 29,109 )
Gross profit(or loss): 12,907 6,459
Distribution costs: 0 0
Administrative expenses: ( 11,207 ) ( 3,131 )
Other operating income: 0 0
Operating profit(or loss): 1,700 3,328
Interest receivable and similar income: 0 0
Interest payable and similar charges: 0 0
Profit(or loss) before tax: 1,700 3,328
Tax: 0 0
Profit(or loss) for the financial year: 1,700 3,328

MOORSBUS COMMUNITY INTEREST COMPANY

Balance sheet

As at 31 March 2023

Notes 2023 2022


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets:   0 0
Investments:   0 0
Total fixed assets: 0 0
Current assets
Stocks:   0 0
Debtors: 3 0 87
Cash at bank and in hand: 5,135 2,060
Investments:   0 0
Total current assets: 5,135 2,147
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 4 ( 4,035 ) ( 2,747 )
Net current assets (liabilities): 1,100 (600)
Total assets less current liabilities: 1,100 ( 600)
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 0
Accruals and deferred income: 0 0
Total net assets (liabilities): 1,100 (600)
Members' funds
Profit and loss account: 1,100 ( 600)
Total members' funds: 1,100 (600)

The notes form part of these financial statements

MOORSBUS COMMUNITY INTEREST COMPANY

Balance sheet statements

For the year ending 31 March 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 14 August 2023
and signed on behalf of the board by:

Name: William Breakell
Status: Director

The notes form part of these financial statements

MOORSBUS COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of transactions can be measured reliably.

    Other accounting policies

    TaxationThe taxation expense represents the aggregate amount of current and deferred tax recognised in thereporting period. Tax is recognised in the statement of comprehensive income, except to the extent thatit relates to items recognised in other comprehensive income or directly in capital and reserves. In thiscase, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured atthe amounts of tax expected to pay or recover using the tax rates and laws that have been enacted orsubstantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved taxlosses and other deferred tax assets are recognised to the extent that it is probable that they will berecovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax ismeasured using the tax rates and laws that have been enacted or substantively enacted by thereporting date that are expected to apply to the reversal of the timing difference.Financial instrumentsA financial asset or a financial liability is recognised only when the company becomes a party to thecontractual provisions of the instrument.Basic financial instruments are initially recognised at the transaction price, unless the arrangementconstitutes a financing transaction, where it is recognised at the present value of the future paymentsdiscounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.Where investments in non-convertible preference shares and non-puttable ordinary shares orpreference shares are publicly traded or their fair value can otherwise be measured reliably, theinvestment is subsequently measured at fair value with changes in fair value recognised in profit or loss.All other such investments are subsequently measured at cost less impairment.Other financial instruments, including derivatives, are initially recognised at fair value, unless paymentfor an asset is deferred beyond normal business terms or financed at a rate of interest that is not amarket rate, in which case the asset is measured at the present value of the future paymentsdiscounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised inprofit or loss, with the exception of hedging instruments in a designated hedging relationship.Financial assets that are measured at cost or amortised cost are reviewed for objective evidence ofimpairment at the end of each reporting date. If there is objective evidence of impairment, animpairment loss is recognised in profit or loss immediately.For all equity instruments regardless of significance, and other financial assets that are individuallysignificant, these are assessed individually for impairment. Other financial assets or either assessedindividually or grouped on the basis of similar credit risk characteristics.Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversaldoes not result in a carrying amount of the financial asset that exceeds what the carrying amount wouldhave been had the impairment not previously been recognised.

MOORSBUS COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 3 4

MOORSBUS COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 March 2023

3. Debtors

2023 2022
£ £
Trade debtors 0 0
Prepayments and accrued income 0 0
Other debtors 0 87
Total 0 87
Debtors due after more than one year: 0 0

MOORSBUS COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 March 2023

4. Creditors: amounts falling due within one year note

2023 2022
£ £
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Trade creditors 0 0
Taxation and social security 0 0
Accruals and deferred income 0 0
Other creditors 4,035 2,747
Total 4,035 2,747

COMMUNITY INTEREST ANNUAL REPORT

MOORSBUS COMMUNITY INTEREST COMPANY

Company Number: 09044336 (England and Wales)

Year Ending: 31 March 2023

Company activities and impact

Moorsbus Community Interest Company works to improve public access to and around the North York Moors for its residents and visitors, and for long-term environmental benefit.More than ever, issues of social equity and climate change have influenced our activities and we are grateful to those who share these concerns and have supported us in these difficult times.We achieve our aims through raising knowledge about public transport and its social, economic and environmental impacts, and by contributing to local, regional and national working groups and consultations. We also commission a network of local bus services where none exist and promote these to local communities and visitors. In striving to improve our services we constantly review our activities and seek external advice, largely from professional transport practitioners and academics. They strengthen the view that our particular circumstances are best served by providing timetabled services with relatively large-capacity vehicles. This approach enables us to meet multiple needs of locals and visitors, large communities and tiny ones, as well as significantly volatile demand. Alternative approaches such as Demand Responsive Transport, the use of smaller vehicles, or concentrating on one core route could not meet passenger needs, cope with seasonality, or aspirations for overall growth. Passengers consistently tell us they need a reliable, timetabled service in which they can have full confidence.Our achievements and innovations have been welcomed (and copied) nationally and the CIC makes an important contribution to the wellbeing of society.We have found it increasingly difficult to raise funds to support our activities. Larger grant applications may be very complex and time-consuming and are often unsuccessful. Small donations and grants may be relatively easier to achieve but still take time and may require detailed reports either in writing or by personal presentation.We still suffer from a total lack of support from the two agencies which are in the best position to help us and simultaneously meet their own sustainability objectives. Neither North Yorkshire County Council nor the North York Moors National Park Authority acknowledge that social equity demands major public transport improvements and that by encouraging an ever-increasing number of car-borne visitors, there is huge damage to the environment and society.Lack of funding resulted in buses only operating for three months in 2022. The last-minute nature of this finance resulted in the inability to sign contracts until we had funds in place, leading to a lack of advance publicity. Continuity of funding is the greatest threat to our activities.

Consultation with stakeholders

We have a long track record of genuine stakeholder involvement, in which we strongly believe, and we are also open to new consultation processes. We have defined four stakeholder groups:Direct users of services. These are surveyed through a detailed questionnaire (available on every bus, on every operational day) which uses standardised questions in order to obtain longitudinal data about passengers, their reasons for travelling, their activities, and their satisfaction with 9 specific areas of service. The results are analysed, discussed and disseminated through the CIC website. In addition, in-depth but less structured consultation takes place as a result of the Directors meeting service users every day on the buses.Indirect beneficiaries include community groups, parish councils and local businesses who are engaged through face-to-face and online meetings. In addition, the Directors attend a number of community events and give presentations to parish and town council meetings, as well as to other bodies.Friends of Moorsbus is an organisation of around 500 members representing users and supporters of Moorsbus. The CIC Directors work closely with this group which forms an important channel of two-way communications.Future generations are the ultimate beneficiary of our work – through positive impacts on society and the environment. To this end we are actively involved in promoting a more equitable transport policy and work hard to ensure the wider public understands the importance of sustainable access for the future wellbeing of the planet.This consultation guides our forward planning, although the aspirations are tempered by what is legal, practical and financially feasible. Our communication is two-way and is shared through many media, including our website, the monthly ‘Moorsbuzz’ newsletter, social media, and through meetings and presentations.

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
14 August 2023

And signed on behalf of the board by:
Name: William Breakell
Status: Director