Charity registration number 1129560
Company registration number 06874791 (England and Wales)
EXETER COMMUNITY TRANSPORT ASSOCIATION
(A COMPANY LIMITED BY GUARANTEE)
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
EXETER COMMUNITY TRANSPORT ASSOCIATION
(A COMPANY LIMITED BY GUARANTEE)
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr I J Martin
Mrs J A Gale
Mr W P Williams
Mr G J Prowse
Mr C P Norton
Mrs C M Hunt
Secretary
Mrs E S Steele
Charity number
1129560
Company number
06874791
Registered office
8-10 Paris Street
Exeter
Devon
EX1 1GA
Accountants
Darnells Chartered Accountants
3rd Floor
The Forum
Barnfield Road
Exeter
Devon
EX1 1QR
EXETER COMMUNITY TRANSPORT ASSOCIATION
(A COMPANY LIMITED BY GUARANTEE)
CONTENTS
Page
Trustee's report
1 - 2
Independent examiner's report
3
Statement of financial activities
4
Balance sheet
5
Notes to the accounts
6 - 14
EXETER COMMUNITY TRANSPORT ASSOCIATION
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEE'S REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2023
- 1 -

The trustees present their annual report and financial statements for the year ended 31 March 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the association's Memorandum and Articles of Association dated 9 April 2009, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016).

Objectives and activities

The trusts objective is to provide mobility aids to assist the disabled residents of Exeter and the surrounding district.

The trust have paid due regard to guidance issued by the Charity Commission in deciding what activities the trust should undertake.

The activity of the charity is that of running and maintaining a fleet of mobility vehicles based in Paris Street, Exeter in furtherance of its objectives as detailed above.

Achievements and performance

The trust has endeavoured to maintain the provision of mobility services under difficult economic conditions and is indebted to its dedicated band of staff and volunteers in achieving this.

Financial review

It is the policy of the association that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the association’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has increased this year.

Risk management:

The trust has assessed the major risks to which the trust is exposed, and is satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The trust is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The trustees, who are also the directors for the purpose of company law, and who served during the year were:

Mr I J Martin
Mrs J A Gale
Mr W P Williams
Mr G J Prowse
Mr C P Norton
Mrs C M Hunt
Mrs N E Warner
(Resigned 13 September 2022)

Recruitment and appointment of trustees:

Under the requirements of the Articles of Association, trustees are elected for a period of three years after which they must be re-elected at the next Annual General Meeting. Trustees annually review the period of service.

All the trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed by the trustees from the charity are set out in note 9 to the financial statements.

 

Organisational structure:

The charity is administered by Mr Michael Ellis, General Manager, who reports to the trustees.

EXETER COMMUNITY TRANSPORT ASSOCIATION
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEE'S REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -

On behalf of the board of trustees

Mrs J A Gale
Trustee
Dated: 21 November 2023
EXETER COMMUNITY TRANSPORT ASSOCIATION
(A COMPANY LIMITED BY GUARANTEE)
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF EXETER COMMUNITY TRANSPORT ASSOCIATION
- 3 -

I report on the financial statements of the association for the year ended 31 March 2023, which are set out on pages 4 to 14.

Respective responsibilities of trustees and examiner

The association’s trustees, who are also the directors of Exeter Community Transport Association for the purposes of company law, are responsible for the preparation of the financial statements. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

(i)

examine the financial statements under section 145 of the 2011 Act;

(ii)
to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
(iii)
to state whether particular matters have come to my attention.
Basis of independent examiner's report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the financial statements present a ‘true and fair view’ and the report is limited to those matters set out in the next statement.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

(a)
which gives me reasonable cause to believe that in any material respect the requirements:
(i)

to keep accounting records in accordance with section 386 of the Companies Act 2006; and

(ii)

to prepare financial statements which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities;

have not been met or
(b)

to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.

Sean Murphy
Darnells Chartered Accountants
3rd Floor
The Forum
Barnfield Road
Exeter
Devon
EX1 1QR
Dated: 22 November 2023
EXETER COMMUNITY TRANSPORT ASSOCIATION
(A COMPANY LIMITED BY GUARANTEE)
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
Unrestricted
Restricted
Total
Total
funds
funds
2023
2022
Notes
£
£
£
£
Income and endowments from:
Donations and legacies
3
61,997
-
61,997
105,435
Charitable activities
5
60,683
-
60,683
48,270
Investments
4
459
-
459
312
Other income
6
60
-
60
3,821
Total income
123,199
-
123,199
157,838
Expenditure on:
Charitable activities
7
129,921
9,776
139,697
115,290
Net (expenditure)/income for the year/
Net movement in funds
(6,722)
(9,776)
(16,498)
42,548
Fund balances at 1 April 2022
40,360
128,224
168,584
126,037
Fund balances at 31 March 2023
33,638
118,448
152,086
168,585

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
EXETER COMMUNITY TRANSPORT ASSOCIATION
(A COMPANY LIMITED BY GUARANTEE)
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 5 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
13
92,515
101,460
Current assets
Debtors
15
8,421
9,107
Cash at bank and in hand
62,758
69,487
71,179
78,594
Creditors: amounts falling due within one year
16
(11,608)
(11,469)
Net current assets
59,571
67,125
Total assets less current liabilities
152,086
168,585
Income funds
Restricted funds
17
118,448
128,225
Unrestricted funds
33,638
40,360
152,086
168,585

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2023.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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 Trustees on 7 November 2023
Mrs J A Gale
Trustee
Company registration number 06874791
EXETER COMMUNITY TRANSPORT ASSOCIATION
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
1
Accounting policies
Charity information

Exeter Community Transport Association is a private company limited by guarantee incorporated in England and Wales. The registered office is 8-10 Paris Street, Exeter, Devon, EX1 1GA.

 

The Trust is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liabilty in respect of the guarantee is limited to £10 per member of charity.

1.1
Accounting convention

The financial statements have been prepared in accordance with the association's Memorandum and Articles of Association, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016). The association is a Public Benefit Entity as defined by FRS 102.

 

The association has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the association. Monetary amounts in these financial statements are rounded to the nearest £.

The accounts have been prepared under the historical cost convention.The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the association has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the association.
1.4
Incoming resources
Income is recognised when the association is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the association has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the association has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services provided in the normal course of business, net of discounts.

EXETER COMMUNITY TRANSPORT ASSOCIATION
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 7 -
1.5
Resources expended

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

 

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6
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:

Land and buildings
25% straight line basis
Plant and machinery
6 years straight line basis
Computers
25% reducing balance basis
Motor vehicles
25% straight line basis/10% 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 recognised in the statement of financial activities.

1.7
Financial instruments

The association 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 association's balance sheet when the association 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.

EXETER COMMUNITY TRANSPORT ASSOCIATION
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 8 -
Basic financial liabilities

Basic financial liabilities, including creditors and bank loans 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 operations 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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the association’s contractual obligations expire or are discharged or cancelled.

2
Critical accounting estimates and judgements

In the application of the association’s accounting policies, the trustees 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.

Depreciation

The main estimate is the depreciation policy applied to motor vehicles and mobility scooters.

3
Donations and legacies
Unrestricted
Unrestricted
Restricted
Total
funds
funds
funds
2023
2022
2022
2022
£
£
£
£
Donations and gifts
61,997
38,915
66,520
105,435

All donations and legacies were received from donors within the United Kingdom.

EXETER COMMUNITY TRANSPORT ASSOCIATION
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 9 -
4
Investments
2023
2022
£
£
Interest receivable
459
312
5
Charitable activities
2023
2022
£
£
Grants - ECTA
19,385
75,227
Grants - Ring & Ride
-
21,236
Grants - 4R's project
15,000
-
General charitable activities
25,238
18,327
59,623
114,790
6
Other income
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Coronavirus job retention scheme grant
-
1,396

Other income

 

60
2,425
60
3,821

Other income includes the following:

 

ECTA £60 (2022: £2,295 )

4R's Project £0 (2022: £130)

 

EXETER COMMUNITY TRANSPORT ASSOCIATION
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 10 -
7
Charitable activities
Restricted funds
Unrestricted funds
Total
Total
2023
2023
2023
2022
£
£
£
£
Depreciation and impairment
9,776
-
9,776
9,564

Activities undertaken directly

-
891
891
403

Volunteer and employee expenses

-
4,287
4,287
4,777

Computer expenses

-
6,121
6,121
3,238
9,776
11,299
21,075
17,982
Share of support costs (see note 8)
-
116,408
116,408
95,238
Share of governance costs (see note 8)
-
2,214
2,214
2,070
9,776
129,921
139,697
115,290
Analysis by fund
Unrestricted funds
-
129,921
129,921
105,726
Restricted funds
9,776
-
9,776
9,564
9,776
129,921
139,697
115,290
For the year ended 31 March 2022
Unrestricted funds
-
105,726
105,726
Restricted funds
9,564
-
9,564
9,564
105,726
115,290
EXETER COMMUNITY TRANSPORT ASSOCIATION
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 11 -
8
Support costs
Support costs
Governance costs
2023
2022
£
£
£
£
Staff costs
76,175
-
76,175
66,416
Depreciation
4,505
-
4,505
3,975
Bank charges
376
-
376
221

Rates and water

334
-
334
352

Insurance

2,959
-
2,959
4,919

Printing, postage and stationery

792
-
792
838

Light and heat

4,206
-
4,206
1,330

Repairs

7,907
-
7,907
10,829

Sundry

230
-
230
11

Telephone

4,169
-
4,169
1,146

Motor expenses

13,659
-
13,659
4,781

Staff and volunteer expenses

1,018
-
1,018
420
Accountancy
-
2,214
2,214
2,070
Legal and professional
-
78
78
-
116,330
2,292
118,622
97,308
Analysed between
Charitable activities
116,408
2,214
118,622
97,308

Governance costs include accountancy fees of £2,214 (2022- £2,070).

9
Trustees

No trustees received reimbursed expenses in the year.

10
Employees

The average monthly number of employees during the year was:

2023
2022
Number
Number
6
5
Employment costs
2023
2022
£
£
Wages and salaries
76,175
66,416
There were no employees whose annual remuneration was more than £60,000.
EXETER COMMUNITY TRANSPORT ASSOCIATION
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 12 -
11
Ring and ride Income and expenditure

The income and expenses of the association is derived from a number of activities, one of which is the Ring and Ride bus service which constitutes 3.2% of the total income (2022: 2.7%). Similarly, the expenditure relating to the Ring and Ride service constitutes 15.3% (2022: 15.4%) of total expenditure.

 

12
Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

13
Tangible fixed assets
Land and buildings
Plant and machinery
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 April 2022
2,988
41,900
19,365
111,880
176,133
Additions
-
631
4,705
-
5,336
At 31 March 2023
2,988
42,531
24,070
111,880
181,469
Depreciation and impairment
At 1 April 2022
2,988
32,997
18,431
20,257
74,673
Depreciation charged in the year
-
4,316
822
9,143
14,281
At 31 March 2023
2,988
37,313
19,253
29,400
88,954
Carrying amount
At 31 March 2023
-
5,218
4,817
82,480
92,515
At 31 March 2022
-
8,903
935
91,623
101,460
EXETER COMMUNITY TRANSPORT ASSOCIATION
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 13 -
14
Financial instruments
2023
2022
£
£
Carrying amount of financial liabilities
Measured at amortised cost
10,413
10,413
15
Debtors
2023
2022
Amounts falling due within one year:
£
£
Prepayments and accrued income
8,421
9,107
16
Creditors: amounts falling due within one year
2023
2022
£
£
Other taxation and social security
1,195
1,056
Trade creditors
602
602
Accruals and deferred income
9,811
9,811
11,608
11,469
17
Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
Balance at
1 April 2022
Resources expended
Balance at
31 March 2023
£
£
£
Bus fund
50,648
(9,143)
41,505
Cabin car and scooters fund
11,056
(633)
10,423
New bus fund
66,520
-
66,520
128,224
(9,776)
118,448

Bus fund

Bus fund represents money raised for the purchase of our own bus to end reliance on the bus leased from Devon County Council.

 

Cabin car and scooters fund

Represents funds raised for the purchase of cabin car and scooters.

 

 

 

EXETER COMMUNITY TRANSPORT ASSOCIATION
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 14 -
18
Analysis of net assets between funds

Unrestricted funds

Restricted funds

Total
Total
2023
2023
2023
2022
£
£
£
£
Fund balances at 31 March 2023 are represented by:
Tangible assets
92,515
-
92,515
101,460
Current assets/(liabilities)
59,571
-
59,571
67,125
152,086
-
152,086
168,585
19
Related party transactions

There were no disclosable related party transactions during the year (2022 - none).

 

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