REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2023 |
FOR |
RYE & DISTRICT COMMUNITY TRANSPORT |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2023 |
FOR |
RYE & DISTRICT COMMUNITY TRANSPORT |
RYE & DISTRICT COMMUNITY TRANSPORT |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2023 |
Page |
Report of the Trustees | 1 | to | 3 |
Independent Examiner's Report | 4 |
Statement of Financial Activities | 5 |
Balance Sheet | 6 | to | 7 |
Notes to the Financial Statements | 8 | to | 14 |
RYE & DISTRICT COMMUNITY TRANSPORT (REGISTERED NUMBER: 03898093) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31ST MARCH 2023 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st March 2023. The trustees have adopted the provisions of 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 2019). |
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities published on 16 July 2014. |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The objectives of the Charity are to provide and maintain non-profit community transport services and to assist the charitable work of other organisations providing relief to the inhabitants of Rye and district who are in need because of age, mental or physical disability or otherwise. The focus of the Charity's activities must always be public benefit - the Charity's strength is entirely due to its position within the community. |
The trustees have regard to the Charity Commissions guidance on public benefit. |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
RDCT has maintained its delivery of core services to the community (under Section 19 & 22 permits) as efficiently and cost effectively as possible given the cost of living pressures and the big increase in fuel costs. This has emphasised the importance of its services for local primary schools, helping to provide pupils with as good a range of academic and sporting activities as possible as their education recovers from Covid-19 restrictions, and also of the Homewood School service which provides transport for a significant number of SEND children (far greater than pre-Covid). The Dial-a-Ride now carries more passengers going to well-being activities (the Hub on Rye Hill is a key destination) although many of the medical appointments catered for are for residents of the villages around Rye who come to the Rye surgeries (medical and dental) and Rye Hospital for treatment. The 326 Rye Town bus service (operated under a Section 22 permit) continues to be an invaluable resource for the town |
FINANCIAL REVIEW |
Financial review |
During the past year the Directors' efforts have continued to concentrate on stabilising the Charity's financial position and focussing on a business strategy to ensure ongoing viability. The cost base for RDCT is high but the Permits only allow for recovery of certain operating costs from passengers and excludes any administrative expense. This means that the charity relies heavily on community funding for support. Organisations such as the Friends of Rye Hospital; Rye Town Council; the Rye Fund, Icklesham Parish Council and Jempsons have all supported the Charity during the year and much is also done by other fund raising initiatives. It is also extremely grateful for very generous donations from the public who have used the service and value its contribution to their transport needs |
We have also ensured that reserves should be sufficient to permit operations to continue for at least 12 months in the event of a major downturn in income and to help build up funds for any future bus replacement. This has been against a tough economic background of increased fuel and maintenance costs particularly but also in the face of squeezed income. Every effort is made to cut operational costs where possible |
The results for the year ended 31 March 2023 produced a break even position before depreciation which was within budget forecast and considered satisfactory bearing in mind operational and economic circumstances. |
The Trustees would like to thank the Operations Manager for her unstinting commitment to the Bus Company, the employees and all the volunteers who do so much to ensure we continue to provide an excellent and much appreciated community service. |
RYE & DISTRICT COMMUNITY TRANSPORT (REGISTERED NUMBER: 03898093) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31ST MARCH 2023 |
FINANCIAL REVIEW |
Reserves policy |
Part of the considerable surplus from the Section 106 monies awarded in 2019 for the purchase of the new bus for the 326 service is ring-fenced for running costs over 3 years and cannot be regarded as a reserve. The year under review sees the final year of this condition, However, noting the ongoing funding needs, the Charity is aware of the need to build up reserves and considers that £20,000 would be a prudent figure. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity 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. |
Recruitment and appointment of new trustees |
Trustees are recruited and appointed from members of the local community who wish to assist the charity. |
Risk management |
The Trustees continue to work to ensure that risks to which the charity is exposed are identified and dealt with appropriately, with particular regard to fraud and error and the safety of passengers and drivers. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
No director has any beneficial interest in the charitable company. All directors are appointed representatives of member organisations who have guaranteed to contribute £1 in the event of a winding up. The number of guarantees at 31 March 2023 was 25. |
Company Secretary |
Independent Examiner |
Richard Appleyard FCA |
Gibbons Mannington & Phipps LLP |
Chartered Accountants |
82 High Street |
Tenterden |
Kent |
TN30 6JG |
RYE & DISTRICT COMMUNITY TRANSPORT (REGISTERED NUMBER: 03898093) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31ST MARCH 2023 |
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. |
Approved by order of the board of trustees on |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
RYE & DISTRICT COMMUNITY TRANSPORT |
Independent examiner's report to the trustees of Rye & District Community Transport ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st March 2023. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
Independent examiner's statement |
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or |
4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. |
Richard Appleyard FCA |
Gibbons Mannington & Phipps LLP |
Chartered Accountants |
82 High Street |
Tenterden |
Kent |
TN30 6JG |
1st December 2023 |
RYE & DISTRICT COMMUNITY TRANSPORT |
STATEMENT OF FINANCIAL ACTIVITIES |
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) |
FOR THE YEAR ENDED 31ST MARCH 2023 |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Other trading activities | 3 |
Investment income | 4 |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 50,037 |
RYE & DISTRICT COMMUNITY TRANSPORT (REGISTERED NUMBER: 03898093) |
BALANCE SHEET |
31ST MARCH 2023 |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 10 |
CURRENT ASSETS |
Debtors | 11 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 12 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 13 |
Unrestricted funds: |
General fund | 32,123 | 33,772 |
Restricted funds | 16,265 |
TOTAL FUNDS | 50,037 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
RYE & DISTRICT COMMUNITY TRANSPORT (REGISTERED NUMBER: 03898093) |
BALANCE SHEET - continued |
31ST MARCH 2023 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
RYE & DISTRICT COMMUNITY TRANSPORT |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2023 |
1. | STATUTORY INFORMATION |
Rye & District Community Transport is a private charitable company limited by guarantee, registered in England and Wales. The company's registered number and registered office address can be found in the reference and administrative details in the Report of the Trustees. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Government grants |
Government grants are recognised and accounted for under the performance model. |
Grants that do not specify any future performance-related conditions are recorded when the grant proceeds are received or receivable. Any grant that imposes specified future performance-related conditions is recognised only when the performance-related conditions are met. Grants received before the revenue recognition criteria are satisfied are recognised as a liability. |
Tangible fixed assets |
Fixed assets are recorded at cost or, in cases where fixed assets have been donated to the Charity, at valuation at the time of acquisition. |
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows: |
Office equipment 20% on written down value |
Motor vehicles 25% on written down value |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
As all the activities of the charity are within its primary objective to provide non-profit community transport services, it has not been considered necessary to designate any funds or show any funds as restricted. |
Where funds are received for a significant and specific project these are allocated to restricted funds. |
Donated services |
Donated services are included at a value equivalent to market value at the date of donation. |
RYE & DISTRICT COMMUNITY TRANSPORT |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2023 |
2. | ACCOUNTING POLICIES - continued |
Debtors and creditors |
Debtors and creditors are recognised at their settlement amount after allowing for any trade discounts. |
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. |
3. | OTHER TRADING ACTIVITIES |
2023 | 2022 |
£ | £ |
Fundraising events |
Social lotteries | 5,390 | 5,330 |
4. | INVESTMENT INCOME |
2023 | 2022 |
£ | £ |
Deposit account interest |
5. | SUPPORT COSTS |
Governance |
Management | Finance | costs | Totals |
£ | £ | £ | £ |
Operation of bus service | 17,173 | 356 | 1,330 | 18,859 |
Support costs, included in the above, are as follows: |
Governance costs |
2023 | 2022 |
Operation |
of bus | Total |
service | activities |
£ | £ |
Independent examination | 432 | 1,130 |
Accountancy fees | 898 | 155 |
1,330 | 1,285 |
6. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2023 | 2022 |
£ | £ |
Depreciation - owned assets |
RYE & DISTRICT COMMUNITY TRANSPORT |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2023 |
7. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31st March 2023 nor for the year ended 31st March 2022. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31st March 2023 nor for the year ended 31st March 2022. |
8. | STAFF COSTS |
2023 | 2022 |
£ | £ |
Wages and salaries |
60,962 | 43,968 |
The average monthly number of employees during the year was as follows: |
2023 | 2022 |
Drivers | 3 | 2 |
Administration | 1 | 1 |
There were no higher paid staff for the year ended 31st March 2023 nor for the year ended 31st March 2022. |
9. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Other trading activities |
Investment income |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
RYE & DISTRICT COMMUNITY TRANSPORT |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2023 |
9. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
RECONCILIATION OF FUNDS |
Total funds brought forward | 36,837 | 21,553 |
TOTAL FUNDS CARRIED FORWARD | 33,772 | 16,265 | 50,037 |
10. | TANGIBLE FIXED ASSETS |
Office | Motor |
equipment | vehicles | Totals |
£ | £ | £ |
COST |
At 1st April 2022 and 31st March 2023 |
DEPRECIATION |
At 1st April 2022 |
Charge for year |
At 31st March 2023 |
NET BOOK VALUE |
At 31st March 2023 |
At 31st March 2022 |
11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments |
12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Social security and other taxes |
Other creditors |
Deferred income | - | 7,311 |
RYE & DISTRICT COMMUNITY TRANSPORT |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2023 |
13. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1/4/22 | in funds | 31/3/23 |
£ | £ | £ |
Unrestricted funds |
General fund | 33,772 | (1,649 | ) | 32,123 |
Restricted funds |
20/20 | 798 | (199 | ) | 599 |
Bus Fund | 15,467 | (3,809 | ) | 11,658 |
(4,008 | ) |
TOTAL FUNDS | (5,657 | ) | 44,380 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 119,860 | (121,509 | ) | (1,649 | ) |
Restricted funds |
20/20 | - | (199 | ) | (199 | ) |
Bus Fund | - | (3,809 | ) | (3,809 | ) |
( |
) | (4,008 | ) |
TOTAL FUNDS | ( |
) | (5,657 | ) |
Comparatives for movement in funds |
Net |
movement | At |
At 1/4/21 | in funds | 31/3/22 |
£ | £ | £ |
Unrestricted funds |
General fund | 36,837 | (3,065 | ) | 33,772 |
Restricted funds |
20/20 | 1,063 | (265 | ) | 798 |
Bus Fund | 20,490 | (5,023 | ) | 15,467 |
21,553 | (5,288 | ) | 16,265 |
TOTAL FUNDS | 58,390 | (8,353 | ) | 50,037 |
RYE & DISTRICT COMMUNITY TRANSPORT |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2023 |
13. | MOVEMENT IN FUNDS - continued |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 97,908 | (100,973 | ) | (3,065 | ) |
Restricted funds |
20/20 | - | (265 | ) | (265 | ) |
Bus Fund | - | (5,023 | ) | (5,023 | ) |
- | (5,288 | ) | (5,288 | ) |
TOTAL FUNDS | 97,908 | (106,261 | ) | (8,353 | ) |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1/4/21 | in funds | 31/3/23 |
£ | £ | £ |
Unrestricted funds |
General fund | 36,837 | (4,714 | ) | 32,123 |
Restricted funds |
20/20 | 1,063 | (464 | ) | 599 |
Bus Fund | 20,490 | (8,832 | ) | 11,658 |
21,553 | (9,296 | ) | 12,257 |
TOTAL FUNDS | 58,390 | (14,010 | ) | 44,380 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 217,768 | (222,482 | ) | (4,714 | ) |
Restricted funds |
20/20 | - | (464 | ) | (464 | ) |
Bus Fund | - | (8,832 | ) | (8,832 | ) |
- | (9,296 | ) | (9,296 | ) |
TOTAL FUNDS | 217,768 | (231,778 | ) | (14,010 | ) |
The 20/20 fundraising appeal was set up to mark the Charity's 20th anniversary and allowed the replacement of 2 buses. All funds have been spent and the balance on the fund represents the carrying value of the fixed assets acquired. |
RYE & DISTRICT COMMUNITY TRANSPORT |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2023 |
13. | MOVEMENT IN FUNDS - continued |
The restricted fund is made up of a grant received to help towards the running costs of the 326 service which will cover three financial years and will be drawn down on an adhoc basis, the full amount has been deferred at the balance sheet date and is represented by the cash at bank figure. |
The bus fund consists of grants and donations which were used to complete the purchase of the new Dial-a-Ride bus and the purchase and fit-out of the replacement to FN04 NLM (written off in an accident). A small amount of these funds still remains and will be used to cover the costs of any further equipment required. |
14. | RELATED PARTY DISCLOSURES |
15. | ULTIMATE CONTROLLING PARTY |
The company is controlled by the Board of Trustees. |
16. | GOVERNMENT GRANT INCOME |
The charity received £4,000 in the year in the form of financial assistance from local government. |
Included in the above figure, is £4,000 which was unrestricted in relation to helping towards the general running costs of the charity. |
The funds received from Government and its Agencies were:- £2,000 from Icklesham Parish Council and £2,000 from Rye Town Council. |