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COMPANY REGISTRATION NUMBER: SC318178
CHARITY REGISTRATION NUMBER: SC020728
Carrick Community Transport Group Limited
Company Limited by Guarantee
Unaudited Financial Statements
31 March 2024
Carrick Community Transport Group Limited
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2024
Page
Trustees' annual report (incorporating the director's report)
1
Independent examiner's report to the trustees
3
Statement of financial activities (including income and expenditure account)
5
Statement of financial position
6
Notes to the financial statements
7
Carrick Community Transport Group Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 March 2024
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2024 .
Reference and administrative details
Registered charity name
Carrick Community Transport Group Limited
Charity registration number
SC020728
Company registration number
SC318178
Principal office and registered
20 Wellington Square
office
Ayr
KA7 1EZ
The trustees
J W McCreath
C J M Saunders
Independent examiner
James Bell CA
20 Wellington Square
Ayr
KA7 1EZ
Structure, governance and management
Governing document
The company, which is a registered charity in Scotland, is registered as a charitable company limited by guarantee and is governed by the Memorandum and Articles of Association.
Recruitment and appointment of new trustees
The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum and Articles of Association.
Organisational structure
Directors: Chris Saunders, John McCreath
Committee members: John McCreath, Ronald Turnbull, Chris Saunders
Employees: Gwen Campbell
Objectives and activities
Objectives and aims:
To provide a cost-effective service to the Carrick community.
To maintain a minibus fleet that is modern, clean and tidy.
To generate enough funding by fees and/or grants to enable the Transport Group to upkeep the fleet and employ an administrator.
Achievements and performance
CCTG has continued this year to provide accessible transport for groups and schools within the Carrick area. Changes to the fleet over the time period include the selling of Bus SB60 XPC. There is still a drop in bus usage by other groups. We presently have the two buses based in Girvan. We will continue to monitor bus use and acknowledge that the main user of the buses is the Adventure Centre for Education who without their usage would put the viability of the service in jeopardy.
There is still a slow reduction in the number of groups using the buses which we will continue to seek to address.
The prolonged effect of this will determine the direction of the organisation.
We continued to have the buses regularly safety checked and maintained by our local mechanic Colin Davidson. This has caused its difficulty with Colins way of working and not operating a robust booking system. The Adventure Centre for Education have been washing and cleaning the buses on a regular period over the last year.
We have held regular committee meetings but no new members have come forward, we will continue to invite transport users to come on board and help move the organisation forward.
Financial review
Reserves policy
Accumulated cash reserves arising from surpluses (some achieved prior to incorporation) are held in the company's bank account to provide funds for the ongoing maintenance of the vehicles which increase as they deteriorate over their useful economic lives.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 27 January 2025 and signed on behalf of the board of trustees by:
J W McCreath
Trustee
Carrick Community Transport Group Limited
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Carrick Community Transport Group Limited
Year ended 31 March 2024
I report to the trustees on my examination of the financial statements of Carrick Community Transport Group Limited ('the charity') for the year ended 31 March 2024.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities and Trustee Investment (Scotland) Act 2005 (‘the 2005 Act’), the Charities Accounts (Scotland) Regulations 2006 (as amended) and the Companies Act 2006 (‘the 2006 Act’). You are satisfied that the accounts of the company are not required by charity or company law to be audited and have chosen instead to have an independent examination.
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 the charity’s accounts carried out under section 44(1)(c) of the 2005 Act. In carrying out my examination I have followed the requirements of Regulation 11 of the Charities Accounts (Scotland) Regulations 2006 (as amended). Independent examiner's statement
Since the charity is required by company law to prepare its accounts on an accruals basis and is registered as a charity in Scotland your examiner must be a member of a body listed in Regulation 11(2) of the Charities Accounts (Scotland) Regulations 2006 (as amended). I can confirm that I am qualified to undertake the examination because I am a registered member of ICAS which is one of the listed bodies.
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 charity as required by section 386 of the 2006 Act, section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; or
2. the financial statements do not accord with those records or with the accounting requirements of Regulation 8 of the Charities Accounts (Scotland) Regulations 2006; or
3. the financial statements 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 financial statements 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.
James Bell CA Independent Examiner
20 Wellington Square Ayr KA7 1EZ
27 January 2025
Carrick Community Transport Group Limited
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 March 2024
2024
2023
Unrestricted funds
Total funds
Total funds
Note
£
£
£
Income and endowments
Charitable activities
5
11,781
11,781
12,711
Investment income
6
53
53
41
Other income
7
1,118
1,118
--------
--------
--------
Total income
12,952
12,952
12,752
--------
--------
--------
Expenditure
Expenditure on charitable activities
8,9
12,879
12,879
17,528
--------
--------
--------
Total expenditure
12,879
12,879
17,528
--------
--------
--------
--------
--------
--------
Net income/(expenditure) and net movement in funds
73
73
( 4,776)
--------
--------
--------
Reconciliation of funds
Total funds brought forward
16,942
16,942
21,718
--------
--------
--------
Total funds carried forward
17,015
17,015
16,942
--------
--------
--------
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Carrick Community Transport Group Limited
Company Limited by Guarantee
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Tangible fixed assets
15
2,217
3,648
Current assets
Debtors
16
5,375
4,662
Cash at bank and in hand
11,540
14,572
--------
--------
16,915
19,234
Creditors: amounts falling due within one year
17
2,117
5,940
--------
--------
Net current assets
14,798
13,294
--------
--------
Total assets less current liabilities
17,015
16,942
--------
--------
Funds of the charity
Unrestricted funds
17,015
16,942
--------
--------
Total charity funds
18
17,015
16,942
--------
--------
For the year ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 27 January 2025 , and are signed on behalf of the board by:
J W McCreath
Trustee
Carrick Community Transport Group Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in Scotland and a registered charity in Scotland. The address of the registered office is 20 Wellington Square, Ayr, KA7 1EZ.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 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 Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Disclosure exemptions
The charity has taken advantage of the disclosure exemptions available to small companies as permitted by FRS 102.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project 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 two sub-classes: restricted income funds or endowment funds.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; 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 specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement 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 to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity 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 expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result 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 result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments 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 estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Financial instruments
A financial asset or a financial 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 transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, 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 of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Limited by guarantee
The company, which is a registered charity in Scotland, is registered as a charitable company limited by guarantee and is governed by the Memorandum and Articles of Association.
5. Charitable activities
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Vehicle hires
11,656
11,656
12,586
12,586
Affiliation fees
125
125
125
125
--------
--------
--------
--------
11,781
11,781
12,711
12,711
--------
--------
--------
--------
6. Investment income
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Deposit account interest
53
53
41
41
----
----
----
----
7. Other income
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Gain on disposal of tangible fixed assets held for charity's own use
1,118
1,118
-------
-------
----
----
8. Expenditure on charitable activities by fund type
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Charitable activities
11,541
11,541
16,173
16,173
Support costs
1,338
1,338
1,355
1,355
--------
--------
--------
--------
12,879
12,879
17,528
17,528
--------
--------
--------
--------
9. Expenditure on charitable activities by activity type
Activities undertaken directly
Support costs
Total funds 2024
Total fund 2023
£
£
£
£
Charitable activities
11,541
11,541
16,173
Governance costs
1,338
1,338
1,355
--------
-------
--------
--------
11,541
1,338
12,879
17,528
--------
-------
--------
--------
10. Analysis of support costs
Charitable activities
Total 2024
Total 2023
£
£
£
Accountancy
1,338
1,338
1,355
-------
-------
-------
11. Net income/(expenditure)
Net income/(expenditure) is stated after charging/(crediting):
2024
2023
£
£
Depreciation of tangible fixed assets
739
1,216
Gains on disposal of tangible fixed assets
(1,118)
-------
-------
12. Independent examination fees
2024
2023
£
£
Fees payable to the independent examiner for:
Independent examination of the financial statements
1,050
1,067
Other assurance services
288
288
-------
-------
1,338
1,355
-------
-------
13. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
2024
2023
£
£
Wages and salaries
750
750
----
----
The average head count of employees during the year was 1 (2023: 1 ). The average number of full-time equivalent employees during the year is analysed as follows:
2024
2023
No.
No.
Administration
1
1
----
----
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
14. Trustee remuneration and expenses
There were no trustees' remuneration or other benefits for the year ended 31st March 2024 nor for the year ended 31st March 2023.
There were no trustees' expenses paid for the year ended 31st March 2024 nor for the year ended 31st March 2023.
15. Tangible fixed assets
Motor vehicles
£
Cost
At 1 April 2023
56,698
Disposals
( 23,814)
--------
At 31 March 2024
32,884
--------
Depreciation
At 1 April 2023
53,050
Charge for the year
739
Disposals
( 23,122)
--------
At 31 March 2024
30,667
--------
Carrying amount
At 31 March 2024
2,217
--------
At 31 March 2023
3,648
--------
16. Debtors
2024
2023
£
£
Trade debtors
4,440
2,990
Prepayments and accrued income
935
1,672
-------
-------
5,375
4,662
-------
-------
17. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,527
1,850
Social security and other taxes
126
126
Other creditors
464
3,964
-------
-------
2,117
5,940
-------
-------
18. Analysis of charitable funds
Unrestricted funds
At 1 April 2023
Income
Expenditure
At 31 March 2024
£
£
£
£
General funds
16,942
12,952
(12,879)
17,015
--------
--------
--------
--------
At 1 April 2022
Income
Expenditure
At 31 March 2023
£
£
£
£
General funds
21,718
12,752
(17,528)
16,942
--------
--------
--------
--------
19. Analysis of net assets between funds
Unrestricted Funds
Total Funds 2024
£
£
Tangible fixed assets
2,217
2,217
Current assets
16,915
16,915
Creditors less than 1 year
(2,117)
(2,117)
--------
--------
Net assets
17,015
17,015
--------
--------
Unrestricted Funds
Total Funds 2023
£
£
Tangible fixed assets
3,648
3,648
Current assets
19,234
19,234
Creditors less than 1 year
(5,940)
(5,940)
--------
--------
Net assets
16,942
16,942
--------
--------