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REGISTERED COMPANY NUMBER: 01515143 (England and Wales)
REGISTERED CHARITY NUMBER: 1105202











REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

BEXHILL COMMUNITY BUS LIMITED
(A COMPANY LIMITED BY GUARANTEE)

BEXHILL COMMUNITY BUS LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024










Page

Report of the Trustees 1 to 4

Independent Examiner's Report 5

Statement of Financial Activities 6

Balance Sheet 7 to 8

Notes to the Financial Statements 9 to 15

BEXHILL COMMUNITY BUS LIMITED (REGISTERED NUMBER: 01515143)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST DECEMBER 2024



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 December 2024. 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).

OBJECTIVES AND ACTIVITIES
Objectives and aims
To provide a community transport service for such inhabitants of Bexhill and its neighbourhood who are in need of such a service because of age, sickness or disability (mental or physical) or poverty or because of a lack of availability of adequate and safe public passenger services.

Public benefit
The Trustees have had due regard to public benefit guidance published by the Charity Commission, and in their opinion the report on the achievements and performance demonstrates that they have complied therewith.

ACHIEVEMENT AND PERFORMANCE
Charitable activities
Bexhill Community Bus had a very positive year in 2024 with increases in both income and in passenger numbers. The company took delivery of a new minibus in July to replace the 2018 bus.

Passenger numbers were up by over 11% vs. 2023 (the number of fare-paying passengers increasing by nearly 22% and those with concessionary cards by over 9%). Our total passenger numbers of 37,051 were easily our best since 2019 (39,005) however the number of fare-paying passengers at 6,719 was actually better than the 4,527 in 2019.

Income in 2024 was up with increases in cash fares, reimbursement for concessionary cards, fuel rebate and donations. In addition, Hastings Direct agreed to sponsor the 2024 bus and a refund of rates was received from Rother DC. The overall effect of this was that the reduction in reserves to purchase the new bus was less than had been expected.

The plan to take debit card payments was shelved due to the level of card payment fees.

It was decided in October 2024 to increase the level of single fares in 2025 from £1.20 to £1.50 as our prices over the last few years have not kept up with the increase in costs. However, in December 2024 we agreed to participate in the East Sussex CC fare cap scheme which means that from January 2025 we are only charging £1 for a single fare.

Volunteer numbers were slightly up in 2024, but we continue to look for and train new volunteers to ensure continuity of services.


BEXHILL COMMUNITY BUS LIMITED (REGISTERED NUMBER: 01515143)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST DECEMBER 2024


FINANCIAL REVIEW
Financial position
Fare receipts have increased by 7% again this year thanks to a further increase in passenger numbers. Fuel duty rebates increased due to an additional rebate being claimed. Hastings Direct provided support to the bus company in return for an advertisement on the side of the new bus and £1,667 was received for this. A refund of business rates was received in 2024, the refund covering a number of years totalled £4,241.

The costs of running and maintaining the vehicles reduced this year mainly due to savings in fuel and repair costs. The increase in the depreciation charge has been offset by profit on the disposal of the GX18 bus.

There was a surplus overall, before the change in the value of the investments, of £17,381. The investments showed a gain for the year of £8,456 so there was a net increase in funds of £25,837.

A new bus was purchased during the year at a cost of £113,674. The cost was partly offset by the £45,000 received as part exchange proceeds of the GX18 bus. The balance was paid using the proceeds from the sale of investments.

Following the sale of investments to fund the new bus, surplus funds in the bank were later re-invested and at the end of the year total investments held amounted to £192,967. The actual cost of these investments is £162,280 so the overall capital increase equals £30,687.

The surplus for the year of £25,837 has been added to the total funds which now stand at £315,809 to carry forward to next year.

Investment policy and objectives
Spare capital has been invested to produce investment income in a safe environment and the portfolio is managed by Handelsbanken Wealth & Asset Management, the Charity's stockbrokers. Income generated is currently being added to the capital in order to provide Capital growth towards the cost of new buses in the future.

Reserves policy
The Charity will retain sufficient reserves to enable it to deal with the timely replacement of buses and other working assets in line with its regular replacement policy. Reserves are invested with stockbrokers.

FUTURE PLANS
Plans for future periods

In 2025, the company will:
- participate in the East Sussex CC fare cap scheme,
- look to increase passenger numbers further - perhaps through advertising,
- conduct another passenger survey,
- aim to recruit and train more volunteers,
- look for new funding sources, especially grants.

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.

The Company was incorporated on 1st September 1980, subsequently it was agreed in that any taxable profits made would be covenanted to Bexhill Council of Voluntary Services. Due to the winding up of this organisation, the Company sought Charity Commission approval for registration as a Charity in its own right. The application was approved and the Company was registered as a Charity on 29th July 2004. The Charity/Company is controlled by its Memorandum and Articles of Association as amended by Special Resolutions dated 13th May, 9th July 2004 and 16th March 2022.


BEXHILL COMMUNITY BUS LIMITED (REGISTERED NUMBER: 01515143)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST DECEMBER 2024


STRUCTURE, GOVERNANCE AND MANAGEMENT
Structure and management
The power of appointing new or additional Trustees/Directors is vested in the Trustees/Directors.

Any policy decisions are taken by the Trustees/Directors. There were no changes in policy during the year.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
01515143 (England and Wales)

Registered Charity number
1105202

Registered office
Unit 2
Beeching Close
Bexhill-on-Sea
East Sussex
TN39 3YF

Trustees
A L Hymans
S Hardie
J Pacitti
B Drayson
Mrs L Langlands
D Everiss
Mrs E White
A Smale
S A Warcup (appointed 10/4/2024)
A R Loftus (appointed 1/8/2024)

Independent Examiner
David Ashby FCCA ACA
Gibbons Mannington & Phipps LLP
Chartered Accountants
20 Eversley Road
Bexhill-on-Sea
East Sussex
TN40 1HE

Bankers
Lloyds TSB Bank
11/13 Devonshire Road
Bexhill-on-Sea
East Sussex
TN40 1AQ

Solicitors
Gaby Hardwicke
34 Wellington Square
Hastings,
East Sussex
TN34 1PN

Stockbrokers
Handelsbanken Wealth & Asset Management
No 1 Kingsway,
London
WC2B 6AN

BEXHILL COMMUNITY BUS LIMITED (REGISTERED NUMBER: 01515143)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST DECEMBER 2024



Approved by order of the board of trustees on 2nd April 2025 and signed on its behalf by:





A Smale - Trustee

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
BEXHILL COMMUNITY BUS LIMITED


Independent examiner's report to the trustees of Bexhill Community Bus Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st December 2024.

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.








David Ashby FCCA ACA

Gibbons Mannington & Phipps LLP
Chartered Accountants
20 Eversley Road
Bexhill-on-Sea
East Sussex
TN40 1HE

9th April 2025

BEXHILL COMMUNITY BUS LIMITED

STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31ST DECEMBER 2024

2024 2023
Unrestricted Restricted Total Total
fund fund funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 3,076 - 3,076 2,200

Charitable activities
Fare receipts 36,425 - 36,425 34,057
Fuel duty rebates 6,019 - 6,019 3,699
Garage rents 2,100 - 2,100 2,000

Other trading activities 3 1,667 - 1,667 -
Investment income 4 236 - 236 1,621
Other income 5 4,241 - 4,241 -
Total 53,764 - 53,764 43,577

EXPENDITURE ON
Charitable activities 6
Community buses 23,562 - 23,562 36,180
Office and other costs 10,755 - 10,755 9,493
Garage costs 2,066 - 2,066 5,232
Total 36,383 - 36,383 50,905

Net gains on investments 8,456 - 8,456 7,109

NET INCOME/(EXPENDITURE) 25,837 - 25,837 (219 )


RECONCILIATION OF FUNDS
Total funds brought forward 289,972 - 289,972 290,191

TOTAL FUNDS CARRIED FORWARD 315,809 - 315,809 289,972

BEXHILL COMMUNITY BUS LIMITED (REGISTERED NUMBER: 01515143)

BALANCE SHEET
31ST DECEMBER 2024

2024 2023
Unrestricted Restricted Total Total
fund fund funds funds
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 12 109,682 - 109,682 47,179
Investments 13 192,967 - 192,967 229,511
302,649 - 302,649 276,690

CURRENT ASSETS
Debtors 14 2,554 - 2,554 6,200
Cash at bank and in hand 11,807 - 11,807 9,816
14,361 - 14,361 16,016

CREDITORS
Amounts falling due within one year 15 (1,201 ) - (1,201 ) (2,734 )

NET CURRENT ASSETS 13,160 - 13,160 13,282

TOTAL ASSETS LESS CURRENT
LIABILITIES

315,809

-

315,809

289,972

NET ASSETS 315,809 - 315,809 289,972
FUNDS 17
Unrestricted funds 315,809 289,972
TOTAL FUNDS 315,809 289,972

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 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.


BEXHILL COMMUNITY BUS LIMITED (REGISTERED NUMBER: 01515143)

BALANCE SHEET - continued
31ST DECEMBER 2024

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 2nd April 2025 and were signed on its behalf by:





D Everiss - Trustee





A Smale - Trustee

BEXHILL COMMUNITY BUS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024


1. 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, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Financial reporting standard 102 - reduced disclosure exemptions
The charitable company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

the requirements of Section 7 Statement of Cash Flows.

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.

Government grants are recognised when the charity becomes unconditionally entitled to the grant.

For legacies, entitlement is when probate is granted, the amount known, there are sufficient funds available for distribution or when a distribution is 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


Leasehold property - Straight line over the life of the lease
Bus equipment - 20% on cost
Office furniture and fittings - 20% on cost
Community buses - 25% on reducing balance

Taxation
The charity is exempt from corporation tax on its charitable activities.

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

BEXHILL COMMUNITY BUS LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


1. ACCOUNTING POLICIES - continued

Cash at bank
Cash at bank includes cash and short term highly liquid investments.

Debtors
Debtors are recognised at their recoverable amounts to which the charity is entitled.

Creditors
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. Creditors are normally recognised at their settlement value.

2. DONATIONS AND LEGACIES
2024 2023
£    £   
Passenger and other donations 1,892 941
Gift aid tax recoverable 358 133
Grants 826 1,126
3,076 2,200

Grants received, included in the above, are as follows:

2024 2023
£    £   
East Sussex County Council 826 826
Government fuel grant - 300
826 1,126

3. OTHER TRADING ACTIVITIES
2024 2023
£    £   
Adverts on community buses 1,667 -

4. INVESTMENT INCOME
2024 2023
£    £   
Dividends and interest 236 1,621

5. OTHER INCOME
2024 2023
£    £   
Business rates refund 4,241 -


BEXHILL COMMUNITY BUS LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


6. CHARITABLE ACTIVITIES COSTS
Direct Support
Costs (see costs (see
note 7) note 8) Totals
£    £    £   
Community buses 23,562 - 23,562
Office and other costs 9,641 1,114 10,755
Garage costs 2,066 - 2,066
35,269 1,114 36,383

7. DIRECT COSTS OF CHARITABLE ACTIVITIES
2024 2023
£    £   
Vehicle tax and insurance 3,924 3,481
Fuel and oil 8,389 9,459
Vehicles repairs and servicing 3,593 6,063
Annual ticket software 1,584 1,584
Office rent, rates, light and heat 6,376 5,550
Office repairs 391 170
Garage expenses 2,066 5,232
Stationery, postage, computer expenses and advertising 381 920
Telephone (inc. broadband) 408 498
Sundry expenses 839 564
Fuel card charges 162 634
Medicals 889 -
Training costs 96 -
Depreciation 36,760 15,692
Profit on sale of bus (30,589 ) -
35,269 49,847

8. SUPPORT COSTS
Governance
costs
£   
Office and other costs 1,114

Support costs, included in the above, are as follows:

Governance costs
2024 2023
Office
and other Total
costs activities
£    £   
Annual return fee 34 13
Accountancy 715 705
Independent examination fees 365 340
1,114 1,058


BEXHILL COMMUNITY BUS LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


9. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2024 2023
£    £   
Depreciation - owned assets 36,760 15,692
Surplus on disposal of fixed assets (30,589 ) -

10. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31st December 2024 nor for the year ended 31st December 2023.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31st December 2024 nor for the year ended 31st December 2023.


11. STAFF COSTS

There were no staff costs for the year ended 31st December 2024 nor for the year ended 31st December 2023.

12. TANGIBLE FIXED ASSETS
Office
furniture
Leasehold Bus and Community
property equipment fittings buses Totals
£    £    £    £    £   
COST
At 1st January 2024 58,976 3,206 1,905 175,980 240,067
Additions - - - 113,674 113,674
Disposals - - - (85,400 ) (85,400 )
At 31st December 2024 58,976 3,206 1,905 204,254 268,341
DEPRECIATION
At 1st January 2024 58,976 1,409 1,505 130,998 192,888
Charge for year - 599 99 36,062 36,760
Eliminated on disposal - - - (70,989 ) (70,989 )
At 31st December 2024 58,976 2,008 1,604 96,071 158,659
NET BOOK VALUE
At 31st December 2024 - 1,198 301 108,183 109,682
At 31st December 2023 - 1,797 400 44,982 47,179

The leasehold property consists of a garage to house community buses on land leased from Rother District Council for a period of twenty one years from 23rd October 2000 at an initial rent of one peppercorn (if demanded).


BEXHILL COMMUNITY BUS LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


13. FIXED ASSET INVESTMENTS
Listed
investment
£   
MARKET VALUE
At 1st January 2024 229,511
Additions 22,000
Disposals (65,634 )
Unrealised gain/(loss) 7,090
At 31st December 2024 192,967
NET BOOK VALUE
At 31st December 2024 192,967
At 31st December 2023 229,511

At the year end there were no investment assets outside the UK.

The historical cost of the listed investments is £162,280.

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 43 4,215
VAT 361 192
Prepayments 2,150 1,793
2,554 6,200

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 114 1,686
Other creditors 1,084 1,045
Accrued expenses 3 3
1,201 2,734

16. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024 2023
£    £   
Within one year 1,170 1,170
Between one and five years - 4,680
1,170 5,850


BEXHILL COMMUNITY BUS LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


17. MOVEMENT IN FUNDS
Net
movement At
At 1/1/24 in funds 31/12/24
£    £    £   
Unrestricted funds
General fund 289,972 25,837 315,809

TOTAL FUNDS 289,972 25,837 315,809

Net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£    £    £    £   
Unrestricted funds
General fund 53,764 (36,383 ) 8,456 25,837

TOTAL FUNDS 53,764 (36,383 ) 8,456 25,837


Comparatives for movement in funds

Net
movement At
At 1/1/23 in funds 31/12/23
£    £    £   
Unrestricted funds
General fund 290,191 (219 ) 289,972

TOTAL FUNDS 290,191 (219 ) 289,972

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£    £    £    £   
Unrestricted funds
General fund 42,751 (50,079 ) 7,109 (219 )

Restricted funds
Electronic ticket machines 826 (826 ) - -

TOTAL FUNDS 43,577 (50,905 ) 7,109 (219 )

Restricted funds
Electronic ticket machines fund - A grant was received from East Sussex County Council towards the cost of the annual software fees.


BEXHILL COMMUNITY BUS LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


18. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the financial statements - 109,147

At 31st December 2023 the charity was committed to purchase a new bus. The contract was signed and deposit paid on 3rd July 2023 and the purchase was completed on 16th July 2024.

19. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31st December 2024.

20. LIMITED LIABILITY OF MEMBERS

The liability of the members is limited to a sum of £10 being the amount that each member undertakes to contribute to the assets of the Charity in the event of its being wound up while he, she or it is a member or within one year after he, she or it ceases to be a member, for

(1) payment of the charity's debts and liabilities incurred before he or she or it eases to be a member;
(2) payment of the costs charges and expenses of winding up;
(3) adjustment of the rights of the contributories among themselves.

21. SCHEDULE OF BUSES

RJ24AHA GX18ABV RX20RNJ Total
£ £ £ £
Cost
At 1st January 2024 0 85,400 90,580 175,980
Addition during the year 113,674 0 0 113,674
Disposal during the year 0 (85,400 ) 0 (85,400 )
At 31st December 2024 113,674 0 90,580 204,254
Depreciation
At 1st January 2024 0 70,989 60,009 130,998
Charge for the year 28,419 0 7,643 36,062
On disposal 0 (70,989 ) 0 (70,989 )
At 31st December 2024 28,419 0 67,652 96,071
Net book value
At 31st December 2024 85,255 0 22,928 108,183
At 31st December 2023 0 14,411 30,571 44,982