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COMPANY REGISTRATION NUMBER: 04673954
CHARITY REGISTRATION NUMBER: 1102302
RAKAT CT LTD
Company Limited by Guarantee
Unaudited Financial Statements
31 March 2025
RAKAT CT LTD
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2025
Page
Trustees' annual report (incorporating the director's report)
1
Independent examiner's report to the trustees
9
Statement of financial activities (including income and expenditure account)
10
Statement of financial position
11
Statement of cash flows
12
Notes to the financial statements
13
RAKAT CT LTD
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 March 2025
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 2025 .
Reference and administrative details
Registered charity name
RAKAT CT LTD
Charity registration number
1102302
Company registration number
04673954
Principal office and registered
Liz Mills Depot
office
32 Wellington Crescent
New Malden
Surrey
KT3 3NE
The trustees
Caroline Charlton - Chair
Julia Thomas - Vice Chair
Stephen Baughan - Treasurer
Caroline Bayly
(Appointed 18 March 2025)
Susanna Bellino
Howard Gooder
(Retired 20 November 2024)
Mustafa Vahdettin
Julie Hitchcock
(Retired 20 November 2024)
Key management personnel
Nigel Newby
Chief Executive Officer
Maria Sheridan-Loughrey
Deputy Chief Executive Officer
Robert Serrij
Operations Manager
Independent examiner
Mohan Kripalani
Structure, governance and management
Governing document
The organisation is a charitable company limited by guarantee, incorporated on 21 February 2003 and registered as a charity on 1 April 2004. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association which were updated on 5 March 2013 for administrative purposes only using the Community Transport Associations model articles to include the provisions of the Companies Act 2006 and accepted by the Charities Commission on 10 June 2013. In the event of the company being wound up members are required to contribute an amount not exceeding £1 each. The Charity changed its name on 2 December 2019. References to the 'Company' or the 'Charity' in these financial statements are one and the same as with 'Directors or Trustees'.
Recruitment and appointment of the board of trustees
The Articles of Association require that the members of the Board are elected to serve for a period of one year after which they must be re-elected at the Annual General Meeting.
The Charity seeks to ensure that the Board of Trustees have the diversity of skills necessary to fulfil their duties. Trustees are also Directors of the Charity.
The Charity follows the Charity Commission guidelines when recruiting new Trustees. New Trustees who are appointed during the year at Trustees meetings and will be re-elected at the Annual General Meeting.
Trustee induction and training
All Trustees are required to be familiar with the work of the Charity.
New Trustees are asked to attend a short induction session with the Chair of the Board and the Chief Executive of the Charity to understand the aims of the charity and the context within which it operates.
The main documents which set out the operational framework for the Charity are provided to new Trustees. These are the Memorandum and Articles of Association, a strategic plan, the latest published accounts and other policies and procedures.
Risk management
There is a Board subcommittee with key members of the Management team who meet to assess the risks to which the Charity is exposed and create a risk register for review at Board meetings.
The major areas of risk when running a community transport organisation are:
- The need to replace our ageing fleet of vehicles, along with possible future government requirements to use electric powered vehicles in order to reduce carbon emissions. Without suitable grant funding or direct subsidy this could result in our Charity being unable to continue.
- Ensuring the premises are adequate to provide the services required at a reasonable cost for which we are currently awaiting the renewal of the lease.
- Staff and volunteers are suitably trained to deliver our services.
- Develop a succession plan for key staff members.
- That we have policies and procedures in place and follow good practice guidelines to ensure that we provide our services within current legislation ,especially in relation to health & safety, so that our buses are well maintained and our drivers are appropriately trained.
- Adequate funding is available to provide affordable transport for the Charitable and Statutory Organisations who are our members.
- Maintain our reputation of providing a good service to our members.
- Ensure our IT systems are appropriate for our operation, there are suitable backup options and the data is kept securely.
- Ensure we have sufficient Trustees to maintain a good Corporate Governance structure.
Organisational structure
The Charity has a Board of Directors / Trustees of not less than 3 members who meet quarterly and are responsible for the strategic direction and policy of the charity. The Board of Trustees has members from a variety of professional backgrounds relevant to the work of the charity.
The day-to-day responsibility for the provision of the services rests with the Chief Executive Officer, Deputy Chief Executive Officer, Operations Manager and the Treasurer. The Chief Executive Officer and the Deputy Chief Executive Officer are responsible for ensuring that the charity delivers the services specified, that key performance indicators are met and adequate funding is available to continue the operations. The Operations Manager has responsibility for the day-to-day operational management of the Charity. Individual supervision of the staff team ensuring they continue to develop their skills and working practices in line with good practice are the joint responsibilities of the Chief Executive Officer and the Operations Manager. The Treasurer in conjunction with the Chief Executive Officer and Deputy Chief Executive Officer have the responsibility of ensuring the financial stability of the Charity.
Two sub committees each chaired by one of our trustees are in place to review risk management and to enhance our public profile including our website to enable us to improve fundraising.
Related parties
If a member of the Board of Trustees has involvement with member organisations and a conflict of interest arises then that member would be excluded from voting on such issues and should it be necessary excluded from relevant meetings or refrain from the discussions.
There were no related party transactions during the year that are not shown elsewhere in the accounts.
Objectives and activities
Purposes and aims
Our charity's purposes are set out in the objects contained in the company's memorandum of association.
We aim to benefit the public by providing high quality accessible and affordable transport services for the use of charitable and community organisations based in the London Borough of Richmond upon Thames and the Royal Borough of Kingston upon Thames and surrounding area.
We continue to work in partnership with other organisations and continually look to develop projects which provide accessible and affordable transport services for individuals for whom conventional transport is either inaccessible or inappropriate, ensuring the quality of delivery by the constant provision of support, training and information and to develop other complementary services where local community need is identified.
Ensuring our work delivers our aims
We continually review the work of the Charity to ensure it meets our aims. Annually we review what we have achieved and the outcomes of our work and the success of each key activity and the benefits they have brought to those groups of people we are set up to help. This review ensures our aims, objectives and activities remain focused on our stated purposes and reflect the changing needs and aspirations of the local community.
We have referred to the Charity Commission's general guidance on public benefit when reviewing our aims and objectives, and in planning our future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set.
The focus of our work
Our main objectives for the year continued to be the provision of accessible transport resources and services.
To do this we operate a fleet of minibuses the majority of which are fully accessible. Some of the vehicles are owned by user organisations and we make use of these for our own operations in their down time.
We offer certificated MiDAS driver training and assessment; passenger assistant training is also offered.
Our advice and information on transport related matters is often sought, liaising between the statutory and voluntary sector with regard to transport initiatives and planning.
We supervise vehicle compliance and operate in partnership with other local agencies to develop local door to door transport provision.
Those who benefit from our services
We provide affordable accessible transport to residents of London Borough of Richmond upon Thames and the Royal Borough of Kingston-upon-Thames and surrounding areas.
Strategic report
The following sections for achievements and performance and financial review form the strategic report of the charity.
Achievements and performance
Community transport operation
Following the closure of a Community Transport organisation in Sutton we were successful in obtaining some of their business with Sutton Council providing a special needs service. We also obtained some of the staff of the community transport organisation who ran these services.
Services we have been providing with two Partnership organisations Staywell and Enhanceable providing transport for care centres has now been directly funded by the Royal Borough of Kingston upon Thames rather than a contract for supplying buses to Staywell
Our funding support from the councils of the two boroughs of the Royal Borough of Kingston upon Thames and London Borough of Richmond upon Thames together with the two Charities of Hampton Fund and Richmond Parish Land Charity has remained constant for which are grateful.
Our services to smaller user groups has remained stable over the last couple of years.
This year 133 (2024 - 125) voluntary and statutory organisations used our services.
The Vehicle fleet did complete 5776 (2024 - 6,190) days/part days bookings enabling 103,262 (2024 - 97,254) passenger journeys.
During the year we trained and assessed 97 (2024 - 107) people to the nationally recognised and certificated MiDAS standard.
Capital projects
We continue to operate and maintain the three minibuses funded by FiSH and two minibuses funded by Staywell, these are treated as Restricted funds. At the end of the year FiSH were in the process of replacing one of their buses for the Barnes and Mortlake Enterprise scheme which we have accounted for in the current year but did not commence service until after the year end.
Partnership & Enterprise Schemes
We continue our successful partnership working with other community and voluntary organisations to support the local communities in their own areas.
Since 2001 working with Community Centres in the Hampton and Hampton Hill area of the London Borough of Richmond upon Thames and supported by the Council we have run a project known as Hampton Enterprise. This combines a community car scheme, shopping buses and a plus bus service offering door to door transport provision. This service continues to provide a weekly transport service to a club for those with learning difficulties known as the Gateway Club a daily transport service to Elleray Hall elderly persons day centre, Linden Hall day centre, Homelink day centre, Hampton and Hampton Hill Voluntary Care weekly shopping service and social outings. During the year it was necessary to move the base from which the minibus service operates and this was successfully accomplished with no disruption to the users.
Since 2005 we have worked with FiSH a local Charity supported by London Borough of Richmond upon Thames in a project known as Barnes Mortlake and East Sheen Enterprise. This combines a community car scheme, plus bus service providing weekly transport shopping service, social excursions and transport to activities, clubs and special events for the elderly, frail and those with mobility problems. Over the years due to an increase in demand FiSH have purchased two additional buses, one of which is currently being replaced, through us and they have increased the staff capacity to satisfy these needs.
We operate vehicles for Staywell and Ham SOS ensuring that they comply with all legal and safety requirements.
Staywell use buses from our fleet to transport their elderly, frail and those with mobility problems to their day care centre.
Premises
The current negotiation with our landlords the Royal Borough of Kingston upon Thames who also supply funding and have offered us a lease from the 25 March 2023 with a rent-free period from the expiry of the old lease on 20 July 2020 is awaiting finalisation. The accrued cost of this rent-free period was released as a grant from the Royal Borough of Kingston upon Thames last year and we have accrued the outstanding rent for this financial year.
We have accepted this offer and continue to await the formal documentation to be completed.
Financial review
Results for the period
Restricted Funds
Revenue from the Hampton Fund and Richmond Parish Lands Charity to subsidise the core staff costs amounted to £26,235 (2024 - £25,300).
In the previous year income from London Borough of Richmond upon Thames administered by Age UK Richmond Services LTD was for the purposes of our Charity for which we do not have a formal contract and was to operate two schemes known as Enterprise schemes one in Hampton where we allocated £112,501 and collected fares of £5,282 the other in Barnes & Mortlake Enterprise where we allocated £57,445 and collected fares of £18,693. The remainder of the income was to cover £34,112 of operational remuneration costs.
In the previous year we received income to cover operational remuneration costs from the Royal Borough of Kingston of Thames £32,000.
The Staywell capital funding for two minibuses continues to be in place. The fund is reduced by the annual depreciation of £906 (2024 - £1,350) and the remaining balance which represents the Net book value of these assets is £1,836 and considered to be a fair representation of the market value.
During the year the Barnes and Mortlake Enterprise capital funding includes the remainder of their funding of the new minibus received from FiSH of £67,512 to bring the total funding including the deposit last year of £21,320 to £88,832. This has been delivered after the year end and is in addition to the three minibuses they already fund. The current minibuses are charged an annual depreciation of £33,224 (2024 - £5,836). The balance carried forward of £67,453 represents the net book value of the four minibus and is considered to be a fair representation of their market value.
Transfer of funds
There was no transfer of funds this year. In the previous year we received £20,000 as a contribution to buy a minibus which cost £56,223 which is in excess of the contribution therefore as we had satisfied the requirements of the restriction we transferred the balance of £1,446 which is the grant less the annual depreciation of £18,554 to unrestricted funds.
Unrestricted Funds
Our main income is generated from the use of the buses which was £575,568 (2024 - £332,423) the main reason for the substantial increase is due to:
- A new contract from Sutton Council for the Special Educational Needs contract which accounted for £261,367.
- Income from Royal Borough of Kingston upon Thames of £187,000 for which we contribute a grant to Enhanceable of £40,000. In the previous year this was general funding from Staywell and income and the Royal Borough of Kingston upon Thames.
- Income from London Borough of Richmond upon Thames administered by Age UK Richmond Services LTD is for the purposes of our Charity for which we do not have a formal contract and is to operate two schemes known as Enterprise schemes one in Hampton where we allocated £118,016 and collected fares of £15,109 the other in Barnes & Mortlake where we allocated £60,261 and collected fares of £20,064 the remainder of the income was to cover operational remuneration costs of £35,784.
Other unrestricted income comes from affiliation fees and driver training of £13,933 (2024 - £4,209), donations including gift aid of £4,467 (2024 - £4,995), interest receivable £6,145 (2024 - £5,126), gains on the disposal of a minibus including the scrappage scheme grant was £9,670 (2024 - £6,913).
The total unrestricted income amounted to £896,017 (2024 - £353,666).
Expenditure was £870,470 (2024 - £354,798) of which £ 67,658 (2024 - £35,146) is depreciation, increased due to the purchase of two second hand minibuses costing £76,000. The increase in Salaries National Insurance and pensions to £526,274 (2024 - £180,208) and vehicle running costs to £182,597 (2024 - £96,840) is as result of the new contract from Sutton Council and the reduction in similar costs in restricted funds last year. A summary of the expenditure can be seen in more detail in note 10 to these accounts.
The net income and net movement in funds is therefore £25,547 (2024 - £1,132) increasing our total unrestricted funds carried forward to £468,447 (2024 - £442,900).
Total Funds
Our total reserves have increased by £58,929 to £537,736 and the cash at bank of £391,501 and as referred to earlier in the report debtors and creditors are higher than they normally would be due to the timing of the purchase of the new Minibus for the Barnes and Mortlake Enterprise scheme.
Reserves Policy
The Trustees continually review the reserves policy to determine the level of free unrestricted funds needed to maintain the organisation's activities for a sufficient period to ensure continuity if funding from external sources should cease or be seriously curtailed. Currently our free reserves (Unrestricted net current assets) are £331,476 and one-month's expenditure is £69,087 (total annual expenditure £930,835 less depreciation of £101,788) which is 4.8 months.
The Board of Trustees continue to recognise the need to replace the fleet and continue to consider the current working capital requirement should be between 3 and 4 months. Therefore 4 months annual expenditure is £276,348 which could allow £55,128 for investment in new minibuses.
Plans for future periods
The continuing aim of the Charity is to supply good economical accessible community transport to the Voluntary and Community Groups within the London Borough of Richmond upon Thames and the Royal Borough of Kingston upon Thames and surrounding boroughs. In order to do this we will need to:
- Increase the number or community, voluntary and statutory organisations that are members to ensure that we are more sustainable for the future
- Continue working in partnerships and develop projects which provide accessible and affordable services for individuals for whom conventional transport provision is either inaccessible or inappropriate.
- Maintain the quality of delivery by offering support, training and information to our membership.
- Increase our funding and maintain our charges at a level that is affordable to our client base many of whom are also Charities and urge the local Councils to maintain their valued support.
- Keep our current fleet in the best condition until funding can be obtained to replace our fleet with affordable greener alternatives. We need to get a better understanding of these alternatives and the likely timing. In order to achieve this funding we will need to increase our public profile which is not easy as we are not a front line organisation with direct access to the public.
- Ensure that premises are available to continue to deliver affordable Community Transport and get more certainty with a new lease.
- Keep up to date with our legal obligations especially those of Health & Safety and the work environment of employees & volunteers.
The trustees' annual report and the strategic report were approved on 18 November 2025 and signed on behalf of the board of trustees by:
Stephen Baughan - Treasurer
Trustee
RAKAT CT LTD
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of RAKAT CT LTD
Year ended 31 March 2025
I report to the trustees on my examination of the financial statements of RAKAT CT LTD ('the charity') for the year ended 31 March 2025.
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 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 the 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
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), 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; or
2. the financial statements do not accord with those records; 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.
Mohan Kripalani Independent Examiner
2 Crosslands Avenue,
Ealing,
W5 3QH
19 November 2025
RAKAT CT LTD
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 March 2025
2025
2024
Unrestricted funds
Restricted funds
Total funds
Total funds
Note
£
£
£
£
Income and endowments
Donations and legacies
5
4,467
–
4,467
4,995
Charitable activities
6
875,735
93,747
969,482
663,285
Investment income
7
6,145
–
6,145
5,126
Other income
8
9,670
–
9,670
6,913
---------
--------
---------
---------
Total income
896,017
93,747
989,764
680,319
---------
--------
---------
---------
Expenditure
Expenditure on charitable activities
9,10
( 870,470)
( 60,365)
( 930,835)
( 665,871)
---------
--------
---------
---------
Total expenditure
( 870,470)
( 60,365)
( 930,835)
( 665,871)
---------
--------
---------
---------
---------
--------
---------
---------
Net income and net movement in funds
25,547
33,382
58,929
14,448
---------
--------
---------
---------
Reconciliation of funds
Total funds brought forward
442,900
35,907
478,807
464,359
---------
--------
---------
---------
Total funds carried forward
468,447
69,289
537,736
478,807
---------
--------
---------
---------
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
RAKAT CT LTD
Company Limited by Guarantee
Statement of Financial Position
31 March 2025
2025
2024
Note
£
£
£
Fixed assets
Tangible fixed assets
17
206,260
123,615
Current assets
Debtors
18
229,874
130,850
Cash at bank and in hand
391,501
332,210
---------
---------
621,375
463,060
Creditors: amounts falling due within one year
19
( 289,899)
( 107,868)
---------
---------
Net current assets
331,476
355,192
---------
---------
Total assets less current liabilities
537,736
478,807
---------
---------
Net assets
537,736
478,807
---------
---------
Funds of the charity
Restricted funds
69,289
35,907
Unrestricted funds
468,447
442,900
---------
---------
Total charity funds
21
537,736
478,807
---------
---------
For the year ending 31 March 2025 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 18 November 2025 , and are signed on behalf of the board by:
Stephen Baughan - Treasurer
Trustee
The financial statements are prepared in accordance with the special provisions of part 15 of the Companies Act 2006 relating to small companies.
RAKAT CT LTD
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 March 2025
2025
2024
£
£
Cash flows from operating activities
Net income
58,929
14,448
Adjustments for:
Depreciation of tangible fixed assets
101,788
60,885
Other interest receivable and similar income
( 6,145)
( 5,126)
Gains on disposal of tangible fixed assets
( 9,670)
( 6,913)
Accrued expenses
13,100
5,331
Changes in:
Trade and other debtors
( 99,024)
( 65,842)
Trade and other creditors
168,931
20,599
---------
--------
Cash generated from operations
227,909
23,382
Interest received
6,145
5,126
---------
--------
Net cash from operating activities
234,054
28,508
---------
--------
Cash flows from investing activities
Purchase of tangible assets
( 184,832)
( 56,223)
Proceeds from sale of tangible assets
10,069
7,390
---------
--------
Net cash used in investing activities
( 174,763)
( 48,833)
---------
--------
Net increase/(decrease) in cash and cash equivalents
59,291
( 20,325)
Cash and cash equivalents at beginning of year
332,210
352,535
---------
---------
Cash and cash equivalents at end of year
391,501
332,210
---------
---------
RAKAT CT LTD
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2025
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Liz Mills Depot, 32 Wellington Crescent, New Malden, Surrey, KT3 3NE.
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 Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006 . RAKAT CT LTD meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). Taxation The charitable company is a charity within the definition of section 467 Corporation Tax Act 2010 and is therefore able to take advantage of the exemptions given by sections 485 and 486 of that Act. Accordingly, there is no Corporation Tax charge in these accounts. Pension Policy The charity contributes to individuals stake holder pension schemes to the value of 8% of salary. The contributions are included in the Statement of Financial Activities when they fall due. Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided
Going concern
The financial statements are drawn up on the going concern basis which assumes RAKAT CT LTD will continue in operational existence for the foreseeable future, being a period of 12 months from the date of approval of these financial statements. The Board have given due consideration to the working capital and cash flow requirementsof RAKAT CT LTD . The Board consider RAKAT CT LTD current and forecast cash resources to be sufficient to cover the working capital requirements of the charity for the foreseeable future.
Judgements and key sources of estimation uncertainty
The preparation of financial statements in conformity with Charities SORP (FRS 102) requires the trustees to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the judgements about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates.
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. - no amounts are included for the contribution of general volunteers. - income from grants for the supply of services is recognised with the delivery of the required service. These are classified as restricted funds as there is a contractual requirement for it to be spent on a particular purpose and returned if unspent. - Income is stated net of VAT
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 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.
Tangible assets
All fixed assets are initially recorded at cost. Fixed assets capitalisation Tangible fixed assets are stated at cost or valuation less depreciation. Fixed assets costing more than £1,000 are capitalised where they are not replacements of assets previously capitalised.
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
-
33% reducing balance
Equipment
-
33% straight line
Impairment of fixed assets
Fixed assets are subject to review for impairment when there is an indication of a reduction in their carrying value. Any impairment is recognised in the year in which it occurs in the corresponding Statement of Financial Activities category.
Financial instruments
The charitable company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. Debtors Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost, less provision for impairment. A provision for the impairment of debtors is established when there is objective evidence that the charitable company will not be able to collect all amounts due according to the original terms of the debt. Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Creditors Creditors are recognised where the charitable company 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 and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Leases Leases in which substantially all risks regards ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to the statement of financial activities on a straight line basis over the period of the lease.
4. Limited by guarantee
The members of this organisation are the Charity Trustees who have committed to the guarantee of £1 upon the dissolution of the Charity. The members' details are maintained at the operational address.
5. Donations and legacies
Unrestricted Funds
Total Funds 2025
Unrestricted Funds
Total Funds 2024
£
£
£
£
Donations
General donations
3,597
3,597
4,095
4,095
Gift Aid
870
870
900
900
------
------
------
------
4,467
4,467
4,995
4,995
------
------
------
------
6. Charitable activities
Unrestricted Funds
Restricted Funds
Total Funds 2025
£
£
£
Income from the use of the buses
199,374
–
199,374
Royal Borough of Kingston upon Thames
187,000
–
187,000
London Borough of Richmond upon Thames administered by Age UK Richmond Services LTD
214,061
–
214,061
London Borough of Sutton
261,367
–
261,367
Affiliation fees & driver training
13,933
–
13,933
Hampton Fund
–
15,015
15,015
Richmond Parish Lands Charity
–
11,220
11,220
Royal Borough of Kingston upon Thames
–
–
–
The Victoria Foundation
–
–
–
FiSH
–
67,512
67,512
London Borough of Richmond upon Thames administered by Age UK Richmond Services LTD
–
–
–
---------
--------
---------
875,735
93,747
969,482
---------
--------
---------
Unrestricted Funds
Restricted Funds
Total Funds 2024
£
£
£
Income from the use of the buses
332,423
23,975
356,398
Royal Borough of Kingston upon Thames
–
–
–
London Borough of Richmond upon Thames administered by Age UK Richmond Services LTD
–
–
–
London Borough of Sutton
–
–
–
Affiliation fees & driver training
4,209
–
4,209
Hampton Fund
–
14,300
14,300
Richmond Parish Lands Charity
–
11,000
11,000
Royal Borough of Kingston upon Thames
–
32,000
32,000
The Victoria Foundation
–
20,000
20,000
FiSH
–
21,320
21,320
London Borough of Richmond upon Thames administered by Age UK Richmond Services LTD
–
204,058
204,058
---------
---------
---------
336,632
326,653
663,285
---------
---------
---------
7. Investment income
Unrestricted Funds
Total Funds 2025
Unrestricted Funds
Total Funds 2024
£
£
£
£
Bank interest receivable
6,145
6,145
5,126
5,126
------
------
------
------
8. Other income
Unrestricted Funds
Total Funds 2025
Unrestricted Funds
Total Funds 2024
£
£
£
£
Gain on disposal of tangible fixed assets held for charity's own use
9,670
9,670
6,913
6,913
------
------
------
------
9. Expenditure on charitable activities by fund type
Unrestricted Funds
Restricted Funds
Total Funds 2025
£
£
£
Community Transport Operations - Unrestricted
868,470
–
868,470
Community Transport Operations - Restricted
–
60,365
60,365
Support costs
2,000
–
2,000
---------
--------
---------
870,470
60,365
930,835
---------
--------
---------
Unrestricted Funds
Restricted Funds
Total Funds 2024
£
£
£
Community Transport Operations - Unrestricted
352,798
–
352,798
Community Transport Operations - Restricted
–
311,073
311,073
Support costs
2,000
–
2,000
---------
---------
---------
354,798
311,073
665,871
---------
---------
---------
10. Expenditure on charitable activities by activity type
Analysis of Community Transport Operations Expenditure - Unrestricted
2025
2024
£
£
Salary, National Insurance and Pension
526,274
180,208
Depreciation
67,658
35,146
Vehicle Running Costs
179,293
96,840
Training & Conferences
4,071
1,210
Premises Costs
16,266
15,931
Administrative Expenses
34,908
23,463
Grant payable for transport services
40,000
–
---------
---------
868,470
352,798
Support Costs - Independent Examination Fee
2,000
2,000
---------
---------
870,470
354,798
---------
---------
Analysis of Community Transport Operations Expenditure - Restricted
2025
2024
£
£
Salary, National Insurance and Pension
26,235
228,262
Depreciation
34,130
25,739
Vehicle Running Costs
–
57,072
--------
---------
60,365
311,073
--------
---------
11. Analysis of support costs
There are no support costs as such the £2,000 (2023 - £2,000) represents the fees payable for the independent examination of the financial statements.
12. Analysis of grants
2025
2024
£
£
Grants to institutions
Grants to Enhanceable
40,000
–
--------
----
Total grants
40,000
–
--------
----
13. Net income
Net income is stated after charging/(crediting):
2025
2024
£
£
Depreciation of tangible fixed assets
101,788
60,885
Gains on disposal of tangible fixed assets
(9,670)
(6,913)
---------
--------
14. Independent examination fees
2025
2024
£
£
Fees payable to the independent examiner for:
Independent examination of the financial statements
2,000
2,000
------
------
15. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
2025
2024
£
£
Wages and salaries
484,309
357,385
Social security costs
32,002
23,396
Employer contributions to pension plans
36,198
27,689
---------
---------
552,509
408,470
---------
---------
The key management personnel of the charity comprise the trustees, the Chief Executive Officer, Deputy Chief Executive Officer and the Operations Manager. The total employee benefits of the key management personnel were £121,721 (2024 - £122,686).
The average head count of employees during the year was 19 (2024: 19 ). The average number of full-time equivalent employees during the year is analysed as follows:
2025
2024
No.
No.
Number of Operational Staff (FTE)
16
12
----
----
No employee received employee benefits of more than £60,000 during the year (2024: Nil).
16. Trustee remuneration and expenses
No remuneration or benefits have been paid to any member of the Board of Trustees during the period for their duties as a trustee.
However, as permitted by Section 185 of the Charities Act 2011, the treasurer has not charged for his accountancy services as he did this on a voluntary basis however he was reimbursed for some computer expenses to the value of £2,400 (2024 - £2,280).
17. Tangible fixed assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 April 2024
1,218,638
16,018
1,234,656
Additions
184,832
–
184,832
Disposals
( 20,495)
–
( 20,495)
------------
--------
------------
At 31 March 2025
1,382,975
16,018
1,398,993
------------
--------
------------
Depreciation
At 1 April 2024
1,095,023
16,018
1,111,041
Charge for the year
101,788
–
101,788
Disposals
( 20,096)
–
( 20,096)
------------
--------
------------
At 31 March 2025
1,176,715
16,018
1,192,733
------------
--------
------------
Carrying amount
At 31 March 2025
206,260
–
206,260
------------
--------
------------
At 31 March 2024
123,615
–
123,615
------------
--------
------------
18. Debtors
2025
2024
£
£
Trade debtors
139,624
52,155
Prepayments and accrued income
59,483
48,182
Other debtors
30,767
30,513
---------
---------
229,874
130,850
---------
---------
19. Creditors: amounts falling due within one year
2025
2024
£
£
Payments received on account
23,625
8,000
Trade creditors
165,224
16,609
Accruals and deferred income
72,269
59,169
Social security and other taxes
9,681
7,651
Grants in advance
15,015
11,220
Other creditors
4,085
5,219
---------
---------
289,899
107,868
---------
---------
20. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £ 36,198 (2024: £ 27,689 ).
21. Analysis of charitable funds
Unrestricted funds
At 1 April 2024
Income
Expenditure
Transfers
At 31 March 2025
£
£
£
£
£
General funds
442,900
896,017
(870,470)
–
468,447
---------
---------
---------
----
---------
At 1 April 2023
Income
Expenditure
Transfers
At 31 March 2024
£
£
£
£
£
General funds
442,586
353,666
(354,798)
1,446
442,900
---------
---------
---------
------
---------
Restricted funds
At 1 April 2024
Income
Expenditure
Transfers
At 31 March 2025
£
£
£
£
£
Hampton Enterprise Scheme
–
–
–
–
–
Barnes & Mortlake Enterprise Scheme
–
–
–
–
–
Staywell Capital Funding
2,742
–
(906)
–
1,836
FiSH Capital Funding
33,165
67,512
(33,224)
–
67,453
Capital Funding for Minibus purchase
–
–
–
–
–
Grant funding for staff
–
26,235
(26,235)
–
–
--------
--------
--------
----
--------
35,907
93,747
(60,365)
–
69,289
--------
--------
--------
----
--------
At 1 April 2023
Income
Expenditure
Transfers
At 31 March 2024
£
£
£
£
£
Hampton Enterprise Scheme
–
117,784
(117,784)
–
–
Barnes & Mortlake Enterprise Scheme
–
76,138
(76,138)
–
–
Staywell Capital Funding
4,092
–
(1,350)
–
2,742
FiSH Capital Funding
17,681
21,320
(5,836)
–
33,165
Capital Funding for Minibus purchase
–
20,000
(18,554)
(1,446)
–
Grant funding for staff
–
91,411
(91,411)
–
–
--------
---------
---------
------
--------
21,773
326,653
(311,073)
(1,446)
35,907
--------
---------
---------
------
--------
Purposes of Restricted Fund
Fish & Staywell Capital Funding
This income has been received from partnership organisations to purchase minibuses for specific purposes and when the arrangement ceases the minibuses or their market value will be returned to the partnership organisations.
Hampton Enterprise scheme
This is a scheme which has been set up with Hampton and Hampton Hill Voluntary Care to run a minibus service in local areas in the London Borough of Richmond upon Thames with the financial support of the Council as part of the CILS (Community Independent Living Service) partnership.
Barnes and Mortlake Enterprise scheme
This scheme has been set up with FiSH to run a minibus service in local areas in the London Borough of Richmond upon Thames with the support of the Councils part of the CILS (Community Independent Living Service) partnership.
Capital Funding for Minibus Purchase
This is funding has been received in the previous year from The Victoria Fund to assist with the purchase of a new minibus.
Staff funding
These funds received from our principal funders to cover a proportion of staff costs have been restricted by those funders for this purpose. Any additional staff costs are charged against unrestricted funds.
22. Analysis of net assets between funds
Unrestricted Funds
Restricted Funds
Total Funds 2025
£
£
£
Tangible fixed assets
136,971
69,289
206,260
Current assets
621,375
–
621,375
Creditors less than 1 year
(289,899)
–
(289,899)
---------
--------
---------
Net assets
468,447
69,289
537,736
---------
--------
---------
Unrestricted Funds
Restricted Funds
Total Funds 2024
£
£
£
Tangible fixed assets
109,028
14,587
123,615
Current assets
441,740
21,320
463,060
Creditors less than 1 year
(107,868)
–
(107,868)
---------
--------
---------
Net assets
442,900
35,907
478,807
---------
--------
---------
23. Analysis of changes in net debt
At 1 Apr 2024
Cash flows
At 31 Mar 2025
£
£
£
Cash at bank and in hand
332,210
59,291
391,501
---------
--------
---------
24. Capital commitments
The capital commitment for the balance due of £85,499 for the purchase of a new minibus is included in trade creditors which has been paid since the year end. The grant of £69,842 from FiSH for this purchase is included in trade debtors and we received these funds after the year end date. Ownership has been taken at the date of the invoice and the asset is included in our fixed assets at a value of £88,832
25. Related parties
Apart from the accountancy services supplied by the Treasurer the details of which are shown in note 16 there are no related party transactions.