Holsworthy Rural Community Transport Ltd

	Page
Trustees' Report	1—3
Independent Examiner's Report	4
Statement of Financial Activities (including Income and Expenditure Account)	5
Comparative Statement of Financial Activities (including Income and Expenditure Account)	6
Balance Sheet	7
Notes to the Financial Statements	8—14

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2026.

Responsibilities and Basis of Report

As the charity 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:

accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
the accounts do not accord with those records; or
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
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.

Mr Gareth Pollard

23/07/2026

The Old Orchard
Holsworthy
Devon
EX22 6LT

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Holsworthy Rural Community Transport Ltd

Statement of Financial Activities (including Income and Expenditure Account)

For The Year Ended 31 March 2026

Statement of Financial Activities (including Income and Expenditure Account)

				2026	2025
		Unrestricted funds	Restricted funds	Total funds	Total funds
	Notes	£	£	£	£
INCOME AND ENDOWMENTS FROM:
Donations and legacies	3	32,068	63,200	95,268	67,685
Other trading activities	4	96,925	-	96,925	105,692
Investments	5	1,642	-	1,642	-

		130,635	63,200	193,835	173,377

EXPENDITURE ON:
Charitable activities:	7
Fundraising		(111,433 )	(54,799 )	(166,232 )	(163,670 )

NET INCOME		19,203	8,400	27,603	9,707


NET MOVEMENT IN FUNDS		19,203	8,400	27,603	9,707
RECONCILIATION OF FUNDS:
Total funds brought forward		111,404	21,770	133,174	123,467

TOTAL FUNDS CARRIED FORWARD	16	130,607	30,170	160,777	133,174

The notes on pages 8 to 12 form part of these financial statements.

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Holsworthy Rural Community Transport Ltd

Comparative Statement of Financial Activities (including Income and Expenditure Account)

For The Year Ended 31 March 2026

Comparative Statement of Financial Activities (including Income and Expenditure Account)

				2025
		Unrestricted funds	Restricted funds	Total funds
	Notes	£	£	£
INCOME AND ENDOWMENTS FROM:
Donations and legacies	3	26,985	40,700	67,685
Other trading activities	4	105,692	-	105,692

		132,677	40,700	173,377

EXPENDITURE ON:
Charitable activities:	7
Fundraising		(122,570 )	(41,100 )	(163,670 )

NET INCOME		10,107	(400 )	9,707


NET MOVEMENT IN FUNDS		10,107	(400 )	9,707
RECONCILIATION OF FUNDS:
Total funds brought forward		101,297	22,170	123,467

TOTAL FUNDS CARRIED FORWARD	16	111,404	21,770	133,174

The notes on pages 8 to 12 form part of these financial statements.

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Holsworthy Rural Community Transport Ltd

Balance Sheet

As At 31 March 2026

Balance Sheet

				2026	2025
		Unrestricted funds	Restricted funds	Total funds	Total funds
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	12	13,814	-	13,814	18,418

		13,814	-	13,814	18,418
CURRENT ASSETS
Debtors	13	2,459	-	2,459	2,481
Cash at bank and in hand		134,265	30,170	145,414	113,185

		136,724	30,170	147,873	115,666
Creditors: Amounts Falling Due Within One Year	14	(19,931 )	-	(910 )	(910 )

NET CURRENT ASSETS (LIABILITIES)		116,793	30,170	146,963	114,756

TOTAL ASSETS LESS CURRENT LIABILITIES		130,607	30,170	160,777	133,174

NET ASSETS		130,607	30,170	160,777	133,174

FUNDS OF THE CHARITY
Restricted Funds				30,170	21,770
Unrestricted Funds				130,607	111,404

TOTAL FUNDS	16			160,777	133,174

For the year ending 31 March 2026 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

On behalf of the board

Ms Evelyn Sharman

Trustee

21/07/2026

The notes on pages 8 to 12 form part of these financial statements.

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Holsworthy Rural Community Transport Ltd

Notes to the Financial Statements

For The Year Ended 31 March 2026

Notes to the Financial Statements

1. General Information

Holsworthy Rural Community Transport Ltd is a company limited by guarantee, incorporated in England & Wales, registered number 05287515 and registered charity number 1109623 . The registered office is .

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements 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 charitable company is a Public Benefit Entity as defined by FRS 102.

2.2. Fund Accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.

2.3. Incoming Resources

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribushian will be made, or when a distributuion is received from the estate. Receipt of a legacy, in whole or in part, is only considered proable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

2.4. Donated Goods and Services

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of Holsworthy Rural Community Transport Limited volunteers is not recognised although this may be outlined in the Trustees' annual report.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% reducing balance
Motor Vehicles	25% reducing balance

2.6. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

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Holsworthy Rural Community Transport Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

3. Income from Donations and Legacies

			2026	2025
	Unrestricted	Restricted	Total	Total
	funds	funds	funds	funds
	£	£	£	£
Donations and gifts:
Donations	11,328	-	11,328	6,082
Grants:
Grants - Big Lottery	-	63,200	63,200	40,700
Grants - Devon County Council	20,740	-	20,740	20,903

	32,068	63,200	95,268	67,685

4. Income from Other Trading Activities

	2026	2025
	Unrestricted funds	Total funds
	£	£
Fares	20,592	18,808
Mini bus hire	8,477	8,906
Contract work	50,153	48,390
BSOG: vat reclaim	2,434	2,659
Membership fees	2,315	2,149
Subsidies	12,850	24,170
Sundry receipts	104	610

	96,925	105,692

5. Investment Income

	2026	2025
	Unrestricted	Total
	funds	funds
	£	£
Bank interest receivable	1,642	-

6. Net Income/(Expenditure)

The net income is stated after charging/(crediting):

	2026	2025
	£	£
Depreciation of tangible fixed assets - owned	4,604	6,138

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Holsworthy Rural Community Transport Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

7. Analysis of Expenditure

			2026
	Activities undertaken directly	Support costs (see note 8 )	Total
	£	£	£
Fundraising	164,133	2,099	166,232

			2025
	Activities undertaken directly	Support costs (see note 8 )	Total
	£	£	£
Fundraising	162,860	810	163,670

8. Support Costs

	2026
	Fundraising
	£
General administration	2,099

	2025
	Fundraising
	£
General administration	810

9. Independent Examiner's Remuneration

	2026	2025
	£	£
Independent examination of the financial statements	810	810

10. Staff Costs

Staff costs were as follows:

	2026	2025
	£	£
Wages and salaries	93,460	90,756
Other pension costs	3,477	3,260

	96,937	94,016

No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000.

11. Average Number of Employees

Average number of employees during the year was: 7 (2025: 4)

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Holsworthy Rural Community Transport Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

12. Tangible Assets

	Plant & Machinery	Motor Vehicles	Total
	£	£	£
Cost
As at 1 April 2025	22,897	49,194	72,091

As at 31 March 2026	22,897	49,194	72,091

Depreciation
As at 1 April 2025	20,044	33,629	53,673
Provided during the period	713	3,891	4,604

As at 31 March 2026	20,757	37,520	58,277

Net Book Value
As at 31 March 2026	2,140	11,674	13,814

As at 1 April 2025	2,853	15,565	18,418

13. Debtors

	2026	2025
	£	£
Due within one year
Other debtors	2,459	2,481

14. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Accruals and deferred income	910	910

15. Pension Commitments

The charitable company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charitable company in an independently administered fund.

During the year the charge to the statement of financial activities in respect of defined contribution schemes was £3,477 (2025: £3,260).

At the balance sheet date contributions of £NIL were due to the fund and are included in creditors.

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Holsworthy Rural Community Transport Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

16. Movement in Funds

	As at 1 April 2025	Income	Expenditure	As at 31 March 2026
	£	£	£	£
Unrestricted funds
General:
General unrestricted fund	111,404	130,635	(111,432 )	130,607
Restricted funds
Big Lottery	1,200	63,200	(54,800)	9,600
Redundancy provision	20,570	-	-	20,570


Total restricted funds	21,770	63,200	(54,800 )	30,170




Total funds	133,174	193,835	(166,232 )	160,777

	As at 1 April 2024	Income	Expenditure	As at 31 March 2025
	£	£	£	£
Unrestricted funds
General:
General unrestricted fund	101,297	132,677	(122,570 )	111,404
Restricted funds
Big Lottery	1,600	40,700	(41,100)	1,200
Redundancy provision	20,570	-	-	20,570


Total restricted funds	22,170	40,700	(41,100 )	21,770




Total funds	123,467	173,377	(163,670 )	133,174

17. Transactions with Trustees

None of the trustees received any remuneration or any other benefits from an employment with the charity or a related entity during the current or previous year.

No trustee expenses have been incurred.

18. Related Party Disclosures

There have been no related party transactions in the reporting period that require disclosure.

19. Company limited by guarantee

The company is limited by guarantee and has no share capital.

Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.

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Holsworthy Rural Community Transport Ltd

Detailed Statement of Financial Activities (including Income and Expenditure Account)

For The Year Ended 31 March 2026

Detailed Statement of Financial Activities (including Income and Expenditure Account)

	2026	2025
	Total funds	Total funds
	£	£
INCOME AND ENDOWMENTS FROM:
Donations and legacies

Donations	11,328	6,082
Grants - Big Lottery	63,200	40,700
Grants - Devon County Council	20,740	20,903

	95,268	67,685

Other trading activities

Fares	20,592	18,808
Mini bus hire	8,477	8,906
Contract work	50,153	48,390
BSOG: vat reclaim	2,434	2,659
Membership fees	2,315	2,149
Subsidies	12,850	24,170
Sundry receipts	104	610

	96,925	105,692

Investments

Bank interest receivable	1,642	-

	1,642	-


	193,835	173,377
EXPENDITURE ON:
Charitable Activities:
Fundraising
Advertising, marketing, direct mail and publicity	(1,075)	(4,203)
Rent	(6,632)	(5,496)
Casual labour	(6,459)	(5,054)
Wages and salaries	(93,460)	(90,756)
Employers pensions	(3,477)	(3,260)
Staff travel	(141)	(169)
DBS checks	-	(48)
Legal and professional fees	(2,738)	(2,000)
Bus fuel expenses	(13,399)	(16,332)
Bus repairs and maintenance	(18,823)	(15,294)
Bus insurance	(4,940)	(6,235)
Repairs, renewals and maintenance	(547)	(1,054)
Insurance	(1,748)	(1,518)
Online booking	(2,279)	(1,319)
Data and telecommunications costs	(544)	(1,356)
Printing, postage and stationery	(2,221)	(1,822)
Sundry expenses	(802)	(499)
Depreciation	(4,604)	(6,138)
Bank charges	(244)	(307)

...CONTINUED

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Holsworthy Rural Community Transport Ltd

Detailed Statement of Financial Activities (including Income and Expenditure Account) (continued)

For The Year Ended 31 March 2026

NET INCOME	27,603	9,707
Training seminars and workshops	(1,289)	-
Independent examiner's fees	(810)	(810)

	(166,232)	(163,670)

	(166,232)	(163,670)

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