Epping Forest Community Transport (EFCT) has reported a surplus of £23,164 for the financial year ended 31 December 2025, representing a positive swing of £74,923 compared to the deficit of £51,759 reported in the prior period. This marks a significant turnaround in financial performance, driven by a combination of expenditure discipline and improved grant income. It should be noted that the prior period covered 13 months (1 December 2023 to 31 December 2024) following the Charity's change of year end, whereas the current year represents a full, standard 12-month reporting period.
Total expenditure fell by £36,157, a decrease of 7.4% year-on-year. The most significant driver of this reduction was staffing costs, which fell by £26,908, or 8.2%, reflecting a reduction in the average headcount from 15 to 14 employees alongside lower wage costs across both driver and administrative teams. Direct vehicle running costs also fell, with fuel costs down £2,092 and insurance costs down £3,500, partially offset by a £2,214 rise in vehicle repair costs as the Charity continues to maintain an ageing fleet. Depreciation charges fell by £4,280, reflecting the absence of vehicle additions or disposals during the year, following the fleet renewal activity in the prior period.
Income rose by £34,207, an increase of 7.7%. This was driven almost entirely by a strong recovery in grant income, which increased by £35,394 (14.5%), reversing the decline in one-off funding success reported in the prior year. Core Charitable activities income (transport services) fell by £9,873 (5.0%), with growth in Group Hire (+34.6%) and Dial A Ride (+26.2%) offset by declines in Shopper Bus (-7.7%), Social Car (-61.0%) and Membership income (-39.6%). The Charity also received £8,725 in one-off other income relating to an insurance settlement, which is not expected to recur.
Despite the improved surplus, the Charity's balance sheet shows a notable rise in debtors, up £30,511 (25.5%) to £150,094, and creditors, up £20,240 (65.1%) to £51,342, the latter driven substantially by amounts owed to Chigwell Parish Council (£19,000) and Essex County Council (£3,500) in respect of the insurance settlement, which will need to be settled in the following period. Cash at bank increased by £25,735 to £123,379, and total funds carried forward increased to £260,657 (2024: £237,493), representing 9.8% growth in reserves.
The trustees consider this result to be evidence that the strategic response initiated in the prior year — including the review of staffing structures and service delivery models, and the pursuit of external funding opportunities — is beginning to take effect. Non-essential expenditure has continued to be curtailed, and operational efficiencies have been pursued wherever feasible. The Charity will continue to monitor the sustainability of grant income levels, given the reliance on a small number of core funding relationships and will continue engaging with local stakeholders to rebuild its volunteer base to reduce reliance on salaried driving staff over the longer term.