ACCOUNTS - Final Accounts preparation

Government grants

During the year the charity received the following grants from government bodies.

Registered number: 04989679

Charity number: 1104954

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

CONTENTS

	Page
Reference and Administrative Details of the Company, its Trustees and Advisers	1
Trustees' Report	2 - 7
Independent Auditor's Report on the Financial Statements	8 - 11
Consolidated Statement of Financial Activities	12
Consolidated Balance Sheet	13 - 14
Company Balance Sheet	15 - 16
Consolidated Statement of Cash Flows	17
Notes to the Financial Statements	18 - 44

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS

FOR THE YEAR ENDED 31 MARCH 2025

Trustees

R H Knight (resigned 20 July 2025)

A M Fox

J J Brydon

A J D Boughton

R I Stansbury

S C Naughalty

B S Capper

R J H Davies

M Reynolds (appointed 21 March 2025)

R Couch (appointed 18 January 2024, resigned 21 November 2024)

M James (appointed 25 July 2025)

Company registered number

04989679

Charity registered number

1104954

Registered office

Unit 8 Towergate Business Centre, Coopers Place, Combe Lane, Wormley, Surrey, GU8 5SZ

Company secretary

S Gray

Independent auditor

Shaw Gibbs (Audit) Limited, Wey Court West, Union Road, Farnham, Surrey, GU9 7PT

Page 1

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

The Trustees (who are also directors of the charity for the purposes of the Companies Act) present their annual report together with the audited financial statements of the Group and the Company, Waverley Hoppa Community Transport (the “Company”) for the year ended 31 March 2025. The Company has a subsidiary, Hoppa Limited (the “subsidiary company”) which together form a charitable group (the “Group”) and the Trustees also report on and present audited financial statements of the Group. The Trustees confirm that the Annual Report and financial statements of the Company comply with the current statutory requirements, the requirements of the Company's governing document and the provisions of the Statement of Recommended Practice (SORP), 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).

Since the Group and the Company qualify as small under section 383 of the Companies Act 2006, the Group Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 is not required.

Objectives and activities

a. Policies and objectives

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit.
Policies and objectives are defined by the Memorandum of Association as refined by the advice of experts and approved by the Board.

b. Strategies for achieving objectives

Strategies for achieving objectives are defined by an annual budget prepared by the General Manager and Board, presented to the local authority and distributed to appropriate parties.

c. Activities for achieving objectives

Activities for achieving objectives are the provision of subsidised transport services in the locality of Waverley Borough and limited commercial services to support the primary activities.

d. Main activities undertaken to further the charity's purposes for public benefit

The core activities of the Group, also referred to as "Hoppa", are the provision of dial a ride transport within Waverley Borough to anyone unable to utilise public services by reason of age, disability or remoteness.
The Trustees have given full regard to the Charity Commission’s guidance on public benefit, and are confident that, while our customers clearly benefit from transportation, there is a benefit to the wider public in terms of addressing rural isolation, and promoting the wellbeing and social inclusion of our customers.

e. Volunteers

The Company is managed by unpaid Board members, a small professional management team and a staff of employed drivers.

Page 2

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

Achievements and performance

a. Key financial performance indicators

The Trustees use two main financial indicators – the proportion of grant funding to total income, and net income or expenditure generated.
Grant funding in the year represented 18% of income (2024: 13%). The Trustees continue to pursue their strategy of contracting commercial routes – to Schools, Day Centres and local Hospitals – in addition to the core dial a ride operation. In this way we have historically been able to minimise the need for increased public funding to maintain our objectives.
In the year to 31 March 2025 the Group reported net income before actuarial adjustments of £107k (2024: £43k).

b. Review of activities

In the period of review the Group continued to provide transport services within the ambit of the operations described in its original Business Plan.
At the end of the year Hoppa reported a surplus of £85k (2024: £28k). Day to day operations remained stable but were enhanced by Hoppa operating a trial service for Surrey County Council. This service, branded Surrey Connect, was a one year trial, providing demand responsive transport via a phone app and “virtual” bus stops, and ceased in August 2024.
The organisation’s core activities are the provision of demand responsive transport within Waverley Borough, mainly assisting those with disabilities and the elderly who are unable to utilise public services by reason of remoteness or access difficulties. These priority services assist in reducing social exclusion among the disadvantaged and in the year some 18,664 passenger trips were made (2024: 17,481).
Other community support services covers school runs – mainly Special Educational Needs – as well as some health related transport contracts. A total of 55,140 passenger trips were made in this service category during the year (2024: 51,748).

c. Investment policy and performance

Our main investment will always be in the vehicles utilised for delivering our services, but to the extent that there are surplus cash reserves these are moved to interest bearing accounts.

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.

Page 3

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

Financial review (continued)

b. Financial risk management objectives and policies

The Trustees have identified two main financial risks – loss of grant funding, and the inability to fund replacement of our key capital asset, the vehicles themselves.
In terms of grant funding the largest single amount comes from Waverley Borough Council. Hoppa have a Service Level Agreement with Waverley; this agreement provides certainty of income in exchange for quarterly performance reviews. Other grants are received from other County, Town and Parish Councils. Hoppa minimise risk to these grants by maintaining regular contact with all these stakeholders, updating them on our operational and financial situation.
Hoppa operate twenty seven vehicles, mostly minibuses with wheelchair access. There is a Board target to maintain an average vehicle life of between five and six years, with no vehicle being older than twelve years. This gives rise to a capital requirement of over £100k every year to replace older vehicles; the funding for this needs to be provided from net income, capital grants or other fundraising. In terms of risk the Trustees have considered options of debt financing, as well as maintaining vehicles for longer, albeit likely to incur greater repair costs.
The Trustees review these risks at least quarterly. They are comfortable that, subject to external pressures beyond our control, our main stakeholders will continue to support Hoppa.
In terms of vehicles Hoppa were able to add four vehicles to the fleet through a combination of capital grants and debt financing.

c. Financial Results

At the balance sheet date unrestricted funds of £505,720 (2024: £415,641) and restricted funds of £146,932 (2024: £151,932) were held.

d. Reserves policy

There is a monthly review of likely operating expenses and income, grants, donations and requirements for replacing vehicles, all to ensure the ability to continue providing services throughout a forthcoming period of at least 6 months.
At 31 March 2025 Hoppa held free reserves totalling £82,118 (2024: £133,238).

e. Deficit

In the year to 31 March 2025 Hoppa has reported a surplus of £107k (2023: £43k) before actuarial gains. The Trustees approve an annual budget with a target of generating net income before depreciation, to be used for capital funding. This remains the target for the financial year ending March 2026.

f. Principal Funding

Local authority and government grants, and donations from parish councils and charitable institutions comprise 18% of funding (2024: 13%), the balance being generated by operating income. The reliance on grant funding continues to reduce as a result of a deliberate strategy by the Trustees.

Page 4

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

Structure, governance and management

a. Constitution

The Company is registered as a charitable company limited by guarantee and with a Memorandum of Association dated 9 December 2003.
The charity was formed in succession to Waverley Community Transport and assumed all that company's assets and liabilities with effect from 31 March 2004.
The principal object of the Company is to provide relief to the inhabitants of the Borough of Waverley in Surrey whose access to transport is affected by age, mental or physical disability, poverty or rural isolation, and in particular to provide and maintain non profit community transport services and to assist the charitable work of organisations and bodies engaged in promoting relief of such persons through the provision of appropriate services.
The objectives have not been amended during the year.

b. Methods of appointment or election of 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.

c. Policies adopted for the induction and training of Trustees

All Trustees receive explanatory documentation from Companies House and the Charities Commission and an introductory briefing with the Chairman, Operating Director and General Manager and attend a full Board meeting as an observer before appointment. Subsequently each Board member receives financial results, board minutes, budgets, draft business plans and a health and safety manual.

d. Pay policy for senior staff

The General Manager is the senior member of staff and a key employee. The Trustees policy is to ensure that this employee is remunerated on a par with commercial enterprises, and use a combination of salary and performance bonus to achieve this.

e. Organisational structure and decision making

The Chairman, General Manager and Board meet monthly. Our main local authority stakeholders are invited to attend our quarterly board meetings. Limits of decision making authority are defined by reference to magnitude and banking mandates by Board authority.

f. Related party relationships

The Trustees and senior staff make a declaration each year concerning related parties. There were no transactions with related parties during the year, other than as disclosed in the notes to the financial statements.

g. Financial risk management

The Trustees have assessed the major risks to which the Group and the Company are exposed, in particular those related to the operations and finances of the Group and the Company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

Page 5

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

Plans for future periods

In a climate of financial challenge for our local authorities, who are our key sponsors, Hoppa continues to subsidise its core services by bidding for, and winning, contracts to provide community transport routes, and non emergency patient transport, wherever they fit within the operational criteria.

Members' liability

The Members of the Company guarantee to contribute an amount not exceeding £10 to the assets of the Company in the event of winding up.

Small Company Provisions

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Statement of Trustees' responsibilities

The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Group and the Company and of their incoming resources and application of resources, including their income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

∙select suitable accounting policies and then apply them consistently;

∙observe the methods and principles of the Charities SORP (FRS 102);

∙make judgments and accounting estimates that are reasonable and prudent;

∙state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;

∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Group and the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Group and the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Group and the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditor

Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:

∙so far as that Trustee is aware, there is no relevant audit information of which the charitable Group's auditor is unaware, and

∙that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charitable Group's auditor is aware of that information.

Approved by order of the members of the board of Trustees and signed on their behalf by:

Page 6

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

R I Stansbury Trustee
Date: 26 September 2025

Page 7

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WAVERLEY HOPPA COMMUNITY TRANSPORT

Opinion

We have audited the financial statements of Waverley Hoppa Community Transport (the 'parent charitable company') and its subsidiaries (the 'group') for the year ended 31 March 2025 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

∙give a true and fair view of the state of the Group's and of the parent charitable company's affairs as at 31 March 2025 and of the Group's incoming resources and application of resources, including its income and expenditure for the year then ended;

∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

∙have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Page 8

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WAVERLEY HOPPA COMMUNITY TRANSPORT (CONTINUED)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

∙the information given in the Trustees' Report for the financial year for which the financial statements are prepared is consistent with the financial statements.

∙the Trustees' Report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

∙the parent charitable company has not kept adequate and sufficient accounting records, or returns adequate for our audit have not been received from branches not visited by us; or

∙the parent charitable company financial statements are not in agreement with the accounting records and returns; or

∙certain disclosures of Trustees' remuneration specified by law are not made; or

∙we have not received all the information and explanations we require for our audit; or

∙the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' Report and from the requirement to prepare a Strategic Report.

Page 9

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WAVERLEY HOPPA COMMUNITY TRANSPORT (CONTINUED)

Responsibilities of trustees

As explained more fully in the Trustees' Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the Group and parent charitable company and the industry in which they operate, and considered the risk of acts by the Group and parent charitable company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006, the Charities Act 2011 and UK tax legislation.
Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the Trustees that represented a risk of material misstatement due to fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report.

Page 10

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WAVERLEY HOPPA COMMUNITY TRANSPORT (CONTINUED)

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company's trustees, as a body, Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Mark Dickinson FCA (Senior Statutory Auditor)

for and on behalf of

Shaw Gibbs (Audit) Limited

Statutory Auditor

Wey Court West

Union Road

Farnham

Surrey

GU9 7PT

26 September 2025

Page 11

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31 MARCH 2025

	Restricted funds 2025	Unrestricted funds 2025	Total funds 2025	Total funds 2024
Note	£	£	£	£

Income from:
Donations and legacies	4	195,526	2,458	197,984	65,349
Charitable activities	5	262,173	31,103	293,276	169,010
Other trading activities	6	-	1,115,477	1,115,477	1,183,541
Investments	7	-	10,954	10,954	3,787
Other income	8	-	25,020	25,020	22,106
Total income		457,699	1,185,012	1,642,711	1,443,793

Expenditure on:
Raising funds	10	-	6,508	6,508	4,579
Charitable activities	11	355,800	1,173,324	1,529,124	1,396,389
Total expenditure		355,800	1,179,832	1,535,632	1,400,968

Net income

101,899

5,180

107,079

42,825

Transfers between funds	21	(106,899)	106,899	-	-
Net movement in funds before other recognised gains/(losses)		(5,000)	112,079	107,079	42,825

Other recognised gains/(losses):
Actuarial losses on defined benefit pension schemes	27	-	110,000	110,000	107,000
Pension surplus not recognised	27	-	(132,000)	(132,000)	(122,000)
Net movement in funds		(5,000)	90,079	85,079	27,825

Reconciliation of funds:
Total funds brought forward	151,932	415,641	567,573	539,748
Net movement in funds	(5,000)	90,079	85,079	27,825
Total funds carried forward	146,932	505,720	652,652	567,573

The Consolidated Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 18 to 44 form part of these financial statements.

Page 12

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

REGISTERED NUMBER: 04989679

CONSOLIDATED BALANCE SHEET

AS AT 31 MARCH 2025

			2025		2024
	Note		£		£

Fixed assets
Tangible assets	16		517,904		375,029
			517,904		375,029
Current assets
Debtors	18	151,168		157,454
Cash at bank and in hand		207,961		270,602
		359,129		428,056
Creditors: amounts falling due within one year	19	(141,881)		(138,729)
Net current assets			217,248		289,327
Total assets less current liabilities			735,152		664,356
Creditors: amounts falling due after more than one year	20		(82,500)		(96,783)
Net assets excluding pension asset			652,652		567,573
Defined benefit pension scheme asset	27		-		-
Total net assets			652,652		567,573

Charity funds
Restricted funds	21	146,932	151,932
Unrestricted funds	21	505,720	415,641
Total funds		652,652	567,573

Page 13

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

REGISTERED NUMBER: 04989679

CONSOLIDATED BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2025

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

R I Stansbury Trustee
Date: 26 September 2025
The notes on pages 18 to 44 form part of these financial statements.

Page 14

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

REGISTERED NUMBER: 04989679

COMPANY BALANCE SHEET

AS AT 31 MARCH 2025

			2025		2024
	Note		£		£

Fixed assets
Tangible assets	16		517,904		375,029
Investments	17		1		1
			517,905		375,030
Current assets
Debtors	18	211,164		291,880
Cash at bank and in hand		142,763		130,976
		353,927		422,856
Creditors: amounts falling due within one year	19	(136,681)		(133,529)
Net current assets			217,246		289,327
Total assets less current liabilities			735,151		664,357
Creditors: amounts falling due after more than one year	20		(82,500)		(96,783)
Net assets excluding pension asset			652,651		567,574
Total net assets			652,651		567,574

Charity funds
Restricted funds:
Restricted funds	21	146,932		151,932
Total restricted funds	21		146,932		151,932
Unrestricted funds
Unrestricted funds excluding pension asset	21	511,519		415,642
Total unrestricted funds	21		505,719		415,642
Total funds			652,651		567,574

Page 15

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

REGISTERED NUMBER: 04989679

COMPANY BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2025

The Company's net movement in funds for the year was £217,077 (2024 - £149,825).

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

R I Stansbury Trustee
Date: 26 September 2025
The notes on pages 18 to 44 form part of these financial statements.

Page 16

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2025

				2025	2024
			Note	£	£

Cash flows from operating activities
Net cash used in operating activities	23	190,742	116,865
Cash flows from investing activities
Proceeds from the sale of tangible fixed assets		13,250	19,500
Purchase of tangible fixed assets		(253,935)	(106,329)
Net cash used in investing activities		(240,685)	(86,829)

Cash flows from financing activities
Repayments of borrowing	(162,453)	(76,742)
New finance leases	149,755	95,408
Net cash (used in)/provided by financing activities	(12,698)	18,666

Change in cash and cash equivalents in the year		(62,641)	48,702
Cash and cash equivalents at the beginning of the year		270,602	221,900
Cash and cash equivalents at the end of the year	24	207,961	270,602

The notes on pages 18 to 44 form part of these financial statements

Page 17

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

Waverley Hoppa Community Transport is a private company limited by guarantee, incorporated in England. The registered office address is Unit 8 Towergate Business Centre, Coopers Place, Combe Lane, Wormley, Godalming, Surrey, GU8 5SZ. The registered company number is 04989679.

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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Waverley Hoppa Community Transport 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.

The Consolidated Statement of Financial Activities (SOFA) and Consolidated Balance Sheet consolidate the financial statements of the Company and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Financial Activities in these financial statements.

2.2

Going concern

The Company reported a surplus for the year of £107k before actuarial gains.
The Trustees believe that their growth strategies – particularly in providing transport services for the NHS - will ensure that the Company continues to be a going concern at present. However they also acknowledge that there are longer term issues that will have an impact, including: financial pressures on local council funding and the continual requirement to refresh the ageing fleet of vehicles. The introduction of electric vehicles to the fleet has also involved significant initial expenditure, and could not have been achieved without capital grant support.

2.3

Income

All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Incoming resources from charitable activities are recognised when the service has been provided.

Grants are included in the Consolidated Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Page 18

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)


	2.4	Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.

Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs.

All costs are charged to restricted or unrestricted expenses based on mileage.

2.5

Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Group; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.6

Taxation

The Company is considered to meet the definition of a charitable company for UK corporation tax purposes. Accordingly, the Company is potentially exempt from taxation in respect of income or capital gains received, to the extent that such income or gains are applied exclusively to charitable purposes.

2.7

Tangible fixed assets and depreciation

Tangible fixed assets are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives,

Depreciation is provided on the following bases:

Leasehold property	-	50 years straight line
Motor vehicles	-	25% reducing balance
Equipment	-	25% straight line

Page 19

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.8

Investments

Investments in subsidiaries are valued at cost less provision for impairment.

2.9

Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.10

Cash at bank and in hand

Cash at bank and 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.

2.11

Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

2.12

Financial instruments

The Group 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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.13

Finance leases and hire purchase

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the Group. Obligations under such agreements are included in creditors, net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Consolidated Statement of Financial Activities so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

2.14

Operating leases

Rentals paid under operating leases are charged to the Consolidated Statement of Financial Activities on a straight line basis over the lease term.

Page 20

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.15

Pensions

The Group operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Group to the fund in respect of the year.

The Group operates a defined benefits pension scheme and the pension charge is based on an actuarial valuation dated 31 March 2024.
The liability recognised on the balance sheet in respect of the defined benefit plan is the present value of the defined benefit obligation at the end of the reporting date less the fair value of the plan assets at the reporting date.

The defined benefit obligation is calculated using the projected unit credit method. Annually the Company engages independent actuaries to calculate the obligation. The present value is determined by discounting the estimated future payments using market yields on high quality corporate bonds that are denominated in sterling and that have terms approximating the estimated period of future payments.

The fair value of plan assets is measured in accordance with the FRS 102 fair value hierarchy.

2.16

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

2.17

Group VAT registration

The Company is part of a group VAT registration with Hoppa Limited. Waverley Hoppa Community Transport is the nominated company, responsible for submitting the returns and for making the payments on behalf of the companies in the group VAT registration.

Page 21

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

3.	Critical accounting estimates and areas of judgment

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

Useful economic lives of tangible assets
The annual depreciation charge is sensitive to changes in the economic lives and residual values of the assets.
Defined benefit pension scheme
The Company has obligations to pay pension benefits to certain employees. The cost of these benefits and the present value of the obligation depend on a number of factors, including life expectancy, asset valuations and the discount rate on corporate bonds. Management engages professional services to assist in estimating these factors in determining the net present asset or obligation in the balance sheet. The assumptions reflect historical experience and current trends, but are sensitive to changes. There is uncertainty about whether to recognise any surplus on the scheme.
Restricted cost recognition
The Company applies judgement in the recognition of restricted expenditure and basis this on mileage by route, but other methods of calculating the split could achieve a different outcome.

Page 22

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

4.	Income from donations and legacies

		Restricted funds 2025	Unrestricted funds 2025	Total funds 2025
		£	£	£


Donations	163,026	1,003	164,029
Grants	32,500	1,455	33,955
Total 2025	195,526	2,458	197,984


Restricted funds 2024	Unrestricted funds 2024	Total funds 2024
£	£	£


Donations	15,000	8,236	23,236
Grants	37,500	4,613	42,113
Total 2024	52,500	12,849	65,349

5.	Income from charitable activities

		Restricted funds 2025	Unrestricted funds 2025	Total funds 2025
		£	£	£


Transport	-	31,103	31,103
Performance related grants	262,173	-	262,173
Total 2025	262,173	31,103	293,276

Restricted income includes £26,100 to represent the value of donated electric vehicle use from Surrey County Council.

Page 23

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

5.Income from charitable activities (continued)


Restricted funds 2024	Unrestricted funds 2024	Total funds 2024
£	£	£


Transport	-	21,196	21,196
Performance related grants	147,814	-	147,814
Total 2024	147,814	21,196	169,010

Income from other trading activities

Income from non charitable trading activities

	Unrestricted funds 2025	Total funds 2025
	£	£


	Subsidiary company income	1,115,477	1,115,477


			Unrestricted funds 2024	Total funds 2024
			£	£


	Subsidiary company income	1,183,541	1,183,541

7.	Investment income

		Unrestricted funds 2025	Total funds 2025
		£	£


Bank interest receivable	1,954	1,954
Pension income	9,000	9,000
	10,954	10,954

Page 24

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

7.Investment income (continued)


			Unrestricted funds 2024	Total funds 2024
			£	£


Investment income - local cash	787	787
Pension income	3,000	3,000
	3,787	3,787

8.	Other incoming resources

		Unrestricted funds 2025	Total funds 2025
		£	£


	Sundry income	25,020	25,020


			Unrestricted funds 2024	Total funds 2024
			£	£


	Sundry income	22,106	22,106

Page 25

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025


Waverley Borough Council	287,435	101,000
Surrey County Council	81,664	46,814
Haslemere Town Council	7,500	7,500
Farnham Town Council	10,000	10,000
Godalming Town Council	-	5,000
Chiddingfold Parish Council	-	2,000
Cranleigh Parish Council	500	-
Ewehurst Parish Council	400	400
Grayshott Parish Council	-	200
	387,499	172,914

10.

Expenditure on raising funds

Other trading expenses

	Unrestricted funds 2025	Total funds 2025
	£	£


	Subsidiary company expenses	6,508	6,508


			Unrestricted funds 2024	Total funds 2024
			£	£


	Subsidiary company expenses	4,579	4,579

Page 26

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

11.	Analysis of expenditure on charitable activities
	Summary by fund type

		Restricted funds 2025	Unrestricted funds 2025	Total 2025
		£	£	£


	Transport services	355,800	1,173,324	1,529,124

Restricted expenses includes £26,100 to represent the value of donated electric vehicle use from Surrey County Council.


Restricted funds 2024	Unrestricted funds 2024	Total 2024
£	£	£


	Transport services	271,179	1,125,210	1,396,389

12.	Analysis of expenditure by activities

		Activities undertaken directly 2025	Support costs 2025	Total funds 2025
		£	£	£


	Transport services	1,122,635	406,489	1,529,124


Activities undertaken directly 2024	Support costs 2024	Total funds 2024
£	£	£


	Transport services	1,020,054	376,334	1,396,388

Page 27

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

12.Analysis of expenditure by activities (continued)

Analysis of direct costs

	Transport 2025	Total funds 2025
	£	£


Vehicle costs	197,035	197,035
Vehicle storage costs	20,141	20,141
Staff costs	785,632	785,632
Training costs	2,806	2,806
Depreciation and (profit)/loss on disposal	90,921	90,921
Donated cost of electric vehicles	26,100	26,100
Total 2025	1,122,635	1,122,635


		Transport 2024	Total funds 2024
		£	£


Vehicle costs	203,655	203,655
Vehicle storage costs	16,452	16,452
Staff costs	727,644	727,644
Training costs	2,046	2,046
Depreciation and (profit)/loss on disposal	70,257	70,257
Total 2024	1,020,054	1,020,054

Page 28

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

12.Analysis of expenditure by activities (continued)

Analysis of support costs

	Transport 2025	Total funds 2025
	£	£


Staff costs	316,039	316,039
Depreciation	6,890	6,890
Establishment costs	23,860	23,860
Staff related costs	2,481	2,481
Telephone	5,337	5,337
Postage & stationery	2,108	2,108
Advertising and marketing	3,225	3,225
IT development and maintenance	12,343	12,343
Accountancy & bookkeeping	15,305	15,305
Health & safety and professional fees	2,964	2,964
Sundry costs	7,313	7,313
Public relations	8,624	8,624
Total 2025	406,489	406,489

Page 29

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

12.Analysis of expenditure by activities (continued)

Analysis of support costs (continued)

		Transport 2024	Total funds 2024
		£	£


Staff costs	269,544	269,544
Depreciation	6,890	6,890
Establishment costs	36,057	36,057
Staff related costs	4,251	4,251
Telephone	5,756	5,756
Postage & stationery	1,835	1,835
Advertising and marketing	2,189	2,189
IT development and maintenance	10,808	10,808
Accountancy & bookkeeping	6,398	6,398
Entertainment	2,876	2,876
Health & safety and professional fees	6,385	6,385
Sundry costs	7,971	7,971
Public relations	10,074	10,074
Governance costs	5,300	5,300
Total 2024	376,334	376,334

13.	Auditor's remuneration
		2025	2024
		£	£

Fees payable to the Company's auditor for the audit of the Company's annual accounts	8,480	5,300
Fees payable to the Company's auditor in respect of:
All non-audit services not included above	3,956	3,210

Page 30

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

14.	Staff costs
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£


Wages and salaries	957,941	880,298	957,941	880,298
Social security costs	78,425	65,735	78,425	65,735
Pension contributions	38,305	22,154	38,305	22,154
Defined benefit pension adjustment	27,000	29,000	27,000	29,000
	1,101,671	997,187	1,101,671	997,187

The average number of persons employed by the Company during the year was as follows:
	Group	Group	Company	Company
	2025	2024	2025	2024
	No.	No.	No.	No.

Management and administration	2	2	2	2
Despatchers	2	2	2	2
Drivers	41	39	41	39
	45	43	45	43

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
	Group	Group
	2025	2024
	No.	No.


In the band £80,001 - £90,000	-	1
In the band £90,001 - £100,000	1	-

The total employee benefits, including employer pension contributions, of the key management personnel were £99,221 (2024 - £85,324).

Page 31

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025


15.	Trustees' remuneration and expenses
	During the year, one or more Trustees has been paid remuneration or has received other benefits from an employment with the Company. This is for services provided as General Manager and is permitted by the governing documents. The value of Trustees' remuneration and other benefits was as follows:
		2025	2024
		£	£

R J H Davies	Remuneration	82,000	74,280
	Pension contributions paid	7,160	2,048

During the year ended 31 March 2025, expenses totalling £NIL were reimbursed or paid directly to no Trustee (2024 - £1,251 to 1 Trustee).

16.	Tangible fixed assets
	Group

	Long-term leasehold property	Plant and machinery	Equipment	Total
	£	£	£	£
Cost or valuation
At 1 April 2024	153,934	823,079	15,244	992,257
Additions	4,810	249,125	-	253,935
Disposals	-	(106,828)	-	(106,828)
At 31 March 2025	158,744	965,376	15,244	1,139,364
Depreciation
At 1 April 2024	61,308	552,109	3,811	617,228
Charge for the year	3,134	95,024	3,811	101,969
On disposals	-	(97,737)	-	(97,737)
At 31 March 2025	64,442	549,396	7,622	621,460
Net book value
At 31 March 2025	94,302	415,980	7,622	517,904
At 31 March 2024	92,626	270,970	11,433	375,029

Page 32

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

16.Tangible fixed assets (continued)

	Company

	Long-term leasehold property	Plant and machinery	Equipment	Total
	£	£	£	£
Cost or valuation
At 1 April 2024	153,934	823,079	15,244	992,257
Additions	4,810	249,125	-	253,935
Disposals	-	(106,828)	-	(106,828)
At 31 March 2025	158,744	965,376	15,244	1,139,364
Depreciation
At 1 April 2024	61,308	552,109	3,811	617,228
Charge for the year	3,134	95,024	3,811	101,969
On disposals	-	(97,737)	-	(97,737)
At 31 March 2025	64,442	549,396	7,622	621,460
Net book value
At 31 March 2025	94,302	415,980	7,622	517,904
At 31 March 2024	92,626	270,970	11,433	375,029

The net book value of assets held under finance leases or hire purchase contracts, included above, are £131,587 (2024 - £143,335).

Page 33

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

17.	Fixed asset investments

		Investments in subsidiary companies
	Company	£
	Cost or valuation
	At 1 April 2024	1
	At 31 March 2025	1
	Net book value
	At 31 March 2025	1
	At 31 March 2024	1

Principal subsidiaries

The following was a subsidiary undertaking of the Company:

	Name	Company number	Holding	Included in consolidation
	Hoppa Limited	08793063	100%	Yes

The financial results of the subsidiary for the year were:

	Name	Income £	Expenditure £	Profit/(Loss) for the year £	Net assets £
	Hoppa Limited	1,115,477	(1,009,248)	106,229	1

Page 34

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

18.	Debtors
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£


Due within one year
Trade debtors	107,429	130,402	-	2,363
Amounts owed by group undertakings	-	-	167,425	262,465
Other debtors	43,739	27,052	43,739	27,052
	151,168	157,454	211,164	291,880

19.	Creditors: Amounts falling due within one year
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£


Bank loans	9,405	10,053	9,405	10,053
Trade creditors	4,608	6,374	4,608	6,374
Other taxation and social security	16,642	22,149	16,642	22,149
Obligations under finance lease and hire purchase contracts	34,939	32,706	34,939	32,706
Other creditors	6,539	5,994	6,539	5,993
Accruals and deferred income	69,748	61,453	64,548	56,254
	141,881	138,729	136,681	133,529

The net obligations under finance leases and hire purchase contracts are secured over the leased assets.

Page 35

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025


20.	Creditors: Amounts falling due after more than one year
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£


Bank loans	1,667	11,667	1,667	11,667
Net obligations under finance lease and hire purchase contracts	80,833	85,116	80,833	85,116
	82,500	96,783	82,500	96,783

The net obligations under finance leases and hire purchase contracts are secured over the leased assets.

Included within the above are amounts falling due as follows:
	Group	Group	Company	Company
	2025	2024	2025	2024
	£	£	£	£

	Between one and two years
	Bank loans	1,667	10,000	1,667	10,000

	Between two and five years
	Bank loans	-	1,667	-	1,667

The bounce back loan was obtained in May 2020 and the first repayment was made in June 2021. Interest is payable at 2.5% per annum and was paid by the Government for the first 12 months of the loan.

Page 36

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

21.

Statement of funds

Statement of funds - current year
	Balance at 1 April 2024 £	Income £	Expenditure £	Transfers in/out £	Gains/ (Losses) £	Balance at 31 March 2025 £
Unrestricted funds

General Funds	415,641	1,185,012	(1,201,832)	106,899	-	505,720
Pension reserve	-	-	22,000	-	(22,000)	-
	415,641	1,185,012	(1,179,832)	106,899	(22,000)	505,720

Restricted funds
Property Grant	146,932	-	-	-	-	146,932
Capital Grants	-	136,926	-	(136,926)	-	-
Hospital Hoppa	-	62,500	(90,961)	28,461	-	-
Demand Responsive	-	232,173	(238,739)	6,566	-	-
Apprentice Fund	5,000	-	-	(5,000)	-	-
SCC donated EVs	-	26,100	(26,100)	-	-	-
	151,932	457,699	(355,800)	(106,899)	-	146,932

Total of funds

567,573

1,642,711

(1,535,632)

(22,000)

652,652

The property grant of £150,000 was provided by Surrey County Council to purchase the Company's current premises. The grant is repayable if the charity ceases to trade.
The Hospital Hoppa and Demand Responsive funds comprise grant funding for costs in connection with these services. Costs have been apportioned in relation to mileage.
The capital grant is funds collected for the purchase of new buses and associated equipment.
Any excess of expenses over income has been met from unrestricted funds and is shown by transfer.

Page 37

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

21.

Statement of funds (continued)

Statement of funds - prior year
	Balance at 1 April 2023 £	Income £	Expenditure £	Transfers in/out £	Gains/ (Losses) £	Balance at 31 March 2024 £
Unrestricted funds

General Funds	372,697	1,243,478	(1,144,788)	(55,746)	-	415,641
Pension reserve	-	-	15,000	-	(15,000)	-
	372,697	1,243,478	(1,129,788)	(55,746)	(15,000)	415,641

Restricted funds
Property Grant	146,932	-	-	-	-	146,932
Capital Grants	15,119	15,000	-	(30,119)	-	-
Hospital Hoppa	-	15,000	(50,650)	35,650	-	-
Demand Responsive	-	170,314	(220,529)	50,215	-	-
Apprentice Fund	5,000	-	-	-	-	5,000
	167,051	200,314	(271,179)	55,746	-	151,932

Total of funds

539,748

1,443,792

(1,400,967)

(15,000)

567,573

Page 38

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

22.

Analysis of net assets between funds

Analysis of net assets between funds - current year
	Restricted funds 2025	Unrestricted funds 2025	Total funds 2025
	£	£	£

Tangible fixed assets	146,932	370,972	517,904
Current assets	-	359,129	359,129
Creditors due within one year	-	(141,881)	(141,881)
Creditors due in more than one year	-	(82,500)	(82,500)
Total	146,932	505,720	652,652

Analysis of net assets between funds - prior year
	Restricted funds 2024	Unrestricted funds 2024	Total funds 2024
	£	£	£

Tangible fixed assets	146,932	228,097	375,029
Current assets	5,000	423,056	428,056
Creditors due within one year	-	(138,729)	(138,729)
Creditors due in more than one year	-	(96,783)	(96,783)
Total	151,932	415,641	567,573

Page 39

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

23.	Reconciliation of net movement in funds to net cash flow from operating activities
		Group	Group
		2025	2024
		£	£

Net income for the year (as per Statement of Financial Activities)	107,079	42,825
Adjustments for:
Depreciation charges	101,969	86,344
Loss/(Profit) on the sale of fixed assets	(4,159)	(9,197)
(Increase)/Decrease in debtors	6,286	18,574
Increase/(decrease) in creditors	1,567	(6,681)
Non-cash movement on pension liability	(22,000)	(15,000)
Net cash provided by operating activities	190,742	116,865

24.	Analysis of cash and cash equivalents
		Group	Group
		2025	2024
		£	£

	Cash in hand	207,961	270,602
	Total cash and cash equivalents	207,961	270,602

25.	Analysis of changes in net debt

		At 1 April 2024	Cash flows	New finance leases	Other non-cash changes	At 31 March 2025
		£	£	£	£	£

Cash at bank and in hand	270,602	(62,641)	-	-	207,961
Debt due within 1 year	(10,053)	10,648	-	(10,000)	(9,405)
Debt due after 1 year	(11,667)	-	-	10,000	(1,667)
Finance leases	(117,822)	(154,213)	156,263	-	(115,772)
	131,060	(206,206)	156,263	-	81,117

Page 40

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

26.	Capital commitments
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£

	Contracted for but not provided in these financial statements
	Acquisition of tangible fixed assets	-	145,638	-	145,638

27.	Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £24,927 (2024 - £17,585). Employee and employer contributions totalling £3,412 (2024 - £3,868) were payable to the fund at the balance sheet date and are included in creditors.

The Group operates a defined benefit pension scheme.

The charity participates in a multi-employer defined benefits pension scheme, Surrey County Council's Occupational Pension Scheme.
The contributions paid during the year were £39,529 (2024 - £40,738). Contributions totalling £3,610 were payable to the fund (2024 - £4,031) at the balance sheet date and are included in creditors.

The most recent actuarial valuation was carried out for the year ended 31 March 2025 by Hymans Robertson LLP.

Principal actuarial assumptions at the Balance Sheet date (expressed as weighted averages):
	At 31 March 2025	At 31 March 2024
	%	%

Discount rate	5.8	4.8
Future salary increases	3.8	3.8
Future pension increases	2.8	2.8


				At 31 March 2025	At 31 March 2024
				Years	Years

Mortality rates (in years)
- for a male aged 65 now	21.6	21.7
- at 65 for a male aged 45 now	21.0	21.1
- for a female aged 65 now	25.1	25.2
- at 65 for a female aged 45 now	25.8	25.9

Page 41

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

27.Pension commitments (continued)

The Group's share of the assets in the scheme was:
	At 31 March 2025	At 31 March 2024
	£	£

Equities	663,300	632,530
Corporate bonds	722,260	750,210
Property	73,700	58,840
Cash and other liquid assets	14,740	29,420
Total fair value of assets	1,474,000	1,471,000

The actual return on scheme assets was £70,000 (2024 - £63,000).

The amounts recognised in the Consolidated Statement of Financial Activities are as follows:
	2025	2024
	£	£

Current service cost	27,000	29,000
Interest income	(70,000)	(63,000)
Interest cost	61,000	60,000
Total amount recognised in the Consolidated Statement of Financial Activities	18,000	26,000

Movements in the present value of the defined benefit obligation were as follows:
	2025	2024
	£	£

Opening defined benefit obligation	1,289,000	1,297,000
Current service cost	27,000	29,000
Interest cost	61,000	60,000
Contributions by scheme participants	6,000	6,000
Actuarial gains	(172,000)	(14,000)
Benefits paid	(51,000)	(89,000)
Closing defined benefit obligation	1,160,000	1,289,000

Page 42

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

27.Pension commitments (continued)

Movements in the fair value of the Group's share of scheme assets were as follows:
	2025	2024
	£	£

Opening fair value of scheme assets	1,471,000	1,357,000
Expected return on assets	70,000	63,000
Actuarial (losses)/gains	(62,000)	93,000
Contributions by employer	40,000	41,000
Contributions by scheme participants	6,000	6,000
Benefits paid	(51,000)	(89,000)
Closing fair value of scheme assets	1,474,000	1,471,000

The Group has a total unrecognised surplus of £314,000 (2024 - £182,000) in respect of its defined benefit pension scheme as it does not expect to recover the plan surplus either through reduced contributions in the future or through refunds from the plan.

Defined benefit obligation	(1,160,000)	(1,289,000)
Scheme assets	1,474,000	1,471,000
Unrecognised surplus	(314,000)	(182,000)
Net surplus/(deficit)	-	-

Surrey County Council have agreed to provide a guarantee for the defined pension scheme.

Page 43

WAVERLEY HOPPA COMMUNITY TRANSPORT

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

28.	Operating lease commitments
	At 31 March 2025 the Group and the Company had commitments to make future minimum lease payments under non-cancellable operating leases as follows:
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£


Not later than 1 year	18,000	18,000	18,000	18,000
Later than 1 year and not later than 5 years	72,000	72,000	72,000	72,000
Later than 5 years	9,000	27,000	9,000	27,000
	99,000	117,000	99,000	117,000

The following lease payments have been recognised as an expense in the Statement of Financial Activities:
	Group	Group	Company	Company
	2025	2024	2025	2024
	£	£	£	£


	Operating lease rentals	18,000	15,000	18,000	15,000

29.	Members' liability

Each member of the charitable company undertakes to contribute to the assets of the Company in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £10 for the debts and liabilities contracted before he/she ceases to be a member.

30.	Related party transactions

During the year the Company traded with Hoppa Limited, a wholly owned subsidiary. Total sales, in the form of recharged costs, amounted to £1,115,477 (2024: £1,059,638).
During the year gift aid distributions of £106,229 (2024: £119,324) was receivable from Hoppa Limited.
At the year end, Hoppa Limited owed the Company £167,425 (2024: £262,465).

Page 44