Toll Rides (Off Road) Trust Charity Accounts

Toll Rides (Off Road) Trust Charity Accounts

TOLL RIDES (OFF ROAD) TRUST - Company Information

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COMPANY REGISTRATION NUMBER: 02723698
CHARITY REGISTRATION NUMBER: 1020850
Toll Rides (Off Road) Trust
Company Limited by Guarantee
Unaudited Financial Statements
30 April 2020
Toll Rides (Off Road) Trust
Company Limited by Guarantee
Financial Statements
Year ended 30 April 2020
Page
Trustees' annual report (incorporating the director's report)
1
Statement of financial activities (including income and expenditure account)
4
Statement of financial position
5
Statement of cash flows
6
Notes to the financial statements
7
Toll Rides (Off Road) Trust
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 30 April 2020
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 30 April 2020 .
Reference and administrative details
Registered charity name
Toll Rides (Off Road) Trust
Charity registration number
1020850
Company registration number
02723698
Principal office and registered
Sportsman Farm
office
St Michaels
Tenterden
Kent
TN30 6SY
The trustees
S Mabb
(Served from 31 July 2011 to 11 September 2013)
Mrs C Hodge
M Morris
J Norris
V Pilcher
(Served from 1 April 2012 to 18 March 2015)
Mrs D Pilkington
(Served from 1 January 2000 to 30 September 2012)
A Williams
(Served from 1 August 2010 to 30 July 2011)
Company secretary
M Morris
Accountants
David Payne
Accountants
Sportsman Farm
St Michaels
Tenterden
Kent
TN30 6SY
Structure, governance and management
Responsibility for compliance is that of the Trustees, who consult as and when needed with appropriate professionals. Any issues out of the ordinary are communicated to the Trustees by email or telephone. The Trustees hold meetings on a very regular basis.
Objectives and activities
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.
Strategic report
The following sections for achievements and performance and financial review form the strategic report of the charity.
Achievements and performance
A comprehensive membership database update was undertaken throughout the year, with all members contacted and requested to confirm or update the details that we hold for them. They were also asked to provide feedback on TROT, it's service and it's routes. Their responses will be used to prioritise tasks to be undertaken during 2020-2021.
Financial review
Regular Solvency Tests and Reviews of Income and Expenditure are drawn up and reviewed by the Trustees on a regular basis both at formal meetings and via email or informal meetings.
Plans for future periods
Objectives for 2020-2021 include increased policing of routes, continuation of the member recruitment programme. The significant improvement of the website is being undertaken.
The trustees' annual report and the strategic report were approved on 26 June 2020 and signed on behalf of the board of trustees by:
M Morris
M Morris
Trustee
Charity Secretary
Toll Rides (Off Road) Trust
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 30 April 2020
2020
2019
Unrestricted funds
Total funds
Total funds
Note
£
£
£
Income and endowments
Donations and legacies
5
70,490
70,490
65,516
Other trading activities
6
( 1,696)
( 1,696)
–
Investment income
7
188
188
123
--------
--------
--------
Total income
68,982
68,982
65,639
--------
--------
--------
Expenditure
Expenditure on raising funds:
Costs of other trading activities
8
40
40
1,377
Expenditure on charitable activities
9,10
36,837
36,837
37,136
--------
--------
--------
Total expenditure
36,877
36,877
38,513
--------
--------
--------
--------
--------
--------
Net income and net movement in funds
32,105
32,105
27,126
--------
--------
--------
Reconciliation of funds
Total funds brought forward
97,555
97,555
70,429
---------
---------
--------
Total funds carried forward
129,660
129,660
97,555
---------
---------
--------
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Toll Rides (Off Road) Trust
Company Limited by Guarantee
Statement of Financial Position
30 April 2020
2020
2019
Note
£
£
£
Current assets
Cash at bank and in hand
211,374
244,134
Creditors: amounts falling due within one year
15
76,714
140,129
---------
---------
Net current assets
134,660
104,005
---------
---------
Total assets less current liabilities
134,660
104,005
Creditors: amounts falling due after more than one year
16
5,000
6,450
---------
---------
Net assets
129,660
97,555
---------
---------
Funds of the charity
Unrestricted funds
129,660
97,555
---------
--------
Total charity funds
17
129,660
97,555
---------
--------
For the year ending 30 April 2020 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 26 June 2020 , and are signed on behalf of the board by:
M Morris
Trustee
Toll Rides (Off Road) Trust
Company Limited by Guarantee
Statement of Cash Flows
Year ended 30 April 2020
2020
2019
£
£
Cash flows from operating activities
Net income
32,105
27,126
Adjustments for:
Other interest receivable and similar income
( 188)
( 123)
Interest payable and similar charges
8,738
6,696
Changes in:
Trade and other debtors
–
5,039
Trade and other creditors
( 64,865)
( 2,452)
--------
--------
Cash generated from operations
( 24,210)
36,286
Interest paid
( 8,738)
( 6,696)
Interest received
188
123
--------
--------
Net cash (used in)/from operating activities
( 32,760)
29,713
--------
--------
Net (decrease)/increase in cash and cash equivalents
( 32,760)
29,713
Cash and cash equivalents at beginning of year
244,134
214,421
---------
---------
Cash and cash equivalents at end of year
211,374
244,134
---------
---------
Toll Rides (Off Road) Trust
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 30 April 2020
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 Sportsman Farm, St Michaels, Tenterden, Kent, TN30 6SY.
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 Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
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. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
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 raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - 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.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
All fixed assets are initially recorded at cost.
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:
Computer and Fixtures
-
33% straight line
Bridges & Gates
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Limited by guarantee
5. Donations and legacies
Unrestricted Funds
Total Funds 2020
Unrestricted Funds
Total Funds 2019
£
£
£
£
Donations
Fees Received
70,490
70,490
65,516
65,516
--------
--------
--------
--------
6. Other trading activities
Unrestricted Funds
Total Funds 2020
Unrestricted Funds
Total Funds 2019
£
£
£
£
Hatbands
( 1,696)
( 1,696)
–
–
-------
-------
----
----
7. Investment income
Unrestricted Funds
Total Funds 2020
Unrestricted Funds
Total Funds 2019
£
£
£
£
Bank interest receivable
188
188
123
123
----
----
----
----
8. Costs of other trading activities
Unrestricted Funds
Total Funds 2020
Unrestricted Funds
Total Funds 2019
£
£
£
£
Costs of other trading activities - Membership schemes and social lotteries
40
40
1,377
1,377
----
----
-------
-------
9. Expenditure on charitable activities by fund type
Unrestricted Funds
Total Funds 2020
Unrestricted Funds
Total Funds 2019
£
£
£
£
Support costs
36,837
36,837
37,136
37,136
--------
--------
--------
--------
10. Expenditure on charitable activities by activity type
Support costs
Total funds 2020
Total fund 2019
£
£
£
Governance costs
36,837
36,837
37,136
--------
--------
--------
11. Analysis of support costs
Analysis of support costs activity 1
Total 2020
Total 2019
£
£
£
Staff costs
18,448
18,448
20,182
--------
--------
--------
12. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
2020
2019
£
£
Wages and salaries
18,448
20,182
--------
--------
The average head count of employees during the year was Nil (2019: Nil). The average number of full-time equivalent employees during the year is analysed as follows:
2020
2019
No.
No.
Number of staff - type 3
2
2
----
----
No employee received employee benefits of more than £60,000 during the year (2019: Nil).
13. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
14. Tangible fixed assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 May 2019 and 30 April 2020
13,603
72,113
85,716
--------
--------
--------
Depreciation
At 1 May 2019 and 30 April 2020
13,603
72,113
85,716
--------
--------
--------
Carrying amount
At 30 April 2020
–
–
–
--------
--------
--------
At 30 April 2019
–
–
–
--------
--------
--------
15. Creditors: amounts falling due within one year
2020
2019
£
£
Trade creditors
70,209
133,413
Social security and other taxes
91
302
Ring Fenced Funds
5,274
5,274
Other creditors
1,140
1,140
--------
---------
76,714
140,129
--------
---------
16. Creditors: amounts falling due after more than one year
2020
2019
£
£
Other creditors
5,000
6,450
-------
-------
17. Analysis of charitable funds
Unrestricted funds
At 1 May 2019
Income
Expenditure
At 30 April 2020
£
£
£
£
General funds
97,555
68,982
(36,877)
129,660
--------
--------
--------
---------
At 1 May 2018
Income
Expenditure
At 30 April 2019
£
£
£
£
General funds
70,429
65,639
(38,513)
97,555
--------
--------
--------
--------
18. Analysis of net assets between funds
Unrestricted Funds
Total Funds 2020
£
£
Current assets
211,374
211,374
Creditors less than 1 year
(81,714)
(81,714)
---------
---------
Net assets
129,660
129,660
---------
---------
Unrestricted Funds
Total Funds 2019
£
£
Current assets
244,134
244,134
Creditors less than 1 year
(146,579)
(146,579)
---------
---------
Net assets
97,555
97,555
---------
---------
19. Analysis of changes in net debt
At 1 May 2019
Cash flows
At 30 Apr 2020
£
£
£
Cash at bank and in hand
244,134
(32,760)
211,374
---------
--------
---------