Online Transport Archive. (Limited by Guarantee) Company number (England and Wales) Directors Report and Accounts

Transcription

1 Company number (England and Wales) Directors Report and Accounts for the year ended 30 June 2014

2 Contents Page Directors Report 1 Statement of Financial Activities 3 Balance Sheet 4 Notes to the Accounts 6

3 Directors Report The Directors present their report together with accounts for the year ended 30 June Principal activity The principal activity of the company during the year continued to be the archiving and preservation of transport related film, video and photographic material. Review Since its formation in 2001 (OTA) continues to make progress with the archiving and preservation of transport-related film and photographic material. It has become a valuable resource for authors and publishers in the transport field. Since January 2004, the company has been registered as a charity. Its stated object, as registered with the Charity Commissioners, is: to advance the education of the public, particularly but not exclusively, in the history of railway, tramway, road, air and water transport through the collection of film, colour slides, photographic negatives and prints, videotape, electronic images in all formats and other artefacts. Its activities can be summarised as: care and administration of transport-related film and photograph collections conservation work relating to these collections assistance to bona fide authors/researchers in this field availability of the Archive to bona fide publishers thereby ensuring that the collections are made available to the public at large OTA involvement in the authoring of transport titles has continued in the year under review as has the provision of images to third-party authors and publishers. Amongst publications that have featured OTA images are: London s Last Trams (Adam Gordon), Western Branches, Western Byways (Ian Allan Publishing), Berlin Buses (Brian Patton), Stations & Structures of the Settle & Carlisle Railway (OPC),25 Years of London Transport (Ian Allan Publishing), Rotherham Trolleybuses (Middleton Press), Crosville in Colour (Ian Allan Publishing), Trams in the British Isles (Crecy), Colours of West Yorkshire (Capital Transport) and Amsterdam Trams (LRTA). Income for 2013/14 was significantly lower than in 2012/13 with a decrease in income from writing and reproduction fees and from donations. In terms of expenditure, there was also a significant decrease over the sums expended in 2012/13. Whilst management and administrative costs were largely unchanged from 2012/13, there was an increase in rent reflecting the greater area housing the collection at Hersham. Conversely, there was no comparable expenditure in 2013/14 similar to that incurred the previous year on the digital conversion of the 9.5mm film stock. The end result was a significant reduction in OTA s profit in the 2013/14 financial year. OTA anticipates an improved financial pattern for the 2014/2015 financial year, as a new project

4 with Ian Allan Publishing is due for release and the number of images supplied for reproduction continues to grow, but remains in a healthy financial position because of its remaining reserves. Corporate governance is provided through a board of directors most of whom have standing in the world of transport heritage, photography and film making. The OTA s Honorary Treasurer has continued to ensure that finances have been managed on a prudent basis. The directors each take an active role in furthering the company s aims and they are actively assisted in this by a number of members, During 2013/14, the Archive received further important film and photographic donations and collections/materials. Notable amongst these have been historically important collections (or parts of collections) from Gerald Druce, John May, Alan Ralphs courtesy the Bolton 66 Group; Jim Jordan, G.W.Morant, Alex MacDonald, Richard Lomas, DWK Jones (Isle of Thanet tram negatives, courtesy Barry Cross), Ed Springer, Jim Joyce and AP Tatt. The number of enquiries relating to future deposit of collections is increasing notably. In the same period material from OTA-held collections has been published in a number of transport-related magazines and books, with material being requested from several publishers and other bodies. OTA directors continue to give a significant number of public lectures nationwide illustrated with material from the Archive. These, as well as helping bring Archive material to a wider audience, also help to spread the message about the importance of will-writing to ensure that collections are preserved for posterity. To this end, some vintage Dufay colour negatives have been converted into slides so they can be shown to a wider audience. To provide additional information, the Archive issued its fourth newsletter in 2014 to members and friends. This elicited a considerable amount of positive feedback from those who had received it. Following a number of years negotiation, a contract was signed late in the financial year with Unseen Archive Ltd for the investigation, cataloguing, digitalisation and exploitation of OTA s film collection. Whilst no royalties have been earned during the current year, the contract provides for a royalty on all footage licensed and for the supply of a digital transfer of film for the OTA collection. This will mean that film can be used in the future for talks and other activities in a digital format, thus allowing the original film to be securely conserved. is making good progress and has worked hard to ensure effective storage of its collections, whilst continuing to work hard to make material available to the enthusiast community Directors The directors during the year were: David John Bishop Resigned 16 November 2013 Philip Hanson Frank Ernest Martin Jenkins Kevin Richard McCormack Charles Christopher Roberts Michael John Russell Michael Peter Waller Peter Alexander Whitehead

5 Incoming Resources Statement of Financial Activities for the year ended 30 June Unrestricted Unrestricted Notes Funds Funds Gifts and Donations 375 1,300 Gift Aid tax reclaimable 0 0 Investment Interest Royalties, Reproduction & Writing Fees 2,913 7,137 Miscellaneous sales - Photo's, CDs etc ,729 8,803 Total Incoming Resources Resources expended Cost of generating funds: Royalties paid over/complimentary copies Direct charitable expenditure: Conservation Mats/ Storage containers Purchase of computer hardware 0 0 Production costs/transfer to digital 0 4,300 Miscellaneous Travel/Accommodation Publicity (incl. Website costs) 0 1, ,485 Management and administration costs: Rent of Premises 2, Depreciation (Computer & Scanner) 0 0 Printing/postage/stationery Directors Expenses 961 Legal (Companies House Reg.) Bank charges 0 2, ,010 Total Resources Expended 3,658 8,189 Surplus for the financial year Fund balance brought forward at 1st July ,378 36,764 Fund balance carried forward at 30th June ,449 37,378

6 Balance Sheet at 30th June 2014 Notes Current Assets Computer & Scanner 0 0 Less depreciation Trade Debtor 0 0 Inland Revenue 0 Cash at Bank: Community A/c 6,743 6,799 Business Manager Money A/c 21,295 11,054 0 High Interest Bond Matures 17th Nov ,000 High Interest Bond Matures 10th April ,000 10,000 38,038 37,853 38,038 37,853 Creditors - amounts falling due within one year Sundry Creditor/Uncleared cheques Net Assets 37,449 37,378 Capital funds Unrestricted funds 37,449 37,378 NB. The notes on pages 8 and 9 form part of these accounts Directors statements for the year ended 30 th June 2014 The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2014 in accordance with Section 476 of the Companies Act The directors acknowledge their responsibilities for: a) ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006, and 221, and b) preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit or loss for each financial year in

7 accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. The accounts were approved by the board of Directors on 15 November 2014 and signed on its behalf by Dr Charles Roberts Chairman/Director Bill Lucas Treasurer

8 1. Accounting Policies (Limited by guarantee) Notes to the accounts Year ended 30 th June Basis of preparing the accounts The accounts are prepared under the historical cost convention and in accordance with applicable accounting standards. The company has taken advantage of the exemption in FRS 1 from the requirement to produce a cash flow statement because it is a small company. 1.2 Incoming Resources Donations are accounted for when they are received. Investment interest is also accounted for when it is received in view of the relatively minor sums involved. All other income is accounted for on a receivable basis. 1.3 Resources expended All expenditure is accounted for on an accruals basis. Direct charitable expenditure consists of costs incurred for the purpose of carrying out the objectives of the charity. All travel/accommodation costs are now shown as direct charitable expenditure instead of being split to show the amount related to the cost of generating funds. Management and administration costs are those incurred in the administration of the charity. 1.4 Fixed assets The charity s objective is the preservation of transport related film, video and photographic material. All such materials and collections have been donated to the charity so have no direct cost. The Directors, therefore, consider that it is not possible to place a value on them. However, they are now taking positive steps to catalogue and record the collections held. 2. Directors emoluments and expenses No remuneration was paid to any Director during the year although reimbursements were made for postage and other expenses. Excluding the travel and subsistence costs directly related to the production of specific publications or in the acquisition and transfer of collections, the Directors were not reimbursed with any travel expenses during the year. 3. Number of employees The company had no employees in the current or previous years.

9 4. Taxation No corporation tax is payable as the company is registered as a charity. 5. Capital Funds The company is limited by guarantee and does not have a share capital. Each member gives a guarantee to contribute a sum, not exceeding 1, to the company should it be wound up. At 30 th June 2014, there were 16 members. No reconciliation of movements in shareholders funds has been prepared as the company is limited by guarantee and does not have shareholders. There were no changes in reserves in the current or previous year other than the surplus in the statement of financial activities. 6. Banking Arrangements The banking arrangements regarding the balances of cash held are under constant review by the Treasurer. As a result, any surplus funds not immediately required, which arose in the year, were put into High Interest Bonds with HSBC, to obtain as good a rate of interest as practical. The current low interest rates produced an income of 241 (2012/13 216). The current level of income is forecast to continue for the next year at least, in view of the current financial climate. 7. Donations The Charity has benefited greatly from one donation received during the year. 8. Gift Aid Following previous approval of the Gift Aid scheme by the Inland Revenue, Gift Aid tax refunds are now claimed for all donations, which satisfy the requirements of the scheme. The total sum reclaimed from donations in 2013/14 was 0 (2012/13 0). 9. Rent for Accommodation The rent for the storage accommodation has been paid for the 12 months up to 30 th June 2014 and in advance for the period to 30 th June Royalties/Reproduction Fees The income of 3,729 (2012/13 8,803) shown in the accounts includes the royalties for a number of images used in publications during the course of the year. The 2012/13 figure was inflated by a significant contribution from Capital Transport for the publication of Colours of Merseyside. At present there is only one OTA contracted project Merseyside Transport Remembered with Ian Allan Publishing scheduled for 2015 publication and one Slow to a Halt for which a published is being sought. There has been an encouraging growth in the use of OTA images in other publishers titles but this will need to grow significantly if the 2013/14 level of income is going to be increased.