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2025-12-31-accounts

MORE THAN JUST A BIKE

Re-Cycle (Bikes to Africa)

IMPACT REPORT 2025

Including Annual Report and Accounts

DIRECTOR’S MESSAGE

As we reflect on 2025, I am proud to share another year of meaningful impact for Re-Cycle.

What began as a simple idea—that a bicycle can change a life—continues to prove its power across communities in Africa.

This impact would not be possible without the generosity of those who donate bikes, fund our work and give their time. From local collection networks to international logistics and in-country distribution, Re-Cycle is powered by people who believe in practical, sustainable solutions. I am continually inspired by the commitment shown at every stage of this journey.

This year, that belief has been strengthened by the dedication of our supporters, partners, and volunteers, who together have helped expand access to mobility, education, and opportunity.

In 2025, we successfully shipped over 10,000 refurbished bicycles to our partners, each one representing more than just transport. For many recipients, a bicycle is the difference between attending school or not, reaching healthcare in time, or growing a small business. The ripple effects are profound: improved livelihoods, greater independence and stronger, more connected communities.

We also recognise that our responsibility goes beyond delivery. In 2025, we strengthened our partnerships to ensure long-term sustainability—supporting training in bicycle maintenance, encouraging local enterprise, and working collaboratively to maximise the value of every bike we send. We have also worked very hard to extend our UK bike partnerships, which now includes Center Parcs. This puts us in a very good position going forward into 2026, ultimately delivering positive change and impact in Africa for years to come.

While we celebrate these achievements, we remain focused on the challenges ahead. Demand for affordable, reliable transport continues to grow, and we are committed to scaling our efforts responsibly and effectively. With your continued support, we can reach even more individuals and communities in the years to come.

Thank you for being part of this journey. Together, we are not just moving bicycles— we are moving lives forward.

Yours in cycling,

Charlotte Ward Director, Re-Cycle

CONTENTS 04 At a Glance 32 Charity & Company Information 07 Roots in the UK 33 Trustees Report Introduction 08 Our Growing Network Corporate & Community Champions UK Volunteer Network 33 09 33 Structure, Governance and Management Strategic Purpose and Principal Activities Financial review 10 35 12 Supporting our Local Community 36 14 Partners in Africa 36 Reserves 37 16 The Ripple Effect New 2025 Partnership.. Nigeria Building Lasting Change Responsibilities of the trustees in relation to th8 financial statements 22 23 38 Independent Examination Report and Statement 24 A Circular Economy 39 Statement of Financial Activities 27 Our Team & Governance 40 Balance Sheet 28 Funding Our Mission 41 Cashflow Statement 29 Supporting Partners 42 Not&s to the Accounts 30 Looking Ahead

AT A GLANCE

In 2025, we advanced our mission: improving lives through bicycle reuse.

88 UK donation points

36 regular volunteers

15,781 bikes collected

We rescued thousands of quality used bicycles, prepared them with care, and shipped them to trusted partners in Africa.

These bikes became powerful tools for education, healthcare, income generation, wellbeing and lasting community change.

Our progress stayed true to our strategic goals: scaling up collections, strengthening partnerships, and deepening sustainable impact across the UK and Africa — including welcoming a new partner in Nigeria to extend our work to more underserved communities.

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UK
7 20 10,037
countries supported containers loaded bikes sent to Africa
THE GAMBIA
NIGERIA
GHANA
SIERRA LEONE
In 2025, one in three shipped bikes
helped children reach school
----- End of picture text -----

----- Start of picture text -----
MALAWI
ZAMBIA
SOUTH AFRICA
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Another third enabled income generation; helping traders and workers reach markets and job opportunities further afield and increase family earnings to support better nutrition, housing and education.

The remaining bikes improved local access to healthcare, supported farming and strengthened communities. Every bike creates wide, lasting change.

More bikes were donated than shipped in 2025 because not all donations are suitable for African distribution. We also retained a portion to build stock for early 2026 shipments — allowing us to plan effectively, maintain steady supply and keep to our shipping schedule.

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.11,

ROOTS IN THE UK

How We Collect & Prepare Our Bikes

The increase in collections was thanks in large part to the addition of a larger van funded by The Alborada Trust. This upgrade increased our capacity, flexibility and reach, enabling us to rescue more bikes from waste.

Re-Cycle rescues unwanted bikes from across the UK and gives them a second life where they’re needed most. What might have ended up in landfill instead becomes transport, education and opportunity.

At the heart of our UK operations is a dedicated team of volunteers. They carefully triage every bike, checking suitability, turning handlebars, removing wheels for compact packing and preparing everything for safe container loading. Many also drive our vans, collecting donations from partners and the public, helping us gather far more bikes than we could manage alone.

We do this through strong partnerships nationwide. Many bike shops and garden centres act as permanent drop-off points on our behalf, giving the public a simple, local way to donate their bikes. Meanwhile, Rotary groups and other community organisations run pop-up collections across the country, rallying their networks to gather bikes that might otherwise sit unused or be scrapped.

Together, these partnerships keep perfectly usable bikes in circulation and out of landfill. By the end of 2025, we had 88 established drop-off points across the UK — a significant expansion that made donating easier and helped drive impact.

Some partners deliver donations directly to our Essex warehouse, while for others we arrange collections using our dedicated vans, ensuring the process works efficiently nationwide.

By the end of 2025, we had collected 37% more bikes in our vans than the previous year.

These UK efforts do more than move bikes from A to B. They reduce landfill waste, build skills and community, give volunteers purpose and lay the foundations for sustainable change thousands of miles away.

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OUR GROWING NETWORK

In 2025, 15,781 bikes poured in from across the UK thanks to an expanding family of drop-off points, corporate heroes and tireless community groups.

We now have 87 trusted drop-off locations across the UK, a huge leap forward! Supporters can donate bikes directly at our Wormingford warehouse near Colchester in Essex, or at one of these convenient local points. Nine new additions in 2025 made donating even easier and showed incredible local enthusiasm.

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Power2Cycle
NORWICH
Power2Cycle
HARLESTON
Paddox Cycles
RUGBY
Pedalz
BECCLES
Courtyard Stores
PEBMARSH
Hall Farm Cycles
TOPPESFIELD
Granite Unlimited
CLACTON-ON-SEA
Chelmer Cycles
CHELMSFORD
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It’s amazing to see so much local support such as shops, pubs and cycle specialists stepping up to help us rescue bikes and change lives. We’re continuing to grow this network — thank you to the teams behind every single new location!

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The White Hart Inn
BOXFORD
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CORPORATE & COMMUNITY CHAMPIONS

Our corporate partners and community groups go above and beyond.

GOTO EVENTS

GOTO Events continued to host corporate bike-build days where teams assembled brand new bikes specifically for Re-Cycle. In 2025, these events contributed 232 bikes to our collection.

CENTER PARCS

We’re thrilled to announce our new partnership with Center Parcs, launched in November 2025! They donate retired bikes from their holiday villages that would otherwise be discarded. We completed our first two collections from Elveden and Sherwood sites in late 2025, with over 1,000 bikes promised in the coming year.

HALFORDS

Halfords continued their support in 2025 as one of our key drop-off partners. Their nationwide network of stores made donating easy — people dropped off unwanted bikes at their local Halfords, knowing they would make a real difference.

Thanks to this collaboration and thousands of generous customers, 9,945 bikes were donated through Halfords stores and delivered directly to our Wormingford warehouse in 2025.

We are very grateful for Halfords’ partnership over the years and the impact they have helped us achieve. We continue to value our longstanding relationship with Halfords.

INDIVIDUALS 3,414

CORPORATE 10,874

COMMUNITY 1,493

ROTARY CLUBS

Rotary clubs across the UK once again showed their incredible dedication in 2025, with six different Rotary clubs stepping up to organise collections and drive meaningful impact. Their hard work brought in 678 bikes during the year, a massive achievement.

ELEANOR FOUNDATION

Our long-standing partnership with the Eleanor Foundation in Guernsey reached another milestone in 2025. They delivered three lorry loads — over 700 bikes (over 5,000 bikes in total since 2013!). Huge thanks to Eleanor Foundation for their commitment, and to Channel Seaways and Dave Bevis Haulage for safely transporting the bikes from Guernsey to our Essex warehouse.

THANK YOU, JACKIE

A special shout-out goes to Jackie from Rotary Club of Rayleigh Mill, who has been a champion for Re-Cycle since 2020. Jackie has delivered over 1,500 bikes to our Wormingford warehouse. On one visit, she even met our Zambian partner face-to-face, hearing stories of how her collections are changing lives thousands of miles away.

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UK VOLUNTEER NETWORK

“THE VARIETY OF THE VOLUNTEERS’ DIFFERENT LIFE EXPERIENCES IS STRIKING. WHEREVER THEY COME FROM AND WHATEVER THEIR BACK-STORY, EACH IS VALUED FOR WHO THEY ARE AND THE CONTRIBUTION THEY MAKE.

MY INVOLVEMENT THERE GIVES ME PURPOSE, TEACHES ME NEW SKILLS AND MAKES ME FEEL PART OF SOMETHING WORTHWHILE.”

Volunteers are at the heart of Re-Cycle. Their commitment and skills make it possible to process thousands of bicycles each year, keep operations running efficiently and deliver impact locally and internationally.

Alongside supporting the charity, volunteering also provides structure, purpose, and social connection — particularly during retirement, career transitions or times of change. Many describe their time at Re-Cycle as something they look forward to, reporting stronger community bonds, improved wellbeing and a sense of pride in contributing to a practical, ethical organisation.

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3,193 15,781
BIKES COLLECTED BIKES PROCESSED
10,037 593
BIKES PREPPED BIKES REPAIRED
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Volunteer Impact

Volunteers played a central role in all aspects of operations during the year. They collected 3,193 bicycles using ReCycle’s fleet of vans, travelling across the UK to retrieve donations from dropoff points, organisational partners and community collections.

They handled the intake and assessment of 15,781 bicycles received at the Wormingford warehouse, ensuring each donation was carefully evaluated.

They prepped 10,037 bikes and loaded them into 20 containers destined for Africa, packing bicycles alongside essential spare parts and tools to support partner refurbishment and long-term use. In addition, volunteers stripped hundreds of bicycles that had reached the end of their life, salvaging thousands of usable parts to be sent to Africa as spares, extending the impact of every donation.

Volunteers also helped in the workshop to refurbish over 600 bicycles for domestic sale, providing affordable, sustainable transport options within the UK while generating essential income to fund operations.

Re-Cycle recognised volunteer commitment with two annual gatherings: the Volunteers’ Summer BBQ in July and the Christmas Lunch in December. These events provided time to reflect on achievements, show appreciation, and strengthen team cohesion.

57% of Re-Cycle volunteers have been with the charity for more than five years

The charity also takes pride in the longevity of its volunteer community: 57% of volunteers have been with ReCycle for over five years, and 32% for more than ten years.

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SUPPORTING OUR LOCAL COMMUNITY

Re-Cycle’s impact starts in Essex — through skills development partnerships, affordable transport and practical community support.

For more than 15 years, Re-Cycle has been proud to work in partnership with Colchester Institute. Over the last academic year alone, 13 students completed work experience placements at the charity. During a recent four-week programme, students with additional learning support needs developed practical, hands-on skills within a real working environment. They gained experience in a range of operational tasks, including repositioning front wheels and handlebars to prepare bicycles efficiently for container loading.

For many students, the placement offers far more than technical skills — it builds confidence and independence.

“MY EXPERIENCE AT RE-CYCLE IS ONE I WILL ALWAYS BE GRATEFUL FOR.”

By creating structured, supportive placements, Re-Cycle helps local learners build employability skills while contributing meaningfully to the charity’s work.

INSPIRING YOUNG PEOPLE

Re-Cycle supports young people directly.

In September, Warehouse Manager Mark visited Bures Scout Group, close to Re-Cycle HQ, delivering a practical session on how to repair a puncture.

Teaching simple, essential maintenance skills empowers young people to look after their own bikes and builds confidence in practical problem-solving.

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Bikes for Sale

At the Wormingford warehouse, Re-Cycle’s refurbished bike sales provide affordable, reliable transport for local residents. Volunteers and qualified mechanics ensure each bike is carefully prepared, correctly sized and suitable for the customer’s needs.

Families often return as children grow, donating outgrown bikes and purchasing the next size up. This creates a practical and positive cycle of reuse within the community.

“THEY HAVE A VERY GOOD SELECTION AND THE BEST THING IS IT IS A GREAT CAUSE.”

Beyond sales, Re-Cycle runs regular Dr Bike sessions at the University of Essex, providing free safety checks, minor repairs, and adjustments for students and staff. In 2025, 313 bikes were repaired, helping riders commute safely and sustainably. During the university’s October Freshers’ Fair, Re-Cycle also sold 26 refurbished bikes directly to students and teachers, making affordable transport immediately accessible.

Local Engagement

The 2025 Re-Cycle Sportive, delivered in partnership with VCR Cycle Club Colchester, was the most successful yet with 126 riders taking part. With 65% completing the 64-mile route and 35% riding the 42-mile option, the event brought together local cyclists of all abilities. In a follow-up survey, 100% of respondents said they would recommend the event — a strong endorsement of both the experience and the community spirit behind it.

Re-Cycle continued to play an active role in local cycling initiatives. At the Saxtead Cycle Tour Hub during the Lloyds Tour of Britain Mens race on 2 September 2025, the team provided free bike MOT checks and collected donated bicycles, supporting participants while expanding the charity’s donation network.

In March 2025, Re-Cycle attended Colchester’s ‘Spring onto Your Bike’ event alongside other local cycling organisations, offering refurbished bikes for sale and encouraging more residents to get active.

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PARTNERS IN AFRICA

How We Deliver & Sustain Our Bikes

We don’t do it alone... and we wouldn’t want to. Real impact happens because of the trusted, grassroots partners we work with across Africa.

Our partners know their own communities inside out. They decide who receives bikes, how they’re distributed, and how to make the impact last. We trust them to get it right and make sure every bike goes where it will do the most good.

We stay closely connected through regular updates, reports, case studies and in-person visits. It keeps everything aligned and focused on long-term, ethical change — not quick fixes.

In 2025, all in-country projects across our seven partner countries were fully led by our local partners. From container arrival, to refurbishment by trained mechanics, to final handover.

We support sustainability by providing training for local mechanics. Our hands-on sessions teach essential skills like repairs, safety and maintenance. This enables our partners to refurbish bikes on arrival and keep them running reliably for many years, extending their life and value far beyond initial delivery. It also creates meaningful jobs and builds lasting skills within communities, which turns bike reuse into opportunities for employment, independence and self-reliance.

How Bikes Reach Communities

When bikes are sold, they provide people with reliable, low-cost mobility that would otherwise be out of reach. Crucially, the income from these sales stays with our partners and is reinvested into vital community development. It funds school supplies and meals, supports health initiatives like sanitary towel distribution, enables more training programmes, and expands outreach to vulnerable groups.

1 COMMUNITY PROJECTS

Our partners distribute bikes to those who need them most through initiatives such as school access, healthcare outreach and skills training. This provides immediate support for education, health and livelihoods, while encouraging long-term use and care.

This creates powerful knock-on effects: one bike doesn’t just move a person from place to place; it fuels better education for children, improved nutrition for families, stronger livelihoods and greater overall community resilience and self-reliance.

2 AFFORDABLE SALES

Our partners sell quality bikes at low prices through shops or social enterprises, making transport accessible and generating revenue reinvested into community development — extending the bike’s ripple effects.

All our African partners do invaluable, locally driven work. By trusting them to lead, and equipping them with the training to maintain bikes sustainably, we ensure every donated bike creates ripples of opportunity, empowerment and lasting change far beyond the first ride.

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THE RIPPLE EFFECT

CYCLE TO SCHOOL, THE GAMBIA

In September 2025, our long-standing partner Wonder Years Centre of Excellence (WYCE) delivered 70 bicycles to students at Bakalarr Upper Basic and Senior Secondary School in north Gambia.

Two stories highlight the impact. Seventeen-year-old Eggeh used to walk 8 km each way to school along dirt tracks — an exhausting and risky journey that left her tired and late. Her family worried about her safety especially when travelling in the dark. Now her bike shortens the trip dramatically, making it safer and quicker.

This was their biggest distribution yet, targeting those with the longest, toughest journeys.

Musa’s dad is no longer around, so he takes on extra responsibilities to support his mother and siblings. The 8km walk to school left him tired and short on time. Now, his bike cuts the journey significantly, meaning he can focus better in class and has more time to help his mum with chores and home duties.

The bikes cut travel time by up to 75%, making the ride faster, safer and more sustainable — especially for girls, improving their safety and keeping them in school. Students receive helmets, basic maintenance skills, and access to a trained local mechanic for affordable repairs. Teacher coordinators track safety, attendance and progress.

In The Gambia, over 600 bicycles have been distributed to students through the Cycle to School Project.

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EDUCATION

A bike is the spark — but the real magic happens in what follows.

FEEDING CHILDREN, MALAWI

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FUNDING SCHOOLS,
THE GAMBIA
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WYCE supports local schools through income generated from selling some of our donated bikes. The revenue funds essential projects: school meals, stationery, books and learning materials, and improvements to school centres.

Africycle sells some bikes locally, reinvesting the proceeds into vital community projects such as Muula Community Based Child Care Centre (CBCC). Africycle has backed Muula CBCC since around 2016, providing consistent early childhood education, nutrition and stability for local children. The income from bike sales helps sustain feeding programme, care, and learning for around 100 children.

SCHOOL DESKS, ZAMBIA

Care Provider Foundation (CPF) sells bikes locally and reinvests the funds into education infrastructure. In 2025, they provided 100 school desks (50 each) to two schools.

SUPPORTING TEACHERS, SIERRA LEONE

In 2025 we shipped 500 bikes to Sierra Leone to support their Schools For Salone project, delivering them to students and teachers in rural districts to improve attendance and academic performance. Aminata, a 25 year old maths teacher from Makali Village, used to spend an hour commuting each day between school and her farm. Her new bike shortens the trip to just 15 minutes which saves time and money, letting her stay longer at school, and helping her support her family more effectively.

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EDUCATION

SCHOOLS FOR SALONE PROJECT, SIERRA LEONE

Through our partnership with Schools for Salone and Village Bicycle Project, nearly 1,500 bikes have been delivered to students across Bo, Tonkolili, Koinadugu and Falaba districts in 2025. These bikes help students overcome long, challenging journeys to school, improving attendance, punctuality, and classroom engagement — particularly for girls, who benefit from safer, more reliable travel.

HEALTH & WELLBEING

Bikes make healthcare more reachable, while income from bike sales also funds essential health projects.

NURSE TRAINING, THE GAMBIA

MENSTRUAL HEALTH SUPPORT, ZAMBIA

CPF reinvests income from local bike sales into a long-running menstrual health project across six schools in 2025. They distributed 4,900 packets of sanitary towels each term — providing each girl with a threemonth supply. This steady support means girls no longer miss lessons due to a lack of basic hygiene products, helping them stay in school, participate fully and build confidence during their periods.

WYCE channels income from bike sales into nurse training, healthcare delivery and community health education. One inspiring story is Aminata Saidy from Madina Salam. Unable to afford her medical foundation training fees, Aminata received WYCE sponsorship — including a laptop to aid her studies. She has now started her first practical placement at Brikama Major Hospital, taking a vital step toward becoming a nurse and giving back to her community.

BOREHOLE REHABILITATION, ZAMBIA

Using funds from bike sales, CPF rehabilitated five boreholes in 2025, restoring clean drinking water in remote communities. These repairs reduce reliance on unsafe sources, cut the risk of waterborne illnesses, and improve health for entire villages — a simple, life-changing intervention that benefits families, children, and schools alike.

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GIRLS LEARNING TO RIDE, GHANA

In many Ghanaian communities, long distances to school mean girls wake before dawn to begin exhausting and often unsafe walks. Arriving late, tired or missing school altogether affects attendance, concentration and long-term opportunity. These daily journeys also reinforce traditional gender norms that restrict girls’ mobility and independence.

In 2025, Re-Cycle’s partner, Village Bicycle Project, trained 415 girls and women through its Learn-to-Ride project. Participants developed practical cycling skills, road awareness, and essential safety knowledge, building both competence and confidence. With access to bicycles as a reliable mode of transport, girls are no longer dependent on others to reach school or community activities.

The impact extends well beyond transport. Girls now arrive at school on time, more alert and ready to learn. Attendance has improved significantly, with absenteeism reduced by 28%

among girls with bikes — equating to approximately five additional school days per year. Punctuality has also improved dramatically, with late arrivals reduced by 66%.

Crucially, the project enhances safety awareness and builds cycling confidence, contributing to greater independence and freedom of movement for women and girls. In communities where cycling has traditionally been seen as “for boys,” seeing girls ride confidently challenges long-standing norms and shifts perceptions. Increased mobility restores dignity, strengthens self-belief, and creates tangible pathways to continued education and opportunity.

Through skills training and access to bicycles, 2025 marked another year of meaningful progress towards gender equity — not just helping girls reach school, but empowering them to move through their communities with confidence and control over their futures.

“BEFORE THE PROJECT, MANY GIRLS STRUGGLED TO REACH SCHOOL ON TIME. NOW, THEY ARRIVE EARLY, FOCUSED, AND READY TO LEARN.”

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- Head teacher at a participating school
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LIVELIHOODS

Income from a bike lifts families out of poverty cycles enabling better homes and educated futures. Communities become self-sustaining.

BICYCLE EMPOWERMENT CENTRES, SOUTH AFRICA Our partner Bicycling Empowerment Network (BEN) runs Bicycle Empowerment Centres, small entrepreneur-led shops that distribute affordable bikes and provide repairs. These centres support local owners while expanding access to transport. Deon, one of BEN’s Bicycle Empowerment Centres in Cape Town, buys bikes from BEN and sells them from his shop — generating steady income and promoting eco-friendly tourism in his area. A single Bicycle Empowerment Centres can transform a community by creating jobs and supporting local mobility.

EMPOWERING MECHANICS, THE GAMBIA

Mechanics trained by WYCE are now running independent workshops, employing others, and expanding services — extending the benefits of Re-Cycle bikes. Soul, who started and trained at WYCE’s bicycle workshop, has been supported by WYCE to launch his own workshop. He now generates income for his family and trains more mechanics, creating a ripple of skills and self-reliance within his community.

UMAR’S BICYCLE SHOP, SIERRA LEONE

Bicycles are sold affordably to trained local mechanics, who earn through refurbishment, sales, and repairs — with proceeds reinvested in community initiatives. Umar runs a thriving shop in Kabala that has become a vital community hub. Starting with just seven bikes, his stock has grown to around 80. Cycling helped Umar overcome tough circumstances in Sierra Leone and find his path forward; now he’s determined to create the same opportunities for others through repairs, sales, and inspiration.

MICROLOAN INITIATIVE, MALAWI Africycle’s microloan scheme lets lowincome families buy bikes and repay over 4–5 months. Households save on transport costs and reinvest savings in education, farming, or better living standards. By making bikes affordable, the programme empowers households to reduce expenses and build economic growth — turning a bike into a tool for long-term family stability and progress.

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NEW 2025 PARTNERSHIP: NIGERIA

The Need

Nigeria is facing significant economic challenges. Many people, especially in rural areas, have limited access to affordable and reliable transport. This makes it difficult for children to attend school regularly, worsening educational inequalities.

A Sustainable Solution

In response, Re-Cycle is partnering with the start-up GRAEF (Gabriel Rotimi Aroge Empowerment Foundation) to provide an alternative, sustainable transport option. In August 2025, we loaded and shipped our first container of 500 bikes to support Cycle-2-School+, supplying teenagers aged 13–19 in the Lagos area. The bikes come with road safety guidance from GRAEF to help students ride safely and confidently. A second container is planned for 2026, and ongoing reporting and monitoring will help evaluate the project and measure its success.

Supporting the Start-up

During an October visit, we met school leaders, local officials, and road safety advocates, visiting pilot sites and learning

more about how the project can meet local needs. This allowed us to tailor future shipments to best support GRAEF and the communities they serve, helping the project grow effectively from the start.

foundation for broader educational and social benefits.

Why It Matters

By supporting GRAEF with resources, guidance, and bike shipments, we are helping a new initiative take root, ensuring it can reach more young people and deliver sustainable, community-led impact.

Early Impact

Even at this early stage, the project is creating opportunities for regular school attendance and safer journeys, laying the

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BUILDING LASTING CHANGE

Our in-person visits throughout 2025 enabled us to train mechanics, share expertise, assess needs firsthand, and strengthen trust with partners.

Seeing bikes in action turns donations into sustainable systems — creating skills, jobs, and independence that last.

APRIL | SIERRA LEONE

JULY | MALAWI

NOVEMBER | THE GAMBIA

Village Bicycle Project train local mechanics to repair and maintain bikes. Then they are supported, alongside another local charity Reseed, to set up their own bike shops. This approach spreads affordable bikes and valuable skills, creating sustainable income opportunities while building a stronger cycling culture in their communities.

During the visit, Re-Cycle helped train more mechanics and supported the Tour de Lunsar event, strengthening local skills and capacity.

Africycle runs microloan projects that help more people access affordable bikes. Mechanics are trained to refurbish bikes independently, generating income and ensuring bikes remain roadworthy.

Visiting the project allowed us to see first-hand which bikes best suited their communities, helping us tailor future donations. We also met women running microloan projects and students whose journeys to school are shortened, giving families time and resources for education and daily life.

WYCE supports local schools and healthcare through bike projects. Sales from refurbished bikes feed directly into community initiatives, helping entire villages. In 2025, at Bakalarr Upper Basic School, Cycle-to-School bikes cut long, unsafe walks, improving attendance, energy and wellbeing.

We supported the team by training mechanics and helping develop office staff, expanding their capabilities to reach more rural communities and sustain impact locally.

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A CIRCULAR ECONOMY

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Re-Cycle operates a circular economy model for bicycles, where every donated bike is given the longest possible life through deliberate reuse, repair and reinvestment. This creates a self-sustaining loop that minimises waste and maximises impact.

This closed-loop approach ensures zero bikes go to landfill, while extending product lifecycles for decades through ongoing reuse, repair and local refurbishment. Every donation multiplies value — encouraging sustainable cycling in the UK, creating jobs and skills in Africa, and delivering lasting environmental and social benefits across both regions.

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We don’t just send bikes overseas... we deliver a sustainable, long-term solution by ensuring they remain in use for many years through local ownership and expertise.

Our partners in Africa receive the bikes along with spare parts and tools shipped in every container, enabling them to carry out repairs and maintenance effectively from the moment of arrival. Trained local mechanics, supported by Re-Cycle’s regular hands-on training visits, refurbish each bike, performing repairs, adjustments and customisations suited to local terrain and needs.

Bikes that would typically be discarded in the UK still have plenty of useful life left in Africa, where skilled maintenance extends their service for years. Partners keep them roadworthy through ongoing repairs, using the supplied parts and tools to maximise every donated bike’s impact for education, healthcare, livelihoods and mobility.

This approach transforms a donation into a durable, communityowned resource — building lasting skills, creating employment and reducing waste.

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CONTENTS

OUR TEAM & GOVERNANCE

Re-Cycle is a values-driven organisation, with a team focused on both operational delivery and making a tangible difference in communities. Staff see their work as multi-layered, from collecting, refurbishing and distributing bicycles to supporting education, mobility and sustainability. Every task plays a part in creating a broader impact.

Training and development are central to how we work. In 2025 Marc, our workshop mechanic, completed his apprenticeship with distinction and is now fully qualified to service and repair bicycles, supporting both UK sales and international mechanic training. Georgia, our Marketing and Fundraising Manager, completed the Certificate in Fundraising with distinction, strengthening the charity’s capacity to grow income and secure new funding.

We were also delighted to see our Director, Charlotte Ward, included in Cycling UK’s 100 Women in Cycling 2025 — a celebration of extraordinary women who inspire, encourage and empower others to experience the joy of cycling. It’s great for Charlotte to be recognised in this network and to be part of a community championing women’s cycling across the UK.

Our volunteers are also a vital part of the team. With 38 regular volunteers supporting dayto-day operations, Re-Cycle relies on their time, skills, and commitment to make our work possible.

Trustees

In October 2025, Re-Cycle welcomed four new trustees to the Board, bringing fresh perspectives and expertise in public relations, governance, and strategic development. With these additions, the Board now totals seven members, fostering more diverse, productive discussions and forward-thinking leadership.

ALLAN RAMSAY

BEN HOLLINS

With over 30 years in financial services, Allan has extensive experience in risk, corporate finance, and leadership. A passionate cyclist and advocate for sustainability, he was drawn to Re-Cycle’s impact across Africa and looks forward to supporting the charity’s next stage of growth.

An experienced business leader, Ben brings a track record of growing businesses and a passion for Africa and cycling. He aims to strengthen governance, support strategic growth, and unlock new funding and partnership opportunities to amplify ReCycle’s impact.

DOM WRIGHT

DAVID TRIGGS

Having followed Re-Cycle for several years, and with family ties in Malawi, Dom is committed to promoting cycling as a tool for education, work, and community development. Inspired by the independence cycling gives, he brings enthusiasm for enhancing mobility and transforming lives through bicycles.

A long-time supporter of Re-Cycle, David has been involved in cycling since his teenage years and has coached youth riders with Colchester Rovers Cycling Club. At Re-Cycle he hopes to strengthen links with local cycling groups. With a background as a Company Secretary in the health sector, he also contributes valuable governance experience.

“THE OPPORTUNITY TO MAKE A REAL DIFFERENCE TO LIVES IN THIS SPECIAL CONTINENT IS SOMETHING THAT I AM REALLY PASSIONATE ABOUT.”

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FUNDING OUR MISSION

Re-Cycle receives no government funding — everything we achieve comes from the generosity of individuals, communities, trusts, foundations, and our own earned income.

Trusts & Foundations

A huge thank you to the many trusts and foundations that supported us in 2025. We are proud to work in partnership with a wide range of funders, with over 50 grants awarded to Re-Cycle this year.

Grants made up over 50% of our income, ranging from £200 to £40,000.

Every grant — no matter the size — helped us deliver more bikes, cover shipping costs, provide tools and parts, and expand our work with partners. We are incredibly grateful to all the trusts that support us and for the care and commitment shown by their trustees in directing funds where they are most needed. Their trust in Re-Cycle means we can keep focusing on impact.

Corporate Gifts

In 2025 we were fortunate to receive generous support from corporate partners, including several B Corp businesses whose commitment to sustainability and ethical practices aligns closely with our own values.

Fundraising

Our fundraising in 2025 was made possible by the incredible generosity of individuals, community groups, events, and corporate supporters.

Bike Sales

The highlight of the year was our 2025 Sportive in May. A brilliant day where riders tackled 42 and 64 mile routes, raising funds while bringing the local cycling community together.

Our Wormingford warehouse is open weekdays selling refurbished second-hand bikes at affordable prices. Qualified mechanics help customers find the perfect fit, size, and style — making cycling accessible locally.

DIY fundraising proved especially strong in 2025, with people organising sponsored challenges, such as runs and rides, in their own ways — each effort helping to support our work.

In 2025 we sold 608 bikes, bringing in over £95,000 — vital funds that help cover our operations and support our monitoring and training in Africa.

The Big Give Christmas Challenge in December stood out as a big success, raising around £13,380. Even more encouraging, approximately 50% of donors were new to Re-Cycle. This is a fantastic result that builds fresh momentum and opens exciting opportunities to grow long-term support in the years ahead.

We also run occasional weekend sales events, like our Spring Bike Sale, which brought in a record of over £5,000 in one day — a brilliant boost thanks to local support.

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SUPPORTING PARTNERS

Our work relies on more than just bikes.

We’re grateful to businesses that generously donate essential cycling goods, safety items, clothing, accessories, and maintenance products in 2025. These gifts help our African partners keep bikes running longer, improve rider safety, and strengthen community projects. Here are some of the standout supporters in 2025.

RAPHA

Rapha once again supported us in 2025 by donating high-quality cycling clothing, accessories, and a large number of helmets. These items were packed and shipped to our partners in rural Africa, where they are now supporting projects like Cycle to School and community cycling rides.

The helmets in particular provide vital safety for children and adults using bikes for daily journeys — often over long, unpaved roads. Huge thanks to Rapha and to Team Africa Rising for helping coordinate this project and ensuring the gear reaches those who need it most.

WELDTITE

For 15 years, Weldtite has proudly supplied a range of high-quality maintenance products, tools, and lubricants to help our African partners assemble bikes on arrival and keep them running reliably for years.

In 2025, we strengthened this long-standing partnership with a personal visit. The Weldtite team came to our Wormingford warehouse with a van full of donated products, saw our process firsthand, and learned more about how their items are used.

Later in November, we were able to show them the real impact — mechanics in Africa using Weldtite tools and products to maintain bikes in rural communities.

These non-financial donations complement our bike shipments by enhancing safety, durability, and comfort. Helmets protect riders, maintenance products keep bikes roadworthy, bottles support hydration on long trips, and clothing makes cycling more practical and dignified.

WILDOO

Wildoo generously donated over 500 reusable water bottles and cycling accessories in 2025 — items that were surplus stock or misprints sitting in their warehouse and would otherwise have gone unused.

Together, they help our partners create stronger, more sustainable community projects.

A huge thank you to Weldtite, Rapha, Wildoo, and all the businesses that support us in these vital ways — your generosity extends the reach and impact of every bike we send.

These bottles are especially valuable in rural African communities, where clean water access can be limited and long bike journeys are common.

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CONTENTS

LOOKING FORWARD

Our plan for 2026

Our mission for 2026 remains focused on ‘Improving lives through bicycle reuse’ and we will be ensuring this flows through everything we do as we enter the fourth year of our five year strategic growth plan. We will be shifting towards deeper impact and long-term sustainability both in the UK and Africa.

In 2026, we will build on our recent growth by shifting focus from increasing volume to delivering deeper, more sustainable impact. The strategy centres on embedding bicycles within local systems that improve access to education, healthcare, and livelihoods across Africa.

clubs, universities and garden centres. We will also be building our corporate support in the UK to enable us to grow our financial support.

2026 is a transition year, positioning Re-Cycle for long-term, systems-level impact. We will begin to position ourselves so that we can move beyond distribution to become a leader in sustainable mobility and circular economy solutions.

We will continue to build new bike partnerships across the UK to increase our bike donations through corporate support, shops and community initiatives, including Rotary

Thank You from Hannah Perrins-Hill Chair of Trustees

On behalf of the entire Board of Trustees, I would like to extend my heartfelt thanks to every supporter, partner, and volunteer, for another fantastic year. Your generosity, your belief in our mission, and your unwavering commitment have made a profound difference. None of the achievements highlighted in this impact report would have been possible without you.

Whether you gave your time, your donations, your expertise, or your voice, you can see in this report how you helped us fulfil our mission and extend our reach further than ever before. You have enabled us to adapt, innovate, and strengthen, during a time of growing demand but also one of, at times, uncertainty and challenge given the geopolitical landscape and economic pressures.

As trustees, we are deeply proud of our fantastic team and the progress that continues to be made, with tangible, meaningful impact, and deeply grateful to everyone who made it possible. Thank you; we look forward to building an even greater impact together in the year ahead.

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ONTENTS

ANNUAL REPORT & ACCOUNTS

Charity & Company Information

Trustees Hannah Perrins-Hill Allan Ramsay (appointed 11 September 2025) Omolade Adeyeye Raymond Ricks Dominic Wright (appointed 11 September 2025) David Triggs (appointed 11 September 2025) Ben Hollins (appointed 11 September 2025)

Company Secretary Steve Brown Director Charlotte Ward Company number 03337853 Charity number 1063570 Registered office Unit 8 The Grove Estate Colchester Road Wormingford Colchester Essex CO6 3AJ

Bankers CAF Bank (UK) Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ

Triodos Bank Deanery Road Bristol BS1 5AS

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Trustees’ report for the year ended 31 December 2025

Trustees Report

The trustees are pleased to present their report together with the financial statements of the charity for the year to 31 December 2025.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and 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).

Structure, Governance and Management

Governing Document

Re-Cycle is a charitable company limited by guarantee, incorporated on 21 March 1997 in England and Wales and registered as a charity on 24 July 1997. The company is governed by its Memorandum and Articles of Association dated 4 March 1997 as amended by special resolution dated 18 March 2004.

The charitable company has a governance structure based on five operational tiers:

  1. The first tier are the members who vote at the AGM for the directors/trustees to run the organisation. They are not involved on a regular basis, other than as ‘advocates’.

  2. The second tier is the Board of Trustees (who are also the directors for the purposes of company law), who have overall responsibility for and control of the charity/company and meet at regular intervals to discuss the performance to date and future plans. They are responsible for strategic direction and ensure that money is spent in accordance with the charity’s objectives in its constitution.

  3. The third tier is the day-to-day Re-Cycle operations with a team of 8 staff. Operational responsibility is overseen by the Director.

  4. The fourth (vital) tier is the volunteers and groups around the country who are involved in the collection, preparation, refurbishment and loading of bicycles.

  5. The fifth tier is our African partner organisations, who refurbish and distribute Re-Cycle bikes.

Directors

The Board of Directors of the charitable company are its trustees for the purpose of charity law. Throughout this report they are collectively referred to as the trustees.

The following individuals served as trustees during the period and subsequently:

All trustees served for the full year unless otherwise stated above.

All the trustees resign at each AGM and are eligible for re-election by the members.

The trustees meet at least quarterly, with the Director, to review the activities and direction of the charity, and make medium-to long-term decisions. The day to day running of the charity is delegated to the Director who manages the staff team and reports directly to the trustees.

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Trustees’ report for the year ended 31 December 2025

Risk Management

As with any organisation, Re-Cycle’s work involves some risk. It is the trustees’ responsibility to ensure that these risks are managed, minimised and mitigated. To achieve this, the trustees have worked to identify and review the major strategic, business and operational risks that the charity faces. These are assessed against their possible likelihood of occurring and their possible impact on the organisation.

The major risks have been identified as:

Our finances:

Re-Cycle grew significantly in past years, and then due to financial difficulties faced at the end of 2018, the charity underwent a major re-structure in 2019. Growth and fluctuations carry significant risks especially in uncertain financial times and to manage this, the charity uses a charity-specialist accounting firm to manage the finance function, and support fundraising and operational personnel in the day to day running of the organisation.

Our partners:

Re-Cycle works at a grassroots level, at a geographic distance, often with community organisations that may have a weak organisational capacity. Being aware of this, we have been addressing this aspect for a few years now and are making progress in developing better relationships and supporting our partners to advance.

Given the nature of Re-Cycle’s work, the trustees recognise that some areas of our work require the acceptance and management of risk if our key objectives are to be achieved. The trustees have adopted, or are working to adopt, policies and frameworks to mitigate these risks. These include:

Public Benefit

The trustees confirm that they have complied with their duty under Section 4 of the Charities Act 2011 to have due regard to the Charity Commission’s general guidance on public benefit.

Re-Cycle carries out a range of activities in furtherance of its charitable objectives, as detailed under activities and achievements below, which the trustees believe provide benefit to:

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Trustees’ report for the year ended 31 December 2025

Strategic Purpose and Principal Activities

Our Vision: Africa unlimited by Transport

Re-Cycle envisions a future where every person in Africa has access to quality, affordable, sustainable transport.

Our Mission: Improving lives through bicycle re-use

Our Values:

  1. Environment – preventing unwanted bikes from going to landfill

  2. Integrity – honesty, openness and transparency in all we do

  3. Impact – by making a difference, locally and internationally

  4. Community – working as a team and sharing experiences

  5. Inclusiveness – by offering opportunities for all

  6. Sustainability – by sending a quality product to Africa

  7. Empowerment – we empower people to gain access to education and employment

Key achievements:

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Trustees’ report for the year ended 31 December 2025

Priorities for 2026:

Financial review

The charity continues on a path of steady income growth in 2025 while implementing plans to expand the capacity of the organisation in line with the priorities outlined in 2024.

Total income of £389k (2024, £370k), meant a 5% (£18k) increase in income over the prior year. Beneath the headline level of income, donation income decreased by 3% (£1k), grant income increased by 18% (£29k) and earned income decreased by 5% (£8k) due to a reduction in numbers of donated bikes. In terms of the mix of income, donations made up 10% (2024, 11%), grants 51% (2024, 45%) and earned income 38% (2024, 42%) of total income.

Overall expenditure increased by 15% (£57k) to £433k (2024, £375k). The growth in expenditure is partly due the costs associated with sourcing and collecting donated bikes as number of bikes received via the Halfords Partnership reduced, and partly due to partnership development costs, including those related to the development of our new partnership with the GRA Empowerment Foundation in Nigeria. These changes resulted in an increase in direct charitable activity in 2025 to £350k (2024, £269k) which represented 81% of total expenditure. Fundraising costs decreased by 23% to £82k (2024, £107k).

As a result, the charity ended the year with a net deficit of £44k (net deficit 2024, £5k). We used £5k of restricted funds to support our African Partner Projects, and £45k of restricted funds building our operational capacity in the UK leaving unrestricted reserves of £245k (2024, £309k). The trustees are confident that with the continued stability shown in 2025, that the charity can continue operating beyond the next 12 months.

Reserves

Re-Cycle maintains reserves to protect the charity from short term fluctuations in income, and to provide working capital both for its project activities (many of which are funded in arrears either by grants from donors or reimbursement from partners) and to invest in its growth strategy.

The policy was reviewed in 2026. The revised policy is to hold reserves equal to 4 - 6 months of expenditure on the core costs of running the charity and the cost of reimbursable project / partner expenses. The trustees believe this is prudent given;

The charity ended the year with unrestricted reserves of £245k, which represents more than 6 months of

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CONTENTS

Trustees’ report for the year ended 31 December 2025

expenditure. The trustees consider this to be in line with policy.

Responsibilities of the trustees in relation to the financial statements

The trustees (who are also directors of Re-Cycle 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, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the year. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the Board of Trustees and signed on their behalf by:

Hannah Perrins-Hill Chair

Date: 8th July 2026

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Independent Examination Report and Statement

Independent Examination Report and Statement

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2025.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner’s statement

Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Narges Cyroos BSc FCA Sterling Partners Limited Chartered Accountants 2nd Floor, Grove House 774-780 Wilmslow Road Manchester M20 2DR

Date: 9 July 2026

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Statement of Financial Activities (incorporating the Income and Expenditure Account) for the year to 31 December 2025

Statement of Financial Activities

Unrestricted Restricted Total Unrestricted Restricted Total
Funds Funds Funds Funds Funds Funds
2025 2025 2025 2024 2024 2024
Note £ £ £ £ £ £
INCOMING RESOURCES
Incoming resources from generated funds:
Voluntary income: - - - - - -
Donations 40,125 - 40,125 41,550 - 41,550
Incoming resources from charitable activities:
Grants for project activities 2 127,950 69,010 196,960 167,518 - 167,518
Fees from bike sales & repairs 147,395 - 147,395 155,663 - 155,663
Investment income 4,109 - 4,109 5,453 - 5,453
Other income - - - - - -
Total incoming resources 319,579 69,010 388,589 370,184 - 370,184
RESOURCES EXPENDED
Charitable activities 3 300,839 49,501 350,340 252,142 16,640 268,782
Fundraising 4 82,335 - 82,335 106,543 - 106,543
Total resources expended 383,174 49,501 432,675 358,685 16,640 375,325
Net income / (expenditure) in year 7 (63,595) 19,509 (44,086) 11,499 (16,640) (5,141)
Total funds brought forward 308,929 - 308,929 297,430 16,640 314,070
Total funds carried forward 11 245,334 19,509 264,843 308,929 - 308,929

8

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CONTENTS

Balance Sheet as at 31 December 2025

Balance Sheet

Note
FIXED ASSETS
Tangible Assets
8
CURRENT ASSETS
Debtors
9
Cash at bank and in hand
CREDITORS: Amounts falling due within one year
10
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CAPITAL AND RESERVES
Restricted Funds
Unrestricted Funds
11,12		 2025
£
32,450
24,644
233,076
257,720
(25,327)
232,393
264,843
19,509
245,334
264,843		 2024
£
25,809
15,115
285,662
300,777
(17,657)
283,120
308,929
-
308,929
308,929

The Trustees are satisfied that the company is entitled to exemption from the provisions of the Companies Act 2006 (the Act) relating to the audit of the financial statements for the year by virtue of section 477, and that no member or members have requested an audit pursuant to section 476 of the Act.

The Trustees acknowledge their responsibilities for:

Approved by the Board of Trustees and signed on their behalf by:

Hannah Perrins-Hill Chair

Date: 8th July 2026

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Statement of Cash Flows for the year to 31 December 2025

Cashflow Statement

Cashfow Statement
Note
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash provided by (used in ) operating activities
15
CASH FLOWS FROM INVESTING ACTIVITIES:
Interest income
Purchase of tangible fixed assets
Net cash provided by (used in ) investing activities
Increase (decrease) in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the reporting period
Cash and cash equivalents at the end of the reporting period		 2025
£
(30,421)
4,109
(26,274)
(22,165)
(52,586)
285,662
233,076		 2024
£
(8,576)
5,453
(31,625)
(26,172)
(34,748)
320,410
285,662

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CONTENTS

Notes to the accounts for the year ended 31 December 2025

Notes to the Accounts

1

Principal accounting policies

The principal accounting policies adopted in the preparation of the financial statements are set out below.

(a) Basis of accounting

The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

(b) Going Concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

(c) Fund accounting

(d) Incoming resources

All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income.

(e) Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred, and includes any VAT which cannot be fully recovered.

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Notes to the accounts for the year ended 31 December 2025

(f) Tangible fixed assets and depreciation

Tangible fixed assets costing over £500 (including any incidental expenses of acquisition) are capitalised. Depreciation is provided at rates calculated to write off the cost on a straight line basis over their expected useful economic life. The rate of depreciation is 331/3 % per annum for all assets.

(g) Debtors

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

(h) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount.

2 Grants for project activities

Grants over £5 000
The Alborada Trust
The Brain Mercer Trust
Rita & David Slowe Charitable Trust
The Roger Raymond Charitable Trust
Scott (Eredine) Charitable Trust
The Coles-Medlock Foundation
The Cauda Trust
The Orp Foundation
Michael Cornish Charitable Trust
Lady Yuen Peng McNeice Charitable Foundation
Ashworth Charitable Trust
The Britford Bridge Charitable Trust
W F Southall Trust
The Kajatawa Foundation
Merriman Charitable Foundation
The G C Gibson Charitable trust
Grants under £5,000
Total Grants for project activities		 Total
2025
Total
2024
£
£
40,000
-
31,510
10,000
15,000
-
15,000
30,000
6,000
-
-
15,000
-
15,000
-
10,000
5,000
-
5,000
-
-
5,000
-
5,000
5,000
5,000
5,000
-
5,000
-
5,000
-
137,510
95,000
59,450
72,518
196,960
167,518

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CONTENTS

Notes to the accounts for the year ended 31 December 2025

3 Charitable activities

Staff costs
Bike handling expenses
Africa Programming Spend
Premises
Volunteers expenses
Freelance staff and consultants
Other direct costs
Support costs
Fundraising
Staff costs
PR and advertising
Support costs
Staff costs
Salary Costs
Gross wages and salaries
Employer's national insurance
Pension cost
The average staff headcount during the year was		 Total
2025
Total
2024
£
£
125,984
107,767
25,609
21,240
21,854
10,973
25,079
29,387
6,442
5,677
13,335
-
5,148
8,039
126,888
85,698
350,340
268,782
2025
2024
£
£
35,238
53,087
10,843
10,607
36,254
42,849
82,335
106,543
2025
2024
£
£
226,445
206,968
15,838
13,938
10,757
9,811
253,040
230,716
8
6

4 Fundraising

5 Staff costs

No member of staff received emoluments, excluding Employer NI and pension, of more than £60,000 during the year (2024: None).

The key management personnel of the charity, comprise of the trustees and the Director. The total employee benefits of the key management personnel of the charity were £64,103 (2024: £60,081), including Employer NI and pension.

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Notes to the accounts for the year ended 31 December 2025

Staff costs have been analysed as:
Direct charitable expenditure
Fundraising
Support		 2025
2024
£
£
125,984
107,767
35,238
53,087
91,818
69,862
253,040
230,716

6 Support Costs

Support costs are those that are incurred by the charity in support of, but cannot be directly attributed to, its main activities. Re-Cycle remains a small charity with minimal overheads and as such the support costs consist of only two broad elements; general office costs, and management staff time that cannot be directly attributed to direct charitable activities, fundraising or governance. These then have been allocated to activities on a basis consistent with the use of resources.

Support costs are detailed below:
Premises
Staff salaries
IT and website
Independent Examination
Other		 2025
2024
£
£
14,107
12,594
91,818
69,862
12,068
12,389
1,622
1,575
43,527
32,127
163,142
128,547
Support costs have been further analysed as:
Direct charitable expenditure
Fundraising		 Governance
Function
£
15,537
-		 General
Support
£
111,351
36,254
147,605		 Total
2025
Total
2024
£
£
126,888
85,698
36,254
42,849
163,142
128,547
15,537

7 Net income (expenditure) for the year

This is stated after charging:
Depreciation		 2025
2024
£
£
19,633
6,802

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Notes to the accounts for the year ended 31 December 2025

8 Fixed assets

Cost
At 1 January 2025
Additions in year
At 31 December 2025
Depreciation
At 1 January 2025
Charge for the period
At 31 December 2025
Net Book Value
At 31 December 2025
At 31 December 2024		 Computers
& Office
Equipment
£
28,742
772		 Warehouse
equipment
£
65,517
-		 Vehicles
£
17,095
25,502		 TOTAL
£
111,354
26,274
29,514 65,517 42,597 137,628
28,409
590		 40,041
10,542		 17,095
8,501		 85,545
19,633
29,000 50,583 25,595 105,178
514 14,934 17,002 32,450
333 25,476 - 25,809

9 Debtors: amounts falling due within one year

Trade debtors
Prepayments, accrued income & other debtors
VAT Debtor
Trade Creditors
Accruals & other creditors
reditors:amounts falling due within one year		 2025
2024
£
£
6,778
3,380
10,486
9,485
7,380
2,250
24,644
15,115
2025
2024
£
£
7,912
7,487
17,415
10,170
25,327
17,657

10 Creditors: amounts falling due within one year

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Notes to the accounts for the year ended 31 December 2025

11 Movements in funds

Movements in funds
At 31
At 1 January Incoming Outgoing Transfers December
2025 Resources Resources in / (out) 2025
£ £ £ £ £
Restricted Funds:
African Partner Projects - 5,000 (5,000) - -
Fixed Assets 25,502 (25,502) - -
HQ Running Costs 38,508 (18,999) - 19,509
Total restricted funds - 69,010 (49,501) - 19,509
Total unrestricted funds 308,929 319,579 (383,174) - 245,334
TOTAL FUNDS 308,929 388,589 (432,675) - 264,843
African Partner Projects Part of Re-Cycle's work is aimed at supporting our African partners to enable
them to process the bikes they receive into usable bikes for end users, either
through funding shipments of bikes or building capacity.
At 31
At 1 January Incoming Outgoing Transfers December
2024 Resources Resources in / (out) 2024
£ £ £ £ £
Restricted Funds:
African Partner Projects 16,640 - (16,640) - -
Fixed Assets - - - -
HQ Running Costs - - - -
Total restricted funds 16,640 - (16,640) - -
Total unrestricted funds 297,430 370,184 (358,685) - 308,929
TOTAL FUNDS 314,070 370,184 (375,325) - 308,929

12 Analysis of net assets between funds

Fixed Assets
Current assets
Current liabilities
Net assets at 31 December 2025		 Restricted
Funds
Total
funds
£
£
£
32,450
-
32,450
238,211
19,509
257,720
(25,327)
-
(25,327)
245,334
19,509
264,843
Unrestricted
Funds

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Notes to the accounts for the year ended 31 December 2025

13 Related parties

Re-Cycle is controlled by its Board of Trustees. No Trustees received any remuneration for their services to the Charity as trustees, and £0 (2024: £6) was claimed in expenses during the year.

During the year Re-Cycle received £nil (2024: £nil) in donations from trustees.

14 Capital

The company is limited by guarantee and has no share capital. There are currently 5 members of the company and each member has undertaken to contribute up to £10 in the event of the company being wound up.

15 Reconciliation of net movement in funds to net cash flow from operating activities

Net movement in funds
Add back depreciation charge
Deduct interest Income shown in investing activities
Decrease in debtors
Increase in creditors
Net cash used in operating activities		 2025
2024
£
£
(44,086)
(5,141)
19,633
6,802
(4,109)
(5,453)
(9,529)
(4,535)
7,670
(249)
(30,421)
(8,576)

16 Operating lease

A six year office lease was signed on 1st September 2020 running until August 2026.

Less than one year
Between two and five years		 2025
2024
£
£
18,667
28,000
18,667
18,667
46,667

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01206 617 865 | re-cycle.org

Unit 8 The Grove Estate, Wormingford, Colchester, Essex CO6 3AJ Registered Charity No: 1063570

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