The Cycle (INGO) Limited
Annual Report and accounts for the period ending
March 31[st] , 2025
The Cycle (INGO) Limited is a company limited by guarantee Charity Number 1070826 Company Number 03532799
Report of the Board of Trustees
The Board of Trustees is pleased to present its report and financial statements for the period ended March 31[st] , 2025. These have been prepared in accordance with the Companies Act 2006, the charitable company’s Memorandum and Articles of Association and the Statement of Recommended Practice FRS102. The Cycle (INGO) Limited is a registered Charity and also a company limited by guarantee. It is governed by its Memorandum and Articles of Association and the Companies Act 2006. Its company registration number is 03532799 and its charity number is 1070826.
It is to be noted that the previous year was a fourteen-month accounting period as we changed the end of year tax date.
The Trustees would also like to have noted that because of funds raised by The Cycle (INGO) Limited in the UK and transferred to our sister company in India, Sanitation First India, it was enabled to separately raise approximately £440,000 in India during the corresponding period. Although the combined total of £861,782 (circa $1,160,000 ) cannot officially be included within our accounts, per se, it is reflective of our greater global fundraising capacity.
Revenue Summary
2024/25 £421,782 2023/24 £467,086
If we were to compare this year’s income with the last tax year on a pro rata basis, then 2023/24 would have seen an income of £400,359. This means that we have increased our income by a further 5% over the previous year. We continue to build a strong, younger team who are opening new fundraising channels that will bear fruit in the years to come.
The trustees are extremely pleased at the progress being made and can report that The Cycle (INGO) Limited is in a fit and healthy financial position.
Funds held as custodian trustee on behalf of others
As of March 31[st] , 2024, The Cycle (INGO) Limited did not hold any funds as custodian trustee on behalf of others.
Reserves policy
The Cycle (INGO) Limited’s reserves policy is to ensure that there are sufficient free reserves to cover a minimum of three month’s operating costs. This was comfortably achieved throughout the year.
Public benefit statement
The Trustees confirm that they have referred to the Charity Commission Guidance on Public Benefit when reviewing the aims and objectives of The Cycle (INGO) Limited and in planning the future activities of the Charity. In the Trustees’ opinion, The Cycle (INGO) Limited fully satisfies the Charity Commission’s Public Benefit test. The Charity provides people in the UK and elsewhere the opportunity to express their compassion and generosity to improving the lives of those who lack basic amenities in India. Through its provision of sustainable toilets, water facilities and personal and menstrual hygiene training, The Cycle (INGO) Limited is, among other things, helping to reduce the spread of disease and increase knowledge, enabling communities to realise their potential through education and work.
Structure, governance and management
The Cycle (INGO) Limited is governed by the Board of Trustees, which carries overall responsibility for furthering the aims and objectives of the Charity and for upholding its values. The names of the Trustees who held office during the financial year and at the date of this report are set out below.
The Charity is governed in accordance with its Memorandum and Articles and is also registered as a Company limited by Guarantee. The Board of Trustees has the power to appoint any person to be a trustee, subject to there being not less than three trustees. Currently the Company’s Memorandum and Articles places no limit on the number of trustees.
The Cycle (INGO) Limited has an open recruitment process for the appointment of new trustees. Selected applicants are invited to meet a panel of serving trustees and also to spend time with the senior management team. Those appointed as new trustees are given a full introduction to the work of The Cycle (INGO) Limited and to the statutory responsibilities of trustees as required by charity law.
The Cycle (INGO) Limited’s Chief Executive is responsible for the operation of the Charity and the management of all staff. The Board of Trustees meets at least quarterly to review operational performance as presented by the Chief Executive and management. The Board also reviews strategic issues regularly.
Directors and Trustees
Trustees and directors of the company who served during the year and up to the date of this report are:
Andrew Barrs, Chairman
Jane Galton (from 12 August 2024)
Jules Peck
Lynn Strongin Dodds
Manda Lakhani
Mark Collins
Rama Murali (from 24 July 2024 until 7 May 2025)
Richard Anderson (appointed 15 January 2025)
Company Secretary
Elspeth Cox MVO (from 16 October 2024)
Key Management Personnel
The key management personnel consist of Georgina Harding and David Crosweller
Reference and administrative details
| Name of registered | The Cycle (INGO) Limited |
|---|---|
| Charity | |
| Registered office | 14 King Charles House |
| Cavalier Court | |
| Chippenham | |
| SN14 6LH | |
| Principal office | 54a Murhill |
| Limpley Mill | |
| BA2 7FG | |
| Company number | 03532799 |
| Charity number | 1070826 |
| Accountants | Natural Numbers |
| 14 King Charles House | |
| Cavalier Court | |
| Chippenham | |
| SN14 6LH | |
| Bankers | Virgin Money |
| Sunderland | |
| SR43 4JB |
The Cycle
Water. Women. World.
The Cycle is dedicated to creating transformative, long-lasting change for vulnerable and marginalised communities. Join us as we build sustainable sanitation solutions, encourage gender equality and help heal the soil.
One dictionary definition of sanitation is, “the study and application of procedures and measures designed to protect public health, as in the provision of clean water and the disposal of sewage and waste” .
This fundamental work is at the very core of all the development that we carry out and, where possible, we ensure that everything is ecological and sustainable. We don’t just endeavour to protect humans and the planet, we also educate people to understand why we are doing this and the long-term benefits to all concerned.
Our work has always focused on women. It is women who are the most at risk when there are no toilets, it is women who generally have to collect water when it comes from a communal standpipe, it is women who are disadvantaged when they have their period – it is always women, and girls, who seem to miss out on the opportunity that could transform their lives to something extraordinary.
With all concerned eyes now turned towards the health of the planet, we have refined what we do to further ensure that through our sustainable toilets, water provision and personal and menstrual education programmes, we can expand our nourishment of the soil and the planet.
Achievements and performance
During the year we have worked hard to provide support for a range of projects that cover our three key areas of Water.Women.World.
Water. This comprises about a quarter of our day-to-day work and involves us in constructing sustainable toilet solutions for school children, incorporating standalone rainwater harvesting, groundwater recharge, and drinking water facilities. During this tax year we constructed toilet blocks in another three schools benefitting 1,481 boys and girls
Women. The greater part of our work, our award-winning Happy Periods covers bodily changes in adolescents for school children, personal hygiene and menstrual hygiene. We engage everybody in this programme, girls, women, boys, men and teachers. Such as been the success of this programme, by the spring of 2025 we have cumulatively trained close to 200,000 people in schools and by reaching out to marginalised communities.
World. We continue our collaboration with Cornell University and Tamil Nadu Agricultural University in the research of mixing humanure and urine with biochar to see the long-lasting impact this has as a soil regenerative fertiliser. It is also a carbon sequester. Results have exceeded our expectations, and we continue to mix our real-world work with leading edge research.
| Unrestricted | Restricted | Period Ending 31/03/25 Period Ending 31/03/24 | Period Ending 31/03/25 Period Ending 31/03/24 | |
|---|---|---|---|---|
| Income from: | £ | £ | £ | £ |
| Donations and Legacies | 214,465 | 205,599 | 420,064 | 465,291 |
| Investment Income (Bank) | 1,718 | 1,718 | 1,795 | |
| Total Income | 216,183 | 205,599 | 421,782 | 467,086 |
| Expenditure on: | ||||
| Grants to Other Organisations | 128,525 | 123,212 | 251,737 | 247,510 |
| Charitable Activities & Raising Funds | 136,846 | 26,572 | 163,418 | 159,874 |
| Total Expenditure | 265,371 | 149,784 | 415,155 | 407,384 |
| Next income/(expenditure) | (49,188) | 55,815 | 6,627 | 59,702 |
| Transfers between funds | ||||
| Total Funds at March 31st | 182,555 | 175,928 |
The Charity has no recognised gains or losses other than the results for the period as set
FNedAssets TangilAe FixfydAwts 1.062 1416 Current Assets 1.153 20.161 Cash at 8ank 189,114 164,506 Totsl 190.267 184,667 Creditors Falling tJ• within one yoar (8.7751 Not CurrentA588t6 181.491 174.511 NetAts 182554 175,927 Fun& Resththod 133.925 78,110 Unrestricted 481>29 97.817 Ttstsl 182.554 175.927 FLYthe 31st VArch 2025 th• w•s•niIii to•x•mkthi thr s•¢#M477 clth• CP•nI Atl rel4tirqto sm•ll¢c¢nynl¢s. CIr•ct. f•$wIlItt., • The MerntM¥ thecomt0Qtlln •n•Jti+ its•tt•Jts lorthelIn In•r¢ty&rKe wlth . The te1¢f5 KkixyAflee Iheirre5rmlt41hle5k¢crAnthwwith the reryArementsaIthEwth respECttoI(¥Of Theie Kccths ty••AwepBr¢d lo•¢t&Ythru wlth •wI•t t•eune$ll1erf tothe sm•llufflpanle5' rryim. l emm1d btyjks •nd suprtir4 rec¢rts 4r findthe •tttythits to be •tDJe1r¢lIf¥I cl thehn•4jtrl•thty. Jenrry BL¥•llACMA )Lty2025 Ths rKlal •m•rrtSW•r••pwth ¢•JlM •TrJ•w• IF•lrbthallty. Athi 8•rrs.ObAI1n
1. Accounting Policies
a) The financial statements have been prepared under the historical cost convention, and in accordance with the Companies Act 2006, Financial Reporting Standard 102 and the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP FRS102).
The charity is a public benefit entity as defined under FRS102.
b) The financial statements have been prepared on a going concern basis. The Trustees are of the opinion that this basis is appropriate.
c) All income is included in the statement of financial activities when the company is entitled to the income and the amount can be qualified with reasonable accuracy.
The value of services provided by volunteers has not been included as the value of their contribution cannot be reasonably quantified in the financial terms.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenants is recognised at the time of the donation.
d) All expenditure is recognised on an accruals basis. Expenditure includes any VAT which cannot be recovered and is included in the relevant costs in the statement of financial activities.
Governance costs are those costs incurred in connection with the administration of the company and compliance with constitutional and statutory requirements, these are a support cost included within charitable activities.
Charitable activity and raising funds expenditure comprises the costs associated with attracting income and those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. They include both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
e) Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Furniture, fixtures and equipment 25% per annum on a reducing balance basis Fixed assets are included at cost. Assets costing less than £1,000 are not capitalised.
f) General funds are unrestricted funds which are available for use at the discretion of the trustees in the furtherance of the general objectives of the company and which have not been designated for other purposes.
g) Restricted funds can only be used for particular restricted purposes within the objects of the Charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. h) The company is registered as a charity and is not liable to United Kingdom income or corporation tax on its income from charitable activities as they are applied wholly to charitable activities.
| 2. Donations and Legacies | Unrestricted | Restricted | Period Ending 31/03/25 Period Ending 31/03/24 | Period Ending 31/03/25 Period Ending 31/03/24 |
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Personal Donations | 138,688 | 1,094 | 139,781 | 185,463 |
| Company Donations | 62,125 | 62,125 | 124,250 | 121,538 |
| Trust or Foundation Donations | 142,380 | 142,380 | 119,857 | |
| Gift Aid/HMRC | 13,652 | 13,652 | 38,432 | |
| Bank Interest | 1,718 | 1,718 | 1,795 | |
| 216,183 | 205,599 | 421,782 | 467,085 | |
| 3. Expenditure | Charitable Activities | Rasing Funds | Period Ending 31/03/25 Period Ending 31/03/24 | |
| £ | £ | £ | £ | |
| Grants to Other Organisations | 251,737 | 251,737 | 227,810 | |
| Staff Costs | 50,380 | 75,570 | 125,951 | 29,455 |
| Other Office Administration | 11,053 | 23,671 | 34,724 | 50,314 |
| Marketing and Events | 899 | 899 | 54,348 | |
| Bank Charges | 1,106 | 738 | 1,844 | 563 |
| 315,176 | 99,979 | 415,155 | 362,490 | |
| NET | 6,627 | 104,595 | ||
| Grants Broken Down as Follows: | ||||
| Period Ending 31/03/25 Period Ending 31/03/24 | ||||
| £ | £ | |||
| Wherever the Need India | 251,737 | 247,510 | ||
| Other organisation awarded less than £5,000 | 0 | 0 | ||
| 251,737 | 247,510 |
| 4. Raising Funds | Period Ending 31/03/25 Period Ending 31/03/24 | Period Ending 31/03/25 Period Ending 31/03/24 |
|---|---|---|
| £ | £ | |
| Staff Costs | 125,951 | 71,453 |
| Marketing and Events | 899 | 55,960 |
| Office Administration | 34,725 | 29,875 |
| 161,575 | 157,288 | |
| 5. Net Income | Period Ending 31/03/25 Period Ending 31/03/24 | |
| £ | £ | |
| This is stated after charging: | ||
| Accountants | 0 | |
| Depreciation | 354 | 472 |
| 6. Staff Costs and Numbers | Period Ending 31/03/25 Period Ending 31/03/24 | |
| The aggregate staff costs were: | £ | £ |
| Wages and Salaries | 125,591 | 71,453 |
| Social Security | ||
| Pension | ||
| Redundancy | ||
| 125,591 | 71,453 | |
| No employee received emoluments of more than £60,000 | ||
| The total aggregate employment benefits received by key management personal were £ | ||
| (2024: £71453) | ||
| The average number (head count) of staff | Period Ending 31/03/24 Period Ending 31/01/23 | |
| during the period was as follows: | 3 | 1 |
The total aggregate employment benefits received by key management personal were £125951 (2024: £71453)
7. Trustee remuneration and related transactions
No trustees were remunerated or were reimbursed for expenses during period (2024: Nil)
Agregate donations from trustees during the period was £1093 (2024: £25496)
8. Taxation
The charity is exempt from corporation tax on its charitable activities.
9. Tangible Fixed Assets
| 9. Tangible Fixed Assets | Period Ending 31/03/25 Period Ending 31/03/24 | |
| £ | £ | |
| Furniture and Equipment | 1,416 | 1,888 |
| Depreciated | (354) | (472) |
| 10. Debtors | Period Ending 31/03/25 Period Ending 31/03/24 | |
| £ | £ | |
| Gift Aid Reclaim | 0 | 19,195 |
| Prepayments | 1,153 | 1,179 |
| 1,153 | 20,374 | |
| 12. Creditors: amounts falling due within one year | Period Ending 31/03/25 Period Ending 31/03/24 | |
| £ | £ | |
| Trade Creditors | 3,423 | 1,688 |
| Tax and NI Costs | 2,629 | 471 |
| Accruals | 2,723 | 2,723 |
| 8,775 | 4,883 |
14. Company Limited by Guarantee
The company is limited by guarantee and as such has no issued share capital In the event of the company being wound up the liability of the members if limited to £10 each. The trustees as a body control the charity.