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2021-03-31-accounts

Page
Report ofthe Trustees 1 to 7
Independent
Examiner's		 Report
Statement ofFinancial Activities
Balance Sheet 'IO
Notes to the Financial Statements 11 to 19

Strategic report
Financial
review
Results
The total
incoming
resources
for the year amounted
to 8401,006 (2020: 6486,598). The surplus
on unrestricted
funds
of
f34,467 (2020:873,556 - deficit) has resulted
in increased
unrestricted
funds carried
forward
to 6120,876 (2020:f86,498).
1he deficit on restricted
funds ofF30,797(2020:f1,814)has resulted
in funds cerned forward
decreasing
tof721,134(2020:
8751,842).
Future plans
After such a challenging
year,
it		 is essential
that we re-establish
Pedal Power's presence
in whatever		 the "new normal" tume
out to be. We will do this by-
Clearly communicating
how		 essential our service is to people to both Welsh Government, Cardiff Council and health
related organisations
Continuing
to raise the profile and awareness
of Pedal		 Power
Consolidating
Pedal Power		 as an essential voice in all matters related to inclusive
cycling		 including the Active Travel
Act and Future Generations Wellbeing
Act
Consolidate
and improve
our presence at the Bay site		 to serve as a shop window and promote inclusive
cycling
Consolidating
our links with		 organisations
who benefit		 from our service and increase the number of participants
attending
Making concerted efforts to strengthen
links between
activities at both sites
Building and extending
links		 with adjacent communities in particular
BAME and disadvantaged/least		 likely to cycle
community
groups
Continuing
to seek a variety		 ofsources offunding
to ensure the		 financial
stability ofthe charity
Continuing
to seek funding		 for core staff, in particular
cycling officers
Establishing
a more secure		 understanding
offinancial		 support
from Cardiff Council and Welsh Government		 in
including
Pedal Power
in all		 aspects ofCardiffs cycling strategy
Continuing
to strengthen
our existing
partnerships
and		 seeking new partners
Extending
and improving
our marketing
and social media strategy,
including		 reviewing
marketing		 materials
Continuing
improvement
of		 our financial
efficacy
Seeking new and innovative ways to increase funding streams and so improve
our financial
security
Continuing
to improve
the efficiency of all operational
areas, internal
structures
and staff training		 to improve our
customer
provision
Structure,
governance
and management
Legal status
Friends
of Pedal
Power
Ltd. is a company
limited
by guarantee,		 registered number
4373456,		 and is governed by its
Memorandum
and Articles of Association
and a charity registered
with the Charity		 Commission, number 1092304.
Recruitment
and appointment		 ofnew trustees
The Trustees
who are appointed		 by the Members
at the Annual
General
Meeting		 are recruited through local advertisements,
organisations
with whom the Charity
works and interested		 members of the public.
New trustees
are		 provided with induction
and continuing
training
by the Director and staff. Training		 includes responsibilities of trustees and details of the Charity
and
its history.

for the Year E nded 31 March 2 021
2021 2020
Unrestricted Restricted Total Total
Notes fund
6		 funds
6		 funds
f		 fundsf
Income and endowments from
Donations
and legacies		 22,887 22,887 13,962
Charitable
activities
Cycle and Membership 252,119 800 252,919 176,255
Other trading
activities		 125,152 125,152 293,085
Investment
income		 46 46 305
Other income 2,991
Total 400,204 800 401,004 486,598
Expenditure
on
Raising funds 30,167 30,167 31,597
Charitable
activities
Cycle and Membership 335,517 31,507 367,024 530,371
Total 365,685 31,506 397,191 561,968
NET INCOME/(EXPENDITURE) 34,519 (30,707) 3,813 (75,370)
Transfers
between funds		 17 90 ~90)
Net movement
in funds		 34,609 (30,797) 3,813 (75,370)
Reconciliation
offunds
Total funds brought forward 86,409 751,931 838,340 913,710
Total funds carried forward 121,018 721,135 842,153 838,340

2021 2020
Unrestricted Restricted Total Total
Notes fundf funds funds
6		 funds
Fixed assets
Tangible assets 12 5,014 707,300 712,314 738,881
Current assets
Debtors 13 3,086 3,086 45,769
Cash at bank and in hand 148,927 13,835 162,762 75,377
152,013 13,835 165,848 121,146
Creditors
Amounts
falling due within one year		 14 (24,009) (24,009) (21,687)
Net current assets 128,004 13,835 141,839 99,459
Total assets less current liabilities 133,018 721,135 854,153 838,340
Creditors
Amounts
falling due after more than one year		 15 (12,000) (12,000)
NET ASSETS 121,018 721,135 842,153 838,340
Funds 17
Unrestricted funds 121,018 86,498
Restricted funds 721,135 751,842
Total funds 842,153 838,340

2021 2020
8
Fundraising events 1,197 546
Kitchen sales 40,157
Product sales and Next Bike 123,955 252,382
125,152 293,085
Investment income
2021f 2020
Deposit account interest 46 305
Income from charitable activities
Activity 2021f 2020
5
Training Cycle and Membership 4,458 13,124
Cardiff City Council Cycle and Membership 22,779 22,779
Bike servicing and repairs Cycle and Membership 6,914 3,047
Membership and session fees Cycle and Membership 2,538 9,590
Hire income Cycle and Membership 33,444 98,718
Peter Harison Foundation Cycle and Membership 10,000
The Crane Foundation Cycle and Membership 3,997
Glamorgan Voluntary Service Cycle and Membership 15,000
Moondance foundation Cycle and Membership 31,340
Government grants Cycle and Membership 151,446
252,919 176,255
Raising funds
Other trading activities
2021f 2020f
Events and publicity 902
Purchases 30,167 30,695
30,167 31,597
Charitable activities costs
Support
Direct costs (see
Costs note 8) Totals
6
Cycle and Membership 326,868 40,156 367,024

Support costs
Governance
Management
f		 costs
f		 Totals
f
Cycle and Membership 37,175 2,981 40,156
Support costs, included in the above, are as follows:
2021 2020
Cycle and Total
Membership activities
f
Wages 36,517 55,133
Light and heat 573 659
Office expenses 85 1,283
Accountancy
and legal		 fees 2,981 4,625
40,156 61,700
Net income/(expenditure)
Net income/(expenditure) is stated after charging/(crediting):
2021
f		 2020
f
Depreciation
- owned assets
Surplus
on disposal offixed assets		 29,266
~917)		 29,719
~9,471)

Trustees' for the year
Staff costs		 ended 31 March 202
0.		 ,,
2021f 2020f
Wages and salaries 260,838 393,806
Social security costs 10,071 22,927
Other pension costs 15,494 19,674
286,403 436,407
The average
monthly		 number ofemployees during the year was as follows:
2021 2020
Cycle &cafk activities 19 27
Directors
&finance		 2 2
21 29

Tangible fixed ass et s
Freehold Motor
property
f		 Equipment
f		 vehicles Totals
f
Cost
At 1 April 2020 839,802 51,534 28,588 919,924
Additions 2,699 2,699
Disposals ~11,765) ~11,765)
At 31 March 2021 839,802 54,233 16,823 910,858
Depreciation
At 1 April 2020 122,796 29,659 28,588 181,043
Charge for year 16,887 12,379 29,266
Eliminated
on disposal		 ~11,765) ~11,765)
At 31 March 2021 139,683 42,038 16,823 198,544
Net book value
At 31 March 2021 700,119 12,195 712,314
At 31 March 2020 717,006 21,875 738,881
Debtors: amounts falling due within one year
2021
f		 2020
6
Trade debtors 399 42,004
Other debtors 254 254
Prepayments 2,433 3,511
3,086 45,769
Creditors: amounts falling due within one year
2021 2020
E
Trade creditors 725 741
VAT 20,472 17,781
Accruals and deferred income 2,812 3,165
24,009 21,687

for the Year for the Year for the Year for the Year Ended 31 March 2021
15. Creditors: amounts falling due after more than one year
2021 2020
f f
Other loans (see note 16) 12,000
16. Loans
An analysis ofthe maturity of loans is given below:
2021 2020
f f
Amounts
falling due between
Other loans -2-5 years		 two and five years: 4,500
Amounts
falling due		 in more than five years:
Repayable
by instalments:
Other loans more 5yrs instal 7,500
17. Movement
in funds
Net Transfers
movement between At
At 1.4.20
f		 in funds funds
6		 31.3.21
f
Unrestricted
funds
General
fund		 86,409 34,519 90 121,018
Restricted funds
Big Lottery Fund 226,615 (6,000) 220,615
Cardiff Council - Capital Grant 84,437 (2,232) 82,205
Welsh Government —Communities Facilities
Activities Programme 405,951 (8,656) 397,295
Porth Teigr 8,344 (2,846) 5,498
Peter Harison
Foundation		 5,833 (5,833)
Cardiff Rotary Grant - Sparks 3,282 (1,059) 2,223
Glamorgan
Voluntary
Service		 13,480 (2,109) 11,371
The Crane Foundation
Work placement
scheme -		 extension 3,380
609		 (1,362)
~609)		 (90) 1,928
751,931 ~30,706) ~90) 721,135
TOTAL FUNDS 838,340 3,813 842,153

Net movement
in fu		 nd s,
include		 d
in		 the above are as follows:
Incoming Resources Movement
resources expended in funds
E E E
Unrestricted
funds
General
fund		 400,204 (365,685) 34,519
Restricted funds
Big Lottery Fund (6,000) (6,000)
Cardiff Council - Capital Grant (2,232) (2,232)
Welsh Government —Communities Facilities
Activities Programme (8,656) (8,656)
Porth Teigr (2,846) (2,846)
Peter Harison
Foundation		 (5,833) (5,833)
Cardiff Rotary Grant - Sparks (1,059) (1,059)
Glamorgan
Voluntary		 Service 800 (2,909) (2,109)
The Crane Foundation
Work placement
scheme - extension		 (1,362)
~609)		 (1,362)
~609)
800 ~31,506) /30,706)
TOTAL FUNDS 401,004 ~397,191) 3,813
Comparatives
for movement		 in funds
Net Transfers
movement between At
At 1.4.19 in funds funds 31.3.20
E E
Unrestricted
funds
General
fund		 160,053 (73,759) 204 86,498
Restricted funds
Big Lottery Fund 232,615 (6,000) 226,615
Cardiff Council - Capital Grant 86,668 (2,231) 84,437
Peter Harrison
Foundation		 5,833 5,833
Welsh Government —Communities Facilities
Activities Programme 418,844 (12,689) (204) 405,951
Porth Teigr 11,189 (2,845) 8,344
Cardiff Rotary Grant - Sparks 4,341 (1,059) 3,282
Glamorgan
Voluntary		 Service 13,569 (89) 13,480
The Crane Foundation 3,202 89 3,291
Work placement
scheme - extension		 609 609
753,657 ~1,611) ~204) 751,842
TOTAL FUNDS 913,710 ~75,370) 838,340