Compan)- registration number= 04373456 Charity. registration number= 1092304 Friends of Pedal Power Project Ltd {A compan!. limited b)" guarantee) Annual Rert and Financial Statements for the Year F.nded 31 March 2025 ISJ Accountants Ltd Sei'ern House laLell Driwe NeNvport South W'ales NPIO 8FY
Friends of Pedal Power Project Ltd Contents Trustees, Report I to 12 Statement of Trustees, Responsibilitie5 13 Independent F.xaminerfs Rewn 14 Statcmcnt of Financial Actii'itics 15to 16 Balance Sheet 17 Statcmcnt of Cash Flo.5 18 Notes to the Financial Statements 19tO)O
Friends of Pedal Power Project Ltd Trustees, Report The Irusiees, who are direciors for ihe purposes of compan! laii": preseni ihe annual report logether with ihe Iinancial statements ot the charitable compan!- tor the l'ear ended 31 March 2025. Objectives and activities Overall Cbaritable Aims and Objectives -I"he promoiion of communily" parlicipaiion in healihN' recreaLion for the benefil of both disabled and able-bodied i'isitors to: and inhabitants ot.. the Cits" ot Cardity. Nfale ot CJlamoroan and enN'irons in particular. but not exclusil'el!: by the proi'ision of faciliLies for cvcling and ad.ancemen( ofpublic education in c>'cling safely Objectives OTr'ercome barriers to cycling especiall}. for those ivho are disabled or disadi'antaged Promote inclusive c)'cling as a route to equal access to health and ivellbeing ProTr'idc an cfficicnt and cffcctivc c!'clin2 5crvicc opcn to all childrcn and adults for cyclc hirc. training and maintenance Proi'ide a Lommunil). facilil). for c)"clists and the public io socialise. access opporlunilies lo improve health and ii'ellbeing. attend ¢ommunits' meetings. appreciaie the eni'ironment. encourage actii'e travel and gain confidcncc: skills and cipcricncc Strategie Objeetives To be ividelv recognised as a cenlre of excellence for inclusii"e ci"cling. proi'iding a qualit)w experience of accessible/inclusive cNcling from our siies and: Ihrough oulreach: surrounding areas To bc iiurking continuousl!. to bc an ctficicnt and accountablc organisation. rnaintaining and improwing all internal processes Rcgular rcncwal and updatin2 of cquipmcnt and tcchnolog staft and i'olunteer trainin2 and M"ellbein2 robust and effeciive communication i%"ith our skeho1de {WG. CCC, PI IW. healih orgs) To m&ximise the beneficiaries of our sm iLe5 ihrough raised ai4areness and understanding bv relevant groups and orglSatIOnS and bl. supp)rtine similar oroanisations across Wales Secure and il'idespread aii'areness of our senyices Rccognition of M"ho wc arc and H"hat ii"c proi"idc- brdnd/quality Inclusionlmention in WG and CC relei'ant planning e.?. health, wellbeing. actii'e travel Grants and foundalions Existing rcN'cnuc 5trcams Donation 3 - To be securel). funding the mission b!. optimising all sources of income Page I
Friends of Pedal Power Project Ltd Trustees, Report Significant aclivitie5 -l-he charil). carries oui a "Ide rdnge ol actii'ities in PUTsuance of its charitable aims. -lThe -1 ruslees consider ihal Ihese aclii'ities, summarised below, proi'ide benefit ix)th to those ivho make use of our seTrices and lo the wider communitv. Actii'ities Inclusivelaccessible cvcle hire serk'ice General cycle hire service Cvcle training, cvcle maintenance and refurbishment of donated bikes Regular group cj'cle rides. and social actii'ities Cafc Volunteering and work placement OPFrf)rtunities Infomation. learning and expertise on inclusii'e '¢ling Chair's Report 'l-he-l-ruslees Report highlights ihe significanl achiei'ements of Pedal Power oi er the lasl 12 monihs. It has been a >'ear ol- change as il'e said goodbi e to Sian Donoi an our Direclor and 'elCOmed Sam Farnlield inlo the ]x)st. Sam has bccn ii'ith Pcdal Pol"cr for mans" I'car5 and his cipcricncc and knoiN"Icdgc has bccn invaluablc in continuing to dei'elop the oroanisation and in it achiei.ino more _oreat thinos for the manN' people M,ho come to Usc our cafL and cl]L scn"icc5. Sam il.as joincd bi" .4nna Bci"an part uf our SL"niur Managcmcnt Tcam and she is already prowen to be a real asset for the organisation. Our staff and volunteers continue lo mak'e a real difference in the lii'es of the people ii'ho use our seThices and on behalf of mvself and m!, fello. Trustees. l iyish to express m!. sincere gratitude to them. l ..ould also like to thank the "I rusiees M'ho hai'e supported me as Chair in ensuring ihe organisaiion is run ivell and meels all ils legal obligations. We face signiticant chic Ilenges in the coming ! ears not least getting the right funding lo continue ii.'hat we do. .hich gcts cvcr morc ditfiLult. Hoii"cs"cr ii"c haN"c a grcdt tcam ii.ho continuc to facc up to thc challcngcs and enable us to continue our success and our ston-. We i¥ill coniinue lo change and adapt i%.hal lie do but alii'ays ii"e i%".ill remain Irue lo our i'alues and our mission. Wc rcmain a kc!, part ot- thc c!"cling communiti" in Cardiff and in cnsuring that cl'cling is somcthing to bc enjoyed by an)'one. This is M'hat has made Pedal Poii'er ihe organisation it is and one that l am proud to be a part Peler Hordingy Chair Page 2
Friends of Pedal Power Project Ltd Trustees, Report Director's Report All Lhangel Stepping into the nem. role as Pedal Poiver DireCr I musi firsl sa), how delighted I was in taking Ihe reins from our previous director Sian Donoi'an and continuing her good ..Ork. Pedal Poiver is a communit!. a cycling hub and broad familv of stsff: Trolunteers: users and man>. more supportcrs. all pa5sionatc aknut our aims to includc "cr}-onC in cl'cling. If we 'ere in doubt ot the Fopularits. of inclusive cs'clin? and it-s demand: summer 2024 gaiwe us a wondertul glimpse of just holi popular our offering is iviih a rise in i.isiiors and cvclists enjoying all Me hai'e to offer rain or shine M'e sa14. thousands ot more rides on the prei-ious !-&qr. One ii"'a!' to test the si'stem, is to tK)ur more in. and this summer shoii'ed us the demand for our offering and thus thc nccd to build a Pcdal Poisrr ablc to groii" and bc hcrc strongcr for thc futurc. '1th man!, months of Molability l.oundalion funding still ahead of us it lias ihe lime io ihink on ivhal i%'e do besl and holi. w'e deliiwer our )'ear round service. Autumn sail" us be2in a pr02ram of in house working. boosting training. N'olunteer packages. implementing nem. svslems and procedures to be read for the folloi4.ing summer. all this meeting our ongoing aims lo make Pedal Poi%"er a shining example ofbe5l praclice in our field. I was pleased to be joined in spring 2024 b!" our neil. Senior Otficer Anna BeN'an. joining Pedal Po..er Th"ith a 'ealth of experience and passion l-or the Pedal Poii'er joumth". Anna has brought a LfuLial d) namic elemenl to our growing team. Continuing as nomal 'e strove to engage M'ith communities and be the voice for inclusion and accessibility in c)'cling. Our annual ridc t.or All and Yulctidc Ridc as tKbpular stslH"art5 in our .cnts calcndars M"'ith thc rcgular kjuleioivn Carnii'al N%'ere all joined b! lantern rides. festii e iiinier rides 0er the Christmas break and a large number ot re?ular ii'"eekl!. led social rides includino our FK)pular tandem rides all ot iN'hich gil'e visibility to our mission and support our users in accessing ci'cling and going further. Dcmand for tastcr5 SC5sion5 grcw ii'"c iycrc plcascd to ii"clcomc manN' morc ncNi' organisations to cnjo). our bespoke L'¢ling offering alongside space 10 relax in our communits" cafe. Our cafe sail, an incredible boost in rooifall w'ith ear on year sales increasing b. 260/0 whilst Siill hosiing ans and crafts and music sessions lo maintain the holistic approach to cj'cling ive all enjo).. We look fonl'ard to the coming N"ear ii'ith lots of ideas and a strong ieam of stsff and volunteers to help achieTre our aims. Inclusive c)'cling is the future and is'e feel ever4.one 15 beginning to realise this! Sam Farnfield, Direclor Page 3
Friends of Pedal Power Project Ltd Trustees, Report We believe that Cycling should be inclusii'e and our eiiensii'e i"arieii." of cN'cles combined 1th our e.xperience and expertise in ilork-ing iN"ith all aoes and abilities places Pedal Poii"er idealls. in prol'iding cj'cling opportunitiC5 to Cardiff and thc 5urruunding ca5. Inelusive cyeling Pcdal Poii'-cr has aliva}"s bclici-cd in rcmoi.ing barricr5 to "cling. ii"hcrci"cr tK)ssiblc. Thcsc barricrs ma}, bc phvsical anivor perceiied so ile aim for ei"er% ClIng eiperience be as posiliwe as possible. It is i'ery important that all our customers teel 1s"elcomed and i'alued. particularli. the elderl!. and disabled M'ho often teel most wulnerable. Pedal PO.er'S role in ensuring ihai all communiLies are included in CVLling has a reneived importance as the benefits ot o'cling extend past the phl-sical and mental to include the social aspect combined 'ith health benelils and general Mellbeing. We make elTorts io ensure ihaL our and i'olunteers are trained io build relationships ii'ith our customers. demonstrdtino sensitii'ity. to each indii'idual and their needs. In order to support CWCry' Ll'cling journc!. w"hcthcr ncii" or rcturning to cN"cling. i%"c proi'idc SPCLialist asSCSsincnts to recommend the best bikeltrike and accessories: learn to ride sessions for all ages and all abilities. skills building and practicc scssions alongsidc lcd social ridcs at various ability" Ici-cls. Wc arc cicitcd that our sccond sitc. at Cardill. Ba),. i%.hich i¥e conlinue to improi'e. offers a contrasting and often invigorating experience. Our mcmbcrship modcl supw)rts thosc c)'clists ii.ho mai" nccd a carcr or familTr mcmbcr to accompany thcm, encouraging the suptK)n and social elemeni 10 dei'elop more trequent actii'it¥'. Objective5 and activities General Hire We want ewern'one to enjoN the benefits of c! cling and so in addilion io our membership model, designed io support disabled cs'clisLs. lye proi'ide a "Cle hire sen'ice that is open to all. ii'elcoming the general public. Our spccialist flccl of cl'clcs. numbcring in cNccss of 200. includc5 C-5]St bikcs. £-CgO bikcs. C-trik top qualiiy 2 wheeled bikes in a 'arlet1. of si7.es, including for children, all ai'ailable for hire. We proi.'ide helmets, locks and. if rcquircd. a ii"atcr-rcsistant poncho- all "ClIng nccds can bc mct bl. Pcdal Poii"cr. Il'c also proTridc galongs, buggies and child seals. ensuring th iihole families can enjo) c! cling. Nl.'e our eilensii'e wcle hire facilits, M'-c arc casil! ablc to proN'idc bikcs in largc numbcrs: lhcrCb facilitatinq group hircs and ha'C bccn delighted to see the groil'ing return ot- larger groups from Europe. notablN, Belgium and France enjoying large group guided ride5 exploring the sites of Carditr. Maintenance and repairs The iwariety and number ot" our tleet requires a specialist t&qm delIerIn2 dailN' maintenance and repair, with all our mcchanics ii."ho ivork Th'ith Pcdal PoM"cr rcccii"c training and gain cxpKricncc of ii"orking ivith adaptii'c trikcs and accessories. This means thai el'm. mechanic ii'ho joins our team is enriching their knoii"ledge and undcrstanding ot" o'clcs- spccialist upsk-illing at its bcst. [C a150 offcr maintcnancc and rcpair scThwiccs to thc public regarding ihis element as one iyhich continues our inclusii"e ivork and aims lo proi.ide an approachable and knoi%."Icdgcablc tcam of mcchanics for customcrs booking in thcir CC]c5 for rcpair. As dcalcrs fur thc majorii! ot our accessible Ll'cles li'e also assisi customers in Ihe build and sen'icing of their adapted c) cles. Refurbishing and re-selling donated bik-es seTr'es the dual purwse ot rnisino tunds for the charitv and proN'iding affordable bikes, plus reducing landfill. l.or donaied bikes ii.ho cannoi be upcl'cled "e are proud to conlinue circular econom!. model. saTr'ino parts ii,here possible and then donating scrap 10 another local Charl Carditf Rii'crs Group M'ho ii'"c arc plcascd to Mork ivith and assuring nothing is wastcdl South Walcs Policc sccurit markino scheme continues to ivork m.ith us in hi?hliohtin? the sad need for securitJ-. as bike theft continues to rise aloong i¥iih demand for Dr Bike sessions seeing our aM proi'iding IS. Welsh GoN'ernmenl and I IMRC leams with Dr Bike safet). checks for staff ci cles. Page 4
Friends of Pedal Power Project Ltd Trustees, Report Training Many people Loming to Pedal Poii"er for the fIl lime li ill be apprehensii'e and our membership ensures finding Ihe best cy'cle for them through assessmenis and re-assessments are undertaken regularlN'. Our experienced cycling ofticcrs arc in high dcmand t-or this 5cn"icc. I'cn" oftcn: Icarning lo ridc and building skills scssions w"'ill need to be taught il'ith additional sensitii'it). and paiience. in particular to adults and children ii.'ith additional needs. We are a150 delighted to hai'e a groii.ing number ot older people beginning or reneiving their cycling journeN's. either in respM)nse io healih issues or 10 eniiironmenLql issues. or boihl Our e assist and 1014, step through ci'clcs. both tii"o and thrcc is-hcclcd. hai-c bccn i'crn" popular ii-ith this group. cncouraging indcpcndcncc and more frequent activit). "l-he number of our social rides. suprK)rted b). Irained i'olunteers has groiin fast, through popular demand. .-e are also Tr'ery pleased to be continue ii"orking regularlST ivith the NHS: using c)Lling as a poiierful rehabiliiaiion aLIiN'ii!'. Cafe Our community cat-c is thc Social hub of Pcdal Powcr and continucs to pla), a vitsl rolc proN'iding not only reasonabl!, priced refreshments but also a ii'elcoming social space ivhere people can rel&x and feel at home, Ivith no pressure to purchase or to leai'e. This vear sail. our cate groii. in rx)pulariry to a unforeseen lei"el: the number of sales li.as up 260/0 and our total sales re.enue up a ii"hopping 460/0. All thanks of Lourse our laniasiic ieam of sthlT and I'olunerS we are so pleased this element of Ihe Pedal Poii'er experience is groiving in such kX)pulariTh'. Our Cafe offering is broad M'ith things like our Communitv Notice lJ)ard helping keep th.'ervone in touch ivith local ci'cnts and a communits" otlcrino alloiiing frcc spacc for groups to mcct mcaning Ni'"c hai.-c a groiling number of organisations ivho like to use the space for meetings. Oi'er the ii'inter ive ii'ere a registered Warni Spacc and wc continuc to otTcr a i'aricti. of actii'itics and ci"cntfr our ii.cll c5tablishcd cxhibition spacc for local artists has a rolling program. students trom Ihe guilar departmeni of Ihe Roi'al 11.'elsh College of MusiL and Drama treat us regularl). to astonishing i'irtuoso perfomiances. Ive hai'e hosted visits from local choirs {Oasis One World Choir. Voicemale and Women in I larnioni") and facilithied craft sessions for props for the ilulelowi Carnii'al and lantcrns t-or our ii-ondcrtul lantcrn ci-clc ridcs. not to forgct our rcgular Not in thc Pub quiz. Whalewer reason brings N'ou io Pedal PoN%'er our aim is aliva)"s make i'ou feel part of the famil!. ! Involving People illembers: Ei'cry'onc is ii"clcomc at Pcdal Poii'cr. but our uniquc mcmbcrship offcr mcans ci'ciTr indii'idual member is able to receii'e an assessmenl and re-assessments. access to all our fleet and accessories. a reduced hirc and c)'clc training fcc ii.ith thcir carcr u'cling for frcc. Pcdal Poiirr is about communitv and M'C makc cTrcry etTort to get to knoiv our members. man). of ii'hom hai'e attended for manN' l'ears. This }'ear 'e proiTided pportunities to participate tor tree in our annual Ride for All. lantern rides at Pontcanna and the Bay, Butetown Camii'al and our fesiii e Yuleiide Ride. Support workers and organisations: Pedal Poii"er continues to iKDrk at making strong relationships iN'ith special schools. colleges. care homes and third sector communiTh' organisaiions from Cardiff, Ihe Vale. RCT and bcvond. Wc ali4"a!'5 cncouragc visits and tastcr sc5sion5 as this is dcflnitc1 thc most cffcctii'c ii'.av of pcoplc understandino ivhat Pedal Poii"er has to otler. Our tree e 'Cle t&sters continue to be received enthusi&stically and i%'c continuc to otfcr c!"clc training to carcri to improi"c thcir cunfidcncc i%,hcn accompan)'ing Llicnts. Volunteers: Wc arc cAtrcmclN. fortunatc to hai"c a strong i'oluntccr tradition and man!, loval ind].7duals Th'ho hai'e been iN'ith Pedal Poii'er a long lime. The roles are i'aried- supponing cN'cle hire. helping out in the cate, supporting our music session and Reception. facilitating questionnaires and a groiving number proN'iding support for social rides and confidence building sessions including iiorking i4iih SighiLife and piloling tandems. This is an area ot" our ser¥'ice that ii"e understand is i-en. imrxirtani in encouragino people to take up c)'cling and increC c}'cling activ"itics in thcir daili" lii'cs and our ci.clc i"oluntccrs pla) a significant part rolc models enabling regular cvcling alongside companionship. Page i
Friends of Pedal Power Project Ltd Trustees, Report PartDership5: BACA-BuleloM'n..Ir¢s and Culiure As50cialion Blachi'ood Siroke Socielv Cardiff Council- anoihei. ¢onlinuance on oui-.4diili Sen?icesfvndingfoi- anoiheryear Cardiff Cycle City'_ Pedal Pom'er ii-inning hi'o aiiiardfop- cjrling sen'ices Cardiff..tlel Cardiff Rii'ers GTQUP C'ardiff Lniversil). Cerébra Ditsiensions Disability Spori IYales- Insporl ei7enl Ii'orking ii'iih oiyer ?00 disabledchildren FOR Cardift. Help fror Heroes InnoTrale Tnisl, cr(rft session5 t7ndparticipalion in Bule lffli'n C arnii'al .Ilorello Clinic ,IIS Society Oasis PHIF'-..Iloi'eJirfore, Eai Well IMIIB Rojal Ivelsh C ollege olfvliisic and Drama SCOPE Sighilife South l{Jales Police SRCDC Souih Rikerside Comm14nin, Dei'elopnieni Cenire Transpori I,or Ivales Unite O'nion- Friends Oniled50cial cjcling group Vale ofGlamorgan-fvnding Barrj" Bike Club Walerfronl partners- ¢hi5 15 a group lo ii'hich ii'e subscribe in order lo keep abi-ea51 of busine55 dev'elopmenis in ihe B(ry area K'elsh Cycling- Bree-e Rides IY.VC- Bule low'n Carnikal Women Conneci Firsi Schools accessing our sen'ices al our main localion and iyi5iling iheir siles including Iy Coch, Red Rose. lsgol I, D¢ri. H¢aillanils. lfr'oodlonds. TJ. Giiyn. Riiyerbank. Isgol Glaniaf Ysgol Trreganna, Si Teilos, Beechkvood C"ollege among51 oihers. Pedal Pom'er coniiniies io M'ork aciii'elj, ii'iih schools. colleges. oiher oi¥onisa140ns lo deliiyer otsr sen'ice5 and impi'oi'e oiir oiitcomesfor indii'idiia15 and comniunilie5. Page 6
Friends of Pedal Power Project Ltd
Trustees, Report
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Friends of Pedal Power Project Ltd Trustees, Report Inclusive Cycling Our membership as of J IIOJ12025 sthnds al 1231 and ive delii'ered 14.644 member hires (this includes carers bikes) across Lxith sites. Pleased to sa!. this has increased in number bi nearl). tsvo thousand rides on last year. General Cyele Services Our general hire salv the firsi real groirth posi pandemic ii.ith a iotal of 4861 fifteen hundred aboTre lasl l'ears figures across knth sites. This makes a lotal hire across both sites of 19.45) a rise of oi'er three thousand rides rrom the past ear. We Lonlinued thke in and refurbish donaied bikes and a to1 of )07 donated bikes were rec)'cled and sold an increase ot" nearl!. 100 Irom the past )-ear. Il-e also donated a number of children's bikes to GrangL Pai'illion. Rii'crsidc fcstii'al. Ukrainian Hub and to Oasis numbcring oi'cr 100. W'ith our Thorkshop providing 688 repairs to customer cl'cles. Dealership We vN'ere pleased to iielcome a neil. role to our team at ihe siart of 2025 pulling oul loe further inlo the water in expanding our sales otterin£ ii'ith a dedicated role of Sales and Dealership Otficer, our aims are no.. to expand our salcs oftcring. Lrcatc salc5 paLLagc5 and dci.clop a groii.ing incomc strcam Ih1Ch cnablcs Pcdal Powc to pro.Ide the highest qualitv c)"cle for our members and users. Sales Kvere positiN'e for this vear ii'ith a final large purchase from Cardiff Councils schools cvcle project providing schools Ns'ith cyclc5: Pcdal Powcr thc proi.idcr for adaptcd "cIC5. Case study Motability tunded cl'cling ot7icer Stei-en talk-s about the success of this wpular social ride Our tandem group ridcs at Pcdal Pom'cr just onc of man!" rca50ns I loi"c m!" job 50 much. At thc start of rolc. l ii'"as taskcd '"ith bringing more social rides lo the charits- and reintroducin2 2roups that have been lost due to COVID. After training nei4. i'olunieer pilots and establishing routes. ii"e ini'iied some of our regular members Ih0 ride our much sloii'er side-b)'.side tandems. io ride fanher and faster on our sLqndard front and back tandems. From there wc havc bccn stcadil). groThing and now haN-c about 12 pilots and 10 participants. '"Thc tandcm group is morc fun than I can dcscribc. Thc pcoplc arc just loN'clyl I hai'c to ridc a tandcm or sidc by side because l am blind and need a sighied piloi. I look fonlard m! c) cle ride for ihe whole fortnight. I have cvcled to places I hai'e nes'er been before. I had never "cIed on roads betore but have total confidence in Steven and the pilots. Participant Thc aim of our group is to proi'idc a Thai" to mcct thc nccd5 of our mcmbcrs. ii'hich can bc aTrIng and uniquc dependino on the individual. Some join our Qroup for the exercise. some used to be ai'id cyclists but find it dil¢U1t to see and cl'cle on their oiin. but mosi join for ihe social elemenl of c)'cling logether as a group. 'l-he landems have been a great tool for us all to get to knoiv each oiher better and groii.. close as a creii.. After a feM.' Scssiuns it bccamc obi'ious that partiLipants and i'oluntccrs ii"antcd to go furthcr and fastcr. Sincc thcn, Th'c'i.'c provided our N'olunieers 1th on-road training alloiiing us 10 mol'e safel!. to neil, places as group of tandems. '"1 am no1. cN'cling regularl!,. We hae loi'el! chats along the wa)". with descripiions of whal we are passing. I have not laughed so much for s'ears. ' Parlicipant This has all0.ed us to deN'elop n¥ routes such as headine out to St. Faoans. up the TatYTrail to Caerphill). or out around Cardiff Ba).. Wc havc a150 tskcn thc group to con]plctc thc Tour dc GM'cnL a 20-milc cN'cling rc. Next week we are getting Ihe irain as a group to take the tandems from Bristol to Raih and back. Tandem riding is prol'iding me il'ith a neil. challenge and more opw)rtunity to help people from which I gain huge satisfaction and sense of achiei'emenl." Tandem Pilol Page 8
Friends of Pedal Power Project Ltd Trustees, Report I gel so much jo), in leading this group of tandem ii"clists. l'ie seen the group become so supportive of each ther and I have leamed a lot about those ii.ho lii'e ii'ith i'isual impaimients. It's great to hai'e such a positive group of pcoplc to ridc w'ith. "It is grcat fun and a littlc holiday from thc 1s"orrics of nornial lifc Participunl Fundraising events Another e.¥cellent Ride For All this l'ear. This ride has at its core the aim to proN'ide a social and inclusiN'e ride: .hich our members Can partlLipaie in i%"iihoui charge. enLournging oiher cl'clisis of all ages and abililies lo participate and Ihus raisino our i-i.sibilin' ii'ithin the capital citi". The ride h&s iterations. the main ride being through thc cit!. ccntrc. a shortcr ridc bcing around thc park. but ci"cr¥"unc joins togcthcr at thc cnd fur somc light refreshments. Oi'er 100 people took part in our Ride for All Ihis N'ear ii'hich is marshalled and sup]x)rted bv slatT and i'olunleers. Our seLond annual calendar ei'eni the Yuletide Ride i(N)k place as usual on our last dav before the Christmas holida)'s. Ivith a festii'e park ride folloived b> carols in ihe cafe and mince pies for all! Pcdal Poii'cr continucs thc cthos of inclusion and communits. all I'rar round. Throughout Th'intcr H"'c hcld a scrics of lantem c!'Lle rides, ii'ith laniems crafted in our cafe. riders look 10 Ihe streets in Ihe city. cenlre and across Carditf barrage to light up the ii'inler gloom. our linal Cardiff Ba!. ride in Februarn. had oi'er 80 participants and 'as a beautiful spectacle for all taking part. In spring Pedal Poiver opened il's doors in supp)rt of children s brain injurn Charitl, Cerebra being the launch lor Ihe Cerebra baton rela!. i%.hilst raising aii'areness of our ivork. This alloived a redesign of our large evenl model and brought aboui a new large cvcle group sei read for our nexL Ride l.or All. Financial review Reserves poliey The Trustees, policN' is to ivork toii?rds a minimum l-e1 of unrestricted funds equivalent to SIN months operating costs and lo pro.Ide suifiLieni funds io alloii the Charil!" io meei redundanLV and oiher major emplojee and contractual obligations should the funding leve15 t.all or be deferred to giN"'e time to find alternative sources olthe income. 'l-he irustees are mindful ol Ihe need io increase ihe lei.el of ai"ailable resenjes bN' increasing core income Ihereby reducing the charil> s reliance on grani funding. The level of available unrestricted funds at the balance sheet date after the investment in unrestricted fixed asscts is £125:86512024= £114.4801. Results The total incoming resources for the vear amounted to £663.98 (2024= £744.702). The deficit on unrestricted runds of (£35.39)) 12024= surplus £liO.J2il has resulied in unresiricied funds carried fom.ard increasing to £183.794 {2024.. £218,188). The deficit on restricted funds lafter transfers) of (£74:3781 (2024: (£42:0581I. has rcsultcd in lunds carricd foTh'ard dccrcasing to £6J2:6i8 (2024= £749,094). Page 9
Friends of Pedal Power Project Ltd Trustees, Report Future plans -l-here is newer lime for complacenci. iyiih our passion and aims. the challenges continue and so Pedal Power 'ill continue to consolidate its rK)Sition bs.: ScLking all OPFM)rtunitiei tu communicatc thc i.aluc and nccc5sits" of our SL"r¥'icc to Wclsh GoN'crnmcnt. Cardiff Council and associated w)litical and financialls. w)ii"erful organisations. Continuing to be a i'oice for ihe disabled communit)" in relaiion io cicling opp)rlunilies through presence at cl'cle and actii'e trai'el related meetinJo and initiatii'es• Cross Party CJroup on Active -Irai'el. Sub Commiiiee on InLlusiie Aciii"e "l-rni"el. "l-ranslonn C)'mru Conlinuing lo pursue and strengthen relationships ii'ith all healih-related oroanisations (Public Health Wales. Cardiff and Vale I lealth Board: Llandough I lospiial and all Nl IS relatedl in order ensure ihal we are full) ulilised as a resource to SUPFMin preventatii'e approaches to health and thu.s reduce pressures on the NHS Strengthen our links M"iih organisaiions M"ho benefil Irom OUT serwice and increase the number of participants attending F.stablishing a more secure understanding of financial suprK)rt from Cardiff Council and Welsh Goi'ernment b!. including Pedal Poi%'er in all &spects ot Welsh GoernMent'S ActiN'e Trai'el plans. Continuing to raise ihe profile and aii?reness of Pedal Poii'er Ihroughout the Lit), and ihe surrounding arca ImproN'c thc qualiti. of our prcscncc at thc Bal" sitc to promotc inclusiN'c cC]ing and thc iN"ork of the charity Building and extending links li iih adjaceni communilies in particular BAML and disadanlaged/Ieast likeli. to cl'cle community. groups Continuing lo seek a iarielN" of sources ol funding to ensure the financial stabilil), of the charily supporting Lore staff Continuing to strengihen our existing partnerships and seeking neil, partners Extcnding and improving our markcting and social mcdia Strate.: including rcvicTh'ing markcting materials Continuing improi'emenl ofour financial eificath" Scck-ing ncm. and innoi'atiN"c M"a)-s to incrrdsc tunding strcdms and 50 improi'c our financial sccurity. Continuing to improve the efficienc). of all 0rational areas. internal structures and staff training to improvc our customcr provision Stclure1 governance and management Legal status Friends of Pedal Poii'er l.td. is a compan!. limited b). guarantee. registered number 4J73456. and is goi'erned bl, its Mcmorandum and Articlcs of Association and a charits" rcgistcrcd Ni"ith thc Charitj. Commission, numbcr 1092)04. Recruitmellt and appointment of new trustees "I'he "I ruslees i.0 are appointed bN ihe Members ai ihe Annual General Meeiing are recruiied through local adi'ertisements, organisaiions ii'ith ii-hom the Charits. iiork-s and interesied members of the public. Neiir trustees arc providcd i%'"ith induction and continuing training b!" thc Dircctor and 5tatT. Training includcs rcSnsIb]I]tICS of trustees and details of the Charits, and its hislon,. Page 10
Friends of Pedal Power Project Ltd Trustees, Report Organlsatlonal structure -l-he Charill. is Lonlrolled b!, the -l-rusitts "hO are all i"olunth. membe. l-he da)". to da). adminislralion is delegaied lo ihe Director and supw)rt staff. The Director. Sian Donovan. reEx)rts to ihe Trustees al their regular mcctings throughout thc vcar. Thc Trustccs hai-c rccogniscd thc major risk5 facing thc Charl. as loss of tunding and injurics sustaincd by those hiring the bikes. especialli" Ihose ii.iih disabililies. "l o miligaie ihe financial loss a reseriwes policN. has been set up. To mitioate the risk of injuTh' each hirer sions a set ot terms and condiiions and is gii'en instructions bv Ihe Charily. Reference and Admillistrative Detai15 Charit) Registration Number: 1092)04 Company Registration Number: 04373456 "I"he Lharili" is incoryx)rakd in Wales. Registered OtTice'. Ponicanna carai.an Park Oft Dogo Street CarditT CFII 9JJ Independent Examiner: HSJ Accounlants Ltd Sei ern I louse Hazell Drii"e South -aleS NPI 0 81.-I' Pagell
Friends of Pedal Power Project Ltd Trustees, Report Trustees and offieers Thc trustccs and officcrs scrN'ing durin2 thc )'car and sincc thc 1.car cnd m.crc a5 folloM'5: Trustees: Mr P T Harding Ms N Brighimore MrSPCo Mr F. J F.1 ans (resigned 5 March 20251 Mr P A P Ruddock Mr M Eamcs Mr M J Walsh Mrs S G Williams Mr A Hendrickson Mrs S M Johnson Mr R L Holmes (apw)inied 14 January 2025} Secretary: Ms S T Donoi-an (resigned 12 April 2025) Mr S A H Famfield (apInted l June 2024} The annual rewrt ivas approN'ed b!- the trustees of the charitv on I l October 2025 and signed on its behalt bs'= Mr P T Harding Trustee Page 12
Friends of Pedal Power Project Ltd Statement of Trustees, Responsibilities The Irusiees (Mho are also ihe directors of Friends of Pedal Poiier PmjeLI for the purposes ofcompanv laii) are responsible tor preparing Ihe trusiees, repon and the tinancial statements in accordance iirith applicable lai4' and Unitcd Kingdom Accuunting Standard5 {Unitcd Kingdom Gcncrall!. Acccptcd Accounting Practicc). including FRS 102 "The Financial ReFKbning Stsndard applicable in the UK and Republic of Ireland" Company laii requires the trusiees to prepare financial staiements for each financial > ear. Under compan). la the trustees musi not approi'e the tinancial Statements unless th. are satisfied that theN' giN'e a tn]e and fair &'ie-. of thL Statc of atlairs of thc Lharitablc Lompani" and of thc inLoming rcsourLL"S appliLation of rLsourLCS. including its income and expenditure. of the charitable compan}. for that period. In preparing these financial slalements, the trustees are required io= select suitable accounting ]x)licies and appl! them consistentlv- obseTh'e the methods and principles in the Charities SORP: makc judgcmcnts. and cstimatC5 that arc rca50nablc and prudcnt: state 'hether applicable accounting standards. comprising FRS 102 hai'e been followed. subject to an). material departures disilosed and e.xplained in the financial S*Ments. and prepare the financial statements on the 20ing concern basis unless il is inappropriate to presume that the charlble companv H"ill coniinue in business. Thc trustccs arc rcswnsiblc for kccpin2 propcr accounting rccords that can disclosc ii'ith rcasonablc accurac!, at any time the financial position of the charitable compan!. and enable Ihem to ensure that the financial statements comply ii'ith the Companies .4ct 2006. The!" are also reSnSIble for 5afegiiarding the &ssets of the charitable Compan and hence for taking reasonable SLeps for the prei'eniion and deieciion or rraud and c)Iher irre?ularilies. Thc trustccs rcsponsiblc for thc maintcnancc and intcgriti" of thc corw)ratc fInCIal infuiination included on Ihe charitable companN s ii'ebsiie. l.egislaiion goi'erning the preparation and dissemination of financial statcmcnts may diftcr trom Icgislation in othcr jurisdictions. Page 13
Friends of Pedal Power Project Ltd Independent Examiner's Report to the trustees of Friends of Pedal Power Project Ltd {'the Company,) I report to the chariti. trustees on m}. examinalion of the accounts of the Compan). for the Near ended 31 March 2025. Responsibilities and basis of report s ihe Lharit) S Irusiees ol the Compan!. (and also its directors for the purposes of compan>. lai4') vou are re8rx)n£ible tor the preparation ot. the accounts in accordance ii.ith the requirements of the Companies Act 2006 I'thc 2006 Act.). HaN'ing satisficd mTr'sclt that thc account5 of thc Compan!. arc not rcquircd to bc auditcd undcr Part 16 of thc 2006 Act and are eligible lor independenl e.iamination. I rep)rt in respeci of m!. e.xaminalion of N'our charil), s accounts as carricd out undcr scction 14) of thc Charitics Act 2011 ("thc 2011 Act-'l. In canTr'in£ out my examination I have folloTh'ed ihe Directions giN'en b). Ihe ChariTh' Commission under section 14i15)(b) of the 2011 Act. Indepelldent examiner'5 Statement Since the Compan) s gross income exceeded £2iO.000 l'our examiner musi be a member of a body lisled in seclion 145 of the 201 l Act. I confirn) thai l am qualified to undertake the eiamination because l am a member of ACCA, w'hich is onc ot-thc li5tcd bodics. I hav"c complctcd m)." cxInatI0n. I confirm that no mattcrs havc comc to attcntion in conncction M'ith thc examination gii'ing me cause io beliei'e: accounting records ivere not kept in respect of Friends of Pedal Poii'er Project Ltd as required by section 386 of the 2006 Act; or 2. the accounts do not accord ii'ith those records: or 3. thc accounts do not complN- ii-ith thc accounting rcquircmcnls of scction 396 of thc 2006 Act othcr than an). requirement thai the accounts gii'e a "true and fair i'ieiv 'hICh is not a matter considered as part of an independent eAaminaiion- or 4. the accounts have not been prepared in accordance ii'ith the methods and principles of the Statement ot Rccummcndcd Practicc for accounting and rcwrting b)" charitics [applicablc to Lharitics prcparing thcir accounts in accordance M'ith the Financial RerK)ning Stsndard applicable in the UK and Republic of Ireland11.-RS 102)]. I havc no conccrns and hai'c comc across no othcr mattcrs in conncction iNith thc cxamination to hICh attcntion should be draiNn in this report in order io enable a proper understanding of the accounts to be reached. Mr Andrew. Ilill l.-CCA ACA DChA BI--P ACCA Sei'ern House Hazell Drive Neivport South [aleS NPIO 8F'Y 14 October 2025 Page 14
Friends of Pedal Power Project Ltd Statement of Financial Activities for the Year Ended 31 March 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds General Restricted funds Total 2025 Note Income and Endowments from: Donalions and legaiies Charitablc actiN'itics Other trading actii'ities Investment income 62.145 62.145 420.5J4 179,654 1,650 46.250 179.6)4 1.6iO -l-ou1 Income 617.7)) 46.250 663.98J Expenditure on: Raising lunds Charitablc actiN'itiC5 (108.3141 (544.814) (108.J14} 1665.442) {120.628} Total F.xpenditure (6i).128) (120.6281 (77).7561 Net expendilure lJ5.)95) 174.378) 1109.773} Nct movcmcnt in fund5 {35.395) {74,378) (109,773) Reconciliation of funds Tolal funds broughi toni'ard 219.189 707.036 926.225 .1 otal funds carried fornl'ard 19 18J.794 6J2.658 816.452 The notes on pages 19 to JO fonn an integral part of these financial statements. Page li
Friends of Pedal Power Project Ltd Statement of Financial Activities for the Year Ended 31 March 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds General Restricted funds Total 2024 Note Income and Endowments from: Donalions and legaiies Charitablc actiN'itics Other trading actii'ities Investment income J88.577 121.i84 403 196,999 585.576 121,584 403 -l-ou1 Income i47.70J 196.999 744.702 Expenditure on: Raising lunds Charitablc actiN'itiC5 (90.6281 (419.648) {90.628} 1545.807) {126.li9} Total F.xpenditure (510.276) (126.159) (636.4351 Net income Transfcts l'ccn funds 37.427 112.898 70.840 (112.898} 108.267 Net moi'ement in funds l iO.325 {42:058) 108,267 Reconciliation of funds "l othl funds broughi lonvard 68.863 749.094 817.957 Total funds carricd fonward 19 ?19.188 707.036 926.224 All of the Charl s actiTrities derii-e trom continuing operations during the akniTe tti'o periods. 'I'he funds breakdoi%n lor 2024 is shomn in noie 19. The notes on pages 19 to JO fonn an integral part of these financial statements. Page 16
Friends of Pedal Power Project Ltd (Registration number: 04373456) Balance Sheet as at 31 March 2025 2025 2024 Note Fixed assets Tangible assets 14 690,i87 753,253 Current assets Debtors Cash at bank and in hand 15 16 -35.207 163.222 l i4.099 16).612 198.429 Creditors: Amounts falling due within one year 17 {37:747) {25,4i8) Ne¢ ¢urren¢ assets l ? j.865 172.971 Lyet assets 816.452 926.224 Funds of the eharity: Restricted income funds Restricted lunds 632,658 707.OJ6 Unrestricted income funds Unrestricted funds 183.794 219,188 Total fund5 19 816.452 926.224 For thc financial vcar cnding 31 March 202) thc charity Mas cntitlcd to cxcmption from audit undcr scction 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities-. The memt)ers hai'e not required the chariis- to obtain an audit of its accounts for the year in question in accordanLc ii'ith scclion 476= The directors acknoii'ledge their re5tK)n5ibilities for compl}'ing ii.ith the requirements of the Act with respect to accounting records and the preparaiion ofaccounts. Thc financial statcmcnts on pagcs li to 30 11.crc approvcd b). thc trustccs, and authoriscd for issuc on I I October 202) and signed on their behalf bv: Mr P T Harding Trustee Mrsèco Trusiee The notes on pages 19 to JO fonn an integral part of these financial statements. Page 17
Friends of Pedal Power Project Ltd Statement of Cash Flows for the Year Ended 31 March 2025 2025 2024 Note Cash flows from operating activities Net cash lexpenditure)/income {109:773) 108,267 Adjustments to cash flow's from noll-cash items Depreciation Ini'cstmcnt incomc 62.666 {1.650} 44.873 14031 148.757) l i2.7J9 Working capital Adjustments Decreasel(increase) in debtors Increasel(decrease) in creditors 15 5,695 12.289 (10.266) 17.902} 17 Nct ch floivs from opcrating activitics {JO.77J) li4.571 Cash flows from investing activities Interest receil'able and similar income Purchase olthngible fixed assets 1.650 403 {48,280} 14 Net cash floivs trom ini'esting actii'ities 1.6iO {47.877) Net (decreasellincrease in cash and cash equivalents 129.123) 86.694 Cash and cash cquiN'alcnts at l April 163.222 76.528 Cash and cash equivalenLs at 31 March 134.099 163,222 All of the cash t10'S are derived from continuing operaiions during the aboi'e Mo periods. The notes on pages 19 to JO fonn an integral part of these financial statements. Page 18
Friends of Pedal Power Project Ltd Notes to the Financial Statements for the Year Ended 31 March 2025 I Charity status Thc Chlty. is limitcd guarantcc. incorporatcd in Ih-alck and con5cqucntl)" doc5 not havc sharc capital. Each f the trustees is liable to contribute an amount not exceeding £1 toii-ards the assets of the Charl in the event ot liquidation. The address of its registered oftice is= Ponlcanna CaraN'an Park 011 Dogo Street Cardirr CFII 9JJ 'l-hese financial statements Ns'ere auihorised for issue b)" the iruslees on I l October 2025. 2 Aeeounting policies Summary of significant accounting policies and key accounting estimates 'I'he prinLipal accounting policies applied in ihe preparaiion of ihese financial suiemenls are sel oui beloiN'. These policies hai"e been consisientl). applied to all the l-ears presenied. unless otheN"ise stated. Statemenl of compliance Thc tinancial statcmcnts hai'c bccn prcparcd in accordancc ivith Accounting and Rcporting bN' C.haritics'. Sialement of Recommended PraLiice (applicable chariiies preparing iheir accounts in accordance ii'ith the Financial ReEK)rting Standard applicable in the UK and Republic ot Ireland (FRS 102)) {issued in Octobei. 2019) (Charities SORP (FRS 102)l. the Financial Rerx)rting Stsndard applicable in the UK and Republic of Ireland IFRS 1021 and thc Companics Act 2006. Basis of preparation l. riends of Pedal Po"er Projeci Lid meets ihe definilion of a public benefil enlil!. under l--RS 102. Assets and liabilities are initiallN' recoonised at historical cost or trdnsaction N'alue unless otherliise stated in the releN'ant accounting poliL)' notC5. Going concern The trustees consider that there are no material uncertainties aknut the chariti s abilits, to continue as a going concLrn nor significant arc of unccrtaints" that affcct thc cam.ing N"aluc of hcld b). thL charity". Ineome and endowments Donalions and legacies Membership and volunthry income including donations and legacies is recognised 'here there is entitlement, Lcrtainty. of rcccipt thc amount can bc mcu[cd m.ith sufficicnt rcliabil1. Grants receivable Cirants are accounted for in the tinancial }-edr to M-hich theJ- relate. CJrants receiN'ed to tinance the cost of fixed a5SCts arc rccogniscd as rcstrictcd funds and uscd to financc thc annual dcprcciation chargc. Page 19
Friends of Pedal Power Project Ltd Notes to the Financial Statements for the Year Ended 31 March 2025 Deferred incon Delerred income represents amounts receI"ed for fulure periods and is released incoming resources in ihe period t(Trr ii'hich. it has been receii'ed. Such income is onl)" deferred ii"hen. the donor specities that the donation must unl). bc uscd in futurc accounting pcriod5- or thc donor ha5 imw)scd condition5 which must bL mct bLforL" the charih. has uncondiiional entiilement. Other trading uclivities Income deriwed from ei'ents is recoonised as eamed {Ihal is. as the relaied goods or services are proiiided). The monies receii'ed Irom the sale ot'bic!"cles are re-ini'ested into neil" bikes or spare parts. Churilable aelivilies Income from charithble actii'ities includes income recognised as eamed (as the related goods or sen'ices are proi'idcdl undcr Lontract. Oiher income Incomino resources trom reclaims are included in the statement of financial actiN"'ities at the same time as the gift to i*hich the). relaie. Expenditure Liabilities are recognised as soon as there is a le?al or constructive obligation committing the charity to the expenditure. All expendilure is accounted lor on an accruals basis and has been classified under headings ihal aggregate all costs relaied to the categon.. Costs of generating funds are the costs of trading for fundrnising purtM)ses. Charitable expenditure comprises those costs incurred b!. the charits. in the delivery. of its activities and seTh'ices for its bcncticiarics. It includcs both costs that can bc allocatcd dircctli- to such actiN'itics and thosc costs of an indirect naiure necessary. io support them. Support costs Support costs include central tunctions and hai'e been allocated to activiti. cost categories on a basis consistent 'ith ihe use of resouries. for example. allocaiing property" costs b) floor areas. or per capil& sthlT costs by ihe time spent and other costs bv their usage. Irrecoi'erible V AT IrrcLowcrablc VAT is chargcd against thc catcgorv of rcsourccs cipcndcd for ii.hich it wa5 incurrcd. Support eosts Support costs include ceniral funclions and hai'e been allocated to activity. cosl categories on a basis consislent "ith thc usc of rc50urccs: tor cxamplc: allocating propcrty costs bN. floor arcas: or pcr capita: Staff costs b). thc lime spent and oiher costs by. Iheir usage. Governance costs CJoTrernance costs include costs ot the preparation and eiamination of the statutoTr' accounts. the costs of trustee meetings and the cost of an). legal adiwice to fftisiees on goi'emance or conslitulional matters. Taxation The company is a registered charity and all its income is primary pur]x)se it is. theretore: exempt trom taxation. Page 20
Friends of Pedal Power Project Ltd Notes to the Financial Statements for the Year Ended 31 March 2025 Tangible fixed assets Indii'idual fixcd asscts Losting £ I,000. or morc arc initiall!. rccordcd at cost. Depreciation and amorti$a¢ion Depreciation is proi'ided on thngible fixed asseis so as io rite OIT the cosi or i.alualion, less an). estimaled residual I'alue, oi'er their expected usetul economic lite as folloM's= A55et class Freehold propeth. Bikes & bike storage Motor i ehiules Depreciation method and rate 20/0 on cost I/0 to 3J % on cost 250/0 on cosl Trade debtors Trade debtors are amounts due from customers for merchandise sold or seTrices perfomed in the ordinary coursc of busincss. Tradc dcbtors rccogni5cd Initiall at thc transaction pricc. ThJ" arc 5ub5cqucntly mcasurcd at Ortiscd cost using the effeciive interest meihod. less proi'ision for impainneni. A proN'ision for the impairnient of trade dcbtots is cstabli5hcd ii.hcn thcrc is objcctii'c ci'idcncc that thc charL- m.ill noi bc ablc to collcct all amounts duc according io the original iem)s of the receii ables. Cash and cash equivalents Cash and cash equi&'alent8 comprise cash on hand and call derx)siis. and other short-term highlN, liquid investments that are readilN convertible io a knOn amount of cash and are subjecl to an insignificant risk or change in value. Trade creditors Tradc crcditor5 arc obligations to pa)" for goods or 5crvicc5 that haic bccn acquircd in thc Ordin£. coursc of business from suppliers. Accounts pai'able are classified as curreni liabiliiies if the charity does not have an unconditional riuht. at thc cnd of thc rcwrting pcriod. to dcfcr scttlcmcnt of thc crcditor for at Icast ttN'clN'c months after the reporting date. If there is an unconditional right to defer settlemeni for at least twelN'e months aftcr thc rcwrting datc: thcTr' arc prcscntcd as non-currcnt liabilitiC5. Trade creditor5 are recognised initiall}" at the transaction price and subsequentlv measured at amortised cost using the etreciii'e interest meihod. Fund Structure lJnrestricted income funds are general funds that are ai"ailable for use at the trustees discretion in furtherance of the objectiNes of the ihariiN". Restricted income ndS are those donated for use in a particular area or for specific purposes, the use of which is restricted to ihat area or purpose. Pensions and other post retirement obligations The charitN' operates a detined contribution pension scheme. Conlribulions are charged in the slatement of rinancial activities as thel, become pa! able in accordance li iih ihe rules ofihe scheme. Page21
Friends of Pedal Power Project Ltd Notes to the Financial Statements for the Year Ended 31 March 2025 3 Income from donations and legaeies Unrestricted funds General Total 2025 Total 2024 Donations kmd legaLies- Donations from individuals 62.14) 62.145 37.139 62.145 62.145 4 lllcome from charitable activities Unrestri¢¢ed fund5 General Restricted funds Total 2025 Total 2024 Cyclc and Mcmbcr5hip 374.284 46.2iO 420.i34 585,576 Page 22
Friends of Pedal Power Project Ltd Notes to the Financial Statements for the Year Ended 31 March 2025 UDre5tricted funds General Restricted runds Total 2025 Total 2024 Tt7ining Bikc Scrvicing and rcpair5 Cardily Citv Council Planet Passionaie See C)'Lling DitTerentl)' Big Lottery - Better BN. Bike Crane Foundaiion Motsbilit). National Grid Postcode Lotter! Community l.-und Principality" Community. Fund Membership and session fees Hire income Gamorgan Volunw). Services (CJVS) Sion Mullan Fund 27.718 16.794 27.718 16.794 66,848 20.402 18.187 i7.002 4.000 60.000 98.967 36.848 30.000 4,032 207.001 i 0.000 194.000 194.000 25.000 10.000 15.274 15274 8,557 62,428 12.iOO 12,500 3.750 374.284 46.2iO 420.i34 585,576 5 Income from other trading aetivities Unrestrieted funds Gelleral Total fullds Total 2024 Trading income; Sales ofgoods and sm ices 179.6)4 179.654 121.584 179.6)4 179.654 121.584 6 Investment income Unrestricted funds General Total 2025 Total 2024 Intcrcst rcccii'ablc and similar incomc. Interest receivable on bank detM)Sits 1.6iO 1.650 403 Page 23
Friends of Pedal Power Project Ltd Notes to the Financial Statements for the Year Ended 31 March 2025 7 Expenditure on raising funds ) Costs of trading aetivities Unrestrieted funds General Total Total 2024 Note Costs of goods sold 108.J14 108.314 90.628 108.314 108.314 90,628 8 Expenditure on charitable aetivities Unrestricted funds General Restricted funds Total 2025 Total 2024 Note Cycle and Membership Staff costs Allocaied support costs 140.142 29.296 169.438 489.010 137.883 400.848 397.678 91.332 2,412 4.)82 2,412 4.582 2,251 4,825 Goi'emance costs i44.814 120.628 66i.442 545.807 Page 24
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Friends of Pedal Power Project Ltd Notes to the Financial Statements for the Year Ended 31 March 2025 l O Net ineomingloutgoing resourees Nct (outgoingllincoming rc50urccs for thc vcar includc= 2025 2024 Dcprcciation of tixcd asscts 62.666 44,87) I l Trustees remuneration and expenses No trustees, nor an!, persons connected ii'ith them. hai'e Ce11.Cd an). remuneration from the chariti, during the ycar. No tn]stees have received any reimbursed expenses or an), other benefits from the Charl during the ear. 12 Staff costs 'I'he aggregate payroll costs Nvere as follows: 2025 2024 Staff costs during the year were: Wages and salarie5 Social security costs Pension costs 44i.049 21.848 367,678 15.219 17.951 489.010 400,848 The monihlTr aN'erage number of persons (including senior management I leadership team) eMploe bv the charitv during thc vcar cxprcsscd as tull timc cquii"alcnts m.as a5 tolloii"s= 2025 2024 Directors & tinance Cycle & Cafe aciiviiies 22 27 2) No emplo>'ee received emoluments of more than £60.000 during the i'rar. 'l-he total emplo)'ee benefits ofthe kei. managemeni personnel olihe charil). Ivere £130.911 (2024 - £135,262). Page 26
Friends of Pedal Power Project Ltd Notes to the Financial Statements for the Year Ended 31 March 2025 13 Taxation Thc charity is a rcgi5tcrcd charity. and 15 thcrcforc cxcmpt from t&Nation. 14 Tallgible fixed assets Lgnd and buildings equipment i¥qotor vehicles Total Cost At l April 2024 839.797 234.171 16.823 1.090.791 At 31 March 202) 839.797 2i4.171 16.823 1,090,791 Depreciation At l April 2024 Charge tor the yedr 190.2)2 16.796 lJO.46J 4).870 337.5J8 62.666 At 31 March 2025 207.048 176.3J3 400,204 Net book value At 31 March 202) 632.749 i7.838 690,587 Ai 31 March 2024 649.i4i 10.).708 75.7.253 15 Debtors 2025 2024 Tradc dcbtors Prepa)'ment8 Other debiors 13.688 22.468 ,544 14281 4,030 8.709 29.)13 35.207 16 Cash and cash equivalents 2025 2024 Cash on hand Cash at bank 16,781 117.318 10,113 153.109 134.099 163,222 Page 27
Friends of Pedal Power Project Ltd Notes to the Financial Statements for the Year Ended 31 March 2025 17 Creditors: amounts falling due within one year 2025 2024 "I rade creditors Othcr taxation social 5ccurity VAT grant repal'able Oiher creditors Accruals 8.817 14,048 3,341 4.914 2.950 2.950 37.747 25,458 18 Pension and other schemes Defined contribution pension scheme Thc charits, opcratC5 a dcfincd contribution pcn5ion schcmc. Thc pcnsion cost chargc for thc ycar rcprcscnts contribulions pa)'able b! the charit!. io ihe scheme and amOUnd 10 £22.113 (2024 - £17.9) I l. 19 Fullds Balance at I April 2024 Incoming ources Resources expended Balanee at 31 March 2025 Unrestricted funds General Gcncral fund 219.188 617.733 {653.128) 183.793 Restricted funds Big Lotiery fund Cdiff Council - Capital Grant Welsh CJOI'ernment - Communities l.'acilities AcliTr"ities Programme Glamorgan Voluntar% Service Big Lotiery. Ejelter B). Bike Cardiff County Council Sion Mullan Foundation 202.615 75.509 (6,000) (2.2J2) 196.615 73.277 371.330 (8,564) 112.500) {i7.582) {iO:000) (3:750} 362,766 12.iOO 57.582 3.7iO Total restrieted funds 707.OJ6 46.250 {120.628) 6J2.658 Total funds 926.224 663.983 {773.7i6) 816.451 Page 28
Friends of Pedal Power Project Ltd Notes to the Financial Statements for the Year Ended 31 March 2025 Balance at 31 March 2024 Balanee at I April 2023 Incoming resources Resourees expended Transfers Unrestricted funds General General fund 68.863 547.703 (il 0.276) 112.898 219,188 Restricted Big Lottery fid Cardiff Council Capital Grant Wclsh Goi'crnmcnt - Communities l.acililies ACtI.1t]eS Prooramme Glamorgan Voluntarv ScrN"icc See C)'cling Differentlj. Planet Passionaie The Crane l.oundation Big Lottcry - Bcttcr Bv Bikc Cardity County Council 208.615 (6.000) 202,61 i 77.741 {2a321 75.509 379.98) {8.65i) 371,330 3.436 13.436) (79.462) 79.317 60.000 (59.855) (4.000) (4.032) (41.3851 4.000 4.032 98.967 30.000 57.582 (30.000) Total restrieted funds 749.094 196.999 (126.159) (112.898} 707.OJ6 Total funds 817.957 744.702 (636.435) 926.224 The specific purposes for 'hICh the funds are to be applied are as folloH"'s: See Cy"cling Ditferentl). is a Welsh CJOI"emment funded project enabling Pedal PoM"er to purchase and integrate e-bikes. e-trikes and e-iargo bikes inio our e.xisling lleei in order io further support our proillision of inclusive access to the benefits ot c)'cling. 20 Analysis of net assets between funds Unrestricted funds General Total funds at 31 March 2025 Restricted funds 'l-angible fixed assets CutTcnt asscts Currcnt liabilitics 57.929 163.612 137.747} 632.658 690.587 163.612 {37.747} .1 otal net assets 18).794 6J2.658 816.452 Page 29
Friends of Pedal Power Project Ltd Notes to the Financial Statements for the Year Ended 31 March 2025 Unrestricted funds CeDerg1 Total funds at 31 March 2024 Restricted funds Tangible fixed assets CutTLnt scts Current liabilities 10).708 140.9J8 {2i:4i8} 649.i45 i7.491 753.25J 198.429 {25,4i8) Total net assets 219.188 707.036 926.224 21 Analy515 of net fund5 At l April 2024 Financing cash flows At 31 Mareh 2025 Cash at bank and in hand 163.222 (29.123) 134.099 Nel debt 16J.222 A¢ l .4pril 2023 129.1231 l J4.099 .41 31 Mareh 2024 Financing cash flow5 Cash at bank and in hand 76.528 86.693 163.221 Nct dcbt 76.528 86.693 163.221 22 Related party transactions During the ear the charit}, made the folloil'ing related path. transactions= Glamorgan Voluntary Seryices (GVS) (Shared Trustee) During the l'ear the charily has receii'ed £12.iOO of grani funding from ihis relad part). Ai the balance sheet date the amount due toltrom Cilamoroan VoluntaTr" SeThyjces ICJVSI £Nil {2024 - £Nil)- Page 30