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2021-03-31-accounts

Charity Registration No. 01115789

Company Registration No. 1766411 (England and Wales)

London Cycling Campaign

(A Company Limited by Guarantee)

Trustees’ Report and Consolidated Financial Statements

For The Year Ended 31 March 2021

CONTENTS

Page
Administrative Details 1
Board of Trustees 2
Our Vision, Mission, Values and Work 3
Structure, Governance and Management 4-5
Public Benefit Statement 5-6
Chair’s Report 6-7
Trustees’ Report 8-19
Independent Auditor’s Report 20-22
Consolidated Statement of Financial Activities 23
(Including Income and Expenditure Account)
Consolidated Balance Sheet 24
Charity Balance Sheet 25
Consolidated Statement of Cash Flows 26
Notes Forming Part of the Financial Statements 27-42

LONDON CYCLING CAMPAIGN, A COMPANY LIMITED BY GUARANTEE – COMPANY NUMBER 01766411 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Administrative Details

Registered Company Number 1766411
Registered Charity Number 1115789
VAT registration number 213 7639 12
Principal & Registered Office Unit 201, Metropolitan Wharf
70 Wapping Wall
London
E1W 3SS
Auditors UHY Kent LLP t/a UHY Hacker Young
Thames House
Roman Square
Sittingbourne
Kent
ME10 4BJ
Solicitors Bates, Wells & Braithwaite
10 Queen Street Place
London
EC4R 1BE
Bankers Unity Trust Bank plc
Four Brindleyplace
Birmingham
B1 2JB
Chief Executive Ashok Sinha
Company Secretary Ashok Sinha
Charity Correspondent Ashok Sinha

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LONDON CYCLING CAMPAIGN, A COMPANY LIMITED BY GUARANTEE – COMPANY NUMBER 01766411 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Board of Trustees

Trustees serving at 31 March 2021

Trustee Date started - End of current term Trustee Role
Pearl Ahrens October 2019 – October 2022
Aidan Chisholm October 2019 – October 2022
Simon Clark October 2017 – October 2021 Treasurer from October 2017
Sylvia Gauthereau October 2020 – October 2023
James Heath October 2017 – October 2022
Stuart Kightley October 2019 – October 2022
Eilidh Murray October 2019 – October 2022
Terry Patterson October 2015 – October 2022 Chair from October 2017
Kris Sangani October 2020 – October 2023
Sarah Strong October 2019 – October 2022
Christian Wolmar October 2016 – October 2023

Simon Clark was co-opted to serve as a Trustees for a further year from October 2020 to October 2021.

Business Committee

Members serving during the year

Simon Clark Treasurer from October 2017 James Heath Chair of the Committee Terry Patterson Chair of the Board Pearl Ahrens Co-chair of Policy Forum

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LONDON CYCLING CAMPAIGN, A COMPANY LIMITED BY GUARANTEE – COMPANY NUMBER 01766411 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Our Vision

London Cycling Campaign’s vision for London is a city that is a healthier, greener and happier place to live, where anyone who wants to cycle can do so safely and enjoyably, on a pollution-free, zero carbon road system.

Our Mission

London Cycling Campaign’s mission is to:

Our Values

We believe in:

How We Pursue our Charitable Objectives

Our public benefit statement and charitable objects are reproduced below. The key determinant of the outcomes the charity seeks is whether government at all levels makes provision for cycling on London’s roads that is safe, sufficient and convenient enough for cycling to become the natural choice for people of ages and abilities for their everyday journeys.

As a consequence, the main way in which the charity pursues its charitable objectives is to engage and inform our members and the public of the actions needed from decision-makers, mobilising public opinion to press for these actions to be taken. The work is undertaken by the central staff team in partnership with the charity’s volunteers across our 30 borough-based groups.

In support of this, but also for its own direct benefits, we also work with community organisations, businesses, local authorities, the education and public sectors to help and support people to start cycling, or cycle more. This spans advice, public engagement events, organised rides, cycle maintenance events and cycle loan schemes. Again, much of this work is conducted by our borough groups, advised and supported as needed by the staff team.

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LONDON CYCLING CAMPAIGN, A COMPANY LIMITED BY GUARANTEE – COMPANY NUMBER 01766411 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Structure, Governance and Management

London Cycling Campaign (LCC) is a charitable company, limited by guarantee and was established by the coalescence of a number of local London grass root cycling campaign groups into a single entity in 1978. All LCC members are members of the company. The governing document of LCC is the Memorandum and Articles of Association passed at an EGM of the members on 4 July 2006 and amended at the AGM on 16 October 2007. (Further amendments were made at the AGMs in 2012, 2014 and 2019.) LCC became a registered charity on 14 August 2006. The Charity has a wholly owned subsidiary, London Cycling Campaign Trading Limited (a private limited company) whose directors are the appointed by the trustees (the roles are currently held by the charity’s Treasurer and CEO).

LCC is governed by a Board of Trustees. There are ten elected Trustees, who are elected by the membership at the Annual General Meeting. Newly elected Trustees will normally serve for a three year period. Under the Articles of Association, the Board can co-opt three additional Trustees. There is currently one co-opted Trustee on the Board. Co-opted Trustees serve until the first AGM after their co-option. (The Trustees are also Directors for the purposes of the Companies Act 2006.)

Nominations for Trustee positions are sought through outreach to the LCC membership, targeted advertising and recommendation. The election is normally conducted via electronic voting in the run up to, and physical voting at, the Annual General Meeting. New Trustees receive appropriate induction materials and, as a general rule, have induction meetings with staff.

Because of the Government’s Covid-19 restrictions, and taking into account Charity Commission advice regarding the conduct of AGMs during such restrictions, LCC’s 2020 AGM was held online. Only essential business was undertaken with no voting in the Board elections on the day.

The Board agrees the overall strategic aims of the organisation, based on recommendations from the CEO. The CEO has delegated authority to run the organisation in pursuit of these aims, within specified parameters and with certain authorities reserved to the Board (e.g. budget approval), and tables a full report to each Board meeting. This reporting, in conjunction with the work of trustee-staff committees, is the main way in which the Board scrutinises the activities of the staff team in particular, and the whole organisation in general, to ensure compliance with these aims and assess the performance of the charity. The Board is also responsible for ensuring that the Charity meets all its legal obligations, with day-to-day compliance delegated to the CEO, and also for addressing governance matters and overseeing the charity’s internal democracy. As part of their delegated authorities, the CEO is responsible for all external relations (directly or through the staff team).

As at 31 March 2021 the Board subcommittees (and bodies that report to the Board) were as follows:

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LONDON CYCLING CAMPAIGN, A COMPANY LIMITED BY GUARANTEE – COMPANY NUMBER 01766411 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Structure, Governance and Management (continued)

The CEO manages a team of staff that numbered 18 at year end (the number fluctuates up and down during the year according to project work). Prior to Covid-19 lockdown there was also a core group of about ten part time office volunteers. This team is augmented from time to time with freelance staff working on specific activities.

An important role for the charity is to support groups of members in the London boroughs. These are known as the LCC Groups, currently consisting of Borough-based activist groups. Each Borough Group is legally a part of the charity but operates with delegated authority within its own borough, subject to compliance with LCC policies and procedures. They are governed by their own committees, organise their own activities, fundraise for their own projects and publish their own newsletters. For this reason, their funds are shown in the accounts as restricted funds.

Public Benefit Statement

The trustees of the charity comply with the Charity Commission’s general guidance on public benefit when reviewing aims and objectives and in planning future activities.

As set out in our Memorandum and Articles of Association, LCC’s Charitable Objects are:

(vi) the advancement of education

by whatever means the Board think fit, including the provision of cycling facilities, services, training, educational activities, and lobbying and campaigning in matters relating to cycling and other forms of transport.

The entirety of LCC‘s work is in pursuit of these aims. Direct benefits accrue not just to LCC members but also to the public as a whole as a result of LCC’s advocacy on behalf of cyclists and cycling.

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LONDON CYCLING CAMPAIGN, A COMPANY LIMITED BY GUARANTEE – COMPANY NUMBER 01766411 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Public Benefit Statement (continued)

Membership of LCC is open to everyone who supports our aims, with varying membership subscription rates depending on individual circumstances (including a concessionary rate for the retired or unemployed). Membership affords access to specific additional benefits (e.g. LCC’s quarterly magazine, London Cyclist) as well as participation in LCC’s democratic decision-making processes.

CHAIR’S REPORT

London Cycling Campaign has weathered the extraordinary challenges of the last year. And more - it has grown in reach, strengthened its campaigning base and is now not only more financially secure but also able to offer a vision that Londoners are increasingly buying into. For these achievements I must thank so many people.

Firstly I deeply appreciate the dedication and passion that trustees and members bring to the LCC Board and subcommittees. These small but focussed teams bring energy and scrutiny to all the work of LCC - whether it is budgets, campaigns, policy or strategy.

I’m grateful to every member who has contributed to a consultation, taken part in debate, helped our new Cycling Buddies groups, run a Dr Bike or even - at last! - held a ride.

Thank you to all who have set up Zoom meetings, organised local groups and managed all the behind the scenes admin- it all takes time and makes such a difference.

And many thanks to a dedicated and hardworking staff team who have been so effective while working remotely.

We have a wonderful Patrons Network who are incredibly generous and supportive - thank you for all your assistance in some key strategic projects.

I owe a huge debt of gratitude to Dr Ashok Sinha, our CEO. Without his committed and visionary leadership LCC would be a shadow of itself. His integrity, knowledge and strategic ability over a decade has been critical to our success. Thank you Ashok for your judgement, wisdom, advice and support.

It’s right and fitting here to pay tribute a wonderful and inspiring member and trustee, Alastair Hanton (1926-2021) – what a legacy he leaves the active travel community. And what a legend to live up to and follow in his path.

It is such a blow to lose someone like Alastair. A man of dignity and wisdom, softly spoken and resilient; a truly kind and great man. It would be a significant piece of work just to study his complete legacy across

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LONDON CYCLING CAMPAIGN, A COMPANY LIMITED BY GUARANTEE – COMPANY NUMBER 01766411 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

CHAIR’S REPORT (continued)

London but especially in his beloved Dulwich and South London boroughs. I leant on his wisdom so often when I was chair of the Campaigns and Active Membership committee. After heated debate he would quietly nail it with just one simple remark. His contribution and his legacy have touched so many lives. Rest in peace Alistair – you are remembered, appreciated and missed.

Of course so many of us have lost loved ones in these difficult times and many are still suffering and unwell – we think of all our members and hope and work for the recovery ahead. As laid out in the trustees’ report it has been a terrible year of contrasts – the tragedies of Covid and the opportunities created to build a better future based upon a green and fair recovery, decarbonising our streets, and all the policies we have been working on over many years. Please do read the trustees report for an in depth analysis of our strategic direction and achievements this year. Just to single out two:

Regarding the second, we are putting together an action plan that is both robust and achievable, implementing training, and ensuring that we can measure our progress against baseline data. In common with many organisations, we have much to do to improve - a one off course is not a quick fix to a systemic problem. But it is a valid and necessary starting point. LCC will always welcome constructive criticism and support as we work though these challenges.

Thank you to all our activists and members who have worked hard to secure many campaign victories this year. Again, full details in the trustees’ report.

We can also look back with pride at the work we do as a democratic and accountable organisation, with a powerful and active membership fully involved in creating the policies and AGM motions that drive us forward. A big thank you to all our members for your participation at both local and strategic level – all the contributions you have made are making a difference to London right now.

Finally, the October AGM will be a place where I want to thank you personally, and possibly even face to face. I hope to see you there, with more exciting ideas to debate and lots to discuss and share.

Terry Patterson Chair of the Board of Trustees

26[th] July 2021

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LONDON CYCLING CAMPAIGN, A COMPANY LIMITED BY GUARANTEE – COMPANY NUMBER 01766411 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

TRUSTEES’ REPORT

1. Covid 19 – The Context for our Work in 2020-2021

The shock of Covid-19, despite the tragedies and loss, has opened the door to a transport revolution that few previously thought possible. With travel patterns permanently changed, Transport for London riding a financial crisis, and new technologies (such as micro and shared mobility) disrupting markets, the moment is ripe for radical reform.

At the same time we face a public health crisis born of sedentariness, with a variety of diseases and poor health being made much more likely by inactive lifestyles. Covid-19 has revealed the value to people’s physical and mental health of being able to cycle and walk for essential journeys, exercise and leisure, including by building resilience to disease and other stresses. The pandemic was and is a reminder of the urgent need to raise public and individual health through greater opportunities to build activity into our daily lives.

Above all we face the twin existential threats of the climate and ecological emergencies: transport is the biggest single source of London’s carbon emissions, yet this sector has proven stubbornly difficult to remediate. Unless decisive and urgent action is taken, road transport emissions in particular threaten to undermine our ability to achieve a zero carbon city. Weaning London off car-dependency and making active travel the norm by 2030 is therefore crucial to our city meeting its obligations to tackle the climate emergency .

2. A Year of Success

This was the context for the LCC’s work during the 2020-2021 financial year. Because of these pressing and interlinked transport, health and environmental issues, the relevance of our core message and vision for the future was never more sharply defined. We were successful in capitalising on this context to deliver more action to expand London’s cycling network. We were also able to grow our membership and Patrons Network, and generate more money from fundraising. This in turn has enabled us to permanently increase the number of front line staff and widen the extent of our campaigning and community work. As a result, we both protected the charity from the impacts of the pandemic and were able to scale up our impact on the ground.

In specific terms, we advocated for emergency action by London’s decision-makers to enlarge the cycling network and, when this arrived in the form of the Mayor’s Streetspace Plan, we were instrumental in supporting the subsequent successful rollout of 100 km of new, light segregation cycling track and almost 100 new Low Traffic Neighbourhoods. We also set up and ran a Cycle Buddies scheme to help new cyclists build their confidence to ride for travel or leisure, built an interactive multiplatform Covid-19/cycling advice line, and provided free or discounted LCC membership to NHS staff and care workers. In parallel with this, we were one of the first London NGOs to set up a webinar

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LONDON CYCLING CAMPAIGN, A COMPANY LIMITED BY GUARANTEE – COMPANY NUMBER 01766411 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

TRUSTEES’ REPORT (continued)

series to engage activists, specialist and decision-makers in a wide variety of topics – from transport decarbonisation to inclusivity in the community cycling sector – with a peak audience of 600.

All of this was achieved whilst almost seamlessly moving to a virtual operation with staff working and joining meetings from home and activists collaborating online.

Particular attention was paid to monitoring and guiding the activities of LCC’s local groups, to not only facilitate the virtualisation of their work but also, when government guidance permitted, to ensure that inperson activities were in compliance with such guidance, and any incidents properly managed and reported.

There were inevitably difficulties along the way. The most disruptive and challenging one concerned a revelation of unacceptable use of social media by a staff member prior to them joining LCC. This episode unavoidably caused distress, but was handled systematically and, we believe fairly, with no significant lasting damage to the reputation of the charity that we can discern. Conversely this experience, together with the lessons the charity drew from observing the Black Lives Matter movement, has led to the charity funding and embarking upon a new and wide-ranging initiative to make LCC far more representative of London’s diversity at every level. This work is now in train and will be reported on in next year’s Trustees’ Report as well as presented to members at the 2021 AGM.

The final word, before reporting on how well we met the 12 month priorities we set for ourselves this time last year, must of course be to thank and congratulate LCC’s local activists. Despite having to cope with the pressures and impacts of Covid and the lockdown in the daily lives, they redoubled their efforts to win hearts and minds in support of the Streetspace Plan at the local level. This has sometimes meant facing hostility and, unfortunately, harassment and abuse. Their endurance and positive approach has played an enormous role in seeing a huge increasing in cycling, calmer less polluted streets, and more families and children as well as commuters, taking to their cycles. As, ever, we thank and salute them.

3. Progress on LCC’s Key Priorities for 2020-2021

In our last report (2019-2020) we set out our Key Priorities for 2020-2021. Progress on meeting them is described below.

We organised a rolling programme of “drop in sessions” for activists during the first half of the year. Staff regularly attended online meetings of LCC local groups. Extra training and support was given for segmented/targeted use of LCC’s email broadcast system.

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LONDON CYCLING CAMPAIGN, A COMPANY LIMITED BY GUARANTEE – COMPANY NUMBER 01766411 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

TRUSTEES’ REPORT (continued)

The series is described in general terms above. In addition we ran a multi-session online Campaigners’ Conference and an online technical event with international guests in partnership with the Dutch Embassy.

These two new studies have been put on hold. Regarding shared mobility: we continue to work closely with partners in the shared mobility sector, participate in the London Micromobility Alliance (convened by Centre for London) and have published a substantial literature review of micromobility parking best practice. Our partnership work will be intensified as we approach the 2022 borough elections and define bespoke, local demands for councils to facilitate a shift away from private car use towards active travel and shared mobility. Regarding freight decarbonisation; this issue has now started to be taken more seriously across the sector, partly stimulated by the UK Government’s acceptance of the Sixth Carbon Budget from the Committee on Climate Change and the DfT’s Transport Decarbonisation Strategy, and the impetus provided by the UK taking over the UNFCCC COP-26 presidency at the Glasgow Summit in late 2021. The gap that LCC intended to fill regarding freight decarbonisation is therefore starting to be filled by the industry itself (albeit more slowly than is needed).

Our work in relation to the Streetspace Plan is described in general terms above. In addition, LCC participated in TfL’s Streetspace Advisory Group (we await details of what body will replace this group, now that the Streetspace Plan has formally finished and will evolve back into the wider, ongoing Healthy Streets programme). At the time of writing we are scrutinising the new, short term funding settlement for TfL by the DfT, which will shape the next phase of Healthy Streets and therefore how LCC interacts with it.

In his role as Chair of the London Sustainable Development Commission, the LCC CEO was able to advance LCC’s arguments to the Government regarding the importance of investing in, not stepping back from, mode shift to active travel and greener public transport. We continue to work with TfL to support its efforts to permanently embed those parts of the Streetspace Plan that contribute to the

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LONDON CYCLING CAMPAIGN, A COMPANY LIMITED BY GUARANTEE – COMPANY NUMBER 01766411 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

TRUSTEES’ REPORT (continued)

Strategic Cycling Network. This takes the form of giving input on quality and location issues, inclusive design, and more effective public engagement.

Re-launch our Climate Safe Streets mayoral election campaign

This campaign was relaunched with a major update to LCC’s in-depth Climate Safe Streets Report, shortly before the rescheduled election. Unfortunately, we were not able to repeat the 100% success rate achieved at the 2012 and 2016 mayoral elections (i.e. getting all the major candidates to sign up in full to the three point agendas we had set, all of which were subsequently met by the past and present mayor). Full sign up was achieved with the Lib Dem and Green candidates, and Sadiq Khan, re-elected as mayor, gave a promising statement in response but no new, specific commitments. No response was received from the Conservative candidate. Sadiq Khan is committed to the goal of a net zero carbon London by 2030 but, worryingly, is relying on the now-outdated targets set in his earlier Mayor’s Transport Strategy for the road transport component of this. It will be a priority for LCC to engage the Mayor and his new senior team to address this shortcoming. We are also reviewing the substantially changed context for campaigning now (as compared to 2012 and 2014) to understand what shifts may be permanent, so that we can recalibrate our approach at future elections.

A process of updating and improving the written guidance provided to activists was initiated during the year. However, the demands of supporting the Streetspace Plan, relaunching the Climate Safe Streets campaign and launching a new website slowed progress. At the time of writing an online Campaigners’ Conference is planned for September 2021, at which the full set of new guidance and tools will be published, and new staff capacity has recently been funded and put in place to train and support activist/group training. Local groups are currently being consulted on their future advice and guidance needs.

As noted above, this is an area where LCC’s progress has been stuttering at best in previous years. A new, funded Diversity & Inclusion Plan is now in place and operating to address this. This includes funded work to work collaboratively with BAME and other community organisations.

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LONDON CYCLING CAMPAIGN, A COMPANY LIMITED BY GUARANTEE – COMPANY NUMBER 01766411 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

TRUSTEES’ REPORT (continued)

The additional fundraising events we had pencilled in for the year to enable this increase in capacity did not occur due to the second wave of Covid 19 and consequent lockdowns. It remains LCC’s intention to invest in this area but no plans to do so are currently possible. The situation will be reviewed in the second half of the new financial year.

This was achieved. At the time of writing we are in a review phase, supported by our website/digital communications agency, the results of which will inform the next development phase of the website and associated digital communications (including social media).

Progress in this area was slow, although we maintained a well-regarded project with NHS institutions in West London. At the time of writing we are in discussions with potential partners to expand this work.

We gave social media, policy and brand support to the industry #BikeisBest campaign, doing so again (at the time of writing) in relation to its current second iteration

A new three year plan (attenuated in line with the fact that the new mayoralty will be for that length only) is in place.

In line with evolving government guidance: close the charity’s office and virtualise its operations, helping staff to maintain productive, flexible working from home; and re-open the office in stages, in line with a clear risk assessment and mitigations

As noted above, office virtualisation was completed speedily and effectively. Formal re-opening the office was not possible during the financial year, but we are currently planning for a phased return to the office (albeit with a “blended” home-office approach), in the latter half of the new financial year, adhering to Government guidance as it continues to evolve.

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LONDON CYCLING CAMPAIGN, A COMPANY LIMITED BY GUARANTEE – COMPANY NUMBER 01766411 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

TRUSTEES’ REPORT (continued)

4. Marketing & Membership

Membership

Income from membership services in the year ended 31 March 2021 improved compared to the previous year £507,559 (2020: £497,654). Member retention was increased with 91% of all LCC members renewing (2020: 85%). The 1,181 new members recruited in the year was an increase from 1,083 in the previous year.

New member recruitment continues to be LCC’s greatest membership challenge and the organisation is seeking to build numbers given the increase in cycling due to Covid-19. In 2019 we took over the running of the prestigious Urban Hill Climb event but were not able to hold the event in 2020. We hope to develop this event in future years, Covid permitting, by encouraging a more diverse set of entrants, enriching the options for participation and bringing sponsors on board.

Over the next year member recruitment activities will continue to be aligned closely to LCC’s campaigning work. Achieving membership growth remains a priority so that we can grow income, further strengthen advocacy, and provide a platform for other income generating activity.

Advertising

LCC continues to generate income through selling advertising, both in the London Cyclist magazine and online. Advertising income remains stable despite a very challenging market. LCC’s clients continue to move greater proportions of advertising spend into digital. In the year the LCC website was redeveloped and a branding review started, with a view to growing income in future years.

5. Consultancy & Services

The remit of the Cycling Projects team is to provide services that significantly contribute to the charity’s aim of seeing more people cycling in London. The team markets the charity’s expertise and knowledge, and creates and runs behaviour change programmes for a range of clients. This trading not only helps thousands of people to start cycling, or cycle more, but also creates income that can be reinvested in scaling up these projects and in the charity’s advocacy work.

We continue to work with both the public and private sector, advising them on cycling strategies and delivering services. Due to the pandemic many projects were on hold or significantly curtailed.

Notable successes were the delivery of support for cycling for staff working in a number of hospitals in West London and a Cycle Buddy scheme aimed at helping people onto, or back onto, their cycles. Both projects are continuing with the Cycle Buddy scheme being adopted in other towns and cities.

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LONDON CYCLING CAMPAIGN, A COMPANY LIMITED BY GUARANTEE – COMPANY NUMBER 01766411 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

TRUSTEES’ REPORT (continued)

6. Priorities for 2021-2022

Following the recent update of the charity’s rolling four year strategic plan, the following priorities have been set for the 2021-2022 financial year:

Zero carbon roads in London by 2030

Campaign to achieve the following:

Any continuation or future reinstatement of government restrictions due to Covid-19 is not expected to impact in a significant way on pursuing these priorities. The exception to this is if economic circumstances are such that the charity experiences a significant downturn in income. The charity has a robust process in place to forecast income, and trigger scheduled contingencies, should this look likely to occur at any time.

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LONDON CYCLING CAMPAIGN, A COMPANY LIMITED BY GUARANTEE – COMPANY NUMBER 01766411 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

TRUSTEES’ REPORT (continued)

7. Funding & Finance

The charity’s main sources of unrestricted funding are membership income, consultancy & services and charitable donations. We have been grateful to receive one-off donations as well as regular donations from members in support of our campaigning work, and are thankful to the public for responding enthusiastically to appeals run during the year.

Income from charitable activities was £691,037 (2020: £869,588). Total income was £942,774 (2020: £1,077,903) with total expenditure of £941,601 (2020: £1,075,948) giving a surplus of £1,173 (2020: £1,955).

8. Fundraising

Fundraising Code

The charity complies with the Fundraising Code. Our fundraising takes the form of:

The charity does not fundraise by telephone, other than to make contact once with people whose membership has recently lapsed, to inform them of that fact and process any renewals requested. Neither does it conduct on-street fundraising or pay others to fundraise from the public for LCC. Thus, although the charity remains careful to abide by the code, the burden of compliance is less than it would be if we conducted telephone, on-street and contract-based fundraising with supporters or the general public.

Patrons’ Network

It has been four years now since the Patron Network was established and it is progressing well. The founder patrons have assisted in bringing new funders to the table and supported LCC in experimenting with fundraising ideas. This year the network raised £127,725 (2020: £111,000) for innovative work.

The patron network is taking shape not just as a fundraising group but also for networking and engaging high profile individuals to actively support LCC.

Sponsorship

Butterworth Spengler Insurance Brokers kindly sponsored the AGM with a donation of £2,000.

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LONDON CYCLING CAMPAIGN, A COMPANY LIMITED BY GUARANTEE – COMPANY NUMBER 01766411 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

TRUSTEES’ REPORT (continued)

9. Reserves Policy

The charity’s income comprises unrestricted income (membership fees, donations, sponsorship and trading income) and Branch income, which is treated as restricted income. To ensure that the charity is able to meet its liabilities as they fall due, the Trustees review the level of free reserves annually. Free reserves are unrestricted reserves adjusted for operational fixed assets. Branch reserves are not included.

At 31 March 2021, unrestricted reserves were £144,578 (2020: £120,674). At that date Free reserves were £126,171 (2020: £115,846) and are budgeted to be £127,341 by 31 March 2022.

The Trustees’ reserves policy is based on: (a) the income and expenditure budget and the cash flow budget for the financial year, (b) a “safety margin” to cope with any possible poor income generation over the financial year and/or unexpected loss of income streams and (c) past experience of managing difficulties.

On this basis, the Trustees believe that the charity should aim for free reserves of £140,000.

So as not to overly restrict the activities of the charity and recognising the challenges posed by the lessening of activity due to Covid-19, the Trustees have determined that the charity should aim to reach this target level of reserves over the next two or three years by budgeting for a reasonable surplus each year.

Each local group reviews their own level of reserves based on the level of activity of that group. Each local group ensures that they have sufficient but not excessive reserves to meet the likely needs of their group.

10. Statement of Risk Policy and Internal Controls

The Trustees and subcommittees of the Board review the major risks to the viability of the organisation and its ability to meet its objectives as part of the budget setting process. Significant risks that have been identified during the year (i.e. those viewed as having a high impact on the organisation’s ability to deliver its objectives) are normally raised with the Treasurer, the Chair of the Business Committee and the Chair of the charity. The Senior Management Team also reviews major risks on a monthly basis and the CEO reports on risk management to the Business Committee, which meets every two months. The CEO maintains a risk register, reviewed at the Board meetings.

In the year the Business Committee reviewed the Charity Commission’s Internal Financial Controls checklist and instigated a number of improvements to the financial policies and procedures.

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LONDON CYCLING CAMPAIGN, A COMPANY LIMITED BY GUARANTEE – COMPANY NUMBER 01766411 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

TRUSTEES’ REPORT (continued)

The Trustees are satisfied sufficient controls are in place to mitigate the major risks. The risk management approach taken by the organisation is that all staff should be aware of the risks in their area and bring any risk likely to have a significant impact on the charity to the notice of senior managers. Senior managers assess the risks to the organisation during the annual budgeting process and monitor these at least monthly, and include mitigation strategies within operational plans.

The Board is aware that independent assurance of the risks and their mitigation is a legal responsibility, and to provide additional assurance Trustees examined a variety of data during the year, including:

The main risk to the organisation during 2020/2021 arose from the challenges in generating income, particularly due to Covid-19. Contingency planning remains in place to adjust costs as needed should the current positive financial situation change.

11. Staff Remuneration

LCC has a formal and transparent pay scale. The grade and pay for each vacancy is set by the senior manager responsible for that recruitment (in conjunction with the Chief Executive) according to the Job Description; it is advertised openly. Movement along the pay scale of existing staff is determined according to changes in their Job Descriptions.

12. Going Concern

The trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for at least the next year. The trustees review the charity’s reserves policy periodically.

Free reserves are budgeted to be £127,341 at 31 March 2022. This is 91% of the target level of reserves. The trustees have therefore adopted a cautious approach until the target level of reserves is reached.

Membership Services income accounts for over 50% of total income and is relatively stable. The charity continues to monitor membership subscriptions and is taking appropriate steps to retain existing members and attract new members. The charity has recommenced claiming gift-aid on membership

17

LONDON CYCLING CAMPAIGN, A COMPANY LIMITED BY GUARANTEE – COMPANY NUMBER 01766411 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

TRUSTEES’ REPORT (continued)

subscriptions from March 2020. It believes that the claims are valid and should be paid. There is, however, a risk that HMRC may take a different view. Should that happen the charity would adjust costs accordingly.

Consultancy & Service Delivery and Donation income is less stable. Should new work not be found or donations not materialise, the charity would adjust costs accordingly.

The organisation maintains a robust, timely, financial reporting schedule which enables prompt action to be taken in the event of a change in financial circumstances.

The trustees continue to adopt the going concern basis of accounting in preparing the financial statements. There are no known, material uncertainties regarding the charity’s ability to continue as a going concern.

13. Trustees’ Responsibilities

The Trustees (who are also directors for the purpose of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and regulations.

Company law requires the Trustees to prepare financial statements for each financial year. Under that law the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and the results of the charitable company for that period.

In preparing these financial statements, the Trustees are required to:

18

LONDON CYCLING CAMPAIGN, A COMPANY LIMITED BY GUARANTEE – COMPANY NUMBER 01766411 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

TRUSTEES’ REPORT (continued)

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and 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.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislations in other jurisdictions.

Disclosure of information to auditors

Insofar as the Trustees are aware:

14. Appointment of Auditors

The charity’s auditors are appointed annually by a Resolution of the charity’s Annual General Meeting. At the AGM in October 2020 UHY Hacker Young were reappointed as auditors for a further year.

15. Small Company Provisions Statement

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime. This report was approved by the Trustees at their meeting on 26th July 2021.

Signed by

Eilidh Murray , Vice-Chair and Trustee, on behalf of the Board on 26[th] July 2021

19

LONDON CYCLING CAMPAIGN, A COMPANY LIMITED BY GUARANTEE – COMPANY NUMBER 01766411 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF LONDON CYCLING CAMPAIGN

Opinion

We have audited the financial statements of London Cycling Campaign (the ‘parent charitable company’) and its subsidiaries (the ‘group’) for the year ended 31 March 2021 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Charity Group Balance Sheet, Consolidated Statement of Cash Flows and notes to the financial statement, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statement is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group or parent charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the financial statements. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

20

LONDON CYCLING CAMPAIGN, A COMPANY LIMITED BY GUARANTEE – COMPANY NUMBER 01766411 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF LONDON CYCLING CAMPAIGN (continued)

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the trustees' report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees' responsibilities statement set out on pages 18 and 19 the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group's and the parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

21

LONDON CYCLING CAMPAIGN, A COMPANY LIMITED BY GUARANTEE – COMPANY NUMBER 01766411 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF LONDON CYCLING CAMPAIGN (continued)

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Allan Hickie (Senior Statutory Auditor)

For and on behalf of UHY Kent LLP

Chartered Accountants and Statutory Auditor

22

LONDON CYCLING CAMPAIGN, A COMPANY LIMITED BY GUARANTEE – COMPANY NUMBER 01766411 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Consolidated Statement of Financial Activities (including an Income and Expenditure Account) For the year ended 31 March 2021

Note
Income
Donations
Income from charitable activites
2
Income from other trading
activities
3
Total Income
Expenditure
Costs of raising donations
4
Expenditure on charitable activities
5
Costs of other trading activities
6
Total expenditure
Net income/(expenditure) for
the year before transfers
Transfers between funds
7
Net Movement in Funds
Fund balances at 1 April 2020
Fund balances at 31 March 2021		 Unrestricted
funds
Restricted
funds
Branch
funds
Total
Total
Year ended
31 March
2021
Year ended
31 March
2021
Year ended
31 March
2021
Year ended
31 March
2021
Year ended
31 March
2020
£
£
£
£
£
235,904
-
-
235,904
190,421
699,454
4,390
(12,807)
691,037
869,588
15,833
-
-
15,833
17,894
951,191
4,390
(12,807)
942,774
1,077,903
81,171
-
-
81,171
89,414
835,799
-
12,267
848,066
958,849
12,364
-
-
12,364
27,685
929,334
-
12,267
941,601
1,075,948
21,857
4,390
(25,074)
1,173
1,955
2,047
-
(2,047)
-
-
23,904
4,390
(27,121)
1,173
1,955
120,674
-
77,751
198,425
196,470
144,578
4,390
50,630
199,598
198,425

All income and expenditure derives from continuing activities.

The notes on pages 27 to 42 form part of these financial statements

23

LONDON CYCLING CAMPAIGN, A COMPANY LIMITED BY GUARANTEE – COMPANY NUMBER 01766411 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Consolidated Balance Sheet

As at 31 March 2021

Notes
£
£
Fixed Assets
Intangible assets
12
16,275
Tangible assets
13
2,132
18,407
Current assets
Stock
15
257
Debtors
16
76,260
Cash at bank and in hand
17
280,669
357,186
Creditors - amounts falling due
within one year
18
(175,995)
Net current assets
181,191
Total assets less current liabilities
199,598
Funds
Unrestricted funds
20
144,578
Restricted funds
21
4,390
Branch funds
22
50,630
199,598
31 March 2021		 31 March 2020
£
£
-
4,829
4,829
333
272,629
193,539
466,501
(272,905)
193,596
198,425
120,674
-
77,751
198,425

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

The notes on pages 27 to 42 form part of these financial statements.

The accounts were approved by the Board and authorised for issue on 26[th] July 2021

Signed by:

Simon Clark, Trustee and Treasurer Eilidh Murray, Trustee and Vice-Chair of the Board of Trustees

24

LONDON CYCLING CAMPAIGN, A COMPANY LIMITED BY GUARANTEE – COMPANY NUMBER 01766411 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Charity Balance Sheet

As at 31 March 2021

Notes
£
£
Fixed Assets
Intangible assets
12
16,275
Tangible assets
13
2,132
Investment in Trading Company
14
2
18,409
Current assets
Stock
15
257
Debtors
16
126,277
Cash at bank and in hand
17
208,459
334,993
Creditors - amounts falling due
18
within one year
(175,995)
Net current assets
158,998
Total assets less current liabilities
177,407
Funds
Unrestricted funds
20
122,387
Restricted funds
21
4,390
Branch funds
22
50,630
177,407
31 March 2021		 31 March 2020
£
£
-
4,829
2
4,831
333
279,577
169,387
449,297
(272,905)
176,392
181,223
103,472
-
77,751
181,223

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

The notes on pages 27 to 42 form part of these financial statements.

The accounts were approved by the Board and authorised for issue on 26[th] July 2021.

Signed by:

Simon Clark, Trustee and Treasurer Eilidh Murray, Trustee and Vice-Chair of the Board of Trustees

25

LONDON CYCLING CAMPAIGN, A COMPANY LIMITED BY GUARANTEE – COMPANY NUMBER 01766411 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Consolidated Statement of Cash Flows

For the year ended 31 March 2021

Year ended Year ended
31 March 2021 31 March 2020
Note £ £
Cash flows from operating activities:
Net cash generated by/(used in) operating activities (a) 106,380 (110,715)
Cash flows from investing activities:
Purchase of intangible fixed assets 12 (19,250) -
Purchase of tangible fixed assets 13 - (4,800)
(19,250) (4,800)
Change in cash and cash equivalents in the year 87,130 (115,515)
Cash and cash equivalents at the beginning of the year 193,539 309,054
Cash and cash equivalents at the end of the year (b) 280,669 193,539
**(a) ** Reconciliation of net expenditure to net cash flows from operating activities
Year ended Year ended
31 March 2021 31 March 2020
£ £
Net income for the year 1,173 1,955
Adjustments for:
Amortisation charged in the year 2,975 2,000
Depreciation charged in the year 1,834 1,835
Loss on disposal of IT equipment 863 -
Movement in stock 76 (333)
Movement in debtors 196,369 (178,746)
Movement in creditors (96,910) 62,574
Net cash flow from operating activities 106,380 (110,715)
**(b) ** Analysis of cash and cash equivalents and net debt
Year ended Year ended
31 March 2021 31 March 2020
£ £
Cash held centrally 225,406 92,578
Cash held by branches 55,263 100,961
Total cash and cash equivalents 280,669 193,539
Debt - -
Total cash and cash equivalents less debt 280,669 193,539

26

LONDON CYCLING CAMPAIGN, A COMPANY LIMITED BY GUARANTEE – COMPANY NUMBER 01766411 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Notes Forming Part of the Financial Statements

1. Accounting Policies

General information and basis of accounting

London Cycling Campaign is a company limited by guarantee (registered number 01766411), incorporated in England & Wales. It is governed by its Memorandum and Articles of Association and its registered office is Metropolitan Wharf, 70 Wapping Wall, London, E1W 3SS. Its main activities are as noted in the Trustees Report.

The financial statements have been prepared under the historical cost convention, and in accordance with the Charities SORP (FRS 102) (second edition) “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”, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) (March 2018) and the Companies Act 2006.

London Cycling Campaign meets the definition of a public benefit entity under FRS 102.

The charity’s functional and presentational currency is pounds sterling.

The financial statements have been prepared on the basis that the charity is a going concern as the Trustees have a reasonable expectation that there are adequate resources available to fund the activities of the charity for the foreseeable future. In particular, the Trustees have considered the impact of the Covid-19 emergency on the charity. The Trustees have put in place plans to reduce costs should income reduce below planned levels. Therefore, while the financial effects of the Covid-19 emergency are uncertain, the Trustees are satisfied that the charity remains a going concern.

The preparation of the financial statements requires the Trustees to make estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the disclosure of contingent liabilities at the date of the financial statements. If, in the future, such estimates and assumptions, which are based on the Trustees' best judgement at the date of the financial statements, deviate from the actual circumstances, the original estimates and assumptions will be modified as appropriate in the year in which the circumstances change. The Trustees consider that there are no key sources of estimation uncertainty.

Basis of consolidation

The financial statements consolidate the results of the charity and its wholly owned subsidiary, London Cycling Campaign Trading Limited (the Group), on a line-by-line basis. A separate Statement of Financial Activities and Income and Expenditure Account for the charity has not been presented because advantage has been taken of the exemption afforded by section 408 of the Companies Act 2006.

Exemption from the requirement to disclose transactions between the charity and its subsidiary company has been taken under section 33.1A of FRS 102 as the transactions occur between wholly owned members.

The charity has taken advantage of the disclosure exemption permitted by FRS 102 of the requirements of Section 7, “ Statement of Cash Flows” , to not disclose a charity-only Statement of Cash Flows.

The results of the charity are presented in note 28 of these financial statements.

27

LONDON CYCLING CAMPAIGN, A COMPANY LIMITED BY GUARANTEE – COMPANY NUMBER 01766411 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Notes Forming Part of the Financial Statements (continued)

1. Accounting Policies (continued)

Accounting for separate funds

The financial statements of a charity must differentiate between restricted and unrestricted funds and the fund types used in the Statement of Financial Activities are explained below:

Branch funds are the funds of local groups, which exist in nearly all London Boroughs. As these groups operate independently at a local level, their financial activities and assets and liabilities are identified separately and treated as restricted funds of the charity and separated in the Statement of Financial Activities and Balance Sheet.

Restricted Funds are funds subject to specific conditions imposed by the donor or by the specific terms of the charity appeal.

Unrestricted funds are the funds of the charity available for the general activities of the charity.

Income

Grants, donations, bank and other interest receivable and other sundry income are recognised as income in the Financial Statements when the charity has entitlement to the funds, any performance conditions attached to the item of income have been met, and it is probable that the income will be received and the amount can be reliably measured.

Membership income is treated on the basis that membership subscriptions received comprise two main elements: one element is treated as a payment for the member benefit of public liability insurance, the remainder of the subscription is treated as a donation to the charity. The part of the membership income which is treated as being a payment for a member benefit is recognised on a straight line basis over the 12 months following renewal of the annual membership, unearned income being accounted for as membership income deferred at the end of the accounting period. The part of the membership income which is treated as a donation is recognised in full when received.

Gift Aid is recognised in the Statement of Financial Activities when it is due from HMRC.

Invoiced income for services provided is recognised in the Statement of Financial Activities when the service has been provided. In the case of contracts which are partially complete these are valued taking into account expected income, anticipated costs and the proportion of the work required which has been carried out at the balance sheet date.

Sponsorship income is recognised in the Statement of Financial Activities when invoiced, subject to adjustment if the sponsored activity is not substantially complete at the year end.

Investment income is recognised on an accruals basis.

Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be reliably measured. All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings.

Expenditure is classified under the following headings:

Costs of raising donations and costs of other trading activities

Direct costs of raising donations are the costs of producing publicity in relation to particular fundraising appeals, the cost of branded clothing provided to participants in fundraising events and sundry processing and other costs. Direct costs of other trading activities are the cost of purchasing merchandise, the costs of putting on various sponsored events and sundry other costs. Where costs have not been directly attributed to particular activities, they have been allocated to activities on a basis consistent with the use of the resources.

28

LONDON CYCLING CAMPAIGN, A COMPANY LIMITED BY GUARANTEE – COMPANY NUMBER 01766411 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Notes Forming Part of the Financial Statements (continued)

1. Accounting Policies (continued)

Expenditure (continued)

Charitable activities

Direct Consultancy and Service delivery costs are the costs directly associated with doing this work or providing these services. Direct Campaigning expenditure is the cost of ongoing campaigning activity during the year. Direct Information services expenditure is the cost of producing London Cyclist (LCC’s quarterly magazine), the cost associated with e-newsletters and the website and other sundry communication costs. Membership services costs are made up of the costs of providing public liability insurance to members, the cost of processing memberships and membership marketing costs. Community Cycling costs comprise the cost of annual grants to local branches.

Support costs and governance costs

Support costs are those functions that assist the work of the charity but do not directly involve the undertaking of charitable activities. Support costs include premises, IT, Finance, HR and governance costs which support the work of the charity. These costs have been allocated between costs of raising funds, costs of other trading activities and expenditure on charitable activities. Note 8 shows details of how these costs have been allocated.

Governance costs are the costs of governing the charity and include such items as statutory compliance, the audit of these Financial Statements, formulation of LCC strategy, Trustee training and other activities of the Board of Trustees.

Support costs have been allocated to each restricted fund on the basis of the appropriate grant funding agreement for that fund, and the remainder of these costs have been allocated to the charity’s activities funded by unrestricted funds on the basis of staff input for these activities.

Support costs are apportioned on the basis of the amount of full time equivalent staff time spent.

Taxation

As a registered charity, London Cycling Campaign is not liable to Corporation Tax on charitable donations received, income and surpluses arising from trading in furtherance of its charitable objectives or investment income and gains. Some trading activities undertaken by London Cycling Campaign might be deemed, for tax purposes, to be non-charitable. As a result, surpluses from these activities could be subject to Corporation Tax if they arose in the charitable company, London Cycling Campaign. Activities where this is a risk are therefore undertaken by a subsidiary company, London Cycling Campaign Trading Limited. Surpluses from these activities are potentially subject to Corporation Tax. However, no Corporation Tax arises as any surplus generated within the subsidiary is paid to the charitable company as a donation subject to Gift Aid.

Gift Aid is claimed on donations. For all Gift Aid which has been claimed, the donor has signed a gift aid declaration and the particular donation complies with the requirements for Gift Aid.

Irrecoverable VAT

Amounts of irrecoverable VAT that arise in the year are included in finance costs and allocated in the Statement of Financial Activities in the same way as other support costs.

Fixed assets

Assets which cost £1,000 or more are capitalised. Prior to this year assets which cost £400 or more were capitalised.

Intangible fixed assets and amortisation

Intangible fixed assets are stated at cost less amortisation. Amortisation is provided at rates calculated to write off the cost of these fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

IT development and website costs 33% a year on a straight line basis

29

LONDON CYCLING CAMPAIGN, A COMPANY LIMITED BY GUARANTEE – COMPANY NUMBER 01766411 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Notes Forming Part of the Financial Statements (continued)

1. Accounting Policies (continued)

Fixed assets (continued)

Tangible fixed assets and depreciation

Restricted funds may, on occasion, be used for the purchase of tangible fixed assets, in accordance with the terms of the grant. On acquiring the asset, it is deemed to be an unrestricted asset of the Charity as the restriction has been met in full by the acquisition of the asset. As such, the amount of income used to purchase any fixed assets from restricted funds is transferred to unrestricted funds, along with the related expenditure.

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Furniture & fixtures: 20% a year on a straight line basis Tenants improvements: Over the life of the lease Office equipment: 25% a year on a straight line basis IT equipment: 33% a year on a straight line basis

Investment in trading subsidiary

The investment in trading subsidiaries is included at cost.

Impairments

Assets are reviewed for indications of impairment at each balance sheet date. If such indication exists, the recoverable amount of the asset is estimated and compared to the carrying amount. Where the carrying amount exceeds the recoverable amount, an impairment loss is recognised in the Statement of Financial Activities.

Stock

Merchandise stock is stated at the lower of cost and net realisable value.

Debtors

Debtors are recognised initially at fair value. Subsequent to initial recognition, they are measured at amortised cost using the effective interest method, less any impairment losses. Trade and other debtors are recognised at the amount due on the day that they arise. Prepayments are amounts paid in advance and are stated at the actual amount that has been prepaid.

Cash and Cash Equivalents

Cash and cash equivalents represent amounts held within current or deposit bank accounts.

Creditors

Creditors are recognised initially at fair value. Subsequent to initial recognition, they are measured at amortised cost using the effective interest method. Creditors and accruals are recognised when the Charity has an obligation to make a payment to a third party.

Operating leases

Rentals on operating leases are charged to the Statement of Financial Activities on a straight-line basis over the lease term. An operating lease is a lease in which the lessee has not taken on substantially all the risks and rewards of ownership of the leased asset. The benefits of incentives to sign property leases, including rent-free periods, are spread on a straight-line basis over the lease term.

Pensions

The charity operates a non-contributory Group Pension Scheme. This scheme is a defined contribution scheme and contributions by the charity are charged to the Consolidated Statement of Financial Activities in the month to which the contributions relate. The charity contributes 8% of salary for employees. All assets of the pension fund are held separately from LCC and do not form part of these financial statements.

30

LONDON CYCLING CAMPAIGN, A COMPANY LIMITED BY GUARANTEE – COMPANY NUMBER 01766411 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Notes Forming Part of the Financial Statements (continued)

2. Income from charitable activities

2. Income from Charitable Activities

Unrestricted income
Consultancy & Service Delivery
Magazine advertising
Membership Services
Restricted Income
Branch Income
Income
Grants returned to funders		 Year ended
Year ended
31 March 2021
31 March 2020
£
£
132,970
301,983
58,925
42,785
507,559
497,654
699,454
842,422
4,390
-
7,047
27,166
(19,854)
-
(12,807)
27,166
691,037
869,588

3. Income from other trading activities

Non-Charitable Trading
Sponsorship		 Year ended
Year ended
31 March 2021
31 March 2020
£
£
3,833
4,044
12,000
13,850
15,833
17,894

4. Cost of raising donations

Cost of Raising Donations Direct staff
Other direct
Support costs
Year ended
Year ended
costs
costs
(note 8)
31 March 2021
31 March 2020
£
£
£
£
£
54,967
9
26,195
81,171
89,414

31

LONDON CYCLING CAMPAIGN, A COMPANY LIMITED BY GUARANTEE – COMPANY NUMBER 01766411 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Notes Forming Part of the Financial Statements (continued)

5. Expenditure on charitable activities

Consultancy & Service Delivery
Campaigning
Information Services
Membership Services
Community Cycling - Unrestricted
Community Cycling - Branch		 Direct staff
Other direct
Support costs
Year ended
Year ended
costs
costs
(note 8)
31 March 2021
31 March 2020
£
£
£
£
£
47,407
68,302
26,718
142,427
324,194
211,273
13,481
111,068
335,822
257,850
30,305
80,791
48,406
159,502
154,241
79,438
78,347
17,806
175,591
171,807
13,925
-
8,532
22,457
27,097
382,348
240,921
212,530
835,799
935,189
-
12,267
-
12,267
23,660
382,348
253,188
212,530
848,066
958,849

6. Cost of other trading activities

Non-charitable trading
Sponsorship		 Direct staff
Other direct
Support costs
Year ended
Year ended
costs
costs
(note 8)
31 March 2021
31 March 2020
£
£
£
£
£
4,139
99
2,207
6,445
20,795
4,060
-
1,859
5,919
6,890
8,199
99
4,066
12,364
27,685

7. Transfers between funds

Year ended 31 March 2021
Money transferred from the branches to fund
project work
Grants made to branches
Year ended 31 March 2020
Grants made to branches		 Unrestricted
Designated
Restricted
Total
Fund
Fund
Funds
£
£
£
£

6,500
-
(6,500)
-
(4,453)
-
4,453
-
2,047
-
(2,047)
-
Unrestricted
Designated
Restricted
Total
Fund
Fund
Funds
£
£
£
£
(4,591)
-
4,591
-

32

LONDON CYCLING CAMPAIGN, A COMPANY LIMITED BY GUARANTEE – COMPANY NUMBER 01766411 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Notes Forming Part of the Financial Statements (continued)

8. Support costs

Staff costs (Support & Governance)
Incidental HR costs
Premises
Office services
Liability insurance
IT costs
Finance costs
Direct governance costs		 Year ended
Year ended
31 March 2021
31 March 2020
£
£
114,726
103,361
8,089
7,811
53,828
55,065
6,325
4,683
9,822
9,822
24,504
25,120
15,683
8,911
9,814
13,314
242,791
228,087

Direct governance costs include external audit fees of £8,750 (2020: £8,750). Staff costs include £34,662 (2020: £27,126) of staff costs relating to governance. Total costs of governance were £44,477 (2020: £40,440). Support costs are apportioned on the basis of the amount of full time equivalent staff time spent. The basis of this allocation is as follows:

Full-time equivalent staff time in operational areas

Full-time equivalent staff time in operational areas in operational areas
Year ended Year ended
31 March 2021 31 March 2020
Number of staff % Number of staff %
Raising Donations 1.1 10.7% 1.4 12.9%
Consultancy & Service delivery 1.2 11.0% 2.7 24.3%
Campaigning 4.8 45.7% 3.4 31.1%
Membership Services 2.1 20.0% 2.1 19.6%
Information Services 0.8 7.3% 0.8 7.0%
Community Cycling 0.4 3.5% 0.4 3.3%
Charitable activities 9.3 87.5% 9.4 85.3%
Non-Charitable Trading 0.1 0.9% 0.1 0.9%
Sponsorship 0.1 0.9% 0.1 0.9%
Trading activities 0.2 1.8% 0.2 1.8%
10.6 100.0% 11.0 100.0%

The average monthly head count was 18 staff (Note 10). The total of 10.6 staff full-time equivalent in operational areas is derived by taking account of the part time staff deployed in each area.

Allocation of support costs
Cost of raising donations – note 4
Expenditure on charitable activities – note 5
Cost of other trading activities – note 6		 Year ended
Year ended
31 March 2021
31 March 2020
£
£
26,195
29,478
212,530
194,487
4,066
4,122
242,791
228,087

33

LONDON CYCLING CAMPAIGN, A COMPANY LIMITED BY GUARANTEE – COMPANY NUMBER 01766411 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Notes Forming Part of the Financial Statements (continued)

9. Analysis of staff costs, Trustee remuneration and expenses, and the cost of key management personnel

Wages and salaries
Social security costs
Other pension costs		 Year ended
Year ended
31 March 2021
31 March 2020
£
£
482,135
506,018
40,413
43,899
37,692
36,194
560,240
586,111

Pension costs are allocated to activities in proportion to the related staffing costs incurred. At the year end, employer pension contributions totalling £3,211 (2020: £3,048) are included within other creditors.

There was one employee who received total employee benefits in the range £60,001 to £70,000 (2020: one). Pension contributions in respect of employees paid over £60,000 amounted to £5,332 (2020: £4,889).

The charity Trustees were not paid and did not receive any other benefits from employment with the charity or its subsidiary in the year (2020: £nil). Neither were they reimbursed expenses during the year (2020: £nil). No charity Trustee received payment for professional or other services supplied to the charity or its subsidiary (2020: £nil).

The key management personnel of the parent charity comprise the Trustees, the Chief Executive, the Cycling Projects Manager, the Marketing Manager and the Partnerships Manager. The total remuneration of the key management personnel of the parent charity (including employer’s pension contributions) were £213,630 (2020: £202,726). The wholly owned subsidiary, London Cycling Campaign Trading Limited, employs no staff. Therefore, the total remuneration of the key management personnel of the group are as stated above for the charity and the Group.

10. Staff numbers

The average monthly head count was 18 staff (2020: 19 staff).

11. Income/(expenditure) for the year

Income/(expenditure) for the year is stated after charging:

Year ended Year ended
31 March 2021 31 March 2020
£ £
Auditor's remuneration 8,750 8,750
Auditor's remuneration - taxation 250 250
Amortisation 2,975 2,000
Depreciation 1,834 1,835
Operating leases: Land and Buildings 35,928 35,928
Other 2,083 1,226

34

LONDON CYCLING CAMPAIGN, A COMPANY LIMITED BY GUARANTEE – COMPANY NUMBER 01766411 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Notes Forming Part of the Financial Statements (continued)

12. Intangible Fixed Assets

Cost
At 1 April 2020
Additions
Disposals
At 31 March 2021
Amortisation
At 1 April 2020
Charge for year
Eliminated on disposal
At 31 March 2021
Net Book Value
At 31 March 2021
At 31 March 2020		 Website costs
£
36,926
19,250
(36,926)
19,250
36,926
2,975
(36,926)
2,975
16,275
-

13. Tangible Fixed Assets

Cost
At 1 April 2020
Disposals
At 31 March 2021
Depreciation
At 1 April 2020
Charge for year
Eliminated on disposal
At 31 March 2021
Net Book Value
At 31 March 2021
At 31 March 2020		 Furniture
Tenants
IT
Office
Total
& Fixtures
Improvements
Equipment
Equipment
£
£
£
£
£
6,241
624
27,916
3,610
38,391
(2,624)
-
(9,871)
-
(12,495)
3,617
624
18,045
3,610
25,896
5,862
254
24,642
2,804
33,562
161
138
1,171
364
1,834
(2,624)
-
(9,008)
-
(11,632)
3,399
392
16,805
3,168
**23,764 **
218
232
1,240
442
**2,132 **
379
370
3,274
806
4,829

14. Investment in trading subsidiary

The charity, London Cycling Campaign, owns two £1 shares in a wholly owned trading subsidiary, London Cycling Campaign Trading Limited.

35

LONDON CYCLING CAMPAIGN, A COMPANY LIMITED BY GUARANTEE – COMPANY NUMBER 01766411 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Notes Forming Part of the Financial Statements (continued)

15. Stock

Group and Charity

Group and Charity
16. Debtors
Merchandise stock
Trade debtors
Other debtors
Owed by subsidiary
Prepayments		 31 March 2021
31 March 2020
£
£
257
333
31 March 2021
31 March 2020
£
£
24,334
214,674
18,667
30,250
-
-
33,259
27,705
76,260
272,629
Group		 31 March 2021
31 March 2020
£
£
12,180
196,484
17,819
30,250
63,019
25,138
33,259
27,705
126,277
279,577
Charity
31 March 2021
£
24,334
18,667
-
33,259
76,260

16. Debtors

17. Cash at bank and in hand

Cash held centrally
Cash held by Branches		 31 March 2021
31 March 2020
£
£
225,406
92,578
55,263
100,961
280,669
193,539
Group		 Charity
31 March 2021
£
225,406
55,263
280,669		 31 March 2021
31 March 2020
£
£
153,196
68,426
55,263
100,961
208,459
169,387

18. Creditors – amounts falling due within one year

Group and Charity

Trade creditors
Taxes and social security costs
Accruals
Deferred income (note 19)
Other creditors
Branch creditors		 31 March 2021
31 March 2020
£
£
68,136
38,192
11,635
45,454
15,675
34,611
68,207
118,169
7,709
13,268
4,633
23,211
175,995
272,905

36

LONDON CYCLING CAMPAIGN, A COMPANY LIMITED BY GUARANTEE – COMPANY NUMBER 01766411 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Notes Forming Part of the Financial Statements (continued)

19. Deferred income

Group and Charity
31 March 2021
£
Deferred consultancy and service delivery Income
52,014
Deferred membership income
16,193
Funds received in advance for staff costs
-
68,207
Group and Charity
31 March 2021
£
Balance at 1 April
118,169
Income released in the year
(89,871)
Income deferred in the year
39,909
Balance at 31 March
**68,207 **		 31 March 2020
£
97,798
16,292
4,079
118,169
31 March 2020
£
88,241
(88,241)
118,169
118,169

Invoiced income for consultancy and services provided is recognised in the Statement of Financial Activities when the service has been provided. In the case of contracts which are partially complete income is deferred taking into account expected income, anticipated costs and the proportion of the work required which has been carried out.

Membership income is treated on the basis that membership subscriptions received comprise two main elements: one element is treated as a payment for the member benefit of public liability insurance, the remainder of the subscription is treated as a donation to the charity. The part of the membership income which is treated as being a payment for a member benefit is recognised on a straight line basis over the 12 months following renewal of the annual membership, unearned income being accounted for as membership income deferred at the end of the accounting period. The part of the membership income which is treated as a donation is recognised in full when received.

Funds received in advance to cover staff costs in future years are deferred to match the expenditure.

20. Unrestricted funds

Balance at 01 April
Total income for the year
Total expenditure for the year
Net movement in funds for the year
Transfers from/(to) branches
Balance at 31 March		 31 March 2021
31 March 2020
31 March 2021
31 March 2020
£
£
£
£
120,674
122,225
103,472
17,900
951,191
1,050,737
946,167
1,137,902
(929,334)
(1,047,697)
(929,299)
(1,047,739)
21,857
3,040
16,868
90,163
2,047
(4,591)
2,047
(4,591)
144,578
120,674
122,387
103,472
Group
Charity
31 March 2021
£
120,674
951,191
(929,334)
21,857
2,047
144,578

37

LONDON CYCLING CAMPAIGN, A COMPANY LIMITED BY GUARANTEE – COMPANY NUMBER 01766411 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Notes Forming Part of the Financial Statements (continued)

21. Restricted funds

Group and Charity

Balance at 01 April
Total income for the year
Total expenditure for the year
Net movement in funds for the year
Balance at 31 March		 31 March 2021
31 March 2020
£
£
-
-
4,390
-
-
-
4,390
-
4,390
-

The funds are in respect of a Walking and Cycling grant to fund the “Hackney Ark - My Bike and Me” project. The income for the project was received in the year ended 31 March 2021 and the funds are expected to be applied in the year ending 31 March 2022. The project is expected to run for three years with further funding in years two and three.

22. Branch funds

Group and Charity

Balance at 01 April
Total income for the year
Total expenditure for the year
Net movement in funds for the year
(Transfers to)/Received from unrestricted funds
Balance at 31 March		 31 March 2021
31 March 2020
£
£
77,751
74,245
(12,807)
22,575
(12,267)
(23,660)
(25,074)
(1,085)
(2,047)
4,591
50,630
77,751

38

LONDON CYCLING CAMPAIGN, A COMPANY LIMITED BY GUARANTEE – COMPANY NUMBER 01766411 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Notes Forming Part of the Financial Statements (continued)

23. Analysis of net assets between funds

Group
31 March 2021
Intangible Fixed Assets
Tangible Fixed Assets
Current Assets
Current Liabilities
Group
31 March 2020
Intangible Fixed Assets
Tangible Fixed Assets
Current Assets
Current Liabilities
Charity
31 March 2021
Intangible Fixed Assets
Tangible Fixed Assets
Investment in Trading Company
Current Assets
Current Liabilities
Charity
31 March 2020
Intangible Fixed Assets
Tangible Fixed Assets
Investment in Trading Company
Current Assets
Current Liabilities		 Unrestricted
Restricted
Branch
Total
Funds
Funds
Funds
£
£
£
£
16,275
-
-
16,275
2,132
-
-
2,132
297,533
4,390
55,263
357,186
(171,362)
-
(4,633)
(175,995)
144,578
4,390
50,630
199,598
Unrestricted
Restricted
Branch
Total
Funds
Funds
Funds
£
£
£
£
-
-
-
-
4,829
-
-
4,829
365,539
-
100,962
466,501
(249,694)
-
(23,211)
(272,905)
120,674
-
77,751
198,425
Unrestricted
Restricted
Branch
Total
Funds
Funds
Funds
£
£
£
£
16,275
-
-
16,275
2,132
-
-
2,132
2
-
-
2
275,340
4,390
55,263
334,993
(171,362)
-
(4,633)
(175,995)
122,387
4,390
50,630
**177,407 **
Unrestricted
Restricted
Branch
Total
Funds
Funds
Funds
£
£
£
£
-
-
-
-
4,829
-
-
4,829
2
-
-
2
348,335
-
100,962
449,297
(249,694)
-
(23,211)
(272,905)
103,472
-
77,751
181,223

39

LONDON CYCLING CAMPAIGN, A COMPANY LIMITED BY GUARANTEE – COMPANY NUMBER 01766411 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Notes Forming Part of the Financial Statements (continued)

24. Related party transactions

The Trustees and Chief Executive Officer are members of London Cycling Campaign. As such they pay the normal level of subscription and receive all the benefits of membership.

One of the Trustees, Stuart Kightley, is also managing partner of Osbornes LLP and head of their personal injury department. The charity entered into an agreement with Osbornes LLP in the year ended 31 March 2021 year and in the prior year to promote their services to the members of the LCC. The agreement is renegotiated each year on an arm’s length basis.

25. Commitments under Operating Leases

At 31 March 2021 London Cycling Campaign had minimum lease payments under non-cancellable operating leases as follows:

Group and Charity

Total lease payments
Within 1 year
In 1 to 5 years
In over 5 years		 31 March 2021
31 March 2020
40,000
39,167
14,160
54,160
-
-
54,160
93,327
Land & Buildings		 31 March 2021
31 March 2020
1,908
296
5,724
-
-
-
7,632
296
Other

26. Volunteers

Volunteers, who include our Trustees, make an important and significant contribution to London Cycling Campaign. All participants in LCC’s local groups – which are the main face of the organisation with borough councillors and officers – are volunteers. Non-trustee volunteers are appointed to serve alongside Trustees on Board subcommittees and a number of volunteers also get involved in detailed campaign work through bodies such as our elected Policy Forum.

Volunteers also make a substantial contribution to the charity’s London-wide campaigns, particularly at election time and when local issues of London-wide significance arise (such as infrastructure improvements at major locations that can be replicated across London).

In addition, a number of volunteers contribute to LCC by helping out with work in LCC’s office at Metropolitan Wharf, often on a regular basis. This element of volunteer contribution has been temporarily halted during the Ciovid-19 restrictions.

27. Legal status of the charity

The company is limited by guarantee and does not have share capital. Each member gives a guarantee of a sum not exceeding £1 to the company, should the company be wound up. No one individual member has control.

40

LONDON CYCLING CAMPAIGN, A COMPANY LIMITED BY GUARANTEE – COMPANY NUMBER 01766411 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Notes Forming Part of the Financial Statements (continued)

28. Financial performance of the charity

The consolidated statement of financial activities includes the results of the charity’s wholly owned subsidiary which earns sponsorship income, advertising income and other non-charitable income.

The summary financial performance of the charity is:

Income
Donations from trading subsidiary
Total income
Cost of raising donations
Costs of other trading activities
Expenditure on charitable activities
Total expenditure
Net (deficit)/income for the year
Total funds brought forward
Total funds carried forward
Represented by:
Unrestricted funds
Restricted funds
Branch funds		 Year ended
Year ended
31 March 2021
31 March 2020
£
£
880,548
1,020,742
57,202
144,326
937,750
1,165,068
81,171
89,414
12,364
27,685
848,031
958,891
941,566
1,075,990
(3,816)
89,078
181,223
92,145
177,407
181,223
122,387
103,472
4,390
-
50,630
77,751
177,407
181,223

41

LONDON CYCLING CAMPAIGN, A COMPANY LIMITED BY GUARANTEE – COMPANY NUMBER 01766411 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Notes Forming Part of the Financial Statements (continued)

29. Financial performance of the trading subsidiary

The wholly owned trading subsidiary, London Cycling Campaign Trading Limited is incorporated in the United Kingdom (company number 09515524, registered office Unit 201 Metropolitan Wharf, 70 Wapping Wall, London, E1W 3SS) and donates all its profit to the charity under the gift aid scheme. London Cycling Campaign Trading Limited earns its income from sponsorship income, advertising income and other non-charitable income.

The summary financial performance of the trading subsidiary is:

Turnover
Cost of sales and administration costs
Net profit
Amount donated to parent charity
Profit/(loss) for the year
Reserves brought forward
Reserves carried forward
Current Assets
Current Liabilities
Total net assets
Share Capital
Reserves
Aggregate share capital and reserves		 Year ended
31 March 2021
£
123,854
(61,663)
62,191
(57,202)
4,989
17,202
22,191
85,212
(63,019)
22,193
2
22,191
22,193		 Year ended
31 March 2020
£
129,191
(71,989)
57,202
(144,326)
(87,124)
104,326
17,202
42,343
(25,139)
17,204
2
17,202
17,204

Included in the results of the London Cycling Campaign Trading Limited is a cost recharge of £61,628 (2020: £72,030) paid to the parent charity, London Cycling Campaign.

A donation of £17,202 (2019: £104,326) in relation to the surplus for the year ended 31 March 2020 was paid to the parent charity in the year. A further £40,000 donation was paid to the parent charity during the year. The balance of the surplus generated in the current year, £22,191, will be donated to the parent charity during the year ending 31 March 2022.

42