REGISTERED COMPANY NUMBER: 05839547 (England and Wales) REGISTERED CHARITY NUMBER: 1124639
TRUSTEES' REPORT AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
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FOR
RECYKE Y'BIKE LTD.
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Read, Milburn & Co 71 Howard Street North Shields Tyne and Wear NE30 1AF
RECYKE Y'BIKE LTD.
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
| Page | |
|---|---|
| Chair's Statement | 1 |
| Trustees' Report | 2 to 6 |
| Independent Examiner's Report | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 to 10 |
| Notes to the Financial Statements | 11 to 21 |
RECYKE Y'BIKE LTD.
CHAIR'S STATEMENT FOR THE YEAR ENDED 30 JUNE 2021
Recyke y’Bike's strength and resilience have enabled us to emerge from one and a half years of Covid disruptions secure and in some ways stronger. The flexibility and commitment of staff have enabled us to adapt and respond to all the problems that have been thrown at us so that we have been able to continue to provide our customers with good quality affordable bikes and to participate in community projects where possible.
For much of the past year Byker has had to operate an appointment system, with all the extra "paperwork" that entails and the Covid precautions have often slowed down how people worked. Where many organisations could have staff working at home this was obviously not possible for our mechanics, some of whom were furloughed. Sara and Savitri did work at home but that meant that extra effort had to be made to ensure that staff did not drift apart. The restrictions also meant that most volunteers had to stay away, which was not good for anyone.
Durham, which is a small shop, had to close to protect staff, so the mechanics were left working on bikes behind closed doors. After a while we were able to have a drop-off arrangement for bikes to be left for servicing.
Despite all this we have processed about 5,000 bikes, sold 1,340 bikes, given away 226 "referral" bikes and passed on 626 bikes to other organisations. We have a healthy bank balance with a separate reserve account and our annual report shows we have done better than break even.
Recyke y'Bike has done well, and the future looks good. Our strengths have not only seen us successfully manage this period of pandemic, but we have had to come together to deal with the threats and as a result we are stronger and able to deal with any future challenges which emerge over the next 6 months.
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RECYKE Y'BIKE LTD.
TRUSTEES' REPORT FOR THE YEAR ENDED 30 JUNE 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Summary of objectives
To develop the capacity and skills of the socially disadvantaged community of the North East of England. Through this, they are better able to identify, and meet their needs, and to participate more fully in society.
To improve the health of the public by encouraging cycling.
To advance the education of all ages of the public in the safe use, re-use and maintenance of bicycles.
The protection and preservation of the environment for the public benefit by saving bicycles from landfill and promoting bicycle re-use and recycling.
Summary of main activities
Sales and servicing
Recyke y'Bike diverts bicycles from landfill and makes good use of all bicycles donated. This includes the salvage of reusable spare parts for onsite use or sale; recycling of recovered metals, donation of spare parts to other projects.
Recyke y'Bike provides a source of reliable, cheap, safe second-hand bicycles to the public who may not otherwise be able to afford a bicycle or who are just starting cycling. Servicing of and repairs to bikes helps customers to keep their bikes on the road in good, safe condition.
Training
Recyke y'Bike provides training in cycle maintenance and safe cycling on a regular basis with cheaper rates to those disadvantaged financially.
Giving
Recyke y'Bike aims to improve people's standard of living by donating bicycles for projects in Africa and providing free refurbished bicycles to the disadvantaged locally through a community bicycle referral scheme.
Volunteers are key to the enterprise and have given freely thousands of hours of their time and energy over the year. Most come one day per week, others more. They come from many walks of life and across the generations to enjoy the sociable and supportive environment at Recyke y'Bike where they can see the benefit of what they contribute. In addition, volunteers receive on the job training in bike maintenance and bicycle mechanics. This augments the volunteering opportunities provided through Recyke y'Bike which benefits them by providing meaningful activity, social interaction and, for some, a pathway to paid employment.
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RECYKE Y'BIKE LTD.
TRUSTEES' REPORT FOR THE YEAR ENDED 30 JUNE 2021
OBJECTIVES AND ACTIVITIES - continued
Outreach and campaigning
Recyke y'Bike promotes cycling events and cycling by providing marshals on rides, stalls at events and mechanics' services in support of charity rides.
Public benefit
The trustees have had regard to the Charity Commission's guidance on their legal duty on public benefit and are satisfied that the charity delivers public benefit. Due regard is also paid to the guidance on public benefit when deciding which new projects to undertake.
ACHIEVEMENT AND PERFORMANCE
This year at Recyke y'Bike
In another year made difficult by Covid restrictions we were able to continue to find safe ways of working that enables Recyke y'Bike's core functions to continue. Some elements such as work with schools and outreach work stopped and started a few times as risk levels changed, but on the whole we were able to adapt provision to make it safe.
Partnerships
We've continued to pass on excess bikes to Key Enterprises and Deerbolt Prison this year. These partnerships work well, enabling excess bikes to be put to good use and ensuring we can safely manage our workshop space. When both partners shut down during lockdowns the impact was clear with bikes piling up and more bikes being dismantled for scrap which otherwise would have been passed on.
We've worked closely with the Byker Children and Young People's Partnership (BCYPP) to develop our offer for young people in Byker. We deliver weekly sessions with the BCYPP manager and Kids Kabin. These sessions focus on teaching children to fix their bikes and carrying out the more complex repairs so that all children have a safe bike to ride.
Byker Primary School have enabled us to deliver a weekly bike club and have also helped us to distribute bikes to families in Byker. We enjoyed participating in the Family Fit Byker project and providing bikes as incentives for participation.
Supported Volunteering
We've continued to provide supported volunteering opportunities for people seeking asylum and young people. Our Saturday Young Volunteers project now has 16 regular participants and a waiting list to join. Unfortunately our work with veterans stopped during Covid as all of the participants have health conditions that make them extra vulnerable and volunteering was too high risk.
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RECYKE Y'BIKE LTD.
TRUSTEES' REPORT FOR THE YEAR ENDED 30 JUNE 2021
ACHIEVEMENT AND PERFORMANCE - continued
Referral bikes
We've continued to provide free bikes, helmets, locks and lights to adults referred to us. Demand went up significantly during lockdowns which meant that at times people were waiting several months for a bike as the waiting list got out of control. We've had to narrow the criteria and commit to doubling the number of bikes given away to 450 this year to keep pace. We have particularly enjoyed providing bikes to local children.
Future plans
We've been seeking a permanent home for our Durham shop and believe we have found one in Chester le Street. This provides more space at lower rent and better access for people dropping off donated bikes or repairs. It also opens up new avenues for community work.
FINANCIAL REVIEW
Financial position
Total income for the year ended 30 June 2021 was £324,521 (2020 - £426,042) of which £38,216 (2020 - £20,826) was subject to restriction. Income for the previous financial year included £60,323 in Government and Local Authority grants intended to support businesses during the Coronavirus pandemic; excluding those grants income has decreased 11% compared to 2020.
Expenditure decreased to £313,329 (2020 - £355,262) with a net surplus of £11,192 (2020 - £70,780).
Total funds of the charity at 30 June 2021 amounted to £148,318 (2020 - £137,126), of which £23,690 (2020 - £15,634) was subject to restriction. Designated reserves (see below) amounted to £77,031 (2020 - £77,157), free reserves amounted to £47,597 (2020 - £44,335).
Reserves policy
The charity intends to set aside sufficient reserves to meet its legal obligations should the need to cease operations arise, however the present financial position of the charity prevents the full amount being designated. The contingency fund is therefore capped at six months' core operating costs.
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RECYKE Y'BIKE LTD.
TRUSTEES' REPORT FOR THE YEAR ENDED 30 JUNE 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Recyke y'Bike Ltd. is a charitable company, limited by guarantee and is governed by its Memorandum and Articles of Association.
Organisational structure
The Board of Trustees . Recyke y'Bike is managed by its board of trustees, meeting six times per year. The board is assisted by three subgroups of trustees, other volunteers and staff, each having their own area of responsibility.
The Finance Subgroup are responsible for overseeing the management of the financial resources.
The Staffing and Volunteers Subgroup manage the working environment of the staff and volunteers.
The Communications and Marketing Subgroup oversee Recyke y'Bike's interaction with the public and the organising of events.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered company number
05839547
Registered charity number
1124639
Registered office
164 Brinkburn Street, Newcastle upon Tyne, NE6 2AR
Trustees
Fernando Andreu Appointed 18 November 2021 Ian Bremner Ronald Conway Appointed 26 November 2020 Ben Hoare Craig Maxwell Marion Talbot
Dorothy Craw Alasdair Wilson Ed Mills Rod Stapley
Resigned 26 November 2020 Resigned 26 November 2020 Resigned 18 November 2021 Resigned 18 November 2021
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RECYKE Y'BIKE LTD.
TRUSTEES' REPORT FOR THE YEAR ENDED 30 JUNE 2021
REFERENCE AND ADMINISTRATIVE DETAILS - continued
Company Secretary
Sara Newson
Independent Examiner
Read, Milburn & Co, 71 Howard Street, North Shields, NE30 1AF
Bankers
Santander UK plc, 2 Triton Square, Regents Place, London, NW1 3AN Triodos Bank UK, Deanery Road, Bristol, BS1 5AS
Solicitors
Peter Millican Law Limited, 5 Waterloo Square, Newcastle upon Tyne, NE1 4DR
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of Recyke y'Bike Ltd. for the purposes of company law) are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the board of trustees on 20 March 2022 and signed on its behalf by:
Craig Maxwell - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF RECYKE Y'BIKE LTD.
Independent examiner's report to the trustees of Recyke y'Bike Ltd. ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2021.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Institute of Chartered Accountants in England and Wales which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Nicholas Liley, FCA Institute of Chartered Accountants in England and Wales Read, Milburn & Co North Shields
22 March 2022
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RECYKE Y'BIKE LTD.
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 JUNE 2021
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 34,453 Charitable activities 5 Charitable activities 247,279 Other trading activities 3 - Investment income 4 141 Other income 4,432 Total 286,305 EXPENDITURE ON Charitable activities 6 Charitable activities 283,919 NET INCOME 2,386 Transfers between funds 19 750 Net movement in funds 3,136 RECONCILIATION OF FUNDS Total funds brought forward 121,492 TOTAL FUNDS CARRIED FORWARD 124,628 |
Restricted funds £ - 38,216 - - - 38,216 29,410 8,806 (750) 8,056 15,634 23,690 |
2021 Total funds £ 34,453 285,495 - 141 4,432 324,521 313,329 11,192 - 11,192 137,126 148,318 |
2020 Total funds £ 33,946 383,292 551 349 7,904 426,042 355,262 70,780 - 70,780 66,346 137,126 |
|---|---|---|---|
The notes form part of these financial statements
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RECYKE Y'BIKE LTD. (REGISTERED NUMBER: 05839547)
BALANCE SHEET 30 JUNE 2021
| Notes FIXED ASSETS Tangible assets 13 CURRENT ASSETS Stock 14 Debtors 15 Cash at bank and in hand CREDITORS Amounts falling due within one year 16 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 19 Unrestricted funds: General fund Capital fund Contingency fund Restricted funds TOTAL FUNDS |
2021 £ 2,031 22,903 5,181 150,730 178,814 (32,527) 146,287 148,318 148,318 47,597 2,031 75,000 124,628 23,690 148,318 |
2020 £ 2,157 21,306 9,947 136,250 167,503 (32,534) 134,969 137,126 137,126 44,335 2,157 75,000 121,492 15,634 137,126 |
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The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 in accordance with Section 476 of the Companies Act 2006.
The notes form part of these financial statements
continued...
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RECYKE Y'BIKE LTD. (REGISTERED NUMBER: 05839547)
BALANCE SHEET - continued 30 JUNE 2021
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 20 March 2022 and were signed on its behalf by:
Craig Maxwell - Trustee
The notes form part of these financial statements
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RECYKE Y'BIKE LTD.
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The presentation currency of the financial statements is the Pound Sterling (£).
Going Concern
The financial statements are prepared on the going concern basis. In the opinion of trustees, no material uncertainties exist about the charity's ability to continue.
Income
Income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Income is stated nett of VAT where applicable.
Income from government and other grants, whether capital or revenue in nature, is recognised when the charity has entitlement to the funds, any related performance conditions have been satisfied, it is probable that income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources (see Allocation of support costs, below).
Irrecoverable VAT is recognised as a cost, charged to the activity under which the related expenditure arose.
Allocation of support costs
Support costs relate to functions of the charity which do not directly undertake charitable activities. Support costs are charged to the activity to which they relate; where they relate to multiple activities they are apportioned on the basis of staff time spent on each activity.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 33% on cost, 20% on cost and 10% on cost Plant and machinery - 50% on cost, 33% on cost and 20% on cost
continued...
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RECYKE Y'BIKE LTD.
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021
1. ACCOUNTING POLICIES - continued
Stock
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the scheme are charged to the Statement of Financial Activities in the period to which they relate.
Debtors
Trade and other debtors (including prepayments) are recognised at the settlement amount due or amount prepaid) net of any trade discounts.
Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments.
Creditors
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are recognised at their settlement amount nett of any trade discounts.
Financial instruments
All financial assets and financial liabilities of the charity qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
continued...
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RECYKE Y'BIKE LTD.
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021
| 2. DONATIONS AND LEGACIES Donations 3. OTHER TRADING ACTIVITIES Fundraising events 4. INVESTMENT INCOME Deposit account interest 5. INCOME FROM CHARITABLE ACTIVITIES Sales, classes and training Grants Grants received, included in the above, are as follows: Government and Local Authority English Sports Council Other grants |
2021 £ 34,453 2021 £ - 2021 £ 141 2021 Charitable activities £ 242,279 43,216 285,495 2021 £ 14,378 - 28,838 43,216 |
2020 £ 33,946 2020 £ 551 2020 £ 349 2020 Total activities £ 292,143 91,149 383,292 2020 £ 60,323 10,000 20,826 91,149 |
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continued...
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RECYKE Y'BIKE LTD.
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021
| 6. CHARITABLE ACTIVITIES COSTS Direct Support Costs (see costs (see note 7) note 8) £ £ Charitable activities 264,867 48,462 7. DIRECT COSTS OF CHARITABLE ACTIVITIES 2021 £ Staff costs 167,325 Rent, rates and utilities 36,348 Repairs and renewals 2,018 Printing, postage, stationery and IT 1,598 Advertising and marketing 725 Cost of goods sold 50,863 Training and volunteer costs 1,932 Bank charges 3,377 Bad and doubtful debts - Depreciation 681 264,867 8. SUPPORT COSTS Management and Governance administration costs £ £ Charitable activities 44,308 4,154 9. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): 2021 £ Depreciation - owned assets 876 Independent examiner's remuneration 750 Operating lease costs 28,000 |
Totals £ 313,329 2020 £ 193,608 47,081 184 1,034 864 63,383 2,309 3,114 116 788 312,481 Totals £ 48,462 2020 £ 1,205 725 28,000 |
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RECYKE Y'BIKE LTD.
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021
10. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 June 2021 nor for the year ended 30 June 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 June 2021 nor for the year ended 30 June 2020.
11. STAFF COSTS
| STAFF COSTS | ||
|---|---|---|
| Wages and salaries Social security costs Other pension costs |
2021 £ 179,880 6,406 7,576 193,862 |
2020 £ 198,051 7,831 8,115 |
| 213,997 |
The average monthly number of employees during the year was as follows:
| Management and administration Charitable activities |
2021 2 8 10 |
2020 2 9 |
|---|---|---|
| 11 |
No employees received emoluments in excess of £60,000.
The key management personnel, including the trustees, are listed under Reference and Administrative Details. The total employee benefits of the key management personnel, including Social Security, were £34,045 (2020 - £34,063).
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RECYKE Y'BIKE LTD.
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021
| 12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted funds funds £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 33,946 - Charitable activities Charitable activities 362,466 20,826 Other trading activities 551 - Investment income 349 - Other income 7,904 - Total 405,216 20,826 EXPENDITURE ON Charitable activities Charitable activities 335,637 19,625 NET INCOME 69,579 1,201 RECONCILIATION OF FUNDS Total funds brought forward 51,913 14,433 TOTAL FUNDS CARRIED FORWARD 121,492 15,634 |
Total funds £ 33,946 383,292 551 349 7,904 426,042 355,262 70,780 66,346 137,126 |
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RECYKE Y'BIKE LTD.
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021
13. TANGIBLE FIXED ASSETS
| Improvements to Plant and property machinery £ £ COST At 1 July 2020 528 11,477 Additions - 750 Disposals (528) (1,284) At 30 June 2021 - 10,943 DEPRECIATION At 1 July 2020 528 9,320 Charge for year - 876 Eliminated on disposal (528) (1,284) At 30 June 2021 - 8,912 NET BOOK VALUE At 30 June 2021 - 2,031 At 30 June 2020 - 2,157 14. STOCK 2021 £ Raw materials 16,514 Finished goods 6,389 22,903 |
Totals £ 12,005 750 (1,812) 10,943 9,848 876 (1,812) 8,912 2,031 2,157 2020 £ 19,412 1,894 21,306 |
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continued...
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RECYKE Y'BIKE LTD.
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021
| 15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors Prepayments and accrued income 16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Social security and other taxes Other creditors Accruals and deferred income 17. LEASING AGREEMENTS |
2021 £ 1,394 1,230 2,557 5,181 2021 £ 7,968 5,963 1,870 16,726 32,527 |
2020 £ 1,040 2,212 6,695 9,947 2020 £ 4,180 2,918 1,188 24,248 32,534 |
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Minimum lease payments under non-cancellable operating leases fall due as follows:
| Within one year Between one and five years 18. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted funds £ Fixed assets 2,031 Current assets 155,124 Current liabilities (32,527) 124,628 |
Restricted funds £ - 23,690 - 23,690 |
2021 £ 28,000 49,000 77,000 2021 Total funds £ 2,031 178,814 (32,527) 148,318 |
2020 £ 28,000 77,000 105,000 2020 Total funds £ 2,157 167,503 (32,534) 137,126 |
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continued...
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RECYKE Y'BIKE LTD.
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021
19. MOVEMENT IN FUNDS
| At 1/7/20 £ Unrestricted funds General fund 44,335 Capital fund 2,157 Contingency fund 75,000 121,492 Restricted funds Restricted grants 15,634 TOTAL FUNDS 137,126 Net movement in funds, included in the above are as follows: Unrestricted funds General fund Capital fund Restricted funds Restricted grants TOTAL FUNDS |
Net movement in funds £ 3,262 (876) - 2,386 8,806 11,192 Incoming resources £ 286,305 - 286,305 38,216 324,521 |
Transfers between At funds 30/6/21 £ £ - 47,597 750 2,031 - 75,000 750 124,628 (750) 23,690 - 148,318 Resources Movement expended in funds £ £ (283,043) 3,262 (876) (876) (283,919) 2,386 (29,410) 8,806 (313,329) 11,192 |
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RECYKE Y'BIKE LTD.
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021
19. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | Transfers | |||
|---|---|---|---|---|
| movement | between | At | ||
| At 1/7/19 | in funds | funds | 30/6/20 | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 33,691 | 70,784 | (60,140) | 44,335 |
| Capital fund | 1,605 | (1,205) | 1,757 | 2,157 |
| Contingency fund | 16,617 | - | 58,383 | 75,000 |
| 51,913 | 69,579 | - | 121,492 | |
| Restricted funds | ||||
| Restricted grants | 14,433 | 1,201 | - | 15,634 |
| TOTAL FUNDS | 66,346 | 70,780 | - | 137,126 |
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Capital fund Restricted funds Restricted grants TOTAL FUNDS |
Incoming resources £ 405,216 - 405,216 20,826 426,042 |
Resources Movement expended in funds £ £ (334,432) 70,784 (1,205) (1,205) (335,637) 69,579 (19,625) 1,201 (355,262) 70,780 |
|---|---|---|
Restricted Grants
Restricted grants comprise funding to which conditions are attached along with the related expenditure. Income during the year includes £8,878 from Central Government under the Job Retention and Cycle Repair Schemes; £7,000 from the Sage Foundation for the Get Byker Biking! project; and £7,403 from the National Lottery Community Fund supporting the provision of referral bikes. There were no material balances on individual funds at the balance sheet date.
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RECYKE Y'BIKE LTD.
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021
19. MOVEMENT IN FUNDS - continued
Capital fund
The capital fund represents the charity's illiquid, non-current assets which are therefore not freely available. Amounts are transferred to this fund on capitalisation of the related expenditure and charges against this fund represent depreciation of those assets.
Contingency fund
In the event of a loss of income, an amount has been set aside to cover the costs of a controlled closure of operations. This amount has been calculated based on an estimate of six months' running costs of the organisation (including property rental costs). Transfers to/from this fund are in line with movements in the expected liabilities.
20. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 June 2021.
21. LEGAL STATUS
Recyke y'Bike Ltd. is a company limited by guarantee, registered in England and Wales and has no share capital. The company's registered number and registered office address can be found within Reference and Administrative Details.
The liability of members is limited. Every member promises, if the charity os dissolved while he or she remains a member or within 12 months afterwards, to pay up to £1 towards the costs of dissolution and the liabilities incurred by the charity while he or she was a member.
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