**REGISTERED COMPANY NUMBER: 05839547 (England and Wales) REGISTERED CHARITY NUMBER: 1124639**
## **TRUSTEES' REPORT AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022**
## **FOR**
**RECYKE Y'BIKE LTD.**
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 2022**
||**Page**|
|---|---|
|**Trustees' Report**|1 to 5|
|**Independent Examiner's Report**|6|
|**Statement of Financial Activities**|7|
|**Balance Sheet**|8 to 9|
|**Notes to the Financial Statements**|10 to 20|
**RECYKE Y'BIKE LTD.**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 30 JUNE 2022**
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 2022. 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 providing free refurbished bicycles to the disadvantaged locally through a community bicycle referral scheme and donating bikes for projects in Africa.
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.
Page 1
**RECYKE Y'BIKE LTD.**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 30 JUNE 2022**
## **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**
As we emerged from Covid restrictions we were able to resume our normal activities, engaging in outreach work and involvement with schools.
In last year's report we mentioned our search for new premises to replace our Durham shop and in July 2022 we opened our smart new shop and workshop in Chester le St. The move was very disruptive but our arrival has been widely welcomed and we hope we will make an impact in the town. The premises had been refurbished to a high standard by our helpful landlord and they are easy to access (and to heat).
## **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.
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.
We have donated about 30 bikes to Africawad, which shipped them to schoolchildren in Togo. However, they have reported that shipping costs are now prohibitive, so the future is uncertain.
## **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 had health conditions that make them extra vulnerable and volunteering was too high risk.
Page 2
**RECYKE Y'BIKE LTD.**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 30 JUNE 2022**
## **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 with lockdowns and the arrival of Ukrainian refugees, which meant that at times people were waiting several months for a bike, but we managed to give away 228 bikes this year. We have particularly enjoyed providing bikes to local children.
## **Future plans**
Sadly our manager Sara announced she was leaving in September 2022, so the trustees have been engaged finding a replacement. After the disruption caused by Covid and then the move to Chester le St we are looking for a period of stability before we look for new challenges.
## **FINANCIAL REVIEW**
## **Financial position**
Total income for the year ended 30 June 2022 was £388,397 (2021 - £324,521) of which £58,287 (2021 - £38,216) was subject to restriction. Income has increased 20% compared to 2021.
Expenditure has increased 18% to £368,687 (2021 - £313,329) with a net surplus of £19,710 (2021 - £11,192).
Total funds of the charity at 30 June 2022 amounted to £168,028 (2021 - £148,318), of which £25,942 (2021 - £23.690) was subject to restriction. Designated reserves (see below) amounted to £78,729 (2021 - £77,031), free reserves amounted to £63,357 (2021 - £47,597).
## **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.
## **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.
Page 3
**RECYKE Y'BIKE LTD.**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 30 JUNE 2022**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT - continued**
**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**||
|---|---|
|Ronald Conway||
|Ben Hoare||
|Craig Maxwell||
|Sara Newson|Appointed 15 December 2022|
|Simon Pearson|Appointed 15 December 2022|
|Oliver Priestly-Leach|Appointed 15 December 2022|
|Marion Talbot||
|Ed Mills|Resigned 18 November 2021|
|Rod Stapley|Resigned 18 November 2021|
|Fernando Andreu|Appointed 18 November 2021, resigned 15 December 2022|
|Ian Bremner|Resigned 15 December 2022|
|**Company Secretary**||
|Neil McGowran||
## **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
Page 4
**RECYKE Y'BIKE LTD.**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 30 JUNE 2022**
## **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 Trustees' 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
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- 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 21 March 2023 and signed on its behalf by:
Craig Maxwell - Trustee
Page 5
## **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 2022.
## **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 the 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:
1. 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
3. 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
4. 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
- 21 March 2023
Page 6
## **RECYKE Y'BIKE LTD.**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 JUNE 2022**
|Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
32,815
**Charitable activities**
4
Charitable activities
290,664
Investment income
3
273
Other income
6,358
**Total**
330,110
**EXPENDITURE ON**
Raising funds
5
837
**Charitable activities**
6
Charitable activities
311,815
**Total**
312,652
**NET INCOME**
17,458
**RECONCILIATION OF FUNDS**
Total funds brought forward
124,628
**TOTAL FUNDS CARRIED FORWARD**
142,086|Restricted
funds
£
-
58,287
-
-
58,287
-
56,035
56,035
2,252
23,690
25,942|2022
Total
funds
£
32,815
348,951
273
6,358
388,397
837
367,850
368,687
19,710
148,318
168,028|2021
Total
funds
£
34,453
285,495
141
4,432|
|---|---|---|---|
||||324,521|
||||-
313,329|
||||313,329|
||||11,192
137,126|
||||148,318|
The notes form part of these financial statements
Page 7
## **RECYKE Y'BIKE LTD. (REGISTERED NUMBER: 05839547)**
## **BALANCE SHEET 30 JUNE 2022**
|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**|2022
£
3,729
13,971
9,245
171,402
194,618
(30,319)
164,299
168,028
168,028
63,357
3,729
75,000
142,086
25,942
168,028|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|
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2022 in accordance with Section 476 of the Companies Act 2006.
The notes form part of these financial statements
continued...
Page 8
## **RECYKE Y'BIKE LTD. (REGISTERED NUMBER: 05839547)**
## **BALANCE SHEET - continued 30 JUNE 2022**
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (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 21 March 2023 and were signed on its behalf by:
Craig Maxwell - Trustee
The notes form part of these financial statements
Page 9
**RECYKE Y'BIKE LTD.**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022**
## **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.
Plant and machinery - 50% on cost, 33% on cost and 20% on cost
## **Stock**
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
continued...
Page 10
**RECYKE Y'BIKE LTD.**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2022**
## **1. ACCOUNTING POLICIES - continued**
## **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.
## **2. DONATIONS AND LEGACIES**
|**DONATIONS AND LEGACIES**|||
|---|---|---|
||2022|2021|
||£|£|
|Donations|32,815|34,453|
continued...
Page 11
**RECYKE Y'BIKE LTD.**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2022**
|**3.**
**INVESTMENT INCOME**
Deposit account interest
**4.**
**INCOME FROM CHARITABLE ACTIVITIES**
Sales, classes and training
Grants
Grants received, included in the above, are as follows:
Government and Local Authority
Other grants
**5.**
**RAISING FUNDS**
**Raising donations and legacies**
Collection charges
**6.**
**CHARITABLE ACTIVITIES COSTS**
Charitable activities|Direct
Costs (see
note 7)
£
317,635|2022
£
273
2022
Charitable
activities
£
290,664
58,287
348,951
2022
£
5,050
53,237
58,287
2022
£
837
Support
costs (see
note 8)
£
50,215|2021
£
141
2021
Total
activities
£
242,279
43,216
285,495
2021
£
14,378
28,838
43,216
2021
£
-
Totals
£
367,850|
|---|---|---|---|
continued...
Page 12
**RECYKE Y'BIKE LTD.**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2022**
## **7. DIRECT COSTS OF CHARITABLE ACTIVITIES**
|2022
£
Staff costs
201,028
Rent, rates and utilities
36,923
Repairs and renewals
894
Printing, postage, stationery and IT
2,036
Advertising and marketing
1,154
Cost of goods sold
62,148
Training and volunteer costs
3,072
Bank charges
4,246
Other activity costs
5,417
Depreciation
717
317,635
**SUPPORT COSTS**
Management
and
Governance
administration
costs
£
£
Charitable activities
45,914
4,301
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
2022
£
Depreciation - owned assets
976
Independent examiner's remuneration
775
Operating lease costs
28,000|2021
£
167,325
36,348
2,018
1,598
725
50,863
1,932
3,377
-
681
264,867
Totals
£
50,215
2021
£
876
750
28,000|
|---|---|
|||
## **8. SUPPORT COSTS**
## **9. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
## **10. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 30 June 2022 nor for the year ended 30 June 2021.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 30 June 2022 nor for the year ended 30 June 2021.
continued...
Page 13
**RECYKE Y'BIKE LTD.**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2022**
## **11. STAFF COSTS**
|Wages and salaries
Social security costs
Other pension costs|2022
£
209,286
9,743
9,057
228,086|2021
£
179,880
6,406
7,576
193,862|
|---|---|---|
The average monthly number of employees during the year was as follows:
|Management and administration
Charitable activities|2022
2
9
11|2021
2
8
10|
|---|---|---|
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 £35,266 (2021 - £34,045).
continued...
Page 14
**RECYKE Y'BIKE LTD.**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2022**
|**12.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
Restricted
funds
funds
£
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
34,453
-
**Charitable activities**
Charitable activities
247,279
38,216
Investment income
141
-
Other income
4,432
-
**Total**
286,305
38,216
**EXPENDITURE ON**
**Charitable activities**
Charitable activities
283,919
29,410
**NET INCOME**
2,386
8,806
**Transfers between funds**
750
(750)
**Net movement in funds**
3,136
8,056
**RECONCILIATION OF FUNDS**
Total funds brought forward
121,492
15,634
**TOTAL FUNDS CARRIED**
**FORWARD**
124,628
23,690|Total
funds
£
34,453
285,495
141
4,432|
|---|---|
||324,521|
||313,329|
||11,192
-|
||11,192
137,126|
||148,318|
continued...
Page 15
**RECYKE Y'BIKE LTD.**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2022**
|**13.**
**TANGIBLE FIXED ASSETS**
**COST**
At 1 July 2021
Additions
Disposals
At 30 June 2022
**DEPRECIATION**
At 1 July 2021
Charge for year
Eliminated on disposal
At 30 June 2022
**NET BOOK VALUE**
At 30 June 2022
At 30 June 2021
**14.**
**STOCK**
Raw materials
Finished goods
**15.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Other debtors
Prepayments and accrued income|Plant and
machinery
£
10,943
2,674
(330)
13,287
8,912
976
(330)
9,558
3,729
2,031
2022
2021
£
£
10,717
16,514
3,254
6,389
13,971
22,903
2022
2021
£
£
3,292
1,394
564
1,230
5,389
2,557
9,245
5,181|
|---|---|
|||
continued...
Page 16
## **RECYKE Y'BIKE LTD.**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2022**
## **16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income|2022
£
9,473
3,329
2,134
15,383
30,319|2021
£
7,968
5,963
1,870
16,726
32,527|
|---|---|---|
## **17. LEASING AGREEMENTS**
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
3,729
Current assets
168,676
Current liabilities
(30,319)
142,086
**19.**
**MOVEMENT IN FUNDS**
At 1/7/21
£
**Unrestricted funds**
General fund
47,597
Capital fund
2,031
Contingency fund
75,000
124,628
**Restricted funds**
Restricted grants
23,690
**TOTAL FUNDS**
148,318|Restricted
funds
£
-
25,942
-
25,942
Net
movement
in funds
£
18,434
(976)
-
17,458
2,252
19,710|2022
£
28,000
21,000
49,000
2022
Total
funds
£
3,729
194,618
(30,319)
168,028
Transfers
between
funds
£
(2,674)
2,674
-
-
-
-|2021
£
28,000
49,000
77,000
2021
Total
funds
£
2,031
178,814
(32,527)
148,318
At
30/6/22
£
63,357
3,729
75,000
142,086
25,942
168,028|
|---|---|---|---|
continued...
Page 17
**RECYKE Y'BIKE LTD.**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2022**
## **19. MOVEMENT IN FUNDS - continued**
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
£
330,110
-
330,110
58,287
388,397|Resources
Movement
expended
in funds
£
£
(311,676)
18,434
(976)
(976)
(312,652)
17,458
(56,035)
2,252
(368,687)
19,710|
|---|---|---|
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
Capital fund
Contingency fund
**Restricted funds**
Restricted grants
**TOTAL FUNDS**|At 1/7/20
£
44,335
2,157
75,000
121,492
15,634
137,126|Net
movement
in funds
£
3,262
(876)
-
2,386
8,806
11,192|Transfers
between
funds
£
-
750
-
750
(750)
-|At
30/6/21
£
47,597
2,031
75,000
124,628
23,690
148,318|
|---|---|---|---|---|
continued...
Page 18
**RECYKE Y'BIKE LTD.**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2022**
## **19. MOVEMENT IN FUNDS - continued**
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
£
286,305
-
286,305
38,216
324,521|Resources
Movement
expended
in funds
£
£
(283,043)
3,262
(876)
(876)
(283,919)
2,386
(29,410)
8,806
(313,329)
11,192|
|---|---|---|
## **Restricted Grants**
Restricted grants comprise funding to which conditions are attached along with the related expenditure. Income during the year includes £10,000 from the Sage Foundation for the provision of referral bikes and training, and £11,250 from the Wellbank Foundation supporting asylum seekers and young volunteers. There were no material balances on individual funds at the balance sheet date.
## **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 2022.
continued...
Page 19
**RECYKE Y'BIKE LTD.**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2022**
## **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.
Page 20