COMPANY REGISTRATION NUhlBER: 06708913 ¢%[T¥ 8E&ISTII4T£O WuBEL. gg26257 Bikeability Wales Company Limlted by Guarantee Unaudited Financial S tements 31 March 2025 GORDON DOWN & COMPANY LIMITED Accountants and business advisors 144 Walter Road Swansea SA15RW
Blkeablllty Wales Company Limitsd by Guarantee Financial Statsmpnts Year ended 31 March 2026 Page Trustees, annual report (.incorporating the director's report) Independent examinerfs report to the triJst8es Statement of financial activities (includinq income and expenditure account) 11 12 ststemant of financiat posttion 13 Notes to the financial statements 14 The followina _pages do not form part of the financlal statements Detailed statement of financial activitie8 23 Notes to ttB detailed statsnwrt of finan. cli. 25
Blkeability Wales Company Llmitsd by Guarantee Trustses. Annual Report (In¢orporatlng tho Director* Report) 31 Maroh 2026 The trustegs, who are also the directors for the purposes of company law, present thgir roport and th8 unaudted finanatal statements of the charRty hr the year onded 31 2Q25. R•fer•n¢• and admfnlstratlve d•talls fteglstered oharlty nam• Blkeability Wales Charlty re91son numbor 1126297 Company rng1strat-ll numbfjr IK708913 Principal office and regist8r•d The Environment Cantre office Pier Street West Glamorgan Th• trustms Ms M Sheood Mrs C Jones V A Wllk3ms Independ•nt examln•r Carl West ACA 144 Walter Road SA.£ 5RW 8tn4Cture, 9ov•rnanc• and manag•m•nt The Management Committee confims that the annual report and financlal statements of the ¢harity comply with th8 requirements of Ihe charity's governing documents and the provisions of the Statemant of RecornnTrnded Practi 2Q05 (SQRP 21J05). L•gal status The Charity is a company, limited by guarantee, registration number 06708913. It is reglstered wlth the Charty Comm£s5i0n, number 1126297.
Blkeablllty Wales Company Limitsd by Guarantee Trustees, Annual Report (Incorporatlng the Dlrectorfs Report) (aonllnuedj Year end 31 March 2026 8truotur•i gov¢manrs• and management (c4>n#nu¢dJ Mothod of Appolntm•Tht The Management of the Charity is the responsibiIlty of the Manaaement Commlttee and its offlcers who are elgGted and c(>opted und8r the tenns of the Chatryty Cornmlssion Schomg. Tha dlrectors of the company ar8 al charity trustees for the purpose of ch8Yity Eaw. As the charity's work has a focus on various aspects of cycllng includinG the health arKI social benefits, the Managemont Cuinmtttfi8 seeks to ellSu that its knowledge is approprl*ly refieclod thrauah the dIVeity of the truste8 body. Tru5tg&8 ar& also se19Cted for thgir organisational and financial management, networklng and publlclty skills In an effort to maintain this broad skill mix, member6 of the Management Committee are requested fo provide a tist of their skills and in the event of partjcular skllls being lost due to retirements, individuals are approached to offgr themselves for pleGtion. Trusto• Anduofion and tr41nlng The trustees are familiar with the practlcal work of the charity and are encouraged to assist wlth the charity's acuvttles and events. New twstees are invlted and encouraged to seek advice from employees and more experienced trustees concemlng: Obllgations of Management Commlttee members, The rnain dDcuments whlch set out the op8ration81 fnamaworkfoi the charity. Resourcing and the current financlal posftlon as set out h7 the latest published accounts. Futuro Plans and objethes.
Blkeablllty Wales Company Limitod by Guarantso Trustees. Annual Report (Inoorporatlng the Dlroctor's Report) (oondnued) Y ar endg roh 2026 Structure¥ governan¢e And management (¢onllnu•dJ Rtsk Nlanag•mont The Management Committee conducts an annual revlew of au of the malor risks to whlch the charity is oxposed and su.bsequently focuses on highest priority risks durlng each Committee meeting. PrOdureS and acttons to tAke are established to milu. any rlsks tha charity far•VS. During 2024-25, the Management Committee implemented the findings of their review into SeiceS and staffing. This was done in line with th& established risk appetite and in 0er trj mitigate risks identified. These Idtified risks include those to managemenc 8lafEng, and e¥aluation and monltorino capadty. Thelr flrst aGtlon was to undertake recrulthient of a Director to lead 2 strategic review of the organisation and a fujl staff restructure consult8tion. The new l)Irector took up thelr post In May 2024 and worked with the stsff team tn develop and delfver an fn-year bustness plan and a lon er-term strategy. These plans successfully mitigated immediatg 8Xtemal and intemal risks and established affective ongoing risk management prQaedu& Thosg inGluded: A new diverslfied fundraislng strategy that incre8sed Indlvldual givtna donatlons and grant fundlng alongside M.{mIsed trading income Management of Internal financial risks through the implementatlon of prOdreS for authorls8tlon of all transactions and projects. Procedures to ensure compliance with health and 8afety of staff, volunteers, dlenls and vlsltors to our venue. N6uotlatlon of a flve year lea for the BikeAbllity Wales maln dellvery venue, Risk Managem6nt procedure8 ere p]Qd&1 reviowed to ernsU Uwt they a(Intinue to meet the needs of the charity, In Ilne wlth the approach taken to all organlsational policies and procedure8. The Dlrector kegps trustees infortngd of any effle1ng risks to thg i>roanisation through regular dlscusslons In bèlween fomial quarterly mpetlJTg8. Key management remungration The board of trustses togethor with k9y Staff member6 are considered to be the key management personngj of the charity. Details of payments to]from Trustees are disclosed in note 14 to Ihe acGounL8. Payments made to othe.r key manaaemenl personnel are glven in note 13. Thg Eevel of payment mado to all key management personnel is reviewed annually by Trustee8. Organlsatlonal struotur• During the period covered by thÉs report the ch8rity had 4 truste&8 from a vadety of professlonal backgrounds relevant to the work of the charlty. The govemlng document states that the charity shall not have less that) three trustses and is nat subiect to a MlmU Trustees meet Quarterly and are responsible for ttie stratagkc directlon and poliGy of the charity.
Bikeabillty Wales
Company Ltmlted by Guarantee
Trustsos, Annual R•port
Bikeabillty Wales Company Llmltsd by Guarantee Trust••s' Annual R•port (Inoorporating the Dlrectoffs Report) fcontlnued) Y8ar ondod 31 Mar¢h .2025 An online survey conducted In September 2024 asked about the v8lu6 of BikeAbillty W81è8 to the local communlty. 98.5¥ts of the 65 respondents told us that th8 charity is important or very important to the communlty In Swansea. The charity also recelved qualitative feedback throughout the year. Testlmonials we recelved Induded the followlnll ststements: "My coach was am8zlng: patlènt, kind and funny. l am regtstered disabled with lung conditions and mobility issues. To say I was anxlous, ner4ous and frightened before the ride Is an understatement. The whole team were so suppothe. I feel this will change my rife, emotionally, physicalty and in ati sorts of way5, 1 c8nnot bell6ve what I have achieved with the team's support. I will spreÈd the word to people Ilke myself. Best resource In Swanse&" It was a y88r of posftwe renewal for the charity as an organlsatlon. Th& Director and staff worked together to refresh and enhan service prcNlslorJ and to establlsh a staffirsg structure that priorit10ed wellbelng and appropriate workloads. As a r88uK BlkeAbility Wales was abl8 trj rgn6w and build upon tts role as the primary provider of inclusive cycllng acttvities in Swansea. BlkeAbillty Wales, work In partnership with Swan88a University to suppnrt Swansea's Nextbike Cycle Share Scheme came to an end in November 2024. A new contract for thi8 work was affered by the parent company for the schemp, TieT Bikes (now known as Dott after a subsequent rnerger) on terrns whlch did not rafl8ot the natwek of BlkeAbility Wales as a small Glwity. As a resul( a d8Gision was taken by trustees that it would be more approprlate to hand over the contract to a larger provider, T16r Bikes conducted a process which resulted In the contract belng handed over to Veloglk. Negotlaifons were undertaken on e TUPE transfer basls whld) would have provlded employment contracts on the same ter as that offered by BikeAbility Wales. However, both the independent eontr8Ctor Chrts Walsh and the employed maintenance officer Mark Hodgson dedded that they would lie to movè on from their roles, feeling that this was a posttlve mov& for the
Blkeability Wales Company Limited by Guarantee Truste•s' Annual Roport (Incorporating th• Dlr•ctorfs Roport) (eonllnu•d) Year endqd 31 March 2025 Oblecthi•s and aotivlties {eontlnu¢dJ Yolunt•ws Throughout the year there have been a total of approximately 16 r6gular volunteers who have provlded in the region of 615 valuable working hours. They have brought with them a varlely of Skills which haye been extremety importanl for the smooth njnning of the projec( these andude.. _ H8lplng clients Assisting at cyde sessions and outreach events Maintaining the bikes and vgnue wntainers Providing admin18tratlve as8i8tance Updating the website and social media. Aldino with publicity Informal training ha¥ been wovided, which Included'.- Basic wGIg maJ"ntenancp. and repair5 Specialist cyde rna1ntenan and repatrs How to run cycle sessions IT and media £kills Project adminlstratFon I to 1 teaching chEldren & adults to ride We received excellent feedback from our volunteers throuuhout the year. One volunt8er, who joined us 2024, said "BikeAblllty Wales is one of my most favourite charities as It really cares about the People we support and oives them access to be able to have fun, leaTn new skilts. Get exerclse and be n nature. The satisfaction of seeing people SMI and genuinely feeling happy to be cycling is somewhat Indescrlbable. I would en¢ourage anyone who wants to help people, be part of a team, develop th8mselves in ways they haven't thought of. orjust oiving back tri volunfeer for BikpAbility as it is something no one wlll rearet but in fact wilj Thke you a better person and ueate lifelong memories."
Bikeablllty Wales Company Limitsd by Guaranteg Trustoos. Annual Report (Incorporatlng tho Dlroctor's Report) (eontlnu8d) Year ondgd 31 March 2025 AohlvèmDnts and performanc? DunvantVww• b25Wp .13¥fA6 Dunvant Venu• bas•d a¢tivitles Approxim8lely 65 people from NHS, care and housing provlders, charit16s and loc schools vlsited us on a weekly basis. This meant that they were able fo develop 8 regular exercise and Tpcreation schedule which had a very positive impact on their physlc£l and mental wellbeing. Of the individuals and families who Visited many were disabled, neuKJdNerse, recovering from illness or Injury, or experfencing mental health problems or finanu-al challenges. During the 2024-25 finanolal ye£r, th& organisatton was staffed by the Dlrector, Laur8 Courtney, alongside Ceri Ann Mattriews, who transferred from the role of Manager to that of Senlor Cycllng Officer followlng a staff restruGture. This enabled Cperi Ann to focus on dejivering services that reflect her experience and &xpeTbse in supporting people to select and use adapted bikes and teaching peop to rfd8, It also ensured that the Director Is able to focus on fundralsing, staff management, governance, finan ond stratsgic development. In early 2025, Hollie Norman was recruited to the role of Cycllng Offir and Mark Hodgson took on the role of MechaniG and maintenan Officer. Assistance wlth cycling sessions, training, mainlenance, and administration continued to be supported by both sessional workers and voluntegts. All the staff havo ensured that th8 organisation has contlnued to deliver its aims and ob}ectiV8S. The new staff Structu has enabEed a suslarnable aw)mach to dellvery whlch ensures that at least two pald memb8rs of staff ar8 always available onstte alongside experlencèd volunteers. However, as volunteers slill play a major role in the dollvery of servlees, exploring opportunities to inGrease staff capacity for yolunteer recruitment and support has been identified as 8 stratggiG objeGtive ft)r the 2025-26 financial year. Organisational staff enabled the runnlng of regular, busy sftssions belwgen Tugsday and Saturday wlth an average of 235 participants a month Including carers. Opening hours ware 86t at 10am 3.30pm on Tuesdays, Wednesdays and Thursdays and 1 Oam - 12pm on Saturdays to reflect the need to ensu that there were always al least Iwo paid staff onsite and to ensure tinancial sustainablllty. Throughout thg ypar therg wpre a total of 2356 vigils to cycle sesslons.
Blkeability Wales Company LimKted by Guarantoo Trusts08' Annual R•port (Incorporatlng th• Dlrector's Report) (eonllnufjdj Yaar ended 31 Mar¢h 2 Achlevements and perform4n¢• (conllnu¢dJ A wlde range of free of charge avenis took place both at the v8nue in Dunvant and on the Clyne Valley and Swansea Bay Cycle paths. In Auoust and September 2024, BikeAbllity Vvales provlded free gusded rldes for groups of people who experience barri8rs to cycling and their families or carers. This Included a aroup from Foster Wales, members of the Swansea Council for Voluntsry Services BAME outreach group and adults with mental health problems. We also provlded.. Free weekly Companion Rid8s fromApnl to November 2024 and in March 2025. Onslts spssions and gulded rides for people aged 50 and over in January and February Free Introductory sessions for new and returning groups of disabled people in March 2025. ProJ"8ct funding was providgd by several fimde.rs I[uding. slanSea Councll - COAST Summer of Fun Activity Grant and COAST Wlnter of Wellbeing GranL Austln Bailey Foundation confidence bulldlng rides, Oakfleld Tnjst - Frefi introductory sessions for new and retuming groups of disabled people and others who woukl Oth9lSe be e.xcluded frorn cyclln.q. Nattonal Lottery Awards for All - Funding to employ a Cycling Officer for one year. Core fundlng grants to support all of our acttyitEes were provided by. Garfield Weston Foundatlon Companion rld&s, guided tand6m rides and women only PostcDde Communily Trust Community Foundation Wales - Fund for Wales Donatlons from organlsatlons and In(fividuaKs also pEayed a part In ensuring thg financial sustainabtiity of the organlsatlon. N6w fvndralsing platfonns were introduced including Easyfvndralsing, through whlch companies donate whan customers shop online, and Lotto Abertawe, a Jocal communlty lottery for which BlkeAbllity Wales is a 'good cause,. We were dellghted to receive 8 large donation from James Myles Thomas. JaThs has visu81 and mobillty impaiFTnents and uses an glectric SKte by side h8nd Gycle. He raised oyer £750 for BikeAbility Wales by comp16ting his thallenge to cycle the eqijivalpnt of the distance betwep.n London and Parfs. We were dellghted to celebrate his success by cheerlng hlm back to our Dunvant s&te as he completed his last mlle on the bLke. Cyole Coachlng and Training BlkeAbility Wales has continued to develop the r8nge of both Infornal and formal tralnlng that It provides. Throuuhout the year the charity delivered 209 one to ang learrk to rlde session& whÉch were tallored to tha particular needs and abllitles of each partlclpant. A total of 8 formal Natlonal Cycl& Stand8rds 1 and 2 training sessions took pla, tralning 40 participants, comprlslng 25 to Level 1 arKI 12 to Leyej 2. Management of Swansea's 8antander l Nèxtbike sch•me The charity continued to manage tha Nexlbikp sGheme in partnershlp witli 8w8nsea Universty
Blkeablllty Wales Company Llm.Itod ty Guants Trustses. Annual Report (InoorpDrating the Diroctots Report) (¢ontlniMd) Yw 8nd8d 31 March AGhi•vgmonts and p•rforman¢• (¢onthiu•d) betrNaen April ar NavAnkn 2Q2.4. Corth7rt. fundiwwaxprovAd8d. Naxt Bike. undw the ownersh of Tier Bike for rna1ntenan and redistribution seNices for the Santander rental bike scheme in conjunction with Swansea Univorsity and Nexl &'kfi BikeAbility Wales provided maintenance and redistribution services for 70 bTri es located in 8 stations set along Swansea's seafronl. The schemo wa8 run from a wothshop at swansea Univeity'S Singleton CatTWS, It. was h¥ Chris. Vthh, wth mainaTr and redisthution provlded by mechanic Math HodgsoYL Flnanclal revlew The Charfty's net tncome for the year amDunted to £9,734 (compared to £8,296 net outgolngs In 2023]24). The restrlcted Incomino resources for the year of £34,389 consists of grent Income received. These funds were expended on salaries. equipmen* a.nd agreed oyethead& Any unspBnt Tevenue incomé is carried forward to the next year. The tot81 unrestrfcted funds 8t the end of the year represent the Char5tls free reserves and amounted to £48,820 (£59,209 - 2023124). The totsl reStrIct reserves at the year flnd allytta£a Investment Policy The charity dwn.not presently have an inve$tment policy. Reserv•s Poli¢y The t{uSt baya set&res¢¥v8spolir¥ wbiGh ¥Equire& Reserves b8 maintained 8t a lev81 which 8nsur85 that the Drganisation's corp actlvlty Gould continue during a one year period of unforeseen difficulty by retaning l year of staff salary in rfjserv8. ( £35 000 budgeted. based on the year 20111fj 2Q%2). The proportl¢)n of reseNes to be malntained In a readily realisabk form should be £10,000 per annu Total to be retained in reserve." £45,000 This calculation of the required leyej of resenies Is an Inteural part of the organisatlon's planning, budoet 9.nd forecast cyeAp. The reserves pollcy tskBS Into account: Rlsks assoclated W&.$ar. of inrxJryw andgxpBnditiKebeing dilferqryt.frow ttRtbudgetad Planned activity level indudes: funds requlred to secure an Indoor venue, repalr end replacement of cy¢les and equipmenL Organlsational commitments including: Insurance, rent,accountancy. The rpserwES polÈGy will hp 8rf.4nrJual basi.&
Bikeability Wales Comoanv Limited bv Guarantse Trustses, Annual Report (Incorporating the Dir•ctorfs Report) (continued) Year ended 34 M2.-.. ---- Plans tor periods For the comina vp.ar. Ihp nyPr.hiTj :w)rity of Ibe rTHn8gement mmrniltpe is to supIrt Ihe DireGtor to achieve financial stability and sustainability whilst ensuring safe minimum staffing levels and best practice Servi provision for clients and volunteers. In addition, to work with the Director, other staff and volunt.eers to pstablish priorities for dpliverv and growth in 2025-26 This work will rontribute to the development of a three-year strategy. INork to develop this strategy will begin towards the end of the 2025-26 financial year Priorities for the next financial year will include: Enh8ncino BikeAbility Wales, offp.r to women and to disabled children and young rwple, as our data collection shows that they a less likely to use our seICes. Fop.¢is on enqtuing heallh and sacial rarp. pMVidpF And wial prptscrihpJs arp. able to refer clients to BikeAbility WaS and provÈde incentives for individuals and organisations to visit us Explore the provision of free cyde coaching and training for people of all ages and abilities, including teaching children and adults to ride, develop new riders by delivering cycle skills sessions. the provist(Jn of NattODal 8tanrtarrt% eyrje Train. iD.g 12vels 1: 2 & 3 In partnership with Swansea Council. Securing fijrther fvnding to strenothen Ihe cha.rity's operations Ihrovqh grant funding, individual giving and increase use of social media to promote our services. Further enhan Ihe BikeAhilitv Wales site tn 3rtner1P with (r fjunvant Rugby Club. The organisation has an excellenl team of trustees. staff, and volunteers so we are confident that BikeAbility Vla18s will wnlinue to bp &JcL£&sfyl over the year. Small company provlslons This report has been prepared in accordan vith the provisions appli(2ble to companies entitled to the small companies exemption. &./2.2 The tnjstees, annual report was approval on ....-.........._....-.. trustep8 by: - and signed on behalf of the board of Ms M Shernood Trustee -10-
Bikeablllty Wales Company Llmltsd by Guarantse Indap•ndant Examiner's Report to tho Trusteos of Blkaablllty Wal•s Year ended 31 March 2025 I tEPOrt to the trustees on my 6xamination of the financlal statements of Bikeability Wales ('the charlty,) for the y88r ended 31 M8Fch 2025. Responsibilities bas¥s of rgport As the trustees of the company (and also its direclors frjr the pury)oses of company law) you are responsible for the preparation of the financlal statenHIts In accordan wth the requirements of the Companies ACÈ 2006 ('the 2008 Act,). Havlng satlsfied myself that the accounts of the company are not required to be audlted under Part 16 of the 2006 Act snd are aligible for independent examination, I report in respect of my examination of the charlfy's accounts as carried out under seGtion 145 of the Charities Act 2011 ('the 2013 A¢l'). In carrylng out my ox8mlnation I have followed th8 DireGtions given by the Charlty CommFssion under sectlon 145(5)(b) of the 2011 Act. Ind•p•ndent •xamln•fs statsm•nt I have Gompleted my examinallon. t canfirm that no matter8 have come to my attention In o)nneGtion with the examination giving me cause to believe.. affjountlng records were not kept in re8PèCt of th8 charity as requiNI by SaGtion 3 20C Act,. or ofthe the tlnancial statempnts do not accord with those rg¢ord8' or the financial statements do rt comply with th8 accounting Tequif8ments of section 396 of the 2006 Act other than any requirenTrnt that the accounts give a %rue and fail vSew whlch Is not a matter consldèred as part of an Ind&pendent examinati(Jn; or the fin8ncÉal statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practica for accounting and repong tr)y charities applicable to charities preparing their arcounts in accordance with the Flnanclal Reportlno standard applicabla In the UK and Republic of IrelarKS (FRS 102}. I have no concems and have ac&oys no other mattw5 in connecllon with the examlnation to which attention should be drawn in this report In order to enable a proper understanding of the aroUnts b be *ache C8rl West ACA Independent Exominer 144 W8tt8r Road Swansea SA15RW 11
Blkeability Wales Company Limited by Guarantee Statomont of Flnanclal Actlvities {including income and expenditure account) Year onded 31 March 2025 2024 Unrestrlcted fund6 Restricted lunds Total funds Total funds Incom• and tndowm•nts Donations and legacies Other tradlng activities other income 28,413 43,4Q3 331 34,369 62,782 43,403 331 20,217 74,158 233 Total Income 72,147 34,369 106,618 94,608 -Expenditur• Expenditure on charftable ae,tlvities Total ?xponditur• 82,525 82,525 14,257 14,257 ,782 96.782 102,904 102,904 Net Sncomellexpenditurn) (10,378) 20,112 9,734 (8,298) Transfers bthen funds (11) 11 N•t mov•m4nt In funds (10,389) 20,123 9.734 (8,296) Reoon¢lllatlon of fvnds Total fvnds brought for4vard Total funds Hrr.i•d forward 59,209 48,82Q 2,842 21765 61,851 71,686 70,147 61,851 The statement of financi81 actkVFkies indudes all galns and losses recounised in the year. All Income and expenditure derive from contlnuing activittes. Tho notes on pages 14 to 211orni part of those tlnanolal ststements. -12-
Bikeability Wales Company Limited by Guarantee Statsment of Financial Position 31 March 2026 2025 2024 Fixed assets Tangible fixed assets 15 2,638 2,245 Current aysets Cash at bank and in hand 70,482 60,829 Credltors: amounts falling due within on• year N•t ¢urr•nt assets 16 1.223 68,949 71,$85 71,686 59,606 Total ass•ts loss current liabiliti•s 61,851 Net assets 61,851 Funds ol the charity Restricted funds Unrestricted funds 22,766 48,820 2,642 59,209 61,851 Total charlty funds 18 71,686 For the year ending 31 March 2025 the charity was entided to eXetIOn from audit under section 477 of the Companies Act 20( relating to small compantes. Directors, responsibilib'es: The members have not required the c£)mpany to obtsin an audit of its financial statements for the year in question in a¢xordance with section 476" The directors acknowledge their responsibilities for cnmptying with the requirewEnts of the Act th respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies. regime. ese financial statements were approved by the boaryl of trustees and authorised for tssue on , and are signed on behalf of the board by.. Ms M Shepwood Trustep. The not•s on pag•s 14 to 21 form part of th•s• financial ¥At•m•nts. 13-
Blkeablllty Wales Compary Limltod by Guarantag Notos to th8 Financlal Statements Yoar ondod 31 Maroh 2025 Gentral Information The charlty 18 a puhlic benefit entity and 8 priyata company Ilmited by guarantee, retjistered in Enoland and Wales and a r8gistsred charty En England and Wales. The address of the gistered office is The Envlronment Centre. Pier Streec Swanw West Glamoroan, SA11 RY. 8tatem¢nt of oompliano• Th8s8 financial stat9ments havg boen prared in compl18r with FRS 102, The Flnanclal Reporting Standard appllcable in the UK and the Republlc of Ir61and', the Statemsnt of Recommended Practlce applicable to charities preparing their accounts In accordanr.e wlth thé Flnancial Reporttng Standard appliGghle in the UK and RepubJi¢ of Ireland {FRS 102) (Charltles SORP (FRS 102)> and the Companies Act 2008, AcoouThtlny polici8S Basls of prèparation The finan¢ial statements have been prepared on the historlcal cost basis. as modified by the revaluation of certain financial assets and liabilitles and investment properties measured at fair value through incomg or oxpenditu The financial statements are prepared In Sterling, which Is th@ functional currency of the entity. Going oono¢rn There are no material nrtaInti88 about the charity's ability to contlnue. Jud9oments aml k•y sourn•s of pstimat5on un¢ert#lnty The prepar8tlon of the financial statements requlres management to make judgements, estlmates and assumptions that affect the amounts reported. These 68timates and judgements are Gontlnuatty reviewed and are based on experienee 8nd other factors, including expeGtatsons of future events that ar8 beltevgd to be reasonable under the circumstances. Fund amnting Unrestrictsd funds are avallable for use at the discretlon of the truslges to further any of the harity's purposes. Designated funds are unrestrlcted funds earmarked by the trustees for particuEar futtwe project or cammitmont. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an ap81, and fall into one of bNo sub-classes.. restrlcted income funds or enclowment funds. 14-
Bikeablllty Wales Company Llmltsd by Guarantee Notes to the Financial Statsmonts f(gonflnuedJ Year gnded 31 Maroh 2025 AOUntIng polloles (¢ontlnu8dJ Inaomlng re$twroos All Incomlng r6sourc6S are Included in the statement of financl812ctlvltles when entitl6m8nt has passed tr) the charity. It is probable that the economic benefits associated with th8 transaction wlll flow to the Charity and the amount can be reliably measured. The followlng specific polioies are applied to particular categorles of income: incom8 from donations or grants is recagnised wh9n ther8 is avidence of entitlement to the gif( recelpt Is probable and Its amount can bo measured r8liabty. lagaoy income 18 recognlsed when recelpt IÉ probabla and entillement is establishod. income from donated goods 18 measured at th8 fair value of the goods unless thls is impractlcal to measure reliably, in whiGh case the value is derived from the cost to the donor or the estimated resale value. Donated facilittes and seNices are recognksed in the accounts when retsfved if the value can be reliably measured, No amounts 8re Rncluded for the contributlon of general volunteers. income from Gontracts for the supply of serrfrc8s is recognised with the delivery of the contracted Se1. This Is classified as unrostricted funds untess the is a contractual requirement for it to be spent on a. particuEarpurpos& arKI. retum8d if unspen( In which c2se it may ba regarded as r8stricted. R•sourG•S exp•nd¢d Expenditiire is recognised on an accrua18 basis as a liability is incuThed. Expenditure Includes any VAT whith cannot be fully recovered. and is classÈfied under headings of the statement of nanciaE activiles towhich it reLgte&; expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable tradino actl.vltles. and the sale of donated goods. expendlture on charitable acts'vifies Includes all costs incurred by a charity in undertaking activittes that further its chaTitable ainB for the benefit of Its benefia'ari8s, including those SUPPDrt costs and oosts ratallng lo the ooyemanc* of the charity apportioned to charitable activities. other expendlture includes all expenditure that is n91th8r related to raislng fun.ds for the charity nor part of its expenditure on charitable activities. All costs are allocated to exper119 categorles reflecling the use of the retsou. Direct costs attributable to a single activity are a]located directly to that actlvlty. Shared costs are apportioned bebNeen the activitles they Gontiibute to on a reasonable, Ju8dltable 8nd consl8tent basi8. Tanglblo assets Tan9iblg assets are initlalEy recorded at cost, and sul)sequgntly stated at Cost less any accumulated depreciation and impalrment losses. Any tsnglble assets carrled at revalued amounts are worded at the fair value at the date of revaluation less any subsequent accumulated depreGiation and subsequent Sccumulated impairment losses. -16-
Bikeability Wales Company Llmlted by Guarantee Notes to the Flnancial Statsments {eontlnu6d) Yoai $ndgd 31 March 2026 Acoounting pollcles [¢oAtlnuod) Tanglble assftts {oonllniwd) An increase in the c8rrylng amount of an asset 88 8 result of 8 revalu8tlon, Is recognised in oth@r recognlsed galns and1085es, un188S it reverses a charge for impairment that has previously been recognlsed as expendlture within the statement of flnanc.ial aotivtties. A deorease in the carrying amount of an asset as a result of revaluation, fs recognised in othar recognised gains and10&8es, expt to which it offsets any prevlous revaluation gain, in whlch case th8 loss is shown within other recognised llalns and k>sses on the statement of financlal activitJe& Depr•¢lAtlon Depreclatlon Is calculated so as to wrlts off the Gost or v8liAation of 8n 8s8eL less its residual value, over the useful economic Ilfe of that as8et as follows: Equlpmont 25% straight lu D•lln•d contrlbutlon plans Contributions to defined contribution plan8 are reGognised as an expense In the perlod In which the related service is provided. Prepaid contributlons are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not 8xpected to be settled wholly wlthln 12 months of the end of the reporting dat8 in syhich the employees render the related seNice, the liability Is measured on a disGounted present value basis. The unwindlna of the discount Is recognised a8 an exp6nse In the period in which it arises. Llmit•d by guarantse The Charlty is Ilmited by guarantee and has no share capiftal, The liability of the mernbers in the event of the compeny belng Ilquidated is limited to £1 per member. Donatlons and legacies Unn3stricted R&st[1cjI Total Funds Funds Funds 2025 DonAtlons Donatlons 3,413 3.413 Grants Hedley Foundatlon G8rfseld Weston CC Swansea The National Lottery Fund for W8tes People's Postcode Lottery Postcode Corrffnunity Trust The Austin Bailey Foundation 5,000 5,2Q4 19,656 1,750 s,000 5,204 19,666 1,750 25,000 2,759 62,782 25,000 2,759 34,360 28,413 .16-
Bikeability Wales Company Limitod by Guarantee Notes to tho Flnan¢lal Statemonts (contlnugd) Year anded 31 Maroh ?025 Donatlons and lega¢les (¢ontlnuedJ Lk7F&Stricted RestrEcted Total Funds Funds Funds 2024 I)onaanS Donations 3,167 3,167 Grants Hedley Foundation Gaffield Weston CC Swansea The National Lottery Fund for Wales People's Postcode Lottery Postcode Communtty Trust The Austin Bailey Foundation 2,000 5,000 8,4QO 2,000 5,000 400 1,650 17,050 1,650 20,217 3,167 Other tradlng xtlvEtles Unrestr.Ected T¢1 FuYKls UnTestrickd T41tal Funds Funds 2025 Funds 2024 Other actlvltles for generating funds 43,403 43A03 74,158 74,158 (Xher Inoom• Unr8stricfed Total Fu Funds 2025 Unrestrlcted Total Fun(Is Funds 2024 Other income 331 331 233 233 Expendlture on charitable actlvkEes by fund ty Unresl'ricted R&stricted Total, Funds Funds Funds 2025 Dlrect Charltable Activity support costs 80,382 14,257 94.638 2,144 96,782 82,525 14,257 Unrestrlcted Restricted Total Funds Funds Funds 2024 Dlract Charltabla Activity Support costs 67,899 1,938 33,067 100,968 1,938 102,904 69.837 33,067 17.
Bikeability Wales Cemgatty Llmlted by GRratrtee t4otss to tha Financial Statsnwnts fgonthued) darf 31 March 2025 Expendlture oft charltable aetlvitlts by activlty type undertakBn directly Support costs Total lund5 2026 Tot81 fund 2024 Dlract Charitable Actlvity Govemance costs 94,638 94,638 2,144 100,966 1.938 2,144 94,fj. *019Q4 10. AffiY$ts pf. p•rtMsts Analysis of support costs t 7A71?12 Totsk2024 Finance costs 436 416 1,680 365 1,572 1,937 2,og6 Net irrKimellexpendilure) is Stat afr£r chargingl(crerfitlng)'. 2025 2024 DeproGiation of tangible tlxed assets 2,157 2,186 2025 2024 Independent examination of the financial statements 1,086 q& Staff The totsl staff costs and employee benefils for the pOIlIng perftyj a analysed as follows., 2025 2024 Wages and salarie8 Employer contributions to pensiDn plans 7638 1,667 783Q3 76,010 1,488 77,498 The average head count of employees during the year was 4 (2024: 4). The average number of ull.thne eqyivuku£•yeFsthlfigthe yeaf E afiatyserj astllows. 2025 No. 2024 No, Number of Staff - type I
Blkeablllty Wales . . Llrrtltad by Notss to the Financial Statsments {GOntlnuod) end9d 31 Marnh 20£6 13. 8taff costs (¢oniln of""ri)or&11)a"I ffjTr,fth'drJsyntJ 111aywttt4" Ixllk 14. TNste• MmufteratirK4 and •xpense5 received by th8 tnjsteas. 15. T Equlpmont Total At 1 Aprll 2024 Additlons 93,951 2,548 93,961 2,648 At 2Q26 D•prettlado At 1 April 2024 Chwgetr theyaaT At 31 March 2026 91,706 2,157 93,883 91,708 1157 93,863 At 31 2026 2,636 1245 2,636 2245 At 31 mah2O24 16. crltOrs. amounts fglllng due wlthin otte year 3024 Accruals and deferred income SoLlal a¥EA otheTtsxe5 Other creditors 1,086 179 t3 I,223 17. Penslons and gth•r post r•tir•nwnt benefits Tho amount recognised in income or expetiditure as an expense in relation to defined )n1rUl10t1Iar1S w&8£1..1187 (2Q24.. £.t,4W. -19-
Bikeability Wales Company Limitsd by Guarantso Notes to the Financial Statsmants (conllnu•rl) Yoar ondad 31 March 2026 18. Analysls ol ¢hArltabte lunds Unr•strirt lunds At J1 March 202 At 1 April 2024 Income ExpenditutE Transfers General funds 59.209 72,147 (82,525) {11) 48,820 At 31 March 202 At l Aprll 2023 Income Expenditure Transfers General funds 51,488 77,558 {89,83n 59,209 Restrlctsd funds At 31 Mareh 202 1 Aprll 2024 Income Expenditure Transfers scvs Swansea Change The Austln Balley Foundatton Moondance Hedley Foundatlon Garfield Weston The Natlonal Lottery Fund for Wales Peoples Postcode Lottery (729) (5,215) 1,913 5,204 11 2,759 (1,496) 1283 5,000 19,656 (5.000) {1,670) 17.986 1,750 34,369 (147) (14,257) 1,603 22,766 2,642 11 At 31 March 202 At 1 April 2Q23 Income Expenditure Transfers scvs Swansea Change Tha Austin Bailey Foundatlon Moondance Hedley FoundatÈon Garfield W8Ston The National Lottery Fijnd for Vvales People's Postcode Lottery 2,641 441 2,641 8,400 (8,841) 1,850 (1,650) (15,576) (2.000) (5,000) 15,577 2.000 5,000 18,659 17,050 (33,067) 2,642 .20-
Bikeability Wales Company Limltod by Guarantee Notes to the Financial Statsments (lIu8) Year •nd8d 31 March 2026 19. Anlysls tst nèt assets between funds Unrestrlcted Funds Restrtcted Total Funds Funds 2026 Tanglble fixed assets Current assets Credltors less than 1 year Net assets 725 49,629 (1,533) 48.821 1,911 20,883 2,638 70,48 {1,6331 T186 22,764 Unrestiictsd Funds Restricted Total Funds Funds 2024 Tangible fFxed assets Cvrrent assets Credltors less than 1 year Net asstts 2,245 60,829 {1,223) 61,851 2.245 80.829 (1,223) 61,851 -21-
Blkeablllty Wales Company Limitsd by Guarantse Managemont Informatlon Yoar ended 31 March 2026 The followkng pAges do ntst torni part of th• finan¢ial stat•m•nts. -22-
Blkeablllty Wales Company Limited by Guarante• Dgtailed Statement of Financial Activities Year ended 31 March 2026 2025 2024 tn¢om• and •Adowm•nts Donatlons and legacles Donations Hedley Foundation Garfield Weston CC Swansea The Natk)nal Lott8ry Fund for Wales Peoplè's Postcodè Lottèry Postcode Communlty Trust The Austln Balley Foundatlon 3,413 3,167 2,000 5,000 8,400 6,000 5804 19,656 q,760 25,000 2,759 62.782 1,850 20,217 Other trading a0t1111•S Other activities for generating ftjnds 43,403 74,158 Other Income Other income 331 233 Total in¢om• 106,616 94,608 Expenditure Expnditur• on Charitable aGtivf<ies Wages and salari Pension ( Rent Light ania heat Repairs and maintenance Insurance Ott)er motorltr8vel costs Leoal atKI Professional fpes Telephone other offic8 costs Depreciatlon other Interest payable and slmllar charges General expenses Training Volunteer expen8e8 Bad debts 76,638 1,667 3,824 S03 634 2,112 329 1,722 1,415 675 1157 422 2.096 1,923 356 410 76,010 1,488 3,600 851 535 2,219 174 1,572 1.298 1,747 2,166 366 905 812 86.782 102,904 Totsl expenditur• 96,782 102,904
Bikeabllty Wales Company Llmlted by Guarantee Dotailed Statement of Financial Aetivitlos (contlnu•d) Y•ar on.dod 31 March 2026 2028 2024 Net InMMol(expendlTej 9.724 (8,296)
Bikeability Wales Company Limitod by Guarantea Notss to the Detailed Statsm•nt of Flnanclal AGlvltles Y•ar •nd•d 31 March 2025 2026 2024 Expendlturn •n oharltable actlvttles Dlreot Charltable Actlvlty Activities undertaken dlrecty Dlrect charitable actlvlty 1- wageslsalarles Direct charitabb a¢tivlty 1- pan0 costs Direct charitable activity 1- rent Direct charitable activity 1- light & heat Dlrect charitable aGtNity 1- repairs & maintenance Dlrect charltable aotNity 1- insurance Dlrect Gharltable actlvlty 1- other motorltravel Gosts DlraGt Gharitabb activity 1- telephone DireGt Gharitabb activity 1- other office costs DireGt charitable aGtivity l - depreGiation General expenses TTaining Volunteer expenses Bad debts 78,638 1,667 3,824 603 634 2,112 329 1,415 876 1167 2,096 1,923 355 410 76,010 1,488 3,600 851 535 2,21g 174 1,298 1,747 2,166 905 9,161 812 94,638 100,966 Gov•rnano• oosts Governance costs - accountancy fees Governance costs - other finance costs 1,722 422 1,572 2,144 1,938 Expenditure on oharitable a¢VItIeS 96,782 102,904 -25-