Reglstered number: 07194338 Charity number: 1140017 CYCLISTS FIGHTING CANCER LIMITED (A company Ilmlted by guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023 CYCUSTS FIGFrriNG CANCER LIMITED (A company limited by guarantee) coKrENTS Page Reference and admlnlstratlv¢ dotalls of the charitat￿O crxnpanyi Its Trusl¢•$ and advisers Trustsg8' report Independent ¢xamln¢¢8 Teport Statgmont of financial activities 10-11 12 Balance sheet 13-14 Statamgnt of cash flows 15 Notes to thg finan¢lal $tatsm•nts 16-33 CYCUSTS HGHTING CANCER UMrrED (A company Itmited by guarante•l REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JANUARY 2023 Trustees R Salisbury K Musgrdve Dr D E Seddon S Miles E A Pharaoh {apFKJinted 1 July 2022} R W Torran(* (appointsd 6 March 20231 Company register•d numb?r 07194338 Charity reglst•r•d number 1140017 Reglstsred offlce 154 Masons Road StraNord-uponAvon Wa￿iCkSh1r* CV37 9NF Ch1￿ executlve offlcer Mlke Grisenlhwalle Accounlants Crowe U.K. LLP Chartered AccounLints Black Country House Rounds Green Road Oldbury We51 Midlands 869 2DG Bankers The C(WTative Bank No 2 Cathedral Square The Cloth Markel Newcaslle upon Tyne NE11EE Page 1 CYCUSTS FIGHTING CANCER UMITED (A company bmited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 JANUARY 2023 TRUSTEES REPORT The trustees who are also directors of the charity for purposes of the Cornpanies Act 2006, present their report wilh the financial slalements of Ihe charity for the er*Jed 31 January 2023. The trustees have adopted the provisions of A¢tX7unling and ReWing by Charities.. Stal8fflenl of Recommended Practice applicable to charities preparing their aC￿Unts in aCCordar￿e with the Financial ReportiNJ Standard applicablo in the UK and Republic of Ireland IFRS 102) leffeclive 1 January 20191- OBJECTIVES AND ACTIVITIES Why Cycllsts Flghtlng Cancer Exists The general objectives of ihg charity remain uncharued and are prfmarlPy to help chlldren Ilvlng with and beyond cancer through activity and exercise. The oblecllves, as sel out In the memoraNJum and a￿deS of assodakn are., To relleve the needs of Children and young people aged 18 and under In Ihe UK who are affected by cancer and to promote and protect their physical a￿1 mental health through the provision of bicycles. Iricydes. trailers an(J other *ing ￿lated accessories. To relieve the needs of all persons who are suNiving cancer through the pmvislon of 8UPPOrt and infonmalion. Every year in the UK approximately 2.400 chadren up to and it￿￿￿1ng thè 890 of e￿￿teort a￿ diagn088d wlth cancer. The effects of cancer and Its a$sc￿ated treatrnent wim&s are numerous. wth the most common side effects seen in children being: Paln Faliguo Loss of cardiovascular condilicffling Musdg weakness and muscle knghlne Balance issues - certain drugs can affect the peripher81 nervès rausing loss of movement or sensation in hands and feel Coordination difficulties Lack of self-esteem, confidence and concems with body sellyrception Research also shows that survsvors of Child￿ cancer have l¢Mer levels of physical fitness than thelr pe8rs and that this continues through into adult life. impactiTh3 on thelr futtjre health. Almost half wdl experience chronic severe or life-lhrealenlng Consequen￿ (late effects) of Iheir tumour a￿v(ff its treatment. 11 is now known that physteal 8cknty 15 safe. ￿er￿la1 and recommernted for thildren and adolescents affected by ￿ncer. It is recognised as one of the most effective ways of impmving phjsical and p5ycholLKJic81 heallh and wellbeing for chIld￿n being treat￿ for car￿r and bes￿nd.. reducing the impad of some of the skde effects of treatment. whilst promoting independence, peer support and sellthconfider￿e. We encvurage exercise and acbvity in children and s￿￿ng pe(* 81 all stsges of Iheir cancer treatment and beyond. We promote cycling as it is low impact. a￿SsIb￿. outdoor. $￿able and fvn! 11 is an activity that can be enjoyed together as a family or for an older child it offers independence and freedom. It can be done al their own pace, in their own time and can be inlegrated into daily lrfe. We do this ty providing new hghlWe￿hI bikes and trikes io thibjren arKI young people living wilh and beyond cancer up to and induding 18 years (*J. Page 2 CYCUSTS FIGHTING CANCER LIMITED (A company limited by guarantè•l TRUSTEES. REPORT (CONTINVEDI FOR THE YEAR ENDED 31 JANUARY 2023 These bikes and trikes cover a wide range of needs and abilities. From a lightwetghl standard bike to a speaally adapled trike which offers extra balance and head. neck or tor50 SUp￿rt. fwlplates. or a parent handle to help with steering. We also have 8 bike ad8ptab.ons specialisl can amend a stsnd8rd bike lor specific needs, for example if a prosthetic has fitted or if the chikl has limited function of an arm and needs all of the bike controls on one side. We have never failed lo gel a chihl p8dalling yet! We also fund any cycling-relaled equipment that may be required, helmets. stabiliseTr, blke lod(8. iwbo Irainers and biky bikyjackets {lo help with balance). OUT Standard bikes ar9 high qualty and ￿gb￿￿lgttl on average 6kg lighter {or 3 x 2 litre bottles of water!) than their Chèaper brand equivalent. This is a hu￿ benefit when there are already &xisting issues with balance. coordination and strongth as lighlwekJht bikes are muth eaèr lo pedal and contrd. which In turn also ald8 confidence and self*steem. Bacause the effects of cancer aro not over once the treatment stops. and the likelihood of 'lat8 effects, (long term slde effects) we invite families lo reapply for a second blke onc* thelr child has outgrown their origlnal, providing them ongoing support up to and including the age of elghleen. As canc¢r also eauses massive diswption in famil￿. where possible. we give bikes to Ihelr slbllngs, and In some cases their parents, anything that wll he￿ encourage the thild living wth cancer to make the most out of thglr bike, and also so that they can take part in 8n actith as a famlly once agaln after what can be years of hospitalisation and upheaval. We work closely vhlh the 21 paedialric oncok)gy units in the UK to provlde our servlce to the families and children that need it. We have four slaffllrustees who are Cancer Exercise Sp8ci81ists. can advise lamili8S about the speclllc needs of their chllthen and grtsure Ihal the ft￿t 8prxwiate INke or trika is provlded. FundSng Thè ¢t￿rity 18 financed Ihrough the fdlowing lundraising ocbvib8s". Thro[￿h wv¢nues generated by thg retsil tharity shops trading under the nama of'The Charlty Bike Shop.. These shops recondttion and sell donated bikes from the public. donated clothing and cycling a¢cessori8s. These retsil operalions generated a consolidated profit of £258,000 durlng the financial year. Non charitable relail activities were transferred lo a wholly owned Subsidiary CFC Retail Limited for the 2022123 finanaal year. Through donations, fundraising and grants. This mc￿des. Through the kind support of the publlc and otaisls caryng out sponsored events or acllvltles around Britain and across the wortd. By attracting donations from I￿1 dubs and organisations who und8rtake fundraislng a¢tNities. By apptyiro for grants from charilable loundatK)n. By working wilh crNporate organisalK)ns lo maximise lo benefit from CSR inilialives. By taking pari in the Race Across America and raising sponsorship money. All monles donated make 8 huge differen￿ lo our total fundraising effort and ullimalely to the number of children affected by cancer we 5UPPOrt. In the CLFrrenl financial year monies raised totalFed £236,000 (after the deduction of costs a5SLKialed wllh ￿ Race Across Amwif21. Cyclists Fighting Cancer are members of the vduntsry scheme for regulating fundraising. Cydists Fighting Cancer do not employ exlemal agencies lo carry out fundraising on ils behaw. Our fundraising staff are aware of the need lo be sensitive and careful wlwi engaging with vulnerable people and rf people do not want to give or wish lo stop giwng their decisK)n is fully respected- There have been no fundraising complaints recc*ded in the past year. Page 3 CYCLISTS FIGHTING CANCER LIMftED (A company limited by guaranteè) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023 CURRENT STRATEGY AND FUTURE PLANS Stfategic obje￿1¥eS for 202212023 The main objective was to re- engage with hospital oncology un¢ts and their patients as Ih85e gradually opened up after Covid, so as to promots the benefits of exercise. 11 also allows the charity to dèmonslrale what il can offer patients and generates applicalions for bikes. ConsideratK)n is being given lo providing equipment dlrectly into Paedialric Oncology units. so as to pThide fuTlher benofft lo Iheir patients while atten¢Jing hospital. We continue lo build our national netsvork of cancer ex￿1$8 specialists trained to national standards. Longer term it is hoped to o￿n the CFC brand to cover the Charl￿S second object of helping and advising all peopl living with and beyond cancer by promoting Cancer Fitr)8ss Clubs aTrJ Cancer Filness Coaching. On the funding side the conlinued success asscoaled ￿ "The Charlty Bike Shop" ahjng with a reductlon In revenues from cycle sportives has led to the strategy to expand Ihe retail slde of the charity In the future with the addllion of further sltes. There is a plan lo expan(i the retail shrps from three currently to around len in the noxl f8w years. Investment wim also bo made li Imivoved sfftms ts the Retsil operations. In light of new sportiro activit￿S ￿n￿tir￿j slrongly In this Ma￿et the charity has decSded not lo stsge Its own events bul to continuè to erwurage Ihe UK csrling community to raise money whilst riding their own events and challgnges. Tactical ObJectlves for 202212023 Rebuild the application for bikes through engaging wilh and re-e8tabllshing relationships with oncology units as they open up post COVKI. Eslablish a new wholly owned subsidiary- CFC Relail- and transfw commercial aclivilios, which include the sale of purchased slock and servicAng of 3rd party bikes, to this subsidiary. Profiis from Ihis subsidiary would be gifted up to the Charily under gift aid. Invest in improved system5 deployed within ihg retw'l shw and idenlifyfurther additKsnal sultsbl8 I￿atIOnS for fuiure retsil ¢JJllets. Improve communications wth CFC SuFwrters and ￿￿ourage fundralslng ofolher non*1 relumed to levets. $0 significant 6ffort$ are being mad8 lo promote the ￿￿sage and the benefits of physKal exeicise. ReseTheg The charity had net a88ets of £359.0(M) 88 at 31 January 2023. This represents a small increas8 on the prior year. The trustees have agreed the followng reserves policy to en￿re the financial stability of the charlty In the event any short term changes of circumstan￿$ induding any tern￿rary shortrau in income" £5000 to cover premises rental £10.000 lo cover to cover the Provision afbj distribulKin of tAkes £5cm￿ lo coveT emergency fepairs to vehides, premis8s or other cap&tal equipmont dèployed for the provision of tharitable services. As the nel assets of the charity at 31 January 2023 exceeded these re5er¥es. the charity is fo￿Sing its efforts on increasing its charÈlable ac¢ivsties and expenijiture. Page 6 CYCUSTS FIGHTING C•V4CER UMITED (A company limited by guarante•l TRusfEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023 PRINCIPAL RISKS AND UNCERTMNTIES For several years, the cycle sportive markel has been buoyant as was the triathlon scene around 8 decade 8go. It Is anlicip8led Ihal Ihis deman(J ts likely to lake a downtum in the forthcomirvJ years. A significant proportlon of our fundraislng is based on cyde stL)rts"ve and any dedine in Ihis trend will have a detrimental impact on current CFC fundraising strategy. In line with this pred￿ty￿ CFC has adopted a straWy of attracting fundraisers who may undertake a wider spectrum ol events and challenges oulwde of GydifVJ. The current economic environm8nl could also impact the fulure ￿Ve1 of donalions and funds raisgd. CFC ¢onlinues lo develop olher r8v6nue streaff% such as retail ￿10¥ from donated bikes and accessories which would enable CFC to mitigats a E￿Ille reduct#)n in fundHsing. The Charity has three retsil Irxations with increasing revenues arKI fvrth8r plans lo inueaso the retail footprint. CFC carrfes a slgnificant operating cost base relating to premises. and this will increase as additional locations are added. Any significant downtum in cyde sales. or in the level of donated bikes could impact the profits generated from retail operatlons. Hiywever the trustees belleve new locations would allow access lo now sources ol donated bikes, and this is likety to more than olfset any eosts assoclaled wllh new premlsgs. Also as Ihe Tetail operations sell rewndbtloned bikes, the sal8 of these is likety lo be more immune from the effects of any economic downlum. EMPLOYEES Cycllsls Flghling Cgncer operates an equ81 opp(wlunilies re(xuilment policy. The long-l¢rm succe88 and performance of C￿lSts Fighlitvj Cancer is wholly dependonl upon the talents, motivation arKI achlevemgnts of ils employees. It is uiticalty important to develop employees and ensure they operate al the highest possible level throughout the organisation. 11 can only do this by recruiting very capablè, mollvaled and talented pwple. Ihen buiklFng relovanl $kills and kn￿edge through struGtured on the job mentoring and prowding an enmronmenl where the work is stimulating and rewarding. THE BOARD The Board of Trustees Is responsible for the strategic govemance of the charity. The board now tomprlses SIX Trustees. an increase of on8 on the the wevious ￿ar. folk)wr¥J the appointment of a twstee with a finance based background. Thls addresses a skills gap that had trAen Identi￿ by the Board. The 8oard of Trustoes meet 8t spedflc Intervals through the year and are responsible for setting the over011 strategy of the Charity. Al each meeting. the Board receives rewrts on all aspects of the charity's work. The trustees Teview the skills 8udrt to identify specffic skill sets that would strengthen the Board's overall effectiveness. The Board operates an equal opportunilies recrurfmont policy and trustees that are recruited are required lo hove demonstrable experien￿ in the areas idenkn'fied by the skills audit. Page 7 CYCUSTS FIGHTING CANCER UMITED (A company limited by guarantee TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023 STRUCTURE, GOVERt4ANCE AND STRUCTURE Govgming Document The charity is controlled by its goveming dO{￿ment, a deed of trusl. and constitules a limited company, limited by uaranlee. as defined by the Companies Act 20(￿. Stslement of Trustses. Responsibilities The trustees are responsible for preparing the trustees. annual reFKJrt and the finandal slalements in accordanGg with applicable law and United Kingdom Accounting Standards {Uniled ￿'ngdI￿n Generally Accepted Accounting Practice). Company arKI charity law requlr6 the Trustees to prepare financlal statsm8nts tor each financial year. Under company law the Iruslees musl not approve the finanoal ststements unle55 they are Satisfied that they give a true antl falr view of the state of affairs of Ihe group and parent charity and of the Incomlng resources and 8pplicalton of resour¢es. including tts income and expenditure, of the group for tho year. In preparing those financial statements the trustees are reoLbired lo.. Select suitable acccwjnling policies and then apply Item consislenty Observe Ihe melh(xls and principles in the Chartties SORP Make judgments and accounting estimates Ihat are reasonable and prudent Slate whether applicablg accounting standards have been lollowed, subject to any m4teri81 departures disclose(l and explained in the fbnancial slalemènts Prepare the financial statements on the gclng Lxjncem unless It Is inappropriatè to presume that the charity wil continue in business. The trustees are responsibl8 for keèping adeq¥Jat6 ar￿ prcfef aCuJUn￿ng records that are suffi¢iènl 10 8h¢)w and explaln the charilys Iransaclion$ and disclose wlh reasonable 8ccuracy al any time tho financial position of the charity and enable them to ensure that the financial slalements compty wlh the requirements of th8 Companies Act 2006. They are also responsible for saleguardiThJ the assets of the charity and hence for taking reasonable steps for thè menlion and detsctlon of fra￿j aThJ ¢knr irrogularilie8. The trustees arè responsible for the malnlenance aTrJ Integvity of the Co￿rate and financial informallon Included on the Charitys website. Legislation In the Unlled Kingdom wvemirg the preparation and dlssemSnalion of the financlal statements and other infomwlion induded in annual rep￿ts may differ from leglslation In olher jurisdictions. Page 8 CYCLISTS FIGHTING CANCER LIMITED {Acompany Ilmsted by guarant•èl TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023 S8feguarding The Trustees have overall responsibility for ensuring Ihal ihe charity has ptoper safegLt8rding procedures and policies in place to ensure the safety and proleclion of the th￿dren vulnerable adults with whom il works. They have due regard to the guidance issued by the Charity Commission have all read the Department of Education's guidanG8 document'saleguarding for Tnjsleos.. Poli¢ies and procedures vthich have b88n iThplemented InckMJ8: Th8 appointment of a Trustee wilh 0vw￿l responsibility for safeguarding and 8 safeguarding Igad Sale recrullment policies ineknlirwj fvll DBS (Disch)sure and Barring Se￿￿0) checks for all stsff working wilh young people Safeguarding training for all Trustees aTrJ staff ￿)MMOn￿rate thelr roles and responsibllllle8- to be repealed for each individual every 2 ￿ar$ Clear procedures and guidance for all Truslees and staff so that ty aTe dear aboul how lo report any concems Robust risk and safeguardSrNJ asS8ssmenl wathces so that indN5dual events are always managed In such a way to prolecl wung people. stsff and vokntee Volunteers Thè Truslegs arg ever mSndtul of the tremerthus w(¥k of ¥dunleers In raising ffijnds ar¥J wlsh to tako thi5 opportunity lo express thanks to Ihem all. The Twslees 5%￿uld also like lo thank the dedicaled b8nd of volunteers who assist in the bike shops and th& staff of Cydists Fighting Cancer who frequently volunteer ot fundraising events in Ihair 8rea. Chièf Execulive Th8 Board debegates the day to day runnirvj of the charity to the Chief Executive. vA)o is responsible for th$ delivery of the agreed strategy and for ensuring that Ihe charitys policies are adhered lo al all Umes. The Chief Exe¢Lrtive is a88i8led in this task by the sen￿ Managemeni Team who reFKJrt lo him. Related P8rtles None of the Tnjslees of the charity receive any fymuneralion or other benefit from their work ¥Mth the charity. Expanses Incurred in the coursg of performing Trustsg duties are reimbursed by thg charity and are dlsclosed In the financial statements. small companles nol8 In preparing thi5 report. the Trustees have laken advantage of the small companies exemptsons provided by section 41 5A of the Companies Act 20LK. Approved by 0￿er of the members ofthe txjard ofTwstees aThJ slgned on their behaw by.. K Musgrave (Trusteel Date: IL. 1..2023 Page 9 CYCUSTS FIGHTING CANCER UMrtED IA company Ilmit￿ by 9uaantso) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 JANUARY 2023 Indèpèndènt Examlnerfs R•port lo thè Trustees of Cyclists Fighting Cancer Limited I'the Charitabla company. I report to the charity Trustees on my examIna￿n of the axcmjnts of the Charilable company for the year ended 31 January2023. Responslbllltles and Basls of Report As the Trustees of the Charitsble company 18NJ its direthrs for the wrposes of company lawl yOLt ar6 responsible for the preparati￿ of the accounts wi 8ccor(18nca with the requirements of thè Companies Acl 2006 I'lhe 2006 ACVI. H8ving satisfied myEeW thal the accounts of Ihg Chadtsble company are not requlred to be autllted under Part 16 of the 2006 Acl and are eligible for independ8nl examination. I repc#t in respect of my ex8minalion of th& Charitable companls accounts carried out under section 145 of Charilles Act 2011 1.the 2011 Act'l. In carrytng out my examlnatlon I have followed the Directions glven by the Charity Commlssion under section 14515llb} of the 2011 Act. Indepondont Examlnofs Ststoment Slnc8 the Charitable ￿Mp8￿￿4$ gross ino)mè Oxeeeded £250.000 examlner musl be a member of a tody listed In section 145 01 the 2011 Act. I confimi that l am qualified lo undertake the examination because l am member of the In81itule of Chartered ACc￿nIants in E￿and and Wales, whkh Is one of the listed bodies. I have completed my examination. l o)nfimi that no maltets have come to my attention In connectlon with the examinalhin giving me cause lo belwe: 8c¢ounling records were not kept In respect of the Clwrtsblg company as requir8d by soction 386 of thè 2006 Act,. or the 8ccovrils do not accor(I with those records: or the accounts do not ￿rnpty wlth the a(xountiry requlrements of section 396 of Ihe 2006 Art other than any requirement that Ihe accounts gfve a aThJ fa* vl8w vknkh is Th)t a matter considered as part of an independent examnation.. or the accounts have nol been prepared in a￿rdance wilh the methods and Pri￿eS of the Statement of Recommended Practtce for accounting and Tewting by charilies [applicable lo charities preparing their accounts in accordance with the Finanaal Reporting Standard applKable in the UK and Republic of Ireland IFRS 1021]. I have no concems and have acn)ss rK) 0th8T matters In ¢xmnection wtth thg examination to which attention should be drawn in Ihis reFrtxI in (ffder to enable a prrw understandiThJ of the accounts to be reached. Page 10 CYCLISTS FIGHTING CANCER LIMrrED {A company Ilmlted by guarantee) INDEPENDENT EXAMINER'S REPORT fCONTINVEO} FOR THE YEAR EMDED 31 JANUARY 2023 This report is made solely to the Charitable companys Trustees, 8$ a l>)dy. in accordance wth Part 4 of the Charities (Accounts and R8portsl Regutalions 2008. My work has been undertaken so that I might stale lo the Charitable companls Trustees those mattets l am required lo stale lo them in an Inde￿ndent examiner's report and for no olheT purpose. To the fullest extent pennitted by Law, I do not accept or assLbm6 respOnsi￿.111Y lo anyone other than the Charitable ￿MpanY and the Charitable companrfs Tnjstees as a body, for my work OT for Ihls report. Slgned: Helen Blundell LLB FCA FCIE DChA Dated: 30 Odober 2023 Crowe U.K. LLP Black Country Htxjse Rounds Green Road Oldbury Wesl Midlands 869 2DG Page11 CYCUSTS FIGHTING CANCER UMITED (A company Ilmltèd by guarantee) STATEMENT OF FINANCIAL ACTMTIES IINCORPORATING IfrICOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JANUARY 2023 Tolal funds 2023 Total funds 2022 funds 2023 funds 2023 Incamo from: Donations and legacies Charitsble activities Other trading activities Inveslmgnls Other income 184,758 451,732 45,810 45.250 230.008 451.732 45.810 93 209. 138 388,983 127, 180 tO,522 Totsl Incom 682.393 45.250 727.643 T35,827 Expendlture on: Raising funds Charitsble acb'vllles 315,955 315.955 363.903 406,289 150,568 36,114 Total exp•ndltur• 643,744 36,114 679,858 556,857 Net movemont In fund# 9,136 47,785 178.970 R•con¢lllatlon of funds: Totsl fund8 brought fomard Net movement In funds 18 18 4665 9,136 311,225 47,785 132.255 178,970 Total fund5 carrfed fonyard 345,209 13,801 359,010 311,225 The Slatemenl of Financ>al Aclivilies i￿audeS al gains arNI k>ssgs 18cc￿lS￿d wi the year. The notes on pages 16 10 33 fonn part ofthese finarKlal sta1eff￿ts. Page 12 CYCUSTS FIGHTING CANCER LIMrrED (A ¢ompany limited by guarantee> REGISTERED NUMBEIL. 07194338 BALANCE SHEET AS AT 31 JANUARY 2023 2023 2022 Fixed as$gts Tangibte assets 13 19.682 17,752 Current assets stoGks DebtOTS Cash al bank and In hand 14 15 198,5S7 158.367 153,478 172,739 182,860 S10.402 355.599 Creditors.. amounts I￿ring due within one year 16 1167.0321 (55.880) Net Current ass•ts 343,370 299, 719 Total ass￿8 1888 current Ilabllltles 363,052 317,471 Credit￿$.. amounts falllng due after m￿e than one year 17 (4,042) f6,246) Total not o￿t$ 359,010 311,225 Page 13 CYCUSTS FIGHTING CANCER UMITED (A company limited by guardnteel REGISTERED NUMBER: 07194338 BALANCE SHEET ICOTrrnNUED) AS AT 31 JANUARY 2023 2023 2022 Charity funds Reslricled funds Unre8tricted funds 18 18 13,801 345.209 4.665 306,560 Total funds 359,010 311.225 Tha Choritoble company was entitled to exemplw)n from audit under ￿tiOn 477 of the Companie3 Act 20(6. The members have not required Ihe company to obtain 8n awtit for the In question in accordance wllh section 476 of Companies Act 2006. The Trustees acknowledge thelr resp￿SIbIlItieS for c(YnKAyo19 wilh the requirements of the Act ￿th respact to accounting reeords and proparallon of financial statements. The flnancial statemen15 have t*8n prepared In aceA)r(Jart8 wllh the provlslons applICab￿ to 8nlltle$ $uble¢t to the 8m811 compani¢$ regime. The flnancial slalemenls were approved and aUlh￿Sed for issue by the TnJ$t¢es arKF signed on thelr beh￿f by.. K Musgravo ITruste8) Date.. 2&.10,2023 The notes on pages 16 to 33 form part of thw fm8Nio1 ststements. Page 14 CYCUSTS FIGHTING CANCER LIMITED (A company limited by guaranteo) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JANUARY 2023 2023 2022 Cash flows from opeTatlng actlvllles Net cash used in operating aclivilies 21 (23,004} 66.887 Cash flows from Investing actlviti•s Purchaso oftsngible r￿ed owts Interest rocefved (4.26n 93 f5,465) Net cash usèd In Investlng actlvltles 14.174) (5.461) Cosh flows Irom flnanclng adlvltles Repayn)¢nts of firbanco leases 12,2041 (2,205) Net cash used In flnanclng actfvitle• (2,204) (2,205) Change In ¢a8h and cash equlvalents In the year Ca8h and r2sh equlvalents at the Winning of the Jear {29.382) 182,860 59.221 123.639 Cash and ush •qufvalents at the end of the y 153,478 182,860 The note5 on pages 16 to 33 fom part of finanaal statem Page 15 CYCLISTS FIGHTING CANCER UMITED (A company Ilmited by guaranleel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023 Goneral Infomwtion Cyclists Fighting Cancer Limiled is a company limited by guarante& and a regsstered charity {Charity no.11400171 (Company no. 071943381. ir￿OrF*yaIed and registered in England and Wales. The regisleTed office of the company is 154 Masons Road. SITatford-UponknAvon, England, CV37 9NF. United Kingdom which is also the principal place of Ixjsiness of the LX)mpany. Thg Charity is a company limited by guarantee ond has no share ca￿tal. The liability of member in the event of winding-up is limited lo £1. Accountlng pollGI 2.1 Basls of preparatlon of flnan¢lal statemonts The finandal stslements have been tKepared in accordance with th6 Ch8riltes SORP (FRS 1021- Accounting and Reporting by Charitses.. Statement of Recommended Practice applicable lo charities prepaiing their accounts in accordarKe with the FinanGial Reporting Standard applicabla in the UK and Republic of IrelarKI IFRS 102) leffectNe 1 January 20191. the Financial Reporting Stsndard applicable In the UK and Republic of Ireland IFRS 1021 ar￿ Ihe Companies Act 2006. Cydlsts Fl9hting Cancer Limited meets the defmllKm of a publ￿ benefit entity undar FRS 102. Assets and liabilities are inilially recognised at historical cost or transacllon valuo unless Othe￿Is9 8taleil In the relevanl accounting polky. Page 16 CYCUSTS FIGHTING CANCER LIMITEO (A company lomited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023 Accountlng pollcies (continued) 2.2 In¢omg l income is rwnised once the Charitsblg ojrnpary has entiilement to the income. il is probable that the income will be received and the amwnt of income receivable can be measured reliably. The racognition of incom from 18gacies is dependent on establi$hiTrJ ontillement. th8 prob8bS1ity of receipt and the ability to estimate with sufficient accuracy th8 amount receivable. Evidence of entittement to a *acy exists when the charitab￿ company has sufficient evidence that a gift has been left to them Ilhrough knwledge of the existence of a valid will and the death of the benefaclorl and the executor Is saiisfied that the p￿pertY in queslion will rtot be required to satisfy clalms In Ihe eslale. Receipt of a legacy musl be recognised when it is probab￿ Ihal It will be received and the fair value of the amunl receivable. which will generalty be the expected cash amount lo t* dlstrlbuted lo the Charitable company. can be reliably measured. Grants are included in the Statement of finanaal aclivilies on a recelvable basis. The balance of Income received for Specif￿ puryjoses ixjl not expended during the peritra i8 shown in Ihe relevant funds on the Balance sheet. whe￿ income is received in 8dvan¢8 of enlitierngnl of recelpl. Its recognition is deferred and included in ueditors as defeffed income. Where enlillemenl occurs belore inccrfne 18 rtteived, fv income is acLrued. Donatsons and gSft8 are rncognis8d when rec4ivable. In the event a donation is subject lo fulfilllng performance condiliorts bofore the charity is ents.tled to the fttnds. the income is deferred and not recognised until it is probable that Ihose ￿llIonS will be Iijifilkd in the reporting pèriod. Income lax recoverable in relalion to ￿natiOnS recebved urwjer Gfft ANJ or deeds of covenant Is recc•Jnised at tho lime of Ihe donation. Donated goods {being bikes. dothing arKi other cycle related produdsl are recognised as income on receipl al an estimalo of their value lo the charity. Fair value is assessed by the rel8il manager at an eslimale of the rosale value less cost to sell the goods. Donated goods that remain unsold al the year gnd are induded in the end st(Kk figure in the balance sheet. Income tsx recoverable in relalion to inveslment irKome 1$ re(xgnised at the Ilme the Snveslment inc0￿e is receivable. Trading income i8 recogniset1 on point of sale for bolh donated arKI purchased goods. Other income is recogniserj in Ihè period in wthich it is receivable and to extent the goods have been provided or on completion of Ihe serwce. Page 17 CYCUSTS FIGfrmNG CANCER UMITED (A company limited by guarant¢el NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023 Accounllng pollcles l¢ontinuèd) 2.3 Expgndltu Expenditure is rgcognised once there a Je981 or cX￿SITUctive 0bkngat￿￿ to transfer economic benefit to a third party. it rs probatle Ihat a transfer of e￿noMic benefits wll be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of èach activity are made up of the total of direct costs and shared costs, including support C081s involved in undgrtaking each actiwty. Direct costs attributable lo a single activity are allocated directly to that activity. Shared costs which Contribute to more than one activity and support costs which are not attributable to a single activity are aPFo)rtioned befvRen those activit￿ on a basis consislent wllh thè use of resources. Central slatt costs are althled on the basis of time spenl. and depreciatlon charges allocated on the portK¥n of the assel's use. Expenditure on raising funds indudes al expenditure Incuffed by the Charitable company lo raise funds for its charitabie purposes arKI indudes costs of al furnjralslng activitles events and non- charilable trading. Expenditure on charitablè actNities is inCu￿ed on direcuy undertaklng the actlvltle8 vthlch further the Charitable eompanls oty'ectives, as well as any asgxialed support costs. All expendiluTo is Inc￿$1¥8 of Irrel￿Ve￿LIe VAT. 14 Tanglble fix￿ assots and dgpr•datlon T8nglble fixed assets are initialty recognised al cost. After recc#Jnilion, under the cost model, langlble fixed assets are measured al cost less accvmulaled tleprecialion and any ac¢>Jmulaled impairment losses. AJI costs incurrgd to INir¥J a tsngthAe fixed asset into its intended working eoThJilion should induded in the measurement of cost. Depreciatlon Is charged so as to ak¢ale the cost of tsnglble flxed a8S8t3 legs thelr resldual value over their estimated usefvl lives . Oeprecialion Is pro￿￿8￿ on Ihe folk)vAng basbs: Plant and rnachlnery Motor vehicles Fixtu￿$ and r￿Ing$ Computer equipment 25% straight line 25% straight line 25% straight line 33% straight line 2.5 Stocks Stock compfises donated ￿kes. clothry and other cycle related prcMJucts which have been donated to the charity. They are valL￿d al an eslimale of their fair value to th8 charity whlch Is 8n eslirnate of the resale vdue less thè cost to sell goods after making due allowance for any obsolete or slow moving iteffls. Page 18 CYCUSTS FIGHTING CANCER LIMITED (A company Ilmited by guaraDtsè) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023 Accounfjng policles l¢ontlnued) 2.6 DobtOTS Trade arKJ other debl(ws are recognised at tha setllement amount after any trade d18counl offered. Prepayments are valued at Ihe aEYK)unt prepaid net of any trade discounts due. 2.7 Cash at bank and In hand Cash al bank and in hand indudes cash and short-lem highty liquld Investments with a short maturity of three months or less from the date of a￿ls1110n or opening of the deposll OT slmilar account. 2.8 Llabllltles and provlslons Liabilities are recognised vthen there is an oblYJ81ion al the 8alance sh8el date as a resull ol a pa51 evenl. it is probable that a transfer of economic benefit will be required in selilernent, and the amount of the settlement can be èstlmated relrably. Liabilities ale recognised al Ihe amount that the Charitable company anbcip8tss it wlll pay to settle the debt or Ihe amounl it h8$ received as advaneed pawments for the ooods or servlces il musl provide. Provlsions are measured al the best esllmate of the amounts roquired to ￿111¢ the obligation. Whera the effgct ol the lime value of money is material. the provision is based on Ihe present value of those amounts. discounted al Ihe pre-tsx discwnt iat8 Ihal reflecis the risks specific to tho liability. The unwinding of the discount is rec(¥Jni5od in the Stslement of financlal activities as a fin8nGo ¢OSt. 2.9 Flnan¢lal InslTuments The CharIta￿e company only has financial a88ets and financ4al Ilablilllg$ of a kind that qualty a8 basic financial inslrum9nts. Basic financial instruments are initially recognised al Iransactlon value and subsequenlty measured al their settlement Value wlth the excepllon of bank loans whlch arè subsequently ￿3s￿red at amortised cost using the effectNe Inte￿$1 method. 2.10 Flnance leas&s and hlre purchase Assets obtained urKler hi￿ purchase contr8ds and finance leases are capitalised as tangible fixed assets. Assels acquired by firtance lease are depreciated over the shorter of the lease term and their useful lives. Assets acxjuired by hire purthase are depreciated over Iheir useful lives. Finance leases are those where subsiantially all of the beneffts and risks ol owneTship are assuff￿1 by the Charitable co￿Pany. Obligations under suth agreements are induded in creditors, nel of the finan charge allocated lo future pellcrtls. The finance eI￿rent of the rentsl payment is charged to the Statement of financial activities so as to pr￿U¢e a constant ￿riOdIC rale of charge on the nel obligation outstan¢Jing in each p8rK•J. 2.11 Pensions The Charitable company operates a defined conlribu1￿ pgnsion scheme and the pension charge rewesents the amunts payable bythe Charitable company to the fund in respect of the year. Page 19 CYCUSTS FIGHTING CANCER UMITED {A ¢ompany ￿mited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023 Accounting pollcles Iconllnu• 2.12 Fund a¢￿U￿ting Ggneral funds are unreslrictad funds are avalablg for use at the discretion of the Trustees in fvrtherance of the general thiecbves of ts Charitable corrwany and which have not been designated for other purposes. Restricted funds are funds vthich are to be used in accordance wlh specific reslrictions Imposed by donors or which have been raised by Ihe Charitable company for particular purposes. The costs of raising and administering such funds are charged 8g81fts1 the speufic thjnd. Tr aim arKI use of each reslrtcted furKI Is set out in the notes to the financial slatèments. Investment income, galns ar¥J Ios8es arn 8lhJcaled to the approwlate fund. crftlcal accountlng •sllmat•s and arn48 ofJUdg•m￿t The company makes certaln estlmales and assumplions regardiru the ftrtur8. These judg8menls and estimates affect the applicalion of pollues and reporled amounts of assets. Ilabilities, income gnd expenses. Eslimales are conllnually evalu81ed based on historical experience and expeclalions of future events that are believed to be reasonable under the cArcumstances. In the future. actual experience may differ from those eslimal8s and assumption$. In PTeparing these financial stalemenls. tho dir8clors havg had to make the judgements and &stimates ui relation to Ihe depreaation of fixed assets and valual*)n or Stocks and valuation of donations in khid. After due regard for such. th¢ b8li8ve thal Ihe net b(M)k value of the fixed assets slated 18 materially accurats. Also. after due regaid for suth. tho direct￿$ beweve Ihat the ¥8￿￿ as referre(I to on the companl8 balance sheet is rnaterialty awirate. Page 20 CYCLISTS FIGHTING CANCER LIMITED {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023 Income from donatlons and legacles Unrestricted Restrf¢t¢d fvnds funds 2023 2023 Total funds 2023 Total funds 2022 Donations and legacies Indepenijenl Fundraisers Grants and trusts 29.097 114.950 40.711 45.250 74.347 114.950 40.711 57,386 100,830 50,922 Total 2023 184.758 45,250 230,008 209,138 Total 2022 191.438 17.7C(I 209.138 Grants recelved for the year are as feifows: 2023 2022 Club Peloton Matchroom charitab￿ FouThJatK>n DoTi$ Field Charitsble Trusl The Shanley Foundal Hedley Foundation Lucy Monro Memuial Trust The Misse5 Barrie CT High Sherlff of Wapmckshire Oaks SolaT The Blakemore Fwndalion Sl James's Place Allen and Overy LLP The Will Charitsble Trust The Rigby Foundation Charitable Trust Souter Charilabje Trust The MulchaTrJ Foundation Ecctesi8sltcal 6,111 22,222 10,000 1,000 4.000 2, TOO 1,000 1,000 100 2.500 5.000 1D,000 1.000 3.000 10.OQO 1.000 40,711 50,922 Page 21 CYCLISTS FtGHTING CANCER UMfTED IA company UM1t￿ by guaontee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023 Income from charltablè a¢tlvltles and other trading Income Income from charilabie activities Unrestricted funds Total funds 2023 Total funds 2022 Shop sales- donated stock Increase in value of donated ¥tod( Misc sales 384,280 51,177 16.275 3M280 51.177 16,275 386,509 2,474 451,732 451.732 388,983 Total 2022 388.983 388.983 Income from othor tradlng actlvltlfr¥ Unrestrfctod funds 2023 Total fund$ 2023 Tol81 funds 2022 Income from events 45.810 45.810 12T,180 Total 2022 127.180 127. 180 Page 22 CYCLISTS FIGHTING CANCER LIMrfED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023 In￿stment Income Unrestrlcted fund$ 2023 Total funds 2023 Total funds 2022 Interest receivable 93 Totsl 2022 Other Incomlng rè8ourco5 Unrestrlcted lunds 2023 Total lund$ 2023 rol81 funds 2022 Govemment grants 10,522 Total 2022 10,522 10,522 Page 23 CYCUSTS FIGHTING CANCER UMITED (A Company limited by guaranleel NOTES TO THE HNANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023 Ex￿ndIture on raislng funds Costs of ralslng donations and legacles Unrestrlct funds 2023 Total funds 2023 Tol81 funds 2022 Fundraising and events- direct costs Fundraising and events- supwrt costs Retail operations support Wages and Salaries Nl contributions Pgnsion txintribullons 56,018 31.775 125.187 93,439 6.727 2,809 56.018 31.7YS 125.187 93,439 81.557 29,227 81, 737 199.626 10,174 3,968 2.809 315.955 315,955 406.289 Tot812022 406,289 406,289 Anatysl8 of •xpendlturn on charltsble actmd Summary by fund type Unrnstricled Restrlcted funds funds 2023 2023 Totsl 2023 Tot 2022 Bikes and related equipmant Other direct costs Support costs Wages and salaries 162.240 1.128 105.543 58.878 36.114 198,354 1.128 105.543 $8.878 93.212 285 57.071 327.789 36.114 363,903 150,568 Total 2022 137.5L>J 13.059 I￿.568 Page 24 CYCUSTS FIGHTING CANCER UMITEO (A company Ilmlt•d by guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANVARY 2023 10. Independent examlneV5 remuneratlon 2023 2022 Fees payable to the Charitable companrfs independent examiner for the independent examination of the Charitable compangs annual accounls Fees payable to the Charllable companV$ independent gxaminer in respect 12,600 l othèr Servi￿ r￿1 I￿uded above 2.000 1,500 11. Staff costs 2023 2022 Wages 8nd salaries Social secvrfty costs 0th8r pgnsion costs 152,317 6.727 2,809 203,601 10,174 67,533 161,853 281.308 The average number of pgr%Th empw by tha ChaTttstIg company durlng the year was as follows.. 2023 No. 2022 No. Support staff Management li 12 No employee Tecerved remuneration aThKJunting to m￿0 than £60,000 in eilher ypar. Remuneration to key management pernonnel wilhin the Jrar totslled £45.46212022." £43,042J. Durmg the year. the Charity ￿ltrIbUt￿ £2,809 (2022.. £3.968) to defin8d contribution perbsion schemes. There were no outstanding amounts due al Ihe ￿ar￿rKI. Page 25 CYCUSTS RGHTING CANCER UMITED (A company Ilmlted by guaranttt) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023 12. Trustees. remunernti¢)n and expenses Durfng the spar. no Tntslees r￿1Ved remuneralion or other be￿S (2022- £NIL). E)uring the ￿•r ended 31 January 2023. no Tnjstee exponsos have been incurred (2022- £NIL). A$ referred to in the Truslees. Report Ihe dwity enferejj a team into the Race Across America cycle race. The team was niade up of4 cyrlists and 8 support team members. Within the parttclpants were trustees lone cyclist arKI one support team). The travel and subsistence costs for all of the t8am, including trustees, were mèt bythè d*rity whth raised £46,000 after expenses. 13. Tanglble Ilxed assots Pl•nt and machln•ry Motor Flxlures and vehlcles fltllng$ Computer equlpment Total Cost or valuatlon Al 1 February 2022 Additions Disposèls 3.760 29.854 7,305 1,946 42,324 12,992 19.5001 (9,5001 At 31 January 2023 3,700 31,400 1,405 9.251 45,816 Deprnclatlon Al 1 February 2022 Charge for the year On disposals 742 17,303 8.131 (1906) S.463 1.056 24.572 10,468 18.9061 341 At 31 January 2023 16.528 1,405 6,519 26,134 Net book value Al 31 January 2023 2.078 14872 19.6B2 At 31 January 2022 3.018 12.551 341 1,842 17. 752 The net book value of r￿ed assets induded aL*)ve wlmth are hehj uThler hi￿ ￿ChaSe contracts aro.. 2023 2022 Motor vehides 7,952 Page 26 CYCUSTS FIGHTING CANCER UMrrED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023 1& Stocks 2023 2022 Donated bikes and csryAing 9￿1$ 198.5S7 172,739 15. 2023 2022 Due wlthln one ￿ar Amounts owed by group urKJertakw Other (lebtors 158,348 19 158,367 1& Cr•dltoTr: Amounts falllng dutr wlthln one year 2023 2022 Tr8de creditors Olher taxation and social se(YJTity Obligations under finance lease and hire purth8se contr8cIs Other creditors Accwals and delerred income 31.338 1.798 2,204 354 131,338 29,590 3,586 2,204 6,400 14,100 167,032 55.880 Included within acCn￿lS Is £118.743 of retharggs not invoK*d lo the tharity by the subsldSary. 17. Cr8ditors: Amounts falllng due after moro than one year 2023 2022 Net obligalions under fina￿ lease and hire purthase contracts 4,042 6,246 Page 27 CYCLISTS FIGHTING CANCER UMrrED (A company Imited by guaranlee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023 Statement of funds Statement of funds- current year Balane• at 1 Febnlary 2022 Balance at 31 January 2023 Income Expandltura Unrestricted funds General FurKIs 306.560 082,393 (643.744) 345,209 Ro$trl¢tod funds Sgl-up and nJnnirKJ of the Cantx Fiti)ess dasses at Stanford Hospital Gl¢JJceslershire Oxfordshire Buckinghamshire. B9rkstrHre, H8rtlrydshlre. Oxfordshire and West Sussex Peter Harrison Fund 29th hrtay 1961 Tru31- Wark & Cov Edward Cadbury- BirMw￿haM Rolands Trust- Gloc Lawson Trust- Kent and Sus Baron Davenport- Bmm Spirax Sarco AMMCO- Oxfor(Ishire WED- Wesl Midlands 24 1.214 1,OlY> (1.214) (1,000) (2,427) (16.032) (5,000) (3,000) (2,000) (5,000) 25.000 5.000 3.000 2.000 5,000 1250 3,000 500 500 8,968 1.250 2,559 500 500 {441) 4665 45250 13,801 Totsl of funds 311225 727.643 (679,858) 359,010 Page 28 CYCLISTS FIGHTING CANCER LIMITED {Aeompany ￿MIted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023 Statement of funds (¢onllnued) ststement of funds- prlor year 5818nce 81 31 J8nu8ry 2022 l Febmary 2021 Ino)me Expenthture Unrestrlcled funds General Funds- all fiThls 132.231 718.12r (543,798) 306,560 Restrlcted funds Set-up and running of the Cancer Fitne58 classes at Stanknd Hospital Bikes and trikes Gloucestershire OxfoTdshir8 Buckinghamshire, Berf(shire. HertI￿dShirfj. OxloTdshire and West sU￿X Peter Harrison FurKI 24 24 7.TOO 3,000 (f, TOO) (t, T86) 1,214 1,000 (1.573) (2.000) 2,427 24 IT,700 (13,059) 4,665 Total of fvnd• 132.255 735,827 (556,857) 311,225 Funds are amounts donated for the purchase of tikes in &eas. Page 29 CYCLISTS FIGHTING CANCER UMITED (A company Imited by guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023 19. Summary offvnds Summary of funds - Current y Balance at 1 Febrnary 2022 Balance at 31 January 2023 ome Expendlture General fvnds Reslricled furKIs 306.560 4.665 682.393 45.250 (643.744) {36.114) 345,209 13.801 311.225 727,643 (679,858) 359,010 Summary of funds. prfor year k9alance al l Febwary 2021 Balance al 31 January 2022 G¢noral funds Restricted funds 13a231 24 718.127 17.70Q (543.798) (13.059) 306.560 4.665 132,255 735.827 (556.857) 311.225 Page 30 CYCUSTS FIGHTING CANCER UMITED (A company Ilmlted ty guarantee) 140TES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023 Analysls of net assets btheen funds Anatysls of ftet assets between . ¢urr•nt year Unrestrlcted Re5tr1cted funds funds 2023 Totsl funds 2023 Tanglble fml assets Current Bssets Creditors due wiihSn one year Creditors due in nh)r8 than one 19.682 4￿.601 (167.0321 {4.0421 19.682 510.402 {167,032) {4.042) 13,801 Total 345,209 13.801 359,01D Anaty818 of Dgt as$•ts bolw•en fund# - prior y•ar Unresfrfctgd funds 2022 Reslrfcted funds 2022 Total funds 2022 Tanglble flxed assets Current assets Creditors due wilhin one year Creditots due kn more than (Th 17,752 350,934 (55.880) (6.246) 17,752 355,599 (55,880) (6,246) 4,665 Total 306,560 4,665 311,225 Page 31 CYCUSTS FIGHTING CANCER UMITED (A company Ilmlted by guarnntee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023 21. Reconclliation of nel movemènt In funds to net cash Ilow from opgratlng actlvlt106 2023 2022 Net in￿rne for the sear {as pw staterr￿ of Fin￿1 Adivit*s) 47.785 178,970 Adjustmonts for: Depreciation Charges Interest r￿e1Ved Increase in stocks Decreasellincrease) In debt¢*5 Increaselldecrease) in uedito 2,337 193) {2S.818) (158.367) 111,152 9.904 {4) f87, 192) 32 {34,823) Not cash provlded byllus¢d In) operatlng aGtlvlll•s (23.004) 66,887 An•tysls of cash and cash equlvalenl8 2023 2022 Ca8h In h8nd Notice deposits Ile55 Ihan 3 rn(mths) 2212 151266 1.454 181.406 Total cash and cash oqulv•l•nl• 153,478 182.860 Analys1$ of Changes In debl At31 January 2023 Fèbruary 2022 Cash flows Cash at bank and Hi h8rKI Finance leases 182.860 18A50 (29.382 1204 153.47 16,2461 174.410 (27,1781 147.232 Page 32 CYCUSTS FIGHTING CANCER LIMITED (A company limited by guaranle•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023 Relat￿ paty transactions During the year Cyclists Fighting Cancer Limited had varw)us transactions wth its wholly owned trading subsidiary, CFC Relail Limited. The subsidi8ry incurred £118.743 of expenses that will be invimced lo the Chaiity in the Jpar eNJed 3110112024 aThJ were 0ustW￿ as al the pr end. The charity had transacti￿ vKYlh £158.348 with CFC Retsl Llmiled whth were still ¢￿tstanding as al the year end. There a￿ no other related party lrnns8cIK)ns to disdose. Page 33