Registered number: 07194338 Charity number: 1140017 CYCLISTS FIGHTING CANCER (A company limited by guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 CYCUSTS FIGTrmNG CANCER (A company limit•d by guarantee} CONTElffS Page R•for•n¢o and admlnlstratlv• detslls of tho Charlty. Its Trnstees arml advlsors Trustsos. roport Ind•pondent auditorfs roport on the finan¢ial $tatsments Consolidatèd statement of financlal actlvltles 2-11 12-15 16 Consolldat¢d balance sheet 17-18 Charfty balanc8 sh•gt Con$olldat•d statoment ol cash flows 19-20 21 Notss to the flnanclal statements 22-39 CYCUSTS FIGHTING CANCER (A company Ilmited by guarantee) REFERENCE AND ADMINISTrATIVE DETAILS OF THE CHARrrY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JANUARY 2025 Trustees R Salisbury {resigne(11 February2025) K Musgrave Dr D E Seddon S Miles (resigned 10 May 2024) E A Pharaoh R W Torrance (reslgned 6 January 20251 M G Irvine {appoinled 12 January 2025) D A Eady {apwinted 1 May 2025) Company rnglstsred number 07194338 Charlty reglstered numbgr 114{￿17 RegISter￿ offlce 154 Masons Road, Stratlord-Upon-Avc CV37 9NF Chl•f •xKUt1￿ offi￿r Mike Grisenthw￿ts Ind8p•nd•nt audltor Cr¢)we U.K. LLP Stalulory Auditor Black Counlry House Rounds Green Road Oldbury Wesl Midlands 869 2DG Bankgrs The CLNoper8tive 8ank No 2 Cathedral Square The Cloth Market Newcaslle U￿ft Tyne NE1 1EE Page 1 CYCUSTS FIGHTING CANCER (A company Ilmited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 JANUARY 2025 TRUSTEES REPORT The Trustees who are also directors ol the Charity for the purposes of the Companies Act 2006, present their report with Ihe consdidaled financial statements of the Charity Cyclists Fighting Cancer Limsled and the wholly owned subsidiary, CFC Retail Limiled for the year eTrJed 31st January 2025. The Twstees have ack)pted the provisions of Accounting and Repx)rting by Charitie5". Statement of Recommandad Practice applicable to charities preparfng their accounts in accordance with the Financial Reporiing Standard applicable in the UK and Rewblic of Ireland IFRS 102) (effective 1 Jarthry 2019 OBJECTIVES AND ACTIVITIES The general objects of th8 Charity remain unchaw and primarity to h* chihlren lfvlng with and beyond cancer through advlty and axerc186. slated tharity o¥ects, In Ilne wllh the memorandum and artidès of asso(xation are.. To TelSeve the needs of children and young peO￿e aged 18 and under Sn the UK who are affected by cancer and to PTomote and protect their physical and mental health Ihrough Ihe provislon of bicyde8, tricydes, Irallers and other cs¢ling reL8led aeLessories. To relieve tt)e needs ol all person5 who are suryiving can￿r ¢hrough ¢h8 provisi￿ of support and Information on the benefits of activity arKI exercise. 21 Each year in the UK, around 2.400 children aThJ y(￿ng peopk up lo the age of eighteen are diagnosed wllh n¢er. While Ireatmenl can bring many physlcal and em￿onal challenge5. children show incrediblè resilience and strength throughout their ioumoy. Somg of Ihe mos¢ common experiences during treatment may includg: Pain Fatigue Reduced cardiovaswk9r fitrw8 Musclo weakness or tightness Changes in balance or sensath)n In hands feet Coordination challenges Temporary impacts on self*$¢e8m. (YJnllden￿. or body Image Thanks to ongoing research. we rw)w know that regular physical actNity is t￿th safe arKI hlghty beneficial for chlldren 8nd young people affected by cancer. Exerclse plays a wtsl role in enhancing physical and psychoiogical wellbeing, supporting recovery, and reducAng the impacl of trealrr*nt side effects. 11 also helps bulkl independence. confidence. and lasliry lrienrjships through shared expwiences. Al every stage of treatment and bewnd, we enwurage thiklren and JDung peop￿ to stay 8¢thve in ways that feel right for them. We especially pr(Mnote cyding as a ftjn. low-impact, and accessible aclivity Ihal brings a sense of freedom and joy. Whether enjoyed as a family advenlure or as a way for older chihjren lo explore indepondenuy, cycling offer5 the chance to conne¢ ￿rf)Ve, and redisc#)vef confH1enc￿t their own and in their own time. Page 2 CYCLISTS FIGHTING CANCER (A company Ilmlted by guaranlee} TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 202S H¢)w Cy¢llsts Flghtlng Can¢•r Is funded Cyclists Fighting C8nceT is proudty SUpp￿ted a wde range of fundraising aGtivilies and the incredlbie generosity ol our community. Our funding ccmes from: Publlc and sponsored events- The amazing efforts of wdi¥ts and Supp￿[$ who take on sponsorod challenges and aclivilies across the UK and beyond. Community and business support- Donations from local dubs. b￿nesSeS, and OrganiSa￿￿5 who fundraise on our behalf. Charltable grants- ApplicalM)ns to chaiilable fouThJallons and thjsts th8t share our mlssion. Corporate partnershlps- Collat(srations wilh compani8$ kgen to mako a diffgroncg through thdr Corporate Social Responsibility prcorammes. Charlty retall- Our Charity Bike Shop oullets generate income by selllng reconditioned bikes, parts, donated dothing, and cycling accessorles, all klndly given by the public. Nonrlists to rwje and fundralse for CFC. PUBLIC BENEFIT The Trustees confirm they hove rngard to the Charity Comnmssion's guidance on public bengfiL ACHIEVEMENTS AND PERFORMANCE In Ihls reporting p¢riod we have defNered: AwordT Numb•f In 202415 Nurnl￿ In 202314 In¢roa8• Total 8ik85 and trikgs awarded 872 643 +229 Bikes to ¢hlldren with ￿nCer 441 +122 Tilkos to childr8n wilh cancer ecialist Ad lions 14 13 sitji blkes 194 Parent blkes +15 Holme 870 +240 Stabilisws 87 Home trainers 17 17 Hospltal Exercise Equipment Page 4 CYCLISTS FIGHTING CANCER (A company limitsd by guarantee TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025 Our annual Impact Report" hvJhlighted the remarkalAe outcomes of our clkgritls work this year. Drawing on P8r8nts f88db8ck from onè hurKlr8d And elèven family resKM)n58s regarding their children's experiences fdlowing receipt of thelr CFC bikesltrikes. the ffiThthngs clearfy dem(￿strate the powerful difference C￿Ing has made in their lives in the following areas: Activity and soclal ¢onno¢tlon: 95% reported being rnore physIc￿lY active 89% ex￿rienCed more ph￿C81 &tivity and enpyed greatsr soual intèraclion with thèir sibliry Phys1￿1 ￿lIbl￿n9. 93% noticed improved strength 84% exptrrienced greater stamina 78% saw better balance 72% reported enhanced coor(ilnallc Mental w•llbelng: 861lk fell a boost In mood 76% gained confidence 75% experienced higher seW4sleem These results refflect not onty increased physical fitness bul also stronger Sodal bonds and improved emotional wellbelng- a powerful testamenl lo the posilive impact ol our worf(. 'Our full impact rekX)rt18 avallable onllrva via sl Fundralslng and Operatlonal Hlghllghts 2024r25 The Charity recorded a cL)ns￿idated surplus of £1854 for the yEar. This ouicome reftects a year of significant growth and Investment notably a 35.6% increase in the number of bikes, trikes, and specialist adaplalions provlded, alongside a planned redvctlon In funding SUPFth from retail wrations as we focused on long-lerm sustsSnabllNy and expansh)n. Fundralslng Actlvlty Income 2024125 Income from Fundraisers £129,930 Income from Trusts and Grants £125,145 Income from Sale of Reconditioned Bikes £489.793 Donations. sponsorships. and gwants conlinue(I to be the Charitls largest Source of income. CFC'S national profile has grown substantially. thanks lo the inspiring efforts of OUT fundraising team. whose work encouraging others lo host events on our behalf has delNere(l impressive results. The number ol riders arKI supporters n(lependenlly fundraising for CFC in¢Teased again this year, rellecting our expanding (XKnmunity of advocales. We also received ts¥o Ma1￿ grants lotsming over £130.0(M)- a strorKJ endorsement of our impact and the tru51 placed in our mission. Page 5 CYCUSTS FIGKllNG CANCER {Acompany limited by guarnntse) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025 Retsil operations have shown encouraging progTrss, Twlth the investrnenl in our new Stratford-upon-Avon premises and additional slaff conlribuling to 8 rw)t8Ne percentage increase in lumover during Ihe year. As highlighted earfler, applications for bikes rose by 35.6%. arKI the average cost of bikes and trikes Intre8S6d by approximaldy 7%. Despite these rising Costs. the growth in income enabled us to meet every eligible apFAlcallon, ensuring mcKe children benefrted from our7hth than g¥er befcrfe. To meet this growing demand. we expanded wr operational cap8Thty by employing a dedicated bike builder and nationwide d8livery driver further improving &￿￿lencY and ensuring timety. high-quality service for OUT beneficiaries. RosoTve8 Pollcy The Charity had nel assets of £246,315 as at 31st January 2025. Thi5 represents a £1854. Unrestricted r88eryes amounted ¢0 £178.626 at 31 Januwy 2025. Thè trustees have agreed the following reserves policy.. Resorve ol t1￿,000 lo cover ryiThJ experwjrture in the event of a short4erm drop in inccffltr. A rosorve of £60,000 as wcxking capitsl to cover stcK* ftjr res8￿ In the Retail operatiorts. As the unrestricted reserves Oft￿ slvJhUy exceed this the Charity focusiThJ its efforts on raising more funds during 2025126 to support its amblil¢)us plgns to delNer even more bikes and trikes to children wlh cancer in 2025126. PRINCIPAL RISKS AND UNCERTAINnES Rlsk management The Senior Managemenl Team has u)nducted a Wkgw of Ihe major risks lo which the Charity is exposed. A rlsk r¢gisler has bgen 9Stablished and is updated al least annualty. Where appropri818, syslems or procedures have boen eslablishe(I to mitigate the risks the Charity faces. Significant extemal risks to funding have led lo tha developrnenl of 8 Strategic plan which wll allow for diVersif￿ti0n of funding ar￿ activities. Internal control risks ore minimised by Ihe implemenlalion of pnxedures for aLrthorisati¢w of all Iransaclw)ns and proiects. Procedures are in place to ensure eompliance with Ihe hèalth and safety of staff, volunteers. service users and customers visiting our premises. These procedures are peri¢¥j￿1￿ reviewed to ensure that thoy continue to meet the needs of the Charfty. CFC has embraced a dynamK strategy to erKJaga fundraisers vA)o are exploring a broader range of events and challenges besrjnd cycling. While the wdey economic dimale presents some uncertaint*s, CFC remains tvoaclive in diversifwng aThJ strengthening ils income streams thmugh retail operations, corporate partnerships, 8nd Trust Grants. The Charity Bike Shops ¢(mtinue lo make an outstanding and growing contribution to overall funding. Alongside thè sale of donated bikes. the Charity's irwèstment in expanding bike servicing and accessoriès sales positions CFC well to suslain and grow ts impacl. even arnKI potential fundraising fluclualions. CFC'S thr88 retail locations at Stratford upcffl Avon, Chellènham and MaKhesler are experiencing steady revenue growth. ￿ excikn.ng plans Unde￿aY lo expantl fvrther in London. Although this growth brings an inuease in operating costs asswated wlh wemises and staff. the Iruslees are c(￿r￿ent that new localions open doofs to fresh sources of donated bikes and expanded community engagement-benefils expgcted to OLtheigh the additional costs. Moreover. as the ￿1311 bugness fo(JJse5 on rewnditM)ned bikes, these sales are expected lo remain ￿$111ent even during economic sk)wdowns. reinforcing the stability and sustainability of CFC'S orErdlions. Pag8 6 CYCLISTS FIGTrfflNG CANCER IA company Ilmlted by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025 EMPLOYEES Cyclists Fighting Cancer is commilted lo an indusive ar￿ equal opwrtunittes recruitrnerlt poli￿. Our long-temi success aNI Impact are drwen by the passion. taFenL and dedicalion of our employees. We believe in nurturing potential and ernpowering every team member to perform al their best. By altracling capable. m0￿¥8ted, and talented Individuals. and ￿pportIng their growth through handwin mentoring aThl skill development, we creat8 a workplace where everyone can thriv8. Our aim is lo ensur8 that every rde is both slimulatsng and rewaiding, fostenng excellgnce across th8 organlsation. THE BOARD The Board of Twstees is resp(Thible for the strategic govemanca of the Charlty. The Board of Twstees meet al spe¢lfic Interva￿ thr￿ the year and a￿ re$ponslble for setting the overall Strategy of the Charity. Al each meeting. the Board receives repcwts on all aspects of the Charity's work. The trustees review the skills audit to Klentify speafic skill sets that would strengthen the Board's overall effectiveness. The Board operates an equal opportunllies recruilm8nt policy and Iruslee5 that are recruited are requlr¢d to have derrNYsstrable experience In the areas kjenlified by Ihe skllls audlL Trustee R•crultm?nt. Inductlon, and Trnlnlng Trustee ￿cnjl1menI Is foujsed on Individuals who have an inleresl in our work, they wll most likely have a professional skill or qualifical¢on in Ihe fields of chlkjren's cancer, fitness and exercis8. cyding, or businèss exp8rience that wll enhance the Charitys existing aThS luluTe adivlties. Curr8nUy and conslilutlonally. there ￿8 no lime limit on Irusleg appowilmenls. Most Iruslags are already famliar with the praclical work of Charity however. before appointment all now truslees are inviled and encouraged lo attend at least Or￿ quartedy tTUStee meeting. a team or charity event. and one of our Charity blke Shops to familiari58 themsefvès with the Charity and the context within which It 0￿rates. An in(luclion pack drawing information from Ihe variws Charity Commission publications slgnpostsd through th8 Commission's guide 'lhe Essenlial Trustee" as a follow up to these sessions. I￿S is distributed lo an new Iruslees along with the Memorandum and Articles aNJ Ihe latest financaal statements. Page 7 CYCUSTS FIGtrfflNG CANCER IA company limited by guarants•) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025 STRUCTURE. GOVERNANCE AND STRUCTURE Govemlng Document The Charity operates in accordance wilh its g)veming do(yJment. Memorandum and Articles of Associauon, and is incorpofated as a rLJrnpany limited by guarantee under Ihe provisions of the Companies Act 2006. This structure Pfovides a robust legal and govemance framework that underpins the Charity's activities and supports its Commitn￿nt ￿ transparency. acrAJuntabilty. arKI effective manag8ft￿nL Safeguarding The Tru81ee8 are proud to uphold tho Charitys sm Lyjmmitmenl to safgguarding. They ensure that comprehensive procedures and policies arg in pkn to promote th8 safety. wellbeing, aNJ prolectton of 011 chlldren and vulnerable a(ILlls we support. They follow the gukjance of the Charity Commlssh)n and have al r6vlewed the Department for Educatlon's document'Safeguar(ling for Trustees,. To rnaintsin the hlghest standards. the Charity has Implemented the ftAlowing meosuw.. Appointment of a Trustee overdll r8sponsitiility for safeguarding and a designated safeguardlng18ad. Rigorous safe recruilmenl practices. ind￿ing lull DBS (Disclosure arKI Barring Semce) checks for all staff working with people. Regular safeguarding training for all Trustees and staff, 1811￿e￿ lo their roles and refreshed every ygaTS. Clear reporting procedures to ensur6 all Trustees arKI staff knthv how lo act promptly and appropriatsty tf conc8fns arise. Slrong risk and safeguarding assessment pracllces lo onsure that every event Is managed with the utrn08t care for the safety of ￿Ung people. staff, and volunteers. Volunteers Volunteers are an essential part ol our opgration In everylhing we do from rèpresenlatirm at fundralslng events to delivering bikes to our service users. Ihe main body of volunteers ar8 engaged at our Charity bikes shops helping to reconOlJonlng bicydes. The Trustees deeply value the incxedible contit)ulion of our vdunteers and exlend heartfelt thanks lo everyon8 who glves their time 8nd energy to support thjr mlsslon. Special appreciation goes to thosè who asslst in the ts'ke shops and to the staff of Cydists Fighting Cancer who volunteer al fun(Jraising events across the county- Your enthuslasm and dedK8tlon make a real drfference. Pay Pollcy For Senior Staff CFC trustees believe that it is important to be trartsparent 8bcAJl the pay levels of ils senicK managers and how those salarie5 are set. OLtr salaries are benchmarked against similar roles in the Charity sector and by using the Office for National Slatislics UK d81abase reports. For all roles. induding senior wsts. pay strategy is for salaries to be between the lower and medi8n qLwtiles for w4uivalenl positions. with some 11exibilty applied to take into consideration the specific requirements for each post and to ensure that we (an recruit and retain the best people for the role with both the skills required and the passion for the serv¢ce. P8ge 8 CYCLISTS FIGtrmNG CANCER (A company limitad by guarantee) TRUSTEES. REPORT ICONMNUEDI FOR THE YEAR ENDED 31 JANUARY 2025 Chief Executlv• The Board entrusts the da￿t￿aY management of Ihe Charity to the Chief ExecutNe. vA)018ads the delwery of our strategic goals and ensures that all poliaes are consi8lenUy uphekl. The chief Executive is supported by t￿Pable and committed Senior Management Team who report directy to him, working together to 8¢hieve the Charity's mission. Related Partl¢s AI Trustees serve on a voluntary basis arKI do not receive any remuneration or petsonal benefits for their work wllh thè Charity. Any expenses incurred while carrying OLrt Trustee duties are relmbursed by the Charity and lulty disclosed in the financial statsments, ensuring transparency and accountability. Page 9 CYCLisfs FIGHTING CANCER (A company limited by guarante8) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025 Statement of Trusts￿. Responsibilili95 The Truslees are responsiblè for th8 preparation of the Tfuslees. annual rtrwrt 8nd the financial stslemenls in accordance wilh applicable law and United ￿"ngdoM Accounting Stan(Jards (Unitsd Kingdom Generally Accepted Accounting Practice). In compliance with company and d￿rity law. the Trustees arg required to prepaffj finantial $latements for eaGh finanaal year that present a true and lalr of the finanaal ￿￿tion and ￿rforManCe of the group and parent charity. In fulfilling these responsilylitie& Ihe Twstees musL Select suitable accounting Fdictes and appty them t>)nsislenlly. Observe the methC￿S and prin¢iF4es set out in the Charities SORP. Make judgments and accountin9 estimates Ihal are reasonable and prudent. Stsle whether applicable accounting star+dards have been followed. subject lo any material departuros belng dlsclosed and explalned in the financial statements.. and Prepare the ffinancial statements on a cO￿8M basis. Unl￿ il 1$ inappropriate lo assu￿* Ihat the Charity will ￿ThtinUe ils operations. Th8 Twsl88s arg furthgr responsitrAe for mainlainlr4J adequale acuxjntlny recor(Is that are sufflclenl lo record and explain Ihe Charilvs transact￿ns. to disclose wilh reasonable a￿uraCY lis financial posilK)n 8t 8ny given time, and lo ensure compliance with thè requirements of the Companies Act 2006. They are also responsiblg for safeguarding the assets of the Charity and for taking appropTFate measures lo prevenl and dglect Iraud and other Irregularltles. In addition, the Trustees are Tesponsitde for the maintenance and integrity of the corporBle and financial Information Snduded on the Chafiils website. Legislation in thè United Kingdom goveming the preparation and dlssemin81ion ol financlal statements and other information induded in annual reports may differ from legislation In olherjurisdictlw￿. The Trustees are supp￿e ar￿ its subsidiaries Ilhe 'group'l for the year ended 31 January 2025 which compr¢se Ihe Consolidated slalement of rinancial aclivilies, the Consolidated balance sheet, the Charity ba5ance shoel. the Consolidated statement of cash flows and the related notes. induding a summary of significant accounting polici&s. The financial reporting framework that has been applied in their preparatkjn is aP￿Icable law and United Kingdom Accounting Standards, Ind￿ling Financial Reporting Standard 102 The Financial Repo￿.n9 Standard applicable in the UK arKI Republic of Iroland, (United Klngdtyn Generally Accèpted Accounting Pr*ice). In our opinion the ffinanclal stslements: gfve a true and falr Y￿W 01 tho State of the Group's arKI of the p8rent tharitable Lyjmpanls affalrs as 8t 31 January 2025 and of the Group's ThomlNJ resources ond aFWicatson of resources. Induding Ils Income and expenditure the yEar then ended. have been properly prepare(l in accordarte wlth Unite(l Generally Accepted A¢￿￿nting Practice- and have been prepared In arthrdance with lh8 requirements of the Companles Act 2006 and th8 Charflles Act2011. Ba8ls for oplnlon We Conducted our audit in accordance Inlemalional StaThJard$ on Audiling IUKI {ISAs (UK)) and appllcable law. Our r8sponsibililies under Ihose slandar(l$ are lurther described in the Auditorfs responsibilities for the audit of the financial ststements seciion of our repcwt. We are indèpendent of the Group in accordance wllh the ethkal requirements that are relevant lo our audit ol Ihe finanrAal stslemgnls in the Unitèd Kingdom, including th9 Financial Reporting Council's Ethul Standard, and we have fvlfilled our other ethical responsibilities in accordance with thes8 requiremgnts. We believe that the audbt evidence we hav8 oblained is $uifi¢ient and appropriate lo provide a basis for our opinion. Conclu8lons ffgl*lng to golng ¢on¢•rn In audiling the financial slatemenls, we have conduded that the Truslees. u5& of the golng concom basts of acc(yJnliNJ In the preparation of the finanoal statements ￿ apwopriale. Based on the work we have perfom)ed. we have rtot identif￿￿ any matsrial uncertainties relating to events or conditions that. individualty or collectively. may cast ￿gnificant (loubl on the Group's or the parent charitsble companYs ability to continue as a g)ing u)n￿rn for a FerKxl of at ￿3st months from when the financial ststements are aulhorised for issu8. Our respon￿bIlItieS and the reSE￿￿1b11￿les of the Trustees wth respect to wng concern are deSCTibed in the re18V8nt sections of this iewrL other matters Th8 charitabte company vras exempt from audit in the year eTrJed 31 J￿Vary 2024 and consequently the corresponding figures are unaudited. Our Opini(￿ is not modified in respecl of this matter. Page 12 CYCUSTS FIGHTING CANCER (A company limiled by guarante9} INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CYCLISTS FIGHTING CANCER (CONTINUED) Other information The other information comprises the Informati￿ induded in the Annual report other than the financial statements and OUT Auditorfs report thereon. The Trustees are respMsible for the olhgr infomi8tw)n eontained within the Annual report. Our opinion on the financial slalements does cover the other information and. except to the extent olherwise explicitly stated in our report. we do not express any form of assurance conclusion Ihereon. Oijr reS￿)nSibIlItY is lo read the other information and. in doing so, consider whether the other Information rs materialty inconsistent with the financial statements ￿ our knrAYledge obtained in the course of the audit, oi otherwise appears to be materially misststed. If we identify such material inconsislencie5 or apparent material mlssialemenls, we are required to determine whether this gives rise to a material misslatemenl in the financial statements themselves. If. based on the wort w have perfomwy. c4inc4ude that there 18 a material misslalement of this other InformaUon, we are required to report that facL We have nolhlng lo report in this regard. Oplnlon on other matters pr0￿rfbed by the Companl•s kt 2006 In our oplnlon, based on the ￿￿1rk undertaken In the course of the audlL the Infomation given In ts Trustees. Report for the fInar￿al year for vthlch the financlal staternents are pr9pared is consislenl with the finanual slalomgnts. the Tru$teos' Report has been prepared n accordance with applicabl8 legal ffjquireTh￿nt8. Matter8 on whbch w• •r• roqulred to report by exceptlon In the light of tsjr knowledge arbj und¢Tstsnding of the charita￿e company and ils envlronmenl obtained In th8 course of the audit, we have not *Jenlified motgrial ffusststements in the Trustees, Rgport. We have rx)Ihing to f8POrt in resFeCt of the folk)wing matters in relation to wpuch Companies kt 2CW roquSres U8 to report to Sfju rf. in our opinion.. the paT&nt chariiable company has not kept adequate and SuffiC￿nt accounting recor(18, or r6lums adequate for our audit have not been receNed from branches not visited by us,. or tho parent charitable company financi* stalen￿nts are r￿t in agreement with the accounting records and relums- or certain disdosures ofTruslees' renwneratton wfi8d by Traw are not made: or we have not received au the information and exF4anations we require for our audit.. ¢y the Trustees ￿re not enlilled to prepare the finano81 statements in accordance wilh the small companies regime and take alvantsge of Il* small companies. exemptlons In weparing the Trustees, Report and from the requirement to prepare a Strategic Reixjt Page 13 CYCL15T5 FIGTrmNG CANCER (A company limited by guarantee) INDEPENDENT AUDrroR'S REPORT TO THE MEMBERS OF CYCUSTS FIGHTING CANCER (CONTINUED) Responslbllltles of tfugtees As explained rnore fully in the Tru51ees' reswnsibilities statement, the Tru51ees {who are also the director8 of the ¢harilable company for the purposes of company law) are responsible the p￿paratiOn of the financial stslements and for being satisfied that they give a true and fair vw, and for such inlemal control as the Trustees determine is n8C8ssary to enab￿ lh8 proparation of finanaal stalernents that am fr8è from matsdal misslatemenl. whether due lo fraud or effor. In preparing the fin8nelal statements, the Twslees are ￿sponSIble for assesslng the Group's and the parent charitable companls abÉlity lo continije as a going concem. disclosing. as applicable. matters related lo going concem and using the going concem basis of accounting unless the TTUStees either intend to liquidate the Group or the parent charitable company or to cease operalions. or have no realistic allemalive bul lo do so. Audltorfs respon$lbllllles lor tha audlt of the financSal sLitan*nts Our obleclives are lo obtain reas(Thble assuran￿ about whether the financial stslements as a whole are free from material mi55tatemenl, whether due lo fraud or effty, and to i8sue an Auditorfs report that Includes our oplnlon. Reasonable assurance Is a high level of assurance. but is nol a guaranto8 that an audit Conducted in accofdance wth ISAS (UK} WUI a￿VayS delect a material misstatemenl w￿n il exists. Mis$latsments can arise froffl fraud or error and are considered material if, indmdualty cff in the aggregate, they could reasonably be expected lo influence the e￿nomIC ¢Jerysh)ns of usfjts taken on the basis of Ihese financial statements. Irregularities. inclu¢Jing Iraud. are instances of non-txmtllance wlth kgws and regulations. W? design procedurgs in line with our rèsponsibilities, outlined aiknie, lo delect material misslalements in respect of irregularities, including fraud. The exlenl to which t￿r pr￿edureS are capable of delecling Irregu￿ritIes, including fraud Is detailed below: We obtained an underslandlryj of Ihe 18gal and regulaw frarfw￿rKS ￿1hin whith thg charitable company ¢)perales, focusing on those laws and regulations that have a dlrect effecl on the detemiinallon of maierfal amounts and disdosures in tho financial statements. The laws and regulations we considered in this context were the Companies 2￿6. the Charities Acl 2011. together with the Charities SORP IFRS 1021. We assessed the required Complian￿ with these k3w3 and regulations as part of our audit procedures on the related financial statement items. In addibon, wè considered provi8ions of other laws and regulat￿$ thal do rK)t have a direct effect on the financial slalements bul compliance with mKJhl be fvndam8ntsl to lh& chariiable coMpan￿S abtlily to operate or to avoid a material penalty. We 81s0 considered the opportunities and inconlives that may exist within the charitable ¢omp8ny for fraud. The 18ws and regulalions we considered in this context for the UK operatSons were laxakn'on legislation and emknent18gislatm. Auditing standards limit the required audit Pr￿edureS lo identify rm)rrfomplian￿ wilh these laws and regulalions to enquiry of the Trustees and other management and inspeclion of regulatory and legal correspondence. if any. Wg idènlffied tha graatesl risk of material impact on the finanaal statements from i￿egularl11e$, including fraud, lo be within the recognition of grant income and the override of controls by managernenl. Our audit procedures lo respond lo these risks induded enquiries of management abDUt their own NJenlTficalion and assessment of the risks of irregularities, sample testing the posting of joumals. deswJning and perfomiing a￿lt prO￿d￿re5 over gTant income. reviewng accounlir¥J eslimates for biases, revwing regulatory CorreSp￿dence with the Charity Commission. and rea(ling minutes of FYwtiThJs of those charged wtyth govemance. 8ec*use of the inherent limItatic￿ of an audi( Ihere is a iisk Ihat T￿ noi detect all i￿egula111les. induding Poge 14 CYCLISTS FIGHTING CANCER IA company limited by guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CYCLISTS FIGHTING CANCER (COP￿INUED) those leading to a material misstatement in the finandal statements ￿ nOn￿mpli8Th¢e with regulation. Thls rSsk increases the more that compliance or regulation is removed from the èvenls and transactions rellecled in the financial statements, as we will be less likely to bec4)me awa￿ of instances of nonvcompllance. The risk is also greater regarding irregularities occurring due lo fraud rather than error, as fraud involves Intsntional concealmenl. forgery. collusk)n. (￿￿$s￿)n or rrisrepresentalion. A fvrther deSCrip￿n of our rnstx)nsibrfitss for Ihe audit of the financial slalem6nts b k)cated on the Fin8ncial Reportlng Councif8 website at.. .uklaudito sibililies. This dgscrsption foms part of our Audilorfs retKJrt. Uso of our rew¢ This report is made sc4ely to the charitable coThwnls membors. as a body, wi awdance wllh Chapter 3 of Part 16 of the Companles Act 2006, and lo Ihe tharitable companys members. as a body, Part 4 of the Charllles (Accounts and Reports) Regulations 2￿. Our audit work has been urnlertaken so Ihal wo might sl818 lo the charitable companls membèrs those matters ￿ a￿ required to stste to them in an Auditorfs report and for no other purpose. To the fullest exlenl permitted by law. we do not accept or assume responsibility to anyong other than Ihe charitsble company and its memt*r8, 8$ a bc*ty. for audit work, for this r8POrt, or for the opinions we have fom)ed. Helen Blundell LL8 FCA FCIE DChA Isenlor sta￿lory audltor) for and on behalf of Cr¢we U.K. LLP Stslutory ALKJilor Black Country House Rounds Green Road OldbLbry Wesl Midlands B69 2DG Date.. Page 15 CYCUSTS FIGHTING CANCER IA ¢ompany Ilmlted by guarantse) CONSOLIDATED STATEMENT OF FINANCIAL ACTWMES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 JANUARY 2025 Total nds 2025 rofal funds 2024 funds 2025 funds 2025 Income from: Donations and legacies Charitable activittes Olhgr trading activilles Investments 305.419 489.793 315.974 115237 420,656 489.793 315.974 1,040 316,692 368,996 225,425 830 Total Income 1.112.226 115.237 1.227,463 911.943 Expondlture on: Raising fU￿S Charltable activll 760.616 760,616 464.993 677,587 349,012 60.324 Total expondlturo 1.165,285 0.324 1,225,609 1,026,599 Ngt mo¥em•nt in fvnd• 153.059) 54,913 1.854 (114,656) Reconclllatlon of ft•nd#: TO1￿ funds brought foThv8rd Net movement in funds 231.685 (53.0591 12.776 ¥913 244.461 359,117 (1t4,656) Total funds Catried forward 17 174626 67,689 246,315 244.461 Page 16 CYCUSTS FIGTrmNG CANCER (A company limited by guarantee) REGISTERED NUMBER: 07194338 CONSOLIDATEO BALANCE SHEET AS AT 31 JANUARY 2025 2025 2024 Flxed a$uts Tangible assets 12 68,797 95,300 Current assets Stocks Debtors Cash al bank and in hand 13 14 73.456 122,649 25,032 177,389 217,126 298.018 265,070 Curront IlabSlltt• c￿ditOrs.. amounts falllng due wthln c￿e year 15 188,8681 f82,328) Net currènt as8•ts 209.150 182, 742 Total a8SOts less Cufront 15abi15ti 277,947 278,042 Creditors: amounts falling due after more than one year 16 (31,632) (33,581) Total net assets 246,315 244,461 Page 17 CYCLISTS FIGHTING CANCER IA company limited by guarants•l REGISTERED NUM8EIL' 07194338 CONSOUDATED BALANCE SHEET (CONTINUED) AS AT 31 JANUARY 2025 2025 2024 Note Charity fund# Reslrictsd funds Unreslricled ftjnds 17 17 67,689 178.626 12.776 231.685 Total funds 246.315 244,461 The Trustees 8d(novledge Iheir reSpo￿bIll￿eS for complwng with Ihe ￿quIrements of the Aci wlth respect lo accounlbng records and preparali¢)n of finenryal ststements. The financial stslemenls have been prepared ￿ a￿)rdan￿ with Ihe provisions apFdKabk to enlilies subject lo the small companies regime. The finanool stateM￿ts were approvad and authortsed for Issue by tha Trustees and si9ned on thelr behalf by: K Mu8grav• Date.. &811012025 The notes on pag8s 22 10 39 fom part of the$8 finandal slatements. Page 18 CYCLISTS FIGtrmNG CANCER (A ¢ompany limited by guarantee} REGISTERED NUMBER: 07194338 CHARITY BALANCE SHEET AS AT 31 JANUARY 2025 Note Flxod assets Current a$set8 Current Ilabllltles Net Current a$$ets Total a8￿ts loss Current Ilabllltles Totrl not ass•ts Page 19 CYCUSTS FIGHTING CANCER IA company Ilmited by guarantee) REGISTERED NUMBER: 07194338 CHARrrf BALANCE SHEET (CONTINUED) 8 AT 31 JANUARY 2025 Charity lund¥ Restricted funds 17 67.689 Unrestrtcted funds 17 {67.6891 Total funds Tha CharlW8 nel movement in funds for the ￿ar was £NIL (2024- £NIL). The Trustees acknowledge their responsibilities lor complying ￿th the requirements of the Act wllh respect lo accounting records and weparation of financial stalements. The financial slalevnents have been prepared in ac¢c￿nce 7hith the provlslons awlicable to enlilies subject lo the small companies regime. Tho finandal 8tatem8nts were approvod and aulhfSi8ed for bSSU8 by the Trusto8s and slgnod on Ihoir behalf by.. K Mu8grav• Dats.. G8110/202 notes on pages 22 10 39 forrn part ofthese fina￿10$ ststements. Pag? 20 CYCLISTS FIGFMNG CANCER IA company hmlt8d by guarantee) CONSOUDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JANUARY 2025 2025 2024 Note Cash flows from 0￿ratIng acthiltles Net cash used in ope1￿r￿ acli 108.741 (4,288) cash flows from Inv•stlng activities Proceeds from the sale of tangible r￿fjd assets Purchase of tsngible fixed assets Interest received 2,273 (33.402) 830 (4.372) 1,040 Net ¢aJh used In Invostlng actlvltl 13.332) (30,299) Cash Ilows from flnanclng actlvitles RepayThgnls of finance Fea888 Inlgresl pald on hirè purchasg 11,947} 13.7251 16.496) Net cash used In flnanclng actlvltlei {5.672) (6.496) Chango In cash and cash •qulvalonts In the year Cash and cash equivalenls al the beglnning of the ￿ar 99,737 (41,083) 158,4T2 117,389 Cash and cash •quivalonts at thg gnd of the year 21 217.126 117,389 The not88 on pages 22 10 39 form port of these finanaal statements Page 21 CYCLISTS FIGIMNG CANCER {A¢ompany limited by 9uarnntse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 General Informatlon Cyclisls Fighting Cancer is a company limited by guarantee and a registered charity (Charity no.114CN)17} (Company no. 071943381, Incorporated and registered in England and Wales. The registered office of the Company is 154 Masons Road, Stratfor¢>Upon-Avon. Eng5and. CV37 9NF. Un¢ted Kingdorn whloh is also the ￿ncIpal place of tAJsln8ss of the Company. The Charity is a company limiled by guarantee and has no share ￿pItal. The fiability of each member Sn the event of windlng-up is limited to £1. Accountlng pollcles 2.1 Basls of preparatlon olllnanclal statsmwts The financial statements have been prepared in accordance Wbth the Ch8rities SORP {FRS 102} - AccountiThJ and Reportlng by Charilies.. Statement of Recommended Praclice applicable lo chari1Ses preparing their accounts in ￿rdaftee with Ihe Financial Reporling Standard applicabl6 in th8 UK and Rgpublic of Ireland IFRS 102) (effeclive 1 January 2019), Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and Ccffipanies Act 2006. Cyclists Fighting car￿ar m88ts tha definibon of a PU￿1¢ benefit enlity under FRS 102. Assets and liabilities are initialty reuunised al historical rmt or tran88Cth)n value unless oth￿Ise $ts1gd In the relevant accounting policy. The Consc4idated slatemenl of ffinartial actiwties (SOFA) and Consolldaled balance sheet ¢onsolidate th9 financial st81emenls of the Company and ils subsidiary undertaking. The results of the subsldlary ore o)nsoMdaled (ffi a15ne ty line ba￿8. The Group has taken advantsge of the exemption allowed under secllon 408 of the Companles Act 20C￿ arKI has r￿t presentod its own Slalement of financial activitss in theso financial stalemenls. Pag8 22 CYCUSTS FIGIMNG CANCER (A company limrt¢d by guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 Accounllng policies (corktinu 21 Income AJI income 18 reo)gnr¥8d once the Group has entitlement to the income, il is probable that the Incomè wlll be rewved ar￿ the amount of i￿)rne re￿IVat￿e can be measured reliably. The recognilion of ineome from lega￿ is dependent on establlshing entiuemenl, the wobability of receipt and Ihe ability lo estimate with sufficient accuracy Ihe amount receivable. Evidence of entitlement to a legacy exists when the Group has sufficient emdence that a gift has been left lo them Ilhrough knowledge of the existence of a valid wll and the death of the benefactor) and the executor Is satisfied thal the property in question wdl ￿t bè required to satisfy claims in the estate. Receipt of a legacy must be r8cognised when il is probable that rt will be received and the fair vabje ot the amount receivable. which VAI generalty be the exFeCted cash amount to be dlstrfbuled lo the Group. can be reliably measured. Grants are included in the Consolidated ststemenl ol ffinandal acti￿110s on a ￿CeiVable basls. The balance of income received for specific pufposes bul not expended during tho period is shown in thè relev8nl funds ￿ the Balance sheet. Where income is receNed in adv8nce of enliuement of receipt, ts reco9nition is deferred and induded in uedilors 8$ deferred income. Where enlillemenl occurs befo￿ Income is receivgd. the income is amed. Donallons and gifts are rgcognised when r￿91¥al)le. In the event a donation is subject to fulfllllng performance coThJitions before the Group is entitled to Ihe fur￿5. the income is deferred and nol recc*Jnised until il is probable that It*)8e conditions be fulfilled in the reporting period. Incomo lax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognlsed al th8 lime of the donaknon. Donated go￿$ (being bikes. ck)Ihlng and other cyda rdaled products) are recognised as income on receipt at an estimate of their value lo Group. Fair value Is assessed by the rglail man8ger al an eslimale of the resale value loss the cost to sell thg goods. Donated goods that remain unsold at Ihg year end are included in the year end stock figure In the b￿ance sheet Income lax Tècoveratrle In ￿lati0Th to investrnent In￿me is reeognised al Ihe lime the investmonl ncome is re￿1Vable. Trading incL)me is recognis8d on wnt of Sa￿ for b)Ih th)naled arhl purchased goods. Page 23 CYCUSTS FIGHTING CANCER IA ¢ompany limited by guaranlee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 Accounting policie$ {¢ontlnued) 2.3 Expendlturo Expenditure is re¢ognised once there is a ￿31 or Const￿¥8 oblig8tbon to transfer economic beneflt lo a third party, il is probable Ihal a transfer of economic benefits will be required in Sett￿ment and the 8mounl of the obligation can be measured reliably. Expendi￿re is classified by activity. The costs of each activity are made up of thè total of direct costs and shared cosls. including support costs involved in undertaking each activty. Direct costs altributable to a single activity are 8llocated directly lo that actiwty. Shared costs which contribute to more than one adivity and suppori costs which ar9 not attributable lo a single a￿1Vity are apw)rtioned betsveen those athities on a basis consistent with the use of resources. Cenlral staff costs are allcrated on the basis of tim? spent, and depTeciaUon charges allocated on the portion of the assel's use. Expendlture on ral* funds includes all expendlture incurred by the Group to ro1$e funds for Its charitable purposes and indudes costs of all fundrak8ing activities evenls and nonsl using the effective interest method. Pagg 25 CYCUSTS FIGtrmNG CANCER IA company limited by guarantee) NOTES TO THE FINW4CIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 Accountlng policlès (¢ontlnued 2.11 FlnanGe leases and hirè purchase Assets obtairkèd under hir& purchase ¢y)ntracts arKJ finance leas8$ aré capitalised as tsngible fixed assets. Assets acquired by ffinan￿ lease are depreciated over the shorter of the lease term and Ihoir useful lives. Assets acquired by hire purchase are deprwated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the Group. Obligatlons under such agroements are induded in creditors. net of the finance charge allocated lo future periods. The finance element of the rentsl payment is charged to the Consolidated statement of fInan¢1￿ activilk8s so as to produce a constant periodic rate of charge on the ngt obligallon outstanding in each period. 2.12 Penslons The Group operates a defined conlritHJt¥M pension scheme and the pènslon charge rèpresents the amounts par4ble by the Group to the lund in respect of tho year. 2.13 Fund accoundng General funds are unreslricled funds whth are available for use al the discretion of the Trustees in furtheTan¢8 of th8 gener￿ objectives of ihe G￿￿P arKI which have not been designated for other purposes. Restricted funds arg funds are to be used in aecordance wlih speclfjc rgstrictlons Imposed by dowrs or which have been raised by the Group for partlcular purposes. The costs of raising and administering such funds are charged against the specific fund. The alm and use of e8ch reslriclèd fund is set out in the notes to the financial statements. Investment income, gains and losses to the approprlate fund. Crltlcal a¢¢ountlng eGtlmates and areas of ludgement The Group makes certain e5tim8tes and assumplions regardlng the future. These judgements and eslirnates affect the application of ￿KieS reported amounts of assets, liabilities, Sncome and expenses. Eslimales are continually evaluated ba￿ on historical experience and expeclalions of future events ihat are believed to be reasortable under the circumstances. In the future, aclual experience may differ from these 8slimales and assumplions. In preparing Ihese financial statements, the directors have had to make tho judgements and eslimales in relation lo the depreciation of fixed assets and valualSon of stocks and valuati(m of d(ThtKJns in knnd. Critical aco)unling eslimales and aSSLwnp￿ns. Depreciation of tangible fixed assets: Tr Charity estimaie5 ts useful economic lives of assets and applies depreCia￿n rates aCC￿d￿￿Y. Valuation of donations in kind- Donated bikes are included in stock at a notional unf( cost which 18 considered to be representsti¥e of an average value recoverable befor8 assessment and refurbishment tskes pla￿. This notional unff Cost reflects the fact that all bikes will require assessment and not all will b8 fil for onward sale. most wll require some 8ddilional time or parts costs before being made available for sale. The nolional unbt cost has been assessed by the relail manager and Iruslees as a reasonable assessment of th8 fair value of the a55ets to the Charity on receipt of the donatic￿. Page 26 CYCUSTS FIGHTING CANCER {A compaTry Ilmlled by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR E14DED 31 JANUARY 2025 Income from donatlons and lega¢le$ Unr•strlcted Restrlcled funds fund¥ 2025 2025 Total funds 2025 l)onali¢)ns and legac Indepenllenl fundraisir Grants and trusts 110.344 129.930 65,145 55.237 165.581 129,930 125,145 00.000 Total 2025 305.419 115,237 420,656 Unrestricted Restrlcted lunds funds 2024 2024 Total funds 2024 Donations and legacSe8 Independent fundraising Grants arKI tnjsls 26,582 173,082 76,578 40.450 67,032 173,082 76,5T8 Total 2024 276.242 40,450 316.692 Page 27 CYCUSTS FIGHTING CANCER (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 Income from donatlons and legacles (¢ontinuedl Grants recgN9d for the year are as folkn￿: 2025 2024 Club Peloton The Chorfgs L9wis Foundation Edgar E Lawley Foundation The Hospital Saturday Fund Thales Charitable Trust The Toy Twst The Goodman Foundalion Misses CM Pearson & MV Willams Charitable Tntsl Medicash Foundation The Blakemore Foundalb)n Souter Charitable Trust Ecclesia511c81 R S 8rownles8 Charitsbte Trust De Brye Charllatle Trust Malchroom Charitable Fcmjndation The Gallagher CrynrThJnity Furwj 109,445 1,000 4T.778 2.5tXI 1,500 2,000 1,000 10,000 2,500 100 3,000 200 3,000 200 10,000 125.145 76,578 Ineomo from charltable adlvltle8 Unrestrlcted nds 2025 Tolal funds 2025 Tol* funds 2024 Shop sales- donated stock Incr8aselldecreasel in value of donated st￿k Misc sales 486,860 451.504 (86,198) 3,690 2.933 2.933 Total 2025 489.793 489.793 368.996 All income from other twllry thilies in prior ypar was unreslTthd. Page 28 CYCUSTS FIGHTING CANCER IA company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 In¢om• from other tradlng actfvltles Income from non charltable tradlng a¢ll¥ltles Unrestri¢ted funds 2025 Total fund$ 202S Tofal funds 2024 Incom6 from evenls TradSng incom9 from SLbbsidi8ry 170 315,804 170 315,804 948 224.477 Total 2025 315.974 315.974 225,425 All Income from other tradlng actlvit* In prior ￿ was unrestrfcted. Expondlturo on ral$lng fund¥ Costs of ral$lng voluntary Incom• Unrestrl¢tsd funds 2025 Total funds 2025 Tol81 funds 2024 Fundraising and events- direct costs Fundraising and events- $uFwrt costs Relall operati￿$ support costs Wvages and salaries Nl contrfbulions Pension contributions 1,798 27,920 112,762 39,713 2.970 817 1,798 27,920 112.762 39.713 2,970 817 5.980 18, 161 184,234 37,338 1,144 917 Tolal 2025 185.980 185.980 247,774 Page 29 CYCLISTS FIGHTING CANCER {Acompany limlted by guarantoe) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 Expendltur¢ on raislng funds (¢ontlnued) Other tradlng expenses Unrestrlcted funds 2025 Total funds 2025 Total funds 2024 Trading expenses Trading expensgs- staff costs 224.679 349,957 224,679 349.957 149,550 280,263 Total 2025 574,636 574,636 429,813 Al expendlture on ral8lng fur￿$ In ptr ￿r was unreslrkled. Anaty•l$ of expendlture on ¢harltable adlvltle¥ Summary by fund ty Unrnstrl¢t•d Restrfeted lunds funds 2025 2D25 Total 2025 Bikes and related equipment Support costs Wages and salades 208.001 93,385 103,283 60,324 268,325 93.385 103,283 Total 2025 404,669 60.324 464.993 Unreslrlcled fvnds 2024 Restncled funds 2024 Total 2024 Bikes and relaied eqvlpment (Xher costs Support costs Wages and sabaries 179.901 2.372 66,167 59.097 41,475 221,376 2,372 66.167 59.097 Total 2024 307.537 41,475 349,012 Page 30 CYCLISTS FIGHTING CANCER (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 AudltoVs remuneratlon 2025 2024 Fees payable to Ihe Charitys auditorfor the aLMlit of Ihe Charltys annual accounts (2024- independenl examina1￿} Fees payablo to the Charitys auditor in respect ofr. Consoli¢Jaled accounts preparation Accounts weparation of SLFbsidiary AJI non4udil services not induded at 19.OIM> 5,250 2.850 1,650 2,800 1,650 1,000 10. Stsff c08ts Group 2025 Gr¢)up 2024 Charlty 2025 Charity 2024 Wages arKI salari88 Swal securlty cosls Contr¢bU￿On lo defined contribullon pension schemes 456.718 31.213 351,218 22.473 135,994 5.068 496.740 378, 759 135.994 The wages and salarles ￿$1S r8charged subsidiary and parent have been updated this year lo be more represenlalNe of the Iraile perform￿ in each entity. As this is a change in estimate no prior year restslement has been issued. The average number of parsons employed by the Charity during the year was as folknws: Group 2025 Group 2024 Support stsff Management Trading subsidiary 15 15 20 19 Page 31 CYCLISTS FIGHnNG CANCER IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 10. Staff costs {contlnued) No employee recelved remur*rntion aff￿nting to more £60,(J)O in either w. During the year, Ihe Charity o)ntributed £9,094 {2024- £5,8C61 to defined contribLbtion penslon schemes. At the year end ther8 were tyjtslanding tjjntribulicffls 01 £46812024- £4471. RemLsneraUon lo key managem￿1 personnel wthin the ￿Or totaued £82,597 {2024- £48,346). 11. Trust•eS' femun•ratlon and ex￿n8•S Dudng thfj year, no Trustees recew any remuneration or other bgnefits (2024- £NIL). During the year end8d 31 January 2025, rn) eKp8nse8 wern reimbursed or paid directly to ts Trustee8 (2024- £128 to 2 Trustees) for travel exper￿% 12. Tanglble fixed assets Group Plant and rnachlnery Motor Flxture¥ and vohi¢le$ flttlngs Computer èqulpmont Totsl Cost or valuatlon Al 1 February 2024 Addilions 8.578 2.118 96.712 15.50B 8.912 129.710 4,372 At 31 January 2025 10.696 97,545 15,$08 10.333 134,082 Depreclatlon Al 1 February 2024 Charge for the year 3.124 21.378 23.665 2.671 3,241 7,237 1,621 34,410 30,875 Al 31 January 2025 5M72 5,912 8.858 65.285 Net book valu• Al 31 January 2025 52,502 9.596 1.475 68.797 Al 31 January 2024 5.454 75.334 12,837 1.675 95.300 The nel b￿k vahje of fixed assets I￿luded above whK* are hekl hire purchase contraGts is £26,993 (2024- £3&991J. Page 32 CYCLISTS FIGHTING CANCER (A company limitèd by guarantee) NOTES TO THE FINANGIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 13. Stocks Group 2025 Gmup 2024 Donated bikes and ￿ling gcrtxls 73.456 122.649 14. Debtors Group 2025 Group 2024 Trad6 debtors Other debtors PrepayThenl8 and accrued Ikv>)m8 2,679 504 4,253 25,032 7,436 25.032 15. CTgdltors: Amounts falllng due wlthln one year Group 2025 Group 2024 Trade fxedito Other taxation and social security Obllgations under financè lease and hire purchasg contracts Other creditors Accruals and defefrod income e1,342 7.383 2,162 1.890 16,091 51.860 13.042 2,160 1,747 13,519 88.868 82,328 P8g8 33 CYCUSTS FIGHTING CANCER {A company limited by guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 16. Cfedltors: Amounts falllng due after more than ¢ne year Group 2025 Group 2024 Nel obilgations under finance lease and hire purchase contracts 31.632 33.581 17. Strtem•nt of ft•nd8 Statèrngnt of funds- current y￿r Balance at 1 F•bruary 2024 Balancg at 31 January 2025 Income Expondltur• Unrnstrlcted funds Gen¢ro1 Funds 231,685 1,112.226 11,165.285) 178,626 Rostrlcttd funds Other restricted funds < £2.500 The Earf Fi￿lI11aM Trust Spirax Sarco The Rowlands Trust Simon Gibson Charitsbl8 Tnjsl John James Bllstol F¢yJndation The Arsenal Foundalt( Club Pelolon The Shanly Foundation 5.21 7 5,000 2,559 38,737 {39,7971 (1,290} {2,5591 4.157 3.710 2.518 4,OQQ 3,067 2,500 44.737 3,000 4,000 4,000 2,500 60,000 3.000 {933} (15,263) 12.T16 115,237 160.3241 67.689 Total of funds 2¥461 1.227A63 (1.225,6091 246,315 Page 34 CYCUSTS FIGTrmNG CANCER {A company limited by guatsntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR EMDED 31 JANUARY 2025 17. Stat•mènt of funds l¢onllnued) Stat•m8nt of funds- prlor year Balance al 31 January 2024 2023 Incvme Expenthture Unrestrlct¢d funds General Funds 345,316 871.493 (985,124) 231.685 Restrlctsd funds Other reslrfcletl funds < £2,5 The Earf Fitzwilliam Trust Spirax Sarco Peter Harrison Fund The Spirit of Sheffield's Chiklren's Tn The 29th May 1961 Ch8ritsble Trust Michael Marsh Charilable Trust Mlsses Barrie Trust 2.274 14,450 (13,883) 2,841 5,000 2,559 2.559 (3,000) f8,968J (4,624) f5,OOOJ (3.000) (3,OOOJ 2,3T6 13,801 40,450 (41,475) 12.776 Total of funds 359,177 911.943 {1,026,599J 244.461 The feslricted fvnds Itemi8ed are for the purthase of bikes for bgneficiaries in spoufic geographiGal areas Page 35 CYCLISTS FIGHTING CANCER IA company fimited by guarnntse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 18. Summory of funds Summary of funds . CUTr8nt year Balanco at 1 February 2024 Balance at 31 January 2025 Income Exp8ndSture General fvnds Restricted fund8 231.685 12.776 1.112.226 {1.165,285) 115237 {60.3241 178.628 67,689 244.461 1,227.463 11.225.609) 246.315 Summary of funds- wlor year Balance al l February 2023 Ba18nc8 81 31 January 2024 Inconw Expenditurg General funds Reslricled fuNJ8 345,316 13.801 871,493 40,450 (985,124) f41.475) 231,685 12,776 359,117 911,943 (1,026,59St) 244,461 Page 36 CYCLISTS FIGIMNG CANCER IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 19. Analysls of not assets betw•￿ funds Analysls of net assots betw••n fvnds- currenl perlod Unrestrlcted R•$trlcted fund$ fund$ 202S 2025 Total funds 2025 Tangible fixed assets Currènt assets Credltors due within one yEar Creditors due in more than one 68.797 230.329 188,8681 {31,6321 68.797 298,018 188,8681 {31.6321 67.689 Total 178,626 67,689 246.315 Anolysl$ of net a880ts htween funds. prlor p•rlod Unr8Strfct8d funds 2024 Rgslricted funds 2024 Total fvnds 2024 Tangible fixed assets Current assets CredSlors due wthin one year Creditors due In mor8 than one Jear 95.300 252,294 (82.328) (33,581) 95.300 265.070 (82,328) (33,581) 12,776 Totsl 231,685 12,776 244,461 Pago 37 CYCUSTS FIGTrrfiNG CANCER (A company limited by guaTantso) NOTES TO THE FIPIANCIAL STATEME14TS FOR THE YEAR ENDED 31 JANUARY 2025 Reconciliation of net movement In funds to net Cash flow from operating actlvftlgs Group 2025 Group 2024 Nel IncomelexFeTrJilure for the perw)J (as Statement of Financial AGlivlliesl 1.854 fl14,656) Adjustments for: Depreciation charges Interest received Decr6ase in stocks DecreasellincTeasel in debtors Increase in creditors Interest Pold 30,875 11,0401 49,193 17,596 6,538 3,725 21,940 (830) 8T,557 (21,748) 23,449 N•t cash provlded by1(uS￿ in> opgrallng acdvltle5 108,741 (4,288) 21. Analysll ol cash and Cash equlvalonts Group 2025 Gmup 2024 Cash In hand Notice deposits (less than 3 months) 92 217,D34 6,228 111.161 Total cash and cash equlvaltnts 217.126 117,389 22. Analysls of Changes In net debt At1 February 2024 Cash flow8 At31 January 2025 Cash at bank and in hand Finance leases 117.389 (35.741) 99,737 1,947 217.126 {33.7941 81,648 101.684 183.332 Page 38 CYCLisfs FIGkmNG CANCER (A company limlted by guaranteo NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 23. Related party transactlons During the year Cydists F￿hling Cancer Intsjrred expenses with Totem Communlcallons for telephone cosls of £599 {2024- £1.605J and a loan of £Nil (2024- £20.000) was received and repaid. Cydists Flghling Cancer recelved £3.000 (2024 - qcw) from Sholum Developmant$ for corporatg donallons. All amounts were settbj at the year end. During the year Cydists Fighting Cancer had varic￿ recharged transact¢ons with its wholly owned trading subsidiary, CFC Reiail Lirrriled for labour. parts and relevant OVerh&￿S. The Charity owed £4,306 {2024- owed from £31. 140) lo CFC Retail Limited at Ihe year end. Therè are no other relate(I paty transadions lo dischM. 2& Controlllng party There is no ultimate ¢ontrolllng paty. Page 39