Simply Cycling
Charity No. 1143362
Trustees' Report and Unaudited Accounts
31 March 2021
Simply Cycling Trustees Annual Report
The Trustees present their report with the unaudited financial statements of the charity for the year ended 31 March 2021.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity No. 1143362
Trustees
The following Trustees served during the year:
L. Clarke
A. Lewis
A. Saunders
G. Wood
Accountants
Nabarro Poole Ltd
31 Church Road Northenden Manchester
M22 4NN
OBJECTIVES AND ACTIVITIES
The purpose of the charity as set out in its governing document is to promote cycling for the public benefit and in particular for persons with disabilities and learning difficulties primarily in the North West of England as a means of furthering the charitable purposes:
1) The promotion of healthy recreation in the interest of social welfare; and
2) The advancement of education by whatever means the trustees think fit, including the provision of cycling facilities, services ,training and education
STRUCTURE, GOVERNANCE AND MANAGEMENT
The members of Simply Cycling Committee are trustees of the charity as specified in charity law. Under the requirement of the constitution, the management committee shall consist of not less than 3 trustees who shall be appointed for a period of three years.
Statement of trustees' responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the charity's trustees
L. Clarke Trustee 20 October 2021
Page 1
Simply Cycling Independent Examiners Report
Independent Examiner's Report to the trustees of Simply Cycling
I report to the trustees on my examination of the accounts of Simply Cycling for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011('the Act'). The trustees consider that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed.
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in, any material respect:
-
the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Tyler Lappage A.C.C.A Nabarro Poole Ltd 31 Church Road Northenden Manchester
M22 4NN 20 October 2021
Page 2
Simply Cycling Statement of Financial Activities
for the year ended 31 March 2021
| Notes Income and endowments from: Charitable activities 3 Other trading activities 4 Investments 5 Other 6 Total Expenditure on: Other 7 Total Net gains on investments Net income/(expenditure) 8 Transfers between funds Net income/(expenditure) before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricte d funds 2021 £ 98,102 23,301 3 50,953 |
Total funds 2021 £ 98,102 23,301 3 50,953 |
Total funds 2020 £ 23,953 102,299 241 - |
|---|---|---|---|
| 172,359 142,417 |
172,359 142,417 |
126,493 140,431 |
|
| 142,417 - |
142,417 - |
140,431 - |
|
| 29,942 - |
29,942 - |
(13,938) - |
|
| 29,942 | 29,942 | (13,938) | |
| 29,942 100,899 |
29,942 100,899 |
(13,938) 114,837 |
|
| 130,841 | 130,841 | 100,899 |
Page 3
Simply Cycling Balance Sheet at 31 March 2021
| Charity No. 1143362 Fixed assets Tangible assets 10 Current assets Debtors 11 Cash at bank and in hand Creditors:Amount falling due within one year 12 Net current assets Total assets less current liabilities Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds 13 Unrestricted funds 13 General funds Reserves 13 Total funds Approved by the trustees on 20 October 2021 |
2021 £ 63,471 63,471 4,207 65,380 69,587 (2,217) 67,370 130,841 130,841 130,841 130,841 130,841 130,841 |
2020 £ 63,035 |
|---|---|---|
| 63,035 - 40,082 |
||
| 40,082 (2,218) |
||
| 37,864 100,899 |
||
| 100,899 | ||
| 100,899 | ||
| 100,899 | ||
| 100,899 | ||
| 100,899 | ||
And signed on their behalf by:
L. Clarke Trustee 20 October 2021
Page 4
Simply Cycling Notes to the Accounts
for the year ended 31 March 2021
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
-
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
-
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
-
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
-
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
-
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
-
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 5
Simply Cycling Notes to the Accounts
Expenditure
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT expenditure which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities charitable activities and services in the furtherance of its objects, including the making of grants and governance costs. Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
- Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from tax on its charitable activities.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Equipment 20% Straight line Motor vehicles 20% Straight line
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.
Page 6
Simply Cycling Notes to the Accounts
2 Statement of Financial Activities - prior year
| 2 Statement of Financial Activities - prior year |
|||
|---|---|---|---|
| Income and endowments from: Charitable activities Other trading activities Investments Total Expenditure on: Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 3 Income from charitable activities Grants and donations 4 Income from other trading activities Membership subscriptions 5 Income from investments Bank interest |
Unrestricted £ 98,102 98,102 Unrestricted £ 23,301 23,301 Unrestricted £ 3 3 |
Unrestricted funds 2020 £ 23,953 102,299 241 126,493 140,431 140,431 (13,938) (13,938) (13,938) 114,837 100,899 Total 2021 £ 98,102 98,102 Total 2021 £ 23,301 23,301 Total 2021 £ 3 3 |
Total funds 2020 £ 23,953 102,299 241 |
| 126,493 140,431 |
|||
| 140,431 | |||
| (13,938) | |||
| (13,938) | |||
| (13,938) 114,837 |
|||
| 100,899 | |||
| Total 2020 £ 23,953 |
|||
| 23,953 | |||
| Total 2020 £ 102,299 |
|||
| 102,299 | |||
| Total 2020 £ 241 |
|||
| 241 |
Page 7
Simply Cycling Notes to the Accounts
6 Other income
| Coronavirus Job Retention Scheme 7 Other expenditure Other interest payable Employee costs Motor and travel costs Premises costs Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets General administrative costs Legal and professional costs 8 Net income/(expenditure) before transfers This is stated after charging: Depreciation of owned fixed assets 9 Staff costs Salaries and wages Social security costs Pension costs No employee received emoluments in excess of £60,000. |
Unrestricted £ 50,953 50,953 |
Total 2021 £ 50,953 50,953 |
Total 2020 £ - |
|---|---|---|---|
| - | |||
| Unrestricted £ - 96,181 3,840 2,630 28,214 9,579 1,973 142,417 2021 £ 28,214 89,546 3,337 1,593 94,476 |
Total 2021 £ - 96,181 3,840 2,630 28,214 9,579 1,973 142,417 |
Total 2020 £ 44 83,749 11,089 9,335 27,088 7,205 1,921 |
|
| 140,431 | |||
| 2020 £ 27,088 75,214 3,339 1,602 |
|||
| 80,155 | |||
Page 8
Simply Cycling Notes to the Accounts
10 Tangible fixed assets
| 10 Tangible fixed assets | ||||
|---|---|---|---|---|
| Cost or revaluation At 1 April 2020 Additions At 31 March 2021 Depreciation and impairment At 1 April 2020 Depreciation charge for the year At 31 March 2021 Net book values At 31 March 2021 At 31 March 2020 11 Debtors Other debtors 12 Creditors: amounts falling due within one year Other taxes and social security Accruals and deferred income |
Equipment | Motor vehicles £ 36,463 22,490 58,953 25,702 7,188 32,890 26,063 10,761 |
Total £ 197,584 28,650 |
|
| £ 161,121 6,160 167,281 108,847 21,026 129,873 37,408 52,274 2021 £ 4,207 4,207 2021 £ 1,617 600 2,217 |
||||
| 226,234 | ||||
| 134,549 28,214 |
||||
| 162,763 | ||||
| 63,471 | ||||
| 63,035 | ||||
| 2020 £ - |
||||
| - | ||||
| 2020 £ 1,618 600 |
||||
| 2,218 | ||||
| 13 Movement in funds Restricted funds: Unrestricted funds: General funds Revaluation Reserves: Total funds |
At 1 April 2020 |
Incoming resources (incl. other gains/losses ) £ 172,359 172,359 |
Resources expended £ (142,417) (142,417) |
At 31 March 2021 £ 130,841 |
| 100,899 | ||||
| 100,899 | 130,841 |
Page 9
Simply Cycling Notes to the Accounts
14 Analysis of net assets between funds
| 14 Analysis of net assets between funds | |||
|---|---|---|---|
| Fixed assets Net current assets 15 Reconciliation of net debt Cash and cash equivalents Net debt |
At 1 April 2020 £ |
Unrestricted funds £ 63,471 67,370 130,841 Cash flows £ |
Total £ 63,471 67,370 |
| 130,841 | |||
| At 31 March 2021 £ |
|||
| 40,082 | 25,298 | 65,380 | |
| 40,082 40,082 |
25,298 25,298 |
65,380 | |
| 65,380 | |||
| 16 Commitments Operating lease commitments Annual commitments under non-cancellable operating leases are as follows: 2021 2021 2020 Land and buildings Other Land and buildings £ £ £ Operating leases with expiry date: Pension commitments 2021 £ The pension cost charge to the charity amounted to: 1,593 |
2020 Other £ 2020 £ 1,602 |
Page 10
Simply Cycling Statement of Cash flows for the year ended 31 March 2021
| Cash flows from operating activities Net income/(expenditure) per Statement of Financial Activities Adjustments for: Depreciation of property, plant and equipment Dividends, interest and rents from investments Increase in trade and other receivables Decrease in trade and other payables Net cash provided by operating activities Cash flows from investing activities Payments for property, plant and equipment Dividends, interest and rents from investments Net cash from/(used in) investing activities Net cash from financing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year |
2021 £ 29,942 28,214 (50,956) (4,207) (1) 2,992 (28,650) 50,956 22,306 - 25,298 40,082 65,380 |
2020 £ (13,938) 27,088 (241) - (1,525) |
|---|---|---|
| 11,384 (33,980) 241 |
||
| (33,739) | ||
| - | ||
| (22,355) | ||
| 62,437 | ||
| 40,082 | ||
| Components of cash and cash equivalents | ||
| Cash and bank balances | 65,380 | 40,082 |
| 65,380 | 40,082 |
Page 11
Simply Cycling Detailed Statement of Financial Activities
for the year ended 31 March 2021
| Income and endowments from: Charitable activities Grants and donations Other trading activities Membership subscriptions Investments Bank interest Other Coronavirus Job Retention Scheme Total income and endowments Expenditure on: Other expenditure Other interest payable Employee costs Salaries/wages Employer's NIC Pension costs Staff training Temporary staff Motor and travel costs Travel and subsistence Premises costs Rent General administrative costs, including depreciation and amortisation Depreciation of Equipment Depreciation of Motor vehicles Equipment leasing and hire charges Equipment repairs and maintenance |
Unrestricted funds 2021 £ 98,102 98,102 23,301 23,301 3 3 50,953 50,953 172,359 - - 89,546 3,337 1,593 - 1,705 96,181 3,840 3,840 2,630 2,630 21,026 7,188 2,055 - |
Total funds 2021 £ 98,102 98,102 23,301 23,301 3 3 50,953 50,953 172,359 - - 89,546 3,337 1,593 - 1,705 96,181 3,840 3,840 2,630 2,630 21,026 7,188 2,055 - |
Total funds 2020 £ 23,953 |
|---|---|---|---|
| 23,953 | |||
| 102,299 | |||
| 102,299 | |||
| 241 | |||
| 241 | |||
| - | |||
| - | |||
| 126,493 44 |
|||
| 44 | |||
| 75,214 3,339 1,602 476 3,118 |
|||
| 83,749 | |||
| 11,089 | |||
| 11,089 | |||
| 9,335 | |||
| 9,335 | |||
| 19,795 7,293 1,854 1,248 |
Page 12
Simply Cycling Detailed Statement of Financial Activities
| General insurances Software, IT support and related costs Sundry expenses Telephone, fax and broadband Legal and professional costs Accountancy and bookkeeping Total of expenditure of other costs Total expenditure Net gains on investments Net income/(expenditure) Net income/(expenditure) before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
3,856 - 2,291 1,377 37,793 1,973 1,973 142,417 142,417 - 29,942 29,942 - 29,942 100,899 130,841 |
3,856 - 2,291 1,377 37,793 1,973 1,973 142,417 142,417 - 29,942 29,942 - 29,942 100,899 130,841 |
1,228 150 1,502 1,223 |
|---|---|---|---|
| 34,293 | |||
| 1,921 | |||
| 1,921 | |||
| 140,431 | |||
| 140,431 - |
|||
| (13,938) | |||
| (13,938) - |
|||
| (13,938) | |||
| 114,837 | |||
| 100,899 |
Page 13