## **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