On Your Bike (Recycle) Ltd {A Charitable Company Llmltod by Guarant80) Annual Report and Flnanclal Statements For the Period from 1 March 2024 to 31 March 2025 Company Number: 07743521 Charlty R•gl8t¢red In England and Wal0• Numb•r: 1143731
On Your Blke (Recycle) Ltd Contents For the Period from 1 March 2024 to 31 March 2025 Pa Contents Reference and Administrative D8taits Trustees. Annual Report Independent Examiner's Report 10 Statement of Financial Activities 11 Balance Sheet 12 Noles to the Financial Statements 13-21 Prepared By Albert Goodman LLP
On Your Bike (Recycle) Ltd Reference and Administrative Details For the Period from 1 March 2024 to 31 March 2025 Trustees and Directors R K Habgood (Chair) H Gregory M Howell O Moore B Nicholls D Nobrega Rodrigues H Rybaruk A Whitlock General Manager (People and Process08) T Mock General Manager (Technlcal D Cutler Company Number 07743521 Charlty Number 1143731 Prlnclpal Offlce and Reg18tered Offlc• Th8 Coach House Station Approach Taunton Somerset TA1 1QW Independent Examlner Mlchelle Ferrls Bsc (Hons) FCA DChA Albert Goodman LLP Goodwood House Blackbrook Park Avenue Taunton Somerset TA12PX Prepared By Albert Goodman LLP
On Your 81ke (Recycle) Ltd Trustees, Report For the Period from 1 March 2024 to 31 March 2025 The trustees. who are also dlrectors for the purposes of the Companies Act, present their report and the unaudited financial statements of the charity for the period from 1 March 2024 to 31 March 2025 . The fi'nancial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's memorandum and articles of associalion, the Slatem8nl of Recommended Praclice {SORP FRS 102 2019). and are in accordance with the special provision relating to small companies within Part 15 of the Companies Act 2006. Publlc benefit The Trustees report that the charitable activities, described in the -mission statement" Aclivilies. and "Achievements and performance" paragraphs, are for the public benefit. The Trustees also confirm that they have complied with section 17(5) of Ihe Charilies Act 2011 to have due regard to the public benefit guidance published by the Charity Commission. Structure, gov•rnanco and managom•nt On Your Bike {Recycle) Ltd is an independent charily, registered number 1143731 and a company limited by guarantee, registered number 07743521, Registered office,. The Coach House, Station Approach, Taunton. Somerset, TA1 1 QW. The governing document is Ihe memorandum and articles of associats'on dated 4 July 2011. The following Truslees who are also directors for the purposes of company law, served during th8 year and since the year end: Roger Habgood Mark Howell Hugh Gregory Barry Nicholls Oliver Moore Diogo Rodrigues Heather Rybaruk Mike Southway Amanda Whitlock (Chairl (Secretary) (Treasurer) (Appointed 20" June 2025> {Vice chair. appointed June 2024, resigned 6111 October 2025) {Mental health and wellbelng lead, appointed June 24) The trustees have been successful in recruiting further diversity and specific skill mix to th8 board ov&r the last year with the addition of trustees coming from backgrounds in sales, mental health and wellbeing and human resources and recruitment. Trustees have been sought through contacts developed through exisling n6tworks of the organisalion. The Truslees continue to be mindful to develop diversity, on board specific experience and skills and ensure succession planning. None of the trust88s has any beneficlal interest in the company. All of Ihe trustees are members of the company and guarant8e lo contribute £10 in the event of liquidation of the company. Board meetings are held every 3 months with monthly meetings between subgroups and staff. Responsibilily for Ihe managemenl and operation of the company during the period was entrusted to Tracey Mock (General Manager with primary responsibility for people and processes) and Dereck Cutler (General Manager - Lead mechanic for training, workshop, shop and outreach projects) alongside Duncan Bawler (Workshop Supervisor and lead for Bridgwaler base). Prepared By Albert Goodman LLP
On Your Bike (Recycle) Ltd Trustees, R8POrt For the Period from 1 March 2024 to 31 March 2025 On Your Bike- Vision and Mission statement Vision We are "not just a bike shop we believe bikes can help everyone in our local community to gain new skills, grow in confidence and connect with olhers. Objectlves To give purpose. train and support those who have suffered soclal excluslon, those suffering with physical disabilities and mental health issues, ex-seNice personnel, refugees. ex-offenders, homeless and long term unemployed. To improve employabilily through building self-confidence, training and team working. We aim to provide a safe and supportive environment that encourages individuals into positive activity and back into employment. We actively seek to work with other charities and providers, so that our b8neficiaries can take full advantage to look for and securg employment opportunities on completion of their time with us Promote greener affordable tr8nsport options that have a positlve impact upon the environment and the lifestyle choices of the wider community. Alms To re-use, recycle and rehome bikes. We play an active part in reducing C02 emissions by ensuring that many bikes aro sav8d from landfill, To reuselrecycle as many bike parts as possible. To offer training and apprenticeships lo those in our Community. To promote health benefits, active transport and safe cycllng wlthln our communities and schools. To work alongside local Charities and businesses thal have environmental or ecological values al their core. To promote social inleraction within our communities. Actlvltles for Publlc Beneflt On Your Bike (Recycle) Ltd is a charity that provides a wide range of services to the public and wider community, whilst, at the same tim8, h81ping to Improve the environment in whlch we Ilve. We also provide bicyclè maintenance, customer service and retail training to those who progress throu9h our in-housé training scheme. °Eam a Bike" 12-hour in house Iraining course. Doctor Bike Repair Session - Corporate and Communlty (Funded) Outreach Sessions- Smoothie bikes and PR at CommunltylFundraising Events. Schools, Training Sessions - Basic bike maintenance sessions that complement Bike Abilily. Bicycle collections from all over Somerset - Bikes will be refurbished or recycled or used on our training courses. Bike Maintenance Sessions- 2-hour sessions (Funded) Refurbished Bikes, New Bikes and Parts and Accessories. Servicing and Repairs Our work is supported through our trading income. corporate events, grant funding and donations from the public and businesses. Prepared By Albert Goodman LLP
On Your Blke (Recycle) Ltd Trustees, Report For the Period from 1 March 2024 to 31 March 2025 Our major donations for the financial year came from the National Lottery, Somerset Community Foundation Hinkley Point CIEDF Communty Fund, Somersel Freemasons and Big Bike Revival. The Trust8es are exGeedingly grateful for these donations. all of which are put to effective use. Soclal Impact On Your Bike (Recycle} Ltd delivers measurable. lasting impact across Somerset by supporting some of the community's most vulnerable people and advancing local environmental goals. Through hands-on training, supported employment, and outreach initiatives, On Your Bike directly addresses key challenges in the area. most notably youth unemployment and sccial exclusion, On Your Bike plays a pivotal role in addressing the high number of young people in Somerset who are Not in Education, Employment, or Training (NEET). Recent figures show Ihat nearly 7% of 16-18-year-olds locally, and even higher rates among car8 leavers and young people with special needs. are NEET. exceeding national averages. Our tailored "Earn a Bike" programs and close partnerships wilh schools, Pupil Referral Units, Somerset Works, anrj other communlty agencies create meaningful progression routes for these young people. Participants gain practical skills, confidence, and real work experience, helping them move into further education, employment, or training. Our projecls are designed to support not just young people but adults facing barriers, thos8 Wlth mental health difficulti8s, ex-off8nders, refug88s, and the long-lerm unemployed. In 2024-25. we refurbished and rehomed 571 bikes and serviced 2,194 cycles, with every activity offering training and progression opportunities to our beneficiaries. Volunteers, including those moving on from programs, contributed 2,903 hours across generations. reflecting a strong culture of community involvement and peer support. Through school-based cycle educatlon, "Doctor Bike" sessions, and outreach at local events, w8 promote active lifestyles, improved wellbeing, and pride in achievement. By saving blkes from landfill and reusing parts, our environmental impact is significant, helping reduce C02 emissions and raising awareness of greener, affordable transport. Our growlng presence. onllne and in-person, enables us to better understand and serve communty needs, thanks to innov8tlons such as our YouTube channel and increased community dialogue via social media. Feedback from beneficiaries and collaborative work with partners ensures our services are inclusive, responsive, and meet th8 evolving needs of Somerset's diverse population. with a diverse and skilled board of trustees, sound financial management, and clear succession planning, On Your 8ike is well placed to contlnue addressing Somerset's pressing social and environmental challenges. Proactive fundraising ensures we build on this year's achievements, with plans in place to expand our most Impacrful programs, particularly for NEET young peopl8 and children lacking access to bikes and safe Cycling spaces. On Your Bike (Recycle) Ltd is "not just a bike shop," it is a local anchor for social transformation. environmental action, and community connection. We provide opportunity, purpose. and pathways to brighter future for those who need it most. Never shy to attend an event, On Your Bike pops up all over the place Including. . Armed Forces Oay Norton Steam showlrally School fetes acro55 Taunton and Bridgwater. Environmental fares Bicyde jumble boot sales Active travel days & Multicultural festivals Prepared By Albert Goodman LLP
On Your Bike {Recy¢le) Ltd Trustees, Report For the Period from 1 March 2024 to 31 March 2025 2024125 saw On Your Bike start a You Tube Channel with the assistance of GD Media, a series of videos were created introducing the Charity and what we do, as well as some videos of "whal happens" when a bike is donated elc. We have also put a real focus on our social media platforms, ensuring that we make the most of our effortsltime spent trying io engage with our followers. Our hope is to create a two-way communications system thal enables us lo gather our communities. demand for us which enables us to decid8 how, what and when lo deliver our activities This year sees the final year of our funded project with National Lottery and Somerset Community FoundationlHPC Fund. We have seen interesl grow and this has been our busiest year so far. We are actively applying for funding lo conlinue this ever-popular Course, We are immensely proud of what we have achieved and the people who we have supported. We regularly vrfork with: . SASP . MIND Probation Service Nelsons trust . Open Door . Shaw Trust . Somerset NHS mentsl Health team • Glanville Hous8, Lindl8y House. Glogan Hou88 el¢ • Numerous cycling clubs such as Langport. Somerset Road club, Somerset RC Tri to name a few. . Various PRU'S such as Sky Academy Wellington Town Council have also enabled us to ulilize their community °pop-up" shop, and we will have a presence in the town center for a week in April. Achlevements and perfom)ance Community VolunleerslBeneficiari8S'. Retained,. 13 New.. 3 Moved on: 5 Slarted and moved on (Same year): 4 Total volunteer hours were 2903, which is equNalent to £35,000 of salaried time based on minimum wage. Trustees.. Retained.. 6 Appointed.. 2 new Trustees Resigned: O Bikes and SeNicing'. (over both stores) Refurbished.. 571 S8rvic8d.' 2194 Prepared By Albert Goodman LLP
On Your Bike (Recycle) Ltd Trustees, Report For the Period from 1 March 2024 to 31 March 2025 People On Your Bike has a record of providing a culture of care for staff, volunteers, and course attendees. The team ethos has nurtured a place of acceptance and community embracing and supporting indivtduals from diverse backgrounds which has included asylum seekers and individuals marginalized by substance dlfficulties, mental health or learning difficulties. For many Individuals On Your Bike has been an anchor point and place of wrpose from which identity, confidence and skills are grown. In the last year. On Your Bike has provided work placement experlence for a student from Bridgwater college and we continue to support an apprentice through training with successfLJI completion of Cytech blcycle mechanic qualifi'cation. We delivered our first Mental Health First Aid training this year to some of the leam which marked an important slep in fostering a supportive and resilient workplace and reinforcing a culture of empathy and care within On Your Bike. The training equipped staff with the skills and confidence lo cOgnise and respond to mental health challeng8s and to hav8 SUPPOrtiV8 conv8rsalions around mental wellbeing. The Trustees are deeply committed to the mental wellbeing of the team, and this initiative reflects their proactive approach to creating a healthy and inclusive environment where everyone feels valued and supported. The leam commitment and support to individuals and community outreach continue lo capture and embody that On Your Bike is.not just a bike shop." On Your Bike is re811y very fortunate to have a number of volunteers that contribute to our team: We have office administration support. Collectionslvan driver. Website developers. Videographerlphotographer 8TC Gollege sludenl assisting with our social media Our community volunteers asslst us in the workshop with our beneficlarles who have all completed EAB course and want to learn more about their bicycles and us at On Your Bike, Flnanclal revlew The charity generated income of £339,295 of which £95,314 was restrlct8d (2024 - income of £274,598 of which £73,924 was restricted). With expenditure of £324,979 {2024 - £262,328), this led to a surplus for the y8ar of £14,316 (2024 £12,270). Net assets as at the end of the financial year were £91,867 (2024 £77,551), of which £12,131 is restricted (2024.. £12,207 restricted). Res•rv•s pollcy The Truste8s' policy on res8rves has been developed aft8r considering the inherent level of risk within our business model. It is to maintain sufficient reserves for Ihe charity to continue to meet its ongoing commitments for a minimum of 3 months (estimated £60.000) less the income generaled from our workshop trading activities1£46,0001. This allows us to provide sufficient funds to develop and extend the services provided by the charity. The unrestricted funds of the company amounted lo £79,736 on 31 March 2025. The Irustees review Ihe policy annually and consider the principal risks faced by the charity after tsking into account the likely project8d income and expenditure. Prepared By Ab&rt Goodman LLP
On Your Bike (Recycle) Ltd Trustees. Report For the Period from 1 March 2024 to 31 March 2025 The charity aclivilies are very seasonal, wilh winter being a quiet period and sales picking back up around March time, Iherefore the March reseNes are always a reflection of the quiet period. Future plans "Earn a Bike" we are looking to find funding to continu8 this project. This has been successful for several years, but we are looking to split the project into two. One project being targeted at under 18's who are not in Mainst8M schooling, linked to Pupil referral Units, those who are linked to Counly lines gangs, in care or are disadvantaged. Our experience and research have shown that this is a growing area and resources Ilke ours are rare. Those who have been part of our courses have benefited from a hands-on leaching style with subject Ihal interests them. They have shown great engagement and commitment to the 4 we&ks and have benefited from gaining a mode of transport at the end of the course. The other project will conlinue to help those over 18 as stated above. Our past research has shown the benefit of this course for those who have attended. Both projects will run in t8ndem over the 3 years in both stores. 2. School Cycl• Sesslons In th• local comrnunlty These will target KS1 with curriculum-based activities to include balance capability and co-ordinalion, a precursor to bike ability, togelher wlth playground skills sessions in a fun environmenl. KS2 activities, offering maintenance and safety check sessions which would complemenl Bike Ability that is provided by Somerset Council. Our aim is to providelegacy skills which will grow and develop throughout pupils. journeys into adult life and give as many children as possible the opportunily to learn how lo cycle at a young age. Many chlldren do not have access to a bike or a safe environment to be able to practice these important skills. Within the funding we will provide a fleet of bikes thal we take to each school to use In Ihe sessions as well as having a selection of larger bike for loan to those children who wish to do bike ability but do nol have a bike. Rlsk management The Truslees have considered the major risks to which the charity is exposed. The Trustees actively review and update systems and procedures to manage perceived risks appropriately at every quarterly in-person meeting. Prepared By Albert Goodman LLP
On Your Bike (Recycle) Ltd Trustees, Report For the Period from 1 March 2024 10 31 March 2025 Statsment of Trustees, Responslblllties The Trustees (who are directors of On Your Bike (Recyde) Ltd for th8 purposes of company law) are responsible for preparing the Trustees, Annual Report (incorporating the Directors, Report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 The Financial Reporting Standard applicable in ltte UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees lo prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and the income and expenditure of the charitable company for that period. In preparing these financial statements, the Trustees are required to: Select suitable accounting policies and then apply them consistently. Observe the methods and Principles in Ihe Charities SORP. Make judgments and estimates that are reasonablè and prudent. stste whether applicable UK Accounting Standards have been followed, sublect to any materlal departures disclosed and explained in the financial statements, and Prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charitable company will continue in business. The Trustees are responslble for keeplng adequate accounting records that dlsclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure thal the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charilable company and hence for laking reasonable st8ps for the prevention and detection of fraud and other irregularities and are responsible for the maintenance and Integrlty of the corporate and financial information on the charity's website. Signed by order of the Trustees on R K Habgood Chair of Trustees Prepared By Albert Goodman LLP
On Your Bike (Recycle) Ltd Independent Examiners, Report to the Trustees For the Period from 1 March 2024 to 31 March 2025 Independent 8xamlner's report to the trustees of On Your Blke (Recycle) Ltd I repori to the charity trustees on my examination of the accounts of On Your Bike (Recycle) Ltd ('Ihe Company") for the period from 1 March 2024 to 31 March 2025 . Responsibilities and basls of report As the charity's truslees of the Company (and also ils directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 {"th8 2006 Act"). Having satisfied myself that the accounts of the Company are not r8quir8d to b8 audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ("the 2011 Act"). In carrying out my examination I have followed the Directions givén by th8 Charity Commission under section 145{51(b) of the 2011 Acl. Albert Goodman LLP provides the charily with book-keeping services. I confirm that the necessary safeguards as required by the Directions of the Charity Commission have been implemented, and that I have applied the provisions of the Revised Ethical Standard 2016 issued by the Flnancial R8POrting Standard. Independent examlner's stalement I have completed my examination. I confirm Ihal no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect,. 1. accounting records wer8 not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not comply wlth Ihese records; or 3. Ihe accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts giv8 8 '1rue and fair vi8w' which is not a matter considered as part of an independent examination., or 4. the accounts have not been preparod in accordance with the methods and principles of th8 Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102). I have no concorns and have come across no olher malters In connection with the examinalion to which attention should be drawn in this report in order to enable a proper understanding of the accounts lo be reached. erris Bsc (Honsj FCA DChA Albert Goodman LLP Chartered Accountants Goodwood House Blackbrook Park Avanue Taunton Somerset TA12PX Daled.. 0g/1)/JoJS Prepared By Albert Goodman LLP 10
On Your Bike (Recycle) Ltd Statement of Financial Activities (including Income & Expenditure account) For the Period from 1 March 2024 to 31 March 2025 1 March 2024- 31 March 2025 Total 2024 Unrn8- trlcted R•-strletsd Unres- trlcted strlcted Total Not•$ Incomo Donations {includlng grant51 Donated bike sales 25.582 148.511 95,314 120.896 148.511 6.452 132,071 73,924 80.376 132,071 174.093 95,314 269,407 138.523 73.924 212,447 Charitable activities income.. Sales of bikes and accessories 69,888 69,888 62.151 62,151 Total Income 243,981 95.314 339,295 200,674 73,924 274,598 Expendlturo Charitable activities 243,303 81,676 324,979 203,348 58,980 262,328 Total •xpendlturo 243,303 81,676 324,979 203,348 58,980 262,328 Not Income l (expendlture) for Ihe yoar boforo Iransfor8 678 13,638 14,316 (2,674) 14,944 12,270 Transfers 13,714 (13,714} 30,010 {30,010) Not movement In funds 14,392 (76) 14,316 27,336 115,067) 12,270 Roeonclllatlon of funds Tolal funds brought fotward 65,344 12,207 77,551 38,008 27,273 65,281 Total fund8 carrled forward 79,736 12,131 91,867 65,344 12,207 77,551 The results for the year derive trom contlnulng activitles and there are no galns or losses other than those shown above. The statement of financial activities incorporates the income and expenditure account. Ppared By Albert Goodman LLP 11
On Your Bike {Recycle) Ltd - Company Reglstratlon Number: 07743S21 Balance sheet As at 31 March 2025 Notes 31 March 2025 29 February 2024 Fixed assets Tangible fixed assets Investments 28,756 10.362 28.758 10,364 Currént asset8 Stock Debtors Cash al bank and in hand 28,822 3,228 44,527 26.253 2,399 46,857 76.577 75,509 Credltors Amounts falling due within one year 10 (13,468) 18,322) Net current assets 63.109 67,187 Nol a88018 91,867 77,551 Funds Unrestricted funds Reslrlcled funds 79,736 12,131 65.344 12,207 Total charlty funds 91.867 77,551 These accounls have been prepared and delivered in accordance with the special provisions relating 10 small companies within Part 15 of Ihe Companies Act 2006 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021. For the period ending 31 March 2025, the company was entitled to exemption under section 477 of the Companies Acl 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect lo accounting records he preparation of accounts. Approv oard for is ueon and signed on its behalf by: Trustee Prepared By Albert Goodman LLP 12
On Your Bike (Recycle) Ltd Notes lo the Financial Statements For the Period from 1 March 2024 to 31 March 2025 Accounting policies 1.1 General Infomiatlon and basls of accountlng On Your Bike (Recycle) Ltd is a company limited by guarantee incorporated in the United Kingdom under Ihe Companies Act. Each member of the charity undertakes to contribute a maximum of £10 to the charity's assets if it should be wound up while they are a member or within one year after Ihey cease to be a member. The address of the règistered office is given on page 2. The nature of the charity's operations and its principal activities are set out in the Trustees Report on pages 3-9. The financial statements have been prepared on the historical cost basis and in accordance with the accounting and reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective 1 January 2019)- (Charites SORP (FRS 102)) and the Companies Act 2006. The charity meets the definition of a public benefit enlity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless othemise stated in the relevant accounting policy. 1.2 Golng concern The trustees assess whether the use of going concern is appropriate i.e. whelher Ihere are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The trustees make this assessment in respect of a period of al least one year from the date of authorisation for issue of the financial statements and have concluded that the charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties aboul the charity's ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Incom• Income from donatlon8 Is recognised in the accounts when recelvable and the amount Can be reliably measured. In line with the SORP, income in relation to donaled bike5 is recognised at point of sale rather than the point of donation. Income from grants and government grants is accounted lor when unconditionally due and r8asonable assurance Can be gaSned that St wlll be received. Income from investments is recognised in the accounts when receivable. 1.4 Expendlturo Expenditure is accounted for on the aGGruals basis. Liabllitles are recognised in Ihe accounting period to which they relate. Governance costs compflse all costs involving the public accountability of the charty and its compliance with regulation and good practice. Prepared By Albert Goodman LLP 13
On Your Bike (Recycle) Ltd Notes to the Financial Statements For the Period from 1 March 2024 to 31 March 2025 1.5 Fixed assets Fixed assets are valued at cost less d8pr8cialion. No assets are capitalised under £100. Depreciation is calculated to write off the cost or valuation of fixed assets over their estimated useful lives at the following rate:_ Plant and machinery Motor vehicles 150/0 Straight line 250k straight line 1.6 Invesiment in subsldlarles The investment in the share capital of the charity's subsidiaries is stated at COSt. Any loans to or from the subsidiary are stated at the value outstanding al the year end. 1.7 Debtors Other debtors are re¢ognised at the settlement amount due and prepayments are valued at the amount prepald. 1.8 Cash at bank and In hand Cash al bank and in hand compromis8 cash on hand and call d8POSlts that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. 1.9 Credltors Creditors and provisions are recognised where the charity has a present obligation resulting from past evenl that will probably result in thé transfer of funds to 8 third paty and the amount due lo settle the obligation can be measured or estimated reliably. Creditors are recognised at their seltlemenl amount. 1.10 Taxatlon The company is a registered charity and is therefore not liable to corporation tax to the extent that income and gains are applied for charitsble purposes. 1.11 Fund accounting General funds are unrestricted funds recelvable or generated for the objects of the company without further specified purpose and are availab18 as general funds. Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets this criterion is charged to the fund, together with a fair allocation of management and support costs. 1.12 Stocks Stocks are valued at the cost and net realisable value, after making due allowances for obsolete and slow-moving items, Prepared By Albert Goodman LLP 14
On Your Bike (Recycle) Ltd Notes to the Financial Statements For the Period from 1 March 2024 to 31 March 2025 1.13 Flnanclal Instruments The charity only holds basic financial Instruments as defined in FRS 102. The financlal assels and liabilities of the charity and their measurements are as follows.. Financial assets - trade and other debt are basic financial instruments and are debt inslruments measured al amortised cost. Prepayments are not financial instruments. Cash at bank - is classified as a basic financial instrument and is measured at face value. Financial liabilities trade creditors, accruals and other creditors are financial instrurnents, and are measured at amortised cost. Taxalion and soclal security are not includ8d in the financial instruments disclosure definition, Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation lo deliver services rather than cash or another financial instrument. 2 Donatlons (Includlng grants) Total 1 Mar¢h R•8. 2024 to 31 lrf¢ted Mar¢h 2025 Unro8- trf¢t•d Unres- trlcted trlctsd Total 2024 Grant Income Cycling UK - Big Bike Revival The National Lollery Somerset Freemasons Somersel Community Foundation Van Fund Suez Wellinglon Town Council Maintenance Courses Bridgwaler Town Council 3,262 29,211 3,262 29,211 4,330 29,211 5,000 35,383 4,330 29,211 5,000 35,383 35,384 24,357 500 2,600 35,384 24,357 51x1 2,6LJ) 2,766 2,766 1,647 1,100 1,647 1,100 Donatlons Gift Aid Other 6,144 16.672 6,144 16,672 2,223 1,482 2,223 1,482 25,582 95,314 120,896 6,4S2 73,924 80,376 'D8notes gov8rnment funding Prepared By Albert Goodman LLP 15
On Your Bike (Recycle) Ltd Notes to the Financial Statements For the Period from 1 March 2024 to 31 March 2025 3 Dlrect charltable expendlture Total 1 March Rès- 2024 to 31 tricted Mar¢h 2025 Unres- trScted Unres- Res- Irlcled trlcted Total 2024 Employment costs Other costs 153,093 90,210 45,173 36,503 198,266 124.879 40,832 126,713 78,469 18,148 165,711 96,617 243,303 81.676 324,979 203,348 58,980 262,328 Includéd In other costs: Travel and subsistence Tools, parts and accessories Training and accommLwJats'on Rent and rates Light, heal and power Insurance Repairs and renewals Telephone and fax Bank charges & interest Postage and stalionary Direct expenses IT Soffvtsre and consumables Sundry expenses Charitable donalions Subscription Cleaning Motor expenses Advertising Professional fees VAT non business adjustment Depreciation Governance 255 38,304 615 2,281 2,263 1,780 1,222 2,532 192 4,471 5,353 964 560 25 3,673 1,597 79 3,969 3,556 360 9,358 6,960 255 57,127 61S 13,575 2.263 1,780 1,222 2,532 192 4,471 5,353 964 1,060 25 3,673 1,597 3,433 3,969 5,930 360 9,358 6,960 116 27,252 17,599 116 44,851 18,823 11,294 10,721 2.221 1.375 630 2,228 208 3,498 2.933 549 11,270 2,221 1.375 630 2,228 208 3,498 2,933 640 1,246 122 3,414 1,402 4,518 1,670 4,456 992 2,964 5,863 500 1,246 122 3,414 1,402 4,518 1,670 4,456 992 2.964 5,863 3.512 2,374 90,210 36,503 126,713 78,469 18,148 96,617 Prepared By Albert Goodman LLP 16
On Your Bike (Recycle) Ltd Notes to Ihe Financial Statements For the Period from 1 March 2024 to 31 March 2025 4 Includod within governance c08ts Total 1 March 2024 to 31 tricted March 2025 Unres- trl¢ted Unres. Res- Iricted trictod Total 2024 Independent examlnation fee Accountancy 1,450 5,510 1,450 5,510 940 4,923 940 4,923 6,960 6,960 5,863 5,863 5 Wago5 and salarSes 1 March 2024- 31 March 2025 2024 Wages and salaries Social security costs Pension 185,665 9,452 3,149 155.729 7,338 2,644 198,266 165,711 No individual employee was pald over £60.000 (2024.. non8) The k8y managernenl personnel of the charity Is consid8red to be the general manager. The total costs to the charity of employee benefits for the key management personnel were £39,901 (2024.. £33,598). The average number of employees lor the year was as follows.. 31 March 29 February 2025 2024 Number of staff The charity operates a defined contribution pension scherne. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £3.149 12024- £2,644). There were contributions of £15 payable to the scheme at the end of the year included in creditors {2024: £151. Prepared By Albert Goodman LLP 17
On Your Bike (Recycle) Ltd Notes to the Financial Statements For the Period from 1 March 2024 to 31 March 2025 6 Net Incoming resources before transfers 1 March 2024. 31 March 2025 2024 This is slated after charging.. Depreciation Accountants remuneration - independenl examinalon oth&r 9,358 1,450 5,510 2,964 940 4,923 7 Tanglble assets Plant & machlnery Motor vehlcles Total Cost As al 01.03.2024 Additions Dlsposals 24,160 8,007 27,752 (8,007) 32,167 27,752 (8,0071 As at 31.03.2025 24,160 27,752 51.912 Depreciatlon As at 01.03.2024 Charge for year Eliminated on disposal 13,798 3,344 8.007 6.014 {8,0071 21,805 9,358 (8,0071 As at 31.03.2025 17,142 6,014 23,156 Net book value As at 31.03.2025 7,018 21,738 28,756 As at 29.02.2024 10,362 10,362 Prepared By Albert Goodman LLP 18
On Your Bike (Recycle) Ltd Notes to the Financial Statements For the Period from 1 March 2024 to 31 March 2025 8 Investments 31 March 2025 29 February 2024 Shares in subsidary undertakings On Your Bike Taunton Llmited (company number 11516698) was incorporated on 14 August 2018 as wholly owned subsidiary of On Your Bike (Recycle). The parent charity holds 1000/0 of the issued share capital and 1000/0 of the voting rights of the subsidiary trading company. The company is dormanl as al 31 March 2025. albeit that il has a year end of 28 February 2025. Therefore, has £nil profits {2024- £nil), and share capital is £1 (2024-£11. On Your Bike Bridgwater Limited (company number 11516646) was incorporated on 14 August 2018 as a wholly owned subsidiary of On Your 8ike (Recycle). The parent charity holds 100% of the issued share capital and 100 % of the voting rights of the subsidiary trading company. The company is domanl as al 31 March 2025, albeit that it has a year end of 28 February 2025. Therefore, has £nil profits (2024- £nil), and share capilal is £1 (2024-£1). 9 Debtor8 31 March 2025 29 February 2024 Trade debtors Prepayments and accrued income 940 2,288 1,054 1,345 3,228 2,399 10 Credltors. amounts due In less Ihat one yèar 31 March 2025 29 Fobruary 2024 Trade credltors Accruals VAT PAYE & Nl liability 5,649 2,730 2,382 2,707 2,037 2,730 671 2,884 13,468 8,322 On Your 81ke (Recycle) Ltd Prepared By Albert Goodman LLP 19
Notes to the Financial Statements For the Period from 1 March 2024 to 31 March 2025 11 Statement of Funds Balance 01.03.2024 Expend- Iture Balance 31.03.2025 Incomo Transfers Restricted funds Cycling UK - Big Bike Revival The National Lottery Van Fund Suez Wellington Town Council Somerset Community Foundalion 3,262 29,211 24,357 500 2,600 35,384 (3,2621 (36,418) (3,512) 1500) (2,600) {35,384) 7,207 5,000 (13,7141 12,131 Total restrictad funds 12,207 95,314 {81,676) (13,7141 12,131 Unrestrlcted funds General 65.344 243,981 (243,303) 13.714 79,736 Total Funds 77,551 339,295 (324,9791 91,867 Slatement of Funds - prlor s•ar Balance 01.03.2023 Expend. Iture Balance 29.02.2024 Incoma Tran8fer6 Restrlcted funds Cycling UK - Big Bike Revival Somersel Community Foundalion Somerset Freemasons Ivan Fund) The National Lottery 4,330 35,383 5,000 29,211 {4,3301 135,3831 17,692 {17,692) 5,000 7,207 9,581 (19,2671 112,318) Total restrl¢ted funds 27,273 73,924 {58,980) (30,0101 12,207 Unrestricted funds General 38,008 200,674 (203,348) 30.010 65,344 Total Funds 65,281 274,598 (262,328) 77,551 On Your Bike (Recycle) Ltd Prepared By Albert Goodman LLP 20
Notes to the Financial Statements For the Period from 1 March 2024 to 31 March 2025 Cycling UK- Big Bike Revival is funding received from Cycling UK towards bike sessions supporting free cycle servicing. The National Lottery is deliver our in house "Earn a Bike" training Courses to those in the community who are looking for support, training or to help with r8COV8ry from physical and mental illness over 3 years. This was the last year of this fund. Somerset Community Foundation is d81iv8r our in house °Earn a Bike" training courses to those in the community who are looking for support. training or to help with recovery from physical and mental illness over 3 years. Somerset Freemasons was a donation towards a crowdfunding project lo replace a broken van. The van will be equipped wilh an awning that will become an outdoor classroom to reach rural communities. Crowdfunder was an accumulation of donations to contribute towards the replacement of the van. Fairfield Trust was a donation lowards the replacement of the van. Suez was a donation tendered for Christmas presents lo the volunteers. Wellinglon Town Council is funding received towards bike sessions provided to school pupils, 12 Analysls of net assets between funds Total 29 Unres- Res- February trlcted trlcted 2024 Unras. trlcted Res. Total 31 tricted March 2025 Tangible assets Investments Net current assets 28,756 28,756 10,362 10,362 50,978 12,131 63,109 54,980 12,207 67,187 79,736 12,131 91,867 65,344 12,207 77,551 13 Related party transactlons Durlng the year, trustees donated £10,135, with no special terms imposed12024'. none>. 14 Company Ilmlt•d by guarantee. The company was incofpofated as a company limited by guarantee and has no share capital. The guarantee lo the company is £10 per member on the winding up of the company. At 31 March 2025. the company had eight members and the total amount guaranteed was therefore £80 {2024'. £60). Prepared By Albert Goodman LLP 21