Reglslered number: 07762463
Charity number: 1144915
Cyclopark
(A company limited by guarantee)
Trustees. report and financial statements
For the year ended 31 March 2024

Cyclopark
{A company limited by guarantee)
Contents .
Page
R6ference and admlnlstratlve detalls of the Charity, Its Trust889 and advlsers
Trustees. report
Independent auditors. report on the financial statements
Statement of flnanclal activltles
2-10
15
Balanca 8h•el
16-17
statement of cash flow8
18
Notes to th8 flnanclal statements
19-35

Cyclopark
(A company limited by guarantee)
Reference and administrative details of Ihe Charlty, Its Trustees and advisers
For the year ended 31 March 2024
K Lloyd, Chair
R Taylor
A Wheélwrlght
E Hughes
B Sandell
S Pereverzeva (resigned 25 September 2024)
S Purchas
J Pope (resigned 27 September 2023}
A Amey (reslgned 25 September 2024)
A Coups (appointed 25 September 2024)
Company registered
number
07762463
Charlty reglsiared
numbor
1144915
Reglstored offlce
Cyclopark
Walling Street
Gravesend
Kent
DA117NP
Independent audltors
Kreston Re8V88 LLP
Charler8d Accountants
Montague Pla
Quayside
Chatham Maritime
Chatham
Kent
ME4 4QU
Page 1

Cyclopark
(A company Ilmlted by guarantee)
Trustees, report
For the year ended 31 March 2024
The Trustees present thelr annual report tog8ther with tha audlted flnanclal statements of the Charity for th8 1
Aprll 2023 to 31 March 2024. The Annual reporl setyes the purposes of both a Trustees, report and a directors,
report und8r company law. The Trustees confirm that the Annual report and financial stat8mgnts of th8
charitable company comply with the current statutory requirements, the requlrements of the charitable companls
governing document and Ihe provisions of the Statement of Recommended Practice (SORPI applicable to
charitles preparing their accounts In accordance with the Flnancial Reporting Standard applicable in th8 UK and
Republic of Ireland (FRS102) (effective 1 January 20191,
Sinc8 the Charity qualifies as small under section 382 of the Companies Act 2008, tho Strategic report required
of medium and large companigs under th8 Companies Act 2006 (Strategic Report and Directors, Report)
Regulations 2013 has been omitt8d.
Objectives and actlvities
a. Policies and obJe¢tlves
The Wision for the Charlty Is to provide a community hub that drives positlV8 change In our local communlty. We
want people to be able to access excellent faclllties no matter their ability or background. We hope to insplre
future generations to get moving for pleasure as well as discovering hidden talent.
The Mlsslon for the Charity is to provide outstanding experi8nces that 8UPPOrt all ages and abillties to get
moving on two fget and bNO wheels.
Vlhy - the local context
Located in a Priority 1 arga of health and soGioeconomlc Inequalltles, 420A of Year 6 children are overw8ight and
nearly 1 in 3 adults are physically inactive.
Multiple large-scale studies across Ihe world show that just a moderate amount of movement- 150 minutes a
week, which is 21 minutes a day- lowers your all4ause risk of death at a glven age by approximately 300/0.
Following a change in senior leadership and period of review with key stakeholders towards the end of the
financial year 2023124, tha original four-year strategy has been refined to focus on four key strategic goals from
financial year 2024125. These look to further align the charty with Kent County Council's Framing and Securing
Kent's Future and Gravesham Borough Councils Graveshan7 2040 prospectus, th8 summary of Iheir cory)orate
and local plan.
Th8 focus of these strategic go8ls is to build further on thg Charitys charitabl8 Status and strength of offer and
position the Charlty and venue as a health and wellbeing hub in an area of significant need. By leanlng into the
social prescribing agenda, underplnned by its unique cycllng-based offer, the charity can become a r8cognized
asset to support Public Health building on its current success in cycling tal8nt creation and event staging.
Strat6gic Goal 1.. The Charity to be a key resource for Public Health and the Kent and Medway Int8grated Care
strategy, par￿CUlarlY the shar8d outcomes of - Giving children and young people the best start In life & to
Support happy and healthy living for all.
Slrategic Goal 2: The Charity to b8 the centre of cycllng in the region
enhancing the current discovery of
hidden talent and staging world-class 8vents with a ren8wed focus on insplring more people to get on a bike
through the development of a more robust grassrootslparticipalion offer for children and adults. Thls In turn
supports our Public H6alth objective.
Strategic Goal 3", The Charlty to use cycling and non-cycling events to Inspirg engagement, generate valuable
funds and as a kgy driver of profile ancf economic Impact for Kent and Gravesham.
Stralegic Goal 4: The Charity lo be commercially s&lf-sufficient from Kent County Councll central funding within
five years through efficiency and effectiveness in our offer and operations supported by third paty funding into
our programmes and facilities from grants and partnershlps.
Page 2

Cyclopark
(A company Ilmlted by guarant991
Tru5tees' report Icontlnued)
For the year ended 31 March 2024
ObJectiV85 and a¢tlvities {¢ontlnued)
To achieve our strategic goals, w6 have four 8nabling goals..
Exceptlonal People
Our People are the key to the 8uccess of the Charity. Whilst we have an excellent faclllty, it's the people
who brlng11 to lrfe. We se8k to attract people who can help us deliver our objectiv8s whether that is
working with our member5 on a day to day basis or helping run fantastic evenls. We continue to review
and identifythe skills we need now and in the future as th8 Charity continues to grow and flourlsh. This
includes ensuring we help our staff leam and develop to build tlieir careers and our succ8SS.
In a tlme of a climate emergency, cycllng and active travel have critical roles to play. Our work at the
Charity helps bring mare people, from a wide rang@ backgrounds to discover and expand their relationship
with cycling, We actively seak out organis81ions to work collaboratively to bring more peopl8 lo a place
where they can18arn to b8 confident and happy to ride bikes, whether for transport, for leisure or for sport
(or a combination of all three). As a traffic free space w8 provide a safe and welcoming place for peopl8 to
enjoy riding blkes.
stakeholder Relationships
Extend our relationshlps with stakeholders to include sport gov8rning bodies, local governmgnt. C8ntral
govemment and health provid8rs to suppori mutually beneficial collaboration.
Continue to host national lev81 cycling events an ambition to make Cyclopark a leading venue for
intemational level cycling events,
Continue to seek out new opportunities to work with local businesses and Ihe community to deliver new
events that raise awareness and bring people to the venue.
Charitable Fundraising
Identify and apply for a series of fvnding opportunities to deliver the overall incom8 target. These include
existing charit18s, grant making foundations, goveming bodies, local and central govemment,
Conlinue our commitment to support discounted and fre8 activities. Our team at the Charity work with
partners to Identify relevant charitable projects that align with our vlslon and help support the naeds of our
local community, in furtherance of our own charitable activities,
Host additional fundraising events to further support this part of our work.
Commercial Growih
Identify and approach a range of businesses to forge partnerships to daliver the overall income target.
These include local and national organisations who could offer Value In Kind andlor cash input.
Focus cornmercial activity in the areas of health and fitrtess, family activities, day visitors. events and food
and drink.
Continue to improve the products, servlces and evgnts we offer to our community by listening to feedback.
Build an ongoing focus on Increasing Inclusivity across all of our activities and products with specific focus
on diversity 8nd undgr r6presentad section of soclety (women, ethnlc divarsity, young people and
dlsability).
Our values are at the heart of everything we do. They inform the way we design and deliver our sgrvices and the
way we work and behave.
T8amwork- to work In ways which are open, inclusive, responsive and accountable to d8velop and
maintaln positive working relationships with customers, stakeholders and partnars lo achieve excellent
outcomes.
Tru8t- to ensure all slakeholders are glven open and hon&st information to make declsions, to learn from
our mistakes and promote continuous improvement and best practice.
Treating people falrly- to recognis8 that 8V8ryone ha5 an important part to play in achi8ving the mlssion
for the charity and to valu8 the diverse and vlbrant nature of our members and communlty.
Spending Money Wisely- to set high expectation to achieve strat&gic outcomes, actlvely seek out
opportunities to improve dellvery of s8Nices through partnership and listen lo feedback.
Pag8 3

Cyclopark
(A company limited by guarantee}
Trustees, rèport (continued)
For the year ended 31 March 2024
Objectlves and activltlos (contlnued)
The pollcl8s adopted in furtherance of these objects are to provide an affordable and accesslble facility for all
abilities. Th8 Cyclopark has refreshed its strategy during the year, sethng out a new set of values and KPIS to
monltor progress in m6eting its charitable objectives.
The Directors have paid due regard to ensure guidance has begn taken in how the charitvs activltles are
focused around public benefit and in line wlth directlves Issued by the Charity Commlssion in deciding what
activitl8S the charlty should undertak8.
b. Maln activities undertakon to further the Charlty's purposes forthe publlc beneflt
Cyclopark is a unique multi-activity venue locat8d in 49 acres of parkland in Grave5end, Kant offering a range of
activities for all ages and abllities from dedicated cyclists and athletes to families looking for a great day out. It is
owned by Kent County Council and was opened in 2012 further lo the relocation of the old A2.
The Cyclopark Charity is an Independent reglstered charity appointed on a multi-year agreement by K8nt
County Council to operate the v8nu8 on its behalf. As a charlty, Sny profit is re-invested Into the park's facilities
and wider charltable actlvltles.
Originally opened as a cycling vgnue, the Charity and activities offered have evolved over the years through the
desire to further engage with and m88t the communitys needs.
Our facilities are open 7 days a week, on average 12 hours a day, 360 days a year and include:
A 2.9km closed road circuit able to be split into multiple areas for consecutive us8 or as a 2.5km loop,
A 330 metre national stsndard BMX track,
6km of Mountain Bike trails for varying abilities,
Over 200 bikes in various fleets including for Learn2Rlde, BMX, Mountain Bike and schoDls coachlng as
W811 as publlG hire and the adaptlV8 bike f188t for Cyclo4AII,
Five dèdicated indoor exercise spaces including w8ights and cardlo room, spln studio, two sludi08 for
classes and tho Garage HIIT area.
A 3,000 square foot playpark with multiplg children's play actlvities,
The groundbreaklng Cycloland Initiative with a mini-road network for chlldren lo understand road safety
whilst leaming lo scoot or use a balance bike,
A 1,400 square metre skatepark with a variety of feature5 for skateboards, BMX8rs, scoot8rs and
rollart)laders,
A Mulli-use Games Area,
An onsite café called ParkEat.
We offer a wide range of have-a-go and taught Ride (cycling), Fitness and Play actlvities and 8vent$ for all
ages and abilities priced in a community-orientated way focused on affordabllity. Where we can, we offer thes8
for fr88 or al a slgnlficant discount for id8ntified groups as part of our charitab18 activities.
Rlde
A progresslve CycloPathway deliv8ring a wide range of coached sessions by the Charity's coaches
starting with beginner bike handling and moving inlo discipline specific coach8d sessions across road,
BMX, rnountain bike and cyclo-cross to the highest standard,
Host to five National Goveming Body clubs based at the venue offering road, BMX, mountaln bike and
cyclo-cross dis¢lplines as w811 as triathlon and dlsability cycling,
A range of coached and supported sessions for Schools including speclal schools for children with
learning difficulties and social, emotional, behavioral and mental health needs; Pupil Referral Units for
permanently excluded pupils and mainstream primary and secondary schools,
The Cyclo4AII adaptlve cycling sessions ar8 furlher discounted from our already community-oriantated
pricing as part of our charitsble activities offering opportunities for mentally and physically disabled people
to engage In hlgh quality. fun activities in partnership wlth Kent Community H6alth NHS Foundation Trust.
Page 4

Cyclopark
{A company limited by guarantee)
Trustees, report (contlnuod)
For the year ended 31 March 2024
Objectlves and activitles (Contlnuedl
Fllness
Notjust a gym, ParkFitness provides a social and communlty hub for th& local residents of Gravesham
and the surrounding areas. Our focu8 15 not lust on provldlng a facility but on supporting all users on their
movementloumey through a wide rang8 of classes,18d sessions and access to programme writing with
our instwctors,
Four m8mbership packages provide tallored offers for key audlences with th8 ability for indivlduals to also
pay-8s.you-go for individual classes at community-oriental@d prices,
Over 70 classes and led sessions a week from low intensity yoga and pilates to hlgh intensity spin and our
own Garage HIIT product as well as inclusive classes for target auclienc8s including Parenl & Baby and
Chair Fit and Chat for older adults,
Wider initiatives intsgratlng wllh ParkRide including CycloFemme. Bmxercise and the Black Dog Cycling
Group,
Charitable aclivities include offer5ng discounted Menopausal Weight Training Clinics and Chair Flt & Chat
classes as well as a free self-referral programm8 throughout th8 year and Black Dog Cy¢ling Group.
Play
Th8 Play portFolio of play park, Cycloland, skatepark and MUGA provides the gateway to engage the
families and younger chlldren of Grav88ham and surroutiding areas to help fO￿n posltlve habits through
fun phyBical activity from an early 8g8.
Access is priced in a communily-orlenlated way focused on affordability with a day pass for a famlly of five
just £4.50 or a membership atjust £7.50 a month,
Alongside th8s8 activities, the charityworks closely with its tenants the Baby & Toddler Cloud to engag8
young families both Ihrough their own classes and by cross promotlon of Park Fitn&ss exercise classes,
ply park access and seasonal ParkPlay events.
Booklngs & Evants
Bookings and events are an incredlbly Important platform for engag8m8nt providing motivatlon for
partlclpants, inspiration for spectstors and being a valuabl8 way to introduce new people to the charity,
These range from a simp18 two-hour room hire to host a thlrd-paty meetlng or activity lo multi-day
National Seri8s cycling events across BMX, Cyclo-cross and road disciplines with a whole range in
bet￿een Ilnked to our Rlde, Fitness and Play portfolio.
stakeholders
Building and maintalnlng our ne￿Ork of stakeholders Is key to on-going operations and unlocking new
opportunities. This starts with those parties directly linked to the eslablishment of the Cyclopark prolecl and. as
we look to our future direction, Ihosa closely aligned lo our four strateglc goals.
These start with Kent County Council, Active Kenl and Medway, Gravesham Borough Council, Dartford &
Gravesham NHS Trust, British Cycling and Coly8r Ferguson. Through close liaison with thasè parties, wa ansur8
our purpose is alignad to th8 local need as well as using these neI￿orkS to forge new conn8Ctions.
Page 5

Cyclopark
(A company Ilmlted by guarantee)
Trustees, report (continued)
For the year ended 31 March 2024
ObJactives and actlvities (continued)
Achievements and performance
a. Overvlew
Since w8 first opgned In 2012, the Charlty has provided an Inspiring and accesslble place for people from all
walks of life to ride their bikes, From young people leaming to ridg through to Olympic gold medallists, our top
class facilities have provided a supportive and safe environment for wcling.
Over the last 10 years, we have expand&d and grown our support for cyclists and introduced a broader range of
activltles for non cyclists. We have also hosted many events from regional cycllng races through to National
Series stages In BMX and Cyclocross; the highlight b6ing hosting a slag& of the 2019 Women's Tour.
The Charltls scope is wide offering something for everyon8, not just cycling, with an av8rage of over 125
coached or supported sessions each week alongsida belng open for 8nyon8 lo drop In to rid8. exercise or play
across the 49 acre slte.
b. Maln Achlevements 2023124
Our Team is known for belng welcoming. supportive and creating an environmènt ttiat Tnany describe as like a
'famill. This approach shines through particularly in all taught sessions, b8 they on the track or in the gym,
resulting in truly inspiring stories, feedback and impacts.
During 2023124, the Charity has had,,
Ovar /4 million vlsits,
6,300+ family vislts to the play park (up to two adults and three children und8r 11 }.
3,000+ led exercis8 classes (from 12 to 25 taking part in each class),
1000+ coached & supportad cycllng sessions from beginner to talent. Thase are a combination of
Cyclopark's own regular discipline speclfSc sessions plus those of the fiv8 clubs based at the Park- Club
Cyclopark (BMX, MTB, Ro8dlCross), 4T {FioadlCrossl. TNT BMX, Limitless disability club and Medway
Trl. KCC also host Adult Learn 2 Ride sessions,
200+ days of cycllng based schools, visits including special schools for childr8n wtth learning difficultles
and social, 8molional, behavioural and mental h881th needs, PRUS for permanently excluded pupils and
mainstream primary and secondary schools from as far afield as Wandsworth, southwest London
100+ adaptive cycling sessions with Cyclo4AJI (30+ adaptive bikes, c. 50 people taking part in each
session),
700* Mother and Babyl Toddler programme classes (10 to 15 taknng part in each class},
1,000 members across tha Ride (cycling), Fitness and Play activiti8s,
125+ bookings & events includlng three National Serles cycllng events equating to c. 1 Ok vlsitors lo Kent
over these weekends with overnight stays and spend deliverlng over £400,000 economlc impact to th8
local economy from the Natlonal Series BMX alone.
Beyond th8se quantitatlve statistics, W8 also recelve numerous positive pieces of fe8dback from across our
range of activities such as..
Cyclo4AII: "H has a leaming disability, has been partially sighted since birth and has rgsti7Gted mcvement due to
having a sfroke 21 years ago. Once a week she attends th8 Cyclo4AII sessions. Tho arranggm&nts mstde for H
have been a revelation. I had a quiet cry watching her going around the track on our first visit and seeing the joy
antl freedom this was giving h8r. I still get emotional ev6n now just watching fhe pleasure on her face. Her self-
esteem has improvgcl no end and her mobillty too."
M8nopausal Welghl Training: "I had been battling brgast cancer for a year. Then, when all my tr8atment finished,
I was diagnosed with Osteop8nia. I signed up for the menopausal weight Iraining Gourse, which help8d me to
learn about weights and how to US8 them property and build my confidence. The peoplg on t17e course w8rg
ama21ng too. Once I f8lt more comfortab19, 1 started doing other classgs like HIIT. This has help8d me by giving
Pag8 6

Cyclopark
(A company Ilmlted by guarantee)
Tru$tees' report (continued)
For the year ended 31 March 2024
Achlevements and performance {contlnued>
me confidencg to work with the weights on my own at the gym, I fe81 stronger and my last scan showed my bone
density hadnt got worse which is amazlng. l also love the fact that if you need any help, the instructors ar9 thorg
to guide you which rs brilliant..
Learn2Rlde.' "l Just wanted to say how brilliant the coach was on Salurday for my son's l..118sson. He got hlm
rldlng a pedal bik8 In 5 minutes. something we'vg been trying for months lo doJ'
Parent & Baby classe5: 'The Parent & Baby classes have been amazlng in supporting my postnatal recovery
after both of my p￿gnanCIeS. The instructors are understanding and helpful, and nothing is too much to ask. The
classes offer differ9nt options dependent 017 your ability and Stagg of recovery, whiGh I found particularly usefvl
8ftgr having Iwo c sections. I honestly dont think I would have recovered as well as I have done,. physloally and
mentally, if it wasn t for these Glasses. A safe and inclusive membership forparents, would hlghly recommend to
anyone."
Underpinning the public facing dellvery of activlties Is a contlnual revlew of operations to ensure that processes
and procedures are being carrled out as efficlently and effectlvely as posslble. This includ8d r8Vl8w of historic
supplier contracts r8sulling in fiv8 figur8 savings.
Allgned wlth our enabllng goal of Exceptional People, our organisational structure has been revlewed and
recruitment made to replace vacated and fill new roles. Establishing strong rglationships bel￿een a new senior
management team and our key stak8hold&rs has b8en a focus for Q3 and Q4 and will be used as a springboard
to support our income target through both charltable fundralsing and commercial growth in 2024125.
Financial roview
. Going concern
After making appropriate enquiries, the trustees have a reasonable expectatlon that the charitable company has
adequate resources to continue In operatlonal existence for the foreseeable future. For this r@ason, th8y
continue to adopt the going concern basis in pr8paring the financial stst8ments. Furiher details regarding the
adoption of th8 going concem basis can be found in the accounting policies.
b. Reserves pollcy
The Board has assessed thal reserves should be malntained at £150,000. When considering the level of
reserves to be maintained by the Charity, the Board of Trustees has taken into account.
thè forecasts of future income, the reliability and sustainability of each source of Income and prospects for
forecasts of future expendilura, t)as8d on planned activity.
the Strateglc plan based on building the Charity's charitabla status through partnership income. This
shows a reduction in Net Current Assets to £133,000 in December 2024. being restored to above the
£150,000 reserve as the partnership income is recognised in the 4th quarier of the financial year
the sum required to cover four months overheads which is considered to b@ the length of tirne required to
facilitate an orderly closure of the Charity if it were necessary
any reseNe required to cover the loss of key staff or other unplanned adverse event
any use of the reseNe for investment cr requirement to provide worklng capitsl in the ev8nt that
expenditure is need8d ahead of income being received will be subject to a plan to restore the ￿se￿6 to
Ihis leval in 8 short period
Reserves at 31 March 2024 are £165,805
Page 7

Cyclopark
(A company Ilmlted by guarants8)
Trustees. report (continued)
For the year ended 31 March 2024
c. Prlnclpal fundlng
Our principal funders ara Kent County Council from whom we receive our core funding.
d. Flnanclal revlew
The results for the year ar8 set out on page x The charity recorded a net surplus of £48,490 (2023.. net surplus of
£6.954}. As a result of this, total funds amounted to £396,887 {2023,' £348,397). No ￿ndS are restrlcted.
Structurep governance and management
Constitution
The company is registered as a charitable company limited by guarantee and w88 set up by a Memorandum of
Association on 5 S8Ptember 2011. The company is constitut8d under a Memorsndum of Association dated 5
September 2D11 and is 8 r8gist8r8d Gharity number 1144915.
b. Methods of appolntment or elecllon of Trustees
The management of the company is the responsibility of the Truslees who are elect8d and co-opted under the
terms of the Articles of Association. Directors may be appointed by existing Directors or by members by ordinary
resolution.
c. Policies adopted for the inductlon and training of Trustees
Existing Directors of the charity ensure that new Directors become familiar with their rasponslbilities and duties.
d. Pay pollcy for key management personnel
The Board of Truslges alm to pay senior staff a fair salary that is competitive within Ihe charity sector and
proportionate to th8 compl8Xlty of each role. The Trustees are responsible, In line with our charitable objectives
based on the following princip16s set out below,.
Meet all national pay standards and provid8 all paid staff with a living wage.
Pay our staff an appropriate salary to attract and retain people with Ihe leadership, experience, knowledge and
skills required.
0. Related party relationships
The Charity cooparales and lialses with a number of other advisory seNices. local chariti8s and statutory
services. Where one of thg Trustees holds the position of Truste& or Dir&ctor withln another charity, they may
also b8 involved In discussion8 regarding that other chatlty but not In the ultimate decision maklng process.
Page 8

Cyclopark
(A company Ilmlied by guarantee)
Trustee$, report {continued)
For the year end&d 31 March 2024
Structure, goveman¢e and management (contlnued)
f. Rlsk management
Th8 Trustees have assessed the major risks to whlch the charllable company is exposed, In partlcular those
related lo the operations and finances and are satisfied that systems and procedur8s are in place to mitigat8 Qur
exposur8 to th6 major risks. Tho Truste8s r8¢0gnis8 that any major risks to which the charity is exposed n88d to
be r8VI8W8d and systems put in plac8 to mitigate those risks. To that end Ihe charitable company is contlnually
monitoring and managlng Its rlsk, revlewlng risk and ensuring action plans are In place to mitigate its key risk
areas.
Th& principal risks and uncertainties identified by the charity are as follows:
Rlsk Identlfied
Health & Safety {H&SI: dsk of serlous Injury
or death of wsitor to the park,
Actlons taken to miti
ate risk
Staff tralnin8. safe system5 of work. Monltorlng
of near misses.
All staff hold first aid
qualifications, and first aid training Is carrled
out on a routine ba515.
The safeguarding policy has been updated and
routinely
revlewed to
ensure industry
com
liance,
Appolntment of in.house accountant, additional
financial experfence added to the Board,
monthly accounts sent to Audit & Rlsk Sub.
committee. External Auditor retalned.
Active marketing and promotion procedures.
Wort< wlth local community groups to maximise
utilisatlon. Monltoring of footfall increase and
income for each area. Use of thls information
for
lannTn
meetin
Ensure proactivlty in research to ensure events
are on trend and meetlng the needs of the
sitors. KPI'S set for events and monitoring and
feedback included.
To be active in canvassing for support and offer
sultable value communit
activities.
Cyclopark General Data Protection Regulation
IGDPRI policy put Tn place to ensure compliance
to UK GDPR re
ulation.
Busine55 plans for Investment opportunities
outside of operatTonal éxpenditure and
maintenance and prepared and presented to
the Board for a
roval.
Regular meeting5 held to ensure the
communicatlon of the importance of a safety
based culture.
Appolntment of new Chlef Executlve Offlcer to
ensure
the
fundlng
and
stakeholder
engagement to deliver strategic objectives.
Safeguardlng wellbeing of vlsltors to the
park,
Financlal: rlsk of poor financlal plannln¥ and
projection, and lack of robust reporting and
credit control
Entrles to Cyclopark do not Increase.
No growth In events
Reductlon In external fundlng
Breach of customer data 15torage / security
Inability to grow / develop due to lack of
financial resources
Safety of staff and equipment against
criminal intent
Loss of key employees
Page 9

Cyclopark
(A company Ilmlted by guarantoe)
Trustees, report (contlnued)
For the year ended 31 Mar¢h 2024
statement of Trustees, responsibilities
The Trusleas (who are also the directors of the Charity for the purposes of company18w} are responsible for
preparing thè Trustees, report and the financial staternents in ac￿rdance with applicable law and Unlted
K]ngdom AccountSng Standards {Unlted Klngdom Gen8rally Accepted Accounting Practice).
Comp8ny law require5 the Trust88S to prepare flnancial statements for gach flnanclal Under company law. the
Trustees must not approve the financlal statements unl8SS they are satisfied that they give a true and fair view of
the state of affalrs of th8 Charity and of its incoming resources and application of resources. including its income
and expenditure, for that period. In preparing these financlal stalements, the Trustees are required lo:
$81eot suitable accounting policies and then apply them consistently.,
observe the methods and prFnciples of the Charities SORP (FRS 102).,
make judgm6nts and accounting 88limates that are reasonable and prudent;
state whether applicable UK Accounting Slandards {FRS 102) have been followed. subject to any material
depariures disclosed and explained in the financial statements.,
prepare the financial statements on the going concem basls unless It Is inappropriate to presum8 that th&
Charity will continue In business.
Th8 Trustegs are responsible for keeping adequate a¢counling records that are sufflclent to show 8nd explain
the Charltvs transactlons and disclose wilh reasonabl8 accuracy at any time the financlal positlon of the Charlty
and enable them to ensure that the flnanclal 5tatem8nts comply with the Companies Acfi 2006. Th8y are also
responsible for safeguarding th8 assets of the Charity and hence for taking reasonable steps for the pr8V@ntion
and detection of fraud and other irregularities.
Disclosure of infomiation to audllors
Each of the persons who are Trustees at the lime when this Truste8s' report is approved has confirmad that,.
so far as that Trustee Is aware, there is no relevant audit information of which Ihe charily's audltors are
unaware, and
that Trustee has taken all the sleps that ought to have been taken as a Tru5l8e in order to be aware of
any relevant audit information and to establish that the charitys auditors are aware of that informatlon.
Audltors
The auditors, Kre51on Reeves LLP, have indicated their willingness to continue in office. The designated
Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.
Approved by order of tha members of the board of Trustees on 251cfj120Z4 and signed on their b8half by.
K Lloyd
Chair of Trustees
Page 10

Cyclopark
(A company Ilmited by guarantee)
Independent auditors. report to the Members of Cyclopark
Opinion
We have audited the financial stat6ments of Cyclopark (the 'chartt8ble company'} for the year ended 31 March
2024 which comprise the Statement of financial activities, the Balan¢k sheet, the Statement of cash flows and
the related noles, includlng a summary of significant accounting policies. The finanoial reporting framework that
has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of
Ireland, (United Kingdom GenerallyAccepted Accounting Practicg).
In our opinion the financial stat8ments-
give a true and fair vlew of the stat6 of th6 charitable companls affalrs as at 31 March 2024 and of Its
Incoming resources and appllcation of resources, including its incom6 and expenditure for the year then
ended.,
have been properly prepared in accordanc8 With United Kingdom Gen8rally Accepted Accounting
Practice; and
have been prepared in accordanc8 Wlth the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordanc8 With Intemational Stsnd8rds on Audltlng (UK) (ISAS (UK)) and applicable
18w. Our responsibilltles under those standards are further ée5crlbed In the Auditors, r8sponsibilities for the audit
of the financial statements sectlon of our r8POrt. W8 ar8 ind8pend8nt of the charitable company in accordance
with thg ethical requir8mer)ts that are relevant to our audit of the financial statements in the United Kingdom,
including the Financial Reporting Ccuncil's Ethical Standard, and we have fuifill8d our other ethical
responslbililies in accordance with these requirements. We believe that th8 audil evidence w8 have oblained is
sufficient and appropriate lo provide a basis for our opinion.
Conclusions relatlng to golng ¢on¢ern
In auditing the financial st8t8m8nts, we have concluded that the Truslees, use of thè golng concarn basis of
accounting in the preparatSon of the financial statoments is approprlate.
Based on the work we have performed, we have not identified any materlal uncertainties rolatlng to events or
conditions that, individually or collectively, may cast slgnlficant doubt on the charitable company's ability to
continue as a going concem for a period of at least ￿e1ve months from when the financial ststemenls are
authorised for issue.
Our responsibilities and the responsibilities of tho Trustees wilh respect to going concern are described In the
relevant sections of this report.
Page 11

Cyclopark
(A Company limited by guarantee)
Independent auditors, report to the Members of Cyclopark (conlinued)
Other infomiation
The other information comprises lh8 infomation includ8d in the Annual rgporl other than the flnanclal 8latem@nts
and our Auditors, report thereon. The Trustees are responsible for th8 Other Information contained within the
Annual report. Our opinion on the financlal statements does not cover the other information ané. except lo Ihe
extent otherwise explicilly stated in our report. W8 do not express any form of assurance conclusion Ihereon. Our
responsibility is to read the other infoNnation and, in doing so. consider whether the other informatlon is
materially Inconsistent with the financial ststements or our knowledge obtained in Ihg course of thg audlt, or
othaNise appears to be materially missiat6d. If we identify such materlal inconslstencies or appar8nt material
misstatem8nts, we are required to determine whether this gives ris8 to a materlal misslatement in the financial
statements th8ms8lve8. If, based on the work we have performed, wé conclud8 that there Is a material
mlsstatement of Ihls other information. we are r8quir8d to report that fact,
We have nothing lo report In this regard.
Matters on whlch we are requlred to report by exception
We have nothlng to report in respect of the following matters where the Charities (Accounts and R8POrts)
Regulations 2008 requires us to report to you if, in our opinion..
the Information glven in the Trust88s' r8POrt is inconsistent In any materlal respect with th8 financial
statements., or
sufficient accounting records have not been kept- or
the financlal statem8nts are not in agre8ment wlth the accounting records and r6turns- or
we have not received all tho information and explanations w6 require for our audit.
Responslbllltles of trustees
As explained mor8 fully in the Trustees. responsibilities statement, the Trust8es (who are also the directors of the
charitable company for the purposes of company law) are responsible for the preparation of Ihe financial
Statements and for being satlsfied that they giv8 a true and fair vi8w. and for such internal control as the
Trustees determine is necessary lo enable the preparation of financial staternents that are free from material
misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability
lo continue as a going concern, disclosing, as applicable, matters related to going concern and using the going
concern basis of accounting unless the Trustees eithèr intend to liquidate the charitable company or to ceasg
operations, or have no raalistic alternative but lo do so.
Page 12

Cyclopark
(A company limlted by guaranteo)
Independent auditors, report to tho Members of Cyclopark (contlnuod)
Auditors, responslbllltles for the audll of the financial statements
We have been appointed as auditor under sectlon 144 of Ihe Charitie5 Act 2011 and report in accordance with
the Act and relevant regulations made or havlng effect thereunder.
Our objectives ara to obtain reasonable assur8nce about whether the financial statements as a whole ara fr8e
from material misstatement, whether due to fraud or error, and to issue an Auditors, report that includes our
opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee Ihal an audit conducted in
accordance with ISAS (UK} will always detect a material misstatement when it exists. Misstatements can arise
from fraud or 8rror and are considered material if, individually or in the aggregate, they could reasonably be
expect8d to influence the economlc dgcisions of us8rs taken on the basls of th8S8 financial statements.
Irregularities, including fraud, are Instances of non-complianca with laws and regulatlons, W9 d8sign procedures
In lin8 Wlth our responslbilltles, oullined above. lo detect material mlsstatem8nls in r8SP8Ct of Irregularities,
including fraud. The ext8nt to which our procedures are capable of detecting irregularities, including fraud is
detalled below:
Capability of the audit in deleGting irregulanties, including fraud
Based on our understanding of the Charity and the sector as a whole, and through discussion with the
Trustees and other management (as required by auditing standards), we identthed that Ihe principal risks of
non-compllance with laws and regulations relaled to safeguarding, health and safety, anll-bribery and
employment law. We considered the extent to which non-compliance might have a material effect on the
flnancial statements. We also considered those laws and regulations that have a dlrect impact on the
preparation of the financial statements such as the Charities SORP (FRS 102) S8cond Edition (released
October 2019), tha Companies Act 2006 and other relevant charity legislalion. We communicated identifi8d
laws and regulations throughout our t8am and remained alert lo any indications of non-compliance
throughout th& audit. W8 8valuated Tru5tees' and management's incentive5 and opportunltles for fraudulent
manipulation of the financial slatemanls (including the risk of overrid& of controls) and detemined that the
principal risks related posting inappropriate journal entries to increase revenue or reduce expenditure,
management bias In accounting estimates and ludgemental areas of the financial. Audit procedures
parfomied by the engagement leam included..
Discussions with management and assessment of thown or suspected instances of non-compliance with
laws and regulations (including hèalth and safely) and fraud.
Assessment of identlfied fraud risk factors., and
Review of e2sh and credil card expenditure to confirm no 8vidence of personal benerrt., and
Challenging assumptions and Judgements made by management In Its significant accounting estlmates;
and
Performing analyiical procedur8S to identlfy any unusual or unexpected relationships, includlng relat8d
party transactions, that may indicate risks of matgrial misstalement due to fraud,. and
Confirmation of r8l£led partias with management, and review of transactions throughout the period to
idantify any previously undisclosed transactions with related parties outside tha normal course of
business. and
Reading mlnutes of meetlngs of those charg@d with governan￿, reviewing Intemal audit reports and
reviewing corr8spond8nce with relevant tax and regulatory authorities- and
Review of significant and unusual transaclions and evaluation of the underlying financial rationale
supporting the transactions-, and
Identifying and testing journal entries, in partlcular any manual entries made at the year end for financlal
stalem8nt pr8paration. This was carried out with the aid of our data analytics softwara Mindbridge.
Pag8 13

Cyclopark
(A company Ilmlted by guarantee)
Independent auditors, report to the Members of Cyclopark (contlnued)
As part of an audit in accordance with ISAS (UK), we exerclse professional judgment and maintain prof8ssional
scepticism throughout the audit. W8 also..
Identify and assess the risks of nialerial misstatement of the financlal statemenls, whether due to fraud or
error, design and perform audit procedures responsiv8 to those risks, and obtain audit evidence that Is
5uffiGient and appropriale to provide a basis for our oplnlon, The risk of not detectlng a material
misst8t&ment resulting from fraud is higher than for one resulting from error, a8 fraud may involve
colluslon, forgery, intentlonal omissions, misrepresentalions, or the overrlde of Intemal control.
Obtain an understanding of internal control relevant to the audit in order to d88ign audit procedurgs that
are appropriate In the circumstances, bul not for the purpos8 of 8xpressing an opinlon of the effectiveness
of the charitable company's internal control.
Evaluate th8 approprlateness of accounting policies used and the r8asonableness of accountlng
estimates and related disclosur8s made by th8 Trustees.
Conclud8 on the appropriateness of the Trustees, use of the going concern basis of accounting and,
based on the audit evidence obtained, whether a mat8rial uncertainty exists related to events or conditions
that may cast significant doubt on the charltable companys ablllty to continue as a going concern. If we
conclude that a material Un￿rtaInty exists, W8 are requirsd to draw attention in our Auditors, report to the
related disclosures in th8 financial statements or, if such disclosures are inadequate, to modify our
opinion. Our conclusions are based on the audit evidence oblained up to the dat@ of our Auditors, report.
However, future events or conditions may caus8 tha char1table company to cease tc ￿ntInue as a going
conc8rn.
Evaluate the overall presentation, structure and content of the financial statements, including the
dlsclosures. and whether Ihe financial statements ropresent the underlylng transactions and 8vent8 in a
mann6r that achieves fair presentation.
We communlcate with those charged wilh g0V8rnan￿ regarding, among other matters, the planned scope and
timing of th& audlt and significant audit findings, including any significant deficiencles In Internal control that we
Id8ntify during our audit.
Use of our report
Thls report Is made solely to Ihe charitable companvs trustees, as a body, In acGordance with Part 4 of the
Charilies (Accounts and Reports) Regu181ions 2008. Our audit work has been undertaken so that we might state
to the charitabla companys trustees those matters we are required to state to them in an Audilors, report and for
no other purpose. To the fullest axtent permitted by law, we do not accept or assume responsibility to anyono
other than the charftable company and its m8mbers, as a body, for our audit work, for this report, or for th8
opinions we have form8d,
Samantha Rouse FCCA DChA (Senlor statutory audltor)
Chartered Accountants
statutory Auditor
Chatham Marlllme
Date.. 25 September 2024
Kreston Reeves LLP are eligibl8 to act as auditors in terms of section 1212 of the Companies Act 2006.
Page 14

Cyclopark
{A company limited by guarantee)
Statement of flnanclal activities (Incorporating income and oxpandlture accounl)
For the year ended 31 March 2024
Restricted Unrestricted
funds
funds
2024
2024
Total
funds
2024
Total
funds
2023
Not8
In¢oma from:
Donations and legacies
Charitab16 activities
Other trading activitie8
Inveslments
62,500
43,301
841,488
203,176
24,662
105,801
841,488
203,176
24,662
80,683
804,853
201,338
22,729
Total income
62,500
1,112,627
1,175.127
1.109,603
Expenditure on:
Raising funds
Charitable activities
139,210
987,427
139,210
987,427
154,637
948,012
Total expenditure
1,126,637
1,126,637
1,102.649
Net incomel(expenditure)
Transfers between funds
62,500
(72,500)
{14,010
72,500
48,490
6.954
19
Net movement in funds
(10,000)
58,490
48,490
6,954
Reconclllatlon of funds:
Total funds brought forward
Net movement in funds
10,000
110,000)
338,397
58.490
348,397
48,490
341.443
6,954
Total funds carrled forward
396,887
396,887
348,397
The Statement of financial activities includes all gains and losses rgcognis8d in the year,
The notes on pages 19 tD 35 form part of these financlal statements.
Page 15

Cyclopark
(A company Ilmited by guarantee)
Registered number: 07762463
Balance sh88t
As at 31 March 2024
2024
2023
Note
Fixed assets
Tangible assets
14
231,082
225,243
231,082
225,243
Current assels
stocks
D8btors
Cash al bank and In hand
15
16
3,926
65,844
316,316
3,697
31,716
303,240
386,086
338,653
Credttors., amounts falling due wilhin one
y8ar
(207,086)
(192,134)
Net current assat8
179,000
146,519
Total assets18ss current liabllitles
410,082
371,762
Cr8ditors'. amounts falling due after more
than one year
18
(13,195)
(23,365)
Net assats excluding pon8lon asset
396,887
348,397
Total net assets
396,887
348,397
Charity funds
Restricted funds
Unrestricted funds
19
19
10,000
338,397
396,887
Total funds
396,887
348,397
The entity was entidad lo exemption from audit under section 477 of the Companies Act 200$,
The members have not requlred the entity lo oblgin an audit for the year in question In accordance with section
476 of the Companies Act 2006.
However, an audit 18 required in aGcordance with ssction 144 of the Charities Act 2011.
The Truste8s acknowledg6 their responslbilities for complying with th& raquirem6nts of the Act with respect to
accounting records and preparalion of flnancial statements.
The financial 8tatements have been prepared in accordance with the provisions appllcable to entities subject to
the small companies regime.
The financial statements were approved and authorised for issu8 by the Trustees and signed on their behalf by,.
Page 16

Cyclopark
(A Gompany Ilmited by guarantee)
Registar&d number: 07762463
Balance Sheet (conllnuod)
As at 31 March 2024
K Lloyd
(Chair of Trustees)
Date; 23109 I loZ4
Tha notes on page.s 19 to 35 form part of Ihese flnancial statament5.
Page 17

Cyclopark
(A company Ilmlted by guarantse)
Statement of cash flows
For the year ended 31 March 2024
2024
2023
Cash flows from operating actlvltles
Nat cash generated by operating activities
100,231
95.414
Cash flows from investlng actlvitles
Dlvidends, interests and rents from investments
Proce8ds from the sale of tangible fixed assets
Purchase of tangible fixed asset8
24,662
22,729
3,792
1164,828)
(101.748)
Net cash used In invasting actlvities
(77,086) (138,307)
Cash flows from financlng activili88
Repayments of borrowlng
(10.069)
(9.677)
Net cash used in flnanclng actlvltles
(10,069)
(9,677)
Changa In cash and cash equlvalents In the year
Cash and cash equivalents at the beginning of the year
13,076
303,240
(52,570)
355,810
Cash and cash equlvalents at the end of the y8ar
316,316
303,240
The notes on pages 19 to 35 form part of thes& financial statoments
Page 18

Cyclopark
(A company Ilmi18d by guarantee}
Notes to the flnancial statements
For th8 year endèd 31 March 2024
General Infonnallon
Cyclopark Is a company Ilmlted by guarantee (reglstered number 07762463) which is incorporated and
domiclled In England. It is also registered as a charity wih the Charity Commlssion (r8gistered number
1144915). Th8 adress of the registered office is Watling Slreet, Gravesend, Kenl. DA117NP.
Accountlng pollcias
2.1 Basls of preparatlon of financial statements
The financial statements have been proPa￿d in accordance with the Charities SORP {FRS 1021
Accounting and Reporting by Charit18s= Statement of Recommended Practice applicable to charities
preparing th8ir accounts in accordance with the Financial Reporting Standard applicabl6 in the UK
and Republic of Ireland (FRS 1021 (effective 1 January 2019), the Financial Reportlng Standard
applicable In the UK and R8public of Ir81and IFRS 102) and the Companles Act 2006.
Cyclopark meels the definltion of a publlc benefit entlty under FRS 102. Assets and liabllltles are
initially recognised at hlstorlcal cost or transaction value unl8ss othenivlse ststed in the relevant
accountlng polioy.
2.2 Income
All income is recognised once the Charity has entitlement lo the income, it is probable that the
income will be received and the amount of Income receivable can be measured reliably.
Grants ar8 included in the Statement of financial activltles on a receivable basis. The ba18nce of
incomg r8caiv8d for Specific purposes but not expended durlng the period is shown in the relevant
funds on the Balance sheet. Where Incoma is r8C8IV8d in advance of entitlement of receipt, its
recognitlon is deferred and included in creditors as deferred income, Where enlitlemant occurs
bafore income is rec8ived, the income is accrued.
Other Income is recognised in th8 period in which it is receivable and to Ihe extent the goods have
been provided Dr on complelion of (he service.
2.3 Expendilure
Expenditure is recognised once there is a legal or constructive obligallon to transfer economic benefit
lo a third party, it is probable that a transfer of economic benefits will be reqLAif8d In settlement and
the amount of the obligatlon can be measured r@liably. Expenditure Is classlfied by activity, The costs
of 8ach activity ar8 made up of the tolal of dlrect costs and shared costs, Including support costs
involved in undertaking each activity, Dlrect cosl8 attributable to a single activity are allocated directly
to that activity, Shared costs which contrlbute to more than on8 activity and support costs whlch are
not attributab16 to a slngle activity ar8 apportioned between those activltles on a basis consistent with
th@ use of resources. Central staff cosls are allocated on the basis of tim@ spent. and depr8ciation
charges allocated on Ihe portion of the asset's use.
Expenditur8 on raising funds includes all expenditure incurred by the Charity to raise funds for ils
charilable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on direclly undertaking the activlties which furthor the
Charitys objectives, as well as any associated support costs.
Grants payable are charged In the year when the off8r is made except in those cases where the offer
is ¢ondillonal, such grants being recognised as 8xpenditure when the condltlons attaching ar8
fulfill8d. Grants offer8d subjecl to conditions whlch have not been met at the y8ar end are not8d as a
commitment, but not accrued as expenditure.
Page 19

Cyclopark
(A company Ilmited by guarantee)
Notes to thè financlal statements
For the year ended 31 March 2024
Accounting pollcles (contlnued)
2.3 Expendilure {continu8d)
All expenditura is inclusive cf irrecoverabl& VAT.
2.4 Interast recelvable
Interest on funds hard on deposit is included when re￿Ivable and the amount can be measured
reliably by the Charity. this is normally upon notification of the inler6St paid or payable by the
nstitution with whom the funds ar8 deposited.
2.5 Taxatlon
The Charity is considered to pass the tests s8t out in Paragraph 1 Schedu19 6 of the Flnanc8 Act
2010 and therefore it meets the definitlon of a charitable company for UK corporation tax purpose5.
Accordingly, the Charity is pol8ntially exempt frcm taxation in respect of income or capital galns
received within categorfes covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Se 258
of the Taxation af Chargeable Gains Act 1992. to the extent that such income or gains are applied
exclusively to charitable purpos8s.
2.6 Tanglble fixèd assets and depreciation
Tangible fixad assets costing £500 or more are capltalis8d and r&cognlsed when future 8conomlc
benefits ar8 probable and the cost or value of th8 asset can be measured reliably.
Tangible fixed assets are initially r8cognised at cost. Aft8r recognition, under the cost model. tsngible
fixed assets ar8 measured at cost18ss accumulated depreciation and any accumulated impairment
losses. All cosls incurred to bring a tangible fixed asset into its Sntended working cc>ndition should be
included In the measurement of cost.
Depreciation is chargad so as to allocate the cost of tsngible fixed assets l@ss thelr residual value
ovar their estlmated useful livas, uslng the straight-line method.
Deprecialion is provided on the following basis..
Fixtures & flttings
Equipment
Improv8ments to property
25°/p Straight line
25 /0 Straight Ilne
25Yo Straight Ilne
2.7 Stocks
stocks are valued at the lower of cost and net realisable value after making due allowance for
obsolete and slow-moving stocks. Cost includes all direct costs and an approprrate proportion of fixed
and variable ovorheads.
2.8 Dobtors
Trade and other d@btors are recognised at th8 settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid n8t of any trade discounts du8.
2.9 Cash at bank and In hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity
of three months or less from the date of acquisition or opening of the deposit or similar account.
Pag8 20

Cyclopark
(A company limlted by guarantea)
Not8s lo tho financial statements
For the year endod 31 March 2024
Accountlng pollcles (contlnued)
2.10 Liabllllies and provlslons
Liabilities ar8 recognised when there is an obligation at the Balance sheet date as a result of a past
event, it is probable that a transfer of economic benefit will be required In settlement. and the amount
of the settlement can be estimatad reliably.
Llabilities are recognised at the amount that the Charity anticipates it will pay lo settle th& debt or the
amount It has r8caived as advanced payments for the goods or seNlCaS It must provide,
Provisions are measured al the best 8Stimate of th8 amounts required lo settle th& obligation. Where
the effect of the time value of money Is malerial, th& provision is based on the present valu8 of Ihose
amounts, dlscounted al the pre-tax discount rate that reflects th8 risks specific lo the liablllty. The
unwinding of the discount is recognised in th8 Statement of financial activiti8s as a finance cost.
2.11 Finan¢lal instrum8nts
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are Initially r8cognised al transactlon value and subs&quently
measured at their seltlement value with the exceptlon cf bank loans which are subsequently
measur8d at amortised cost using th8 effective intarest method.
2.12 Operatlng leases
Rentals paid under operating leases are charg8d lo the Statement of financlal activities on a straight-
Ilne basis over the leas8 term.
2.13 Pensions
The charitable company operates a defined contribution pension scheme. Contributions payable to
Ihe charitable companls pension schem8 are charged to the Statement of Financial Activities in the
period to which they relate.
2.14 Fund accountlng
General funds are unrestricted funds which are available for use at the discretion of the Trust88s in
furtherance of the general objectlv6g of the Charity and which have not been designated for other
pury)oses.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular
purposes. The aim and use of each designated fund is sel out in the notes to the financial
statements.
Restricted funds are funds which are to be used in accordance with specific restrictlons imposed by
donors or which have been raised by the Charity for particular purposes. The costs of ralsing and
adminislgring such funds are charged against the specific fund. The aim and use of each restricted
fund Is set out in the notes to the flnancial statements.
Invastm8nt income, gains and losses are allocatéd to the appropriate fund.
Page21

Cyclopark
(A company Ilmlted by guarantee)
Notes to thè financial statements
For the year ended 31 March 2024
Incom8 from donatlons and legacles
Restricted Unrestrlcted
funds
funds
2024
2024
Total
funds
2024
Totsl
funds
2023
Grants
British Cycling Lighting Grant
Colyer Ferguson Trust
Kent Community Foundation
Other grants
25,000
35,000
10,000
1,580
Sublotal detalled dlsclosure
71,560
Donations
Grants
4,916
38,385
4,916
100,885
9,123
62,500
Subtotal
62,500
43,301
105,801
9,123
62,500
43,301
105,801
80,683
Total 2023
35,000
45,683
80,683
Pag9 22

Cyclopark
{A company Ilmlted by guaranteo)
Notes to the flnanclal statements
For the y8ar end8d 31 March 2024
Income from charltable actlvltles
Unrestrlcted
funds
2024
Total
funds
2024
Total
funds
2023
Recre81ional actirivies - Operation of cycle park
841.488
841,488
804,853
Total 2023
8D4,853
804,853
Income from other trading actlvltles
Income from fundraisrng ev8nts
Unrestrlcted
funds
2024
Total
funds
2024
Total
funds
2023
Chrlstmas market event
30,491
Total 2023
30,491
30,491
Pag8 23

Cyclopark
(A company limited by guarante¢l
Notes to th8 financlal statements
For the year ended 31 March 2024
Income from other Iradlng activltles (contlnued)
Income from non charitablg tradlng actlvltlos
Unrestricted
funds
2024
Totsl
funds
2024
Total
funds
2023
Cafe income
203,176
203,176
170,847
Total 2023
170,847
170,847
Investment Income
Unrestrl￿ed
funds
2024
Total
funds
2024
Total
funds
2023
R8ntal income
Bank Interest recelved
22,504
2,158
22,504
2,158
22,394
335
24,662
24,662
22,729
Total 2023
22,729
22,729
Expendituro on ralslng funds
Costs of ralslng voluntary Income
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Christrnas market expenditure
21,52g
Total 2023
21,529
21,529
Page 24

Cyclopark
(A company Ilmlted by guarantee)
Notes lo the flnancial statements
For the year end8d 31 March 2024
Expendlture on ralslng funds Icontlnued)
other trading 8xpen$es
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Purchases
Tr8ding account staff costs
69,786
69,424
69,788
69,424
67,209
65,899
139,210
139,210
133,108
Total 2023
133,108
133,108
Analysls of grants
Grants lo
Individuals
2024
Total
funds
2024
Total
funds
2023
Aw8rds and Grants
1,126
1,126
Analysis of exp8ndilure on chariiabl8 activltles
Summary by fund type
Restrided Unrestricted
funds
funds
2024
2024
Total
2024
Tolal
2023
Recreational actirivies - Operation of cycle
park
Awards and Grants
986,301
1,126
9B6,301
1,126
948,012
987,427
987,427
948,012
Totsl 2023
9,007
939,005
948,012
Pag6 25

Cyclopark
(A company limited by guarantee)
Notes lo th8 financlal statements
For the year ended 31 March 2024
10. Analysls of expondlture by actlvlties
Actlvltios
undertaken
directly
2024
Grant
funding of
activili88
2024
Support
osts
2024
Total
funds
2024
Total
funds
2023
Recreational activities
Operation of cycle park
Awards and Grants
783,363
202.938
986,301
1,126
948,012
1,126
783,363
1,126
202,938
987A27
948,012
Total 2023
781,Q61
166,951
948,012
Analysls of direct costs
Total
funds
2024
Total
funds
2023
Acliviti88
2024
staff costs
Depreciation
Insurance
Premises costs
Consumables
Irr8coverable VAT
Coachlng costs
Equipment costs
Other stsff cost8
Bad debts Write off
Processing and bank charges
{Profit)ILoss on sale of assets
255,196
95,909
24,527
198,053
8,496
33,084
65,082
59,834
14,165
333
28,684
255,196
95,909
24,527
198,053
8,496
33,084
65,082
59,834
14,165
333
28,684
279,765
73,714
23,141
203,5D4
8,593
34,982
55,236
70,119
8,239
(134)
27,065
(3,163)
783,363
783,363
781,061
Total 2023
781,061
781,061
Page 26

Cyclopark
(A company Ilmlted by guarantse)
Notes to the financial statements
For the yèar ended 31 March 2024
10. Analysls of expendlturo by actlvitios (conllnuod)
Analysis of support costs
Total
funds
2024
Total
funds
2023
Actlvltles
2024
staff cosls
Marketing
Security
Professional fees
Audltors, remuneratlon
Accounting and administrallon
167,933
8,945
208
167,933
6,945
208
7,777
12.600
7,475
125,891
17,372
691
6,800
8,550
7,647
7.777
12,800
7,475
202,938
202,938
166.951
Total 2023
166.951
166.951
11. Audltors. remuneration
2024
2023
Fees payable to tho Charitys auditor for the audit of the Charity's annual
accounts
12,600
8,550
Fees payabl8 to the Charitys auditor In respect of.
All non-audlt servlces nol included above
2,200
1,200
12. Staff costs
2024
2023
Wages and salaries
Social security costs
Ccntrlbution to defined contribution pension schemes
464,384
21,983
6,186
445.137
20.611
5,807
492,553
471.555
Page 27

Cyclopark
(A company limited by guarantee)
Notes to the financlal statements
For the year ended 31 March 2024
12. Staff costs (contlnued)
The average number of persons employed by th8 Charity durlng the year was as follows:
2024
No.
2023
No.
Management
Operation8
Reception
32
30
46
43
The averag8 headcount expressed as full-time equivalents was;
2024
No.
2023
No.
Manag8mer7t
Operations
R8c8Ption
13
13
20
22
No employee received remuneration amountlng to more than £60,000 in elther year.
The total employment b8nefits including employer pension contributions of the key management
personnel were £100,73712023: £140.512).
13.
Trustees, remuneration and expenses
During the year, no Trustees rec8ived any remuneration or other benefits (2023 - £NIL).
During the year ended 31 March 2024, no Trustee expenses have been incurred (2023- £NIL),
Page 28

Cyclopark
{A company Ilmlted by guarantea)
Not88 to the financlal statements
For the year ended 31 March 2024
14. Tanglblo flxed assets
Improve-
ments to
property Equlpment
Flxtures and
flttlngs
Total
Cost or valuation
At 1 April 2023
Addltions
78,202
189,693
75,546
185,631
26,202
453,526
101,748
At 31 March 2024
78,202
265,239
211,833
555,274
Depreciation
At 1 April 2023
Charge for the year
48.877
19,551
88,282
43,834
91,124
32,525
228.283
95,910
At 31 March 2024
68,428
132,116
123,649
324.193
Net book valua
At 31 March 2024
9,774
133,123
88,184
231,081
At 31 March 2023
29,325
101,411
94.507
225,243
15. Stocks
2024
2023
Flnlshed goods and goods for resale
3,926
3,697
16.
Debtors
2024
2023
Due withln one year
Trade debtors
other debtors
Prepayments and accrued income
46,867
2,755
16,222
7.736
2.246
21,734
65,844
31,716
Pag8 29

Cyclopark
{A company Ilmit&d by guarantee)
Notes lo the financial statements
For the year ended 31 March 2024
17. Credltors: Amounts falllng due withln one year
2024
2023
Bank loans
Trade creditors
Other taxation and social security
Pension fund loan payable
Accruals and deferred income
10,070
59,076
30,868
1,718
105,354
9,820
51,557
30.042
1,421
99,294
207,086
192,134
18.
Creditors: Amounts falllng due after more than one year
2024
2023
other credltors
13,195
23,365
Page 30

Cyclopark
(A company Ilmlted by guarant88)
Notes to the flnanclal statemen1$
For Ihe year ended 31 March 2024
19. Statement of funds
statement of funds • current year
Balance at
31 March
2024
Balance at 1
Aprll 2023
Transf&rs
Inlout
Incomo Expenditure
unr0strl￿ed funds
Designated funds
Sinking Designated funds
50,000
(50,000)
General funds
General fund
288,397
1.112,627 (1,126,637)
122,500
396,887
Total Unrestrictèd funds
338,397
1.112,627 (1,126,637)
72,500
396,887
Restricted funds
Kenl Community Fund- Skills
Ar8a Grant
Highways - Cycloland
Extension
10,000
(10,000)
62.500
{62,500)
10,000
62,500
(72,5001
Total of funds
348,397
1,175,127 (1,126,637)
396,887
Bikeability fund - Funds for the purchase of disabllity cycles and development of storage facility
Kent Communlty Fund - Skills ￿ea Grant - Creation of new cycling confidencel skills area
Britlsh Cycling Llghtlng Improvement scheme - funds used towards lighting purchased in Ihe year
Highways - Cycloland Extension - Supply and building of a Themed Tunnel with coloured Perspex
lights, timber framed wlth galvanisad ste&1 footings in tha play park
Pag8 31

Cy¢lopark
(A company limlted by guarant88)
Notes to th8 financlal statements
For the year onded 31 March 2024
19. Slalement of funds Icontlnu•d)
Slatement of fundg - prlor year
Balance at
1 April 2022
Balance at
31 March
2023
Transfers
in/out
Income Expenditure
Unrestrlcted funds
D88ignated funds
Slnking Designated funds
Pavilllon Rafit fund
50.000
95,000
50.000
(95,0001
145,000
{95,000)
50,000
General funds
Ganeral fund
182,048
1,074,603 (1.093,642)
125.388
288,397
Total Unr8Stricted funds
327,048
1,074,603 (1,093,642)
30,388
338,397
Restrlcted funds
Bik8abilily fund
Kenl Community Fund - Skills
Area Grant
British Cycling Lighting
Improvement scherne
14,395
(9,007)
(5,388)
10,000
10,000
25,000
125,000)
14,395
35,000
{9,007}
(30,3881
10,000
Total of funds
341.443
1,109,603 (1,102,649)
348,397
Page 32

Cyclopark
{A company limited by guarantee)
Not83 to the flnanclal statements
For the year ended 31 March 2024
20. Summary of funds
Summary of funds . current year
Balance at
31 March
2024
Balance al 1
April 2023
Transfers
inlout
Income Expanditura
Deslgnated funds
General fvnds
Restrlcted funds
50,000
288,397
10,000
{50,000)
122,500
(72,500)
1,112,627 (1,126,637)
62.500
396,887
348,397
1,175.127 (1,128,637)
396,887
Summary of funds - prlor year
Balance at
31 March
2023
Balance at
1 April 2022
Transfers
inlout
Income Expendlture
D8signated funds
G8n&ral funds
Restricted funds
145,000
182,048
14,395
195,000)
125.388
130,388)
50,000
288,397
10,000
1.074,603 11,093,642)
35,000
{9,007)
341,443
1,109,603 (1,102,649)
348,397
21. Analysis of net assets between funds
Analysls of net assets b8tween funds * current perlod
Unrestrlcted
funds
2024
Total
funds
2024
Tangible fixed assets
Current assets
Creditors due within one year
Creditors due Sn more than one year
231.082
231,082
386,086
386,086
(207,086) 1207,086)
113,195)
{13,195)
Total
396.887
396,887
Page 33

Cyclopark
(A company Ilmited by guarantee)
Notes to the financial statoments
For the year ended 31 March 2024
21. Analysis of net assets between funds (contlnued)
Analysls of net assets between funds- prlor period
Restricted Unrestrtcted
funds
funds
2023
2023
Total
funds
2023
Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
225,243
225,243
328,653
338,653
(192.1341 (192,134)
(23,365)
(23,365)
10,000
Total
10,000
338,397
348,397
22.
Reconcillatlon of net mov8ment In funds to net cash flow from operatlng activities
2024
2023
Net income for the period las per Statement of Financial Activities}
48,490
6,954
Adjustments for:
D8preciation charges
Dividends, interests and rents from invastments
Profit on the sale of fixed ass8ts
Increase in stocks
Decreasellincrease) in debtors
Increase in creditors
95,910
(24,662)
73,714
(22.729)
(359)
(1,471)
29,622
9,683
(229)
(34,128>
14,850
Net cash provlded by operatlng a¢tlvities
100,231
95,414
23. Analysls of cash and cash equivalents
2024
2023
Cash in hand
316.316
303,240
Total cash and cash equivalents
316,316
303,240
Pag8 34

Cyclopark
(A company Ilmltsd by guarantee)
Notes to the financial statements
For the year endod 31 March 2024
24. Analysls of changes In net dèbt
At 1 Aprfl
2023 Cash flows
At 31 March
2024
Cash at bank and in hand
Debt dua within 1 year
303,240
(11,241)
13,076
(547)
316,316
(11,788)
291,999
12,529
304,528
25.
Pansion commitmonts
The charity operates a defined contributions pension scheme. The assets of the schem8 ar8 held
separat81y from those of charity in sn 1ndependently admlnistered fund. Th@ pension cost charge
r6presents contribuilons payable by the charfty to the fund and amounted to £6.186 (2023.. £5,807).
26.
Operating I￿s6 commitment5
At 31 March 2024 thg Charity had commitments to make fLrture minimum lease paym&nts under non-
canc8118ble operating leases as follows:
2023
R8stat8d
2024
Not later than 1 year
Later than 1 year and not later than 5 years
Later than 5 years
34,068
123.556
91,800
1,156
1,156
249,424
27.
Related party transactions
Bruce Sand@11 (Trust8e) is the Chair, as well as Committee member and race organiser for the
Southborough & Dlstrlct Wheelers committee who hosted the Cyclocross national Irophy at Cyclopark
during the year. A Service Level Agreement has been written be￿een Cyclopark and the Southborough
& District Wheelers detalllng the responsibilities of the host and the venue. Income of £523 (2023- £4591
has b8en paid during the year. No balances existed at year end (2023- £Nil).
Pag8 35