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2022-03-31-accounts

Annual Report and Financial Statements 2021–2022

Covering the period 1 April 2021–31 March 2022

Our values

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We support each other, value the power in
We are one
Collaborating combining our personal qualities, expertise,
as one team team delivering and enthusiasm to drive innovation and get
lasting change more people cycling.
We unite everyone in the cycling movement
Together we
with a common goal of making it an activity
Enabling the inspire, educate, accessible to millions more people.
movement and equip more We partner with and learn from others.
people to cycle
We equip , lead, educate , and inspire
more often
others to find their voice.
Everyone should be able to share the joys
of cycling and unlock that fun , freedom , and
adventure .
Cycling can
Believing We believe cycling can be highly affordable,
transform lives
in better convenient , and a healthy way to travel.
and communities
We want to highlight the life-enhancing
benefits that cycling can bring to individuals,
communities, and the environment.
Equality , diversity and inclusion are core
We enable those and fundamental to our work.
Cycling for all less likely to be We push back on barriers, inspire , equip ,
able to cycle educate , and work with others to find
solutions.
We are transparent and accountable , and
We are the strive to continually improve by being open
Being brilliant experts, eager and responsive.
to learn more We provide a human touch to deliver the best
services with simple, efficient processes.
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Contents

Contents
Our values 1
Introduction 3
Our vision – enabling millions more to cycle 5
Enable cycling for all 6
Speak up for all who cycle 12
Strengthen our organisation 20
Build sustainable membership 26
Our planned activities for 2022–23 30
Financial summary 31
Governance summary 34
Independent auditor’s report 39
Consolidated fnancial statements and notes to the accounts 43
Legal and administrative information 69

Page 2

Cycling UK Annual Report and Financial Statements 2021–2022

Introduction

Annual Report 2021–2022 Cyclists’ Touring Club operating as Cycling UK

Sarah Mitchell, chief executive

Janet Atherton, chair of trustees

The last year has seen Cycling UK go from strength to strength as we start to see the fruits of our investment in the organisation paying off.

which applied across all areas of our work. These included establishing a diversity and inclusion staff group to inform and challenge thinking in the organisation, training for all staff and improvements to our recruitment of both staff and trustees to encourage an even wider range of applicants to work with us at Cycling UK.

Over the past year we have made great progress in building up Cycling UK to be more effective and more responsive, making the most efficient use of our resources. We invested in our digital infrastructure, systems and our staff. We also started a review aimed at ensuring that membership stays central to our work in the future. Through all of this we aim to provide an even better offer to our members and those who work and campaign with us.

We have continued to build our capacity to be truly Cycling UK with staff and volunteers in all nations. Our new staff in Wales and Northern Ireland are already making an impact and building our influence as they launch new routes and collaborate with partners to ensure cycling was an important issue in recent elections.

In 2021 we refreshed our five-year strategy, taking account of the huge amount of change since 2018. We have streamlined our work into four clear areas of priority which will guide all our plans until 2024. This has given the shape to our organisation-wide business plan and enables teams from across the organisation to work more closely together.

In our cycling behaviour change projects we have seen real success in getting a more diverse range of people cycling. In contrast to the usual low participation figures for women in cycling, our Big Bike Revival project saw 49% of participants were female and 19% from a minority ethnic community background. This demonstrates the significant impact we have with our projects targeted at non-regular cyclists.

Our values, developed by the staff team, have continued to inform all our work, from frontline cycling development officers to our board of trustees. Our commitment to being an inclusive organisation, set out in the summer, was underlined this year in our diversity and inclusion activities

Page 3 Cycling UK Annual Report and Financial Statements 2021–2022

Cycling UK doesn’t just want more people cycling, we also want cycling in the UK to reflect the rich diversity of the people who live here. We are therefore incredibly proud of the impact we have achieved with our behaviour change programmes in England and in Scotland, reaching 260,365 people this year and 702,274 in the past three years of our strategy.

A further big highlight this year was our campaigning success. Cycle campaigning has been a core part of our work at Cycling UK since our earliest days 144 years ago – we know that campaigning for real change can take many years. It’s not every year that we get to see tangible results, but 2022 saw significant changes to the Highway Code that will inform and improve the welfare of cyclists on our roads for years to come, This was the culmination of 11 years of lobbying.

Our campaign to highlight the importance of cycling and active travel to combatting climate change had a powerful impact at COP26 and was picked up internationally. And in January we were successful in our legal challenge to West Sussex County Council’s decision to remove a well-used cycle lane. This case was important because it sent a message to other councils that removing cycle lanes should not be done without due consultation.

Councils have to act in accordance with government guidance when taking decisions both on installing and removing cycle lanes and other traffic-reduction measures. In this case West Sussex CC did not, and Cycling UK stepped in to right this wrong and have the council admit its error. We hope this will reduce councils’ removal of cycle lanes as a knee-jerk response to a small number of vocal critics.

These campaigns would not have been successful without our members and supporters, who have given time and expertise, as well as donating much-needed money to our Cyclists’ Defence Fund. We are particularly grateful to those who have stepped up as members of our newly formed Cycle Advocacy Network which will strengthen our local campaigning for future years. On behalf of the strategic leadership team we want to thank you for your enthusiasm and support for our work.

We also want to recognise the huge amount of dedication and hard work of Cycling UK staff and volunteers throughout this difficult year – many have balanced home working, caring and the uncertainty of a second year of Covid-related changes with great equanimity, humour and perseverance. And in this report we celebrate the fantastic results of their continued dedication!

A further big highlight this year was our campaigning success. Cycle campaigning has been a core part of our work at Cycling UK since our earliest days 144 years ago

Cycling UK Annual Report and Financial Statements 2021–2022 Page 4

Annual Report 2021–2022 Cyclists’ Touring Club operating as Cycling UK

Our vision

Our vision – enabling millions more to cycle

Imagine a country where cycling is a safe and popular mode of transport for people of all backgrounds and abilities, where air pollution is no longer poisoning our children, health is improved, and traffic congestion is gone. This is Cycling UK’s vision.

Our mission at Cycling UK is to enable millions more to cycle. To allow us to meet that challenge, in 2021 we refreshed our five-year strategy, taking account of the huge amount of change since 2018. We have streamlined our work into four clear pillars building blocks to achieve our mission. These will guide all our plans until 2024.

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Enable millions more to cycle
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PILLAR ONE
Enable cycling
for all
• Behaviour change
interventions
• Build robust evidence
on efficacy
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• Engage non-regular
cyclists and tackle
barriers to cycling
• Unlock diversity and
inclusivity in cycling
• Share content to
keep people cycling
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PILLAR TWO PILLAR THREE PILLAR FOUR
Speak up for all Strengthen our Build sustainable
who cycle organisation membership
•Campaign on issues • Effective internal • Develop vision and
that impact all systems and aims for membership
who cycle and for processes for staff development
potential cyclists and volunteers
• Shape membership
•Use our expertise • Secure and offer and groups
and stories to sustainable income in line with vision
influence public and
• Digitally enabled • Connect membership
decision makers
into our strategic
• Consistent ways
•Act both locally priorities
of working
and across nations
• Secure income for
• Empower effective
•Normalising cycling the coming years
and professional
by tackling negative staff and volunteers
perceptions of cycling
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Mutually reinforcing
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Page 5 Cycling UK Annual Report and Financial Statements 2021–2022

Enable cycling for all

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PILLAR ONE
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Our first pillar is ‘Enable cycling for all’. This is where we focus on what needs to happen to enable as many people as possible to start cycling and where we address barriers to cycling. We run more than 20 separate programmes across England and Scotland that help people start cycling, and have started projects such as route development in Northern Ireland and Wales. These projects are designed to make sure that they reach people who might not typically think of cycling as being ‘for them’. We aim to address the barriers to cycling that people can face and open up the idea of cycling to new audiences. The funding comes from national governments in Scotland and England as well as local authorities, NHS partners and philanthropic sources.

Page 6

Cycling UK Annual Report and Financial Statements 2021–2022

Enable cycling for all

Annual Report 2021–2022 Cyclists’ Touring Club operating as Cycling UK

How we’re making a difference

As cost of living rise bites across the UK in 2022, forcing many households to consider alternative ways of making their shorter journeys, we’re pleased to say Cycling UK’s projects from last year are continuing to give people the skills and means to enjoy cheaper and sustainable options for local travel.

Big Bike Revival

The Big Bike Revival project in England offers grants to local organisations to provide cycling support and activities in their communities. Our network of local development officers advise local groups on how to put on bike maintenance classes, provide Dr Bike events, organise led rides, teach people to cycle and much more.

BBR has managed incredible reach this year, with more people than ever taking steps towards cycling for their local journeys.

19%

of participants identify as an ethnic minority

34%

live in areas of deprivation (as per index of multiple deprivation)

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BBR Shift Total
Number of groups funded 333 100 433
Number of people reached 80,000 9,000 89,000
% of women reached Over 50%
% not already cycling regularly
Around 40%
(once a fortnight or more)
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Shift

Scotland’s Shift project works in a similar way to Big Bike Revival but also includes an innovation stream allowing small businesses to test new transport solutions. These might be cargo bike deliveries or using bike fleets for home care worker transport. This year Shift funding helped a community organisation work with small businesses in the rural town of Strathaven to trial local cargo bike deliveries. This enabled some van deliveries to be replaced and supported the local high street.

Page 7 Cycling UK Annual Report and Financial Statements 2021–2022

Community Cycle Clubs

Community Cycle Clubs provide opportunities for people to enjoy the benefits of cycling in a welcoming, social environment. By working with local organisations and creating a sustainable volunteering network, cycling is used by the clubs to address a broad range of localised identified needs within their communities; these can range from social isolation, community cohesion, health and wellbeing inequalities, transport poverty, and expanding travel horizons for residents.

156

number of clubs

12

clubs with a focus on health

2619

sessions delivered

52%

of participants are female

41%

of participants identify as an ethnic minority

Case study: Overcoming addiction through cycling

Two years ago, just before the pandemic and lockdown began, Nicky Dwyer was running a programme in Solihull to help people with long-term addiction and mental health issues. When lockdown hit, their weekly cycle group became a lifeline.

“It really saved a lot of people’s lives. People had got to the point where they just couldn’t cope anymore, some people were suicidal, people were self-harming and wanting to go back to drugs and our CCC gave them a different option, we allowed them to come out and meet us and go out on the bikes.” Nicky Dwyer, Changes UK service manager

Scotland Cycle Repair Scheme

With finances tight and many people looking for a cheap and sustainable alternative for local journeys, Cycling UK’s Scotland Cycle Repair Scheme provided a lifeline for thousands last year.

From November 2021 to May 2022, the Scotland Cycle Repair Scheme provided £50 discounts for people struggling to afford bike repairs and servicing.

“As a single parent at college I couldn’t afford to get my bike repaired so this scheme has helped me greatly. Knowing my bike is safe to ride gives me confidence, let’s me enjoy my ride and makes me want to get out on it more.”

B, Falkirk, Scotland

Cycling UK Annual Report and Financial Statements 2021–2022 Page 8

Annual Report 2021–2022 Cyclists’ Touring Club operating as Cycling UK

Enable cycling for all

Local programmes – bringing communities together

While cycling is inherently a fun activity, it also has a serious side. For many people across the UK it could be part of the solution to a number of problems they might encounter in their day to day lives.

From financial troubles and transport woes to physical and mental wellbeing, Cycling UK’s projects and activities around the UK are helping people tackle these issues. Below we’ve pulled out a few examples to give a flavour of the different types of activity we provide.

At the moment, many of our projects are in Scotland and northern England, and we’re continuing to expand and grow our activities in Northern Ireland, Wales and the south of England.

Active Cairngorms E-bike

Providing e-cycle loans to residents living around the Cairngorms National Park. A demonstration project to show the positive impact e-cycles can have on reducing car use in rural areas.

In Tandem

Extending opportunities for visually impaired riders in the west of Scotland, training new stokers and supporting developing a network of rides and clubs across the area.

Rural Connections

We work in seven rural and remote communities in Scotland to provide more opportunities to get walking and cycling. This year our local staff have been organising led rides, bike loans, cycling confidence sessions and support for local walking, cycling and wheeling activities in Shetland, Orkney, Highland, Eileanan Siar (Western Isles), Moray, Argyll and Bute and Scottish Borders.

“I’m approaching 66,and I cannot tell you how liberating this feels for me! I have a disability and reduced lung capacity and so have never been able to ride a bike in my life. I wasn’t sure if I could manage the trike but it was brilliant” Sian, e-trike recipient, Rural Connections

Page 9 Cycling UK Annual Report and Financial Statements 2021–2022

Play Together on Pedals

We train 100s of early years workers and volunteers across Glasgow to run cycling activities for under 5s with access to balance and small bikes. We are ensuring the next generation of cyclists are raring to go.

Case study:

Working in communities across Scotland

Cycle for Health

Working within the West Yorkshire Combined Authority, Cycle for Health provides a group programme aimed at improving the lives of those with physical and mental health conditions.

The Inverclyde Bothy, located west of Glasgow, was recognised as ‘Health Walk Group of the Year’ at the Paths for All Volunteer Awards 2021. The Bothy provides around 30 Health Walks every month alongside its cycling activities.

“The work undertaken has provided a lifeline for many and for that we’re forever grateful” Kevin Lafferty, chief executive officer at Paths for All

As well as drop in walks and bike rides, the Bothy has provided more than 90 ‘social prescriptions’ to individuals signposted from local GPs, mental health support and other community agencies. Watch the film at: youtu.be/9xXCmB2d4N4

The Bothies

Five Bothies are spread across Scotland, offering both walking and cycling activities for communities in Inverclyde, Dunoon, Ardrishaig, Golspie and Aberdeenshire. The Bothy staff provide short Health Walks for building fitness and community links, alongside led rides, bike loans and cycling confidence sessions. The teams also work with local partnerships to expand the opportunities and support for active travel in their areas.

Cycling UK Annual Report and Financial Statements 2021–2022 Page 10

Annual Report 2021–2022 Cyclists’ Touring Club operating as Cycling UK

Enable cycling for all

Cycle Friendly Employers

With 20% of daily commutes shown to be between five and 10 miles, and 75% of them fewer than 10 miles, there are clear opportunities to help the workforce change their transport habits towards more sustainable activities like cycling.

The Cycling Friendly Employer (CFE) programme supports people to get into cycling via their employer. It’s the international benchmark for active travel culture and infrastructure in the workplace and allows employers to take positive action on climate change and staff wellbeing.

Under the Cycling Friendly Employer (CFE) programme we accredited 16 new businesses, including several employers with multiple sites and national coverage, adding a further 67,000 employees into the community of people working for cycle-friendly employers.

People sometimes need a nudge and support from their workplace to make that shift. This is why the Cycling Friendly Employer (CFE) programme supports them to get into cycling via their employer.

Accredited organisations in 2021– 2022 include:

The Cycle Friendly Employer award is the international benchmark for active travel culture and infrastructure in the workplace

Page 11 Cycling UK Annual Report and Financial Statements 2021–2022

Speak up for all who cycle

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PILLAR TWO
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Our second pillar is about speaking up for those who cycle. Our influence and engagement teams play a key role in enabling millions more to cycle. With staff and members across the UK, we are able to influence the conversation with both government and local councils in all nations and around active travel. Our campaigns team are relentless in calling for decision makers and politicians to step up and make cycling happen, and we’re proud of some hard-won successes here. We use our voice and reach to engage others to amplify the message and support people to get involved in their local areas.

Page 12

Cycling UK Annual Report and Financial Statements 2021–2022

Speak up for all who cycle Annual Report 2021–2022 Cyclists’ Touring Club operating as Cycling UK

Campaigns and policy

While our behaviour change work is helping to prepare people for our vision where cycling is a safe and popular mode of transport for everyone no matter their background or abilities, it is our campaigns and policy work that is laying the foundations for this world both at national and local levels.

During the past two years, we have seen significant progress in all four UK nations, on boosting funding for ‘active travel’ and getting governments to adopt standards for designing roads, junctions and cycle-specific facilities to be cycle and pedestrian friendly. Good design standards are, of course, crucial for ensuring that whatever funding is available for cycling and walking results in high-quality facilities that genuinely facilitate cycling, while also ensuring that good provision is included in other highway and traffic schemes too.

Following 11 years of sustained lobbying, we have also seen major changes in the Highway Code which, thanks to Cycling UK, will make the roads safer for everyone, whether they’re walking, cycling, riding a horse or driving.

Scotland

We used elections in the Scottish parliament as an opportunity to successfully press politicians to support cycling and walking.

10%

of transport budget to be devoted to cycling and walking by 2024/5

£320m

Scotland’s active travel budget will rise from £150m (or £27.42 per person) this year, to £320m (or £58.50 per person) in 3 years’ time

We also seized the opportunity of the COP26 international climate summit in Glasgow, creating projections onto notable buildings to get the message ‘This machine fights climate change’ to go viral. This helped ensure that cycling and sustainable travel were added in to the COP26 transport declaration, which had previously been all about electric cars.

Page 13 Cycling UK Annual Report and Financial Statements 2021–2022

England

With only local elections in England and funding secured at a national level for the foreseeable future, we’ve been working on growing our Cycle Advocacy Network (CAN) and fighting local battles that have national significance.

£2bn

funding for cycling and walking over 5 years equivalent to £8.42 per person annually

Cycling infrastructure guidance adopted

521

people have connected with CAN across all four nations giving Cycling UK coverage across 101 highway authorities

Successful outcome in our legal challenge to West Sussex County Council’s illegal removal of a cycle lane in Shoreham

Northern Ireland

We have invested in a new role in the campaigns team based in Northern Ireland and focusing there, giving Cycling UK a voice in Northern Ireland that we have previously lacked. Cycling UK supports the All Party Parliamentary Cycling Group and our recent election campaign won commitment from more than half of the newly elected MLAs to the Northern Ireland Assembly, to champion active travel and enable local changes through national policy.

Wales

We used elections to the Welsh Senedd as an opportunity to successfully press politicians to support cycling and walking.

We organised a hustings event, where the transport spokespeople for Wales’s four largest parties backed our bilingual manifesto. Our actions contributed to:

£75m

increased spending on active travel to £75m (or £23.66 per person)

20mph

Adoption of default speed limit for urban streets

We helped pause Wales’s road-building programme, with Commissions being set up in both north and south Wales to consider alternatives

48

We engaged the support of 48 out of 90 Members of the Legislative Assembly (MLA) for our manifesto

Page 14

Cycling UK Annual Report and Financial Statements 2021–2022

Speak up for all who cycle

Annual Report 2021–2022 Cyclists’ Touring Club operating as Cycling UK

Highway Code

One of our most high-profile wins was the adoption of the new Highway Code. It has been 14 years since we last had an opportunity to improve the Highway Code. This time though, thanks to the backing of 16,000 members and supporters, the gains we have made are likely to be transformational. They not only clarify that those using the road in the most dangerous vehicles have primary responsibility for those who are most at risk, but they also include specific rules about drivers giving way to cyclists and pedestrians at crossing points and junctions. These rules will, in turn, make it much easier for traffic engineers to design junctions in ways that are normal in countries like Denmark and the Netherlands, giving clear priority to pedestrian and cycle traffic.

This campaign saw Cycling UK at our most creative and collaborative. We used new technologies, including virtual-reality filming, and worked closely with partners across active travel and the police. Together we have delivered the foundations of a code which will fundamentally change the behaviour on our roads and which definitively ends the ‘might is right’ narrative which has prevailed for so long.

Looking to the future, we will continue to work with the Department for Transport’s THINK campaign to ensure the changes are communicated clearly and correctly over the years to come.

Highway Code timeline – the past five years

March 2017:

Cycling UK launches Too Close for Comfort campaign to tackle dangerous close passes and press for changes to Highway Code overtaking rules.

April 2018:

Cycling UK launches Cycle Safety: Make it Simple campaign, calling for road safety changes including a revised Highway Code, backed by more than 10,000 members and supporters.

June 2018:

Cycling UK picks up British Cycling’s Turning the Corner campaign for changes to junction priority rules, pressing for these to be included in new Highway Code rules.

November 2018:

In response to our Cycle Safety: Make it Simple campaign, the government promises to review the Highway Code to make it safer for cyclists and pedestrians.

November 2018-present:

Cycling UK’s policy director Roger Geffen works with stakeholders to influence proposals for changes to the Highway Code.

June 2019:

Cycling UK launches Dutch Reach campaign to tackle car-dooring.

June 2020:

Cycling UK launches major Highway Code campaign supported by almost 17,000 people, in response to the government’s consultation on Highway Code changes.

December 2021–January 2022:

Cycling UK presses the government on the absence of any public awareness campaign for the forthcoming Highway Code changes.

February 2022-present:

Cycling UK works with Department for Transport’s THINK campaign and partners to help shape future public-awareness campaign of the changes.

1.5m

Page 15 Cycling UK Annual Report and Financial Statements 2021–2022

This campaign [Highway Code] saw Cycling UK at our most creative and collaborative. We used new technologies, including virtual-reality filming, and worked closely with partners across active travel and the police

Speaking up

An important part of our work is not just communicating with our members and the wider cycling community but also engaging with the public and talking about the work we do as a charity.

We achieve this across a number of channels including our magazine Cycle, which has the highest circulation of any cycling magazine in the UK, website, social media, e-newsletters and securing coverage in the media.

6

editions of Cycle magazine

4.14 million

unique website visitors

17.7%

Increase in social media followers to a total of 148,896 people

11.1%

click rate in our e-communications, far higher than the industry average of 2.7%

4663

mentions across broadcast, national, regional, trade and online media

#12nightsoutin1year

Making the most of the lockdown staycation, in collaboration with Ordnance Survey, Cycling UK launched our bikepacking challenge encouraging people to head out on their bikes and try a night beneath the stars at least once a month.

Championed by our ambassador and Cycling UK member Vedangi Kulkarni, this fun challenge engaged with the growing community of bikepackers and bikepacking curious on Instagram. It was designed to give them the skills and confidence to explore the UK’s countryside responsibly.

Since its launch in May 2021, there have been 592 engagements with the hashtag on Instagram, and it has reached approximately 1.5 million people.

Page 16

Cycling UK Annual Report and Financial Statements 2021–2022

Annual Report 2021–2022 Cyclists’ Touring Club operating as Cycling UK

Speak up for all who cycle

Celebrating cycling and inspiring action

Despite Covid’s best efforts, we continued to adapt our mass participation events, Bike Week and World’s Biggest Bike Ride, as marketing campaigns that raised the profile of cycling and Cycling UK’s activities, encouraging the public to take part in their local areas.

Taking place between 30 May–5 June 2021, Bike Week was launched on 30 May with the World’s Biggest Bike Ride, with the challenge attracting over 8,000 participants on one day.

23,700 468,000 cyclists participated miles were recorded in total

Cathedrals Ride

In 2021, Cycling UK also partnered with the British Pilgrimage Trust, Sustrans and the Association of English Cathedrals on a relay-style event between cathedrals across England, providing 42 new routes ranging from a few miles to over 100 miles.

These routes grabbed imaginations, generating national and local press coverage across the majority of England, with 25,145 unique website visitors to Cycling UK to access the routes.

Page 17 Cycling UK Annual Report and Financial Statements 2021–2022

Women’s cycling

Traditionally, women cycle far less than men in the UK and we’re committed to pushing forward activities and events that inspire women to get involved.

We saw an increase in women discovering cycling during the pandemic, so by tapping into this new wave of females embracing the quieter roads and rediscovering cycling, we were able to tailor events to better support women’s needs.

In 2021, with the surge in digital and social consumption during lockdown, our ‘Women’s Festival of Cycling’ focused on two weeks in the summer raising the profile of cycling with women and demonstrating its relevance, with delivery of virtual events taking place in all four nations.

This resulted in targets being surpassed, such as a 300% increase of engagement on the website, with over 25,250 visits, growth of our online network of women who cycle to over 6,000 active participants of our Facebook page, plus a social media reach of almost 3.45m.

At Cycling UK we use our voice and platform to spotlight great women who are championing cycling, developing our understanding of women’s cycling behaviours. We gained valuable insights through a women’s survey into cycling attitudes, with nearly 3,500 responses across the UK, and showcased a further ‘100 Women in Cycling’ – highlighting inspiring individuals representing many different backgrounds, experiences and ages.

By tracking engagement through our #BeYouByBike hashtag, we saw thousands of women take part in rides and share their experiences online, creating an increase in followers and reach of news and stories about women’s cycling.

At Cycling UK we use our voice and our platform to spotlight some of the incredible women who are already making waves in the cycling world

Website figures beat target by 300% due to success of the log your ride page

Facebook growth linked to online promotion of the festival, increasing to 6,000 followers

Digital events led to the increase in newsletter sign ups, double what it was previously

Social media reach was linked to influencer strategy, bicycle face social media campaign and partner support

Cycling UK Annual Report and Financial Statements 2021–2022 Page 18

Annual Report 2021–2022 Cyclists’ Touring Club operating as Cycling UK

Speak up for all who cycle

EXPERIENCE: spotlight on West Kernow Way

Cycling UK is one of 14 partners delivering the EXPERIENCE project, funded by the European Regional Development Fund, which aims to develop experiential tourism activities in Kent, Cornwall and Norfolk. Our work is focused on reinventing the way the economy, environment, communities and brands interact – focusing on sustainable, low-impact tourism activities to secure the future resilience of the region’s natural and cultural assets. The project runs until June 2023.

Working in partnership with EXPERIENCE partners Cycling UK is developing 48 cycling routes in Kent, Cornwall and Norfolk and a Cycle Friendly Places accreditation programme for businesses working in tourism across the three counties. Accreditation is free and businesses receive a brilliant range of benefits including equipment and a listing on the county page so cyclists know they will be

greeted with a warm welcome and everything they need for a cycling holiday. This year we have accredited over 30 businesses as Cycle Friendly and will have more than 150 accredited by the end of the project.

The West Kernow Way is one of the routes and takes in many of the highlights of the western half of the Cornish peninsula along the 230km route, including the Botallack tin mines, the Bronze Age monument Mên-an-Tol, Land’s End, St Michael’s Mount and Lizard Point. Expect spectacular coastal scenery, hedgerows bursting with wildflowers and ancient tracks across isolated moorland.

Later in 2022 we will be launching two other long-distance routes in Kent and in Norfolk.

Page 19 Cycling UK Annual Report and Financial Statements 2021–2022

Strengthen our organisation

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PILLAR THREE
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Our third pillar is all about strengthening our organisation. Our charity now employs almost 200 staff, we have volunteers and staff located right across the UK, grant income has risen and we are supporting more and more programmes and groups to cycle. With that growth, we recognise that it’s imperative to make sure that the processes and systems that support what we do are robust and can scale with us as we grow. This year we have made significant investment in our IT, governance and HR systems to ensure members receive the best experience and we equip our teams to deliver remotely and digitally.

Our greatest asset is our staff. It’s why we’re investing in their welfare and exploring opportunities to make sure we as a charity can represent the diversity we want to see in cycling. All this is helping us to be the resilient, representative and responsive charity needed to make a positive difference in today’s society.

Cycling UK Annual Report and Financial Statements 2021–2022 Page 20

Strengthen our organisation

Annual Report 2021–2022 Cyclists’ Touring Club operating as Cycling UK

The growth in delivery of our programmes and services to members and beneficiaries following the Covid pandemic would not have been possible if we had not also ensured that the organisation was able to flex and respond to these challenges. During the 2021–2022 financial year we have therefore continued to invest in vital back-office services and infrastructure to create a more efficient and effective organisation.

Digital strategy implementation

People strategy

Governance

Insurance review

We conducted a comprehensive review of both our corporate and commercial insurance requirements during the year, including a full retender exercise of our main public liability insurance risk in order to benchmark both the cover and value for money. This resulted in a more competitive package of insurance and established a more commercially focused partnership with our insurance brokers.

Diversity and inclusion

Last year Cycling UK published its equality, diversity, and inclusion commitment.

As the UK cycling charity, we want people regardless of age, wealth, sexuality, background and ability to be able to cycle safely, easily, and enjoyably. We’ve championed this cause for more than 140 years. We welcome all forms of cycling, protect the interests of existing and would-be cyclists, and inspire diverse communities across the United Kingdom to discover the joys of cycling.

We truly believe cycling is for all.

Increasing equality, diversity, and inclusion in cycling

When we developed our current strategy, we recognised that the profile of the cycling public in the UK is skewed towards certain demographics. Where data exists, the research shows that people from ethnically diverse backgrounds, women and people with disabilities are significantly less likely to cycle.

Our strategy to inspire a million more people to cycle is not just targeted at a million more of the current cycling audience. Our campaigning,

Page 21 Cycling UK Annual Report and Financial Statements 2021–2022

engagement, volunteering, and behaviour change programmes are intended to inspire and support a cycling population that more closely reflects the diverse make-up of the UK. We do this by reaching out to understand all communities better, by listening and learning and by adapting our programmes to address their specific barriers.

Our behaviour change projects work succeeds in bringing cycling to less-advantaged communities across England and Scotland. As the UK’s cycling charity, we use our voice to tackle the perceptions of cycling in the media, society and in decision makers, to make cycling inviting for all.

We aim to be a champion for diversity and inclusion in our sector. We are determined that cycling in the UK means cycling is enjoyed by everybody, regardless of culture, race, religion, gender identification, age, sexual orientation, or ability. We recognise that this a big challenge shared by others and we work in collaboration with partners across the active travel and sport and leisure community to make this change a reality.

In the last year we have

Leadership

Embed D&I in our refreshed strategy

D&I task group established, led by CEO

Trustee recruitment improved to reduce risk of bias.

Training

Increasing equality, diversity, and inclusion within Cycling UK

The staff and trustees at Cycling UK are passionate about ensuring that we have an inclusive culture which welcomes staff, volunteers, trustees and members from all backgrounds. We want to do all that we can to ensure that our team and our work is as inclusive as it can be.

For staff, volunteers, members and beneficiaries our commitment is that:

Recruitment and HR

Family leave entitlement improved

Inclusive cycling

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Cycling UK Annual Report and Financial Statements 2021–2022

Annual Report 2021–2022 Cyclists’ Touring Club operating as Cycling UK

Strengthen our organisation

Affiliate and member groups

We support a network of member and affiliate groups who put on regular rides and events and help us deliver on our mission to enable millions more people to cycle. In 2021, we continued to assist our groups in getting back to regular rides and arranging events again, interpreting the Covid rules into guidance, resources and training for each nation.

5000

dedicated group volunteers arranged more than 30,000 rides and events last year

Reward and recognition

Cycling UK’s Going the Extra Mile award scheme acknowledges the incredible contribution made by volunteers to our mission to enable millions more people to cycle. We have launched the Cycling UK Roll of Honour, which lists anyone receiving an award or certificate from us. New since last year is also the Going the Extra Mile badge for volunteers.

A total of 35 volunteers and voluntary groups received a certificate or award in 2021. Their achievements were highlighted at our Volunteer Celebration event, which engaged with a wide range of roles and groups.

Member groups

Chair of Coventry CTC Bob Tinley receives a Certificate of Appreciation and a Going the Extra Mile trophy from Cycling UK CEO Sarah Mitchell at the group’s centenary dinner

Our member groups have nearly 3000 volunteers who help arrange rides and events by taking on between them 4200 volunteering roles.

To support member groups, we have changed the welfare officer role to become safeguarding officer, which clarifies and underlines the importance of the safeguarding element.

We have continued to offer digital solutions such as:

Page 23 Cycling UK Annual Report and Financial Statements 2021–2022

Our volunteers

850

Our network of committed volunteers supports Cycling UK departments and projects in organising activities that help people to ride and speak up for cycling. Despite the impact of Covid, there was an increase in the number of volunteers directly supporting Cycling UK last year.

volunteers supported Cycling UK projects

cycling officer and corresponds with the leader of the county council, in particular with regard to their Transport Strategy.

Our Cycle Advocacy Network has 260 engaged local campaigners based all over the UK and a further 261 people engaged with the network. These volunteers represent Cycling UK on local or regional groups and bodies.

Our more than 500 enthusiastic Pumped Up micro volunteers help us promote cycling and Cycling UK’s activities. Last year, they spent at least 700 hours on these tasks, for example Ian helped promote the changes to the Highway Code, including going on local BBC radio to discuss them, and promoting them on social media, while Jo displayed images in her workplace and talked about the new rules with her family and friends to make them aware.

Rachael joined the Cycle Advocacy Network as a local representative in March 2021. Her aim is to improve the links between villages in her district of Leicestershire. Starting from scratch, she has built a social media presence, presented to the parish council, lobbied shopkeepers for safer cycle parking, made friends with the district council’s

He said that there is little funding for cycling and active travel, but I pointed out that it isn’t just about money – the council can do more to set the tone of the conversation. Cycling is about transportation. He has agreed to make sure that any photos and images the council uses in their communications reflect ‘everyday’ cyclists, not racers. Small step!

Rachael Wiggington, CAN representative

Cycling UK Annual Report and Financial Statements 2021–2022 Page 24

Strengthen our organisation

Annual Report 2021–2022 Cyclists’ Touring Club operating as Cycling UK

Photos by volunteer photographer Simon Davey

The amazing volunteers who help as ride and health walk leaders for the Bothies and Rural Connections are an integral part of the offer across 12 communities in Scotland. (See project description, pages 11 and 12).

In all, Cycling UK has around 60 ride and walk leaders who volunteer for the Bothies and Rural Connections projects in Scotland.

Cycling UK’s volunteer photographers have continued to prove themselves invaluable in providing the beautiful imagery of diverse cyclists that we have used in our digital communications and print media.

Walking in groups, within the coronavirus guidelines, has helped people feel much less isolated. It gives people time outdoors to connect with others and with nature, which is great for mental health. It has also allowed people to stay active, which is essential when other indoor activities were unable to continue during lockdown. The walkers and walk leaders all look forward to the walks, and the time chatting and building friendships and connections seems as equally as important as the walk

Morag Ferguson, walk leader

How do we support volunteers?

The volunteer team provides support to staff who manage volunteers in their departments and projects. Processes and systems are continuously reviewed to make sure there is consistency in all parts of the volunteer journey, such as recruitment and training. The team also continues to create new roles according to demand, for example moderators for our off-road trail Facebook groups, such as the West Kernow Way.

Page 25 Cycling UK Annual Report and Financial Statements 2021–2022

Build sustainable membership

PILLAR FOUR

Our fourth pillar is all about our members. We recognise that our members are at the heart of allowing us to get millions more people cycling. Continuing to build our membership is critical to helping to secure our income for the coming years. Our members are also a valuable voice, lending much-needed support to our campaigning and influencing work.

Cycling UK Annual Report and Financial Statements 2021–2022 Page 26

Build sustainable membership

Annual Report 2021–2022 Cyclists’ Touring Club operating as Cycling UK

Membership is at the heart of our work at Cycling UK. Our 70,000 members support our work through their engagement with campaigning, groups, events and more, and they fund our mission to get millions more people cycling through their subscriptions.

Every day our membership team talk to members old and new. We love to hear stories of our members’ rides, whether it’s an epic touring adventure or a trip to the park with the family; road, off-road or anything in between, cycling is for everyone and so is our membership.

Over the last year we have supported members with legal and insurance matters, new routes, advice and support for those new to cycling and engaging offers for both new and experienced riders.

£1,171,277

won on behalf of our members

190

new legal cases taken on behalf of our members through our Accident line

We have also looked at what members and supporters want from us and how we can support the whole cycling community. In the last year we have reviewed all our major commercial relationships to ensure that members are receiving the best possible value for money and top quality service.

We are developing new ways to take our work closer to local communities, to engage members with the issues that matter to them, and to make our membership inclusive, welcoming and engaging for all.

Shoreham: the battle for Britain’s cycle lanes

Our Cyclists’ Defence Fund (CDF) is an essential tool that helps us campaign on issues which will leave a lasting difference on cycling as we know it in the UK.

Since February 2021, through the CDF, Cycling UK had challenged West Sussex County Council’s illegal decision to remove a popular cycle lane in Shoreham introduced during the pandemic.

While the battle was ostensibly about a stretch of cycling infrastructure in the south-east of England, the repercussions had we not challenged this decision would have impacted across the country. We wanted to show councils could not get away with removing cycle lanes while ignoring government guidance.

Thanks to the generosity of our members and the wider cycling community we raised enough funding to take the council’s decision to judicial review.

West Sussex CC settled out of court in January 2022 and ended up paying £25k in costs to Cycling UK. The real victory, however, was demonstrating there are repercussions for councils which ignore government guidance and remove cycle lanes illegally.

Page 27 Cycling UK Annual Report and Financial Statements 2021–2022

Income generation

Thanks to our member benefit partners, we introduced more offers and discounts than ever before with brands such as Enterprise Car Club, Caravan and Motorhome Club, Yellow Jersey and Pedal Cover bicycle and home insurance. We also teamed up with Stolen Goat on an exciting new range of cycling kit in heritage and modern designs.

70,260

members in total

906

groups in total

Build sustainable membership

Annual Report 2021–2022 Cyclists’ Touring Club operating as Cycling UK

Fundraising

Our fundraising activities are a vital income stream to help support our work around enabling cycling for all and speaking up for cyclists.

Thank you to everyone who played our two raffles this year to help raise £55k. 85% of the income came directly back to the charity.

The level of generosity in supporting our Cyclists’ Defence Fund has been phenomenal, with many donors and members giving in the hundreds, and even thousands, of pounds.

Seeing more of our supporters choose to donate to Cycling UK when taking part in charity events or challenges, or when remembering loved ones, is a wonderful sign that we are really making a difference to those who currently cycle, and to cyclists of the future.

£60k

was raised in 2021– 2022 by our Cyclists’ Defence Fund

£55k

was raised from our summer and winter raffles

Page 29 Cycling UK Annual Report and Financial Statements 2021–2022

Our planned activities for 2022–2023

Enable millions more to cycle

Enable cycling for all

Speak up for all who cycle

Strengthen our organisation

Build sustainable membership

Big Bike Revival Bothys Community Cycle Clubs Cycle for Health e-cycles programme EXPERIENCE Play Together on Pedals Rural Connections Scotland Cycle Repair Scheme Shift

Communicating the Highway Code

Cycle Advocacy Network (CAN) Election campaign Local transport policy Off-road access

Road safety, including road traffic law Traffic reduction Cycling and rail travel

Brand management Digital review Diversity and inclusion Dynamics CRM system Finance systems HR systems Mapping project Marketing systems Volunteering training Website upgrade

Corporate sponsorship Fundraising

Insurance products Major Donor programme Membership acquisition and retention

Member benefits Membership review project Workplaces and Cycle Friendly Employer accreditation

Mutually reinforcing

Cycling UK Annual Report and Financial Statements 2021–2022 Page 30

Annual Report 2021–2022 Cyclists’ Touring Club operating as Cycling UK

Financial summary

Financial review

During the year to March 2022 we continued to see improvements in the financial position of the organisation as we moved beyond the global coronavirus pandemic. The period of the financial statements covered by this annual report includes the 12 months from 1 April 2021 to 31 March 2022. In the prior period we extended our accounting reference date which means the financial statements are not directly comparable between the 2021–2022 financial year and the 18-month period from 1 October 2019 to 31 March 2021.

In the year to 31 March 2022 our total income was £9.93m and our total expenditure was £9.78m. Our total consolidated funds increased to £5.83m, split between £0.17m restricted funds and £5.66m unrestricted (designated and general). Our total annual income has increased in each of the last five years and we have and expect to see continued growth in income and expenditure in line with our five-year strategy and expansion of the organisation. For comparison, on a pro-rated basis, income in the prior financial year would have been equivalent to £7.9m and pro-rated expenditure would have been equivalent to £8.3m. Compared to our 2021–2022 financial performance we have seen growth of 26% income and 18% expenditure in the year to 31 March 2022.

During the year, as we continued to expand our programme delivery through our behaviour change work, we secured further funds from statutory funders including the Department for Transport and Transport Scotland and additional funding from Sport England. While we benefited from increased income in some areas, the ongoing impacts of the pandemic were realised in other unrestricted income streams including a reduction in advertising income, slower take up than expected in our employer membership offer, reduced commission income from retail partners and significantly reduced cycle holiday activity through our holidays and tours subsidiary. We did, however, continue our planned investment in organisational infrastructure through investment in a new customer relationship management system, wider systems and processes and our staff team to support the scaling and development of the organisation to deliver against our strategic ambitions and five-year strategy. Overall this resulted in a budgeted operating surplus of £0.16m.

Our work is funded by a mixture of membership fees, contract and grant income, retail income and donations and individual giving. Membership fluctuated during the year to around 70,750 at its highest point, ending the year at around 70,500. Our members continue to gain from our wide range of benefits and we are continuing to expand this offer as well as creating more tailored content and bespoke communications through our digital transformation.

Total membership income was equivalent to £2.69m in the year. We constantly review our membership rates to ensure we offer excellent value for money and to safeguard the sustainability of the charity. During the year we continued our membership transformation with the conclusion of the migration of senior members to other categories of membership. Some rates increased by inflation while others increased as part of our aspiration to align pricing based on ability to pay rather than age. These changes and the unrestricted income provided from membership fees are essential to enable us to carry on activities such as our vital campaigning work to improve cycling conditions for everyone.

----- Start of picture text -----
2021–2022 2019–2021 Change []
£m £m £m
Income [*] £9.93 £11.80 (£1.87)
Expenditure £9.78 £12.44 (£2.66)
Surplus/(Deficit) £0.16 (£0.58) £0.75
Total charity funds £5.83 £5.67 £0.16
----- End of picture text -----**

*Adjusted for unrealised gains on investment

**Figures are not totally comparable due to extension of accounting period

During 2021–2022 the provision of additional restricted funds saw significant increases in expenditure on behaviour change programmes as we continued to help millions more people to cycle. Our expenditure on membership services continued to increase as did expenditure on fundraising and campaigning activities, in line with planned investment to deliver our strategic objectives of growing and diversifying our income and extending our reach and impact.

Page 31 Cycling UK Annual Report and Financial Statements 2021–2022

The ongoing impacts of the pandemic and delays or postponement of activity reduced expenditure in some areas including through the provision of holidays and touring activity. CTC Cycling Holidays and Tours continued to trade to October 2021 and to this point incurred an operating deficit of £18,000. Therefore, in the face of a difficult trading environment and falling demand the Board of Trustees and Directors of CTC Cycling Holidays and Tours took the difficult decision to place the company into Members’ Voluntary Liquidation on 6 December 2021. The assets remaining of approximately £315,000 are anticipated to be distributed to the parent company during the third quarter of 2022.

Despite the difficult economic outlook, the strong reserve position and plans to continue to grow and diversify income whilst also improving the efficiency and operation of the organisation, alongside detailed scenario plans mean the trustees consider that the charity is well placed to continue its operations and have adequate resources in place to operate within our reserves policy. Accordingly, they consider the going concern basis remains the appropriate basis on which to prepare the annual report and financial statements.

Future plans

Our strategy refresh published in 2021 sets out a clear vision for how we intend to get a million more people cycling before the end of our strategic period. As we emerge from the coronavirus pandemic we believe we are well placed as an organisation to continue to champion the benefits of cycling. We expect the wider economic context of increasing inflation and energy costs to have an impact on our cost base and lead to rising expenditure on salaries and some supplier costs. However, we have also been able to negotiate revised supplier relationships; for example in our insurance provision to members and efficiencies arising from our CRM implementation that will help reduce costs in other areas. In addition we expect our income from membership to grow and with the provision of the national e-cycle programme pilot scheme for delivery in 2022/23 we expect a significant increase in the scale and income and expenditure of the organisation which we forecast to result in a surplus for the year ahead of over £500,000.

The year ahead is forecast to include:

Funds

Total funds at 31 March 2022 were £5,831,158 (2019–2021 – £5,670,317).

Restricted funds, provided for a particular purpose and therefore not available for general use by the charity, totalled £170,981 (2019–2021 – £158,474).

Designated funds comprise our premises sinking fund, Cyclists’ Defence Fund, life membership fund and legal advice scheme fund. At the balance sheet date these totalled £568,601.

After making an allowance for restricted funds, the amount of designations and the carrying value of tangible fixed assets held by the charity, the group’s unrestricted general funds at 31 March 2022 were £3,375,963.

We are confident therefore that post pandemic and with our refreshed strategy and increasing organisational scale we are well placed to deliver a surplus in 2022–2023.

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Reserves policy

Reserves are defined as income funds of the group that are freely available to spend. Cycling UK requires these reserves to:

The required reserves are calculated and assessed according to an overall risk profile, and in doing so all major sources of income and known long-term expenditure requirements are reviewed. The total value of these risks is then compared to the total value of reserves held. The reserves held are calculated based on the ‘general funds’ amount available to the charity, less the ‘fixed assets’ figure, since these fixed assets are required for the functional operation of the charity.

The current level of reserves required on the basis of this calculation is £2.1m. At the balance sheet date the charity held reserves of £2.9m. The trustees consider it appropriate to hold a higher level of unrestricted reserves at this time due to the ongoing economic uncertainty arising from increased inflation, energy prices and the wider macro-economic position post Brexit and post pandemic. In addition, the organisation is on a growth trajectory and the trustees therefore consider it appropriate to retain higher reserves to support ongoing investment in the organisation in support of sustained and geared growth as we begin planning for the next strategy period.

An amount equivalent to restricted funds and working capital is managed as short-term reserves. The remaining level is held as long-term reserves, and the approach to managing these reserves is set out in Cycling UK’s ethical investment policy.

The level of reserves and their make-up is monitored by the Finance and Performance Committee on a quarterly basis and the Board reviews the reserves policy annually in line with the annual budgeting process.

Investment policy

During the year we have continued to implement our ethical investment policy agreed with the Board in 2021 which has resulted in the transfer of further assets to our long-term investments held with Rathbones Green Bank. Cycling UK’s policy is to invest in assets and companies which demonstrate a positive commitment to the ethical indicators identified by the Board and excludes those companies or sectors which negatively align with our objects and ethical criteria.

Based on this policy and a review of cash balances and liquidity requirements, the Board’s objective is for the investment of long-term reserves in a variety of asset classes held with Rathbones Green Bank to support the objective of long-term capital growth.

During the year investments grew to £1,063,960 following the transfer of additional cash assets to the portfolio but unrealised gain on these investments reduced by £43,746 to 31 March 2022 due to the prevailing market conditions.

Page 33 Cycling UK Annual Report and Financial Statements 2021–2022

Governance summary

Cycling UK is governed by its Board of trustees operating under the terms of the Articles of Association. Trustees must be members and the majority are appointed by election by the membership. Cycling UK is committed to widening participation and inclusion in its governance, and its nominations process is intended to ensure all members of the Board have the essential skills, knowledge and experience to contribute effectively to the governance of the charity. During the year, in line with plans to improve the culture of inclusivity and capability across the organisation, the Board completed a skills audit to identify the future skills requirements needed to support the Board. It considered further how to ensure the representation on the Board is inclusive of diverse experience and backgrounds with plans to develop the Board further in 2022/23 with further co-opted appointments.

Following election by the members, trustees are appointed for an initial term of three years. At the end of this term trustees may stand for re-election and can be re-elected at the end of every three-year term for a period not exceeding nine years. During the year the trustees appointed a co-opted trustee to fill an identified skills gap on the Audit and Governance Committee, and in line with best practice for the sector appointed an independent non-trustee member to the Audit and Governance Committee to provide additional advice and expertise. Co-opted trustees are appointed by the Board for a period of one year and reappointed annually for a period not exceeding nine years.

A list of trustees who held office during the period can be found in the Legal and Administrative information section of this report listed on page 65.

A comprehensive induction is provided to all new trustees and the Board meets four times a year, to review strategy and performance, approve annual budgets and agree strategic plans, advised by the CEO and Senior Leadership Team. Sub-committees of the Board form the Finance and Performance, Audit and Governance, People and Culture and Nominations committees. These committees enable trustees to have more detailed engagement and oversight of the principal activities of the organisation. Each of these is chaired by a Board Member but involve a mix of staff and trustees.

During the year we also sought to make simplifications to the structure of the group companies. Dormant subsidiary companies including Cyclists’ Touring Club (Sales) Ltd, CTC (Cycle Racing) Ltd and CTC Charitable Trust were struck off the register of companies. In addition and following the Board’s decision that CTC Cycling Holidays and Tours Ltd should cease trading following increased cost of sales, falling demand and changes in customer expectations, the Board appointed Smith and Williamson to lead the member voluntary liquidation of the company. Cycling UK therefore retains six subsidiary companies, the accounts of which are consolidated into the group accounts of Cycling UK.

Code of governance

During the year, the Board of trustees continued to review and monitor, via its Audit and Governance Committee our compliance with the updated Charity Governance Code and the extent to which its policies and processes demonstrated our application of the Code’s principles. The trustees consider that Cycling UK’s compliance with the Code is high, demonstrating evidence of application of over 75% of the principles. The review identified 20 principles where further action or continuous improvement was needed, relating particularly to diversity and inclusion. The Board, supported by its People and Culture Committee and the Senior Leadership Team, is continuing to review how the processes and culture of the organisation can be developed further in this area with planned developments in 2022/23.

Management

The Board of trustees is legally responsible for the strategic direction of the charity including approving the annual plan and budget. The Board monitors risk and progress against these plans and budgets and it makes decisions about the appointment of senior staff.

Lead trustees are appointed to oversee key areas of work as needed.

Day-to-day operation of the organisation is delegated to the chief executive, Sarah Mitchell, and the Senior Leadership Team.

Remuneration

Cycling UK aims to ensure that all members of staff are paid appropriately according to the nature of their work and experience, the function and skills requirements of their role and in line with our organisational pay strategy and pay band structure, and aims to pay at the median level for roles when benchmarked against the market rate for the sector.

Responsibility for setting the pay of senior managers is delegated to the People and Culture Committee. This is reviewed annually and seeks to offer a total benefit package which is intended to attract and retain management of the quality required to run the charity successfully and sustainably and to support the long-term strategy and purpose of the charity. No senior manager is involved in decisions relating to their own remuneration.

Gender pay gap

Although Cycling UK employs fewer than 250 staff and is therefore not required by law to disclose gender pay gap information, we consider it good practice to be transparent and to do so. At March 2022 the charity’s overall median

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Cyclists’ Touring Club operating as Cycling UK

gender pay gap was 12% compared to a national average of 15.4%[1] in 2021. We continue to monitor and review pay levels and the application of our pay strategy to ensure there is no gender bias and will continue to consider ways to reduce this alongside our wider diversity and inclusion policies and activities to make sure our policies and practices are fair.

Risk management

The Audit and Governance Committee has responsibility for oversight and review of the risk management policy and process, and reviews the strategic risk register on a quarterly basis along with progress to mitigate key risks. The Board reviews the risk register on an annual basis following reports by the committee.

The Senior Leadership Team is responsible for the strategic risk register, reviewing the significant operational and organisational risks on a regular basis, and ensuring that appropriate internal controls and actions are in place and aimed at mitigating risks.

The strategic risk register considers the impact and likelihood of the risks, alongside the organisation’s risk appetite and the velocity with which the risk could escalate, which supports an overall ranking of risks. Ownership of the risks is assigned to a member of the Senior Leadership Team who is accountable for ensuring controls, policies and procedures are implemented and improved.

These policies and procedures include the effectiveness of internal control measures and policies relating to safeguarding, whistleblowing, health and safety and complaints.

Principal risks and uncertainties

The charity considers its principal risks at this time to be:

1. Economic downturn

The worsening macro economic environment and related impact on cost of living, prices and other economic pressures creates a risk to the organisation’s ability to deliver effectively. Inflation and price rises increase our cost base and cost of delivery, either directly with suppliers or indirectly through our ability to maintain an appropriately sized and skilled workforce, all of which could combine to reduce our impact and effectiveness in delivery of support and services to members and beneficiaries. In addition to potential impacts to our cost base we know that members, supporters and wider stakeholders who provide valuable sources of income to the organisation are also feeling the effects of the economic downturn. This therefore has the risk of reducing our income streams which would further limit our ability to deliver our strategic objectives. To mitigate these risks the Board and Senior Leadership Team

1 Latest data available for 2021 from ONS Annual Survey of Hours and Earnings, 2021

alongside agreeing to currently maintain a higher level of reserves to offset these pressures should they arise have also undertaken detailed scenario planning to identify available options to reduce costs or find alternative income sources should these actions be required.

2. Cyber threat and data security

As the scale of the charity continues to grow and in light of the ongoing geo-political uncertainty we are aware that we face increasing threat and challenges in relation to cyber-crime and data protection, and that there is an increased risk to the organisation from failure to manage our data, information systems and processes effectively and compliantly. Any crystallisation of this risk could lead to loss of data, an inability to deliver services and ultimately reputational impact and damage for the organisation as well as possible regulatory noncompliance and fines. During the year we have continued to review our IT security policies and procedures, implementing several enhancements which will be ongoing during 2022–2023. We continue to ensure the best possible standards of data management to ensure all staff, (who are required to undertake mandatory data protection and IT security training during induction and on an annual basis thereafter) create a privacy led culture across the organisation. We will continue to review this area of the organisation during 2022–2023.

3. Active Travel Sector

The Active travel landscape is uncertain at present with an upcoming change of Conservative leadership and an unsettled political situation. There is a risk that a new government may not see through current commitments to active travel and net zero strategy. We could see reduced treasury spending due to tax cuts, which in turn could reduce funding for active travel.

4. Organisational growth

Following the growth of cycling in response to the Covid pandemic Cycling UK has seen rapid expansion and increased funding for many of our programmes and services as demand for cycling and active travel have increased. Whilst this has enabled the organisation to scale its impact reaching many more members, beneficiaries and supporters it has also required the organisation to keep pace with this rapid expansion and increases to income and expenditure. In a number of cases funding from statutory sources is short term and in the absence of multi-year funding this creates a risk for the organisation to manage to ensure we scale sustainably and in a way which does not impair the delivery of key services or our charitable aims. The organisation is mitigating this risk with clear and targeted investment plans to ensure the organisation is prepared and has the agility to respond to these opportunities whilst doing so in a geared and sustainable way, supported by a range of scenario plans which include planning for both ongoing measured growth or scaling back in some areas whilst not putting our core service delivery at risk.

Page 35 Cycling UK Annual Report and Financial Statements 2021–2022

Fundraising

Cycling UK is registered with the Fundraising Regulator and is committed to adhering to the highest standards of fundraising practice. Our fundraising activity is led by our director of income generation who is responsible for ensuring that all fundraising aligns with the standards in the code of Fundraising Practice. All of our policies and procedures are regularly reviewed for compliance with the code. Several staff are members of the Institute of Fundraising and attend regular events to ensure continuous professional development and up-to-date knowledge of fundraising practice.

In this period we recruited an experienced fundraising manager. This role is responsible for individual giving activity across legacy fundraising, appeals, raffles, regular giving and donations, drawing on the support and experience of the wider income generation team.

Our fundraising is managed in-house but we have also used the services of two specialist external agencies: Prospecting for Gold to carry out donor prospect research; and QTS Fundraising to train and advise our internal staff, and to support with Gift Aid and membership renewal telephone campaigns. Both are reputable and highly experienced fundraising organisations which adhere to the strictest regulations, compliance requirements and quality standards. We also used the services of a professional fundraising consultant to support specific trusts and foundation research. For all external suppliers, a rigorous contract was put in place to ensure compliance with the code and relevant standards.

The majority of our fundraising activity and unrestricted income comes from our own membership and supporter base with minimal promotion outside of Cycling UK contacts. We have been a membership organisation for over 140 years so are highly experienced and understanding of our members’ needs and interests. We have an in-house membership and supporter care team which communicates with members and supporters daily. We ensure that both our staff and our contracted professional fundraisers protect vulnerable people and others from unreasonable intrusion on a person’s privacy, unreasonably persistent approaches or undue pressure to give.

Our direct communication channels used for fundraising are email and mail. We also raise funds through payroll giving and various certified third-party platforms such as JustGiving, AmazonSmile, easyfundraising, Ebay and Giveacar.

Across all our fundraising-specific activity, including two appeals and two raffles where each individual communication was sent to up to 90,000 members and supporters, we received a total of 16 complaints directly to Cycling UK.

Public benefit statement

The Board continuously reviews the activities of Cycling UK against its charitable objectives and its strategic vision. The Board is satisfied that all activities are related to these objectives. No specific issues to the detriment of these objectives have been identified.

The trustees have referred to the guidance provided by the Charity Commission for England and Wales and the Office of the Scottish Charity Regulator on meeting the Charity Test. This guidance explains how a charity should demonstrate a link between its charitable aims and the benefits it provides to the public. The trustees have considered this guidance in preparing the review of activities and future plans.

The Board can demonstrate that promoting cycling for individuals, groups and communities contributes to the conservation and protection of the environment, the health and safety of the public, community participation in healthy recreation and amateur sports and social welfare. It provides a programme of education to support these activities.

There are no barriers to the public benefitting from the work of Cycling UK as most cyclists in the UK are not Cycling UK members but benefit from the improvements in road safety and other benefits arising from the charity’s promotional, campaigning and advocacy work for the public.

Membership of Cycling UK is open to everyone who supports our aims and we have a substantial range of discounted membership offers to allow those of limited means to join. Delivery of most services is free at the point of delivery to the public. Membership subscriptions are an effective form of fundraising, providing resources for the delivery of these public benefits.

We can demonstrate that membership is an effective means of achieving our charitable objects. Our group membership activities and events are particularly valuable in overcoming many potential cyclists’ barriers to healthy, low-cost recreation or transport. Members provide most of our voluntary resource, one of the largest groups of people supporting cycling for the public in the UK. Collectively they provide an extensive programme of cycle rides, they provide the information that we disseminate through our engagement activities, they deliver our local advocacy and they provide the weight of numbers that enables us to promote cycling to governments and other public bodies.

Our research shows that members’ reasons for supporting Cycling UK’s work reflect the public benefit in our objects. Research has confirmed that they support Cycling UK because: we protect cyclists through campaigning and by supporting cyclists who may have been involved in incidents on the road; inspire and support them and other cyclists to do more cycling; promote cycling to the public, public bodies, the media and other bodies that need to be encouraged to promote cycling and the benefits of cycling.

Cycling UK Annual Report and Financial Statements 2021–2022 Page 36

Annual Report 2021–2022 Cyclists’ Touring Club operating as Cycling UK

Statement of trustees’ responsibilities

The trustees (who are also directors of Cyclists’ Touring Club for the purposes of company law) are responsible for preparing the trustees’ report (incorporating the strategic report) and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The report has been prepared in accordance with Part 8 of the Charities Act 2011 and constitutes the directors report and strategic report for the purposes of the Companies Act 2006.

The financial statements have been prepared in accordance with the accounting policies set out below and comply with the articles of association, applicable laws and 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).

Company law requires the trustees to 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 group and of the incoming resources and application of resources, including the income and expenditure, of the group for that period.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Each of the trustees confirms that:

This confirmation is given and should be interpreted in accordance with the provisions of s418 of the Companies Act 2006.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the UK governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Dr Janet Atherton OBE chair of trustees

Page 37 Cycling UK Annual Report and Financial Statements 2021–2022

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Annual Report 2021–2022

Cyclists’ Touring Club operating as Cycling UK

Independent auditor’s report to the trustees and members of Cyclists’ Touring Club

Opinion

We have audited the financial statements of Cyclists’ Touring Club (the ‘charitable parent company’) and its subsidiaries (the ‘group’) for the year ended 31 March 2022 which comprise the consolidated and charitable parent company statement of financial activities, the consolidated and charitable parent company balance sheets, consolidated statement of cash flows, the principal accounting policies and the notes to the financial statements. The financial 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 Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group and parent charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report and financial statements, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, n doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Page 39 Cycling UK Annual Report and Financial Statements 2021–2022

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the charitable parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report including the strategic report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 (as amended) requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group’s and the parent charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charity or to cease operations, or have no realistic alternative but to do so.

Cycling UK Annual Report and Financial Statements 2021–2022 Page 40

Annual Report 2021–2022

Cyclists’ Touring Club operating as Cycling UK

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We assessed the susceptibility of the charitable company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at frc.org.uk/auditorsresponsibilities . This description forms part of our auditor’s report.

Page 41 Cycling UK Annual Report and Financial Statements 2021–2022

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and to the charity’s trustees as a body, in accordance with Section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Edward Finch (Senior Statutory Auditor) For and on behalf of Buzzacott LLP, Statutory Auditor 130 Wood Street London EC2V 6DL

Buzzacott LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

Cycling UK Annual Report and Financial Statements 2021–2022 Page 42

Annual Report 2021–2022

Cyclists’ Touring Club operating as Cycling UK

Consolidated statement of financial activities

Year ended 31 March 2022 (including income and expenditure account)

----- Start of picture text -----
Year ended 1 October
31 March 2019 to
Unrestricted Restricted 2022 Unrestricted Restricted 31 March
funds funds funds funds funds 2021 funds
Notes £ £ £ £ £ £
Income from:
Donations and legacies 1 121,849 – 121,849 597,920 – 597,920
Income from charitable activities:
• Membership 2,685,516 – 2,685,516 3,548,304 – 3,548,304
• Grants – 6,103,529 6,103,529 – 6,417,846 6,417,846
• Sales and services provided 27,354 418,758 446,112 131,179 200,801 331,980
• Cycling holidays (discontinued) 16 90,843 – 90,843 320,496 – 320,496
• Other income 122,626 – 122,626 210,431 – 210,431
2,926,339 6,522,287 9,448,626 4,210,410 6,618,647 10,829,057
Other trading activities
• Trading income 337,000 – 337,000 343,986 – 343,986
• Investment income and interest 18,272 – 18,272 20,902 – 20,902
Total income 3,403,460 6,522,287 9,925,747 5,173,218 6,618,647 11,791,865
Expenditure on:
• Raising funds 331,651 – 331,651 504,294 – 504,294
Expenditure on charitable activities:
• Enable cycling for all 3 104,878 6,256,395 6,361,273 288,673 6,644,915 6,933,588
• Speak up for all who cycle 628,344 74,535 702,879 950,073 46,755 996,828
– –
• Strengthen our organisation 761,691 761,691 2,125,228 2,125,228
– –
• Build sustainable membership 1,512,126 1,512,126 1,418,763 1,418,763
• Cycling holidays (discontinued) 16 108,502 – 108,502 456,314 – 456,314
3,115,541 6,330,930 9,446,471 5,239,051 6,691,670 11,930,721
Total expenditure 3,447,192 6,330,930 9,778,122 5,743,345 6,691,670 12,435,015
Net (expenditure)/income before (43,732) 191,357 147,625 (570,127) (73,023) (643,150)
gains on investment
Unrealised gain on investments 13,216 – 13,216 56,962 – 56,962
Net (expenditure)/income (30,516) 191,357 160,841 (513,165) (73,023) (586,188)
Transfers between funds 178,850 (178,850) – – – –
Net movement in funds 148,334 12,507 160,841 (513,165) (73,023) (586,188)
Reconciliation of funds:
Total funds brought forward 12 5,511,843 158,474 5,670,317 6,025,008 231,497 6,256,505
Total funds carried forward 5,660,177 170,981 5,831,158 5,511,843 158,474 5,670,317
----- End of picture text -----

Page 43 Cycling UK Annual Report and Financial Statements 2021–2022

Charitable parent company statement of financial activities

Year ended 31 March 2022 (including income and expenditure account)

----- Start of picture text -----
1 October
Year ended 2019 to
31 March 31 March
Unrestricted Restricted 2022 Unrestricted Restricted 2021
funds funds funds funds funds funds
Notes £ £ £ £ £ £
Income from:
Donations and legacies 1 121,849 – 121,849 597,920 – 597,920
Income from charitable activities:
• Membership 3,009,574 – 3,009,574 3,601,264 – 3,601,264
• Grants – 6,103,529 6,103,529 – 6,417,846 6,417,846
• Sales and services provided 27,354 418,758 446,112 131,181 200,801 331,982
• Other income 152,626 – 152,626 210,431 – 210,431
3,189,554 6,522,287 9,711,841 3,942,876 6,618,647 10,561,523
Other trading activities
• Trading income 337,000 – 337,000 343,986 – 343,986
• Investment income and interest 18,272 – 18,272 20,902 – 20,902
Total income 3,666,675 6,522,287 10,188,962 4,905,684 6,618,647 11,524,331
Expenditure on:
• Raising funds 331,651 – 331,651 504,294 – 504,294
Expenditure on charitable activities:
• Enable cycling for all 3 104,878 6,256,395 6,361,273 285,584 6,644,915 6,930,499
• Speak up for all who cycle 628,344 74,535 702,879 950,073 46,755 996,828
• Strengthen our organisation 761,691 – 761,691 2,130,361 – 2,130,361
• Build sustainable membership 1,508,314 – 1,508,314 1,417,564 – 1,417,564
3,003,227 6,330,930 9,334,157 4,783,582 6,691,670 11,475,252
Total expenditure 3,334,878 6,330,930 9,665,808 5,287,876 6,691,670 11,979,546
Net (expenditure)/income 331,797 191,357 523,154 (382,192) (73,023) (455,215)
before gains on investment
Unrealised gain on investments 13,216 – 13,216 56,962 – 56,962
Net (expenditure)/income 345,013 191,357 536,370 (325,230) (73,023) (398,253)
Transfers between funds 178,850 (178,850) – – – –
Net movement in funds 523,863 12,507 536,370 (325,230) (73,023) (398,523)
Reconciliation of funds:
Total funds brought forward 12 4,736,631 158,474 4,895,105 5,061,861 231,497 5,293,358
Total funds carried forward 5,260,494 170,981 5,431,475 4,736,631 158,474 4,895,105
----- End of picture text -----

Page 44

Cycling UK Annual Report and Financial Statements 2021–2022

Annual Report 2021–2022

Cyclists’ Touring Club operating as Cycling UK

Consolidated balance sheet

Year ended 31 March 2022

----- Start of picture text -----
2022 2022 2021 2021
Notes £ £ £ £
Fixed assets
Tangible assets 7 1,715,613 1,508,332
Investments 8 1,063,960 550,126
Total fixed assets 2,779,573 2,058,458
Current assets
Stocks – goods for resale 10,141 22,336
Debtors 9 1,645,968 1,299,751
Cash at bank and in hand 11,906,268 5,164,205
Total current assets 13,562,377 6,486,292
Creditors: amounts falling due within one year 10 (10,456,892) (2,764,932)
Net current assets 3,105,485 3,721,360
Total net assets less current liabilities 5,885,058 5,779,818
Creditors: amounts falling due after more than one year 11 (53,900) (109,501)
Net assets 5,831,158 5,670,317
The funds of the charity:
Unrestricted funds
Designated funds
• Premises sinking fund 1,303 1,303
• CDF – Legal fund 83,019 83,019
• CDF – Advocacy fund 75,000 75,000
• Life membership fund 304,701 278,899
• Legal advice scheme fund 104,578 104,578
568,601 542,799
General funds 5,091,576 4,969,044
Total unrestricted funds 5,660,177 5,511,843
Restricted funds 170,981 158,474
Total charity funds 12 5,831,158 5,670,317
----- End of picture text -----

Dr Janet Atherton OBE Approved on 28 July 2022

Page 45 Cycling UK Annual Report and Financial Statements 2021–2022

Charitable parent company balance sheet

Year ended 31 March 2022

----- Start of picture text -----
2022 2022 2021 2021
Notes £ £ £ £
Fixed assets
Tangible assets 7 1,715,613 1,508,332
Investments 8 1,098,975 585,147
Total fixed assets 2,814,588 2,093,479
Current assets
Stocks – goods for resale 10,141 22,336
Debtors 9 1,990,733 1,327,350
Cash at bank and in hand 11,152,340 4,287,065
Total current assets 13,153,214 5,636,751
Creditors: amounts falling due within one year 10 (10,482,427) (2,725,624)
Net current assets 2,670,787 2,911,127
Total net assets less current liabilities 5,485,375 5,004,606
Creditors: amounts falling due after more than one year 11 (53,900) (109,501)
Net assets 5,431,475 4,895,105
The funds of the charity:
Unrestricted funds
Designated funds
• Premises sinking fund 1,303 1,303
• CDF – Legal fund 83,019 83,019
• CDF – Advocacy fund 75,000 75,000
• Life membership fund 304,701 278,899
• Legal advice scheme fund 104,578 104,578
568,601 542,799
General funds 4,691,893 4,193,832
Total unrestricted funds 5,260,494 4,736,631
Restricted funds 170,981 158,474
Total charity funds 12 5,431,475 4,895,105
----- End of picture text -----

Cycling UK Annual Report and Financial Statements 2021–2022 Page 46

Annual Report 2021–2022

Cyclists’ Touring Club operating as Cycling UK

Consolidated statement of cash flows

Year ended 31 March 2022

----- Start of picture text -----
Year ended 1 October 2019
31 March to 31 March
2022 2021
Notes £ £
Cash flows from operating activities
Net cash provided by A 7,551,174 (950,327)
Cash flows from investing activities
Dividends and interest from investments 18,272 20,902
Purchase of tangible fixed assets (326,765) (299,375)
–
Proceeds from the disposal of investments 573,699
Purchase of investments (1,074,317) –
Net cash used in investing activities (809,111) (278,473)
Change in cash and cash equivalents in the year 6,742,069 (1,228,800)
Cash and cash equivalents at 1 April 2021 B 5,164,205 6,393,005
Cash and cash equivalents at 31 March 2022 B 11,906,268 5,164,205
----- End of picture text -----

Notes to the statement of cashflows for the period to 31 March 2022

A. Reconciliation of net movement in funds to net cash flow from operating activities

A. Reconciliation of net movement in funds to net cash fow from operating activities
Net movement in funds (as per the statement of fnancial activities)
Adjustments for:
Depreciation charges
Gains on investments
Dividends and interest from investments
Decrease/(increase) in stocks
(Increase) in debtors
Increase in creditors
Net cash provided by operating activities		 Year ended
31 March
2022
£
1 October 2019
to 31 March
2021
£
160,841
(586,188)
119,484
(13,216)
(18,272)
12,195
(346,217)
7,636,359
161,827
(56,962)
(20,902)
(3,855)
(780,105)
335,858
7,551,174
(950,327)
B. Analysis of cash and cash equivalents
Cash at bank and in hand
Total cash and cash equivalents
2022
£
2021
£
11,906,268
5,164,205
11,906,268
5,164,205

No separate reconciliation of net debt has been prepared as there is no difference between the net cash (debt) of the charity and the above cash and cash equivalents.

Page 47 Cycling UK Annual Report and Financial Statements 2021–2022

Principal accounting policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are laid out below.

Basis of preparation

These financial statements have been prepared for the year ended 31 March 2022 with comparatives for the period from 1 October 2019 to 31 March 2021.

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these financial statements.

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Companies Act 2006 and the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102.

The financial statements are presented in sterling and are rounded to the nearest pound.

Critical accounting estimates and areas of judgement

Preparation of the financial statements requires the trustees and management to make significant judgements and estimates.

The items in the financial statements where these judgements and estimates have been made include:

Assessment of going concern

The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these financial statements. The trustees have made this assessment in respect to a period of one year from the date of approval of these financial statements.

The trustees of the charity have concluded that there are no material uncertainties related to events or conditions

that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due. The most significant areas of judgement that affect items in the financial statements are detailed above. With regard to the next accounting period, the year ending 31 March 2023, the other significant areas that affect the carrying value of the assets held by the charity are the level of investment return and the performance of the investment markets.

Basis of consolidation

The group financial statements consolidate on a line-by-line basis the financial statements of Cyclists’ Touring Club (“the Club”), Cyclists’ Touring Club (Central) Limited, CTC Cycling Holidays and Tours Limited and The Cyclists’ Defence Fund together with the four other subsidiaries (listed in note 9) which control the activities of the member groups.

Income recognition

Income is recognised in the period in which the charity has entitlement to the income, the amount of income can be measured reliably, and it is probable that the income will be received.

Income comprises membership subscriptions, grant funding, services provided to organisations, donations, legacies, investment income, cycling holidays, trading income and other income.

Subscriptions received for periods of membership after 31 March 2022 are deferred and will be credited to income in future periods up to 2023.

Where grant funding is received in advance, the amount is deferred and released to the Statement of Financial Activities monthly, based on the advance claim made and any required adjustment is then made once the next claim is submitted.

Donations received under Gift Aid are recognised when the charity has confirmation of both the amount and settlement date. In the event of donations pledged but not received, the amount is accrued for where the receipt is considered probable. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity, and it is probable that those conditions will be fulfilled in the reporting period.

Page 48

Cycling UK Annual Report and Financial Statements 2021–2022

Annual Report 2021–2022

Cyclists’ Touring Club operating as Cycling UK

Legacies are included in the statement of financial activities when the charity is entitled to the legacy, the executors have established that there are sufficient surplus assets in the estate to pay the legacy, and any conditions attached to the legacy are within the control of the charity.

Entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably, and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, but the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material. In the event that the gift is in the form of an asset other than cash, or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title of the asset having been transferred to the charity.

Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

In accordance with the Charities SORP FRS 102 volunteer time is not recognised.

Expenditure recognition

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to make a payment to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accrual’s basis. Expenditure comprises direct costs and support costs. All expenses, including support costs, are allocated or apportioned to the applicable expenditure headings. The classification between activities is as follows:

  1. Expenditure on charitable activities includes all costs associated with furthering the charitable purposes of the charity through the provision of its charitable activities. Such costs include staff costs, an allocation of support costs, capital and non-capital costs for delivering programmes.

  2. Charitable grants and donations are made where the trustees consider there is real need following a review of the details of each particular case and comprise single year payments rather than multi-year grants. Grants and

donations are included in the statement of financial activities when approved for payment. Provision is made for grants and donations approved but unpaid at the period end.

All expenditure is stated inclusive of irrecoverable VAT.

Grant making

Cycling UK engages in grant making activity where it clearly contributes to the achievement of our objects and strategic aims. These grants typically relate to projects involving the development of community cycle projects and delivery of cycle development activity. During the period expenditure on grant making activity increased significantly following the provision of additional restricted funds from the Department for Transport, Transport Scotland and Sport England. These grants were largely paid to local community organisations and small cycle businesses and enterprises (sole traders) for the provision of Dr Bike repairs in England under the Big Bike Revival programme, and in Scotland for the Scottish Cycle Repair Scheme. Any grant award is subject to a satisfactory due diligence process and payment is linked to grant agreement terms and conditions and subject to regular monitoring and reporting.

Allocation of support and governance costs

Support costs represent indirect charitable expenditure. In order to carry out the primary purposes of the charity it is necessary to provide support in the form of personnel development, financial procedures, provision of office services and equipment and a suitable working environment.

Governance costs comprise the costs involving the public accountability of the charity (including audit costs) and costs in respect to its compliance with regulation and good practice.

Support costs and governance costs are apportioned on a percentage basis of total expenditure and the charitable activities. Staff related costs are allocated in the same proportion as directly attributable staff costs.

Page 49 Cycling UK Annual Report and Financial Statements 2021–2022

Tangible fixed assets

All assets costing more than £500 and with an expected useful life exceeding one year are capitalised.

• Freehold land and buildings

Freehold properties used for the direct charitable work of the charity are included in these financial statements at cost at the date of acquisition together with the cost of additions and improvements to date.

Functional freehold properties are depreciated at a rate of 4% per annum in order to write the buildings off over their estimated useful economic life to the charity.

Other tangible fixed assets are capitalised at cost and depreciated at the following annual rates in order to write them off over their estimated useful lives:

Furniture and fittings 10% per annum based on cost Computer equipment 33.3% per annum based on cost Website 33.3% per annum based on cost

Fully depreciated assets are eliminated from the balance sheet.

Fixed assets purchased under grants are not capitalised by the charity in agreement with our funding arrangements.

Fixed asset investments

Listed investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price.

The charity does not acquire put options, derivatives or other complex financial instruments.

As noted above the main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors.

Realised gains (or losses) on investment assets are calculated as the difference between disposal proceeds and their opening carrying value or their purchase value is acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value at that date. Realised and unrealised investment gains (or losses) are combined in the statement of financial activities and are credited (or debited) in the year in which they arise.

Stocks

Stocks comprise goods held for resale and are valued at the lower of cost and net realisable value.

Debtors

Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid. They have been discounted to the present value of the future cash receipt where such discounting is material.

Cash at bank and in hand

Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition. Deposits for more than three months but less than one year have been disclosed as short-term deposits. Cash placed on deposit for more than one year is disclosed as a fixed asset investment.

Creditors and provisions

Creditors and provisions are 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 estimated reliably. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material.

Cycling UK Annual Report and Financial Statements 2021–2022 Page 50

Annual Report 2021–2022

Cyclists’ Touring Club operating as Cycling UK

Fund structure

General funds represent those monies which are freely available for application towards achieving any charitable purpose that falls within the charity’s charitable objects.

Designated funds comprise monies set aside out of unrestricted general funds for specific future purposes or projects and are described as follows:

Restricted funds comprise monies raised for, or their use restricted to, a specific purpose, or contributions subject to donor-imposed conditions.

Services provided by volunteers

Corporation tax

Cycling UK is a registered charity and, therefore, is not liable to income tax or corporation tax on income or gains derived from its charitable activities, as they fall within the various exemptions for registered charities.

The trading subsidiaries of Cycling UK are liable to corporation tax on taxable profits. Current tax, including UK corporation tax and foreign tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Corporation tax is payable in respect of income arising on investments and short-term deposits and capital gains arising on disposals of certain tangible fixed assets and investments.

Value Added Tax

Subscriptions are partly exempt and partly zero rated for value added tax purposes. Non-recoverable input tax is included within the relevant expenditure headings.

In the financial statements of non-VAT registered subsidiary companies, value added tax suffered is included with the relevant expenditure.

Pension contributions

Contributions in respect of the charity’s defined contribution pension scheme are charged to the statement of financial activities when they are payable to the scheme. The charity’s contributions are restricted to the contributions disclosed in note 15. There were no outstanding contributions at the year end. The charity has no liability beyond making its contributions and paying across the deductions for the employees’ contributions.

Post balance sheet events

From the balance sheet date to the date that the financial statements were approved, there were no events requiring disclosure or adjustment to the financial statements.

For the purposes of these financial statements, no value has been placed on administrative and other services provided by our volunteers.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the net movement in funds.

Page 51 Cycling UK Annual Report and Financial Statements 2021–2022

Notes to the financial statements

Year ended 31 March 2022

1 Donations and legacies

----- Start of picture text -----
Year ended 1 October 2019 to
31 March 2022 31 March 2021
Group Unrestricted funds Restricted funds Total funds Total funds
£ £ £ £
Donations 117,632 – 117,632 177,192
–
Legacies 4,217 4,217 420,728
2022 Total funds 121,849 – 121,849 597,920
1 October 2019 to
31 March
Group Total funds
Unrestricted funds Restricted funds 2021
£ £ £
Donations 177,192 – 177,192
–
Legacies 420,728 420,728
2021 Total funds 597,920 – 597,920
Year ended 1 October 2019 to
31 March 2022 31 March 2021
Charity Unrestricted funds Restricted funds Total funds Total funds
£ £ £ £
Donations 117,632 – 117,632 177,192
Legacies 4,217 – 4,217 420,728
2022 Total funds 121,849 – 121,849 597,920
1 October 2019 to
31 March 2021
Charity Unrestricted funds Restricted funds Total funds
£ £ £
Donations 177,192 – 177,192
–
Legacies 420,728 420,728
2021 Total funds 597,920 – 597,920
----- End of picture text -----

Cycling UK Annual Report and Financial Statements 2021–2022 Page 52

Annual Report 2021–2022

Cyclists’ Touring Club operating as Cycling UK

2 Net income (expenditure) for the period

This is stated after charging:

----- Start of picture text -----
Group Charity
Year ended 1 October 2019 to Year ended 1 October 2019 to
31 March 2022 31 March 2021 31 March 2022 31 March 2021
£ £ £ £
Buzzacott current period audit fee 18,050 21,150 14,750 14,150
Buzzacott non-audit services 17,650 20,370 17,650 16,370
Bank charges and interest 46,519 53,603 30,772 45,710
Depreciation 119,484 153,182 119,484 153,182
Non-recoverable VAT 39,101 52,260 39,101 52,260
----- End of picture text -----

3 Expenditure on charitable activities

Group Staff
costs
£
Other direct
costs
£
Support
costs
£
Governance
costs
£
Year ended
31 March
Total funds
2022
£
Enable cycling for all
Speak up for all who cycle
Strengthen our organisation
Build sustainable membership
Cycling holidays
Total		 2,345,649
448,971
236,296
405,710
–
3,668,248
160,680
177,762
899,941
84,422
311,330
57,182
95,305
127,077
24,080
36,046
36,046
252,328
79,398
–
6,361,273
702,879
761,691
1,512,126
108,502
3,436,626
4,991,053
614,974
403,818
9,446,471
Group Staff
costs
£
Other direct
costs
£
Support
costs
£
Governance
costs
£
1 October
2019 to
31 March
Total funds
2021
£
Enable cycling for all
Speak up for all who cycle
Strengthen our organisation
Build sustainable membership
Cycling holidays
Total		 2,557,718
640,340
677,825
451,883
–
3,920,906
185,775
946,427
635,573
297,528
427,713
138,769
292,254
194,836
158,786
27,251
31,944
136,471
208,722
–
6,933,588
996,828
2,052,977
1,491,014
456,314
4,327,766
5,986,209
1,212,358
404,388
11,930,721

Page 53 Cycling UK Annual Report and Financial Statements 2021–2022

3 Expenditure on charitable activities (continued)

Charity Staff
costs
£
Other direct
costs
£
Support
costs
£
Governance
costs
£
Year ended
31 March
Total funds
2022
£
Enable cycling for all
Speak up for all who cycle
Strengthen our organisation
Build sustainable membership
Total		 2,345,649
448,971
236,296
405,710
3,668,248
160,680
177,762
899,432
311,330
57,182
95,305
127,074
36,046
36,046
252,328
76,098
6,361,273
702,879
761,691
1,508,314
3,436,626
4,906,122
590,891
400,518
9,334,157
Charity Staff
costs
£
Other direct
costs
£
Support
costs
£
Governance
costs
£
1 October 2019
to 31 March
Total funds
2021
£
Enable cycling for all
Speak up for all who cycle
Strengthen our organisation
Build sustainable membership
Total		 2,557,718
640,340
677,825
451,883
3,920,906
185,775
951,560
634,374
427,624
138,769
292,254
194,836
24,251
31,944
208,722
136,471
6,930,499
996,828
2,130,361
1,417,564
4,327,766
5,692,615
1,053,483
401,388
11,475,252

4 Grants

The charity makes grants to individuals and institutions in accordance with its grant making policy. The grants payable during the period were for the following purposes:

----- Start of picture text -----
1 October 2019 to
Year ended 31 March 2022 31 March 2021
Group and Charity £ £
Play Together on Pedals – 500
Big Bike Revival 1,181,995 1,252,551
Big Bike Revival Scotland 400 198,079
Scottish Cycle Repair Scheme 1,000,000 1,500,000
WYCA Access to Bike Community Clubs (1,340) 1,340
Shift! 87,097 –
WMCA/TFGM – Community Cubs 8,057 2,132
Sport England 87,179 104,401
2,363,388 3,059,003
----- End of picture text -----

Cycling UK Annual Report and Financial Statements 2021–2022 Page 54

Annual Report 2021–2022

Cyclists’ Touring Club operating as Cycling UK

5 Support costs

Group Premises
costs
£
General
offce
£
Other staff-
related costs
£
Financial
costs
£
Year ended
31 March
Total funds
2022
£
Enable cycling for all
Speak up for all who cycle
Strengthen our organisation
Build sustainable membership
Cycling holidays		 21,168
129,508
67,887
92,857
311,420
3,888
23,787
12,469
17,038
57,182
6,480
39,645
20,782
28,398
95,305
8,640
52,861
27,709
37,867
127,077
–
14,949
–
806
15,755
40,176
260,750
128,847
176,966
606,739
Group Premises
costs
£
General
offce
£
Other staff-
related costs
£
Financial
costs
£
1 October
2019 to
31 March
2021
Total
£
Enable cycling for all
Speak up for all who cycle
Strengthen our organisation
Build sustainable membership
Cycling holidays		 39,703
158,307
129,802
99,902
427,714
12,883
51,372
42,121
32,393
138,769
27,134
108,195
88,712
68,213
292,254
18,089
72,130
59,142
45,475
194,836
–
148,665
–
10,121
158,786
97,809
538,669
319,777
256,104
1,212,359

Page 55 Cycling UK Annual Report and Financial Statements 2021–2022

Charity Premises
costs
£
General
offce
£
Other staff-
related costs
£
Financial
costs
£
Year ended
31 March
Total funds
2022
£
Enable cycling for all
Speak up for all who cycle
Strengthen our organisation
Build sustainable membership		 21,168
129,508
67,887
92,767
311,330
3,888
23,787
12,469
17,038
57,182
6,480
39,645
20,782
28,398
95,305
8,640
52,861
27,709
37,864
127,074
40,176
245,801
128,847
176,067
590,891
Charity Premises
costs
£
General
offce
£
Other staff-
related costs
£
Financial
costs
£
1 October
2019 to
31 March 2021
Total
£
Enable cycling for all
Speak up for all who cycle
Strengthen our organisation
Build sustainable membership		 39,703
158,307
129,802
99,812
427,624
12,883
51,372
42,121
32,393
138,769
27,134
108,195
88,712
68,213
292,254
18,089
72,130
59,142
45,475
194,836
97,809
390,004
319,777
245,893
1,053,483

Support costs comprise costs incurred directly in support of expenditure on the charitable objects and include finance and administration costs. Support costs are allocated between activities based on the proportion of direct expenditure attributable to each activity. This is an adequate estimate of the amount of time and resources used for each activity during the year.

Page 56

Cycling UK Annual Report and Financial Statements 2021–2022

Annual Report 2021–2022

Cyclists’ Touring Club operating as Cycling UK

6 Governance costs

----- Start of picture text -----
Staff
salaries Legal Year ended
Group & related Trustees Audit & & other General 31 March 2022
costs meetings accountancy professional costs Total
£ £ £ £ £ £
Enable cycling for all 51,687 198 4,860 2,068 1,264 60,077
Speak up for all who cycle 31,013 119 2,916 1,241 758 36,047
Strengthen our organisation 196,413 754 18,469 7,858 4,802 228,296
Build sustainable membership 65,471 251 9,456 2,619 1,601 79,398
Cycling holidays – – – – – –
344,584 1,322 35,701 13,786 8,425 403,818
----- End of picture text -----

Group Staff
salaries
and
related
costs
£
Trustees
meetings
£
Audit and
accountancy
£
Legal
and other
professional
£
General
costs
£
1 October 2019
to 31 March
2021
Total
£
Enable cycling for all
Speak up for all who cycle
Strengthen our organisation
Build sustainable membership
Cycling holidays		 17,281
414
7,153
1,686
717
27,251
31,107
50
498
203
86
31,944
117,513
1,126
11,295
4,586
1,951
208,722
179,729
1,722
17,274
7,014
2,983
136,471
–
–
–
–
–
–
345,630
3,312
36,220
13,489
5,737
404,388

Page 57 Cycling UK Annual Report and Financial Statements 2021–2022

----- Start of picture text -----
Legal Year ended
Staff Trustees Audit & & other General 31 March 2022
Charity salaries meetings accountancy professional costs Total
£ £ £ £ £ £
Enable cycling for all 51,687 198 4,860 2,068 1,264 60,077
Speak up for all who cycle 31,013 119 2,916 1,241 758 36,047
Strengthen our organisation 196,413 754 18,469 7,858 4,802 228,296
Build sustainable membership 65,471 251 6,156 2,619 1,601 76,098
344,584 1,322 32,401 13,786 8,425 400,518
----- End of picture text -----

Charity Staff
salaries
and
related
costs
£
Trustees
meetings
£
Audit and
accountancy
£
Legal
and other
professional
£
General
costs
£
October 2019 to
31 March 2021
Total
£
Enable cycling for all
Speak up for all who cycle
Strengthen our organisation
Build sustainable membership		 17,281
414
4,153
1,686
717
24,251
31,107
50
498
203
86
31,944
179,729
1,722
17,274
7,014
2,983
208,722
117,513
1,126
11,295
4,586
1,951
136,471
345,630
3,312
33,220
13,489
5,737
401,388

Page 58

Cycling UK Annual Report and Financial Statements 2021–2022

Annual Report 2021–2022

Cyclists’ Touring Club operating as Cycling UK

7 Fixed assets

----- Start of picture text -----
Freehold land Furniture and Total
Group and Charity and buildings equipment Website 2022
£ £ £ £
Cost
At 1 April 2021 1,564,710 316,070 139,779 2,020,559
–
Additions during the year 20,167 306,598 326,765
–
Fully depreciated assets written off (36,443) (2,930) (39,373)
At 31 March 2022 1,564,710 299,794 443,447 2,307,951
Depreciation
At 1 April 2021 399,992 92,564 19,671 512,227
Charge for the year 26,588 55,576 37,320 119,484
–
Fully depreciated assets written off (36,443) (2,930) (39,373)
At 31 March 2022 426,580 111,697 54,061 592,338
Net book value
At 31 March 2022 1,138,130 188,097 389,386 1,715,613
At 1 April 2021 1,164,718 223,506 120,108 1,508,332
----- End of picture text -----

The carrying value of the property is reviewed for impairment on an annual basis by the Finance and Performance Committee who note rental value and market value of properties of similar size and geographic location to determine is an impairment may be required.

Page 59 Cycling UK Annual Report and Financial Statements 2021–2022

8 Investments

----- Start of picture text -----
2022 2021
Group £ £
Listed investments 1,063,960 550,126
2022 2021
Charity £ £
Unquoted investments 35,015 35,021
Listed investments 1,063,960 550,126
1,098,975 585,147
2022 2021
Listed investments £ £
Market value at 1 April 2021 550,126 493,164
Additions at cost 1,074,317 –
–
Disposal proceeds 573,699
Net investment gains 13,216 56,962
Market value at 31 March 2022 1,063,960 550,126
Cost of listed investments at 31 March 2022 1,074,317 399,898
----- End of picture text -----

The total unrealised gains as at 31 March 2022 constitutes movement on revaluation and are as follows:

2022
£
2021
£
Unrealised gains included above:
On investments
Total unrealised gains at 31 March 2022
Reconciliation of movements in unrealised gains:
Unrealised gains at 1 April 2021
Less: in respect to disposals in the year
Add: net gains arising on revaluation in the year		 (10,357)
150,228
(10,357)
150,228
150,228
93,266
(173,801)
–
13,216
56,962
(10,357)
150,228

Cycling UK Annual Report and Financial Statements 2021–2022 Page 60

Annual Report 2021–2022

Cyclists’ Touring Club operating as Cycling UK

8 Investments (continued)

Listed investments held at 31 March 2022 comprised the following:

----- Start of picture text -----
2022 2021
£ £
Fixed interest 65,152 –
–
UK equities 393,980
Euro & Sterling bonds – listed on the London Stock Exchange – 169,994
MSCI World shares – listed on the London Stock Exchange – 380,132
–
Overseas equities 483,865
Alternatives 120,963 –
1,063,960 550,126
2022 2021
£ £
Unquoted investments 35,015 35,021
Unquoted investments comprise:
Cyclists’ Touring Club (Sales) Limited – 3
Cyclists’ Touring Club (Central) Limited 3 3
Cyclists’ Touring Club (Eastern) Limited 3 3
Cyclists’ Touring Club (Northern) Limited 3 3
Cyclists’ Touring Club (Southern) Limited 3 3
Cyclists’ Touring Club (Western) Limited 3 3
CTC Cycling Holidays and Tours Limited 35,000 35,000
CTC (Cycle Racing) Limited – 3
£1 ordinary shares at cost 35,015 35,021
----- End of picture text -----

The Club holds the whole of the allotted share capital of each of the following companies, all of which are registered in England:

in England:
Cyclists’ Touring Club (Central) Limited Organises and promotes national cycling events
Cyclists’ Touring Club (Eastern) Limited These subsidiaries comprise member groups whose aims are
to promote cycling activities to their members in their areas
Cyclists’ Touring Club (Northern) Limited
Cyclists’ Touring Club (Southern) Limited
Cyclists’ Touring Club (Western) Limited
CTC Cycling Holidays and Tours Limited Organises cycling touring holidays to members
The Cyclists' Defence Fund Limited Dormant company

Page 61 Cycling UK Annual Report and Financial Statements 2021–2022

9 Debtors

----- Start of picture text -----
Group Charity
2022 2021 2022 2021
£ £ £ £
Trade debtors 125,564 197,412 155,564 227,412
Amounts due from group companies – – – 3,101
Other debtors 253,048 120,089 252,943 112,504
Prepayments & accrued income 1,267,356 982,250 1,582,226 984,333
1,645,968 1,299,751 1,990,733 1,327,350
----- End of picture text -----

10 Creditors: amounts falling due within one year

----- Start of picture text -----
Group Charity
2022 2021 2022 2021
£ £ £ £
Trade creditors 270,750 122,006 270,750 108,586
Accruals 174,907 98,398 163,282 89,398
Amounts due to group companies – – 7,163 7,163
Taxes and social security 125,424 98,871 125,424 98,871
Deferred income 8,304,250 1,097,799 8,304,250 1,073,751
Other creditors 259,886 13,979 289,883 13,976
Subscriptions in advance 1,267,903 1,256,600 1,267,903 1,256,000
Commuted subscriptions in advance 53,772 77,279 53,772 77,279
10,456,892 2,764,932 10,482,427 2,725,624
----- End of picture text -----

10,456,892
2,764,932		 10,482,427 2,725,624
Group
2022
£
2021
£		 Charity
2022
£		 2021
£
Deferred income at 1 April 2021 1,097,799
709,431		 1,073,751 545,454
Released during the year (3,713,140)
(5,874,509)		 (3,689,092) (5,703,732)
Resources deferred in the year 10,919,591
6,262,877		 10,919,591 6,232,029
Deferred income at 31 March 2022 8,304,250
1,097,799		 8,304,250 1,073,751

The deferred income stated above is represented by the national e-cycle programme project awarded by the Dept for Transport and funding received in March 2022 of £7,896,659. All income has been deferred, apart from £22,136 of costs incurred before the 31 March 2022.

11 Creditors amounts falling due after more than one year

Group and Charity Group and Charity
2022
£		 2021
£
Commuted subscriptions in advance
53,900		 109,501

Page 62

Cycling UK Annual Report and Financial Statements 2021–2022

Annual Report 2021–2022

Cyclists’ Touring Club operating as Cycling UK

12 Movement in funds

Group At 1 April 2021
£
Income
£
Expenditure
£
Net gains on
investments and
transfers
£
At 31 March
2022
£
Unrestricted funds
Designated funds
• Life membership fund
• Legal advice scheme fund
• CDF – Legal fund
• CDF – Advocacy fund
• Premises sinking fund
General funds
Total unrestricted funds		 278,899
32,118
(6,316)
–
304,701
104,578
–
–
–
104,578
83,019
–
–
–
83,019
75,000
–
–
–
75,000
1,303
–
–
–
1,303
542,799
32,118
(6,316)
–
568,601
4,969,044
3,371,342
(3,440,876)
192,066
5,091,576
5,511,843
3,403,460
(3,447,192)
192,066
5,660,177
Restricted funds
Enable cycling for all
Speak up for all who cycle
Strengthen our organisation
Build sustainable membership
Cycling holidays
Total restricted funds
Total funds		 143,035
6,462,393
(6,256,395)
(178,850)
170,183
15,439
59,894
(74,535)
–
798
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
158,474
6,522,287
(6,330,930)
(178,850)
170,981
5,670,317
9,925,747
(9,778,122)
13,216
5,831,158
Group At 1 October
2019
£
Income
£
Expenditure
£
Net gains on
investments and
transfers
£
At 31 March
2021
£
Unrestricted funds
Designated funds
• Life membership fund
• Legal advice scheme fund
• CDF – Legal fund
• CDF – Advocacy fund
• Premises sinking fund
General funds
Total unrestricted funds		 205,776
83,277
(10,154)
–
278,899
104,578
–
–
–
104,578
77,029
5,990
–
–
83,019
75,000
–
–
–
75,000
1,303
–
–
–
1,303
436,686
89,267
(10,154)
–
542,799
5,561,322
5,083,951
(5,733,191)
56,962
4,969,044
6,025,008
5,173,218
(5,743,345)
56,962
5,511,843
Restricted funds
Enable cycling for all
Speak up for all who cycle
Strengthen our organisation
Build sustainable membership
Cycling holidays
Total restricted funds
Total funds		 231,108
6,556,842
(6,644,915)
–
143,035
389
61,805
(46,755)
–
15,439
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
231,497
6,618,647
(6,691,670)
–
158,474
6,256,505
11,791,865
(12,435,015)
56,962
5,670,317

Page 63 Cycling UK Annual Report and Financial Statements 2021–2022

12 Movement in funds (continued)

Charity At 1 April 2021
£
Income
£
Expenditure
£
Net gains on
investments and
transfers
£
At 31 March
2022
£
Unrestricted funds
• Life membership fund
• Legal advice scheme fund
• CDF – Legal fund
• CDF – Advocacy fund
• Premises sinking fund
General funds
Total unrestricted funds		 278,899
32,118
(6,316)
–
304,701
104,578
–
–
–
104,578
83,019
–
–
–
83,019
75,000
–
–
–
75,000
1,303
–
–
–
1,303
542,799
32,118
(6,316)
–
568,601
4,193,832
3,634,557
(3,328,562)
192,066
4,691,893
4,736,631
3,666,675
(3,334,878)
192,066
5,260,494
Restricted funds
Enable cycling for all
Speak up for all who cycle
Strengthen our organisation
Build sustainable membership
Total restricted funds
Total funds		 143,035
6,462,393
(6,256,395)
(178,850)
170,183
15,439
59,894
(74,535)
–
798
–
–
–
–
–
–
–
–
–
–
158,474
6,522,287
(6,330,930)
(178,850)
170,981
4,895,105
10,188,962
(9,665,808)
13,216
5,431,475
Charity At 1 October
2019
£
Income
£
Expenditure
£
Net gains
on investments
and transfers
£
At 31 March
2021
£
Unrestricted funds
Designated funds
• Life membership fund
• Legal advice scheme fund
• CDF – Legal fund
• CDF – Advocacy fund
• Premises sinking fund
General funds
Total unrestricted funds		 205,776
83,277
(10,154)
–
278,899
104,578
–
–
–
104,578
77,029
5,990
–
–
83,019
75,000
–
–
–
75,000
1,303
–
–
–
1,303
463,686
89,267
(10,154)
–
542,799
4,598,175
4,816,417
(5,277,722)
56,962
4,193,832
5,061,861
4,905,684
(5,287,876)
56,962
4,736,631
Restricted funds
Enable cycling for all
Speak up for all who cycle
Strengthen our organisation
Build sustainable membership
Total restricted funds
Total funds		 231,108
6,556,842
(6,644,915)
–
143,035
389
61,805
(46,755)
–
15,439
–
–
–
–
–
–
–
–
–
–
231,497
6,618,647
(6,691,670)
–
158,474
5,293,358
11,524,331
(11,979,546)
56,962
4,895,105

Page 64

Cycling UK Annual Report and Financial Statements 2021–2022

Annual Report 2021–2022

Cyclists’ Touring Club operating as Cycling UK

Funds carried forward are made up of the following:

Life membership fund

Unrestricted funds which the Trustees transfer to the Statement of Financial Activities at a rate of 4% per annum. These funds are to cover the costs of those members who have taken out a life membership.

Legal advice scheme fund

Unrestricted funds which the Trustees have allocated for the provision of legal advice to members involved in cycling related accidents.

General funds

Unrestricted funds that may be used to further the charity’s objects.

Enable cycling for all

West Yorkshire Combined Authority – Cycle for health programme; encouraging people onto led rides for health benefits.

West Midlands Combined Authority – delivering community groups and cycling initiatives.

CDF Legal fund

Unrestricted funding set aside to support legal action and cases where the rights of cyclists or opportunities to cycle are significantly affected.

CDF Advocacy fund

Unrestricted funding to support advocacy and campaigning where the rights of cyclists or opportunities to cycle are significantly affected.

Essex CC, Norfolk CC, Mersey Travel – support to enable and encourage active travel alongside the Department for Transport funded Big Bike Revival programme.

Dunoon Cycle Bothy – project funded by Argyll & Bute Council to increase the use of active travel via Cycling UK’s Bothy programme.

Aberdeenshire Council – support for the integrated travel towns project in Aberdeenshire via Cycling UK’s Bothy programme.

Premises sinking fund

Unrestricted funds which the Trustees have allocated for the repair and maintenance of the Railton Road premises.

Page 65 Cycling UK Annual Report and Financial Statements 2021–2022

13 Analysis of net assets between funds

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2022 2021
Group Unrestricted funds Restricted funds Total funds Total funds
£ £ £ £
Cash at bank and in hand 11,906,274 – 11,906,274 5,164,205
Fixed assets 2,779,567 – 2,779,567 2,058,458
Stocks 10,141 – 10,141 22,336
Debtors 1,474,987 170,981 1,645,968 1,299,751
Creditors (10,510,792) – (10,510,792) (2,874,433)
5,660,177 170,981 5,831,158 5,670,317
Unrestricted funds Restricted funds 2021 Total funds
Group £ £ £
Cash at bank and in hand 5,163,782 423 5,164,205
Fixed assets 2,058,458 – 2,058,458
Stocks 22,336 – 22,336
Debtors 1,141,700 158,051 1,299,751
Creditors (2,874,433) – (2,874,433)
5,511,843 158,474 5,670,317
----- End of picture text -----

Charity Unrestricted funds
£
Restricted funds
£
2022
Total funds
£
2021
Total funds
£
Cash at bank and in hand
Fixed assets
Stocks
Debtors
Creditors		 11,152,340
2,814,588
10,141
1,819,752
(10,536,327)		 –
11,152,340
4,287,065
–
2,814,588
2,093,479
–
10,141
22,336
170,981
1,990,733
1,327,350
–
(10,536,327)
(2,835,125)
5,260,494 170,981
5,431,475
4,895,105
Charity Unrestricted funds
£
Restricted funds
£
2021 Total funds
£
Cash at bank and in hand
Fixed assets
Stocks
Debtors
Creditors		 4,286,642
423
4,287,065
2,093,479
–
2,093,479
22,336
–
22,336
1,169,299
158,051
1,327,350
(2,835,125)
–
(2,835,125)
4,736,631
158,474
4,895,105

Cycling UK Annual Report and Financial Statements 2021–2022 Page 66

Annual Report 2021–2022

Cyclists’ Touring Club operating as Cycling UK

14 Staff costs

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|||||| |---|---|---|---|---| |Project staff|Non-project staff|2022 Total|2021 Total| |£|£|£|£| |Salaries payable|1,667,905|1,877,045|3,544,950|4,428,938| |Social security costs|142,083|179,479|321,562|397,236| |Pension costs|67,759|85,662|153,421|198,254| |1,877,747|2,142,186|4,019,933|5,024,428| |Project staff|Non-project staff|2021 Total| |£|£|£| |Salaries payable|1,965,750|2,463,188|4,428,938| |Social security costs|161,807|235,429|397,236| |Pension costs|87,699|110,555|198,254| |2,215,256|2,809,172|5,024,428|

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The average number of employees analysed by function was:

----- Start of picture text -----
Actual numbers Full time equivalent
2022 2021 2022 2021
No. No. No. No.
Enable cycling for all 67 57 61 47
Speak up for all who cycle 9 9 8 8
Strengthen our organisation 35 23 33 22
Build sustainable membership 11 15 11 15
122 104 113 92
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During the year the number of employees earning £60,000 or more (including taxable benefits and excluding employer pension contributions) was as follows:

----- Start of picture text -----
2022 2021
No. No.
£60,000 – £69,999 2 3
£70,000 – £79,999 1 1
£90,000 – £99,999 1 1
----- End of picture text -----

Key management personnel comprise the chief executive, director of organisational effectiveness & finance, director of income generation, director of behaviour change and director of engagement & influence. The total remuneration (including taxable benefits, employer’s pension contributions and employers’ national insurance contributions) paid to key management personnel during the year was as set out in the table as follows.

----- Start of picture text -----
||| |---|---| |2022|2021| |£|£| |390,206|354,396|

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During the year the total amount paid for staff redundancies was £1,130 (2021 – £67,324).

Page 67 Cycling UK Annual Report and Financial Statements 2021–2022

15 Trustees’ remuneration and related party transactions

None of the trustees received any remuneration in respect of their services during the period (2021 – £nil).

During the year out of pocket travelling expenses amounting to £912 (2021 – £2,829) were reimbursed to 6 (2021 – 10) trustees.

Related party transactions

The charity has taken advantage of the exemptions in FRS102 and has not reported transactions with consolidated group companies. Balances owed to and/or from group companies are disclosed in notes 9 and 10 of the financial statements. There are no other related party transactions.

16 Summary of subsidiaries accounts

CTC (Central) Limited
CTC Cycling Holidays & Tours Limited
Cyclists’ Touring Club (Eastern) Limited
Cyclists’ Touring Club (Northern) Limited
Cyclists’ Touring Club (Southern) Limited
Cyclists’ Touring Club (Western) Limited		 Company
number
1644669
4106179
1101956
1101957
1101958
1101959		 Income
£
3,384
90,843
24,928
27,388
28,992
28,615		 Expenditure
£
3,812
54,080
26,868
37,452
29,030
29,015		 Surplus/(defcit)
for the year
£
(428)
138,502
(1,940)
(10,064)
(38)
(400)		 2022
Total funds
£
43,408
–
74,990
189,851
74,562
82,020
CTC (Central) Limited Company
number
1644669		 Income
£
29,998		 Expenditure
£
4,288		 Surplus/(defcit)
for the year
£
25,710		 2021
Total funds
£
43,839
CTC Cycling Holidays & Tours Limited 4106179 325,629 486,314 (160,685) 362,659
Cyclists’ Touring Club (Eastern) Limited 1101956 31,748 34,529 (2,781) 76,930
Cyclists’ Touring Club (Northern) Limited 1101957 29,089 37,502 (8,413) 199,915
Cyclists’ Touring Club (Southern) Limited 1101958 24,211 29,638 (5,427) 74,601
Cyclists’ Touring Club (Western) Limited 1101959 50,489 61,118 (10,629) 82,420

The Cyclists’ Defence Fund is a non-trading subsidiary.

CTC Holidays & Tours Limited ceased trading in October 2021 and was placed into Members’ Voluntary Liquidation on 6 December 2021. The assets remaining of approximately £315,000 are anticipated to be transferred to the parent company during the third quarter of 2022.

Cyclists’ Touring Club (Eastern) Limited, Cyclists’ Touring Club (Northern) Limited, Cyclists’ Touring Club (Southern) Limited and Cyclists’ Touring Club (Western) Limited are exempt from the requirements of the Companies Act 2006 relating to the audit of the individual accounts by virtue of section 479A. To enable the exemption from audit under s479A to be claimed, the parent charity has guaranteed to meet all outstanding liabilities of these companies.

During the year dormant entities including Cyclists’ Touring Club (Sales) Limited, CTC (Cycle Racing) Limited and CTC Charitable Trust were struck from the register of companies.

Page 68

Cycling UK Annual Report and Financial Statements 2021–2022

Annual Report 2021–2022

Cyclists’ Touring Club operating as Cycling UK

Legal and administrative information

Trustees Dr Janet Atherton (chair) Christine Gibbons (vice chair) Fiona Abbott Paul Baker Melanie Carroll Rachel Kirkwood Andy MacNae Sam Marshall Ben Packer (appointed 1 October 2021) Mark Smith Robin Tucker

Committee membership (current officers):

Audit and Governance Committee Christine Gibbons (chair) Paul Baker Ben Packer Richard May (independent non-trustee member)

Finance and Performance Committee Andy MacNae (chair) Mark Smith Melanie Carroll Robin Tucker People and Culture Committee Fiona Abbott (chair) Rachel Kirkwood Sam Marshall

Nominations Committee Janet Atherton (chair) Christine Gibbons Paul Baker Fiona Abbott

Nominations Committee
Janet Atherton (chair)
Christine Gibbons
Paul Baker
Fiona Abbott
CEO Sarah Mitchell
Company secretary Phil Hall
Registered address Parklands
Railton Road
Guildford
Surrey GU2 9JX
Company registration number 00025185 (England and Wales)
Charity registration numbers 1147607 (England and Wales)
SC042541 (Scotland)
‘Cycling UK’ is the trading brand and identity for ‘Cyclists’ Touring Club’ (‘CTC’).
Auditor Buzzacott LLP
130 Wood Street
London EC2V 6DL
Bankers Royal Bank of Scotland
10 North Street
Guildford
Surrey GU1 4AQ
Solicitors Farrer & Co LLP
66 Lincoln’s Inn Fields
London WC2A 3LH
Investment managers Rathbone Investment Management
Limited
Port of Liverpool Building
Pier Head
Liverpool L3 1NW

Page 69 Cycling UK Annual Report and Financial Statements 2021–2022

T: 01483 238301 cyclinguk.org

Cycling UK, Parklands, Railton Road, Guildford, Surrey GU2 9JX

Cyclists’ Touring Club (CTC) a company limited by guarantee, registered in England no: 25185 Registered as a charity in England and Wales charity no: 1147607 and in Scotland charity no: sco42541