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← Julies Bicycle

2021-03-31-accounts

JULIE’S BICYCLE

(A COMPANY LIMITED BY GUARANTEE)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

Company Registration No: 06040585

Julie’s Bicycle is a Registered Charity: England and Wales No. 1153441

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JULIE’S BICYCLE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021

COMPANY INFORMATION

Directors/Trustees: Tony Wadsworth (Chairman) Sian Alexander Jonathan Badyal – appointed on 9[th] June 2021 Melvin Benn John Enser Neil Johnston (Company Secretary) David Joseph Professor Diana Liverman Farhana Yamin

Key Management Personnel :

Alison Tickell - Chief Executive Officer Chiara Badiali - Knowledge and Sector Intelligence Lead Sylvia Cantino - Finance Manager (Freelance) Natalie Highwood - Managing Director (Maternity cover) Lucy Latham - Arts Council and Policy Programme Lead Graciela Melitsko Thornton – Creative Green Programme Lead Laura Pando - Managing Director

Chief Executive: Alison Tickell

Registered Office: Somerset House South Wing Strand London WC2R 1LA Company Number: 06040585 (England and Wales) Charity Number: 1153441 Auditors: Azets Audit Services, Chartered Accountants 2[nd] Floor, Regis House 45 King William Street London EC4R 9AN Banks: HSBC plc Triodos Bank 108 London Road Deanery Road Headington Bristol Oxford BS1 5AS OX3 9AP

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JULIE’S BICYCLE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021

CHAIRMAN’S STATEMENT FOR THE YEAR ENDED 31 MARCH 2021

This year, beset with daily uncertainties as the cultural community responded to the challenges of lock-down, was also a wake-up call to climate change. As the effects of industrialisation are increasingly felt, and issues of fairness and justice converge with the root causes and consequences of climate change we are experiencing a transformative moment. Julie’s Bicycle has been at the forefront of this change and has managed to keep a steady state in the midst of a huge shift in cultural attitudes.

Tony Wadsworth, Chairman

CHIEF EXECUTIVE’S REPORT FOR THE YEAR ENDED 31 MARCH 2021

Overview

The year of the pandemic – 2020 to 2021 – was transformative; our mission changed considerably. Though our core mission remains the same – climate action at scale and speed – the impact of the murder of George Floyd threw a spotlight on issues of social justice, and the interconnected relationship between climate, environment, racism and colonialism.

Culture is a weather vane, and the BLM movement, alongside the COVID-19 pandemic, mobilised many in the sector to action, prompting conversation and reflection that encompassed climate and nature as part of systemic reappraisal of our work. So, whilst the year started very badly, JB was able to navigate through reasonably well, absorbing manageable loss from cancelled projects that could not take place and building a stronger climate justice programme. A weekly small executive and board team managed decisions quickly and helped allocate resources in response to the crisis, which mainly affected earned income from advice and support for individual companies and partnerships (many of which operated minimally and some shut down altogether), and the Arts Council programme, where many people were furloughed.

It became clear after the first quarter that JB did not need to furlough staff because action on climate was becoming a growing priority across the sector and, notwithstanding the lack of income, interest was extremely high and ambition growing. The sector started to organise, with music, theatre and visual arts groups coming together to generate community interventions. International advocacy, so much easier online, reached an alltime high.

Most of the programme converted rapidly to digital, with delays, and there were a few all out cancellations. After a period of rapid adjustment (to timing, programme delivery, content) much of the year was intense delivery.

Our priority was simple:

  1. To keep focused on the climate crisis whilst staying sensitive and resilient to the COVID19 pandemic

  2. To maintain a steady organisation

One of the most welcome moments was early in the first lock down when Esmée Fairbairn, unbidden, provided a 50% uplift in our grant. This was hugely appreciated and took some of the sting away from the loss of income in the first six months.

In July JB authored a letter to Rt Hon Secretary of State for Culture Oliver Dowden calling for a Just Green Recovery for culture, signed by almost 500 culture professionals: we await a response.

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JULIE’S BICYCLE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021

Alongside the pandemic the withdrawal of the UK from the European Union was challenging. JB set up an independent company in Ireland – JBEU – with long-time colleagues Native Events. Opportunities are flourishing for advocacy and speaking, but business in the EU remains challenging.

2020-21 Activities Highlights

Arts Council England Programme

In the storm of the pandemic, Arts Council England’s National Portfolio effectively shut down in the first 6 months of FY 2020, with around 80% of the workforce on furlough. KPIs were adjusted and all the programmes were delivered online – with the result that they were well attended. Inevitably emissions profiles changed and deadlines for reporting were pushed back, and made voluntary. We are only just completing the final results as I write in August 2021.

A series of 3 roundtables with selected sector and subject leads, on Net Zero culture, Nature and Regenerative approaches to cultural practice and business, provided useful insight to feed back to Arts Council England in the light of the next 10-year strategy ‘Let’s Create’. The findings and format of these roundtables were in turn influential in shaping the planning of the British Council funded programme of consultation and roundtable conversation internationally for 21/22.

The Arts Council has aligned the timing of JB’s contract with the NPO contracts so a further year – 2022/23 – was added. This will allow for time to plan following the Spending Review in Autumn 2021.

Season for Change

In spite of long delays Season for Change was delivered throughout 2020 and continues until COP26. Online Exchanges and Creative Climate Chats, alongside the JB tool kit were delivered. Commissions – both the main programme and the Common Ground programmes, were either postponed or delivered digitally. Only one commission was cancelled. Inspirational artists and campaigners worked throughout the programme to help us focus on climate and justice, leaving a rich legacy of ideas and content. The website will remain live for at least a year.

Creative Green

Immediately after the first lock-down was announced the Creative Green programme slowed down significantly as people were furloughed and buildings reduced to the bare minimum of servicing. Most contracts were postponed and a small number cancelled all together. However, by the end of the year the programme was in full operation. Overall, we finished well below pre-covid projections but significantly better than we imagined at the beginning of lock-down, reflecting a huge interest from the cultural community in spite of a punishing year.

Creative Climate Leadership

Originally intended to take place in July 2020 the Swedish chapter of CCL was delivered over several months online in 2021.

Music Declares Emergency

Julie’s Bicycle hosted Music Declares Emergency to support their accounting and charitable development as they set up as an independent charity, providing financial systems, support and hosting.

International

The two EU projects, ROCK and C Change were completed successfully in 2021, with two further EU funded programmes focused on cities:

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JULIE’S BICYCLE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2021

  1. Horizon 2020 funded ROCK programme (Athens, Cluj-Napoca, Eindhoven, Liverpool, Lyon, Turin, Vilnius, Lisbon, Bologna, Skopje)

  2. C-Change is a network of six cities, led by Manchester and funded by Urbact, supporting Wroclaw, Mantova, Agueda, Sibenik and Gelsenkirchen to collaborate on climate and develop a similar approach.

Julie’s Bicycle continued to deliver a rich advocacy programme internationally, speaking about cultural shifts, practical action, and lobbying at all levels for change and celebrating community. We did 48 major public speaking events as compared to 35 the previous year, 23 for UK audiences and 25 internationally.

............................................................................... Alison Tickell, Chief Executive

31[st] August 2021

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JULIE’S BICYCLE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2021

The Trustees have pleasure in presenting their Report and the Financial Statements for the year ended 31 March 2021. The Financial Statements comply with current statutory requirements, the Memorandum and Articles of Association and The Statement of Recommended Practice - Accounting and Reporting by Charities (SORP 2015).

Julie’s Bicycle is a leading international charity at the interface of culture and climate change. Our vision is a creative community with sustainability at its heart and our mission is to provide the inspiration, expertise and resources to make that happen.

Charitable Objectives

The objects of the company are:

Public Benefit Statement

In accordance with good practice the Board have, in determining our strategic aims, identified the public benefit of each strategic aim. In doing so the Board has set in place monitoring and evaluation procedures to review the impact of our work to ensure that these aims are consistently being met through service delivery. A review of this impact and public benefit is given below for each of our main project areas with a summary of our outputs for the last twelve months.

Performance Summary

Partners and Sector Support

Julie’s Bicycle received support from three charitable trusts and foundations: The Esmée Fairbairn Foundation awarded us a third annual instalment of £105,000 (unrestricted), donating an additional 50% in recognition of the Covid crisis, the Paul Hamlyn Foundation awarded £20,000 (restricted) to support Season for Change, our 2020-2021 nationwide festival of culture and climate action and the AKO Foundation provided £10,000 to support the research and delivery of The Art of Zero report into the visual arts and climate change

Corporate Partnership and Crowdfunding

Julie’s Bicycle continued its sponsor arrangement with 100% renewable energy company Good Energy, who provided financial support (£30,000) for Julie’s Bicycle’s overall events programme (2019-20: £30,706).

Julie’s Bicycle received generous music industry donations from Festival Republic (£20,000), Universal Music UK (£20,000) and Warner Music (£7,000).

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JULIE’S BICYCLE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021

Financial Review

Julie’s Bicycle made a surplus of £342,287 in 2020-21 (2019-20: surplus of £3,652). Total incoming resources were £1,128,119 (2019-20: £936,864). The charity achieved an unrestricted/designated surplus of £52,482 (2019-20: £60,502)

The annual income from the contract with Arts Council England decreased in net terms and as a percentage of overall income in 2020-21, as compared to 2019-20 mainly due to some of the activities having been deferred to 2021-22 due to the Covid-19 pandemic

Earned income generated from Creative Green certification and consultancy and Partnership Projects has also decreased both in net terms and as a percentage of overall income in 2020-21, as compared to 2019-20 due to lots of venues having been closed for most of the year due to the Covid-19 pandemic.

Julie’s Bicycle received a substantial grant from The British Council for a programme to be carried out in 2021 for COP26, received in March 2021. The expenditure is for the current financial year 2021/22.

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JULIE’S BICYCLE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021

Total resources expended were £785,832 (2019-20: £933,212).

Reserves and Investment Policy

The Trustees have taken a prudent approach to establishing company reserves and as at 31[st] March 2021 set the general unrestricted funds at three months unrestricted operating expenses to further any of the charity’s purposes. The reserves policy remains unchanged in the current period.

The Trustees review the level of designated funds on an annual basis in line with the charity’s needs and plans. Detail of reserves fund designations can be found in Note 13 on page 28.

The Trustees have an agreed policy regarding investment of the organisation's assets. This is reviewed annually, or more frequently if the external financial environment merits this. The Board have agreed that external expertise and advice may be sought to assist in making investment decisions which ensure the best outcomes for the organisation.

Going Concern

Julie’s Bicycle has secured a contract with Arts Council England until March 2022 which has been extended by a year. Together with a 4-year annual grant from the Esmée Fairbairn Foundation until 2022 this provides a foundation of £340,000. In addition, we are confident that donations of £25,000 are secure. Together this security enables JB to build the business post pandemic. Climate and the environment are issues that will not disappear quickly and JB is in a prime position to support the cultural sector to transition, and is, after many years, recognised as such. Reserves will have reduced by the end of 2021-22 by a maximum of £100,000, which will leave around £230,000

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JULIE’S BICYCLE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021

Risk Management

Julie’s Bicycle is a highly specialised company that sits at the intersection of the arts and culture and environmental sustainability, as well as the intersection between the technical/practical solutions to climate change, such as carbon mitigation and adaptation, sustainable procurement, etc, and the cultural positioning of climate change in the context of public engagement. In 2021 the critical risks are both areas over which JB has limited control:

  1. The effect of a global pandemic on the arts and culture in the UK especially, but also globally, on JBs core services and business model.

  2. The impact of a no-deal Brexit constraining JBs capacity to operate in the EU.

  3. The staff team, characterised by highly specialist knowledge and expertise, in a small company would be disproportionately affected by change in personnel.

  4. Building a financial model that is able to serve the aims of both culture and sustainability in a funding context which generally favours one specific sector.

Long-term financial stability is an on-going priority. The charity has a Reserves Policy of 3 months full operational costs, a Redundancy Policy and is working on a Business Plan that accounts for the effect that the pandemic has had on the arts and culture.

Fundraising

Julie’s Bicycle fundraises from philanthropic sources and donors alongside generating the partnerships and contracts required to fund the work from a combination of services and support. Trustees are involved in the fund raising in order to ensure that all fundraising activities are in the service of our charitable objects, and are explicitly linked to Julie’s Bicycle’s core mission and purpose; responsibly managed, which includes protecting and safeguarding our reputation; and carried out with reasonable care and skill.

Our fundraising strategy uses the six key principles as set out by HM Government’s Charity Commission:

Future Plans

A surge of interest in climate action has stimulated a lot of interest in international collaboration. Investment into the digital tools and resources is a priority, and funding looks certain. JB has established a company in Ireland to ease trading with the EU.

Julie’s Bicycle is planning for significant growth currently with the Board of Directors, understanding that climate action is intensely urgent and increasingly in demand. Conversations with Arts Council England are on-going.

Governance – Appointment of Directors and Trustees

The eight members of the Board of Directors, who act as Trustees of the charity, supervise the governance and management of the organisation. Directors who served during the year, or have been subsequently appointed, are listed on page 1.

Appointment to the Board is determined by the needs of the charity. The Board of Directors aims to ensure that the composition of the Board includes individuals with suitable skills and experience to contribute positively to the governance of the charity. The organisation has a clear organisational structure with documented lines of authority and delegation, which is regularly reviewed by the Board. The Board is responsible for setting

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JULIE’S BICYCLE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021

strategies and policies and for ensuring that these are implemented by the Chief Executive on behalf of the Board.

There were no new appointments or resignations during 2020-21.

When a prospective Trustee is identified they have an initial meeting with the Chief Executive and a subsequent meeting with the Chair or another existing Trustee nominated by the Chair. Prospective Trustees are provided with a role description outlining the duties and responsibilities of a Trustee and the expected time commitment for the role. If the person is deemed suitable as a Trustee they are nominated at the next Trustee meeting. If their nomination is ratified, they are invited to join the Board at the subsequent meeting. Subsequent to their election to the Board, the Chief Executive meets with the Trustee to brief them on the work of the organisation.

Training in the role of being a Trustee is available and is paid for by the organisation.

Officers of the Board are elected at the AGM each year or when required. An officer must be nominated and seconded by two existing Trustees. In the event of two nominations for the same officer role a vote is held and the person with the greater number of votes is deemed elected.

The Trustees are responsible for the overall strategic direction of the organisation to approve an annual workplan and budget which are proposed by the Chief Executive and staff team. Decisions regarding the implementation of the work-plan and budget are delegated to the Chief Executive and staff team. Where there are significant variances to the budget, or items of expenditure approval is sought at Board meetings, or electronically between meetings if it is an urgent matter.

HR disciplinary matters are dealt with by the Chief Executive and notified to the Chair of the Trustees. The Chair will then decide if the full Board needs to be notified.

The Chief Executive is responsible for recruitment and staff management. The Director and Chair will decide if the presence of a Trustee is necessary on an interview panel.

Key Management Personnel: Senior Management Comprise of the Trustees and those noted on page 1 of the accounts

The Board of Directors has overall responsibility for agreeing the pay and remuneration of the charity’s key management personnel. The CEO has responsibility for understanding the sector averages and making recommendations to the board for recruitment and promotions based on competencies, experience and performance. All employees have contractual obligations and individual responsibilities and objectives against which they are reviewed and assessed to inform pay scales.

Personnel and Staff Movements

Staff Resignations:

Office Coordinator: Faye Chang: June 2020 Environment and Sustainability Coordinator: Brianna Francis: October 2020

Staff Recruitment:

Season for Change Programme Manager: Salome Wagaine: April 2020 Managing Director (Maternity Cover): Natalie Highwood: July 2020 Office Coordinator: Oghenetega Okiti: August 2020

Communications and Advocacy Manager: Isobel Diamond: November 2020

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JULIE’S BICYCLE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021

Trustees’ Responsibilities in Relation to the Financial Statements

The Trustees (who are Directors of Julie’s Bicycle for the purposes of company law) are responsible for preparing the Directors’ Report and the financial statements in accordance with the applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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 of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the 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. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and irregularities.

In so far as the Trustees are aware:

Auditors

A resolution to re-appoint Azets Audit Services will be proposed at the Annual General Meeting

On behalf of the Trustees :

Tony Wadsworth, Chairman 22[nd] September 2021

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JULIE’S BICYCLE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021

Independent Auditor’s Report to the Members of Julie’s Bicycle

Opinion

We have audited the financial statements of Julie’s Bicycle (the ‘charitable company’) for the year ended 31 March 2021 which comprise of the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flow and notes to the financial statements, including significant accounting policies. 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 charitable company 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 charitable company'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 other information comprises the information included in the trustees annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.

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JULIE’S BICYCLE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021

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 charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) 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 charitable company’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 charitable company or to cease operations, or have no realistic alternative but to do so.

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 specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:

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IULIE'S BICYCLE FINANCIAL STATEMENTS YÉAR ENDED 31 MARCH 2021 Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriatcncss, cvaluatins thc buoiness rationale of significant transactions outside the normal course of business and reviewing accounting estimate5 for indicators of potential bias. BELouse ul Lliy irilieieiii lirTiiI(ItIVlls uf an audit, there 15 a risk that we will not (Jerecr all Irregularllles, Includlng those leading to a material mi5Statement in the financial statements or non-compliance with iegulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-COFnpliance. The risk is a150 greater regarding irregularities occurrinE due to fraud rather than error, as fraud involv@s intentional concealment, forgery, collusion, omission or mis￿preSentatIon. A further description of our responsibilities is available on the Financial Reporting Council's website at.. htt -LLwww.Irc.or .uk Our-work Audit Audil-and-igssurance 5taridards-ond- uidance Standards-ind- IAuditorg-res £uid3nce-lor-3uditor5 -for-3udit Destri tion-ol-Judittsrt rc: for audit.a" This description forms part of our auditorfs report. Us• of our roport I his report 15 made solely to the charitable companws members, as a body, In accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members 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 thp rharit3blp rnmpany and tho ¢h>ritablo ¢ompan¢s members as a body, for our audit work. for this report, or for the oplnSon5 we have formed. Lox John Howard Isenior Statutory Auditor) For and on behalf of A2ets Audit Services, St3tutory Audit. Ch3rtered Accountants 2. Floor, Regis House 45 King William Street London EC4R 9AN Date So £dftQ-%u- knl,

JULIE’S BICYCLE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2021

STATEMENT OF FINANCIAL ACTIVITIES

Notes
INCOME FROM:
Donations
2
Charitable activities
3
Other trading activities
4
Investments
5
Other Income
6
Total income
EXPENDITURE ON:
Raising funds
7
Charitable activities:
Sustainable Creative Practice
7
Knowledge and Skills
7
Policy, advocacy and campaigns
7
Total expenditure
NET INCOME/(EXPENDITURE)
7
TRANSFERS BETWEEN FUNDS
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS:
Total funds brought forward at 1 April
Total funds carried forward at 31 March		 Unrestricted
Funds
Designated
Funds
Restricted
Funds Total Funds Total Funds
2020-21
2020-21
2020-21
2020-21
2019-20
£
£
£
£
£
30,131
-
40,905
71,036
71,019
535,832
-
442,233
978,065
813,653
54,000
-
1,750
55,750
52,038
1,090
-
-
1,090
154
22,178
-
22,178
-
643,231
-
484,888
1,128,119
936,864
35,894
-
-
35,894
69,157
450,080
20,278
61,305
531,663
481,603
60,007
-
8,381
68,388
158,455
22,300
-
127,587
149,887
223,997
568,281
20,278
197,273
785,832
933,212
74,950
(20,278)
287,615
342,287
3,652
(97,313)
95,123
2,190
-
-
(22,363)
74,845
289,805
342,287
3,652
290,607
107,664
42,067
440,338
436,686
268,244
182,509
331,872
782,625
440,338

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The Notes on pages 17 to 29 form an integral part of these financial statements.

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JULIE’S BICYCLE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2021

BALANCE SHEET COMPANY NO. 06040585

Notes
FIXED ASSETS
Investments
9
Total fixed assets
CURRENT ASSETS
Debtors
10
Cash at bank and in hand
Total current assets
LIABILITIES
Creditors: amounts falling due within one year
11
Net current assets
Total assets less current liabilities
Total net assets
FUNDS OF THE CHARITY
Restricted funds
12
Unrestricted funds:
13
General funds
Designated funds
Total charity funds		 Unrestricted
Funds
Designated
Funds
Restricted
Funds Total Funds
Total
Funds
2020-21
2020-21
2020-21
2020-21
2019-20
£
£
£
£
£
1
-
-
1
1
1
-
-
1
1
212,410
-
-
212,410
200,956
293,314
182,509
331,872
807,695
429,010
505,724
182,509
331,872
1,020,105
629,966
(237,480)
-
-
(237,480)
(189,629)
268,244
182,509
331,872
782,625
440,337
268,245
182,509
331,872
782,626
440,338
268,245
182,509
331,872
782,626
440,338
-
-
331,872
331,872
42,067
268,244
-
-
268,244
290,607
-
182,509
-
182,509
107,664
268,244
182,509
331,872
782,625
440,338

The financial statements were approved by the Trustees on 22[nd] September 2021 and signed on their behalf by:

Tony Wadsworth (Chairman of Trustees on behalf of the Trustees)

The Notes on pages 17 to 29 form an integral part of these financial statements.

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JULIE’S BICYCLE FINANCIAL STATEMENTS YEAR ENDING 31 MARCH 2021

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2021

Notes 2020-21 2019-20
£ £
Cash flows from operating activities
Net cash provided by/used in operating activities a 377,595 41,143
Cash flows from investing activities
Dividends, interests and rents from investments 1,090 154
Cash flows from financing activities - -
Change in cash and cash equivalent in the reporting period 378,685 41,297
Cash and cash equivalents at the beginning of the reporting period b 429,010 387,713
Change in cash and cash equivalents due to exchange rate movements - -
Cash and cash equivalents at the end of the reporting period b 807,695 429,010
(a) RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES
2020-21 2019-20
£ £
Net income/(expenditure) for the reporting period 342,287 3,652
Adjustments for:
Dividends, interests and rent from investments (1,090) (154)
Loss/(profit) on the sale of fixed assets - -
(Increase)/decrease in debtors (11,454) 107,455
Increase/(decrease) in creditors 47,852 (69,810)
Net cash provided by operating activities 377,595 41,143
2020-21 2019-20
(b) ANALYSIS OF CASH AND CASH EQUIVALENTS £ £
Cash in hand 21 32
Notice deposit (less than 3 months) 807,674 428,978
Total cash and cash equivalents 807,695 429,010

The Notes on pages 17 to 29 form an integral part of these financial statements.

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JULIE’S BICYCLE FINANCIAL STATEMENTS YEAR ENDING 31 MARCH 2021

NOTES TO THE ACCOUNTS

1. ACCOUNTING POLICIES

a) Basis of Accounting

Julie’s Bicycle is a company limited by guarantee not having a shared capital registered in the United Kingdom. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities are:

Julies Bicycle meets the definition of a public benefit entity under FRS 102.

The financial statements have been prepared in accordance with 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) issued on 16 July 2014, Charities SORP (FRS 102) effective 1 January 2015, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The financial statements are prepared on a going concern basis under the historical cost convention, or transaction value, unless otherwise stated in the relevant accounting policy note(s).

The financial statements are prepared in sterling, which is the functional currency of the charity, and rounded to the nearest £1.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

b) Income Recognition

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably, and it is probable that the income will be received.

The income represents the total incoming resources receivable during the year comprising grants, donations and gifts, sponsorships and operating income.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees’ Annual Report.

Income from grants is recognised in full in the Statement of Financial Activities in the year in which the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received, and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.

17

JULIE’S BICYCLE FINANCIAL STATEMENTS YEAR ENDING 31 MARCH 2021

Income from trading activities includes income from sponsorships, Creative Green consultancy and certification and Partnership Projects. Income is received in exchange for supplying services and is recognised when entitlement has occurred, any performance conditions have been met, and the amount can be measured reliably

Investment income includes interest on funds held on deposit. It is included when receivable and the amount can be measured reliably by the charity; usually upon notification of the interest paid or payable by the bank.

Government grants related to income are recognized over the period when the related costs are incurred. The grants received int her year relate to the Coronavirus Job Retention Scheme

c) Fund Accounting

Unrestricted funds comprise accumulated surpluses and deficits on general funds. They are available for use at the discretion of the Trustees in furtherance of the general charitable objectives.

Designated funds are unrestricted funds of the charity which the Trustees have decided at their discretion to set aside to use for specific purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

d)

Expenditure Recognition and Irrecoverable VAT

Expenditure is accounted for on an accrual basis once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Expenditure is classified under the following activity headings:

e)

Allocation of Support Costs

Support costs are those costs which are not directly attributable to specific activities. They include expenditure on premises, finance, HR, professional fees and governance.

These costs have been allocated between cost of raising funds and expenditure on charitable activities on the basis of the headcount allocation to the individual activities based on the time tracker in place.

Analysis of these costs is included in Note 6.

f)

Tangible Fixed Assets

Individual items of equipment are capitalised at cost where the purchase price exceeds £1,000 and the asset have an expected useful life exceeding one year. The tangible fixed assets are depreciated over their estimated useful economic lives on a straight-line basis. Depreciation costs are allocated to activities on the base of the headcount allocation to the activities (see note e above).

18

JULIE’S BICYCLE FINANCIAL STATEMENTS YEAR ENDING 31 MARCH 2021

During the year ending 31 March 2021 there were no assets which exceeded the capitalisation threshold.

g) Investments

Julie’s Bicycle owns 100% of the issued share capital of Julie’s Bicycle Trading Ltd, being one £1 share.

For the financial year ended 31 March 2021 the company did not prepare consolidated group accounts under Companies Act 2006 small group exemption

h) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Debtors receivable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

i) Cash at Bank and in Hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

j) Creditors and Provisions

Creditors and provisions are recognised when the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Creditors receivable within one year are recorded at transaction price

k) Pension

The charity auto-enrolment date was 1[st] October 2016. New and existing employees were automatically enrolled into the Aviva Pension scheme unless they exercised their right to opt out of scheme membership.

The Trustees are unable to confirm the charity’s share of the underlying assets and liabilities of the Aviva Pension Scheme and therefore the Scheme is accounted for as a defined contribution scheme.

The employer’s contributions made to the scheme in 2020-21 were £26,229 (2019-20 £24,924) with an employer’s contribution rate of 6% of pensionable pay and 2% employee’s contribution

l) Tax

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010; therefore, it meets the definition of a charitable company for UK corporation tax purposes.

m) Going Concern

The impact of Covid on the cultural sector and by association JB continues to be regularly monitored with risks regularly evaluated at Board level. Whilst it remains a difficult time for the sector, the pandemic, combined with COP 26 being held in the UK, has served to increase focus on the need for environmental action - action which JB is well placed to deliver.

The Trustees are confident that the charities resources are sufficient to meets its liabilities for 12 months from authorising these financial statements and budgeted income and expenditure remains sufficient with the level of reserves for the charity to continue as a going concern. The financial statements have therefore been prepared on a going concern basis.

19

JULIE’S BICYCLE FINANCIAL STATEMENTS YEAR ENDING 31 MARCH 2021

2 Donations Notes Unrestricted Restricted Total Total
2020-21 2020-21 2020-21 2019-20
£ £ £ £
Donations a 30,131 40,905 71,036 71,019

In 2019-20, £37,727 of the total income from donations was attributable to the unrestricted fund, and the remaining £33,292 was attributable to the restricted fund.

(a)
Analysis of Donations Received
P N Quicke
Universal Music
Warner Music
Domino Recording Company
Involved productions
Beggars Group Ltd
Nicolai Tangen
Dane Chantala
Various donations to Powerful Thinking
Various donations to Music Declares Emergency
Various donations to core costs
Festival Republic
The Nationwide Caterers Association
Lewis Silkin LLP
Music Insurance Brokers
Various general donation
Kambe Events
SMART Power
Association of Festival Organisers
Loowatt
Production Services Association (PSA)		 Unrestricted
Restricted
Total
Total
2020-21
2020-21
2020-21
2019-20
£
£
£
£
-
32,000
32,000
20,000
-
20,000
20,000
7,000
-
7,000
7,000
-
3,000
3,000
-
3,000
3,000
-
2,500
2,500
2,000
-
2,000
1,000
-
1,000
-
255
255
23,665
-
150
150
3,527
131
-
131
-
-
-
10,350
-
-
-
2,000
-
-
-
1,000
-
-
-
1,000
-
-
-
727
-
-
-
500
-
-
-
500
-
-
-
250
-
-
-
250
-
-
-
250
30,131
40,905
71,036
71,019

20

JULIE’S BICYCLE FINANCIAL STATEMENTS YEAR ENDING 31 MARCH 2021

3 Charitable Activities

Charitable Activities Notes Unrestricted Restricted Total Total
2020-21 2020-21 2020-21 2019-20
£ £ £ £
Grants a 109,350 442,233 551,583 149,963
Primary purpose trading b 426,482 - 426,482 663,690
Total income from charitable activities 535,832 442,233 978,065 813,653

In 2019-20, £79,963 of total income from charitable activities was attributable to restricted funds, and the remaining £733,690 was attributable to unrestricted funds.

(a)
Analysis of Grant Income
Grants
The British Council
The Esmée Fairbairn Foundation
Swedish Postcode Lottery Fund
ArtsAdmin
Paul Hamlyn Foundation
AKO Foundation
EU - ROCK (Comune di Bologna)
Event Industry Forum - Purple Guide Grant
DWP - Access to Work
Creative Europe - Creative Climate Leadership
EcoArts Connections
Polden Puckham Foundation
John Ellerman Foundation
Arts Council England		 Unrestricted
Restricted
Total
Total
2020-21
2020-21
2020-21
2019-20
£
£
£
£
-
231,300
231,300
-
105,000
-
105,000
70,000
-
85,894
85,894
-
-
71,698
71,698
9,210
-
20,000
20,000
-
-
10,000
10,000
-
-
13,007
13,007
-
-
7,000
7,000
-
4,350
-
4,350
-
-
2,574
2,574
-
-
760
760
11,753
-
-
-
4,000
-
-
-
40,000
-
-
-
15,000
109,350
442,233
551,583
149,963

In 2019-20, £79,963 grant income was attributable to restricted funds, and the remaining £70,000 was attributable to unrestricted funds.

The British Council grant funds Julie's Bicycle's Creative Climate Policy Programme in partnership with the British Council in the lead up to COP 26

The Esmée Fairbairn Foundation grant funds core costs of expanding work with the cultural sector to develop and implement policy for reducing environmental impacts

The Swedish Postcode Lottery Fund funds three Creative Climate Leadership programmes in Sweden and Scandinavia between 2021 and 2023

The ArtsAdmin grant funds Julie's Bicycle's involvement in Season for Change 2020-2021 a nationwide festival of culture and climate action

The Paul Hamlyn Foundation funds Season for Change 2020-2021 nationwide festival of culture and climate action

The AKO Foundation funds the research and delivery of The Art of Zero report into the visual arts and climate change

The EU-ROCK (Comune di Bologna) funds an international multi-partner project exploring cultural heritage in cities as a driver for sustainable growth and as a factor of competitiveness and production.

The Event Industry Forum - Purple Guide Grant funds Vision 2025: A Vision For a Sustainable Industry related to outdoor events

The DWP - Access to Work funds equipment and training for workers with disabilties

Creative Europe - Creative Climate Leadership grant funded support for creative and cultural leaders (including emerging leaders) in implementing new approaches to environmental sustainability

The EcoArts Connections grant funds support for USA Creative Climate Leaders.

21

JULIE’S BICYCLE FINANCIAL STATEMENTS YEAR ENDING 31 MARCH 2021

(b)
Analysis of Primary Purpose Trading
Arts Council England
Creative Green Consultancy, Certification, Licensing Tools and Partnership
Other
Accrued Income b/f
Arts Council England
Creative Green Consultancy, Certification, Licensing Tools and Partnership
Other
Deferred Income b/f
Arts Council England
Creative Green Consultancy, Certification, Licensing Tools and Partnership
Accrued Income c/f
Arts Council England
Creative Green Consultancy and Certification, Partnership Projects
Deferred Income c/f
Arts Council England
Creative Green Consultancy, Certification, Licensing Tools and Partnership
Total income from primary purpose trading		 Unrestricted
Restricted
Total
Total
2020-21
2020-21
2020-21
2019-20
£
£
£
£
260,446
-
260,446
241,946
239,880
-
239,880
314,624
9,331
-
9,331
23,630
509,657
-
509,657
580,200
-
-
-
-
(20,089)
-
(20,089)
-
-
-
4,516
-
4,516
36,259
-
36,259
-
-
-
1,100
-
1,100
(55,966)
-
(55,966)
(48,995)
-
(48,995)
426,482
-
426,482

In 2019-20 the whole income from primary purpose trading for £580,200 was attributable to unrestricted funds.

22

JULIE’S BICYCLE FINANCIAL STATEMENTS YEAR ENDING 31 MARCH 2021

4 Other Trading Activities Other Trading Activities Note Unrestricted Restricted Total Total
2020-21 2020-21 2020-21 2019-20
£ £ £ £
Sponsorship a 54,000 1,750 55,750 52,038
Total income from other trading activities 54,000 1,750 55,750 52,038
In 2019-20, £38,706 sponsorship income was attributable to unrestricted funds and £13,332 to restricted funds.
(a) Analysis of Sponsorships Unrestricted Restricted Total Total
2020-21 2020-21 2020-21 2019-20
£ £ £ £
Good Energy 30,000 - 30,000 30,706
Festival Republic 20,000 - 20,000 -
Seacourt Ltd 4,000 - 4,000 5,000
ZAP Concepts 1,750 1,750 -
Stripe Payment Crowdfunder - - - 4,167
Continest Technologies Plc - - - 2,500
First Mile - - - 1,500
Pilio Ltd - - - 1,500
Rock City Stage Crew Ltd - - - 1,000
Bar Nation - - - 1,000
Oxfam - - - 1,000
MTD (UK & Ireland) Ltd - - - 500
Birmingham29 Ltd - - - 250
Ide Systems Ltd - - - 285
Midas Productions (UK) Ltd - - - 285
Smart Power Ltd - - - 285
Flying Hire - - - 285
Power Logistics Services Ltd - - - 285
Gofer Ltd - - - 285
Innovation Power - - - 285
Pearce Hire - - - 285
Paragon Power Services Ltd - - - 285
Frank Water - - - 250
MyCause UK - - - 100
54,000 1,750 55,750 52,038
5
Investment Income
Note
Bank interest
Other financial income
Total income from Investments		 Unrestricted
Restricted
Total
Total
2020-21
2020-21
2020-21
2019-20
£
£
£
£
1,057
-
1,057
154
33
33
-
1,090
-
1,090
154

In 2019-20, the total £154 income from interest was attributable to unrestricted funds.

23

JULIE’S BICYCLE FINANCIAL STATEMENTS

YEAR ENDING 31 MARCH 2021

6 Other Income

Other Income
Note
Coronavirus Job Retention Scheme grant
Total Other income		 Unrestricted
Restricted
Total
Total
2020-21
2020-21
2020-21
2019-20
£
£
£
£
22,178
-
22,178
-
22,178
-
22,178
-

In 2019-20, the total amount of other income was £nil

7
ANALYSIS OF TOTAL EXPENDITURE
Notes
Raising funds
a
Charitable expenditure
Sustainable Creative Practice
b
Knowledge and Skills
c
Policy, advocacy and campaigns
d
Total expenditure
Notes
(a)
Raising funds
Salaries
e
Direct costs
Support costs: overheads
f
(b)
Sustainable Creative Practice
Salaries
e
Direct costs
Support costs: overheads
f
(c)
Knowledge and Skills
Salaries
e
Direct costs
Support costs: overheads
f
(d)
Policy, advocacy and campaigns
Salaries
e
Direct costs
Support costs: overheads
f		 Staff costs
Direct costs
Support
costs:
overheads
Total
Total
2020-21
2020-21
2020-21
2020-21
2019-20
£
£
£
£
£
23,754
-
12,140
35,894
69,157
358,559
65,325
107,779
531,663
481,603
38,373
18,481
11,534
68,388
158,455
80,606
45,052
24,229
149,887
223,997
501,292
128,858
155,682
785,832
933,212
Restricted Unrestricted Designated
Total
Total
2020-21
2020-21
2020-21
2020-21
2019-20
£
£
£
£
£
-
23,754
-
23,754
45,378
-
-
-
-
-
-
12,140
-
12,140
23,779
-
35,894
-
35,894
69,157
37,633
320,926
-
358,559
248,044
15,622
45,463
4,240
65,325
152,297
8,050
83,691
16,038
107,779
81,262
61,305
450,080
20,278
531,663
481,603
6,795
31,578
-
38,373
64,264
724
17,757
-
18,481
73,136
862
10,672
-
11,534
21,055
8,381
60,007
-
68,388
158,455
82,384
(1,778)
-
80,606
133,201
43,393
1,659
-
45,052
47,157
1,810
22,419
-
24,229
43,639
127,587
22,300
-
149,887
223,997

In 2019-20, £6,044 expenditure on raising funds was attributable to the restricted funds and £63,113 to unrestricted fund; and £177,394 expenditure on charitable activities was attributable to the restricted fund, with the remaining £686,661 attributable to unrestricted funds.

24

JULIE’S BICYCLE FINANCIAL STATEMENTS YEAR ENDING 31 MARCH 2021

(e) ANALYSIS OF SALARIES, EMPLOYEES AND KEY MANAGEMENT PERSONNEL

Salaries
Social security costs
Pensions		 2020-21
2019-20
£
£
433,862
423,742
41,201
41,311
26,229
25,835
501,292
490,888

The number of FTE employees during the year was 11.4 (2019-20: 11.7).

One employee received remuneration in between £60,001-£70,000 (2019-20: 1).

The key management personnel of Julie's Bicycle comprise the Trustees and those noted on page 1 of the accounts

The total employee and self-employed benefits of the key management personnel for the charitable company were £300,514 (2019-20: £239,501)

(f) ANALYSIS OF SUPPORT COSTS

Notes
Staff recruitment, training and development
Legal and professional fees
Fundraising
Premises
Marketing
Office costs
Governance and compliance
f
Bank charges and other financial costs
Travel and subsistence
Total		 2020-21
2019-20
£
£
5,793
8,265
29,974
23,390
5,000
10,026
24,236
41,564
11,353
13,916
18,393
22,060
5,000
4,750
55,782
42,989
151
2,772
155,682
169,732
-

(g) DISCLOSURE OF TRUSTEES’ REMUNERATION, BENEFITS AND EXPENSES

None of the charity Trustees were paid, or have received any other benefits, from employment with Julie's Bicycle in the year (2019-20: £nil); one of the Trustees Sian Alexander has received remuneration for £5,0000 for professional services of fundraising supplied to the charity as freelancer, following her appointment approved by the totality of the Board members in the Board meeting held on 19th March 2021 (2019-20: £nil).

8

OPERATING RESULT FOR THE YEAR

The operating surplus for the year is stated after charging:
Statutory audit fee
Tax advisory services		 2020-21
2019-20
£
£
5,000
4,750
250
-
5,250
4,750

25

JULIE’S BICYCLE FINANCIAL STATEMENTS YEAR ENDING 31 MARCH 2021

9 INVESTMENTS

Shares in wholly owned
subsidiary undertaking at cost		 2020-21
2019-20
£
£
1
1

The subsidiary undertaking, Julies Bicycle Trading Limited, is a company limited by shares, registered in England and Wales, No. 06405709. The company is currently dormant.

Income
Expenditure
Gifted profit
Net profit
Net assets		 2020-21
2019-20
£
£
-
-
-
-
-
-
-
-
1
1

10 DEBTORS

Trade debtors
Bad debt reserve
Prepayments and accrued income
Rent deposit
Other debtors		 2020-21
2019-20
£
£
201,090
121,348
(10,342)
(1,500)
15,689
69,484
5,973
11,384
-
240
212,410
200,956

26

JULIE’S BICYCLE FINANCIAL STATEMENTS YEAR ENDING 31 MARCH 2021

11
CREDITORS
Notes
Trade creditors
Accruals
Deferred income
a
VAT payable
Taxes and social security
(a)
DEFERRED INCOME RECONCILIATION
Brought forward at 1st April
Amounts released to income
Additions during the year
Carried forward balance at 31st March		 2020-21
2019-20
£
£
38,848
40,591
27,462
39,702
104,961
40,775
53,805
56,758
12,404
11,803
237,480
189,629
2020-21
2019-20
£
£
40,775
123,641
(40,775)
(123,641)
104,961
40,775
104,961
40,775

Income has been deferred for Arts Council England, Creative Green Consultancy, Creative Green certification and Partnership Projects contracts in progress at year end.

12 RESTRICTED FUNDS - CURRENT YEAR Note

Grants, donations and sponsorship
(a)
Restricted funds - prior year
Grants, donations and sponsorship		 At
1st April
2020
Incoming
Resources
Resources
Expended
Transfers
In/(Out)
At
31st March
2021
£
£
£
£
£
42,067
484,888
(197,273)
2,190
331,872
42,067
484,888
(197,273)
2,190
331,872
At
1st April
2019
Incoming
Resources
Resources
Expended
Transfers
In/(Out)
At
31st March
2020
£
£
£
£
£
98,918
126,587
(183,438)
-
42,067
98,918
126,587
(183,438)
-
42,067

27

JULIE’S BICYCLE FINANCIAL STATEMENTS YEAR ENDING 31 MARCH 2021

13 UNRESTRICTED FUNDS - CURRENT YEAR

Notes

Designated funds
Redundancy and notice period fund
a
Organisational development fund
b
General funds
c
Total unrestricted funds
d		 At
1st April
2020
Incoming
Resources
Resources
Expended
Transfers
In/(Out)
At
31st March
2021
£
£
£
£
£
50,664
-
-
1,845
52,509
57,000
-
(20,278)
93,278
130,000
107,664
-
(20,278)
95,123
182,509
290,607
643,231
(568,281)
(97,313)
268,244
398,271
643,231
(588,559)
(2,190)
450,753
0

The balance of the fund at year end has been constituted on the following basis: the amount of statutory redundancy due at 31st March 2022 to all entitled staff employed as at 31st March 2021 plus the amount of the contractual notice period exceeding 3 months for all employed staff entitled as at 31 March 2021.

Of the £57,000 carried forward from 2019-20 the utilization in 2020-21 was £20,278. (2019-20 £nil). The level of the fund has been reviewed by the Trustees and established to £130,000

(d)
Unrestricted funds - prior year
Redundancy and notice period fund
Organisational development fund
General funds
Total unrestricted funds		 At
1st April
2019
Incoming
Resources
Resources
Expended
Transfers
In/(Out)
At
31st March
2020
£
£
£
£
£
43,876
-
-
6,788
50,664
57,000
-
-
-
57,000
100,876
-
-
6,788
107,664
236,892
810,277
(749,774)
(6,788)
290,607
337,768
810,277
(749,774)
-
398,271

28

JULIE’S BICYCLE FINANCIAL STATEMENTS YEAR ENDING 31 MARCH 2021

14 OPERATING LEASE COMMITMENTS

The charity's total future minimum lease payments under non-cancellable operating leases are as follows for each of the following periods:

Less than one year:
Two to five years:
Over five years		 2020-21
2019-20
£
£
20,207
31,870
26,499
70,883
-
-
46,706
102,753

Julie’s Bicycle can terminate the lease agreement at any time giving the landlord six months’ notice in writing.

15 RELATED PARTIES

The charity had no related party transactions during the period (2019-20: £nil).

16 CORPORATION TAX

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

29