REGISTERED COMPANY NUMBER: 094336901EDgland and Wales) REGISTERED CHARITY IYUMBER: 1161628 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENrs FOR THE YEAR ENDED 31ST MARCH 2024 FOR CYCLING 4 ALL
CYCLING 4 ALL CoNs OF THE FfNANCIAL STATEMENrs FOR THE YEAR ENDED 31ST MARCH 2024 Contents Report of the Trustees............................ ... ststement of Flnandal Aedvltle$...............,.....................,............................................... Balanee Sheet............................ Notes to the Flnanelgl Statements..................................................................................... io Detailed Stalement of Flnanclal Actlvltles.............................................. 15
CYCLING 4 ALL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 Report of the Trustees The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the fjnancial statcrnents of the charity for the year ended 31 st March 2024. The trustees have adopted th¢ provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable tt) charities preparing their accounts in a¢¢ord8ce with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2015). OBJECTIVES AND ACTIVITIES Objectlve and aim The objective and airn of the charity are as follows: The promolion of community participation in healthy reereation by the provision of facililles for cycling The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning fure activilies. In particular, thc trustees consider how planned activities will contribute to the aims and objectives they have set. Slgnltleant a¢¢ivltles Cycling 4 All (also knov41] as Pedal Power) provides opportunities for people of all abilities to enjoy cycling and the associated health benefits. This is undertaken through the provision of specialist bxkes, trikes, wheelchair cycles and tandems as well as two-wheel hybrid and mountain bikes. This service is run by trained staff and volunteers and takes place on a traffic free and safe track in a local county park. Overvlew of the Year We substantially achieved our aim of continuing to restore the business to ils pre-covid level of activity as demonstrated by the progre88ively increasing rnetrics for our core cycling offer and associated income. Ai the same time, we continued to ensure the essential health and safety precautions needed to safeguard against the continuing risks of inf¢ction and of ar¢id¢nts. Fund-raising wa8 very Successful with two major grants 8ecur¢d: £24k from Postcode Community Trust to support an additional one-day opening for 18 months for pupils from spe¢ial schools. £35k from Landfill Communities Scheme over 3 years for bike swaps, refurbishment of salvaged or donated bikes, and low-cost sales of refutbished bikes, as well as learn-to-ride sessions. We held another Christma8 bazaar at Eaton Hall in November which raised over £2k net of costs, and we are indebted to all who have contributed to our funding needs during the year. Our long-terni site manager, Peter Kennedy, retired at the end of March 2023 and was replaced by Alex Foden. Staffing was further strengthened by the appointment in January of Rob Pullen to support the major grant-funded projects, which enabled us to expand our service to four days per week in the fu] quarter of the fmancial year. The learn-to-ride and bike swap project funded by Comic Relief in 2022 completed in September 2023. 72 young people had attended regular Saturday sessions, with an average number of 4-6 per session. 10 children's bikes were repaired and made more affordable for a flash sale at the end of the project. 8 bike swaps were achieved. Approval was secured for redirecting Some funding to fleet maintenance. Storing and maintainitig the ageing fleet of specialist bikes and other equipment to ensure continuity of the services we provide has become an increasing challenge. The storage problem has largely been overcome by securing a second container on the site with some rationalisation of the equipment held. Repairing and maintaining the tleet depends on the availability of r¢pla¢ement parts, especially for the rarer and more complrx items. Some new equipment will be required. A planned r¢plac¢ment Programme will be key and a njOr funding campaign to secure the necessary fance has been initiated. Regular reports to the board on pmgress will continue throughout 2024-25.
CYCLING 4 ALL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 Accepting the challenge of the ageing fleet, we nonetheless ended the year in a strong fll)&ncial position, with our operational business continuing to move in the right direction, and with a capable and hardworking team of pmfessionals and volunteers who share our passion for providing opportunities for people of all abilities to enjoy cycling and the associated health benefits. We were delighted that Cycling 4 All secured a fmalist trophy for Organisation of the Year at the Welsh Charity Awards in October. Flnancial Performance The total income rAised in the year amounted to £82.7k. £9.5k of this was generated by income from our core business of bike hire. This was an improvement on the £8.6k raised in 2022-23 and a much better result than the £4.7k delivered in the "covid-re¢overy" year of 2021-22 and the £l.Ik dcliver¢d in 2020-21 when the IkdOWn and other restrictions, combined with inclement weather during much of the period we were open, resulted in a materially reduced level of activity and income. The other major sources of income are covered under Fund-raising below. Total expenditure amounted to £40.2k. producing a surplus for the year of £42.5k (£7.7k unrestricted and £34.8k restricted) At the end of the year our reserves stood at ££66.4k (unrestricted £23.Ok and restricted £42.4k), reflecting net current assets of £62.6k and fed assets of £3.8k Our buoyant cash position will be essential for our continued recovery towards a more 8UStainable future. Achlevements Our bike ride metrics continued io recover from the unprecedentedly low levels of 2020-21 and 2021-22 which were impacted so severely by the pandemAC and the associated restrictions, as well as by resulting changes in patterns of ¢veryday life affecting all of us. The tsble below illustrates the recovery. Metrics in 2020-21 were negligible. 2023-24 2022-23 2021-22 Client rides 1,431 1.809 1,087 Support rides Family rides New rides 1,620 1,591 1,138 25 39 23 216 327 152 The highest priority was afforded to protecting the health and safety of our customers, voluntecrs, and Staff, with strict obseryan¢¢ of safety, cleaning, and hygiene standards. It was a ycar in which we took sto¢k of the bikes, trikes and equipment upon which the continuing success of the organisation will depend. Overall, we are in good shape, but continuing investment in maintenance and in a¢quiring replacement and new equipment to meet our clients. needs will remain a priority. Fund-raising Funding from grants included £24k from Postcode Community Trusl and £35k from Landfill Cornmunities Scheme (both discussed under ovcrview), as well as £2.6k frorn the Co-op and £lk from the Bruce Wake Charitable TThl. The principal fundraising event was the Eaton Hall Christmas Bazaar in November which raised over £4k gross
CYCLING 4 ALL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 (and nearly £2.5k after deducting attributable costs). The donations included £346 in memory of Thelma Blomeley, £150 from Sheila Meadows. and £3.6k from Nigel Reader, raised through his paid perforn]an¢es at care homes and community events. We are immensely grateful to all our donors for their generous support. Volunteers We remain indebted to our volunteers who are crncial to the service we provide. We were blessed with a dedicated and hardworking team of volunteers throughout the year and were inllnensely grateful for their invaluable support through challenging times particularly while waiting for Alex Foden to join as C4A sit¢ manager. We were delighted that C4A was reaccredited by tnvestors in Volunte¢rs during the year. Looking to the Future Our ambilion for next year is to build on the successful recovery we have achieved during 2023-24. Our finances are in good shape and with the invaluable support of our team of professionals and volunteers we are deterniined to consolidate and extend the services we offer. Maintaining and replacing our increasingly ageing fleet of specialist bikes and equipment poses a significant ¢hallenge and will remain a Core priority. The health, safety, and wellbeing of our Gustomers, volunteers and staff will continue lo be our overriding consideralion. STRUCTURE, GOVERNANCE AND MANAGEMEIYT Governlng document The charity is conirolled by its governing document, a dced of trust, and constitutes a limitcd company, limited by guarantee, as defined by the Companies Act 2006. Recruitment and appolntmeDt of llew trustees Any trustee is invited to nominate a potential new trustee that is personally known to and recommended by them. The nominee mu81 be accepted by the majority of existing trustees. The nomAnated person must be a pernlitted person a8 defined by the Charities Act and of relevant skill or knowledge to the benefit of the charity. Trustees are personally responsible for ensuring their skills and knowledge are maintained to a slandard which ¢ncompasses changes in l¢gislation Ampacting on the op¢rational activities of the charity. Organlsatlonal Structure The trnstees who have served during the year and since the year end are set out on page 6. Trnstees are subscribers to th¢ Mcmorandum and Articles of Associalion and the trusl¢¢s arc l¢gally responsible for th¢ ov¢rdll manag¢ment and control of the charity. C4A's Annual General Meeting was held on 2nd August 2023, at which the board confirnied that Nigel Reader should serve as trustee for a second tern] of three years and that Sue Forster had been fonnally appointed as a trustee. Induction and training of neiv trustees New trustees undergo a training process to explain to them their statutory obligations under chaTity and company law, the Memorandum and Articles of Association, the organisational stThcftwe and decision- making process. Trustees are encouraged to atlend suitable external events, where these will enhance the substance and quality of the role they perforni. All trustees. both existing and newly appointed, are required to confrn that they have read and understood, the Charity Commission booklet CC3A, "The essential trustee" and CC3 "The essential trustce, what you need to know"
CYCLING 4 ALL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 Newly elected trustees must understand in detail the ethos, vision and objectives of the charity. REFERENCE AND ADMINISTIUTIVE DETAILS Registered Company number 09433690 (England and Wales) Registered Charity number 1161628 Registered office The Workshop Pla8 Power Road Tanyfron Wrexham LLI15SX REFERENCE AND ADMINISTRATIVE DETAILS Trustees K J Balmer Chariry CEO H E Wright Re(ired N F Reader CBE Retired S Forster Retired INDEPENDEIYT EXAMINERS REPORT TO THE TRUSTEES OF CYCLING 4 ALL ("The Company") I report to the charity trustees on my examination of the accounts of the Company for the year ended 3 1st March 2024. Responsibililies and basls of report As the charity's tystees of the Company (and also its direclors for the purposes of ¢ompany law) you are responsible for the preparation of the accounls in accordanGe with the requirements of the Companies A¢t 2006 {'the 2006 Act,). Having satisfied myself that the accounts of the Company are not required to be audiied under Part 16 of the 2006 Acl and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried oul under Section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my exajnination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 ACL Independent examlner's Statement I have completed my examinalion. I confmn that no matters have come to my attention in connection with the examination giving me cause to believe: l. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 A¢L or 2. tbe accounts do not accord with those records. or 3 the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that th¢ accounts give a true and fair view which is not a matter ¢onsidered as part of an independent examination" or 4 th¢ accounts have not been prepared in a¢cordan¢e with the methods and principles of the Ststement of Recommended Prdctice for accounting and reporting by charities (applicable to charitics preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). I have no concerns and have come across no other matters in Connection with the examination to which
CYCLtNG 4 ALL NOTES TO THE FINANCIAL STATEIVIENTS FOR THE YEAR ENDED 31ST MARCH 2024 attention should be drawn in this report in order to enable a proper UnderSLdIng of the accounts to be rea¢heJJ. Independent Examiner Stewart Platt BA Honours in Finance & Accounting 4 Juniper Close Marford Wrexham LL12 8XH This report has been prepared in accordancc with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by order of the board of trustees on the 10th April 2024 and signed on its behalf by: K J Balmer - Trustee
CYCLING 4 ALL Statement of Financial Activities (INCORPORATtNG AN tNCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31ST MARCH 2024 31.3.24 31.3.23 Total funds Unrestricted funds Restricted funds Notes Total funds INCOME AND ENDOWMENTS FROM Donations and legacies Activities for generating fiu Other trading activities 5,771 4,368 9,865 62,695 68,466 4,368 9,865 17,849 7,839 11,913 Total 20,004 62,695 82,699 37.601 EXPENDITURE ON Raising funds Charltable Activlties Overheads Project Delivery 2,030 2,030 4,950 16,227 2,178 18,405 20,511 25,780 25,780 3,527 Total 18,257 27,958 46,215 28,988 NET INCOMEI(EXPENDITURE) 1,747 34,737 36,484 8,613 RECONCILTION OF FUNDS Totsl funds brought forward 15.231 8,721 23,952 15,339 TOTAL FUNDS CARRIED FORWARD 16,978 43,458 60,436 23,952 The notes fonn part of these fmancial statements
CYCLtNG 4 ALL Balanee Sheet AT 315T MARCH 2024 31.3.24 31.3.23 Total Unrestricted funds Restricted Total fuuds Notes FIXED ASSETS Tangible assets io 3,170 640 3,810 4,408 CURRENT ASSETS Debtors Cash at bank 1,567 21,339 1,567 64,157 610 18,934 42,818 22,906 42,818 65,724 19,544 CREDITORS Amounts falling due within one year 12 (9,098) (9,098) NET CUIUiENT ASSETS 13,808 42,818 56.626 19,544 TOTAL ASSETS LESS CURRENT LIABILITIES 16,978 43,458 60,436 23,952 NET ASSETS 16,978 43,458 60,436 23,952 FUNDS Unrestricted funds Restricted funds 13 16.978 43,458 15,231 8,721 TOTAL FUNDS 60,436 23,952 The charitable company 18 entitled to exemption from audit under Se¢tion 477 of the Companies Act 2006 for the year ended 31st March 2024. The members havc not required the company to obiain an audit of its fmancial statements for the year ended 3 1st Mah 2024 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for (a) en8uring that the charitable company keep8 accounting records that comply with Sections 386 and 387 of thc Companies Act 2006 and (b) prepar1t flllancial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each fmancial year and of its surplus or deficit for each fuwicial year in accordance with the requiremenls of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to fmancial statements, so far as applicable to the charitable company. These fmancial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to Gharitable small companies. The financial statements were approved by the Board of Trustees on the 10 April 2024 and were signed on its behalf K J BaleT - Trustee The notes forni part of these fllW]cial statements
CYCLING 4 ALL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 Notes to the Financial Statements STATUTORY INFORMATION Basls of preparlng the fwancial statements Cycling 4 All is controlled by its goveming document, a deed of trust and constitutes a lirnited company, limited by guarantee which is registered in England and Wales. The registered number and registered office address can be found within the Report of the Trustees. Th¢ presentational currency of the financial 8tat¢ments is in Pound St¢rling (£). ACCOUNTING POLICIES Basls of preparlng the fwaneial statements The fmancial statements of the charitable compony, which is a public benefit entity under FRS 102, have been prepared in accordancc with the Charilies SORP (FRS 102) 'Accounting and Reporting by Chaiities: Statement of Recommcnded Prdctice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) {effective l January 2015),, Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial stalements have been prepared under the historical cost convention. Income All income is recognised in the Statement of Financial Activilies once the charity has entitlemcnt to the funds, it is probable that the income will be received, and the amount can be measured reliably. Expendlture Liabilities are recognised as expenditure as Soon as there is a legal or constrnctive obligation committing the charity to that expenditure, il is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under hcadittgs that aggregate all costs related to the ca*gory. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of r¢sources Tangible flxed as$et$ Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life, Specialised bikes IT & Office Equipment 20/0 on cost 20 % on Cost TaxatlOD The charity is exempt from corporation tax on its charitable activities. Fund accounting Unrestricted funds can be used in a¢¢ordance with the charitsble objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted Pu08eS within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the fmancial statements. io
CYCLING 4 ALL NOTES TO THE FIIYANCIAL STATEMENTS FOR THE YEAR ENDED 31ST IVIARCH 2024 DONATIONS AND LEGACIES 31.3.24 31.3.23 Douations Grants 5,771 62,695 12,405 68,466 17,849 Grants received, included in the above, are as follows: Postcode Community Grant Landfill Tax Brnce Wake Charitsble Trust Coop KFC Comic Relief Harlech Foods 23,871 35,222 1,000 2,602 1,999 9,906 500 12,405 62,695 ACTIVITIES FOR GENERATING FUNDS 31.3.24 31.3.23 Fundraising Events 4,368 7,839 4,368 7,839 TRADING ACTIVITIES 31.3.24 31.3.23 Ride Income Bicycle Sales Insuran¢e Claim 9,535 330 8,607 3,306 9,865 11,913 RAISING FUNDS Raising donatlons and legaeles: 31,3,24 31.3.23 Support Costs 12,405 20,511 NET INCOME/(EXPENDITURE) Net incomel(expenditure) is slaled after chargingl(crediting)'. 31.3.24 31.3.23 Depreciation - owned assets 477 209 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 3 1st March 2024 nor for the year ended 31st March 2023. Trustees, expenses There were no trustees, expenses paid for the year ended 318tMarch2024 nor foT the year ended 31st March 2023.
CYCLING 4 ALL NOTES TO THE FINANCIAL STATEMENTS FOR TIIE YEAR ENDED 31ST MARCH 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES 2022-23 Unrestricted Restricted Fund8 Funds Totsl Funds INCOME AIYD ENDOWMENTS FROM Donations and legacies Activities for Generating Funds Other trading activities 5,944 7.839 11,913 11,905 17,849 7,839 11,913 Total 25,696 11,905 37,601 EXPENDITURE ON Raising fvnds ChArit&ble Aetlvltles Overheads Project tklivery 4,950 4.950 20,184 327 3,527 20,511 3,527 Total 25,134 3,854 28,988 NET INCOME 562 8,051 8,613 RECONCILIATIOIW4 OF FUNDS Total funds brought forTrvard 14,669 670 15.339 TOTAL FUNDS CARRIED FORWARD 15.231 8,721 23,952 Specialist bikes IT& website Total 10. TANGIBLE FIXED ASSETS Cost Additions Disposals At 3151 March 2024 4,455 1,108 5,563 (120) 998 (120) 5,443 4,455 Depreciation At 31.03.2023 555 600 1,155 Charge for the Year 89 388 477 At 3 Isi March 2024 988 1,632 NET BOOK VALUE Net Book Value at 3 1st March 2024 N¢1 Book Value at 31" March 2023 3,811 3,900 3,811 4.408 508 12
CYCLING 4 ALL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 DEBTORS: AMOUNTS FALLING DUE TllIN ONE YEAR 31.3.24 31.3.23 Trade debtors Prepayments 1.505 62 1,567 31.3.24 610 610 31.3.23 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Accruals and deferred income 7,943 1,155 9,098 13. MOVEMENT IN FUNDS Net movement In funds At 1.4.23 At 31.3.24 Unrestricted fijnds Restricted Funds 15,231 8,721 L,747 34,737 16,978 43,458 TOTAL FUNDS 23,952 36,484 60,436 Net movement in funds. included in the above arc as follows: IneominE resources Resource5 expended Movement In funds Unrestricted fimds Restricted Fund$ 20,004 62,695 18,257 27,958 1,747 34,737 TOTAL FUNDS 82,699 46,215 36,484 Comparative$ for movement In fund8 Iyet movement in funds At 1.4.22 At 31J.23 Unrestricted funds RestrACted Funds 14,669 670 562 8,051 15,231 8,721 TOTAL FUNDS 15,339 8,613 23,952 Incoming resources Resource5 expended Movement In funds Unrestricted fimds Restricted funds 25,696 11,905 25,134 3,854 562 8,051 TOTAL FUNDS 37,601 28,988 8.613 13
CYCLING 4 ALL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 31.3.24 31.3.23 14. CAPITAL COlk[MmENTs Contracted but not provided for in the fmancial statements 15. RELATED PARTY DISCLOSURES During the year Cycling 4 All paid staff salary costs and running costs amounting to £23,155 (2023: £12,792) tr) Groundwork North Wales for two members of staff seconded the delivery of the cycling service and grant funded activity. A director of Cycling for All is also the CEO of Groundwork North Wales. 14