REGISTERED CHARITY NUMBER: 1169286
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 January 2021
for
Leicester Wheels For All
Leicester Wheels For All
Contents of the Financial Statements for the Year Ended 31 January 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 12 |
Leicester Wheels For All
Report of the Trustees for the Year Ended 31 January 2021
The trustees present their report with the financial statements of the charity for the year ended 31 January 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
Leicester Wheels For All (LWFA) will, in everything it does, enable our participants to have safe access to many types of cycles and cycling thereby promoting greater inclusion and increased well-being to the people of Leicester, Leicestershire and Rutland.
Significant activities
LWFA achieves its aims by delivering supervised cycling sessions at a number of leisure centres and similar venues.
Public benefit
The Trustees have due regard for the guidance published by the Charity Commission on public benefit and consider that all activities undertaken are in accordance with that guidance.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
This was a very difficult year with disruption due to coronavirus (COVID-19). There was a long period of inactivity between March and August and again in November.
Events were restarted as soon as permitted but take-up was initially relatively low. In spite of this, a considerable number of successful cycling sessions have taken place.
FINANCIAL REVIEW
Financial position
The financial statements give an adequate review of the financial activities for the year and of the financial position at the end of the year.
Reserves policy
The Trustees do not consider that the charity needs to retain significant reserves. The level of reserves is regularly monitored in order to ensure that the charity can complete any activities to which it is already committed.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is a Charitable Incorporated Organisation (CIO) and was registered on 20 September 2016.
The charity is controlled by its constitution as registered with the Charity Commission.
Induction and training of new trustees
The Trustees do not consider that there is currently a need to recruit additional trustees.
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Leicester Wheels For All
Report of the Trustees for the Year Ended 31 January 2021
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1169286
Principal address
8 Lyn Close Leicester Leicestershire LE3 9QX
Trustees
P J Simmonds - Chair J R B Wells-Cole - Treasurer L M Goddard - Secretary
Independent Examiner
torr waterfield Park House 37 Clarence Street Leicester Leicestershire LE1 3RW
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed 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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website.
Approved by order of the board of trustees on 23 July 2021 and signed on its behalf by:
J R B Wells-Cole - Trustee
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Independent Examiner's Report to the Trustees of Leicester Wheels For All
Independent examiner's report to the trustees of Leicester Wheels For All
I report to the charity trustees on my examination of the accounts of Leicester Wheels For All (the Trust) for the year ended 31 January 2021.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mark Andrew Torr torr waterfield Park House 37 Clarence Street Leicester Leicestershire LE1 3RW
23 July 2021
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Leicester Wheels For All
Statement of Financial Activities for the Year Ended 31 January 2021
| Unrestricted Restricted fund funds Notes £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 1,439 13,879 Charitable activities Cycling events 165 - Other trading activities 3 - - Total 1,604 13,879 EXPENDITURE ON Charitable activities 4 Cycling events 4,875 6,530 NET INCOME/(EXPENDITURE) (3,271) 7,349 Transfers between funds 13 999 (999) Net movement in funds (2,272) 6,350 RECONCILIATION OF FUNDS Total funds brought forward 36,324 6,450 TOTAL FUNDS CARRIED FORWARD 34,052 12,800 |
31.1.21 31.1.20 Total Total funds funds £ £ 15,318 37,605 165 10,382 - 100 15,483 48,087 11,405 23,913 4,078 24,174 - - 4,078 24,174 42,774 18,600 46,852 42,774 |
31.1.21 31.1.20 Total Total funds funds £ £ 15,318 37,605 165 10,382 - 100 15,483 48,087 11,405 23,913 4,078 24,174 - - 4,078 24,174 42,774 18,600 46,852 42,774 |
|---|---|---|
| 48,087 23,913 |
||
| 24,174 - |
||
| 24,174 18,600 |
||
| 42,774 |
The notes form part of these financial statements
Page 4
Leicester Wheels For All
Balance Sheet
31 January 2021
| Unrestricted Restricted fund funds Notes £ £ FIXED ASSETS Tangible assets 10 21,675 - CURRENT ASSETS Debtors 11 - - Cash at bank and in hand 13,038 12,800 13,038 12,800 CREDITORS Amounts falling due within one year 12 (661) - NET CURRENT ASSETS 12,377 12,800 TOTAL ASSETS LESS CURRENT LIABILITIES 34,052 12,800 NET ASSETS 34,052 12,800 FUNDS 13 Unrestricted funds Restricted funds TOTAL FUNDS |
31.1.21 Total funds £ 21,675 - 25,838 25,838 (661) 25,177 46,852 46,852 34,052 12,800 46,852 |
31.1.20 Total funds £ 25,355 667 17,382 18,049 (630) 17,419 42,774 42,774 36,324 6,450 42,774 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 23 July 2021 and were signed on its behalf by:
J R B Wells-Cole - Trustee
The notes form part of these financial statements
Page 5
Leicester Wheels For All
Notes to the Financial Statements for the Year Ended 31 January 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Donations in kind are included as income where the trustees consider that a realistic estimate of market value can be quantified with reasonable accuracy.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it 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 headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Donations in kind are included as expenditure at the value recognised as income.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Cycle fleet - 10% on cost Motor vehicle - 25% on reducing balance
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds 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.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
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Leicester Wheels For All
Notes to the Financial Statements - continued for the Year Ended 31 January 2021
| 2. DONATIONS AND LEGACIES 31.1.21 £ Donations 1,439 Grants 13,879 15,318 Grants received, included in the above, are as follows: 31.1.21 £ The Henry Smith Charity 10,000 Market Harborough and the Bowdens Charity 2,880 Leicestershire County Council 999 National Lottery Community Fund - Western Park Beer Festival - Leicestershire and Rutland Community Foundation - Barrett Homes - The Co-Operative Society - 13,879 3. OTHER TRADING ACTIVITIES 31.1.21 £ Miscellaneous income - 4. CHARITABLE ACTIVITIES COSTS Support Direct costs (see Costs note 5) £ £ Cycling events 3,725 7,680 5. SUPPORT COSTS Management Governance £ £ Cycling events 7,020 660 6. INDEPENDENT EXAMINER'S REMUNERATION 31.1.21 £ Independent Examiner's Fees - External scrutiny and report 132 Independent Examiner's Fees - Accountancy and taxation services 528 660 |
2. DONATIONS AND LEGACIES 31.1.21 £ Donations 1,439 Grants 13,879 15,318 Grants received, included in the above, are as follows: 31.1.21 £ The Henry Smith Charity 10,000 Market Harborough and the Bowdens Charity 2,880 Leicestershire County Council 999 National Lottery Community Fund - Western Park Beer Festival - Leicestershire and Rutland Community Foundation - Barrett Homes - The Co-Operative Society - 13,879 3. OTHER TRADING ACTIVITIES 31.1.21 £ Miscellaneous income - 4. CHARITABLE ACTIVITIES COSTS Support Direct costs (see Costs note 5) £ £ Cycling events 3,725 7,680 5. SUPPORT COSTS Management Governance £ £ Cycling events 7,020 660 6. INDEPENDENT EXAMINER'S REMUNERATION 31.1.21 £ Independent Examiner's Fees - External scrutiny and report 132 Independent Examiner's Fees - Accountancy and taxation services 528 660 |
2. DONATIONS AND LEGACIES 31.1.21 £ Donations 1,439 Grants 13,879 15,318 Grants received, included in the above, are as follows: 31.1.21 £ The Henry Smith Charity 10,000 Market Harborough and the Bowdens Charity 2,880 Leicestershire County Council 999 National Lottery Community Fund - Western Park Beer Festival - Leicestershire and Rutland Community Foundation - Barrett Homes - The Co-Operative Society - 13,879 3. OTHER TRADING ACTIVITIES 31.1.21 £ Miscellaneous income - 4. CHARITABLE ACTIVITIES COSTS Support Direct costs (see Costs note 5) £ £ Cycling events 3,725 7,680 5. SUPPORT COSTS Management Governance £ £ Cycling events 7,020 660 6. INDEPENDENT EXAMINER'S REMUNERATION 31.1.21 £ Independent Examiner's Fees - External scrutiny and report 132 Independent Examiner's Fees - Accountancy and taxation services 528 660 |
31.1.20 £ 2,708 34,897 37,605 31.1.20 £ - - 13,500 9,690 4,800 2,880 2,500 1,527 34,897 31.1.20 £ 100 Totals £ 11,405 Totals £ 7,680 |
|---|---|---|---|
| 31.1.21 | 31.1.20 | ||
| £ | £ | ||
| 132 | 120 | ||
| 528 | 510 | ||
| 660 | 630 | ||
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Leicester Wheels For All
Notes to the Financial Statements - continued for the Year Ended 31 January 2021
7. TRUSTEES' REMUNERATION AND BENEFITS
There was no trustees' remuneration for the year ended 31 January 2021 nor for the year ended 31 January 2020.
No (2020: One) trustee received payment (2020: £698) for services as a session leader for cycling events organised by the charity. These payments were made in accordance with the charity's constitution.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 January 2021 nor for the year ended 31 January 2020.
8. STAFF COSTS
There were no staff costs for the year ended 31 January 2021, nor for the year ended 31 January 2020, and therefore no employees received emoluments in excess of £60,000.
9.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted Restricted fund funds £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 4,705 32,900 Charitable activities Cycling events 10,382 - Other trading activities 100 - Total 15,187 32,900 EXPENDITURE ON Charitable activities Cycling events 14,263 9,650 NET INCOME 924 23,250 Transfers between funds 16,800 (16,800) Net movement in funds 17,724 6,450 RECONCILIATION OF FUNDS Total funds brought forward 18,600 - TOTAL FUNDS CARRIED FORWARD 36,324 6,450 |
Total funds £ 37,605 10,382 100 |
|---|---|
| 48,087 23,913 |
|
| 24,174 - |
|
| 24,174 18,600 |
|
| 42,774 |
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Leicester Wheels For All
Notes to the Financial Statements - continued for the Year Ended 31 January 2021
| 10. TANGIBLE FIXED ASSETS Cycle Motor fleet vehicle £ £ COST At 1 February 2020 19,358 11,988 Additions 1,052 8,400 Disposals - (11,988) At 31 January 2021 20,410 8,400 DEPRECIATION At 1 February 2020 2,994 2,997 Charge for year 2,041 2,100 Eliminated on disposal - (2,997) At 31 January 2021 5,035 2,100 NET BOOK VALUE At 31 January 2021 15,375 6,300 At 31 January 2020 16,364 8,991 11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.1.21 £ Event charges - Other debtors - - 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.1.21 £ Accrued expenses 661 13. MOVEMENT IN FUNDS Net Transfers movement between At 1.2.20 in funds funds £ £ £ Unrestricted funds General fund 36,324 (3,271) 999 Restricted funds Equipment - 999 (999) Operations 6,450 6,350 - 6,450 7,349 (999) TOTAL FUNDS 42,774 4,078 - |
Totals £ 31,346 9,452 (11,988) 28,810 5,991 4,141 (2,997) 7,135 21,675 25,355 31.1.20 £ 90 577 667 31.1.20 £ 630 At 31.1.21 £ 34,052 - 12,800 12,800 46,852 |
|---|---|
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Leicester Wheels For All
Notes to the Financial Statements - continued for the Year Ended 31 January 2021
13. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 1,604 | (4,875) | (3,271) |
| Restricted funds | |||
| Equipment | 999 | - | 999 |
| Operations | 12,880 | (6,530) | 6,350 |
| 13,879 | (6,530) | 7,349 | |
| TOTAL FUNDS | 15,483 | (11,405) | 4,078 |
Comparatives for movement in funds
| Unrestricted funds General fund Restricted funds Equipment Operations TOTAL FUNDS |
Net Transfers movement between At 1.2.19 in funds funds £ £ £ 18,600 924 16,800 - 16,800 (16,800) - 6,450 - - 23,250 (16,800) 18,600 24,174 - |
At 31.1.20 £ 36,324 - 6,450 |
|---|---|---|
| 6,450 | ||
| 42,774 |
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 15,187 | (14,263) | 924 |
| Restricted funds | |||
| Donated services | 2,030 | (2,030) | - |
| Equipment | 16,800 | - | 16,800 |
| Operations | 14,070 | (7,620) | 6,450 |
| 32,900 | (9,650) | 23,250 | |
| TOTAL FUNDS | 48,087 | (23,913) | 24,174 |
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Leicester Wheels For All
Notes to the Financial Statements - continued for the Year Ended 31 January 2021
13. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Equipment Operations TOTAL FUNDS |
Net Transfers movement between At 1.2.19 in funds funds £ £ £ 18,600 (2,347) 17,799 - 17,799 (17,799) - 12,800 - - 30,599 (17,799) 18,600 28,252 - |
At 31.1.21 £ 34,052 - 12,800 |
|---|---|---|
| 12,800 | ||
| 46,852 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 16,791 | (19,138) | (2,347) |
| Restricted funds | |||
| Donated services | 2,030 | (2,030) | - |
| Equipment | 17,799 | - | 17,799 |
| Operations | 26,950 | (14,150) | 12,800 |
| 46,779 | (16,180) | 30,599 | |
| TOTAL FUNDS | 63,570 | (35,318) | 28,252 |
The nature of each of the restricted funds is set out below:
Donated services
Where donations in kind are received by the charity , and the income and expenditure are recognised in accordance with the stated accounting policies, then the income and related expense are treated as restricted.
Equipment
The charity has received a number of grants to enable the purchase of equipment.
Operations
Grants have been received towards specific events organised by the charity.
Transfers between funds
Where the charity has received grants for the purchase of items of equipment, the trustees consider that the purchase of the equipment completes the obligations under the initial grants and therefore the funds can be transferred to the general fund.
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Leicester Wheels For All
Notes to the Financial Statements - continued for the Year Ended 31 January 2021
14. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 January 2021.
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