REGISTERED CHARITY NUMBER: 1169286
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 January 2022
for
Leicester Wheels For All
Leicester Wheels For All
Contents of the Financial Statements for the Year Ended 31 January 2022
| 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 | 11 |
| Detailed Statement of Financial Activities | 12 |
Leicester Wheels For All
Report of the Trustees for the Year Ended 31 January 2022
The trustees present their report with the financial statements of the charity for the year ended 31 January 2022. 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
The object of the CIO is the promotion of community participation in healthy recreation for the benefit of the inhabitants of Leicester, Leicestershire and Rutland by the provision of facilities for cycling.
Significant activities
Leicester Wheels For All (LWFA) achieves its object 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
During the year LWFA delivered 107 sessions including the regular repeat events at Braunstone Leisure Centre, Saffron Lane Stadium, Ride Leicester Festivals, Open Streets, to special schools, higher education institutions, care homes and care giving organisations. The events were well received by our client organisations and participants. We also joined forces with the De Montfort University Castle Business School to investigate how we might improve parts of our core organization tasks.
FINANCIAL REVIEW
Financial position
Total incoming resources were £25,208 (2021: £15,483). After deducting expenditure of £26,939 (2021: £11,405) there was net expenditure of £1,731 (2021: net income of £4,078) for the year.
As at 31 January 2022, the Charity had total funds of £45,121 (2021: £46,852), £10,646 (2021: £12,800) of which was held in restricted funds to be used for running cycling events.
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 is controlled by its constitution as registered with the Charity Commission on 20 September 2016 and as amended on 8 December 2018.
Induction and training of new trustees
In selecting individuals for appointment, the charity trustees have regard to the skills, knowledge and experience needed for the effective administration of the CIO.
The charity trustees will make available to each new charity trustee, on or before their first appointment; a) a copy of the current version of the constitution
b) a copy of the latest Trustees' Report and financial statements
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1169286
Page 1
Leicester Wheels For All
Report of the Trustees
for the Year Ended 31 January 2022
Principal address
8 Lyn Close Leicester Leicestershire LE3 9QX
Trustees
P J Simmonds - Chair (resigned 23.3.22) J R B Wells-Cole - Treasurer L M Goddard - Secretary (resigned 22.1.22) C R Hammond (appointed 15.2.22) C D Traill (appointed 23.3.22)
Independent Examiner
torr waterfield Park House 37 Clarence Street Leicester Leicestershire LE1 3RW
Approved by order of the board of trustees on 9 September 2022 and signed on its behalf by:
J R B Wells-Cole - Trustee
Page 2
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 2022.
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:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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
22 September 2022
Page 3
Leicester Wheels For All
Statement of Financial Activities for the Year Ended 31 January 2022
| Unrestricted Restricted fund funds Notes £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 742 19,542 Charitable activities Cycling events 4,924 - Total 5,666 19,542 EXPENDITURE ON Charitable activities 4 Cycling events 5,243 21,696 NET INCOME/(EXPENDITURE) 423 (2,154) RECONCILIATION OF FUNDS Total funds brought forward 34,052 12,800 TOTAL FUNDS CARRIED FORWARD 34,475 10,646 |
31.1.22 31.1.21 Total Total funds funds £ £ 20,284 15,318 4,924 165 25,208 15,483 26,939 11,405 (1,731) 4,078 46,852 42,774 45,121 46,852 |
31.1.22 31.1.21 Total Total funds funds £ £ 20,284 15,318 4,924 165 25,208 15,483 26,939 11,405 (1,731) 4,078 46,852 42,774 45,121 46,852 |
|---|---|---|
| 15,483 | ||
| 11,405 4,078 42,774 |
||
| 46,852 |
The notes form part of these financial statements
Page 4
Leicester Wheels For All
Balance Sheet
31 January 2022
| Unrestricted Restricted fund funds Notes £ £ FIXED ASSETS Tangible assets 10 20,669 - CURRENT ASSETS Debtors 11 258 945 Cash at bank and in hand 14,208 9,701 14,466 10,646 CREDITORS Amounts falling due within one year 12 (660) - NET CURRENT ASSETS 13,806 10,646 TOTAL ASSETS LESS CURRENT LIABILITIES 34,475 10,646 NET ASSETS 34,475 10,646 FUNDS 13 Unrestricted funds Restricted funds TOTAL FUNDS |
31.1.22 Total funds £ 20,669 1,203 23,909 25,112 (660) 24,452 45,121 45,121 34,475 10,646 45,121 |
31.1.21 Total funds £ 21,675 - 25,838 25,838 (661) 25,177 46,852 46,852 34,052 12,800 46,852 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 9 September 2022 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 2022
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.
Financial reporting standard 102 - reduced disclosure exemptions
The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
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.
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.
Allocation and apportionment of costs
During the years ended 31 January 2022 and 31 January 2021, all costs were 100% attributable to the Charity's sole activity, the provision of cycling sessions.
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.
Page 6
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Leicester Wheels For All
Notes to the Financial Statements - continued for the Year Ended 31 January 2022
1. ACCOUNTING POLICIES - continued
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective rate of interest method, less any impairment.
Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Going concern
After reviewing the charity's forecasts and projections, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing the financial statements.
Government grants
Government grants receivable are recognised in accordance with the performance model.
2. DONATIONS AND LEGACIES
| Donations Grants Grants received, included in the above, are as follows: Sports England Leicestershire County Council Cycling Touring Club Bruce Wake Trust Leicester Christian Medical Leicester and Rutland Masons Arnold Clarke Automotive The Henry Smith Charity Market Harborough and the Bowdens Charity |
31.1.22 £ 742 19,542 20,284 31.1.22 £ 4,590 3,000 3,000 3,000 2,952 2,000 1,000 - - 19,542 |
31.1.21 £ 1,439 13,879 |
|---|---|---|
| 15,318 | ||
| 31.1.21 £ - 999 - - - - - 10,000 2,880 |
||
| 13,879 |
Government grants of £3,000 were received during the year towards running cycling events. No performance-related conditions were placed on the grant.
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Leicester Wheels For All
Notes to the Financial Statements - continued for the Year Ended 31 January 2022
| 3. INCOME FROM CHARITABLE ACTIVITIES 31.1.22 3 Activity £ Booking charges Cycling events 4,924 4. CHARITABLE ACTIVITIES COSTS Support Direct costs (see Costs note 5) £ £ Cycling events 19,861 7,078 5. SUPPORT COSTS Management Governance £ £ Cycling events 6,418 660 6. INDEPENDENT EXAMINER'S REMUNERATION 31.1.22 £ Independent Examiner's Fees - External scrutiny and report 132 Independent Examiner's Fees - Accountancy and taxation services 528 660 |
3. INCOME FROM CHARITABLE ACTIVITIES 31.1.22 3 Activity £ Booking charges Cycling events 4,924 4. CHARITABLE ACTIVITIES COSTS Support Direct costs (see Costs note 5) £ £ Cycling events 19,861 7,078 5. SUPPORT COSTS Management Governance £ £ Cycling events 6,418 660 6. INDEPENDENT EXAMINER'S REMUNERATION 31.1.22 £ Independent Examiner's Fees - External scrutiny and report 132 Independent Examiner's Fees - Accountancy and taxation services 528 660 |
3. INCOME FROM CHARITABLE ACTIVITIES 31.1.22 3 Activity £ Booking charges Cycling events 4,924 4. CHARITABLE ACTIVITIES COSTS Support Direct costs (see Costs note 5) £ £ Cycling events 19,861 7,078 5. SUPPORT COSTS Management Governance £ £ Cycling events 6,418 660 6. INDEPENDENT EXAMINER'S REMUNERATION 31.1.22 £ Independent Examiner's Fees - External scrutiny and report 132 Independent Examiner's Fees - Accountancy and taxation services 528 660 |
1.1.21 £ 165 Totals £ 26,939 Totals £ 7,078 |
|---|---|---|---|
| 31.1.22 | 31.1.21 | ||
| £ | £ | ||
| 132 | 132 | ||
| 528 | 528 | ||
| 660 | 660 | ||
7. TRUSTEES' REMUNERATION AND BENEFITS
During the year ended 31 January 2022, two (2021: no) trustees received total payments of £3,956 (2021: £nil) for services provided to the charity.
P Simmons was paid £1,279 and R Wells-Cole was paid £2,677 for being Session Leaders for events organised by the Charity.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 January 2022 nor for the year ended 31 January 2021.
8. STAFF COSTS
There were no staff costs for the year ended 31 January 2022, nor for the year ended 31 January 2021, and therefore no employees received emoluments in excess of £60,000.
AVERAGE NUMBER OF EMPLOYEES
The average number of employees during the year was nil (2021 - nil).
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Leicester Wheels For All
Notes to the Financial Statements - continued for the Year Ended 31 January 2022
| 9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 1,439 Charitable activities Cycling events 165 Total 1,604 EXPENDITURE ON Charitable activities Cycling events 4,875 NET INCOME/(EXPENDITURE) (3,271) Transfers between funds 999 Net movement in funds (2,272) RECONCILIATION OF FUNDS Total funds brought forward 36,324 TOTAL FUNDS CARRIED FORWARD 34,052 10. TANGIBLE FIXED ASSETS Cycle fleet £ COST At 1 February 2021 20,410 Additions 2,900 At 31 January 2022 23,310 DEPRECIATION At 1 February 2021 5,035 Charge for year 2,331 At 31 January 2022 7,366 NET BOOK VALUE At 31 January 2022 15,944 At 31 January 2021 15,375 |
Restricted funds £ 13,879 - 13,879 6,530 7,349 (999) 6,350 6,450 12,800 Motor vehicle £ 8,400 - 8,400 2,100 1,575 3,675 4,725 6,300 |
Total funds £ 15,318 165 15,483 11,405 4,078 - 4,078 42,774 46,852 Totals £ 28,810 2,900 31,710 7,135 3,906 11,041 20,669 21,675 |
Total funds £ 15,318 165 |
|---|---|---|---|
| 15,483 | |||
| 11,405 4,078 - |
|||
| 4,078 42,774 |
|||
| 46,852 |
Page 9
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Leicester Wheels For All
Notes to the Financial Statements - continued for the Year Ended 31 January 2022
| 11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
|---|---|---|---|---|---|---|
| 31.1.22 | 31.1.21 | |||||
| £ | £ | |||||
| Prepayments and accrued income | 1,203 | - | ||||
| 12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||||
| 31.1.22 | 31.1.21 | |||||
| £ | £ | |||||
| Accrued expenses | 660 | 661 | ||||
| 13. | MOVEMENT IN FUNDS | |||||
| Net | ||||||
| movement | At | |||||
| At 1.2.21 | in funds | 31.1.22 | ||||
| £ | £ | £ | ||||
| Unrestricted funds | ||||||
| General fund | 34,052 | 423 | 34,475 | |||
| Restricted funds | ||||||
| Operations | 12,800 | (2,154) | 10,646 | |||
| TOTAL FUNDS | 46,852 | (1,731) | 45,121 | |||
| Net movement in funds, included in the above are as follows: | ||||||
| Incoming | Resources | Movement | ||||
| resources | expended | in funds | ||||
| £ | £ | £ | ||||
| Unrestricted funds | ||||||
| General fund | 5,666 | (5,243) | 423 | |||
| Restricted funds | ||||||
| Operations | 19,542 | (21,696) | (2,154) | |||
| TOTAL FUNDS | 25,208 | (26,939) | (1,731) | |||
| Comparatives for movement in funds | ||||||
| Net | Transfers | |||||
| movement | between | At | ||||
| At 1.2.20 | in funds | funds | 31.1.21 | |||
| £ | £ | £ | £ | |||
| Unrestricted funds | ||||||
| General fund | 36,324 | (3,271) | 999 | 34,052 | ||
| Restricted funds | ||||||
| Equipment | - | 999 | (999) | - | ||
| Operations | 6,450 | 6,350 | - | 12,800 | ||
| 6,450 | 7,349 | (999) | 12,800 | |||
| TOTAL FUNDS | 42,774 | 4,078 | - | 46,852 |
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Leicester Wheels For All
Notes to the Financial Statements - continued for the Year Ended 31 January 2022
13. MOVEMENT IN FUNDS - continued
Comparative 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 |
The nature of each of the restricted funds is set out below:
Equipment
The charity receives grants to enable the purchase of equipment. Where there is no restriction placed on the equipment's on-going use, the grants are held as restricted funds until the purchase of equipment has taken place and then subsequently transferred to unrestricted funds to reflect the charity's ability to use the asset on an unrestricted basis. Where the charity is required to hold the asset acquired on an on-going basis for a specific purpose, the net book value of the asset will be shown in an appropriate restricted fund.
Operations
A number of grants have been received towards running cycling events. Total grants of £19,542 were received during the year ended 31 January 2022 to add to the brought forward balance of £12,800. £21,696 has been spent on running events during the year, leaving £10,646 unexpended as at 31 January 2022 to use towards future events.
14. RELATED PARTY DISCLOSURES
The transactions that took place with trustees of the charity are disclosed within the Trustees' Remuneration and Benefits note.
There were no further related party transactions for the year ended 31 January 2022 nor for the year ended 31 January 2021.
Page 11
Leicester Wheels For All
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 31 January 2022 | ||
| 31.1.22 | 31.1.21 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 742 | 1,439 |
| Grants | 19,542 | 13,879 |
| 20,284 | 15,318 | |
| Charitable activities | ||
| Booking charges | 4,924 | 165 |
| Total incoming resources | 25,208 | 15,483 |
| EXPENDITURE | ||
| Charitable activities | ||
| Session leaders | 13,712 | 1,221 |
| Maintenance and repairs | 1,435 | 190 |
| Venue hire | 2,383 | 273 |
| Cycle fleet depreciation | 2,331 | 2,041 |
| 19,861 | 3,725 | |
| Support costs | ||
| Management | ||
| General insurance | 1,711 | 1,668 |
| Advertising and promotion | 100 | 42 |
| Sundries | 577 | 144 |
| Motor expenses | 1,469 | 2,926 |
| Motor insurance | 986 | 1,049 |
| Motor vehicle depreciation | 1,575 | 2,100 |
| Profit on disposal of motor vehicle | - | (909) |
| 6,418 | 7,020 | |
| Governance | ||
| Independent Examiner's Fees | 660 | 660 |
| Total resources expended | 26,939 | 11,405 |
| Net (expenditure)/income | (1,731) | 4,078 |
This page does not form part of the statutory financial statements
Page 12