REGISTERED CHARITY NUMBER: 1169286
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 January 2024
for
Leicester Wheels For All
Leicester Wheels For All
Contents of the Financial Statements for the Year Ended 31 January 2024
| 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 |
Leicester Wheels For All
Report of the Trustees for the Year Ended 31 January 2024
The trustees present their report with the financial statements of the charity for the year ended 31 January 2024. 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
This year we delivered 137 events across Leicester and Leicestershire and we had an amazing 6,237 people attend. This is our highest figure ever, both in terms of events delivered and people attending. We also launched a brand new event, taking wheelchair users on our specially adapted trikes along a cycle track from the heart of Leicester to the outskirts of the city. Everyone was amazed as we pedalled by, as these machines are rarely seen.
The city council also asked us to take part in their "Get up and Go"
events. They run these at Children and Young People centres to encourage children to be active during the summer holidays. Our presence meant that the events were truly inclusive, so that all children, no matter what their disability, could take part.
Alongside all this we ran our regular public events at Abbey Park, Saffron Lane Athletics Stadium and Braunstone Leisure Centre, as well as at other cycling events organised by the city council, again ensuring that they were fully inclusive. Similarly, SEND students at city and county special schools had the opportunity to experience the fun and independence of cycling thanks to our outreach sessions there.
So all in all this year was a very busy, exciting and rewarding year for us and for our clients
FINANCIAL REVIEW
Financial position
Total incoming resources were £51,067 (2023: £30,903). After deducting expenditure of £46,301 (2023: £27,720) there was net income of £4,766 (2023: net income of £3,183) for the year.
As at 31 January 2024, the Charity had total funds of £53,070 (2023: £48,304), £9,500 (2023: £2,306) 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.
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Leicester Wheels For All
Report of the Trustees for the Year Ended 31 January 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT 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
Principal address
82 Letchworth Road Leicester Leicestershire LE3 6FH
Trustees
J R B Wells-Cole - Treasurer C R Hammond C D Traill - Chair M Ballantyne (appointed 20.10.23) L Copley-Jones (appointed 20.10.23) M Bassford (appointed 20.10.23) K Mullins (appointed 20.10.23)
Independent Examiner
torr waterfield Park House 37 Clarence Street Leicester Leicestershire LE1 3RW
Approved by order of the board of trustees on 15 November 2024 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 2024.
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
15 November 2024
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Leicester Wheels For All
Statement of Financial Activities for the Year Ended 31 January 2024
| Unrestricted Restricted fund funds Notes £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 2,520 26,800 Charitable activities 4 Cycling events 21,432 - Investment income 3 315 - Other income - - Total 24,267 26,800 EXPENDITURE ON Charitable activities 5 Cycling events 26,695 19,606 NET INCOME/(EXPENDITURE) (2,428) 7,194 RECONCILIATION OF FUNDS Total funds brought forward 45,998 2,306 TOTAL FUNDS CARRIED FORWARD 43,570 9,500 |
31.1.24 31.1.23 Total Total funds funds £ £ 29,320 16,692 21,432 13,867 315 - - 344 51,067 30,903 46,301 27,720 4,766 3,183 48,304 45,121 53,070 48,304 |
31.1.24 31.1.23 Total Total funds funds £ £ 29,320 16,692 21,432 13,867 315 - - 344 51,067 30,903 46,301 27,720 4,766 3,183 48,304 45,121 53,070 48,304 |
|---|---|---|
| 30,903 | ||
| 27,720 | ||
| 3,183 45,121 |
||
| 48,304 |
The notes form part of these financial statements
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Leicester Wheels For All
Balance Sheet
31 January 2024
| Unrestricted Restricted fund funds Notes £ £ FIXED ASSETS Tangible assets 11 18,514 - CURRENT ASSETS Debtors 12 2,026 - Cash at bank and in hand 26,174 9,500 28,200 9,500 CREDITORS Amounts falling due within one year 13 (3,144) - NET CURRENT ASSETS 25,056 9,500 TOTAL ASSETS LESS CURRENT LIABILITIES 43,570 9,500 NET ASSETS 43,570 9,500 FUNDS 14 Unrestricted funds Restricted funds TOTAL FUNDS |
31.1.24 Total funds £ 18,514 2,026 35,674 37,700 (3,144) 34,556 53,070 53,070 43,570 9,500 53,070 |
31.1.23 Total funds £ 18,775 1,367 28,882 30,249 (720) 29,529 48,304 48,304 45,998 2,306 48,304 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 15 November 2024 and were signed on its behalf by:
J R B Wells-Cole - Trustee
The notes form part of these financial statements
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Leicester Wheels For All
Notes to the Financial Statements
for the Year Ended 31 January 2024
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 exemption 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 2024 and 31 January 2023, 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.
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Leicester Wheels For All
Notes to the Financial Statements - continued for the Year Ended 31 January 2024
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: Leicestershire County Council Leicester and Rutland Masons The Henry Smith Charity National Lottery Community Fund Samworth Brothers Maud Elkington Corah Foundation INVESTMENT INCOME Deposit account interest |
31.1.24 £ 2,520 26,800 29,320 31.1.24 £ 4,300 - 10,000 10,000 - 1,500 1,000 26,800 31.1.24 £ 315 |
31.1.23 £ 4,692 12,000 |
|---|---|---|
| 16,692 | ||
| 31.1.23 £ 2,000 2,000 - - 8,000 - - |
||
| 12,000 | ||
| 31.1.23 £ - |
3. INVESTMENT INCOME
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Leicester Wheels For All
Notes to the Financial Statements - continued for the Year Ended 31 January 2024
4. INCOME FROM CHARITABLE ACTIVITIES
| 31.1.24 Activity £ Booking charges Cycling events 21,432 5. CHARITABLE ACTIVITIES COSTS Support Direct costs (see Costs note 6) £ £ Cycling events 35,246 11,055 6. SUPPORT COSTS Management Governance £ £ Cycling events 10,299 756 7. INDEPENDENT EXAMINER'S REMUNERATION 31.1.24 £ Independent Examiner's Fees - External scrutiny and report 151 Independent Examiner's Fees - Accountancy and taxation services 605 756 |
31.1.24 Activity £ Booking charges Cycling events 21,432 5. CHARITABLE ACTIVITIES COSTS Support Direct costs (see Costs note 6) £ £ Cycling events 35,246 11,055 6. SUPPORT COSTS Management Governance £ £ Cycling events 10,299 756 7. INDEPENDENT EXAMINER'S REMUNERATION 31.1.24 £ Independent Examiner's Fees - External scrutiny and report 151 Independent Examiner's Fees - Accountancy and taxation services 605 756 |
31.1.24 Activity £ Booking charges Cycling events 21,432 5. CHARITABLE ACTIVITIES COSTS Support Direct costs (see Costs note 6) £ £ Cycling events 35,246 11,055 6. SUPPORT COSTS Management Governance £ £ Cycling events 10,299 756 7. INDEPENDENT EXAMINER'S REMUNERATION 31.1.24 £ Independent Examiner's Fees - External scrutiny and report 151 Independent Examiner's Fees - Accountancy and taxation services 605 756 |
31.1.23 £ 13,867 Totals £ 46,301 Totals £ 11,055 |
|---|---|---|---|
| 31.1.24 | 31.1.23 | ||
| £ | £ | ||
| 151 | 144 | ||
| 605 | 576 | ||
| 756 | 720 | ||
8. TRUSTEES' REMUNERATION AND BENEFITS
During the year ended 31 January 2024, 1 (2023: 1) trustee received total payments of £3,726 (2023: £2,677) for services provided to the charity.
J R B Wells-Cole was paid £3,726 for being a Session Leader for events organised by the Charity.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 January 2024 nor for the year ended 31 January 2023.
9. STAFF COSTS
There were no staff costs for the year ended 31 January 2024, nor for the year ended 31 January 2023, 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 (2023 - nil).
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Leicester Wheels For All
Notes to the Financial Statements - continued for the Year Ended 31 January 2024
| 10. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | |||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | |||
| fund | funds | funds | |||
| £ | £ | £ | |||
| INCOME AND ENDOWMENTS FROM | |||||
| Donations and legacies | 4,692 | 12,000 | 16,692 | ||
| Charitable activities | |||||
| Cycling events | 13,867 | - | 13,867 | ||
| Other income | 344 | - | 344 | ||
| Total | 18,903 | 12,000 | 30,903 | ||
| EXPENDITURE ON | |||||
| Charitable activities | |||||
| Cycling events | 7,380 | 20,340 | 27,720 | ||
| NET INCOME/(EXPENDITURE) | 11,523 | (8,340) | 3,183 | ||
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 34,475 | 10,646 | 45,121 | ||
| TOTAL FUNDS CARRIED FORWARD | 45,998 | 2,306 | 48,304 | ||
| 11. | TANGIBLE FIXED ASSETS | ||||
| Cycle | Motor | ||||
| fleet | vehicle | Totals | |||
| £ | £ | £ | |||
| COST | |||||
| At 1 February 2023 | 25,108 | 8,400 | 33,508 | ||
| Additions | 3,484 | - | 3,484 | ||
| At 31 January 2024 | 28,592 | 8,400 | 36,992 | ||
| DEPRECIATION | |||||
| At 1 February 2023 | 9,877 | 4,856 | 14,733 | ||
| Charge for year | 2,859 | 886 | 3,745 | ||
| At 31 January 2024 | 12,736 | 5,742 | 18,478 | ||
| NET BOOK VALUE | |||||
| At 31 January 2024 | 15,856 | 2,658 | 18,514 | ||
| At 31 January 2023 | 15,231 | 3,544 | 18,775 |
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Leicester Wheels For All
Notes to the Financial Statements - continued for the Year Ended 31 January 2024
| 12. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
|---|---|---|---|---|
| 31.1.24 | 31.1.23 | |||
| £ | £ | |||
| Prepayments and accrued income | 2,026 | 1,367 | ||
| 13. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 31.1.24 | 31.1.23 | |||
| £ | £ | |||
| Accrued expenses | 3,144 | 720 | ||
| 14. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1.2.23 | in funds | 31.1.24 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 45,998 | (2,428) | 43,570 | |
| Restricted funds | ||||
| Operations | 2,306 | 7,194 | 9,500 | |
| TOTAL FUNDS | 48,304 | 4,766 | 53,070 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 24,267 | (26,695) | (2,428) | |
| Restricted funds | ||||
| Operations | 26,800 | (19,606) | 7,194 | |
| TOTAL FUNDS | 51,067 | (46,301) | 4,766 | |
| Comparatives for movement in funds | ||||
| Net | ||||
| movement | At | |||
| At 1.2.22 | in funds | 31.1.23 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 34,475 | 11,523 | 45,998 | |
| Restricted funds | ||||
| Operations | 10,646 | (8,340) | 2,306 | |
| TOTAL FUNDS | 45,121 | 3,183 | 48,304 |
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Leicester Wheels For All
Notes to the Financial Statements - continued for the Year Ended 31 January 2024
14. 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 | 18,903 | (7,380) | 11,523 |
| Restricted funds | |||
| Operations | 12,000 | (20,340) | (8,340) |
| TOTAL FUNDS | 30,903 | (27,720) | 3,183 |
The nature of the restricted fund is set out below:
Operations
A number of grants have been received towards running cycling events. Total grants of £26,800 were received during the year ended 31 January 2024 to add to the brought forward balance of £2,306. £19,606 has been spent on running events during the year, leaving £9,500 unexpended as at 31 January 2024 to use towards future events.
15. 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 2024 nor for the year ended 31 January 2023.
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