2020-12-31-accounts - Love Running CIO

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LOVE RUNNING CIO ANNUAL REPORT AND ACCOUNTS YEAR ENDED 31 DECEMBER 2020 Charity Number 1170194

LOVE RUNNING CIO

ANNUAL REPORT AND ACCOUNTS

YEAR ENDED 31 DECEMBER 2020

CONTENTS	Pages
Trustees’ report	1 – 3
Receipts and Payments Account	4
Statement of Assets and Liabilities	5

LOVE RUNNING CIO

ANNUAL REPORT AND ACCOUNTS

YEAR ENDED 31 DECEMBER 2020

The Trustees have pleasure in presenting their report together with the accounts of the Charity for the year ended 31 December 2020.

Charitable Purposes, Activities and Achievements

The purposes of the Charity are:

The prevention or relief of poverty or financial hardship in the UK and overseas by providing grants to charities and other organisations working to prevent or relieve poverty; and
The relief of sickness and the preservation of health in the UK and overseas by providing grants to charities and other organisations working to relieve sickness or preserve health.

Love Running is an initiative that was started by Woodlands Group of Churches in Bristol in 2010. Love Running seeks to mobilise hundreds of people to change the lives of thousands of people at home and abroad by completing the Bristol 10k and being sponsored by family, friends, colleagues and strangers!

Since Love Running began, over 3,000 people have participated raising almost £670,000 for the poor, the oppressed and the needy. At the same time, people have enjoyed getting in shape and meeting new friends!

In late 2016, Love Running was established as an independent Charitable Incorporated Organisation in its own right in order to encourage wider participation of other churches in the city and region.

Love Running CIO is a grant-making charity that gives money to charities and other organisations working to prevent or relieve poverty and relieve or preserve health. Recipients are selected by the Trustees in discussion with partner churches to ensure that grants made both meet the charitable purposes of the charity and are aligned with the strategic priorities of the Church in the Bristol region.

The principal way in which the charity raises funds for grant making is through the sponsorship raised by runners participating in the Bristol 10k road race. Runners pay a participation fee which covers their entry in the race, a Love Running T shirt and access to training resources, discount cards and running club membership.

The last Love Running event was on 5 May 2019, when over 300 runners took part in Love Running’s mass entry in the Great Bristol 10k. As a result, grants of over £72,000 were made.

In light of the global Covid-19 pandemic, no Love Running events took place in 2020 or 2021. The Trustees will soon be discussing whether plans will be made for a resumption in 2022.

The Trustees confirm that they 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 future activities.

Financial review

The charity's cash receipts for the year ended 31 December 2020 were £11 (2019: £83,973, principally fundraising donations received from the Love Running 2019 event and registration fees from event participators).

Cash payments in 2020 were £161 relating primarily to the independent examiner’s fee for the 2019 accounts (2019: £84,264; £72,000 of which were paid as grants to supported charities and other organisations. The remaining payments of £12,264 were incurred in support of running the Love

LOVE RUNNING CIO

ANNUAL REPORT AND ACCOUNTS

YEAR ENDED 31 DECEMBER 2020

Running 2019 event, including the costs of collecting donations via the online fundraising platform Virgin Money Giving).

Cash Reserves

The Trustees consider that they don’t need to hold free reserves as matter of course. The charity employs no staff and has no contractual obligations. All grants made are discretionary and made out of funds that have been raised. The charity incurs a small amount of administration costs which are met by participant registration fees for each event and some start-up funding from a partner church.

As the year end, the charity’s free cash reserves were £1,740 and these will be deployed in meeting some of the upfront costs of future Love Running events.

Plans for future periods

It is anticipated that the next Love Running event will take place in May 2022 at the earliest, linked with the Bristol 10k race. As such, the charity will not operate in 2021.

Reference and administrative details

Charity number: 1170194 Registered office: 140 Cranbrook Road, Bristol, BS6 7DD Website address: www.loverunning.org

Trustees:

The Trustees serving during the period and since the period end were as follows:

P O Jinadu (Chairman) K Jinadu E J Marsh

Structure, Governance and Management

Governing Document

The Charity was established as a Foundation Charitable Incorporated Organisation on 16 November 2016 and is governed by its constitution.

Recruitment and Appointment of Trustees

New Trustees are recruited on the basis of the knowledge of the existing Trustees of suitable candidates. In selecting persons to be appointed, the Trustees shall take into account the benefits of appointing a person who is able by virtue of his or her professional qualifications or experience to make a contribution to the pursuit of the purposes or the management of Love Running CIO. Selected candidates are appointed by a simple majority of the votes cast by the Trustees at a meeting.

LOVE RUNNING CIO

ANNUAL REPORT AND ACCOUNTS

YEAR ENDED 31 DECEMBER 2020

New Trustees receive an Induction pack appropriate to their level of existing knowledge of and involvement with the Charity. As a minimum, new Trustees receive a copy of the Charity Commission publication CC3 – The Essential Trustee: what you need to know together with the charity’s governing document and latest annual report and accounts.

Approved by the Trustees and signed on their behalf by:

……………………………………… PO Jinadu Chairman of Trustees

12 August 2021

LOVE RUNNING CIO

YEAR TO 31 DECEMBER 2020 RECEIPTS AND PAYMENTS ACCOUNT

Unrestricted Restricted Funds Funds RECEIPTS FROM: £ £ Donations Gifts from churches - - Gifts from Individuals 1 - Online Fundraising Donations - - Gift Aid receivable - - Raising funds Participant registration fees - - Other receipts 10 - TOTAL RECEIPTS 11 - PAYMENTS FOR: Charitable Activities - Grants paid Syrian refugees - - Vulnerable Women - - Local Community Projects - - Single Parents ministries - - Care for asylum seekers - - Food poverty - - Prisoners and ex-offenders - - Homelessness - - - - Raising Funds Online fundraising fees - - Card processing fees 1 - Runner resource packs - - Participant T shirts - - Publicity and printing - - Independent examination fee 150 - Race entries - - Other payments 10 - 161 - TOTAL PAYMENTS 161 - NET RECEIPTS/(PAYMENTS) (150) -	Total Funds 2020 £ - 1 - - - 10	Total Funds 2019 £ 839 6,447 55,043 10,157 11,487 -
	11	83,973
	- - - - - - - -	36,000 9,000 5,400 3,600 3,600 3,600 3,600 7,200
	- - 1 - - - 150 - 10	72,000 203 1,157 113 1,482 358 - 8,951 -
	161	12,264
	161	84,264

(150) -	(150)	(291)

LOVE RUNNING CIO

AT 31 DECEMBER 2020

STATEMENT OF ASSETS AND LIABILITIES

Cash funds Current account Gift Aid not yet received at period end Total Assets Liabilities Accrued expenditure Total Liabilities CASH RESERVES Unrestricted funds Brought forward Net receipts/(payments) for the period Restricted funds Brought forward Net receipts/(payments) for the period Total cash reserves	2020 £ 1,890 (150) 1,450 -	2020 £ 3,190 3,190 - 3,190 - - 1,740 1,450 3,190	2019 £ 1,633 257	2019 £ 3,340
				3,340 -
				3,340
				150
				150
				1,890 1,450
			1,998 (548)

				3,340

Signed on behalf of the trustees on 12 August 2021

………………………….

P Jinadu (Chair of Trustees)