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2023-03-31-accounts

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Charity number: 1171111

THE BIKEABILITY TRUST

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

DocuSign Envelope ID: 6AB23976-1DB8-4CE4-9625-4A2E1741EEB0

THE BIKEABILITY TRUST

CONTENTS

Page
Reference and Administrative Details of the Charity, its Trustees and Advisers 1
Trustees' Report 2 - 12
Independent Auditors' Report on the Financial Statements 13 - 16
Consolidated Statement of Financial Activities 17
Consolidated Balance Sheet 18
Charity Balance Sheet 19
Consolidated Statement of Cash Flows 20
Notes to the Financial Statements 21 - 44

DocuSign Envelope ID: 6AB23976-1DB8-4CE4-9625-4A2E1741EEB0

THE BIKEABILITY TRUST

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023

Trustees Alison Hill, Chair (resigned 17 April 2023)
Imran Hussain
John Jackson
Andrew Milbourne, Chair from 10 November 2023 (previously Vice Chair)
Richard Payn, Treasurer (resigned 20 November 2023)
Christine Phillips (appointed 13 September 2022)
Catherine Purcell (appointed 13 September 2022)
Gavin Wheeler (resigned 24 January 2023)
Esther Durrant (appointed 1 November 2022)
Simon Horne, Chair (appointed 18 April 2023, resigned 8 November 2023)
Steve Garidis (resigned 24 January 2023)
John Wann (resigned 1 November 2022)
Charity registered
number
1171111
Principal office
Salisbury House
Station Road
Cambridge
CB1 2LA
Senior management
team
Sue Brown, Director of Finance and Compliance
Caroline Dawson, Director of Promotion and Communications
Benjamin Smith, Director of Development
Michelle Turnbull, Director of Operations
Chief executive officer
Emily Cherry
Independent auditors
Peters Elworthy & Moore
Chartered Accountants
Salisbury House
Station Road
Cambridge
CB1 2LA
Solicitors
Taylor Vinters
Merlin Place
Milton Road
Cambridge
CB4 0DP

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TRUSTEES’ ANNUAL REPORT

FOR THE YEAR ENDED 31 MARCH 2023

INTRODUCTION

The Trustees present this annual report together with the audited financial statements of the CIO for the period 1 April 2022 to 31 March 2023.

The Trustees confirm that the Annual Report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity’s governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (second edition October 2019, effective 1 January 2019).

The Trustees confirm that they have had regard to the Charity Commission’s public benefit guidance and believe that the Trust complies with guidance.

OBJECTIVES & ACTIVITIES

Mission

The Bikeability Trust is a Charitable Incorporated Organisation whose object is to advance the education of the public in general (and particularly amongst children) on the subject of cycling .

Vision

The Bikeability Trust’s Vision is to ensure everyone has the confidence to cycle and enjoy this skill for life.

The Trust aims to make Bikeability the leading programme for cycle training by ensuring:

The Bikeability Trust Registered Charity number: 1171111. Registered address: Salisbury House, Station Road, Cambridge CB1 2LA

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Strategies for achieving objectives

At the Bikeability Trust, we are an ambitious force for change. We are creating a movement to ensure everyone can access cycling as a life skill. We provide the leading cycle training programme in England.

In two years, the Bikeability Trust will have helped more than 5 million children take up Bikeability cycle training. We will have also offered thousands more families and adults the chance to take up cycle training. We will achieve this through our 5 strategic goals. We will have:

  1. Secured the funding to offer a Bikeability for All programme

  2. Ensured high quality delivery of Bikeability for All

  3. Secured partnerships that give more children the opportunity to take up Bikeability by

  4. removing barriers to cycling and learning this life skill

  5. Encouraged more children and adults to cycle more confidently, more often

  6. Demonstrated the impact of cycle training for improved road safety, improved urban mobility, education curriculum importance, individual health and wellbeing, cleaner air and the environment

Together, by 2025, we can help 5 million children cycle more confidently, more often.

The Bikeability Trust Registered Charity number: 1171111. Registered address: Salisbury House, Station Road, Cambridge CB1 2LA

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ACHIEVEMENTS & PERFORMANCE

Review of activities to-date

This is the sixth Annual Report of the Board of Trustees.

Background

Bikeability is a practical training programme that aims to develop children and families’ skills and confidence to cycle on roads, and ultimately encourage more people to cycle more safely, more often. It is funded by the Department for Transport through Active Travel England and delivered through local authorities and School Games Organiser Host Schools. It has been in existence since 2007 and has delivered 4,587,140 Bikeability training sessions. This includes the 461,087 funded training places delivered in 2022-23 financial year.

The Bikeability programme is split into three different levels so that there is a sense of progression in cycling ability. Typically, Levels 1 and 2 are delivered to primary school children and Level 3 to secondary school children. In addition, there are various other modules that help children to actually learn to cycle. In 2022-23 we made plans to give teachers the skills to deliver basic cycling skills through our ‘in school cycle training’ pilot.

It is our belief that all children should have access to cycling and we at the Trust help to ensure the delivery of cycle training to typically over 400,000 children per year. We have continued to work with the Bikeability Industry through Government guidance to train as many children as possible.

Cycling has a number of wider benefits to society including the physical and mental well-being that comes with being physically active. Cycling also introduces children and their families to a sustainable mode of transport and offers access to a vital life-skill.

The Bikeability Trust was established in 2017, to manage the Bikeability programme.

Achievements of the Bikeability Trust

The Board of Trustees sets out clear objectives for staff and monitors their performance against these objectives on a quarterly basis.

Our impact report for 2022 provides a summary of achievements of the Bikeability Industry led by the Bikeability Trust and can be found on our website: https://www.bikeability.org.uk/about/funding-anddelivery

The main achievements in 2022/23 were:

Promotion and Communications

Supported Bikeability industry

The Bikeability Trust Registered Charity number: 1171111. Registered address: Salisbury House, Station Road, Cambridge CB1 2LA

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Raised awareness and accessibility of Bikeability

Worked in Partnership

Operations

The Bikeability Trust Registered Charity number: 1171111. Registered address: Salisbury House, Station Road, Cambridge CB1 2LA

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Development

Areas requiring further focus

We have secured some partnerships with industry related organisations, but it is important for the Trust to try to secure large tranches of funding from parties other than government; the Trust will continue to attempt to redress this during the forthcoming year.

Plans for April 2023 – March 2024

In this financial year, a new Executive branch of Department for Transport, Active Travel England (ATE) has been established and through agreement, responsibility for the funding of Bikeability has moved to ATE. Policy responsibility for active travel remains with DfT, and ministerial sign off is required for major funding announcements.

We have modelled for ATE the grant funding required in order to make progress towards the Government’s target of offering cycle training to all children. We have modelled this to mean that we will offer by 2025 our Level 2 on the road Bikeability course to at least 80% of children by the end of primary school. This will be supported by continued grant funding for Level 1, 3 and our ‘Plus’ courses (Balance and Learn to Ride). Our modelling has led to a confirmation of grant funding of £50 million for the Bikeability programme and Bikeability Trust to administer the programme up to April 2025.

The Bikeability Trust Registered Charity number: 1171111. Registered address: Salisbury House, Station Road, Cambridge CB1 2LA

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In addition to England, we will take on responsibility for reporting of cycle training in London with Transport for London, and we are in discussion with Welsh Government to launch in Wales. At the time of writing, the final procurement of the Welsh contract remains to be confirmed.

In addition to the instructor led delivery of Bikeability we will pilot and embed a new way of delivering our early courses (Balance, Learn to Ride and Level 1), through a model of in school delivery. This will involve training teachers and TA’s to deliver Bikeability.

We will continue to take action on barriers to taking part in Bikeability through:

In addition, the trustees review key risks facing the Trust every quarter to ensure that appropriate action is being taken to mitigate them. The key risks facing the Trust include:

The trustees have agreed a set of key objectives and activities for the Trust for the coming year and believe that they will help, among other things, to help mitigate the key risks identified.

The key activities we have agreed for the Trust for 2023-24 are:

Objective 1: Fulfil the ATE grant agreement through the provision of:

The Bikeability Trust Registered Charity number: 1171111. Registered address: Salisbury House, Station Road, Cambridge CB1 2LA

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The Bikeability Trust Registered Charity number: 1171111. Registered address: Salisbury House, Station Road, Cambridge CB1 2LA

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Measure of effectiveness: Corporate dashboard KPIs

Objective 2: Make progress towards the Bikeability Trust strategic goals through:

Measure of effectiveness: Trustee reporting

Objective 3: Ensure the Bikeability Industry is levelling up to offer 80% of children Bikeability Level 2 by 2025

Measure of effectiveness: Corporate Dashboard KPIs (focus on Industry measures)

Objective 4: Launch Bikeability in Wales and provide management to support Welsh Government contract terms and conditions

Objective 5: Provide reporting oversight for cycle training in London for Transport for London

The Bikeability Trust Registered Charity number: 1171111. Registered address: Salisbury House, Station Road, Cambridge CB1 2LA

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Measure of effectiveness: monthly reporting KPI’s to TfL

This Business Plan has been scrutinised by Active Travel England and the Finance & Audit Committee of the Bikeability Trust. It has been reviewed by the Board of Trustees, and was formally signed off at the 18th April 2023 Board meeting.

Key financial performance indicators

Our financial results are carefully monitored by our Finance and Audit Committee on a quarterly basis. The key areas the committee focuses on are cash balances and profit from our trading activities. As the Trust has responsibility for the delivery of the Bikeability grant a key area of focus is the safeguarding of public money and ensuring value for money.

Factors relevant to achieve objectives

FINANCIAL REVIEW

Results for the period

The key sources of funds for the Trust are the sale of Award materials and income under a Grant Agreement with the DfT through ATE. The Group has made a surplus of income over expenditure on unrestricted funds of £13,252. This is split into a deficit on designated funds of £208,128 of which £148,349 related to the write off of the intangible fixed asset, and a surplus on general funds of £221,380. This is the result of careful monitoring of costs, a small efficient team of staff who support the Trustees in their work. The Trust currently has unrestricted general reserves brought forward of £400,000. The Trustees have decided that this level of reserves should be retained in addition to £358,669 of costs relating to projects to be completed during 2023-25 thereby allowing a transfer to the Innovation Fund of £220,600.

Reserves policy

The Trustees have the objective of maintaining sufficient reserves to offset any liabilities that should be incurred in the event that the charity would need to be wound up; redundancy costs of staff, and other on-going liabilities such as committed expenditure, pension contributions and supplier costs. The trustees believe that reserves of £400,000 will be sufficient to cover our current commitments and to meet all costs associated with a downturn in our activities and a potential winding up of the charity.

Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the CIO has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.

Grant making policy

The Trust is responsible for awarding grants to either Local Authorities or Schools Games Organisers so that they can engage Bikeability Providers to deliver training locally. The grant terms were set under our predecessor and we have rolled forward those terms. Grants have also been awarded to other organisations in line with our charitable objectives. In all cases the grant recipients have applied for

The Bikeability Trust Registered Charity number: 1171111. Registered address: Salisbury House, Station Road, Cambridge CB1 2LA

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funding which were then assessed and awarded based on factors such as impact, levels of demand and efficiency in delivery. We, at the Trust, monitor all grant usage and review payment claims to ensure funds are only released when training has taken place or grant terms have been satisfied.

Volunteers

Other than the Trustees the Trust does not use the services of any volunteers.

Management remuneration

Management remuneration is reviewed by our Finance and Audit Committee and ratified by the main Board. Management remuneration was originally set on the incorporation of the Charity and has since been subject to annual reviews which has resulted in small increases in line with RPI.

Fundraising

Although we do not actively fundraise from the public and we have not used any professional fundraisers in the year, the public can donate via our website and via Amazon Smile and we are registered with the Fundraising Regulator.

STRUCTURE, GOVERNANCE & MANAGEMENT

Constitution

The CIO was incorporated on 13 January 2017 and commenced operating on 1 April 2017. The Charity is governed by a constitution which sets out the powers and responsibilities of the Trustees in fulfilling the Charity’s objectives.

Management

Trustees

The management of the CIO is the responsibility of the Trustees who are elected and co-opted under the terms of the Constitution. The Trustees manage the affairs of the Trust and determine its general policy.

The Charity is administered by the Board of Trustees, which must have a minimum of three and a maximum of eleven members. The Board meets approximately quarterly. The Executive Director is responsible to the Trustees for overseeing the Charity’s operations.

A list of Trustees is provided on Page 2, and on our website: https://bikeabilitytrust.org/about

Trustees serve for a term of three years from the date of appointment.

Each Trustee’s term of office may be renewed for two further 3 years term; subsequently the Trustee in question is required to resign but may apply for re-appointment after at least one year.

Trustee appointment, induction and training

The proposal to appoint a new Trustee is made at a Trustee meeting for consideration and approval by the existing Trustees. Recruitment is by advertisement followed by shortlisting and interview by the Chair, another Trustee and the Chief Executive Officer (CEO). Following appointment, the successful candidate meets the Chair and CEO for an induction, to be briefed on legal obligations under charity law, on the Charity’s constitution, business plan, operations and recent financial performance.

Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.

The Bikeability Trust Registered Charity number: 1171111. Registered address: Salisbury House, Station Road, Cambridge CB1 2LA

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Trustees' responsibilities statement

The Trustees are responsible for preparing the Trustees' Report 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 & Wales 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 CIO and of the incoming resources and application of resources of the CIO for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the CIO's transactions and disclose with reasonable accuracy at any time the financial position of the CIO and 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 CIO and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Trustees and signed on their behalf by:

Mr A Milbourne Trustee

Date: 23 January 2024

The Bikeability Trust Registered Charity number: 1171111. Registered address: Salisbury House, Station Road, Cambridge CB1 2LA

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THE BIKEABILITY TRUST

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE BIKEABILITY TRUST

OPINION

We have audited the financial statements of The Bikeability Trust (the 'parent charity') and its subsidiaries (the 'group') for the year ended 31 March 2023 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Charity Balance Sheet, the Consolidated Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

In our opinion the financial statements:

BASIS FOR OPINION

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

CONCLUSIONS RELATING TO GOING CONCERN

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

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THE BIKEABILITY TRUST

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE BIKEABILITY TRUST (CONTINUED)

OTHER INFORMATION

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

RESPONSIBILITIES OF TRUSTEES

As explained more fully in the Trustees' Responsibilities Statement, the Trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the parent charity or to cease operations, or have no realistic alternative but to do so.

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THE BIKEABILITY TRUST

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE BIKEABILITY TRUST (CONTINUED)

AUDITORS' RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the Charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we;

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THE BIKEABILITY TRUST

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE BIKEABILITY TRUST (CONTINUED)

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.

USE OF OUR REPORT

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed.

Peters Elworthy & Moore Chartered Accountants Statutory Auditors Salisbury House Station Road Cambridge CB1 2LA

Date: 23 January 2024

Peters Elworthy & Moore are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

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THE BIKEABILITY TRUST

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

Note
INCOME FROM:
Donations and legacies
2
Charitable activities
3
Investments
4
Other income
5
TOTAL INCOME
EXPENDITURE ON:
Raising funds
6
Charitable activities
7
TOTAL EXPENDITURE
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS:
Total funds brought forward
17
Net movement in funds
17
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
2023
£
1,535
1,587,412
109,832
4,814
1,703,593
2,505
1,687,836
1,690,341
13,252
1,405,918
13,252
1,419,170		 Restricted
funds
2023
£
1,886
18,219,128
-
-
18,221,014
-
18,539,925
18,539,925
(318,911)
6,335,558
(318,911)
6,016,647		 Total
funds
2023
£
3,421
19,806,540
109,832
4,814
19,924,607
2,505
20,227,761
20,230,266
(305,659)
7,741,476
(305,659)
7,435,817		 Total
funds
2022
£
1,263
18,666,348
7,801
20,854
18,696,266
2,013
18,744,022
18,746,035
(49,769)
7,791,245
(49,769)
7,741,476

The Consolidated Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 21 to 44 form part of these financial statements.

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THE BIKEABILITY TRUST

CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2023

Note
FIXED ASSETS
Intangible assets
12
CURRENT ASSETS
Stocks
14
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within one
year
16
NET CURRENT ASSETS
TOTAL NET ASSETS
CHARITY FUNDS
Restricted funds
17
Unrestricted funds
17
TOTAL FUNDS		 17,515
242,281
15,511,018
15,770,814
(8,334,997)		 2023
£
-
-
7,435,817
7,435,817
6,016,647
1,419,170
7,435,817		 37,525
65,590
14,543,417
14,646,532
(7,053,405)		 2022
£
148,349
148,349
7,593,127
7,741,476
6,335,558
1,405,918
7,741,476

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Mr A Milbourne Trustee

Date: 23 January 2024

The notes on pages 21 to 44 form part of these financial statements.

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THE BIKEABILITY TRUST

CHARITY BALANCE SHEET AS AT 31 MARCH 2023

Note
FIXED ASSETS
Intangible assets
12
Investments
13
CURRENT ASSETS
Stocks
14
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within one
year
16
NET CURRENT ASSETS
TOTAL NET ASSETS
CHARITY FUNDS
Restricted funds
17
Unrestricted funds
17
TOTAL FUNDS		 17,515
248,127
15,507,630
15,773,272
(8,332,637)		 2023
£
-
100
100
7,440,635
7,440,735
6,016,647
1,424,088
7,440,735		 37,525
67,312
14,542,008
14,646,845
(7,051,405)		 2022
£
148,349
100
148,449
7,595,440
7,743,889
6,335,558
1,408,331
7,743,889

The Charity's net movement in funds for the year was £(303,154) (2022 - £(47,756)).

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Mr A Milbourne Trustee

Date: 23 January 2024

The notes on pages 21 to 44 form part of these financial statements.

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THE BIKEABILITY TRUST

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023

Note
CASH FLOWS FROM OPERATING ACTIVITIES
Net cash provided from operating activities
19
CASH FLOWS FROM INVESTING ACTIVITIES
Dividends, interests and rents from investments
Purchase of intangible assets
NET CASH PROVIDED BY/(USED IN) INVESTING ACTIVITIES
CHANGE IN CASH AND CASH EQUIVALENTS IN THE YEAR
Cash and cash equivalents at the beginning of the year
CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR
20
The notes on pages 21 to 44 form part of these financial statements		 2023
£
857,769
109,832
-
109,832
967,601
14,543,417
15,511,018		 2022
£
5,304,076
7,801
(7,822)
(21)
5,304,055
9,239,362
14,543,417

Page 20

DocuSign Envelope ID: 6AB23976-1DB8-4CE4-9625-4A2E1741EEB0

THE BIKEABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1. ACCOUNTING POLICIES

1.1 STATUTORY INFORMATION

The Bikeability Trust is a charitable incorporated organisation registered with the Charity Commission in England & Wales. The registered office address is Salisbury House, Station Road, Cambridge, CB1 2LA. The Trust has no fixed place of business.

1.2 BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The Bikeability Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The Consolidated Statement of Financial Activities (SOFA) and Consolidated Balance Sheet consolidate the financial statements of the Charity and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.

1.3 GOING CONCERN

The Trustees have prepared forecasts to 31 March 2025 and have agreed funding from Active Travel England for this period. The Trustees have stress-tested the forecasts, chiefly reflecting the different levels of income due to postponement of various activities the charity engage in.

Upon their review, the Trustees believe the charity will have sufficient resources to meet its liabilities as they fall due for the foreseeable future and therefore continue to adopt the going concern basis in preparing the financial statements.

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THE BIKEABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1. ACCOUNTING POLICIES (CONTINUED)

1.4 INCOME

All income is recognised once the CIO has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Donated services or facilities are recognised when the CIO has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the CIO of the item is probable and that economic benefit can be measured reliably.

Core award income is recognised when the sale to the scheme participator is made and goods have been dispatched from the warehouse.

Fundraising income is recognised when the CIO has entitlement to it, the receipt is probable and the amount can be reliably measured.

Consultancy income is recognised during the month the consultancy services were performed.

Registration fees are recognised in the period to which they relate.

Grant income is recognised when the CIO has entitlement to it, the receipt is probable and the amount can be reliably measured. Any unspent balances are carried forward in the relevant fund. Where the criteria is not met, income is deferred.

1.5 EXPENDITURE

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds. Support costs are allocated to activities based on the proportion of time spent on those activities in the year.

Charitable activities and Governance costs are costs incurred on the CIO's operations, including support costs and costs relating to the governance of the CIO. Support costs are allocated to activities based on the proportion of time spent on those activities in the year.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

1.6 INTEREST RECEIVABLE

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the CIO; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

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THE BIKEABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1. ACCOUNTING POLICIES (CONTINUED)

1.7 INTANGIBLE ASSETS AND AMORTISATION

Intangible assets costing £1,500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.

Amortisation is provided on the following bases:

Assets under construction - not amortised until complete and in use Database and website - 10 years straight line

1.8 INVESTMENTS

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Consolidated Statement of Financial Activities.

Investments in subsidiaries are valued at cost less provision for impairment.

1.9 STOCKS

Stocks comprise award materials and are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

1.10 DEBTORS

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.11 CASH AT BANK AND IN HAND

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

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DocuSign Envelope ID: 6AB23976-1DB8-4CE4-9625-4A2E1741EEB0

THE BIKEABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1. ACCOUNTING POLICIES (CONTINUED)

1.12 LIABILITIES AND PROVISIONS

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the CIO anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and other similar charges.

1.13 GOVERNMENT GRANTS

Government grants are accounted for in line with grant income (see 1.4).

1.14 PENSIONS

The CIO contributes to personal pension plans for a number of employees and the pension charge represents the amounts payable by the CIO to the fund in respect of the Period.

1.15 FUND ACCOUNTING

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

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DocuSign Envelope ID: 6AB23976-1DB8-4CE4-9625-4A2E1741EEB0

THE BIKEABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

2. INCOME FROM DONATIONS AND LEGACIES

Unrestricted
funds
2023
£
Donations
1,535
TOTAL 2022
1,263
INCOME FROM CHARITABLE ACTIVITIES
Unrestricted
funds
2023
£
Award schemes - core awards
254,079
National Cycle Training Programme
1,333,333
1,587,412
TOTAL 2022
1,666,348		 Restricted
funds
2023
£
1,886
-
Restricted
funds
2023
£
-
18,219,128
18,219,128
17,000,000		 Total
funds
2023
£
3,421
1,263
Total
funds
2023
£
254,079
19,552,461
19,806,540
18,666,348		 Total
funds
2022
£
1,263
Total
funds
2022
£
266,348
18,400,000
18,666,348

3. INCOME FROM CHARITABLE ACTIVITIES

Government grants totalling £19,552,461 (2022 - £18,400,000) were received from the Department for Transport to deliver the national cycle training programme.

4. INVESTMENT INCOME

Unrestricted
funds
2023
£
Bank interest
109,832
TOTAL 2022
7,801		 Total
funds
2023
£
109,832
7,801		 Total
funds
2022
£
7,801

Page 25

DocuSign Envelope ID: 6AB23976-1DB8-4CE4-9625-4A2E1741EEB0

THE BIKEABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

5. OTHER INCOMING RESOURCES

Other income
TOTAL 2022
EXPENDITURE ON RAISING FUNDS
FUNDRAISING TRADING EXPENSES

Subsidiary trading costs
TOTAL 2022
OTHER TRADING EXPENSES

Administration expenses		 Unrestricted
funds
2023
£
4,814
20,854
Unrestricted
funds
2023
£
2,373
2,013
Unrestricted
funds
2023
£
132		 Total
funds
2023
£
4,814
20,854
Total
funds
2023
£
2,373
2,013
Total
funds
2023
£
132		 Total
funds
2022
£
20,854
Total
funds
2022
£
2,013
Total
funds
2022
£
-

6. EXPENDITURE ON RAISING FUNDS

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DocuSign Envelope ID: 6AB23976-1DB8-4CE4-9625-4A2E1741EEB0

THE BIKEABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

7. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES

Summary by fund type

Unrestricted
funds
2023
£
Award scheme
163,622
Core services
408,092
National Cycle Training Programme
699,414
Other projects
416,708
Widening Participation Fund
-
1,687,836
TOTAL 2022
1,552,809		 Restricted
funds
2023
£
-
-
17,786,880
7,461
745,584
18,539,925
17,191,213		 Total
2023
£
163,622
408,092
18,486,294
424,169
745,584
20,227,761
18,744,022		 Total
2022
£
155,102
449,237
17,165,191
107,291
867,201
18,744,022

8. ANALYSIS OF EXPENDITURE BY ACTIVITIES

Award scheme
Core services
National Cycle Training
Programme
Other projects
Widening Participation Fund
TOTAL 2022		 Activities
undertaken
directly
2023
£
144,861
246,103
671,941
404,411
33,180
1,500,496
957,019		 Grant
funding of
activities
2023
£
-
-
17,360,206
13,662
690,193
18,064,061
17,083,918		 Support
costs
2023
£
18,761
161,989
454,147
6,096
22,211
663,204
703,085		 Total
funds
2023
£
163,622
408,092
18,486,294
424,169
745,584
20,227,761
18,744,022		 Total
funds
2022
£
155,102
449,237
17,165,191
107,291
867,201
18,744,022

Page 27

DocuSign Envelope ID: 6AB23976-1DB8-4CE4-9625-4A2E1741EEB0

THE BIKEABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

8. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED)

ANALYSIS OF DIRECT COSTS

Staff costs
Other costs
TOTAL 2022
Staff costs
Other costs
TOTAL 2022		 Award
scheme
2023
Core
services
2023
£
£
-
186,181
144,861
59,922
144,861
246,103
133,961
206,740
Widening
Participation
2023
£
16,695
16,485
33,180
-		 National
Cycle
Training
Programme
2023
£
273,527
398,414
671,941
602,689
Total
funds
2023
£
500,517
999,979
1,500,496
957,019		 Other
projects
2023
£
24,114
380,297
404,411
13,629
Total
funds
2022
£
290,289
666,730
957,019

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DocuSign Envelope ID: 6AB23976-1DB8-4CE4-9625-4A2E1741EEB0

THE BIKEABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

8. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED)

ANALYSIS OF SUPPORT COSTS

Staff costs
Depreciation
Professional Services
Promotion and comms
Professional fees
Audit and accounts
Insurance
Travel and subsistence
Training
Subscriptions
Office costs
IT costs
Bank charges
Trustee expenses
Sundry office costs
Warehousing
TOTAL 2022		 Award
scheme
2023
£
10,189
-
-
153
845
1,323
267
582
158
79
4,899
95
79
45
47
-
18,761
21,141		 Core
services
2023
£
101,560
-
-
8,986
12,954
13,190
2,664
5,740
1,579
787
2,650
7,235
786
446
3,412
-
161,989
242,497		 National
Cycle
Training
Programme
2023
£
187,840
148,349
3,600
31,502
22,140
24,395
4,928
10,450
2,921
1,457
18
7,048
1,389
826
7,284
-
454,147
418,900		 Other
Projects
2023
£
-
-
-
5,862
-
-
168
66
-
-
-
-
-
-
-
-
6,096
-

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DocuSign Envelope ID: 6AB23976-1DB8-4CE4-9625-4A2E1741EEB0

THE BIKEABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

8. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED)

ANALYSIS OF SUPPORT COSTS (continued)

Staff costs
Depreciation
Professional Services
Promotion and comms
Professional fees
Audit and accounts
Insurance
Travel and subsistence
Training
Subscriptions
Office costs
IT costs
Bank charges
Trustee expenses
Sundry office costs
Warehousing
TOTAL 2022		 Widening
Participation
2023
£
-
-
21,980
-
-
-
-
166
-
-
-
-
65
-
-
-
22,211
20,547		 Total
funds
2023
£
299,589
148,349
25,580
46,503
35,939
38,908
8,027
17,004
4,658
2,323
7,567
14,378
2,319
1,317
10,743
-
663,204
703,085		 Total
funds
2022
£
278,640
16,663
75,835
52,734
77,224
34,326
5,338
10,575
2,730
1,532
88,175
21,751
8,188
1,285
10,196
17,893
703,085

Governance costs totalled £42,585 (2022 - £37,611), being audit and accounts costs of £41,268 (2022 - £36,326), and trustee expenses of £1,317 (2022 - £1,285).

Support costs are allocated on the basis of staff time spent on each activity.

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DocuSign Envelope ID: 6AB23976-1DB8-4CE4-9625-4A2E1741EEB0

THE BIKEABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

9. ANALYSIS OF GRANTS

Grants, DfT costs
Innovation SEND Grants
Widening Participation Grants
TOTAL 2022		 Grants to
Institutions
2023
£
17,360,206
13,662
690,193
18,064,061
17,083,918		 Total
funds
2023
£
17,360,206
13,662
690,193
18,064,061
17,083,918		 Total
funds
2022
£
16,143,602
93,662
846,654
17,083,918

TOTAL 2022

A total of £14,047,390 (107 grants) were made to Local Authorities for the organisation and provison of Bikeability Training which ranged from £11,121 to £600,661.

A total of £3,012,648 (58 grants) were made to School Games Organisers for the organisation and provision of Bikeability Training in their area ranging from £420 to £190,669. A further £168 was granted directly to a training provider.

A grant of £300,000 was awarded to Modeshift for the Modeshift STARs Active Travel Academies.

40 widening participation grants totalling £690,193 were made and ranged from £1,167 to £37,380.

Innovation grants amounting to £13,662 were awarded in the year.

Grants paid in excess of £100,000 are summarised below, alongside their relevant comparatives.

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THE BIKEABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

2023 2022
£ £
LOCAL AUTHORITIES
Barnsley MBC 152,001 -
Bolton Council 141,558 133,399
Bournemouth, Poole and Christchurch Council 165,510 131,521
Bradford MDC 165,405 127,385
Bristol City Council 142,490 135,131
Buckinghamshire County Council 156,617 158,291
Calderdale MBC 115,484 -
Cambridgeshire County Council 351,734 378,582
Cheshire East Council 240,068 245,949
Cheshire West and Chester Council 117,860 110,524
Cumbria County Council 237,944 225,092
Derby City Council 119,348 122,130
Devon County Council 339,181 376,879
Dorset Council 111,940 -
East Sussex County Council 139,090 144,496
Essex County Council 368,457 338,897
Gloucestershire County Council 223,110 204,660
Hampshire County Council 345,450 426,825
Hertfordshire County Council 168,305 188,245
Hull City Council - 104,222
Kent County Council 168,987 200,227
Lancashire County Council 600,661 500,595
Leeds City Council 506,991 450,270
Leicestershire County Council 123,751 147,657
Lincolnshire County Council 267,463 260,552
Liverpool City Region 493,944 358,386
Manchester City Council 132,112 116,012
Newcastle City Council 111,970 -
Norfolk County Council 143,305 -
North Yorkshire County Council 130,185 150,930
Northamptonshire County Council - 196,902
Northumberland County Council 103,228 -
Nottinghamshire County Council 234,703 192,781
Oldham MBC - 109,892
Oxfordshire County Council 206,010 164,610
Sheffield City Council 183,655 124,797
Shropshire Council 163,471 163,018
Solihull MBC 217,533 190,847
Somerset County Council 103,075 -
Staffordshire County Council 514,786 471,644

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

Stockport Council
Stoke-on-Trent City Council
Suffolk County Council
Sunderland City Council
Surrey County Council
The Active Wellbeing Society on behalf of Birmingham City Council
Wakefield MDC
Warrington Borough Council
Warwickshire County Council
West Berkshire Council
West Northamptonshire Council
West Sussex County Council
Wiltshire Council
Worcestershire County Council
Other (under £100,000)
SCHOOL GAME ORGANISERS
Buckshaw Primary School - Holy Cross
Mountbatten School
Newsome High School and Sports College
Sir John Hunt CSC
Swanwick School and Sports College
The Henry Cort Community College
Other (under £100,000)
OTHER FUNDS
Modeshift
Widening Particpation
Innovation SEND grants
Training provider		 115,909
165,829
142,850
100,863
329,719
291,490
186,450
144,180
-
125,027
216,978
233,145
153,823
181,753
3,451,992
14,047,390
-
122,375
109,806
190,669
106,081
100,840
2,382,877
3,012,648
300,000
690,193
13,662
168
1,004,023
18,064,061		 114,457
174,734
160,295
-
340,342
340,478
175,995
135,999
107,130
103,248
-
233,145
143,775
158,521
3,321,461
12,860,928
101,781
-
-
211,648
117,140
-
2,646,058
3,076,627
-
846,654
299,709
-
1,146,363
17,083,918

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THE BIKEABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

10. AUDITORS' REMUNERATION

2023 2022
£ £
Fees payable to the Charity's auditor for the audit of the Charity's annual
accounts 15,810 13,100
Fees payable to the Charity's auditor in respect of:
Taxation compliance services 1,540 1,400
All non-audit services not included above 23,918 21,826

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

11. STAFF COSTS, INCLUDING COSTS OF KEY MANAGEMENT PERSONNEL AND TRUSTEE EXPENSES

Staff costs were as follows:

Wages and salaries
Social security costs
Other pensions costs		 Group
2023
£
682,563
68,634
48,909
800,106		 Group
2022
£
491,154
43,713
34,062
568,929		 Charity
2023
£
682,563
68,634
48,909
800,106		 Charity
2022
£
491,154
43,713
34,062
568,929

The average number of persons employed by the Charity during the year was as follows:

Group Group Charity Charity
2023 2022 2023 2022
No. No. No. No.
Direct charitable and management 20 16 20 16

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

Group Group
2023 2022
No. No.
In the band £60,001 - £70,000 - 1
In the band £70,001 - £80,000 1 -

The key management personnel of the charity comprise the Trustees, the Chief Executive, Director of Development, Director of Operations, Director of Finance and Compliance, and Director of Promotion and Communications. No Trustee received any remuneration or benefits in kind from the charity. The total employment benefits including employer pension and national insurance contributions of key management personnel were £284,229 (2022: £193,272).

During the period, 7 Trustees (2022 - 6) received reimbursement of travel expenses totalling £1,317 (2022: £1,285).

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

12.
INTANGIBLE ASSETS
GROUP AND CHARITY
COST
At 1 April 2022
At 31 March 2023
AMORTISATION
At 1 April 2022
Charge for the year
At 31 March 2023
NET BOOK VALUE
At 31 March 2023
At 31 March 2022		 Database
and website
£
170,380
170,380
22,031
148,349
170,380
-
148,349

Intangibles consist of database and website development costs.

During the year the trustees re-considered the useful economic life of the intangible assets and determined this to be less than one year and as a result have written the assets down to nil.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

13. FIXED ASSET INVESTMENTS

Investments in subsidiary companies CHARITY £ COST At 1 April 2022 100 AT 31 MARCH 2023 100

PRINCIPAL SUBSIDIARIES

The following was a subsidiary undertaking of the Charity:

Name Company Registered office or principal Class of Holding number place of business shares Bikeability Trading Limited 11794254 Salisbury House, Station Road, Ordinary 100% Cambridge, England, CB1 2LA

Included in consolidation

Yes

The financial results of the subsidiary for the year were:

Name Expenditure (Loss) for Net
£ the year liabilities
£ £
Bikeability Trading Limited (2,505) (2,505) (4,818)

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THE BIKEABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

14. STOCKS

Group Group Charity Charity
2023 2022 2023 2022
£ £ £ £
Award material 17,515 37,525 17,515 37,525

15. DEBTORS

Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income		 Group
2023
£
43,821
-
9,519
188,941
242,281		 Group
2022
£
325
-
-
65,265
65,590		 Charity
2023
£
43,821
5,846
9,519
188,941
248,127		 Charity
2022
£
325
1,722
-
65,265
67,312

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DocuSign Envelope ID: 6AB23976-1DB8-4CE4-9625-4A2E1741EEB0

THE BIKEABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
Grants payable		 Group
2023
£
219,077
403,241
1,130
2,068,193
5,643,356
8,334,997		 Group
2022
£
135,055
378,515
2,059
44,638
6,493,138
7,053,405		 Charity
2023
£
219,077
403,241
1,130
2,065,833
5,643,356
8,332,637		 Charity
2022
£
135,055
378,515
2,059
42,638
6,493,138
7,051,405

The CIO contributes to employees personal pension plans. The pension cost charge represents contributions payable by the CIO to the personal pension plans and amounted to £48,909 (2022: £34,062). No contributions were payable to the funds at the balance sheet date (2022: £61 included in other creditors).

Included within Other taxation and social security is a VAT liability of £385,486 (2022: £360,464) relating to historically unpaid VAT due to HMRC.

Deferred income at 1 April 2022
Resources deferred during the year		 Group
2023
£
-
1,984,370
1,984,370		 Group
2022
£
-
-
-

Deferred income represents underspend on grant income received which is rolled over into the next financial year's funding.

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DocuSign Envelope ID: 6AB23976-1DB8-4CE4-9625-4A2E1741EEB0

THE BIKEABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

17. STATEMENT OF FUNDS

STATEMENT OF FUNDS - CURRENT YEAR

UNRESTRICTED FUNDS
DESIGNATED FUNDS
Innovation fund
Intangible fixed assets fund
GENERAL FUNDS
General Funds - all funds
Subsidiary funds
TOTAL UNRESTRICTED
FUNDS
RESTRICTED FUNDS
National Cycle Training
Programme
Widening Participation Fund
Modeshift
Other projects
TOTAL OF FUNDS		 Balance at 1
April 2022
£
504,598
148,349
652,947
755,384
(2,413)
752,971
1,405,918
5,401,648
897,161
-
36,749
6,335,558
7,741,476		 Income
£
1,535
-
1,535
1,702,058
-
1,702,058
1,703,593
17,919,128
-
300,000
1,886
18,221,014
19,924,607		 Expenditure
£
(61,314)
(148,349)
(209,663)
(1,478,173)
(2,505)
(1,480,678)
(1,690,341)
(17,486,880)
(745,584)
(300,000)
(7,461)
(18,539,925)
(20,230,266)		 Transfers
in/(out)
£
220,600
-
220,600
(220,600)
-
(220,600)
-
-
-
-
-
-
-		 Balance at
31 March
2023
£
665,419
-
665,419
758,669
(4,918)
753,751
1,419,170
5,833,896
151,577
-
31,174
6,016,647
7,435,817

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DocuSign Envelope ID: 6AB23976-1DB8-4CE4-9625-4A2E1741EEB0

THE BIKEABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

17. STATEMENT OF FUNDS (CONTINUED)

Designated Funds

The innovation fund is set aside for the innovation and development of Bikeability projects.

The intangible fixed assets fund represents the net book value of intangible fixed assets held by the CIO as shown in note 12.

Restricted Funds

National Cycle Training Programme relates to a grant from the Department for Transport payable to Local Authorities and SGOs to deliver the programme.

Widening Participation Fund relates to an underspend of DfT monies which were agreed to be allocated to a new project to identify children and groups less likely to access Bikeability Training due to various additional barriers, finding ways to inspire and enable them to cycle more through a range of pilot projects.

The transfer during the prior year releates to new underspends allocated by DfT.

During the year grant funding received from DfT amounting to £300,000 was awarded to Modeshift for the Modeshift STARs Active Travel Academies.

Other projects relate to smaller projects outside of the National Cycle Training Programme.

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DocuSign Envelope ID: 6AB23976-1DB8-4CE4-9625-4A2E1741EEB0

THE BIKEABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

17. STATEMENT OF FUNDS (CONTINUED)

STATEMENT OF FUNDS - PRIOR YEAR

UNRESTRICTED FUNDS
DESIGNATED FUNDS
Innovation fund
Intangible fixed assets fund
GENERAL FUNDS
General Funds - all funds
Subsidiary funds
TOTAL UNRESTRICTED
FUNDS
RESTRICTED FUNDS
National Cycle Training
Programme
Widening Participation Fund
Modeshift
Other projects
TOTAL OF FUNDS		 Balance at
1 April 2021
£
882,060
157,190
1,039,250
265,000
(400)
264,600
1,303,850
4,937,017
1,500,000
50,378
-
6,487,395
7,791,245		 Income
£
1,263
-
1,263
1,695,003
-
1,695,003
1,696,266
17,000,000
-
-
-
17,000,000
18,696,266		 Expenditure
£
(528,725)
(16,663)
(545,388)
(1,046,797)
(2,013)
(1,048,810)
(1,594,198)
(16,271,007)
(867,201)
(13,629)
-
(17,151,837)
(18,746,035)		 Transfers
in/(out)
£
150,000
7,822
157,822
(157,822)
-
(157,822)
-
(264,362)
264,362
-
-
-
-		 Balance at
31 March
2022
£
504,598
148,349
652,947
755,384
(2,413)
752,971
1,405,918
5,401,648
897,161
36,749
-
6,335,558
7,741,476

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DocuSign Envelope ID: 6AB23976-1DB8-4CE4-9625-4A2E1741EEB0

THE BIKEABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

18. ANALYSIS OF NET ASSETS BETWEEN FUNDS

ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR

Unrestricted
funds
2023
£
Current assets
2,126,441
Creditors due within one year
(707,271)
TOTAL
1,419,170
ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR
Unrestricted
funds
2022
£
Intangible fixed assets
148,349
Current assets
1,832,364
Creditors due within one year
(574,795)
TOTAL
1,405,918
19.
RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW
ACTIVITIES
Net expenditure for the year (as per Statement of Financial Activities)
ADJUSTMENTS FOR:
Amortisation charges
Investment income
Decrease in stocks
(Increase)/decrease in debtors
Increase in creditors
NET CASH PROVIDED BY OPERATING ACTIVITIES		 Restricted
funds
2023
Total
funds
2023
£
£
13,644,373
15,770,814
(7,627,726)
(8,334,997)
6,016,647
7,435,817
Restricted
funds
2022
Total
funds
2022
£
£
-
148,349
12,814,168
14,646,532
(6,478,610)
(7,053,405)
6,335,558
7,741,476
FROM OPERATING
Group
Group
2023
2022
£
£
(305,659)
(49,769)
148,349
16,663
(109,832)
(7,801)
20,010
61,544
(176,691)
426,347
1,281,592
4,857,092
857,769
5,304,076

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DocuSign Envelope ID: 6AB23976-1DB8-4CE4-9625-4A2E1741EEB0

THE BIKEABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

20. ANALYSIS OF CASH AND CASH EQUIVALENTS

Cash in hand
TOTAL CASH AND CASH EQUIVALENTS		 Group
2023
£
15,511,018
15,511,018		 Group
2022
£
14,543,417
14,543,417

21. ANALYSIS OF CHANGES IN NET DEBT

Cash at bank and in hand At 1 April
2022
£
14,543,417
14,543,417		 Cash flows
£
967,601
967,601		 At 31 March
2023
£
15,511,018
15,511,018

22. RELATED PARTY TRANSACTIONS

There were no transactions with related parties in the year (2022: None).

Page 44