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← The Bikeability Trust

2024-03-31-accounts

Docusign Envelope ID: 805DA343-3655-4C96-8804-3EEF845A738F

Trustees’ Report and Financial Statements For the year ended 31 March 2024

Docusign Envelope ID: 805DA343-3655-4C96-8804-3EEF845A738F

THE BIKEABILITY TRUST

CONTENTS

Page
Reference and Administrative Details of the Charity, its Trustees and Advisers 1
Trustees' Report 2 - 16
Independent Auditors' Report on the Financial Statements 17 - 20
Consolidated Statement of Financial Activities 21
Consolidated Balance Sheet 22
Charity Balance Sheet 23
Consolidated Statement of Cash Flows 24
Notes to the Financial Statements 25 - 48

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THE BIKEABILITY TRUST

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024

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
Catherine Purcell
Esther Durrant
Simon Horne, Chair (appointed 18 April 2023, resigned 8 November 2023)
Lee Kidger (appointed 8 July 2024)
Gordon Read (appointed 16 April 2024)
Shirley McIndoe (appointed 16 April 2024)
Sivanayaki Sanmugarajah (appointed 16 April 2024)
Nicholas Truran (appointed 16 April 2024)
Paul Murray (appointed 23 January 2024)
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
Mishcon de Reya
Africa House
70 Kingsway
London
WC2B 6AH

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TRUSTEES’ ANNUAL REPORT

FOR THE YEAR ENDED 31 MARCH 2024

1.0 INTRODUCTION

The Trustees present this annual report together with the audited financial statements of the CIO for the period 1 April 2023 to 31 March 2024.

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.

2.0 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:

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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.

The Bikeability Trust has helped more than 5 million children to take up Bikeability cycle training. We have also offered thousands more families and adults the chance to take up cycle training. By 2025 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 removing barriers to cycling and learning this life skill

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

  5. 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 we can help children cycle more confidently, more often.

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3.0 ACHIEVEMENTS & PERFORMANCE

Review of activities to-date

Background

Bikeability is a practical training programme that aims to develop children’s 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 Highway Authorities and School Games Organiser Host Schools. It has been in existence since 2007 and has delivered 5,136,783 Bikeability training sessions. This includes the 505,657 funded training places delivered in 2023-24 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. Following the successful ‘in school cycle training’ pilot in 2022-23 we have continued to give teachers the skills to deliver basic cycling skills in 2023-24.

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.

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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 2023 provides a summary of achievements of the Bikeability Industry led by the Bikeability Trust and can be found on our website: Bikeability Impact Report 2023

The main achievements in 2023/24 were:

Communications and partnerships

Supported Bikeability industry with timely communications

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Raise awareness and benefits of Bikeability

Develop active travel and corporate partnerships

Operations

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Grants & Finance

Development

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Areas requiring further focus

We have experienced some delays with our digitisation project in rolling out consistent booking systems across the Bikeability industry which will help us develop efficiencies in reporting and embed our impact work through consistent evaluation tools. This project was critical in helping to secure further corporate partnerships through Bikeability Club and therefore this is an important area for future focus.

We are also planning to develop a further set of tools for training adults, including for example delivery riders. This is an opportunity for the Trust to not only generate income, but further our charitable mission on educating the public and not solely restricted to children.

Plans for April 2024 – March 2025

The focus for this financial year will be delivering on the targets we have set for Local Highways Authorities to make progress towards offering 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 target has led to a confirmation of grant funding of £50 million for the Bikeability programme and Bikeability Trust to administer the programme between March 2023 and April 2025.

We surveyed grant recipients and training providers to identify the main barriers to achieving targets by 2025 and four issues emerged:

  1. Access to well-maintained cycles for children

  2. Parent / carer attitudes to safety of cycling on the roads

  3. Instructor capacity to meet demand

  4. Resistant schools to offer Bikeability as it is not on the curriculum

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Therefore, in addition to the main programme funding we will be intensively supporting lower performing Local Highways Authorities, defined as offering a Level 2 course to less than 60% of children in Year 6. During 23/24 we provided ‘scale up’ funding to support them to increase their overall Level 2 targets through things such as:

The fund will continue to be supported by a project group including policy representatives from Active Travel England and will continue to be closely monitored for its impact in achieving objectives.

To support the challenges of meeting both instructor demand, and children’s cycling skills development, our ‘Get Cycling in Schools’ following successful pilot of this in 2023 will be rolled out to a larger number of LHA’s. We expect this to be in around 300 schools by the end of the financial year. This programme equips teachers and TA’s with the skills to teach Balance, Learn to Ride and ‘Ride’ a pre Level 1 programme. Our evaluation shows it has the potential to save thousands of instructor hours and embed a cycling culture directly within the school.

We will also continue to support Transport for London through our monitoring and reporting contract, so we can now demonstrate the full impact of training throughout England. Procurement and discussions with Welsh Government have stalled, and there is no funded commitment to launch Bikeability in Wales at the time of writing. We will continue to lobby for this change. We continue to work with Cycling Scotland through regular meetings and sharing of good practice for Bikeability in Scotland. Finally, should we see a return to power sharing in the Northern Ireland Assembly, we will lobby to bring Bikeability fully to Northern Ireland..

Core to our mission and key to ensuring the future of Bikeability is increasing our data and evidence of the impact of our cycle training. Through our revised Theory of Change developed in 2023, we have designed a set of consistent monitoring and evaluation tools that will be embedded within the digitisation programme to survey children, parents and carers. This will enable us to show data on:

This will be critical information in order to help to secure future funding for Bikeability with an expected election and spending review in the next period.

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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 in our two year business plan for the Trust for 2023-25 are:

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

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Measure of effectiveness: Corporate dashboard KPIs

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

Measure of effectiveness: monthly reporting KPI’s to TfL

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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

5.0 FINANCIAL REVIEW

Results for the period

The net movement in funds for the year was a deficit of £745,386 comprising a surplus of income over expenditure on unrestricted funds of £477,735 (being £149,234 in respect of general funds and £328,501 in respect of designated funds) and a deficit of £1,223,121 on restricted funds.

The income for general funds totalled £1,636,010 with the key sources of income being the sale of award materials £276,389, bank interest £151,498 and income under an administration Grant Agreement with the DfT through ATE amounting to £1,177,500. Continued careful monitoring of costs has resulted in a surplus of £149,234 taking the balance on general funds carried forward to £902,985. Of the carried forward balance £173,310 is expected to be spent in 24/25 on development projects that commenced in 23/24. The remaining balance of £729,675 will remain in general reserves and represents the free reserves at the end of 23/24.

The surplus on designated Innovation fund amounted to £328,501 of which £28,932 related to expenditure on Innovation projects and a surplus of £357,433 related to the write back of a provision for unpaid VAT made in 2022 that HMRC have since confirmed is not due. This has resulted in the carried forward balance of the fund standing at £993,920 as at 31 March 2024. The Trustees are working with industry to develop the programme further through use of the Innovation fund.

During 23/24 total restricted income amounted to £18,234,503. This included £18,216,553 from DfT through ATE of which £16,842,658 was utilised in full to provide Bikeability training, £957,895 was paid out as scale up funding and the remaining £416,000 funded the cycling in schools and the immersive reality training projects. Restricted funds bought forward from 22/23 continued to fund instructor bursaries, fleet bikes, cycling in schools, digitisation and other development projects as agreed with ATE. The funds carried forward at the end of 23/24 amounted to £4,793,526 and will be continue to be utilised as agreed with donors.

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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 have reviewed the level of reserves in the context of 24/25 work plans and have decided not to transfer any funds into the Innovation fund at this stage as the Trust is midway through a two year funding agreement. The reserves position will be reconsidered towards the end of 24/25 when the outcome of the two year funding agreement is known.

The trustees believe that the free reserves of £729,675 will be sufficient to cover our current development 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 Highway 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 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 we are registered with the Fundraising Regulator.

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6.0 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.

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 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.

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.

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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: 15 January 2025

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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 2024 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: 16 January 2025

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 2024

Note
INCOME FROM:
Donations and legacies
2
Charitable activities
3
Other trading activities
4
Investments
5
Other income
6
TOTAL INCOME
EXPENDITURE ON:
Raising funds
7
Charitable activities
8
TOTAL EXPENDITURE
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS:
Total funds brought forward
18
Net movement in funds
18
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
2024
£
6,278
1,453,889
26,500
151,498
380
1,638,545
22,184
1,138,626
1,160,810
477,735
1,419,170
477,735
1,896,905		 Restricted
funds
2024
£
554
18,233,949
-
-
-
18,234,503
-
19,457,624
19,457,624
(1,223,121)
6,016,647
(1,223,121)
4,793,526		 Total
funds
2024
£
6,832
19,687,838
26,500
151,498
380
19,873,048
22,184
20,596,250
20,618,434
(745,386)
7,435,817
(745,386)
6,690,431		 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

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

The notes on pages 25 to 48 form part of these financial statements.

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THE BIKEABILITY TRUST

CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2024

Note
FIXED ASSETS
Tangible assets
13
CURRENT ASSETS
Stocks
15
Debtors
16
Cash at bank and in hand
Creditors: amounts falling due within one
year
17
NET CURRENT ASSETS
TOTAL NET ASSETS
CHARITY FUNDS
Restricted funds
18
Unrestricted funds
18
TOTAL FUNDS		 21,836
109,116
13,042,493
13,173,445
(6,485,867)		 2024
£
2,853
2,853
6,687,578
6,690,431
4,793,526
1,896,905
6,690,431		 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

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

Mr A Milbourne Trustee

Date: 15 January 2025

The notes on pages 25 to 48 form part of these financial statements.

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THE BIKEABILITY TRUST

CHARITY BALANCE SHEET AS AT 31 MARCH 2024

Note
FIXED ASSETS
Tangible assets
13
Investments
14
CURRENT ASSETS
Stocks
15
Debtors
16
Cash at bank and in hand
Creditors: amounts falling due within one
year
17
NET CURRENT ASSETS
TOTAL NET ASSETS
CHARITY FUNDS
Restricted funds
18
Unrestricted funds
18
TOTAL FUNDS		 21,836
158,734
12,913,827
13,094,397
(6,406,317)		 2024
£
2,853
100
2,953
6,688,080
6,691,033
4,793,526
1,897,507
6,691,033		 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

The Charity's net movement in funds for the year was £(749,702) (2023 - £(303,154)).

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

Mr A Milbourne Trustee

Date: 15 January 2025

The notes on pages 25 to 48 form part of these financial statements.

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THE BIKEABILITY TRUST

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024

Note
CASH FLOWS FROM OPERATING ACTIVITIES
Net cash (used in) / provided by operating activities
20
CASH FLOWS FROM INVESTING ACTIVITIES
Dividends, interests and rents from investments
Purchase of tangible fixed assets
NET CASH PROVIDED BY 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
21		 2024
£
(2,616,694)
151,498
(3,329)
148,169
(2,468,525)
15,511,018
13,042,493		 2023
£
857,769
109,832
-
109,832
967,601
14,543,417
15,511,018

The notes on pages 25 to 48 form part of these financial statements

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THE BIKEABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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 2026 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 2024

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 2024

1. ACCOUNTING POLICIES (CONTINUED)

1.7 TANGIBLE FIXED ASSETS AND DEPRECIATION

Tangible fixed 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.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

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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THE BIKEABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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 aim and use of each restricted fund is set out in the notes to the financial statements.

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THE BIKEABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

2. INCOME FROM DONATIONS AND LEGACIES

Donations
TOTAL 2023		 Unrestricted
funds
2024
£
6,278
1,535		 Restricted
funds
2024
£
554
1,886		 Total
funds
2024
£
6,832
3,421		 Total
funds
2023
£
3,421

3. INCOME FROM CHARITABLE ACTIVITIES

Award schemes - Core awards
National Cycle Training Programme
TOTAL 2023		 Unrestricted
funds
2024
£
276,389
1,177,500
1,453,889
1,587,412		 Restricted
funds
2024
£
-
18,233,949
18,233,949
18,219,128		 Total
funds
2024
£
276,389
19,411,449
19,687,838
19,806,540		 Total
funds
2023
£
254,079
19,552,461
19,806,540

Government grants totalling £19,411,449 (2023 - £19,552,461) were received from Active Travel England and the Department for Transport to deliver the national cycle training programme.

4. INCOME FROM OTHER TRADING ACTIVITIES

Income from non charitable trading activities

Unrestricted Total Total
funds funds funds
2024 2024 2023
£ £ £
Sponsorship income 26,500 26,500 -

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THE BIKEABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

5. INVESTMENT INCOME

Unrestricted
funds
2024
£
Bank interest
151,498
TOTAL 2023
109,832		 Total
funds
2024
£
151,498
109,832		 Total
funds
2023
£
109,832

6. OTHER INCOMING RESOURCES

Other income
TOTAL 2023
EXPENDITURE ON RAISING FUNDS
FUNDRAISING TRADING EXPENSES
Subsidiary trading costs
TOTAL 2023		 Unrestricted
funds
2024
£
380
4,814
Unrestricted
funds
2024
£
22,184
2,505		 Total
funds
2024
£
380
4,814
Total
funds
2024
£
22,184
2,505		 Total
funds
2023
£
4,814
Total
funds
2023
£
2,505

7. EXPENDITURE ON RAISING FUNDS

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Docusign Envelope ID: 805DA343-3655-4C96-8804-3EEF845A738F

THE BIKEABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

8. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES

Summary by fund type

Award scheme
Core services
National Cycle Training Programme
Other projects
Widening Participation Fund
TOTAL 2023		 Unrestricted
funds
2024
£
170,396
499,764
740,357
(271,891)
-
1,138,626
1,687,836		 Restricted
funds
2024
£
-
-
19,440,927
17,257
(560)
19,457,624
18,539,925		 Total
2024
£
170,396
499,764
20,181,284
(254,634)
(560)
20,596,250
20,227,761		 Total
2023
£
163,622
408,092
18,486,294
424,169
745,584
20,227,761

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Docusign Envelope ID: 805DA343-3655-4C96-8804-3EEF845A738F

THE BIKEABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

9. ANALYSIS OF EXPENDITURE BY CHARITABLE ACTIVITIES

Award scheme
Core services
National Cycle Training
Programme
Other projects
Widening Participation Fund
TOTAL 2023		 Activities
undertaken
directly
2024
£
155,738
298,511
1,592,965
(273,239)
(560)
1,773,415
1,500,496		 Grant
funding of
activities
2024
£
-
-
18,270,876
-
-
18,270,876
18,064,061		 Support
costs
2024
£
14,658
201,253
317,443
18,605
-
551,959
663,204		 Total
funds
2024
£
170,396
499,764
20,181,284
(254,634)
(560)
20,596,250
20,227,761		 Total
funds
2023
£
163,622
408,092
18,486,294
424,169
745,584
20,227,761

ANALYSIS OF DIRECT COSTS

Staff costs
Other costs
TOTAL 2023		 Award
scheme
2024
£
-
155,738
155,738
144,861		 Core
services
2024
£
210,275
88,236
298,511
246,103		 National
Cycle
Training
Programme
2024
£
389,531
1,203,434
1,592,965
671,941		 Other
projects
2024
£
33,593
(306,832)
(273,239)
404,411

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THE BIKEABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

9. ANALYSIS OF EXPENDITURE BY CHARITABLE ACTIVITIES (CONTINUED)

ANALYSIS OF DIRECT COSTS (continued)

Staff costs
Other costs
TOTAL 2023		 Widening
Participation
2024
£
(560)
-
(560)
33,180		 Total
funds
2024
£
632,839
1,140,576
1,773,415
1,500,496		 Total
funds
2023
£
500,517
999,979
1,500,496

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
TOTAL 2023		 Award
scheme
2024
£
8,978
-
-
1,973
655
1,087
301
534
91
91
255
548
75
51
19
14,658
18,761		 Core
services
2024
£
106,175
-
-
51,197
7,743
12,855
3,564
6,326
1,075
1,082
3,020
6,502
890
607
217
201,253
161,989		 National
Cycle
Training
Programme
2024
£
194,396
-
-
42,706
14,177
23,537
6,526
11,582
1,969
1,980
5,530
11,904
1,629
1,110
397
317,443
454,147		 Other
Projects
2024
£
-
476
-
4,995
4,500
-
-
1,868
1,160
52
4,907
-
-
635
12
18,605
6,096

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Docusign Envelope ID: 805DA343-3655-4C96-8804-3EEF845A738F

THE BIKEABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

9. ANALYSIS OF EXPENDITURE BY CHARITABLE 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
TOTAL 2023		 Widening
Participation
2024
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
22,211		 Total
funds
2024
£
309,549
476
-
100,871
27,075
37,479
10,391
20,310
4,295
3,205
13,712
18,954
2,594
2,403
645
551,959
663,204		 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

Governance costs for the group totalled £47,582 (2023 - £42,585), being audit and accounts costs of £45,179 (2023 - £41,268), and trustee expenses of £2,403 (2023 - £1,317).

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

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THE BIKEABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

10. ANALYSIS OF GRANTS

Grants, DfT costs
Innovation SEND Grants
Widening Participation Grants
TOTAL 2023		 Grants to
Institutions
2024
£
18,270,876
-
-
18,270,876
18,064,061		 Total
funds
2024
£
18,270,876
-
-
18,270,876
18,064,061		 Total
funds
2023
£
17,360,206
13,662
690,193
18,064,061

Standard training grants totalling £16,016,674 (115 grants) were made to Local Authorities for the organisation and provison of Bikeability Training which ranged from £14,593 to £589,865. In addition, Local Authorities claimed £74,885 in respect of SEND top up, £74,770 for HAF training and £957,895 scale up funding to help them meet the need to increase delivery.

Standard grants totalling £825,984 (17 grants) were made to School Games Organisers for the organisation and provision of Bikeability Training in their area ranging from £18,040 to £83,286. In addition, School Games Organisers claimed £4,840 in respect of SEND top up and £5,738 for HAF training. A further £10,090 was granted directly to a training provider for HAF training.

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

Standard 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 2024

2024 2023
£ £
LOCAL AUTHORITIES
Barnsley Metropolitan Borough Council 140,195 152,001
BCP Combined 123,345 165,510
Birmingham City Council 349,634 -
Bolton Council 143,444 134,622
Bradford MDC 156,423 165,405
Bristol City Council 133,363 142,490
Buckinghamshire County Council 147,015 156,617
Calderdale MBC 129,294 114,452
Cambridgeshire County Council 347,166 351,734
Cheshire East Council 210,643 239,948
Cheshire West and Chester Council 126,597 113,384
Cornwall Council 177,124 -
Cumbria County Council 234,574 236,069
Derby City Council 120,244 119,348
Devon County Council 351,781 338,890
Dorset County Council 116,210 111,940
Durham County Council 108,506 -
East Sussex County Council 148,924 139,090
Essex County Council 351,603 365,668
Gloucestershire County Council 223,920 223,110
Hampshire County Council 589,865 343,830
Hertfordshire County Council 244,055 166,465
Hull City Council 182,456 -
Kent County Council 438,002 168,987
Kirklees - Holmfirth High School 107,280 -
Kirklees - Newsome High School and Sports College 100,502 -
Lancashire County Council 453,282 599,821
Leeds City Council 486,306 506,991
Leicestershire County Council 127,290 123,751
Lincolnshire County Council 266,167 267,463
Liverpool City Region 542,928 485,583
Manchester City Council 175,267 122,779
Newcastle City Council - 111,970
Norfolk County Council 220,049 143,305
North Yorkshire County Council 112,770 130,185
Northumberland County Council - 101,195
Nottinghamshire County Council 269,145 232,807
Oxfordshire County Council 248,899 204,210
Plymouth City Council 196,296 -
Rochdale MBC 105,489 -

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

Sheffield City Council
Shropshire Council
Solihull MBC
Somerset County Council
South Gloucestershire Council
Southend On Sea Borough Council
Staffordshire County Council
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 standard (under £100,000)
OTHER GRANTS
Other (under £100,000) - HAF
Other (under £100,000) - SEND
Other (under £100,000) - Scaling up
Total grants paid to Local Authorities		 187,857
139,971
258,799
105,345
107,763
106,164
466,420
126,173
137,758
225,240
105,035
333,458
-
169,545
143,832
198,655
-
229,933
308,341
167,135
160,299
3,632,898
16,016,674
74,770
74,885
957,895
1,107,550
17,124,224		 183,655
162,946
217,123
103,075
-
-
512,551
113,449
165,829
143,450
100,863
329,719
285,386
186,450
143,694
-
124,427
216,978
233,145
153,388
181,753
3,408,384
13,945,885
-
-
-
-
13,945,885

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

SCHOOL GAME ORGANISERS
Mountbatten School
Newsome High School and Sports College
Sir John Hunt CSC
Swanwick School and Sports College
The Henry Cort Community College
Other standard (under £100,000)
Other (under £100,000) - HAF
Other (under £100,000) - SEND
OTHER
Modeshift
Widening Particpation
Innovation SEND grants
HAF
11.
AUDITORS' REMUNERATION
Fees payable to the Charity's auditor for the audit of the Charity's annual
accounts
Fees payable to the Charity's auditor in respect of:
Taxation compliance services
All non-audit services not included above		 -
-
-
-
-
825,984
5,738
4,840
836,562
300,000
-
-
10,090
310,090
18,270,876
2024
£
15,255
1,665
28,259		 122,375
107,324
189,928
106,081
100,840
2,355,695
-
-
2,982,243
300,000
690,193
112,529
33,211
1,135,933
18,064,061
2023
£
15,810
1,540
23,918

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THE BIKEABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

12. 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
2024
£
809,084
78,132
55,172
942,388		 Group
2023
£
682,563
68,634
48,909
800,106		 Charity
2024
£
809,084
78,132
55,172
942,388		 Charity
2023
£
682,563
68,634
48,909
800,106

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

Group Group Charity Charity
2024 2023 2024 2023
No. No. No. No.
Direct charitable and management 23 20 23 20

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

Group Group
2024 2023
No. No.
In the band £70,001 - £80,000 - 1
In the band £80,001 - £90,000 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 £304,326 (2023 - £284,229).

During the period, 9 Trustees (2023 - 7) received reimbursement of travel expenses totalling £2,403 (2023 - £1,317).

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THE BIKEABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
13.
TANGIBLE FIXED ASSETS
GROUP AND CHARITY
COST
Additions
At 31 March 2024
DEPRECIATION
Charge for the year
At 31 March 2024
NET BOOK VALUE
At 31 March 2024
At 31 March 2023		 Equipment
£
3,329
3,329
476
476
2,853
-

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

14. FIXED ASSET INVESTMENTS

CHARITY
COST OR VALUATION
At 1 April 2023
AT 31 MARCH 2024		 Investments
in
subsidiary
companies
£
100
100

PRINCIPAL SUBSIDIARIES

The following was a subsidiary undertaking of the Charity:

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

The financial results of the subsidiary for the year were:

Name Income Expenditure (Loss) for
£ £ the year
£
Bikeability Trading Limited 26,500 (22,184) 4,316
Net
liabilities
£
(502)

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

15. STOCKS

Group Group Charity Charity
2024 2023 2024 2023
£ £ £ £
Award material 21,836 17,515 21,836 17,515

16. DEBTORS

Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income		 Group
2024
£
8,097
-
328
100,691
109,116		 Group
2023
£
43,821
-
9,519
188,941
242,281		 Charity
2024
£
8,097
49,618
328
100,691
158,734		 Charity
2023
£
43,821
5,846
9,519
188,941
248,127

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
Grants payable		 Group
2024
£
115,765
114,638
3,508
1,124,868
5,127,088
6,485,867		 Group
2023
£
219,077
403,241
1,130
2,068,193
5,643,356
8,334,997		 Charity
2024
£
115,765
114,638
3,508
1,045,318
5,127,088
6,406,317		 Charity
2023
£
219,077
403,241
1,130
2,065,833
5,643,356
8,332,637

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 £55,172 (2023 - £48,909). No contributions were payable to the funds at the balance sheet date (2023 - £Nil).

Included within Other taxation and social security is a VAT liability of £93,425 (2023 - £385,486).

Deferred income at 1 April 2023
Resources deferred during the year
Amounts released from previous periods		 Group
2024
£
1,984,370
902,013
(1,984,370)
902,013		 Group
2023
£
-
1,984,370
-
1,984,370

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

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

18. STATEMENT OF FUNDS

STATEMENT OF FUNDS - CURRENT YEAR


UNRESTRICTED FUNDS
DESIGNATED FUNDS
Innovation fund
GENERAL FUNDS
General Funds
Subsidiary funds
TOTAL UNRESTRICTED FUNDS
RESTRICTED FUNDS
National Cycle Training Programme
Widening Participation Fund
Other projects
TOTAL OF FUNDS		 Balance at 1
April 2023
£
665,419
758,669
(4,918)
753,751
1,419,170
5,833,896
151,577
31,174
6,016,647
7,435,817		 Income
£
2,535
1,609,510
26,500
1,636,010
1,638,545
18,216,553
-
17,950
18,234,503
19,873,048		 Expenditure
£
325,966
(1,464,592)
(22,184)
(1,486,776)
(1,160,810)
(19,440,927)
560
(17,257)
(19,457,624)
(20,618,434)		 Balance at
31 March
2024
£
993,920
903,587
(602)
902,985
1,896,905
4,609,522
152,137
31,867
4,793,526
6,690,431

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

18. STATEMENT OF FUNDS (CONTINUED)

Designated Funds

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

Restricted Funds

National Cycle Training Programme relates to a grant from Active Travel England and 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.

During the previous year grant funding received from DfT amounting to £300,000 and was awarded to Modeshift for the Modeshift STARs Active Travel Academies. In 23/24 the Trust awarded Modeshift £300,000 from underspend cycle training funds as agreed with the Department of Transport.

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

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Docusign Envelope ID: 805DA343-3655-4C96-8804-3EEF845A738F

THE BIKEABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

18. 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 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: 805DA343-3655-4C96-8804-3EEF845A738F

THE BIKEABILITY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

19. ANALYSIS OF NET ASSETS BETWEEN FUNDS

ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT PERIOD

Unrestricted
funds
2024
£
Tangible fixed assets
-
Current assets
2,270,162
Creditors due within one year
(373,257)
TOTAL
1,896,905
ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR PERIOD
Unrestricted
funds
2023
£
Current assets
2,126,441
Creditors due within one year
(707,271)
TOTAL
1,419,170
20.
RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW
ACTIVITIES
Net expenditure for the period (as per Statement of Financial Activities)
ADJUSTMENTS FOR:
Amortisation / depreciation charges
Investment income
(Increase) / decrease in stocks
Decrease / (increase) in debtors
(Decrease) / increase in creditors
NET CASH (USED IN) / PROVIDED BY OPERATING ACTIVITIES		 Restricted
funds
2024
Total
funds
2024
£
£
2,853
2,853
10,903,283
13,173,445
(6,112,610)
(6,485,867)
4,793,526
6,690,431
Restricted
funds
2023
Total
funds
2023
£
£
13,644,373
15,770,814
(7,627,726)
(8,334,997)
6,016,647
7,435,817
FROM OPERATING
Group
Group
2024
2023
£
£
(745,386)
(305,659)
476
148,349
(151,498)
(109,832)
(4,321)
20,010
133,165
(176,691)
(1,849,130)
1,281,592
(2,616,694)
857,769

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

21. ANALYSIS OF CASH AND CASH EQUIVALENTS

Cash in hand
TOTAL CASH AND CASH EQUIVALENTS		 Group
2024
£
13,042,493
13,042,493		 Group
2023
£
15,511,018
15,511,018

22. ANALYSIS OF CHANGES IN NET DEBT

Cash at bank and in hand At 1 April
2023
£
15,511,018
15,511,018		 Cash flows
£
(2,468,525)
(2,468,525)		 At 31 March
2024
£
13,042,493
13,042,493

23. RELATED PARTY TRANSACTIONS

There were no transactions with related parties in the year (2023 - None).

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