## **Bike the UK for MS**
## **Annual Report and Financial Statements**
## **For the Period**
**From 01/10/2020 to 30/09/2021**
## **Registered Charity Number: 1172717**
Bike the UK for MS Period from 1 October 2020 to 30 September 2021
## **CONTENTS**
|CHARITY INFORMATION|2|
|---|---|
|TRUSTEE’S ANNUAL REPORT|3|
|STRUCTURE, GOVERNANCE AND MANAGEMENT|5|
|TRUSTEES' RESPONSIBILITIES STATEMENT|6|
|INDEPENDENT EXAMINER’S REPORT|7|
|STATEMENTS OF FINANCIAL ACTIVITY|8|
|BALANCE SHEET|9|
|NOTES TO THE FINANCIAL STATEMENTS|10|
1
Bike the UK for MS Period from 1 October 2020 to 30 September 2021
## **CHARITY INFORMATION**
## **Trustees**
Mr Donald Fraser Chairman, appointed 24 April 2017 Mr Peter Whateley Mr Felix Young (resigned 14 December 2021) Mr Robert Morris Mrs Nicolla Tanguy (appointed 29 March 2021)
**Registered Office** Copperfields, Seale Lane, Puttenham, Surrey, GU3 1AX **Charity Registration** 1172717 **Bankers** Lloyds Bank 75 Castle St Farnham GU9 7LT
2
Bike the UK for MS Period from 1 October 2020 to 30 September 2021
## **TRUSTEE’S ANNUAL REPORT**
The Trustees present their annual report and financial statement for the period from 1 October 2020 to 30 September 2021 giving the results of Bike the UK for MS.
## **OBJECTIVES**
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the charity commission relating to public benefit and in particular to its supplementary public benefit guidance.
Bike the UK for MS has three main objectives: raising awareness and promoting Multiple Sclerosis, providing relief and assistance to those living with the disease and their families and to advance knowledge and research about the disease to one day ‘Stop MS’.
## **REVIEW OF ACTIVITIES**
The primary focus for the period of 2020-21 has been to recover from the Covid pandemic whilst ensuring a level of support to the MS community during difficult times. Recovery involves the charity meeting its daily funding requirements and finding new income streams to reach its surplus aims. The main strategy for fundraising has returned to organising multi day cycling challenges across the UK, with Covid safety protocols in place for the summer of 2021. Alongside these events, there were virtual challenges and external fundraisers to support reaching the income targets.
Bike the UK for MS works closely with the MS Society, making grants to their local groups across the country. The groups, chosen by the Bike the UK for MS Trustees, put their grants towards supporting members and their families through the likes of exercise classes to relieve symptoms and home modifications to maintain independence.
Grants are made to the MS Society towards specific research projects chosen by the Trustees.
Bike the UK for MS organise events with MS groups to encourage mobility and promote activity by encompassing cycling into their lives. Much of the year has still involved restrictions on socialising, making support group events difficult. Instead the focus was maintained on virtual home exercise sessions to relieve symptoms of MS.
3
Bike the UK for MS Period from 1 October 2020 to 30 September 2021
## **FINANCIAL REVIEW**
## **Financial Position**
Total income for the period of October 2020 to September 2021 was £112.8k. This was largely thanks to fundraising completed by our volunteer cyclists totalling £68.4k, the associated Gift Aid of £11.9k and £30.6k in grants from the Job Retention Scheme and Bike the US for MS.
Grants paid out through the period to the MS Society, to support local MS groups and fund research projects, totalled £20k. Other expenditure on charitable activities of £37.7k related to our cycling challenges across the UK to raise awareness of the disease.
The remaining expenditure of £44.9k for the period went towards raising funds to help support these grants and charitable activities. A surplus of £55.3k was carried forward to the following year.
## **Surplus and Reserves Policy**
Bike the UK for MS aims to accumulate a surplus in order to maintain liquidity to cover 12 months of salary expenditure and to cover initial expenditure to ensure growth in annual fundraising for the following year. This year Bike the UK for MS accumulated a surplus of 11 months of salary expenditure.
This policy is subject to annual review by the Trustees where they consider the charity’s requirements.
## **Assessment of Going Concern**
After consideration, the Trustees have concluded that the main uncertainty continues to revolve around the Covid-19 pandemic and how it will impact the charity’s income streams. The cycling challenges for 2022 will proceed as planned, however it is unclear how the pandemic will impact registrations and confidence in fundraising. The rise in cost of living is also a concern, both as an organisation with event costs increasing and for confidence of participants to take on the events.
The focus will be ensuring that the charity meets its daily funding requirements and finding new income streams for the coming year. The charity has adequate resources for the coming year and therefore in preparing these financial statements has adopted the going concern assumption.
## **Future Developments**
In 2021-2022, Bike the UK for MS will be expanding with the addition of a university placement student to help plan for longer term development and stability. There will be continued adaptation to the impacts of Covid-19, however a return to a full schedule of fundraising events is planned as well as continuing to support the needs of the MS community.
4
Bike the UK for MS Period from 1 October 2020 to 30 September 2021
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Constitution**
Bike the UK for MS is a Charitable Incorporated Organisation (CIO). The charity was incorporated as a CIO on 24 April 2017.
The principal object of the charity are for public benefit: to promote and advance health; to provide relief and assistance to those suffering with health problems and their families; to advance and promote knowledge in health and to advance research into health sciences, in particular but without limitation in relation to Multiple Sclerosis.
## **Method of Appointment of Trustees**
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the constitution. They are appointed to ensure the board has the right mix of skills and experience to best serve the charity with its strategy.
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Bike the UK for MS Period from 1 October 2020 to 30 September 2021
## **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 charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:
∙ select suitable accounting policies and then apply them consistently;
∙ observe the methods and principles in the Charities SORP;
∙ make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report was approved by the Trustees, on 26 July 2022 and signed on their behalf by:
……………………………………………..
Mr Donald Fraser (Chairman)
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Bike the UK for MS Period from 1 October 2020 to 30 September 2021
## **INDEPENDENT EXAMINER’S REPORT**
## **FOR THE PERIOD FROM 1 October 2020 TO 30 SEPTEMBER 2021**
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 30 September 2021.
## **Responsibilities and Basis of Report**
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent Examiner’s Statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
1. the accounting records were not kept in accordance with section 130 of the Charities Act; or
2. the accounts did not accord with the accounting records; or
3. the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed: ………………………………………. Dated: Signed: BERR AP2..0.. Dated: 25/07/2022 Georgina Dean ACA Georgina Dean ACA
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Bike the UK for MS Period from 1 October 2020 to 30 September 2021
## **STATEMENTS OF FINANCIAL ACTIVITY**
|**NOTE**
**INCOME FROM:**
Donations and legacies
Other trading activities
**_TOTAL INCOME_**
2
**EXPENDITURE ON:**
Raising funds
Charitable activities
**_TOTAL EXPENDITURE_**
3
**_Net movement in funds_**
**RECONCILIATION OF FUNDS**
**_Total funds brought_**
**_forward_**
**_Total funds carried_**
**_forward_**|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Total**
**funds**
**Prior**
**Year**
**funds**
**£**
**£**
**£**
**£**
112,424
250
112,674
58,415
167
-
167
100|
|---|---|
||112,591
250
112,841
58,515|
||44,908
-
44,908
25,764
57,426
250
57,676
13,134|
||102,334
250
102,584
38,898|
|||
||10,257
-
10,257
19,617|
||45,023
-
45,023
25,406|
||55,280
-
55,280
45,023|
8
Bike the UK for MS Period from 1 October 2020 to 30 September 2021
## **BALANCE SHEET**
|**BALANCE SHEET**||||||
|---|---|---|---|---|---|
||||**Restricted**|||
|||**Unrestricted**|**Income**|**Total this**|**Total**|
||**NOTE**|**funds**|**funds**|**year**|**last year**|
|||**£**|**£**|**£**|**£**|
|**Fixed assets**||||||
|**Tangible assets**|6|506|-|506|770|
|**_Total fixed assets_**||506|-|506|770|
|**Current assets**||||||
|**Debtors**|7|30,887|-|30,887|9,398|
|**Prepayments**||1,357|-|1,357|1,207|
|**Cash at bank and in hand**|9|45,785|250|46,035|38,648|
|**_Total current assets_**||78,029|250|78,279|49,253|
|**Creditors: amounts falling**||||||
|**due within one year**|8|23,255|250|23,505|5,000|
|**_Net current_**||||||
|**_assets/(liabilities)_**||54,774|-|54,774|44,253|
|**_Total assets less current_**||||||
|**_liabilities_**||55,280|-|55,280|45,023|
|**_Total net assets or_**||||||
|**_liabilities_**||55,280|-|55,280|45,023|
|**Funds of the Charity**||||||
|**Restricted Income funds**|||-|-|-|
|**Unrestricted funds**||55,280||55,280|45,023|
|**_Total funds_**||55,280|-|55,280|45,023|
The financial statements were approved by the board of trustees and authorised for issue on 26 July 2022 and are signed on its behalf by:
……………………………………………..
Mr Donald Fraser (Chairman)
9
Bike the UK for MS Period from 1 October 2020 to 30 September 2021
## **NOTES TO THE FINANCIAL STATEMENTS**
## **1. Principal Accounting Policies**
## **1.1. Basis of Preparation**
The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102) issued 1st January 2015 and the Charities Act 2011
Bike the UK for MS constitutes a public benefit entity as defined by FRS102.
## **1.2. Going Concern**
The accounts presented have been prepared on a Going Concern basis.
## **1.3.Income**
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS102 SORP).
In the case of performance related grants, income must only be recognised to the extent that the charity has provided the specified goods or services as entitlement to the grant only occurs when the performance related conditions are met (5.16 FRS 102 SORP).
Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grant will be received.
10
Bike the UK for MS Period from 1 October 2020 to 30 September 2021
## **1.4. Expenditure**
Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SoFA once the recipient of the grant has provided the specified service or output.
Where there are no conditions attaching to the grant that enables the donor charity to realistically avoid the commitment, a liability for the full funding obligation must be recognised.
The charity made no redundancy payments during the reporting period. No material item of deferred income has been included in the accounts.
## **1.5.Tangible fixed assets and depreciation**
Individual fixed assets costing more than £500 are capitalised at cost and are depreciated over their estimated useful lives on a straight line basis as set out below.
Depreciation rates are as follows:
Computer Equipment over 3 years
## **1.6.Debtors**
Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.
## **1.7. Creditors**
The charity has creditors which are measured at settlement amounts less any trade discounts. No material item of deferred income has been included in the accounts.
## **1.8.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.
11
Bike the UK for MS Period from 1 October 2020 to 30 September 2021
## **2. Analysis of Income**
|**Analysis**
**Donations**
**and**
**legacies:**
Donations and gifts
Gift Aid
Government Grant - Job
Retention Scheme
General grants provided by
government/other charities
Sponsorships which are in
substance donations
**Other**
**trading**
**activities:**
Sale of Apparel
**TOTAL INCOME**|**Unrestricted**
**funds**
**Restricted**
**Income**
**funds**
**Total**
**funds**
**Prior**
**Year**
**£**
**£**
**£**
**£**
68,441
-
68,441
19,763
11,912
-
11,912
1,829
15,631
-
15,631
6,973
15,000
250
15,250
24,850
1,440
-
1,440
5,000
167
-
167
100|
|---|---|
||112,591
250
112,841
58,514|
12
Bike the UK for MS Period from 1 October 2020 to 30 September 2021
## **3. Analysis of Expenditure**
|**Analysis**
**Expenditure**
**on raising**
**funds:**
Incurred seeking donations
Incurred seeking grants
Advertising, marketing and
publicity
Insurance
Website development costs
**Total expenditure on**
**raising funds**
**Expenditure**
**on charitable**
**activities**
Grants to MS Society
Bike the UK for MS
Challenges (MS
Awareness)
**Total expenditure on**
**charitable activities**
**TOTAL EXPENDITURE**
**4. Staff Costs**
**Salaries and wages**
**Social Security Costs**
**Pension costs**
**Total staff**
**Average head count in**
**the year**|**Unrestricted**
**funds**
**Restricted**
**Expenditure**
**funds**
**Total funds**
**Prior**
**Year**
**£**
**£**
**£**
**£**
36,396
-
36,396
20,711
5,396
-
5,396
2,575
1,425
-
1,425
896
581
-
581
375|**Unrestricted**
**funds**
**Restricted**
**Expenditure**
**funds**
**Total funds**
**Prior**
**Year**
**£**
**£**
**£**
**£**
36,396
-
36,396
20,711
5,396
-
5,396
2,575
1,425
-
1,425
896
581
-
581
375|
|---|---|---|
||1,110
-
1,110
1,207||
||44,908
-
44,908
25,764||
||19,750
250
20,000
5,000
37,676
-
37,676
8,134||
||57,426
250
57,676
13,134||
||102,334
250
102,584
38,898||
||**costs**|**This year**
**Prior Year**
**£**
**£**
52,753
25,750
-
-
1,210
-
53,963
25,750
**This year**
**Prior**
**Number**
**Year**
2
1
**Total**
2
1|
|||**Total**|
13
Bike the UK for MS Period from 1 October 2020 to 30 September 2021
## **5. Grantmaking**
|**Analysis of Grants Paid**
MS Society Projects & Local
Groups
**_Total_**
**6. Tangible Fixed Assets**
**Cost:**
**As at 1 October 2020**
**Additions**
**As at 30 September 2021**
**Depreciation:**
**As at 1 October 2020**
**Charged for the year**
**As at 30 September 2021**
**Net Book Value:**
**As at 30 September 2020**
**As at 30 September 2021**|**Grants to**
**institutions**
**Total**
**Prior Year**
**£**
**£**
**£**
20,000
20,000
5,000|**Grants to**
**institutions**
**Total**
**Prior Year**
**£**
**£**
**£**
20,000
20,000
5,000|
|---|---|---|
||**20,000**
**20,000**
**5,000**||
|||**Computer**
**Equipment**
**Total**
**£**
**£**
792
792
-
-
792
792
22
22
264
264
286
286
770
770
506
506|
14
Bike the UK for MS Period from 1 October 2020 to 30 September 2021
## **7. Debtors**
|**Analysis of debtors**
**Bike the US for MS**
**Enthuse**
**HMRC - Gift Aid**
**HMRC - Job Retention Scheme**
**Sponsorships**
**Total**
**8. Creditors**
**Analysis of creditors**
**Accruals for grants payable**
**Taxation and social security**
**Other Creditors**
**Total**
**9. Cash at bank and in hand**
**Cash at bank and in hand**
**Total**|**Analysis of debtors**
**Bike the US for MS**
**Enthuse**
**HMRC - Gift Aid**
**HMRC - Job Retention Scheme**
**Sponsorships**
**Total**
**8. Creditors**
**Analysis of creditors**
**Accruals for grants payable**
**Taxation and social security**
**Other Creditors**
**Total**
**9. Cash at bank and in hand**
**Cash at bank and in hand**
**Total**|**This year**
**Prior Year**
**£**
**£**
16,223
9,398
3,541
-
7,586
-
2,097
-
1,440
-|
|---|---|---|
|||30,887
9,398|
|||**Amounts falling due within one year**
**This year**
**Prior Year**
**£**
**£**
20,000
5,000
1,597
-
1,908|
|||23,505
5,000|
|||**This year**
**Prior Year**
**£**
**£**
46,035
38,648|
|||46,035
38,648|
15
Bike the UK for MS Period from 1 October 2020 to 30 September 2021
## **10.Statement of Funds**
## **Summary of Funds - Current Year**
|**Summary of Funds -**||
|---|---|
|
**Current Year**
Unrestricted Funds
Restricted Funds
**Total Funds**|**Balance at**
**30 September**
**2020**
**Income**
**Expenditure**
**Fund**
**balances**
**carried**
**forward**
**£**
**£**
**£**
**£**
45,023
112,591
(102,334)
55,280
-
250
(250)
-|
||45,023
112,841
(102,584)
55,280|
## **11. Transactions with Related Parties**
The trustees received no remuneration for their services in the current or previous year.
During the year, Bike the UK for MS received a grant of £15,000 (2020: £17,500) from Bike the US for MS. The balance outstanding at year end was £16,223 (2020: £9,398).
16