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## **Bike the UK for MS**
## **Annual Report and Financial Statements**
## **For the Period**
**From 01/10/2022 to 30/09/2023**
## **Registered Charity Number: 1172717**
Bike the UK for MS Period from 1 October 2022 to 30 September 2023
## **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 2022 to 30 September 2023
## **CHARITY INFORMATION**
## **Trustees**
Mr Donald Fraser Chairman, appointed 24 April 2017 Mr Peter Whateley Mr Robert Morris Mrs Nicolla Tanguy Mr Richard Kessell Appointed 14 March 2024 **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 2022 to 30 September 2023
## **TRUSTEE’S ANNUAL REPORT**
The Trustees present their annual report and financial statement for the period from 1 October 2022 to 30 September 2023 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 2022-23 has been ensuring a level of support to the MS community during difficult times. Our aims are to meet our daily funding requirements and find new income streams to reach its surplus aims. The main strategy for fundraising has focused on organising multi-day cycling challenges across the UK. 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 organises events with MS groups to encourage mobility and promote activity by encompassing cycling into their lives. The use of adapted bikes for all abilities on safe closed circuits has proved enjoyable for the groups and is something the charity will continue to develop.
3
Bike the UK for MS Period from 1 October 2022 to 30 September 2023
## **FINANCIAL REVIEW**
## **Financial Position**
Total income for the period of October 2022 to September 2023 was £95.3k. This was largely thanks to fundraising completed by our volunteer cyclists totalling £63.2k, the associated Gift Aid of £7.3k and £23.8k in grants from 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 £10k. Other expenditure on charitable activities of £56.6k related to our cycling challenges and sessions across the UK to raise awareness of the disease and relieve symptoms for those with MS.
The remaining expenditure of £48k for the period went towards raising funds to help support these grants and charitable activities. A surplus of £34.3k 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 9 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 relates to the continued rise in cost of living and how that impacts both registrations and confidence in fundraising. It will also continue to impact our event costs as inflation rises. The charity has seen a drop so far in participants for 2023-24, but hopes public confidence returns in the coming year along with some event changes to come in 2024-25.
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 2024-2025, Bike the UK for MS will be looking to make changes to their summer event schedule with a mixture of new events and new pricing model. They hope to reposition themselves to grow their fundraising efforts by increasing participant numbers on their challenges, actively seeking grants and sponsors. This will require a concerted effort with marketing, reaching new audiences and adapting to feedback provided by our participants.
4
Bike the UK for MS Period from 1 October 2022 to 30 September 2023
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.
5
Bike the UK for MS Period from 1 October 2022 to 30 September 2023
## **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 29 July 2024 and signed on their behalf by:
……………………………………………..
Mr Donald Fraser (Chairman)
6
Bike the UK for MS Period from 1 October 2022 to 30 September 2023
## **INDEPENDENT EXAMINER’S REPORT**
## **FOR THE PERIOD FROM 1 October 2022 TO 30 SEPTEMBER 2023**
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 30 September 2023.
## **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: 28/07/2024 Georgina Dean ACA
7
Bike the UK for MS Period from 1 October 2022 to 30 September 2023
## **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**
**£**
**£**
**£**
**£**
95,261
-
95,261
109,596
-
-
-
2,525|
|---|---|
||95,261
-
95,261
112,121|
||48,033
-
48,033
53,447
66,958
-
66,958
59,922|
||114,991
-
114,991
113,369|
|||
||(19,730)
-
(19,730)
(1,248)|
||54,032
-
54,032
55,280|
||34,302
-
34,302
54,032|
8
Bike the UK for MS Period from 1 October 2022 to 30 September 2023
## **BALANCE SHEET**
|**NOTE**
**Fixed assets**
**Tangible assets**
6
**_Total fixed assets_**
**Current assets**
**Debtors**
7
**Prepayments and Accrued**
**Income**
8
**Cash at bank and in hand**
9
**_Total current assets_**
**Creditors: amounts falling**
**due within one year**
10
**_Net current_**
**_assets/(liabilities)_**
**_Total assets less current_**
**_liabilities_**
**_Total net assets or_**
**_liabilities_**
**Funds of the Charity**
**Restricted Income funds**
11
**Unrestricted funds**
11
**_Total funds_**|**Unrestricted**
**funds**
**Restricted**
**Income**
**funds**
**Total this**
**year**
**Total**
**last year**
**£**
**£**
**£**
**£**
-
-
-
242|
|---|---|
||-
-
-
242|
||11,524
-
11,524
26,397
4,453
-
4,453
3,888
31,570
-
31,570
45,346|
||47,547
-
47,547
75,631|
||13,245
-
13,245
21,841|
||34,302
-
34,302
53,790|
||34,302
-
34,302
54,032|
||34,302
-
34,302
54,032|
||-
-
-|
||34,302
34,302
54,032|
||34,302
-
34,302
54,032|
The financial statements were approved by the board of trustees and authorised for issue on 29 July 2024 and are signed on its behalf by:
……………………………………………..
Mr Donald Fraser (Chairman)
9
Bike the UK for MS Period from 1 October 2022 to 30 September 2023
## **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 United Kingdom and the Republic of Ireland (FRS102) (effective 1 January 2019), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102) 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 2022 to 30 September 2023
## **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 2022 to 30 September 2023
## **1.9.Foreign Exchange**
Transactions in currencies other than the functional currency (foreign currency) are initially recorded at the exchange rate prevailing on the date of the transaction.
Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the reporting date. Non-monetary assets and liabilities denominated in foreign currencies are translated at the rate ruling at the date of the transaction.
12
Bike the UK for MS Period from 1 October 2022 to 30 September 2023
## **2. Analysis of Income**
|**Analysis**
**Donations**
**and**
**legacies:**
Donations and gifts
Gift Aid
General grants provided
by government/other
charities
Sponsorships which are in
substance donations
**Other**
**trading**
**activities:**
Sale of Apparel
Gains from FX
**TOTAL INCOME**|**Unrestricted**
**funds**
**Restricted**
**Income**
**funds**
**Total**
**funds**
**Prior Year**
**£**
**£**
**£**
**£**
63,203
-
63,203
81,021
7,318
-
7,318
9,637
23,841
-
23,841
17,938
899
-
899
1,000
-
-
-
-
-
-
-
2,525|
|---|---|
||95,261
-
95,261
112,121|
13
Bike the UK for MS Period from 1 October 2022 to 30 September 2023
## **3. Analysis of Expenditure**
|**Analysis**
**Unrestricted**
**funds**
**Restricted**
**Expenditure**
**funds**
**Total**
**funds**
**Prior Year**
**£**
**£**
**£**
**£**
**Expenditure**
**on raising**
**funds:**
Incurred seeking donations
37,587
-
37,587
39,924
Incurred seeking grants
7,634
-
7,634
5,626
Advertising, marketing and
publicity
1,413
-
1,413
6,318
Insurance
488
-
488
437
Website development costs
911
-
911
1,142
**Total expenditure on**
**raising funds**
48,033
-
48,033
53,447
**Expenditure**
**on charitable**
**activities**
Grants to MS Society
10,000
-
10,000
18,000
Individual Grant
Programme
-
-
-
2,000
Host Donations
320
-
320
-
Bike the UK for MS -
Awareness Raising Mission
56,638
-
56,638
39,922
**Total expenditure on**
**charitable activities**
66,958
-
66,958
59,922
**TOTAL EXPENDITURE**
114,991
-
114,991
113,369
**4. Staff Costs**
**This year**
**Prior Year**
**£**
**£**
**Salaries and wages**
74,565
54,988
**Social Security Costs**
-
-
**Pension costs**
1,776
1,275
**Total staff costs**
76,341
56,263
**This year**
**Prior**
**Number**
**Year**
**Average head count in**
**the year**
3
2
**Total**
3
2|**Unrestricted**
**funds**
**Restricted**
**Expenditure**
**funds**
**Total**
**funds**
**Prior Year**
**£**
**£**
**£**
**£**
37,587
-
37,587
39,924
7,634
-
7,634
5,626
1,413
-
1,413
6,318
488
-
488
437|**Unrestricted**
**funds**
**Restricted**
**Expenditure**
**funds**
**Total**
**funds**
**Prior Year**
**£**
**£**
**£**
**£**
37,587
-
37,587
39,924
7,634
-
7,634
5,626
1,413
-
1,413
6,318
488
-
488
437|
|---|---|---|
||911
-
911
1,142||
||48,033
-
48,033
53,447||
||10,000
-
10,000
18,000
-
-
-
2,000
320
-
320
-
56,638
-
56,638
39,922||
||66,958
-
66,958
59,922||
||114,991
-
114,991
113,369||
|||**This year**
**Prior Year**
**£**
**£**
74,565
54,988
-
-
1,776
1,275
76,341
56,263
**This year**
**Prior**
**Number**
**Year**
3
2
**Total**
3
2|
|||**Total**|
14
## Bike the UK for MS
## Period from 1 October 2022 to 30 September 2023
## **5. Grantmaking**
|**Analysis of Grants Paid**
MS Society Projects & Local
Groups
Individual Grant Programme
Challenge Host Donations
**_Total_**
**6. Tangible Fixed Assets**
**Cost:**
**As at 1 October 2022**
**Additions**
**As at 30 September 2023**
**Depreciation:**
**As at 1 October 2022**
**Charged for the year**
**As at 30 September 2023**
**Net Book Value:**
**As at 30 September 2022**
**As at 30 September 2023**|**Grants to**
**institutions**
**Total**
**Prior Year**
**£**
**£**
**£**
10,000
10,000
18,000
-
-
2,000|**Grants to**
**institutions**
**Total**
**Prior Year**
**£**
**£**
**£**
10,000
10,000
18,000
-
-
2,000|
|---|---|---|
||320
320
-||
||**10,320**
**10,320**
**20,000**||
|||**Computer**
**Equipment**
**Total**
**£**
**£**
792
792
-
-
792
792
550
550
242
242
792
792
242
242
-
-|
15
Bike the UK for MS Period from 1 October 2022 to 30 September 2023
## **7. Debtors**
|**Analysis of debtors**
**Bike the US for MS**
**Enthuse**
**HMRC - Gift Aid**
**Sponsorships**
**Total**
**8. Prepayments and Accrued Income**
**Analysis of prepayments**
**Inventory**
**Accruals for Gift Aid**
**Accruals for Van Sponsorship**
**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**
**Sponsorships**
**Total**
**8. Prepayments and Accrued Income**
**Analysis of prepayments**
**Inventory**
**Accruals for Gift Aid**
**Accruals for Van Sponsorship**
**Total**
**9. Cash at bank and in hand**
**Cash at bank and in hand**
**Total**|**This year**
**Prior Year**
**£**
**£**
11,524
17,972
-
4,785
-
2,640
-
1,000|
|---|---|---|
|||11,524
26,397|
|||**Amounts falling due within one year**
**This year**
**Prior Year**
**£**
**£**
2,289
3,888
1,284
-
880
-|
|||4,453
3,888|
|||**This year**
**Prior Year**
**£**
**£**
31,570
45,346|
|||31,570
45,346|
16
Bike the UK for MS Period from 1 October 2022 to 30 September 2023
## **10.Creditors**
## **Analysis of creditors**
## **Amounts falling due within one year**
|**Accruals for grants payable**
**Taxation and social security**
**Other Creditors**
**Total**|**This year**
**Prior Year**
**£**
**£**
10,000
18,000
3,245
1,681
-
2,160|
|---|---|
||13,245
21,841|
## **11. Statement of Funds**
## **Summary of Funds - Current Year**
|**Summary of Funds -**
**Current Year**||
|---|---|
|
Unrestricted Funds
Restricted Funds
**Total Funds**|**Balance at**
**30 September**
**2022**
**Income**
**Expenditure**
**Balance at**
**30 September**
**2023**
**£**
**£**
**£**
**£**
54,032
95,261
(114,991)
34,302
-
-
-
-|
||54,032
95,261
(114,991)
34,302|
## **12.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 total of £23,841 in grants (2022: £17,938) from Bike the US for MS. The balance outstanding at year end was £11,524 (2022: £17,972). In addition, there was a donation totalling £650 made by trustee, Peter Whateley, to the charity.
17