Bike the UK for MS
Annual Report and Financial Statements
For the Period
From 01/10/2023 to 30/09/2024
Registered Charity Number: 1172717
Bike the UK for MS Period from 1 October 2023 to 30 September 2024
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 |
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Bike the UK for MS Period from 1 October 2023 to 30 September 2024
CHARITY INFORMATION
Trustees
Mr Donald Fraser Chairman, appointed 24 April 2017 Mr Peter Whateley Mr Robert Morris Mrs Nicolla Tanguy Mr Richard Kessell
Registered Office Copperfields, Seale Lane, Puttenham, Surrey, GU3 1AX Charity Registration 1172717 Bankers Lloyds Bank 75 Castle St Farnham GU9 7LT
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Bike the UK for MS Period from 1 October 2023 to 30 September 2024
TRUSTEE’S ANNUAL REPORT
The Trustees present their annual report and financial statement for the period from 1 October 2023 to 30 September 2024 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 2023-24 was to maintain and improve the charity’s support for the MS community, while adapting to an increasingly competitive fundraising landscape. Our strategy centred on organising multi-day cycling challenges across the UK, including both new and established events. These rides served the dual purpose of raising vital funds and engaging participants with the mission to fight MS.
Alongside our physical rides, we supported external fundraisers and virtual challenges to diversify participation and revenue streams. In a continued effort to ensure that our impact reached those living with MS, we worked in partnership with the MS Society to provide grants to local groups. These grants supported initiatives such as physiotherapy and exercise sessions, respite activities, and wellbeing support for people with MS and their families.
A growing area of our work was the development of accessible cycling sessions, using adapted bikes in safe, inclusive settings. These sessions proved especially valuable in promoting mobility, reducing isolation, and creating joyful shared experiences for participants living with MS. We look forward to continuing and expanding these sessions in future years.
Our work throughout the year would not have been possible without the vital contribution of volunteers. From leading cycling challenges and supporting riders on the road, to assisting with trip logistics, outreach, and fundraising efforts, volunteers played a central role in delivering our mission. Their commitment and enthusiasm significantly expanded our capacity to run events safely and effectively, while fostering the sense of community that defines our work. While we do not place a 3
Bike the UK for MS Period from 1 October 2023 to 30 September 2024
monetary value on this contribution in the financial statements, the charity deeply values the time, skills, and passion our volunteers bring. We estimate that over 2,500 hours of volunteer time were dedicated to our activities during the year.
FINANCIAL REVIEW
Financial Position
Total income for the year was £99.5k. This was primarily driven by donations and fundraising by our volunteer cyclists (£53.2k), Gift Aid (£4.5k), and generous grant support (£41.8k), including £39.5k from our US-based partner charity, Bike the US for MS.
Total expenditure for the year was £103k. Of this, £56.5k was spent directly on charitable activities including our awareness-raising cycling events, accessible cycling sessions, and grants to the MS Society. The remaining £46.5k covered the costs of fundraising and donor engagement.
The year closed with a net deficit of £3.5k, bringing our total funds to £30.8k (of which £2.25k is restricted). Despite the modest shortfall, the charity remains in a stable financial position.
Surplus and Reserves Policy
Bike the UK for MS ideally aims to maintain reserves equivalent to 12 months of salary expenditure and initial outlay for the following year’s events. As of year-end, we held unrestricted reserves of £28.5k, representing approximately 8 months of salary cover and the trustees were comfortable with this. The Trustees continue to review this position annually to ensure financial sustainability.
Assessment of Going Concern
The Trustees recognise ongoing uncertainty in the fundraising environment due to rising living costs and donor fatigue. We also saw a decline in rider registrations for the 2023–24 season. However, efforts are underway to revitalise interest through refreshed event formats, improved marketing, and increased grant-seeking. Given the charity’s current reserves and funding pipeline, the Trustees believe Bike the UK for MS is well-positioned to continue operations and have therefore prepared these accounts on a going concern basis.
Future Developments
In 2024–25, the charity will introduce a new pricing model and updated summer challenge calendar aimed at improving accessibility and increasing participation. The charity will continue to diversify its income streams by pursuing new grant opportunities and corporate partnerships, while deepening its engagement with past
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Bike the UK for MS Period from 1 October 2023 to 30 September 2024
riders and MS groups. We will also scale up our accessible cycling programme, with five sessions planned across the UK in collaboration with MS Society groups.
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 2023 to 30 September 2024
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:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgments and accounting estimates that are reasonable and prudent;
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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 2025 and signed on their behalf by:
……………………………………………..
Mr Donald Fraser (Chairman)
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Bike the UK for MS Period from 1 October 2023 to 30 September 2024
INDEPENDENT EXAMINER’S REPORT
FOR THE PERIOD FROM 1 October 2023 TO 30 SEPTEMBER 2024
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 30 September 2024.
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:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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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: 29/07/2025 Georgina Dean ACA
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Bike the UK for MS Period from 1 October 2023 to 30 September 2024
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 £ £ £ £ 97,213 2,250 99,463 95,261 - - - - |
|---|---|
| 97,213 2,250 99,463 95,261 |
|
| 46,496 - 46,496 48,033 56,511 - 56,511 66,958 |
|
| 103,007 - 103,007 114,991 |
|
| (5,794) 2,250 (3,544) (19,730) |
|
| 34,302 - 34,302 54,032 |
|
| 28,508 2,250 30,758 34,302 |
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Bike the UK for MS Period from 1 October 2023 to 30 September 2024
BALANCE SHEET
| BALANCE SHEET | |||||
|---|---|---|---|---|---|
| Restricted | |||||
| Unrestricted | Income | Total this | Total | ||
| NOTE | funds | funds | year | last year | |
| £ | £ | £ | £ | ||
| Fixed assets | |||||
| Tangible assets | 6 | - | - - |
- | - |
| Total fixed assets | - | - | - | - | |
| Current assets | |||||
| Debtors | 7 | 205 | - | 205 | 11,524 |
| Prepayments and Accrued | |||||
| Income | 8 | 7,890 | - | 7,890 | 4,453 |
| Cash at bank and in hand | 9 | 21,943 | 2,250 | 24,193 | 31,570 |
| Total current assets | 30,038 | 2,250 | 32,288 | 47,547 | |
| Creditors: amounts falling | |||||
| due within one year | 10 | 1,530 | - | 1,530 | 13,245 |
| Net current | |||||
| assets/(liabilities) | 28,508 | 2,250 | 30,758 | 34,302 | |
| Total assets less current | |||||
| liabilities | 28,508 | 2,250 | 30,758 | 34,302 | |
| Total net assets or | |||||
| liabilities | 28,508 | 2,250 | 30,758 | 34,302 | |
| Funds of the Charity | |||||
| Restricted Income funds | 11 | - | 2,250 | 2,250 | - |
| Unrestricted funds | 11 | 28,508 | - | 28,508 | 34,302 |
| Total funds | 28,508 | 2,250 | 30,758 | 34,302 |
The financial statements were approved by the board of trustees and authorised for issue on 29 July 2025 and are signed on its behalf by:
……………………………………………..
Mr Donald Fraser (Chairman)
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Bike the UK for MS Period from 1 October 2023 to 30 September 2024
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.
The value of any voluntary help received is not included in the accounts, but is described in the trustees’ annual report.
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Bike the UK for MS Period from 1 October 2023 to 30 September 2024
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.
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Bike the UK for MS Period from 1 October 2023 to 30 September 2024
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.
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Bike the UK for MS Period from 1 October 2023 to 30 September 2024
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 TOTAL INCOME |
Unrestricted funds Restricted Income funds Total funds Prior Year £ £ £ £ 53,213 - 53,213 63,203 4,476 - 4,476 7,318 39,524 2,250 41,774 23,841 - - - 899 |
|---|---|
| 97,213 2,250 99,463 95,261 |
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Bike the UK for MS Period from 1 October 2023 to 30 September 2024
3. Analysis of Expenditure
| Restricted | |||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Expenditure |
Total | |||||
| funds | funds | funds | Prior |
Year | |||
| Analysis | £ | £ |
£ | £ | |||
| Expenditure on raising |
Incurred | seeking donations | 36,333 | - |
36,333 | 37,587 |
|
| funds: | Incurred | seeking grants | 8,613 | - |
8,613 | 7,634 |
|
| Advertising, marketing and | |||||||
| publicity | 1,043 | - |
1,043 | 1,413 |
|||
| Insurance | 507 | - |
507 | 488 | |||
| Website | development costs | - | - | - | 911 | ||
| Total expenditure on | |||||||
| raising funds | 46,496 | - |
46,496 | 48,033 |
|||
| Expenditure on charitable |
Grants to MS Society | 1,530 | - |
1,530 | 10,000 |
||
| activities | Host Donations | - | - |
- | 320 | ||
| Bike the | UK for MS - | ||||||
| Awareness Raising Mission | 54,981 | - |
54,981 | 56,638 |
|||
| Total expenditure on | |||||||
| charitable activities | 56,511 | - |
56,511 | 66,958 |
|||
| TOTAL EXPENDITURE | 103,007 | - |
103,007 | 114,991 |
|||
| 4. Staff Costs | |||||||
| This year | Prior Year | ||||||
| £ | £ | ||||||
| Salaries and wages | 83,989 | 74,565 | |||||
| Social Security | Costs | - | - | ||||
| Pension costs | 2,146 | 1,776 | |||||
| Total staff | costs | 86,135 | 76,341 | ||||
| This | year | Prior | |||||
| Number | Year | ||||||
| Average head count in | |||||||
| the year | 2 | 3 | |||||
| Total | |||||||
| 2 | 3 | ||||||
| We were also supported | by two unpaid full | time volunteers in the year. |
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Bike the UK for MS Period from 1 October 2023 to 30 September 2024
5. Grantmaking
| Analysis of Grants Paid MS Society Projects & Local Groups Challenge Host Donations Total 6. Tangible Fixed Assets Cost: As at 1 October 2023 Additions As at 30 September 2024 Depreciation: As at 1 October 2023 Charged for the year As at 30 September 2024 Net Book Value: As at 30 September 2023 As at 30 September 2024 |
Grants to institutions Total Prior Year £ £ £ 1,530 1,530 10,000 |
Grants to institutions Total Prior Year £ £ £ 1,530 1,530 10,000 |
|---|---|---|
| - - 320 |
||
| 1,530 1,530 10,320 |
||
| Computer Equipment Total £ £ 792 792 - - 792 792 792 792 - - 792 792 - - - - |
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Bike the UK for MS Period from 1 October 2023 to 30 September 2024
7. Debtors
| Analysis of debtors Bike the US for MS HMRC - Gift Aid Total . Prepayments and Accrued Income Analysis of prepayments Inventory Prepayments Accrued Income Total |
Analysis of debtors Bike the US for MS HMRC - Gift Aid Total . Prepayments and Accrued Income Analysis of prepayments Inventory Prepayments Accrued Income Total |
This year Prior Year £ £ - 11,524 205 - |
|---|---|---|
| 205 11,524 |
||
| Amounts falling due within one year This year Prior Year £ £ 2,350 2,289 502 - 5,038 2,164 |
||
| 7,890 4,453 |
8. Prepayments and Accrued Income
9. Cash at bank and in hand
| Cash at bank and in hand Total |
This year Prior Year £ £ 24,193 31,570 24,193 31,570 |
|---|---|
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Bike the UK for MS Period from 1 October 2023 to 30 September 2024
10. Creditors
| Analysis of creditors Accruals for grants payable Taxation and social security Total |
Amounts falling due within one year This year Prior Year £ £ 1,530 10,000 - 3,245 |
|---|---|
| 1,530 13,245 |
11. Statement of Funds
Summary of Funds - Current Year
Unrestricted Funds Restricted Funds Total Funds |
Balance at 30 September 2023 Income Expenditure Balance at 30 September 2024 £ £ £ £ 34,302 97,213 (103,007) 28,508 - 2,250 - 2,250 |
|---|---|
| 34,302 99,463 (103,007) 30,758 |
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 £39,524 in grants (2023: £23,841) from Bike the US for MS. The balance outstanding at year end was £0 (2023: £11,524).
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