## **Bike the UK for MS**
## **Annual Report and Financial Statements**
## **For the Period**
**From 01/10/2024 to 30/09/2025**
**Registered Charity Number: 1172717**
Bike the UK for MS Period from 1 October 2024 to 30 September 2025
## **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 2024 to 30 September 2025
## **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, 25 Gresham Street, London, EC2V 7HN
2
Bike the UK for MS Period from 1 October 2024 to 30 September 2025
## **TRUSTEE’S ANNUAL REPORT**
The Trustees present their annual report and financial statement for the period from 1 October 2024 to 30 September 2025 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 2024-25 was to continue delivering meaningful support for the MS community while responding to a challenging fundraising environment. The charity continued to organise multi-day cycling challenges across the UK, using these events to raise awareness of multiple sclerosis, bring participants closer to the mission and generate funds to support people living with MS.
During the year, the charity continued to adapt its event programme and pricing model in response to changing participant demand. While rider fundraising income was lower than in previous years, the events that took place remained an important way of engaging supporters, building community and promoting awareness of MS across the UK.
A key area of development was the continued delivery of accessible cycling sessions. These sessions use adapted bikes in safe and inclusive settings, giving people living with MS the opportunity to experience cycling in a way that supports mobility, confidence, social connection and enjoyment. This work continues to be an important part of the charity’s aim to provide practical and positive support to people affected by MS.
Alongside its cycling challenges and accessible cycling work, Bike the UK for MS continued to strengthen relationships with MS groups, partner organisations, alumni, volunteers and supporters. Although no grants were made to the MS Society during the year, the charity continued to focus its resources on direct charitable activity, awareness raising and accessible cycling opportunities for people living with MS.
3
Bike the UK for MS Period from 1 October 2024 to 30 September 2025
Our work throughout the year would not have been possible without the vital contribution of volunteers. From supporting riders and helping with trip logistics, to assisting with outreach, fundraising and the delivery of activities, volunteers played a central role in helping the charity continue its mission. While we do not place a monetary value on this contribution in the financial statements, the charity deeply values the time, skills and enthusiasm our volunteers bring. During the year, the charity was also supported by three unpaid full-time volunteers.
## **FINANCIAL REVIEW**
## **Financial Position**
Total income for the year was £77.7k. This was primarily made up of £24.7k in donations and fundraising, £2.0k in Gift Aid and £51.0k in grant support from our US-based partner charity, Bike the US for MS.
Total expenditure for the year was £95.9k. Of this, £49.3k was spent on charitable activities, including our awareness-raising cycling events and accessible cycling sessions. The remaining £46.6k related to the costs of raising funds, including donor engagement, grant-seeking, marketing, insurance and related fundraising activity.
The year closed with a net deficit of £18.2k, bringing total funds carried forward to £12.5k. The restricted funds brought forward from the previous year were fully spent during the year on accessible cycling sessions, leaving all funds at year-end unrestricted.
## **Surplus and Reserves Policy**
Bike the UK for MS has historically aimed to maintain reserves equivalent to 12 months of salary expenditure and initial outlay for the following year’s events. As of year-end, the charity held unrestricted reserves of £12.5k.
While this is below the charity’s previous reserves target, the Trustees recognise that the charity’s future cost base will change substantially from 2025-26, with payroll costs expected to be met by Bike the US for MS. As a result, the Trustees will review the charity’s reserves policy to ensure it reflects the charity’s revised operating model, future event commitments and working capital requirements.
The Trustees continue to monitor the reserves position carefully and will focus on maintaining sufficient liquidity to cover event deposits, insurance, operating costs and other commitments required to deliver the charity’s programme safely and effectively.
4
Bike the UK for MS Period from 1 October 2024 to 30 September 2025
## **Assessment of Going Concern**
The Trustees recognise that the charity continues to operate in a challenging fundraising environment, with pressure on rider recruitment, donor confidence and event costs. The 2024-25 accounts show a deficit for the year and a reduction in funds carried forward.
However, this position should be viewed alongside the planned change to the charity’s operating model from 2025–26. With Bike the US for MS taking on responsibility for the cost of UK payroll, Bike the UK for MS expects its ongoing expenditure to reduce significantly. This will ease pressure on the charity’s reserves and allow future income to be focused more directly on event delivery, accessible cycling activity and support for the MS community.
The charity also continues to benefit from committed volunteers, grant support, close links with Bike the US for MS and the ability to adapt its event programme in response to demand. After consideration, the Trustees believe that the charity has adequate resources to continue operating for the coming year and have therefore prepared these financial statements on a Going Concern basis.
## **Future Developments**
In 2025-26, Bike the UK for MS will focus on rebuilding participation in its cycling challenges, strengthening marketing and alumni engagement and continuing to diversify income through grants, partnerships and supporter fundraising. The charity will continue to review its event calendar and pricing model to ensure its rides remain accessible, appealing and financially sustainable.
A key development for the coming year will be the revised financial relationship with Bike the US for MS, with the US charity expected to take on responsibility for UK payroll costs. This will reduce Bike the UK for MS’s recurring expenditure and allow the charity to operate with a leaner cost base.
The charity also plans to continue developing its accessible cycling programme, working with MS groups and delivery partners to provide inclusive cycling opportunities for people living with MS. Building stronger relationships with MS organisations, local groups, alumni and volunteers will remain central to the charity’s mission and future growth.
5
Bike the UK for MS Period from 1 October 2024 to 30 September 2025
## **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.
6
Bike the UK for MS Period from 1 October 2024 to 30 September 2025
## **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 2026 and signed on their behalf by:
……………………………………………..
Mr Donald Fraser (Chairman)
7
Bike the UK for MS Period from 1 October 2024 to 30 September 2025
## **INDEPENDENT EXAMINER’S REPORT**
## **FOR THE PERIOD FROM 1 October 2024 TO 30 SEPTEMBER 2025**
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 30 September 2025.
## **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: 29/07/26 Georgina Dean ACA
8
Bike the UK for MS Period from 1 October 2024 to 30 September 2025
## **STATEMENTS OF FINANCIAL ACTIVITY**
|**NOTE**
**INCOME FROM:**
Donations and legacies
**_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**
**£**
**£**
**£**
**£**
77,692
-
77,692
99,463|
|---|---|
||77,692
-
77,692
99,463|
||46,638
-
46,638
46,496
47,035
2,250
49,285
56,511|
||93,673
2,250
95,923
103,007|
|||
||(15,981)
(2,250)
(18,231)
(3,544)|
||
28,508
2,250
30,758
34,302|
||12,527
-
12,527
30,758|
9
Bike the UK for MS Period from 1 October 2024 to 30 September 2025
## **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**
**£**
**£**
**£**
**£**
-
-
-
-|
|---|---|
||-
-
-
-|
||7,313
-
7,313
205
-
-
-
7,890
13,888
-
13,888
24,193|
||21,201
-
21,201
32,288|
||8,674
-
8,674
1,530|
||12,527
-
12,527
30,758|
||12,527
-
12,527
30,758|
||12,527
-
12,527
30,758|
||-
-
-
2,250|
||12,527
-
12,527
28,508|
||12,527
-
12,527
30,758|
The financial statements were approved by the board of trustees and authorised for issue on 29 July 2026 and are signed on its behalf by:
……………………………………………..
Mr Donald Fraser (Chairman)
10
Bike the UK for MS Period from 1 October 2024 to 30 September 2025
## **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.
11
Bike the UK for MS Period from 1 October 2024 to 30 September 2025
## **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 amounts owed to the charity. They are measured on the basis of their recoverable amount.
## **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.
12
Bike the UK for MS Period from 1 October 2024 to 30 September 2025
## **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.
## **2. Analysis of Income**
|**Analysis**
**Donations**
**and**
**legacies:**
Donations and gifts
Gift Aid
General grants provided
by government/other
charities
**TOTAL INCOME**|**Unrestricted**
**funds**
**Restricted**
**Income**
**funds**
**Total**
**funds**
**Prior Year**
**£**
**£**
**£**
**£**
24,700
-
24,700
53,213
1,959
-
1,959
4,476
51,033
-
51,033
41,774|
|---|---|
||77,692
-
77,692
99,463|
13
Bike the UK for MS Period from 1 October 2024 to 30 September 2025
## **3. Analysis of Expenditure**
||||**Restricted**||||
|---|---|---|---|---|---|---|
|||**Unrestricted**|
**Expenditure**|**Total**|||
|||**funds**|**funds**|**funds**|
**Prior**|**Year**|
||**Analysis**|**£**|
**£**|**£**||**£**|
|**Expenditure**
**on raising**|Incurred seeking donations|37,097|
-|37,097|
36,333||
|**funds:**|Incurred seeking grants|8,573|
-|8,573|
8,613||
||Advertising, marketing and||||||
||publicity|494|
-|494|
1,043||
||Insurance|474|
-|474||507|
||**Total expenditure on**||||||
||**raising funds**|46,638|
-|46,638|
46,496||
|**Expenditure**
**on charitable**
**activities**|Grants to MS Society
Accessible Cycling
Sessions|-
110|
-
2,250|-
2,360|
1,530
-||
||Bike the UK for MS -||||||
||Awareness Raising Mission|46,925|
-|46,925|
54,981||
||**Total expenditure on**||||||
||**charitable activities**|47,035|
2,250|49,285|
56,511||
|**TOTAL EXPENDITURE**||93,673|
2,250|95,923|103,007||
|**4. Staff Costs**|||||||
||||**This year**|**Prior Year**|||
||||**£**||**£**||
|**Salaries and wages**|||78,486|83,989|||
|**Social Security**|**Costs**||7,021||-||
|**Pension costs**|||228||2,146||
||**Total staff costs**||85,735|86,135|||
||||**This**|**year**|**Prior**||
||||**Number**||**Year**||
|**Average head count in**|||||||
|**the year**||||1|2||
||||**Total**||||
|||||1|2||
|We were also supported by three unpaid full time volunteers in the year.|||||||
14
Bike the UK for MS Period from 1 October 2024 to 30 September 2025
## **5. Grantmaking**
|**Analysis of Grants Paid**
MS Society Projects & Local
Groups
**_Total_**
**. Tangible Fixed Assets**
**Cost:**
**As at 1 October 2024**
**Additions**
**As at 30 September 2025**
**Depreciation:**
**As at 1 October 2024**
**Charged for the year**
**As at 30 September 2025**
**Net Book Value:**
**As at 30 September 2024**
**As at 30 September 2025**|**Grants to**
**institutions**
**Total**
**Prior Year**
**£**
**£**
**£**
-
-
1,530|**Grants to**
**institutions**
**Total**
**Prior Year**
**£**
**£**
**£**
-
-
1,530|
|---|---|---|
|||**-**
**-**
**1,530**|
|||**Computer**
**Equipment**
**Total**
**£**
**£**
792
792
-
-
792
792
792
792
-
-
792
792
-
-
-
-|
## **6. Tangible Fixed Assets**
15
Bike the UK for MS Period from 1 October 2024 to 30 September 2025
## **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**
**£**
**£**
7,313
-
-
205|
|---|---|---|
|||7,313
205|
|||**Amounts falling due within one year**
**This year**
**Prior Year**
**£**
**£**
-
2,350
-
502
-
5,038|
|||-
7,890|
## **8. Prepayments and Accrued Income**
## **9. Cash at bank and in hand**
|**Cash at bank and in hand**
**Total**|**This year**
**Prior Year**
**£**
**£**
13,888
24,193
13,888
24,193|
|---|---|
16
Bike the UK for MS Period from 1 October 2024 to 30 September 2025
## **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
8,674
-|
|---|---|
||8,674
1,530|
## **11. Statement of Funds**
## **Summary of Funds - Current Year**
|
Unrestricted Funds
Restricted Funds
**Total Funds**|**Balance at**
**30 September**
**2024**
**Income**
**Expenditure**
**Balance at**
**30 September**
**2025**
**£**
**£**
**£**
**£**
28,508
77,692
(93,673)
12,527
2,250
-
(2,250)
-|
|---|---|
||30,758
77,692
(95,923)
12,527|
## **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 £51,033 in grants (2025: £39,524) from Bike the US for MS. The balance outstanding at year end was £7,313 (2024: £0).
17