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2021-03-31-accounts

Streetbikes

Charity number 1176297

A company limited by guarantee number 07934312

Annual Report and Financial Statements

for the year ended 31 March 2021

Streetbikes

Annual Report and Financial Statements for the year ended 31 March 2021

Contents Page
Trustees' report 2 to 5
Examiner's report 6
Statement of financial activities 7
Balance sheet 8
Notes to the accounts 9 to 14

Prepared by West Yorkshire Community Accounting Service

1

Streetbikes

Trustees' report for the year ended 31 March 2021

Reference and administrative details of the charity, its trustees and advisors

The trustees during the financial year and up to and including the date the report was approved were: Name Position Dates Benjamin Holman Chair David Bond Co-Chair Caroline Lee Nicola Orme Resigned 9 October 2020 Julia Woodhead Keith Hickling Resigned 28 July 2021 William Tindle Resigned 28 July 2021 Robert Bird Resigned 2 November 2020 Andrew Lloyd Appointed 29 July 2021 Charity number 1176297 Registered in England and Wales Company number 07934312 Registered in England and Wales Registered and principal address Bankers Unit 1a Radcliffe Road HSBC Bank plc Milnsbridge 2 Cloth Hall Street Huddersfield Huddersfield HD3 4LX HD1 2ES

Registered in England and Wales Registered in England and Wales

Independent examiner

E J Beverley FCCA West Yorkshire Community Accounting Service

Stringer House 34 Lupton Street Leeds LS10 2QW

Structure, governance and management

The charity is a company limited by guarantee and was formed on 2 Feb 2012. It is governed by a memorandum and articles of association as amended 6 December 2017. The liability of the members in the event of the company being wound up is limited to a sum not exceeding £1.

Method of recruitment and appointment of trustees

The trustees of the charity are also the directors for the purposes of company law and are appointed by the members at the AGM.

2

Streetbikes

Trustees' report (continued) for the year ended 31 March 2021

Objectives and activities

The charity's objects

To relieve the needs of the public in the Kirklees area of West Yorkshire by:

The preservation and protection of good physical and mental health by providing both adapted and nonadapted cycles.

To assist in alleviating financial hardship by providing recycled bikes free of charge to disadvantaged families.

The advancement of education by running AQA courses in bike maintenance for those in the community who are in need thereof so as to advance them in life and assist them to adapt within the wider community.

The provision of facilities for recreation or other leisure- time occupation with the object of improving the conditions of life of those persons who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances.

The charity's main activities

The purpose of the charity is to provide access to adapted and non-adapted bikes to cycle in a safe and secure environment and to provide various cycling programmes and sessions for people to improve their health and wellbeing through cycling.

Public benefit statement

In setting our objectives and planning our activities our Trustees have given serious consideration to the Charity Commission’s general guidance on public benefit the advancement of peoples health and well being both physically and mentally.

Achievements and performance

Since 2010 Streetbikes has received over 8,000 donated bikes, which have been recycled and brought back into use, or reused through recycled scrap waste. 7,800 of the recycled bikes has either been provided free or sold at an affordable price to the wider community. Since 2016 over 11,000 people have attended our various cycle sessions, included mixed ability, community rides, learn to ride and women only rides.

Important activity from the bike workshop in the past 12 months:

759 bikes donated from the recycling centres

510 donated directly from the general public

268 bikes recycled and sold at an affordable price

Financial review

The net payment for the year was £3,996, including net income of £25,764 on unrestricted funds and net payment of £29,760 on restricted funds after transfers.

3

Streetbikes

Trustees' report (continued) for the year ended 31 March 2021

Reserves policy

The charity's free reserves, excluding fixed assets, at the year end were £105,038.

Streetbikes reserves policy aims to balance spending the maximum amount of income raised whilst maintaining the minimum level of reserves to ensure uninterrupted operation and provide time to adjust to changes in financial circumstances. Trustees take a risk-based approach reviewing levels of reserves annually to ensure changes are managed on a timely basis.

The Board of Trustees will review the reserves policy on an annual basis and will ensure that any under or over provision is managed appropriately. Trustees will also review reserves if they drop under £60,000 or go over £120,000.

Going Concern

In the short term we have reserves and current levels of money in the bank to operate for 12 months.

We are planning to work in partnership with outside organisations to increase income and reduce outgoings.

In light of these changes, the trustees have reassessed the charity’s ability to continue for at least 12 months from the date that the accounts are approved and conclude that no material uncertainties exist that cast significant doubt on the charity’s ability to continue as a going concern.

4

Streetbikes

Trustees' report (continued) for the year ended 31 March 2021

Statement of trustees' responsibilities

The trustees (who are also the directors for the purposes of company law) are responsible for preparing the Trustees report and the financial statements in accordance with the applicable law and UK Accounting Standards.

Company law requires the trustees to prepare financial accounts for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the year. In preparing these financial statements, the trustees are required to:

select suitable accounting policies and apply them consistently;

observe the methods and principles in the Charities SORP;

make judgements and estimates that are reasonable and prudent;

state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

prepare the accounts on a going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial accounts comply with the Companies Act 2006. 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 has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (Charities SORP (FRS102)), and in accordance with the special provisions of the Companies Act 2006 relating to small companies.

Signed on behalf of the board of trustees on 19/11/2021

Benjamin Holman (Trustee)

5

Streetbikes

Independent examiner's report to the trustees of Streetbikes

I report to the charity trustees on my examination of the accounts of the charitable company for the year ended 31 March 2021, which are set out on pages 7 to 14.

Responsibilities and basis of report

As the charity's trustees of the charitable company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the charitable company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 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 giving me cause to believe that in any material respect:

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.

E J Beverley FCCA

23/11/2021

West Yorkshire Community Accounting Service

Stringer House 34 Lupton Street Leeds LS10 2QW

6

Streetbikes

Statement of Financial Activities

(including summary income and expenditure account) for the year ended 31 March 2021

Notes
2021
Unrestricted
funds
£
Income from:
Grants and donations
(2)
14,076
Sales and fees
13,167
Other income
603
Total income
27,846
Expenditure on:
Salaries, NICs and pension
(3)
-
Payroll charges
231
Staff training and welfare
300
Travel and subsistence
-
Volunteer expenses
96
Event expenses
-
Equipment and materials
279
Vehicle running costs
610
Rent
420
Storage
-
Phone and internet
-
Stationery, printing and consumables
-
Marketing and publicity
67
Insurances
-
Accountancy fees
930
Other running costs
295
Depreciation
6,774
Repairs and maintenance
-
Grant repayment
-
Total expenditure
10,002
Net income / (expenditure)
17,844
Transfers between funds
7,920
Net movement in funds
25,764
Fund balances brought forward
86,034
Fund balances carried forward
(4)
111,798		 2021
Restricted
funds
£
131,290
-
-
131,290
123,249
687
-
112
-
-
7,233
2,872
7,740
364
3,085
466
4,727
1,513
-
1,082
-
-
-
153,130
(21,840)
(7,920)
(29,760)
54,066
24,306		 2021
Total
funds
£
145,366
13,167
603
159,136
123,249
918
300
112
96
-
7,512
3,482
8,160
364
3,085
466
4,794
1,513
930
1,377
6,774
-
-
163,132
(3,996)
-
(3,996)
140,100
136,104		 2020
Total
funds
£
163,826
26,390
728
190,944
111,812
1,061
2,449
1,600
1,052
110
2,520
2,142
12,960
2,265
1,287
562
1,616
1,694
930
808
4,478
3,877
2,000
155,223
35,721
-
35,721
104,379
140,100

All incoming resources and resources expended derive from continuing activities.

7

Streetbikes

Balance sheet

as at 31 March 2021
2021
Unrestricted
£
Fixed assets
Tangible assets
(5)
6,760
Total fixed assets
6,760
Current assets
Prepayments
122
Cash at bank and in hand
(6)
105,846
Total current assets
105,968
Current liabilities:
amounts falling due within one year
Creditors and accruals
(7)
930
Total current liabilities
930
Net current assets
105,038
Net assets
111,798
Funds
Unrestricted funds
111,798
Restricted funds
-
Total funds
111,798		 2021
Restricted
£
-
-
-
25,953
25,953
1,647
1,647
24,306
24,306
-
24,306
24,306		 2021
Total
£
6,760
6,760
122
131,799
131,921
2,577
2,577
129,344
136,104
111,798
24,306
136,104		 2020
Total
£
5,614
5,614
126
138,223
138,349
3,863
3,863
134,486
140,100
86,034
54,066
140,100

For the year ending 31 March 2021 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the charitable company to obtain an audit of its accounts for the year in question in accordance with section 476. The trustees (who also the directors for the purposes of company law) acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime and with FRS 102 (effective January 2019).

The financial statements were approved by the board of trustees on 19/11/2021

Benjamin Holman (Trustee)

8

Streetbikes

Notes to the accounts

for the year ended 31 March 2021

1 Accounting policies

Basis of accounting

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by 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) and with the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102. There has been no change to the accounting policies since last year. No changes have been made to the accounts for previous years.

Going concern

The trustees are satisfied that there are no material uncertainties about the charity's ability to continue.

Incoming resources

All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity becomes entitled to the resources, it is more likely than not that the trustees will receive the resources and the monetary value can be measured with sufficient reliability.

Grants and donations

Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources.

Where grants are related to performance and specific deliverables, they are accounted for as the charity earns the right to consideration by its performance.

Expenditure and liabilities

Expenditure is recognised on an accrual basis as a liability is incurred. Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out the resources and the amount of the obligation can be measured with reasonable certainty.

Taxation

As a charity the organisation benefits from rates relief and is generally exempt from income tax and capital gains tax but not from VAT. Irrecoverable VAT is included in the cost of those items to which it relates.

Tangible fixed assets

Tangible fixed assets costing more than £500 are capitalised and included at cost including any incidental expenses of acquisition. Gifted assets are shown at the value to the charity on receipt. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost on a straight line basis over their expected useful economic lives as follows: Tools and equipment: 20% straight line basis Motor vehicles: over 5 years straight line basis Computer equipment: 20% straight line basis Bikes: over 3 years straight line basis

9

Streetbikes

Notes to the accounts

for the year ended 31 March 2021

1 Accounting policies (continued)

Pensions

The charity operates a defined contribution scheme for the benefit of its employees. The costs of contributions are recognised in the year they are payable.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.

Further explanation of the nature and purpose of each fund is included in the notes to the accounts.

Leases

Rents under operating leases are charged on a straight line basis over the lease term or to an earlier date if the lease can be determined without financial penalty.

10

Streetbikes

Notes to the accounts continued

for the year ended 31 March 2021

2 Grants and donations
Co-op Community Fund
Cycling UK
HM Revenue and Customs
Kirklees Council
One Community Foundation
St. James’s Place Charitable Foundation (SJP)
The National Lottery Community Fund
West Yorkshire Combined Authority (WYCA)
Brian Robinson Challenge
Donations
3 Staff costs and numbers
Gross salaries
Social security costs
Employment allowance
Pensions		 2021
Unrestricted
funds
£
500
-
-
10,000
-
-
-
-
-
3,576
14,076		 2021
Restricted
funds
£
-
3,000
16,197
-
4,800
2,500
99,993
4,800
-
-
131,290		 2021
Total
funds
£
500
3,000
16,197
10,000
4,800
2,500
99,993
4,800
-
3,576
145,366
2021
£
119,493
7,666
(4,000)
90
123,249		 2020
Total
funds
£
2,723
-
-
-
-
-
153,576
-
600
6,927
163,826
2020
£
108,941
5,871
(3,000)
-
111,812
The average number employees during the year was 9.8 being an average of 4.3 full time equivalent (2020: The average number employees during the year was 9.8 being an average of 4.3 full time equivalent (2020: The average number employees during the year was 9.8 being an average of 4.3 full time equivalent (2020:
11.1, 4.2 FTE). There were no employees with emoluments above £60,000.
Defined contribution pension scheme 2021
2020
Costs of the scheme to the charity for the year £
£
90
-
Amount of any contributions outstanding at the year end
-
-
Amount of any contributions prepaid at the year end -
-
**4 ** Restricted funds Balance b/f Incoming
Outgoing
Transfers
Balance c/f
National Lottery Fund £
48,762		 £
£
£
£
99,993
121,567
(7,920)
19,268
Greggs 40 -
40
-
-
Tesco 121 -
121
-
-
WYCA 2,891 4,800
5,726
-
1,965
Bright green fund 41 -
41
-
-
Welcome to Yorkshire 2,211 -
2,211
-
-
One Community - 4,800
4,800
-
-
Cycling UK - 3,000
2,178
-
822
SJP Foundation - 2,500
249
-
2,251
HMRC JRS - 16,197
16,197
-
-
54,066 131,290
153,130
(7,920)
24,306

11

Streetbikes

Notes to the accounts continued

for the year ended 31 March 2021

4 Restricted funds (continued)

Fund name Purpose of restriction National Lottery Fund

To make positive changes to peoples health and well being through cycling. A transfer was made from this fund for the purchase of equipment, which is for the general use of the charity.

Greggs Tesco Bags of help fund for adapted bikes. WYCA To provide bikes for key workers during Covid 19. Bright green fund Welcome to Yorkshire Facilitating rides at Tour de Yorkshire. One Community To provide bikes for key workers during Covid 19. Cycling UK To provide bikes for key workers during Covid 19. SJP Foundation Towards Christmas bike giveaway. HMRC JRS Towards the furloughed staff due to Covid 19.

To facilitate bike rides and mechanics courses in deprived areas. Bags of help fund for adapted bikes. To provide bikes for key workers during Covid 19.

To facilitate bike rides and mechanics courses in deprived areas. Facilitating rides at Tour de Yorkshire.

5
6
**7 **		 Tangible assets
Cost
At 1 April 2020
Additions
At 31 March 2021
Depreciation
At 1 April 2020
Charge for year
At 31 March 2021
Net book value
At 31 March 2021
At 31 March 2020
Cash at bank and in hand
Cash at bank
Cash in hand
Creditors and accruals
Creditors
Accruals		 12,297
-
12,297
8,198
4,099
12,297
-
4,099
Bikes		 4,154
-
4,154
3,036
831
3,867
287
1,118
Computer
equipment		 £
1,299
7,920
9,219
902
1,844
2,746
6,473
397
Tools and
equipment		 £
8,000
-
8,000
8,000
-
8,000
-
-
2021
£
131,378
421
131,799
2021
£
1,387
1,190
2,577
Motor
vehicles		 Total
£
25,750
7,920
33,670
20,136
6,774
26,910
6,760
5,614
2020
£
137,666
557
138,223
2020
£
2,616
1,247
3,863

12

Streetbikes

Notes to the accounts continued

for the year ended 31 March 2021

8 Related party transactions

Trustee expenses

No trustee received any expenses during this year or the previous year.

Trustee remuneration and benefits

No trustee received any remuneration or benefit during this or the previous year.

Remuneration and benefits received by key management personnel

The key management personnel of the charity include the trustees and the perations manager. The total employee benefits received by the operations manager were £32,566 (previous year: £17,522). No trustee received any remuneration or benefit in this capacity during this or the previous year.

9 Operating leases
Within one year
In the second to fifth years inclusive
Expected future minimum lease payments over the remaining
life of the lease, analysed into the period in which the
commitment falls due:		 2021
£
8,280
8,280
16,560		 2020
£
-
-
-

13

Streetbikes

Statement of Financial Activities including comparatives for all funds (including summary income and expenditure account) for the year ended 31 March 2021

2021
2020
Unrestricted Unrestricted
funds
funds
£
£
Income
Grants and donations
14,076
10,250
Sales and fees
13,167
26,390
Other income
603
728
Total income
27,846
37,368
Expenditure
Salaries, NICs and pension
-
510
Payroll charges
231
65
Staff training and welfare
300
1,406
Travel and subsistence
-
766
Volunteer expenses
96
1,052
Event expenses
-
100
Equipment and materials
279
207
Vehicle running costs
610
133
Rent
420
-
Storage
-
-
Phone and internet
-
6
Stationery and printing
-
233
Marketing and publicity
67
56
Insurances
-
190
Accountancy fees
930
30
Other running costs
295
100
Depreciation
6,774
4,478
Repairs and maintenance
-
3,315
Grant repayment
-
-
Total expenditure
10,002
12,647
Net income / (expenditure)
17,844
24,721
Transfers between funds
7,920
-
Net movement in funds
25,764
24,721
Fund balances brought forward
86,034
61,313
Fund balances carried forward
111,798
86,034		 2021
Restricted
funds
£
131,290
-
-
131,290
123,249
687
-
112
-
-
7,233
2,872
7,740
364
3,085
466
4,727
1,513
-
1,082
-
-
-
153,130
(21,840)
(7,920)
(29,760)
54,066
24,306		 2020
Restricted
funds
£
153,576
-
-
153,576
111,302
996
1,043
834
-
10
2,313
2,009
12,960
2,265
1,281
329
1,560
1,504
900
708
-
562
2,000
142,576
11,000
-
11,000
43,066
54,066		 2021
Total
funds
£
145,366
13,167
603
159,136
123,249
918
300
112
96
-
7,512
3,482
8,160
364
3,085
466
4,794
1,513
930
1,377
6,774
-
-
163,132
(3,996)
-
(3,996)
140,100
136,104		 2020
Total
funds
£
163,826
26,390
728
190,944
111,812
1,061
2,449
1,600
1,052
110
2,520
2,142
12,960
2,265
1,287
562
1,616
1,694
930
808
4,478
3,877
2,000
155,223
35,721
-
35,721
104,379
140,100

14