Streetbikes
Charity number 1176297
A company limited by guarantee number 07934312
Annual Report and Financial Statements
for the year ended 31 March 2023
Streetbikes
Annual Report and Financial Statements for the year ended 31 March 2023
| Contents | Page |
|---|---|
| Trustees' report | 2 to 4 |
| Examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the accounts | 8 to 14 |
Prepared by West Yorkshire Community Accountancy Service CIO
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Streetbikes
Trustees' report for the year ended 31 March 2023
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
Mark Dixon Gary Williamson Chair Samantha Foster Dave Swis David Bond Caroline Lee Andrew Lloyd Julia Woodhead Charity number 1176297 Company number 07934312
Appointed 24 February 2023 Appointed 31 January 2023 Appointed 31 May 2023 Resigned 7 June 2023 Resigned 6 March 2023 Resigned 12 January 2023 Resigned 6 March 2023 Resigned 23 June 2022
Registered in England and Wales 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
Independent examiner
E J Beverley FCCA West Yorkshire Community Accountancy Service CIO 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 February 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.
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 non-adapted 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.
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Streetbikes
Trustees' report (continued) for the year ended 31 March 2023
Objectives and activities
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
During the year we continued to reduce our expenditure where possible, wages, our biggest cost, reduced due to staff changes. We became more reliant on Volunteers and this meant day to day running remained intact. We increased time spent on income generation namely funding applications and other income generation streams by the introduction of a Fundraiser post and a Founders role. Their remit is to generate income to cover the majority of our costs and use unrestricted income generation to mainly cover wages.
There has also been a significant change in the number of Trustees and thanks go to Caroline Lee for her 5 year stint on the Board.
This year 417 bikes have been sold at an affordable price and 107 given to asylum seekers or refugees. We distribute children's bikes at Christmas to disadvantaged families and this year it was 49 in total.
Financial review
The net expenditure for the year was £16,526, including net income of £13,520 on unrestricted funds and net expenditure of £30,046 on restricted funds, after transfers.
We are heavily reliant on grants for the majority of our income and also on corporate sponsorship , but both these avenues have been covered by the employment of a fundraising officer and a “Founder” to generate corporate sponsorship.
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.’
Reserves policy
The charity's free reserves, excluding fixed assets, at the year end were £76,137.
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.
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Streetbikes
Trustees' report (continued) for the year ended 31 March 2023
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.
Approved by the board of trustees on …………..……...…….
Signed: ………………..…………. (Trustee)
Name: ……………..…..………….
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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 2023, which are set out on pages 6 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:
-
1 accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or 2 the accounts do not accord with those records; or
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3 the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
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4 the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
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: …………………………………… Name: E J Beverley FCCA
Date: …………………….
West Yorkshire Community Accountancy Service CIO
Stringer House 34 Lupton Street Leeds LS10 2QW
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Streetbikes
Statement of Financial Activities
(including summary income and expenditure account) for the year ended 31 March 2023
| Notes 2023 Unrestricted funds £ Income from: Grants and donations (2) 21,293 Sales and fees 56,370 Other income 285 Total income 77,948 Expenditure on: Salaries, NICs and pension (3) 48,146 Payroll charges 271 Staff training and welfare 1,900 Travel and subsistence 821 Volunteer expenses 617 Equipment and materials 1,306 Vehicle running costs 808 Rent 1,210 Storage - Phone and internet 107 Stationery, printing and consumables 42 Marketing and publicity 623 Insurances 1,287 Independent examination 390 Other running costs 2,201 Depreciation 3,084 Freelance costs 6,115 Total expenditure 68,928 Net income / (expenditure) 9,020 Transfers between funds 4,500 Net movement in funds 13,520 Fund balances brought forward 68,785 Fund balances carried forward (4) 82,305 |
2023 Restricted funds £ 39,800 - - 39,800 39,648 215 18 37 550 4,996 2,772 12,943 - 578 284 480 - 930 1,895 - - 65,346 (25,546) (4,500) (30,046) 41,819 11,773 |
2023 Total funds £ 61,093 56,370 285 117,748 87,794 486 1,918 858 1,167 6,302 3,580 14,153 - 685 326 1,103 1,287 1,320 4,096 3,084 6,115 134,274 (16,526) - (16,526) 110,604 94,078 |
2022 Total funds £ 58,162 53,906 1,378 113,446 96,384 675 1,584 107 1,433 3,734 2,656 11,723 500 1,350 421 11,882 1,462 930 2,097 2,008 - 138,946 (25,500) - (25,500) 136,104 110,604 |
|---|---|---|---|
All incoming resources and resources expended derive from continuing activities.
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Streetbikes
Balance sheet
| as at 31 March 2023 2023 Unrestricted £ Fixed assets Tangible assets (5) 6,168 Total fixed assets 6,168 Current assets Debtors and prepayments (6) 443 Cash at bank and in hand (7) 77,767 Total current assets 78,210 Current liabilities: amounts falling due within one year Creditors and accruals (8) 2,073 Total current liabilities 2,073 Net current assets 76,137 Net assets 82,305 Funds Unrestricted funds 82,305 Restricted funds - Total funds 82,305 |
2023 Restricted £ - - - 11,773 11,773 - - 11,773 11,773 - 11,773 11,773 |
2023 Total £ 6,168 6,168 443 89,540 89,983 2,073 2,073 87,910 94,078 82,305 11,773 94,078 |
2022 Total £ 4,752 4,752 1,963 106,278 108,241 2,389 2,389 105,852 110,604 68,785 41,819 110,604 |
|---|---|---|---|
For the year ending 31 March 2023 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 are 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 …………..……...…….
Signed: ……………...………….…. (Trustee)
Name: ……………..…..………….
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Streetbikes
Notes to the accounts
for the year ended 31 March 2023
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, if 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.
Donated goods for resale are valued at the amount actually realised upon their sale.
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
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Streetbikes
Notes to the accounts
for the year ended 31 March 2023
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.
Designated funds are unrestricted funds earmarked by the trustees for particular purposes.
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.
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Streetbikes
Notes to the accounts continued
for the year ended 31 March 2023
| 2 Grants and donations Anton Jurgens Charitable Trust Disability Sport Yorkshire Kirklees Council (KMC) The Brelms Trust The Percy Bilton Charity Thornton Family Fund - One Community The Trumark Trust TSL Kirklees West Yorkshire Combined Authority Bruce Wake Trust Garfield Weston Foundation Greene King Ltd HM Revenue and Customs Locala community fund One Community Foundation Peter Harrison Foundation Sovereign Health Care Third Sector Leaders Other donations 3 Staff costs and numbers Gross salaries Social security costs Employment allowance Pensions |
2023 Unrestricted funds £ - - - - - - - - - - - - - - - - - - 21,293 21,293 |
2023 Restricted funds £ 5,000 3,000 4,980 5,000 4,500 3,000 8,000 1,500 4,820 - - - - - - - - - - 39,800 |
2023 Total funds £ 5,000 3,000 4,980 5,000 4,500 3,000 8,000 1,500 4,820 - - - - - - - - - 21,293 61,093 2023 £ 86,467 5,844 (5,000) 483 87,794 |
2022 Total funds £ - - 4,980 5,000 - - - - - 3,115 10,000 3,000 1,545 3,000 1,000 13,000 5,000 5,500 3,022 58,162 2022 £ 94,155 5,648 (4,000) 581 96,384 |
|---|---|---|---|---|
The average number of employees during the year was 7.1, being an average of 3.6 full time equivalent (2022: 7.8, 3.6 FTE). There were no employees with emoluments above £60,000.
| Defined contribution pension scheme | 2023 | 2022 |
|---|---|---|
| £ | £ | |
| Costs of the scheme to the charity for the year | 483 | 581 |
| Amount of any contributions outstanding at the year end | 127 | - |
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Streetbikes
Notes to the accounts continued
for the year ended 31 March 2023
| 4 Restricted funds Brelms Trust Bruce Wake Trust KMC Do Something Now Garfield Weston Greene King Jurgens Trust Kirklees Council Locala One Community Percy Bilton Peter Harrison Foundation Sovereign HC Thornton Family fund Trumark TSL WYCA YDS |
Balance b/f £ 2,930 3,115 4,693 8,009 1,536 - - 1,914 68 - 13,000 4,740 - - 1,814 - - 41,819 |
Incoming £ 5,000 - - - - 5,000 4,980 - - 4,500 - - 3,000 8,000 1,500 4,820 3,000 39,800 |
Outgoing £ 4,310 3,115 4,693 8,009 1,536 5,000 4,980 1,914 68 - 13,000 4,740 - 2,847 3,314 4,820 3,000 65,346 |
Transfers £ - - - - - - - - - (4,500) - - - - - - - (4,500) |
Balance c/f £ 3,620 - - - - - - - - - - - 3,000 5,153 - - - 11,773 |
|---|---|---|---|---|---|
Purpose of restriction
Fund name
Towards rental costs of workshops & offices. Towards sessions at Mixed ability cycling. Towards women's bike rides. To cover core costs.
Brelms Trust Towards rental costs of workshops & offices. Bruce Wake Trust Towards sessions at Mixed ability cycling. KMC Do Something Now Towards women's bike rides. Garfield Weston To cover core costs. Greene King Towards sessions at mixed ability cycling. Jurgens Trust Towards mixed ability sessions Spen track. Kirklees Council Towards women's bike rides. Locala Towards sessions at mixed ability cycling. One Community Towards activity sessions at Spen. Percy Bilton
Towards new adapted bikes. The transfer relates to moving fixed asset costs to unrestricted funds because the bikes will be used by the charity for cycling sessions.
Towards Christmas bike giveaway. Towards sessions at mixed ability cycling. Towards refugee/ asylum seeker bikes. Towards mixed ability sessions spen track. Towards bikes and activity sessions at Spen. Towards women's bike rides. Towards mixed ability sessions Spen track.
Peter Harrison Foundation Sovereign HC Thornton Family fund Trumark TSL WYCA YDS
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Streetbikes
Notes to the accounts continued
for the year ended 31 March 2023
| 5 6 7 **8 ** |
Tangible assets Cost At 1 April 2022 Additions At 31 March 2023 Depreciation At 1 April 2022 Charge for year At 31 March 2023 Net book value At 31 March 2023 At 31 March 2022 Debtors and prepayments Prepayments Other debtors Cash at bank and in hand Cash at bank Cash in hand Creditors and accruals Creditors Accruals Taxation and social security |
£ 12,297 4,500 16,797 12,297 1,500 13,797 3,000 - Bikes |
£ 4,154 - 4,154 4,154 - 4,154 - - Computer equipment |
£ 9,219 - 9,219 4,467 1,584 6,051 3,168 4,752 Tools and equipment |
£ 8,000 - 8,000 8,000 - 8,000 - - 2023 £ 443 - 443 2023 £ 89,485 55 89,540 2023 £ 127 1,441 505 2,073 Motor vehicles |
Total £ 33,670 4,500 38,170 28,918 3,084 32,002 6,168 4,752 2022 £ 385 1,578 1,963 2022 £ 106,123 155 106,278 2022 £ 1,290 1,099 - 2,389 |
|---|---|---|---|---|---|---|
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Streetbikes
Notes to the accounts continued
for the year ended 31 March 2023
9 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 total employee benefits received by key management personnel were £28,509 (previous year: £27,710).
10 Operating leases
| Within one year Expected future minimum lease payments over the remaining life of the lease, analysed into the period in which the commitment falls due: |
2023 £ 8,280 8,280 |
2022 £ 8,280 8,280 |
|---|---|---|
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Streetbikes
Statement of Financial Activities including comparatives for all funds (including summary income and expenditure account) for the year ended 31 March 2023
| 2023 2022 Unrestricted Unrestricted funds funds £ £ Income Grants and donations 21,293 3,022 Sales and fees 56,370 53,906 Other income 285 1,378 Total income 77,948 58,306 Expenditure Salaries, NICs and pension 48,146 75,650 Payroll charges 271 675 Staff training and welfare 1,900 1,251 Travel and subsistence 821 18 Volunteer expenses 617 1,367 Equipment and materials 1,306 1,071 Vehicle running costs 808 973 Rent 1,210 7,943 Storage - - Phone and internet 107 1,015 Stationery, printing and consumables 42 334 Marketing and publicity 623 6,212 Insurances 1,287 856 Independent examination 390 930 Other running costs 2,201 1,016 Depreciation 3,084 2,008 Freelance costs 6,115 - Total expenditure 68,928 101,319 Net income / (expenditure) 9,020 (43,013) Transfers between funds 4,500 - Net movement in funds 13,520 (43,013) Fund balances brought forward 68,785 111,798 Fund balances carried forward 82,305 68,785 |
2023 Restricted funds £ 39,800 - - 39,800 39,648 215 18 37 550 4,996 2,772 12,943 - 578 284 480 - 930 1,895 - - 65,346 (25,546) (4,500) (30,046) 41,819 11,773 |
2022 Restricted funds £ 55,140 - - 55,140 20,734 - 333 89 66 2,663 1,683 3,780 500 335 87 5,670 606 - 1,081 - - 37,627 17,513 17,513 24,306 41,819 |
2023 Total funds £ 61,093 56,370 285 117,748 87,794 486 1,918 858 1,167 6,302 3,580 14,153 - 685 326 1,103 1,287 1,320 4,096 3,084 6,115 134,274 (16,526) - (16,526) 110,604 94,078 |
2022 Total funds £ 58,162 53,906 1,378 113,446 96,384 675 1,584 107 1,433 3,734 2,656 11,723 500 1,350 421 11,882 1,462 930 2,097 2,008 - 138,946 (25,500) - (25,500) 136,104 110,604 |
|---|---|---|---|---|
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