## 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**
1
## 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.
2
## 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.
3
## 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: ……………..…..………….
4
## 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
- 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
- 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
5
## 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.
6
## 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: ……………..…..………….
7
## 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
8
## 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.
9
## 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|-|
10
## 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
11
## 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|
|---|---|---|---|---|---|---|
12
## 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|
|---|---|---|
13
## 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|
|---|---|---|---|---|
14